Forex introducing broker is the way to make money online without having to risk your own money?
Posted by Ryanita
on
Saturday, January 18, 2014
, under
forex affiliate programs
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comments (0)
forex affiliate programs
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Huber
I want to know if the Forex introducing broker is the way to make money online without having to risk your own money.... please!!!
5 stars for somebody that help me Ã
Answer
The answer is yes. You can become a Forex Introducing Broker. Why would one want to become a Forex Introducing Broker? Becoming a Forex introducing broker is a relatively risk free way to earn a money by referring people to a Forex Broker. You can refer friends directly or you can post a link on you website that forwards visitors to one of the many online Forex brokers. There are a number of very user friendly Forex trading platforms out there that allow for Fx online trading. The most popular of which is the Metatrader 4 platform.
MetaTrader 4 allows traders to use automated systems (EA)to execute their Forex currency trades. You can either write your own EA or purchase one off one of the many websites that offer them. You have to be careful with anything that you buy off a website for online trading Forex. Some can be very expensive and others can be more reasonable. Some of these websites also offer Forex affiliate programs where if you sign up with a specific Forex broker you they will give you a payment for the sale of an EA.
Forex Trading Online can be a very lucrative business. if you would like to pursue a business like this your best bet is to contact a Forex Broker and inquire about their Forex Introducing Broker Program.
The answer is yes. You can become a Forex Introducing Broker. Why would one want to become a Forex Introducing Broker? Becoming a Forex introducing broker is a relatively risk free way to earn a money by referring people to a Forex Broker. You can refer friends directly or you can post a link on you website that forwards visitors to one of the many online Forex brokers. There are a number of very user friendly Forex trading platforms out there that allow for Fx online trading. The most popular of which is the Metatrader 4 platform.
MetaTrader 4 allows traders to use automated systems (EA)to execute their Forex currency trades. You can either write your own EA or purchase one off one of the many websites that offer them. You have to be careful with anything that you buy off a website for online trading Forex. Some can be very expensive and others can be more reasonable. Some of these websites also offer Forex affiliate programs where if you sign up with a specific Forex broker you they will give you a payment for the sale of an EA.
Forex Trading Online can be a very lucrative business. if you would like to pursue a business like this your best bet is to contact a Forex Broker and inquire about their Forex Introducing Broker Program.
best forex affiliate programs?
Fred B
I am looking for the best forex affiliate program with the highest comission. I have a blog and a number of people on my facebook that want them to sign up with my affiliate link.
Answer
Fxatrade.com also known as fx-agency, gives $137.25 comission for every software you sell. I make about $1500 a week with their affilliate program. I don't see anyone offering higher commission than them mind you $137.25 per sale is pretty darn good.
Fxatrade.com also known as fx-agency, gives $137.25 comission for every software you sell. I make about $1500 a week with their affilliate program. I don't see anyone offering higher commission than them mind you $137.25 per sale is pretty darn good.
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Currency traders, what is the best an least expensive way to buy and sell foreign currencies?
Posted by Ryanita
on , under
forex currency rates
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comments (0)
Rose
I would like to try currency trading. Should I contact, say for example, a bank in England to buy Pounds directly, or should I use an intermediary like Scott or Ameritrade?
Answer
There are many online forex trading companies you can try but at the same time there are many scam and phishing websites too. BEWARE!
You can install Calling ID in IE for verification. The site below has been verified by Calling ID as safe.
http://www.forex.com/pages/land-international.html
They even have risk free practice account where you can trade with virtual money before starting with real money. :)
http://www.forex.com/uk/forex_demo_account.html
However need to warn you, forex trading is a very risky investment and highly speculative. It's really meant for the professional experts. Unless you just want buy certain currency and keep it for mid or long term say 6 months to a few years and not trade daily.
In case you stumble upon this site, eToro, DON'T GO THERE!!!
http://www.etoro.com/
it's rated as HIGH RISK by Calling ID. Owner hides it's identity.
One more thing, don't use too much leverage maybe only 2-3 times will do. Some allow leverage of up to 40 x which means if the currency move against you 1% you will lose 40% of your money. The higher the leverage the higher the risk!!!
There are many online forex trading companies you can try but at the same time there are many scam and phishing websites too. BEWARE!
You can install Calling ID in IE for verification. The site below has been verified by Calling ID as safe.
http://www.forex.com/pages/land-international.html
They even have risk free practice account where you can trade with virtual money before starting with real money. :)
http://www.forex.com/uk/forex_demo_account.html
However need to warn you, forex trading is a very risky investment and highly speculative. It's really meant for the professional experts. Unless you just want buy certain currency and keep it for mid or long term say 6 months to a few years and not trade daily.
In case you stumble upon this site, eToro, DON'T GO THERE!!!
http://www.etoro.com/
it's rated as HIGH RISK by Calling ID. Owner hides it's identity.
One more thing, don't use too much leverage maybe only 2-3 times will do. Some allow leverage of up to 40 x which means if the currency move against you 1% you will lose 40% of your money. The higher the leverage the higher the risk!!!
What is the simplest forex trading strategy which applicable for beginner?
atha
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.
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.
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How much safer is stock trading compared to forex trading?
Posted by Ryanita
on , under
forex education
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comments (0)
Brian
im convinced that forex is pretty much gambling. its too risky. are stocks any better?
Answer
Shares or stocks are more stable then Forex, generally speaking the price of stocks rise over time. so systems can be tailored this way,
The big difference with forex is that currency doesnt acctually rise or fall in a stable way, so expecting overall growth isnt the way to invest in forex. But at the same time a person makes money in BOTH directions.
Without a great deal of understanding in forex i would tell you to stick to stocks, but dont forget that stocks can make you lose money just as easily without education.
Shares or stocks are more stable then Forex, generally speaking the price of stocks rise over time. so systems can be tailored this way,
The big difference with forex is that currency doesnt acctually rise or fall in a stable way, so expecting overall growth isnt the way to invest in forex. But at the same time a person makes money in BOTH directions.
Without a great deal of understanding in forex i would tell you to stick to stocks, but dont forget that stocks can make you lose money just as easily without education.
I would like to know the basics of Forex Trading and the least amount someone can start out with.?
ethenana
Please can anyone tell me how to start trading Forex, and if it's possible to stsrt with a little amount. Would also like to know about trading from my home (I live in Africa). Will be glad to receive any answer.
Answer
hi, here have some forex education websites, all free
http://www.babypips.com
http://www.strategybuilderfx.com
http://www.forexfactory.com
http://www.fxground.com
hi, here have some forex education websites, all free
http://www.babypips.com
http://www.strategybuilderfx.com
http://www.forexfactory.com
http://www.fxground.com
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How do I pay income tax on ForEx earnings?
Posted by Ryanita
on
Friday, January 17, 2014
, under
forex hours
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comments (0)
John S
I am doing normal daily trading of EUR/USD, trades lasting a few hours on average. I am not sure if this is considered futures or securities and I therefore don't know how to pay taxes on it.
Answer
NOTE: "Forex Taxes" are applies to U.S. traders only. Foreign investors that are not residents or citizens of the United States of America do not have to pay any taxes on foreign exchange profits!
Forex Trading Taxation - Definition and Overview:
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,...
More and more investors from all over the world are accessing the largest financial markets online through their personal computers. As demand surges for foreign exchange trading, more and more U.S. Traders have to deal with taxation issues at the end of the year.
Forex: Taxed as Futures or Cash?
Currency traders involved in the forex spot (cash) market, can choose to be taxed under the same tax rules as regular commodities [IRC (Internal Revenue Code) Section 1256 contracts] or under the special rules of IRC Section 988 (Treatment of Certain Foreign Currency Transactions). IRC 988 applies to cash forex unless the trader elects to opt out.
The Advantage of Section 1256 for Currency Traders Under Section 1256, forex traders can have a significant advantage over stock traders. By reporting capital gains on IRS Form 6781 (Gains and Losses from Section 1256 Contracts and Straddles), forex traders are allowed to split their capital gains on Schedule D using a 60% / 40% split. This means that 60% of the capital gains are taxed at the lower, long-term capital gains rate (currently 15%) and the remaining 40% at the ordinary or short-term capital gains rate, which depends on the tax bracket the trader falls under (as high as 35%). This results in an average rate of 23%, which is 12% less than the regular (short-term) rate.
