Your Questions About Forex Historical Data
December 6, 2011 by Forex Guide
Filed under Forex Account
William asks…
Need RBI Forex rates(USD to INR) for financial Year 2007-2008?
Hi,
I need help with getting historical Forex data(USD to INR) for financial Year 2007-2008(1st April 2007 – 31st Mar 2008). I need this desperately for accounting. Can anyone please help me with some good and reliable website link?
Forex Guide answers:
For current rates follow the link
http://www.forexrealm.com/forex-rates/
I am i cannot find it for financial Year 2007-2008..
Robert asks…
Free Historical Currency Quotes?
Where can free historical currency pair quote information be obtained? The historical data needs to be in a text or spreadsheet format and quotes should be available for open, close, high, and low for any given day over an extended period. Ideally I am in search of quote information for the IQD/USD Forex instrument however access to other Forex, commodities, and futures quote data would be desirable as well?
Forex Guide answers:
Http://www.fx-forex-trading.com/database.htm
They have most currency pairs, going back quite a few years.
George asks…
How to automate strategy back-testing in Forex Trading?
I am aware of MQL4. One can create an expert advisor to automate your investing, but what I want is to test my strategies with historical data. For example, what would have happen during the last 5 months if I would have sold here and bought here using such and such indicators in every single time a certain criteria was met.
Is there a way to do this using MQL4? or is there any other way to do back-testing in Forex?
Thank you for your time and please don’t try to sell me anything.
Forex Guide answers:
Take a look at http://www.wealth-lab.com and see if this will help you.
Cheers,
Paul
Sandy asks…
Will a high exchange rate in currency be ignored only because it appeared shortly?
Hi,
On 8Jun, I got a USD/MYR currency exchange rate of 3.5460 through http://www.xe.com/ict/, however when I referred to the historical data in other website such as:
http://www.fxstreet.com/forex-tools/rate-history-tools/
and other websites illustrated by graphs, neither of them showed 3.54.
So just wondering is it possible that a rate will be ignored only because it appeared shortly?
Also, if I am looking to trade with bank, which website suit me better considering the above 2 links.
Sorry if it sounds like a stupid question.
Big thanks for help.
Forex Guide answers:
You are refering rates from different websites, it’s common that the rates will be different. And rates from such websites is only good for references, although I have no idea about your purpose for the rates.
In fact, even banks are giving different rates. For MYR, you will need to refer to bank based in Malaysia, as MYR can’t be traded outside Malaysia.
John asks…
What do you think is a better business idea?
So…sort of as a part of my new year’s resolution – i am now hesitating between 2 potential ideas that i plan to develop – aside from my day job. That is:
Idea no 1: A website which charges just $1 commission for trades on complex financial instruments: Like CFDs, Forex Options, Bonds, etc.
Problems with this idea: At least a few hundred thousands to start with since even a license in Antigua and Barbuda for such thing would cost $50k + and i need also substancial capital to cover leverage. But i have just about $40k to start with and my credit rating isn’t good to hope for a bank business loan.
Idea no 2:
A professional finance software program: which tries to predict stock prices via neural networks. The same program will test strategies on historical data and calculate things that aren’t available online: Like SABR volatility or Bond option prices.
Problems: Do people really need such things? I guess most traders are cocky enough to believe that they need only a chart and a wikipedia article to become a succesfull trader?
So…what do you think? Any advice will be of great help!
10x and happy new year!
Forex Guide answers:
1 one is out due to reason you mentioned.
#2 is plausible – Maybe! Think through what you would need to do to have it be sale-able. Target your market and design and build the software for that market, test it and ensure that it performs well, then get a few millionaires to swear by it on camera, then market it and then sell it en mass.
Your outlay in time and money will be vast. If you try to do it all yourself, by the time you have a working product the market may have changed. I think that your idea is too far removed from being sales ready to make it doable without huge cash investments. Think of something simple and easy. You don’t need to do something earth shattering- just make a good, plain jane product or service that people will enjoy or find indispensable. Do yourself a favor and pick something more manageable. Starting a business is easy, making it successful is HARD. It takes vast amounts of learning and time. Don’t practice by blowing your whole wad. Practice on an easy test project. Make some little freeware plug in and if it works, build onfeaturess and cross sell them to that customer base.
Business ain’t rocket science; it’s just focusing on the same simple things and doing them well over and over again. Define success, automate your sales, ensure quality control, marketing never stops, build metrics to track employee productivity and reward the best, find good people to help you and repay them with loyalty. You can’t do it alone without wasting tons of time.
