10 EASY STEPS TO A MORE PRODUCTIVE TRADING DAY

If you want to trade currencies then you need a currency trading system that will get the odds in your favour and here we will show the basics that make a successful one. Anyone can build one and incorporate it in their Forex trading strategy and it's easy to do - Let's look at the basics.

1. Identifying the Opportunity

The best way to identify an opportunity is to use support and resistance and good old trend lines. We won't explain support and resistance here - but if you are not familiar with it look it up on the net - Here we want you to keep in mind one key point:

When you trade be selective and only trade valid support and resistance.

What do we mean by valid?

- The more tests the better
- The more time frames involved the better
- The longer the duration between the time frame the better

The above are just general guidelines - you can use 2 tests but 3 tests or more, are better and look for resistance or support that is considered important by the market.

You then need to decide after spotting the opportunity on your forex charts when to trade.

2. Executing the Trading Signal

Never simply buy into support or sell into resistance with your currency trading system.

This wont work, as your predicting what may happen and as you can't predict the future ( despite what many guru's will tell you), you are simply hoping or guessing and the market will kill you.

You need confirmation.

If you don't know what momentum indicators are look them up - you need them and there an essential part of your forex education.

You only need a couple to confirm the move - more is not better as you need a simple system - more complicated ones have more elements to break.

The way to use them is to watch for a level to hold and when momentum shifts away from the level then you trade.

Don't just look for support or resistance to hold though - incorporate breakout methodology. It's a fact that most trends start form new market highs NOT Market lows. So, if prices breakout supported by momentum buy them!

Most traders can't do this they want to get back in on a pullback that never comes - don't make this mistake trade the breakouts like the pros do.

Finally be very selective and only trade the best set ups - in forex trading you don't get paid for how often you trade you get paid for being RIGHT.

Trade sparingly and only trade the big high odds trades.

3. Stops and Profits

Stops are easy and behind support and resistance. Place them as soon as your currency trading system gives a signal.

If you are long term trend following, keep your stop well back and give the market room to breathe, so you don't get stopped out by random volatility.

You are going to miss the turn but as you can't predict that anyway, that's fine.

Catch 50 - 60% of the big trends and you will become very rich.

Swing trading is another matter.

You're looking for smaller moves and they can disappear quickly, so use a profit target and take your profit early!

Don't worry about perfection of what you might have made - concentrate on making money - no one is perfect but that won't stop you enjoying currency trading success.

4. Managing Your Money

Forex trading is risky, that's why the rewards are so high. Many traders however try and restrict risk so much they create it.

They trade to often have stops to close and move them too quickly and end up losing.

Confront risk cheerfully!

Forget all the common wisdom about risking 2% per trade- if you're trading a $10,000 account that's 200! If you don't risk much you wont win.

If you have a high odds trade risk 20% and have the courage of your conviction.

If you take calculated risks at the right time you can enjoy currency trading success.

FINALLY REMEMBER THIS!

So there you have it the above is a simple system - support resistance and a few confirming indicators and the best systems are.

Keep in mind that forex trading is as much to do with mindset as method and you need to maintain discipline.

Simple currency trading systems are easier to understand, apply and have confidence in which leads to the discipline to follow your currency trading system to long term currency trading success.

Every single one of us at times allows procrastination, disorganization, and even lack of motivation to get the best of us. These things keep us from being productive individuals, making our workday and life that much more difficult. We sit back in awe of all the things we’ve allowed to build up, and wonder how in the world they’ll get done, or how to do them most effectively. Fortunately for us, being a more productive person is not a hard thing to do at all. Once you know how to get started in becoming more productive the rest will fall into place. Here I’ll list five great ways to help you in becoming a more efficient and productive person.

1. You may be surprised at how obvious the first step sounds, but let it fool you – it’s an important place to start! You have to first realize what it is you want to accomplish. What are your goals? Where do you want to be, and how long do you want it to take? It may be something small, such as cleaning out the garage, or could be bigger such as finding a better job and making more money. There aren’t any limitations here – just dig deep, and figure out what it is you want to achieve.

