Forex Trading Made Easy!

Forex Trading Made Easy!

How to trade with pivot point:

Pivot point in my own opinion represent the best and most reliable way to trade this market as it is only when price gets or come close to a pivot line that all professional traders in the world will be looking to take action. In my own opinion pivot point is the best trading style or strategy to trade the foreign exchange market profitably.

So the question of all questions is when to buy and when to sell. My answer is when you see price break through a pivot point going up for example only at that point should you wait for price to go back to the broken pivot point that was recently penetrated. Plus of course the secondary inputs of the other indicators to clarify and support your decision that you were right. Then if the other indicators confirm an upward continuation as in this example, then you will seek to enter as close to the pivot point that was penetrated as possible. Then take your profit by targeting the next pivot point in your calculated points, or you can move your stop loss to the next point to take more profit in the trade as it continues in your favor.

Foreign exchange trading can be very profitable and may mark the end of your 9 to 5 job with little time to spend in front of your computer. This is because if one is to consider the size of the market it will give a well trained and tutored trader the opportunity to make a huge profit, not to talk of the leverage the market gives you. Learn all you can and demo trade, before going live and you will surely quit your 9 to 5 job.

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All About Forex Trading

All About Forex Trading

Forex trading, short for foreign exchange trading, involves the buying and selling of the many currencies of the world. It does not operate via a central exchange site, like traditional stock market trading, and may, thus, fully function a 24-hour basis.

When compared to other exchanges, the trading market is the largest in the world, even beating the New York Stock Exchange (NYSE) by over a hundredfold, in terms of daily trading volume, most of which are conducted by private entities and individuals.

Because of the absence of a central exchange, trading happens between two parties directly. Buyers and sellers communicate and trade via the phone, the Internet or other communications networks worldwide.

In addition, trading forex is also speculative, meaning, they are based on expectations on whether a certain currency would rise or fall, depending on current market conditions. It is risky business, but the returns have often proved themselves worth the risk.

Basic forex trading

Forex trading involves the buying and selling of two currencies at the same time. This combination is often dubbed a cross, because it occurs between two moneys; for instance, the US dollar/Japanese Yen. The highest traded currencies in forex are the US dollar, the euro, the Japanese yen and the UK pound - the "majors".

Trading normally occurs in the spot market, which is the largest because of its volume. Here, trades are made and completed directly and on the spot. You don't have to wait too long to settle.

Advantages of forex trading

1. No 4pm trade closing time.

When you're trading forex, you have 24-hours to do so from Sunday night to Friday night. This opportunity allows you to retract your moves and react immediately when a currency suddenly goes up or down. Breaking news are vital to trading.

2. Very liquid.

It is easy to convert your trades to cash in the market, especially if yours involves one of the majors. The high liquidity helps ensure that spreads are narrow and prices are stable throughout the period.

3. Strong potential for profits

This is particularly true with falling currencies. Because trading involves two currencies, when one rises, the other naturally falls. When a currency depreciates, it could be the perfect time to buy into it so that you can sell it for a hefty profit when it's its turn to appreciate.

4. The higher the currency's liquidity level, the cheaper it is to trade it.

This is why most forex trading patrons opt to trade majors, because they have the highest liquidity. In addition, trading is also more attractive to some money movers because of the absence of a commission. Thus, currencies are actually traded for their real merits and not because they come with misleading incentives.

There's a lot more to learn about trading and the above merely scratches the surface. To be able to further understand what forex trading is and how it can help you grow your coffers, it is advised that you speak to an expert who more likely has all the answers to your questions. Or, yet, ask somebody who's already had experience with forex trading.

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How To Open A Foreign Currency Account

How To Open A Foreign Currency Account

A foreign currency account is extremely effective in shielding an individual from risks associated with fluctuations in foreign currency. Such accounts are extremely helpful for those engaged in the business of export and import, as they deal most with foreign. People involved in such businesses must open their foreign currencies account in the currency in which they make most of their transactions. By doing, this they can hedge themselves against fluctuations in exchange rates. They can continue to hold the money in their respective accounts until the arrival of a beneficial rate.

Thus, such accounts enable good financial management for he businessmen. They can manage all receipts and payments received from various transactions through these accounts while trading internationally. They save money, as they don’t have to pay the conversion costs.

Open Your Foreign Currency Account:

Management of a foreign currency account is similar to managing a standard current account. There are several banks offering foreign currency accounts, however, their eligibility criteria and processing charges differ. Opening foreign currency accounts with banks is subject to various procedures of a usual diligence.

