Is Forex Peace army and forexbastards.com a SCAM ?

Why would one so called guru need so many forex sites ?


Forexbastards.com | Kingforexsignals.com
Secretnewsweapon.com | Secretforexsociety.com
Forexfreedom.com | Forexdiamonds.com
Forexpeacearmy.com | Forexpeacearmy.org forexpeacyarmy.com are all these site run by a man who knows nothing about trading im starting to think yes ! its all a scam , now i see Dmitri Chavkerov on cnn tv as a con artist and scam !

Answer
TOTAL SCAM ! I LOST MONEY WITH THIS GUY, he just got busted for online fraud by the FBI and other federal agency its in his nature to defraud and pretend to be what he is not. he was found in a tiny apartment , and his financial record reveal he lost most of his small account in trading years ago and almost all of his saving was from sales not trading, proof again he is not a real trader just another sales man selling dreams to new traders looking for hope ! i would not give this fool another penny of my money ! he lies about everything and hides the truth, there are way better alert service company's out there real alert services companies. i give this fraudster a big fat ZERO. he owns a ton of web-sites a classic scam tactic to flood a niche market with your web-sites so no matter what you buy it will still be from the same vendor what a sham !

How does forex work when buying and selling?

Q. So if i want to buy jpy/aud or anything that does not have us dollars in it how would it work. Would i convert my us dollars into japanese yen when i buy it. Then when i sell it i convert the jpy into aud then i once again convert it into usd. I am really confused can someone help me. When i pay the broker their cut for being the middle man do they take percentage in usd or jpy or british pounds or what.

Answer
It depends which currency your brokerage account is ,

I'm in New Zealand and have a forex account in Australia, so it's balance is displayed in AUD.

When I do a trade on the USD/EUR pair, I'm just playing with the EUR/USD rate - all of the calculations are done in AUD.

I think forex peace army and babypips have the best free training.

You need to read up on money/risk management before you start and having a position size calculator will help when you first start out

Good luck

What would you prefer :
make 20 pips almost every trade, or make 50 - 70 pips NOT every trade (maybe once every 3 - 5 trades) and make nothing in between ?

(Set up: Stop loss moved to: $0 when market moves + 10 pips)

Answer
I am an active forex trader.


I do not recommend making 20 pips a day. I highly discourage leverage based on my personal experiences. (because I have a small account and I cannot let my profits run since I would get stopped out more often. However, without leverage I can widen my stops, and let my profits run)


I recommend making as many pips as you can based on management of your position using trailing stops, trailing them right under invisible/visible support levels.

I have lots of educational material and courses in forex - Contact me.

forex trade?

Is forex trade profitable? How does one get started and what is the best broker to use?

Answer
Hi,

Of course forex is profitable and it is very exciting business. You may trade 5,5 days per wheek; 24 hours a day from Sunday night to Friday night.
Main rules to win:
Always have trading plan,
Be patient - market always be there
Don't be greedy,
Don't set too big goals,
Never risk more than 1%-2% of your trading capital,
Always use reasonable stop loss orders.

And note markets are not places - markets are people.

If you are interesting I could introduce you to one of forex broker leaders that is located in SWITZERLAND and Regulated by the Swiss Federal Department of Finance; audited by KPMG.
They have very tight spreads. Total 25 currency pairs Gold and Silver.
SPREADS:
2 pips for EURUSD, USDJPY, AUDUSD, EURGBP, EURCHF;
3 pips for GBPUSD, USDCHF, USDCAD, EURJPY;
4 pips for CADJPY, CHFJPY;
5 pips for NZDUSD, AUDJPY;
6 pips for EURAUD, GBPCHF, NZDJPY;
7 pips for EURCAD, GBPJPY;
8 pips for GBPCAD, GBPAUD, AUDCHF, CADCHF, NZDCHF;
10 pips for AUDCAD, AUDNZD.

LEVERAGE 1:200 default but client could chose the leverage from 1:1 to 1:200 at the account opening procedure.

MARGINS. The margin or leverage a client can have depends on the client's account equity. The table below shows margin requirements for the different equity levels:
Less than 25,000 - 0.5%
25,000 to 1,000,000 - 1%
1,000,000 to 5,000,000 - 2%
5,000,000 to 10,000,000 - 3%
Above 10,000,000 - 5%
Please note that on weekends and holidays margin requirements remains the same.

SWAPS are counted as negative as positive. Also is available swap-free accounts.

STOP and LIMIT orders may be placed as close as 5 pips from market price

TRADING TERMINAL Meta Trader 4.

Clients can choose to have their accounts denominated in either USD, EUR, GBP, JPY, CHF, AUD or CAD.

Initial account opening deposit from US$2000. From first view it probably looks high comparing with other brokers who allow mini accounts and minimum initial deposit from USD250 but it is more useful and safer because clients are more protected from quick stop out and total loss of the initial deposit in the case if unfortunately it would be several unlucky trades in rage.
This is regular forex trading account however it is allowed trading in mini lots (from 0.1 lot).

If you are interesting I could introduce you to them please e-mail or PM me (press on my name) and I provide you with further information. Furthermore I could provide you for FREE with more than 50 trading e-books and trading systems that worth more than several thousand dollars and are very useful as for beginners as for experienced traders.

If you have any questions, please don't hesitate and contact me (press on my name).

Good luck!

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.

what is the best source to learn forex trading?

Q. i need a trusted book or a series of books or a collection or seminars or videos or anything that can take me from A to Z because simply I KNOW NOTHING ABOUT IT but i am curious and i want to learn it and if i like it i will continue

Answer
There are many sources to learn forex trading. As a matter of fact too many that one often get confused. The numerous forums with 101 views just adds to the confusion :p

My advice always is that if something sounds too good to be true, it probably is. There is no shortcut to riches. Be prudent ya! Anything that advocates understanding of the market and proper money management is probably good.

If you did a search on all these Forex robots for sell .. they put up videos on how they made so much money thru Using their Robots for their Forex trades. Anyone has any REAL experience of using these robots and it actually works ? Does Auto-Trade for Forex really exist ?

Answer
The Federal government warns there are a lot of Forex frauds out there, and these Forex robots appear to be one type of these scams. If these robots really worked, there would be scads of articles about them in the Wall Street Journal and other financial publications talking about them. When I do a web search, I can not find a single reputable news article encouraging the use of Forex robots. The link below is a Federal website warning you about Forex fraud.

There are a lot of people on the Internet claiming they have done very well using Forex robots. These appear to be of two types. One is the outright liars. For instance, you might meet a person called "Zboy227" who says "I made a lot of money using ScamRobot2000, go to their website at ScamRobot .com/Zboy227." The "/Zboy227" tells the website that Zboy227 has referred you. If you buy the product, Zboy227 gets a commission. He is only lying to you to get a commission.

There is a lot of luck in Forex. Sometimes you will run into people on the web who have tried a robot for a few days and have had some beginner's luck with it. They start bragging about how well they have done. Later, they start to lose money, but they rarely get back on the web and talk about how much money they lost. People like to brag about their successes, but rarely talk about their losses. The result is that much of the feedback about these Forex robots is positive.

I may point out that websites that sell Forex robots admit there are a lot of scams out there. Of course they claim the other guy's robot is a scam, but their robot works. If you do a web search on the words "forex robot" and "scam" you will find a lot of sites saying their competitors are scams.

I will admit I have not personally tested every robot out there, and I can not prove they are all scams. But I would be very hesitant to spend a lot of money on a robot without clear proof it really works.

Robot Forex which one really really work?

