Month: August 2010

By Shawn E. – Forex online system trading could be easy and convenient. However, it should always be taken seriously if you intend to attain success in the investment activity.

Foreign Exchange Software

Are you into currency trading as an investment and income generation activity at home? You probably have realized the potential of the investment activity for people who like the idea of working online and home-based. Now, through the usefulness of the Internet, you could easily and conveniently trade currency real time anywhere you are as long as there is online connection.

There are available forex trading software and so-called ‘robots’ like the FAP Turbo. Such tools are effective for enhancing your skills and knowledge about the activity. Now, you could go elsewhere or sleep soundly at night and never worry about missing out on any important development that would propel your currency trading activities. The robot would do your job for you if you are not around or online because you are attending some important errands or doing other activities.

Treating Forex Online System Trading As A Business

Forex online system trading is purely business. However, no one could blame people who think the activity could possibly be not treated seriously. If you intend to generate hefty profits and income through currency trading, you would need to make sure you are serious in your endeavor. Buying, installing, and using forex online system trading software should be considered as an important business activity not just because it could significantly cost you money but because it is a helpful tool that would make you succeed as a trader.

As a business practice, forex online system trading should not be viewed and treated as a rich-quick scheme or as an instant profit tool. You have to understand that you could still give the software commands on how it would perform when you are not around. Do not long for instant huge profits by taking more risks than you could possibly handle. Usually, trades that promise larger gains are those that come with greater risks. It would be more advisable to be contented with less or single-digit percentage profits if you are sure your investment is safer and more secured.

Forex Trading As A Hobby

More home-based traders and investors could also view Forex online system trading more as a hobby than as business. That is because the software could basically do all common and necessary tasks and investment activities. The greatest challenge when you are home-based and trading currency online is to be idle because of the convenience and ease offered and facilitated.

Always take forex trading seriously even if you are using trading software that makes your investment activities more of a breeze. Such programs are truly helpful but at the same time, you should still strive to learn more about the industry and about currency trading so you would become a more seasoned trader in the future, if you are truly serious about building a career on it.

About the Author

Why and how should anyone take Forex Online System Trading seriously? Find out more by reading helpful insights at the link Auto Forex Trading.

By De – In your trading plan, you should list a maximum dollar amount you can comfortably lose on any given trading day. Once you hit this level. Your plan should call for you to shut down your computer and stop trading regardless of the time of day or market environment. It is very easy to lose the discipline to follow your rules when losses start to mount. It is a necessity for a trader to remain calm, disciplined and in a positive state of mind at all times. Learning the different chart set ups like following the dollar index will help you make more money when trading the FX market. Traders will now start to trade outside of their plan and use emotions to make their trading decisions. This happens because they have not prepared themselves to trade properly. This is a route that will certainly wipe out your trading account if you don’t correct it soon.

Traders need to learn the little things like maybe not trading during news times. Learning the dollar index charts and watching it for a possible moves in the EUR or pound. You should recognize that a sound state of mind can sometimes be hard to achieve when losing trades are getting on top of you. Watching the dollar index could help you turn your trades into the positive and increase your trading account. To be successful with your trading method, it takes a conscious effort to pull back and simplify clarify one’s thinking and increase one’s patience. There needs to be a single minded focus on sticking with what you trade, and not to dilute it with a bunch of other trading theories and methods. The concept of its all so logical. You should definitely way ahead with my trading after reading your trading plan. You should never pay for stock advice or systems .Euro (EUR), 57.6% weight Japanese yen (JPY), 13.6% weight Pound sterling (GBP), 11.9% weight Canadian dollar (CAD), 9.1% weight Swedish krona (SEK), 4.2% weight and Swiss franc (CHF) 3.6% weight.

About the Author

The u.s. dollar index is an index you should follow especially if you trade the forex and currency markets. Trade the dollar index

By Daniel Shaw – When trading according to the levels of support and resistance the most important thing for every trader is to find a certain criteria of the breakthrough of these levels as a signal to enter the market. The target of the Forex trader is to find the best moment to enter the market, and trading strategy of support and resistance levels gives perfect opportunities to catch a good trend. Forex market is very chaotic and unpredictable. Its complex system is influenced by many factors of the outside world and causes its movements.

It is very easy to find the support and resistance levels by using the Japanese candlestick charts upon making the technical analysis of the market. Let’s see what is hidden behind a candlestick chart that shows a potential breakthrough of the support or resistance level. The most patient traders who are already in the market and keep the open positions will leave their positions open in this risky moment anticipating of the end of the market’s correction. The more emotional traders will see the opportunity to enter the market on the opposite side, trying to catch the top of the market’s trend. The rest will remain as observers, not entering the game and their opinions on the further direction of the price will be different.

