Forex Strategy Builder is a complete solution for building and testing on-line foreign exchange market trading strategies. It is free for use and distribution. With Forex Strategy Builder's user friendly interface you can create and back test a profitable trading system with just a few clicks. Thanks to the program's automatic system generator a successful market strategy can be quickly produced without detailed technical analysis or programming skills. Using market rates, dating back to the 1980s, Forex Strategy Builder immediately calculates statistics and creates charts for the whole trade. You can easily create and test highly complicated trading systems using a wide variety of indicators and logic allowing for almost infinite combinations. The program also includes unique interpolation methods yielding reliable test result within each data bar. Forex Strategy Builder looks inside the current time frame using all shorter data periods to produce a realistic market back test, calculates the most profitable combination of parameters for the selected indicators, shows the average result balance between all possible market scenarios (while protecting from curve-fitting), shows you the price fluctuation inside each bar, and recognizes all the ambiguous bars in the back test. In short, Forex Strategy Builder provides you all you need to quickly accomplish an in-depth technical analysis. Once done you can export your strategy to get feedback from other experienced investors. On the program's website you can find additional information, help articles and tutorials as well as the source code of more than 70 indicators. You can learn more about the safety principles of back testing and to use ideas and systems from the forum members. Forex Strategy Builder is compatible with Microsoft Windows 98/Me/2000/XP/Vista. Net Framework v2 is required to run the program. Free to download, use and distribute - no registration is needed.
Forex is also considered by the name foreign market exchange or FX. Those concerned in the foreign exchange markets are usually the biggest, most wealthy business organizations and banks from around the world. They trade in multiple currencies from many countries to create that balance between those who will profit and others who might in all probability suffer fantastic losses. The fundamental principles of forex are similar to that of the stock market found in any country, only much bigger and complex. Forex dealing involves individuals, monies and transactions from all across the globe between every last country.Currency rates rise and fall on a daily basis so the measure of the dollar on one particular day of trading could be higher or lower the next. Forex trading can be hard to keep track of so you must dedicate yourself to watch closely or if you are investing huge amounts of money, you could lose large amounts of money. Primarily, trading in the forex exchange occurs in Tokyo in London and in New York, but there are also many other locations around the world where forex trading does take place.
The most heavily traded currencies are those that include (in no particular order) the British pound, Australian dollar, the Swiss frank, the United States dollar, the Eurozone euro and the Japanese yen. You can cross-trade currencies as well as mixing the trades between currencies to acquire extra money and daily interest.
The times when forex exchange will start at one hour and then close while other markets are opening. This is seen also in the stock exchanges from around the world, as transactions are starting in one time zone while making other transactions during various times. The conditions of forex trades in one region might create various results in another forex exchange as the countries take turns opening and closing with the time zones. Rates of exchange will be different from a forex exchange to another, and if you are a broker, or if you are learning about the forex markets you want to know what the rates are on a given day before making any trades.
The nature of the stock exchange is dependent on various products and their value as well as other financial factors that will change the price of stocks. When people find out a business event is going to happen before public disclosure, it is called insider trading, the use of illegal business intelligence to buy stocks and make money - which by the way is illegal. There is not so much inside trading in the forex trading markets. Financial trading is a basic part of the forex exchange but very little is based on business secrets, but more on the value of the economy, the currency and such of a country at that time.
A three letter code is attached to every currency on the forex exchange so no confusion exists when knowing which currency one is trading from or into. The euro is the EUR and USD stands for the US dollar. The British pound is the GBP and JPY stands for the Japanese yen. If you are interested in contacting a broker and becoming involved in the forex markets you can locate several brokers online where you can check out the company’s profile and type of forex transactions ahead of throwing your money down the drain.
If you would go out on a dinner with your friends or family and you mentioned that you were trading on the Forex market most of them wouldn’t know what you were talking about. The worst thing is that most of the Forex traders that join the Forex market don’t know what they are doing. Understanding what Forex is, is the first good step to your success at Forex trading.
The foreign exchange market (Currency, Forex, or FX) is where currency trading takes place. It is where banks and other official institutions facilitate the buying and selling of foreign currencies. Forex transactions typically involve one party purchasing a quantity of one currency in exchange for paying a quantity of another. The foreign exchange market that we see today started evolving during the 1970s when world over countries gradually switched to floating exchange rate from their erstwhile exchange rate regime, which remained fixed as per the Bretton Woods system till 1971.
Today, the Forex market is one of the largest and most liquid financial markets in the world, and includes trading between large banks, central banks, currency speculators, corporations, governments, and other institutions. The average daily volume in the global foreign exchange and related markets is continuously growing. Traditional daily turnover was reported to be over US$3.2 trillion in April 2007 by the Bank for International Settlements. Since then, the market has continued to grow. According to Euromoney's annual Forex Poll, volumes grew a further 41% between 2007 and 2008.
Forex Turnover
Main foreign exchange market turnover, 1988 - 2007, measured in billions of USD.
The purpose of Forex market is to facilitate trade and investment. The need for a foreign exchange market arises because of the presence of multifarious international currencies such as US Dollar, Pound Sterling, Yen, etc., and the need for trading in such currencies. Since you aren’t buying anything physical this kind of trading can be confusing. When buying a currency think of it as buying a part in that particular country’s economy because the currency rate reflects the economical situation of the country when compared to others.
Currencies
List of most popular currencies on the Forex market
Forex used to be a closed market because only the “big boys” because you needed between 10 and 50 million $ to open an account. But today, with the development of internet, online Forex brokers have the possibility to offer their services to “little” traders. All you need to start is a computer, fast internet connection and information which you can find on this page also.
This enormous market is like the dangerous sea where you can meet lots of sharks and dangerous waters but at the same time it is the only one where two weeks of trading can hypothetically bring you $1,000,000 out of $1,000 of initial investment.
This is certainly hypothetically because a lot of newbie traders deal with their trades as gambling, that surely bring them to having nothing in the end. You should always keep the phrase "be careful!" in your mind. This market would give you its profit possibilities only if you learn the basic things hard and make lots of demo trading.
