Beware of Forex Brokers When You Trade With Forex Robot

You may be wondering about the title of this section. Why do you need to beware of Forex brokers? Well, there are some tricks that they play that are not in your best interests, as I shall explain. Please don’t think this applies to all Forex brokers, but there are certainly some dishonest ones, or at least ones that look first to their own best interests at the expense of their clients.

Firstly, to set the scene, you must think about where brokers make their money. Typically when trading Forex you may not pay a commission but you do have a spread. A spread is a difference between the price that you can buy and the price that you can sell at.

For instance, at this moment of writing, I am looking at GBPUSD (British pounds and US dollars), and see 1.6476/1.6481 as the quoted prices. These prices are known as the bid and ask. The first currency named is traded for X quantity of the other currency. In this case 1 pound sterling will buy US$1.6476, but if I want to buy 1 pound sterling I would need US$1.6481. So the broker would make US$0.0005 each time they bought and sold 1 pound sterling. It certainly doesn’t seem that the broker will get rich on that, but you must realize that the standard size traded is 100,000 units, so if the broker bought your lot of currency and sold it again they would make £50.

You should expect the spread to be lower on the major frequently traded currency pairs, but perhaps a little higher on exotics. Forex robots are usually designed to be traded…



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Best Forex Brokers – Why You Need Them

There are few fields in the economic sector that are shrouded in as much mysticism as that of trading in stocks and shares. However even more mysterious and yet the largest and most lucrative segments of the same seems to be currency trading. The approximate $ trillion being traded daily in the Forex markets dwarfs the combined $99 billion being traded in all of the world’s stock markets combined.

Forex trading is still in its nascent stages in many countries but is fast becoming a popular investment option. Currency trading can be an extremely profitable business venture, but it is not for everyone. There are many variables involved in the trade whose dynamics have to be understood by anyone who is venturing forth into this field. To become a successful trader you need to first understand what the currency market is all about. Complicated technical systems and information overload can make you slow and confuse you right from the start, making you lose money instead of making your profits grow. In order to succeed you will need to focus on a set of simple trading strategies that you can implement without hesitation. You will also need to have a thorough understanding of the different variables that may affect the position of your stocks in the market, become pro active, spot an opportunity and act on it wisely.

Or you can simply hire the best Forex brokers to manage the investment decisions for you! These professionals will provide you with the best tips and trading…



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Making Money With Forex Expert Advisors

I know if you have been involved with for even a little while, I am positive that you must have heard about the expert advisors. Quite frankly, these trading robots are garnering a lot of hype. But a lot of people are wondering if you can make money with expert advisors?

Well, I'd recommend that you check out some of the threads in many popular forums on the internet. I'm sure you'll find your answer there. I think you'll find hundreds, if not thousands of dead forum threads, where traders start demoing these expert advisors, and they can never reach long term profits.

Why do you think that's the case?

It's really quite simple. It has to do with the facts that the markets are just not programmable. Beyond that, why on earth would you let a robot do all the trading on your behalf? How about the fact that you can not trust most brokers.

I do not think I'm letting any secrets out when I say that many brokers are known for their somewhat questionable practices. I think we've all experienced stop loss hunting on our accounts.

How can you possibly trust a broker to take trades from a robot? How can you know you are getting legitimate entry and exit positions.

Also, stop and think about how much news happens during a trading day. Can you truthfully expect a expert advisor to be intuitive enough to be able to understand the news that comes out, much less to be able to trade it?



Source by John Templeton

The Forex Hunt For Forex Brokers Begins!

Amazingly enough it was only a few years ago that trading currencies or trading stocks and shares was purely an offline transaction and to hunt for a broker often meant reading through the adverts of the Financial Times.

To buy stocks and shares, you would have to hunt down and place a call to your stock brokerage or even your bank and start moving money around to buy the stocks and shares and then move the money back around when you sold the stocks and share. Well how those archaic times are fast becoming distant memories.

