tax for forex trading?
Posted by Ryanita
on
Saturday, May 31, 2014
, under
forex 2013
|
comments (1)
Java
I wish to know about tax for forex trading in USA. Do I need to pay tax if I gain profit from forex trading? what if I lose in forex trading? will government pay me? let's say I gain profit US$ 1000 and the tax is 10%, so I pay US$ 100. but what if I lose US$ 1000, will government pay me 10% also --> US$ 100 paid to me? thanks.
Answer
The government will never pay any amounts until you at first pay some advance estimated tax payment amounts quarterly during the tax year for this purpose and then after the end of the tax year and when you correctly complete your 1040 income tax return and your estimated tax payment amounts are credited on your 1040 income tax return and if that credit amount is MORE than your tax liability is at time during the tax filing season you MIGHT be able to qualify for a REFUND amount of some are all of your estimated tax payments that you did make during the tax year Good Luck.
No, No, and again No. You really do have and need to study and learn a lot about this forex trading at this time in your and how you will have report the transactions on your 1040 income tax return using the consolidated 1099 forms that will make up your statement that you will receive after the end of the tax year during the 2013 tax filing season and 1 of the several 1099s included will be a 1099-B and this 1099-B will have your separate trades listed on it and you will have to use that information to correctly report your transaction on the IRS forms 8949 and then on to the schedule D for this purpose during the 2013 tax filing season for the 2012 tax year income tax return for this purpose.
Specific Instructions for your broker or payee of the proceeds to use to fill out the 1099-B to be sent to you
A broker or barter exchange must file Form 1099-B, Proceeds From Broker and Barter Exchange Transactions, for each person:
For whom the broker has sold (including short sales) stocks, bonds, commodities, regulated futures contracts, foreign currency contracts (pursuant to a forward contract or regulated futures contract), forward contracts, debt instruments, etc., for cash,
Who received cash, stock, or other property from a corporation that the broker knows or has reason to know has had its stock acquired in an acquisition of control or had a substantial change in capital structure reportable on Form 8806, or
Who exchanged property or services through a barter exchange.
Forex Taxation Basics Aug 17, 2012 ... Trading forex can make for a confusing time organizing your taxes.
While trading forex can be a confusing field to master, filing taxes in the U.S. for your profit/loss ratio can be reminiscent of the Wild West. Here is a break down of what you should know.
Read more: http://www.investopedia.com/articles/forex/09/forex-taxation
basics.asp#ixzz257qYSFIE
http://www.investopedia.com/articles/forex/09/forex-taxation-basics.asp#axzz257qLuRlv
Hope that you find the above enclosed information useful. 08/31/2012
The government will never pay any amounts until you at first pay some advance estimated tax payment amounts quarterly during the tax year for this purpose and then after the end of the tax year and when you correctly complete your 1040 income tax return and your estimated tax payment amounts are credited on your 1040 income tax return and if that credit amount is MORE than your tax liability is at time during the tax filing season you MIGHT be able to qualify for a REFUND amount of some are all of your estimated tax payments that you did make during the tax year Good Luck.
No, No, and again No. You really do have and need to study and learn a lot about this forex trading at this time in your and how you will have report the transactions on your 1040 income tax return using the consolidated 1099 forms that will make up your statement that you will receive after the end of the tax year during the 2013 tax filing season and 1 of the several 1099s included will be a 1099-B and this 1099-B will have your separate trades listed on it and you will have to use that information to correctly report your transaction on the IRS forms 8949 and then on to the schedule D for this purpose during the 2013 tax filing season for the 2012 tax year income tax return for this purpose.
Specific Instructions for your broker or payee of the proceeds to use to fill out the 1099-B to be sent to you
A broker or barter exchange must file Form 1099-B, Proceeds From Broker and Barter Exchange Transactions, for each person:
For whom the broker has sold (including short sales) stocks, bonds, commodities, regulated futures contracts, foreign currency contracts (pursuant to a forward contract or regulated futures contract), forward contracts, debt instruments, etc., for cash,
Who received cash, stock, or other property from a corporation that the broker knows or has reason to know has had its stock acquired in an acquisition of control or had a substantial change in capital structure reportable on Form 8806, or
Who exchanged property or services through a barter exchange.
Forex Taxation Basics Aug 17, 2012 ... Trading forex can make for a confusing time organizing your taxes.
While trading forex can be a confusing field to master, filing taxes in the U.S. for your profit/loss ratio can be reminiscent of the Wild West. Here is a break down of what you should know.
Read more: http://www.investopedia.com/articles/forex/09/forex-taxation
basics.asp#ixzz257qYSFIE
http://www.investopedia.com/articles/forex/09/forex-taxation-basics.asp#axzz257qLuRlv
Hope that you find the above enclosed information useful. 08/31/2012
What time does London Open in Forex?
Slam Long
Since the recent daylight savings. What time does London open tomorrow. 11/4/2013. Is it back to normal?