If cash forex is subject to the Section 988 rules, how can a trader elect the more beneficial Section 1256 split? Please read on to find out more.
To Opt Out or Not to Opt Out of Section 988 !!
Companies that profit from the fluctuation in foreign exchange rates as part of their normal course of business, fall under Section 988. This means their gains and losses from foreign exchange (such as buying and selling of foreign goods) are treated as interest income or expense and get taxed accordingly. Consequently, they do not receive the beneficial 60/40 split.
Since forex traders are also exposed to daily exchange rate fluctuations, their trading activity falls under the provisions of Section 988 too - but don't worry. The IRS wants to be nice to you (so far). Because these daily fluctuations can be considered part of a currency trader's assets in the normal course of his business, the IRS gives the trader the option of rejecting (opting out) of Section 988 and electing that the gains be taxed under the favorable 60/40 split of Section 1256.
What do you have to do to opt out of Section 988? Even though you don't have to file anything with the IRS to opt out, you are required to do so "internally" before starting to trade; i.e., you must keep records in your own books about the fact that you are opting out of Section 988.
Many currency traders bend the rules by waiting after the year is over to see if they have any gains from their trading activities. If they do, they claim that they elected out of IRC 988 to enjoy the beneficial Section 1256 treatment. On the other hand, if the sum of the trades from cash forex is not positive, they stick with the traditional Section 988. Since (under the current tax law) it becomes very difficult to disprove whether the trader made the election at the beginning or at the end of the year, IRS has not yet begun to crack down on this activity.
What does a Forex Trader do When Tax Time Comes?
Forex traders should receive 1099 forms from their US-based broker at the end of the year like stock and futures traders do. No matter in what country your forex broker is based or what tax-related reports they provide, you could pull up reports online from your accounts and seek the help of a tax professional. No matter what you decide to do, don't fall into the temptation of lumping your trades with your section 1256 activity (if any). Forex transactions need to be separated into Section 988 reporting.
Given the fact that the forex market is one of the fastest-growing financial markets around, it might eventually come under closer IRS regulation. In the meantime, traders continue to enjoy tax advantages by trading foreign currencies.
...To find out More how You can Become a Profitable Trader on a Consistent Basis, Please Visit Here: http://www.urlpire.com/?MALFY - You Will Learn Valuable Ways and Tips to help You Make Money Trading the Forex Market !!
NOTE: "Forex Taxes" are applies to U.S. traders only. Foreign investors that are not residents or citizens of the United States of America do not have to pay any taxes on foreign exchange profits!
Forex Trading Taxation - Definition and Overview:
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,...
More and more investors from all over the world are accessing the largest financial markets online through their personal computers. As demand surges for foreign exchange trading, more and more U.S. Traders have to deal with taxation issues at the end of the year.
Forex: Taxed as Futures or Cash?
Currency traders involved in the forex spot (cash) market, can choose to be taxed under the same tax rules as regular commodities [IRC (Internal Revenue Code) Section 1256 contracts] or under the special rules of IRC Section 988 (Treatment of Certain Foreign Currency Transactions). IRC 988 applies to cash forex unless the trader elects to opt out.
The Advantage of Section 1256 for Currency Traders Under Section 1256, forex traders can have a significant advantage over stock traders. By reporting capital gains on IRS Form 6781 (Gains and Losses from Section 1256 Contracts and Straddles), forex traders are allowed to split their capital gains on Schedule D using a 60% / 40% split. This means that 60% of the capital gains are taxed at the lower, long-term capital gains rate (currently 15%) and the remaining 40% at the ordinary or short-term capital gains rate, which depends on the tax bracket the trader falls under (as high as 35%). This results in an average rate of 23%, which is 12% less than the regular (short-term) rate.
If cash forex is subject to the Section 988 rules, how can a trader elect the more beneficial Section 1256 split? Please read on to find out more.
To Opt Out or Not to Opt Out of Section 988 !!
Companies that profit from the fluctuation in foreign exchange rates as part of their normal course of business, fall under Section 988. This means their gains and losses from foreign exchange (such as buying and selling of foreign goods) are treated as interest income or expense and get taxed accordingly. Consequently, they do not receive the beneficial 60/40 split.
Since forex traders are also exposed to daily exchange rate fluctuations, their trading activity falls under the provisions of Section 988 too - but don't worry. The IRS wants to be nice to you (so far). Because these daily fluctuations can be considered part of a currency trader's assets in the normal course of his business, the IRS gives the trader the option of rejecting (opting out) of Section 988 and electing that the gains be taxed under the favorable 60/40 split of Section 1256.
What do you have to do to opt out of Section 988? Even though you don't have to file anything with the IRS to opt out, you are required to do so "internally" before starting to trade; i.e., you must keep records in your own books about the fact that you are opting out of Section 988.
Many currency traders bend the rules by waiting after the year is over to see if they have any gains from their trading activities. If they do, they claim that they elected out of IRC 988 to enjoy the beneficial Section 1256 treatment. On the other hand, if the sum of the trades from cash forex is not positive, they stick with the traditional Section 988. Since (under the current tax law) it becomes very difficult to disprove whether the trader made the election at the beginning or at the end of the year, IRS has not yet begun to crack down on this activity.
What does a Forex Trader do When Tax Time Comes?
Forex traders should receive 1099 forms from their US-based broker at the end of the year like stock and futures traders do. No matter in what country your forex broker is based or what tax-related reports they provide, you could pull up reports online from your accounts and seek the help of a tax professional. No matter what you decide to do, don't fall into the temptation of lumping your trades with your section 1256 activity (if any). Forex transactions need to be separated into Section 988 reporting.
Given the fact that the forex market is one of the fastest-growing financial markets around, it might eventually come under closer IRS regulation. In the meantime, traders continue to enjoy tax advantages by trading foreign currencies.
...To find out More how You can Become a Profitable Trader on a Consistent Basis, Please Visit Here: http://www.urlpire.com/?MALFY - You Will Learn Valuable Ways and Tips to help You Make Money Trading the Forex Market !!
Is it really possible to make money trading on the FOREX market?
Andrew
It seems too easy. You spend a few hours a week watching trends, buy, sell, and rake in huge money. It seems too good to be true. How many people are actually successful and how much time do they put in doing it?
Answer
Oh yes, it is of course possible to make nice profits from Forex if you know what you are doing.
$4 trillion a day worth of currency changes hand daily. So, there must be profits in this business.
I don't think few hours a week is enough. You need to read financial reports and track all the news coming about economy to do the trading.
For example, a couple of months ago, when the EURO was going down, almost every major currency (Except the USD, and the YEN which moves in the Opposite direction) was going down especially the Aussie and GBP.
But these days, this is not happending any more. The Euro is still at 1-year record low, while the Aussie and GBP are getting some push from their local economy.
There are a lot of reports that you need to read.
Better to start with books and follow some currency blogs.
Don't get cheated by some ADs that claim they can make huge money. If you do that, you will lose all of your money in a blink. Try to find some certified online Forex firms that charge you less money for the trades.
Oh yes, it is of course possible to make nice profits from Forex if you know what you are doing.
$4 trillion a day worth of currency changes hand daily. So, there must be profits in this business.
I don't think few hours a week is enough. You need to read financial reports and track all the news coming about economy to do the trading.
For example, a couple of months ago, when the EURO was going down, almost every major currency (Except the USD, and the YEN which moves in the Opposite direction) was going down especially the Aussie and GBP.
But these days, this is not happending any more. The Euro is still at 1-year record low, while the Aussie and GBP are getting some push from their local economy.
There are a lot of reports that you need to read.
Better to start with books and follow some currency blogs.
Don't get cheated by some ADs that claim they can make huge money. If you do that, you will lose all of your money in a blink. Try to find some certified online Forex firms that charge you less money for the trades.
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How do you trade and what do you trade?
Posted by Ryanita
on
Thursday, January 16, 2014
, under
forex factory
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comments (0)
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!
