Your Questions About Forex Mt4
December 20, 2011 by Forex Guide
Filed under Forex Account
George asks…
What the total procedure to make a forex website?
i want to know where i have to registar to build my own forex site then from where i have to buy MT4 Platform and how much money is monthly cost to build a new forex site?
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)
Paul asks…
Help me to find a forex broker in UK with 5 day chart with a New York Close MT4.?
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.
Robert asks…
I am aware of FOREX EA’s… What about Futures Trading Robots?
Hello,
I have been doing a lot of research and there are dozens and dozens if not hundreds of EA’s for use on MT4, trading FOREX.
But I am unable to find anything on robots for Futures trading. While I look forward to manually trading Futures in the evenings, it would be nice to have something to catch a good trend during pit hours, while I am away at work.
Thanks for any tips or keywords that may assist in a Google search. ; )
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!
Richard asks…
What is the forex trading software on which you can tag the buy/sell actions?
I have been using MT4 but it doesn’t seem to allow me tag the buy/sell action. I have seen people using other software that can do this sort of thing. Does anyone know?
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.
Jenny asks…
I would like to learn FOREX trading as a teenager?
Hi, Im 16 years old and living through the last couple of years ive realized no job is safe, and that i want to be successful and live a long, healthy, and great life without having to worry about financial problems. Ive been reading about forex and practice trading on a mt4 platform but i was just wondering if anyone had any books or programs to recommend, thank you
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..
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Your Questions About Forex Demo Trading Account
November 21, 2011 by Forex Guide
Filed under Forex Account
Paul asks…
how to get profit in forex?
i have trained in demo account too . but i lost lot of money in trading . why like this. practice in demo account is not useful i think. what should i do for profit?
Forex Guide answers:
The purpose of a demo account is to find out if you are good enough to trade Forex. You have found out you aren’t. This isn’t surprising, 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.
I’ve read a lot about Forex, but I’ve never seen a proven profitable forex strategy, despite the claims of some scam web sites. Most of the strategies out there are sheer crap.
Forex is 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. 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.
Mary asks…
Forex: Where does the money comes from?
I see people making money trading currencies, I am making money with the Demo accounts, but where does all that money comes from?
Heaven?
Who is losing?
Forex Guide answers:
For every $1 made by someone… Another person is losing $1. The Forex market is made up of major banks trading. They trade currency’s for their customers. One major customer are the Forex Brokers. Other customer are institutions, countries, companies & individuals.
Here’s two things you need to know;
A. Paper Trading (demo trading) results means nothing. Almost everyone does well trading demo accounts. Demo accounts aren’t taking into account;
Volume
Slippage
Volatility
Gaps
Psychology
B. More than 95% of the people that try Forex trading fail in well less than a year.
Carol asks…
Which forex broker should i use?
I have done a lot of research learning about the forex market and how everything works. i want to open a demo account, but have no idea what broker to start with. i have heard many brokers have demo accounts that are nothing like their live accounts, and I dont want to waste my time on a demo that is not going to prepare me for live trading. I tried FXCM a few months ago but i just found out their was a class action lawsuit filed against FXCM and so that has scared me away. I am looking for a reliable dealer with a realistic demo account. i plan on doing longer term trades or swing trading, but i am not sure how that will factor into which broker i should use.
Forex Guide answers:
Don’t worry about the lawsuits. FXCM is a very popular forex broker and you shouldn’t have any issues opening a live account with them. Personally I have registered with Oanda as I found their online java platform more user friendly than FXCM’s application and even have an open position in Oanda. You need to factor in the following most important points:
1. What leverage are you going to use…Oanda doesn’t offer more than 50:1, but FXCM offers upto 200:1.
2. What currency pair are you going to trade? Both offer the common currencies, but if you are into the exotic ones, each has its own offerings.
Maria asks…
Will a forex broker reject my application?
I’ve been demo trading for a month now(MGForex), so I decided to check out the application process for when I’m ready to open a live account. The application asks questions about your current finance, education level, etc.
I’m young, low-paying job, no college etc., so my question is: as long as I’m able to open an account with the minimum amount, will a forex broker have any reason to reject my application?
Also, any general advice from experienced traders is appreciated. I’ve been failing pretty hard at demo trading and I’m in serious need of direction. It seems like forex education sites always assume that you already have all this financial knowledge, then when you try to research a term, you have to research five more terms about that term, then ten more until you end up lost.
Forex Guide answers:
No! They will not reject your application!
The only thing you should do is to decide which platform is best for you!
In your case i suggest http://best-forex-trading-platforms.blogspot.com/2009/03/fx-cast-review.html
Jenny asks…
Why are there no standardized forex options?
