Archive for November, 2011
Sunday, November 27th, 2011

Betty asks…
FOREX: when the market on the FX is going sideways (NOT bullish or bearish), what is a good technique that…?
you use to trade it???
For example, the charts on the 30 min., USD/JPY have been “meandeing” or have not rallied in any one direcetion for the past 24 hrs.. Which technocal indicators do you use on your chart to identify a good trading opportunity?
admin answers:
When the market is going sideways, the best technique is… To stay out and find another one that trends. If you want to try anyway trading support and resistance is your best bet. Indicators are too slow. But I found out the hard way that the risk-reward ratio is not good enough for non-trending markets.

Sandra asks…
What is a good analytic tool to use in FOREX trading? Can you please summarize on how you suppose to do use it
I am talking about the chart in FX.
admin answers:
People lose trading commodities.
A lot.
Surely you don’t have to listen to me.
But might i suggest you set yourself some kind of limit, and when you’re down that much, go find something safer.
Consider, who wants you to win?
No-one.
If you were a billionaire, someone would like to be on good terms with you.
If you’re a little guy, you’re not worth the effort.
People who come out ahead are incredibly smart.
They’ve studied the market for years.
Why in the world would you think you’re smarter than they are?

Mandy asks…
Any good tool out there to beat the FOREX Market?
Trading the FX market is very unpredictable, even more if you lack effective tools (software, charts, etc.) that I know they are out there…
admin answers:
The TED(Tressury Exchange Derivative) spread is good method though some have gone under playing this including some Nobel laurettes. The idea is you look at the short term or long term rates and the exchange rate movements and invest in short term or long term t bills in foreign currency when their exchange rate is moving up and convert back after the exchange rate has gone up. Such opportunities has to be figured out thoroughly before getting into it.

Helen asks…
Whats the best online forex trading broker in your opinion, and why?
I have an interest in trading forex as I’m quite good at it. I have tried out easy-forex but don’t like their spreads as they are too wide, I have been practicing using FX Club and have made as much as 500%+ return in a month, but I’m not sure. I have even tried practicing spread betting forex and have made as much as 400%+.
I want to know if there is a better forex broker out there that is a good forex broker that lets you take advantage of up to date news, charts and is easy to use, doesn’t have spreads and charges commisions only. Also one thast can be used by a UK resident. All help would be much appreciated thanks.
admin answers:
Dude stay away,
you can lose 80% in one day just as easily.

Robert asks…
FOREX trading question?
where are the fx traders,
do anyone know any trading platform/software that supports ‘Natal chart’, or nice forecast chart that can help an investor foresee the direction of the FX market days/weeks ahead.
admin answers:
You should read some reviews about trading platforms and what their offers.
You can try this – http://best-forex-trading-platforms.blogspot.com/2009/03/forex-yard-review.html
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Tags: Analytic Tool, Best Bet, Billionaire, Effective Tools, Exchange Rate Movements, Foreign Currency, Forex Charts, Forex Market, Forex Trading, Fx Market, Jpy, Nobel, People, Resistance, Risk Reward, Sandra, Software Charts, T Bills, Ted, Tools Software, Trading Commodities
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Saturday, November 26th, 2011

Sandy asks…
Are options trades the best vehicle to amass wealth quickly?
I am nearly at an age where I will be allowed to invest money into the stock market. I understand the fundamentals of the stock market and how it works. I’ve read a few books on options trading, even blogs and articles on the internet and as far as I can see they look convincing to make a fortune reletively quickly. Is this true that options could make you, say, a millionaire quickly with not much capital on you to invest, and would you recommend them?
admin answers:
Yes, it definitely is 1) if you know what you are going to do 2) if you know where the market is headed 3) if you know what you did (i mean if you learn from your mistakes)
The capital is sure less on most options the risk is limited and profit quite large but that depends on your perception of the markets and the right decision and the right time. Options are complex vehicles and I would rather bet on investing and trading to start with…just to get a feel of the market moves and how it works…
The hard truth – There is absolutely no way to get rich quickly and become a millionaire and if someone tells or claims he has the holy grail please let me know…I will give him a good time!!
Sam

John asks…
I want to know about share trading and books about investment technique.?
I have been trading at NSE but not with much success. I want to know how I can make myself an expert in share trading? where I can get the best tips & best articles about trading at nse(websites or blogs ). Pl guide if you have personal experience about this.
admin answers:
Here are some books that yu will find helpful
What Works on Wall Street by James O’Shaunessey
Beating the Street by Peter Lynch
One Up on Wall Street by Peter Lynch
Trading For a Living by Alexander Elder
Mastering the Trade” by John Caster
How to Make Money in Stocks” by William O’Neil
24 Essential Lessons for Investment Success by William O’Neil
The Disciplined Trader by Mark Douglas
Here are some website that are useful and provide information for both the amateur and the professional.
Http://moneycentral.msn.com/home.asp
http://finance.yahoo.com/
http://investorshub.advfn.com/default.aspx
http://www.thestreet.com
http://www.brokerage101.com/
http://www.1source4stocks.com/
http://www.decisionpoint.com/TAcourse/TACourseMenu.html
http://stockcharts.com/
http://www.grahaminvestor.com/
http://www.stockta.com/
Good luck, study hard and you’ll invest even better

