About

Hi. My name is Steve Schulman. I was a stockbroker for about a dozen years and used technical analysis to help me to make my trading decisions.

Through the years I found that some clients were psychologically better suited to trading than others, even though they all had substantial amounts of capital already invested for the long term.

The ones that were more successful followed certain rules.

My feeling is that in order to be a successful trader, be it in the stock market, the Forex, or any other market where you’re trading against other people, you must be disciplined in your approach to money management and strictly follow whatever trading strategy you choose to use.

Too many people over trade their account. They risk much too much on their individual trades. Sound money management is the backbone of any successful trading strategy.

Once you’ve assessed how much you will risk (percentage wise) for your trade, you must establish your entry and exit points. In other words, you should know where you’re going to get out if the trade works against you and where you’re looking to take profits. All of this must be done before initiating the trade.

I found it to be virtually impossible to make anything other than an emotional decision in the heat of battle. And make no mistakes about it, trading is a battle.

It is a zero sum game. Just as you want to make money, everybody else wants to take your money. You cannot let greed or fear enter into your decision making or you will be doomed to fail. That’s why you make all your decisions beforehand.

At FX Online Trading Report I attempt to analyze courses and software that people use to help them trade the foreign exchange.

In addition to basing my opinions and ratings on my trading experience, and, in some cases, my personal experience with the product and/or service, I heavily weigh my rating on other people’s unbiased opinions about these products and services.

By rating these products I hope to both speed up your learning curve and help you to avoid using products and/or techniques that I feel can be detrimental to your financial health.