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Glenn Neely has crossed swords to traditional theorists of waves of Elliott and has developed the own approach to the market auctions which he named NEoWave Theory. Glenn Neely for the first time has faced the wave theory of Elliott in the early eighties when it worked in the petroleum industry. At that time he has become interested in a share market and has read set of books in this subject, but it, as he said, «especially has not excited me», and he began to study goods markets.

His first real experience of commodity trading has been connected with use trading systems. «I have paid thousand dollars for this magic bowl of Graall – trading system. My first lesson was that how many money you have spent for system, she does not guarantee success», — tells Glenn Neely. He continued independent education.« In the course of the year I studied different things. I have realized that actually all is much more difficult, than first it seemed to me », — tells Glenn Neely. However, as he said,« all has developed in a clear picture when I have read the short description of waves of Elliott ».

The traditional wave theory of Elliott, according to John Merfy «the Technical analysis of the markets of futures», states that the markets go upwards or downwards five waves: three upwards (or downwards) with two intermediate corrections. Glenn Neely at once has added to the arsenal waves of Elliott: «I have started to read everything that came across under a hand, but has understood that remains a lot of held back».

Characterizing the first disappointment the traditional theory of Elliott, Glenn Neely speaks: «There are too many methods of its interpretation. It is biased. I at all did not accept its flexibility. Meanwhile the large part of my career has passed in engineering escalating to make its more objectives. Perfection of the form of technical analysis which would be logical, system and not dependent on interpretations» was my main task almost for all operating time.

«Waves of Elliott are mostly based on sequences of Fibonacci and price laws, more truly, visual submissions of price laws. NEoWave adds to it the whole logic process with elements of vector physics», — explains Neely. That theory of NEoWave which has been thought up by Neely, has earned properly, «it is necessary to choose the markets corresponding to certain criteria».

First, «the market of the goods which do not have the finished cycle of consumption is required, i.e. the eternal goods. The corn, for example, will not approach: she has grown, it have eaten and have forgotten». Other factors as explains Glenn Neely, that «the current value is based on the past; time has no automatic negative effect on cost, and it concerns thousand goods and the present prices». Besides, he considers that «if the wave analysis should be exact it is necessary to use the data about a cash».
Many traders and analysts use the data about the prices of futures in the analysis on a method of waves of Elliott, «but the significant part of the mess concerning waves of Elliott, is caused by that that data» is used not, tells Neely.

In case you decided to participate in forex trading should start from learning the basics of this market to make sure you do not experience problems with this industry.

There is another option – you can hire professional traders to managed your trading account – read more about forex investment here. Also make sure to look for the info in a good forex book.

Speaking about transition from the broker to the trader, Reynolds notices that «it is required more ingenuity for work as the trader, than the broker because it is necessary to understand the basic reasons for market fluctuations». In the beginning of the career of trader Reynolds has studied the book about base concepts to evaluate importance of the economic information arriving within a month. «I should study figures. It is inevitable, if wish to be effective scalping trader.

When in 7.30 mornings on the panel data of the governmental accounts is flashed, I look at figures understand how much they can urge on inflation ». For example, if the monthly account on a price index of manufacturers of production on 0,2 % has exceeded expected indicators« in the market the demand caused by inflationary expectations as bonds will go down in price »will begin. As Eurodollar futures at the Chicago trading exchange are often sold in a tandem with futures for treasure bonds, Reynolds notices that during the day he steadfastly monitors spot prices on the exchequer bond.« If spot prices on the bond it is turned upwards traders working on (locals) will come and will start to buy up euro dollars », — tells Reynolds.

For the last weeks futures for Eurodollars bargained in the narrowest range – an interval in four-five tics for the March Eurodollar contract recently not a rarity. A major factor keeping the prices for Eurodollars as considers the majority of analysts. Despite it as considers Reynolds, «even within one-two tics it is still possible to earn money … always there is a demand for 1500 contracts and the offer of 2000 contracts».

Eurodollar futures are known for the sound liquidity.« Always there are 2000 contracts under any price », — tells Reynolds. Total number of open contracts on Eurodollar futures now constitutes 2 398 012. So that, even if Eurodollars fluctuate in a narrow range,« when they start to move, the lot in 1000 can turn up, and it quite justifies expectation. I take 700, 800 or 900 contracts because I know that under the following price will be 500. I am assured that I can leave ».

