Hi there I am wondering if where to get forex news immediately. I currently use Forex Factory calendar to get updated and trade the news asap. But most of the time, the news shared is not fast enough

I really appreciate the work done by Forex Factory but I wish to ask if someone knows which is fastest to get forex news. Please give suggestions of either free or paid services. I am just interested to know.

Thank you

Answer
I think Bloomberg and roiters provide the best services right now.

If you want unpaid services I think the best way is to open an account with forex.com and use their trends.
I think the minimum amount needed is 50 S and you do not have an obligation to trade.

I will post quotes on my website www.freenotpaid.com in a couple of days. For now i have just online movies.

AUTO TRADING SOFTWARE FOR NSE(INDIA)?

auto trading of forex and stocks is very common outside India,but trading terminals in India does not support auto trading.However it is learnt that a software is developed ,which establishes interface with trading terminals( named PIB) making auto trading possible.I want to use software which can help me in putting orders in PIB in auto mode.

Answer
FOREX is a high risk investment. You can win alot of money, on the other hand you can also lost alot of money within aday.

I would say, Trading System is the key factor to win forex. you can learn more at forex*factory.com or baby*pips.com

You have read A LOT of books and spoken to a lot of traders (not just forex, options, futures, cfds etc) and all the successful ones say the same things.


Hottest Auto Forex Trading System Blog
http://www.spicyforex.com

I am an Indian resident.I am in to online forex trading with a foriegn broker. Say if I have a profit of 1 crore in the forex account abroad.Do I need to pay tax in India for that 1 crore? or If I transfer 20 lakh to my Indian savings bank account in a financial year from the forex account abroad, What will be my taxable income ?? 1 crore or 20 lakh ??

Answer
Say in different way:: If you eput 100 USD onto forex account and after a trade you decided to pay out 90 USD from your forex account you did not earn any extra money (you did not generate any profit). No profir= no tax. But if you used this same amount of money (100 dollars) and you earned 200 and you decided to pay out 200 and you left on forex account your 100 still, you should pay tax, because if you got more money that you paid in - this is your income. If you had 100 USD on forex account and now you have 101 it means you earned 1 USD and you must pay tax from 1 USD in your country after transfering money to a bank. If your country takes 30% tax from the income you should pay 30 cents tax. But I think money on the forex account is safe - as long as you have the money there - you can treat it as your investment (not as loss or income). The income is when you take more money out of the account. Is that logic? Be careful. Some governments may wish to take your money (as a tax) even when you did not finished your trade (for example tax from each plus transaction you finished on forex - but this is unfair -when the money is still in trade they are not allowed to take any money from you. Forex is not like a shop where you generate profit with each sale. Forex is like a bank - bank counts tax as a yearly income from your earning multiplied by days. In forex nothing is stable and not all transactions will be profitable. Therefore governements should not be allowed to ask for any money when the money is on the forex account (even if you earned 1000USD). Example : I have done trade on forex and opened many short transactions. Everything was good and I secured them by opposite long transactions. For month I invested 12000 pounds and my profit was 3000-5000 pounds. But this money was still invested. One day I was not carefull and I was bored with the situation and decided to unblock some of the secure transactions to make big profit quick. But only because I unblocked to many opposite transactions - my balance soon was ruined and I have lost all. (I was not pacient enough). No country can ask me for a tax because there was not profit at the ened. But also for example one month earlier they were not entitled to ask for the tax when the transactions has been opened still. I am not shure how is in your country. Be carefull.

Forex trading?

What are the risk of trading currency with Forex trading? I live in China, but wants to try trading currency with Forex. One of the operator asked me to send the money across to them in USA and start trading in minutes time. I don't know much about currency trading but they said they will offer me a course to get me started. Do I engage in this business?

Answer
Like everyone else has said you need to take your time when deciding to trade the Forex market. That being said, if you are willing to learn how to trade it properly and are patient you can make money even with a small ($5000) account.

You will need to set strict money management rules, that is how much to place on each trade, how much you are willing to lose on each trade and how much profit you are happy to take on each trade.

Greed can do funny things and a winning trade can end up a loosing trade.

Follow these 10 steps

1. Get access to and read as much free information as possible

2. Download free Forex Charts

3. Take some Forex courses

4. Test and trial a couple of different forex strategies to determine which is best for your personality. Donât rush this stage as you will really get to know yourself, how you react to loss, greed, fear and you will come to an understanding of how much time you really want to commit to your trading.

5. Open a demo account with an online forex broker, and start with a conservative amount in your account between $5000 and $10,000.

6. Simulator trade for between about 3 months

7. Open a Mini-Forex Account and fund with a conservative amount of money, between $300 - $2000.

8. Build your confidence by taking small amounts from the market consistently.

9. Throughout this whole process develop a trading plan that will consist of
a. What size your real trading account will be
b. How much you will trade each time
c. What timeframes you will trade
d. How much you will risk each trade

10. Trading for Real - Start trading a real account and continue to monitor and track your progress, recognising that you are a continual learner.


You can learn more from the free course at http://www.my-forex-training.com/FreeCourseSignUp.html

Q. Risk in Forex Investment?

Answer
Forex is a highly volatile market and predicting its movements can be impossible at times. No one can predict entirely how the market will move? That is the main reason why it has a high speculation rate to it.
Definitely if you go buy studying the past trends and patterns of the market, you can still make out roughly about the market movements, but certainty is not possible. Fluctuations in the currency exchange prices or rates can affect your trade or deals. The market can move in favor or against you any time, resulting in possible profit or loss.

Frauds or Scams

Forex is a highly potential market for frauds and scam artists. Although the market is significantly safer and cleaner to trade now, than it was a few years ago, care should still be taken while dealing with a broker. Always check the documents before signing any contract and read the terms and conditions fully. Being vigilant is the key to safe trading. Also, always prefer to deal with professional brokers who are attached to reputed financial firms and banks. Also, registered brokers such as those listed with the Commodities Futures Trading Commission or the National Futures Association should be preferred.

Also, beware of any brokers or financial firms offering too good schemes or deals, with very low or no risk trading guarantees. The brokers claiming to offer higher returns should also be thoroughly checked before signing up with them and starting to trade.

All the above mentioned risks can be avoided by keeping into consideration that any of this can happen to you while trading. Keeping this in mind will keep you prepared about the consequences that you can face and hence, help you make wiser and informed trading decisions.

