Here we are going to look at the 3 key points you must consider if you wish to achieve forex trading success. Fail in any of these areas and you will lose.
1. Get the Right Education
To make money at forex trading you don't need to work particularly hard - but you do need to get the right knowledge and learn it. Most traders don't and fall victim to common forex trading myths. Here is a list of them, believe any of them and you are guaranteed to lose.
- You can make money with forex day trading
- You can predict forex prices in advance
- You should buy low and sell high to make money
- You can trade off news stories - You need a complicated forex trading strategy to win
- You can follow a simulated system from a vendor and make money
- Forex trading is easy
Believe any of the above and you can say goodbye to your equity.
If you want to get the right forex education and knowledge you need to spend some time learning the basics and developing a strategy you understand, because this leads onto the next vital ingredient for currency trading success:
2. Confidence
Most novice forex traders simply think they can make money following someone else or trading news stories. They have no idea how and why the markets move and when they hit a few losses, they have no confidence in what their doing and that's the end of their forex career and their equity.
Now let's look at the vital ingredient all traders need to succeed that flows from confidence:
3. Discipline
If you don't have confidence in what you are doing, then you will never have the discipline to sit through a period of losses and wait for winning trades to return.
One of the biggest myths of forex trading is that you can earn a consistent living and a regular monthly income - its rubbish you can't!
Even the best traders will spend weeks or months in periods of drawdown and you will to. Sure, you can make huge gains over the longer term - but there not spread evenly across the year.
If you don't have discipline to take short term periods of drawdown and still keep trading, you don't have a trading method at all.
If you want to win at forex trading the good news is:
If you work smart, you can learn to trade in just a few weeks.
If you have avoid the myths and get the right knowledge, you will be confident in what you are doing. From this understanding and confidence you will achieve discipline. You need the discipline to stay with your method through short term losses and stay with your system to achieve longer term success.
95% of traders lose and this group simply do not understand that to make big profits, you need to have a simple robust trading system; you have confidence in and the discipline to follow it.
If you understand the above you will be able to put the 3 building blocks together and achieve forex trading success - it really is that simple.
About the Author
NEW! FREE PDF REPORTS
CATCH THE BIG TRENDS NOW!
Get free essential trading Pdf's on catching the big profits from the big moves and more on Forex Trading Success visit our website at: http://www.forextrendfollowing.com
Tuesday, February 26, 2008
Wednesday, February 20, 2008
Forex Brokers - A Service ALL Novice Traders Should Consider by kelly Price
If you are new to forex trading you need to start trading with a broker at some point and many forex brokers offer you a demo account to see if you have the skills necessary to enjoy currency trading success - there of no real but the service enclosed is and is much better than a demo account...
A demo account can show you the basics of placing orders and that's about its only use.
Why?
Because when you trade with a demo account emotion is absent - most traders can make money when there is no pressure - the problem is:
Forex trading is a game of pressure and when money is on the line it feels a whole lot different, to trading a dummy account with no money!
So what do you do to decide if you can succeed at forex trading and you don't want to risk too much?
The answer is a protected account which is a new service offered by forex brokers.
You trade a small amount of real money - but you have a pre defined risk and unlimited upside potential.
Here's how a protected account works:
- You place a small sum of money in a trading account.
- You then can trade as many times as you wish (even if you are in debit) with a fixed leverage.
- At the end of the period (normally a couple of weeks) if you are in debit the broker takes the loss and if you make any profits there all yours!
The advantages of this type of protected account are obvious; you have set risk and have the incentive that you have limited risk but a lot of profit potential if you get it right. You also get plenty of practice and being able to trade when you're in debit.
These accounts act as a bridge between a demo and a full trading account and give you the feeling of trading real money which matters in terms of profits and losses.
We can all make money with no pressure using a demo account and it's a fact that 95% of traders who make money in them lose in real time trading, because they simply cannot cope with the pressure that comes into play when trading real time.
So learn the basics of order placement with a demo account and use a protected account with a forex broker, to see if you have what it takes to enjoy currency trading success.
