Capital Management

                    Good capital management can get good result so every trader need to apply good capital management so that they can earn more profit in froex trade market and take entry before need to money management. In capital management, apply all the patterns available, so that if one fails, the other would hold. That would be proper lot size calculations to avoid trading higher lots in relation to a small capital, also use of stop loss because it won't allow you loss more than bargained.

                   Capital management is very necessary so that we can still maintain and develop our money already invested, so that in the end we will be able to live a good trading activities without having to burden other. As forex trade is a risky business so that good capital management can gives us good earn in forex trade market so every trader should to see forex news so that they can earn more money in forex trade market.

                  It is a must that capital management related to the strategy we have that of course it can manage the lot we use, what percentage of loss we should be, and where to put the wise taking profit. Without strict capital management we will be over in this business. With it we can also control our emotion because we know the loss and profit target. We will stop trading after we take the profit or get the loss.

How To Become Good Trader

As we all know at the first time we are in this forex business want to earn much money in short time without loosing our money. But in fact many beginners are in trapped in it that always loosing and no profit. Of course this condition makes them stress and work under pressure with the high expectation to get their loosing money back. Days by days, months by months they always do deposit again and again.

Well, in order not to get trapped like that, beginners should understand, learn and practice these knowledge or points on how to be come good traders.

1. Find the profitable system
             There are many traders that is expert share the profitable system out there, as beginners you just take one of them, learn, understand, compare and apply with your own strategy. Practice it ini demo account until you have more profit.

2. Be aware of money management
             Although you have found the good strategy, you must understand about the money management related to the system we have know and obey the rules.

3. Control your emotion (Trading psychology)
             This point is very important because although we have got the good system and suitable money management, many traders are failed in controlling their emotion then finally they have got loss again.

Alright, that the short points that I can explain right now. In another day, if there are some additional explanation I will edit this post for you.

Trading for Short Term Or Long Term?

Some traders are still confusing in deciding whether trading long term or short term. Many beginners trade for short terms like doing scalping with big lot, taking some small profit in minutes, they think that this is the best way to earn money in short time, but in this way when their open position put against the market movement most of them let it get minus until getting the margin call. It's so naif I think.

These are some suggestion for beginners so that they know when they are trading for long or short term.

- Long term
            If you have not enough time to trade because you are employees, busy businessmen, etc, better you take the long term trading. Of course in long term trading traders should 99% understand how and when to enter the market so that they know the best trend to follow and in what price to set stop loss and take profit. Sometimes this trading style need very strict money management and more capital than when for short term.

- Short term
           For choosing short term trading we should prepare the best time, body fit and fresh mental. Those are very important because it will let you ready facing the cruel market.

In some chance I will add this writing with more detail.

Forex for Student

As we all know that forex business interests people with kinds of jobs, community, nations, etc. Including it interests students. Is it ok for students to do this business since they have to focus to study.

I think it will be fine and good for students if they can manage their time between study and do business, but the main focus should be for study. Forex can be run in their spare time that is not disturbing their studying activities.

And also by doing trading in their spare time they can initiate to earn extra income and of course they should have got good plan although they have short time to trade.

Not only for students, kids also are welcome to learn and try trading.

Why do so many traders prefers MT4 to Others?

The question of the title is likely funny to me because we need MT4 to read, do analysis and trade easily. This is the latest and easiest way tool to trade.

Pay attention to the detail explanation below taken from Hanover in forexfactory forum.

• FREE charting
• FREE live data feed
• FREE historical data
  FREE programming language and test facilities
• FREE demo trading for an unlimited time
• 'No strings attached' trading -- there are no volume quotas to meet, no matter which br0ker you open an account with

- MT4 has the largest number of third party written EAs and indicators available. EAs and scripts allow a potentially infinite number of strategies to be automated, and artificial order type combos (straddles, OCO, hedges, scaling in/out, etc) to be created.
(You may be a manual trader, but what about those thousands of newbies who dream about the possibility of EAs providing passive, effortless income.

- Flexible, comprehensive, user-friendly programming language (the screenshots below were created using MT4 indicators). If you can't find a third party EA or indicator, it's easy to develop one (and if you're not a programmer yourself, forums like FF have instituted a culture where it's easy to find a coder who'll create anything you want, for FREE)

- More than 300 different br0kers to choose from. And if you don't like your current br0ker, you can easily migrate all of your EAs and indicators, and without the nuisance of learning to navigate a different platform. Also, more br0kers = increased competition and incentive to provide better terms and conditions for potential customers (traders).

- In 2014, there were more than 14 million MT4 users worldwide. Hence MT4 is well enough established for its culture to have become deeply ingrained in the 'amateur' trading world. And folk -- especially those who are less computer literate, and want to focus on trading rather than IT complexities -- tend to stick with "the devil they know".

Personally, MT4's biggest drawback is the relatively high transaction costs (spread, slippage, etc) charged by their br0kers, when compared to (for example) Interactive Brokers. But that must be weighed up against the savings I mentioned. And of course it's possible to use MT4 for analysis while running an account with an 'institutional strength' br0ker.

I haven't used Thinkorswim -- but ask yourself, does it tick all of the same boxes?
If the answer is "no", then you have your answer as to why so many folk (for better or worse!) use MT4.

And I personally choose MT4 software to do online trading.