Is Peter Bain really the man?
Find out as we review the Forex Mentor training course
We all need a helping hand now and again, when you first got in to a car youneeded someone to teach you how to drive it. Trading Forex online is no different, before you can 'drive' the Forex market for substantial profits you need a helping hand to get you started in the right direction.
That is where a course like Peter Bains Forex Mentor comes in. The problem all Forex traders face when choosing a course is knowing which one really is the best. Every Forex training course claims to be able to make you rich quick, every Forex course claims to be better than the rest.
Do these courses really live up to their promises? Most do not that is why it is important to read up on other people opinions of courses before you take the plunge.
Peter Bains Forex Mentor is one of the most respected currency exchange courses anywhere. It is so popular that Peter holds his own live seminars all over the World, from the US to the UK to Australia and thousands of people pay to learn from the man who many people consider to be the holy grail of profitable Forex trading.
The question is, why does Peter have such an amazing following? Can he really teach so many people to be better traders? Let me put it this way, a following of this kind does not come from passing on weak, inaccurate information.
So lets have a look at the widely respected online Forex Mentor course that Peter runs. After all, whilst live seminars are great for meeting new people and learning together, nothing beats the convenience and ease of being taught from home.
First I must comment on just how in-depth Peters course is. Many training courses will only give you a set amount of information and leave you to it. Forex Mentor not only provides you with hours and hours of DVD quality footage but you also get access to new lessons, trading reviews, and pivot analysis on a daily basis as part of your membership. This is on top of the massive 20+ hours of video tuition!
This is absolutely crucial since learning is an ongoing thing - you can never know too much about foreign exchange trading! The benefit you will get from this constant stream of educational material is that you will always be ahead of the game and you will never need to buy another Forex training course ever again, saving you both time and money whilst also making you a far more profitable Forex trader than you ever imagined.
Lets summarize exactly what you will get when you join Forex Mentor:
250 Page Interactive Forex Technical Manual
20+ Interactive Video Tutorials
100 Page Forex Core Principles Manual
2 Exclusive DVDs Containing Over 3 Hours of Live Instruction
6 Months Unlimited Access to Peters VIP Members Area
3 Amazing Bonuses Worth Over $450!
30 Day Money Back Guarantee
This is the kind of offer that you almost feel bad accepting, you are getting an incredible amount of information for your money. When you think that the knowledge you will gain can help you become a massively profitable trader, you know that you will recoup the cost of the course many times over in a matter of months.
It is this massive earning potential that makes this course a no-brainer for anyone serious about making money from online Forex trading. It will give you confidence to take on those trades that you have always shied away from and then realized you made a big mistake and missed out on a massive profit opportunity.
Ok so, you know you are getting amazing value for money and more knowledge than many people who have been trading for years but what about the actual quality and ease of use?
Forex Mentor can make you far more money
then you ever thought possible!
Let me be honest with you, I bought the Forex Mentor course last year when I was just starting out in Forex trading. I knew very little about currency trading let alone how to make money from it. I was worried the course was above my understanding, that it would be far too technical for me to ever grasp fully, still I decided the offer was too good to refuse so I joined up.
I dread to think what would have happened if I hadn't. The course was perfectly laid out so that whether you are a complete newbie or a seasoned veteran you would not only understand the course but also take away a vast knowledge with the minimum of effort. It is this easy to use yet incredibly powerful recipe that means this course is perfect for you, I don't care if you have never traded Forex before or you have been trading for years - this course WILL help you!
After just an hour or so of reading the manual and viewing the tutorials I felt like I had read 10 books on trading and I felt like I had been trading for years. It all made sense, I couldn't believe I found Forex trading so confusing when I first started. A few months down the line and I was making such a significant amount of money trading Forex that I was able to give up my day job and start trading full-time from the luxury of my own front room.
What you will learn from this video forex course:
Why the Forex is the perfect trading market
How to implement the Pivot system used by floor traders
How to gauge price action with powerful filters
Learn how the Euro puts $700 on the table daily
How to use MACD to confirm price action
How to use the system to trade with up to 70% accuracy
How to use futures data to predict Forex trends
How to hedge your trade
How to recognize "iron-clad" signals and profit big time!
How to avoid the pitfalls of "dumb money"
How to implement stop loss strategies to protect your money
How to use winning chart patterns in conjunction with pivots.
Supports and Resistances: how to trade them in the Forex
How to follow daily steps for success
How to recognize false buy/sell signals
You will gain a trading edge!