About the Author
MORE ON PROTECTED ACCOUNTS AND BEST BROKER SERVICES + FREE ESSENTIAL TRADING GUIDES
For more on Protected Limited Risk Forex Accounts and some essential trading guides visit our website at: http://www.learncurrencytradingonline.com
A demo account can show you the basics of placing orders and that's about its only use.
Why?
Because when you trade with a demo account emotion is absent - most traders can make money when there is no pressure - the problem is:
Forex trading is a game of pressure and when money is on the line it feels a whole lot different, to trading a dummy account with no money!
So what do you do to decide if you can succeed at forex trading and you don't want to risk too much?
The answer is a protected account which is a new service offered by forex brokers.
You trade a small amount of real money - but you have a pre defined risk and unlimited upside potential.
Here's how a protected account works:
- You place a small sum of money in a trading account.
- You then can trade as many times as you wish (even if you are in debit) with a fixed leverage.
- At the end of the period (normally a couple of weeks) if you are in debit the broker takes the loss and if you make any profits there all yours!
The advantages of this type of protected account are obvious; you have set risk and have the incentive that you have limited risk but a lot of profit potential if you get it right. You also get plenty of practice and being able to trade when you're in debit.
These accounts act as a bridge between a demo and a full trading account and give you the feeling of trading real money which matters in terms of profits and losses.
We can all make money with no pressure using a demo account and it's a fact that 95% of traders who make money in them lose in real time trading, because they simply cannot cope with the pressure that comes into play when trading real time.
So learn the basics of order placement with a demo account and use a protected account with a forex broker, to see if you have what it takes to enjoy currency trading success.
About the Author
MORE ON PROTECTED ACCOUNTS AND BEST BROKER SERVICES + FREE ESSENTIAL TRADING GUIDES
For more on Protected Limited Risk Forex Accounts and some essential trading guides visit our website at: http://www.learncurrencytradingonline.com
Forex Profits by buying and selling at the same time? by Mary MacArthur
This article is one of a series which looks at the advantages and weaknesses of trading using the hedged, grid trading system to trade volatile markets.
We will look at how money can be made by breaking a number of trading truths or principles; * cut your losses and let your profit run and * there is nothing to gained by entering into buy and sell deals at the same time.
The hedged grid trading system uses the principle that one should be able to cash in at a gain no matter which way the market moves. No stops are therefore required at all. The only way this is logically possible is that one would have a buy and sell active at the same time. Most traders will say that that is trading suicide but let's take some to look at this more closely.
Let's say that a trader enters the market with a buy and sell active when a currency is at a level of say 100. The price then moves to 200. The buy will then be positive by 100 and the sell will be negative by 100. At this point we start breaking trading rules. We cash in our positive buy and the gain of 100 goes to our account. The sell is now carrying a loss of -100.
The grid system requires one to make sure that cash in on any movement in the market. To do this one would again enter into a buy and a sell transaction. Now, for convenience, let's assume that the price moves back to level 100.
The second sell has now gone positive by 100 and the second buy is carrying a loss of -100. According to the rules one would cash the sell in and another 100 will be added to your account. That brings the total cashed in at this point to 200.
Now the first sell that remained active has moved from level 200 where it was -100 to level 100 where it is now breaking even.
The 4 transactions added together now magically show a gain:- 1st buy cashed in +100, 2nd sell cashed in +100, 1st sell now breaking even and the 2nd buy is -100. This gives an overall a gain of 100 in total. We can liquidate all the transactions and have some champagne.
There are many, many other market movements that turn this strange "buy and sell at the same time" activity into gains. These will be covered in future articles and are covered in a free grid trading course which is available at the expert-4x.com website for those traders whose curiosity has been aroused.
There will be more on the hedged grid trading articles to be issued regularly. Please watch this site.
About the Author
Mary McArthur ( marymacarthur@expert4x.com ) is an Expert4x trader who provides technical input into the services provided by http://www.forextradersupportservices.com. As an expert, she authored a free hedged grid trading course on www.expert4x.com.
We will look at how money can be made by breaking a number of trading truths or principles; * cut your losses and let your profit run and * there is nothing to gained by entering into buy and sell deals at the same time.
