Showing posts with label forex 4 you. Show all posts
Showing posts with label forex 4 you. Show all posts
Newbie to Forex?
Posted by Ryanita
on
Monday, June 9, 2014
, under
forex 4 you
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comments (0)
Yarcofin
I have been investing in the stock market for several years, but recently Forex has caught my eye with claims of huge profits, and I have some questions:
1. Is there a site with free tutorials about Forex, the same way Investopedia.com has for stocks? Is there a Forex simulator where I can try it out using fake money?
2. What kind of initial investment does Forex require? What are the commissions/fees like if any? What is the average return (%) for most Forex investors?
3. Where/how do you open up an account? (I'm Canadian.)
4. Is it a lot more speculative/luck-based than the stock market? (A lot higher risk?)
5. I've heard a lot of people talking about "systems", "software", etc that they are charging money for. Is there any free software I can get? Are most of the people involved with Forex scam artists or are there some legitimate ones?
Thanks
Also what are these "pips" I keep hearing about?
Since nobody has answered yet I went and found a great tutorial site on my own, http://www.babypips.com. It also offers links to brokers that offer free demo accounts.
Answer
Hi,
1- There are a lot of websites with free information about forex:
http://www.babypips.com/school/
There is also a good series of videos that were used to be free but unfortunately they are not free any more. You have to pay $10 for each but it does worth. If you watch these videos, it will save hundreds of hours of your time:
http://www.fxclub.com/video-en/
Also at http://www.weboma.com/category/forex/ you can find free daily/weekly signals every night.
Almost all of the forex brokers offer free demo accounts which you can practice with the fake money. Here is a small list of the brokers with free demo account:
1- http://www.interbankfx.com/
2- http://www.northfinance.com/
3- http://www.fxclub.com/
4- http://www.cmcmarkets.com/
The first two have MT4 platform. The last two have their own special platforms.
=======================
2- You can start trading forex with as low as $100. The leverage is 1:100 but you can also find 1:400 leverage too. If you learn forex properly, you can double a $5000 account every month and there are forex traders who make much more.
As you have been a stock traders, you will learn forex much faster and easier because 99% of the techniques are the same.
=======================
3- For Canadians CMC Markets is the best option:
http://www.cmcmarkets.ca/
=======================
4- It depends on yourself. You can trade wisely or you can gamble with your money and lose it easily.
There is a higher risk than the stock market because the leverage is higher.
=======================
5- There are some legitimate ones but you don't need them. You can easily learn technical analysis and find buy and sell signals on your own. It is not hard.
Best regards,
Vahid
http://www.weboma.com/
Hi,
1- There are a lot of websites with free information about forex:
http://www.babypips.com/school/
There is also a good series of videos that were used to be free but unfortunately they are not free any more. You have to pay $10 for each but it does worth. If you watch these videos, it will save hundreds of hours of your time:
http://www.fxclub.com/video-en/
Also at http://www.weboma.com/category/forex/ you can find free daily/weekly signals every night.
Almost all of the forex brokers offer free demo accounts which you can practice with the fake money. Here is a small list of the brokers with free demo account:
1- http://www.interbankfx.com/
2- http://www.northfinance.com/
3- http://www.fxclub.com/
4- http://www.cmcmarkets.com/
The first two have MT4 platform. The last two have their own special platforms.
=======================
2- You can start trading forex with as low as $100. The leverage is 1:100 but you can also find 1:400 leverage too. If you learn forex properly, you can double a $5000 account every month and there are forex traders who make much more.
As you have been a stock traders, you will learn forex much faster and easier because 99% of the techniques are the same.
=======================
3- For Canadians CMC Markets is the best option:
http://www.cmcmarkets.ca/
=======================
4- It depends on yourself. You can trade wisely or you can gamble with your money and lose it easily.
There is a higher risk than the stock market because the leverage is higher.
=======================
5- There are some legitimate ones but you don't need them. You can easily learn technical analysis and find buy and sell signals on your own. It is not hard.
Best regards,
Vahid
http://www.weboma.com/
Forex: Expert Adviser For Free to use with MetaTrader 4?
Bilal Mugh
I want to have an expert adviser for free to use with software Meta Trader 4. I want the expert adviser to automatically send e-mail signals to my inbox to execute orders. Is it possible?
Answer
Okay well unfortunately I don't know any free systems however there are plenty of ones which you can buy for about $100 that do this job.