Types of Foreign Currency Accounts:

Foreign currency accounts can be broadly categorized into two Customer Foreign Currency (CFC) Accounts and Foreign Currency Accounts (FCA) for Individuals. Both of them eliminate the necessity of conversion upon receiving money from overseas. Both the types can be used to meet short-term requirement for cash. The interest on credit through such accounts is calculated on a daily basis on the balance amount, except for the company accounts. The basic rate of tax is generally automatically deducted from the interest paid.

You can opt for a foreign currency account that offers you the facility of making payments through check. However, while using such a facility you must be aware of the fact that the person who receives the payment will have o bear high local banking charges. Today, most banks provide foreign currency accounts to individuals and companies, but opening such accounts with large banks is preferable.

Things to Remember:

Several factors need to be considered before using FOREX trading method. If you are a beginner, you may choose a broker to help you with such trades in the beginning. There are various accounts ranging from small to big. The smallest account is known as a mini account and ca be opened with only $300. The standard foreign currency trading, however, requires minimum $2,000 of initial capital to begin trading. It is the standard account that gives the users flexibility to trade with several leverages.
Besides these, there are premium accounts that need $5,000 to $10,000. It functions as that of a standard account but offers many additional services.

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Avoid Most Forex Trading Robots

Avoid Most Forex Trading Robots

I have seen most of the online Forex trading robot systems. They all claim they have huge profits. Most of their track records have only been simulated their predictions in hindsight have never been traded only simulated.

If your like most people we need actual facts on a trade and we need them to be strong and secure in order for us to even think about working with a Forex robot.

No one wants to lose their equity into something that could be dangerous if used. So why are there so many trading robots in the market place? The answer is pure and simple, they are there only for the sale and some don't even test them out in the real exchange.

If your in the market for a Forex robot be very careful on which one you buy. Go to the website see if they have made trades personally. Make sure all the t's are crossed. By all means make sure they have money back guarantees on the products. When I buy and test out any Forex robot, I make sure they have at the very least thirty to fifty days money back guarantee if i am not satisfied with system.

I will leave you with this, in all your money making ways you have a gut instinct for everything you come across. Follow that instinct, if it says yes, wait a day to really feel it. If it says no, back off immediately and continue on your way.

Most success is made from the gut instinct.

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10 Mistakes Which Will Slash Your Profits

Forex Trading For Beginners - 10 Mistakes Which Will Slash Your Profits

Forex trading for beginners is straightforward if you have the right mindset and get the right forex education however, you must avoid the mistakes enclosed which will slash or even worse wipe out your equity...

Here are the 10 most common mistakes in no particular order of importance - there all important.

1. Don't Day Trade or Scalp

All short term volatility is random, you can't measure what millions of traders will do in a few hours so don't try.

2. Avoid Most Forex Robots

I see these forex trading systems all the time and they all claim great profits but the track records are all simulated in hindsight and have never been traded.

If you trade one of these you can kiss goodbye to your equity.

3. Don't Predict

If you predict you are simply hoping and guessing and that won't get you far in currency trading or life - trade confirmation and the reality of change and don't guess.

4. Markets do Not Move to Science

Many people claim they do and follow the methods of Gann, Elliot and Fibonacci but they don't work.

If markets moved to a scientific theory, we would all know the price in advance and there would be no market - common sense yet, many traders fall for this ridiculous idea, don't join them.

5. The harder you Work the More You Make

In a normal job yes, in forex markets no.

You get paid for being right with your forex trading signal and that can take you ten minutes or ten hours - you earn your rewards for results.

Work smart not hard.

6. Following expert Opinion and News Stories

The markets are a discounting mechanism and news is discounted instantly, it also reflects the greed and fear of the crowd who lose. Will Rogers once said:

"I only believe what I read in the papers"

He was joking of course - but it's surprising how many people follow the news and try and trade it - don't do it!

If you do, you will end up losing.

Markets move on trader's view of news and their emotions. The facts are unimportant its how they are perceived that determines the course of events.

7. Using a complicated method

10 indicators are better than 2 - dead wrong.

A complicated forex trading strategy , will not as a general rule beat a simple one as it has to many elements to break.

Simple systems have and always work best, as they are more robust.

8. Making Money in Demo Account Means You Will Make Money for Real

No, a demo account helps you learn how to trade not to make money and you need to understand this:

There is no pressure on you and therefore it's not a real trading experience.

9. Not Being Patient

Many traders think the more they trade the more they will make - wrong. You get paid as we said earlier on for being right and that means waiting for the high odds trades.

I know traders who trade around 10 times a year and make 200% or more.

