Still Neo didn?t believe in himself but when agent Smith captured Morpheus and a member of his crew suggested to pull the plug so the agents of the Matrix won?t get access to Zion, something in Neo changed and he began to believe?

A little further down the path of the One, Neo ?accomplished miracles? because he learned how to believe in himself fully and completely. And remember Neo had a mentor who believed in him beyond any doubt and who taught him how to use his mind to defeat the Matrix and its dangerous agents. Neo?s mentor, Morpheus, showed him the path and helped him empower his mind, yet Neo walked the path to his own success after he started believing in himself and mastered his own mind.

Perhaps you were wondering, yes and what has this to do with trading the Forex market?

?Know Thyself?

Forex trading or any trading for that matter is a mind game in the first place. Some people spend a lot of time and efforts perfecting certain trading skills and knowledge like reading the charts and data, entry and exit skills but any normally intelligent person can learn these skills, they are the easiest part of the trading game. They are no doubt necessary tools to your Forex success but they don?t make the biggest difference between a really successful Forex trader and the one who is not successful. So what does make the difference?

Let?s ask the question: what is your goal in trading the Forex? It is to make money. Period!Surely while you?re making the money and great profits you can have fun too and you should but what you need are specific mental attitudes and strengths, that is if you want to be a successful Forex trader. These mental states are an asset that will help you in many other situations and contexts of your life.

As my Forex mentor told me, the major three mental and emotional frames of mind that characterize the majority of successful FOREX traders are:

1. Discipline &amp Passion
2. Confidence &amp Courage
3. Patience &amp Smart Persistence

We?ll touch upon all three briefly to make it as clear as crystal to you so you succeed in the Forex market.

Like trading a Pair of Currencies these mental and emotional mindsets go hand in hand.

Discipline &amp Passion

Discipline, say the most successful Forex traders, is really important! It helps you be more effective in planning your trades and in sticking to the good plans you established before entering the trade. Always have an action plan for stop and limit levels for the trade before you enter it, your analysis should cover up the expected upside and downside.

Passion means commitment and love for what you do. It is your passion for something that keeps you going, improving, constantly learning (willing to buy excellent Forex courses from experienced and successful traders, remember Morpheus mentoring Neo) and persist beyond the ups and downs of the business. You need to know why you are trading the Forex because it is an awesome opportunity that you have to take, so develop a passion for it. Simply do what it takes to be successful, learn from the best.

A word of Caution: Never mistake your ?Forex passion? for emotion that you might feel while trading the Forex, when trying to enter a trade without using clear and sound entry/exit indicators and rules.Have fun, learn, and stay tuned for future developments and grow as a person in strength and character in ?your Forex business? while remaining emotionally detached when you get in and out of a trade. If you do, you are bound to incredible success in the Forex trading business.

Confidence &amp Courage

Successful Forex traders believe in themselves and their abilities to learn and grow, to acquire more competence learning from a mentor.There is no reality only perception, the Matrix can trick you but you can have your own special Matrix inside your mind that empowers you with an unwavering belief in yourself!

Have the confidence and courage to stick to your plan and stay with your rules even if others are doing the opposite. Keep your vision (end result) that you can make it in the Forex market in your mind until you are successful in it.

If you experience a situation where you know exactly how a currency pair will go and have a sound trading plan, go for it! Sometimes people fail to follow their own good plans because all sorts of emotions get in their way, emotions like greed and fear. Stay calm and act with confidence and courage otherwise your planning, analyzing and information gathering will be totally useless to you.

You become more competent when you educate yourself about the markets and learn from successful traders. Self develop: ?Know Thyself?, get into the habit of monitoring your emotions and questioning your limiting beliefs so that your mind works for you and not against you. Don?t take things too personally, if you make a mistake then consider it to be valuable feedback so you become more successful, never a failure!

Patience &amp Smart Persistence

An Indian wisdom says: ?Life is always right!? we say: ?the market knows much better than you do!?

Learn to listen and read the signs the Forex market is giving you. Learn how to wait, observe and only enter a trade when it is the right time to do so, before you can reap the profits.

It can be hard to wait before your Forex trading screen and not jump into action but The successful FOREX trader will enter a trade according to the direction of the prevailing trend or will wait until a new trend shows up and establishes itself. The waiting ranges from a few hours to days or even weeks before a winning trend appears.

even if you day trade and are not a long-term or position trader, you still are well advised to keep impatience from ruining your profit chances.Also be patient means you stick with winning trades. But be most impatient with losing trades.

Practice ?Know Thyself? and continue learning your Forex trading from the best and we are sure you will be a successful Forex trader. You will be on the path of Neo, the One himself!

Karima Begag is an Internet Entrepreneur with special interest and ?passion? for Forex Trading and Knows it is a Life Time Opportunity to generate income for anyone who is willing to give it a chance. For outstanding Free Forex Courses and E-Books go here: http://www.forexprofitsecrets.com

Trading of foreign currencies through brokers is known as forex market. Movement of currency is the basis of forex exchange depending on market conditions. Process of dealing with the forex market to investors is called forex trading. Objective of every investor here is to profit. Opportunities of becoming rich or bankrupt via forex trading are speculative, because changes in forex rate are unexpected.

As time goes by, the impact of engaging in forex trading business is becoming more and more powerful especially to those who focused and risk their lives in this kind of gamble. Thus, every business individual or company at the back of this venture must not only be knowledgeable and responsive. There are so many qualities to own, ideas to adapt, and techniques or approach to apply in order to include your self in the series of successful forex trading investors.

Recently, many forex trading companies are providing best forex trading systems for their million clients. These systems can be accessed online, even without using your phone or going out somewhere else. In short, everybody deserves an effortless way of gaining profits at home. Online systems like these, provides historical display where you can back-check previous market exchange conditions. Having this is so simple. They can be downloaded directly to your PC, providing you a tutorial training based on video that will enhance your skills step by step. After this, why not imagine yourself profiting more in the biggest currency market in the world.

