Full time forex trader

Good morning fx traders,

I would like to welcome Clayton Farnworth to the world of full time forex trading. As you may remember from previous posts, Clayton would be leaving his job at the end of March and as of tomorrow he will be trading from the comfort of his own home.

Clayton has spent a lot of time learning to trade and having been on numerous courses he was still finding it difficult to make money from the markets. Clayton asked me to mentor him one on one which I agreed to do and those of you who know Clayton will be aware how well he has been trading for more than a year with the consistency and from tomorrow he will be doing what he has been wanting to do for many many years.

Clayton's job did not entail using a computer so not having knowledge of how Windows work was going to be a real challenge in terms of learning to use trading software. Adamant he would not be deterred from trading due to a lack of knowledge in computers, he attended a course, bought a desktop and practiced for many weeks. I remember the first time Clayton used Advanced Get he was very nervous and painfuly slow. Now I would classify him an expert in the use of a few different trading software packages.

As you will already know, to acheive your goals you need to have determination and a habit of winning by overcoming challenges. Many traders have no goals and give up at the first sign of feeling uncomfortable. Well, you dont get much more uncomfortable than not being able to use a computer which is your first obstacle to learning how to trade. Clayton did it and then as you would expect went on to having losses. Unfortunately due to being ill advised his losses were far greater than the average persons losses and again many traders would have reversed their decision and not pursued a life in trading but that is what makes a dynamic trader stand out from the average trader. Clayton is a dynamic trader and one that deserves recognition by us for his commitment and determination.

Good luck Clayton and good dynamic trading.

You can read my forex update at Dynamic Trader blog.

Read Clayton and John's upates here.

Read Richard and Zaheer's updates here.

Click here to follow Javid Shaik on Twitter.

Click here to follow Anne Chapman on Twitter.


Javid Shaik
Forex Analyst

How Many Pips?

Good morning forex traders,

We are asked a question which seems to be a recurring. "How many pips should I aim for"? The answer will vary depending primarily on the type of trader you are. There is no right or wrong type of trader but there is a right and a wrong type of strategy. Those who have done our forex course will be aware of this and as dynamic traders should always look to apply the right strategy.

This particular week we have been out everyday. Monday in Silverstone, Tuesday in Windsor and Wednesday in Chelsea and Chiswick and today we are soon off to Covent Garden. My pip count as of 7am this morning is about 750 pips. My time taken to accumulate this was about 2 hours. I did not aim for a particular number of pips especially as I knew this week we would be busy but I cant complain with what I have got so far.

So how many pips should you be aiming for? Again this is dependent on what type of trader you are. I am a swing trader and as such my target is larger than a day trader. You should choose your own target. One that is realistic and once you hit it, lock in the profits and manage the free trade from that point on. What I have found traders try and do is choose a theoretical target which is usually adopted through greed. Be realistic based on the time you have available, your strategies and your experience.

The bottom line is I have spent a great deal of time identifying what works best then refined it and refined it again and today I expect a lot more than I did 5 years ago. If you try to achieve a goal way beyond your ability then you are destined to consistently fail and that will end your trading career abruptly. Aim for realistic targets without the emotion of greed raising it's ugly head. Be truthful and honest and dont try to run before you can walk.

Further your education with our other forex blogs:

www.dynamictraderblog.com
www.fxcps.co.uk
www.fxcps.eu

Follow Javid Shaik on Twitter
Follow Anne Chapman on Twitter

Good trading.

Javid Shaik
Forex Analyst

Low Liquidity

Happy new year forex traders.

Hope you have all had a fantastic holiday period and I am sure some of you will be disappointed it is coming to an end but the markets have to open at sometime so I for one am so happy we are only a few days away from forex trading with good liquidity again.

Some of you may have been stopped out on trades over the holiday season numerous times even with good technical analysis in place and you can blame most of that on low liquidity. Although the market will open today, Monday will bring in the new year with currency trading back to the liquidity levels we expect and need for successful trading.

As of next week we will start our Twitter updates so be sure to look out for them. Readers of this forex blog will know the updates from Saba Jackson, Bijal Shah and Jagir Singh but also make sure to visit our sister sites www.fxcps.co.uk updated by John Maher and Clayton Farnworth and also dynamictraderblog.com updated by Anne Chapman.

Lastly, I would like to remind all webinar members of fxcps to check their email for the competition to win a brand new computer.



Have a good dynamic trading week.

Javid Shaik
Forex Analyst

Clayton set to retire

Good afternoon dynamic traders.

I am very pleased to announce that the next person soon to be leaving his job is Clayton Farnworth. You will all know Clayton from his updates on our sister forex site.

This determined dynamic trader has spent time with me one on one basis and then joined in our online mentoring webinars and spent a lot of time learning what I had shared. Speaking with Clayton ealrier today, he was extremely happy with what he has achieved and so he should be. This month alone (8 trading days in total) he has done 30 trades with only 1 loss.

Clayton's plans are to quit working and trade full time along with updating www.fxcps.co.uk and soon after to have his partner Paula to quit her job too. Paula does not trade so Clay's income will be catering for both of them.

Well done Clay, both Anne and myslelf would like to congratulate you and wish you every success with your trading.

I have posted a few trades through Twitter since yesterday which have all made profits so I hope those of you following my free updates on Twitter are also grabbing these pips.

Good trading...

Javid Shaik
Forex Analyst

Analysis of analysis!!!

Good evening Dynamic Traders,

Today I just wanted to remind everyone how important it is to keep a diary of all your trades so at the end of each week you can analyze your analysis so you can clearly see WHY and HOW your weeks trading results were what they were; regardless of the fact if you finished with a profit or a loss.

