Monday, September 17, 2007

A Managed Forex Account Can be Advantageous

Forex (foreign exchange) is a highly specialized form of day trading that deals in the worlds many currencies. To begin trading, a player needs to open an account, choose a trading platform and a reputable broker. Forex brokers offer clients several ways to invest, including a managed forex account.

A managed forex account allows the client to authorize the broke to execute trades on the forex marker. Having a knowledgeable broker handling the transactions can be advantageous. Forex is speculative, with potential for huge profits and, of course, incredible losses. In addition, forex has no central exchange, but is traded over the counter (OTC) via the interbank. Trading centers in New York, London, Sydney and Tokyo make it a global, 24-hour market as well.

Many forex investors are not able to watch the market 24 hours a day. Others simply do not have the desire or the background to keep watch. In the forex market, though, that 24-hour watchdog capability is essential for success. Obtaining and instantly acting upon new information is also essential, which is difficult not only for newcomers to the market, but also for most busy investors. A managed forex account is perfect for such investors, those with risk capital who do not necessarily want, or know how to trade on their own.

In addition to handling the transactions, a managed forex account provides several other benefits. Compared to more traditional account like equities and real estate, a managed forex account requires a lower minimum investment. In addition, the clients money is always available. No lock-up period exists, so the investor can withdraw the balance at any time. Better timing is a great benefit of a managed account. Forex trading is all about time: when to buy, when to sell, when to bet the pot and when to fold. The professionals have access to the latest information on multiple markets, so have greater resources to affect a trade.

A managed forex account can also be advantageous for the traditional investor who seeks diversification of his portfolio. Traditional investments, such as real estate, equities and fixed income tend to be cyclical in nature. Trading on the forex market gives the classical trader an opportunity to make money regardless of the status of the stock market. Unlike equity and fixed income managers, a managed forex account trader can use both long and short positions equally. In forex trading, no difference exists in the profit potential between the two positions. Forex, therefore, is not biased long, but capable of profiting under any market condition. In addition, a professional forex account manager can process information on the fly and take advantage of opportunities as they arise.

Regardless of the level of involvement, an investor wants when choosing a managed forex account, he/she must do some research on the industry to be successful. Brokers can vary in services offered, but they must be registered with the Futures Commission Merchant (FCM), and be backed by a reliable lending institution. Bottom line: The managed forex account must be held accountable.

Are you interested in learning about the Forex Trading System? Our site provides plenty of useful information regarding Forex Trading. by T.D. Houser

2006 NFL Mock Draft

1. Houston Texans - RB Reggie Bush USC Reggie Bush is the best player in this draft. Reggie is probably the most exciting and explosive player I have ever seen. Domanick Davis is a good running back, but he isn't so good that they won't draft Bush. A trade down is a possibility, but I don't see that happening. No matter what, Bush will be the 1st pick.

2. New Orleans Saints - DE Mario Williams NC St. I disagree with this selection, but I believe it will happen. The Saints already have two good defensive ends, but they are so intrigued by Williams that they take them anyway. OT Ferguson is another possibility, although they spent last year's first round pick on OT Jamaal Brown.

3. Tennessee Titans - QB Matt Leinart USC Matt Leinart is the best quarterback in this draft. He played under Titans's offensive coordinator Norm Chow at USC. Steve McNair is in the twilight of his career and evidently the Titans aren't sold on backup Billy Volek. Jay Cutler or Vince Young are possibilities here. I definitely see the Titans taking a quarterback at this spot.

4. New York Jets - QB Vince Young Texas Vince is a perfect fit for New York. They have Patrick Ramsey and Chad Pennington, so there is little pressure for Young to start right away. He can sit for a year or two and then take over the reigns. Ferguson and a trade up for Leinart are a possibilities as well.

5. Green Bay Packers - OLB AJ Hawk Ohio State AJ is the surest thing in this draft. I don't see anyway he can be anything but a great player in the NFL. Mario Williams is also a possibility if available. Linebacker has been a huge need for GB for years now. They can finally sure that unit up with the safest possible pick.

6. San Francisco 49ers - TE Vernon Davis Maryland Davis is probably the best tight end prospect ever, and worthy of this high selection. He is 6'4 263, and runs a 4.38 40. He had nearly 900 yards receiving last year, so don't think he is all measurables. He could instantly boost a receiving corp that is one of the leagues worst.