Although we know by now that Forex is a risky business, there are a few measures, which have been created to limit, if not completely stop, a traderâs financial risks.

Firstly, every investor should try and develop his/her own trading strategy. Be it technical, fundamental, or both, every trader needs to follow a strategy which logically backs the trading decisions that he is making. All the market trading should be done using the money which you can afford to lose, not affecting your home finances, in case the market decides to go against you. Also clearly mark your entry and exit points with every deal you make.

Along with the entry and exit points, a trader also needs to posses thorough knowledge about the past trends of the market. How to make graphs, how to study the financial graphs and how to read, understand and aptly interpret the indicators and chart movements correctly is very important.

There is a huge amount of information available easily these days on this 24 hour market, but what needs to be taken into consideration is the information which is relevant, to our trade.

How to get started Forex Trading?

Im looking for people who have expericence in Forex, and the best way to get started. Do you start at the bank? A brokerage? Please no advertisements or scams, only ppl who are good at investing and managing their own finances. Oh, and I don't really need any special software, i'm pretty good with web services, and I can grab my own charts and other info

Answer
First of all the Forex market is very complex and you could spend years trying to study the market, and even at that most people end up loosing all their money within the first couple months of investing. With that being said after trying just about every Forex program, signal service, indicator, etc, and trying to read charts and study graphs and loosing a lot of capital I almost gave up on the market entirely until I accidently came across the FreedomRocks system. It's a very safe hedging strategy, does 95% of the work, and takes about 15-30 minutes to manager per week. Do some research online and you'll find a lot of great feedback about it.

Best Regards,

Brandon Wells
877-773-5345

Answer
right here

(use 'instruments' for other currency choices)

http://www.forex-markets.com/webcharts.htm

Forex Brokers or x brokers I want to know what the truth is with forex brokers?

Spreads surging, EA's allowed or looked down upon, dealing desk messing with trades, taking stops out, re-quotes.
What is the deal? Please give me the truth on all this.
Just so I can decide if I want to do it anymore or not.
What really goes on on the other side of the MT4 ?
Any input is appreciated and your identity is stealth
Come on guys...answer up...
Let's get the real story !!!

Answer
After some information gathering, I have a feeling every forex broker is evil since we have conflicting interests. They trade against us. They wish us to lose. They make many fabrications in order to deceive you, and so on.

list all the reasons why the claim is valid

False Advertising & Fabrications: - "No commissions" is plainly deceiving
Brokers deceive you about there being no commissions. $30 minimum/round turn (called the spread) is in reality a commission that eats up your capital at an astonishing rate. Even winning traders lose money and end up with negative results because of this outlandish overhead. Trading futures, you should never have to pay a broker more than $10/round turn, and usually quite a bit less than that.

- The truth about guaranteed fills: True but¡K The only way a broker can guarantee fills is for the broker to become the buyer or seller of last resort. That means the broker is running a bucket shop. All forex brokers are the buyer and seller of last resort.

- Lying about the volume: Brokers do not tell the truth about volume. They show the volume for all forex trading, which doesn't even come close to the volume they truly have at their own brokerage, which is where you are trading. Volume in currency futures is considerably higher than the volume traded at any single forex broker, often greater by a factor of ten.

Defraud of your money

- Leaning: Brokers say they are charging you a 3 pip spread to trade the popular currency pairs. But in reality a broker may be making as much or more than 10 pips on your trades. He does this by skewing prices. Since you are not trading at an exchange, the broker can feed you any price he wants to feed you. He can buy at the bank for perhaps 7 pips less than he sells to you. He then charges you 3 pips for the privilege of being ripped off for a total of 10 pips.

- Skewing price quotation
What is the true price? A forex broker can only give you the price of a currency as quoted to him by the bank through which he trades. Banks have differing prices for a currency. You never know what the real price is because there is no central exchange through which all prices flow. Besides not knowing the true price from the bank, you can also be deceived by "leaning" or "skewing" of the real price at the bank. Forex brokers commonly lean the prices.

- Immoral Stop Running/Hunting
You are told by forex brokers that there is little or no stop running. This is one of their biggest and boldest fabrications. The truth is there is far more stop running in forex than in futures, and possibly as much stop running as in the stock market. I have friends who work in forex as well as many traders who of necessity have to trade forex. One of my students is a market maker in forex. These are people who should know, but in case you don't want to believe me or them, simple observation of forex trading will reveal the vast amount of stop running that takes place there. Who is it that runs the stops? Why it is your friendly forex broker. The broker has a vested interest in seeing to it that your orders are filled. Stop running is nothing more than order filling. The broker sees to it that everybody's order gets filled.

- Wipe you out by "false" spike: Sometimes, there's very quick spike in candlestick on a broker's chart, but there is nothing happening on the others' chart. A stop-loss is triggered simply due to that suspicious spike.

- ban you if you can win their money: Probably you have heard that if you are winning regularly in forex, you may be barred from trading. Is this true? Yes it is. The fact that it is true is just another proof that when you trade forex you are trading at a bucket shop. In the book, "Reminiscences of a Stock Operator," we are told that Jesse Livermore was banned from trading at certain stock brokers because they couldn't stand him beating the house. The same thing is true with many forex brokers. Since they are the ones guaranteeing you a fill, they are in effect the buyer and seller of last resort. The truth is that most forex brokers have precious little liquidity at their firms. In order to give you the impression that there is liquidity, it is the broker who gives you your fill. It is the broker who does the stop running that supposedly doesn't exist in forex. But if you are regularly beating the socks off the broker, he will ban you from trading at his firm.

Potential Danger about Forex Brokerage Firms
- Unregulated: Forex may sound like an exchange but it isn't. It exists entirely in cyberspace with every broker and every bank having different prices for any particular currency. There is little or no regulation, even for brokers who register with the CFTC and the NFA. Forex brokers do not have to mark to market each day as do futures brokers. If your forex broker files for bankruptcy or absconds with your money you have zero recourse.

- No guarantee: If

Answer
Forex Trading Tips â Part 1
Why do hundreds of thousands online traders and investors trade the forex market every day, and how do they make money doing it?
This two-part report clearly and simply details essential tips on how to avoid typical pitfalls and start making more money in your forex trading.


1.Trade pairs, not currencies â Like any relationship, you have to know both sides. Success or failure in forex trading depends upon being right about both currencies and how they impact one another, not just one.

