The first lesson when an individual decides to pursue Forex Trading
is – To understand the way Forex Market functions; what makes the market
tick, what triggers the moves, and are the things most likely to
changes market’s course, what are trading decisions based on, and so on.
Trading can happen in many ways, and each trader according to his
basic style of thinking, and working temperament will adopt a specific
trading method. We all start at the same place (learning the basics and
getting acquainted with various trading concepts like we are doing right
now) but as time passes and exposure increases, the trader begins to
understand trading, as well as himself under different circumstances
more clearly; as an outcome of this some traders will go on to establish
themselves as long term investors, some will be short term speculators;
some will be swing trading experts and so on. From there onwards they will go on to the next phase and take the advanced journey.
In second phase where trader will try and learn as much about his own
style of trading, in third phase they are bound to feel more in control
because of all the information and will learn to combine various
trading styles to their advantage.
So what is it that traders are exactly expected to learn to become
successful trading professionals? What are the concepts they have to get
acquainted with which will help them to stay in business long term and
make money
in it? Well, they have to learn everything that they can about
following things; online Forex trading; types of orders; spot and
forward trading; types of charts; technical indicators; its basics; economic indicators; candlestick
analyses and so on. When trader learns about all these and how to
combine and use them in different ways will he be considered on his way
to becoming a race horse.
Let us first understand everything about Online Forex Trading.
Until a few years ago Forex trading was only allowed to be carried
out by financial institutions and banks; however with the advent of
internet technology, things changed forever for everyone 360 degrees,
Forex being no exception. Now with internet access, Forex is a 24 hour
market and can be accessed and traded by any individual who wishes to do
it across the globe post completing certain formalities like opening an
account and depositing margin money, getting acquainted with rules of the broker and market policies etc.
Currency trading always happens in pairs; where one currency is
bought and the other is sold and this buying and selling happens
simultaneously. The main motive behind doing this is when trader is
buying one currency and selling the other it is based on the assumption
that market environment will change and it will lead to rise in price of
the currency trader has bought as compared to the other one that the
trader has sold.
In the pair the first currency is called the base currency and the
subsequent currency is called the quote currency. Quote currency is
expressed in one unit. For example in EURUSD currency pair EUR is the base and USD is the quote price.
Then the next thing is to understand `bid price’ and `ask price’. Bid
price is the price at which buyer is willing to buy the base currency
in the open market in exchange of quote currency; and ask price is the
price at which the holder of base currency is willing to sell it and
buyer is ready to buy at that price in exchange of the quote currency.
The difference between `ask price’ and `bid price’ is called the spread;
spread is another common term that will frequently in use while trading
Forex.
In this post we have learnt the basics of online Forex market, what
goes into Forex trading; and aspects traders need to get acquainted with
to trade long term and successfully. Plus what are bid and ask prices.
In next lesson we will learn about Fundamental and Technical Analyses,
& psychology of trading.
Monday, August 18, 2014
Saturday, August 16, 2014
What Is Forex and how to make serious money with it
Forex is the knowledge and art of trading different currencies and making profit through it. You know that each country has its own currency, and the currency of
different countries can be bought and sold against each other. Forex traders are those people who make money through buying and selling different currencies against
each other. Forex is not a new business and its history is as old as the history of money.
What is forex is a question that people ask a lot these days. There are people who have been making money through Forex from many years ago. Fortunately, with the
help of computer and internet, Forex trading has become much easier. You can sit at your personal computer and trade from home without having to make any phone
call or referring to any bank.
How Is It Possible?
There are brokerage companies that enable you to buy and sell different currencies through the Internet and some simple softwares that are called trading platforms.
For any trade that you make, you pay a small commission to the brokerage company that you are trading through.
You need to find a good, reliable and well-known brokerage company and sign up for an account with it. Then you have to fund your account. You use the money you
have in your account to trade. Any profit that you make, will be added to your account and visa versa. Then you can withdraw the money you have made.
What Currencies Can You Trade?
In Forex, you deal with currency pairs . There are four major currency pairs: British Pound and USD ( GBP/USD ), Euro and USD (EUR/USD ), USD and Japanese Yen
(USD/JPY ), USD and Swiss Frank ( USD/CHF ).
In each currency pair, the first currency works as commodity and the second one works as money. For example when you choose GBP/USD to trade, if you buy, you
buy British Pound against USD and, if you sell, you sell British Pound against USD. It doesn’t matter what currency you have in your account. The trading software
and the brokerage system take care of the exchanges and transactions automatically.
How Can You Make Money through Forex Trading?
