Tag Archives: forex

General Forex

Interbank Forex Broker – Check If Forex Broker is Trading Against You

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Interbank Forex Broker

Unfortunately on the market of currency trading even Forex brokers can be your enemy and the enemy of your Forex investment. Nothing personal – they really don’t have anything against you because of your age, sex, race or whatever. The problem is that when Forex traders lose – Forex brokers … win.

And do not fool yourself thinking that reputable Forex broker is not going to do that, because they are for years on the market. You might be surprised to find out that some of the top reputable Forex brokers are doing it.

In this article we will not be mentioning any brands, so that this article remains unbiased in the eyes of the readers. But you will read how to find out if your Forex broker is trading against you or this is just a paranoia.

For you to understand how one of the most traditional schemes of trading against traders works, you need to know one important thing.

Forex brokers have the right and technological possibility to show you NOT THE REAL QUOTES that are taking place right now on the interbank currency market, but to show you THEIR OWN QUOTES. If you read your terms of service most likely you will find a chapter which explains that the broker is held harmless of any claims about not showing you the real interbank quote. Interbank Forex Broker

This gives any Forex broker a technological possibility to trade against you. Let’s say you are using a specific Forex trading strategy and you are putting a stop loss or take profit at a certain level. When the broker (or its software, because this cheating scheme can be easily programmed) “sees” that you are 10 pips to reach the price when you take the profit, they suddenly start showing the quote which has nothing to do with the real quote on the market. And this price goes exactly against your strategy.

You compare it with the quotes of other top brokers, and you see that only your broker has “altered” the quote -other top brokers showed true quote and with that true quote you are making nice money.

When you see such strange changes in the quotes (compared to the quotes of the other brokers) and you see that this goes against your stop losses or take profit orders – this is a sign that the broker is trading about you.

You have a solution – ask your broker to send you the so-called tick by tick history. This is the real info that broker cannot amend. If after that the broker starts dodging, its support leaves the live chat, and other stupidity is taking place, then congratulations – you have spotted a cheater who trades against you. Interbank Forex Broker

Forex Trading Articles

Forex Education – a Simple Proven Forex Trading Strategy for Success

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Here we will outline a Forex trading strategy anyone can understand and apply for success. It works and will continue to work so here it is…

First let’s look at common mistakes that Forex traders make in terms of their Forex trading strategy and there are two which are common and lead to losses.

Trying to Predict Prices in Advance

Forex prices simply cannot be predicted and if you predict, you’re hoping or guessing and that won’t make you money, as your predictions will be as accurate as your horoscope!

You need to trade the reality of price change only and get the odds on your side.

Too Many Inputs

Many traders think the more inputs they have in their Forex trading system and the more complicated it is the better but there is no correlation between the number of inputs and Forex trading profits. Have to many inputs and the system will break in the brutal, hard world of Forex trading.

You should only have a few inputs or parameters and I know many systems which use just one rule and win.

The simplest way to make money is to use a Forex breakout strategy.

This means buying new highs and selling new lows. It’s a fact that most big moves start and continue from new market highs and lows and if you go with them you can make a lot of money. You’re not predicting, you are simply trading the reality of price change as you see it on a Forex chart.

Most traders don’t like trading breakouts, as they feel there not getting in at an exact top or bottom but as you can’t do this anyway, you shouldn’t try!

These traders lose, because they think pinpoint trading is the way to make money but its not – its trading a move when the odds are at there highest, that the move will continue in your favour and that’s what breakout trading gives you.

Breakout trading is all about making big profits and that should be the aim of any Forex trader not trying to be perfect or clever – you won’t get rewarded for that!

Use a simple breakout Forex trading strategy which you understand and can apply with discipline and you’re on your way to Forex trading success.

General Forex

Forex Financial Market – Making Money in the Forex Market

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Forex Financial Market

Forex trading is a moneymaking opportunity that can allow you to make money at home and at a good profit if well handled. With a good strategy and trading plan, you can indeed generate good profit from currency trading. As forex is a quick-changing market that operates twenty-four hours a day, it can also allow you to make fast forex profits if you strive to be successful with it.

