Bart Icles asked:


Are you interested in beginning a career in the forex currency trading industry? If so, there is a lot of information to be found on the internet about to help beginners get their bearings on this type of trading. This information is provided both free of charge and paid subscription. The first thing that you need to familiarize yourself with is what trading the forex is actually all about.

The forex currency trading market is one of the biggest financial markets in the world. Not even the stock market can measure up to the forex market. If you add the stock and the futures market together, the forex market will still be bigger and have more money traded across its platforms every single day.

Back in the day, the market was only open to those individuals who had a lot of money, a lot meaning millions. Today the market has opened to even the little guy due to the large amount of online trading companies opening their doors every day.

The forex market is made up of millions of individuals how are buying and selling different currencies. Every time someone trades, they are buying one form of currency and selling another type of currency. The major players in clued the US dollar and the Canadian dollar, the Euro and the US dollar, the US dollar and the yen, and the US dollar and the Australian dollar.

There are countless advantages of trading in the forex market as compared to other financial markets. The transactions are super fast and can occur any time of the day. You can also be assured that there will always be people ready to trade with you at any hour.

Another great advantage of trading currency is leverage. You can pretty much leverage about 200:1 in this market. With very little cash on hand, you can manage a large amount of currency. This is the number one reason why this market is quite attractive to individuals who want to increase their earnings quickly.

If you think that this is a get rich quick scheme, you are completely wrong. People can and do lose a lot of money in the forex market. Those who do enter the market with little or know knowledge or they act on impulse trying to get rich instantly. If you do not take the time to educate yourself and trade off of knowledge instead of emotion, you could be in danger of losing everything that you put into your account.

Begin preparing yourself now with the best forex trading courses and developing a great strategy to help guide your way through the market.

kerr to u asked:


what is a simple online free demo. I’ve tried forex.com, and I couldn’t understand anything on the site. I just want a simple one to learn the different aspects of currency trading. Please no winning strategies. I’m not interested in learning how to make money, just learning the basics.

H.M. O asked:


I am interested in trading currency. I attended a Premiere Trade work shop and know that there are much better, less expensive, systems out there. I also know that there is no such thing as get rich quick but i understand that you have to spend money to make money. Please give me a realistic answer.

Han Ming asked:


There are lots and lots of FOREX currency trading platform online these days and it is hard to choose the best from all these trading platforms. The most important criteria you need to know when choosing these trading platforms are the competitive spreads. The more competitive spread these platforms have the better. So what are spread? A spread is the difference between ask and bid price. The smaller the difference, the spread is more competitive. Competitive spread usually ranged around 3 to 5 pips.

The second most important criteria you need to know is the transparency of the FOREX currency trading platform. Sometimes they might charge you extra and you might not even know it. They are not trying to cheat you. Sometimes there are just errors and I’m sure you don’t want to lose money and pay extra just because of all these errors.

If you’re a beginner at trading FOREX, look for a trading platform that give away free EBook that teaches you ways to trade FOREX. Don’t look for a trading system that only teaches you how to use their software. Make sure this EBook shows you everything you need to know to start trading FOREX. Also make sure that it provides a professional study of the most popular techniques implemented today by FOREX traders worldwide. Other than that it should contain useful and valuable background, including technical methods, trading tips, FOREX glossary, chart reading, and financial indicators used in Fundamental Analysis.

Don’t use a FOREX currency trading platform that has complicated software. I’m sure your time is valuable and you will not want to waste few hours of your time to master how to use the software. Some software is easy to use and the functions are as powerful as the complicated ones. Be sure that you choose the right FOREX currency trading platform or you’ll lose both your time and money substantially. Take at least few days to determine which trading system has the best offer.

YAGOO D asked:


whats market forecast for next week for currency pair nzd/usd, my big lots stuck in there, any professional here or any suggestion

Brian McAboy asked:


Pick up any book on trading and you’ll find that discipline is an absolutely critical element of profitable forex currency trading. This particular aspect of trading is also one of the biggest obstacles for most traders, even sometimes for those that have been trading the currency markets for quite a long time.

Utilize 3 simple steps to double your discipline almost immediately. Don’t dismiss this method. Even though it won’t solve every discipline challenge you may run into, it will take you in the right direction and you really can double your discipline very quickly.

Step one: Be aware while you’re in the moment. At the moment when you feel the urge to deviate from your trading plan, ask yourself this simple question: “Am I acting on emotion here or would this be in alignment with my better judgment?” Being aware of how you’re feeling - at the time - is what is key, and then asking yourself the question. Often, the mistake happens because we simply are allowing our emotions to drive our actions and the simple act of staying alert to the emotional surge will help to keep matters in perspective. Awareness is only the first step though.

Step two: Realize the real cause of the problem. Usually the urge to deviate from your trading plan is because of a fear. Here are a couple examples.

* Getting into or staying in a trade when you know that you shouldn’t often comes from the fear of missing an chance to profit. What is often incorrectly attributed to greed is often a scarcity mindset coming into play. The failure to say “No” shows the fear that there “isn’t another bus coming soon”. When you don’t have the certainty that there are numerous profitable opportunties to be capitalized on and that you have the ability to take advantage of them, then the fear arises in the moment.

