Your Questions About Forex Demo Account
November 17, 2011 by Forex Guide
Filed under Forex Account
Paul asks…
Is Forex Exchange an easy market to get into?
Hi, I’ve been considering the possibilities of opening a forex trade account. Which I hope to be long term starting with a small capital than build up upon. The only things I’m lacking is knowledge in the market or how to invest properly. I have opened a forex demo account to learn the functionality of things but I’ve heard its a different ball game once you start trading live. I would like to hear some responses from those who are or have been in the forex market. Such as how you started, the ups and downs on investing what you feel a beginner must learn etc. and if possible if you can provide some helpful resources to continue my research thanks.
I have looked into forex robots but I doubt real investors use those often..
I have tried project payday a few years ago. I’ll admit I did make money from it, it’s just I quickly ran into some issues with my bank. So for the lack of never getting a system down I stopped.
Forex is something I’m serious about and thanks all for your post I’ll look into your suggestions, and that link you provided Michael.
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.
Ken asks…
Why demo accounts in forex trading used for?
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
George asks…
Info about forex ( help with forex robots)?
I have been using forex demo account for a while with a little success, also i live in ireland so maybe someone can help me out with te following questions.
1. What is the best forex broker that only requires a small starting balance e.g €100 or less.
2. Is there any good forex EA (robot) out there that i can let run and just make small amount of money so i can leave it running while im out doing my normal job.
I am well aware I can lose on forex so im prepared for that
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
Michael asks…
what is the fastest forex execution website?
I’m new to forex and I am trying my demo account and consistently winning without any loss I heard that the only diference between a demo and rel account is execution speed, so if anyone can provide me a reliable and fast execution forex website It will be much appreciated.
Forex Guide answers:
I tried a couple of them. As a result I say that Easy Forex is the fastest.
William asks…
About Forex Live Account?
please tell me does anybody have experience scalping at FXPro or gainscope. does they do fairly? i know in demo account they do allow but how about their live account? Which are best broker in this 1.Gomarkets 2.FxPro 3.Vantagefx …………..guide me
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:
Powered by Yahoo! Answers
Your Questions About Forex Demo Account Metatrader
October 24, 2011 by Forex Guide
Filed under Forex Account
Richard asks…
…Trading on forex by volume or by money?
Im a beginner trading on forex demo accounts, and I feel a bit consfused as etoro allows you investing specific amounts of money but metatrader use the term volumes.
The question is: How Im supposed to know the amount of money I am investing on a specific trade when they apply volumes instead of dollars?
Forex Guide answers:
If the volume in the metatrader is 1.0 it means your pip value is 10$, therefore if your trade moves 1 pip you either gain or loss 10$.
If the volume is 0.1 it means your pip value is 1$ therefore if your trade moves 1 pip you either gain or loss 1$.
If the volume is 0.01 it means your pip value is 0.10$ therefore if your trade moves 1 pip you either gain or loss 0.10$.
If the volume is 0.5 it means your pip value is 5$ therefore if your trade moves 1 pip you either gain or loss 5$.
David asks…
Forex trading. I just got started, please help!!?
Ive been reading up on pipsology for about a week and just started practising to trade (demo account) using alpari metatrader 4. I have no idea where to begin, Any pointers?
Forex Guide answers:
Forex trading is one of the fastest ways to make money also the fastest ways to loss money at the same time. Its very complicated and i would say have a demo account for 6 months before you even thing about trading with real money. If you want to know more about forex trading watch youtube videos there are 100′s of videos made, watch CNN business news to know more about the market for example if America cuts jobs that can affect the markets watch the news and look out for things like that. People have lost millions on the forex exchanged and have made million.
Good luck
Susan asks…
what is the things i should look for in Forex Trading Platforms as a new trader ?
hi all
i am a new trader
i’ve been trading with demo account already few months using metatrader 4
can you mention please few reliable Trading Platforms.
how to make sure that this company is “safe” and won’t steal my money before i deposit real money ?
what are the things i should look for when choosing a platform ?
i know these platforms :
Saxo bank
FXCM
Easy Forex
Forex.com
Oanda
anyone already has any experience about any of the above companies and would like to share it i’ll be glad to hear 
thanks all
Forex Guide answers:
Hi Alex…
This may help you
There are many excellent brokerage depending on your criteria.
In deciding a forex trading website (or Forex Brokerage)..please make sure:
1. US, UK or Selected Euro based Brokerage.
2. It is better not to choose the “OFF-SHORE Brokerage” based on some small countries
3. Find a honest brokerage, so you can be with them along-with your fortune
After you find you favorite broker, please do the following:
• Whether it is a registered Retail Foreign Exchange Dealer (RFED) with the U.S. Commodity Futures Trading Commission (CFTC).
• Whether it is a Forex Dealer Member (FDM) of the National Futures Association in US
ALSO, the same criteria should be done either for UK based and Euro based brokerage.
