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Sense of traditional definition of a fractal it is possible to clarify fractal Forex as follows. The fractal is a set of points. Any set of points can attribute some number characterizing its massiveness named dimension of set. In simple chances dimension coincides with quantity of the co-ordinates necessary for the task of a point of this set. Simple sets have the whole dimension: a section – dimension 1, a square or a circle – two, a cube – three. But some sets have fractional dimension. Them also name fractals (fraction – fraction).

In the nature of fractals does not exist, but some objects characterized by “irregular behavior», it is possible to model successfully by means of fractals. How to distinguish a fractal, for example, on a plane? Basically it is not hard. It is necessary to cover set points with small squares and to count their number, and then to look, as the number of squares in a cover if the size of a square reduces twice it will be changed. If the number of squares increases, for example, between 3 or at time, the fractal means before us.

If you draw the schedule of change of quotations of any share (time intervals between the next bars should be small enough) in some practical situations fractals will be excellent enough models for such schedule. As well as any model, a fractal describes dynamics of quotations of the considered share only approximately. That accuracy of approach was satisfactory, it is necessary, that on the schedule there were “many” bars, and the schedule behaved “extremely irregularly”. The concrete sense of the quoted words is advanced by conditions of that practical problem which is supposed to be chose.

The fractal is a set of five bars possessed “corner” upwards or downwards. Such “definition” will be adjusted with traditional definition of a fractal hardly. To tell that five are much, it is possible only with very huge stretch. And “irregular” such behavior of quotations you will not name. Really we have two different items: the standard definition of a fractal (for the first time it was given by B. Mandelbrot]) and M. Chekulaeva’s definition.

It will be convenient to us to start from apart. Whether you mused of why technical analysis methods work in practice? It would seem, the life is infinitely diverse, the characters flashing on market horizon every day vary, there are new goods and the whole branches of production, maps are altered, and on schedules invariably there are same configurations. Why it is possible?

First of all, we will notice that the technical analyst deals only with a small time section of the schedule of quotations. Secondly, suppose, that the market is granted to itself. Then it is natural to consider that on change of parameters of the market material effect is rendered only by significances of parameters in a present situation of time and, partly, in not too remote past.

If these assumptions are executed, dynamics of the market can be described system of the differential equations. It is known that if to consider the choice of such system on small time sections a qualitative variety of the used equations is insignificant, and nearly always the system choice will be similar to one of «typical figures». The set of these figures can depend on number of the objective parameters characterizing a market position (first of all, it is quotations), but, besides, price range can influence and the latent parameters like «prevailing preferences», the described by J. Soros in it of “Alchemy of the finance».

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SFA is the regulating organization organized according to the Law on Financing facility from 1986 for the purpose to regulate work of members of the investment markets. SFA are regulated about 1,350 firms.

Securities and Futures Authority (SFA) regulates the firms attending to securities and futures in sector of financing facility. The organization purpose consists in that investors had firm reliance of safety of work with the firms which are under its control. SFA checks these firms on honesty of bargains and justice in relation to investors, and also on availability of a stable financial position and the qualified management.

SFA it is accountable to FSA (Financial Services Authority). FSA (earlier known as Securities and Investments Board) has been organized to observe of fulfillment of the Law on Financing facility which requires obligatory licensing of investment business. This regulating system co-ordinates and traces all forms of business in sphere of investments. Others accountable of FSA divisions are PIA (Personal Investment Authority), IMRO (Investment Management Regulatory Organization) and others. Now fundamental changes of system of regulation which will include SFA and other divisions entering in FSA, in a uniform regulating authority are conducted.

The firms regulated SFA, make bargains, or carry out consulting activity on a capital market or their derivatives. Shares, bonds, options, the corporate finance, financial futures and urgent commodity futures for metals, petroleum, grain, coffee and others here enter. These firms work both at exchanges of Fantastic Britain, and behind its limits. Their incomes render essential help to the British economy.

