Thanks to John Bollinger, traders were equipped with an indicator which tells them if the market is quiet or loud. With two simple bands that narrows and spreads apart when there is action.

So how does it work? When one band is pierced, price has a tendency to move to the other band. Most people think that when a candle pierces a band, it signals a change in price automatically. That’s a big mistake. This usually happens after that section or wave of the trend is done. But other conditions must apply. Remember that the use of Bollinger Bands must be in context with other indicators such as Moving Averages or the Elliott Wave pattern.

 Bollinger Bands 101: Download

Find out how to accomplish hedge trading with better results and never break the no hedging rule.

Recently, the National Futures Association (NFA) announced a new rule approved by the Commodity Futures Trading Commission (CFTC) and will take effect in the next two months. The first part of the NFA Compliance Rule 2-43 prohibits the practice of hedging. The second part d restricts a forex dealer from adjusting prices after an order has been executed.
Will this be good for forex traders or is it another hindrance to earning more profit?

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 How to Hedge in Forex Trading Without Breaking the "No Hedging" Rule: Download

We have a special announcement for the Trading Mastermind community AND even to non-members. Do you believe in the power of the Law of Attraction? Have you been trying to make this work in your life? Do you want Michael J. Losier to answer all your queries? Because he will be doing that and you are invited!

Author, trainer and NLP practitioner Michael J. Losier has been a teaching Law of Attraction for sometime now and his book Law of Attraction: The Science of Attracting More of What You Want and Less of What You Don’t changed the lives of many people. Unlike other books on Law of Attraction, Losier’s book is easy to follow so readers can achieve what he wants and move away from what he doesn’t want.

He will be live (via teleseminar) on April 16, 2009. So go ahead and register because the number of attendees is limited. Click here to register.

 Law of Attraction in Forex Trading: Download

Find out what prevents most people from experiencing consistent profit in Forex trading and what the successful traders know to overcome these obstacles.

 Slap in the Face Obvious "Secret" Mental Technique for Forex Trading: Download

Recently I received several emails about a proposal to limit the leverage available to U.S. Forex traders to 1.5 to 1.  One of the main reasons that Forex trading is so popular today is  because of the high leverage with 100:1 being standard and 200:1 or even 400:1 available through some brokers.  This enables traders to open accounts with a small amount of capital and realize profit on trades that control a much larger amount of capital.   For instance a Forex trader can open an account with $5000 and enter a trade with only 5% of the capital at risk and if the trade is profitable by 100 PIPS, $500 could be earned in one day which is, of course, a 10% return on capital in one day.  Many Forex traders are willing to accept the risk of loss in order to learn to realize this kind of profit consitently over time.

Some Forex traders were a little nervous when they heard that the FINRA,  Financial Industry Regulatory Authority, proposed to virtually eliminate high leverage for Forex trading accounts.  Well, that is how some misinformed traders were interpreting this proposal.  As it turns out, there is more to the story. 

Last year Rosenthal Collins bought MG Forex just as the first capital requirement was set to kick in. RCG then announced that MG Forex was a subsidiary of Rosenthal Collins Securities, which is regulated by FINRA, not the NFA. Thus MG Forex was able to avoid the $20 million capital requirement since FINRA members need only $250,000 in capital. That was then.

Last week FINRA released a proposal capping the margin level that forex brokers can offer at 1.5 to 1. Essentially, FINRA is saying you can’t trade Forex on margin.

FINRA - Regulatory Notice 09-06:

The rule will not effect NFA registered forex brokers. But for those Forex brokers with FINRA licenses the party appears to be over. Why is FINRA doing this? 

Quote:
"FINRA has observed a potential migration of retail forex activity from the FCM channel to Broker Dealers…" 

Hmmm, couldn’t be that forex dealers who didn’t have the capital to keep their NFA licenses were suddenly showing up to get a broker dealer license on the cheap? Well, if that was the case consider that escape hatch to be boarded up. My take is that FINRA does not want to regulate forex brokers. So what they are saying is "sure you can offer forex trading. But you can't offer any leverage so why bother to offer  Forex trading at all?"

A lot of forex brokers were trying to get licenses with FINRA because of the low capital requirement. FINRA basically put this rule in place to keep forex brokers out of their club.  So the Forex trading industry is still going strong and still providing one of the best recession proof business opportunities available.  I believe it will continue to be one of the best businesses in the world for a long time into the future.

Is it really possible to trade forex while relaxing at the beach? Some say it actually helps with the wave theory.

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 Trading at the Beach: Download

Even though worldwide economic conditions show no signs of abating, Forex trading is steadily growing as a viable means of generating cash in these dark times. Now, Forex traders have added another weapon to their arsenal: trading on mobile devices such as pocket PCs and mini notebooks. There unique wireless devices afford Forex traders freedom of mobility, as well as the opportunity to gain an advantage in this competitive marketplace.