At this stage, the behavior of prices stays uncertain, since the opinions of the traders in the market are divided. In addition to that there are still a lot of other participants who are currently out of the market and they are not in a hurry to enter it. It is hard to predict the price at that moment as it may take any direction. This is the moment when the traders must put their emotions aside and be more patient waiting when the trend will start clearing up.

Every trader has his own minimal measure of minimum uncertainty that is needed to enter the market. This criteria is directly related toot he psychology of the person. Since every trader has his own criteria and levels of risk, so they will enter the market at a certain price level at different time. When the bulk of traders make their decision and open the trading position in a certain direction, the market will become the most certain. In the charts it will be presented by a strong trend in a certain direction accompanied by some price corrections.

There are many external factors that decide the market’s direction. The most important one is a fundamental factor based on the analysis of the macroeconomic indicators and events as well as the technical conditions laid down in the past movements. When all these factors contribute to the price movement in the same direction, an experienced trader has an ability to recognize a potential trend before it starts.

Therefore, if you do not have much experience to predict a good trend with the high level of probability, we recommend you make a detailed analyses of the price movements in the past along with technical and fundamental analyses that will give you much more certainty than watching the screen waiting for the breakthrough of the resistance or support levels.

About the Author

Daniel Shaw is a Forex Trading professional. Visit his site Singapore FX to get more useful information and tips on how to tradeForex in Singapore.

By Kelly Price – In this article, we will look at common Forex myths most traders believe which cause losses. If you want to avoid the 95% of losers and enter the elite 5% of traders who make big Forex gains, then this article can lead you to Forex trading success.

First lets look at the biggest Forex myth which new traders believe.

Cheap Forex Robots Work

For a cost of under $200.00 the sellers of these robots claim you can make a huge regular income with no effort. So a lifelong income for just the cost of a good night out – doesn’t quite add up does it? It looks to good to be true and it is these systems are so cheap, because they don’t make money not becuase they do! Avoid these get rich quick systems or you will lose.

Currency Trading Requires Hard Work

This is a common myth and while hard work can help you in many jobs, it doesn’t help you succeed in Forex. Traders who think the more effort they put in and the more they trade, the better the chances are of making money – are wrong. These traders make a lot of effort and take low odds trades and lose. In addition, they try and be to clever which leads me to my next point.

The Best Forex trading Systems are Simple

The trader who thinks, that complex strategies work better than simple ones is wrong – Why? Because simple systems work best and the reason – if you make a system to complex, it will have to many elements to break.

You can Predict Currency Prices in Advance

Many traders think you can predict prices in advance with science and use systems based on science which include – Fibonnaci, Gann and Elliot Wave. If you try and predict Forex prices you will find, your predictions end up as accurate as your horoscope. Forget predication and simply trade the confirmation of price action. Sure you won’t win every trade but if you keep your losses small and run your profits, you will make huge gains.

Why You can Win at Forex

As you can see, successful currency trading requires only a simple system and in addition, you don’t need to work hard or have a college degree to win. If you have a simple system which trades the reality of price change, you cut your losses and run your profits, you can enjoy Forex trading success.

You have to make some effort and learn skills but anyone can learn the skills needed to win and for effort you need to put in the rewards can be life changing.

About the Author

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For free 2 x trading Pdf’s, with 50 of pages of essential Forex info and the BEST Currency Trading Strategies for success, visit our website at: http://www.learncurrencytradingonline.com.

By Arnold Smith – FX strategies can be very helpful in your currency trading ventures. Foreign exchange (FX) is the medium where a country’s currency is exchanged for another currency. It is the largest capital market so far, and a far second would be the New York Stock Exchange. Traders include banks, nonbank institutions, corporations and governments among other individual investors.

The size and nature of the foreign exchange market, since it does not have any physical presence, usually leaves a passerby with the perception that it is foolish and may be fraudulent. Even if the market is seen this way, it responds quickly to changes in the economy.

A market participant would love not to incur to costs when trading. Participants do not want too much spending as it would affect their businesses and could develop more profit. So, we need to have the right tips and the best FX strategies when participating in the market.

1. You should know the current state of the market. If the economy state is growing. Then that would be the best time to trade.