In fact, best forex trading system can be successfully achieved by examining first what is applicable or ideal for you. In choosing the best, you need to examine what is the difference between two kinds of forex systems ? discretionary and mechanical forex trading systems.

Discretionary systems uses good or bad experiences, direct perception or immediate apprehension on input and outputs while programs coming out directly from mechanical systems following systematic procedures and technical studies are categorized under mechanical systems. Which of the two can fulfill your preference? It?s your duty to find out.

Know your personality first. If you think you can accomplish something based on the given standards of your systems, fearing yourself to be placed in risky situations, then it is recommended that you?ll use a system that belongs mechanically. On the other hand, if you?re flexible enough to adapt in any kind of forex trading conditions, then discretionary type of system is ideal for you. With this kind of set up, you need to plan what to execute next.

The ways you choose the best forex trading system actually do matter. At the end, you still need to consider several significant points before having one. Determine the compatibility between the system and your personality otherwise you will end up waiting for nothing. Have one for trial and two as a second option is possible.

Discover the best forex trading system recommended by Ricky that enable him to earn $545 per day working only 2 hours a day.

The typical site where Microsoft Exchange 2003 is installed has an existing mail system that provides messaging services to its users. Migration is the act of moving or copying the data for all users from the legacy (existing) system to the Microsoft Exchange 2003 system. Migration is performed so that all customers can be serviced by the Microsoft Exchange 2003 system, not simply those new subscribers following the installation of Microsoft Exchange 2003.

Migration is the most complex facet of any deployment project. Even though this document provides a framework to follow for migration, no two migrations are exactly alike, due to the differences in each site's legacy mail system and its integrated systems and procedures. A successful migration depends upon accurately identifying all unique aspects of the system that are to be duplicated in Microsoft Exchange and then duplicating these conditions through development and testing prior to the actual physical migration.

The principal issues of concern in any migration to a new mail service are data integrity and transparent cutover to production. Data integrity guarantees that all mail accounts, stored messages, and associated personal information and preferences (for example, address books, passwords, and so forth) are accurately retained in the new mail system. Transparent cutover to production means that the transition is handled quickly, cleanly, and with no disruption to the end-user experience.

In typical migrations, the total amount of time required for a successful transition is a function of system complexity. Both the total number of mail accounts and the total number of stored messages are significant factors. In addition, migration time can be affected by system and site-specific issues.

Any migration strategy must address:

1. Migrating accounts

2. Migrating mailboxes

3. Migrating Accounts

This migration involves all of the information that uniquely identifies and describes a user, including class-of-service data that defines the service for which users are subscribed. Account data must be placed in the Microsoft Exchange 2003 system before message data. The first task is therefore to collect and transfer account data from the legacy system and then transfer it to the Microsoft Exchange 2003 system.

If your legacy system has domains and organizational units, you must prepare to migrate these also.

Migrating Mailboxes This migration involves message data–the actual messages to be migrated that belong to the user. The mailbox is simply a collection of the messages belonging to a particular account.

Preparing the Migration Plan Migration involves significant planning, more so than any other deployment task. This planning is necessary because the activity is exposed to existing users and will, in most cases, be the initial experience that users have of the new system. It is very important to plan for every eventuality in order to avoid problems during the migration.

Migration is 95 percent planning and 5 percent execution. A multitude of factors that must be considered in order for a migration to succeed.

The Migration Plan provides a detailed, step-by-step procedure for migrating accounts and mailboxes to Microsoft Exchange 2003. The deployment team should make several dry runs of this plan, with each dry run resulting in a subsequent refinement of the plan.

Any migration plan should address these considerations:

1. Ensuring systems readiness

2. Coordinating with other groups and identifying dependencies

3. Verifying software installation and configuration

4. Setting up the test system

5. Providing provisioning connectivity

6. Testing the migration

7. Choosing full or limited migration

8. Resuming service

Ensuring Systems Readiness All systems to be tested must be ready and operational before testing begins. In addition networks must be implemented as defined in the architecture design (see Chapter 2).

For each original e-mail system, separate IP settings (each with unique “A” records in the DNS) must be established for the following:

Host Address This is the permanent IP assignment for the host. Service Address This is the address that is used by all e-mail clients for a service. The Service Address will be re-assigned to Microsoft Exchange at the time of account migration. Service Proxy Address There must be a Service Proxy Address for each Service Address. The IP number used for any Service Proxy Address will match its respective Service Address. The Service Proxy Address will be used for proxy targeting where proxy is used on the Microsoft Exchange system. These can be de-assigned after all migrations are complete and when it is determined that a revert procedure is not required.

Coordinating with Other Groups and Identifying Dependencies Since any migration touches upon many aspects of a company's operations, make sure you coordinate the migration with all affected groups and identify dependencies–that is, determining the order in which systems should be migrated.

Verifying Software Installation and Configuration In addition to installing Microsoft Exchange 2003 (see Chapter 3) and verifying that all components inter-operate, you must set correct Microsoft Exchange environment settings for the root user. These include the correct $PATH, $LD_LIBARARY_PATH, and $Microsoft Exchange settings in order to access the Microsoft Exchange migration tools.

Setting Up the Test System To validate a migration plan, the test system should have the capacity of production systems, including the proper storage volume configuration and failover configuration (service continuity). The test system must have Internet connectivity, as Proxy mode operations cannot be tested without this.

Aside from equipment that mimics the production system, test driver machines must also be available to power the migration and capacity tests. The test drivers must be configured with migration utilities as well as with mail clients or other test utilities for accessing and sending mail.

At least one test host is required for migration testing this host acts as a surrogate for the actual online e-mail hosts and holds all mailbox data required for testing.

Providing Provisioning Connectivity The provisioning interface must be validated before migration can occur. C API procedures should be tested to ensure that modifications performed on the ISD are successful and are propagated to the provisioning database. The Perl API set for batch account migration also must be tested. Last, administrative routines in the provisioning system or ISD must be validated.