The statistics is that as much as 95% of traders come to losing their money at Forex, 5% have profit and less than 1% of traders make large fortune at Forex. You shouldn't produce, sell or advertise anything trading at Forex. Your assets are your knowledge, experience and a small amount of cash.
This market is a platform for banks, transnational corporations and individual traders to change the currencies they possess into other ones. This is the spot Forex market. At this market you can trade with up to 1:400 leverage which means that you'll get $400 on your account for each dollar invested. So, you can trade with the $400,000 sum having invested $1,000 onto your account.
Forex is unique among other world markets because in any time of day and night, somewhere in the world, a financial centre is open for business, banks and corporations exchange currency all the time, with a little lower frequency during the weekend.
Why to trade on Forex?
1. There is no commission fee for trading at Forex. 2. There is no intermediary, you can trade directly at Forex. 3. Forex is open 24-hours a day. 4. Nobody can influence the market for a longer period. 5. High liquidity. 6. Free demo accounts, analysis and charts. 7. Small accounts that allow everyone to try out his luck.
Hope this has answered a lot of questions you were asking yourself about Forex and that you can now start trading. Also make sure that you check out other articles on this blog which can help you earn your fortune.
The foreign exchange market is worth over €2.3 billion. The majority of this is traded between banks for speculative purposes. A large amount however is traded by companies and private individuals in order to make payments overseas.
The markets work by large companies buying and selling currency for profit. The amount that is bought or sold determines the rate shown on currency websites. Due to the change between supply and demand, exchange rates fluctuate all the time.
There are various organisations that can convert currencies. Banks usually offer foreign exchange services, as do specialist foreign exchange dealers.
Working the Foreign Exchange Markets
The timing of a transaction is crucial to making money go further. Exchange rates change constantly and 10% fluctuations in a relatively short space of time are not uncommon. This could effectively increase, by 10% or more, the amount due when transferring money from one currency to another, for example exchanging Pound Sterling for Euro.
The are a variety of currency transfer options available depending on what is needed:
looking to make large payments in a another currency (for example to purchase a property)
looking to make smaller, more regular payments in a another currency (pension payments)
Spot Contracts
This option is suitable to purchase currency immediately. The rate received will be according to the markets on that day. Once the rate has been agreed with a currency dealer, arrangements will be made to send the money straight over to the designated bank account in France.
Transfers can be completed in one day to Europe when using a specialist foreign currency broker.
Forward Contracts
This option is ideal for people who need to make a payment in the future and wish to lock into a favourable exchange rate or to protect themselves from adverse exchange rate movements.
A forward contract offers the opportunity to fix an exchange rate for up to two years in the future, while paying only a small deposit.
Forward contracts can be for a set date in the future or can be flexible, depending on what is required.
The following example shows how using a forward contract can save substantially on a large cost such as a property purchase in France, paid in GBP.
A person looking to buy a €250,000 property in France for example would have received a rate of around 1.44 in mid-February 2006. The property would therefore have cost them £173,611. If they had booked a forward contract three months earlier however they would have received a rate of 1.49, so the property would have cost them just £167,785, a saving of nearly £6,000.
Stop loss orders
Stop loss orders are suitable for people who have funds to transfer but who have no real time constraints and are therefore looking to make the most of any favourable currency movements, while protecting themselves from any adverse currency movements.
It is an automated market order whereby you set a minimum level at which, if the markets reach this level, you will buy or sell your currency.
This effectively guarantees the minimum rate.
Limit Orders
These are suitable for people who have funds to transfer but who have no real time constraints and are therefore looking to make the most of a favourable currency movement, if one occurs.
This is another automated order whereby you set a target exchange rate at which, if the rate is achieved, you will buy or sell your currency.
Stop loss and limit orders can be run together to make the most of positive currency movements, while offering protection from negative movements.
Regular Payments
A regular payment plan is appropriate if regular currency transfers are being made (such as overseas mortgage or pension payments). This service removes the worry caused by exchange rate fluctuations when making currency payments over a period of time. An exchange rate can be fixed for up to two years on payments made within this time
UKForex is an Australian-based, high growth, financial services company expanding rapidly with offices in Sydney, London and Toronto. From these three offices, our dealing rooms service our global client base 24-hours a day.
As one of the world’s largest online foreign exchange providers, UKForex is a young, innovative and dynamic business that is offering a unique opportunity to the right person to be part of our global expansion and development.
Due to our ongoing success and continuing growth, we have an exciting role within our UKForex office based in London.
The role is for a Senior Corporate Dealer to join our team, reporting to the Manager of Corporate Business for UKForex. The successful candidate will possess a friendly and positive manner and will be able to take initiative.
Your main responsibilities will be to source new corporate business, anticipate and meet the needs of existing corporate customers, execute FX deals over the phone, provide market analysis to clients, clearly explain UKForex services to potential customers, handle customer enquiries efficiently and build on our reputation for great customer service. We will provide you with ongoing training in the following:
Custom built CRM system and online platform
Sales Training
Product Training
FX Market knowledge
Industry certification
The ideal candidates will possess:
Strong attention to detail
Integrity and good work ethic
Excellent written and oral communications skills
The ability to work autonomously as well as in a team
Great process management and multi-tasking abilities
Superior computer skills
A commitment to providing consistently outstanding service
Ideally you will have minimum 3 years of FX dealing experience with a proven track record within the industry.
For any conscientious employee, this role could a great continuation of an ongoing career in the finance industry. We will offer a competitive packaged salary commensurate with experience to the right candidate. This is an exciting time to join our innovative and dynamic company that continues to grow in profitability as we expand our services and products globally. Please send your resume to careers@ukforex.co.uk and include the following in the subject heading:
The Reserve Bank of Australia kept interest rates on hold at 3% as expected but said that there is still “scope for further easing of monetary policy” and identified credit conditions and the effects of economic weakness on asset quality as “a challenge”. May’s UK industrial production report headlines the calendar in European hours.
