Forex Trade Brokers – 3 Tips To Kick Start Your Forex Trading Online

March 22, 2014 by  
Filed under Automated Forex Trading

Forex Trade Brokers

As a beginner, you can kick craft your Forex trading (also known as global currency exchange or fx trading) by upcoming the these kinds of guidelines.

3 tips to create off as a beginner to money trading. Tip 1: Choose a trusted trading broker who can provide you with a reliable trading platform.

It is not easy to choose a good Forex broker. Normally I choose a trading broker which is well established and also allows maximum leverage, such as Forex.Com, MIG or Interbank Fx. I prefer Forex.com because you can enjoy minimum capital entries for the live account for as low as USD250. Forex.com provides a lot of different trading platforms and tools such as Forex Trader, Wireless Trading or MetaTrader 4. Personally, I prefer to use Metatrader 4, because it is user friendly and has a stable connection.
Forex Trade Brokers
Tip 2: Open your Forex demo account to start your currency trading.

Demo account allows the user to use “play money” to practice trading with live data. This is very important to a beginner to Forex trading so that they can practice trading without losing real money. As a beginner in online foreign currency trading, you can start a demo account with leverage 1:200. Leverage is a percentage amount of money that you can borrow from the Forex broker. Deposit demo amount should be similar to the future live account amount. For example, we are encourage you to use as low as USD250 to start your demo trading.

After you have downloaded the MetaTrader 4 platform into your computer, you can go to “File” and click on “Open an Account”. You can key in your relevant information to open up the account. Remember you need to enter a valid email address so that your account will be approved. You can get your login id and password immediately after you have created your demo account.

Tip 3: Get your basic Forex knowledge.

It is not easy for a beginner to know how to trade. You can go online and research on currency foreign exchange by searching on Google or reading some books or ebooks on fx trading and get some knowledge regarding fundamental analysis and technical analysis. There are many articles and blogs on this.

However, ultimately, a good Forex trading course can help to accelerate your learning curve, and an experienced coach would be able to advice you and lead you towards Forex trading mastery. Stop what you are doing RIGHT NOW and get your Life Changing Forex Trade Brokers Program. It’ll change your Life Forever!

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Learn Forex Trading – How to Start, What to Know

April 2, 2013 by  
Filed under Automated Forex Trading

forex trading

The forex market is the world’s largest financial market. Every day, almost four trillion dollars are traded around the world. One of the reasons for the rapid growth of this dynamic market is the development of online trading. Online trading caused a massive dissemination of forex trading around the world. Now forex trading is available everywhere. This availability has only increased the chances of profit because of the massive amount of currency that has been inserted into the market. In order to start online trading forex, there are four basic steps one must take.

Step One – Research

The first step before opening an actual account is to research the websites that offer them. Here is a list of the major elements you should investigate before going ahead and opening an account:

• What type of trader do you plan on being? Once you know the answer to that question, you know what to look for in an appropriate online trading site.• Commissions and fees – Commissions and fees are unavoidable, however, based on the type of trading you plan on doing you should look for the type of broker that will be cost effective.• Minimum account size – As mentioned before, based on the type of trading you plan on doing, make sure you’re not going to be below the minimum account size of the given firm.• Free goodies – If the site offers free stuff, take advantage of it. Some of the free things offered by websites are quite helpful in actual trading.• Security – This is probably the most important thing to look for. Make sure the website is legitimate, encoded, and secure.

Step Two – Learn Forex

The second step is learning about forex. Many website offer tutorials and literature that will help you acclimate to the world of forex and become familiar with its systems and terminology. There are at least three basic things you should familiarize yourself with before you actually start trading:• Forex fundaments – You’ll need to learn about currency pairs, spot trading, forward trading, macroeconomic factors that affect forex, and market psychology.• Analyzing charts – A large part of forex trading is knowing how to read the charts. You’ll learn about Candlestick formations, relative strength index, stochastic oscillator, rate of change indicator, directional movement indicator, parabolic “Stop and Reverse” indicator, and moving averages.• Starting market – You’ll probably want to start trading in a specific market, and it behooves you to become familiar with the relevant factors influencing that market (financial institutions, commodities, exports, etc…).

