Author Archive
Thursday, May 10th, 2012

Steven asks…
Do any online trading platforms offer index futures trading?
I’ve been looking around and haven’t found any. I wanted to trade S&P 500 futures. Ideally also they have fairly low fees and so forth, but I can compare that myself.
admin answers:
Download NinjaTrader for free and check it out.
Http://www.ampfutures.com/index.php
Futures data and currency data feeds are free. Also lowest margin rates I’ve found at $500 per contract.
Also, ThinkorSwim is a good one; also a free download.
Https://www.thinkorswim.com/tos/displayPage.tos?webpage=main&layout=homeLayout
The Realtick platform through TerraNova is an excellent platform I’ve used for years, but a little pricey: over $300/mo. Margin rate for the emini is $6,000.
TradeStation is the Cadillac, but very pricey.
Check out the Futures magazine and Active Trader magazine for platform comparison.

George asks…
What are the best online trading platforms for…?
the Mini sized Dow, E-mini- Nasdaq, and the E-mini-S&P?
and what costs are associated with the platform that you use such as contract fees and monthly platform use etc…
Did i mention that im looking to trade index futures….So which trading platform is good for that?
Last i knew scottrade doesn’t let you trade futures and im not asking about forex….
admin answers:
I like scott trade $500.00 to open $7.00 per trade no other charges.

Richard asks…
Best Online Share Trading Platforms in India?
Which one to choose -
1. Indiainfoline
2. InvestSmart
3. Reliance Money
4. Indiabulls
5. Geojet
I know Religare and Sharekhan are competing for last position in this broking industry.
admin answers:
At Present I work with sharekhan they take only 0.30% Brokerage. & service is very good. My experience with Sharekhan is for almost three year now. Opening an account with Sharekhan was a pretty smooth affair for me. It is really amazing to see Sharekhan having links with more than half a dozen
banks for money transfer. Consider this with the fact that Reliance Money does not have arrangement with ICICI bank whereas Sharekhan has. The way they charge is quite transparent and as per their promised tariffs only. I never found any deviation. Transacting online with them is pretty smooth experience. However I am disappointed they do not have any special offering to small and medium intraday traders. They charge 0.1% plus taxes for each leg of intraday trade. Thi is something I could not afford with intraday trading. So I chose to do intraday trade with Reliance Money and delivery trade with Sharekhan. I would like to shift to Reliance money only after observing their service for a while. With Sharekhan I feel pretty safe of my holdings in their DP account. If Reliance money is also having good service, then I would move my holding there to get maximum benefit. The reason why I am referring to Reliance Money is that I am very disappointed I have to leave the excellent service of Sharekhan for the sake of saving brokerage only. May be Sharekhan would come out with a nice brokerage plans for intraday traders, then I would be the first one to come back to their services. So the lesson one should learn so far is Sharekhan is not good for daytraders. But I believe it is the best option available in the market for long term investors who do ocassional transactions. Long term investors could benefit from the recommendations Sharekhan provide. Most of them reach target. TFCI is a fine example in recent times. Their customer service is excellent. If there is any deviation in their service, they would inform you at least one day in advance. I had one experience of them informing me about the 2 day delay in crediting the shares of a company into my DP account. This kind of service would ensure that we do not have to worry about any wrong doings with our DP account. I suggest Sharekhan account to all those ocassional traders with or without any knowledge about stock markets.
Web: www.sharekhan.com

David asks…
What are the Top Ten Trading Platforms on the Internet?
admin answers:
For b2c (business to consumer), nothing beats ebay and amazon simply due to the vast amount traffic these sites get. But if you’re looking for alternatives, ecrater.com and bonanzle.com are both picking up plenty of trade.
For b2b, alibaba.com is the world’s biggest, and you can also check out tradekey.com.
Hope that helps.

