Forex Trading: What to Trade, When to Trade, and How to Trade

Trading in the worlds largest and the most liquid financial market is one of the best ways to earn money. Here, if you know how, when, and what to trade, you can be sure that you can earn huge amounts of profit. It is a fact that a lot of people who traded in this financial market became successful and became very rich almost overnight.

As a trader, you would want to grab the opportunity to earn lots of money and of course, start a trading career in Forex. The Forex market, as mentioned before, is the largest and the most liquid financial market in the world. Unlike the stock market and other financial market, Forex has no centralized location as it operates 24 hours a day at different locations around the world. Trades in this financial market are done through an electronic network.

In the past, because of the high financial requirements, Forex was only limited to large multinational corporations and financial institutions, such as banks. However, because of the advancement of the communications technology and also the existence of high speed internet, Forex in the late 90s is now available for everyone who is interested in trading in the Forex market.

Forex trading, for a beginner trader, is simply the buying and selling of different currencies of the world. This may seem simple enough for everyone, but you should also consider that a lot of inexperienced traders and some experienced traders have suffered huge financial losses in Forex.

You should always keep in mind that aside from the fact that Forex can give you a great money-making potential, Forex also has equal risks. Therefore, before you enter this market and trade, you should first consider a few things in order for you be successful in this money making venture.

First of all, you have to know how to trade currencies. In Forex trading, all you need is a personal computer with an active internet connection, a funded Forex account and a Forex trading system. There are numerous websites that offer Forex trading. In order to start trading, you have to open and fund an account first with your chosen website. After that, you can now start trading in the most liquid market in the world.

You need to have a fast internet connection in order to keep up with the updates and price movements and prevent slippages from happening. Another thing you have to consider is that as much as possible, you should register in a Forex website that offer dummy accounts so that you can practice your skills and strategies in Forex trading.

Now that you know how to trade in the Forex market, the next thing you need to know is what to trade. The Forex market involved different currencies from all over the world. It is also traded in forms of currency pairs. Here are the different currency pairs that you should consider trading in the Forex market:

•    EUR/USD
•    USD/JPY
•    GBP/USD
•    USD/CHF
•    AUD/USD
•    USD/CAD
•    NZD/USD
•    EUR/GBP
•    EUR/JPY
•    GBP/JPY
•    CHF/JPY
•    GBP/CHF
•    EUR/AUD

These are the most commonly traded currency pairs in the Forex market. It is up to you to determine which currency pair you want to trade depending on market conditions. If you do it right, you can be sure that you can earn a substantial amount of income.
The next and last thing you should consider is when you have to trade in the Forex market. Since the Forex market is open 24 hours a day, you can trade whenever you like. And, since it is the most liquid, you can get out whenever you like. It is just a matter of knowing if the market condition is profitable or if it is falling.

Forex traders are mostly speculators who try to predict which currency is going to increase in value and which currency will decrease in value. Speculators use Forex charts to spot a trend and determine when a particular currency will increase or decrease in value.

Now that you know how to trade in the Forex market, you can now open a funded account and start trading currencies.

Always remember that in all trades done in the financial market, you should also expect to suffer from losses. You should be prepared to deal with it and accept it. This is why you need a substantial amount of money to trade in Forex.

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Forex Brokers: Assisting You with Your Trading Needs

If you traded in the Forex market before or if you’re still trading now, you may have heard the term Forex broker a lot of times. However, as an individual trader, you may want to know what is a Forex broker and what they do.

Forex brokers are individuals or companies that assist individual traders and companies when they are trading in the Forex market. These individuals can really give you that extra edge you need in order to be successful in the Forex market. Although they will be trading your funded account, all the decisions are still yours to make if you want to.

Forex brokers are there to assist you with your trading needs in exchange for a small commission from what you earn. Here are some of the services that a Forex broker can give you:

•    A Forex broker can give you advice regarding on real time quotes.

•    A Forex broker can also give you advice on what to buy or sell by basing it on news feeds.

•    A Forex broker can trade your funded account basing solely on his or her decision if you want them to.

•    A Forex broker can also provide you with software data to help you with your trading decisions.

