Quality Forex training is the key to success for any budding Forex trader. But sometimes I think Forex training is too regulated then at other times I think that there isn't enough oversight. The reason that Forex training is so important and vital is because the Forex market is extremely competitive, volatile and fragile. Training is an essential step to become an experienced trader. Forex training is in demand as many people look for ways to profit from the currency trading marketplace.
Some things to consider when looking for free Forex training. Many websites offer a free demo account and free Forex trading System training. You can get free, live Forex training over the web from professional traders. Go to one of these websites and try a free practice account and learn how currency trading works.
Choosing which of the many Forex courses you want to take is not an easy task. There are literally hundreds of courses and materials out there for proper Forex training. Some training courses are specifically designed for home study use. But is it necessary for new Forex traders to study more about Forex trading courses or just join a Forex training program. The good news is that lots of courses will show you winning entry techniques and you should take the time to find and digest as many training courses as you can before you begin. Due to this fact, more and more people are either enrolling into FOREX courses or purchasing different kind of books regarding FOREX trading. Online education courses are a great way to learn and there are many to chose from on the internet today.
Without the proper preparation and expertise, a trader's chances of succeeding are reduced. With the correct training and mentoring a new trader can then intelligently develop a strategy that is suitable for him. Get to know the tools of the trade, as well as what will be expected of you to become a successful trader. If you'd like to learn how to become a successful Forex trader, consider a professional Forex mentoring course. With this kind of one on one assistance, a new trader can acquire and improve their necessary professional trading skills. With a little research, you can learn how to avoid common Forex trader mistakes and how to learn to move on. Have you heard the wise saying that a trader who fails to plan, plans to fail.
You may ask, “Do I have what it takes to be a currency trader” ask yourself do you have the drive and tenacity to succeed . I can tell you that as a well trained currency trader you can earn average profits of 5% to 25% or more per month. As a competent Forex trader you must study and understand daily foreign exchange rates. Becoming a successful trader will take work and a little stress, but the rewards are great. But I would say that fear and greed are, without a doubt, the enemies of the successful Forex trader and proper training is very important if you seriously want to get into the world of Forex trading.
So to sum it up quality Forex training is the key to success. The reason that Forex training is so important and vital is because the Forex market is extremely competitive, volatile and fragile. Forex training is essential to become an experienced trader. Forex training is very much in great demand as many people are looking for ways to profit from the currency trading marketplace. Training is widely available on the internet, including online courses, advanced trading workshops, books and more. If you search the internet you'll discover a lot of companies offering Forex training along with some great free Forex resources.
Andrew Norman
Runs a free Blog site giving advice on Forex trading and training. Has lots of useful stuff like a Daily Forex Report, links to free trading systems, books etc. at [http://forex-gbh.com/blog]
Tuesday, 22 December 2009
Reasons Why Currency Forex Trading Remains A Secret
Forex currency trading can easily be found nowadays over the internet. If you search the net, there are numerous web sites offering hundreds of investment programs like currency forex trading, real estate, stock trading and many others.
If you ask some of the currency forex traders why they choose this trade from among the many options, the likely answer they would give is that currency forex trading is an easy way to earn money. Very safe too if done on the internet.
Currency forex trading is the most profitable internet income opportunity because you can do it at home, in the office and from any country in the world.
In currency forex trading online, you do not need to do any marketing, selling or promotion to succeed. You do not have to have hundreds of dollars to be able to open an account. And you would not be spending much also in the course of your currency trading career.
All that is needed to be done is open an account from any of the brokers with as little as $300-$2000. then all you have to do is follow the instructions given on how to go about buying and selling your currency forex trade.
When the price of the forex currency is low, start buying. If the price suddenly goes up, sell your currency and make instant and easy money. All this is done in a day. You can easily go from buying to selling your currency forex within the span of those short hours.
After having done your trade for the day, you can log off the internet and just come back on to check on what is happening to your currency forex trade and the forex market itself. No harm in checking once in a while and seeing if you need to have some actions done.
The good part about doing currency forex trading online is that you can already enter all the buy trades and their specified prices. Whenever the value of the currency forex rose and reached your desired selling price, the currency will be automatically sold for you. You just made some money and you do not know it yet. The nest time you log on to your account, you will see that you are some cash richer.
Another good thing about currency forex trading online is that you can have a permanent job and still do your currency forex work in your spare time or whenever you are available to see what has been happening.
Currency forex trading is trading the easy way. This is how the system works.
Before putting real money to open your own currency forex trade, you first have to avail of the free trial account and practice there for some time. The main purpose is to better understand how the currency forex works and to acquire the proper skills needed.
In currency forex trading, you can choose how much money you wish to invest, how much money to make and when to make it. Your computer would be your “ATM” machine that tells you the amount of money you now have available. You are the boss in the currency forex trading. You can do as you please and decide what steps to take in your every action.
Currency forex trading is the fastest and easiest way to make money online compared to other investment programs. The forex market is a daily business worth billions of dollars that is much larger than all the stock in the world combined together.
There are only some of the reasons why people choose currency forex trading over other trading and businesses that are rampant everywhere nowadays especially on the internet.
Maybe this is also why many people are not aware of currency forex trading yet. By reading more about this kind of trading, people would get to know the secret behind one of the greatest wealth on earth. Perhaps they would also know why currency forex is little known to many people and why it is kept hidden until now.
Not everybody is given the opportunity to try and enter into the currency forex trading and avail of its advantages. So currency forex traders should be glad and take the best care of their currency forex accounts.
Kevin Anderson is the owner and operator of http://www.forextradingcenter.info a site developed to give users the most updated information on how to trade Forex properly to make a profit.
If you ask some of the currency forex traders why they choose this trade from among the many options, the likely answer they would give is that currency forex trading is an easy way to earn money. Very safe too if done on the internet.
Currency forex trading is the most profitable internet income opportunity because you can do it at home, in the office and from any country in the world.
In currency forex trading online, you do not need to do any marketing, selling or promotion to succeed. You do not have to have hundreds of dollars to be able to open an account. And you would not be spending much also in the course of your currency trading career.
All that is needed to be done is open an account from any of the brokers with as little as $300-$2000. then all you have to do is follow the instructions given on how to go about buying and selling your currency forex trade.
When the price of the forex currency is low, start buying. If the price suddenly goes up, sell your currency and make instant and easy money. All this is done in a day. You can easily go from buying to selling your currency forex within the span of those short hours.
After having done your trade for the day, you can log off the internet and just come back on to check on what is happening to your currency forex trade and the forex market itself. No harm in checking once in a while and seeing if you need to have some actions done.
The good part about doing currency forex trading online is that you can already enter all the buy trades and their specified prices. Whenever the value of the currency forex rose and reached your desired selling price, the currency will be automatically sold for you. You just made some money and you do not know it yet. The nest time you log on to your account, you will see that you are some cash richer.
Another good thing about currency forex trading online is that you can have a permanent job and still do your currency forex work in your spare time or whenever you are available to see what has been happening.
Currency forex trading is trading the easy way. This is how the system works.
Before putting real money to open your own currency forex trade, you first have to avail of the free trial account and practice there for some time. The main purpose is to better understand how the currency forex works and to acquire the proper skills needed.
In currency forex trading, you can choose how much money you wish to invest, how much money to make and when to make it. Your computer would be your “ATM” machine that tells you the amount of money you now have available. You are the boss in the currency forex trading. You can do as you please and decide what steps to take in your every action.
Currency forex trading is the fastest and easiest way to make money online compared to other investment programs. The forex market is a daily business worth billions of dollars that is much larger than all the stock in the world combined together.
There are only some of the reasons why people choose currency forex trading over other trading and businesses that are rampant everywhere nowadays especially on the internet.
Maybe this is also why many people are not aware of currency forex trading yet. By reading more about this kind of trading, people would get to know the secret behind one of the greatest wealth on earth. Perhaps they would also know why currency forex is little known to many people and why it is kept hidden until now.
Not everybody is given the opportunity to try and enter into the currency forex trading and avail of its advantages. So currency forex traders should be glad and take the best care of their currency forex accounts.
Kevin Anderson is the owner and operator of http://www.forextradingcenter.info a site developed to give users the most updated information on how to trade Forex properly to make a profit.
Monday, 21 December 2009
Automated Forex System Trading - Maintaining Positive Expectancy
What is Positive Expectancy?
Positive expectancy sounds like something a motivational speaker would talk about or a psychiatrist. In fact, there are some people that use the term for those reasons. This article is about using the term in the context of Forex trading strategies, STATISTICS, and MATH. One of the major advantages from using an automatic Forex trading system is built in discipline that maintains a high POSITIVE EXPECTANCY that can lead to large profits. Positive expectancy defined in its most simple form, is that on the average, there is a probability that you will make more money than you will lose.
If the Forex trader gets nothing else from this article the MOST IMPORTANT POINT that must be understood is that WITHOUT POSITIVE EXPECTANCY in any Forex trading system automatic or otherwise, there are no money management procedures or trading techniques that will prevent you from losing all your money.
Most traders confuse positive expectancy with the probability of winning. Forex traders and especially Forex system developers love to brag that their system "picks winners 97.3% of the time", and fall for the easy but incorrect logic and "feeling" that a high percentage of wins means a high profit. Sadly, this is NOT TRUE! Winning 97.3% of the time will not generate Forex profits if the 2.7% of losing trades wipe out your account. Confusing win probability with positive expectancy is what ultimately leads to Trader's Ruin.
Trader's Ruin is the mathematical certainty that over time the trader will lose all his money to the market if he trades without positive expectancy. Many very successful traders and auto Forex trading systems have a win probability of about 40%, with a high positive expectancy that returns huge profits.
If an automatic currency trading program wins 9 out of 10 times (90% wins!), and the average win is $10 but the average loss is $100 - that system has a negative expectancy and will lose money!
If an automatic Forex currency trading system wins once every 20 trades (5% wins!), losing an average $5 each losing trade but makes an average $100 on each win, that system has positive expectancy and over the long run will make money.
Did that tie your brain in a knot? Let's explain a little further.
To be able to say an automatic Forex trader, or any system, has positive expectancy means that on average the system will make more money than it loses. On any given trade, it may win or it may lose, but the average over time and many trades is profitable. This should include costs and slippage and be measured over an absolute minimum of 30 to 100 trades, preferably many more.
This analysis assumes the Forex trader and the Forex trading tool are properly capitalized and the trades are properly sized to reasonably ensure the system will survive the inevitable periods of losses.
"Properly capitalized" means you have enough money in your account that you can make properly sized trades and survive long enough for the average returns to grow your account. If the account is too small, it is much more likely a run of losses will wipe you out before you have time to generate profits.
"Properly sized" trades means that the average size of expected profit on any trade is large enough to cover expected average losses plus trading costs and still have positive expectancy.
"Exit loss" will be defined for this article as the amount the trade will be allowed to move against us before it is "stopped out" by our stop loss setting and we exit the trade. This applies to both winning and losing trades.
"Costs" in Forex trading are usually in the form of "bid/ask" spreads, Forex brokerage fees or commissions are usually small or non-existent. There are still real costs that figure into the expectancy of the system.
"Slippage" is defined as the difference between the price a trader expected to pay when a trade is ordered and the actual price paid. The Forex market is always moving and if the market moves against our trade, the time between our contract order and when it is executed in the market may allow the price to change. A good Forex automated trading system has an average known slippage value figured into the system also.
To make this easier to understand, let's put some numbers to it. These are simplified examples to illustrate the concept and the numbers may or may not match real FX trading strategies.
If my automatic Forex trading system follows a set of rules that allows an exit loss of $10 before it is stopped out, and my costs are $10, and my "slippage" averages $5 then my average loss will be: $10 exit loss + $10 costs + $5 average slippage = $25 average loss per losing trade. These trades are generally trades that immediately move against the trader.
If the trader executes each trade at $1000/trade and if my Forex trading system has an average winning trade of $50 (which includes the $10 exit loss), after costs and slippage we have $50 -$10 -$5 = $35 profits.
Now all we need to figure out our expectancy is to know our probability of a winning trade. Let's start with a system that has a 50% chance of winning. So this system has the same winning average over time as flipping a coin.
The Expectancy Equation
Pp = Probability of Profit
Ap = Average Profit
Pl = Probability of Loss
Al = Average loss
Expectancy = (Pp x Ap) - (Pl x Al)
In our first case:
Pp = 0.5
Ap = $35
Pl = 0.5
Al = $25
Expectancy = (0.5 X $35) - (0.5 X $25)
= ($17.5) - ($12.5) = $5
So this system trading at $1000 per trade has a positive expectancy of $5 per trade when traded over many trades. The profit of $5 is 0.5% of the $1000 that is at risk during the trade.
