Archive for June, 2009

Jun
25

Forex Trading for Beginners: Can I actually Begin Marking Riches With Forex?

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With the present financial state of affairs hitting so hard on most Americans and other citizens round the world, the worldwide web is always a great refuge to begin earning some additional bugs from home. But there are certainly so many methods that one can begin making money from the internet. There is no question that forex trading is among the most profitable ways to make quick cash on the internet. There have been lots of talks on how one can raise cash within the four walls of your house without ever stepping into any office door. Rapid and easy cash is a sure attraction for beginners. While access to a laptop with an internet connection is sufficient to get ongoing, the toughest role is the capability to make the right investment verdict. This tool may help you do that: forex derivative Since it can automate some of the work for you.

Just like any other business opportunity, the decision making ability is the crucial part that will decide your triumph or collapse in this business venture. Most beginners end up burning their hands with loads of cash because of their incapability to take the right judgment. The resolution making ability comes with experience. It takes several years of knowledge to appreciate how the market functions, and to analye the background of dominant and small scale companies that will give a profit for your investment.

There are more than a few books and websites that are existing in the market that can direct a beginner on the essential and mechanical aspects of the market. Familiarizing yourself with new market updates is actually a key element that will decide your success with Forex trading. Taking the right investment decision is only one feature of the whole Forex trading. The capability to make a suitable exit is another imperative decision making aptitude, which will decide whether you will make money or not. Every great or bad company has its highs and lows. The market is ruthless when it comes to baffling traders, which is why it is of major value to gain experience in order to survive all these situations.

Beginners can also take help from experienced traders, who can direct them with the correct investment resolution. While, forex invasion has acted liked a means of support for quite a number of traders, it’s also a fact that even qualified traders have lost several deals from time to time.

Forex trading can be an remarkably profitable job, but it’s not each and everyone’s cup of tea. It can lead to your account balance soaring actually high beyond your expectations, or it may just take away every penny that you have. Sometimes you may loose way more that what you put in! To be a successful trader, you certainly require lots of patience, devotion, decision making skills, and most of all the heart to endure first failures.

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Categories : Forex Trading
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Jun
20

Learning to Trade like a Hedge Fund Manager (Part I)

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Learn forex trading from Hedge Fund Managers. Develop a forex system that is purely mechanical and rules out emotional trading.There is a difference between a professional trader and an amateur trader. A professional trader never goes into a trade blindly whereas an amateur always trades based on his/her emotions. If you want to become a professional, than learn from hedge fund managers. You see hedge fund managers have to show good results to their investors for getting investments into their funds. Hedge fund managers have to convince their clients with a battle tested strategy.

As retail or individual traders, our $10,000 account is just as important as any $20 million hedge fund. In fact, our $10,000 account is more important. We are staking our own hard earned money on trading compared to a hedge fund manager. He is most likely trading with other people’s money.

Hedge fund managers follow a step by step process to develop and test their currency trading strategies. Over the years, currency trading has become an important part of their investment portfolio. There is no reason why we as individual traders should also not follow that step by step process to develop out own trading strategies.

One thing must be clear from the start; every trader has to find his/her own edge. We can and should learn from others. But, it is our own methods and insights that will make us succeed as forex traders. Let’s discuss the step by step process of developing our own trading strategies like the hedge fund managers do.

Properly define your trading strategy. Every hedge fund manager like every trader follows a different methodology. Some use fundamental analysis. Other use technical analysis.

The first thing that you need to understand is what type of trader you are and what is the style of trading that best suits you. Are you a day traders? Do you want to swing trade or position trade?

The most important thing for you from the start is to figure out whether you want to trade based on fundamentals or technicals or a combination of both. When hedge fund managers develop their trading strategies they define clear cut trading rules and code them. This way they avoid the pitfalls of emotional trading.

You should decide whether you want to be a news trader. Whether you will use technical indicators in your trading, if so which ones and how! You can’t trade all the currency pairs. You need to pick a few currency pairs and master their behavior. Not all currency pairs are created equal and you need to focus on only a few to become a successful long term trader.

[spin]Every currency pair requires a different strategy to succeed. You need to understand this. Some strategies work best on some currency pairs but don’t work on others. Read more in Part II of this article.|Every currency pair requires a different trading strategy to succeed. You need to understand this. Some strategies work best on one currency pair but don’t work on others. Read more in Part II of this article how hedge fund managers develop their trading strategies.

