Make money with forex trading but avoid scams By: Luigi_H
Forex trading, which is the popular short form for Foreign exchange trading is one of the fastest trading platforms that involve high stakes investment. Foreign exchange investment is normally termed as forex trading because the time period for which people hold their assets is too less that it is best explained as a trade rather than investment. Forex is a highly volatile market and this increases the risk too. But the main factor that distinguishes forex from other forms of trading markets like stock markets or gold market is the amount of leverage involved. One has to be very careful while trading at a higher leverage ratio. In forex market traders deal in thousands of dollars worth currency through an actual investment of a far smaller denomination. This ratio between the amount deposited and the amount actually leveraged by the original investment is known as the leverage ratio and this determines the actual risk involved in the trade. This high risk factor is naturally associated with high profitability.
At higher leverage ratio the traders experience more risk but consequently enjoy the opportunity of wining higher profits if the price of a currency moves in the favorable direction. This typical nature of forex market has given rise to numerous forex trading scams that has been deeply influencing the trading society since the past few years. Forex trading became popular among common men since the introduction on online trading platforms. Until then forex market was considered as a monopoly of international banks and government institutions. With the popularity of online trading business scamming became more widespread. Forex trading is in fairly good demand and the nature of its trade has spread its popularity as an instant moneymaking venture. Even novice traders having hardly any previous trading experience in any other form of financial market have stepped up to invest in forex market. One of the major reasons for this phenomenon is the undue hype generated by various online trading sites that are trying to make some quick money out of this inexperienced trader's ignorance. If you search for forex trading options in the internet, you will find hundreds of online financial management site or online trading sites that guarantee incredible profits within an incredibly short span of time. This can only happen in forex market; however, investors are not realizing that such unbelievably high profits are not a common occurrence in any form of market. And forex is a market that has least regulations. Its size and liquidity makes it difficult for any government or financial group to regulate and monitor its activity. Thus further allows for the scammers to play with the money of ignorant traders.
There are also many trading softwares that are available nowadays which promise profitable forex day trading. Most of these softwares are sold online and many buyers are being cheated by such equipments that hardly bring any form of revenue.
Forex trading is profitable but one has to study the market for a certain period of time and understand that there is no instant method to become rich overnight through this business.
About the author:
For expert Forex trading strategies and facts about Forex trading refer to www.allbestarticles.com
Rabu, 09 Desember 2009
Make money with forex trading but avoid scams
Getting Smart on Day Trading
Getting Smart on Day Trading By: Tibor Varga
Day trading is a very controversial endeavor to take on in the forex market these days. Many people end up losing much of their finances through this high-risks trade. And the most common mistake why these people garner such bad results is because they often do not think of the risks involved and only concentrate on making easy money.
Here are a few things that you need to know about day trading that could help you make the right decisions about your investments.
You May Lose A Lot Of Money
The very first thing that you need to know about day trading is that you must be prepared to suffer from substantial financial losses. And bear in mind that this is not a rare thing to happen among day traders. In fact, a lot of these people do not even get the chance to earn profit at all.
Therefore if you have limited resources and have very little experience in making investments or trades, then day trading is certainly not advisable for you. Make sure that you never gamble with money that you cannot afford to lose, such as your budget for daily expenses, mortgages, retirements and so on.
Watch Out For Claims Of Large Profits
One of the main reasons why a lot of people also get scammed in relation to day trading is because of their gullibility towards catchy promises, mostly from the Internet, that offer them large profits. Be wary of any advertisements or claims that try to convince you on how this certain trade can potentially make your rich in a short amount of time.
Also take in mind that most successful individuals or companies did not make it to the top by taking shortcuts. Most of those who have earned big money through the forex market have actually taken more traditional routes in their tactics.
You Need To Be Knowledgeable
Not only does day trading require you to be a wise decision-maker, but, most importantly, it also requires you to have a good background in currency markets and trading strategies.
To be able to become successful in this endeavor, you have to compete with professional and licensed traders who might have been doing this for a very long time already. Make sure that you invest into your own education before you attempt on playing this risky game.
You Need To Check With Your State Securities Regulator
If you really have decided to take part in day trading, one of the most important precautions that you can take is to at least check with your state securities regulator about day trading firms. After all, just like broker-dealers, such firms must be legally registered with the SEC in order to do business.
At least, through this way, you would be able to determine that the parties you are doing business with are actually legitimate and mostly likely would not scam you.
In conclusion, day trading is a very exploratory strategy. And so, anyone who may not have enough experience and knowledge about the forex game should not try to gamble without properly preparing him or herself.
This strategy should only be employed by individuals who are sophisticated, well financed and experienced enough to manage complicated situations and bear risks in case of the worst-case scenario. And so, if you are thinking about betting on the day trade, make sure that you prepare yourself to be smart in your decisions.
About the author:
Tibor Varga(41) is an ex-CEO, now full-time forex trader, technical analysis expert and forex signal provider, editor of SureForexSignals.com. To be consistently profitable in trading forex markets he uses a proprietary system based on sequential analysis, and neural network technology.
Are Forex Reviews All Fake? How to Safely Learn Currency Trading
Are Forex Reviews All Fake? How to Safely Learn Currency Trading By: Adam Grants
If you've ever tried to find some reliable forex reviews (product reviews - to be more precise) then I'm sure you've noticed the number of review sites out there. They're reviewing all kinds of products: robots, systems, foreign exchange software, guides on how to learn currency trading and many more.
The worst part is that the results are not the same on most of them. Which means that a certain product can be ranked as #1 on one site and #172 on the other. And you know what? Some of these forex reviews are not even real... that's because the owner of the site is just an affiliate and he picked the product with the biggest commission as the first one in his ranking... in other words - it's a forex scam.
So you really should be aware of this fact when you go out on the internet trying to learn currency trading or find the perfect forex program for yourself. Just because someone rated some product as the best one, doesn't mean that it will be the perfect choice for you. And I don't mean that the product is of poor quality. I'm just saying that you don't really know what the motive was behind rating a certain product as the number one.
You should be careful when reading the forums as well. You see, often when you go to a forum you will find some bad reviews among other posts, and sometimes you'll get convinced by them. What's worth knowing is that usually the negative voices are louder than the positive ones. People just tend to write and talk about their negative experience more often than about the positive one.
(For example just watch the news. How much negative news there are comparing to the positive ones? It's just the human nature - negative information is just more interesting.)
