The Forex Nitty Gritty

In the Forex market the Forex news is the past. What matters are your Forex strategy and your anticipation of the next Forex news. “The dollar slides versus the euro.” “The Yen gains versus the British Pound.” These are the news headlines we see. The appropriate response is, “So what?” Your Forex strategy has to do with anticipating the news that will affect a Forex market move and developing more efficient means of taking a profit on that move.

Responding to the news of Forex market moves is like taking old stock tips. You are always the last one to get the tip and the stock is ready to move the other way. Don’t be mistaken. You need to read and keep up with the news. You also need to know what news is important and when it is coming out. Here we are talking about government reports such as the US Federal Reserve’s update of US economic conditions in its Beige Book. What we are not talking about is reading a newspaper article the following day reporting what some reporter says the Fed had to say.

It is important to know when the important data will be available because when such data is released that is when the Forex market as well as stock and options markets make their moves. Your Forex strategy should be to plan what you will do in response to any given set of reports. To the extent that the news is a report of government reports you are too late and are taking an old tip.

Your Forex strategy should include keeping current on trade data for the countries whose currencies you trade in the Forex market. For the USA agricultural data is important because it is the largest part of US exports. Thus keeping current on weather conditions, crop disease, etc. need to become of your Forex strategy routine. You do not need to become a soybean expert but knowing if there is a bumper crop expected in Brazil while the US is experiencing a drought is important if you trade dollars in the Forex market.

Likewise keeping up on what airplane and aerospace orders Boeing has is a helpful Forex strategy is, next to US agriculture, Boeing is typically the largest US exporter. The US debt and balance of trade are also things you need to keep up on. Again, your Forex strategy is to stay conversant on these matters and have a plan for how you want to trade depending upon if the various reports come in as anticipated or if they contain surprises, which typically roil the Forex market and other markets.

Once you are routinely keeping up with the current state of things that affect the Forex Market is when you begin to formulate a long and short term Forex Strategy. What do you believe the Forex market will do in the next week and in the next year? Your Forex strategy will be your responses to market moves with and against the generally expected flow of the Forex Market.

When there is a natural disaster or something like the terrorist attack on the World Trade Center your Forex strategy needs to include the possibility that markets will suddenly close. Your Forex strategy needs to be able to anticipate immediate currency pair changes and the Forex market corrections that always occur after a moment of general panic.

Having a well thought out Forex strategy is how you take advantage of the news even before it hits the streets.

The Forex market reflects the fact that the world economies will soon be on the mend. The Forex market and daily Forex currency trading anticipates the eventual relative values of currencies. Your Forex trading software anticipates the next Forex Market move based upon a database of past experience and sophisticated programming. Does having insight into where the Forex market will be next week, month, or year make any difference in daily Forex currency trading?

We can reasonably expect that some currencies will lose value over time and some will gain value as the world readjusts after the recession. Those who anticipate whose currency will drop in value and who will gain will come out winners in Forex currency trading. Forex trading software is basically technical trading in a box. It follows the patterns of the year, month, day, hour, minute, and second to give you a statistically based recommendation.

You believe that the US economic stimulus package was too big and that, over time, it will lead to inflation and a drop in the value of the US dollar in the Forex market. So, the question is this. In your Forex currency trading do you continually sell dollars for Yen, Euros, or the Pound Sterling? Not really.

Successful Forex currency trading is based upon the fact that the slide of the dollar or its ascent is not a smooth algebraic curve. The Forex market takes into consideration multiple events, trends, and possibilities and then does its Forex currency trading. The huge number of traders, each with a slightly different mindset, makes for a set of discontinuous market curves. It turns out that things like fractals out of so called Chaos Theory often do a better job of explaining what is going on than the algebra you learned in school. That is why you buy Forex trading software.

For your Forex trading software to work you need to practice and you need to be true to your Forex market trading plan. When the Forex market moves there is plenty of opportunity for profit for a practiced trader.

Forex market insight is still important because he or she who knows more has the opportunity to gain more in Forex currency trading. However, adequate Forex market insight has to do with knowing daily events as well as long-term trends and has to do with the Forex currency trading that is going on every day in many different currency pairs at once. This is where taking the time each day for a bit of homework and developing a reasonable Forex currency trading plan comes in.

