Explosive Profits: 7 Reasons to Trade Forex

by: Sorna Devadas
There are many money-making opportunities out there and we’ve been involved with quite a few, namely property marketing, web development, residential construction security, multi-level marketing businesses etc.
We’ve come to a few conclusions with the help of some well-known properity coaches.
Often people with the income they desire don’t have the time to enjoy it. Those that have time don’t often have money. You don’t have to sacrifice your life-style to earn an above-average income. If you focus on the Forex for a few months you can make that dream a reality and create time and money to do what you REALLY want.
To earn a living money is given in exchange for a product or service rendered. It needs to be sold continuously otherwise your income stops abruptly unless it’s a repeat type of product or service.
Money is a medium of exchange. There’s no magical formula to possess it, you need to exchange something of value for it.
What if, you could have access to thousands of customers who are ready, willing and able to buy from you whenever you wanted? Wouldn’t it be great to avoid any hassles like money collection problems (just had a delayed payment from my web business), keeping difficult customers happy (we all know what that’s like), competition stealing your business without providing the same value etc.
All that is possible with Forex. You can also trade from anywhere. Take your laptop with you, find an internet connection and away you go.
Another advantage is that you don’t need experience to get started. Get a traditionally job involves accumulating specialized experience, having a well-polished resume and having the right contacts. With the right training course, you can get started straight away.
Here’s 7 more reasons to trade Forex:
1. It never closes. It’s open around the clock, worldwide. Trading positions open at Monday 7am, New Zealand time and close 5pm New York time on Friday. During this time, you can enter or exit the market whenever you like. It’s a continuous electronic currency exchange. This is great because you can trade whenever you have spare time.
2. Leverage. Standard $100 000 currency lots can be traded with as little as $1000. This is mainly because of the ease with which you can buy and sell, some brokers will leverage up to 200 times, so with $100 you can control a 200 000 unit currency position. It’s the best use of trading capital around, even banks lending on property investments don’t come close.
3. Accurately predict the outcomes. Currency prices generally repeat themselves in predictable cycles so you can see what the trends are. ‘Technical Analysis’ helps to see these trends and profit from them.
4. Low Transaction Cost. In other words, you mistakes won’t cost you a fortune. Good brokers won’ charge commissions to trade or maintain an account even if you have a mini account and trade small volumes.
5. Unlimited Earning Potential. Forex has a daily trading volume of over 1.5 trillion, the largest financial market in the world. It dwarfs the equities market (50 billion daily) and the futures market (30 billion).
6. You can make money in any market conditions. Each market is one currency against another, so when you buy in one, you’re selling in another so there’s no biase towards either currency moving up or down. This means it’s up to you to choose which currency to buy or sell with. Yu can make money going up or down.
7. Market transparency. This is an advantage in any business or trading environment. It means you can manage risk and execute orders within seconds. It’s highly efficient and allows you to avoid unexpected ‘surprises’.
I hope you’re now convinced that Forex is the best investment and income opportunity around.
To continue your journey of Forex Trading success and achieve enormous profits, visit http://www.wealthyforex.com/. You’ll receive all of the resources you need to positively impact your future.

Forex The Future Investment

by: Mike Pachuta
There are many many advantages over the various other ways of investing. First of all it is a 24 hr market, except for weekends of course. You have the US market then the european and then the Asian. One of the great times to trade is during the over lapping periods. The USA and european overlap between 5am & 9am eastern and the Euro & Asian between 11pm & 1am eastern. Usually the busiest time and best to trade.
The is also the risk factor for the accounts. With futures and options you can get margin calls that can wipe you out. If you get caught in a bad trade not only do you lose the money in the account but you may have to come up with alot more from your pocket. It can be very risking. But not in Forex. Worst case senerio you could lose whats in you account. But you would have to do something really stupid. Like making a big trade on a Fundamental day and leave it alone. If market takes a bad move and you weren't there. OOOPS. But That wouldn't happen with a smarth trader.
Then there are the demo accounts which is an account where you can trade using all the right things, platform,charts,and information. But you are using play money, or what we call paper trading too.
Plus with Forex you have a mini account. Instead of needing thousands of dollars to get into it. You can open an account with as little as $300.00. Now of course you will be trading at 1 tenth of a trade. IN other words you controling 10,000 instead of 100,000.00 These are call lots. Which also means you will only risk 1 tenth too!
So if you would love to learn to do investing and not have near the risk you really need to take a closer look at Forex trading.

