Online Forex Trading

I am an undergrad student with a 3.7 GPA in an finance program ranked in the top 10 nationally. I will graduate early (this December) and am also studying to take the CFA level 1 in June.

I only tell you this so you know a little about my background and understand I am prepared to LEARN how to trade. I am not looking for a get rich quick scheme, but rather, want to study the art of trading until I can consistently make positive returns on FOREX during my spare time. Of course, who knows, if it goes well maybe it will become my career. More than anything though, it seems really interesting and I would like to learn more.

So, what books etc do I need to read to understand how to trade on FOREX? I understand it will take some work, but can anyone lay out a plan to follow in order to become a successful trader? For example, read x,y,x, while trading on a demo account, then open a real account and do x,y,z etc.

Please don’t recommend trading programs like FOREX tracer etc! There is no way I am going to let a program control what happens to my money and, to my understanding, most all of these programs are scams. I have to go with the old adage, if it sounds too good to be true, it probably is.

Also, for any traders out there…

What’s your holding period return for a typical month and how many hours/day do you trade to generate that return?

If I have limited capital to trade with, will this significantly impact my ability to utilize effective trading strategies?

By: John Ruddell

By: Kelly Price

…. indicators used, typical stop loss level, typical profit limit level, time frame for trade, etc..) I don’t care if you trade on the long term or short. I JUST NEED SOME HELP, and there is just so much GARBAGE on the net claiming to Be winning strategies, but I am already too old, and I don’t have the time to waste trying to figure out what works. I need to go DIRECTLY to what works!

I know that no strategy is garunteed, but can you tell me what is working for you!

THANKS!!

I am thinking about getting forex Fap Turbo. I want to know is it good for beginners. t is good? I am a noob and want to hear from anyone who has purchased it. I read the reviews but I am still not sure. I have heard only good things about it but then that’s to be expected from reviews.

I’m currently in the process of selecting the right broker, and I’ve heard that ECN (or non-dealing table) brokers are the ones who will not try to sabotage your trades, as it would not be in their interest to do so.

But how easy/difficult is it to actually start out with the broker? Do you simply register on their website, or do you have to actually speak with them on the phone?

Aside from the minimum deposit, are there any other requirements? What I mean is, do you have to meet certain requirements in order to work with a broker, or is it simple to sign up with one?

It is my understanding that choosing the right broker is the second most important step in succeeding in this market, next to having an effective and proven trade strategy/plan.

Many automated forex trading software systems are available in the market. They are very much popular now-a-days because they are now considered as an easy way to make money. All such Forex robots promise to make their users rich overnight. All promotion campaigns attract that the users in a sense that they can make a lot of money just by investing money. But these all are not true in fact, many of these are scams. Therefore one must have to be very much careful during purchasing such software.

When you want to buy automated forex trading software, check all the available software systems thoroughly and after then select the best one out of them. The following mentioned five points must have to be kept in mind in order to save from scam.

1. Before starting research, think about the type of system that you want.

Which system will exactly suit you? After deciding this, you can have the idea about what exactly you need and this helps you to do a much focused research that also saves your time and effort

2. Try to search out your desired system through your favorite search engine.

Type the type of system you want on your search engine and then press enter so that the search engine populates the matched links for you.

3. Visit forum to see what other trader’s opinion about your selected product.

After obtaining the list just go to different forums and read out the comments of other traders about the product that you have selected. Forums act like nice places where you can see unbiased feedbacks of different users. There many participants place their comments about different products like whether they are up to the mark or not, what problem they are facing while operating them etc. Some times there also share their earning information and gives very true and nice comments. Through this you can have an idea about which companies are credible or which are not. Actually participants share their experiences with all the other people who visit such forums.

4. Go for such system that give money back guarantee and offer demos.

The swindlers never offer money back guarantee. The vendors who have a solid product never hesitate to sell it with guarantee. And they want to gain your trust by offering demo of their products.

5. Take advice from a professional.

This is very important because a professional and experience person can guide you better way. They may go through many of such products so their experience must be very useful for you.

It is recommended that whenever you want to buy an automated Forex trading robot consider the above mentioned criteria.



By: Adam S. Jones

i am looking for forex trading software and the site has to have many choices to pick from.

Before stepping into the Forex trading market, you need to have a certain strategies in mind. A well thought out Forex trading strategy can be your key to success. It can also keep you on the safer side and help to minimize your losses.

Implement a Proper Trading Plan and Don’t Trade Beyond Your Means

It is very important to have a trading plan and when dealing in Forex trading. Once you have a plan, let nothing deter you from it. Remember, there is no place for emotions in trading. Following your emotions blindly is a sure shot recipe to disaster. Whenever you trade, it should be in a cool and calm frame of mind.

A very good Forex trading strategy is that you should only speculate with money that you can afford to lose. Not to say, that you want to lose anything, but whenever you invest money or trade in it, you should always use money that you can do without, money that is in excess of your requirements. It is never a good idea to touch upon the money that you require to run your house and fulfill the basic requirements of your house.

Understand the Trends of the Market

In Forex trading, market trends are your closest friends. If you are able to understand trends and make somewhat accurate predictions, you will be quite successful as a trader. Understand that there may be short term fluctuations in the currency values. After all, the market is volatile. However, you should always refer to the long term trends and not be worried about periodic ups and downs.

Another important Forex trading strategy is riding the Forex market till it shows signs of turning around. Do not be greedy and ride the win too long, else you might just be caught off guard and lose money.

Trade Wisely

A lot of newcomers tend to look for some signs or leading indicators that will help them make a good trading decision. The truth is, in the Forex market, there is no guarantee that you’ll be able to predict the future accurately. Some software can help you make calculated speculations, but they could easily swing one way as the other.

A sound Forex trading strategy is that you should stick to popular currency for trading and stay away from thin market. Since there is very little public participation in the thin market, you will not be able to liquidate your position easily. Moreover, trading in too many markets is not advisable. Stick to the popular currency pairs till you learn to do better.

Update your Knowledge

Lear, learn and learn some more – and that’s a Forex trading strategy that will never fail you. Work towards gaining in depth knowledge in this field, so that you can become an astute trader. Read up as much as you can on the subject and add to your existing information. While a newcomer can get by with some general guidelines and tips, a seasoned Forex trader will need more knowledge to make decisions.



By: Alan Lim