4 Myths That Most Beginner Forex Traders Would Like to Believe

By Leo Dimilo

If you were to google the term "forex" you would get 57 million pages, most of which is complete garbage. Now I say this with a slight hint of reservation but understand that in the short 5 years of me trading on the FX market, I have come across outright scams, automated "systems" that supposedly would make an investor rich, gurus that profess huge returns if you allow them to trade using managed accounts, books that make outstanding claims ect. ect. The list goes on and on.

I am going to attempt to blow apart a lot of these "myths" that seem to circumvent the forex market online and hopefully, you will be able to use common sense when approaching these "products" and give you a solution that you can research to better help you with your trades.

Myth #1

You can easily double your forex account by using (stick a broker or site name here).

Reality- Any site or broker that can give you a fixed percentage per month (like 10%) is doing something with your money other than trading forex. That is the bottom line and it doesn't matter if you think that it must be real because the site has been paying for several months.

My own experience: I had a managed account with an unsaid site that was averaging 20% per month and had been in operation for a couple years. I was quite pleased with the results and then all of a sudden, they vanished into cyber space...along with my money. This was a lesson learned the hard way but I want to tell you that if it sounds too good to be true, then...it is too good to be true.

As an aside, there are thousands of sites that claim to be trading forex. Most promise returns upwards of 50-100% per month. It is simply not possible.

Myth #2

Automated Software is better than Human Based Trading

• I have heard this spouted about since I came online and started trading. The idea is this...by taking away the human emotion, you can make significant profits. Since Fear and Greed moves the market, a computer based product that just crunches numbers should be able to accurately predict the market.

Reality- Automated Software does not work because the market moves because of human greed and emotion....

Real life Example- a couple years ago, after seeing automated system after system touted, I finally took the plunge and bought some software that would make my trades automatic. Luckily for me, I tested the bot using a demo account because after a month's time, I would have gone broke. The bottom line is that a computer can only implement indicators, much like a human can.

As an aside, if someone developed a "bot" that could do the dirty work for you and succeed, why on earth would someone sell it? Think about it...if it is too good to be true, it normally is.

Myth #3

Trading the news is the quickest way to profits and even a newbie can do it.

Reality- While it is true that trading the news can result in some significant jumps in PIPS, it also has a few can of worms that most traders won't tell you about....

• Getting in on these trades has to be quick and most platforms perform typically slower than normal during these high volume times. The worst part of this is that you can't tell which brokerage firm is the better because the trades are seemless on demo accounts. The result is you get in trades but sometimes can't get out.

Real Life Example- I was subscribed to a service where the trader had a chat room in which trader's could come in. He had one of those fancy Reuters news tickers (that cost $2,500+) in which he could get the news at the exact same time that the banks got them. Basically, he would get the news and type "buy" or "sell" or "do nothing". When something hot broke, it would sometimes break for 60+ PIPS. That would have been great if I could have gotten in on the trade. However, I tried 5 different platforms and all of them were either very slow to open the trade (resulting in a loss of profit) or crashed at the time of the news....not good.

I investigated this and found that my problem wasn't just me. Other trader's had the same exact problem.

Now, my only way to combat this was to "guess" which way the market would go and place a stop/loss point on the other side just in case it went the other way. Then again...that is not trading...that is gambling...

Lesson learned: If you are going to trade the news, be prepared for some major frustration along the way.

Myth #4

You can make a lot of money consistently trading short term time frames (day trading)..

Reality- The key word is consistently. There are two things that are certain with trading forex. One, the market will rise....and two, the market will fall. With short time frames, you are basically guesstimating which way the market will go. And the market moves in these short time frames without much reason. In other words, it is no better than flipping a coin. Technical and chart analysis is absolutely pointless in these short time frames. If you don't believe me, spend a week watching these numbers and do all the chart analysis you want....Without knowing the long term trends, you are no more than a gambler betting red or black.

This said, there is only one PROVEN technical indicator in stock OR forex trading. And that is understanding retracements and how to chart using fibronacci techniques. Basically, it implies that when a market starts a pull back or rally, normally there are some keypoints that it retraces back to. The most important number is 50% (or the 50% retracement rule).

Now, I am not going to say that it is a slam dunk (there is none in trading). However, if you use history as an indicator, then you would see that the 50% retracement rule actually works more often than not.