Key Overnight Developments
• New Zealand Business Sentiment Rebounded From Record Low, Says NZIER • Australia Keeps Interest Rates at 3% but RBA Sees ‘Scope’ For Further Easing
Critical Levels
The Euro slipped -0.2% against the US Dollar in overnight trading, while the British Pound slumped 0.4% against the greenback. Commodities and related stocks traded lower in Asian trading, boosting demand for the Dollar as a safe haven asset.
Asia Session Highlights
As we speculated in our weekly New Zealand Dollar forecast, the second-quarter edition of the NZIER Business Opinion Survey ticked higher to register at -25, meaning that a net 25% of the companies polled for the report believe the economy will deteriorate over the next six months. A record 65% of respondents were expecting worse conditions in the three months to March. Leading indicators were telegraphing a relative improvement, with the monthly NBNZ measure of business confidence rising steadily through the second quarter, swinging into positive territory in May for the first time since September 2008. Still, it remains to be seen if positive momentum can be maintained considering the soaring public deficit has seen Prime Minister John Key’s government abandon a hefty portion of the fiscal stimulus measures that had been included in the latest budget. Indeed, additional monetary easing may be in the cards in the weeks ahead despite RBNZ Governor Alan Bollard’s forecast that that economic growth will pick up by the end of this year.
The Reserve Bank of Australia kept interest rates on hold at 3%, as expected. In the statement accompanying the announcement, Governor Glenn Stevens sounded notably more aloof compared to recent months, saying that “credit conditions remain tight and the effects of economic weakness on asset quality present a challenge.” Stevens added that the bank sees “the outlook for inflation allows some scope for further easing of monetary policy, if needed…[and will] monitor how economic and financial conditions unfold and how they impinge on prospects for a sustainable recovery in economic activity.” The RBA chief also noted that firmer growth in China has helped Australia and noted tentative evidence the US is approaching a “turning point”, though Europe is “still weakening”. Stevens concluded that a durable recovery is contingent on “continued progress in restoring balance sheets.”
Euro Session: What to Expect
UK Industrial Production is expected to grow for the second consecutive month in May, adding 0.2%. In annual terms, the rate of decline is expected to ease to -11.3%, extending a moderation that began after the metric hit a record low at -12.8% in February. Still, output is still at the lowest levels in 17 years and unlikely to mount much of a recovery beyond smaller negative numbers in the headline figure as firms adjust inventories to lower levels of global demand. Manufacturing is the UK’s chief export sector, and the International Monetary Fund reckons world trade volumes will shrink -11% this year and rebound by a meager 0.6% in 2010, pointing to lackluster overseas demand and weak output growth for the time being.
In this section we would discuss and explain the interesting world of forex trading. We have a comprehensive understanding of the business and some of our top financial advisors had written this content over a number of years. The result is an interesting yet easy to understand currency trading book for investors involved in the Forex Trading market.
Easy Forex Trading Platform – Example Real-Time Charts for Major Currencies
Introduction: How to Use the Currency Trading Centre
This book has been developed to help the Forex beginner, though experienced and professional currency traders may find it a handy reference.
Beginners and novice Forex traders are likely to benefit from reading the entire text, starting with the first Chapter, which provides a basic overview of what currency trading is, and how to get started.
The chapters are set out in a logical flow, but do not need to be read in order to make sense, as each works as a discrete unit unto itself. You may prefer to focus first on those chapters that you feel will complement your particular knowledge base best. Read our forex glossary is a glossary of terms (listed alphabetically) used in the Forex business, that will prove helpful, and may serve as a valuable reference as you become an experienced currency trader.
With the help of this guide, you will soon be ready to start trading Forex – in fact, with the assistance of the online Easy-Forex™ team, you can start today. We wish you success in your trading, and hope you find this book interesting, helpful and enjoyable.
Before you start, please remember:
Currency trading (OTC Trading) involves substantial risk of loss, and may not be suitable for everyone. Before deciding to undertake such transactions, a user should carefully evaluate whether his/her financial situation is appropriate for such transactions. Read more in the "RISK WARNING" section on the Easy-Forex™ Trading Platform website.
Always ask your Forex dealer (the FX TRADING PLATFORM you wish to trade with) the questions we prepared for you in this book (chapter 9). Selecting the appropriate Forex TRADING PLATFORM is essential for success in handling your trading and monitoring your activity, as well as maximizing profits, while minimizing losses and costs.
Through its real-time Forex trading platform, Easy-Forex Australia offers complete Forex Dealing room services, 24 hours a day. In addition, Easy-Forex provides you updated with proprietary Forex trading news and information from Australia and a forex learning centre.
U.S. Dollar Trading (USD) Natural profit taking took place for most of the Asian and European session until results from JP Morgan once gain put the bulls in the driving seat. The rally failed to inspire currencies though and USD/JPY and EUR/USD failing to make substantial gains. Weekly Jobless Claims improved to 522k vs. 565K previously and help keep sentiment positive. US Philly FED fell to -7.5 vs. -2.2 previously.Crude Oil closed up $0.48 at $62.02. In US share markets, S& P ended +8.06 points (+0.86%) at 940.74, NASDAQ ended +22.13 points (+1.19%) at 1885.03 and DOW JONES ended +95.61 points (+1.11%) at 8711.82. Looking ahead, June Building Permits forecast 0.52 Mn vs. 0.518 Mn previously.
The Euro (EUR) tried multiple times to break higher but resistance was solid near the top end of the recent 2 month range. EUR/JPY responded to JP' Morgans results but found trading above 133 a little hard going with USD/JPY slipping on USD weakness. A topside failure will encourage traders to once again target the downside with 1.4000 and 1.3900 the natural targets. Overall the EUR/USD traded with a low of 1.4054 and a high of 1.4166 before closing at 1.4130. Looking ahead, May EU Trade is forecast unchanged at 2.7Bn.
The Japanese Yen (JPY) fell back through 94 Yen on heavy profit taking in Asia and failed to regain the level in the US session even as US stocks continued higher. Technicals have become very mixed and the price action suggest range trading will continue to be the dominate force in a market split about direction. Overall the USDJPY traded with a low of 93.25 and a high of 94.47 before closing the day around 94.20 in the New York session.
