The Rookie DayTrader
Visit our Home Site at The Rookie DayTrader for more tips and training. Learn to trade in the stock market. We provide a step by step learning process for the beginning investor.
We are now Mobile enabled
The Rookie DayTrader Blog is now Mobile enabled for the fillowing types:

iphone, ipod, aspen, incognito, webmate

android, cupcake, dream, froyo

Blackberry Storm/Torch blackberry9500, blackberry9520, blackberry9530, blackberry9550, blackberry9800

Palm webos

Samsung s8000, bada

Just use the address: http://www.rookiedaytrader.net

Your device type will automatically be selected.
World Market Watch
US Stock Market Indexes
Energies Monitor

Posts Tagged ‘Trades’

What is Forex Signal Safe? Is It Legit or Another Forex Scam?

Forex Signal Safe is a completely unique Forex monthly subscription service. With Forex Signal Safe you will have the convenience of automation coupled with real human intelligence. This is not another Forex training course, signal service or automated robot. It is something much better.

Forex Signal Safe is controlled by Jeff Alan, a professional Forex trader that has over 5 years of Forex trading experience.

Here are the basics of how Forex Signal Safe works.

You will attach the Forex Signal Safe software to your Meta Trader Forex account. This software is connected to Jeff’s account and and will automatically make the exact same trades he makes. You do not have to watch any charts or stress out over trades or stop loss orders.

Here’s an inside scoop on why Jeff Alan has been so successful in the Forex market. He rarely leaves trades open overnight or over the weekend and he keeps very tight stop losses.

One reason why you should be careful leaving trades open overnight is because large banks and financial institutions generally make their moves at night. They shift around billions of dollars which can have a huge impact on the fluctuation of the currency pairs. These massive fluctuations can wipe out your Forex trading account completely which is one reason why Jeff does not take that risk.

At this time, Forex Signal Safe only handles the EUR/USD pair; however, you will always maintain complete control over your account and can make trades and changes whenever you wish.

Forex Signal Safe is revolutionary with its automation and human intelligence combination. It is highly recommend that you check out what Forex Signal Safe has to offer.

- About the Author: Learn more about how Forex Signal Safe can help you increase your Forex profits. Article Source

Know Anything About Penny Stocks?

Hello,and welcome to the wonderful world of penny stocks. Many feel intimitated by anything with the word stocks involved since most of automatically associate the word stocks with gamble or loss. The fact is that penny stocks on the nasdaq and amex can be regularly day traded at a great profit if you just know some basic things.

There should never be a scared feeling when being involved with penny stocks. I can understand a sense of concern, and possibly some apprehension, but never be scared. It’s good to be on your guard and be aware of what is going on in the market.

Always be leary of so called “know it alls” There are many out there, and they are all self proclaimed guru’s. So be sure to do your research and find a reputable financial firm or outfit who can assist you.

Get used to using the computer on a regular basis, and constantly check the Dow to see what it is doing and what kind of effect it has on you. Be educated and understand how to read the market and it’s trends. Once you can develop a routine or a pattern, it will make your life much easier to pinpoint what’s hot and what’s not.

Never get too greedy. Once you begin to buy and sell, realize that you might make very little on your first handful of trades. There is nothing wrong with as long as you have a positive cash flow. Pennies per transaction time on thousand transactions can add up.

Once you get good at the day trading scene, you should begin to sharpen your skills even more and at times it’s ok to take a bit of a risk. The rewards could be beneficial. Although the losses could make an impact on your portfolio. Never get cocky. It’s the times when you let your guard down and assume you’ve found “the one” penny stock to beat all others, and then next day it crumbles.

Never forget where you came from. Always appreciate any gains you have made. So if an unfortunate time does end up coming around, you can be prepared for it and the rebound will be much easier on your wallet. Don’t ever lose your confidence or give up as you will have wasted everything you have learned, and a possible future income for you would have been thrown away.