Searching for a good Forex broker can prove to be a very tedious task. Since there are a lot of advertising in the internet about Forex brokers, Forex traders get confused on which Forex broker they should hire. With all the Forex brokers out there that offers great Forex trading income and quotations, you will find it hard to choose a good and reputable Forex broker.

With a little research, you can find the right Forex broker who can be trusted. If you lack referrals for Forex brokers, you can try and do a little research of your own. The first thing you need to find out about a particular Forex broker with the amount of clients they serve. The more clients they serve the more chances that these brokers are trusted. You should also know the amount of trades these brokers are conducting.

Knowing the broker’s experience in the Forex market is also a great way to determine if he or she is the right broker to hire. Experienced Forex brokers will increase your chances of earning money from the Forex market.

If you have questions or complaints, you should call or email the company and ask questions regarding their trading system. You should never be uncomfortable doing this. Besides, they will be the one who will manage your money. And, it is your right to know about what they are doing with your money.

When choosing a Forex broker, you should also consider their trading options. You should also know that Forex brokers are different from what they can offer you. They differ in platforms, spreads, or leverage. You have to know which of the trading options is very important to you in order to be comfortable when you trade in the Forex market.

Most online Forex brokers offer potential clients with a demo account. This will allow you to try out their trading platform without actually risking money. You should look for a demo platform that works just like the real thing and you should also determine if you are comfortable with the trading platform.

Look for the features you want in a trading platform in order for you to know what to expect if you trade with them. If you are comfortable with a trading platform, you should consider trading with them, and if you are not, scratch them off your list. This is a great way to test their trading platform and not risk your money.

If a Forex broker is not willing to share financial information about their company, you shouldn’t trade with them because they are reluctant to share company information. They should answer your questions regarding on how they manage their client’s money and how they trade that money.

Always remember that if you see an offer that’s too good to be true by Forex traders, it probably is too good to be true. The Forex market is a very risky place to trade and Forex brokers must tell you that there are certain risks involved when trading in the Forex market. Avoid hiring a Forex broker who says that trading in Forex is easy and a very good money making market with very low risks.

These are the things you should consider when you look for a Forex broker. If you find that right broker, you can be sure that you can really earn money.

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Forex Trading Course: A Must for Forex Beginners

In the world’s largest financial market where exchanges reach up to trillions of dollars each day, many people would really want to participate in this market. Aside from being the largest financial market in the world, Forex is also the most liquid market in the world where trades are done 24 hours a day.

A lot of traders have become very rich trading in the Forex market. And, many people who trade in the Forex market everyday have found a great way to replace their day jobs. Some even became millionaires almost overnight by just trading in this financial market.

Trading in the Forex market can be very attractive. However, you should also know that there have been people who suffered extreme financial losses in the Forex market. It is true that the Forex market offers a very good money-making opportunity to a lot of people, but it also has its risks.

It is a fact that people who didn’t have the right knowledge and skills trading in the Forex market suffered huge financial losses and some even went into debt. So, before you enter the Forex market, it is essential that you should have the necessary knowledge and skills as a Forex trader in order to minimize the risk of losing money and maximize the potential of making money.

Many people who were successful in the Forex market have went through a Forex trading course to get the knowledge and skills needed to successfully trade in this very liquid and very large financial market.

In a Forex trading course, you will learn about when it is the right time to buy or sell, chart the movements, spot market trends and also know how to use the different trading platforms available in the Forex market.

You will also be familiarized with the terminologies used in the Forex market. Even the basic knowledge about trading in the Forex market can be a great help with your money-making venture in the world’s largest market.

There are different Forex trading courses available, all you need to do is choose one that suits your needs as a trader. There are crash courses where all the basic things about Forex will be taught to you in a short period of time, full time online courses, where you will learn all about Forex through the internet and there are also full time real life classroom courses where you can learn the ropes about Forex in a real classroom with a live professor.

You can also become an apprentice. However, in order to learn a lot about Forex as an apprentice, you need to make sure that you have a seasoned Forex trader who can share a lot of things to you about the Forex market.

