Top 5 Female Forex Traders in the World - SWAAY

Posted: 20 Aug 2020 01:58 PM PDT

Have you ever felt like you have to compromise between making money and pursuing your passion in life?

Maybe it's led you to make decisions that weren't in full alignment with you really are—the true essence of your soul. Maybe you feel stuck doing work that no longer lights you up or that you feel aligned with?

I know how you feel; I have been there myself.

I had chosen money over my passion, and I was hiding from my reality by convincing myself that I was happy simply because I could go to nice places and buy pretty things.

As a teenage girl, I saw my older sisters pursue their creative passions but have no interest in making money. My dad always joked that I would be the sensible one and get a "real" job. That joke ultimately turned into my reality.

Despite being a creative at heart and a performer in my soul, I pursued a route of becoming a qualified accountant and led a decade long career in finance, working with global firms closing multi-million-dollar deals. There were a lot of exciting perks that came with it: the big title, six-figure salary, travel and luxury. But the truth was, the actual work was incredibly unfulfilling and the internal politics ridiculously frustrating.

I had chosen money over my passion, and I was hiding from my reality by convincing myself that I was happy simply because I could go to nice places and buy pretty things. All I was really doing was numbing myself to the reality that, truly, I wasn't happy at all.

So, what do you do when you're about to enter the next decade of your life and you're feeling stuck, lost, and unsure of whether you have spent the past ten years chasing some version of success that you didn't get to define?

You sign up for a spiritual boot camp and commit to the massive discomfort of deep inner work and major self-reflection. At least, that's what I did. What happened over the following months brought massive uncertainty, judgment from others, and a lot of "WTF am I doing" moments. But in the end, I was guided back into alignment with my true mission in life.

But the truth was, the actual work was incredibly unfulfilling and the internal politics ridiculously frustrating.

So, did I choose my mission over the money?

Spoiler alert: I didn't have to and neither do you.

The belief that you can't pursue your passion and be abundantly rewarded for doing what you love, is outdated. In fact, it's a lie. And we can no longer let our definition of "success" be defined by this lie.

This is something I am incredibly passionate about sharing. I now work with women around the world, supporting them to uncover their unique gifts, lean into their talents, and learn how to monetize their passion so they, too, can build a profitable and purpose-led business.

Below are three areas you can work on to help close the gap between purpose, profit, and building a business that you love.

I know it is easy to skip over this part, but I highly encourage you make the time for yourself to complete this section. Whether you have a desire to start a business or already have a business, I promise you will find incredible value, clarity, and focus from completing this exercise.

So, did I choose my mission over the money? Spoiler alert: I didn't have to and neither do you.

I recommend that you make a cup of your favorite tea or coffee, grab your journal, get comfortable, and enjoy completing this process!

Step 1: Uncover your unique superpowers

Your superpowers are your unique gifts, talents, and strengths. This is what makes you, you!

What comes so naturally to you that you may have overlooked it as a real gift until now?
What do you believe you are excellent at?
What are you truly passionate about?
What is one thing you feel supremely qualified to teach other people about?
What do people typically come to you for advice, support, or help with?
What do other people say you're really great at?
What are your core personal values in life? If you are not sure what your values are, ask yourself these questions:
1. Who is the person I respect most in life and what are their core values?
2. If I could be more of one quality right now what would that be?
3. What people in the world do I dislike and why? (It is likely that your values are the opposite of theirs.)

Step 2: Create a bigger vision for your life

What type of life do you want to create for yourself?
What does your dream life look like? What experiences do you have, who do you spend your time with, and how do you feel each day?
How do you want to spend your days? What type of work would you love to be doing?
What type of world do you want to live in and what part do you want to play in creating that?
What type of impact do you want to have in the world?

Step 3: Create clarity on the type of business you desire

Why do you want to start a business?
Why should your business exist? Why now?
What type of clients do you want to serve?
How much money do you want to earn every year?
What type of products or services feel exciting for you to offer to your ideal clients?

When you have finished completing this exercise, I invite you to celebrate yourself for doing some powerful reflection work and soul-searching. Most people will never make the time to achieve such clarity, so feel excited that you are already on the path to creating some big changes in your life.

Are you ready for the next step?

If you're an ambitious visionary, a change maker, and are ready to use your unique gifts, it's time to take the next step. You have the talent to have a big impact on the world while creating massive financial freedom for yourself. You can live the life you truly desire, and I would love to invite you to a free 3-day live training I am hosting beginning Monday, August 24th where I will be showing you how to:

Grow a profitable, purpose-led business using your unique gifts and talents.

Breakthrough limiting money beliefs that are holding you back from creating the prosperous, purpose-driven life you deserve.

Overcome the fear of being seen in a big way and become boldly visible so you can fearlessly share your message with the world.

Secure your spot by registering HERE. It's going to be amazing and I am so looking forward to seeing you there!

Email info@lauratynan.com if you have any questions.

9 Tips for Short-Term Forex Trading Strategies In 2020 - DailyForex.com

Posted: 24 Aug 2020 01:35 AM PDT

Despite many people entering the Forex market with the idea to become millionaires, it is harder than merely opening and closing trades. Just a number: it is known that over 90% of traders lose money in the first six months.

However, with the right combination of effort, study, and advice, you can avoid the guillotine and become a successful Forex trader. In this article, we will take you into the best tips and tricks for short-term forex trading.

Because, as American singer Kenny Rogers said in his song The Gambler, "If you're gonna play the game, boy you gotta learn to play it right."

What is Short-Term Forex Trading or Day Trading?

Also known as day trading, short term trading is a popular investing technique that involves trades and positions opened and closed over a short period of time, usually within the same day.

Most traders consider it very attractive due to the profitability associated with the practice. However, it can also be dangerous as it often encompasses poor risk management and exposure to swings and high volatility.

It provides relatively smaller gains per position but has a higher frequency of trades. In the end, it produces a solid amount of pips every day.

Should you choose short term forex trading or long-term forex trading? There is no single answer to that question as it is all about your trading skills, your psychology, and the money associate to your trading account.

Best Forex Trading Tips and Tricks

In the investment market, it all depends on your trading style and your personality. However, most of the best short-term forex trading tips and tricks will be related to tools that will help you stay in control of your position and, therefore, portfolio.

Here is a list of the ultimate forex tips, tricks, and advice that can help in your trading performance.

Know yourself and the kind of trader that you are

Knowing yourself can be seen as an obvious task, but it is not. As every market is different, so is every trader. You have your own personality, emotional reactions, and goals.

Some traders are more comfortable with low-risk positions like a safety net, but others like the adrenaline of betting against the market. Who are you? If you are the kind of person that likes to follow people and leaders, perhaps you would like to be a trend trader.

On the other hand, if you are a kind of renegade person who always looks for a different approach, a hidden agenda, or the round pegs in the square holes. Then, you would fit better as a contrarian trader. Then keep that on your mind when developing your skills.

Choose the best trading platform for you

There are thousands of brokers in the industry, and each one is different from the other. Some brokers are better for beginner traders, and others are excellent choices for experienced investors.

Do you want automated trading? Do you prefer being extra protected in terms of regulation? Or do you like to trade on the go with mobile apps? Ask and serve yourself accordingly.

Every broker has its own solutions, fees, base currencies, and deposit and withdrawal processing times. The best option to check is to watch for broker comparison tables and after selecting one, opening a demo account to test all of the brokers' features.

Get experienced in more than one trading strategy

Mastering the Forex market should be your premise when starting your investment career. You should learn more than one trading strategy that fits your trading skills and styles.

In that way, you will see the market with a more holistic approach. This does not mean you will use hundreds of technical indicators, which is not recommended. But it can help you if you have different strategies to choose the best trading plan at every moment.

Start with a telescope and finish with a microscope

It will help your trading performance if you know what the current tone of the market is. For that, it is good to start your analysis from the bigger timeframe such as weekly or daily charts, and then go into shorter time frames such as 1 hour, 15 minutes, etc.

In this way, you will understand the whole trend and the direction the market is moving. Then, you will be able to identify potential short-term opportunities in market situations such as support and resistances, overbought or oversold conditions, or when it is not a good idea to go short or long.

Remember, the trend is your friend, even if you are a contrarian trader.

Check correlations

Correlations are a powerful tool to confirm trades but also to potentially double profits. Use currency correlations to your advantage and to evaluate the risks and profitability of traders.

Statistical correlation talks about the relationship between two assets. It could be positive, but also negative. It means that when it is positive, one asset tends to mimic the other, for example, the euro and the Swiss franc. On the other hand, when it comes to talking about negative correlation, one security goes the opposite of another.

Positively correlated pairs are EUR/USD, GBP/USD, and AUD/USD. Negatively correlated pairs are EUR/USD against USD/CHF or USD/JPY.

Long story short, you buy gold and also sell the DXY if the greenback is trading down. For instance, when you go long EUR/USD, it is natural to go short on USD/CHF.

Make a trading plan

Trading plans are the roadmap you will follow when starting your position. It should contain entry and exit points, stop loss, profit-taking, and risk/reward ratio.

The plan will keep the information about how much you are buying or selling, your potential profits, the levels to watch, and finally, it provides you with an exit point in case everything goes wrong.

Having a trading plan is one of the top items here in this list of Forex trading tips, as it will keep you in line with your objectives. But also, you should understand that the Forex trick is that you should follow your plan.

Protect yourself, manage your risk

Protecting yourself and your money is one of the cornerstones in your trading life. Remember that the market will open tomorrow, be sure your portfolio will be there too.

It is essential to calculate the risk associated with every trade and know when to wait and when to start trading. The market provides opportunities every single day, do not rush!

Finally, understand that it is better to stop trading when you are having a streak of losing days and take some days off. It will clear your mind, and you will return to the market with a sharp brain. Last but not least, never trade without stop losses and limit your risks.

Trade with facts, not emotions

This may sound basic, but it is not. Trade what you see, not what you hope to see. Wait for the right moment and keep your emotions out of the deal. I know that this is hard but understand yourself and learn how to deal with you.

Two intelligent Forex trading tricks are to maintain a clear trading plan and keep a detailed trading journal.

Keep learning Forex and be on top of new technologies

As Isaac Newton once said, "what we know is a drop, what we don't know is an ocean." The Forex market is one of the most challenging enterprises globally, but also, one of the most potentially rewarding.

Forex is hard because it changes every day at every second. What used to work in the past is not going to necessarily work now. It is imperative to keep studying and testing the market with new strategies, research, and both technical and fundamental topics.

Keep an eye on technology and use it for your advantage. Try back-testing software, automated trading, and technical indicators to enhance your trading and research.

Finally, keep a good internet connection that sustains your platform any time you want to use it.

Final Thoughts

According to a 14-year research on the Taiwanese stock market by the University of California and the Peking University, over 75% of participants quit after two years, and 90% of individual traders left the investment world after four years.

The study also showed that investors engaged in more traders after profitable periods due to overconfidence, and finally, they got burned.

This is why it is so essential to govern yourself accordingly and take the market seriously. Following these nine short term forex trading tips and tricks, you will have reliable tools to become not only a trader but a successful and profitable one.

At the end of the day, it all depends on you and how you deal with yourself. Keep your trading in shape with regular study, research, and testing. And win big!

Short-term Forex Trading FAQs

What is the Easiest Forex Strategy?

The easiest forex strategy is the one that fits naturally with your trading skills. More people love support and resistance, but it is all about you and how you like to trade.

What is the Most Profitable Forex Strategy?

That depends. All forex techniques are profitable, and potentially the most profitable forex strategy can be whichever. The secret is that you trade what you feel and fit with your trading skills and style. The money will come naturally.

How Can I Get Better at Forex Trading?

The answer is one: training. Forex evolves every day, so to get better at forex trading you should keep studying, learning new things, and testing different strategies. And finally, trade what you see, not what you hope to see.

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