Introduction To Forex

If you are new to trading Forex, or if you are interested in trading on this particular market, you need to know what it is and what it does before you start trading. What you don’t know can get you into trouble in the Forex market.

So what is Forex and how does it work? The market known as Forex is defined by the selling of foreign currency. This is a market that runs specifically on the trades of foreign currency. You buy and sell Forex by buying one currency and selling the other. These currencies are traded either through a dealer or broker and they are always traded in pairs.

When you are purchasing currency, think of it as buying a share into a particular country. This means that you are buying a share in a particular nation’s economy and the price of that currency will reflect the market thinking about the future and current health of the country in question. Unlike several markets, this particular market has no central exchange or a physical market. It is considered an interbank market as the market is run electronically. This process is run 24 hours a day. Forex was originally created to be a banker’s institution until the 1990’s.

However, that has all changed due to the growth of the internet. Now there are online Forex trading firms that will trade Forex with anyone and not just large institutions. Now, Forex is considered to be a “spot market”. A spot market is simply a market dealing with current prices of a financial instrument. That is the definition of a spot market. As stated before, you are trading in foreign money by buying or selling pairs of currency at any given point in a market day. One of the good things about the Forex market is that it never closes.

For example the London Market opens at 3 am ET and closes at 12 noon ET. Tokyo opens at 7 pm ET and closes and 4 am ET. New York opens at 8 am ET and closes as 5 pm ET. So you can see from these examples that the market runs continuously and trading is done every day of the year. This is the biggest financial market in the world and also is the most popular. Many people trade globally as do large institutions and banks from all around the world. So it is a rapidly thriving market.

Now what do you need to do to start trading in the Forex market? You need a computer with a high speed internet and information about Forex. You will also need to have either a micro account or a mini account to get started trading in the market. While some brokers will allow you to start with as little as $500, it is wiser to simply use either of these two accounts. The price for a micro account is $1000 while a mini account should be at least $10,000. Bear in mind these are starting amounts only. This is an introduction to Forex and what it is.

Forex Galactico Review – Make Profit With Forex Trading Software

Forex requires access to a trading account. This access is made with the use of Forex (foreign exchange) trading software. You will find four standard kinds of Forex software programs for forex. Each type offers a different level of flexibility to the Forex trader.

Forex trading software is a type of computer program that you could install directly into your trading platform. Many traders use this type of software to automate the process of trading the Forex market. The Forex market is extremely large, and traders are for sale to trade 24 hours daily, 5 days a week. If you’re able to find a quality piece of Forex software, it might trade for you around the clock and create a passive source of income.

Instructions

1. Buy a piece of Forex software or find some that is readily available online. When you locate the piece of software you want to use, download it to your computer.

2. Install the trading software trading program onto a demo Forex trading account on your computer. With any type of software that you simply buy, you need to try it out on a demo account before ever seeing a live account. This way, you can attempt your brand-new strategy with fake money before risking your own. You ought to be able to double click on the software that you simply downloaded for your computer as well as an installer will run. Then you can choose the directory to set up the software on your trading platform. It’ll generally need to go into the “expert advisors” folder. Many software programs is going to do this automatically when you show it where the trading platform is.

3. Run the software on your demo account for an extended amount of time. Play with the settings of the trading software to determine what type of trading style you like. Some software will allow you to completely customize your trading style while other software only sticks to some specific method. Use the software every day to be able to get extremely comfortable with it. If the trading strategy is profitable, you are able to start a live account at that time.

4. Download the trading software for your live trading account on your computer. When trading in your live account, it is important to keep your money management rules in mind. Since you are no longer playing with fake money, you need to be very strict about how exactly and when you trade. Don’t begin bigger trades once you win a few trades in a row. As long as you can keep to the plan that you simply established, you can make money within the long-term with the software.

