Have you always dreamed about becoming an investor? Or better yet, a Day-trader?

If yes, certainly you need to read this. First of all, You need to have your mindset ready to start.

It is not enough to desire something. My advice is to set your mindset, conquer your psychology first. If You don't know what I mean when I say this, buy a good course about "How to get the Mind of the riches" or any great course regarding The Law Of Attraction, or the correct name, "The Law of Beliefs".

My second Advice is: "Do not Waste Your Money on any of the thousands, "Online Courses". You will not, learn anything and you will waste your money. I wasted $4000 on an internet course.

Find a Course where you are with the Instructor, side by side. You and your Mentor only. This is the only way, where You will learn successfully, because your Mentor will find, if You catch it or not, and You can ask all the answers in the world. Remember, it is your hard earned money what you are investing, and you want full and total attention.

If You have a friend, or a relative that does it for a living, and only when He proved you, He 's been doing it with success, ask him If He allows You to be next to him, and watch how He trades.

Not all the time, You will get a positive answer, because trading is an alone profession, and You need total Focus on this discipline.Isolation is a good advice when trading. But if He made a good trade, and call off for the day, He can teach you a methodology.

There are 3 Steps in my opinion to be ready to start Day-trading, one is watching the markets and look for entries, the second one is to Paper-Trade and the third one is to use a Simulator. That is what I did, I found a great mentor, but before anything, I certainly set my mind above everything If you want to learn more about the psychology of trading visit me at http://www.traderofsouls.com. Thank You.

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The growth of 24 hour electronic futures markets has been a boon. We can trade from wherever we like whenever we like.

There is a downside, though.

Many markets have lost the opening thrill. Gone is the stampede of traders getting through the turnstiles at opening time. All we see is steadily increasing volume as traders straggle to the office and fire up their computers.

Fortunately, there are holdouts. Take the grain futures. They trade gentleman's hours; 9:30am to 1:15pm in Chicago. (True, there is an electronic after-market, but it's lightly traded, and closes at 7:15am.)

For a grain trader, 9:30 is the most exhilarating time of day. The market opens in a flurry of hectic activity. Volume and price movement generally peak in the first few minutes of the trading session.

It is possible to make a perfectly good living trading just the first 30 minutes of grain market sessions.

Price surges in one direction, holds for a tantalizing few seconds, then continues onwards or chases off in the opposite direction.

The question is how to harness this excitement and ride it to a profit? There is a dearth of valuable information. We stare at our chart as the first candle forms, and wonder what to do, which way to jump, where to place stops and targets?

We can see the charts from previous days, we know the longer term trend and where the major support / resistance levels have been. We know yesterday's closing price.

If the long-term trend is up, maybe we want a pullback to a support level before placing a long trade.

If the market gaps up a few points above yesterday's close, we might expect a price dip to "fill the gap" before moving back up.

You might simply rely on the formation of high probability patterns on the price chart to provide a signal. That's what I do.

Battles at support and resistance levels tend to be mercifully short during the fast-moving open. Price might move quickly down to support, bounce, re-test, and decide. If support holds, the price pattern looks like a "W", and if it fails it looks more like a lightning bolt.

With the grains, whatever happens, you are unlikely to be kept waiting long!

Click here to see some interesting charts with a video of a typical opening session in a grains market.

David Bennett trades US commodity futures from his home on the Gold Coast in Australia. He provides coaching and mentoring services for people wanting to start trading for themselves. Visit http://www.12oclocktrades.com/ to read more futures trading articles.

Article Source: http://EzineArticles.com/?expert=D_Bennett

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A friend of mine has made an interesting observation lately: most novice traders prefer to think, and to talk, in dollars rather than in percent when it comes to their losses or profits. I think he is right, I have notices times and times again how neophytes really struggle to think in present. They talk about how they lost $6,000 or made $7,000, but so what? $6,000 on one million dollar account is a chop change. What is interesting, many so-called trading gurus (but essentially charlatans) are taking full advantage of this inability of beginners to think in percent when trying to sell them their advisory services and trading systems.