Put simply, this course can change your life and when you think Peter is only charging $495 for a course that is better than most courses costing $2,000+ (trust us, we found out the hard way!) this is an amazing opportunity that cannot be turned down unless you are happy to carry on making minimal profit from online Forex.
Remember every Forex Mentor purchase is covered by a 30 day money back guarantee so you can buy with no risk.
I am not sure how much longer Peter will carry on accepting new members on to his Forex Mentor course, I know that most courses like this only accept a certain number of members before closing the doors to the general public.
This is simply because most genius traders do not want to let too many in on their trading secrets otherwise they have less time to actually trade as they get bogged down with too much paperwork.
Therefore my advice to you is that if you really are serious about making a living from trading Forex then you must act today and join Forex Mentor while you still have the chance. You can make the cost of the course back extremely quickly and so you should view this as a free education in becoming a professional currency trader.
Click here to sign up to Forex Mentor today before it's too late!
Sunday, August 23, 2009
The Ins And Outs Of An Online Forex Trading Platform
If you are as confused as I was when I started trading currency on the foreign exchange (forex), than this article will do wonders for you. From facts on the forex to the best online forex trading platform, your questions will be answered.
If you are as confused as I was when I started trading currency on the foreign exchange (forex), than this article will do wonders for you. From facts on the forex to the best online forex trading platform, your questions will be answered.
Ok, let's go over some of the basics. What is the forex? Well, forex, the word is simply a combination of the phrase FOReign Exchange. That's it, you're ready to trade. Oh, you want more? The forex market is an electronic market where the currency of different countries are traded.
In actuality, you are trading the value of currency A vs. the value of currency B. Although you can combine any two currencies to form a currency pair, there are four currency pairs that are considered the major pairs.
They are: EUR/USD (Euro/Dollar), GBP/USD (Pound/Dollar), USD/JPY (Dollar/Yen), USD/CHF (Dollar/Franc). You can spend your entire currency trading career trading just one of those pairs.
Now for some interesting facts about the foreign exchange (forex) market. It is over 30 times as large as any other financial market. Remember this fact, we will be touching on it again later. The forex market is open 24 hours a day 5 days a week. This is a great feature as it allows you to partake in the business of currency trading regardless of where in the world you are.
Back to the size of the forex for a second. Due to this attribute, the foreign exchange market provides currency traders with opportunities that do not exist on any other trading tool. Although this article is not being written to get into too much detail about this, I'll give you an example. There is no slippage on Stop orders during regular trading hours. If you are not sure what this means, I strongly suggest you spend some time looking it up. This is a quality that, by itself, separates the forex from all other markets.
So, now we get to the nuts and bolts of this article. What is an online forex trading platform?
Truth is, whether you are doing your own trading, following some form of forex trading alert or any other sort of forex trading system you are going to need an online forex trading platform.
Regardless of which forex broker you choose, you will be provided with some form of online forex trading platform. Usually, the trading platform will be the same whether you are trading mini contracts or full contracts.
What should an online forex trading platform provide?
Firstly, you should be able to see the value of your account at a quick glance. Also, you should be able to see how much money you have in the market and in what currency pair at any given time.
Secondly, the value of all currency pairs of interest to you should be right at your fingertips. This means that you should be able to define which currency pairs you want to have access to and you should be able to choose the look and feel of the quotes.
Thirdly, an order entering system should be easy to find and easy to use so that you can make quick reactions when you see an opportunity present itself. When you see a 20 pip reward and a 10 pip risk trade, you don't want to be fumbling around with your mouse or keyboard, you just want to trade.
In a very small nutshell, that's it. Those are the three things that an online forex trading platform needs to offer. If you have those than currency trading on the foreign exchange (forex) is only a few clicks away.
If you are as confused as I was when I started trading currency on the foreign exchange (forex), than this article will do wonders for you. From facts on the forex to the best online forex trading platform, your questions will be answered.
Ok, let's go over some of the basics. What is the forex? Well, forex, the word is simply a combination of the phrase FOReign Exchange. That's it, you're ready to trade. Oh, you want more? The forex market is an electronic market where the currency of different countries are traded.
In actuality, you are trading the value of currency A vs. the value of currency B. Although you can combine any two currencies to form a currency pair, there are four currency pairs that are considered the major pairs.
They are: EUR/USD (Euro/Dollar), GBP/USD (Pound/Dollar), USD/JPY (Dollar/Yen), USD/CHF (Dollar/Franc). You can spend your entire currency trading career trading just one of those pairs.
