3 Critical Day Trading Mistakes And How To Avoid Them

Ah, the day trading profession - it's the perfect job, right? You can work when and where you want. You have freedom and independence. You answer to no one but yourself. All this sounds great and there is no doubt that day trading can be a very lucrative and rewarding career, but let's take a look at the cold hard facts. Nearly 80% of those who attempt day trading will fail. Trading accounts are lost every single day because of trading too much, taking illogical risks or just plain ignorance.

Don't get me wrong, you can make substantial profits at day trading. There are many successful day traders out there that are making a nice living year after year. In order to have the greatest chance of success, there are several mistakes that must be avoided:

1. Trading With Emotion

The single biggest mistake made by day traders is trading with emotion. If you trade with emotion you will lose money - It's as simple as that. Greed and fear rule the stock markets and these two emotions are precisely what will put you in the hole. Too many decisions when trading are based on emotions, rather than logic. The key here to overcome emotions is that you must have a system in place that picks trades mechanically - this will take greed and fear out of the equation.

2. Trading Without Proper Research

Day trading is a serious business and it needs to be treated that way. Many traders make the mistake of half-hazardly buying stocks without taking the time to complete the proper research. Day trading is for real and the stock market has no mercy for the
unprepared. To be a successful trader you simply must have a carefully planned out system in place for how you go about researching your potential stock picks.

3. Trading With Money You Can't Afford To Lose

Successful day traders never trade with money that will destroy their lifestyle or family if lost. It then becomes a domino effect and fear will take over trading decisions. The worst possible trading choices will be made and bank accounts will be depleted.

So in summing it up, day trading is a great way to make a living and a very lucrative one if you have a system in place and can avoid the mistakes that were discussed above. Just remember to avoid emotion, make sure you have done your research and never trade with money that you cannot afford to lose.

To see how easy it is to make money trading stocks and to get a free trial of a proven system that has consistently produced profits go to Stock Trading Systems USA Review. Once you try the system you will wonder how you ever got along without it.

Reuters - U.S. consumers sought bargains on toys, clothes and electronics as holiday shopping kicked off this weekend, but an early rush to stores was slower this year and was not likely to change a weak outlook for the season, analysts said on Sunday.

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How To Do Currency Trading With These Tips

I'm here to share with you how to do currency trading with these tips. You have a spectacular opportunity to build a second income from the comfort of your own home. With the economy going the way it is, this is more practical and easy on the gas bill.

The first thing you need to weigh is the potential of when you trade. There are specific times of the day when there are huge amounts of people and money being traded. There are other times when there isn't so much. If you look at the times where less people are trading, you can end up being victim to a large bank or firm. At this time a bank can come in and make a huge trade that greatly affects the direction of a currency. If they did the same thing during a high volume time, they would have no affect. The reason being, is that market forces are in control. So many people are trading that there is no one trader that can manipulate the market. This is the optimal time to trade.

The next tip I'll give you is to start looking at trades as pairs of currencies. You're not looking at the USD or the Euro. You're looking at the USD and Euro with a comparison to another currency. This is why you see currency quoted as EUR/USD = 1.5000. You need to start understanding there are tons of different combinations for which you can look at a currency. So even in the most economic down turns, you're bound to find a profitable trade.

Lastly, get your hands on Forex Killer software. It has an automated trend finding feature, where it will find good trades for you to get into.

The automated software of Forex Killer will give you an immediate edge in the market. Make trades that work for your profit line. For more information on the Forex Killer software, check out Forex Charting Software.

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3 Steps to Making Money With a Forex Trading Robot

A high-school teacher of mine once told me: "If you can make it in forex, you're set for life." Everyday billions, if not trillions, of dollars are handled each day in the forex market; if you could only get you're hands 1% of that market volume... ah, think of the possibilities! Forex trading is one of the greatest things a person can do, if that person is good at it. The sad fact is, most people aren't good at it; for every 20 traders, maybe one of those traders will make a long-term profit and even fewer than that get rich. But if you do master it, you do stand to make a lot of money.

Why do you need a forex trading robot?

The forex market is highly volatile, meaning you can either make a lot of money, or lose a lot of money. Furthermore, a lot of brokers offer leverage, which means you can trade with hundreds of thousands of dollars even if you only have a thousand dollars in your account; again, this means that the earning potential is huge, but then again so is the losing potential. There are so many different factors to take into account and so many different loopholes, ignore one and the consequences could be disastrous. That's why you need a forex trading robot to scout the market for trading opportunities. Remember, these systems are built by professionals who know exactly what to look for in the market. Banks employ the services of people to generate their signals, with the right software, however, you can generate your own buy/sell signals from home.

1. Find the right forex robot. A lot of these so-called 'automated' robots out there are nothing more than a mish-mash of indicators thrown together into an incoherent mess and slapped with an exorbitant price tag. At the other end spectrum are indicators that are simply inaccurate. Of course these snake-oil salesmen are GREAT at covering themselves so you'll always find some overarching disclaimer saying something how the system won't always work. Granted, even the best system (and there are a few great trading robots out there) won't make you any money if you don't use it properly, which brings me to my next point.

2. Use the forex robot like it was supposed to be used! Really, folks, I can't stress this enough. You have to remember that the forex market is a complicated place (even with a forex robot), it's not simply a matter of clicking a button and making thousands, though it still is relatively simple if you find the right forex robot. Therefore, it is IMPERATIVE that you follow the instructions of the forex robot to a tee; the slightest deviation could rob you of precious profit.

3. The third, and probably the most important step is: focus on long term profits, not short term losses! Most people buy forex trading robots with completely unrealistic expectations, expecting to win every single trade. Remember, no matter how good the forex trading robot it isn't magic, a good forex robot can only tip the odds in your favor, so focus on long-term profits, like over a month or so. For instance, with a good forex trading robot you might win $1000 and lose $700.

There it is in a nutshell, it couldn't be simpler: find the right forex trading robot, use it properly and persevere.

Found those tips useful? Yeah, pretty general I know but it is pretty simple with the right forex trading robots. For more info, click here: http://forextradingrobot11.blogspot.com/

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Forex Trading Advice - 4 Common Sources of Advice Traders Take and Lose

There are some sources that give forex trading advice and they shouldn't be trusted and here we will look at what may seem good advice but is not, here are 4 examples...

Here they are in no particular order of importance - there all important!

1. Advice in A Forex Forum

The only people who hang around forums giving advice are, losing traders who just want to make themselves feel better, or vendors hoping to sell there products. If you want bad advice, a forum is a great place to go - steer clear.

2. Product Reviews

How can you independently review a forex product when you're selling it and have a vested interest in making it look good to make money?

Click most of the reviews and you see and you will normally go a site, where the writer gets a commission on the sale. There are loads of them on the net and the most popular ones involve the following:

- Day trading scalping courses or systems

Day trading and forex scalping doesn't work by its very nature and you should steer clear of them. You get presented with a track record (simulated in hindsight on paper not real money) but you wont win, ask for a real track record and see if you get one.

- Forex Robots

Again you get a simulated track record and the person normally tells you have to get used to the system, practice it and make it work. Strange that - if it's a robot, shouldn't you just plug it in and make money? Huge amount of these on the net and most will wipe you out.

3. News Stories From Experts

Don't those CNBC and CNN reports sound convincing?

They are and there well put together - but they won't make you any money.

Markets don't move on fundamental news (which is instantly discounted) they move on investor sentiment and future perception. Will Rogers once said:

"I only believe what I read in the papers"

He was joking - but there are huge amount of people, who believe what they hear from so called experts. Don't be drawn in by tempting stories, you will lose.

4. Brokers

Sure they do a good job placing orders etc but if they were any good at trading they wouldn't be brokers. A broker assisted account or broker news and tips, is unlikely to make you any money

So What is Good Advice?

Get down to your local bookstore or Amazon and stock up on some books from traders who have walked the walk, rather than talk the talk. You wnat people who have traded you can learn from, not just follow blindly.

Use the above and free resources online, to build your own forex trading system, based on forex charting.

Get a forex trading strategy you are confident in and this means building it yourself and it's a lot easier than many forex traders think.

At the end of the day, the best advice is your own from your trading signals generated from your system. In fact, it's the only forex advice that can lead you to long term currency trading success.

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Stock Options Trading - How to Profit From Falling Stock Prices

When it comes to making money on the Stock Market you will find everyone has their own view on the best strategy to use.

One of the most common strategies to make money in the short term is to buy shares and sell them at a profit once the share price has risen.

This is called Stock Trading, and can be a very effective way to profit from shares.

However just lately we have been looking at a downward and quite volatile move in our markets.

Right now many traders are sitting back 'waiting for the market to get back to normal' before they begin to profit again, but who knows how long bear markets last?

And what are these traders going to do for CASH in the meantime?

I believe in trading a strategy that suits the direction of the market, not waiting for the market to eventually comply with the criteria of just one particular strategy.

While everyone else has been running the other way in the present market conditions, there are quite a few traders who have been making consistent profits.

How are they making money on falling stock prices?

Well there are several ways to achieve this, some more complicated and costly than others. The most affordable, easy to understand and easy to implement trading vehicle I have found that will help you make money on a falling stock is Put Options.

Put Options began many years ago as a hedging instrument. That is they were designed as an insurance instrument for shares.

Basically a Put Option is a contact that relates to a particular stock and gives you the right to sell that stock at a fixed price within a certain period of time. For this right we pay a premium.

So an example of hedging would be if you owned some shares that you paid $ 20 for and bought a put option for insurance. This would give you the right to sell your shares at any time (during the life of the option) for $ 20, even if the share price fell to just a few dollars.

So how do we Make Money as Income using Put Options?

The most common way is to trade the actual Put Option and NEVER buy or sell the stock. This is called Options Trading.

As the share price drops in value, the value of the Put Option actually INCREASES. So when Options Trading we want to buy puts on falling shares and sell them to another trader at a PROFIT.

Let's imagine that ABC shares are trading at $ 40 and our analysis tells us that the price may fall even lower.

We could buy an ABC $ 40 Put Option and for this we might pay $ 2.

We now have the right to sell those shares at any time before expiry of the option for $ 40. But we don't own the shares, nor are we interested in owning the shares.

Soon after we buy the option, the share price falls to $ 30. So if we wanted to, we could buy the shares now at the market price of $ 30 and sell them with our put option for $ 40 resulting in a $ 10 profit.

That sounds appealing?

To do this however, we would have to come up with the $ 30 each share to be able to buy them before we could get that $ 10 profit in our hot little hands. What if we don't have that kind of money to spare?

Here's the power!

Because the share price has fallen, our Put Option could now be worth $ 12. And because we only paid $ 2 for it initially, we are now looking at a $ 10 profit.

We would then sell the put option on the market for $ 12 and realize our $ 10 profit, and all we had to come up with to do this was the initial $ 2 we paid for the option contract.

This is called leverage and it is a very powerful way to make money from a smaller amount of money.

And the maximum amount we stand to lose if we get it wrong? Just the $ 2 we paid for our option in the first place.

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Reuters - U.S. auto sales plunged near 25-year lows in October, led by a 45 percent drop at General Motors Corp , with no sign the industry's year-long slump had hit bottom and doubts persisting that all the major automakers can survive.

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Automatic Income Generation Through Forex Trading

Automatic income generation through forex trading is not as difficult as people usually consider it to be. Anybody who is "educated enough" can participate in this type of investing and generate profits. The key here is to be educated enough. Like any professional trader, you can also make handsome income through such investments, but you must have the correct knowledge to do that. You must be aware of the tools and strategies that can make the big difference for yourself. Let me share some of the important factors that might play an important role in documenting your success story as a forex trader.

The Right Form Of Education

Always remember that forex trading is an automatic income generation method but only for the educated traders. Therefore, it is very important for you to attain the right form of education. However, you must keep yourself away from the infomercial Forex riches classes. They may not be very helpful for the beginners. You will only end up spending lots of money with little or no return at all. Word of mouth recommendations are perhaps the best way to find the right training program regarding automatic income generation through currency trading. You should also note that there are hundreds of such training courses and materials available in the market. Therefore, it definitely pays to shop around.

Understanding The Use Of Forex Tools

Different Forex tools also play a very important role in determining the amount of profit in your venture. Some of these tools can even send you important trading signals through the email or SMS. Likewise, some tools are capable of sending you various buy and sell alerts. Most of these tools are software programs. You can get these tools from your favorite Forex trading sites on the Internet. However, make sure that your decision should not be based only on the information that is provided by these tools. In order to make the best use of the automatic income generation method, you must also do a technical and fundamental analysis thoroughly in order to decide whether you should buy or sell or simply stand aside.

Your Customized Trading Strategy

It is good that you are careful and are using tried and tested strategies, but at the same time, it is also important for you to develop your own personal trading strategy. It is, in fact, not very prudent to always rely on the suggestions of your broker. If you are capable enough, you must include your own personal game plan to ensure better automatic income generation. Always remember that a Forex trading strategy cannot be something generic. Last, but not the least, you also need to be very careful while you are setting up an account with a FOREX broker.

If you enjoyed this article and want more information on how to automate you income through Forex Trading. Discover a proven step by step system, never revealed before to generate income automatically. Why not visit? and get your free $67 course.

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Reuters - Lloyds TSB , the British bank which has agreed to take over HBOS , could face competition from the founder of HBOS's internet banking unit who is working on a rival bid, Britain's Sunday Times newspaper reported.

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