Types of Market Orders (Part I)

By Ahmad Hassam

Just to remind you that forex markets are open 24 hours a day, five days a week. A market move is just likely to happen while you are asleep or in the shower as while you are sitting in front of your computer screen. Currency traders use market orders to catch market movements when they are not in front of their screens.

There are many types of market orders. Proper use of market orders is very critical to your trading success. You should think of the different types of market orders as trades waiting to happen. You are in the market so be as careful as possible while playing with the market orders if you enter an order and the subsequent price action triggers its execution. Trading can be very difficult without these market orders.

Professional currency traders routinely use market orders to limit risk in volatile or uncertain markets, implement a trade strategy from entry to exit, capture sharp short term price fluctuations and preserve trading capital from unwanted loss. Market orders are essential for maintaining trading discipline and your peace of mind as a trader.

Currency markets can be notoriously volatile and difficult to predict. There can be sudden price swings. Using market orders can help you capitalize on short term price movements while limiting the impact of any adverse price movements.

You probably dont have a well thought out trading plan if you dont use market orders. A disciplined use of market orders will help you quantify the risk that you are taking while there is no guarantee that the use of market orders will limit your losses and protect your profits in all market conditions. It will also give you the peace of mind in trading.

Multiple types of market orders are available in forex markets to forex traders. However, you should know that not all market orders are available at all online forex brokers. So when you open an account with a forex broker, you should add the market orders to the list of questions you need to ask the broker.

Take Profit Orders: When you have an open position in the market, use the take profit order to lock in profits. There is an old market saying, You cant go broke taking profits. Suppose you are short GBP/USD at 1.2354. Your take profit order will be to buy back the position and be place somewhere below 1.2334. Making you a profit of 20 pips! If you are long EUR/USD at 1.2845, your take profit order will be to sell the position somewhere higher close to 1.2875.

Limit Orders: Dont forget the saying, Buy low and sell high. A limit order is any market order that triggers a trade at more favorable levels than the current market price. If the limit order is to sell then it must be placed somewhere above the current market price. If the limit order is to buy, it must be entered somewhere below the current market price. - 23305

About the Author:

Mr. Ahmad Hassam is a Harvard University Graduate. He is interested in day trading stocks and currencies. Know Forex Scalping. Learn Forex Trading!

Professional Forex Trading - How The Pros Trade

By James Oleander

Almost anyone can become a forex trader, because you dont need any highly specialized skills to succeed, and you definitely dont need a degree to be successful. As long as you have the basic aptitude for trading, you should be ready to begin.

It's true that to work for a large financial company, you'd have to have some qualifications, degrees, or credentials, or at least know a lot of people in the world of finance. However, the nice thing is that you can begin trading on your own at any point. You do need an internet connected computer and some financial capital so that you can begin trading it.

Wouldn't it be wonderful to earn good money without getting out of your pajamas in the morning? This is very possible with forex trading. There are those who are very successful who have degrees in business and finance, but there are also those who are very successful and who have none of that.

At this point you must be asking yourself what skills you do need to be able to trade like a professional.

The only knowledge that will assist you with forex trading is a basic understanding of mathematical principles, especially basic arithmetic. Your success is more likely to be determined by whether or not you have certain useful character traits rather than a specific skill set.

There are other less tangible skills needed to succeed in Foreign exchange markets, but these are no less significant. You must be prepared to have an even-keel when approaching the market. Losses and setbacks are inevitable. The key is to able to persist beyond these temporary losses and continue on-- in fact, early on, when you are acquainting yourself with the market, don't be surprised if you are dealt a major setback or two. It's in the very nature of the market and of the learning process. So stay focused on the long term.

Another character trait you will need to make this work is discipline. You must be able to stick with your game plan even if you start losing money in the short term. You have to remember that the trading system will work in the long run and not lose your nerve or stop using the system. If you start putting down too much money and losing focus after you take a few hits, you shouldnt get involved with forex trading.

For one thing, anyone who works out of their home has to be to get the job done and not get distracted by household or social tasks. But it's also true that you're working with money and you must be disciplined to keep working and not get too disappointed or too excited. You will develop your own way of trading, but the attributes you bring to the system are probably just as important, if not more so. - 23305

About the Author:

To trade forex, you definitely need to check out this website: Forex Trading Platform Review

Learning To Use The Stochastic Oscillator Can Make You Rich Shocker

By Sam Nielson

The Stochastic oscillator is meant to girate between 100 and 0. A very low level means emotions have caused people to sell in panic. A very high level means emotions have caused people to become too greedy.

When the Stochastic oscillator is low, look to capitalize on peoples fears by buying. When the Stochastic oscillator is high, look to capitalize on peoples greed by selling. Buying when the Stochastic is low is emotionally challenging because you will be afraid to buy the terrible looking chart. Conversely, selling when the Stochastic is high is emotionally challenging because the market will look great and you'll feel greedy, like you could make even more money.

Newbie traders use indicators by themselves. Don't do this. Use the Stochastic indicator with other technical indicators. Keep in mind that when a powerful uptrend begins, the Stochastic indicator quickly becomes overbought and begins showing premature sell signals. In a sudden panic sell off, the Stochastic indicator quickly becomes oversold and begins showing premature buy signals. Therefore, this indicator only works if you use it with other trend-following indicators.

