http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/http://www.fxstreet.com/education/http://mediaserver.fxstreet.com/images/fxstreet-provider-logo1-en.gif7http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-11-17.htmlCan we class trading as gambling? Are these two activities more similar than we think and is profitable trading simply down to a run of luck? This is a question I have been asked on numerous occasions by newcomers and naysayers. "You are just a glorified gambler," is a comment which I have often had thrown my way and to someone who does not fully understand the structure and specifics of the money markets, I would agree that this could be taken as a fair statement. However, after structuredTue, 17 Nov 2009 13:18:47 GMThttp://www.fxstreet.com/education/trading-strategies/contact@tradingacademy.com (Online Trading Academy)http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-11-17.htmlhttp://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-11-10.htmlIndicators have both their advantages and their disadvantages. When most new traders are introduced to them, they get pretty excited as they believe that they have found the magic tools to solve all of their trading needs. They think that all that is needed to be consistently profitable in the Forex markets is to follow the signals of when to buy and sell when the indicator gives them, and then the rest will just work itself out. Ask any veteran trader if they do things like this, however, andTue, 10 Nov 2009 11:44:00 GMThttp://www.fxstreet.com/education/trading-strategies/contact@tradingacademy.com (Online Trading Academy)http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-11-10.htmlhttp://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-11-03.htmlWithout the right set of rules and more importantly the right attitude, attaining a successful trading career can and will be an uphill struggle from the very start. The facts don't lie and anyone interested in gaining a profitable experience in Forex trading needs to accept the facts from the moment they begin their journey. Statistics suggest that around 90% of traders in the market today lose, with just a margin of 10% attaining key success on a consistent basis. Various factors influenceTue, 03 Nov 2009 11:33:12 GMThttp://www.fxstreet.com/education/trading-strategies/contact@tradingacademy.com (Online Trading Academy)http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-11-03.htmlhttp://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-10-27.htmlOne of the most rewarding aspects of instructing for Online Trading Academy is getting to work with new students. As well as teaching in the ongoing XLT program with various graduates of Online Trading Academy, I also have the pleasure of welcoming new students to the world of Forex trading when I teach in the classroom from time to time. This has been one of those weeks in London where I have been teaching the Forex Trader course and as usual, my students arrived on the very first day, eachTue, 27 Oct 2009 10:28:26 GMThttp://www.fxstreet.com/education/trading-strategies/contact@tradingacademy.com (Online Trading Academy)http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-10-27.htmlhttp://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-10-20.htmlThis has been a great week. At the time of writing this article, I am currently sitting in the Online Trading Academy Headquarters in California, after spending a productive few days at the company's International Conference. I had the chance to spend some time hanging out with my fellow instructors in the ongoing XLT programs, share ideas and chat about our trading styles. I talked with Sam Seiden, Michelle Volmering, Steve Misic, Brandon Wendell and Eric Ochotnicki and it struck me onceTue, 20 Oct 2009 10:14:09 GMThttp://www.fxstreet.com/education/trading-strategies/contact@tradingacademy.com (Online Trading Academy)http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-10-20.htmlhttp://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-10-13.htmlThere is a lot of information on trading and I mean a lot. As traders we can use various tools such as charts, news, Fundamentals and Technical Indicators to name just a few. But what are the best ones to use? In a world full of opinion and hypothesis, it can often be difficult to decide on what route to take when speculating in the Forex markets. As I have stated many times in the past, the key to consistent results in the market is being comfortable with the set of rules that you as anTue, 13 Oct 2009 10:16:10 GMThttp://www.fxstreet.com/education/trading-strategies/contact@tradingacademy.com (Online Trading Academy)http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-10-13.htmlhttp://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-10-06.htmlI like to do things differently, that's a fact. One of the first "light bulb" moments I had during the start of my trading career was the sharp realization that if one is to be consistently successful in the Forex markets, their actions need to differentiate from the majority. The first time a new Online Trading Academy student walks into my classroom or joins us in the ongoing XLT - Forex Trading program, I say to them, "Remember, nobody cares about your money more than you do." The reactionTue, 06 Oct 2009 10:39:24 GMThttp://www.fxstreet.com/education/trading-strategies/contact@tradingacademy.com (Online Trading Academy)http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-10-06.htmlhttp://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-09-29.htmlA couple of weeks ago I wrote an article called "It's All in Your Head." I would like to thank everyone for their feedback on that particular article, as it seemed to hit home with quite a few of you out there and I enjoyed writing it very much. The last thing I was planning on doing, however, was writing a follow-up, yet much like trading for a living, unexpected events occur and you have to learn to evolve, so here I am revisiting this subject once more. As a writer and instructor for OnlineTue, 29 Sep 2009 11:08:55 GMThttp://www.fxstreet.com/education/trading-strategies/contact@tradingacademy.com (Online Trading Academy)http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-09-29.htmlhttp://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-09-22.htmlForex trading has many benefits, including great leverage, 24Hr markets and more transparent Fundamentals. In the ongoing XLT - Forex Trading sessions, I regularly talk about these benefits and each and every student in the class makes the most of these advantages on a day to day basis. We go through the importance of having a detailed understanding of Supply and Demand, managing trades unemotionally and scouting the markets for only the Lowest Risk, High Probability opportunities on offer.Tue, 22 Sep 2009 10:50:04 GMThttp://www.fxstreet.com/education/trading-strategies/contact@tradingacademy.com (Online Trading Academy)http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-09-22.htmlhttp://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-09-15.htmlThe world of Forex trading is by far one of the most interesting I have ever encountered. Here we have an environment where someone can work from literally anywhere in the world, call their own working hours and be their own boss. Even if we don't include the potential financial rewards, being a full-time trader has plenty of attractive benefits! I guess this is why many individuals around the world give trading a shot and dream of making a consistent income from it. However, as we all know,Tue, 15 Sep 2009 10:49:08 GMThttp://www.fxstreet.com/education/trading-strategies/contact@tradingacademy.com (Online Trading Academy)http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-09-15.htmlhttp://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-09-09.htmlThis week, I will focus on a simple, yet fundamental aspect of each and every trade: Expectation. In both the Online Trading Academy classroom and the XLT - Forex Trading, I like to constantly remind students of the market, that they need to be disciplined risk managers at all times, with a robust application of a sound trading plan. Consistency in trading comes from a solid combination of understanding Price Action, identifying the highest probability, low risk turning points and mostWed, 09 Sep 2009 10:51:05 GMThttp://www.fxstreet.com/education/trading-strategies/contact@tradingacademy.com (Online Trading Academy)http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-09-09.htmlhttp://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-09-01.htmlAs a member of Online Trading Academy's teaching roster, I have the privilege of working regularly with our growing community of graduates, some of whom I taught in one of their first classes. A high number of these students go on to enroll in the Extended Learning Track (XLT) program, where I watch their trading skills evolve with the markets on a daily basis. I find it easy to relate to the experiences my students have, as I can clearly remember the ups and downs I faced during my ownTue, 01 Sep 2009 10:31:08 GMThttp://www.fxstreet.com/education/trading-strategies/contact@tradingacademy.com (Online Trading Academy)http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-09-01.htmlhttp://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-08-25.htmlOne of the features of the Extended Learning Track (XLT) program is the trading and analysis session. The XLT - Forex Trading has this trading session at different times on different days in order to take advantage of the volatility spikes caused by the release of economic data from different parts of the world. Short term trading and analysis sessions can be very exciting at times. The week of August 21, 2009 was one of those weeks. On Sunday, August 16, 2009, China's main stock index fellTue, 25 Aug 2009 10:34:24 GMThttp://www.fxstreet.com/education/trading-strategies/contact@tradingacademy.com (Online Trading Academy)http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-08-25.htmlhttp://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-08-18.htmlWhile scanning the Forex news recently, I noticed quite a few disturbing headlines. June 10, 2009 SEC Pulls Plug On Alleged $80M Forex Ponzi Scheme The Securities and Exchange Commission yesterday charged two California men and two companies they control for conducting an $80 million Ponzi scheme that