Everyone is looking for the same thing in choppy or dangerous markets: a change in character that opens the door to a great buying opportunity or the most profitable short sale in decades. However, traders forget that cash is a position too.

Instead, we think of Buy, Sell or Hold most of the time. The average retirement fund lost over 35% in 2008. If they had taken the position of cash, they would have easily outperformed.

Survive first and the rest will follow. Your first job in a tough market is to avoid losing money. The next time you feel useless sitting on the sidelines, pat yourself on the back for taking on the 4th position – cash.

The Turtle Traders experiment proved to the world that one trading concept can be taught to many individuals, and replicated successfully. This is very similar to franchising a successful business, which in essence, is the founders’ purpose of outsourcing growth and expansion to other entrepreneurs – his franchisees.

Can trading be outsourced then? Say you have your own strategy and you would like someone to trade it for you, and free up more of your time? You bet. Trading systems can be programmed based on your strategies so they execute trades automatically.

These algorithms lack the singular force of nature we could always count on throughout our years of flipping stocks, futures, and currencies: they operate without the twin emotions of greed or fear.

That’s right, trading bots won’t panic when they find themselves on the wrong side of the market and won’t get euphoric after good news delivers a windfall profit. In other words, they don’t act or react to the financial markets like you and I, our neighbours, or those suits on Wall Street.

Most market players will fail due to a lack of discipline rather than a lack of knowledge. Despite that great truth, most of us are uncomfortable with the subject matter because we have deluded ourselves into thinking we are disciplined individuals when we are not.

By outsourcing our trading to systems, we eliminate the discipline hurdle – assuming you do not override your own system!

“We earn a living when other people put on their dumb hats and buy too high or sell too low. No, folks like us don’t build bridges, sell suits, or lead their flocks to salvation. To be realistic, we contribute absolutely nothing to society except pure liquidity and an aggressive attitude.” – Excerpt from The Master Swing Trader Toolkit

While most Entrepreneurs earn their income by creating value to society, traders don’t really do that. In terms of control, no other career can match trading. Without a boss, every research, decision and execution is at the trader’s disposal. Likewise, the upside and downside of the trader’s account is also at his fingertips.

Trading allows you to develop a skill set based on research, and tests your emotional and psychological limits very often. It is unlikely for a trader to get bored in his job. While it may get monotonous following trading rules month in month out, traders are free to take breaks, and pursue other interests such as philanthropy whenever they have the time and capacity/capital.

In essence, trading as a career gives you complete freedom without compromising your earning potential.

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The yen may weaken to levels against the dollar last seen during Bank of Japan intervention, according to a Royal Bank of Canada, citing technical analysis.

The break above 76.90 yen per dollar, the top of so-called cloud of the ichimoku chart, means the chances the Japanese currency will weaken against the greenback have increased, said George Davis, chief technical analyst for fixed income and currency strategy in Toronto at RBC. The yen tumbled to 79.53 as the central bank sold the currency Oct. 31 and has failed to retrace its losses, signaling a deviation from previous interventions, he said.

A close above 78.30, a level last reached three days after the October sale, would underpin recent dollar strength against the Japanese currency, Davis said. A close below 77.24 would shift the upward momentum of the pair to neutral and an ending below 76.72, the bottom of the ichimoku cloud, would signal downside risks outweigh topside risks.

“The market isn’t as eager to push dollar-yen down to the lows we were trading at in late October and challenge the BOJ,” Davis said in a telephone interview. “It does look like, technically, based on that breakout last month, that there are top-side risks that we can’t ignore in dollar-yen.”

The previous time the Bank of Japan intervened, on Aug. 4, it sold a record 4.51 trillion yen ($60 billion). The currency retraced all of its losses in four trading sessions.

Ichimoku charts are used to predict a currency’s direction by analyzing the midpoints of historical highs and lows. The baseline plots the sum of the highest high and lowest low in the preceding 26 trading days. The cloud refers to the area between the first and second leading-span lines on the chart and is used to show an area where buy orders may be clustered.

In technical analysis, investors and analysts study charts of trading patterns to forecast changes in a security, commodity, currency or index.

