Forex Guide answers:

Hi Vick,

The best idea is to check your bank’s website, as most of the banks display the daily exchange rates.
Even though you’ll see a better exchange rate online, there is a high probability that your bank’s exchange rate will be different, because each liquidity provider(bank) has their own exchange rate.

Best Regards,
FXCC Representative

Forex Guide answers:

Trading computers are getting popular now, so they are getting cheaper. I got my Triple LCD multi-screen PC, from:

http://multi-monitors.com

It was around $3k, with LCD Array. They have a very affordable brand called Super PC. Mine runs like a champ!
Best computer I ever owned, by far!

There are two other really good companies, but they are still
charging yesterday’s prices. The technology is not that expensive anymore! So, Multi-Monitors.com, is the way to go.
I initially found them, through their Multi-Monitor FAQ website, below. Check them out, and good luck! We need it, in today’s markets!

Forex Guide answers:

A card like that is a great solution, the other is multiple graphics cards but these use a lot of power and require better cooling and you may not have the expansion slots for them.

Things to consider:

If your displays are older they may not have DisplayPort connections. You will need DisplayPort to DVI cables for each monitor. These can be had for as little as $5 from a store like monoprice, no need to spend more.

If you want 5 or 6 displays you may be able to just add this and keep using your current graphics card too. Issues can arise with this in Vista if your current card is not an Nvidia card due t the way in which Vista loads graphics drivers. This issue isn’t present with other modern operating systems.

There are other ways to expand your number of displays, with products from companies like http://www.villagetronic.com and Matrox, but if you have the budget multiple NVS 450s would be the best choice.

From the software side you should consider using UltraMon. It is a fantastic piece of software for managing multiple displays better.

Forex Guide answers:

To be successful with the Forex, you need two things strategy-wise…
1) You need a strategy. They are NOT as hard to come by as people suggest, in fact, you can select from a list of 8000 of them right here: http://tinyurl.com/3tcla4v
2) Then you need good money management. Even with the best strategy, if you trade too large of lots, or you do poor money management (aka impatience, greed, etc) you’ll blow your account.

I suggest that you open a demo account at the above link, and add ALL of the top 20 strategies to it, and let the demo run for a month or so. If it does well after a month, you can then weed out any of the strategies that didn’t do so well at that point. I suggest following multiple strategies rather than just one, because more strategies = more stability. Any strategy can go bad at any time, no matter how good it’s done in the past. But following multiple good strategies means that if several go bad, you’re still in the green.

If it does well after a month or two and you are ready to go live, then I highly advise you to NOT put a large amount of money in to start. If you have a lot of money, put it in gradually. Start with around $2000, and then let that go for a month or more. IF it is in the green after a month, then add more money if you wish, and gradually increase the lot sizes as you gradually add more money. Never add money in if it has lost money. In other words, never add money to make up for a loss. If the account has a loss, it must make that loss back on it’s OWN, not by YOU adding your own money in! And that takes a lot of patience because some times it can take it a while to make it back, and during that time, you have to wait. So patience is key. But For example, if you have a hundred thousand dollars to put into the Forex, I would say it should take you 6 months to a year to get it all uploaded into the Forex. Because you start with 2k, then let than run a month. And if it does well, then you double it, and let that run another month. And if that also does well, then you double it again, etc. It’s much safer that way, because if you do some horrible miscalculation, most likely you’ll have the loss early when your account is just $2000, rather than lose your whole $100,000!

Also, be sure to go with a no dealing desk broker, like FXCM. I hope all this info helps. If you have any questions, you are welcome to private message me anytime.

Forex Guide answers:

DO NOT BUY A MAC FOR COLLEGE. Considering your classes will only use Windows-type software, it is a horrible idea for college.

That’s a very good laptop, a little too good just for college. Do you plan on getting games or anything for it? Because it will run those flawlessly.

A little too much just for college, but very good for browsing and gaming.

Forex Guide answers:

I find finexo.com, forexwebtrader.com as the best trading platform to trade forex. As you are tested by me and i strong feel they are genuine and their services are helpful to all the traders.

Forex Guide answers:

Hi Raze,

A keylogger virus is a small application that records all the keys you stroke on the keyboard since you logged into your operating system.
All the data is stored into a text file which is distributed over the Internet through various channels, for example, there are MiRC channels that live stream login details for various sites by using this kind of viruses.
If you will login to any sites that require authentication, then there are high chances that your login details will be distributed over the Internet in no time.
Windows provides sort of a solution through the on-screen keyboard which can be found under Start Menu>>Accessories>>Ease of Access.
I would strongly suggest you get yourself a good anti virus program and scan your computer for viruses, since the main concept of a backdoor virus is to leave a coded trace for other viruses to infiltrate and damage your system.

Best Regards,
FXCC Representative

Forex Guide answers:

I like to play Texas Holdem online at several different sites. I play a lot of freeroll tournaments and usually do very well, finishing in the money in the majority of the games I play in.

Of course, sometimes this is only a dollar or two, but sometimes it can be a lot more. My biggest win in a tournament is $1000. And I am on the money leaderboard on the site where I play most frequently.

Online poker is fun and challenging. I use a system called the Texas Holdem Dynamic Point Count Super Strategy, and it has worked well for me. Here is a link:

http://www.thedoverpro.com/poker.htm

I also play at the real casinos, but sometimes this is not as much fun. Playing at home online is a lot better!

Forex Guide answers:

Yes u can change ur name.
U hv to go to ur local court or any notary after a short stamp paper work u r allow to do this.
After this u hv inform it via local news paper etc.

Forex Guide answers:

If there is a ristriction, why dont you follow the law, you might be charged with money laundering offence

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:

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.