Need a Forex broker in my city.?
Posted by Ryanita
on
Saturday, April 12, 2014
, under
forex pakistan
|
comments (0)
Grim
Hey,
Im currently living in Pakistan , Karachi. im the beginner and i need a forex broker in my city. i cant find dem :( plz tell me if u knw any 1.
i dnt need the online jobs.. just tell me the name of the broker who work in karachi,Pakistan..
Answer
there are many. try this website:
http://www.forex.pk/banks-directory.asp
there are many. try this website:
http://www.forex.pk/banks-directory.asp
where from i can get the most recent forex rate alerts on email or mobile phone in pakistan.?
DownTownBo
i want to invest in foreign currency but dont have any idea where to start or where from i can get actual and most recent rates. do they update the rates hourly or daily? i dont have any idea.
any help?
Answer
We will suggest you dont invest do trading by your own. This is not a rocket science. I can advice you best forex trading education course and its FREE really its free.
For better understanding regarding this topic you must visit forextradingevo.com. This website is providing FREE FOREX EDUCATION with FREE CERTIFICATION to the successful candidates. They have wide range of forex courses. forextradingevo.com
We will suggest you dont invest do trading by your own. This is not a rocket science. I can advice you best forex trading education course and its FREE really its free.
For better understanding regarding this topic you must visit forextradingevo.com. This website is providing FREE FOREX EDUCATION with FREE CERTIFICATION to the successful candidates. They have wide range of forex courses. forextradingevo.com
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Forex Tutorial website?
Posted by Ryanita
on , under
forex websites
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comments (0)
G
a while ago i found a website that had a step by step tutorial about forex trading. something for a total beginer, it had like 4 diffrent sections or "Schools" and it taught very basic things to very complicated things. i just dont rember the url, if you know it can you list it please?
Never mind i found it, if your intrested its Babypips.com thanks for the help though, i liked the condom comment LOL made my night :D
Answer
http://www.babypips.com/forex-school/market-hours.html
http://www.premieretradeai.com/index.php
http://www.dailyfx.com/
http://www.forextv.com/FT/Video.jsp?channel=41
http://www.forexnews.com/
http://www.worldmarkethours.com/Forex/Defaulta.htm?12,0,1,0,5
http://finance.yahoo.com/currency
http://www.babypips.com/forex-school/market-hours.html
http://www.premieretradeai.com/index.php
http://www.dailyfx.com/
http://www.forextv.com/FT/Video.jsp?channel=41
http://www.forexnews.com/
http://www.worldmarkethours.com/Forex/Defaulta.htm?12,0,1,0,5
http://finance.yahoo.com/currency
Easiest and best FOREX website?
blcklabelx
Answer
i personally use easyforex and forextradinghq to get my info regarding the latest news on the major/exotic currencies and also to learn more about foreign exchange through their wide range of articles (forex resources section) suited for forex beginners/ anyone who wants to develop/improve their trading style. These articles are also written from a personal note due to the writer's experiences in trading forex.
i personally use easyforex and forextradinghq to get my info regarding the latest news on the major/exotic currencies and also to learn more about foreign exchange through their wide range of articles (forex resources section) suited for forex beginners/ anyone who wants to develop/improve their trading style. These articles are also written from a personal note due to the writer's experiences in trading forex.
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Forex Trading-Lifestyle?
Posted by Ryanita
on
Friday, April 11, 2014
, under
forex trading hours
|
comments (0)
Snowflake
I am in my 20's and have started trading forex and want to continue doing it as a career. But, the fact that your work environment is your home (which is great in some ways btw), and you really don't interact with people is sometimes really difficult and I've heard it's the same for many other traders as well. Of course, not working from home doesn't mean you necessarily will like the people you work with or not be involved in some silly office drama that would make you wish you worked from home. It was like that for me in my previous work environment and I think it's the same for so many other people as well.
Still some days it's really difficult coping with this issue. I love the freedom of this job, that I can live anywhere, work on my own hours, be my own boss, ... the list goes on. I know every job has its positives and negatives, but if anyone with this experience could give me some tips,it would be really great.
Please only serious & genuine answers!
Answer
Hey,
I know your problem since I work from home (and trading Forex in my free time).
The way I see it you have two solutions:
1. stop working as an independent trader and start working as a trader at a firm.
2. Use a laptop and trade in public places like coffee shops.
Hey,
I know your problem since I work from home (and trading Forex in my free time).
The way I see it you have two solutions:
1. stop working as an independent trader and start working as a trader at a firm.
2. Use a laptop and trade in public places like coffee shops.
forex trading anyone?
Patrick
what do you guys think about forex trading? Is it a real business? If yes what is a reasonable return on investment per month can someone make with proper training and if he treats it as a real FULL TIME business. Experienced people are welcome to comment but please with all honesty. And how much do you think is a reasonable capital to start with
Answer
There are very few people that succeed in Forex. It can take 3-5 years to find out if you're part of the 5% that are profitable. It takes a lot of time. Late hours. Lot's of reading. Lots of time improving your skills.
There are very few people that succeed in Forex. It can take 3-5 years to find out if you're part of the 5% that are profitable. It takes a lot of time. Late hours. Lot's of reading. Lots of time improving your skills.
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what do i need to start trading forex in kenya?
Posted by Ryanita
on , under
forex kenya
|
comments (0)
Smith
I live in kenya and i would like to know how i can start my forex trading career and what resources, tools or learning materials i need in order to be successful in forex trading. Thanks.