Jenny asks…
trading career??????????? and eduational map to success?
Well im 20 years old starting community college in January. I must say i will do everything in my power to get the highest GPA possible 4.0 hopefully. At CC im going to try and get into the Phi Tetta Kappa. Then i plan on transfering to university of Pittsburgh. My reasons are simple to save money. Although i did drop out of highschool my senior year. I am going to double major in computer science/economics or finance/economics. Im not sure but one thing is everybody ive talked to in my chosen profession, trading specifically proprietary trading, would agree that a computer science degree and being able to program is a +++ on your resume. Right now im relearning Russian, since im Russian just suffered language attrition, and in college i will be learning French. At PITT i plan on joining the trading club, parkour club, finance club, and investmant banking club. I also plan on obtaining an international business certificate, which requires international study abroad in chosen language or internship (France or Russia)… Im also working part time right now and plan on doing so throughout my education unless it gets in the way of a great GPA. My goal is to get recommendations from professors and a high GMAT score and work experience when i get out then to an ivy league MBA or MSF program. To pay for school the first 2 years shouldnt be a problem since its community college 8K total a year. then i will take out loans for the university. i know trading is what i do best and its my passion so success is a byproduct of all the hard work i put into it and i expect nothing less in the back of my head, but at the same time im not afraid of failure Ari Kiev preaches in his books simply psychology for traders and i must say i learned alot. But when i finish school i plan on moving to Chicago and gettng a prop trading position and doing very well one good trade at a time.. then who knows possibly hedge funds or a top prop shop where being a millionaire isnt anything special. Does my plan sound good? i think it feels right deep down and its what i want to do, so regardless its my plan but i just wanted some critisism and suggestions? thank you
btw my part time job is 50% for stock market trades and 50% for school.. I need to run my account because prop firms LOVE people who have traded before and they absolutey LOVE people who have passion, but alot ofpeople say they do when in reality they really dont and a simple questions like whats your favorite book or what trading blogs do you read? What indicators do you use? Whats better MACD or simple MA or EMA? What were your best trades? how did you feel? when ou lose money how do you react? from all the books ive read since middle school on this subject the books would agree im like the definition of great trader.
exuse my grammar and punctuation i type super fast.
admin answers:
I think you have a pretty good plan and have seemed to research things pretty well. Quant traders or quant developers or quant modelers are all in super high demand, esp. In Chicago, from what I’ve seen. I’m not too sure how the Chicago prop world works as I’ve only had a bit of exposure to it. But I have seen that if you know about trading and can help traders automate stuff, that is is in high demand. I don’t know if anybody cares about foreign languages (though Mandarin could be good once that market opens up). If you played your cards right you could get into carnegie mellon ms fin math program and end choose where you like to go, you know, provided things and the industry improve in the next 5 years or so.

Richard asks…
Where’s the best website(s) to find out about taking a vacation using home exchanging?
How many trading organizations are there? Who are they? How much do they cost? What exactly do they do? Do some/any have advantages over the others? Are there any blogs about this? How long does it take to set up a house trade for one or two weeks? Is there an average length of stay? Do they have some sort of licensing or trade organization? Are they rated in any way by anyone like the BBB?
admin answers:
Wow thats a lot of questions haha!!
I dont have an answer for you either, I was hoping to gain some similar information about the same thing from your clever question… So I just will say for now, thank you for asking it!!!!
Have a great Sunday! Happy Days (its my birthday hehe!)PWxx