2. Do not trade with huge amounts of money. Never put your eggs in one basket.

3. Identify the market trend. If you’re in the proper direction, then successful trades could be achieved.

4. Time your trades. You shouldn’t be too early or too late when trading. The right time for trading means success.

5. Trade with extra money, trading in the forex market is an investment. You win some, you lose some. Because the currency rate is fluctuating, you need to trade with extra cash, not money that you use for other important things. By far, this is one of the best FX strategies used by a lot of traders around the world.

About the Author

Discover a Secret Forex Signal Service Used by Pros to Make Thousands of Incredibly Accurate Predictions. If you’re really serious about doing profitable trades in forex, then go to http://specialreport.tips4fxtrading.com/ to get your FREE ebook

Top 5 Fx Strategies

By Cedric Welsch – An online forex currency trading scam is hard to spot. Between 2001 and 2007, the Commodity Future Trading Commission investigated 26,000 claims from people who lost $460 million. These are just the people in the United States. Unscrupulous people prey on the hopes and dreams of individuals trying to make money or protecting their investment accounts.

There are seven different warning signals these investors need to pay attention to. The seven signals are investment account set up outside the country the investor lives in, constantly moving accounts to collect the commission, selling software guaranteed to make money, improperly managing accounts, false advertising, Ponzi schemes and indicating the forex market is a low risk and high profit investment.

The currency market is self regulated by the National Futures Association; members agree to abide by certain rules and regulations or their membership is terminated. In the United States the Commodity Futures Trading Commission has some oversight over currency brokers operating here. Other countries regulate the currency brokers operating within their borders; some have oversight and some do not.

One popular online forex currency trading scam is to have an investor submit funds by wire or certified check to an account in an unregulated or under regulated area. Once the funds are received, the funds become the property of the account holder and used for that account holders benefit. The primary concern of any investor should be the return of the investment account; the secondary concern is the return on this investment account.

Potential investors should carefully scrutinize any website of the company they are considering using. Scammers do not waste time setting up and maintaining professional looking web pages. Their web pages are quickly drafted and may contain spelling and grammar errors. Any second grade teacher will warn people about using “professionals” who do sloppy work; astute investors pay attention to that wise teacher’s advice.

There are many ways to find legitimate currency brokers. Most of these belong to professional organizations and have a good standing. They include this information in their advertising and on their website. Other investors in this market can provide valuable information.

Any investor who trusts a complete stranger with thousands of dollars needs to do their due diligence and investigate that currency brokerage. It is easier to spot an online forex currency trading scam by remaining alert and remembering that wise old saying, “If it sounds too good to be true, it is.”

About the Author

Do you want to really make profits with forex? Make sure you get fresh updates ahead of everybody else here: Forex News

Also, you need to know how to read and analyze the trading market well. Learn Currency Trading News

By Cedric Welsch – If you have ever been interested in the world of forex trading, you need to familiarize yourself with online forex currency trading basics before you get started. Understanding how certain aspects of the trades work will allow you to stay afloat in the world of forex trading no matter what brokerage or software you choose to use in your forex trading quest. In order to get started in the world of trading, you need to understand a few basic facts about the business.

Many people get into the world of online forex currency trading basics believing that there is a ton of money to be made relatively easily. While it is true forex trading can net you a considerable profit, what you should understand about this profit is that it is earned, not instantly gained through a few quick trades. One of the most common mistakes newbie traders make is assuming forex get rich quick robots will provide a steady flow of income with little to no input. The simple truth is these robots are designed to give you false hope while pocketing the money you paid for the “license” of their use. Robots cannot accurately predict the flow of the market, otherwise everyone would use them. Do not fall for this scheme.

The most important thing you can learn about the Forex market is learning to read the charts. Being able to spot high odds and knowing which simple system to employ to take the best advantage of a situation can net you much more in profit than relying on someone else’s expertise. Charts can quickly provide you with a summary of all activity in the markets since your last observance, helping you make quick decisions as to which currencies should be traded high and low.

Market prediction techniques rarely work. You need to keep this in mind when you are planning your purchases. Instead of trying to predict the ebb and flow of the market, you should trade breakouts as this is an effective way to make cash over and over again. Aside from sticking with a simple plan that works, you need to be able to trade with discipline. If a particular strategy is not working, you should alter it so that it does. By altering your strategy to conform to the market instead of expecting the market to conform to you, you will have accomplished more in learning online forex currency trading basics than most newbies who begin trading in the first few months.

