Professional Forex Guide, Helpful Tips. Useful Answers

I am testing many different expert advisors in the Forex but want to find one that really works without risking a lot of time and money. Is there any advice out there? Thank you

Answer:

Using the Mtpredictor’s technical analysis Elliot Wave Principle software, Bsmtprediction provides Forex Traders with FREE access to AUD/USD, EUR/GBP, GBP/USD, EUR/USD, NZD/USD, USD/CAD, USD/CHF, EUR/JPY, GBP/JPY & USD/JPY daily currency forecasts through this website. At Any Time / Any Day (we’ll straight away post the signals here in real-time if there’s any triggered) 1 hour, 4 hours & daily time frame forecasts are published on this site. The predictions are good from the moment they are published until either it reached the take profit target, hitted the stop loss or another new prediction of the same currency & timeframe unveils on the same / following day. Essentially, the prices shown are for an unknown period.. That’s why we encourage you to subscribe our FREE Google Groups newsletter to get the latest signal updates sent to your e-mail from the very 1st minute it surfaces the net..

Does anyone know where I can get a list of the most successful Forex traders? I would like to see how much they have made and learn about how they trade.

Answer:

They all hang out on a web site called ” Forex Social” but the best of the best have limited contact with the general public, you should do a google search on the company ” Forex Ring Leader , they have been around for about 4 or 5 years and have the best trading track record with solid proof!

So if you have time Google these company , Jeff Parks , Forex Social , Forex RingLeader ,

hi, i have opened a demo account in forex trading. i want to know if it is necessary to print forex trading graph and analyse everyday.please suggest me i am new in this field.

Answer:

If you want to do some research it is necessary otherwise it is no need to keep print another option is that you store in your computer instead of print

I know that a stock option is a contract that gives the holder the right to buy (or sell) shares, usually 100, but what about Forex options do they give the holder the right to buy (or sell) 100 lots of a currency?

Answer:

Most of the FX options are traded in the OTC market. It’s huge and it’s filled with big players. In fact, the notional size of the OTC options traded in a year is in the 100′s of Trillions of dollars. Unfortunately, you can’t participate in this market because it’s for institutions.

You can buy options on FX futures contracts. In lots of ways these are cleaner anyway, because there is no settlement risk and no counterparty risk. Also a futures contract quotes the forward price of the currency (almost, if you’re a pro you will note that there is a subtle difference). The forward price of the currency is the price you could lock in by converting at the current exchange rate and investing in risk-free bonds denominated in the foreign currency. Basically, currency is expected to depreciate in countries with high interest rates relative to currencies from countries with low interest rates. It makes life easier to not have to worry about forward pricing when you are trading options on FX.

Anyway, an option on an FX futures contract gives you the right to buy or sell one futures contract at the strike price. Thus if you exercise an in-the-money call (put) option on an FX futures contract, you get a long (short) position in a futures contract and some money in your margin account. FX futures contracts have well-defined sizes, for example, a contract on the Euro is 5,000.

You need to know that these markets are filled with people with very deep understandings of the options and FX movements and it is unlikely that you will be able to beat them for money.

I am wanting to start investing some money, not to get huge profits, but more to learn a bit about investing, business etc.
I was wondering, what is “easier” to start with; stock trading, or forex trading, and what are the pro´s and con´s of each.
Thank you!

Answer:

Easy to start forex, funds, indexes, commodities
and free real money start

easy to study make profit http://www.forexth.com

Where can I usethe best free forex charts without downloading anything. I want it to be 100% on my browser. And I would like prefferably signals as well.

Answer:

What your looking for is at WWW.FXATRADE.COM

They have pretty much everything you need to trade. They have live updated signals BY VIDEO!! They also have quotes, pivot point signals and really neat software for Metatrader 4. The company is called fx-agency forex trading.

Is forex trading worthwhile as a second income generator?

Answer:

Well you could take courses on US and World economics, read some financial economies books and/or know when and the fundamental news that affects price swings are reported. Stay clear during these volatile times because they can take out your stop in a heartbeat and a few beats later go back the other way. And remember that the news could already be mostly priced into the current price.

http://www.forex.com/learn.html

Link will answer many questions and answers you should know. I have 3 accounts (never put all your money/eggs in one account/basket). You can start with 0 when you can afford to open account. Since you are just starting you will lose money if you don’t learn the basics, first. #1 best tip, don’t trade your real money until you try trading demo account. When you can trade a demo for about 2-3months daily and make money then if you feel ready slowly start trading real money. So making and/or losing money depends on how well you can trade. For some it very profitable, for many it is not. So trading with the right tools and knowledge can become a very good income(s) for short and long term goals. And trade with the current trend.

I use Lightning Strikes Trading System for trading in any time frame and it works on forex, stocks, bonds, etf’s, mutual funds, etc… They have 3 free training sessions a week and you don’t have to buy the software to join in the live chat and text. They focus their training/trading on the Forex markets major currencies. You can even watch some recorded past live sessions. Here are some past charts that I used.

http://f1.grp.yahoofs.com/v1/MB16R0zjjaZ…

http://f1.grp.yahoofs.com/v1/MB16RxjOUQt…

There are 7 indicators (2 short, 2 medium, and 3 long term) and if volume is reported another one is added (on balance volume). Plus whatever time-frame is used the 2 green horizontal lines are the support and resistance for that time frame. So when indicators are all touching the bottom price is at or very, very near support. At top is at or very, very near resistance. Which helps my entry/exits and risk/reward ratio.

http://f1.grp.yahoofs.com/v1/MB16R9Wv-wt…

http://f1.grp.yahoofs.com/v1/MB16R9wSKdV…

http://f1.grp.yahoofs.com/v1/QCt6R2fYIj6…

http://f1.grp.yahoofs.com/v1/QCt6R3R0VQe…

If you can not view charts above or want to see other charts, I can email them.

Start learning the basics of fundamentals and technical analysis so you will be more informed in your investments. You can find all the basic info you need to learn on websites for free.
This site should give you a good start.

http://finance.yahoo.com/education

Try what you learn on demo sites. They can be a very fun but educational way to learn from mistakes. If you pick 75% right with play money then you might be ready to start slowly investing.

http://simulator.investopedia.com/

http://simulator.zacks.com/

http://www.fxcm.com/open-free-100k.jsp

http://www.alpari-idc.com/en/metatrader4…

Or just google for more.

Here are my favorite sites.

http://stockcharts.com/

Has basically all you need from fundamental to technical terms. Plus stock screens, charts, public chart lists, and much more useful info.

https://www.fidelity.com/

Has good learning resources.

http://moneycentral.msn.com/home.asp

In addition to yahoo finance.

http://www.reuters.com/

For news and more.

http://www.marketwatch.com/default.aspx

For news and more.

http://www.valueprime.com/index.php

For rating stock risk/reward ratio and reports.

http://www.barchart.com/

For investing in more than stocks.

http://www.investopedia.com/

For more great learning tools.

http://www.lightninglive.com/

For best software timing your entry/exits any time frame for day traders and long term investors.

Others worth exploring.

http://www.equis.com/

http://www.stockta.com/

http://www.secform4.com/

Best Wishes,
Burt Whitley

How to get more pips in forex trading? How about using autotrading such as Expert Advisor (EA)? Have anyone can share profitable EA for free?

Answer:

Common Sense is right.

To make money in this market, you need to pay your dues first–learn everything there is to know about making money in forex trading.

Richard Dennis once said that even if he were to publish his trading secrets in the leading newspapers, not everyone who will use it will make money.

There are traders who make money trading with the simplest trading methods. As Alexander Elder said, the three keys to long term success in the markets are Mind, Method and Management.

The goal of a good trader is not to make money, but to trade well.

Good luck!
- jim http://jsforex.blogspot.com

I trade only stocks right now but I’ve heard people swear by trading futures or forex. I’ve never tried either. Is one more volatile and therefore easier to make more money?

Answer:

The main difference between trading stocks and futures is the leverage involved.

In a stock margin account, you can trade at 2:1 or 4:1 leverage. In a futures account, you can trade the E-mini or Dow mini futures with 20:1 or 40:1 leverage. This causes your profits and losses and account value to be extermely volatile, and very dangerous if you trade at maximum leverage. In a futures account, you can lose more than you have invested.

Forex is just another form of futures account, except here, the maximum leverage is 200:1. Wo, how much trouble can we get into now? You have to be aware of the economic reports for the currencies traded and the US reports, like GDP, retail sales, and particularly interest rate adjustments and differentials. Unless you are willing to trade gap trades, the opportunity is very little here compared to the huge move from the report. These trades can be very plodding, in between reports. Or some big news announcement will break, or someone declares war, or sets off a bomb, and blows you completely out of the trade. Trading the forex is not for the beginner or faint of heart. Find a good simulator and practice, practice.

Hello everyone,

I’m wondering if it is possible to win money from FOREX with only changing currencies.

For example, we have 10000 USD.

We change it to EUR. Than we change the EUR to JPY and we have like 10000,03 $.

Is there any moment to catch (possibly with a local script) that this three rates make this possible.

Thank you.

Answer:

transacting in currency speculative market is like bird hunting in lions land.
in your above calculation you had not considered of deductible charges on transaction.