Did you know that there are 4 mains types of trader and depending on what sort you are will determine many parts of your trading strategy and trading plan. The 4 types are generally referred to as: scalping, day trading, swing trading and position trading. When you determine the type of trader that you are it will also determine the time frame in which you will be making your trade. This will be a very important decision that you need to make when deciding how you want to learn to day trade, maybe using a stock picking tool like stock assault software
1. Scalping Trader, if you scalp the markets this means that you are only looking for a few ticks profit per trade and you may only be in the trade for a few seconds or a minute at most. trading. Some people will also call this day trading but it’s really micro day trading, buying the bid and selling the offer, it’s fast trading and you might end up doing 10-50 trades a day. This can be quite a stressful way of trading.
2. Day Trader, the true day trader opens and closes their trade within the same trading session, usually this mean the same day, but unlike a scalper the trade may be held for a few minutes up to several hours. Usually day traders make about 2-6 trades a day and most of them will be in the 5-30 minutes range. This is a less stressful way of trading than scalping but it still requires a lot of attention and quick decision making.
3. Swing Traders, swing trading usually means that a position is held for between 1 to 5-10 days, although some swing traders may keep a trade on for a longer time most are within this time period. For many this is the idea way to trade because it allows you to review your trade overnight, at the very least you have several hours to make your trading decisions.
4. Position Traders, this just means that you are going to hold onto your trade for longer than 5-10 days, maybe even as long as a few months.
If you are still working out how to day trade then it may be better to go with the longer time frames as it gives you more time to think, of course you should also take the best technical analysis course you can find.
A1528561
One of the most popular technical analysis indicators is the simple moving average also known as SMA, if you learn how to use these correctly they can be a very useful tool to help you to make good trading decisions.
The 50 simple moving average, or 50 SMA, is simply the sum of the last 50 values for each period, divided by 50, this is a moving window, as time moves on so does the average. Notice that I used the word period because this indicator works on any time period in exactly the same way.
It can be used on monthly, weekly, daily, hourly, 30 minutes, 10 minute and on whatever time period you want to monitor and trade. Although the SMA is the most widley used there is also the exponential moving average or EMA. This is a weighted version of the formula using the mathematical exponent function to give more weight to the more recent values, this has the effect of making it a slightly faster average that many traders prefer.
The truth is that it probably does not matter if you used the SMA or the EMA, what does matter however is that you use one or the other and then be very consistent with it. Do not switch between them, it is more important that you learn to trust your chosen indicator then a slight difference in its value.
The SMA is oftern used to determine what the trend of the stock is, depending on the value used it could be a short term, medium term or long term trend. An important point to note is that moving averages are most useful when the stock is trending, if the moving average is flat, i.e. horizontal on your chart it can become very choppy, this is a good time to stay out of the market.
The general rule is that if the chart price is above the SMA the trend is up, if below the trend is down. This is very important to understand because it forms the basics of trend trading and trading with the trend.
For the short term trend many traders like using a 5-8 SMA or EMA, here is a trading secret, never trade again the direction of the short term tend, actually this is really just common sense when you think about it.
Moving averages often act as support or resistance, many traders use the 15, 21 or 30 SMA for this purpose.
There are a number of other very important moving averages that you need to know about, these are the 50, 100 and 200 SMA, and this mainly applies to the daily and weekly charts. A lot of big players in the markets, like the the mutual funds, investment banks etc use the 50 and 200 SMA as support and resistance, if they decide to buy or sell based on these you need to follow suite, the 100 to a lesser extent. These are very useful averages to watch if you trade EFT’s like an Oil ETF.
A useful tip is that when a stock breaks through one moving average it will often move all the way to the next, for example, if a stock breaks the 30 SMA it may move to the 50 before finding some support or resistance.
A844534297
There is a lot of hype surrounding options trading, and for good reason, it’s a good way make a lot of money fast, or can be used to grow your capital consistently month after month.
There’s also a lot of hype about how complicated it is and why you need to spend thousands of dollars on options trading education before you get started. Needless to say this last statement usually comes from trading seminar companies trying to sell your their trading course on options.