If you want fun and excitement do something else. If you want to make money, being patient is a key element to learn in your forex education.

10. Snatching Profits to Soon

When you first start trading, you will be tempted to snatch profits - but look at a forex chart - the big trends last for months weeks and years.

if you have the courage to hold them and take short term equity swings against you, you will be well rewarded when the trade is finally closed with a thumping profit.

Traders have more problems holding profits than they do cutting losses, don't make this mistake.

Now here is the major problem that causes most losers to lose - I will ask you the question:

What's your trading edge defined? i.e. why will you win, when the vast majority 95% of traders lose?

What's Your Edge?

Don't know what your trading edge is?

You don't have one and will lose and it's back to your forex education until you do.

We hope you found our forex trading for beginners of use and that you will avoid them in your forex trading strategy and enjoy currency trading success.

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Forex Raptor Review - Is It A Scam Or Does It Really Work?

Forex Raptor Review - Is It A Scam Or Does It Really Work?

Forex Raptor is latest Automated Forex Trading Software. The key to these kind of softwares is that it makes the process of Forex Trading Automated.This essentially means that a piece of software will do the work of identifying trades and placing them for you.

No doubt these kind of softwares make the process of trading very easy and have a lot of advantage, but before purchasing it, you must put some thought on below mentioned points -

1. What is requirement of Software like Forex Raptor?

What kind of computer resources does it need? Are they easy to install? Do they need any mandatory components already present on machine? If so, how and where can you get it.

In my use of Forex Raptor, I found that it is a simple software which doesn't require any additional components. Installing it itself doesn't take more than 2 minutes of time.

2. What kind of results does the Forex Trading software give?

Does it place the trades for you in real time? This means that if the trade set up meets the criteria, How much time does the software like Forex Raptor take to place the trade. Ideally it should be less than 2 seconds.

3. What is the ease of use? Are there any limitations?

This is a crucial aspect. If the software is very complex to use, I am sure the user will find some trades to be missed. Before purchasing one must find out if the forex trading software is easy to understand and use.

Also, you must check if their are any limitations associated with it, like if the software works with all the currency pairs, all time zones etc.

Forex Raptor, in my review is very easy to understand and use. Even a beginner can use it. Though I still would recommend you to have some basic knowledge of Forex Trading.

4. This is most crucial - Decide if use of Automated Forex Trading Software like Forex Raptor meets your trading style. Do you like monitoring the chart everyday yourself or would you like to use a software for trading Forex? This is a question you must think about before you spend your money in purchasing. If you like to free up your time from monitoring charts, definitely use a Automated Forex Trading Software.

Now a days these kind of softwares are not expensive. Forex Raptor is also in the same price range as other softwares.

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Benefits of Day Trading

Benefits of Day Trading

Day trading has survived the market because it has proven itself to be lucrative and appealing to people who want to engage in another type of business. Here are some of its benefits:

Income

There is money in trading, this is the very reason why many people quit their jobs and focus their resources on this business. However, not everyone can make money all the time. There are winning streaks and losing streaks in this business and sometimes losing is inevitable. However, we can't discount the fact that there are big time turnovers when all the necessary attributes of day trading are met.

On the average, daily income could go anywhere from $100 to $1000. But those who are more skillful and have a lot more experiences in this business are more likely to have higher income than novices.

It must be noted though that there are several expenses that a trader should attend to like commissions and additional payments for the brokers.

Freedom from office work

This trade gives a person the chance to be free from dull office work, work politics and demanding bosses since a trader works like a freelancer. Plus it also gives the flexibility of time. A day trader could choose the schedule of work. He could choose to start trading at the beginning of the day or during off hours. However, he must also understand that he will answer to all his decisions. If he did not trade today, it means that he has no income. But doing what you want to do in your own time is often a good price to pay.

No Overnight Risk

As compared with trades in the stock market, trading offers no overnight risks which means that there is no likelihood that the events and news which happened overnight will affect your portfolio. It is good to remember that this trade is basically squaring all transactions at the day's end. This means that no one holds any positions after all the trades are closed.

Immediate feedback

It is a fast-paced business- you automatically know whether you earn or lose with your current trade giving you enough time to make up some solutions whenever needed.

Control of decisions

The traders are their own brokers, they decide on when to enter a trade or exit it, they assess the trends, and they make their decisions on whether to buy a trade or sell it. In short, no one tells them what to do and no one comments on whether they have committed a wrong decision or not. This structure is very advantageous for people who prefer working alone and without people to tell them what to do and how to do it.