About The Author
Mike Pachuta Forex trading is exciting Free trading training. http://www.SUCCESSFUL-FOREX.COM/ mpachuta@yahoo.com

5 Things You Must Do If You Want To Attain Financial Freedom Through Forex Trading

by: Eddie Yakubovich
With the amazing growth of the forex market, you are going to see an astounding amount of traders lose all their money. Unfortunately, they haven't followed the simple steps I have laid out for you. Go through these steps and give yourself the greatest opportunity to achieve your goals.
1. Have Faith In Yourself
To reach the level of elite forex trader, you must trust in yourself and your forex trading education. You must be willing to make all your trading decisions, instead of relying on someone else's thoughts or ability (or lack of). Of course, you will prepare yourself fully before every risking any money.
2. Accept Your Learning Curve
Unless you are a veteran trader, you will lose money trading the Forex market. This is a near certainty. I don't say this to talk you out of trading. In fact, quite the opposite. You will be trading against others that fall to this reality day in and day out. You, however, will not risk a dime until you have learned the skills you need to make money trading the forex.
3. Decide What Type of Trader You Are
There are many ways to trade the forex. They range from very active to very patient. You must decide which style suits you best. The best time to learn this about yourself is while you are trading a demo account. There is no need to allow your learning curve to cost you money.
4. Get Educated
Education is the shortest path to elite forex trading. Regardless of your ultimate goals, you will reach them quicker with a great forex trading education. Take some time to review different options before deciding on who to trust with your forex trading education needs. A forex seminar will help shorten your learning curve drastically.
5. Continue to Get Educated
In order to achieve and retain elite forex trading skills, you must constantly be adding to you knowledge base. Your education should never end. In fact, one of the key points to look for in an elite forex trading course is ongoing education. It's nice to have an ongoing relationship with the person/people helping you to achieve your goals.
What separates an elite forex trader from all others is their desire and ability to be independent. Many traders are willing to follow signals, systems, strategies, or anything else you may call them. By taking this approach, however, these traders are only as good as the people they follow.
An elite forex trader will lead. Their decisions will be calculated and analyzed to near perfection. They will make decisions with no hesitation, and handle the growth of their account in a predetermined, intelligent fashion. Take your trading to their level and you will never look back.

Eddie Yakubovich has trained hundreds of successful traders using the same methods found in his elite forex trading course. This forex seminar provides you with as in depth a forex trading education we have ever seen. We highly recommend it.
elite-forex-trading.com
eddiey@elite-forex-trading.com

Forex Currency Trading, A Great Work At Home Opportunity.

by: Adrian Pablo
Everyday more and more people looking for a work at home opportunity and the possibility of braking free from the corporate world without losing their current lifestyle and even improving it, realize that the world of forex currency trading could be the answer to what they have been looking for.
Some of the great reasons why FOREX trading is such a great way of entering the capital markets are; it's easy accessibility thanks to the widespread use of the internet, the fact that currency trading is all commission-free and also the low transaction costs involved. All the best forex brokers will facilitate you a trading account with these characteristics and even Mini Forex traders (i.e., traders starting with accounts having a capital as low as $250), who are just starting in this field, can buy and sell currencies online always commission-free.
When trading the forex markets you don't have to worry everyday about fees you may have to pay your broker; there are also none of the usual fees to which futures and equity traders are used to pay every day the enter a trade; no exchange or clearing fees, no NFA or SEC fees.
You may be asking how forex brokers make money if they don't charge you fees for placing trades. They make money thanks to one characteristic of currency markets, this is, they are over-the-counter markets and trading them involves a bid/ask spread and that's how the brokers make money. Thankfully the currency markets are capable of offering you a round-the-clock liquidity and this way you will receive tight, competitive spreads both in intra-day and night trades, without worrying about having big spreads in prices.
Once you have decided to enter and learn how to trade forex, always remember that practice and more practice makes the master and one of the best ways to get a feel for the market is to paper trade. No one wants to experiment with their own hard earned money; this is why many brokers came up with an innovative idea that would take all the risk from trying out forex trading. This way of trading is called simulation trading or paper trading as mentioned above, and the premise is simple. The program is an exact copy of the broker or trading systems real-time trading program. The main difference is that they allow you to “play” the market just as you would if you were actually investing, but obviously without the persistent worry of losing your money. You can do a simulation trade with a set amount of money, usually around $50,000 dollars. You can practice setting bid and ask prices, and using their various analysis tools provided by the broker software, which is the same you would have in a real account.
From all these facts you can see there are many advantages, and lots of money to be made, if you decide to enter the world of forex currency trading and learn the basics of the markets behavior.