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Categories : Forex Trading
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Jun
18

The Way To Choosing The Right Trading Software

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foreign exchange trading, in the way that we know now it, would not exist if it were not for the rapid development of (trading software) . These software packages allow forex traders to work from their own personal computers and to interact with the large trading platforms that actually oversee and place forex trades. In addition to being the tool that traders use to complete their deals, many of these software packages also contain multiple sources of information that investors will find very useful. Everything from current pricing to performance history can be looked up in short order using forex trading software.

Quick fact : The forex market is by far the largest financial market in the world, and includes trading between large banks,central banks, currency speculators,multinational corporations, governments, and other financial markets and institutions.

One site that offers their own version of forex trading software when you open an account with them is forex. com. This custom designed software is widely used and has a high rate of customer satisfaction. The site’s customer service center is open 24 hours a day Monday through Friday (basically when the worldwide forex markets are open) so that you can address any issues that you may have immediately. Experienced forex traders know just how costly down time can be, so it’s important to have someone to turn to immediately should any problems occur.

Did you know that the average daily trade in the global forex markets currently exceeds US$ 2-2.5 trillion !

Another great website that offers free downloadable forex trading software when you open an account is gftforex. com. The software they make available to their clients is called Dealbook360. This state of the art trading software is simple enough to allow even beginning forex traders to feel comfortable but powerful and comprehensive enough to keep even the most demanding foreign exchange traders happy and satisfied . In addition, Dealbook 360 monitors some of the tightest bid/buy spreads available, thus increasing your profit margins.

One web site that you may find exceedingly helpful is fxstreet. com. The creators of this page have made a running list of all of the major trading platforms and the banks that support them. Additionally, the software packages utilized by each company are listed here. This information will allow you to choose your institution based on software if you feel more comfortable with one program than another does. This site also provides information on which sites offer the best customer support. Whether it’s online support, phone support, or even live support, you can find out what is available as fxstreet. com.

You will find that most forex trading software is similar in design and function. The features that separate good from bad are the support features that each (Forex) company offers with its trading software. Before you choose a foreign exchange trading company to use, make sure that you do plenty of research on all of the companies that you are interested in. Take advantage of the investment simulators that each offers on its site and get a feel for how the forex trading software works in real time. Read consumer reviews to see other forex trader‘s opinions and experiences with a given company. Check to make sure that their customer service record is reliable and prompt.

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Categories : Forex Trading
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Jun
14

Forex Trading – Here Are A few General Entry Mistakes To Keep away from

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forex trading needs plenty of order and carefulness, especially once it comes to making entries. Some lurking mistakes at entrance points can rotate possible profits into high-risk losses. Amongst the appropriate strategies of entering a trade, There are some common entrance mistakes that can rotate your trading experience into nightmare. This article tries to fetch out a number of of these mistakes.

Plunk Trading Sketch
The primary familiar mistake is not sticking to a trading sketch. Each entry made without pre-determined criteria is most liable to be doomed. Whilst trading forex you need to know precisely what to purchase or sell and wait patiently for the correct moment.

Greed, impulse and emotional trading are your worst enemies. Dumping your regulations after couple of losses and impulsively chasing the market generally hurts to the last cent! Abandoning your mind results in too soon, too late or too much! you can use Forex GridBot for a profitable forex trading.

Squeezing Out Trades
An additional pitfall is staring at charts and intentionally trying to squash out a trading signal that isn’t even there. It is vital not to lose the objective – some days there are numerous signals to explode, and at times there is nothing at all.

World-weariness should not be a factor for trading. My suggestion – each time you put a trade always ask yourself if this particular trade makes sense or you are simply forcing it.

Uncertainty and Fear
Hesitation and panic are in human nature. One of the issues many forex traders face is not entering a trade when supposed to. My resolution is to keep a diary of all trades. You can then study and correct all of the past decisions and become more sure regarding the trading set up.

Hard proof of a trading policy that works is the greatest tactic to build up the guts and convince a trader to go in the next time chance comes up. Speaking of proof, keeping the trading journal is the most excellent approach to figure out whether there is in fact a flow in your system. And if there is no flow and your decisions are steadfast, only fear and uncertainty are responsible for keeping you from proceeds.

Expectation of a Move
Verification can save you a lot of funds and headache. Here is another error that lots of forex traders undergo – anticipation of a move. I say, always wait for a confirmation before you go in a trade. Remember that you should “trade what you see, not what you think”.

On the whole entry/exit is just a small fracture of forex trading. With no strategy, full understanding of patterns and mechanical analysis, stop loss, army discipline and careful planning based on skill, entry is worth nothing. However, understanding and analyzing entries should augment your self-consciousness, show the way to more perfect signal discovery and enhanced decision-making.

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Jun
11

Moving Averages & Bollinger Bands. Helpful Info to Be Aware of

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Discover forex Magic Machine. Moving averages (MAs) are a very popular tool used by currency traders. They are a lagging indicator of the price action and short and long term trends are easier to identify using moving averages. Read about L.M.T Forex Formula.

MAs are calculated on the trader’s specifications. They can be formatted to different style of trading and time frames. For example, in case you want to use a 90 time frame moving average, the prices of the last 90 times frames is added together and divided by 90.

A moving average can be calculated based on the opening, high, low or closing price within a time frame. Since the closing price is the most important price, most traders prefer to use the closing price. There are three types of moving averages. First one is the Simple Moving Average. Second is Weighted Moving Average and the third is the exponential moving average.

The simple moving average as the name suggests is simply calculated by dividing the price in each time frame by the number of time frames. A weighted moving average gives more weight to the current prices as compared to the prices in the last few time frames. In an exponentially smoothed moving average, the chart is calculated gradually with less emphasis on the prices in the latter time frames. Exponential moving averages are smoother as compared to the simple.

What are Bollinger Bands? Bollinger bands are plotted at a standard deviation above and below a moving average. The base of a band is moving average and the bands width is determined by volatility. Since standard deviation is a measure of volatility, the bands are self adjusting. Widening during volatile markets and contracting during calmer periods. The bands bracket almost 90% of the market action.

Bollinger bands have the following characteristics. They are curves drawn in and around the price structure. This provides relative definitions of high and low. Knowing when the prices are high and low, a trader can make rational investment decisions by comparing price action with the action of other indicators.

Bollinger bands can be applied to mutual funds, forex trading, futures, indices and most other types of trading. Sharp price action tends to occur as the bands tighten and as volatility lessens. A continuation of current trend is implied when the price moves outside the bands.

Bottoms and tops made outside the bands followed by bottoms and tops made inside the bands call for the reversal of the trend. A move that originates at one band tends to go all the way to the other band.

When the bands are flat and narrow, this indicates that price volatility is lower than in previous time periods. The 10% price action outside the bands is most likely going to approximate areas where prices will return to within the bands.

Wide bands are an indication of a very strong move. When the bands begin to flare this indicates increased volatility and start of a new strong directional or trend move.

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Categories : Technical Analysis
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Jun
07

4x Currency Trading – Getting Huge Profits. Helpful Facts to Know

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Anyone who has the desire to gain huge profits from a business venture should realize that it is best to learn all you can about your particular type of business. The knowledge you gain from learning and doing things will be a big boost to your self confidence and ultimately to your business success.

This basic belief also applies when you are trading on the 4x currency trading market. It is known that the forex market is the largest market around the world. It involves trades in excess of over two trillion U.S. dollars in foreign currencies each day. it is even larger than the two trillion U.S. dollars New York Stock Exchange and it exceeds the sum of all equity markets around the world.

Your assignment should you choose it, is to secure as large a piece of the two trillion U.S. dollar forex market pie as you can. But, exactly how can you do that if you don’t know the way to handle your forex business? The answer: You must use reliable online forex software that can help you fulfill your goals in this investment.

For newbies it’s not easy to come up with your own methods that will bring about huge profits. You could first study to gather knowledge about the terminology and methods of trading the forex market, and then build your own software program. However, this could take a rather long period of time to accomplish. There is another way and that is to purchase trading software that does the hard part for you and leaves the profits in your hands.

You must be careful to select the right software – one that will get the job done in a reliable way. This software should have the attributes of a profitable currency Trading System:

1. The profitable currency trading system should first be easy to use and with simplicity. It should be clear what you are to look for, and easy to see exactly when to do a trade or not. Why use a hard to use system when trading can be so much easier.

2. The profitable currency trading system can follow short term trends as well as long term trends. The money is in the long term trends and you should trade that way whenever possible, however, money can be made with short term trades as well.

3. The profitable currency trading system allows you to stop losses and to multiply your profits based on how you set the system to perform.

Trading the forex marketplace is the best profit venture in the world. Many have made huge profits trading currencies, but most important of all, the door is still wide open for you or anyone else to earn those huge profits over and over again. So, get yourself 4x currency trading software and get busy.

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Categories : Currency Trading
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Jun
06

Grab the Online Business that is waiting for to Start. Helpful Points to Bear in Mind

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Although there are craziness about people learning the Internet business but still there are many more people in comparisons to other who don’t have any idea what you kind of business you can do in the Internet and how much you can earn. I am from India and when I started this online business, I search a lot of information in the Google search engine. There are very less websites and blogs which are providing the information. There are some websites who tried to scam people. They succeeded in scamming many people too. I too fall for them earlier. But now I know what kind of website can scam people.

I want to help my fellow from our country India too start their own online business. You don’t need to be a full time. Just do it as a part-time side by side to your main work. Whether you are a student, doing jobs, unemployed and any other whatever, it doesn’t matter much, all can start an online business. You just need a computer and an Internet connection. It will be better if you have your own connections otherwise you can also work from cyber caf

Categories : Internet
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Jun
04

Learn Forex Scalping

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Learn forex scalping. But before you do that you need to know what is stop hunting. This will help you understand how brokers can stop you from scalping. The forex markets are highly volatile. There is so much noise in the intra day forex market; it becomes difficult for new retail forex traders to know where to put the stop loss. The prices in the intra day market keeps on jumping 10-20 pips for no apparent reason.

The noise in the intraday market keeps on frustrating new day traders. They constantly find their stop losses being tripped even when the rates are going in the anticipated direction.

A static 10-20 pip stop loss is an arbitrary choice many traders make. Many new traders also use Trailing Stop Loss. Place your trailing stop loss too close and you will find your stop hit too early. Place it too far and you will have to forgo potential profits if the price retraces.

The actual reality is this that many professional forex traders do use stop loss but mostly place it on their computers making it invisible from their brokers. A better method to place a stop loss is by using a dynamic level that changes as the market rate changes.

Stop hunting is something the brokers are continuously doing. If a broker finds many stop losses at a particular price level on his price feed; he can easily trip them using a momentary blip in the price. You cant even complain. The momentary spike happened due to a sudden large transaction in the market.

However, many professional forex traders only use a stop loss in their mind. They continuously keep on updating it until they get the desired outcome. But you will need a lot of experience trading the forex markets to do this.

Moving Averages, Bollinger Bands, SARs etc can be easily used as dynamic stop losses by you. It is a good way to manage your risk while letting the currency markets to do what it wants.

With more experience, you will learn that placing fixed stop losses actually harms more. Rather than helping, using a fixed stop loss can hurt you more emotionally, psychologically and profit wise.

Try not to trade just before or after a major economic news release. Try not to place stop loss close to/at round numbers. And try not trade in times of thin liquidity in the currency markets.

You should understand that your broker can and will use stop hunting to take out your positions using noise in the market as an excuse. forex trading and casinos have many things in common. You should learn how to beat the markets and the brokers only then you will become a successful forex trader.

You should use a forex system that is tested and simple to use. Primarily there are two trading styles in forex trading: Short term and long term. Short term trading is done when positions are opened and closed on an intraday basis. Long term trading positions may span a few weeks or a few months.

Most of the day traders are short term traders. Day traders love scalping. A position is opened and closed within minutes making a few pips per trade.

Scalping takes advantage of the fact that most of the time the market is ranging. Ranging means there is no significant price movements or volatility. The aim of a scalper is to make 2-5 pips per trade.

The best time for scalping is when the market is consolidating and ranging like when between the close of the US market and the open of the European markets, forex markets tend to range for hours without much movement. This is the time when scalpers like to trade.

But scalpers have to make more pips per trade than the pip spread offered by brokers in order to break even. For example if the broker is giving a 4 pips spread to you than you will have to make more than 4 pips per trade to start making profits. Dont forget the spread is your cost of trading.

In order to become a successful scalper, you need to understand technical analysis well. You should have clear idea of over/under brought, support and resistance zones, trendlines, trading channels etc.

Most of the forex brokers hate scalpers. Since the brokers are most of the time trading against you, a successful scalper can take profits away from the brokers. No doubt many brokers try to ban scalper from trading.

Since scalping means a few pips per trade, in order to make 20-50 pips per day, you will have to trade many times. Dont forget these 20-50 pips are after you have subtracted the trading cost.