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Day Trading Stocks

Day Trading Stocks

When it comes to day trading stocks there is a mixed notion amongst the investors as well as common people who are contemplating of getting into stock trading. Day trading is basically a type of short term trading that is completed within a day’s time. That means you have a few hours to buy and sell the stocks and hence day trading stocks are essentially considered to be the forte of the experienced stock market investors. As you get only a few hours to make up for the loss, if there is any, the risk factor of day trading is higher than conventional long term share trading. But as there is more risk involved you always get more profit from day trading if you consider the time span of the investment that you make for buying the stocks. S0, the bottom line is there are pros and cons of day trading and here we are trying to focus on some of them.

Positives of day trading –

• Day trading gives you the freedom of working on your terms. You Cando by yourself the trading online and get the result on that very day. There is no waiting and long-term risk factor involved.
• As you get back the money each day after the market is closed you can always start fresh the next morning. So, with day trading you can try wide range of stocks and benefit from definite and short time gains and tips that too with significantly little money in your account.
• Stock trading companies offer the day trading facilities in significantly lower brokerage rate. Especially online stock brokers charge really little brokerage for buying and selling stocks online. So, while dealing in day trading stocks you can make more profit if compared to long term trading where the brokerage rate is relatively higher.
• Moreover, with lower brokerage you have fewer burdens and can take quick decisions after the stock is moved upward, while in long term trading you have to wait to sell the stock until it gets you profit after meeting the higher brokerage.
• While doing day trading you can always make profit from stocks that are not so promising but showing steady progress however small amount it is. While in case of long term trading you cannot really depend on such stocks that do not have long term potential.

Like any good thing in life day trading also comes with some negatives and here are some of them along with some effective solutions to these problems.

Day trading gives you only a few hours to make the corrections. Simply because the lifespan of the day trading is shorter, you run the risk of losing on a certain stock that falls after you have bought them. The situation worsens if there is no sign of betterment even at the end o the day. But you can even make up for the loss by buying the same stock in lower price on long term basis and waiting for the stock to regain. It’s simply buying time for your investment.

Sudden news can affect the stock market that have a deeper impact on the day trading as you cannot wait for the market to get better. Then this is true for any form of stock market trading and it is not a typical problem for the day trading. To avoid such situations you need to have comprehensive knowledge of the industry and keep regular watch on the stock market.

3 Simple Breakout Strategies You Can Use When Trading Forex

3 Simple Breakout Strategies You Can Use When Trading Forex

Trading breakouts is one of the most popular methods of trading the forex markets because you often get large moves after a period of consolidation. So with that in mind, I've listed below three basic strategies you can use to trade these breakouts.

The first of which is based on technical analysis, and in particular the Bollinger Bands indicator. Bollinger Bands are envelopes based on a moving average and a standard deviation and are most useful in showing areas of support and resistance through the two outer lines of the envelope.

Therefore when the price breaks out of either the upper or lower limit, this very often is a strong indication that a breakout is about to take place in the same direction. It's particularly the case after a period of consolidation where the bandwidth of the Bollinger Bands has narrowed out. For greater success you can use the breaching of one of the outer lines to gain your attention, and then wait for a pullback to either the EMA (5) or EMA (20), for example, for a good entry point.

The second method you can use to trade breakouts is also based on technical analysis and involves various Exponential Moving Averages, or EMA's for short. This is a method I have developed over the years that makes use of the 5, 20 and 50 period EMA's (you can also use the 100 or 200 period EMA as well).

What you do is wait until the price, along with the 5, 20 and 50 period EMA's have all flattened out and are all very close to each other. Then you simply wait for a strong breakout from this narrow range and take a position close to the EMA (5) when the breakout takes place. This can be very rewarding when you catch a good breakout, particular when you use longer time frames.

The final method is based entirely on price and uses no technical indicators at all. It's based on the fact that the price does not stay in the same range forever and will at some point break out of the current trading range.

I have to admit I don't use this method myself but there are various ways you can trade this way. Some traders like to use the previous day's upper and lower price range, and trade any breakouts of this range the following day. Similarly some traders wait until a very narrow price range has formed and then wait for a breakout to occur.

So overall there are various different ways you can trade breakouts, all of which have their merits. Despite being quite basic methods, they can be extremely lucrative because the price often moves strongly in one direction or the other after a sustained period of consolidation.

For years now we have been using our successful strategy to place trades day in and day out. We have mastered a system that scalps the market whenever there is any price movement, and its 100% programmed and ready to begin trading for you. It’s true…. The IvyBot is one of the most revolutionary automatic robots to hit the market.