Sunday, November 30, 2008
Revealed — Million Dollar Forex Investing Mistakes
Money Management Tips For Trading On The Forex
Friday, November 28, 2008
The Pros and Cons, of Trading a Forex Trading Demonstration Account
Wednesday, November 26, 2008
Forex Trading Platform
The Prime Time For Daily Forex Trading
Monday, November 24, 2008
Finding Reliable Forex Signals
You guys know how hard it's to find a reliable forex signals and most of the forex signals services are very expensive ranging from $199 to $500 per month. And worse of all, there's no guarantee of this.
To find a good service, you must make sure that you get their free trial before you really subscribe to the service. 1 to 2 weeks is good enought to prove that whether they are reliable or not.
You want to find a forex signals service just because you don't have time or you don't have a good skills in trading forex. I understand your felling and that's why I've created a blog for people who want to get the free forex signals.
But I have day job as well. I don't post forex signals every day but if you can catch some, you got your money into the bank! :)
By that, I wish you to have a good trading in forex world!
Take care and God bless.
The Forex Market And Its Three Distinctive Elements
Although there are many distinctive elements of the Forex market, there are three that can be highlighted as helping new traders learn exactly what the foreign exchange market is all about. These distinctive elements are those that every new trader should know long before they make their first trade. The Forex system is one that is made to encompass the entire globe. It can be difficult to interpret and even more difficult to successfully trade within. The first step to being a successful trader is knowing how the system works. Before you even think about opening a Forex account, be sure that you are familiar with the foreign exchange market's three distinctive elements: geographical, functional, and participant. Geographical The Forex is a huge market that encompasses the entire globe. This is a market that spans from North America to Europe, to China, and back. There is no area it doesn't touch which makes the market so popular. There is simply something for everyone within the Forex market. Its easy 24 hour a day access makes it even more attractive for investors. No matter what time of day you want to trade, there will be someone trading in some distant location around the world. Although there is trading in the Forex in every corner of the globe, the major exchanges are Singapore, Hong Kong, Tokyo, Bahrain, London, New York, San Francisco, and Sydney. The geographical element of the foreign exchange market can help new traders realize the size and volume of the Forex. It is simply unmatched in volume and size making it a powerful tool for investors everywhere. Functional The entire Forex market functions to transfer purchasing power between countries. When trades are made, partners are converting currency revenues into their domestic currency. When one country's purchasing power is strong, another country's purchasing power may be weaker. The Forex market also functions to obtain and provide credit for international trade and to avoid an exchange rate disaster. When it comes to international trade, the Forex is helpful because it helps the movement of goods between countries and offers credit for financing. Participant There are two main parts to the foreign exchange market. The first part is the interbank, which is often called the wholesale market. The second part is the client, which is often called the retail market. In these two categories are approximately five different types of participants. The first type of participant being the bank and non-bank foreign exchange dealers who buy at bid prices and sell at asking prices. This helps the efficiency of the market as a whole. An interesting thing to note is that by trading currencies, banks often make up to 20% of their profits. The second type of participants is made up of individuals, and commercial and investment firms. This group consists of importers, exporters, tourists, and other portfolio investors. They use the market to help them invest. These are often the participants who use the Forex to hedge, which is a way to reduce their risk. The third group type that seeks to profit from the foreign exchange market are s speculators and arbitragers. These people are out to make money for themselves. They are acting in their own self-interest. They seek profitable rate changes in order to help them profit and try to profit with the least possible risk involved. Large banks are sometimes a part of this group. Also involved in the Forex are central banks and treasuries. They use it to change the value of their own currency, or to at least attempt to do so. This is something that they do with reserves. Their motive is not to profit but to influence the market. They want the value of their domestic currency to benefit their interests. Foreign exchange brokers are the last of the five groups involved in the participant element of the Forex. These participants are those who facilitate trading but are not partners in the transaction. They typically charge a fee for their service, which is most often on a commission scale. They are often seen as go betweens for large traders.
Discover Why Following a Proper Forex Trading System Will Ensure Your Forex Success
Forex courses will be very beneficial for you to obtain the necessary skills to get started in the Forex market. Forex training more frequently or adding more sets may lead to slightly greater gains, but the small added benefit may not be worth the extra time and effort (not to mention the added risk of injury). Currency trading is available via online courses, advanced trading workshops and one on one mentoring.
