Forex Guide answers:

I made $60,000 with your specified program within 4 months. Yes they are genuine investment program.
Http://www.minvestment.com/?r=InvestmentPlan

Forex Guide answers:

Investing is a passive thing that anyone can do and hope the markets go up and the economy improves and the system doesn’t fall apart again or another bubble doesn’t burst or the Fed doesn’t do something stupid, etc.

Trading is a profession, not a hobby. It requires committment, many more resources, much more education and training and experience and resources, like any profession. But unlike any other profession, the risk is very high, especially in Forex with 100:1 leverage. You may not know what that term means, but it is a primary killer in the futures and Forex markets, even for those that think they know something. Training is very expensive.

I’m not sure what you mean by stock trading being the “same” as Forex trading. They require different brokers and accounts. A stock is essentially part of a company with their own set of circumstances, products and services, marketing and competitive issues, employees and CEO’s. Trading the Forex is a world currency against another, called a currency pair, like GBP/USD, with their own set of world circumstances, governments, bailouts, GDP reports, interest rates, unemployment rates, etc.

What Does Forex Market Mean?
The market in which participants are able to buy, sell, exchange and speculate on currencies. The forex markets is made up of banks, commercial companies, central banks, investment management firms, hedge funds, and retail forex brokers and investors. The currency market is considered to be the largest financial market in the world, processing trillions of dollars worth of transactions each day.

Investopedia explains Forex Market
The foreign exchange markets isn’t dominated by a single market exchange, but involves a global network of computers and brokers from around the world. Central banks use their massive buying and selling capabilities to alter exchange rates through their open market activities and in many cases will do so not with profit in mind, but rather for any number of policy reasons. Forex brokers act as market makers as well, and may post bid and ask prices for a currency pair that differs from the most competitive bid in the market.

Forex Guide answers:

Whatever currency you carry, you will be purchasing in Thai baht only – basic rule is the fewer times that you change money, the more of it you keep as there are exchange charges. I assume there is no reason why Rupees are not accepted here at money exchangers, but I don’t know that for sure.

Forex Guide answers:

You need to open a savings of checking account with a bank. This will probably require a adult to also be on the account. But since you are only looking for a dept card only it should be no big deal.

Forex Guide answers:

Click on the green plus symbol at the end of the toolbar.

Click on the “Edit Apps” tab at the top.

Remove an application by hovering over it and clicking the red “X”.

Click on “I’m Done” at the bottom when you have finished.

Forex Guide answers:

I can only help you with Liberty Reserve question because I use this payment system, but I am not a forex trader, so with forex parts of your question other members will help.
To send money from your bank to Liberty Reserve, you need an exchanger. Try eforexgold exchanger, e-forexgold.com
You just fill in the buy form on their site, they give their bank details, you send money to them and they fund your Liberty Reserve accnt.

Forex Guide answers:

Hi,

Any good broker like fxcm.com has a contact us section which you can use. They will answer to all of your queries. Before opening a live trading account make sure you hone your trading skills on a practice account and learn the basics and dangers of forex trading. To learn more go to

http://www.forex-margin.net

All the best

Forex Guide answers:

Forex Trading is trading currencies from different countries against each other. Forex is acronym of Foreign Exchange.

How Does Forex Trading Work?
Forex trading is typically done through a broker or market maker. As a forex trader you can choose a currency pair that you expect to change in value and place a trade accordingly. For example, if you had purchased 1,000 Euros in January of 2005, it would have cost you around $1,200 USD. Throughout 2005 the Euro’s value vs. The U.S. Dollar’s value increased. At the end of the year 1,000 Euros was worth $1,300 U.S. Dollars. If you had chosen to end your trade at that point, you would have a $100 gain.