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 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
Where would you start if you wanted to trade securities or commodities from home?
peter
Just looking for some advice maybe a website or a book on how to start out trading from home. I am in college I can spend 40 to 60 hours a week learning or trading and I can afford to invest a little more than 100 dollars a week to start. Is it possible to make decent money doing this? By decent I mean maybe 1000-1500 a month eventually. I have had an investopedia account before but something more in depth that teaches you strategy
Answer
Before putting any money at risk, I'd suggest paper trading using a simulator from either Interactive Brokers or TD Ameritrade. Both have pretty decent platforms and TDA's even lets you reply parts of the day (but not tick by tick).
Deposit just enough real money to open the account and then paper trade until you're profitable (which could take quite a few months or even years, depending on how dedicated you are). Then scale in your equity over time, rather than going "all-in" at once; Live executions are always different than simulated ones and you'll need time to get the feel for it.
In terms of where to gain knowledge, try visiting the Elite Trader, Trading Blox, Traders Laboratory, Forex Factory and BabyPips forums.
If your interested in Algorithmic Trading, take a peek at my journal/blog below. I was a videogame programmer for about 20 years, then retired to become a full time algo trader. I discuss my systems and techniques there.
Good Luck!
Before putting any money at risk, I'd suggest paper trading using a simulator from either Interactive Brokers or TD Ameritrade. Both have pretty decent platforms and TDA's even lets you reply parts of the day (but not tick by tick).
Deposit just enough real money to open the account and then paper trade until you're profitable (which could take quite a few months or even years, depending on how dedicated you are). Then scale in your equity over time, rather than going "all-in" at once; Live executions are always different than simulated ones and you'll need time to get the feel for it.
In terms of where to gain knowledge, try visiting the Elite Trader, Trading Blox, Traders Laboratory, Forex Factory and BabyPips forums.
If your interested in Algorithmic Trading, take a peek at my journal/blog below. I was a videogame programmer for about 20 years, then retired to become a full time algo trader. I discuss my systems and techniques there.
Good Luck!
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which is the best forex robot for the year 2013 ?
Posted by Ryanita
on
Wednesday, January 15, 2014
, under
forex 2013
|
comments (0)
Mohammed
which is the best forex robot for the year 2013 ?
Will my broker support?If yes/no how could i check..
Please give me suggestions of those robots which you are using and is confident ...
I had lossed a lot of money in forex dont wanna loose more ...
thanks a lot in advance guys...May GOD bless you all
Answer
You should have learned from your experience.
Forex is a losing proposition for amateur traders.
You are playing against the big boys who probably are the ones that wrote the robot code, so they know exactly how you would behave in any situation.
They are trained professionals, equipped with co-located supercomputers, able to access news feeds just before most other folks, and with millions to allow them to pressure you until you egt killed via margin calls.
What chance do you have against these people? you may get a winning trade once in a while, but eventually the majority of amateur traders lose.
Learn from your experience. Stay away from Forex.
You should have learned from your experience.
Forex is a losing proposition for amateur traders.
You are playing against the big boys who probably are the ones that wrote the robot code, so they know exactly how you would behave in any situation.
They are trained professionals, equipped with co-located supercomputers, able to access news feeds just before most other folks, and with millions to allow them to pressure you until you egt killed via margin calls.
What chance do you have against these people? you may get a winning trade once in a while, but eventually the majority of amateur traders lose.
Learn from your experience. Stay away from Forex.
What if that Gold ETF market turned out to be like that Salad Oil Scandal?
Liberal Sm
The scandal involved the company Allied Crude Vegetable Oil in New Jersey, led by Tino De Angelis, which discovered that it could obtain loans based upon the inventory of its salad oil.[3]
Ships apparently full of salad oil would arrive at the docks, and inspectors would confirm that the ships were indeed full of oil, allowing the company to obtain millions in loans. In reality, the ships were mostly filled with water, with only a few feet of salad oil on top. Since the oil floated on top of the water, it appeared to inspectors that these ships were loaded with oil. The company even transferred oil between different tanks while entertaining the inspectors at lunch.[4]
Once the scandal was exposed, American Express was one of the biggest casualties. Its stock dropped more than 50% as a result of the scandal, which cost the company nearly $58 million. De Angelis was convicted of fraud and conspiracy charges in connection with the scandal and served seven years in prison, gaining his release in 1972
http://en.wikipedia.org/wiki/Salad_Oil_Scandal
Whereâs the Gold?
Meanwhile, the well-publicized, ongoing disgorgement from ETF plays, such as SPDR Gold Shares (GLD) is NOT going into warehouse inventories, certainly not at COMEX. In fact, the evidence is that this gold is going to refiners in Europe, and thence to China and other gold-buying locales. The GLD outflow is no longer available to Western investors â not at current prices.
Hereâs a trend that is NOT your friend.
The gold is going away, and I strongly suspect that it wonât come back in our lifetimes. National wealth â in the form of gold â that required generations to accumulate is leaving our economy. Itâs migrating east.
Should we be worried? Wellâ¦it will only take a small change in âgold psychologyâ for more and more Western investors to figure out whatâs happening. The smart ones will demand delivery of physical metal, and the sooner the better. Then we could see a price melt-up for gold unlike anything in modern history.
http://countingpips.com/forex-news/2013/11/the-comex-gold-shortage/
Answer
That is "paper gold", not physical metal.
Problem is, there is a lot more paper gold than actual gold.
There's a lot more to this but ETFs are not actual gold, it is computer entries.
That is "paper gold", not physical metal.
Problem is, there is a lot more paper gold than actual gold.
There's a lot more to this but ETFs are not actual gold, it is computer entries.
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How does FOREX positions trading work and what is the profitability?
Posted by Ryanita
on , under
forex lot
|
comments (0)
enricog24
what exactly is a position? a lot?
what is the advantage in investing now that the economy is in shambles and the dollar has depreciated?
I don't know a lick of this stuff so please be specific, thank you!
Answer
You take a "Forex position" when you enter the Forex market buying or selling a specific currency pair at a specified price. The size of the position is determined in "lots" or units. For instance, lets imagine that you have a Forex account that you funded with U.S. Dollars. The first trade you decide to take is to buy 100,000 units of EUR/USD. At the moment you buy those 100,000 Euros you simultaneously sell the difference in the exchange rate in Dollars (136,000 approximately). If the price of the EUR/USD at the moment you bought was 1.3600 you now hold 1.0 lot (commonly referred to as 1 standard lot or 100,000 units) of EUR/USD long. If the value of the EUR/USD climbed to 1.3700 and you exited (or converted your euros back to dollars) you would have made $1000.
I am sure, you now have many more questions. I believe it would be much easier if you took one of the free Forex courses online. The easiest is www.babypips.com/school but you can google to find others if you prefer.
As for the advantage of Forex now over other asset classes. Well, the biggest advantage is that there is no such thing as a bullish or bearish Forex market. You can make money Forex, no matter the market condition if you know what moves the currency market, take a disciplined approach to trading the market, and have a solid trade/cash management strategy.
As for the claims by many that Forex is a "scam," let me say this. Do people lose money in Forex? Sure. Are there companies out there willing and able to steal money from unsuspecting Forex newbies? Absolutely. But if you are careful, smart and educate yourself about Forex you will be fine.
The potential in the Forex market is unlimited - but the dangers are also great. Take your time. Don't rush into it. Find a few mentors and you can make it.
You take a "Forex position" when you enter the Forex market buying or selling a specific currency pair at a specified price. The size of the position is determined in "lots" or units. For instance, lets imagine that you have a Forex account that you funded with U.S. Dollars. The first trade you decide to take is to buy 100,000 units of EUR/USD. At the moment you buy those 100,000 Euros you simultaneously sell the difference in the exchange rate in Dollars (136,000 approximately). If the price of the EUR/USD at the moment you bought was 1.3600 you now hold 1.0 lot (commonly referred to as 1 standard lot or 100,000 units) of EUR/USD long. If the value of the EUR/USD climbed to 1.3700 and you exited (or converted your euros back to dollars) you would have made $1000.
I am sure, you now have many more questions. I believe it would be much easier if you took one of the free Forex courses online. The easiest is www.babypips.com/school but you can google to find others if you prefer.
As for the advantage of Forex now over other asset classes. Well, the biggest advantage is that there is no such thing as a bullish or bearish Forex market. You can make money Forex, no matter the market condition if you know what moves the currency market, take a disciplined approach to trading the market, and have a solid trade/cash management strategy.