Answer
The Federal government warns there are a lot of Forex frauds out there, and these Forex robots appear to be one type of these scams. If these robots really worked, there would be scads of articles about them in the Wall Street Journal and other financial publications talking about them. When I do a web search, I can not find a single reputable news article encouraging the use of Forex robots. The link below is a Federal website warning you about Forex fraud.

There are a lot of people on the Internet claiming they have done very well using Forex robots. These appear to be of two types. One is the outright liars. You might meet a person called "Zboy227" who says "I made a lot of money using ScamRobot2000, go to their website at ScamRobot .com/Zboy227." The "/Zboy227" tells the website that Zboy227 has referred you. If you buy the product, Zboy227 gets a commission. He is only lying to you to get a commission.

There is a lot of luck in Forex. Sometimes you will run into people on the web who have tried a robot for a few days and have had some beginner's luck with it. They start bragging about how well they have done. Later, they start to lose money, but they rarely get back on the web and talk about how much money they lost. People like to brag about their successes, but rarely talk about their losses. The result is that much of the feedback about these Forex robots is positive.

I may point out that websites that sell Forex robots admit there are a lot of scams out there. Of course they claim the other guy's robot is a scam, but their robot works. If you do a web search on the words "forex robot" and "scam" you will find a lot of sites saying their competitors are scams.

I will admit I have not personally tested every robot out there, and I can not prove they are all scams. But I would be very hesitant to spend a lot of money on a robot without clear proof it really works.

Hi

FXCM has been recommended to me for trading spot forex currency pairs.


I mainly trade emini futures through a futures broker at $4.75 per contract per round trip.

It seems much more expensive in the spread commission of 3 pips to trade currency pairs through FXCM to get the same profit per pip.

What is the benefit of using FXCM or any other spot broker when I can just get $4.75 per round trip through a futures broker, I just can't see the point of paying a 3 pip spread.

Am I missing something?
Julia dear, please stay in Africa if you have nothing relevant to contribute.

Answer
The only real advantage of Forex vs. currency futures is that Forex allows you to scale as small as you want to trade, while futures is only available with a contract size that may be too large for many accounts to safely handle. A person with a smaller account may find the ability to trade even a fractional micro-lot reason enough to switch.

Perceived advantages may include the increased liquidity of the major pairs on spot vs futures, but in reality the other side of your position is almost always taken by your forex broker, because he expects and usually wants you to lose.

Another advantage some point to is that it is much less likely to run through a stop in Forex than in futures, but at the same time I would submit that it is much more likely that the Forex shops would shade the price enough to trigger stops just to take their customers out of trades, which you don't see on the regulated futures exchange.

Some say that forex has no commissions, but in reality, as you have noted, the spread is much more expensive than the commission.

Others point to the fact that you can open a Forex account at many firms for less than $100 and receive 400-1 margin, however, could also be suicidal to your account to use this type of leverage.

I have traded Forex for many years and educate traders as well, and I would encourage all of my clients to stick with the futures unless their account is under $10k. I have noticed that the business has become increasingly dishonest - there are only a couple of shops that are truly legitimate - one, Dukascopy, is excellent, but is increasingly difficult for Americans to deal with since the IRS crackdown on Swiss accounts and requires a very large minimum account size. I switched to currency futures two years ago and you couldn't pay me to go back to Forex.

what is meant by forex trading?what is meant by futures and options?

forex trading means trading in foriegn exchange.

Answer
So i guess you know what forex trading is.

Futures and options and forwrds, the easiest, are a kind of derivatives. Derivatives are a financial instrument whose value derives form the value of other, more basic underlying assets.

Now, forwards are contracts in which the price of a commodity or currency is set for the future. It has to do with expectations of the market, and how the market thinks, based on information today, the price of those commodities or currencies will be in a certain date.
Lets say the exchange rate of mexican pesos for us dollars today is $11.09. That´s the spot exchange rate. Now, lets say you and i agree that in june 2006, im your gonna sell me american dollars at an exchange rate of $11.1828. If my expectation is the peso will be higher, im gonna make a deal with you. So, the future of the pedo, for june 2006 will be $11.1828. Imagine our deal, but not made between us, but between thousands of dealers, in the Chicago MArket.
Companies use futures a lot as a way to protect themselves. I believe in english its called hedging. If an american firm sells water tanks to a firm in France, but the payment isnt due untill 45 days later, both companies would like to agree to make the exchange of euros for us dollars at a future exchange rate. That way they now exactly how much they owe or get. The same with commodity prices. A future of the price of oil is nothing more than a contract agreeing on the future price of the transaction. Funny thing is, you and i can agree on an oils future contract, where im selling and your buying, but the barrel of oil is never transacted. What we do is, lets say the future price of oil for august is $73 usd. im selling, you are buying, and we agree on that price. Come august 31st, the real price of oil is $78 usd. since you are buying, you win $5 bucks per barrel right? And i lose % per barrel... so instead of giving you a barrel of oil you cannot even store, i just give you $5 per barrel. _If the real price had been $65, i would have won $8 per barrel, and you lose $8 per barrel.

The same with futures. MAjor difference with forwards is that an exchange of assets is required. Contracts are pretty much standarized. The delivery, kind and quality of product, etc is all defined. Largest exchanges are made in the Chicago Board Trade. Futures include a los of prodcts... live cattle, sugar, coffee, gold, cooper, aluminium, etc.

Options are a little bit harder. There are 2 basic type of options: call options, giving the holder the right, option, to buy an asset at a certain date at a certain price. Put options, giving the holder the right, option, to sell an asset at a certain date at a certain price. For example, lets say i buy a call option to buy in 3 months stock of yahoo. The actual price is, just an example, $10 bucks, and my call option gives me the option to buy at $12. The price to buy that option for 1 share of yahoo is worth $1. If 3 months pass, and the price of the stock is $11, i certainly wont take my option to buy the stock and lose $1, the initial investment on the option. But if the real price is $15, im going to take my option, buy the stock at $12 and sell it at $15, earning $2.
Just be careful cause there are american options and european options... european options can only be excersied at the end of the contract, ehile american options can be excercised whenever in the life of the option.

visit this
http://perfect-forex.blogspot.com/

Answer
The site you ask us to visit is for losers. FX (Forex) is a unregulated arena for trading currencies. Many people make good money trading them. ....... 95% of all newbe's lose most to all of their accounts within the first 90 days.

The site you suggest we visit has the "air" that this investing is easy and is for everyone. That's what happens in an uregulated industry. Companies can (and do) say anything you want to hear.

Read many good books on FX trading. Take a year before you invest one cent.

Consider yourself warned.

anyone with real and successful experience on the FOREX?

I am investigating trading on the FOREX. Their are so many seminars offering this and that, and plenty of warnings on youtube to stay off the ForEx. Research Ive seen suggests 95% of traders fail and go broke, Ramsey says 7 in 10 traders lose money...I'm looking to find and hear from any traders with actual experience who are consistently profitable. Please Help!

Answer
I made good money trading forex during 2005 and 2006, and actually made more than trading stocks and futures because of the high leverage. I was already a successful trader, and this was too good to be true. But then it became real popular and I had to rework my strategy. And then the rules changed.

Forex is largely unregulated and run by the banks. It wasn't enough for them to make money from the newbies. They were taking on too much risk trading against real traders. If I could see their heavy-handed moves and fakeouts and stop running, then others could as well. I exploited their weaknesses and used their strengths against them. They began denying my market orders when it was clear I would make money and they would lose. What kind of crap is that? Are they making a market or not?

Too many outside traders were making too much money. So they changed the rules.

Their algorithms work perfectly now to take advantage of fear and greed of the masses. They know just how much to move price to make you cave in and give up, or feel like you're missing out and get you in, then reverse it. They are masters of exploiting weak hands. Getting caught up in the middle of useless plundering is no fun.

