What to look for in an online Forex broker/dealer:
1. Low Spreads.
In Forex trading the ‘spread’ is the difference between the buy and sell price of any given currency pair. Lower spreads save you money.
2. Low minimum account openings.
For those that are new to Forex trading and for those that don’t have millions of dollars in risk capital to trade, being able to open a micro trading account with only $250 (we recommend at least $1,000) is a great feature for new traders.
3. Instant automatic execution of your orders.
This is very important when choosing a Forex broker. Don’t settle with a firm that re-quotes you when you click on a price or a firm that allows for price ‘slippage’. This is very important when trading for small profits. You want what we call a WYSIWYG (pronounced wiz-ee-wig) broker! This means you want instant execution of your orders and the price you see and "click" is the price that you should get...WYSIWYG = What You See Is What You Get!
4. Free charting and technical analysis
Choose a broker that gives you access to the best charting and technical analysis available to active traders. Look for a broker that provides free professional charting services and allows traders to trade directly on the charts.
Free Demo Account
Receive a free demonstration version of our online trading software by submitting the form below. This software allows investors to trade and manage a demo account in real time over the internet. Since no money is actually at risk, this is an excellent way to evaluate our trading software and online execution.
Live prices in Forex, options, shares, indices, and commodities. Just click on the price to place a trade.
Easy-to-understand account statements, free real time Charts and News accessible from both Demo and Live accounts.
Instructions and your demo password will be sent to your e-mail address immediately. Demo accounts are valid for 30 days.
Live prices in Forex, options, shares, indices, and commodities. Just click on the price to place a trade.
Easy-to-understand account statements, free real time Charts and News accessible from both Demo and Live accounts.
Instructions and your demo password will be sent to your e-mail address immediately. Demo accounts are valid for 30 days.
Posted by
Raja Sohail Ahmed
Forex candlestick chart patterns
his article provides insight into Candlestick patterns that can be extracted from Foreign exchange charts. A candlestick chart is a style of bar-chart used primarily to demonstrate price movements over a certain time period.
Doji
A name for candlesticks that provide information on their own and feature in a number of important patterns. Dojis form when the body of the candle is minimal as market's open and close are virtually equal.
Hammer
A price pattern in candlestick charting that occurs when the market trades significantly lower than its opening, but rallies later in the day to close either above or close to its opening price. This pattern forms a hammer-shaped candlestick.
Inverted hammer
A price pattern in candlestick charting that occurs when a security trades significantly higher after its opening, but gives up most of all of its intraday gain to close well off of its high. Gravestone - The market gaps open above the previous day's close in an uptrend. It rallies to a new high, then loses strength and closes near its low: a bearish change of momentum. Confirmation of the trend reversal would be an opening below the body of the Shooting Star on the next trading day. If the open and the close are identical, the indicator is considered a Gravestone Doji. The Gravestone Doji has a higher reliability associated with it than a Shooting Star.
Doji
A name for candlesticks that provide information on their own and feature in a number of important patterns. Dojis form when the body of the candle is minimal as market's open and close are virtually equal.
Hammer
A price pattern in candlestick charting that occurs when the market trades significantly lower than its opening, but rallies later in the day to close either above or close to its opening price. This pattern forms a hammer-shaped candlestick.
Inverted hammer
A price pattern in candlestick charting that occurs when a security trades significantly higher after its opening, but gives up most of all of its intraday gain to close well off of its high. Gravestone - The market gaps open above the previous day's close in an uptrend. It rallies to a new high, then loses strength and closes near its low: a bearish change of momentum. Confirmation of the trend reversal would be an opening below the body of the Shooting Star on the next trading day. If the open and the close are identical, the indicator is considered a Gravestone Doji. The Gravestone Doji has a higher reliability associated with it than a Shooting Star.
Posted by
Raja Sohail Ahmed
Markets Await Final Stimulus Vote; G7 Also in Focus (Cross Country)
The markets are now anxiously awaiting the passage of the stimulus bill and equity prices are trading relatively flat. Sterling has given back much of its overnight gains this morning on the news that Lloyds subsidiary HBOS had lost Gbp8.5B last year.
MIDDAY SNAPSHOT & ANALYSIS OF SELECTED CROSS RATES
On the data front this morning, Reuters/University of Michigan confidence came in weaker than expected at 56.2 (60.6 expected), while the earlier release of Canada vehicle sales came in at -14.8% just under the consensus -15.0% estimates. The markets are now anxiously awaiting the passage of the stimulus bill and equity prices are trading relatively flat. The Fed has announced that it will expand all of its FOMC meetings in 2009 to two day affairs to allow for more time to discuss policy in the challenging market environment. Sterling has given back much of its overnight gains this morning on the news that Lloyds subsidiary HBOS had lost Gbp8.5B last year. UK Chancellor Darling in response to earlier rumors of pressures on him from Eurozone officials regarding the depreciated UK currency, has said that FX is only likely to be talked about in general terms at G7 and he also reemphasizes familiar rhetoric that the BoE targets the inflation rate rather than a particular FX level. UK PM Brown hasn’t done anything to help Sterling’s cause saying that a weaker currency has made Britain more competitive. The topic of protectionism seems to be of central importance at this weekend's G7 meeting.
