Forex Trading Psychology

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First fatal psychological mistake.

Following blindly is the most Forex traders' fatal psychological weakness. As new financial data is published, most Forex traders will rush to be first to enter the market. In such situation, most Forex traders seem fearless, not fearing making losses and only worry that others are making profit and worrying that they must enter or lose money.

There are many Forex traders who watch the Forex chart closely, and will enter a market when the chart show a steep movement. They don't even take time to understand what are the forces causing movement. It may be too late when they finally realize that it is a false alarm because they are already in the losing position.

When it comes to trading, one of the most neglected important subjects are those dealing with trading psychology. Most traders spend lots of time trying to find that perfect system. But having a good operating system is just a small part of the game. It is very important to have a system that well suits the trader, but it is as important as having a money management plan, or to understand all the psychology barriers that will affect the trading decisions. In order to succeed in this business, there must be an equalness between all important aspects of trading.

When you lose a trade, what is the first thought that pops up in your mind? It would probably be, "There must be something wrong with my system", or "I knew it, I shouldn't have taken this trade".

FOREX trading is pure volatility and 80% of all trades do not last more than 2-3 days. Most of them become daytrades. It is easy to accept that conditions can and will change in a heartbeat, rendering most trade plans obsolete.

One principle is about cutting your losses at an early stage. Some traders want to believe that their losses might do well after a lenghty waiting time. More than likely the market moves against these non-profitable positions and make them lose hundred of points. Even if they rise again they will be unprofitable. Do not be caught up in the thought that every trade should be profitable. If you can profit from half the number of your trades you are on the right track. If you would like to get even and profit if only half of your trades are winners is to allow your winners to run and to minimize your losses.

Another principle is playing smart by not letting your emotions rule in trading. Be objective with your decisions. While in the market,be sensitive enough to see the factors that may have influenced the changes that worked against the original analysis you had worked out.

Expect the unexpected,both good and bad. Understand these happings, be prepared, and take the appropriate actions. A good psychology plan takes into consideration that you can not predict what is going to happen in the market.

Unless you're trading in short positions, only increase your position when prices goes up, not down. Generally, when a price starts to move it usually continues in that direction for a while.

How to Handle a Losing Streak:
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Don't overtrade. If you are trading several currency markets and not having any success, cut back to trading one or two markets. Follow those fewer trades more closely and document your success or failures more easily. Plus, your trading account won't be drawn down so quickly.If you trade less you may discover why you are not successful.

There are many automatic Forex Trading Programs available. Research those programs and your money will probaly go further.
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Forex Charts - Don't Trade Forex Without Them

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These Internet days forex charts are prepared by software which study the historical and the current data to generate the bigger forex pair picture for the trader. The trader may choose his charting software as per his needs. Many online forex dealers and brokers provide some very good charting services free as part of their account package.

Forex charts are graphs or tables indicating at any given time the conversions among currencies or the exchange. Some charts compare two currencies where as other charts may compare multiple currencies. Forex charts are handy, since not only do the charts provide visual aids, they monitor the foreign currency marketing exchange, or Forex, and provide up to date quotes. The charts keep accurate price records, which project what the results of each year will bring in the currency trade industry.

Forex charts are not something that can simply be glanced at and comprehended within a matter of minutes. The most successful traders will take their time to fully evaluate and act upon the data that is presented. Forex charts are essential in helping the trader find a particular currency's value in real time. It also spot trends and helps the trader understand lots of complex information quickly.

Forex charts are one of the most important things you should learn in order to successfully trade in the Forex market. Without this knowledge, you are very likely doomed to fail in this very liquid active market.

Forex charts are used by both fundamental and technical analysts. A fundamental analyst is trying to find a correlation between a trend seen on a chart and "macro" events that are occurring in real life such as political events or financial announcements. Forex charts are usually available online by joining a service. Most forex dealers offer charts free of charge to account holders. Charts remain very current and can be checked constantly. Forex charts are easy to interpret, especially for someone that has invested in or day traded stocks before. When looking at a real time chart of a stock, the trader has to select the chart period (1 day, 5 minutes, 15 minutes, etc.) and the ticker symbol of the desired stock. The same process is followed by the forex trader.

Currency trading is regarded as the largest financial market in the world. Players participating in currency trading within the Forex market are large banks like Citibank and Deutsche Bank, nationalized and government banks, multinational firms, financial institutions and investment companies. Currency day trading is the new way to speculate. Forex has a lot of benefits to offer the modern investor. Currency trading volume is relatively high 24 hours a day, but there are considerable peaks in activity when the British, European, and US markets are open simultaneously, which is from 1 pm GMT to 4 pm GMT. Pacific Rim markets, such as Japan and Hong Kong, show a dip in their trading volume while there is extensive volume in the US market at the very same time.

Technical analysis is used to identify patterns of market behavior that have long been recognized as significant. For many given forex chart patterns there is a high probability that they will produce the expected trading results. Price bars are a linear representation (a line) of a period of time. This enables the viewer to see a graphic representation summarizing the activity of a specific time frame.

