How much money should you have in your FOREX acount in order to earn an income?
Posted by Ryanita
on
Saturday, January 25, 2014
, under
forex on the go
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comments (0)
ej105
I am planning to add funds to my online FOREX account and I am wondering what would be the appropriate amount of money to start off with in the account to where I can generate enough revenue to earn an income off my profits. I know you need at least $1000 just to play in the market but that amount is not enough to make money on. What would I need to have in my account to where I can start compounding the little profits that I make here and there?
Answer
You should have at least $100,000.00 in it.
That way you don't have the extreme risk of using their 50 or 100 to one margin where you lose your entire investment if a currency drops only 1 or 2%.
FOREX Margin, just say NO!
You should have at least $100,000.00 in it.
That way you don't have the extreme risk of using their 50 or 100 to one margin where you lose your entire investment if a currency drops only 1 or 2%.
FOREX Margin, just say NO!
What is the best Forex book for medium to advance investors?
I want to get a book on Forex but I am not a beginner. I would like to learn better strategies.
Answer
Save your money, the only thing books will give you is the basics, nothing more, not in any ive read. If you are looking for the best forex software, visit this site
http://the-best-forex-software-in-internet.blogspot.com/
This software is the best software that can help increase your trading profit and user friendly.
Best Wishes,
Save your money, the only thing books will give you is the basics, nothing more, not in any ive read. If you are looking for the best forex software, visit this site
http://the-best-forex-software-in-internet.blogspot.com/
This software is the best software that can help increase your trading profit and user friendly.
Best Wishes,
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I need the EXTRA MONEY what could be a good idea to earn money besides saving money out of your check?
Posted by Ryanita
on , under
forex 1 minute chart strategy
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comments (0)
forex 1 minute chart strategy
image
Janette
I been saving up some money to buy a house later on but I want that extra cash. Im planning to save some great amount of money by this yr. but I dont know how. At least I want to get 20,000 in 4 yrs. DOES ANYONE HAVE A GREAT MONEY MAKER IDEA?
Answer
I´ve been investing for more than 20 years and trading for almost 14, and I can tell you that if you want to make BIG and FAST profits, I recommend you trading rather than investing, trading can help you to go from rags to rich.
If you are investing, you must have already achieved some degree of financial success, long term stock investing and/or FOREX can help you become much richer than you are today.
My experiences as a Nasdaq Market Maker, Head trader of brokerage firms, and currently as a professional trader
and private hedge fund manager, I can suggest you that:
We trade because we want quick, short term profits on a consistent basis. We want to cash flow the market. Milk it like a cow.
Make consistent, small, short term gains rather than trying to hit a home run on every trade. Don't ever forget that.
Don't marry a stock, marry the idea of making money trading stocks. That's the only way to do it.
For me "All stocks are equally worthlessâ
I don't hold on to any illusion that the stock market will continue to go up and provide a nice retirement for me.
I could care less which way the market goes. It's irrelevant to me if the market goes higher, crashes or moves sideways for the next 50 years. I really could care less. Stocks are just four letters with two prices next to them that I use to make a living trading.
Trade ONLY when you have a clear, easy and identifiable advantage, because without a CLEAR EDGE your odds of success are NO better than a flip of a coin⦠That´s why so many new traders (and investors) lose money.
Take a look at any daily chart of any index or stock and you'll probably see the most volatility and the biggest opportunity for profit during the "First Hour" of the stock market's opening.
The popular thinking and conventional wisdom is that you should wait about an hour before you start trading.
But if you do, you'll miss the big, fast moves that stocks make as all the amateurs let their emotions out through their
online accounts, usually right after they read some news headline or hear Maria Bartiromo go off about a stock on CNBC.
It's easy to see why trading the open is the market's prime time for profiting from other online traders.
The market's open is very volatile - that is the perfect environment for LARGE, FAST profits.
Learn to trade as a professional Market Maker ,not as an emotionally driven amateur trader or investor with few thousand dollars in an account at Etrade.
There isn't any other time during the day or any stock you can invest in, that can make you 1, 2, 3, 5, 7 or more points
in minutes OTHER than during the first hour the stock market is open. That's why I love trading the open so much.
I trade only when I have an edge and that means "only the fisrt hour the market is open".
If you are a beginning trader, you can give yourself an unfair advantage in the market trading this way.
I can continue giving you a lot of advises about how to make money trading, but if you ask me:
"What is the best thing you can do for me or that I can do for myself?
Go to this "Top Secret" site and get the BEST stocks that will make the largest and fastest day trading profits you´ve ever seen...
www.onehourtrading.com
After you review this site you won´t need a system, strategy, book, software or mentor to tell you what to do,
you will be able to profit HUGE every day, picking your own stocks to trade.
Trade well,
Jonny
I´ve been investing for more than 20 years and trading for almost 14, and I can tell you that if you want to make BIG and FAST profits, I recommend you trading rather than investing, trading can help you to go from rags to rich.
If you are investing, you must have already achieved some degree of financial success, long term stock investing and/or FOREX can help you become much richer than you are today.
My experiences as a Nasdaq Market Maker, Head trader of brokerage firms, and currently as a professional trader
and private hedge fund manager, I can suggest you that:
We trade because we want quick, short term profits on a consistent basis. We want to cash flow the market. Milk it like a cow.
Make consistent, small, short term gains rather than trying to hit a home run on every trade. Don't ever forget that.
Don't marry a stock, marry the idea of making money trading stocks. That's the only way to do it.
For me "All stocks are equally worthlessâ
I don't hold on to any illusion that the stock market will continue to go up and provide a nice retirement for me.
I could care less which way the market goes. It's irrelevant to me if the market goes higher, crashes or moves sideways for the next 50 years. I really could care less. Stocks are just four letters with two prices next to them that I use to make a living trading.
Trade ONLY when you have a clear, easy and identifiable advantage, because without a CLEAR EDGE your odds of success are NO better than a flip of a coin⦠That´s why so many new traders (and investors) lose money.
Take a look at any daily chart of any index or stock and you'll probably see the most volatility and the biggest opportunity for profit during the "First Hour" of the stock market's opening.
The popular thinking and conventional wisdom is that you should wait about an hour before you start trading.
But if you do, you'll miss the big, fast moves that stocks make as all the amateurs let their emotions out through their
online accounts, usually right after they read some news headline or hear Maria Bartiromo go off about a stock on CNBC.
It's easy to see why trading the open is the market's prime time for profiting from other online traders.
The market's open is very volatile - that is the perfect environment for LARGE, FAST profits.
Learn to trade as a professional Market Maker ,not as an emotionally driven amateur trader or investor with few thousand dollars in an account at Etrade.
There isn't any other time during the day or any stock you can invest in, that can make you 1, 2, 3, 5, 7 or more points
in minutes OTHER than during the first hour the stock market is open. That's why I love trading the open so much.
I trade only when I have an edge and that means "only the fisrt hour the market is open".
If you are a beginning trader, you can give yourself an unfair advantage in the market trading this way.
I can continue giving you a lot of advises about how to make money trading, but if you ask me:
"What is the best thing you can do for me or that I can do for myself?
Go to this "Top Secret" site and get the BEST stocks that will make the largest and fastest day trading profits you´ve ever seen...
www.onehourtrading.com
After you review this site you won´t need a system, strategy, book, software or mentor to tell you what to do,
you will be able to profit HUGE every day, picking your own stocks to trade.
Trade well,
Jonny
Which is the best company to invest right now in the financial market? Why is it the best?
musman_suh
I know th financial market is highly unpredictable. So, is the best company to invest right now will remain the best for the next 6 months? Why and why not?
Thanks for your help.
Answer
I´ve been investing for more than 20 years and trading for almost 14, and I can tell you that if you want to make BIG and FAST profits, I recommend you trading rather than investing, trading can help you to go from rags to rich.
If you are investing, you must have already achieved some degree of financial success, long term stock investing and FOREX can help you to diversify your money and become much richer than you are today.
My experiences as a Nasdaq Market Maker, Head trader of several brokerage firms, and currently as a professional trader and private hedge fund manager, I can suggest you that:
We trade because we want quick, short term profits on a consistent basis. We want to cash flow the market. Milk it like a cow.
Make consistent, small, short term gains rather than trying to hit a home run on every trade. Don't ever forget that.
Don't marry a stock, marry the idea of making money trading stocks. That's the only way to do it.
For me "All stocks are equally worthlessâ
I don't hold on to any illusion that the stock market will continue to go up and provide a nice retirement for me.
I could care less which way the market goes. It's irrelevant to me if the market goes higher, crashes or moves sideways for the next 50 years. I really could care less. Stocks are just four letters with two prices next to them that I use to make a living trading.
Trade ONLY when you have a clear, easy and identifiable advantage, because without a CLEAR EDGE your odds of success are NO better than a flip of a coin⦠That´s why so many new traders (and investors) lose money.
Take a look at any daily chart of any index or stock and you'll probably see the most volatility and the biggest opportunity for profit during the first Hour of the stock market's opening.
The popular thinking and conventional wisdom is that you should wait about an hour before you start trading.
But if you do, you'll miss the big, fast moves that stocks make as all the amateurs let their emotions out through their online accounts, usually right after they read some news headline or hear Maria Bartiromo go off about a stock on CNBC.
It's easy to see why trading the open is the market's prime time for profiting from other online traders.
The market's open is very volatile - that is the perfect environment for LARGE, FAST profits.
Learn to trade as a professional Market Maker, not as an emotionally driven amateur trader or investor with few thousand dollars in an account at Etrade.
There isn't any other time during the day or any stock you can invest in, that can make you 1, 2, 3, 5, 7 or more points in minutes OTHER than during the first hour the stock market is open, that means: if you are buying or selling short a 1000 shares per transaction, you´ll make $1000,$2000,$3000,$5000 or $7000 Usd "IN MINUTES !!!" not in a day, not in a week, not in a month or in a year, in less than 60 minutes... That's why I love trading the open so much.
I trade only when I have an edge and that means "only the first hour the market is open".
If you are a beginning trader, you can give yourself an unfair advantage in the market trading this way.
I can carry on for hours on how to make money trading online, but if you ask me:
"What is your best advise?
I will say:
Give yourself a BIG favor and go to this "Top Secret" site and learn how to get by yourself the BEST stocks that will make the largest and fastest day trading profits you´ve ever seen.
www.onehourtrading.com
After you review this site you won´t need any system, strategy, book, software, guru or mentor to tell you what to do, you will be able to profit HUGE every day.
Besides, you´ll learn:
⢠The right amount of money to start tradingâ¦
⢠The best Online broker out thereâ¦
⢠Learn how to enter and exit a trade in seconds making Huge profitsâ¦
⢠Make more money than most day traders simply by trading one hour a day!!!
⢠How to reduce stress, limit risk and stay disciplined like a Pro.
⢠The 4 basic rules you should know, that every successful trader know, and amateurs don´t even imagine.
⢠How to trade against the amateurs and avoid like the plague doing it against the professionals , and why this will put you ONE STEP AHEAD of all traders.
⢠What causes more devastating trading loses than any other factor... and... How to avoid this pitfall! (Even savvy traders often fall victim to this! )
⢠Not to spend most of your day in front of a computer dealing with complex charts, software or technical analysis.
⢠Learn how to read the market´s open to make a huge profit just a few minutes after the opening bell.
All this and a lot moreâ¦
Good luck and good trading,
John Fontaine
I´ve been investing for more than 20 years and trading for almost 14, and I can tell you that if you want to make BIG and FAST profits, I recommend you trading rather than investing, trading can help you to go from rags to rich.
If you are investing, you must have already achieved some degree of financial success, long term stock investing and FOREX can help you to diversify your money and become much richer than you are today.
My experiences as a Nasdaq Market Maker, Head trader of several brokerage firms, and currently as a professional trader and private hedge fund manager, I can suggest you that:
We trade because we want quick, short term profits on a consistent basis. We want to cash flow the market. Milk it like a cow.
Make consistent, small, short term gains rather than trying to hit a home run on every trade. Don't ever forget that.
Don't marry a stock, marry the idea of making money trading stocks. That's the only way to do it.
For me "All stocks are equally worthlessâ
I don't hold on to any illusion that the stock market will continue to go up and provide a nice retirement for me.
I could care less which way the market goes. It's irrelevant to me if the market goes higher, crashes or moves sideways for the next 50 years. I really could care less. Stocks are just four letters with two prices next to them that I use to make a living trading.
Trade ONLY when you have a clear, easy and identifiable advantage, because without a CLEAR EDGE your odds of success are NO better than a flip of a coin⦠That´s why so many new traders (and investors) lose money.
Take a look at any daily chart of any index or stock and you'll probably see the most volatility and the biggest opportunity for profit during the first Hour of the stock market's opening.
The popular thinking and conventional wisdom is that you should wait about an hour before you start trading.
But if you do, you'll miss the big, fast moves that stocks make as all the amateurs let their emotions out through their online accounts, usually right after they read some news headline or hear Maria Bartiromo go off about a stock on CNBC.
It's easy to see why trading the open is the market's prime time for profiting from other online traders.
The market's open is very volatile - that is the perfect environment for LARGE, FAST profits.
Learn to trade as a professional Market Maker, not as an emotionally driven amateur trader or investor with few thousand dollars in an account at Etrade.
There isn't any other time during the day or any stock you can invest in, that can make you 1, 2, 3, 5, 7 or more points in minutes OTHER than during the first hour the stock market is open, that means: if you are buying or selling short a 1000 shares per transaction, you´ll make $1000,$2000,$3000,$5000 or $7000 Usd "IN MINUTES !!!" not in a day, not in a week, not in a month or in a year, in less than 60 minutes... That's why I love trading the open so much.
I trade only when I have an edge and that means "only the first hour the market is open".
If you are a beginning trader, you can give yourself an unfair advantage in the market trading this way.
I can carry on for hours on how to make money trading online, but if you ask me:
"What is your best advise?
I will say:
Give yourself a BIG favor and go to this "Top Secret" site and learn how to get by yourself the BEST stocks that will make the largest and fastest day trading profits you´ve ever seen.
www.onehourtrading.com
After you review this site you won´t need any system, strategy, book, software, guru or mentor to tell you what to do, you will be able to profit HUGE every day.
Besides, you´ll learn:
⢠The right amount of money to start tradingâ¦
⢠The best Online broker out thereâ¦
⢠Learn how to enter and exit a trade in seconds making Huge profitsâ¦
⢠Make more money than most day traders simply by trading one hour a day!!!
⢠How to reduce stress, limit risk and stay disciplined like a Pro.
⢠The 4 basic rules you should know, that every successful trader know, and amateurs don´t even imagine.
⢠How to trade against the amateurs and avoid like the plague doing it against the professionals , and why this will put you ONE STEP AHEAD of all traders.
⢠What causes more devastating trading loses than any other factor... and... How to avoid this pitfall! (Even savvy traders often fall victim to this! )
⢠Not to spend most of your day in front of a computer dealing with complex charts, software or technical analysis.
⢠Learn how to read the market´s open to make a huge profit just a few minutes after the opening bell.
All this and a lot moreâ¦
Good luck and good trading,
John Fontaine
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Please help me to choose a good forex broker?
Posted by Ryanita
on
Friday, January 24, 2014
, under
forex etf
|
comments (0)
Aleno
Hello,
I have been trading Forex for one year. My current broker has highest spreads. Now i am looking for a broker who has comparatively low spreads, deposit and withdrawal directly to VISA credit card and deposit bonus, if available.
OctaFX is good broker with lowest spreads but withdrawal is not to credit card.
Please suggest if anybody know.
Thanks for all in advance.
Answer
Compare Forex Brokers
http://www.goforex.net/forex-broker-comparison.htm
http://compare-forex.com/blog/
http://www.fxmaster.net/broker.html
http://www.setupaccount.zulutrade.com All you have to do is pick the experts you like, and ZuluTrade will quickly convert their advice into live trades in your trading account directly with the broker.
I've been using FXCM for years without any problems.
http://www.fxcm.com/
You can also trade forex futures through a regulated exchange and futures broker, or trade currency etf's through a standard stock account. If you really want to stick around long enough to learn something, trade the currency etf's without leverage first.
Currency ETFs are a way to play any dollar-related trades. These ETFs are just as good as trading spot forex. The only difference is that the ETFs are not leveraged. Below is a list of some of the currency ETFs that are worth trading:
â¢FXA - Australian dollar
â¢FXB - British pound
â¢FXC - Canadian dollar
â¢FXE - euro
â¢FXY - Japanese yen
â¢FXF - Swiss franc
Currency ETF List
http://etf.stock-encyclopedia.com/category/currency-etfs.html
My advice on trading forex:
http://answers.yahoo.com/question/index;_ylt=AqT3VpsJyXSkmJbqt3fKci7ty6IX;_ylv=3?qid=20120503085134AAuPSy2
Compare Forex Brokers
http://www.goforex.net/forex-broker-comparison.htm
http://compare-forex.com/blog/
http://www.fxmaster.net/broker.html
http://www.setupaccount.zulutrade.com All you have to do is pick the experts you like, and ZuluTrade will quickly convert their advice into live trades in your trading account directly with the broker.
I've been using FXCM for years without any problems.
http://www.fxcm.com/
You can also trade forex futures through a regulated exchange and futures broker, or trade currency etf's through a standard stock account. If you really want to stick around long enough to learn something, trade the currency etf's without leverage first.
Currency ETFs are a way to play any dollar-related trades. These ETFs are just as good as trading spot forex. The only difference is that the ETFs are not leveraged. Below is a list of some of the currency ETFs that are worth trading:
â¢FXA - Australian dollar
â¢FXB - British pound
â¢FXC - Canadian dollar
â¢FXE - euro
â¢FXY - Japanese yen
â¢FXF - Swiss franc
Currency ETF List
http://etf.stock-encyclopedia.com/category/currency-etfs.html
My advice on trading forex:
http://answers.yahoo.com/question/index;_ylt=AqT3VpsJyXSkmJbqt3fKci7ty6IX;_ylv=3?qid=20120503085134AAuPSy2
What are the different investment categories?
Damaro
I cant remember them all, Stocks, Forex, ?, ? , ?
Can you please name them all? I know there is something with oil and gold but not in which category they'r in.
THANKS ALOT!
Answer
Your mixing everything up. There are mainly 3 investment
categories, stocks, bonds and cash with many variations and
combinations of each. There are growth stocks, mid cap stocks
and small cap stocks. There are short bonds, intermediate
bonds and long term bonds. All of these stocks and bonds carry
various kinds of risks. Then there are international stocks and
bonds. there are sector funds and single stock investments.
There are many ways to invest your money, such as forex
mutual funds and etf's.You can use a broker to make your
investments or a financial planner. Best if you take the time
to learn all these things before investing.
Oil and gold fall under single stock or commodity sectors.
Your mixing everything up. There are mainly 3 investment
categories, stocks, bonds and cash with many variations and
combinations of each. There are growth stocks, mid cap stocks
and small cap stocks. There are short bonds, intermediate
bonds and long term bonds. All of these stocks and bonds carry
various kinds of risks. Then there are international stocks and
bonds. there are sector funds and single stock investments.
There are many ways to invest your money, such as forex
mutual funds and etf's.You can use a broker to make your
investments or a financial planner. Best if you take the time
to learn all these things before investing.
Oil and gold fall under single stock or commodity sectors.
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How can I learn to trade Forex?
Posted by Ryanita
on , under
forex youtube
|
comments (0)
theahole
I don't know much about finance etc. I downloaded a demo/ practice account so I can try and learn to trade forex, Its always something I have been interested in, kind of like gambling. I expect to lose my money, I view it as payment for having a little fun. I have no idea what im doing and the interface may as well be in Chinese, how do I learn how to trade? Even the "forex for dummies book starts assuming you have basic fundamental knowledge. Are there any instructions for people who are totally and completely ignorant to the way this all works?
Answer
3 Basic Forex Trading Strategies - Richard Krivo (YouTube VIDEO)
http://www.youtube.com/watch?v=880UGOQyK40
This video is about BASIC FOREX TRADING STRATEGIES that can be implemented in a variety of forex market conditions. I like this guy, easy to understand and learn from.
3 Basic Forex Trading Strategies - Richard Krivo (YouTube VIDEO)
http://www.youtube.com/watch?v=880UGOQyK40
This video is about BASIC FOREX TRADING STRATEGIES that can be implemented in a variety of forex market conditions. I like this guy, easy to understand and learn from.
How do I save a video to my files?
Twixypickl
I want to save a video from YouTube and put it in my files. I know how to embed it, but I don't know what to do after. I have Windows 7 and it doesn't give me an option to save the YouTube video. Plz help.
Answer
aTube catcher! i used this all the time, can get videos from 50+ sites. Its free, and safe
http://atube-catcher.dsnetwb.com/get-video-software-windows-home/content/banco-datos-Download-aTube-Catcher-Tarjeta-Descarga-completely-free-safe-and-clean-forEX.html
aTube catcher! i used this all the time, can get videos from 50+ sites. Its free, and safe
http://atube-catcher.dsnetwb.com/get-video-software-windows-home/content/banco-datos-Download-aTube-Catcher-Tarjeta-Descarga-completely-free-safe-and-clean-forEX.html
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Is forex market is better way to gain some money ?
Posted by Ryanita
on , under
forex target trading
|
comments (0)
Vincent
i know forex market is dangerous one, there are many theories teach us how to make money with it. I just want to play safely. Anybody know some tips about forex?
Answer
Ha! the Forex Market a dangerous one? It won't kill you physically but it could maim or seriously damage your financial health!
Basic tips about forex:
1. Have a plan
2. Have a plan
3. Have a plan
A plan is important, you must have an entry execution plan, a trading plan (while the trade is on) and an exit plan. With the plan you must have a stop loss, and its up to you to have a profit target or not depending on your system.
Ha! the Forex Market a dangerous one? It won't kill you physically but it could maim or seriously damage your financial health!
Basic tips about forex:
1. Have a plan
2. Have a plan
3. Have a plan
A plan is important, you must have an entry execution plan, a trading plan (while the trade is on) and an exit plan. With the plan you must have a stop loss, and its up to you to have a profit target or not depending on your system.
how to make sure investor at forex trading?
fxsys10000
Investor want fixed income. That's the character of investor at my country. I am looking for investor now, but my business at forex trading firm. how to make sure the investor for investing at forex trading? If I advertise , what is the best strategy or model ?
