Money Making Games 1.0 beta

How to (not) lose in FOREX trading

2011-07-14T09:57:00.000-07:00

Think about this fact:

Thera are millions of traders Trading trillions of dollars each day. Just like me. Just like you. All individuals like you and me with their own opinions and motivations.

Now to say that you can tell what this huge diverse mass of people are going to do in a few hours is ridiculous - you can't !

All short term volatility is random and prices can and do go anywhere in a day, support and resistance is meaningless and you can apply any technical tool you like it wont help - the data is too short to be useful.

When your mind starts being positive, positive things start happening. That's why I believe new traders should have small achievable targets. When you have many small wins and some small losses, rather than some big wins and many large losses, you tend to be more confident with yourself, and your trading. That realization alone, is the biggest factor, for how I've rescued my account from margin-call, from just a few dollars left.

Don't overtrade. If you are trading several markets and not having any success, cut back to trading one or two markets. You can follow fewer trades more closely and document your success or failures more easily. Plus, your trading account won't be drawn down so quickly.

Keep a detailed trading diary. If you keep a good trading diary, you can go back and see if there is a common thread among your losers--and your winners, and possibly make the proper adjustments.

If you are not trading that many markets and still racking up losers, take a break from trading for a while. Gather your thoughts. You may want to "paper trade" for a while to get your confidence back. Then, if you are still losing on paper, you will want to look for other trading methods.

If you are losing money trading, DO NOT try to make a big home-run-type trade that will get you back to even or the plus side in a hurry. In fact, do just the opposite. Make smaller trades that risk less capital, until your performance starts to turn around and you can resume your normal asset allowances for trades. Successful traders survive the rough waters by hunkering down and being conservative.

Exhibit patience and discipline. I've preached about this before. Are you following a trading plan that you devised before you put on the trade? If not, you should be. You are not shooting from the hip (no exit strategy in place) once a trade gets initiated, are you? If so, that could be part of your problem. On the patience issue, are you impatient? I've talked to successful position traders who may only trade a few times a year, because they wait for what they feel is that "perfect set-up" to occur. If you are a position trader (as opposed to a day trader), you don't have to be "in the market" all the time. Wait for the good trades to develop and don't chase markets.

Be confident. Have faith in your trading methods. And if you don't have faith in your methodology, why don't you? If your methods are really not successful, find something else. Read some of the many books out there by the successful traders, and how they have traded successfully. But be cautious of the person who wants to sell you some so-called successful trading method for big bucks. (See the next item on hard work.)

Work harder. Don't expect to produce winning trades if you are not working very hard at trading. Do you know well the fundamentals of the markets you are trading? Even if you know technicals well, you should have at least a good understanding of a market's fundamentals. Here's an example: Let's say the charts and technical indicators look bullish for corn and it's the day before a major USDA report. Smart traders likely won't initiate a trading position in corn the day before a big government report is out.

Losing again and again

2011-07-14T09:55:00.000-07:00

Win a little, lose a lot.

http://traderwannabe.zulutrade.com/

Do you know about Zulutrade?

2011-07-04T13:18:00.000-07:00

I found out it is easy to make money through ZuluTrade. Really fast to get 5%-10% in a week. If you don't believe me, and I suggest that you don't believe me so easy, you can always open a demo account. It's free!

You better analyze the performance of those signal providers. They are amazing! But be carefull to pick the right one. If you're new, learn from ZuluTraders, examine how they make profit here.

I wish I could help you more. Some other time I will write in more details. Wish me to achieve my 5000% profit yearly and better yet, let's do it together!

FreeMillionAutoSurf, this is quite good!

2009-11-20T15:36:00.000-08:00

Have you heard of Traffic Swarm?

2009-10-17T22:32:00.001-07:00

Try the search form here below:

Promising PTC

2009-10-17T21:42:00.000-07:00

Looks like an innovative-new ptc!

Why do you read this?

2009-10-09T18:43:00.001-07:00

I HATE LINKBUCKS!

Buxwiz is a scam

2009-10-01T18:48:00.001-07:00

Buxwiz is definitely a scam. The site is no longer can be found! I am fine, because I have not invested money yet have cashed out 2 dollars from them. This is the risk of joining ptc.

bux36

2009-09-20T16:21:00.001-07:00

Have I posted this?

Is buxwiz a scam?

2009-09-20T15:55:00.000-07:00

Many sites claimed buxwiz was a scam. That was on the early stage of buxwiz. Yes, this is relatively new PTC. But, I have been paid! So, I think that was too early claims.