Now for some interesting facts about the foreign exchange (forex) market. It is over 30 times as large as any other financial market. Remember this fact, we will be touching on it again later. The forex market is open 24 hours a day 5 days a week. This is a great feature as it allows you to partake in the business of currency trading regardless of where in the world you are.
Back to the size of the forex for a second. Due to this attribute, the foreign exchange market provides currency traders with opportunities that do not exist on any other trading tool. Although this article is not being written to get into too much detail about this, I'll give you an example. There is no slippage on Stop orders during regular trading hours. If you are not sure what this means, I strongly suggest you spend some time looking it up. This is a quality that, by itself, separates the forex from all other markets.
So, now we get to the nuts and bolts of this article. What is an online forex trading platform?
Truth is, whether you are doing your own trading, following some form of forex trading alert or any other sort of forex trading system you are going to need an online forex trading platform.
Regardless of which forex broker you choose, you will be provided with some form of online forex trading platform. Usually, the trading platform will be the same whether you are trading mini contracts or full contracts.
What should an online forex trading platform provide?
Firstly, you should be able to see the value of your account at a quick glance. Also, you should be able to see how much money you have in the market and in what currency pair at any given time.
Secondly, the value of all currency pairs of interest to you should be right at your fingertips. This means that you should be able to define which currency pairs you want to have access to and you should be able to choose the look and feel of the quotes.
Thirdly, an order entering system should be easy to find and easy to use so that you can make quick reactions when you see an opportunity present itself. When you see a 20 pip reward and a 10 pip risk trade, you don't want to be fumbling around with your mouse or keyboard, you just want to trade.
In a very small nutshell, that's it. Those are the three things that an online forex trading platform needs to offer. If you have those than currency trading on the foreign exchange (forex) is only a few clicks away.
Tuesday, July 7, 2009
Forex Trading Signals - The Rise of the Forex Trading Machine
Forex trading
seems like it gets a reputation as intimidating and difficult for new traders when that should hardly be the case. You can understand how that perception comes about as billions of dollars are changing hands everyday, but as long as you arm yourself with the proper tools, anyone can not only compete, but succeed. A weapon to use to make things a little fairer are using a forex trading machine that generates accurate forex trading signals.
The are several great features in using forex trading machine or robots to generate forex signals. First, you can have them automatically sent you when they happen. You can do this via text message or email. You can also have your account set up so that the moment a certain signal occurs, you trigger a trade.
Most of these services are based on some type of program that will pick up a certain scenario that you are looking for. These programs basically crunch the hard numbers for you and let you know when a potentially profitable situation is occurring. These occurrences are trends that have provided profits time and time again. Now with this software, you don't have to know the information inside and out, but you should have some type of understanding of it to so you can get the most out of your investment.
If you are looking to spend a lot of money for a program, you will not be disappointed with the options that are available to you. However, believe it or not, there is plenty of quality programming that you can get absolutely free. One such program is using the Expert Advisr in a free forex trading software called MetaTrader.
Regardless of what software program you decide to you with, make sure you are using one that will use the candlestick format for plotting currency prices. This is the best way for viewing patterns that develop in a variety of fashions. This quickly spots both 'resistance' and 'support' positions.
If you are not familiar with this terminology, a support position is basically the low point or floor level of the currency. This is where it is expected to stop and then head back up. It is quite obvious now that resistance is what will send it right back down or the ceiling of the currency. This will be the highpoint at which you have maximized your profits. These two forex signals will often be the key to success for any good trader.
While this software is a great training tool, it is also a much better way to trade then trying to sit their and analyze charts. Don't misunderstand, you are still going to have plenty of traders that will insist that the only way they will make a trade is if they come up with the trend themselves. This presents a problem as it will often take them too long to find a trend and then they are missing out on the best part of the profit. They may still get in on it, but by the time they do get there, the software has you in and raking in the profits. Utilizing software to recognize Forex trading signals can be the difference in being a good trader and a great one.
As you are deciding on a company's software to use, make sure that it is linked from their home page as that is a sign of a reputable company. There are plenty of scams out there, so make sure you avoid them.
Okay, now you have some more great information on getting into forex trading so it is time to start raking in some profits!
seems like it gets a reputation as intimidating and difficult for new traders when that should hardly be the case. You can understand how that perception comes about as billions of dollars are changing hands everyday, but as long as you arm yourself with the proper tools, anyone can not only compete, but succeed. A weapon to use to make things a little fairer are using a forex trading machine that generates accurate forex trading signals.