Answer
The first thing you should do is educate yourself on the tools needed to trade the market. The most common being technical and fundamental analysis.
Technical analysts focus on chart analysis whereas fundamental analysts focus on economic events. And many traders use a combination of both.
There's an abundance of free resources on the internet to learn more, so I would recommend starting with free tools before opening an account with any broker. Here are some places to get started:
BabyPips:
http://www.babypips.com/school/
DailyFX Videos:
http://forexforums.dailyfx.com/dailyfx-education-videos-forex-trading-strategies/
http://forexforums.dailyfx.com/webinars/strategies/
Informed Trades
http://www.informedtrades.com/f112/
This is a basic list to get you started, and I'm sure there is a lot more if you search.
The first thing you should do is educate yourself on the tools needed to trade the market. The most common being technical and fundamental analysis.
Technical analysts focus on chart analysis whereas fundamental analysts focus on economic events. And many traders use a combination of both.
There's an abundance of free resources on the internet to learn more, so I would recommend starting with free tools before opening an account with any broker. Here are some places to get started:
BabyPips:
http://www.babypips.com/school/
DailyFX Videos:
http://forexforums.dailyfx.com/dailyfx-education-videos-forex-trading-strategies/
http://forexforums.dailyfx.com/webinars/strategies/
Informed Trades
http://www.informedtrades.com/f112/
This is a basic list to get you started, and I'm sure there is a lot more if you search.
where can i learn about forex trading in Kenya?
kafris
am really new with forex trading and alot of the info i get online is a bit too technical for me. i was wondering perhaps i could get like a tutor .here in kenya
Answer
There are many training programs available on the internet. Just google "forex trading training."
There are many training programs available on the internet. Just google "forex trading training."
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best forex trading strategy?
Posted by Ryanita
on , under
forex trading strategies
|
comments (0)
maytham
what is the best forex trading strategies?
Answer
You mean, like, the Holy Grail of financial strategies, the pot at the end of the rainbow, the road to easy street, in one simple Answer? Like fortune telling?
Doesn't exist any more than the Easter Bunny, even though the rumors persist.
If someone had The Answer, why would they give it away?
You realize, the more popular a strategy or indicator or trading system becomes, the more it comes under attack and may stop working altogether. The ones that work "best" for you are the ones that match your trading style, time frame, account balance, stress level, availability, etc.
The strategies that work best are good money management, good risk control, and an iron discipline to the strategies that make up your Trading Plan.
You mean, like, the Holy Grail of financial strategies, the pot at the end of the rainbow, the road to easy street, in one simple Answer? Like fortune telling?
Doesn't exist any more than the Easter Bunny, even though the rumors persist.
If someone had The Answer, why would they give it away?
You realize, the more popular a strategy or indicator or trading system becomes, the more it comes under attack and may stop working altogether. The ones that work "best" for you are the ones that match your trading style, time frame, account balance, stress level, availability, etc.
The strategies that work best are good money management, good risk control, and an iron discipline to the strategies that make up your Trading Plan.
What is the best profitable forex trading strategy?
pauedd
Answer
1. Traders often look for an edge in the financial markets so they can consistently earn profits through buying and selling of financial instruments.
2. In the case of the foreign exchange market, or forex, these instruments are foreign currencies. In forex, you speculate on fluctuating exchange rates. The market is particularly fast and volatile, and any trading strategy requires much discipline. One profitable forex trading strategy involves trend analysis to maximize rewards while minimizing risks.
3. Trend Identification
Before you can trade a trend, you must first be able to identify one.
4. Entry
Trend trading means you trade in the direction of the trend.
5.Exit for Profit
When the strategy works, you can exit the trade in many ways. Some traders take an immediate profit and sell the entire position before volatility moves against them. Others wait for the prices to take out the previous high, in the case of an up trend, or the previous low, in the case of a down trend. Others "scale out" by selling part of the position immediately, then holding onto the rest and gradually liquidating the position as it becomes more and more profitable.
7. Risk Management
One of the significant advantages of the trend-line trading strategy is the clarity it affords you when considering the risks. If prices retreat to the trend line and do not bounce off it, and instead push through the trend line, then the trend may no longer be intact. If you wait to enter the trend at the trend line, then your risk is minimal and you exit for a small loss as soon as prices move past this point. Since your rewards are much greater than your losses in this strategy, you have a good chance of being profitable over time.
8. Please Read more: http://www.ehow.com/info_8126558_profitable-forex-trading-strategy.html#ixzz2ZbJsdPTx
.
.
1. Traders often look for an edge in the financial markets so they can consistently earn profits through buying and selling of financial instruments.
2. In the case of the foreign exchange market, or forex, these instruments are foreign currencies. In forex, you speculate on fluctuating exchange rates. The market is particularly fast and volatile, and any trading strategy requires much discipline. One profitable forex trading strategy involves trend analysis to maximize rewards while minimizing risks.
3. Trend Identification
Before you can trade a trend, you must first be able to identify one.
4. Entry
Trend trading means you trade in the direction of the trend.
5.Exit for Profit
When the strategy works, you can exit the trade in many ways. Some traders take an immediate profit and sell the entire position before volatility moves against them. Others wait for the prices to take out the previous high, in the case of an up trend, or the previous low, in the case of a down trend. Others "scale out" by selling part of the position immediately, then holding onto the rest and gradually liquidating the position as it becomes more and more profitable.
7. Risk Management
One of the significant advantages of the trend-line trading strategy is the clarity it affords you when considering the risks. If prices retreat to the trend line and do not bounce off it, and instead push through the trend line, then the trend may no longer be intact. If you wait to enter the trend at the trend line, then your risk is minimal and you exit for a small loss as soon as prices move past this point. Since your rewards are much greater than your losses in this strategy, you have a good chance of being profitable over time.
8. Please Read more: http://www.ehow.com/info_8126558_profitable-forex-trading-strategy.html#ixzz2ZbJsdPTx
.
.
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Forex Online Trading Vs Stock Exchange?
Posted by Ryanita
on , under
forex vs stocks
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comments (0)
Kaiser
What is better for Investment and to make quick Profit ?
Answer
Both aren't proper to make quick profit. In Forex market you won't make a profit at all, while in stock market you could but over long term, not quickly.
Both aren't proper to make quick profit. In Forex market you won't make a profit at all, while in stock market you could but over long term, not quickly.
Stock indices vs. Forex?
Asmodeuss
Which one is better?
Answer
Whichever one you can make a consistent profit at.
Whichever one you can make a consistent profit at.
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Forex Brokers or x brokers I want to know what the truth is with forex brokers?
Posted by Ryanita
on
Thursday, April 10, 2014
, under
forex quotes charts
|
comments (0)
artguy9029
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
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
Forex trading question?
Without downloading any software, how will I know if the price of EUR/USD and USD/JPY will rise or fall in the next one hour? I need helpful information.
Answer
I'm not sure what you're asking.
When you open an account, you will have software available for download, and probably a website to see prices also.
Until you do that, there are many websites that display quotes and charts of current price.
http://finance.yahoo.com/currency-investing
http://www.fxstreet.com/rates-charts/
http://www.dailyfx.com/
http://www.barchart.com/charts/stocks/$DXY
You will NEVER "know" what price will be in the next hour; ever. That would entail being psychic.
I'm not sure what you're asking.
When you open an account, you will have software available for download, and probably a website to see prices also.
Until you do that, there are many websites that display quotes and charts of current price.
http://finance.yahoo.com/currency-investing
http://www.fxstreet.com/rates-charts/
http://www.dailyfx.com/
http://www.barchart.com/charts/stocks/$DXY
You will NEVER "know" what price will be in the next hour; ever. That would entail being psychic.
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I have a serious problem with my Java and it's affecting my work!?
Posted by Ryanita
on , under
forex java
|
comments (0)
Chelsea -
Ok, I work on the website http://www.fxstreet.com/rates-charts/forex-rates/
Now this opens a box that has prices and currencies and it changes every few seconds. Green arrows and red arrows appear, that indicated the live activity of the site.
Anyways, everything works well on my desktop XP with Java 1.5 (the icon of a blue cup of coffee). BUT, it does not work on my laptop Vista even though I've installed v 6.0 (the orange box icon). The numbers in the box appear just they don't move! That indicated that the application is not working!
Now don't tell me the site ain't working, because it's only on that computer. By the way, I've tried everything that uses Java on my laptop from applications to games and they all work!! How can I fix that problem with that site, please, because that's basically my work and it all depends on that stupid Java. I really really need help. Thanks!!
Answer
Jave is not stupid, but you are.
Sorry I had to say it. Take the laptop to a repairmean or something.
Jave is not stupid, but you are.
Sorry I had to say it. Take the laptop to a repairmean or something.
GFT or Oanda for FX trading?
dlo
I'm relatively new to forex, however I wanted individual opinions, which would be better. GFT or Oanda and why? And if you have other suggestions of forex brokers please let me know!
Answer
Hi..there, I'm trying to answer the question
We've been with OANDA and things is very okay. Besides, OANDA is one of the honest forex brokerage. For Beginners, OANDA Platform may be a little complicated, but you could try the Practice account for unlimited time untill you feel comfortable with Java based website.
FXCM is okay too and no different with OANDA.
As a profesional, now I'm trying to open a limited membership website that provide high acuracy either in Forex, Commodity and Options. Please feel free to visit http://foropts.webs.com/ , but it's still under construction untill this mid 2011, but we open our door from now because we base our communication via email.
Thank you
Hi..there, I'm trying to answer the question
We've been with OANDA and things is very okay. Besides, OANDA is one of the honest forex brokerage. For Beginners, OANDA Platform may be a little complicated, but you could try the Practice account for unlimited time untill you feel comfortable with Java based website.
FXCM is okay too and no different with OANDA.
As a profesional, now I'm trying to open a limited membership website that provide high acuracy either in Forex, Commodity and Options. Please feel free to visit http://foropts.webs.com/ , but it's still under construction untill this mid 2011, but we open our door from now because we base our communication via email.
Thank you
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Which automated FOREX trading software is most powerful? anybody try before?comments?
Posted by Ryanita
on , under
forex software
|
comments (0)
Centurion8
Answer
Forex market or Foreign Currency Exchange market is one of the biggest trading market in the world with over USD 1.3 Trillion traded in a day. It is drawing attention ever since it is open to Online trading. Forex trading can be very profitable if you take your time to do a proper research, understanding various options and choose a system that works for you. The most used Forex trading system may not be the most suitable for your needs.
There are many different kinds of Forex Trading Systems and you need to know a few facts as mentioned below, before choosing and funding a system.