Don't get me wrong, I'm not saying that negative forex reviews are fake or not important; this is not at all what I mean. Because by all means you should pay attention to them. (Although the truth is that there can be some fake hate-posts written by competitors of certain tools. People do that because discrediting your competition is the easiest way to get more sales.) But because of the fact that people get louder with negative opinions, you shouldn't tie too much weight to them. Of course if there are 1000 negative reviews then you should think twice before buying the product and maybe look for something else. But the truth is that every product has some bad reviews. I mean, if Bill Gates would write a step-by-step guide on how to create the biggest software company in the world, then there still would be some bad reviews of it.
So what's the takeaway from this article? Just be careful when choosing the right product for yourself, because sometimes it's not as easy as it seems.
In a nutshell - don't believe every positive review found on the review sites, and don't believe every negative review found on the forums. This should help you avoid a forex scam.
So if you want to find some reliable information, then you could go to a number of review and comparison sites (sites that are comparing things like: training courses, robots, programs, foreign exchange software, etc.), get the rankings from them, and make your own list of the best forex products. Of course you can't be sure which reviews are real, and which ones are not, but still, it would create a good overall market picture.
I know that it sounds like a lot of work, and it is. Because actually there's no point in spending hours on all the review sites when you can use this time to learn currency trading instead. But I have some good news for you. The truth is that you don't have to do all this work on your own.
About the author:
If you don't want to go through all the review sites on your own, then just go to my website (link in the next sentence). What you will find there is a comparison table of the best forex products according to dozens of forex reviews from more than 30 different review sites. I also give you a short video explaining couple things about the forex market.
The Tweezer Forex Signal: How To Trade It
The Tweezer Forex Signal: How To Trade It - by Michael A. Jones
Certain formations on Japanese candlestick charts can provide a reliable Forex signal if you interpret them right and realize the limitations of candlesticks in the foreign exchange market.
Candlestick formations work particularly well in some markets where there are clearly defined opening and closing periods such as the futures and equity markets. The Forex on the other hand is a 24 hour market place that runs for nearly six days a week and therefore it doesn't have the distinct open and close timings that make Japanese candlestick formations such significant indicators.
However, there is a significant candlestick formation that can be used as a Forex signal taking into account the open closing times of various markets (New York, European, Asian sessions) and the overlapping times when market reaction is more pronounced.
This Forex signal is commonly called the Tweezer shape. It consists of two candles side by side with short bodies at the base and long wicks that extend upward. The two candles can be either identical in shape or they may simply have approximately the same size body and wick. Conversely they can be the other way, a short body at the top with long wicks extending downward.
WHY can the tweezer candle formation be a significant Forex signal?
It helps to understand what is represented by a candlestick. There is a need to go behind the scenes and perceive what is actually going on in the market.
Every candle represents a battle between the bears and the bulls, struggling to gain dominance. In the case of a tweezer candle formation at the top of a price move, the bulls took price up to a certain level but were unable to hold it and price came back.
In the second candle period, the bulls again tried to take price up but only succeeded in reaching the high of the previous candle and again their efforts failed with price coming back. A new high was reached, then an attempt made to pass it which failed, the bears wresting control from the bulls.
If a tweezer formation is seen at the end of a large downward move in price, then the opposite is true. The bears have not been able to maintain new lows and the bulls have wrested control.
The tweezer candlestick formation as a reliable Forex signal is conditional however on other factors.
WHEN can the tweezer candle formation be a significant Forex signal?
It is probably unwise to just take a tweezer formation as an instant Forex signal to go long if the tweezers form at the top of a run up in price or short in a drop in price. A reliable Forex signal involves many factors not just one.
Here are some key points to keep in mind:
* Tweezer formations on higher time frames (1 hour, 4 hour) are more significant. At times a tweezer on a 15 minute chart can provide a good Forex signal if it coincides with other factors mentioned below.
* Tweezer formations can be significant when they come at a key level of resistance or support, or if they are on a pivot line, or a Fibonacci retracement or extension level.
* Tweezer formations are not such a reliable Forex signal if they come in a consolidation pattern when price is caught in a channel.
* Tweezer formations can be significant if they come at the end of a major run in price that is equal to or exceeds the average daily range. If you pull up your Average True Range indicator and see what the average price movement has been for that currency pair for the last five days and compare it with the current price movement, if price has already moved by the average number of pips and you now see a tweezer formation, there is a higher probability you can safely enter a trade in the opposite direction.
* Tweezer formations can also be a reliable Forex signal if you take into account the average daily range and the time of day when the tweezer formation appears. If it appears at the close of the London session for example, or the end of the New York session, it is unlikely price is going to go much farther for the remainder of that day. The likelihood is price will retrace and that is where you can catch some good pips.
Trying to find the perfect Forex signal is a futile exercise as no such signal exists. However, there are certain indicators that when put together can constitute a reliable Forex signal that works more times than it fails.
Learn to recognize the tweezer candlestick formation. Take note of where it appears in relation to price action, check the time of day, look at your other favorite indicators, and if they all line up, pull the trigger!
About the Author
For a free candle & chart pattern recognition reference tool click here:
http://www.vitalstop.com/Forex/Candle-Chart-Patterns
A Beginner's Guide to Forex Analysis
A Beginner's Guide to Forex Analysis - by Gregory DeVictor
The Forex trading market is an around-the-clock cash market where the currencies of nations are bought and sold, typically via brokers.
Forex prices can change at any moment in response to real-time events, such as political unrest or the rate of inflation. Currency market players typically use "Forex analysis" as a means of predicting currency price movements.
Forex analysis is divided into two types: fundamental and technical.
A fundamental analysis uses economic and political factors as a means of predicting currency movements. A technical analysis uses reliable historical data as a means of forecasting these movements. The purpose of this article is to discuss the basics of fundamental and technical analysis.
A fundamental analysis uses economic and political factors, such as housing starts, the unemployment rate, or inflation, as a means of predicting currency movements. Fundamental analysis is concerned with the reasons for currency movements. Many Forex traders who rely on fundamental analysis plan their trading strategies around a number of U.S. Government economic indicators. Some of these indicators are the Consumer Confidence Index (CCI), the Consumer Price Index (CPI), the Employment Situation Report, the Gross Domestic Product (GDP), the Composite Index of Leading Indicators, the Advance Report on Durable Goods, Housing Starts, and Initial Jobless Claims.