Now, let’s talk about Forex Galactico from Ted Anderson and how it may help you. I really hope this simple Forex Galactico Review will aid you to differentiate whether Forex Galactico is Scam or perhaps a Real Deal.
Lots of about the experts advisors that trade automatically about the Forex markets nowadays are truly garbage. The main versions of Professional Advisors were truly working ones. Nonetheless, as they have grown to be far more and extra well-known amongst traders, there are several scammers searching to duplicate similar goods to market towards exact same market, except their goods is only going to crash and lose cash. Nevertheless, using the right research and testing, I’m capable of making a consistent income from trading the Forex markets with software EAs these days.

Tips For The Forex Foreign Exchange Market

I want to help you be successful in the forex foreign exchange market. This market can be a bit intimidating since there are over $3 trillion in trades daily, but the market really isn’t that hard. You’re not competing against other trades, you’re just trying to follow the market, like everyone else.

How do I find a good broker?

Brokers can be hard to find, especially on the internet. Brokers hold your money and make trades on your behalf, so it is apparent that you have the best quality to meet your needs. I’ve heard many horror stories with brokers not returning money. When people try to call customer service, no one answers. They contact them by email and get a reply back a week later saying it was sent. It’s horrible, when you’re talking about your money. You wouldn’t put your life savings in anything less than a reputable bank, so you’re not going to do the same with your broker.

The best way to find a good broker is to goto forex forums where people constantly are talking about this. You’ll hear all the horror stories, but you’ll also hear about the good ones. The ones that deliver top of the line service. This is the kind you want.

Should I be constantly monitoring trades, so I can sell fast if need be?

I don’t want to tell you to not monitor your trades, but it really depends on why you’re doing it? If you’re indecisive with trades and can’t make up your mind, than no. There has to be a point where you’re going to stick with your decisions because that’s the only way you’re going to learn. The best thing you can do is think of a loss point before you trade. That’s the only reason you should get out of the trade.

This is my advice for the forex foreign exchange market. Just keep your mind open and keep the desire to learn and adapt.

Forex Raptor Review – A Scam Or A Real Easy Way To Trade The Forex For Profit?

I am sure that you have read all the claims that the author of the Forex Raptor software makes on his website by now. Whether or not you have tried trading Forex or other commodities like stocks or futures, you would definitely have been intrigued by what Forex Raptor claims it can do.

Apparently, it is able to do analysis of the foreign exchange market for you, and also place all your trades automatically. This certainly sounded like a really good idea to me, so I decided to open a demo account with my broker and test this software on it.

1. My Forex Trading Experience

I have been trading the currency markets for a few years now, and it has taken me a lot of dedication and time to finally be able to make a profit monthly from it. Most of the time, I would have to spend a lot of time studying price movements and bars, and occasionally I may not even find any suitable trades after hours of analysis. The fact that Forex Raptor could do all this within a few seconds and still trade for me sounded really excited.

2. Why Was The Forex Raptor Software Made?

This software is able to carry out technical analysis for you. When done manually by a human, it can take many minutes as there are many things to study like price trends, support and resistance levels, oscillators etc. Forex Raptor is able to do all these calculations automatically within seconds for me, and has helped me save a lot of time.

3. Should You Use The Forex Raptor Automated Software?

Having used this software for a few weeks, I can say that this software has been well programmed, and would benefit most types of Forex traders. For traders who are relatively new, Forex Raptor will be able to help them make money from the start while they are still learning about the market. Experienced traders can take this software and let it run all their trades automatically.

Article Source: http://EzineArticles.com/1191470

Learn to Trade the Forex Without Spending a Fortune

People wanting to learn to trade the Forex are faced with a huge amount of online resources to choose from. These range from free forums to very expensive mentoring from Forex teachers that can cost many thousands of dollars. So what does the aspiring trader do?

Because anyone can pass themselves off as a Forex expert you should be very wary about people who claim to be able to make you millions of dollars in a few short months. The reality is that there is a lot to master and it takes experience to become profitable on a regular basis. The nature of the Forex markets is such that lots of money can indeed be made but you need to have a solid forex education first.

The first thing I would say is that to begin with you do not need to spend any money, there is simply a huge amount of good free information out there. Spend a few months reading the content on babypips.com and forexfactory.com and you will give yourself a great foundation.