Hi,
Its hard to find a broker that offers forex options. The one I know is Saxobank. When I tried the demo account, it lets you choose the exact strike price (5 pip increments) and the expiry date, day by day. They are way to customized and the pip spread is always 15 pips on most of them. This tells me one thing, saxo bank is trading against their clients, so its in their interest to manipuate the spread and win when client loses.
Why are there no standardized options for forex like they have with stock options (expiry month, fixed strikes) they would be SO MUCH more liquid than those phony currency futures options.
Or correct me if Im wrong, do they exist?
Forex Guide answers:
They do exist. The Chicago Mercantile Exchange trades options on FX futures. Why are they phony? The CME trades millions of FX options every month.
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Forex Binary Options-A Powerful New Investing Tool That Can Make A Return As High As 1,328% In Just A Few Days!
December 27, 2010 by Forex Guide
Filed under Forex Strategies
Discover these Forex Binary Options Systems that can make 402% daily. Watch this shocking Forex Profit Multiplier FREE Presentation that shows a 60 second forex trading method that can be repeated multiple times a day and made 384 pips in just 12 hours. Download this award winning Forex Trading System FREE that made 2,956.16% in just 1 month of Surefire Trading Challenge. Forex Binary Options Can Deliver Massive 1,328% Gains! Forex Binary Options is a tool that 99% of the investing public hasn’t heard about yet. Forex Binary Options are a brand new currency trading tool that is cheap, easy and powerful. In simple terms, Binary Options are a bet whether something will happen or not. It is just like a Yes or No investment.
For example, you can bet on whether EUR/USD rate will fall below 1.3570 or whether AUD/USD rate will rise above 1.0000. Now, if your bet comes out right and EUR/USD rate does fall below 1.3570 or AUD/USD does rise above 1.0000, you collect your original investment plus a profit. If not, you lose the original investment that you had made in the trade.
The maximum you can make on a binary options contract is $100. So, if you predicted the market direction correctly you make $100 per contract and if your prediction turned out to be wrong, you lose what you had invested in the binary options contract. Now, the maximum payoff that you can make with one binary options contract is $100. If you win, you make $100 and if you lose, you make $0.
Let’s consider an example. Suppose, the EUR/USD rate is 1.2380. Your charting analysis makes you believe that this rate could go as high as 1.2430 in the next few days. You want to bet on the direction of the market and the best way to do that is using a forex binary options contract. Let’s make this clear with a simple example.
It is Monday. So, you buy a EUR/USD binary with a strike of 1.2430 and expiration on Friday at 3.00 PM. You buy this contract for $7 only. On Friday at 3PM, EURUSD rate is infact 1.2435. Your account is immediately credited with $100 by the broker. How much you made in 5 days on your $7 investment? 1,328%!
Suppose, instead of just 1 contract, you had purchased 30 contracts for $210 only. How much you would have made on your $210 investment in just five days? $3,000! Isn’t it cool to make a profit of $2790 on a small investment of $210.
Now, if the rate had been 1.2415 on Friday at 3 PM, you would have lost your $210. Whatever, if you have been trading forex for a while, putting a stop loss of 20-30 pips is normal in swing trading. On a standard lot of $100K, this 20-30 pips stop loss means a risk of $200-$300. If the market turns in the wrong direction, you lose this much amount before the stop loss is triggered and you are out of the market.
So trading Forex Binary Options is a powerful new method of profiting from the volatility in the currency market that you shouldn’t miss. Once you have made your bet, you don’t need to continuously monitor the market. Either you will win or you will lose. Whatever, you can open a demo account and practice how to trade binary options before you take the real plunge! Good Luck!
Forex Fortune Teller Review – An Easy Forex Trading System Anyone Can Learn For Triple Digit Gains
December 27, 2010 by Forex Guide
Filed under Forex Strategies
Wish to consider take a look at an easy Forex currency trading system which works and can always work – why? Because its based on human instinct and that will never change. Whenever your while using system, you will be taking advantage of the losing 95% of traders to pocket yourself a triple digit income in only Thirty minutes a day – let’s take phone system.
Humans aren’t logical and people individuals who tell you, they are able to predict Forex price movement in advance are wrong. If you can’t predict what people is going to do how can you win? Simple – you trade high odds set ups and also you keep losses small , run your winning trades and if you need to do this you can make huge gains. The easy Forex trading system, we will take a look at here does just that – so lets look at the logic behind it and some simple tips for success.
Greed and fear can be found within the majority of traders and these emotions will push prices to far up or down and from value, when this occurs you trade opposite towards the herd and make big money. You can observe emotions at the office on Forex charts as short sharp accelerations in price and you will also notice they soon reverse. The key to winning of course is timing your trading signal.
