About 'i want to learn forex'|...You Must Do If You Want To Attain Financial Freedom Through Forex Trading by...simple steps I have laid...money. 2. Accept Your Learning Curve Unless you...
Many investors have full-time jobs which are not in the finance industry, they invest in the stock market or in bonds, treasuries, ETFs, Forex, commodities, etc., as a way to supplement their income. That's all fine and good, but a lot of folks have found limitations in being able to trade exactly how they want because they are at work and can often be late to make an important move. Sometimes this can cost them a huge loss. Another issue is that many employers have their technology departments deny access to certain websites such as those used for online trading. This results in the investors' inability to access the tools needed during the day without using their own laptop or other wi-fi device. Of course, persons seen doing this at work will most likely be frowned upon. There is a way around this. For you seasoned investors, this may be common knowledge until we cover more advanced methods later on. The method I allude to is called placing "conditional" or "contingent" orders. Assuming the online broker you use, has this option available, and that you have access to use it, you will find this extremely useful. What is great about contingent orders is, you are able to set up your strategy in advance by entering variables in which trades will occur automatically without you- based on conditions you set up. This means the trades will only occur if the conditions you want are met, they are in fact contingent upon them. Let's say you control 100 shares of Google (GOOG) that you bought when they were only $400 each and now they are worth $595 each. Let's also suppose you believe that GOOG is going to take a downturn and drop 50 points over the next three months and you want to sell half of what you own to take a nice profit when it rises another 5 points to $600. You don't need to watch the market every minute for the opportune moment; and if you are unable to for the reasons mentioned previously, you still don't need to worry. Log in to your online broker and find the area to set up your contingent orders. For example: You may select the ticker symbol, then select that you want to sell, then select that you want to sell as a limit order (not market order), then set up the contingencies. Think of this as like an "If-Then" scenario. "If Google (bid or ask) price becomes $600, then sell half (50 shares) (as a limit order)." Of course, the actual order will probably be set up using drop-down menu selections. But the verbiage used here is to explain what you are essentially telling the broker to do for you. If the conditional parameters are not met (over the period of time you also select), no trade will occur and of course there will also not be a broker fee either. If in the example above the conditions are met, the sale will be executed and you will have taken the profit on those 50 shares, (in this case would amount to: $10K before commission and taxes.) You would also still have the other half (for this example) still invested for better or worse. There are many ways you can use this technique. You may choose to do so on some or all of the stocks in your portfolio. You may also choose to design more complex strategies such as "butterfly-spreads" or "condors", etc.. but these we will save for another time. So, try using conditional orders and see how you like them. Remember, the best part is that you can arrange for trades to occur without your immediate involvement, and without jeopardizing security by using your company's "public" computer. You can rest assured that if set up correctly, the trades will also be "safe" since they can ensure you don't lose more than you are willing to. More from this contributor: What to Learn About Money and Investing How to Buy Stock Options How to Price Stocks |
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Welcome to exciting world of Online Forex day Trading. Use this site to learn Forex day trading and systems and if you want, you can trade alongside me.
This blog dedicated to myself and for those who are still learn to trade forex. i want to share my knowledge about this bussiness and i hope you will share too.lets learn...
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