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The trend in the industry now is to blend the two approaches.

Price action is the leading indicator of the fundamentals; if you are not following price action, you are really not doing fundamental analysis. We often hear people say that a particular analyst may be very bullish on a stock, despite the charts looking very bad. They say technicals are bad, but fundamentals are good. That can’t be.

Technicals and Fundamentals are not divorced from each other. If the technicals are bad, then the fundamentals are bad. There is a big problem with fundamental analysts. If they issue a bullish forecast on a particular industry, what do they do if it start to collapse? The fundamentals have not changed, so they still issue buy recommendations all the way down. they have no stop loss.Whereas in technical work, if a bullish forecast starts to break down, we get out.

There are 2 ways to combine fundamentals and technicals.

If you are a fundamental person, you should first form your fundamental judgement as to whether you like something or not, then look at the chart to see if it is on an uptrend or downtrend. If it is on a downtrend. you may want to wait a little while – just use it to help you abit with the timing.

The second way is to use technical analysis as an alert. If you are a fundamental analyst and see something unusual – maybe a lot of volume coming into a particular security – it should alert you that something is obviously changing.

Technical Analysis is a skill set every investor should have.

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Here are some of the common reasons:

1. Your strategy aims to catch reversals, so it’s normal for you to suffer a few pips before the price reverses in your favour.

2. Your strategy is based on a breakout of support/resistance. Again, not all breakouts are perfect. Just like kicking a door down, it may take a few more kicks for the hinges to give way.

3. Your trades were an attempt to catch a falling knife, or some say jumping to face an oncoming train. Unwilling to suffer a loss, you continue to enter trades the more the trade goes against you.

4. You were applying a strategy for the wrong market. For example, a mean reversion strategy in a trending market, or vice versa.

5. You were not stocking to your strategy and are instead making random bets based on gut feel.

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Forex trading market has made a phenomenal business in today’s world. It’s because billions of people are trying to make investments here to gain substantial profit. It is generally found that the novice traders are bound to make mistakes in their trading life.

As time passes on, they learn from their mistakes and improve their trading skills. However, these mistakes can prove to be very costly hence, it is advisable that you take some professional guidance before you make any investment. You will be glad to know that many effective training courses have been developed in Singapore and can render you proper guidelines and help you become a successful forex trader.

How can a forex trading course accelerate a trader’s learning phase?

These forex trading courses have been devised to educate you properly so that you’re able to trade successfully with confidence. One major advantage of getting enrolled in a forex course is it will allow you to practice your trading skills that you have learnt on a forex demo account.

It will even provide you with many trading strategies that you can apply in the market. It is advisable that you should not try to cut corners or apply other methods to make quick profits. Because, if it fails to work then it may take a toll on your financial status. You have to trust the system and have believe on the guidelines that are been provided by the experienced traders. If you have lack of confidence, then you can try your hands on the demo account to build up your self-assurance. If you’re not experienced enough, you should always try to use your newly acquired strategies in your demo account.

Is a live trading course appropriate for a beginner?

A live trading course is not appropriate for a beginner. It will be much more worthy for an experienced trader to invest in a live forex trading course to enhance their trading skills. It will provide you trading strategies as well as offer you daily trading tips. It serves you the platform where you’ll meet with many like minded people and help you expand your network.

Lastly, whenever you’ll select a course you must make sure that the particular course that you’re choosing provides you with sufficient guidelines that you have been seeking. For this, you have to go through the details of the courses and measure the cost against the benefit. This will help you make proper investment in the markets and become a successful trader.

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This week’s FX intervention prompted a sharp sell-off in JPY to benefit of both USD and EUR, based on technical analysis, Barclays Capital says in note.

• Risk is for further USD/JPY strength in coming sessions toward 80.25-80.60 resistance area: Barclays Capital
• For now, Barclays Capital would look to fade strength against multi-year descending channel top near 80.65
• For EUR/JPY, Barclays Capital expects rise toward 112.70, although would look for a top to form ahead of weekly ichimoku cloud near 115.00
• USD/JPY little changed at 78.13
• EUR/JPY declines 0.4% to 107.86 yen

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