Here are some of the basic things you should look for in a Forex trading course in order for you to get the sufficient knowledge about Forex trading:

•    Margins

•    Leveraging

•    Types of orders

•    Major currencies

A good Forex trading course will also explain a lot about the fundamental and technical analysis of charts. As a trader, knowing how to analyze a chart is an essential skill that you should have. So, when you are looking for a Forex trading course, you should look for a course that offers fundamental and technical analysis instruction.

Stress plays a vital part in Forex traders. Knowing how to deal with stress is also a skill that you should develop. A good Forex trading course should teach you how to deal with stress and trade effectively and efficiently.

As much as possible, you should look for a Forex trading course that offer actual trading systems where students can trade real money on the Forex market or at least trade on dummy accounts in a simulated Forex market. This hands-on experience will greatly benefit you. Besides, the best way to learn about anything is by actually experiencing it. Live trading and simulations should be offered in a Forex trading course.

So, if you plan on getting involved in the Forex market, consider finding all these things in a Forex trading course. Developing the right knowledge and skills in trading in the world’s largest and most liquid market in the world will definitely help you make it to the top and achieve your dreams as a Forex trader.

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Forex Trading: The Best Hours to Trade

If you want to earn extra cash aside from the cash you earn from your regular job or your business, maybe it’s time to you to enter the financial market. One kind of financial market that made a lot of people earn a lot of money is the Forex market.

Aside from the fact that the Forex market can give you an opportunity to earn a lot of money, you should also know that Forex is the largest and the most liquid financial market in the world with trade exchanges that amounts up to trillions of dollars each day.

Forex also operates 24 hours a day and therefore making it the most liquid market in the world.

However, Forex is also a very risky market. Besides that fact that it generated a lot of people to become rich, it also made a lot of people lose large amounts of money. Therefore, you should consider that you should think twice before entering this financial market. You should have enough knowledge and skills before you enter this market. Part of the knowledge that you should know the best time you should enter this very liquid and very large market.

Sure you know how to trade, you know what currency pairs to trade, and you even know how to read charts. Perhaps, you also know one or two strategy when trading in the Forex market. However, you should also consider the fact that because the Forex market operates 24 hours a day, you need to know when you should trade.

Every minute in the Forex market counts. One minute you notice a currency is increasing in value, the next you notice that the same kind of currency you noticed a minute ago is decreasing in value. This is why you should consider the fact that Forex market is a very dynamic market with lots of price oscillations.

Minute by minute events are very important in order for you to be successful. Because of this feature that is found in the Forex market, you, as a Forex trader, can enter the market a number of times a day. This will allow you to earn some profits after every number of trades you do and perhaps maybe even lose one if you made the wrong trading decision.

Firstly, you have to remember that the Forex market beings at Sunday at 5PM EST to Friday at 4PM EST then it beings again at 5PM EST. Trading begins in Forex at New Zealand next at Australia followed by Asia, in the Middle East, Europe and ends in America. The major markets in Forex are London, Tokyo and New York with trading activities the heaviest when major markets overlap.

Basing from the times, you will see that there will always be someone anywhere in the world who is buying and selling currencies. You will see that when one market closes, another market opens. Trading in the Forex market is 24 hours a day.

Forex market transaction volume is always high during the whole day. However, it peaks the highest when the Asian market, the European market and the US market opens at the same time.

These are the trading hours in the Forex market you have to trade in, in order to get the highest possible trades. This are the hours that are also the most profitable.

Here are the open market times that you can use as reference:

•    New York – 8am to 4pm EST
•    London – 2am to 12nn EST
•    Great Britain – 3am to 11am EST
•    Tokyo – 8pm to 4am EST
•    Australia – 7pm to 3am EST

If you look at the schedule and study it, you will see that there are two instances where two of the major markets overlap on trading hours. These are between 2am and 4am EST with Asian and European markets and 8am to 12pm EST with European and North American.

These are the things you should remember when trading in the Forex market. It is not only important that you know how to trade and know some strategies on Forex trading, But, you should also know when is the best time to trade in this very large and very liquid market.

If you follow all these, you can be sure that you can earn a potentially higher profit than on other trading times.