Price ranges of high volume can indicate support when the stock is trading near a low just above a high volume area. Likewise, price ranges of high volume can indicate resistance when the stock is trading near a high just below a high volume area.

Forex charts help you to trade smartly, and gain the maximum out of Forex trading. If you can afford it I suggest that you trade with a bank that offers retail forex trading, a big bank like Deutsche Bank is certainly safer with counter-party risk and offers an excellent trading platform for your use as an account holder.

Online sites have a large variety of services for beginners, intermediate, or even skilled traders. For beginners, online sites may include education, training and other demos on how to start trading. Online forex trading requires only that you have access to the Internet as well as some initial capital to open the forex trading account. Your initial investment need not be too big, but realistically your chances of being successful at trading are improved when you open an account for at least a few thousand Dollars.

That is if you use careful money management in determining the size of your positions, in establishing stop loss points, and pay close attention to your forex charts. If you are careless in trading forex over time you will lose no matter how good your platform and charting service may be.
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In case you want to trade on Forex get it studied initially

We do not have to learn finance in a business courses to realize that Forex is the largest market all over the world. By the rough estimations there are more than 3 trillion dollar everyday turnover there. That is the really giant market and it has got some amazing characteristic as the high liquidity.

The high impact on this market is produced by banks, hedge funds and other financial organizations. You may visit or skip Forex courses, set up an account with your broker and start trading any of the world currencies.

Amazingly, the amounts of profit on global foreign exchange are quite low if compared to another market of fixed interest. The most significant benefit of this market is the giant volume of sales. It is quite common procedure that the individual traders apply for a loan from bank to have more funds that they may utilize in their trading actions. That is quite risky to resolve the complexity in this way.

On a ordinary stock market everyone pays the same cost. Forex utilizes the other system. The traders that invest bigger sums get better terms. The terms on Forex are the spread between the bid and ask price. The difference is smaller when big traders operate.

Huge banking enterprises are responsible for about 53 percent of foreign exchange turnover. The trading actions are usually speculative.

International commercial organizations play the very significant role on the foreign currency market. The exchanging operations are the inalienable part of their business as they have to pay salaries and provide finances to many various countries.

Hedge funds that have billions of dollars and national central banks that want to manage their currencies are also capable investors on the world currencies exchange market.

The opinions that the Forex market operations imply the low level of risk and the giant earnings can be frequently heart. Such slogans are produced by the Forex scammers. Their purpose is to attract more traders who do not really understand what is trading.

A lot of beginners in this field do not understand that Forex is simply a zero-sum game. If one trader earns something, another player has to lose. For the retail trader it is important to understand that lots of operations are performed by the well-skilled experts that have a lot of advantages as the access to some useful information and the financial support.

Lots of people get sums of money performing the trading actions in such sphere as arbitrage. But we may realize that if the number of people will get the same conditions and terms then the winning pot will not raise. There is no matter how many persons are trying to get all the money, its quantity will not change.

You have to realize that the risk is significantly grows if you utilize the big credit. The ratio for the experts is commonly not greater than 10:1, but the retail beginning traders may approve utilizing of 50:1 or even greater. If you ever decide to trade on Forex, only trade with money you may afford to lose.

Author Resource:- Nowadays there are lots of various finance markets which are placed in the global network. The most known is Forex. It has truly huge volume and the high liquidity. That is quite interesting market due to most of actions are conducted by national banks and huge financial corporations.

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Making Money Online - make money working from home.

Here I would like to share my own experiences while I attempted to make money working from home.

Everyone knows that it is not an easy task especially for a newbie to make money online. It requires lot of patience and perseverense. Two years ago when I decided to make extra money using Internet, first I opted for easiest job I came across, to work as home based typist for some companies. Some of them required to place ads for their companies and some offered some online data entry jobs. In case of ad typing job the compensation given was very less and irregular and I was required to honour the deadlines. They called it data entry, type at home and work from home jobs, soon I realised they are not data entry but just a way of advertising those same companies. bringing more and more people to do the samething again. The other job which looked like a real data entry job was typing in an online format, some data given by them. However here the volume was so much and accuracy demanded was so high that it was virtually impossible for an average person to complete the task in the given time limit. The joining fee was non-refundable. I could not finish even a single assignment in time.

Subsequently I tried various other programs like paid to read e-mails, paid to surf, taking surveys, some high yield income programs etc. etc. none of them worked for me. I even tried stock and forex markets, I found them more risky.

Later I came to know that, if I want to make profits, I must sell some digital information products to people. The best way would be to create own product and sell it online with 100% profit, but it is not easy for everyone to make own product and build a website with an attractive sales pages. Then easier way is to sell other‘s products which we normally call affiliate programs. I started with Clickbank products. I used ad placing in free classified free websites, I started getting results with practically no investment. Then I took multiple products and placed in a simple website and added adsense on it. It worked even better. I started using Adwords with cheaper bids like $0.10 per click. The performance of my home business improved. But then these days the cost per click for normal keywords have gone up and it requires more skill to use Adwords now. most of my ppc campaigns started showing losses.

