Tag Archives: currency

Forex Trading Articles

Currency Trading Tips How to Find The Proper Trading Style For Yourself

Everybody has different needs and life styles and consequently, trading is not a one-size fits all business. Today I’m going to be talking about the different trading styles within Currency trading and how they may fit your life and investing requirements. I hope you find my currency trading tips practical.

Scalping

It is a trading method where traders let their positions last only a few seconds or minutes. The primary purpose of scalping is to produce small gains from the market when you risk your account to very limited risk, which is due to the fast open and close execution of the trades. This can be a good trading alternative if you have a very restricted amount of time and have found a broker with very low spreads. Scalping trading is the fastest type of trading there and it really should be approached with caution. The fast pace of scalping may occasionally leave room for errors.

Day Trading

Day trading is different from other styles of trading in that the positions are seldom held overnight and regularly closed in the end of the day. A Forex trader will take positions throughout the day and close all of their positions at a certain time at the end of the day (it is very similar to a 9 – 5 job where you have a clock in and clock out time). While day trading could possibly be the perfect solution for some Forex traders, it might not be for others. This trading style can become quite a time-consuming one so it might not be for people with time restraints.

Swing Trading

This is a style of Foreign currency trading that attempts to catch profits from one to many days. This trading style might be for you if you have a little amount of time to dedicate to Forex trading. As I mentioned before, positions are normally held from hours to days and it needs a very little amount of monitoring time.

Swing trading is usually traded in higher time frames (4 hour or daily charts) and due to this the signals produced by an efficient trading system are more profitable and are usually the perfect ones to trade.

Position Trading

It is a long-term trading style where a trader holds his/her trades for several days, months, or even years. This trading style requires many times a lot of capital in order to be profitable since it is the slowest tone of all. Position trading uses higher time frames including daily, weekly, and monthly charts.

Trading the Forex effectively will only be achieved by creating the right balance between your trading plan and strategy. Additionally, you want to make sure you pick the type of trading that better fits your trading time allowance and investment requirements. Stay tuned to get more currency trading tips.

Sincerely,

Jay Molina,

Pro Fx trader & Educator

Forex Trading Articles

Learn Currency Trading – The Best Way To Learn It

With recent development, anyone without proper training can gain profits from currency trading by utilizing automated trading systems such as trading signals or forex robot. But by deciding to learn currency trading, you are always one step ahead over others who know nothing about it.

One of the advantage is that you can reconfigure your trading robot’s settings so it can trades more aggressively while still applying strict risk management method. This is what happen to the FAP Turbo when many expert traders experimenting with its settings. Knowledge to interpret news is another benefit; some times breaking news can cause high movement in the market within short time and this can be a potential extra profit for you.

If you are new at this and just have decided to learn currency trading, don’t take too complicated lessons and try to swallow it all; you’ll get confused and might want to stop halfway. What you need to do is selecting a recommended and proven trading system, study it, and test it. Earning some cash from your own trades (the value doesn’t matter) will add extra motivation to continue your lesson further.

Currently, currency trading is the biggest market on earth with everyday trades worth of 1.9 trillion US Dollars. The rules are different from stock trading; these currencies are moving against each other so you just have to know which one to play in order to make profits. These are what you need in your courses in order to make use of those movements:

1. Charts is the basic of all analysis methods in currency trading, so your lessons must teach you well in this topic. For example: types of charts, support, resistance, trends, indicators, oscillators, multiple time frames, patterns, etc.

2. You don’t learn currency trading just to get your money wiped up by the ferocious market; make sure you also learn proper risk management such as placing stop loss and take profits order with good risk/reward ratio. Not only that, you must have the skill to identify a time when there are no profit potential in the market movement, thus avoid loss trades.

3. What method that you should use to find good entry and exit points that create maximum profit. This is the most essential lesson: studying a proven trading system. You also may learn various strategies such as swing trading, scalping, or long-term trading strategies where your trades could keep open for weeks.

Note:

Swing trading: trading style where your trades will keep open for days and aiming for larger market movement.

Scalping: A trader who watched the smallest market movement during a trading day to makes many trades with little profits for each trade.

The strategies don’t matter as long as it works and you are comfortable with it. Personally, I really don’t suggest scalping if you are going to trade manually since it can be really tiring to look for every tiny profit possibility and manage several trades at once; that would be a perfect job for a forex robot.

Conclusion

There are no limit to what you can get when you decide to learn currency trading, but just learn what you need to apply proper risk management and make profits on regular basis. Don’t forget to practice what you learn since massive lessons without practice will kill your desire to learn. A demo account would be a perfect means to start practicing.

Forex Trading Articles

Currency Trading Software | The Sign Of The New Era

Currency trading is used to be something reserved for the elites or professionals, which means in order to do it you need to have enough capital and skills required to analyze the currency pairs. Those rules are no longer valid and now literally anyone can join the forex trading due to leverage system and forex trading software.

The leverage system eliminates the first requirement: large capital. Today, with 100:1 and 10,000 units for 1 standard lot, you only need $100 to start trading. There are brokers that even accept USD25 deposit; it is hard to generate large profits from such small account, but it is a good start.

The currency trading software eliminates the second requirement: analysis skills. The fast development in forex trading software make the users need a lot less skills to make profits from forex trading. These are some software that has made trading a lot easier:

1. Trading Platform
These are the one that provided by online broker for their clients. Depend on the features, you can do all sorts of things here. Usually, the basic features available are live price feed for allowed currency pairs, charting, and order execution.

Many of the current trading platforms have become really sophisticated currency trading software. It has many functions such as charting, trailing stop, various indicators and oscillators, etc. You can also check all of your account and positions details. Basically, the platform should provide all that you need in currency trading.

