I really want to practice owning a hedge fund and stuff. And wondering if there was a game that let you own a hedge fund virtually and run it virtually. Like a simulation.

Answer
Do you have any idea what hedge funds do? You can't simulate running a hedge fund.

Edit: "Of course, they don't just dabble in stocks. Forex, credit, commodity, venture capital are all other markets that hedge funds speculate in." Some of the securities held at hedge funds I have particpated in include defaulted lease obligations on aircraft, bankruptcy claims in Venezuelan courts, power dellivery rights, unfunded German bonding facilities of bankrupt companies, all manner of custom options including rainbow and basket options, a ground photography satellite, toxic mortgage derivatives, etc, etc. How are you going to simulate that?

Edit: good thing that some geniuses here give me thumbs down - perhaps they know how to simulate hedge funds. Lol. I'll bet they have never been through the front door of a hedge fund.

Normal Leverage of a Hedge fund or famous traders?

Where can I find information about average leverage used by hedge funds or famous traders like soros? I'm particulary interested in forex/equity areas.

Answer
I can tell you some ranges but I think most data is a closely guarded secret for hedge funds that are currently active. Thats quite sensitive info that can be used to hurt highly levereged funds.


Most investment banks right now were at between 8:1 and 12:1 leverage. Some of them, esp Goldman Sachs are basically hedge funds in terms of operations. Bear Stearns was at about 10:1 when it blew up.

There are some hedge funds operating at about 20X leverage but that is REALLY pushing it and it applies prob exclusively to Forex trading and arbitrage since they have the smallest moves to make a profit.

Finally the famous LTCM fund which blew up had 35:1 leverage the most I have ever heard of and they nearly destroyed the US bond markets single handedly.

The appropriate amount of leverage to use is one of the hardest things to find out since it depends on the market, the volatility, the economic environment, the liquidity, the spreads in the market, and a whole host of other issues. I personally doubt most funds and traders and operate at more than 15X leverage without running into serious problems in the long term.

Can any one suggest about doing Forex trading from online from India is legal and also which method of depositing and withdrawal is good to do with Forex trading company which is for a safety purpose and also to cut the taxes?What is the RBI standing for a Forex Trading by Individual in India at now?

Answer
RBI guidelines keep on changing. Every system has loopholes.

You need to evaluate many points:

1) What is the standing of the broker as per the rgulations- regulated or now?
2) Do they have any necessary approvals required for remittances?
and many more:

Suggest to check the RBI gidelines and look for the finer points there:

1) http://www.rbi.org.in/Scripts/FAQView.aspx?Id=66
2) http://www.rbi.org.in/scripts/FAQView.aspx?Id=53

These are covered in the following post:
http://www.forexabode.com/forum/viewtopic.php?f=5&t=52

Is forex banned only in India or also for Non residing Indians?

I know Forex trading is banned in India. But is it banned also for NRIs? (Non Residing Indians) I'm in India and I can't trade. But my friend in Australia can trade although he's an Indian by citizenship isn't it? So If I invest with him, he can trade and send me my profit share through Western Union Money Transfer right?

Answer
I have Indian friends in New Zealand opened accounts for friends in India.
Their friends then trade from India.
My Indian friends are not New Zealand citizens so I am sure it will work te same for you.

If I was to put in $1000 into a forex trading company, what is the realistic result I would get from that in one month period?

Answer
The Forex market is an excellent way to make money. What people do not realize is that there are three types of investors: Short-term, mid-term, and long-term. I myself am a short term investor, since that is the fastest way to get paid, making money on the little movements on the market. The only thing though is that you must watch the market like a hawk. It is a job, just like any other job, but it is a cool job. In order to really make money in the forex market, and enjoy life at the same time is to buy a laptop computer, go to Starbucks, or some coffee shop that has pretty girls walking by, (for motivation) and WORK!!!!! Watch every little movement on every pair.

If you want to invest short term, have a small goal. I trade on www.forex.com where you can trade on 200:1 margin. Now, you said you have $1000 to invest, that means you can trade 200,000 USD. What you do is you buy 5 lots and try to earn 10 pips on it. Do this every day for 5 weeks and you now have $2000. In five weeks your investment will compound.

Also, study the concept of Japanese candlesticks. You need to be an expert on how the Japanese canlesticks work. Here is that website for you. My e-mail address is ej105@hotmail.com if you have any questions. I will look forward to meeting you on the top of the ladder of success!!!!!!!

What to consider when choosing a Forex broker?

I have $5000 and I'm interested in trading forex. What are the best brokers on the internet?
Also when they say minimum trade size micro unit (1k) does that mean I have to buy at least 1000 units which is for instance for a currency (1.05) $1005?
Also what is the lot size? Is that the range of profit/loss? Like instead of gaining $1 for 1 pip gain $10 if I change the lot size?

Thanks

Answer
Wow... you're on your way to an unbelievable surprise.

There are no good Forex Brokers... there are only Forex Brokers that are not as bad as most.

The first thing you want to consider is where is the corporate headquarters (what country?). Assuming you're from the USA... make sure they are licensed in the USA. Do not, for any reason, deal with a Forex Broker not licensed in your home country.

The next thing is to compare the "spread" charges. All these brokers advertise "no commissions".You'd actually be better off with a commission charge than the way they charge (by the spread). Make sure that the pairs that you'll be trading have comparatively smaller spreads than the competition.

No matter what you see on the web (especially from the brokers)... understand that it will take, on average 3-5 years to be profitable in any type of trading. Forex traders usually destroy their account in days, weeks or months.

The free "classes" taught by the brokers are a joke. They concentrate on the least important aspect of trading, which is Technical Analysis. The two fields of study, significantly more important are;
A. Psychology (yours and the markets).
B. Risk Management.

Read 6-12 books on trading and another 2-3 books on Forex Trading before you open a Forex brokerage account.

Good luck!

I understand that you buy currency in "lots" and depending if they go up or down in value you make in profit or loss.

I just don't understand why the currencies are paired like "EUR/GBP".

Can someone help me understand the actual process taking place when people trade currency?

Answer
In simple word:

EURGBP = you have / use EUR to buy GBP, the exchange rates is 1 EUR = xxx GBP

why does the Forex market always go in the opposite direction of a trade I place?

I've tried trading the Forex market. 99% of the trades go the opposite of the trade I make. The odds are extreme if this is coincidence. The stock either goes up, down or sideways, but the moment I go into it, it goes in the opposite direction. Is this rigged?