You can see a number of them here - http://www.forexfastforward.com/forex_trading_systems.html
The thing is with FX is that the amount of money you make is greatly dependant on the system you use (the thing that says when to trade). If you have a great system, you can expect to make a decent amount of money.
Obviously, there will be losing trades but rule of thumb is that the better the system, the more money you make. With this in mind, I would highly recommend you stay away from "free" systems because you A) don't know who made them and B) don't know if they are going to make you any money.
Sure, there are scams out there and there are a lot in the FX market... however, the reviews of the systems here: http://www.forexfastforward.com/forex_trading_systems.html are all of FX systems which are working for other people.
Hope this helps?
Okay well unfortunately I don't know any free systems however there are plenty of ones which you can buy for about $100 that do this job.
You can see a number of them here - http://www.forexfastforward.com/forex_trading_systems.html
The thing is with FX is that the amount of money you make is greatly dependant on the system you use (the thing that says when to trade). If you have a great system, you can expect to make a decent amount of money.
Obviously, there will be losing trades but rule of thumb is that the better the system, the more money you make. With this in mind, I would highly recommend you stay away from "free" systems because you A) don't know who made them and B) don't know if they are going to make you any money.
Sure, there are scams out there and there are a lot in the FX market... however, the reviews of the systems here: http://www.forexfastforward.com/forex_trading_systems.html are all of FX systems which are working for other people.
Hope this helps?
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i need learn about forex?
Posted by Ryanita
on
Monday, February 3, 2014
, under
forex 4 you
|
comments (0)
arash z
Answer
Forex Trading Tips â Part 1
Why do hundreds of thousands online traders and investors trade the forex market every day, and how do they make money doing it?
This two-part report clearly and simply details essential tips on how to avoid typical pitfalls and start making more money in your forex trading.
1.Trade pairs, not currencies â Like any relationship, you have to know both sides. Success or failure in forex trading depends upon being right about both currencies and how they impact one another, not just one.
2.Knowledge is Power â When starting out trading forex online, it is essential that you understand the basics of this market if you want to make the most of your investments.
The main forex influencer is global news and events. For example, say an ECB statement is released on European interest rates which typically will cause a flurry of activity. Most newcomers react violently to news like this and close their positions and subsequently miss out on some of the best trading opportunities by waiting until the market calms down. The potential in the forex market is in the volatility, not in its tranquility.
3.Unambitious trading â Many new traders will place very tight orders in order to take very small profits. This is not a sustainable approach because although you may be profitable in the short run (if you are lucky), you risk losing in the longer term as you have to recover the difference between the bid and the ask price before you can make any profit and this is much more difficult when you make small trades than when you make larger ones.
4.Over-cautious trading â Like the trader who tries to take small incremental profits all the time, the trader who places tight stop losses with a retail forex broker is doomed. As we stated above, you have to give your position a fair chance to demonstrate its ability to produce. If you donât place reasonable stop losses that allow your trade to do so, you will always end up undercutting yourself and losing a small piece of your deposit with every trade.
5.Independence â If you are new to forex, you will either decide to trade your own money or to have a broker trade it for you. So far, so good. But your risk of losing increases exponentially if you either of these two things:
Interfere with what your broker is doing on your behalf (as his strategy might require a long gestation period);
Seek advice from too many sources â multiple input will only result in multiple losses. Take a position, ride with it and then analyse the outcome â by yourself, for yourself.
6.Tiny margins â Margin trading is one of the biggest advantages in trading forex as it allows you to trade amounts far larger than the total of your deposits. However, it can also be dangerous to novice traders as it can appeal to the greed factor that destroys many forex traders. The best guideline is to increase your leverage in line with your experience and success.
7.No strategy â The aim of making money is not a trading strategy. A strategy is your map for how you plan to make money. Your strategy details the approach you are going to take, which currencies you are going to trade and how you will manage your risk. Without a strategy, you may become one of the 90% of new traders that lose their money.
8.Trading Off-Peak Hours â Professional FX traders, option traders, and hedge funds posses a huge advantage over small retail traders during off-peak hours (between 2200 CET and 1000 CET) as they can hedge their positions and move them around when there is far small trade volume is going through (meaning their risk is smaller). The best advice for trading during off peak hours is simple â donât.
9.The only way is up/down â When the market is on its way up, the market is on its way up. When the market is going down, the market is going down. Thatâs it. There are many systems which analyse past trends, but none that can accurately predict the future. But if you acknowledge to yourself that all that is happening at any time is that the market is simply moving, you'll be amazed at how hard it is to blame anyone else.
10.Trade on the news â Most of the really big market moves occur around news time. Trading volume is high and the moves are significant; this means there is no better time to trade than when news is released. This is when the big players adjust their positions and prices change resulting in a serious currency flow.
11.Exiting Trades â If you place a trade and itâs not working out for you, get out. Donât compound your mistake by staying in and hoping for a reversal. If youâre in a winning trade, donât talk yourself out of the position because youâre bored or want to relieve stress; stress is a natural part of trading; get used to it.
12.Donât trade too short-term â If you are aiming to make less than 20 points profit, donât undertake the trade. The spread you are trading on will make the odds against you far too high.
13.Donât be smart â The most successful traders I know keep their trading simple. They donât analyse all day or research historical trends and track web logs and their results are excellent.
14.Tops and Bottoms â There are no real âbargainsâ in trading foreign exchange. Trade in the direction the price is going in and youâre results will be almost guaranteed to improve.
15.Ignoring the technicalsâ Understanding whether the market is over-extended long or short is a key indicator of price action. Spikes occur in the market when it is moving all one way.
16.Emotional Trading â Without that all-important strategy, youâre trades essentially are thoughts only and thoughts are emotions and a very poor foundation for trading. When most of us are upset and emotional, we donât tend to make the wisest decisions. Donât let your emotions sway you.
17.Confidence â Confidence comes from successful trading. If you lose money early in your trading career itâs very difficult to regain it; the trick is not to go off half-cocked; learn the business before you trade. Remember, knowledge is power.
Forex Trading Tips â Part 2
Why do hundreds of thousands online traders and investors trade the forex market every day, and how do they make money doing it?
The second and final part of this report clearly and simply details more essential tips on how to avoid the pitfalls and start making more money in your forex trading.
1.Take it like a man â If you decide to ride a loss, you are simply displaying stupidity and cowardice. It takes guts to accept your loss and wait for tomorrow to try again. Sticking to a bad position ruins lots of traders - permanently. Try to remember that the market often behaves illogically, so donât get commit to any one trade; itâs just a trade. One good trade will not make you a trading success; itâs ongoing regular performance over months and years that makes a good trader.
2.Focus â Fantasising about possible profits and then âspendingâ them before you have realised them is no good. Focus on your current position(s) and place reasonable stop losses at the time you do the trade. Then sit back and enjoy the ride - you have no real control from now on, the market will do what it wants to do.
3.Donât trust demos â Demo trading often causes new traders to learn bad habits. These bad habits, which can be very dangerous in the long run, come about because you are playing with virtual money. Once you know how your brokerâs system works, start trading small amounts and only take the risk you can afford to win or lose.
4.Stick to the strategy â When you make money on a well thought-out strategic trade, donât go and lose half of it next time on a fancy; stick to your strategy and invest profits on the next trade that matches your long-term goals.
5.Trade today â Most successful day traders are highly focused on whatâs happening in the short-term, not what may happen over the next month. If youâre trading with 40 to 60-point stops focus on whatâs happening today as the market will probably move too quickly to consider the long-term future. However, the long-term trends are not unimportant; they will not always help you though if youâre trading intraday.
6.The clues are in the details â The bottom line on your account balance doesnât tell the whole story. Consider individual trade details; analyse your losses and the telling losing streaks. Generally, traders that make money without suffering significant daily losses have the best chance of sustaining positive performance in the long term.
7.Simulated Results â Be very careful and wary about infamous âblack boxâ systems. These so-called trading signal systems do not often explain exactly how the trade signals they generate are produced. Typically, these systems only show their track record of extraordinary results â historical results. Successfully predicting future trade scenarios is altogether more complex. The high-speed algorithmic capabilities of these systems provide significant retrospective trading systems, not ones which will help you trade effectively in the future.
8.Get to know one cross at a time â Each currency pair is unique, and has a unique way of moving in the marketplace. The forces which cause the pair to move up and down are individual to each cross, so study them and learn from your experience and apply your learning to one cross at a time.
9.Risk Reward â If you put a 20 point stop and a 50 point profit your chances of winning are probably about 1-3 against you. In fact, given the spread youâre trading on, itâs more likely to be 1-4. Play the odds the market gives you.
10.Trading for Wrong Reasons â Donât trade if you are bored, unsure or reacting on a whim. The reason that you are bored in the first place is probably because there is no trade to make in the first place. If you are unsure, itâs probably because you canât see the trade to make, so donât make one.
11.Zen Tradingâ Even when you have taken a position in the markets, you should try and think as you would if you hadnât taken one. This level of detachment is essential if you want to retain your clarity of mind and avoid succumbing to emotional impulses and therefore increasing the likelihood of incurring losses. To achieve this, you need to cultivate a calm and relaxed outlook. Trade in brief periods of no more than a few hours at a time and accept that once the trade has been made, itâs out of your hands.
12.Determination â Once you have decided to place a trade, stick to it and let it run its course. This means that if your stop loss is close to being triggered, let it trigger. If you move your stop midway through a tradeâs life, you are more than likely to suffer worse moves against you. Your determination must be show itself when you acknowledge that you got it wrong, so get out.
13.Short-term Moving Average Crossovers â This is one of the most dangerous trade scenarios for non professional traders. When the short-term moving average crosses the longer-term moving average it only means that the average price in the short run is equal to the average price in the longer run. This is neither a bullish nor bearish indication, so donât fall into the trap of believing it is one.
14.Stochastic â Another dangerous scenario. When it first signals an exhausted condition thatâs when the big spike in the âexhaustedâ currency cross tends to occur. My advice is to buy on the first sign of an overbought cross and then sell on the first sign of an oversold one. This approach means that youâll be with the trend and have successfully identified a positive move that still has some way to go. So if percentage K and percentage D are both crossing 80, then buy! (This is the same on sell side, where you sell at 20).
15.One cross is all that counts â EURUSD seems to be trading higher, so you buy GBPUSD because it appears not to have moved yet. This is dangerous. Focus on one cross at a time â if EURUSD looks good to you, then just buy EURUSD.
16.Wrong Broker â A lot of FOREX brokers are in business only to make money from yours. Read forums, blogs and chats around the net to get an unbiased opinion before you choose your broker.
17.Too bullish â Trading statistics show that 90% of most traders will fail at some point. Being too bullish about your trading aptitude can be fatal to your long-term success. You can always learn more about trading the markets, even if you are currently successful in your trades. Stay modest, and keep your eyes open for new ideas and bad habits you might be falling in to.
18.Interpret forex news yourself â Learn to read the source documents of forex news and events - donât rely on the interpretations of news media or others.
Forex Trading Tips â Part 1
Why do hundreds of thousands online traders and investors trade the forex market every day, and how do they make money doing it?
This two-part report clearly and simply details essential tips on how to avoid typical pitfalls and start making more money in your forex trading.
1.Trade pairs, not currencies â Like any relationship, you have to know both sides. Success or failure in forex trading depends upon being right about both currencies and how they impact one another, not just one.
2.Knowledge is Power â When starting out trading forex online, it is essential that you understand the basics of this market if you want to make the most of your investments.
The main forex influencer is global news and events. For example, say an ECB statement is released on European interest rates which typically will cause a flurry of activity. Most newcomers react violently to news like this and close their positions and subsequently miss out on some of the best trading opportunities by waiting until the market calms down. The potential in the forex market is in the volatility, not in its tranquility.
3.Unambitious trading â Many new traders will place very tight orders in order to take very small profits. This is not a sustainable approach because although you may be profitable in the short run (if you are lucky), you risk losing in the longer term as you have to recover the difference between the bid and the ask price before you can make any profit and this is much more difficult when you make small trades than when you make larger ones.
4.Over-cautious trading â Like the trader who tries to take small incremental profits all the time, the trader who places tight stop losses with a retail forex broker is doomed. As we stated above, you have to give your position a fair chance to demonstrate its ability to produce. If you donât place reasonable stop losses that allow your trade to do so, you will always end up undercutting yourself and losing a small piece of your deposit with every trade.
5.Independence â If you are new to forex, you will either decide to trade your own money or to have a broker trade it for you. So far, so good. But your risk of losing increases exponentially if you either of these two things:
Interfere with what your broker is doing on your behalf (as his strategy might require a long gestation period);
Seek advice from too many sources â multiple input will only result in multiple losses. Take a position, ride with it and then analyse the outcome â by yourself, for yourself.
