How to make money trading Forex while being lazy

An obese guy sprawled out on a couch, in old worn out pajamas, a drooling mouth, a fat bag of cheese pops, a stash of expired super hero comics, a can of soda, zero ambition and minus one achievement, is the very first picture a common mind associates with the word ‘lazy’. But what if I tell you to shift the image of lazy from this stereotype to that of a successful sharp suited prototype? Hard to imagine, right? But let me tell you folks, that depending on what exactly you are being lazy for, this my friends is not a probability, but a very much occurring reality. My personal observation, over the years has taught me that a no-stress approach tends to prove best by making more money in trading and investing, in comparison to serious over-thinking and a workaholic approach.

Making a decision and letting the circumstances determine the outcome of the market, without constant vigilance is what some might call ‘lazy’ but in fact, this in my opinion is what makes a trader ‘smart’. Keeping a 24/7 watch on the market might seem to be the right thing but this really achieves you nothing except for perhaps suddenly causing you to doubt your own position and closing it before it even gets moving or jumping altogether to a new position etc.

What you really need to do is just be “lazy” about your trades, sit back and give them a fair time to play out. By trusting your ‘once for all’ made decision, you will not end up witnessing each and every up and down of the intraday session, allowing yourself to be tempted in meddling with your decided position. This approach leads to a higher overall accomplishment and risk reward return, in the longer run.

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What Drives the Price of Gold?

Gold holds a paramount importance since ancient times and the proportion of gold a family possessed was the measure of their wealth. Today, things haven’t changed much. Gold is being used in a lot of industrial processes such as metallurgy and electroplating. As of March 2011, the price of gold reached a record high of 1420 dollars and there were some factors which caused this rapid ascension. These are as follows:

Gold Mining

The major players who extract the most gold are India, China and Australia. The world’s gold production has a causal effect with the prices of gold. All around the globe, gold mining increased by a staggering three percent since 2010 which is an enormous value. Moreover, the predicaments associated with mining gold have also increased. The gold which was easy to extract has already diminished and the environmental factors which may be hazardous for miners are much more than they were before. They have to dig deeper in order to find some valuable reserves of gold. All this comes at a high cost and therefore, as the expenditures related to gold mining increase, so does the market worth of gold.

Central Reserves for Gold

The central Banks are responsible for the hoarding of gold and other currencies. They have built reserves for this purpose. It was discovered that central banks have been hoarding more gold than they were actually selling by the World gold council. The banks are also bringing about a revolution by encouraging a paper free culture which is also a really big problem. This is one of the main reasons because of which the gold prices have soared.

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Hedging in the Forex market

The liquidity of the forex trading market is increasing day by day which means that much more money and statistics are in play every passing hour. This onset of complexities and the associated risks demand a more defined tactical approach. Those of you who are already familiar with the horse racing term 'hedging' must know that although hedging secures your position in the bet, it still involves a substantial risk factor. But better to stay on the safer side of the track right? So to provide the traders with a similar semi-immunity gear, 'hedging' is also commissioned in trading.

What is hedging?

A 'hedge' is something that everyone from naive traders to the experts should know about.  It is a technique that can protect your investments to a suitable extent. Here it should be made clear that getting into a hedge does not mean that when a negative event occurs or the results go down the hill you will come out of it completely ruined. It only means that if you properly hedge yourself, you won't have to undergo a massive financial trauma. It can be taken as auto insurance which is able to compensate some loss after a tragedy but it does not prevent the tragedy from happening. So think of it as a semi-protection shield. Anyone who is involved in trading can and should learn the hugely practiced technique to hedge properly.

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Learning Currency Trading – Part 8: EUR/GBP

The symbol EUR/GBP stands for Euro/British Pound. It tells us about the number of British Pounds required to purchase one Euro. In the symbol, EUR is the base currency while the GBP is the counter currency.

General Facts and Importance

Various websites and forex analysts have concluded that the most important and the most voluminous exchange rate in the United Kingdom is the rate of exchange of EUR to GBP. While EUR is the world’s second largest trading currency, GBP happens to be the fourth. The currency pair is of immense importance when the proximity of the location and nature of trade between the UK and the Euro zone is taken into account.

More goods, as compared to services, are exchanged between the UK and EU. Almost half of UK’s exports are directed to and imports are directed from the different members of the EU.

The EU market is one of the world’s largest markets. Moreover, most of the members of the EU are rich nations that enjoy rather stable political atmosphere that ensures a safer and stronger currency. Unlike the UK where debates over joining or not joining the EU lead to conditions that ultimately favour the Euro and depreciates the pound. With its 28 members, the EU has made sure that it happens to be the origin and the termination point for a great many trades, consequently supporting the already strong position of the Euro.

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Famous Quotes from Professional Traders

Trading is all about possibilities and sometimes you'll win, sometimes you'll lose or sometimes you'll be losing for so long that you get frustrated. People assume that a trader's life is full of pros but ask a real trader and they'll probably laugh at that assessment. In reality, sometimes they just want to quit because of it but rest assured, after this article, quitting will be the last thing on your mind. Take it from the people who've been doing it for years and got big:

1. “In this business if you’re good, you’re right six times out of ten. You’re never going to be right nine times out of ten.” -Peter Lynch

The possibility of a good trade or a bad one can not be forseen and instead of getting emotional about just think of it as part of the game.

2. What seems too high and risky to the majority generally goes higher and what seems low and cheap generally goes lower.” -William O’Neil

The message here is to understand the dynamics. Some of them might seem appealing but are actually not or viceversa.

3. “It takes 20 years to build a reputation and 5 minutes to ruin it. If you think about that, you’ll do things differently.” – Warren Buffett

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Live Vs. Demo Trading Accounts

There are numerous forex trading platforms that allow you trading through them and in order to start trading you have to create an account. Now there are different types of accounts that can be categorized as live and demo accounts. Demo accounts are basically for beginners to learn about trading without risking any money.

Now obviously it is good to practice one’s trading strategy with a demo account but the problem is that people stay on their demo accounts too long. A time comes when the trader has mastered the screen time and has all the relevant knowledge but when he/she starts trading with a real account, they start to lose their money.

It is good to know all the ins and outs of trading, understanding the market and charts and other relevant knowledge about trading before entering the real trading world. But if you don’t jump in and get your feet wet, you’re never going to develop the skills to succeed in the market. They are good to educate you but they are only simulations, not the real thing. Also, you are never going to get those ‘perfect’ scenarios in the real world, for example, order fills, stop out levels, prices and etc. are different in demo accounts. The reason why traders do much better on demo accounts is because there is no risk involved and no emotions clouding their judgment either.

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The Forex Industry – Uncut Version

This article might possibly shock you and make you question everything you've ever been told personally by a 'professional' trader, as well as potentially offend many (if not all) of the experienced forex traders. The purpose of this article is to 'expose' everyone in your life who's told you everything against this article.

I'm pretty sure that what initially inspired many people to pursue trading was all the hype that the media created regarding the simplicity and luxury that comes with being in this industry. Traders you personally know might have showed-off their new car or huge house in an attempt to 'encourage' you to begin trading. The truth is that all of that was a lie.

Now don't get me wrong, gradually you can have that new car or extravagant lifestyle but what everyone fails to mention is that it doesn't just present itself to you in a hand basket. You need to work for years on end and one good trade won't do you any favours if you don't know what you're doing.

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