All of these Federal economic indicators have a marked effect on the Forex trading market. Some of these indicators are released weekly, while others are released monthly or quarterly. Their sources include the Federal Reserve, the U.S. Bureau of Labor Statistics, the U.S. Bureau of Economic Analysis (BEA), and the U.S. Census Bureau.
Forex traders must take other economic indicators into consideration as well. The world's leading economies (for example, the United Kingdom, Japan, France, and Germany) also release their own economic indicators that will have an impact on the Forex market. For example, common economic indicators in the United Kingdom include Housing Prices, Gross Domestic Product (GDP), Vehicles per 1,000 People, Telephones per 1,000 People, and the Percentage of People Employed in Agriculture.
A technical analysis uses historical data as a means of predicting currency movements. The technical analyst believes that history repeats itself over and over again. Technical analysis is not concerned with the reasons for currency movements (for example, interest rates or inflation). Instead, it believes that historical currency movements are a clear indication of future ones. The technical analyst typically uses charts as a tool in predicting currency price movement.
Investopedia states that "In a shopping mall, a fundamental analyst would go to each store, study the product that was being sold, and then decide whether to buy it or not. By contrast, a technical analyst would sit on a bench in the mall and watch people go into the stores. Disregarding the intrinsic value of the products in the store, his or her decision would be based on the patterns or activity of people going into each store." For example, during the back-to-school buying season, the technical analyst might observe that more people are going into clothing stores than into stores selling flowers. Likewise, the technical analyst might observe that more men are going into stores selling flowers on Valentine's Day than into clothing stores.
Here is another example. Oil prices dramatically increase, thus creating inflation. Interest rates rise as a means of controlling inflation. One historical result of higher interest rates is less money to spend, thus slowing economic growth. Another historical result is increased foreign investment in the currency affected by the higher interest rates, thus strengthening it.
Some Forex traders depend on fundamental analysis while others depend on technical analysis. However, many successful Forex traders use a combination of both strategies. The important point to remember here is that no one strategy or combination of strategies is 100% certain.
About the Author
Gregory DeVictor is a consultant who has been developing and marketing web sites since 1999. You can learn more about Forex trading and test your strategies under real market conditions at: http://www.forex-trading-system.name/forexyard_account1.htm
A Forex Signal That Is Absolutely Critical For Success
A Forex Signal That Is Absolutely Critical For Success - by Michael A. Jones
Getting Behind The Scene
We need to understand what is going on behind candle patterns and price movements. Imagine thousands of traders coming to their desks each day all around the world and processing orders involving billions of dollars worth of currency.
The price at which they bought the currency now represents a key level for them. They do not want to see price go in the opposite direction or they will be at a loss. So what happens? They do everything possible to protect that price level.
The daily chart is of particular importance when considering support and resistance as a Forex signal. Traders associated with big institutions often refer to the daily chart rather than lower time frames. So price highs and lows on a daily chart can represent key, strategic price levels.
If price reached a high within the last few days, you can be sure a number of traders have millions or even billions of dollars worth of currency tied up at around that level or below it. For price to go above that high there is going to have to be considerable buying pressure from the bulls. Obviously the converse is true when price reaches a new low.
So look at the higher time frames like the daily, and 4 hour charts and identify these key levels of support and resistance. They form a major Forex signal.
Where Price Spends Most Of It's Time
Here is another factor regarding support and resistance that makes it such a critical Forex signal.
Most of the time price moves in a consolidation channel or range. Depending on the time frame you are looking at, it may be a 40 or 50 pip range on the higher levels, and within these larger levels are small trading ranges of 10 to 20 or 30 pips.
Some estimates put the amount of time the market is in consolidation around 60-80%. This means only 20-40% of the time price is actually trending, making new highs and lows.
This piece of information is critical. Once you have identified a trading range (it helps to put lines on your charts marking the high and low of the trading range) you can now manage trades much more effectively.
If you are considering going long and you see price is in a consolidation channel, you will not want to enter near the top of the channel. Wait for price to come back to the bottom of the channel by putting in an entry order and get taken into the trade. This way your stop is closer and your profit potential is greater.
Once price has moved through a major level of resistance, that level now becomes future support. Once price has moved through a major level of support, that level now becomes future resistance.
Include This In Your Daily Preparation
Every day when you open your charts look for this simple yet powerful Forex signal. Mark out your lines of support and resistance on each time frame you use. For example, if you customarily use daily, 4 hour, 1 hour, and 15 minute charts, mark out the key levels of support and resistance. Remember the more candles there are either side of the high or the low, the more significant that level becomes.
Then compare the various time frames and see if any of the levels you have marked coincide. Then look for suitable trading opportunities accordingly.
An effective Forex signal does not have to be complicated. Understanding how support and resistance works can make a huge difference to your consistency as a trader.
Don't pass over it because it is so simple. Remember, in the minds of the traders who pushed price to key levels, and who are defending positions involving billions of dollars, levels of support and resistance are hardly inconsequential!
Dubai-Not A Permanent Effect If…
Dubai-Not A Permanent Effect If…
By: NewstraderFX
While global stock markets plunged (and the dollar rose) in the wake of Dubai World’s effort to reach a standstill agreement with its creditors, one has to keep the most important fact in mind. Technically, at least at this time, there is no default nor is there likely to be one. And although there could be some restructuring of the $80 billion stockpile of debt accrued, the impact will likely be but a short term, a knee-jerk reaction that will soon be forgotten by investors.
Dubai World, which is controlled by the government of Dubai, did however have something that was very important to investors; an implicit guarantee from other United Arab Emigrate nations (especially from oil-rich Abu Dhabi) that the debt would be repaid.
Background
Abu Dhabi and Dubai are two members of the United Arab Emirates (UAE), a federation of seven small states that was formed in 1971. Abu Dhabi is by far the richest of the seven because it has the bulk of oil reserves and is the federation’s capital. Since the 1980’s, Dubai has been intent on diversifying its economy because it has little or no oil and it’s main thrust has been a huge infrastructure expansion in support of a global financial hub. The states of Dubai and Abu Dhabi are ruled by royalty and there are long-established merchant family relationships between them.
Dubai has experienced cash flow problems since the collapse of Lehman last year and it becamse necessary to do what many governments do when cash appears to be running short-issue more debt. In February, the UAE central bank subscribed $10B out of a proposed $20bn bond program issued by Dubai. On Wednesday, two Abu Dhabi banks subscribed a further $5B to the program, leaving another $5B yet to be issued. Then something strange happened.
