Dennis Vydrin

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Forex Trading Expert

Dennis Vydrin

Dennis Vydrin Quick Facts

My name is Dennis Vydrin. My 5-year experience of working in the Customer Service Department and subsequently becoming the Head of it at Forex Ltd allows me to claim to be an expert in Forex industry.

About myself

I have a master degree in Philology (English Literature and Language) and good experience in trading Forex and CFDs. Besides I have good understanding of the FX industry, having studied many leading Forex brokers and tried their services. I focus mainly on trading currency pairs, preferably majors. I support a number of blogs and write articles for corporate website and other web resources.

What I offer

I would like to share my experience with the readers of SelfGrowth by publishing various articles on personal investment and Forex trading. My aim is to safeguard beginning traders from high risks of personal investments in currency market. I would gladly give advice on how to develop one’s trading strategy, how to open a trading account, what software and analytical materials to use.

Risks disclosure

Though currency trading is a highly profitable form of investment it can result in big losses. Neither of the information published on my expert page is provided as trading advice or a guide to action. You should carefully consider your investment aims before start trading and invest only the money you can afford to lose without considerable influence on your financial situation and lifestyle.

Free Articles & Book Excerpts

Articles by this expert

SelfGrowth articles and saved writing connected to this expert.

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Every participant of the financial market at the beginning of his way faces up a challenge of which forecasting method to choose in order to achieve success. The choice is usually made between technical and fundamental analysis. Sometimes the usefulness of technical analysis with its charting methods is contested. Patterns are necessary components of these charting methods used to forecast further trend direction.

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11 Rules of Successful Forex Trading When your trading is successful you feel great. But your life can turn into nightmare when you face the period of losses. You can spend weeks gaining money and lost everything within several minutes. This situation is well known to all traders. Hence ...

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Considering that forex chart combines several characteristics at a time – primary deposit amount, currency price and time for trading we should define the basic task: how much time should we need to make profitable transaction with certain deposit amount. To answer this question we should pay ...

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Currency market traders always admit that so called “common sense” has an influence on them and their expectations regarding results of trading. The market always experiences constant movement and formation of a strong opinion may lead to prejudices that become difficult to break in the end. That is why some traders advice to avoid formation of a strong opinion. Common sense is also advised to be contested as it works only in case of meeting of certain requirements.

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Sometimes you may hear questions like “Is success in trading achieved due to trading methods or to psychological aspects?” Definitely the right answer is that both things are necessary components and the point where these two spheres are crossed is called risk management. It determines ahead to some extent either successful result or a defeat.

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Different currency pairs available for trading in Forex currency market represent some kind of a prototype of a contract for difference. Indeed, currency market includes all the necessary components such as a pair of instruments, difference betwee Bid and Ask price (spread), marginal leverage, commission payment for using leverage.

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In English history date of September 16, 1992 has the symbolic title “Black Wednesday”. At that day American investor and philanthropist George Soros pulled dow British currency rate assuring the rise of financier and successful trader career, gaining on GBP/USD sharp fall (12%) more than $1 ...

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Have you ever questioned yourself why Forex exchange market is still popular gaining new adherents? Will it collapse or prosper? In my opinion, popularity of online trading is only surging and it is explained by several reasons. One of them is lack of government regulations and legislations. Being a citizen of any country you are entitled to trade with a broker residing in any country. Another reason is wide spreading of the Internet. A decade ago a few could boast having free wireless high-speed internet both at home and at work.

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Before you start trading Forex the first thing you should do is to change your way of thinking. Mind of an average person should be substituted by profiteer`s mind. Currency trading is a mind game, so those who do not possess a certain kind of thinking and analyzing are definitely doomed to failure from the very beginning. Drill of trader conscience is the first step in education of every successful trader, however, many beginning traders neglect this important aspect and at the end find themselves out of game.

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Ralf Nelson Elliott studied market behavior within the 75-years time interval. Examining yearly, monthly, daily, hourly, and half-hourly charts he tried to find recognizable patterns and reveal reasons of Dow Jones indexes behavior, to derive in such a way consistence and principles of prices ...

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According to the technical analysis of currency or equity movement, price actions take place casually with a certain trend component. This fact is based on scientific researches and bears high importance for those traders who desire to trade using rational scientific approaches. This means that every attempt to trade in short term patterns should be made only in accordance with a currently developing trend. Otherwise, an unprepared attempt to trade ignoring the current trend and indicator signals is doomed to failure.

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Below a list of nine grave mistakes in trading is presented. Avoid each of the given situations as they may dampen your financial aims and expectations. Trading with money you may not afford to lose One of severe obstacles for your successful trading is using money you cannot afford to waste, e.g. money that should be used for paying bills. This money is often called “frightened money” as eventually, when a trader assumes that he is trading with his vitally important money, his financial decisions are driven by fear and emotions, but not buy sound mind.

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Websites & resources

SelfGrowth-published websites, downloads, and contributor profile websites connected to this expert.

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Favorite Quotes & Thoughts from Dennis Vydrin

There is no secret about success. Did you ever know a successful man who didn't tell you about it?

Kin Hubbard

All you need in this life is ignorance and confidence; then success is sure.

Mark Twain

I know of only one bird - the parrot - that talks; and it can't fly very high.

Wilbur Wright

The best way to predict the future is to invent it.

Alan Kay

Contacting Dennis Vydrin

Phone: +44 (0) 20 8133 8701

Web site: www.forexltd.co.uk