* Hesitating to pull the trigger is often the fear of screwing up more so than the fear of loss. Superficially it feels like the fear of loss, but the risk on any given trade can be foreseen. This one is an issue of self-doubt stemming from previous mistakes.

In reviewing the examples above, you may have noticed a common underlying factor. There is a way to eliminate fear, and the 3rd step is to address this specifically.

Step three: the most effective way to counter fear is through building your confidence. Your daily life is full of risk and yet you can function will amidst this risk without any fear all. Why? Because you have the confidence to deal with it effectively. When you drive your car, go out in public, walk down a flight of stairs, you have no fear. You have developed the skills to perform these activities and do them well and without getting hurt. The potential for harm is there, but you have the confidence to handle these situations.

Forex currency trading is a fairly simple activity compared with other professions, particularly with the tools available in today’s world. It is certainly within your abilities, and as you broaden your knowledge of and develop your skills, you’ll find that your fears subside as your confidence grows. The challenge then becomes how to properly go about building your confidence - real confidence, not just bravery.

True confidence comes from awareness, education, competence, practice, measurement of results and feedback for continuous improvement. Forex currency trading involves a significant body of knowledge and a respectable skill set to be developed to trade confidently. Unfortunately, many traders are not given the information when they start out to even know what they need to work on to become that successful trader that they envisioned at the beginning of their Forex trading career.

Failing to stick to your system is but one of the many mistakes Forex traders make that create losses and anguish. By knowing the cause of the mistakes and having specific actions to take to avoid them, you are empowered to be a more consistent and profitable trader. There are numerous trading mistakes listed in the book, “The Subtle Trap of Trading” along with specific actions you can take to avoid them. When you see where mistakes originate, you will find that your forex currency trading is both more consistent and much less stressful.

rashu asked:


how can start this? while I am far away from metroes. Can U help me

StevenP asked:


Its true that demand and supply affects the currency rate but am wondering what in more detail actually affects the demand and supply of currency. I.e. what change will affect the demand and supply

Kevin Anderson asked:


What is the very reason why people get into forex currency trading? The money, of course. They would not be in it for anything other than that. Although there are very few who are more interested in knowing how the foreign market and the system work. But few of them really. Forex currency trading can offer a lot of money if the trader knows how to play their cards right.

Foreign currency trading has become the best income-generating industry in the world today. It is quite understandable because people do not need years of education to get into one. Compared with other industries that require some years of expertise, traders only have to learn some basic points about foreign currency trading, online for that matter. With the many online web sites offering free trainings and instant education, it is no wonder that people can get into foreign currency trading without any hassle at all.

Many people get into foreign currency trading but not all become successful either.

Some of the factors affecting the foreign currency trading are those within the market itself. These are expected and traders should know them about them first-hand to be able to anticipate and plan the needed action to counter it.

Other reasons for not succeeding in the foreign currency trading is because of the traders themselves. lacking of discipline and poor money management to mention some. These are problems that could be prevented but was not given much attention to.

There are really no personification of the “perfect trader” because the foreign currency trading is not perfect itself. Though some advises are given, they do not really ensure smooth sailing in the foreign currency trading. they just serve as guidelines to give traders some pointers on what to do when the situation calls for it.

Here are some of types of persons who enter into foreign currency trading that people do not know about and may not get to read everyday. They may sound almost absurd but there are really some of them out there.

The type who put your investment in the safest possible market. Then try to forget about them. The fact that some traders are really not into the foreign currency trading but is trying to “make” it there is an accepted fact. There are those who just want to invest and not make time for them. This is the best advise that can be given those kinds.

If they do not have the patience to try and make their trades work then they could just invest into some stable market and have them check one in a while. Or forget them altogether. They would be surprise at how their foreign currency trading is coming along without them putting any time and work into them.

It can work too. Money is not the issue here. Some people may just want to be a part of foreign currency trading and leave everything to fate. One way or another they are at least contributing to the industry. At least, their money is.

The itchy trader. This is the traders who are the exact opposite of the first ones mentioned. This kind of trader is the impatient one. Always trying to check what has been happening to the foreign currency trading especially the trade that he or she have invested on.

This is the kind that does not play around with money. Every cent counts and if putting some of it into the foreign currency trading would multiply that sum, then the trader would do everything to make it gain some profit. If it means taking more time and dedication that is allowed, then this trader would be more than happy to spend more time in the foreign currency trading.

This is also the kind that views foreign currency trading as a sport. Should always be there to see the action taking place and not wanting to miss a thing.

It is ironic how these two types of foreign currency traders have qualities that goes extremely opposite each other. Either way, one or more of the styles they are using can also bring some money into the bag. The one thing that they have in common is the fact that they both are willing enough to take the inherent risks.

Joelmont75 asked:


I just started trading Forex pairs and I need to be able to collect price data for the last 10 time periods (hours, days or weeks) so that I can input this information into my trading platform to give me an idea on where the price of the currency pair will move next.

Can anyone tell me how to get this info into my yahoo finance page so that it updates with the movement of the currency pairs?

Any suggestions will be greatly appreciated.

Thanks in advance!!

Patrick