There is almost no such thing as a trend anymore in forex; until there is and you wonder how you missed it.

I still occasionally trade forex, but trading stocks and index futures makes so much more sense, I find myself going for days without seriously even considering forex anymore.

The lure of forex is being able to start with so little money, high leverage and it's easy to learn how to push a few buttons to make trades.

Unfortunately, it is the most difficult market you could choose, and those very same things spell disaster for the newbie: high leverage and being underfunded and little experience.

Save your money and learn to trade stocks and ETF's. Develop a Trade Plan, and trade the simulator with fake money until you can show a consistent profit.

Contemplating making a living from trading is a pipe dream until you've done something; 90% of all traders fail in the first year, and there's some pretty smart people in that group. Trading isn't like other jobs, where you learn all you can, work hard, get the experience, and bing, you're successful. There are no guarantees with trading. It can drive you insane with frustration because it's more than 50% psychological, and not what you think you know.

The key here is that forex is a "trading" vehicle for experienced and advanced traders with lots of tools and computer power at their disposal. Even my two super-fast computers and eight monitors are no match for the mainframe computers used by the banks and hedge funds and currency traders around the world. You and I are just suckers to them; part of a little game they play for amusement on the side of their real business.

Are you a successful trader? If not, steer clear of forex until you are. You will lose your money and learn nothing more than how to push a few buttons.

Forex is no "game" like a video game. It's a pool of sharks ready to feed and eat you alive; always circling your position. You will find yourself on the defense immediately, and it is no fun. Unless you can learn how to join them and go on continual attack, you will lose. Nobody ever made any any real money playing defense. Investors beware -- this is not for you.

I am investigating trading on the FOREX. Their are so many seminars offering this and that, and plenty of warnings on youtube to stay off the ForEx. Research Ive seen suggests 95% of traders fail and go broke, Ramsey says 7 in 10 traders lose money...I'm looking to find and hear from any traders with actual experience who are consistently profitable. Please Help!

Answer
I made good money trading forex during 2005 and 2006, and actually made more than trading stocks and futures because of the high leverage. I was already a successful trader, and this was too good to be true. But then it became real popular and I had to rework my strategy. And then the rules changed.

Forex is largely unregulated and run by the banks. It wasn't enough for them to make money from the newbies. They were taking on too much risk trading against real traders. If I could see their heavy-handed moves and fakeouts and stop running, then others could as well. I exploited their weaknesses and used their strengths against them. They began denying my market orders when it was clear I would make money and they would lose. What kind of crap is that? Are they making a market or not?

Too many outside traders were making too much money. So they changed the rules.

Their algorithms work perfectly now to take advantage of fear and greed of the masses. They know just how much to move price to make you cave in and give up, or feel like you're missing out and get you in, then reverse it. They are masters of exploiting weak hands. Getting caught up in the middle of useless plundering is no fun.

There is almost no such thing as a trend anymore in forex; until there is and you wonder how you missed it.

I still occasionally trade forex, but trading stocks and index futures makes so much more sense, I find myself going for days without seriously even considering forex anymore.

The lure of forex is being able to start with so little money, high leverage and it's easy to learn how to push a few buttons to make trades.

Unfortunately, it is the most difficult market you could choose, and those very same things spell disaster for the newbie: high leverage and being underfunded and little experience.

Save your money and learn to trade stocks and ETF's. Develop a Trade Plan, and trade the simulator with fake money until you can show a consistent profit.

Contemplating making a living from trading is a pipe dream until you've done something; 90% of all traders fail in the first year, and there's some pretty smart people in that group. Trading isn't like other jobs, where you learn all you can, work hard, get the experience, and bing, you're successful. There are no guarantees with trading. It can drive you insane with frustration because it's more than 50% psychological, and not what you think you know.

The key here is that forex is a "trading" vehicle for experienced and advanced traders with lots of tools and computer power at their disposal. Even my two super-fast computers and eight monitors are no match for the mainframe computers used by the banks and hedge funds and currency traders around the world. You and I are just suckers to them; part of a little game they play for amusement on the side of their real business.

Are you a successful trader? If not, steer clear of forex until you are. You will lose your money and learn nothing more than how to push a few buttons.

Forex is no "game" like a video game. It's a pool of sharks ready to feed and eat you alive; always circling your position. You will find yourself on the defense immediately, and it is no fun. Unless you can learn how to join them and go on continual attack, you will lose. Nobody ever made any any real money playing defense. Investors beware -- this is not for you.

FOREX Trading Question?

I read that most people that start out in FOREX do not do well. I started a practice account and looked at trends from the month chart down to the sixty minute chart buying into trends while keeping a good margin. I also read what the indicators do. I started with $3,000 and in a week I have grossed around $600. My question is, it seemed very easy and I didn't know if this is typical or because the account is a demo the results are fixed for results.

Answer
I wouldn't trust "retail forex" practice accounts, as there's a potential incentive for "retail forex brokers" to convince people that they're profitable, even when they aren't, just to get people to send in real money and churn their accounts to 0. In so-called "retail forex", you aren't really trading foreign currencies directly; you're trading an over-the-counter contract issued by your "broker" (not really a broker even because they're your counterparty)..

Of course, it's certainly possible that the simulator is accurate. What I would do is try to verify the results against a third-party source, such as Yahoo's currency calculator. Also, keep in mind that just a week isn't a very long time horizon; you may just have gotten lucky, so you might want to look over a much longer timeframe. Anecdotal evidence seems to indicate that at least 95% of "retail forex" customers lose (you can search the Web for various stats on this, for what that's worth).

Forex is crowded with scams, generally, so please be careful; see also this warning from the CFTC:

http://www.cftc.gov/opa/enf98/opaforexa15.htm

What indicator can be used to confirm it with volume? That actually works well when used with volume Thanks

Answer
Most traders are aware of the two widely known approaches used to analyze a market, fundamental analysis and technical analysis. Many different methods can be used in each approach, but generally speaking fundamental analysis is concerned with the question of why something in the market will happen, and technical analysis attempts to answer the question of when something will happen.

There is, however, a third approach to analyzing a market. It combines the best of both fundamental and technical analysis into a singular approach that answers both questions of âwhyâ and âwhenâ simultaneously; this methodology is called volume spread analysis

What is Volume Spread Analysis?
Volume spread analysis seeks to establish the cause of price movements. The âcauseâ is quite simply the imbalance between supply and demand in the market, which is created by the activity of professional operators (smart money). Who are these professional operators? In any business where there is money involved and profits to make, there are professionals. There are professional car dealers, diamond merchants and art dealers as well as many others in unrelated industries. All of these professionals have one thing in mind; they need to make a profit from a price difference to stay in business. The financial markets are no different. Doctors are collectively known as professionals, but they specialize in certain areas of medicine; the financial markets have professionals that specialize in certain instruments as well: stocks, grains, FOREX, etc.

The activity of these professional operators, and more important, their true intentions, are clearly shown on a price chart if the trader knows how to read them. VSA looks at the interrelationship between three variables on the chart in order to determine the balance of supply and demand as well as the probable near term direction of the market. These variables are the amount of volume on a price bar, the price spread or range of that bar (do not confuse this with the bid/ask spread), and the closing price on the spread of that bar

Which indicator is better for Forex trading: CCI or RSI ?

Are they both leading or lagging indicator?
Please explain
Thank You

Answer
you should never hang your hat on one indicator....If your software can handle it you should have at least 3 indicators + a couple of SMA's and Bollinger bands.

Any one indicator will lie to you at any given time....however they rarely all lie at the same time. So both CCI and RSI are fine charting indicators....they are independent of each other so when both give a positive signal it is usually a good sign.