On Wednesday, the Dubai department of finance made two statements, saying first it had raised the remaining $5B and then two hours later asking for a standstill until the end of May on payments due from Dubai World.
The Reaction
As is typical with any debt crisis, the credit default swaps protecting the bonds rose dramatically in price. Investors in Asia and Europe (U.S. markets were closed Thursday for the Thanksgiving holiday) fled risky assets (stocks and any currencies other than the dollar and the yen). S&P futures declined as much as 3% in overnight trading but by Friday morning had pared the loss to around 2.5%.
The (Likely) Result
Investors in the region (primarily banks like RBS and Barclay’s) will need to reassess their risk premiums in future transactions, since the formerly implicit sovereign guarantees seem to be less so. But by global standards the amounts are relatively small and in any event, much (if not all) is likely to be repaid. What this sets up then, in my opinion, is a chance to once again “buy low,” or to partake in what Warren Buffett refers to as being greedy when others are fearful.
Now, doing this of course involves a bit of risk in that it’s extremely difficult to time the best entry correctly. Even Buffett himself failed miserably at this when he made his famous Goldman Sachs investment (announced on September 23, 2008) which came months before an actual bottom was seen in the stock although at this point, he’s billions of dollars ahead of the game.
Of course, if the data next week should surprise to the downside, Dubai will be viewed as a tipping point. There are a number of important reports such as Chinese, European and American PMI numbers due for release next Monday and Tuesday and of course, we’re in the holiday shopping season so reports on sales will obviously be very important to investors as well. I’m looking for the data and sales figures to continue the trend of improvement as the global economy continues its modest rebound from the worst financial crisis since the Great Depression and if all works out as planned, the Dubai effect will recede to the backrooms of the banks involved.
Lesson 5: Understanding Your Forex Limitations
Lesson 5: Understanding Your Forex Limitations
By: Terry Allen
So, why do so many novices fail to achieve the level of Forex success that they originally thought possible? To begin to answer this question, let us first study the information released by a large Forex Broker that you may decide to use. Many beginners resort to this option soon after they commence trading upon realising the limits of their own knowledge concerning Forex.
These Forex companies issue very comprehensive advice and notifications when the entry and exit points occur of any of the main Forex Currency Pairs. On the surface, their guidelines should work for you because it is in the best interests of these companies that you succeed. Their information is produced by their teams of Forex experts and is based on concepts such as the following:-
1. Risk and Reward Management.
2. Preferred statistical trading techniques.
3. Historical back testing.
4. Pivot points to identity key Support, Resistance and Intermediate levels.
5. Selection of an achievable target.
6. Advise on actions to be taken at each encountered Intermediate Level
depending on the market’s reaction.
7. Stop strategies to reduce risks and losses.
8. Updated advice as the trade progresses.
Sounds great especially as these companies can demonstrate that they
really do make profits from their own Forex trading recommendations over
any given period of time. Unfortunately, a lot can go wrong if you attempt to follow their advice as the following example illustrates:
Suppose your Forex Broker has recommended trading a currency pair with a
100 pip target after analyzing applicable Resistance and Support Levels.
Although this task seems readily achievable, the first point that you must realise is that you may need to trade for many hours before your target is reached. Now, despite the fact that your Forex Trader may be supplying you updates on a regular basis, a large trade reversal could occur suddenly without warning especially in volatile times.
Should this happen, your Forex Advisor could, themselves, respond to this sudden event in a swift and appropriate way. This is because they could well possess an experienced staff that is supported by large supercomputer facilities and is able to monitor each trade using numerous analytical tools and techniques constantly 24 hours a day.
You, on the other hand, will not possess anywhere near their facilities. In addition and as you will need to sleep, you will not be able to monitor trades 24 hours a day just on your own. As such, you may not realise quickly enough that such reversal events have happened and, even if you did, you may not respond correctly because of your lack of training and experience in this subject.
This article is part of a course that is intended to show you how to overcome such problems.
Lesson 4 - Key Forex Features
Lesson 4 - Key Forex Features
By: Terry Allen
The Foreign Exchange Market (Forex) involves the simultaneous buying of one currency and the selling of another. Today, Forex is one of the largest and most liquid financial markets in the world which includes Forex trading between large banks, central banks, currency speculators, corporations, governments, other institutions and ordinary folk such as you and me. The daily turnover of Forex is reported to be well in excess of $3 trillion. The purpose of Forex is to facilitate trade and investment and it is unique because of its following features:
* Trading volumes
* Extreme liquidity
* Number and variety of traders
* Geographical dispersion
* Long trading hours which are 24 hours a day from Sunday 17.15 EST to Friday 16:10 EST
* The variety of factors that affect the exchange rates
* The low margins of profit compared with other markets of fixed income
* The use of leverage
There are many Retail Forex Brokers who offer individuals the opportunity for speculative trading on the Foreign Exchange Market. These Forex traders offer very sophisticated Forex trading platforms which provide you with rapid access to the Forex market. These Forex platforms contain features such as the following to greatly assist your ability to Forex trade:-
* Low spreads
* Trade currencies from Charts
* Hedging
* One Click Order Execution
* Audible Price Alerts
* Training courses and webinars
* Live Support
* Free Practice Accounts
In addition, there are many Forex tools and techniques and each one is claimed to be essential for ensuring financial success by its designer. You may need to experiment with as many as possible in order to determine your favorites. So you now have access to the amazing Forex market with all these powerful Forex tools. Surely, making a profit must be a walk in the park. Unfortunately not, as this course will demonstrate, unless you learn to view Forex in a totally different way.
Fundamentally, you will need to develop a philosophy that ensures that you will profit by capturing as large a consecutive sequence of successful trades as possible on a regular basis. This will not be easy as you are dealing with a subject that is the equivalent of trying to complete an unfinished 5,000 piece jigsaw puzzle picturing a scene comprising totally of light blue sky. Many popular technical techniques and methods used to study Forex were designed well before its birth and as such cannot cope with its complex actions and volatility. They either need to be significantly modified in order to do so or carefully integrated into a full Forex trading system.
This course will show you how to do this. One lesson will be published per day on DailyForex
Lesson 3 - Identifying Major Forex Difficulties
Lesson 3 - Identifying Major Forex Difficulties
By: Terry Allen
To achieve success at Forex, you fundamentally need to complete a sequence of consecutive successful Forex trades as often as possible. What does that really mean and is it difficult? Let us try and answer these questions by considering the following analysis:
For each trade, consider that you will need to target an achievable profit, 50 pips for instance, that may require you to trade, on average, for about 4 hours. In addition, you will then need to obtain a consecutive sequence of successful trades in order to obtain a good profit e.g. 20.