The are several great features in using forex trading machine or robots to generate forex signals. First, you can have them automatically sent you when they happen. You can do this via text message or email. You can also have your account set up so that the moment a certain signal occurs, you trigger a trade.
Most of these services are based on some type of program that will pick up a certain scenario that you are looking for. These programs basically crunch the hard numbers for you and let you know when a potentially profitable situation is occurring. These occurrences are trends that have provided profits time and time again. Now with this software, you don't have to know the information inside and out, but you should have some type of understanding of it to so you can get the most out of your investment.
If you are looking to spend a lot of money for a program, you will not be disappointed with the options that are available to you. However, believe it or not, there is plenty of quality programming that you can get absolutely free. One such program is using the Expert Advisr in a free forex trading software called MetaTrader.
Regardless of what software program you decide to you with, make sure you are using one that will use the candlestick format for plotting currency prices. This is the best way for viewing patterns that develop in a variety of fashions. This quickly spots both 'resistance' and 'support' positions.
If you are not familiar with this terminology, a support position is basically the low point or floor level of the currency. This is where it is expected to stop and then head back up. It is quite obvious now that resistance is what will send it right back down or the ceiling of the currency. This will be the highpoint at which you have maximized your profits. These two forex signals will often be the key to success for any good trader.
While this software is a great training tool, it is also a much better way to trade then trying to sit their and analyze charts. Don't misunderstand, you are still going to have plenty of traders that will insist that the only way they will make a trade is if they come up with the trend themselves. This presents a problem as it will often take them too long to find a trend and then they are missing out on the best part of the profit. They may still get in on it, but by the time they do get there, the software has you in and raking in the profits. Utilizing software to recognize Forex trading signals can be the difference in being a good trader and a great one.
As you are deciding on a company's software to use, make sure that it is linked from their home page as that is a sign of a reputable company. There are plenty of scams out there, so make sure you avoid them.
Okay, now you have some more great information on getting into forex trading so it is time to start raking in some profits!
Monday, July 6, 2009
Four Great Reasons to Trade Forex
This may be the first time that you have considered looking at trading in the Forex market. It may even be the first time you have come across the term Forex and want to know what it actually is. The purpose of this article is to give an introduction into the Forex market and look at why you should consider trading on this market.
The Forex market is completely different today than it was 30-40 years ago. Its changed markedly even over the last 10 years. If you are going to trade on the Forex, I highly recommend that you use one of the software tools that are available in the market and don't directly trade with one of the many trading accounts otherwise I guarantee you will lose money.
So, why would you consider trading on the Forex market? There is actually not one but 3 or 4 good reasons! The first reason is that this market, unlike any other market is trading 24 hours per day. This means that there is plenty of trading opportunity no matter where you are in the world. No matter what time zone you are in you will have access to the Forex market 24 hours per day between Sunday evening and Friday afternoon.
The second main reason for trading on this market is its liquidity. And what this means is the amount of trades that take place and also the volume that is traded. This will astound you! Based on figures for 2007, $3.2trn per day, that's 3.2 Trillion Dollars is traded on the Forex Market every day around the world.
The third reason for trading on the Forex market is the narrow spreads, which is the difference between "buy" and "sell" price, commonly known as the bid and offer. But what does this mean? Well, because of the "liquidity" and the number of people that trade this market, these spreads as they are known are extremely narrow.
The fourth reason for trading is the "volatility" of the market. Do not let this frighten you, this is good because it relates to price movements and it is these price movements that generate profits. One thing you need to know is that there are certain times of the day where there is greater volatility. It also depends on what currencies you are going to trade. There are some currencies that are more volatile than others.
In the Forex market you are basically betting one currency against another and if you have already looked into this market you will see that you are looking to buy or sell currencies in pairs. For example the US Dollar against The British Pound, or the US Dollar against the Euro. There isn't an unlimited combination of these currencies but there are common pairs, some as mentioned earlier, more volatile than others i.e. there will be more price movement during the trading period, up and down.
I have been trading the Forex market for quite some time now and I would advise that you obtain a software program that lets you trade the market whilst taking out the guess work. Remember that unless you have been trading the Forex for many years and can read the market trends you are more than likely going to be one of the many losers out there.
There are a number of products out there and some can be as much as $4000. I'd seriously consider looking at the software provided by the guys at the following site, particularly if you are new to the Forex. The best part is that it's less than $100 and comes with a money back guarantee. So what's the risk, get into trading the Forex now and earn yourself some easy $'s.