1. Testimonials: Is there anyone out there who is trying to sell a system and show you testimonials from the people who actually didn't like the system? Highly unlikely. You should do proper research before indulging into a system that is completely new to you.
2. Profit: Do you want to work with a Forex Trading system that breaks even? Why? If you keep the money in your home, you will still break even, then why take all the hassles of setting up an Forex Trading account and do all the work. Really speaking, you should always do some research on how profitable a particular trading system is?
3. Drawdown: The maximum drawdown of trading system is defined as the greatest peak-to-valley drawdown in a trading systemâs equity. Maximum drawdown gives us a measure of the survivability of the trading system.
4. Time to profit: The actual time it takes to achieve the results with a particular trading system. You should plan to have a long and profitable relationship with your trading system.
Try to use a trading system that let you open a Demo account so that you can practice and learn about Forex Trading without risking any money.
I have tried many of these systems in my quest to simplify my trading experience. I personally have found FreedomRocks to be the system that has worked for me. I have found no bad information on this system from anybody that has actually used it. I have found many skeptics and bashers but nothing from those that have actually tried at least the free trial they offer.
Below are a couple of links I have found in my travels around the web:
http://www.yourforexinvestor.com
http://www.babypips.com
Sincerely,
Brandon Wells
Forex market or Foreign Currency Exchange market is one of the biggest trading market in the world with over USD 1.3 Trillion traded in a day. It is drawing attention ever since it is open to Online trading. Forex trading can be very profitable if you take your time to do a proper research, understanding various options and choose a system that works for you. The most used Forex trading system may not be the most suitable for your needs.
There are many different kinds of Forex Trading Systems and you need to know a few facts as mentioned below, before choosing and funding a system.
1. Testimonials: Is there anyone out there who is trying to sell a system and show you testimonials from the people who actually didn't like the system? Highly unlikely. You should do proper research before indulging into a system that is completely new to you.
2. Profit: Do you want to work with a Forex Trading system that breaks even? Why? If you keep the money in your home, you will still break even, then why take all the hassles of setting up an Forex Trading account and do all the work. Really speaking, you should always do some research on how profitable a particular trading system is?
3. Drawdown: The maximum drawdown of trading system is defined as the greatest peak-to-valley drawdown in a trading systemâs equity. Maximum drawdown gives us a measure of the survivability of the trading system.
4. Time to profit: The actual time it takes to achieve the results with a particular trading system. You should plan to have a long and profitable relationship with your trading system.
Try to use a trading system that let you open a Demo account so that you can practice and learn about Forex Trading without risking any money.
I have tried many of these systems in my quest to simplify my trading experience. I personally have found FreedomRocks to be the system that has worked for me. I have found no bad information on this system from anybody that has actually used it. I have found many skeptics and bashers but nothing from those that have actually tried at least the free trial they offer.
Below are a couple of links I have found in my travels around the web:
http://www.yourforexinvestor.com
http://www.babypips.com
Sincerely,
Brandon Wells
can anyone explain about forex signal software?
Q.
Answer
All forex software and tips are junk.
Use common sense. If someone had reliable and profitable forex signals, what would they do? It would be worth $millions. They would be using the signals to trade profitably. They would not be trying to sell it to you for small amounts.
Educate yourself instead of wasting your time with scams like forex robots, intraday tips, and penny stocks.
EDIT: Do not assume that profitable demo trading will lead you to real life profits. Real life is far more challenging.
All forex software and tips are junk.
Use common sense. If someone had reliable and profitable forex signals, what would they do? It would be worth $millions. They would be using the signals to trade profitably. They would not be trying to sell it to you for small amounts.
Educate yourself instead of wasting your time with scams like forex robots, intraday tips, and penny stocks.
EDIT: Do not assume that profitable demo trading will lead you to real life profits. Real life is far more challenging.
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Advice for 15 year old investor?
Posted by Ryanita
on
Tuesday, April 8, 2014
, under
forex houston
|
comments (0)
racoonsmit
I'm 15 and no one in this town hires until 16. I really need some cash, and I'm thinking about playing the Wall Street game. Does anyone have any advice? Much obliged. Thank you.
Answer
"The Wall Street game" -- well that's off to a good start. You "really need some cash" and "no one in this town hires until 16", so already the count is two strikes and a foul ball.
First, you need some cash to make cash if you are going to play "the Wall Street game".
Second, since you are not 18, the "age of majority" in many places, you will have to get some adult to open an account for you, and be responsible should you succeed in owing more than you put in (which you obviously have to borrow from some relative) depending on which "game" or which "play" you make. (Especially if the "Forex" stringers get you hooked on their program).
Finally, I stood at the docks in the Houston ship channel with a cousin as we looked over this ugly cruise ship, really old. A couple of much older guys slyly suggested that we pool our cash and get in a poker game, "Then you'll win enough to buy tickets and play still more poker all the way to Mexico." I may be dumb, but I'm not stupid, so I declined the offer because I fully realized that he just wanted a laugh and my spare cash, there was no way I was going to win at his game.
If Wall Street is an easy money game, then you just don't understand how it is played, sport.
Cultivate a little patience and maybe visit the library and read up on it in the meanwhile. Good luck.
"The Wall Street game" -- well that's off to a good start. You "really need some cash" and "no one in this town hires until 16", so already the count is two strikes and a foul ball.
First, you need some cash to make cash if you are going to play "the Wall Street game".