I am now a regularly profitable trader and I have spent less than $200 on paid services. Having said that I do recommend that you find a reputable Forex trading course or Forex tutorial to supplement your own online free research. Make sure you do your due diligence prior to signing up. Read the forums to see what other people are recommending. I would say that you should be easily able to find a good forex trading course for under $200.

The good thing is that most forex brokers allow you to set up as many demo accounts as you like for free so you can practice different strategies to see which suits your personality the best. I would suggest trading on a demo account for at least 6 months before risking a penny of your own money.

So to give you a summary of how I would go about learning forex trading, see below:

1) Sign up at babypips and forex factory

2) Sign up with a good forex broker

3) Read and practice for 6 months

4) Optionally find a well recommended Forex course for under $200

5) Read and practice some more (maybe until you can regularly double your demo account)

6) Fund a micro account with a couple of hundred dollars and start trading live.

That plan should set you up well to learn to trade the Forex.

Article Source: http://EzineArticles.com/4725704

[Biz Takeouts Lineup] 188: ClickFX, SA’s first online solution to personal Forex transfers

On the next Biz Takeouts Marketing & Media radio show on Thursday, 8 September 2016, from 9-10am, show host Warren Harding takes a slightly different pace and looks at the newly launched online personal forex transfer service, ClickFX.
[Biz Takeouts Lineup] 188: ClickFX, SA’s first online solution to personal Forex transfers
One of South Africa’s largest Forex intermediaries ForexPeople, has introduced ClickFX to offer a simple and cost-effective way to transfer Forex online.

The Forex market and the local regulatory environment can be quite daunting for an individual. ClickFX offers a friendly, intuitive and reliable way to get a great rate when buying or selling Forex.

We host Richard Beddow, chief executive officer of ClickFX, in the 2oceansvibe radio studio to discuss why it is no longer only the wealthy individuals who have access to an offshore portfolio. ClickFX proves that buying or selling Forex doesn’t have to be complicated or expensive but can be as easy as the click of a button.

Tune into Biz Takeouts every Thursday from 9am-10am live from the 2oceansVibe Radio studio in Cape Town as we discuss the topics that matter in Marketing & Media.

Nigeria: 14 airlines close shop amid Forex hike

No fewer than 14 airlines have withdrawn their services from the country due to low patronage on account of the economic recession. The airlines, including Iberia, United Airlines, and Air Gambia, are among the 50 that operated the Nigerian routes some months ago. Besides, foreign airlines operating in the country are estimated to have lost about N64 billion in the wake of the new foreign exchange (forex) policy of the Central Bank of Nigeria (CBN).
Hansueli Krapf via _Domestic terminal of Lagos airport
Hansueli Krapf via Wikimedia Commons_Domestic terminal of Lagos airport
President of the National Association of Nigeria Travel Agencies (NANTA), Bankole Bernard, said that the new forex policy and economic crunch came with enormous negative effect on travel agencies, the reason for which they exited the country.

Bernard had, at the Aviation Round Table (ART) breakfast meeting held in Lagos recently, said that travel agencies that sold about $1.4 billion worth of air tickets in 2015 were beginning to record losses with the departure of the airlines, adding that there was fear that more airlines might quit flying the Nigerian routes.

The naira devaluation

Apparently frustrated by the low patronage, he said that some of his members were beginning to consider relocating to Ghana, where “their policies are consistent.” Bernard said that the alleged inconsistent policy of the current administration, particularly on the naira devaluation, accounted for the current “nightmarish” experience the airlines are facing.

The loss of N64b by the foreign airlines was on account of repatriating $800 million stuck in the economy in the last year but released after the recent devaluation of the naira.

With the devaluation, the accumulated $800million from airlines’ sales of tickets when the exchange rate was still at N197 to $1, was taken out of the country at the new rate of N320 to $1. Consequently, a substantial amount was lost in the last couple of weeks.

Confirming the development, the regional manager of British Airways, Kola Olayinka, said that for every $1m repatriated since the new policy began, the airlines lose no less than N80 million.