The Forex market is completely different today than it was 30-40 years ago. Its changed markedly even over the last 10 years. If you are going to trade on the Forex, I highly recommend that you use one of the software tools that are available in the market and don't directly trade with one of the many trading accounts otherwise I guarantee you will lose money.
So, why would you consider trading on the Forex market? There is actually not one but 3 or 4 good reasons! The first reason is that this market, unlike any other market is trading 24 hours per day. This means that there is plenty of trading opportunity no matter where you are in the world. No matter what time zone you are in you will have access to the Forex market 24 hours per day between Sunday evening and Friday afternoon.
The second main reason for trading on this market is its liquidity. And what this means is the amount of trades that take place and also the volume that is traded. This will astound you! Based on figures for 2007, $3.2trn per day, that's 3.2 Trillion Dollars is traded on the Forex Market every day around the world.
The third reason for trading on the Forex market is the narrow spreads, which is the difference between "buy" and "sell" price, commonly known as the bid and offer. But what does this mean? Well, because of the "liquidity" and the number of people that trade this market, these spreads as they are known are extremely narrow.
The fourth reason for trading is the "volatility" of the market. Do not let this frighten you, this is good because it relates to price movements and it is these price movements that generate profits. One thing you need to know is that there are certain times of the day where there is greater volatility. It also depends on what currencies you are going to trade. There are some currencies that are more volatile than others.
In the Forex market you are basically betting one currency against another and if you have already looked into this market you will see that you are looking to buy or sell currencies in pairs. For example the US Dollar against The British Pound, or the US Dollar against the Euro. There isn't an unlimited combination of these currencies but there are common pairs, some as mentioned earlier, more volatile than others i.e. there will be more price movement during the trading period, up and down.
I have been trading the Forex market for quite some time now and I would advise that you obtain a software program that lets you trade the market whilst taking out the guess work. Remember that unless you have been trading the Forex for many years and can read the market trends you are more than likely going to be one of the many losers out there.
There are a number of products out there and some can be as much as $4000. I'd seriously consider looking at the software provided by the guys at the following site, particularly if you are new to the Forex. The best part is that it's less than $100 and comes with a money back guarantee. So what's the risk, get into trading the Forex now and earn yourself some easy $'s.
Thursday, July 2, 2009
Learn To Trade Forex - Ignore This And You Will Fail In Forex
If you want to learn to trade forex, there are a few ways to get involved in this flourishing market. First, you may be asking, what is forex? Forex is short for 'foreign exchange' and is essentially the business of exchanging one currency for another and in the process making a profit due to shifting exchange rates. If you want to get involved there are three good ways to go about it: taking an online course, taking a classroom course, or finding a mentor.
Option 1 - Online Courses
If you would like to learn at your own pace from your home computer, then an online course is the best option for you. Be warned, though; as with everything else, there are plenty of scam artists out there that are claiming to teach you all about forex, but have little real experience. Oftentimes these folks have made all their money selling courses, not on the foreign exchange market. AS a result, you are getting faulty or diluted information that will do you no good. The best thing you can do is look for some reviews from reliable sources, i.e. sources that are in no way affiliated with any forex trading course. These reviews can point you in the right direction.
Option 2 - Classroom Courses
For many of us, when we think of learning, we rightly think of colleges or universities. For many though, this is a very intimidating prospect, especially if we consider ourselves 'long done' with school. Rest assured, though, that there are options for those of us that are way past our college years. See if you can find out what sort of classes are offered at your local university's business school and see what they have available. If none of their course are specialized enough, you may be able to find a course at a community center or the like that is more specialized in forex trading.
Option 3 - Find A Mentor
The very best option you have is to find a mentor. A mentor is someone that has 'been there, done that' when it comes to forex trading. This person can take you under their wing and show you the ropes, if they are so inclined. When looking for a mentor, the best thing you can do is be their friend. You want to appear to be friendly and eager to learn, not looking to steal their thunder. You want to foster a relationship that will last for many years, with any luck. Your mentor can give you a real persons perspective on forex trading, not the perspective of a guy that is looking to make a quick buck off you. Having said that there are genuine forex trading system and tools which can assist you once you grasp the basics.
Conclusion
At the end of the day, only you can decide what way works best for you when it comes to learning about forex training, but the three ways mentioned are the best paths for you to choose from. If you can manage to find a mentor and take a course (online or classroom), then you will be home free. If you want to learn to trade forex, start looking around today and find out what option you think will work best for you!
