Forex Guide answers:

I think you’ll find that they each have their own pros and cons. I personally trade with Oanda, because they have really tight spreads, although they do get larger when big news comes out. They do allow you to scalp. The only real downside is the leverage isn’t that great.

Hope this helps

Forex Guide answers:

I have never heard of any automated system that actually worked. There are a lot of people who will try to sell you a bunch of expensive software packages of question value however. Be careful.

Forex Guide answers:

I would suggest you to develop your own trading style based on some technical and fundamental analysis. A mixture of both will definitely help you to catter better results.
I am using Finexo as my forex trader and i use Scalping and Day trading both to increase my earning potential. For further information on Trading styles you can check out my blogs on forex.

Forex Guide answers:

The best way to learn is to test strategies out until you find a couple that work for you. Scalping is an art in Forex, but auto trading is a very powerful method. Find the one that you are comfortable with.

Forex Guide answers:

I have traded both MB Trading and FXCM live and have not had significant liquidity issues with either. However, to answer your question as to whether “most online brokers” are good at “hitting your limit buy and sell orders” mainly depends on the position size your attempting to enter the market with, the time of day and currency pair your attempting to trade.

And to answer your question whether your “simulator” will work with “one of these brokers” really depends on which code the simulator was created in. Is it an Expert Advisor coded for Metatrader? If so, MB Trading does not yet support the Metatrader software ( though are Rep there tells us they are working on it). MB uses the MBT Navigator which is much more difficult to create auto trading software for. FXCM recently began using Metatrader in conjunction with their FX Trading Station 2.0. Their Metatrader platform has huge drawbacks including not allowing demo accounts, not supporting multi-user accounts, and reportedly experiencing problems communicating between their FX Trading Station trade servers and their Metatrader Trade servers. I would recommend you google “Metatrader broker reviews” and find the brokers that best works for your situation.

Forex Guide answers:

Right here:

http://www.fin-rus.com/analysis/export/_eng_/default.asp

or here:

http://www.dukascopy.net/english/ddf_main/rdata/ExportCSV/

Forex Guide answers:

MSN.COM has information. I did a graph of the Euro as an example. However, most people who play with Forex lose money. Watch out for the scammers. (See Link 3)

Forex Guide answers:

Hi,
if you are looking for good fx trading platform this site can help you introduce to top forex platforms that most traders using along with reviews
—————–

http://bestforextradingplatforms.com

—————–
good luck..

Forex Guide answers:

What is historical risk index data?

Forex Guide answers:

Download NinjaTrader for a free trial. The forex and futures data feeds through Zen-Fire are free.

Http://www.ampfutures.com/index.php

You can build your own historical database as you go, or purchase historical data. Here are the different paid data feeds for NinjaTrader

http://www.ninjatrader-support.com/HelpGuideV6/helpguide.html?HistoricalData

Here are some free download sites if you want to use Excel. But Excel is so primitive compared to a trading platform that handles all the different time frames for you (1 min charts, 30 min charts, hourly, daily, monthly, etc.) and includes all of the indicators and moving averages and candlesticks and bar spacing, and on and on.

Stock Market Indices and Forex Data

http://pitrading.com/free_market_data.htm

Forex historical data download

http://www.fxhistoricaldata.com/

More Forex data
http://ratedata.gaincapital.com/

Forex Guide answers:

Right here:

http://www.fin-rus.com/analysis/export/_eng_/default.asp

or here:

http://www.dukascopy.net/english/ddf_main/rdata/ExportCSV/

Forex Guide answers:

MSN.COM has information. I did a graph of the Euro as an example. However, most people who play with Forex lose money. Watch out for the scammers. (See Link 3)

Forex Guide answers:

Hi,
if you are looking for good fx trading platform this site can help you introduce to top forex platforms that most traders using along with reviews
—————–

http://bestforextradingplatforms.com

—————–
good luck..

Forex Guide answers:

What is historical risk index data?

Forex Guide answers:

Download NinjaTrader for a free trial. The forex and futures data feeds through Zen-Fire are free.

Http://www.ampfutures.com/index.php

You can build your own historical database as you go, or purchase historical data. Here are the different paid data feeds for NinjaTrader

http://www.ninjatrader-support.com/HelpGuideV6/helpguide.html?HistoricalData

Here are some free download sites if you want to use Excel. But Excel is so primitive compared to a trading platform that handles all the different time frames for you (1 min charts, 30 min charts, hourly, daily, monthly, etc.) and includes all of the indicators and moving averages and candlesticks and bar spacing, and on and on.

Stock Market Indices and Forex Data

http://pitrading.com/free_market_data.htm

Forex historical data download

http://www.fxhistoricaldata.com/

More Forex data
http://ratedata.gaincapital.com/

Forex Guide answers:

Whenever a system works, it does so by removing a little of the inefficiencies that allow it to work. The more you use the system and the more widespread the system’s use is, the less likely it is to work. Scalping has been around a long time so any current scalping system would be working on very thin margins on the brink of not working at all which is probably why so many have taken to selling their system rather than exploiting it themselves.

It’s relatively simple to come up with a system that seems to work but once you take into consideration the spread of the trade and the taxes, it’s quite likely there’s no profit and potentially a loss instead. The only mathematically rigourous system would be volatility pumping via Shannon’s Demon, however it would be very rare to find currencies with the volatility needed to overcome the spread and taxes of such frequent trades.

Forex Guide answers:

MACD gives the best results and it is easy to use as well. If the MACD line crosses the signal line it means that it’s good time for entry in the direction the MACD line were going. But remember to look for a short trade if MACD line falls below signal line and if it rises above signal line just go along. Now assuming that the price of the currency pair breaks above resistance or below support after the MACD crosses the signal line, then it would be considered as a signal of a big move indeed happening. Both the upward and downward crosses are explained in the diagram above.

Why wouldn’t MACD work in a range bound market? The problem is that in a range bound market, if you base your market entry points only on the MACD then by the time the indicator catches up to the current price, the price may have risen or fallen terribly to such an extent that making a profitable trade would be near impossible.

The Euro was down on Wednesday as investors continued to price in the likelihood of an interest rate cut from both the European Central Bank and the Bank of England alt on today. The European Central Bank is expected to cut its core rate by half a percentage point to 1.5 percent, and the Bank of England is expected to lower its rate to 0.5 percent on Thursday, also by half a percentage point. Lower interest rates can weaken a currency as investors move funds to where they earn better returns elsewhere.

At 5PM GMT, the Euro was flat versus the dollar at 1.2573, down 1% versus the CAD at 1.61, and up slightly to the Swiss Franc at 1.4796.

Forex Guide answers:

Be careful, you could lose your shirt !

Forex Guide answers:

Never heard of that. Might want to switch to FXCM as your broker, if that’s happening to you.

Here is a site that will help you with your FX trading: http://comefollowme.zulutrade.com/Performance.aspx

It ranks the top 8000 forex strategies.

Forex Guide answers:

The scalping method is usually based on three factors:

Liquidity – The more liquidity in a market then the more attractive it becomes to a Forex scalper as they can make more profitable trades in any given period.

Volatility – Only the most stable of markets are attractive to scalpers as a big movement is not what they are looking for. A stable market offers the chance to gain lots of small profits from many many trades

Time – A successful Forex scalper will not always begin trading at the start of a day. True, the longer they have to trade then the more they can make but patience is the key since it is pointless trying to scalp the Forex if market conditions are not right, for example in a period of large economic uncertainty.

As you can see, providing you have taken the time to learn as much as possible about market conditions then Forex scalping methods are not that difficult to implement. In many ways they are much more secure than other methods and this is why the method is becoming so popular.

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.