Tag Archives: forex

How to Trade FX – Can Someone Teach Me Forex Trading?

Posted by master on 2011/05/22 None comments

If you’re wondering how to trade Forex and your just starting out you may be interested to know that there is a new automated software package on the market that does exactly this:

It routes out and detects profit from ever changing complex currency markets and then completes trades on auto pilot if you like.

If you want to learn forex online trading and want to know how to trade FX Market then doing automated trading is one way.

You will need to fix each trade with a stop loss and trading profit with every order placed and then the system will then lock in the profit and revert to a trailing stop for maximum return.

Signals work with intraday trading so you will receive 30 minute up to day trading.

Do I need capital to start trading?

This will depend on the broker you use. The usual nominal amount is $500. Just remember that with automated trading you can play for free so to speak with fake money so you can teach yourself forex currency trading and how to trade FX by picking winners before you dive in the deep end.

If you have a current metatrader account you can mesh the automated version by importing the tracing software package and then drag/drop it into your metatrader account. From there you can start playing with your automated trading kit in real time or in practice session.

Video tutorials are mostly always available with automated Forex Trading Software and these will teach you how to trade FX starting out from a trading novice level.

Click Here for all the details.

Looking for “Broker” Resources?

Posted by master on 2011/05/04 None comments

Retail forex brokers handle a minute fraction of the total volume of the foreign exchange market. According to CNN, one retail broker estimates retail volume at 25-50 billion daily, which is about 2% of the whole market. CNN also quotes an official of the National Futures Association “Retail forex trading has increased dramatically over the past few years. Unfortunately, the amount of forex fraud has also increased dramatically.”

Standard retail services include 24-hour online currency trading, and 100-to-1 leverage. Most retail brokers do not provide direct access to the interbank market, acting as dealers (buying or selling against the customer’s order for their own account) rather than as true brokers (arranging a trade for the customer with a third party). The brokers earn money by offering a bid/offer spread that is wider than the interbank spread. Retail traders should be aware of the possibility of retail forex brokers manipulating quoted spot rates, improperly trigger their clients’ stop-loss orders or charge hidden fees.

According to the Wall Street Journal (Currency Markets Draw Speculation, Fraud July 26, 2005) “Even people running the trading shops warn clients against trying to time the market. ‘If 15% of day traders are profitable,’ says Drew Niv, chief executive of FXCM, ‘I’d be surprised.’ ”

In the US, “it is unlawful to offer foreign currency futures and option contracts to retail customers unless the offeror is a regulated financial entity” according to the Commodity Futures Trading Commission. Legitimate retail brokers serving traders in the U.S. are most often registered with the CFTC as “futures commission merchants” (FCMs) and are members of the National Futures Association (NFA). Potential clients can check the broker’s FCM status at the NFA. Retail forex brokers are much less regulated than stock brokers and there is no protection similar to that from the Securities Investor Protection Corporation. The CFTC has noted an increase in forex scams.

Click HERE for all the details.