Answer
Depends o your trading provider. But Normally the Forex market open weekly on Sunday 10:00 pm GMT and closes Friday evening 10:00 pm GMT.
Some Forex providers, will allow you to trade when others are closed, but at a very wide spread.
Depends o your trading provider. But Normally the Forex market open weekly on Sunday 10:00 pm GMT and closes Friday evening 10:00 pm GMT.
Some Forex providers, will allow you to trade when others are closed, but at a very wide spread.
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FOREX Managed accounts?
Posted by Ryanita
on , under
forex 6 per month
|
comments (0)
Lobster Di
Anyone have gripes, complaints? Anyone satisfied with managed accounts? Obviously, more than 1.5 - 2% per month is nothing to complain about...
Answer
I'll be real honest with you. Managed accounts are okay but you can do much better if you spend the time studying the market yourself and learning the trading discipline.
Think of it this way, a managed accountant is not risking his own money, he's risking yours.
You could spend 6 months trading demo accounts, reading technical analysis books, etc. and learn the techniques yourself and do much better than a managed account.
Conservatively with forex you could make 5-10% per month. Using a well developed software tool 20-30% is easily acheivable. Best of luck to you.
I'll be real honest with you. Managed accounts are okay but you can do much better if you spend the time studying the market yourself and learning the trading discipline.
Think of it this way, a managed accountant is not risking his own money, he's risking yours.
You could spend 6 months trading demo accounts, reading technical analysis books, etc. and learn the techniques yourself and do much better than a managed account.
Conservatively with forex you could make 5-10% per month. Using a well developed software tool 20-30% is easily acheivable. Best of luck to you.
is vip forex network (vipfx.biz) a place to swindle and scam people?
alejandro
A month ago. I made a deposit vipfx.biz,
when I try to make a withdrawal from my deposit,
According to this page which must be received within 24 hours,
it's been a month of this withdrawal request and I have not received anything.
I feel I have stolen my money
other friends of mine, who put their money on this site are in the same situation
If someone can guide me regarding this I would appreciate
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.
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.
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Where to get the best forex signals?
Posted by Ryanita
on , under
forex signal providers
|
comments (0)
Peter Mart
How to find the best forex signal providers? how to avoid getting scammed? what to look for and what to expect?
Answer
Well, You are in luck. Here is one of my articles that is addressing this very issue hope it helps:
---
Top 5 Forex Death Traps
It's a well known fact that success for new Forex traders is disturbingly low. Most new Forex traders think it's easy to trade and make money quickly, but they get hit by the cold hard fact that making money trading Forex requires a very extensive range of skills and experience that can only be earned through years and years of learning and trading.
Lack of Experience
Forex is like any other business in the world, it requires experience and hard work. There aren't any special reports or super smart software that can just suck pips and make you money in a few days. No matter how marketers all over the internet try to convince you that you can just use their secret method or robot for overnight success. They are so good at writing down a 50-page sales letter full of complete lies and outrageous claims just to try to convince you how easy it is to make money using their magical software only to get to your pocket and take your cash with a smile on their faces. Only few days or weeks later you realize that you've been scammed again.
But I can't blame you, its human nature. People will always look for faster ways to make bigger piles of cash so blindly that they fall victims for such illusions.
Unrealistic Expectations
If anything sounds too easy and too good, well you guessed it⦠I am sure you are familiar with the term "if it sounds too good to be true it probably is". Most people are so greedy they are not just looking to make money, but they want lots of it and in no time! If you think like that I guarantee you that you will be an easy target for scammers. You should set realistic goals that can be achieved safely without risking your time and money. Like any other business you don't get unlimited cash in your first week unless you are selling drugs!
On the other hand, the beauty of trading Forex is that you can make very good gains every month by taking advantage of leverage. No gigantic 100% returns every month, but a more realistic approach would be 10%-20% return monthly. With that said you should never risk more than 5% of your account in one trade.
Falling For Over-hyped Products
The internet is full of Forex systems, Robots, EAs promising shocking results, only to disappoint hopeful traders. Those trading systems, cheap e-books and "Holy Grail" secrets are for the most part an illusion created by internet marketers with absolutely no experience when it comes to Forex. They are only good at creating a myth and over-hyped products with false claims to get their hands on your hard earned money.
In other words, if it's an EA or a trading Robot just don't bother getting it even for free! It will be a waste of your time. Trust me on that one.
Lack of Discipline
Ever felt like you are more of a gambler than a trader? Even after long years of trading sometimes your emotions takes over and you start trading without any plan just to make up for a loss only to find yourself at the end of the day with a margin call and a blown account. Controlling your emotions is the hardest part when it comes to trading. It sure feels bad when you lose few trades and just go to sleep with a negative trading day. Not to mention how you feel tempted all the time to enter a trade that looks very promising regardless how much you are going to risk and without taking in consideration if that trade you are about to place complies with your trading style and rules.
