Forex Guide answers:

I understand what you are asking. There are a wide variety of news events (known as fundamentals in the forex arena) but, from my experience, the greatest movers are the consumer price index, the producer price index, and the non-farm payrolls number. Other news events, like the weekly jobless claims number, retail sales, and any sort of housing data tend to move the market slightly most of the time. I have not found GDP to move the market as much as many think, but it CAN move the market, especially if the number is unexpected. Other movers include the ISM and ISM Services, Michigan Consumer Sentiment Index, Trade Balance, Philly Fed, Empire State Index, Retail Sales, PCE, Richmond Fed, and Durable Goods. News from any major company, like GM, may slightly affect the dollar as well. One of the biggest indicators of all is any information that will affect interest rates on either side of your currency pair-here in the US it is the Fed, but in Japan it would be the BOJ, BOE in England, etc. I have given you some of the monthly reports that will affect the dollar but for a currency pair you will have to examine equivalent fundamentals for BOTH currencies-so for the CAD/JPY it would be important to examine Canadian as well as Japanese fundamentals. Other major economies will also have an affect on any currency pair, due to the law of one price and the effects of arbitrage in the world markets.

No one is going to give you correlations because they are going to be different for every currency and different every time. I am sure by doing a search you could find some historic correlations for the pairs you desire, but it always good to do your own research by watching the pair(s) that you choose and seeing the real minute by minute reaction, instead of just at certain times.

Forex Factory provides a good calendar of when the events take place, for all the majors:

http://www.forexfactory.com/calendar.php

Have fun. I don’t know if youre new to trading but if so you should know its hard work-just like being a doctor, lawyer, or business owner. The biggest trick as an entrepreneur in any field, especially trading, is NOT to listen to anyone that says you can’t do it, nor to the ones who tell you its easy-dumb and dumber my friend. Get in your own zone, never risk more than 2% of your capital, never be afraid to take a loss, control your costs, and set yourself up to profit when a pattern repeats itself.

Forex Guide answers:

Candlesticks are the best indicators in the world. They’re good for candlestick formation, elliot wave formation, and trend-line breakout. By mastering these 3 things, you should be able to break-even in Forex. To really make money though, you’ll have to master money management.

Forex Guide answers:

I use a system called “forex autopilot”. It’s very good and there’s a nice review for it at http://www.fxsystemscompared.com

Forex Guide answers:

Hi avhiphop,

It is really all depend to you. If you are live in Asia, then it is more likely that you can trade prior or during the London open or European session as price is begin their volatility moves at this hour.

The use of indicators also depend on each person’s preferences. Whether you are like to use leading indicators such as ATR, ADX etc. Or you like to use Lagging indicator such as MACD, Stochs or RSI.

If you would like to learn about Forex trading, here are lists of great site you can visit;

http://www.babypips.com

http://www.forexfactory.com

Forex Guide answers:

As a 10+ year Forex trader, here is how I trade to make money…

If you want, you can also follow these steps. I’ve dumbed it down to the easiest, yet safest way to win in the Forex.

1) Open a live account at http://bit.ly/iPV25O
2) Select AAAFx broker, and open MICRO account with 200:1 leverage.
3) Deposit at least $300 in your account to start.
4) “Add to Portfolio” the top 20 strategies at http://bit.ly/mJiyZV
5) Don’t add any strategy that makes less than 10 average pips per trade.
6) …when adding strategies, set maximum number of trades to 5, and…
7) …select lot size of 0.1 “mini” lots for each $1000 in your account. It will trade automatically, following all those top 20 strategies.
9) Then sit back, relax and take a vacation as you make easy Forex money.

Forex Guide answers:

First, I suggest to sign up for a demo account. Trade until you able to consistently making profit. Then, put in some real money that you can afford to loss. You may loss it, treat it as tuition fee. Finally, hopefully you would have master the skill to win in the long run.

There are many free resources, just search it online. Good luck.

Forex Guide answers:

Good evening Paul,
Demo trading accounts are an incredibly useful tool when learning to trade Forex as they enable you to practice and to develop your own personal FX system without putting any of your own funds at risk. Typically these demo accounts will contain fictitious funds; normally around $100,000; which you can use to practice trade the market. Whilst these accounts do not contain real money, the lessons which can be learned from placing trades are applicable in both a simulated and real trading environment, and can be similarly invaluable.

The one thing I would say though is that you try to make your time on the demo as realistic as possible; e.g. Try and only use a proportion of the ‘money’ available so that your positions in the market are inkeeping with the positions which you would open using a live account.

I hope that this helps.

Yours sincerely,

Christopher Kelly

Forex Guide answers:

Well Attractive Question to my self

I have been using ivybot automated currency Robot It gives Profits for me but not much i expected but it has multiple features it trades it self 4 currency pairs. And coming to forex broker i do myself with my own.

Here Is my review about ivybot forex automated robot

Forex Guide answers:

I tried a couple of them. As a result I say that Easy Forex is the fastest.

Forex Guide answers:

Playing Forex can appear alluring, but the majority of people who try it lose money. All you have to do is do a web search on the words “Forex” and “lose” to see this is the consensus.

Forex is similar to what we call a “zero sum” game. You are making a bet with someone else about whether a currency will rise or fall. For every winner there has to be a loser. The net winnings of everyone combined equals zero. If you are smarter than the average player, you may make money. If you are dumber than the average player, you are likely to lose money. Most of the people making the “bets” in Forex are highly trained professionals at banks and other institutions. You are unlikely to beat them at this game.

Actually Forex is not quite a zero sum game. It’s a slightly negative sum game as the Forex broker takes a small percentage each time in the spread. It’s a small amount but over a hundred trades, it ends up being a considerable amount of money. So the average player is likely to lose money, and remember the average player is a highly trained professional and probably smarter than you.