2. Technical Analysis Program
Technical analysis application have many features to help your market analysis. The software also own historical market data so you can put your strategies into backtesting.

In order to use it, you need to input the basic rules of your strategy and select a specific time period to test it against market movement at that time. Most of the good trading strategies are ‘graduate’ smoothly during eight years backtest or longer. Of course backtesting isn’t good enough; the next thing to do is test the strategies against current market movement by utilizing demo account.

3. Trading Signals Software
This currency trading software is sign of the new automated currency trading era. This program function is send you signals every time there is potential profit occur at the market. The usual format is currency pair, price, and the instruction to buy/sell. After that, you as the owner have to decide to execute the order or not.

If by chance you want to enter the order, it will gives you take profit and stop loss order to minimize the risk. It is truly a no-brainer system that requires no analysis skills at all. The one that provide the signals is a team of expert traders or program with Artificial Intelligence (AI).

4. Trading Robot
Currently, trading robot is the pinnacle of currency trading software. It doesn’t need any maintenance and can do all the works on autopilot. You only need to put it in a Virtual Private Server (VPS) and it will run 24/5 analyzing market and trades for you without you even have to turn on your computer. Basically it is a put and waits for the money to roll in system.

It is not created easily though. Currency trading market is very unstable and it is not an easy task to create a system that can adapt to various conditions that may happen in that market.

The first generation of trading robots can’t stand the market change and have failed to analyze the market properly which result in many loss trades. Even today, only a handful of robots still survive and continue to make profits for their user. .

Conclusion
These days, using proper currency trading program, anyone without knowledge in currency trading can earn profits from it; this is something impossible in the past. If you interested in forex trading, whether to learn or for the money, now is the perfect time to get in.

Forex Trading Articles

Saving Money on Foreign Currency Exchange

When making a money transfer it is the aim of most people to lose as little money as possible. There are many ways to seek out the best prices but it can take time so often a currency exchange provider is the best port of call. Here are some tips on finding the best foreign currency rates:

Your own account manager If you are frequently transferring large amounts of money it can make sense to work with a company who will provide you with an account manager who will actively look for the best foreign currency exchange on your behalf. They will provide advice on the best commercial currency exchange available and the bets process to follow. These foreign exchange experts have been in the industry a long time and have great experience so can guide you through all the pitfalls.

Commission free transfers There are some companies that will charge a commission to carry out a money transfer but there are many that don’t. They will however charge a marginal rate which falls in value as the amount you transfer increases. To find the best fees you should look at all the options open to you and make an informed decision. By researching the companies thoroughly you will gain confidence in your chosen currency exchange specialist and will feel relaxed about the transaction.

Research foreign currency exchange Research is the best means of finding the best foreign exchange rates. If you transfer money often you should always track the exchange rates. A good reputable foreign currency exchange company will have competitive rates.

Regular payments If you have to make regular payments you can agree this with the company and they will choose the most advantageous time to transfer money. This can save huge amounts of money. At Pure FX we offer a full currency exchange service with competitive rates.

Forex Trading Articles

Important Tips For Currency Exchange For Expats In Spain

It is important for expats In Spain to understand various ways on how to save money when it comes to currency exchange. The concept of most expats is to use the services of banks for currency exchange purposes without realizing that other sources could be cost effective.

Currency Exchange for Expats in Spain necessitates more or less the same procedures as elsewhere in Europe. The currency used in Spain is the euro, which is in line with the implementation of this common currency for most European Union members since 2002.

In Spain, all tourist areas are awash with shops and exchange offices that deal in currencies. As such, Currency Exchange for Expats in Spain is no problem. Like in all places, currency exchange rates are quoted in two prices. One price shows the currency at which it is bought, while the other price reflects the rate at which the currency is sold. One important tip for all expatriates is to carry their passports with them at all times. This document is often required to establish your identity before making any transactions in banks.

Here is some information on how to exchange currency from sterlings and dollars to Euros in Spain.

ATM Machines

Using ATM machines is the most convenient way for Currency Exchange for Expats in Spain. You just need to check if the bank is charging you a conversion fee and/or if the ATM is charging a transaction fee. Generally, most ATM machines do not have any spread between the prevailing buy and sell rates. Bank ATM machines are conveniently located at airports and at city centers.

Bank Transfer

This a good option if the transfer amount is beyond the limit of what an ATM can manage. Most banks are open Monday through Friday from 9 am to 4 pm and on Saturdays from 9 am to 3 pm. Banks may charge a substantial amount as a commission for foreign transactions.

Credit Cards

Credit cards are very convenient for any kind of transactions. Using them does not entail any transaction fees and moreover, you have the benefit of reasonable exchange rates as well. In Spain, you will need to show your passport for identification purposes before you use your credit card. Virtually all credit cards are accepted in Spain.

Personal Checks

Spanish banks charge a minimum commission of 0.5% to transfer money via a foreign check. A drawback however, is it could take a few weeks to get the check encashed.

Travelers Check

A traveler’s check is no doubt a safe instrument to carry around, but encashing these entails a heavy spread between the buy and sell rate. Traveler’s checks are acceptable in most Spanish cities and tourist areas. To avoid excessive additional exchange rate charges, expats would do well to carry euro traveler’s checks with them.

For transacting large sums of money, you can use the services of a foreign exchange broker. This is a safe way for Currency Exchange for Expats in Spain. A foreign exchange broker will be able to manage a good competitive rate for you resulting in a decent saving of money.

Spain is a wonderful destination, both for a tourist on a short stay or for someone looking to settle down. Once you know the best Currency Exchange for Expats in Spain, your stay in this country will be hassle free.