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Effective Advices for Forex Trading Beginners

Not all people are familiar with forex trading. In fact, most people think that when you talk about forex trading, it has something to do with stocks or bonds. But forex trading is different from stocks or bonds. It involves the trading of currency pairs.

Currencies are traded in pairs, and you can't find a particular currency without a pair. The major currencies being traded are chosen above the rest because they are stable and have a greater value than other foreign currencies.

Every time a new comer arrives in the market, the very first ones to take notice of them are what you call frauds. That is why, if you're new in forex trading, you need to take some advice. It doesn’t hurt to ask for advice from the ones who are already engaged in forex trading. In fact, you can make use of their advice for your own good, and even to your advantage.

Since forex trading is globally available, it is not surprising if there are frauds that are able to infiltrate the financial market. To safeguard people from these frauds, they must be made aware of these growing fact, so that they will be able to protect their trading career.

The opportunities that forex trading provides for different individuals, firms, and organizations is growing rapidly every year. And accompanying this growth is the widespread growth of different scams related with forex trading. But you should not worry because there are a lot of legitimate companies or firms that can help you in forex trading.

The best thing to do is to find these legitimate companies to stay away from fraudulent ones. However, most new traders fall prey to these scammers because of their savory offers.

A piece of advice: stay away from companies or firms which advertise high profits for minimal risks. In today's financial market, if you want to earn high profits, then you are likely subjected to high risks as well. These things always go together.

Always stay on the safe side. If you're looking for a forex trading broker, and of course, each broker is part of a certain company, make sure that you select a government registered company. In signing any contract with them, double check if they are registered or certified brokers. This is a good step to undertake in order to prevent any misfortune that you might encounter in the future.

The job of reducing the risk is entirely yours, not that of the broker; so if the company offers or promises little risks, guaranteed profits, and the like, that is a sure sign that they are there to make a fool out of you.

Professional trader or not, a little use of the common sense can go a long way.
Before doing any forex trade, do your homework. Research all the necessary details about trading. Ever heard of inter-bank market? Stay away from companies which lure you into trading in the inter-bank market because the currency transactions are negotiated in a wobbly network of large companies and financial institutions.

If a certain company does not disclose any information about their background, that should serve as a red flag. It means that you should continue doing transactions with them. Nor is it advisable to transfer/send cash through the mail or the internet. Practice caution in everything you do, and you'll be more than sure that you are always safe.

Fraudelent companies often solicit services and advertise soaring pressure tactics to attract you in participating or joining their services. Offshore companies which guarantees no risk and return of profit is a big no. Always be skeptical and don’t jump in to any instant offer that comes your way.
You can decide for yourself. After all these pieces of advice, it will still depend entirely on you whether you will apply it or not. You are the one who will be subject to fraudulent individuals or companies. If you want to protect your forex trading career, carefully consider these things.

With patience and a little diligence, you can expect for a successful forex trading career. These frauds which abound in the financial market will not succeed if only people are alert and skeptical.

 

 

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Foreign exchange market is different from the stock market

The foreign exchange market is also known as the FX market, and the forex market. Trading that takes place between two counties with different currencies is the basis for the fx market and the background of the trading in this market. The forex market is over thirty years old, established in the early 1970's. The forex market is one that is not based on any one business or investing in any one business, but the trading and selling of currencies.

The difference between the stock market and the forex market is the vast trading that occurs on the forex market. There is millions and millions that are traded daily on the forex market, almost two trillion dollars is traded daily. The amount is much higher than the money traded on the daily stock market of any country. The forex market is one that involves governments, banks, financial institutions and those similar types of institutions from other countries.

What is traded, bought and sold on the forex market is something that can easily be liquidated, meaning it can be turned back to cash fast, or often times it is actually going to be cash. From one currency to another, the availability of cash in the forex market is something that can happen fast for any investor from any country.

The difference between the stock market and the forex market is that the forex market is global, worldwide. The stock market is something that takes place only within a country. The stock market is based on businesses and products that are within a country, and the forex market takes that a step further to include any country.