The hedged grid trading system uses the principle that one should be able to cash in at a gain no matter which way the market moves. No stops are therefore required at all. The only way this is logically possible is that one would have a buy and sell active at the same time. Most traders will say that that is trading suicide but let's take some to look at this more closely.
Let's say that a trader enters the market with a buy and sell active when a currency is at a level of say 100. The price then moves to 200. The buy will then be positive by 100 and the sell will be negative by 100. At this point we start breaking trading rules. We cash in our positive buy and the gain of 100 goes to our account. The sell is now carrying a loss of -100.
The grid system requires one to make sure that cash in on any movement in the market. To do this one would again enter into a buy and a sell transaction. Now, for convenience, let's assume that the price moves back to level 100.
The second sell has now gone positive by 100 and the second buy is carrying a loss of -100. According to the rules one would cash the sell in and another 100 will be added to your account. That brings the total cashed in at this point to 200.
Now the first sell that remained active has moved from level 200 where it was -100 to level 100 where it is now breaking even.
The 4 transactions added together now magically show a gain:- 1st buy cashed in +100, 2nd sell cashed in +100, 1st sell now breaking even and the 2nd buy is -100. This gives an overall a gain of 100 in total. We can liquidate all the transactions and have some champagne.
There are many, many other market movements that turn this strange "buy and sell at the same time" activity into gains. These will be covered in future articles and are covered in a free grid trading course which is available at the expert-4x.com website for those traders whose curiosity has been aroused.
There will be more on the hedged grid trading articles to be issued regularly. Please watch this site.
About the Author
Mary McArthur ( marymacarthur@expert4x.com ) is an Expert4x trader who provides technical input into the services provided by http://www.forextradersupportservices.com. As an expert, she authored a free hedged grid trading course on www.expert4x.com.
Saturday, February 9, 2008
Make Money On Forex with Support and Resistance Lines
I often write about the Forex market and how to get an edge in regards to trading on a regular basis. One of my favorite topics is based on how to use indicators successfully so that you can get that edge in the Forex market. I must admit however that my favorite indicator is the old reliable support and resistance lines. This indicator goes back as far as I can remember in one fashion or another and I think that it still has staying power speaks to the effectiveness of this trading tool.
There are plenty of Forex traders that depend on so-called market predicting tools like neural nets or algorithms. As far as I am concerned they can have these tools and leave me with good old fashioned support and resistance lines.
The best way to describe a support and resistance line is a certain level of price exchange rate level in which the market has hit this level and later pulled back in the other direction. Here is a good way to remember which is which: Support lines are on the bottom while resistance lines are on the top.
So why is this method so effective? This is a good question but it would help if we went back to why the Forex moves at all. The answer to this is obvious: Traders move the markets. The random population of traders consist of individuals, corporations, Central Banks, and hedge funds. On a technical level, there are exchange rate values (emotionally charged) that can make very nice support and resistance lines.
As a result of the fact that we run on a base-10 number system, these emotionally-packed values are the round numbers. The bottom line is that support and resistance lines are simply exchange rate values that are considered by many traders to be critical points that are traded on. The way to make money on this is to know what side to be on as demonstrated by the support and resistance.
The place for consistent winning trades: http://www.fx-indicators.com
Cal Relerd has been involved in the Forex market and investment world for many years. He is a firm believer in the Forex market being one of the greatest and most accessible means to building substantial capital in a relatively short period of time.
Article Source: http://EzineArticles.com/?expert=Cal_Relerd
There are plenty of Forex traders that depend on so-called market predicting tools like neural nets or algorithms. As far as I am concerned they can have these tools and leave me with good old fashioned support and resistance lines.
The best way to describe a support and resistance line is a certain level of price exchange rate level in which the market has hit this level and later pulled back in the other direction. Here is a good way to remember which is which: Support lines are on the bottom while resistance lines are on the top.
So why is this method so effective? This is a good question but it would help if we went back to why the Forex moves at all. The answer to this is obvious: Traders move the markets. The random population of traders consist of individuals, corporations, Central Banks, and hedge funds. On a technical level, there are exchange rate values (emotionally charged) that can make very nice support and resistance lines.