New policy to blame

Olayinka blamed the situation on what he called the immediate and unfortunate effect of the new policy, which is affecting all foreign airlines that had funds sitting in the Nigerian banks.

The current administration last year introduced a fiscal policy through the CBN, restricting access to foreign exchange and funds transfer out of the country. In the process, the International Air Transport Association (IATA) estimated that no less than $600 million belonging to foreign airlines was stranded in Nigeria. The association appealed to the government to ensure the immediate release of such funds.

Aviation sources estimate that Delta and United Airlines have up to $180 million hanging in the Nigerian economy, while Air France-KLM is estimated to have over $150 million. British Airways has about $100 million as of March 2016, while Iberia, which had already withdrawn its services, has $5 million of its funds trapped.

Olayinka expressed regret that the effects of the new policy are quite unfortunate, but a price to be paid for “the economic realignment”.

Foreign airlines remain a major stakeholder

ART President, Gbenga Olowo, noted that some airlines lost up to 50 percent of their funds due to the forex policy. Olowo, however, stressed that the foreign airlines remained a major stakeholder in the aviation industry, citing that they account for about 90 percent of the air passenger traffic in the country.

He said even if the foreign airlines continued to leave, it would still not be to the advantage of local carriers like Arik and Medview since their fleet capacity is too low to accommodate the traffic.

Olowo appealed to the government to be consistent in its policy and ensure that operators have an enabling environment.

Improving security at airports

Meanwhile, to improve security at airports nationwide, the Nigerian Civil Aviation Authority (NCAA) has made mandatory the fresh certification of all aviation security screeners. The directive, according to NCAA, is in accordance with the provision of the International Civil Aviation Organisation (ICAO) Certification System (Annex 17 Standards 3.4.3) for aviation security personnel and the requirements of National Civil Aviation Security Training Programme (NCASTP).

The exercise covers airport workers, who include security personnel responsible for the screening of passengers, cabin baggage, cargo, courier, mail and other items with the use of x-ray screening equipment prior to the boarding or loading of baggage and cargo onto an aircraft or movement to restricted areas.

The NCAA said: “Any person prior to being designated as an AVSEC screener in Nigeria, must obtain certification from the NCAA.”

How can trading benefit your small business?

From losing touch with customers and having no real differentiation in the market to a leadership breakdown at the top that affects the entire workforce, there are numerous reasons why eight out of ten businesses fail. However, sometimes it can be as simple as insufficient capital or running out of money altogether.
As a result, more and more small business owners are exploring the possibility of financial trading in order to obtain much-needed liquidity. Take the foreign exchange market, for instance, where you can capitalise on currency fluctuations caused by interest rates and inflation.

What’s more, by choosing to trade forex, you can employ the best exchange rates to expand into global markets. If you limit yourself to just one geographic position or type of client, you may struggle to achieve prolonged prosperity. But with foreign exchange, you can make the most of operating on a global scale, conducting business in multiple currencies.

Even so, foreign exchange is not without its fair share of risk, which means you will need to bear the following pointers in mind.

Selecting the right amount of capital

On the foreign exchange market, you don’t actually trade currency like you do with stocks and shares. Instead, you are betting on whether or not one currency will rise or fall against another. So, when it comes to selecting the right amount of capital, only invest money that your business can afford to lose.

With any profits gained, divide up into what you are happy to reinvest in foreign exchange again and what can be ploughed back into core business competencies.

Choosing the right trading platform

It has never been easier for small businesses to connect and interact with customers thanks to social media networks like Facebook and Twitter. However, you might be surprised to hear that trading forex can be just as easy and straightforward, providing you choose the right trading platform.

For example, world-renowned broker IG gives foreign exchange traders direct market access with full transparency and a unique range of charts to improve their decision-making abilities.

Striking the right balance between risk and reward

Foreign exchange is all about risk in relation to liquidity. For this reason, you should take the time to thoroughly understand market fundamentals and the technical indicators of a specific underlying asset.

Otherwise, you may be swayed by your emotions rather than good judgement and judiciousness. Don’t be discouraged by mild losses either, as this is part of the forex learning curve.

