admin answers:

There are lot’s of Forex signals providers out there. New Forex traders might be thinking of looking for a reliable Forex signals provider. Is there any reliable Forex signals providers available?

Personally, I will say do not pay for Forex signals. Think about it – if a Forex signals provider sells Forex signals for living, you can doubt their Forex trading skills? Or else if they are pretty good in Forex trading and making lot’s of profit, I am wondering why do they still bother to sell Forex signals for money. Thus, what would be the value of such Forex signals providers? The answer is ZERO.

There are Forex traders who have been relying on Forex signals arguing those Forex signals providers really help them making money in Forex trading. These Forex traders can even show their Forex trading logs as evidence. After some though, I came out with the assumption that assuming I am the owner of a Forex signals provider, in order for my business to be in black, obviously I need some satisfying customers. If I have 100 new customers this month, I send out buy signal for the 50 of my new customers while the another half with sell signal. At the end, I will able to have “some satisfying customers”. Finally, free advertising and testimonial will be made available.

admin answers:

Www.freedominforex.com or www.freedomrocks.com. The videos speak for themselves. 15 day free trial. Less expensive to get into than just about every other program and this one actually works. I tried 4x made easy waste of capital 3000 plus monthly fee for information. Having been searching for a system for years I have found it. In 30 days up 724.00 on 3000 and I am trading the conservative part of the program. Can also trade at 200 and 400 to 1 and the system shows you how to make money. Let alone get interest at a higher rate than you will find with any mutual fund out there. Good luck.

admin answers:

The Federal government warns there are a lot of Forex frauds out there, and these Forex robots such as Forex Automoney appear to be one of these scams. If these robots really worked, there would be scads of articles about them in the Wall Street Journal and other financial publications talking about them. When I do a web search, I can not find a single reputable news article encouraging the use of Forex robots. The link below is a Federal website warning you about Forex fraud.

There are a lot of people on the Internet claiming they have done very well using Forex robots. These appear to be of two types. One is the outright liars. You might meet a person called “Zboy227″ who says “I made a lot of money using ScamRobot2000, go to their website at ScamRobot .com/Zboy227.” The “/Zboy227″ tells the website that Zboy227 has referred you. If you buy the product, Zboy227 gets a commission. He is only lying to you to get a commission.

There is a lot of luck in Forex. Sometimes you will run into people on the web who have tried a robot for a few days and have had some beginner’s luck with it. They start bragging about how well they have done. Later, they start to lose money, but they rarely get back on the web and talk about how much money they lost. People like to brag about their successes, but rarely talk about their losses. The result is that much of the feedback about these Forex robots is positive.

I may point out that websites that sell Forex robots admit there are a lot of scams out there. Of course they claim the other guy’s robot is a scam, but their robot works. If you do a web search on the words “forex robot” and “scam” you will find a lot of sites saying their competitors are scams.

I will admit I have not personally tested every robot out there, and I can not prove they are all scams. But I would be very hesitant to spend a lot of money on a robot without clear proof it really works.

admin answers:

You have to watch the charts yourself.

While these might highlight points of interest, automatically trading based on these is a bit more than they’re worth.

admin answers:

Learn the basics: http://www.babypips.com. Also http://www.etoroforexgames.com has a great platform to start with. Their platform makes it easy to understand what is going and it is unlike any other platform in the world. They also automatically put in stop loss orders for you, offers its services for free, and there are no commissions.

admin answers:

I recommend using a broker that trades in lots instead of dollars. It makes things much easier, and it makes it much easier to discuss your trading with others. InterbankFX is one of the most reputable brokers in the US, and they also have an Australian office if you’re outside the US.

But based on my understand of eToro:

If you trade $50 at 400:1 leverage, you’re buying $20,000 worth of Euros, or 2 mini lots.

Your profit is 3440 – 3416 = 24 pips.
24 pips * 2 minis = $48 profit after paying the spread.

Keep in mind, of course, that if you lost the same amount, it would be just about your whole investment of $50. So you should only trade a small percentage of the money you have available.

Another way you can compare your practice results to your live results is:
Say you have $10,000 in your demo account, and $1,000 in your live account.
That ratio is 10:1.
Now say you made $1,000 in your demo account.
Just divide by 10, and that’s what you could have made in real money.

admin answers:

If you trade EURUSD, it can be as soon as few seconds. Trade on US market where there’s rapid movement.

admin answers:

Generally, a pip is the last decimal place of a quotation. So, to find out how many pips to double your money, you’ll need to know how much money you’re starting with and then do some math to figure out the number of pips to double it.

admin answers:

90% of all Forex trades are the EUR/USD pair. Because of this high level of volume and liquidity, many Forex brokers charge less for EUR/USD trades than other pairs.