Since scalping involves making a few pips per trade, you will have to use high leverage in order for those pips to make a decent profit for you. What about leverage?

Leverage is dangerous. It is a double edged sword that cuts both ways. Leverage helps you if market favors you but it will destroy you if the market does not favor you. So beware of using too much leverage while trading.

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Categories : Forex Trading
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Jun
04

How To Quit Your Day Job And Earn A Great Income Online. Interesting Things to Bear in Mind

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This article explains how people can get started working on the Internet and eventually leave their day job.

Some people get started working online to make a little extra income. Some are drawn in by the claims that you can make enormous amounts of money on the Internet. But can you really? Or is this just a myth? Many people who work corporate jobs are starting online businesses. With corporate jobs, it isn’t unusual for you to have to work quite a few hours as you move up the corporate ladder. Sure you make more money as you advance in your career, but if you are salaried, you often work a lot of overtime for the same pay. The great thing about the Internet is that you can often work whenever you want to. Once you put in your time and get your online business started, they can practically run themselves. This means you have the ability to make as much or more than working in a corporate job, but you don’t have to work as many hours. It isn’t unusual for those with established online businesses to work about 50% as much as those who don’t.

Affiliate marketing is a very popular way to make money online. This basically means you market for companies on the web. The great thing about this is that you don’t have to worry about customer service, inventory or shipping. You just bring the customers to the companies you are marketing for and they pay you a commission for sales or leads. Once you get your business running on a small scale and it is profitable, you automate it and then you work on increasing traffic. More traffic means more profits, with the same amount of effort.

So, how do you get started? There are many companies online that will teach you everything you need to get stated in affiliate marketing. This is the easiest way to do it. Once you get started, you can branch out into other areas if you want to. Many people start their Internet businesses while they are working a full time job. The flexibility of the web allows you to work evenings or weekends while you are getting started.

There are a few things you should remember when starting an online business. Read as much as you can. There are lots of articles and forums online, but the best way is through ebooks. You learn more, faster with ebooks, because people are more willing to share their secrets to success, when you are paying them.

The other thing to remember is to never give up. Keep experimenting and testing to find out what works and don’t forget most people fail before they eventually succeed. This is normal when starting anything new.

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Want to know a proved method to make money? Then forex trading is just for you!!!

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Jun
04

Money Management Rules (Part II). Useful Info to Remember

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Discover a revolutionary new forex robot.You must have read Part I of the Money Management Rules article. Failure in investing comes in two forms; Failure to maintain your principle and failure to effectively grow your principle. If you want to become a successful trader, than you need to learn how to grow your principle in the long term.Try Netpicks forex signal Service.

If you risk too much, you lose a large portion of your account. Risk more to try to recover the lost amount and lose all your account. There is another form of failure. You are able to grow your account 20% annually. On the surface, you may be a successful investor. But, if you had a good money management plan you could have made 40% annually. So was it a success or failure.

How much is truly at risk in a single trade? Many traders misunderstand this. Suppose you have a $10,000 account. You buy one lot of EUR/USD that is $100,000. Your broker will set aside $1000 in your account as a margin. So how much of your money is at risk? Many would say only $1000. They are wrong. You have now only $9,000 to trade. So your risk is $9,000. You could lose up to this much before you receive a margin call from your broker.

A margin call is an order when your broker automatically takes you out of the trade because you have no more money left in your account. Once you get the margin call, it means you are out of the trade and have only $1000 left in your account. So how could you lose $9,000 in a trade?

Each pip on a EUR/USD contract costs $10. So if you lose 900 pips (900*10=9000), you have lost $9,000. Many would say where the stop loss is. You are right; you don’t need to risk your whole account on a single trade. You can use stop losses to protect your position. You could place a stop loss at 100 pips losing $1000 only or 50 pips losing only $500.

No matter where you set the stop loss, the amount of money that you set aside with your broker as margin does not tell you anything about the risk unless you plan to get a margin call. Understand these common money management pitfalls. Until and unless, you do not develop your own money management rules, you will most likely slip into one or more of these pitfalls.

Investors who enjoy the greatest amount of success in their forex trading are those who have clearly established rules that govern their trading. Those rules are; 1) Live to trade another day, 2) Knowing how much to risk and 3) Knowing how to determine the trade size. You should read Part III of this article to know more on these rules.

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Categories : Forex Trading
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