This study, therefore, implies that you will have to trade Forex for about 80 hours in order to achieve your targeted profit. This is both a long time and a very daunting prospect as Forex is anything but stable and is, in fact, capable of producing brutal, unforgiving and vicious movements at any given time without warning.
New traders think they can trade consistently with 80% plus accuracy. They think they can turn $1,000 into $100,000 in six months. They think they can predict turning points in Forex to within minutes. They think they can buy a system that is 100% accurate. They even think they will quit their jobs and make a living full time after a few months of trading.
What is the reason that so many new Forex traders believe that trading is an easy way to make money? Propaganda! We are continually bombarded in magazines, emails and the general media by claims of making astronomical amounts of money by just applying the vendor's latest Forex method or system.
Forex Trading is not an exact science. You cannot do X and get Y every time. Forex Trading is as much an art as it is anything else. There is no magic formula. Forex Trading is all about probability whereby you must apply a set of carefully thought-out rules in selecting each new trade after you have determined the chances of it resulting in success.
In addition, each new trade must be considered as an independent event because Forex does not remember if you lost or made money during your previous trade.
So and in conclusion, you must develop a mindset that will allow you to produce a Forex trading system that should, at least, be capable of overcoming all these difficulties.
In this course, I will try to show you how to accomplish this task by fusing the many discrete Forex concepts into a fully integrated trading system. One lesson will be published per day on DailyForex.
Lesson 2 - Why is Forex Trading so Hard?
Lesson 2 - Why is Forex Trading so Hard?
By: Terry Allen
As the Forex Market is so big, there must be room within it for you to make a profit especially as there are so many so-called great trading tools and techniques available.Unfortunately, this is not the case and you need to view this business in a different way to understand why.
As stated, the daily turnover of the Forex Market exceeds well over $3 Trillion dollars. This colossal figure is the total sum of all the transactions traded worldwide on any given day that are initiated by a massive number of participants, each having their own agenda. In addition, some of these Forex traders are large corporations and governments who have substantial budgets at their disposal that may well exceed billions of dollars. They can generate, just on their own, very large movements in currency pairs (spikes) by the sheer size of their transactions and can do so without providing any prior warning to the rest of the market.
How does this affect you? Well, consider this sequence of events as an example. Supposed you have initiated a Forex trade, which after a number of hours of hard work, is proceeding in your intended direction as planned. You decide to take a break and maybe even brag to your partner about your latest success. After 10 minutes or so, you return to your PC station only to discover that a massive reversal has occurred completely obliterating your position including any potential profit. This type of event can happen frequently with no prior warning of any type.
Now suppose you decide to enter the fray with the princely sum of $1000 (one thousand dollars), you would quickly realise that the Forex Market is the equivalent of a hurricane tossing you about like a rustic leaf. One famous Forex advert used to say that if you do not trade Forex then you are leaving someone else to pick up $5 bills of the marketplace floor. In reality and if you had been actively trading in those days, the aforementioned $5 dollar bills would more than likely have been yours.
In fact, after trading for a while, you can quite easily become paranoid developing a feeling that Forex is haunting you personally awaiting to crush your next move without mercy. So, is it possible for an individual with limited resources to make profits trading Forex? Yes, it is but to do so you may need to fundamentally change the way you view the Forex if you have not achieved any success to date.
This article is one of a series comprising a course that is designed to show you how to achieve this task and also how to produce your own successful Forex Trading System. One article a day will be posted on the DailyForex.
Lesson 1 - The Dark Side of Forex Trading
Lesson 1 - The Dark Side of Forex Trading
By: Terry Allen
Without question, Forex trading is a very difficult subject to master and you can easily lose your entire budget quite quickly unless you exercise extreme caution. I will attempt to correct this by showing you how to design your own Forex Trading System carefully and under control so that you do not risk money that you can ill-afford to lose.
I must warn you that this will not be a quick fix and will require you to do some work. However, this approach is surely much better than mindlessly gambling in an uncontrolled fashion.
As the Forex requires an extensive study, I will do this by producing a course consisting of a significant number of articles, one of which will be posted daily on DailyForex.
The aim of the course is to both cut through the hype about Forex Trading as well as provide you with a detailed strategy that will help you trade successfully even during the most difficult times such as now. I will take you behind the exaggerated marketing publicity of this subject so that you can gain an improved awareness of what to expect when you start trading.
As you no doubt know, the Foreign Exchange Market involves the simultaneous buying of one currency and the selling of another. Many Retail Forex Brokers exist who offer individuals the opportunity for speculative trading on the Foreign Exchange Market. They and other interested parties promote heavy marketing at all times claiming how easy it is to make a steady income, if not a fortune, by Forex Trading. Amazing Forex products are advertised informing new Forex traders about training courses, trading strategies and tools all designed to guarantee almost certain success.
However, statistics paint a different picture indicating that
95% of all new Forex traders lose their entire invested capital within 3 to 4 months from trading startup. Only 1% of traders
actually made a significant fortune from Forex.
So why is there such a discrepancy between the marketing hype and
the real results? Why is Forex trading so difficult and what are you not being told? These problems are difficult enough to deal with in calm times when the Stock Market is doing well but are irritated further during volatile times such as those that have existed during 2008 and now into 2009.
My intention is to provide you with some clarity and insights into these questions during this course. In other words, I will introduce you to the ‘Dark Side of Forex’.
Strategies with Moving Averages in the Forex Market
Strategies with Moving Averages in the Forex Market
By Dianne L. FecteauA moving average (MA) is an old and reliable tool used by traders to smooth price data. For example, a 20-day simple MA is the sum of prices for 20 days divided by 20. The smoothing makes it easier to see the underlying trend. Many traders use the MA for just this purpose alone.
In the chart below, you see that a 55 day exponential MA (in red) tends to follow the trend line fairly well on the EURUSD daily chart. As prices moved up from the bottom on the left side of the chart, the MA soon turned up as well.
In addition to displaying the underlying trend, there are three other ways you can successfully use a moving average (MA) in your trading.
The first is for determining support and resistance. In the Euro daily chart, you can see that the last three times price has approached the MA, it has served as support. The pair touched the line again on December 4, 2009 and it remains to be seen whether the EMA will again serve as support. You can experiment with different moving average lengths to see which ones are most effective, depending on the pair you trade and the period you use for trading.