Susan asks…
Are there any trading platforms that allow for after hours trading of stock? If so, which are best?
PS: I understand risk. I’m looking for an answer to my question, not why or why not it’s a good idea. Thank you
admin answers:
I currently use Firstrade ( http://www.firstrade.com/ ). I’ve never traded after hours, but I do know that they offer it. I’m happy with their trading platform, but I wouldn’t know if they’re the best for after hours trading so you will have to check them out yourself.
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Tags: Active Trader Magazine, Amp Service, Contract Fees, Currency Data, Emini, Futures Data, Futures Magazine, Index Futures Trading, Indiabulls, Indiainfoline, Margin Rate, Margin Rates, Mini Nasdaq, Platform Comparison, Religare, Scott Trade, Scottrade, Share Trading, Sharekhan, Trade Futures, Trading Platforms
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Wednesday, May 9th, 2012

Betty asks…
Foreign Exchange: Rates quoted on Yahoo Finance vs. Rates given by your local Forex dealer?
The spot rate for the Swiss Franc has been around 1 to 1.05 francs to every dollar in the past few months, according to Yahoo Finance. When I ask a local Forex dealer to exchange dollar for Swiss Francs, they want $305 for 300 Francs which is quite far from the spot rate (and doesn’t include the service fee.)
I’ve consulted quite a few dealers and they all want more than $1 for 1 Franc. I’ve only looked at dealers and banks in the US.. I’d rather have a few hundred Francs in emergency cash when I arrive in Switzerland to avoid paying the ripoff rates at the airport.
Even though $1 is worth more than 1 Franc, I’m still happy if I can get an effective exchange rate (after fees and royalties) of 1 to 1. Is this possible or am I not looking in the right places?
admin answers:
Probably not, everyone will charge a “convenience fee” for the conversion, which is built into their conversion factor.

Sandra asks…
Do “Foreign” GOLD COINS have 3 values? Do they have EXCHANGE RATES?
Do foreign gold coins (say, Canadian Maple Leafs and other countries gold coins) have 3 values to them? 1) collectors appreciation value and 2) Daily spot/market price of the gold itself and 3) the foreign exchange value. And also, do real gold coins (foreign in this case) fluctuate according to exchange rates (FOREX RATES) . It would seem to me they should have some exchange rate since they could be used as currency if you wanted to. I am not sure. Thanks
admin answers:
Yes and no. If it is a coin such as the Canadian maple leaf for example, it has no collector value. It does have a face value of $50 Canadian but it is a one ounce gold coin so the $50 is merely so that it can be considered a Canadian monitary coin, unlike the gold coins the U S produced that had pictures of artists, writers, etc. But had no monitary value stamped on them. They were very unpopular. Some foreign gold coins are collector coins and would have value as such, many times great value to collectors. Most of those such as the old French gold coins are no longer accepted as legal tender because of the reevaluation of French currency into Euros.

John asks…
what factors are considered by commercial banks and the forex shops in fixing the daily exchange rates?
admin answers:
Well of course one main factor they consider is generating a profit!
What they do is they take the currency rate; it is usually active – and not fixed. They then put a spread between the buy and sell price – this is how the forex dealers make money.
Say if you bought US with your currency then sold the US back instantaneously you will find that you may have lost .5 to 3c per dollar or maybe even more because of the spread.

Ken asks…
Is there any Real time Forex (Foreign Exchange) rate comparison sites like this ?
I found this site when i was surfing. http://indiarealestatemap.com/irmv2/index.php?action=page_display&PageID=6
Is there any other site available to compare INR against USD ..in more real time ?
Thanks
admin answers:
Sounds like you need more signals/software than you have.
This may or may NOT be new to you. But personally, I use what’s known as the Forex Autopilot System.
I generated about $4000 in 3 weeks on autopilot. And this is just 1 of several accounts I let my robot trade for me . I’m still a bit nervous about trading on multiple accounts as this is new to me and i’m not rich yet, BUT…i started off with about $1000…so that’s a pretty good gain.
Anyways, here is a link to the program/software I use for this.
Let me know if you have ANY questions, and I hope this helps.
http://www.squidoo.com/Forex-Course-Trading-
Jeff

