Does anyone know of a FOREX trading group or club inside Chicago, IL.? A group particularly centered around www.forex.com , www.fxcm.com or/and www.forextv.com

Answer
Check out this group here.
http://forextrading.meetup.com/39/?gj=sj2
They have about 121 members in Chicago and meet monthly discussing Forex. You can make quite a few good connections here.

Good luck.

where can i find the best usa forex forum?

you can also get your own free $100 today for more details visit http://bestdataentryjobs.tk/

Answer
Babypips Forum
Forex Factory
Dailyfx Forum

These are the top forex forums I regularly visit, simply because they are the best.

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)

US Dollar Index - Against Which Day Trading Forex Currencies Has The US Dollar Rallied?

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.

Answer
Good evening Paul,
Not sure if this is a trick question?! Forex trading education is simply education in how to trade foreign exchange. Any such educational material is likely to consider a whole range of elements, such as technical indicators, pricing patterns, leverage, and the trading psychology.

Unfortunately, with such a broad question, it is difficult to provide a more targeted response. I would suggest that you read up on Forex trading if it is of genuine interest, and then come back with a more refined question that the Y! Answers community may be able to help you with.

Yours sincerely,


Christopher Kelly

how to make sure investor at forex trading?

Investor want fixed income. That's the character of investor at my country. I am looking for investor now, but my business at forex trading firm. how to make sure the investor for investing at forex trading? If I advertise , what is the best strategy or model ?

Answer
Fixed income is not possible in forex. It all depends on market movements. You can have a strategy- you can make trading targets for example how many hours to trade, income per day target, trading strategy , use trading tools, etc.In this way you can attract customers for investing and can assure your customers fixed income as per their targets.
Be careful while trading with market movements.

Q. Just one question, I read this on their web page:

If you want to purchase $100,000 of USD/JPY at 100:1 leverage, the money required is 1%, or $1000. The other $99,000 is collateralized with your remaining account balance. You pay no interest.

What does that mean? That in that case I would owe them $99000?

Thank You.
Only people who have actually traded there. Thank You

Answer
If you are talking about the Forex spot market it works like this (Forex futures is a different animal).

Let's say that you open an account for $10,000. You could take 10% of that (this is called your margin) or $1000 and enter a position that allows you to control $100,000 of the USD/JPY currency pair (this is called 1 "lot") using the leverage that you mentioned of 100-1.

(Now let me point out right away that the USD/JPY is an extremely risky and volatile currency pair and I would personally consider 10% to be too high of a margin.)

The only money that you have at risk in your account is the $10,000 in your account. If the price of the currency were to move far enough against you the broker would initiate a margin call and close out your account and you would lose your entire $10,000.

Here is how the profit and loss works. The current price of the USD/JPY that you bought is 112.82. If the price increases to 112.83 it is said to have moved 1 "pip" and your account balance would increase by $8.91. If the price had moved to 112.81 you would have lost 1 "pip" and your account balance decreases by $8.91.

As I mentioned the USD/JPY is very volatile. It would not be unusual for it to move by 20 or 30 pips, or more, in a matter of minutes. (And don't forget...it's moving while you are sleeping.) I don't think I could sleep very well with a position like this.

Now the other interesting feature with the USD/JPY is that for one "lot" you would receive a daily interest payment of $11.91. This occurs regardless of the price of the currency pair and you receive it 7 days a week. (triple interest on Wednesday to make up for the weekend).

In closing the Forex market is very risky. It is very important to study the market and know exactly what you are doing before getting involved. And never, never, never trade with money that you cannot afford to lose.

I suggest spending some time at www.babypips.com for the absolute best training on the Forex market.

Good luck and be careful.

Paul

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 would really like to learn the fundementals of trading in the forex market. i wanna know if there is a place to learn or if anyone does trading can teach me some basics...and is it a profitable form of practice???? thank you. you can e-mail me if there is not enouh room my e-mail adress is metalic09@yahoo.com thats Zero nine.

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

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

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

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

Further complicating the problem is the large number of Forex scams on the internet. Most Forex websites are of questionable honesty.