Having said this, I think for a beginner who tries to make money with work from home job, The safe start would be to try PPC publishing like Adsense and then try some affiliate programs from that website. The basic steps and guidelines required for a beginner, I have given as free information for the benefit of users in a website http://freestuff4us2.com . If anyone wishes, can visit this website to get basic information to make money online from home, I hope this website will help them getting started in money making home based business. Lastly one should keep in mind that advertising or marketing is the most important aspect of any online home based business. The most inexpensive way to promote yor website is to keep a good quality and unique content in the website and build more and more numbers of inbound links from other websites, which can be achieved by ad placing and buying some one way or three way links. Reciprocal links with similar sites is fine. So, now I am happier with regular adsense income and occasional sales from my websites

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What moves Forex?

If you have decided to give forex a go then you will want to know what influences the outcome so that you have the best chance of making a profit. There are many things to consider when making your trades in forex, you have to asses everything so quickly you may end up making silly mistakes costing you a small fortune in the long run. You should always ensure that you have read up on various tutorials and spend a good amount of time trading with the free money so you are confident that you can put them into practice successfully increasing the chance of you noticing a big event about to happen.

You can actually get tips from the experts which are a great advantage because many people have spent years studying forex and how it works so if they are a reliable source you should definitely take into consideration what they have said. Be careful that you don’t fall victim to people wanting to charge for this information because you cannot trust everything that you hear, especially from people you have never met before. You have to think to yourself, why are they charging for this information? If they are good at analysing the market to get the best picks they should have no problem making money in the first place. With this in mind you are strongly recommended to never pay for hints and tips from people claiming to be experts.

You can learn everything yourself in order to be successful with the forex market, you just have to know what you are looking for to be able to spot anything that suggests the currency value is about to change.

There are many things that you will have to look out for which could potentially change the value of currency. By watching the news and reading through the financial situation in certain countries you could see a big indicator to an event related to forex. One thing that people take into consideration is their gut feeling, never trust your gut feeling because is has no relevance in the forex market and can get you into a lot of trouble if you just start randomly picking currencies to trade based of a hunch.

You can often make an educated guess by examining the past market because you will begin to see a trend which may happen again so at least you will be able to look out for it again. The major downside to this is the fact it can be very time consuming as well as boring as the market changes throughout the day so looking back over months worth of logs is frustrating. Another method of trying to predict the forex future is to think outside the box and begin to think what would actually affect a countries economy, start to analyse political movements, the weather, government involvement, results of a recent election etc. This method will mean there is a lot more research and work to do but can work out more beneficial in the long run if you are taking this serious.


Author Resource:-
Gerard PERES is the author of this article on forex.
Find more information about forex tradinghere.

Rouble: The Next Reserve Currency

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Apparently, Russia has aspirations to turn its currency, the ruble, in an international reserve currency. In addition, according to an official with the International Monetary Fund (IMF), this plan is not that far-fetched. Despite soaring inflation and political oppression, Russia's economy is expected to increase to 8% for the next two years, mainly due to soaring prices of natural resources. By his own admission, Russia must diversify its economy without impeding growth, strengthen its financial system and monetary policy with price stability in mind. These ambitious measures, combined with continued economic growth, the position ruble to be stable and viable alternative to the dollar, particularly on a regional basis. The Guardian reports:

Russia, with a 1.3 trillion dollar economy at the end of last year, seeks a place among the top five countries by 2020, [President] Medvedev said. But he recognizes the primacy of law must be strengthened and corruption must be eradicated.

Types of Forex Trades

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Dans un article récent de rechercher Alpha, journaliste financier Ray Hendon offert un aperçu sur les quatre principales stratégies employées dans les marchés de change: report commerciaux, techniques commerciales, le commerce fondamentaux, et d'arbitrage. Le carry trade, qui implique un emprunt à faible taux d'intérêt et monnaie achat d'un rendement supérieur monnaie peut être assuré soit par l'achat d'ETF (s) ou en échangeant directement à l'aide d'un compte de détail de change. L'ETF route peut être subdivisée en deux possibilités: acheter une monnaie ETF de prendre avantage de la propagation, ou au lieu d'acheter l'un des deux ETF (symboles: ICI & DBV) qui utilisent des modèles informatiques afin d'imiter le carry trade.

Cambistes sont probablement familiers avec la deuxième et troisième stratégies techniques et commerciales fondamentales commerce. Hendon se réfère à la technique le commerce comme «momentum trade", mais cela est trop simpliste. Les opérateurs employant une stratégie technique peut faire appel à un éventail d'indicateurs techniques visant à montrer dans le cas où un paire de devises est dirigé à court terme. Sur l'autre bout de l'horizon temporel est l'élément fondamental des échanges, ce qui implique généralement un engagement à long terme. Métiers fondamentaux utiliser des écarts entre les pays / devises qui peuvent impliquer la croissance économique, l'inflation, les taux d'intérêt, même la politique, pour tenter de déterminer si une monnaie est sous-ou surévalué.

