Forex How to

Hi, I’m looking for an automated system that will help me make profitable forex day trading. I have no idea what something like this can cost. Just doing research so I guess any answer will be valued.

There is a site at http://www.forextracergold.com that offers an automated system and can be used for day trading.

No, The concept of leverage increases the trader’s initial investment, or margin, by hundreds of percent. This initial sum is considered a deposit in “good faith” which establishes the ratio of leverage, and helps the trader withstand his losses, which, in any case, cannot be higher than the sum of the margin. A $100 deposit would give the trader $20,000 or more in margin on the various Forex Platforms.

See ya

Background: Fundamentals, with an investing strategy out of the Graham playbook (by distressed, unloved or otherwise underpriced securities). Risk is minimized by having a margin of safety, higher upside than down, and by buying into companies that can be understood and predicted down the line.

However, finding a good opportunity tends to leave at least some cash floating around. Aside from dumping it into a placeholder stock like BRK.B, moneymarket, etc. I am interested in utilizing, to some small degree, daytrading.

Basically:

(1) How is risk managed in security day trading? Forex trading?

(2) Do the few successful traders operate by intuition or determinism?

(3) How wide of a scope to most traders take? Ten stocks? One hundred? All of them? Similarly, how wide of a scope do forex’ers employ?

(4) Is there a way to get a hold of raw market data, outside of the wacky software like eSignal, etc?

Please do not try and pitch a trading system. Thanks.

Once you are able to learn the basics of online trading, you won’t need to ask for specific details like the ones you ask. You would know how to figure out the answers for yourself. And of course, be able to trade profitably on your own.

A Free Basic Hands-on Training is available at http://finance.groups.yahoo.com/group/cu…

Mainly, is there a minimum amount of funds required in your account.

Like trading equities, there must be $25,000 in your account to day trade.

Does forex have any requirements, or special rules only pertaining to forex?

Any and all advice is welcome.

Thank you.

Are you sure you thought this through? Day trading & Forex? That’s like throwing money out the window with one hand while playing craps with the other. The brokers will love you as long as your cash lasts. Verify what you read. Educate your self. Get diverse opinions.

That depends on the time frame in which you want to trade; intraday trading or swing trading.

There are advantages to day trading as well as position trading as well as you want to find out which one fits your schedule and personality the best.

Here are two methods which cover both time frames, http://jcls-forex.com/forex-trading-stra…

Forex Tracer — It’s a technical masterpiece of forex automation (similar to Forex Factory pip snipers but in a league of its own). Not many know about it, and at one time was part of a secret project. But the fact is, those who use it swear by it’s raw power.

The data mining engine is one of the best I’ve seen in forex day trading and is still quite simple to use. For profitable trades in forex very few ‘pip snipers’ come close to this Tracer.

Currently Im betting EURvsUS for the long run

but I want to know if u can refer me to a page where I can learn more about scalping and other strategies

Some time ago I read a transcript of a board meeting of one of the major Wall Street finance powerhouses. One thing that got my attention was a question someone raised about income from their Forex operations. The concern was that the entire division was a gamble with shareholder’s money and presented an unnecessary risk and uncertainty. Lots of other very respectable participants confirmed that Forex trading in general cannot theoretically (regardless of strategy) bring sustainable gains in the long run unless you are either a broker who gets paid a comission for every trade or a market maker the size of a central bank who has enough mullah to manipulate the rates. This was talked about as a universally accepted truth. Reading the transcript further, it turned out the Forex operation in that company was basically a brokerage where their institutional clients did the trading with their own money and simply paid comissions and access fees without ever putting the company at risk.

I want to know how to participate in trading activities of foreign exchange currencies stock and shares via internet.

Why dont you sign up for a practice account (www.forex.com). A representative will call you and you can ask them questions.

Day Trading

More novice traders try to catch trends in daily time frames than any other method however, this method of trend following is doomed to failure.

Fact: The data within a day is totally unreliable and support and resistance levels are meaningless. Volatility can and does, take prices anywhere and all daily movements are random.

You can’t get the odds in your favour and you can’t win – PERIOD

There are countless millions of traders, trading trillions of dollars daily and it’s laughable to think that you can trade in such a short term time frame and win.

