Know what is forex trading

Know what is forex tradingForex Trading Strategy using Market Profile

Forex Trading Strategy using Market Profile

Upcoming webinar httpurbanforex/events/rsi-redefined-as-real-simple-implicator September 18th, 2013

The market messages of Confirmed Highs and Lows. NonConfirmations and their Implications for closing Longs, Shorts and Reversals.

Join the discussion on this strategy and see more examples. urbanforex/group/forex-mar

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Forex trading archive

Forex trading archiveSynergy Pro Trader V2

Posted on November 30, 2012 Posted in: Forex Trading

Name Product: SynergyProTrader V2 | SYNERGY PRO Method | Advanced Algorithmic Trading, Real-time Alerts

Synergy Pro™ is the next generation of the Synergy trading method.

Synergy Pro™ is a newly crafted Synergy design with redefined performance objectives, yet keeping the original principle of combining market forces of Price Action and Market Sentiment to produce higher probability trades.

Forex Magic Formula

Name Product: Forex Magic Formula

Dear Frustrated Trader,

For far too long, you’ve been lied to… Led down the wrong path. Taken for a fool by… Marketers masquerading as forex “dons”.

They told you all you needed was a “robot”. An ebook. A video. To unlock the floodgates to forex riches.

Well, how’s that working out for you?

Are you rich yet? Are you spending money like there’s no tomorrow? LISTEN: the trickery stops…RIGHT HERE…TODAY.

You must be an active subscriber to view this premium content. Subscribe or Login .

Super user training

Super user trainingSuper User Training

Super user training does not only cover their technical skills. Also skills within communication, and training the colleagues needs to be improved to ensure the superusers can generate the employee engagement, which is so critical for fast and strong adoption rates for new skills and technologies in the organisation.

Skills Creator has redefined the classic super user concept to encompass not only technical knowledge around a particular product or task, but also knowledge of how to best share what they know and communicate the underlying reasons why others should learn it. Our trained super users are empowered to manage work tasks with the new technologies and skills that they must teach. However, Skills Creator’s special training package also teaches super users how to handle the communication and change management challenges created by the introduction of new technologies and how they can use pedagogical methods in their employee engagement and training.

Super users are your go-to guys

Super users are usually the first and most obvious choice to help roll out new technologies across an organization. The traditional super user role focuses mostly on having superior technical skills, but the role would benefit greatly by developing the super user to better understand employee engagement and how they support the daily workflow in your company. The more a super user knows about how to communicate and share their knowledge, the better they can advocate for effective change.

Educational tools for employee engagement

Our training needs analysis has shown that super users often lack insight into fundamental training techniques which, in turn, inhibits their ability to drive adoption rates for new skills and technologies. They also need to learn how to correctly use training media in either a classroom or one-on-one setting. Educational training for super users helps them understand how colleagues can take advantage of the new technology to maximize the benefit to their daily work. This is key to employee engagement and realizing organizational productivity improvements.

Change management skills

In addition to the actual training, the super user plays an important role in the organizational change management process. Skills Creator can prepare your employees for the challenges they will face when they need to help drive change management in your organization.

Scalping trading

Scalping tradingscalping trading

Watch This Video Prove Before Continue

Trading is a huge highly lucrative profession with many financial professionals day trading strategies and other people wanting to manufacture a foray into this highly profitable way to obtain earning. Technologies have redefined the way in which you do any type of activity, and it really is added the excess fillip to Forex trading too. One finds a smart automated strategy for trading and that is referred to as a Forex Robot while in the financial industry. It is deemed an automated trading application is designed to function as a strategy that is certainly mechanical, requiring no human interface while its about doing what traders do. We will understand various features of implementing FX Robots and how you can help someone become an ace trader.

Volume - Trading begets higher returns in the event the sheer volume is increased. The automated set up helps generate more trades with an average than an individual being. Essentially the most good ways to actually generate higher volumes across a massive arena and geographies in real time ends up with the scope of better trades and better earning potential.

Doesnt cave in to sentiments - Its really a machine, a program it doesnt experience most significant barriers to successful trading-getting swayed by sentiments and emotions. This is a thing all human beings are given to getting plagued by, resulting in a negative trade or a large reduction in the markets. The unit will never be affected or be put into an anxiety mode just because of the huge slide inside market. It can keep functioning rationally, doing it more stability than the human element.

Making the most - This automated programme can run 24/7, 365 days annually without tiring. So, unlike a persons element, it need not take some time off for anything. This feature demonstrates it can trade across all markets inside a go through sun model route. It can trade while you fall asleep, using every opportunity that is going there. This works well for spreading the potential risks evenly and results in a more balanced way of trading overall.

Has immense potential - If an investor is strong on his fundamentals, hell program the computer to perform well and earn him much over the projected potential. Once an intelligent trader who studies the signals emitted by way of the robot system, and leverages them by developing them another earning avenue, likely to incremental income opportunity generated consistently.

Related Videos to Scalping Trading

dowscalper/ Learn more about our trading method at the scalping website above.

Automated stock trading

Automated stock tradingautomated stock trading

automated stock trading

Watch This Video Prove Before Continue

Trading is a highly lucrative profession many different financial professionals day trading strategies and people wanting to create a foray into this highly profitable source of earning. Technologies have redefined exactly how you do just about any activity, and it really is added the additional fillip to Forex trading too. One discovers a clever automated way of trading which can be termed as a Forex Robot inside financial industry. Now you have an automated trading software is designed to be a strategy that is mechanical, requiring no human interface while its about doing what traders do. Lets understand various benefits of implementing FX Robots and how they may help someone become an ace trader.

Volume - Trading begets higher returns in case the sheer volume is increased. The automated set up helps generate more trades with an average than a personalitys being. Essentially the most effective ways to actually generate higher volumes across a vast arena and geographies instantly brings about the scope of better trades and earning potential.

Isnt going to resign yourself to sentiments - This can be a machine, a software application that will not are afflicted with one of the largest barriers to successful trading-getting swayed by sentiments and emotions. This is one area all individuals are inclined to getting afflicted with, producing a negative trade or a large decrease of the markets. The device wont be affected or enter an anxiety mode just because of the huge slide while in the market. It will help keep functioning rationally, giving it more stability than a persons element.

Making the most - This automated programme can run 24/7, 365 days a year without tiring. So, unlike the human beings element, it need not take time off for anything. This feature implies that the system can trade across all markets in the continue with the sun model route. It can trade while you sleep, working with every opportunity that fades there. This can be useful for spreading the potential health risks evenly and results in a more balanced method of trading overall.

Has immense potential - If an investor is strong on his fundamentals, he could program the unit to do well and earn him much greater than the projected potential. Once a good trader who studies the signals emitted from the robot system, and leverages them by developing them another earning avenue, theres an incremental income opportunity generated consistently.

Related Videos to Automated Stock Trading

The ONLY Fully Automated Stock Trading Software that requires no programming skills 100% point and click. No programming required. No live brokerage

Kathy lien

Kathy lienkathy lien

Watch This Video Prove Before Continue

Trading is a huge highly lucrative profession with many financial professionals day trading strategies and others wanting to create a foray into this highly profitable method of obtaining earning. Technologies have redefined just how you do any sort of activity, and its added any additional fillip to Forex trading too. One discovers an intelligent automated technique for trading which is known as a Forex Robot while in the financial industry. It is deemed an automated trading applications are programmed to be a strategy that is certainly mechanical, requiring no human interface while its going about doing what traders do. Allow us to understand different aspects of implementing FX Robots and how they can help someone become an ace trader.

Volume - Trading begets higher returns when the sheer volume is increased. The automated create helps generate more trades by using an average than a personalitys being. Probably the most great ways to actually generate higher volumes across a vast arena and geographies instantly ends up with the scope of better trades and better earning potential.

Doesnt yield to sentiments - It is just a machine, a software program it doesnt suffer from one of the biggest barriers to successful trading-getting swayed by sentiments and emotions. This is one thing all mankind are susceptible to getting afflicted with, creating a negative trade or an important decrease in the markets. The device will never be affected or use an anxiety mode just as a result of huge slide in the market. It can keep functioning rationally, passing on more stability than the human element.

Making the most - This automated programme can run 24/7, 365 days each year without tiring. So, unlike a persons element, it does not have to take some time off for anything. This feature implies that the device can trade across all markets inside a keep to the sun model route. It will eventually trade while you are sleeping, utilizing every opportunity that is out with friends there. This assists with spreading the potential health risks evenly and results in a more balanced technique for trading overall.