This testing is performed in a dual provisioning environment. The purpose of dual provisioning is to ensure the ability to revert to the legacy mail system in the event that the new mail system in not successful.

For provisioning, automatic mailbox creation must be tested. Zero-length mailboxes are typically not migrated rather, they are turned on in Microsoft Exchange 2003. The first time mail is received or checked, the mailbox can be created. A large test database (representing the volume of anticipated accounts) must be test-migrated to ensure that the procedure works and that the destination ISD database can handle it.

If possible, you should identify a group of “friendly” users willing to assist in identifying any problems or errors

Testing the Migration Before the migration can occur, comprehensive testing on the production system must be completed. Migration test activities are “non-intrusive” to the existing mail system and are conducted from a separate system using actual user account information and a test copy of the production user data.

The procedures for extracting account data from the legacy system must be tested. The method and utilities to load these accounts into the ISD must be validated through testing. Each class of service must be included, as well as each combination of account attributes, such as forwarding, aliases, and vacation replies.

In addition, the process of moving mailboxes to the Microsoft Exchange 2003 system must be tested. This process includes the method of suspending the account, the physical transfer of messages and attachments, and the return of the account to active status.

You should make any possible configuration changes to prevent network or system loading. In addition, you must establish any special network, host, or storage accommodations that may be required for testing. A special network configuration may be required to prevent traffic complications introduced by migration testing. Another solution may involve localization of the original mailbox storage to the Microsoft Exchange 2003 system.

Choosing Full or Limited Migration Accounts to migrate can be defined based on business rules (for example, all mail accounts in good standing or priority accounts requiring early access to features not offered in the exiting mail system).

If you are not going to migrate the entire population at one time, there are certain considerations you need to plan for. For limited migration, you must configure the Microsoft Exchange 2003 system for POP proxy in order to retrieve mail from the legacy system for unmigrated accounts and mailboxes. The architecture must also account for SMTP relay during Proxy mode in order to deliver appropriate mail to the legacy system as well as to Microsoft Exchange 2003.

The method of migrating account data must be identified and tested. Before the limited account migration can occur, a back-out plan, migration quality assurance, and certification of migration must be resolved and validated by testing.

In many instances, new subscribers to mail service at the customer site are added to the Microsoft Exchange 2003 system before migrated accounts from the legacy system. The benefits of handling new registrations in Microsoft Exchange 2003 are that you may be able to:

Offer differentiated service immediately.

Introduce Microsoft Exchange 2003 at a measured pace.

Ensure that no more users are added to an obsolete system.

Resuming Service Once migration is completed, accounts are automatically switched from Proxy mode to active status. Users regain access to their mailboxes and all messages that were deferred during migration are delivered to their intended recipients. In addition, you must move operations entirely to the Microsoft Exchange 2003 system and deactivate the legacy system.

A burn-in period should be identified, over which the Microsoft Exchange 2003 system must be closely monitored for error conditions.

Using Migration Utilities There are multiple methods for the combined migration of accounts and mailboxes. One method is to transfer all accounts in a single migration. Then, mailboxes can be transferred in batches. Another method is to transfer a batch of accounts, then transfer a batch of corresponding mailboxes, and so on.

Utilities that support the chosen strategy must then be developed and tested. These tests should include timing of the execution of these utilities.

This phase involves the building of the migration utilities themselves and must include the design, development, and testing of the migration utilities that are to be used to migrate the mail from the existing system to the newly implemented Microsoft Exchange 2003 system. New tools have to be built very often because of the different source mail systems that can be in existence.

Microsoft Exchange 2003 offers automated migration tools designed to streamline the process of moving your service, including built-in tools for services using Sendmail and Software.com's Post.Office. These flexible, modular, and customizable tools are Perl scripts that handle the export of directory, mailbox, and user information from these other systems to files in Microsoft Exchange 2003-readable format (based on LDIF), which are then imported into Microsoft Exchange 2003. These tools enable you to migrate all accounts at once or as incremental blocks of users. When migrating from a different mail system such as Netscape Messaging Server or SIMS, Microsoft Exchange 2003's proxy features and robust export command set provide a solid foundation for rapid development of custom export scripts.

Tips for a Successful Migration With the completion of the migration tests, the only anticipated impact will be caused by the difference in functionality between mail systems. Once the migration of accounts has started, the target production environment becomes the production environment.

The migration procedure involves these discrete steps:

Setting up Microsoft Exchange 2003 in Proxy mode

Changing the MX record

Identifying accounts to be migrated

Extracting account information

Creating accounts in Microsoft Exchange 2003

Migrating messages

Setting Up Microsoft Exchange 2003 in Proxy Mode Microsoft Exchange must be configured for Proxy mode prior to activating the system. The proxy configuration permits the relay of message and service requests to the legacy system until the full migration has been achieved.

In Proxy mode, all incoming mail is directed to Microsoft Exchange 2003. If the mail is for a user that does not have an Microsoft Exchange account, the mail is relayed to the legacy system for delivery. If a user attempts to retrieve mail, but the user's mailbox is not yet located on the Microsoft Exchange 2003 system, the POP server will connect to the legacy system and will retrieve the mail from the legacy mailbox location.

Changing the MX Record In order for mail to reach the Microsoft Exchange 2003 system (instead of the legacy system), you must change the MX record in the DNS for the mail domain of the site, so that traffic is directed to Microsoft Exchange 2003.

With all of the mail directed to Microsoft Exchange, you can begin to burn-in the system with live loads and become accustomed to operations administration even if there is no account data in the system. However, as soon as the system is activated, accounts are provisioned directly into Microsoft Exchange 2003.

——————————————————————————–

Note: This step can take a few hours to be propagated over the Internet.

