July 26th, 2010
LTG GoldRock
Ken Buncharoen
From my perspective, country’s economy and news have influence on price of currency. I will always try to follow news of currency pairs that I trade, determine impact of each indicator and predict short term trend from minute to week trend. I like to trade major currency pairs with low spread like AUDUSD, EURUSD, USDJPY and USDCAD.
Therefore apart from taking trades from LTG’s indicators, I also trade high important news. I like to trade high important news because it can move price by 20 to over 100 pips within few minutes. If you can predict the trend, enter and exit the right time you can get good return in short time. There are many good Forex’s high important news analysts available on internet that you can Google.
One of recent high important news is on CAD Employment Change and Unemployment Rate. » Continue Reading »
June 30th, 2010
GoldRock Insider
It is an absolute fact that we all begin trading because we want more money in our life. Whether that is $50 a week or $5000 a week, the expectation is that we will make money. So what should be a realistic expectation for a trader entering Forex and how much is too much or too little or none at all when you trade Forex.
One thing that I have learnt through the school of hard knocks is that there is no question all budding Forex traders who join LTG GoldRock have a high expectation on their success in the first 12 months. The most common question I get asked is. “How long till I can make my educational investment back”. Ok a fair question however the answer lies in your commitment to learn to trade and becoming a student of the markets. Traders always overestimate how much money they are going to make in the first 12 months however underestimate what they can achieve over 3 to 5 years if they actually learn the skill and art of trading. A high expectation (which is a healthy thing if the expectation is realistic) is often met by disappointment in the first 3 months which dampens the long term opportunity as the money is not coming fast enough. Especially if they are joining to fix a financial situation. If you are considering joining LTG GoldRock for this reason then please don’t join.
I met one of my absolute very best graduates for coffee at my local coffee shop here in Noosa today. His name is Jimmy and he is honestly today living the life of his dreams. I am so proud of him!! » Continue Reading »
June 28th, 2010
Forex Classroom
One of the amazing aspects about trading and making money is that humans often think that to make money the system must be complicated and sophisticated. Certainly most people over complicate trading and think that they need to look the goods with a heap of screens, indicators and often alarms. I’ve seen and heard it time and time again that a trader has come up with a new indicator that’s going to blow the market out of the water, only to find that it fails miserably when it comes to trading it with a live account.
One aspect of trading that you must understand and take on board RIGHT NOW is this. The market is only a two horse race. Buyers and Sellers are the only horses in this race and the price is either going up or down. How simple is that. Yeah I know what you are thinking, it has to be more complicated than that, ITS NOT! Simply looking at a trend and placing a trade with a trend has the probability of continuing in the direction of the trend rather than reverse and go the other way. But why is it humans consistently try and build systems and indicators that over complicate things. The more complicated you make things the less likely you will make money, period. » Continue Reading »
December 21st, 2009
Life of a Trader
I had a conversation with a Wall st trader recently and it went something like this……
Sometimes when I consider what tremendous consequences come from each trade I make, I am tempted to think there is no such thing as a small one.
The small trades we make. They aren’t small, they can often turn out to be the most memorable or disastrous, and we remember them. We don’t think like this when we enter a trade or have the foresight to see what the result will be, but we always talk about the winners and privately the losing trades affect us emotionally.
» Continue Reading »