About 1,350 firms are under supervision SFA. Many of them have a long and successful business family tree; others – newer enterprises made thanks to demand for new or special programs and services. Approximately half of them are the British firms. The others are the companies from the North America, Japan and the Western Europe, with branches in Fantastic Britain.

When the investment company enquires the work permit in the United Kingdom, it always passes check at SFA and agrees with the further regulation of the activity by this organization.

How regulation is carried out?

Nominee consideration – is advanced conformity by conducted firm of activity to investment business.

Supervision – firm activity is traced in the various methods, including visits of inspectors, the analysis of financial reports and daily bargains, and also analysis of complaints of investors.

Check – possible abusing with application of fines to firms and the persons hired by these firms are investigated

Business support – working out of rules of granting of corresponding services to investors.

The estimation of financial risks – is evaluated a policy of firm in the management plot by risks, and also practical actions of firm on their cover.

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When the beginning trader starts to have problem in the trade, its first reaction is the thought that for success in the market he should learn to predict price range. Having made the minimum efforts he will find out that for long-term predictions use the fundamental analysis, and for small-term – technical. If our beginning trader investigates history of the prices of that market on which he works, he will find out that it seems like repeating patterns.

For a long time the markets go upwards and downwards long cyclic waves. If he looks attentively he can find out certain small-term figures which repeat all again and again on the schedule. After this he will open for himself the world of mathematical indicators, he will find out that certain combinations of indicators and figures have property to repeat – often about main tops and hollows.

Having found out these repeating patterns of different kinds, it quickly calculates fantastic sizes profit which is possible if someone undertakes right actions during the right moment.

It is no wonder that our beginning enthusiast will come to a conclusion that the market it is something that repeats time from time in the various methods. And if he can learn characteristic figures and cycles, the huge profit will start to flow in his pocket. There can be markets organized so that they constantly repeat themselves over and over again in the certain ciphered form. And if our trader can split this confidential code number it will be possible not only to get huge profits, but he can avoid losses in general.

Our trader starts to pursue this aim, using the accessible literature. Probably, mail will bring to him the offer of special trading systems which absorb interests from the certain patterns, the qualified experts known to a narrow circle. As such systems are often evaluated in thousand dollars; our trader can assume that they should be working as trading instruments.

Brochures about these systems often contain tales about legendary traders or, on the contrary, about traders-hermits who have found out a secret of the market and have made on it millions. By means of various means the seller has received these secrets and now he agrees to inform them only with several lucky beggars’ traders – for certain compensation from their party. Similar tales strengthen belief that some traders gaining the huge money have achieved this success thanks to that they have found out something about the market that the super professional can know only.

But despite enormous quantity of such methods of a prediction in books, trading systems and other products, within any year about 75 % of traders lose money. If to take longer period of supervision lose money about 95 % of traders. Nevertheless practically anyone from traders does not question himself a question on, whether there are basically suitable to use repeating patterns of the prices.

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Before to make travel you should buy the basic concepts with which we will operate. First of all, it is necessary to tell that the brain of the person constantly emits the electric impulses named rhythm of brain activity. These rhythm has two indicators: amplitude and frequency.

The amplitude is a size of an electric impulse, which is measured in microvolts.

Frequency is a speed of change of a rhythm (how many time the electric impulse reaches the maximum value for a second), measured in cycles in a second (hertz). On frequency a rhythm of brain activity is divided into four categories: an alpha, a beta, theta and delta. The combination of these rhythms also defines that condition in which is intelligence.

Any condition, in which you are, consists of whole “symphony” of rhythms, and each of them makes the characteristic impact.

Beta rhythm. From normal thinking to a panic.

In your consciousness one thought replaces another, and you cannot stop their continuous movement. But, when you concentrate attention to some thought, it seems to you that speed of a current of thoughts has a small decreased. Your heart beats rapidly, blood pulses in temples, breath is rough, and it seems to you that you cannot consider a situation normally. It seems that your intelligence does not submit to you any more, and frequency of beta rhythm has risen.

