forex

Step1The step 1 explains the notion behind the FOREX trading by defining certian concepts and terms.The foreign exchange trading is always done in terms of quotes and understanding these quotes might not be very easy in the first place. In order to get a hold on the foreign exchange quotes, a person needs to remember two things [4] i.e.a) ''The currency listed first in the quote is the base currency andb) The base currency has always the value 1.''For instance, GBP/JPY has the base currency as GBP. The quotes are generally expressed in terms of pair currencies e.g. if quote states that GBP/JPY is equal to value 221.91 that means 1 GBP values to 221.91 Japanese yen. So, if this value increases then GBP has appreciated in value in comparison to Japanese yen. The prices in these quotes are expressed in terms of pips which stand for “percentage in points”. These are basically the fourth decimal point i.e. 1/100th of 1%. The example of a quote which involves 10pips increase could be USD/CAD = 1.1355/1.1365 (note the last two digits). In this case, an increase in pips means weakening of Canadian dollar. As per [2], ''the smallest move that a currency pair can make is one basis point or 0.00001.''The quotes also use two important terms known as bid and ask which makes it as a two-sided quote. ''The bid is the price at which the base currency can be sold simultaneously buying the counter currency. The ask is the price at which the base currency can be bought at the same time selling the counter currency'' [2].
Step2The second step describes the powerful features of the FOREX trading system.The leverage & margin are the major features helpful in drawing the attention of the traders because these increase the buying power of the traders. ''The leverage allows the trader to expect high returns on investment (ROI) on even small market movements and it also utilizes less money to trade'' [4].On the other hand, margin in forex allows the investor not to pay any interest to the amount lender on the amount borrowed for the trade. In forex, margin is the minimum amount needed to place the trade. This can be the initial amount with which the forex trading account was opened.The example below helps in explaining the concept in detail:-Supposedly,The balance in the account (trader’s) is = $10000 and the US dollar measured to be as undervalued against the JPY. Now, to place a trade investor has to buy USD by selling JPY and wait till the rate increases. Assuming the current bid/ask price for USD/JPY = 119.30/119.40. This means that the trader can buy $1 US for 119.40 JPY and/or sell it at 119.30 JPY. On leverage 100:1 or 1%, the trader starts buying a lot of 100, 000 USD for 119, 4000 JPY which means that the initial margin deposit for this trade would be = $1000 USD. As expected, the rate now increases by 30 pips making USD/JPY = 119.60/70. The deal is closed by selling the US Dollars at the rate of 119.60 JPY yielding 119, 6000 JPY thus making a total profit of 2000 JPY.=>P&L (in terms of USD) = 2000/ current USD/JPY rate= 2000/ 119.60=>Return on Investment = $16.72
Step3 This step allows user to get familiar with the e-trading using FOREX softwares. The explanatin is provided by using one such software called FX'x GTS.The self-explanatory figure explains a practical knowledge of some terms discussed earliers. The currency pair which has to be bought or sold can can done simply by a click on the sell or buy button in front of that currency. On selection, a quote is prepared and dislplayed in the bottom section for the user to keep a track on. The software also provides some attractive powerful features which allows to add stop/limit and Hedge actions thus making trader constantly aware of his trade.
Step4 This step is furter explanation to the G.T.S software. The trader can select various other currency pairs upon which the trade can be made. The left middle section shows the account details of the account holder i.e. balance, leverage, equity,margins and used margins. The other features which can be seen in the software are session activity, G.T.S charting and latest news that makes the trader aware of latest happenings.
Posted by ifeanyi83 at 5:20 AM 0 comments

How to Currency Trading With Forex Autopilot
Currency Trading With Forex Autopilot "Robot" Regarding currency trading, this review will focus on the Forex Trade autopilot online forex trading system, created by currency trading expert. Currency trading software, Forex Autopilot, is a widely used trading software that makes more money in the currency trading market. It is regarded by many as one of the best foreign exchange trading software on the market today, especially for consumers.
Instructions
Step1Forex autopilot system was created by Mark Copeland, who started trading Forex 8 years ago. He was an analyst at Goldman Sachs, and while it investigated the large complex systems like the big boys are used to make the clearance of million dollars in the forex currency exchange markets.Forex autopilot is the most prominent and well-known platform for automated currency trading transactions online, and today is, actually, the original Forex robot to be released to the public. But when he says this, the trading program is good and everything that can be expected to make money with it? Please read on...
Step2First, no forex or currency trading system software can ensure easy, consistent profit all the time. The currency trading market, as the stock market, consists of too many unpredictable factors. Anyone who promises to be able to read the future as a fortune teller is a liar. The exchange rate is similar to games. But what success forex system robot can do is increase the odds, significantly, in your favor. Then there will be a good probability that users will make significant money in the long term using the software.
Step3The currency trading system uses only the most advanced technology, running on hundreds of computers, hence the term,"robot". The system runs on trade target platform, which is the most famous foreign exchange trading platform in the world.Forex currency trading autopilot was designed especially for someone who has no experience of holding a rent in line to enter the lucrative world of currency trading and international currencies. In the past, he would have to spend much of their time, money and effort in learning how the world works in the forex exchange, or hire an experienced operator to do the work for you, now you can enter this world, with absolutely no experience, and with an investment of as little as $100 start the ball rolling.Forex trade autopilot currency trading software provides automatic robot driven by trading in the foreign exchange market. The creators of these automated trading Forex say that you can make easy profits with little time and without understanding the complex algorithms. In this review, I will show you how to decide whether the system of automatic robot forex trading is legitimate or fraud.Scroll Down To "RESOURCES" (for live link) To Get Started With Forex Autopilot.
Posted by ifeanyi83 at 5:18 AM 0 comments

