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    Understanding the basics of forex trading

     

    Forex trading or Foreign Exchange Trading refers to the simultaneous trading—that is, buying and selling—of two different currencies. It is done between and among major financial institutions, central banks, small retail currency traders or speculators, large international companies, government institutions, companies with overseas operations and the like. Based on the amount of money being traded, the international forex trading market is the world’s biggest financial market. Everyday, forex trading market gets an average revenue of $US 1 trillion—an amount far greater than the total revenues produced by all the stock and bond markets in the world. Characteristics Forex trading is a kind of over-the-counter trading—it occurs directly between to financial institutions or currency traders. The trading markets may be interconnected but there is no single unified market. Hence, there is also no single or standard rate. Each rate or price depends on what is being traded. However, the traders traditionally use nearly similar rates. Another characteristic of a forex trading is that it operates 24 hours; thus, one can trade any time of the day. Also, there is no need of an exchange floor, it operates through a global electronic network where trading occurs over the telephone and computer networks. This characteristic also prevents delays that consume a lot of time. Forex trading market is also very competitive and is highly liquid. This allows the parties to get low dealing costs and better price. Top Currency Traders and Major Currencies Traded Wall Street Journal Europe says ten major currencies account for 73 percent of the total forex trading volume. Among them are Deutsche Bank, UBS, Citigroup, HSBC, Barclays, Merrill Lynch, J. P. Morgan Chase, Goldman Sachs, ABN Amro, and Morgan Stanley. Among the currencies mostly traded are the US, Canadian, and Australian dollars; Euro; Yen; and Swiss Franc. A study conducted by the Bank for International Settlements says that the most traded products are Euro/USD, USD/JPY, and GBP/USD. The study noted that in spite euro’s continuous growth, forex trading market remains to be concentrated in dollars. The Trade Trade happens when you accept the offered price and when the dealer confirms. Exchange floor is no longer required, as mentioned earlier. In every trade, two currencies are always involved and the currencies traded serve as the products traded. Each currency has a price expressed in another currency such as 1 euro is equivalent to 1.204 dollar. In the said example, the euro trader sells the euro and buys the dollar. There are no further costs in the trade. There are no commissions and other fees as well. Large multinational companies engage in forex trading when they are buying from and selling goods to other countries. However, this kind of forex trading encompass only a small portion of he daily activities in the foreign exchange market. Most of the trading activities are carried out by currency speculators who earn from the changes in value of a particular currency. Key players in the Market BIS study shows that more than 50%of the forex trading transactions are interbank transactions. Trading revenues of most commercial establishments and currency speculators are deposited in the bank. Central banks also play a big role in the forex trading market. These banks control the supply of money, interest, inflation and target rates in order to stabilize the forex trading market.

         
    Understanding the forex trading system

     

    The forex trading system involves buying and selling foreign currency. Unlike the stock market there is no fixed market for the forex trading system. A good and effective forex trading system allows the traders to transact easily and provide more chances to increase the earnings. Forex, foreign exchange market, is a market place where a currency of one country is sold for another country’s currency for some profit. Currencies are traded in pares, like, US Dollar and Japanese Yen or US Dollar and Euro. Foreign exchange tradings are a great money making opportunity for those who know their way around, for newbie it’s a dream world where they either fall hard, sail well or fly high, its not easy to be a successful trader in the forex trading system., it’s a mix of luck and experience that must work to find success. There are a lot of companies and individuals over the internet and offline willing to help you earn money from the forex trading system but only a handful of these are true and can actually help. Nowadays most of the calculations are done by easy to use software that need minimum input from the user. You will need help initially, and may take some time for you to get to know the forex trading system. The high degree off leverage can sweep you either way, in the forex trading system one has to assess the risk for self, think of the chance one may have individually or with the help of a broker and/ or signal provider one may have and the amount which one can safely risk without putting yourself into financial trouble. It’s a law of nature, where there’s potential to earn there’ potential to loose so just be prepared before you dive in.