A brain usually makes beta rhythm, when you are in a wakefulness normal state, but the considerable quantity a beta rhythm can lead to occurrence of emotional discomfort. A beta rhythm associates with logic thinking, the choice of problems and concentration of attention. This rhythm allows us to operate actively, but we should know, how to control them. And, knowing it, we can use them more effectively and to reduce the dependence on them.

Alpha rhythm.

Alpha rhythm is generated by intelligence when the person dreams, makes up, when visualization becomes more active. These waves also associate with the relaxed condition, with perception. Some people extremely deeply plunge in an alpha condition and see the world surrounding them through an imagination haze. Frequently they even rejoice to that it is possible to escape surrounding reality.

The most widespread problem connected with an alpha rhythm is that it is not enough of them for connection with other rhythms of brain activity. Without alpha rhythm it is impossible to remember dreams after awakening even if you remember that they were bright, colorful and made strong impression. Without alpha rhythm you cannot recollect those thoughts, which came to your mind in a meditation condition even if you remember that you had many sensible thoughts, which you wished to use. When alpha rhythm disappears, connection with subconsciousness is lost.

Use to control rhythm of brain activity and you will get success quicker.

It is a must to gather as much info about Forex market as possible. Because this info will help you not to lose much money on Forex trading or Forex investment.

Surely not a single piece of knowledge can be a 100% guarantee against losses, especially on Forex market, but sometimes even one Forex books can be of huge service to you.

Traders say that they can see losses, which a position brings, but it is not clear for what reasons, they continue to go forward and to conclude the bargain in any case. They are paralyzed. It is plain truth that the part of the trader, who continues to go in a self-destructive direction, wishes to lose for any reasons. One of them is that this part of trader will feel more comfortable. In a case with traders, who has nightmares, they replayed repetition of the transaction, which will bring them self-hurt so many times that for them it already became as something right and comfortable.

Dread to reckon positively.

One of principal reason on which traders make such negative tales is that they are worried to reckon positively. Sometimes this dread grows out of that in the childhood someone from members of a family said that it is not correctly to reckon positively. Parents could be worried that the positive thinking can lead to negative results. Such dread is natural, but not the right conclusion, usually arisen that experience has prompted situations, when the positive thinking led to already negative consequences. The dread of positive thinking can have roots as both in religious beliefs and in a low self-estimation. Some religions warn members of the churches to reckon positively. It is considered that it is caused by own ego. The low self-estimation also can make dread of positive thinking. If you consider that you are not worthy of positive results, you can be worried of consequences to reckon about something better, than you deserve.

Nightmares as escape.

Our dreams are possibility of an exit to emotions, which we do not want or we are worried to express. Traders, who constrain the negative emotions, are under risk of that these emotions leave through dreams, which will plunge them into a prompt stream of negative feelings. One trader saw the dream, in which he hopelessly tried to leave a certain room. The problem consisted that he has been paralyzed, and in a room there was no exit. He did not realize that the exit from a room would not solve his problem. It was rather necessary for him to leave not from the room, but from a condition, caused by dreadful feeling of that he has lost the control. This trader dealt with painful not expressed emotions from the childhood. He has never had companies of people, to which he would trust enough to share these emotions. As a result, these emotions have started to haunt him in the form of dreams.

You shouldn’t worried to reckon positively. Try to change your views on life and trading, it will be simpler for you to live and to work then. It is not necessary to hide your emotions inside, communicate with people, and share your thoughts with your friends. Excellent luck!

It is vital to gather as much knowledge about Forex market as possible. Because this info will help you not to lose much money on Forex trading or Forex investment.

Surely not a single piece of knowledge can be a 100% guarantee against losses, especially on Forex, but sometimes just one Forex books can save you much money.

You should expect success. Any your thought should start with it. Are you annoyed with yourself when you do errors? – Or you speak to yourself that next time you will achieve larger success because you know much and you are able to become an brilliant trader! Be the own admirer and trust in yourself. If you believe that you can make something, in the end you will find a right way. When you are convinced that in the end everything will be fine, you physically and intellectually are silent. Then you can better concentrate on the trading process that will promote more smooth work, which unconditionally will lead to positive results. And on the contrary, the negative relation cultivates doubt seeds. It reduces a self-trust, which leads to a negative self-estimation. Then it causes concern, which leads to concentration infringement. Now the trader becomes strained and too cautious that in turn leads to terrible work. The fallacious cycle has become isolated!

