Your Questions About Forex Demo Account
November 9, 2011 by Forex Guide
Filed under Forex Account
Michael asks…
Is there a catch or scam in the demo forex accounts?
So I’ve been playing around with forex trading on a practice account with $50k. I was able to make over 3k on a successful transaction. And I can make at least a few hundred on each transaction. And all that is in a matter of hours, sometimes minutes? It’s hard to believe that those practice accounts are the same as real account. I mean I turned 50k into 55k in one day on the practice account? That doesnt seem realistic. Can anyone explain me what’s the catch?
Forex Guide answers:
The catch is that you can loose 5k or more in a very short period of time too.
Exchange rates go up and down every day. And anybody can make money once in a while in Forex trading. But to be profitable in your trading over weeks and months you need to avoid loosing money. And to avoid loosing money over the long term is very, very difficult.
Ruth asks…
FOREX: I just opened a demo account yesterday. I am losing allot. What indicators do you suggest?
Forex Guide answers:
This advice is probably not worth a lot, but trading currencies is just like trading stocks, with the one big exception that you are doing it on 10% margin, so your gains and losses are magnified 10x.
A trend once started tends to continue, so look for a trend and ride it. Is the currency trading above the 50 day and 200 day moving average? Is the currency at the bottom of the bollinger band?
Be sure to cut your losses very quickly and let your winners ride. Even double up.
Robert asks…
I turned 50000$ into 70000$ trading on forex practice account in two days, is that good?
The reason I am asking is because it’s kind of hard to believe that I was able to make 40% profit in just two days. I am wondering if the demo account is even legit, in the sense that it works exactly like a real account with the only exception that it’s not real money? Is that true?
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).
Lisa asks…
What do you think of the FOREX trading platform?
I’ve only had experience with the MarketAxess Fixed-Income trading platform, but am interested in setting up a demo account with FOREX. Any thoughts?
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.
David asks…
How Forex Demo Software works? FX Trading software.?
Hi All,
I want to know that How exactly Forex Trading works. A search about all the times but confused and want to solve my confusion before start of this business. I has following queries if you can solve it then it will be your great kind help for me.
1- How exactly forex trading works? I have installed software with demo account.
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/
3- How can I sell? How can I buy?
4- How I will get money or How and were I can deposit money?
I am from UAE want to work from office. I am an employee so Is it good for me.
I am waiting for your replies and valuable information.
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.
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Your Questions About Free Forex Demo
October 11, 2011 by Forex Guide
Filed under Forex Account
Richard asks…
Can you help me find a FOREX software?
Guys, I am very interested in entering Foreign exchange trading. I believe there is big time money in that. I am very keen to learn how FOREX trading is done and stuff. I believe there are companies which are selling software’s which act as GUIDES and tell you when to buy or sell a currency. I saw ads of such software producing companies on TV and was much impressed. thye were also giving free demos in near by cities, but I missed out…) Could you pls let me know how I can find a company which sells this kind of software along with other training stuff????
Forex Guide answers:
LOL, you don’t need software, you need to spend a little of your precious time doing your own research on investopedia and other sites learning about that market and how it works.
Most of those software presentations are scams – they use indicators that you can easily get from any basic trade station.
Dude, there are no shortcuts to the marketplace, if there were then there would be no losers and only winners – an impossibility.
After doing a little research on your own if you have questions, my door is open most of the time. I’ve been trading FX for a couple of yrs.
David asks…
Global broker for forex recommend: FXCM?
Hi,
I am on the road a lot – travelling between the UK, Canada and USA. My base for now, is the UK, but I may move back home to Canada in a year.
Looking to get into starting trading in Forex – is FXCM a good broker for someone in my situation? I have tried their free demo and am satisfied. If I decide to go back to Canada, will it be much of a transition with this broker? they seem stable, and I would like to not have to switch brokers just for the reason of moving.
Thanks,
Forex Guide answers:
FXCM is great broker that has been doing this business for years. And if you are travelling a lot, FXCM is definitely one of the best choice for you to partnering with.
John asks…
I want to learn forex?
my problem is I can’t use any of these free demos online.
I’m not an idiot but I can’t understand them. I don’t know if I’m making money or if I’m losing money. It is getting very frustrating because I want to start learning ASAP, but most the online resources are crap. I prefer taking classes, and I haven’t even found 1 in all of toronto. Everytime I try to search on google all these sites come with a bunch of scam artists trying to sell their program or online classes about how to make money. I don’t want to learn how to make money, I want to learn how to use the freakin platforms, I’ll come up with my own strategy.
Btw I’m already pretty good with stocks, it’s just that the market is horrible right now, and you need a bigger initial investment in stocks to make any decent money
Carol asks…
stock market charting software?
I am looking for some basic software for my computer that I can download for free without a demo. Just something with charts that I can look at. No forex or other international markets. I have tried MTI trader and Bloomberg, but they all are demos and require money. Please help me out!
Forex Guide answers:
Http://www.freestockcharts.com/
Helen asks…
Is the following email “out of order”? I do not think I should receive advertisements in this way!?
Hello Crispy bacon and eggs
From: vanmiller j
Subject: yahoo anwsers
Message:
Hello,
I was looking around on yahoo anwsers and I might have something for you where you can invest in.
It’s a software that has been developped by experienced forex traders.
It brings a intrest of 15% each month!
If you want you can test it out, I have started up a demo wich you can follow as long as you want to.
For more information feel free to contact me at joeyvanmiller@gmail.com
To continue the conversation, click this link:
Reply To This Message
Thanks for using Yahoo! Answers.
You received this email because you are opted in to receive communications from others through Yahoo! Answers Messaging.
I have abridged the email slightly to make it somewhat easier to read
Forex Guide answers:
Sounds like spam to me, report it if you are not comfortable
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Choosing A Worthwhile Forex Computer Software To Learn On
December 27, 2010 by Forex Guide
Filed under Forex Systems
There are many methods for getting better at trading in Foreign currency . There are plenty of alternatives out there, for example picking a training course either through publications or maybe online, along with choosing to work with some type of Forex software which is typically available . A lot of people do neglect the fact that software is becoming so advanced that it can help in all manner of ways . It is certainly, a tool, and feel free to use this to your benefit .
There are many different types of software packages you can make use of to do with the foreign exchange market . There is statistical examination computer software and semi-automatic or fully automatic trading software , and either of those can be used to your advantage. Most of the time you don’t even need to pay anything for these , often the reason for this is that the majority of the software will come in a demo form . This kind of demo ability is usually to exhibit the potential that the software will give to anybody that chooses to purchase it. Nevertheless , this particular demo form is really a wealth of learning opportunity for anybody that wants to analyze the effects on various kinds of foreign exchange .
By simply trying many different kinds of software it’s possible that you will see that some kinds of computer software will be significantly better at representing information , and even in their prediction abilities . Signals will be important to choosing excellent trades in the foreign money market place and thus you will be needing a software program which displays all you need to see, as well as a reduced amount of of that which is irrelevant. It’s only through trying many kinds that you will discover a computer software that gives you the results which you need . This does not mean this any kind of software that you will be using is poor quality, it just means that it is not the suitable solution for you . As it is often said , what may not be right for some is perfect for others .
Upon having determined that type of software works well for you, you are in the perfect situation to try out a lot of the systems you’ve now produced . If following a brief period of practice you feel you are doing fairly well , you then have the option for you to possibly buy whatever computer software you’re using and use it to its full potential, or proceed to a different form and attempt different tactics . Although , usually , when you have discovered a strategy that may be functioning effectively to suit your needs , and have formulated the capability evaluate precisely and easily before deciding on any foreign currency pairs you need to simply perfect your own technique rather than drop it entirely, should it not [spin]work entirely effectively .
Even though one does have the alternative for you to cycle through the a group of different forms of software program before you find one which will provide you with the particular benefits you need , you might possibly find that you only need to attempt a couple. The particular reason to get this is this your own software package has become so good and so very well designed that they’re all pretty good at working as they should . Generally there are generally many complaints with regards to a number of applications not being up to scratch, but the vast majority of time you’ll find this is in most cases because of the operator and their capabilities .
The important factor to remember would be to not try and trade extensively until you have got the capacity to produce precise predictions , which produce good earnings . If you feel that you might be not achieving this just yet, then keep trying , and perfecting the particular Forex strategy right up until you happen to be able to be in a position in which you can be comfortable in buying and selling to get earnings . Upon having formulated the essential system , you could bring to an end the usage of the actual computer software if you need to , and also save yourself any regular recurring re-billing, however you could still carry on refining the process . Even though , many people do discover that following employing a particular sort of computer software that they are more aware about just what exactly they want the application to be able to demonstrate , which offers you a better circumstance in selecting a different piece of software package to be able to build your special professional ability even further !