As for the claims by many that Forex is a "scam," let me say this. Do people lose money in Forex? Sure. Are there companies out there willing and able to steal money from unsuspecting Forex newbies? Absolutely. But if you are careful, smart and educate yourself about Forex you will be fine.
The potential in the Forex market is unlimited - but the dangers are also great. Take your time. Don't rush into it. Find a few mentors and you can make it.
What is the cheapest forex broker out there?
Christian4
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.
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.
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Is fbs.com good for trading forex?
Posted by Ryanita
on , under
forex broker inc
|
comments (0)
Harpreet
I am thinking to invest in this site.....
Answer
Yes! I am also with anaya , sahib and all other users FBS Holdings Inc. is a one of the best trading company right now....
1) They are authorized by FSC.
2) It is ecn/stp broker
3) FBS operates on Metatrader 4 platform
4) They have 3 types of accounts (micro, standard, unlimited). Minimal deposit is $5 for micro account.
5) Spreads are fixed (micro account) and floating (standard and unlimited)
6) Scalping, hedging, EA are allowed
7) 24/5 customer service. (I like their support, they are always very nice and ready to answer all your questions)
7) They have $5 free cash bonus. You may try it and make your own decision about this broker.
8) Possessional support on all major forums and very helpful
9) Very attractive contests
Simply FBS is a best broker as compare to other
Yes! I am also with anaya , sahib and all other users FBS Holdings Inc. is a one of the best trading company right now....
1) They are authorized by FSC.
2) It is ecn/stp broker
3) FBS operates on Metatrader 4 platform
4) They have 3 types of accounts (micro, standard, unlimited). Minimal deposit is $5 for micro account.
5) Spreads are fixed (micro account) and floating (standard and unlimited)
6) Scalping, hedging, EA are allowed
7) 24/5 customer service. (I like their support, they are always very nice and ready to answer all your questions)
7) They have $5 free cash bonus. You may try it and make your own decision about this broker.
8) Possessional support on all major forums and very helpful
9) Very attractive contests
Simply FBS is a best broker as compare to other
Has any one heard of Independent partner Brokage (IPB)?
progress
I've been surfing the internet for weeks now, looking for investment oppurtunity for the little guy like me. I came accross IPB http://www.ipb-forex.com/index1.asp . the investment program sounds nice, and i've also trumble across someone who said he has investment in them for 2 years and his payment has been regular. They claim they invest in forex which is the trading currencies. My problem with them is, since they are a foreign company that operates out of their satelite branch in Chicago and Nevada, they don't report to IRS and neither do they provide 1099 for investors in the USA. How can i pay the fair taxes on whatever i make from this investment and also is it legal?
please review their website.
Respectfully, if all you have is harsh response please stir clear and don't waist your time.
Thanks
JI
Answer
My concern with companies like Independent Partner Brokerage Inc. is that you have to entrust them with your hard earned dollars.
That is great that they offer you a return of 3% to 6% every two weeks but I can tell you how to do that yourself. In fact I will do better than that, I will let you see for yourself with a free trial of a system that has been working quite well for me (and consistently returning a little more than IPB). Also, you never give up control of your money. You can trade with the broker of your choice and you have full access to your money at any time.
You owe it to yourself to at least check it out first. No cost, no risk and no obligation....just free education.
Send me an email and I will send you a free report to look over.
Paul
pupp52@yahoo.com
My concern with companies like Independent Partner Brokerage Inc. is that you have to entrust them with your hard earned dollars.
That is great that they offer you a return of 3% to 6% every two weeks but I can tell you how to do that yourself. In fact I will do better than that, I will let you see for yourself with a free trial of a system that has been working quite well for me (and consistently returning a little more than IPB). Also, you never give up control of your money. You can trade with the broker of your choice and you have full access to your money at any time.
You owe it to yourself to at least check it out first. No cost, no risk and no obligation....just free education.
Send me an email and I will send you a free report to look over.
Paul
pupp52@yahoo.com
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What to look for when trading commodities futures?
Posted by Ryanita
on , under
forex trading for dummies
|
comments (0)
forex trading for dummies
image
jazzprime2
As far as agriculture, oil, and precious metals go what do you do as far as analysis goes for trading these commodities (fundamental analysis mainly).
Answer
Precious metals, commodities, and FOREX are terrible choices for novice investors. If you insist, I'm betting 3 to 1 that you will lost almost your entire stake in less than 3 months.
Read "Investing for Dummies" or any self-help book written for novice investors. Good luck!
Precious metals, commodities, and FOREX are terrible choices for novice investors. If you insist, I'm betting 3 to 1 that you will lost almost your entire stake in less than 3 months.
Read "Investing for Dummies" or any self-help book written for novice investors. Good luck!
I need assistance in learning the fundamentals of day trading. Where should I begin?
Vive Venus
Where do I start?... What seminars should I attend? What accounts should I create for myself? What websites have most day traders found to be esp. useful? I am a newbie requesting legitimate advice pertaining to trading commodities or simply trading in general.
Thank You!
Answer
I watch this every day after market closing;
http://www.alphatrends.net/
Learning to trade (day or swing trading) can take on average 3-5 years. Reading a new trading book every month (for your entire career) is done by many of us.
Pick up a basic intro to technical analysis like;
Technical Analysis for Dummies
Move on to trading books like;
Mastering The trade, John Carter
Trading in The Zone, Mark Douglas
Technical Analysis Using Multiple Time Frames, Brian Shannon
See the book list (Essential Reading);
http://tradermike.net/
My favorite broker. Great charting. Great tools. Great Webinars;
http://www.thinkorswim.com/
https://www.thinkorswim.com/tos/displayPage.tos?webpage=onlineSeminar
Forex, Futurers, Options and Commodities are not the best place to start to learn trading. Stocks are the better place to start your quest.
I watch this every day after market closing;
http://www.alphatrends.net/
Learning to trade (day or swing trading) can take on average 3-5 years. Reading a new trading book every month (for your entire career) is done by many of us.
Pick up a basic intro to technical analysis like;
Technical Analysis for Dummies
Move on to trading books like;
Mastering The trade, John Carter
Trading in The Zone, Mark Douglas
Technical Analysis Using Multiple Time Frames, Brian Shannon
See the book list (Essential Reading);
http://tradermike.net/
My favorite broker. Great charting. Great tools. Great Webinars;
http://www.thinkorswim.com/
https://www.thinkorswim.com/tos/displayPage.tos?webpage=onlineSeminar
Forex, Futurers, Options and Commodities are not the best place to start to learn trading. Stocks are the better place to start your quest.
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I want to open an ccount with one of the online forex brokers ,Which one in the UK is the best to go with?
Posted by Ryanita
on , under
forex broker reviews
|
comments (0)
praveendas
I tried a lot of reviews , and all reviews point to one another as crap.Which one should i believe ?I am confused ,Could anyone give me some information or with experience would be grateful to you.
Answer
The reason you're finding a lot of crappy reviews is that forex trading is full of scams. Everyone wants to sell you signals and collect your commissions. Your question already has at least one blatant scam answer.
In real life, Foreign Exchange is a very large market populated by serious experienced professionals. With no experience, you would be a lamb among wolves. You would lose.
Whoever has convinced you that novice forex trading is a good idea has done you a grave disservice. Please reconsider.
The reason you're finding a lot of crappy reviews is that forex trading is full of scams. Everyone wants to sell you signals and collect your commissions. Your question already has at least one blatant scam answer.
In real life, Foreign Exchange is a very large market populated by serious experienced professionals. With no experience, you would be a lamb among wolves. You would lose.
Whoever has convinced you that novice forex trading is a good idea has done you a grave disservice. Please reconsider.
What are the types of marketing that forex brokers use?
Kitty
I just started working in a online forex trading company.
I was given an assignment to review what types or strategies that any other online forex companies use for their marketing.
All i got right now is:
1. ASP - Affiliate Service Provider
2. Email Marketing
3. SEO - Social media Optimization
4. Forex Ranking sites
5. Social Media Management
Any other ideas?
Thank you in advance.
Answer
Depends on your budget. Depends what you are doing to.
Some FX companies do branding and use sponsorships to advertise their brands.
