Archive for November, 2009
what are the mechanics of doing currency trading?
Can someone with experience in this area please answer?
How does ‘currency trading’ work? What kind of brokerage account is needed? Do the standard brokerages houses do this? I have an account at Schwab.
What is "Forex"? How do I buy currency contracts?
Thanks for the help!
Great question Antonio.
The Forex (Foreign Exchange) market is the largest financial market in the world and is open 24 hours a day. In fact, the Forex market is larger than all other equity markets combined. Unlike stocks, there is no central exchange where Forex transactions take place. So retail Forex traders trade the Forex market through Forex brokers who provide pricing and facilitate the currency trades.
Forex is traded through the internet so you can trade it from anywhere you have internet access. You can leverage your Forex account many times its actual value (up to 400:1 but 100:1 is most common) which provides for great profit potential as well as great risk. Forex transactions are traded in pairs so for instance when you buy the EUR/USD you are buying Euros while simultaneously selling Dollars. Because you both buy and sell with each transaction you can make money no matter what direction the market moves.
It is also fairly easy (maybe too easy since many lose their money) to start. Most brokers only require a couple hundred dollar minimum. Also, almost all brokers offer free practice accounts with no time limit so you can practice until you are ready to go live. The one key to not losing your money is this: Don’t start trading until you know what moves the market and how to trade it. If you start with live money too fast you WILL lose it.
Those are some basics to help get you started. Good Luck!
Forex Trading – How Does Forex Trading Work?
Click here: http://ShortWayTo.com/forex-trading/
– Are you able to win 9 of 10 Forex trades, using manual trading techniques? Get Your Pips Miner Forex Trading Robot.
Duration : 0:3:25
Forex Pivot Point Trading
Learn how to make money trading the foreign currencies using Pivot Points
Duration : 0:9:33
I want to trade in currency. Is there any online trading platform in India with fastest quote and settlement?
There are many sites say Forex.com, which are US based where I find difficulty in opening demat/trading account, settlement of funds due to legal barriers. Hence I want Indian based currency trading platform. Kinldy help me
Forex is not open to general public in India legally. You can do the transaction but you have to select international companies.
FOREX VIDEO – EUROPEAN OUTLOOK NOVEMBER 17TH 2009
Hey everyone, for this video I take a longer term look at Aussie USD, Aussie Yen and Pound Yen. The Yen crosses in general look very interesting, they are extremely congested and I dont expect that to continue very much longer. The Pound Yen especially is in a very clear apex of a daily trap. I hope you enjoy the video I also touch on my outlook for the equity markets. Good Luck!! David Pegler
Duration : 0:10:45
How difficult and technical is Currency Trading?
New to trading and a little wary of starting , would like to know the following :
1) How difficult is currency trading ?
2) Can you really make money trading ?
3) How many currencies does one suggest I trade as a beginner
4) As a beginner is swing trading the way to go
5) Does taking a currency course make a difference ?
Only Professional people to answer please !!!
1) How difficult is currency trading ?
Very.
2) Can you really make money trading ?
Yes – you can also loose money, which is not a pleasant experience
3) How many currencies does one suggest I trade as a beginner
Just pick one – say USD/GPB, USD/EUR, USD/AUD or USD/CAD
Become familiar with how it moves over a long term trend & how it reacts to news/events etc..
4) As a beginner is swing trading the way to go
Swing trading is for taking long term positions. You may find that day trading is more your thing – every one is different. Give a few strategies ago in your practice account.
5) Does taking a currency course make a difference ?
It may – as long as its good, you are really motivated, and you practice what they teach.
I would suggest that you open up a demo account & start trading with practise money first. Borrow a couple of fx trading texts from you local library and see if you can both stay interested and trade profitably.
If your still doing it after a couple of months, then you will get the most out of your investment. If you’ve given up the ghost, then its probably not for you & you should save your money.
Most people who do those courses are not trading in 12 months time. Why? because they were not motivated enough in the first place – after a few looses a lot of people give up. Expect to loose money for the first 12 months – it takes that long for most to learn.
* 10 hours ago
* – 4 days left to answer.
FOREX VIDEO – ASIAN OUTLOOK NOVEMBER 16TH 2009
Hi everyone! The Asian preview for Monday is an update on the pound (may as well while it is producing for us) and a new look at the EUR/JPY and the possibility of some downside action.
Duration : 0:9:31
What is the capital gains tax rate for currency trading?
I know that with stock trading, it’s 28% and 15%, but I’m not sure what the rate is for currency trading profits. I heard that it’s a bit confusing.
Its 15 percent for now. But more than likely will be going up depending on who gets elected.
FOREX TRADING – Scalping
Learn To Trade Forex Directly From A Professional Trader. Watch My Live Forex Videos.
http://www.LearnForexLive.com
Duration : 0:9:27
Will stock and foreign currency trading show up on my credit report? What web sites do you use to do this?
I’d like to get into stock and foreign currency trading if it will not show up on my credit report. What companies do you use for these activities?
Has nothing to do with credit history.