About the Author

Do you want to really make profits with forex? Make sure you get fresh updates ahead of everybody else here: Forex News

Also, you need to know how to read and analyze the trading market well. Learn Currency Trading News

By Cedric Welsh – It’s hard to walk past the finance section in a library without tripping over a book that claims to be a forex manual for successful trading. Fact is that the only real manual required is a few days in the trenches entering and exiting trades. To be fair, the books do provide some valuable background and clear up the basic concepts. So read this carefully, and it just might do some good.

As a start, there is no forex market housed in some large building packed with gazillions of traders. The forex market is simply a name for a global body of the largest financial entities in the world that trade currency pairs and set currency rates. When someone speculates on currency pairs with the intention of pocketing the difference caused by fluctuations, that’s forex trading.

The first order of business is to set up a margin account with a currency broker. This account doesn’t need large deposits, and can be opened with a minimum deposit in between $1000-$2000. This gives the trader one ‘lot’ to play with, which is $100,000. The leverage available in the forex market is a lot bigger than stock markets.

This may seem astronomical, but in the forex market, the risk is lower. Even so, it’s important not to get carried away in the heat of the moment. Every good forex manual for successful trading says that trades should be placed based solely on analytical data and logic. Just to be safe, make it a rule never to place trades totaling in excess of 20% of the margin account, and make sure each individual trade doesn’t exceed 5 to 10% of the account.

Start with a demo account and paper trades where real money is not at stake. Traders usually offer demo accounts to help new traders get a feel for how the market works. It comes in handy for clarifying basic fundamentals like pips and spreads and how much brokers take, and what’s left for the trader.

Start reading about forex futures contracts, signals, indicators, trading strategies and systems. A very important tip for new traders is to focus relentlessly on one or at 3-4 currency pairs. Even big traders and financial institutions spend all their time and resources on a few chosen currency pairs.

Stay away from low trade volume currency pairs and stick to the popular ones like USD/CHF, USD/JPY, GBP/USD and EUR/USD. All this is basic stuff that isn’t classified as a full-fledged forex manual for successful trading. But it should be enough to start with, so long as our intrepid trader keeps going in the right direction.

About the Author

Do you want to know how you can really make more profits doing forex business? Get the very first daily currency updates ahead of other traders: Forex News Trading

Cedric is an article marketing expert, freelance article writer, link building professional, and freelance seo specialist.

Adam Hewison – Many traders get so involved with the market on a daily or even an intraday basis, that they somehow lose out on the bigger picture. Weekly charts are enormously helpful in giving clues to the future direction of the market.

In today’s video we examine one of the biggest markets in the world, the S&P 500, using a weekly chart. The video runs about two minutes in length and I think you will find it both educational and informative.

Enjoy the video and be sure to share your thoughts.

To see more of Adam’s Videos click here or sign up for Adam’s Free 10-part Professional Trading Course.

All the best,
Adam Hewison
President of INO.com
Co-founder of MarketClub

By CountingPips.com

The U.S. economy expanded in the second quarter of 2010 for a fourth straight quarter but at a slower pace than previously reported, according to a release by the U.S. Commerce Department. The second government estimate showed that the U.S. Gross Domestic Product grew on an annualized basis by 1.6 percent in the April to June quarter following a real 3.7 percent growth rate in the first quarter.

The first estimate for the second quarter, released in July, had shown GDP growth by 2.4 percent. This marks the fourth consecutive quarter of U.S. economic growth after the GDP had fallen for four straight quarters over the second half of 2008 and the first half of 2009.

The latest data surpassed market forecasts that were expecting GDP growth to be revised to 1.4 percent for the quarter.

Contributing to the lower economic growth was a decrease in private business inventories when compared to the first released estimate. Private business inventories added $63.2 billion in inventories for the second quarter which contributed 0.63 percentage points to the GDP . The first estimate had shown $75.7 billion added in private inventories and 1.05 points added to the GDP growth.

Consumer spending was revised higher and rose by 2.0 percent in the second quarter following the 1.9 percent increase registered in the first quarter. Consumer spending makes up roughly two-thirds of U.S. economic activity and the second quarter increase marks the largest gain since the first quarter of 2007.

Imports increased more than previously thought as imports surged by 32.4 percent (from previous 28.8 percent) in the second quarter following a first quarter rise of 11.2 percent. Exports of goods and services, meanwhile, grew by 9.1 percent in the second quarter following a gain of 11.4 percent in the first quarter.

Spending by the federal government rose by 9.1 percent following a 1.8 percent expenditure in the first quarter and was unchanged from the first estimate from July.

The third release for the U.S. GDP is scheduled for September 30, 2010 at 8:30 A.M. EDT.