Forex trades can be placed through a broker or market maker. Orders can be placed with just a few clicks and the broker then passes the order along to a partner in the Interbank Market to fill your position. When you close your trade, the broker closes the position on the Interbank Market and credits your account with the loss or gain. This can all happen literally within a few seconds.
India has a rather strict foreign currency exchange policy – even though many liberalization measures have been taken recently, it’s still an economically isolated, or highly protected country. Indian currency – rupee, is highly regulated by the national banking authority – Reserve Bank of India, and so Indian citizens still cannot freely exchange rupee to other currencies, they have to prove their need and there are annual limits for different needs (more). Even popular money transfer systems such as Western Union – which is spread worldwide and available to everyone, are forbidden in India – residents can only receive money, but not send.

However, because of the globalization there is a definite need to open the economy, so Reserve Bank of India has been softening rules and regulations in recent years.

One of the important changes in regards to Forex trading is that in year 2008 Reserve Bank of India has finally allowed currency futures trading. Speculative trading became a permissible operation too – since it became impossible to ask for a proof of a hedging need.
We at Forex4you are happy that one of the biggest and the most perspective country in the world is finally joining the world of opportunities of Forex trading market!
More details are available on the official website of RBI – here.
Note that Indian brokers are only allowed to provide USD/INR pair at the moment. Since we’re located outside India, in British Virgin Islands, we do provide customers with many more pairs, many of which are much more interesting for traders because of their nature. Rupee, being a highly regulated currency, is not as volatile as other currencies and doesn’t allow as much analysis since movements depend on RBI decisions and not on market events.
Our another advantage over brokers registered inside India is that we don’t have any fees or minimum transactions/deposits. Services are much more affordable at our company!
How You Make Money Trading Forex
In the FX market, you buy or sell currencies. Placing a trade in the foreign exchange market is simple: the mechanics of a trade are very similar to those found in other markets (like the stock market), so if you have any experience in trading, you should be able to pick it up pretty quickly.
The object of Forex trading is to exchange one currency for another in the expectation that the price will change, so that the currency you bought will increase in value compared to the one you sold.
An exchange rate is simply the ratio of one currency valued against another currency. For example, the USD/CHF exchange rate indicates how many U.S. Dollars can purchase one Swiss franc, or how many Swiss francs you need to buy one U.S. Dollar.

How to Read an FX Quote

Currencies are always quoted in pairs, such as GBP/USD or USD/JPY. The reason they are quoted in pairs is because in every foreign exchange transaction you are simultaneously buying one currency and selling another. Here is an example of a foreign exchange rate for the British pound versus the U.S. Dollar:

GBP/USD = 1.7500

The first listed currency to the left of the slash (“/”) is known as the base currency (in this example, the British pound), while the second one on the right is called the counter or quote currency (in this example, the U.S. Dollar).

When buying, the exchange rate tells you how much you have to pay in units of the quote currency to buy one unit of the base currency. In the example above, you have to pay 1.7500 U.S. Dollar to buy 1 British pound.

When selling, the exchange rate tells you how many units of the quote currency you get for selling one unit of the base currency. In the example above, you will receive 1.7500 U.S. Dollars when you sell 1 British pound.
YOU SHOULD DEMO TRADE FOR AT LEAST 6 MONTHS BEFORE YOU EVEN THINK ABOUT PUTTING REAL MONEY ON THE LINE.

Forex Guide answers:

Lesson learned dude. With regards to legality, I guess there is no law on that considering it is virtual. However, you can ask your broker. Some offers a sort of rebates to those losing traders. . I heard that from my uncle. He is into trading too

Forex Guide answers:

The first thing that people who will be wealthy in the future learn is budgeting. This means delayed gratification. That means that the skills that would put you into being a successful forex trader, discipline and delayed gratification do not meld well with your desire for a Lamborghini. Your lack of study focus and ability also means you lack discipline. Since you can’t master basic stuff at the high school level you will never master such nuance based issues as are present in the forex or stock market.

If you come from modest roots, you have to learn such skills if you ever hope to be wealthy. I know it is possible to go from noggin head idiot to successful millionaire, but it will take discipline. A skill you apparently lack and are unwilling to develop at this time .

