A Guide to Forex Success doc

A Guide to Forex Success R o i c e s o n E n t e r p r i z e s T r a d i g n f o r e x t o o l s . c o m Logan This Special Report brought to you by Trading Forex Tools Table of Contents 1. Forex Currency and How it Works 2. Forex Trading - Must Know Basics 3. How to Find FX Trading Secrets 4. Online Forex Trading Systems Forex Currency and How it Works If you are interested in Forex then you're going to need to know a few things. Forex stands for Foreign Exchange. Foreign Exchange is the process of taking money from one country and converting it into the type of money that another country uses. This process is sometimes referred to as Forex currency trading. Forex currency deals with all the currencies of the countries that deal with international exchanges. Taking money from one country and converting it to the money of another country has been something that businesses have been doing for years. Without this ability tourism and international cruises would grind to a halt. That would be a bad thing. Converting money from one currency to another is hard work. Keep in mind not everyone uses a dollar system like we do. Japanese use the Yen and several thousand yen can sometimes translate into under a hundred U. S. Dollars. Not to mention all the other possibilities for money to convert to. You also have to factor in transition charges and taxes. After that you need to figure out how you want to sell or buy more of it. Buying and selling currencies is a good way to make money but it also has its dangers. It numbs the brain trying to keep it all straight, doesn't it? Keeping all of this straight may be a hassle. But the rewards are numerous. Besides cash flow, being able to do this fluently pretty much keeps your job safe. Not many people can juggle like this and if you can you will be a very valuable commodity. In closing Forex Currency trading can be a very hard thing to do. If done right you will be very successful. Forex Trading - Must Know Basics More than two trillion dollars is traded daily in the Foreign Exchange market and without exception the largest trading in the world. The FX is open twenty four hours a day, but only five days a week, including public holidays. The world wide financial centers commence trading in Sydney, on to Tokyo, then London and New York. There are active buyers all of the time and sellers at whatever given time anyplace worldwide. This lets the FX market have the most liquidity the globe has ever known. Money in the Forex market is traded in pairs only, for instance, EUR/USD, GBP/USD or UDS/JPY. Every trade coincide with the selling of one and the buying of another currency. The grounds for the buy or sell is the base currency. Think of the currency as a target to be purchased or sold and the 1st of the pair is the base currency. The principal currency of the Forex marketplace and in general the base for quotes is the U.S. dollar including the USD/JPY, USD/CHF and USD/CAD. There are exclusions and they are the EUR/USD and GBP/USD. These and a lot of other currencies quotes are expressed in units of one dollar ($1) USD per the other half of the currency pair. For instance, a quote of USD/CAD. 1.1302 merely entails that one US ($1) equals 1.130 Canadian dollars. You will frequently discover whilst trading Forex, a double-sided quote. It'll be a bid' and ask' price quote. Bid' is the price to sell the base currency whilst, simultaneously, buying the other currency. Ask' price is the purchase price of base currency and, simultaneously, selling the other currency from broker. The differences between bid' and ask' prices is the spread and is paid to the Forex broker as commission. Commission-free trading is offered by majority of brokers, and they instead profit from trades' spread. On major currency pairs the spread is usually 3-5 pips. Rollovers, what are they? The process by which the completion of a deal is rolled to another value date. The cost is based on the differential rate of the pair of currencies. Almost all brokers will roll your open positions thus allowing the position to be held over indefinitely. Forex brokers trade on the margin or leverage and trading this actually allows you the advantage of not having to fully payout on the total cost of the positions value. The brokers in Forex trading, at least most of them, allow more leverage than futures or stocks. The amount of leverage access in Forex trading might be up to five hundred times higher in value of your trading account. In Forex trading the leverage availability is among one of the first concerns of many traders of FX. Capitalizing on the leverage for brokers provides better, a lot better profits and since this can now and again be a double edge sword, they are able to get very big losses as well. All the same, with a calculated, low-cost and well prepared strategy and perseverance this may not be a problem at all. A properly made-up investment strategy will serve you in your trading successfully. I would like to afford you an important word of care. As with gambling, you should not ever invest more than you are able to afford to