Several years ago I started tentatively to study about the forex exchange market, I have read some books about it but never had the braveness to risk real money in it, If I have to use real money I will at least pump 1000 USD which I may lose in a couple of minutes and most probably it will be the first and the last trial for me, and ofcourse I do not like that.

I want to know the best broker companies, and the best way for technical and news analysis, and if I applied a good technical and news analysis, would I be at high risk either?

Do you have any recommendations?

Answer
FXCM has worked fine for me for many years, but I find myself trading more FXY or maybe FXE than any spot, along with the options.

For example, it's a lot easier to hold a long FXY and later sell a covered call, called "legging on," and you have a relatively risk-free long position with a little theta decay going on there in case it goes nowhere or down a little. It reduces your cost basis, protects the downside somewhat reducing risk, and at the same time increases your probability of success to 67%, way over a 50/50 guess directionally with high leverage in a cash FX position. The latter is doomed from the start to failure using leverage without the tools and knowledge to handle these markets.

Having traded FX for more than a decade, I'm lost in the gov't run, debt driven, and crisis insane FX markets. Fits and starts and stop farts.

Trading is about managing risks, not guessing what a politician will do next. How about when the rules change, or suspended law? How do you measure those risks?

Quite plainly, my "recommendation" would be to avoid forex like a plague, especially and until you can call yourself a trader.

Learn to trade stocks first, if you insist on trading, then see if you can do it with leverage. Develop a trade plan and test the plan. If you can make simulator profits by trading the plan, you're good. If not, modify your plan.

Read the book by David Nassar - Rules of the Trade - available at your local Interlibrary Loan System.

http://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/scalping_report/2013/05/08/Forex_AUDUSD_Scalps_Target_March_Lows_Bearish_Below_1.0220.html

"Which Is Better, Buy-and-Hold or Market Timing?"

"Do You Have What It Takes to Be a Market Timer

Lefevre, Edwin - Reminiscences of a Stock Operator (story of Jesse Livermore)

O'Neil, William J.- How to Make Money in Stocks - can also be your TA instructor if you buy his paper IBD.

I am so determined to achieve in life, i want to be rich, any suggestions on how to be?

Answer
Firstly, finish up with any education, studies etc and find a decent job in your chosen thing that you studied (assuming that was your original plan).

When you are secure with your life with your job and making a steady income and are happy, then you can look at becoming more wealthy. You hear stories all the time of people who come from "rags to riches"; well, these cases are rare, don't imagine for a second that you might just end up "getting lucky" and stumble upon fortunes like these people. If you want wealth you have to be prepared to think critically, learn, invest and be open-minded and intelligent (life isn't a fairy tale, only for a very few lucky people you hear about in stories).

Now, just "having a job" will never get you rich, do you know why? It's because by having a job, you are making someone ELSE rich! If you want to be rich, you have to make people work for you, not the other way around.This is the most common way to become wealthy, of course there are other ways like stocks, currency trading Forex, treasure hunting etc. but if you want a more solid, structured, less wild approach, then that's a good route to go down.

Don't misunderstand me and think that getting a job is wrong, getting a job is essential, you need to have money and a living before you can get anywhere in the first place, and many people are happy to just work their job without having to worry about much, that's a perfectly fine thing to do and can be considered wise, after all, money isn't everything.

But anyway, back to the point:

You are just one person, you are just a 24 hour 7 days a week existance and can only product a certain amount. If you have 10 people working for you, thats 24x10=240 and 7x10=70. That's 240 hours and 70 days worth of work in just 24 hours and 7 days; something you could never accomplish on your own, but you can if you have people working for you. As you see, by multiplying your productivity by 10 by getting others to work for you, you have also x10 your wealth in the process. If you have 100 workers then its x100 productivity and x100 your wealth! Of course, people don't work for 24 hours a day 7 days a week, but just for the sake of easy maths I used those numbers. Also costs must be taken into consideration such as pay, maintenance, rent etc, but on the scale of things, your profits must outweigh your costs (obvious) which if you set up your business well, it will.