Enfin, il est l'arbitrage du commerce, dans lesquelles les opérateurs tentent de repérer les différences de minute paires de devises que le commerce sur des marchés différents. Il ya aussi la possibilité d'arbitrage triangulaire dans lesquelles le taux de change entre 3 paires de devises ne sont pas en harmonie. Toutefois, Hendon reconnaît que ces métiers sont devenus le bastion des investisseurs institutionnels qui utilisent des modèles informatiques complexes à identifier instantanément et profiter de possibilités d'arbitrage, ce qui limite le prix de détail moyen opérateur aux trois stratégies énumérées ci-dessus.

The Lowdown On Day Trading On The Forex

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In the first place, that is Forex: The forex market or exchange is the largest financial market in the world, with a volume of over 1.5 trillion dollars a day, dealing in currencies. Unlike other financial markets, the Forex market has no physical location, central not change. It operates through an electronic network of banks, corporations and individuals trading one currency to another. The Forex, or exchange, is a question of money. The money everyone is bought, sold and bartered. On the Forex, anyone can buy and sell currencies and perhaps come to advance to the end. Regarding foreign exchange, it is possible to buy the currency of a country, sell and make a profit. For example, a broker can buy a Japanese yen when the yen against the dollar for increases, then sell the yen and purchase U.S. dollars for a profit. Day trading is a style of trading on the exchange market on which an operator makes all of its businesses within a single day. In other words, May make a few dozen - or more - operations in a day with the objective of buying and selling quickly and make a profit of one of fluctuations in exchange rates during the day. The idea behind the day is that exchange rates are subject to fluctuations during the day - they rise and fall depending on which the purchase, sale and they are rumours. In fact, transactions in foreign currencies is probably the only segment of any type of shares, currencies or futures trading market most affected by rumors and real-time, the real world what happens. A well-informed, spirit merchant may wind profits by paying attention to what makes the current exchange rate. The currency market, also known as the Forex market (foreign exchange market) is the most liquid market in the world. Each day on Forex is estimated at over $ 1.3 trillion U.S. dollars. Forex which is the largest, most efficient market. Much of the reason for the liquidity and the volume of trade is the practice of the trading day. The difference between day trading and other types of trade is how long you hold your shares (or, in this case, your currency). During the day, you have nothing beyond the end of the day on the market. As the currency market is 24 hours market, there is really no market closing changing the rules slightly. From trade happens all the time, from Sunday afternoon to Friday afternoon, so you can choose your time to trade rather than being locked into the Exchange calendar. Making money in the day The difference between a day trader and an investor is the length of time that each holder on their stocks. This difference is only at its surface. The real difference is in the spirit of short-term vs. long-term and liquidity. An investor buys something that does more cease-value, and it holds over the long term. A day trader towers minute fluctuations in the currency market minute by minute. Since you trade in lots of 100000, just a little fluctuation can mean a big profit - or an enormous loss. Limit your loss on the day a difficult concept for new operators to assimilate is to limit the loss. If you make a trade for a currency that goes down because you think it is near its fulcrum - the point where it bounced back and start in place - and find the place where it abolishes point and continues to descend, you find you lose money instead of doing so. You have a choice between two options - hold on it because you are sure it will start to return soon, or get rid of it and limit the amount of money you are going to lose. During the day, the name of the game is to limit your losses and maximize your winnings - to decide in advance how much you'll allow each trade to lose before selling it, and then stick to this limit. In the same vein, decide how much profit you want to make, set a sell order when the currency reached this point - and sell when it hits the mark. Be informed People who earn money from transactions on the Forex are those who take the time to learn the market and understand the ins and outs of trades they do. If you jump in feet first without learning the terms, rules and market trends Forex you're setting yourself to lose and potentially lose big. There is no potential for high returns without risk equivalent. So before you jump, take a course of negotiation, learn and read everything you can. The more you are better informed your success.