Has immense potential - If a trader is strong on his fundamentals, hell program the computer to work and earn him much a lot more than the projected potential. Once a smart trader who studies the signals emitted with the robot system, and leverages them by causing them another earning avenue, it comes with an incremental income opportunity generated consistently.

Related Videos to Kathy Lien

Join the discussion on InformedTrades: informedtrades/551786-kathy-lien-her-view-forex-market-her-approach-trading. html#post608362

Video trading

Video tradingvideo trading

Watch This Video Prove Before Continue

Trading is a highly lucrative profession with numerous financial professionals day trading strategies and other people wanting to create a foray into this highly profitable source of earning. Technologies have redefined the way in which you do any type of activity, and this has added the extra fillip to Forex trading too. One discovers a brilliant automated way of trading which happens to be known as a Forex Robot within the financial industry. It is deemed an automated trading software program is programmed to be a strategy that may be mechanical, requiring no human interface while its about doing what traders do. Allow us to understand different aspects of implementing FX Robots and how they can help someone become an ace trader.

Volume - Trading begets higher returns should the sheer volume is increased. The automated put in place helps generate more trades by using an average than a human being. The single most great ways to actually generate higher volumes across a huge arena and geographies live ends in the scope of better trades and higher earning potential.

Doesnt resign yourself to sentiments - Its really a machine, a application it doesnt have problems with most significant barriers to successful trading-getting swayed by sentiments and emotions. This is something all human beings are susceptible to getting affected by, becoming a negative trade or a tremendous decrease in the markets. The machine is definately not affected or go ahead a panic mode just with the huge slide inside market. It will help keep functioning rationally, passing it more stability than a persons element.

Making the most - This automated programme can run 24/7, 365 days 12 months without tiring. So, unlike a persons element, it doesnt have to take time off for anything. This feature demonstrates it can trade across all markets within a go through sun model route. It is going to trade while you are sleeping, employing every opportunity that is out with friends there. This assists in spreading the potential risks evenly and creates a more balanced strategy for trading overall.

Has immense potential - If a dealer is strong on his fundamentals, he can program the device to succeed and earn him much above the projected potential. Once a smart trader who studies the signals emitted by the robot system, and leverages them by designing them another earning avenue, likely to incremental income opportunity generated consistently.

Related Videos to Video Trading

mcx gold, silver, copper, nickel, crude, natural gas, zinc, lead, mentha, chana, soyabean, nifty, future & option, call put, technical analysis, currency trading & useful in

What is blue ocean strategy

What is blue ocean strategyWhat is Blue Ocean Strategy?

Businesses should focus less on their competitors and more on alternatives.

They also should focus less on their customers, and more on non-customers, or potential new customers.

Related How-Tos

Adapted from The Wall Street Journal Guide to Management by Alan Murray, published by Harper Business.

The rapid pace of innovation and change in recent years has led scholars and executives to search for an approach to strategy that is more dynamic than Harvard Professor Michael Porter’s classic “five forces.” One of the most successful efforts to do so is the book “Blue Ocean Strategy,” by W. Chan Kim and Renee Mauborgne.

While avoiding use of Mr. Porter’s name, Mr. Kim and Ms. Mauborgne nevertheless attack him head on, arguing that the “five forces” analysis is a formula for remaining in “red oceans,” where the sharks compete mercilessly for the action. The key to exceptional business success, they say, is to redefine the terms of competition and move into the “blue ocean,” where you have the water to yourself. The goal of these strategies is not to beat the competition, but to make the competition irrelevant.

Among the examples they cite is Cirque du Soleil, the Canadian company that redefined the dynamics of a declining circus industry in the 1980s. Under conventional strategy analysis, the circus industry was a loser. Star performers had “supplier power” over the company. Alternative forms of entertainment, from sporting events to home entertainment systems, were relatively inexpensive and on the rise. Moreover, animal rights groups were putting increased pressure on circuses for their treatment of animals.

Cirque du Soleil eliminated the animals and reduced the importance of individual stars. It created a new form of entertainment that combined dance, music and athletic skill to appeal to an upscale adult audience that had abandoned the traditional circus.

Instead of “five forces”, Mr. Kim and Ms. Mauborgne talk about “four actions” that can help you create a blue ocean strategy. The actions are found by answering these questions:

Which of the factors that the industry takes for granted should be eliminated? In the case of Cirque du Soleil that included animals, star performers, and the three separate rings.

Which factors should be reduced well below the industry’s standard? Cirque du Soleil reduced much of the thrill and danger associated with conventional circuses.

Which factors should be raised well above the industry’s standard? Cirque du Soleil increased the uniqueness of the venue by developing its own tents, rather than performing within the confines of existing venues.

Which factors should be created that the industry has never offered? Cirque du Soleil introduced dramatic themes, artistic music and dance, and a more upscale, refined environment.

Mr. Kim and Ms. Mauborgne argue that businesses should focus less on their competitors and more on alternatives; they also should focus less on their customers, and more on non-customers, or potential new customers.

Related WSJ Articles and Blog Posts:

Evaluating training programs kirkpatrick s4levels

Evaluating training programs kirkpatrick s4levelsEvaluating Training Programs: Kirkpatrick's 4 Levels

The most widely used and popular model for the evaluation of training programs is known as The Four Levels of Learning Evaluation. The model was defined in 1959 by Donald L. Kirkpatrick in a series of articles that appeared in the US Training and Development Journal. Kirkpatrick redefined the evaluation model with his 1998 book Evaluating Training Programs: The Four Levels.

The idea behind the model is for an organization to have meaningful evaluation of learning in the organization. The degree of difficulty increases as you move through the levels. However, the knowledge learned regarding the effectiveness of the training program more than compensates for this.

The four levels of the model are:

Level 1: Reaction

Level 2: Learning

Level 3: Behavior

Level 4: Results

Level 1: Reaction

Kirkpatrick refers to Level 1 as a measure of customer satisfaction. Most of the forms that people fill out at the end of a class or workshop are instruments for measuring Level 1. Here are 8 guidelines that Kirkpatrick recommends to get maximum benefit from reaction sheets:

1. Determine what you want to find out

2. Design a form that will quantify reactions

3. Encourage written comments and suggestions

4. Get a 100 percent immediate response

5. Get honest responses

6. Develop acceptable standards

7. Measure reactions against standards and take the appropriate action

8. Communicate reactions as appropriate.

Level 2: Learning

Kirkpatrick defines learning as the extent to which participants change attitudes, increase knowledge, and/or increase skill as a result of attending a program. So to measure learning we need to determine the following:

What knowledge was learned

What skills were developed or improved

What attitudes were changed

Here are guidelines for evaluating learning:

1. Use a control group if it is practical

2. Evaluate knowledge, skills, and/or attitudes both before and after the program. Use a paper and pencil test to measure knowledge and attitudes and use a performance test to measure skills.

3. Get a 100 percent response

4. Use the results of the evaluation to take appropriate action.

Level 3: Behavior

Level three can be defined as the extent to which a change in behavior has occurred because someone attended a training program. In order for change in behavior to occur, four conditions are necessary:

The person must have a desire to change

The person must know what to do and how to do it

The person must work in the right climate

The person must be rewarded for changing

Here are some guidelines for evaluating behavior:

1. Use a control group if that is practical

2. Allow time for a change in behavior to take place

3. Evaluate both before and after the program if that is practical

4. Survey and/or interview one or more of the following: trainees, their immediate supervisors, their subordinates and others who often observe their behavior.

5. Get a 100 percent response

6. Repeat the evaluation at appropriate times

7. Consider cost versus benefits

Level 4: Results

This involves measuring the final results that occurred because a person attended a training session. This can include increased production, improved work quality, reduced turnover, etc.

Level four can be difficult because you must determine what final results occurred because of attendance and participation in a training program.

You must also evaluate the conditions that the trainee is operating in. It is important to determine whether the conditions set forth above in Level 3 have been met. If there are conditions in the office that prevent the trainee from using the knowledge that they have learned, than the training can not be faulted for not doing the job. The problem lies in the conditions that the employee is working in. How many times have you heard, Oh, forget what you learned in training, that's not how we do it in this office. This is a clear example a a conditional problem with the operating environment.

Here are some guidelines for evaluating results:

1. Use a control group if it is practical

2. Allow time for results to be achieved

3. Measure both before and after the program if it is practical

4. Repeat the measurement at appropriate times

5. Consider cost versus benefit

6. Be satisfied with evidence if proof is not possible

This is a basic introduction to Kirkpatrick's Four Levels of Training Evaluation. More information is available through:

Kirkpatrick's 1998 book Evaluating Training Programs: The Four Levels.

