I want to attend forex trading classes then get into it seriously. I have a laptop, internet, study commerce and interested. I want to turn it into my career. But then I wonder if online forex trading will be there long enough. Can online forex trading just get finished together with my career anytime soon? Also how much could I make weekly if I'm really good by July if I invest 100$ in June?

Answer
The good thing about forex trading is that you can learn it risk free. Yes, risk free! All you need to do is open a demo account with any forex broker. You can do that in five minutes on the internet and start with forex trading. On the demo account, you will be provided with real time data that you can use to make buy/sell decisions but you will be using fake or virtual money. Since you are not using your real money, you are not going to lose even a single cent.

If you want to play tennis you need to practice. Same with forex trading, with a practice of a few weeks you will be confidant enough to start live trading.

The sites you can refer for forex trading tips, recommendations, news and updates are:

Forex losses helps to decrease the following year profit tax?

I heard that the losses I make this year will help to reduce next year's profit tax.
I have few concerns about this.

1st, will it have to be grand total loss to qualify for this benefit? or will my tax rate still be reduced if my total gain is a plus through the year but if I have losses in between then can I still take advantage on reducing my tax rate for forex profit?

2nd, what the limit amount of the loss $ that I can report to be able to reduce my tax rate?

Answer
Using the schedule D of the 1040 income tax return for the sale of the securities capital gains and loss will offset each other when the schedule D is correctly completed during the tax filing season and then any remaining losses will have to used up to the maximum limited amount of 3000 each tax year to offset up to 3000 of ordinary income during the tax filing season and then any remaining loss after that will have be carried over forward to the next tax year using the carryover worksheet for this purpose and that will have to done in that way until all of the capital loss amount is used up at that time in your life are you DIE.
Hope that you find the above enclosed information useful. 06/21/2012

Seriously? How do they figure this out?
I calculated the currency exchange for a bag of chips in India which were for 10 rupees, and that was like 21 cents in the USA. Let me just say that the potato chips bag was medium sized.

Answer
Like many other things in economics, supply and demand of the foreign currency will determine the exchange rate in the foreign exchange market (or the equilibrium, aka the spot exchange rate). Supply and demand are constantly fluctuating which is why the spot exchange rate (equilibrium in the ForEx market) is always fluctuating.
So, it's not people that figure out the exchange rate, it's the foreign exchange market :)

what are bollinger bands and how can use them in trading forex?

I am learning forex trading and would like more information on what bollinger bands are and how i can used them to trade. I am told some traders find them useful in trading forex

Answer
Bollinger bands are about the best indicator you will ever use to help identify high probability trades. Bollinger bands measure a standard deviation from the mean or middle. Usually the "mean" or middle is a 21 day moving averade of closing price.

So you would lay down a 21 day moving average and then a 2.0 standard deviation set of Bollinger bands and when price closed outside of either band it is said to have closed outside a 2 standard deviation band. 2 standard deviations from the mean.


To profit in currency or forex trading you need to master the techniques and choose the techniques that are working for you when practising them on a practice account. The rule is, don't trade real money before proving your skills on a practice account. I would recommend trading on a practice account for at least a month before opening a real money account. The site i got this information has a video to show you how to trade bollinger bands

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Answer
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Here are the basic stats:

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So, which is better based on these stats?

Answer
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