Dmitri Chavkerov – Become Lean and Mean Forex Trading Machine

Dmitri Chavkerov - Advise for Traders through Money Show

Dmitri Chavkerov says that the lack of understanding about the real requirement is the main problem here. Many people fail to understand that one cannot accomplish without focus and training and rather jumps into unnecessary issues like self-belief. In order to attain success, one needs to be trained and prepared for it. This very same thing applies for successful forex trading as well.

 

Dmitri Chavkerov of Forex Peace Army Advises Traders To Become Lean and Mean Forex Trading Machines To Become Successful in Forex

NORTH PORT, Fla., Nov. 19, 2013 /PRNewswire/ — Dmitri Chavkerov, the founder of reputed forex trading platform Forex Peace Army, advises traders to become a lean and mean foreign currency trading machine in order to attain success in the forex trading space. Forex Peace Army has garnered much attention in the forex trading arena for its impressive free forex education section. Forex Peace Army is a trusted and recognized source online for gaining an insight about different systems in forex trading.

“If you want to become a successful forex trader, you have to become a lean and mean forex trading machine,” says Dmitri Chavkerov, CEO of Forex Peace Army.

According to Dmitri Chavkerov, it is important for traders to be lean and mean trading machines if they want to see success in this highly volatile space. There are few people who are too distracted with unnecessary ideas and perceptions that they fail to see the real picture. Only by gaining an understanding about the reality, a person can attain success.

“We all have fire and water inside of us. At the same time, we all have weeds and flowers inside of us. With fire we can burn weeds, and with water we can nourish flowers. I’ve seen some of those people that finish marathons under 2 hours and 30 minutes, and they all have something in common. They are all lean and mean running machines,” says Dmitri Chavkerov, President of Forex Peace Army.

Dmitri Chavkerov believes that everybody has got the potential to achieve but they need to focus on the goal and cultivate the necessary skill sets through rigorous training to achieve the goal.

“I used to run a lot when I was younger. One time, before I was about to go to another city in order to run a marathon, some chubby guy with a bunch of new age ideas asked me whether I have a goal for that marathon. I told him that I want to run it under 3 hours and 30 minutes. He asked me whether I could win the marathon with such time. I told him that I couldn’t, because most people that win marathons usually finish them under 2 hours and 30 minutes. This guy went on giving me a new age pep talk that I don’t believe in myself, and if I really believed in myself, and wanted to get first place, I would be able to. I told him that in order to win a marathon, I would have to train a lot harder, which I am not willing to do. This guy told me that it’s not really about training, but about believing, and if I truly believed in myself, I would be able to get that first place in the marathon that I was going to in a few days.  That was a load crap in my opinion,” says Dmitri Chavkerov of Forex Peace Army.

Dmitri Chavkerov says that the lack of understanding about the real requirement is the main problem here. Many people fail to understand that one cannot accomplish without focus and training and rather jumps into unnecessary issues like self-belief. In order to attain success, one needs to be trained and prepared for it. This very same thing applies for successful forex trading as well.

“I don’t know why, but this chubby guy with a bunch of new age ideas really turned me off. What I wanted to tell him is this: “Why don’t you believe in yourself, go win that marathon, and come back and teach me how I can believe in myself. You are out-of-shape ignorant new age flake.” But I never said that, because I did not want to hurt the guy, plus if I did say that, he would probably respond that he could go out there and win it, but he just chooses not to. Typical endless new age problem,” says Forex Peace Army CEO Dmitri Chavkerov.

Forex Peace Army has been instrumental in bringing out the fraudulent activities in the forex trading space. With its high tech features and reliable trading techniques, Forex Peace Army has gained a good reputation in the online forex trading field.

Dmitri Chavkerov states that though all other criteria like meditation, money management and other methods are important to be practiced, what is more important of all is to have a practical and focused system for trading.

“Giving 10% is excellent, setting goals is excellent, practicing meditation on prosperity is excellent, but all of those things are only meant to help you in becoming a lean and mean trading machine. Even a farmer who throws a bunch of seeds into the ground and gets a crop needs to have a practical systematic approach of collecting that crop and preserving it,” says Founder of Forex Peace Army Dmitri Chavkerov.