It takes a lot of skill to control your emotions and to accept the fact that sometimes doing nothing is the best thing to do.
Getting Bad Education and False Information
Learning how to trade the right way and figuring out the correct approach to trade could be tricky, be careful what websites you choose to visit and bear in mind that most of the information out there is deceiving. Always think twice before taking action. There are a lot of honest Forex traders out there with honest and realistic trading strategies and information but they are definitely hard to find. Please take your time Inspecting every word you read, talk to the traders and website owners before getting their services. See if they will ever get back to you and find out if they are just making everything look so easy and pretty or if they are real enough to admit the ugly truth about Forex trading. Keep that in mind before getting too excited about any system, product or service.
Mohamed Rabea - Professional Forex Trader
http://www.HyperSignal.net
Well, You are in luck. Here is one of my articles that is addressing this very issue hope it helps:
---
Top 5 Forex Death Traps
It's a well known fact that success for new Forex traders is disturbingly low. Most new Forex traders think it's easy to trade and make money quickly, but they get hit by the cold hard fact that making money trading Forex requires a very extensive range of skills and experience that can only be earned through years and years of learning and trading.
Lack of Experience
Forex is like any other business in the world, it requires experience and hard work. There aren't any special reports or super smart software that can just suck pips and make you money in a few days. No matter how marketers all over the internet try to convince you that you can just use their secret method or robot for overnight success. They are so good at writing down a 50-page sales letter full of complete lies and outrageous claims just to try to convince you how easy it is to make money using their magical software only to get to your pocket and take your cash with a smile on their faces. Only few days or weeks later you realize that you've been scammed again.
But I can't blame you, its human nature. People will always look for faster ways to make bigger piles of cash so blindly that they fall victims for such illusions.
Unrealistic Expectations
If anything sounds too easy and too good, well you guessed it⦠I am sure you are familiar with the term "if it sounds too good to be true it probably is". Most people are so greedy they are not just looking to make money, but they want lots of it and in no time! If you think like that I guarantee you that you will be an easy target for scammers. You should set realistic goals that can be achieved safely without risking your time and money. Like any other business you don't get unlimited cash in your first week unless you are selling drugs!
On the other hand, the beauty of trading Forex is that you can make very good gains every month by taking advantage of leverage. No gigantic 100% returns every month, but a more realistic approach would be 10%-20% return monthly. With that said you should never risk more than 5% of your account in one trade.
Falling For Over-hyped Products
The internet is full of Forex systems, Robots, EAs promising shocking results, only to disappoint hopeful traders. Those trading systems, cheap e-books and "Holy Grail" secrets are for the most part an illusion created by internet marketers with absolutely no experience when it comes to Forex. They are only good at creating a myth and over-hyped products with false claims to get their hands on your hard earned money.
In other words, if it's an EA or a trading Robot just don't bother getting it even for free! It will be a waste of your time. Trust me on that one.
Lack of Discipline
Ever felt like you are more of a gambler than a trader? Even after long years of trading sometimes your emotions takes over and you start trading without any plan just to make up for a loss only to find yourself at the end of the day with a margin call and a blown account. Controlling your emotions is the hardest part when it comes to trading. It sure feels bad when you lose few trades and just go to sleep with a negative trading day. Not to mention how you feel tempted all the time to enter a trade that looks very promising regardless how much you are going to risk and without taking in consideration if that trade you are about to place complies with your trading style and rules.
It takes a lot of skill to control your emotions and to accept the fact that sometimes doing nothing is the best thing to do.
Getting Bad Education and False Information
Learning how to trade the right way and figuring out the correct approach to trade could be tricky, be careful what websites you choose to visit and bear in mind that most of the information out there is deceiving. Always think twice before taking action. There are a lot of honest Forex traders out there with honest and realistic trading strategies and information but they are definitely hard to find. Please take your time Inspecting every word you read, talk to the traders and website owners before getting their services. See if they will ever get back to you and find out if they are just making everything look so easy and pretty or if they are real enough to admit the ugly truth about Forex trading. Keep that in mind before getting too excited about any system, product or service.
Mohamed Rabea - Professional Forex Trader
http://www.HyperSignal.net
Better Then a Forex Signal Provider?
Vorden J
I Downloaded this program here for free and it comes with everything you need to generate your own forex signals and its free. at the web-site called - > traderchatforum .com any one else have any links to share on a similar free system thanks
Answer
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Be Alerted to the Hottest Picks!Â
Join Emerging Growth Alert NewsletterÂ
By joining the team at Emerging Growth Alert you will be in position to receive stock alerts
 profiling stocks about to move or already in motion. Our alerts are sent in time for you to
research, investigate and make a decision about whether this opportunity is right for you.
You will not be bombarded with junk mail. There is ABSOLUTELY NO OBLIGATION,
and the service is entirely FREE.Â
This is only an invitation for those interested to receive Stocks alert â
ONLY stock alerts. Thanks to those who subscribed.
