Hi i know alot already about investing and trading, i have spent way too much time reading and learning the subjects. I am almost 20 years old. Next year im starting college. I wil major in finance and international business, once i get out ill get a good paying job. Ive already started saving a little bit of money and trading stocks/forex for now. For the past 5 years i have easily out performed all indices and most hedge funds, all mutual funds. I use trend following simple very simple. look for trends cut loses at 5% let profits run… even if i have more losers than winners this strategy allows me to come out ahead, this is what great traders do anyway. i want to work at a hedge fund or prop firm and start a roth IRA, and let my compound interest in stock trades/investments make a millionaire by the time im 32 and double digit millionaire by 40. does my plan sound good?
For forex trading, this should help you be in the top 5% of the forex traders community
Can i use Zulu Trader to trade a mini forex account?
I see that Zulu Trader has an app for the Iphone and i have a mini fx account with FXCM. I was just curious whether or not this is compatible with the mini accounts.
FXCM accounts have the ability to trade mini lots, so whichever account you choose would be compatible.
Are forex trading re-quotes due to the trader posing profit risk to the Market Maker’s dealer?
I understand there is a pause of a few seconds for the trader’s order to be confimed. Once the trader key in his/her confirmation, and the price is a loss/threat to the Market Maker’s profit, a re-quote ( stop loss) at the Market Maker’s panel/benefit is activated?
Any time you don’t pay a commission for a trade, as is most of the times with Forex, you are at the mercy of a market maker that can legally back out of a bid/ask. It’s an unregulated market. Some forex brokers are better than others (Tradestation / Mann, IB), but IMHO trading futures on currencies (in the US) is the better way to go. Most spreads are one tick tight on the majors, you are dealing directly with other traders posting bids/asks, you can see the depth of the markets, and it’s fully regulated. One big difference is the capital required to trade futures is usually higher than the capital required to trade forex. And that can actually be a good thing. I think I traded Forex about a half dozen times with Tradestation a few years ago, and quickly went back to Fx futures.
If forex works for you, except for the dealer issues, try another. There are plenty out there. There is a Traders Expo in LA next week, mostly for stocks and futures, but some forex people will be there. If you’re in the area you may want to stop by. Doesn’t cost anything for the exhibit hall, and most of the workshops sessions are free as well. There’s also a Forex Expo in Las Vegas in September, usually smaller than the Traders Expo, but both are good shows for traders to learn from. Many real-time presentations as well. And if you do get to one of the shows, IMO the person that you should see that can teach you a lot is John Person. Most all of his Expo workshops are free, and he’s one of the only presenters that DOESN’T hound you to buy one of his books or videos. A great teacher.
If you are into foreign exchange trading or currency trading online, it is important to help yourself in finding the best online forex trading tools that can maximize the profit you can get. Of course, that is your goal. Foreign exchange trading these days is moving towards automation and moving online as well. With the wide reach of the internet as well as the automation of some of the trading processes, foreign exchange has become a lot easier and convenient as well, but of course, the risks are still there.
Forex trading is indeed a risky business. In fact, you cannot just trade without ever losing. You have to expect to lose in the course of making money in the currency market. As the currency rates fluctuate every second and every minute of the day, you as trader, must be equipped with the right and the best online forex trading tools that allow you to make predictions and read trends that can guide you to make wise trading decisions later, and of course make the most profit.
Of course, in online forex trading, you need to be equipped with the best online forex trading tools to help you trade fast and quick as soon as market conditions allow you to trade and make good profit. Although you are doing the foreign exchange trading online and in most cases, are already automated, it is important to make sure you have the best tools as well.
You can save time by getting yourself a forex robot or a forex software that allows you to automate your technical analysis, data gathering as well as spotting the trend. Although not all foreign exchange software work the same, choosing which is best for your trading style and technique is always important.
With a trading software or a forex robot, you will save time in monitoring currency prices and generating currency price trends that is important in making profit in forex. You can also choose forex robots that can help you automate not only the technical analysis but including the trading itself, but of course, it would still be guided by you and your trading strategy.
In choosing the best online forex trading tool, make sure that it fits your trading strategy as well and make sure it is something that is easy to use. Of course, you don’t want to spend so much time tinkering on the tools and menu of your forex software, given the round-the-clock operation of the currency market.
To get the best online forex tool, it is also important to practice on it and learn everything about it. For sure you don’t want a tool that can fail you during actual trading.
Keep in mind however, that even if you put your technical analysis and charting into automation, it is still important to consider other factors that may affect the currency market by also doing the fundamental analysis. Successful traders indeed, do not just rely on charts and trends, they also know how to read the socio-economic as well as the political conditions of the countries they are concerned with.
Carolyn Anderson does forex trading to make extra money at home. To learn a few tips and tricks in forex, check out Forexoma Live Market Analysis. Also check out Successful Forex Trading, where you can learn a formula to become a successful trader.
Any additional information is appreciated. Thanks a lot
Also I wanted to ask whether it is worth learning about FOREX and whether it is possible to eventually gather enough knowledge and experience as a single person to make profit or not? As essentially you’d be competing against professionals… thanks
Agree with the second reviewer. Forex trading is basically a zero sum game and slightly negative in consideration of brokerage fee. Retail investors are likely speculators for short term gain. It is similar to the scenario of casino. Professional traders are also speculators but they are equipped with better inforamtion and tools for the market. Corporate traders use Forex for hedging purpose on their business to minimize risk in currency fluctuation. These three category of traders entered into a zero sum game.