——————————————————————————–

Identifying Accounts to Be Migrated The first step in migration is to determine which existing mail accounts will move to the Microsoft Exchange 2003 system. Accounts to migrate can be defined based on business rules (for example, all mail accounts in good standing, or priority accounts requiring early access to features not offered in the existing mail system).

Extracting Account Information After defining the accounts to migrate, the next step is to extract account information from the existing mail system. Using the target account list, account information is exported into a file in LDAP Data Interchange Format (LDIF). The standard LDIF format permits the importing of account information from any existing mail system to an Microsoft Exchange system. The scripts used here can be customized to handle any situation.

Creating Accounts in Microsoft Exchange 2003 Next, accounts are created in the Microsoft Exchange directory based on the account information described in the LDIF file. As accounts are created, they are placed in Proxy mode, causing mail delivery to and access from unmigrated accounts to be passed directly through to the old mail system, thus ensuring continuous service to end users. During this phase, if a user logs in and supplies an unknown username, the Microsoft Exchange POP server connects to the current e-mail system.

Migrating Messages The last phase of migration involves moving mail messages from the existing mail system to the Microsoft Exchange system. Message migration may occur either as separate files or as a single, concatenated file. However, some customization is typically required, since the way a message is stored in the Message Store Server (MSS) can differ from the standard mail format. This phase requires new accounts to run in Maintenance mode, during which time these mailboxes are unavailable. For this reason, message migration is typically performed in small increments during off-peak hours.

Exchange Migration plan for moving forward:

Perform Due Diligence on your network via Remote Terminal Service ( Next Week)
Identify existing components - users, groups, login variables
Document proposed AD structure
Project kickoff meeting (Friday)
Install Windows Server 2003 (Friday Night)
Install Active Directory (Friday Night)
Configure, Patch and Connect (Friday Night)
Review Event Log, resolve any errors (Friday Night)
Connect AD environment to existing Windows 2000 (Friday Night)
Identify existing printers (Saturday)
Identify existing components in Exchange (Saturday)
Build Exchange, configure, patch(Saturday)
Install and configure virus software,Spam solution and Fax
Software(Saturday)
Configure OWA in DMZ(Saturday)
Verify Installation (Saturday)
Perform Mailbox Move (Saturday)
Install Outlook 2003 on all desktops. (Saturday - Sunday)
Review Event Log, resolve any errors (Sunday)
Setup Test workstation/perform testing (Sunday)
On-Site to handle any issues with the migration (Monday)

The above steps are only an estimate of work needed to be perform a successful migration. After we perform the Due Diligence Intercore will have a more definite outline in MS Project to fully detail the breadth of work needed to perform the migration . This Due Diligence will identify issues that we can resolve before the migration is performed.

InterCore Technologies, LLC opened it's doors in May of 1996. Our mission: To Provide a high level of computer consulting services using the most experienced engineers at fair prices. We believe in using a Business Value approach to every aspect of computer consulting. This provides our clients with the most cost effective solutions. We help our clients get more with their current technology investment. Click here to see why Intercore is different from other firms

Exchange Migration Groupwise Lotus Notes conversion services

When you start Forex trading you can begin with a paper trading account with which you can understand how the market moves and you can develop more skills and knowledge about this trading account. Once you are successful with the paper trading account then you can move in for the mini Forex trading account.

In mini Forex trading, you get all the benefits of a full-size Forex accounts. The same software, charts and graphs can be used while handling mini Forex trading. However, it helps you to develop the confidence needed to be successful without the anxiety and distractions that come when large sums are on stake.

Mini Forex trading is done in smaller contract sizes of ten thousand units, which is 1/10th the size of the standard account. For opening a mini Forex account you would require 100-300 dollars. Here one PIP is equivalent to one dollar for EUR/USD and GBP/USD.

With a mini Forex trading account you can learn risk management, which will help you in future while dealing full-size trading account. You can trade by using one mini lot and can then build up on the lot size later.

In a conventional sense, you should use only one mini lot for every thousand dollars that you have in your account. Say if you have five thousand dollars, you can take only five mini lots. But in mini Forex trading the pip value is one dollar and therefore, you can concentrate on building strategies without paying much attention to the profit and loss.

With mini Forex trading, you can invest just $250, but trade 10,000 worth of a currency because of the high leverage. In a mini account, the margin deposit requirement per $10,000 lot traded is only $50. This leads to a leverage of 200 to 1 (10,000/50 = 200). Therefore, with your $250, you can trade a maximum of 5 mini lots, with $500 a maximum of 10, with $1000 a maximum of 20, etc.

So the basic advantages of mini Forex trading are:

1) The account can be opened with as small an amount as $250

2) It has a leverage of 200 ? 1

3) It facilitates smaller trade size

The account helps new Forex traders build confidence as they are trying out different strategies

There are other methods like Base 10 Trading for small traders. However, mini Forex trading is most suitable if you want to maintain the account under $10,000. It will provide you the flexibility of implementing strategies and offer more staying power in the Forex market as you can take advantage of multiple trades without over-leveraging your trading account.

Paul Bryan is a successful and experienced Forex trader and also the webmaster for http://www.investawise.com, bringing you all the latest Forex news, reviews and advice.

Some of the best things about a Forex trading course includes learning how to chart the movements of the market and learning how important it is to know the right times to buy or sell. Something else that can be gleaned from a Forex trading course is familiarizing ones self with the terminology and the general process of trading in the Forex market. Just having this basic knowledge is an immense help to those who are looking to get involved with the Forex market.

There are crash courses available as well as full-time online or even real life classroom courses that offer courses. Another way to learn about Forex is to become an apprentice. To become an apprentice you need to make sure you find a Forex trader who has a lot of experience under their belt.

There are of course some basic things you need to look for in a good Forex trading course. The first thing to look for includes a course that has a particular stress on trading basics. Some of these basics are margins, types of orders and leveraging. Knowing these basics is of great value when dealing in the Forex market. Another thing that you should look for in a good course is one that analyzes common mistakes and looks at ways to avoid them. As well as these a good Forex trading course will also have an explanation of technical and fundamental analysis tools and will look at developing habits that breed success.