Now we are faced with a huge explosion of online alternatives for trading stocks, trading shares and trading currency (forex/fx).

I found trading shares quite exhilarating until the stock markets became stagnant and the movement on my stock profiles were minimum. I needed something more exciting, something a little more risky, yet could deliver the adrenalin rush I needed when I was on a big win.

So my attentions turned to forex/fx/foreign exchange or also known as spread betting. This is when the forex hunt really begins. The initial stages of a good forex hunt are quite simple and if you have been investing for sometime, they are generally common-sense.

When hunting for forex brokers you have to take in various factors. These factors include the companies themselves, like any good online investment, research the company, look for scam warnings and forex reviews and if you are happy with the feedback, that’s the first part of finding a good forex brokerage…



Source by Aaron Vast

Forex – A Survey Rating Three Top Retail Brokers

Perhaps you are considering or have already decided to enter into the fascinating and potentially lucrative foreign exchange (FOREX) market. You may now be wondering how you should go about choosing one broker over another. As you may guess, each has advantages and disadvantages. This article will help you to explore some of the aspects of doing business with three of the top retail FOREX brokers in the USA.

This author has test-driven the demo platforms provided by these FOREX brokers. They are Oanda, FX Solutions and InterbankFX. These brokers were chosen for review due primarily to their popularity among retail traders. Some of the basic findings are incorporated into this article. A more intensive coverage of the areas of comparison is beyond the scope of this article. Depending on the individual trader's preferences, there is, however, sufficient critical information provided here to provide a basis for making an intelligent choice from among the several brokers named.

Cost of Entry

A very pertinent area of ​​comparison is the minimum amount required for opening an account at each broker. Opening a trading account at Oanda requires only $ 1. Risk concerns aside, this theoretically opens up the window of opportunity to virtually anyone, including those well below the poverty line. Of course, a more realistic view for wealth building would require a substantially higher amount. Financial longevity and successful trading is difficult at such a…



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Is Forex a Scam? The Shocking Truth Will Surprise You

When considering the question “is Forex a scam” the first thing that comes to my mind is the old saying “Never invest in anything that you don’t understand.” Follow this advice and you are unlikely to fall victim to scams. Another saying worth consideration: “If it seems too good to be true, it probably is.” A third thing to remember is that you should know your risk tolerance and investment goals. Are you comfortable with the idea of losing your money? When will you need this money? You might be more risk tolerant at 20 than you would be a few years from retirement.

Foreign Exchange trading, or Forex, is the trading in international currencies. Is Forex a scam? The currency markets are a large and liquid market, attracting speculative short term traders. International currency markets are risky and reliant on rumors, world news, and politics. Foreign Exchange markets have been described as a zero sum game. There is a fixed supply of currency on the world markets and for one person to make money on a Foreign Exchange market trade, someone else must lose money.

There are two types of traders in Forex; market makers are the large banks and investment houses, and retail Forex brokers are smaller players. Cash FX is the shorthand name of the commodities traded. Retail Forex brokers can be the subject of scams. Although the market is legitimate and regulated by laws such as the Commodity Futures Modernization Act of 2000, it is common for people to lose money more than they…



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Day Trading the Forex Market Profitably – Part 2

To trade volatile and liquid markets

Since your job as a day trader is to capture intraday swings it is crucial that the market you are trading has enough movement to allow you to do this. It is also important that the market you are trading has enough liquidity so that order fills do not suffer from excessive slippage. You have to select a market that its volatility is permanent and not a temporary occurrence. Since you are basing your trading method on catching intraday price swings you have to know that you are trading in the right place. As a day trader volatility is your ally and you have to know that you can count on it every single day (or at least 90% of the days). Liquid markets will provide you with good order fills. As a day trader this is very important since you are aiming at smaller profit objectives and hence larger slippage will eat away more of your profits. When trading several times a day this adds up and can be the difference between success and failure.