targeted Korean-American investors with promises of extraordinary returns from currency trading. July 9, 2009 GA Man Charged With Running $15 Million Forex Ponzi Scheme -CFTC A Georgia man wasTue, 18 Aug 2009 10:24:15 GMThttp://www.fxstreet.com/education/trading-strategies/contact@tradingacademy.com (Online Trading Academy)http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-08-18.htmlhttp://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-08-11.htmlBy Sam Evans, Extended Learning Track Instructor - Sam is filling in for Steve this week. Enjoy his article! It's not been an easy few months for Forex traders. Over the last nine weeks, a majority of currency pairs have been stuck in a truly indecisive range, fooling many novice traders into anticipating the next big breakout. I have heard constant remarks about the difficulty of these conditions and indeed such price action can be a little testing. However, over time, a trader learns to beTue, 11 Aug 2009 10:22:47 GMThttp://www.fxstreet.com/education/trading-strategies/contact@tradingacademy.com (Online Trading Academy)http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-08-11.htmlhttp://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-08-04.htmlThis week's article will review some of the new regulations affecting retail Forex traders with accounts in the US that are scheduled to take effect in August, 2009. The approval of Compliance Rule 2-43(b) became effective in November, 2008, but parts of the ruling are still being implemented over time to allow for changes to Forex trading platform software. This piece of the new regulation is designed to protect the US retail Forex trader from practices that the NFA (National FuturesTue, 04 Aug 2009 10:16:59 GMThttp://www.fxstreet.com/education/trading-strategies/contact@tradingacademy.com (Online Trading Academy)http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-08-04.htmlhttp://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-07-28.htmlThere are many strategies for trading volatile markets. During periods of high volatility in the Forex markets, price often moves large distances without resting or retracing. Many times these moves happen in different time zones as reactions to economic data or global headlines cause changes in trader’s sentiment. This means that on certain days, the entire daily move might happen in the Asian session or in the European session while the US Forex trader is asleep. In order to participate inTue, 28 Jul 2009 12:31:46 GMThttp://www.fxstreet.com/education/trading-strategies/contact@tradingacademy.com (Online Trading Academy)http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-07-28.htmlhttp://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-07-21.htmlIn the Forex markets, prices move for many reasons. When US companies build factories overseas, the payroll of those workers must be paid in local currency which means the US Dollar is exchanged for units of the local currency. When the goods that are manufactured in this factory are sold in foreign countries, the conversion of those currencies back into US Dollars eventually takes place. US companies that extend credit to overseas customers often need to hedge against the risk that theTue, 21 Jul 2009 10:24:02 GMThttp://www.fxstreet.com/education/trading-strategies/contact@tradingacademy.com (Online Trading Academy)http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-07-21.htmlhttp://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-07-14.htmlThis week's newsletter is going to focus on Forex websites I visit frequently when gathering necessary information needed in making short term trading decisions. I would suggest that you visit a few of these websites, and if you find the information useful, cut and paste the links into a document for use as a daily Forex checklist. I use a daily Forex checklist to help me stay focused. Because of the vast amount of information available on the internet, this task needs to be as organized asTue, 14 Jul 2009 10:28:48 GMThttp://www.fxstreet.com/education/trading-strategies/contact@tradingacademy.com (Online Trading Academy)http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-07-14.htmlhttp://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-07-08.htmlWhat is a trend? The definition of a trend is a series of higher highs and higher lows for uptrends, and a series of lower highs and lower lows for downtrends. As I mentioned in last week's article, there are different types of trends. The primary trend which is influenced by the economic or business cycle can last for months or years. This trend is best observed on daily and weekly charts. The intermediate term trend is usually a profit taking move counter to the primary trend which can lastWed, 08 Jul 2009 10:28:16 GMThttp://www.fxstreet.com/education/trading-strategies/contact@tradingacademy.com (Online Trading Academy)http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-07-08.htmlhttp://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-06-30.htmlSuccessful short term Forex trading is the goal of many new traders who enter the Forex markets each year. For them, life begins and ends on the one or five minute chart. It is important to