Second, since you are not 18, the "age of majority" in many places, you will have to get some adult to open an account for you, and be responsible should you succeed in owing more than you put in (which you obviously have to borrow from some relative) depending on which "game" or which "play" you make. (Especially if the "Forex" stringers get you hooked on their program).
Finally, I stood at the docks in the Houston ship channel with a cousin as we looked over this ugly cruise ship, really old. A couple of much older guys slyly suggested that we pool our cash and get in a poker game, "Then you'll win enough to buy tickets and play still more poker all the way to Mexico." I may be dumb, but I'm not stupid, so I declined the offer because I fully realized that he just wanted a laugh and my spare cash, there was no way I was going to win at his game.
If Wall Street is an easy money game, then you just don't understand how it is played, sport.
Cultivate a little patience and maybe visit the library and read up on it in the meanwhile. Good luck.
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Where can I find free forex charts for smartphones?
Posted by Ryanita
on , under
forex charts
|
comments (0)
ASHRAF A
I do not need a trading platform..just charts
Answer
All smartphone can display some live web based forex charts, you may want to check out forexpros, here is one example chart. I am not associated with forex pros just use their online charts occasionally
http://www.forexpros.com/currencies/gbp-nzd-chart
Also I use this cool indicator that will also display on a smart phone to trade with its called the forex heatmap
http://www.flickr.com/photos/28210474@N03/4703880642/
Now you have live charts and live trade forex entry management tools on your phone!
Good Trading
Mark Mc Donnell
http://www.forexearlywarning.com/
Yahoo Answers Level 3 Responder.
All smartphone can display some live web based forex charts, you may want to check out forexpros, here is one example chart. I am not associated with forex pros just use their online charts occasionally
http://www.forexpros.com/currencies/gbp-nzd-chart
Also I use this cool indicator that will also display on a smart phone to trade with its called the forex heatmap
http://www.flickr.com/photos/28210474@N03/4703880642/
Now you have live charts and live trade forex entry management tools on your phone!
Good Trading
Mark Mc Donnell
http://www.forexearlywarning.com/
Yahoo Answers Level 3 Responder.
Why do forex charts look like this (link supplied)?
tmac54445
I am wondering is there an explanation for these immediate sell offs shown at the begining of the day:
http://finance.yahoo.com/currency/convert?from=EUR&to=USD&amt=1&t=5d
Are these common?
Answer
Yeah this is why I just use a Forex trading system.
What you do (and what I did) is make sure the trading system has a 60 day money back guarantee first; then make sure you can use a demo account. A demo account let's you play the trading game with "play money" so you can see if you can profit from the trading system without investing your real cash.
Use the demo account for 59 days and if you see you can make profit you keep the system and invest your real cash. If there's no profit to be made you get a refund and try another system; there's literally no risk when buying one.
If you're interested I found reviews of the top 3 Forex trading systems: http://forex-tracer.the-perfect-solution.com/
Yeah this is why I just use a Forex trading system.
What you do (and what I did) is make sure the trading system has a 60 day money back guarantee first; then make sure you can use a demo account. A demo account let's you play the trading game with "play money" so you can see if you can profit from the trading system without investing your real cash.
Use the demo account for 59 days and if you see you can make profit you keep the system and invest your real cash. If there's no profit to be made you get a refund and try another system; there's literally no risk when buying one.
If you're interested I found reviews of the top 3 Forex trading systems: http://forex-tracer.the-perfect-solution.com/
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Is it possible to receive leverege for a "forex carry trade"?
Posted by Ryanita
on , under
forex trading indonesia
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comments (0)
Oriel B
What would be the terms of the leverege? I was thinking about investing 1000 USD and use leverege from some broker firm, put that money in some country with a hight interest rate, and "protect" myself by using "forward exchange contracts". What do you think?
Answer
All FX contracts are leveraged at about 10 to 1. If you used your $1000 to buy currency, you would have $10,000 worth of exposure. If your trade drops by around 5% you will either have to put more money in the account or it will be closed out.
An example of this trade is you can take your dollars and buy the Brazilian Real (BRL) which has an interest rate of 13%. To protect yourself you buy a 1 year forward contract, well guess what, the forward contract is priced at 13% so you will break even (minus trading fees).
You can take advantage of the forward curve (this is what forward rates are at the moment in countries such as brazil, indonesia and turkey as their forward rates are pricing in high interest rates) because the curves are priced for easing. If you buy a 2 year forward contract in brazil and the exchange rate doesn't move then you will make money.
This is quite a complex financial trade, read up on it first - i've put a couple of links below.
All FX contracts are leveraged at about 10 to 1. If you used your $1000 to buy currency, you would have $10,000 worth of exposure. If your trade drops by around 5% you will either have to put more money in the account or it will be closed out.
An example of this trade is you can take your dollars and buy the Brazilian Real (BRL) which has an interest rate of 13%. To protect yourself you buy a 1 year forward contract, well guess what, the forward contract is priced at 13% so you will break even (minus trading fees).
You can take advantage of the forward curve (this is what forward rates are at the moment in countries such as brazil, indonesia and turkey as their forward rates are pricing in high interest rates) because the curves are priced for easing. If you buy a 2 year forward contract in brazil and the exchange rate doesn't move then you will make money.
This is quite a complex financial trade, read up on it first - i've put a couple of links below.
Forex trading is legal in india and also can we invest and use indonesia exchange? ?