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

What is the meaning of the 4 majors (EU,GU,UC,UJ) and 3 minors ( UCAD,AU,NU) currencies in the FX market?

I was reading about the FX market, and I can't figure out what they mean when they say there are 4 major (EU,GU,UC,UJ) and 3 minor ( UCAD,AU,NU) currencies. What do the symbols mean?

Answer
FOREX â Foreign Currency Exchange

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

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

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

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

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

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

Calculated PIP
Calculated PIP â shows the Price Interest Point (PIP) value for the selected currency pair based upon your trading account margin. For example, a standard 1 percent margin trading account controlling $100,000 in currency would show the EUR/USD with a PIP value of 10.

PIP VALUE-Fixed or Floating
FIXED- When the USD is the cross currency (right side of the pair), the PIP value is fixed at $10 in a 100k account.

FOATING- When the USD is the base currency (left side of the pair), the PIP value is based upon the exchange rate of the cross currency (i.e., USD/CAD.). Also, the PIP value is floating when the pair consists of foreign currencies (i.e., EUR/ GBP).

LOT
A lot is the normal unit of trading in the FOREX market. Trades are made in lot increments, similar to share increments in the stock market.

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.

TRADING HOURS (EST)
â¢Trades 24 hours a day, 6 days a week. The market is open from Sunday at 5pm EST to Friday at 4pm EST.

http://www.babypips.com/
http://www.dailyfx.com
http://www.fxstreet.com/rates-charts/usdollar-index/
http://www.forexpeacearmy.com/

The best way to learn is from a book. You can find three different eBooks here:

http://members.cox.net/axiom11/#Info
Insider Forex Secrets

http://members.cox.net/axiom11/page2_links.htm
Forex Trading-Revolution To Home Based Internet Business
Forex Trading Strategies

There are many eBooks listed here, so to find the one you want, just hit Ctrl-F (for Find) in your web browser to find "forex".

is it similar in any way to futures.what is forex how is it traded any details

Answer
Commodities, futures, and Forex are all very similar. I've traded all three. In the end, I decided to go with the FOREX, and I stopped trading commodities and futures for the most part. The reason is this: with the Forex, the market is open 24 hours a day. So you can trade all day, and all night, and no need to worry so much about your trades still being open when the market "closes" each day. Secondly, the FOREX is a massively larger market than futures and commodities, which means your orders get filled faster, so there is less slippage. This happens because, each time you try to short sell, someone else has to be buying, for your order to get filled. And if you try to buy, someone else has to be selling, for your order to get filled. In smaller markets, this can cause a few moments of delay, while you wait for your order to get filled, and during that delay, you can lose money. But in the Forex, there is pretty much never any delay whatsoever, because the market is SO huge, there is always sellers and buyers. And finally, with the Forex, there is no "limit" to how much the market can move each day. With the futures and commodities, if the market moves up or down a large amount in one day, it "tops out" or "bottoms out" and the market will NOT move down anymore that day. And if you happened to have put in a buy trade, and it goes down and bottoms out, you then try to "sell" to get out of it, and guess what? You can't sell! Because the market bottomed out! Nobody can sell! Not that day, anyway. You have to wait till tomorrow to try to get out. And sometimes, it opens the next day, already bottomed out again the instant it opens, and you still can't get out. And you end up bottoming out several days in a row, all the while, you can't exit your buy trade because the market keeps bottoming out. So you lose all your money, and nothing you can do about it. But with the Forex, the market doesn't bottom out or top out. You can always exit your trades, anywhere, anytime. Much safer. Also, with the Forex, much more volitile, and higher leverage.

Anyway, if you are looking for a good Forex strategy, there is a new service where you can browse through and sort through an index of thousands of Forex strategies. I highly recommend it. As a 10 year Forex trader, I've found that the strategies on this website are better than many of my own, and so I've almost totally switched to using them. I'll post the link below in my references. I hope this information was helpful to you!

What are lots in Forex?

Q. I have recently been researching Forex sector and have found the term "lots" coming up again and again but don't know what this refers to. Does anyone know?

Answer
A lot represents the standardized quantity of a financial instrument as set by an exchange or a similar regulatory body.

The standard lot in Forex represents 100,000 units of the base currency.
Because currencies are traded in pairs (i.e. EUR/USD) the lot represents the volume of the base currency.

As such, for 1 standard lot of EUR/USD you are basically trading 100,000 EURs

References:
http://www.investopedia.com/terms/s/standard-lot.asp
http://www.xglobalmarkets.com/lots-trading-and-pips-calculation/

Answer
Forex Tracer -- It's a technical masterpiece of forex automation (similar to Forex Factory pip snipers but in a league of its own). Not many know about it, and at one time was part of a secret project. But the fact is, those who use it swear by it's raw power.

The data mining engine is one of the best I've seen in forex day trading and is still quite simple to use. For profitable trades in forex very few 'pip snipers' come close to this Tracer.

What is more accurate economic calender thats showsthe importance of economic news? Forexpros or Forex Factory?

Q.

Answer
Hello,
Forex Factory is faster in my opinion..

Sometime ago I found free MT4 custom indicator called Fx Pulse that shows actual Forex news directly on my chart (source of News: Forex Factory) in a second after its release. So now, you don't need to spend extra time browsing Forex News on different sites. Also that free plugin has trend detector (detects the trend for each time frame) what I found very useful.

Fx Pulse totally free to download and use. Grab your cope at http://www.forexeasystems.com/forex-analysis-tool-fx-pulse

I'm a trader in training, (self-training that is.) I'm an average individual, who has decided take a new path.
I've been doing a lot of reading, articles, trading 101, anything useful. Now I'm not a mathematician or someone who could excel at many things, immediately. But I am determined and somewhat ambitious. So, I would be very thankful to anyone who has the patience and knowledge of trade forecasting.
I've learned to at look charts and use easy simple methods. However, I still don't know how to use these methods to calculate and make chart forecasts.
Anyone care to help?

Answer
I've read a lot about Forex, but I've never seen a proven profitable forex forecasting strategy, despite the claims of some scam web sites.

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

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

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

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

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

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

Read the warnings in the links below:

The best Forex Educative Web Sources?

Q. Let's share the most important and useful forex sources which are important for traders, both beginers and professionals, so which are your favorites?

Answer
Forex generates more spam/scam posts than any other topic in Investing. There are probably 100 mediocre/bad/misleading/deceptive sites for every legit site.

investopedia
babypips (maybe)

Pretty much everything else is commercial rubbish trying to scam money out of novices, plus a few folks trying to promote their own site or blog.

If you see any of the following terms in a question, it is almost certain to be a feeder question for spam/scam answers that will follow:

- forex robot
- forex expert advisor
- forex managed
- forex strategy
- forex tips
- forex intraday
- binary options

The sad truth is that most individual investors lose badly at forex. There is no way any free or cheap site will overcome the vast advantages of the multinational banks that dominate trading.

Q. I am going to invest & need your valuable suggestions.

Answer
you can check your options in this site. enables forex trading anywhere in the world where internet connection is available; offers background information for the Forex market, Guided-Tour, seminars, one-on-one training, CHAT, telephone support, as well as other assistance tools, including technical support; enables users to start trading immediately and with no software required to download you may login to your account and trade anytime, from anywhere; allows you to fund your account with your credit card, so you can start trading immediately, regardless of banking work days or hours; And If you are a frequent trader dealing in larger volumes, they offer tailor-made account to suit your exact needs (spreads, leverage ratio, mobile-phone alerts, etc.); also uses the latest highly sophisticated and advanced technologies in order to offer you up-to-the-second quotes.

one unique feature of this site is whether you are a beginner or an experienced trader, for a minimum deposit of $100 which will also form part of your initial capital, they will provide an Account Service Manager (ASM) to be your personal consultant who will serve as your mentor and trading partner, will answer all your technical questions and with whom you can talk live over the phone, email, chat or any form of communication available. your ASM will even trade along with you so that you will get to familiar yourself about how the real trade is done and give you the tips and tricks you need to know and do to achieve a profitable forex dealing.

how can i find live forex quotes in an xml format?