         
    Understanding what influences forex prices

     

    This article will explain some of the differences between Technical Analysis and Fundamentals and explain a bit about each type of trading. Excerpts are taken from the best-selling book ‘Market Wizards’ where Jack Schwager interviews Ed Seykota and Bruce Kovner. Ed is a trend trader (uses technical analysis) and also relies on hunches from 20 years of experience. He definitely emphasizes his reliance on technical analysis. While reading this, I liken, the ‘hunches’ to knowing the effect fundamentals can have on a market although I could be mistaken, they could be purely from reading lots of charts so well. Here are is exact words “Fundamentals that you read about are typically useless as the market has already discounted the price, and I call them ‘funny-mentals.’ However, if you catch on early, before others believe, then you might have valuable ‘surprise-a-mentals.’” Ed says his priorities when trading are the long term trend, the current charts and picking a good spot to buy or sell, in that order. Bruce says technical is awesome and very useful but by no means disregards fundamentals. It’s important to note that technical analysis is a critical method of understanding the history of market movements and hence useful to identify trends. It doesn’t actually tell us where the currency is going but analyses historical data. We then need to use our own intelligence to see what the activity of trading says about future trades. Technical Analysis can be compared to taking a patient’s temperature. To ignore it is ignorance and it can tell you whether a market is active, or cold and dormant. It also picks up unusual behaviour. Anything that creates a new chart pattern is something unusual. He also says “Studying the charts is absolutely crucial and alerts me to existing disequilibria and potential changes.” It’s the fundamentals that will help to indicate whether a trading value will increase or decrease. Everything that makes a country tick, in Forex terms. Consumer spending, government spending, employment cost index, government policy, political concerns and even an individual event can influence the market heavily. In summary, the fundamentals will indicate the direction of a price but not exact prices. The chart analysis or technical analysis is better for that, so together you can really increase your chances of coming away with some pips. The reason technical analysis is so emphasized is that many traders use charts to trade and at any given time, will be drawing the same lines of resistance and same lines of support. So if you can read the charts well, you have an awesome chance of predicting market movements. The best way to learn about the effect of fundamentals is to learn one piece of economic data at a time. This will help you make better-educated trades.

         
    Use these 3 simple guidelines to boost forex profits

     

    FOREX trading is nothing more than direct access trading of different types of foreign currencies. In the past, foreign exchange trading was mostly limited to large banks and institutional traders. Recent technological advancements have made it so that small traders can also take advantage of the many benefits of FOREX trading by using the various online trading platforms. FOREX markets possess unique attributes that offer unmatched potential for profitable trading in any market or any stage of the business cycle. For starters, FOREX trading boasts a 24-hour market, giving traders the chance to take advantage of profitable market conditions anytime. Secondly, the FOREX market is the most liquid market in the world. FOREX traders can enter or exit the market whenever they want, during almost any market condition. There also exist minimal execution barriers or risk and no daily trading limits. For all the advantages of the FOREX market, one glaring weakness emerges. The FOREX market is seen as unregulated although the operations of major dealers, like commercial banks in money centers, are regulated under the banking laws. The daily operations of retail FOREX brokerages are not regulated under any laws or regulations specific to the FOREX market. Many of these types of establishments in the United States, don't even report to the I. R.S. To make the most of the explosive potential of successful FOREX trading, individuals should follow these guidelines. 1.Determine the quality of the broker institution you choose. Unlike equity brokers, FOREX brokers are usually attached to large banks or lending institutions because of the large amounts of capital that is required. FOREX brokers should be registered with the Futures Commission Merchant (FCM) as well as regulated by the Commodity Future Trading Commission (CFTC) 2. Request a free trial. Before you commit to any broker, be sure to request free trials so that you can test their different trading platforms. Brokers usually provide technical as well as fundamental commentaries, economic calendars and other research as a means of assisting you. Basically, a quality broker will provide everything one needs to succeed. 3.Monitor two financial meetings to provide insight into the upcoming FOREX market. Two important meetings FOREX traders should watch for are the federal Open Market Committee and the Humphrey Hawkins Hearings. By reading the reports and examining the commentary, FOREX fundamental analysts can get a better understanding of any and all long-term market trends it also allows short-term traders to be able to profit from extraordinary happenings. For more Forex Trading tips please visit, Free-Cash-Site. This free site provides articles, tips and resources as well as up-to-date and cutting edge information on the FOREX, currency exchange market.