MIDDAY SNAPSHOT & ANALYSIS OF SELECTED CROSS RATES
On the data front this morning, Reuters/University of Michigan confidence came in weaker than expected at 56.2 (60.6 expected), while the earlier release of Canada vehicle sales came in at -14.8% just under the consensus -15.0% estimates. The markets are now anxiously awaiting the passage of the stimulus bill and equity prices are trading relatively flat. The Fed has announced that it will expand all of its FOMC meetings in 2009 to two day affairs to allow for more time to discuss policy in the challenging market environment. Sterling has given back much of its overnight gains this morning on the news that Lloyds subsidiary HBOS had lost Gbp8.5B last year. UK Chancellor Darling in response to earlier rumors of pressures on him from Eurozone officials regarding the depreciated UK currency, has said that FX is only likely to be talked about in general terms at G7 and he also reemphasizes familiar rhetoric that the BoE targets the inflation rate rather than a particular FX level. UK PM Brown hasn’t done anything to help Sterling’s cause saying that a weaker currency has made Britain more competitive. The topic of protectionism seems to be of central importance at this weekend's G7 meeting.
Posted by
Raja Sohail Ahmed
A solution for :Trade pairs, not currencies
Why do hundreds of thousands online traders and investors trade the forex market every day, and how do they make money doing it?
This two-part report clearly and simply details essential tips on how to avoid typical pitfalls and start making more money in your forex trading.
Trade pairs, not currencies - Like any relationship, you have to know both sides. Success or failure in forex trading depends upon being right about both currencies and how they impact one another, not just one.
Knowledge is Power - When starting out trading forex online, it is essential that you understand the basics of this market if you want to make the most of your investments.
The main forex influencer is global news and events. For example, say an ECB statement is released on European interest rates which typically will cause a flurry of activity. Most newcomers react violently to news like this and close their positions and subsequently miss out on some of the best trading opportunities by waiting until the market calms down. The potential in the forex market is in the volatility, not in its tranquility.
This two-part report clearly and simply details essential tips on how to avoid typical pitfalls and start making more money in your forex trading.
Trade pairs, not currencies - Like any relationship, you have to know both sides. Success or failure in forex trading depends upon being right about both currencies and how they impact one another, not just one.
Knowledge is Power - When starting out trading forex online, it is essential that you understand the basics of this market if you want to make the most of your investments.
The main forex influencer is global news and events. For example, say an ECB statement is released on European interest rates which typically will cause a flurry of activity. Most newcomers react violently to news like this and close their positions and subsequently miss out on some of the best trading opportunities by waiting until the market calms down. The potential in the forex market is in the volatility, not in its tranquility.
Posted by
Raja Sohail Ahmed
The minimum deposit to start trading
The minimum deposit to start trading live at Forex Club is just $10. However, $10 won't get you far. Even if you are a great trader, the account this small won't yield more than several dollars a day. If you are aiming higher, consider starting with a larger account. We recommend starting with $500. This way you will gain access to our ColtFX 'trading system' that teaches you how to balance risks and rewards on Forex.
Posted by
Raja Sohail Ahmed
what currencies to buy or sell
There are two general approaches to understanding the markets, including the Forex market. The first - technical analysis - focuses on price patterns and uses charting tools to discover them. The second - fundamental analysis - regards price behavior as a product of economic and political events.
Posted by
Raja Sohail Ahmed
Euro down against dollar, pound rises
The euro fell against the dollar while the British pound rose on Friday in the wake of Thursday's European interest rate decisions, which largely met market expectations. The 16-nation euro bought $1.2768 in morning European trading, down from $1.2796
Posted by
Raja Sohail Ahmed
U.K. Producer Prices Rise 3.5% Annually, Reinforcing Concerns For Deflation
Output prices in the U.K. unexpectedly increased 0.1% in January amid expectations for a 0.1% decline, while the annual rate rose at its slowest pace since September 2007 as firms continued to face weakening demands from home and abroad. The breakdown
Posted by
Raja Sohail Ahmed
Foreign Exchange as a Financial Market
Currency exchange is very attractive for both the corporate and individual traders who make money on the Forex - a special financial market assigned for the foreign exchange. The following features make this market different in compare to all other sectors of the world financial markets:
heightened sensibility to a large and continuously changing number of factors;
accessibility to all traders in the major currencies;
guaranteed quantity and liquidity of the major currencies;
increased consideration for several currencies, round-the clock business hours which enable traders to deal after normal hours or during national holidays in their country finding markets abroad open and
extremely high efficiency relative to other financial markets.
This goal of this report is to introduce beginning traders to all the essential aspects of foreign exchange market trading in practical ways and be a source of best answers on the typical questions as why are currencies being traded, who are the traders, what currencies do they trade, what makes rates move, what instruments are used for the trade, how a currency behavior can be forecasted and where the pertinent information may be obtained from. Mastering the content of an appropriate section the user will be able to make his/her own decisions, test them, and ultimately use recommended tools and approaches for his/her own benefit.
http://foreignexchangetrading.com/
heightened sensibility to a large and continuously changing number of factors;
accessibility to all traders in the major currencies;
guaranteed quantity and liquidity of the major currencies;
increased consideration for several currencies, round-the clock business hours which enable traders to deal after normal hours or during national holidays in their country finding markets abroad open and
extremely high efficiency relative to other financial markets.
This goal of this report is to introduce beginning traders to all the essential aspects of foreign exchange market trading in practical ways and be a source of best answers on the typical questions as why are currencies being traded, who are the traders, what currencies do they trade, what makes rates move, what instruments are used for the trade, how a currency behavior can be forecasted and where the pertinent information may be obtained from. Mastering the content of an appropriate section the user will be able to make his/her own decisions, test them, and ultimately use recommended tools and approaches for his/her own benefit.
http://foreignexchangetrading.com/
Posted by
Raja Sohail Ahmed