Leo Dimilo has been trading forex as a hobby for 5 years now and has his share of bumps and bruises along the way. He has made alot of money AND lost a lot of money along the way.
Forex Trading for Beginners

Article Source: http://EzineArticles.com/?expert=Leo_Dimilo

5 Myths Of Dating

By Pramod Shet

Dating is a good phenomenon where in the guy and girl approach each other and meet to know each other. That is what we would have written fifty years ago, but now what it means is get the girl. The rules have changed but the basics remain the same.

Today we are going to touch upon the myths which guys have developed in their minds regarding dating:

Myth Number 1: I am not good looking.

This is a common term I have heard guys saying . Well, the truth is girls are not attracted by looks alone. Dear friends I do agree looks matter but only 10 %. Yes, 10 % of attraction is the looks remaining 90% is related to your personality and her perception about you. So, do not give this excuse to yourself the next time.

Myth Number 2: I am not rich enough to impress her.

I do accept there are certain breeds who go only for money and believe me you are better without them, but the beautiful ones do not go for Money alone. I do understand money gives a level of confidence in the Man, but that is not an essential ingredient at all. Your personality counts a lot.

Myth Number 3: I must tell her how much I love her on my first date.

Never to be late in telling your true feelings is what some of my learned students feel. I would say wait. Let her confess it. Believe me, if you say you like her and all the mushy things on your first date itself, she is definitely going to leave you and you would not have a second date to meet her.

Myth Number 4: I must give her gifts, flowers and costly presents every time I meet her.

The first time you do it, probably it might look the usual stuff to do, but in case you are doing it again and again, believe me you will lose her much faster than ever before. Presents is a No. Flowers is a No. Unless you both have met at least 15 times before and you have not given her that thing before.

Myth Number 5: I must praise her.

"How beautiful you look!!"."What a fantastic dress you have!". "How slim you look ! "are some of the compliments she receives almost every day. Provided she is beautiful, would you not sound like the 100 others who end up saying the same thing to her all the time? You would and this is what you must not entertain.

These are mentioned for your initial knowhow.

In case you want to know more, just click the link below.

Pramod Shet is a well known name in the field of Dating and Sexual Mastery. Given above is just tip of iceberg. To know everything in detail and to get a girl Click Here :- HOW TO GET A GIRL
Copyright 2007 Pramod Shet.

Please feel free to pass this article on to your friends, or use it in your ezine or newsletter.

6 Fitness Myths You Thought True Torn Apart

By Bryan Lee

When a large enough group of people believe in something, that thing usually becomes the truth even when that is not the case at all. There are many fitness myths out there that a lot of people think is true. In my last article, I wrote about 14 simple things we can do to change our body for the better. Applying even just one or two of the concepts mentioned in my previous article will go a long way in making you fitter. In this article, we will be exposing all these fitness myths that are actually stopping you from attaining your goals!

1. Muscle will turn into fat. This extremely popular fitness myth goes two ways. If you're fat and you hit the gym, your fats will shape themselves to give you the physique of a Greek God. When you stop training, your muscles will then turn into fat. The actual truth is that muscle and fat are actually two different types of cells in our body. Fat cannot turn into muscle and muscle cannot turn into fat. However, you can burn fat and build muscle. Someone who stops going to the gym will shrink in size as each muscle cell becomes thinner. They will only become fat if they eat the same amount of food, and the excess calories get converted to fat and are then stored in fat cells.
2. Doing lots of crunches will give you a toned midsection. If you're working out, one thing that you will definitely want is a toned midsection, whether it be a ripped six-pack for guys or a flat stomach for girls. Yet again, this is another myth that is misunderstood. In our quest to achieve this, we will do a lot of crunches and sit-ups in hopes of burning away abdominal fat. You will find over time that you can never achieve your goals no matter how hard you try. Doing lots of crunches do not burn fat off your stomach. If anything, you might actually see a slight increase in your waistline due to the muscles growing underneath the fat.
3. Spot reduction. This is a broader version of the previous myth. General belief is that if you have fat arms, then do more arms exercise to tone the area and burn fat. Likewise, the same goes for other parts like the calves and of course, the stomach. In reality, there is no such thing as spot reduction. You cannot reduce fat from a certain target area, it has to be overall. Doing exercises will strengthen and build the muscles, but if you want fat loss, you would have to consider some cardiovascular activities instead.
4. Lifting weights will make girls big. This is one very common myth that almost all of my girl-friends believe in. This is not true because firstly, the physical makeup of women makes it almost impossible to be muscular. Guys have a lot more testosterone (male muscle building hormone) than girls, and even so, there are many guys who hit the gym yet do not even look remotely possible as having visited the gym before. Most of the muscular women out we see on television are the exceptional. These are the people who have specialised personal training, lots of supplments, and maybe even steroids to help them achieve this physique. Weight lifting actually has many benefits that can help in your weight loss routine, such as increased metabolism, bone mass and strength.
5. Eating fat makes you fat. A lot of people consume too little fat because they are afraid it will make them fat. Fat is actually very important in maintaing a balanced diet. It is excess calories that makes you fat. Anything that causes large amounts of insulin to be released into your blood makes you fat too, like donuts, ice cream and soda.
6. If I skip breakfast, I'll be thinner. This is one myth that was mentioned in my previous article, but I felt that it is so commonly misunderstood that it is worth another mention.Breakfast jumpstarts your metabolism and makes you energetic. Skipping breakfast will make you feel hungrier throughout the day, which will actually cause you to eat more!