The Sterling (GBP)was contained to the previous days range with traders not willing to test 1.6500 without some sort of consolidation after the major rally seen already during the week. IMF issued the 2009 GDP forecast at -4.2% with 2010 seen +0.2%.Overall the GBP/USD traded with a low of 1.6354 and a high of 1.6483 before closing the day at 1.6390 in the New York session.
The Australian Dollar (AUD) broke briefly above 0.8050 resistance but topped out with the rest of the majors as traders began to take profit going into the weekend and further gains from stock markets becoming unlikely in the short term with the largest rally since march creating overbought signals across the market. Overall the AUD/USD traded with a low of 0.7958 and a high of 0.8075 before closing the US session at 0.8020. UPDATE EXPORT PRICES -20.6% in Q2 Largest in decades.
Gold (XAU) consolidated recent gains trading in a tight range. Overall trading with a low of USD$932 and high of USD$940 before ending the New York session at USD$936 an ounce.
TECHNICAL COMMENTARY
Currency
Sup 2
Sup 1
Spot
Res 1
Res 2
EUR/USD
1.3749
1.3833
1.4130
1.4201
1.4267
USD/JPY
91.74
92.72
93.85
94.89
95.46
GBP/USD
1.5803
1.5985
1.6390
1.6546
1.6745
AUD/USD
0.7703
0.7814
0.8030
0.8155
0.8237
XAU/USD
905.00
918.00
938.00
948.00
965.00
Euro � 1.4130
Initial support at 1.3833 (Jul 8 low) followed by 1.3749 (Jun 16 low). Initial resistance is now located at 1.4201 (July 1 high) followed by 1.4267 (Jun 5 high)
Yen � 93.85
Initial support is located at 92.72 (Jul 14 low) followed by 91.74 (July 13 low). Initial resistance is now at 94.89 (Jul 8 high) followed by 95.46 (Jul 7 high).
Pound � 1.6390
Initial support at 1.5985 (July 8) followed by 1.5803 (Jun 8 low). Initial resistance is now at 1.6546 (Jul 1 high) followed by 1.6745 (June 30 high).
Australian Dollar � 0.8030
Initial support at 0.7814 (July 14 low) followed by the 0.7703 (July 13 low). Initial resistance is now at 0.8155 (June 30 high) followed by 0.8237 (Jun 11 high).
Gold � 938
Initial support at 918 (Jul 8 low) followed by 905 (July 8 low). Initial resistance is now at 948 (June 26 high) followed by 965 (Jun 10 high).
Said to be one of the largest exchange market the Forex market is also gaining popularity. The possibility of earning large profits adds to the traders appeal. Although trading in this market is not easy, it can be, provided one understands the Forex trading system. Even a planned investment can many times take a wrong turn. The investor has a bad day even after planning his actions. Nevertheless, this is of little concern to the Forex trader. Every trader in the Forex market knows that to keep the losses at a minimum the trader will have to use the trading signals and this can be done only and when the trader uses the Forex trading system. In this way, he will learn to survive the volatile investment market and brave investing again. The Forex trade allows the traders to conduct their trade in a rather emotionless manner. This is because the pre-determined guidelines that form the system make it an easy task.
Executing his actions is now easy as there are fixed price levels of initial stop loss and trailing loss. Apart form this there already exists a computed price profit, which is projected in the trader’s interests. This in built system of computation allows the trader to know what his level of loss or profit is and even the risk to reward ratio before he even begins to trade for the day. Using the trading system the trader plans his trades and makes a profit if he trades correctly. But on the other hand if the trader makes a wrong move and is more likely to make a loss than a profit then the Forex trading system will show the trader that he is making a wrong move. In this way the trader is able to move out of the situation quickly and the huge losses he would have otherwise incurred is no more a worry. Trading in this way is very safe and the trader is warned when he makes a wrong move. The Forex trading comes under the day trading, meaning the investors buy and sell their securities or they open and close their markets on the very same day. There are many traders who believe that the day trading system is not worthwhile and does not give it much importance.
When you want to check the Forex trading system as an option, what you can do is review this trading system by finding out how other Forex traders like it. You can easily ask the existing Forex traders their trading experience and how they like it via the trading system. Trading forums are another way of receiving reviews about the Forex trading system. As there are a number of forums, you will have no difficulty in getting the information you require. However many professionals feel that day trading is quite profitable though it is not the easiest way to trade. If this wasn’t a profitable method of investing then how does one explain the large number of day traders who earn their income solely from this source? Therefore, if you wish to be part of any system that relates to day trading then it is necessary that you have sufficient knowledge about the Forex trading systems. Many sites let you in on the secrets of Forex trading. These sites provide you with Forex Strategies, Forex techniques and all other information that you may be in need of.
A number of tools, information and techniques are made available so that the Forex trading is made easy. Additionally these sites provide the facility of online Forex trading. There are sites that provide free online trading. This is extremely helpful for day trading as the trader can be up-to-date with the changes in the market. No matter whether you are interested in day trade or swing trade as long as you have a good trading system in place. These systems should help you conduct your trade in a safe manner and ease your trade. In this way, you can make the most of your investments and have the chance to increase your profits and reduce the losses. Knowledge of the Forex Trading System will help you even in your other day trading endeavors.
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Without any doubt the forex markets have become much more easily accessible these days than just a decade ago thanks to the widespread use of the internet in most countries of the world and the great number of brokers that now let you trade commission free and with narrow spreads. All this means that the high profitability of trading has become potentially accessible to any one, anywhere.
But in order to become a profitable trader you must first learn the basics of forex trading, this means, you need an education.
In Forex trading as in all other speculative activities in the markets there is a major and central problem that all, new and experienced traders, are bound to face every time they open their web-based trading stations. This central and ever important problem is, how do you do to predict the behavior of the market as time evolves in order to make the highest profit with the less risk possible.