Egsample:
Alpari: has sponsored west ham football team, and the Alpari World match racing: wmrt.com
IBFX - Sponsors the Automated Trading Championship (ATC)
ironfx.co.uk - Medical Research, Community Support, Child Welfare, Education
Keytomarkets.com - Forum sponsorship
Here is a list of what type of ads and sponsorships that have been done so far to my knowledge:
(I hope you find this list useful)
Advertorials
Affiliates
Billboard adverts
Blog/microblog
Celebrity endorsements
Content marketing
Digital banners and signage
Display remarketing
Email
Events
Facebook advertising
Film/TV product placement
Forums
Images & Infographics
Influencer outreach
Inserts
Kiosks
LinkedIn advertising
Local search marketing
Loyalty card
Magazine adverts
Marketing email
Microsites
Mobile advertising
Mobile app
Paid placements
Paid reviews
Pay per click
PR Stunts
Presentations
Press releases
Prizes/Exhibitions
Product listing adverts
Product packaging
Program sponsorship
Promotional items
QR codes
Radio advertising
Report sponsorship
Research paper
Search engine optimisation
SMS
Sports sponsorship
Street vendor
Transactional email
TV advert
Twitter advertising
Videos
Wearables
Website via tablet/mobile
Youtube channel
Depends on your budget. Depends what you are doing to.
Some FX companies do branding and use sponsorships to advertise their brands.
Egsample:
Alpari: has sponsored west ham football team, and the Alpari World match racing: wmrt.com
IBFX - Sponsors the Automated Trading Championship (ATC)
ironfx.co.uk - Medical Research, Community Support, Child Welfare, Education
Keytomarkets.com - Forum sponsorship
Here is a list of what type of ads and sponsorships that have been done so far to my knowledge:
(I hope you find this list useful)
Advertorials
Affiliates
Billboard adverts
Blog/microblog
Celebrity endorsements
Content marketing
Digital banners and signage
Display remarketing
Events
Facebook advertising
Film/TV product placement
Forums
Images & Infographics
Influencer outreach
Inserts
Kiosks
LinkedIn advertising
Local search marketing
Loyalty card
Magazine adverts
Marketing email
Microsites
Mobile advertising
Mobile app
Paid placements
Paid reviews
Pay per click
PR Stunts
Presentations
Press releases
Prizes/Exhibitions
Product listing adverts
Product packaging
Program sponsorship
Promotional items
QR codes
Radio advertising
Report sponsorship
Research paper
Search engine optimisation
SMS
Sports sponsorship
Street vendor
Transactional email
TV advert
Twitter advertising
Videos
Wearables
Website via tablet/mobile
Youtube channel
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Where can I get in contact with someone in my area (Detroit) who trades currency for a living?
Posted by Ryanita
on
Tuesday, January 14, 2014
, under
forex practice account
|
comments (0)
zzgorch
I have read a few books on FOREX trading and have been trading with practice accounts successfully. Before I try to do this full time I want to meet with someone who has already taken the plunge to get advice on trading for a living.
Answer
Hey ZZ,
Your best bet might be to go to meetup.com and look under investing strategies to see if there are any Forex related groups already organized in your area.
You can also find quite a few Forex folks by searching on Yahoo 360.
I don't live in Detroit but I would be happy to answer any questions that you may have.
Paul
pupp52@yahoo.com
Hey ZZ,
Your best bet might be to go to meetup.com and look under investing strategies to see if there are any Forex related groups already organized in your area.
You can also find quite a few Forex folks by searching on Yahoo 360.
I don't live in Detroit but I would be happy to answer any questions that you may have.
Paul
pupp52@yahoo.com
How does forex trading really work; what are the driving factors behind the FX markets? - I'm a newbie?
William M
I am a relatively new person to forex trading who's had practice in demo accounts, and I'm wondering how forex trading really works, i.e what are the dring forces behind the forex markets, what moves them, etc? Please help/advise as I'm quite new to them. Thanks.
Answer
My best advise to you -- don't do it. This is strictly for professionals and they don't even get it right sometimes. You're more likely to lose than gain.
My best advise to you -- don't do it. This is strictly for professionals and they don't even get it right sometimes. You're more likely to lose than gain.
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What website(s) is able to show when the big institutions and banks increase their volume of trade?
Posted by Ryanita
on , under
forex market hours
|
comments (0)
Andrew T
I am dealing here with the forex market. Also I would like to have an idea as to when the 'big boys' are making their moves using the 4 hour charts.
Answer
i have a nice blog about forex - http://forex-news-help.blogspot.com/
try searching it, maybe you will find what you are looking for + much more
i have a nice blog about forex - http://forex-news-help.blogspot.com/
try searching it, maybe you will find what you are looking for + much more
What is the cheapest forex broker out there?
Christian4
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.
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.
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What is a good VPS for Forex Trading?
Posted by Ryanita
on , under
forex vps hosting
|
comments (0)
Darius
Answer
The best VPS hosting company for forex trading is 3-Essentials. I've been using them to host all of my EA's (expert advisors) for over 2 years now, and I've never experienced any downtime.
The best VPS hosting company for forex trading is 3-Essentials. I've been using them to host all of my EA's (expert advisors) for over 2 years now, and I've never experienced any downtime.
What is a good forex vps?
Darius
Answer
3Essentials. I have never had a down-time issue with this forex vps hosting company.
3Essentials. I have never had a down-time issue with this forex vps hosting company.
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How many currency pairs should be traded at one time.?
Posted by Ryanita
on , under
forex wiki
|
comments (0)
Stuart
I am a newbie in forex trading and i would like how many currency pair should i trade with.
Answer
How many? Are you asking about money managegment, like how many contracts, or how many different pairs to trade at once, like diversification?
If the latter, 2 or 3 things is all you can watch at once, but I don't see the point unless you're swing trading.
If the earlier, stop trading or don't start until you go back to square one and learn everything you can about money management and risk control, or it will eat you alive.
The biggest and most common mistake made by beginners is leverage. Taking advantage of the full 100:1 margin leverage is just insane, and you will lose. Look up the well-know study called Gamblers Ruin. It's not a matter of "if" but rather "when" it will all be over, done, ruined.
http://www.babypips.com/school/money_management.html
http://en.wikipedia.org/wiki/Money_management
http://www.trading-secrets-revealed.com/trading-money-management-insights.php
How many? Are you asking about money managegment, like how many contracts, or how many different pairs to trade at once, like diversification?
If the latter, 2 or 3 things is all you can watch at once, but I don't see the point unless you're swing trading.
If the earlier, stop trading or don't start until you go back to square one and learn everything you can about money management and risk control, or it will eat you alive.
The biggest and most common mistake made by beginners is leverage. Taking advantage of the full 100:1 margin leverage is just insane, and you will lose. Look up the well-know study called Gamblers Ruin. It's not a matter of "if" but rather "when" it will all be over, done, ruined.
http://www.babypips.com/school/money_management.html
http://en.wikipedia.org/wiki/Money_management
http://www.trading-secrets-revealed.com/trading-money-management-insights.php
How to pick a stock trading website thats best for me?
javi0106
take it easy, im just 17 years old and im just in business. Im reading books about stocks and investing but right now i wanna know which site best fits a beginner, and what should i be aware of.
Answer
First, you need to decide whats best for you, are you a technical or fundamental trader? learn the terms and concepts. Read through the best trading forums for valuable information www.trade2win.com and www.elitetrader.com, write down all the terms you find and type em in in wikipedia, wiki is has been alot of help for me. then there are sites for analysis like www.finance.yahoo.com www.advfn.com www.barchart.com www.finviz.com, www.freestockcharts.com - this is best for free realtime charts.
Of course my own blog www.trading2riches.com, my 5 year experience using different methods are written there.
Whats important that you have to find what style really suits you.. long term or short term trading, reading charts or doing fundamental research etc. most beginners usually go for technical analysis because it looks a lot simpler, for that i recommend to learn chart pattern and get "Encyclopedia Of Chart Patterns 2nd edition" That will help you a lot, but after 5 years of constant reading of chart patterns I noticed its not that easy at it seems. At the moment Im discovering some of the hedge fund trading methods and using those, which are highly profitable :p for example pair trading, It took me a lot of pain and sleepless nights to reach this information.