Buying low and selling high or selling high and buying low is the base of making money in Forex. For example If you buy GBP against USD when each GBP is equal to
$1.9554USD and then sell it when it is $2.0235USD, you have made a profit. I don’t want to focus on more details in this article and explain how the profits and the
money you make are calculated. I will talk about these topics in other articles. In this article we explain about the nature of forex trading in general.
The big question is that how can you find out the best time to buy and how can you predict that if you buy, the price will go up and you will make a profit?
That is a million dollar question.
There are two methods to know the optimum time to buy and sell: Technical Analysis and Fundamental Analysis.
Technical Analysis:
In technical analysis, the direction of the price can be predicted using the the price chart analysis and also with the help of some special tools that are called
Indicators.
Technical analysis might look a little complicated at the beginning. But it is much easier than what you think.
Technical Analysis is a science and art, and if you want to make money through Forex trading, you have to learn the technical analysis properly
It is not too hard to learn the technical analysis. If you are a focused and a serious person, you can learn it within a few months. There are a lot of free resources over
the web that you can use to learn. There are some expensive training courses, but those who sign up for them are not happy and believe that they learned nothing. So
don’t waste your money. If you are serious to learn, there are a lot of free resources over the Internet. You can also visit our website every now and then, or subscribe
for our newsletter and receive our most recent articles automatically (you can subscribe at the end of this article.) You can learn technical analysis by referring to our
website. We will do our best to cover all of the topics of technical and fundamental analysis on this site.
For now, to have a clue about the technical analysis, you can take a look at these articles:
+ Symmetrical Triangles Breakout in Forex Trading
+ Japanese Candlestick Charting Techniques and Patterns
+ EURUSD Daily and Weekly Chart Analysis – EUR/USD Buy-Sell Signals
+ EURUSD Market Analysis and Direction in Long Term
Fundamental Analysis:
Fundamental Analysis is used to predict the future movements of currencies’ prices, according to the economic and even political situation of the world, and important
and developed countries like USA, UK, Germany, Japan and….
Fundamental analysis has a long term usage, but good traders can predict the sudden changes that happen after releasing an important news about the economic
situation of an important country. For example when the news says that the economic situation of USA is improved for 5% in comparison to the last month, USD will
become stronger and people start buying it. So the value of USD will go up because of the sudden demand increase. If you know the effect of the news on the price,
you can take a proper position and make money. Of course there are two sides in this story which means if you take the wrong position, you will lose money.
See how I used a special news which is called “Non-Farm Employment Change” to predict the direction of Euro against USD some time ago:
Non-Farm Employment Change and Its Impact on the Forex Market
Experienced and professional traders take the advantage of both technical and fundamental analysis. However, most traders are dependent on the technical
analysis. Technical analysis is able to predict the price direction and movements.
Some Good Things About Forex:
1- Forex is an online home based business that doesn’t need marketing, recruiting and advertising. You only deal with the currencies through the Internet. So you will
not have to reply any email, make any phone call and spend any money on advertising, or deal with the customers, clients, affiliates, subscribers and referrals. You do
not have to ship anything to any buyer. You do not have to be worried about competition in your Forex business, because in this business you do not compete with
anybody.
2- If you learn Forex trading properly, you can make a lot of money. Forex can be your full time job that makes thousands of dollars every month. I have to emphasize
again that if you start working on Forex before you learn it properly, it can be risky and you can lose your money. It is like driving. If you drive a car, before you learn
to drive properly, you will hurt yourself and others, but if you learn it properly first, driving will be pleasant and funny.
3- You can make a lot of money by spending a small amount of money. Unlike other investments like stock market that you have to invest a lot of money to make a
reasonable profit, you can make a good income through investing small amount of money. It means you do not have to have a big account. You can start with a small
account, grow it and have a reasonable account after a while.
I guess now you know what Forex is all about. In this article, I tried to give you some general information about Forex trading. If you are looking for a business to
make money full time or part time, Forex is the best option. And if you are serious to choose Forex, you have to start learning it. This website is new, but I am not new
to Forex trading. I am an experienced, professional and full time Forex trader. I created this website to share my experiences and knowledge with those who want to
learn Forex. There are so many scams over the Internet that you have to be careful about. I will do my best to make this website as complete as possible for those
who want to learn Forex. You can subscribe using the below form and check back every now and then and read my articles.
Good Luck!
different countries can be bought and sold against each other. Forex traders are those people who make money through buying and selling different currencies against
each other. Forex is not a new business and its history is as old as the history of money.
What is forex is a question that people ask a lot these days. There are people who have been making money through Forex from many years ago. Fortunately, with the
help of computer and internet, Forex trading has become much easier. You can sit at your personal computer and trade from home without having to make any phone
call or referring to any bank.