Answer
It's not rigged, but you need a strategy. You can find a good strategy at: http://comefollowme.zulutrade.com

And you need a non-dealing-desk broker. Brokers with dealing desks can sometimes make the chart move against you, though that's kind of rare. A great broker is: http://www.etoro.com/B66_A29675_TClick.aspx

If you do these two things, you will succeed:

a) follow my first link to get yourself a good strategy, they are free, and the historical results you see are NOT backtests - those strategies have all had to build their history with that website one trade at a time in real time.

b) follow my second link to get yourself a non-dealing-desk broker. The broker link I gave also has some good strategies with it, which you can use if you wish. Either way, get a strategy.

c) trade a small percentage of your account. If your account is $500 or less, do not ever open more than a few micro lots at a time. If you want to open just one mini lot (a mini lot is 0.1 standard lots) then you will need TEN TIMES as much money to be in your account. You can blow your account in just 3 trades if you over trade, EVEN though you had a good strategy! I've seen it happen. Nothing worse than to have a good strategy, but you blow your account immediately from extreme over-trading, and then you have to sit there for the next few months and watch that strategy do really well... without you.

I've tried so many trading programs out there and spent lots of money to try these program and none of them are really consistent with what they promise. Ex: 4xmadeeasy, traders international, etc.

Answer
If there was an easy way to make easy way to do it everybody would be doing and when everybody starts using it, it won't work anymore. Those programs need nice price movements but they can't handle events such as when Bernake testifed before Congress this week and the dollar gapped down. Those events burn people using the programs you mentioned.

You may not like the answer but the only way to make it in Forex is to read, study and practice. I spend, on average, 20-30 hours per week, reading information on the web pages for the Reserve Banks in Australia, New Zealand, Japan, UK, Euro-zone, Canada and the US, trying to understand how the economies of each are behaving and where they are going. I read every piece of Forex news and commentary I can find and I spend 3-6 hours on the weekend going over charts and trying to figure out my strategy for the coming week.

Lot of work? You bet, but it can pay off. On Tuesday, I invested $3000 in selling USDJPY (which bought $300,000 worth of Yen). On Thursday I bought back and made a profit of $3750. That's a 125% return.

So the answer to your question is that there is no easy, long term method using things like 4xMadeEasy or Freedom Rocks, but you can make lots of money if you are dedicated to working at it.

Update:
Since another answer mentioned "double my money by next Tuesday", an obvious reference to my answer, let me state that I am an indivdual participating in Forex with nothing to promote such as a system or a strategy or a 15 day trial. My USDJPY trade this week was used as an example of what *can* happen if you do the work before making a trade. I do not double my money on every trade and I sometimes lose money, but I have a lot more good trades than bad trades because I put the effort into the research before trading and I have discipline after making the trade. No gimmics, no bought and paid for system. One last suggestion... if any system you find trades on the carry, i.e. trying to make money on interest differential, run like hell.

what school should i attend if i want to learn how to invest?

i want to learn how to invest in stockmarket and what those charts mean, how to analyze the data.. and learn which news have impact on the stocks i bought..
what school should i attend???
businessschool? should i become economist????

thanks

Answer
I´ve been investing for more than 20 years and trading for almost 14, and I can tell you that if you want to make BIG and FAST profits, I recommend you trading rather than investing, trading can help you to go from rags to rich.
If you are investing, you must have already achieved some degree of financial success, long term stock investing and FOREX can help you to diversify your money and become much richer than you are today.

My experiences as a Nasdaq Market Maker, Head trader of several brokerage firms, and currently as a professional trader and private hedge fund manager, I can suggest you that:
We trade because we want quick, short term profits on a consistent basis. We want to cash flow the market. Milk it like a cow.

Make consistent, small, short term gains rather than trying to hit a home run on every trade. Don't ever forget that.

Don't marry a stock, marry the idea of making money trading stocks. That's the only way to do it.

For me "All stocks are equally worthlessâ

I don't hold on to any illusion that the stock market will continue to go up and provide a nice retirement for me.

I could care less which way the market goes. It's irrelevant to me if the market goes higher, crashes or moves sideways for the next 50 years. I really could care less. Stocks are just four letters with two prices next to them that I use to make a living trading.

Trade ONLY when you have a clear, easy and identifiable advantage, because without a CLEAR EDGE your odds of success are NO better than a flip of a coin⦠That´s why so many new traders (and investors) lose money.

Take a look at any daily chart of any index or stock and you'll probably see the most volatility and the biggest opportunity for profit during the first Hour of the stock market's opening.

The popular thinking and conventional wisdom is that you should wait about an hour before you start trading.

But if you do, you'll miss the big, fast moves that stocks make as all the amateurs let their emotions out through their online accounts, usually right after they read some news headline or hear Maria Bartiromo go off about a stock on CNBC.

It's easy to see why trading the open is the market's prime time for profiting from other online traders.

The market's open is very volatile - that is the perfect environment for LARGE, FAST profits.

Learn to trade as a professional Market Maker, not as an emotionally driven amateur trader or investor with few thousand dollars in an account at Etrade.

There isn't any other time during the day or any stock you can invest in, that can make you 1, 2, 3, 5, 7 or more points in minutes OTHER than during the first hour the stock market is open, that means: if you are buying or selling short a 1000 shares per transaction, you´ll make $1000,$2000,$3000,$5000 or $7000 Usd "IN MINUTES !!!" not in a day, not in a week, not in a month or in a year, in less than 60 minutes... That's why I love trading the open so much.

I trade only when I have an edge and that means "only the first hour the market is open".

If you are a beginning trader, you can give yourself an unfair advantage in the market trading this way.

I can carry on for hours on how to make money trading online, but if you ask me:

"What is your best advise?

I will say:

Give yourself a BIG favor and go to this "Top Secret" site and learn how to get by yourself the BEST stocks that will make the largest and fastest day trading profits you´ve ever seen.

www.onehourtrading.com

After you review this site you won´t need any system, strategy, book, software, guru or mentor to tell you what to do, you will be able to profit HUGE every day.

Besides, you´ll learn:

⢠The right amount of money to start tradingâ¦
⢠The best Online broker out thereâ¦
⢠Learn how to enter and exit a trade in seconds making Huge profitsâ¦
⢠Make more money than most day traders simply by trading one hour a day!!!
⢠How to reduce stress, limit risk and stay disciplined like a Pro.
⢠The 4 basic rules you should know, that every successful trader know, and amateurs don´t even imagine.
⢠How to trade against the amateurs and avoid like the plague doing it against the professionals , and why this will put you ONE STEP AHEAD of all traders.
⢠What causes more devastating trading loses than any other factor... and... How to avoid this pitfall! (Even savvy traders often fall victim to this! )
⢠Not to spend most of your day in front of a computer dealing with complex charts, software or technical analysis.
⢠Learn how to read the market´s open to make a huge profit just a few minutes after the opening bell.