Now let's examine how our Forex trading techniques, rules, and behavior can affect our profits. First let's pretend we have experienced a run of losses and we are low on money because we are not properly capitalized. What happens if we lower the amount of money at risk and only trade $500 per trade? This cuts our profits in half but does not affect costs and slippage. An average winning trade is now $25, after costs and slippage we have $25 -$10 -$5 = $10 profits. This is a big hit to profits, but it is still a profit... right?
If we examine our expectancy our numbers look like this:
Pp = 0.5
Ap = $10
Pl = 0.5
Al = $25
Expectancy = (0.5 X $10) - (0.5 X $25)
= ($5) - ($12.5) = -$7.5 !!!
This system trading at $500 per trade can be expected to lose money on the average of $7.50 per trade.
NEGATIVE EXPECTANCY ! By trying to conserve money we have ensured that we will lose money! This illustrates the importance of having a properly capitalized account for the size of our trade, and the importance of watching the effect of costs and slippage. Trading many small trades can push a good Forex trading system into negative expectancy with costs and slippage.
Let's now make a different assumption, let's double our trade size and start our trading at $2000 a trade (assuming our account is properly capitalized to do this). An average winning trade is now $100, after costs and slippage we have $100 -$10 -$5 = $85 profits.
Pp = 0.5
Ap = $85
Pl = 0.5
Al = $25
Expectancy = (0.5 X $85) - (0.5 X $25)
= ($42.5) - ($12.5) = $30
We doubled the amount of capital at risk, but it has increased our net average profit per trade by SIX TIMES! The percentage gain is also increased to 1.5%, an increase of profit per dollar risked by THREE TIMES. This is a very good result.
Let's examine one more case and double our trade amount again to $4000 a trade (assuming again our account is properly capitalized to do this). An average winning trade is now $200, we are assuming costs for this remain the same traded as one lot, after costs and slippage we have $200 -$10 -$5 = $185 profits.
Pp = 0.5
Ap = $185
Pl = 0.5
Al = $25
Expectancy = (0.5 X $185) - (0.5 X $25)
= ($92.5) - ($12.5) = $80
Another nice average profit per trade. We doubled the amount of capital at risk again, but this time it has only increased our net average profits by 2.67 times. The percentage gain is also increased to 2.0%, an increase of profit per dollar risked of only 1/3 of the previous increase. From this point on, increasing the size of our trade, assuming that fees and slippage stay the same, has only a small, gradually diminishing effect on our trade efficiency as it gets larger and larger. Gross and net profits will increase, but the average percent return on our capital at risk will stay about the same.
The examples above are simplified to make the arithmetic easier and to illustrate the concepts. Lot size, leverage, and many other factors complicate the equations in real world trading but the basic concepts remain the same. Without positive expectancy, the trader is assured of losing his money.
This demonstrates that the small Forex trader needs to carefully examine his trading techniques and exercise "iron willed discipline" in his trading to ensure that he can effectively "stay in the game". Trying to do "on the job" Forex training while making small timid trades with a "too small" account is not a way to "increase or protect your money," in fact it may be the sure way to Trader's Ruin.
The joy of automated Forex trading systems and mechanical trading software is that it enforces trading discipline that keeps losses small, and lets winning positions run with built in positive expectancy. It is Forex made easy. There are websites that do online reviews of several automated systems that have the capability to do simulated Forex trading online, on a Forex demo account, so that the average trader can test them for 60 days with no risk and each has a 100% money back guarantee. Many offer suggestions for the best Forex broker compatible with their online Forex trading platform and offer full support for setting up your Forex demo account.
The beginning trader, just learning Forex trading, can learn a tremendous amount just from the running the demo accounts and can learn which is the best Forex system trading software for his or her goals. Rather than spend money on Forex training, a currency trading seminar, or trying to create your own FX trading strategies and implement them, the astute trader can let the experts do that and just test their work for profitable results. Then sit back and watch the Forex autotrading robots make money while you relax and rake in the profits.
About The Author: Ben Theranbak is an avid student of history, economics, statistics and the markets. He has an MBA, an MS in Aeronautical Engineering and is a graduate of the Naval War College. A former Naval Aviator, Ben is a skydiver and world traveler. Get a FREE report on a SPECIAL new development in FOREX trading at his website at http://trueairspeed.ws This site also offers reviews of several of the best available FOREX automatic trading systems that offer fully automated trading capability along with the ability to fully test the systems using Demo accounts or paper trading for a full 60 days along with full, unconditional 100% money back guarantees.
Positive expectancy sounds like something a motivational speaker would talk about or a psychiatrist. In fact, there are some people that use the term for those reasons. This article is about using the term in the context of Forex trading strategies, STATISTICS, and MATH. One of the major advantages from using an automatic Forex trading system is built in discipline that maintains a high POSITIVE EXPECTANCY that can lead to large profits. Positive expectancy defined in its most simple form, is that on the average, there is a probability that you will make more money than you will lose.
If the Forex trader gets nothing else from this article the MOST IMPORTANT POINT that must be understood is that WITHOUT POSITIVE EXPECTANCY in any Forex trading system automatic or otherwise, there are no money management procedures or trading techniques that will prevent you from losing all your money.
Most traders confuse positive expectancy with the probability of winning. Forex traders and especially Forex system developers love to brag that their system "picks winners 97.3% of the time", and fall for the easy but incorrect logic and "feeling" that a high percentage of wins means a high profit. Sadly, this is NOT TRUE! Winning 97.3% of the time will not generate Forex profits if the 2.7% of losing trades wipe out your account. Confusing win probability with positive expectancy is what ultimately leads to Trader's Ruin.
Trader's Ruin is the mathematical certainty that over time the trader will lose all his money to the market if he trades without positive expectancy. Many very successful traders and auto Forex trading systems have a win probability of about 40%, with a high positive expectancy that returns huge profits.
If an automatic currency trading program wins 9 out of 10 times (90% wins!), and the average win is $10 but the average loss is $100 - that system has a negative expectancy and will lose money!
If an automatic Forex currency trading system wins once every 20 trades (5% wins!), losing an average $5 each losing trade but makes an average $100 on each win, that system has positive expectancy and over the long run will make money.
Did that tie your brain in a knot? Let's explain a little further.
To be able to say an automatic Forex trader, or any system, has positive expectancy means that on average the system will make more money than it loses. On any given trade, it may win or it may lose, but the average over time and many trades is profitable. This should include costs and slippage and be measured over an absolute minimum of 30 to 100 trades, preferably many more.
This analysis assumes the Forex trader and the Forex trading tool are properly capitalized and the trades are properly sized to reasonably ensure the system will survive the inevitable periods of losses.
"Properly capitalized" means you have enough money in your account that you can make properly sized trades and survive long enough for the average returns to grow your account. If the account is too small, it is much more likely a run of losses will wipe you out before you have time to generate profits.
"Properly sized" trades means that the average size of expected profit on any trade is large enough to cover expected average losses plus trading costs and still have positive expectancy.
"Exit loss" will be defined for this article as the amount the trade will be allowed to move against us before it is "stopped out" by our stop loss setting and we exit the trade. This applies to both winning and losing trades.
"Costs" in Forex trading are usually in the form of "bid/ask" spreads, Forex brokerage fees or commissions are usually small or non-existent. There are still real costs that figure into the expectancy of the system.
"Slippage" is defined as the difference between the price a trader expected to pay when a trade is ordered and the actual price paid. The Forex market is always moving and if the market moves against our trade, the time between our contract order and when it is executed in the market may allow the price to change. A good Forex automated trading system has an average known slippage value figured into the system also.
To make this easier to understand, let's put some numbers to it. These are simplified examples to illustrate the concept and the numbers may or may not match real FX trading strategies.
If my automatic Forex trading system follows a set of rules that allows an exit loss of $10 before it is stopped out, and my costs are $10, and my "slippage" averages $5 then my average loss will be: $10 exit loss + $10 costs + $5 average slippage = $25 average loss per losing trade. These trades are generally trades that immediately move against the trader.
If the trader executes each trade at $1000/trade and if my Forex trading system has an average winning trade of $50 (which includes the $10 exit loss), after costs and slippage we have $50 -$10 -$5 = $35 profits.
Now all we need to figure out our expectancy is to know our probability of a winning trade. Let's start with a system that has a 50% chance of winning. So this system has the same winning average over time as flipping a coin.
The Expectancy Equation
Pp = Probability of Profit
Ap = Average Profit
Pl = Probability of Loss
Al = Average loss
Expectancy = (Pp x Ap) - (Pl x Al)
In our first case:
Pp = 0.5
Ap = $35
Pl = 0.5
Al = $25
Expectancy = (0.5 X $35) - (0.5 X $25)
= ($17.5) - ($12.5) = $5
So this system trading at $1000 per trade has a positive expectancy of $5 per trade when traded over many trades. The profit of $5 is 0.5% of the $1000 that is at risk during the trade.
Now let's examine how our Forex trading techniques, rules, and behavior can affect our profits. First let's pretend we have experienced a run of losses and we are low on money because we are not properly capitalized. What happens if we lower the amount of money at risk and only trade $500 per trade? This cuts our profits in half but does not affect costs and slippage. An average winning trade is now $25, after costs and slippage we have $25 -$10 -$5 = $10 profits. This is a big hit to profits, but it is still a profit... right?
If we examine our expectancy our numbers look like this:
Pp = 0.5
Ap = $10
Pl = 0.5
Al = $25
Expectancy = (0.5 X $10) - (0.5 X $25)
= ($5) - ($12.5) = -$7.5 !!!
This system trading at $500 per trade can be expected to lose money on the average of $7.50 per trade.
NEGATIVE EXPECTANCY ! By trying to conserve money we have ensured that we will lose money! This illustrates the importance of having a properly capitalized account for the size of our trade, and the importance of watching the effect of costs and slippage. Trading many small trades can push a good Forex trading system into negative expectancy with costs and slippage.
Let's now make a different assumption, let's double our trade size and start our trading at $2000 a trade (assuming our account is properly capitalized to do this). An average winning trade is now $100, after costs and slippage we have $100 -$10 -$5 = $85 profits.
Pp = 0.5
Ap = $85
Pl = 0.5
Al = $25
Expectancy = (0.5 X $85) - (0.5 X $25)
= ($42.5) - ($12.5) = $30
We doubled the amount of capital at risk, but it has increased our net average profit per trade by SIX TIMES! The percentage gain is also increased to 1.5%, an increase of profit per dollar risked by THREE TIMES. This is a very good result.
Let's examine one more case and double our trade amount again to $4000 a trade (assuming again our account is properly capitalized to do this). An average winning trade is now $200, we are assuming costs for this remain the same traded as one lot, after costs and slippage we have $200 -$10 -$5 = $185 profits.
Pp = 0.5
Ap = $185
Pl = 0.5
Al = $25
Expectancy = (0.5 X $185) - (0.5 X $25)
= ($92.5) - ($12.5) = $80
Another nice average profit per trade. We doubled the amount of capital at risk again, but this time it has only increased our net average profits by 2.67 times. The percentage gain is also increased to 2.0%, an increase of profit per dollar risked of only 1/3 of the previous increase. From this point on, increasing the size of our trade, assuming that fees and slippage stay the same, has only a small, gradually diminishing effect on our trade efficiency as it gets larger and larger. Gross and net profits will increase, but the average percent return on our capital at risk will stay about the same.
The examples above are simplified to make the arithmetic easier and to illustrate the concepts. Lot size, leverage, and many other factors complicate the equations in real world trading but the basic concepts remain the same. Without positive expectancy, the trader is assured of losing his money.
This demonstrates that the small Forex trader needs to carefully examine his trading techniques and exercise "iron willed discipline" in his trading to ensure that he can effectively "stay in the game". Trying to do "on the job" Forex training while making small timid trades with a "too small" account is not a way to "increase or protect your money," in fact it may be the sure way to Trader's Ruin.
The joy of automated Forex trading systems and mechanical trading software is that it enforces trading discipline that keeps losses small, and lets winning positions run with built in positive expectancy. It is Forex made easy. There are websites that do online reviews of several automated systems that have the capability to do simulated Forex trading online, on a Forex demo account, so that the average trader can test them for 60 days with no risk and each has a 100% money back guarantee. Many offer suggestions for the best Forex broker compatible with their online Forex trading platform and offer full support for setting up your Forex demo account.
The beginning trader, just learning Forex trading, can learn a tremendous amount just from the running the demo accounts and can learn which is the best Forex system trading software for his or her goals. Rather than spend money on Forex training, a currency trading seminar, or trying to create your own FX trading strategies and implement them, the astute trader can let the experts do that and just test their work for profitable results. Then sit back and watch the Forex autotrading robots make money while you relax and rake in the profits.
About The Author: Ben Theranbak is an avid student of history, economics, statistics and the markets. He has an MBA, an MS in Aeronautical Engineering and is a graduate of the Naval War College. A former Naval Aviator, Ben is a skydiver and world traveler. Get a FREE report on a SPECIAL new development in FOREX trading at his website at http://trueairspeed.ws This site also offers reviews of several of the best available FOREX automatic trading systems that offer fully automated trading capability along with the ability to fully test the systems using Demo accounts or paper trading for a full 60 days along with full, unconditional 100% money back guarantees.
