How to Become a Trader - Initial Tips !!

How to Become a Trader Depends on YOU!

It depends on how much you want to invest in time, money, learning and frustration until you are eventually satisfied with your efforts. Nothing beats the sense of achievement every time you trade successfully and the more consistently you trade profitably the 'better' you become at it. Success often breeds success and this is especially true in the forex market.

Anyone can be a trader but what about a profitable trader?

A Profitable Trader is therefore, what you want to become. Well, as with most things in life, profitable trading does not come through luck and 'Fancy Systems' - although these sometimes help! It comes from perseverance, trial and error and most of all a belief in ones abilities.

This is not some 'revved up pep talk' but a fact. I have never known a successful (profitable) trader that didn't believe in his/her own abilities. Please don't confuse this with arrogance - it's not, what it is is 'self confidence'. If you are not confident in your own abilities then how are you going to be confident in the trades that you make let alone anything you do in your life.

The First Tip:

The first step therefore is to look at yourself truthfully. Ask yourself these vital questions.

I. How do you cope with failure? Each position where you lose money on is a failure and you will have many of these.

II. Are you a risk taker? If not then don't trade, as you will be taking risks every day and some will involve the loss of you own money.

III. Are you a fast learner? You will need to be otherwise you will run out of money and lastly are you in this for the long haul and truly want financial independence?

...You Need to Answer these Questions First!

I apologize if I appear to be a 'devils advocate' in this article but is essential if you want to become a successful trader.

There are other skills that you must learn on how to become a trader - you will need to sharpen your edge such as acquiring a detailed knowledge of the forex market, for example, pips, spreads, technical analysis, trading platforms, trading signals and fibonacci retracements and so much more. You should immerse yourself in joining forums and 'preparing' yourself for success. Do not dive in at the deep end before learning to swim!

...To find out More how You can Become a Profitable Trader on a Consistent Basis, Please Visit Here! - You Will Learn Valuable Ways and Tips to help You Make Money Trading the Forex Market!

To Your Online Trading Success,
A Professional Forex and Stock Market Trader
Dan A.

Economic Recession and How To Deal With It!

Economic Recession may be a new term in your ears but in essence, it is actually a common economic term used to refer to the slowing down of economy. You see, a country's economy follows a natural cycle. Sometimes it's up and sometimes it's down. You just don't realize that it's happening because it has not gone this bad since the wall street crash decades before. Now, United States is feeling the heat once again with the rising costs of living and transportation as well as the crash of the real estate industry and just recently the crash of the top banks in the US.

During these times, all you can do is to hope and pray that you will still be able to keep your job and survive the recession until everything is ok again. To do this, you need to save up and make sure that you are ready for every eventuality. Here are some tips on how to deal with every American's concern right now.

1. Be Prepared

What you know cannot kill you. There is nothing wrong and being prepared for potential problems. Even if right now, you don't have any problems financially, it pays to get ready for the coming challenges. You can do this by saving up some money and putting them in the bank. That way, you can use something for the rainy day.

Think of other ways that you can be prepared and plan around it. Look at your expenses every month and check where you can cut off the extras. With them side by side, you will know just where you are overbudgeting. This is also an excellent way to plan and save for future expenses like for instance, your children's tuition fees.

2. Save with Your Consumption

Another way to do this is to make sure that you will be spending less for the household. You can do this by cutting expenses that are not necessary like in luxury items such as clothes, entertainment, trips. If you don't need it, don't buy it. Only purchase the items that you know you will be using.

You should also save with your consumption of electricity, gas and water as these are areas that you may not notice you are overbudgeting but usually you are. For instance, ironing clothes piece by piece and not by bulk consumes more electricity. The same goes with leaving the door open when the airconditioning unit is turned on. Always make sure that you turn off the TV after watching it or to be sure, purchase a unit that has a programmable on and off button that you can use. There are also airconditioning models and heaters that you can buy that have this feature.

3. Don’t Panic!

Economic recession as mentioned to you is a cycle and usually it will have an end. There is no need to feel panicky and feel that all hope is already lost. The more that you feel the panic, the more problems you will have because panic can make you do things without thinking about it or make you so nervous you will be mentally blocked out. So just ride the waves and go with the flow. You'll never even feel that it's there.