People that are want to get information about the sphere of forex investment, then make sure to check out the site that was mentioned in this passage.
Forex Trading: Which One Trading Strategy To Select To Earn A Great Deal?
September 27, 2010 by Forex Guide
Filed under Forex Book
It is absolutely true that looking for the most beneficial Forex trading system in the currency trading market may not be quite easy task. Indeed, there will be a lot of them available for you to utilize. But it is true that you also require to have a bit of caution as you started your selection process. Unfortunately there will be some types of software that would claim to provide you with the best benefits and provide you with great earning. But in a reality they might leave your trading account totally empty in the end.
Actually there are some reasons why you need to find the best Forex system to start your trading activity. Why? Because:
If trading software is designed well, it will save you plenty of time. So it is imperative to make sure that you have carefully tested your trading system. If you don’t intend to end up at the loosing your savings you are just to find out that the trading system tested is not working in the manner you want it to work.
If you select the best Forex trading software, it will help you simplify the complex characteristics of the modern currency trading market. If it is designed well enough, it will surely provide you with really helpful information which can potentially increase you profit. In addition you will be provided provide with quite useful trends that will most likely assist you with making right while trading Forex.
But still it is necessary to keep in your mind that there really is not such a thing as totally perfect trading system. So if you already have been in a Forex trading for a particular period of time and have gained good grasp of currency trading, you might also consider developing some system of your own. In this event, you will never face the challenge of different curves your trading system does and the make it the way you intend it to work. Actually I consider that it will be most beneficial Forex trading system for you.
It is also quite necessary to make sure that you are quite knowledgeable about the trading system you use. It is a wise step to identify if it gives you everything you want at the same time; don’t forget to test the features to get a full feel of what the trading system involved can do for you. It is highly recommended that the provider offer you some free trial period.
It is true that which ever currency trading system you select, just make sure that it is really the best Forex trading system which will truly work towards your benefits and great advantages in this complicated market.
Today more and more people try to trade with forex software. If you are searching for productive forex software – please read the review of this forex software, before purchasing any.
It is obligatory to read unbiased reviews of this sort of software before purchasing any forex currency software because you will be aware of to what to pay attention to.
Why Do 95% Of Forex Traders Lose Their Money?
September 17, 2010 by Forex Guide
Filed under Forex Book
It is absolutely true fact that any person has great potential to learn to trade Forex successfully but still as the statistics says 95% of currency traders lose their money. The problem is that these traders don’t understand the simple rules which are shown in this article. That is why I strongly recommend you to make sure you do understand all the items involved and while reading this article you will most surely see why they are considered to be the key to long term success in currency trading business.
Automatic Software Packages May Lose Money
It is true that plenty of traders, especially new ones, buy the immense amount of cheap automated software packages and consider that it is the easiest road to earning an income for life with no necessity to make any effort. But the truth is that these Forex traders soon get taught a quite distressing lesson by the currency market. It is worth remembering that cheap automated systems don’t work. It is in fact the basic reason why they are so cheap.
Your Forex Trading Strategy Should be Simple
There are plenty of traders who complicate their trading strategies and while they spend a lot of time and effort into those strategies, they lose their money. The actual reason for this is a selected trading system which is too difficult to be used in the right way. As it has too many parameters, each of them can potentially break in the incredibly brutal world of Forex trading. That is why remember that the best strategy for trading Forex is some simple strategy.
Hard Working and Smart Brains Guarantee Trading Success
Many Forex traders work very hard. They are in a habit of looking for some really perfect system which doesn’t exit in a real world. It is worth remembering that Forex trading is quite simple, so your smartness and intelligence does not guarantee high profits. It is true that Forex trading is all about gaining the right information and learning relevant knowledge.
The Key to Huge Earnings is in Your Mind
It is doubtless that the greatest problem is that the vast majority of Forex traders cannot trade with strict discipline as their overwhelming emotions make them to over ride their Forex currency trading signals, make great losses and change strategies which in the end lead to them becoming wiped out of the system. Therefore, while trading Forex you have to take some losses and do all possible to keep them at low level, as protecting what you have is incredibly important so you get enough money to run some profitable tradings when they appear. That is why being disciplined is imperative for Forex trader.
Currently more and more people try to trade with forex software. If you are searching for productive forex software – please read the review of this forex software, before purchasing any.
It is obligatory to read unbiased reviews of such kind of software before buying any forex day trading software because you will know about whether it is worth buying.
