Founded in 1999 and based in El Segundo, Calif., MB Trading, is a direct access brokerage firm that develops and markets sophisticated yet simple direct access trading technology to online investors, allowing them to bypass the middleman and trade directly to the NASDAQ, NYSE and AMEX markets.

Over the past seven years, tens of thousands of investors have done just that using Wizetrade software. Wizetrade users do not have to exit the software when sending stock trading orders to their integrated brokers. MB Trading is the third online broker to integrate with Wizetrade, joining Fimat PreferredTrade and optionsXpress (NASDAQ: OXPS).

1) You have written several articles and conducted many classes regarding the importance of having a trading plan. Why is having a trading plan crucial for any trader?

A trading plan is like a roadmap to success, guiding you from entry to exit. Why would someone plan their vacation but not plan their trades, risking thousands of dollars? Every trade should have a clearly defined entry and exit point with a set stop loss and profit goal. The plan should follow the 6 Golden Rules to Money Management in the Steps to Success.

Baseball unlike the other major sports is primarily wagered on a money line. The money is a price which determines your return if your team wins the game. The advantage of a money line over a point spread is you team just has to win the game. There is no point spread to cover. This will make handicapping winning percentages greater than those in football or basketball.

In baseball betting you just need to pick the winning team. Some people get caught up in the price the ticket will pay. They place bets on the teams that offer greater profit returns rather than teams that are more likely to win. This strategy usually fails as the better is always chasing a large payout instead of just betting on the stronger teams.

Not always does the team with a better record considered a favorite. Many other variables factor in. Starting pitchers, ballpark site and streaks can change a money line price drastically. Pitching is the most recognized aspect in baseball handicapping. The stating pitcher is what many baseball handicappers focus on.

Many times popular well know pitchers that are scheduled to start will alter the money so much that a weak team with a poor record can be a expensive money line favorite. This is due to one reason and that is pitching. A profitable baseball betting system should always follow current statistic on all pitchers. That is starting pitcher, relievers and closers.

Ballparks vary from site to site. Not all ballparks have the same dimensions. Some are longer, some are wider and some are built in cities with high elevations. This affects hitting and pitching. Once again a profitable baseball betting system will keep current stats on this.

Baseball is a game of stats and when baseball handicapping you need to work in all the majors stats. A formula needs to be developed that evaluates all the current stats of both teams and determines the team with the better numbers. The team record is not really a major issue like the individual stats and match ups.

Remember baseball is a game of streaks. A profitable baseball betting system should always check for wining streaks, losing streaks, hitting streaks and so on. Usually if something has occurred 3 times in a row it is now an active streak.

Baseball games are played in groups called a series. A series usually is three games although occasionally you will 2 and 4 games series. Many times one team will sweep the series, that is win all the games. This is due to the individuals match ups at that particular time. Statistics and streaks can change quickly. What goes up always comes back down. A profitable baseball betting system will take this onto account.

There are 5 Greeks involved and we share go through them one by one.

Delta: The speed of the option’s price gain or loss against the gain or loss of the ‘mother’ or underlying asset price is known as the Delta. The Delta is a figure that shows us how fast or slow the option will move relative to its ‘mother’ or underlying asset. A Delta of 1 means the option price is moving at the same speed and direction as the ‘mother’ or underlying asset. A Delta of -1 means the option price is moving in the opposite direction for every point the ‘mother’ or underlying asset moves.

The probability of an option expiring in-the-money is also expressed in the Delta. An at the money call option has a Delta of 0.5; i.e., 50%, meaning a 50% chance of expiring in the money. A deep in the money call will have a Delta of near 1, or 100%, meaning a near 100% chance of expiration in the money. A very out-of-the-money call option will have a Delta of close to zero, meaning a near zero chance of expiring in the money.

1. Understand that there’s always losing a trades.

Losing in forex market is normal; you are unable to resist it but to accept it. Over confidence traders stand to lose more due to their mentally cannot accept losing. Winning in a straight line is called “lucky”. Never assume to win all trades.

2. Never increase lot size in losing positions.

Cut your losses when you realize a losing trade. Accept the lost and start if a new trade. Never increase lot size in losing trade because you will never know the market movement direction. Save your ammo for the new trade.

3. Give instruction to your broker to close losing trade.

All live account will have a broker put in-charge. Instruct them to automatic close the losing trade for you. Remember that all trade must have a stop loss position to prevent from running away. The next you might know is that your account was swipe out while you are sleeping. Normally your broker will alert margin call on your account, which will stop it from preventing it going to negative.

4. Trade carefully

Trade along with the moving trends if you are inexperienced. Never predict the market will go upwards or downwards. Go along with the flow and exit the trade when market begins to turn.

5. Don’t get emotion into trade

If you lose, means you lose. The forex market is as fickler minded as a play boy’s mind. No point having relation on your trade. Remember that market is volatile, always make a decision before entering a trade.

6. Forex is not a get rich scheme…

You might have heard a lot of story on becoming a millionaire on trading forex. It’s true but that come with a tough history. Take your time to study about forex trading and do all research that you need to know. One step by step at a time. I’m sure you will success one day.

7. Make decision by yourself

Making a decision is very important. The decision you make might be a wrong decision but you will learn the lesson. Rather than asking tips from stranger whether the market will be going up or down. Ended up, you will learn nothing at all. Be responsible on what decision you made.

Learn from those who fail and those who success. This will give you a great experience in your future trading journey.

If you are someone who is expecting to become very rich overnight by trading currency, then I am sorry to say you have got it all wrong. You have to take one step at a time. Be prepared to invest a lot of time into studying and understanding this trade before you set out with your money to invest. Just remember, start by absorbing as much knowledge about the market as possible, so as to lay a smoother route towards a successful Forex trading.

It is compulsory for you to at least familiarize with the different kinds of orders so as to open and close trades. Learn to use the tools available to you, like the charts and graphs which can help you to better analyse the market trends and hence, enable you to plan you next move. You have to be swift and know the right time to trade, this is very crucial to your success. So it is apparent to all that if you could make use of the visual tools effectively, you will not be too far away from your preferred destination.

Just as important in learning to use the analyze tools, you are expected to know how the Forex trading software function in the foreign exchange trading system. There is not other more direct way to get use to using the software but to constantly use it and master the way in plotting a course through the process.

Next, getting a reliable Forex broker is another important step. Choose someone who is experienced and honest, he or she could help you a lot in the trading and could actually teach you about the trade along the way. Usually these brokers also provide a demo account, so that you can practice how to trade first before the real investment.

Finally, the most crucial part to succeed in this path is you. You need to have the patience and the self-discipline to make it work. To say it again, this foreign exchange trading will not make you rich overnight. You just have put in more effort in learning and time is an important factor here.

FX market does not have a fixed exchange. It is primarily traded through banks, brokers, dealers, financial institutions and private individuals. Trades are executed through phone and increasingly through the Internet. It is only in the last few years that the smaller investor has been able to gain access to this market. Previously, the large amounts of deposits required precluded the smaller investors. With the advent of the Internet and growing competition it is now easily in the reach of most investors.

With the advance system now days, you can trade Forex market with as low as US$200 with a leverage ratio of 1-200. Even with a free service of market charting information, updates and news. That’s why now days there’s more and more transaction in Forex market. Market also became very liquid also due to small investor that came in, in quantity which changes the market environment.

As you can see that person are introduced to the exciting world of Forex Trading in many ways: friends, current events, newspapers, television, and many others. For those of you who are new to Forex, the following guidelines cover the basics of currency trading. You even can start which a demo account which is a simulation of the live trading account data feed. The Broker will allow you to trial out using a simulation of $100,000 virtual money to trade live market.

In Forex Market, there’s always risk.. So a Stop-Loss is always a must in forex trading. With good strategy and discipline, you will success in Forex Trading. Trading is a mind game; you must change your mental attitude first from a normal person to that of a speculator. Almost all traders I have met, except a few successful ones who really made millions and billions trading in the market, simply waste all their time trying to learn the easiest part in perfection, like about how to read data and charts, and trying to perfect entry and exit skills, etc. Trading is a mind game and without having a right frame of mind, it is a losing game even before it starts. Training a trader’s mind is the first step for any successful trader but almost all new traders neglect that part and that explains why more than 95% of traders are a failure in the long run.

Gamma: Gamma is derived from Delta is the odds of a change in Delta. It also informs in advance if the Delta could be changing. Gammas are positive for both the call and put. When options are deep in the money of deep out of the money the Gammas will be near zero as the probability of a change in Delta are very low. Likewise at strike price the Gamma would likely to e the highest.

Theta: Time decay is reflected in the option position as Theta. Options bought have negative Theta, which means that each day you do not sell that option, the time value is declining because of the time decay. In this case, time decay is making it worse for the buyer of the option. When you sell options, Theta is positive, meaning that time decay is good for the option seller.

Vega: How volatility affects the option pricing is reflected in the in Vega. In other words, its sensitivity to volatility. Options tend to have price increases when the underlying asset’s volatility increases. In this case, volatility is good for the buyer of an option and bad for the seller of an option. Vega is positive for long option and negative for short option.

Rho: Rho is how interest rates affect the pricing of the the option. When interest rates are high and it is good for the position, Rho will be positive. If interest rates are high but bad for the option position, Rho will be negative.