Before you waste your seed corn on investments you might consider using a “simulated” portfolio on Yahoo finance where you can test your skills and measure your competence. The market will be choppy for the next 6 months…give it a try and see if you would have made money or lost your fortune.

Forex Guide answers:

Common Sense is right.

To make money in this market, you need to pay your dues first–learn everything there is to know about making money in forex trading.

Richard Dennis once said that even if he were to publish his trading secrets in the leading newspapers, not everyone who will use it will make money.

There are traders who make money trading with the simplest trading methods. As Alexander Elder said, the three keys to long term success in the markets are Mind, Method and Management.

The goal of a good trader is not to make money, but to trade well.

Good luck!
- jim http://jsforex.blogspot.com

Forex Guide answers:

The forex market is highly risky and there a lot of suspicious offers been made. If a robot can guarantee you just 20% a month than in less than three years a $1000 dollar investment can turn into half a million dollars. When it sounds too good to be true it probably is. The only way to make money in the forex market is to put in the hours to learn about the market and experience trading as much as possible.

Forex Guide answers:

First of all Bob needs to get his facts straight. Forex is NOT a futures market. Because it’s highly leveraged like futures doesn’t mean it’s futures. Forex is the currency markets, where you trade a currency pair like the EUR/USD or USD/JPY.

Is it risky? Yes. But so is driving. How many people get killed on American Highways everyday? Does that mean you should not drive? If you drive safely, defensively, and watch your speed, etc., then you greatly increase the chances of getting to your destination safely. Same thing with trading.

It kills me when these people make general comments like that. Everything has an element of risk to it, but it doesn’t mean you shouldn’t do it.

And FX used to be for the big boys only. Prior to the early 90′s if you wanted to trade FX, you needed a net worth of at least $10 million and an account minimum of $1 million. But, today you can open an account with as little as $100. Other things like stocks, options, futures, etc. You need to have at least $5,000 to open an account.

Now to answer your question an Expert Advisor is basically an automated trading robot. It’s just a system that’s automated and will trade your account for you.

Hope this helps.

Forex Guide answers:

Over the years I have traded a lot of EAs. Some with live money (like Steinitz HAS), others with demo money. I have made money with some and lost money with others. I did make money with Steinitz for a 2 months I traded it but I also have friends who have lost a lot of money trading Steinitz. Here is the reality, there is no such thing as an EA that will consistently make money. Why? Because the market is constantly changing and no system (except the Holy Grail) can make consistent profits without human insight. That is the reality.

Here is what I recommend. Rather than going out and buying a Forex trading system programmed into an EA; educate yourself about Forex, design a couple trading systems that work across multiple market types, and then have them programmed into EAs. This way, you will know what moves the market, why your EA works, and you will be able to achieve steady profits.

Forex Guide answers:

Woudlnt recommend autopilot, imo. Learn technical analysis yourself and trade forex. Goodluck but more importantly be careful.

P.s. Before you trade, read as many books you can or you will most certainly fall

Forex Guide answers:

To build the site you would need a domain (basically a name of website), you can go to godaddy.com and buy a name (will cost you 10-15 USD per year)

Then a hosting company which will host your webpages ($10-$15 per month)

Forex Guide answers:

I’d go with http://comefollowme.zulutrade.com/SignUp_Intermediate.aspx and then it will give you a long list of brokers you can use. For you, I’d select either FXCM.co.uk, or global.fxdd.com.

By opening your broker account through the link above, you’ll also get some additional features added to your account that those brokers don’t normally give to everyone, mainly, the ability to follow signal providers. If you are totally not interested in this feature, and you’d rather just use MT4 (or, if you’d rather BE a signal provider), you’ll need to go directly to FXCM.co.uk and set up an account with MT4 access. But then you won’t have access to the something like 8,000+ free strategies that you get access to by using the link I gave at the top. It’s up to you though.