What to avoid is daytrading when you are a beginner, thats a fast way to throw away your money, better yet dont deposit anything in the first few years, until you have paper traded your method for a while and its profitable, otherwise your losses will be guaranteed.
Another thing what to avoid is any kind of stock picks, tips, alerts or anything that is recommending you to buy or sell certain financial instruments, these are mostly scammers. avoid penny stock recommendations, unless youre the scanmmer yourself ;) (read about bump and run). Avoid automated trading robots that earn you guaranteed millions, 99% of them are total BS. Of course there are software that can help you a lot for example pairtradefinder and forex autoclick software.
Internet has endless sources of information, just type in your question and read as many articles you can find.
First, you need to decide whats best for you, are you a technical or fundamental trader? learn the terms and concepts. Read through the best trading forums for valuable information www.trade2win.com and www.elitetrader.com, write down all the terms you find and type em in in wikipedia, wiki is has been alot of help for me. then there are sites for analysis like www.finance.yahoo.com www.advfn.com www.barchart.com www.finviz.com, www.freestockcharts.com - this is best for free realtime charts.
Of course my own blog www.trading2riches.com, my 5 year experience using different methods are written there.
Whats important that you have to find what style really suits you.. long term or short term trading, reading charts or doing fundamental research etc. most beginners usually go for technical analysis because it looks a lot simpler, for that i recommend to learn chart pattern and get "Encyclopedia Of Chart Patterns 2nd edition" That will help you a lot, but after 5 years of constant reading of chart patterns I noticed its not that easy at it seems. At the moment Im discovering some of the hedge fund trading methods and using those, which are highly profitable :p for example pair trading, It took me a lot of pain and sleepless nights to reach this information.
What to avoid is daytrading when you are a beginner, thats a fast way to throw away your money, better yet dont deposit anything in the first few years, until you have paper traded your method for a while and its profitable, otherwise your losses will be guaranteed.
Another thing what to avoid is any kind of stock picks, tips, alerts or anything that is recommending you to buy or sell certain financial instruments, these are mostly scammers. avoid penny stock recommendations, unless youre the scanmmer yourself ;) (read about bump and run). Avoid automated trading robots that earn you guaranteed millions, 99% of them are total BS. Of course there are software that can help you a lot for example pairtradefinder and forex autoclick software.
Internet has endless sources of information, just type in your question and read as many articles you can find.
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What are the Best Forex Trading Platforms?
Posted by Ryanita
on
Monday, January 13, 2014
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forex quotes real time
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Q. There are so many, what are the best Forex Trading Platforms, particularly for a new trader?
Answer
I've posted this before, but I think this applies here.
Choosing a great trading platform is an important step in Forex Trading. A good one should offer the following:
Easy to Use
The software you use should be easy to understand and it shouldn't take a long time work-You should be able to trade right away. If it's too complicated to even start, how will you be able to use it to trade regularly!?
Real Time Quotes
Because Forex Trading is done 24 hours a day, and you need to have live quotes. Live quotes give you control of your money and you can check on it whenever.
Trading Rates
The software should have a freeze option when you decide to buy or sell.
Your Part
Do not be greedy! Before you start, figure out how much money you want to invest, and stick to it-Do Not Go Over!
Trading is not a 'get rich quick' deal. Just like starting any new job, trading takes time to learn and involves risk and loss, but can potentially be a great source of income-once it's mastered.
I would recommend:
http://userfriendlyforex.com
I've posted this before, but I think this applies here.
Choosing a great trading platform is an important step in Forex Trading. A good one should offer the following:
Easy to Use
The software you use should be easy to understand and it shouldn't take a long time work-You should be able to trade right away. If it's too complicated to even start, how will you be able to use it to trade regularly!?
Real Time Quotes
Because Forex Trading is done 24 hours a day, and you need to have live quotes. Live quotes give you control of your money and you can check on it whenever.
Trading Rates
The software should have a freeze option when you decide to buy or sell.
Your Part
Do not be greedy! Before you start, figure out how much money you want to invest, and stick to it-Do Not Go Over!
Trading is not a 'get rich quick' deal. Just like starting any new job, trading takes time to learn and involves risk and loss, but can potentially be a great source of income-once it's mastered.
I would recommend:
http://userfriendlyforex.com
What is the best Forex Trading strategy in a dealing simulation (over-the-counter)?
Mundane
Currently a university student in Australia, majoring in Economics and Finance. This semester, I am doing a finance course where I am expected to go to a dealing room and start trading - dealing simulation. So, there will be two groups where companies will be quoting from banks (companies and banks).
I'm out of ideas as to how I should trade and be the best in the dealing room, in terms of strategy. Any ideas? Five stars for best answer. Thanks!
Answer
Download NinjaTrader for free and use their built-in simulator and start trading now real-time, with professional indicators and charts. At the very least, you'll get a feel for actual trading and terms and definitions and what it all means. Your finance class should give you ideas on how to make money. Otherwise, email me, and I'll send you some ebooks on Forex trading. You'll have to send me your email address for me to send an attachment.
http://www.ampfutures.com/index.php
They won't require you to fund the account for several months, maybe six months. The data feeds for forex and futures are also free.
You can also download ThinkOrSwim for free also, but won't have access to the data for export/import into Excel or other program, where Ninjatrader you do. Ninjatrader is great for the small trader, and you can start with as little as $500.
http://www.babypips.com/school/market_hours.html
http://news.tradingcharts.com/forex/headlines/Forex.html
http://forex-trading.bluecollarnews.com...
http://www.forex-learning.com/forex-trading-technical-analysis/forex-trading-technical-analysis
useful e books:
http://www.rapidforex.com/
http://www.traderssecretcode.com...
http://www.1forextrading.com/
http://forexmarketsuccess.com/forex-ebook/
Forex simulator:
http://fxtrader.investopedia.com/Registration/Register4.aspx
Download NinjaTrader for free and use their built-in simulator and start trading now real-time, with professional indicators and charts. At the very least, you'll get a feel for actual trading and terms and definitions and what it all means. Your finance class should give you ideas on how to make money. Otherwise, email me, and I'll send you some ebooks on Forex trading. You'll have to send me your email address for me to send an attachment.
http://www.ampfutures.com/index.php
They won't require you to fund the account for several months, maybe six months. The data feeds for forex and futures are also free.
You can also download ThinkOrSwim for free also, but won't have access to the data for export/import into Excel or other program, where Ninjatrader you do. Ninjatrader is great for the small trader, and you can start with as little as $500.
http://www.babypips.com/school/market_hours.html
http://news.tradingcharts.com/forex/headlines/Forex.html
http://forex-trading.bluecollarnews.com...
http://www.forex-learning.com/forex-trading-technical-analysis/forex-trading-technical-analysis
useful e books:
http://www.rapidforex.com/
http://www.traderssecretcode.com...
http://www.1forextrading.com/
http://forexmarketsuccess.com/forex-ebook/
Forex simulator:
http://fxtrader.investopedia.com/Registration/Register4.aspx
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How the forex trading (iFOREX) is reliable and how much can some1 earn from it ?
Posted by Ryanita
on , under
forex blog
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Shailesh J
Hi All:
I have been contacted by an account manager of forex trading company iForex and I was suggested that if would join their team I can earn around $1000 per month.
Can someone please guide how these sites are reliable and what about the FOREX trading business and how this compnay (iFOREX) is also relaible if anybody knows it personaly or earning anything from it.
Answer
A few months ago, I was asking the same question about iforex.com
Dude they are liars and cheating people.
Read this blog to know more about them-
http://www.xomba.com/iforexcom_fraud
http://iforex-fraud.blogspot.com/
http://in.answers.yahoo.com/question/index?qid=20090818013152AA4nQBn
http://forums.babypips.com/forextown/28152-iforex-com-scam-what-your-experience.html#post128321
A few months ago, I was asking the same question about iforex.com
Dude they are liars and cheating people.
Read this blog to know more about them-
http://www.xomba.com/iforexcom_fraud
http://iforex-fraud.blogspot.com/
http://in.answers.yahoo.com/question/index?qid=20090818013152AA4nQBn
http://forums.babypips.com/forextown/28152-iforex-com-scam-what-your-experience.html#post128321
How the forex trading (iFOREX) is reliable and how much can some1 earn from it ?