         
    What are the hidden odds of trading

     

    Anyone who is vaguely familiar with gambling knows that the house has the odds in their favor. Do some people leave a casino with large winnings? Yes, but that's because they left before they lost it back to the casino. If they had won and then continued to play long enough it is a mathematical certainty that would lose all of it back to the house. I watched a program one time about a group of students from MIT that had developed a system to beat the odds in blackjack. The program stated they had won large amounts of money before they all were blacklisted from the casinos. The system they used involved waiting to place large bets only when the cards were in their favor. This system works, it's called card counting and others have used it to win in blackjack also. By placing minimum bets on almost all the hands played they controlled their losses. When the cards left in the deck were in their favor they would place large bets and win most of the hands. During this streak of winning they would make up their losses and turn a profit. When a new stack of cards is brought out to the table they would leave and cash out because with the introduction of a new stack of cards the odds swing back in favor of the house. If they had stayed for more hands they would have slowly chipped away at the winnings until it was gone. In trading the house doesn't exactly have odds but commissions and slippage amount to odds against you. If you are new to trading you are probably thinking that commission and slippage are not that big of a hurdle. Well, I tracked it one time in my account, at the time I was daytrading. After six months I had lost more to commissions and slippage than I had lost on losing trades. Also keep this is mind I only traded on average 3 times per day and had a profit 66% of the time. During that six months I had only realized an increase of 5.5% in my account balance. Now that would be fine if you are trading a million dollar account but I wasn't. At the time I tried to fix my system which ended in disaster because I began to over trade which resulted in more losing trades than winning trades. What I failed to realize was that my winning system did not need to be fixed my money management skills did. Later when I realized that money management was the problem I went back to my old system with a few changes to the money management rules that I follow and performed much better. If you really want to become a better trader focus on the money management side of your trading. The markets go up, down, and sideways you cannot control the market. We need to focus on the things we have control over and money management strategies are a good place to start.

         
    What are the order types used by forex traders

     

    During the last decade, Forex trading has become one of the most attractive business opportunities to ever hit people's interest around the world. Every day people from many walks in life is actively considering entering the profitable world of the currency markets due to its accessibility and trading characteristics. One of the first things you will do once you decide you want to enter and learn about the forex markets will be to choose your forex broker and then download the free trading platform software from your broker website. When you first open your trading station software, you will find that there are a number of ways to enter the market or, said in another way, there are a number of ways to place an initial order to buy or sell any currency pair. One of these types of orders is what is called a “Market order”; this is an order to buy or sell a currency pair at the market price considering the instant that the order is received and processed (which is usually within seconds of hitting the "OK" button on your trading platform). When a market order is placed, you are simply saying "I'll buy or sell the currency pair at whatever price it is at when my order gets processed." There is a different way to enter the market that is called an “Entry order”; this is an order to buy or sell a currency pair when it reaches a certain price target; which you should determine by using your knowledge of technical and fundamental indicators. In theory this can be any price. You could set an entry order for the low price of a time period, or the high price of the same time period'; it all depends on your intentions, to sell or to buy. As an example, one usual recommendation is that you should always set an entry order to be the same price as the 'open price” of the time period. When you place an “entry order” to buy, for example, you are simply saying "I want to buy this currency pair at a given future price and if it never reaches that price, I won't purchase the pair." Stop and Limit orders are two different ways to exit a trade, automatically (i. e., without closing out your position via the click of your mouse or manually), after the trade is entered. And they are widely used as safety locks so you won't end losing everything in a bad trade. In short, you must always use stops and limits when trading the forex markets. A “stop order” is used to stop losses. A “limit order” (recommended if you can't monitor your open trade) is used to redeem profits. Where these orders are placed, in relation to your open trade, depends on the direction of the entry order, this is; if you buy or sell. Remember; a “stop order” is always placed below the current market value of that currency pair when you are in a long (buy) trade. And a “limit order” is always placed above the current market value of that currency pair when you are in a long (buy) trade.