There are also three other areas that a good foreign exchange trading course will teach about it. They will make sure that you develop and understand the Forex trading system thoroughly as well as gain knowledge of money management and learn to develop trading psychology properly.

Another aspect that should be considered in a trading course is real life experience. Of course the best way to gain this is by an apprenticeship. But there is however some of the courses that are offered in classrooms that have a live conference room that allow for those who are learning to trade in real time or at least in a simulated environment. These experiences should also have a one on one feedback time and a forum available to exchange information and lessons with others.

The ones that are run online can definitely offer the benefit of convenience. This is because someone who goes this route in a FX trading course can take advantage of the course at any time they are free to. This gives the benefit of being able to have a more flexible schedule as far as when to study and such.

Not everything about Forex can be learned in a trading course. A lot of times the experienced and skilled Forex trader will gain knowledge and valuable learning lessons through years of hands on experience. But taking a foreign exchange trading course is a good start for anyone who is just beginning and highly recommended as well.

Check out http://www.forex-made-ez.com/ for more articles on forex course trading and forex made easy.

Some of the facts and measures we go through may be simple to some but may be new concepts altogether for other people. All in all every piece of information is critical to your understanding and succeeding in the forex markets, and hopefully our articles about forex trading tips will help you on your way.

When you trade currencies you are trading currency pairs. You always trade a currency in reference to another. Therefore, when you are looking to trade currencies, make sure you are aware which currency pair you are looking at trading with and understand how both currencies impact on one another.

Understand the bigger picture. Understand how the foreign exchange markets are influenced, and what makes them move. The forex market movements are different to stock markets in their leverage and in their volatility and nature. They are open 24 hours and because they are global, are easily influenced by news and data releases at any time of day. Any news affecting any country?s economic progress or anything about interest rates are bound to have some effect on the forex markets in their relevant currency pairs.

Be ambitious yet humble. Your trading goals need to be reasonable, not too greedy, but not too small. Some traders aim to profit from small moves - placing tight orders to take their small profits. But think about it ? is this sustainable? Is your risk/return ratio worth the effort? Remember that you have to wait until the price clears the spread your dealer placed on the currency pair. If your trading system it aiming small, it would mean, more trades and more chance the trade will go sour, since a large portion (the spread) of your trade will be going to to your dealer?s pockets and you aren?t allowing for much movement before you take your profits (or loss). If you are new, this concept may be a little confusing, but for those of you in the know - you should definitely have a think about it if you haven?t already considered it.

That?s enough forex trading tips for now, come back for the next part soon.

George Polizogopoulos is a staff writer for ForexTradingHQ.com, the information hub for forex (foreign exchange) traders. More information about learning forex is available on our forex trading website.

This article “Forex Trading Tips - Part 1” can be found in our Foreign Exchange (FX) Markets category.

You may republish this article on the condition that it is not edited and all html links to our website is kept intact. Please don?t steal! ForexTradingHQ.com ? 2006 All Rights Reserved.

With technology advancements, individuals can now trade the forex with large amounts of capital, something that was previously impossible.

Global forex trading is going on twenty four hours a day seven days a week and you can trade anywhere, anytime, as long as you have an internet connection and your computer.

Forex trading is the trading of various currencies throughout the world. When you place a forex trade, you are making a “bet” that one currency will increase or decrease in value against another currency.

Some of the basic characteristics of global forex trading include:

The forex market is completely separate from the stock market. Not only that, but there is always a bull market in forex trading. One currency is always falling or rising against another currency.

Forex trading is a global market so you can partake in currency trading 24/7.

Forex trading has a lot of leverage, much more so than margin accounts for stock. While this makes forex trading riskier, it also greatly increases your profit potential.

The Global forex market is the largest in the world. It is estimated that over $1 trillion dollars in trades takes place every day.

It's important that you educate yourself and learn as much as you possibly can before starting to trade the forex. While forex trading is a phenomenal trading opportunity, if you don't know what you are doing you will lose a lot of money.

You need to know your risk level and how much you are willing to lose. You also have to understand the different forex trading systems, such as technical and fundamental and research these trading systems so you are familiar with how they work.

You'll need to learn things such as trading trends, price history, support and resistance lines, etc. You'll also need to be familiar with the various economic factors that can affect the value of one currency against another.

As you can see, there is a learning curve involved when it comes to profiting from global forex trading. But the rewards, in the form of amazing returns on investment, can be well worth it.

Learn more about forex trading tips and tactics for more profitable currency trades at http://www.forextradingtactics.com where Richard Pfaeltzer, an investor and freelance investing and success writer, contributes articles on forex and currency trading

For instance, let us examine a chart from ?Technical analysis of future markets? by J. Murphy. (For view the picture see notes in end of article)

Besides, one should pay attention to a chart from the book written by J. Swagger (?Technical analysis. Complete course?).

As these plots demonstrate, in both the cases the slanted channel is directed downwards. Thus, it is the ?bear? trend. Under these conditions

? any deal made on ?sell? must bring profit

? the higher is the deal-rate, the higher will be the profit that a trader can gain at Forex.

It is so easy, isn?t it?

However, why do at least 19 of 20 traders keep on losing their game at Forex?

To answer this question, we must in detail study the following aspects of this problem:

1. One must understand techniques of charting (plotting) the slanted channels in works by classicists of Forex.

2. While working with slanted channels, one must see points of opening and closing deals ? in accordance with the determination of such points in the classical literature concerning Forex.

3. One must find out the unsettled (unsolved) contradictions that the classical literature on Forex contains. Such contradictions inevitably result in losses when traders open/close deals according to these techniques at Forex.

4. One must find an optimal solution to such problems, unsolved yet.

5. Further we will introduce the optimized version into Masterforex-V Trading System. That is, by combining different approaches, Masterforex-V Trading System will help us to detect optimal points where deals should be opened and closed.