Shailesh J
Hi All:
I have been contacted by an account manager of forex trading company iForex and I was suggested that if would join their team I can earn around $1000 per month.
Can someone please guide how these sites are reliable and what about the FOREX trading business and how this compnay (iFOREX) is also relaible if anybody knows it personaly or earning anything from it.
Answer
Playing Forex can appear alluring, but the majority of people who try it lose money. All you have to do is do a web search on the words "Forex" and "lose" to see this is the consensus.
Forex is what we call a "zero sum" game. You are making a bet with someone else about whether a currency will rise or fall. For every winner there has to be a loser. If you are smarter than the average player, you may make money. If you are dumber than the average player, you are likely to lose money. Most of the people making the "bets" in Forex are highly trained professionals at banks and other institutions. You are unlikely to beat them at this game.
Actually Forex is not quite a zero sum game. It's a slightly negative sum game as the Forex broker takes a small percentage each time in the spread. It's a small amount but over a hundred trades, it ends up being a considerable amount of money. So the average player is likely to lose money, and remember the average player is a highly trained professional and probably smarter than you.
There is a lot of luck in Forex, and if you play it, you will have some periods of time where you make money. This is usually because you are having a lucky streak, not because you have suddenly become an expert Forex player. However, most people are unwilling to admit their success is due to luck. They become convinced they have a system that works, and lose a lot of money trying to refine it.
Further complicating the problem is the large number of Forex scams on the internet. Most Forex websites are of questionable honesty. You will find many people on the Internet that claim they made a lot of money using Forex. They are usually liars trying to make money. They will say: "Go to Forexcrap . com/q2347." The "q2347" is a signal to the Forexcrap site that you are being referred to them by "q2347." If they sell something to you, "q2347" gets a kickback. These coded signals can be hidden by different methods in the link. Other people will refer you to their own private website or blog for the purpose of trying to get money off you. Also there are a good number of trolls out there that like to pretend they are successful forex traders just for the fun of it.
I would recommend not trying to do Forex at all, unless you are a trained professional. It's like playing poker with people better than you, with the house constantly taking a small percentage from the pot.
Playing Forex can appear alluring, but the majority of people who try it lose money. All you have to do is do a web search on the words "Forex" and "lose" to see this is the consensus.
Forex is what we call a "zero sum" game. You are making a bet with someone else about whether a currency will rise or fall. For every winner there has to be a loser. If you are smarter than the average player, you may make money. If you are dumber than the average player, you are likely to lose money. Most of the people making the "bets" in Forex are highly trained professionals at banks and other institutions. You are unlikely to beat them at this game.
Actually Forex is not quite a zero sum game. It's a slightly negative sum game as the Forex broker takes a small percentage each time in the spread. It's a small amount but over a hundred trades, it ends up being a considerable amount of money. So the average player is likely to lose money, and remember the average player is a highly trained professional and probably smarter than you.
There is a lot of luck in Forex, and if you play it, you will have some periods of time where you make money. This is usually because you are having a lucky streak, not because you have suddenly become an expert Forex player. However, most people are unwilling to admit their success is due to luck. They become convinced they have a system that works, and lose a lot of money trying to refine it.
Further complicating the problem is the large number of Forex scams on the internet. Most Forex websites are of questionable honesty. You will find many people on the Internet that claim they made a lot of money using Forex. They are usually liars trying to make money. They will say: "Go to Forexcrap . com/q2347." The "q2347" is a signal to the Forexcrap site that you are being referred to them by "q2347." If they sell something to you, "q2347" gets a kickback. These coded signals can be hidden by different methods in the link. Other people will refer you to their own private website or blog for the purpose of trying to get money off you. Also there are a good number of trolls out there that like to pretend they are successful forex traders just for the fun of it.
I would recommend not trying to do Forex at all, unless you are a trained professional. It's like playing poker with people better than you, with the house constantly taking a small percentage from the pot.
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Is it possible to earn a good living exclusively in the ForEx market?
Posted by Ryanita
on , under
forex options quotes
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comments (0)
mousiemous
Since there are so many trading methods and platforms, what is a good platform and trading system that I should investigate that would afford the best results with the least amount of risk? I understand there is substantial risk to this type of investment and one should not invest funds they can't afford to lose.
Answer
I would say the answer is that you should exercise yourself as much as possible. For example, if you have a job currently, then get some time daily to exercise yourself for at least 6 months. One year also should be enough, if you study at least 1 hour daily.
Benjamin Franklin is know to have said: "Knowledge yields the best interest."
On the other hand, Socrates: "I know that I don't know nothing" :). -
I am quoting those 2, because there is one pretty popular hypothesis in the microeconomics that the markets are unpredictable and one can't earn more than the market itself. However, many people doubt this hypothesis(the hypothesis is called: EMH - google it...).
My advice though, leave forex unless you are multimillionaire.
Concentrate on stocks or at least forex options.
Also, don't think that any strategy on the internet can help you. Think of your own formula and try to apply it on a demo for a few months. If it works - invest small amount of money, then more and more...
Believe it or not - the advice above costs millions of dollars ;) - more than any book that you can buy on "strategies".
Good luck and happy new year ;).
I would say the answer is that you should exercise yourself as much as possible. For example, if you have a job currently, then get some time daily to exercise yourself for at least 6 months. One year also should be enough, if you study at least 1 hour daily.
Benjamin Franklin is know to have said: "Knowledge yields the best interest."
On the other hand, Socrates: "I know that I don't know nothing" :). -
I am quoting those 2, because there is one pretty popular hypothesis in the microeconomics that the markets are unpredictable and one can't earn more than the market itself. However, many people doubt this hypothesis(the hypothesis is called: EMH - google it...).
My advice though, leave forex unless you are multimillionaire.
Concentrate on stocks or at least forex options.
Also, don't think that any strategy on the internet can help you. Think of your own formula and try to apply it on a demo for a few months. If it works - invest small amount of money, then more and more...
Believe it or not - the advice above costs millions of dollars ;) - more than any book that you can buy on "strategies".
Good luck and happy new year ;).
How we can benifit from forex?
Q. I am going to invest & need your valuable suggestions.
Answer
you can check your options in this site. enables forex trading anywhere in the world where internet connection is available; offers background information for the Forex market, Guided-Tour, seminars, one-on-one training, CHAT, telephone support, as well as other assistance tools, including technical support; enables users to start trading immediately and with no software required to download you may login to your account and trade anytime, from anywhere; allows you to fund your account with your credit card, so you can start trading immediately, regardless of banking work days or hours; And If you are a frequent trader dealing in larger volumes, they offer tailor-made account to suit your exact needs (spreads, leverage ratio, mobile-phone alerts, etc.); also uses the latest highly sophisticated and advanced technologies in order to offer you up-to-the-second quotes.
one unique feature of this site is whether you are a beginner or an experienced trader, for a minimum deposit of $100 which will also form part of your initial capital, they will provide an Account Service Manager (ASM) to be your personal consultant who will serve as your mentor and trading partner, will answer all your technical questions and with whom you can talk live over the phone, email, chat or any form of communication available. your ASM will even trade along with you so that you will get to familiar yourself about how the real trade is done and give you the tips and tricks you need to know and do to achieve a profitable forex dealing.
you can check your options in this site. enables forex trading anywhere in the world where internet connection is available; offers background information for the Forex market, Guided-Tour, seminars, one-on-one training, CHAT, telephone support, as well as other assistance tools, including technical support; enables users to start trading immediately and with no software required to download you may login to your account and trade anytime, from anywhere; allows you to fund your account with your credit card, so you can start trading immediately, regardless of banking work days or hours; And If you are a frequent trader dealing in larger volumes, they offer tailor-made account to suit your exact needs (spreads, leverage ratio, mobile-phone alerts, etc.); also uses the latest highly sophisticated and advanced technologies in order to offer you up-to-the-second quotes.
one unique feature of this site is whether you are a beginner or an experienced trader, for a minimum deposit of $100 which will also form part of your initial capital, they will provide an Account Service Manager (ASM) to be your personal consultant who will serve as your mentor and trading partner, will answer all your technical questions and with whom you can talk live over the phone, email, chat or any form of communication available. your ASM will even trade along with you so that you will get to familiar yourself about how the real trade is done and give you the tips and tricks you need to know and do to achieve a profitable forex dealing.