Within the example below, we will look at a bull market but the same logic will exist in a bear market.
Keep an eye on your charts and look for a cost spike which suddenly explodes prices to the upside and you will normally find when these happen this news is telling you move will continue after which prepare to sell.
- To time your trading signal take a look at momentum. If price is rising strongly momentum will normally go up as well and you will see this on momentum indicators such as the stochastic, the RSI and also the MACD. Look for these indicators to be overbought as well as better, to become near an extreme on the daily chart and wait for momentum to fall, as prices still rise. This is whats called bearish divergence and means it’s time to sell.
- Once you have sold put stop loss protection in above resistance and watch for prices to fall after which, as they fall, move your stop to break even and then set a downside target and take profit.
- Within existing trends, you’ll always get brief spikes up which are to far ahead of the trend and you can trade these and when you need to do its referred to as swing trading and trades will last each day close to per week. When a trend ends, exactly the same reversal pattern can there be but when you catch a trend reversal along with a new trend develops, you’ll be engaging in a trend which could last for many weeks or many months.
If you trade into greed, once the majority believe the move continues which traders are bullish, chances are you will make a large profit since the majority is definitely wrong. This straightforward trading plan can be used for brief term or longer term trading even though its simple, works and makes huge gains.
Now, without a doubt about Phil Jacobs A.K.A “Forex Fortune Teller“
Phil Jacobs A.K.A “The Forex Fortune Teller” will reveal a killer forex market technique which you can use instantly to turn $1000 into $1.A million in 2.2 Years. No chart reading or boring technical analysis involved in the entire trade process. You can even get FREE auto trade.
If you are wondering about Forex Fortune Teller Review, Phil Jacobs reputation, or is Forex Fortune Teller SCAM or even the Real Deal? You can go to: http://reviewbest.net/forex-fortune-teller-review
Obtain useful information in the sphere of easy music books – please make sure to go through this site. The times have come when concise information is truly within one click, use this chance.
Ultimate Swing Trader One Day Swing Trades 500 Pips Guarantee!
December 6, 2010 by Forex Guide
Filed under Forex Strategies
Get the Swing Trading Confidential Files from Mark Soberman FREE. Download the Seven Summits Trader Crystal Ball Software FREE. Masters these highly profitable Candlestick Patterns with this FREE 82 Page PDF Candlestick Guide. Mark Soberman: Hey, hope you’re having a great holiday weekend. I certainly am – feast, family, 6-hour marathon games of Monopoly… what more could you ask for? I wish I could stay in this state forever sometimes (aka: fat & lazy)! But the show must go on – and I’ve promised you one final release of the Ultimate Swing Trader before we end 2010 with a bang. Speaking of which, we’re just a couple days out until the doors are open for registation for my famous “10 minute swing trade strategy” and I hope you’re as excited about it as we all are. I mean, just take a look at what you’re going to get *if* you register with us this Monday:
Classic UST System that’s booked over 13,000 pips since last February (all totally documented for the eyes of our traders in the Owners Club. These are trades *actually taken* by our UST Lead Coach, Will Feibel. No random numbers, no curve-fit data – we use our own money so that when we win; you win.
Member’s Only Owners Club available only to our UST traders. Here you’ll find a treasure trove of information – advanced walk-throughs, tutorials, articles, video recaps and updates, webinars, not to mention access to our Nightly Update where Coach Will recaps the day’s trades so you know exactly what you’re doing every trade, every day.
**All-New** One Day Swing Trades that ‘does the work for you’! You get exact entries and exits with protective stops. All you have to do is set the trades in the evening, go to sleep and in the morning, check to see which trades triggered. Perfect for those wanting frequent trades but not the time commitment that goes with it.
**All-New** UST Auto Management Console that takes brand new technology and actually automates the UST strategy! Just take a couple minutes to set your trades using the Classic UST system, hit the sack and come back in the morning to see your wins. This console is even ‘intelligent’ enough to move your stops and exit at a specified percentage after you hit your first target as well as automatically trail to your second target and lock-in wins when your pip objective is hit.
It takes the best aspect of a Forex Robot (the convenience factor) and blends it with a traditional trading system to get the best of both worlds! ‘Fuggedaboutit’ simplicity with reliable results.
And how about that 500 pip Garantee? Because the UST is so consistently profitable, I’m willing to assure you that if you do not book at least 500 pips in your first month trading the UST system, you can send it back to me for a full refund. No joke, I do not want you keeping anything that’s not working for you so rest-assured that you’re taken care of with the Ultimate Swing Trader. I haven’t even gotten to Monday’s Fast Movers Bonuses (available only to those who register *on MONDAY*). If you’re interested, make sure you bookmark the link below and check back first thing, Monday morning:
