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:

In case you are looking for forex robots or automated system, there is NO such things that will work in the long run, else everyone is rich.

But if you are looking for guides especially on technical trading such as candlestick, MACD and so on, you can easily search it online. Good luck.

Forex Guide answers:

A few years ago, an academic paper was done showing that a random walk does a better job of predicting changes in FX prices than any of the existing macroeconomic models.

Subsequent research by Lyons and Evans shows that the one variable that does a good job of predicting future short-term FX prices is order flow. Order flow is like signed volume — where the sign is determined by who initiates the trade — the buyer or the seller.

Unfortunately, the only people with access to order flow are the traders at the major banks. That puts you at a distinct disadvantage.

In the mean time, the best way to find if FX prices will go upo or down? Flip a coin.

Forex Guide answers:

I’ve read a lot about Forex, but I’ve never seen a proven profitable forex indicator or strategy, despite the claims of some scam web sites.

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:

FXCM has several free charting version. Including ADX and stochastic indicators. Dont know exactly what you mean by sentiment but you can try FXCM. I have included a free demo version of FXCM trading platform video clip here. And a free utility Forex trading reality check tracker. Http://www.geocities.com/lcming/Forexhome & http://www.geocities.com/lcming/Forexbooks

Forex Guide answers:

Given the indicators are currently the most talked about Pro Trade Copycat.

Forex Guide answers:

A good Forex indicator is a must have for any forex trader get more information on forex signals here http://www.slideshare.net/Curtlectual/forex-signals-6449938

Forex Guide answers:

Here is what you need. Last month they called over 5600 pips. IF you want more details email me at rbw1226@yahoo.com

COMING SOON!! “STRIKES TRADER” … a revolutionary and innovative new concept to trading based on the Lightning Strikes Trading System.

It’s simple, successful and the most profitable trading method made available to the public.

HERE’S HOW IT WORKS:

1.Our team will simultaneously take trades on up to 22 currency pairs using one tenth of one lot on each pair, thereby minimizing risk and maximizing profits.
2.Trades will immediately be posted to a “spread sheet” where the most recent activity for any trade will be shown at the top of the spread sheet.
3.Using your trading platform, you may take as many of the posted trades as you wish.
4.No e-mail or text message notifications will be issued due to the unreliability of instant delivery so it will be necessary for you (the trader) to review the spreadsheet periodically throughout the day to check for any updates (new trades, move stop loss, close trade, etc.)

SIGN UP NOW:

1.From this link www.lightninglive.com login to “strikes trader”.

Forex Guide answers:

There are three real-time moving indicators: Price, Volume, and of course Time.

Most traders focused on PRICE indicator and hundreds of other indicators derived from it, they miss two other important indicators – VOLUME and TIME. What moves the price? VOLUME and the forces driving the volume. How to see price movement? Over TIME. You need to observe Price, Volume, Time and their dynamic interactions.

The best Forex indicator (or for any other financial market) is Market Profile. More information on market profile trading can be found at:

http://www.squidoo.com/stock_technical_analysis

Or Google search “simple best technical indicator”.

Cheers!

Forex Guide answers:

You can work out pivot points yourself based on the previous days opening and closing levels.

Go to a site like babypips.com to get a formula or link for a MT4 download.

Depending on the platform you use – some have them built into the charts themselves.

Weekly and monthly pivot points are also very powerful.

Forex Guide answers:

As far as I know there is no indicator on the volume of forex charts.

That is why banks and larger institutions have the upper hand on retail investors as they can see and hear about the large orders coming in whereas the retail investor is left out in the cold.

Forex Guide answers:

Hi!! What a nice question!! Not everybody wanna know really how MACD works!!!
It will be different because MACD (Moving Average Convergence-Divergence) is calculated based on 3 Moving averages… Custom setting 12, 26, 9… Apply to the close… That means.. That it calculate the average of the close value of the last 12 bars periods or candles… Also the average of the las 26 candles and also the average of the close of the last 9 candles… Si the close of a bar on a 15 mintue chart is different that the close of a daily chart… Thats why the value of the moving averages are different!

If you wanna completely understand how MACD works you can go to

http://en.wikipedia.org/wiki/MACD

cheers

Forex Guide answers:

News trading can be tough especially if the broker widens the spreads.I will wait till the markets settle down after news and stay with the trend.

Forex Guide answers:

Trading is an art. There is no formula. Everyone successful trader develops their own trading systems.
From your question… I’d say you’re 3-5 years away from being successful (that’s actually average, for the few that succeed).

Spend more time on money trading management/risk control. In Forex 30% of your success is on Technical Analysis….. The rest is how you manage your trades.

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. You are being mislead by people who are trying to make Forex appear easy, when it is horrendously hard for people to make money in it in the long run.

You’ve already tried one strategy and you’ve blown up. You will probably find your new strategy blows up eventually too. Forex is a treacherous game.

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:

Thanks I learned in Forexnext.com and earn $142 in my first trade. Thanks a lot.

Forex Guide answers:

Be careful with that large of a withdrawal, the credit card might not accept it, and you might get in trouble depending on what country you’re in. It could be flagged as money laundering.

I’d suggest using MoneyBookers if your broker supports it. Once your money is in your moneybookers account you can request a cheque or a wire transfer, moneybookers’ fees for withdrawal are awesome, I recently requested a wire transfer which cost me just $2.7.

If your broker only supports credit cards and wire transfer then take some money out via credit card and the rest via wire transfer.
Note, don’t use paypal if your broker supports it, you will be charged crazy fees to receive a payment by paypal, I believe around 2-3%. I did that once a few years ago and had to pay around $100 for receiving a $3000 payment

Forex Guide answers:

Nina-tess, It could be Clickbank, the payment processor, that has some problems but generally they are very efficient.

For me, because I was living in Malaysia, for many years, I faced a lot of problems with Clickbank accepting my credit card as they do not accept cards from some countries. I was always frustrated as they couldn’t tell me why sometimes my order goes through but most times it didn’t.

What I do is to use paypal and I do not have anymore problems. Paypal is very useful because it takes from your credit card but it doesn’t expose your info to the seller. This is good especially if you are buying small items from strangers or even in ebay. You only need to show an email to pay using paypal.

I bought Forex Killer 2 months ago and I really like the software. It helps me to confirm my decisions to enter and exit trades. Last week, my friend at the bank bought a copy
and they now have an offer for a free magazine subscription available for mailing to US addresses only.

Forex Guide answers:

Forex

Forex Guide answers:

Hi!! Most of the brokers will transfer to your credit card the same amount of money that you put into your account with your credit card…. They wont transfer more that that to it… The will transfer to any bank account in the world that has the same name of your trading account! And they probably will charge around 40usd to transfer to you bank account..

Forex Guide answers:

There are a lot forex brokers that accept credit card for depositing your account, just search it online. Good luck.