All this and a lot moreâ¦

Good luck and good trading,

John Fontaine

I mean what do I need to learn? I've searched up on websites like forex for noobs or baby forex (a site for forex newbie like myself..) but I failed to understand what the heck they're talking about so basically I figured out that I'm missing something what do I need to learn before learning forex trading?

Answer
First you need to learn before learning forex trading, about:

Market participants in Forex: Banks, Commercial companies, Central banks, Hedge funds as speculators, Investment management firms, Retail foreign exchange brokers, Non-bank Foreign Exchange Companies, Money Transfer / Remittance Companies.

Forex trading characteristics

Determinants of Forex Rates

Economic factors:
Economic policy comprises government fiscal policy and monetary policy.
Economic conditions include:
* Government budget deficits or surpluses
* Balance of trade levels and trends
* Inflation levels and trends
* Economic growth and health
* Productivity of an economy

Political conditions: Internal, regional, and international political conditions and events can have a profound effect on currency markets.

Market psychology: Flights to quality, Long-term trends, "Buy the rumor, sell the fact", Economic numbers.

Financial instruments: Spot, Forward, Future, Swap, Option, Exchange-Traded Fund.

....and more.....

How do i swap eBooks and Softwares with other people?

I have very cool eBooks on Forex and some other pretty cool software, so how do i get to swap them with other people on the net who have cool eBooks and Softwares too?

Answer
Try looking for ebook swap forums, online ebook trading, ebook exchange, etc. This is just one such site:

http://www.onecer.net/ebook/

wwbgd

I want to invest into something that grows with only a little assistance, I work full time and need to make more money. There are SO many fake investments or ways to make money I need a legate way. Another job is out of the question (single mom) all year. I am smart (not with grammar ) and pretty strong>?????

Answer
you can try the stock market 37,000 choices
only trades 9:30am to 4:30 eastern time and $25 billion a day

or you can trade the FOREX the foreign exchange markets
trades 5pm Sunday afternoon to 5pm Friday afternoon $3 trillion a day

just a few pairs to watch as price incentice points (PIPS)
In the Forex market - you don't have a broker, you only have the bank acting as your trader. I 'play' a trading game using play money on
http://www.oanda.com and they 'charge' anywhere from 2.5-4 pips as their commision. And you can readily see this in the quote box.
Take the Great Britain Pound and US Dollar pair. 1 pound = 1.8749 at the beginning of the 1 am hour. by the time the hour finished, it had climbed to 1.8762. The incremental difference of 13 pips, or price incentive points, means that had you "bought" this pair and then sold it, you would have made a minimum of 9 pips (-4 for the dealer) and that happend in a 5 minute window - so depending on the size of your "lot" you could have made some money!

Right now in the 3 am hour - it's at 1.8761 (dropped a little from it's 2 am close) and it has already fallen 10 in the first 5 minutes - ooops 15)
and I missed the trade

no worries - was my day to watch - my goal is 4 pips a day = 20 for the week - and I already have 29! So I am done!

I think another good learning site for the details is baby pips . com
some good lessons

and you can start with a $1,000 - $2,000 investment - BUT - play the
'game' first and lose the monopoly money. I left a trade over last weekend - and had to go to work - dropped my account $3k of my $100k play) OUCH - the lesson hurt - but only my pride!

all the best

Where to get the best forex signals?

How to find the best forex signal providers? how to avoid getting scammed? what to look for and what to expect?

Answer
Well, You are in luck. Here is one of my articles that is addressing this very issue hope it helps:
---

Top 5 Forex Death Traps

It's a well known fact that success for new Forex traders is disturbingly low. Most new Forex traders think it's easy to trade and make money quickly, but they get hit by the cold hard fact that making money trading Forex requires a very extensive range of skills and experience that can only be earned through years and years of learning and trading.

Lack of Experience

Forex is like any other business in the world, it requires experience and hard work. There aren't any special reports or super smart software that can just suck pips and make you money in a few days. No matter how marketers all over the internet try to convince you that you can just use their secret method or robot for overnight success. They are so good at writing down a 50-page sales letter full of complete lies and outrageous claims just to try to convince you how easy it is to make money using their magical software only to get to your pocket and take your cash with a smile on their faces. Only few days or weeks later you realize that you've been scammed again.

But I can't blame you, its human nature. People will always look for faster ways to make bigger piles of cash so blindly that they fall victims for such illusions.

Unrealistic Expectations

If anything sounds too easy and too good, well you guessed it⦠I am sure you are familiar with the term "if it sounds too good to be true it probably is". Most people are so greedy they are not just looking to make money, but they want lots of it and in no time! If you think like that I guarantee you that you will be an easy target for scammers. You should set realistic goals that can be achieved safely without risking your time and money. Like any other business you don't get unlimited cash in your first week unless you are selling drugs!

On the other hand, the beauty of trading Forex is that you can make very good gains every month by taking advantage of leverage. No gigantic 100% returns every month, but a more realistic approach would be 10%-20% return monthly. With that said you should never risk more than 5% of your account in one trade.

Falling For Over-hyped Products

The internet is full of Forex systems, Robots, EAs promising shocking results, only to disappoint hopeful traders. Those trading systems, cheap e-books and "Holy Grail" secrets are for the most part an illusion created by internet marketers with absolutely no experience when it comes to Forex. They are only good at creating a myth and over-hyped products with false claims to get their hands on your hard earned money.

In other words, if it's an EA or a trading Robot just don't bother getting it even for free! It will be a waste of your time. Trust me on that one.

Lack of Discipline

Ever felt like you are more of a gambler than a trader? Even after long years of trading sometimes your emotions takes over and you start trading without any plan just to make up for a loss only to find yourself at the end of the day with a margin call and a blown account. Controlling your emotions is the hardest part when it comes to trading. It sure feels bad when you lose few trades and just go to sleep with a negative trading day. Not to mention how you feel tempted all the time to enter a trade that looks very promising regardless how much you are going to risk and without taking in consideration if that trade you are about to place complies with your trading style and rules.

It takes a lot of skill to control your emotions and to accept the fact that sometimes doing nothing is the best thing to do.

Getting Bad Education and False Information

Learning how to trade the right way and figuring out the correct approach to trade could be tricky, be careful what websites you choose to visit and bear in mind that most of the information out there is deceiving. Always think twice before taking action. There are a lot of honest Forex traders out there with honest and realistic trading strategies and information but they are definitely hard to find. Please take your time Inspecting every word you read, talk to the traders and website owners before getting their services. See if they will ever get back to you and find out if they are just making everything look so easy and pretty or if they are real enough to admit the ugly truth about Forex trading. Keep that in mind before getting too excited about any system, product or service.