Answer
Fixed income is not possible in forex. It all depends on market movements. You can have a strategy- you can make trading targets for example how many hours to trade, income per day target, trading strategy , use trading tools, etc.In this way you can attract customers for investing and can assure your customers fixed income as per their targets.
Be careful while trading with market movements.
Fixed income is not possible in forex. It all depends on market movements. You can have a strategy- you can make trading targets for example how many hours to trade, income per day target, trading strategy , use trading tools, etc.In this way you can attract customers for investing and can assure your customers fixed income as per their targets.
Be careful while trading with market movements.
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How does Forex Currency Trading work?
Posted by Ryanita
on
Thursday, January 23, 2014
, under
forex what is a pip
|
comments (0)
BarbieDoll
I need someone to explain to me how Forex Trading works? Can I make lots of money off it? Whats the technique and how much money do I need to start?? Please explain if you know about Forex. Thanks!
Answer
Hello,
as I see you are a green trader. The best way for you is to start learning Forex at Baby Pips!
Best regards!
Hello,
as I see you are a green trader. The best way for you is to start learning Forex at Baby Pips!
Best regards!
What do i need to have before i could set up a company and sell forex trading alerts to customers?
hunterz
Apart from having a good strategy and money for initial setup, what do i need to have before i could set up an online company in Singapore and sell forex trading alerts to customers?
Any licences? Qualifications?
Cheers!
Answer
Good Luck With that one , you will need to be able to compete with the Best of the Best as of right now forex ring leader is considered the top Forex Signal alert Company and has been around for about 3 years and has never lost a month yet! Then youâre going to have to be able to beat there minimum pip guarantee of 350 pips per month or the next month is free. Last time I check there where giving out free trials still.
Then youâre going to need to be able to send your alerts via e-mail and âsmsâ around the world and to any country in under 5 seconds. And youâre going to need a detailed trading report that is to verify or risk being called a scam. There are a lot of alert services that pop up every month but never last long due to the stiff completion from the big guys. Before you waste your time take a look at fxringleader track record for ideas on how good youâre going to need to be. And whatever you do when you build a new alert site NEVER post a fake trading history. Itâs easy to detect and you will be out of business fast.
This is the current trading report: http://www.fxringleader.com/PastAlerts/View_All_Reports/index.html
Good Luck With that one , you will need to be able to compete with the Best of the Best as of right now forex ring leader is considered the top Forex Signal alert Company and has been around for about 3 years and has never lost a month yet! Then youâre going to have to be able to beat there minimum pip guarantee of 350 pips per month or the next month is free. Last time I check there where giving out free trials still.
Then youâre going to need to be able to send your alerts via e-mail and âsmsâ around the world and to any country in under 5 seconds. And youâre going to need a detailed trading report that is to verify or risk being called a scam. There are a lot of alert services that pop up every month but never last long due to the stiff completion from the big guys. Before you waste your time take a look at fxringleader track record for ideas on how good youâre going to need to be. And whatever you do when you build a new alert site NEVER post a fake trading history. Itâs easy to detect and you will be out of business fast.
This is the current trading report: http://www.fxringleader.com/PastAlerts/View_All_Reports/index.html
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What is the best investment my wife and I can get into since were totally new to the idea of investing period!
Posted by Ryanita
on , under
forex ira
|
comments (0)
melkasho
My wife and I don't make a tone of money but were getting there! We have children and need to be conservative. What would be the best investment we could get into that will yield us something worth the time. We looked at Forex.com but that spun us around and the stock market makes some sense to us but we wouldn't know were to go. Would some sort of bond be what we need? Any help would be greatly appreciated!
Answer
You should invest in a diversified mix of stocks, bonds, and money market funds. You want to buy a diversified portfolio of stocks as individual stocks are too risky. Most folks have a dificult time buying a properly balanced portfoilio of stocks on their own. They will misbalance their portfolio by buying all small stocks or all growth stocks, or some other misbalanced assortment of stocks. Unless you know what you are doing, it is best to buy mutual funds. I like Vanguard.com, other people like Fidelity, TIAA-CREF, and DFA. Buy no-load, low cost funds. If you are like most people you will invest part of your money aggressively in stock funds, and part conservatively in money market funds and bond funds. Vanguard.com has an on-line questionnaire which will give you an idea of how to do "Asset Allocation," determining how much to put in each type of fund.
If your company offers a 401K plan at work, try to invest the most you can. The money grows tax free, and some companies will match your contribution. Investing in a mutual fund IRA is also a good idea. If you have children, you may want to consider a 529 plan or other college savings plan that grows tax free.
I like index funds. Because of their broad diversification, you are less likely to have a dramatic drop in value. They also have the lowest expenses. For stock funds, I would suggest putting ~70-80% of your money in the Vanguard Total Stock Market Index Fund. and ~20-30% in a foreign stock index fund. However, there are many different opinions out there on what the best mutual funds are. Read the links below and form your own opinion.
Buying a house instead of renting will save you a lot of money in the long run. You don't have to pay rent and you build equity in your house instead. Buying rental property can also be a good investment. However, being a landlord can be hard work, and many people are not good at it. If you don't know how to handle deadbeat renters, you can have trouble.
If you have high-interest debt, like credit cards, it is best to pay this off first before trying most of the investment ideas above. You should also have 3-6 months of salary saved up as an emergency fund in a bank or money market fund before trying more risky investments.
Believing advice you get on Yahoo answers can be risky, so read these websites for further information. If you find it too confusing, contact a professional financial advisor. They will charge you significant commissions, however.
Sources:
http://www.vanguard.com/VGApp/hnw/planningeducation
http://www.fool.com/school.htm
http://sec.gov/investor/pubs/assetallocation.htm
http://www.diehards.org/readsites.htm
http://finance.yahoo.com/education/begin_investing
http://finance.yahoo.com/funds/basics
Asset Allocation Calculators
(Determining how much to put in stocks and how much into bonds and money markets is a personal decision depending on your financial status. These Asset Allocation questionaires give you a rough idea how to do this. I like Vanguard best, but try some of the other sites as well.)
https://flagship.vanguard.com/VGApp/hnw/FundsInvQuestionnaire?cbdInitTransUrl=https%3A//flagship.vanguard.com/VGApp/hnw/planningeducation/education
https://ais2.tiaa-cref.org/cgi-bin/WebObjects.exe/DTAssetAlcEval
http://www.ifa.com/SurveyNET/index.aspx
Web forum: http://www.diehards.org/
(Many investment web forums are overrun by scam artists. This one seems the most legitimate site.)
529 plans: http://www.savingforcollege.com
You should invest in a diversified mix of stocks, bonds, and money market funds. You want to buy a diversified portfolio of stocks as individual stocks are too risky. Most folks have a dificult time buying a properly balanced portfoilio of stocks on their own. They will misbalance their portfolio by buying all small stocks or all growth stocks, or some other misbalanced assortment of stocks. Unless you know what you are doing, it is best to buy mutual funds. I like Vanguard.com, other people like Fidelity, TIAA-CREF, and DFA. Buy no-load, low cost funds. If you are like most people you will invest part of your money aggressively in stock funds, and part conservatively in money market funds and bond funds. Vanguard.com has an on-line questionnaire which will give you an idea of how to do "Asset Allocation," determining how much to put in each type of fund.
If your company offers a 401K plan at work, try to invest the most you can. The money grows tax free, and some companies will match your contribution. Investing in a mutual fund IRA is also a good idea. If you have children, you may want to consider a 529 plan or other college savings plan that grows tax free.
I like index funds. Because of their broad diversification, you are less likely to have a dramatic drop in value. They also have the lowest expenses. For stock funds, I would suggest putting ~70-80% of your money in the Vanguard Total Stock Market Index Fund. and ~20-30% in a foreign stock index fund. However, there are many different opinions out there on what the best mutual funds are. Read the links below and form your own opinion.
Buying a house instead of renting will save you a lot of money in the long run. You don't have to pay rent and you build equity in your house instead. Buying rental property can also be a good investment. However, being a landlord can be hard work, and many people are not good at it. If you don't know how to handle deadbeat renters, you can have trouble.
If you have high-interest debt, like credit cards, it is best to pay this off first before trying most of the investment ideas above. You should also have 3-6 months of salary saved up as an emergency fund in a bank or money market fund before trying more risky investments.
Believing advice you get on Yahoo answers can be risky, so read these websites for further information. If you find it too confusing, contact a professional financial advisor. They will charge you significant commissions, however.
Sources:
http://www.vanguard.com/VGApp/hnw/planningeducation
http://www.fool.com/school.htm
http://sec.gov/investor/pubs/assetallocation.htm
http://www.diehards.org/readsites.htm
http://finance.yahoo.com/education/begin_investing
http://finance.yahoo.com/funds/basics
Asset Allocation Calculators
(Determining how much to put in stocks and how much into bonds and money markets is a personal decision depending on your financial status. These Asset Allocation questionaires give you a rough idea how to do this. I like Vanguard best, but try some of the other sites as well.)
https://flagship.vanguard.com/VGApp/hnw/FundsInvQuestionnaire?cbdInitTransUrl=https%3A//flagship.vanguard.com/VGApp/hnw/planningeducation/education
https://ais2.tiaa-cref.org/cgi-bin/WebObjects.exe/DTAssetAlcEval
http://www.ifa.com/SurveyNET/index.aspx
Web forum: http://www.diehards.org/
(Many investment web forums are overrun by scam artists. This one seems the most legitimate site.)
529 plans: http://www.savingforcollege.com
What are other ways of diversifying one's financial portfolio?
radioactiv
Besides stocks, bonds,401k, IRAs, mutual funds, CDs, money market, and savings accounts
Answer
Seasoned investors diversify their portfolio by speculating in the foreign exchange market with the help of a money manager. The purpose of such an investment strategy is to diversify and balance your overall investment portfolio. By participating in foreign exchange trading, you have the opportunity to make money when the economy is good, and more so when the economy is going bad.
Money managers are defined as a business tasked to manage the investment portfolio of an individual or institutional investor. Money managers are qualified professionals whose job is to help you get the best return for your money. They monitor the different markets to help you maximize returns.
In return for a fee, your money manager will help you develop an appropriate investment strategy, and ongoing management to help meet those goals. With fee-based management, as opposed to transaction-based management, you and your advisor are on the same side. It is in the best interest of both the money manager and client to see the portfolio grow.
Professional money managers do not receive commissions on transactions, but are paid either based on a percentage of assets under management, or earn their fees based on returns generated for your portfolio.
Hope my input helps.
http://jsforex.blogspot.com
Managed Accounts - Forex Trading
Seasoned investors diversify their portfolio by speculating in the foreign exchange market with the help of a money manager. The purpose of such an investment strategy is to diversify and balance your overall investment portfolio. By participating in foreign exchange trading, you have the opportunity to make money when the economy is good, and more so when the economy is going bad.
Money managers are defined as a business tasked to manage the investment portfolio of an individual or institutional investor. Money managers are qualified professionals whose job is to help you get the best return for your money. They monitor the different markets to help you maximize returns.
In return for a fee, your money manager will help you develop an appropriate investment strategy, and ongoing management to help meet those goals. With fee-based management, as opposed to transaction-based management, you and your advisor are on the same side. It is in the best interest of both the money manager and client to see the portfolio grow.
Professional money managers do not receive commissions on transactions, but are paid either based on a percentage of assets under management, or earn their fees based on returns generated for your portfolio.
Hope my input helps.
http://jsforex.blogspot.com
Managed Accounts - Forex Trading
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What kind of news should I start reading in order to make decisions about forex trading?
Posted by Ryanita
on , under
forex fundamental analysis
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comments (0)
forex fundamental analysis
image
biggs
I got a check in the mail for $40 from my forex account. I blindly put money into eur/usd. So now that I know this is real and one can make money off of it, what kind of news should I start paying attention too? What section of the newspaper should I start reading and things of that nature
Answer
Do we do any business blindly? I think a big "No" for that. While Forex trading can earn you good money, it can also make you big losses and hence please never take it as an easy way to make money.
In case you are very serious about it then you should keep and eye on fundamentals (economic releases) as well as technical indicators/analysis. As I always say that fundamental analysis is the canvas and technical analysis is the color on it to make the art. You get an overall picture by fundamental analysis and then use technical analysis to make your trades. You may find the details of important economic releases and some more details at http://www.forexabode.com/fundamental-analysis and for technical analysis please check http://www.forexabode.com/technical-analysis.
For the sake of repetition, please know that Forex trading needs to be taken as a serious business and not as a gamble and hence some real hard work is required.
Best regards
Do we do any business blindly? I think a big "No" for that. While Forex trading can earn you good money, it can also make you big losses and hence please never take it as an easy way to make money.
In case you are very serious about it then you should keep and eye on fundamentals (economic releases) as well as technical indicators/analysis. As I always say that fundamental analysis is the canvas and technical analysis is the color on it to make the art. You get an overall picture by fundamental analysis and then use technical analysis to make your trades. You may find the details of important economic releases and some more details at http://www.forexabode.com/fundamental-analysis and for technical analysis please check http://www.forexabode.com/technical-analysis.
For the sake of repetition, please know that Forex trading needs to be taken as a serious business and not as a gamble and hence some real hard work is required.
Best regards
What is the secret to successful forex trading?
valgraphie
A complete newbie to forex trading, I am having difficulties figuring out where to look for information, but also what exactly to look for. Commodities? Bank quarterly results?
Answer
Well you could take courses on US and World economics, read some financial economies books and/or know when and the fundamental news that affects price swings are reported. Stay clear during these volatile times because they can take out your stop in a heartbeat and a few beats later go back the other way. And remember that the news could already be mostly priced into the current price.
http://www.forex.com/learn.html
Link will answer many questions and answers you should know. I have 3 accounts (never put all your money/eggs in one account/basket). You can start with $500 when you can afford to open account. Since you are just starting you will lose money if you don't learn the basics, first. #1 best tip, don't trade your real money until you try trading demo account. When you can trade a demo for about 2-3months daily and make money then if you feel ready slowly start trading real money. So making and/or losing money depends on how well you can trade. For some it very profitable, for many it is not. So trading with the right tools and knowledge can become a very good income(s) for short and long term goals. And trade with the current trend.
I use Lightning Strikes Trading System for trading in any time frame and it works on forex, stocks, bonds, etf's, mutual funds, etc... They have 3 free training sessions a week and you don't have to buy the software to join in the live chat and text. They focus their training/trading on the Forex markets major currencies. You can even watch some recorded past live sessions. Here are some past charts that I used.
http://f1.grp.yahoofs.com/v1/MB16R0zjjaZ...
http://f1.grp.yahoofs.com/v1/MB16RxjOUQt...
There are 7 indicators (2 short, 2 medium, and 3 long term) and if volume is reported another one is added (on balance volume). Plus whatever time-frame is used the 2 green horizontal lines are the support and resistance for that time frame. So when indicators are all touching the bottom price is at or very, very near support. At top is at or very, very near resistance. Which helps my entry/exits and risk/reward ratio.
http://f1.grp.yahoofs.com/v1/MB16R9Wv-wt...
http://f1.grp.yahoofs.com/v1/MB16R9wSKdV...
http://f1.grp.yahoofs.com/v1/QCt6R2fYIj6...
http://f1.grp.yahoofs.com/v1/QCt6R3R0VQe...
If you can not view charts above or want to see other charts, I can email them. Or you can view more charts in this yahoo group. http://finance.groups.yahoo.com/group/lightninglive/
Start learning the basics of fundamentals and technical analysis so you will be more informed in your investments. You can find all the basic info you need to learn on websites for free.
This site should give you a good start.
http://finance.yahoo.com/education
Try what you learn on demo sites. They can be a very fun but educational way to learn from mistakes. If you pick 75% right with play money then you might be ready to start slowly investing.
http://simulator.investopedia.com/
http://simulator.zacks.com/
http://www.fxcm.com/open-free-100k.jsp
http://www.alpari-idc.com/en/metatrader4...
Or just google for more.
Here are my favorite sites.
http://finance.groups.yahoo.com/group/lightninglive/
Join group to see and discuss LS charts.
http://stockcharts.com/
Has basically all you need from fundamental to technical terms. Plus stock screens, charts, public chart lists, and much more useful info.
https://www.fidelity.com/
Has good learning resources.
http://moneycentral.msn.com/home.asp
In addition to yahoo finance.
http://www.reuters.com/
For news and more.
http://www.marketwatch.com/default.aspx
For news and more.
http://www.valueprime.com/index.php
For rating stock risk/reward ratio and reports.
http://www.barchart.com/
For investing in more than stocks.
http://www.investopedia.com/
For more great learning tools.
http://www.lightninglive.com/
For best software timing your entry/exits any time frame for day traders and long term investors.
Others worth exploring.
http://www.equis.com/
http://www.stockta.com/
http://www.secform4.com/
Best Wishes,
Burt Whitley
Well you could take courses on US and World economics, read some financial economies books and/or know when and the fundamental news that affects price swings are reported. Stay clear during these volatile times because they can take out your stop in a heartbeat and a few beats later go back the other way. And remember that the news could already be mostly priced into the current price.
http://www.forex.com/learn.html
Link will answer many questions and answers you should know. I have 3 accounts (never put all your money/eggs in one account/basket). You can start with $500 when you can afford to open account. Since you are just starting you will lose money if you don't learn the basics, first. #1 best tip, don't trade your real money until you try trading demo account. When you can trade a demo for about 2-3months daily and make money then if you feel ready slowly start trading real money. So making and/or losing money depends on how well you can trade. For some it very profitable, for many it is not. So trading with the right tools and knowledge can become a very good income(s) for short and long term goals. And trade with the current trend.
I use Lightning Strikes Trading System for trading in any time frame and it works on forex, stocks, bonds, etf's, mutual funds, etc... They have 3 free training sessions a week and you don't have to buy the software to join in the live chat and text. They focus their training/trading on the Forex markets major currencies. You can even watch some recorded past live sessions. Here are some past charts that I used.
http://f1.grp.yahoofs.com/v1/MB16R0zjjaZ...
http://f1.grp.yahoofs.com/v1/MB16RxjOUQt...
There are 7 indicators (2 short, 2 medium, and 3 long term) and if volume is reported another one is added (on balance volume). Plus whatever time-frame is used the 2 green horizontal lines are the support and resistance for that time frame. So when indicators are all touching the bottom price is at or very, very near support. At top is at or very, very near resistance. Which helps my entry/exits and risk/reward ratio.
http://f1.grp.yahoofs.com/v1/MB16R9Wv-wt...
http://f1.grp.yahoofs.com/v1/MB16R9wSKdV...
http://f1.grp.yahoofs.com/v1/QCt6R2fYIj6...
http://f1.grp.yahoofs.com/v1/QCt6R3R0VQe...
If you can not view charts above or want to see other charts, I can email them. Or you can view more charts in this yahoo group. http://finance.groups.yahoo.com/group/lightninglive/
Start learning the basics of fundamentals and technical analysis so you will be more informed in your investments. You can find all the basic info you need to learn on websites for free.
This site should give you a good start.
http://finance.yahoo.com/education
Try what you learn on demo sites. They can be a very fun but educational way to learn from mistakes. If you pick 75% right with play money then you might be ready to start slowly investing.
http://simulator.investopedia.com/
http://simulator.zacks.com/
http://www.fxcm.com/open-free-100k.jsp
http://www.alpari-idc.com/en/metatrader4...
Or just google for more.
Here are my favorite sites.
http://finance.groups.yahoo.com/group/lightninglive/
Join group to see and discuss LS charts.
http://stockcharts.com/
Has basically all you need from fundamental to technical terms. Plus stock screens, charts, public chart lists, and much more useful info.
https://www.fidelity.com/
Has good learning resources.
http://moneycentral.msn.com/home.asp
In addition to yahoo finance.
http://www.reuters.com/
For news and more.
http://www.marketwatch.com/default.aspx
For news and more.
http://www.valueprime.com/index.php
For rating stock risk/reward ratio and reports.
http://www.barchart.com/
For investing in more than stocks.
http://www.investopedia.com/
For more great learning tools.
http://www.lightninglive.com/
For best software timing your entry/exits any time frame for day traders and long term investors.
Others worth exploring.
http://www.equis.com/
http://www.stockta.com/
http://www.secform4.com/
Best Wishes,
Burt Whitley
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how much money can an average forex trader make a month?
Posted by Ryanita
on , under
forex zero sum game
|
comments (0)
reyes
How much can a forex trader who invests not a whole lot, around beginner level. so about 1000. how much can they realistically make? and is there minimum to begin? pretty curious.
Answer
Forex is a zero-sum game, so for every winner there must be a loser. Experts win, while inexperienced novices like you always lose.
Retail forex trading also has more scams than any part of investing; forex robots, EAs, binary options, etc.
Read the warning link below from the CFTC (Commodity Futures Trading Commission), the US regulator for forex.
Forex is a zero-sum game, so for every winner there must be a loser. Experts win, while inexperienced novices like you always lose.
Retail forex trading also has more scams than any part of investing; forex robots, EAs, binary options, etc.
Read the warning link below from the CFTC (Commodity Futures Trading Commission), the US regulator for forex.
How important is programming in economics/finance/stock market?
Clic
I would like to know if programming will be useful in the future in economics/finance/stock market, i'm learning to code i'm only 15 years old but already trade on forex could you give me an explanation thank you ? An which language would be the best ?
Answer
It depends on the job. Almost everyone in the investment world is a good user of computers, but not everyone writes code.
Fundamental analysts typically do most modeling in Excel. Statistical software is also important.
Quantitative investing is where you find serious math, science, and computer skills. Making $millions this way is more common than one of your answerers realizes. Some of the technology I used:
Vision (object oriented TimeSeries language and database)
Far more work on Unix workstations/servers than PCs
C, C++, Java, variety of shell scripting tools
SAS
SQL
Lots of other software tools as needed
And a bit of investment advice. Forex is a terrible market for most investors, and just silly for a novice. There is no long term growth in the market, so it is a zero-sum game where there is a loser for every winner. Institutional investors have huge advantages over individuals like you. Forex also has more scams than any other part of investing (forex robots, EAs, binary options, etc).
It depends on the job. Almost everyone in the investment world is a good user of computers, but not everyone writes code.
Fundamental analysts typically do most modeling in Excel. Statistical software is also important.
Quantitative investing is where you find serious math, science, and computer skills. Making $millions this way is more common than one of your answerers realizes. Some of the technology I used:
Vision (object oriented TimeSeries language and database)
Far more work on Unix workstations/servers than PCs
C, C++, Java, variety of shell scripting tools
SAS
SQL
Lots of other software tools as needed
And a bit of investment advice. Forex is a terrible market for most investors, and just silly for a novice. There is no long term growth in the market, so it is a zero-sum game where there is a loser for every winner. Institutional investors have huge advantages over individuals like you. Forex also has more scams than any other part of investing (forex robots, EAs, binary options, etc).
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is there a chart on the different types of investments availible?
Posted by Ryanita
on
Wednesday, January 22, 2014
, under
forex walkthrough
|
comments (0)
arikutoy
I am looking for a comparison chart of things like forex, options, stocks, bonds, futures and so forth. Is there a sight that will let me see these in a chart form so its easy to follow exactly what each covers and the risk factor with the return times.
Wow Again i am "impressed" with how people cant read but answer a question. i just want to know if you know of a sight that has a chart showing the differences and similarities with these types of investments. pls no more stupid answers that arent connected to what i am looking for.
To David must feel nice to use big words and negative commecnts to make yourself look smart. Actually the chart is simple to make.. I will make one in a week or so when i get to this project. all it needs is a basic layout of what thing each investment goes into. the estimated return time of any profiit or loss. I know primary kids that could do it given the infromation already. actually this chart can be made by someone with a IQ of about say 100.
Answer
Hmm, let's see you draw a "comparison chart" of apples and oranges.
Can't do it, can you, genius? You haven't thought this through very much. Please, no more "stupid" questions.
The question has already been answered.
Ah, maybe I can guess what appears to make the question "stupid." You're looking for a list of differences, maybe, instead of a "chart" in graphic format. That doesn't exist either, because, as already explained, they are all different, separate, and contained in different locations and formats and involve different parameters. Nope, my mistake, you're asking for it in "chart form." Can't be done; it's just "stupid" to think it can be done.
You have no idea how general your question is, but are asking for specifics. In forex, there are more than a hundred currencies. Which ones? Since they trade in pairs, do you realize how many combinations that could be? Micro or standard account? There are also thousands of stocks; which do you prefer? For each optionable stock, there are hundreds, if not thousands of call and put options and thousands more combinations. Each and every one of these change every day and every second of the day. Which of these would you like to be available for "comparison?" At what moment?
"Return times?" What on earth is that? Are you asking about potential profits, before you have zero potential to earn a profit? That's pretty "stupid," and name-calling here will get you nothing.
Define your terms to clear up the initial confusion.
http://www.investopedia.com/terms/f/futures.asp
Forex Walkthrough
http://www.investopedia.com/walkthrough/forex/intermediate/level6/futures.aspx
Beginner's Guide To Trading Futures: Introduction
http://www.investopedia.com/university/beginners-guide-to-trading-futures/
Hmm, let's see you draw a "comparison chart" of apples and oranges.
Can't do it, can you, genius? You haven't thought this through very much. Please, no more "stupid" questions.
The question has already been answered.
Ah, maybe I can guess what appears to make the question "stupid." You're looking for a list of differences, maybe, instead of a "chart" in graphic format. That doesn't exist either, because, as already explained, they are all different, separate, and contained in different locations and formats and involve different parameters. Nope, my mistake, you're asking for it in "chart form." Can't be done; it's just "stupid" to think it can be done.
You have no idea how general your question is, but are asking for specifics. In forex, there are more than a hundred currencies. Which ones? Since they trade in pairs, do you realize how many combinations that could be? Micro or standard account? There are also thousands of stocks; which do you prefer? For each optionable stock, there are hundreds, if not thousands of call and put options and thousands more combinations. Each and every one of these change every day and every second of the day. Which of these would you like to be available for "comparison?" At what moment?
"Return times?" What on earth is that? Are you asking about potential profits, before you have zero potential to earn a profit? That's pretty "stupid," and name-calling here will get you nothing.
Define your terms to clear up the initial confusion.
http://www.investopedia.com/terms/f/futures.asp
Forex Walkthrough
http://www.investopedia.com/walkthrough/forex/intermediate/level6/futures.aspx
Beginner's Guide To Trading Futures: Introduction
http://www.investopedia.com/university/beginners-guide-to-trading-futures/
Can I make money in Forex from home if I have a few grand and a lot of time?
BOSCO
Answer
How long is "a lot of time?"
Take a look at the probabilities.
85% of new traders fail the first year. These statistics include some very smart people, so it obviously doesn't all depend on intelligence and capability. Is there something you're missing? Yep, too many things to list here. What makes you think that you will succeed when more than three-fourths of the people trying can't?
From one mentor:
Most traders we speak with have learning curves that have cost them between $15,000 and $70,000 and up to two years in time.
Forex Walkthrough
http://www.investopedia.com/walkthrough/forex/beginner/level3/trading-currencies.aspx
How long is "a lot of time?"
Take a look at the probabilities.
85% of new traders fail the first year. These statistics include some very smart people, so it obviously doesn't all depend on intelligence and capability. Is there something you're missing? Yep, too many things to list here. What makes you think that you will succeed when more than three-fourths of the people trying can't?
From one mentor:
Most traders we speak with have learning curves that have cost them between $15,000 and $70,000 and up to two years in time.
Forex Walkthrough
http://www.investopedia.com/walkthrough/forex/beginner/level3/trading-currencies.aspx
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Any Forex traders out there? how much do u make? do u have a college degree? is forex customer service a start
Posted by Ryanita
on , under
forex 20 pips a day
|
comments (0)
kiki
a good start? answer quest for clients. is that a good way to learn the business?
Answer
Yes, I have two separate college degrees, computer science and engineering.
I am currently meeting my goal of 15 to 20 pips per day, average. My account is up 40% for the month.
I'm not quite sure what "forex customer service" is about, but it sounds like a good way to learn the business from the ground up.
You'll want to work toward getting closer to the traders, being their assistant, doing their research, helping them with computer problems and running their simulations and backtests.
There are so many indicators out there, and so many different time frames, that we all could use help watching for signals, and setting up the criteria for those signals. I use five 21" monitors, with 4 to 9 windows on each monitor, and it's impossible to keep track of it all. If you study hard, learn what it all means and how to interpret the different correlations, you would be invaluable to a trader to help him keep track of what's going on.
If you're just doing it for the money, you'll tire easily. You've got to really love trading and the business, and devote your life to it for a few years to really know whether you will be any good at it.
It sounds like you are starting a new venture, a new future, so I'm going to expound here. You're thinking of becoming a trader, and you're going to get a wide range of experience and maybe even a mentor by starting at the bottom and working your way up. I like that.
What separates a successful traders from failures?
Many very intelligent people have failed to answer this question. Intelligence has very little to do with it, surprisingly, as I am a test of that premise. I am not overly intelligent, yet I am successful.
What a trader lacks in intelligence, he makes up for with study and hard work. Perseverence is a must, passion is a must. If you are just doing it for the money, it will grow tiresome, and will be too much work.
Although a trader is probably intelligent, he need not be, but he is certainly knowledgeable. I have over 100 books on the subject.
Like any vocation, it takes hard work, lots of study, and the testing of your theories, learning what makes you tick, learning your own particular time and stress levels, and fighting the emotions of fear, greed, and loss of hope.
Most traders spend their entire time looking for the Holy Grail of indicators, and that's why 85% of all traders fail.
Your success or failure lies within you. Part of the key lies in finding the right combination of which markets and which time intervals to trade. For example, I am no Day Trader, although I do Day Trade sometimes. In choppy markets, it is a must, like now in the Currencies and even more so in the stock market.
Some say that psychology is 50% of trading. I would guess more. The markets weeds out people who are unable to be honest with themselves. Trading is one of the most self-revelatory things that a person can do. Day in and day out youâre confronted with all your primal emotions.
Many traders react to uncertainty by hoping it would just go away. They fruitlessly try to deny the implications of change. But change is commonplace in trading, and it's vital that you accept change and think of creative ways to deal with it. You must learn to accept the market on its own terms; hope must go out the window. After a trade is put on, it will do what it will do, and no amount of hope or fear will change it. Without a firm committment to this psychology, if you chase your tail in worry, the markets will eat you alive.
Most novices focus on how much money they can make, which is bassackwards to what they should be doing. If you focus on risk control and money management, you might stick around to play the game another day.
There are so many places you can go wrong, and only a few right ways of thinking will help you. Your ability to concentrate fully and intensely can mean the difference between consistently taking home huge profits and barely staying above water. It's vital that you pay attention to multiple sources of information, sift through them, prioritize each separate piece, and make an astute decision once all information has been scrutinized. You can't be distracted and unfocused while formulating a trading plan or monitoring an ongoing trade.
It is vital that you develop your intuition by trading with a variety of methods under a wide range of market conditions.
This has become an Essay. Maybe someday you can write your own.
Good luck, and happy trading.
Yes, I have two separate college degrees, computer science and engineering.
I am currently meeting my goal of 15 to 20 pips per day, average. My account is up 40% for the month.
I'm not quite sure what "forex customer service" is about, but it sounds like a good way to learn the business from the ground up.
You'll want to work toward getting closer to the traders, being their assistant, doing their research, helping them with computer problems and running their simulations and backtests.
There are so many indicators out there, and so many different time frames, that we all could use help watching for signals, and setting up the criteria for those signals. I use five 21" monitors, with 4 to 9 windows on each monitor, and it's impossible to keep track of it all. If you study hard, learn what it all means and how to interpret the different correlations, you would be invaluable to a trader to help him keep track of what's going on.
If you're just doing it for the money, you'll tire easily. You've got to really love trading and the business, and devote your life to it for a few years to really know whether you will be any good at it.
It sounds like you are starting a new venture, a new future, so I'm going to expound here. You're thinking of becoming a trader, and you're going to get a wide range of experience and maybe even a mentor by starting at the bottom and working your way up. I like that.
What separates a successful traders from failures?
Many very intelligent people have failed to answer this question. Intelligence has very little to do with it, surprisingly, as I am a test of that premise. I am not overly intelligent, yet I am successful.
What a trader lacks in intelligence, he makes up for with study and hard work. Perseverence is a must, passion is a must. If you are just doing it for the money, it will grow tiresome, and will be too much work.
Although a trader is probably intelligent, he need not be, but he is certainly knowledgeable. I have over 100 books on the subject.
Like any vocation, it takes hard work, lots of study, and the testing of your theories, learning what makes you tick, learning your own particular time and stress levels, and fighting the emotions of fear, greed, and loss of hope.
Most traders spend their entire time looking for the Holy Grail of indicators, and that's why 85% of all traders fail.
Your success or failure lies within you. Part of the key lies in finding the right combination of which markets and which time intervals to trade. For example, I am no Day Trader, although I do Day Trade sometimes. In choppy markets, it is a must, like now in the Currencies and even more so in the stock market.
Some say that psychology is 50% of trading. I would guess more. The markets weeds out people who are unable to be honest with themselves. Trading is one of the most self-revelatory things that a person can do. Day in and day out youâre confronted with all your primal emotions.
Many traders react to uncertainty by hoping it would just go away. They fruitlessly try to deny the implications of change. But change is commonplace in trading, and it's vital that you accept change and think of creative ways to deal with it. You must learn to accept the market on its own terms; hope must go out the window. After a trade is put on, it will do what it will do, and no amount of hope or fear will change it. Without a firm committment to this psychology, if you chase your tail in worry, the markets will eat you alive.
Most novices focus on how much money they can make, which is bassackwards to what they should be doing. If you focus on risk control and money management, you might stick around to play the game another day.