Having a proper training in currency trading is always an essential part in every step of daily life. Training and practice in Forex can mean the difference between success and failure and indeed between modest success and turbocharged success.
The good thing is, regardless of your choice training, it is accessible to anyone worldwide. Well, online method of training for Forex is rapidly garnering popularity for the flexibilities it offers to user. Having a proper training in forex is important to become an experienced trader. One who is interested in Forex trading is strongly advised to go for Forex training first so as to ensure success. By taking some time to have proper practice and advise, you can be an expert in the Forex trading field.
Ivan Ong is not an expert in Forex Trading. However, he does know some tricks that has earned him US $890.26 in his 8 first trades trading the Forex Market. He is going to show you the exact system that he follow to have such success in Forex Trading.
Learn Forex Trading
In order to become a successful forex trader you need to know what forex trading is and how to successfully trade forex. In order to achieve sufficient knowledge it is vital to learn forex trading from experts. This can be done in the form of a forex tutorial and there are literally hundreds of forex companies offering online tutorials and guides.
An online forex tutorial will explain how the foreign exchange market works and will also explain the types of forex orders that are available to you as a forex trader. A forex tutorial will also explain about technical indicators and what they mean, the economic indicators you will need to be aware of and the various options and strategies that are available to you as a forex trader.
If you are new to forex trading then it is essential that you learn forex trading before parting with any of your hard earned cash. Many online forex companies offer free training and demonstrations that resemble that of real time forex trading. There are also forex trading courses available and these are also a valuable way to learn forex trading as you can refer to these course time and time again.
The most important aspect when it comes to forex trading is to learn forex trading so that you understand how to trade and how to trade successfully. The more you learn forex trading the more understanding you will have and the more success. Finding a forex tutorial or forex trading course is simple. All you need to do is a brief internet search and you will have a great deal of tutorials and courses to choose from. If you are serious about succeeding as a forex trader, then it’s down to you, learn forex trading now and learn to succeed.
Sunday, November 23, 2008
The Secret to the Currency Exchange Forex
Currency exchange forex refers to just that: the exchanging of currency in an international market. With over 1 trillion dollars being exchanged on a daily basis, it's no secret as to why so many people are interested in getting into this market. It's a difficult market to get into, but there is real money to be made. Beyond this, there are a few short cuts and head starts to be taken.
The most notable way to get ahead in the forex market regardless of your skill level comes in the form of forex trading programs. These are programs which you use in conjunction with your campaign that take a lot of the weight off of your shoulders. They improve your campaign in two substantial ways.
The first way in which forex trading programs give you a leg up in currency exchange forex comes in the form of efficiency. It's just common sense that, if you want to be successful and consequently profitable in this market, you've got to be able to know what's going on at all hours of the day and night.
As this can prove quite difficult for most traders, forex trading programs were developed to not only keep a watch over the market, but also trade on your behalf and in your best interest around the clock. This acts as an added safety net to put your mind at ease at knowing that you'll land on the winning sides of all of your trades the vast majority of the time.
Arguably the best advantage which forex trading programs offer you in currency exchange forex comes in the form of trend indicators. These are programs within the programs which predict exactly where the market will go next before it does using complex mathematical algorithms so that you can react accordingly. The best part of these programs is that they are tested within the confines of real, everyday campaigns for months and sometimes years in advance to ensure that they are as accurate as possible.
Many traders rely exclusively on the predictions which they receive from their trend indicators when making their trades. If you want the most accurate and precise information affecting your trading day in and day out, there is honestly no substitute for forex trading software.
5 Benefits of Spot Currency Trading
In order for you to be able to do well when it comes to Spot Currency Trading you need to learn as much as you can about the movement of currencies around the world. Today you can if you want actually rather than allow a broker deal with your spot currency trading for you carry it out for yourself online.
However, before you do start to trade online in foreign currency it is worthwhile learning more about the markets and the movements of these items. Also you should actually spend time learning the strategies involved by taking an course in Forex trading again these can be completed online if you want. Certainly when it comes to spot currency trading there are a number of advantages to be gained from you carrying it out online and below we take a look at what some of these are.
Benefit 1 - You will be able to access your account from anywhere in the world at any time of night and day as long as you are able to connect to the internet. You don't even need a PC or laptop to do online spot currency trading having a mobile phone with internet connection or a handheld will suffice.