6.Tiny margins â Margin trading is one of the biggest advantages in trading forex as it allows you to trade amounts far larger than the total of your deposits. However, it can also be dangerous to novice traders as it can appeal to the greed factor that destroys many forex traders. The best guideline is to increase your leverage in line with your experience and success.
7.No strategy â The aim of making money is not a trading strategy. A strategy is your map for how you plan to make money. Your strategy details the approach you are going to take, which currencies you are going to trade and how you will manage your risk. Without a strategy, you may become one of the 90% of new traders that lose their money.
8.Trading Off-Peak Hours â Professional FX traders, option traders, and hedge funds posses a huge advantage over small retail traders during off-peak hours (between 2200 CET and 1000 CET) as they can hedge their positions and move them around when there is far small trade volume is going through (meaning their risk is smaller). The best advice for trading during off peak hours is simple â donât.
9.The only way is up/down â When the market is on its way up, the market is on its way up. When the market is going down, the market is going down. Thatâs it. There are many systems which analyse past trends, but none that can accurately predict the future. But if you acknowledge to yourself that all that is happening at any time is that the market is simply moving, you'll be amazed at how hard it is to blame anyone else.
10.Trade on the news â Most of the really big market moves occur around news time. Trading volume is high and the moves are significant; this means there is no better time to trade than when news is released. This is when the big players adjust their positions and prices change resulting in a serious currency flow.
11.Exiting Trades â If you place a trade and itâs not working out for you, get out. Donât compound your mistake by staying in and hoping for a reversal. If youâre in a winning trade, donât talk yourself out of the position because youâre bored or want to relieve stress; stress is a natural part of trading; get used to it.
12.Donât trade too short-term â If you are aiming to make less than 20 points profit, donât undertake the trade. The spread you are trading on will make the odds against you far too high.
13.Donât be smart â The most successful traders I know keep their trading simple. They donât analyse all day or research historical trends and track web logs and their results are excellent.
14.Tops and Bottoms â There are no real âbargainsâ in trading foreign exchange. Trade in the direction the price is going in and youâre results will be almost guaranteed to improve.
15.Ignoring the technicalsâ Understanding whether the market is over-extended long or short is a key indicator of price action. Spikes occur in the market when it is moving all one way.
16.Emotional Trading â Without that all-important strategy, youâre trades essentially are thoughts only and thoughts are emotions and a very poor foundation for trading. When most of us are upset and emotional, we donât tend to make the wisest decisions. Donât let your emotions sway you.
17.Confidence â Confidence comes from successful trading. If you lose money early in your trading career itâs very difficult to regain it; the trick is not to go off half-cocked; learn the business before you trade. Remember, knowledge is power.
Forex Trading Tips â Part 2
Why do hundreds of thousands online traders and investors trade the forex market every day, and how do they make money doing it?
The second and final part of this report clearly and simply details more essential tips on how to avoid the pitfalls and start making more money in your forex trading.
1.Take it like a man â If you decide to ride a loss, you are simply displaying stupidity and cowardice. It takes guts to accept your loss and wait for tomorrow to try again. Sticking to a bad position ruins lots of traders - permanently. Try to remember that the market often behaves illogically, so donât get commit to any one trade; itâs just a trade. One good trade will not make you a trading success; itâs ongoing regular performance over months and years that makes a good trader.
2.Focus â Fantasising about possible profits and then âspendingâ them before you have realised them is no good. Focus on your current position(s) and place reasonable stop losses at the time you do the trade. Then sit back and enjoy the ride - you have no real control from now on, the market will do what it wants to do.
3.Donât trust demos â Demo trading often causes new traders to learn bad habits. These bad habits, which can be very dangerous in the long run, come about because you are playing with virtual money. Once you know how your brokerâs system works, start trading small amounts and only take the risk you can afford to win or lose.
4.Stick to the strategy â When you make money on a well thought-out strategic trade, donât go and lose half of it next time on a fancy; stick to your strategy and invest profits on the next trade that matches your long-term goals.
5.Trade today â Most successful day traders are highly focused on whatâs happening in the short-term, not what may happen over the next month. If youâre trading with 40 to 60-point stops focus on whatâs happening today as the market will probably move too quickly to consider the long-term future. However, the long-term trends are not unimportant; they will not always help you though if youâre trading intraday.
6.The clues are in the details â The bottom line on your account balance doesnât tell the whole story. Consider individual trade details; analyse your losses and the telling losing streaks. Generally, traders that make money without suffering significant daily losses have the best chance of sustaining positive performance in the long term.
7.Simulated Results â Be very careful and wary about infamous âblack boxâ systems. These so-called trading signal systems do not often explain exactly how the trade signals they generate are produced. Typically, these systems only show their track record of extraordinary results â historical results. Successfully predicting future trade scenarios is altogether more complex. The high-speed algorithmic capabilities of these systems provide significant retrospective trading systems, not ones which will help you trade effectively in the future.
8.Get to know one cross at a time â Each currency pair is unique, and has a unique way of moving in the marketplace. The forces which cause the pair to move up and down are individual to each cross, so study them and learn from your experience and apply your learning to one cross at a time.
9.Risk Reward â If you put a 20 point stop and a 50 point profit your chances of winning are probably about 1-3 against you. In fact, given the spread youâre trading on, itâs more likely to be 1-4. Play the odds the market gives you.
10.Trading for Wrong Reasons â Donât trade if you are bored, unsure or reacting on a whim. The reason that you are bored in the first place is probably because there is no trade to make in the first place. If you are unsure, itâs probably because you canât see the trade to make, so donât make one.
11.Zen Tradingâ Even when you have taken a position in the markets, you should try and think as you would if you hadnât taken one. This level of detachment is essential if you want to retain your clarity of mind and avoid succumbing to emotional impulses and therefore increasing the likelihood of incurring losses. To achieve this, you need to cultivate a calm and relaxed outlook. Trade in brief periods of no more than a few hours at a time and accept that once the trade has been made, itâs out of your hands.
12.Determination â Once you have decided to place a trade, stick to it and let it run its course. This means that if your stop loss is close to being triggered, let it trigger. If you move your stop midway through a tradeâs life, you are more than likely to suffer worse moves against you. Your determination must be show itself when you acknowledge that you got it wrong, so get out.
13.Short-term Moving Average Crossovers â This is one of the most dangerous trade scenarios for non professional traders. When the short-term moving average crosses the longer-term moving average it only means that the average price in the short run is equal to the average price in the longer run. This is neither a bullish nor bearish indication, so donât fall into the trap of believing it is one.
14.Stochastic â Another dangerous scenario. When it first signals an exhausted condition thatâs when the big spike in the âexhaustedâ currency cross tends to occur. My advice is to buy on the first sign of an overbought cross and then sell on the first sign of an oversold one. This approach means that youâll be with the trend and have successfully identified a positive move that still has some way to go. So if percentage K and percentage D are both crossing 80, then buy! (This is the same on sell side, where you sell at 20).
15.One cross is all that counts â EURUSD seems to be trading higher, so you buy GBPUSD because it appears not to have moved yet. This is dangerous. Focus on one cross at a time â if EURUSD looks good to you, then just buy EURUSD.
16.Wrong Broker â A lot of FOREX brokers are in business only to make money from yours. Read forums, blogs and chats around the net to get an unbiased opinion before you choose your broker.
17.Too bullish â Trading statistics show that 90% of most traders will fail at some point. Being too bullish about your trading aptitude can be fatal to your long-term success. You can always learn more about trading the markets, even if you are currently successful in your trades. Stay modest, and keep your eyes open for new ideas and bad habits you might be falling in to.
18.Interpret forex news yourself â Learn to read the source documents of forex news and events - donât rely on the interpretations of news media or others.
Do you need a stockbroker account to trade forex?
Jazza
Or can you just walk into a bank and say you want $200 worth of new Zealand money, like what you do when you go on holidays overseas. Then you sit in it for a while then you trade it in to the bank.
Or do you need to go through a stockbroker?
Thanks
Answer
Yes, to trade forex, you need a forex broker, not a "stock" broker.