A second way of using the MA is to indicate price extremes. If you examine prices compared to the 55 day EMA on the Euro chart, you see that prices moved well above the average on four occasions, once the uptrend was established. When the distance between price and the average increases, it’s a result of price deviating from its mean. When price returns to the average, it reflects the tendency of price to revert to a mean. Both situations present a trade opportunity. When price is at an extreme, there’s an opportunity to place a contra-trend trade. Since this would be trading against the prevailing trend, such a trade carries more risk. The more conservative trader can wait for prices to revert to the mean and then take a position that’s in the direction of the trend.
Finally, the trader can use an MA for specific signals. One such signal is when price crosses an average. Another is when a shorter MA crosses a longer one. In the EURUSD three-hour chart below, you can see four successful crosses of a shorter 20 EMA to a 50 EMA.
Note that in sideways periods of consolidation, this method tends to produce whipsaws.
The speed of the moving averages you choose will determine how many signals you receive from this approach. A 3-day MA will result in more signals from price crossing it than will a 20 day MA. Similarly, the length of time required for a 21-day MA to cross a 55 day MA will be longer than that required for a 3-day to cross a 5-day MA. You need to test various lengths to see which ones work best for you.
As always, safety demands that you use other methods in addition to the moving averages. Such methods might include price patterns, candle behavior, and indicator readings. However, this very basic tool can be a useful addition to trading decisions.
© Dianne Fecteau, 2009.
Strategies with Moving Averages in the Forex Market - By DailyForex.com
Strategies with Moving Averages in the Forex Market - By DailyForex.com
By Dianne L. Fecteau
A moving average (MA) is an old and reliable tool used by traders to smooth price data. For example, a 20-day simple MA is the sum of prices for 20 days divided by 20. The smoothing makes it easier to see the underlying trend. Many traders use the MA for just this purpose alone.
In the chart below, you see that a 55 day exponential MA (in red) tends to follow the trend line fairly well on the EURUSD daily chart. As prices moved up from the bottom on the left side of the chart, the MA soon turned up as well.
In addition to displaying the underlying trend, there are three other ways you can successfully use a moving average (MA) in your trading.
The first is for determining support and resistance. In the Euro daily chart, you can see that the last three times price has approached the MA, it has served as support. The pair touched the line again on December 4, 2009 and it remains to be seen whether the EMA will again serve as support. You can experiment with different moving average lengths to see which ones are most effective, depending on the pair you trade and the period you use for trading.
A second way of using the MA is to indicate price extremes. If you examine prices compared to the 55 day EMA on the Euro chart, you see that prices moved well above the average on four occasions, once the uptrend was established. When the distance between price and the average increases, it’s a result of price deviating from its mean. When price returns to the average, it reflects the tendency of price to revert to a mean. Both situations present a trade opportunity. When price is at an extreme, there’s an opportunity to place a contra-trend trade. Since this would be trading against the prevailing trend, such a trade carries more risk. The more conservative trader can wait for prices to revert to the mean and then take a position that’s in the direction of the trend.
Finally, the trader can use an MA for specific signals. One such signal is when price crosses an average. Another is when a shorter MA crosses a longer one. In the EURUSD three-hour chart below, you can see four successful crosses of a shorter 20 EMA to a 50 EMA.
Note that in sideways periods of consolidation, this method tends to produce whipsaws.
The speed of the moving averages you choose will determine how many signals you receive from this approach. A 3-day MA will result in more signals from price crossing it than will a 20 day MA. Similarly, the length of time required for a 21-day MA to cross a 55 day MA will be longer than that required for a 3-day to cross a 5-day MA. You need to test various lengths to see which ones work best for you.
As always, safety demands that you use other methods in addition to the moving averages. Such methods might include price patterns, candle behavior, and indicator readings. However, this very basic tool can be a useful addition to trading decisions.
© Dianne Fecteau, 2009.
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What is Forex Market?
What is Forex Market?
The biggest money market in the world, Foreign Exchange or Forex or FX is a platform where money is sold and bought freely between buyers and sellers. With over $1.5 trillion USD being traded daily, the foreign exchange market has now become a market which is open to trading by an average investor as much as it is open to a high investor.
Launched over three decades back, in the early seventies, Market Forex introduced free exchange rates worldwide, according to which, the price of the currencies was determined on the basis of demand and supply only. No external regulatory authority was and still is, allowed to set or fix prices or rates.
The power of setting or fixing a price for each currency is with the participants of the market, the buyers or the sellers, who decide the price of one currency against the other.
Forex Market is also free and independent from all or any outside control and is open to all, as far as free and fair competition is concerned, making it the perfect market to invest in.
Today, Forex market deals in over hundred times the every day trading done in the New York Stock Exchange. The Forex market is an over-the-counter market in which buyers and sellers trade through different means of communication such as telephone, fax or internet network rather than being physically present on the exchange location.
The major reason for this is that contrasting to other money markets, the Foreign Exchange market neither has a physical location nor any central exchange. And it is this lack of physical exchange, which enables the Forex market to trades incessantly, 24 hours a day, going from one time zone to the other, from the world’s one major economic center to another, day after day.
Beginning since 1997 till date, more than a trillion dollars of foreign exchange activity has been taking place at Forex, day after day. The every day forex trading quantity escalated from US$5 billion to US$1.5 trillion approximately. At this pace, it can be said for sure that the Forex market continues to grow at an exceptional rate.
Going back to the time when Foreign Exchange market had been launched, before the Internet geared up its popularity, Forex was only limited to big companies, transnational or global banks and affluent corporate individuals, who could trade currencies in the market through the bank-owned trading systems.
During that time, opening an account for trading required a deposit of as much as US$1 million. It was only with the advent of Internet and online technology, that today, investors can open an account as well as trade successfully, with only a few thousand dollars.
Brokers are a significant part of this trading industry. It is only because of these Forex Brokers, that this Foreign Exchange market is a nonstop cash market, with a continuous buying and selling of currencies of different nations.
Forex market conditions are highly unpredictable in nature and change every second, with fluctuation in price being the only constant factor in this trading. This is the main reason why, at times, Forex is also known as a highly fickle and fragile market.
Forex today, provides a great substitute to the stock market trading for the traders and investors. Although Stock Exchange provides a far larger variety of stocks to trade in, Forex offers only a few major currencies to trade for, where in the US Dollar, Yen, British Pound, Swiss Franc, and Euro, are the most popular ones.
