Tuesday, February 24, 2009
How to Choose a Forex Broker
How to Choose a Forex Broker
Choosing a good forex broker is one of the most important decisions you need to make at the beginning (or at any point) of your forex trading career. Do not take this decision lightly, but at the same time don’t stress over it – the process does not need to be complicated – just like in your trading decision, once you do your homework, things fall into place. Chance favors the prepared mind. Everything you need to make an informed decision is listed right here. All you have to do is follow the advice given and you will find yourself a broker that suits your needs. If you are not familiar with what is available, you can have a look at the brokers we have listed in our Broker Reviews section to familiarize yourself with who is who in the forex world. If you have already narrowed down your search to just a few, or even one broker, and want to be sure that they are in fact what you want then keep reading.
For More Details Visit www.forextradingzone.org
StraightForex Forex Courses
StraightForex Forex Courses
| SF Intensive Forex Mentor Our most complete course, recommended for traders who want to speed up the learning curve. In this course you will learn: advanced techniques of technical analysis, risk and position management, the system we use right now to trade the forex market. We will apply all this during live market conditions. In this course our students learn to trade short and long term charts. Includes 25 hours of live conference sessions.
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| SF Advanced Forex Training In the SF Advanced you will find information about our trading strategies, risk and position management strategies, money management strategies, psychology and more. Includes one month of one-on-one coaching through the online platform.
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| SF Coaching Forex Education The main objective of the SF Coaching course is to introduce novice traders and traders with experience on other financial markets to the incredible world of forex. All basic concepts, fundamental analysis, technical analysis (including: technical indicators, chart patterns and candlesticks) and more is covered in this course.
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| SF Seminar Forex Consulting For traders who want a course designed for his or her specific needs, companies or banks who want training for fund managers, money managers in search for new strategies. For More Details visit www.straightforex.com/forex-courses.html |
Mini Forex Trading
Mini Forex Trading
f you are just starting out in foreign currency trading then you will almost certainly want to start by trying your hand with a mini Forex trading account.
Although it varies from one broker to the next, a Forex trading account can usually be opened with $2,500 or more. However, for those who are new to the world of currency trading then a Forex mini trading account can often be opened for as little as just $250.
A standard account will usually be operated in trading lots of 100,000 (meaning that you have to purchase 100,000 dollars, euros, yen etc.) whereas a mini Forex account you will normally allow you to trade in lots of just 10,000.
A mini Forex trading account operates by allowing you to use leverage in trading so that you are effectively trading with more money than you actually have in your account. The leverage available will vary between brokers, but is typically in the region of 200 to 1.
So, what does this mean?
If we assume that the minimum required to trade a lot is $10,000 then, with a leverage of 200 to 1, you would be able to trade with as little as $50 ($50 X 200 = $10,000) and so, with an initial deposit of $250, you would be able to trade up to 5 lots.
This is of course a very simple introduction to online mini account Forex trading and there is a little bit more to it than portrayed here.
Nevertheless, the principle behind Forex mini trading is simply to allow those who are just starting out in the world of foreign exchange trading to learn the ropes without investing too much money or taking too high a risk.
Just look for Forex mini online or a Forex managed mini account and find a broker who offers a Forex mini demo and the best mini Forex fully automated trading.
For More Details Visit www.learningforextradingonline.com
Free Forex Course
Free Forex Course
This free forex online course is recommended for novice traders and traders with experience in other financial markets:
Access to this course is 100% FREE
All students have access to the general student forum (Free Forex Education)
Quizzes and Q&A section for each lesson in the course material
Self paced course, access at a convenient time for you
11 lessons cover: technical indicators, chart patterns, brokers and more.
Complete all Quizzes and get a FREE certificate.
Note: Everyone has access to this course. However, if you want to take full advantage of the Free Forex training and have access to all quizzes and participate in the Q&A section you need to register to our forum. Once you have successfully registered, send a mail to course@straightforex.com with the username you chose and you will receive the password to complete all quizzes.