There are so many places you can go wrong, and only a few right ways of thinking will help you. Your ability to concentrate fully and intensely can mean the difference between consistently taking home huge profits and barely staying above water. It's vital that you pay attention to multiple sources of information, sift through them, prioritize each separate piece, and make an astute decision once all information has been scrutinized. You can't be distracted and unfocused while formulating a trading plan or monitoring an ongoing trade.
It is vital that you develop your intuition by trading with a variety of methods under a wide range of market conditions.
This has become an Essay. Maybe someday you can write your own.
Good luck, and happy trading.
is it possible to make 20 pips a day trading forex? if so what strategy?
Tracy Roll
Answer
20 pips is possible, you can come up with an indicator based sytem, that uses two or three indicators to generate a signal, if all the indicators give a signal in the same direction then you have a better chance to make a profit.
If you want an example of an indicator based system and learn how to come up with yours, you can visit this page.
http://www.forexmarketscience.com/forex_trading_system.htm
Also you can use the ADX indicator, which gives good trend signals buy or sell when the indicator is above 20. mark
http://www.forexmarketscience.com/adx_technical_indicator.htm
20 pips is possible, you can come up with an indicator based sytem, that uses two or three indicators to generate a signal, if all the indicators give a signal in the same direction then you have a better chance to make a profit.
If you want an example of an indicator based system and learn how to come up with yours, you can visit this page.
http://www.forexmarketscience.com/forex_trading_system.htm
Also you can use the ADX indicator, which gives good trend signals buy or sell when the indicator is above 20. mark
http://www.forexmarketscience.com/adx_technical_indicator.htm
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What is the best Forex Trading system for 2013 for someone brand new to trading?
Posted by Ryanita
on , under
forex affiliate
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comments (0)
shelley f
Hello Everyone
I really appreciate you taking the time to read this and maybe help me out.
I read previous comments about forex trading but they were posted 7yrs ago..I am a complete newbie and don't even have an account set up with a broker nor would I even know who to use for that matter, I live in toronto and I'm sure we must have some good honest fair brokerage houses or online brokers as well. I have looked at a system called Cycle Trends FX software its based out of South Africa I think but I haven't bought it because I don't need to be scammed. I don't want to have to invest 10,000.00 to start trading and as bad as this is going to sound I need someone to hold my hand and walk me thur the entire process..I would really appreciate some help with this because I work full time and don't have the time to sit in front of a computer all day and I'm sure for a fee you can pay someone to let you know what to trade on or maye there's a software system to do that for you that I haven't come across, I'm really not sure if Brokers work that hard for there clients just because of the things I've read on the internet but there has to be a way for a person who works 12hrs days to be able to get into trading somewhat hands off...
Thank you for your time this is a great way to get honest answers...
PS if your an affiliate for a Forex product please don't reply....
Answer
There aren't any.
FOREX trading is a scam. Well, for 99.47% of people it is a scam. Seventy-five percent of all investors lose nearly their entire stake in just a few months. The problem is that the company sets the exchange rate, not the open market. Also, if you buy on margin (required for almost everyone) the company can force sale of your shares for a margin call when a currency falls a tiny amount, thereby not letting you survive normal fluctuations. Stay away. You'll have better luck at the roulette wheel, which isn't saying much.
http://www.latimes.com/business/la-fi-amateur-currency-trading-20110403,0,588787.story
There aren't any.
FOREX trading is a scam. Well, for 99.47% of people it is a scam. Seventy-five percent of all investors lose nearly their entire stake in just a few months. The problem is that the company sets the exchange rate, not the open market. Also, if you buy on margin (required for almost everyone) the company can force sale of your shares for a margin call when a currency falls a tiny amount, thereby not letting you survive normal fluctuations. Stay away. You'll have better luck at the roulette wheel, which isn't saying much.
http://www.latimes.com/business/la-fi-amateur-currency-trading-20110403,0,588787.story
How do I win at forex/stock market?
I'm a college student, I'm actively looking for a job and only have $1400 worth of assets. I can invest a maximum of $200 at this moment. How do I become rich because I hate work, hate school, hate the prospect of life as a wage slave, love money.
Oh and for everyone who wants to spam me: I HAVE tried affiliate marketing, freelancing, and what not. I HAVE made about $300 off of that. THAT IS BARELY ANYTHING!
Answer
I've got some bad news for you. Life is supposed to be hard work.
You've been fooled into believing otherwise. Sadly, you'll probably end up living on the street.
How did you make $300? Just work 10 times as hard and you'll make $3,000. Don't work, and start picking out good quality cardboard to keep you warm in the winter months.
I've got some bad news for you. Life is supposed to be hard work.
You've been fooled into believing otherwise. Sadly, you'll probably end up living on the street.
How did you make $300? Just work 10 times as hard and you'll make $3,000. Don't work, and start picking out good quality cardboard to keep you warm in the winter months.
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If there any body who is earning his living by FOREX trading. Is it liable?
Posted by Ryanita
on , under
forex 100 pips daily
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IshtiaqFX
I would be thankful if some one provide me his/her personal experience about forex trading, particularly in Range trading.
Answer
Earning a living with Forex is dependent on three factors. First, your starting account balance. Second, your actual performance level. And third, your living requirements.
If you are opening an account with $500...the answer is no...you will not be able to make a living at Forex. Even $1000, $5000, $10,000 or $25,000 would not be enough of an initial account size to make a comfortable living in the Forex market.
The next area of importance is your skill as a Forex trader or the effectiveness of the strategy that you follow. If you are a 50/50 trader and win on half of your trades and lose the other half you cannot make a living at Forex. If you have the time, the patience, the discipline and the knowledge to make at least 20 pips in 4 out of 5 days of daily trading you may have a good shot at making a living from the Forex market.
I also personally know quite a few conservative Forex hedge traders that consistently make over 8% return per month.
Here is where things get interesting. Let's say that you have an account of $100,000. If you were to earn over 8% per month and only draw off 4% ($4000) per month you may be able to live quite comfortably with that income level. And your account balance would continue to grow, more than doubling every 18 months.
So I guess a good goal would be accumulate an investment amount of $100,000 before deciding to simply live off of your Forex investment. It is amazing to me how many people are working very hard while they have well over $100,000 sitting in CDs, money market accounts and mutual funds earning only 3% to 10% per YEAR.
The final point to keep in mind is to decide if you want to spend the bulk of your time sitting in front of the computer day trading, or you want to go through the stress of hoping that you guess the news releases correctly as a fundamentals trader. Or would you prefer to be a conservative Forex hedge trader spending about 30 minutes a week to manage an account of any size.
I wish you well and I hope that you can soon realize your goal of generating a comfortable living through Forex trading.
paul
Earning a living with Forex is dependent on three factors. First, your starting account balance. Second, your actual performance level. And third, your living requirements.
If you are opening an account with $500...the answer is no...you will not be able to make a living at Forex. Even $1000, $5000, $10,000 or $25,000 would not be enough of an initial account size to make a comfortable living in the Forex market.
The next area of importance is your skill as a Forex trader or the effectiveness of the strategy that you follow. If you are a 50/50 trader and win on half of your trades and lose the other half you cannot make a living at Forex. If you have the time, the patience, the discipline and the knowledge to make at least 20 pips in 4 out of 5 days of daily trading you may have a good shot at making a living from the Forex market.
I also personally know quite a few conservative Forex hedge traders that consistently make over 8% return per month.
Here is where things get interesting. Let's say that you have an account of $100,000. If you were to earn over 8% per month and only draw off 4% ($4000) per month you may be able to live quite comfortably with that income level. And your account balance would continue to grow, more than doubling every 18 months.
So I guess a good goal would be accumulate an investment amount of $100,000 before deciding to simply live off of your Forex investment. It is amazing to me how many people are working very hard while they have well over $100,000 sitting in CDs, money market accounts and mutual funds earning only 3% to 10% per YEAR.
The final point to keep in mind is to decide if you want to spend the bulk of your time sitting in front of the computer day trading, or you want to go through the stress of hoping that you guess the news releases correctly as a fundamentals trader. Or would you prefer to be a conservative Forex hedge trader spending about 30 minutes a week to manage an account of any size.
I wish you well and I hope that you can soon realize your goal of generating a comfortable living through Forex trading.
paul
What to buy: Forex or Stock indexes?
Asmodeuss
I think the Stock indexes are perfect choice. Even Warren Buffet once said that: "in stocks you can easily predict the price, but its not like that when it comes to Forex".
I am not a trader professional, but within the past several months when I use simulators, I found it almost impossible to earn good money with forex. But how about Stock indexes (Like Dos Jones and Nasdaq 100 ,QQQQ...)? Well only for the last night according to the simulator I have won several thousends pips (by trading nasdaq 100, spi 200 and dow jones). You can now judge which one is better :)... whether forex or stock indexes.
Thaks
Answer
Man, you are right about the forex market, so hard to predict. Simulators are not handy forex tools for novices because the trader still has to know much of what he is doing. There is one major difference that separates the forex and stock indexes, a couple trillion dollars. Though, the waters are too deep for many, the forex market is definitely the way to go. I have been trading the forex successfully for the past seven months, the returns have been phenomenal. It doesn't get any better than earning daily interest on four hundred times my money. I would love to mentor and share more about what I have learned trading in the forex market. Drop me an email!
Best Regards
Chris
Man, you are right about the forex market, so hard to predict. Simulators are not handy forex tools for novices because the trader still has to know much of what he is doing. There is one major difference that separates the forex and stock indexes, a couple trillion dollars. Though, the waters are too deep for many, the forex market is definitely the way to go. I have been trading the forex successfully for the past seven months, the returns have been phenomenal. It doesn't get any better than earning daily interest on four hundred times my money. I would love to mentor and share more about what I have learned trading in the forex market. Drop me an email!
Best Regards
Chris
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How can I get benefactored into FreedomRocks or ForexForSmarties?
Posted by Ryanita
on , under
forex login
|
comments (0)
hipyro
I have the time and the skill but not the $s to get started.
Maybe someone all ready has a large account and could lend me some.
Or,
Maybe someone has the $s but not the knowledge and we could work together..
Or,
Any other thoughts on getting this loan?
I have ample feedback in ebay etc and currency exchange forums which I can show as a good start to earning others trust, all personal details / login details would be included.
I would consider it a loan (compounded until doubled - then refunded) and would only be trading the 2 safe pairs (400:1 10%) no yen or gbp.
I'm well studied and have been running demos all year so I know what I'm doing.
Reply to VP: Thanks for your answer.
You are incorrect.
You only need to know how FR / FFS works and how to run with their programs before starting, it's not like normal FX Trading.
Demos with IBFX are the same as live trading.
You need more $s to hedge correctly.
Thanks, but you obviously havn't looked into the systems I mentioned.
Answer
Hi,
Do you think that it is enough your experience 1 year on demo account?
I don't thik so. 1 year in forex it is just a little small step. You didn't counted psychological factor when you start real trading. Also you should count that demo accounts and real accounts operates little different especially if you trade with market orders.
And never trade with borrowed money.
For mini fx account you need just US$250-300
Good luck!
Hi,
Do you think that it is enough your experience 1 year on demo account?
I don't thik so. 1 year in forex it is just a little small step. You didn't counted psychological factor when you start real trading. Also you should count that demo accounts and real accounts operates little different especially if you trade with market orders.