Forex market insight will help with are some very practical Forex market considerations such as what market(s) to trade, and what hours and days to trade the Forex market and what hours and days to sit it out and watch. The great baseball pitch Satchel Page was asked why he so often stared at the batter a long time before throwing the pitch. Page joked that if he did not throw the ball the batter could not hit it! If you don’t know what is going on in the market, don’t panic and make things worse for yourself. Sit it out.

In trading the Forex market you have a Forex trading program and you have your own Forex trading strategy. Why do you need a Forex strategy if you already have a Forex trading program to trade the Forex market? The answer has to do with what your Forex strategy will be when the Forex trading program recommends a trade and the Forex market promptly goes the other way!

Computers can make very fast calculations based upon their programming and input. They can access their statistical programs and give you a recommendation that given past data input is predicted to be right 95% of the time. So, what if circumstances change at mid trade or what if your trade falls on the 5% side that is wrong? What is your Forex strategy then?

Forex traders debate whether a fundamental analysis or technical analysis is the way to go. That’s easy. They both are. You cannot think, analyze numbers, and do calculations as fast as today’s computers. However, programming a computer is like training a dog. It may do everything you want it to do to a point but it is still a dog.

You need to know the ins and outs of your trading station. You need to understand the technical analysis your Forex trading program does for you and how you can modify the parameters by which your Forex trading program makes suggestions. If you come out on the “5%” side you need to have a clear idea of what to do and how fast. If your fundamental analysis is good then your Forex strategy is to react according to what you know and what your computer doesn’t know.

A recurring situation is when the currency markets make a big shift. You get in part way through just as there is a correction. If you understand the Forex market fundamentals then you will ride out the correction and make a substantial profit or the day. If you jump ship based upon the advice of your Forex trading program and follow a bad Forex strategy then you will be substantially down for the day.

Your Forex trading program is a tool to trade the Forex market. Your Forex strategy can be thought of as a tool but since it is in reality in your head it is you. The more you know and the better prepared you are the more effectively you can execute your Forex strategy.

May we all have days when the Forex trading program is always right on the money and we never need to think much or worry. On the other hand trading the Forex market is a place where dreams come true without sound thinking and applied effort. Success requires a sound Forex strategy. The stronger your Forex trading strategy the better use you will be able to make of your Forex trading program. Knowing which currencies to trade, which Forex markets to trade and which days you could just as soon go to the beach is part of your Forex strategy. No trading, by the way, is sometimes the best Forex strategy when the Forex market’s moves baffle you. It is never a sin to put your Forex Trading Program in simulation mode and practice, observe, and reformulate your strategy.

So you want to get into Forex day trading. Where do you start, how do you proceed, and, above all, what do you expect from Forex trading online? For success in Forex Day Trading online you will want to have a clear idea of each facet of trading.

Before you start Forex day trading online watch a couple of the many free videos about Forex trading online available on the Internet. Currency trading on the Forex markets can be somewhat simpler than stock trading because you only need to deal with the currency pairs that you choose to trade. You do not need to follow multiple stocks or stock indices. Watch the Forex day trading videos and watch them again.

Before you invest in software for Forex trading online make sure you have a clear idea of how the system works. Before you begin currency trading you will need to develop a familiarity with the reasons why a given currency pair changes its relative values.

Then you will want to look at how the Forex trading software you are interested in deals with trading in the Forex market for your trading pair and what signals it will give you for trades.

You will want to develop a Forex trading strategy for your Forex day trading. Do you only trade big moves and do you have the cash reserves to wait for a big shift to come? Do you want for the market to move and scalp when trading volume is high?

You will need to develop a plan for trading Forex every day and you will need to do your homework. Whether you wait for big moves and a cash in with single pairs of trades or scalp along the back of a big movement you need to have an independent knowledge of what is going on in the market.

Your Forex trading program will work on the technical aspects of currency trades within your currency pair. None of these programs is 100% accurate so when you “miss” on a trade you need to know right away in you get out and accept your loss or if you hang in there waiting for a turn around. Some traders make their money on only a few trades a week and wait for the right prices to buy and sell. This typically takes deep pockets and a substantial knowledge of the economies involved.

Scalping with small amounts is less risky, less likely to make you a lot of money, and probably safer for beginners. You will want to do a lot of simulation of Forex day trading and then you will want to enter the market with small amounts of capital and analyze your results after each trading session.

