How I became a successful part time trader

Introduction

I am Joe Chalhoub, a computer engineer, Forex trader and strategy builder. I began trading currencies 3 years ago. The first 3 months trading were complete failure, I remember I lost all my money and I was about to quit, but I couldn’t, I felt if I quit now maybe I am missing the chance of having my own business. So I stopped trading and began observing, studying, analyzing and practicing.

Observing: I began observing the market, what causes movement, reaction, ranging and trading.

Analyzing: I began working with technical and fundamental analysis; how each analysis can predict and redirect the market and how I can use them both for my own benefit. I will talk about these analyses in the following paragraph.

Reading: I bought Forex Trading Books and read them, books explaining different strategies and tactics used by experienced traders.

Practicing: I created free accounts and began trading virtually and each technique I invent I tried it and monitored its performance and validity.

After one year of studies, analysis and practicing trading techniques and after many failure and frustration I reached my own strategy and it is working very well and each month my profit is positive.

Implementation

I reached my targets and I built a successful strategy, but that’s not enough; to make profit I must not miss any opportunity and forex market is full of opportunities because it is the most active market in the world, for that reason I must sit all time and watch and detect opportunities all day long from Monday to Friday.

How to resolve this problem, I can’t sit and observe the market hours and hours, I have my career and my family, so I thought I must program my strategy, let the Information Technology do the hard work for me, and nobody is discipline as a software, so I created an artificial intelligent software which collects data from the market and implement my strategy on this data and detect opportunities 24/24.

This program analyzes fundamental and technical data and generates forex signals which are forwarded automatically to my broker platform where the signals are executed automatically and forwarded also to my website members. All this is done without my interfering, I just run the program, it analyzes and makes its decisions (Buying, Selling or stay aside).

How to succeed in Forex Trading

Five over hundred traders succeed in this business, what differentiate those five successful from the 95 others is one thing, it is the HARD WORK. Forex trading is not an easy business, and who tells you that he can make you rich in one night is one of those 95. Only one thing can make you a successful trader, HARD WORK, and nothing else. Don’t rely on other traders or advisers to help you, rely and have confidence on yourself.

Technical Indicators

Here are a few of the more common types of indicators used in technical analysis.

Gain Profits with the Right Forex Trading Systems:

Forex trading is all about currencies exchange from one person to another with a certain price. When investing in Forex, the game is about gaining profit through selling of currencies at higher price and buying currency at a lower price thus earning profit. So far, there are many investors involved in Forex trading as Forex has one of the biggest financial markets worldwide. With the availability of the internet, Forex has gained so much popularity as it provides accessibility to many investors in the convenience of time and place. Most investors planning to be involved in Forex trading is more involved in Forex Online trading One of the advantages of Forex trading is that you can access to it anytime and anywhere. This is made possible through Forex Online trading. As long as you have a laptop and have internet connection, you can do Forex online trading. This can be very beneficial especially that Forex trading does not have a day’s closure. You can access to the market at 24 hours a day – no pause, no offs.

When doing Forex online trading, you can trade foreign currencies in the convenience of time and place. But what you need most is a system that would help you strategize on prices to maximize profit. This way, you would need a Forex Trading system to guide you on the trade. This will also help you in developing strategies and making steps for you to be profitable in the Forex online trading. Without these strategies you will continue to see yourself fail in Forex online Trading.

There are many sites that offer Forex Trading systems. They usually provide valuable tools to be profitable in Forex trading. Supposed to be, the system will guide you for profitability in Forex trading, but most of the time, it doesn’t guarantee an overtime profit. There is a lot of decision making on your part to get the right results in Forex trading. As the common adage says, “Try and try until you succeed.” This is even true in using any Forex Trading Systems.

Forex Trading As A Home Business:

Forex trading is not just a piece of cake, as some people would like you to believe. A realistic assessment of the forex trading market should be made before putting real money at risk. This forex trading review will try to give you a good overview of the forex market
Trading forex is like many financial trading businesses in this world. What makes it different are the items that are being traded and the complex factors that influence price fluctuations. Forex trading is a speculative activity and one mistake can bring you down. The best thing to do is invest carefully until you have a full understanding of how the market moves.

Forex Trading is being called "today's exciting new investment opportunity for the savvy investor". The reason is that the forex trading market only began to emerge in 1978, when worldwide currencies were allowed to 'float' according to supply and demand, 7 years after the Gold Standard was abandoned.