As a forex day trader you have to apply all the above rules and principles plus other criteria that are unique to the forex market.

Time of day trading

The forex market is a 24 hour market. Never stops except on weekends. Within this 24 hour period different currencies behave in different manners. As a day trader it is very important to know the personality of the currency you are trading. For example, the GBP/USD is more volatile in early to mid European session then any other liquid pair. For a day trader trading in these hours it would be wise to take advantage of the price swings the GBP/USD pair offers instead of trading some other currency pair that constantly shows no movement. The USD/CAD pair is silent in the early to mid European session but starts to have more price movement toward the start of the US session.

Spread and liquidity

Forex brokers do not charge you a commission for every trade you make (at least most forex brokers). Instead, they make their profit on the bid/ask spread which is measured in pips. As a forex day trader you are aiming at capturing small price swings sometimes several time per day. Also, your profit objectives are obviously much smaller than the swing traders profit objectives. All this means one thing: every pip counts. You cannot afford to trade currency pairs with large spreads, if you do your profit will get eaten up to a point where you will not be trading with an adequate risk/reward ratio. Forex day trading must be done with liquid pairs. Most forex brokers will provide you with a very narrow spread for the most liquid currency pairs. As an example, many brokers are now offering a 2 pip spread for EUR/USD and USD/JPY and a 3 pip spread for USD/CHF and GBP/USD. These are the most liquid pairs and the ones a day trader should focus on.

Volatility

As a day trader volatility is you friend, a friend you cannot afford to trade without. In its basic definition, volatility is simply the amount of price change with relation to time. Volatile currency pairs have various price swings (price changes) during a small period of time (one day). These price swings are what a day trader lives on. In the forex market volatility many times comes hand in hand with liquidity. The most liquid pairs are the ones that are the most volatile. The big 4: EUR/USD, GBP/USD, USD/JPY and USD/CHF are the most liquid pairs that provide the best volatility and hence opportunity for the forex day trader. Within these four pairs, the GBP/USD is the most volatile. Although it is not the most liquid (the EUR/USD is), but it is the most volatility. This pair, traded with the right broker (one that provides a 3 pip spread) can present many profitable opportunities for the astute day trader.

In conclusion, the forex day trader has to be prepared not only with the basic day trading rules, skills and principles. His job is to incorporate into his trading the characteristics and uniqueness of the forex market. Remember, every currency pair might present different opportunities and it is your job to always focus on the ones that best fit the purpose and objectives of day trading. I hope to have contributed to your forex trading education and I thank you for taking the time to read this article.

Copyright (c) 2006 Avi Frister

ForexMinute Reviews and Recommends Tallinex for Traders

London, UK (PRWEB) September 02, 2013

Leading Forex news and Forex brokers’ reviews provider, ForexMinute recently reviewed Tallinex and opined that it is one of the few brokers who respect their low spread guarantee. A reviewer at ForexMinute claims that more than willing to sacrifice its profit margin to ensure its clients trade well over the long term, it brings attractive and appealing offers in various forms.

Regarding features, the reviewer at ForexMinute admits that with very low spreads, superior liquidity from multiple sources and straight-through order processing, it brings one of the most sophisticated Forex trading experiences for traders. Apart from their industry-standard and extremely popular trading platform MetaTrader 4 (MT4), it has carved a niche for its services.

A spokesperson for Tallinex says that it brings unmatched multi-lingual customer support and many other features that make for a very competitive overall package for traders and that may be a reason that it is popular. The brokerage firm also brings ‘Money Manager’ program for the traders who wish to make more money.

The spokesperson also says that Tallinex brings a user-friendly trading experience wherein traders can take advantage of an additional and novel service provided by it. Easy to use Forex trading platforms is one such feature that is being appreciated by traders.

It provides access to Tallinex Money Managers via its managed account facility wherein a professional account manager helps clients with their trades and contributes towards their financial success.

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