You should have positive self-estimation.

Where are concrete instruments to break a cycle and to be pulled out from falling? The instrument number one is the positive self-estimation. All of us speak with ourselves in thoughts. Believe in that you speak to yourselves. The written word is also the powerful instrument. Read articles and books about positive thinking. Such books tell about desire to win and belief that you can overcome any circumstances. These are very inspiring books for traders.

Then you should behave so, as if you already there, where you wish to be. Adopt behavior, manners, gestures and style of communication of successful traders. In addition to autosuggestion and reading, develop mental pictures. Imagine what you are going to do with your riches or how you wish to live. Reckon of force, which gives you money to start any business what you wish or to make life of other people better. Imagine the house of your dream. Program the subconscious, as though you are already there. Dare to dream. Visualization is fantastic force of getting the desired.

Autosuggestion, words and pictures… What else? Look what surrounds you. Your success in trade will be as well a product of environment surrounding you, and I speak not only about an office place. Look at people, who surround you. Do they support your actions? Surround yourself with people who trust in you, smile, and concern with enthusiasm everything what they try or do. The best Olympic athletes always have friends and a family, supporting them at each stage of a way. You also should have such people around you, if you want to get success and to become really profitable trader.

Hope this article will bring some use for you and you will see positive results of your work in the nearest future.

It is vital to gather as much info about Forex as possible. Because this info will help you not to lose much money on Forex trading or Forex investment.

Surely not a single piece of knowledge can be a 100% guarantee against losses, in particular on Forex market, but sometimes even one Forex books can be of huge service to you.

Jack Bernstein is one of the most known traders in branch of futures, has started to attend to trading “casually” as he has told in interview FWN. Bernstein was the psychologist and has responded to the announcement in the newspaper about “futures”. The broker started to call him, and Bernstein has opened the account. «I have achieved quick success which has turned to quick failure», — Bernstein speaks. At that time he arrived, exclusively being guided by recommendations of the broker. Then Bernstein «has rearranged, has attended to formation and the beginnings independently to attend to trading». Now he represents to be the active trader, but participates in the auctions by exclusively technical method: out of an exchange, from the screen.

«My work always has been technically focused, with application of price laws, seasonal prevalence and cycles». Bernstein first «has developed his own method and computation of time. I did not have money for a participation in tendering, therefore I sold advices». In due course it has accumulated enough means and has started to lead trading on own method.

Bernstein holds a post of the president of firm Commodity Advisors which are in the State of Illinois, and he is the author of more than 20 books. He publishes report on Weekly Futures Trading Letter which appears since 1972, and also regularly holds seminars on the separate themes connected with trading. Bernstein also is a part of participants All Star Traders Hotline. «I like to learn. Every time when I learn, I learn something new, and it hardens my belief in my own methods», — Bernstein speaks. He adds that «among traders so much misinformation extends that I am given by pleasure to learn to things of which working capacity I am assured».

Bernstein is inclined to participate in work of the most active futures markets: energy carriers, the finance, contracts S&P. But, as he said, «I lead trading by everything that is changed in the set time frameworks». Bernstein usually avoids such thin markets, as futures for a palladium or orange juice: «it is not pleasant to me, as orders» there are fulfilled.

When he have questioned about, whether there is a technical analysis erosion as the increasing number of traders is guided by the same schedules of laws, Bernstein has told: «Schedules of laws is simultaneously a science and art. I am inclined to adhere to crystal clearness in all. If 10 persons look at the schedule, and all come to an identical conclusion I feel in such situation with comfort. I like to be objective». Bernstein has resulted as an example the wave analysis of Elliott as the sample of the technical analysis inclined to larger “subjectivity” as account of waves is subject to individual interpretations.