Unlike the usual markets, the forex market does not require you to go to a physical market to trade. At the convenience of your own home, you can actually trade right there, for as long as you have your internet connection or telephone. The forex market also operates twenty-four hours in a day, thus you actually have lots of opportunities to trade wisely within a day.

In the past, engaging into the foreign exchange market means having a good amount of investment, that is why only banks and big companies and wealthy individuals are venturing into this largest financial market. Nowadays, anybody can become a forex trader, as it does not anymore require a huge initial investment to start trading. Forex Financial Market

With the internet, it has also become very accessible and convenient that you can make fast forex profits at the comforts of your own home, or anywhere you are, as long as you have the internet connection.

The forex market is also a liquid market. Being a large financial market and one of the most liquid markets you can invest in, it has indeed become a good venture for many. The currency market is also quick-changing and the fact that you can withdraw your investment anytime, is also another factor that makes the foreign exchange market attractive to many.

The foreign exchange market also operates day and night, thus you have lots of opportunities to make good profits. However, you don’t have to watch the market closely round the clock too. With good technology within your reach, forex traders can now get a software to automate trading and you don’t have to worry about determining the right timing to trade and being able to monitor the best time to get the best profit. Forex Financial Market

Forex Trading Articles

What Do I Need to Know Before Entering Forex Trading- 4 Things You Should Know

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The Forex market is a great market to be in if you’re looking to make a lot of money.  Although it’s a very lucrative opportunity, there are a few things you should know before you start.  Which is why you’re wondering, “What do I need to know before entering Forex trading”.

Well, what I’m going to share with you are a few things you should know before you begin forex trading.  That way, you’ll know what to do in order to make a lot of money in this industry.

The things you should know about trading Forex are:

1.  The first thing you need to know is what Forex is.  It’s the trading of foreign currencies.  You want to buy low and sell high.  The currencies that are usually traded are Euros/US dollar, Euros/Japan yen, and Great Britain pounds/US dollar.

2.  Another thing you need to know before entering Forex trading is the terms that are used.  This will help you understand what’s going on and will help you make more money.  You don’t want to jump into this thing blindly.  You’ll hurt yourself.

3.  You will need to open up a demo account and practice.  Doing this will help you get a better understanding of what to do without you having to risk your money.  After you have practiced and understand what’s going on, you should then go live. 

You’ll then start trading money…and making money, which is what a lot of people want to know who are asking, “what do I need to know before entering Forex trading”.

4.  You need to have robot.  It will help you automate things when trading.  Your Forex robot will help you find opportunities that you might not have found on your own.  It’s a quick way to make money in the Forex market.

These are some things you should know before you start trading Forex.  Be sure you pick a great system, use a Forex robot, and practice.  Once you are comfortable with practicing, you should then move on to trading real currencies.

Now that you have the answer to, “What do I need to know before entering Forex trading”, use the tips above.  It’ll make you a successful trader.

Forex Trading Articles

How Do I Start Forex Trading- Things to Do When Trading Forex

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Forex trading is a great opportunity to make a lot of money.  There are a few things you should do when trading, which is why you’re asking yourself “How do I start Forex trading”.  So, what I’m going to do is share with you some things you should do when trading forex.

That way, you’ll be able to make a lot of money in the FX market.

The first thing you should do is familiarize yourself with forex trading lingo and terms.  Also, make sure you understand them.  This will help you become more successful in the forex market.

The next thing you should do is set up a demo account.  With a demo account, you’ll be able to practice trading forex.  It’s a great place for you to start.  You won’t be risking any of your money.  This will allow you to practice until you’re comfortable with the forex trading process.

After practicing, you should jump into trading.  Set yourself up an account so that you can start forex trading.  You should also get yourself a Forex robot.  This is something that not a lot of people do who ask themselves, “how do I start Forex trading”. 

It’s mistake that they don’t get a robot either.  Because the robot will help you find various opportunities that you wouldn’t have found on your own.  Once you’ve found the opportunities, you will be able to capitalize on it to make a nice profit.

Now that you know the answer to your question, “how do I start forex trading”, go and and get started.  Be sure you set up a plan, have a system, and practice.  Once you do these things, you’ll become a great forex trader and make a lot of money in the market.