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Sunday, June 17, 2007
Forex Trading - Trading the Forex for Profits
Free Online Forex Trading Courses
However as with a lot of things in life today sometimes the best things in life are not for free and certainly the same could be said for many of these courses. When you are considering taking an online forex trading course, there are a number of things that you will need to take into consideration.
1. Who is offering this course?
2. Just why is it they are offering to provide you with a book to learn about Forex trading for free?
3. Are they actually offering this course because they are promoting a particular trading site and then want you to enroll on it?
4. Once you begin to read the book do you find that they are being extremely pushy when it comes to actually getting you to use a particular website to invest your money in?
The answers that you provide to the above questions will help to show you just how honest the information being provided to you for free is.
One way of discovering if the free online forex trading course that you are looking at is of the highest standard is by looking at how much of the information contained within it is replicated elsewhere. You will soon learn that a lot of the information you find in some of the free online forex trading course books can easily be found when you search the net.
So rather than using these books or courses to teach you how to trade on the Forex market instead use the advice and articles about the subject that are being offered on other sites. Plus why not join one of the many forums that have been set up and discuss your issues with some of the people here. They are people who have been trading on the Forex market for some time and will often offer you the best advice when it comes to finding a suitable course for learning about Forex trading.
Certainly the better free online Forex trading courses are those that do not limit themselves to telling you about how one company trades. Rather it should be providing you with views of all the sites that are available and which are run by established companies. Any such courses should be prepared to provide you with everything that you need to know about the world of Forex trading and not restrict you to using the services of just one or the abilities of one company.
Ricky Lim runs an online forex trading education site for beginners.
Visit his site today for more forex tutorials such as a free forex trading strategy
Article Source: http://EzineArticles.com/?expert=Ricky_Lim
Saturday, June 16, 2007
Learn About Forex Trading And The Easy-Forex Trading Platform
Forex is a market just like any other market that trade goods. In this market you can buy Euro with American dollars or sell Japanese Yen for Canadian dollars. That is really all their is to the whole thing. Many veteran stock market traders have been turned on to Forex recently because of the fast profits that can be made in small fluctuations of currency prices.
How Do You Make Money With Forex?
The way that you make money from the Forex market is the really nothing more than buying a currency at a cheap price and selling it for more. The profit is from the very small fluctuations that take place in the currency exchange market.
The average daily fluctuations in the Forex market are around 1% but the investment profit are multiplied by over 100. If you bought a pair of currencies that increased by 0.3% in a couple of hours after the purchase your profit would be over 30% return on investment. This is a much bigger and faster rate of return compared to the average 8% the stock market gives to investors. The other great thing about the Forex market is that these returns can happen in one day or even a few minutes!
When investing in the Forex market you can never lose more than your margin. You can profit as much as you want but never have to risk more than you originally invested. You can choose the pair of currencies in any direction the market is moving in and still make a profit. Whether the exchange rate is moving up or down you can either buy Euro and sell dollars or buy dollars and sell Euro.
How Do You Trade In The Forex Market?
When you start trading in the market you can select a pair of currencies and decide the volume or the amount of the deal you wish to trade with. Next you deposit the margin which collateral is needed to complete the process. This is usually a tiny portion of the deal around 1%.
Before you decide to make the deal live you still have the option to "freeze" it for a few seconds. During this time you can change the terms, go through with it or forget about the whole deal. When you decide to accept the deal and it is running you hold an "open position" in which you can monitor the status of the deal. Once the deal is running you may change some terms or close it. By closing the deal you can take your profit or minimize ant losses that you might have incurred.
What Is The Easy-Forex Trading Platform?
The Easy-Forex Trading Platform allows investors to get started right away with Forex trading online without having to open accounts or fill out long forms and applications. Forex traders can deposit money instantly and start trading with a credit card or Paypal account.
Easy-Forex also provides investors with all the tools and support to make the best deals and maximize profits. They offer 1-on-1 training and support and can help walk new investors through the whole process of making a currency exchange deal.
The Easy-Forex Trading Platform also has features like a "stop loss" which can let you decide at what rate you want to close the deal to take any profits you might of made or prevent losses. This can be setup so you do not have to be in front of your computer when you hold a open position.