Chapter 9, Evaluating Training Programs: The Four Levels in the ASTD Handbook of Training Design and Delivery

There are also a number of websites that offer information on the four levels.

Trading strategies that work

Trading strategies that workTrading Strategies That Work

Should You Get Advice From An Expert When Trading Forex? (E-Zine)

Even though there are a lot of opportunities in the forex market, making money is not as easy as most people are led to believe. It is takes more than just having enough money to be able to make it in this business. It is therefore important to seek advice from experts who will help you learn everything there is to know about forex trading. The experts will educate you on the forex trading strategies which will help you maximize your profits and also remain in the money market. Without the right trading strategies, your work in the forex market will be a waste of time since you will not be able to achieve success. Instead, you may end up losing a lot of money.

Questions and Answers

Never use market orders on the open.

Know the range within the time horizon you are trading.

Day trade the ranges and swing trade the trends.

Trading strategies that work

Friday, 22 July, 2011 10:36 am

I was talking to an old friend last week, who’s an extremely successful trader.

He was teasing me about my reliance on technical analysis. It’s a trading style that he has little time for – “witchcraft” he calls it!

So, what does he rely on?

He’s a bit of a mathematician at heart, and his trading is strongly based on statistics and probabilities.

And his style of trading works because he has an uncanny nose for sniffing out an “edge” …

The holy grail of trading strategies that work

Finding an “edge” is what trading is all about – it’s the difference between success and failure.

Whether you get that “edge” from an understanding of fundamentals … from technical analysis … or from a firm grasp of statistics and probabilities … it doesn’t matter.

Once you’ve got an edge, all you need to do is apply it again and again – and you’ll make money.

It needn’t be a substantial edge – just enough to get you ahead of the market and keep the odds in your favour.

And the beauty of an edge is that if you’re creaming a small profit from the market regularly, you’re likely to make considerably more money long-term than someone who’s pocketed one big win. (Euromillions winners excluded!)

So, how do we find that edge?

The most common ways in which traders find that edge are through:

Fundamental analysis: the study of external factors affecting supply and demand in the market. These are factors like economic events, trade prospects, political influences, government policies – even the weather.

Or technical analysis: the study of market prices themselves, assuming that market information is reflected in price, and that past price behaviour can give us clues about future price behaviour. In essence – it’s looking for patterns of behaviour, normally using charts and technical indicators.

Being more of a technical man – here are two ways I use to find that edge …

1. Trend following

The favourite way for traders to get an edge is by following a trend.

It’s simple – if the market is moving up, and you look for buying opportunities, you’ve naturally increased your chances of winning.

Likewise, if the market is moving down, and you stick with short trades, you’re improving your chances of success.

Trend following is great – but unfortunately, the market is not always moving in clear trends.

So, we need some more tricks up our sleeves.

2. Riding momentum

When you’re lacking a clear trend to follow, momentum provides another signal of market sentiment.

Momentum is simply the rate of change of a price, although it is often seen as a measure of volume – if prices are changing rapidly, it is likely that a lot of traders are buying or selling.

And, like trends, momentum can offer us a “free ride” in the direction of market sentiment.

There are a number of ways to measure momentum – the momentum indicator, rate of change, RSI, stochastics …. But there is a very simple sign you can look for – the size of the candle.

The length of a candlestick gives us a lot of information about the strength of market sentiment in one direction or another, so you can play momentum by simply following the direction of a long candlestick.

The technical stuff

Let’s say that if a candlestick was larger than the 10 previous candlesticks, we’ll open a position in the same direction as that movement …

This kind of trading is simply jumping on board moves and allowing that momentum to scalp you some profits.

The short trade you see on this example may or may not be triggered depending on how you gauge your candlestick’s length.

You might just look at the body – the difference between the open price and the close price. If this is the case, it would be a signal to trade.

However, many traders take into account the wicks on the candlesticks, and will view the lower wick as buying action, and the upper wick as selling action.

So, they’ll measure their candlesticks like this …

Riding these waves of market sentiment can be a great way to pick up points in the current market conditions, and with a few extra checks and balances to your momentum signals, you can filter out some of the false signals that will inevitably arise.

There are plenty more ideas coming up in the weeks ahead to keep us busy with our trading through the summer months …

Written by Mark Rose

trading strategies that work

trading strategies that work

Watch This Video Prove Before Continue

Trading is really a highly lucrative profession many different financial professionals day trading strategies and other people wanting to manufacture a foray into this highly profitable source of earning. Technology has redefined the way in which one does any type of activity, and it really is added the other fillip to everything about Forex trading too. One comes across a sensible automated strategy for trading which can be known as a Forex Robot while in the financial industry. It is an automated trading software programs are developed to be the strategy that may be mechanical, requiring no human interface while its going about doing what traders do. Allow us to understand the many attributes of implementing FX Robots and how you can help someone become an ace trader.

Volume - Trading begets higher returns should the sheer volume is increased. The automated set up helps generate more trades by using an average than an individuals being. Probably the most great ways to actually generate higher volumes across a vast arena and geographies instantly results in the scope of better trades far better earning potential.

Wont surrender to sentiments - This is a machine, a application which doesnt are afflicted by one of the primary barriers to successful trading-getting swayed by sentiments and emotions. This can be something all humankind are inclined to getting afflicted with, creating a negative trade or a tremendous loss in the markets. The computer arent going to be affected or go in an anxiety mode just with the huge slide from the market. It can keep functioning rationally, creating more stability than the human being element.

Making the most - This automated programme can run 24/7, 365 days 12 months without tiring. So, unlike a persons element, it does not need to require time off for anything. This feature implies that the unit can trade across all markets in the keep to the sun model route. It will trade while you sleep, utilizing every opportunity that is out with friends there. This works well for spreading the risks evenly and leads to a more balanced technique for trading overall.

Has immense potential - If an explorer is strong on his fundamentals, he could program the system to work and earn him much a lot more than the projected potential. Once a brilliant trader who studies the signals emitted by way of the robot system, and leverages them by making them another earning avenue, we have an incremental income opportunity generated consistently.

Related Videos to Trading Strategies That Work

makemoneytradingstocks/youtube. shtml A Simple Stock Trading Strategy that Works.

Stock trading101

Stock trading101Stock Trading 101

By Joshua Kennon. Investing for Beginners Expert

Thanks to his straight-forward approach and ability to simplify complex topics, Joshua Kennons series of lessons on financial statement analysis have been used by managers, investors, colleges and universities throughout the world. If an investment idea takes more than a few sentences, or cannot be explained to a reasonably intelligent fourth grader, youve moved into speculation, Joshua insists. Whether youre dealing with a public company such as McDonalds, or a private company such as Chanel, these are the types of firms that are easy to understand. You know where the sales originate, what the costs are, and how profits are generated. These are the types of enterprises that arent going to cause you to wake up in the middle of the night, breaking into a cold sweat because of the sub-prime crisis or esoteric securities trading in illiquid markets. Thats a huge advantage to growing your wealth. Focus on what you know, pay a fair price, and invest for the long-term.

The 12 Types of Trades You Can Place with a Stock Broker

There are twelve types of trades available when you start online stock trading. These include the market trade, limit trade. stop loss, day orders. good-till-canceled trades, trailing stops. bracket trades. and more. In a few minutes, you can walk through this step-by-step guide to stock trading and find a definition and example for each of these terms that you may have heard but were always too afraid or embarrassed to ask what they meant. Learn the twelve types of trades that are available to you when investing in stocks. More »

How to Short Stock

Once you have been approved for margin stock trading, you are also eligible to short stock. Although they are often criticized in the press, almost every successful stock trader has shorted stock at one time or another. When you short stock. you make money when the companys shares fall (or, better yet, crash). The problem is you may expose yourself to unlimited liability. Find out how you can begin shorting stock in your brokerage account. More »

Stock Trading and the Investment Bank

Now that youve learned about market markers and the role they play in stock trading, its time to go one step further and introduce you to the investment bank. If you are extremely wealthy, you may trade directly with an investment bank. Otherwise, your stock broker trades on your behalf through an investment bank, whether you realize it or not. Understand how investment banks make trading stocks possible. More »

Stock Trading 101

Day Trading 101

For those of you who are thinking of entering the exciting world of daily stock trading, here is a little Day Trading 101 to get you up to speed and help minimize the potential pitfalls. It does take knowledge, the ability to react quickly, and a steady nerve when prices do not rise as you anticipate participating in the day trading of stocks.

