Forex Traders Edge

I heard a lot of people said 90% of forex trader lose money. I wonder how long and roughtly how much the trader lose become they become the remaining 10% winners.

Most of ppl enter forex market to get a luxury lifestyle regardless of how much they can loss,they just look at the millions they can make out of this market.

How to Lose ? what to Lose ? you can make 100 trades/month , 50 winners and 50 losers and you are still in profit.

If you are looking for the best forex software, visit this site

http://the-best-forex-software-in-internet.blogspot.com/

This software is the best software that can help increase your trading profit and user friendly.

Best Wishes,

Can someone with experience in this area please answer?

How does ‘currency trading’ work? What kind of brokerage account is needed? Do the standard brokerages houses do this? I have an account at Schwab.

What is "Forex"? How do I buy currency contracts?

Thanks for the help!

Great question Antonio.

The Forex (Foreign Exchange) market is the largest financial market in the world and is open 24 hours a day. In fact, the Forex market is larger than all other equity markets combined. Unlike stocks, there is no central exchange where Forex transactions take place. So retail Forex traders trade the Forex market through forex brokers who provide pricing and facilitate the currency trades.

Forex is traded through the internet so you can trade it from anywhere you have internet access. You can leverage your Forex account many times its actual value (up to 400:1 but 100:1 is most common) which provides for great profit potential as well as great risk. Forex transactions are traded in pairs so for instance when you buy the EUR/USD you are buying Euros while simultaneously selling Dollars. Because you both buy and sell with each transaction you can make money no matter what direction the market moves.

It is also fairly easy (maybe too easy since many lose their money) to start. Most brokers only require a couple hundred dollar minimum. Also, almost all brokers offer free practice accounts with no time limit so you can practice until you are ready to go live. The one key to not losing your money is this: Don’t start trading until you know what moves the market and how to trade it. If you start with live money too fast you WILL lose it.

Those are some basics to help get you started. Good Luck!

I need to track the exchange rates: USD and Indian Rupee as well as Yen and USD. Its very amazing and incredible. I saw it on a seminar. Please let me know the site where i can find it !!!!! Kindly Expedite. ( For Academic purpose )

www.oanda.com?

I visited forex.com and want to know if its a real and original type of foreign exchange buying and selling platform so that I can trade. I am worried if its fraud. Would anyone review the site or know anything about this website if its not fraud or scam. They provide a virtual $50,000 account to trade for starters to get to know about it but, i am still in doubt.

Forex.com is a reputable forex dealer. It is not a fraud or scam. They are a registered financial entity in USA. The virtual account is for you to practise your forex trading strategies and test if you are profitable.

Mel, I would not recommend you to invest at Forex.com because it has very high spread. Try websites like Oanda.com or Fxcm.com that have lower spreads.

Before investing real money in foreign currency, I would recommend you to equip yourself with necessary knowledge. Many people, including me, lose some money in the beginning because we do not know anything about the market, how to trade properly and do not have the basic analytical skill.

I have attended a free 7 days Forex course provided by a Forex mentor called Greg Morris. The information is very useful and I especially gained a lot from the analytic lessons. I think you should at least learn the basic before really trying investing real money.

Along with this answer, is a link to the free 7 days course. Hope that you can enrich yourself and make money from the forex market.

fx-mails.com, electron-mails.com, forex-mails.com are trusty worthy sites, are they really paying sites?
i have reached minimum payout for 2 above mentioned sites. can you tell me which sites are really paying for reading emails and tell me more about really paying paid surveys.

I am not sure about the answer to your question, however, I would strongly recommend that you be very weary about signing up for any websites that will "just give you money" for taking a survey, etc.

sharekhan or karvy support this forex trading or not..i dont know about it,,
i know that they allow share trading..
so please tell me how to start forex micro trading..i mean from which broker..
Thanks..
i can invest a maximum of 100$ usd only.
i am having accounts in paypal,egold, and sbi(state bank of india)

If you are looking for reliable, tried and tested brokers visit http://www.forexlane.com/brokers.html

The unbiased review on the most trustworthy brokers that I have personally used.

A piercing pattern occurs when the first session is a black candle, then the second sessions candle opens below the prior session low and closes at least half way above the prior sessions candle real body. How can that be possible in forex because the open of one candlestick is the close of the prior candle? Only in weekends you can have a gap?

didn’t find any answer ?, you can find books, tutorial, video, chart, prediction about forex here:

www.forex-tutorial.co.cc

What are the risk of trading currency with Forex trading? I live in China, but wants to try trading currency with forex. One of the operator asked me to send the money across to them in USA and start trading in minutes time. I don’t know much about currency trading but they said they will offer me a course to get me started. Do I engage in this business?

Like everyone else has said you need to take your time when deciding to trade the Forex market. That being said, if you are willing to learn how to trade it properly and are patient you can make money even with a small ($5000) account.

You will need to set strict money management rules, that is how much to place on each trade, how much you are willing to lose on each trade and how much profit you are happy to take on each trade.

Greed can do funny things and a winning trade can end up a loosing trade.

Follow these 10 steps

1. Get access to and read as much free information as possible

2. Download free Forex Charts

3. Take some Forex courses

4. Test and trial a couple of different forex strategies to determine which is best for your personality. Don’t rush this stage as you will really get to know yourself, how you react to loss, greed, fear and you will come to an understanding of how much time you really want to commit to your trading.

5. Open a demo account with an online forex broker, and start with a conservative amount in your account between $5000 and $10,000.

6. Simulator trade for between about 3 months

7. Open a Mini-Forex Account and fund with a conservative amount of money, between $300 - $2000.

8. Build your confidence by taking small amounts from the market consistently.

9. Throughout this whole process develop a trading plan that will consist of
a. What size your real trading account will be
b. How much you will trade each time
c. What timeframes you will trade
d. How much you will risk each trade

10. Trading for Real - Start trading a real account and continue to monitor and track your progress, recognising that you are a continual learner.

You can learn more from the free course at http://www.my-forex-training.com/FreeCourseSignUp.html

First you need to take a basic course in Forex trading. This information is free online. No one can give you a comprehensive explanation on reading the forex charts here. There are three websites I have found to be helpful in studying the basics of forex online.
1. www.babypips.com
2. www.forexprofitsignals.com

Number 1 will give you a basic free education on forex
to get you started with a demo and even live account.

Website number 2 will show you a very simple way to start
making money on the forex market today. Get through the
course in website number 1, open a demo account. Get the information from website number 2 and you will be on your
way to make money on forex. Don’t be afraid. Fear is the key
to lose money in Forex. If you just do what you see in website
number 2, after completing your course from website no.1,
you will become successful intrading the forex market.

Goodluck