Benefit 2 - As mentioned you can do your trading anywhere in the world it only takes one click for you to get access to real time Forex quotes and for you to be able to chart and track your transactions. So even on holiday and your PC is at home as long as you have your account details with you then you can log on and see how your account is doing.
Benefit 3 - The tools used in many of the online programs provide you with the opportunity to be able to analyze the markets quickly. Plus they allow you to study the various statistics collated from around the world with regard to this form of trading and how the Forex market is moving.
Benefit 4 - You have the opportunity to record how your trading is going through using special software. This will not only show the volumes at which currency is being traded but what other activities are taking place in this particular market. Not only does it help you keep meticulous records of everything that you do, but will help you to better understand how the market works and so gain even more knowledge about the subject.
Benefit 5 - When it comes to online Spot currency trading you are not restricted to the amount you invest in your trades. In some cases there are a few online brokers who will allow you to invest as little as $50 in your trades.
However it is important that if you intend to do online Spot currency trading you choose a firm that has sufficient leverage and investment capabilities. If you don't then you will quickly come to realize that your chances of making a profit are greatly reduced. Before signing up to any of these online services make sure that you get some testimonials and references for them first.
Currency Trading
The term "Forex" is an abbreviation of Foreign Exchange; referred by the name "Spot FX" market. Forex trading is the trade of currency between two nations, and therefore trading is always done in currency pairs.
The common trading currency pairs are traded mostly against the Euro Dollar (EUR/USD), US Dollar (USD).); the British Pound (GBP/USD); the Swiss Franc (USD/CHF) and the Japanese Yen (USD/JPY).
But do you know how the Forex Trading Signals Works? Trading signals are some suggested buying and selling points with their price targets and some stop-loss levels that are delivered by forex signal givers to traders. They are delivered by email or instant messenger, cell phones, or be directly to your desktop. There are some services offering auto-trading that allows to automatically-execute own signals directly into brokers account. Swing trade if your life style is busy. The four hour forex trading strategy allows you to be free from your pc after you have done placing a trade and become tension free. This Forex Strategy System is for traders who don't have much time to catch up with forex charts.
This Currency trading will keep all the currency traders in the market close to the frequently changing forex market even when they are far away from their pc screens by the usage of trading strategy just by setting forex alerts technical indicators and on rates, also they create reminders for all important events. The exchange of one currency with another is called Currency Trading, and this market is known to be the largest trading industry. The process takes place this way, when traders jump into currency trading and they give away two way quotes. These quotes are Forex Alerts. From the two way quotes one is the purchase rate and other one is sale price. These prices are shown separated by putting a hyphen. The left handed price is the trader will purchase and the right handed is he will sell. The difference between the purchase and sale rate is known as the bid-ask spread. There always a little variation in the purchase rate and the sale rate. The trade is always in same amounts of that having been purchased. Off course there cannot be any drastic changes and the margin earned is the difference of the absolute bid-ask spread.
The profit that has been gained always depends on the variations that are in exchange rate and the size of position. Speculations over time period can be harmful and so that is why every government has their strict rules to be followed, in order to prevent embezzlement of money and chaos. There is no fee charged in this industry and only the bid-ask spread is said to be the transaction fee.
Forex and companies of same kind are need of era adding epoch making dimensions to foreign exchange market. The emphasis has been directed to meet growing necessities of modern world. As we know most of the companies do not have dual facility as does Forex profess. Forex redefines the modern money exchange in pluralistic form to satisfy your instincts in every respect.
Currency Forex Online Trading - Do Forex Robots Really Work?
If you're thinking of getting involved in Currency Forex Online Trading, you'll perhaps be wondering just what a Forex Robot is and how it works. Quite simply a Forex Robot is a piece of software that you run on your computer at home and that trades the online currency market for you. It normally does this by interfacing with a trading account of some sort - normally these are known as Meta4 trading accounts.
Each Forex Robot is different. They are most commonly setup to trade on a specific currency pair, although you can find models that allow you to trade on whichever currency pair you like. They have normally been "trained" on the historical nature of that currency pair - i.e. they have a good idea of when the currency pair is about to move up or down in value and they trade based on that. It is through this way that Currency Forex Online Trading is becoming accessible to so many people, as it removes the need to spend hours of time learning forex trading.