Things To Know About Forex
Things You Should Know About Forex Trading
How difficult is it to make money trading the Forex market? How much time does it take to actually be able to make a living trading the Forex market? These and other important aspects of trading are to be discussed in this article.
Trading the Forex market has many benefits over other financial markets, among the most important are: superior liquidity, 24hrs market, better execution, and others. Traders and investor see the Forex market as a new speculation or diversifying opportunity because of these benefits. Does this mean that it is easy to make money trading the Forex Market? Not at all.
Forex brokers agree that 90% of traders end up losing money, 5% of traders end up at break even and only 5% of them achieve consistent profitable results. With these statistics shown, I don’t consider trading to be an easy task. But, is it harder to master any other endeavor? I don’t think so, consider musicians, writers, or even other businesses, the success rates are about the same, there are a whole bunch of them who never got to the top.
Now that we know it is not easy to achieve consistent profitable results, a must question would be, Why is it that some traders succeed while others fail to trade successfully in the Forex market? There is no hard answer to this question, or a recipe to follow to achieve consistent profitable results. What we do know is that traders that reach the top think different. That’s right, they don’t follow the crowd, they are an independent part of the crowd.
A few things that separate the top traders from the rest are:
Education: They are very well educated in the matter; they have chosen to learn every single and important aspect of trading. The best traders know that every trade is a learning experience. They approach the Forex market with humility, otherwise the market will prove them wrong.
Forex trading system: Top traders have a Forex trading system. They have the discipline to follow it rigorously, because they know that only the trades that are signaled by their system have a greater rate of success.
Price behavior: They have incorporated price behavior into their trading systems. They know price action has the last word.
Money management: Avoiding the risk of ruin is a primary subject to the best traders. After all, you cannot succeed without funds in your trading account.
Trading psychology: They are aware of every psychological issue that affects the decisions made by traders. They have accepted the fact that every individual trade has two probable outcomes, not just the winning side.
These are, among others, the most important factors that influence the success rate of Forex traders.
We know now that it is not easy to make money trading the Forex market, but it is possible. We also discussed the most important factors that influence the rate of success of Forex traders. But, how much time does it take to have consistent profitable results? It is different from trader to trader. For some, it could take a life time, and still don’t get the desired results, for some others, a few years are enough to get consistent profitable results. The answer to this question may vary, but what I want to make clear here is that trading successfully is a process, it’s not something you can do in a short period of time.
Trading successfully is no easy task; it is a process and could take years to achieve the desired results. There are a few things though every trader should take in consideration that could accelerate the process: having a trading system, using money management, education, being aware of psychological issues, discipline to follow your trading system and your trading plan, and others.
For More Details Visit www.straightforex.com
How Much Money Do I Need To Start?
How Much Money Do I Need To Start?
This all depends on the size of size of lots you want to trade.
To open the smallest account size, called a micro account, you need to make an initial deposit of $500 USD. This all that is required to begin trading our system.
The next largest account size is called a mini account, and trades positions 10 times larger than a micro account. Therefore you would need $5,000 to open a mini account and be able to trade our system effectively.
The largest account size is called a standard account size, and trades positions 100 times larger than a micro account. You would need $50,000 to open a standard account and be able to trade our system effectively.
For More Details Visit www.prosperatrade.com
Forex? What is it, anyway?
Forex? What is it, anyway?
The market
The currency trading (FOREX) market is the biggest and the fastest growing market on earth. Its daily turnover is more than 2.5 trillion dollars, which is 100 times greater than the NASDAQ daily turnover. (click here to read full market background by Easy-Forex™).
Markets are places to trade goods. The same goes with FOREX. The Forex goods (or merchandise) are the currencies of various countries. You buy Euro, paying with US dollars, or you sell Japanese Yens for Canadian dollars. That's all.
How does one profit in Forex?
Very simple and obvious: buy cheap and sell for more! The profit is generated from the fluctuations (changes) in the currency exchange market.