Forex trading is attractive because it offers unparalleled freedoms. A forex trader can live anywhere as long as he/she is within reach of the Internet. Forex trading is not two strange words for those who are looking forward to making a quick profit in the financial market. Most investors will have at least heard or read about Forex trading. Forex trading is not bound to any one trading floor, but takes place electronically between a network of banks continuously over a 24 hour period.

Forex trading is something that many people do not understand very well. While they hear of the dollar "fluctuation" they never quite understand the process or what it means. Forex trading is not easy however it does provides significant potential for profit, as more and more people are discovering. In this review, I want to provide information to help you decide whether forex trading is for you. If you do have risk capital and the inclination to learn forex trading can be an ideal home business.

The Best “how to” Guides for Forex Trading:

Many traders go around searching for that one perfect trading strategy that works all the time in the global FOREX (foreign exchange/currency) market. Frequently, they will complain that a strategy doesn't work. Few people understand that successful trading of the FOREX market entails the application of the right strategy for the right market condition. Learn how you can select high-probability trades with good entries and exits.

"The 7 Winning Strategies For Trading Forex" covers: Why people should be paying attention to the FOREX market, which is the world's largest and most liquid financial market; How understanding the structure of this market can be beneficial to the independent trader; How to overcome the odds of success; and seven winning strategies for trading FOREX. Grace Cheng highlights seven trading strategies, each of which is to be applied in a unique way and is designed for differing market conditions. She shows how traders can use the various market conditions to their advantage by tailoring the strategy to suit each one.

The Forex Trading Course: A Self-study Guide to Becoming a Successful Currency Trader

A pioneer in currency trading shares his vast knowledge. "The Forex Trading Course" is a practical, hand on guide to mastering currency trading. This book is designed to build an aspiring trader's knowledge base in a step by step manner with each major section followed by a thorough question and answer section to ensure mastery of the material.

Written in a straightforward and accessible style, "The Forex Trading Course" outlines a practical way to integrate fundamental and technical analysis to identify high probability patterns and trades; reveals how to develop a trading plan and appropriate strategies for different size trading accounts; how to control emotions and use emotional intelligence to improve trading performance; and much more. Filled with in depth insight and practical advice, "The Forex Trading Course" will prepare readers for the realities of currency trading, and help them evolve and achieve success in this dynamic market.

Forex Conquered: High Probability Systems and Strategies for Active Traders

Praise for "Forex Conquered": "In this amazing book, John covers it all. From trading systems to money management to emotions, he explains easily how to pull money consistently from the most complicated financial market in the world. John packs more new, innovative information into this book than I have ever seen in a trading book before." - Rob Booker, independent currency trader. "John Person is one of the few rare talents that are uniquely qualified to help traders understand the process of successful trading.

With today's markets becoming increasingly challenging, John has cut right into the essentials and brought forward the much needed tools of forex trading. This clear and well organized publication is a major step forward in helping traders gain an edge. I would highly recommend "Forex Conquered" as a valuable handbook for both aspiring and experienced traders alike." - Sandy Jadeja, Chief Market Analyst and Editor London Stock Exchange, London, England. ""Forex Conquered" is a bold title, but this book delivers the tools needed for successful forex trading. There is no fluff here, just the wisdom of a trading veteran that I have always respected and followed."

Forex Made Easy: 6 Ways to Trade the Dollar

This title shows how investors of every size can profit from today's largest trading market. Newly-developed online trading tools and tactics have helped individual investors smash the barriers between Main Street and Wall Street. Nowhere is this more evident than in the foreign currency market, or FOREX. Recent rule changes have opened this phenomenally lucrative market - formerly reserved for banks, corporations, and high net worth individuals--to independent investors, many of whom start with as little as $300!


"Forex Made Easy" is the first no-nonsense, step-by-step introduction to making the FOREX an integral part of your overall trading program. Pulling back the curtain to reveal how simple and straightforward FOREX trading actually can be, this results-based manual takes you through an easy-to-follow, six-step process to: use unheard-of 100:1 leverage to make the most of your limited trading capital; practice market-proven techniques guaranteed to minimize your risk exposure; and, trade the FOREX market online, 24 hours a day, six days a week FOREX trading has quickly become one of the investing world's hottest opportunities, for all traders and investors, regardless of their size or strategy.