Here is what you can typically hear at some trading seminar or read on some futures trading web site: "Open 5K account, start trading S&P 500 eminis futures". Yes indeed, to buy or sell one contract it only requires $3,600 margin or so. Thus 5K freely allows trading one contract. Commission on trading S&P emini is small, literally couple of bucks, so you can be in and out of that market many times a day. S&P 500 eminis on a typical day can move 10 to 15 point up or down. Each point move is equal to $50 dollars. So, a charlatan would say: "If you capture only 4 points out of these 15 you would be making $200 a day, and I will teach you how".

Precisely because this sales pitch is done in dollars not in percent people get easily seduced by this kind of talk: anybody can put up 5K account, and $200 a day is a lot of money for many people, yet it does not look astronomical, it does not appear to be "too good to be true". And so people believe it: catching just four point move out of daily 15 sounds doable to them.

However, let's put this $200 in percent term. On $5,000 account 200 bucks a day mean 4% per day or 80% per month or 1155% per year. If you keep making $200 per month and if you do not withdraw in one month you will make enough money to be able to trade 2 contracts simultaneously, in 3 months you have enough to trade 4 contracts simultaneously and so forth. In less than a year your account will be worth 1 million dollars! Again in percent term, 80% per month mean 1155% per year on compounding basis.

Now, if you express it in percent, it does look astronomical. Now it does smell like too-good-to-be-true proposition: nobody makes that much profit, not even Warren Buffet! Such percent return means that starting with 5K you can become richer than Bill Gates just in a few years!!

So, why people do not catch that lie? People hate thinking in percent. They avoid thinking in percent! You smack them with this 1155% a year right into face, but they would ignore and keep thinking: "$200 a day is doable and it is cool". Don't be one of these fools: love percents - hate dollars!!

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When it comes to dealing in stocks and investments, absolutely nothing beats insightful experience. That is the reason why fund managers and investing gurus become more highly regarded as time passes. Celebrated investors like Warren Buffett see signs that no others see because experience has taught them to look for them until it became second nature. For soon to be traders, though, this does not sound very encouraging. It may look like that one needs to take his / her lumps before having a shot at making a revenue. Yet that doesn't need to be the case concerning those at Traders International. Started by Afshin Taghechian, Traders International has incorporated understanding and experience of its founder and senior staff in more than a decade of trading readily available for all its members. By doing this, the learning curve for new traders becomes less daunting.

Traders International is the present outward exhibition of its founder's passion for buying and selling and his vision to open its doors to everybody. It began in an effort to aid his colleagues and friends in their own personal trading activities and has now broadened into a worldwide force in trading. It happens to be presently amongst the quickest expanding trading educational training readily available, with its standing growing through its exceptionally recognized Traders International Market Experts System. Enjoying the simplicity of accessibility that online trading offers, Traders International performs its tutorials and support activities in real time over the internet. So no matter where you are, the company and its entire selection of assistance products and services will there be for you.

Traders International often conducts live workshops over the web to demonstrate to traders how to use their technique and profit from it. Once you understand it on your own, they also supply continuing assistance with improvements and live trading coaching from their skilled market experts. The experience they supply for their members is unlike any other.

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I am a great proponent of utilizing your intuition, instinct and 'gut' feelings.

However, In trading - and day trading especially, your instincts can be wrong most of the time

...and almost all the time when you are trading scared or under pressure. Your instincts will be wrong when you are feeling emotional and you are 'second guessing' your rules or your plan.

When you look back over a period of time and ask yourself 'If I had done the opposite of what I did do in the last 1-2 weeks, or if someone had tricked me into buying a put instead of a call or a call instead of a put - 'my trading account would have done wonderfully!'

What does that tell you?

It does not tell you that you are stupid or don't know what you are doing.

'So, what does that tell me Karen?

It tells you that you are normal!

Almost all traders have felt like this at some stage in their trading life and it was telling them the same thing as it is telling you NOW.

Trading any market is about human emotion. The markets driver is emotion.

You must have trading rules and a trading plan and most importantly, you must be able to stick to your rules and plan under ALL trading conditions.

Sounds easy huh?

Well, if you have been trading for any length of time, you know that it is easier said than done. Particularly in the early stages of your trading journey.

Once you start trading scared or nervously - you will continue to make mistakes if you do not stick to your trading plan.

When you are trading under pressure - it will feel like you are doing the right thing by veering away from your plan and the rules that you have set down.