And never trade with borrowed money.
For mini fx account you need just US$250-300
Good luck!
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 can I sell EUR/USD when I don't have any EUR?
Posted by Ryanita
on
Tuesday, January 21, 2014
, under
forex 6 major pairs
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comments (0)
Q. Let's say I have $10,000 in my account and try to sell 100EUR. If it's that you're change some of your dollars to EUR and then selling it, you end up having the same $10,000 in your account.
If it's that your broker uses EUR he already owns, then how can I calculate the margin in this case?
And if you know any sites where I can learn these basics in detail please let me know.
Thank you in advance.
If it's that your broker uses EUR he already owns, then how can I calculate the margin in this case?
And if you know any sites where I can learn these basics in detail please let me know.
Thank you in advance.
Answer
There's no conversion or change to anything in your account.
I trade the forex spot market (cash market), which is what you're referring to, but I also trade forex futures. Very similar, and easier to explain. Think of the EUR/USD pair as a commodity, like oil or gold or the Dow futures. With any of these futures contracts, you are betting on the change in price. There is no change or conversion to the commodity in your account.
The EUR/USD measures the exchange rate between the Euro and the US Dollar. Right now, it's at 1.3300. You are simply betting on the rise or fall of the EUR/USD pair; the change in the exchange rate. For every point change in the pair, you make/lose $12.50. If you go long the pair, and it rises 10 pts, you make $125.
The margin requirement for futures is going to vary between brokers, but for me it is $500/contract. Commission charge is $5.72 round trip. I get better fills with the futures, and futures are regulated by the SEC, while the forex spot market is run by the banks; unregulated.
http://www.ampfutures.com/index.php
Now, I'm going to switch back to the forex spot/cash market, so don't let me confuse you. Following is info about the forex cash market (not futures)
1.EUR/USD - Euro/U.S. Dollar
2.GBP/USD - Great British Pound/U.S. Dollar
3.USD/CHF â- U.S. Dollar/Swiss Franc
4.USD/JPY â- U.S. Dollar/Japanese Yen
5.USD/CAD â- U.S. Dollar/Canadian Dollar
6.AUD/USD - Australian Dollar/U.S. Dollar
7.EUR/GBP - Euro/Great British Pound
8.EUR/JPY - Euro/Japanese Yen
9.EUR/CHF - Euro/Swiss Franc
10.GBP/CHF - Great British Pound/Swiss Franc
11.GBP/JPY - Great British Pound/Japanese Yen
12.CHF/JPY - Swiss Franc/Japanese Yen
13.NZD/USD - New Zealand Dollar/US Dollar
14.EUR/CAD - Euro/Canadian Dollar
15.AUD/CAD - Australian Dollar/Canadian Dollar
16.AUD/JPY - Australian Dollar/Japanese Yen
17.EUR/AUD - Euro/Australian Dollar
NOTE: Of the above 17 currency pairs, six of them are deemed the âmajor currency pairsâ in the FOREX market because they account for about 80 percent of FOREX transactions:
1.EUR/USD - Euro/U.S. Dollar
2.GBP/USD - Great British Pound/U.S. Dollar
3.USD/CHF â- U.S. Dollar/Swiss Franc
4.USD/JPY â- U.S. Dollar/Japanese Yen
5.USD/CAD â- U.S. Dollar/Canadian Dollar
6.AUD/USD - Australian Dollar/U.S. Dollar
As you can see, there is a currency on the left and one on the right. The one on the left is referred to as the base, and the one listed on the right is known as the cross. The format, once again, is as follows. BASE/CROSS, or EUR/USD. The EUR is the BASE and the USD is the CROSS.
TERMINOLOGY:
â¢PIPS- Price Interest Point. This is the smallest unit price for any Foreign Currency.
â¢LOT- A lot of currency is one denomination for a trade (100K or mini account). This is similar to purchasing one stock or one contract in the futures market.
â¢LONG to buy
â¢SHORT to sell
â¢BID-The price at which you sell
â¢ASK-The price at which you buy
Price Interest Point - (PIP)
Profits are made in the FOREX by gaining PIPS. A pip is the last digit from the decimal point. This value is 1/100th of a cent. You may now be asking yourself, how do I make money off of 1/100th of a cent? The answer is leverage. The FOREX market is highly leveraged and should be respected. That said, it can also provide for a tremendous return on your investment. The average leverage in the FOREX is 100 to 1. Basically this indicates that for every dollar you invest in a trade you are controlling $100 of value.
Calculated PIP
Calculated PIP â shows the Price Interest Point (PIP) value for the selected currency pair based upon your trading account margin. For example, a standard 1 percent margin trading account controlling $100,000 in currency would show the EUR/USD with a PIP value of 10.
PIP VALUE-Fixed or Floating
FIXED- When the USD is the cross currency (right side of the pair), the PIP value is fixed at $10 in a 100k account.
FOATING- When the USD is the base currency (left side of the pair), the PIP value is based upon the exchange rate of the cross currency (i.e., USD/CAD.). Also, the PIP value is floating when the pair consists of foreign currencies (i.e., EUR/ GBP).
LOT
A lot is the normal unit of trading in the FOREX market. Trades are made in lot increments, similar to share increments in the stock market.
Standard (or 100k) FOREX account- has a 100:1 leverage ratio
1 LOT= $1,000 investment= ratio leveraged 100 to 1, which = $100,000 in buying power.
Mini FOREX account- has a 200:1 leverage ratio
1 LOT= $50 investment= ratio leveraged 200 to 1, which = $10,000 in buying power.
There's no conversion or change to anything in your account.
I trade the forex spot market (cash market), which is what you're referring to, but I also trade forex futures. Very similar, and easier to explain. Think of the EUR/USD pair as a commodity, like oil or gold or the Dow futures. With any of these futures contracts, you are betting on the change in price. There is no change or conversion to the commodity in your account.
The EUR/USD measures the exchange rate between the Euro and the US Dollar. Right now, it's at 1.3300. You are simply betting on the rise or fall of the EUR/USD pair; the change in the exchange rate. For every point change in the pair, you make/lose $12.50. If you go long the pair, and it rises 10 pts, you make $125.
The margin requirement for futures is going to vary between brokers, but for me it is $500/contract. Commission charge is $5.72 round trip. I get better fills with the futures, and futures are regulated by the SEC, while the forex spot market is run by the banks; unregulated.
http://www.ampfutures.com/index.php
Now, I'm going to switch back to the forex spot/cash market, so don't let me confuse you. Following is info about the forex cash market (not futures)
1.EUR/USD - Euro/U.S. Dollar
2.GBP/USD - Great British Pound/U.S. Dollar
3.USD/CHF â- U.S. Dollar/Swiss Franc
4.USD/JPY â- U.S. Dollar/Japanese Yen
5.USD/CAD â- U.S. Dollar/Canadian Dollar
6.AUD/USD - Australian Dollar/U.S. Dollar
7.EUR/GBP - Euro/Great British Pound
8.EUR/JPY - Euro/Japanese Yen
9.EUR/CHF - Euro/Swiss Franc
10.GBP/CHF - Great British Pound/Swiss Franc
11.GBP/JPY - Great British Pound/Japanese Yen
12.CHF/JPY - Swiss Franc/Japanese Yen
13.NZD/USD - New Zealand Dollar/US Dollar
14.EUR/CAD - Euro/Canadian Dollar
15.AUD/CAD - Australian Dollar/Canadian Dollar
16.AUD/JPY - Australian Dollar/Japanese Yen
17.EUR/AUD - Euro/Australian Dollar
NOTE: Of the above 17 currency pairs, six of them are deemed the âmajor currency pairsâ in the FOREX market because they account for about 80 percent of FOREX transactions:
1.EUR/USD - Euro/U.S. Dollar
2.GBP/USD - Great British Pound/U.S. Dollar
3.USD/CHF â- U.S. Dollar/Swiss Franc
4.USD/JPY â- U.S. Dollar/Japanese Yen
5.USD/CAD â- U.S. Dollar/Canadian Dollar
6.AUD/USD - Australian Dollar/U.S. Dollar
As you can see, there is a currency on the left and one on the right. The one on the left is referred to as the base, and the one listed on the right is known as the cross. The format, once again, is as follows. BASE/CROSS, or EUR/USD. The EUR is the BASE and the USD is the CROSS.
TERMINOLOGY:
â¢PIPS- Price Interest Point. This is the smallest unit price for any Foreign Currency.
â¢LOT- A lot of currency is one denomination for a trade (100K or mini account). This is similar to purchasing one stock or one contract in the futures market.
â¢LONG to buy
â¢SHORT to sell
â¢BID-The price at which you sell
â¢ASK-The price at which you buy
Price Interest Point - (PIP)
Profits are made in the FOREX by gaining PIPS. A pip is the last digit from the decimal point. This value is 1/100th of a cent. You may now be asking yourself, how do I make money off of 1/100th of a cent? The answer is leverage. The FOREX market is highly leveraged and should be respected. That said, it can also provide for a tremendous return on your investment. The average leverage in the FOREX is 100 to 1. Basically this indicates that for every dollar you invest in a trade you are controlling $100 of value.
Calculated PIP
Calculated PIP â shows the Price Interest Point (PIP) value for the selected currency pair based upon your trading account margin. For example, a standard 1 percent margin trading account controlling $100,000 in currency would show the EUR/USD with a PIP value of 10.
PIP VALUE-Fixed or Floating
FIXED- When the USD is the cross currency (right side of the pair), the PIP value is fixed at $10 in a 100k account.
FOATING- When the USD is the base currency (left side of the pair), the PIP value is based upon the exchange rate of the cross currency (i.e., USD/CAD.). Also, the PIP value is floating when the pair consists of foreign currencies (i.e., EUR/ GBP).
LOT
A lot is the normal unit of trading in the FOREX market. Trades are made in lot increments, similar to share increments in the stock market.
Standard (or 100k) FOREX account- has a 100:1 leverage ratio
1 LOT= $1,000 investment= ratio leveraged 100 to 1, which = $100,000 in buying power.
Mini FOREX account- has a 200:1 leverage ratio
1 LOT= $50 investment= ratio leveraged 200 to 1, which = $10,000 in buying power.
I am a 16 year old, wondering if I could invest in the stock market?
Eugene
Is FOREX trading better than stock trading?
How risky are they?
Answer
Check with some brokers to see what are the requirements/restrictions for a minor for trading. I won't say you can not, but I'm sure there are going to be several restrictions at minimum since you are in fact a minor.
I personally think FX is better. Why?
-The average daily dollar value traded on the NYSE is about $35-$40 billion, while the FX market avearges $2 trillion per day conservatively (they think it's actually more like $6 trillion per day).
- There are something like 1700 issues on the NYSE alone and around 40,000 worldwide, while in the FX there are 6 major currency pairs (there are more than that when you take the cross currency pairs, but the majority of trades happen in the 6 majors).
- Trades 24 hours a day. FX opens around 5pm EST on Sunday and doesn't stop till around 4 pm EST Friday.
- No commissions. The dealers make their money on the spread, which came be as little as 1 pip, depending on the currency pair.
- No restrictions on short selling, while in equities you have the Short sell rule, ie, you can only short on an up tick or zero plus tick.
- Higher leverage. Equities only offer 2:1 leverage, while in FX you can get as much as 400:1, depending on the broker. But beware, leverage is a double edge sword. As fast as you can make money with high leverage, you can also lose it just as fast.
