Forex Traders Edge

Is it a good webpage?

it has so many good features and many indicators.

thanks!

yes! it’s a great site. it provides so much useful info. especially their technical analysis: http://www.forexpros.com/technical/
good luck!

I want whether forex trading is legal in India

Of course it is legal to trade foreign currencies, and there is no limit on trading. But it is also legal to give away all your money.

Foreign exchange is the futures market and is very dangerous for someone who doesn’t know what they are doing. If you haven’t been doing investing for many years and know about how all the markets work, and what influences them, I GUARRANTEE you will LOSE YOUR MONEY in the futures markets

Every successful business has it’s own business model, a system which helps the business to generate profits. It goes the same for forex trading. To be a successful forex trader, you need to have a forex trading system in place to help you generate consistent profits from the forex market. Below are 4 major reasons why it can help you to make money consistently in forex:

1. Eliminates Emotions - Being able to control your emotions in forex trading is not easy. I understand because I’ve been through that when I was a greenhorn in the forex market. There is fear of entering a trade even when you see a trend in the currency pairs. So what you actually need is forex system trading, which are able to provide buy and sell signals. So you only have to follow those signals and carry out your trading without worrying too much, provided that the system is trustworthy.

2. Improves Consistency - For every forex trading system, there is a set of rules to follow before reacting to the buy or sell signals, e.g. avoiding trading before news releases etc. The rules are for you to follow and not break it. By sticking to the rules of a winning system, it only helps you profit consistently in your forex trading because you are doing the routine stuffs every time you trade.

3. Able To Detect Trend - Like what I have mentioned in my ebook, ‘Trend is your best friend in forex trading’. Many people do not make money consistently in forex because they may not know when is the starting and ending of a trend without using forex system trading. A technical trading system should have some indicators like moving average(MA), moving average convergence divergence(MACD) to help detect trendiness.

4. Determine Stop Loss And Profit Target - A good trading system has a fixed stop loss and profit target (may depend on risk to reward ratio or based on certain technical indicators). Fixed stop loss will help you to be consistent and not changing your stop loss every time. Risk to reward ratio must be at least 1:2, which means if you risk 30 pips, your profit targeting will be 60 pips. This is to have a healthy trading strategy, which lead to consistent profits.

If you plan to trade forex as your career, a trading system will certainly help you more than can imagine. The only challenge is that you may have to search one that matches your personality in order to meet your expectations. You can start off with a simple one which I have provided in my ebook for free, and I’m sure you will like it and find it useful.

Daniel S.
http://www.articlesbase.com/currency-trading-articles/currency-trading-tips-what-you-should-expect-from-a-good-money-making-forex-trading-system-730055.html

Technical Analysis Vs. Fundamental Analysis For forex currency trading

If it is not “technical analysis”, what is it? The other side of this is known as the “fundamental analysis”. Traders need to know the difference and why most foreign exchange dealers these days use technical analysis.

Fundamental analysis is based on an instinctive feel for the forex market to the rich experience over many years of trading. Without generalize too much, traders of the fundamental analysis have been in business for a long time, long enough consistently seen Ebbs in different currencies and to know what factors determine their value.This is an over simplification, but for the most part, to be able to beat the market as a fundamental trader, you need to be a pretty good economist. Most successfull fundamental forex traders have a specialty currency pair or two and understand the complex inter workings of the relationship.

Prior to the average player be able to Dabble in the foreign exchange market, forex trading was only for major banks and other large institutional investors. Decades of experience in a variety of information, and a clear idea of how currencies behave could in the current climate make you a large sum of money. Moreover, information technology was not as important in fundamental analysis as it deals more with the observation, hunches and lots of records. Now that information technology makes technical analysis more efficient, it is a favorite tool of most individual investors.

The traditional advent of computers for the forex trading world meant that numbers could be entered, jiggled within defined parameters, and spit out to the most likely path to success. The easiest way to understand one of the main reasons why most Forex traders use technical analysis in these days is to use the model of the calculator. Our grandparents and great-grandparents were forced to rely on their brain matter to get answers to complex sums. Our generation is the use calculators and computers.

The technical analysis is the mathematics and statistics. It is about the past performance of currencies and the use of technology for the analysis of future expectations.

Technical analysis has higher statistical accuracy, because it is based on cold, hard facts, but when all is said and done, there is no 100% safe method to predict foreign exchange movements. Technical analysts feeds historical price data into a computer, then the information about the pattern that extends over more than a century of foreign exchange trading gets analyzed. These patterns are real-time movements and forecasts are made.

Today\’s young poor use Forex Trading courses and tutors to learn complex technical analysis. The very experienced stalwarts remain on fundamental analysis, because it is what they are used two, successful at, and frankly, there is no reason to get lost in a mature manner.

Another reason why most Forex traders use technical analysis is that it is practical and easy to follow. It contains facts and figures, information that can not be interpreted in one way or another. This means that you can make more accurate assumptions as to probable outcomes of success.

Technical analysis is also easier to learn than fundamental analysis. It takes years of experience to understand fundamental analysis of forex markets to be a very successful trader. Since the influx of young professionals in the field of foreign exchange trading, it is not difficult to understand why computers are so being used so much for technical analysis. Raised on a steady diet of computer technology, instant satisfaction and simple acquisition of knowledge, this generation has taken to the technical analysis with gusto.Be mindful however that no technology is as powerful as when you combine the ability to use that technology with the underlying understanding of what makes the end numbers come out. That way you can question results when even the computers are wrong. Which is often the case when in comes to human variables such as the forex currency markets.

david wolf
http://www.articlesbase.com/insurance-articles/technical-analysis-vs-fundamental-analysis-for-forex-currency-trading-724323.html

They’re good. They pay out on time. They are a legit company. The only hard part is to get people to sign up…

I am looking for good forex brokers that use New York open and close prices (not GMT). What does forex.com use? I have an account with them but I think they use GMT.

FXCM’S market open/close time is at 17:00 (5:00pm) EST New York time.

The trading hours every week are from Sunday at 5:15pm EST until Friday at 4:00pm EST. Trading continues 24 hours a day during that time frame.

I would like to do some money with share, stock, mutual funds and forex market. SO anyone can please help out and guide me how this can be done

Do you mean to start a business or do you want to trade for yourself?
If you want to start a Forex business, the chepeast way would be to become an IB (introducing broker) for a forex broker. Or, in another case, obtain a White Label from them, which is another form of having your own company using all of their support and back office. The big brokers often have securities and CFDs as part of their investment choices.