Forex Guide answers:

Since, forex trading market conditions change periodically you can’t determine its fluctuations so you need understand the basic ways and strategies that must be implemented to accomplish successful winning trades. If you need to know more about forex trading, you can make use of http://www.how-to-tradeforex.com/

Forex Guide answers:

1.EUR/USD – Euro/U.S. Dollar
2.GBP/USD – Great British Pound/U.S. Dollar
3.USD/CHF –- U.S. Dollar/Swiss Franc
4.USD/JPY –- U.S. Dollar/Japanese Yen
5.USD/CAD –- U.S. Dollar/Canadian Dollar
6.AUD/USD – Australian Dollar/U.S. Dollar
7.EUR/GBP – Euro/Great British Pound
8.EUR/JPY – Euro/Japanese Yen
9.EUR/CHF – Euro/Swiss Franc
10.GBP/CHF – Great British Pound/Swiss Franc
11.GBP/JPY – Great British Pound/Japanese Yen
12.CHF/JPY – Swiss Franc/Japanese Yen
13.NZD/USD – New Zealand Dollar/US Dollar
14.EUR/CAD – Euro/Canadian Dollar
15.AUD/CAD – Australian Dollar/Canadian Dollar
16.AUD/JPY – Australian Dollar/Japanese Yen
17.EUR/AUD – Euro/Australian Dollar

NOTE: Of the above 17 currency pairs, six of them are deemed the “major currency pairs” in the FOREX market because they account for about 80 percent of FOREX transactions:

1.EUR/USD – Euro/U.S. Dollar
2.GBP/USD – Great British Pound/U.S. Dollar
3.USD/CHF –- U.S. Dollar/Swiss Franc
4.USD/JPY –- U.S. Dollar/Japanese Yen
5.USD/CAD –- U.S. Dollar/Canadian Dollar
6.AUD/USD – Australian Dollar/U.S. Dollar
As you can see, there is a currency on the left and one on the right. The one on the left is referred to as the base, and the one listed on the right is known as the cross. The format, once again, is as follows. BASE/CROSS, or EUR/USD. The EUR is the BASE and the USD is the CROSS.

TERMINOLOGY:
•PIPS- Price Interest Point. This is the smallest unit price for any Foreign Currency.
•LOT- A lot of currency is one denomination for a trade (100K or mini account). This is similar to purchasing one stock or one contract in the futures market.
•LONG to buy
•SHORT to sell
•BID-The price at which you sell
•ASK-The price at which you buy

Price Interest Point – (PIP)
Profits are made in the FOREX by gaining PIPS. A pip is the last digit from the decimal point. This value is 1/100th of a cent. You may now be asking yourself, how do I make money off of 1/100th of a cent? The answer is leverage. The FOREX market is highly leveraged and should be respected. That said, it can also provide for a tremendous return on your investment. The average leverage in the FOREX is 100 to 1. Basically this indicates that for every dollar you invest in a trade you are controlling $100 of value.

Calculated PIP
Calculated PIP – shows the Price Interest Point (PIP) value for the selected currency pair based upon your trading account margin. For example, a standard 1 percent margin trading account controlling $100,000 in currency would show the EUR/USD with a PIP value of 10.
PIP VALUE-Fixed or Floating
FIXED- When the USD is the cross currency (right side of the pair), the PIP value is fixed at $10 in a 100k account.
FOATING- When the USD is the base currency (left side of the pair), the PIP value is based upon the exchange rate of the cross currency (i.e., USD/CAD.). Also, the PIP value is floating when the pair consists of foreign currencies (i.e., EUR/ GBP).

LOT
A lot is the normal unit of trading in the FOREX market. Trades are made in lot increments, similar to share increments in the stock market.
Standard (or 100k) FOREX account- has a 100:1 leverage ratio
1 LOT= $1,000 investment= ratio leveraged 100 to 1, which = $100,000 in buying power.
Mini FOREX account- has a 200:1 leverage ratio
1 LOT= $50 investment= ratio leveraged 200 to 1, which = $10,000 in buying power.

TRADING HOURS (EST)

•Trades 24 hours a day, 6 days a week. The market is open from Sunday at 5pm EST to Friday at 4pm EST.
On my time (CST), Forex trading begins Sunday evening in Sydney (open 5:00pm – 1:00am), and moves around the globe as the business day begins in each financial center, first to Tokyo (7:00pm – 4:00am), [then Europe (12:00am – 9:00am)], then London (2:00am – 11:00am), and finally Canada and New York (7:00am – 4:00pm).

