Forex Basics – Learn the background of the Foreign Exchange Market (Forex). How to Access the Forex. How to Analyze the Forex. How to Trade the Forex. Includes terminology, conventions and trading terms, like: Currency Names and Currency Pairs, Pricing, Pips, Liquidity, Leverage, Lots, Stop Losses, Trailing Stops... and more!
Technical Analysis – Learn about bars charts and candlesticks and patterns, used by the PROs to trade successfully. Learn about the various technical Indicators and which determine trends or oscillations, including: Moving Averages, Indicators & Oscillators: MACD, ROC, RSI, Stochastics... and more.
Money Management – Learn about Money Management, and the importance of a disciplined trading approach. Includes: Trading with sufficient capital, proper use of leverage, evaluating Risk/Reward, developing and following a Trading Plan, limiting downside risks with Stop Loss limits and protecting your profits with Trailing Stops.
Monday, May 28, 2007
Forex News Services
The following sites provide news coverage of events relevant to the forex markets:Bloomberg Currency NewsAbout Bloomberg:"Bloomberg's media services provide real-time and archived financial and market data, pricing, trading, news and communications tools in a single, integrated package to corporations, news organizations, financial and legal professionals and individuals around the world."DailyFXAbout DailyFX:DailyFX is a service of Forex Capital Markets (FXCM) providing 24-hour market news and analysis.Forex Trading News CenterAbout Forex Trading News Center:"The complete Forex portal offering live streaming forex rates, live forex charts, forex news, forex trading forecasts, technical analysis, currency converter, forex books and educational material."Forexnews.comAbout Forexnews.com:"Forexnews.com was created in January 1999 and is committed to enhancing public knowledge about the foreign exchange markets. The site offers the latest insights and analysis in currency markets, freely available to traders and researchers alike."FX Street Forex NewsAbout FX Street:Features real-time quotes, news, newsletters and interactive chats with forex experts from all over the world.Would you like to share your experiences with any of these forex news services, or suggest one we've missed? Please feel free to post your feedback in the comments below.
Forex Signal, Forex Signals Advice
Forex Signal, Forex Signals Advice There are lot's of Forex signals providers out there. New Forex traders might be thinking of looking for a reliable Forex signals provider. Is there any reliable Forex signals providers available?Personally, I will say do not pay for Forex signals. Think about it - if a Forex signals provider sells Forex signals for living, you can doubt their Forex trading skills? Or else if they are pretty good in Forex trading and making lot's of profit, I am wondering why do they still bother to sell Forex signals for money. Thus, what would be the value of such Forex signals providers? The answer is ZERO.There are Forex traders who have been relying on Forex signals arguing those Forex signals providers really help them making money in Forex trading. These Forex traders can even show their Forex trading logs as evidence. After some though, I came out with the assumption that assuming I am the owner of a Forex signals provider, in order for my business to be in black, obviously I need some satisfying customers......
Choose Your Online Forex Broker
Choose Your Online Forex Broker Online Forex brokers are known to be a required evil if you are going to trade in currency. There are also those people who are eligible to trade without outside assistance, but for the normal trader, enforcing to trade on the Online Forex market with no broker is like trying to chase a grizzly bear with a soup spoon. Your chances of achievement are actually very low, and there is a distinct option you would get hurt quite badly. Of course choosing the incorrect forex broker might return results same as to the sick fated bear hunt. That is why it is significant that you select a broker in the right way.First thing to be considered is to be sure that the broker you choose has the proper qualifications. When you look at the brokerage firms in the United States, immediately exclude those that are not registered as a Futures Commission Merchant (FCM) with the Commodity Futures Trading Commission (CFTC). This is again important as this designation means that you are confined against scam and any possible abusive forex trading practices. Covering your personal security before a forex trade has been made is a high-quality way to wade gradually into the forex currency market.
Once you have removed the ones who do not have the required qualifications, and now have a short list of potential, the internet comes into picture. Just don't go with the brokerage firm, which has the best profitable, or gets the most excellent "Law and Order" individuality to assist in the following advertising, research your choices. A superior idea is to send some effective emails to your customer service people. Estimate how long it takes them to get in touch to you. This is, after all, a customer examine ambitious profession.