If you can look at your recent trading history and can really say that if you had have bought a put instead of a call or a call instead of a put - then you instincts are indeed probably wrong.

You can't trade off gut feel you have to trade off rules - let you intuition be your back up guide but never trade on instinct, intuition or 'gut' alone.

Again, I stipulate.

Trade off rules!

Stick to your plan!

'So, Karen, what are the keys to sticking to my plan and keeping to my rules?'

I hear you say.

Understanding yourself and how your mind works, is key.Having processes in place to best manage your time and how you trade, is key.Having faith and belief in what you are doing, is key.Utilizing the power of your unconscious mind to ensure your beliefs are aligned with your conscious desires, is key.

Are you sick and tired of the emotional roller coaster of trading and want to be able to stick to your rules?

Want to know more?

Karen Oates is a seasoned options trader and mindset coach who excels at helping traders understand themselves and the stock market by using a 'keep it simple' trading plan and the mind tools of success through mastery of mindset, focus, behaviors, beliefs and strategies.

Karen is certified as a:
Master NLP Practitioner
Master Results Coach
Performance Consultant
Specializing in Advanced Subconscious Reprogramming and Master Hypnosis

Check out how you can use the best tools and techniques to become the successful trader you want to be! http://www.outofmymindtrading.com/

Article Source: http://EzineArticles.com/?expert=Karen_Oates

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"Trading losses are awful!" "Losses are terrible!" I can't have a loss!" "When I have a trading loss, it just shows I'm not a good trader, husband, father, provider,... or person!"

How many of us have such thoughts about trading losses? Most, I would imagine, though we never talk about them. We may not even acknowledge them, but they are important. They cause us to cut winners short, hold onto losing trades, avoid pulling the trigger, and even over trade by entering a marginal position to make up for that last loss.

Impact of Thoughts on Losses

How we think about losses is important. Our thoughts about losses influence our trading behavior. They can affect how we see ourselves as traders and our self-esteem. Thinking about losses in such an unconstructive manner can create a negative trading spiral and actually compound our losses: We think losses are just dreadful. In trying to avoid them, we commit defensive trading behaviors (cutting winners short, letting losers run, etc.). These erratic trading actions may cause even greater losses, further reinforcing the notion that losses are bad. Self-esteem and trading confidence sinks, setting us up for more of the same on the next trade...

The reality is trading losses will happen continuously throughout your trading career. They are inevitable and unavoidable. With practice and more trading experience, losses happen less frequently, but you cannot eliminate them completely.

Reasons for Losses

Losses occur for two primary reasons: we make errors and the market.

We are human and trading is complex. Trading is very demanding on our mental and emotional capacities; it is very easy to make mistakes. Also, the market constantly changes. A trade setup that worked yesterday may not work today because the market is different. Trading is based on probabilities, meaning that there is always a certain percentage of loss in any trade setup.

5 Tips

Accept Losses. Instead of viewing them as awful, recognize that they are a natural part of the game. No one wins 100% of the time. Every professional trader had losses. Give yourself permission to have losses and agree to the probabilistic truth of trading.

Commit to Trading Well. Even when you might be thinking negative thoughts about a potential loss, be steadfastness in following your trading plan. Manage your trade by what you see in the price movement and indicators, not by what your mind is saying to you.

Use losses to learn more. Learn about yourself as a trader and about the market through your losses. Are you doing things that you can improve on when you have a loss? Did the market show you an indication that the trade would not work? Use this information with future trades.

Trade with an Edge. Make sure all your trade setups have a probability of working and an expectancy of producing profit. Write them down in your trading plan and work only your plan. This is the only way you will generate profit consistent with your edge.

Study market context. Any trade setup will work better in some market conditions than others. Know the context in which your setup works best. This will improve your edge and reduce the frequency of losing trades.

Reviewing all trades made is a good way to understand market context and learn from losses. To help in this regard, I'd like to invite you to claim your FREE instant access Trader's Daily Review download from http://www.TradingPsychologyEdge.com/DailyReview

You will get a Daily Review sheet (pdf) you can use to improve your trading each day. You will also get a practical download explaining how to effectively use your Daily Review.

