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William M

I am going to be 18 in 26 days and I want to become a millionaire quickly by trading either stocks or forex. I want to know in your opinion which of them would make the best vehicle to trade to make the easiest, quickest path to wealth? Also, when I say easy, I don't mean that it would be easy to do, but easy in terms of currencies and stocks to choose from and the least complicated to research out of the two. Good, reasonable answers would be much appreciated. Thanks!

valgraphie

A complete newbie to forex trading, I am having difficulties figuring out where to look for information, but also what exactly to look for. Commodities? Bank quarterly results?

Executive summary by Sacha Tarkovsky

One of the most inspiring stories I ever read, was how legendary trader Richard Dennis taught 14 people who had never traded before, to trade successfully in just two weeks.

Richard Dennis taught them three major points:
1. A simple method they could have confidence in.
2. Money management.
3. Applying the method with discipline.

1. Method
You should be using a long term trend following methodology looking for the big trends that produce the big profits and breakout trading is ideal for this.
If you want to win at online forex trading, you need to know about breakouts.

2. Money Management
If you start with a “breakout method” and base your trading method on it, then stop placement is obvious.
If you only trade significant breaks your odds of success will be high.

3. Discipline
Is perhaps the hardest part of trading online forex.
You need to apply your method with rigid discipline otherwise you have no method at all.

Discipline is all about experience and even seasoned traders find it hard to keep executing a method when a string of losses occur.

1. Market Wizards and The New Market Wizards ( edit )
2. Trader Vic

A true trading legend, who shares with us his thoughts on trading, money management and trading psychology, a fantastic all round book.
Trading is Simple, yet people try and complicate it.

Work smart not hard!

Executive summary by josh riverside

Online Forex trading is a business of risk. It is only wise to choose your online Forex platform providers and brokers with utmost care. What you need to do is consult online Forex trading reviews. Here, you will have access to actual assessments from small investors themselves, accurate evaluations from expert financial institutions, and helpful comparisons based on key market indicators.

Benefits of Consulting Reviews

Many reviews are written by veterans in the currency trading industry - people who have traded successfully for years. Online Forex trading reviews allow you to compare and contrast brokers, so that you can find one that is willing to handle your investment the way you want it handled. Finally, online Forex trading reviews give you access to the opinions of investors themselves, big or small.

Although the first quarter of 2008 ended on March 31, it wasn't until last week that the Federal Reserve Bank finally finished tallying all of the data and released its obligatory report on the performance of the Dollar. On a trade-weighted basis, the Dollar declined 4%, a figure which accounts for a whopping 11% decline against the Japanese Yen and an 8% decline against the Euro. According to the Fed's analysis, January was relatively kind to the Dollar, as traders remained uncertain as to how the credit crisis would affect the US economy. An outpouring of negative data in the next 4-6 weeks sent the Dollar spiraling downward, although it recovered at the end of March, as the Fed moved to build liquidity in the financial markets. The Fed also noted that it did not intervene in currency markets during the first quarter, firmly putting to rest rumors to the contrary. Forbes reports:There had been intermittent discussion in the markets of a coordinated foreign exchange intervention by the G-3 central banks, but the Fed report confirmed officially what markets already realized.

Are looking for new credit cards for your business or for your personal usage? Today having a credit card is not difficult anymore, many credit card issuer give special offer to get their customer. They are now competing to get customer. This condition in one hand will give much benefits for card holder, or anyone who are looking for credit card, but in other hand will create a new problem.

That's why you should be more selective to find the most credible credit card issuer. Credit Card Club help you to find the best credit card as you need. There are many credit card, compare the best one that meet to your financial condition.I recommend you to get the low interest credit cards. Why? If you are the type who like to make cash advances, do balance transfer credit cards or pay only the minimum monthly dues and leave balances in your account, check out the Annual Percentage Rates or APRs of various credit cards and you will note differences between them.

The lower the interest rate is the better. Many new entrants in the credit card business do offer APRs that are lower than what established card brands offer. And most of them advertise introductory APRs that can benefit cardholders who prefer to pay minimum dues.Please check these special offer no annual fee credit cards

The US Federal Reserve Bank is known for ambiguity and vagueness. The Bank of England, it appears, is not trying to emulate this approach. The Bank put an end to speculation about its near-term monetary policy by announcing that it does not plan to cut interest rates for at least two years. Apparently, inflation has breached the Bank's 2% target, and its internal models are forecasting that it won't be until 2010 that price inflation returns to a more palatable rate. This is bad news for the British economy, which is in the throes of an economic downturn precipitated by the housing crisis and would surely benefit from a loosening of monetary policy. By extension, the British Pound should also suffer a "correction," as a combination of inflation and lack of suitable investment opportunities will send investors rushing for the exits. The Financial Times reports:Mr King contrasted his position – and its focus on controlling inflation – with that of Ben Bernanke of the US Federal Reserve. “We did not fall prey to the sirens to cut interest rates further as some other central banks have done,’’ he said.