Most importantly Easy-Forex lets you start trading with as little as $50 and also has demo mode feature so that you can do practice trades and learn the Forex market. As with any market trading, Forex trading involves a substantial risk of loss, and may not be for everybody but the Easy-Forex Trading Platform helps new investors interested in the currency trading market get started in as little as 5 minutes.
You can get started in the currency exchange market in as little as 5 minutes with Easy Forex. Read a complete review of the Easy-Forex Trading Platform and get started with Forex trading at http://www.EasyForexReview.com Article Source: http://EzineArticles.com/?expert=Steven_Tabor |
Learn Forex Profiting In Just One Month
These two basic strategies are technical analysis and fundamental analysis. Both strategies are also intrinsic within the equity markets. Where fundamental analysis is more prominent in equity markets, technical analysis is more widely used in forex trading. Any savvy trader who wants to experience forex profiting should be able to spot entry setups early, minimize his or her risk, and when to exit.
It is important to exit at a time that optimizes your profits rather than resulting in a loss. Over time, and with the help of resources, any day trader will be able to learn to read and anticipate within reason the trends of the market. The foreign exchange market is the largest market in the world that involves the trading of cash. Perhaps that is why so many investors attempt to achieve forex profiting. When one currency is traded for another, investors must carefully watch the market, as currency values are a constantly changing thing. A wise investor may make the most of his initial investment if the market is monitored during the long trading hours - usually twenty-four hours a day.
Earl Taylor is an expert opportunist with 8 years experience as an internet marketer. He is the author of careerjobs.bizland.com. His diligent research and precise recommendations has been known to help thousands. To learn why 95% of forex traders lose money and the only 3 days each month an individual trader should jump into the forex market and profit 10-30% consistently every single month, visit: careerjobs.bizland.com/forex-profiting.html. Article Source: http://EzineArticles.com/?expert=Earl_Taylor |
Mini Forex Trading - Profiting From Forex Trading Without A Lot of Cash
Mini forex trading allows those new to forex trading to get a feel for it wihtout risking the amount of capital you would normally use when trading the forex.
So how can mini forex trading help you to make trading profits?
The reason for the 'mini' is obvious. The forex trading contracts are much smaller than the typical forex trading contracts. Mini contracts are about one tenth the size of a typical forex trading contract.
Mini forex trading is an advisable way to start trading the forex if you are staring with a small sum of money. You can test various forex trading systems without a lot o risk, keep good records on your trades and the result, and refine your trading techniques.
Then, as your trading improves and you build your portfolio, you can graduate from mini forex trading to larger, more typical forex trading contracts with confidence that you have a profitable trading system in place.
You can open a mini forex trading account with a lot less money, usually around $300 instead of the thousands required for a typical forex account. The high leverage available to forex traders still applies but you are obviously risking a lot less money in a mini forex account.
Keep in mind, your money is just as much at risk in a mini forex trading account as it is in a regular account. You just don't have as much at risk to lose. But you can still lose it all, and then some, due to the leverage options available.
This means that you need a trading system in place and you must adhere to that system with iron fisted discipline and not let emotion get in the way and cause you more problems and headaches.
Even in a mini forex account, you still need to know what you are doing and be familiar with various forex trading ideas and systems such as trade signals, proper chart points, targets, stop-loss and more.
With the right strategies in place, mini forex trading can be quite profitable but you need to do your homework before risking your money.
Learn more about forex trading tips and tactics for more profitable currency trades at http://www.forextradingtactics.com where Richard Pfaeltzer, an investor and freelance investing and success writer, contributes articles on forex and currency trading Article Source: http://EzineArticles.com/?expert=Richard_Pfaeltzer |
Online Forex Trading - 4 Tips to Make Triple Digit Gains
This article is all about taking calculated risks at the RIGHT time to make money fast.
Much of this article does not adhere to conventional investment wisdom - but don’t let that bother you, as 95% of traders lose all of their money or only manage to make mediocre gains.
First, let’s start with an interesting fact:
I once knew a retired woman of 81, whom with no previous experience learned Forex trading in three weeks. She then started trading and made 129% annualised profits over 3 years!
She broke many conventional online Forex trading rules - but she didn’t care, and she made a killing in the Forex markets - and you could too.
Let’s look at how she made big gains in her online currency trading.
She had a simple method:
1. She drew her charts by hand, and looked at support or resistance. When prices approached valid resistance or support, she looked for it to hold or to break.