When I use indicators I chart their trends...not take note particularly where they are.

For example....rising into the so-called over bought range of RSI is bullish...trending out of it is mildly bearish...even though tha actual number is virtually the same.

It takes a lot of study to understand charting....most of it has to be worked out by yourself as books on the subject are often overly simplistic. If you trend the values of the indicators they will be on the leading side, unless of course there is a rapid value change in price. TA is of little help there...but then so is FA.

Consider using the following indicators: Slow Stochastics, MACD, BBWidth, ADX, CCI, CMF, On Bal Volume, RSI...consider the following overlays: 9 interval SMA, 20 interval SMA (where interval is the interval time update), Bollinger Bands and Parabolic SAR.

If you learn these overlays/indicators (it will take 6mo - 1 year to do it properly...or more) both individually and in combination with eachother, you will find your trading improves quite a bit....BUT it takes study...reading helps a little but repeated case studies are more helpful as you discover things that books never talk about.

Remember...ALL INDICATORS LIE TO YOU...BUT THEY DON'T DO SO AT THE SAME TIME....A consensus of results is usually quite reliable.

Answer
Accordingly to all the reviews websites I know of, it's a Scam. Check for yourself on forex top ten, forex peace army and forex reviewers.

Is Forex Peace army and forexbastards.com a SCAM ?

Is Forex Peace army and forexbastards.com a SCAM ?

Why would one so called guru need so many forex sites ?


Forexbastards.com | Kingforexsignals.com
Secretnewsweapon.com | Secretforexsociety.com
Forexfreedom.com | Forexdiamonds.com
Forexpeacearmy.com | Forexpeacearmy.org forexpeacyarmy.com are all these site run by a man who knows nothing about trading im starting to think yes ! its all a scam , now i see Dmitri Chavkerov on cnn tv as a con artist and scam !

Answer
TOTAL SCAM ! I LOST MONEY WITH THIS GUY, he just got busted for online fraud by the FBI and other federal agency its in his nature to defraud and pretend to be what he is not. he was found in a tiny apartment , and his financial record reveal he lost most of his small account in trading years ago and almost all of his saving was from sales not trading, proof again he is not a real trader just another sales man selling dreams to new traders looking for hope ! i would not give this fool another penny of my money ! he lies about everything and hides the truth, there are way better alert service company's out there real alert services companies. i give this fraudster a big fat ZERO. he owns a ton of web-sites a classic scam tactic to flood a niche market with your web-sites so no matter what you buy it will still be from the same vendor what a sham !

with a good reputation
what do you guys think of forex.com?

Answer
If you are new at forex, I would suggest Marketiva. It's a very reliable broker that will give you $5 free to start trading.

You can join at: http://www.marketiva.com/?gid=27259

It's also famous for its live support system and multi-language chat rooms.
------------------------------------
Etoro is another good broker to join(you may trade currencies, gold, silver and other commodities as well).

It's well known for its innovative platform, where trading at Etoro is like playing games.

Also, you can receive up to $1000 for your initial deposit. In addition, there are weekly contests where you can earn cash prizes.

Join here: http://www.etoro.com/B641_A15263_TClick.aspx

why is it very hard to make money in forex?

why following all technical indicators person still lose I am tired.

Answer
Your question is about trading, not necessarily forex. Any highly leveraged trading vehicle is going to exacerbate any problems, but the problems are with trading technique. If you're tired, give it up. Just because it seems ideal for your situation or because it seems a great way to make money does not mean you personally are cut out to be a trader. You have to love trading to be a good trader, and you have to love to learn like in any profession. Just because you had the tools and access to an operating room, doesn't mean you would perform brain surgery or engineering. You might as well ask "Why is engineering hard?"

Most technical traders spend their whole lives looking for the holy grail of indicators; there are literally thousands of combinations. There is no best indicator or holy grail. Just find the ones that work for you and a time frame that fits your trading style. And yes, when two or three indicators confirm each other (not conform), there are better odds of success.

But most people never address the psychological side of trading, never address what makes them trade emotionally. Many people never develop a written trading plan, or test the plan or test the plan according to the plan exactly, or trade the plan exactly. Most people never accurately define risk. It comes back to the psychological aspects of trading. Why can't you trade according to a written plan? There's more to it than just hitting the button when a couple of indicators confirm. People fail technical analysis, not the other way around. But people being people, they need an excuse for their failure, and it's much easier to blame an object or method than deep introspection and honesty with oneself.

You'll know what I mean when price comes crashing down against the trend to your previous support or fibonacci retracement and you fail to hit the button according to plan, simply because price movement is in the wrong direction to your emotions. The market is structured in such a way to compel you to act contrary to your own best interest! That is the reason why most continue to buy at highs and sell at lows. But lazy people would rather blame technical analysis and quit before they learn good trading techniques, like buying on dips instead of chasing price or where two indicators confirm.

IF you believe that success/failure is due to luck or external forces like the PPT, TPTB, GS or Ben Bernanke, you will continue to repeat your errors, and your trading career will be short lived and end in disaster. Take the responsibility upon yourself. Own it! This is difficult for many to do. Many people actually believe the future can be known and/or predicted. These are many of the irrational thinkers that blame technical analysis for their failures.

IF you need to be right and have a need to seek to control the market, you are an inefficient decision maker. It won't matter much what method you use because it will be inefficient. But you will do better by keeping it simple so you can control it and not think too much or make complex decisions.

Like fast food, people just want it simple, in one little package, real fast, like right now. Just give me the secret to success and riches; don't make me work or think or decide or learn or, heaven forbid, know myself and be honest with myself and responsible, etc.

It certainly takes bravery to remain skeptical, it takes inordinate courage to introspect, to confront oneself, to accept ones limitations. Scientists are seeing more and more evidence that we are specifically designed by mother nature to fool ourselves.

How else could there be so many fools and idiots, that are actually pretty intelligent?

Blaming technical analysis that is used successfully by so many, that is prevalent throughout the industry, that allows so much more than you've taken the time to comprehend, is like blaming your pencil.

i have been doing a practice acount for a while and know how to read the charts

i am interested in starting with a few hundred dollers and adding a little bit each check

what i dont understand is the leverage 1:10 all the way to like 1:200

what is better why is it better does it effect the pips??

what is recomended for a beginer using small amounts of money??

Answer
Great! Good for you for getting your hands dirty...

You choose your leverage depending upon how much stress you can take.

1:10 means $1 = $10 in your trade
1:200 means $1 in your trading account can control $200

So it does effect the pips.
If you had $1000 in your account with 1:10 leverage - you are effectively trading $10,000
Whereas if you had 1:200 leverage you are controlling $200,000

If you are just starting out, start with the least money possible and the least leverage just to get a feel of trading.

Anyone need help on Forex Trading?

Visit this site and also go through ads in the right side in blue portion
http://www.forexexchange-pk.blogspot.com/

Answer
As a 10+ year Forex trader, here is how I trade to make money...

If you want, you can also follow these steps. I've dumbed it down to the easiest, yet safest way to win in the Forex.

1) Open a live account at http://bit.ly/iPV25O
2) Select AAAFx broker, and open MICRO account with 200:1 leverage.
3) Deposit at least $300 in your account to start.
4) "Add to Portfolio" the top 20 strategies at http://bit.ly/mJiyZV
5) Don't add any strategy that makes less than 10 average pips per trade.
6) ...when adding strategies, set maximum number of trades to 5, and...
7) ...select lot size of 0.1 "mini" lots for each $1000 in your account.
8) It will trade automatically, following all those top 20 strategies.
9) Then sit back, relax and take a vacation as you make easy Forex money.