- About the Author: Always on the search for products to make your life easier, Art Tupaczewski relates with his own life experiences and his acquired knowledge of certain select aspects of life to bring to you safe, sound advice. Sick of scams and so-called cure-alls, he goes the extra mile to find out exactly what you need to know. Want to learn more? Come see us at http://www.stockpickspennystocks.com for information about penny stocks Article Source

PRE PROMOTION STOCKS Review – Scam or Legit?

I’m sure you have heard of the Pre Promotion Stocks newsletter by now so i’ll give a quick overview of their unique value proposition and then we’ll talk about whether this trading strategy is a legitimate service or just another online hoax.

The concept of Pre Promotion Stocks is really, really simple. They send an email that tells you about penny stocks that are very likely candidates for near future stock promotions. For the penny stocks that do get promoted, Richard Appel’s subscribers have the opportunity to buy before the paid newsletters start pumping the stock. 

In other words, his subscribers buy the stock in the “Pre Promotion” phase (before the stock promotion starts) and then sell it during the “Pump” (when paid newsletters start their campaign).

It’s a very sound trading strategy… but does it work?

On the http://www.PrePromotionStocks.com website Richard Appel documents 5 trades that gained an average of 114.6% per trade:

ETEV gained 24% over one weekend in late 2009; ARTS bought on January 4th, 2010 for a 157% gain; GRPR bought on April 15, 2010 for a 57% gain; ZLUS bought on May 7, 2010 for a 31% gain; and BLGW bought on January 27th, 2010 for a 170% gain.

(Like I said earlier, these 5 trades were documented in a video on Richard Appel’s site).

But i’m a skeptic, and I wanted to go beyond these 5 trades so I invested $124 into a lifetime subscription of Pre Promotion Stocks (didn’t have anything to risk, they have an iron-clad, no questions asked 100% money back guarantee).

During the past 7 weeks from July 10th – August 30th Richard Appel alerted the following “Pre Promotion Gems” (his highest level of confidence):

SILA was alerted on July 12th at $0.77 and hit a high of $1.21 for a potential 57% gain; CRPZ was alerted on July 22nd at $0.28 and hit a low of $0.15 for a potential loss of 47%; HELI was alerted on August 16th at $0.062 and hit a high of $0.113 for a potential 82% gain; KHGT was alerted on August 23rd at $0.20 and hit a high of $0.40 for a potential 100% gain (then it collapsed back down to $0.20 for a break-even trade); MYNG was alerted on August 27th at $0.19 and it’s unchanged since then.

Out of these 5 “Pre Promotion Gems” I received over the course of 7 weeks, 3 were big winners, 1 was a big loser and 1 was unchanged.

Hypothetically, if I started this 7 week stretch with $5,000 and re-invested all proceeds it would have turned into $15,144.22 (keep in mind this does not account for trading commissions).

And to give Richard Appel a bit more credit, all 5 “Pre Promotion Gems” went on to be promoted by numerous stock newsletters. Apparently he does know how to find upcoming stock promotions after all.

So there’s my take on Richard Appel’s “Pre Promotion Stocks”. It’s not a flawless trading strategy but it’s far superior to James Connelly’s Penny Stock Prophet. I did make a hypothetical profit and I always felt like his intentions were in the right place (he doesn’t get compensated for picks, he doesn’t use hype and he tries to explain all his rationale in great detail).

Hope this helps anyone out there thinking about investing in Richard Appel’s www.PrePromotionStocks.com trading system.

- About the Author: Jenn Rayne was employed with the Boeing Company as an electrical engineer before getting laid off in 2009. Since then she has done consulting work as a freelance writer and has taken a keen interest in learning the finer details of stock trading using technical analysis. Article Source

My Review of Penny Stock Prophet

<!– @page { margin: 0.79in } P { margin-bottom: 0.08in } –>

Penny Stock Prophet is a penny stock picker designed to uncover soon to be profitable penny stocks and notify you so can invest accordingly. I’ve heard mixed reviews about the system itself, with some calling it a money making robot and otherx labeling it a scam. When I heard of the 60-day money back policy, I decided to try it for myself first hand. This is my review of Penny Stock Prophet.