Recommended Ebook: 'Recession Survival: How To Profit From An Economic Recession'!...Download it FREE Now! Click Here.

To Your Stocks Online Success,
A Professional Stocks and Forex Market Trader
Dan A.

P.S: Looking to Make Serious Profits from the Stock Market in the Economic Recession Times? Go Here.

Getting Prepared for The Trading Day !!

With the Great Challenge of Facing the Stock Market each Day and the hope of pulling money out of it on a regular basis, a trader can do few things more important than prepare adequately. It should be no secret that many of the brightest minds in the world are at work to make their living in the stock market, and such competition cannot be taken lightly! Furthermore, while traders should not be in the prediction business, we must certainly have a game plan.

As time progresses, a trader will inevitably learn from his mistakes. This experience is the foundation for laying out a game plan in preparation for the Trading Day. Merely being a student of the market and of one’s own results will teach a trader to react certain ways to market conditions or events. It is this foundation which should be built upon in order for the trader to elevate his game to the next level (and it IS a game).

In order to develop a trading plan, a trader must begin with his personal style in mind. Swing trading involves a plan that may evolve over the course of a few days to a few weeks, while day trading can be faster-paced and more spontaneous. Personality, patience, and profit objectives will play a large role in which style of trading one may wish to employ, but the trader should choose his method as he plans for success.

Once the trading style is known, the trader must take into account current market conditions. Are recent days or weeks characterized by lasting trends, or by narrow ranges and choppy action? Knowing the answer to this question will put you miles ahead of many other traders who walk in each morning without taking current conditions into consideration. The market will catch you off guard as it changes its rhythm or volatility, but recent history serves as a guide until things change. This means choppy, low-volume, range-bound markets should likely be approached with smaller positions and the expectation of taking profit more quickly and in one piece. A trending market with larger range days and greater volume allow the trader to take bigger positions in hopes of scaling out in pieces as the market moves in the trader’s profitable direction.

Whether After the Market Closes or early in the day prior to the market’s open, some time should be spent determining an IF/THEN strategy for the upcoming session. Some traders may subscribe to a swing trading newsletter or converse with other successful traders, while others prefer to do their own research. One excellent way to find the following day’s trading list is to screen for stocks which meet custom criteria for price, volume, volatility, etc. An affordable stock charting software program will quickly narrow a large list of stocks down to a specifically filtered handful of trading candidates. The DoublingStocks Inc. 'MARL' is one such program, and it will scan thousands of stocks in just seconds or sort them by more than 100 included criteria or unlimited custom criteria. By screening for a handful of potential trades, the decision-making process is simplified and a plan is easier to carry out.

Consider finding a list of trade candidates for both the long and short side of the market, setting specific entry and exit prices, and then simply execute that plan. IF the long candidates rise to your entry prices, THEN purchase them. IF the short candidates break the levels of support you see, THEN short-sell them. IF none of your trade candidates trigger their entry prices, THEN do nothing! This kind of game plan will allow you to effectively respond to market conditions without having to predict direction or hope to be bailed out of losing positions. Approaching the market with the IF/THEN mentality also will help the trader to execute a plan, rather than fight the emotional urges to find excitement or force trades. Sometimes things will work exactly as planned and other times the market will whipsaw you right out of positions. Meeting the market with a game plan and sticking with it will undoubtedly allow the trader to work with less stress and emotion, which are two of the worst negative forces that traders face.

Feeling Well Physically is a very important trait which must be present for a trader to profit. Staying healthy and rested allows the trader to work with a clear mind and focus on the task at hand. Additionally, personal relationships can play a large role in a trader’s effectiveness. When life is rocky away from the trading screens, the successful trader must be willing to cut back on trading size or even back away from the market entirely. A prideful ego will not only cause rough waters on the home front with relationships, but it will also damage the trading account! A clear conscience allows quality rest and a fresh start each morning for returning to the market sharp and ready. Make the most of your weekends to catch up on personal to-do’s and relaxation. When Monday arrives, if you aren’t at your best, don’t expect your trading to be!

Finally, as the morning breaks and the market’s opening nears, follow a routine to get into the proper state of mind for following your plan. This may include reading up on current events, reviewing your charts one final time, grabbing your morning caffeine, or listening to your favorite song. Whatever it is, find what works for you when it comes to getting into the best mindset to extract profits from the market. Remember, the competition is serious and fierce, sharp-minded, and most of all, prepared. You should be too!