Are there any online (free) FOREX charts that only banks use? I am NOT refering to OANDA, FXCM, or spread trading services. I need currency charts that show historical graphs for ALL world currencies.

Answer
First of all, if there is such a thing as "charts that only banks use," how would we get access to them? Second, what would keep others from getting the same "charts," i.e., why could we not get access to them? Thirdly, how would we know if there is such a thing as "charts that only banks use," unless we work for a bank, and we're not tellin', because we don't want others to get access to "charts that only banks use." And last, if only banks use them, why would they be free online?

You see, this question is a little confusing. Are you really interested in the "charts," or charting software, or are you more interested in the data feed, and ability to show "ALL world currencies?"

Are you really interested in "ALL" charts or just those used by banks?

Can you really expect to get everything or "ALL" for nothing?

I can give you several websites where you can enter a ticker symbol or pick from a list of currencies one at a time. But how do you know wheter they are "ALL" there, or whether these charts are used by banks?

To get them "ALL" at once, you will have to pay for the data feed, about $100/mo, like everyone else. But you should check with the data vendor first, to make sure that they are supplying ALL of them. Usually, data services are geared to traders, institutions, whatever. It appears you are not interested in the typical data service, but wish to pay some astronomical fee for ALL, and this service would certainly not be offered for free.

But an occasional quote can be had just about any time anywhere that offers quotes. You don't make the distinction about what is so unusual or hard to get about a particular currency quote, or give us any idea what application requires this.

Here is one of the most extensive lists I've seen of currency codes from the CIA World Factbook, but no quotes. These will help you with the symbols once you find that atypical data feed service.
https://www.cia.gov/cia/publications/factbook/fields/2065.html

FOREX TOOLS REVIEWS
http://www.forexbastards.com/forextoolsreviews.shtml

Charting
http://charts3.barchart.com/chart.asp?sym=$DXY&data=A&jav=adv&vol=Y&evnt=adv&grid=Y&code=BSTK&org=stk&fix=

http://news.tradingcharts.com/futures/

Yahoo Currency Converter and quotes
http://finance.yahoo.com/currency

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

Current rate is around 1.350...
Do you think it will hit the so desired 1.360? Or a new downtrend will be formed?
thanks

Answer
Using the Mtpredictor's technical analysis Elliot Wave Principle software, Bsmtprediction provides Forex Traders with FREE access to AUD/USD, EUR/GBP, GBP/USD, EUR/USD, NZD/USD, USD/CAD, USD/CHF, EUR/JPY, GBP/JPY & USD/JPY daily currency forecasts through this website. At Any Time / Any Day (we'll straight away post the signals here in real-time if there's any triggered) 1 hour, 4 hours & daily time frame forecasts are published on this site. The predictions are good from the moment they are published until either it reached the take profit target, hitted the stop loss or another new prediction of the same currency & timeframe unveils on the same / following day. Essentially, the prices shown are for an unknown period.. That's why we encourage you to subscribe our FREE Google Groups newsletter to get the latest signal updates sent to your e-mail from the very 1st minute it surfaces the net..

Forex forecast about the EUR/USD?

What do you think about the eur/usd exchange rate in the short term?

Currently the rate is: 1.3532.

Technically, we see a constant uptrend since yesterday...the last our even was formed the so called "tree white soldiers" which is a potential signal for an uptrend. However I am not big supporter of the "technical analysis" since it shows only the current position of the market, but the price is driven by economic events not by charts.
So, talking about economics, here's the situation about the eur/usd pair:

Euro:
The European Central Bank decided to leave the interest rate unchanged at 3.75% yesterday

USA:
12:30 US Producer Price Index (MoM) (Mar) now:0.6% - was:1.3%
12:30 US Producer Price Index ex Food & Energy (MoM) (Mar) now:0.2%- was:0.4%
12:30 US Trade Balance (Feb) now:$60.50B -was:$59.12B

I think the euro is now overbought and as we know from dow jones: "the history repeats". So I would sell to reach 20 pips around 1.35.

thanks

Answer
Using the Mtpredictor's technical analysis Elliot Wave Principle software, Bsmtprediction provides Forex Traders with FREE access to AUD/USD, EUR/GBP, GBP/USD, EUR/USD, NZD/USD, USD/CAD, USD/CHF, EUR/JPY, GBP/JPY & USD/JPY daily currency forecasts through this website. At Any Time / Any Day (we'll straight away post the signals here in real-time if there's any triggered) 1 hour, 4 hours & daily time frame forecasts are published on this site. The predictions are good from the moment they are published until either it reached the take profit target, hitted the stop loss or another new prediction of the same currency & timeframe unveils on the same / following day. Essentially, the prices shown are for an unknown period.. That's why we encourage you to subscribe our FREE Google Groups newsletter to get the latest signal updates sent to your e-mail from the very 1st minute it surfaces the net..

Hi there,

I've been told that buying eur/usd in the morning - after half 9 - is profitable and selling it in the afternoon after around half 7. So far I have been following this strategy and to be honest I've made a lot of profit. I was just wondering for how long will I be able to use this strategy? In case you are wondering, I meant UK time.

Thank you for your help

Answer
Hi Rufus...

Let us try to help your situation.

From our point of view, this is not a good time to buy Fiber (eur/usd). Our calculation gives a very strong sign that fiber will reach 1,3250, means that the downward pressure will harm your Long position. If you are experienced/advanced in forex, you could do that strategy: Buy then Sell in the price fluctuation, but if you are a beginner, please never do this extreme strategy. To be honest, even if you are a good experienced investor in forex, we will earn you the same alert: Don't buy, but Sell on top failure, then you can sit and relax.

We are Short Fiber on 08 Feb at 1,3704, and now (at this time I'm Typing you this answer), price is at 1.3622. We then put a BEP stop-loss at 1.3700, just in case markets are not in-line with us. We will stay at this may be along the next week, but we will make another decision on Sunday or Monday about the continuation of our position.

Your steps are remembering us when we are still beginner...apology for this..but as investors, we help each other in honesty....

Hope this helps

Also, please have a time to visit my trial website at http://foropts.webs.com/ (but sorry, it's still under construction until mid of 2011, but membership is opened because we based communication on email correspondences)..

SIG

Forex trading advice needed!?

Hey i'm a day trader and I have a demo account with GCI and i'm working on the MT4 platform but my problem is that GCI needs a 2000$ deposit witch I don't have.I need a platform that can give me great charts and indicators ,it needs to work in SA and have a small starting deposit so that I can start with a smallish amount....I know all of you experts are gonna say that I can loos allot of money and so on but I have been on my demo account for a month now and I haven't made a loss yet and I did allot of research all I need now is a platform that fits me...

Answer
Alpari UK is a well known and stable Company.
It's based on MT4 platform.
It has about 50 indicators.
If finally go to MT4 broker email me and I'll send you 1000 more Indicators for MT4.
Hope that helps.

John Koularmanis
http://forextradingtutorials.net

Answer
A "pip" is the last "percentage in point" quoted for the exchange rate.
Example: Canadian / US exchange rate
1.0553...if the rate changes to 10554 it has increased "one pip".
FYI - here $1USD buys 1.0553 $Canadian
Some currencies are quoted to 5 (or more) places after the decimal point, the last place is the pip.
E.g. The Hong Kong dollar: 0.136082, and the Yen is quoted differently, see below.

consider this from: http://madmin.hubpages.com/hub/What-is-Pip-in-FOREX-Trading
A âpipâ stands for âPercentage in Pointâ. A pip is the smallest price movement of a traded currency. It is also referred to as a âpointâ.
For most currencies a pip is 0.0001 or 1/100 of a cent. You may think it is a ridiculously low value. However, take into account that most currencies are traded in lots of $100 000. For that amount a pip is $10.