Then, all she did was use two indicators to time her entry, (stochastic and RSI) and make sure she was trading with price momentum.
She went the way price momentum told her – but it’s the next points that may surprise you. The following is what really gave her currency trading success, and triple digit gains:
2. She traded infrequently
In her first year, she traded 3 times. In her second year, she traded 5 times. In her third year, she traded 3 times.
Her logic was:
Why trade if the risk reward was not heavily in her favour? Many impulsive and impatient traders could learn from this bit of Forex education!
She once said, that she’d wait until the trade gave her conditions that made making Forex profits, as easy as picking up her pension at the post office.
If you think about it, in currency trading how often do the really big trends come along? - Just a few times a year and these were the ones she hit hard, using her Forex trading signals.
3. Hit trades hard.
You hear a lot about diversification being the way to make money - but this lady held the view, that all it does is dilute your profit. Therefore, she only focused on one trade - and piled as much money as she could into the position.
She simply placed a monetary stop - and if she was wrong, she took her loss in good humour.
4. Courage and Discipline
The trades she hit were the ones she believed would be the big winners, and likely to pile up tens of thousands of dollars.
Therefore, she let the trade breathe - and anyone wanting to learn Forex trading should take note.
Her view, (which is right) was that most Forex traders want to make money - but lack courage of conviction - and cannot take a big profit. They try so hard to protect their profit when they make one, that they move stops up too quickly - or snatch their profit too soon.
Sometimes she would see her equity dip by thousands a day, but she stood firm. As she put it: “I have my eye on the bigger prize” - and that was a profit target that was far bigger than most traders aim for.
Her currency trading system worked, and it worked well.
Interestingly, she broke a lot of so-called accepted investment wisdom - she didn’t trade much, didn’t diversify, didn’t trail stops. However, thinking about it, isn’t that what the losing majority of traders do?
As she put it: “Why join them? I’m cleaning up in my currency trades - and they’re not”.
If you trade in the online currency markets, and want to make triple digit gains - then maybe you should consider how she achieved them. It makes sense to me, and maybe to you too.
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The Benefits of Forex Trading Systems
The first major benefit of the Mechanical System is you can automate this system and back test it when you need to. However, it does have rigid rules you will need to follow. This is a great system if you want to keep your emotions in check as you decide on your trades.
On the other hand, the back testing feature is great only if you know what you are doing. This means you can back test and produce wrong information for trading. You can, however, subscribe to a tick data service to ensure you have the correct information. This also means paying for the extra service.
You also have to keep your technical analysis up-to-date. Not all the equations will change in a day or two, but in one year, or two years market conditions will have changed many times. If you keep using the old equations, you will get the same results that were applicable when you first bought the system.
But the mechanical system is the one for you if you just want to know when to enter and exit the market with your trades.
Now, let us look at the discretionary system
The great thing about this particular Forex trading system is that is easily adaptable to new market conditions. This works well for the constantly changing Forex market and is a major advantage over the mechanical system. Also, as you use the Discretionary system for some time, you will get to know how to interpret easily the buying and selling signals. This means you have a higher likelihood of profitable trades.
Your concerns would include your inability to either back test or automate the discretionary system. After all, how can you automate your habits, judgments, and aha moments. If you could, you would not trade but sell your system for profit.
It also takes time to gain experience, as well as develop a successful trading strategy. Some people have spent many years before they can master this aspect of trading. But once you get it right, you are well on your way to big checks from your broker. Though, in the early stages of trading, you could expose yourself to risk because of ignorance.
There you have a brief analysis of the benefits and concerns of the two Forex trading systems. You need to decide one or the other based on your personality. You may have a better edge with the Mechanical system if you can follow instructions well. On the other hand, if you prefer using your emotions and experience, the Discretionary System might suit you better.
Get the latest in forex trading systems know how from the only true source at http://www.forextradingline.com/. Check out our forex trading systems pages. Article Source: http://EzineArticles.com/?expert=Milton_Z._Ziegler |
The Top Four Forex Brokers
Saxo Bank’s ForexTrading.com offers 24 hour online trading, streaming news from three major providers, detailed analysis from in-house experts, direct online chat to dealers, and a secure trading environment.
