Does anyone make any consistent profits forex trading?
Been studying Forex for a few years now and struggling to find consistency but also starting to wonder if its actually possible to be consistent in this market. Do you have a consistent method or approach? Would you mind sharing it with me or perhaps even mentoring me? Not looking to be Warren Buffett – just looking to support my family with alternative sources of income. Any assistance would be gratefully appreciated even if its just directing me towards sources or other Forex systems.
What is the best platform for spread betting and CFDs? I’d like to trade UK, European and US equities, indices and single names, as well as forex and possibly other assets. Thanks a lot
Hargreaves Lansdown at www.H-L.co.uk can do this all for you.
Disclaimer:
The answers above are for guidance only and should not be acted upon without you receiving independent financial advice relevant to your circumstances. To find and IFA please call 0800 085 3250 or go to http://www.unbiased.co.uk.
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do you think it is possible to create this kind of program?
I’m really into FOREX and stock market trading, what if I made a program software that does the trading beased on strategic calculations.
Let’s say I wanted the program to watch 12 different currencies and depending on the situation it would buy or sell according to the commands i give it. Is this possible?
What you are saying caan be done but what if there is a catpcha
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Are most online ForEx brokers like FXCM or MB trading good at hitting your limit buy and sell orders? I’ve read so many mixed reviews online about slippage, scalping, etc. Many horror stories, but stories of success. If I have a plan that I’ve tested on a simulator that works, will it work with one of these brokers? (the simulator uses the same spread essentially with real historical data)
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.
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Which credit card is suitable for forex trading in india ?
I need the credit card for online money transfer,ticket booking and little bit purchase.suggest me the cheapest and best value credit cards having low interest and annual charges.
ICICI ,HDFC ,AXIX ,SBI ,BARODA banks are avaialable in my town.
Thanks in advance !
ICICI
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How do people know that BOJ invervened in Forex market?
There were any signs such as significant Yen’s price change, trading volume or anything else? Or BOJ just confessed after the intervention? I’m newbie in Forex so i need a clear explanation.
Thank you so much!
Pull up a daily trading chart of USD/JPY currency pair. You will see a significant rally in USD (and simultaneous decline in JPY) happen on 9/14.
This was the result of BOJ intervening by selling JPY against USD. Estimates of the size of the intervention are ¥1.5 trillion, or a little over $17.6 Billion.
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An Intraday EUR/CHF Descending Channel is Creating Scalping Environment
Seen as a risk-on, risk-off pair gauge for Europe over the past few months, I noted that “the EUR/CHF has appeared to have completed its most recent advance”; accordingly, the pair has declined as expected. A Short Term Forex Trading Strategy . Learn Forex Strategies Online
Is it possible to obtain wealth from trading options?
Such as call and put options. Also does anyone know about forex trading? What tax benefits or pitfalls might one incur trading options?
Theoretically yes.
However MOST people accumulate wealth by investing. Trading options or forex is speculating, not investing. In other words, it is gambling. You can be well skilled and educated and still lose your behind very,very quickly.
Such trading is at the top of the risk charts, so yes, potential returns can be impressive but they come with a very sharp potential for a complete loss.
When you invest in stocks, bonds or mutual funds, you still have a risk of loss, but the odds of a total loss are slim, and you usually have time to get out before suffering a huge loss (unless you are also speculating with high volatility stocks).
Investing is not speculating. Investing combines an educated guess (no one really can guarantee a profit) with a moderation of risk. A lot of research shows that most investors do not do better by taking on higher than average risks. In other words, slower and steady wins the race.
As to tax issues. There are no benefits to short-term trading of any security. In fact all profits are taxed at your highest marginal rate. This is one more reason why trading rarely results in huge profits. By the time you subtract ticket charges and taxes you have to have a really big profit for you to end up with a better after tax return.
There are conservative strategies for options when combined with stocks you own. These strategies can add income to your portfolio without being significantly speculative.
People build genuine wealth by staying out of debt, by spending less than they earn, and by investing the difference wisely. If you start this as young as possible and routinely increase the amount you are saving and investing, you will build significant wealth.
However, just as with playing in Vegas, speculating is gambling and while a few walk away long term winners, it is ONLY a few that do win. In the short term, anyone can have a measure of luck, but in the long run, it is pretty rare.
