Forex trading looks simple yet few succeed – 95% of new traders lose their money and only 5% win. This may seem an odd fact when anyone has the potential to learn forex trading.
The answer is most traders simply learn the wrong forex education and this article will give 4 tips to get the right education and win.
Firstly the growth of the internet has led to a lot more information becoming available to forex traders and some of it is very good – but most of it is junk and will simply ensure you lose and this leads us to our first tip.
1. Be wary of vendors selling education on the net
Most of them make me laugh for $ 100 or so I can get a system to make me regular profits every day, trade with 80% accuracy or even make me a millionaire – all for a few hundred dollars!
Do not buy them – they will not help your forex education.
There simply marketing guys not traders – if they were, they would shut up and trade for themselves, if making money was as easy as they say they would not need me or you.
2. Do not learn the wrong Knowledge!
There are many myths that have beenpetrated on the net mostly by vendors and let's start with the largest one – forex day trading works.
No it does not, day traders do not make money – period
All short term volatility is random, so it can not – that's why you never see a day trader with a real time track record of profits.
Scientific theories are a great way to make money, another stupid myth.
If markets moved to scientific theory, we would all know the price in advance and there would be no market, yet new traders still learn junk theories like Elliot wave and Fibonacci numbers, lose and wonder why.
3. Get Knowledge from the real pro's
You can do this simply by going to Amazon.com and you can get some really good forex education from traders who have walked the walk, rather than simply talk the talk.
For about $ 100 or so you can get some great advice (see our top 10 books for traders) and get them. They will inspire you and give you a good solid grounding in what it takes to be a successful forex trader.
This is an investment in your forex education that is well worth the money.
4. Work Smart Not Hard
Forex education involves working smart not hard and learning the right knowledge.
If you want to learn forex trading ALL that you need to build a successful system is available free on the net.
See our other articles, there is some great information on technical analysis, formations and indicators and it's all free.
You do not get rewarded for the effort you put into forex trading you get your reward from being right with your forex signals – nothing else. All you need to do is get the right info and you can become a successful trader.
CONSIDER THIS FACT
In 1983 Legendary trader Richard Dennis to prove that traders could be taught took 23 traders with no trading experience and taught them to trade in 14 days.
These traders went on to make Dennis $ 100 million dollars! The story is told in "The way of the turtle" and also Market Wizards – Get these books and you will see that Dennis made them focus on the RIGHT education to win with no filler.
Now you may not make as much money as the turtles but anyone can learn to trade and learn to win if they focus on the right education – you just need to find it digest it, apply it and hopefully this article will have pointed you in the right direction – Good luck.
The terrorist attacks on the World Trade Center have provoked in-depth discussion and study of existing security measures, their deficiencies, and how to enhance security to prevent similar terrorist attacks from occurring in the future. Biometric technology has risen to the top of the list as a possible solution. The government is not the only entity exploring biometric security systems. The financial services industry see biometrics as a way to curb identity theft. Biometrics are intrinsic physical characteristics used to identify individuals. The most commonly used biometric is fingerprints but others include, handprints, facial features, iris & retinal scans, and voice recognition.
Soon after 9/11 there were calls for the issuance of national ID cards containing biometric information on an RFID chip implanted on the card. The argument is that national ID cards will increase security by identifying individuals with their unique fingerprints which are much more difficult to counterfeit than standard photo ID cards. There is also a movement toward biometric passports. It looks like biometric passports are coming soon. National ID cards may follow.
Biometric identification is nothing new. Humans have been identifying other humans biometrically since the beginning of time. You recognize people you know by their facial features, their voice, and other biometric features. What’s new is introducing technology into the mix that compares a given biometric with a stored database of biometrics to verify the identity of an individual. An individual place their finger on a fingerprint scanner and the image is compared with the database to verify the person’s identity. Promising as it is, biometric technology has not been without hiccups but biometrics are advancing quickly and becoming more and more prevalent in security systems.
Fingerprints are the most commonly used biometric identifiers. The National Institute of Standards and Technology (NIST) conducted a study that showed single fingerprint biometric systems had a 98.6 percent accuracy rate. The accuracy rate rose to 99.6 percent when 2 fingerprints were used and an almost perfect 99.9 percent when 4 or more fingerprints were used. The study results show that biometric identification is nearly perfect which is not surprising given the uniqueness of human fingerprints.
The US-VISIT program, which is an acronym for United States Visitor & Immigrant Status Indicator Technology, currently requires foreign visitors to the US to present a biometric passport containing 2 fingerprints and a digital photo for identification purposes before being granted admission to the U.S. Of course the biometrics are compared against a vast network of government databases full of known and suspected terrorists and other criminals.
On the surface biometric technology may sound like a panacea but it’s use has raised significant privacy concerns that need to be addressed. Here are six major privacy concerns: storage, vulnerability, confidence, authenticity, linking, and ubiquity.
Critics wonder how the data will be stored and how vulnerable it will be to theft or abuse. Confidence issues center around the implications of false positives and false negatives. Can the biometric data be used to link to other information about the individual such as marital status, religion, employment status, etc.? And finally ubiquity. What are the implications of leaving electronic “bread crumbs” to mark a trail detailing every movement an individual makes?
Until these issues are addressed, privacy advocates will lead a charge to resist biometric technology claiming it as a way for the government to assume a “Big Brother” type of rule as described in George Orwell’s novel 1984. But protest as they may, it’s likely national security concerns and the ability of biometric systems to enhance the security of US border and possibly prevent another major terrorist attack will win out over privacy concerns.
Are you looking for some family vacation ideas? Consider a trip to the Grand Canyon for your next family vacation. There are no words that fully describe it and pictures can not capture the incredible beauty of this 277-mile long, one-mile deep wonder. The Grand Canyon is located approximately two and a half hours north of Phoenix, in Northern Arizona. July is the warmest month for the Grand Canyon, but because of the higher elevation, the average highs are only 84 degrees, while the lows dip down to around 50. Compare this to Phoenix where the average high this time of year is 104 degrees.
There is lodging at the Grand Canyon, but space is limited and generally more expensive than nearby hotels. Williams, Arizona is about 30 miles south of the Grand Canyon, and is a great little town to stay in while exploring the area. It offers a wide range of accommodations and restaurants, beautiful Ponderosa pine trees, clear, crisp air, and a variety of outdoor activities.
The Grand Canyon Railway leaves from Williams and offers several classes of vintage train service to the Grand Canyon. This is a great way to get from Williams to the Grand Canyon, and journeying to the canyon by rail offers a fun and unique travel experience for your family. Along the way, enjoy 65 miles of Grand Canyon Country views and Old West entertainment.
The most popular tour of the Grand Canyon is by car and bus around the South Rim. It is open year-round and features easily accessible trails and outlooks. It also has shops, hotels, and several restaurants. In addition to viewing the stunning scenery, visitors can hike, camp, take mule rides, or go on a rafting trip. For those hiking to the canyon floor, be aware that temperatures in July and August can be substantially higher than those at the rim.
Whether you visit the South Rim, West Rim, North Rim, or some other part of the canyon, it will certainly be a memorable trip for your entire family. Even if you have seen hundreds of photos in the past, there is no way to really appreciate the beauty of this area until you actually visit it. The Grand Canyon is truly magnificent. Have a safe and wonderful trip!