Adrian Pablo is a Forex freelance writer with articles published in a number of places. Get a free report on Fibonacci Trading and learn more about the world of forex trading , visit: http://www.1-forex.com/

Forex Broker Advice

Do you want to make more money? Investing money is what you should be looking to do. Investing money in Forex broker advice is going to help you build your nest egg, build your wealth and it only takes a few minutes of your times. Using Forex broker advice, you are going to be able to find an investment that will make your money grow faster than a savings account. A Forex account is an investment in the foreign exchange market. Forex broker advice is going to be all the advice you need about how to get started, where you can invest your money, when you should start investing in Forex systems. Following your Forex broker advice you will be able to earn interest on the money you invest. You will find it easily to build a retirement plan, and you will be investing in companies that you can research so you always know where your money is going to be used. Forex broker advice is going to be all about how much money you should invest, why you should consider Forex investing instead of stocks, and Forex broker advice is going to be based on solid business decisions that will help you learn the foreign investing world. Your Forex broker advice is going to be the best advice you will get about the foreign markets. There are so many changes in the market every day and a broker is going to be more apt to read up and be able to tell you where you should invest, and when to pull your money to put it somewhere else. Some people do not like to listen to Forex broker advice, and will like to learn the ropes on their own. That is ok too, but you should know that it would be difficult to learn all the things that a broker can do for you in the Forex market. To get involved with the Forex market you first want to find a broker. Not all stockbrokers are going to be brokers involved in the Forex markets. Forex broker advice will be found with those companies that deal in foreign markets, such as larger banks, larger investment companies, not many small investment companies actually deal with Forex systems, or have Forex broker advice to offer investors. Start now by reading more about where you can find a Forex systems broker, and then determine which company you want to deal with. From there, you can get involved in making a new nest egg for your family, your retirement or even both!

About The Author
Kenneth Langlet is an independent writer and owner of the website http://www.brokers-and-traders.com/ where you can get more information about Forex broker.

Learn Forex Trading Strategy

Are you interested in forex trading? If you are, you should probably start off by learning more about it and get some training. Proper training is a must if you are going to be trading. There is a lot of money involved in forex trading. Without properly learning the forex market and how to trade forex, you can really lose a lot of money. However, you can also really make a lot of money once you know what you are doing. 90% of traders actually lose money in the forex market leaving only 10% of traders making money. Do you want to be part of the 90% or 10%? It is really up to you. Get the proper training to learn the forex market and start making money by trading forex. With the right training, you can learn how to start making money by trading forex in your very first month. If you don’t even know what forex trading is at this point, you definitely need to get some proper forex training to learn it. To summarize what forex trading is, it is pretty much trading, or exchanging of one countries money for another countries money. There are many places to get good forex training. There are also many places that can offer you poor forex training. There are many poor training systems out there that just want to take your money. However, there are also training systems out there that will actually teach you the forex market and show you how to trade so that you will make a profit. The first thing you should learn is what forex trading actually is and how it works. The forex market is always changing so you need to be updated with the latest information and news regarding it. After understanding the basics of how the forex market works, you should then start learning more in depth detail of how to trade and earn a profit. While you are still learning how to trade forex, you should never manage an actual account. You should always start with a demo account before you actually try it for real and manage a real account. For more information on where exactly to get the proper training needed to trade forex, visit http://www.netearnings.biz/forex/index.html