The World And The Forex Market

It is possible to day trade currencies along with trading stocks. In case you have ever wondered how the foreign exchange market, or Forex, works, here is an overview of some of the markets basic features: First and foremost there are the foreign exchange rates, which is the proportional value of two currencies. To be more specific, it's the required quantity of one particular currency to sell or buy a unit of another currency. There are two methods used to express a foreign exchange rate. The most common method would express the amount of foreign currency that is needed to buy one U.S. dollar. For instance, if a foreign exchange quote expressed as USD/CND at 1.4300, this means that one U.S. dollar can be exchanged for 1.43 Canadian dollars, and vise versa. The second method is when the foreign exchange rate is expressed under the terms that the USD amount can be exchanged for one unit of a foreign currency. For instance, if a quote of CND/USD at 0.6700 means that one Canadian dollar can be exchanged for the same 0.6700 USD. When the USD is not used to convey an exchange rate, then the "cross rate" term is used to convey the proportional values between the two currencies. For instance, if the quote is DEM/SFR at .7000, this means that on German Mark can be exchanged for only .7 Swiss Francs. Basis points are normally when the foreign exchange rate is expressed by a whole number followed by four decimal points. For example, 0.0001 is called a basis point. Therefore, if an exchange rate rises from 1.4550 to 1.4590, then the currency is said to have changed by 40 basis points. The Forex market is used to invest in other countries or even to buy foreign products. Sometimes individuals or firms who wish to buy foreign currencies or products, may need to get hold of some of the currency, beforehand, from the country in which they wish to do business with. Also, the exporters may require payment for services or goods in their own currency, or in USD, which is accepted throughout the world. In the Forex market, a majority of selling and buying of foreign currencies throughout the world is taken place, mostly by the large commercial banks, who are the major traders in the Forex market. With five major institutions based throughout the world in New York, London, Frankfurt, Zurich and Tokyo, the Forex market is considered the largest financial market in the world by far, with the multitude of trading volumes exceeding 1.5 trillion USD on most days. The foreign exchange spreads are when the exchange rates in the Forex market are cited as a two-tier "bid" or "ask" rate. For instance, when a USD and a DEM is cited as 1.6000/15, the Forex trader who cites this exchange rate is agreeing to buy the DEM's at 1.6000 and sell them at 1.6015. The "spread" is the actual difference between cites of purchase and cites of sale and also illustrates the profit expected from the transaction for the Forex trader. The "spread" may vary comprehensively on any specific currency; all depending on the currency's strength or weakness, and even it's past history or prospective volatility. Forex traders who consist primarily of world wide network interbank traders are connected together by computers and telephone lines and are constantly negotiating prices among one another. These artful negotiations normally ensue in a market bid, or asking price, for a specific currency that is then introduced continuously into computers to be displayed on official quote screens. When the Forex exchange rates are quoted between banks, this is called "Interbank Rates." Many individuals may not be able to get hold of some foreign currencies at Forex rates unless they become licensed traders through Forex. Instead, those individuals may be able to come across foreign currency through a commercial bank, which may charge the individuals with either a commission or a higher spread than those reigning in the Forex market. Sometimes these commercial banks will even charge individuals both commission and higher spread as to enable the bank to make a reasonable profit from the transaction. The world is big and so is the world of the Forex market.

The Exchange Rate And Its Impact On Forex

Understanding how exchange rates work and how they affect Forex markets is essential if you're going to last as a Forex market trader. Exchange rates, Euros, dollars, yens, marks, francs,floating exchange rates, pips, points - the whole concept of the exchange rate can be daunting for a beginner trader What the heck is an exchange rate? The exchange rate refers to the relative worth of one type of currency against another. To make it simple, let's use an example with a simple exchange rate that everyone is familiar with - the exchange rate of dollars to dimes. Suppose you have 10 one-dollar bills. You know that each of those dollar bills is worth 10 dimes. You could, if you wanted, go to the bank and exchange your 10-dollar bills for 100 dimes. The exchange rate would be expressed as DOL/DIM=.10 or DIM/DOL=10. In other words, you can exchange one dollar for 10 dimes or 10 dimes for one dollar. This example can be expanded to include foreign currencies. Instead of dollars and dimes though you're dealing with Euros, yen, pounds and francs. EUR/USD=1.1023 means that each euro is worth $1.1023 (the fourth decimal point is used due to the large volume of trading). In reverse, that would be expressed as USD/EUR=.9071. In other words, if you want to trade US dollars for Euros, it will cost you $1,102.30 to get 1000 Euros. Exchange rates do however move up and down and here's how that works. The dollars and dimes example can be used to illustrate the point. For example your local store has decided that it will now only accept payment in dimes. If you want to buy a loaf of bread your dollar bills are now worthless. In order to buy that loaf, you're going to have to find 17 dimes for your two dollars. What happens when there becomes a shortage of dimes. You find a source of dimes and you negotiate. You tell the person holding the dimes that you'll give them two dollars for 17 dimes. In doing so you've changed the currency exchange rate from DOL/DIM=.10 to DOL/DIM=.11. That means every dollar is now worth 11 dimes instead of ten - and if you want to buy $100 worth of dimes, you'll get 90 dimes, not 100. The same holds true for the international currency market. If you want to buy goods in Japan, you need to trade with Japanese money. If all you have is dollars, then you need to exchange your dollars for yen. If lots of people are trying to buy yen at the same time, then you're going to end up paying (exchanging) more dollars for less yen and the products that you're buying are going to cost you more. When a country's economy is strong, people know that they'll make more money if they invest in businesses and products in that country. In order to buy products or invest money there, they need to exchange their currency for that country's currency. If there's a rumour that a major industry in that country is about to fail, people will want to get out - and will start trading in their yen for dollars or Euros or Aussies - whichever is the best exchange rate you can get. It's all about supply and demand. There are a couple of other factors that influence exchange rates. One of those is the interest rate. When you hold currency, you earn interest in that country's currency at their prevailing rate. If the interest rate is higher for yen than for dollars, then people will trade in their dollars for yen in order to earn a higher rate. A second factor is the inflation rate. When the inflation rate in a country is high, people don't want to hold that country's currency since the value of the money is going down. Likewise, if the inflation rate is low, people are more likely to want the country's currency because the value isn't expected to go down. One other important factor in the exchange rate is trade with other countries. If world prices for a country's exports go up in relation to their imports, they'll be making more on what they sell than they are spending for what they buy. You can see this most clearly in the price of oil. The US buys a large percentage of its oil from Canada. As the price of oil on the world market increases, the exchange rate of Canadian dollars to US dollars goes down - Canadian dollars become more valuable because the Canadian economy is growing stronger. Floating currency exchange rates are intricate. When you research the subject further you'll be able to better understand more in-depth writings on the subject.