Trading such big currencies is definitely more exciting for the investors than the stocks, and it can be seen that more and more traders and investors are now turning towards Currency trading to get the real thrill of the trading business.
Tips for New Forex Traders
Tips for New Forex Traders
Forex has always been a magnet for investors and traders, who are looking for an exciting business venture to invest in, giving them the thrill, adventure and excitement, along with an idea of a quick and easy way to make profits.
But, for those who are relatively new to the Forex trading world, it is extremely important to know exactly what you are getting into. When it comes to the matter of investing a huge amount of your hard earned money into something, first time investors should always make sure what they ought to expect out of it. What should and should not be done. What steps should be taken to play safe and what to do that keeps them at away from the frauds and scams.
First of all what needs to be learnt is, what is Forex and how does it work? What need’s to be known next are a few important trading tips, which will facilitate you during your transactions.
Foreign Exchange or Forex or FX is one of the biggest money market in the world, and is a platform where currency is sold and bought freely between buyers and sellers. Forex, unlike any other financial markets, has no physical location or central exchange.
With over $1.5 trillion USD being traded daily, the foreign exchange market has now become a market which is open to trading by an average investor as much as it is open to a high investor.
Launched over three decades back, in the early seventies, Market Forex introduced free exchange rates worldwide, according to which, the price of the currencies was determined on the basis of demand and supply only.
A number of reasons are responsible for making Forex a distinctive financial market. To begin with, no external regulatory authority is allowed to set or fix currency prices or rates in this market, making Forex is market which cannot be controlled in any way. Also, it is one of those few money markets that necessitate very little trading education, training and experience.
In order to know the Forex market well, the new traders should know how to start trading Forex. The few important things to be kept in mind when beginning to trade Forex are as follows:
What needs to be done firstly is, to open a Forex account. This can be done by filling up an application form, providing the required essential credentials, like personal details, financial particulars, and other details such as whether or not, a broker will be allowed to mediate with any trade if it appears to get too precarious and dicey.
Once your account has been created and recognized, you can begin to flow cash in to it and start trading Forex.
New Forex traders are always advised to create two accounts while trading, one of them being a real account, while the other being a demo one. A real account will facilitate the trader to actually trade in the market, with real money.
The demo account helps the new investor learn more about the trading business. This way the new trader can practice his moves of trading in the market, without the fear of losing all his money in case he/ she goofs up or ends up making the wrong deal.
Also, before you start trading in the market, you should have a closer look at all the top five foreign currencies and their current rates to make sure, you are aware of the current rates and are not missing anything.
The top five Forex currencies are: Pound/USD, Swiss franc/USD, Euro/Yen, USD/Yen and Euro/USD.
Always keep a check on the market. With the time intervals on hourly, daily and weekly schedules with all the currencies that are in any way related to your trade.
Being a successful trader requires to come up with individual and unique trading strategies. There is no “Golden Mantra” or “Trade Secret”, which will work for the traders.
Every investor needs to come up with their own, personal and distinctive trading approach when it comes to the market. There are different ways by which, the traders approach the market. Sometimes they may bank solely on industrial and technical analysis.
Some may like better to go in for a more elementary and basic approach for trading, while others may make use of the past records of the market, combined with both technical as well as fundamental techniques for trading.
All these strategies help the traders in studying the patterns of currency price trends and movements, making it easier for them to foresee the course of the potential developments in the Forex market.
Currency prices in Forex market mostly move in trends. They have a pattern, through which, certain movements can be studied. Some of these movements which have been studied over several years mostly help in discovering that pattern in the market trend. These trends are what should be recognized and valued properly, to facilitate the creation of an excellent trading strategy.
Any factors, financial or political, having some control over the value or the price of a currency, have already been measured by the market to be included as an important factor in creating a price trend.
When trading for the first time, it is always advisable to invest by the trends. Trading with a trend can facilitate you by advancing your chances with profit. Many new investors are enthusiastic to start trading as soon as they can, eventually ending up trading in any direction.
Trading by a trend or following a pattern and studying the market can increase your odds of being favored by the market, making your trading prospects high.
Choosing the right Forex Broker
Choosing the right Forex Broker
When new in the Currency trading market, one of the hardest decisions to make is that of choosing the right broker. It is difficult to decide on a Forex broker, whom we can safely open our trading accounts with, especially when there are so many of them in the market.
Offering features, limitations, pros and potential differing from there fellow brokers, there are a number of individually suitable brokers in the market.
Although every individual trader has its own personal parameters on which they judge the broker before choosing one, some parameters should be kept in mind always, before opting for any broker, whomsoever.
Is your broker established and regulated?
It is extremely important to know whether the broker you want to choose, is established and regulated or not. Choosing an established broker can confirm you about his reputation and the amount of expertise he has about the market.
A regulated broker will ensure credibility in your trade. This is because of the fact that every regulated broker has to present his fiscal reports to the regulatory bodies, such as local regulatory bodies like NFA (National Futures Association) or FDF (Swiss Federal Department of Finance) for US traders and brokers.
These reports, if failed to be presented, can give these bodies the right to penalize them to the extent of even expiring their market membership as a broker.
Such stringent rules and orders compel all these Forex brokers to maintain see-through fiscal reports. Also, such regulations on brokers facilitate the traders and depositors to trade safely, hence increasing their overall investor security.
What is the current state of affairs while trading?
The current state of affairs at your trading platform along with the features and conditions offered by your chosen broker are amongst the most important factors that should be kept in mind while trading. These factors include within them, certain aspects such as:
Brokerage or commission
Some brokers demand a fee or a commission from the traders. But it is acceptable if some of them are charging a fee, as they might be offering a smaller spread than the other brokers in market.
Smaller spread
Clearly, the lesser the spread on a currency pair, the better is the trading environment for the traders.
Trading implementation
Different brokers guarantee different targets. Most of them go in for assuring quick and visible implementations through normal market situations. Trading implementation deals with keeping a track of how rapid yet steady are the execution of trades really going on.
Investor protection
Make sure that all your trading details and finances are kept in a separate account and are secured with an insurance cover.
Lowest investment
Every trader or investor should have proper knowledge about the lowest sum of funds which are a pre requisite for opening an account for trading purposes.
If kept in mind before going in for a full fledged trading, this is a very useful and helpful feature which will help them to experiment a little and see for themselves, how well or bad do they perform.