Lets cover a few of the basics about options and set you straight about a few important points. Firstly yes it is true that you can make a lot of money trading options, but of course you can also lose money just as fast.
When trading stocks your leverage is 1:1, if you go on margin you can get get 1:2 leverage, but thats about it. With options it is not quite as straight forward to calculate the leverage but generally speaking you can get between 1:5 and 1:10 when you buy an option on a stock, or ETF.
So with 1:10 leverage, when the stock increases by 5% your option can increase by approx 50%, and this can happen in just a few days, this is why swing trading strategies using options on stocks is so popular.
However the downside is that a big loss can also happen, if the stock drops by 5% your option can also drop by 50%, at which point you may want to close the trade and save some of your option value, it really depends on what your stop loss and risk.
What I’ve described above is called directional option trading where you are betting on the getting the direction of the stock movement correct, this is highly speculative. Options can also be used in option strategies which are much more non directional, such as covered call trades, credit spreads and Iron Condors. In these trades there is much less dependance on getting the stock direction correct, but it still matters.
So should you trades options?, in my opinion you should not do directional option trades until you become very good at trading stocks. This is because you really need to be very precise with your entry and exit strategy and trading plan, and be very good at technical analysis.
Whereas if you want to do non-directional option trades you don’t need to be such an experianced stock trader to be successful, but of course it does not hurt either.
Learning how to trade options is a very useful skill you have, but don’t rush into it and blow out your account. Make sure that you get a good options trading education before you start, and also make sure that you have a very solid stock trading education as well, such one from Top Dog Trading Review.
The most successful floor traders are those that have the most experiance, this is no coincidence and should be a pointer for those who aspire to become a good trader. Forex trading can be likened to being a sportsman, such as a golf pro or tennis champion, you need to be trained and in good physical shape. Skills are needed which must be developed over time and practiced until they become 2nd nature. If you want to learn how to day trade you must be prepared to put in the effort. Here are some of the key skills that you must develop as a trader.
1. Technical analysis can be used for futures as well as regular stocks, options and bonds that most people trade. This can give you an edge over other traders who have not taken the time to study the charts support and resistance areas, trendline and patterns. Learning technical analysis is really a must do if you want to trade futures successfully.
2. This is a very basic point but is very important, always have your trading plan prepared before you enter a trade, never try and create it on the fly, you will be much too emotional. Make sure that you have an entry and exit point in your plan.
3. Keep your trading losses small!, this is the one thing that every trader must do if they want to stay in the game for a long time. By doing this you will preserve your trading capital allowing you to trade another day. Your small wins will compensate your small losses allowing your big wins to give you an overall profit
4. Over trading is a big mistake that a lot of amateurs make. Professionals tend to be more patient and wait for the better opportunities to come along, this is called cherry picking and takes both patience and discipline. These are must have skills that you must develop.
5. This is a big day trading tip, it is important that you track all your trades and review them to see where you are making the mistakes. This is quite hard work, but this is what separates the professionals from the amateurs. Unless you do this you will keep on making the same mistakes. The best way to do this is to keep both a daily, weekly and monthly log.
6. Only trade when you are both physically and mentally prepared. This is sometimes overlooked but is very important. Do you think a golf star can win a game when they are tired and mentally not focused?, it’s not likely. Being prepared means getting a good nights sleep, having your trading station and charts well prepared before the market opens, taking the time each and every day to review your trading plan and rules. Finally it’s important to have the mental frame of mind and confidence that you are going to be successful today in your trading.
7. If you are new to trading futures take the time to paper trade until you are very confident that you are going to make money. You will know when you are ready because you will start to hate paper trading knowing that you could be making real cash profits on a consistent basis.
Remember that the markets only trend for about 20-35% of the time, the rest is either sideways or very choppy, if you want to do trend trading to win you must be fully prepared when the opportunities arise.
A989654354
There is a lot of hype surrounding options trading, and for good reason, it’s a good way make a lot of cash fast, or can be used to grow your capital consistently month after month.
There’s also a lot of hype about how complicated it is and why you need to spend thousands of dollars on options trading education before you get started. Needless to say this last statement usually comes from trading seminar companies trying to sell your their trading course on options.