Comments. In Masterforex-V Trading System, points of opening and closing deals are defined in the following way. These are the intersections of signals from slanted channels with Fibonacci levels and moving averages. Masterfoex-V Trading System also studies techniques of the work with ally pairs and zigzag-fractals in various time frames (TF). Besides, in this system, levels and sublevels of resistance and support are also taken into account. The currency pair movement type is also considered. That is, it can be a trend or a flat. In Masterforex-V Trading System, other traders? working instruments can be used (Elliot?s waves, etc.).

Generally speaking, one can single out the following techniques of the slanted channel charting (plotting).

? A trader can work with a single slanted line (the lowest one under the condition of an ascending trend or the upper one when the trend is descending).

? Otherwise, one can work with two slanted lines (the lowest and the upper ones) - they correspond to the resistance and support, respectively (according to T. Hartley).

? There is another approach, developed by Barishpoltz. The two lines of moving slanted channels are optimized. Their tilt angle becomes changed as soon as a currency breaks through one of the levels of a given channel.

? There also exists the slanted channel technique, elaborated by T. DeMark. This author has introduced the notions of TD-points and TD-lines.

? J. Swagger has developed his own technique of the slanted channel plotting. It is based on detecting the tendency with the help of maximums and minimums.

I. J. Murphy?s technique of the slanted-channel plotting on the basis of a single slanted line

This technique of using slanted channels for determining the trend type is an element of the basic course in all manuals of Forex.

? The channel slanted upwards is plotted through minimum points. It is a level of support. Making a start from it, the ?bull? trend is going on.

? The channel slanted downwards is plotted through maximum points. It is a level of resistance. Making a start from it, the ?bear? trend is going on.

The charts from ?Technical analysis of future markets: the theory and practice? by J. Murphy can serve as the illustrative examples. Below each of the two charts the comments given by J. Murphy are submitted.

Chart 4.6a. An example of the upward-directed trend line. (For view the picture see notes in end of article)

(Here and below all over this chapter the chart numeration is preserved as it is given in the originals under quotation)

The trend line is drawn below the sequence of ascending minimums. First, the trend pilot line may be charted via two local minimums the second one being located higher with respect to the first one (e.g., points ##1 and 3). However, only a third point (#5) can confirm that the trend line is true.

Char 4.6b. The downward-directed trend line. (For view the picture see notes in end of article)

The downward-directed trend line is drawn above the sequence of descending maximums. The pilot trend line may be charted via just two local maximums (e.g., points ##1 and 3). However, this line can be regarded as true only if a third point (#5) is included into consideration.

I.A. The clarity introduced into the slanted channel plotting technique by Neiman in his ?Trader?s small encyclopedia?

According to Neiman, the following features (signs) can be related to general characteristics of trend lines, figures and models.

? The signal arises only after the intersection of the level of resistance or support in the slanted channel. Before this moment the analysis is reduced to prognosticating the possibility of the price behavior (movement) within the framework of a given model.

? Conclusions concerning the forthcoming (immediate) development of the currency actual movement are the most reliable.

? Trend models can be divided into the following groups: confirming the trend, warning about the forthcoming reversal and working towards the general direction of the trend development. In the third case, conclusions concerning the trend further development are the most trustworthy.

? Dealing with any signal (even the most intensive one), it is advisable to detect supplementary signals of any type.

? It is useless to look for trends within short time intervals. If the trend lifetime is very short (<5 min), the profit can be too small ? negligibly small as compared with the possible losses. Under these conditions, the short trend can be directed against the long one (the longer trend is more intensive).

? Except straight lines, any smoothly-curved lines can be used - even geometrical figures (such as circles and ovals) do fit.

II. The technique of slanted channels according to T. DeMark

As distinct from Murphy?s slanted channels, T. DeMark has elaborated the technique of TD-points and TD-lines (local peaks of intra-day candles).

T. DeMark describes drawbacks of Murphy?s slanted channels. Issuing from there, T. DeMark has introduced TD-points and TD-lines for plotting slanted channels.

Often the notion of ?trend line? is interpreted ambiguously and illogically. However, the reader should keep in mind that among a great number of possible trend lines, just only one line is true. T. DeMark has succeeded in developing an effective technique of his own. It consists in choosing just two critical points for plotting the trend true line.

Chart 1.1. (For view the picture see notes in end of article)

The descending line of ?supply? depicts the gradual decrease in prices. Price peaks (maximums and minimums) are also descending step by step.

Chart 1. 2. (For view the picture see notes in end of article)

The gradual increase in prices is depicted in the ascending line of ?demand?. Price peaks (maximums and minimums) are also ascending step by step.

A direction of the movement in prices is determined by ?demand and supply?. If the demand exceeds the supply, prices increase. And v.v.: if the supply is higher than the demand, prices fall down. All economists accept these basic principles. Charts 1.1, 1.2 illustrate this approach. The descending line corresponds to ?supply?. The ascending line depicts ?demand?.

However, the difficulty consists in the choice of the special (particular) points, through which these straight lines pass (see Chart 1.3). As a rule, the analysts? approach to trend line plotting is rather subjective. The movement in prices is traditionally studied retrospectively ? from the past to the future (???). This is why in the chart axis the dates are written from the left to the right. Respectively, lines of the demand and supply are plotted from the left to the right. As one can intuitively sense (feel), it is incorrect. Really, the price movement at a given moment is much more important than movements in the market in the past. In other words, the trend standard lines must be plotted from the right to the left. In this case, the latest data on the state of the market occupy the right part of the graph. Firstly one can think it unusual. However, T. DeMark?s own experience and numerous observations confirm the expediency of this approach. One must not sacrifice logics and preciseness for the sake of simplicity.

Below one can see the generally-accepted procedure of plotting a large number of trend lines. Just one of them is regarded as true.

Chart 1.3. (For view the picture see notes in end of article)

The most important is to choose the two key-points among the multitude of all points. The trend true lines pass through these two points.