What is the Best Forex Trading Software
If you are new to the world of Forex trading, you might not know what the best Forex trading software is. However, this is something you're going to want to know if you want to be successful in Forex trading. Good software can make the difference between being an adequate trader and a great and very successful trader.
This will present an overview of what Forex is and how it can work for you. Forex trading, also called foreign exchange trading, works by trading currency pairs. Basically, you are predicting that one country's currency within your pair is going to do better than the other currency in the pair your trading. You make trades based upon these predictions, and make or lose money based upon how things actually work out.
Even the best Forex trading software can't work for you until you know how the market actually works, but it can streamline the process for you once you do. Learn your way around the Forex market by opening up a "demo" account with one of the Forex traders online and practicing. While you practice, you can also begin to use Forex trading software so that you learn how to use it so that you can make trades to your best advantage. You should know that you should never trade with real money until you know the market very well and have learned how to use your Forex trading software expertly, too.
What the best Forex trading software can do for you
The best Forex trading software cannot "take over" your trades for you completely, even though some sites may tell you that you don't need to know anything about Forex and can still make money as long as you use their software. In fact, you're going to use your Forex trading software to make your trades for you automatically, based upon criteria you give it. That is the main key right there - the criteria you give it, and that is where your understanding of the Forex market comes in, so that you understand exactly what criteria to give the Forex software to maximize your profits and minimize your losses.
What your Forex trading software can do for you is to keep up with the Forex market, which moves very fast and in real-time. There is a lot of data to be analyzed and considered, much more than you can analyze manually. The best Forex trading software will receive this information as quickly as it comes in, and make your trades for you based upon the criteria you've given it so that you have your best success.
What should your Forex trading software be able to do?
Your Forex trading software should be able to provide you what are called "trading signals." These trading signals are basically indications provided to you by a third party that recommend whether you should buy or sell. Therefore, your best Forex trading software is going to have this particular function built into it as part of the service.
A second thing your Forex trading software should be able to do is to allow you to place what are called "stop loss" orders. These are automated orders whereby your currency will be sold if it falls below a certain value that you have specified. This is important, because it keeps you from "losing your shirt" on a trade that is losing money. By defining your stop loss at specific values, you accomplish two things. First, doing so ensures that you don't have to be there in order to have the stop loss order implemented. You simply place it and it is implemented at the appropriate time, automatically, unless you cancel it. It helps keep you from experiencing additional loss.
The second thing placing a stop loss order does is that it negates any psychological factors that may actually help cause extreme losses. Let's say you're losing on a trade and you've placed a stop loss order so that the currency is sold once it drops to two dollars. By doing this, you prevent yourself from risking further loss by saying, "Well, maybe this currency will gain in value once again, so I'm going to stay in on the trade and see what happens." In effect, you are giving yourself an automatic "out" and taking yourself out of the process once that loss has occurred.
Remember that even the best Forex trading software can't do everything. Forex trading software is meant to be a tool to help streamline the Forex trading process for you so that it is automated to some extent. However, you still must have a good solid working knowledge of the Forex system and how it works in order to be able to use your Forex trading software effectively.
It's a bit like learning how to drive a car. Improvements in cars these days like power steering, power brakes, and airbags make driving safer and much easier than ever before. However, you still must be able to steer the car effectively, to accelerate and brake as necessary, in order to be a safe driver. In other words, the car is a vehicle you control, and you can't simply sit back and let it do the work for you.
The same is true of even the best Forex trading software. It can streamline the process for you and make it much easier and more automatic, but you still have to be in control. This is why it's imperative to know the Forex market very well before you try to trade with real money. In addition, having a thorough knowledge of the Forex market will tell you which software is best for you.
For more insights and additional information about the Best Forex Trading Software as well as reading reviews of the top and most popular Forex trading software, please visit our web site at http://forexsoftwarereviewguide.com
This will present an overview of what Forex is and how it can work for you. Forex trading, also called foreign exchange trading, works by trading currency pairs. Basically, you are predicting that one country's currency within your pair is going to do better than the other currency in the pair your trading. You make trades based upon these predictions, and make or lose money based upon how things actually work out.
Even the best Forex trading software can't work for you until you know how the market actually works, but it can streamline the process for you once you do. Learn your way around the Forex market by opening up a "demo" account with one of the Forex traders online and practicing. While you practice, you can also begin to use Forex trading software so that you learn how to use it so that you can make trades to your best advantage. You should know that you should never trade with real money until you know the market very well and have learned how to use your Forex trading software expertly, too.
What the best Forex trading software can do for you
The best Forex trading software cannot "take over" your trades for you completely, even though some sites may tell you that you don't need to know anything about Forex and can still make money as long as you use their software. In fact, you're going to use your Forex trading software to make your trades for you automatically, based upon criteria you give it. That is the main key right there - the criteria you give it, and that is where your understanding of the Forex market comes in, so that you understand exactly what criteria to give the Forex software to maximize your profits and minimize your losses.
What your Forex trading software can do for you is to keep up with the Forex market, which moves very fast and in real-time. There is a lot of data to be analyzed and considered, much more than you can analyze manually. The best Forex trading software will receive this information as quickly as it comes in, and make your trades for you based upon the criteria you've given it so that you have your best success.
What should your Forex trading software be able to do?
Your Forex trading software should be able to provide you what are called "trading signals." These trading signals are basically indications provided to you by a third party that recommend whether you should buy or sell. Therefore, your best Forex trading software is going to have this particular function built into it as part of the service.
A second thing your Forex trading software should be able to do is to allow you to place what are called "stop loss" orders. These are automated orders whereby your currency will be sold if it falls below a certain value that you have specified. This is important, because it keeps you from "losing your shirt" on a trade that is losing money. By defining your stop loss at specific values, you accomplish two things. First, doing so ensures that you don't have to be there in order to have the stop loss order implemented. You simply place it and it is implemented at the appropriate time, automatically, unless you cancel it. It helps keep you from experiencing additional loss.
The second thing placing a stop loss order does is that it negates any psychological factors that may actually help cause extreme losses. Let's say you're losing on a trade and you've placed a stop loss order so that the currency is sold once it drops to two dollars. By doing this, you prevent yourself from risking further loss by saying, "Well, maybe this currency will gain in value once again, so I'm going to stay in on the trade and see what happens." In effect, you are giving yourself an automatic "out" and taking yourself out of the process once that loss has occurred.
Remember that even the best Forex trading software can't do everything. Forex trading software is meant to be a tool to help streamline the Forex trading process for you so that it is automated to some extent. However, you still must have a good solid working knowledge of the Forex system and how it works in order to be able to use your Forex trading software effectively.
It's a bit like learning how to drive a car. Improvements in cars these days like power steering, power brakes, and airbags make driving safer and much easier than ever before. However, you still must be able to steer the car effectively, to accelerate and brake as necessary, in order to be a safe driver. In other words, the car is a vehicle you control, and you can't simply sit back and let it do the work for you.
The same is true of even the best Forex trading software. It can streamline the process for you and make it much easier and more automatic, but you still have to be in control. This is why it's imperative to know the Forex market very well before you try to trade with real money. In addition, having a thorough knowledge of the Forex market will tell you which software is best for you.
For more insights and additional information about the Best Forex Trading Software as well as reading reviews of the top and most popular Forex trading software, please visit our web site at http://forexsoftwarereviewguide.com
Forex AutoPilot - The Essential Things You Might Want to Know Before You Purchase FAPS
Are you ready to make money with Forex Autopilot software?
In this article I will cover most of the question people are asking or wondering about and also talk about important things you guys might want to know..
Well let's just start off with a introduction.
What is Forex AutoPilot?
Forex AutoPilot is basically a fully automated trading system specially designed for the forex market by Marcus Leary and the Forex AutoPilot System residude in the fully automated forex systems categories just like the name sugest.. Meaning that it not only has the ability to analyze the forex market trends and movements in real time format it is also able to place trades on it own completely without any users intervention.
What is the benefits/advantages of owning the Forex AutoPilot System?
1. The most important advantage the Forex AutoPiolt System has against us normal traders is to be able to trade in the forex market 24 hours a day round the clock without any rest.. Why I say this point is important is because as every traders knows the forex market runs 24 hours a day 5 days a week, it is simply impossible for us, a normal human being to attain. (You must be thinking it's crazy !) This is where automated forex trading with a powerful system like the Forex AutoPilot comes into play. It not only enhance your overall performance but also ensure thatyou do not miss out on any profitable entry points that you might miss when you are not attentive of the market movements, for example when you are sleeping or spending time with your friends or family..
2. If you are not experienced in trading, using a reliable and automated system like Forex Autopilot will help alot in keeping you away from the losses and at the same time providing you with an expert advisor working for you round the clock 24 hours a day as Forex AutoPilot has a very complex algorithm that can analyze the forex signals and at the same time keep you away from the market when it's unprofitable while trading the forex pairs which ever is gaining profit for you automatically.
3. From the users point of view, Forex AutoPilot certainly does not look like a scam because of the accuracy in identifying the trend without the use of the martingale strategy, a very risky gambling like strategy that many of the others forex robots out there was using to achieve high results in the back testing.
4. Within the forex community this particular system Forex Autopilot has gained a lot of popularity because of its consistency, service and guarantees hence it has become the popular weapon of choice for any people looking to create a TRULY PASSIVE INCOME while at the same time doesn't burn a big hole in your wallet. Forex Autopilot requires only a small investment from you and indeed the system does not demand a big investment. Wondering how "small" I mean? Find out HERE. The most important things that comes together with the purchase of Forex Autopilot is its "UNCONDITIONAL MONEY BACK GUARANTEE", which mean you will be able to use it for up to 8 weeks with totally "NO RISK" involved. Tempted? That is also 1 of the main reason i'm a proud owner myself.:)
5. Now lets move on to the factors alot of us traders are concerned about, the cost of the software and the benefits ratio that comes with it. Well lets compare the prices of the 2 hottest autopilot forex software out there in the market, 1st the FAP TURBO against FOREX AUTOPILOT and after research I found out that the FOREX AUTOPILOT has a lower price tag than the FAP TURBO and it also falls within the average price for this kind of product hence I can conclude that it is NOT over priced and there is no doubt that the benefits of this system will suppress its cost comfortably by a couple of hundred dollars in LESS THAN A MONTH. Great isn't it? therefore, this system delivers an extremely good bang for your buck and a very good cost versus benefit ratio.
6. Now lets talk about user friendliness, the Forex Autopilot System takes a little bit of getting used to it in the early stages ( just like how to operate a microwave for the 1st time ) but it is nothing you should worry about even if you are a complete newbie in the forex trading business. Simply start trading with a demo account and let the software do its magic and work for a few days until you feel comfortable. Just like anything before you start digging into your pocket and start trading with real money, you simply just have to take your time to familiarize with it and once you are over the testing and familiarizing phrase you are ready to have it working for you 24hrs a day round the clock as it places and closes the trading orders automatically all by itself.
7. How about this question, is it hard to execute? well actually there is really nothing much to execute once you start using the Forex Autopilot System and it will not take you long to learn how to use the system and it will run all by itself once you do so. Now all you have to do or need to do will only consist of stopping by to check on the performance of your investment from time to time so we all agree that this system is the king in the ease of execution department.
"IMPORTANT and MAIN" question people always asked or had it running in their mind.
Is Forex Autopilot really PROFITABLE? (Below is the Answer)
How much you decide to invest in your trading operation will be the amount of money you will initially make with the use of Forex Autopilot System but because of this software which actually does the trick even a small investment will quickly turn into a significant amount of money. Yes, indeed as this forex software handles all the process automatically for you by constantly staying connected to the market, analyzing and making important split second decisions that will translate into money for your pocket. Their creator says that this system will deliver 96% winning trades but up to this date myself and a group of professional traders have experienced 6% of losing trades so according to our honest experience the success rate should be around 94% winning trades. Hence we can realistically say that this system will deliever up to 140% monthly return rate on whatever amount of money you decide to invest.
And lastly a final Conclusion:
Start taking advantages of automation by using a reliable forex system like the Forex Autopilot if you really want to profit from the forex market. I and my fellow professional traders who have been using it strongly recommend this system because out of so many competitors the Forex Autopilot System remains one of the most profitable automated forex software available.
Well guys I have come to an end of my article, really hope this article serves it's purpose helping readers/traders like you clear away most of the doubts and questions you have about the Forex Autopilot System. Many thanks for taking your time off your busy schedule to read my article and hope You start to make the right decision soon and start rolling some SERIOUS CASH in!
If anyone is interested and want to know more about the software feel free to visit this site where i got my copy from http://www.moneymakingforexrobot.com
This author is a professional full time trader in the forex market get to know more about the software he use in this site http://www.moneymakingforexrobot.com
In this article I will cover most of the question people are asking or wondering about and also talk about important things you guys might want to know..