Please Read:
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Reliable traders for forex trading?
Posted by Ryanita
on
Thursday, May 29, 2014
, under
forex trading
|
comments (0)
Shahnawaz
Hi I am interested in online forex trading.Some sites look abit 'shadey' where can i find reliable reviews of different trading platforms and services? any reliable website? and other resources?
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. There is no website where many players make money.
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:
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. There is no website where many players make money.
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:
How do I come to understand in simple terms forex trading?
Bonibert J
If I have the money, how do I make it grow in forex trading?
Answer
Forex trading is just like any other financial investment tool. Takes money and some smarts and patience. Although their are a lot of perks with forex trading such as 24 hour trading, largest liquid market, and very high volatility, one should still educate themselves as you would on any type of investment. Unless you just do not care about your money.
First I would recommend learning up on some technical analysis. Just search that phrase with "forex" in front and you will find millions of resources. Then educate yourself up on fundamental influence on the currencies. Everyone finds there own knack at trading the forex market so don't blindly fall into a so called forex guru's marketing trap.
Forex trading is just like any other financial investment tool. Takes money and some smarts and patience. Although their are a lot of perks with forex trading such as 24 hour trading, largest liquid market, and very high volatility, one should still educate themselves as you would on any type of investment. Unless you just do not care about your money.
First I would recommend learning up on some technical analysis. Just search that phrase with "forex" in front and you will find millions of resources. Then educate yourself up on fundamental influence on the currencies. Everyone finds there own knack at trading the forex market so don't blindly fall into a so called forex guru's marketing trap.
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Stock market for dummies?
Posted by Ryanita
on , under
forex for dummies
|
comments (0)
Joshua Bak
Hi there,
I'm 20, and have always been interested in the sudden changes, the software, trading, and dual monitors of stock trading, but don't really know the ins and outs.
If one was to start out small, wanting to buy and sell stocks for profit, can one have any advice of where to start, what books to read, and how to prepare? I am very much successful at NFL betting, and wondered how this differed, (sports betting) to normal day trading through forex and indicies.
Josh
Answer
DO NOT READ "INVESTING IN STOCKS FOR DUMMIES" AND "THE INTELLIGENT INVESTOR". Especially the intelligent investor because over half of it is about bonds and its 500+ pages of BORINGNESS and you'll probably give up on investing after 100 pages. I would recommend "technical analysis by Dr.Kirkpatric 2nd edition" because it tells/shows you how to interpret stock charts. By the end of the book you'll be able to make trades simply off of good looking charts and timing the entry with indicators for stock charts and even play a breakout. You probly wont be profitable just reading this book, but chart reading and analyzing them is a huge factor and stocks that have good stock charts usually have good fundamentals. If you wanna get into fundamentals I would recommend FIRE YOUR STOCK ANALYST.
DO NOT READ "INVESTING IN STOCKS FOR DUMMIES" AND "THE INTELLIGENT INVESTOR". Especially the intelligent investor because over half of it is about bonds and its 500+ pages of BORINGNESS and you'll probably give up on investing after 100 pages. I would recommend "technical analysis by Dr.Kirkpatric 2nd edition" because it tells/shows you how to interpret stock charts. By the end of the book you'll be able to make trades simply off of good looking charts and timing the entry with indicators for stock charts and even play a breakout. You probly wont be profitable just reading this book, but chart reading and analyzing them is a huge factor and stocks that have good stock charts usually have good fundamentals. If you wanna get into fundamentals I would recommend FIRE YOUR STOCK ANALYST.
forex trading dummy accounts?
sursa q
hi suzane i like your ans on Forex trading but may i know the sites in which i can open dummy accounts and practice forex trading
.
appriciate your quick response.
Answer
there are thousands of broker which make it more difficult to select one among them. it would be better if you can read some reviews about different broker on dailyforex.com here you will find the facility and features of different brokers and about the things they don't have.
there are thousands of broker which make it more difficult to select one among them. it would be better if you can read some reviews about different broker on dailyforex.com here you will find the facility and features of different brokers and about the things they don't have.
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what is/are the best forex trading software?
Posted by Ryanita
on
Wednesday, May 28, 2014
, under
forex trading software
|
comments (0)
Sheldon.C
Answer
Hi,
perhaps you can be more specific in your question?
forex trading software as in the trading platform? ( for eg MT4 )
forex trading software as in a trading signal service? ( for eg ZuluTrade )
forex trading software as in automated trading? ( for eg One of the many Expert Advisers out there )
Hi,
perhaps you can be more specific in your question?
forex trading software as in the trading platform? ( for eg MT4 )
forex trading software as in a trading signal service? ( for eg ZuluTrade )
forex trading software as in automated trading? ( for eg One of the many Expert Advisers out there )
i need to know the best of "automated forex trading software"?