Forex Guide answers:

Well, first you should NOT be looking to be opening a Forex account with $50. You say you’ve been trading a demo which is the right way to start, but one of the most important things when trading Forex is a properly funded account…ask any trader.

My advise to you would be to educate yourself further and keep trading the demo until you can properly fund your account. $50 in an account will be blown up in now time and will probably only discourage you from trading…not the goal here.

While your searching, another recomendation would be to check out FxRebates (www.FxRebates.com). They offer rebates on the commissions you pay while trading. The Broker’s don’t offer this in most cases. I know they work with about 10 brokers now and they could also help you choose a broker.

Best of luck to you in your trading…

Forex Guide answers:

I”d try to get a refund. The Federal government warns there are a lot of Forex frauds out there, and these Forex robots appear to be one type of these scams. If these robots really worked, there would be scads of articles about them in the Wall Street Journal and other financial publications talking about them. When I do a web search, I can not find a single reputable news article encouraging the use of Forex robots. The link below is a Federal website warning you about Forex fraud.

There are a lot of people on the Internet claiming they have done very well using Forex robots. These appear to be of two types. One is the outright liars. For instance, you might meet a person called “Zboy227″ who says “I made a lot of money using ScamRobot2000, go to their website at ScamRobot .com/Zboy227.” The “/Zboy227″ tells the website that Zboy227 has referred you. If you buy the product, Zboy227 gets a commission. He is only lying to you to get a commission.

There is a lot of luck in Forex. Sometimes you will run into people on the web who have tried a robot for a few days and have had some beginner’s luck with it. They start bragging about how well they have done. Later, they start to lose money, but they rarely get back on the web and talk about how much money they lost. People like to brag about their successes, but rarely talk about their losses. The result is that much of the feedback about these Forex robots is positive.

I may point out that websites that sell Forex robots admit there are a lot of scams out there. Of course they claim the other guy’s robot is a scam, but their robot works. If you do a web search on the words “forex robot” and “scam” you will find a lot of sites saying their competitors are scams.

I will admit I have not personally tested every robot out there, and I can not prove they are all scams. But I would be very hesitant to spend a lot of money on a robot without clear proof it really works.

Forex Guide answers:

RSI, MACD, Bollinger, Slow Stochastics, SAR, Elloitt Wave. There are a bunch, but thats a view I use

Forex Guide answers:

It is NOT wise to ‘invest’ anywhr if you’ve got NO idea what you’re doing.

We don’t invest, we actually trade the markets.

Personally, I don’t believe that any market is different for a trader to make some descent profits. Ofcourse the factors and angles are different for each segments – such as stock/commodity/currency but overall intention is same.

Forex Guide answers:

Investopedia.com has a stock simulator where you can buy/sell/trade stock with fake money. The stocks are traded in real time just like the real stocks and it tracks the gains and losses as well.

Forex Guide answers:

There are many indicators that can give you some idea in which direction the currency price will move, but there is absolutely no way to guarantee that the price will move in expected direction.

Some of the obvious indicators in forex would be for example some political and economic situation on a larger scale that could lead to the change of currency price. This is known in forex as fundamental analysis.

There is a free e-book you can download that can explain you more about how this works. You can find e-book on this website:

http://www.forex-trading-secrets.net/

Hope this helps!

Best regards,

Forex Guide answers:

To be honest what you mentioned suggests that you think that Forex may be a way to make money overnight. It is not. Forex trading is a business and needs to be treated as a business. And any business needs in-depth understanding of the concepts, pros and cons. Don’t jump into it and I would even say don’t even jump iinto it with even a demo account. Demo accounts can be two way swords. Early success and early failure may taint our decision makings when we are faced with the real thing with real money. The reason is simple that during demo, we do not face one of the most important aspects of trading and that is psychological aspect. Study, study and study first. Read a lot.

Forex Guide answers:

Hi Vincenzo!!

You can check this website: http://www.forexrobottradinghq.com/blog to get forex trading tips.

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:

If you want to do some research it is necessary otherwise it is no need to keep print another option is that you store in your computer instead of print

Forex Guide answers:

What would you prefer to see.

FAKE GAINS or REAL LOSSES.

If you dont wanna demo trade, at least do heaps of backtesting before live trading. Also make your plan rock solid, use minimal discretion wherever possible.

Forex Guide answers:

The company obviously has a vested interest to get you to open a real account with real money.

As such, they may not do anything to falsify the data, but they could easily select the “high of the day” or the “low of the day” to register your “trades” to give you the best selling or buying price. In reality, you have no way to secure trades at day’s high or low, except by pure dumb luck.

