A combination of forex indicators that is very reliable and gives at least reasonale trades

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Good stock day traders are happy with getting 50% of their trades correct. Forex traders can do less. What makes the average trader successful is how they practice risk control.

If you read books like Millionaire Traders you'd know that the only system that works for successful traders are the ones they developed for themselves. Trading isn't a formula. It's an art.

Laguerre and CCI indicator affectiveness?

I'd like to know how affective the Laguerre and CCI forex indicators are. Does anybody have experience using either of them? Does anybody know of any statistics such as either or both having an 80% (hypothetically) success rate? Thanks.

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i tried the lag indicator at the recommendation ofsomeone and thought it was bleh. never used the other one. what seemes to make a good strategy is not which indicator you use, but mostly knowing the behavior of the market you are trading. for example, does a market stay flat more than it moves up / down? if it spends more pips flat, you better trade for reversals. but if it moves more than it stays flat, you better trade for breakouts or trends. and this is much more important to know and do, than what indicators you use in my opinion.

but if youd rather skip ahead and get a goods strategy , try http://comefollowme.zulutrade.com

Hi

I can't figure this one guys, what is tha benefit of using most forex brokers like FXCM for currency pairs paying a 1-3% spread when I can trade any major individual currency futures for $4.75round trip with a futures broker.

Am I missing a big benefit of trading forex pairs somewhere?

Thanks

Answer
Hi David,

It's a good question you're asking. Some forex brokers try to make it out like spots are far superior to futures, but the difference isn't that big. Other brokers offer both (see some at http://forextradingwinners.com/category/forex-broker-reviews).

Spots are generally cheaper to trade as there is mostly no commission. Spots are not regulated by the FTC either. Spots as you know are settled instantly as opposed to futures. This CAN be cheaper as well.

Spots are more flexible and come in different lot sizes. Futures are often only standard lots of 100,000.

Futures are more transparent and have more info available freely.

I want to open an ccount with one of the online forex brokers ,Which one in the UK is the best to go with?

I tried a lot of reviews , and all reviews point to one another as crap.Which one should i believe ?I am confused ,Could anyone give me some information or with experience would be grateful to you.

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The reason you're finding a lot of crappy reviews is that forex trading is full of scams. Everyone wants to sell you signals and collect your commissions. Your question already has at least one blatant scam answer.

In real life, Foreign Exchange is a very large market populated by serious experienced professionals. With no experience, you would be a lamb among wolves. You would lose.

Whoever has convinced you that novice forex trading is a good idea has done you a grave disservice. Please reconsider.

I live in Las Vegas so sports gambling is legal for me. Trading stocks is not an option cause $3000 doesn't go far unfortunately.

Answer
listen to these
http://www.youtube.com/watch?v=UT6Y4OZ_Ejc

I am 18 and want to start investing in stocks?

I obviously don't have that much money, but I would like to invest at least some in some stocks. Could anyone recommend any websites that would allow me to do this with a minimum amount of money?

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Go for low risk, low yield stocks first since you are new at this. Read as much as you can and watch youtube videos and documentaries. If you find the topic interesting then open a brokerage account somewhere and start buying stocks. Don't open a forex account, I know lots of ads are out there promoting forex but trust me stocks are much better and safer to start out with.

I recommend a low fee brokerage like sogo who charge $3 a trade and also give you 100 free trades to start so make your first few trades really small ones.

https://www.sogotrade.com/Setup/Default.aspx?rf=392837

And if you like to read then hit amazon and look for 5 star reviews on books. and get this book on options:

Option Volatility & Pricing: Advanced Trading Strategies and Techniques by Sheldon Natenberg.

I am looking to open an eToro account and I am not comfortable with giving a copy of my passport and a utility bill to the company, are these things necessary? Also if you have a good forex site for people with small amounts of funds such as myself, what would you be using? Thank you.
Have you guys used etoro? I like how its setup and the pips are really low. Plus the starting amount is very small.

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Verifying your ID is a must, but I guess it could be also driver license. Utility bill is to verify your address which be done also by something else like bank statement. Yes, it is not uncommon. To succeed in forex you need to learn the best methods. Check the forex system reviewed below.

Is there anything on the NYSE that follows true commodity prices or specific Forex?

I want to play commodities or Forex but I don't want to deal with a broker...Shouldn't there be something like this on the market?
please give me any tickers or names of institutions that offer these.

Answer
Get best forex tips and forex product reviews here :

http://www.asdiary.com/category/forex

Free and good content

What's a decent forex broker which is not a seedy bucket shop but still not to high priced?

I want something that I can start off with with around $500 or so just so I can learn the ropes and make my little trades. I've read warnings about certain forex brokers which are unregulated bucket shops and aren't insured properly either. But are there any decent forex brokers which don't charge terribly high fees but still are decent?

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First, you aren't going to be a talking to a broker. With forex, you will have an account with a dealer who will be taking the other side of your trades.

Second, since they are dealers, they make their money off the spread, not by charging fees or commissions.