The nice thing about the FOREX market, is that regular daily fluctuations, say - around 1%, are multiplied by 100! (in general, Easy-Forex™ offers trading ratios from 1:50 to 1:200). If, for example, the exchange rate of "your" pair of currencies increased by 0.6% in the last 4 hours, your profit will be 60% on your investment! Such can happen in one business day, or in a few hours, even minutes.
Moreover, you cannot lose more than your "margin"! You may profit unlimited amounts, but you never lose more than what you initially risked and invested.
You can implement your choice (the pair of currencies, the volume amount) under any direction to which the market is moving, and yet make profit. It does not matter whether the exchange rate is going up or down: you can always decide to buy Euro and sell dollar, or vice versa - buy dollar and sell Euro. You don't have to physically possess certain currencies in order to perform "buy" or "sell" with them.
How do I start?
Register (Easy-Forex™ offers the simplest and quickest registration process, no obligation); deposit your first trading "margin" amount (credit cards are welcome, only by Easy-Forex™); start trading.
It can't be simpler or easier than that. Need help? We'll provide you with 1-on-1 training and service, as much as necessary (Easy-Forex™ offers real people service, live, in your own language).
How do I trade Forex?
You select the pair of currencies with which you wish to make a Forex deal. You determine the volume (the amount of the deal). You deposit the "margin" (collateral needed to facilitate the deal. Usually - only a very small portion of the whole deal, say: 1% or 1:100).
Before you finally activate the deal, you can still "freeze" it for a few seconds. That enables you to either change the terms, or accept it as is, or altogether regret the whole idea. The "freeze" feature is a unique service by Easy-Forex™.
When your Forex deal is running (you hold an "open position"), you can monitor its status and check scenarios online, whenever you wish. You may change some terms in the deal, or close it (and cash the profit, if any, or minimize the loss, if any). Moreover,Easy-Forex™ lets you determine a "take-profit" rate, with which the deal will close automatically for you, when and if such rate occurs in the market. Meaning: you do not have to stay near your computer when you hold open positions.
Want to know more? Want to get on-line training? Register here (simple, quick, no obligation), we'll be glad to guide you, every step of the way.
The market
The currency trading (FOREX) market is the biggest and the fastest growing market on earth. Its daily turnover is more than 2.5 trillion dollars, which is 100 times greater than the NASDAQ daily turnover. (click here to read full market background by Easy-Forex™).
Markets are places to trade goods. The same goes with FOREX. The Forex goods (or merchandise) are the currencies of various countries. You buy Euro, paying with US dollars, or you sell Japanese Yens for Canadian dollars. That's all.
How does one profit in Forex?
Very simple and obvious: buy cheap and sell for more! The profit is generated from the fluctuations (changes) in the currency exchange market.
The nice thing about the FOREX market, is that regular daily fluctuations, say - around 1%, are multiplied by 100! (in general, Easy-Forex™ offers trading ratios from 1:50 to 1:200). If, for example, the exchange rate of "your" pair of currencies increased by 0.6% in the last 4 hours, your profit will be 60% on your investment! Such can happen in one business day, or in a few hours, even minutes.
Moreover, you cannot lose more than your "margin"! You may profit unlimited amounts, but you never lose more than what you initially risked and invested.
You can implement your choice (the pair of currencies, the volume amount) under any direction to which the market is moving, and yet make profit. It does not matter whether the exchange rate is going up or down: you can always decide to buy Euro and sell dollar, or vice versa - buy dollar and sell Euro. You don't have to physically possess certain currencies in order to perform "buy" or "sell" with them.
How do I start?
Register (Easy-Forex™ offers the simplest and quickest registration process, no obligation); deposit your first trading "margin" amount (credit cards are welcome, only by Easy-Forex™); start trading.
It can't be simpler or easier than that. Need help? We'll provide you with 1-on-1 training and service, as much as necessary (Easy-Forex™ offers real people service, live, in your own language).
How do I trade Forex?