by: Kevin Anderson

Forex Trading: Learn How To Read A Forex Quote

Forex is an abbreviated name for "foreign exchange." The Forex market is a non-stop cash market where the currencies of nations are bought and sold, typically via brokers. For example, you buy Euros, paying with U.S. Dollars, or you sell Euros for Japanese Yen. The value of your Forex investment increases or decreases because of changes in the currency exchange rate or Forex rate. These changes often result from economic and political factors, such as the price of oil or political unrest. To better understand how the exchange rate can affect the value of your Forex investment, this article shows you how to read a Forex quote. Forex quotes are always expressed in pairs. In the following example, your "pair" of currencies are the U.S. Dollar (USD) and the Euro (EUR). The Forex quote, USD/EUR = 265.50, means that one U.S. dollar is equal to 265.50 Euros. The currency to the left of the / (USD in this case) is referred to as base currency and its value is always 1. The currency to the right of the / (EUR in this case) is referred to as the counter currency. In this example, one USD can buy 265.50 EUR, since it is the stronger of the two currencies. Because the U.S. dollar is regarded as the central currency of the Forex market, it is always treated as the base currency in any Forex quote where it is one of the pairs. Incidentally, the U.S. Dollar is involved in nearly 90% of all Forex transactions. In this example, your "pair" of currencies are the Japanese Yen (JPY) and the Euro (EUR). The Forex quote, JPY/EUR= 175.10, means that one Japanese Yen is equal to 175.10 Euros. The currency to the left of the / (JPY in this case) is referred to as base currency and its value is 1. The currency to the right of the / (EUR in this case) is referred to as the counter currency. In this example, one JPY can buy 175.10 EUR, since it is the stronger of the two currencies. The goal of any Forex trading system is to profit from foreign currency movements. This requires adequate training in basic Forex principles, such as performing a Technical Analysis, using Forex charts and Stop/Loss tools, and keeping up-to-date with economic and political events. In a sense, Forex training never ends.

by: Gregory DeVictor

Introduction To Online Forex Trading

Today and average person can learn forex trading. The sale or trading of currency is at the heart of what forex is all about. As exchange rates fluctuate and the economies of countries go up and down, these investments in cash behave in value very much like the regular stock market. When you are in the Forex trading market you will find it operates 24 hours a day giving you access to trades when ever you want. Unlike with other markets, such as the stock exchange, you can continue dealing with the currency trading market without worries over it closing at the end of the day. The beauty of forex websites is that they allow you to monitor the market in real time when ever you choose. This really helps in the learning process. You'll also be provided with tools that will help you understand the mechanics of trading. This is a clear advantage because you can hone your trading skills before laying down your own money in the market. When you think of it, the forex firms are training you to become skilled at trading for free by providing guidance, demos and news at no additonal cost. It won't take long to feel comfortable in trading. Soon you'll be making money investing as little as $300. Thanks to the internet, learning the currency market has made it easier for even a regular guy to successfully earn money. Currency representatives, called forex brokers, will most likely provide you with access to the forex market. Similar to stock brokers, forex brokers are there to help. They can consult with you and provide market information and trading strategies. The advice extends to everything needed to become successful trading forex which includes technical analysis and fundamental analysis data. It is only natural that large financial institutions try to monopolize the market because it provides such a solid return on investment. Profitable results are there for the taking even for an individual investor with a few dollars, because of the easy access to the internet. As I stated earlier, the online forex companies have been making powerful free tools available to educate and improve the knowledge of new investors. The best way to choose a forex broker is to decide on what you need at the moment. Many forex internet sites provide a bevy of tools for the beginning trader including detailed research, online trading simulators, and expert technical advice. You will find that some sites offer access to experienced professional forex traders that make themselves available for questions and advice to forex traders at various skill levels. All of these tools are available to beginners to try out. While many people who actively trade today have had to learn to use the tools available on the internet in the midst of doing business, these tools will be second nature to those who will come after them. Future generations of forex traders will know how to use the full power of forex trading tools that are available to them and they will be the most powerful group of investors that any economy in any market has ever seen.

