Forex Enforcer

Archive for December, 2009

I am 18 years old and I am considering trading currencies as a home based business. I’ve had practice with ordinary spot forex and find it okay. I want to know what is better if I was to trade ordinary spot forex or currency options? Which is better, and which has the best chance of you becoming successful and becoming a millionaire out of?

Currencies tend to trend long term and be volatile in the short term.

Have a look at this chart from finviz & see if you agree.

http://www.finviz.com/forex_charts.ashx?t=ALL&tf=w1

I only trade currencies using long term call options. Why?

1. I have a known level of exposure (I can’t loose any more than I put in)

2. I feel its lower risk, as I am trend trading – trends can also revert.

3. It is definitely lower risk than spot trading, as I am not trading on margin – I can still loose everything though.

4. I’ve had a few friends take up currency trading (spot), do quite well for a bit then have a bad run, only one out of 6 is still in the game.

5. It suits my personality. If you can handle the swings, spot trading might be the thing for you.

Open up a demo account and see how you go.

Give your self time to learn before putting your own money down – once its gone, its gone.

Examples of applying the ABCD pattern on the 5min chart of the GBP/JPY pair throughout the trading day (non-news).

Duration : 0:10:49

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Technorati Tags: Black, currency, education, forex, FX, fxKnight, invest, Knight, learn, markets, trading, training

I want to know in your opinion if you think that currency trading could create a billionaire in his/her 20s, and if you think that some MBA student fresh out of uni in his/her early 20s if they are clever enough could achieve billionaire status as such in their early 20s?

Don’t listen to any of the negative above answers above.
Warren Buffet did it. You can too. He didnt start out with much but because he knew what he was doing he opened up his business for investment because the investors knew he was smart so he got more money that way to use for trading. You could go down in history as the legendary trader. Good luck.

All our international transaction occurs in USD & not in INR. This occurs no matter whom we trade with. For example we buy crude oil from Saudi Arabia, yet we pay them in $ & not in Rial or INR. Why should we use $ in payment, why not INR or some other country be the trading currency. This not the case with India, all over the world they do this. Other dominant currency is euro. But why should international monetory be controled by rich nations, why not it be poor nation. Why should a fate of one country be decided by other country ?

Because the currencies you mention are considered "soft" currencies. "Hard" currencies like the U.S. Dollar and Euro are more widely traded on currency exchanges and are more liquid currencies. Also they are a preferred reserve currency because of the large size and stability of their economies. That’s why some commodities like oil are bought and sold in $ or Euro, because the people selling the oil prefer $ or Euro.

Free Training Vids: http://www.forexstrategysecrets.com/jumpstart.html

This videos showcases two trades I made based on the forex training strategy: Jump Start Strategy. This Forex training is a daily cash flow strategy based on 2 simple indicators.

Duration : 0:3:57

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Technorati Tags: auto, currency, forecast, forex, jumpstart, money, myspace, oil, pilot, robot, software, stock, Stocks, strategy, system, Trade, trading, training

I am completely new to the world of trading stocks or currency, but I want to get started. I see ads for all these different websites (ameritrade, etrade, etc.), and I was wondering, which (if any) would be the best for a beginner? I’m not looking to get rich quick, but I would like to start investing my money for the long term.

Also, which if any of these sites offers a way to trade currencies? Ideally, I would become a member of the site with the best combination of both of these (trading stocks and currency).

Thanks

There is no “best” on-line company

Mostly all brokerage firms provide their clients with on-line services, including trading platforms, latest market & financial news and research.

Customer need to select the site that is best for them. Traders have requirements in a site, while investors have other requirements.

Although most sites are geared to general securities and commodities, however customers may have special needs for the types of products they trade, and the markets in which they trade.

It seems that the most popular firms for on-line investing all of which provide excellent platforms and services are; Scottrade; Chas.Schwab; TDAmeritrade; Fidelity; E-Trade and Thinkorswim.

Based on your question, the last thing you should be looking for is an "on-line" site,
You should first educate yourself about the securities markets and the products traded on each.
Get to learn the terminology, the rules and the various strategies.

visits to some websites like MSN Money and Yahoo Finance. (http://moneycentral.msn.com/home.asp http://finance.yahoo.com/ )
While at MSN following the strategy lab analysts to get a feel for what the pros are doing and why. This site has some basic information for beginners. If any site offers free information, take it. Other website that can provide instructions and help with procedures and terminology are
Investopedia – http://www.investopedia.com/ Stock Charts – http://stockcharts.com/
Other – http://www.investorshub.com/ http://www.1source4stocks.com/

Free Forex Trading Tips: http://www.forexstrategysecrets.com/blog Forex Tip: do not set your stop loss by a set number of pips, or at a pivot point, or a Fibonacci line. Set your stops where the Forex market tells you to set them. This forex tip has helped me improve my trading tremendously. There is no such thing as a Forex autopilot mode.

Duration : 0:4:43

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Technorati Tags: 4X, autopilot, currency, dollar, euro, forex, FX, loss, market, profits, secrets, stop, stoploss, strategy, tips, traders, trading, training

I would like to do some paper trading of currencies. Anyone know of any good simulated trading platforms?

You can get a trading platform from any Forex broker.
The most popular platform is MetaTrader4 (MT4).

You simply need to find an MT4 Forex broker. All of them offer so called Demo accounts. Register and get one for paper trading.

Here is a quick list of brokers with MT4 platforms:
Interbank FX
FXCM
MIG Investments
IKON Royal
Hotspot FX
Direct Forex
ODL Securities

I am trying to learn currency trading as soon as possible and need some someone expert to tell me the most important things I need to know about currency trading.

Thanks

If you keep listening to people who tell you to read, read, read, and keep reading more until you understand the trade then you’ll be doomed for sure. Don’t bother with learning technical analysis. The best tools you’ll ever need are your eyes for reading price action and your brain for analyzing news releases. Keep trading simple. All you need to know are 3 things and they may sound real stupid.

1. Entry Point
2. Exit Point
3. Risk Management

If you have a trading idea that doesn’t include any one of those. You can instantly filter away that thought, because no consistent winner can do it w/o keeping those 3 things in mind.

I’m currently making 5-10 percent return a week. If you can give me three good reasons to teach you, I’ll fink about it.

nliang@luc.edu

http://www.informedtrades.com/
The first lesson in our new free video forex trading course which introduces the main aspects that differentiate the forex market from the equities and the futures markets.

Duration : 0:5:16

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