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:

To build the site you would need a domain (basically a name of website), you can go to godaddy.com and buy a name (will cost you 10-15 USD per year)

Then a hosting company which will host your webpages ($10-$15 per month)

Forex Guide answers:

I’d go with http://comefollowme.zulutrade.com/SignUp_Intermediate.aspx and then it will give you a long list of brokers you can use. For you, I’d select either FXCM.co.uk, or global.fxdd.com.

By opening your broker account through the link above, you’ll also get some additional features added to your account that those brokers don’t normally give to everyone, mainly, the ability to follow signal providers. If you are totally not interested in this feature, and you’d rather just use MT4 (or, if you’d rather BE a signal provider), you’ll need to go directly to FXCM.co.uk and set up an account with MT4 access. But then you won’t have access to the something like 8,000+ free strategies that you get access to by using the link I gave at the top. It’s up to you though.

FXCM by the way would be my first choice, since they have no dealing desk. FXDD has a dealing desk, and their disclaimer says they make profit when you lose money, and they lose money when you make money, so watch out, because they actually want you to lose. That’s what a “dealing desk” is. Oh, and their disclaimer goes on to say, that their prices which they send to you are fabricated, and they can make the market appear to move against you anytime they want, and they can make the market move in different directions for different customers at the same time. Very scary stuff.

Both FXCM and FXDD are really big though, and both of them are compatible with signal providers, and both work with MT4 also.

EDIT: I don’t think MT4 supports 5 day charts.

Forex Guide answers:

I haven’t also come across any automated futures trading system or what you are calling a futures robot. There are many futures contracts that you can trade. Maybe this has to do something with the nature of the futures market. You haven’t mentioned what type of futures contract you want to trade. Infact there are many dozens of futures contracts like stock index futures, crude oil futures, interest rate futures, commodity futures, currency futures and others. Futures markets are a lot different from forex. Futures market is a highly regulated market. You can find both price and volume in the futures market unlike forex where you only have the price action.

I came accross a swing trading strategy that works for forex, stocks and futures. This swing trading strategy takes not more than 10 minutes to trade each day. Many people think that automated trading is the solution or what you call the Holy Grail. Infact there is no holy grail. Successful traders are those who learn to trade manually first. Automated trading systems without knowning how to trade manually do not give good results as market conditions keep on changing and if you have the feel of how the market is changing you can change the setting of the automated trading system. You can only develop the feel of the market by manual trading. First practice and paper trade for one to two months. Only then trade live. Good Luck!

Forex Guide answers:

If you just want to draw something on the chart with some text or whatever, you can use the CreateObject function in MT4.

I post my buy/sell signals in real time right here: http://comefollowme.zulutrade.com/Performance.aspx if you are interested in following me. Also there are a lot of other professional forex traders there who are also posting their buy/sell signals in real time. It’s a great alternative to MT4 if you are having trouble with MT4.

Forex Guide answers:

Forex is a very risky business if you don’t know what you are doing and it takes years to learn and become good at it..

Forex Guide answers:

No broker knows whether any thing is going up or going down. Most of them look at charts and recommend that you follow a trend, but even if they are right, nothing goes straight up or straight down, so even if you buy something that is going up, it will have down days which might result in a margin call and you might be forced to sell.

I suspect that a lot of brokers tell half their customers to buy and tell the other half to sell short. That way they would be right half the time but woud get commissions all the time.

T Boone Pickens made seven billion buying oil futures. But when oil peaked out he hung in there and lost several billion.

Forex Guide answers:

A market order is an order to buy or sell a stock at the current market price. Unless you specify otherwise, your broker will enter your order as a market order. If you specify the price- thats the create order. See for further explanations http://www.howtotradeforeigncurrency.com/how-to-place-a-market-order.php

Forex Guide answers:

It is always false on the cover page. This is to attract people and just make profit through it. I cannot trust anyone like that. I follow only FINEXO because many of my friends have already used it and i am using it since last 2 1/2 years.

The best things i like about Finexo is :

1. Leverage ratio: 1:200 which is quite manageable as high leverage will lead to greater pressure on traders.
2. Rolling charges are quite low compared to other platforms. Also they charge different rates depending on gaining or losing position which is good for traders.
3. Easy deposit and withdrawal facilities.
4. Great fund managers controlling my accounts very well, specially when i am out of trading for some days.
5. 24hr customer services available. Can have live chats directly through Finexo sites.
6. Mobile Alerts and mail alerts
7. At the last, Very well timed forex alerts and tips in order to derive profit through those news.

Forex Guide answers:

Money management in trading is probably the most overlooked but important skills you will NEED to master when Trading Forex or any other Financial markets. It is at the very core of any profitable trading system.

With a good system it is possible to make huge profits whilst still only being correct with your trades 50% of the time.

Learn how to trade yourself without the Robots. It takes discipline and nerves of steel.

Forex Guide answers:

You need to read and read to learn forex trading. You can visit this site and register to get a free ebook, a free demo account and the opportunity to chat with a LIVE personal Account Service Manager. Talking to an expert forex trader is a lot better than classroom classes. Forex is a volatile market and you need the utmost guide which only these expert Account Service Managers can give.

Forex Guide answers:

There are two resources I would recommend.

The first is a video course by David Waring:

http://www.informedtrades.com/f112/

The second is an educational site:

http://www.babypips.com/school/

Both of these sites also have forums where you can joint a community and ask questions.

Forex Guide answers:

I agree. Oanda.com has a platform they call FXTrade that satisfies all 3 of your requirements. The spreads cannot be beat by any other retail forex broker to date. Oanda is able to do this primarily because they don’t have an affiliate or referral program. Less middle men the better. (Despite Oanda themselves being a middle man, haha)

Forex Guide answers:

It depends on the platform. If you mean MetaTrader 4, yes, installing it onto a USB drive should work.

Forex Guide answers:

What I can suggest and strongly recommend for you is the automated Expert Advisor system which I use , This EA analyze and trade for you all on autopilot .
I recommend this system just for my close friends as it’s the best i used till now.
It cost $97 and You can try it on demo.
It also has 60 day money back guarantee , so their is no loss.
I purchased it 3 weeks ago and satisfied with it so much and sure you will.
Its website:

http://www.ForexTracers.com

Hope this will help you

Forex Guide answers:

It is not easy to earn money in forex. Thats a wrong thought.
All investment vehicles has risk. Forex has it too.
Those who earn money in forex has a Proper trading system.
Understanding PRICE ACTION in forex is the key.

Until you are profitable in your demo account, then you move on to trading real money.

From my 14 years of forex trading experience.

Asia Forex Mentor,
Ezekiel Chew
http://www.asiaforexmentor.com/