You have to remember that Forex brokers also make money on the spread, so if you have very low commissions like this, you may be paying a higher spread on your trades. Ask this broker if they use the “raw spread”. If they do, this is a pretty good deal. If they don’t, you could be paying too much for your trades based on the higher spread. Be careful !

admin answers:

Understanding pips is extremely important as a pip denotes the smallest movement in the price of a currency and it is this movement which determines your profit or loss when closing your trading position.

For most, but not all, currencies a pip is 0.0001 or 0.01%. So, when a currency moves from a price of 1.7800 to 1.7805 it is said to move 5 pips.

Perhaps the easiest way to understand how to calculate pip values is to start by looking at currency pairs involving the US Dollar. In any quote the US Dollar can be either the base currency or the counter or quote currency and we’ll start by considering the situation when the US Dollar is the quote currency as in the case of EUR/USD, CAD/USD or GBP/USD.

In this case the situation is simple because a pip will always have a value of $10. So, if you are trading GBP/USD and the market moves in your favor by 5 pips you will make a profit of $50. Let’s see this in action.

Supposing the rate for GBP/USD is 1.9340. This means that 1 UK Pound is worth 1.9340 US Dollars. Bearing in mind that a standard interbank lot size is 100,000 this means that 100,000 UK Pounds are worth 193,400 US Dollars. If the market now moves 1 pip so that GBP/USD is 1.9341 then 100,000 UK Pounds will now be worth 193,410 US Dollars – a rise of $10.

Now let’s look at the situation when the US Dollar is the base currency and consider a quote of USD/GBP = 0.5170. Here 1 US Dollar is worth 0.5170 UK Pounds and 100,000 US Dollars are worth 517,000 UK Pounds.

If the price moves up 1 pip then USD/GBP = 0.5171 and 1 US Dollar is worth 0.5171 UK Pounds and 100,000 US Dollars is worth 517,100 UK Pounds.

In this case a movement of 1 pip represents a value of 100 UK Pounds which, translated into US Dollars gives a pip value of 193.39 US Dollars (100 ÷ 0.5171).

From this we can see that with the US Dollar as the quote currency a pip will have a value of $10 for a standard trading lot but that the pip value will vary with the market price when the US Dollar is the base currency.

admin answers:

Hard work, reading and gaining knowledge.. The systems they sell don’t work in the long run. Think about it, if you had a system to make money trading, why would you sell it and dilute its value?

admin answers:

Streetcorner hustling

admin answers:

I have been trading online for the past six years, and learned a number of different trading systems, and I can tell you there are no perfect system for everybody in all conditions. To complicate the matter further, you can choose different security types such as bonds, mutual funds, stocks, options, FOREX, etc. The choice of a trading system for your own situation will depend on:

- The amount of capital you have: you will be more conservative the less you have so you don’t loose it all in a few trades.
- Your tolerance to risk: what is the worst single loss you are able to tolerate in a single trade? What about losses in a week or month?
- The time you are willing and able to dedicate to trading everyday: For active trading, you should dedicate at least 30 minutes a day, with a few additional hours for stock screening and administration of your account.
- How much you control your emotions (fear and greed): this is one of the biggest danger of trading, what will make you fail to follow your own trading systems. Watch-out for that.

The key for most people is to keep track of the trades you have done, along with information for each trade of what system you are using to buy and sell. After a trade, rate yourself on how much you have been able to actually follow the system you chose in the first place when you placed the trades.

First, take a course or read books and learn a trading system. Make sure your system includes portfolio management and trade risk management. Check here for a few references: http://online-investing-review.com/blog/online-stock-trading/

Before investing real money, use virtual trading where you invest with fake money using exactly the same tools as if it were real money. This will save you thousands in avoiding real losses. When you trade virtual money, be as careful as if it were real money and be consistent. Make sure you track all of these virtual trades in your trading journal. See here for an excellent and free virtual trading environment: http://vse.marketwatch.com/Game/Homepage.aspx

Looking back weekly and after a few months, review your trading journal:
- Are there some trading systems that you had trouble following? If yes, they may be bad trading system for you.
- Among the trading system you were able to follow well, what is the average return?
- Since trading systems work differently on stocks, mutual funds or options, keep track of these and see what type of security worked best with specific trading systems.

In conclusion, you have to invest time and money to learn and try trading systems methodically to find the best system for you personality and your personal situation. Keeping accurate record of your trades and results will allow you to make an objective decisions and adjust your trading style to maximize your profits.

admin answers:

That depends on why you are asking for that specific currency pair. If you are interested in taking advantage of the interest differential then simply trade when the pair is trending in the direction of getting a positive interest at 5pm rollover… But then again the P/L of the trade would be more significant that the profits generated from the interest.

Easily the best site to learn about forex trading from is http://www.trademoney.com
It has whole books there that you can read, videos, and other stuff to learn, and it is all free. Great site. Lots there about those other currency pairs too.

admin answers:

Okey

It’s here

http://www.ez2fx.com/zulutrade.html

This is best one.