Mohamed Rabea - Professional Forex Trader
http://www.HyperSignal.net

Do you have any ideas how to invest this sort of money to create an income of £1500 ($3k) a month? Buying a property and letting it out, then taking a mortgage under it and buying another house? Forex? Stocks that pay good dividend? Some simple business?

Answer
With a conservative Forex hedge position an investment of $310,000 could generate $217.04 per day in interest earnings (7 days a week). This would be an annual interest of 25.55% for a total of $79,219.67.

This is based on the current swap rates on the EUR, GBP and CHF. Changes in a central bank's interest rates could cause this to go up or down.

In such a hedged position the daily interest would be earned regardless of the price of the underlying currencies.

I'd be happy to explain hedge trading further if it is of interest to you. It is also important to understand the risks associated with participating in the Forex, and actually, in any, financial market.

Drop me an email and I will send you a study that you may find interesting. pupp52@yahoo.com

Regards,

Paul

How do you trade and what do you trade?

Q. OK, please say at least your prefered method...:

For example:

1. Do you use some technical analysis models, such as moving average...etc?
2. Fundamental analysis such as reading the news 24/7?
3. Software like neural networks?
4. Mathematical models such as Heston, CAPM etc...

Also, what do you trade and why? For example: forex, stocks, cfd, indexes?

Thanks alot!

Answer
I NORMALLY USE EITHER A CRYSTAL BALL OR THE DICE an my track record is pretty good ha lol just joking i use technical analysis such has ratios balance sheets, cash flow statements an i look around and see if this companys are building new stores factories in this time of recession such has lowes, home depo, banck of america you get the point technical analisys works great when your looking at the past but it won't show you the future

I receive an email with part of the following: "This is to notify you that we have verified your data sent across to us and have come to the satisfaction that you are the eligible beneficiary to the declared prize money of £800,000.00 from the Yahoo Sweepstake Lottery Board.We have to this effect, approved the attached winning certificate and the insurance cover certificate on the won sum of money in your names.You shall henceforth be obliged to commence communications with the transferring bank Barclays Bank of London via email on:barclays_forex_uk@yahoo.co.uk, for onward remittance of the sum £800,000.00 into the bank account information you shall give.

I, on behalf of the Yahoo Lottery Management Board,congratulate you once again and urge you to continue to patronize us as we continue to meet with your ever increasing demands in internet communications.We remain,

Mr Peter Adams.
(Co-ordinator, Yahoo Lottery Board)

Answer
It's a scam. Forward it to abuse@yahoo.com

What is the cheapest forex broker out there?

I would like to know about forex brokers that offer low balance accounts. Do you have any recommendations? What about forex research? What are all the important events or meetings that affect the forex market?

Answer
trading is like a university education, it requires on the order of 10 to 20 years to become proficient and you have to be ready to accept it as a full time career. With that said, the broker that I use is oanda. I use this broker mainly because it allows smaller lot sizes which allows me to be very flexible with my exposure.

My recommendation- do not trade with less than 50k account. Do not trade live until you have risk capital (money that you will not need or regret losing) or minimum few years on paper accounts.

Forex research is a huge topic. Do not fall for technical analysis, it works in some situations, but the best bet would be to read the prices correctly via price patterns and timing. Do not trade during non farm payrolls or during tokyo and NY lunch hour. Trade during the overlap of US UK sessions for best liquidity. Watch for inflation levels, what central bankers say (and if what they are saying is just a warning or if they are serious about it).

For example you would want to monitor the japanese central bank decisions right now because their currency is strong enough to make their bank sell it to lower the price to keep exports competitive.

For CAD, watch for gold prices (oil is their major export). ect.

FINALLY: the only way to make money in forex safely is with law of large numbers in terms of capitalization. You have to have an account upwards of 50 mil, so this is not a get rich quick thing. The real money lies in market making and dealing.

All the sites I find are merely a site which sends me to a product without telling me any of the pro's or cons of the product.

Answer
If you search you'll find many reviews. However, some reviews are probably not very helpful. You still have to use your own judgement but generally go for the more popular ones. Look for ones with good support.

What is your favorite forex robot?

Q. There are many types of forex robot in forex market. recently i bought forex robot and I want to know how popular this forex robot, so what is your recommend forex Robot?

Answer
Check out http://www.pipcop.com/ ~ PipCop reviews MetaTrader Forex robots (EA's) in real-time and posts detailed statements every 15 minutes.
Pipcop ONLY forward test on real accounts for the most accurate robot reviews!

I see a lot of affiliate links for the still hyped FAP Turbo. I used FT and all was going well the first two months and then two bad trades killed my account. Be careful with any EA. Another thing that will make or break an account is the broker you choose. Do you homework first before you jump in with both feet or you will lose you hard earned cash. Good luck!

Hi everyone,

I was thinking of creating a blog for forex. But i do not know what to add into it, except for some daily rss feeds from websites and my own trading ideas. Maybe a bit of free ebooks to share. What else do you think i should add into my blog? Thanks.

Answer
I think it really depends on your aim for having this blog...

Some traders keep a blog to remind themselves of the reasons why they enter into trades... they would then obviously keep a journal of their trade entry criteria, and the resultant win or loss.

Others keep a blog to post up useful articles on Forex trading, and earn money from advertisements that are placed on the blog.

In deciding the content you want to add to your blog, think about who your target readers are, and the rest should come naturally:

Are you targetting new traders? Or existing traders?

Or are you targetting readers who are interested in money-making as a whole?

These questions are just some of the many you may like to ask yourself. :)

How best to use MACD for technical analysis?

I have been using moving average convergence/divergence and moving average crossovers as trading signals for forex trading but the success rate has been quite low. Most of the times the trades end up meeting the stop-loss. Could someone please let me know the reasons and suggest some better strategies?

Answer
I will try to be short in my answer:

1) MACD or moving averages crossover gives you a buy signal and you buy but the trend in that time frame (will elaborate later) was either downtrend or sideways movement. What are the chances of the buy signal to be true? I would say very less if the take profit target is too ambitious or too far. Action required: Check the status of the trend. You can use indicators like ADX (Average Directional Index) for the same.

2) Trend was in your favor i.e. an uptrend (but not a very strong uptrend) when you placed a long trade based on the crossover signal but what was the volatility of the price movement? In any trend the price retraces back. let's say you are trading on an hourly chart but the average volatility per hour is 50 pips and you placed your stop-loss at 20 pips. The uptrend is no very strong and price retraces back 25 pips before moving upwards again and your position meets the stop-loss. Well, this example needs more elaboration but the summary is that our stop-losses need to have a relationship with the volatility of the movement. If volatility is high then a stop-loss at a narrow gap make make your trade go into losses.