What you need to do is to enter a position when the Stochastic indicator is at an extreme. If you try and wait until the Stochastic indicator turns, you'll miss too much of the move. Think of the extremes of the Stochastic as telling you how much emotion is in the market. The more the emotion, the better you can take money away from other traders.

If the Stochastic has a bullish divergence from the price, go long. If it has a bearish divergence from the price, go short. Bullish and bearish divergences are just a short way of saying that the Stochastic moves in the opposite direction as the price of the stock.

Perhaps the most helpful use of the Stochastic is in that it tells you when you should NOT buy. Do not buy when the Stochastic is high. Do not short when the it is low. Moving averages are better than Stochastics at spotting trends, the MACD is better at spotting reversals. But the Stochastic is the king at telling you when you should not trade. - 23305

About the Author:

May this article teaches you how to use the Stochastic Oscillator better and make a lot of money. For more trading tips on the Stochastic go to stochastic oscillator

FAP Turbo Forex Trading Robot 101

By Michael Torc

The automated Forex robot industry has grown dramatically in just a few short years. There are a lot of Forex trading robots on the market. They are designed to diagnose market conditions and carry out trades robotically without human intervention. Automated trading robots eliminate the emotional element. Greed and anxiety cause even experienced traders to make awful decisions.

All robot manufacturers claim that their Forex trading robots will help you make millions. When you download their product and test it on a demo account, it works like magic. You always see great results in back tests. But when you go ahead and let it operate with real money, you get wiped out in a couple of days.

The problem with many a Forex trading robot is that they use cheap algorithms. They have been programmed to detect patterns that have occurred in the past. But are not designed to handle abrupt, unique or unpredictable conditions. When an unforeseen market even occurs, they become unstable and stop functioning. Badly designed robots like this have cost Forex traders losses in the Tens of Thousands. Naturally, there is a lot of hostility about Forex trading robots.

FAP Turbo has adaptive algorithms and uses artificial intelligence.

Unlike most robots, FAP Turbo refreshes its results every 15 minutes. Thus, FAP Turbo gives you almost real-time trading reports of its performance.

One other great feature of this product is that it can work with any size account. It conducts trades without human intervention and its expert adviser runs on a metal trader 4 platform. The advantages of the Some of FAP Turbo's capabilities are:

1) Downloading, installing and setting up the product is a piece of cake. 2) It has a 95.9% winning rate. 3) The start up investment is as low as $50. 4) Its draw down is only 0.35% compared to most robots that have a draw down of 10% - 20%. 5) The robot can be hosted on a server meaning that your computer does not have to be turned on 24/7 and tied up. 6) Customer support is outstanding. 7) The video tutorials are concise, professional and each takes about 5 minutes to watch. 8) The software screens and features are intuitive and user friendly. 9) Not least importantly, this Forex trading robot does all the work for you.

Customers have lifetime access to the membership area. That is the area where you can find tools, videos and interact with other users. FAP Turbo is one of a small number of winners among hundreds of Forex trading robots out there. This one is for real and is not pure hype.

As with all other investments, currency trading involves some risk. Practice on a demo account is always recommended before you trade in the Forex. If the product does not deliver during the demo run, you can return it within 60 days and get an 100% refund without hassles.

I have been using this system since the end of 2008. Like most traders, I experimented with a demo account and then moved to live trading. The results have been consistently good. - 23305

About the Author:

Michael Torc is a successful Internet Marketer and a member of Mensa. He highly recommends FAP Turbo as a means of earning an extra income stream. For more information, visit http://fapturbo.dspj.info. Make sure you watch the video.

Can Forex Software Reviews Help You Choose The Software You Need?

By Ryse Edwards

Forex trading is different than trading on the U.S. Stock Market. This can be both good and bad depending on how prepared you are. Looking at forex software to help you is smart, but how do you know which software to buy. This is where forex trading reviews can come into play.

Is it a bit difficult for you to figure out which software you want to use in your Forex trading endeavors? It can be hard, especially when you think about how many different software packages are available.

The first thing that you are going to need to do is do a bit of reading if you want to find the software that works best for you. In order to do this you can look up some Forex software reviews.

If you do your research and read a lot of different Forex software reviews, then there is no doubt that you will learn many different things regarding those software packages. You shouldn't rely on them however, always make sure that you do your own research. By learning everything that you possibly can, your decision will be rather simple.

These reviews will provide you quite a bit of information and in most cases they are written by someone who has some experience with the software package that your are considering. There may be some cases where the person who wrote it doesn't have the necessary experience, but that's why we have what's know as independent research.

Soon enough you will be able to figure out what software to purchase. You will have to do plenty of research to find out what type of Forex software you want. Read the reviews and know what's in so that you can get what's best for you.

Don't depend upon the reviews. Do your own research and learn things on your own so that you can purchase the right software for your needs. - 23305

About the Author:

Before you purchase any Forex Software, make sure that you visit Ryse Edwards' website and read his Automatic Forex Robots Reviews first. Click HERE now for more information.