As a result of the fact that we run on a base-10 number system, these emotionally-packed values are the round numbers. The bottom line is that support and resistance lines are simply exchange rate values that are considered by many traders to be critical points that are traded on. The way to make money on this is to know what side to be on as demonstrated by the support and resistance.
The place for consistent winning trades: http://www.fx-indicators.com
Cal Relerd has been involved in the Forex market and investment world for many years. He is a firm believer in the Forex market being one of the greatest and most accessible means to building substantial capital in a relatively short period of time.
Article Source: http://EzineArticles.com/?expert=Cal_Relerd
Forex Managed Account, managed forex account by Managed Forex Account - Be Your Own Hedge Fund and Avoid the Recession
Managed Forex accounts are best suited for those who wish to tap into the Forex world's fast moving turnover but don't have all it takes to do so. A managed Forex account is a type of trading account that is handled by a company trading representative. This presents an arrangement for a novice investor who is inexperienced and has no time to study the Forex market dynamics. A lot of people are interested in the Forex market due to its' high liquidity, 24 hour trading, low start up costs, and other attractive reasons. However not all traders are able to sufficiently learn or trade currency due to conflicting time schedules or perhaps due to other job delegation. A managed Forex account is a live Forex account absolutely funded by an investor, and traded by a company or professional. This allows the individual a reasonable profit margin as s/he does not have to trade on their own.
In a managed Forex account the company or individual one hires would take up the sole responsibility of watching the marketing activities and making recommendations as to which denominations one is to buy or sell. Hundreds of companies and investment firms make up the Forex market arena where an investor's money is put to qualitative use via an established managed Forex account. Some of these organizations have profound specialty in managing Forex accounts, providing an all near one hundred percent value for their service in the currency exchange. This landmark results gives the potential investor much confidence in their service offering. Managed Forex account when being handled by a professional currency representative, gives a better chance of realizing a steady monthly or yearly percentage of return.
Organizations and professionals charge management fees on the managed Forex account irrespective of whether the account is in profit or not. Opting for a managed Forex account for a beginner trader who cannot put his trust on his experience and judgment of the market is a very convenient and wise decision with a proviso of dealing only with a reputable company. By so doing, s/he can rely on the expertise and years of experience of that organization in making sound business decisions. Such companies handling managed Forex accounts usually have important insider information because of close interaction with many financial institutions. In other words, they provide access to currency exchange rates and market changes that one can use to turn in a nice profit.
There are obviously many advantages of a managed Forex account. Some allows the individual to achieve a steady rate of growth without having to go through the rigorous hassles of expending energy and time to trade the money personally. Part of the monthly or annual accruable revenue goes to the investing firm or company that provides the managed Forex account. The flexibility of withdrawing funds from the managed Forex account is another upside of this scheme. This is due to the very liquid nature of the Forex market which allows for potential in both rising and falling markets, giving the experienced money manager more opportunities to grow the investor's account.
About the Author
Investing in the Forex market is a great opportunity to diversify and benefit from the liquidity that global foreign exchange provides.
Brian Tewes is the director of marketing at managedforex.org and invites you to learn about our Managed Forex Account
In a managed Forex account the company or individual one hires would take up the sole responsibility of watching the marketing activities and making recommendations as to which denominations one is to buy or sell. Hundreds of companies and investment firms make up the Forex market arena where an investor's money is put to qualitative use via an established managed Forex account. Some of these organizations have profound specialty in managing Forex accounts, providing an all near one hundred percent value for their service in the currency exchange. This landmark results gives the potential investor much confidence in their service offering. Managed Forex account when being handled by a professional currency representative, gives a better chance of realizing a steady monthly or yearly percentage of return.
Organizations and professionals charge management fees on the managed Forex account irrespective of whether the account is in profit or not. Opting for a managed Forex account for a beginner trader who cannot put his trust on his experience and judgment of the market is a very convenient and wise decision with a proviso of dealing only with a reputable company. By so doing, s/he can rely on the expertise and years of experience of that organization in making sound business decisions. Such companies handling managed Forex accounts usually have important insider information because of close interaction with many financial institutions. In other words, they provide access to currency exchange rates and market changes that one can use to turn in a nice profit.