Bryan Lee is an author of Kumito (http://www.kumito.com), dedicated to helping people lose weight easy and healthy way. If you found the article above helpful, you can go to Kumito for more articles written by Bryan.

Luxury Cruises - Debunking the Myths of Elite Cruises

By Liz McDougall

Recently I’ve talked with some people that think that the luxury cruise market is only for the uber-rich, or star-struck contest winners that wander around Titanic-like ships with first and third classes. They worry about dress codes, fork placement, the dreaded last-day invoice, and a whole host of possible faux-pas they could make while onboard, like stumbling into the Captain’s personal brandy stash, and being thrown overboard for “bad form”.

First, let me put your mind at ease. Luxury Cruises, while being, well, luxurious, are very approachable and very affordable. The staff onboard the ships are used to folks experiencing a higher level of service, food and ambiance for the first time, and they are very happy to help you discover all there is to offer.

Here are some suggestions:

Relax and Talk to Experts.As you prepare for your cruise, be honest with your travel planner about your concerns. The more information they know about you and what you expect, the better they can match you to the right cruise line and right ship. There are some luxury cruise lines which cater to an older crowd and so the nightlife won’t be as expansive. There are some that have added educational seminars rather than Karaoke (both are fine, by the way…) - just be sure and communicate your likes and dislikes clearly so you’re not disappointed.

Sticker Shock Averted.Your travel planner’s motto should be, “We can work with any budget, What’s yours?”. Don’t be offended by this question; they aren’t trying to wrangle more money out of you. It helps them (and you) to weed out options which clearly won’t work - but will allow them to perhaps get some extras included by way of their relationships with the cruise lines if they have a little wiggle room. Be sure you know exactly what’s included and what’s not in the cost of your cruise fare, and consider flexibility in terms of dates, departure ports and even length of your cruise. It could be the cruise of a lifetime even if it is only a four-day, rather than a sixty-eight-day sojourn.

Shopping & Gambling OnboardI have a confession to make. I love to play blackjack, and I especially love to play on cruise ships. I can imagine myself in a 40’s spy film being watched by some tall, dark, handsome man who buys me a drink… and… I digress. Reality is, its usually my dapper tuxedoed husband desperately trying to keep me from losing our next month’s mortgage on one hand. The point is: have a budget in advance and stick to it. Things can add up quickly when you’re shopping and gambling onboard.

Do your Research, but Validate Them ProfessionallyI wouldn’t make a move without a travel professional these days. I simply can’t call the Internet, although I do love to surf for ideas and research and despite the fact that I can connect with people around the globe and get first-hand information, having someone that knows me, what I like, what I dislike and can tell me without fear of offense that I would be making a terrible mistake by doing such and such. That kind of unbiased “travel therapy” is crucial today, and I appreciate it.

So, dive in. Explore the world of the uber-rich and take a luxury cruise. It may be a once-in-a-lifetime trip, but aren't you worth it?

Liz McDougall is the Senior Staff Writer and Cruise Review Expert for CruiseMatch.com which specializes in helping travelers plan and prepare for cruises of all types. As an avid traveler, she loves to see and discuss the world with other lovers of travel.