lose. In the case that you do take a profit, commence employing the profit for investment. Log on to the net and open a Free demo account and practice, have fun and sometime when you're confident to trade a real account. How to Find FX Trading Secrets You'll find there are many FX trading secrets available, and many websites that are going to offer them. The foreign exchange currency market is very large, its worldwide, and open almost every day. Forex secrets are available through a variety of sources, and you can actually develop your own through your personal trading. In order to be a success on the Forex market you are going to need a trading strategy. There is quite the assortment of different types of strategies available, and learning about each one of them is going to offer you a better chance of success. There are those strategies that are looking at long-term currency investing, and sometimes you may not see a profit for a year or two with this type of strategy. Others, are more interested in short-term strategies. Short-term FX secrets are going to include day trading. Day trading is where you will trade on the foreign exchange currency market throughout a 24-hour period. You'll purchase different currencies, trade them off for others, all hoping to see a profit within a few minutes or a few hours. While you may not see large profits during day trading, it can be a lucrative way to make money. But make sure that you thoroughly understand how unpredictable this particular market can be. Things happen very quickly, and in just a couple minutes currencies can rise and fall. There are many different types of Forex secrets that will include different types of trading practices. You'll find many different strategies are posted on the Internet, you'll find tutorials that will teach you about strategies, and you'll find a variety of different types of traders as well. For many years, forex trading was only available to the filthy rich, large institutions and banks. Those archaic days are thankfully over and with the advancement of the internet and associated software, now even the so-called little guy can try his hand at forex. I'd like to let you in on some forex trading secrets the big boys have tried to keep to themselves. The first of the forex trading secrets has already been divulged to you more or less in the above paragraph. Apart from the advancement in technology mentioned, due to new laws the forex market now accommodates even the small investor. This is a great opportunity for the average person to make a living or earn some extra pocket money from online forex trading. The second secret is to do day trading. When day trading, be certain to choose one currency pair in which you are familiar with not only the countries, their present economic, political and environmental situations, but also the time differences. Knowing this will give you a head start in accessing possible trading scenarios and help you to choose the most appropriate time to trade the currency pair. Do your homework! Let me expand on this a little here. Knowing the above information will give you an insight as to how the currencies might play against each other on the foreign exchange market, meaning that you'll have much firmer basis for selecting a buy/sell order to initiate your trade. A word of warning before you try to start making your trading fortunes, money can be lost as easily as it can be made and the forex market has no conscience. Please ensure that you refrain from investing capital that you need to live a comfortable life. In other words, don't go using your rent or grocery money for forex trading. That my friend is the first step to disaster. Online Forex Trading Systems, Methods and Hints For Successful Trading The best thing about online Forex trading is that it allows the player to gain access to the international market. Foreign exchange trading is open 24x7 only there are different time zones to consider; otherwise, one can trade round the clock. The stocks of many corporations are traded in the local stock exchange but Foreign exchange trading allows one to deal in foreign currencies from all around the world. This system allows for making huge amounts of profits from small amounts of invested capital. The leverage option allows you to trade more than you actually have and there is also no regulation to limit the amount you place in the market. Leverage allows you to play in thousands when you have invested only a few hundred in the market. If you chose the right broker, your investment can become four-folds; who guides you well. Though online forex trading is not as simple as buy in low and selling high, there are other variables involved. It is best to ask for the guidance of a registered broker to guide you; understand the other factors affecting foreign exchange trade. Do you think it would be wise on your part, to study the market before investing all your savings in this trade? Begin small, gain experience, become confident and then go in for bigger games. After you have registered with a margin broker who will give you a 100:1 leverage on all your