Of course a totally precise prediction of the market behavior is not realistically possible, but a close approach to predicting the behavior is totally possible and within our reach. This is what makes a good forex trading system and sets it apart from the amateur systems. Once you have acquired a reliable trading system the odds will be on your favor because you are not only hoping or guessing what the markets will do next but you are entering your trades with the confidence your indicators and knowledge of the markets will give you.
Once you have handled this you will be on your way to becoming a profitable forex trader.
With forex trading becoming one of the most widely spread activities among people around the world the need of a reliable system that can make the difference in a trader’s life and bank account has become an imperative need.
The Forex market is known worldwide by its high liquidity and its high volume of transactions occurring during most of the long trading week characteristic of these very special markets. These characteristics highly contribute to make the market a very trendy market with very few trend-less periods during the whole trading period.
Every trader, even if he is new, has seen what is called a forex chart. This is, most of the time, what you first see when you start thinking about becoming a trader. In the beginning when you start analyzing charts you will realize that the market constantly displays some very familiar patterns of price movements in front of your eyes, this is what is called trends, and you will notice that once a pattern is established, it will become the most probable course of future price action until the market changes. Giving you a good forecast of what comes next with the currency prices.
As soon as you start learning more about analyzing the charts you will notice that a trending market has two main patterns:
Uptrends - A pattern of higher highs and higher lows.
Downtrends - A pattern of lower lows and lower highs.
The concept of a trending market may seem pretty simple at the beginning but it’s this great characteristic of the markets that allow the Profitable Trend Forex System to exist. With a proper understanding of trends this system can consistently generate 83-157 pips per week. Which is a great pips producing rate even for old and experienced trading professionals.
Now, what is the secret of this forex trading system? It’s simple. To be successful in trading, you only need to do two things: Identify the trend and join the trend with precise timing.
Are you wishing to learn more details about this Trend Forex System? You will find access to all the details here:
In this section of the site you can learn the basics about trading in the forex market from the first steps you need to make, to building your own FOREX trading system:
first of all, you need to open a FOREX trading account, preferably a free demo account before you start trading with real money,
EU-FOREX offers foreign exchange services via FX Solutions GTS dealing platform. FX Solutions was founded in 2001 by foreign exchange veterans with over 40 years combined experience. The company operates as a market-maker and principal counterparty to retail and institutional clients trading in the foreign exchange (Forex) market. We have become an industry leader by leveraging our advanced trading platform and superior customer service.
Our clients trade the foreign exchange market via the FX Solutions proprietary Global Trading System, one of the most advanced online retail Forex trading platforms. Our platform empowers foreign exchange traders with flexibility and such advantages as:
* Tight Spreads: 3-4 Pips in the Major Currencies * Charting with Pattern Recognition: Helps Traders Better * Recognize Potential Trading Opportunities * FLEXI Contract: Choose a Contract Size that Suits Your Trading Style * FLEXI Leverage: Select Your Leverage: 50:1, 100:1, 200:1, 250:1, 300:1, 400:1 * Fastest, Most Accurate Price Feed
Regulation
FX Solutions is registered with the Commodity Futures Trading Commission as a Futures Commission Merchant and is a member of the National Futures Association (NFA), ID# 0312620. As a member, we are accountable to the stringent standards of capital adequacy and financial reporting enforced by the NFA.
Safety of Funds
All client funds are deposited with a top-rated and secure financial institution, client funds are deposited with JPMorgan Chase Bank.
Forex Books for Beginners
Here you will find the Forex e-books that provide the basic information on Forex trading. You can learn basic concepts of the Forex market, the technical and fundamental analysis. While all these e-books are recommended for every new Forex trader, they won't be very useful to the very experienced traders.
Almost all Forex e-books are in .pdf format. You'll need Adobe Acrobat Reader to open these e-books. Some of the e-books (those that are in parts) are zipped.
If you are the copyright owner of any of these e-books and don't want me to share them, please, contact me and I will gladly remove them.
Candlesticks For Support And Resistance — The basics of trading with candlesticks charts by John H. Forman.
Commodity Futures Trading for Beginners — by Bruce Babcock.
Hidden Divergence — by Barbara Star, Ph.D.
Peaks and Troughs — by Martin J. Pring.
Reverse Divergences And Momentum — by Martin J. Pring.
Strategy:10 — Low-risk, high-return forex trading by W. R. Booker & Co.
The NYSE Tick Index And Candlesticks — by Tim Ord.
Trend Determination — A quick, accurate and effective methodology by John Hayden.
The Original Turtle Trading Rules — by OrignalTurtles.org.
Introduction to Forex — by 1st Forex Trading Academy. This trading course intends to provide to all of the students analytical tools on the trading system and methodologies. In this respect, the purpose of the course is to provide an overview of the many strategies that are being used in Forex market and to discuss the steps and tools that are needed in order to use these strategies successfully.
The Six Forces of Forex — by Scott Owens. A small e-book covering the basic and the main problems of Forex trading.
Study Book for Successful Foreign Exchange Dealing — by Royal Forex.
Forex. On-Line Manual for Successful Trading — an introduction into every aspect of the Forex trading including detailed descriptions of the technical and fundamental analysis techniques, by unknown author.
18 Trading Champions Share Their Keys to Top Trading Profits — as the name suggests, the book shares the secrets of the 18 prominent traders with the Forex beginners, by FWN.
The Way to Trade Forex — a 1st chapter of the book that will show you not only Forex basics but also some unusual techniques and strategies that can work for the newbie traders, by Jay Lakhani.
The Truth About Fibonacci Trading — the basic facts and information about Fibonacci levels and their application to the Forex trading, by Bill Poulos.
The chart and table below measures the performance of the different currency pairs in percentage terms since the close of the previous day (starting from 3:00 pm EST), previous month and previous year. The bar charts illustrate the performance of these currencies over different time spans.