You select the pair of currencies with which you wish to make a Forex deal. You determine the volume (the amount of the deal). You deposit the "margin" (collateral needed to facilitate the deal. Usually - only a very small portion of the whole deal, say: 1% or 1:100).
Before you finally activate the deal, you can still "freeze" it for a few seconds. That enables you to either change the terms, or accept it as is, or altogether regret the whole idea. The "freeze" feature is a unique service by Easy-Forex™.
When your Forex deal is running (you hold an "open position"), you can monitor its status and check scenarios online, whenever you wish. You may change some terms in the deal, or close it (and cash the profit, if any, or minimize the loss, if any). Moreover,Easy-Forex™ lets you determine a "take-profit" rate, with which the deal will close automatically for you, when and if such rate occurs in the market. Meaning: you do not have to stay near your computer when you hold open positions.
Want to know more? Want to get on-line training? Register here (simple, quick, no obligation), we'll be glad to guide you, every step of the way.
For More Details Visit www.forex-directory.org
Basic Technical Analysis
Basic Technical Analysis
What really works in TA
This part of technical analysis works perfectly. It isn't based on any complicated indicators just on past and current price action. Basic technical analysis include all methods based on drawing trend lines, recognizing sideways trends and breakouts from it. Also major and minor support and resistance levels, gaps, stoploss hunting and all things plainly visible on any price chart. Knowledge and experience in spotting and using them is vital for gaining success on any financial market around.
Trend is your friend
Don't betray your market friends
Most of people when sit before price chart with very strong up trend sells as they see that it won't go any higher. If you traded before you certainly know this course of action but let me ask you - what is the probability that trend will break just when you start to watch it? Most of people when they see situation for a first time would buy but longer they try to trade then they spend more and more time on trying to recognize top of tops or lowest bottom and buy/sell on them. I assure you that entering with trend and getting profit is much easier than spotting highest highs or lowest lows. Best places to enter with trend are of course discounts but this we will cover in one of next articles.
Formations
Price making pictures
Patterns that price movements are forming from time to time have also some importance. This part is rather difficult because patterns are rarely precise. To spot them and use them you need some experience that comes from practice only. Many traders are using chart patterns in market situation assessment both to describe big picture situation and short term decision making.
For More Details Visit www.forex-directory.org/forexarticles/basicanalysis.php
Currency pairs
Currency pairs
Our trading vehicles
Instruments traded on most popular forex spot market are currency pairs. EUR/USD, USD/JPY, GBP/CHF these are our trading vehicles. Currency pair price equals the ratio of one currency valued against another. The first currency in pair is called base currency, the second one is referred as the quote currency. When you want to buy, an currency pair price specifies how much quote currency you have to pay to obtain one lot of the base currency. When you want to sell, the currency pair price specifies how much quote currency you get when selling one lot of the base currency.
ISO Currency Symbols
All currencies are assigned an ISO (International Standards Organization) code abbreviation. US dollar is as you probably noticed referred as USD, GBP is United Kingdom Pound etc. These abbreviations are commonly used to describe currencies in financial world. List of currency codes is placed [ here ].
Pip and its value
What we are earning here?
While during trading stocks traders are earning cents or its fractions, when trading futures points are being earned or lost during forex trading we are earning or losing pips. Depending on currency pair pips are second or fourth place after coma. For example exchange rate (or currency pair price) for EUR/USD is as for now 1.2068. If it raise to 1.2075 it will be 7 pips up. USD/JPY price is 118.51, pips here are describing second place after coma. Pips can have different values depending in which currency account is denominated. If account is denominated in USD each pip earned in different currency than USD need to be exchanged to USD. In example when we trade USD/JPY we are earning or losing JPY pips. To add then to our USD denominated trading account we need to exchange them to USD. We will look then for JPY/USD exchange rate and we will see how much JPY pip is worth. Every trading platform does such calculations automatically but its good to know why on some pairs we are earning more dollars per pip when on others we earn less. On major currency pairs pips value vary from as low as $0.7 to as high as $1.6. These values are of course approximations as they depend on exchange rates which are changing every minute.