Step Three – Download

The third step is to download online trading software. Online trading software is essentially a program that will enable you to track and trade via your computer. The three main features you should expect to use are:• Charting – The program will automatically chart the currency pairs via live feed from the internet. Additionally, many programs also include functions that automatically track market trends using the chart analysis calculations mentioned above.• Trading – You can actively trade real-time, or you give the computer orders to trade if a currency pair reaches a certain value.• Accounting – The program will provide you with an up-to-date break down of your account’s status, balance, available equity, and open positions. Additionally, the program will provide you with a detailed account history with which you can review prior trades and learn to improve.

Step Four – Open a Trial/Mini Forex Account

The fourth step is to open a trial account or a mini forex account. Each one has their advantages and disadvantages. The advantage of a trial account is that you don’t have to worry about loosing any money, which is especially good if you’re new and inexperienced. The disadvantage is that since you’re not actually making or loosing any money, the chance that you will really care about what happens to the account are slim. A mini forex account is a reduced-risk account in which you trade real money, but the minimum lot size is significantly lower. The advantage is that you get the feel for the real trading experience. The disadvantage is that you can actually loose real money if you don’t know what you’re doing.

The next step is to apply the previous four in a real trading environment by opening a real account. Remember everything you learned from the best forex brokers, watch the market, analyze the charts, and start trading..

Forex Guide: Things That Every Beginner Traders Should Know Before They Start Trading in Forex

February 3, 2013 by  
Filed under Forex Trading Strategies

It’s a fact that forex trading became a highly preferable investment method in the last decade. Combined with the internet as a global 24/7 network forex is reachable to everyone. I’ll not give you about the basic explanation of forex trading in this article. I’m sure that i don’t have to tell what forex trading is. People which familiar or have an interest in an investment know forex already. Don’t they?

Forex trading is basically just an investment

As any other investment, there are always benefits and risks beyond forex trading. Many people/organization, especially forex brokers, its affiliate and those who earn their income by providing some forex related services says that forex trading have so much advantages compared to other investments; Forex is easy, with its non-stop 24 hours market, its wide range adjustable leverage, its automated trading platform, its offered better opportunity for income resource, and many more — you name it as much as you want to…

Blinded by its ‘beautiful dream imagination’, many small/personal traders, especially for the new ones forgot that forex trading is basically still an investment program. Traders should never have a thought that forex trading is an income resource.

Common Beginner Traders Scenario

Beginner forex traders are usually follow the trend of forex trading without preparing and providing them self with an adequate understanding about what’s inside forex trading. Their common scenarios are:

1. Know about forex trading

2. Have an interest in forex trading

3. Looking for an easy and profitable forex services

(Usually by looking for some services with less margin, high leverage, automated trading platform, and less risk? – which is too good to be true)

4. Start gambling with their trades

5. Unable to achieve profits as what their imagination

6. Repeating scenarios 3, 4 and 5

7. Repeating scenarios 3, 4 and 5 again… and again…

8. Realizing that they are loosing too much or that their imagination along these days/weeks/months is wrong (i doubt that it would reach years)

9. Give up and quit their trading for good.

Where did they do wrong in above scenario? Is that wrong to always searching for a better service to back up our trade? In my point of view, there are no mistakes in that scenario at all. But it’s just incomplete, and that’s the most dangerous mistakes made by most beginner traders.

How to Overcome Traders Mistakes and Begin to Make Some Profits in Forex

The facts are, there are just 5% of forex traders which successes with their trading. To become as they are, we should insert step 2.5 in scenario above. This step will simplify above scenarios by eliminating the fourth and eighth and changing ninth step became TRADERS GOAL ACHIEVED.

2.5 Preparing yourself with a solid basic knowledge of forex trading

– Know about the fundamental of forex trading

– Learn about what and how forex market really is

– Train yourself to getting familiar with the technical analysis in forex trading

– Learn how psychological factor affecting in the trading and define our best trading personality

– Be aware in our risk and money management

– Develop your most effective unique trading system based on your knowledge.

We should keep in mind deeply that forex trading is an investment. There is no way that we could be a master in some investment that we’ve just dive in to for days or weeks. We have to do it by the right way, and don’t forget to eliminate your rush in the goal achievement. You will surely find your best trading system that suits you, I guarantee that. But it would cost you some time for several trial and error system testing while you developing your experience in forex trading.