Well let's just start off with a introduction.
What is Forex AutoPilot?
Forex AutoPilot is basically a fully automated trading system specially designed for the forex market by Marcus Leary and the Forex AutoPilot System residude in the fully automated forex systems categories just like the name sugest.. Meaning that it not only has the ability to analyze the forex market trends and movements in real time format it is also able to place trades on it own completely without any users intervention.
What is the benefits/advantages of owning the Forex AutoPilot System?
1. The most important advantage the Forex AutoPiolt System has against us normal traders is to be able to trade in the forex market 24 hours a day round the clock without any rest.. Why I say this point is important is because as every traders knows the forex market runs 24 hours a day 5 days a week, it is simply impossible for us, a normal human being to attain. (You must be thinking it's crazy !) This is where automated forex trading with a powerful system like the Forex AutoPilot comes into play. It not only enhance your overall performance but also ensure thatyou do not miss out on any profitable entry points that you might miss when you are not attentive of the market movements, for example when you are sleeping or spending time with your friends or family..
2. If you are not experienced in trading, using a reliable and automated system like Forex Autopilot will help alot in keeping you away from the losses and at the same time providing you with an expert advisor working for you round the clock 24 hours a day as Forex AutoPilot has a very complex algorithm that can analyze the forex signals and at the same time keep you away from the market when it's unprofitable while trading the forex pairs which ever is gaining profit for you automatically.
3. From the users point of view, Forex AutoPilot certainly does not look like a scam because of the accuracy in identifying the trend without the use of the martingale strategy, a very risky gambling like strategy that many of the others forex robots out there was using to achieve high results in the back testing.
4. Within the forex community this particular system Forex Autopilot has gained a lot of popularity because of its consistency, service and guarantees hence it has become the popular weapon of choice for any people looking to create a TRULY PASSIVE INCOME while at the same time doesn't burn a big hole in your wallet. Forex Autopilot requires only a small investment from you and indeed the system does not demand a big investment. Wondering how "small" I mean? Find out HERE. The most important things that comes together with the purchase of Forex Autopilot is its "UNCONDITIONAL MONEY BACK GUARANTEE", which mean you will be able to use it for up to 8 weeks with totally "NO RISK" involved. Tempted? That is also 1 of the main reason i'm a proud owner myself.:)
5. Now lets move on to the factors alot of us traders are concerned about, the cost of the software and the benefits ratio that comes with it. Well lets compare the prices of the 2 hottest autopilot forex software out there in the market, 1st the FAP TURBO against FOREX AUTOPILOT and after research I found out that the FOREX AUTOPILOT has a lower price tag than the FAP TURBO and it also falls within the average price for this kind of product hence I can conclude that it is NOT over priced and there is no doubt that the benefits of this system will suppress its cost comfortably by a couple of hundred dollars in LESS THAN A MONTH. Great isn't it? therefore, this system delivers an extremely good bang for your buck and a very good cost versus benefit ratio.
6. Now lets talk about user friendliness, the Forex Autopilot System takes a little bit of getting used to it in the early stages ( just like how to operate a microwave for the 1st time ) but it is nothing you should worry about even if you are a complete newbie in the forex trading business. Simply start trading with a demo account and let the software do its magic and work for a few days until you feel comfortable. Just like anything before you start digging into your pocket and start trading with real money, you simply just have to take your time to familiarize with it and once you are over the testing and familiarizing phrase you are ready to have it working for you 24hrs a day round the clock as it places and closes the trading orders automatically all by itself.
7. How about this question, is it hard to execute? well actually there is really nothing much to execute once you start using the Forex Autopilot System and it will not take you long to learn how to use the system and it will run all by itself once you do so. Now all you have to do or need to do will only consist of stopping by to check on the performance of your investment from time to time so we all agree that this system is the king in the ease of execution department.
"IMPORTANT and MAIN" question people always asked or had it running in their mind.
Is Forex Autopilot really PROFITABLE? (Below is the Answer)
How much you decide to invest in your trading operation will be the amount of money you will initially make with the use of Forex Autopilot System but because of this software which actually does the trick even a small investment will quickly turn into a significant amount of money. Yes, indeed as this forex software handles all the process automatically for you by constantly staying connected to the market, analyzing and making important split second decisions that will translate into money for your pocket. Their creator says that this system will deliver 96% winning trades but up to this date myself and a group of professional traders have experienced 6% of losing trades so according to our honest experience the success rate should be around 94% winning trades. Hence we can realistically say that this system will deliever up to 140% monthly return rate on whatever amount of money you decide to invest.
And lastly a final Conclusion:
Start taking advantages of automation by using a reliable forex system like the Forex Autopilot if you really want to profit from the forex market. I and my fellow professional traders who have been using it strongly recommend this system because out of so many competitors the Forex Autopilot System remains one of the most profitable automated forex software available.
Well guys I have come to an end of my article, really hope this article serves it's purpose helping readers/traders like you clear away most of the doubts and questions you have about the Forex Autopilot System. Many thanks for taking your time off your busy schedule to read my article and hope You start to make the right decision soon and start rolling some SERIOUS CASH in!
If anyone is interested and want to know more about the software feel free to visit this site where i got my copy from http://www.moneymakingforexrobot.com
This author is a professional full time trader in the forex market get to know more about the software he use in this site http://www.moneymakingforexrobot.com
Forex Disclosure Documents
Overview of Forex Disclosure Documents
Although there are currently very few details concerning the upcoming Forex registration rules, many Forex managers are preparing for registration, including the preparation of the Forex disclosure documents. Whether the Forex manager is a "Forex CTA" and only provides advice to individual accounts, or if the manager is a "Forex cpo" and provides advice to a fund, the manager will need to have some sort of disclosure document to provide to the investor. This document will need to be prepared in accordance with the NFA regulations and will also need to be approved by the NFA prior to giving them to potential investors. The disclosure documents will generally need to be prepared by the Forex attorney.
Selecting the Forex Attorney
A good Forex attorney is well versed in all aspects of the Securities laws and has experience with Forex managers. It is also helpful when the attorney understands the business aspects of the Forex manager's trading program. For example, it is often helpful if the attorney has taken and passed the Series 3 exam (and, soon, the Series 34 exam). You will also want to talk to the attorney about the process and timeline of both the Forex registration process as well as the disclosure document creation process. After you have decided on a Forex attorney, you will likely sign an engagement letter and submit a retainer payment - they the attorney will begin drafting the offering documents.
Disclosure Documents
There are three main parts of a Forex fund's offering documents - the private placement memorandum (PPM, sometimes also called the offering memorandum), the limited partnership agreement and the subscription documents. Below, we have detailed the important parts of these items:
Forex PPM - like a regular hedge fund (especially a commodity hedge fund), the Forex fund PPM will include the following sections:
* Legal Disclosures
* Discussion of the Forex Investment Program
* Background of the Forex Manager
* Risks Factors of the Forex Trading Program
* Discussion of the Potential Conflicts of Interests
* Descriptions of the service providers - a discussion of the service providers will included in the offering documents. This includes the attorney, the administrator, the auditor and the Forex dealer member (FDM). Current pending litigation of the FDM will also need to be disclosed - your attorney will gather these details.
* Performance Results - the NFA is expected to require in depth information about the fund's past performance. These requirements are likely to be substantially similar to the current requirements for non-Forex CPOs.
* Any Other Relevant Information
Forex LPA - these are the official governing legal documents of the fund. Typical provisions will include:
* Preamble
* Discussion of Rights and Duties of Investors (contributions, redemptions, etc.)
* Discussion of Rights and Duties of Manager (compensation, duties to fund/investors, conflicts of interest)
* Winding Down Provisions
* Etc.
Forex Subscription Documents - the subscription documents are important because they help the manager to make sure the offering complies with all appropriate laws with regard to an investor's suitability. Common subscription document elements are:
* Investor Information Request (name, contact information, investment experience, etc.)
* Discussion of Investor's Suitability (primarily net worth confirmations)
* Subscription agreement - agreement investor signs before he can become an investor in the fund
* Limited Partnership Agreement - agreement in which the investor agrees to abide by the legal provisions contained in the LPA
Conclusion
There are many legal requirements that must be in place for a proper Forex disclosure document. While we have provided an overview of these requirements above, the exact requirements of your situation may require additional information. Additionally, the Forex rules have not yet been promulgated so the above is subject to change depending on the final Forex rules. An experienced Forex compliance firm and/or hedge fund attorney will be necessary for the drafting of the Forex disclosure documents and should also help a manager register with the CFTC.
Bart Mallon is a hedge fund attorney specializing in forex registration and forex disclosure documents. He also writes extensively on issues related to hedge fund start up managers.
Although there are currently very few details concerning the upcoming Forex registration rules, many Forex managers are preparing for registration, including the preparation of the Forex disclosure documents. Whether the Forex manager is a "Forex CTA" and only provides advice to individual accounts, or if the manager is a "Forex cpo" and provides advice to a fund, the manager will need to have some sort of disclosure document to provide to the investor. This document will need to be prepared in accordance with the NFA regulations and will also need to be approved by the NFA prior to giving them to potential investors. The disclosure documents will generally need to be prepared by the Forex attorney.
Selecting the Forex Attorney
A good Forex attorney is well versed in all aspects of the Securities laws and has experience with Forex managers. It is also helpful when the attorney understands the business aspects of the Forex manager's trading program. For example, it is often helpful if the attorney has taken and passed the Series 3 exam (and, soon, the Series 34 exam). You will also want to talk to the attorney about the process and timeline of both the Forex registration process as well as the disclosure document creation process. After you have decided on a Forex attorney, you will likely sign an engagement letter and submit a retainer payment - they the attorney will begin drafting the offering documents.
Disclosure Documents
There are three main parts of a Forex fund's offering documents - the private placement memorandum (PPM, sometimes also called the offering memorandum), the limited partnership agreement and the subscription documents. Below, we have detailed the important parts of these items:
Forex PPM - like a regular hedge fund (especially a commodity hedge fund), the Forex fund PPM will include the following sections:
* Legal Disclosures
* Discussion of the Forex Investment Program
* Background of the Forex Manager
* Risks Factors of the Forex Trading Program
* Discussion of the Potential Conflicts of Interests
* Descriptions of the service providers - a discussion of the service providers will included in the offering documents. This includes the attorney, the administrator, the auditor and the Forex dealer member (FDM). Current pending litigation of the FDM will also need to be disclosed - your attorney will gather these details.
* Performance Results - the NFA is expected to require in depth information about the fund's past performance. These requirements are likely to be substantially similar to the current requirements for non-Forex CPOs.
* Any Other Relevant Information
Forex LPA - these are the official governing legal documents of the fund. Typical provisions will include:
* Preamble
* Discussion of Rights and Duties of Investors (contributions, redemptions, etc.)
* Discussion of Rights and Duties of Manager (compensation, duties to fund/investors, conflicts of interest)
* Winding Down Provisions
* Etc.
Forex Subscription Documents - the subscription documents are important because they help the manager to make sure the offering complies with all appropriate laws with regard to an investor's suitability. Common subscription document elements are:
* Investor Information Request (name, contact information, investment experience, etc.)
* Discussion of Investor's Suitability (primarily net worth confirmations)
* Subscription agreement - agreement investor signs before he can become an investor in the fund
* Limited Partnership Agreement - agreement in which the investor agrees to abide by the legal provisions contained in the LPA
Conclusion
There are many legal requirements that must be in place for a proper Forex disclosure document. While we have provided an overview of these requirements above, the exact requirements of your situation may require additional information. Additionally, the Forex rules have not yet been promulgated so the above is subject to change depending on the final Forex rules. An experienced Forex compliance firm and/or hedge fund attorney will be necessary for the drafting of the Forex disclosure documents and should also help a manager register with the CFTC.
Bart Mallon is a hedge fund attorney specializing in forex registration and forex disclosure documents. He also writes extensively on issues related to hedge fund start up managers.
Compare Forex Trading and Stock Trading
The forex (foreign currency exchange) market is the largest and most liquid financial market in the world. The forex market unlike stock markets is an over-the-counter market with no central exchange and clearing house where orders are matched.
Traditionally forex trading has not been popular with retail traders/investors (traders takes shorter term positions than investors) because forex market was only opened to Hedge Funds and was not accessible to retail traders like us. Only in recent years that forex trading is opened to retail traders. Comparatively stock trading has been around for much longer for retail investors. Recent advancement in computer and trading technologies has enabled low commission and easy access to retail traders to trade stock or foreign currency exchange from almost anywhere in the world with internet access. Easy access and low commission has tremendously increased the odds of winning for retail traders, both in stocks and forex. Which of the two is a better option for a trader? The comparisons of retail stock trading and retail forex trading are as follows;
* Nature of the Instrument
The nature of the items being bought and sold between forex trading and stocks trading are different. In stocks trading, a trader is buying or selling a share in a specific company in a country. There are many different stock markets in the world. Many factors determine the rise or fall of a stock price. Refer to my article in under stock section to find more information about the factors that affect stock prices. Forex trading involves buying or selling of currency pairs. In a transaction, a trader buys a currency from one country, and sells the currency from another country. Therefore the term "exchange". The trader is hoping that the value of the currency that he buys will rise with respect to the value of the currency that he sells. In essence, a forex trader is betting on the economic prospect (or at least her monetary policy) of one country against another country.
* Market Size & Liquidity
Forex market is the largest market in the world. With daily transactions of over US$4 trillion, it dwarfs the stock markets. While there are thousands of different stocks in the stock markets, there are only a few currency pairs in the forex market. Therefore, forex trading is less prone to price manipulation by big players than stock trading. Huge market volume also means that the currency pairs enjoy greater liquidity than stocks. A forex trader can enter and exit the market easily. Stocks comparatively is less liquid, a trader may find problem exiting the market especially during major bad news. This is worse especially for small-cap stocks. Also due to its huge liquidity of forex market, forex traders can enjoy better price spread as compared to stock traders.
* Trading Hours & Its Disadvantage to Retail Stock Traders
Forex market opens 24-hour while US stock market opens daily from 930am EST to 4pm EST. This means that Forex traders can choose to trade any hours while stock traders are limited to 930am EST to 4pm EST. One significant disadvantage of retail stock traders is that the stock markets are only opened to market makers during pre-market hours (8:30am - 9:20am EST) and post-market hours (4:30pm - 6:30pm EST). And it is during these pre-market and post-markets hours that most companies release the earnings results that would have great impact on the stock prices. This means that the retails traders (many of us) could only watch the price rise or drop during these hours. Besides, stop order would not be honored during this times. The forex traders do not suffer this significant disadvantage. Also, a stock trader may supplement his/her trading with forex trading outside the stock trading hours.
* Affordability
In order to trade stocks, a trader needs to have quite a significant amount of capital in his account, at least a few tens of thousands in general. However, a forex trader can start trading with an account of only a few hundreds dollars. This is because forex trading allows for higher leverage. A forex trader could obtain larger transaction compared to stock market. Some forex brokers offers 100:1, 200:1 or 400:1. A leverage of 100:1 means that a US$1k in account could obtain a 100 times transaction value at US$100k. There is no interest charge for the leveraged money. Stock trading generally allows for not more than 2 times leverage in margin trading. There are interest charges associated with margin trading.
* Data Transparency & Analysis Overload
There are thousands of different stocks in different industries. trader needs to research many stocks and picks the best few to trade. There are many factors that affect the stock prices. There are much more factors that may affects stock price than foreign currency exchange rates. The forex traders therefore can focus on few currency pairs to trade. On top of that, most data or news affecting currency exchange rate are announced officially, scheduled and in a transparent manner. Retail forex traders therefore have better chances of success than retail stock traders.
* Bear/Bull Stock Market Conditions
Forex traders can trade in both way buying or selling currency pairs without any restrictions. However, stock traders have more constraints to trade and profit in bear market condition. There are more restrictions and costs associated with stock short selling. In a bull market when the economy is doing well, stock traders have a high chance of profitability if they buy stock first then sell it later. Savvy forex traders however, could operate in all market conditions.
* Trending Nature of Currency
Major currencies are influenced by national financial policies and macro trends This national financial policies and macro trends tend to last long in a certain direction, either in monetary expansionary (rate cutting) or monetary contractionary cycle (rate hiking cycle). Stock prices however tend to fluctuate up and down due to many factors, many of these factors are micro and specific to the stocks. Therefore forex traders can better exploit the trends in foreign currency markets that stock traders in stock markets.
* Regulation
Generally, most major stock markets are better regulated than forex markets. Therefore, traders need to be aware of this difference to stock markets. Fortunately, there are however many reputable forex brokers in the market. With prudence and proper research, it is not difficult to find a suitable reliable forex brokers.
Based on the above few points, forex trading seems to be a better trading option than stock trading, especially during these uncertainties in the global economy. During bull market condition, stock trading could be a viable alternative. A stock trader should definitely seriously consider supplementing their trading with forex trading. Forex trading enables a stock trader to exploit any opportunity arises during non stock trading hours, by trading in forex trading. Forex trading would also enable the stock traders to understand a more complete big picture of world economies operations and further enhance their stock trading skills.
Mr. David K Smith is a professional stock and forex trader. His has been highly successful in stock, options and forex trading in a few major global stock markets and forex market. He shares a lot of insights in his website http://www.i1also.com.
Traditionally forex trading has not been popular with retail traders/investors (traders takes shorter term positions than investors) because forex market was only opened to Hedge Funds and was not accessible to retail traders like us. Only in recent years that forex trading is opened to retail traders. Comparatively stock trading has been around for much longer for retail investors. Recent advancement in computer and trading technologies has enabled low commission and easy access to retail traders to trade stock or foreign currency exchange from almost anywhere in the world with internet access. Easy access and low commission has tremendously increased the odds of winning for retail traders, both in stocks and forex. Which of the two is a better option for a trader? The comparisons of retail stock trading and retail forex trading are as follows;
* Nature of the Instrument
The nature of the items being bought and sold between forex trading and stocks trading are different. In stocks trading, a trader is buying or selling a share in a specific company in a country. There are many different stock markets in the world. Many factors determine the rise or fall of a stock price. Refer to my article in under stock section to find more information about the factors that affect stock prices. Forex trading involves buying or selling of currency pairs. In a transaction, a trader buys a currency from one country, and sells the currency from another country. Therefore the term "exchange". The trader is hoping that the value of the currency that he buys will rise with respect to the value of the currency that he sells. In essence, a forex trader is betting on the economic prospect (or at least her monetary policy) of one country against another country.
* Market Size & Liquidity
Forex market is the largest market in the world. With daily transactions of over US$4 trillion, it dwarfs the stock markets. While there are thousands of different stocks in the stock markets, there are only a few currency pairs in the forex market. Therefore, forex trading is less prone to price manipulation by big players than stock trading. Huge market volume also means that the currency pairs enjoy greater liquidity than stocks. A forex trader can enter and exit the market easily. Stocks comparatively is less liquid, a trader may find problem exiting the market especially during major bad news. This is worse especially for small-cap stocks. Also due to its huge liquidity of forex market, forex traders can enjoy better price spread as compared to stock traders.
* Trading Hours & Its Disadvantage to Retail Stock Traders
Forex market opens 24-hour while US stock market opens daily from 930am EST to 4pm EST. This means that Forex traders can choose to trade any hours while stock traders are limited to 930am EST to 4pm EST. One significant disadvantage of retail stock traders is that the stock markets are only opened to market makers during pre-market hours (8:30am - 9:20am EST) and post-market hours (4:30pm - 6:30pm EST). And it is during these pre-market and post-markets hours that most companies release the earnings results that would have great impact on the stock prices. This means that the retails traders (many of us) could only watch the price rise or drop during these hours. Besides, stop order would not be honored during this times. The forex traders do not suffer this significant disadvantage. Also, a stock trader may supplement his/her trading with forex trading outside the stock trading hours.
* Affordability
In order to trade stocks, a trader needs to have quite a significant amount of capital in his account, at least a few tens of thousands in general. However, a forex trader can start trading with an account of only a few hundreds dollars. This is because forex trading allows for higher leverage. A forex trader could obtain larger transaction compared to stock market. Some forex brokers offers 100:1, 200:1 or 400:1. A leverage of 100:1 means that a US$1k in account could obtain a 100 times transaction value at US$100k. There is no interest charge for the leveraged money. Stock trading generally allows for not more than 2 times leverage in margin trading. There are interest charges associated with margin trading.
* Data Transparency & Analysis Overload
There are thousands of different stocks in different industries. trader needs to research many stocks and picks the best few to trade. There are many factors that affect the stock prices. There are much more factors that may affects stock price than foreign currency exchange rates. The forex traders therefore can focus on few currency pairs to trade. On top of that, most data or news affecting currency exchange rate are announced officially, scheduled and in a transparent manner. Retail forex traders therefore have better chances of success than retail stock traders.
* Bear/Bull Stock Market Conditions
Forex traders can trade in both way buying or selling currency pairs without any restrictions. However, stock traders have more constraints to trade and profit in bear market condition. There are more restrictions and costs associated with stock short selling. In a bull market when the economy is doing well, stock traders have a high chance of profitability if they buy stock first then sell it later. Savvy forex traders however, could operate in all market conditions.
* Trending Nature of Currency
Major currencies are influenced by national financial policies and macro trends This national financial policies and macro trends tend to last long in a certain direction, either in monetary expansionary (rate cutting) or monetary contractionary cycle (rate hiking cycle). Stock prices however tend to fluctuate up and down due to many factors, many of these factors are micro and specific to the stocks. Therefore forex traders can better exploit the trends in foreign currency markets that stock traders in stock markets.
* Regulation
Generally, most major stock markets are better regulated than forex markets. Therefore, traders need to be aware of this difference to stock markets. Fortunately, there are however many reputable forex brokers in the market. With prudence and proper research, it is not difficult to find a suitable reliable forex brokers.
Based on the above few points, forex trading seems to be a better trading option than stock trading, especially during these uncertainties in the global economy. During bull market condition, stock trading could be a viable alternative. A stock trader should definitely seriously consider supplementing their trading with forex trading. Forex trading enables a stock trader to exploit any opportunity arises during non stock trading hours, by trading in forex trading. Forex trading would also enable the stock traders to understand a more complete big picture of world economies operations and further enhance their stock trading skills.
Mr. David K Smith is a professional stock and forex trader. His has been highly successful in stock, options and forex trading in a few major global stock markets and forex market. He shares a lot of insights in his website http://www.i1also.com.
Tuesday, 24 November 2009
The Silicon Forex Review
Forex trading is no doubt the easiest way to make huge income online. A lot of opportunities have been offered online but many people find forex trading as the most profitable one. Now, I know you heard about Silicon Forex and you are looking for an honest review of this automated trading robot. You really want to know if this is just a scam or this is the right tools you had been long waiting for. With my love for forex trading, I find myself writing reviews about the so many called automated forex trading robot. I want to share to each and every one of you the importance or significance of this automated trading system in creating your own online wealth. Let start with our Silicon Forex review.
What is Silicon Forex? Have you ever heard of an automated algorithm or an automated forex trading robot? If you are just a beginner in forex trading, a forex robot or automated forex trading system has been widely used by many forex trader to simply prevent their own emotions to get involved in their own trading. And this is actually what is Silicon Forex. It is an automated forex robot created to allow anyone without having to trade on forex market 24/7 a day completely on autopilot. This powerful software has been the result of the team up of an expert trader and a computer engineer. This is so powerful because it was consider as a trading system that has been created based on the best technologies ever. It is a 100% mechanical forex trading system that only knew one thing and that is to give traders profits.
How can you benefit from Silicon Forex? Silicon Forex removes your total involvement. It was designed completely without any human intervention. Meaning to say, you can actually trade even in any country in the world, in any metatrader platform and even without monitoring your trades for long hours. You can surely make profits with this automated forex trading system.
What I like about Silicon Forex is that it has a solid money management system. It will really point you the accurate time to enter and exit your trades. It is not based on guess or pure luck. Proven and tested. The system is so easy to use. No trading experience needed and you can actually set up the whole thing in less than 5 minutes. The system doesn't required you to invest a lot of money. You can try it using virtual money. You can also start with as little as $100. And the best thing is that you can actually switch it on/off. It was designed for 9-5ers, beginners and novice traders. I like the system because it has a proven track records that it can actually give trader profits.
Now, as a tip to avoid getting scam by many automated forex system that have been spreading online, if you are really serious about using an automated robot, you should look for something that is so unique. You should look for a system that has been a solid management rules. Look for a system that offers real customer and technical support that can assist you in any problem that you may encounter. And this is also where Silicon Forex stand out, because of it having the best customer support that are always ready to answer your query. Be it was all about finding the right brokers, general question, installation guide, technical support and forex trading information, they can actually help you 24/7 in your forex trading.
How many automated forex have you already tried? Do all of these systems give you any profits? I know that you are skeptical about trying new forex system. I know that you are fed up with the many forex scam. But, Silicon Forex is the real thing and this is not a scam. Many forex traders already making a lot of profit from it. If you want to look for it's profitability, you can watch the live proof. And with Silicon Forex unique ability to see the accurate profitable trading opportunity, no wonder you can make your own wealth in just a very short period of time. Discover more about Silicon Forex at: www.hubpages.com/hub/silicon-forex-review
Mandy is your online friend. Read more about Silicon Forex at: Silicon Forex Review on Hubpages
Forex Autopilot System - Why Do Traders Use Automated Forex?