Forex Tutorial: Introduction to Currency Trading
http://www.investopedia.com/university/forexmarket/#axzz1fXzhdv68
Currency Trading â FOREX â Foreign Currency Exchange
1.EUR/USD - Euro/U.S. Dollar
2.GBP/USD - Great British Pound/U.S. Dollar
3.USD/CHF â- U.S. Dollar/Swiss Franc
4.USD/JPY â- U.S. Dollar/Japanese Yen
5.USD/CAD â- U.S. Dollar/Canadian Dollar
6.AUD/USD - Australian Dollar/U.S. Dollar
7.EUR/GBP - Euro/Great British Pound
8.EUR/JPY - Euro/Japanese Yen
9.EUR/CHF - Euro/Swiss Franc
10.GBP/CHF - Great British Pound/Swiss Franc
11.GBP/JPY - Great British Pound/Japanese Yen
12.CHF/JPY - Swiss Franc/Japanese Yen
13.NZD/USD - New Zealand Dollar/US Dollar
14.EUR/CAD - Euro/Canadian Dollar
15.AUD/CAD - Australian Dollar/Canadian Dollar
16.AUD/JPY - Australian Dollar/Japanese Yen
17.EUR/AUD - Euro/Australian Dollar
NOTE: Of the above 17 currency pairs, six of them are deemed the âmajor currency pairsâ in the FOREX market because they account for about 80 percent of FOREX transactions:
1.EUR/USD - Euro/U.S. Dollar
2.GBP/USD - Great British Pound/U.S. Dollar
3.USD/CHF â- U.S. Dollar/Swiss Franc
4.USD/JPY â- U.S. Dollar/Japanese Yen
5.USD/CAD â- U.S. Dollar/Canadian Dollar
6.AUD/USD - Australian Dollar/U.S. Dollar
As you can see, there is a currency on the left and one on the right. The one on the left is referred to as the base, and the one listed on the right is known as the cross. The format, once again, is as follows. BASE/CROSS, or EUR/USD. The EUR is the BASE and the USD is the CROSS.
TERMINOLOGY:
â¢PIPS- Price Interest Point. This is the smallest unit price for any Foreign Currency.
â¢LOT- A lot of currency is one denomination for a trade (100K or mini account). This is similar to purchasing one stock or one contract in the futures market.
â¢LONG to buy
â¢SHORT to sell
â¢BID-The price at which you sell
â¢ASK-The price at which you buy
Price Interest Point - (PIP)
Profits are made in the FOREX by gaining PIPS. A pip is the last digit from the decimal point. This value is 1/100th of a cent. You may now be asking yourself, how do I make money off of 1/100th of a cent? The answer is leverage. The FOREX market is highly leveraged and should be respected. That said, it can also provide for a tremendous return on your investment. The average leverage in the FOREX is 100 to 1. Basically this indicates that for every dollar you invest in a trade you are controlling $100 of value.
Calculated PIP
Calculated PIP â shows the Price Interest Point (PIP) value for the selected currency pair based upon your trading account margin. For example, a standard 1 percent margin trading account controlling $100,000 in currency would show the EUR/USD with a PIP value of 10.
PIP VALUE-Fixed or Floating
FIXED- When the USD is the cross currency (right side of the pair), the PIP value is fixed at $10 in a 100k account.
FOATING- When the USD is the base currency (left side of the pair), the PIP value is based upon the exchange rate of the cross currency (i.e., USD/CAD.). Also, the PIP value is floating when the pair consists of foreign currencies (i.e., EUR/ GBP).
LOT
A lot is the normal unit of trading in the FOREX market. Trades are made in lot increments, similar to share increments in the stock market.
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.
Yes, to trade forex, you need a forex broker, not a "stock" broker.
Forex Tutorial: Introduction to Currency Trading
http://www.investopedia.com/university/forexmarket/#axzz1fXzhdv68
Currency Trading â FOREX â Foreign Currency Exchange
1.EUR/USD - Euro/U.S. Dollar
2.GBP/USD - Great British Pound/U.S. Dollar
3.USD/CHF â- U.S. Dollar/Swiss Franc
4.USD/JPY â- U.S. Dollar/Japanese Yen
5.USD/CAD â- U.S. Dollar/Canadian Dollar
6.AUD/USD - Australian Dollar/U.S. Dollar
7.EUR/GBP - Euro/Great British Pound
8.EUR/JPY - Euro/Japanese Yen
9.EUR/CHF - Euro/Swiss Franc
10.GBP/CHF - Great British Pound/Swiss Franc
11.GBP/JPY - Great British Pound/Japanese Yen
12.CHF/JPY - Swiss Franc/Japanese Yen
13.NZD/USD - New Zealand Dollar/US Dollar
14.EUR/CAD - Euro/Canadian Dollar
15.AUD/CAD - Australian Dollar/Canadian Dollar
16.AUD/JPY - Australian Dollar/Japanese Yen
17.EUR/AUD - Euro/Australian Dollar
NOTE: Of the above 17 currency pairs, six of them are deemed the âmajor currency pairsâ in the FOREX market because they account for about 80 percent of FOREX transactions:
1.EUR/USD - Euro/U.S. Dollar
2.GBP/USD - Great British Pound/U.S. Dollar
3.USD/CHF â- U.S. Dollar/Swiss Franc
4.USD/JPY â- U.S. Dollar/Japanese Yen
5.USD/CAD â- U.S. Dollar/Canadian Dollar
6.AUD/USD - Australian Dollar/U.S. Dollar
As you can see, there is a currency on the left and one on the right. The one on the left is referred to as the base, and the one listed on the right is known as the cross. The format, once again, is as follows. BASE/CROSS, or EUR/USD. The EUR is the BASE and the USD is the CROSS.