Day Trading can be a rewarding endeavor for those who are persistent in continuing to learn from mistakes and take advantage of opportunities. However, before we get to the nuts and bolts of Day Trading 101, let’s start by asking a rather obvious question.

What exactly is day trading?

Day Trading is the buying and selling of stocks based on the tiny fluctuations of market prices that occur many times over the course of a single day. A day trader is someone who sits at a computer with a high speed internet connection so they can watch the minute by minute fluctuations of the stock market. This is not to be confused with the overall trend of a particular stock. This is more along the lines of the small fluctuations in price that can occur at any given time.

For example, let’s say over the course of a day, stock “A” drops ten points, but during that time, stock “A” may fluctuate up and down a point or more at a time. Perhaps it starts by dropping three points, rises two, drops four, and rises up five, then falls nine points at the end of the day. A day trader could conceivably buy the stock after it first drops three points, then sell when it rises up two, making a substantial profit depending on the money put up despite the fact that the stock fell afterwards. Of course, a day trader could also have bought the stock after it rose up five points only to see it plummet by nine and lose a considerable amount of money.

How Do I Become a Day Trader?

The next step in Day Trading 101 is setting you up with the right equipment. First, you need is an up to date computer with a high speed internet connection. Next, find a reliable, established trading site that will handle your transactions such at Schwab or ETrade for example. They are well established brands that offer low fees per stock purchase.

The next step in Day Trading 101 is research and lots of it . You will need to understand and internalize the daily fluctuations of the stock market. How they work, what factors or events occur that can cause stocks to bounce up and down in price, etc. You may want to practice on demo programs to help you understand how it all works.

Now you will need some capitol to invest in the stocks you want. Generally speaking, the more money you can invest, the more you can make or lose, so be prepared. Now you will want to pick stocks that have a high trade volume or liquidity with a big difference between their securities and asking price, these are the stocks to select.

And now you are as ready as you’ll ever be. Your education goes well beyond Day Trading 101 as experience will now be your best instructor. Be sure to read our featured articles located in the sidebar of this site. We also suggest visiting the many sponsors that you see on this site for further information in your area of interest.

stock trading 101

Watch This Video Prove Before Continue

Trading is a huge highly lucrative profession with a lot of financial professionals day trading strategies and others wanting to make a foray into this highly profitable method to obtain earning. Technologies have redefined how one does almost any activity, and this has added any additional fillip to Forex trading too. One results in a good automated technique for trading thats known as the Forex Robot from the financial industry. It is an automated trading software programs are designed to be the strategy which is mechanical, requiring no human interface while its going about doing what traders do. Lets understand the different attributes of implementing FX Robots and how they may help someone become an ace trader.

Volume - Trading begets higher returns in case the sheer volume is increased. The automated create helps generate more trades on an average than an individual being. The single most best ways to actually generate higher volumes across a great arena and geographies in real time ends in the scope of better trades and better earning potential.

Isnt going to give in to sentiments - It is just a machine, a computer software that does not experience the most significant barriers to successful trading-getting swayed by sentiments and emotions. This is a thing all people are inclined to getting plagued by, resulting in a negative trade or an important decrease in the markets. The system wont be affected or be put into a panic mode just because the huge slide inside market. It helps keep functioning rationally, passing on more stability than the human element.

Making the most - This automated programme can run 24/7, 365 days annually without tiring. So, unlike a persons element, it need not take time off for anything. This feature demonstrates the device can trade across all markets inside of a stick to the sun model route. It will trade while you fall asleep, utilizing every opportunity that has gone out there. This helps with spreading the potential health risks evenly and leads to a more balanced way of trading overall.

Has immense potential - If an investor is strong on his fundamentals, hell program the machine to succeed and earn him much more than the projected potential. Once an intelligent trader who studies the signals emitted from the robot system, and leverages them by making them another earning avenue, there is an incremental income opportunity generated consistently.

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Stock Trading 101 All You Need to Know to Get Started in the Stock Market First is risk capital. This is money that you have that even if you lose 100% of it, it will

Expert advisor

Expert advisorExpert Advisor

posted by admin on July 20, 2011 at 4:25 pm

About expert advisors

When entering into the Forex market, it is wise if you ready yourself with the tough competition that occurs in that kind of business. One thing that brokers do in order for them to meet the demands of the market is they use a certain tool known as Expert Advisor. An expert advisor is a tool that is incorporated into the metatrader platform. It functions just like a robot wherein it does the jobs being pre determined by the broker. Just by looking at the name itself, an expert advisor is being programmed into the trading software in order to give assistance to the investors who trade in the Forex market. This is made possible by running a predetermined trading strategy in the account that you will be using.

Types of expert advisors

Generally, an expert advisor has two types. The first type of expert advisor is known as the Manual Expert Advisor . This type of expert advisor is at its simplest form as it only notifies you when there is a trading condition that exists. If there is none, then it will just keep mum. The second type is termed as the Automatic Expert Advisor. This expert advisor, on the other hand, belongs to the advanced category because of its capabilities. It is able to execute trading strategies automatically depending on what was being set. Also, this type of expert advisor is able to close and open trading positions when the set parameters are being achieved. Furthermore, the automatic type of expert advisor has the ability to control the different strategy parameters including the stop loss and take profit levels.

Advantages of using an expert advisor

One of the main advantages that brokers get in using an expert advisor is that they are being freed from the psychological and emotional pressures brought about by the demands in the Forex market. Since the utilization of an expert advisor means a mechanical method of trading, it then follows that all decisions done by the expert advisor is purely based on statistics and algorithms. This brings you to the next advantage wherein brokers are assured that although expert advisors are programs, the decisions it does are still based on mathematical calculations. In just a matter of minutes or even seconds, different processes can be done simultaneously across different trading markets. Another thing is that the use of an expert advisor enables you to proceed with your transactions throughout the week even without stop. This may mean higher profits for the brokers. With this innovative tool, there is no need for investors to manually check the different economic indicators as the expert advisor will do it for them. This becomes possible for the expert advisors because predetermined set of algorithms are programmed within the system in order to analyze and weigh the different variables involved. Lastly, investors are able to save more time and effort in doing their transactions with the help of the expert advisor. Instead of paying so much attention on the different indicators and analyze the fluctuations, the expert advisors will do it for them, thus, they can do other things while dealing with different processes.

However, when purchasing an expert advisor, much care has to be dealt with as there are other products wherein the expert advisors are not really that good. If that’s the case, then it means another burden on the part of the investor. Instead of just executing the orders, you still have to make sure that all executions and decisions made by the expert advisor are all correct. If not, then you are at high risk for profit losses. It would be better if a demo version will be tried first before purchasing the full version of such software. In this manner, you can assess whether the expert advisor is effective or not. If you are the type of investor who wants to succeed in the world of Forex, the right utilization of programs and softwares is very important. Be aware that even big-time Forex investors use expert advisors in order to help them with their transactions. This means then that expert advisors can really be of great help, especially in the foreign exchange market. About expert advisors

When entering into the Forex market, it is wise if you ready yourself with the tough competition that occurs in that kind of business. One thing that brokers do in order for them to meet the demands of the market is they use a certain tool known as Expert Advisor. An expert advisor is a tool that is incorporated into the metatrader platform. It functions just like a robot wherein it does the jobs being pre determined by the broker. Just by looking at the name itself, an expert advisor is being programmed into the trading software in order to give assistance to the investors who trade in the Forex market. This is made possible by running a predetermined trading strategy in the account that you will be using.

Types of expert advisors

Generally, an expert advisor has two types. The first type of expert advisor is known as the Manual Expert Advisor . This type of expert advisor is at its simplest form as it only notifies you when there is a trading condition that exists. If there is none, then it will just keep mum. The second type is termed as the Automatic Expert Advisor. This expert advisor, on the other hand, belongs to the advanced category because of its capabilities. It is able to execute trading strategies automatically depending on what was being set. Also, this type of expert advisor is able to close and open trading positions when the set parameters are being achieved. Furthermore, the automatic type of expert advisor has the ability to control the different strategy parameters including the stop loss and take profit levels.