Option 1 - Online Courses
If you would like to learn at your own pace from your home computer, then an online course is the best option for you. Be warned, though; as with everything else, there are plenty of scam artists out there that are claiming to teach you all about forex, but have little real experience. Oftentimes these folks have made all their money selling courses, not on the foreign exchange market. AS a result, you are getting faulty or diluted information that will do you no good. The best thing you can do is look for some reviews from reliable sources, i.e. sources that are in no way affiliated with any forex trading course. These reviews can point you in the right direction.
Option 2 - Classroom Courses
For many of us, when we think of learning, we rightly think of colleges or universities. For many though, this is a very intimidating prospect, especially if we consider ourselves 'long done' with school. Rest assured, though, that there are options for those of us that are way past our college years. See if you can find out what sort of classes are offered at your local university's business school and see what they have available. If none of their course are specialized enough, you may be able to find a course at a community center or the like that is more specialized in forex trading.
Option 3 - Find A Mentor
The very best option you have is to find a mentor. A mentor is someone that has 'been there, done that' when it comes to forex trading. This person can take you under their wing and show you the ropes, if they are so inclined. When looking for a mentor, the best thing you can do is be their friend. You want to appear to be friendly and eager to learn, not looking to steal their thunder. You want to foster a relationship that will last for many years, with any luck. Your mentor can give you a real persons perspective on forex trading, not the perspective of a guy that is looking to make a quick buck off you. Having said that there are genuine forex trading system and tools which can assist you once you grasp the basics.
Conclusion
At the end of the day, only you can decide what way works best for you when it comes to learning about forex training, but the three ways mentioned are the best paths for you to choose from. If you can manage to find a mentor and take a course (online or classroom), then you will be home free. If you want to learn to trade forex, start looking around today and find out what option you think will work best for you!
Sunday, June 28, 2009
Four Great Reasons to Trade Forex
This may be the first time that you have considered looking at trading in the Forex market. It may even be the first time you have come across the term Forex and want to know what it actually is. The purpose of this article is to give an introduction into the Forex market and look at why you should consider trading on this market.
The Forex market is completely different today than it was 30-40 years ago. Its changed markedly even over the last 10 years. If you are going to trade on the Forex, I highly recommend that you use one of the software tools that are available in the market and don't directly trade with one of the many trading accounts otherwise I guarantee you will lose money.
So, why would you consider trading on the Forex market? There is actually not one but 3 or 4 good reasons! The first reason is that this market, unlike any other market is trading 24 hours per day. This means that there is plenty of trading opportunity no matter where you are in the world. No matter what time zone you are in you will have access to the Forex market 24 hours per day between Sunday evening and Friday afternoon.
The second main reason for trading on this market is its liquidity. And what this means is the amount of trades that take place and also the volume that is traded. This will astound you! Based on figures for 2007, $3.2trn per day, that's 3.2 Trillion Dollars is traded on the Forex Market every day around the world.
The third reason for trading on the Forex market is the narrow spreads, which is the difference between "buy" and "sell" price, commonly known as the bid and offer. But what does this mean? Well, because of the "liquidity" and the number of people that trade this market, these spreads as they are known are extremely narrow.
The fourth reason for trading is the "volatility" of the market. Do not let this frighten you, this is good because it relates to price movements and it is these price movements that generate profits. One thing you need to know is that there are certain times of the day where there is greater volatility. It also depends on what currencies you are going to trade. There are some currencies that are more volatile than others.
In the Forex market you are basically betting one currency against another and if you have already looked into this market you will see that you are looking to buy or sell currencies in pairs. For example the US Dollar against The British Pound, or the US Dollar against the Euro. There isn't an unlimited combination of these currencies but there are common pairs, some as mentioned earlier, more volatile than others i.e. there will be more price movement during the trading period, up and down.
I have been trading the Forex market for quite some time now and I would advise that you obtain a software program that lets you trade the market whilst taking out the guess work. Remember that unless you have been trading the Forex for many years and can read the market trends you are more than likely going to be one of the many losers out there.
There are a number of products out there and some can be as much as $4000. I'd seriously consider looking at the software provided by the guys at the following site, particularly if you are new to the Forex. The best part is that it's less than $100 and comes with a money back guarantee. So what's the risk, get into trading the Forex now and earn yourself some easy $'s.
The Forex market is completely different today than it was 30-40 years ago. Its changed markedly even over the last 10 years. If you are going to trade on the Forex, I highly recommend that you use one of the software tools that are available in the market and don't directly trade with one of the many trading accounts otherwise I guarantee you will lose money.
So, why would you consider trading on the Forex market? There is actually not one but 3 or 4 good reasons! The first reason is that this market, unlike any other market is trading 24 hours per day. This means that there is plenty of trading opportunity no matter where you are in the world. No matter what time zone you are in you will have access to the Forex market 24 hours per day between Sunday evening and Friday afternoon.
The second main reason for trading on this market is its liquidity. And what this means is the amount of trades that take place and also the volume that is traded. This will astound you! Based on figures for 2007, $3.2trn per day, that's 3.2 Trillion Dollars is traded on the Forex Market every day around the world.
The third reason for trading on the Forex market is the narrow spreads, which is the difference between "buy" and "sell" price, commonly known as the bid and offer. But what does this mean? Well, because of the "liquidity" and the number of people that trade this market, these spreads as they are known are extremely narrow.
The fourth reason for trading is the "volatility" of the market. Do not let this frighten you, this is good because it relates to price movements and it is these price movements that generate profits. One thing you need to know is that there are certain times of the day where there is greater volatility. It also depends on what currencies you are going to trade. There are some currencies that are more volatile than others.
In the Forex market you are basically betting one currency against another and if you have already looked into this market you will see that you are looking to buy or sell currencies in pairs. For example the US Dollar against The British Pound, or the US Dollar against the Euro. There isn't an unlimited combination of these currencies but there are common pairs, some as mentioned earlier, more volatile than others i.e. there will be more price movement during the trading period, up and down.
I have been trading the Forex market for quite some time now and I would advise that you obtain a software program that lets you trade the market whilst taking out the guess work. Remember that unless you have been trading the Forex for many years and can read the market trends you are more than likely going to be one of the many losers out there.
There are a number of products out there and some can be as much as $4000. I'd seriously consider looking at the software provided by the guys at the following site, particularly if you are new to the Forex. The best part is that it's less than $100 and comes with a money back guarantee. So what's the risk, get into trading the Forex now and earn yourself some easy $'s.
Forex Trading Secrets Exposed - 3 Lessons From Professional Forex Traders on Forex Trading
Almost 90% of the part time traders that I know of want to become full time forex traders in the near future. And they hope to be professional traders one day. That is the dream for most forex traders. What about you?
In order to survive in the forex trading world and make lots of money from the forex market consistently, being a normal forex trader is not good enough - you'll need to become a professional forex trader. So just what are the secrets that professional forex traders have that enable them to make lots of money trading forex? I once had a conversation with a friend of mine, who is a professional trader. He shared with me the 3 secrets that make professional traders like him very rich:
Secret #1 - Professional traders are not geniuses- they simply follow a simple forex trading system
You see it correctly, they are not any smarter than you nor do they possess of any god-like foresight in forex trading. I dare to say this because I know some professional forex traders who seem to know nothing in this world and clumsy in doing other stuffs but can do extremely well in forex trading. Why is that so?
It's simply because they have a successful forex trading system which gives them good forex trading signals. It helps them trade consistently. What they have to do is to repeat the consistency just by following the trading system. That's about all. And let me tell you a little more secret, professional traders use simple forex trading systems instead complicated, as what most people thought.
Secret #2 - Learn to work smart, not hard
Do you think that you should learn how to trade forex the hard way and gain all the knowledge before you can be successful? Do you think you can master the forex market if you combine all the strategies taught by every forex trading experts? If your answer is yes, you are wrong. In other businesses, you may get rewarded for all the efforts and time you have put into.
But in forex trading, it's the right forex trading tutorials and education that count and you are rewarded for being accurate and not so much for the effort you put in. You will be surprised to know that successful traders only follow a winning trading system blindly to build up their trading capital.
Secret #3 - They possess determination, discipline, money management and mindset for success
My professional forex trader friend once told me that he would leave everything aside just to concentrate on his forex trading. It's his determination to succeed that made him overcome small losses and steep learning curves that he experienced in the beginning. He told me the problem with most traders is that they are too eager to trade and make money fast from the forex market.
You need to have discipline to follow the rules of your forex trading system. Huge capital gains in forex are piled up over years and not days, there is no shortcut to riches. He manages his money so well that even 2 or 3 losses in a row will not affect his trading capital much. 1% or even 0.5% of his capital margin per trade is what he is only willing to risk.
Not everyone can be a professional trader in a short period of time as you need huge capital, but anyone can become successful in forex trading if you learn how to trade forex the professional way.