understand that the trend on a small time frame chart may only be a retracement of the primary trend from a higher time frame chart. As a result, understanding the higher time frame trend is an important step in becoming a successful, short term Forex trader. Certain asset classes tend to be range bound andTue, 30 Jun 2009 11:24:14 GMThttp://www.fxstreet.com/education/trading-strategies/contact@tradingacademy.com (Online Trading Academy)http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-06-30.htmlhttp://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-06-23.htmlRecently, I had lunch with a fellow Forex trader that I met several years ago. During our conversation, I asked him how his trading was going. His answer was "I am still working at getting consistent." I asked him if he had a written plan that included specific trading rules and strategies to accomplish this goal, and he said no. I strongly encouraged him to do this vital task before he took his next trade. As we said goodbye, I wondered if the next time I met with him would we have the sameTue, 23 Jun 2009 11:47:45 GMThttp://www.fxstreet.com/education/trading-strategies/contact@tradingacademy.com (Online Trading Academy)http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-06-23.htmlhttp://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-06-16.htmlWhen I write the Online Trading Academy Forex newsletter, I give my opinion about what I believe is happening to the currencies of the world based on the news I hear, the experts I follow, and my personal experiences of the economic cycles I have seen in the past. This fundamental information helps me understand what reports and indicators the economists of the world believe will shape future events. The charts provide me with the clues as to where the buyers and sellers are waiting to act inTue, 16 Jun 2009 10:52:33 GMThttp://www.fxstreet.com/education/trading-strategies/contact@tradingacademy.com (Online Trading Academy)http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-06-16.htmlhttp://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-06-09.htmlLast week's article discussed two different long trade entries, the breakout entry, and the pullback entry also known as buying a dip. In this week's article, we will discuss the two most popular types of short trade entries, the breakdown entry, and the throwback entry, also known as shorting a rally. Some traders prefer breakouts for long entries and breakdowns for short entries because they like to buy and sell in the direction of the current move in price. Other traders prefer to let priceTue, 09 Jun 2009 12:14:51 GMThttp://www.fxstreet.com/education/trading-strategies/contact@tradingacademy.com (Online Trading Academy)http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-06-09.htmlhttp://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-06-02.htmlHave you ever heard the following expressions in trading? 1. Buy a dip 2. Buy high, sell higher Both of these are different ways for a trader to enter the markets they are trading that are trending higher. These entries can be used in any market, but certain types of entries will work better in the Forex markets due to the 24-hour trading session. Each type of entry has a set of rules including a method for entry, a first profit target, and a stop loss. Let's examine both of these strategiesTue, 02 Jun 2009 12:29:32 GMThttp://www.fxstreet.com/education/trading-strategies/contact@tradingacademy.com (Online Trading Academy)http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-06-02.htmlhttp://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-05-28.htmlSo much information comes at a trader during the course of the day. Much of this information is conflicting. The decision to buy or sell becomes a challenge. Information overload can harm your ability to become a consistent trader. The goal for a trader is to organize all the information into some kind of actionable strategy to become a complete trader. A complete trader of any market uses both key fundamental data and technical analysis to focus on the execution of his or her trading plan.Thu, 28 May 2009 06:05:40 GMThttp://www.fxstreet.com/education/trading-strategies/contact@tradingacademy.com (Online Trading Academy)http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-05-28.htmlhttp://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-05-20.htmlFor many of you, your trading and investing career is just beginning, and for others like me, it has been going on for a long time. My career began during the greatest bull market of all time, from 1990 - 2001. That market taught me a very important lesson that I want to share with you. It will help you understand trending markets, range bound markets, and above all, help you to control your emotions. If you have been watching the stock market at all since late 2007, you have seen a period ofWed, 20 May 2009 13:11:59 GMThttp://www.fxstreet.com/education/trading-strategies/contact@tradingacademy.com (Online Trading Academy)http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-05-20.htmlhttp://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-03-03.htmlSince the middle of last summer, one of the most reliable