3) You are trading on short-term time frame chart based on the trend of longer time frame chart. The trend situation and the validity of the signals differ from one time frame to another time frame. A daily chart may be showing an uptrend but there may be a downtrend on a 30 minutes' chart. You should consult longer term charts to know the general trend but if you are using shorter time frame charts for your trades then your entry, exit, stop-losses and take profit targets need to be based on that shorter time frame chart.

Summary: You need to be sure about the trend, volatility of the price movement and be very careful of the time frame of the charts you are trading with. Always keep an eye on the larger picture for general trend and the short-term picture for the actual trades 9for short-term trades).

You may find some good information including some of the trading strategies about MACD at http://www.forexabode.com/technical-analysis/macd

Let me quickly touch upon Moving averages also. Apart from all the points above, you need to work with the time frames of moving averages for better crossover signals. I would suggest you to try 2 combinations.

1) 5-period and 22-period moving average crossovers.
2) 10 period and 22-period moving average crossovers

The above two are for double crossovers but if you wish to further cut down the false signals then you may wish to try triple crossovers e.g. 5, 22 and 55 period. But be very careful with the triple crossover as the trend needs to be really very strong with triple crossover signals otherwise by the time the triple crossover takes place, the trend may be reversing the direction and your signal may end up proving false.

You may find some good info about moving averages at http://www.forexabode.com/technical-analysis/moving-averages.

I believe the Dow will hit 12500 today. Considering that not only have all support levels for the Dow has been broken, but there should also be mass volatility coming into the market. I also study the correlation between Forex and the Dow. Central banks have strong control over the rate of exchange between countries. For the pass few days, the JPY has greatly appreciated against the USD and the EUR and GBP has strongly devalued against the USD. During these pass few days is also when the DOW faced heavy correction. As of now, the U.S. markets hasn't even opened, but EUR has devalued a hundred pips and JPY has appreciated over a 100 pip in a matter of seconds. I've never seen a move so powerful before. I think this is a strong indication that the Central banks is EXPECTING another severe drop, and this strong movement explains how the Central bank's expectations are being factored into the price.
Almost there

Answer
I think that 12500 is a bit drastic, but yes I do believe that the market will take another dip today. I also believe that everything is cyclical. The US markets were not as good as the foreign markets earlier this year and the moddest drops have not been as severe as in the foreign markets. Another thing that might play a factor is that we have had a weak Dollar for a number of years. And if you are aware of the different support levels then you are also aware that when a big dip happens, it is typical to recover about 50% in a equal time span. But first you must know where the bottom is. By the end of September I expect to see the markets near where they started the quarter. Therefore I am placing additional money into my mutual funds today and more next week after I have paid my bills.

Marcus

With the price of oil rising what effect does it have on the Canadian dollar?

Iam learning to trade Forex and was considering a postion in USD/CAD.

Answer
I think you're considering a good position in that I'm bearish on the USD. The problem I have with Canada is it's high correlation to the US.

I don't know enough about Canada to say that it is a great position, but it is one that I've considered over the last 6 months. Particularly after they hit a 1 for 1 exchange rate. May not be a bad move.

I didn't really look at the other post, but it sounded pretty on point. I don't know if the writer considered the huge amounts of oil that is in Canada. If I were you, I'd look into Canada's oil reserves and their levels of oil exports over the last few years. Yes, high oil prices means Canadians will have to spend more which will adversely affect the money supply. But that is true worldwide, except guess where? Where they've got massive amounts of oil. If Canada starts to capitalize on their oil production, which they probably are given these prices, then Canadians will benefit from inexpensive prices, while they earn huge returns from their oil exports. In that sense, the correlation between the US and Canada may be less of a factor.

What needs to be weighed is the benefit of high priced Canadian oil on the Canadian economy versus weaker currency due to high US correlation. Good luck.

After about 14 months of applied research, I have developed a forex trading policy which has been showing astounding success. It is not a software but just a set of rules. I have used in it - the principles of experimental probability, behaviour inheritence & aggregate loss recovery.

This policy will require a minimum 150,000 (or ideally 300,000) units of a currency (like US$) in a trading account.

For past 3 months I have been struggling to get a trustworthy buyer, but nobody believes in what I have done.

I want to sell it to someone and am ready to unveil it in front of senior government officials, so that there is no doubt of one cheating the other.

If anybody is interested, please contact me on:
nsr.corporate@gmail.com

I am based in Dubai - UAE

Answer
This eBook will explain exactly how to do that and many more things about forex http://www.casovbooks.com/Forex.html

How Forex Demo Software works? FX Trading software.?

Hi All,
I want to know that How exactly Forex Trading works. A search about all the times but confused and want to solve my confusion before start of this business. I has following queries if you can solve it then it will be your great kind help for me.
1- How exactly forex trading works? I have installed software with demo account.
2- From software When I can buy and when I can sell? From where I can get information that this is for sale and How much I am getting/
3- How can I sell? How can I buy?
4- How I will get money or How and were I can deposit money?

I am from UAE want to work from office. I am an employee so Is it good for me.


I am waiting for your replies and valuable information.

Thanks in Advance

Answer
1- How exactly forex trading works? I have installed software with demo account.

Forex is the foreign stock exchange. If you've downloaded the official software from forex.com, live support personnel can help you, but it isn't something you learn overnight. You should try to find some good books at your library or on amazon that explain forex, and how to get started.

2- From software When I can buy and when I can sell? From where I can get information that this is for sale and How much I am getting/

You can use the official forex software. Instead of selecting "Practice", when you login, you would select "Live", and you would be trading on the real market.

3- How can I sell? How can I buy?

Again, you should get a book introducing you to forex. Buying and selling is as simple as clicking Buy or Sell, but if you don't know what you're buying, it's pointless.

4- How I will get money or How and were I can deposit money?

I believe forex uses your bank account to withdrawl and deposit however much money you chose.

i want to know which site allows to download the Fx trading software, foreign Currency Exchange Software, Stock Trading Software, Online currency trading software, free Forex Strategy Builder software, forex trading software.
I need to know few more good,popular & best Forex software,trading software and from where i can Download the software instantly and begin using it.

Answer
Downloading free system are just for demo account. You cannot actually trade there. I feel this is not a correct step of starting trading. software doesn't help in earning good returns.Have a good understanding of the function of the market in general and those that keep the market operational. Understand, not only the market you are trading in, put be aware of all the products and services that you can upon if needed. Understand the basics of trading such as never trade against the trend, limit any & all loses by using stop orders and lock in any and all gains with sliding stops. First, you should know that Forex is not that easy. Do not believe those who may say it is!