For More Details Visit www.forex-directory.org/forexarticles/currencypairs.php
What Exactly Is Forex Autotrading?
What Exactly Is Forex Autotrading?
Forex autotrading is a technology that executes all trades (opening/closing and stops) on your behalf, without the need for human intervention. We have introduced this technology to ProsperaTrade, creating a 99% hands-free trading system.
For more details visit www.prosperatrade.com
How To Start Trading
How To Setup And Start Trading
Our goal when creating this opportunity was to make the setup process as simple and easy to understand as possible. We do this by showing you step-by-step, how to create a subscription, open a live or demo account, download and use the automated trading software, enter the weekly trades, and manage your money.
We want to put you on the path to profitability sooner than later, and therefore have made every effort to make the entire process user-friendly, catering to the complete beginner.
To begin, go to the "Get Started" button on the top right of the main web page. Follow the simple instructions to create your subscription. Once you have done so, you will be given a username and password to login to the online members area. Waiting for you there will be the easy step-by-step instructions on how to begin using the system.
As always, if you have any questions along the way that aren't answered on our website, we have friendly and knowledgeable support staff available 7 days a week ready to help.
For More Details Visit www.prosperatrade.com
Rules for forex traders
Rules for forex traders
Understand the basics of technical analysis. You don’t need to be a quant-geek to be successful, but understanding the first ten chapters or so of the classic Technical Analysis of the Futures Markets: A Comprehensive Guide to Trading Methods and Applications by John J. Murphy would be a great start. When the fundamental and technical outlooks for a currency differ, always side with the techs. When the fundamental and technical outlooks for a currency converge, go for it! Take a more aggressive position than normal.
There are 3 little Rules
For More Details Visit www.forexlive.com/three-little-rules
A New Discovery... A New Opportunity
A New Discovery... A New Opportunity
If the idea of foreign exchange trading (Forex) is new to you, you may be thinking it is too complicated or risky to be worth trying. It's true that the majority of Forex trading systems currently online require hours of studying and analyzing the markets, and need large amounts of capital to properly trade. And with over 90% of these systems unable to make consistent profits in both the short and long-term, it's no wonder people are left frustrated, as they watch their trading account dwindle.
ProsperaTrade changes all this, by providing one of the greatest technological breakthroughs ever applied to the Forex markets in recent years. Our technology eliminates the complication and confusion associated with learning how to trade, by providing an automated solution, that literally does the trading for you! If you think it takes loads of time, and persistent studying of the markets to trade successfully we're here to tell you that that's old news, (or old school).
ProsperaTrade's "new school" system only takes a few minutes to learn, and once you have set it up, there is absolutely nothing more to learn! You don't have to be watching the markets all week long, paying attention to news events, and losing sleep over your trading.
With ProsperaTrade, all that is required from you is about 5-10 minutes every weekend. That's it! Just a few minutes once a week to take the new trade details from our members area and plug them into the automated trading software. Then the software will take care of everything else for you, for the entire week!
What this breakthrough automated system means for you:
 | 3 different profitable trading systems to choose from |
| A system designed for and catered to absolute beginners |
| Set your trading on autopilot using the auto-trading software |
| Only 5-10 minutes required each weekend to input new trades |
| Profit from one of the most lucrative systems in the world |
| 99% hands free trading cuts out the "emotion factor" |
| Incredibly simple to learn and easy to set up |
To learn more about the trading system, visit the links under the "System Details" heading. Once you are ready to start, click the "Get Started" button on the top right of the website and follow the simple direction to setup your membership.