DuyguSUZ
hi there
i am a forex trader but i am very busy at the same time
i want to use an automated trading software
selling or buying itself while i am working or sleeping
but unfortunately i dont have one and i need to get
can you please advise me a good one which is easy to use and good for me
thank you all
Answer
Since I started using some of these forex trading software, my profits have improved. Before I was trading myself during my spare time but now I can trade even when sleeping or at work.
What you need to do is to test them out until you can understand the strength of each forex automated software. Then do actual trades. That way you minimize risk but have potential for long term profit.
I have tried Forex Autopilot, Forex Assassin, Forex Tracer and now I'm trying Forex Loophole. I do conversative trades and so far none of them have given me a loss on a monthly basis.
Since I started using some of these forex trading software, my profits have improved. Before I was trading myself during my spare time but now I can trade even when sleeping or at work.
What you need to do is to test them out until you can understand the strength of each forex automated software. Then do actual trades. That way you minimize risk but have potential for long term profit.
I have tried Forex Autopilot, Forex Assassin, Forex Tracer and now I'm trying Forex Loophole. I do conversative trades and so far none of them have given me a loss on a monthly basis.
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Cost and places to trade currency?
Posted by Ryanita
on
Tuesday, May 27, 2014
, under
forex broker comparison
|
comments (0)
B
1) Where can you trade currency without actually going to the airport/bank? 2) What is the cost? Is there a certain fee like for trading stocks? I want to trade between US dollar and couple of European countries.
Answer
Any Forex broker
Forex simulator:
http://fxtrader.investopedia.com/Registration/Register4.aspx
Free Charts
http://www.dailyfx.com
Blogs
http://the-forex-trading.blogspot.com/
List of Forex Platforms and software
NinjaTrader platform
http://ampfutures.com/
http://forexplatformslist.com
http://www.marketiva.com/index.ncre?gid=3371
for beginners
http://softwareforexreviews.blogspot.com/2009/10/forex-software-project.html#comments
Compare Forex Brokers
http://www.goforex.net/forex-broker-comparison.htm
http://compare-forex.com/blog/
http://www.fxmaster.net/broker.html
Any Forex broker
Forex simulator:
http://fxtrader.investopedia.com/Registration/Register4.aspx
Free Charts
http://www.dailyfx.com
Blogs
http://the-forex-trading.blogspot.com/
List of Forex Platforms and software
NinjaTrader platform
http://ampfutures.com/
http://forexplatformslist.com
http://www.marketiva.com/index.ncre?gid=3371
for beginners
http://softwareforexreviews.blogspot.com/2009/10/forex-software-project.html#comments
Compare Forex Brokers
http://www.goforex.net/forex-broker-comparison.htm
http://compare-forex.com/blog/
http://www.fxmaster.net/broker.html
who would be a recommended foreign exchange broker.?
Mark
Answer
FXCM.com with dailyfx.com
Compare Forex Brokers
http://www.goforex.net/forex-broker-comparison.htm
http://compare-forex.com/blog/
http://www.fxmaster.net/broker.html
http://www.setupaccount.zulutrade.com
Books:
Bird Watching in Lion Country by Dirk Dutoit
reviewed here: http://www.financial-spread-betting.com/Bird-watching-in-lion-country-review.html
Currency ETF's and their options are the better way, with higher probability of success, greater managability, especially of leverage, ability to lower cost basis, better rules and regulation and better commissions than cash/spot FX market.
Currency ETFs are a way to play any dollar-related trades.
â¢FXA - Australian dollar
â¢FXB - British pound
â¢FXC - Canadian dollar
â¢FXE - euro
â¢FXY - Japanese yen
â¢FXF - Swiss franc
Currency ETF List
http://etf.stock-encyclopedia.com/category/currency-etfs.html
FXCM.com with dailyfx.com
Compare Forex Brokers
http://www.goforex.net/forex-broker-comparison.htm
http://compare-forex.com/blog/
http://www.fxmaster.net/broker.html
http://www.setupaccount.zulutrade.com
Books:
Bird Watching in Lion Country by Dirk Dutoit
reviewed here: http://www.financial-spread-betting.com/Bird-watching-in-lion-country-review.html
Currency ETF's and their options are the better way, with higher probability of success, greater managability, especially of leverage, ability to lower cost basis, better rules and regulation and better commissions than cash/spot FX market.
Currency ETFs are a way to play any dollar-related trades.
â¢FXA - Australian dollar
â¢FXB - British pound
â¢FXC - Canadian dollar
â¢FXE - euro
â¢FXY - Japanese yen
â¢FXF - Swiss franc
Currency ETF List
http://etf.stock-encyclopedia.com/category/currency-etfs.html
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Which are the most popular websites for forex trader?
Posted by Ryanita
on , under
forex trader
|
comments (0)
Dingdang K
Hey, I am hebby for forex trade. I concentrate on EURUSD and using IFX markets as my platform. I am wondering which websites have the latest news? And what do those wallstreet guys do, which website they surf the most?