Trying Out A Forex Demo Account

First what is Forex: The FOREX or Foreign Exchange market is the largest financial market in the world, with an volume of more than $1.5 trillion daily, dealing in currencies. Unlike other financial markets, the Forex market has no physical location, no central exchange. It operates through an electronic network of banks, corporations and individuals trading one currency for another. The Forex, or foreign currency exchange, is all about money. Money from all over the world is bought, sold and traded. On the Forex, anyone can buy and sell currency and with possibly come out ahead in the end. When dealing with the foreign currency exchange, it is possible to buy the currency of one country, sell it and make a profit. For example, a broker might buy a Japanese yen when the yen to dollar ratio increases, then sell the yens and buy back American dollars for a profit. To determine if Forex trading is truly for you, trying out a Forex demo account is the way to go. It is a method used by thousands of potential Forex traders and investors to determine if forex trading is for them. A demo account allows an interested person to go online and see how an account would work Without investing and risking any real money. An investor pretends to have money in an account and buys and sells the same way it would be done in reality. The software used for these demo accounts is very realistic, and generally a person is able to see at the end of the day if they would have lost or gained money if the transactions had been real. Here's an example. An investor pretends to have a margin account with ten thousand dollars in it. He looks closely at the currency markets and believes that the dollar will go up in value against the yen. The demo account allows him to buy at a ten to one margin, so he buys (in the program) one hundred thousand dollars of dollars and sells one hundred thousand dollars of yen. There will be a spread, or difference, which amounts to the pretend profit. A demo account allows one to son is found to be because it is always much safer to learn how to do this sort of thing without having actual money at risk. The same principle applies when kids in driver's education classes sit in demonstrator modules that resemble real autos. They are able to practice driving without taking risk. They maintain heir safety while they build their skills, knowledge and confidence. Pilots follow this idea also by using flight simulators. You would never think of flying an airplane unless sufficient time had been spent in a flight simulator first. The same holds true for forex trading. Spending time with a demo account allows the potential trader to gain skills and learn the ins and outs of the game and the market place. A person is then able to see if they truly have the instincts necessary for the market and have sufficient knowledge to "play with the big boys." Most brokerage companies involved in Forex trading have demo accounts available, sometimes free and sometimes for a small fee. Even if a fee is paid, it is usually worth it because a Forex trader can parlay his skills and knowledge into vast profits after spending some time practicing with the Forex demo account. A demo account can be set up quickly through a broker. A trader with an interest in setting up a Forex demo account can also go online and find a vast array of companies ready, willing and able to help the student trader set up an account and enhance his/her skills. Learning what you are doing is always smart, no matter what game you are playing, and Forex trading can certainly be seen as an advanced financial game. A demo account is the way to go if there's any hesitation, After months of study of the Forex market one might be convinced that he could make a go of it as a day trader in the Forex market. His wife, however, may not be as convinced or confident and may be a little bit more risk inclined. Going to an online brokerage company is the best next step. Setting up a demo Forex account will allow one to make trades as though he were using real money. After several days, on paper, he might find that he's made a consistent profit. As he learned and as his confidence increased he became even more anxious to open a real Forex account and invest his money. His wife also saw how on paper he had made a nice profit and relaxed. Real Forex trading was the next step. By using a demo account one can learn enough to go foreword and open a true account and become an active trader.

Trading In Black And White Forex Trading Newsletter

Let's start this week by looking at the end of last week. We mentioned that we are extremely cautious of Fridays. We generally don't trade, or trade less, on Fridays. For some reason, we have not had much luck with trading on Fridays. Levels that hold as support or resistance all week long crumble like dust in the wind on Fridays. So, that being said, it happened again. We had used 1.8760 as support a few times last week, but had no faith in it for Friday's trading. Fortunately for us, we stayed true to our guns and stayed out of the market. As you saw, 1.8760 was broken like a wet tissue. We didn't see any good reason for this, but reasons seem to matter less on Friday's than all other days of the week. Maybe it's the mad dash of traders trying to make those extra few bucks before the weekend or close out their positions. Who knows? Ok, last note about Friday. There were several key support levels / indicators that we watch which were broken on Friday. That gives us good reason to look for a short today. So, now on to today's trading. Although some of our traders disagree with us, we are going to look only to play the short side of Cable today. Our aggressive traders argue that 1.8700 is a good support level, and have taken long positions from there with hopes of a climb. Hey, to each their own. We, on the other hand, are looking at resistance levels in the high 1.8700's all the way up to 1.8800. There are more resistance levels at 1.8820, 1.8850, and then as high as 1.8890 - 1.8900. It's actually pretty slim pickings when it comes to finding a good stop price, so be careful. This is another great time to mention that No Trade Is Better Than A Bad Trade. A bad trade is one when you don't have all the important information. Make sure that you have all the levels necessary for a good trade - the entry, the stop, and the profit target. We find these support and resistance levels using a set of technical indicators and other variables that we have found to be most successful for us. We use several other indicators and a variety of technical analysis techniques to enter and exit all of our trades. Every trader will have a different combination of indicators that makes the most sense to them. Learn how to develop your own successful Forex Trading style with our Elite Forex Trading Course or Forex Seminar.

Forex can make you financially free

The Most Lucrative Part-time Job or Home Based Business Ever

The Forex market is relatively new when compared to the traditional
stock market. The Forex or Foreign Exchange Currency Market was open to the public in 1998. In a year it will be a decade old. This is one
of the major reasons most people do not know about the Forex.
The first reason why you should take a closer look at the
opportunities in the forex market is because of its liquidity
estimated at $2 trillion daily. The other reason is that it is
traded 24 hours of the day and 6 days in a week and participation is
open to all, from individuals like you and me to very large financial
institutions.

With the economic situation of our day worldwide, where there are no
more job guarantees it is not unusual to wake up one morning and find
oneself jobless. In such times, there is an increasing need for a lucrative part-time job or home based business. This is something that you can had absolute control over.

There are of course a multitude of money making opportunities out
there, but to be factual, it is very difficult to find a real
opportunity which will allow you to make a living from your home
computer. Even when you do, you would have to spend hours
doing market research and invest large sums of money to bring it to
fruition. That is if you have not gotten involved in a scam project.
Most of the opportunities on the web today, even if you make big
profits, may be held by someone else. In other words, when you
participate in those turnkey businesses, you do not have control.

In addition to all the "fire your boss today" opportunities, there is
a program on CNBC called Mad Money that seems to begetting to the
masses and unknowing students to invest in the stock market. In
reality this is a very expensive experiment especially for student
that do not have a lot of capital. Buying a Goggle stock for $400.00
a piece is very expensive given that your capital can be wiped out if
the stock goes against you by 100 points. That money could be better
invested in the Forex positions (trades).

The forex market which is also called FX is not really as difficult
as it seems. There is not that much technical vocabulary to learn,
and the risk is considerably low, if you compare it to the other
markets. If we assume that you have 40% loosing trades, you still
have 10 trades left to bring you profit.
The fact that part time job and home businesses seekers should really
consider is that you can choose when to trade, how much to trade and
where you want to trade; all you need is an Internet connection, and
you are ready to tap in the biggest market of the world with $ 2
trillion activity everyday in the same way banks and large corporation do.

Contrary to the trading of stocks, you do not have to start with a
$1000.00 capital. You can start with as little as $250.00.
When you trade a mini lot (10,000 units) of e.g. GBPUSD currency pair
your entry ticket costs $28.00. So when the pair goes your way 1
point, you are $1.00 in profit and vice versa.
You can also trade lesser trading units and you can trade for as
little as $1.00. It is therefore possible to turn a $28.00 investment
to a profit of $100.00 in 24 hours if the currency moves in your
direction 103 points. Imagine been able to do this 2 times a week. In
a good week, this pair moves an average of 400 points.

The Forex market is not a get rich quick scheme it is easy to learn
and understand. It is also easy to make money in the forex if you let
someone dedicated to your success teach you.

Mercedes made more money with FOREX trading than with car manufacturing this year. It is a good way to make $100(0) a day.

Trade without money for 3-6 months on paper, than when you learn

start trading real money. Dont be greedy. 10-20 pips a day is enough.

Start with $250 and build it up to thousands slowly. When you

become a successful trader, you can live anywhere on the planet,

and never have to be dependent on a JOB (Just Over Broke).

1.

Download Metatrader 4 from:

http://www.interbankfx.com/



WHEN YOU FOLLOW THE RULES, YOU WILL MAKE MONEY !
YOU CAN QUIT YOUR JOB NEXT YEAR ...
90 % OF NEWCOMERS FAIL BECAUSE OF GREED, SAME AS IN LAS VEGAS ...

Read and study the whole thread.

20 pips = $20 a day
20 pips = $200 a day
20 pips = $2000 a day

George Soros from Hungary come to this country and made billions on Forex. In one single day he made 1 billion ... really the sky is the limit ...


2.


Here is the thread:


http://fxovereasy.50webs.com/Home.html






Let me known your results. This is my gift for you all.

Some traders searched for years unsuccessfully for this gift.

You can learn this on your own in few days.

I am artist and a philosopher with no talent for numbers. But you

dont need any talent for this, just follow the rules.