There are obviously many advantages of a managed Forex account. Some allows the individual to achieve a steady rate of growth without having to go through the rigorous hassles of expending energy and time to trade the money personally. Part of the monthly or annual accruable revenue goes to the investing firm or company that provides the managed Forex account. The flexibility of withdrawing funds from the managed Forex account is another upside of this scheme. This is due to the very liquid nature of the Forex market which allows for potential in both rising and falling markets, giving the experienced money manager more opportunities to grow the investor's account.
About the Author
Investing in the Forex market is a great opportunity to diversify and benefit from the liquidity that global foreign exchange provides.
Brian Tewes is the director of marketing at managedforex.org and invites you to learn about our Managed Forex Account
Tuesday, February 5, 2008
Deadly Errors People Make in Online Forex Trading by Cas Jones
Forex starters usually begin to use technical/fundamental analysis and forex charts in their online forex trading - and they truly can make a lot of money with these forex instruments. But there are some obstacles that forex starters usually don't see, so they fall into these bear traps. This article will discuss some of the most fatal mistakes forex trading starters usually make. I'll give you the key to escape and avoid these forex traps, so you can be profitable in your initial online forex trading.
1. Forex beginners consistently make efforts to find the ultimate online forex trading system that will fill their pockets with money at no effort at their side. For that purpose they find forex trading strategies with over 85% accuracy (at least the authors claim that), buy them and try to be profitable. There are a lot of things I can say about this, but in a nutshell - even the big banks with their advanced trading platforms, low pip spreads, huge capital sizes and experienced expert traders don't have such high percentage of success in a long-term frame. So just don't try to be right on the market in more that 85% cases, that won't work, believe me.
2. Forex trading system starters usually are likely to buy that "secret" online forex trading systems that flood the Internet today. Again, I can tell you a lot about these "secrets", but let me cut the things short for you: if these guys really knew the secret that was able to make millions of dollars for them in forex currency exchange online trading, they would not sell it to thousands of people for pathetic $59.95, $19.95 or even $99.95. Believe me - it's true. Just put yourself to their position: would you uncover that Golden Money-Making Secret to public just to generate insane amount of competition for yourself in forex online trading?
3. Forex starters very often use inaccurate data in their online forex trading accounts. They trade intraday and never make money, nor they will make it in future - why? Because the intra-day data is 95% inaccurate and 98% of all short-time-frame volatility is random. So you can't trade it profitably at the long-term basis. You need to use at least 1h, 4h or 6h time frames for your initial online forex trading. And please, don't be fooled by all that advertising that tries to push in your head the fluff about "consistent and profitable day-trading for the beginners". They just make money on your naivety and greed. Don't let the ads cloud your mind and mislead you.
So if you want to be profitable short-term as a forex starter on your online forex trading account and long-term as a professional forex trader (using the best forex broker of course), try to avoid the deadly forex trading errors mentioned above. Don't make happy the scammers who's trying to sell you that "get Rich Quick and Easy on FOREX" stuff. Instead - become an expert in forex trading online and Make Happy Yourself!
About the Author
P.S. Don't forget to try out this Online Forex Trading Broker Platform. No Download. Open Online Forex Trading Account in 5 Minutes. Trade USD vs. All Major Currencies. Start for As Little As $100. Leverage Up to 200:1. Use Your Credit Card to deposit funds. See you later!
1. Forex beginners consistently make efforts to find the ultimate online forex trading system that will fill their pockets with money at no effort at their side. For that purpose they find forex trading strategies with over 85% accuracy (at least the authors claim that), buy them and try to be profitable. There are a lot of things I can say about this, but in a nutshell - even the big banks with their advanced trading platforms, low pip spreads, huge capital sizes and experienced expert traders don't have such high percentage of success in a long-term frame. So just don't try to be right on the market in more that 85% cases, that won't work, believe me.