When a currency moves from a value of 1.4511 to 1.4514, it moved 3 pips. When a pip has a value of $10, you have gained $30.

There is an exception for quotations for Japanese Yen against other currencies. For currencies in relation to Japanese Yen a pip is 0.01 or 1 cent. Then if you are trading USD/JPY in $100 000 lots, one pip will be equivalent to $1000.

How to change the leverage in metatrader from 1:100 to 1:10 ?

hi all
i downloaded and installed metatrader 4.0
after installing i enter my information into demo account with leverage 1:100

i now want to change this to 1:10
where exactly i can do that ?
i don't see any option of changing leverage in metatrader

thanks in advanced

Answer
Dear Alex!

Don't know why you would want to change that and I am not sure it can be done.

To manage your risk, both in demo and live accounts you need to do the following:

1.) decide how much you want to risk on each trade, i.e. 1 %, 2 %, 5 %,
(If you want to risk more, you probably should not be trading Forex)
2.) decide how many pips you want your stop to be (how much do you want to risk)
3.) decide how much each pip is worth, i.e. on the eur/usd paid, a 1.0 full) lot = $ 10.00 per pip
a 0.1 (mini) lot = $ 1.00 per pip, a 0.01 (micro) lot = $ 0.10 per pip.
4.) use the following formula to determine how many lots (micro - mini or full) you can trade:

Amount you want to risk i.e. $ 1,000.00 balance x 2 % = $ 20.00 per trade
divided by stop loss in pips i.e. : 0.0030 (30 pips stop)
equals position size
OK, this is how it looks:
$ 1,000.00 x 2 % = $ 20.00
$ 20,00 : 0.0030 = $ 6,700.00 rounded
$ 6,700.00 = 0.07 lots you can enter for this trade.

No worry about leverage the broker offers.

Hope this helps and good luck with trading.

Sincerely
Louis

Some people said that the Asian session always go up and the EURO session will counter by the opposite (down)... is this theory true

Answer
In Forex, there isn't any up and down like you would have in the Dow or S&P. Currencies are traded in pairs such as the NZD/USD so if the Kiwi goes up, the dollar by definition, goes down. The dollar may go up against once currency and at the same time go down against the other. This in fact happened the other day when the Bank of Japan announced a rate hike - dollar up against the Yen but down against the Aussie.

The market is open 24 hours beginning Sunday afternoon EST until close Friday afternoon. There is a good amount of overlap of hours in each market (Tokyo, Hong Kong, Singapore, London, Europe, New York, San Francisco). There are periods when there is typically more activity than others. Much of it depends on whether any economic announcements are being made that day by one country or another. Quite often, things are a bit slow from about 8:00pm EST until around midnight. At that time, people in the eastern parts of Europe are getting up and becoming active. One currency pair may be very active during European daylight hour and slow later on and vice versa.

If you are considering trading Forex, one of the things you should do is make a table that shows the number of pips each of the majors move during each hour of the day and find the average number of pips per hour for a month. Once you have a platform, it's easy enough to do using historical data although it's time consuming but you need to be aware of when movement typically occurs.

What do these things mean in Forex?

1. What is the exponential next to the price? You know the small number. For example CAD/JPY will say for price: 76.55^4.
2. What is the big number inside the little boxes? For example for AUD/CAD the price is 1.03, and for buy it says 82^7.
I'm guessing it may have something to do with the volatility or spread but it tells me the spread already in yet another box, so I just don't know. Thanks!

Answer
It would help to know which website or platform you are looking at, or which quote system or brokerage site. Not having that, I'll guess.

1. The "exponential" next to price is the spread between bid and ask price. The other number is the correct price for the CAD/JPY.

2. Except for a few cross rates, most currency quotes have four decimals, e.g.
GBP/USD 1.5692
EUR/USD 1.3485
AUD/CAD 1.0382

The "82" for the AUD/CAD is simply the last two digits of the quoted price. It is too difficult to read 1.0382 quickly (also more difficult to remember), and much easier to read the last two two digits "82" at a glance. Plus, from the old days of pit trading, that's how they would yell the order (or use hand signals) across the trading floor, "Buy at 82," would be their bid. Also, the 1.03 part doesn't change much during the day, maybe not at all, so it is redundant and understood. The pit traded S&P futures are still traded this way today.

FOREX related

1.EUR/USD - Euro/U.S. Dollar
2.GBP/USD - Great British Pound/U.S. Dollar
3.USD/CHF â- U.S. Dollar/Swiss Franc
4.USD/JPY â- U.S. Dollar/Japanese Yen
5.USD/CAD â- U.S. Dollar/Canadian Dollar
6.AUD/USD - Australian Dollar/U.S. Dollar
7.EUR/GBP - Euro/Great British Pound
8.EUR/JPY - Euro/Japanese Yen
9.EUR/CHF - Euro/Swiss Franc
10.GBP/CHF - Great British Pound/Swiss Franc
11.GBP/JPY - Great British Pound/Japanese Yen
12.CHF/JPY - Swiss Franc/Japanese Yen
13.NZD/USD - New Zealand Dollar/US Dollar
14.EUR/CAD - Euro/Canadian Dollar
15.AUD/CAD - Australian Dollar/Canadian Dollar
16.AUD/JPY - Australian Dollar/Japanese Yen
17.EUR/AUD - Euro/Australian Dollar

NOTE: Of the above 17 currency pairs, six of them are deemed the âmajor currency pairsâ in the FOREX market because they account for about 80 percent of FOREX transactions:

1.EUR/USD - Euro/U.S. Dollar
2.GBP/USD - Great British Pound/U.S. Dollar
3.USD/CHF â- U.S. Dollar/Swiss Franc
4.USD/JPY â- U.S. Dollar/Japanese Yen
5.USD/CAD â- U.S. Dollar/Canadian Dollar
6.AUD/USD - Australian Dollar/U.S. Dollar

As you can see, there is a currency on the left and one on the right. The one on the left is referred to as the base, and the one listed on the right is known as the cross. The format, once again, is as follows. BASE/CROSS, or EUR/USD. The EUR is the BASE and the USD is the CROSS.

TERMINOLOGY:
â¢PIPS- Price Interest Point. This is the smallest unit price for any Foreign Currency.
â¢LOT- A lot of currency is one denomination for a trade (100K or mini account). This is similar to purchasing one stock or one contract in the futures market.
â¢LONG to buy
â¢SHORT to sell
â¢BID-The price at which you sell
â¢ASK-The price at which you buy

Price Interest Point - (PIP)
Profits are made in the FOREX by gaining PIPS. A pip is the last digit from the decimal point. This value is 1/100th of a cent. You may now be asking yourself, how do I make money off of 1/100th of a cent? The answer is leverage. The FOREX market is highly leveraged and should be respected. That said, it can also provide for a tremendous return on your investment. The average leverage in the FOREX is 100 to 1. Basically this indicates that for every dollar you invest in a trade you are controlling $100 of value.

Calculated PIP
Calculated PIP â shows the Price Interest Point (PIP) value for the selected currency pair based upon your trading account margin. For example, a standard 1 percent margin trading account controlling $100,000 in currency would show the EUR/USD with a PIP value of 10.
PIP VALUE-Fixed or Floating
FIXED- When the USD is the cross currency (right side of the pair), the PIP value is fixed at $10 in a 100k account.
FOATING- When the USD is the base currency (left side of the pair), the PIP value is based upon the exchange rate of the cross currency (i.e., USD/CAD.). Also, the PIP value is floating when the pair consists of foreign currencies (i.e., EUR/ GBP).

