Saturday, September 11, 2010
FOREX Is The Number One Exchange In The World
The Foreign Exchange market (Forex) is truly the largest exchange in the world. The amount of dollars traded on the Forex market on a daily basis is in the trillions. Most of this currency trading takes place between between large banks, central banks, currency speculators, multinational corporations, governments, and other financial markets and institutions. However, individual traders are starting to get in the mix, using internet discount brokers such as Etrade to participate in the currency exchange market. There is no central exchange or meeting place for the Forex. All trading is done over computer networks between traders in different parts of the world. Also, unlike the stock market, the foreign exchange market is open 24 hours per day, because it is a global market. A trader in Hong Kong may be exchanging currency with a trader in Australia while an American trader is sleeping. There are several different markets within the Forex exchange system. First, there is the spot market. The spot market deals with trades that are based on the current values of currencies. One person trades a certain amount of currency with another trader in exchange for an equivalent amount of a different foreign currency. Spot trades take two days for settlement. The other two types of foreign exchange markets are the forward and futures markets. In the forward market, the buyer and seller agree on an exchange rate and a transaction date is set for a specific time in the future, at which point the trade is executed regardless of what the rates are at that time. On the futures market, futures contracts are bought and sold based upon a standard contract size and maturity date. Futures trades take place on public commodities markets. A currency quote is listed differently from a stock quote. Stocks are quoted in terms of price per share. Currency exchange prices are listed as either a direct quote or an indirect quote. A direct quote uses the domestic currency as the base and the foreign currency as the quote. An indirect quote works the exact opposite way. So, if you were to view a quote in an American newspaper that said USD/JPY = 75, that would be a direct quote and would mean that $1 of U.S. currency is equal to 75 Japanese yen. If that same quote appeared in that same American newspaper and was listed as JPY/USD = 0.013, that would be an example of an indirect quote. As with stock prices, currency exchange prices have a bid and ask spread. The current bid is the amount of foreign currency that someone is willing to spend in order to buy $1 U.S. base currency. The ask is the amount of foreign currency that someone is demanding in order to be willing to sell $1 U.S. base currency. The Forex markets are generally considered to be less volatile than then stock market because within the course of a trading day, it is highly unlikely for the value of a single currency to move all that much. With equities, it is not uncommon for a trader to buy a stock, and then a negative press release causes the stock to lose considerable value within a day or even a couple of hours. Sometimes, however, the Forex can be volatile. If there is a significant economic or political development with a certain country, the currency of that country can lose value quickly. There is a higher degree of liquidity on the currency exchange then there is on the stock exchange because the currency exchange is open 24 hours per day and because the very nature of currency exchange is to bet on when certain currencies will go up or down; so, it is easy to sell your position in a certain currency even when the value of that money is going down. A plummeting stock is more difficult to unload, but not impossible. If you want to begin currency tranding, try to set aside some money and open an account with an online broker. Start slowly, then as you get the hang of it, work your way up to larger trades and higher volume. However, do not gamble your nest egg on currency trading because inexperienced traders can lose everything they have rather quickly in spite of the relative safety of the Forex market.
Best Forex System Trading-Go For The Best And Make More Profit
Forex is basically used as abbreviation for foreign exchange stock market. Forex is the trade of selling and buying of currencies. It is said to be the easiest way to do business even if you are sitting at your home. You can make maximum profit with this business. For getting into this, you need to have good understanding of business, investments, effects of exchange rates and trade.
There are two types of forex system trading, offline forex trading and online forex trading. The best forex system trading comes under online forex system trading. Offline forex system trading is very hectic and time consuming as it requires you to go to the companies to do trading, check trade status and then collecting profits.
Best forex system trading means an effective currency trade in which you earn more profit in less time and efforts. To get success in forex trading, an effective system is needed. It is that trading system which gives you updates about all the changes in the market. Find such a trading system which suits your strategy and style, only then you can make good profit.
There are many trading systems used in trade but the most popular forex system trading is the automated system trading. It is a trade in which you buy a forex system trading software and then you deal and fill it according to your demands and requirements. The system will then tells you the perfect time to buy or sell the currency to gain maximum profit.
There is another method in which you check out and note the statistics and strategies of last few months' forex trade and then calculate the graph of profits verifications using a calculator.
No doubt best forex system trading is the online system trading because it is available with many different features. You can invest your money and trade in your way. You do not need to go to the companies to buy or sell currencies. Everything is done on computer and you just need to input your needs and terms.
Best Forex System Trading-Go For The Best And Make More Profit
Forex is basically used as abbreviation for foreign exchange stock market. Forex is the trade of selling and buying of currencies. It is said to be the easiest way to do business even if you are sitting at your home. You can make maximum profit with this business. For getting into this, you need to have good understanding of business, investments, effects of exchange rates and trade.
There are two types of forex system trading, offline forex trading and online forex trading. The best forex system trading comes under online forex system trading. Offline forex system trading is very hectic and time consuming as it requires you to go to the companies to do trading, check trade status and then collecting profits.
Best forex system trading means an effective currency trade in which you earn more profit in less time and efforts. To get success in forex trading, an effective system is needed. It is that trading system which gives you updates about all the changes in the market. Find such a trading system which suits your strategy and style, only then you can make good profit.
There are many trading systems used in trade but the most popular forex system trading is the automated system trading. It is a trade in which you buy a forex system trading software and then you deal and fill it according to your demands and requirements. The system will then tells you the perfect time to buy or sell the currency to gain maximum profit.
There is another method in which you check out and note the statistics and strategies of last few months' forex trade and then calculate the graph of profits verifications using a calculator.
No doubt best forex system trading is the online system trading because it is available with many different features. You can invest your money and trade in your way. You do not need to go to the companies to buy or sell currencies. Everything is done on computer and you just need to input your needs and terms.
There are two types of forex system trading, offline forex trading and online forex trading. The best forex system trading comes under online forex system trading. Offline forex system trading is very hectic and time consuming as it requires you to go to the companies to do trading, check trade status and then collecting profits.
Best forex system trading means an effective currency trade in which you earn more profit in less time and efforts. To get success in forex trading, an effective system is needed. It is that trading system which gives you updates about all the changes in the market. Find such a trading system which suits your strategy and style, only then you can make good profit.
There are many trading systems used in trade but the most popular forex system trading is the automated system trading. It is a trade in which you buy a forex system trading software and then you deal and fill it according to your demands and requirements. The system will then tells you the perfect time to buy or sell the currency to gain maximum profit.
There is another method in which you check out and note the statistics and strategies of last few months' forex trade and then calculate the graph of profits verifications using a calculator.
No doubt best forex system trading is the online system trading because it is available with many different features. You can invest your money and trade in your way. You do not need to go to the companies to buy or sell currencies. Everything is done on computer and you just need to input your needs and terms.
Fap Turbo VS Mega Droid: Which Forex Bot is better?
We all know that theres a LOT of money to be made in the forex trading market. The newest and easiest was it by using a robot that trades for you 24/7. I've purchased the top two rated robots and have been keeping tabs on their progress.
MegaDroid:
Although MegaDroid was recently released to the public on March 28th it has actually been running since 2004. I have great respect for the creators for testing and perfecting the robot for so long. MegaDroid is the first to use RCTPA technology and is considered to be capable of making very fast trades with 95.82% accuracy. One of the leading problems with the older robots was the inability to open and close the trades fast enough. Since megadroid has only been available to the public for 1 month, there is not a lot of feedback as to how the robot is doing for the general public. For myself, I can say that it is making a steady profit day after day.
MegaDroid is my number one choice for beginners who have little to invest and need a place to start. For those with a larger investment see my review on Fap Turbo.
Forex MegaDroid also offers easy installation, an introductory low price at $97 (soon to be $399), 24/7 support, instructions, member-only access, 1 trading license, very fast trading capabilities, and an outstanding robot that will trade for you 24/7. Its never been easier to make money while you sleep!
Summary: MegaDroid is my number 1 choice for beginners, those with a small investment amount, and those that already have Fap Turbo and want to run more than one trading account.
Get MegaDroid Now.
Fap Turbo:
Fap Turbo is my favorite choice when it comes to those with larger investments and those with experience in the forex market. Its been around since 2007 and it immediately blew all of the other robots out of the water within a week of test time. My one rejection to fap turbo is that the installation process could be difficult for beginners. I myself had to use customer support a few times before I got everything set up. If you're familiar with the installation process, you'll be fine. Since Fap Turbo has been out for quite some time, there is a large amount of information out there from the general public about its successes. You'll also have access to the Fap Turbo Forum after purchasing. This is very helpful if you're curious to see how others are doing.