The fact is, nowadays, they seems growing fast. The ads served is increased. The rented referrals click is also increasing. This is a good momentum to join.

Privacy Policy

2009-09-17T04:37:00.000-07:00

Privacy Policy for joesoef.blogspot.com

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Some of our advertising partners may use cookies and web beacons on our site. Our advertising partners include ....
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These third-party ad servers or ad networks use technology to the advertisements and links that appear on joesoef.blogspot.com send directly to your browsers. They automatically receive your IP address when this occurs. Other technologies ( such as cookies, JavaScript, or Web Beacons ) may also be used by the third-party ad networks to measure the effectiveness of their advertisements and / or to personalize the advertising content that you see.

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You should consult the respective privacy policies of these third-party ad servers for more detailed information on their practices as well as for instructions about how to opt-out of certain practices. joesoef.blogspot.com's privacy policy does not apply to, and we cannot control the activities of, such other advertisers or web sites.

If you wish to disable cookies, you may do so through your individual browser options. More detailed information about cookie management with specific web browsers can be found at the browsers' respective websites.

Be a reseller!

2009-09-14T22:33:00.000-07:00

Can you sell a hosting service? Try this:
http://www.resellerspanel.com

Simple and quick, only takes 10 to 15 minutes of your time.

Forex Broker

2009-09-14T18:39:00.000-07:00

Currently it is very easy to start trading. What we need is a minimum amount of money, and paypal account. However, trading is very risky. Don't start it without trying using practice trading account.

Here is a good, very helpful broker review: http://www.dailyforex.com/Forex_brokers_reviews.aspx

I found out that eToro is very easy to use, a good start for beginner like me.

Diagonal Triangle

2009-09-13T17:53:00.000-07:00

I think the picture speaks louder than words.

When the pattern forms a triangle with convergence, it indicates reversal of trend is coming. Cool. Logically, it is about forces of buying vs selling and the question of "who is stronger"?

Free Hosting - My Favourite

2009-09-13T08:57:00.000-07:00

So far this is the best!

DonkeyMails

2009-09-11T19:48:00.000-07:00

just joined:

Express Paid Surveys Review: Is Express Paid Surveys a Scam...?

2009-09-09T20:07:00.000-07:00

http://www.reviewopedia.com/express-paid-surveys.htm

Express Paid Surveys is another survey site that has hit the internet with lots of promises and intriguing offers. Express Paid Surveys offers its members access to a database of surveys along with instructions on how to quickly complete them.

Express Paid Surveys provides a database with over 400 listings of companies that offer surveys on a range of products and services. This database along with a 45 day guarantee is provided to Express Paid Surveys members.

Despite their great sounding offers Express Paid Surveys is no different than any other bogus paid survey site. They have a bunch of fake surveys that don’t pay out any real money and only claim that you won prizes that you need to register for. Once you register they will sell your email address and still leave you without a prize.

I have used a bunch of these paid survey sites and I can tell you that Express Paid Surveys is no different than the others. They charge a membership fee that takes you to a misleading database with tons of pitfall surveys that take you to unscrupulous websites. I recommend avoiding Express Paid Surveys at all costs.

Is EmailPaysU a scam?

2009-09-09T10:50:00.000-07:00

from http://www.reviewopedia.com/emailpaysu.htm

EmailPaysU is a website that promises to pay money for clicking on email delivered advertisements. This is becoming a popular method for earning a bit of extra cash and more and more of these get-paid-to websites are popping up.

After signing up with EmailPaysU you can make money by reading and clicking on the links sent to your email box or by visiting their homepage for current ads. You can also refer others to this website and earn $0.50 -$1.00 and a small percentage of your recruits' earnings. They also offer you a $10 sign up bonus, but you can't cash out until you earn $50.

The problem with these types of websites is that it can take an extremely long time to reach the cash out level. You earn .02 cents for reading emails sent to you and half a penny for those on the EmailPaysU website. Depending on your email frequency it can take up to 2 years to reach the cash out threshold and a total of over 2,500 emails.

As you can see this isn't something that will make you rich or even provide a steady side income. EmailPaysU also provides a variety of other methods to waste time like playing online games and signing up for other survey websites. Just be careful of what you join since some cost money.

There've also been some complaints from former members regarding payment delays. Some have had to wait close to two months after requesting their payments from EmailPaysU.com. Their advertisements say that you can make money for the holidays, but with the amount of time it takes to earn a few bucks and these payment delays there's no chance of that happening.

BuxP

2009-09-09T06:53:00.000-07:00

Pivot Points

2009-09-08T08:02:00.000-07:00

Pivot points, a technique developed by floor traders, help us see where the price is relative to previous market action.