7. Oakland Raiders - QB Jay Cutler Vanderbilt Cutler is a great quarterback prospect who has almost unlimited potential. Some believe he is actually the best QB in this draft. If Oakland is lucky enough to have him fall into their lap, they won't hesitate to take him. Their QB situation looks medicore with Aaron Brooks as the starter. Andrew Walter was taken in the 3rd round last year, but that won't keep them from taking Cutler.

8. Buffalo Bills - LT D'Brickshaw Ferguson Virginia The Bills primary need is offensive tackle. They luck out and get a heck of a player that could easily be the 2nd overall pick. Ferguson falls this far only because OT is a very deep position, so teams like New Orleans don't feel forced to fill their need in the first round.

9. Detroit Lions - FS/CB Michael Huff Texas Huff is a tremendous athlete who could excelled at free safety in college. What makes him so intriguing is that he has every tool needed to play corner as well. This versatility makes him a valuable commodity on draft day. RT Winston Justice is also a possibility because the their offensive line leaves a lot to be desired.

10. Arizona Cardinals - OT Winston Justice The Cardinals offensive line was horrible last year. Justice can come in and immediately improve this unit in the running and passing games. Justice's stock is on the rise and he would be a great selection if he is still available. If any of the three QBs fall this far, then they would surely be taken here instead.

11. St. Louis Rams - CB Tye Hill The Rams need an upgrade at CB. Tye Hill is the best of this year's class. He blends world class speed with toughness second to none that more than makes up for his small stature. This may seem high, but corners usually go really high. Pac-Man Jones went top 10 last year and he wasn't any better of a prospect than Hill. Other options include Michael Huff if he fell, Jimmy Williams, and DT Brod Bunkley.

12. Cleveland Browns - NT Haloti Ngata Oregon The Browns benefit from Ferguson's slide and Justice's rising stock. Because of these, Ngata slips by Buffalo and is still available at #12. Ngata is a prototypical 3-4 NT who can anchor Crennel's defense for many years. They have a big need a DE, so he might play there for a year or two until Ted Washington retires.

13. Baltimore Ravens - DT Broderick Bunkley Florida St. With the loss of Kemoeatu to the Panthers, the Ravens could use another DT. Bunkley is the total package at tackle. He has good size, outstanding strength, and great athletic ability. Don't be surprised if they take Winston Justice if he is still on the board. Trading up for a QB if any of the Big 3 start falling is a possibility as well.

14. Philadelphia Eagles - WR Santonio Holmes Ohio St. The Eagles' biggest need is wideout after the departure of Terrell Owens. Holmes would provide a solid young tandem with Reggie Brown. I think they should take LenDale White at this spot, but Andy Reid doesn't seem to care if he has a good running back although that feeling might change if he doesn't have the receivers to support his pass happy offense.

15. Denver Broncos - RB LenDale White USC With the loss of Mike Anderson, the Broncos need to add a RB sometime on draft day. While not necessarily their biggest need, picking White makes sense because he is the best player on the board. He could be the thunder to Tatum Bell's lightning. Other options are Bunkley, Holmes, and WR Chad Jackson.

16. Miami Dolphins - OLB/DE Manny Lawson NC St. It is rumored that the Dolphins are going to switch the 3-4 defense. That means they need a rush linebacker to pair with Jason Taylor. Lawson is a tremendous athlete an pass rusher. There is a possibility that they sign Lavar Arrington. If that happens, look for them to take Chad Jackson, a offensive tackle, or just the best available player

This is just the first half of Round 1. Check out the rest at my site.

writer and creator of

Ways To Invest Money-How To Make A Fortune No Matter Which Investment You Choose

Many people today want to know the best ways to invest money today to help them get rich overnight. Unfortunately, rarely is there such a thing. You can certainly can make a lot of money with your investments, but they will often take some time.

Unfortunately, most investors arent willing to wait to make their money. They want it all now. Thats why we see so many investors losing a fortune on the stock market today.

When they invest, they arent doing so for the long term. They just want a quick buck and then get out.

In contrast, the worlds top investors view all their investments (whether it be in real estate the stock market) as a long term cash flow stream. Instead of looking for ways to invest money where they can get in and make a $100,000 overnight, they are only interested if it will provide long term residual income.

The vast majority of investors dont think this way. For instance, in the market, a typical investor might look at a stock and see that its been going up for the past week.