Once you are pleased with a firm's experience and customer service practices, its time to get down to your self-assurance tacks. Online forex trading speed is forever an issue, so find out how fast it takes your own potential online forex broker to carry out an order. Also, you would desire to know how much slippage could be expected. This needs information, which could be discovered in a phone call, or any email to customer service. You would desire these answers not only for regular markets, but for fast moving ones as well.
Once you have removed the ones who do not have the required qualifications, and now have a short list of potential, the internet comes into picture. Just don't go with the brokerage firm, which has the best profitable, or gets the most excellent "Law and Order" individuality to assist in the following advertising, research your choices. A superior idea is to send some effective emails to your customer service people. Estimate how long it takes them to get in touch to you. This is, after all, a customer examine ambitious profession.
Once you are pleased with a firm's experience and customer service practices, its time to get down to your self-assurance tacks. Online forex trading speed is forever an issue, so find out how fast it takes your own potential online forex broker to carry out an order. Also, you would desire to know how much slippage could be expected. This needs information, which could be discovered in a phone call, or any email to customer service. You would desire these answers not only for regular markets, but for fast moving ones as well.
Forecasting Forex Currency Exchange Rate Movements
Forecasting Forex Currency Exchange Rate Movements
Forex currency trading has turned out to be one of the most talked about online trading options. If you read the views of people about Forex currency trading, you would find that some claim it to be some incredible way of becoming rich overnight while others believe it to be a form of gambling.But the fact is that it is like any other trading and as such works on some fundamental principles. And knowledge to these fundamental principles is essential for Forex currency trading.FX for Forex is the abbreviated form of foreign exchange. And if you don't find it mentioned in the media, well I also don't know the reason because Forex currency trading is the biggest trading market in the world and is one of the best places for investors to earn good money.Forex trading could be understood as the sale and purchase of currencies of different countries. When you deal in stocks or commodities, you use money to purchase stocks or commodities. But in Forex currency trading, money is made or lost on the basis of difference in exchange rates between a pair of currencies.When you buy a stock, you are investing in a company but in Forex trading you are actually investing in the economy of the country whose currency you have purchased. Purchasing currency of a country at the cost of some other currency shows that you have faith on the overall economy of the first county in respect to the second.An example can make things quite clear. Suppose you have the US dollar and Euro. If you feel that (actually its research and not feeling) the dollar is going to rise in price and the euro is going to lose value, as per the current market trends, you would sell euro and purchase dollar. Thus, when the price of dollar rises, you would reap profits. That is how the Forex currency trading forecast works.But if Forex currency trading forecast is so easy, why do most of the experts claim that it is risky and one must be very cautious in investment. Well, because it is very difficult to forecast currency movement. It is not easy to predict the general direction of currencies, and since you always trade in a pair of currencies you need to study the overall economic potential of both the countries and then only can you come to any conclusion.There are no rules about sticking to a pair of currencies. You could choose any pair from all around the world. But if you are a novice in Forex currency trading, you would do well to trade in these seven prominent currencies-US Dollars, British Pound, Euro, Swiss Franc, Japanese Yen, Canadian Dollar, and Australian Dollar Until, and unless, you have a fair understanding of the market, it is advisable to trade in these seven currencies.