How to Make Money by Trading Forex
Trading Forex can be scary, exciting, profitable and potentially costly if done incorrectly. Here are some tips and tricks that will help anyone trade Forex like a pro.
Instructions
Step1Select a firm you want to trade with. When you are selecting a Forex trading firm, check the commissions they charge, the spreads they give, the amount of money that is needed to open a account and their requirements for depositing and withdrawing money.
Step2Set up a Demo Trading account. Demo trading is basically paper trading or fake trading. Most firms allow you to set this up with only a email. Install the software platform and your ready to go.
Step3Practice makes perfect. Trade and trade. Experiment, with new things and new ideas. Random guess, big risks, small risks and find out what works and what doesn't. REMEMBER this is fake and its better to make mistakes here than when trading with real money.
Step4Learn to love stop and limits. Stops are predetermined cancellation orders. At the beginning of a trade tell yourself how much are you willing to lose and then set you cancel order. Also, Limits are cancel orders when you take profits. Don't get greedy. Tell yourself ahead of time where you want to take your profits at and stick with it.
Step5Open micro or mini account. Once you've perfected your trading style. open a micro or mini account. Most good firms offer this and you can trade real money for as little as $10. This is key, because making the transition for fake trading to real, can be emotional disturbing for some. Plus, this gives you a chance to see the firm in action for real.
Step6When your ready, progress to a full account. This step can take months for some or days or weeks for others. If at any time you feel your firm isn't performing at acceptable levels, go back to step 1 and start again.
Posted by ifeanyi83 at 5:16 AM 0 comments

How to trade trend lines in the Forex market
Forex market trend line break Using trend lines to trade the Forex and futures market.
Instructions
Step1 Forex chart with a trendline break. When trading the forex market you want to use 5 minute to 30 minute charts if you are daytrading.If you are trading longer term then 60 minute to a 1 day forex chart work best. Up Trend LineAn up trend line has a positive slope and is formed by connecting two of more low points. The second low must be higher than the first for the line to have a positive slope. Up trend lines act as support and indicate that demand is increasing even as the price rises. A rising price combined with increasing demand is very bullish and shows a strong determination on the part of the buyers. As long as prices remain above the trend line, the up trend is considered solid and intact. A break below the up trend line indicates that demand has weakened and a change in trend could occur.Down Trend LineA down trend line has a negative slope and is formed by connecting two or more high points. The second high must be lower than the first for the line to have a negative slope. Down trend lines act as resistance and indicate that supply is increasing even as the price declines. A declining price combined with increasing supply is very bearish and shows the strong resolve of the sellers. As long as prices remain below the down trend line, the downtrend is considered solid and intact. A break above the down trend line indicates that net-supply is decreasing and a change of trend could occur.When you draw an up trend line, you connect the lows of the bars or candlesticks if you are using candlestick charts.Drawing a down trend line, you connect the highs. The first step in constructing a trend line is to choose the time frame: 5 minute,30 minute or longer chart time frames. A long-term time frame can be from 1 day or up to a year, an intermediate period several weeks to several months, and short term will be less than a day to several weeks. The periodicity of the charts, intraday, daily, or weekly will depend on the time frame chosen for trading, in any case, the procedure for drawing the trend line will be the same.Remember you can draw horizontal trend lines to define support and resistance levels.These levels are very important and most forex traders will trade off the support and resistance chart levels.
Step2 Forex chart with a uptrend line Shown in this forex chart you can see a uptrend break. You draw your trend lines depending on the time frame you are using from the low point of the candle stick at around 1.2360 through the high of the day which shows the uptrend. As you can see there is a kiss point where the forex market will likely bounce higher.
Step3 Forex chart EMA break down for short trade This forex chart shows that the EMA and the CCI are breaking down and the CCI is below the 100 line for a possible short trade. The EMA lines are set at 9 and 18 when you set up your forex chart. On the CCI Commodity Channel Index indicator you look for divergences above and below the 100 lines and use the 0 line to look for retraces instead of getting higher lows with price going down which is a divergence. As you can see we use a CCI set at 14 this is the length you should use when you start out with a plus 100 line and minus 100 line which can be set in most charting systems.
Posted by ifeanyi83 at 5:15 AM 0 comments