2. Forex trading system starters usually are likely to buy that "secret" online forex trading systems that flood the Internet today. Again, I can tell you a lot about these "secrets", but let me cut the things short for you: if these guys really knew the secret that was able to make millions of dollars for them in forex currency exchange online trading, they would not sell it to thousands of people for pathetic $59.95, $19.95 or even $99.95. Believe me - it's true. Just put yourself to their position: would you uncover that Golden Money-Making Secret to public just to generate insane amount of competition for yourself in forex online trading?
3. Forex starters very often use inaccurate data in their online forex trading accounts. They trade intraday and never make money, nor they will make it in future - why? Because the intra-day data is 95% inaccurate and 98% of all short-time-frame volatility is random. So you can't trade it profitably at the long-term basis. You need to use at least 1h, 4h or 6h time frames for your initial online forex trading. And please, don't be fooled by all that advertising that tries to push in your head the fluff about "consistent and profitable day-trading for the beginners". They just make money on your naivety and greed. Don't let the ads cloud your mind and mislead you.
So if you want to be profitable short-term as a forex starter on your online forex trading account and long-term as a professional forex trader (using the best forex broker of course), try to avoid the deadly forex trading errors mentioned above. Don't make happy the scammers who's trying to sell you that "get Rich Quick and Easy on FOREX" stuff. Instead - become an expert in forex trading online and Make Happy Yourself!
About the Author
P.S. Don't forget to try out this Online Forex Trading Broker Platform. No Download. Open Online Forex Trading Account in 5 Minutes. Trade USD vs. All Major Currencies. Start for As Little As $100. Leverage Up to 200:1. Use Your Credit Card to deposit funds. See you later!
Forex-Affiliate.com - Earn thousands of $$$ per Referral !!! by erik
Forex-Affiliate.com - Earn thousands of $$$ per Referral !!!
Thousands of affiliates cannot be wrong! The Forex (currency trading) industry is the world's biggest market on earth, with a daily turnover of 2.5 trillion dollars! Forex-Affiliate.com joins forces with Easy-Forex Trading Platform, a world leader in online currency trading. We have affiliates that are making over $100,000 USD per month why not join it's free and easy we will guide you every step of the way.
Earn Up To $10,000 USD Per Referral!!!
Professional advertising materials (Banners, Text Links, Mini Sites & more)
Accurate and reliable statistics, tracking, reporting and display.
Fast and reliable cash and commission payments.
24x7 Personal account management, for all affiliates and business partners.
Payment options available include wire transfer, credit cards, cheques and Paypal.
Highest conversion rates than any other Forex program GUARANTEED!
Registration is free. Click Here to sign up now.
About the Author
from Yogyakarta
Forex? What is it, anyway? by erik
Forex?
What is it, anyway?
The marketThe currency trading (FOREX) market is the biggest and the fastest growing market on earth. Its daily turnover is more than 2.5 trillion dollars, which is 100 times greater than the NASDAQ daily turnover. (click here to read full market background by Easy-Forex?).
Markets are places to trade goods. The same goes with FOREX. The Forex goods (or merchandise) are the currencies of various countries. You buy Euro, paying with US dollars, or you sell Japanese Yens for Canadian dollars. That's all.
How does one profit in Forex?
Very simple and obvious: buy cheap and sell for more! The profit is generated from the fluctuations (changes) in the currency exchange market.
The nice thing about the FOREX market, is that regular daily fluctuations, say - around 1%, are multiplied by 100! (in general, Easy-Forex? offers trading ratios from 1:50 to 1:200). If, for example, the exchange rate of "your" pair of currencies increased by 0.6% in the last 4 hours, your profit will be 60% on your investment! Such can happen in one business day, or in a few hours, even minutes.
Moreover, you cannot lose more than your "margin"! You may profit unlimited amounts, but you never lose more than what you initially risked and invested.
You can implement your choice (the pair of currencies, the volume amount) under any direction to which the market is moving, and yet make profit. It does not matter whether the exchange rate is going up or down: you can always decide to buy Euro and sell dollar, or vice versa - buy dollar and sell Euro. You don't have to physically possess certain currencies in order to perform "buy" or "sell" with them.
How do I start?
Register (Easy-Forex? offers the simplest and quickest registration process, no obligation); deposit your first trading "margin" amount (credit cards are welcome, only by Easy-Forex?); start trading.