Forex currency trading has turned out to be one of the most talked about online trading options. If you read the views of people about Forex currency trading, you would find that some claim it to be some incredible way of becoming rich overnight while others believe it to be a form of gambling.But the fact is that it is like any other trading and as such works on some fundamental principles. And knowledge to these fundamental principles is essential for Forex currency trading.FX for Forex is the abbreviated form of foreign exchange. And if you don't find it mentioned in the media, well I also don't know the reason because Forex currency trading is the biggest trading market in the world and is one of the best places for investors to earn good money.Forex trading could be understood as the sale and purchase of currencies of different countries. When you deal in stocks or commodities, you use money to purchase stocks or commodities. But in Forex currency trading, money is made or lost on the basis of difference in exchange rates between a pair of currencies.When you buy a stock, you are investing in a company but in Forex trading you are actually investing in the economy of the country whose currency you have purchased. Purchasing currency of a country at the cost of some other currency shows that you have faith on the overall economy of the first county in respect to the second.An example can make things quite clear. Suppose you have the US dollar and Euro. If you feel that (actually its research and not feeling) the dollar is going to rise in price and the euro is going to lose value, as per the current market trends, you would sell euro and purchase dollar. Thus, when the price of dollar rises, you would reap profits. That is how the Forex currency trading forecast works.But if Forex currency trading forecast is so easy, why do most of the experts claim that it is risky and one must be very cautious in investment. Well, because it is very difficult to forecast currency movement. It is not easy to predict the general direction of currencies, and since you always trade in a pair of currencies you need to study the overall economic potential of both the countries and then only can you come to any conclusion.There are no rules about sticking to a pair of currencies. You could choose any pair from all around the world. But if you are a novice in Forex currency trading, you would do well to trade in these seven prominent currencies-US Dollars, British Pound, Euro, Swiss Franc, Japanese Yen, Canadian Dollar, and Australian Dollar Until, and unless, you have a fair understanding of the market, it is advisable to trade in these seven currencies.
Is there a best time to trade forex market?
Is there a best time to trade forex market?
The answer to the question," Is there a best time to trade the forex?" depends on your objectives. If you are trading the forex based on earning a higher rate of interest then Wednesdays are the best day to trade the forex. You earn triple the interest on your currency trades.The Forex market,as you know, is a 24 hour market.Forex trading hours, trading time:New York opens 8:00 am to 5:00 pm EST Tokyo opens 7:00 pm to 4:00 am EST Sydney opens 5:00 pm to 2:00 am EST London opens 3:00 am to 12:00 noon ESTAs you can see there is an overlap in trading times.New York and London - 8:00 am - 12:00 noon EST Sydney / Tokyo - 7:00 pm - 2:00 am EST London /Tokyo - 3:00 am - 4:00am ESTAs trading pairs overlap, they become more active. If you are day trading the forex these would be the times of greatest volatility.Remember that the forex market is unpredictable. As we have just seen the stock market ( February- March 2007) can affect the volatility of the forex market.Have your money and trading rules in mind before entering into any trade. Trade a percentage of your account that you are comfortable with and that will not leave you with a margin call if the market does take a major dip.Have your exit strategies in mind before entering your trades as well. Don't be greedy. There are fortunes to be made in the Forex market but fortunes have also been lost here.The key to success in this or any trading market is to know what level of risk that you are comfortable with and to trade with your money rules in mind and not your ego. Trade to make a profit not to get high or pat yourself on the back for your own brilliance at the occasional slam dunk.
The answer to the question," Is there a best time to trade the forex?" depends on your objectives. If you are trading the forex based on earning a higher rate of interest then Wednesdays are the best day to trade the forex. You earn triple the interest on your currency trades.The Forex market,as you know, is a 24 hour market.Forex trading hours, trading time:New York opens 8:00 am to 5:00 pm EST Tokyo opens 7:00 pm to 4:00 am EST Sydney opens 5:00 pm to 2:00 am EST London opens 3:00 am to 12:00 noon ESTAs you can see there is an overlap in trading times.New York and London - 8:00 am - 12:00 noon EST Sydney / Tokyo - 7:00 pm - 2:00 am EST London /Tokyo - 3:00 am - 4:00am ESTAs trading pairs overlap, they become more active. If you are day trading the forex these would be the times of greatest volatility.Remember that the forex market is unpredictable. As we have just seen the stock market ( February- March 2007) can affect the volatility of the forex market.Have your money and trading rules in mind before entering into any trade. Trade a percentage of your account that you are comfortable with and that will not leave you with a margin call if the market does take a major dip.Have your exit strategies in mind before entering your trades as well. Don't be greedy. There are fortunes to be made in the Forex market but fortunes have also been lost here.The key to success in this or any trading market is to know what level of risk that you are comfortable with and to trade with your money rules in mind and not your ego. Trade to make a profit not to get high or pat yourself on the back for your own brilliance at the occasional slam dunk.
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