February 29th, 2012 | by tibby | forex trading
How to trade Forex successfully? I guess this would be forever and ever the problem that all the Forex traders concern most. In my previous articles, I have mentioned many Forex pips or Forex strategies that may possibly help you do well in your Forex trading. While I don’t think that is enough for I believe that it will always do you good if you can have the Forex education as much as possible. Now then how about staying with me and figuring out another good way that will give you a hand?
Actually the way I am going to talk about is what Forex traders refer to as Forex signals services. In the market, there are many Forex signal providers available, offering Forex signals which are converted into trade orders. Also Forex signals services can offer traders data analysis, advices, alert and so on. The reason why it has become so popular is that the services provided to traders are all from human experts, and there is no doubt that most of the time they know how to trade Forex successfully better than Forex beginners. These experts serve as the Forex trading signal providers and provide their own technical and fundamental analysis.
Normally the process of executing trading orders is generally like this: first Forex experts give out their Forex signals; second the Forex signals are instantly converted to trading orders; the last but not least is that Forex traders themselves should monitor the trades and then make decisions about whether it is good for them to use. To be honest with, the third point is not only important but also essential step to Forex traders. Since nobody in the market is identical the same and each has different features from the rest, therefore it is extremely for traders to keep a watchful eye on whether the Forex signals provided by human experts are suitable to him or not. Just like what I have emphasized thousands of times before, only when Forex traders have already had enough knowledge of the market and know how to trade Forex successfully using his own trading plan can he really be a winner.
In a word, after knowing well what is Forex signals services; I believe that the most important thing that can help Forex traders understand how to trade Forex successful is to combing suggestions and analysis provided by Forex advisors with his own trading experience in order to tell whether the Forex signals he got can really help.
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February 29th, 2012 | by Wendy | forex for beginners
As more and more people engage in forex trading, it gains much popularity all over the world; a large amount of people choose to invest in forex rather than stocks, futures etc. people may wonder why forex trading is so prevailing? Are there any vital advantages forex trading has? Needless to say, the answer is affirmative. You are bound to agree with me if you take a look at what I am going to state below.
First of all, the forex market is much more accessible than other financial markets. The forex market run around the clock, that means, it operates 24 hours without rest from Friday to Sunday. People have much flexibility in choosing the forex trading time according their own life style and work arrangements. Even those nine to five office workers are able to enjoy forex trading after work. Stocks and futures market just run at a certain period a day, people have limited time to manage their investments. Moreover, forex traders are able to respond to changes anytime because the forex trading market is open around the clock. A forex trader is able to start forex trading with only several hundreds of dollars in their account while taking charge of a large amount of money in forex trading, which is because the high leverage permitted in forex trading. For example, if leverage is in 100:1, a $1000 investment would put you in charge of $100,000, which gives traders better chances to get more profit.
Margins are an important factor in deciding profit in forex trading. With a trading margin of 100 to 1, an investment of $1000 could result in a profit of $1000 with just a 1% profit. By the way, some best brokers provide margin much higher than 100:1; for example, IKON provides trading margins up to 500:1. The margin plays an overwhelming role for the popularity of forex trading.
Different from stocks and futures market, forex traders have the chance to get profit either in an upwards or downwards market trend in forex trading because forex traders are allowed to buy fall and buy rise, giving forex traders much flexibility in forex trading.
Last but not the least, forex traders get more chances than stock traders as well as traders of other investments to hone their experience by demo software provided by a large number of forex broker companies. They are able to open forex demo account to try their luck without losing their own real money. So they can get experience before forex trading for real.
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February 29th, 2012 | by Ella | learn forex
Entering a trade at a good price point is a good start for forex trading. Once forex traders already know the currency pair to buy, the first task for them is to identify possible entry points. Therefore, in this article we will discuss on how to get into a position.
First of all, in order to execute the forex entry strategies, you need tools to do this:
.Candlestick Charts – Candles provide a raw analysis of price moving.
.ECN- ECN provides a look at orders as they happen.
.Real-Time News Service-News moves the forex market. This tells you when news comes out. Of course, nowadays many forex platforms have this function, such as IKON Multibank.
Now with tools, we will look at by far the most popular forex entry strategy, the “breakout.” In a market with significant and consistent movement, using a breakout strategy is very appropriate. Here we will discuss the two most popular breakout entry methods – the Support and Resistance Breakout and Trend Line Breakout.
Support and Resistance Breakout
Whenever the price breaks a support or resistance to form a new support or resistance level, it will usually continue to move in its direction. Therefore using the major support and resistance for entry is a good way.
Trend Line Breakout
The trend line break is one of the most commonly used ways of getting into a trade. However the problem face by most traders with this method is the occurrence of fake breakout. So for this method the key is to judge the real and fake breakout.
Fake trend line breakout
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February 29th, 2012 | by Wendy | forex for beginners
More and more people want to try their luck in forex trading, thus learning forex trading is essential for them. Are there any methods to master forex as quick as possible without losing much money? The answer is, without any doubt, forex demo account. Forex demo account is risk-free and easy to use. Forex traders do not need to worry about making a loss when trading with forex demo account. Moreover, a great deal of forex brokers provides forex demo account, giving forex traders much convenience in opening a forex demo account. With all those advantages, forex demo account seems perfect. But there are things need to be noticed when forex traders use a forex demo account.
Take forex demo account as a live account
Forex demo account is free of charge, which may result in carelessness in forex trading. Put it plain, forex traders do need to use their real money in forex trading, so they are prone to be not as cautious as trading forex with their own hard earned money. Trading forex in such attitude with forex demo account won’t lose traders a buck; however, it is not good for developing good trading habits. Traders are prone to be careless when using an active account.
Selecting a reputable and reliable broker to open demo account
Before opening a demo account, forex traders should make a survey to find a reputable and reliable broker. It is not rare that some brokers disappear without any notice, which brings losses to demo account users. They have to stop their half-finished simulated trading. That’s really a pity. By the way, such reliable brokers as IKON are able to provide professional analysis and updated news for forex traders.
Do not use commonly used passwords in forex demo account
Some people like me get accustomed to using the same passwords in many accounts in order not to forget. It is undeniably a good way to avoid forgetting passwords. However, it may bring trouble for potential users of active forex account. Hackers may enter into their active account easily, making use of the passwords of forex demo account. Thus, in order to guarantee account information, forex traders should not use commonly used passwords in forex demo account.
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