2.Knowledge is Power â When starting out trading forex online, it is essential that you understand the basics of this market if you want to make the most of your investments.
The main forex influencer is global news and events. For example, say an ECB statement is released on European interest rates which typically will cause a flurry of activity. Most newcomers react violently to news like this and close their positions and subsequently miss out on some of the best trading opportunities by waiting until the market calms down. The potential in the forex market is in the volatility, not in its tranquility.

3.Unambitious trading â Many new traders will place very tight orders in order to take very small profits. This is not a sustainable approach because although you may be profitable in the short run (if you are lucky), you risk losing in the longer term as you have to recover the difference between the bid and the ask price before you can make any profit and this is much more difficult when you make small trades than when you make larger ones.

4.Over-cautious trading â Like the trader who tries to take small incremental profits all the time, the trader who places tight stop losses with a retail forex broker is doomed. As we stated above, you have to give your position a fair chance to demonstrate its ability to produce. If you donât place reasonable stop losses that allow your trade to do so, you will always end up undercutting yourself and losing a small piece of your deposit with every trade.

5.Independence â If you are new to forex, you will either decide to trade your own money or to have a broker trade it for you. So far, so good. But your risk of losing increases exponentially if you either of these two things:
Interfere with what your broker is doing on your behalf (as his strategy might require a long gestation period);
Seek advice from too many sources â multiple input will only result in multiple losses. Take a position, ride with it and then analyse the outcome â by yourself, for yourself.

6.Tiny margins â Margin trading is one of the biggest advantages in trading forex as it allows you to trade amounts far larger than the total of your deposits. However, it can also be dangerous to novice traders as it can appeal to the greed factor that destroys many forex traders. The best guideline is to increase your leverage in line with your experience and success.

7.No strategy â The aim of making money is not a trading strategy. A strategy is your map for how you plan to make money. Your strategy details the approach you are going to take, which currencies you are going to trade and how you will manage your risk. Without a strategy, you may become one of the 90% of new traders that lose their money.

8.Trading Off-Peak Hours â Professional FX traders, option traders, and hedge funds posses a huge advantage over small retail traders during off-peak hours (between 2200 CET and 1000 CET) as they can hedge their positions and move them around when there is far small trade volume is going through (meaning their risk is smaller). The best advice for trading during off peak hours is simple â donât.

9.The only way is up/down â When the market is on its way up, the market is on its way up. When the market is going down, the market is going down. Thatâs it. There are many systems which analyse past trends, but none that can accurately predict the future. But if you acknowledge to yourself that all that is happening at any time is that the market is simply moving, you'll be amazed at how hard it is to blame anyone else.

10.Trade on the news â Most of the really big market moves occur around news time. Trading volume is high and the moves are significant; this means there is no better time to trade than when news is released. This is when the big players adjust their positions and prices change resulting in a serious currency flow.

11.Exiting Trades â If you place a trade and itâs not working out for you, get out. Donât compound your mistake by staying in and hoping for a reversal. If youâre in a winning trade, donât talk yourself out of the position because youâre bored or want to relieve stress; stress is a natural part of trading; get used to it.

12.Donât trade too short-term â If you are aiming to make less than 20 points profit, donât undertake the trade. The spread you are trading on will make the odds against you far too high.

13.Donât be smart â The most successful traders I know keep their trading simple. They donât analyse all day or research historical trends and track web logs and their results are excellent.

14.Tops and Bottoms â There are no real âbargainsâ in trading foreign exchange. Trade in the direction the price is going in and youâre results will be almost guaranteed to improve.

15.Ignoring the technicalsâ Understanding whether the market is over-extended long or short is a key indicator of price action. Spikes occur in the market when it is moving all one way.

16.Emotional Trading â Without that all-important strategy, youâre trades essentially are thoughts only and thoughts are emotions and a very poor foundation for trading. When most of us are upset and emotional, we donât tend to make the wisest decisions. Donât let your emotions sway you.

17.Confidence â Confidence comes from successful trading. If you lose money early in your trading career itâs very difficult to regain it; the trick is not to go off half-cocked; learn the business before you trade. Remember, knowledge is power.







Forex Trading Tips â Part 2
Why do hundreds of thousands online traders and investors trade the forex market every day, and how do they make money doing it?
The second and final part of this report clearly and simply details more essential tips on how to avoid the pitfalls and start making more money in your forex trading.
1.Take it like a man â If you decide to ride a loss, you are simply displaying stupidity and cowardice. It takes guts to accept your loss and wait for tomorrow to try again. Sticking to a bad position ruins lots of traders - permanently. Try to remember that the market often behaves illogically, so donât get commit to any one trade; itâs just a trade. One good trade will not make you a trading success; itâs ongoing regular performance over months and years that makes a good trader.

2.Focus â Fantasising about possible profits and then âspendingâ them before you have realised them is no good. Focus on your current position(s) and place reasonable stop losses at the time you do the trade. Then sit back and enjoy the ride - you have no real control from now on, the market will do what it wants to do.

3.Donât trust demos â Demo trading often causes new traders to learn bad habits. These bad habits, which can be very dangerous in the long run, come about because you are playing with virtual money. Once you know how your brokerâs system works, start trading small amounts and only take the risk you can afford to win or lose.

4.Stick to the strategy â When you make money on a well thought-out strategic trade, donât go and lose half of it next time on a fancy; stick to your strategy and invest profits on the next trade that matches your long-term goals.

5.Trade today â Most successful day traders are highly focused on whatâs happening in the short-term, not what may happen over the next month. If youâre trading with 40 to 60-point stops focus on whatâs happening today as the market will probably move too quickly to consider the long-term future. However, the long-term trends are not unimportant; they will not always help you though if youâre trading intraday.

6.The clues are in the details â The bottom line on your account balance doesnât tell the whole story. Consider individual trade details; analyse your losses and the telling losing streaks. Generally, traders that make money without suffering significant daily losses have the best chance of sustaining positive performance in the long term.

7.Simulated Results â Be very careful and wary about infamous âblack boxâ systems. These so-called trading signal systems do not often explain exactly how the trade signals they generate are produced. Typically, these systems only show their track record of extraordinary results â historical results. Successfully predicting future trade scenarios is altogether more complex. The high-speed algorithmic capabilities of these systems provide significant retrospective trading systems, not ones which will help you trade effectively in the future.

8.Get to know one cross at a time â Each currency pair is unique, and has a unique way of moving in the marketplace. The forces which cause the pair to move up and down are individual to each cross, so study them and learn from your experience and apply your learning to one cross at a time.

9.Risk Reward â If you put a 20 point stop and a 50 point profit your chances of winning are probably about 1-3 against you. In fact, given the spread youâre trading on, itâs more likely to be 1-4. Play the odds the market gives you.

10.Trading for Wrong Reasons â Donât trade if you are bored, unsure or reacting on a whim. The reason that you are bored in the first place is probably because there is no trade to make in the first place. If you are unsure, itâs probably because you canât see the trade to make, so donât make one.

11.Zen Tradingâ Even when you have taken a position in the markets, you should try and think as you would if you hadnât taken one. This level of detachment is essential if you want to retain your clarity of mind and avoid succumbing to emotional impulses and therefore increasing the likelihood of incurring losses. To achieve this, you need to cultivate a calm and relaxed outlook. Trade in brief periods of no more than a few hours at a time and accept that once the trade has been made, itâs out of your hands.

12.Determination â Once you have decided to place a trade, stick to it and let it run its course. This means that if your stop loss is close to being triggered, let it trigger. If you move your stop midway through a tradeâs life, you are more than likely to suffer worse moves against you. Your determination must be show itself when you acknowledge that you got it wrong, so get out.

13.Short-term Moving Average Crossovers â This is one of the most dangerous trade scenarios for non professional traders. When the short-term moving average crosses the longer-term moving average it only means that the average price in the short run is equal to the average price in the longer run. This is neither a bullish nor bearish indication, so donât fall into the trap of believing it is one.

14.Stochastic â Another dangerous scenario. When it first signals an exhausted condition thatâs when the big spike in the âexhaustedâ currency cross tends to occur. My advice is to buy on the first sign of an overbought cross and then sell on the first sign of an oversold one. This approach means that youâll be with the trend and have successfully identified a positive move that still has some way to go. So if percentage K and percentage D are both crossing 80, then buy! (This is the same on sell side, where you sell at 20).

15.One cross is all that counts â EURUSD seems to be trading higher, so you buy GBPUSD because it appears not to have moved yet. This is dangerous. Focus on one cross at a time â if EURUSD looks good to you, then just buy EURUSD.

16.Wrong Broker â A lot of FOREX brokers are in business only to make money from yours. Read forums, blogs and chats around the net to get an unbiased opinion before you choose your broker.

17.Too bullish â Trading statistics show that 90% of most traders will fail at some point. Being too bullish about your trading aptitude can be fatal to your long-term success. You can always learn more about trading the markets, even if you are currently successful in your trades. Stay modest, and keep your eyes open for new ideas and bad habits you might be falling in to.

18.Interpret forex news yourself â Learn to read the source documents of forex news and events - donât rely on the interpretations of news media or others.

What is Forex Trading?

Answer
This short introduction explains the basics of trading Forex online, a brief explanation of the markets and the major benefits of trading Forex online. There are also two scenarios describing the implications of trading in a bear as well as bull market to better acquaint you with some of the risks and opportunities of the largest and most liquid market in the world.


As an additional aid for those who are new to Forex, there is also a glossary at the bottom of this text which explains some of the terms used in connection with currency trading.

Overview
Foreign exchange, forex or just FX are all terms used to describe the trading of the world's many currencies. The forex market is the largest market in the world, with trades amounting to more than USD 1.5 trillion every day. This is more than one hundred times the daily trading on the NYSE (New York Stock Exchange). Most forex trading is speculative, with only a few percent of market activity representing governments' and companies' fundamental currency conversion needs.
Unlike trading on the stock market, the forex market is not conducted by a central exchange, but on the âinterbankâ market, which is thought of as an OTC (over the counter) market. Trading takes place directly between the two counterparts necessary to make a trade, whether over the telephone or on electronic networks all over the world. The main centres for trading are Sydney, Tokyo, London, Frankfurt and New York. This worldwide distribution of trading centres means that the forex market is a 24-hour market.

Happy Holidays !

Answer
Forex reserves are foreign exchange reserves, or foreign currency deposits held by central banks and monetary reserves.
The country with the most forex reserves at the present time is China.

why india has more forex reserves as compared to the US.?

mean to say that what is the source for foreign currency.
please elaborate on that?

Answer
There are two main sources for foreign currency reserves: a) export earnings of Indian companies b) foreign investment coming into India.

When these dollars come in, they are selling dollars and buying INR to invest in India. This will cause the INR to appreciate in value. To prevent it from appreciating too much the Reserve Bank of India supplies INR in exchange for USD in the foreign exchange market. Thus, the RBI ends up accumulating reserves as a result of this policy.

The USD is a free-floating currency, whose value is set by FX markets. The government does not intervene in the FX markets. So, the US does not accumulate reserves. Another point, indirectly related to your question is this: Being the world's major reserve currency, the US borrows in its own currency, which it can always print.

Answer
Here is some unorthodox forex trading strategies:

1. The Sidus Method
2. Murrey Math
3. 4 Hour MACD Strategy
4. Mouteki System

http://tradinglib.com/category/trading-strategies

Success in Forex? is it possible?

have u been successful in forex? what it takes to be successful? i am begiiner trader in forex.

Answer
I've lost in forex, but I've only just started and I've learnt some important lessons already. Here's my experience:

1. I bought too high. I bought AUD at 1.02. WIthin a day it fell to 1.01, and within a few more days it was down to .97. I was kicking myself for buying so high, because a week earlier it was only .91 and I thought it would keep rising to 1.10. I'm sure it will reach 1.10 when the financial panic settles, but I bought with leverage so I can't afford risking huge price fluctuations.

2. I wanted to buy more when it fell to a bargain price (eg. at .96), by my money was stuck in my 1.02 buy so I couldn't do anything until it rose to 1.02.

3. I ended up selling at a loss of 1.005.

4. Another reason I lost was because I changed my trade strategy after buying. If you have lots of time and have an undervalued currency then you don't have to worry, it'll go up eventually even if it takes a few years. But if you're going to trade on a daily basis then you'll see how many opportunities you've lost while you're seeing it fluctuate at ridiculously low prices while you're stuck too high to be able to sell it.