How Is It Possible?
There are brokerage companies that enable you to buy and sell different currencies through the Internet and some simple softwares that are called trading platforms.
For any trade that you make, you pay a small commission to the brokerage company that you are trading through.
You need to find a good, reliable and well-known brokerage company and sign up for an account with it. Then you have to fund your account. You use the money you
have in your account to trade. Any profit that you make, will be added to your account and visa versa. Then you can withdraw the money you have made.
What Currencies Can You Trade?
In Forex, you deal with currency pairs . There are four major currency pairs: British Pound and USD ( GBP/USD ), Euro and USD (EUR/USD ), USD and Japanese Yen
(USD/JPY ), USD and Swiss Frank ( USD/CHF ).
In each currency pair, the first currency works as commodity and the second one works as money. For example when you choose GBP/USD to trade, if you buy, you
buy British Pound against USD and, if you sell, you sell British Pound against USD. It doesn’t matter what currency you have in your account. The trading software
and the brokerage system take care of the exchanges and transactions automatically.
How Can You Make Money through Forex Trading?
Buying low and selling high or selling high and buying low is the base of making money in Forex. For example If you buy GBP against USD when each GBP is equal to
$1.9554USD and then sell it when it is $2.0235USD, you have made a profit. I don’t want to focus on more details in this article and explain how the profits and the
money you make are calculated. I will talk about these topics in other articles. In this article we explain about the nature of forex trading in general.
The big question is that how can you find out the best time to buy and how can you predict that if you buy, the price will go up and you will make a profit?
That is a million dollar question.
There are two methods to know the optimum time to buy and sell: Technical Analysis and Fundamental Analysis.
Technical Analysis:
In technical analysis, the direction of the price can be predicted using the the price chart analysis and also with the help of some special tools that are called
Indicators.
Technical analysis might look a little complicated at the beginning. But it is much easier than what you think.
Technical Analysis is a science and art, and if you want to make money through Forex trading, you have to learn the technical analysis properly
It is not too hard to learn the technical analysis. If you are a focused and a serious person, you can learn it within a few months. There are a lot of free resources over
the web that you can use to learn. There are some expensive training courses, but those who sign up for them are not happy and believe that they learned nothing. So
don’t waste your money. If you are serious to learn, there are a lot of free resources over the Internet. You can also visit our website every now and then, or subscribe
for our newsletter and receive our most recent articles automatically (you can subscribe at the end of this article.) You can learn technical analysis by referring to our
website. We will do our best to cover all of the topics of technical and fundamental analysis on this site.
For now, to have a clue about the technical analysis, you can take a look at these articles:
+ Symmetrical Triangles Breakout in Forex Trading
+ Japanese Candlestick Charting Techniques and Patterns
+ EURUSD Daily and Weekly Chart Analysis – EUR/USD Buy-Sell Signals
+ EURUSD Market Analysis and Direction in Long Term
Fundamental Analysis:
Fundamental Analysis is used to predict the future movements of currencies’ prices, according to the economic and even political situation of the world, and important
and developed countries like USA, UK, Germany, Japan and….
Fundamental analysis has a long term usage, but good traders can predict the sudden changes that happen after releasing an important news about the economic
situation of an important country. For example when the news says that the economic situation of USA is improved for 5% in comparison to the last month, USD will
become stronger and people start buying it. So the value of USD will go up because of the sudden demand increase. If you know the effect of the news on the price,
you can take a proper position and make money. Of course there are two sides in this story which means if you take the wrong position, you will lose money.
See how I used a special news which is called “Non-Farm Employment Change” to predict the direction of Euro against USD some time ago:
Non-Farm Employment Change and Its Impact on the Forex Market
Experienced and professional traders take the advantage of both technical and fundamental analysis. However, most traders are dependent on the technical
analysis. Technical analysis is able to predict the price direction and movements.
Some Good Things About Forex:
1- Forex is an online home based business that doesn’t need marketing, recruiting and advertising. You only deal with the currencies through the Internet. So you will
not have to reply any email, make any phone call and spend any money on advertising, or deal with the customers, clients, affiliates, subscribers and referrals. You do
not have to ship anything to any buyer. You do not have to be worried about competition in your Forex business, because in this business you do not compete with
anybody.
2- If you learn Forex trading properly, you can make a lot of money. Forex can be your full time job that makes thousands of dollars every month. I have to emphasize
again that if you start working on Forex before you learn it properly, it can be risky and you can lose your money. It is like driving. If you drive a car, before you learn
to drive properly, you will hurt yourself and others, but if you learn it properly first, driving will be pleasant and funny.
