take it from a 8 year full time trading pro. systems dont work and strategies end up loosing because market conditions are different everyday. no two days are exactly alike. what you need to do is create your own signal trigger that tells you when to get into the market.
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I am also keen to know the requirements for brokers who are ECN, STP, others unknown to me yet
Many literature mentioned slippages and lack of market volume information by market makers
According to google, it’s somewhat of a gray area
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I am also keen to know the requirements for brokers who are ECN, STP, others unknown to me yet
Many literature mentioned slippages and lack of market volume information by market makers
According to google, it’s somewhat of a gray area
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One of the finest strategy will be to BUY low and SELL high ………………….
Please understand there are hundreds of people applying numerous hundreds of strategies and still to make serious money — – to put things into perspective!!
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One of the finest strategy will be to BUY low and SELL high ………………….
Please understand there are hundreds of people applying numerous hundreds of strategies and still to make serious money — – to put things into perspective!!
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Okay, so, currently I’m 18 and I’ve looked into different possibilities of how I could become a millionaire using the forex market as my vehicle. I have discovered that using 1:100 leverage or even 1:50 - 1:25 is a bad idea if you want to be safe about it, and using a more modest 1:10 leverage instead is best for my chances of success.
What I’ve also discovered is that the forex markets trends last months or even years. So, my plan is as follows:
1) Start with $1,000 in my new forex trading account.
2) Use 1:10 leverage always to reduce a lot of risk.
3) Use a stop-loss of all my trading capital in every trade.
4) Keep the minimum take-profits as long as its more than what my commissions would be.
5) Just follow monthly chart trends, i.e. if the trends gone up for the past year on a yearly chart, and it shows it in a monthly chart that its going up as well, just follow the trend up along with it and keep on going up until I think its going to stop going up by taking advatage of lots of small take profits along the way.
6) Be aware of economic news and reports.
Example:
Say the GBP/USD is trading at £1.0000-$1.5000, and I place a bet to buy GBP/USD at this price at a 1:10 leverage, or $15,000 worth of pounds, (£’s) and I set a take-profit of, say, $15 or 10 pips and a stop-loss of my whole $1,000 and and keep on doing this, taking profits by trend trading and make this same $15/day for the 6 days the FX market is open a week, or $90/week x 52 weeks = $4,680 in 1 year + my original $1,000 = a 568% return for one year.
After I have achieved my 568% for 1 year, reinvest all capital and get another 568% compounded on top of that. So, it works as follows:
year 1) $1,000 up 568% = $5,680
year 2) $5,680 up 568% = $32,262.40
year 3) $32,262.40 up 568% = $183,250.43
year 4) $183,250.43 up 568% = $1,040,862.40 = USD millionaire
year 5) $1,040,862.40 up 568% = $5,912,098.74 = USD multimillionaire and GBP multimillionaire, or £3,829,025.15.
What do you say here like? Could this plan work do you think?
You’re catching a falling knife. Just buy some gold and let it set for 5 years. That or short some bonds because interest rates are going up.
Don’t screw around in currencies… you’ll lose your ass.
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Okay, so, currently I’m 18 and I’ve looked into different possibilities of how I could become a millionaire using the forex market as my vehicle. I have discovered that using 1:100 leverage or even 1:50 - 1:25 is a bad idea if you want to be safe about it, and using a more modest 1:10 leverage instead is best for my chances of success.
What I’ve also discovered is that the forex markets trends last months or even years. So, my plan is as follows:
1) Start with $1,000 in my new forex trading account.
2) Use 1:10 leverage always to reduce a lot of risk.
3) Use a stop-loss of all my trading capital in every trade.
4) Keep the minimum take-profits as long as its more than what my commissions would be.
5) Just follow monthly chart trends, i.e. if the trends gone up for the past year on a yearly chart, and it shows it in a monthly chart that its going up as well, just follow the trend up along with it and keep on going up until I think its going to stop going up by taking advatage of lots of small take profits along the way.
6) Be aware of economic news and reports.
Example:
Say the GBP/USD is trading at £1.0000-$1.5000, and I place a bet to buy GBP/USD at this price at a 1:10 leverage, or $15,000 worth of pounds, (£’s) and I set a take-profit of, say, $15 or 10 pips and a stop-loss of my whole $1,000 and and keep on doing this, taking profits by trend trading and make this same $15/day for the 6 days the FX market is open a week, or $90/week x 52 weeks = $4,680 in 1 year + my original $1,000 = a 568% return for one year.
After I have achieved my 568% for 1 year, reinvest all capital and get another 568% compounded on top of that. So, it works as follows:
year 1) $1,000 up 568% = $5,680
year 2) $5,680 up 568% = $32,262.40
year 3) $32,262.40 up 568% = $183,250.43
year 4) $183,250.43 up 568% = $1,040,862.40 = USD millionaire
year 5) $1,040,862.40 up 568% = $5,912,098.74 = USD multimillionaire and GBP multimillionaire, or £3,829,025.15.