currency trades has been to short GBP/JPY, EUR/JPY, and/or USD/JPY on rallies. These currency pairs have had a strong correlation to the equity markets since the early part of what we used to call the "subprime mess," so as stocks fell, these pairs fell along with them. But now we are seeing this correlation fall apart, at least temporarily. As the stock market continues to plunge, reaching depths not seen since the 1990's, severalTue, 03 Mar 2009 15:08:50 GMThttp://www.fxstreet.com/education/trading-strategies/contact@tradingacademy.com (Online Trading Academy)http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-03-03.htmlhttp://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-02-25.htmlMany regular readers of this column know that I sometimes use cross-market analysis to find Forex trades. If you think that sounds complicated, keep reading and you'll see that it's easier than it sounds. You might recall last October's article, "Using Stocks to Trade Forex," where the S&P was used as an indicator to trade the GBP/JPY currency pair. Recently, a trade setup presented itself where I was able to use a major support level on the S&P 500 as an indicator to place a trade onWed, 25 Feb 2009 09:27:15 GMThttp://www.fxstreet.com/education/trading-strategies/contact@tradingacademy.com (Online Trading Academy)http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-02-25.htmlhttp://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-02-19.htmlQ) Hi Ed, I really enjoy your column every week. I have a question; I sometimes hear trading referred to as a zero-sum game. Could you please explain this, what does it mean? Ed Ponsi) Thank you for your question. There is a misconception among some traders that every trade must have a winner and a loser. There is a great deal of misinformation out there, and there have even been books published recently that incorrectly state that Forex trading is a zero-sum game. In order to clear up theThu, 19 Feb 2009 09:32:06 GMThttp://www.fxstreet.com/education/trading-strategies/contact@tradingacademy.com (Online Trading Academy)http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-02-19.htmlhttp://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-02-10.htmlQ) Hi Ed, I read your Forex articles and find them very informative and interesting. I have one question or concern which I hope you could address concerning U.S. Treasuries and the flight to safety we have seen lately. As most of the G8 countries are now in official recessions, investors have been flocking to U.S. Treasuries as a "safe haven", thus driving up the U.S. dollar. I don't see the reason. My belief is that U.S. Treasuries are not safe. With trillions outstanding, I don't see howTue, 10 Feb 2009 14:58:54 GMThttp://www.fxstreet.com/education/trading-strategies/contact@tradingacademy.com (Online Trading Academy)http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-02-10.htmlhttp://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-02-03.htmlGreetings from New York! Last week’s Fed meeting created an interesting trade setup; although the Fed did not change the Fed Funds rate, comments that were released caused EUR/USD to plunge by nearly 170 pips in a matter of minutes. This pushed the exchange rate down to 1.3104, just below the 38.2% Fib level on the hourly chart (located at 1.3112). This level had previously acted as support earlier in the week (see figure 1). The Fibonacci retracement was drawn from the January 23 lows ofTue, 03 Feb 2009 18:01:07 GMThttp://www.fxstreet.com/education/trading-strategies/contact@tradingacademy.com (Online Trading Academy)http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-02-03.htmlhttp://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-01-28.htmlBack in November, I wrote an article titled that mentioned a huge support level at 1.40 for GBP/USD. Well, after creating a temporary support at the 1.4460 area, we finally got there last week, with the British Pound collapsing to that level and beyond (see figure 1). A look at the big picture (monthly chart) shows why 1.40 was such a key area, acting as support in the early part of the decade. Back then, resistance formed near the psychologically significant level of 1.50, which could comeWed, 28 Jan 2009 11:50:51 GMThttp://www.fxstreet.com/education/trading-strategies/contact@tradingacademy.com (Online Trading Academy)http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-01-28.htmlhttp://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-01-20.htmlRussia's economy is in serious trouble. Russia is the world's largest energy exporter, and with the price of a barrel of oil sliding back below $40, there has been a sharp decline in capital flows to this Communist country. Russia needs oil at $70 in order to balance its budget, but with the world economy sliding into a recession, even conflict in the Middle East and threats of further OPEC production cuts haven't generated a sustained rally in crude. Without that oil money coming in, theTue, 20 Jan 2009 15:41:13 GMThttp://www.fxstreet.com/education/trading-strategies/contact@tradingacademy.com (Online Trading Academy)http://www.fxstreet.com/education/trading-strategies/lessons-from-the-pros-forex/2009-01-20.html