by: Jim Wilson

Forex Trading Guide

Like many people I am sure you are interested to know more about Forex trading. To put it bluntly Forex trading can be either one the best ways to make or lose LOTS of money. Only those who take the Forex market seriously will be able to make money with it in the long term. The Forex trading market is beyond a doubt the world’s largest market where all exchanges happen instantaneously. Thus, trades are a key challenge for even the most knowledgeable Forex bankers and traders. They have to learn and consider many factors before performing even a single trade. At first when currencies began to be traded openly, only large banks were allowed to perform trades. These days, due to the advent of internet trading and margin accounts almost anybody can begin Forex trading. This in turn, has added to the liquidity of the Forex market, and has resulted in a huge increase in the number of individuals who are now active in the market. So, does this mean it is easy to earn money through Forex trading? To answer this we must consider a few things. Some data by Forex brokers seems to suggest that 90 percent of traders end up of losing their capital, 5 percent of traders have been able to break even and only 5 percent of them attain steady beneficial results. Thus, it seems that trading successfully is no simple task. However, if you can learn to be among the 5 percent who make consistent money you can do extremely well by using Forex trading. To help you in this end I have listed five key ways to improve your odds dramatically of making money in the Forex market. 1. Education Successful traders are knowledgeable about the Forex market. They have chosen to educate themselves about every single vital detail of Forex trading. The best traders know that every trade that they perform is an opportunity to learn something new. 2. Forex Trading System All of the profitable traders have a Forex trading system or strategy. Furthermore, they have the will power to stick strictly to that system, because the best traders know that by sticking with their system they stand a far greater chance of earning money. 3. Price Behavior Knowledgeable and successful traders also include price behavior in their systems. They have learned that prices can change quickly and suddenly but are prepared to deal with those situations when they arrive. 4. Trading Psychology First-rate traders are aware of psychological issues that affect the choices of other traders make when Forex trading. They know that people do not always act rationally, and as a result this can alter the expected outcome of a trade. This can help them both when deciding to enter into a trade or when to exit. 5. Money Management This is far and away the most important factor that will determine whether or not you become a successful trader. Averting the hazard of financial ruin is the main concern of all top traders. This means both adequately funding your trading account (only with money you can afford to live without of course) and never entering into trades that can potentially wipe out all of your assets. Better to start trading small and always use stop-loss orders to guarantee that your first trades are not also your last. This is by no means an exhaustive list of everything you need to know but it outlines some of the areas you need to consider before making even that first trade. Now you know that it is not easy to earn money in the Forex market, however it is achievable. However, success does not happen overnight and anyone promising you that it can is trying to sell you snake oil. It is an ongoing processes not something you pick up in a weekend. Trading success depends on the trader, and how hard you are willing to work to achieve your Forex trading goals. Also, remember to try to have some fun. The clearest sign that Forex trading is not for you is if you find the prospect of learning about how the Forex market works boring or dull. If this is the case you won’t stick with it long enough to make money and you will be among the 90 percent who fail. Just remember these three important things: be disciplined in your trading habits, manager your money wisely and enjoy the experience of Forex trading.

by: Ian Wright

Forex Currency Trading – What’s It All About?

These days we hear all kinds of buzz words when it comes to working at home opportunities. But Forex currency trading is definitely a buzz you need to pay attention to. So what’s it all about?
There are many reasons that Forex currency trading an excellent way to enter the capital markets. Thanks to the internet Forex has become very accessible, and because the cost of transactions is low and there are no commissions anyone can get involved in this great opportunity to make money.
As with anything there are good and bad so you need to look for a good Forex broker because they will provide you with a trading account that offers what we just talked about. Some even offer what’s called Mini Forex Traders in which you can begin trading with only $250 capital. Now you have no excuse why not to give it a try?
When you are trading in the Forex markets online there’s no need to concern yourself with any of the usual broker fees and there’s no NFA or SEC fees.
Wondering how the Forex brokers can make money when they are not charging any fees when you trade? They make their money on the bid/ask spread. Good for them and good for you.
Once you decide to learn how to trade on the Forex currency trading market. Like with anything the more practice the better you will become and before long you will be a real Forex trading pro enjoying those profits.
But no one wants to practice and learn by playing with their own money which is why there are many several creative Forex trading simulations online. Just like the real thing with one thing missing – your real money.
When you’re confident in your skill level flip to the real Forex currency trading and enjoy that adrenaline rush when you reap those big profits.

Fundamental or Technical analysis: which one is for you?

The fundamental analyst in Forex attempts to draw overall conclusions concerning the economic health of a particular economy based on political, social and economic indicators. Based on these conclusions, fundamental analysts determine whether a particular currency is over or undervalued, and trade accordingly.While fundamental analysis is useful in determining the overall health of an economy, the number of factors contributing to the health of an economy may condemn the fundamental trader to a life of constant analysis. And while, when a conclusion is drawn, a fundamental analyst can confidently hold a long term position, some might say they are missing out on other profitable opportunities.Unlike the Fundamental analyst, Technical analysts believe that all the forces impacting currency price are instantly factored into the market. Eschewing news trading, the technical analyst attempts to construct forecast models for particular currencies based on previous market activity, as reflected in the charts.There are certain patterns that continuously appear in online Forex movements, and if a particular pattern can be recognized before it is complete, online traders can make substantial profit.Beneath the sound and fury of seemingly arbitrary price fluctuations, the technical analysts locates identifiable patterns in the charts. Certain patterns that continuously appear in currency movements—such as head and shoulders, ascending and descending triangles, and wedges, to name a few—and technical traders look for these in order to identify entry and exit points.Some brokerages provide complimentary advanced charting features, complete with dozens of indicators and tools used to aid in technical analysis.

Whither the dollar?

Strong U.S. consumer price data led to a lower than expected federal reserve interest rate cut, causing the strongest one-day dollar rally against the Euro since May, 2005. By the end of the day Friday the 14th, the Euro fell 1.5 percent to 1.4412, the lowest it has been since October. This is the third week in a row that the dollar has rallied against major currencies.Strong consumer spending reports have served to partially abate worries that the mortgage crisis would force the US economy into a recession, and widespread inflationary concerns would seem to point to a continued conservative approach to interest rate cuts by the feds, which is more good news for the greenback.Many analysts are now predicting the dollar rally will continue in the short term, fingering 1.43—or even 1.40—as reasonable support levels. Moreover, there has been a rising chorus of voices saying that the dollar will rebound in 2008, due to shrinking budget and trade deficits. If we are correct in assuming that the Fed will be conservative in cutting interest rates, this will lead to an increased international appetite for investment in the US market, creating greater demand for the dollar.On the other hand, we are wary that the dollar rally is simply a correction, rather than a trend reversal. Furthermore, we would not be surprised to see another test of the $1.50 level in the short term, even if prospects for the dollar are good in 2008.

Understanding The Forex Trading Market

If you’ve invested in the stock market you know what a rush it can be when you come out with profits. The currency markets are much different than the stock market but the rush is even bigger. You’ll want to understand the Forex trading market to help you ensure success.
Forex is short for the Foreign Currency Exchange Market which is also referred to as FX. It is by far the largest market on the planet turning over more than a trillion US dollars a day. That’s thirty times more than the entire volume of all the equity markets in the United States.
What makes the Forex trading market so unique is that it does not have an actual physical location, nor does it have a central exchange. An over the counter market services banks, investors, corporations, and individuals whether they are buying or selling. This is a great example of a true 24 hour market.
Each morning in Sydney the Forex trading market begins, moving around the planet as the business day opens in each of the financial centers – First it goes to Tokyo, then on to London, and then New York.
When dealing on the Forex trading market you can analyze the currency market using either the technical analysis approach or the fundamental analysis.
The technical analysis is used when one wishes to attempt to predict what the future movement is going to be on a specific currency based on past performance. It entails studying specific factors that can influence a currency. These factors cold be changes in a Government, a war, a crisis, or several specifics that influence supply and demand which is reflected in the market price.
Fundamental analysis is also referred to as current accounts. They measure the net of imports and exports in any one country and the records the subsequent impact on the currency flows.
When it comes to currency trading there is no doubt that Forex or FX is the largest market in the world. Just about every industry is somehow involved in currency trading – banks, multinational corporations, central banks, governments, financial institutes, retail traders, and a variety of institutions all in one way or another directly or indirectly play in the currency market.
Thanks to technology an individual can now set up a Forex trading account and begin to trade without any involvement with a bank or trading institute. There are several excellent online forex trading sites where you can get involved with the Forex trading market and begin trading on your own. The big question is are you ready for the rush when you sell high?