By using an analogical approach as a computer, forex broker is the application programs and operating system. We do need them to make sure that all we need its done, served and executed properly. But, how good the computerization execution speed and its performance are depends on the basic computer specification, which analogically as you.

How to Get Yourself Completely Forex Prepared

Learning and education materials are world widely spreading around us.

1. The first and the most value added a resource of forex trading is through book reading. Forex and investing categorized books are availabe in countless numbers in many bookstore and online bookstore. You should pick some of them to educate yourself with valuable knowledge of the theory beyond forex trading.

2. Try to get into some traders forum to know more about forex trading and the markets. Forex forum also a place to give you an information for forecasting the crowd psychological factor to forecast the currency price movement by examining on how do other traders react in some financial forex related world events.

3. Get a forex course. An expert forex traders or forex broker are offering this kind of forex educational method. The course are usually about the basic knowledge of forex, technical analysis technique usage and its tools, an expert trading advice or maybe in how to develop a particular tested forex trading system which profitable (if done right and backed by your forex basic knowledge).

4. Forex magazine subscription. Some forex magazines are published weekly, monthly and others might be yearly. These materials usually give you information about the updated forex market behavior overview and analysis which can be use for the input of the fundamental analysis of your forex trading..

Daily Do Your Fundamental Analysis Before You Start Trading With Forex Trading Software!

December 28, 2011 by  
Filed under Forex Trading Software

If you want make more profits using forex software, you always need to do your fundamental analysis. If you do your fundamental analysis then you will clearly know when to use the forex trading software. Just by plugging in and turning on your forex trading software will never make you profits and there are even more chances that you loose at the end of the day.

Yes, it is possible! It is possible only if you know when to use it.

Trading with forex software is not at all a big deal. You can make profits, but you cannot make your money double as the forex software providers say, if you do not know when to use forex trading software. If you want to make your money double, you should really know when to use the forex software system. So, when and what is the right time to use automated forex system?

The answer is Fundamental analysis! To make your money double with forex trading software, you should know what fundamental analysis is and should also know how to use fundamental analysis with forex trading software.

Fundamental analysis is nothing but analyzing the economical conditions of a country with respect to the other country. Let us say that you are trading with EUR/USD. Then you need to analyze the economical conditions of America with respect to Europe. There are many factors which affect the economical conditions of a country. So, you need to consider each and every factor that affects the economical conditions.

The economical conditions of a country will never oscillate rapidly. The economical conditions of a country either appreciate or depreciate at a very slow pace. Fundamental analysis is really easier compared to the technical analysis. You just need to spare some time to do your fundamental analysis.

It is a must that every one needs to analyze the economical conditions of a country before they start trading. Fundamental analysis is always important whether you trade manually or you trade with forex system software.

If you want to make more profits using forex software, you need to do your fundamental analysis. If you do your fundamental analysis, then you will clearly know when to use the forex trading system. There are many chances to loose in trading by just plug and playing the forex trading software. And you can never make the profits.

To find out when to use automated forex trading software, you need to do your fundamental analysis. Plug in your forex trading software and let it trade for you, if your fundamental analysis gives you a good sign. Do not trade, if your fundamental analysis gives you a bad sign. Wait until your analysis gives you a good sign and then start trading with forex trading software. You will then surely make huge profits with automated forex software systems and can even double your money in a month.

In trading, both the fundamental analysis and technical analysis play a major role. Fundamental analysis and technical analysis are like the two sides of a coin. If you want to be successful in trading, you need to take care of both fundamental analysis and technical analysis. Any forex software system takes care of the technical analysis but they cannot take care of fundamental analysis. So fundamental analysis has to be taken care of by you and technical analysis will be taken care of by forex trading software system.

There are many traders who lost their money in trading by just using forex system software. A lot of analysis has been done, and it has been found that those traders who lost in trading, even after using forex trading software, lost because they never took care of the fundamental analysis which is a must in trading to make profits. They simply turned on their forex trading software and started trading. They have finally ended up with loss. Just by turning on the forex system and make them trade for you all the time will never make profits. If your fundamental analysis gives a good sign and if you turn on your forex trading system, you can really make good profits. There is no need to make the forex system software trade for you round the clock.

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