%Change:
Day (15:00 NYT)
Month
Year
25.43%
EURGBP
20.25%
EURUSD
11.49%
AUDUSD
EURCHF
-2.35%
EURJPY
-3.81%
GBPUSD
-4.13%
USDCAD
-5.51%
AUDJPY
-10.83%
USDCHF
-18.8%
USDJPY
-20.03%
GBPCHF
-22.15%
GBPJPY
-23.31%
Rate
Last
Ystd Close
% Chng
2006 Open
YTD
MTD
EURUSD
1.4228
1.4224
0.03%
1.1832
20.25%
1.33%
USDJPY
94.37
93.560
0.87%
118
-20.03%
-2.02%
GBPUSD
1.6490
1.6461
0.18%
1.72
-4.13%
0.18%
USDCHF
1.0675
1.0650
0.23%
1.3146
-18.8%
-1.63%
AUDUSD
0.8180
0.8178
0.02%
0.7337
11.49%
1.35%
USDCAD
1.0985
1.0986
-0.01%
1.1626
-5.51%
-5.44%
EURJPY
134.31
133.12
0.89%
139.63
-3.81%
-0.72%
AUDJPY
77.21
76.520
0.9%
86.59
-10.83%
-0.71%
GBPJPY
155.67
154.03
1.06%
202.98
-23.31%
-1.85%
EURGBP
0.8626
0.8638
-0.14%
0.6877
25.43%
1.16%
GBPCHF
1.7605
1.7533
0.41%
2.2614
-22.15%
-1.45%
EURCHF
1.5189
1.5149
0.26%
1.5554
-2.35%
-0.32%
* The historic data above is for reference only and is not indicative of any futur
In 1967, a Chicago bank refused a college professor by the name of Milton Friedman a loan in pound sterling because he had intended to use the funds to short the British currency. Friedman, who had perceived sterling to be priced too high against the dollar, wanted to sell the currency, then later buy it back to repay the bank after the currency declined, thus pocketing a quick profit. The bank’s refusal to grant the loan was due to the Bretton Woods Agreement, established twenty years earlier, which fixed national currencies against the dollar, and set the dollar at a rate of $35 per ounce of gold.
The Bretton Woods Agreement, set up in 1944, aimed at installing international monetary stability by preventing money from fleeing across nations, and restricting speculation in the world currencies. Prior to the Agreement, the gold exchange standard--prevailing between 1876 and World War I--dominated the international economic system. Under the gold exchange, currencies gained a new phase of stability as they were backed by the price of gold. It abolished the age-old practice used by kings and rulers of arbitrarily debasing money and triggering inflation.
But the gold exchange standard didn’t lack faults. As an economy strengthened, it would import heavily from abroad until it ran down its gold reserves required to back its money; consequently, the money supply would shrink, interest rates rose and economic activity slowed to the extent of recession. Ultimately, prices of goods had hit bottom, appearing attractive to other nations, who would rush into buying sprees that injected the economy with gold until it increased its money supply, and drive down interest rates and recreate wealth into the economy. Such boom-bust patterns prevailed throughout the gold standard until the outbreak of World War I interrupted trade flows and the free movement of gold.
After the Wars, the Bretton Woods Agreement was founded, where participating countries agreed to try and maintain the value of their currency with a narrow margin against the dollar and a corresponding rate of gold as needed. Countries were prohibited from devaluing their currencies to their trade advantage and were only allowed to do so for devaluations of less than 10%. Into the 1950s, the ever-expanding volume of international trade led to massive movements of capital generated by post-war construction. That destabilized foreign exchange rates as setup in Bretton Woods.
The Agreement was finally abandoned in 1971, and the US dollar would no longer be convertible into gold. By 1973, currencies of major industrialized nations floated more freely, as they were controlled mainly by the forces of supply and demand. Prices were floated daily, with volumes, speed and price volatility all increasing throughout the 1970s, giving rise to new financial instruments, market deregulation and trade liberalization.
In the 1980s, cross-border capital movements accelerated with the advent of computers and technology, extending market continuum through Asian, European and American time zones. Transactions in foreign exchange rocketed from about $70 billion a day in the 1980s, to more than $1.5 trillion a day two decades later.
The Explosion of the Euromarket
A major catalyst to the acceleration of Forex trading was the rapid development of the eurodollar market; where US dollars are deposited in banks outside the US. Similarly, Euromarkets are those where assets are deposited outside the currency of origin. The Eurodollar market first came into being in the 1950s when Russia’s oil revenue-- all in dollars -- was deposited outside the US in fear of being frozen by US regulators. That gave rise to a vast offshore pool of dollars outside the control of US authorities. The US government imposed laws to restrict dollar lending to foreigners. Euromarkets were particularly attractive because they had far less regulations and offered higher yields. From the late 1980s onwards, US companies began to borrow offshore, finding Euromarkets a beneficial center for holding excess liquidity, providing short-term loans and financing imports and exports.
London was, and remains the principal offshore market. In the 1980s, it became the key center in the Eurodollar market when British banks began lending dollars as an alternative to pounds in order to maintain their leading position in global finance. London’s convenient geographical location (operating during Asian and American markets) is also instrumental in preserving its dominance in the Euromarket.
People are introduced to the exciting world of foreign exchange in many ways: friends, current events, newspapers, television, and many others. For those of you who are new to forex, the following guidelines cover the basics of currency trading.
Step 1: "Practice makes perfect"
Demo trade. The demo account was designed to help traders gain familiarity with the speed and movements of the market. When you are demo trading, you should learn how to: 1) place market orders to enter a trade, 2) place stop-loss orders to protect your positions, and limit orders to take profits, 3) place OCO orders and If Done Orders to execute more advanced strategies.
DealStation Video-Tutorials
The MG DealStation tutorials are designed to serve as audio-visual guides for traders to gain familiarity with the MG DealStation Trading Platform.
Forex traders use fundamental analysis, technical analysis, quantitative analysis and sometimes a combination of all three to make their trading decisions. Fundamental analysis involves the use of economic, financial and political news to determine trading decisions. Technical analysis involves the study of Charts to predict future price movements based on past price patterns and trends. Quantitative analysis consists of the use of preset statistical models and properties in quantifying price formations such as averages, retracements as well as identifying oversold and undersold situations.
In order to help novice and experienced traders alike, MG has developed www.forexnews.com, a leading site on foreign exchange analysis, news and education. Comprehensive previews and summaries updated 4 times per day, insightful editorials covering the latest market developments and an open forum for discussing trading tips and ideas, are just some of the many features of Forexnews.com and MG's commitment to educating and informing Forex participants.
Step 3: Manage your money wisely.
You should always be aware of the amount of money in your account before placing a trade. If you think a long-term trend is developing, then you should consider whether you have enough funds to maintain your margin and withstand any movements against your position(s) that may occur. We encourage everyone who opens an account with us to ask themselves the following questions prior to entering each trade:
1) How much am I willing to risk? 2) What is my upside and downside potential? 3) What are the market conditions? (Is the market volatile or calm?) 4) What is the logic behind entering this trade? 5) When can I conclude if the assumptions/logic behind the trade are/is correct or wrong?
Before entering an order, you should consider both your entry and exit points. One of the mistakes most commonly made by traders, especially new traders, is letting emotions get in the way of their strategy.
Step 4: Stay Connected:
It is impossible to follow the forex market 24 hours day, 7 days a week. For better management of your account, we encourage you to use our Wireless Service and alert!FX™.
Step 5: Open a Live Account.
If you feel ready to trade this market, fill out our application forms and submit them today. Since the emotional factor may be higher than it was when you were demo-trading (as you are now committing real money), it is essential that you develop an effective strategy while demo-trading and plan to abide by it when trading your live account.
Buy a copy of School of Pipsology for $49 in PDF format
Buy and download a printable and easy-to-read PDF document containing the ENTIRE School of Pipsology. The PDF is an exact copy of the School section, over 250 pages (pictures included), minus advertisements and chapter-ending quizzes. Read it on-screen or print it so you can take it with you on the road.
When you buy the PDF you'll receive an email within minutes with (1) a DIRECT LINK to download the PDF and (2) a PASSWORD to open the PDF. You MUST have the password to open the PDF.
*Please add INFO@BABYPIPS.COM and SERVICE@BABYPIPS.COM to your SPAM whitelist/safe-sender list.
I agree to be charged $49 for one copy of "School of Pipsology" in PDF format. PAYPAL is the only form of payment accepted. I understand I'm purchasing a single copy for myself and I won't make copies of the book or distribute it to anyone else. If someone else wants a copy I'll encourage them to purchase their own. I also understand that I will need a password to open the PDF each time.
"Hey Mr. Futures, don't our short shorts look cool?"
Liquidity
In the spot Forex market, almost $2 trillion is traded daily, making it the largest and most liquid market in the world. This market can absorb trading volume and transaction sizes that dwarf the capacity of any other market. The futures market traders a puny $30 billion per day. Thirty billion?!! Peanuts! The futures markets can't compete with its limited liquidity. The Forex market is always liquid, meaning positions can be liquidated and stop orders executed without slippage except in extremely volatile market conditions.
24-Hour Market
At 2:15 p.m. EST Sunday, trading begins as markets open in Sydney and Singapore. At 7 p.m. EST the Tokyo market opens, followed by London at 2 a.m. EST. And finally, New York opens at 8 a.m. EST and closes at 5 p.m. EST. So, before New York trading closes the Sydney and Singapore markets are back open - it’s a 24 hour seamless market! As a trader, this allows you to react to favorable or unfavorable news by trading immediately. If important data comes in from England or Japan while the U.S. futures market is closed, the next day's opening could be a wild ride. (Overnight markets in futures currency contracts exist, but they are thinly traded, not very liquid, and are difficult for the average investor to access).
Commission Free Trading
You know what’s great about trading currencies? You pay NO commissions! Because you deal directly with the market maker via a purely electronic online exchange, you eliminate both ticket costs and middleman brokerage fees. There is still a cost to initiating any trade, but that cost is reflected in the bid/ask spread that is also present in futures or equities trading. Brokers are compensated for their services through the bid-ask spread instead of via commissions.
Price Certainty
When trading Forex, you get rapid execution and price certainty under normal market conditions. In contrast, the futures and equities markets do not offer price certainty or instant trade execution. Even with the advent of electronic trading and limited guarantees of execution speed, the prices for fills for futures and equities on market orders are far from certain. The prices quoted by brokers often represent the LAST trade, not necessarily the price for which the contract will be filled.
Guaranteed Limited Risk
Traders must have position limits for the purpose of risk management. This number is set relative to the money in a trader’s account. Risk is minimized in the spot FX market because the online capabilities of the trading platform will automatically generate a margin call if the required margin amount exceeds the available trading capital in your account. All open positions will be closed immediately, regardless of the size or the nature of positions held within the account. In the futures market, your position may be liquidated at a loss, and you will be liable for any resulting deficit in the account. That sucks.
Buy a copy of School of Pipsology for $49 in PDF format
Buy and download a printable and easy-to-read PDF document containing the ENTIRE School of Pipsology. The PDF is an exact copy of the School section, over 250 pages (pictures included), minus advertisements and chapter-ending quizzes. Read it on-screen or print it so you can take it with you on the road.
When you buy the PDF you'll receive an email within minutes with (1) a DIRECT LINK to download the PDF and (2) a PASSWORD to open the PDF. You MUST have the password to open the PDF.
*Please add INFO@BABYPIPS.COM and SERVICE@BABYPIPS.COM to your SPAM whitelist/safe-sender list.
I agree to be charged $49 for one copy of "School of Pipsology" in PDF format. PAYPAL is the only form of payment accepted. I understand I'm purchasing a single copy for myself and I won't make copies of the book or distribute it to anyone else. If someone else wants a copy I'll encourage them to purchase their own. I also understand that I will need a password to open the PDF each time.
The Forex market is a seamless 24-hour market. Most brokers are open from Sunday at 2PM EST until Friday at 4 PM EST with customer service available 24/7. With the ability to trade during the U.S., Asian, and European market hours, you can customize your own trading schedule.