The traders that survive on options and forex are big boys, with big wells of cash and years of training (and losing) behind them. They survive as much off the thrill as the wins.
But understand this, any wealthy trader is never playing with his full pot. He still has most of his assets in more secure investments. In fact, studies have shown that those that take the biggest risks with some of their money, have most their money in ultra-conservative investments. This is how they balance the high risk choices they make.
But if you’re still determined, start reading, take a class and paper trade (trading simulation) for several months so you can establish techniques and indicators that work for you. Until you have both skill and discipline, you might as well just take a lighter to your money.
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Forex trading has proved to be a lucrative business of all time. However, to be able to make a profit from it, you should receive the necessary skills required to let you do forex. There are undoubtedly many ways that you can make your Forex Training Courses. Some free online sites will give you some basic training on what you need to start trading. Some other sites and institutions will charge you a fee and give you a one on one service over. This enables you understand the theoretical concepts and also be able to handle a living Forex trading session.
To be a successful forex trader, you will need a mentor, a proven trading system and straightforward strategies that can easily be implemented. By knowing what to do on a daily basis, you can boast earning profits in your perfect trading. Failure to grasp the essential concepts and strategies will produce the opposite happen. Therefore, it is necessary to get expert forex trading courses.
As a result of the Internet revolution, it is now easy to deliver high quality forex courses from wherever you live around the globe. Experienced traders will certainly require some refresher courses while the beginners can be offered safe and easy ways to learn and make living as forex traders. Most of the course material is easy to follow and written a step by step to make learning easy.
The material becomes old over time by experienced professionals hence making it possible for you to get a course that will deliver you results. The course should familiarize you with a demo account that resembles the real trading account. This enables you get used to the trading platform since no meaningful results can be obtained if you cannot use the right tools efficiently.
The right trading methods and risk free strategies are also learned in forex trading courses. Since this trade has some jargon in it, you will be able to understand one by one. It is easy to understand in due course of time with sheer practise. Initially it is a bit tough to break the ducks.
You will also learn on how to set your computer for forex trading. Without the right course, it will be pretty hard for you to learn this on yourselves. It should be learnt in advance about the crucial money management strategies. If not then forex trading may bring you some problems. This is because you may hold excessive float or run short of trading cash, which will endanger your business.
You will learn many aspects of forex trading such as strategy, methods and cash management. You also get to learn how to set your computer for forex trading hence enabling you to reap profits. The jargon associated with this trade is complex. Hence the training course will elaborate them to understand better.
Forex training courses seeks to invoke the interest in you and also impart you the necessary knowledge. That is mandatory for you to be a successful forex trader. The training courses can be delivered online hence its possible to learn from anywhere in the world. Some sites may offer you free training and a demo account while others will charge you some fee.
The best forex training is still done one on one or in small groups. If you can get taught by active traders then this would be a better foreign exchange course than one online, because you can ask questions.
Investing as a sole proprietorship vs individual for tax purposes?
If I wanted to set up a sole proprietorship company for my day-trading/investing in the stock market/forex…
Can I write off all of the stuff I would need (a % of utilities, courses, new computer to trade with, etc) as business expenses and claim the investment revenue as Capital Gains so that 50% of it is automatically tax free right off the top, or would I have to declare it as business revenue and pay based on the full amount?
If I can’t offset expenses as a company but claim the earnings as capital gains then it probably isn’t worth it, right?
Whether your day trading/investing as “sole proprietorship vs individual” is the same for tax purposes, i.e., reporting the transactions on your personal tax return (T1 return), rather than in a corporation tax return (T2 return).
If you are serious in your day trading business (proven stock knowlege, # of trading transactions daily and time involved), and if your trading has a reasonable expectation of profit (making money), you may deduct a reasonable share of expenses mentioned by you. However, that means you have to report the gain 100%, not 50%.
On the other hand, if the CRA considers that your day trading has no reasonable expectation of profit, it may deny all your “business” expenses.
Capital gains are generallly for stock investments with a buy and hold strategy, rather than for day traders who flips their stocks daily or within a short time (known as “adventure in the nature of trade” in taxation). Under the capital gain scenario, you may deduct your interest or margin charges for the stock purchases.
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