From - Dr. Gary Dayton - TradingPsychologyEdge.com

Article Source: http://EzineArticles.com/?expert=Gary_Dayton,_Psy._D.

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I had that same idea a few months ago.

I started buying very expensive software programs, also spent months trying to make a decent web-site, had tremendous difficulties until I set my Mindset, and everything became easy, and finally I built 2 websites.

I thought, I will start making money as an extra income in a short period of time.

I started to put Google ads etc, other ad links and after a few days Google banned my ads. I never had a clear response of what happened, so I understand that the only way to succeed in a short period of time, is being a programmer or have a lot experience in online marketing.

Thanks God, I picked another profession that gives me 50 times more than any of the best marketing gurus, or the most visited site can make.

What Am I talking about?

The Markets! Yes! The Last Vestige of Capitalism.

I am a daytrader, and it is the most fascinating profession in the universe.Nothing gives more money than trading or investing the markets. Nothing provides, more comfort than trading in your home, at the time you decide and for as long as You want.

Your income doesn't depends, on How much people or traffic goes to your site, or how many clicks you made on Saturday etc.

It depends on YOU!

Here, You create your own reality.

Your income is unlimited. Some days You make thousands of dollars others less money and others you lose money.

But those loses are always minimized, so at the end of the day or at the end of the week you are always in profit.

Do not see a loss as a bad thing, I just see the losses as the expenses of any other business, and each loss I encounter, increases my odds of being right.

If you believe that the markets are too risky, then you are living with the most negative and dangerous beliefs in your Mind.

If you don't get rid of all that Negative Junk, that was imprinted in your subconscious mind, you will leave the fears and limitations of others.

I sincerely invite you to know more about this amazing world, and to discover as well how to get rid of all the Negative Beliefs that are preventing you to succeed in life.

When you do that, I will guarantee you that you will bless the day you found this article!

Give yourself a chance and read my website. You have nothing to lose and a lot to gain!

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So you have decided to give trading a go. You have made the decision. Awesome!

You are committed and focused. Even better!

You are working hard at understanding the market, all the technical indicators that might best help you, you are watching and listening for all the 'tidbits' that are out there for a beginner and many other things that are deemed necessary to become a good trader.

...but you are still not seeing the results that you had expected.

Or are you? Maybe you are.

You see, it's not really about what you consciously decide to do or even consciously expect. It's not about how much you know. It's not even about how experienced you are. It's about what your unconscious mind expects or wants for you. It's about how your unconscious and your conscious mind are aligned to getting the results you want.

You say you really REALLY want to be wealthy and financially free and you have looked at trading to provide that for you.

Awesome.

What about your unconscious mind? And the beliefs and habits that your unconscious mind controls?

Your unconscious mind is responsible for almost 98% of everything that you do, and your real beliefs are held deep within the unconscious. Your financial results reflect your beliefs around money, wealth and your ability to earn and accumulate wealth. They say that you will never earn more than your financial self image. Your self image - how you see yourself - is everything in relation to money and the results you are getting in your trading.

'So', I hear you ask, 'what can I do about that?'

Work on your Self Image!

'So', I hear you ask, 'how do I do that?'

Well, you need to work at the unconscious level to delete the old beliefs and change the behaviors that are no longer serving you and replace them with new empowering beliefs and habits. The secret is to have your unconscious beliefs match your conscious desires in regards to your financial success and trading results. You really do need to believe it before you see it!

There are many techniques to work with the unconscious mind to make these changes, some work more quickly and easily than others. Here are 3 ways you can make changes to your beliefs through the unconscious mind: Meditation, Affirmations and Visualization.

If you get started on just one of these today - you will see the results.

However, if you utilize some of the products and services that are available from someone trained in technologies that easily work with your unconscious mind, you will see the results even faster and have much more powerful results!

Karen Oates is a seasoned options trader and mindset coach who excels at helping traders understand themselves and the stock market by using a 'keep it simple' trading plan and the mind tools of success through mastery of mindset, focus, behaviors, beliefs and strategies.