Forex day trading can be very profitable and to be very successful it will take a fair amount of work. Expect to do some reading every day. Expect to take some losses. Expect the practice Forex day trading in simulation mode every day. Expect to become very knowledgeable about the countries whose currency pairs you trade. Expect to become a long-term thinker and to get into the minds and psychology of other in Forex day trading.

Forex trading online requires more than just good Forex trading software. It requires an overall Forex trading system. It requires a commitment and lifestyle conducive to learning and practice.  A successful Forex trader will work to develop a perspective that allows him or her to pick the right currency pairs to trade at the right times. A successful Forex trading system has to do with knowing the markets of the world, not just currency markets, even if all you trade is currency.

Online trading has changed the world. What once was the province of a few has become available to anyone willing to spend the time, effort, and money to get involved. A potential trap in using today’s sophisticated Forex online software is getting seduced by the technology. A recent flap on the internet had to do with “power texting” by supporters of a TV contestant. Lots of folks using electronics to support their “idol” may work in that setting but shear speed of processing and volume is not going to get it done in Forex currency trading without a Forex trading system.

A Forex trading system starts with deciding which currency pairs to trade and why! This part requires a working knowledge of economics, the monetary systems and economic strength of the two nations involved. In today’s world of recession and recovery one needs to have a sense of who is recovering faster and who is making the changes that will lead to stronger, or weaker, currencies in the longer run.

You need to decide which Forex exchange you will trade. If you pick the largest, London, that means a lifestyle of getting up early on the US East coast and earlier on the West coast. That may have to do with personal issues for you and a significant other that may in the end be as important as any gain you get from your choice of market.

Choosing the right Forex trading software is important. In so far as you can try to get a trial of at least two systems before you commit to one. Advice from successful Forex traders is important on this one but you are the one who will be at the Forex trade station and you need to feel comfortable with what you buy.

Your Forex trading system will have to allocate time for Forex trading and Forex simulation trading. Your Forex trading system will have to allocate time for reading, online training, and communication with other traders.

Forex trading can be fun as well as profitable. However, the better prepared you are, the more rested you are, and the perspective you have the more money you will make and that is the most fun. The trick of being successful at any endeavor is cross training. This does not mean that you go out and play baseball but that you read a lot and put yourself in the shoes of politicians, investment bankers, and other currency traders.

Good luck and work on your Forex trading system!

You are in Forex trading to make money. It is a business. However, the way you make money in your business is by knowing how the system works, having an overall Forex plan, and the self-discipline to carry through every day.

You are the one who will need the discipline to be there when the market opens, pay attention to the overall market trend and be ready to execute promptly, on signal from your software.

An experienced trader always has a Forex plan. The Forex plan takes into consideration information regarding gross domestic product changes in the countries whose currencies you trade. Your Forex plan takes into consideration inflation, news of natural disasters, possible war, huge mergers and acquisitions, balance of payments and more.

Your Forex plan starts with basics. Which currency pairs will you trade? The more pairs you trade the more opportunity you will have. Also, the more currency pairs you want to trade the more home work you will need to do to keep up with market determinants.

Your Forex plan needs to include which market you will trade, London, New York, Hong Kong, or Singapore. If you are a US citizen living in the USA trading the foreign markets means living a different set of hours than the rest of society. A Forex plan for trading the largest, London, market means some basic life style decisions, like having the discipline to not party late on Sundays when you need get up to be ready to trade at 2 am Eastern Time.

You buy Japanese Yen with US Dollars and the Yen goes up instead of down. What do you do and how fast do you do it? Or for that matter the Yen goes down. How fast do you take your profit? How do you reset your stops to take advantage of a longer run?

A big part of your Forex trading plan is your homework. Your Forex world extends far beyond the station at which you trade. How much time do you allot to catching up on world news, market news, or the national news of the countries whose currencies you trade?

The glamorous part of Forex trading is sitting there and “pulling the trigger” to make a lot of money. The sad part of Forex trading is sitting on the wrong side of a market move and having no clue as to whether you should wait for the market to reverse or get out of the trade as fast as possible to preserve the capital you have left.

A successful Forex plan for a beginner is to trade in small amounts, practice lots of simulation trading, and continually review your trades, successful or unsuccessful.