- Demo accounts. One of the things I like about FX is their demo accounts. You use the exact trading platform that you'd use to execute real trades, but you're using fake money. It trades like the real thing so you get a great feel for how trades actually work.
There are other advantages of FX, but I can remember them all.
Now, what you must remember is that FX is MY preference. It doesn't mean it's better than equities, it's just that I prefer FX to equities. You must do your own due diligence to find out which one is better for you.
Many people mistakingly will say 1 investment is better than another. That's an erroneous way of thinking about it. The way that should be thinking about it is which investment is a best fit for the individual in question. A person with a low risk tolerance level's best fit would be in things like CD's and such, but a person with a high risk tolerance level would be a better match with FX or derivatives.
Only you can figure out which one is best for you, your personality, risk tolerance levels, temperment and goals. Best of luck in your quest.
Check with some brokers to see what are the requirements/restrictions for a minor for trading. I won't say you can not, but I'm sure there are going to be several restrictions at minimum since you are in fact a minor.
I personally think FX is better. Why?
-The average daily dollar value traded on the NYSE is about $35-$40 billion, while the FX market avearges $2 trillion per day conservatively (they think it's actually more like $6 trillion per day).
- There are something like 1700 issues on the NYSE alone and around 40,000 worldwide, while in the FX there are 6 major currency pairs (there are more than that when you take the cross currency pairs, but the majority of trades happen in the 6 majors).
- Trades 24 hours a day. FX opens around 5pm EST on Sunday and doesn't stop till around 4 pm EST Friday.
- No commissions. The dealers make their money on the spread, which came be as little as 1 pip, depending on the currency pair.
- No restrictions on short selling, while in equities you have the Short sell rule, ie, you can only short on an up tick or zero plus tick.
- Higher leverage. Equities only offer 2:1 leverage, while in FX you can get as much as 400:1, depending on the broker. But beware, leverage is a double edge sword. As fast as you can make money with high leverage, you can also lose it just as fast.
- Demo accounts. One of the things I like about FX is their demo accounts. You use the exact trading platform that you'd use to execute real trades, but you're using fake money. It trades like the real thing so you get a great feel for how trades actually work.
There are other advantages of FX, but I can remember them all.
Now, what you must remember is that FX is MY preference. It doesn't mean it's better than equities, it's just that I prefer FX to equities. You must do your own due diligence to find out which one is better for you.
Many people mistakingly will say 1 investment is better than another. That's an erroneous way of thinking about it. The way that should be thinking about it is which investment is a best fit for the individual in question. A person with a low risk tolerance level's best fit would be in things like CD's and such, but a person with a high risk tolerance level would be a better match with FX or derivatives.
Only you can figure out which one is best for you, your personality, risk tolerance levels, temperment and goals. Best of luck in your quest.
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where to get FREE Android Forex Signals?
Posted by Ryanita
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master t
I am looking for a free Forex Signal provider that I can use on the Android. They must be profitable! Please advise.
Answer
The only best free forex signal provider for android and windows is Scion Forex. They have a 80% win rate. I trade directly off my android and their app is amazing and free! Signals are accurate.
The only best free forex signal provider for android and windows is Scion Forex. They have a 80% win rate. I trade directly off my android and their app is amazing and free! Signals are accurate.
Has anyone traded ForEx? How did you do? What is a realistic rate of return assuming you know what your doing?
scotto des
I've done stocks and options and stuff like that. I was curious if it is worth my time to learn it.
Answer
Realistically, about 80%-90% of all traders blow out. This is not "investing" or "Buy and Hold." This is trading, and it takes skill, knowledge, and balls of steel. It is probably the most difficult thing you will ever encounter.
You can buy $100,000 worth of currency with $1,000 margin in a standard account. This would be the purchase of one standard lot, at 100:1 leverage. Or you can get 200:1 leverage in a mini account. Wo, how much trouble can we get into now?
Just because you "can" doesn't mean you "should" trade with this kind of leverage. Trading stocks with 2:1 leverage is considered risky.
What most people don't seem to realize, is that you don't have to trade with leverage at all. Just put $100,00 in your account, buy one lot, and you have zero leverage. Or put $10,000 into a mini account and buy one mini-lot, or $1000 and buy one micro-lot.
You can see that by controlling leverage, trading the Forex doesn't have to be any more risky than trading stocks or any other investment.
The same holds true with all or any futures contract. You decide how much leverage to use, and how much risk to accept.
You can accept the maximum leverage like most people looking to "get rich quick," and blow out like 80%-90% of all traders, or you can play it smart and ease into it slowly, starting with a simulator while you're learning, probably for at least six months.
I've traded stock index futures and options about fifteen years, but have only traded currencies a few months. A lot of the same principles apply, especially the "trading" techniques. Last month my account was up 42%, and the month before it was up 40%. This month, it is down sixteen percent.
Realistically, about 80%-90% of all traders blow out. This is not "investing" or "Buy and Hold." This is trading, and it takes skill, knowledge, and balls of steel. It is probably the most difficult thing you will ever encounter.
You can buy $100,000 worth of currency with $1,000 margin in a standard account. This would be the purchase of one standard lot, at 100:1 leverage. Or you can get 200:1 leverage in a mini account. Wo, how much trouble can we get into now?
Just because you "can" doesn't mean you "should" trade with this kind of leverage. Trading stocks with 2:1 leverage is considered risky.
What most people don't seem to realize, is that you don't have to trade with leverage at all. Just put $100,00 in your account, buy one lot, and you have zero leverage. Or put $10,000 into a mini account and buy one mini-lot, or $1000 and buy one micro-lot.
You can see that by controlling leverage, trading the Forex doesn't have to be any more risky than trading stocks or any other investment.
The same holds true with all or any futures contract. You decide how much leverage to use, and how much risk to accept.
You can accept the maximum leverage like most people looking to "get rich quick," and blow out like 80%-90% of all traders, or you can play it smart and ease into it slowly, starting with a simulator while you're learning, probably for at least six months.
I've traded stock index futures and options about fifteen years, but have only traded currencies a few months. A lot of the same principles apply, especially the "trading" techniques. Last month my account was up 42%, and the month before it was up 40%. This month, it is down sixteen percent.
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Help with Candlesticks in Forex Charts?
Posted by Ryanita
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Q. As far as I know, candlesticks show open quote and close quote during some time period. Then the open quote of a candlestick should exactly equal the close quote of the previous candlestick. But it doesn't. What am I getting wrong here?
Answer
The candlestick opened at the same price the previous one closed but in its fluctuation it moved higher or lower than the price it opened at, in the process it can go over that open price from higher to lower and/or vice-versa. So the end result of that candlestick -once fully formed- will appear to not graphically coincide or show the exact place where the previous one closed; but if you look closely it actually does.
Let's say the price in its fluctuation just went over the open to a higher quote, but after it reached that high -at which point you're looking at a colored filled candle- it started to come down (leaving a "wicker" or "shadow" behind) But then it fills again on its way down if/when/after it goes through the opening price. Example: Previous Close was 1.3400. New candle opens at 1.3400 and then goes up to 1.3423. But then proceeds to go down to a close of 1.3392 (leaving a shadow/wicker from the high at 1.3423) But when it goes through the opening @ 1.3400 it fills up in color again down to 1.3392. This change from wicker to color filled candle shows you the exact point where the previous close and next candle open price coincide.
Other than that beware that If you're just observing at small -and therefore faster- moving timeframe LIVE, like a 1 minute timeframe or even a 30 second one, it's not unlikely that you'll see a candlestick opening higher or lower than its previous close. This is so because you're witnessing the fast candlestick formation while it's happening giving you the impression of a discrepancy between the closing and opening price between the two candles. But this is not the case when you check the actual recorded data.
That's the only thing that occurs to me that you might be doing. If that's not the case then you should provide more info as to under what conditions this happened to you. Other than that just do some backtesting on any trading platform that shows you the Open- Close- High- Low on any candlestick and see the actual data for yourself.
The candlestick opened at the same price the previous one closed but in its fluctuation it moved higher or lower than the price it opened at, in the process it can go over that open price from higher to lower and/or vice-versa. So the end result of that candlestick -once fully formed- will appear to not graphically coincide or show the exact place where the previous one closed; but if you look closely it actually does.
Let's say the price in its fluctuation just went over the open to a higher quote, but after it reached that high -at which point you're looking at a colored filled candle- it started to come down (leaving a "wicker" or "shadow" behind) But then it fills again on its way down if/when/after it goes through the opening price. Example: Previous Close was 1.3400. New candle opens at 1.3400 and then goes up to 1.3423. But then proceeds to go down to a close of 1.3392 (leaving a shadow/wicker from the high at 1.3423) But when it goes through the opening @ 1.3400 it fills up in color again down to 1.3392. This change from wicker to color filled candle shows you the exact point where the previous close and next candle open price coincide.
Other than that beware that If you're just observing at small -and therefore faster- moving timeframe LIVE, like a 1 minute timeframe or even a 30 second one, it's not unlikely that you'll see a candlestick opening higher or lower than its previous close. This is so because you're witnessing the fast candlestick formation while it's happening giving you the impression of a discrepancy between the closing and opening price between the two candles. But this is not the case when you check the actual recorded data.
That's the only thing that occurs to me that you might be doing. If that's not the case then you should provide more info as to under what conditions this happened to you. Other than that just do some backtesting on any trading platform that shows you the Open- Close- High- Low on any candlestick and see the actual data for yourself.
Is there a site on the net where someone can view historical "after hours charts" ?
dee9051
There seems to only be sites for regular market trading hours quotes & charts. Are there any sites for historical quotes and "after hours charts" ???????
Answer
quotes.nasdaq.com/asp/MasterDataEntry.asp?page=After+Hours+Market
afterhourtrades.com
www.Forex.com
tradingday.com
quotes.nasdaq.com/asp/MasterDataEntry.asp?page=After+Hours+Market
afterhourtrades.com
www.Forex.com
tradingday.com
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Is there anything to learn before starting forex trading for success? Or it is totally depend on one’s fate?
Posted by Ryanita
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geeta g
Is there anything to learn before starting forex trading for success? Or it is totally depend on oneâs fate?
Answer
First you need to have a good basic knowledge of forex trading before you can start.
Then you should try some of the aids available. These are systems that can help you a lot such as signal generators. They help to control your risks as well. Practice on them until you are comfortable that they work for you.
To some extent, luck plays a part but I think it's more from experience and prudence. At least in the longer term, these will help you more than luck.
First you need to have a good basic knowledge of forex trading before you can start.
Then you should try some of the aids available. These are systems that can help you a lot such as signal generators. They help to control your risks as well. Practice on them until you are comfortable that they work for you.
To some extent, luck plays a part but I think it's more from experience and prudence. At least in the longer term, these will help you more than luck.
Can you share your simple forex trading strategy system?
hisoka147
If you have a simple forex trading strategy that is very easy to understand kindly share it please. No commercial products.
Answer
Asking people for a simple Forex strategy is like asking people if they have a simple method for playing poker that will allow you to win playing poker experts. There is no simple Forex strategy that works.
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 using a "simple" strategy.
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.
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.
Asking people for a simple Forex strategy is like asking people if they have a simple method for playing poker that will allow you to win playing poker experts. There is no simple Forex strategy that works.
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 using a "simple" strategy.
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.
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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