5. Stick to an undervalude currency. The GBP and AUD are still very cheap buys at the moment if you're in it for the long-run.

6. If you're buying for the short-term, observe the market for a few days to see how much it tends to moves and at what times. I've noticed the AUD moves in the same way as the world's stocks, mainly around the morning of EST.

7. Forex still has risks because it can drop a very large amount unexpectedly (AUD has dropped 30% in value over the past few months). But it won't drop as far as stocks, it's the world's most liquid market (24 hours a day, 5 days a week), and you're buying money which you can always use.

8. Being a 24-hour market, there are plenty more buying and selling opportunities than stocks. But it also means whenever you're away from the computer, anything could happen and you might miss opportunities or find yourself in a great loss. I went to sleep with the value being 0.98, I woke up a few hours later and it was 1.003. It's impossible to be up 24-hours a day, but it also gives you plenty more buying and selling opportunities too.

9. Forex is usually done using lverage. If you do leverage of 1:20, you can put in $5,000 and you've given $100,000 to play with. If you have two currencies that are approximately 1:1, each time you sell by 0.005 or 0.5% rise you'll get approx. $500 (less commissions). Sometimes this only take a minute to achieve.

10. I prefer forex to stocks. The gains are less but the risks are also less.

11. Be patient before throwing your money in, unless a currency's at a ridiculous low that you know must go up. Spend a few days observing and you'll figure out yourself how the whole thing works.

all im looking for is to make 30 pips a day consistently. i tried so many methods but it simply does not work.

Answer
30 pips a day is unrealistic, Forex is marketed as all you need is 20 pips a day compounded and in year you're a millionaire, unfortunately every trader who lasts the course knows this is not true. For you to get 30 points a day your trading method has to be perfect, your discipline perfect, your money management perfect, your timing perfect, your emotions zero.
Re-prioritise your pip goal . Develop a time-frame and trading plan that you understand, a method that is yours. Don't invest in robots.
You might discover day trading does not suit your personality. You might find those methods that didn't work do better on a weekly time-frame or on a different pair, but you have to work on your Trading Plan and how you want to trade.


Good luck, it's frustrating game even when you become experienced, unfortunately there are no easy short cuts.

How the forex trading (iFOREX) is reliable and how much can some1 earn from it ?

Hi All:

I have been contacted by an account manager of forex trading company iForex and I was suggested that if would join their team I can earn around $1000 per month.

Can someone please guide how these sites are reliable and what about the FOREX trading business and how this compnay (iFOREX) is also relaible if anybody knows it personaly or earning anything from it.

Answer
Playing Forex can appear alluring, but the majority of people who try it lose money. All you have to do is do a web search on the words "Forex" and "lose" to see this is the consensus.

Forex is what we call a "zero sum" game. You are making a bet with someone else about whether a currency will rise or fall. For every winner there has to be a loser. If you are smarter than the average player, you may make money. If you are dumber than the average player, you are likely to lose money. Most of the people making the "bets" in Forex are highly trained professionals at banks and other institutions. You are unlikely to beat them at this game.

Actually Forex is not quite a zero sum game. It's a slightly negative sum game as the Forex broker takes a small percentage each time in the spread. It's a small amount but over a hundred trades, it ends up being a considerable amount of money. So the average player is likely to lose money, and remember the average player is a highly trained professional and probably smarter than you.

There is a lot of luck in Forex, and if you play it, you will have some periods of time where you make money. This is usually because you are having a lucky streak, not because you have suddenly become an expert Forex player. However, most people are unwilling to admit their success is due to luck. They become convinced they have a system that works, and lose a lot of money trying to refine it.

Further complicating the problem is the large number of Forex scams on the internet. Most Forex websites are of questionable honesty. You will find many people on the Internet that claim they made a lot of money using Forex. They are usually liars trying to make money. They will say: "Go to Forexcrap . com/q2347." The "q2347" is a signal to the Forexcrap site that you are being referred to them by "q2347." If they sell something to you, "q2347" gets a kickback. These coded signals can be hidden by different methods in the link. Other people will refer you to their own private website or blog for the purpose of trying to get money off you. Also there are a good number of trolls out there that like to pretend they are successful forex traders just for the fun of it.

I would recommend not trying to do Forex at all, unless you are a trained professional. It's like playing poker with people better than you, with the house constantly taking a small percentage from the pot.

I heard about Forex trading, but i really don't know much about it... for example, i am individual and i want to buy stocks in some companies.. Do i have the control in my stocks (like determining the time to buy or sell stocks) or it is only in the hands of the Forex company?... How about others like Gold?
Ok, let me make it clear... lets say i want to trade in stocks.. how can i do that? do i have to find a company to trade for me? but in this case, my stocks will be totally in the hand of the company.. how can i take control of my stocks (like buy or sell them) whenever i want?
Also, i also want to know if i want to sell all my stocks in specific company?
Can i do that by myself ? i mean what is the relation ship between the investor and the stocks company?

Answer
Forex trading and stock trading are completely different. Forex is gambling based on changes in geopolitics deemed likely to influence perceived currency values.

Stock trading is based o your purchase and/or subsequent selling of positions in individual companies. I trade (buy, sell or both) daily throughout the week but never bet in favor of or against currencies.

You can buy gold stocks on the stock market and Forex won't be your passport.

Len

Relationshiop Of Gold with US dollar?

can any one tell me is Gold has any relationship with US Dollar while we trading in forex in other words when Gold up can dollar of usd decline or also up any relationship

Answer
Gold has a safe haven status. It is used to hedge against a weaker dollar. Normally when dollar gets weak gold gets stronger, infact this use to be so in older days. Gold is not really living up to its safe haven status anymore. The inverse relationship between gold and the dollar is no longer an obvious given, as there are many other highly liquid assets out there that are just as safe, and even safer than gold whose value can just be as manipulated by central banks as the dollar value. But I will tell you something - at this point in time we are on uncharted territory. The currency markets are in for some rocky times ahead. Right now, and for the last few years, golds movement correlates with the stock markets movement. And the inverse relationship between gold and dollar is fading. What I am seeing today is a weak dollar against or vs strong other markets and not just gold.

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

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

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

thanks

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

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

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

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

For me "All stocks are equally worthlessâ

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

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

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

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

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

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

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

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

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

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

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

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

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

"What is your best advise?

