Forex Trading Tips

stream73834 asked:

forextrading.bestreviewed.Net You can get software to do automatic forex analysis for you and then make automatic trades for you, as well. The program is programmed by forex experts who know how to recognize forex trends. This allows the program to do it for you. It is called FAP Turbo and it has been working incredibly well for me over the past few months. As I say in the video, it nearly doubled my money in about 2 and a half months. (from 2200 to 4000 dollars). You should really check it out for yourself to see what its all about - just click the link at the top of the description to go to the FAP Turbo website. Hope you like it as much as I do! Take care!

none g asked:


i know that the less pip spreads a forex broker offers the better. but why? how do they make money by offering more or less pip spreads?
thanks in advance.

man asked:


every body put money in Swiss bank than switerland must have wast reserve why the world don’t use its currency for trading instead of USD .

bboyballer112 asked:


Can you enter the FOREX trade with little money? I want to invest. But I am sincerely lost and do not know where or how to start…
Which is easier Stocks or FOREX….In any event how do I get my feet wet!!!

leveragefx asked:

This video will show you the best Forex Trading indicator ever invented. While it does 50+ million calculations, its so simple to use and make money with. Signup at our website for 5 Day Free Training class to see how this and a dozen+ other trading systems work.

glaserg4 asked:


I’m considering getting into the Forex market soon and am starting to do some homework. If someone could just lay out how things work and how you actually make (or lose) money, that would be nice. Also, what exactly is a pip and a lot? Thanks in advance.

When Pigs Fly asked:


This is just an off-the-wall legal question. What if I had an ancient Roman coin from 2000 years ago (that was legal tender under an extinct government), and brought it to a bank that translates one currency to another? Would there be some technical legal obligation for them to convert it to it’s modern American equivalent? Of course I could make a lot more money if I sold it, but *what if* I decided that I wanted to trade it in for US money?

The old battlefields of the middle ages are not gone, they have merely changed form. Hundreds of years ago normal men would set out to build their empires by conquering lands through the force of arms. Today, normal men like you and i set out to build our financial empires by conquering markets throught the force of self. The blood soaked battlefields of yesterday have made way for the cash soaked commercial battlefields of today, with the large private armies of Family warlords making way for large pools of  family capital. Just as armies were needed to shape empires of the past, so too is capital needed today in order to put modern commercial plans of conquest into action.

In there, lies the reason as to why many forex traders fail. They go into battle risking too many soldiers (capital) and without the knowledge of tactics needed to win the fight.

Lets look at that again. 1. They risk too much capital, 2. They do not understand Forex markets.

Many traders both successful and miserable have made these mistakes, the main reason for me writing this article is so you can learn this lesson here and do not have to make this mistake and lose money, or at the very least be cautious enough to minimise your losses.

No general will risk a majority of his men in a battle that he has no plan for and where he has no idea about his enemy. So my question to you is, why would you risk your capital in market conditions you know nothing about? Luckily two remedies exist for the forex general who finds himself in this situation.

1. Make it a rule to only risk 1% of your capital in any one trade. This is to minimise your losses.

2. Educate yourself so you can recognise your chance to strike but also recognise when it is neccessary to withdraw. Learn to read the conditions of the forex battlefield. Great generals of the past would spend years learning battlefield tactics, luckily we can achieve this in a couple of months.

So in summary only risk 1% of your capital in any trade, and educate yourself about how forex markets work.



By: Forex King

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Eric F asked:


Hey,

Are there people in the world who day trade forex for a living? I’ve read so many articles bashing day trading as gambling and impossible to make money, but I also read some forex trader interview who just trade a few hours a day and make a good living. Is it true?
Anyone has experience?

It wasn’t easy but we did it, $1k to $100k on both demo and live accounts. Let’s take a moment to celebrate and then get down to business. There, was that long enough? Ok.

Why did some people make it and other give up or just painfully failed? I have narrowed it down to several reasons. Hopefully you will be able to take these lessons away from this article and impliment them into your own trading.

1. Trading more then 1% a trade.

Seems a little weird that the people who eventually made the $100k only risked a max of 1% of their capital in any given trade? Well thats what everyone who made it did. Trading this amount of capital keeps you in the game if you eventually run into a losing streak on the market. This is a vital piece of information to remember. Even though your profits will be lower then a person who risks, say, 10% a trade, your long term ability to stay in the game is far greater then the 10% trader.

2. Trading more then 3 major currency pairs at a time.

There is no way getting around it, Forex can sometimes be a risky and volitile market. Information saturates the internet about every major currency pair. Keeping track of more then 3 currency pairs will often leave the trader in paralysis of analysis. Personally i only trade 2 majors and keep up to date on those. Being a master of 2 currency pairs is far better then being a jack of all pairs and a master of none.

3. Being lazy and not constantly learning.

People change, and markets based on people change with them. Forex changes all the time, what is a favoured currency, what isn’t favoured can change week to week. My point here is not to only trade the news, my point is that the people who succceeded in making the $100k were always shaprpening their skills. This market can make you filthy rich so why wouldnt you spend the time learning all you can about it? I can never understand new traders who read a few books on Forex and think that their learning is finished. If you want to make money off Forex remember this, the cost of trading forex is Capital and Learning.

4. Only focusing on one time frame.

Last but not least here is something we probably all did as new traders. But the sooner you kick this habit the better off you will be. Let me give you an example. If a daily chart is showing an upward trend reversal, but on a 1 minute chart it is showing a strong start to an upward trend, if you are only focusing on the 1 minute chart you are going to lose a lot of chedder. My point here is simple, keep an eye on the overall picture at all times. Use 2 -3 different time period charts for a big picture and then use 1 to make your trading decision.

Remember the Forex market does not play favorites. Learn to trade smarter and the profits will follow.



By: Forex King

About the Author: