Advice to novice traders. Jake Bernstein

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Many believe that the Forex trading game. This is partly true, but unlike the game of Forex trading is a real opportunity to earn a living. Investments in the currency market do not require deep mathematical knowledge, but in Analytics trader should understand. One of the most important abilities - the ability to interpret the news.

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Our dealing center has over activities in the international currency market and gives the possibility to earn on sale of currency for both experienced and novice traders (Forex traders). Forecasts of leading analysts of the market, and, including trading robots and signals enable traders in their work.

Jake Bernstein, one of the most famous traders in the industry futures, started trading "by accident", as he said in an interview FWN. Bernstein was a psychologist and responded to an ad in the newspaper about "futures". He started to call the broker, and Bernstein opened an account. "I have achieved quick success, which turned into quick failure," says Bernstein. At the time he did, solely guided by the recommendations of his broker. Then Bernstein "regrouped, took his education and began to engage in trading". Now he is an active trader, but participates actively in the auction only the technical side: outside the exchange, from the screen.

"my work has always been technically oriented, using price patterns, Seasonality and cycles. Bernstein initially "developed my own method and timing. I had no money to bet, so I sold advice." Eventually he saved up enough money and started trading on his own method.

Bernstein is President of MBH commodity advisors company, located in Winnetka, Illinois, and is the author of over 20 books. He publishes a newsletter MBH weekly futures trading letter which has been published without interruption since 1972, and regularly holds seminars on specific topics related to trading activities. Bernstein is also the part of participants all Star traders hotline. "I love teaching. When I teach, I learn something new, and it strengthens my faith in my own methods," says Bernstein. He adds that "among traders spreads so much misinformation that I like to study things in performance that I'm sure."

Bernstein inclined to participate in the most active futures markets: energy, Finance, contracts s&P. but, he said, "I sell everything that is changed in a defined time frame". Bernstein usually avoids such thin markets, as futures for a palladium or orange juice: "I don't like how there are executed orders".

When asked about whether there is erosion of technical analysis, as more traders focused on the same graphic patterns, Bernstein said, "chart patterns - is both a science and an art. I tend to stick with crystal clarity in everything. If the graph looks 10 people, and all came to the same conclusion, I'm in this situation I feel quite comfortable. I wanted to be objective." Bernstein gave the example of the Elliott wave analysis as a model of technical analysis that is prone to greater subjectivity, since the calculation of waves subject to individual interpretation.

This veteran trade opened its own page on the Internet and feels great optimism about the impact of the world wide web on the trading community. "I believe that the Internet will quickly disseminate information and allow more people worldwide to take part in work of the markets. This will expand opportunities for all".

also for the future of traditional stock trading, Bernstein does not believe that electronic trading will soon be able to oust them. "While I'm not sure," he said in relation to forecasts about the inevitability of the sunset the auction in the hall. - I think there's still a place for the trader and the broker in the hall, and if the broker will be effective, have to be necessity." Bernstein, however, has always been a "screen trader", explaining that because of his small stature he can not be a trader in the hall, because "the people there will have the advantage over me." Speaking about the current state of the futures markets, Bernstein expressed confidence in the imminent advent of a new inflationary era: "I believe that we will have one of the largest inflationary trend since the 70-ies. There will be a large increase of precious metals. Already seeing price increases for all grains... energy of mind, and everything points to inflation. We will see interest rates rise and a big bear market for interest rates". tips

Bernstein to beginners: "start with sufficient capital diversifizierung, make deals on increasingly large fluctuations and manage risk."

Tips novice traders from the most successful: | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 |

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