Setting Trading Goals, Laying out Plans, and Achieving:

The essential key to being a successful trader is learning how to set goals,

work with plans, and then of course, achieving your goals. Achieving your goals feels incredible and it gives you an emotional boost and the confidence to set new goals, lay out new plans, and to reach higher successfully. There isn't much predictability in the market, which can make it difficult for some people to know when to stick with a laid out plan to reach their goals or whether their goals can only be met by altering the plan. For those of us who are good at goal setting and planning but poor at flexibility the unpredictable status of the market can be very frustrating.

Methodical and removed approaches to planning your market strategy can be quite beneficial especially when you are trying to achieve a particular goal that isn't happening with your original plan. You aren't investing in your plan. Some of us have to consider planning more of a brainstorm to help keep ourselves detached from the outcome of our plan. We tend to take it personally when we set up a plan and study the markets and understand exactly how we're going to get where we want to go. It can feel like the market has betrayed us when our plan, which "should have worked" fails miserably.

Take a step back when things first start to unfold against the grain and reevaluate the plan. Maybe you saw something there that wasn't. Maybe you saw something there that was there and isn't there anymore. And perhaps you saw something that is there and you just need to be patient. It is not necessary to abandon a plan just because things seem to be a little less productive than expected. In many cases, especially if you picked up on a trade that was on a downward spiral but expected to bounce back, the waiting game can turn out to be profitable. In some cases it won't turn out so well. Your plan and your ability to study the market and a dash of luck will help determine how well it turns out for you.

In order to help keep yourself on track, it is vital that you take the time, regularly to check in on your goals, evaluate and update them, and do so in a way that is specifically tailored to what you want to gain from this experience. The more specific a goal is, the more tailored your actions will be when following up on it. Sure, everyone enters the market with the goal to make money. What kind of money, why, and what do you see yourself doing with it? What are your goals that have nothing to do with money? Do you want to develop enough discipline and a high enough skill level to work half days from your home office within the first five years? Why?

We tend to follow our plans and the roadmap to our goals more vigorously when we know exactly why we are doing something. Profit is nice. Having enough money to be able to spend more time with your family or devote some time to a good cause is a motivating factor that can inspire you to go through the process without specific attachment to any single plan.

When we know why we are trying to accomplish a goal, it is easier to look at a plan and ask ourselves if this plan will really get us where we want to end up faster or will it most likely hold us back? We all have goals. Writing them down in specific and vivid detail helps us uncover the reason we want the goal. These are the two main elements to creating a solid career based on objective decision making and commitment to the final outcome.


ForexGen Scalping Enabled Account

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Advantages of No Dealing Desk Option

* Trade the news without intervention or restrictions * Although spreads may vary in volatile market conditions, they are tried to be kept within the usually limits. * Place scalping orders without intervention or restrictions. * A client-friendly trading environment, No re-quotes. * Ability to place orders inside the spread * Competing rates from multiple banks * Spreads are variable and can move sharply * Ideal for active or professional FX traders

For more information about our current and future promotions, kindly visit this page often or contact one of our customers support agents at promotions@forexgen.com

Forex Profits by Buying and Selling at the Same Time

This article is one of a series which looks at the advantages and weaknesses of trading using the hedged, grid trading system to trade volatile markets.

We will look at how money can be made by breaking a number of trading truths or principles; cut your losses and let your profit run and there is nothing to gained by entering into buy and sell deals at the same time.

The hedged grid trading system uses the principle that one should be able to cash in at a gain no matter which way the market moves. No stops are therefore required at all. The only way this is logically possible is that one would have a buy and sell active at the same time. Most traders will say that that is trading suicide but let's take some to look at this more closely.
Let's say that a trader enters the market with a buy and sell active when a currency is at a level of say 100. The price then moves to 200. The buy will then be positive by 100 and the sell will be negative by 100. At this point we start breaking trading rules. We cash in our positive buy and the gain of 100 goes to our account. The sell is now carrying a loss of -100.
The grid system requires one to make sure that cash in on any movement in the market. To do this one would again enter into a buy and a sell transaction. Now, for convenience, let's assume that the price moves back to level 100.

The second sell has now gone positive by 100 and the second buy is carrying a loss of -100. According to the rules one would cash the sell in and another 100 will be added to your account. That brings the total cashed in at this point to 200.
Now the first sell that remained active has moved from level 200 where it was -100 to level 100 where it is now breaking even.

The 4 transactions added together now magically show a gain:-

1st buy cashed in +100, 2nd sell cashed in +100, 1st sell now breaking even and the 2nd buy is -100. This gives an overall a gain of 100 in total. We can liquidate all the transactions and have some champagne.
There are many, many other market movements that turn this strange "buy and sell at the same time" activity into gains. These will be covered in future articles and are covered in a free grid trading course which is available at the expert-4x.com website for those traders whose curiosity has been aroused.

ForexGen Scalping Enabled Account

Trade and scalp the market [ForexGen] has the pleasure to announce the availability of both Dealing Desk and No Dealing Desk Platforms. No Dealing option provide traders with direct access to the best bid/ask prices through multiple bank access. No re-quotes & No dealer confirmation is the main characteristic of the no dealing option made specifically for “scalpers” and active FX professionals. Absolute freedom to trade during news and economic events. The no dealing desk option allows traders to place entry orders inside the spread! Unlike competing FX firms, [ForexGen offers] traders all the advantage of a “no dealing desk” option.

Advantages of No Dealing Desk Option

* Trade the news without intervention or restrictions * Although spreads may vary in volatile market conditions, they are tried to be kept within the usually limits. * Place scalping orders without intervention or restrictions. * A client-friendly trading environment, No re-quotes. * Ability to place orders inside the spread * Competing rates from multiple banks * Spreads are variable and can move sharply * Ideal for active or professional FX traders

For more information about our current and future promotions, kindly visit this page often or contact one of our customers support agents at promotions@forexgen.com