Answer
Forex is the biggest market in existence, with the greatest number of advanced professional traders and the lowest probability of success for newbies. It's a losing proposition.
Most newbies are looking for a get-rich-quick scheme, and the high leverage of forex seems just right. Forget it. Leverage is the killer of the newbie, and you'll likely blow out before learning anything.
If you insist on trading currencies, trade the currency etf's without leverage until you develop consistency, then add leverage later.
â¢FXA - Australian dollar
â¢FXB - British pound
â¢FXC - Canadian dollar
â¢FXE - euro
â¢FXY - Japanese yen
â¢FXF - Swiss franc
Currency ETF List
http://etf.stock-encyclopedia.com/category/currency-etfs.html
TRAITS OF SUCCESSFUL TRADERS: a four part guide
http://www.fxcm.com/docs_pdfs/fxcm-traits-of-successful-traders-guide.pdf
My advice on trading forex:
http://answers.yahoo.com/question/index;_ylt=AqT3VpsJyXSkmJbqt3fKci7ty6IX;_ylv=3?qid=20120503085134AAuPSy2
http://www.dailyfx.com/
http://www.fxstreet.com/
http://www.babypips.com/school/market_hours.html
http://news.tradingcharts.com/forex/headlines/Forex.html
http://forex-trading.bluecollarnews.com...
http://www.forex-learning.com/forex-trading-technical-analysis/forex-trading-technical-analysis
Forex Walkthrough
http://www.investopedia.com/walkthrough/forex/beginner/level3/trading-currencies.aspx
Forex is the biggest market in existence, with the greatest number of advanced professional traders and the lowest probability of success for newbies. It's a losing proposition.
Most newbies are looking for a get-rich-quick scheme, and the high leverage of forex seems just right. Forget it. Leverage is the killer of the newbie, and you'll likely blow out before learning anything.
If you insist on trading currencies, trade the currency etf's without leverage until you develop consistency, then add leverage later.
â¢FXA - Australian dollar
â¢FXB - British pound
â¢FXC - Canadian dollar
â¢FXE - euro
â¢FXY - Japanese yen
â¢FXF - Swiss franc
Currency ETF List
http://etf.stock-encyclopedia.com/category/currency-etfs.html
TRAITS OF SUCCESSFUL TRADERS: a four part guide
http://www.fxcm.com/docs_pdfs/fxcm-traits-of-successful-traders-guide.pdf
My advice on trading forex:
http://answers.yahoo.com/question/index;_ylt=AqT3VpsJyXSkmJbqt3fKci7ty6IX;_ylv=3?qid=20120503085134AAuPSy2
http://www.dailyfx.com/
http://www.fxstreet.com/
http://www.babypips.com/school/market_hours.html
http://news.tradingcharts.com/forex/headlines/Forex.html
http://forex-trading.bluecollarnews.com...
http://www.forex-learning.com/forex-trading-technical-analysis/forex-trading-technical-analysis
Forex Walkthrough
http://www.investopedia.com/walkthrough/forex/beginner/level3/trading-currencies.aspx
How fast does Forex Megadroid trader make money?
Alex
Ive read that using this robot will "quadruple" your money, well how long does it take for it to quadruple your money
Because quadrupling your money in 10 years, and in 1 month would be a very different thing
Answer
The Federal government warns there are a lot of Forex frauds out there, and these Forex robots like Forex Megadroid 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.
The Federal government warns there are a lot of Forex frauds out there, and these Forex robots like Forex Megadroid 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.
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What to consider when choosing a Forex broker?
Posted by Ryanita
on , under
forex brokers usa
|
comments (0)
Kara
I have $5000 and I'm interested in trading forex. What are the best brokers on the internet?
Also when they say minimum trade size micro unit (1k) does that mean I have to buy at least 1000 units which is for instance for a currency (1.05) $1005?
Also what is the lot size? Is that the range of profit/loss? Like instead of gaining $1 for 1 pip gain $10 if I change the lot size?
Thanks
Answer
Wow... you're on your way to an unbelievable surprise.
There are no good Forex Brokers... there are only Forex Brokers that are not as bad as most.
The first thing you want to consider is where is the corporate headquarters (what country?). Assuming you're from the USA... make sure they are licensed in the USA. Do not, for any reason, deal with a Forex Broker not licensed in your home country.
The next thing is to compare the "spread" charges. All these brokers advertise "no commissions".You'd actually be better off with a commission charge than the way they charge (by the spread). Make sure that the pairs that you'll be trading have comparatively smaller spreads than the competition.
No matter what you see on the web (especially from the brokers)... understand that it will take, on average 3-5 years to be profitable in any type of trading. Forex traders usually destroy their account in days, weeks or months.
The free "classes" taught by the brokers are a joke. They concentrate on the least important aspect of trading, which is Technical Analysis. The two fields of study, significantly more important are;
A. Psychology (yours and the markets).
B. Risk Management.
Read 6-12 books on trading and another 2-3 books on Forex Trading before you open a Forex brokerage account.