From the tone of the question, it seems to learn the skills of a professional trader to compete in the market. If you treat it as a game with a small amount of dispensable income, it may be fun just like playing in a casino. Indeed it may be more interesting than casino gambling since there is stragtegy and competition in the game and less depending on pure luck. But it is not a good idea to think of forex trading as a stable source of profit although professional traders may be able to achieve such objective.
From the point of view of investment, stock investment (not trading) is a better game since in the long run (I mean decades if not years) stock market has an up trend. Temporary loss (may be years) would not hurt long term profit. For speculative trading, stock is more favorable to retail investors than forex since retail investor can hold on to wait for up trend. But again, speculative stock or forex trading should not be considered as a reliable source of profit.
Lastly, I think personal trait is also an important factor in the success of speculative trading besides learning the skills and pure luck.
What is Forex Trading? Stock Markets? Live Trading?
Tal Herman and his team have developed a Forex signal software that is unlike any other signal software or robot. But what makes it so unique compared to the others?
One Signals Machine review claims that this machine includes a revolutionary news protection feature and trade management feature. Unlike other signal software and robot, Signal Machine uses a new technology wherein the trader gets the news built in to the chart. Because of this feature, the trader is prompted of the news hitting the market and interfering with the trade and is therefore prevented from making losses. The trader can then optionally stop trading before and after high impact news. Moreover, the trader can optionally stop getting signals as well. This News protection feature is definitely one of a kind and unique only to this signal software.
Another amazing feature of this Forex signal software is the Voice Notification. Whenever there is a potential trade coming and the MetaTrader platform is minimized, the trader will be alerted about it since a voice notification will be played. A trader is notified for a Buy Signal Message, Sell Signal Message, and Possible Signal in 15 Minutes Message, and Scanning for Trades Message. Moreover, an Email notification feature is also built into the Signals Machine. It is a known fact that no matter how good a system is if the trader is not alerted on time, he won’t really be able to execute the coming trade. Thus, Tal Herman and his team made sure that the trader is alerted through an email notification technology that enables him to get his email messages directly to his mobile phone. With this feature, there is no way that a trader misses a coming trade.
To top it all, according to a Tal Herman’s Signals Machine review, this machine powerfully combines three different strategies of generating signal after signal on the GPB/USD pair. In fact, Tal Herman will even reveal how to take easy and safe pips with a single mouse click.
To Learn How You Can Use Tal Herman’s new Signals Machine to generate easy pips with one mouse click and to see all the features included in this new signals software, visit our Signals Machine Review site.
Can anyone help me program a forex trading algorithmic strategy for use in ACTFX ?
I need someone to help me program an auto trading strategy for use according to ACTFX programing, consisting of the hammer, hangman candlestick patterns, they have one on the site but I want one which open a buy/sell position only after a confirming candle next to the hammer/hangman pattern.
Or if you know how I can edit the existing strategy , that would help too
Thank you very much in advance
there are many kinds of trading features in forex you better have a search on trading the source which is given below if you are well determined you can figure it out whats gonna be are you up to the challange!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Is Forex Tracer a SCAM ? Just Like Forex Auto-Pilot is a SCAM ?
I was looking for a good forex system and came across this new system called forex tracer. i did some checking and the site looks bogus! the web site is brand new ! The web site was created only a month ago created on: May-20-08. then i found this video on youtube in the forex trading section.
http://www.youtube.com/watch?v=kumIdAAxsZs
if you have any more information about this full time niche marketer please share your information.
http://www.youtube.com/watch?v=kumIdAAxsZs
It Looks like the web site ” Forex Scam Check” is hot on there trail!!!!!!!!!!!!!!
i hate being scammed by marketers who pretend to be forex trader. and it seems like all the reviews are made for SEO and are fake i wish people who create this garbage like forex tracer and forex auto pilotwould stop trying to swindle us out of our money! the forex community is to small it will not work very well
Many forex “review” sites are affiliate marketers just looking to earn a quick buck from affiliate sales and you have to watch out from them (hem, hem, above answers)
If you would like to read a full detailed review of Forex Tracer, feel free to read this review taken from a work at home entrepreneur’s blog
Would you report a small net loss on investments on your taxes?
Here’s the deal, I’m trying to decide whether to buy Turbotax premier (which includes investments options) or deluxe ($20 cheaper.) I had done some forex trades which unfortunately resulted in a net loss of ~$140 in 2009. Is it even worth it if I report this loss? Do I need to report it? Will I see a potential gain in my refund?
Depends on your tax bracket and if you itemize your deductions.
If your income puts you in the 10% tax rate and you can itemize, the investment loss of 140 could save you $14 (10%). If your in the 15% range and you can itemize, the savings are $21, enough to pay for the program (unless you pay sales tax
There are savings at the state level as well, assuming you live in a state with state income tax (ha ha ha).
i wish people who create this garbage like forex tracer and forex auto pilotwould stop trying to swindle us out of our money! the forex community is to small it will not work very well