         
    What is a mini forex account

     

    Nowadays many people around the world is looking for entering the world of Forex trading due to its very high profitability potential and many other advantages the Forex market has over other capital markets. But one of the main worries of the new trader is if he will need lots of money in order to be able to access this market and start placing trades. The reality is that practically anyone can enter the forex markets and place trades. You don't need to be super-rich or the owner of a big corporation. You just need a few dollars and the right strategy to start profiting from Forex trading. In the Forex world there is something called a Mini Account, and it uses a different leverage calculation than a regular (100k) account. This means that instead of trading full-size currency lots (100,000 units), you'll trade in lots that are just 1/10 the size (10,000 currency units), which in turn greatly reduces the amount of money you risk in each trade you enter. Pips in a Mini Account are worth, on average, $1 instead of the $8 to $10 value they have in a regular account. The Mini Forex account offers up to a huge 200:1 leverage, this means that just a $50 margin deposit will allow you to trade lots worth roughly $10,000 , but the smaller lot sizes, with correspondingly smaller pip values, means that you'll be profiting less from a successful trade and also losing less if the trade goes bad . For example, while a 20-pip loss on a 100,000 USD/JPY position would be $200, the same loss on a 10,000 USD/JPY position in a Mini account would amount to only $20. The following are the characteristics of a Forex Mini Account. - Minimum required account deposit = $300 - Recommended required account deposit = $2,000 - Traded in 10,000-unit currency lots - Default Margin: set at 0.5% ($50 per mini-lot) - Leverage up to = 200:1 Contrary to what you may be tempted to think, there is no downside to trading a Forex mini account, you will be enjoying all the benefits that full-size FX account holders enjoy; including, same state-of-the art trading software from your broker, charts, resources, and tools. This mini accounts are ideal for a new Forex trader to develop a disciplined, rational forex trading strategy and technique without excessively focusing on the fear naturally arising from thinking too much about profits and losses. One more great new for the starting forex trader is that there is no maximum trade volume when you use a mini account. Although the standard trade size is 10,000 units, you are not limited to trading one lot. For instance, you can trade 10,000 units or even 200,000 units. Allowing that, as you become more seasoned and build up your confidence you can slowly increase the size of your positions to maximize profits. This ability to customize the size of the trade will allow you to have a better risk management of your money.

         
    What is an online forex trading

     

    For-ex stands for Foreign Exchange; it is a global market for dealing currencies at floating exchange rates. The foreign exchange is world’s biggest currency market, on an average everyday dollar one to two trillion is traded in the foreign exchange. The trade is mostly done over the internet and telephone lines. Online forex trading is a fast, safe and easy mode of investing. It offers huge returns like twenty to thirty percent every month, yes unbelievable but truth, however that’s only in some cases and you need a lot of experience to be able to extract that amount of interest! There is no fixed centre for the trade so all the trade is done over telephone, internet and fax. The foreign exchange trade witnessed a massive boom only after online forex trading systems were introduced, internet and telephone has helped the trade grow from $70 billion a day in the 80s to around $1.5 trillion to $2 trillion today. The currency market is made up of around five thousand institutions most of which are international banks, central government banks, commercial companies as well as big brokers and all these are connected with each other and do business on the go through online forex trading system. The major centers for online forex trading are New York, Frankfurt, London, Paris, Tokyo, Hong Kong, Bombay among others, and all these centers also communicate and deal through online forex trading. The benefits of online forex trading are listed below: - Currency market never sleeps: online forex trading allows you to keep track and deal from anywhere at anytime. - Mini accounts: some websites offer mini accounts that allow you to get started with as less as $200. - No Commission! – Online forex trading is commission free, there’s no exchange or hidden fee either. Your broker earns from the spreads. - Instant: it’s instant unlike offline trade which may involve paperwork. The nature of the market is such that risk comes inherent and can not be separated but risk can be minimized if you are trading at the right point of time and the right point of time can be anytime only online forex trading allows you to be there at the right time as all other methods as explained above are slow and usually take up a lot of time in processing.

         
    What is currency trading

     