Something I want to say up front is how Penny Stock Prophet finds the winning trades that you are supposed to earn money on. This program uses the full extent of the market for the generation of his picks. What this means is that it takes into account the past every time it analyzes real-time market data.

This makes sense, and is the same method which the large trading houses use to predict market activity, as well, as the market moves and develops in patterns that repeat themselves every few years. Taking into account the past, you can recognize similarities between past and present in real-time market data and go from there.

As I mentioned above, it focuses only on penny stocks which works out to a big advantage. Penny stocks are the cheapest investment in the market could be found, and consequently they are much more susceptible to external influences.

As such, it is common to see one of these stocks fluctuate in value quickly in a short period of time. So, if you are able to separate the stocks which are set to jump from the rest, hence using a program to identify this like Penny Stock Prophet, you can effectively double or triple your investments in a short period of time without the time to put towards analytical work yourself.

I have made money on each one of this program’s recommendations, since I have began using it more than two months ago. Penny Stock Prophet, to put it simply, has given me the best return rate of stock pickers on the market which I’ve used today.

In summation, I highly recommend this program to anyone looking to realize their financial independence in the stock exchange but doesn’t have time or experience to actually put to it, a great choice for casual traders.

- About the Author: <!– @page { margin: 0.79in } P { margin-bottom: 0.08in } A:link { so-language: zxx } –> I’ve created a site devoted entirely to stock picker programs and offering reviews on the best which I have tested and continue to use myself day in and day out which you can visit by clicking this link for stock picker programs. Article Source

Three Reasons Not to Rush into E-Mini Day Trading

It seems there is a chorus of marketers hawking a variety of Forex and e-mini day trading programs on the Internet. There are promises of fast cash, 1000% returns, and guaranteed methods of trading. Nothing could be farther from the truth. Learning to trade is a skill, much like the skill set required for any job. This skill set is not acquired instantly from reading an e-book or buying a trading course. This is not to say that buying a trading course is a bad idea, in fact, it’s a great idea. But to trade effectively you need to give yourself some time to learn trading methodology, market psychology and acclimate yourself to the trading environment.

I encourage everyone to learn e-mini day trading, but I caution against running headlong into the market place with expectations that are not realistic. The first few months of trading can be disastrous without proper preparation and experience.

1. Most Novice Traders Tend to over Trade.

When considering an e-mini day trading opportunity it is important to weigh a number of factors and assess the probability of the trade being successful. Relying on rote oscillator signals or similar rate of change indicators without fully assessing the price action in the e-mini contract being traded is the recipe for failure. It is important to firmly understand the current trend in the market and the size of your e-mini futures account before entering any trade.

I regularly see new traders taking 10 to 15 trades a day. Rarely are there are this many trading opportunities during a trading session. Experience has taught me that there are 5 to 8 good trading setups each day, sometimes less.  Why do novice traders tend to over trade?

A typical reason for over trading is “chasing the market.” New traders tend to pile into trades late, usually just-in-time for the directional movement of the market to change. There are a variety of reasons new traders tend to chase the market, for the most common reason for this phenomenon is taking every single trade indicated by an oscillator or indicator. It is important to use a multi-threaded system to filter your trades in a manner that eliminates some of lower probability trades. Trade filtering is one of the most important components of any trading system. Some trading systems use trending markets and agreement between several indicators to indicate a trade. There are many filtering systems on the market and all good trading programs filter trades in some manner.

2. Most Novice Traders Tend to Trade to Many Contracts

Money management in your e-mini futures trading account is the skill that will enable traders to remain in the market for an extended period of time. On the other hand, trading the maximum number of contracts your account is authorized to trade (by the brokerage margin department) is a mistake.