Fap Turbo offers an average installation experience, a decent price at $140 (sale price), 24/7 support, member-only access, 1 trading license, super fast trading capabilities, tons of proof of success, a 60 day money-back guarantee, dual download options (You can chose the beginner or pro version of the robot)
Summary: Fap Turbo is my number 1 choice for those with larger amounts to invest, those upgrading from MegaDroid, and of course those who just want to have multiple robots working for them. I myself have fap turbo and megadroid running 24/7 for me.
TIP: Fap Turbo is going to recommend using FXDD as your metatrader broker. I do not recommend them. Their spreads are far too high for Fap Turbo to trade well. My fap turbo has been most successful with my Alpari US account.
MegaDroid:
Although MegaDroid was recently released to the public on March 28th it has actually been running since 2004. I have great respect for the creators for testing and perfecting the robot for so long. MegaDroid is the first to use RCTPA technology and is considered to be capable of making very fast trades with 95.82% accuracy. One of the leading problems with the older robots was the inability to open and close the trades fast enough. Since megadroid has only been available to the public for 1 month, there is not a lot of feedback as to how the robot is doing for the general public. For myself, I can say that it is making a steady profit day after day.
MegaDroid is my number one choice for beginners who have little to invest and need a place to start. For those with a larger investment see my review on Fap Turbo.
Forex MegaDroid also offers easy installation, an introductory low price at $97 (soon to be $399), 24/7 support, instructions, member-only access, 1 trading license, very fast trading capabilities, and an outstanding robot that will trade for you 24/7. Its never been easier to make money while you sleep!
Summary: MegaDroid is my number 1 choice for beginners, those with a small investment amount, and those that already have Fap Turbo and want to run more than one trading account.
Get MegaDroid Now.
Fap Turbo:
Fap Turbo is my favorite choice when it comes to those with larger investments and those with experience in the forex market. Its been around since 2007 and it immediately blew all of the other robots out of the water within a week of test time. My one rejection to fap turbo is that the installation process could be difficult for beginners. I myself had to use customer support a few times before I got everything set up. If you're familiar with the installation process, you'll be fine. Since Fap Turbo has been out for quite some time, there is a large amount of information out there from the general public about its successes. You'll also have access to the Fap Turbo Forum after purchasing. This is very helpful if you're curious to see how others are doing.
Fap Turbo offers an average installation experience, a decent price at $140 (sale price), 24/7 support, member-only access, 1 trading license, super fast trading capabilities, tons of proof of success, a 60 day money-back guarantee, dual download options (You can chose the beginner or pro version of the robot)
Summary: Fap Turbo is my number 1 choice for those with larger amounts to invest, those upgrading from MegaDroid, and of course those who just want to have multiple robots working for them. I myself have fap turbo and megadroid running 24/7 for me.
TIP: Fap Turbo is going to recommend using FXDD as your metatrader broker. I do not recommend them. Their spreads are far too high for Fap Turbo to trade well. My fap turbo has been most successful with my Alpari US account.
Online Trading Academy
I am so grateful that I had the privilege of starting my career in the financial markets on the trading floor of the Chicago Mercantile Exchange. The most important lesson I learned was how money is REALLY transferred from one trader's account to another. Every day, retail trader accounts would be transferred into institution accounts, market maker accounts, and so on. When markets would decline to price levels where the institutions had their buy orders (real demand), retail traders and investors would sell because of the decline in price and the bad news that typically accompanies price declines. Institutions would buy at demand, retail would sell, price would then rally and the account transfer was underway. As price rallied, green candles would fill trading screens around the world, good news would start to creep in causing more and more buying which led to more and more of a rally in price until, price reached a level where the institutions were willing sellers, (real supply). At this point, the buying bandwagon was in full force sucking in most retail traders on the buy side, right into institutional supply. As soon as the last novice buyer bought from an institution or market maker at the supply level, price would decline and the account transfer was complete. This was my experience for years. I often thought a simple wire transfer would be quicker and less painful for the novice retail trader or investor but I guess we wouldn't need markets then and that would not be good.
As the trading floors slowly fade away into the black hole that sucks up anything non-electronic, you might think that astute traders are losing the very profitable link to retail traders and that herd mentality. Think again… The supply of novice retail traders and investors who have no idea how to quantify demand and supply (true value) has been exponentially increased thanks to a new market place much larger than the exchange ever was, the "Social Media."
Let it be known that I am the biggest fan of social media. This is the greatest gift to the financial world since, well, not sure I can think of anything else. Let's take Twitter as our first example. I was asked to speak on a Social Media panel in Toronto earlier this year. As I did my research and got more and more involved in Twitter, Facebook, various chat services, I was shocked. On Twitter for example, someone people follow said they had just bought a stock. This message went out to the initial group, then that group's group, then that group's group, and so on… As I watched the stock rise, I thought of Bernie Madoff, only the legal version. The guy who was the first buyer was a genius. Each buyer after him on this enormous chain of "followers" was simply paying those in the chain that bought after him. If you don't have a Twitter account, this is kind of how it works. People find you and start following you. You get an email that actually uses the word "follow." For those who know how to buy low and sell high in a market, we LOVE followers.
Let's take a step back and think about why someone interested in trading and investing would ever choose Social Media as a source for enhancing their financial well-being.
Someone would use social media such as Twitter, IM, Google chat, and others because they are either looking for trading and investing advice and information OR, they may be in search of education. Those who simply want advice and information want it fast… Social Media financial information leads to herd mentality trading and investing like I described above. Those seeking education don't know the difference between real/quality education and useless or misguided education. How could they know the difference? They are looking for it because they are new and don't know. Whether someone is going to Social Media for trading advice or education, going to Social Media is most often a path filled with traps that really speed up the account transfer from those who don't know what they are doing, into the accounts of those who do.
What determines whether you achieve financial success from trading and investing is not faster information and more education; proper information and education separates the haves from the have nots. Social Media is great for personal interaction, relationships, and so on. When it comes to anything having to do with true competition, the Social Media participant who is competing is in big trouble.
Why do you think big trading firms PAY retail brokers for retail order flow??? They want access to the orders from retail, novice traders. Yes, I said they "pay" for your order flow, there is a reason.
Instead of reading all the trading books and learning to buy and sell in markets when everyone else buys and sells which offers no edge…
Instead of acting on the advice of others who likely get paid from that advice, not the advice itself or from trading…
Pay attention to what is happening in front of your eyes on your trading screens and charts every day, week, month, year... Pay attention to what is happening around you. Pay attention to the simple reality of how you make money buying and selling anything.
This is exactly how the astute market player thinks and acts. You likely are already an astute buyer and seller at the grocery store, when you buy a car, and so on. Simply apply that same logic in the trading and investing markets and you will quickly own an edge that most people never come close to. If you feel like your account or savings is slowly being transferred into someone else's account, stop thinking and acting like others do and focus on how things really work.
As the trading floors slowly fade away into the black hole that sucks up anything non-electronic, you might think that astute traders are losing the very profitable link to retail traders and that herd mentality. Think again… The supply of novice retail traders and investors who have no idea how to quantify demand and supply (true value) has been exponentially increased thanks to a new market place much larger than the exchange ever was, the "Social Media."
Let it be known that I am the biggest fan of social media. This is the greatest gift to the financial world since, well, not sure I can think of anything else. Let's take Twitter as our first example. I was asked to speak on a Social Media panel in Toronto earlier this year. As I did my research and got more and more involved in Twitter, Facebook, various chat services, I was shocked. On Twitter for example, someone people follow said they had just bought a stock. This message went out to the initial group, then that group's group, then that group's group, and so on… As I watched the stock rise, I thought of Bernie Madoff, only the legal version. The guy who was the first buyer was a genius. Each buyer after him on this enormous chain of "followers" was simply paying those in the chain that bought after him. If you don't have a Twitter account, this is kind of how it works. People find you and start following you. You get an email that actually uses the word "follow." For those who know how to buy low and sell high in a market, we LOVE followers.
Let's take a step back and think about why someone interested in trading and investing would ever choose Social Media as a source for enhancing their financial well-being.