How to Trade Currency Forex FX
Foreign Currency Market
InstructionsIn the financial world there has been a lot of buzz about Forex or foreign exchange trading. This is a brief overview.
Step1The world currency market, forex, fx or foreign exchange evolved in the early 1970 when world currencies gradually became free floating instead of pegged a government exchange rate against the U.S. dollar or other major currency. There are many reasons for this. As markets became more global corporations needed holdings, payroll and investment money in other currencies. A market developed similar to the stock market or commodities market to accommodate large trades.
Step2 In today's financial world there are many players in foreign exchange of currency. The biggest of course are governments, central banks and large commercial banks, followed by corporations, importers and exporters, speculators and investors. This area has become very volatile and very large as a short term and long term investment vehicle.
Step3Unlike the stock market share of a company, world currencies do not have a net loss of value. If the dollar rises against the Euro the Euro falls and so forth. If a currency goes up it is being valued against another currency that is falling. That means economics, political stability and many other factors play a roll in movement of a currency. War, crop failure on a wide scale, weather and major events all play a part as well as the general attitude about a countries direction and government economic policies.
Step4Trading currencies is very much like trading stock and commodities as far as actual trades go. You need to open a brokerage account with a trading company. Most trading is online for the small investor - speculator. You can leverage your capital for greater profit and greater loss potential. This of course compounds your risk and exposure to loss or profit. You can open an account with as little as $10.00 but need to have more of course to realize any life changing financial gains or losses. Several on line firms have play accounts where you can experiment with virtual dollars beginning with $5,000 or $50,000 to see what would happen and get your feet wet. It is a virtual money account that costs nothing and returns nothing so you can get a feel for trading.
Step5There is a very knowledgeable market out there. If you are serious about forex trading in your financial portfolio it is best to follow a successful mentor. So much information goes into the background of what makes a currency rise or fall. It is not a game of random guessing. Hot currency tips are harder to come by than stock tips. More variables effect money than a single company and its direction. Good Luck
Posted by ifeanyi83 at 5:13 AM 0 comments

How to trade currency online (Forex)
Currency trade know as forex. If you like to know the stock trading or future trading. You may also like to know currency trading. In some way, they are similar, but more risk. On the other hand, more earning in short time.
Instructions
Step1Search online for "currency trade" or "forex". There are many agents all over the world. You don't need to be US to trade "money". But, there are several US companies provide service over sea. For example, "Forex.com", "FCXM.com" and "e-trade". You will find more than this list.
Step2Sing up for practice account. Most company provide free practice account with real time market. It is good opportunity for people to know this trading and to see are they fitting to this kind of trading.
Step3Also read all the learning information on the web site. You must read through the learning material. Most of them you may know if you familiar with stock trading or some other online trading. But you still need to read. Currency trading is much high risk than other trading.
Step4After you have basic knowledge and try with your practice account. You than make the decision to start trading on real market or just go away.
Posted by ifeanyi83 at 5:11 AM 0 comments

How to Trade FOREX in the Shortest Possible Time
Trading currency in foreign exchange markets, or FOREX, is becoming increasingly popular. There is money to be made; however, many FOREX traders are not consistently profitable. With the advent of mini-FOREX accounts, FOREX trading is now available to anyone with even a small amount of capital.
Instructions
Step1Educate yourself on how the foreign exchange markets work. You will need to understand the basics of relative currency values, which will mean understanding a little economics.
Step2Pick your trading period. Day traders buy large quantities of currency and then wait for small swings in prices to sell for a profit. This approach requires a great deal of time and micromanagement. Swing traders, on the other hand, take a long-term approach and do not need to be constantly attentive to small changes in the market.
Step3Decide if you're going to use a technical or fundamental trading approach. Technical traders, which represent the majority of FOREX traders, make their decisions based on charts, and they buy and sell currencies when they reach certain predetermined levels. Other traders trade on the basis of market fundamentals like news reports, macroeconomic trends and commodity prices. The latter strategy requires a great deal more expertise. Of course, some traders blend these two approaches.
Step4Consider buying specialized FOREX trading software. These can track and analyze data more easily. You can also enroll in many online FOREX courses, but avoid those that make unrealistic promises or charge unreasonable amounts of money.
Step5Try a trade simulator, a system that uses fake money but tracks the real currency markets. This will enable you to practice your trading skills without risking your own capital, and it allows you to evaluate your own abilities at no risk.
Step6Set up a mini-FOREX account. These accounts require only a small amount of capital and allow you to begin trading immediately