Beeing my own biggest critic I ensure I give myself direct and honest feedback so if I'm doing well I know why and how; I then emphasise doing more of the same. If I've made mistakes and taken losses that I shouldn't of taken I again learn why and how; then ensure that doesn't happen again.

The whole business of trading is a learning process like anything else but in-order to get better you have to practice and be honest with the feedback. Some of my greatest learning and growth happens when I literally go through everything and spot things that may need to change etc.
There's always times where you're going to be wrong in this business so the aim of the game is to be very consistent in your approach, always ensuring you have an edge so each week will turn out to be a profitable one.

Good trading.

Visit The Dynamic Trader Blog.

Dynamic Trading Success

I wanted to give some congratulations to a few dynamic traders.

Yesterdays update mentioned Adrian had accumulated 350 pips using 3D. This morning I heard from Zaheer who had made approximately 300 pips with 3D. Saeed made 40 pips and closed his position off a little too early which if he had not would have netted him 150 pips but it was going into out of hours territory so he did the right thing.

A few days ago Bijal had accumulated 120 pips on the GBPUSD using Chicago I believe.

It is really good to hear from you all and a big well done for the success so far.

Thank you also for the excellent forex updates from Jagir and Saba.

Good dynamic trading...

Javid Shaik
Forex Analyst

8 Positions & 350 Pips

Good afternoon dynamic traders.

Those of you on the recent Dynamic Trader webinar saw my 3D strategy and since then Anne and I have had many emails thanking us for sharing this with you. We both really appreciate your kind words and thank you all for taking the time out to write to us.

I just wanted to give you a brief update on Adrian who emailed me with his trades using 3D which he decided to implement almost immediately. Today Adrain has taken 8 positions. 1 has broken even, 4 are closed with profits between 40-50 pips each and 3 are still running with profits. In total using 3D Adrian has accumulated a profit of 350 pips. Well done Adrian and congratulations on a good days forex trading.

We look forward to hearing some more success from the rest of you who attended the Dynamic Trader webinar.

I also know some of you who referred to my Dow analysis have gained quite some profit. Congratulations to you all as well.

Good dynamic trading...

Javid Shaik
Forex Analyst

Forex Updates

Good morning dynamic traders. I have not had a chance to do any updates on this forex blog and Anne has also not had any forex updates this week on the dynamic trader blog. This is primarily due to the arrival of our new car and although great to drive, at present it is very boring as we have to drive extremely sedately until we break the 1000 miles which we are finding is taking a bit of time.

A few of you have messaged me asking for a picture but at present I have not taken one other than what we took in the showroom which was under wraps which I have added below. I will take one soon and place the picture on here for those interested.

I would like to say that of all the cars I have bought, the Mercedes experience of this purchase was unlike any other so far. Once all the paper work was signed and finished with, we were taken on the track for a test drive (on their own car not ours) and then given a hand over where a specialist (not sales person) explains all the details of the car and syncs our mobiles and iPods. I have to say it was an excellent experience and not all Mercedes showrooms have the capabilites of this particular one so if you are looking to buy a new Mercedes Benz then drop me a quick line and I will tell you dealer we went to so you too can have the same experience.

We also have a Porsche on order and the Porsche experience was also very good but at present the Mercedes is streaks ahead. Unfortunately our BMW experience was very bland and I would say BMW have a lot of catching up to do to match either the Mercedes or Porsche experience.

Anyway, this update is to apologise for the lack of updates on Dynamic Trader blog from Anne and also to inform the car enthusiasts on here what we have been up to.

FXCPS will continue to be updated by Jagir short term and most likely beyond that too. Jagir I mentored originally almost two years ago and now trades with total commitment and a high degree of focus. He is a disciplined forex trader and so have asked for his daily analysis to help all of you currently learning to trade the forex markets. In the future I will approach other traders I have personally mentored to step forward and help you all with more trading analysis.

Good trading...


Forex Analyst

Javid Shaik

Why Trade Forex?

I have been asked for personal mentoring many times now and most times the person asking is looking to learn how to trade but unsure what to trade on.

Most people assume the stock market is the only place to go for trading and as this is the most common form of trading it makes sense to pursue this path. However, even though it is the most common does not mean it is necessary the best option.

Some of the reasons why we believe the forex market is far superior to stocks and shares are listed below.

• Forex is open 24 hours and 5.5 days
• Trade forex from anywhere in the world
• The biggest and most liquid market in the world
• Good leverage on forex unlike stocks
• Minimal transaction fees
• Forex has a handful of major markets to choose from and subsequently one does not have to search 1000's of stocks to find a trading opportunity
• Forex trends very well

The above are just some of the advantages that forex has over stocks. That said, trading forex might seem attractive (which it is) but like anything in life you have to learn first and forex is no different. It takes time to learn to trade the FX markets and I have said to everyone I have mentored not to expect overnight riches.

If you learn to trade forex the correct way then you will have a skill for the rest of your life and that dream you may have once had of not having to answer to a boss during the hours of 9-5 is certainly that much more real.

One of my first students who now is a good friend of mine and now a Dynamic Trader use to catch turkeys for a living. Now both Barry (the ex turkey catcher) and his wife (started trading in Feb 2008) enjoy a life free of employment and spend the days trading forex and taking long walks along the hills of Scotland.

Every trader will need to go through a process of learning to trade consistently. Don't try and rush this procedure, it takes time, patience and dedication. If you are willing to commit to your learning process then you have a far better chance of being a successful trader than one that rushes in blindly and without knowledge.

Good dynamic trading.

Forex Analyst
Javid Shaik