3- You can make a lot of money by spending a small amount of money. Unlike other investments like stock market that you have to invest a lot of money to make a
reasonable profit, you can make a good income through investing small amount of money. It means you do not have to have a big account. You can start with a small
account, grow it and have a reasonable account after a while.
I guess now you know what Forex is all about. In this article, I tried to give you some general information about Forex trading. If you are looking for a business to
make money full time or part time, Forex is the best option. And if you are serious to choose Forex, you have to start learning it. This website is new, but I am not new
to Forex trading. I am an experienced, professional and full time Forex trader. I created this website to share my experiences and knowledge with those who want to
learn Forex. There are so many scams over the Internet that you have to be careful about. I will do my best to make this website as complete as possible for those
who want to learn Forex. You can subscribe using the below form and check back every now and then and read my articles.
Good Luck!
Friday, August 15, 2014
BINARY OPTIONS ALERTS 15/8/2014
8:30GMT GBP Second Estimate GDP q/q
CALL GBPUSD@0.9% OR HIGHER
PUT GBPUSD@0.7% OR LOWER
EXPIRY@9:00GMT
12:30GMT CAD Manufacturing Sales m/m
PUT EURCAD@0.6% OR HIGHER
CALL EURCAD@0.4% OR LOWER
EXPIRY@13:00GMT
12:30GMT USD PPI m/m 0.1%,Core PPI m/m
CALL USDJPY IF PPI IS 0.2% OR HIGHER AND CORE PPI IS
0.2% OR HIGHER
PUT USDJPY IF PPI IS 0% OR LOWER AND CORE PPI IS 0.2%
OR LOWER
EXPIRY@13:00GMT
13:00GMT USD TIC Long-Term Purchases
CALL USDJPY@35.3B OR MORE
PUT USDJPY@20.3B OR LESS
EXPIRY@13:15GMT
13:15GMT USD Capacity Utilization Rate,USD Industrial
Production m/m
CALL USDJPY IF CAPACITY RATE IS 79.4% OR HIGHER AND
INDUSTRIAL PRODUCTION IS 0.4% OR HIGHER
PUT USDJPY IF CAPACITY IS 79.% OR LOWER AND
INDUSTRIAL PRODUCTION IS 0.2% OR LOWER
EXPIRY@13:30GMT
13:55GMT USD Prelim UoM Consumer Sentiment
CALL USDJPY@83.2 OR MORE
PUT USDJPY@82.2 OR LESS
EXPIRY@14:15GMT
HAVE ANOTHER GREAT DAY!
=============================
Thursday, August 14, 2014
HOW TO TRADE FOREX WITH SIGNALS FROM CHIBECANGLOBAL
HI guys, today I will be writing on how I make money with Chibecan's Alerts, which I will be posting on this blog henceforth. The signals are always 95% correct when the rules are followed strictly.
I will be making the following assumptions:
1. That you know how to select any underlying market
2. That you can understand and follow simple instructions.
If you are not number 1 certified, please visit http://exceptionaltechy.blogspot.com/2014/08/binary-options-basics.html
and http://exceptionaltechy.blogspot.com/2014/08/types-of-trades-on-binarycom.html
THAT SAID, FOLLOW THE FOLLOWING STEPS
1. Goto http://www.forexfactory.com/calendar.php
Once it is about 5minutes to the release of the news event highlighted in the alerts just open your trading platform and refresh the forexfactory page at the news release time. Keep on refreshing the page until the new news numbers appear. Then compare the number with the one in the alerts and trade accordingly.
please note that u must not trade if u didn't get the numbers after the first 5minutes of the news release time..eg if news time is 2:00 and u get the news result by say 2:06.
You can practive with virtual account for some time.
Happy trading.
I will be making the following assumptions:
1. That you know how to select any underlying market
2. That you can understand and follow simple instructions.
If you are not number 1 certified, please visit http://exceptionaltechy.blogspot.com/2014/08/binary-options-basics.html
and http://exceptionaltechy.blogspot.com/2014/08/types-of-trades-on-binarycom.html
THAT SAID, FOLLOW THE FOLLOWING STEPS
1. Goto http://www.forexfactory.com/calendar.php
Once it is about 5minutes to the release of the news event highlighted in the alerts just open your trading platform and refresh the forexfactory page at the news release time. Keep on refreshing the page until the new news numbers appear. Then compare the number with the one in the alerts and trade accordingly.
please note that u must not trade if u didn't get the numbers after the first 5minutes of the news release time..eg if news time is 2:00 and u get the news result by say 2:06.
You can practive with virtual account for some time.
Happy trading.
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