Dalibor

http://www.myspace.com/dalibor777


++++++++++++++++++++++++++++++++++++++++++


Here is the detailed description of how to install this system
in to your Metatrader:

First down load Metatrader 4 or Strategybuilder FX MT4 (there is a downloads link at the top of the page on this forum. My understanding is that the Metatrader 4 and Strategybuilderfx 4 are the identical. Once it is downloaded then double click to open it and make sure it is operational...then close it down.

Now go to http://fxovereasy.50webs.com/Home.html click on "Indicator downloads" which will open up the list of indicators.
If you left click on the top one (SHI Channels) you will probably get text. So right click on it and you'll get a drop down window...click on "Save target as..." (I found that sometimes when I did the right click first I would not get the window that contained "Save target as" so I found that I had to left click first...then click back and then right click), now you will see a "Save as" window.
In the "Save in" window at the top you want it to read "Local Disk (C). Here is how you can get it to say that without typing it in... click on the arrow at the right side of the upper box. You will now see a drop down window...in it you will see "Local Disk (C)". Click or double click on it and it should then open up it the "Save In" box at the top. Now in the contents below you will see "Program Files". Click or double on it and "Program Files will now be in the "Save in" box (Ifound that if I clicked on the little file folder to the left of the text, it opened easier). Below you'll find "Strategybuilderfx 4 or Metrader 4". Click or double click on it and "Strategybuilderfx4 or Metatrador 4 will now be in the "Save in" box above with it's contents showing below. Find "experts" below, click or double click on it and "experts with appear in the "Save in" box above. Now you will find "indicators", on which you will click or double click and "indicators" will now appear in the "Save in" box above with nothing in the large area below.
Down at the bottom right corner click on "Save"...now you are finished downloading that indicator.
Now go back to the ForexOvereasy indicator download page and download the next indicator. You should find that when you click on "Save target as" it will take you directly to the last step, with "Indicators" already in the "Save in" box, so all you have to do is click on "Save" and its finished and you're ready to download the next indicator. Don't forget to go back to the home page and download the "New Stuff".


Now that your indicators are all downloaded, go ahead and open your "Strategybuilderfx4/ Metratrader 4.
On the left side under "Navigator" click on the + next to "Custom Indicators" which should open up and show you lots of indicators which include the ones you just downloaded. Right click on an indicator and then click on "Attach to chart". Do the same with all the indicators that you want to add...and you should be ready to go.
You can switch the chart over to candlestick by clicking on the candlestick indicator at the top just to the right of center. I suggest you do this first.
I find this tradestation a little difficult to use but that may be because I'm not used to it. It has lots of features.
If you find that you want to delete an indicator, just right click on it and click on the "Delete indicator" line. (Some of the charts may already have some indicators installed that you may not want.)
I have some charts where the candles are very close together and some that are just right...and I haven't figured out the remedy.

Here is the chat thread, but dont complicate a great system, which cant be automated:

http://www.strategybuilderfx.com/showthread.php?t=15112


On this one page you have it all. If you follow the rules, and control your greed, you will become independently wealthy with this system. You are extremely blessed to read this page, as millions of new traders gave up from a lack of a good system. Many professional trader millionaires said, that this is the best system and if you cant work with this system, FOREX is not for you!

See this chart how I made 50 pips (it could be $50 at start, $500 or $5000 every day) :

http://img389.imageshack.us/img389/4428/usdchfii1.jpg


*************************************************


I see most people trying to make a system that should generate 1000 pips or 2000 pips per month, and try to enter every possible move. But the fact is, if you want to make $18 million in 5 years, all you need is discipline and 100 pips per month. Don't believe me? Read on....

Assuming that there are 20 trading days a month, 100 pips would be an average of 5 pips per day. It doesnt matter if you do day trading or positional, if you do 1 trade or 100 trades, all you need is a system that can consistently make 100 pips for you every month.

RULES:
1) You need a system that can make 100 pips consistently every month per lot.

2) Opening balance would be $500

3) Trade is done only in mini lots

4) 0.1 lot is allowed for every $500 balance. So if you have $1000 you can trade 0.2 lots and if you have $5000 you can trade 1.0 lots and so on.

5) Emotions like greed, fear and hope have to be barred out.

6) Once you made 100 pips in a particular month, you do not have to trade till the month is over. So if you make 100 pips in 2 days, you can quit for the entire month.

RESULTS:
After 12 months you will have $3,100
After 24 months you will have $26,000
After 36 months you will have $230,100
After 48 months you will have $2,050,300
After 60 months you will have $18,278,700

Suprised ?
So maybe you'd say no system can make 100 pips consistenly per month. OK, lets say if you were right. Would you agree with me that its comparatively easier to make 10 pips per month? Even if you target 10 pips per month, you would yet end up with $1.8m in 5 years using the same methodology.
Trading is like painting a canvas, you should step back and try to look at the bigger picture than a trade or a single day alone. It is so true.

So get rid of your greed and trade with nothing but common sense. Plz see the attachment for the break up of gains per month.

http://www.traderology.com/forums/index.php?act=Attach&type=post&id=3