TERMINOLOGY:
â¢PIPS- Price Interest Point. This is the smallest unit price for any Foreign Currency.
â¢LOT- A lot of currency is one denomination for a trade (100K or mini account). This is similar to purchasing one stock or one contract in the futures market.
â¢LONG to buy
â¢SHORT to sell
â¢BID-The price at which you sell
â¢ASK-The price at which you buy
Price Interest Point - (PIP)
Profits are made in the FOREX by gaining PIPS. A pip is the last digit from the decimal point. This value is 1/100th of a cent. You may now be asking yourself, how do I make money off of 1/100th of a cent? The answer is leverage. The FOREX market is highly leveraged and should be respected. That said, it can also provide for a tremendous return on your investment. The average leverage in the FOREX is 100 to 1. Basically this indicates that for every dollar you invest in a trade you are controlling $100 of value.
Calculated PIP
Calculated PIP â shows the Price Interest Point (PIP) value for the selected currency pair based upon your trading account margin. For example, a standard 1 percent margin trading account controlling $100,000 in currency would show the EUR/USD with a PIP value of 10.
PIP VALUE-Fixed or Floating
FIXED- When the USD is the cross currency (right side of the pair), the PIP value is fixed at $10 in a 100k account.
FOATING- When the USD is the base currency (left side of the pair), the PIP value is based upon the exchange rate of the cross currency (i.e., USD/CAD.). Also, the PIP value is floating when the pair consists of foreign currencies (i.e., EUR/ GBP).
LOT
A lot is the normal unit of trading in the FOREX market. Trades are made in lot increments, similar to share increments in the stock market.
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.
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Is FOREX 4 Real?Plz Help?
Posted by Ryanita
on
Friday, January 31, 2014
, under
forex 4 you
|
comments (0)
whocare
I mean can i realy make REAL good money with it or what?
&if so any advices?
&how much should i invest at the beging
Answer
Yes, Forex is real. It is the largest financial market in the world trading over $3 trillion in daily volume compared to the NYSE's $30+/- billion daily.
You can make good money...and you can lose good money. Those Forex accounts that make money far outperform most other asset classes. However, the majority of Forex traders don't make money. The key to making it in Forex is staying disciplined, using proper money management, and understanding what makes the market move. If you can master those three aspects you can be successful trading Forex.
Here is an articles we have written on the subject that could help. http://www.echocurrency.com/articles.html
Yes, Forex is real. It is the largest financial market in the world trading over $3 trillion in daily volume compared to the NYSE's $30+/- billion daily.
You can make good money...and you can lose good money. Those Forex accounts that make money far outperform most other asset classes. However, the majority of Forex traders don't make money. The key to making it in Forex is staying disciplined, using proper money management, and understanding what makes the market move. If you can master those three aspects you can be successful trading Forex.
Here is an articles we have written on the subject that could help. http://www.echocurrency.com/articles.html
Metatrader Expert Advisors - Which Forex Software Complements Metatrader 4?
Bryan W
Answer
Forex Tracer is among the better Metatrader expert advisors out there. It complements Metatrader 4 on every front, mining, analyzing and reporting on profitable spreads from the 24 hour forex market.
I've been in the Asia Pacific forex markets for over 8 years and the Forex Tracer + MetaTrader 4 combination works best in the current market scenario.
Forex Tracer is among the better Metatrader expert advisors out there. It complements Metatrader 4 on every front, mining, analyzing and reporting on profitable spreads from the 24 hour forex market.
I've been in the Asia Pacific forex markets for over 8 years and the Forex Tracer + MetaTrader 4 combination works best in the current market scenario.
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