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"Conversations with Forex Market Masters"
Can you list down everything someone should learn before their first trade?
Like what charts to use & skills they should learn etc.
Hi, before you trade with real money, you should know the basics in forex trading. You can also trade side by side w/ a professional forex trader where you can learn the strategy and skills. You can also try and practice trading w/o any real money through a demo account in http://exeliafx.com/ and http://forexvps24.com/ or you can also join forex trading forums such as http://www.forexfactory.com/forum.php and http://forexforums.dailyfx.com/forum/ where you can ask relevant questions and get answers from expert forex traders.
hi
i am a beginner and i work with fx solution
i got a question about that:
in the fx solution when i put a limit and stopless, and when the candle arrive to that point, it close my trade with no alarm.
is there any option to set any alarm when it close?
thank you
the best answer has 10 points.
Hello,
Here is the tutorial explaining all about forex techniques and limit / stop orders. Kindly go through it. it contains the methods where to put stop loss or limit orders.
I am using this site for my studies as well.
http://www.finexo.com/infoCenter/5548
http://www.finexo.com/
http://www.finexo.com/infoCenter/5553
Im very interested in getting a Forex robot to trade for me. I have heard great things about forex robots, But I am not sure which forex robot works the best. Im a new to forex completely and Im just looking for an automated way to make money from home. Would you even recommend trading with a forex robot at this current economic time? How much many can make with a forex robot and what is the best forex robot from your personal experience. Please help. Thanks
I have a Forex robot from http://forexautoprofitbot.com
It makes me lots of money on autopilot and it about doubles my money every month. To be honest I know nothing about the forex market. All I do is make lots of money from the forex robot. It is easy to set up. And it runs 24/7 whether your computer is on or off. In fact I quite my dayjob because I was starting to make more than I made at my job and I am still making more. Trust me this forex robot is the best available and no matter what the economic times are the robot will make you money. I strongly recommend.
I want to start forex trade business in New york. So, I want to have knowledge about forex trade, training and the benefits of forex trade.
Forex for beginners (including education) is an essential corporative LiteForex branch aimed to popularize currency dealing service. For newbie traders only starting to learn the secrets of forex trading, LiteForex offers mini and micro accounts. These accounts have extremely low deposit level for gaining real trading experience with the minimal risk. Moreover, we first created Lite and 100K Lite accounts with a deposit of only $1!
I heard that a new robot has just been released (RCTPA driven Forex Megadroid). There are quite many robots on the market. What is a Forex robot anyway? Which one is working? I have heard many good things about Forex auto pilot turbo. I would like to know which one is the most reliable. Thank you.
First, you should know that Forex is not that easy. Do not believe those who may say it is!
Now, there are some good robots that MAY help you. Some are scam. Others are for real.
Simply put, a Forex robot is a program that attempts to take the guess work out of trading currencies. Currently there is a lot of information floating around the internet about these products. Like any other tool, it needs to be used properly in order to be most effective.
Like I hinted, in order to use this tool the right way you need to understand a little bit about how it works and where it is best applied.
A Forex robot is a computer or computer program that monitors currencies and does calculations to figure out the best time to buy and sell. These programs help to take some of the guess work out of buying and selling and can help a trader to identify currencies that meet certain criteria, or when certain currencies perform in certain a way. Most of the selling points of Forex robots state that you can simply set them and watch the cash come pouring in. While in some cases this may work, in most cases you are going to need to carefully monitor the program and make sure that it is adjusting to trends in the market. While they can be very profitable they may require a certain amount of intervention to be run effectively. Used properly, and if you have the patience to get to know the programs, they become a powerful tool.
For this automatic approach, forex auto pilot turbo has worked wonders for me: http://www.forexapt.com/. It offers, among other features, high spread protection system and automated risk scaling. They say “95% winner”. Well, only the bottom line counts. In this regard, it has really delivered for me.
I had been watching the forex robot market for months, waiting for the right software to come out. I believe I have found a great one.
Really, get the fundamentals first. Then get your own system and test it offline (do that for weeks, if not months, until your system is well tested), whether you use a robot or not. It really takes a few months – a lot of patience and resilience. But if you are made for it, it is worth it. Read about the psychology of trading (never to underestimate). And then you should be fine.