Manikandan
Answer
yes my dear friend it is legal in india and many people are doing it. I think this question is very common in yahoo answers and many times it has been answered.
Regards
yes my dear friend it is legal in india and many people are doing it. I think this question is very common in yahoo answers and many times it has been answered.
Regards
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Forex Question. Dollar Strength.?
Posted by Ryanita
on
Monday, April 7, 2014
, under
forex factory
|
comments (0)
Guysmiley2
Why is the â¬/$ £/$ keep sinking? When the economy of the US is so tanked, why do investors continue to buy the dollar? Is it because it's the safest of the trio? Or is that simply an illusion. If i'm Long with the â¬/$, how do you think it will be before I can turn my losses into profit?
Answer
As the stock market falls, the dollar seems to be getting stronger. This fact defies logic as the US is spending money now that they donât even have â it has not been printed yet â no one has even earned it yet. The printing presses are on 24/7 at the US treasury as they pump trillions of dollars into the economy â money that is not backed by anything yet â money that is not secured by some debt instrument like a bond or T-bill â money that does not yet exist. And with all this, common sense would say that the Dollarâs value is being diluted â but the dollar is strong, go figure. Forex Brokers and Online Forex traders are helping pump the dollar up for several reasons.
Part of this reason for this is that the rest of the world is in far worse shape and is seen as not doing enough to stave off the inevitable collapse of many businesses such as banks and investment companies â let alone auto factories, chicken coops or even farms for that matter. Japan, historically the USâs counterpart in âsafe-havenâ status is spiraling out of control. Several months back they tried to stem the Yenâs growth in order to keep their exports from suffering â now the Yen is in a tailspin falling flat.
Also i think the investors pushed the Euro down on Wednesday as investors continued to price in the likelihood of an interest rate cut from both the European Central Bank and the Bank of England alt on today. The European Central Bank is expected to cut its core rate by half a percentage point to 1.5 percent, and the Bank of England is expected to lower its rate to 0.5 percent on Thursday, also by half a percentage point. Lower interest rates can weaken a currency as investors move funds to where they earn better returns elsewhere.
As the stock market falls, the dollar seems to be getting stronger. This fact defies logic as the US is spending money now that they donât even have â it has not been printed yet â no one has even earned it yet. The printing presses are on 24/7 at the US treasury as they pump trillions of dollars into the economy â money that is not backed by anything yet â money that is not secured by some debt instrument like a bond or T-bill â money that does not yet exist. And with all this, common sense would say that the Dollarâs value is being diluted â but the dollar is strong, go figure. Forex Brokers and Online Forex traders are helping pump the dollar up for several reasons.
Part of this reason for this is that the rest of the world is in far worse shape and is seen as not doing enough to stave off the inevitable collapse of many businesses such as banks and investment companies â let alone auto factories, chicken coops or even farms for that matter. Japan, historically the USâs counterpart in âsafe-havenâ status is spiraling out of control. Several months back they tried to stem the Yenâs growth in order to keep their exports from suffering â now the Yen is in a tailspin falling flat.
Also i think the investors pushed the Euro down on Wednesday as investors continued to price in the likelihood of an interest rate cut from both the European Central Bank and the Bank of England alt on today. The European Central Bank is expected to cut its core rate by half a percentage point to 1.5 percent, and the Bank of England is expected to lower its rate to 0.5 percent on Thursday, also by half a percentage point. Lower interest rates can weaken a currency as investors move funds to where they earn better returns elsewhere.
Question about Forex news ?
Mideel
The economic events on every year, are they on fixed date or not ?
Because I tried to download yearly economic events schedule in PDF but I couldn't find one.
Answer
A lot of the yearly economic events happen on a schedule but keep in mind that there are a lot of economic events that cannot possibly be forecast in advance.
In order to understand this better here are the types of news that can appear in an economic calendar, which is used for Forex:
- Interest Rate Announcement
- Gross Domestic Product
- Consumer Price Index
- Employment Rate
- Retail Sales Indicators
- Balance of Payments
- Government Fiscal and Monetary Policy
- Durable Goods Report
- Industrial Production
- Purchasing Manager Index
- Producer Price Index
- Existing Home Sales
- Wholesale Price Index
- Productivity Report
- Employment Cost Index
- Factory Orders
I got this information from a Forex learning site here:
http://www.xglobalmarkets.com/learn-forex/fundamental-analysis/
A lot of the yearly economic events happen on a schedule but keep in mind that there are a lot of economic events that cannot possibly be forecast in advance.
In order to understand this better here are the types of news that can appear in an economic calendar, which is used for Forex:
- Interest Rate Announcement
- Gross Domestic Product
- Consumer Price Index
- Employment Rate
- Retail Sales Indicators
- Balance of Payments
- Government Fiscal and Monetary Policy
- Durable Goods Report
- Industrial Production
- Purchasing Manager Index
- Producer Price Index
- Existing Home Sales
- Wholesale Price Index
- Productivity Report
- Employment Cost Index
- Factory Orders
I got this information from a Forex learning site here:
http://www.xglobalmarkets.com/learn-forex/fundamental-analysis/
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what moves prices in forex?