For that matter a successful plan for an experienced Forex trader may well be to trade in small amounts, practice lots of simulation trading, and continually review your trades, successful or unsuccessful!

There are always times when the exchange rate of a given currency pair will change dramatically. During that time, however, there will be ups and downs. Having done your homework in advance will allow you to maximize your trading gains during these times by working your Forex plan.

If you want to try Forex trading, you must have some courage, a basic knowledge of Forex, and have access to well-researched Forex trading tips to help you trade successfully. Once you have a winning combination of these factors, you should be able to generate a constant stream of income beyond that of your regular job. Forex trading can become a very lucrative interest if you take the time to learn and test the tricks of the trade.

It is very important to spend a lot of time researching all aspects of Forex trading. Researching the field of currency trading will also get you familiar with the various terms and slang used in the foreign exchange market so you will not be an uninformed trader. You will also get an idea about how large the foreign exchange market is. Since the foreign exchange market has many individuals and businesses investing large amounts of money into it, its growth has been regarded as phenomenal. And the ability to learn the various aspects of the foreign exchange markets, and their related forex trading methods, will prove to be invaluable.

Here are some tips to trade currency that you can use at any time:

1. Before making the leap to real money, you must begin with a fictitious account. This is beneficial for everyone, for it will help you develop your own Forex trading strategies that can be used when you’re ready for the real thing. These strategies should not only keep you from losing a lot of money, but should also help you to win at any time.

2. Make sure that when you begin trading an actual Forex account, you’re not overwhelmed or feel like you can’t lose. You can lose your hard earned money, big time. You should not assume that your investments can be doubled because of a hot tip or because you’re trying to win back previous losses out of frustration. You can lose everything if you’re not disciplned. Self-control is of paramount importance.

3. Once you have developed a reasonably profitable Forex investing strategy, stay with it. But tweak it slightly over time to make it better. Do not make drastic changes all at once. Make slight modifications over time to slowly optimize your strategy.

4. Learn to interpret Forex signals correctly so you can make make the right decisions based on those signals. It is a wise move to find a good Forex mentor to help you along the way.

5. When trading an actual Forex account, keep records and track results so that you will know for sure if your strategy is making or losing you money. You will then be better able to make the right adjustments.

It’s possible to make a living or at least supplement your income with Forex trading. To be successful, develop a solid trading plan and stick to it, make small adjustments to your plan over time, eliminate emotion from your decisions, and you will make the right decisions most of the time.

HOW TO READ FOREX PRICE CHARTS?

Forex Price Charts, what DO they mean and HOW to use them?

Important numerous facts as discipline, trading rules, not being greedy etc., but one of the most important things is:

LEARN to read the charts as Charts represent the lifeblood of the market.

I admit that reading charts, and interpreting patterns, are more an art than a skill. Base and apply your entry and exit decisions on YOUR OWN combined methods of technical and fundamental analysis.

FOREX charts, are easier to interpret and to use. They reflect a slower moving, stable economy of a country, compared to the stock market, with its daily drama of company reports, Wall Street Analysts and shareholder demands.

Unlike stocks, currency charts do not spend much time in trading ranges and have the tendency to develop strong trends. Furthermore, Forex with its 4 Mayor currencies is easier to analyze than tens of thousands of stocks.

(Mayor currencies are: USD/JPY, EUR/USD, GBP/USD and USD/CHF)

Understanding just a few basic points about the technical analysis of currency charts can lead to increased profit potential.

Pricing – Price reflects the perceptions and action taken by the market participants. It is the dealing between buyers and sellers in the Over-The-Counter (OTC) or “interbank” market that creates price movement. Therefore, all fundamental factors are quickly discounted in price. By studying the price charts, you are indirectly seeing the fundamental and market psychology all at once , after all the market is fed by two emotions – Greed and Fear – and once you understand that, then you begin to understand the psychology of the market and how it relates to the chart patterns.

Data Window Chart – FCM and most online charting stations, when you click on a price bar or candlestick, it will display a small box of data usually called a display window which will contain the following items:

H = Highest Price
L = Lowest Price
O = Opening Price
C = Close Price (or Last Price)

The most common types of price bars, used in FOREX trading, are the Bar Chart and the Candlestick chart:

Bars Charts – Price bars are a linear representation (a line) of a period of time. This enables the viewer to see a graphic representation summarizing the activity of a specific time frame. As an example, I use 10 minutes, 60 minutes and daily time interval for my systems. Each bar has similar characteristics and tells the viewer several important pieces of information.