I will say:

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

www.onehourtrading.com

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

Besides, you´ll learn:

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

All this and a lot moreâ¦

Good luck and good trading,

John Fontaine

I've looked at Yahoo Finance and found stock charts but not Commodities...I need spot charts for energy, metals, grains and livestock that I can embed in my site.
Any suggestions?

Answer
you can see it if you sign up for one of the companies (fxdd,wwm,forex) but from the experience i can tell you that the feed is proprietary and no one will let you publish it to your site without a large fee.

i want to setup an data vending service for stock forex and comodities for that i?

need an downloader so that i can offer that downloader to my clients which then can download the quotos from my server can u suggest me anyone who can make an custom downloader for me

Answer
Have you paid for a data feed from each of the exchanges? Have you paid for a license to redistribute this data? If not, then nobody can help you.

On line forex trading , how profitable is it? How does it work?

Answer
Actually, most all Forex trading is accomplished online. There is no physical location like the CBOT where traders man the "pits" and actually shout out buy and sell orders.

The Forex market is the largest financial marketplace in the world with over $1.9 trillion in transactions everyday. The market is open 24 hours a day / 6 days a week. Until fairly recently the Forex market was the exclusive domain for investment bankers, institutions, corporations, world banks and big money players. Participation in the Forex market is now open to anyone, which is why you are currently hearing all the buzz about Forex.

It is quite possible to make a very good return on your investment by participating in the Forex arena....it is also quite possible to lose all your money if you do not know what you are doing. Too many people gamble their money away treating the Forex market as though it was a table in Las Vegas. They just guess which way the market will move and most often lose all their money due to lack of knowledge, fear, greed, lack of money management skills ...or all four.

Taking a conservative approach and reducing your risks with strategies such as carry trades and hedging one can make a consistent monthly rate of return far in excess of what banks pay annually. (The interesting thing is that this is where the banks place YOUR money). They love to earn 30% and pay you 5%.

May all your guesses be good ones.

Paul

What are the major forex market trading hours?

Answer
The best time to trade is when the market is the most active and therefore has the biggest volume of trades.

New York opens at 8:00 am to 5:00 pm EST
Tokyo opens at 7:00 pm to 4:00 am EST
Sydney opens at 5:00 pm to 2:00 am EST
London opens at 3:00 am to 12:00 noon EST

Answer
Read "Currency Trading for Dummies". In spite of the title, it has great information and is an easy read. It was written by the founders of forex.com and there is frequently an offer for a free ebook on their site.


If you are still interested read "Forex Revolution" by Rossenstreich.

How can I learn to trade Forex?

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.

Q. can i enter forex market from india ???

what pairs can i trade on from india ?
Rupee(Indian Currency) : USD
Rupee : Euro ???
what exactly i can trade on ??

Answer
Spread:
1 pip on 4 majors for Mini Accounts
2-3 pips on majors for Pro Accounts

Leverage/Margin:
Up to 500:1 on Mini Accounts
Up to 400:1 on Pro Accounts
Account Sizes:
Mini Accounts: $250 - $5,000
Pro Accounts: $5,000 and up
Contract Sizes:
Mini Accounts: 1k (micro), 10k (mini), 100k (standard)
Pro Accounts: 10k (mini), 100k (standard)
Trading Hours:
Sun 17:00 EST - Fri 16:00 EST.
Swap Schedule:
Mini Accounts are swap-free.
Pro Accounts earn or pay swap interest.
Pro Accounts rolled over at 17:00 EST.

Interest on Unused Margin:
2% annually.
Platform:
MetaTrader 4.
To get a free demo account .


There are 3 methods of deposit available: Wire Transfer, PayPal, and Moneybookers.

http://forex3333.tripod.com/

names of forex trading companies in india?

I would like to know the genuine forex trading companies in India

Answer
Hi :) There are a lot of forex brokers online with Indian customers.
I suggest you to try Marketiva, which gives you 5$ free to start trading without depositing money.

For more details visit: http://www.brokers4forex.com/preferred-forex-brokers/marketiva-trade-forex-with-5-free.html

besides that futures are centralized ecns at chicago and spot is none centralized.
and besides the time difference of operations.
please don't explain how its derived from the forward price etc..

Answer
There's just a difference in the premium, like in S&P futures vs index.

I've gotten better fills in the futures, especially when trading the reports, because futures are regulated by somebody and they can't rape you as easily, I suppose.

Liquidity is excellent in the futures, just can't get that insane 100:1 leverage.

How is Currency Futures Trading different from Forex Trading?

Answer
From what I can tell, forex trading is conducted with $100,000 dollar blocks in the spot market, whereas futures currency trading is done with $100,000 futures contracts for futures delivery or acceptance.

Also, forex trading uses much higher leverage. like 400:1, whereas futures is more like 10:1 or 20:1.

Also, forex brokers will charge you based on a point spread. So they take money out of your trade based on market conditions. Whereas futures brokers will only charge you a straight commission rate. Thus making it more clear, transparent, and business like.

Also, forex brokers only let you trade currencies. Whereas futures brokers let you trade currencies as well as other futures products.

From what I've learned, forex brokers have a much higher incidence of shady behaviour and the industry is less regulated than futures. No banks or financial institutions do forex transactions, all major businesses use futures.

There are a lot of forex "bucket shops". This means that they scam you. That is not to say that all forex brokers are "bucket shops" or scammers, but a lot of them are.

If you want to trade currencies, I strongly recommend that you do it through the futures, rather than through forex.

There are some Forex robot software programs and some people say that you can earn more using them. Could you tell me something about it? How does it work? Is it real? I understand that there is no miracle about it but still, I wanna know more about it.

And for guys who sell these programs, please, do not post links to places where I can buy it.

Answer
I wrote this articles a couple weeks ago and I think it answers your question perfectly. Sorry that it is so long:

"You have probably heard of Automated Forex Trading. The claims of a Forex computer program making you thousands each day without having to even lift a finger. Is it too good to be true? Does a system like this actually exist. The answer isn't as simple as 'Yes' or 'No' - the answer is "it depends". Ok, so "it depends" doesn't work for you. I get it. You want to know, what is the hype all about? Let me tell you.

When you see a company advertising an "Automated Forex Trading" system they are most likely advertising an "expert advisor". An "expert advisor" is a program, written by a Forex trader, to execute trades on the Metatrader Forex trade platform according to certain trade rules established by the trader.

