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shelley f

Hello Everyone
I really appreciate you taking the time to read this and maybe help me out.
I read previous comments about forex trading but they were posted 7yrs ago..I am a complete newbie and don't even have an account set up with a broker nor would I even know who to use for that matter, I live in toronto and I'm sure we must have some good honest fair brokerage houses or online brokers as well. I have looked at a system called Cycle Trends FX software its based out of South Africa I think but I haven't bought it because I don't need to be scammed. I don't want to have to invest 10,000.00 to start trading and as bad as this is going to sound I need someone to hold my hand and walk me thur the entire process..I would really appreciate some help with this because I work full time and don't have the time to sit in front of a computer all day and I'm sure for a fee you can pay someone to let you know what to trade on or maye there's a software system to do that for you that I haven't come across, I'm really not sure if Brokers work that hard for there clients just because of the things I've read on the internet but there has to be a way for a person who works 12hrs days to be able to get into trading somewhat hands off...
Thank you for your time this is a great way to get honest answers...
PS if your an affiliate for a Forex product please don't reply....

cecilgamin

I am a beginner who wish to learn before forex trading. Thank You.

By Adrian Pablo
Find the right strategy and you will never look back in the world of trading. A great forex trading strategy is what separates the wishful thinkers who dedicate themselves to losing money everyday while the professional and successful traders with the right strategy dedicate their time to making money every trading session.

As a newbie, it is your responsibility to learn the basic things about forex trading. You cannot expect someone to guide you in the market unless you hire someone to help you. But more often than not, it will only be you alone. Here's a guide that will help you succeed in forex trading even if you are just at the beginning of your career.

First thing to remember is, Forex markets are in no way scientific. You can never apply science to win in forex trading. No scientific theories can assist you in the forex market simply because determining the price is done by human decision and not based on science.

Second, it is not bad to expect a long lose period. As you start your career in forex trading, of course you will experience some loses. But do not be discouraged, instead, use it as your guide so you won't commit mistakes over and over again.

Third, always remember that forex trading is a risky business. Don't be afraid to take risks or else you will never win. It takes courage to be successful in this business.

Fourth, never believe that you can buy success. Again, nobody can help you win but yourself alone. Don't rely on promises from vendors that they can make you rich- they don't. They would only let you believe that you can earn huge amount of money. Do not be deceived by their advertisements easily. Always look for the good brands.

Lastly, forex trading is simple, thus what you need is a simple forex strategy to help you win at forex trading.

Article Source: http://EzineArticles.com/?expert=Timothy_Stevens

The first thing that you need to consider is the effect of the forex trend to your emotions. Most traders loose because they do not have control over their emotions. A good forex trading system will give you discipline for you to be able to gain more rather than loose more. Secondly, you need to take note of the ability of the trading system to follow the currency trend. The currency reflects the condition of the economy, so make sure that the system you are about to use has the ability to run through the trends. And lastly, the system must be a time system. This means that the system must be automated. This will allow you to simply take the signals and give it to the brokers.

A good online forex trading system can help you earn long term gains. That is why you have to take some time in picking out the best system out there that will help you become a good forex trader.

Executive summary by Sacha Tarkovsky

One of the most inspiring stories I ever read, was how legendary trader Richard Dennis taught 14 people who had never traded before, to trade successfully in just two weeks.

Richard Dennis taught them three major points:
1. A simple method they could have confidence in.
2. Money management.
3. Applying the method with discipline.

1. Method
You should be using a long term trend following methodology looking for the big trends that produce the big profits and breakout trading is ideal for this.
If you want to win at online forex trading, you need to know about breakouts.

2. Money Management
If you start with a “breakout method” and base your trading method on it, then stop placement is obvious.
If you only trade significant breaks your odds of success will be high.

3. Discipline
Is perhaps the hardest part of trading online forex.
You need to apply your method with rigid discipline otherwise you have no method at all.

Discipline is all about experience and even seasoned traders find it hard to keep executing a method when a string of losses occur.

1. Market Wizards and The New Market Wizards ( edit )
2. Trader Vic

A true trading legend, who shares with us his thoughts on trading, money management and trading psychology, a fantastic all round book.
Trading is Simple, yet people try and complicate it.

Work smart not hard!

Executive summary by josh riverside

Online Forex trading is a business of risk. It is only wise to choose your online Forex platform providers and brokers with utmost care. What you need to do is consult online Forex trading reviews. Here, you will have access to actual assessments from small investors themselves, accurate evaluations from expert financial institutions, and helpful comparisons based on key market indicators.