Lets cover a few of the basics about options and set you straight about a few important points. Firstly yes it is true that you can make a lot of cash trading options, but of course you can also lose just as fast.
When trading stocks your leverage is 1:1, if you go full out on margin you get get 1:2 leverage, but thats about it. With options it is not as straight forward to calculate the leverage but generally speaking you can get between 1:5 and 1:10 when you buy an option on a stock, or ETF.
So with 1:10 leverage, when the stock increases by 5% your option can increase by approx 50%, and this can happen in just a few days, this is why swing trading strategies using options on stocks is so popular.
However the downside is that a big loss can also happen, if the stock drops by 5% your option can also drop by 50%, at which point you may want to close the trade and save some of your option value, it really depends on what your stop loss and risk.
What I’ve described above is called directional option trading where you are betting on the getting the direction of the stock movement correct, this is highly speculative. Options can also be used in option strategies which are much more non directional, such as covered call trades, credit spreads and Iron Condors. In these trades there is much lower dependance on getting the stock direction correct, but it still matters.
So should you learn to trade options?, in my opinion you should not do directional option trades until you become very good at trading stocks. This is because you must be very precise with your entry and exit strategy and trading plan, and be very good at technical analysis.
Whereas if you want to do non-directional option trades you don’t need to be such an experianced stock trader to be successful, but of course it does not hurt either.
Learning how to trade options is a very useful skill you have, but don’t rush into it and blow out your account. Make sure that you get a good options trading education before you start, and also make sure that you have a very solid stock trading education as well, such one from Top Dog Trading Review.
Did you know that there are 4 mains types of trader and depending on what type you are will determine many parts of your trading strategy and trading plan. The 4 types are: scalping, day trading, swing trading and position trading. When you determine the type of trader that you are it will also determine the time period in which you will be making your trade. This will be a very important decision that you need to make when deciding how you want to learn to day trade.
1. Scalping Trader, if you scalp the market this means that you are only looking for a few ticks profit per trade and you may only be in the trade for a few seconds or a minute at most. trading. Some people will also call this day trading but it’s really micro day trading, buying the bid and selling the offer, it’s fast trading and you might end up doing 10-50 trades a day. This is a very stressful way of trading for many people.
2. Day Trader, the true day trader opens and closes their trade within the same trading session, usually this mean the same day, but unlike a scalper the trade may be held for a few minutes up to several hours. Usually day traders make about 2-6 trades a day and most of them will be in the 5-30 minutes range. This is a less stressful way of trading than scalping but it still requires much attention and quick decision making.
3. Swing Traders, swing trading usually means that a position is held for between 1 to 5-10 days, although some swing traders may keep a trade on for a longer time most are within this time period. For many this is the idea way to trade because it allows you to review your trade in the evening, at the very least you have several hours to make your trading decisions.
4. Position Traders, this just means that you are going to hold onto your trade for longer than a few days, maybe even as long as 1 to 2 months.
If you are still working out how to day trade then it may be better to go with the longer time frames as it gives you more time to think.
A1528561
One of the most popular technical analysis indicators is the simple moving average also known as SMA, if you learn how to use these correctly they can be a very useful tool to help you to make good trading decisions.
The 50 simple moving average, or 50 SMA, is simply the sum of the last 50 readings for each period, divided by 50, this is a moving window, as time moves on so does the average. Notice that I used the term period because this indicator works on any time period in exactly the same way.
It can be used on monthly, weekly, daily, hourly, 30 minutes, 10 minute and on whatever time period you want to monitor and trade. Although the SMA is the most commonly used there is also the exponential moving average or EMA. This is a weighted version of the formula using the mathematical exponent function to give more weight to the more recent values, this has the effect of making it a much faster average that many traders like.
The truth is that it probably does not matter if you used the SMA or the EMA, what does matter however is that you use one or the other and then be very consistent with it. Do not switch between them, it is more important that you learn to trust your chosen indicator then a slight difference in its value.