Posted by Ryanita
on , under
forex walkthrough
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comments (0)
Dave
hello,
im trying to understand what causes forex prices to change from second to second?
what is confusing me is that when you buy or sell a curency pair, you are dealing directly with whatever fx trading company you are using, and not with another trader via the fx company acting as a broker would do as with stocks traded at a regulated exchange.
could the fx trading company manipulate the spread or 'mis-quote' prices and quite easily rip you off?
is there some kind of arbitrage that keeps prices fairly even from one fx trading company to another?
hope my questions make sense and thanks for your help.
Answer
Your questions make perfect sense.
Of course, there are scams in every industry, but if you talk to other traders, this can be avoided. I've used FXCM for several years without any problems. FXDD, on the other hand, wouldn't execute my market orders when I would clearly make a profit, and would often go Sniping and hunting for stops near pivot points. Obviously, no broker admits to committing these acts. There is no blacklist or organization that reports such activity.
I always use a backup quote system with a different broker in case of problems. I'm not aware of any misquoting prices. First, if they purposefully misquoted or manipulated prices to their clients, they would be committing fraud and risk their entire business to make pennies. Second, it wouldn't be that hard to catch, and they wouldn't be in business very long anyway.
Forex is the biggest financial market in the world, with over $4 trillion worth of transactions occurring every day, and currencies are traded worldwide among the major financial centers of London, New York, Tokyo, Zürich, Frankfurt, Hong Kong, Singapore, Paris and Sydney. This means, at any time during the day you can find a financial center that is buying and selling currencies.
You must know that all of these financial centers are all interconnected, and as the NYSE is the financial center for stocks, London is the financial center for currencies. As the workings of these forex financial centers are not public nor overseen by any gov't agency, I do not know personally the exact method for "keeping prices fairly even" throughout the world, but I would guess it is through computer algorithm and/or arbitrage, just like in the stock and bond markets. As an individual trader, I know better than to waste my time or my chump change to find pennies of arbitrage opportunity. But I also know that every developed country is watching the currency of every other country and these checks and balances make sure that things run smoothly.
What Moves A Currency?
http://www.investopedia.com/walkthrough/forex/getting-started/currency-movers.aspx#axzz2NEwVuVLc
The primary mover of price is supply and demand, but also the perception of economies, trends, and policy, like any other market. Some commodity markets have plagues and pestilences, the currency markets have politicians, debt, and interest rates as the unknown antagonists.
Ten years ago it was fun to trade forex. Now it is a crisis/interventionist market, and is no longer a free market. Trying to guess what a politician will do next is impossible, and trading forex has become all the more difficult.
Your questions make perfect sense.
Of course, there are scams in every industry, but if you talk to other traders, this can be avoided. I've used FXCM for several years without any problems. FXDD, on the other hand, wouldn't execute my market orders when I would clearly make a profit, and would often go Sniping and hunting for stops near pivot points. Obviously, no broker admits to committing these acts. There is no blacklist or organization that reports such activity.
I always use a backup quote system with a different broker in case of problems. I'm not aware of any misquoting prices. First, if they purposefully misquoted or manipulated prices to their clients, they would be committing fraud and risk their entire business to make pennies. Second, it wouldn't be that hard to catch, and they wouldn't be in business very long anyway.
Forex is the biggest financial market in the world, with over $4 trillion worth of transactions occurring every day, and currencies are traded worldwide among the major financial centers of London, New York, Tokyo, Zürich, Frankfurt, Hong Kong, Singapore, Paris and Sydney. This means, at any time during the day you can find a financial center that is buying and selling currencies.
You must know that all of these financial centers are all interconnected, and as the NYSE is the financial center for stocks, London is the financial center for currencies. As the workings of these forex financial centers are not public nor overseen by any gov't agency, I do not know personally the exact method for "keeping prices fairly even" throughout the world, but I would guess it is through computer algorithm and/or arbitrage, just like in the stock and bond markets. As an individual trader, I know better than to waste my time or my chump change to find pennies of arbitrage opportunity. But I also know that every developed country is watching the currency of every other country and these checks and balances make sure that things run smoothly.
What Moves A Currency?
http://www.investopedia.com/walkthrough/forex/getting-started/currency-movers.aspx#axzz2NEwVuVLc
The primary mover of price is supply and demand, but also the perception of economies, trends, and policy, like any other market. Some commodity markets have plagues and pestilences, the currency markets have politicians, debt, and interest rates as the unknown antagonists.
Ten years ago it was fun to trade forex. Now it is a crisis/interventionist market, and is no longer a free market. Trying to guess what a politician will do next is impossible, and trading forex has become all the more difficult.
Forex and Stock Trading Computer?
BC
I'm trying to setup a multiple monitor trading computer. Could some body please let me know what my options are. I would like to use four screens on one computer. Thanks!
Answer
The Three main ways to Setup Multiple Monitors
1) You can buy a pre-manufactured multiple monitor computer. The best place to purchase a multiple monitor computer is at: http://Multi-Monitors.com. They carry a multi-monitor computer line called SUPER PC that can support from 2 to 12 monitors (or more if you ask).
http://www.multi-monitors.com/SUPER_PC_Multi_Monitors_com_Multi_Screen_Computers_PCs_s/23.htm
http://www.multi-monitors.com/SUPER_PC_Multi_Monitors_com_Multi_Screen_LCD_Displays_s/21.htm
2) You can get a USB to VGA Adapter, or USB to DVI Adapter that will allow you to add an extra monitor to your computer via any USB2.0 Port. You can also add multiple extra monitors by using multiple adapters. This is a great option for viewing documents, surfing the web, using Microsoft Office and many other business tasks. This is not a good option for intense graphical situations such as HDTV, Blu-ray, Gaming and 3D / CAD Workstation applications. For those types of scenarios, it is highly recommended that you purchase a high-powered multi-monitor workstation or a Matrox Dual or Triple Head2Go.