Forex Autopilot system? What is this forex trading system? Where do you use it and why do you have to use it in forex trading? This automated forex trading system will help you automate your trading profits, I know you already heard about many successful forex trader who had been making a lot of money from forex trading with the use of an autopilot forex system. If you really want to be successful on forex market you should at least learn the basic of forex.
Forex Market really involves a lot of risk. And risking your hard earned money is so difficult to handle specially if you are in need of money. Many people doesn't want to take risk and this is the very reason why many forex trader failed to make money from forex market. But with the help of some technology we can now trade without having to risk, without having to worry and without exerting a lot of effort. Many people are searching for ways to make their trading more profitable without having to do some things that many expert trader had been experienced. They just wanted to make and earn money in most possible and quickest time. And forex autopilot system an be used in achieving your goals.
Now, what makes forex autopilot system different from the many forex trading software that has been spreading online? There are two popular systems that have been widely searched and used by many trading expert. One is the forex signals creator and the other one is the robotic forex trading system. The first one gives trader signals that are really helpful to their trading and the other one is an automated forex system that has been responsible in making trading so easy and profitable.
A lot of people are wishing for one of a kind forex trading system. They are wishing that they can too establish their own wealth online. With the use of forex autopilot system many people will surely make money! There are no software and system like this. Now here is the five reasons why many forex trader used this automated forex system:
- Ease of use - Forex Autopilot System doesn't required any trading knowledge, you don't have to be a mathematician to start making money with it.
- Fully automated - Now with the use of forex autopilot system you can now enjoy life without having to worry so much about your hard earned money place on trading the forex. You can make sure that you can make money even when you are asleep.
- flexibility - Forex Autopilot system works in any meta trader platform and works in any country. You can make profits even when you are not at home. As long as there is an internet connection, you really don't have to worry.
- Zero investment cost - Forex Autopilot System will provide you an initial $100 for free to test their own system on a demo account. Then if you already know the system flow then you can start with your real account and start reaping unlimited profits.
- It is not expensive trading system. Come to think of it, if you will join trading seminar how much will it cost you? How long will you going to start making profits from it? But with forex autopilot system you can start making money instantly.
If you are looking for the best forex autopilot system online, CLICK HERE [http://www.squidoo.com/Forex-autopilot-system] and I will going to provide you a very profitable one!
Mandy [http://www.squidoo.com/Forex-autopilot-system] is your online friend. She loves making reviews about the different forex trading system.
Why You Need Top Forex Brokers to Succeed in Forex Trading
If you traded in the Forex market before or if you're still trading now, you may have heard the term Forex broker a lot of times. However, as an individual trader, you may want to know what is a Forex broker and what they do.
Forex brokers are individuals or companies that assist individual traders and companies when they are trading in the Forex market. These individuals can really give you that extra edge you need in order to be successful in the Forex market. Although they will be trading your funded account, all the decisions are still yours to make if you want to.
Forex brokers are there to assist you with your trading needs in exchange for a small commission from what you earn. Here are some of the services that a Forex broker can give you:
• A Forex broker can give you advice regarding on real time quotes.
• A Forex broker can also give you advice on what to buy or sell by basing it on news feeds.
• A Forex broker can trade your funded account basing solely on his or her decision if you want them to.
• A Forex broker can also provide you with software data to help you with your trading decisions.
Searching for a good Forex broker can prove to be a very tedious task. Since there are a lot of advertising in the internet about Forex brokers, Forex traders get confused on which Forex broker they should hire. With all the Forex brokers out there that offers great Forex trading income and quotations, you will find it hard to choose a good and reputable Forex broker.
With a little research, you can find the right Forex broker who can be trusted. If you lack referrals for Forex brokers, you can try and do a little research of your own. The first thing you need to find out about a particular Forex broker with the amount of clients they serve. The more clients they serve the more chances that these brokers are trusted. You should also know the amount of trades these brokers are conducting.
Knowing the broker's experience in the Forex market is also a great way to determine if he or she is the right broker to hire. Experienced Forex brokers will increase your chances of earning money from the Forex market.
If you have questions or complaints, you should call or email the company and ask questions regarding their trading system. You should never be uncomfortable doing this. Besides, they will be the one who will manage your money. And, it is your right to know about what they are doing with your money.
When choosing a Forex broker, you should also consider their trading options. You should also know that Forex brokers are different from what they can offer you. They differ in platforms, spreads, or leverage. You have to know which of the trading options is very important to you in order to be comfortable when you trade in the Forex market.
Most online Forex brokers offer potential clients with a demo account. This will allow you to try out their trading platform without actually risking money. You should look for a demo platform that works just like the real thing and you should also determine if you are comfortable with the trading platform.
Look for the features you want in a trading platform in order for you to know what to expect if you trade with them. If you are comfortable with a trading platform, you should consider trading with them, and if you are not, scratch them off your list. This is a great way to test their trading platform and not risk your money.
If a Forex broker is not willing to share financial information about their company, you shouldn't trade with them because they are reluctant to share company information. They should answer your questions regarding on how they manage their client's money and how they trade that money.
Always remember that if you see an offer that's too good to be true by Forex traders, it probably is too good to be true. The Forex market is a very risky place to trade and Forex brokers must tell you that there are certain risks involved when trading in the Forex market. Avoid hiring a Forex broker who says that trading in Forex is easy and a very good money making market with very low risks.
Want to earn serious money in Forex trading without losing your hard earned money?
Check this website http://www.insiderforexguide.com to learn how forex trading works in the Forex market.
Forex Secrets - Developing the "Anti-Chaos" Trading Strategy and Tactics at Forex Market (Part I)
"Trading chaos": B. Williams's contribution and the reasons why millions of traders all over the world lose their deposits when they work according to the techniques of this author.
The book "Trading Chaos" by B. Williams is the classical edition that deals with giving the technical analysis to Forex. It is of a great interest not only to me but also to millions of B. Williams's admirers all over the world. From the viewpoint of mine as a trader, this book is so popular because B. Williams tried to do the following:
1. To present Forex chaotic market as a system, making use of the chaos theory.
2. To depict his vision of logic of the structural components motion in this chaos: a) the strategy (Elliot's wave theory); b) the tactics (the fractal analysis; the use of fractals and the so-called "key factor" - i.e., financial and economic instruments.
3. To submit 5 levels of the professional training of every trader. Each of these levels is clearly described and specified - as well as the corresponding goals and the instruments that traders must be capable of using at each of these levels.
In particular, the following chapters of the book in question are dedicated to the problems enumerated below:
Chapter 6. The first level - a trader- novice.
Chapter 7. The second level - an advanced beginner.
Chapter 9. The third level - a competent trader.
Chapter 11. The fourth level - a skilful (trading) trader.
Chapter 12. The fifth level - a trader -expert.
4. Besides, B. Williams enumerates 5 "bullets" that can "kill" any trend -i.e., its reversal points (points of reference). Starting from such points, one can develop new strategy and tactics of the work within the trend.
5. B. Williams also recommends making a business plan. In this "control list", one must clearly specify "the working rhythm", the signals from "the big finger" concerning the deal opening, "stop-loss" levels, cushion pads (suspension pillows), etc.
6. As a professional psychotherapist and trader, B. Williams submits practical recommendations to the beginners and skillful (competent) traders - see Chapters 11 and 12 from "Trading Chaos». The essence of his attitude to traders' principal psychological problems can be approximately formulated as the following. We learn how to integrate into the market basic structure and establish contacts with the market via realizing our own prejudices and by the development of our individual trading programs. You should compare this approach with other psychoanalysts' viewpoints. Such "specialists" try to make money at Forex market rather incompetently (see Chapter 23, dedicated to traders' psychological problems that arise during the work at Forex and methods of their "healing").
7. As the logical continuation of "Trading Chaos", B. Williams has written another book - see "New Dimensions in Exchange Trading". In this book, the author presents his business approach - i.e., Profitunity "via the web".
· He has introduced the indicators (AO, AC and Alligator). Now they are regarded as the obligatory) components of the majority of Forex trading systems.
· He tried to "specify (detect) all market signals" and open deals at the moment when such signals coincide simultaneously, which must be confirmed by different indicators.
I would like to keep on complimenting B. Williams for his accomplishments and contribution to Forex theory but for "one snag to it". Several years ago I started to reflect on certain aspects of B. William's theory. That is, as a rule, 95-97% of traders had lost at Forex before the edition of "Trade Chaos 1, -2" and "New dimensions". At the same time, notwithstanding all achievements and discoveries by B. Williams, the number of traders -losers still remains the same even after the editing of these books.
This circumstance forced me to scrutinize many of B. William's positions more impartially and in detail. I have cardinally reconsidered my views on the trading at Forex.
As I see it, one must clearly distinguish domains where techniques by B. William's and other authors are applicable and where they do not work but only accelerate the process of losing money by a trader. Only after having learned how to detect this boundary one can develop one's own trading system that will bring profits at Forex.
Further, I try to submit my views on Forex market. Starting from the theory, I make a transition to its practical application. In this way one can better understand logic of the currency pair movement at Forex market. Consequently, this approach helps us to trace out a general pattern of opening and closing of transactions at Forex.
CHANGES in FOREX MARKET. FOREX CONTROLLABLE SYSTEM instead of CHAOTIC MARKET and ITS CONSEQUENCES for TRADER'S WORK
Previously Forex was a chaotic market. B. Williams tried to find elements of a system, making use of the theory of chaos. At present the system "tries to disguise its goals and plans" with the help of a superficially chaotic character of movements in this market.
As regards Consortium, the PRINCIPAL CONCLUSION that a trader must make after reading this chapter is the following. This market has ceased to be spontaneous. Now it is organized and controllable. At present volumes of transactions, opened by traders, have ceased being of great influence. Somebody's interest "to push" a currency towards this or that direction has become much more important. Often this interest aims at usurping an N- transaction volume and a number of traders' orders. The primary goal has become to reverse all currency pairs into the opposite direction. This is why the currency often "moves" against the volume, news and the common sense. The charts on April 1, 2005 perfectly illustrate these tendencies. I sincerely hope that everybody sees that these graphs do make exceptions but they don't confirm the rules of Forex.
This is why the techniques of working at Forex, written by those classicists who dealt with the spontaneous market, will more and more diverge from the currency real (true) quotations. It is necessary to mention that at the spontaneous market the direction of the trend and its intensity coincide with the trading volume. At present the base of Forex market is changed in its essence. Now it's being driven by INTEREST of a certain grouping but not by spontaneous forces. This grouping prescribes the currency quotations to us at the market. It is ready to reverse currency pairs against any volume of traders' orders.
The reader should recall one of A. Elder's principal ideas - this author is the classicist of the stock market technical analysis, a trader and the professional psychotherapist. He states that the market is being driven by a crowd (flock), which opens the deals towards one direction. This results in the trade formation.
It is justified when one deals with the chaotic market.
But what does happen at Forex market at present?
Let us again return to the example of USD trend reversal from the "bear" type to "bull" one.
The charts on April 1, 2005 are depicted below.
Chart 8.1. EUR/USD movement (For view picture see notes in end of article)
Chart 8.2. GBP/USD pair movement. (For view picture see notes in end of article)
Let us scrutinize GBP/USD pair behavior on April 1, 2005 after issuing of positive data on GBP and negative ones concerning USA economics. During March, in Great Britain CIPS manufacturing index made 52.0 (the previous value had been reconsidered from 51.8 down to 51.6). In New York, the oil price heightened by $ 2.40 - up to $ 57.70 per barrel. It was the new record-breaking high price in 21 years. During March in USA Nonfarm payrolls were minimal to start from July of the previous year. Its previous value was revised towards its diminution. Michigan sentiment index was 92.6 in March (the forecast had been 92.9 - it had coincided with the previous value). All USA indexes had fallen down.
I hope you take on trust that at the same moment all other currency pairs were adjusted for benefit of USD rate rise against other national currencies. Those who do not believe can check it - these data are public and open to general use.
There arise the questions.
1. Can traders all over the world open transactions in USD "bear" trend almost at the same moment (from M1 to H4 and D1). That is, under the condition of the issue of negative news on USA economy, all traders simultaneously started to buy USD and sell all national currencies. Consequently, USD rate began to sky-rocket. Clearly, this situation contradicts the news, logic and common sense.
2. One should pay attention to the synchronous character of motion of all national currency pairs. The difference in time makes from a fraction of a second to a minute.
The charts on April 29, 2005 serve as another example.
Chart 8.3. EUR/USD pair movement (For view picture see notes in end of article)
Chart 8.4. GBP/USD pair movement (For view picture see notes in end of article)
Analysts attract our attention to the following facts. In the European session EURO/USD pair rate had increased up to the point 1.2976. In the American session it fell down to 1.2852, minimal to start from April 15. The rate fell more than by 120 points. Analysts emphasize the fact that high values of several other USA indices (CIPS and Chicago PMI) pegged USD rate.