Good luck!
Wow... you're on your way to an unbelievable surprise.
There are no good Forex Brokers... there are only Forex Brokers that are not as bad as most.
The first thing you want to consider is where is the corporate headquarters (what country?). Assuming you're from the USA... make sure they are licensed in the USA. Do not, for any reason, deal with a Forex Broker not licensed in your home country.
The next thing is to compare the "spread" charges. All these brokers advertise "no commissions".You'd actually be better off with a commission charge than the way they charge (by the spread). Make sure that the pairs that you'll be trading have comparatively smaller spreads than the competition.
No matter what you see on the web (especially from the brokers)... understand that it will take, on average 3-5 years to be profitable in any type of trading. Forex traders usually destroy their account in days, weeks or months.
The free "classes" taught by the brokers are a joke. They concentrate on the least important aspect of trading, which is Technical Analysis. The two fields of study, significantly more important are;
A. Psychology (yours and the markets).
B. Risk Management.
Read 6-12 books on trading and another 2-3 books on Forex Trading before you open a Forex brokerage account.
Good luck!
how much does it cost to trade forex?
Joe
Lets say the EUR/USD is at 1.40000 and i want to buy 100,000 of that currency, would i multiply 1.40000 times 100,000 to get me the price of how much i would have to pay? because if that is true i would need $140,000 to trade this currency and that is way more than what my margin is. can someone explain please.
Answer
No, because with the Forex you get leverage. USA brokers will give you 20:1 leverage I believe. Other countries will give you 200:1 or more leverage. This means you can knock down your estimation by about 200 times. But if that's still too much for your margin, then at that point you simply reduce your Lot size. You don't have to buy 100,000, you can buy 10,000 (which is called a mini lot) or even 1,000 which is a micro lot. If your account balance is $1500 or less, you should deal with micro lots. If your balance is up to 15,000 you should deal with mini lots. Above that you might consider standard lots, which are 100,000.
To be successful with the Forex, you need two things strategy-wise...
1) You need a strategy. They are NOT as hard to come by as people suggest, in fact, you can select from a list of 8000 of them right here: http://tinyurl.com/3tcla4v
2) Then you need good money management. Even with the best strategy, if you trade too large of lots, or you do poor money management (aka impatience, greed, etc) you'll blow your account.
I suggest that you open a demo account at the above link, and add ALL of the top 20 strategies to it, and let the demo run for a month or so. If it does well after a month, you can then weed out any of the strategies that didn't do so well at that point. I suggest following multiple strategies rather than just one, because more strategies = more stability. Any strategy can go bad at any time, no matter how good it's done in the past. But following multiple good strategies means that if several go bad, you're still in the green.
If it does well after a month or two and you are ready to go live, then I highly advise you to NOT put a large amount of money in to start. If you have a lot of money, put it in gradually. Start with around $2000, and then let that go for a month or more. IF it is in the green after a month, then add more money if you wish, and gradually increase the lot sizes as you gradually add more money. Never add money in if it has lost money. In other words, never add money to make up for a loss. If the account has a loss, it must make that loss back on it's OWN, not by YOU adding your own money in! And that takes a lot of patience because some times it can take it a while to make it back, and during that time, you have to wait. So patience is key. But For example, if you have a hundred thousand dollars to put into the Forex, I would say it should take you 6 months to a year to get it all uploaded into the Forex. Because you start with 2k, then let than run a month. And if it does well, then you double it, and let that run another month. And if that also does well, then you double it again, etc. It's much safer that way, because if you do some horrible miscalculation, most likely you'll have the loss early when your account is just $2000, rather than lose your whole $100,000!
Also, be sure to go with a no dealing desk broker, like FXCM. I hope all this info helps. If you have any questions, you are always welcome to private message me anytime. :-)
No, because with the Forex you get leverage. USA brokers will give you 20:1 leverage I believe. Other countries will give you 200:1 or more leverage. This means you can knock down your estimation by about 200 times. But if that's still too much for your margin, then at that point you simply reduce your Lot size. You don't have to buy 100,000, you can buy 10,000 (which is called a mini lot) or even 1,000 which is a micro lot. If your account balance is $1500 or less, you should deal with micro lots. If your balance is up to 15,000 you should deal with mini lots. Above that you might consider standard lots, which are 100,000.
To be successful with the Forex, you need two things strategy-wise...
1) You need a strategy. They are NOT as hard to come by as people suggest, in fact, you can select from a list of 8000 of them right here: http://tinyurl.com/3tcla4v
2) Then you need good money management. Even with the best strategy, if you trade too large of lots, or you do poor money management (aka impatience, greed, etc) you'll blow your account.
I suggest that you open a demo account at the above link, and add ALL of the top 20 strategies to it, and let the demo run for a month or so. If it does well after a month, you can then weed out any of the strategies that didn't do so well at that point. I suggest following multiple strategies rather than just one, because more strategies = more stability. Any strategy can go bad at any time, no matter how good it's done in the past. But following multiple good strategies means that if several go bad, you're still in the green.