And did you consider commission in your simulations?

I would think the company would go to some lengths to ensure your demo results do NOT discourage you so badly that you give up the idea of Forex Trading. Whether this goes so far as to fake the results, I don’t know.

Forex Guide answers:

The demo probably let’s you fill your order whenever you want…

When I started day-trading at a firm…I got a chance to test out the level 2 platform through a demo.

I was able to fill every order at whatever price I wanted to. I’m not sure what your platform looks like, but if you can place your order’s at market or the top line of the order box, it’ll be more realistic.

It’s not a scam or rigged. It’s just created to show you how easy it is potentially make money. Don’t be tricked into thinking you can easily make money. Forex trading is extremely hard.

Forex Guide answers:

I used www.oanda.com to play the forex market. Look for their demo game section and create an account. They will give you $100,000 to start. The charts are in real time. If you have questions more questions about the site, e-mail me.

Forex Guide answers:

The catch is that you can loose 5k or more in a very short period of time too.

Exchange rates go up and down every day. And anybody can make money once in a while in Forex trading. But to be profitable in your trading over weeks and months you need to avoid loosing money. And to avoid loosing money over the long term is very, very difficult.

Forex Guide answers:

This advice is probably not worth a lot, but trading currencies is just like trading stocks, with the one big exception that you are doing it on 10% margin, so your gains and losses are magnified 10x.

A trend once started tends to continue, so look for a trend and ride it. Is the currency trading above the 50 day and 200 day moving average? Is the currency at the bottom of the bollinger band?

Be sure to cut your losses very quickly and let your winners ride. Even double up.

Forex Guide answers:

It is difficult to equate demo account trading results to real world trading profit potential. As others here have pointed out, the use of real money may have a way of changing your trading behavior.

One way to combat this is to find and use a forex trading robot with your demo account. If you like the results in the demo account, use the same robot and exact same trading strategy in your real account. I would also recommend you trade in small lots until your system proves itself.

Remember, the forex market moves very fast, and you can lose money just as quickly as you can make it. Learn how to control your trades to maximize profits and minimize losses (this is the promise land for forex traders).

Forex Guide answers:

I’ve been using the FreedomRocks system and have came across a lot of posts on various forums and wanted to share my personal experience. First of all the system takes the guesswork and emotion out of trading on the Forex market. It’s a proprietary system that does 95% of the work and takes a few minutes per day to manage.

As we all know even experienced Forex traders can make big mistakes and most people end up loosing all of the money that they invest within the first couple of months. Unlike most forex programs FreedomRocks is not attempting to guess which way the market is going to move because quite frankly no one can predict that and that’s why the majority fail.

Let me emphasize that this is a long term investment strategy and not a get rich quick program. It’s a very simple and easy system to understand and I’ve never seen any other program where someone with no prior trading experience could invest in the market and actually be profitable.

The FreedomRocks system represents a complete paradigm shift from traditional Forex investment practices:

- The automated system does the trading for you

-No charts, no graphs and no more Guesswork

-Spend only 20 minutes per week managing your account

-Structures your trading: Buy Low/ Sell High

- Allows you to collect daily interest on leveraged money

-100% control over your money

I believe that this is the best system for trading on the Forex but of course I don’t expect anyone to take my word. I would encourage anyone looking for a smart way to trade in the market to take advantage of the 15-Day free trial so they can experience for themselves how it works.

For More information check out: http://www.yourforexinvestor.com

* I’ve also created a worksheet to assist people in setting up their account using the system so if anyone be interested I would be more than happy to share it.

Best Regards,
Brandon Wells
877-773-5345
bjwells@yourforexinvestor.com

p.s. I personally like the GFT platform but you can use any platform you choose.

Forex Guide answers:

1- How exactly forex trading works? I have installed software with demo account.

Forex is the foreign stock exchange. If you’ve downloaded the official software from forex.com, live support personnel can help you, but it isn’t something you learn overnight. You should try to find some good books at your library or on amazon that explain forex, and how to get started.

2- From software When I can buy and when I can sell? From where I can get information that this is for sale and How much I am getting/

You can use the official forex software. Instead of selecting “Practice”, when you login, you would select “Live”, and you would be trading on the real market.

3- How can I sell? How can I buy?

Again, you should get a book introducing you to forex. Buying and selling is as simple as clicking Buy or Sell, but if you don’t know what you’re buying, it’s pointless.

4- How I will get money or How and were I can deposit money?

I believe forex uses your bank account to withdrawl and deposit however much money you chose.