Benefits of Consulting Reviews

Many reviews are written by veterans in the currency trading industry - people who have traded successfully for years. Online Forex trading reviews allow you to compare and contrast brokers, so that you can find one that is willing to handle your investment the way you want it handled. Finally, online Forex trading reviews give you access to the opinions of investors themselves, big or small.

by Dwi hermawanto

ISO 4217 is an international standard describing three letter codes to define the names of currencies established by the International Organization for Standardization (ISO).
The first two letters of the code are the two letters of ISO 3166-1 alpha-2 country codes (which are similar to those used for national top-level domains on the internet) and the third is usually the initial of the currency itself. So Japan's currency code becomes JPY—JP for Japan and Y for yen. This eliminates the problem caused by the names dollar, franc and pound being used in dozens of different countries, all with wildly differing values.

The standard also defines the relationship between the major currency unit and any minor currency unit. Often, the minor currency unit has a value that is 1/100 of the major unit, but 1/10 or 1/1000 are also common. Some currencies do not have any minor currency unit at all. Mauritania does not use a decimal division of units, setting 1 ouguiya (UM) = 5 khoums, and Madagascar has 1 ariary = 5 iraimbilanja.

ISO 4217 includes codes for not only currencies, but also codes for precious metals (gold, silver, palladium and platinum; normally measured in troy ounces) and certain other entities used in international finance, e.g. Special Drawing Rights. There are also special codes allocated for testing purposes (XTS), and to indicate no currency transactions (XXX). These codes all begin with the letter "X". ISO 3166 never assigns country codes beginning with "X", so ISO 4217 can use "X" codes for non-country-specific currencies without risk of clashing with future country codes.

Supranational currencies, such as the East Caribbean dollar, the CFP franc, the CFA franc BEAC and the CFA franc BCEAO are normally also represented by codes beginning with an "X". However, the Euro is represented by the code EUR; although EU is not an ISO 3166-1 country code, it was used anyway, and in order to do so EU was added to the ISO 3166-1 reserved codes list to represent the European Union. The predecessor to the Euro, the European Currency Unit, had the code XEU.

Forex Currency Trading - Can You Make Money Out of It?

Executive summary By: Anthono Dhamster
If you're reading this you've already heard of Forex Currency Trading. Firstly, Forex Currency Trading is NOT about going to the bank every couple of days and changing money for another currency. The most common home setup involves the use of Forex Trading Software, often known as Expert Advisor software. This software sits on your machine and connects via your internet connection to an MT4 account provider. Basically, an MT4 account is like a bank account, but one that gives you access to trade Forex.

The latest software is known as Autopilot Trading Software - basically this is software that trades the market for you.
Well, the software has been "trained" on how a particular currency pair operates (a currency pair is something like the USD / JPY or USD / Euro). It may sound a little risky trusting in a machine, but most good software gives you the opportunity to operate in a test environment where you use "invisible cash" to practice the trading. When you're ready, you then start the proper trading.

Forex - You Make Some Quick Money?

Can you, as a smaller investor, make some quick money trading on the Forex? One of the perceptions among smaller speculators is that the Forex offers an easy way to make money quickly. Even before beginning to develop knowledge of how to trade and what trading strategies to adopt, understanding a few basics is in order,. Unlike other markets (i.e. stock exchanges, etc.) the currency exchange market does not have a central, physical location for conducting trades. Trading is carried on directly between banks, foreign currency dealers and foreign investors using computer terminals, telephones and broker desks. Thus, foreign exchange trading is over the counter.

Indeed, most currency exchange trading takes place online. Trading may be conducted 24 hours a day from anywhere worldwide. Beyond anything else, if you are a beginner, it absolutely critical that you refrain from serious trading until you have gained sufficient confidence by paper trading in a demo account. With a demo account, a new investor can practice making trades for a period of time before seriously dipping into the hectic arena of currency trading.

Another cautious way of approaching the Forex market is to avail your self of a mini-account offered by many brokers. Craft your own Forex strategies with an expert and trade solely on your own or through a licensed broker. Yes, you can make money quickly in the Forex market. Trading goes on 24 hours a day in this highly accessible, highly liquid market. Probe the accumulated knowledge base in much greater depth using online broker services, free tutorials and demo accounts which will provide you the foundation you need to make quick money trading on the Forex.

Three Forex Trading Systems and the Reasons Why They Outclass All the Competition

There are over one hundred Forex trading systems on the market today. When you start reviewing these products your head is going to start spinning with the marketing material you will be introduced to. I know, this is my job, purchasing, testing and reviewing each of these currency trading systems and when I start reading the advertising material I can easily see how deciding which system is the best would be very confusing.

While trading on the forex market takes some research, skill, and a bit of luck, it is possible to make money. Trading on the forex market also offers you more leverage than in other markets. You can make trades at any time of the day, which gives you much more control than if you are operating in the traditional stock market. The advantages of real-time trading are advantageous in that traders have a much better understanding of their investments. If you're interested in trading on the forex market, do your research. Many trading companies provide free information online.

Forex Trading Concept
Executive summary about Forex Basics: An introduction By: Yudi Hariyanto