Now, your workers are of course, NOT slaves and will demand pay and certain rights, this is why you take a small percentage of their production profit and give them the rest to pay them. If a worker can produce $3,000 worth of wealth a month, then you take $1,000 of it from him and pay him $2000. If you have 100 workers and you do the same for each of them, then that's $100,000 for you in just one month, that's $1,200,000 a year (rich now?). I hope your beginning to understand now how actual WEALTH is generated!

Never say to yourself "I'll just make it somehow" and then spend your whole life hoping that some kind of once in a life time opportunity is going to magically appear which will make a success out of you. That's like throwing all logic out of the window and expecting the stars to guide your destiny. It's never going to happen like that, you must be smart and often brilliant to achieve anything big in this life. There are no shortcuts, only in stories.

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

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

How can I be benefited from forex manual trading system?

Please help.

Answer
A manual trading system is challenging. To benefit from one, find out the answers to these questions:

1. When should you trade?
2. What should be the time frame?
3. What is your primary price?
4. What can you learn from the chart?
5. How much will you take risk?
6. What is your target profit?

I wnt to be a millionaire in india , how to get idea small business ? or MLM is good website or orginial webiste in india ? i join pyrmaid business .. pl help me

Answer
You can try forex trading. I have been trading for more than three years and I don't regret getting involved. Make sure you are well trained before venturing into it.

Repatriating money from India to US frequently?

I have a apartment property in India that fetches Rs. 25k per month ( approx $600 ). It could total upto $7000 per year. Can I and if so how can I repatriate that money per month or per year? I am a recently naturalized US citizen who is about to obtain an OCI ( overseas citizen of India ) status.

Answer
Rental income, being a current account transaction, is repatriable, irrespective of whether the property was purchased through forex or other means, only if tax is paid or provided for. The same holds good for capital gains on property acquired through inheritance or other sources. Since you have used forex to purchase the house, you can repatriate the capital equal to the US dollars used for the purpose.

Person must have experience as IB in various offshore companies working in INDIA/new bees are also welcome.

Answer
I ran a data center in India but no longer have a passport :(

How do people figure out the currency exchange rate?

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 :)

Hey,
Im currently living in Pakistan , Karachi. im the beginner and i need a forex broker in my city. i cant find dem :( plz tell me if u knw any 1.
i dnt need the online jobs.. just tell me the name of the broker who work in karachi,Pakistan..

Answer
there are many. try this website:

http://www.forex.pk/banks-directory.asp

please can someone give me a link to forex brokers?

i need a site link or directory of good forex brokers

Answer
Hello you can try http://www.reliableforexbrokers.com/forex-bonus.html

i use them also

Answer
´ve been investing for more than 20 years and trading for almost 14, and I can tell you that if you want to make BIG and FAST profits, I recommend you trading rather than investing, trading can help you to go from rags to rich.
If you are investing, you must have already achieved some degree of finalcial success, long term stock investing and FOREX can help you become much richer than you are today.
My experiences as a Nasdaq Market Maker, Head trader of seveal brokerage firms, and currently as a professional trader and private hedge fund manager, I can sugest you that:

We trade because we want quick, short term profits on a consistent basis. We want to cash flow the market. Milk it like a cow. Make consistent, small, short term gains rather than trying to hit a home run on every trade. Don't ever forget that, don't marry a stock, marry the idea of making money trading stocks. That's the only way to do it.

For me "All stocks are equally worthless"

I don't hold on to any illusion that the stock market will continue to go up and provide a nice retirement for me.
I could care less which way the market goes. It's irrelevant to me if the market goes higher, crashes or moves sideways for the next 50 years. I really could care less. Stocks are just four letters with two prices next to them that I use to make a living trading.

Trade ONLY when you have a clear, easy and identifiable advantage, because without a CLEAR EDGE your odds of success are NO better than a flip of a coin⦠That´s why so many new traders (and investors) lose money.

Take a look at any daily chart of any index or stock and you'll probably see the most volatility and the biggest opportunity for profit during the first Hour of the stock market's opening.

The popular thinking and conventional wisdom is that you should wait about an hour before you start trading.

But if you do, you'll miss the big, fast moves that stocks make as all the amateurs let their emotions out through their online accounts, usually right after they read some news headline or hear Maria Bartiromo go off about a stock on CNBC.

It's easy to see why trading the open is the market's prime time for profiting from other online traders.
The market's open is very volatile - that is the perfect environment for LARGE, FAST profits.