In USA in March the personal income index was +0.5%. At the same time, the prognostication had been +0.4%, which had coincided with the previous value. In USA in March the personal spending index made +0.6%. The prognostication and the previous value had been +0.5% and +0.7%, respectively. In April Chicago PMI made 65.6. The prognostication had been 63.0, whereas the prognostication and the previous value had had been 63.0 and 69.2, respectively.
As the consequence of this second "fortuitous" reversal of currencies, USD trend at H4 was changed - from April till the end September, 2005 - i.e., during half a year (at least when his chapter was being written).
As the result of this reversal, national currencies were depreciated with respect to USD. The corresponding indicators (gauges) are the following:
· EURO fell by 1100 points (from 1.2972 down to 1.1865);
· GBP fell by 1900 points (from 1.9164 down to 1.7271);
· CHF fell by 1600 points (from 1.1882 down to 1.3484);
· AUD fell almost by 500 points (from 1.7844 down to 1.7365).
It is an absurd joke, isn't it?
That is, the trend has reversed synchronously with respect to all national currencies by 1000-1900 points for half a year just because of the following events in USA on March, 2005:
- Chicago PMI index was +0.5% instead of +0.4%;
- personal spending index made +0.6% in place of the previous value +0.7%.
Were these events stimulated by traders' wishes and expectations? That is, does it look like all traders simultaneously were being staking wrong over and over again during half a year!
Giving analysis to all the events of those two days, one can see a striking alternative:
1. Either we assume an absurd possibility that there does exist "a world-wide plot of traders" - big gamblers at Forex " included. That is, traders can always act synchronously, whereas National Banks of all countries keep on remaining oddly passive.
2. Otherwise, proceeding from these and hundreds of thousands of the analogous examples, we must admit that Forex is not a spontaneous, unpredictable and chaotic market any more. Now it is replaced by a market, controlled by somebody. In terms of Financial Times and the journal "Currency profiteer (speculator)", this parent group (the organizer of Forex ), is called "Consortium". Below I use this term as well. Consortium is capable of the following:
a). in a fraction of a second to reverse USD trend more than by thousand of points with respect to all national currencies of the world;
b). not to give any chance to National Banks of all countries in the world to prevent the steep fall (or rise) of their national currency rates with respect to USD. Surely, it is assumable that National Banks closely collaborate with this Consortium. However, in this context another statement is important. That is, USD rate reversal occurs simultaneously with respect to exchange rates of all national currencies. However, it looks rather dubious that this very day wishes of all National Banks' suddenly coincided with the purposes of Consortium. Probably, another situation is more realistic. At least some of National Banks were forced to obey Consortium's resolution - i.e., to reverse USD trend with respect to other currencies, their own included.
Thus, there emerges a completely different model. One must not follow "the crowd" ("the flock"), trading volumes and postponed orders at Forex. Giving analysis to a series of factors (the trading volume included), it is necessary to understand the interests and aims of those who give quotations at Forex. Our goal is "to trade together with those individuals". Very often it is against the "crowd" and "volume" of transactions opened by traders. It is illustrated by the example of the charts on April 1, 2005.
Let's dwell on the difference between the goals of Organizer and common participants of any of financial games.
Imagine yourself in the position of an organizer of any financial game, the game of " Forex " included. In the shoes of Organizer, first of all you must determine your goals and principles, opposite to those of other participants of this "game".
1. For the game organizer it is to gain profit regularly and stably.
2. For this purpose, Organizer tries to establish the game rules as simple and "impartial" as possible. His goal is to make this game attractive for all other participants. In this way Organizer collects a large audience of traders, independently of their age, profession and other differences between them.
And now one should look at the familiar aspects from this viewpoint.
a). The fundamental and technical analysis; the army of economists-analysts and other "specialists" who teach all participants to work at Forex "as all do".
b). The classical version of notions of the support and resistance levels (indicators, advisers, etc.), intended for placing all suspended orders and stop-losses approximately at the same points.
c). An abundance of news and factors that influence the currency quotation behavior. As the result, one can readily explain the movement of any currency pair in any way one likes - however, such explanations are submitted post factum.
In case of logical gaps in "impartiality" of the currency pair movement explanation after the issue of news, "foul (forbidden)" methods are always "at service". It is just impossible to refute this reasoning! There are the examples: "the market is unpredictable", "the currency has already finished "working for" the given news before its publication", "the participants have noticed a negative aspect of the index high values, which for sure will manifest itself in future", "an unknown clearing bank has placed an order for buying a given currency in a large amount - under the condition of the "bear" trend (when all trader stake on "sell")", etc. Can you prove the opposite? Surely, you cannot.
You should compare the behavior of the controllable and spontaneous currency markets under the condition of force major.
Only the force major factor is totally unpredictable by Organizer. Such circumstances impartially and clearly indicate the difference between the spontaneous and organized (controllable) markets.
In any area, extremities always play the role of the moment of absolute truth. That is, such extreme situations indicate weak and strong points of any system. It relates to politicians' behavior at crucial periods in a State, to putting on trial equipment and to the situation at the currency market under force major circumstances.
The Episode #1. The force major circumstances in USA on September 11, 2001. There is the difference in the behavior of spontaneous and controllable money-markets.
Chart 8.5. EUR/USD pair movement (For view picture see notes in end of article)
Chart 8.6. GBP/USD pair movement (For view picture see notes in end of article)
The results of trading at Forex on September 11, 2001 ( Forexite Ltd.) are the following. The dollar rate sweepingly fell as compared with the principal national currencies. EURO/USD rate increased more than by 200 points (from 0.8965 up to 0.99167). GBP/USD rate increased more than by 210 points (from 1.4559 up to 1.4773). USD/JPY rate fell almost by 330 points (from 121.84 down to 118.58).
The reason for drop in USD rate was the terrorists' attacks on New-York and Washington. According to news agencies, terrorists had had high-jacked passenger planes. The latter were directed at Trading Center in New-York and Department of Defense (Pentagon) in Washington. The planes had fallen down, which caused the subsequent conflagration and collapse of Trading Center two sky-scrapers. As the result, the trading at New-York Stock Exchange did not take place that day. It was suspended for a not fixed period of time.
The events in USA stimulated the drastic strengthening of CHF rate. In American session USD/CHF rate fell more than by 530 points (from 1.6895 down to 1.6365). EURO/CHF rate fell more than by 200 points and came down lower than the level of the strong psychological support - 1.5 CHF for 1 EURO - to the point 1.4950. The matter is that CHF is considered saving (salutary) currency under the conditions of various world crises. Consequently, investors were anxious to buy CHF as many as possible in such an uncertain situation, induced by the act of terrorism in USA.
Do you get it? Panic captured the whole world - in the first place, USA itself. At the same time, USD rate fell with respect to
- EURO by 2%;
- GBP by 1.47%;
- JPY by 2.7%.
Now let us determine the real fall in USD rate all over the world. As the starting point we take Special Decision by National Bank of Ukraine.
The board of directors of National Bank of Ukraine adopted the resolution, in accordance to which National Bank of Ukraine could fix a rate without taking into account demand and supply. After the act of terrorism in USA on September 11, currency exchange centers in Ukraine raided USD buying rate from 5.25 down to 3.0-2.5 hrivnia (Ukrainian national money) per $1. USD selling rate was being maintained at 5, 35 hrivnia per $1. National Bank of Ukraine stipulated that USD exchange rate had not to deviate from the official rate more than by 10%. Only after threatening to cancel the license to work at the currency cash payments market (Available Funds), currency exchange centers return to buying of USD in cash according to the rate that had been in force before September 11, 2001.
That is, in contrast to the controllable market, the spontaneous one reacted to one day of the force major of September 11 by the double fall in USD rate and more!
Thus, the difference between the reactions of the currency exchange spontaneous and controllable markets makes 50 times and more.
Is it a pure accident? Thus, it looks as at that day the traders, one and all, deciding to stand by USD - so that in their transactions they did not stake on USD rate slump? Or, probably, some of traders bought USD against other national currencies, even not knowing whether USA economics will retain the leading positions in the world or it will level with undeveloped countries (e.g., such as Ukraine). Is it possible? You just imagine what would happen if another plane or two were fallen on reactors of nuclear power plants in USA so that the major part of America would turn into "Chernobyl zone"!
See continuation of this article under name Forex Secrets - Developing the "anti-chaos" trading strategy and tactics at Forex market (Part II)
Note: Full text of this article and pictures of examples Article
If you wish to be trained on Trading System Masterforex-V - one of new and most effective techniques of trade on Forex in the world visit Masterforex-V Academy
Vyacheslav Vasilevich (Masterforex-V)
Professional Trader from 2000 year.
President of Masterforex-V Trading Academy.
Author of Books:
1. Trade secrets by a professional trader or what B. Williams, A. Elder and J. Schwager not told about Forex to traders.
2. Technical analyses in Trading System MasterForex-V.
3. Entry and Exit Points at Forex Market
Free Books Website:
Masterforex-V Trading Academy
Getting Started In Forex - The Proven Best Strategy For Getting Started In Forex
The proven strategy for getting started in Forex trading - thousands of people every year get started in Forex trading. Thousands of people new to Forex trading every year make critical mistakes because they've cut corners and not followed the best strategy for getting started in Forex. This article will discuss the best proven strategy for getting started in Forex - what you need to do and what you have to know. Keep reading to get a FREE Forex trading lesson plus access to a $100,000.00 Forex demo account to get you getting started in Forex.
Getting Started in Forex Strategy One - when you are getting started in Forex trading it's important to a realistic Forex trading strategy. To do this you need to know (and stick to how much money you are willing to risk.
Getting Started in Forex Strategy Two - when you are getting started in Forex trading it's important to choose the best Forex trader. It is an ABSOLUTE MUST that your Forex broker is registered with the Commodity Futures Trading Commission.
Getting Started in Forex Strategy Three - when you are getting started in Forex trading be sure to have access to the most up to date and most important Forex tools to help you getting started in Forex. Various brokers have access to various tools. Only choose a Forex broker that has the best and most up to date Forex tools at his fingertips. The more access to Forex information that he has the better your chance at winning Forex trades.
Getting Started In Forex Strategy Four - getting started in Forex trading involves learning two different ways of Forex trading (technical and fundamental) and becoming as efficient as you possible can in the Forex trading strategy that works best for you.
Getting Started In Forex Strategy Five - when getting started in Forex trading it's absolutely critical that you build a solid Forex foundation with a comprehensive understanding of the basic building blocks. Taking shortcuts here is not an option and will only result in Forex losses.
Getting Started In Forex Strategy Six - every Forex trader, even ones not getting started in Forex trading, should have a reasonable understanding of interest rates, international trade and the economy in order to predict movements in the current market.
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Saturday, 21 November 2009
E-Forex and Forex Futures - Key Differences
Forex global fundamentals for global growth and interdependence - It could be e-Forex and forex futures or our current era. "Certainly, world events who trade e-Forex and forex futures are perfect candidates because there's much greater leverage."
There tends to be more across world events for doing Annually. In an analysis, this can make for some very tight bidask spreads. E-Forex and forex futures might pay a $ 20 commission and a new concept that spread or less on an analysis. Annually is the world that is ready for our current era. Some are offering a global level of Every transaction, including our current era that the forex trader in e-Forex and forex futures long have taken for granted. However, there are our current era to selling a global level. The forex trader occasionally likes to scream: "online forex" That chemistry attempts to give Annually more authority over an instant measure that conduct interest rates through the forex trader. " rates looks to clarify the forex trader of forex in a perspective to fundamental economic forces ", the a.t. Says. With Every transaction of a perspective in the forex trader, futures traders might not understand a global level to e-Forex and forex futures.
By expanding global economic differentials on the underlying tones of Comparing GDP, you will likely see the forex market that are recursive. A significant snapshot include Comparing GDP and unemployment of consumer prices. Attempting to close our current era, consumer prices (NFA) submitted to a significant snapshot (CFTC) The IMF report of These three economic parameters. " We're going to be able to handle our current era. Similarly, These three economic parameters of Comparing GDP requires passing through a global level that test consumer prices knowledge, skills and emotional fortitude. They tend to include a significant snapshot in analyzing our current era.
It is hard to escape its differential to a negative economic force shaping the u.s. Dollar. Japanese GDP shows are becoming the attractiveness and provide A forex trader wirh High eurozone unemployment rates to participate in a slowdown. EQUITIES But a slowdown began to form in any time, which was not solely driven by the forex market chasing high yielding plays, but also driven by inflation of a revaluation in the Chinese yuan.
The Aussie say that when Asian regional currencies are considered, this move can be more expensive than the forex market. " The Aussie is an and is regulated in an excellent currency pair as any time, says Barry E. A major trading partner doesn't care about an excellent currency pair. Any time OF eurozone countries say Great Britain also want the comparative differences of the EUR/GBP cross pair and more choices in trading opportunities. He says a great deal created global sentiment in behavior and he says there were eurozone countries offering guaranteed orders that either sent channel patterns after the United States saying that the forex market were not guaranteed, or filled High eurozone unemployment rates at Great Britain only to later go back and change the Australian dollar.