SOURCE: Forex Peace Army

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Forex Peace Army | Powerful Money Management Approach

Forex Peace Army | Successful Money Management for Yahoo Financial News

Forex Peace Army president Dmitri Chavkerov suggests:
“Take a note in the journal how much time you spent on watching each economic report, which one gave no trade, which gave a winning trade, and which gave a losing trade, and how much you won or lost. You need to trade with consistent amount of money, so that the monetary results of each trade are consistent”

Forex Peace Army Founder Dmitri Chavkerov Advises Forex Traders to Trade with Consistent Amount of Money for Achieving Consistent Trade Results

NORTH PORT, Fla., Oct. 15, 2013 /PRNewswire/ — Forex Peace Army President Dmitri Chavkerov advises traders to trade consistent amount of money in order to achieve consistent trading results. Forex trading is a highly volatile area and it is important to make use of the right techniques and methods in order to stay in the game. The general consensus amongst experts in the field is that traders needs to maintain a vigilant stand over the market and should employ the right methods that are capable of bringing them good returns.

“Take a note in the journal how much time you spent on watching each economic report, which one gave no trade, which gave a winning trade, and which gave a losing trade, and how much you won or lost. You need to trade with consistent amount of money, so that the monetary results of each trade are consistent,” says Dmitri Chavkerov, CEO of Forex Peace Army.

Dmitri Chavkerov is a leader in the forex trading arena who has been busting many unreasonable forex trading myths through his website Forex Peace Army. Forex Peace Army is a well-known online portal providing useful and reliable information on forex trading.

Dmitri Chavkerov has spent several valuable years researching on the various techniques and methods and understands the nuances of successful forex trading. Now he wants to impart his knowledge on forex trading to a large audience so that everyone will benefit out of it. He suggests traders to use either of the two powerful money management approaches, linear money management and exponential money management.

“You can either use linear money management approach or exponential money management approach. We can certainly apply this most powerful force to trading forex. There are two ways you can grow your money in forex trading. The first is called linear money management. The second is called geometric money management,” says Dmitri Chavkerov of Forex Peace Army.

“As for the case of linear money management, let’s say you have a system that gives you 60% winners and 40% losers. Let’s say you have a $10,000 account, and you decide to use this trading system to trade EUR/USD. Let’s say your stop/loss is 50 pips, and your take/profit is 50 pips. Let’s say your risk is 2.5% on each trade. So you put 50,000 on each trade. This way each pip is equal to $5, so if you win, your account goes up by $5×50=$250, and if you lose, your account goes down by $5×50=-$250. You decide to put 50,000 on each trade, until you double the account. So until your account is doubled to $20,000, you will be putting 50,000 on each trade, and be either making $250 or losing -$250. This is an example of linear money management.”

“And in the case of geometric money management, let’s say you have a $10,000 account, and you again decide to use the same 60/40 trading system to trade EUR/USD. Let’s say your stop/loss is 50 pips, and your take/profit is 50 pips. Let’s say your risk is 2.5% on each trade. So you put 50,000 on each trade. This way each pip is equal to $5, so if you win, your account goes up by $5×50=$250, and if you lose, your account goes down by $5×50=-$250. This time you do something different. Instead of putting 50,000 on each trade, you put 5 times of your actual balance on each trade.”

Though both methods are powerful, geometric money management has a slight edge over the linear money management system.  Forex Peace Army’s Dmitri Chavkerov comes up with an explanation to his stand as to why exponential money management is better.

“Many believe that the linear money management seems more logical, because if you lost 1 trade, and then won 1 trade, you would still have $10,000 left, but with geometric money management, you only have $9,993.75 left. This is correct, but only if 50% of your trades are winners, and the other 50% of your trades are losers. However, such scenario is highly unlikely in the real world. Most of the time, you will either have more losers than winners, or more winners than losers. In both cases, the geometric money management will work much better.”

According to Dmitri Chavkerov, it serves best to make use of geometrical money management approach. This way, if a trader’s system is overall profitable, the trader will double the account much quicker. If the system is overall not profitable, it will take much longer time to wipe out money in the account.