A good rule of thumb for sizing the number of contracts in a potential trade is to never trade more than 5% of your e-mini trading account balance. For many smaller accounts, this will mean trading only one contract. Emotionally, trading a mere one contract is a difficult task, especially when the new trader has purchased a program that has conditioned his or her thinking to get-rich-quick. Because the margin department has authorized you to trade up to 5 contracts doesn’t mean it’s a good idea to do so.

Why?

Should you go on a run of losing trades, save 4 in a row, you can easily lose 60 to 70% of your e-mini trading account balance. Needless to say, this is a less than desirable outcome. In my opinion, most traders trade to many contracts because they have been conditioned to believe their trading system is infallible and all they need to do is follow the system and riches will come pouring their way. As I said earlier, 5 to 7% of your account balance is the maximum you should risk on any given trade.

3. Most Traders Are Not Familiar with the Psychological Factors in Trading.

I like for my first trade to be successful because it puts me in the right frame of mind. Of course, there are days when you might be stopped out on your first trade and find yourself with a significant negative profit/loss position. At this point, it is not unusual for novice traders to over trade or trade too many contracts in order to catch up.

Regardless of the day’s prior trades, is essential to maintain your trading methodology and money management system. There is always a temptation when you are having a losing day to up the number of contracts in an effort to regain your footing in positive territory. This is always a bad idea. Traders also tend to increase their risk tolerance by initiating lower probability trades when they are having a losing day.

It is essential to trade your account, not let your account trade you. It is entirely possible to salvage a day after an initial losing trade. To be sure, you are more likely to produce positive results when you stay true to your system. Negative account balances for a trading session are notorious for compounding problems. You can easily turn a modest loss and to disaster by trading outside the parameters of your e-mini day trading system.

In summary, we have discussed the importance of staying true to your system and not letting outside factors put you in the market before you are ready; over trading, poor money management, and unfamiliar psychological feelings all contribute to trader failure. In short, be fully prepared to trade before you begin trading in earnest; there is no need to rush into e-mini day trading before you are ready.

- About the Author: Click here for free nightly videos analyzing the day’s trading action (a $297 value). Article Source

How to Earn Money With Forex Trading

Foreign Exchange (or FOREX) forms the major platform, where the currencies of different nations are exchanged for one another. Forex forms one of the world’s largest markets. The currencies are exchanged to encash the profits from the increase in the prices of one currency over another. Generally there is no fixed rate for the exchange for the world currencies, as they keep on fluctuating as the trading is done in the currency pairs such as Dollar/Yen, Euro/Dollar, and others.  

Currency trading or the forex trading is always carried on in currency pairs. The rate of the currency is also often referred to as the “Forex rate” or even “rate”.  But, in order to evaluate that if any investor makes some profitable investment, his investment option needs to be evaluated and compared against the alternative investments. Also, it is a common practice to compare the return on investment (ROI) is compared with the return on a “risk-free” investment. One example of a risk-free investment is long-term U.S. government bonds since there is practically no chance for a default, i.e. the U.S. government going bankrupt or being unable or unwilling to pay its debt obligation.

When you opt for the forex trading, you must trade for the currencies only when you expect the currency that you plan to buy will increase in value, as compared to the currency you are swelling. If the situation is that the currency you are buying does increase in value, you must sell back the other currency in order to lock in a profit. There can be an open trade position or situation too, when a trader has bought and sold some particular currency pair and has not sold that pair, to earn the amount that I equivalent or near to the amount spent.

The trading of the major currencies takes 85% of the daily trades.  Many of the traders, who carry on with the forex trading just look forward to simply exchange some foreign currency for their own. But, a major part of the forex comprises of the people who simply speculate the movements of the exchange rates. The currency or the forex traders try to encash even the small benefits from the exchange rate fluctuations. The monetary flows along with the forecast about the macroeconomic conditions of the world result in the actual flow of money.

The forex trading works in three shifts; hence it is a 24 hours activity in the forex market.  Two sources are primarily responsible for the daily turnover in the forex trading.  The foreign trade is one of them and is accountable for 5% transaction. This forex trading is due to the fact that the foreign companies buy and sell the products in the foreign markets and the currency conversion helps them to earn profits. The second and the major source of turnover in the forex trading is the speculation part.