In a few words, pivot point is a level in which the sentiment of traders and investors changes from bull to bear or vice versa.

Why PP work?
They work simply because many individual traders and investors use and trust them, as well as bank and institutional traders. It is known to every trader that the pivot point is an important measure of strength and weakness of any market.

Calculating pivot points
There are several ways to arrive to the Pivot point. The method we found to have the most accurate results is calculated by taking the average of the high, low and close of a previous period (or session).

Pivot point (PP) = (High + Low + Close) / 3
Take for instance the following EUR/USD information from the previous session:

Open: 1.2386
High: 1.2474
Low: 1.2376
Close: 1.2458

The PP would be,

PP = (1.2474 + 1.2376 + 1.2458) / 3 = 1.2439

What does this number tell us?
It simply tells us that if the market is trading above 1.2439, Bulls are winning the battle pushing the prices higher. And if the market is trading below this 1.2439 the bears are winning the battle pulling prices lower. On both cases this condition is likely to sustain until the next session.
Since the Forex market is a 24hr market (no close or open from day to day) there is a eternal battle on deciding at white time we should take the open, close, high and low from each session.

From our point of view, the times that produce more accurate predictions is taking the open at 00:00 GMT and the close at 23:59 GMT.

Besides the calculation of the PP, there are other support and resistance levels that are calculated taking the PP as a reference.

Support 1 (S1) = (PP * 2) – H
Resistance 1 (R1) = (PP * 2) - L
Support 2 (S2) = PP – (R1 – S1)
Resistance 2 (R2) = PP + (R1 – S1)

Where , H is the High of the previous period and L is the low of the previous period
Continuing with the example above, PP = 1.2439

S1 = (1.2439 * 2) - 1.2474 = 1.2404
R1 = (1.2439 * 2) – 1.2376 = 1.2502
R2 = 1.2439 + (1.2636 – 1.2537) = 1.2537
S2 = 1.2439 – (1.2636 – 1.2537) = 1.2537

These levels are supposed to mark support and resistance levels for the current session.

As already stated, the pivot point zone is a well-known technique and it works simply because many traders and investors use and trust it. But what about the other support and resistance zones (S1, S2, R1 and R2,) to forecast a support or resistance level with some mathematical formula is somehow subjective. It is hard to rely on them blindly just because the formula popped out that level. For this reason, we have created an alternative way to map our time frame, simpler but more objective and effective.

We calculate the pivot point as showed before. But our support and resistance levels are drawn in a different way. We take the previous session high and low, and draw those levels on today’s chart. The same is done with the session before the previous session. So, we will have our PP and four more important levels drawn in our chart.

LOPS1, low of the previous session.
HOPS1, high of the previous session.
LOPS2, low of the session before the previous session.
HOPS2, high of the session before the previous session.
PP, pivot point.

These levels will tell us the strength of the market at any given moment. If the market is trading above the PP, then the market is considered in a possible uptrend. If the market is trading above HOPS1 or HOPS2, then the market is in an uptrend, and we only take long positions. If the market is trading below the PP then the market is considered in a possible downtrend. If the market is trading below LOPS1 or LOPS2, then the market is in a downtrend, and we should only consider short trades.

The psychology behind this approach is simple. We know that for some reason the market stopped there from going higher/lower the previous session, or the session before that. We don’t know the reason, and we don’t need to know it. We only know the fact: the market reversed at that level. We also know that traders and investors have memories, they do remember that the price stopped there before, and the odds are that the market reverses from there again (maybe because the same reason, and maybe not) or at least find some support or resistance at these levels.

What is important about his approach is that support and resistance levels are measured objectively; they aren’t just a level derived from a mathematical formula, the price reversed there before so these levels have a higher probability of being effective.
Our mapping method works on both market conditions, when trending and on sideways conditions. In a trending market, it helps us determine the strength of the trend and trade off important levels. On sideways markets it shows us possible reversal levels.

http://ezinearticles.com/?Pivot-Points-in-Forex:-Mapping-Your-Time-Frame&id=86749

bux36

2009-09-07T16:00:00.001-07:00

Forex Trading

2009-09-07T03:58:00.000-07:00

So, you wanna make some money via Forex trading. Before you go further, let me warn you that 7 (or some even say 9) out of 10 traders keep losing money in Forex market; while the rest of the 10-30% work freely at home and earn millions annually.

How come?

What makes the difference is that the top 30% are either those with insider news, OR those with skills and knowledge.