Practicing before making trades

It would be somewhat foolish to dive head-first into foreign exchange without testing yourself first. Even if you appreciate how forex works and recognise where profits can be made, you probably don’t know when to enter and exit a position.

Thankfully, there are several forex tools and account demos that enable you to practice currency trades before risking your own money. Once you have a solid grasp of what it takes to make money through foreign exchange you can move onto the real thing.

What Is Forex Trading? Can I Make Money From It?

Forex is an acronym for foreign exchange, a market where people exchange the currency of one country for the currency of another in order to do business internationally. Typical situations in which currency exchange is necessary include payments of imports and exports of purchases and the sale of goods or services between countries. Forex is also called the cash market or spot interbank market. The spot market means trading on the spot, at whatever the price is at the moment

Prior to 1994, the Forex retail interbank market for small individual speculative investors or traders was not available. A speculative investor, or speculative trader, is one which looks to make a profit on price movement in the market and is not looking to hold onto any currency long-term. But with the average minimum transaction size of $1,000,000, smaller traders were all bit excluded from participation in this market. Then in the late 1990s, retail market brokers (companies that facilitate the trades for speculative traders) were allowed to break up the large interbank units and offered individual traders the opportunity to participate in the Forex as we know it today.

Forex is considered the largest financial market in the world. The term market refers to a place where buyers and sellers are brought together to execute trading transactions. More then $1.5 trillion U.S dollars are traded daily on the Forex. By comparison $300 billion dollars is traded daily on the U.S Treasury bond market and $100 billon dollars is traded daily on the U.S stock market, for a total of $400 billion dollars per day. Forex trades nearly four times that volume daily, exceeding the daily combined activity of all the other financial markets

Forex has no physical locations – transactions are placed via the Internet or telephone – but is composed of approximately 4,500 international world banks and retail brokers. Individual traders wanting to profit by speculating on price changes can only access this market through Forex broker, such a I-TradeFX.com. It is a good practice of a speculative trader to only deal with Forex brokers that are regulated by the governmental bodies in their respective countries.

Introduction To Forex

If you are new to trading Forex, or if you are interested in trading on this particular market, you need to know what it is and what it does before you start trading. What you don’t know can get you into trouble in the Forex market.

So what is Forex and how does it work? The market known as Forex is defined by the selling of foreign currency. This is a market that runs specifically on the trades of foreign currency. You buy and sell Forex by buying one currency and selling the other. These currencies are traded either through a dealer or broker and they are always traded in pairs.

When you are purchasing currency, think of it as buying a share into a particular country. This means that you are buying a share in a particular nation’s economy and the price of that currency will reflect the market thinking about the future and current health of the country in question. Unlike several markets, this particular market has no central exchange or a physical market. It is considered an interbank market as the market is run electronically. This process is run 24 hours a day. Forex was originally created to be a banker’s institution until the 1990’s.

However, that has all changed due to the growth of the internet. Now there are online Forex trading firms that will trade Forex with anyone and not just large institutions. Now, Forex is considered to be a “spot market”. A spot market is simply a market dealing with current prices of a financial instrument. That is the definition of a spot market. As stated before, you are trading in foreign money by buying or selling pairs of currency at any given point in a market day. One of the good things about the Forex market is that it never closes.

For example the London Market opens at 3 am ET and closes at 12 noon ET. Tokyo opens at 7 pm ET and closes and 4 am ET. New York opens at 8 am ET and closes as 5 pm ET. So you can see from these examples that the market runs continuously and trading is done every day of the year. This is the biggest financial market in the world and also is the most popular. Many people trade globally as do large institutions and banks from all around the world. So it is a rapidly thriving market.

Now what do you need to do to start trading in the Forex market? You need a computer with a high speed internet and information about Forex. You will also need to have either a micro account or a mini account to get started trading in the market. While some brokers will allow you to start with as little as $500, it is wiser to simply use either of these two accounts. The price for a micro account is $1000 while a mini account should be at least $10,000. Bear in mind these are starting amounts only. This is an introduction to Forex and what it is.