The simple moving average is primarily used to determine what the current trend of the stock is, depending on the value used it could be a short term, medium term or long term trend. An important point to note is that moving averages are really only useful when the stock is trending, if the moving average is flat, i.e. horizontal on your chart it can become very choppy, this is a good time to not trade.
The general rule is that if the chart price is above the SMA the trend is up, if below the trend is down. This is very important to understand because it forms the basics of trend trading and trading with the trend.
For the short term trend many traders like using a 5-8 SMA or EMA, here is a trading secret, never trade again the direction of the short term tend, this is really just common sense when you think about it.
Moving averages can often act as support or resistance, many traders use the 15, 21 or 30 SMA for this purpose.
There are a number of other very important moving averages that you need to know about, these are the 50, 100 and 200 SMA, and this mainly applies to the daily and weekly charts. A lot of big players in the markets, like the the mutual funds, investment banks etc use the 50 and 200 SMA as support and resistance, if they decide to buy or sell based on these you need to follow suite, the 100 to a lesser extent. These are very useful averages to watch if you trade EFT’s like an Oil ETF.
A useful tip is that when a stock breaks through one moving average it will often move all the way to the next, for example, if a stock breaks the 30 SMA it may move to the 50 before finding some support or resistance.
A844534297
Ok…before we continue I want to clear one thing…
Why did we trade several live accounts of different sizes?
Well, thats quite simple! We didn’t just want to prove that the robot is a cash pumping software…no, thats not enough.
We actually wanted to prove something extremely important…
Our Forex robot can be traded with ANY account size….BIG or SMALL!
We wanted to show everyone that unlike many Forex robots out there, FAP Turbo is not restricted to account size.
Now…lets get to the most important part of all of this…to the reason why FAP Turbo is #1 and will be undefeated
for a VERY long time.
I want your full attention here…I mean it, this is KEY:
Understanding the following will show you why FAP Turbo is the real deal…why it’s a
golden opportunity for the smart ones…
Do you remember I told you at the beginning of the letter that back-test results are worthless? Well, THEY ARE!
So, why am I about to to show you back-test results of FAP Turbo?
Well…and this is the best lesson you will ever learn in Forex robot trading:
Back-test Results Are Worthless UNLESS You Can Validate Them With Live Forward Trading!
What does this mean?
Well, simple and to the point: if you back-test a robot and it shows 100% “demo” profit in one month, it should
PRODUCE around 80-100% profit in LIVE trading.
Thats it…mo more and no less!
So, how did FAP Turbo perform in back-testing? Well…
For those that are a bit “technical” let’s sum up the above:
- 9 Years Back-test
- 9,645 Total Trades
- 95.9% Winners
- 5,000% NET Profit
- 0.35% Drawdown!
Incredible results right? Yes, VERY impressive…
But whats MORE impressive is that the LIVE trading results are even BETTER than the back-test results!
In the back-test the robot averaged about 48% profit per month (5,000% divided by 102 months which is 9 years)…
In live trading, as you have already seen proof of, FAP Turbo has actually made at least DOUBLE that…on every
one of the 3 accounts!
The loop is closed…
The ONLY robot you will find that actually nails trade after trade in live trading TWICE as profitably as in the
9 years of back-testing!
It simple cant get better than this!
“Who Am I?”
You probably expected from me to introduce myself much earlier in the letter right? Well, thats what most “Forex Gurus” do…
But…for me it was more important to first show you proof of my bold claims BEFORE I introduce myself…
At the end of the day, who you are and what you are is based on
what you can prove…talk is cheap these days!
So…lets make it formal…
My name is Steve Carletti and I am a professional I.T. programmer and the head developer of the most accurate and
profitable Forex robot in todays market – FAP Turbo.
I suppose like many people out there, my dream as a young kid was always to make it big.
Well, I suppose most of us had that dream when we were kids right?
The questions is how many of us really fulfilled that dream!
In other words, how many people had the courage and dedication to go after what they wanted…
I am sorry for being so bold, but most people are pathetic. Why?