There is a lot of luck in Forex, and if you play it, you will have some periods of time where you make money. This is usually because you are having a lucky streak, not because you have suddenly become an expert Forex player. However, most people are unwilling to admit their success is due to luck. They become convinced they have a system that works, and lose a lot of money trying to refine it.

Further complicating the problem is the large number of Forex scams on the internet. Most Forex websites are of questionable honesty. You will find many people on the Internet that claim they made a lot of money using Forex. They are usually liars trying to make money. They will say: “Go to Forexcrap,com/q2347.” The “q2347″ is a signal to the Forexcrap site that you are being referred to them by “q2347.” If they sell something to you, “q2347″ gets a kickback. These coded signals can be hidden by different methods in the link. Other people will refer you to their own private website or blog for the purpose of trying to get money off you. Also there are a good number of trolls out there that like to pretend they are successful forex traders just for the fun of it.

I would recommend not trying to do Forex at all, unless you are a trained professional. It’s like playing poker with people better than you, with the house constantly taking a small percentage from the pot.

Read the warnings in the links below:

Forex Guide answers:

Not sure what your asking but Easy Forex can probably help,

http://forex-brotherhood-reviews.com/

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).

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…

Forex Guide answers:

At www.managed-forex-accounts.info (SterlingProPlus and EliteGrowth)

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.
.

Forex Guide answers:

Great question and great timing.

Although there is no official regulatory agency that has hold of the reigns of the “spot Forex” marketplace the NFA (National Futures Association) has regulatory responsibility for the “Forex futures” market. Since the “spot Forex” market is currently resembling the wild west with some questionable players popping up every day a number of Forex brokers are establishing processes so as to be “compliant with NFA policies and regulations”.

There are current rumors that the NFA will soon require a certain level of financial stability and available funds so that brokers are able to support their operations during irregular markets. Currently a broker can simply close up shop and sail into the sunset with whatever money they can.

A Forex colleague of mine has shared with us a government report indicating the financial stability of 170 Forex brokerages. The consensous seems to be that the NFA will require $5M in available funds within the next couple of months and up to $9M by the end of the year.

Send me your email address and I would be happy to share this report with you and you can see where your broker stands.

Paul

Forex Guide answers:

No, forex trading won’t normally let you exchange one currency for the other, unless your broker actually let’s you upload USD into your account, and then lets you withdraw it as CAD, which is possible. But unless the broker itself will do an exchange like that, the “Forex” markets are not designed for that. When you trade the Forex, you are not trading one currency for the other. What you are doing is you are trading the exchange rate between two currencies. So, for example, 0.9737 is the exchange rate right now for USD/CAD. And “USD/CAD” is the name of the market for USD and CAD. Note, there IS NO “CAD/USD” market! That’s because the Forex is not designed to trade back and forth between two currencies. It’s designed only to trade the exchange rate, and thus, “USD/CAD” is the only market. And then when you make a trade, you don’t trade your USD for CAD. Rather, you are trading that 0.9737 value. IF that 0.9737 value goes up, and you are buying, then you make profit. IF it goes down, and you are selling, then you make profit. If you are in the wrong direction then you lose money. But if your account is in USD, when you enter the trade you are still USD, and when you exit the trade you are still USD. So like I said, unless the broker has a specual thing that they do to change your USD into CAD, then all I can say is that the Forex is not typically designed to do that.

P.S. On a side note, if you are looking to trade the forex for profit, the best site that ranks strategies is http://comefollowme.zulutrade.com/Performance.aspx , and all you have to do is go there and click “Add to Portfolio” on any strategy you like, to begin.

Forex Guide answers:

REVOKE the trust and have an ATTORNEY draw up a NEW trust that does what you actually want the trust to do. If the existing trust does not already allow whatever it is, you CAN’T just add ANY language to allow it.

Forex Guide answers:

There’s a new autopilot forex trading software going to be launched and promises to be really sensational. If you want to try autopilot forex trading, go for the latest. It is likely to be sold out very fast.

Http://ForexLoophole.info

Forex Guide answers:

Hi, you can try easy forex. The pioneer in forex market.

Http://www.bernanke.cn/easy-forex/

good Luck !

Wish you make a fortune!

Forex Guide answers:

Never heard of this company. You may want to do further background checking on the company, do visit their offices if possible.

Personally, I would go for other more reputable and established company.

Good luck.

Forex Guide answers:

As they say on Forex “previous trading results do not guarantee profits in the future”.

But that does not mean you need to stop. God speed. Just take care of the risk management and do not trade higher than 1/20th or 1/25th of the balance sum – then you can be sure that with unexpected losses you do not suffer from the surprised of the currency market.

Forex Guide answers:

If you are confident with your skills and experience, you can trade on your own. You don’t really need $5000 to start trading. There are brokers that will offer you a live account for $500. You should not have problem to start earning pips.

Below are some broker that you might want to try:
easy forex: http://ads.easy-forex.com/Gateway.aspx?gid=108163&bid=802
fxdd: http://www.fxdd.com
finexo: http://system.referforex.com/processing/clickthrgh.asp?btag=a_5892b_2661

Forex Guide answers:

Stop cheating the public with such dubious claims. With the global economy in such doldrums, no one can even dream about such foolish things. Stop using Yahoo answers for your personal use.

Forex Guide answers:

That is ridiculous
there is no guarantee you will make any money , never mind enough to pay back 20% in one month

especially as an absolute beginner

what happens if you don’t make at least 20% or you LOSE money and can’t pay back your promise? What good are you then?

You have been working and studying it for 5 yrs and you have no money of your own to invest?