Usually, in forex trading, the traders are more focused on those currency pairs that are most liquid, such as Japanese Yen, Euro, British Pound, US Dollar, Canadian Dollar, Swiss Franc, and Australian Dollar. The fact is that approximately 85% of the daily forex trading is in these major pairs of currency.

The major attraction of this forex trading, for the private investors, is that the volatility of the forex markets helps them earn significant profits. They utilize various standard equipments for regulating the exposure to risk. They can also easily book profits based on the rising and the falling markets. The forex trading offers them with various significant options for zero commission trading.

Forex trading can seem to be easy, but there are chances that your increased earnings in one day are converted to high losses the second day. It is much likely that the novice traders make the same mistakes time and again. But, they can make use of a various strategies to turn their losses into profits in forex trading.

Forex trading is increasingly becoming popular, with a daily average turnover of nearly US$3.2 trillion. Forex brokerage companies carry on the major forex transactions. The major aim of the investor in Forex trading is to ensure earning profits from the fluctuations in the foreign currency.

- About the Author: Continue Reading here About :- Forex Trading Alert and Forex Market Article Source

Unbiased Black Dog Trading System Review

This is my impartial Black Dog trading system review. This Forex trading program was set thru its paces during 14 weeks and the truth that I’m carrying on with only using this technique with regard to my investing should certainly speak positive things concerning its efficiency. Down the page you will notice how the method made almost 3900 points in that time implementing 6 currency pairs and find out how you could use it to profitable results your body.

For starters, I should point out that this technique consists of three independent systems. Feel free to use one, 2 or maybe all three for you to invest with and therefore in the interest of my trial run all three were put to use.

These systems are actually particularly easy to follow and even indicators appear on your monitor by means of arrows on the graph that will notify when to ready for the trade. Addititionally there is an stereo caution as well.

The authors web site promises that approximately seventy percent of trades will be successful and I’m able to back that up together with my own, personal success rate with seventy two percent.

Actually the gains of the strategy teach you a lot more than a written review such as this and so a complete explanation of the weekly gains as well as losses are shown on the link down below. One impressive part of this test is that were no bad weeks. There were adverse day totals as expected nevertheless long term profitability is vital that is certainly just what Black Dog seems to be good at. Was I simply fortunate? Quite possibly, however over 90 days for assessing gives a really good indication for success.

Read more for the Black Dog trading system review, click on the links below where you will also read the live test final results breakdown from each week, real user testimonials in addition to new member opinion from other members.

- About the Author: Click Here to see how to earn your passive income every day… Click Here Now for a new lifestyle using Black Dog Forex… Article Source

Finding Your Trading Edge

The winning traders are not ones who have never lost. To be a winner in trading game, you have to think in terms of long run. Hence, if you want to be one of winners, you have to find trading methods that work over the long run what is known in gambling as an edge.

By thinking in terms of long run, one question that you ask yourself is “What happens if I keep doing this?” If there is more chance to win the game, it is a positive expectation game while the negative expectation is vice versa. The negative expectation game is the one that you have more chance to lose.An edge refers to one’s systematic advantage over an opponent. Without an edge in games of chance, you will lose money in long run.

So, what about your trading? Consider your trading method, what happens if you keep using it? If it will give you profits over long run. That means you are trading with an edge.

To find your trading edge, you need to locate entry points where give you greater than normal probability that market will move in the same direction with your trades and within your desired time frame. Besides entry strategy, as I have always mentioned that good trades also comprise of exit strategy. Therefore you have to pair the designed entry with an exit strategy in order to maximize your edge.

Entry strategy must be paired with appropriated exit strategy. Thus, trend-following entry strategies can be paired with many different types of trend-following exit strategies. Also, swing trading entries can be paired with many different types of swing exit strategies and so on.