If it does well after a month or two and you are ready to go live, then I highly advise you to NOT put a large amount of money in to start. If you have a lot of money, put it in gradually. Start with around $2000, and then let that go for a month or more. IF it is in the green after a month, then add more money if you wish, and gradually increase the lot sizes as you gradually add more money. Never add money in if it has lost money. In other words, never add money to make up for a loss. If the account has a loss, it must make that loss back on it's OWN, not by YOU adding your own money in! And that takes a lot of patience because some times it can take it a while to make it back, and during that time, you have to wait. So patience is key. But For example, if you have a hundred thousand dollars to put into the Forex, I would say it should take you 6 months to a year to get it all uploaded into the Forex. Because you start with 2k, then let than run a month. And if it does well, then you double it, and let that run another month. And if that also does well, then you double it again, etc. It's much safer that way, because if you do some horrible miscalculation, most likely you'll have the loss early when your account is just $2000, rather than lose your whole $100,000!
Also, be sure to go with a no dealing desk broker, like FXCM. I hope all this info helps. If you have any questions, you are always welcome to private message me anytime. :-)
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A question about FOREX?
Posted by Ryanita
on , under
forex nation
|
comments (0)
User
I Know NOTHING at all about Forex and would like to learn starting with the VERY basics is there a good book or website I can read up. Basically all I know about Forex is that it has to do with currency trading....
Answer
If you want to learn about Foreign Exchange markets, you should begin by watching television. Bloomberg, CNBC, or other financial television networks can be a good source.
Essentially, FOREX is very straightfoward. Exchange rates are just units of home currency expressed in terms of a foreign currency. The relative values of currency are set according to supplies and demands of foreign currencies. The demand for foreign currencies is largely established by the demand of a nations exports. The more a nations exports are demanded, the greater value its currency. Hence, a strong Pound, a strong Dollar, a strong Euro.
Further, a nations' currency supply is typically set according to a nations monetary policy. A loose monetary policy, that is large amounts of currency in circulation, tend to decrease a currencies value. A tight monetary policy, that is to say smaller amounts of a currency in circulation, tend to increase a currencies value.
However, FOREX markets are highly volatile and the information I just presented to you is very basic and abstracted. Lots of other factors affect currency values. For instance, government intervention. China's currency should be far more valuable than it is now, but Chinese policies affect its extraordinarily low value.
You now know all the basics about FOREX! Stay tuned to Bloomberg to learn more. Also, if you're planning on going into the FOREX trading business, it's very difficult and markets are highly volatile. Hope you have good contacts.
If you want to learn about Foreign Exchange markets, you should begin by watching television. Bloomberg, CNBC, or other financial television networks can be a good source.
Essentially, FOREX is very straightfoward. Exchange rates are just units of home currency expressed in terms of a foreign currency. The relative values of currency are set according to supplies and demands of foreign currencies. The demand for foreign currencies is largely established by the demand of a nations exports. The more a nations exports are demanded, the greater value its currency. Hence, a strong Pound, a strong Dollar, a strong Euro.
Further, a nations' currency supply is typically set according to a nations monetary policy. A loose monetary policy, that is large amounts of currency in circulation, tend to decrease a currencies value. A tight monetary policy, that is to say smaller amounts of a currency in circulation, tend to increase a currencies value.
However, FOREX markets are highly volatile and the information I just presented to you is very basic and abstracted. Lots of other factors affect currency values. For instance, government intervention. China's currency should be far more valuable than it is now, but Chinese policies affect its extraordinarily low value.
You now know all the basics about FOREX! Stay tuned to Bloomberg to learn more. Also, if you're planning on going into the FOREX trading business, it's very difficult and markets are highly volatile. Hope you have good contacts.
What is a Forex and how can I make money using it?
SomeGuy
I am clueless on Forexes and would like to know how they work.
Answer
FOREX - the foreign exchange market or currency market or Forex is the market where one currency is traded for another. It is one of the largest markets in the world.
Some of the participants in this market are simply seeking to exchange a foreign currency for their own, like multinational corporations which must pay wages and other expenses in different nations than they sell products in. However, a large part of the market is made up of currency traders, who speculate on movements in exchange rates, much like others would speculate on movements of stock prices. Currency traders try to take advantage of even small fluctuations in exchange rates.
FOREX - the foreign exchange market or currency market or Forex is the market where one currency is traded for another. It is one of the largest markets in the world.
Some of the participants in this market are simply seeking to exchange a foreign currency for their own, like multinational corporations which must pay wages and other expenses in different nations than they sell products in. However, a large part of the market is made up of currency traders, who speculate on movements in exchange rates, much like others would speculate on movements of stock prices. Currency traders try to take advantage of even small fluctuations in exchange rates.
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