First, the highest point of the bar represents the highest price that was achieved during that time period. The lowest point of the bar represents the lowest price during the same period. Regular bars display a small dot on the left side of the bar which represents the opening price of the period and the small dot on the right side represents the closing price of the period.

Candlesticks – Japanese Candlesticks, or simply Candlesticks as they are now known, are used to represent the same information as Price bars. The only difference is that the difference between the open and close form the body of a box which is displayed with a color inside. A red color means that the close was lower than the open, and the blue color represents that the close was higher than the open.

If the box has a line going up from the box it represents the high and is called the wick. If the box has a line going down from the box, it represents the low and is called the tail.

Many interpretations can be made from these “candlesticks” and many books have been written on the art of interpreting these bars.

Chart Intervals & Time Frames – A chart Time Scale & Period, or time frame, basically refers to the duration of time that passes between the OPEN and the CLOSE of a bar or candlestick.

For instance, with your broker software, you will be able to view a currency pair, in a 1-hour time frame over a 2-day period, 5-day period, 10-day period, 20-day period and 30- day period.

Most of the short-term time intervals (5-min and 1-min charts) are used for entry and exit points and the longer- term time intervals (1-hour and daily charts) are used to see where the general trend is.

10 REASONS TO START TRADING FOREX!

More and more well informed investor and entrepreneurs are diversifying their traditional investments like stocks, bonds & commodities with foreign currency because of the following reasons:

1) FOREX is the largest financial market in the world.

With a daily trading volume of over $1.5 trillion, the spot FOREX market can absorb trading sizes that dwarf the capacity of any other market. In fact, when compared with the $50 billion daily market for equities or the $30 billion futures market, it becomes quickly apparent this gives you, and millions of other FOREX traders, almost infinite trading liquidity and flexibility.

2) FOREX is a True 24-hour Market.

The FOREX Market never sleeps. Trading positions can be entered and exited at any moment around the globe, around the clock, 5.5 days a week. There is no waiting for an opening bell as in the case of trading stocks. It is a 24- hour, continuous electronic (ONLINE) currency exchange that never closes. This is very desirable for you if you want to trade on a part-time basis, because you can choose when you want to trade: morning, noon or night.

3) There is Never a Bear Market in FOREX.

You can have access to a seamless exchange of currencies. Currencies trade in “pairs” (for example, US dollar vs. JPY (YEN) or US dollar vs. CHF (Swiss franc), one side of every currency pair (for example, USD/CHF) is constantly moving in relation to the other. Thus, when you buy a particular currency, you are actually simultaneously selling the other currency in that particular pair. As the market moves, one of the currencies will increase in value versus the other. Of course, it is up to you to choose the correct currency to be long ( you bought) or short( you sold).

4) High Leverage – Up to 400:1 Leverage

You are permitted to trade foreign currencies on a highly leveraged basis – up to 400 times your investment with some brokers.

Standard 100,000- US$ currency lots can be traded with as little as 0.25% margin, or $250.

Mini FX accounts are permitted to trade with just 0.25% margin, meaning, just $25 allows you to control a 10,000-unit currency position.

Futures traders, who are accustomed to margin requirements generally equal to 5-8% of the contract value, will immediately recognize that the FOREX market provides much greater leverage, and for stock traders, who must post at least 50% margin, there’s no comparison. If you’re looking for an efficient use of trading , trade the Forex Market.

5) Price Movements Might be Highly Predictable.

Currency prices in the FX market generally repeat themselves in relatively predictable cycles, creating trends. The strong trends that foreign currencies develop are a significant advantage for traders who use the “technical” methods and strategies.

Unlike stocks, currencies have the tendency to develop strong trends. Over 80% of volume is speculative in nature and, as a result, the market frequently overshoots and then corrects itself. As a technically-trained trader, you can easily identify new trends and breakouts, to enter and exit positions.

6) YOU don’t pay commissions or fees to trade FOREX.

When you trade FOREX, through some brokers you can do it totally FREE of commissions and fees , regardless of your account size.

Some brokers require a very low minimum amount to open a brokerage account, only US$ 200 and they do not charge commissions or fees to trade or to maintain an account, regardless of your account balance or trading volume.