In order to survive in the forex trading world and make lots of money from the forex market consistently, being a normal forex trader is not good enough - you'll need to become a professional forex trader. So just what are the secrets that professional forex traders have that enable them to make lots of money trading forex? I once had a conversation with a friend of mine, who is a professional trader. He shared with me the 3 secrets that make professional traders like him very rich:
Secret #1 - Professional traders are not geniuses- they simply follow a simple forex trading system
You see it correctly, they are not any smarter than you nor do they possess of any god-like foresight in forex trading. I dare to say this because I know some professional forex traders who seem to know nothing in this world and clumsy in doing other stuffs but can do extremely well in forex trading. Why is that so?
It's simply because they have a successful forex trading system which gives them good forex trading signals. It helps them trade consistently. What they have to do is to repeat the consistency just by following the trading system. That's about all. And let me tell you a little more secret, professional traders use simple forex trading systems instead complicated, as what most people thought.
Secret #2 - Learn to work smart, not hard
Do you think that you should learn how to trade forex the hard way and gain all the knowledge before you can be successful? Do you think you can master the forex market if you combine all the strategies taught by every forex trading experts? If your answer is yes, you are wrong. In other businesses, you may get rewarded for all the efforts and time you have put into.
But in forex trading, it's the right forex trading tutorials and education that count and you are rewarded for being accurate and not so much for the effort you put in. You will be surprised to know that successful traders only follow a winning trading system blindly to build up their trading capital.
Secret #3 - They possess determination, discipline, money management and mindset for success
My professional forex trader friend once told me that he would leave everything aside just to concentrate on his forex trading. It's his determination to succeed that made him overcome small losses and steep learning curves that he experienced in the beginning. He told me the problem with most traders is that they are too eager to trade and make money fast from the forex market.
You need to have discipline to follow the rules of your forex trading system. Huge capital gains in forex are piled up over years and not days, there is no shortcut to riches. He manages his money so well that even 2 or 3 losses in a row will not affect his trading capital much. 1% or even 0.5% of his capital margin per trade is what he is only willing to risk.
Not everyone can be a professional trader in a short period of time as you need huge capital, but anyone can become successful in forex trading if you learn how to trade forex the professional way.
Saturday, June 27, 2009
China's Gold Holding Surge 76% over Six Years
Based on the title, you’re probably groaning: ‘Wait, I thought this was supposed to be a forex blog?” Bear with me, however, as this subject is extremely pertinent to forex.
Last week, it was revealed that China has been clandestinely adding to its gold reserves since 2003, to the extent that its holdings increased by 76%, to approximately 1,050 tons. The news initially sent a ripple through forex and commodities markets, which were overwhelmed by the figures involved. After analysts had a chance to gather some perspective, however, the markets relaxed. You see, although the increase seems tremendous in size, it is quite small in relative terms.
It is relatively small compared to other countries: “This places China fifth in the world, ahead of Switzerland’s 1040 tons but behind the U.S. ranked first with 8,133 tons, followed by Germany (3,412 tons), France (2,508 tons) and Italy (2,451 tons).”
It is relatively small given the six-year duration of accumulation: “I think as soon as people realized it’s not a year-on-year increase, or a quarter-on-quarter increase, people realized it should not have that big an impact.”
It is small relative to China’s mammoth $2 Trillion forex reserves: “As a proportion of foreign exchange reserves, which have risen five-fold over the same period, gold now stands at a tiny 1.6 percent, versus 1.7 percent in 2003.”
On some level, the development has at least some symbolic importance, as it demonstrates that it cannot be taken for granted that China will simply continue to plow its (dwindling) trade surplus into Dollar-denominated securities, or even currencies in general. This is underscored by the suspicious timing of the announcement; China essentially waited six years before revealing its buildup in gold, probably in order to coincide with the uproar surrounding the Dollar’s role as global reserve currency. In other words, even though China’s gold purchases in and of themselves don’t amount to much, the Central Bank of China is trying to send a message that it will defend itself against “the depreciation risk of some foreign currencies.”
The announcement also explains the recent buoyancy of gold prices. Historically, there existed an inverse correlation between gold and the Dollar. This correlation has all but broken down as a result of the credit crisis, and for the first time a strong Dollar has been accompanied by high gold prices. Part of the reason may be increased buying activity by Central Banks, including the Bank of China: “The physical market remained well-bid by an unknown buyer despite bullion prices spiking to levels that normally cooled demand…Purchases were made in Shanghai, traders said, in an effort to absorb domestic production and lessen the impact of bullion prices on global markets.”
Friday, June 26, 2009
FAP Turbo - The Real Money Forex Robot
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