Perseverance is bearing fruit. Joe Stowell

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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.

The initial contribution that would be needed to get started in Forex (despite all the stories, wandering in the Network) is very small. First, you will have the opportunity to trade, to thoroughly examine all the rules and nuances of the market even without any investment (with the help of the demo account no Deposit or Forex accounts). In addition, the Forex market does not have to fear crises and sharp falls. Disaster that make of the enterprising and intelligent millionaire bankrupt, peculiar only to the stock market.
According to independent trader Joe Stowell, persistence and courage are two key characteristics necessary for success in trading. Perseverance has surely paid off for Stowell, who was engaged in trading in your spare time for 20 years before leaving her job of a school teacher and to devote himself entirely to trading.

Stowell first became intrigued by the futures market, when he in his youth worked on the packaging of potatoes. The surrounding farmers involved in trading futures contracts on potatoes from Maine, engaging in hedging or speculation. "I started to follow the quotations in the Newspapers," — says Stowell. In College he tried to find out more about the futures market, but in the early 60-ies this was the subject of a few books. Stowell was able to find in the library a book called "Commodity speculation: the main thing – the income" (Commodity Speculation — With Profits In Mind) which belonged to Peru L. Belvile Dee (L. Dee Belveal). At the time, Stowell had opened a trading account with a broker in Rochester (new York), where he studied in graduate school, and, in his words, "they always send me these brochures about the technical and basic factors, and I didn't have the slightest idea what they're talking about".

BELVIL Subsequently published a second book called "the scheduling behavior of commodity prices" (Charting Commodity Price Behavior), and Stowell bought it. "Soon I began to draw graphs by hand. I tried to engage in trading periodically for twenty years, whenever I managed to save up enough money," he recalls. But only in 1984, Stowell has developed its own pattern "cups and caps" (cups and caps), representing a three-band formation on the technical chart, signaling a short-term transactions. "I thought I finally found a way to bid and benefit from this income," says Stowell.

Stowell started trading based on his technique of "cups and caps", representing a purely technical approach, in 1985 from the account of $ 5,000. "After little more than two years I had $ 100,000. I only withdraw money from the account, never there is no money, " he says. – In 1987, earning 100 thousand, I finally thought that there was enough to do it completely."

He took a biennial vacation in order to begin trading. "When it came time to return from vacation, my heart and soul I belonged to already trading and the markets, so I quit," he says. Since then, its trading and investment has expanded, including stocks of individual companies and gold mutual funds, but Stowell believes the pattern "cups and caps" as the main help.

Stowell restricts their participation in the futures market of Treasury bonds. He likes the bond market, and they fit his short-term trading technique, as they have "good volatility, and there is no need in large fluctuations to get a good return within two to three days",

Stowell avoids the contract, the S&P 500, because "it requires a large guarantee fees, and dependent on the mercy of the trading programs. Night session on bonds is not really any problems, but with currencies is not the case". Often observed during the night of the large currency fluctuations make these unsuitable for futures trading style Stowell. "I realized that if I stayed on one the futures market, attaching to it all my energy and talent, you will achieve greater success. I expanded its trading and investment prospects, taking up shares and gold mutual funds," says Stowell.

the basis of the theory of "cups and caps" lies "the concept that markets go up and markets go down. As soon as the market rises up, I'm looking for a pattern of Cup, consisting of at least three bands. I'm looking at three price at the closing or lows. On the Cup front page will have a higher closing price (or low), the middle band is a lower closing price (or low), and the third band is a higher closing price (or low)", — adds Stowell.

"This structure indicates the opposite trend. As soon as the market saw a revival, and then he stopped, then, if the daily price at closing is below all the lows of the Cup structure, it will provoke a point of sale," says Stowell. "Capucina" structure, in fact, is the opposite. "The market must first raspadaetsya, and then the following fluctuations in the market will be up," he explains.

Speaking about selling to generate revenue, Stowell notes that generally looks for "two profitable prices at the closing, and set foot on the extreme points of the structure." He, however, leaves their stop lessovye orders in place during economic reports, because this would mean "an invitation for the market to disrupt your stop, and you get a huge difference between estimated and actual transaction costs (slippage)". Overall, "when I begin a deal, I understand the risk that you're taking, but the reward does not have clear dimensions. I just aim to pull a piece out of the middle oscillation. I don't do top or bottom".

Although Stowell developed this and other patterns technical charts of trading, studying your hand written graphics for twenty years, he argues that the success of trading also depends on "strict discipline, courage, and perseverance". "Very, very important that the person had perseverance and you must have courage. You must have the willpower to take action when the time came, and all the signals say about it," says Stowell.

He believes that each trader need to determine your level of comfort. If you too many will give themselves to the market, then you will not have enough for other important things, and the market then you'll push". At the same time, according to him, all the novice traders "will have to go through the necessary steps. They will learn about the worries and fears associated with trading, will make mistakes. They have to go through the learning process".

"Every day is a new day. He will always be new. You need to constantly develop their skills. This need all the time to do", — said in conclusion, Stowell.

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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