What do you say here like? Could this plan work do you think?
You’re catching a falling knife. Just buy some gold and let it set for 5 years. That or short some bonds because interest rates are going up.
Don’t screw around in currencies… you’ll lose your ass.
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I want to know forex trading scam is allowed or not in forex market strategies?
A forex (or foreign exchange) scam is any trading scheme used to defraud traders by convincing them that they can expect to gain a high profit by trading in the foreign exchange market. Currency trading "has become the fraud du jour" as of early 2008, according to Michael Dunn of the U.S. Commodity Futures Trading Commission. But "the market has long been plagued by swindlers preying on the gullible," according to the New York Times. "The average individual foreign-exchange-trading victim loses about $15,000, according to CFTC records" according to The Wall Street Journal. The North American Securities Administrators Association says that "off-exchange forex trading by retail investors is at best extremely risky, and at worst, outright fraud."
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Forex market is complicated but still challenging to get cash from there. It’s about how to trade in this market for long term.
If you’re a potential investment player who’d like to make it big in the business and financial world, then you go for forex trading. The FOREX, also known as the foreign exchange market is one of the largest financial markets in the world with and estimate of $1.5 trillion turn-overs every day. Here are a few strategies on how to make it big in the forex market.
Strategy One: Know your market. The best way to get advantage, earn profit and minimize losses is to familiarize yourself with the market and how the whole system works. In the forex market, the players are usually commercial banks, central banks and firms involved in foreign trade, investment funds, broker companies and other private individuals with large capital. With the speed and high liquidity of asset, most companies engage in this business than in any other trading venture. Transactions are done in a jiffy; there are no membership fees and there is always the allure and promise of big, big profit.
Trading is done in pairs. The most commonly traded currencies are usually the US Dollar, Japanese Yen, Euro, British Pound, Canadian Dollar, Australian Dollar and the Swiss Franc. The more commonly traded currency pairs are the US Dollar and the Japanese Yen, the Euro and the US Dollar, the Swiss Franc and the US Dollar. In Forex trading, everything is speculative and virtual. There is no actual product being sold or bought. The activity mostly consists of computed entries made on the value of one currency against another. Say for example, you can buy Euros with US Dollar, hoping that the Euro will increase it value. Once its value rises, you can sell the Euro again, thus earning you profit.
Strategy Two: Learn the language. There are three concepts you need to know in the currency market. Pips refer to the increase of one hundredth of a percent of the value of the currency pair you are trading. Usually each pip has a value of $10 or $1. Volume is the quantity or amount of money being traded at one particular time in the market. Buying is the acquisition of a particular currency. A trader buys with the hopes that the price of the currency will increase. Selling is putting a currency up for grabs in the market because of a potential or possibility of a decrease in its value. There are also two techniques of analysis usually used in this business – the fundamental and the technical analysis. Technical analysis is usually used by small and medium players. Here, the primary point of analysis revolves on the price. Fundamental analysis, on the other hand, is used by bigger companies and players with higher capital as it involves looking at the other factors affecting the value of a particular currency. In this type of analysis, the player also looks at the situation of the country, particularly issues like political stability, inflation rate, unemployment rate, and tax policies as these are seen to have an effect on the currency’s value.
Strategy Three: Develop a sound trading strategy. Your trading strategy would depend on what kind of trader you are. The basic thing with developing a trading strategy is to identify what kind of forex trader you are. A good trading strategy should lessen, if not, eliminate losses. Plan also the size of your transactions. It is better to conduct many different trades than one huge transaction. Not only does it develop discipline, but it also lessens any possible loss as only a fraction of the capital is affected. Part of a trading strategy is developing the values of discipline and proper money management.
Strategy Four: Practice. Try paper trading, a great way to practice your skills, see how the market works and get acquainted with the software and tools being used. There are online brokers who allow free paper trades, which allows practice and experience before doing it with real money.
Strategy Five: Choose the right forex dealer. Make sure that they are regulated by the law. Take not of dealers with investment schemes that give out too-good-to-be-true-just-false-hopes promises. Look at investment offers before getting started.
Forex trading may seem easy and manageable. But the emotional stress, the demands and challenges of being a forex trader requires more than just the knowledge of the market. It requires more than just a keen and sensible head for business. It’s all about a gameplan, a strategy.
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I would appreciate if you could share your own personal experiences with me.I am thinking of setting a forum for Forex traders to discuss and share their trading experiences with each other.If you are interested, please let me know so that i can include you in the forum.
Technical analysis after combinig with fundamental announcement…Generally use a lagging as well as 1 leading indicator.
Get more info at -
http://the-best-forex-software-in-internet.blogspot.com/
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