LOT
A lot is the normal unit of trading in the FOREX market. Trades are made in lot increments, similar to share increments in the stock market.
Standard (or 100k) FOREX account- has a 100:1 leverage ratio
1 LOT= $1,000 investment= ratio leveraged 100 to 1, which = $100,000 in buying power.
Mini FOREX account- has a 200:1 leverage ratio
1 LOT= $50 investment= ratio leveraged 200 to 1, which = $10,000 in buying power.

I've been reading on this stuff and I wanna know more, I know there's a lot more to know than bid and ask, I've set up a demo account and been doing pretty bad haha, I just wanna know what advice can you give me for me to get a better understanding of how all this works? what's your method of doing things? you don't have to give me your secrets haha just tips on how to better my chances
how do you become a pro without first being a amature?

Answer
My advice is to read books on trading, forex is just another market. It trades like a commodity. You'll be surprised at the number of books at your local library, or through the interlibrary loan system.

"Which Is Better, Buy-and-Hold or Market Timing?"

"Do You Have What It Takes to Be a Market Timer

The Beginner's Bible in Technical Analysis is:
Edwards & McGee"Tech. Anal. Of Stock Trends"

Droke, ClifTechnical Analysis Simplified

Kahn, Michael N.Tech. Anal. Plain & Simple

Kamich, Bruce M.How Technical Analysis Works

Lefevre, EdwinReminiscences of a Stock Operator

Lofton, ToddGetting Started in Futures

Lowenstein, RogerBuffet (Warren)-The Making of a Capitalist

Rotella, Robert P.Elements of Successful Trading, The

Wasendorf, RussellAll About Futures

Slutsky, Scot and Darrell JobmanComplete Guide to Electronic Futures Trading, The

Extraordinary Popular Delusions and the Madness of Crowds" by Charles Mackay

The Intelligent Investor, by Benjamin Graham



http://money.howstuffworks.com/...

http://www.investopedia.com/

There is no one indicator, there is no get rich quick scheme, there is no pot at the end of the rainbow.

Like any vocation, it takes hard work, lots of study, and the testing of your theories, learning what makes you tick, learning your own particular time and stress levels, and fighting the emotions of fear, greed, and loss of hope.

Most traders spend their entire time looking for the Holy Grail of indicators, and that's why 85% of all traders fail.

Your success or failure lies within you, not some indicator.

Get a mentor or trading coach.

Develop a Trading Plan.
Entry Price, Price Target, the max Iâm willing to lose, the time frame, the size of the position, and the date of any reports on the news.

Create a written plan. A plan is composed of two primary parts:
1.The blueprint is a preliminary action plan developed before trading begins. Review the plan every few weeks. It is a living document that evolves over time. I always revise my plan for the summer trading season since summertime market conditions call for different strategies.

2.The Journal is a day-to-day microadjustment of the blueprint. This is the document that requires you to adhere to your plan. Emotional aspects of trading on a daily basis are written in here. Questions such as: Did I follow my blueprint today?

Have 3 things absolutely clear in your head before doing a trade:

1.Why are you making the trade.
2.Where are you going to get out on the profit side?
3.Where are you going to get out on the loss side?

Develop conviction.
The market has little room for arrogance or ego.
Avoid holding positions over weekends.
Scared money never wins.
Size the trade.
Avoid chaotic stocks, like penny stocks
Do the research.
Forget about chat rooms.
No clarity, no trade.
Day trade the ranges and swing trade the trends.
Donât make it rocket science, âcause it ainât.
Know thyself.
Inspect what you expect.
Update and review weekly.
Donât lie to your spouse or significant other.
Be humble and admit mistakes.
Never let emotions control you.
Avoid stock tips.
Never take home a loser.
Learn to lose.
Make trading a habit.
Never let your attitude suffer.
The market is always right.
Average winners, not losers
Never let a winner turn into a loser.
Take profits often.
Never mix disciplines. If you open a day trade, close a day trade.
Never try to trade back a loser. Donât fight the tape.

Quick Questions about forex for a beginner?

How much volume = $1 US?
.01,.10,10, etc?
What happens if my profit shows negative?
ex: What if I have $25 in the account and the profit goes negative to let's say -$50. Will the broker automatically sell it or am allowed to keep it until it goes back up? Will I have to pay the broker the difference of $25?
Thank you
thank you aaron brown

Answer
$1 US per pip of market movement is 10,000 units, which is 0.1 standard lots, which is 1 mini lot, which is 10 micro lots.

If you are rather asking how much Forex you can buy for $1, well, that depends on your leverage. If your leverage is 1:20 then I think the margin requirement is $25 dollars per micro lot, that's how much your broker will put on hold in your account just to open the trade.

Your profit in your account cannot go negative, your broker will not allow it, they will close your open trades before that happens, which is called a "margin call".

Sounds too complicated? Exactly. That's why I said in my last reply, you should consider some of the strategies at http://comefollowme.zulutrade.com/Performance.aspx as they can help you get started with the Forex.

$1.45 for 1 GBP. It used to be $2.00. If it went back to $2.00, it would be an increase of 38%. Does my investment really just increase in value to 38%? What sort of hidden fees are there, etc. And how likely is it that GBP would even return to that value.

Answer
The leverage for Forex is 100:1. This means that you only need a $1000 to control an amount $100000.
1 pip is 0.0001 and is worth USD $10 for GBP/USD currency pair. If GBP/USD goes up from 1.45 to 2, it will be a profit of 5500 pips * 10 = USD $55000. This makes the return to be 5500% for the initial margin of USD $1000.
There is no commission for Forex but you need to take care of the bid/ask spread in the trade. When you roll over to the next day, you will either receive interest or pay interest depending on which currency have the higher interest rate. If you buy the currency with the higher interest, you will receive interest when you roll over.
IMHO, it is unlikely will GBP/USD return to $2 level in the short term as the economy outlook is uncertain.

how does forex market work?

Answer
The forex market works as a financial instrument to act as medium with which international trade is actioned.

The foreign exchange (currency or forex or FX) market exists wherever one currency is traded for another. It is by far the largest financial market in the world, and includes trading between large banks, central banks, currency speculators, multinational corporations, governments, and other financial markets and institutions. The average daily trade in the global forex and related markets currently is over US$ 3 trillion. As such, it has been referred to as the market closest to the ideal perfect competition.

Unlike a stock market, where all participants have access to the same prices, the forex market is divided into levels of access. At the top is the inter-bank market, which is made up of the largest investment banking firms. Within the inter-bank market, spreads, which are the difference between the bid and ask prices, are razor sharp and usually unavailable, and not known to players outside the inner circle. As you descend the levels of access, the difference between the bid and ask prices widens (from 0-1 pip to 1-2 pips for some currencies such as the EUR). This is due to volume. If a trader can guarantee large numbers of transactions for large amounts, they can demand a smaller difference between the bid and ask price, which is referred to as a better spread. The levels of access that make up the forex market are determined by the size of the âlineâ (the amount of money with which they are trading). The top-tier inter-bank market accounts for 53% of all transactions. After that there are usually smaller investment banks, followed by large multi-national corporations (which need to hedge risk and pay employees in different countries), large hedge funds, and even some of the retail forex market makers. According to Galati and Melvin, âPension funds, insurance companies, mutual funds, and other institutional investors have played an increasingly important role in financial markets in general, and in FX markets in particular, since the early 2000s.â (2004) In addition, he notes, âHedge funds have grown markedly over the 2001â2004 period in terms of both number and overall sizeâ Central banks also participate in the forex market to align currencies to their economic needs.