Someone would use social media such as Twitter, IM, Google chat, and others because they are either looking for trading and investing advice and information OR, they may be in search of education. Those who simply want advice and information want it fast… Social Media financial information leads to herd mentality trading and investing like I described above. Those seeking education don't know the difference between real/quality education and useless or misguided education. How could they know the difference? They are looking for it because they are new and don't know. Whether someone is going to Social Media for trading advice or education, going to Social Media is most often a path filled with traps that really speed up the account transfer from those who don't know what they are doing, into the accounts of those who do.
What determines whether you achieve financial success from trading and investing is not faster information and more education; proper information and education separates the haves from the have nots. Social Media is great for personal interaction, relationships, and so on. When it comes to anything having to do with true competition, the Social Media participant who is competing is in big trouble.
Why do you think big trading firms PAY retail brokers for retail order flow??? They want access to the orders from retail, novice traders. Yes, I said they "pay" for your order flow, there is a reason.
Instead of reading all the trading books and learning to buy and sell in markets when everyone else buys and sells which offers no edge…
Instead of acting on the advice of others who likely get paid from that advice, not the advice itself or from trading…
Pay attention to what is happening in front of your eyes on your trading screens and charts every day, week, month, year... Pay attention to what is happening around you. Pay attention to the simple reality of how you make money buying and selling anything.
This is exactly how the astute market player thinks and acts. You likely are already an astute buyer and seller at the grocery store, when you buy a car, and so on. Simply apply that same logic in the trading and investing markets and you will quickly own an edge that most people never come close to. If you feel like your account or savings is slowly being transferred into someone else's account, stop thinking and acting like others do and focus on how things really work.
Forex currencies quotation system
Currencies are quoted in pairs, for example – EUR/USD or USD/JPY.
The first currency in the pair is called the base currency and the second is called the counter currency.
The base currency is the ‘basis’ for purchases and sales. For example, if you buy EUR/USD, then you acquire Euros and sell Dollars. You do this if you expect the Euro to grow against the Dollar.
It is also possible for a currency pair to be quoted as USD/EUR, but this method is used extremely rarely.
Each transaction must have 2 sides – a buy and a sell (or a sell and a buy).By this we mean that it is impossible to buy 100.000 EUR/USD and then exchange it for another currency pair (i.e.: EUR/JPY) without closing the first position.
Also please note that no physical currency delivery will be made. For these purposes banks and exchange companies, which specialize in low-rate currency conversions are available.
The first currency in the pair is called the base currency and the second is called the counter currency.
The base currency is the ‘basis’ for purchases and sales. For example, if you buy EUR/USD, then you acquire Euros and sell Dollars. You do this if you expect the Euro to grow against the Dollar.
It is also possible for a currency pair to be quoted as USD/EUR, but this method is used extremely rarely.
Each transaction must have 2 sides – a buy and a sell (or a sell and a buy).By this we mean that it is impossible to buy 100.000 EUR/USD and then exchange it for another currency pair (i.e.: EUR/JPY) without closing the first position.
Also please note that no physical currency delivery will be made. For these purposes banks and exchange companies, which specialize in low-rate currency conversions are available.
The Most Crucial Forex Foreign Currency Exchange Tip
If the headline has caught your attention and you have begun to read this article, it means you know something about Forex, also sometimes referred to as Foreign Currency Exchange.
Foreign Currency Exchange trading is a non-stock exchange market that has no physical location. Since Forex trading does not depend on physical location, it operates across the world, non-stop, round the clock, but during weekends. Foreign currency exchange or forex trading covers markets of most countries with general platforms for exchange operations in London, Tokyo and New York.
I am sure you are thinking, "I already know all this! Where is the Foreign Currency Exchange Crucial Tip?"
Returning to the core issue - those of you who consider the profession of Forex trader as prestigious, romantic, and analytical, throwing some light on Forex facts was something I considered appropriate at this stage.
Secondly, for those who think trading in foreign currency exchange is about making easy and crazy money from the comforts of your holiday home in the Caribbean, I am taking a tiny detour (again!) to tell you that if Forex trading was that simple most other professions would be extinct by now. If you know how to read between the lines, a million dollar tip is hidden right there!
Some of you might know people who consider it a dull profession. While some of you may know individuals who are absolutely and passionately in love with Foreign Currency Exchange trading not only for the kind of money it makes for them, but also for the challenges it exposes them to!
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The truth lies in the middle. Forex is about all the above - passion, strategy, analytics, not to forget the luck factor! The most important of the Foreign Currency Exchange tips is: do not start doing forex out of fun or to test your luck. To succeed at Foreign Currency Exchange Trading you will need to be skilled and smart, you will need to work hard, you will have to learn to face and deal with challenges and risks.
Here is another tip - Once you decide to trade forex, it is crucial to choose a reliable Foreign Currency Exchange trading company. They will help you to minimize risks. Learn as much about the forex, currencies, and markets as you can. Luck constitutes merely 1% to your success.
Lastly, don't give up! There will be losses, surely. But without losses where is the scope for revenue? Our parents were not wrong when they instilled the No pain - No Gain lesson in us. Believe in the fact that only practice can bring you one step closer to success.
So that is that. I promised you one tip and have ended up sharing far too many. I sincerely hope they help you to enjoy forex trading and finally build wealth for yourself.
Foreign Currency Exchange trading is a non-stock exchange market that has no physical location. Since Forex trading does not depend on physical location, it operates across the world, non-stop, round the clock, but during weekends. Foreign currency exchange or forex trading covers markets of most countries with general platforms for exchange operations in London, Tokyo and New York.
I am sure you are thinking, "I already know all this! Where is the Foreign Currency Exchange Crucial Tip?"
Returning to the core issue - those of you who consider the profession of Forex trader as prestigious, romantic, and analytical, throwing some light on Forex facts was something I considered appropriate at this stage.
Secondly, for those who think trading in foreign currency exchange is about making easy and crazy money from the comforts of your holiday home in the Caribbean, I am taking a tiny detour (again!) to tell you that if Forex trading was that simple most other professions would be extinct by now. If you know how to read between the lines, a million dollar tip is hidden right there!
Some of you might know people who consider it a dull profession. While some of you may know individuals who are absolutely and passionately in love with Foreign Currency Exchange trading not only for the kind of money it makes for them, but also for the challenges it exposes them to!
google_protectAndRun("ads_core.google_render_ad", google_handleError, google_render_ad);
The truth lies in the middle. Forex is about all the above - passion, strategy, analytics, not to forget the luck factor! The most important of the Foreign Currency Exchange tips is: do not start doing forex out of fun or to test your luck. To succeed at Foreign Currency Exchange Trading you will need to be skilled and smart, you will need to work hard, you will have to learn to face and deal with challenges and risks.
Here is another tip - Once you decide to trade forex, it is crucial to choose a reliable Foreign Currency Exchange trading company. They will help you to minimize risks. Learn as much about the forex, currencies, and markets as you can. Luck constitutes merely 1% to your success.
Lastly, don't give up! There will be losses, surely. But without losses where is the scope for revenue? Our parents were not wrong when they instilled the No pain - No Gain lesson in us. Believe in the fact that only practice can bring you one step closer to success.
So that is that. I promised you one tip and have ended up sharing far too many. I sincerely hope they help you to enjoy forex trading and finally build wealth for yourself.
Forex trading, make substantial money through currency exchange
The Forex or foreign exchange market includes the sale and purchase of currency against purchase and sale of another. The main motto of Forex trading is exchanging different currencies with the intention that the price as well as value of the currency will increase as compared to the currency that you sold. Through Forex trading course it is probable to guess the exact market direction and acquire a considerable return over your investment. The prime participants in Forex trading include investment and commercial banks along with the central banks. Several other participants incorporate hedge funds, corporations plus loads of speculations traders. In order to generate money and profit in this realm, you will compete against the main banks and even the individual traders. Forex primarily includes Forex spot market and currency upcoming market. Now, nearly all small investors take keen interest in foreign exchange sport market. While getting indulged in Forex trading, it is vital to pick a reputable and recognized broker, as the broker will pay you cash. The broker acts as the intermediary in between Forex and you. When you trade in Forex, your position is occupied with the broker, wherein the brokers send orders off to the financial institution. When the times come to be paid, your amount remains with the trader and they require covering your positions within the market. Majority of the brokers give a 3-5 pip spread, mainly means that foreign exchange should move 3-5 pips prior to your trade is within profit. A single pip can be of any value, as per the total amount you are interested to put at risk on every trade. There are basically, two kinds of traders, including technical and fundamentalist traders. Many traders discern the reason of the market movement, while the technicians review the overall effect. Among the two many traders classify themselves as fundamentalist as well as technician. Majority of the fundamentalist will posses the knowledge about the indicators, charts along with the chart analysis. Likewise, the technicians are familiar with the fundamentals. But, the issues is that the fundamentals and charts are generally in conflict each other. Often, it is a nice decision to take a little training in both the technical analysis as well as fundamentals. The most essential factor in Forex trading, including day trading and swing trading is to learn to how to properly manage your amount. The traders indulged in Foreign exchange market experience losses, thus, it is extremely essential foe the trader to use adequate money management. sometimes, money management is a very simple concept, still practicing it can be a bit challenging. Generally, money management is getting familiar with the situations when you require cutting the losses. For every trade, the trader must be seeking to generate double amount they graph to lose. For successful Forex trading and for making maximum profit the best method is to look online. What makes Internet a nice place to access is the actuality of being acquainted with the proper methods of selling, trading and making money in Forex. Also, you will get to know the best strategies and how to succeed in Forex.
The Most Crucial Forex Foreign Currency Exchange
If the headline has caught your attention and you have begun to read this article, it means you know something about Forex, also sometimes referred to as Foreign Currency Exchange. Foreign Currency Exchange trading is a non-stock exchange market that has no physical location. Since Forex trading does not depend on physical location, it operates across the world, non-stop, round the clock, but during weekends. Foreign currency exchange or forex trading covers markets of most countries with general platforms for exchange operations in London, Tokyo and New York. I am sure you are thinking, "I already know all this! Where is the Foreign Currency Exchange Crucial Tip?" Returning to the core issue - those of you who consider the profession of Forex trader as prestigious, romantic, and analytical, throwing some light on Forex facts was something I considered appropriate at this stage. Secondly, for those who think trading in Foreign Currency Exchange is about making easy and crazy money from the comforts of your holiday home in the Caribbean, I am taking a tiny detour (again!) to tell you that if Forex trading was that simple most other professions would be extinct by now. If you know how to read between the lines, a million dollar tip is hidden right there! Some of you might know people who consider it a dull profession. While some of you may know individuals who are absolutely and passionately in love with Foreign Currency Exchange trading not only for the kind of money it makes for them, but also for the challenges it exposes them to! The truth lies in the middle. Forex is about all the above - passion, strategy, analytics, not to forget the luck factor! The most important of the Foreign Currency Exchange tips is: do not start doing forex out of fun or to test your luck. To succeed at Foreign Currency Exchange Trading you will need to be skilled and smart, you will need to work hard, you will have to learn to face and deal with challenges and risks. Here is another tip - Once you decide to trade forex, it is crucial to choose a reliable Foreign Currency Exchange trading company. They will help you to minimize risks. Learn as much about the forex, currencies, and markets as you can. Luck constitutes merely 1% to your success. Lastly, don't give up! There will be losses, surely. But without losses where is the scope for revenue? Our parents were not wrong when they instilled the No pain - No Gain lesson in us. Believe in the fact that only practice can bring you one step closer to success. So that is that. I promised you one tip and have ended up sharing far too many. I sincerely hope they help you to enjoy forex trading and finally build wealth for yourself.
FOREX Is The Number One Exchange In The World
The Foreign Exchange market (Forex) is truly the largest exchange in the world. The amount of dollars traded on the Forex market on a daily basis is in the trillions. Most of this currency trading takes place between between large banks, central banks, currency speculators, multinational corporations, governments, and other financial markets and institutions. However, individual traders are starting to get in the mix, using internet discount brokers such as Etrade to participate in the currency exchange market. There is no central exchange or meeting place for the Forex. All trading is done over computer networks between traders in different parts of the world. Also, unlike the stock market, the foreign exchange market is open 24 hours per day, because it is a global market. A trader in Hong Kong may be exchanging currency with a trader in Australia while an American trader is sleeping. There are several different markets within the Forex exchange system. First, there is the spot market. The spot market deals with trades that are based on the current values of currencies. One person trades a certain amount of currency with another trader in exchange for an equivalent amount of a different foreign currency. Spot trades take two days for settlement. The other two types of foreign exchange markets are the forward and futures markets. In the forward market, the buyer and seller agree on an exchange rate and a transaction date is set for a specific time in the future, at which point the trade is executed regardless of what the rates are at that time. On the futures market, futures contracts are bought and sold based upon a standard contract size and maturity date. Futures trades take place on public commodities markets. A currency quote is listed differently from a stock quote. Stocks are quoted in terms of price per share. Currency exchange prices are listed as either a direct quote or an indirect quote. A direct quote uses the domestic currency as the base and the foreign currency as the quote. An indirect quote works the exact opposite way. So, if you were to view a quote in an American newspaper that said USD/JPY = 75, that would be a direct quote and would mean that $1 of U.S. currency is equal to 75 Japanese yen. If that same quote appeared in that same American newspaper and was listed as JPY/USD = 0.013, that would be an example of an indirect quote. As with stock prices, currency exchange prices have a bid and ask spread. The current bid is the amount of foreign currency that someone is willing to spend in order to buy $1 U.S. base currency. The ask is the amount of foreign currency that someone is demanding in order to be willing to sell $1 U.S. base currency. The Forex markets are generally considered to be less volatile than then stock market because within the course of a trading day, it is highly unlikely for the value of a single currency to move all that much. With equities, it is not uncommon for a trader to buy a stock, and then a negative press release causes the stock to lose considerable value within a day or even a couple of hours. Sometimes, however, the Forex can be volatile. If there is a significant economic or political development with a certain country, the currency of that country can lose value quickly. There is a higher degree of liquidity on the currency exchange then there is on the stock exchange because the currency exchange is open 24 hours per day and because the very nature of currency exchange is to bet on when certain currencies will go up or down; so, it is easy to sell your position in a certain currency even when the value of that money is going down. A plummeting stock is more difficult to unload, but not impossible. If you want to begin currency tranding, try to set aside some money and open an account with an online broker. Start slowly, then as you get the hang of it, work your way up to larger trades and higher volume. However, do not gamble your nest egg on currency trading because inexperienced traders can lose everything they have rather quickly in spite of the relative safety of the Forex market.
The Forex Trading Basics
Trading is probably as old as mankind itself. It's been there since man learned that he could trade his extra stone knife and five arrow heads for somebody else's nice warm fur blanket. These days we call it bartering, but it's the same process. And these days we've gotten more sophisticated with our trading. Now we use something called money to stand in for the blankets and the knives, but we're still trading our ability to work and produce something useful in exchange for somebody else's goods that we want. But now, trading is not only about goods or services, it has grown into something much more than that. Now we're trading one region's money for another region's money because we've learned that their relative values can vary, sometimes significantly. The first enterprising souls to notice this were the world's first currency traders, taking their profits from the buying and selling of actual banknotes and coins. But today the whole process has been formalized into what we call the Foreign Exchange (or Forex) market. And it has attracted a lot of action. Up to $3 trillion a day worth of action, in fact. Forex trading simply involves the buying and/or selling of different foreign currencies in the global market. Many investors today don't consider it enough to have a portfolio stuffed only with bonds, mutual funds and stocks. One of the strongest appeals of the Forex market is its 24-hour open door. On the world clock, a trading day starts in Sydney, Australia and steps from time zone to time zone around the world until it reaches New York city, the last market to open each day. And it does this five days a week, closing only on the weekend. Almost every country has its own currency, but on the Forex market, it's mostly the so-called "major" currencies that are traded. These currencies are highly regarded because their issuing countries are politically and economically more stable than most other currencies (most of the time). The major currencies that are traded in the FX market are the Euro, the British Pound, the Japanese Yen and the Swiss Franc, as well as the dollars of Canada, Australia and the USA. Most people, when they first learn of Forex trading, find it all a bit strange. Typically, money is used to buy goods and services, not other types of money. However, it's not really all that hard to understand. Just think of traveling to another country. Once you arrive, you go to a currency exchange or a bank and trade your dollars or Euros to buy ringits or yen. Then when you return home, you do the same in reverse. Sometimes the value has changed between the two exchanges, and you make a small profit or lose a bit. Well, that's exactly what a Forex trader does, but he does it much more often, and usually with much larger sums of money. Also, he's not doing it because of travel but because he believes he foresees a coming shift in the exchange rate. In other words, he sees an opportunity to make a profit and seizes it. If he knows what he's doing, the profits can be both big and consistent. So how do you get into the Forex market? It's surprisingly easy to enter, although it's not quite as easy to rack up steady profits. You'll need a computer and fast Internet connection. You'll also need seed money to cover your first trades. Minimum deposit requirements vary, but considering the opportunities available, even the higher entry fees are surprisingly low. You can choose from among many software programs available for logging in to your account and placing your trades. The software also allows you to receive alerts on market conditions, rates, and other important information. The more sophisticated software can recommend when to buy or sell. Forex trading can be an exciting way to make money, but when done in the wrong way, it can get very expensive. Learning what you're doing before you start trading is crucial. Do your research and your due diligence. Learn what the business is about. Set up a dummy account with a broker and do lots of paper trades so that you fully understand the entire process. Stay with this long enough to become comfortable. In addition, read comments and advice from other traders... many other traders. It's important to have a strong grasp of the strategies you'll need day-in and day-out. This is a business, and it's important that you treat it with the respect that a sophisticated, highly profitable business deserves. This mindset of professionalism and responsibility are fundamental to any success you expect to build. Without such a mindset, you're nothing but another gambler and you'll lose more than you win. Forex trading is more risky than stocks and bonds. But it also holds out the promise of much higher returns. Lightning can strike within seconds or minutes sometimes. Don't ever forget, ordinary mortals can take part in Forex trading. Just because 98% of all trading is done by huge financial institutions and multinationals, don’t think there won't be any "left-overs" for you. People from all walks of life are involved in that other 2% of Forex trading. Consider - just 2% of Forex's daily $3 trillion volume leaves some very large chunks of opportunity up for grabs. When you go looking for a system or strategy to guide your trades, don't just seize the first one you find. Do your homework. Take advantage of free trial versions of software. Look for customer testimonials. And after carefully considering all the factors involved, you can choose a system for your trading. Another important factor - check out the brokers and choose one who can effectively help you devise a trading strategy that fits your goals and your personality. If you truly want to make it big in the Forex market, use all available resources to learn your new business well. The average newcomer to Forex trading is impatient and wants to go straight to the "good stuff." Their impatience assures they'll never get to the good stuff and instead suffer mainly losses and disappointment. Be determined. Be disciplined. Take the long-term view always. This will instantly set you apart from the losers. Once you have a good, solid knowledge of Forex trading basics, coupled with a well-tested strategy, you have a much better than average chance of making consistent profits in currency trading. After all, isn't that exactly what you're aiming for?
Forex Automoney - Review & Analysis
Introduction to the Forex Market FOREX (FOReign EXchange market) is an international foreign exchange market, where money is sold and bought freely. In its present condition FOREX was launched in the 1970s, when free exchange rates were introduced, and only the participants of the market determine the price of one currency against the other proceeding from supply and demand. As far as the freedom from any external control and free competition are concerned, FOREX is a perfect market. It is also the biggest liquid financial market. According to various assessments, money masses in the market constitute from 1 to 2 trillion US dollars a day. (It is impossible to determine an absolutely exact number because trading is not centralized on an exchange.) Transactions are conducted all over the world via telecommunications 24 hours a day from 00:00 GMT on Monday to 10:00 pm GMT on Friday. Practically in every time zone (that is, in Frankfurt-on-Main, London, New York, Tokyo, Hong Kong, etc.) there are dealers who will quote currencies. Forex Auto Money Review What is Forex AutoMoney? What is Required to do This? Forex AutoMoney is an automated Forex trading signal service. It completely takes the guesswork out of trading in the Forex markets. There is no technical analysis required on your part to use this service. All you have to do is login to get your buy or sell signal. 1. The first thing you need to trade Forex is a computer (PC or MAC) with an Internet connection. It can even be a computer in an Internet cafe or library - it doesn\'t matter. 2. The second thing is money of course. You must sell or buy other currencies using your money. You can start trading with just ONE DOLLAR! However, you will probably want to start with at least $500. Preferably $2000 if you have the money. You can still start trading with less money than this, but, you will not make very much money. 3. The third, and the last thing that is required is the knowledge of when to buy or sell. There are thousands of manuals about Forex, technical analysis, thousands of methods that tell you how you should trade. But they all make trading very complicated and - let\'s be honest - those systems and manuals give you NOTHING and they just do not work most of the time. What is REALLY SIMPLE are so-called ready to use signals: \"buy now\" or \"sell now\". That\'s what\'s best and that\'s what Forex AutoMoeny does. You don\'t have to think anymore - just buy or sell when the signals tell you to. So let\'s sum it up: * you need access to the Internet (obviously you have it already) * a little money (even ONE DOLLAR to start off, although not recommended) * and the Forex AutoMoney membership. That\'s all you need to make money 100% automatically with Forex AutoMoney. And you can start making money right now. Additionally, it takes only a few minutes per day to do the work. All you have to do is log in, read the signal and click to trade. That\'s all. Sounds too easy right? Well, to some extent..it is. How Does It Work? Forex AutoMoney is a monthly membership based Forex trading signal service that uses an innovative intelligent software which automatically analyzes currencies markets and determines when to buy or sell. It can generate buy and sell signals in 3 time frames: 1. intraday - 6 times a day a buy or sell message is generated 2. daily - signals are generated once a day 3. weekly - using these signals you can trade once a week if that\'s all the time you want to invest Of course you can use all 3 systems - you can trade intraday and daily and weekly! This maximizes your profits. You can divide your money up and trade all three time frames if you choose to do so. Of course signals are generated for all major currency pairs, and using all of them can maximizes your profits. Here is an example based on an actual signal generated from the Forex AutoMoney trading system: Currency Pair: EUR/USD Type of Trade: BUY Time to Enter: 10:00 PM EST Get Profit: 120 Pips Stop Loss: 50 Pips In this trade, a 120 pips profit was recorded. This equals to over $1000 trading 1 standard lot or $100 trading 1 mini lot. It only took a couple minutes to enter the trade. Why Use a Service Like Forex AutoMoney? Forex is an extremely volatile market and it can take a long time to learn how to trade successfully without the right tools. Also, during this learning process it is possible to lose a LOT of money. Technical analysis can be quite complicated and is NOT for everyone. Also, there is a huge emotional factor that can affect your trading. It is very unwise to rely on your \"intuition,\" or \"gut feeling,\" when trading the Forex markets. That is gambling. Professional traders that make money day in and day out in the Forex markets rely on systems that are mechanical and remove any chance of having to rely on \"feelings,\" or \"gut instinct.\" Forex AutoMoney, helps to make your trading a mechanical process. It removes the guesswork. Forex Auto Money Pros & Cons Pros of Forex AutoMoney: 1. Very simple to use. 2. Signals are generated by complex mathematical calculations and algorithms making them more accurate 3. Lots of profits have been generated by many people using these signals 4. Saves you the time and hassle of having to monitor the markets 5. Money Back Guarantee 6. 3 day demo trial for $4.95 Cons: 1. You still have to place your trades yourself. The system does not place the trades for you. 2. The manual on using the trading service could be more detailed. (If you try the service through this site, leave your email address under the comments section and we will send you a brief manual that fills in the gaps. Don\'t worry, your email will not be posted publicly.) If one would like to find out more about this particular service, their site can be visited at: http://www.fxauto.pcti-system.com
Fap Turbo VS Mega Droid: Which Forex Bot is better?
We all know that theres a LOT of money to be made in the forex trading market. The newest and easiest was it by using a robot that trades for you 24/7. I've purchased the top two rated robots and have been keeping tabs on their progress.
MegaDroid:
Although MegaDroid was recently released to the public on March 28th it has actually been running since 2004. I have great respect for the creators for testing and perfecting the robot for so long. MegaDroid is the first to use RCTPA technology and is considered to be capable of making very fast trades with 95.82% accuracy. One of the leading problems with the older robots was the inability to open and close the trades fast enough. Since megadroid has only been available to the public for 1 month, there is not a lot of feedback as to how the robot is doing for the general public. For myself, I can say that it is making a steady profit day after day.
MegaDroid is my number one choice for beginners who have little to invest and need a place to start. For those with a larger investment see my review on Fap Turbo.
Forex MegaDroid also offers easy installation, an introductory low price at $97 (soon to be $399), 24/7 support, instructions, member-only access, 1 trading license, very fast trading capabilities, and an outstanding robot that will trade for you 24/7. Its never been easier to make money while you sleep!
Summary: MegaDroid is my number 1 choice for beginners, those with a small investment amount, and those that already have Fap Turbo and want to run more than one trading account.
Get MegaDroid Now.
Fap Turbo:
Fap Turbo is my favorite choice when it comes to those with larger investments and those with experience in the forex market. Its been around since 2007 and it immediately blew all of the other robots out of the water within a week of test time. My one rejection to fap turbo is that the installation process could be difficult for beginners. I myself had to use customer support a few times before I got everything set up. If you're familiar with the installation process, you'll be fine. Since Fap Turbo has been out for quite some time, there is a large amount of information out there from the general public about its successes. You'll also have access to the Fap Turbo Forum after purchasing. This is very helpful if you're curious to see how others are doing.
Fap Turbo offers an average installation experience, a decent price at $140 (sale price), 24/7 support, member-only access, 1 trading license, super fast trading capabilities, tons of proof of success, a 60 day money-back guarantee, dual download options (You can chose the beginner or pro version of the robot)
Summary: Fap Turbo is my number 1 choice for those with larger amounts to invest, those upgrading from MegaDroid, and of course those who just want to have multiple robots working for them. I myself have fap turbo and megadroid running 24/7 for me.
TIP: Fap Turbo is going to recommend using FXDD as your metatrader broker. I do not recommend them. Their spreads are far too high for Fap Turbo to trade well. My fap turbo has been most successful with my Alpari US account.
MegaDroid:
Although MegaDroid was recently released to the public on March 28th it has actually been running since 2004. I have great respect for the creators for testing and perfecting the robot for so long. MegaDroid is the first to use RCTPA technology and is considered to be capable of making very fast trades with 95.82% accuracy. One of the leading problems with the older robots was the inability to open and close the trades fast enough. Since megadroid has only been available to the public for 1 month, there is not a lot of feedback as to how the robot is doing for the general public. For myself, I can say that it is making a steady profit day after day.
MegaDroid is my number one choice for beginners who have little to invest and need a place to start. For those with a larger investment see my review on Fap Turbo.
Forex MegaDroid also offers easy installation, an introductory low price at $97 (soon to be $399), 24/7 support, instructions, member-only access, 1 trading license, very fast trading capabilities, and an outstanding robot that will trade for you 24/7. Its never been easier to make money while you sleep!
Summary: MegaDroid is my number 1 choice for beginners, those with a small investment amount, and those that already have Fap Turbo and want to run more than one trading account.
Get MegaDroid Now.
Fap Turbo:
Fap Turbo is my favorite choice when it comes to those with larger investments and those with experience in the forex market. Its been around since 2007 and it immediately blew all of the other robots out of the water within a week of test time. My one rejection to fap turbo is that the installation process could be difficult for beginners. I myself had to use customer support a few times before I got everything set up. If you're familiar with the installation process, you'll be fine. Since Fap Turbo has been out for quite some time, there is a large amount of information out there from the general public about its successes. You'll also have access to the Fap Turbo Forum after purchasing. This is very helpful if you're curious to see how others are doing.
Fap Turbo offers an average installation experience, a decent price at $140 (sale price), 24/7 support, member-only access, 1 trading license, super fast trading capabilities, tons of proof of success, a 60 day money-back guarantee, dual download options (You can chose the beginner or pro version of the robot)
Summary: Fap Turbo is my number 1 choice for those with larger amounts to invest, those upgrading from MegaDroid, and of course those who just want to have multiple robots working for them. I myself have fap turbo and megadroid running 24/7 for me.
TIP: Fap Turbo is going to recommend using FXDD as your metatrader broker. I do not recommend them. Their spreads are far too high for Fap Turbo to trade well. My fap turbo has been most successful with my Alpari US account.
Online Trading Academy
I am so grateful that I had the privilege of starting my career in the financial markets on the trading floor of the Chicago Mercantile Exchange. The most important lesson I learned was how money is REALLY transferred from one trader's account to another. Every day, retail trader accounts would be transferred into institution accounts, market maker accounts, and so on. When markets would decline to price levels where the institutions had their buy orders (real demand), retail traders and investors would sell because of the decline in price and the bad news that typically accompanies price declines. Institutions would buy at demand, retail would sell, price would then rally and the account transfer was underway. As price rallied, green candles would fill trading screens around the world, good news would start to creep in causing more and more buying which led to more and more of a rally in price until, price reached a level where the institutions were willing sellers, (real supply). At this point, the buying bandwagon was in full force sucking in most retail traders on the buy side, right into institutional supply. As soon as the last novice buyer bought from an institution or market maker at the supply level, price would decline and the account transfer was complete. This was my experience for years. I often thought a simple wire transfer would be quicker and less painful for the novice retail trader or investor but I guess we wouldn't need markets then and that would not be good.
As the trading floors slowly fade away into the black hole that sucks up anything non-electronic, you might think that astute traders are losing the very profitable link to retail traders and that herd mentality. Think again… The supply of novice retail traders and investors who have no idea how to quantify demand and supply (true value) has been exponentially increased thanks to a new market place much larger than the exchange ever was, the "Social Media."
Let it be known that I am the biggest fan of social media. This is the greatest gift to the financial world since, well, not sure I can think of anything else. Let's take Twitter as our first example. I was asked to speak on a Social Media panel in Toronto earlier this year. As I did my research and got more and more involved in Twitter, Facebook, various chat services, I was shocked. On Twitter for example, someone people follow said they had just bought a stock. This message went out to the initial group, then that group's group, then that group's group, and so on… As I watched the stock rise, I thought of Bernie Madoff, only the legal version. The guy who was the first buyer was a genius. Each buyer after him on this enormous chain of "followers" was simply paying those in the chain that bought after him. If you don't have a Twitter account, this is kind of how it works. People find you and start following you. You get an email that actually uses the word "follow." For those who know how to buy low and sell high in a market, we LOVE followers.
Let's take a step back and think about why someone interested in trading and investing would ever choose Social Media as a source for enhancing their financial well-being.
Someone would use social media such as Twitter, IM, Google chat, and others because they are either looking for trading and investing advice and information OR, they may be in search of education. Those who simply want advice and information want it fast… Social Media financial information leads to herd mentality trading and investing like I described above. Those seeking education don't know the difference between real/quality education and useless or misguided education. How could they know the difference? They are looking for it because they are new and don't know. Whether someone is going to Social Media for trading advice or education, going to Social Media is most often a path filled with traps that really speed up the account transfer from those who don't know what they are doing, into the accounts of those who do.
What determines whether you achieve financial success from trading and investing is not faster information and more education; proper information and education separates the haves from the have nots. Social Media is great for personal interaction, relationships, and so on. When it comes to anything having to do with true competition, the Social Media participant who is competing is in big trouble.
Why do you think big trading firms PAY retail brokers for retail order flow??? They want access to the orders from retail, novice traders. Yes, I said they "pay" for your order flow, there is a reason.
Instead of reading all the trading books and learning to buy and sell in markets when everyone else buys and sells which offers no edge…
Instead of acting on the advice of others who likely get paid from that advice, not the advice itself or from trading…
Pay attention to what is happening in front of your eyes on your trading screens and charts every day, week, month, year... Pay attention to what is happening around you. Pay attention to the simple reality of how you make money buying and selling anything.
This is exactly how the astute market player thinks and acts. You likely are already an astute buyer and seller at the grocery store, when you buy a car, and so on. Simply apply that same logic in the trading and investing markets and you will quickly own an edge that most people never come close to. If you feel like your account or savings is slowly being transferred into someone else's account, stop thinking and acting like others do and focus on how things really work.
As the trading floors slowly fade away into the black hole that sucks up anything non-electronic, you might think that astute traders are losing the very profitable link to retail traders and that herd mentality. Think again… The supply of novice retail traders and investors who have no idea how to quantify demand and supply (true value) has been exponentially increased thanks to a new market place much larger than the exchange ever was, the "Social Media."
Let it be known that I am the biggest fan of social media. This is the greatest gift to the financial world since, well, not sure I can think of anything else. Let's take Twitter as our first example. I was asked to speak on a Social Media panel in Toronto earlier this year. As I did my research and got more and more involved in Twitter, Facebook, various chat services, I was shocked. On Twitter for example, someone people follow said they had just bought a stock. This message went out to the initial group, then that group's group, then that group's group, and so on… As I watched the stock rise, I thought of Bernie Madoff, only the legal version. The guy who was the first buyer was a genius. Each buyer after him on this enormous chain of "followers" was simply paying those in the chain that bought after him. If you don't have a Twitter account, this is kind of how it works. People find you and start following you. You get an email that actually uses the word "follow." For those who know how to buy low and sell high in a market, we LOVE followers.
Let's take a step back and think about why someone interested in trading and investing would ever choose Social Media as a source for enhancing their financial well-being.
Someone would use social media such as Twitter, IM, Google chat, and others because they are either looking for trading and investing advice and information OR, they may be in search of education. Those who simply want advice and information want it fast… Social Media financial information leads to herd mentality trading and investing like I described above. Those seeking education don't know the difference between real/quality education and useless or misguided education. How could they know the difference? They are looking for it because they are new and don't know. Whether someone is going to Social Media for trading advice or education, going to Social Media is most often a path filled with traps that really speed up the account transfer from those who don't know what they are doing, into the accounts of those who do.
What determines whether you achieve financial success from trading and investing is not faster information and more education; proper information and education separates the haves from the have nots. Social Media is great for personal interaction, relationships, and so on. When it comes to anything having to do with true competition, the Social Media participant who is competing is in big trouble.
Why do you think big trading firms PAY retail brokers for retail order flow??? They want access to the orders from retail, novice traders. Yes, I said they "pay" for your order flow, there is a reason.
Instead of reading all the trading books and learning to buy and sell in markets when everyone else buys and sells which offers no edge…
Instead of acting on the advice of others who likely get paid from that advice, not the advice itself or from trading…
Pay attention to what is happening in front of your eyes on your trading screens and charts every day, week, month, year... Pay attention to what is happening around you. Pay attention to the simple reality of how you make money buying and selling anything.
This is exactly how the astute market player thinks and acts. You likely are already an astute buyer and seller at the grocery store, when you buy a car, and so on. Simply apply that same logic in the trading and investing markets and you will quickly own an edge that most people never come close to. If you feel like your account or savings is slowly being transferred into someone else's account, stop thinking and acting like others do and focus on how things really work.
Forex currencies quotation system
Currencies are quoted in pairs, for example – EUR/USD or USD/JPY.
The first currency in the pair is called the base currency and the second is called the counter currency.
The base currency is the ‘basis’ for purchases and sales. For example, if you buy EUR/USD, then you acquire Euros and sell Dollars. You do this if you expect the Euro to grow against the Dollar.
It is also possible for a currency pair to be quoted as USD/EUR, but this method is used extremely rarely.
Each transaction must have 2 sides – a buy and a sell (or a sell and a buy).By this we mean that it is impossible to buy 100.000 EUR/USD and then exchange it for another currency pair (i.e.: EUR/JPY) without closing the first position.
Also please note that no physical currency delivery will be made. For these purposes banks and exchange companies, which specialize in low-rate currency conversions are available.
The first currency in the pair is called the base currency and the second is called the counter currency.
The base currency is the ‘basis’ for purchases and sales. For example, if you buy EUR/USD, then you acquire Euros and sell Dollars. You do this if you expect the Euro to grow against the Dollar.
It is also possible for a currency pair to be quoted as USD/EUR, but this method is used extremely rarely.
Each transaction must have 2 sides – a buy and a sell (or a sell and a buy).By this we mean that it is impossible to buy 100.000 EUR/USD and then exchange it for another currency pair (i.e.: EUR/JPY) without closing the first position.
Also please note that no physical currency delivery will be made. For these purposes banks and exchange companies, which specialize in low-rate currency conversions are available.
Forex Justice - The Fair Forex Trading Forum
Foreign exchange currency trading is a risky business with much to lose and much to gain. As a professional forex broker and personal trader, I have realized the fast profits this market can reap, while witnessing the dog-eat-dog nature of the beast, in which buyers lose their shirts every minute. Whether you are a forex trader or just curious about forex currency trading, you owe it to yourself to separate the wheat from the chafe. The Internet is awash in foreign exchange currency trading websites whose sole existences are dependent upon ignorant forex investors. From get-rich-quick forex software schemes to free forex training, forex educational seminars, free forex signals, forex forums, and more, the fraudulence that surrounds the fx trading market is frightening. Forex trading is very different from the U.S. stock market. The major differences include:
Forex has no central exchange
Forex trading can be done around the clock
Forex has no overseeing regulatory commission, such as the SEC
The forex market is a wild, open arena without rules, laws, or a governing body. No one cares if your money is taken. No one will lose any sleep if you’ve been lied to. There are no repercussions if you’re treated unfairly. Investors trade at their own risk and have no legal recourse to enforce justice. I know. I’ve been there. The scammers have burned me more than once. In an attempt to further my own knowledge, I fell for the magical software sales pitches and followed the crooked paths to the stolen treasures, only to be let down ad nauseam.I served my time as a forex broker, which was an eye-opening experience. I heard and saw the manipulation of client profits that was business as usual. It quickly shifted my interest in trading and brokering forex to that of protecting forex traders. I redirected my efforts from studying daily forex signals to researching forex websites. I was determined to devise a resource on which forex investors could rely for honest, fair information exchange.
Know the Scammers
The best advice I can give is don’t trust anyone whose reputation you cannot validate and whose association is not legitimately tied to the actual forex market. This is especially important when selecting your forex broker. The allure of trading forex can be overwhelming. It attracts many eager fx traders willing to gamble away their life’s earnings. Unscrupulous forex brokers, signal providers, fx educators, software peddlers, and forex frauds are waiting, with baited breath, to take your money and turn it into a profit for themselves – all at your expense! The good news is that many forex professionals are honest and reliable, capable of assisting the most inexperienced fx trader succeed. Following forex signals and making profitable currency trades happens 24-hours a day, all around the world. The philosophy behind Forex Justice is to even out the playing field so everyone has a fair chance at winning.
Straight Shooting, Unedited Forex Reviews
Many Forex review websites are thinly veiled as informative, unbiased forex opinion forums. In actuality, they’re doing little more than championing their own causes. These supposedly neutral pages give the broker, forex trader, and interested parties a skewed view of reality. Alternatively, Forex Justice is a revolutionary idea in forex trading. An open, two-way patented forex exchange system, reviews are considered from both the broker’s perspective and the trader’s. This unconventional method of publishing truthful forex stories to the investor and anyone else interested in forex has proven beneficial in reducing the number of forex scam websites and helped traders establish ethical business relationships. This valuable tool, Forex Justice, doesn’t allow peer bashing yet encourages honest communication. Content is always reviewed but never edited so you get straight facts from real experiences. Learn about the way forex trades are conducted and quickly size up the scam artists. The more reviews we receive, the clearer the picture will become.
How the Two-Way Forum Works
Participants, including forex traders and others who have valuable information to contribute, submit reviews for consideration. Once approved, reviews are posted almost immediately. Vendors and professionals reply with comments in the aggregate to the reviews, addressing specific points or with general answers. The communication is limited to one reply per vendor or professional with a limitation on length. This encourages a fair, open forum, without back-and-forth bickering and unnecessary criticism. Sign-up now and join the Forex Justice Forum. Only with the help of real-life forex scenarios and two-way communication, can we turn forex trading into an ethical, trustworthy investment option.
Forex has no central exchange
Forex trading can be done around the clock
Forex has no overseeing regulatory commission, such as the SEC
The forex market is a wild, open arena without rules, laws, or a governing body. No one cares if your money is taken. No one will lose any sleep if you’ve been lied to. There are no repercussions if you’re treated unfairly. Investors trade at their own risk and have no legal recourse to enforce justice. I know. I’ve been there. The scammers have burned me more than once. In an attempt to further my own knowledge, I fell for the magical software sales pitches and followed the crooked paths to the stolen treasures, only to be let down ad nauseam.I served my time as a forex broker, which was an eye-opening experience. I heard and saw the manipulation of client profits that was business as usual. It quickly shifted my interest in trading and brokering forex to that of protecting forex traders. I redirected my efforts from studying daily forex signals to researching forex websites. I was determined to devise a resource on which forex investors could rely for honest, fair information exchange.
Know the Scammers
The best advice I can give is don’t trust anyone whose reputation you cannot validate and whose association is not legitimately tied to the actual forex market. This is especially important when selecting your forex broker. The allure of trading forex can be overwhelming. It attracts many eager fx traders willing to gamble away their life’s earnings. Unscrupulous forex brokers, signal providers, fx educators, software peddlers, and forex frauds are waiting, with baited breath, to take your money and turn it into a profit for themselves – all at your expense! The good news is that many forex professionals are honest and reliable, capable of assisting the most inexperienced fx trader succeed. Following forex signals and making profitable currency trades happens 24-hours a day, all around the world. The philosophy behind Forex Justice is to even out the playing field so everyone has a fair chance at winning.