The Foreign Exchange

The Foreign Exchange is the largest financial market in the world, with trillions of dollars traded each and every day. Initially utilized just by large banks, multinational corporations and extremely wealthy currency speculators, the influx of online brokerages tailored to the retail market has created a vibrant retail foreign exchange market! Now, with a relatively small initial investment, anyone with an internet connection can take advantage of the online Forex market.While banks and large multinational corporations generally execute foreign exchange transactions simply as a function of doing international business or to hedge their base currency to protect against devaluation, currency speculators exploit fluctuations in the foreign exchange market exclusively for profit. While trading currencies is a bit riskier than trading other instruments, like stocks and commodities, the potential for profit is unparalleled. For example George Soros, perhaps the most successful Forex trader, made $1 billion in a single day when he sold the pound against the dollar in 1992.The major currencies traded on the foreign exchange are the US dollar, the Eurodollar, the Japanese Yen, the Swiss Franc, and the British Pound. These different currencies are expressed as pairs. When these pairs are traded, one of the currencies is bought and the other currency is sold concurrently. Today, anyone with an internet connection can trade these pairs under the same conditions once reserved for high value individuals and corporations. Most retail brokerages offer real time currency prices, instant execution, advanced charting features and extensive real time news and analysis feeds.If you are interested in trying out the foreign exchange, we have assembled a list of quality brokerages that offer free “fake money” accounts where one may trade in real market conditions. Not only is their immense profit potential in the Foreign Exchange market, it is quite exhilarating as well. Why not give it a shot?

How To Choose The Right Forex Trading System For You

When it comes to trading systems that you can use to trade on the Forex market you have plenty of options but it’s very important to choose the right Forex trading system for you.
Some may find fundamental factors easier to take while others will do better with technical indicators. Everyone is different and which system isn’t important – what is important is matching individual to system. So how do you find the right system?
Well it starts with you understanding the methods of analysis that are used when you are trading on the Forex currency market. When you know what the tools are and how to use them you can analyze what is best for you.
Some of the most popular technical analysis tools include pivot points, Fibonacci retraces, chart patterns, candlestick patterns, trade balances, interest rates, and GDP which stands for gross domestic product.
You will need to determine the profitability of the Forex trading system you are considering choosing. Use a real time demo to determine how profitable a trading system is. This lets you begin to understand what the system’s capabilities are and it also let’s you become familiar with the trading platform.
Next you need to have a look at the expectancy which tells you what type of profits you expect to make over a period of time. You calculate expectancy using this simple formula:(Probability of winning × average win) – (Probability of losing × average loss) = the average profit per trade. If this number is a negative number you need to look at a different Forex trading system. Of course the higher the number the better the profits you can expect.
You should also examine the opportunity factor which is just how often you can expect to trade using the trading system. You multiply your expectancy figure with the opportunity factor and it tells you how much you can expect to profit during a specific time period. The more opportunity the more profit you can expect to put in your pocket.
Now that you know how to choose the right Forex trading system for you to reap the most profitability.

How do I get started in Forex?

Do you see the profit potential in trading currencies, but learning to trade just seems too daunting? Have you watched with excitement the recent crashing of the value of the USD, but simply don’t know how to get started trading?

While it is simple to begin trading Forex online, maintaining profitability in the long term is no easy task. You have probably heard that 90% of Forex traders lose their money in the long term. If indeed this is true, it is the result of a couple of different factors.

1- Overtrading: Each trade costs you a couple of pips—Consider your trades well befor make them. Each faulty trade, even if exited quickly, drains equity.

2- Bad money management: One bad trade can wipe out a year of patient, smart

trading. Manage your risk using stop loss orders, so that you never

risk too high a percentage of your equity on any one single trade.

3- Lack of knowledge: If you have never traded Forex before, educate yourself!

Successful traders are not born that way. The difference between success and

failure in the Forex market depends in no small part on the knowledge and

education of a trader. For the beginning trader, a proper education is essential

before investing in the Foreign Exchange. Find a program you are comfortable

with, and begin practicing on a demo account.

Trading on the foreign exchange offers unparalleled opportunities for profit, but it is also extremely risky. Make sure you know what you are getting into before you start trading, and start trading only when you are comfortable in your knowledge and ability.