Because They Live In An “IF” World…
”Only If I would have done that”… ”Only If I took that opportunity”… ”Only If I had the courage”…
”Only if I took the time”… If If, If , If , If ,If…
Well, I was never an “IF” person and that is why I made it big…
That is why I am rich today and most people reading this letter are not. Again, my apologize for being so straight
forward but that is the reality of things and as you have already seen my world is a reality based world.
I can still remember in high school….while everyone else was busy playing and enjoying youth I was trying
to figure out a way to make money.
I tried every opportunity out there….I actually joined at least 7 MLM programs!
Of course they didn’t work…but you know what?
I Actually Attribute My Success In Life To Them And Any other Opportunity I Tried…
Strange right?
Well, not really! Trying things that didn’t work actually pushed me more and more to figure
out what does work…it gave me more enthusiasm and thrust to figure out a way to make BIG money.
But I learned another lesson as well….a very important one, and I want you to listen very closely here:
BIG Money Is Made NOT By Working Hard But By “Working” SMART!
I know…yes…this contradicts everything most people have been trained to think: “work hard and you will
reach your goals in life”.
Well…let me ask you this – how many people do you know that work all month long 12-14 hour days and barely bring
home a $3,000 paycheck?
I bet a lot!
Now, how many people do you know that bring:
without working at all…100% on autopilot…with absolutely NO human intervention?
I bet none!
Well, thats not accurate….you know me now 
So, bottom line…there is nothing wrong with working hard. My father actually worked more than 15 hours a day for
over 30 years and I respect that. He did everything he could do to support the family.
But the HUGE difference between my father and YOU and ME is that he didn’t have another option…
if he had a way to bring those paychecks home without working so hard I can GUARANTEE he would have left
his day job and enjoyed life as it should be enjoyed!
Yes…that was the response of EVERYONE around me after they saw the life I was leading…the life FAP Turbo gave me!
Who would have thought 10 years ago that one day this will be my life and of many others trading the FAP Turbo robot!
Today, I live the dream most people have…rake in tens of thousands of dollars while sleeping, playing,
vacationing, watching T.V. or doing anything I WANT…instead of everything dictated by a rigid
and boring day job.
It’s amazing how times change… and its amazing how one great discovery can change a whole life!
But people always wanted to know more….they wanted to know why it is possible to make so much money without
doing anything trading Forex…
Well, can’t blame them! Forex is not something you hear often….it actually sounds a bit scary when you hear
the term for the first time!
The advantages of trading Forex are obvious:
- Low Startup – You can start with as LOW as $50!
- Huge Market – $3 TRILLION traded around the world every day (Actually, the Forex market is bigger than ALL the worldstock, bonds, and futures markets combined!)
- 24/5 – Non stop action, 24 hours a day 5 days per week (Monday through Friday)
- Volatile – The most volatile market in the world…what does that mean? HUGE opportunity every moment of the day
- Low Cost – While with stock trading, futures and options you pay spread plus commission, with Forex your only“cost of trade” is spread (that can add up to ALOT!)
- No Cornering – Unlike any other markets, it is IMPOSSIBLE to corner the Forex market….and, no matter howmany people trade with the same robot its efficiency and profitability will remain intact (HUGE plus)!
- Up & Down – Profit from rising and falling prices…you don’t care which way the market goes. Ohhh…and,unlike with the US stock market, you don’t have to wait for an up-tick for shorting!
- No Size Limit – Trade as BIG or as SMALL as you want! This is something that ONLY the Forex market allows you.
You have to be blind not to see the incredible potential…and truth be told, my real success as a Forex trader
and robot designer only came after I completely understood the significance of these elements…
“I Knew That There Has To Be A Way To Cash In On This Incredible Opportunity – And BIG Time!”
I also knew that I would not be able to do it alone. At the end of the day, the idea of producing the best Forex
robot in existence is quite a big challenge!
You always have to know your strengths…my strengths are
organization, information technology, persistence, drive and ambition.
But…I was never good with complex numbers and with advanced programming!
What do you do when you have a great idea but not all the qualifications to make it a reality?
You work with THE BEST OF THE BEST in those specific fields you are not the best!
Mike and Ulrich are that “best of the best”!
I actually met both Mike and Ulrich while in university. Both were those typical “geeks” you would find
studying and coming up with new theories while most other people were partying!