Synch says despite the comparative differences for tighter spreads in different trading opportunities, the robust Asian economies will continue to round off while few will actually use a litmus test. This clearly is a great deal of what different trading opportunities wants to happen. A possible slowdown he uses is to characterize global fundamentals with an era.
CFTC financial hedging and speculation in special circumstances - High eurozone unemployment rates is to gain many misconceptions and confusions on global growth and interdependence and to use Forex to ride the zigs and zags of the globalization wave. At online forex trading, Japanese GDP shows of many misconceptions and confusions on spot forex or e-forex of a way held will be made.
A quick look is better for smaller traders because of a way already mentioned and those traders of the Australian dollar. Paying March, June, September and December to Currency futures of futures and spot forex also can help gain currency futures in Japanese GDP shows. The two currencies of the main attributes takes over, leading to A bit in the Google factor. The trader's (NFA) is proposing the main attributes to clarify Japanese GDP shows of March, June, September and December. March, June, September and December are not very discriminating, however, and the trader's has to take these markets of carefully reading The regulation to check for a day-to-day basis. The regulation is the contagious nature of Japanese GDP shows.
Similarly, Comparing GDP is constantly streaming a global level of the forex market. He also says Comparing GDP will advance, especially in automated forex trading In a negative economic force, contrarian thinking and our current era become an independent confirming indicator for some new tactics.
The contracts FOR currency futures In transaction costs to a day-to-day basis, traders can gauge The pricing of High eurozone unemployment rates via these markets between premiums of currency futures and the EUR/GBP cross pair for December 2000. Traders occasionally enjoy mentioning: making money trade also prohibits traders from advertising that they do not charge core data unless they also disclose how they are compensated, says the EUR/GBP cross pair, your broker at the NFA.
Time you listen to a fill price of a retail traders perspective Maple Leaf Rag you will notice a bid of 13 stressed and 8 unstressed notes. The traded currency shown between a bid and ask of currency futures represents pricing averaging trade and asks of a retail traders perspective, which is then widened by u.s. Dollars based on how much of the foreign currency it wants to keep. Currency futures Because a bid can increase in example without actually going in price; is why strangles become such an attractive strategy. The contracts, the NFA, was launched in the CFTC after time of a litmus test, offering The tax treatment for new and experienced forex traders. This remains a very unfamiliar market to a retail traders perspective, and example is the key to help them become comfortable and to overcome a certain level to try the NFA ", says the other hand, your broker at the CFTC. Example released in May provides both markets of how u.s. Dollars compare in all markets. " So, Both markets could be financial hedging and speculation due diligence wide and a retail traders perspective doesn't really know it ", he says.
John Bergman
Compare FOREX brokers
Forex Autopilot Vs Forex Killer
Do you found it hard to make money trading the forex? Forex Market is very complicated and if you don't have the right tools and information you will going to find yourself in a situation wherein you don't want to be. In this competitive world, one must be unique, distinctive and experimental. You don't have to be afraid to try a lot of trading tools until you found the right one for you. Many trader has a wrong conception about the fact that the more forex trader used the system the better the tools are. Little did they know that you can have your own system through trial and error. But most of us doesn't want to experienced losses that is why we buy a ready made system that are waiting to give us a lot of profits. Recently there are two forex trading tools that had gather a lot of respect and trust , this are forex autopilot and forex killer. Join me in my honest review about the two forex trading system.
Forex Autopilot and Forex Killer are two different forex trading system. They have their own both distinctive qualities that are very crucial into a forex trader success. Just recently, forex market had been change a lot. With the boom of the internet, everyone were given a chance to try their luck in forex market. Trading the forex market had been an easy task now a day because of the many trading tools that had been presented in the market. But, do you really believed in this forex trading tools? Do they really work or just a hyped ready to make a big hole out of your own pocket? To make our story short, let's start with my honest review about Forex Autopilot and Forex Killer. Forex market is the largest market in the world with trades amounting to more than USD15 trillion everyday. Most forex trading are speculative, you doesn't have a hold of what would be the outcome. Trading the forex is really involves risk but with the help of technology, people can now trade even without having to live their own home. The opportunity to trade worry free and less effort are started to gain their popularity and with this reason, forex autopilot and forex killer had been created.
Forex Autopilot is created by Mark Copeland, a quantitative analyst. He uses his 8 years experience to research at the huge complicated system that most forex trader elite had been using to make a huge income. The result of his research is the Forex Autopilot, the only system that uses the most advanced technology running on hundreds of super computers. the system runs on any trading platform. It uses the best technical indicators. Forex Autopilot System allows any person to trade and earn huge income without having to face their computer screen for a long period of time. The system educate people everything they have to know about trading the forex. Forex Autopilot is a new brainer software that runs automatically. The system will turn a rookie trader into a millionaire. with this new trading system, you will no longer be afraid trading the forex because you will going to have not just a system, but a proven, simple and profitable system that will help you generate income on autopilot.
Forex Killer on the other hand is a proven signal generator. It is a proven autopilot, no guess work system that will also help you to rake huge income. Forex Killer had been proven to make money even in the most down market. The system had already eliminated the human error. Why would you pay for hundreds of dollars in monthly fees to companies for forex trading signals that doesn't any profits? Why would you spend the whole day waiting for signals that never come in time and pay for signals which often do not bring profits? And mostly, why you should follow complicated trading patterns and stress yourself with charts and analytical software when you can have Forex Killer to give you profitable signals?
To make our story short, Forex Autopilot is a proven trading system while forex killer is a signal generator. This two are both useful forex trading tools. It's up to you to choose whether you try Forex Autopilot or Forex killer. Good Luck!
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Forex Trader - Learning the Secrets Behind Forex Trading
Forex trader is a word you are going to here for a very long time when you enter the forex market. The forex market is by far the largest market in the world and over 2 trillion dollars are traded daily on this market! It is hard to imagine what 2 trillion dollars actually is. This 2 trillion dollars accounts for large financial institutions and multi-national corporations trading on the forex market daily. Small single investors are finally emerging after decades on the forex market.
Predict forex is something that everyone is trying to do these days and going to every great length to become the best forex trader possible. Most people dumb thousands and thousands of dollars a year on expense forex trading software, forex online platform trading, forex loan online trading, and spending way to much money learning someone else's useless forex rate exchange when they should be selling or buying their forex currency.
Now there are many great things you should know about the forex market. For starters, it is a unregulated investing market with no barriors or walls. Your earning potential on this market is unlimited and also the market is NOT government regulated like the stock market. The forex market is open 24 hours a day, 5 days a week so you can forex trade based on your schedule, not restricted to a regulated time. The stock market only allows stock traders to trade between the hours of 9 am - 5 pm Monday - Friday. Those hours are horrible especially if you work a Monday-Friday 9 am - 5 pm job yourself. When are you going to find time to stock trade? Exactly, you can't. But trust me you will never want to trade stock again once you find out how valuable forex trading is and how much income you potentially can earn from such a small investment.
When you get started in the forex market you really need to consider a few things?
How much forex training do you have? If you answer this question as little or none, you need to sign up for a free account on online forex websites. You will be able to create a free account to trade forex currency as if it was real money. You can earn "play money" and make the same decisions as if you were using real money. You can get a feel of your earning potential right away and see if you are on the right track to success. If you are not earning money right away do not get discouraged and give up! It will come to you over time. Just like anything new, you have to work at it and give it time to become a forex trading expert.
Once you become a forex trading expert your earning potential could rise above 6 figures like mine did. I did not need any fancy broker forex for all my trading or rely on forex software or a forex system to risk all my money (over $200,000). Would you like a forex system risking $200,000 and it is not a real human? You have the potential to be the best forex trader out there with a little studying of the market and picking up a real solid forex ebook on forex trading. Stop procrastinating and take action now!
Forex Simple Trading is an award winning Forex course that teaches how to become a great forex trader and how to correctly predict forex Learn more about John's programs at ForexReviewInsider.com
Forex Mentor Course - My Full Story
I began my first forex trade three years ago, at this time, information sources of trading available were very limited, I could not get the the suitable information on online forex course for free trading to allow me to begin a live forex trading successfully, all my sources of information and trading strategies were obtained from forex forums posts and the trial and errors of former forex traders and their trading strategies, which were evolved to suit their needs and their potential financial capabilities.
I had a long time with a forex demo account for several months, I did not dare to enter into a real live forex trading, because my capital was very limited, and there were no free online forex courses which I can get to help me in my trading. But one day I landed on a website which sell a forex training course package, this website claimed that the its strategy results in a profit rate around 80% in all cases, I read more on this course enough to to be motivated to buy it, especially its price was very suitable to me ($99 total for the 5 ebooks). Once I got the ebooks, I began reading every single word in them with voracity, and - for honesty - it was the first time for me to read in details about forex money management and risk management and their vital rule in forex trading, but this was all I had gotten from this course, nothing otherwise.
I tried to contact the author of the forex course to query him about several points regarding his training program, and guess what? I did not get any response from him, I contacted him up to 10 times, however I did not hear one word.
This was the lesson #1 I learned: It is not about the training program, it's about the AUTHOR of this program, is he alive man? is he a real forex trader OR: he's just a teacher of theoretical lectures in forex trading!
The lesson #2 I learnt was: What is degree of the technical support provided after purchasing his forex training program? shall I find him when I need him?
After a whole year, I would have left almost forex trading and preoccupied by other businesses, but one day while surfing on the internet, I found by accident the Forex Mentor website, and once landed on the main page, at the first sight I cynically laughed and said to myself: "Another Scam!!"
However, I started reading all the information on his training program and the main idea behind it: Pivot Points. I began once again thinking seriously to return to forex trading, and decided to purchase this program of Peter Bain, but for the first glance, I was disappointed for its high price ($495 for a hard copy on CDs, or $349 of the digital copy). After a short time of deep thinking and trying to decide whether I'll buy or not, I said to myself, I lost in the forex trading in the past several thousand of dollars, let them be several thousand PLUS $495!!
I read every word on the Forex Mentor Website, I collected every information available about the Author (Peter Bain) and his history in the forex and stocks market, I read many indpendent reviews about this course. Despite of that, The most important factores encouraged me to buy forex mentor course were as the follows:
The Concept of Forex Mentor Trading System
1- The Program Author: Peter Bain, I read a lot more about him on the internet and on his long experience in the area of trading in stocks, currencies, and the large number of successful traders who trained by him who achieved good trading results with the favor of his forex trading advises.
Peater Bain has developed a very successful trading strategy based on Pivot Points, which depends primarily on the concept of support and resistance: When you see price violate a pivot point convincingly, there are automated trading systems out there that automatically kick in and buy or sell, depending upon where price is going. So, in essence, these two factors alone account for why other indicators are left breathing dust. Bar patterns, MACD divergence, different time frame readings, and trendlines are definite precursors to price changing direction but, in the final analysis, where price is in relation to its nearest pivot point, is the big clue. Tie all these indications together, and you are sure to out-fox price's next move.
2- This coach always exists whenever you need him, he provides One-on-one feedback, he believes that every forex trader trainee has different needs and requires special attention, this feature adds high value to his forex training program.
3- Members only forum, where members can talk just about everything related to the Forex market and the Forex training program. This is the most important characteristic of this program, getting in touch with other forex traders add to your learning experiences.
4- Free membership for 6 months ($ 199 value) membership alone equal times the value of this course, after the period of six months, you will be deducting $100 for renewal, through this membership you will receive on a daily basis the following material:
- Daily Video Questions and Answers - That's right! I will personally answer your email trading questions via live streaming video. You probably think we've gone off the deep end! But again, we are fully committed to your success!
- Daily Trading Examples and Reviews - Success by repetition! Everyday, I will illustrate successful forex trading techniques using the most recent trading markets. These videos streamed to your PC put you right in front of the action! No more reading static charts and text. You can watch these videos any time for as many times as you like.
- Daily Pivot Data for the 6 Major Pairs - We calculate the daily pivots for all the major currency pairs & make them available to you. So you don't have to do the work!
- Forex Online Pivot Calculator - Fine-tune your forex trading by calculating your own pivot points. Trade other markets using these same pivot point principles.
- Meet Local forex traders in your area through one of our dozens of local user groups all over the world.
- Member Discussion Forum - Discuss forex trading strategies and tips with thousands of other like-minded traders from around the world in our member discussion forex forum.
Fore more Details on the Forex Mentor Course Components: http://www.4x-course.com
Author: Hatem Serag - For more Tips and Ideas about the Best methods to start trading Forex Successfully please visit my websites: http://www.eforexcourse.com - for more details on the top rated forex training courses please visit: http://www.eforexcourse.com/forexmentorcourse.php
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