For More Details Visit www.prosperatrade.com/forex-trading-system.html
Forex Ebooks, Systems & Strategies
Forex Ebooks, Systems & Strategies
 | Bird Watching in Lion Country - Retail Forex Trading Explained When I wrote BWILC I knew it would be great, revolutionary and eye popping. What I didn't expect in my wildest fantasies was that individual readers would compare it favourably with Reminiscences of a Stock Operator and Trading for a Living. Read more - DrForex (Dirk du Toit) |
 |  Black Dog Trading SystemIntroducing a new forex trading system from seasoned and professional trader, Dave Atkinson. This system uses clearly defined entry and exit rules and comes with full customer support. Get your hands on a copy of Dave Atkinson's, "Black Dog Trading System" receiving rave reviews from customers. Get the Mini-trend Finder - a second system absolutely free with your purchase of the Black Dog Trading System! Read more |
 | Forex Profits Forex Profits is a simple and straight forward mechanical strategy for trading the forex market using MACD and some clear rules for entering and exiting a trade. Written by Dr. Jeff Wilde, a trader with 15 years experience, Forex Profits could get you up and trading quickly in the forex market. Comes with a 60 day money-back guarantee. Read More See also Ultimate Forex System by Jeff Wilde. |
 | Ultimate Forex System From the author of Forex Profits comes another simple strategy to trade the forex market. The Ultimate Forex System comes with a 38 page ebook and 17 videos to help you get up and trading quickly. Comes with an unconditional 60 day money back guarantee. Read More |
 | Forex Trading Strategy Learn how to trade EUR/USD, USD/CAD, GBP/USD or any other major currency pair by mastering a system that combines top level mathematics with the fundamental principles of human behaviour. Comes with a 60 day money-back guarantee. Read More |
 | The Affluent Desktop Currency Trader The Affluent Desktop Currency Trader is a step-by-step training manual that includes 9 separate trading strategies you can learn to apply to your everyday forex trading. Comes with a money-back guarantee. Read More Get Part 1 of "The Affluent Desktop Currency Trader" free! For More Details Visit www.goforex.net/forex-ebooks.htm |
An Introduction to Forex Trading
An Introduction to Forex Trading
Firstly, I'd like to say welcome to this site! This site was designed to provide information for traders and investors who want to learn about the forex market and what it can offer. To help you navigate the site better, choose from one of the following three categories below as to what level of knowledge and experience you have of the forex market:
Select the Category you fall under:
- Little to No Experience of Trading: If you have absolutely no experience of the forex market or trading, there are two options:
- Option 1: Open a Managed Account
- Option 2: Learn How to Trade
- Self-Trader: If you have some knowledge or experience of the forex market, there are three options:
- Option 1: Learn new strategies
- Option 2: Use third-party systems and signals
- Option 3: Open a Managed Account
- Professional Trader or Investor: If you are a professional trader or investor, you may be interested in forex hedge funds, managed accounts, custom programming and the like. All other products and services can be found in the menu to the left.
- Option 1: Hedge Funds
- Option 2: Managed Forex Accounts
- Option 3: Custom Programming
- Option 4: Other products and services such as VPS Hosting, Autotrading, & Automated Trading Systems
- Forex Broker, Hedge Fund or Prospective Forex Broker: If you are a forex broker, hedge fund or prospective forex broker looking for a new trading platform, a MetaTrader-ECN bridge, PAMM money management software, custom programming and the like, please click on the link below for a list of options available.
- Option 1: Merchant Broker Software
For more Details visit www.goforex.net/forex-guide.htm
New to the Forex market?
New to the Forex market?
We've worked hard to distill our collective trading experience into an approach suitable for all skill levels.
Step 1: Understand the FOREX market.
Dive into Forex 101 for a compact overview of the basics or sit back and join us at one of our live interactivewebinars.
Step 2: Prepare to trade in a live environment.
Register for one of our training courses and study at your own pace or join us at a local workshop, where our experienced instructors can teach you in a dynamic classroom setting.
Step 3: Test your skills risk free.
Sharpen your technical analysis techniques with a free 30 day practice account.
Forex training and education
Forex training and education
Trade on spreads as low as 1-2 pips on the most widely traded currencies. As always, you pay no commissions at FOREX.com, only the bid/offer spread. Our prices are quoted in more precise 0.1 pip increments to help you take advantage of smaller price movements. Learn more about our pricing.
For More Detail Visit www.forex.com
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