Now, there are some good robots that MAY help you. Some are scam. Others are for real.

Simply put, a Forex robot is a program that attempts to take the guess work out of trading currencies. Currently there is a lot of information floating around the internet about these products. Like any other tool, it needs to be used properly in order to be most effective.

Like I hinted, in order to use this tool the right way you need to understand a little bit about how it works and where it is best applied.

A Forex robot is a computer or computer program that monitors currencies and does calculations to figure out the best time to buy and sell. These programs help to take some of the guess work out of buying and selling and can help a trader to identify currencies that meet certain criteria, or when certain currencies perform in certain a way. Most of the selling points of Forex robots state that you can simply set them and watch the cash come pouring in. While in some cases this may work, in most cases you are going to need to carefully monitor the program and make sure that it is adjusting to trends in the market. While they can be very profitable they may require a certain amount of intervention to be run effectively. Used properly, and if you have the patience to get to know the programs, they become a powerful tool.

For this automatic approach, forex auto pilot turbo has worked wonders for me: http://fapturboxreview.blogspot.com/ . It offers, among other features, high spread protection system and automated risk scaling. They say "95% winner". Well, only the bottom line counts. In this regard, it has really delivered for me.

I had been watching the forex robot market for months, waiting for the right software to come out. I believe I have found a great one.

Really, get the fundamentals first. Then get your own system and test it offline (do that for weeks, if not months, until your system is well tested), whether you use a robot or not. It really takes a few months - a lot of patience and resilience. But if you are made for it, it is worth it. Read about the psychology of trading (never to underestimate). And then you should be fine.

Which forex trading software provide real time trading volume?

Does any forex trading software or broker's trading platform provide real time volume?

Answer
If you are looking for the best forex software, visit this site

http://the-best-forex-software-in-internet.blogspot.com/

Here you'll find the best software that can help increase your trading profit and user friendly.

I am going to be 18 in 26 days and I want to become a millionaire quickly by trading either stocks or forex. I want to know in your opinion which of them would make the best vehicle to trade to make the easiest, quickest path to wealth? Also, when I say easy, I don't mean that it would be easy to do, but easy in terms of currencies and stocks to choose from and the least complicated to research out of the two. Good, reasonable answers would be much appreciated. Thanks!

Answer
Both Stocks, options, or trading forex are not generally easy to learn right off the bat. It depends on

A. How much money you have to work with if you are trading stocks or options you should have at least $3,000 to $5,000 to start with. You want to use all you money to begin trading, in case you lose you want to have enough to keep going. With forex you can start out with less because you can leverage your account trading with a mini or micro account -- You can start out with $1000 some brokers let you start with $500.

B. You need to get educated about stocks and reading charts either way. Personally I spent thousands to learn how to read charts, manage money, how to set your stop loses, control my emotions while trading(VERY important), etc etc. Remember only about 3% or traders out there actually make money on a consistent basis. Thatâs because they under stand technical analysis, and fundamental analysis.

The pro's are just taking money from the people that don't get a good education.

The good part is once you learn this you know this and do it for a long time.

One way you can start learning is by paper trading to learn different strategies before you start the real thing. The down side is real trading is still a lot different from paper trading. I still do this if I am trying a new strategy.

One shortcut using Forex is to subscribe to a call service or forex signals. They will look at the markets and find a high probability trade and they will tell you where to enter a trade and where to take profit, and where to set your stop loss.

One service I found offers a 2-week free trial, to the service- you can paper trade it to see how it works. I think itâs the only one that has a free trial. He also shows how he made the trade so you can learn how to do this on your own.

Good luck!

What is the secret to successful forex trading?

A complete newbie to forex trading, I am having difficulties figuring out where to look for information, but also what exactly to look for. Commodities? Bank quarterly results?

Answer
Well you could take courses on US and World economics, read some financial economies books and/or know when and the fundamental news that affects price swings are reported. Stay clear during these volatile times because they can take out your stop in a heartbeat and a few beats later go back the other way. And remember that the news could already be mostly priced into the current price.

http://www.forex.com/learn.html
Link will answer many questions and answers you should know. I have 3 accounts (never put all your money/eggs in one account/basket). You can start with $500 when you can afford to open account. Since you are just starting you will lose money if you don't learn the basics, first. #1 best tip, don't trade your real money until you try trading demo account. When you can trade a demo for about 2-3months daily and make money then if you feel ready slowly start trading real money. So making and/or losing money depends on how well you can trade. For some it very profitable, for many it is not. So trading with the right tools and knowledge can become a very good income(s) for short and long term goals. And trade with the current trend.

I use Lightning Strikes Trading System for trading in any time frame and it works on forex, stocks, bonds, etf's, mutual funds, etc... They have 3 free training sessions a week and you don't have to buy the software to join in the live chat and text. They focus their training/trading on the Forex markets major currencies. You can even watch some recorded past live sessions. Here are some past charts that I used.
http://f1.grp.yahoofs.com/v1/MB16R0zjjaZ...
http://f1.grp.yahoofs.com/v1/MB16RxjOUQt...
There are 7 indicators (2 short, 2 medium, and 3 long term) and if volume is reported another one is added (on balance volume). Plus whatever time-frame is used the 2 green horizontal lines are the support and resistance for that time frame. So when indicators are all touching the bottom price is at or very, very near support. At top is at or very, very near resistance. Which helps my entry/exits and risk/reward ratio.
http://f1.grp.yahoofs.com/v1/MB16R9Wv-wt...
http://f1.grp.yahoofs.com/v1/MB16R9wSKdV...
http://f1.grp.yahoofs.com/v1/QCt6R2fYIj6...
http://f1.grp.yahoofs.com/v1/QCt6R3R0VQe...
If you can not view charts above or want to see other charts, I can email them. Or you can view more charts in this yahoo group. http://finance.groups.yahoo.com/group/lightninglive/

Start learning the basics of fundamentals and technical analysis so you will be more informed in your investments. You can find all the basic info you need to learn on websites for free.
This site should give you a good start.
http://finance.yahoo.com/education

Try what you learn on demo sites. They can be a very fun but educational way to learn from mistakes. If you pick 75% right with play money then you might be ready to start slowly investing.
http://simulator.investopedia.com/
http://simulator.zacks.com/
http://www.fxcm.com/open-free-100k.jsp
http://www.alpari-idc.com/en/metatrader4...
Or just google for more.

Here are my favorite sites.

http://finance.groups.yahoo.com/group/lightninglive/
Join group to see and discuss LS charts.

http://stockcharts.com/
Has basically all you need from fundamental to technical terms. Plus stock screens, charts, public chart lists, and much more useful info.

https://www.fidelity.com/
Has good learning resources.

http://moneycentral.msn.com/home.asp
In addition to yahoo finance.

http://www.reuters.com/
For news and more.

http://www.marketwatch.com/default.aspx
For news and more.

http://www.valueprime.com/index.php
For rating stock risk/reward ratio and reports.

http://www.barchart.com/
For investing in more than stocks.

http://www.investopedia.com/
For more great learning tools.

http://www.lightninglive.com/
For best software timing your entry/exits any time frame for day traders and long term investors.

Others worth exploring.
http://www.equis.com/
http://www.stockta.com/
http://www.secform4.com/

Best Wishes,
Burt Whitley

Forex market is complicated but still challenging to get cash from there. It's about how to trade in this market for long term.

Answer
If youâre a potential investment player whoâd like to make it big in the business and financial world, then you go for forex trading. The FOREX, also known as the foreign exchange market is one of the largest financial markets in the world with and estimate of $1.5 trillion turn-overs every day. Here are a few strategies on how to make it big in the forex market.

Strategy One: Know your market. The best way to get advantage, earn profit and minimize losses is to familiarize yourself with the market and how the whole system works. In the forex market, the players are usually commercial banks, central banks and firms involved in foreign trade, investment funds, broker companies and other private individuals with large capital. With the speed and high liquidity of asset, most companies engage in this business than in any other trading venture. Transactions are done in a jiffy; there are no membership fees and there is always the allure and promise of big, big profit.

Trading is done in pairs. The most commonly traded currencies are usually the US Dollar, Japanese Yen, Euro, British Pound, Canadian Dollar, Australian Dollar and the Swiss Franc. The more commonly traded currency pairs are the US Dollar and the Japanese Yen, the Euro and the US Dollar, the Swiss Franc and the US Dollar. In Forex trading, everything is speculative and virtual. There is no actual product being sold or bought. The activity mostly consists of computed entries made on the value of one currency against another. Say for example, you can buy Euros with US Dollar, hoping that the Euro will increase it value. Once its value rises, you can sell the Euro again, thus earning you profit.

Strategy Two: Learn the language. There are three concepts you need to know in the currency market. Pips refer to the increase of one hundredth of a percent of the value of the currency pair you are trading. Usually each pip has a value of $10 or $1. Volume is the quantity or amount of money being traded at one particular time in the market. Buying is the acquisition of a particular currency. A trader buys with the hopes that the price of the currency will increase. Selling is putting a currency up for grabs in the market because of a potential or possibility of a decrease in its value. There are also two techniques of analysis usually used in this business â the fundamental and the technical analysis. Technical analysis is usually used by small and medium players. Here, the primary point of analysis revolves on the price. Fundamental analysis, on the other hand, is used by bigger companies and players with higher capital as it involves looking at the other factors affecting the value of a particular currency. In this type of analysis, the player also looks at the situation of the country, particularly issues like political stability, inflation rate, unemployment rate, and tax policies as these are seen to have an effect on the currencyâs value.

Strategy Three: Develop a sound trading strategy. Your trading strategy would depend on what kind of trader you are. The basic thing with developing a trading strategy is to identify what kind of forex trader you are. A good trading strategy should lessen, if not, eliminate losses. Plan also the size of your transactions. It is better to conduct many different trades than one huge transaction. Not only does it develop discipline, but it also lessens any possible loss as only a fraction of the capital is affected. Part of a trading strategy is developing the values of discipline and proper money management.

Strategy Four: Practice. Try paper trading, a great way to practice your skills, see how the market works and get acquainted with the software and tools being used. There are online brokers who allow free paper trades, which allows practice and experience before doing it with real money.

Strategy Five: Choose the right forex dealer. Make sure that they are regulated by the law. Take not of dealers with investment schemes that give out too-good-to-be-true-just-false-hopes promises. Look at investment offers before getting started.

Forex trading may seem easy and manageable. But the emotional stress, the demands and challenges of being a forex trader requires more than just the knowledge of the market. It requires more than just a keen and sensible head for business. Itâs all about a gameplan, a strategy.

What is the secret to successful forex trading?

A complete newbie to forex trading, I am having difficulties figuring out where to look for information, but also what exactly to look for. Commodities? Bank quarterly results?

Answer
Well you could take courses on US and World economics, read some financial economies books and/or know when and the fundamental news that affects price swings are reported. Stay clear during these volatile times because they can take out your stop in a heartbeat and a few beats later go back the other way. And remember that the news could already be mostly priced into the current price.

http://www.forex.com/learn.html
Link will answer many questions and answers you should know. I have 3 accounts (never put all your money/eggs in one account/basket). You can start with $500 when you can afford to open account. Since you are just starting you will lose money if you don't learn the basics, first. #1 best tip, don't trade your real money until you try trading demo account. When you can trade a demo for about 2-3months daily and make money then if you feel ready slowly start trading real money. So making and/or losing money depends on how well you can trade. For some it very profitable, for many it is not. So trading with the right tools and knowledge can become a very good income(s) for short and long term goals. And trade with the current trend.

I use Lightning Strikes Trading System for trading in any time frame and it works on forex, stocks, bonds, etf's, mutual funds, etc... They have 3 free training sessions a week and you don't have to buy the software to join in the live chat and text. They focus their training/trading on the Forex markets major currencies. You can even watch some recorded past live sessions. Here are some past charts that I used.
http://f1.grp.yahoofs.com/v1/MB16R0zjjaZ...
http://f1.grp.yahoofs.com/v1/MB16RxjOUQt...
There are 7 indicators (2 short, 2 medium, and 3 long term) and if volume is reported another one is added (on balance volume). Plus whatever time-frame is used the 2 green horizontal lines are the support and resistance for that time frame. So when indicators are all touching the bottom price is at or very, very near support. At top is at or very, very near resistance. Which helps my entry/exits and risk/reward ratio.
http://f1.grp.yahoofs.com/v1/MB16R9Wv-wt...
http://f1.grp.yahoofs.com/v1/MB16R9wSKdV...
http://f1.grp.yahoofs.com/v1/QCt6R2fYIj6...
http://f1.grp.yahoofs.com/v1/QCt6R3R0VQe...
If you can not view charts above or want to see other charts, I can email them. Or you can view more charts in this yahoo group. http://finance.groups.yahoo.com/group/lightninglive/

Start learning the basics of fundamentals and technical analysis so you will be more informed in your investments. You can find all the basic info you need to learn on websites for free.
This site should give you a good start.
http://finance.yahoo.com/education

Try what you learn on demo sites. They can be a very fun but educational way to learn from mistakes. If you pick 75% right with play money then you might be ready to start slowly investing.
http://simulator.investopedia.com/
http://simulator.zacks.com/
http://www.fxcm.com/open-free-100k.jsp
http://www.alpari-idc.com/en/metatrader4...
Or just google for more.

Here are my favorite sites.

http://finance.groups.yahoo.com/group/lightninglive/
Join group to see and discuss LS charts.

http://stockcharts.com/
Has basically all you need from fundamental to technical terms. Plus stock screens, charts, public chart lists, and much more useful info.

https://www.fidelity.com/
Has good learning resources.

http://moneycentral.msn.com/home.asp
In addition to yahoo finance.

http://www.reuters.com/
For news and more.

http://www.marketwatch.com/default.aspx
For news and more.

http://www.valueprime.com/index.php
For rating stock risk/reward ratio and reports.

http://www.barchart.com/
For investing in more than stocks.

http://www.investopedia.com/
For more great learning tools.

http://www.lightninglive.com/
For best software timing your entry/exits any time frame for day traders and long term investors.

Others worth exploring.
http://www.equis.com/
http://www.stockta.com/
http://www.secform4.com/

Best Wishes,
Burt Whitley

Hello,
I would like to open a bank account in Vietnam, and take advantage of their great rates. I live in the USA. Is there a way for me to do this online? If so where? I have run into many dead ends and dead links searching this out on my own. Any detailed information would be great.
Answer #4 I believe your right. I have found that all of the websites require foreigners to have a visa for vietnam passport. I believe someone looking to invest there must have already been there? Kinds stinks so far...Any information I find out I will post, and please do the same.
Rudy

Answer
Bank of America and CitiBank have offices in Hanoi and HCMC. Both being American banks and having online banking services could make it convenient to transfer U.S. money into Vietnam.

The largest bank in Vietnam is Vietcombank ( http://vietcombank.com.vn/en/ ). There are branches everywhere in Vietnam. Vietcombank is one of the best for foreign trade, foreign investment and forex accounts. Here's an excerpt from their Web site:

"As the oldest commercial bank for external affairs in VietNam, the Bank has always been known as the most prestigious bank in trade finance, international payments, foreign exchange, guarantee and other banking and financial services..."

Vietcombank has online banking, but I'm not sure if I trust it because their Web site is always crashing. I think there is a way to open an account online, but I would call their main office directly instead of trusting a buggy Web site. Contact information is as follows:

Vietcombank Head Office
198 Tran Quang Khai, Hanoi
Telex: 411504/411229 VCB â VT
Tel: 84-4-825 1322 â 824 0976
Fax: 84-4-826 9067
Swift: BFTV VNVX
TGMS: VIETCOMBAN

Someone else mentioned ACB, which is a good bank too.

You should contact your bank concerning details of transacting with Vietcombank or other banks in Vietnam. Some American banks make it pretty easy to transact in Vietnam or other countries. I hate Bank of America, but they are a very good choice for foreign banking. You will find a B of A in just about every country that does business with the U.S..

Addition - As per the requirements, here's information from Vietcombank's Web site:

Personal Accounts:

The opening of foreign currency account is conducted following the Stateâs current regulations on foreign currency management, such as:
- Decree 63/1998/ND-CP dated August 17, 1998
- The Governmentâs Decision 173/1998/QD-TTg dated September 12, 1998.
- Circular 08/1998/TT-NHNN7 dated September 30, 1998.
- Circular 01/1998/TT-NHNN7 dated April 16, 1999.

* For Vietnamese individual:
- 3 Applications for Account (provided upon request)
- Identity Card, Military ID, Police ID.
- Minimum balance is required.

* For foreign individual:
- 3 Applications for Account (provided upon request)
- Passport and Vietnamese visa with duration of over 6 months.
- In case you want to use checks, a Letter of Recommendation by the Management Body is required.
- Minimum balance is required.

Business Accounts:

- Every socio-economic organisation may open account(s) at Vietcombank. We offer veriable account types in different currencies and durations.
- Information relating to opening and deposits of accounts at Vietcombank are kept in strict confidential. Deposit insurance is bought by Vietcombank at the deposit insurance company.
- Simple and free-of-charge opening procedures. Account management fee is not charged if the balance in your account is not less than the minimum level. Account statements are provided on daily basic. Monthly account statements are provided upon request.
- Having account at Vietcombank, you can easily use non-cash payment instruments such as checks, payment orders, encashment orders...
- If you want to withdraw money from your fixed deposit account prior to the maturity date, you are still offered an interest which depends on the duration of time the money have been deposited.
- In-house account transfer payment service is proceeded through computer network free-of-charge with fast and highly accurate level.
- Phone payment service is provided when you want to withdraw cash from your VND demand deposit account in condition that the withdrawing amount reaches the level announced by the Bank.
- Special services are provided to longstanding reliable customers, who maintain big balances: Automatic capital management, automatic money transfer, E-Bank....

Introduction
1. Account holder:
a. No limitation for opening and using VND account
b. For opening and using foreign currency account, following conditions are applied:
I. Resident organisation: Account holder must have foreign currency sources from current-account transactions, capital transaction and other foreign currency sources stipulated by Law.
II. Non-resident organisation: Account holder is currently operating in Vietnam or overseas, who has foreign currency transferred into Vietnam via banks or cross-border entrance having certification of border custom, and other legal sources in Vietnam.

2. Account type
a. demand deposit account
b. fixed deposit account
c. cash-cover account
d. specialised account...

Account opening:
- You are provided with charge-free printed forms. You will have your account promply with your own CIF number (customer information file). Having this CIF number you may require Vietcombank to immediately provide necessary information or you can open new account (i.e. specialised account).

Documents required:

- 3 Applications for Account (provided upon request)
- Notarized photocopies of documents proving the legal status:
(1) 01 Decision of Establishment of the enterprise, unit, organisation, association...
In case of Projects: the decision on setting up Project Management Committee must be enclosed)

(2) 01 Business License.
In case of Projects: The Decree signed by the two Governments or the approval of the authorised level are needed.
For non-business organisations: documents describing functions, duties and scope of activities are needed.

(3) 01 Decision of Appointment of Account Holder signed by authorised level.
For public unions such as Ho Chi Minh Communist Youth Union, Women Coalition Association... the decision may be replaced by the proposal of the congress minute of that organisation.

(4) 01 Decision of Appointment of Chief Accountant or Director of Accounting Department or Accountant of the organisation.
For foreign company operating outside Vietnam: If the companyâs management is not account holder, apart from (1), (2) and (3), the following documents are needed:
- an authorisation letter for another person to be a holder of the account at Vietcombank. The number of persons authorised to sign in Authorised Signature Application Form must not excess 2 persons.