Advantages of using an expert advisor

One of the main advantages that brokers get in using an expert advisor is that they are being freed from the psychological and emotional pressures brought about by the demands in the Forex market. Since the utilization of an expert advisor means a mechanical method of trading, it then follows that all decisions done by the expert advisor is purely based on statistics and algorithms. This brings you to the next advantage wherein brokers are assured that although expert advisors are programs, the decisions it does are still based on mathematical calculations. In just a matter of minutes or even seconds, different processes can be done simultaneously across different trading markets. Another thing is that the use of an expert advisor enables you to proceed with your transactions throughout the week even without stop. This may mean higher profits for the brokers. With this innovative tool, there is no need for investors to manually check the different economic indicators as the expert advisor will do it for them. This becomes possible for the expert advisors because predetermined set of algorithms are programmed within the system in order to analyze and weigh the different variables involved. Lastly, investors are able to save more time and effort in doing their transactions with the help of the expert advisor. Instead of paying so much attention on the different indicators and analyze the fluctuations, the expert advisors will do it for them, thus, they can do other things while dealing with different processes.

However, when purchasing an expert advisor, much care has to be dealt with as there are other products wherein the expert advisors are not really that good. If that’s the case, then it means another burden on the part of the investor. Instead of just executing the orders, you still have to make sure that all executions and decisions made by the expert advisor are all correct. If not, then you are at high risk for profit losses. It would be better if a demo version will be tried first before purchasing the full version of such software. In this manner, you can assess whether the expert advisor is effective or not. If you are the type of investor who wants to succeed in the world of Forex, the right utilization of programs and softwares is very important. Be aware that even big-time Forex investors use expert advisors in order to help them with their transactions. This means then that expert advisors can really be of great help, especially in the foreign exchange market. About expert advisors

When entering into the Forex market, it is wise if you ready yourself with the tough competition that occurs in that kind of business. One thing that brokers do in order for them to meet the demands of the market is they use a certain tool known as Expert Advisor. An expert advisor is a tool that is incorporated into the metatrader platform. It functions just like a robot wherein it does the jobs being pre determined by the broker. Just by looking at the name itself, an expert advisor is being programmed into the trading software in order to give assistance to the investors who trade in the Forex market. This is made possible by running a predetermined trading strategy in the account that you will be using.

Types of expert advisors

Generally, an expert advisor has two types. The first type of expert advisor is known as the Manual Expert Advisor . This type of expert advisor is at its simplest form as it only notifies you when there is a trading condition that exists. If there is none, then it will just keep mum. The second type is termed as the Automatic Expert Advisor. This expert advisor, on the other hand, belongs to the advanced category because of its capabilities. It is able to execute trading strategies automatically depending on what was being set. Also, this type of expert advisor is able to close and open trading positions when the set parameters are being achieved. Furthermore, the automatic type of expert advisor has the ability to control the different strategy parameters including the stop loss and take profit levels.

Advantages of using an expert advisor

One of the main advantages that brokers get in using an expert advisor is that they are being freed from the psychological and emotional pressures brought about by the demands in the Forex market. Since the utilization of an expert advisor means a mechanical method of trading, it then follows that all decisions done by the expert advisor is purely based on statistics and algorithms. This brings you to the next advantage wherein brokers are assured that although expert advisors are programs, the decisions it does are still based on mathematical calculations. In just a matter of minutes or even seconds, different processes can be done simultaneously across different trading markets. Another thing is that the use of an expert advisor enables you to proceed with your transactions throughout the week even without stop. This may mean higher profits for the brokers. With this innovative tool, there is no need for investors to manually check the different economic indicators as the expert advisor will do it for them. This becomes possible for the expert advisors because predetermined set of algorithms are programmed within the system in order to analyze and weigh the different variables involved. Lastly, investors are able to save more time and effort in doing their transactions with the help of the expert advisor. Instead of paying so much attention on the different indicators and analyze the fluctuations, the expert advisors will do it for them, thus, they can do other things while dealing with different processes.

However, when purchasing an expert advisor, much care has to be dealt with as there are other products wherein the expert advisors are not really that good. If that’s the case, then it means another burden on the part of the investor. Instead of just executing the orders, you still have to make sure that all executions and decisions made by the expert advisor are all correct. If not, then you are at high risk for profit losses. It would be better if a demo version will be tried first before purchasing the full version of such software. In this manner, you can assess whether the expert advisor is effective or not. If you are the type of investor who wants to succeed in the world of Forex, the right utilization of programs and softwares is very important. Be aware that even big-time Forex investors use expert advisors in order to help them with their transactions. This means then that expert advisors can really be of great help, especially in the foreign exchange market.

expert advisor

Watch This Video Prove Before Continue

Trading has become a highly lucrative profession with many different financial professionals day trading strategies and others wanting to manufacture a foray into this highly profitable method of obtaining earning. Technology has redefined just how you do almost any activity, and its added extra fillip to the world of Forex trading too. One finds a good automated way of trading which happens to be known as Forex Robot inside the financial industry. It becomes an automated trading applications are developed to function as a strategy that is certainly mechanical, requiring no human interface while its about doing what traders do. I want to understand the several advantages of implementing FX Robots and how they can help someone become an ace trader.

Volume - Trading begets higher returns when the sheer volume is increased. The automated set up helps generate more trades on an average than an individuals being. The most best ways to actually generate higher volumes across a great arena and geographies instantly translates into the scope of better trades far better earning potential.

Does not resign yourself to sentiments - It is just a machine, a program it doesnt are afflicted with one of the greatest barriers to successful trading-getting swayed by sentiments and emotions. This is one area all humankind are inclined to getting plagued by, producing a negative trade or a large reduction in the markets. The device is definately not affected or use an anxiety mode just due to the huge slide in the market. It can keep functioning rationally, giving it more stability than our element.

Making the most - This automated programme can run 24/7, 365 days 1 year without tiring. So, unlike a persons element, it doesnt need to in your own time off for anything. This feature ensures that the device can trade across all markets within a stick to the sun model route. It is going to trade while you fall asleep, using every opportunity that is going there. This assists in spreading the potential risks evenly and results in a more balanced strategy for trading overall.

Has immense potential - If an investor is strong on his fundamentals, he is able to program the device to do well and earn him much over the projected potential. Once a sensible trader who studies the signals emitted from the robot system, and leverages them by causing them another earning avenue, theres an incremental income opportunity generated consistently.

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Using accurate Indicator High risk with very high profit 10000% ++.

High probability day trading strategies and systems

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High Probability Day Trading Strategies and Systems

Welcome to the World of Day Trading!

The purpose of this book is to introduce you to the world of day trading. But well go deeper than that. Were going to get at key concepts as well as a philosophy of trading stocks that many traders fail to realize when they start out on their own.

The concepts and ideas presented in this book can end up saving you thousands of dollars if you will simply listen to someone who has gone before you.

You see, Ive been trading stocks for a very long time. Ive had the good fortune to help thousands of students learn how to profit from the trading of stocks. From their letters and emails, and by talking with them at national trader conferences, I know how

difficult it is for new traders to get started on the right foot. And I want to shorten your learning curve.

There is no need for you to repeat the same mistakes that thousands of other traders have made before you. So part of the goal of this book is to tell you where other traders have made mistakes so you dont have to repeat them. There is no secret society here where only a small handful of traders really know how to do this thing called day trading.

Instead, youll find the world of stock trading to be filled with generous people who are willing to share their time, ideas, and support with you. So, if you are new to the world of day trading, then this could be your first step toward a whole new universe.

Posts related to High Probability Day Trading Strategies and Systems

Forex trading room performance

Forex trading room performanceForex Trading Room Performance

Forex Performance Tracking for the Forex Day Trading room is based on 5 (five) standard lots per each signal made inside the Forex Day Trading Room and by accessing Forex Performance Tracking under the Guide to Services section. Historical tick by tick details, including posted entry price, exit price and profit or loss, available on our Market Commentary page, during the New York Market Session. You have the ability to access detailed Forex performance signals by year and date.

Sign up today for a One Week Free Trial to our Forex Day Trading Room!

Performance Forex Tracking

Are you using our service to try to duplicate our Forex Performance Tracking results? If you can - that is great however, signals are given in the trading room based on trades that have gone through the market a moment before moderators post their first winner alert.

Traders Forex Tracking

By the time our Moderators give a trading signal in the Forex Trading Room, 'Consider Long' or 'Consider Short' and you the trader decides to execute a trade, the forex contract has already moved, up or down because forex contracts do not stop moving or wait for you until you enter your position.

Your Internet speed as well as the processor speed of your computer or laptop could effect your trade execution.

Your Broker as well as your experience at Forex Day Trading will have an effect on your individual trading performance.