It can't be simpler or easier than that. Need help? We'll provide you with 1-on-1 training and service, as much as necessary (Easy-Forex? offers real people service, live, in your own language).
How do I trade Forex?
You select the pair of currencies with which you wish to make a Forex deal. You determine the volume (the amount of the deal). You deposit the "margin" (collateral needed to facilitate the deal. Usually - only a very small portion of the whole deal, say: 1% or 1:100).
Before you finally activate the deal, you can still "freeze" it for a few seconds. That enables you to either change the terms, or accept it as is, or altogether regret the whole idea. The "freeze" feature is a unique service by Easy-Forex?.
When your Forex deal is running (you hold an "open position"), you can monitor its status and check scenarios online, whenever you wish. You may change some terms in the deal, or close it (and cash the profit, if any, or minimize the loss, if any). Moreover, Easy-Forex? lets you determine a "take-profit" rate, with which the deal will close automatically for you, when and if such rate occurs in the market. Meaning: you do not have to stay near your computer when you hold open positions.
Want to know more? Want to get on-line training? Register here (simple, quick, no obligation), we'll be glad to guide you, every step of the way.
Good luck!
Forex trading involves substantial risk of loss, and may not be suitable for everyone.
About the Author
Yogyakarta
What is it, anyway?
The marketThe currency trading (FOREX) market is the biggest and the fastest growing market on earth. Its daily turnover is more than 2.5 trillion dollars, which is 100 times greater than the NASDAQ daily turnover. (click here to read full market background by Easy-Forex?).
Markets are places to trade goods. The same goes with FOREX. The Forex goods (or merchandise) are the currencies of various countries. You buy Euro, paying with US dollars, or you sell Japanese Yens for Canadian dollars. That's all.
How does one profit in Forex?
Very simple and obvious: buy cheap and sell for more! The profit is generated from the fluctuations (changes) in the currency exchange market.
The nice thing about the FOREX market, is that regular daily fluctuations, say - around 1%, are multiplied by 100! (in general, Easy-Forex? offers trading ratios from 1:50 to 1:200). If, for example, the exchange rate of "your" pair of currencies increased by 0.6% in the last 4 hours, your profit will be 60% on your investment! Such can happen in one business day, or in a few hours, even minutes.
Moreover, you cannot lose more than your "margin"! You may profit unlimited amounts, but you never lose more than what you initially risked and invested.
You can implement your choice (the pair of currencies, the volume amount) under any direction to which the market is moving, and yet make profit. It does not matter whether the exchange rate is going up or down: you can always decide to buy Euro and sell dollar, or vice versa - buy dollar and sell Euro. You don't have to physically possess certain currencies in order to perform "buy" or "sell" with them.
How do I start?
Register (Easy-Forex? offers the simplest and quickest registration process, no obligation); deposit your first trading "margin" amount (credit cards are welcome, only by Easy-Forex?); start trading.
It can't be simpler or easier than that. Need help? We'll provide you with 1-on-1 training and service, as much as necessary (Easy-Forex? offers real people service, live, in your own language).
How do I trade Forex?
You select the pair of currencies with which you wish to make a Forex deal. You determine the volume (the amount of the deal). You deposit the "margin" (collateral needed to facilitate the deal. Usually - only a very small portion of the whole deal, say: 1% or 1:100).
Before you finally activate the deal, you can still "freeze" it for a few seconds. That enables you to either change the terms, or accept it as is, or altogether regret the whole idea. The "freeze" feature is a unique service by Easy-Forex?.
When your Forex deal is running (you hold an "open position"), you can monitor its status and check scenarios online, whenever you wish. You may change some terms in the deal, or close it (and cash the profit, if any, or minimize the loss, if any). Moreover, Easy-Forex? lets you determine a "take-profit" rate, with which the deal will close automatically for you, when and if such rate occurs in the market. Meaning: you do not have to stay near your computer when you hold open positions.
Want to know more? Want to get on-line training? Register here (simple, quick, no obligation), we'll be glad to guide you, every step of the way.
Good luck!
Forex trading involves substantial risk of loss, and may not be suitable for everyone.
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Yogyakarta
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