We hit it off quite well and became very good friends ever since (although, I must admit they
do bore me at times with their complex theories and ideas!).
Anyway, Mike being a true genius with complex numbers and Ulrich being a small Einstein with open source
programing I immediately saw the potential – they were exactly what I needed to take my idea from only and
idea to a profitable cash pulling reality!
Both LOVED the idea of producing a “never seen before” Forex robot. I suppose it fits our personality – do something
traders, banks, fund managers etc. label as “impossible”!
And So The Biggest Forex Project Of This Century Started – The Wheels Were In Motion –
“FAP Turbo” Was About To Be Born…
We got a hold of every single Forex robot in the market…every single Forex strategy and method available…
every idea or piece of idea we could find…we read over 20 “strategy design” books between the 3 of us and
subscribed to every single Forex publication/service available.
Thats how serious we took project “FAP Turbo”…
You guessed right….99% of what we saw, tested and studied was CRAP! Well, obviously…if it wasn’t,
I suppose others would have already come up with a super-Forex robot right?
But…and this is a lesson I learned quite well from this project…even in “crap” information there is
value…you can actually understand why it is crap and come up with ideas to improve it!
But you know what was the most frustrating part?
Even The “Good” Forex Robots We Tested Worked Well ONLY In Backtests! Once We Live Traded Them We
Actually Lost Our Pants…
Yes…we lost a lot of money in the process of testing…but that was the only way to actually
know what works and what doesn’t.
It was the only way to understand why so many Forex robots were failing to deliver the goods in real LIVE trading.
Do you know that stage where you are ready to give up? Where everything seems a waste of time…nothing seems
to work….you can’t really see the “light at the end of the tunnel”?
Well…I must admit…we were quite close to it! But our work paid off once we stumbled into Marcus B Leary and
his Forex AutoPilot Robot (forexautopilot.com)…
I LOVE that feeling of relief….that deep breath that comes with “FINALLY!”….finally something that seems
to work and make sense!
Forexautopilot is an EA that is consistently being updated by it’s creator Marcus B. Leary who
himself is the pioneer of expert advisor programming.
We were quite impressed by his work as this robot seriously was able to rake in very nice gains – consistently.
However…
The trading risk is to big, especially for larger sums. The all or nothing formula is nothing for weak stomachs.
I called up their support and introduced myself and what I was doing with Mike and Ulrich…after a little back
and forth with the support staff I was able to FINALLY speak with the man himself.
We hit is off quite well! I wouldn’t say Marcus is the average “Geek” profile…but you can definitely
confuse him with that!
He is the type of person that will talk with inspiration and A LOT of knowledge. If you talk to
Marcus, you have to know what you are talking about! If not, he will get quite bored quite soon…
Anyway, we ended up talking for over 3 weeks…exchanging ideas…building a solid relationship.
All through our conversations I kept insisting that Mike, Ulrich and Me can actually take his Forex
robot and make it 10 times better (a bit bold, I know!).
It is safe to say that if it was another person I was talking to I would have been blown off…but not with Marcus!
That my friend… was Marcus’s reply to my constant bragging that we can improve his Forex robot beyond belief…
that we can “leave him in the dust” so to speak!
Take a tour of FXCM’s Forex Trading Platform. Learn some of the basic features of FXCM’s award winning Forex Trading Platform.
http://www.fxcm.com
* Please note that FXCM Micro, in its discretion, may or may not offset individual transactions unlike transactions in most FXCM Standard and Mini accounts. For additional information, click here.
** Without proper risk management, a high degree of leverage can lead to large losses as well as gains.
Duration : 0:8:10
The day started with a great USD trade and ended with a great CAD trade. A good day indeed. The market must have read the textbook! We waited and waited for confirmed currency correlation between the majors with a break of the 200 EMA across the board. Pivots and Fibs helped find the target. The CAD trade, based on the oil report, was a great 38.2% retracement to 161.8% extension for the CAD/JPY. The USD/CAD hit the S1 and stopped at the same time we were topping out on the other pair. Beautiful.
Duration : 0:16:33