Focus on Your Trading Strategy

The reason we post our Forex Performance Tracking is so you can see what is going on in the Forex Day Trading Room and what our Moderators are doing on a daily basis. We do not imply that a trader can duplicate the Performance. Our Moderators are here to provide trading signals and it's up to you the trader to make the trades.

To view more about this Premium Service for Forex Performance Tracking, access the Forex Day Trading Room page.

Performance and results

Results reflect recent trades taken since August 1, 2015 with the new DreamTrader system as shown and demonstrated in our Live Trading Room.

*Disclaimer: Any and all opinions, commentary, news, research, analyses, prices, or other information contained on this website are provided as general market commentary, and do not constitute investment advice nor a solicitation and there are no guarantees associated with them. We are not liable for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. We have taken reasonable measures to ensure the accuracy of the information on the website. The content on this website is subject to change at any time without notice.

Foreign Exchange market (FX, Forex) is very speculative in nature, involves considerable risk and is not appropriate for all investors. Therefore, before deciding to participate in off-exchange Foreign Exchange trading/Forex, you should carefully consider your investment objectives, level of experience and risk appetite. Investors should only use risk or surplus capital when trading Forex because there is always the risk of substantial loss. Most importantly, do not invest money you cannot afford to lose. Any mention of past performance is not indicative of future results. Account access, trade executions and system response may be adversely affected by market conditions, quote delays, system performance and other factors.

Commodity Futures Trading Commission: Futures, Options and foreign currency trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the Forex/futures and options markets. Don’t trade with money you can’t afford to lose. This is neither a solicitation nor an offer to Buy/Sell Forex/futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.

CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN. CURRENCY TRADING INVOLVES HIGH RISK AND YOU CAN LOSE A LOT OF MONEY.

Subscribing to our service means you agree to our terms and conditions.

Forex trading room performance

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About the author

The Daily Market Commentary is published by Millennium-Traders after the U. S. Markets close each day, with free access for visitors as well as, availability from RSS Feed for the convenience of our readers. Information in the Commentary includes details of major indices action for the day as well as, results of major economic data released during the current market session.

A vital list of momentum stocks traded by active day traders for both the NYSE and the NASDAQ is provided for readers, to enable them the opportunity to watch for what may be in play, for the next markets session. End of day results for the Commodities Markets, Metals Markets, Meat Markets and Bond Markets is included in the Daily Market Commentary.

For traders actively involved in the markets on a daily basis, the Daily Market Commentary provides a full summary of how the trading day, played out. Millennium-Traders launched onto the Internet in November 1999, focusing on the needs of the active trader. As time progressed, Millennium-Traders has expanded its available market tools to include a variety of services for the active Day Trader of stocks, futures and forex and Swing Traders trading stocks.

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FXstreet launches new free live analysis room: 4 hours daily

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Forex portal FXstreet launches a new service for traders: a live trading room that will operate 4 hours on every weekday: between 13:00 to 17:00 GMT.

Veteran analysts and trader Dale Pinkert will run the room and the aim is to have a close relationship between experts and traders, similar to the atmosphere at FXstreets International Traders Conference events.

For more details, here is the blog post announcing this launch and the official press release is below:

Barcelona, May 31st, 2013 — FXstreet is excited to present its Live Analysis Room, a new free service that offers Forex traders assistance, market analysis and strategies in real time on a daily basis.

Starting June 3rd, every weekday from 13 GMT to 17 GMT, 20 hours per week, trader and analyst Dale Pinkert will provide mentorship assistance on live market helping to improve the traders’ performance. In addition, traders will collaborate to create successful strategies and to build each other as profitable market players. To close the circle, guest speakers will join the room to provide users with new insights.

Through the video streaming service Ustream, the mentor of the room will broadcast his charts and webcam, as well as his guests. Traders will be able to interact through a chat window that everyone will follow.

“Interaction and equal relationship between experts and traders is a core concept of the service”, says Carolina May, CEO of Fxstreet. “I believe the Live Analysis Room will be an amazing place for everyone to grow and become better and more educated traders. Live assistance, market commentaries and constant learning are key ingredients for it.”

With almost 40 years of experience, Dale Pinkert got his start in the trading business as a runner on the floor of the Chicago Mercantile Exchange (IOM Division) in 1975. In 1976 he became a licensed series 3 broker and went on to own and operate Pinkert Commodities. His forecasts and perspectives have been seen and heard in the last 35 years on radio and television stations such as CNBC, Kwhy TV and Channel 26 in Chicago along with Kmny Money Radio, Kceo and KFNN. He is a regular contributor on FXstreet since 2010. His trading performance is up 50% annualized since July 2011.

The Live Analysis Room will be sponsored by OANDA, market maker and trusted source for currency data. It has access to one of the worlds largest historical, high frequency, filtered currency databases. OANDA uses innovative computer and financial technology to provide Internet-based forex trading and currency information services to everyone.

When looking at the markets and discussing possible trades, Dale Pinkert will use OANDAs fxTrade platform. “We are pleased to be sponsoring FXstreet’s new Live Analysis Room”, says K Duker, CEO of OANDA. “It’s premium trader education made widely accessible – something OANDA staunchly supports. We’re pleased to partner with FXstreet to give retail traders greater access to the trading insights and activity of a market pro like Dale Pinkert.”

The schedule of each Live Analysis Room session will be as follows:

13:00 14:00 GMT (8–9 EST) Opening Bell segment Review overnight movements and their implications

14:00 – 15:00 GMT (9–10h EST) Brainstorm, Mastermind Hour Students and traders share ideas, methodologies and setups.

15:10 – 16:00 GMT (10–11 EST) Guest analysts give their take on market direction and forecasts

16:00 – 17:00 GMT (11–12 EST) Wrap up the day with unfolding scenarios. Preparing for the US session closing bell and for Asian and European sessions

The Live Analysis Room will be hosted on this page

Monthly Live Trading Room Performance

2010 FurQuad Snatch monthly performance figures.

FurQuad snatch version of strategy was rolled out in March.

The January and February figures have not been included here due to it being a upgrade which I wanted to keep separate.

This is currently my my active strategy.

2009-10 Trading Strategies monthly performance figures

Performance figures for what is now described on site as FurQuad Core.

This strategy was rolled out in October '09 through to Feb '10 when it was redeveloped to FurQuad Snatch.

Performance figures for Live Room Strategies compromised of breakouts, Fibonacci retracements, reversal patterns and Bollinger Band strategies on multiple cross rates.

The increasing complexity of the multiple strategy and multiple currency style of trading as well as a lack of consistency of movement during the UK trading session led to additional "desk time" through the US and Asian session.

This was just one of several contributing factors to move away from more standard technical analysis trading to my FurQuad strategy.

While the 2009 results up to this point are pretty good indeed the effect on my health to achieve these results was significant (just in case you are wondering why I decided to change a winning formula).

The change meant that I could trade smarter with less "desk time" and an increase in the bottom line.

2008 Trading Strategies monthly performance figures.

Trading mainly breakouts and Fibonacci retracements on multiple currency pairs.

The Live Training Room started in August and shows the result for all the trades talked through in the Live Training Room.

Msg management-study-guide

Msg management-study-guideComponents of a Strategy Statement

The strategy statement of a firm sets the firm’s long-term strategic direction and broad policy directions. It gives the firm a clear sense of direction and a blueprint for the firm’s activities for the upcoming years. The main constituents of a strategic statement are as follows:

Strategic Intent

An organization’s strategic intent is the purpose that it exists and why it will continue to exist, providing it maintains a competitive advantage. Strategic intent gives a picture about what an organization must get into immediately in order to achieve the company’s vision. It motivates the people. It clarifies the vision of the vision of the company.

Strategic intent helps management to emphasize and concentrate on the priorities. Strategic intent is, nothing but, the influencing of an organization’s resource potential and core competencies to achieve what at first may seem to be unachievable goals in the competitive environment. A well expressed strategic intent should guide/steer the development of strategic intent or the setting of goals and objectives that require that all of organization’s competencies be controlled to maximum value.

Strategic intent includes directing organization’s attention on the need of winning; inspiring people by telling them that the targets are valuable; encouraging individual and team participation as well as contribution; and utilizing intent to direct allocation of resources.

Strategic intent differs from strategic fit in a way that while strategic fit deals with harmonizing available resources and potentials to the external environment, strategic intent emphasizes on building new resources and potentials so as to create and exploit future opportunities.

