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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6 Forex Trading Tips for Beginners

February 28, 2013 by  
Filed under Automated Forex Trading

1. Focus on one or two Currency Pairs

First, focus on only one or two currency pairs. When you’re new to forex trading, it’s tempting to see opportunities in every pair, even ones you’re unfamiliar with.

When I first started trading, I tried some of the more unusual currencies, like the NZD, AUD, and CAD.  I didn’t know anything about the currencies, so I found myself watching news events for a dozen countries, analyzing all manner of charts, and losing my shirt in new and exotic ways. I got into trades after they’d already passed and got hit by news events I never heard of. I managed my money very poorly.  In short, my concentration, capital, and time were spread too thin.

Now I watch only a few pairs at a time, and they are usually overlapping pairs, such as the euro/yen and the euro/dollar. I see trades developing much sooner, and I’m better prepared to take advantage of them, as well as manage them once I’m in the trade.

As a beginner to forex trading, I believe that you should stick to one or two currency pairs. Which ones? I would advise you to go with the currencies that other beginning forex traders have traded most successfully.

2. Pick a Currency Pair that’s a Winner

A couple years ago, I reviewed success rates for the 18 pairs with significant volume, and these were the most – and least — successful for FXCM mini forex traders.

Let’s look at the worst first. The Seven Deadly Pairs all have one thing in common: high volatility. That means opportunities for big profits – but also large losses.  One of the seven deadlies, pound-yen is actually the fourth most popular currency among our mini traders.  Its very volatility – and its popularity as a carry trade – makes it very tempting. But it can be brutal.

In the past three years, it has moved as much as 1,000 pips in a single day several times. Whoever bet right realized a very big profit. Whoever bet wrong probably got a margin call. Approach the Seven Deadly Pairs with extreme caution, and only after you’ve learned with other slower moving pairs.

Now for the Friendly Five currency pairs. Notice they’re almost all Euro pairs.  They also have one thing in common, with the exception of GBP/AUD, — low volatility.  But which ones do you start with? The GBP/AUD has shown good results, but I still don’t recommend you begin with it. It is not highly traded, not very well known, and it has rather wide spreads. Actually, it seems to be the preserve of our best and most experienced clients – probably the reason it has shown good results.

The remaining 4 pairs are better known and, excepting the EUR/JPY, tend to be nicely range-bound.

Since these pairs have had strong support and resistance lines, they tend to create a lot of high-probability, low-risk trades. And, since they are very liquid, they have tight bid/ask spreads, making them inexpensive to trade, with spreads as low as 1 or 2 pips. As always in forex trading, you need to appropriately manage your risk as there is never a guarantee that profits will be made.

3. It’s Your Choice What to Trade

Of course, you might have a good reason for trading a currency pair not in the Friendly Five. For instance, when I started trading forex, I went with USD/JPY.

Why?  Simply because I had lived in Japan for two years.  I followed a lot of Japanese news and became familiar with their major economic indicators and events. So I thought I had a good head start on understanding the yen pairs.

As I began trading the yen, I got to know some of its price patterns. First of all was the patterns formed by the carry trade, the major factor in most yen movements in the decade before the financial crisis hit. Speculators around the world had been carry trading for years, borrowing low interest rate yen to buy high interest rate Australian dollars or British pounds and earning the interest differential. This trading seems to move the yen pairs in an almost predictable pattern.

You can see the gradual build-up, as speculators buy and create long positions, earning large amounts of interest. Then *THUD* the speculators get spooked all at once and cash out, and the price falls off a cliff.  I got to be familiar with this pattern, as well as the events that can trigger the price drop.

All that changed with the onset of the financial crisis in 2007.  Since then, I’ve learned the new patterns of risk aversion in the yen.  Since I watch the same currency all the time, I am familiar with its characteristics, even as they change over the years.

4. Forex Trading Research Is Vital

That much I learned by simply watching the price charts and actually trading.  But trading experience takes you only so far. To improve my trading I had to know a lot more about yen behavior and the Japanese economy. The importance of sales reports for Japanese convenience stores, for instance.  Or how during my evening hours, when it is daytime in Tokyo, an unusually large amount of volume comes from individual forex traders in Japan, and that they tend to be yen sellers.

 

To really learn forex I started to seriously research the pairs I wanted to trade. It was time well spent. And it was free. There are several forex information sites online, and while I might be prejudiced, I would recommend our own free FXCM research site — DailyFX.com, not only because it is so comprehensive but because it provides clear guidelines for forex trading.

When you use DailyFX, you discover not only a trading chart of any currency, but when a particular economic event happens, how important it is and its expected outcome.

5. Don’t Trade During the News

That brings me to one more vital point that might seem to contradict what I just said. You must monitor news events. And analyze news events. But you shouldn’t trade during news events – especially the ones that rattle the market, like GDP and employment releases.

The fact is that during news events, forex trading can be as capricious as rolling dice. In the run-up to the event or release, currency analysts will have published estimates of the outcome or the number. If the estimates prove to be wildly wrong, traders caught by surprise will often panic and take the market in an unpredictable direction – or no direction at all, “whipsawing” up and down, knocking out traders left and right with big losses.

Instead, wait until the market has settled a bit before picking a trade. That way, you’ll be with the large and responsible traders. They’ll wait for the mayhem to subside before risking their money, and so should you.

Another reason to avoid forex trading during news events is that liquidity often dries up and spreads widen, which means that getting in and out of trades can be very difficult. It’s much better to wait, since liquidity returns and spreads tighten again pretty quickly after the event.