Learn to trade as a professional Market Maker ,not as an emotionally driven amateur trader or investor with few thousand dollars in an account at Etrade.

There isn't any other time during the day or any stock you can invest in, that can make you 1, 2, 3, 5, 7 or more points in minutes OTHER than during the first hour the stock market is open. That's why I love trading the open so much.

I trade only when I have an edge and that means "only the fisrt hour the market is open".

If you are a beginning trader or investor, you can give yourself an unfair advantage in the market trading this way.

I can continue giving you a lot of advises about how to make money trading, but if you ask me:
"What is the best thing you can do for me or that I can do for myself?
Go to this hiden site and learn the BEST guarded system on making the largest and fastest day trading profits you´ve ever seen...

www.onehourtrading.com

After you review this site you won´t need any other system, strategy, book, software or mentor to tell you what to do,
you will be able to find big profits opportunities evey day, and don´t rely on anybody else.

P.S. Check my last 3 trades, so you can have a better perspective...Check them in any chart softaware or website.

Date: 2/13/2008, Stock: NILE, Gap: $13.57, Action: Bought at $42 Sold at $43.5, Profit: $1500, No. of stocks: 1000, Time: less than 3 minutes.

Date: 2/14/2008, Stock: EQIX, Gap: $7.25, Action: Sold short at $80 Bought at $78, Profit: $2000, No. of stocks: 1000, Time: less than 1 hour.

Date: 2/15/2008, Stock: DRYS, Gap: $3.67, Action: Sold short at $86.5 Bought at $84.5, Profit: $2000, No. of stocks: 1000, Time: less than 1 hour.

TOTAL PROFITS IN 3 DAYS: $5500

What is the best option for you, to invest or daytrade? The answer will depend on your expectations, experience, money, time, but if you are a beginner and you want to put yourself light years ahead of every investor and trader you know and give yourself an unfair advantage in the market get The One Hour Trading System right away!!!

Good luck and good trading,

How do i use andrews pitchfork in forex trading?

Answer
Hello,
Andrews pitchfork is a study using trendlines. A basic understanding of trendlines and support/resistance levels is appropriate when finding application and interpretation using Andrews Pitchfork's.

This feature is rarely provided in forex trading system. http://www.finexo.com/ provide line and bar charts through with you can make your study.

I do my analysis like this
In constructing my study, Firstly i choose the starting points. The first is a major peak or trough on the left side of the chart display. The second and third starting points are chosen to be a major peak and a major trough to the right of the first point. After all starting points have been decided, i draw a trendline from the first point (the most left) so that it passes directly between the right most points. This line is called the handle of the pitchfork. The second and third trend lines are drawn beginning at the starting points and parallel to the handle. Dr. Andrews suggested that prices make it to the median line (or handle) about 80% of the time while the price trend is in place. This means that while the basic long term price trend remains intact, Dr. Andrews believed that the smaller trends in price would gravitate toward the median line while the larger price trend remained in tact. When that does not occur, it may be evidence that a reversal in the larger price trend may be in progress or provides evidence of a stronger bias at work in market. When price fails to make it to the medial line from either side, it is often an expression of the relative enthusiasm of buyers and sellers and may predict the next major direction of prices. If prices fail to reach the median line while above the median line, it is a bullish and failing to reach the median line from below is bearish.

This way you can also make your analysis more worthy and helpful to your trade.

Forex is not something you should enter without the proper education. The more information you have about what forex is about and how the currency markets behave the closer you will be to becoming a successful trader. And as you already know, that means more money in your pocket.

As you surely know, markets are open the whole day during six days of the week, with the desirable consequence of allowing traders a huge flexibility when it comes to knowing when to enter end exit a trade. Due to the constant buying and selling of currencies in the market, as long as they are kept open the prices will be constantly fluctuating and reacting to the world news and market conditions. All this activity can be easily seen by looking at a forex chart. And is thanks to this fluctuations that traders can have the potential of profitable trades the whole day. Here the secret is, again, to find a successful system with the right strategy.

For example, with the Forex KISS strategy you can easily duplicate your account capital in less than three months without having to worry about losing much money from your account if you apply the rules of the system as you are told to do. Understand how to implement the KISS and you will be kissing good bye to sad losing trading days.