Boulder, Colorado (Trading Mastermind) January 30, 2009 - Today, newly elected U.S President Barack Obama denounced the actions of Wall Street financiers over the last year as “outrageous” and “shameful.” Throughout 2008, the world economy cratered, due in no small part to these U.S. financial institutions. Yet, there remains a vibrant pocket of financial activity largely untouched by these dark economic events. This industry is called Forex trading.

According to Colorado-based (US) insider Trading Mastermind (www.forextradingseminar.com), all indications suggest that Forex trading has not only weathered this global economic downturn but has even seen moderate increases in this last year. Forex insiders predict even greater gains during 2009 and beyond.

Forex trading’s buoyancy is due partially to technological advances which now allow foreign currency exchange trading to be conducted on wireless mobile devices.

Technology Brings “….Freedom of Mobility”
Forex, short for “foreign currency exchange,” is the purchase and sale of foreign currencies. Forex has emerged as one of the prime ways that ordinary citizens can leverage the power of world economic markets to make considerable sums of money for themselves.

But one myth of Forex trading–that of the daylight-deprived Forex trader glued to a computer screen all day long—has recently been destroyed.

Now, Forex traders can operate at nearly full capacity, with the assistance of wireless devices, such as pocket PCs and mini notebooks.
Reports Scott Shubert, CEO and President of Trading Mastermind: “One of the reasons I love Forex trading is the freedom it provides, not just the freedom from enslavement to the corporate rat race, which itself is a good enough reason, but also the freedom of mobility. I like to go places…”

As the saying goes, the proof is in the pudding: Mr. Shubert delivered this statement pool-side from a Pacific Island resort where he was vacationing while attending a conference.

Competitive Edge
More important than increased mobility, these mobile devices give Forex traders the competitive advantage they need.
Forex trading is a highly volatile, fast-paced marketplace. With massive daily turnover of $3.2 trillion, Forex trading far outpaces most other financial markets—stocks, commodities, mortgage-backed securities, and even precious metals.

Any Forex trader serious about making money, particularly in these economic conditions, needs to grab every available competitive advantage.
“With QuoTrek [a service providing streaming quotes and charts to mobile devices],” says Shubert, “I have access to all the currency pairs; can easily change from one timeframe to another; all the indicators I need are here; and it saves your chart setup so it’s there the instant I open it up again.”

Recommended Mobile Devices for Forex Traders
Trading Mastermind recommends a number of mobile wireless devices as being appropriate for the Forex trader:

• The HP 2133, which runs Windows Vista, weighs in at 2.5 lbs. Its generous 8.9 inch screen and nearly full-size keyboard are perfect for displaying charts and other detailed graphics.
• The OQO, running on either Windows XP or Vista, has a robust 1.6 GHz CPU and a compact portable 120 GB hard-drive.
• The Sony Vaio UX, with a powerful Intel Core 2 processor: 1.2 GHz speed, 1GB RAM, Windows Vista Business platform. Retails for just around $2500, and can be carried in a belt pouch.

A fan of rigorous outdoor activities, CEO Shubert is partial to a class of computers known as “rugged laptops.” These impact-resistant laptops are also impervious to sand, heat, and water. Shubert suggests the Panasonic Toughbook, the Irtonix Go Book, or similar rugged devices manufactured by Dell.

For information about how Forex trading can see you through these trying economic times, or about the intersection of mobile devices and Forex, contact Scott Shubert at www.forextradingseminar.com

Trading Mastermind:
Trading Mastermind is the worldwide trading community’s premier source for interaction and sharing of ideas and trading knowledge. Regardless of level of experience, all Forex traders are invited to participate in the community and improve trading skills through close interaction with other traders.

This is the second video I have made on the subject of trading with miniature notebooks and mobile devices such as Pocket PC phones.  Trading using a mobile device has become an essential part of my Forex trading business.  In this video made Jan 22, 2009 at the Marco Polo Hotel in Cebu, Philippines I show just a little about the mini notebook and the Samsung I900 Windows Mobile 6 Pocket PC phone using Metatrader 4 Mobile.  I intend to make more videos about the specifics of exploring which phones and mininotebooks work well for trading, the best Forex brokers to use and the best charts for mobile trading.   Also we will explore how to do your primary analysis at your home office, sync your trading notes to your device and then look for a specific set up during your day while you are out and about using the mobile device.  I hope you enjoy it.

 Mobile Devices: Download

When I saw my Jewish friends in Israel displaying the flag of Israel on their Facebook profiles I wanted to also honor the flag, the nation of Israel, and the holy city of Jerusalem.   What a beautiful world we live in where Jews, Orthodox Christians, Catholics, Protestants, Moslems and Bahai share the same holy city in peace.  In my imaginary world neighbors of different faiths reach out to help each other in love and genuine compassion.     Do you see it?   Beautiful!   Peace!

 A Free Trading Video From the World's Largest Market Forecasting Firm

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