Most traders use these "expert advisors" but to varying degrees. One of the partners in our group programs expert advisors for our company. We use our expert advisors to manage trade algorithms that require faster than human calculations. Some traders use them to manage 100% of their trading activity while others may only use them to enter trades or may not use them at all. These expert advisors provide a huge advantage by turning some of the more difficult aspects of trading over to a computer that can calculate and process much faster than a human ever could dream of.

There are problems with automated Forex trading though. The most obvious being that computers have glitches and technology is never perfect. Turning your hard earned money over to a computer to manage is a scary thought. Also, there can often exist bugs in the code of an expert advisor that can only be discovered by trading the program. If the person selling the expert advisor has not done sufficient testing to establish the problems you may be left with an expensive error.

The claim made by the promoters of automated trading systems that you never have to do anything other than "turn it on" is misleading and reckless to say the least. Forex markets are ALWAYS changing and a Forex Trading System that worked yesterday may require adjustments to be profitable today. Expert advisors have built in options to allow you to adjust these trade parameters to meet the changing markets. But what happens if the purchaser of an automated trading program doesn't understand what moves the Forex market or why a specific expert advisor works in the first place.

If you are considering buying an automated Forex trading program but have never traded Forex, DON'T. You will lose your money. However, if you understand what moves the Forex market and know how to trade on your own without a computer program - an automated Forex trading program can be a valuable tool in your trading arsenal."

Metatrader Expert Advisors - Which Forex Software Complements Metatrader 4?

Answer
Forex Tracer is among the better Metatrader expert advisors out there. It complements Metatrader 4 on every front, mining, analyzing and reporting on profitable spreads from the 24 hour forex market.

I've been in the Asia Pacific forex markets for over 8 years and the Forex Tracer + MetaTrader 4 combination works best in the current market scenario.

What GBP currency pair has the highest volatility and/or is most sensitive to either interest rate movement or other major economic indicator annoucement?

Please also explain why and source your reference if possible.

Answer
That would be the GBP/JPY, especially when they go in opposite directions against the USD.

The GBP is considered the racehorce of all the currency pairs. Add to that the volatility of the Yen, and you've got a mover that will tear you up in a hurry if you get it wrong.

Be aware that you are probably already trading at 100:1 leverage, so going looking for the most volatility is unnecessary.

Also be aware that the banks control the forex trading arena, not some regulatory agency. They supply the data, do the trading, and also set the rules. They have informed us, for example that they will not allow us to profit from trading a report by betting on both sides with stop orders. They now clear the stops on both sides at the moment of the release of news or report before taking price in any one direction.

You can always ride the trade out if you have a position on prior to the announcement, but to trade the report you have to wait at least a minute or two after the release of the news before placing a trade after the news release. Trying to place a trade at the moment of the news release would be asking for a huge whipsaw, designed to whipsaw the stops.

Currency Trading â FOREX â Foreign Currency Exchange

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.

How can I learn Forex trading for free?

where can I find tutorials about Forex and the FXCM trading station 2?

Answer
Forex Trading Tips â Part 1
Why do hundreds of thousands online traders and investors trade the forex market every day, and how do they make money doing it?
This two-part report clearly and simply details essential tips on how to avoid typical pitfalls and start making more money in your forex trading.
1.Trade pairs, not currencies â Like any relationship, you have to know both sides. Success or failure in forex trading depends upon being right about both currencies and how they impact one another, not just one.

2.Knowledge is Power â When starting out trading forex online, it is essential that you understand the basics of this market if you want to make the most of your investments.
The main forex influencer is global news and events. For example, say an ECB statement is released on European interest rates which typically will cause a flurry of activity. Most newcomers react violently to news like this and close their positions and subsequently miss out on some of the best trading opportunities by waiting until the market calms down. The potential in the forex market is in the volatility, not in its tranquility.

3.Unambitious trading â Many new traders will place very tight orders in order to take very small profits. This is not a sustainable approach because although you may be profitable in the short run (if you are lucky), you risk losing in the longer term as you have to recover the difference between the bid and the ask price before you can make any profit and this is much more difficult when you make small trades than when you make larger ones.

4.Over-cautious trading â Like the trader who tries to take small incremental profits all the time, the trader who places tight stop losses with a retail forex broker is doomed. As we stated above, you have to give your position a fair chance to demonstrate its ability to produce. If you donât place reasonable stop losses that allow your trade to do so, you will always end up undercutting yourself and losing a small piece of your deposit with every trade.

5.Independence â If you are new to forex, you will either decide to trade your own money or to have a broker trade it for you. So far, so good. But your risk of losing increases exponentially if you either of these two things:
Interfere with what your broker is doing on your behalf (as his strategy might require a long gestation period);
Seek advice from too many sources â multiple input will only result in multiple losses. Take a position, ride with it and then analyse the outcome â by yourself, for yourself.

6.Tiny margins â Margin trading is one of the biggest advantages in trading forex as it allows you to trade amounts far larger than the total of your deposits. However, it can also be dangerous to novice traders as it can appeal to the greed factor that destroys many forex traders. The best guideline is to increase your leverage in line with your experience and success.

7.No strategy â The aim of making money is not a trading strategy. A strategy is your map for how you plan to make money. Your strategy details the approach you are going to take, which currencies you are going to trade and how you will manage your risk. Without a strategy, you may become one of the 90% of new traders that lose their money.

8.Trading Off-Peak Hours â Professional FX traders, option traders, and hedge funds posses a huge advantage over small retail traders during off-peak hours (between 2200 CET and 1000 CET) as they can hedge their positions and move them around when there is far small trade volume is going through (meaning their risk is smaller). The best advice for trading during off peak hours is simple â donât.

9.The only way is up/down â When the market is on its way up, the market is on its way up. When the market is going down, the market is going down. Thatâs it. There are many systems which analyse past trends, but none that can accurately predict the future. But if you acknowledge to yourself that all that is happening at any time is that the market is simply moving, you'll be amazed at how hard it is to blame anyone else.

10.Trade on the news â Most of the really big market moves occur around news time. Trading volume is high and the moves are significant; this means there is no better time to trade than when news is released. This is when the big players adjust their positions and prices change resulting in a serious currency flow.

11.Exiting Trades â If you place a trade and itâs not working out for you, get out. Donât compound your mistake by staying in and hoping for a reversal. If youâre in a winning trade, donât talk yourself out of the position because youâre bored or want to relieve stress; stress is a natural part of trading; get used to it.