7) YOU don’t have to pay trading fees or exchange fees.

There are none of the usual fees, which futures and equity traders are accustomed to pay:

NO exchange or clearing fees,
NO NFA or SEC fees.

Because currencies trade over-the-counter (OTC), via a global electronic network, in FOREX, what you see on your trading screen, is what you get, allowing you to make quick decisions on your trades without having to worry or account for fees that may affect your profit/loss or slippage.

In the equity and commodity markets, you must pay both a commission and exchange fees. The over-the-counter structure of the FX market eliminates exchange and clearing fees, which in turn lowers transaction costs.

HOW to Forex brokers make money if they don’t charge commissions?

Like all traded financial products, over-the-counter currency trading involves a bid/ask spread, which represents the prices at which your counterpart is willing to trade. Your broker will receive a part of this bid/ask spread.

Because the currency market offers round-the-clock liquidity, you receive tight, competitive spreads both intra-day and night. Stock traders can be more vulnerable to liquidity risk and typically receive wider trading spreads, especially during after-hours trading.

9) Market Transparency

Market transparency is highly desired in any trading environment. The greater the market transparency, the more efficient the market becomes. Unlike other markets where transparency is compromised (like in the many recent scandals), FOREX markets are highly transparent (i.e., analyzing countries, and having access to real-time research / news, is easier than analyzing companies).

Because of this transparency, as an FX trader, you will be able to apply risk management strategies in accordance to your fundamental and technical indicators.

10) Instantaneous Order Execution

The FX market offers the highest level of market transparency out of all the financial markets. Because of this, order execution and fill confirmation usually occur in just 1-2 seconds.

In Forex, order execution is all-electronic and because you’ll be trading via an Internet-based platform, instantaneous execution is routine.

There are no exchanges, no traditional open-outcry pits, no floor brokers, and consequently, no delays.

Trading the Forex market has became very popular in the last few years. But how difficult is it to achieve success in the Forex trading arena? Or let me rephrase this question, how many traders achieve consistent profitable results trading the Forex market? Unfortunately very few, only 5% of traders achieve this goal. One of the main reasons of this is because Forex traders focus in the wrong information to make their trading decisions and totally forget about the most important factor: Price behavior.

Most Forex trading systems are made off technical indicators (a moving average (MA) crossover, overbought/oversold conditions in an oscillator, etc.) But what are technical indicators? They are just a series of data points plotted in a chart; these points are derived from a mathematical formula applied to the price of any given currency pair. In other words, it is a chart of price plotted in a different way that helps us see other aspects of price.

There is an important implication on this definition of technical indicators. The fact that the readings obtained from them are based on price action. Take for instance a long MA crossover signal, the price has gone up enough to make the short period MA crossover the long period MA generating a long signal. Most traders see it as “the MA crossover made the price go up,” but it happened the other way around, the MA crossover signal occurred because the price went up. Where I’m trying to get here is that at the end, price behavior dictates how an indicator will act, and this should be taken into consideration on any trading decision made.

Trading decisions based on technical indicators without taking price action into consideration will give us less accurate results. For example, again a long signal generated by a MA crossover as the market approaches an important resistance level. If the price suddenly starts to bounce back off that important level there is no point on taking this signal, price action is telling us the market doesn’t want to go up. Most of the time, under this circumstances, the market will continue to fall down, disregarding the MA crossover.

Don’t get me wrong here, technical indicators are a very important aspect of trading. They help us see certain conditions that are otherwise difficult to see by watching pure price action. But when it comes to pull the trigger, price action incorporation into our Forex trading system will definitely put the odds in our favor, it will generate higher probability trades.

So, how to create a perfect Forex trading system?

First of all, you need to make sure your trading system fits your trading personality; otherwise you will find it hard to follow it. Every trader has different needs and goals, thus there is no system that perfectly fits all traders. You need to make your own research on various trading styles and technical indicators until you find a concept that perfectly works for you. Make sure you know the nature of whatever technical indicator used.

Secondly, incorporate price action into your system. So you only take long signals if the price behavior tells you the market wants to go up, and short signals if the market gives you indication that it will go down.

Third, and most importantly, you need to have the discipline to follow your Forex trading system rigorously. Try it first on a demo account, then move on to a small account and finally when feeling comfortably and being consistent profitable apply your system in a regular account.