Vigilance
Going by the above mentioned parameters, must have eliminated a number of brokers from your pick list. With a few left in hand now, you still have to cut short to just one or two of them to choose from.
Here is when you need to check the remaining. Once you have stepped in to the market, you should now get aware of your surroundings and get vigilant in your actions.
Some of the major aspects for which you should gain knowledge and get informed are:
Slippage
Slippage can be known as the unfavorable difference in the currency’s price movements between the price when the order is placed and the actual market value of it. What you need to know is whether your broker respects stop loss and win profit levels?
Customer support
This is the most significant factor to be considered before finally selecting a broker for yourself. Is your broker courteous to talk to? Do you think you can openly discuss your doubts and apprehensions with him? Is he enthusiastic to help his investors and clients?
If your broker is registered with the local regulatory bodies, it is very easy for you to visit the supervisory authority’s website or office and get hold of as much information as you require about your Forex broker.
Go ahead and ask other traders about their understandings, incidents and experiences with their own brokers.
Get as much of broker information as you can. You can take help from certain forums related to broker information such as ForexFactory, ForexNews.
With the above given parameters, it should be much easier for any trader or investor to now choose a broker, more wisely and diligently.
Why opt for Forex trading?
Why opt for Forex trading?
With more than $1.5 trillion USD being traded daily, the foreign exchange market has managed to become the world's largest financial market, over the last three decades. With the large minimum deal sizes and rigid financial requirements, the Forex market, till recently, was not explored by the common trader or individual investor. But now the average investors can also engage in Forex trading. Some of the advantages of Forex trading are as follows:
24 hours trading
Forex gives its traders a 24 hour trading opportunity. Being a Forex trader, you can trade 24 hours a day from Sunday 5:00 pm (ET) to Friday 4:30 pm. This gives traders an opportunity to trade according to their convenience, going by their own schedule and also a chance to react instantly to any breaking news of the markets.
High levels of liquidity
Also, acting as a huge attraction is the high liquidity. With almost 90% of all the currency transactions consisting of 7 major currency pairs, helps these currencies display price stability, smooth trends, narrow spreads and high levels of liquidity. This liquidity mainly comes from the banks which offer cash flow to companies, investors and market players.
No commission
With “free of commission” trading, Forex trade lets you keep 100% of your trading profits. This makes Forex trading even more attractive as a business opportunity, especially for those who want to deal on a regular basis.
Steady trading prospects
The market is constantly moving and since Forex trading involves buying and selling of currencies, so traders can easily operate in a rising or falling market. This is because, there are always trading prospects, whether a currency is rising or deteriorating in relation to another currency. So there is always profit potential in the Forex market, whether it’s a rising one or a falling one.
Along with these major advantages, the Forex market also has some other merits such as, Forex trading gives its traders, an opportunity to bigger profits as returns on their invested money. Also, since the market is open 24 hours a day, 5.5 days a week, it gives the investors can make their deals anytime they want to.
With such superior speed of the market, and fine liquidity, even the largest of transactions are conducted within a few seconds. You can study the Advantages and Disadvantages of Forex Trading as well on our website.
source : http://www.marketforex.net/why_forex.html
How to trade Forex
STEP 1:
The step 1 defines certain concepts and terms of Forex Trading-
Quotes are a vital part of the foreign exchange trading, as Forex trading is done in terms of quotes. Therefore, comprehending these quotes is the first important step.
Firstly, in a Forex quote, the currency listed first is known as the Base currency. For example, we have EUR/USD. Here, EUR is the Base currency.
Secondly, the base currency has always the value 1. In other words, the rate of other currency is calculated against 1 pt of the Base currency. For example, we have EUR/USD where EUR is the Base currency. Then 1 EUR = 1.2323 USD or the value of one currency against the other in the pair.
Thirdly, when dealing in terms of quotes, prices are expressed in terms of Pips. Pips can be defined as “percentage in points” and are mostly the fourth decimal point i.e. 1/100th of 1%.
Also used while trading through quotes, are two significant terms known as Bid and Ask. These two terms are responsible for making trading quote, a two-sided quote.
Bid can be defined as ''The price at which the base currency is sold concurrently buying the counter currency. Ask can be defined as “The price at which the base currency can be bought concurrently selling the counter currency''
STEP 2:
Step 2 illustrates the other key features of Forex trading which are namely, the leverage and the Margin. These two are immensely important in attracting the interest of the traders as they enhance the trading power of the investors.
The leverage is the ratio of the deposited amount to the amount that can be traded. Leverage enables the investors to deposit a small amount of money but still trade for a much larger amount. This way, investors can trade easily, utilizing less money to deal.
Margin, therefore, is the minimum amount required to be deposited before an investor starts trading. This can also be known as the initial amount with which the Forex trading account can be opened.
A detailed Example below illustrates exactly how Forex trading is done-
Supposing the current bid/ask price for EUR/USD is going by the rate of 1.5027/30, giving you the option to buy 1 euro with 1.5030 US dollars or sell 1 Euro for 1.5027 US dollars. Now, if you feel that the Euro is underrated against the US dollar, you would opt on buying Euros, selling your dollars at the same time. So you buy 100,000 euros by paying 150,300 dollars. You can then start analyzing the market, waiting for the exchange rates to rise.
As predicted, the rates begin to rise and then you decide a favorable rate at which you plan to sell your Euros to get a hefty profit. Supposing the Euro rises to 1.5090/93. Now, to realize your profits, you sell 100,000 euros at the current rate of 1.5090, and receive $150,900.
You bought 100k Euros at 1.5030, paying $150,300. You sold 100k Euros at 1.5090, receiving $150900. That's a difference of $600 or in other words, you successfully earned a profit of $600.
Return on Investment = $600
Always learn a lesson from the Forex Indicators, keep a watch, think long term and then take a step.
STEP 3:
MarketForex does e-trading using high end MarketForex softwares. Easily accessible and user friendly, they have a simple operating process. For instance, the currency pair to be bought or sold can simply be dealt with, by clicking on the sell or the buy key, placed in front of that currency.
After the deal to be done is selected, a quote is then displayed by the software, making it easier for the user to keep track of the records. Also, MarketForex software provides some attractive powerful features such as account details of the holder, like balance, leverage and margins, along with stop/limit orders.
The trader also has the option of selecting various other currency pairs for trading purposes. Before investing always analyse the forex market with various types of forex analysis.