In addition, T. DeMark has mentioned that further he will prefer to use the daily charts and daily prices for grounding (illustrating) his analytical statements. However, these dependences are true in all other time frames. T. DeMark has explained the reasons of choosing exactly daily charts.

1. The daily information is the most accessible. In dozens of years analysts keep on working mainly with daily charts.

2. Working with daily charts, a trader must not continuously trace out the market intra-day behavior. The chosen regime of work reduces the risk of being trapped because of the prices frequent corrections ? as it is known, such corrections are the ?pest? of intra-day databases.

3. It is preferable to use market signals, based on the daily information. In this case, there increases the probability of making deals at a price, closest to the one given in the order.

Chart 1.4a. (For view the picture see notes in end of article)

At the encircled points the prices are the highest in the days, directly adjoined to the day in question. Supply price pivot points (TD-points of supply) serve as key-points because of the following reason. Due to the increase in the supply, prices cannot break through the level of resistance that passes through these key-points.

Already at the very beginning of his investigations, T. DeMark has come to the following conclusion. Supply price pivot points are detectable when the price maximum becomes registered. Other price values do not exceed this maximum on the eve of the day in question and the next day as well (see Charts 1.4a, b).

Naturally, to determine the demand price pivot points, one must use the inverse procedure. A price point is considered to be the demand price pivot point if the price minimum becomes registered. Prices do not fall down lower than this minimum value on the eve of the day in question and the next day as well (see Chat 1.5).

In fact, it looks quite logically. Such demand/supply price pivot points become formed at critical days ? i.e., they are reversal points in the trend development. If the supply exceeds the demand, prices fall down (see Charts 1.4a, b). If the demand exceeds the supply, prices increase (see Chart 1.5). As T. DeMark discovered these tendencies, he considered to have the right to name these points after his own initials (TD-points).

Charts 1.4a, 1.4b, respectively, depict these patterns. First, two maximum, subsequently descending TD-points are found out. Then the supply line is drawn through them (TD-line of supply). In Fig. 1.5, two price minimums, subsequently ascending TD-points are singled out. Then the demand line is drawn through them (TD-line of demand).

This approach is rather clear and simple, isn?t it? There cannot be any excuses that ?wrong? points were chosen. The procedure of choosing the points has become logical and objective. And what is more, this method is attractive as the price real dynamics is taken into account. In other words, any misbalance between the demand and supply indicates itself in the charts via the appearance of new TD points. As such points are appearing, the continuous correction of TD- lines is going on (see Chart 1.6). This graph illustrates the importance of determining the two last TD-points and plotting TD- lines through them.

Chart 1.4b. Supply price pivot points (TD-points of supply) form the level of resistance. At these points the prices are the highest on the days, directly adjoined to the day in question. These TD-points of supply are marked in this graph. (For view the picture see notes in end of article)

Chart 1.5. Demand price pivot points (TD-points of demand) belong to the level of support. The daily minimum price is registered. At these points the prices are the lowest on the days, directly adjoined to the day in question. The TD-points of demand are encircled in this graph. (For view the picture see notes in end of article)

Chart 1.6. (For view the picture see notes in end of article)

This graph depicts 4 potential TD-points of supply. The points A-B form the 1st line of supply. When a new TD-point of supply is formed (C-point), and a new line of supply can be plotted (B-C). Finally, after the formation of another point of supply (D-point), C-D line of supply can be charted. Clearly, this correlation between the supply and demand is varying continuously. Respectively, the line of demand (support), which depicts the market corresponding dynamics, keeps on changing as well.

3. Charting of slanted channels according to J. Swagger (see ?Technical analysis: the complete course?).

The descending tendency can be regarded as a sequence of maximums and minimums decreasing continuously (see Chart 3.3). This tendency preserves until the previous relative maximum is not broken.

The descending tendency is depicted by a sequence of continuously diminishing maximums and minimums (coffee December, 1992).

Here RH designates relative maximums RL denotes relative minimums.

Chart 3.10. The descending trend corridor (cocoa September, 1992). (For view the picture see notes in end of article)

Usually the following rules are applied to trend lines and corridors.

1. The fall in prices can be approaching the ascending trend line. Correspondingly, the rise in prices can be approaching the descending trend line. Often these conditions give a good opportunity for opening positions towards the principal (basic) tendency direction.

2. The ascending trend line breakout is a signal for opening a deal on ?sell? ? especially if this breakout is confirmed by the daily closing price.

3. The descending trend line breakout is a signal for opening a deal on ?buy?. As a rule, to confirm this breakout they fix the minimum rate of interest of the change in price or the minimum number. Otherwise, one can state the daily closings outside the trend line.

4. The lowest line of the descending trend and the upper line of the ascending trend corridor make the profit fixation potential zones for short-term traders.

IV. Optimization of T. DeMark?s slanted channel technique by D. Swagger, who makes use of ascending and descending tendencies

Swagger states that the definitions and terms introduced by him differ from those used by T. DeMark. However, the both approaches to the detection of trend lines coincide to the letter.

At the same time, Swagger considers that the technique submitted by him is clearer and more laconic than that of T. DeMark.

The relative minimum is the daily minimum, lower than any minimum in N days before the trading day and N days after it.

The descending trend line is the current line that connects the latest- and the previous relative maximums. The previous one must be higher than the latest. This condition is very important. It guarantees that the trend line that connects two relative maximums is really directed downward. In Chart 3.15, the descending trend line is depicted N=3.

The ascending trend line is the current line that connects the latest- and the previous relative minimums. The value of the previous minimum must be lower than that of the latest. In Chart 3.16, the ascending trend line is depicted. For determining the previous relative minimums, the parameter N=8 is used.