http://www.multi-monitors.com/SUPER_PC_Multi_Monitors_com_Multi_Screen_USB_Adapters_s/22.htm
3) You can replace or add an extra video card to your existing computer, depending on how many monitors you wish to support. Although this sounds easy enough, this is a rather complex solution for a beginner, especially when trying to find a compatible graphics card. For this reason, I am going to write an entirely seperate post on that topic and will link to it here, very soon.
http://www.multi-monitors.com/category_s/1914.htm
Once you have your multiple monitor system set up and ready to use, you will need to enable all of your monitors in your âDisplay Propertiesâ Control Panel. Here is a great link to a complete and animated walkthrough of how to enable your multiple monitors in Windows.
How to Setup Multiple Monitors (Instructions)
http://www.multi-monitors.com/SUPER_PC_Multi_Monitor_Computer_Setup_Instructions_s/40.htm
This is what it will look like when you are done:
http://www.youtube.com/watch?v=j_avGStqZOI
http://www.youtube.com/watch?v=1AR7WDpCXj4
The Three main ways to Setup Multiple Monitors
1) You can buy a pre-manufactured multiple monitor computer. The best place to purchase a multiple monitor computer is at: http://Multi-Monitors.com. They carry a multi-monitor computer line called SUPER PC that can support from 2 to 12 monitors (or more if you ask).
http://www.multi-monitors.com/SUPER_PC_Multi_Monitors_com_Multi_Screen_Computers_PCs_s/23.htm
http://www.multi-monitors.com/SUPER_PC_Multi_Monitors_com_Multi_Screen_LCD_Displays_s/21.htm
2) You can get a USB to VGA Adapter, or USB to DVI Adapter that will allow you to add an extra monitor to your computer via any USB2.0 Port. You can also add multiple extra monitors by using multiple adapters. This is a great option for viewing documents, surfing the web, using Microsoft Office and many other business tasks. This is not a good option for intense graphical situations such as HDTV, Blu-ray, Gaming and 3D / CAD Workstation applications. For those types of scenarios, it is highly recommended that you purchase a high-powered multi-monitor workstation or a Matrox Dual or Triple Head2Go.
http://www.multi-monitors.com/SUPER_PC_Multi_Monitors_com_Multi_Screen_USB_Adapters_s/22.htm
3) You can replace or add an extra video card to your existing computer, depending on how many monitors you wish to support. Although this sounds easy enough, this is a rather complex solution for a beginner, especially when trying to find a compatible graphics card. For this reason, I am going to write an entirely seperate post on that topic and will link to it here, very soon.
http://www.multi-monitors.com/category_s/1914.htm
Once you have your multiple monitor system set up and ready to use, you will need to enable all of your monitors in your âDisplay Propertiesâ Control Panel. Here is a great link to a complete and animated walkthrough of how to enable your multiple monitors in Windows.
How to Setup Multiple Monitors (Instructions)
http://www.multi-monitors.com/SUPER_PC_Multi_Monitor_Computer_Setup_Instructions_s/40.htm
This is what it will look like when you are done:
http://www.youtube.com/watch?v=j_avGStqZOI
http://www.youtube.com/watch?v=1AR7WDpCXj4
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Forex trading hours between USD and INR?
Posted by Ryanita
on
Sunday, April 6, 2014
, under
forex trading usd inr
|
comments (0)
anr_at_yah
I see that the USD-INR forex rates seem to change only during the normal business hours in India. Are those the only hours for forex trading in USD-INR? If so, what about all those services that offer 24 hour trading -- is there some misunderstanding on my part?
Thanks.
Answer
If you are in India and looking for the 24 hrs trading, in my openion, you cannot. NSE is not round the clock market like forex. I am not suer if there are any regulations in place from Inida (RBI)
If you are in India and looking for the 24 hrs trading, in my openion, you cannot. NSE is not round the clock market like forex. I am not suer if there are any regulations in place from Inida (RBI)
US Dollar Index - Against Which Day Trading Forex Currencies Has The US Dollar Rallied?
Hello
Answer
Among the day trading forex currencies the US Dollar (USD) has seen gains against the:
- Canadian Dollar (CAD)
- Japanese Yen (JPY)
- Australian Dollar (AUD)
The US Dollar has also gained against the Indian Rupee (INR) and the Russian Rouble (RUB).
The biggest gains as of now have come from a rally against the Japanese currency, so if you're into trading USD, this is where you should continue to see profits over the short to medium term.
I recommend you look at Pound Sterling (GBP) as well as it's been a traditionally strong currency. Include it in your forex portfolio and part of your daily trade.
Among the day trading forex currencies the US Dollar (USD) has seen gains against the:
- Canadian Dollar (CAD)
- Japanese Yen (JPY)
- Australian Dollar (AUD)
The US Dollar has also gained against the Indian Rupee (INR) and the Russian Rouble (RUB).
The biggest gains as of now have come from a rally against the Japanese currency, so if you're into trading USD, this is where you should continue to see profits over the short to medium term.
I recommend you look at Pound Sterling (GBP) as well as it's been a traditionally strong currency. Include it in your forex portfolio and part of your daily trade.
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