    Currency trading is the largest market on the planet. It is estimated that in excess of US$2 trillion is traded every daypare this to the New York Stock Exchange's daily transactions of approximately US$50 billion, and you can see that the magnitude of the currency trading market exceeds all other equity markets in the world combined. The practice of currency trading is also commonly referred to as foreign exchange, Forex, or FX, for short. All currency has a value relative to other currencies on the planet. Currency trading uses the purchase and sale of large quantities of currency to leverage the shifts in relative value into profit. What is the FX market? The FX market is different from other markets in some other key ways that are sure to raise eyebrows. Think that the EUR/USD is going to spiral downward? Feel free to short the pair at will. There is no uptick rule in FX as there is in stocks. There are also no limits on the size of your position (as there are in futures); so, in theory, you could sell $100 billion worth of currency if you had the capital to do it. If your biggest Japanese client, who also happens to golf with Toshihiko Fukui, the Governor of the Bank of Japan, told you on the golf course that BOJ is planning to raise rates at its next meeting, you could go right ahead and buy as much yen as you like. No one will ever prosecute you for insider trading should your bet pay off. There is no such thing as insider trading in FX; in fact, European economic data, such as German employment figures, are often leaked days before they are officially released. Which currencies are Traded? Although some retail dealers trade exotic currencies such as the Thai baht or the Czech koruna, the majority trade the seven most liquid currency pairs in the world, which are the four majors: EUR/USD (euro/dollar) USD/JPY (dollar/Japanese yen) GBP/USD (British pound/dollar) USD/CHF (dollar/Swiss franc) and the three commodity pairs: AUD/USD (Australian dollar/dollar) USD/CAD (dollar/Canadian dollar) NZD/USD (New Zealand dollar/dollar) These currency pairs, along with their various combinations (such as EUR/JPY, GBP/JPY and EUR/GBP) account for more than 95% of all speculative trading in FX. Given the small number of trading instruments - only 18 pairs and crosses are actively traded - the FX market is far more concentrated than the stock market.

         
    What is forex

     

    Foreign Exchange trading (also called Forex, FX or currency trading) describes trading in the many currencies of the world. It is the largest market, which provides a large amount of liquidity to traders. Each day the markets trade over $1.5 trillion, if you compare the New York Stock Exchange which trades $27 billion a day you can begin to see how massive this market really is. The spot Forex market trades are settled within two banking days. There is no central exchange like futures, and most of the trades are done electronically. The big boy’s in this game are the Banks, Hedge Funds and financial organisations. However, with new rules and introduction of Trading Platforms across the internet almost anyone can now start trading Currencies. Unlike any other type of trading currencies are traded in pairs. One currency is bought and the other sold. The Major pairs in The Forex Market are US Dollar (USD) Japenese Yen (JPY) Swiss Franc (CHF) Australian Dollar (AUD) Canadian Dollar (CAD) British Pound (GBP) and the Euro (EUR) These Currencies can be traded in most order but the most popular pairs are the US Dollar Against the Japenese Yen Shown as USD/JPY, Euro against the US Dollar (EUR/USD), the British Pound against the US Dollar (GBP/USD), the British Pound against the Euro (GBP/EUR) and the US Dollar against the Swiss Franc (USD/CHF). When quoting currency pairs, the first currency is known as the base currency and the second as the quote, if you think the US Dollar is going to be stronger than the Japenese Yen, you would buy the base (USD) Hoping that it would rise and sell the USD when you wanted to exit the trade. When you see a quote of USD/GBP1.75 means that for every 1 US Dollar, you get 1.75 British Pounds. One great advantage of trading currencies is you can profit in up and down markets, it is just acceptable to trade to the down side (Short) as it is to the upside (Long). As in All types of trading Buying and selling Currencies brings with it a degree of risk, don’t ever trade with money you cannot afford to lose. Never enter a market without a good trading plan.

         
    What is forex

     

    It may come as a shock to the investment rookie, but Forex is the largest market in the world. Forex is an abbreviated form of the term Foreign Exchange, or simply currency. These terms refer to the monetary value of one country’s money value (as measured by the country’s largest single-value denomination) and is usually measured in comparison to the unit of currency used by the country in which the investor is a citizen. The measure by which Forex is considered the largest market is in terms of cash value traded, and it is used by every type of investment imaginable, from individuals (who use brokers or banks) to governments to international banking firms. Forex is extremely popular due to its extreme liquidity and its time capacity (with three large stock markets open day long during the week, it is possible to exchange foreign currency at every hour of the day). Liquidity is a term that is short for market liquidity, which refers to the ability to quickly buy or sell without causing a dramatic fluctuation in price. As currency for countries is determined mostly by internal (domestic) factors rather than external ones, Forex is not subject to the fluxes caused by a panicked sell-off. As the industrial market place and arguably the defining center of the world, the dollar of the United States is used by far the most in Forex transactions. Involved in 89% of transactions, the US dollar was way ahead of other currencies, followed distantly by the euro (37%) and then the yen (20%). Remember that the numbers here do not add up to 100% because every transaction will contain at least two different currencies. Forex speculators are a controversial topic among economists and politicians alike. One school of thought posits that currency speculation can contribute to a country’s economic downfall, as a lower currency value causes the price of inflation in comparison to imported goods to rise, snowballing the problem. Countries that are primarily exporters to a country with a higher currency value, however, receive benefits when their dollar is lowered in comparison, as their goods are thus inherently easier to purchase. The opposing view to the speculators as instruments of economic downfall is that speculators serve to keep currency regulated according to international agreements, and that their profits are the results of basic economic laws. Those who subscribe to this theory often point out that the opposing view is held all too often by leaders seeking to deflect attention away from their own domestic policies when explaining to a populace why their economy is in the toilet. Individuals wishing to become involved in the Forex market need to remember that they must do so through a broker or bank, bodies regulated by their governments and international agreements to prevent the unlawful profit resulting in economic damage to a different country. Investing through these bodies inevitably means that the individual will not see the full results of their investment, as they naturally provide some insulation for themselves against loss in the fluctuating market.

         
    What is forex get rich

     

    Although forex is the largest financial market in the world, it is relatively unfamiliar terrain to retail traders. Until the popularization of internet trading a few years ago, FX was primarily the domain of large financial institutions, multinational corporations and secretive hedge funds. But times have changed, and individual investors are hungry for information on this fascinating market. What makes the relative value of Currency fluctuate? There are two reasons the relative value of a currency fluctuates. The first is because of a 'real' market: as outside investors or visitors wish to buy things within a country, they are forced to convert their domestic currency into the currency of the country they are buying within. Similarly, as money leaves the country, people must sell their currency for the foreign currency they will need to spend or invest abroad. The second force for currency fluctuation is speculation. As investors feel a given currency will act strongly or weakly, they will buy or sell accordingly. This speculation can have drastic consequences on a national currency and consequently on a country's economy. During the East Asia Crisis in 1997, for example, as nations in Asia began facing economic downturns, speculators used currency trading to realize enormous profits and in many analysts' view helped to exacerbate the problem. Benefits of Currency Trading Currency trading has many very real benefits over equity trading like the stock exchange. The spreads for currency trading are extremely low, making the cost to a trader very low as well. The volatility of the currency market is extremely high, which means that a trader can generate enormous return on a given exchange. The ratio of volatility to spread is approximately 500:1 for the currency trading market, as compared to 100:1 for even the most ideal of stocks. Until recently, the currency trading market was very closed to small investors. Banking conglomerates and large multinationals were the main movers of this market place. In the past few years, however, new technologies have opened the doors to investors of all stripes. It is difficult to miss the enormous benefit of this 'new' market for the individual investor: higher returns with lower risk given the same amount of market knowledge have a very small downside.

         
    What is forex trading

     

    FOREX, (FOReign EXchange market) or FX, is an international exchange market where stocks and shares are not traded, but currency. The return for the investor is not in the value of the currency per se, but rather the relative exchange value of one currency against another currency. Therefore, Forex trading is always expressed in pairs such as Euro/US Dollar (EUR/USD) or US Dollar/Japanese Yen (USD/JPY). By simultaneously buying and selling pairs of currencies, the investor, or speculator, hopes to profit from a favorable exchange rate change. Unlike the American stock exchanges, the New York Stock Exchange (NYSE) and the National Association of Securities Dealers Automated Quotation System (NASDAQ), Forex trading is more predictable than stocks. One strategy that the Forex investor uses is a technique that stems from the assumption that all information about the market and a particular currency's future fluctuations is found in the price chain. In other words, an investor simply looks at what has happened to that currency in the recent past, and predicts that the small fluctuations will generally continue just as they have before. Another strategy for the Forex investor is to analyze the country of the currency's economy, political situation, and other possible rumors. The investor can also anticipate such things as political unrest or change that will also have an effect on the market. Forex is the largest financial market in the world handling between 1.5 and 1.9 trillion US dollars a day. The combination of rather constant but small daily fluctuations in currency prices, create an environment which attracts investors. Because of the the liquidity of the market, unlike some rarely traded stock, traders are able to open and close positions within a few seconds as there are always willing buyers and sellers. What are the risks? Because of the sheer scale of the Forex Market, it ensures greater price stability and greater leverage. Also, with built-in protections such as safety margins, automatic limits for buying and selling, and other risk protection measures, the likelihood of ending up in the red even when the Forex market is volatile is drastically reduced. Furthermore, because of its' size, it is near impossible for a single investor to significantly affect the price of a major currency. However, all Forex traders should be aware that the market is one of the most liquid around and subject to strong currency trends. While leverage figures of up to100:1 are possible, without adequate risk protection in place the gap between profit and loss can be dramatic. Even veteran Forex traders can be caught out from time to time and take large hits. With this type of investor speculation, the golden rule must be: don't risk more than what you can afford to lose.

         
    What s fibonacci forex trading

     

    Fibonacci forex trading is the basis of many forex trading systems used by a great number of professional forex brokers around the globe, and many billions of dollars are profitable traded every year based on these trading techniques. Fibonacci was an Italian mathematician and he is best remembered by his world famous Fibonacci sequence, the definition of this sequence is that it’s formed by a series of numbers where each number is the sum of the two preceding numbers; 1, 1, 2, 3, 5, 8, 13 ...But in the case of currency trading what is more important for the forex trader is the Fibonacci ratios derived from this sequence of numbers, i. e. .236, .50, .382, .618, etc. These ratios are mathematical proportions prevalent in many places and structures in nature, as well as in many man made creations. Forex trading can greatly benefit from this mathematical proportions due to the fact that the oscillations observed in forex charts, where prices are visibly changing in an oscillatory pattern, follow Fibonacci ratios very closely as indicators of resistance and support levels; maybe not to the last cent, but so close as to be really amazing. Fibonacci price points, or levels, for any forex currency pair can be calculated in advance so that the trader will know when to enter or exit the market if the prediction given by the Fibonacci forex day trading system he uses fulfills its predictions. Many people tries to make this analysis overly complicated scaring away many new forex traders that are just beginning to understand how the forex market works and how to make a profit in it. But this is not how it has to be. I can’t say it’s a simple concept but it is quite understandable for any trader once he or she has grasped the basics and has had some practice trading using Fibonacci levels along with other secondary indicators that will help to improve the accuracy of the entry and exit point for every particular trade.

         
    What s the difference of trading mini lots vs. full sized lots in forex

     

    In Forex trading there is something called, a Mini Account, and it uses a different leverage calculation than a regular (100k) account. This is, instead of trading full-size currency lots (100,000 units), you'll trade in lots that are just 1/10 the size (10,000 currency units), which in turn greatly reduces your risk. Pips in a Mini Account are worth, on average, $1 instead of the $8 to $10 value they have in a regular account. The Mini Forex account offers up to 200:1 leverage, this means that just a $50 margin deposit will allow you to trade lots worth roughly $10,000 , but the smaller lot sizes, with correspondingly smaller pip values, means that you'll be assuming less total risk. For example, while a 20-pip loss on a 100,000 USD/JPY position would be $200, the same loss on a 10,000 USD/JPY position in a Mini account would amount to $20. Here you have an overview of leverage (Margin, Account Size) on each of the two accounts discussed above: 100K (Regular Full-sized Account) - Minimum required account deposit = $2,000 - Recommended required account deposit = $5,000 to $10,000 - Traded in 100,000-unit currency lots - Default Margin: set at 1% ($1,000 per lot) - Leverage = 100:1 or 50:1 (if margin is set at 2%) Mini Account - Minimum required account deposit = $300 - Recommended required account deposit = $2,000 - Traded in 10,000-unit currency lots - Default Margin: set at 0.5% ($50 per mini-lot) - Leverage = 200:1 There is no downside to trading a mini account , you will be still enjoying all the benefits that full-size FX account holders enjoy; including, same state-of-the art trading software, charts, resources, and tools, etc. This mini accounts are ideal for a new Forex trader to develop a disciplined, rational forex trading strategy without excessively focusing on profits and losses. Also there is no maximum trade volume when you use a mini account. Although the standard trade size is 10,000 units, you are not limited to trading one lot. For instance, you can trade 10,000 units, 50,000 units or 200,000 units. This means as you become more seasoned and build up confidence you can slowly increase the size of your positions to maximize profits. In fact the trade size of 10,000 units allows for more flexibility in terms of customizing the size of your trade. The ability to customize the size of the trade allows you to have a better risk management. With less capital at risk in a Mini FX account, it is easier for you to develop a disciplined trading methodology, as well as the confidence needed to be a successful currency trader, without the anxiety and distractions that come with large Profit and Lose swings.

         
     
         
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