Karen is certified as a: Master NLP Practitioner, Master Results Coach, Performance Consultant, Specializing in Advanced Subconscious Reprogramming and Master Hypnosis

Check out how you can use the best tools and techniques to become the successful trader you want to be! http://www.outofmymindtrading.com/

Article Source: http://EzineArticles.com/?expert=Karen_Oates

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If you want to trade in the Foreign Exchange market, know that most people who enter this business endeavour end up losing their money. It is a high risk investment. Of course, since the risk is high, the possible rewards are high as well. This is why even though ninety percent of those who have tried trading in this market end up losing money, still more people are coming in. So what separates the winners from losers? It's simple really. The ten percent of people who were able to successfully trade are those who have undergone the best forex training.

To become a good trader, you have to be trained properly first. You can't immediately jump in to trading foreign currencies without understanding the market and honing your skills. This is the biggest mistake any beginner can make. Invest a little bit more on a training program; and not just any training program, go for the best forex training there is. Now the question is what are the features that you should look for? What makes a training program the best?

Avoid Distracting Training

There are a lot of training programs offered both in the internet and in classrooms. Whatever you choose, you have to make sure that there are no distractions in the learning environment. It is best to choose an online training program so that you can be at home and comfortable. However, if your home is noisy, then that is not a good place to learn. You are studying complicated concepts, and if there are distractions, then you will have a hard time learning about trading.

Teaching you about Risk

As mentioned earlier, the risk involved in trading in the Forex is high. Because of this, it is highly recommended that you take a training program that at least teaches you about the risks involved. The best forex training will not only tell you about the risks involved in trading, but it will also teach you how to manage it.

Experience it First Hand

A great feature of the best forex training program is hands-on training. Your training should include a program that will simulate real life situations when trading in the market. This will give you a feel of how the market actually looks and performs. At the same time, you will also be able to hone the skills you are learning about trading in the Forex. With this, you will quickly pick up the important aspects of trading. It also gives you the chance to try out different strategies without having to invest money.

Qualified Trainers

Last but not the least, the best forex training should be conducted by qualified instructors. You should not go for a training program ran by people who haven't even made a good earning through Forex trading. Look at the background of the instructors and ask about their credibility. But, you shouldn't just take their word for it. Ask them for account statements to prove that what they say they've achieved is true.

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People who are looking at investing in stocks or learning how to day trade are really looking at a way to make high yield investments. This could be to help them have more money for their retirement, to help them pay down debt or to simply have more cash flow. The sooner you start to learn how to make smart investment decisions, the sooner your investments will start to pay off. Generally people who looked at investing in the stock market only really considered investing in shares. There is now a number of different investment options available since the internet took off. Lots of people are looking at different day trading instruments to help them reach their financial goals.

The choice that you make, shares or day trading, will really come down to your risk comfort level and also the amount of free time you have to focus on your investing.

Day trading can be a really good investment vehicle. It can provide you fast returns and you can also use leverage to help increase your profits. However, leverage can also increase your losses. If you are looking at day trading this is some of the benefits you have available -

No overnight positions. This means that if you open a position today, most day traders close that position the same day. This means that they can sleep calmly at night, not having to worry about what the market will do overnight when it is closed for trading.

Cheaper brokerage. When you trade shares the brokerage per trade can be very expensive. Some people (depending what country you invest in) can pay up to $30 to get into the market and another $30 to get out of the market. This means that as soon you as you decide to buy a share, you need to make at least $60 just to break even. When you are day trading you can have little to no brokerage.

For example, if you trade forex there is no brokerage. You are given a spread which means that if you buy a pair of currency and it is currently trading at.5000, your broker will give it to you at a different price, it may be.4998 or.4999, each broker has a different spread.

If you trade mini future contracts you can pay as little as $2.50 to get in, and another $2.50 to get out.

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There are lots of different high yield investments that people can choose from, but the most popular and rewarding would have to be day trading and investing in stocks. Choosing to investment in these types of instruments certainly takes a certain person. If you don't like the thought of any form of risks with your investments this definitely wouldn't be an option you would want to consider. Although both of these types of investments present certain risks, the risk can be controlled and managed properly. I have invested in both of these types of markets and I have to say I definitely prefer day trading over normal investing in stocks.

People who invest do so with long term outlooks on their investments. Day traders look at a small window of opportunity to quickly make a profit and then get out of the market and look for another opportunity. These trades can last from as little as a minute up to a number of hours.