...I HOPE that 2008 is a breakthrough year for you in every aspect of your life - including Trading! Sign up for your FREE Trial to our Stock Newsletter and see if you aren’t closer to reaching your goals in 2009! Go Here.

To Your Stocks Trading Success,
A Professional Stocks and Forex Market Trader
Dan A.

"DoublingStocks" Review: What Is It and Who's Behind It?

IF YOU ARE a novice in investing in stocks and don’t know where to start then 'DoublingStocks' is just for you. 'DoublingStocks' is a newsletter that is backed by an intelligent software, which was developed by two computer geeks by the name of Michael and Carl. they had designed a stock analysis software program for Goldman Sachs; a program that nets them $4 Billion profits a year!

The software consists of a stock picking robot program called 'Marl'. This robot program analyzes each and every stock in the market using the technical analysis. The analysis is done on the prices of the stock and the pattern in which the stock prices have risen or gone down and then uses the same analysis to predict the movement of stocks in the future. The bot in the software searches on the net for top stocks worth investing for and shows you the results in a table format. It automatically ranks the stocks according to their returns and gives you an instant idea as in which stocks you can invest your hard earned money.

How 'DoublingStocks' Works?

The 'DoublingStocks' recommendations spell out what stocks to buy and why. They also give you the entry point (what price to pay) and a target price (when to sell). I find that these picks are usually a week or more ahead of anyone else picking them up and recommending them. Which puts those of us who have bought, on very solid footing.

After using 'DoublingStocks' many people have experienced a jump of about 84% in their returns. Now isn’t that really a lot of money? Michael knew that investment derivative companies such as Sachs and other large investments firms manage portfolios worth millions of dollars of firms such as Google and Coca Cola. However their scope of investment in stocks is limited to just a few large firms.

'DoublingStocks' is capable of showing stock trading chart patterns as well which becomes easier to comprehend. For example, when the price of the stock is displayed in the form of a chart you can easily spot the pattern of the stock (instead of merely seeing figures and trying to understand). 'DoublingStocks' uses its own database to scan all the stocks that are listed on the OTC and Pink sheet exchanges.

The software will then narrow down on stocks that look bullish in the near future and display signs of rising prices. All these stocks are added to the watch list of the software so that you can follow these stocks in the near future.

The software has the capability to monitor hundreds of stocks at the same time. After watching the current patterns of the stock, the software automatically develops the capability of the most likely direction that the stocks will follow. 'DoublingStocks' also has the capability of analyzing the average price that a particular stock is positioned at. If it finds any difference in the rise or fall of the stock even marginally (like 50 cents) then it start scrutinizing the stock in detail.

Therefore, you will see how 'DoublingStocks' help people make a perfect decision in investing & trading the stocks and reaping rich rewards from it.

Unlike any other professional stock trader which can analyze one stock around eight to ten seconds, 'DoublingStocks' can analyze up to seven charts per second! Hence the software is extremely selective in choosing only the best stocks to recommend to the investors.

Who Should Not Subscribe This Great Newsletter?

As you know that every coin has two sides and so does 'DoublingStocks'. The software is not for you in case you want to learn more about the share market and want to gain a broader view of it. The software only displays the stocks that perform and provides little information about other stocks. Hence 'DoublingStocks' is not recommendable for people who are still struggling to understand what is stock market.

This has got to be the least expensive newsletter out there. And I am guessing that is why some people think it is a scam of some sort. They can't believe this kind of information can be so cheap without some kind of a catch. But I have found 'DoublingStocks' rivals those costing thousands of dollars a year! And most of the people I know, they get the entire cost of the subscription, plus a substantial profit on their very first trade!

Isn't that Sounds Amazing?

If 'DoublingStocks' has any openings left when you read this, give it a try. If it turns out not right for you, they will give you your money back. So you really have nothing to lose; and that is unique in this business. The expensive newsletters won't give you your money back no matter what.

...YOU Can Try The 'DoublingStocks' Newsletter, Absolutely FREE For 8 Weeks! Start By Signup Today !!

To Your Stocks Trading Success,
A Professional Stocks and Forex Market Trader
Dan A.