Chris asks…
FOREX RATES Experts, PLEASE HELP :.( When will the Australian Dollar go back to 1.75 per 1 USD?
currently, we don’t exchange the AUD remittances we get because it is tooooooooooooo low…. we practically live on this thing. I don’t know how long we will have to wait before we can get the same rate we used to get. if we exchange it now and then the rates change, the family would be at a great loss.. please, whoever is smart with this FOREX thing, how long should i wait until the AUD exchange rate goes back to 1.75 from 1.56 per 1 USD? please please please explain this to me as much as you can. and most importantly, what should i do regarding this matter??
admin answers:
It will take more than one year…..maybe even 2…
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Tags: Appreciation Value, Canadian Maple Leaf, Canadian Maple Leafs, Convenience Fee, Conversion Factor, Effective Exchange Rate, Emergency Cash, Exchange Value, Face Value, Foreign Exchange Rates, Forex Dealer, Forex Exchange Rates, Forex Rates, Gold Coin, Gold Coins, Ripoff, Royalties, Swiss Franc, Swiss Francs, Yahoo Finance
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Tuesday, May 8th, 2012

John asks…
Forex Market Manipulation – How easy is it for Brokers to Manipulate Currency Rates & Feeds?
Most of my trades are in the London and New York session.
admin answers:
If you’re dealing with a market maker then it’s quite easy for the broker to manipulate feeds and delay orders. ‘Dealing desk execution’ delay is the scourge of low cost forex brokers.
Try placing a market order even during normal trading hours and you’ll see a 2-5 second delay in your order being executed. Limit orders are safer, but have their own limitations.
Some forex brokers give you a choice between ‘best price’ and ‘fast execution’. Look into that if you’re trading forex with a market maker.
Http://forex.ellsed.com
http://brokernightmare.ellsed.com

Charles asks…
does anyone know about forex market, i just went to a seminar they were selling the program for 4000$?
the program is how to play forex market , is it wort it? are there
any other programs?
admin answers:
There is a lot of fluctuation, play the market is risky

Joseph asks…
Someone could suggest me where to find a good course about forex market?
I am beginner and I would like to improve my knowledge, thanks
admin answers:
You can see here:
http://www.cheforex.com/corsi-forex-in-lingua-inglese/
bye

David asks…
I’m getting my butt kicked in the Forex market, can anyone PLEASE HELP ME?
I am new to the Forex scene, just started in January. I have invested $1,270 so far and I am down to a measly $340!!!!!!!!!
I have studied Japanese candlesticks, I know all the terminology, I have just grasped the concept of perallel trend lines and I am learning about the Fibonacci ratios but I am still getting hammered. Is there something I am missing about this market?
admin answers:
Hi,
Actually there are 3 main things in fx:
1. Good trading system.
2. Money management.
3. Don’t be greedy.
With $340 you can trade mini lots too. Yes, it’s difficult but you still may win.
You should trade 0.1 lot for such amount. When your trading balance reach $400-500 then you could trade with 0.2 lots; from $600-700 – 0.3 lot and etc. Start trade with 1 lot only when your trading balance exceeds $10K.
Don’t set big targets.
Try to enter not from market but by the pending Stop Sell or Stop Buy orders, which should be placed on the pick of swing.
Always use Stop Loss orders.
Set Take Profit targets and Stop Loss orders accordingly Fibonacci levels.
Don’t be greedy. Remember all even biggest journeys begin from small first step. So don’t set big Take Profit targets.
If it solaces you probably there is no one trader in the entire world who didn’t lose his first deposit. Just some of them hiding it or even afraid confess themselves.
Another very important thing – is your broker honest?
But forex trading is really most exciting and most profitable business in the world. Well, at least for me.
If you have any question please don’t hesitate and e-mail me.
Good luck!

Sharon asks…
How do you short a currency? Do you have to be in the Forex market, or can you do this through the stock…?
market?
admin answers:
U.S. Dollar
UDN <~~~ bear
UUP <~~~ bull
Do your own research to see if this is really what you want to invest in.
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Tags: Amp, Butt, Corsi Inglese, Currency Rates, Dealing Desk, Execution, Execution Delay, Fibonacci Ratios, Fluctuation, Forex Brokers, Forex Market, Fx 1, London, Market Manipulation, Money Management, Scourge, Trades, Trading Forex, Trend Lines
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