This means that once you close all your positions for the day you no longer have to think about your trades for the rest of the day. With long term investors, they can lose sleep at times because the market can do anything overnight, so a position that you had that was in profit say 20 or 30 percent, can easily turn in to a 20 or 30 percent loss overnight. The tough part to swallow about that is that you can't do anything while the market is closed.

The brokerage costs for stock trading can be a lot more expensive too. I know people can pay up to $60 a round trip when buy shares. They are charged $30 to buy the stock and another $30 to sell the stock. Depending on the day trading instrument you use, you can little to no brokerage. When I trade mini future contracts I only pay $5 a round trip and when I trade forex I don't have to pay any brokerage at all.

With day trading you will be placing a larger number of trades on any given day, week month or year than what you would with investing. This means that you can see how much your trading has improved over a good period of time like 6 - 12 months. Because you have such a large sample size with day trading, it is a lot easier to make tweaks to your system. With investing, it is a lot harder because you may only place a small amount of trades to analyze.

If you currently have your funds tied up in other high yield investments you may want to consider your options day trading to get a better return.

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Day trading can be, one of the many alternatives to generate money without the need of having a large amount of capital. You only need a couple of grands, depending the broker's margin calls, and that's it. Some brokers require $2000 and others $5000. Find one that suits your needs. There are plenty of options out there.

The best part is the broker when you enter the futures markets, uses "Leverage" It means they lend you the money. You need a deposit "margin call" as a deposit. This is a great thing, because you are doing nothing more than what the banks, are doing...Using other's people money. This is one of the many secrets, people don't know about this incredible and generous world. If you are incredulous about the markets, or You think this is not for You, then think it again.

Making money is not uncommon in the markets, it's very common, the problem lies in not giving it back. And that is only related to YOU. I want you to succeed too, I want everyone to be able to live their lives as they please. Not following orders or following schedules. This is what I call, "The Last Vestige of Capitalism", and You can be part of it. There are Things, You must never do to have a long life in this business. But, if you put the effort and the discipline, the reward is absolutely amazing and a total blessing.

Remember, You create your own reality!

Blessings.

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That is a good question. There are many people however in this day and age that are turning to other methods than the status quo to make money, in particular investors who once left their money in equities but now find that there are other avenues in which they can earn better returns. One of those markets is the Forex capital markets and Forex day trading.

Forex has been around for many years but it has only been recent that retail traders, people like you and me and your friends, can sit in the comfort of their homes and make money. I am talking about real traders, not people that buy a software program to do the trading for them. Most of these traders lose money and exit the currency trading game early.

I like to talk about "real" people who become traders because it is not something someone is born with anymore than someone is born with the skill to hit a baseball. It is a skill that needs to be acquired however, I believe that with the right direction and time on the side of the person interested in trading that anyone with effort and concentration can become a true Forex trader.

One of the best ways to learn to trade in the Forex market is to start with an understanding of momentum. Most people have seen movies or real pictures trading in the "pits" of Wall Street or some other exchange. Obviously there are times when trading in the pit is slow and not much is going on. However, things start to change when something happens economically, geographically or otherwise, that affects where people have their money invested. Forex like any market is people and money. When people see that they can make money, they move and when people see they can lose money, the move. One is greed, the other is fear.

Regardless, momentum is created and you can see it as traders buy and sell in the pit. The same thing happens on a computer screen without all the yelling, screaming, pushing and shoving. Seeing, feeling, predicting momentum in the Forex market can be learned and when it is traders who understand it begin to make money.

That is the crucial aspect of trading Forex making money. People who want to become traders can do just that simply by understanding concepts like momentum.

Paul Dean is the owner of You Learn Forex and has worked extensively with RSI, the Relative Strength Index developing new insights with trader/programmer, David Moser.

He has written three eBooks: RSI Fundamentals: Beginning to Advanced, RSI Trading Examples Vol. 1, and RSI PRO:The Core Principles.

In addition, he has developed a successful indicator called the RSI Paint Indicator that was adapted from a standard RSI to alert traders all 4 RSI signals.

http://www.youlearnforex.com/. Visit the site to download a free eBook on the RSI PRO Forex Trading System and the 4 RSI Trading Signals. Videos are available on YouTube.

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