Commission Free Trading
Most Forex brokers charge no commission or additional transactions fees to trade currencies online or over the phone. Combined with the tight, consistent, and fully transparent spread, Forex trading costs are lower than those of any other market. The brokers are compensated for theirs services through the bid/ask prices.
Instantaneous Execution of Market Orders
Your trades are instantly executed under normal market conditions. You also have price certainty on every market order under normal market conditions. What you click is the price you get. You’re able to execute directly off real-time streaming prices (Yeeeaah!). There's no discrepancy between the displayed price shown on the platform and the execution price to enter your trade. Keep in mind that most brokers only guarantee stop, limit, and entry orders are only guaranteed under normal market conditions. Fills are instantaneous most of the time, but under extraordinarily volatile market conditions order execution may experience delays.
Short-Selling without an Uptick
Unlike the equity market, there is no restriction on short selling in the currency market. Trading opportunities exist in the currency market regardless of whether a trader is long or short, or which way the market is moving. Since currency trading always involves buying one currency and selling another, there is no structural bias to the market. So you always have equal access to trade in a rising or falling market.
Look at Mr. Forex. He's so confident and sexy. Mr. Stocks has no chance!
No Middlemen
Centralized exchanges provide many advantages to the trader. However, one of the problems with any centralized exchange is the involvement of middlemen. Any party located in between the trader and the buyer or seller of the security or instrument traded will cost them money. The cost can be either in time or in fees. Spot currency trading does away with the middlemen and allows clients to interact directly with the market-maker responsible for the pricing on a particular currency pair. Forex traders get quicker access and cheaper costs.
Buy/Sell programs do not control the market
How many times have you heard that "fund A" was selling "X" or buying "Z"? Rumor had it that the funds were taking profits because of the end of the financial year or because today is "triple witching day", all as an explanation of why this stock is up or the market in general is down or positive on the session. The stock market is very susceptible to large fund buying and selling.
In spot trading, the liquidity of the Forex market makes the likelihood of any one fund or bank to control a particular currency very slim. Banks, hedge funds, governments, retail currency conversion houses and large net-worth individuals are just some of the participants in the spot currency markets where the liquidity is unprecedented.
Analysts and brokerage firms are less likely to influence the market
Have you watched TV lately? Heard about a certain Internet stock and an analyst of a prestigious brokerage firm accused of keeping its recommendations, such as "buy" when the stock was rapidly declining? It is the nature of these relationships. No matter what the government does to step in and discourage this type of activity, we have not heard the last of it.
IPO's are big business for both the companies going public and the brokerage houses. Relationships are mutually beneficial and analysts work for the brokerage houses that need the companies as clients. That catch-22 will never disappear.
Foreign exchange, as the prime market, generates billions in revenue for the world's banks and is a necessity of the global markets. Analysts in foreign exchange don't drive the deal flow, they just analyze the forex market.
8,000 stocks versus 4 major currency pairs
There are approximately 4,500 stocks listed on the New York Stock exchange. Another 3,500 are listed on the NASDAQ. Which one will you trade? Got the time to stay on top of so many companies? In spot currency trading, there are dozens of currencies traded, but the majority of the market trades the 4 major pairs. Aren’t four pairs much easier to keep an eye on than thousands of stocks? I’d say so.
Buy a copy of School of Pipsology for $49 in PDF format
Buy and download a printable and easy-to-read PDF document containing the ENTIRE School of Pipsology. The PDF is an exact copy of the School section, over 250 pages (pictures included), minus advertisements and chapter-ending quizzes. Read it on-screen or print it so you can take it with you on the road.
When you buy the PDF you'll receive an email within minutes with (1) a DIRECT LINK to download the PDF and (2) a PASSWORD to open the PDF. You MUST have the password to open the PDF.
*Please add INFO@BABYPIPS.COM and SERVICE@BABYPIPS.COM to your SPAM whitelist/safe-sender list.
I agree to be charged $49 for one copy of "School of Pipsology" in PDF format. PAYPAL is the only form of payment accepted. I understand I'm purchasing a single copy for myself and I won't make copies of the book or distribute it to anyone else. If someone else wants a copy I'll encourage them to purchase their own. I also understand that I will need a password to open the PDF each time.
Opening a new online trading account with a Forex broker can be done in three simple steps:
Selecting an account type
Registration
Activating your account
Before trading a dime of your hard earned money, you may want to think about opening demo account. Actually, open up two or three demos - why not? It’s all FREE! Try out several different brokers to get a feel for the right one for you.
Account Types
When you're ready to open a live account, you have the choice of opening a Forex trading account under your personal name or a business name. Also, you will have to decide whether or not you want to open a "standard" account or a "mini" account (or "micro" account if available). Inexperienced traders or traders with a small amount of capital to trade should always open a mini account. Only experienced traders with lots of money should open a standard account.
Always read the fine print.
Some brokers have a “managed account” option in their applications. If you want the broker to trade your account for you, pick this, but obviously you’re here to learn how to trade the Forex for yourself. Besides, opening a managed account typically requires a pretty big minimum deposit - $25,000 or higher - and the broker also takes a portion of the profits.
Also, make sure you open a Forex spot account and not a “forwards” or “futures” account.
Registration
You will have to submit paperwork in order to open an account and the forms will vary from broker to broker. They are usually provided in PDF format and can be viewed and printed using Adobe Acrobat Reader program.
Account Activation
Once the broker has received all the necessary paperwork, you should receive an email with instructions on completing your account activation. After these steps have been completed, you will receive a final email with your username, password, and instructions on how to fund your account.
So all that’s left is for you to login and start trading. Pretty easy huh?
But wait a darn minute!
STOP!
We strongly advise you spend some time at our entire School of Pipsology before you start risking real money.
Why?
Because if you don’t, you will lose all of your money and freak out!
You’re probably thinking, “So if I read through your School of Pipsology first, I will not lose any money?”
No, we’re not saying that. You will still probably lose money...
But you’ll lose LESS, much less, and probably feel fine that you lost money. Go through our entire School of Pipsology and you'll understand what we mean.