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How the forex trading (iFOREX) is reliable and how much can some1 earn from it ?
Posted by Ryanita
on , under
forex trading signals
|
comments (0)
Shailesh J
Hi All:
I have been contacted by an account manager of forex trading company iForex and I was suggested that if would join their team I can earn around $1000 per month.
Can someone please guide how these sites are reliable and what about the FOREX trading business and how this compnay (iFOREX) is also relaible if anybody knows it personaly or earning anything from it.
Answer
Playing Forex can appear alluring, but the majority of people who try it lose money. All you have to do is do a web search on the words "Forex" and "lose" to see this is the consensus.
Forex is what we call a "zero sum" game. You are making a bet with someone else about whether a currency will rise or fall. For every winner there has to be a loser. If you are smarter than the average player, you may make money. If you are dumber than the average player, you are likely to lose money. Most of the people making the "bets" in Forex are highly trained professionals at banks and other institutions. You are unlikely to beat them at this game.
Actually Forex is not quite a zero sum game. It's a slightly negative sum game as the Forex broker takes a small percentage each time in the spread. It's a small amount but over a hundred trades, it ends up being a considerable amount of money. So the average player is likely to lose money, and remember the average player is a highly trained professional and probably smarter than you.
There is a lot of luck in Forex, and if you play it, you will have some periods of time where you make money. This is usually because you are having a lucky streak, not because you have suddenly become an expert Forex player. However, most people are unwilling to admit their success is due to luck. They become convinced they have a system that works, and lose a lot of money trying to refine it.
Further complicating the problem is the large number of Forex scams on the internet. Most Forex websites are of questionable honesty. You will find many people on the Internet that claim they made a lot of money using Forex. They are usually liars trying to make money. They will say: "Go to Forexcrap . com/q2347." The "q2347" is a signal to the Forexcrap site that you are being referred to them by "q2347." If they sell something to you, "q2347" gets a kickback. These coded signals can be hidden by different methods in the link. Other people will refer you to their own private website or blog for the purpose of trying to get money off you. Also there are a good number of trolls out there that like to pretend they are successful forex traders just for the fun of it.
I would recommend not trying to do Forex at all, unless you are a trained professional. It's like playing poker with people better than you, with the house constantly taking a small percentage from the pot.
Playing Forex can appear alluring, but the majority of people who try it lose money. All you have to do is do a web search on the words "Forex" and "lose" to see this is the consensus.
Forex is what we call a "zero sum" game. You are making a bet with someone else about whether a currency will rise or fall. For every winner there has to be a loser. If you are smarter than the average player, you may make money. If you are dumber than the average player, you are likely to lose money. Most of the people making the "bets" in Forex are highly trained professionals at banks and other institutions. You are unlikely to beat them at this game.
Actually Forex is not quite a zero sum game. It's a slightly negative sum game as the Forex broker takes a small percentage each time in the spread. It's a small amount but over a hundred trades, it ends up being a considerable amount of money. So the average player is likely to lose money, and remember the average player is a highly trained professional and probably smarter than you.
There is a lot of luck in Forex, and if you play it, you will have some periods of time where you make money. This is usually because you are having a lucky streak, not because you have suddenly become an expert Forex player. However, most people are unwilling to admit their success is due to luck. They become convinced they have a system that works, and lose a lot of money trying to refine it.
Further complicating the problem is the large number of Forex scams on the internet. Most Forex websites are of questionable honesty. You will find many people on the Internet that claim they made a lot of money using Forex. They are usually liars trying to make money. They will say: "Go to Forexcrap . com/q2347." The "q2347" is a signal to the Forexcrap site that you are being referred to them by "q2347." If they sell something to you, "q2347" gets a kickback. These coded signals can be hidden by different methods in the link. Other people will refer you to their own private website or blog for the purpose of trying to get money off you. Also there are a good number of trolls out there that like to pretend they are successful forex traders just for the fun of it.
I would recommend not trying to do Forex at all, unless you are a trained professional. It's like playing poker with people better than you, with the house constantly taking a small percentage from the pot.
Is forex trading a safe way to earn lots of money?
Simon
Hi guys,
Recently i've seen so many sites that speak about forex trading and brokers and so on. I saves a bit money and i was thinking to start trading forex and double it. Please i need some advice. Preferably someone who has past experience with it. Is it a good or bad idea. Please advice
Answer
Playing Forex can appear alluring, but the majority of people who try it lose money. All you have to do is do a web search on the words "Forex" and "lose" to see this is the consensus.
Forex is similar to what we call a "zero sum" game. You are making a bet with someone else about whether a currency will rise or fall. For every winner there has to be a loser. The net winnings of everyone combined equals zero. If you are smarter than the average player, you may make money. If you are dumber than the average player, you are likely to lose money. Most of the people making the "bets" in Forex are highly trained professionals at banks and other institutions. You are unlikely to beat them at this game.
Actually Forex is not quite a zero sum game. It's a slightly negative sum game as the Forex broker takes a small percentage each time in the spread. It's a small amount but over a hundred trades, it ends up being a considerable amount of money. So the average player is likely to lose money, and remember the average player is a highly trained professional and probably smarter than you.
There is a lot of luck in Forex, and if you play it, you will have some periods of time where you make money. This is usually because you are having a lucky streak, not because you have suddenly become an expert Forex player. However, most people are unwilling to admit their success is due to luck. They become convinced they have a system that works, and lose a lot of money trying to refine it.
Further complicating the problem is the large number of Forex scams on the internet. Most Forex websites are of questionable honesty. You will find many people on the Internet that claim they made a lot of money using Forex. They are usually liars trying to make money. They will say: "Go to Forexcrap,com/q2347." The "q2347" is a signal to the Forexcrap site that you are being referred to them by "q2347." If they sell something to you, "q2347" gets a kickback. These coded signals can be hidden by different methods in the link. Other people will refer you to their own private website or blog for the purpose of trying to get money off you. Also there are a good number of trolls out there that like to pretend they are successful forex traders just for the fun of it.
I would recommend not trying to do Forex at all, unless you are a trained professional. It's like playing poker with people better than you, with the house constantly taking a small percentage from the pot.
Read the warnings in the links below:
Playing Forex can appear alluring, but the majority of people who try it lose money. All you have to do is do a web search on the words "Forex" and "lose" to see this is the consensus.
Forex is similar to what we call a "zero sum" game. You are making a bet with someone else about whether a currency will rise or fall. For every winner there has to be a loser. The net winnings of everyone combined equals zero. If you are smarter than the average player, you may make money. If you are dumber than the average player, you are likely to lose money. Most of the people making the "bets" in Forex are highly trained professionals at banks and other institutions. You are unlikely to beat them at this game.
Actually Forex is not quite a zero sum game. It's a slightly negative sum game as the Forex broker takes a small percentage each time in the spread. It's a small amount but over a hundred trades, it ends up being a considerable amount of money. So the average player is likely to lose money, and remember the average player is a highly trained professional and probably smarter than you.
There is a lot of luck in Forex, and if you play it, you will have some periods of time where you make money. This is usually because you are having a lucky streak, not because you have suddenly become an expert Forex player. However, most people are unwilling to admit their success is due to luck. They become convinced they have a system that works, and lose a lot of money trying to refine it.
Further complicating the problem is the large number of Forex scams on the internet. Most Forex websites are of questionable honesty. You will find many people on the Internet that claim they made a lot of money using Forex. They are usually liars trying to make money. They will say: "Go to Forexcrap,com/q2347." The "q2347" is a signal to the Forexcrap site that you are being referred to them by "q2347." If they sell something to you, "q2347" gets a kickback. These coded signals can be hidden by different methods in the link. Other people will refer you to their own private website or blog for the purpose of trying to get money off you. Also there are a good number of trolls out there that like to pretend they are successful forex traders just for the fun of it.
I would recommend not trying to do Forex at all, unless you are a trained professional. It's like playing poker with people better than you, with the house constantly taking a small percentage from the pot.
Read the warnings in the links below:
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