Your first focus should be sales, sales, sales, sales. If you can’t make sales you can’t ever make money. Reading: “Cashflow quadrant” by Rich Dad, Poor Dad; “Ready, Fire, Aim”;”The Effective Executive” Druker;”The Art of Transformation”, Gingrich & Desmond
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Your Questions About Managed Forex Accounts
November 14, 2011 by Forex Guide
Filed under Forex Account
Carol asks…
build ‘managed forex account‘ ?
many ‘managed forex account’ at cyber. I have business idea for ‘managed forex account”. what are the steps for that
Forex Guide answers:
Not sure what your asking but Easy Forex can probably help,
http://forex-brotherhood-reviews.com/
Ken asks…
managed forex account ?
i was wondering if i can open a managed forex account with a low budget and if it makes any sense and most important where can i do this
Forex Guide answers:
Be very careful with managed forex accounts Most of them Lose money I’m telling you because I’ve seen it. Just a precaution make an Extensive Due Diligence ask for at least 3 years of track record having in mind of course that past results don’t guarantee future results. Have at least 5 to 10 possible managed account options so you can decide in the end the better one (if any).
What is a low budget to you? 5K, 10K? They are a few managed account that has a minimum 5 – 10K opening balance, others has 25K, 50K, 100K. I cant give you any recommendation because like you must perceive from my tone I don’t know any successful managed account. Good Luck. (Remember it is soo easy to lose money).
John asks…
where I can find forex managed account that have 100 % ROI / month?
managed account forex
managed account forex, forex managed account, for safety place
Forex Guide answers:
Hi wanttorich,
There is someone can doit for u
contact him
mql4indonesia@gmail.com
or see his site at
http://www.mql4indonesia.co.cc
hopes it help…
Steven asks…
Anyone Can Help Me?. Where can I open a managed forex account with only 10K USD?
Forex Guide answers:
At www.managed-forex-accounts.info (SterlingProPlus and EliteGrowth)
Betty asks…
I have $ 10,000. Please help me. I want to invest in forex managed account. Is it a good idea?
Forex Guide answers:
Hello,
Finaly found someone who is also interested in mannaged forex accounts.
My advice to you is yes yes!
If you find a good one you’ll earn lots of money.
This is what I have done:
http://my-robottrader.blogspot.com/
These are the results made by my moneymannager in one month and a half.
It’s going great because they are verry experienced in what they are doing.
The support is also great if I ask them a question I almost immediatly get one back.
I find that verry important, because I want to know what is happening to my money.
Annyway About the acounts itselfs I can’t give you good information…
For this you have to contact my money mannager.
If you want I’ll bring you in direct contact with him..
Just send me a mail (adress on my blog) and I’ll give you his Adress.
.
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The Right Forex Robot And The Right Forex Strategy
August 4, 2010 by Forex Guide
Filed under Forex Book
It is very difficult to win in forex without having a comprehensive strtategy. Therefore, the strategy of Forex is an action plan to achieve the objective in the foreign exchange market. The plans are required as the forex market is very risky and difficult market.
As the foreign exchange market is the market for currencies, so traders buy and sell currencies in order to make profit. Forex is not an easy market. So, you have to be patient and professional there. It could take many years to become a successful trader in this market so there should be a strategy to become a Forex trader successful. There are several types of operators may be short-term, medium and long term. In the short term traders are also known as scalpers. Usually, most traders focus on medium-term strategy that requires less investment.
Forex strategies may be basic, complex, simple or advance. A basic strategy Forex is useful for beginners. The basic strategy, there are rules set for beginners on how to trade? Forex strategies are not simple for those with experience, is qualified for beginners. Simple strategies define the Forex trading techniques. In addition, other strategies such as the complex, traders short notice about the business, etc.. Before you start trading, you should first practice with the software of forex trading. This software is useful for beginners and gives the idea of marketing and business idea. It is also good for beginners to enhance their skills for “Mini forex trading.
Types of forex trading strategies:
There is still a golden rule for a strategy to be 100% accurate all the time. Along with the practice Forex strategy and hard work is also required.
Technical analysis is based on analysis of graphs. It is also useful if we analyze the boom and the region depressed market. Mathematical formulas are used to analyze the market movements.
In fundamental analysis, the economy of the countries is analyzed, as every day new people are spread throughout the world.
Both types above trading strategies are essential to making successful and profitable trades. If one of them fails, it is not useful in successful trading. When we associate with Forex technical analysis strategy then we can deal with the price. When we talk about fundamental analysis or when the strategy is associated with Forex fundamental analysis then we can deal with economic factors. So in order to become a successful professional, it is important that in addition to monitoring the strategies forex trader must demonstrate positive attitude towards his work. Furthermore, it requires patience because the money is not fast to earn it takes time and hard work.
If you do not want to learn all this stuff then you can get yourself a forex magic machine that will perform trades for you.
Please before you launch your real forex trading – make sure to get quality education about the realities of the forex trading industry.
Or you can use forex managed accounts service where other currency traders will take care of managing the trading process on the currency market.
