Forex Trading Tips and Reviews

I’m interested in making money on the Forex?

Do you have experience that made you profitable on the Forex, do you have any tips, pros and cons, things to avoid, recommended places to trade through? Any advice you can give would be Most helpful and So appreciated. Thank You!

Hello,

I have been trading Forex for about 5 years now. In the last 2 years or so I have been very successful, pretty much every month with very few exceptions.

I trade with FXCM U.K because I have had no problem with them yet.

If you are new to Forex than I recommend that you study a profitable trading method, back-test it thoroughly, trade it on a demo account for several months and if you get good results than duplicate your actions on a live account.
Although it might seem like a long route, it is a for sure thing.

Are there short cuts?
well, in my opinion, if you do it on your own than any short cut will be riskier than the previous plan.

Being a member of an online trading community is extremely useful and having a good personal trading coach is the ultimate and will save you lots of time, money and frustration.

I hope that you find my answer useful.
Happy trading.

Designing Vs Modeling Trading Systems | And Forex Review

fraud trial hears of Wall Street insider "cutting edge" of insider trading most sensational trial, has heard that a former trusted colleague of the accused cheated to get "money" for your business.
Secret Forex Code-Mechanical Trading System Makes 365 Pips!

The Relative Strength Index, known as the RSI, is the brainchild of J Welles Wilder jr. It shows the rate of change in the share price, and should not be confused with relative strength as a measure of well the price is performing against others.

Some technical analysts describe the RSI as a less jerky version of the Momentum oscillator. It is sensitive and so best used in a trendless market.

The RSI is simple to calculate, and is usually done over a 14 day period. First, focus on the RS, which is the average of the up closes over the period, divided by the down closes. The RS should be added to 1 to create 1+RS. Divide the number into 100, and the resulting figure should be subtracted from 100. This gives you the RSI.

The index gives you a constant range, which is between 0 and 100, by an indexing adjustment. Against this range, its overbought and oversold levels are predetermined, whereas, on the Momentum oscillator, you need to decide the range. If the RSI is 50, this is neutral. Technical analysts normally consider the 70 level over bought, and the 30 level oversold, with such extremes or more creating what Wilder called failure swings.

If the RSI has breached 70 or 30 respectively in more than one move, and diverges form the price line, this suggests a future change in the current price trend. This change may not, however, happen yet. Wait for signs of a trend reversal on the price chart before you take action.

Technical analysts who use RSI often calculate it over a 14-day period, as used by Wilder. Sometimes, they use it for shorter periods such as 9 days to give a more sensitive reading. In such cases, or if the share are volatile, the analyst may extend his perimeters to 80-20.

Opinions on the value of the RSI vary. William Eckhard, the partner of legendary trader Richard Dennis, considers the RSI almost worthless. Others are more positive. Investment Research of Cambridge, a former leading firm of technical analysts, have found the RSI useful and has renamed it ROC.

I use RSI in my forex trading, it makes for a great forex indicator, but make sure you fully understand how to use it.

My name is Patrick, I have been trading forex for 10 years and base all my trades using technical indicators, RSI is just one forex indicator that i use on a daily basis.

Forex Trading – How to Use the RSI Indicator

Advanced question about Forex market?

Hi,

You ARE overthinking it. All that arbs do is keep the three markets in relatiave alignment. And they could be active in any or all three.

Make Money from Currency Arbitrage in the Forex Market

Tamarack Valley Energy Reports Year End 2010 Management Discussion and Analysis and Financial Results
CALGARY, ALBERTA–(Marketwire – March 24, 2011) – Tamarack Valley Energy Ltd. (formerly Tango Energy Inc.) (TSX VENTURE:TVE) M
Forex Trading a Gartley Free Tutorials currency trading system

Balancing Risk/Reward on Winners
The “golden rule of trading” is a well-worn maxim in the futures pits of Chicago: Cut your losses short and let your winners run. It is an especially important rule in a world where leverage can either build or destroy wealth very quickly. And yet it is so simple to say, but so hard to follow. We all know that “discipline is the thing,” yet there are very few good ways to learn it other than the …
TRADING FOREX – Discipline is key

How do Forex trading websites make their money if they don’t take commission?

legitimate ways:
spreads

semi legitimate ways:
running stops
bucketing orders

illegal ways:
delayed price quoting
stealing

Forex Systems Course – The Fakey Setup Reversal Bar Entry

Currencies

USD = US Dollar

EUR = Euro

JPY = Japanese Yen

GBP = British Pound

CHF = Swiss Franc

CAD = Canadian Dollar

AUD = Australian Dollar

NZD = New Zealand Dollar

Currency pairs are the foundation of  Forex trading. The foreign exchange market is where the currency of one nation is traded for that of another.  Forex trading is always traded in pairs.  There are six major currency pairs in the forex market:

EUR/USD = “Euro”

USD/JPY = “Dollar Yen”

GBP/USD = “Cable” or “Sterling”

USD/CHF = “Swissy”

USD/CAD = “Dollar Canada” (CAD referred to as the “Loonie”)

AUD/USD = “Aussie Dollar”

NZD/USD = “Kiwi”

By using statistical trading tools that identify the strongest or weakest individual currency against all the other currency, you can choose to trade the strongest currency against the weakest currency. EUR-USD is the most popular and has the highest volume of transactions. Statistics show that  70% of transactions in the forex are placed on EUR/USD.  The marked is driven by InterBanks and Central banks also called market makers.  Personal traders like you and me are “little fish” in the hugh pond of currency trading. If you analyze your trades you immediately know wheather the best trade at that time is indeed the EUR-USD or another pair.

Now that you know which pairs to trade.  The unit or price used in trading is called a pip, The smallest price increment a currency can make. Also known as points.

The standard unit size of a transaction is a lot. One standard lot is equal to 100,000 units of the base currency, 10,000 units if it’s a mini (kind of trading account), or 1,000 units if it’s a micro(kind of trading account). Some dealers offer the ability to trade in any unit size, down to as little as 1 unit.

LeverageFX

800-439-9125

Learn our best Forex Trading System by attending our free 2 week Forex classes. Signup on our home page and learn which currencies to buy/sell and exact and specific places to get into and out of your trades.

Electronic Currency Trading System – Don’t Get Taken|

Hi Members Is forex trading for the day or swing trade because there are few longer term trends?

I have been studying forex trading with some help from the FORUM members and find that currencies (GBP/USD) keep on oscillating in a narrow range. this means yoiu can only swing trade. No posibility of Position trading. Your helpful cpmments please

Let me give you a little advice. There is definetely long term trends in Forex. Take a look at the daily and monthly charts. It is important to know the long term trend before you enter into any short term trades. I teach my clients to use Fibonacci studies on the daily charts to identify key support and resistance levels.

Although a currency pair may range for a number of days what you are really looking for is the point at which you can capture a breakout.

The bulk of my client’s use a Forex hedging tactic as part of a long term investment strategy.

Good luck in your ventures.

EURUSD Swing Trade Forex Trading System – Trading Course

Is there any training centre in Singapore where i can learn about forex trading ?

I recently joined a company which planning to do spot forex trading and i need to know more about it before opening an account. Is there any trainging centre in Singapore, who can teach the basic aspects in forex trading. Friends pl help out………

Think there are some around. But nothing beats hands on. Basically dont be in a hurry. Statistically more people are casualty than victors. So thread very carefully. I suggest, open a demo account and do it for 4 to 6 months. Resist the temptation to go live until you feel you have a “theory of trading” your way. But if you cannot resist, then do a mini account. And even then only after 3 months probation. Download a win/loss utility tracker from my site http://www.geocities.com/lcming/Forexbooks It will tell you your “betting” average over a period of time.

Take a look at my article which has been chosen as best answers 2 times it may help you. Email me if you have more questions please. I hate to see “novice” have a bad start and lose money and keeping sinking money into an endless pit.

anyway here goes :

Take a look at the answer below, it has been chosen as the best answer, maybe it can help you. After 6 yrs of no success, it must be one of 3 things :
1. Psychology of Trading
2. Money Management – position sizing……
3. Technicals

Best Answer – Chosen by Asker

Are you already trading or thinking of going into it ? To trade successfully you need alot of discipline, patience, take the emotions out of it and be analytical.

Like all things some people make money some people dont. If you are, please try a demo first for at least 4 to 6 monts. If you cannot resist the temptations of “paper trade”, to see all the profit you could have made but only on paper, you can start off with a mini account. I use FXCM. There is a demo version of it here http://www.geocities.com/lcming/Forexbooks

Please do live trading even on mini after maybe 3 months of demo and you feel you have a sufficient feel of the market. To start off dont be too ambitious. Just cover maybe 1 major currency and a secondary currency.
After you have a feel then maybe you can get some tools to help you like forex signals. To start off with it would just confuse you. http://www.geocities.com/lcming/Forexsignals

Forex is a very taxing mental game because it never sleeps, its 24/7 so you have to know basically when you want to trade. Dont chase the trading times, pick one that suits you. The market is always there. If not it would be “sleepless seatle”. For a chart of trading times that suits your city you are living in check out http://www.geocities.com/lcming/Forexhome

Forex trading is built on 3 legs, Psychology of trading, Money Management and Technicals of Trading. All 3 must be balanced to be successful. Many people concentrate on the technicals becasue its something they can “touch and feel”. But most times in trading you cannot control most of all the thing that will profit you or bankrupt you ” The Prices”, controlled ultimately by thousands if not millions of people like you and me plus the central bankers, the govt that prints money, and your local provision shop and banker. Good Luck ! May God Bless You !

* Start off with Dr Alexander Elder’s “Trading For a Living” – great book that helps avoid every reinventing of the wheel. At least psychologically

http://www.geocities.com/lcming/ForexForex

Online Investing at Forex Trading Singapore