2. Now for the second step: write them down. This may sound like a waste of time, but it’s actually more important than you think. Generally, when it comes to productivity, most people lack in one of three areas. - They can’t see what needs to be done, they can’t keep track of all the things they have to get done so they tend to forget and get behind, or they procrastinate and lack the will to actually get anything done. We’ve already taken care of the first problem with step one – and now we’re going to handle the second. By writing your goals down, you help strengthen your commitment, and because you have a simple list you can easily access, there’s no reason to forget your plans and goals. Take a look at your list often.

3. We all know how easy it is to get distracted from our responsibilities, leading us to procrastinate. – Procrastination is a huge blow to productivity. It’s so common to start thinking up things we’d like to do rather than what we need to do, and unless we face severe consequences for putting something off, it’s a lot more pleasurable and easy to indulge in things we enjoy rather than work. So how do we keep from procrastinating? One of the biggest keys is to keep from overworking yourself. Put your best into your goals and projects, but make sure that you don’t push yourself too hard. Overworking yourself leads to making your work more and more dreaded, making the urge to procrastinate that much stronger. Set yourself up a schedule of work and play. Set aside points in your day meant for time off and things you enjoy. If you’re not missing out on all the things you like doing, you’ve got a lot less of a chance to procrastinate because of them.

4. Even after making all the lists and schedules for getting your goals completed, the key is to actually start working towards them. This of course requires self-discipline and a good amount of willpower on your part, and nothing in any article can do that for you. But I do have a good little piece of advice to help you get things started. I once heard an old Chinese proverb that said, “It does not matter how slow you move, so long as you do not stop.” This is a great quote, and very true. Just make sure to accomplish something each and every day, no matter how big or small. Getting in the habit of achieving things each and every day is the most effective and quickest way to accomplishing all of your goals and desires.

5. Finally, create reminders of why you are doing what you are doing. Everyone has a reason for their actions, and everyone has things that motivate them. If you want a big promotion at work, occasionally think about how nice a new sports car would be, or about how much better your job would be. Stay in touch with your motivations – they will keep you going even when you’ve lost all will to continue forward. A motivated person is a powerful person, and is capable of doing anything they set their minds to. Don’t forget the purpose behind your project, and you’ll find it much easier to accomplish.

There is not actually much distance between success and failure. Often, the only differences between the two lie within your attitude and your planning. Make your commitment and take it seriously, and make a schedule that you can live with which won’t cause you to become over-burdened. Make sure you keep your project moving forward, and never forget the reasons that you started in the first place. Keep all of these in mind, and you will be amazed at what great feats you can accomplish.

If you want to trade currencies then you need a currency trading system that will get the odds in your favour and here we will show the basics that make a successful one. Anyone can build one and incorporate it in their Forex trading strategy and it's easy to do - Let's look at the basics.

1. Identifying the Opportunity

The best way to identify an opportunity is to use support and resistance and good old trend lines. We won't explain support and resistance here - but if you are not familiar with it look it up on the net - Here we want you to keep in mind one key point:

When you trade be selective and only trade valid support and resistance.

What do we mean by valid?

- The more tests the better
- The more time frames involved the better
- The longer the duration between the time frame the better

The above are just general guidelines - you can use 2 tests but 3 tests or more, are better and look for resistance or support that is considered important by the market.

You then need to decide after spotting the opportunity on your forex charts when to trade.

2. Executing the Trading Signal

Never simply buy into support or sell into resistance with your currency trading system.

This wont work, as your predicting what may happen and as you can't predict the future ( despite what many guru's will tell you), you are simply hoping or guessing and the market will kill you.

You need confirmation.

If you don't know what momentum indicators are look them up - you need them and there an essential part of your forex education.

You only need a couple to confirm the move - more is not better as you need a simple system - more complicated ones have more elements to break.

The way to use them is to watch for a level to hold and when momentum shifts away from the level then you trade.

Don't just look for support or resistance to hold though - incorporate breakout methodology. It's a fact that most trends start form new market highs NOT Market lows. So, if prices breakout supported by momentum buy them!

Most traders can't do this they want to get back in on a pullback that never comes - don't make this mistake trade the breakouts like the pros do.

Finally be very selective and only trade the best set ups - in forex trading you don't get paid for how often you trade you get paid for being RIGHT.

Trade sparingly and only trade the big high odds trades.

3. Stops and Profits

Stops are easy and behind support and resistance. Place them as soon as your currency trading system gives a signal.

If you are long term trend following, keep your stop well back and give the market room to breathe, so you don't get stopped out by random volatility.

You are going to miss the turn but as you can't predict that anyway, that's fine.

Catch 50 - 60% of the big trends and you will become very rich.

Swing trading is another matter.

You're looking for smaller moves and they can disappear quickly, so use a profit target and take your profit early!

Don't worry about perfection of what you might have made - concentrate on making money - no one is perfect but that won't stop you enjoying currency trading success.

4. Managing Your Money

Forex trading is risky, that's why the rewards are so high. Many traders however try and restrict risk so much they create it.

They trade to often have stops to close and move them too quickly and end up losing.

Confront risk cheerfully!

Forget all the common wisdom about risking 2% per trade- if you're trading a $10,000 account that's 200! If you don't risk much you wont win.

If you have a high odds trade risk 20% and have the courage of your conviction.

If you take calculated risks at the right time you can enjoy currency trading success.

FINALLY REMEMBER THIS!

So there you have it the above is a simple system - support resistance and a few confirming indicators and the best systems are.

Keep in mind that forex trading is as much to do with mindset as method and you need to maintain discipline.

Simple currency trading systems are easier to understand, apply and have confidence in which leads to the discipline to follow your currency trading system to long term currency trading success.

So you are a great network marketer. You are blazing through all previous records set in sales and downline numbers recruited. You are an MLM Superstar! But all those people in your downline seem to be falling stars. They started off as brilliant bright beacons in the night sky and then fizzled out into nothing before they even hit the ground. If you have been around network marketing for any amount of time you will have already heard that 97% of people that get involved with an MLM will fail. That is a huge percentage. One of the major reasons will be lack of proper support from their upline sponsors.

So how do you get your downline producing? By using duplication and automation.

If you are successful at what you are doing, make sure you are sharing it. Unlike other kinds of businesses, multi level marketing is based on telling others how you succeeded so that they can do the same thing. This is no time to be hoarding your secrets on how you generate your leads, how you advertise your products or how you close your sales. I'm sure you have heard it before, it is called duplication. I am going to say it again. Duplication. So I know you have heard it, but are you applying it to your business? You need to make it as easy as possible for the people in your downline to do exactly as you have done to become successful.

One of the best ways to make your successful network marketing business easy to duplicate is to take advantage of today's technology. If you are using a web site to promote your business opportunity and/or products and it is doing well for you, make sure your downline also has access to that website. This can be done in a number of ways. You can use either a reference ID attached for each user that will properly identify that it is their page or a different domain name pulling the same content. If you want to avoid possible duplicate content penalties laid down by search engines, make a template available to your downline to make it easy for them to put in some of their own content but still have a professional and proven site.

Another technology that can be helpful in duplication and ensuring your downline's, and therefore your own, success is a turnkey phone system for taking sales calls, placing orders and presenting a professional image. We are all too familiar with the image that many multi level marketing businesses have. There are those of us that see network marketing for what it is - a way to leverage our time, money and efforts to earn a residual income far beyond anything we could earn at a 9 to 5 job. However, there are also those people that have heard negative things or have had an unpleasant past experience with network marketing. It is important that you make sure that your downline has their best foot forward at all times. This is where a professional website combined with a turnkey phone system will come in.

With a turnkey phone system, such as those offered by virtual PBX companies, you can create professional outgoing messages to greet callers, have recordings about products, services, and any business opportunity available 24/7, load fax documents with helpful literature to be requested by callers and sent automatically by your virtual PBX, have voicemail delivered to email so messages are responded to in a timely matter, have your calls forwarded to you at any location you wish, and more. And you can do all of this and then have all of your downline get the exact same virtual PBX with the exact same professional recordings and fax documents. Don't leave it up to your downline to present the professional image that is required to instill the confidence that is needed for customers and other potential prospects to do business with them. Do it for them with a turnkey website and phone system.