Third, they are not banks or brokers, so there is no such thing as "proper insurance".

If you want to learn how the trades work google "forex" and you will see a list of dealers. Any legit dealer will give you a demo account free for 30 days.

Since forex is not governed by law anybody can be a forex dealer, but all the legitimate ones voluntarily register with the National Futures Association even though they don't have to because they are not actually futures brokers.

Are there any Forex brokers that offer Indices trading to US customers?

I see many Forex brokers. Are there any brokers that offer trading of indices (such as Dow Jones) to US customers? There seem to be many brokers that offer indices to Europeans but not US customers.

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I use thinkorswim...I usually trade the Russell 2000 regularly with them but the other indices are available also.

Q. I wanna trade in currencies...and there are so many Forex account sites on the net that the choice becomes difficult for a guy like me who has so far NEVER traded in currencies, especially in Euros and $$$...

Answer
There are a ton of Forex brokers("Forex account sites") to choose from. The honest truth is that the Forex broker you choose is VERY important to your success. Here are some questions I recommend you ask yourself before choosing your Forex broker:

1) What trading strategy do I plan to trade? If you scalp the market you will need a broker who does not restrict scalping or place minimum time limits on positions. If you plan on trading a carry trade system you will need to research the brokers swap(rollover) rate and find the most competitive broker. If your system usually trades in peak hour times you may want a Broker that offers variable rate spreads while if your system tends to trade off market times a fixed spread Broker may be the best option. Understanding your trading strategy and how the Broker will affect it's performance is key.

2) How large of an account do I plan on trading? If you expect to be trading more than $50,000 you will need a broker with sufficient liquidity to quickly and efficiently get you in and out of the market. These larger accounts are significantly affected by the size of a Broker's liquidity pool. Also, the larger your account the more important "broker financial stability" will be. Choose a broker that has a combination of liquidity and financial stability.

3) What currency pair(s) do I expect to trade? Depending on a Broker's liquidity source(s) the broker may have better or worse spreads on different pairs. For instance, MB Trading usually beats Dukascopy's British Pound pair spreads while Dukascopy tends to have better Swiss Franc pair spreads. Also, Brokers have access to different currency pairs. If you expect to be trading exotic currencies you will need to find a Broker that offers those pairs.

4) ECN/STP or Market Maker? I won't spend time explaining the differences between the two as an entire article could be written on the subject.... but both broker types have their advantages and disadvantages. You will want to research the differences, understand how those differences may affect your system, and decide accordingly.

5) Fixed spread or Variable spread? Some Brokers offer a set spread cost that normally only changes during news announcements. Other Brokers offer changing spreads depending on the demand for that currency at any given price. This choice can be extremely important depending on the strategy you trade and the position sizes you take. If you mainly stick to high-volume market times for your trading than you will probably want a variable spread which often translates into lower overall spread costs. If you get signals around the clock, many times during off peak hours a fixed spread Broker may be better because fixed spreads tend to be cheaper than variable spreads during off market times. It is important to open multiple demo accounts at a variety of fixed and variable spread brokers to compare the difference.

6) Do I want to trade using the Metatrader platform? Metatrader 4 is currently the most common trading platform available on retail Forex. It is wise to open demo accounts using several different platforms to get a feel for each platform and choose the one that suites your strategy best. Some platforms such as Metatrader offer an auto trading feature (Expert Advisor) where the computer executes the trades for you. If you plan on using such a feature either now or in the future, it is important to know the options and limitations of the platform you choose.

7) Do I trade with an on-shore or off-shore Broker? The location of your Broker has important tax and legal consequences. Also, Brokers are regulated differently depending on the jurisdiction in which they are found. Make sure to consult your tax, legal, and financial advisors prior to making the decision.

I hope this isn't an information overload but the Broker you choose is HUGE. I recommend narrowing your search down to 3 and then demo trading all three before choosing. NEVER trade live until you know what you are doing and have practiced for months.

Can any one tell few strategies for forex trading?

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I like a strategy that;

1) reduces the market risks associated with Forex market
2) pays me an interest rate payment 7 days a week
3) takes advantage of downtrends to buy additional shares
4) takes advantage of uptrends to capture profits
5) requires minimal time staring at a stupid computer screen
6) requires less than 1 hour a week to monitor all my accounts
7) can consistently generate at least 7% per month

Oh wait......that's the strategy that I use right now!

Paul Upp
(925) 236-1839

If you have a simple forex trading strategy that is very easy to understand kindly share it please. No commercial products.

Answer
Asking people for a simple Forex strategy is like asking people if they have a simple method for playing poker that will allow you to win playing poker experts. There is no simple Forex strategy that works.

Forex is 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. 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 using a "simple" strategy.

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.

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.

I am looking to start trading in Forex, can you give me advice?

I am looking to start trading in Forex with a friend. What should I know? Where should I look? And most importantly, what should I try to avoid?

Thank You!

Answer
Forex is 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. 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.