Elements of an Edge

To get more understanding of an edge, let’s dig further into the components that make up the edge for a trading system. The following are the elements of an edge described by Curtis M. Faith in his book “Way of the Turtle“.

Portfolio selection: The algorithms that select which markets are valid for trading on any specific day

Entry signals: The algorithms that determine when to buy or sell to enter a trade

Exit signals: The algorithms that determine when to buy or sell to exit a trade

It is possible for an entry signal to have an edge that is significant for the short term but not for the medium term or long term. So, find the signals that give you an edge to your trading styles, personality and money management.

- About the Author: Taro is an experience trader who trades in stocks, futures, forex. He strongly focuses on technical analysis, trading systems and money management. If you would like to find more articles on MetaStock Tutorials, MetaStock Formulas, Trading Systems and Money Management. Please go to MetaStock Trading System. You would also find the recommended trading books, DVDs, software and tools at MetaStock Trading Store. Article Source

Forex for starters

To become a successful trader there are a three things you need to get correct from the outset

1 – Law of attraction.

This is not one that most people think of when they start trading but without the right mind set how will you get to where you want? Taking a leap into an unknown area is scary for anyone, if you have no successful traders surrounding you then the whole task can seem unachievable. We have heard how the Law of Attraction work, you imagine what you want and the law of attraction makes it happen!

So to begin with you need to decide how much do you want to be making from trading a month?

Set yourself a target, write down a figure. Then write down what you will do with that money, describe your new life EXACTLY as you want it to be, this is where the law of attraction comes into play the more you ask for something and see it in your life the universe makes it happen. Keep this list in front of you; imagine that life, until it becomes a reality.

2 – Risk management

Losses early on can definitely put a person off trading for life! That’s not to say you won’t ever lose its just about making sure that by managing the risk the losses always are less than the gains. So let’s get it right from the start!

i)                    Having a mathematical approach to this is vital as gut feelings can only lead to trouble! Calculating the reward: risk ratio is important as new starters and even experienced traders say that the reward: risk ratio for all trades should never be less than 3:1.

ii)                   Keep trades to 1% of the trading account. This limits the amount that can be lost on any trade.

3 – Get some professional help

There are loads of books and manuals explaining how to trade and key things to look out for so it’s best to go with the most successful tried and tested methods. Professional help doesn’t have to cost the earth there are plenty of programs with loads of support available.

Forex Automoney is such a program that not only provides trading software but training videos and has telephone support for all it traders, go to http://forexautomoneyreviews.org and try the limited trial offer or read the reviews at http://forexautomoneyreviews.org/forex-automoney-review

- About the Author:

Article Source

Forex survival kit

Where do you start? Charts or methods or do you buy a DIY package or attend seminars? All this was enough to put me off before I even started! So if you are in the same boat as I was then don’t panic! There are experts telling you what do to do and how to do it, theres loads of free info to read so lets start with the first do’s and donts of forex trading..

1)      Get some help! Learning from a successful trader can only help make you a better trader. Books and programs are good if you have the basics under your belt.

2)      Never start trading with your money use demo accounts, for example Forex Automoney is a trading platform that provides training and a demo account for you to practise on BEFORE you actually put any money on the markets. An estimated 90% of new starters fail to make a success of trading as they do not practise and learn the basics.

3)      Learn to manage risk. Do not use more than 1-2% of the capital in your trading account, big trades can mean big profits but also can mean big losses. Money management is the key to long term success in forex trading.

4)      Learn your methods well. New traders often are quick at placing trades but when they start making a loss do not get out! Apply methods strictly.

5)      Trading can be very exciting however it is necessary to keep calm and have a disciplined approach rather than get carried away with emotion.

Although the starting period for new traders may not yield life changing profits instantly, many traders have built a steady and successful income.

To take a step towards becoming a successful trader try http://forexprofitcodes.com to learn more about forex trading software and training programs built by professionals designed to help new starters and professional traders alike. Find more info at http://forexprofitcodes.com.

- About the Author:

Article Source