They wont check out the companies financial records or what kind of future potential it has. All they will look at is the stock price. If this is going up, they invest.

The worlds top investors do not do this. They will generally only invest in a company if it has exhibited a long profitable history and its future outlook looks promising. Only then will they put down their money.

This same mentality applies with real estate. Most people think that real estate investors make their money buy buying for a certain price and turning around and immediately selling it for $100,000 more.

While some do partake in this activity, the vast majority will only invest if the long term profits look good. They will usually invest in order to rent it to a tenant and obtain a long term passive income stream.

Therefore, no matter what field you are looking to start investing in, whether it be real estate or the stock market, always remember this: dont get lured in by fast profits. Yes, such events do occur, but more often than not it is simply catching lighting in a bottle. Very often, the investors who you hear about who make a killing overnight just about always lose it all in another investment shortly after.

The real wealthy investors are always looking for long term income in their investments. If it isnt there, they will simply wait and go on to the next. The best ways to invest money is always looking for long term profits, not a quick buck.

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Not Profiting From Forex Yet? Probably It's Because Of This

Many new traders think that profiting from the Forex involves finding a 'secret formula' or trading strategy. So they embark on an exhaustive search for what amounts to the 'holy grail' only to find themselves still searching 2 or 3 years later still waiting for consistent profits.

If that is the case, it is unlikely to be the strategy that's the problem. Profiting from Forex can be done through any number of tried and test strategies. Just purchase a training package from many of the reputable online traders or brokers and you will find them.

The main problem that stops traders from profiting from Forex is in the mind! Successful Forex trading involves a whole range of mind control skills and mental disciplines that take some time to develop.

So if you are still struggling after one or two years of trading the Forex, start to focus your time and energies not so much on searching for a new strategy or trading methodology, but rather on yourself and how you approach and manage trades.

Monitoring Emotional State

How can this be done?

By monitoring our personal responses and emotional state during the course of a trading day.

Once we have a strategy we have confidence in, it is merely a case of waiting until the setup appears where we can employ that strategy.

Here is the problem. The Forex market goes through long periods of consolidation and low liquidity. The anxious trader will desperately look for trading opportunities and deviate from the strategy they have selected.

So things may not be quite right, but it looks reasonably favorable so in they go only to be dismayed when the trade turns against them.

It takes much mental discipline to restrain oneself from going into trades that do not match the criteria the strategy demands.

Once in the trade, mental discipline is again required so the trade is managed properly.

Have you ever found yourself doing this?

You enter the trade after examining risk and profit potential. Your stop is strategically placed 25 pips from your entry point. Price starts to go against you. It gets dangerously close to your stop and you think to yourself, "the trade needs a little more room for maneuver so I'll push back the stop by another 5 pips." Price continues to pull back getting close to your new stop.

The novice trader now thinks, "Just another 5 pips to make sure I'm not needlessly going to get stopped out of this trade" and moves the stop back to 35 pips.

Almost predictably in this scenario, price continues stopping out the trade at 35 pips. The trader has now suffered a loss of 35 pips instead of 25 pips which was originally factored in.

Continuing to trade in this manner makes profiting from Forex pretty remote! It takes mental discipline to stick to the plan!

Winning And Losing Responses

Then come the emotions associated with winning or losing.

The newer Forex trader will feel emotions of elation on getting a winning trade. In fact, the whole day can appear bright and cheerful with just one winning trade.

On the other hand, a losing trade can put the same trader into the depths of depression or despair. The day seems grim and hopeless leading to flawed judgment on the next trade which also goes wrong and compounds the attack on the trader's level of confidence.

It takes mental discipline to keep the emotions in check trying to avoid feeling either elation or despair on the basis of a winning or losing trade.

The disciplined trader approaches order entry almost mechanically realizing there will be winners and losers and that the strategy, if adhered to, will in the end win out!

So how can we develop this tough mental condition and strong mindset if ever we are to see the day when we are actually profiting from Forex?

Just as the trader will keep monitoring the charts, watching price action and candle formations during the course of a trading session, the same monitoring activity needs to be applied to the mental and emotional condition.

Self-Monitoring Sessions

This can be achieved by constantly asking questions of oneself. For example:

  • What am I feeling right now?
  • Am I in a relaxed state or am I anxious, agitated, or frustrated?
  • Am I desperately looking for trading opportunities when no high probability trades are setting up right now?
  • How did I react after my last trade whether it was successful or not?
  • What can I learn from that and how can I better handle my emotions next time?
  • Am I enjoying the experience or am I nervous of the markets?