This veteran of the exchange auctions has opened own page in the Internet and feels the huge optimism concerning “world wide web” effect trading community. «I consider that the Internet will allow extending quicker the information and will allow to a greater number of people to participate in work of the markets worldwide».

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The positive thinking demands larger quantity of energy, than negative. When traders are exhausted physically or intellectually, it is simpler to them to imagine terrible result, than positive consequences of the activity. The condition of a physical exhaustion can be expressed through the lowered functions of epinephral and immune system of an organism. At the night, the weakened function of epinephral systems causes that adrenal glands do not signal a liver about necessity to develop glycogen, when sugar level in blood goes down. Proceeding nightmares are caused by the low maintenance of sugar in blood that, simultaneously, is at the bottom of that people see nightmares in the end of a dream cycle, when the sugar maintenance in blood is at the lowest level. Whence people have the low maintenance of sugar in blood? From an improper feeding and the excessive use of sugar that forces a body to develop too much insulin. The huge consumption of sugar, finally, conducts to the lowered maintenance of sugar in blood. When it occurs, all negative scenarios come up and fill our unconscious consciousness. One more reason of nightmares is illness. Fever causes nightmares, when the brain overheats. In addition to it, various respiratory disorders also cause nightmares. When you sleep, and you have hard breath, there can be fears that you cannot breathe at all. The dread of feebleness and control loss can become more real. The terrible working day can leave feeling of an exhaustion and alarm at a trader. Nevertheless, instead of going to sleep earlier, he can be late watching TV and drinking beer to relax. Unfortunately, a combination of stressful hormones for a day with alcohol will also cause falling of level of sugar in blood. In this case you can see nightmares again.

The coming anxiety on transactions or money will make repeating image of loss and-or failure in consciousness of the trader. These images will spread in his night dreams and day dreadful visions. Conversations about fears and problems, connected with trading operations before a dream can become one more reason of terrible dreams. Viewing of news before a dream also can provoke feeling of concern, which is expressed through a dream. The same it is possible to tell and about day visions. Concentration on nervous news or other negative thoughts can make favorable circumstances for daydreams. Viewing of a horror movie or perusal of the strong book can also inspire dreadful visions. And, at last, traumatic experience of the past can make terrible vision. In spite of the fact that absolutely different things and various experience will be activators of dreams, the consciousness of the trader will spread alarm from them on of what he thinks most of all: on trade.

How is to rectify situation?

If you reckon that you have got lost in terrible dreams, strategy of the self-help, which is able to neutralize them, will be the most effective. This strategy includes three stages. First, realize influence of terrible dreams on your trade. It will give you motivation. Secondly, define that dream, which disturbs you more. Thirdly, and the last, you should replay this dream into your thoughts completely, but only with the positive ending. As soon as you will make it in enough to go images in the consciousness, the nightmare will turn to a pleasant dream.

It is vital to gather as much information about currency exchange market as possible. Because this info will help you not to lose much money on Forex trading or Forex investment.

Surely not a single piece of knowledge can be rock solid guarantee against losses, in particular on Forex, but sometimes just one Forex books can be of huge service to you.

With the beginning of a new millennium any researches of derivatives in the USA among the leading companies inevitably lead to the main market participant the derivatives. It is the American huge superbank JPMorganChase which was born as a result of merge of two huge banks: JP Morgan and Chase Manhattan. JPMorganChase enters into elite group of blue chips of the New York stock exchange.

In the USA banks of commerce and trust companies are obliged to grant every quarter reports on the operations with derivatives in Management of currency exchange regulation of the USA (ОСС). ОСС it is based in 1863 as office of Exchequer of the USA and is responsible for maintenance of “a stable and competitive national banking system». On site ОСС www.occ.treas.gov it is indicated that currency exchange regulation Management pursues four aims: «1) to ensure safety and validity of a national banking system; 2) to encourage competitiveness, allowing banks to offer new products and services; 3) to improve efficiency and quality of supervision, including decrease in rigidity of regulation; and 4) to ensure honest and equal access to financing facility for all Americans».