Straight Shooting, Unedited Forex Reviews
Many Forex review websites are thinly veiled as informative, unbiased forex opinion forums. In actuality, they’re doing little more than championing their own causes. These supposedly neutral pages give the broker, forex trader, and interested parties a skewed view of reality. Alternatively, Forex Justice is a revolutionary idea in forex trading. An open, two-way patented forex exchange system, reviews are considered from both the broker’s perspective and the trader’s. This unconventional method of publishing truthful forex stories to the investor and anyone else interested in forex has proven beneficial in reducing the number of forex scam websites and helped traders establish ethical business relationships. This valuable tool, Forex Justice, doesn’t allow peer bashing yet encourages honest communication. Content is always reviewed but never edited so you get straight facts from real experiences. Learn about the way forex trades are conducted and quickly size up the scam artists. The more reviews we receive, the clearer the picture will become.
How the Two-Way Forum Works
Participants, including forex traders and others who have valuable information to contribute, submit reviews for consideration. Once approved, reviews are posted almost immediately. Vendors and professionals reply with comments in the aggregate to the reviews, addressing specific points or with general answers. The communication is limited to one reply per vendor or professional with a limitation on length. This encourages a fair, open forum, without back-and-forth bickering and unnecessary criticism. Sign-up now and join the Forex Justice Forum. Only with the help of real-life forex scenarios and two-way communication, can we turn forex trading into an ethical, trustworthy investment option.
The Most Crucial Forex Foreign Currency Exchange Tip
If the headline has caught your attention and you have begun to read this article, it means you know something about Forex, also sometimes referred to as Foreign Currency Exchange.
Foreign Currency Exchange trading is a non-stock exchange market that has no physical location. Since Forex trading does not depend on physical location, it operates across the world, non-stop, round the clock, but during weekends. Foreign currency exchange or forex trading covers markets of most countries with general platforms for exchange operations in London, Tokyo and New York.
I am sure you are thinking, "I already know all this! Where is the Foreign Currency Exchange Crucial Tip?"
Returning to the core issue - those of you who consider the profession of Forex trader as prestigious, romantic, and analytical, throwing some light on Forex facts was something I considered appropriate at this stage.
Secondly, for those who think trading in foreign currency exchange is about making easy and crazy money from the comforts of your holiday home in the Caribbean, I am taking a tiny detour (again!) to tell you that if Forex trading was that simple most other professions would be extinct by now. If you know how to read between the lines, a million dollar tip is hidden right there!
Some of you might know people who consider it a dull profession. While some of you may know individuals who are absolutely and passionately in love with Foreign Currency Exchange trading not only for the kind of money it makes for them, but also for the challenges it exposes them to!
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The truth lies in the middle. Forex is about all the above - passion, strategy, analytics, not to forget the luck factor! The most important of the Foreign Currency Exchange tips is: do not start doing forex out of fun or to test your luck. To succeed at Foreign Currency Exchange Trading you will need to be skilled and smart, you will need to work hard, you will have to learn to face and deal with challenges and risks.
Here is another tip - Once you decide to trade forex, it is crucial to choose a reliable Foreign Currency Exchange trading company. They will help you to minimize risks. Learn as much about the forex, currencies, and markets as you can. Luck constitutes merely 1% to your success.
Lastly, don't give up! There will be losses, surely. But without losses where is the scope for revenue? Our parents were not wrong when they instilled the No pain - No Gain lesson in us. Believe in the fact that only practice can bring you one step closer to success.
So that is that. I promised you one tip and have ended up sharing far too many. I sincerely hope they help you to enjoy forex trading and finally build wealth for yourself.
Foreign Currency Exchange trading is a non-stock exchange market that has no physical location. Since Forex trading does not depend on physical location, it operates across the world, non-stop, round the clock, but during weekends. Foreign currency exchange or forex trading covers markets of most countries with general platforms for exchange operations in London, Tokyo and New York.
I am sure you are thinking, "I already know all this! Where is the Foreign Currency Exchange Crucial Tip?"
Returning to the core issue - those of you who consider the profession of Forex trader as prestigious, romantic, and analytical, throwing some light on Forex facts was something I considered appropriate at this stage.
Secondly, for those who think trading in foreign currency exchange is about making easy and crazy money from the comforts of your holiday home in the Caribbean, I am taking a tiny detour (again!) to tell you that if Forex trading was that simple most other professions would be extinct by now. If you know how to read between the lines, a million dollar tip is hidden right there!
Some of you might know people who consider it a dull profession. While some of you may know individuals who are absolutely and passionately in love with Foreign Currency Exchange trading not only for the kind of money it makes for them, but also for the challenges it exposes them to!
google_protectAndRun("ads_core.google_render_ad", google_handleError, google_render_ad);
The truth lies in the middle. Forex is about all the above - passion, strategy, analytics, not to forget the luck factor! The most important of the Foreign Currency Exchange tips is: do not start doing forex out of fun or to test your luck. To succeed at Foreign Currency Exchange Trading you will need to be skilled and smart, you will need to work hard, you will have to learn to face and deal with challenges and risks.
Here is another tip - Once you decide to trade forex, it is crucial to choose a reliable Foreign Currency Exchange trading company. They will help you to minimize risks. Learn as much about the forex, currencies, and markets as you can. Luck constitutes merely 1% to your success.
Lastly, don't give up! There will be losses, surely. But without losses where is the scope for revenue? Our parents were not wrong when they instilled the No pain - No Gain lesson in us. Believe in the fact that only practice can bring you one step closer to success.
So that is that. I promised you one tip and have ended up sharing far too many. I sincerely hope they help you to enjoy forex trading and finally build wealth for yourself.
What is the Forex technical analysis?
The forex technical analysis is concerned with what has actually happened in the forex market, rather than what should happen.
A technical analyst will study the price and volume movements and from that data create charts (derived from the actions of the market players) to use as his primary tool. The technical analyst is not much concerned with any of the “bigger picture” factors affecting the market, as is the fundamental analyst, but concentrates on the activity of that instrument’s market.
Technical analysis is based on three underlying principles:
1. Market action discounts everything
This means that the actual price is a reflection of everything that is known to the market that could affect it, for example, supply and demand, political factors and market sentiment. The pure technical analyst is only concerned with price movements, not with the reasons for any changes.
2. Prices move in trends
Technical analysis is used to identify patterns of market behaviour which have long been recognised as significant. For many given patterns there is a high probability that they will produce the expected results. Also there are recognised patterns which repeat themselves on a consistent basis.
3. History repeats itself
Chart patterns have been recognised and categorised for over 100 years and the manner in which many patterns are repeated leads to the conclusion that human psychology changes little with time.
List of categories of the technical analysis theory:
* Indicators (Oscillators, eg: Relative Strength Index RSI)
* Number theory (Fibonacci numbers, Gann numbers)
* Waves (Elliott wave theory)
* Gaps (High-Low, Open-Closing)
* Trends (Following Moving Average)
* Chart formations (Triangles, Head & Shoulders, Channels)
A technical analyst will study the price and volume movements and from that data create charts (derived from the actions of the market players) to use as his primary tool. The technical analyst is not much concerned with any of the “bigger picture” factors affecting the market, as is the fundamental analyst, but concentrates on the activity of that instrument’s market.
Technical analysis is based on three underlying principles:
1. Market action discounts everything
This means that the actual price is a reflection of everything that is known to the market that could affect it, for example, supply and demand, political factors and market sentiment. The pure technical analyst is only concerned with price movements, not with the reasons for any changes.
2. Prices move in trends
Technical analysis is used to identify patterns of market behaviour which have long been recognised as significant. For many given patterns there is a high probability that they will produce the expected results. Also there are recognised patterns which repeat themselves on a consistent basis.
3. History repeats itself
Chart patterns have been recognised and categorised for over 100 years and the manner in which many patterns are repeated leads to the conclusion that human psychology changes little with time.
List of categories of the technical analysis theory:
* Indicators (Oscillators, eg: Relative Strength Index RSI)
* Number theory (Fibonacci numbers, Gann numbers)
* Waves (Elliott wave theory)
* Gaps (High-Low, Open-Closing)
* Trends (Following Moving Average)
* Chart formations (Triangles, Head & Shoulders, Channels)
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