GAIN Capital gives its asset managers robust technology, wholesale dealing spreads, consistent liquidity, fast execution, and access to a wide range of sophisticated tools. GAIN Capital’s proprietary trading technology today supports over $60 billion in monthly trade volume. GAIN Capital’s FOREXTrader has streaming prices in 14 currency pairs, real time profit and loss account information, sophisticated risk management tools, a variety of simple and complex order types, and full reporting capabilities.
Professional dealing practices and a service-oriented approach has earned GAIN Capital a reputation as a world class provider of foreign exchange services. Client and partners from over 110 countries currently rely on their technology, execution and clearing services, and administrative tools.
For individual investors, GAIN Capital operates FOREX.com, which offers advanced, yet easy-to-use trading tools along with lower account minimums and extensive educational resources.
GCI Financial is one of the world’s largest online brokers offering commission-free trading in Forex. GCI Financial offers Internet trading software, fast and efficient execution, and the low margin requirements. GCI Financial’s free trading software gives the investor the edge in execution, market information, and account management.
GCI Financial offers forex and indices on an online dealing platform. In their forex trading platform the trader can add and remove instruments from the ""dealing prices"" window to fully customize the trading.
Forex Broker Info provides detailed information on forex brokers, forex trading and market makers, and other forex-related topics. Forex Broker Info is the sister site of Incorporating in Florida Web. Article Source: http://EzineArticles.com/?expert=Eddie_Tobey |
Why Trade Foreign Currencies - Forex Trading
The foreign exchange market is one of the largest in the world if not the largest. 9 billion, more than 3 times larger than the stock/equities market and more than 5 times bigger than futures, give Forex traders nearly unlimited liquidity and flexibility. It has been estimated that approximately $2 trillion USD of currency exchanges hands each and every day.
The foreign currency markets are very liquid because worldwide, the most powerful international banks provide a market around the clock. The Global foreign exchange market daily averages of the Bank for International Settlements in 1998 were $660 billion and now have increased to $2.3 trillion (2006).
There is really no insider information in the forex markets. Since exchange rates are calculated by actual money flow as well as by the outlook of financial flowage, which takes into consideration such things as inflation, GDP changes, trade and budget deficits and surpluses, as well as interest rates, it would be difficult to come across so-called ‘insider information’. All of these factors are self-evident, though different projected outlooks may prove more accurate than others. There is less room for market manipulation is there may be for thinly traded stocks.
A equally important property of forex market is the fact that trends in forex market last longer and are more clearly defined than in any other trading instrument. Analysis of forex market charts also often displays identifiable chart patterns of price movement and once a pattern is established, the trend or pattern becomes the most probable course of future price action until the market changes.
Because the FOREX market is so huge, there is no possibility of someone controlling the market price for a long time. When there are a lot of buyers and a lot of sellers, you can expect to buy or sell at a price that is very close to the last market price.
The market maker in the forex market is usually a bank or brokerage company that provides during the trading day a bid and ask price. Example of forex market makers include CMS Forex, GFS, Forex, Forex Capital Markets (FXCM), and Global Forex Trading, all of which are regulated by the Commodity Futures Trading Commission (CFTC) of the USA.
Brokers offer clients access to online FX trading system, platform or software that can make it easy and fun to trade the market and usually there are usually no commission charges. With these trading systems and platforms you can trade the forex markets for free using the same state-of-the-art software packages that professional Forex traders use to help them make real-time, live currency trades. So individuals with a few hundreds of their own currency hope to buy and sell something for a smiling profit. Speculators trade to make a profit by purchasing one currency and simultaneously selling another.
In conclusion I think the FOREX market is one of the best investment opportunities around today. There are great opportunities in the FOREX market because of the constant movements of the exchange rates. There is no surprise that more and more traders are turning to the foreign currency market to take advantage of the fluctuation in exchange currency rates as a way to speculate and trade to increase their capital and wealth.
For more forex trading information, articles and trading resources visit www.online-currency-forex-trading.com a forex portal trading site which provides forex trading related resources such as charts, real time quotes, analysis, broker reviews, trading courses, books and other resources.
John Cas is a writer for www.online-currency-forex-trading.com a forex portal trading site which provides forex trading related resources such as charts, real time quotes, analysis, broker reviews, trading courses, books and other resources.
Article Source: http://EzineArticles.com/?expert=John_Cas