Good trading!
Mark
I would like to know about forex brokers that offer low balance accounts. Do you have any recommendations? What about forex research? What are all the important events or meetings that affect the forex market?
trading is like a university education, it requires on the order of 10 to 20 years to become proficient and you have to be ready to accept it as a full time career. With that said, the broker that I use is oanda. I use this broker mainly because it allows smaller lot sizes which allows me to be very flexible with my exposure.
My recommendation- do not trade with less than 50k account. Do not trade live until you have risk capital (money that you will not need or regret losing) or minimum few years on paper accounts.
Forex research is a huge topic. Do not fall for technical analysis, it works in some situations, but the best bet would be to read the prices correctly via price patterns and timing. Do not trade during non farm payrolls or during tokyo and NY lunch hour. Trade during the overlap of US UK sessions for best liquidity. Watch for inflation levels, what central bankers say (and if what they are saying is just a warning or if they are serious about it).
For example you would want to monitor the japanese central bank decisions right now because their currency is strong enough to make their bank sell it to lower the price to keep exports competitive.
For CAD, watch for gold prices (oil is their major export). ect.
FINALLY: the only way to make money in forex safely is with law of large numbers in terms of capitalization. You have to have an account upwards of 50 mil, so this is not a get rich quick thing. The real money lies in market making and dealing.
Anybody can tell me how forex options affect forex market? Do they actually affect the market only when they are exercised? Does an exercise of a forex option occur at the same time as a sell-off of the option? (My understanding is that when an option expires, you have to exercise it then sell it to make profit)
OK, for more clarification, my understanding is that, when an option is exercised, you open a position at the stated price. But I don’t know if the opened position has to be closed immediately. Correct me if I am wrong.
Typically, what happens is you will be given the difference between the strike price and the current market price, as clearly the Writer of the Option cannot physically deliver a curreny pair at an older, lesser price than the market. So they owe to indemnify you, or place in you in a financial position similar to that as if you have the currency pair at the current market value.
Now as for option contracts, YOU DO NOT need to exercise them if they are about to expire. That would make no sense, as if they are ‘out-the-money’ you would lose money. A contract can expire, leaving you out the contract’s premium.
Hope this helped
What’s a decent forex broker which is not a seedy bucket shop but still not to high priced?
I want something that I can start off with with around $500 or so just so I can learn the ropes and make my little trades. I’ve read warnings about certain forex brokers which are unregulated bucket shops and aren’t insured properly either. But are there any decent forex brokers which don’t charge terribly high fees but still are decent?
First, you aren’t going to be a talking to a broker. With forex, you will have an account with a dealer who will be taking the other side of your trades.
Second, since they are dealers, they make their money off the spread, not by charging fees or commissions.
Third, they are not banks or brokers, so there is no such thing as “proper insurance”.
If you want to learn how the trades work google “forex” and you will see a list of dealers. Any legit dealer will give you a demo account free for 30 days.
Since forex is not governed by law anybody can be a forex dealer, but all the legitimate ones voluntarily register with the National Futures Association even though they don’t have to because they are not actually futures brokers.
Can you please explain in detail, what is the difference between a Forex Dealer and a Forex Trader? What do their jobs consist of?
Forex dealer or broker is individual or company who represent the traders so they can trade in the interbank market via their service while forex trader is individual who do buying and selling activities to get profit.
I have been reading about trading forex but I am unsure about the strategy I should be using. I have read about so many different strategies and they all claim to be the best and easiest. I was just wondering if anybody had any real experience trading forex that could recommend a good strategy to start out with.
If you are a beginner, i suggest you to use Marketiva, which is a very good platform to start trading with and very easy to use.
Marketiva gives you 5$ real to start trading so you don’t have to deposit and if you made profit from it you can cash out, this is why it’s very good for beginners. Their platform is very easy to use and they have support during trading hours for your questions, doubts etc.
They also have chat channels where you can talk, exchange opinions and ideas with traders of your country or international traders.
To open your account please visit http://www.marketiva.com/index.ncre?gid=3371