investments; therefore a margin deposit of $500 will allow you to control 50, 000 units of your base currency. Understand currency fluctuations are traded in pairs; learn one pair and stick to the trade as you understand their personality. At a given time, invest only 20% of your money to cover you on the down side; so if you have $500 then invests $100 only. There are extraneous factors, which affect the market. Experience is part of the success process but this is easy with a proven system to guide you. Keep your eyes and ears open and learn before you try any big investments. There are many players like you besides the huge corporations and financial institutions. It is these huge trade corporations who will move the market and not your small amounts therefore study their moves. With proper study, you could be a part of a multi-trillion-dollar exchange Industry. Before you jump into any trading with real money it is best to practice with some virtual money or what is known as paper trades; there are demo accounts for the online Forex trading. Trading Forex is different from trading stocks, if you buy stock worth $100 and its value becomes zero. You lose only the $100 but in the foreign exchange market you will more than what you invested therefore keep 80% of your stock with you. Consult an experienced money manager to understand the pitfalls of online Forex trading as more than 89% of trading results in losses. As there are many pitfalls; you are dealing in currency that is best to work with a well-reputed broker like ECMarkets ECMarkets is quickly establishing itself as one of the most innovative Forex brokers in the market today. A stylishly designed website makes navigation very easy. The clear easy-to-use interface extends to clear easy-to-use trading platforms. Everything about ECMarkets is designed to put traders at ease and make them feel comfortable and confident enough to begin trading as soon as possible. ECMarkets offer a wide range of trading platforms that ensure their customers can trade at anytime, anywhere. Currently, there are 5 trading platforms available including the world’s most powerful and popular platform – the MetaTrader 4 1. MetaTrader 4 – Offering a huge selection of trading tools and indicators enabling single-click trading directly from the charts. 2. ECTrader Lite – Easy-to-use downloadable platform 3. ECMobile Trader – Comprehensive trading platform available on just about all mobile phones including iPhone, Blackberry and Android. 4. ECPro AutoTrader – Downloadable automated platform which allows every trader the opportunity to trade using proven successful trading strategies, even when away from the platform. 5. ECWeb Trader – Easy-to-use platform requiring no download allowing access to your trading account from anywhere in the world. ECMarkets also offer three different types of accounts depending on deposit amounts: 1. Mini Account - $100 - $2499 2. Standard $2500 - $19999 3. VIP $20000 or more The three accounts come with varying benefits and features aimed at generously rewarding depositors with a higher-than-average welcome bonus of up to $2000 and helping traders increase their skills and knowledge base to become better, more successful traders with unlimited access to a comprehensive education resource center which includes such features as free live webinars, trading signals sent to mobiles and private one-to-one tuition. ECMarkets also offer a free practice account on both the MetaTrader 4 and ECWeb trader platforms. The demo account contains $100,000 and is the perfect way to learn to trade without risk or obligation. To upgrade from a practice account to a trading account is a simple process and takes only moments. ECMarkets offer a large selection of assets to trade as well as all the major currency pairs. Recently, Bonds have been added to the list creating a diverse and wide range of tradable assets: 1. Forex – All the Major Currency Pairs 2. CFD’s – Gold, Oil, Silver, Sugar, Corn, Wheat, Soybean 3. Stocks – Including Google, Sony, Nokia, Apple, EDF and many more 4. Bonds – Including Japanese, Euro and the UK 5. Leverage – Up to 200:1 ECMarkets provide a complete education system aimed at getting the novice trader confident enough to start to trade and increasing the skills and knowledge base for the more experienced trader. The impressive step-by-step education resource center includes: 1. Introduction to Trading 2. Technical and Fundamental analysis 3. Free Live Webinars 4. One-to-One Training Sessions with the Experts 5. Comprehensive Glossary ECMarkets maintains a high level of professional multi-lingual support 24/7 via telephone, email and live chat. An attractive and solid Forex broker offering uncomplicated trading in a safe, regulated environment with many features not found elsewhere. . different types of traders as well. For many years, forex trading was only available to the filthy rich, large institutions and banks. Those archaic days are thankfully. from a practice account to a trading account is a simple process and takes only moments. ECMarkets offer a large selection of assets to trade as well as all