I cannot give you a recommended brokerage here, but you can find me at my trial website http://foropts.webs.com/ then you can ask me by email.
Hope this helps you
SIG
Maria asks…
Quick Questions about forex for a beginner.?
How much volume = $1 US?
Can you explain volume/
What happens if my profit shows negative?
If my profit shows negative, do i owe the broker money? Should i just wait until it picks up again?
I’m using metatrader 4 and a demo account.
What if I have $25 in the account and the profit goes negative to let’s say -$50. Will the broker automatically sell it or am allowed to keep it until it goes back up? Will I have to pay the broker the difference of $25?
Thank you
Forex Guide answers:
A volume where each pip is equal to $1 US would be a mini account, with lot size of 0.1, which I believe is a volume of 10,000. In order to trade the Forex, you’ll have to deposit money ahead of time, and your trades will only be allowed to go negative if you have enough funds in your account to cover it.
Trading the Forex is incredibly difficult. I personally know people (other than / not myself) who have traded for years with a demo account and have yet to be able to consistently make a demo account gain profit each month. A rule to follow is, never put real money in unless you can gain profit on a demo for at least two months in a row or more.
You can save yourself a lot of time and possibly a lot of loss, by simply getting a quality strategy from http://comefollowme.zulutrade.com/Performance.aspx , and then you can spend the rest of your education on the other half of what makes Forex trading so difficult, which is, proper money management.
Mark asks…
profit in forex trading?
Hi all.. i am doing forex (currency trading) trading in india through fxstreet.com and i am using metatrader 4 as trading platform. i couldn’t predict the market. when i was trading with demo account everything comes in benefit. but i started to do real trading.. i couldn’t do it with gain. i couldn’t predict. please someone help me to know the market. is there any software to predict the market. please help me…
Forex Guide answers:
No body can predict
lol
Powered by Yahoo! Answers
How To Make An Effective Use Of Forex Robots?
July 8, 2010 by Forex Guide
Filed under Forex Book
Forex magic machine has fueled a race to get on the bandwagon of instant fortune as more and more people scramble to sign on. Automated trading software can be explained as designed to do if not all then most of the work of currency trading online. You install the program, open an account and start making money and how the software is sold. However, no one is naive now? Read this interesting article on how you can adopt a logical approach or strategized with the concept of forex magic machines.
Having an forex magic machine gives an advantage over manual trading, but have strategized approach is a step better. Be informed and in command of the latest trends and vital information will put you ahead of the game. When you enter, leave and stop trading are managed strategically by the standards of risk management a good forex magic machine system becomes very effective.
Knowing how past and present users of the forex magic machines have won and lost will also help to measure a certain extent the effectiveness of the system. We say at some point, because there are times when capital losses to user ignorance and improper management of system capacity and functionality. There are other trends that must be studied over a period of time and include loss of profit (PL) ratio and the victory to the loss (WL) ratio. Forex magic machine generates statistical data that should be studied to obtain this information and to learn how the software has been constant in terms of profits, which is usually a percentage. Knowing your needs will help make for a better selection of forex magic machines, which ideally suit your lifestyle and time zone.
There are many advantages of using a forex magic machine, such as:
- Eliminate the need for physical trade, the system does most of the work.
- Forex magic machines work all day every day and you can trade day or night in any time zone.
- The software is designed to trade on multiple markets.
- Allows exchange of more systems like those based on different indicators in order to diversify risk and reduce losses.
- The robot forex is very influenced by the psychology of the user, because it is programmed with algorithms that are specifically designed to perform tasks.
The advantages of using a forex magic machine is based on the fact that the software of your choice and usability and functionality for high performance. Historical facts should justify the performance of software, such high profit percentage loss ratio.
One thing must be understood using the forex magic machine is that you will need to monitor performance in terms of trading real input and output and stop trading.
You must be aware of the fact that managed forex account is a risky investment, because forex trading in itself can result both in profits and losses.
Hence, we seriously recommend to read more about the sphere of forex investment, before you start spending any money on it.
Honest Forex Invincible Review
April 9, 2010 by Forex Guide
Filed under Forex Trading
In case you need to possess a job that is profitable AND flexible then look no further then trading inside the Foreign exchange market where it is easy to trade as of Monday morning, Sydney time, right through until FRI afternoon, New York time. This implies that it does not matter where in the world you are, or even the time of day that you wish to trade in you ought to find a way to start trading while in the Forex market.
It really is always a great plan to become as learn-ed as entirely possible when starting up a new career and there are a lot of of currency trading courses that it is possible to attend to make sure you can get all the extra info that you might ever require. It’s a good idea too, to find superior trading equipment to help you make a lot more money then you otherwise would have done. One such tool would be currency signaling software, such like Forex Invincible.