Quarterly ОСС prepares «the Report on bank derivatives» which in detail paints items on derivatives as a whole for all banks America and the trust funds working in the urgent market. Under the law, banks America and trust funds are obliged to inform on the items on derivatives in ОСС every quarter. Though this report does not include items on derivatives of noncommercial banks, such as investment house Goldman Sachs, report ОСС all the same is extremely useful to estimation or an activity cut in the market of derivatives and items on derivatives as a whole.

Hard precisely to evaluate what share in the market of derivatives is constituted by banks of commerce and trusts, but it is possible to assume that their majority. From the drawing 1 borrowed from report ОСС for III quarter 2001, it is possible to draw at once a conclusion, which the main player among nearly 400 American banks of commerce and the trust funds pounded in the market of derivatives. It is super bank JPMorganChase allocated with red color including Chase Manhattan Bank and Morgan Guaranty.

The reader can be convinced that the sizes of effectively controllable capital through derivatives simply stunning. The volume of derivative instruments constitutes monstrous figure in $51,284 billion More than $51 billion! By the way, for half a year (in comparison with I quarter 2001) there was an increase in this sum at 16.8 %, or nearly so on $8 billion! For comparison, the annual volume of yucky national product of the USA constitutes about $40 bln. (For III quarter 2001 – $10,225 billion). Capitalization of 500 largest companies entering into index S&P 500, the small exceeds $10 bln. Obviously that the enormous sum of derivatives of $51 bln. which supervise banks and trust funds, is a fictitious size as it much more exceeds yucky national product of the USA and cost of all shares sold and bought in USA

From this huge sum of $51.3 bln. bank JPMorganChase supervises $30.4 bln. derivatives that constitutes 59.3 % of all market of the derivative USA. If in more details, the bank supervises 64 % of the market of percentage derivatives, 49 % of market FOREX, 68 % of the market of derivatives on shares and 62 % of derivatives on gold – among all community of banks of commerce and trust funds of the USA. Thus tangible assets JPMorganChase – all about $800 billion.

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What is the most vital into the Forex market? You should predict the market. You should follow indicators and when they speak: “Choppy”, – you should stay out of the market, waiting only the huge movements.

The market punishes you, having beaten out an account quarter. You abuse yourself, but it is too late already.

When you follow the system and leaves on purpose to fix profit, the market continues to go and you abuse yourself that did not remain in the market. Though all the same you do not know, that it is not the main thing. It would be necessary to leave everything as it is, but you cannot.

You do not have ready decisions for every situation and sometimes you use a subjective view and the market remunerates you. It occurs when you reckon that know an event, then the market takes away all earned plus slightly more for the equal account.

You are worried to trade. The majority of people stops on this point, sometimes coming back to the beginning and repeat the same way.

Having appeared at this level, you should know the advantage of a prediction of the markets, news, and illusions that there is some special secret of the market.

You should accept losses as necessity at trading and stop to use 80 percent of time for the analysis of indicators in favor of use of 80 percent of time on money management.

You indicators have shown efficiency 50 on 50 for years of work, but you were pleased for it also.

You should know that a key to profit extraction not in reception of 80 percent of profitable transactions, and in acceptance of small losses, when you are not right, and huge profit, when you are right in position deduction. Excellent trader never allows a position to departure from hands. If it receives terrible execution of the warrant, he leaves the market. He applies to removal of profit only objective trailing stop.

Profitable trader also has a set of right decisions for trend definition, as criteria of an input and an exit. He knows that it is not a key to the huge profits, but clears up possible uncertainty.

His system is checked on the historical data and works qualitatively when you follow rules needlessly to answer additional questions. He can reckon that the market grows, but if during this moment the system speaks to sell, he sells without hesitation. There are no the situations, which are beyond his system, and he does everything as the computer, following instructions. The system never puts him before a double choice.

Profitable trader knows that trading is much more than just indicator for all occasions.

It is vital to gather as much info about Forex market as possible. Because this info will help you not to lose much money on Forex trading or Forex investment.

Surely not a single piece of knowledge can be a 100% guarantee against losses, especially on Forex, but sometimes even one Forex books can save you much money.