The stock market has set business hours. Generally, this is going to follow the business day, and will be closed on banking holidays and weekends. The forex market is one that is open generally twenty four hours a day because the vast number of countries that are involved in forex trading, buying and selling are located in so many different times zones. As one market is opening, another countries market is closing. This is the continual method of how the forex market trading occurs.

The stock market in any country is going to be based on only that countries currency, say for example the Japanese yen, and the Japanese stock market, or the United States stock market and the dollar. However, in the forex market, you are involved with many types of countries, and many currencies. You will find references to a variety of currencies, and this is a big difference between the stock market and the forex market.

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Do You Have A Back Up Plan?

I know a woman in her sixties. She worked for a company for a little more than a decade as an administration and office assistant for a staff of one hundred sales people, who loved her dearly. She always made sure all the faxes got to their desks; the stationery stock was full and each staff member had what he needed.

 

Beyond her job description, she was like a mother to all of them: making sure the toilets got cleaned, old food was removed from the fridge and decorating the entire floor which the department occupied. She worked hard and never complained. She was always smiling, friendly and polite.

She felt good about being a 'mother' to all the people who entered and left that department. She was comfortable with her position. No-one else could do the things she did. And she did them better than anyone else in the building.

 

One day, she went to work as usual. After doing her morning chores, she was invited to the office, where she was told her services were no longer needed. The company was undergoing certain cost-cutting measures in every department and unfortunately, her role would have to be sacrificed. She was then asked to leave the building as soon as possible. She was assured, however, that before having made the decision, every attempt had been made to find a position for her somewhere within the company.

 

She has financial obligations to fulfil and she still hasn't saved enough for her retirement. She still has credit to pay off and she was saving for a trip overseas, something she never got around to doing in her younger years. She wanted to save up to establish a book-selling business. Suddenly, she would have to re-evaluate her plans. Losing a job and nearing retirement age, she will have to relinquish some of the things she had dreamt for herself.

 

I am sure you have heard hundreds of similar stories like these. Just five months before writing this article, I had already read about companies cutting costs by laying off jobs. Their main reason is to remain competitive, so they would not have to raise the prices they charge to their customers.

 

Companies are outsourcing jobs overseas because the labour costs in other countries are relatively cheap compared to the local currency and sometimes because of significant skills or technological advantages. Other businesses lessen staff when sales drop and they can no longer sustain to pay the same number of people they have on their payroll. No organisation – not even a big, established business – is immune from the need to become leaner in an ever-increasingly competitive market environment.

 

In the past, most people believed the companies or the governments – whom they work for – could guarantee them a job for life. Nowadays, I think more and more people are becoming increasingly aware that expecting to have a job-for-life is unrealistic. It is a dire predicament to be working everyday, taking care of someone else's business and realising that at the end of one's career, years of service do not guarantee one's well-being. Because of this, I believe that people are now looking to improve their chances of having enough funds to meet their needs and wants after retirement.

 

I think there is a dawning awareness that the ultimate responsibility for one's own well-being lies within each individual. People are beginning to understand that their boss or the company they work for does not have an obligation nor the ability to ensure that they are taken care of when they finish working for them.

According to an article written by John Roskam*, based on a forthcoming Institute of Public Affairs (IPA) Backgrounder on self-employment and the self-reliant society, the trend to self-employment will speed up in coming decades. Five reasons explain this change:

1. Our societies will continue to develop knowledge-intensive and service industries.
2. Jobs of the future need more education; however, better educated workers might opt to work for themselves instead.
3. Older workers are more comfortable with being self-employed than the younger workers, which might indicate individuals would prefer to work for themselves as they grow older.
4. Individuals want more control and flexibility over their working arrangements and self-employment allows for this.
5. Individuals are more willing to assume responsibility for the decisions that affect their lives and their families.

In addition to this trend, more and more people are now seeking to gain greater control over their financial assets.

 

What we can all learn from this article is the idea that we do not have to rely on our employers to be there for us when we desperately need them to pay us our periodic paycheques at the end of our working days. There are alternatives and, while we still can, I believe we owe it to ourselves and our families to have a back-up plan and look at every single opportunity available. The question for you is this: Do you have a back-up plan?

 

 

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