FXCM by the way would be my first choice, since they have no dealing desk. FXDD has a dealing desk, and their disclaimer says they make profit when you lose money, and they lose money when you make money, so watch out, because they actually want you to lose. That’s what a “dealing desk” is. Oh, and their disclaimer goes on to say, that their prices which they send to you are fabricated, and they can make the market appear to move against you anytime they want, and they can make the market move in different directions for different customers at the same time. Very scary stuff.

Both FXCM and FXDD are really big though, and both of them are compatible with signal providers, and both work with MT4 also.

EDIT: I don’t think MT4 supports 5 day charts.

Forex Guide answers:

I haven’t also come across any automated futures trading system or what you are calling a futures robot. There are many futures contracts that you can trade. Maybe this has to do something with the nature of the futures market. You haven’t mentioned what type of futures contract you want to trade. Infact there are many dozens of futures contracts like stock index futures, crude oil futures, interest rate futures, commodity futures, currency futures and others. Futures markets are a lot different from forex. Futures market is a highly regulated market. You can find both price and volume in the futures market unlike forex where you only have the price action.

I came accross a swing trading strategy that works for forex, stocks and futures. This swing trading strategy takes not more than 10 minutes to trade each day. Many people think that automated trading is the solution or what you call the Holy Grail. Infact there is no holy grail. Successful traders are those who learn to trade manually first. Automated trading systems without knowning how to trade manually do not give good results as market conditions keep on changing and if you have the feel of how the market is changing you can change the setting of the automated trading system. You can only develop the feel of the market by manual trading. First practice and paper trade for one to two months. Only then trade live. Good Luck!

Forex Guide answers:

If you just want to draw something on the chart with some text or whatever, you can use the CreateObject function in MT4.

I post my buy/sell signals in real time right here: http://comefollowme.zulutrade.com/Performance.aspx if you are interested in following me. Also there are a lot of other professional forex traders there who are also posting their buy/sell signals in real time. It’s a great alternative to MT4 if you are having trouble with MT4.

Forex Guide answers:

Forex is a very risky business if you don’t know what you are doing and it takes years to learn and become good at it..

Forex Guide answers:

I think you’ll find that they each have their own pros and cons. I personally trade with Oanda, because they have really tight spreads, although they do get larger when big news comes out. They do allow you to scalp. The only real downside is the leverage isn’t that great.

Hope this helps

Forex Guide answers:

I have never heard of any automated system that actually worked. There are a lot of people who will try to sell you a bunch of expensive software packages of question value however. Be careful.

Forex Guide answers:

I would suggest you to develop your own trading style based on some technical and fundamental analysis. A mixture of both will definitely help you to catter better results.
I am using Finexo as my forex trader and i use Scalping and Day trading both to increase my earning potential. For further information on Trading styles you can check out my blogs on forex.

Forex Guide answers:

The best way to learn is to test strategies out until you find a couple that work for you. Scalping is an art in Forex, but auto trading is a very powerful method. Find the one that you are comfortable with.

Forex Guide answers:

I have traded both MB Trading and FXCM live and have not had significant liquidity issues with either. However, to answer your question as to whether “most online brokers” are good at “hitting your limit buy and sell orders” mainly depends on the position size your attempting to enter the market with, the time of day and currency pair your attempting to trade.

And to answer your question whether your “simulator” will work with “one of these brokers” really depends on which code the simulator was created in. Is it an Expert Advisor coded for Metatrader? If so, MB Trading does not yet support the Metatrader software ( though are Rep there tells us they are working on it). MB uses the MBT Navigator which is much more difficult to create auto trading software for. FXCM recently began using Metatrader in conjunction with their FX Trading Station 2.0. Their Metatrader platform has huge drawbacks including not allowing demo accounts, not supporting multi-user accounts, and reportedly experiencing problems communicating between their FX Trading Station trade servers and their Metatrader Trade servers. I would recommend you google “Metatrader broker reviews” and find the brokers that best works for your situation.