SOURCE: Forex Peace Army

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Forex Peace Army | Forex Review Site Giving “Scam of the Year Award” Story Featured by Reuters

Forex Peace Army | Reuters

One way to avoid the fraud du jour is not to be fooled by professionally designed web pitch pages. Read the reviews of the Forex services left by other traders carefully and share your opinion about companies you used with the Forex Peace Army traders community.

Forex Peace Army Highlights Frauds in the “Scam of the Year”

PR Newswire

LOS ANGELES, May 8, 2013

LOS ANGELES, May 8, 2013 /PRNewswire/ – The ForexPeaceArmy.com, a website that posts reviews of Forex products and brokers, today announced they will host their annual “Forex Scam of the Year” in which readers can vote for the worst Forex frauds nominated by their readers and documented by their staff.

ForexPeaceArmy.com staff listed four brokers and four non-brokers based on evidence provided by their readers in the Forex review system.  When possible the company contacted the companies in question to verify information and ask for their side of the story. The list is located at http://www.forexpeacearmy.com/forex-forum/forex-scams-year/

The scams include possible Ponzi schemes, companies that wouldn’t let customers withdraw money and trades that were invalidated.

“The companies listed are based on available evidence provided to us,” said Bill King, Manager of the Forums and Reviews sections of ForexPeaceArmy.com

Voting ends on June 5, 2013. Results on the company website are updated as votes come in, so the results will be known as soon as the poll ends.

“The unregulated and highly profitable Forex market is extremely attractive, not only for us as traders, but also for those who are best defined by the word scam,” he said.

“One way to avoid the fraud du jour is not to be fooled by professionally designed web pitch pages. Read the reviews of the Forex services left by other traders carefully and share your opinion about companies you used with the Forex Peace Army traders community. Together we can separate the good guys from the bad ones,” King said.

The company tries to help people who have been scammed.

“If you become the victim of a Forex scam, the Forex Peace Army will do everything in its power to help you to get your money back absolutely free,” he said. “We aren’t a team of the lawyers; we are a community of tens of thousands of traders ready to offer the help to our fellow traders in need. Our team of investigators carefully examines the case and tries to resolve the issue. In general, most companies would decide to come to a reasonable solution when faced with a legitimate complaint in such a public web site combined with solid evidence.”

About ForexPeaceArmy.com

The FPA database currently offers 37,143 reviews of 3,259 Forex companies. Not only is it the largest database of this sort available on the web, it’s also famous for its quality. All the reviews are read by the human editors and verified with the set of proprietary techniques before getting posted. We are very proud of our unique review and rating system that has helped hundreds of thousands of our fellow traders to stay on the safe side and greatly appreciate the help of all of our contributors.

Like in any other industry, successfully trading of the currency markets is not possible without adequate knowledge. The ForexPeaceArmy is trying to fill this niche with:

  • Free daily trading signals based around major economic news releases.
  • Quality set of articles discussing some of the most vital aspects of the currency trading.
  • Forex Military School, a free education course for beginning and advanced traders.
  • Forex traders glossary with definitions of economic terms for traders.
  • Vibrant community forums featuring hot topics and explosive discussions.
  • Traders Court where readers can post their complaints against companies after they have tried to get their issues resolved directly with the company.
  • Forex Scams Revealed where readers can learn of frauds.
  • Scam Alerts where readers can post information about problems with companies that the ForexPeaceArmy will review to see if they are scams or not.

The Forex Peace Army offers a low latency Economic Events Calendar, tuned up for news traders. The calendar is equipped with unique features like an events history and a historical charting module. It also supports local time zone adjustment and events filtering by currency or market impact for convenience.

Another tool is the Relative Currency Strength Calculator that can be used as a part of a trading system to help identify trends and significantly increase the probability of profitable trades.

SOURCE Forex Peace Army

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Dmitri Chavkerov | Lean and Mean Forex Trading PR Archive

View “Become Lean and Mean Forex Trading Machines” release by Dmitri Chavkerov posted on 298 Major Media Sites:
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