6. Trade in Small Lot Sizes

My final tip for today. Realize that you will make bad trades, and plan accordingly.  Trading is a constant learning experience, and you want to make sure your early education as inexpensive as possible. So trade small and keep your leverage small until you’ve got the hang of it. Then make your bigger trades.  A Forex account that offers 1,000 unit “micro” lots is a good way to start.

7. Ready for a Forex Trading Account, Where Do You Start?

The best way to start trading is to open a micro account. It lets you begin with as little as .00 – and when you open any account with FXCM, you get a free interactive course that will take you through the basics of forex trading step-by-step.

8. Summary:
Start with only 1 or 2 pairs, until you get good at them
Choose good, low volatility, low spread pairs to start
Make sure you choose a pair you’re comfortable with
Do plenty of research to learn your pair
Do not trade during news events
Start small

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary, and does not constitute investment advice. DailyFX will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information..

Forex Trading Systems With Forex Trading Tips and Tools

December 28, 2012 by  
Filed under Forex Trading System

Realforexresults provides solid information that you can count on to make decisions about your investments.  It provides forex factory information and forex India information that is timely and accurate.Realforexresults provides articles, information, and forex results that will help you make important decisions regarding your investments.  All the relevant forex related information is available in concise, easy to read articles that are dated for your convenience.

Realforexresults.com has a very clean look and feel.  There is a convenient clickable calendar.  Clicking on a date will retrieve articles written on that date.   This is a nice easy feature that gives you the information you want with a simple click.  With roughly trillion traded on the foreign exchange daily it pays to have the most up to date research available.  Realforexresults provides you critical forex information on a global basis.

Time is money and knowledge is power.  Realforexresults.com provides the information that lets you to control both. The foreign exchange market is global and has no address.  Forex information is the key to making money on the exchange market.  Realforexresults.com is all about providing the latest information from around the globe.   Bookmark realforexresults.com today and stay abreast of all the breaking forex news from around the globe.

The foreign exchange arena can change very quickly.  Information and current events regarding foreign exchange markets is the key to making good investments.   Forex is the only market that operates on a 24 hour basis and spans the globe.   Having real time forex information is the key to success in the global currency exchange market..

Buying FOREX Trading Software – Top Tips For Finding the Best.

April 1, 2010 by  
Filed under Forex Trading Software

Article by Glenn Leader







FOREX Trading Software Buying Tips

FOREX Trading Software has made it easier to make a profit in the FOREX markets. This software effectively compares different currencies in their respective markets. It allows FOREX traders to carry out business 24 hours a day.

There are Two Types of FOREX Trading Software.

1. The first one is known as Server Side Software (Online FOREX Trading Software). This software allows users to log in to their FOREX market accounts. As usual, users need to supply their login credentials (usernames and passwords), and then they can carry out any FOREX related assignment they desire.

2. The other kind of FOREX trading software is known as Client Side Software. This type of software is installed on your own computer.

Both types of FOREX Trading Software allow the users to trade in FOREX transactions at any time.

The Use of FOREX trading software provides several benefits to users.

* One of the most important benefits of using software is the real time FOREX rates.

* The software can aid the user to gain excellent profits provided the data is properly interpreted.

* It pin-points the relationships between currencies.

* A further innovation is that modern FOREX trading software can have charting functions to provide extra intelligence to your system.

* It can provide important information about historic behaviour of currencies.

It is critical that data integrity is protected. FOREX trading software should provide security for its users. There are essential assorted security layers that would be hard for hackers to get into. Security will stop the hackers from hacking into the transaction for a likely change in FOREX rates. Without security, hackers could alter rates and place the business in turmoil which in turn, could crash global markets. The security of FOREX trading software also assures that the personal information of the users is protected.

FOREX trading software lets the traders get a good overall view of all FOREX market conditions at any one time. It helps to increase FOREX sales volumes in the market place. Understand this, the FOREX is very complex. You should know every single detail about your software to make it work for you. If possible, use the latest FOREX trading software and take advantage of the information.

Although FOREX trading has a bad reputation recently, if you use the software correctly, you will make a profit. Remember to upgrade your software when the upgrades are available. But make sure that you can still downgrade if the newer version has bugs.

There are many places on the Internet where you can buy FOREX Trading Software programs. But, make sure that the software meets all your needs. Make sure you fully test it before the guarantee period runs out. It’s no fun being stuck with software that doesn’t work for you. There are many FOREX trading sites that offer “try before you buy” software products. Make sure your software’s accuracy, check your readouts with industry standard exchange rates. Some software allows you to predict future trends, how does it compare with reality? The charting functions in the software will display the history of currencies in the form of a graph. Sometimes seeing data in this format makes it easier to make a judgement call.

When you log into your FOREX Trading Site, you can be rest assured that all your transactions will be secure. You’ll have access to a huge market of sellers and buyers internationally. With the aid of the FOREX Trading software, it’s easy to do business transactions at any time of the day or night, assuming of course, the markets are open. If you’ve never traded in currency before, you can always seek the advice and services from FOREX experts. These experts help you by inspecting the behaviour of the currency transactions you wish to make. When you have more experience, you’ll make better choices regarding which currencies to trade, and as a result you’ll make more profits. FOREX trading software really is an important tool for FOREX trading investments.



About the Author

Glenn Leader is the developer of many profit making systems. Learn more about FOREX Trading Software

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