There is no unified or centrally cleared market for the majority of FX trades, and there is very little cross-border regulation. Due to the over-the-counter (OTC) nature of currency markets, there are rather a number of interconnected marketplaces, where different currency instruments are traded. This implies that there is not a single dollar rate but rather a number of different rates (prices), depending on what bank or market maker is trading. In practice the rates are often very close, otherwise they could be exploited by arbitrageurs instantaneously. A joint venture of the Chicago Mercantile Exchange and Reuters, called FxMarketSpace opened in 2007 and aspires to the role of a central market clearing mechanism.

Although exchange rates are affected by many factors, in the end, currency prices are a result of supply and demand forces. The world's currency markets can be viewed as a huge melting pot: in a large and ever-changing mix of current events, supply and demand factors are constantly shifting, and the price of one currency in relation to another shifts accordingly. No other market encompasses (and distills) as much of what is going on in the world at any given time as foreign exchange.

Supply and demand for any given currency, and thus its value, are not influenced by any single element, but rather by several. These elements generally fall into three categories: economic factors, political conditions and market psychology.

is there any people hwo understand in foerex il give him 200 euro and than he give me 50 -50

Answer
he give you 50-50 what?

your question does not make sense; try again

here are the current conversions

http://finance.yahoo.com/currency

How do I set up forex currency pairs to watch in my Yahoo Finance page?

I just started trading Forex pairs and I need to be able to collect price data for the last 10 time periods (hours, days or weeks) so that I can input this information into my trading platform to give me an idea on where the price of the currency pair will move next.

Can anyone tell me how to get this info into my yahoo finance page so that it updates with the movement of the currency pairs?

Any suggestions will be greatly appreciated.

Thanks in advance!!

Patrick

Answer
Hi Patrick,

I haven't seen a solution to capturing and recording actual prices for the past X time periods. You can dowload the data from piptrader.com.

A better solution might be to have a programmer crank out an EA for you that would do that for you. (I am surprised that the solution that you are using didn't think of that as part of their application rather than request you to enter 10 sets of data into a calculator).

I pretty much accomplish the same thing by simply monitoring a couple of moving averages and watching for them to to cross and both maintain a steep angle. This indicates the possible beginning of a reversal.

I would be happy to send you a summary of the moving averages that I use and how I use them. It might be interesting to compare this to the signal that you are getting from your K-F calculator......and it is free.

Paul

If trillions of dollars gets traded back and forth on a daily basis, it doesn't make any sense that everyone has to pay a spread of 0.03%, because that is a lot of money that is disappearing from everyone's pockets, a billion dollars a day, and even if they did all have to pay it, it has to be going to someone. Someone who is able to trade for free because he is the one who keeps the profits of the difference between bid and ask. Who is that someone?

I ask because I have created an adaptive trading method that only works with horribly low spread. Too low for me to use, but it must be horrifically valuable to SOMEone out there. And when I say it is adaptive, I mean that there is no a priori strategy, it looks at the last 63 days every 2 weeks and decides on the trading rules it will apply over the next two weeks from that alone, so it isn't adapted to any future data; it's not cheating. Operating on the USD/JPY from July 1, 2007 to Feb 13, 2009, these are its results from one run (since it contains random variables, if you ran it again on the exact same data you'd get different numbers, but the same SORTS of results):

Commission=0.02:
Total gain=1.9586666009107498e-001
Total commissions=4.3467080397738096e+000

Commission=0.01:
Total gain=1.4452129891615770e+000
Total commissions=2.5255991687861270e+000

Commission=0.0079:
Total gain=6.0134531854447415e+000
Total commissions=1.3535088531109761e+001

Commission=0.005:
Total gain=8.3681903017587498e+007
Total commissions=2.2229280168087495e+008

Commission=0.0029:
Total gain=5.3964686183550566e+012
Total commissions=6.6395560659541475e+012

Commission=0.0019:
Total gain=3.7134772078865466e+017
Total commissions=2.0657410633892125e+017

Commission=0:
Total gain=4.7437229016568531e+049
Total commissions=0

Note that 5.5e+026 is the computer's way of expressing scientific notation, and that example would be 5.5 times 10 to the 26th power.

As you can see, it works astronomically well with as low a spread as possible, but nothing that is given realistically by any brokers to small fish like me.

--------------------
The answer I will not accept:

"there would be no one willing to facilitate trades if they didn't get to take a cut"

Obviously. I'm asking if there's anyone who takes a smaller cut. Or maybe a cut that doesn't go up with trade size - after all, buy stocks with a stock broker, and it's usually 5 or 10 dollars per TRADE. But it doesn't matter what the trade size is. But with a spread on the forex market, with double the trade size, it's double the commission. And like I said, whoever IS pocketing the difference, surely HE must be able to trade without a spread since he's the one who pockets the difference! Certainly this would be worth something to THAT person. It is fundamentally impossible for everyone to lose that money when they trade because it GOES somewhere, and it certainly doesn't COST that much to keep the markets running. It doesn't cost anyone anything for me to enter in an electronic order to trade 300 thousand dollars for 30 million yen and for it all to be carried out by computers but I lose about 100 dollars each round trip in the act of doing so. Maybe at the very least there's some group of people who pay, say, a million dollars a year for however much trading they want, in lieu of spreads. This trading method would make a lot more than that million dollars.
Bill Q - of course if as you say, it's not being collected by one single group but by multitudes of middlemen, that could be a problem. But the thing is, it doesn't really need to be ZERO - it would need to be about a sixth of what the best brokers I can find charge to work reasonably well - and as you can see from the list above, the less percentage they charge, the more actual commissions are actually collected as well so it would be in their best interests to consider it.

The thing is, that if they're offering .03% per trade, that means they're happy with a profit of a mere 3 dollars for one USD/JPY lot (10000 USD against however many JPY that is equivalent to). Or even smaller scale, they're willing to settle for a dollar or so with one MXN/JPY lot (mexican peso). Yet they insist on 3000 dollars of profit for me to trade 1000 lots. No middleground at all! If they'd only settle for a mere 300, we could all make SO much money! But WHO would I talk to about possibly doing this?

Answer
The people who are "pocketing the spread" are not pocketing the whole spread. They have to pay for the computers, their offices, their staffs, etc. They only pocket what's left over after that. Certainly if you are making big trades, they should charge you a lower spread, but they still have to charge you some spread.

ISEQ shares trading ireland?

Answer
Decide first. These are the questions. 1. How much risk. In day trading a good broker requires around 10,000 minimum loss cushion. You have to have the ability to lose 20,000.00 if you are wrong. 2. How much do you need to make? Reality in trading is setting in presently. The base stations for United Nations average families make 9200.00 per year. They shop exclusively at bargain, warehousing, and local friends. 3. What is your cap to make without interrupting your friends, family or neighbors. This one is easy, Swimming pool requires caps. Guess 100,000.00
4. Beautification tax options. Do you spend well, do you have ideas within local business, and do you interact with the community to learn your bank requirements. Good educations start with a permission from good bankers of 70,000.00 per year, to spend on the community.5. What stocks do you intend to support if necessary? You might want to be interested in their products or service.
Start with training sites, games, activations are available at minimum coaching risks, around 3% risk is typical if you make mistakes. This is ordinarily around 200.00 loss per mistake on a reputable site. Make sure your site is open in insured client actions. E-mail should respond with courtesy if you want questions answered. Get those details and stay within your bankers recommendations up to 30,000.00. If you go higher make sure you are informed what to do. Books
Ben Stein advertising, Goldstein Economics, Kreuger properties, Gore federal rules, and Ministry of Finance european nation of your relatives or affiliates. Sites wws, forex, zachs, tdamerican, lots more on these sites, ask the bank is a good idea here. Buy lowest you can find, sell soon enough to be interesting around 2 weeks to get a look at reactions. Study charts and learn some time factors of the days trade that are interesting to you. Chat with the site members for top ideas.