Chart 3.16. The ascending trend line - N=8 (SWISSI December, 1994) (For view the picture see notes in end of article)

Chart 3.17. A set (sequence) of ascending trend lines (sugar October, 1992). (For view the picture see notes in end of article)

Comments. The trend lines 1-5 are ascending sequentially. In detecting relative minimums (RL), N=10 is taken.

Thus, the procedure of trend line detection is based on finding out the latest- relative maximums and minimums. This approach permits us to continuously bring correction into trend lines when new relative maximums and minimums come into existence.

For instance, Chart 3.17 depicts a sequence of ascending trend lines. They are being plotted immediately after the appearance of new relative minimums (N=10). This is going on until the arrival of a signal for the trend reversal. In Chart 3.17, there are the three consequent closings at a level lower than the actual ascending trend line. It is a signal for the trend reversal. Analogously, Chart 3.18 depicts a sequence of descending trend lines. They are being plotted on the basis of relative maximums (N=8). Three consequent closings at a level beyond the actual trend line serve as the signal for the trend reversal.

Chart 3.19. A sequence of the descending trend lines (N=2). Exchequer Stock June, 1994. (For view the picture see notes in end of article)

Comments. The lines 1-12 of the consequently descending trend (N=2) serve for detecting relative maximums (RH).

Under different values of N, trend lines differ substantially. For instance, in Charts 3.19-3.21, various lines of the descending trend are depicted. They are obtained in the same chart under three different values of N. The lower is the value of N, the more frequent is the trend descending line correction - and the more sensitive is the trend line to the breakout. For instance, there is a dozen of trend lines, obtained when N=2. At the same time, just three lines correspond to N=10.

V. Charting of slanted channels according to T. Hartley (?Analysis of channels?)

There exist 4 types of trend channels: there are 2 channels per each of the two markets, where the trends are directed upward and downward, respectively. Trend channels connect points of extreme prices of closing (the highest and lowest ones).

Figure 1 depicts the upward-directed channel (resistance). One should detect the two lowest prices of closing and draw the line #1. The use must be made of the uppermost maximum price of closing between the two minimum prices of closing in order to draw a line, parallel to the 1st one. This channel indicates the level, up to which the price can rise. In this way, one can estimate the potential profit, obtainable during the ?rising tide? of money in the trend. While the market is moving towards a new maximum price, one should draw a trend line through the two points that correspond to the highest prices of closing. In addition, one should draw a line, parallel to the previous one, through the lowest price of closing. In this way one gets the opportunity to detect the probable point of support under the condition of money ?falling off? against the trend. (For view the picture see notes in end of article)

Figure 2. The upward-directed channel (support) is depicted. One should detect the two maximum prices of closing and draw the line #1. The used must made of the lowest price of closing between the two maximum prices of closing in order to draw a line, parallel to the 1st one. (For view the picture see notes in end of article)

Figure 3. The downward-directed channel (support) is depicted. One should detect the two maximum prices of closing and draw the line #1. The use must made of the lowest price of closing between the two maximum prices of closing in order to draw a line, parallel to the 1st one. (For view the picture see notes in end of article)

Figure 3 depicts the steps, necessary for plotting a downward-directed channel. One should mark the two highest prices of closing for the line of support. A parallel must be drawn downwards to start from the lowest price of closing, located between the two above-mentioned points of the highest prices of closing. (For view the picture see notes in end of article)

Figure 4. The downward-directed channel (support) is depicted. One should detect the two minimum prices of closing and draw the line #1 between them. The use must be made of the outermost highest price of closing between the two minimum prices of closing in order to draw a line, parallel to the 1st one. This graph depicts the steps, necessary for plotting the line of resistance. The use is made of prices of closing in order to draw these guiding lines. Surely, in giving analysis to the channel, mistakes are possible. They can be conditioned by the intra-day sudden changes in prices. Notwithstanding this fact, the closing at a long distance from the prescribed level of resistance/support yields important information. Surely, being not always simple, such plotting requires a certain practice. (For view the picture see notes in end of article)

VI. Slanted channel technique according to V. Barishpotz (?moving price channels? or ?Barishpotz?s channels?) ? see ?Forex for the beginners? by V. Barishpotz

Issuing from T. Hartley?s channels, V. Barishpotz has changed their angles of slope, making it the function of local minimums and candle maximums.

V. Barishpotz is sure that, as far as he is concerned, this instrument is the most handy - notwithstanding its simplicity. The channel that contains two (or more) price waves is especially powerful. According to this author, the most efficient tactics of trading is the following. The trade must be directed towards the channel center to start from the channel bounds when ?stops? outside the channel bounds are rather strict. Often the reversal is more efficient than just a stop. This happens because the breakout through the channel boundary is a rather powerful signal ? especially if it coincides with the trend direction. If the directions of the trend and the breakout through the channel boundary don?t coincide, it is the signal either for the trend reversal or for the transition to a flat. For the position opening, it is better to wait until the price will overcome the previous peak ? e.g., during the downward-directed trend reversal to the upward trend. It is rather an important signal for reversal. As a rule, there appears either a ?double bottom? or a ?double summit? figures.

Thus, one can see that there exist 6 different techniques of plotting slanted channels.

In the next chapters we?ll examine the following problems:

? The points of opening and closing deals during the work within the framework of the slanted channel classical theory

? Mistakes during the work within the framework of the slanted channel classical theory, conditioned by the problems not solved by DeMark, Murphy, Neiman, Swagger e. al.

? The methods of solving these problems in Masterforex-V Trading System.

Note: Full text of this article and pictures of examples you can see on http://masterforex-v.su/002_005.htm

If you wish to be trained on Trading System Masterforex-V - one of new and most effective techniques of trade on Forex in the world visit http://www.masterforex-v.su/

Vyacheslav Vasilevich (Masterforex-V)
Professional Trader from 2000 year.
President of Masterforex-V Trading Academy.
Author of Books:
1. Trade secrets by a professional trader or what B. Williams, A. Elder and J. Schwager not told about Forex to traders.
2. Technical analyses in Trading System MasterForex-V.
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