Many sports participants and Olympic medalists spend huge amounts of time and resources on getting the right mindset. Coaches work with them to develop mental discipline and mind conditioning so they perform well under pressure and become aware of their own emotional state and feelings.

Often, it is not so much the level of skill or physical strength that makes the difference between the winner and the rest, it is competitor who has mental toughness who has the edge!

Focus On Mindset

So if you have been trading the Forex for one or two years already with mixed results, why not focus on your mindset.

Select a strategy that has a tried and tested track record by other traders and professionals who are already profiting from Forex, and then spend most of your time and energy developing the mind skills necessary to get into the small percentage of traders who actually make money on the Forex!

To learn how to preserve your mental and emotional resources in addition to your account equity click here:

Do you know the important lesson Mohammed Ali teaches us about Forex trading? Read it here:

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Forex Trading - 5 Deadly Reasons Forex Traders Lose Money

In Forex trading, there are five common reasons traders lose money when developing and implementing their Forex trading strategy.

If you can avoid making these errors, you can enter the elite 5% of online Forex traders that make big consistent profits from the markets.

Heres the five common mistakes that you need to avoid when youre trading in the Forex markets.

1. They Work Hard but dont Work Smart

Many new online currency traders work hard - but they dont acquire the right Forex education.

FOREX trading attracts some of the cleverest people in the world - these traders are smart, and think that they can win simply because theyre clever.

Being too smart however, can be a bad trait to have in Forex trading.

A clever trader tends to see the market the way they want to see it - and they dont see the reality of how the market really is.

Do you want to make money or feel clever? The market wont accommodate both - so decide before you start trading.

If you want to make money, leave your ego behind, and simply focus on the main objective of Forex trading making money.

If you only focus on making money, youll out perform a clever trader with an ego, whos obsessed with beating the market.

2. They dont keep it Simple

As you can gather from point 1, being clever doesnt mean youll achieve success in online Forex trading. Not only should you leave your ego behind, you should also concentrate on trading using a simple system. Many Forex traders think the more complicated their system is, the more successful the system is likely to be however, this logic is incorrect.

Simple systems tend to be more robust than complicated systems, in the face of ever changing market conditions.

When developing your own Forex method, keep it simple - and youll have a better chance of making consistent Forex profits.

3. They dont accept Responsibility

When youre trading currencies, its tempting to follow a guru whose made money - or claims to have made money.

The Internet is full of Forex education you can buy for $100 or so - and they all claim itll make you rich - but this is not the reality of currency trading.

The only way to succeed is to rely on yourself no one else can give you success. If you cant take responsibility for your actions - dont trade in the currency markets.

4. Theyre too subjective

In Forex trading, most traders like to use technical analysis, and study Forex charts.

Studying charts can make you a lot of money - however you must be aware of the trap that many traders fall into - being too subjective.

Avoid methods that need a lot of subjective analysis, such as Elliot Wave and cycles instead use indicators that define trends.

Good indicators to use in conjunction with trend lines are:

Moving averages, and momentum oscillators - such as RSI, stochastics and Bollinger bands.

This will keep you disciplined, focused, and allow you to trade without your opinions and emotions getting in the way.

5. They lack Patience

Many traders get impatient when Forex trading, and want to achieve success too quickly.

They start trading using one method, get frustrated with it when it doesnt make money - and then switch to a different method. They then end up like a dog continually chasing its tail.

Bad periods are normally followed by good trading periods - and profits, (if youre using a soundly based Forex trading system) so you need to stick to your plan.

Stop changing systems and have the patience to follow your Forex signals with discipline.

The X Factor Your Trading Edge

Anyone thinking of getting involved in Forex trading should ask themselves this simple question: What advantage over the majority of unprofitable Forex traders do I have, that will make me big consistent profits?

This is your trading edge if you cant think what it is - you dont have one!

A trading edge is something that all successful traders have.

Now youve read this article, youll realize that getting an edge in Forex trading is not as complicated, or as hard as many traders think.

You simply need to work smart not hard, focus your Forex education in the right areas and youll give yourself the chance to achieve consistent profitability.

The good news is that anyone prepared to learn Forex trading the right way, can become consistent and profitable.

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