Mission Statement

Mission statement is the statement of the role by which an organization intends to serve it’s stakeholders. It describes why an organization is operating and thus provides a framework within which strategies are formulated. It describes what the organization does (i. e. present capabilities), who all it serves (i. e. stakeholders) and what makes an organization unique (i. e. reason for existence).

A mission statement differentiates an organization from others by explaining its broad scope of activities, its products, and technologies it uses to achieve its goals and objectives. It talks about an organization’s present (i. e. “about where we are”). For instance, Microsoft’s mission is to help people and businesses throughout the world to realize their full potential. Wal-Mart’s mission is “To give ordinary folk the chance to buy the same thing as rich people.” Mission statements always exist at top level of an organization, but may also be made for various organizational levels. Chief executive plays a significant role in formulation of mission statement. Once the mission statement is formulated, it serves the organization in long run, but it may become ambiguous with organizational growth and innovations.

In today’s dynamic and competitive environment, mission may need to be redefined. However, care must be taken that the redefined mission statement should have original fundamentals/components. Mission statement has three main components-a statement of mission or vision of the company, a statement of the core values that shape the acts and behaviour of the employees, and a statement of the goals and objectives.

Features of a Mission

Mission must be feasible and attainable. It should be possible to achieve it.

Mission should be clear enough so that any action can be taken.

It should be inspiring for the management, staff and society at large.

It should be precise enough, i. e. it should be neither too broad nor too narrow.

It should be unique and distinctive to leave an impact in everyone’s mind.

It should be analytical, i.e. it should analyze the key components of the strategy.

It should be credible . i. e. all stakeholders should be able to believe it.

A vision statement identifies where the organization wants or intends to be in future or where it should be to best meet the needs of the stakeholders. It describes dreams and aspirations for future. For instance, Microsoft’s vision is “to empower people through great software, any time, any place, or any device.” Wal-Mart’s vision is to become worldwide leader in retailing.

A vision is the potential to view things ahead of themselves. It answers the question “where we want to be”. It gives us a reminder about what we attempt to develop. A vision statement is for the organization and it’s members, unlike the mission statement which is for the customers/clients. It contributes in effective decision making as well as effective business planning. It incorporates a shared understanding about the nature and aim of the organization and utilizes this understanding to direct and guide the organization towards a better purpose. It describes that on achieving the mission, how the organizational future would appear to be.

An effective vision statement must have following features -

It must be unambiguous .

It must be clear .

It must harmonize with organization’s culture and values.

The dreams and aspirations must be rational/realistic .

Vision statements should be shorter so that they are easier to memorize.

In order to realize the vision, it must be deeply instilled in the organization, being owned and shared by everyone involved in the organization.

Goals and Objectives

A goal is a desired future state or objective that an organization tries to achieve. Goals specify in particular what must be done if an organization is to attain mission or vision. Goals make mission more prominent and concrete. They co-ordinate and integrate various functional and departmental areas in an organization. Well made goals have following features-

These are precise and measurable .

These look after critical and significant issues.

These are realistic and challenging.

These must be achieved within a specific time frame.

These include both financial as well as non-financial components .

Objectives are defined as goals that organization wants to achieve over a period of time. These are the foundation of planning. Policies are developed in an organization so as to achieve these objectives. Formulation of objectives is the task of top level management. Effective objectives have following features-

These are not single for an organization, but multiple .

Objectives should be both short-term as well as long-term .

Objectives must respond and react to changes in environment, i. e. they must be flexible .

These must be feasible, realistic and operational .

Learn management concepts & skills rapidly with easy to understand, richly illustrated self-paced learning modules & downloadable powerpoint presentations.

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Training and Development - Meaning, its Need and Importance

Training and development is vital part of the human resource development . It is assuming ever important role in wake of the advancement of technology which has resulted in ever increasing competition, rise in customer’s expectation of quality and service and a subsequent need to lower costs. It is also become more important globally in order to prepare workers for new jobs. In the current write up, we will focus more on the emerging need of training and development, its implications upon individuals and the employers.

Noted management author Peter Drucker said that the fastest growing industry would be training and development as a result of replacement of industrial workers with knowledge workers. In United States, for example, according to one estimate technology is de-skilling 75 % of the population. This is true for the developing nations and for those who are on the threshold of development. In Japan for example, with increasing number of women joining traditionally male jobs, training is required not only to impart necessary job skills but also for preparing them for the physically demanding jobs. They are trained in everything from sexual harassment policies to the necessary job skills.

The need for Training and Development

Before we say that technology is responsible for increased need of training inputs to employees, it is important to understand that there are other factors too that contribute to the latter. Training is also necessary for the individual development and progress of the employee, which motivates him to work for a certain organisation apart from just money. We also require training update employees of the market trends, the change in the employment policies and other things.

The following are the two biggest factors that contribute to the increased need to training and development in organisations:

Change: The word change encapsulates almost everything. It is one of the biggest factors that contribute to the need of training and development. There is in fact a direct relationship between the two. Change leads to the need for training and development and training and development leads to individual and organisational change, and the cycle goes on and on. More specifically it is the technology that is driving the need; changing the way how businesses function, compete and deliver.

Development: It is again one the strong reasons for training and development becoming all the more important. Money is not the sole motivator at work and this is especially very true for the 21st century. People who work with organisations seek more than just employment out of their work; they look at holistic development of self. Spirituality and self awareness for example are gaining momentum world over. People seek happiness at jobs which may not be possible unless an individual is aware of the self. At ford, for example, an individual can enrol himself / herself in a course on ‘self awareness’, which apparently seems inconsequential to ones performance at work but contributes to the spiritual well being of an individual which is all the more important.

The critical question however remains the implications and the contribution of training and development to the bottom line of organisations performance. To assume a leadership position in the market space, an organisation will need to emphasise on the kind of programs they use to improvise performance and productivity and not just how much they simply spend on learning!

Next Article ❯

Performance Management - Meaning, System and Process

Definition of Performance Management

The role of HR in the present scenario has undergone a sea change and its focus is on evolving such functional strategies which enable successful implementation of the major corporate strategies. In a way, HR and corporate strategies function in alignment. Today, HR works towards facilitating and improving the performance of the employees by building a conducive work environment and providing maximum opportunities to the employees for participating in organizational planning and decision making process.

Today, all the major activities of HR are driven towards development of high performance leaders and fostering employee motivation. So, it can be interpreted that the role of HR has evolved from merely an appraiser to a facilitator and an enabler.

Performance management is the current buzzword and is the need in the current times of cut throat competition and the organizational battle for leadership. Performance management is a much broader and a complicated function of HR, as it encompasses activities such as joint goal setting, continuous progress review and frequent communication, feedback and coaching for improved performance, implementation of employee development programmes and rewarding achievements .

The process of performance management starts with the joining of a new incumbent in a system and ends when an employee quits the organization.

Performance management can be regarded as a systematic process by which the overall performance of an organization can be improved by improving the performance of individuals within a team framework. It is a means for promoting superior performance by communicating expectations, defining roles within a required competence framework and establishing achievable benchmarks.

According to Armstrong and Baron (1998), Performance Management is both a strategic and an integrated approach to delivering successful results in organizations by improving the performance and developing the capabilities of teams and individuals.

The term performance management gained its popularity in early 1980’s when total quality management programs received utmost importance for achievement of superior standards and quality performance. Tools such as job design, leadership development, training and reward system received an equal impetus along with the traditional performance appraisal process in the new comprehensive and a much wider framework. Performance management is an ongoing communication process which is carried between the supervisors and the employees through out the year. The process is very much cyclical and continuous in nature. A performance management system includes the following actions .

Developing clear job descriptions and employee performance plans which includes the key result areas (KRA') and performance indicators.

Selection of right set of people by implementing an appropriate selection process.

Negotiating requirements and performance standards for measuring the outcome and overall productivity against the predefined benchmarks.

Providing continuous coaching and feedback during the period of delivery of performance.

Identifying the training and development needs by measuring the outcomes achieved against the set standards and implementing effective development programs for improvement.

Holding quarterly performance development discussions and evaluating employee performance on the basis of performance plans.

Designing effective compensation and reward systems for recognizing those employees who excel in their jobs by achieving the set standards in accordance with the performance plans or rather exceed the performance benchmarks.

Providing promotional/career development support and guidance to the employees.

Performing exit interviews for understanding the cause of employee discontentment and thereafter exit from an organization.