12.Donât trade too short-term â If you are aiming to make less than 20 points profit, donât undertake the trade. The spread you are trading on will make the odds against you far too high.

13.Donât be smart â The most successful traders I know keep their trading simple. They donât analyse all day or research historical trends and track web logs and their results are excellent.

14.Tops and Bottoms â There are no real âbargainsâ in trading foreign exchange. Trade in the direction the price is going in and youâre results will be almost guaranteed to improve.

15.Ignoring the technicalsâ Understanding whether the market is over-extended long or short is a key indicator of price action. Spikes occur in the market when it is moving all one way.

16.Emotional Trading â Without that all-important strategy, youâre trades essentially are thoughts only and thoughts are emotions and a very poor foundation for trading. When most of us are upset and emotional, we donât tend to make the wisest decisions. Donât let your emotions sway you.

17.Confidence â Confidence comes from successful trading. If you lose money early in your trading career itâs very difficult to regain it; the trick is not to go off half-cocked; learn the business before you trade. Remember, knowledge is power.







Forex Trading Tips â Part 2
Why do hundreds of thousands online traders and investors trade the forex market every day, and how do they make money doing it?
The second and final part of this report clearly and simply details more essential tips on how to avoid the pitfalls and start making more money in your forex trading.
1.Take it like a man â If you decide to ride a loss, you are simply displaying stupidity and cowardice. It takes guts to accept your loss and wait for tomorrow to try again. Sticking to a bad position ruins lots of traders - permanently. Try to remember that the market often behaves illogically, so donât get commit to any one trade; itâs just a trade. One good trade will not make you a trading success; itâs ongoing regular performance over months and years that makes a good trader.

2.Focus â Fantasising about possible profits and then âspendingâ them before you have realised them is no good. Focus on your current position(s) and place reasonable stop losses at the time you do the trade. Then sit back and enjoy the ride - you have no real control from now on, the market will do what it wants to do.

3.Donât trust demos â Demo trading often causes new traders to learn bad habits. These bad habits, which can be very dangerous in the long run, come about because you are playing with virtual money. Once you know how your brokerâs system works, start trading small amounts and only take the risk you can afford to win or lose.

4.Stick to the strategy â When you make money on a well thought-out strategic trade, donât go and lose half of it next time on a fancy; stick to your strategy and invest profits on the next trade that matches your long-term goals.

5.Trade today â Most successful day traders are highly focused on whatâs happening in the short-term, not what may happen over the next month. If youâre trading with 40 to 60-point stops focus on whatâs happening today as the market will probably move too quickly to consider the long-term future. However, the long-term trends are not unimportant; they will not always help you though if youâre trading intraday.

6.The clues are in the details â The bottom line on your account balance doesnât tell the whole story. Consider individual trade details; analyse your losses and the telling losing streaks. Generally, traders that make money without suffering significant daily losses have the best chance of sustaining positive performance in the long term.

7.Simulated Results â Be very careful and wary about infamous âblack boxâ systems. These so-called trading signal systems do not often explain exactly how the trade signals they generate are produced. Typically, these systems only show their track record of extraordinary results â historical results. Successfully predicting future trade scenarios is altogether more complex. The high-speed algorithmic capabilities of these systems provide significant retrospective trading systems, not ones which will help you trade effectively in the future.

8.Get to know one cross at a time â Each currency pair is unique, and has a unique way of moving in the marketplace. The forces which cause the pair to move up and down are individual to each cross, so study them and learn from your experience and apply your learning to one cross at a time.

9.Risk Reward â If you put a 20 point stop and a 50 point profit your chances of winning are probably about 1-3 against you. In fact, given the spread youâre trading on, itâs more likely to be 1-4. Play the odds the market gives you.

10.Trading for Wrong Reasons â Donât trade if you are bored, unsure or reacting on a whim. The reason that you are bored in the first place is probably because there is no trade to make in the first place. If you are unsure, itâs probably because you canât see the trade to make, so donât make one.

11.Zen Tradingâ Even when you have taken a position in the markets, you should try and think as you would if you hadnât taken one. This level of detachment is essential if you want to retain your clarity of mind and avoid succumbing to emotional impulses and therefore increasing the likelihood of incurring losses. To achieve this, you need to cultivate a calm and relaxed outlook. Trade in brief periods of no more than a few hours at a time and accept that once the trade has been made, itâs out of your hands.

12.Determination â Once you have decided to place a trade, stick to it and let it run its course. This means that if your stop loss is close to being triggered, let it trigger. If you move your stop midway through a tradeâs life, you are more than likely to suffer worse moves against you. Your determination must be show itself when you acknowledge that you got it wrong, so get out.

13.Short-term Moving Average Crossovers â This is one of the most dangerous trade scenarios for non professional traders. When the short-term moving average crosses the longer-term moving average it only means that the average price in the short run is equal to the average price in the longer run. This is neither a bullish nor bearish indication, so donât fall into the trap of believing it is one.

14.Stochastic â Another dangerous scenario. When it first signals an exhausted condition thatâs when the big spike in the âexhaustedâ currency cross tends to occur. My advice is to buy on the first sign of an overbought cross and then sell on the first sign of an oversold one. This approach means that youâll be with the trend and have successfully identified a positive move that still has some way to go. So if percentage K and percentage D are both crossing 80, then buy! (This is the same on sell side, where you sell at 20).

15.One cross is all that counts â EURUSD seems to be trading higher, so you buy GBPUSD because it appears not to have moved yet. This is dangerous. Focus on one cross at a time â if EURUSD looks good to you, then just buy EURUSD.

16.Wrong Broker â A lot of FOREX brokers are in business only to make money from yours. Read forums, blogs and chats around the net to get an unbiased opinion before you choose your broker.

17.Too bullish â Trading statistics show that 90% of most traders will fail at some point. Being too bullish about your trading aptitude can be fatal to your long-term success. You can always learn more about trading the markets, even if you are currently successful in your trades. Stay modest, and keep your eyes open for new ideas and bad habits you might be falling in to.

18.Interpret forex news yourself â Learn to read the source documents of forex news and events - donât rely on the interpretations of news media or others.






Otherwise you can use http://www.forextrading-system.com They have all kind of explanations here and some nice free software