David asks…
My educational plan for college???
Well im 20 years old starting community college in January. I must say i will do everything in my power to get the highest GPA possible 4.0 hopefully. At CC im going to try and get into the Phi Tetta Kappa. Then i plan on transfering to university of Pittsburgh. My reasons are simple to save money. Although i did drop out of highschool my senior year. I am going to double major in computer science/economics or finance/economics. Im not sure but one thing is everybody ive talked to in my chosen profession, trading specifically proprietary trading, would agree that a computer science degree and being able to program is a +++ on your resume. Right now im relearning Russian, since im Russian just suffered language attrition, and in college i will be learning French. At PITT i plan on joining the trading club, parkour club, finance club, and investmant banking club. I also plan on obtaining an international business certificate, which requires international study abroad in chosen language or internship (France or Russia)… Im also working part time right now and plan on doing so throughout my education unless it gets in the way of a great GPA. My goal is to get recommendations from professors and a high GMAT score and work experience when i get out then to an ivy league MBA or MSF program. To pay for school the first 2 years shouldnt be a problem since its community college 8K total a year. then i will take out loans for the university. i know trading is what i do best and its my passion so success is a byproduct of all the hard work i put into it and i expect nothing less in the back of my head, but at the same time im not afraid of failure Ari Kiev preaches in his books simply psychology for traders and i must say i learned alot. But when i finish school i plan on moving to Chicago and gettng a prop trading position and doing very well one good trade at a time.. then who knows possibly hedge funds or a top prop shop where being a millionaire isnt anything special. Does my plan sound good? i think it feels right deep down and its what i want to do, so regardless its my plan but i just wanted some critisism and suggestions? thank you
btw my part time job is 50% for stock market trades and 50% for school.. I need to run my account because prop firms LOVE people who have traded before and they absolutey LOVE people who have passion, but alot ofpeople say they do when in reality they really dont and a simple questions like whats your favorite book or what trading blogs do you read? What indicators do you use? Whats better MACD or simple MA or EMA? What were your best trades? how did you feel? when ou lose money how do you react? from all the books ive read since middle school on this subject the books would agree im like the definition of great trader.
excuse my grammar and punctuation i type SUPER fast lol
admin answers:
The Medical field will always be the securest job around.
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Tags: Alexander Elder, Beating The Street, Caster, Fundamentals Of The Stock Market, Holy Grail, How To Make Money, How To Make Money In Stocks, Investment Success, Market Moves, Mastering The Trade, Millionaire, Nse, O Neil, One Up On Wall Street, Personal Experience, Peter Lynch, Right Decision, Right Time, Share Trading, Time Options
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Friday, November 25th, 2011

Maria asks…
What are the Best Forex Trading Platforms?
There are so many, what are the best Forex Trading Platforms, particularly for a new trader?
admin answers:
I’ve posted this before, but I think this applies here.
Choosing a great trading platform is an important step in Forex Trading. A good one should offer the following:
Easy to Use
The software you use should be easy to understand and it shouldn’t take a long time work-You should be able to trade right away. If it’s too complicated to even start, how will you be able to use it to trade regularly!?
Real Time Quotes
Because Forex Trading is done 24 hours a day, and you need to have live quotes. Live quotes give you control of your money and you can check on it whenever.
Trading Rates
The software should have a freeze option when you decide to buy or sell.
Your Part
Do not be greedy! Before you start, figure out how much money you want to invest, and stick to it-Do Not Go Over!
Trading is not a ‘get rich quick’ deal. Just like starting any new job, trading takes time to learn and involves risk and loss, but can potentially be a great source of income-once it’s mastered.
I would recommend:
http://userfriendlyforex.com

Donald asks…
How do charts on forex platforms work?
Lets say the the computer chart moves the price from 1,5000 to 1,5001-a one pip move.Why?I could understand if the price would move once a day but every second or so?A one pip move has to mean something,there is a reason why it moved for only one pip.Whats that reason?
Also how does the chart know to move the prices?
admin answers:
For each movement a graph is made. When such graphs are combined together you can see the graph moving in electronic trading. Of course the market is very volatile so there are bound to many graphs.The graph seems to be moving thus.Each trading Software is linked with market thro coding which shows the movements according to the markets.

Donna asks…
Best forex brokers and trading platforms ?
What is the best platform to trade real forex? I mean, considering most of the features, like if its trading software is good, if it’s reliable, if the money transfer of deposit and withdrawen is fast, if it’s convenient to do trading with it, if the support is fast and effective, and so on and so on.
Is there any good platform support Paypal or has european bank account?
Thank you for informations. I’m planning to do real trade, but first only with a mini account.
admin answers:
There are several forex trading platforms! Every platform has some + or – !
Here you can read some reviews:
http://www.squidoo.com/Best-Forex-Trading-Platforms

Carol asks…
Is there an online brokerage that offers a demo account similar to forex trading platforms?
admin answers:
Hi
here you can find a list of good forex brokerage that most trader use that also offers free demo practice account and also real trading.
Http://www.bestforextradingplatforms.com
good luck

George asks…
Are there any forex trading platforms available in india?
I need to finance the trading account using INR banking account.
Any members here trading in forex in India? Any Indian institutions providing for this trade (like demat account for stocks).
admin answers:
Www.sncfx.com
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Tags: Buy Sell, Control, Electronic Trading, Forex Brokers, Forex Trading Platforms, Graph, Graphs, Great Source, How Much Money, Long Time, New Job, Pip, Real Time Quotes, Risk, Thro, Time Work, Trading Platform, Trading Software
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