Read More: No interest rate cut for two years, Bank warns

The Euro rose to a three-week high of 1.5680 against the US dollar Tuesday after Wolfgang Franz, head of the Center for European Economic Research, or ZEW, said he thinks the ECB “will raise rates in the near future”, but “would recommend that the ECB keep rates constant until there is clear evidence the financial crisis is over”. EUR/USD initially dipped after the release of the economic sentiment survey from ZEW that came in weaker than expected, but then rose higher on the ZEW president’s comments. Germany’s economic sentiment index fell to -41.4 in May, compared with an expected reading of -37. But it’s not just a one-way street in the currency market today: US dollar weakness was limited somewhat as it got some support from higher-than-expected inflation data which showed that US producer price index for finished goods rose 0.2% in April, following a 1.1% increase in March, and core prices excluding food and energy, rose 0.4% last month, twice the 0.2% forecast. Such firm inflation numbers could persuade the Fed to keep rates on hold.

The US dollar also got a bit of support after Federal Reserve Vice Chairman Donald Kohn said the US economy will improve in the second half of the year and gather some strength in 2009. His cautiously optimistic outlook mirrors that of US Treasury Secretary Paulson. Kohn also said the Fed’s current policy stance “appears to be appropriately calibrated for now to promote both rising employment and moderating inflation over the medium term.”Aussie Dollar Shot Up AgainThe Australian dollar hit another 24-year high for the second straight day after minutes of the Reserve Bank of Australia’s last meeting indicated that the board discussed rate hikes for a “considerable time”. Australia is currently the odd one out among the world’s major central banks in that it is seriously considering raising interest rates while others are busy cutting. AUD/USD reached as high as 0.9620, its highest point since March 1984.

Forex TradingUSD/CHF fell below 1.0390-1.0400 to a session low of 1.0375. If it breaks below 1.0350, it could target 1.0300-10. Beware that USD/CHF is on the verge of breaking down from its double top, but the said bear target could provide some temporary bidding interest. If that gives way, more aggressive shorts could join in. EUR/USD broke above 1.5650 to a high of 1.5680, with 1.5700-10 its nearest ceiling. Its strength of holding above 1.5500 could send it on its way higher.Wednesday:Australia Westpac consumer confidence 0030 GMTBank of England minutes 0830 GMTUS MBA mortgage applications 1100 GMTCanada CPI 1100 GMTUS FOMC minutes 1800 GMTJapan merchandise trade balance 2350 GMTSource: www.gracecheng.com

Forex autopilot trading software offers robot-driven automatic trading of the forex market. Creators of these automated forex trading systems claim you can make easy profits with very little time invested, and without having to understand complex algorithms. In this review, I will show you how to determine if forex autopilot or robot trading systems are legitimate or scams.First of all, any forex trading system software that guaranteeing easy, consistent profits is an outright scam.

The forex market, like the stock market, consists of too many random factors. Anyone promising to be able to read the future like a fortune teller is a liar. Forex trading is similar to gambling. But what successful forex robot systems can do, is boost the odds slightly in your favor. Then, there will be a slight probability that you will make money over the long run.However, past success is NOT an indicator of future success for a forex autopilot trading system. Scientifically speaking, this is because the forex market has "no memory", that is, the future and past are unrelated. Just because an advertisement shows you an incredible "historical track record" does not guarantee future success.

This is why legitimate forex robot trading systems will have a disclaimer that there is NO guarantee of profits and that the product is for educational purposes only.This leads to a problem, though. When you purchase a forex autopilot trading system, by agreeing to their terms of service, you have given up all rights or guarantees for a useful product. They can now sell you COMPLETE junk, and since you agreed to take the risk, there is nothing you can do. Make sure that you can at least get a refund if you are not satisfied. Furthermore, try to search for reviews of specific forex software online before you make a purchase. In summary, just because a forex robot trading system made profits in the past does not mean it will make profits for you in the future. You should be very wary of forex software promising profits, as the random forex market is impossible to predict.

Make sure you read reviews of forex autopilot trading systems before you make a purchase, or at least make sure you can get a refund if you are not happy.Instead of hoping someone will give you a hands-free, mind-free way of making money in the forex market, the best investment is learning yourself how the forex market works. You will not be scammed if you understand and test the forex market yourself.