Simply put, you tell the Forex Robot what value of trades you would like it to make and when. The Forex Robot then sits and watches the market and decides the best time to make these trades. In Currency Forex Online Trading the Forex Robot is your own personal trader. It will buy the currency at what it considers to be the best time to buy, and sell it at what time it considers to be the best time to sell. Of course, they also generally have stop-loss limits so that if the currency instead moves in the opposite direction it sells the currency to minimise your risk.
Is Currency Forex Online Trading with Forex Robots risk-free? Firstly, let me qualify that by saying no form of investment is completely risk-free. However the beauty of using a Forex Robot is that, as long as you purchase a good robot, you are minimising your risk of loss. Forex Robots are designed to make you a profit, and while there will be some days where losses occur, the overall trend of your trading should be that of profit. Before you start investing with real money you should always make use of the trial feature that many of these robots have, where you trade "pretend money" to check that the Forex Robot behaves for you as you would expect.
A Profitable Forex Strategy - Forex Robots and Systems
These days most people are looking for a profitable Forex strategy and to be quite honest they do exist, however they are hard to come by for a few reasons. Number one, a person can have a profitable Forex strategy but without the proper discipline to execute the strategy effectively or number two, they can have all the characteristics of a great trader, but their system is flawed and gives them poor trading signals.
How do we create profitable Forex strategies?
Using Forex automated robots. Forex automated robots, or also known as expert advisors operate on a set of parameters based around a mathematical formula. When conditions are met within the formula, a trade is taken and the robot automatically sets the appropriate stop loss and profit target. The benefits of having a robot make the trading is that the robot does not have any emotion. The robot simply acts on a set of rules and never deviates from those rules. Secondly, a Forex robot can trade around the clock twenty four hours a day, never missing a trade on a specific currency.
Most Forex robots are compatible with MetaTrader, a free charting software package and can be easily installed to the platform. Once the Forex robot is successfully installed, it can then be applied to just about any Forex broker. It's usually recommended to first test the robot in a demo account before actually going into a live trade. First testing the robot will help identify proper settings for various market conditions. A slight adjustment of the settings may yield the results one is looking for and of course will help with sideways and trending markets.
There are many Forex robots to choose from online and of course not all were created equal either. When looking for a quality expert advisor, or Forex robot, it's important to analyze the back tested data. Ask yourself, how has the robot performed in the past? Most trading robots have a very good trading record and the best ones can trade at nearly 90% accuracy. In order to get that 90% accuracy your Forex robot will have to be properly tested and perhaps even tweaked a bit, but it is very possible.
Why Trading Forex Makes Sense in This Current Economic Climate
As you know FTSE 100 index is back below 4000 and the Dow Jones is below 8000, so it's safe to say that shares across the board are performing woefully at the moment. Although I think there are some excellent bargains to be had at these prices, I believe that you also need a more stable source of income in this current economic climate, which is why I can recommend forex trading.
Of course forex trading is extremely risky in general but if you can spend time to develop your own profitable trading system then the earnings can be relatively stable and predictable. I personally have developed a trading system based on the 4 hour charts and it seems to generate solid profits every single week with just one or two good trades being triggered each week.
The great thing about forex trading is that the major currency pairs conform extremely well to technical analysis. This means that by educating yourself about the various technical indicators and learning which ones give the most reliable signals, you can make excellent profits from forex trading.
Furthermore another benefit is that there is potential to make good profits whatever the current economic climate may be. So it doesn't really matter if the economy is strong or weak at the moment. When you trade forex you can go long or short of a currency pair, so it's just as easy to make profits from currencies that are in a downwards trend than those currently trending upwards.
The real trick to making money from forex trading is to find a solid trading system and apply strict money management rules to get the most out of this system. So this means you want to apply a strict stop loss to every trade to keep your losses small, and you should also only risk a small percentage of your capital on any one trade to keep yourself in the game and not overexpose yourself.
If you can do all this, you should find that forex trading can provide you with a solid and dependable income. Furthermore you can potentially make far higher gains than you could from stock market investing, even with a conservative trading approach.
For example most investors would generally be happy to make 10-20% profit each year from their share portfolio, but there are skilled forex traders out there who are capable of earning these kinds of returns in a month, particularly if they make use of leverage. So hopefully you can see why forex trading can be much more lucrative than share investing, particularly during this current economic crisis when shares are weak and out of favour.