Dec
Forex? What is It, Anyway?
The market
The currency trading (FOREX) market is the biggest and the fastest growing market on earth. Its daily turnover is more than 2.5 trillion dollars, which is 100 times greater than the NASDAQ daily turnover.
Markets are places to trade goods. The same goes with FOREX. The Forex goods (or merchandise) are the currencies of various countries. You buy Euro, paying with US dollars, or you sell Japanese Yens for Canadian dollars. That’s all.
How does one profit in Forex?
Very simple and obvious: buy cheap and sell for more! The profit is generated from the fluctuations (changes) in the currency exchange market.
The nice thing about the FOREX market, is that regular daily fluctuations, say – around 1%, are multiplied by 100! (in general, Easy-Forex offers trading ratios from 1:50 to 1:200). If, for example, the exchange rate of “your” pair of currencies increased by 0.6% in the last 4 hours, your profit will be 60% on your investment! Such can happen in one business day, or in a few hours, even minutes.
Moreover, you cannot lose more than your “margin”! You may profit unlimited amounts, but you never lose more than what you initially risked and invested.
You can implement your choice (the pair of currencies, the volume amount) under any direction to which the market is moving, and yet make profit. It does not matter whether the exchange rate is going up or down: you can always decide to buy Euro and sell dollar, or vice versa – buy dollar and sell Euro. You don’t have to physically possess certain currencies in order to perform “buy” or “sell” with them.
How do I start?
Register (Easy-Forex offers the simplest and quickest registration process, no obligation); deposit your first trading “margin” amount (credit cards are welcome, only by Easy-Forex); start trading.
It can’t be simpler or easier than that. Need help? We’ll provide you with 1-on-1 training and service, as much as necessary (Easy-Forex offers real people service, live, in your own language).
How do I trade Forex?
You select the pair of currencies with which you wish to make a Forex deal. You determine the volume (the amount of the deal). You deposit the “margin” (collateral needed to facilitate the deal. Usually – only a very small portion of the whole deal, say: 1% or 1:100).
Before you finally activate the deal, you can still “freeze” it for a few seconds. That enables you to either change the terms, or accept it as is, or altogether regret the whole idea. The “freeze” feature is a unique service by Easy-Forex.
When your Forex deal is running (you hold an “open position”), you can monitor its status and check scenarios online, whenever you wish. You may change some terms in the deal, or close it (and cash the profit, if any, or minimize the loss, if any). Moreover, Easy-Forex lets you determine a “take-profit” rate, with which the deal will close automatically for you, when and if such rate occurs in the market. Meaning: you do not have to stay near your computer when you hold open positions
How do you trade the forex market without indicators?
December 31st, 2008 at 4:52 amIs there anyway to trade the forex market without any indicators. I have used all indicators, and they have brought my total disappointment, even with money management.Please help!
Go short on the US dollar until the war is over. Then buy because the dollar will come back.
Oh crap is that an indicator?
December 31st, 2008 at 9:54 amReferences :
Licensed Forex Trader
The problem with indicators is that they look good on paper but a blind backtest shows that they are just as much of a crapshoot as anything else. You need to spot a trend, get on it, and know when to get off.
Research the Guppy Multiple Moving Average. Just google it. This is the best trend analysis tool I have ever come across. Revolutionized my trading.
December 31st, 2008 at 9:56 amReferences :
Hi,
I use personally long term signals. The result in my profit account is smashing.
I recommend you http://www.forex-signals-4u.com to get long term signals.
Hope the above helped.
December 31st, 2008 at 9:58 amReferences :
http://www.forex-signals-4u.com
The most important indicator in Forex is the price. Specially if you're trading on the short term.
December 31st, 2008 at 10:00 amOn the long term fundamentals take an important role. So if you don't want to use indicators, you don't have to use them.
Money management is the most important part of trading. Even if you consider yourself good at money management, remember you can always get better.
References :