So why do so many traders try it?

Well, it’s a good story and many vendors appeal to the greed and naivety of investors and try and sell them forex trading systems or courses, but they don’t trade them! They make money from selling their product – they win by selling their product and the trader loses in the market.

Don’t fall for the myth of Forex day trading!

Advantages: None!

Keep in mind: You are guaranteed to lose, as you can never get the odds in your favour.

Swing Trading

Swing trading is perhaps the easiest way for novice forex traders to learn a Forex trading system. The aim is to catch reactions in major trends which normally last a few days to a week.

Swing trading has the advantage of there are plenty of trades to go for and you know if you are right or wrong quickly. Forex swing trading is easy psychologically, as you have obvious stop levels, small loses and profits are generally banked quickly.

The key to successful swing trading is to spot valid areas of support and resistance and then use momentum indicators, to execute trading signals in line with shifts in price momentum. For example, traders would wait for a test of support and for price momentum to turn up away from support and then trade to the long side.

The key with swing trading is always to CONFIRM With momentum indicators – before executing a trading signal.

EVER simply hope a level will hold or try and predict as you will lose.

Advantages: Easy to learn, its fun, there are lots of trades, it can be very profitable and it’s easy psychologically.

Keep In Mind: Make sure you don’t just guess or hope with swing trading and you use momentum indicators to confirm your trading signals.

Long Term Trend Following

The most lucrative form of trading and also the toughest way to trade.

If you look at Forex trends you will very often see trends that last for months or even years yet, very few traders have the mental discipline to hold these trends and milk them for all they’re worth.

Forex trend following requires patience, to wait for and enter these trends when the risk/ reward is at its best and then have the mental discipline to follow them.

Why is it so hard to do?

Because most traders are not mentally prepared to accept big gains.

The above may sound odd – as surely all forex want big gains?

The answer is yes they do, but accepting them is another matter.

The problem is – if money is important to you (as it is to most traders) then counter trend moves, which eat into your open equity, can tempt you to bank a profit early.

Most traders get excited when they get a profit and the bigger it gets the more tempted they are to take it, before it gets away. As volatility eats into open equity the temptation becomes too great for most traders and they bank early.

They end up taking an average profit or mediocre one, when they could have had a huge one.

If you are long term trend following you need the courage of your conviction and tremendous mental discipline to ignore counter trend swings and keep your eyes on the bigger prize.

Forex trend following is tough mentally but the rewards are immense, if it is done correctly and you have the right mindset.

Advantages: You can make huge profits!

Keep in mind: You need to be patient when timing entry levels and you also need to be able to psychologically handle short term severe dips in open equity. You need to keep your eyes focused on the end prize – not the short term swings against you. It’s not easy to do but very lucrative.

New Trends & Turning Points

It is the dream of most traders to be able to catch important market tops and bottoms.

Catching these turning points offers low risk and high rewards, as you are in at the stat of a new trend and these turning points normally see profits piled up quickly.

Catching turning points is satisfying, very profitable and its not has hard to do as many traders think.

If you use sentiment tools such as % bullish and Net Traders Positions, you will with a little practice, be able to spot these turning points forming. Then you can time entry with on your forex charts.

The key is to WAIT for clear confirmation of a trend change – before getting on board.

These moves don’t come around very often but if you look out for them, they will give you some great profits coupled with low risk.

Advantages: Great risk to reward, it’s a lot easier to do than many traders think and it gets you in at the start of big trends which, normally see big profits emerge quickly.

Keep in mind: You need to be careful in timing your entry and enter at the right time furthermore; these trades only come around a few times a year, so you have to be patient and wait for the right opportunities

I have been researching the net, and trying to find a good day trading system. There are so many ways I can go, and I’m overwhelmed. I have also been reading books on the subject, so I’m not totally clueless. I also know day trading styles are all different. I guess I’m just trying to find a proven trading system.

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Please can anyone suggest a good/popular forex software system based on their personal experiences?

If you are looking for the best forex software, visit this site

http://the-best-forex-software-in-internet.blogspot.com/

Here you’ll find the best software that can help increase your trading profit and user friendly.