Question by atha: What is the simplest forex trading strategy which applicable for beginner?
Forex market is complicated but still challenging to get cash from there. It’s about how to trade in this market for long term.

Best answer:

Answer by ahmadnugroho
If you’re a potential investment player who’d like to make it big in the business and financial world, then you go for forex trading. The FOREX, also known as the foreign exchange market is one of the largest financial markets in the world with and estimate of $ 1.5 trillion turn-overs every day. Here are a few strategies on how to make it big in the forex market.

Strategy One: Know your market. The best way to get advantage, earn profit and minimize losses is to familiarize yourself with the market and how the whole system works. In the forex market, the players are usually commercial banks, central banks and firms involved in foreign trade, investment funds, broker companies and other private individuals with large capital. With the speed and high liquidity of asset, most companies engage in this business than in any other trading venture. Transactions are done in a jiffy; there are no membership fees and there is always the allure and promise of big, big profit.

Trading is done in pairs. The most commonly traded currencies are usually the US Dollar, Japanese Yen, Euro, British Pound, Canadian Dollar, Australian Dollar and the Swiss Franc. The more commonly traded currency pairs are the US Dollar and the Japanese Yen, the Euro and the US Dollar, the Swiss Franc and the US Dollar. In Forex trading, everything is speculative and virtual. There is no actual product being sold or bought. The activity mostly consists of computed entries made on the value of one currency against another. Say for example, you can buy Euros with US Dollar, hoping that the Euro will increase it value. Once its value rises, you can sell the Euro again, thus earning you profit.

Strategy Two: Learn the language. There are three concepts you need to know in the currency market. Pips refer to the increase of one hundredth of a percent of the value of the currency pair you are trading. Usually each pip has a value of $ 10 or $ 1. Volume is the quantity or amount of money being traded at one particular time in the market. Buying is the acquisition of a particular currency. A trader buys with the hopes that the price of the currency will increase. Selling is putting a currency up for grabs in the market because of a potential or possibility of a decrease in its value. There are also two techniques of analysis usually used in this business – the fundamental and the technical analysis. Technical analysis is usually used by small and medium players. Here, the primary point of analysis revolves on the price. Fundamental analysis, on the other hand, is used by bigger companies and players with higher capital as it involves looking at the other factors affecting the value of a particular currency. In this type of analysis, the player also looks at the situation of the country, particularly issues like political stability, inflation rate, unemployment rate, and tax policies as these are seen to have an effect on the currency’s value.

Strategy Three: Develop a sound trading strategy. Your trading strategy would depend on what kind of trader you are. The basic thing with developing a trading strategy is to identify what kind of forex trader you are. A good trading strategy should lessen, if not, eliminate losses. Plan also the size of your transactions. It is better to conduct many different trades than one huge transaction. Not only does it develop discipline, but it also lessens any possible loss as only a fraction of the capital is affected. Part of a trading strategy is developing the values of discipline and proper money management.

Strategy Four: Practice. Try paper trading, a great way to practice your skills, see how the market works and get acquainted with the software and tools being used. There are online brokers who allow free paper trades, which allows practice and experience before doing it with real money.

Strategy Five: Choose the right forex dealer. Make sure that they are regulated by the law. Take not of dealers with investment schemes that give out too-good-to-be-true-just-false-hopes promises. Look at investment offers before getting started.

Forex trading may seem easy and manageable. But the emotional stress, the demands and challenges of being a forex trader requires more than just the knowledge of the market. It requires more than just a keen and sensible head for business. It’s all about a gameplan, a strategy.

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Question by : What is the best Forex book for medium to advance investors?
I want to get a book on Forex but I am not a beginner. I would like to learn better strategies.

Best answer:

Answer by catherina
Save your money, the only thing books will give you is the basics, nothing more, not in any ive read. If you are looking for the best forex software, visit this site

http://the-best-forex-software-in-internet.blogspot.com/

This software is the best software that can help increase your trading profit and user friendly.

Best Wishes,

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bit.ly – Important Foundations and useful Forex Info tinyurl.com – Important Trading Signals to help teach when to buy and sell Forex Trading (also known as Trading Forex can be Easy Forex with Some important Resources and Tips: bit.ly Forex Trading Strategies/ Forex Tutorial:...
Video Rating: 4 / 5

www.forexstrategysecrets.com, How to recognize the difference between trend reversals vs retracements in the trend.
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Question by alkalinezachmo: when funding a forex account, do you need to give the company a copy of your passport and utility bill?
I am looking to open an eToro account and I am not comfortable with giving a copy of my passport and a utility bill to the company, are these things necessary? Also if you have a good forex site for people with small amounts of funds such as myself, what would you be using? Thank you.
Have you guys used etoro? I like how its setup and the pips are really low. Plus the starting amount is very small.

Best answer:

Answer by Diagnostic Ddt
yes for a passport if you don’t have a driver’s license. I don’t you need to show your utility bill. I never had that problem before.

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www.fxempire.com – Dec. 9th, 2011 currency daily technical analysis for the USD CAD. Find more information about Forex News (www.fxempire.com Forex Technical Analysis (www.fxempire.com Forex Fundamental Analysis (www.fxempire.com and Forex Brokers (www.fxempire.com on FX Empire (www.fxempire.com

Question by Jacky: How to set up a forex introducing broker service in Australia?
What personal qualification and criteria do I need to register an Australia Forex Introducing Broker Service? Some forex brokers tell me to get an AFSL license but I am not sure whether I am eligible to get one.

Best answer:

Answer by Paul E
If you want an answer, it might be better to contact ASIC, or another authority rather then random strangers.

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Professional Forex Trading analysis by Sive Morten with Forex Peace Army. Videos are recorded fresh daily to help forex traders stay profitable.
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www.4xlearning.com Contrary to the stock or commodity markets, Foreign Exchange or Forex, is traded in pairs. It’s common sense really, because when you exchange money with money instead of goods, you need to specify what you are using to exchange with what… It may sound confusing at first, but just bear with me for now…
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