Though some traders leave a hall early in the morning, having concluded the successful bargain, Reynolds speaks: «I from those who is ready to remain all the day long. I love the auctions». However, in unsuccessful day «I limit losses and I go home». He characterizes the point of care: «It usually 100 tics in this or that party». One tic under the Eurodollar contract constitutes 25 dollars.

«Strong nerves are necessary in case of an error to have boldness to recognize defeat», — he speaks. To beginning traders of Reynolds advises to begin work, as well with elements. It is important «to have time suffices to increase bases of the understanding of branch, differently long you do not hold on. I spend one day for something new, and then I try to be fixed that has made, and I hope that this success will accompany me and in the future».

In case you decided to participate in forex trading should start from learning the basics of this market to make sure you do not have problems with this industry.

There is another option – you can hire experienced traders to do this job for you – read more about forex investment here. Also make sure to look for the knowledge in a good forex book.

Forex tools may help you in making technical analysis and in capital management, that can make the results of your trade much better. You can find all these tools on line and for free.

You can download expert advisers for the commercial platform you use. You can use these expert advisors to make your automatic Forex trading better or to make your own expert advisor for your commercial platform and for creating Forex strategy.

Yo also can download Forex indicators for your commercial platform. You can use these indicators for improving your trade strategy on the Forex market or for creating your own expert advisor for the commercial platform.

Calculator of pivot levels. Four on line calculators of pivot points will help you to develop pivot points for any period of time. Pivot points are used as the most important points in the market’s trend, the points where the trend can meet with the levels of support or resistance and to change its direction. The rules of generating pivot points are available along with the calculators. You do not need to download any programs, you just fill in a form and you get pivot points and the levels of support and resistance immediately.

Calculator of pip’s price will let you know how much one pip costs. You can use this calculator with currency pair that are “difficult” to work with. With the help of this calculator you will be able to find out the price in dollars of one pip for a lot of any size and and currency pair. You just fill in a form and you will get a pip’s price at the moment. And you do not need to download anything.

Calculator of the Phoebonatchi levels, it will help you to generate the basic values of the Phoebonatchi levels for any trend. These levels can be used as the most natural points of support and resistance for any currency pair. It is one of the best methods to organize a trader’s portfolio on the currency market.

Calculator of risks and profit, this calculator will let you to calculate the levels of risk and profit fast using different target and top levels when you open a position.

Forex strategies. Free trade strategies for the Forex market that suit to all traders. They include strategies based on technical indicators, on fundamental events and on clear movements of prices. All Forex strategies also include examples and detailed descriptions.

Forex hosting, this is a provided hosting space for your commercial platform and expert advisors. This is a good method to keep your trade strategy independent from your computer at home or at work.

These tools will definitely help you in your trade on the Forex market, but you shouldn’t rely only on the tools. Make analysis of the market and create trade strategies as with the help of the tools as by your own.

There are two options you can earn on currency exchange market.

You can learn the basics of currency exchange trading with the help of a nice forex book and do the forex trading personally.

OR you can hire professional traders to manage the money on your trading account and they will trade for you. Read more about forex investment.

There are five main aspects of the trade on the Forex market and every trader must know these aspects. They are:
* Fundamental analysis of the Forex market.
* Technical analysis of the Forex market.
* Capital management.
* Trade psychology on the Forex market
* Forex brokers.

It is vitally important to learn and to understand the basis of the trading if you want to get stable income.

Fundamental analysis.
Fundamental analysis is the process of the market’s analysis, that is made by learning “real” events and macroeconomic data regarding to the trade currencies. Fundamental analysis is used not only on the Forex market, it is also used for any financial planning and prognosticating. There are some terms that are the essential parts of the fundamental analysis: short-term rates of interest, meetings and decisions of the central banks, any macroeconomic news, global, industrial, economic, political and climatic news. Fundamental analysis is the most natural method of predicting movements on the Forex market. It is enough to use only fundamental analysis, but only in the theory; on practice it is usually used along with technical analysis.

Technical analysis.
Technical analysis is the process of the market’s analysis , that relies only on the numerical data about the market such like quotations, diagrams, simple and complicate indicators, the volume of demand and supply, last data of the market etc. The main point of technical analysis is the postulate of functional dependence of future technical data of the market on the data that you got earlier. Technical analysis is self sufficient theoretically, but on practice you should use both methods of analysis.

Capital management.
Without the right strategy of the capital management you won’t earn much even if you make clear forecasts of the future movement of the Forex market using fundamental and technical analysis. Capital management on the Forex market (as on any other financial market) is a complex set of rules that you develop proceeding of your own trade style and the volume of your capital. Capital management plays an important role in getting income on the Forex market; do not forget about it.

Trade psychology on the Forex market.
You understand that you have to learn two types of analysis and capital management if you want to become a successful trader on the Forex market; but many traders do not pay much attention to the control of their own emotions, although it is a very important point; the results of your trade must depend on your mind and intuition not on fleeting impulses. Controlling of your emotions in Forex trade is the search of balance between greed and care. You can use almost any of known psychological practices; they will help you to follow the chosen strategy. Professional traders often meet the following problems:
* Greed
* Over trading
* The lack of discipline
* Uncertainty
* Blind compliance with other’s forecasts

Forex brokers.
Every trader as nay other professional need tools for trading. Broker is one of these tools or on line Forex broker if you trade in Internet. Forex broker is a company that gives you information about the market in real time, and also implements your trade orders on the Forex market. Choosing a Forex broker pay attention to the following things:
* This must be a professional company that you can trust to
* The company must provide you with timely quotations
* Fast and precise implementation of your orders
* Not large straddle

There are 2 options you can earn on Forex market.

You can learn the basics of currency exchange trading with the help of a good forex book and do the forex trading yourself.

OR you can hire experienced traders to manage your account and they will trade for you. Read more about forex investment.

John traded all last year. He is still the beginner, but has already made hundreds of transactions. He enters into the transaction again. He has a plan. He operates risk. This transaction has nothing special among his other positions. There are no reasons to distinguish this transaction, but it nevertheless differs with something. He is not assured that he can trade today. He asks a question, why he continues to trade. In this transaction, right now, John feels superfluous emotional load. He entered into the usual transaction, and has made it as a symbol of an overall picture; has allocated it with deep sense. John studies what this transaction means for him. The majority of traders advise to take the day off, if you have such thoughts. But John is set by questions on the reasons for trade. He is not assured why he does it, and exaggerates value of routine trading actions. Many traders can achieve some short-term success; but it is very hard to fix success for a long time. Winning traders search for new problems. They improve skills and continue to enjoy game. But John feels stagnation. He is almost ready to leave. He should find answers. Do you see that trading completely corresponds to a life general plan? If not, you can wait for failure.

It is vital to know, who you are, where you were earlier and where you go now. You can understand it with your mind, but emotionally it is difficultly accurately to realize the place on a course of life and precisely to know what you wish to do in travel scales from this moment and till the end of a life. If the trader does not know answers to these fundamental questions, he, most likely, will allow unresolved problems to affect results of trade.

It is not easy to find answers to past and future psychological excitements. It is required some reflection and understanding that some problems will never be solved completely. So, what the simple trader should do? Some experts of trading consider that some people can independently get rid of emotional load. Really, it is possible to reach so much, only reading articles about self-improvement. If the person has deep psychological problems, he needs professional help. But for many traders the key to the decision of problems with load of emotions lies in self-comprehension practice. Psychologist Charles Rogers believed that past conflicts of people lie at once under a surface of their consciousness. If they simply persevering enough and will allow the mind to think freely, they could identify psychological problems. Basically, it is necessary to consider, whom the trader wishes to be, and impartially to compare this ideal to that whom he is actually. If there is a discrepancy, he will feel pressure and anxiety. The decision can be found in change of the purposes or the vital plan. For example, if the person is assured that he should be the good husband and the father, and time, which he devotes to trade, interferes with it, he will feel awkward and dual concerning trading. You should change something. It is not necessary to stop to trade, but it is necessary to investigate a problem and to think up the decision. Probably, it is necessary to allocate strictly certain time for communication with the wife and children. The main thing – attempt to dismiss these problems will lead only to troubles. Proceeding psychological conflicts demand understanding and the decision.

Before you decide to make a forex investment or start forex trading yourself, better find a good forex book and read more about foreign currency trading market – this will save you from lots of troubles and traps.