All of these things boil down to one thing, support. You must support your downline. I know, I know. You are probably saying, "But I don't have time to hold the hands of 10-20 people and then have 97% of them fail anyways." Now here is what you need to consider. One, their success directly affects your success. And two, with the tips that I have given you already, you will increase the chances that they will become one of the 3% that will succeed. And after you have considered that, apply these next 2 concepts to your business.

Use automation to leverage your time. You do this with your website and your turnkey phone system but there are other ways as well. Automate your support by using auto responders that send out emails to your downline on a timed schedule. (Also great for marketing.) Include motivational emails, helpful tips and ideas, updates, whatever applies to your particular business. Also, take advantage of another cool feature of turnkey virtual PBX systems; the ability to record one message and send it to any number of phone numbers or email addresses. Make sure your virtual PBX provider has a feature for voice broadcasting. This is a great way to give a personal touch to updates and motivational messages that will get more attention than a standard email. It will also save you from having to make 20 calls to each person in your downline.

Next, don't bite off more than you can chew. You are right. You probably can't hold the hands of 20 people. Find out how many hands you can hold and give them all the support you can. Maybe you feel you can only really support 3 to 5 people. Take those 5 people and give them the best support you can. That will include making sure that your system is duplicatable right down to your phone system, that you have automated as much of your support and business as possible, and that you give them personal one on one attention as well. A personal phone call, a pep talk, advice and possibly even giving them a lead now and then will make a world of difference. I think you will find that by using duplication and automation to leverage your time, you will be able to hold more hands than you think.

Forex swing trading aims to take profits from movements within the major trends and the good news is - it's easy to learn, easy to apply, fun and can be very profitable and perfect for novice traders.

Here we are going to show you how to swing trade successfully in 3 simple steps.

Swing trading by its very nature is easier than long term trend following and is perfect for the novice trader.

For the impatient trader you get a lot of trades and you get to know whether your right or wrong quickly, so it’s a lot easier to stay disciplined.

Its fast and its fun, so lets look at how to make profits forex swing trading.

Step 1 – Spot Support and Resistance

You need to use good old trend lines and see areas of support or resistance to trade into and look for at least 3 tests.

Now you have spotted the opportunity, you need to time your entry and correct timing is crucial!

Step 2 - Trade With Price Momentum

Many traders simply like to go short into resistance or long into support as its tested but this is a huge mistake!

You are guessing or relying on hope and the market will not reward you for this – it will kill your equity and wipe you out.

You need to get the odds in your favour and trade with confirmation of price momentum on your side.

You need to wait for a test and then see the market to turn away from support or resistance and THEN trade.

You are trading with price momentum and this will ensure the odds are in your favour.

What indicators should you use?

Try these two: The stochastic and the RSI When you get both in synch and then execute your trading signal.

We don’t have enough time to explain them in detail here – simply check our other articles.

Once you are in the trend and its moving, its time to look to take profits.

3. Step 3 Take Profits To Soon

In forex swing trading your profits can disappear quickly, so take your profits early.

This is BEFORE they test the next level of support and resistance - this will enable you to bank a profit in quickly, before the odds turn against you.

Sure, the trade could run on a bit, but chances are if it comes back quickly you will soon be in a loss - so keep the odds on your side by banking early.

Other points

When swing trading place your stop as soon as you enter your trade on stop close basis behind support or resistance and only trade liquid currencies such as:

Euro, British Pound, Japanese Yen, Swiss Franc and Canadian dollar - don’t try it in minor currencies.

A Simple Way To Make Big Profits!

You can use other tools to trade but we have found that trend lines combined with stochastics and the Relative Strength Index, are all you need to have a simple, robust trading method that’s:

Fun, can give plenty of action, put the odds in your favour and make big profits longer term.