Yet, even when you work with great tools, exchanging within the Forex exchange market can at times still be very difficult. The principle thing that you truly need to be familiar with are the trading hours of the Forex market and also confirm that you, the trader cash in on the twenty four hour cover and then Forex Invincible will really be able to help you out, due to the fact its automatic style means that it controls everything by itself.
While Forex Invincible can automatically indicate when the best time to buy is and also when the best time will be to sell, this doesn’t categorically suggest that each solo one of your trades will then be absolutely lucrative. The Forex market is extremely erratic thus it would be dishonest to say that using software such as Forex Invincible hands you 100 percent winning exchanges. However, using signaling software will up the total amount of winning trades that you have for sure.
You can seek out and start using automated software that would be in the form of an expert advisor, or Forex robot. No matter what you end up choosing you’ll find that Fx trading will be able to make you have huge earning potential. You simply must make sure that you are very well geared up.
However, there is always a great deal of buildup regarding anything new which may be being set free onto the currency market however, as there are so many expert advisors it can be complicated to uncover which trading system might be best for you. The trading robot, Forex Invincible appears to be a lot more superior to previous Forex signaling software though, but some may find this harder to trust in then others. I’d advise Forex currency traders trial it before believing in their own skepticism though. For more information visit Forex Invincible Review
Obtain pragmatic advice about managed forex accounts – please make sure to study this publication. The time has come when proper information is really only one click of your mouse, use this possibility.
Forex Trading: What To Trade, When To Trade, And The Best Way To Trade
March 31, 2010 by Forex Guide
Filed under Forex Market
Currency trading: What to Trade, When to Trade, and The right way to Trade
Trading inside the worlds largest and the foremost liquid financial market is one of the best methods of earn money. Here, if you understand how, when, and what to trade, it is possible to make sure which you can earn huge amounts of profit. It’s a undeniable fact that these folks who traded on that financial market became successful and became very rich almost overnight.
Being a trader, you would just want to grab the chance to earn lots of money and naturally, start a trading career in Forex. The Forex market trading as mentioned before, is the largest and essentially the most liquid financial market from the world. Unlike the stock market and other financial market, Forex has no centralized location the way it operates twenty four hours each day at different locations around the world. Trades in this financial market are done through an electronic network.
Previously, due to high financial requirements, Forex was only limited to large multinational corporations and financial institutions, as in banks. However, because of the advancement generally the communications technology and likewise the existence of high speed internet, Forex with the late 90s is currently designed for everyone who is eager about trading within the Forex market.
Forex trading, for just a beginner trader, is just the trading of various currencies of your world. This may seem simple enough for all, but you should also consider that lots of inexperienced traders and some experienced traders have suffered huge financial losses in Forex.
You should remember that apart from the truth that Forex may give you an incredible money-making potential, Forex has equal risks. Therefore, prior to you enter this market and trade, you are likely to first consider several things to ensure that you achieve success with this money making venture.
First of all, you must know the way to trade currencies. In Fx trading all you require is often a pc with an active internet connection, a funded Forex account along with a Forex trading system system. There are many websites offering Forex trading. To be able to start trading, you should open and fund an account first with your chosen website. At that time, it’s easy to start trading in more liquid market contained in the world.
You need to have a quick internet connection on the way to maintain with all the updates and price movements and prevent slippages from happening. Another thing you’ve to consider is that as much as possible, you can register in a Forex website offering dummy accounts so that you could practice your skills and strategies in Forex trading.
Now that you understand how to trade from the Forex scene, the following thing it’s worthwhile to know is what to trade. The Forex exchange market involved different currencies from all around the world. It’s also traded in types of currency pairs. Here i will discuss different currency pairs that you should consider trading around the Currency forex market:
• EUR/USD
• USD/JPY
• GBP/USD
• USD/CHF
• AUD/USD
• USD/CAD
• NZD/USD
• EUR/GBP
• EUR/JPY
• GBP/JPY
• CHF/JPY
• GBP/CHF
• EUR/AUD
They are the most commonly traded currency pairs within the Forex market. It should be up back to see which currency pair you desire to trade contingent on market conditions. If you need to do it right, you can rest assured which you can earn a substantial quantity of income.
The following and very last thing you must consider is when you need to trade while in the Forex market. Since the Forex scene is open 24 hours per day, you can actually trade whenever you like. And, since it is the most liquid, you will get out whenever you like. It is just a matter of knowing if industry condition is profitable or if it is falling.
Forex traders are mostly speculators who endeavor to predict which currency goes to increase in value and which currency will decrease in value. Speculators use Forex charts to spot a trend and determine when a unique currency will increase or decrease in value.
Now that you know how to trade for the Forex market, anyone can open a funded account and start trading currencies.
Always keep in mind that in all trades that take place at the financial market, you also needs to expect to suffer the pain of losses. Try to be prepared to house it and accept it. Because of this , you require a large amount of cash to trade in Forex.
Grab pragmatic tips about forex investment – please read the page. The time has come when proper information is really within your reach, use this chance.