A performance management process sets the platform for rewarding excellence by aligning individual employee accomplishments with the organization’s mission and objectives and making the employee and the organization understand the importance of a specific job in realizing outcomes. By establishing clear performance expectations which includes results, actions and behaviors, it helps the employees in understanding what exactly is expected out of their jobs and setting of standards help in eliminating those jobs which are of no use any longer. Through regular feedback and coaching, it provides an advantage of diagnosing the problems at an early stage and taking corrective actions.

To conclude, performance management can be regarded as a proactive system of managing employee performance for driving the individuals and the organizations towards desired performance and results. It’s about striking a harmonious alignment between individual and organizational objectives for accomplishment of excellence in performance.

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Training Needs Analysis

Training is an expensive process not only in terms of the money spent on it but also the time and the other resources spent on the same. The most important question therefore is determining whether or not a need for training actually exists and whether the intervention will contribute to the achievement of organisational goal directly or indirectly? The answer to the above mentioned question lies in ‘training needs analysis’ which is the first step in the entire process of training and development.

Training needs analysis is a systematic process of understanding training requirements. It is conducted at three stages - at the level of organisation, individual and the job, each of which is called as the organisational, individual and job analysis . Once these analyses are over, the results are collated to arrive upon the objectives of the training program.

Another view of the training need is that, it is the discrepancy between ‘what is’ and ‘what should be’. Taking cues from this the world bank conducted a needs analysis and arrived upon the conclusion that many of its units in eastern regions of Europe required transformation from state owned business to self sustaining organisations. A number of universities were then contacted to develop the necessary modules and conduct the training upon the same.

Although each step in the entire training process is unique in its own, needs analysis is special in that it lays the foundation for the kind of training required. The assessment gives insight into what kind of intervention is required, knowledge or skill or both. In certain cases where both of these are present and the performance is still missing then the problem may be motivational in nature. It thus highlights the need and the appropriate intervention which is essential to make the training effective.

As mentioned earlier, the needs analysis / assessment is carried out at three levels - organisational, Individual and Job. We now take up each one of them in detail.

Organisational Analysis

The organisational analysis is aimed at short listing the focus areas for training within the organisation and the factors that may affect the same. Organisational mission, vision, goals, people inventories, processes, performance data are all studied. The study gives cues about the kind of learning environment required for the training. Motorola and IBM for example, conduct surveys every year keeping in view the short term and long term goals of the organisation.

Job Analysis

The job analysis of the needs assessment survey aims at understanding the ‘what’ of the training development stage. The kind of intervention needed is what is decided upon in the job analysis. It is an objective assessment of the job wherein both the worker oriented - approach as well as the task - oriented approach is taken into consideration. The worker approach identifies key behaviours and ASK for a certain job and the task - oriented approach identifies the activities to be performed in a certain job. The former is useful in deciding the intervention and the latter in content development and program evaluation.

Individual Analysis

As evident from the name itself, the individual analysis is concerned with who in the organisation needs the training and in which particular area. Here performance is taken out from the performance appraisal data and the same is compared with the expected level or standard of performance. The individual analysis is also conducted through questionnaires, 360 feedback, personal interviews etc. Likewise, many organisation use competency ratings to rate their managers; these ratings may come from their subordinates, customers, peers, bosses etc. Apart from the above mentioned organisations also make use of attitude surveys, critical Incidents and Assessment surveys to understand training needs which will be discussed in detail in other articles.

Strategy Evaluation Process and its Significance

Strategy Evaluation is as significant as strategy formulation because it throws light on the efficiency and effectiveness of the comprehensive plans in achieving the desired results. The managers can also assess the appropriateness of the current strategy in todays dynamic world with socio-economic, political and technological innovations. Strategic Evaluation is the final phase of strategic management .

The significance of strategy evaluation lies in its capacity to co-ordinate the task performed by managers, groups, departments etc, through control of performance . Strategic Evaluation is significant because of various factors such as - developing inputs for new strategic planning, the urge for feedback, appraisal and reward, development of the strategic management process, judging the validity of strategic choice etc.

The process of Strategy Evaluation consists of following steps -

Fixing benchmark of performance - While fixing the benchmark, strategists encounter questions such as - what benchmarks to set, how to set them and how to express them. In order to determine the benchmark performance to be set, it is essential to discover the special requirements for performing the main task. The performance indicator that best identify and express the special requirements might then be determined to be used for evaluation. The organization can use both quantitative and qualitative criteria for comprehensive assessment of performance. Quantitative criteria includes determination of net profit, ROI, earning per share, cost of production, rate of employee turnover etc. Among the Qualitative factors are subjective evaluation of factors such as - skills and competencies, risk taking potential, flexibility etc.

Measurement of performance - The standard performance is a bench mark with which the actual performance is to be compared. The reporting and communication system help in measuring the performance. If appropriate means are available for measuring the performance and if the standards are set in the right manner, strategy evaluation becomes easier. But various factors such as managers contribution are difficult to measure. Similarly divisional performance is sometimes difficult to measure as compared to individual performance. Thus, variable objectives must be created against which measurement of performance can be done. The measurement must be done at right time else evaluation will not meet its purpose. For measuring the performance, financial statements like - balance sheet, profit and loss account must be prepared on an annual basis.

Analyzing Variance - While measuring the actual performance and comparing it with standard performance there may be variances which must be analyzed. The strategists must mention the degree of tolerance limits between which the variance between actual and standard performance may be accepted. The positive deviation indicates a better performance but it is quite unusual exceeding the target always. The negative deviation is an issue of concern because it indicates a shortfall in performance. Thus in this case the strategists must discover the causes of deviation and must take corrective action to overcome it.

Taking Corrective Action - Once the deviation in performance is identified, it is essential to plan for a corrective action. If the performance is consistently less than the desired performance, the strategists must carry a detailed analysis of the factors responsible for such performance. If the strategists discover that the organizational potential does not match with the performance requirements, then the standards must be lowered. Another rare and drastic corrective action is reformulating the strategy which requires going back to the process of strategic management, reframing of plans according to new resource allocation trend and consequent means going to the beginning point of strategic management process.

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Training of Employees - Need and Importance of Training

Training of employees takes place after orientation takes place. Training is the process of enhancing the skills, capabilities and knowledge of employees for doing a particular job. Training process moulds the thinking of employees and leads to quality performance of employees. It is continuous and never ending in nature.

Importance of Training

Training is crucial for organizational development and success. It is fruitful to both employers and employees of an organization. An employee will become more efficient and productive if he is trained well.

Training is given on four basic grounds:

New candidates who join an organization are given training. This training familiarize them with the organizational mission, vision, rules and regulations and the working conditions.

The existing employees are trained to refresh and enhance their knowledge.

If any updations and amendments take place in technology, training is given to cope up with those changes. For instance, purchasing a new equipment, changes in technique of production, computer implantment. The employees are trained about use of new equipments and work methods.

When promotion and career growth becomes important. Training is given so that employees are prepared to share the responsibilities of the higher level job.

The benefits of training can be summed up as:

Improves morale of employees - Training helps the employee to get job security and job satisfaction. The more satisfied the employee is and the greater is his morale, the more he will contribute to organizational success and the lesser will be employee absenteeism and turnover.

Less supervision - A well trained employee will be well acquainted with the job and will need less of supervision. Thus, there will be less wastage of time and efforts.

Fewer accidents - Errors are likely to occur if the employees lack knowledge and skills required for doing a particular job. The more trained an employee is, the less are the chances of committing accidents in job and the more proficient the employee becomes.

Chances of promotion - Employees acquire skills and efficiency during training. They become more eligible for promotion. They become an asset for the organization.

Increased productivity - Training improves efficiency and productivity of employees. Well trained employees show both quantity and quality performance. There is less wastage of time, money and resources if employees are properly trained.

Ways/Methods of Training

Training is generally imparted in two ways:

On the job training - On the job training methods are those which are given to the employees within the everyday working of a concern. It is a simple and cost-effective training method. The inproficient as well as semi - proficient employees can be well trained by using such training method. The employees are trained in actual working scenario. The motto of such training is “learning by doing.” Instances of such on-job training methods are job-rotation, coaching, temporary promotions, etc.

Off the job training - Off the job training methods are those in which training is provided away from the actual working condition. It is generally used in case of new employees. Instances of off the job training methods are workshops, seminars, conferences, etc. Such method is costly and is effective if and only if large number of employees have to be trained within a short time period. Off the job training is also called as vestibule training, i.e. the employees are trained in a separate area( may be a hall, entrance, reception area, etc. known as a vestibule) where the actual working conditions are duplicated.