It is no secret that the foreign currency exchange (FOREX) market is a market full with risks that you may lose your hard-earned money in a fraction of second. Yes, that's right! If you wanna make money in Forex trading, you either have to build up the network with so-call insiders (which seems a wasteful of time and energy to us); OR, this one better: educate yourself well enough.

Now the first tip:

How do you prevent the high loss?

First it is important to trade positions that you feel comfortable with. Don’t race forward thinking that you will immediately become a professional trader. Increase the size of your positions moderately as you receive more experience in the markets.

In addition, due to the daily fluctuations it is advisable to have an account that can withstand the daily volatility. Even if you decide to open small positions at first it is easier to start with a larger account for the following reasons:

• A higher balance allows you to withstand the daily fluctuations.
• The whole account is not tied up on one trade allowing you to take advantage of further
opportunities.

Neobux

2009-09-06T15:55:00.000-07:00

This is an excerpt (and I add some tips) from http://klventures.com/blog/neobux-review-rating-10-out-of-10/

NeoBux is the very best, a benchmark of Paid to Click programs that most new PTC programs try to achieve.

They pay with a low payout level, a minimum of 2 USD. But you have to employs some strategy there.

They have ads that refresh every day and if you check during the day there will sometimes be additional ads.

I found 4 to 6 ads most days for free members. Most of the ads are worth $0.01 at the free level but occasionally they are worth more.

NeoBux offers a couple of features that can really help anyone who does not have a lot of money to invest in programs. You can transfer you balance from your clicks to a couple of areas of the program.

You can use your balance instantly to rent referrals.

The referral system for this site is great if you are interested in renting referrals. The way that the system works is that you are able to rent referrals for between $0.20 and $0.30 per month depending on your membership level. These rented referrals will now earn for you with every click that they make. You can renew the referral on these members or choose not to at the end of the month. Another great feature is that you can set the rented referrals for auto pay where there rental fee comes out of the referrals 1st click of the day and saves you 10% on the rental fee.

There is some restriction for a new member to get direct referral. At the early weeks since you registered, you can not promote and get direct referrals, but they give you discount for renting referrals. My advice is don't miss this opportunity. Use your paypal, invest some of your money there. It will boost up your earning in return.

A basic strategy that works very well with Neobux is as follows:

1. Choose a time of day that you can click ads and eventually manage your referrals at the same time everyday.

2. Click all available ads everyday (when you get referrals this is necessary to earn from referral clicks).

3. Utilize all free methods of advertising to gain any direct referrals. Talk it up with your friends and relatives. Put a tagline on your e-mail signature. Post in forums. Use free traffic exchanges.

4. Once your account balance reaches $2. Transfer this money to your rental balance and rent 3 referrals. It is only $0.90 to rent the referrals but you will need the remainder to properly manage the referrals.

5. Put the autopay function on.

6. If a referral of yours has not clicked in the last three days and has a click average of less than 1.8 then recycle it ($0.08) and get a new referral. If they have a click average of over 1.8, I will give them 7 days before I recycle them. I will give those with an average of over 2.0 the full 14 days to return and click just because I would hate to recycle a great referral just because they were on vacation for a week.

7. Whenever, one of your referrals goes below 20 days before next payment pay to add another 30 days. Below 20 days, the autopay function does not work and you will not get the savings for that referral.

8. Every time your account balance reaches $1 transfer the money to your rental balance. At first when you are only making a couple of cents per day it is important to keep enough in your rental balance to maintain your recycling activity because you can only transfer in $1 increments. Once you can complete this transfer and have at least $2.40 in your rental balance rent another 3 referrals.

9. Continue this process until you are making a $1 a day in your account balance. At this point you can begin renting in bigger chunks of referrals every 7 days. Never rent a number of referrals that is greater than 33% of your existing totals as these will become difficult to manage through recycling with your earnings.

10. It will take a while but continue the above listed process until you reach 500 referrals. At this point stop renting and just maintain your referrals. Accumulate the earnings until you can pay for the upgrade to golden.

11. Once golden, maintain your referrals as before. Every week continue to rent referrals until you hit the 2000 refs mark. Any money that you are not sinking into referral maintenance or renting is profit for you.

Ready to join? Be my referral and let's discuss more!

downlinerefs

2009-09-06T15:28:00.001-07:00

buxwiz

2009-09-06T15:21:00.000-07:00

NeoBux

2009-08-08T18:01:00.000-07:00

NeoBux is cool. It's a paid to click with innovative features.

I wonder if you want to discuss this money making game with me here. Or maybe there's some place to learn about the strategy?