Answer
There are a few free resources that I have found that offer free rate.

One of them is http://ratedata.gaincapital.com

Also there is some free software you can use that can extract the data from metatrader into xml format. Just do a quick search on google for "metatrader data extractor ea".

Q. I want to use Forex, is it all right normal banking account or special one needed, how to register ther does anyone helps me? Thanks a lot
thank you :)
thank you all of you for sharing your ideas and for helping

Answer
If you are a beginner, i suggest you to use Marketiva, which is a very good platform to start trading with and very easy to use.

Marketiva gives you 5$ real to start trading so you don't have to deposit and if you made profit from it you can cash out, this is why it's very good for beginners. Their platform is very easy to use and they have support during trading hours for your questions, doubts etc.

They also have chat channels where you can talk, exchange opinions and ideas with traders of your country or international traders.

To open your account please visit http://www.marketiva.com/index.ncre?gid=3371

Is FOREX (foreign exchange trading) easy to learn and get started in?

Q.

Answer
Having traded the FOREX for some time, I would say that learning and getting started are both easy. Making money however is quite hard. I would go to one of the FX broker websites and look for one that has a free demo account. Start your pretend trading account with a few thousand pretend dollars and when and ONLY when you have doubled it, open a real account with real money. You might lose all of that a few times before you get it right, as psychologically it is harder to trade with real money than imaginary money. Don't quit your day job right away.

The link below will take you to FX Street which is an excellent news site about the FX market, and will give you a list of FX brokers, many of whom can open a free demo account for you. FXCM is one of those brokers, also linked below. This is NOT an endorsement of FXCM. You may need to find a broker in your country of choice, and you should know that you can open an account in almost any currency you want to use as your base currency if you find the right brokers.

You should study up on technical trading, interpretation of chart patterns etc, and if you prefer a fundamental approach study macroeconomics and try to understand what economic events and forces will change the flow of currency.

I would not recommend spending a lot of money on some sort of magic software that supposedly tells you when to trade. I started that way and eventually did better trading without the expensive software than I did with it. The only ones making money with most of the fancy software out there are the ones selling the software. After all, if their software was so good, why do they need to sell it? They should be rich from trading their own accounts.

Also, look on Yahoo! groups for some support groups. They are quite active and can steer you towards group meetings in your area, training seminars, and even have live trading sessions with IM in the middle of the night.

Q.

Answer
They aren't obviously and this is some "you can learn from your mistakes" bs. No professional trader managing real money has a "trade journal".

What is the best Forex robot?

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.

Hi everyone,

I was thinking of creating a blog for forex. But i do not know what to add into it, except for some daily rss feeds from websites and my own trading ideas. Maybe a bit of free ebooks to share. What else do you think i should add into my blog? Thanks.

Answer
I think it really depends on your aim for having this blog...

Some traders keep a blog to remind themselves of the reasons why they enter into trades... they would then obviously keep a journal of their trade entry criteria, and the resultant win or loss.

Others keep a blog to post up useful articles on Forex trading, and earn money from advertisements that are placed on the blog.

In deciding the content you want to add to your blog, think about who your target readers are, and the rest should come naturally:

Are you targetting new traders? Or existing traders?

Or are you targetting readers who are interested in money-making as a whole?

These questions are just some of the many you may like to ask yourself. :)

About trading easy-forex?

Q. I would like to trade currencies online using easy-forex.. but i really don't know much about it..
How much they charge for each trade?
How much fees i should pay every month minimum?
If i make some money from trading will it be transferred to my bank account immediately, or i should cancel my forex account to have my money back?

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

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

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

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

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

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

Read the warnings in the links below:
Source:
http://www.cftc.gov/opa/enf98/opaforexa1...
http://www.smartmoney.com/investing/stoc...
http://en.wikipedia.org/wiki/Forex_scams
http://www.cftc.gov/ConsumerProtection/F...
http://www.cftc.gov/ucm/groups/public/@c...
http://finance.yahoo.com/banking-budgeti...

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