Posts

Showing posts from November, 2011

Free Spread Trading, how could this possible

Today browsed the Internet and found out that some of the brokers are offering no ‘Spread’ or ‘Commissions’ for position closed without profits. This is a good opportunity for traders which have multiple opening in a single day. Technically speaking, this move will help the traders to cut more losses against the ‘Spread’ or ‘Commissions’. However, re-think back; how would the Forex brokers make money by not charging the clients on all the positions open with them? The answer to this would be probably on volumes, as this will definitely able to attract tones and tones of new customers to open the account with them. Lets me try out the demo account on these brokers to see the efficiently of their trading platform offered, and feel free to shares your views

Forex Money Management

Image
This video show you how to manage your money and risk management. Enjoy viewing

The big three of Forex Market Analysis

These ideas will basically talking about the ways on how the trader analyze and ideas to trade the Forex market. Basically there are three types of market analysis - The Technical Analysis - The Sentiment Analysis - The Fundamental Analysis Frankly speaking, there is no option to choose 'the best' out of the three basic analysis rules before initiate a Forex trade. To be successful in Forex Trading, you need to master all these three analysis mechanism. Some Forex broker will be providing the tools in their trading platform.

Trading indicators and news

Most of the traders are trade using a state-of-art trading indicator such as MACD which usually customize to their needs. Would not discuss the types or indicators and how to use as very subjective to the objective and the trading strategies. Preferred to trade based on news releases (please refer to the 'Resources' tab) for Forex Calendar on news releases. The most profitable trade is during the release of 'non farm payroll' release by US every first Friday of the month. The pips can be significantly jump between 50 to 100 pips after the release

Currency Pair

Forex currency pair is the pair of currency (example USD/JPY) . Below are the major currency which mostly traded on daily basis. Most of the Forex traders must had traded one of the below pair on their trading journey. Based Internet search engine and FX broker reviews, the trading volume on USD, EUR and JPY are accounted  more than half of the daily volume. USD - United States Dollar JPY - Japan Yen Yen EUR - Euro zone members GBP - Great Britain Pound CHF - Switzerland Franc CAD - Canada Dollar AUD - Australia Dollar NZD - New Zealand Dollar

Why and who trade Forex

Others than banks and company, most of the daily Forex trading volume are done by the independent traders like you and me. Thanks to the Internet, which allows traders to trades from their home, office or anywhere with Internet access.  Traders can just open an account with the preferred brokers over the Internet. Using the Internet search engine with key word such as FX broker, there are many results; would be recommended to do survey before signing up. Things to look out for are such as  - Type of accounts  - Leverage / Margin  - Trading Platforms - Deposit and withdrawal of funds - Spread - T & C and many others Importantly trading in Forex is safer than trading a company shares with can be manipulated by an individual, while a currency represent a country which unlikely or difficult to be manipulated. Other than above, the leverage system allows a trader with minimum amount of fund to trade more than what he/she has in the account. Example if the leverage is ...

Started a website on Forex and online marketing

Just created a website on Forex and online marketing which took me more than a day to publish that little volume of information. More items to be added along the ways and a forum will be created there for discussion

'Forex Trading Secrets Trading Strategies the Forex Market Book'

Found this book titled 'Forex Trading Secrets Trading Strategies the Forex Market Book' by James Dicks HB is great. The book helps readers implement trading strategies and build a successful trading plan. It also cover other topics include money management, trading psychology, and technical analysis You can find this book at bookstores using this reference 0-07166422X

Mobile trading platform (Oanda)

Tried the Oanda mobile platform today. The software is downloadable from the Android market place for free. The mobile trading system enable user to place orders, view positions, view prices, update/modify existing position, view trading activity Eventhough the chart is simple, there is no chart tools which can be associated/use with the chart. Hope this fuction can be added during the upcoming release... Made 10 pips via mobile platform on a Demo account today on EUR/USD pair . Happy trading  ..

Using MACD High Probability Trade Setups for Trend Reversal (Youtube Video)

Image
Please watch this video on 'Using MACD High Probability Trade Setups for Trend Reversa'

USD Consolidation Underway Ahead of Holiday- Outlook Remains Bullish

Image
USD Consolidation Underway Ahead of Holiday- Outlook Remains Bullish Source: http://finance.yahoo.com/news/USD-Consolidation-Underway-fxcm-3835942746.html?x=0&l=1

Forex Demo Account (Oanda)

Image
Forex Demo Account This Broker enable web trading, where you can simple login into the platform using Internet Browser. Registered a demo account account here http://fxtrade.oanda.com/trade-forex/demo/   The benefits of the above demo account as follows (which copied from the Oanda Website) - Your practice account never expires. You get unlimited free access to the account,    for as many or as few times as you want. - Trade any time, 24/7. Only OANDA is open for weekend forex trading. - Reset your 100,000-unit starting balance or your profit/loss at any time, and change   your leverage to test your comfort level.                                                          ...

Dollar Marks another Six-Week High, Conviction Questionable

Image
Dollar Marks another Six-Week High, Conviction Questionable By John Kicklighter | DailyFX   Source http://finance.yahoo.com/news/Dollar-Marks-another-Six-Week-fxcm-111324272.html?x=0&l=1

Forex Trading for Beginners What the brokers don't tell you (Youtube Video)

Image
Folks, watch this video carefully.

S&P says no cut planned in US credit rating

Image
S&P says no cut planned in US credit rating S&P says it will not cut US credit rating based on failure of supercommittee to reach deal Source http://finance.yahoo.com/news/p-says-no-cut-planned-232038389.html

The great Forex Calendar

Image
Found this useful link which packed with full information of news releases for Forex. Added the link under 'Forex Resources' for future references URL Link taken from ForexFactory -->  http://www.forexfactory.com/calendar.php Sample screen shot :)

My registration of Forex demo account

Just registered for the 'Demo' access for my Forex trading training. Basically the application is easy for the beginners and started my first trade using Metatrader application. Will keep all posted :)

My FX Journey: What is Forex

My FX Journey: What is Forex : FOREX or in normal language known as 'Foreign Exchange'. Example exchanging currency from one to another (e.g. from US dollar (USD) to Japan...