Just One Step Of Getting Into The Lucrative World Of Forex Trading

Just One Step Of Getting Into The Lucrative World Of Forex Trading
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For many years the foreign exchange market was the preserve of major players such as national banks and multi-national corporations. In the 1980s however new rules were introduced which permitted smaller investors to enter the market through a margin account. In simple terms, a margin account allows you to trade with more money than you actually have in your trading account. For example, a 100:1 margin account allows you to participate in trading up to $100,000 with an investment of only $1,000.


Now, although this entry level has clearly opened up the market to the smaller investor, care needs to be taken as Forex trading is not an easy undertaking and is certainly not without its risks. For this reason the very first thing that any novice trader needs to do is to sit down, study the foreign exchange markets carefully and learn the ins and outs of trading before putting any money at risk.


In addition to some basic training, the newcomer will also need to find a good broker as all trading must be conducted through a broker. Here a personal recommendation is often the best place to start but, in the absence of this, you should choose a broker who is registered with the Commodity Futures Trading Commission (CFTC) as a Futures Commission Merchant (FCM). This will provide you with protection against both abusive trade practices and fraud.


It is normally a fairly simple process to open an account with a broker and once this has been done and funds have been added to your account you can begin to trade. Brokers will normally offer a number of different accounts to suit individual clients and most will have "mini Forex accounts" which will allow you to begin trading with as little as $250. The margin on which you the broker will permit you to trade will vary from one account to the next.


One thing that you should always look for when your are selecting a broker is the ability to cut your teeth by carrying out simulated, or paper, trades for a reasonable period of time. This is a facility which the vast majority of good brokers will provide and which simply allows you to trade in the normal manner but to do so on paper and without any money changing hands until you have found your feet. Many of the online brokers provide simulated trading accounts which allow you to make free paper trades for up to 30 days.


One of the things which worries a large number of newcomers to the world of Forex trading is the subject of trading charges and brokerage fees. Unlike many of the other markets, the Forex market is free of commission and so you can make as many trades as you like without worrying about running up huge brokerage fees. Your broker will make his profit from the 'spread' on each trade, which is simply the difference between the buying price and the selling price of a currency pair and is a subject all of its own.
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The Most Tricky Forex Trading Styles

The Most Tricky Forex Trading Styles

If you are new to the world of Forex trading then, before you even think about making your first trade, you need to sit down and draw up a Forex trading strategy. The foreign currency market is one of the most exciting and lucrative markets in the world, but it is also extremely fast moving and volatile and, while you can make tremendous profits, you can also make substantial losses if you don not have a very clearly defined game plan.


There are a number of different strategies which you can adopt for trading in the currency markets and you will need to come up with a strategy that suits you. At the end of the day exactly what strategy you decide to adopt is largely immaterial but, what is important, is that have you a strategy before you start to trade.


Many traders today choose to base their strategy on a technical approach to trading while others prefer to follow a fundamental approach. Both approaches are fine but the truly successful traders will tell you that the real secret lies in not selecting one or the other but in combining the two.


Technical analysis holds that prices follow trends and that markets possess clearly identifiable patterns which can be recognized if you know what you are looking for. Both knowledge and experience play an important role in technical analysis but here it is a case of knowledge and experience of not just the patterns in the market but of working with the barrage of tools which are know available to the technical analyst.


Within technical analysis many traders like to work with what are called support and resistance levels. In this case a support price is a low price to which a currency repeatedly returns, effectively representing the bottom of the market or the price at which it supports the market. By contrast, a resistance price is the high price which a currency reaches from time to time but above which it tends to resist rising.


The importance of these two levels is that once a currency price drops below its support level it will commonly continue to fall and, similarly, once the price exceeds its resistance level it will continue to climb.


It is also common for technical analysts to make use of moving averages which show the average price of a currency over a given period of time within a longer period. This is extremely useful for eliminating short term fluctuations in a currency price and producing a clearer picture of the movement of a currency over time.


These of course are just two of the many tools available to Forex traders who are following a technical approach and there is a wide range of far more complex and powerful tools available today.


In addition to technical analysis, many traders also believe strongly in fundamental analysis which holds that currencies move in response to a wide range of factors including political events, changes in trade agreements and trading patterns, economic numbers, interest rates, employment figures and much more.


Fundamental analysis is clearly a complex area which requires considerably knowledge and experience to master, which is probably one reason why many new traders are fairly easily drawn towards technical analysis and tend to use fundamental analysis to a limited degree at first while they acquire the necessary knowledge and skills to put it to work effectively.


Both technical and fundamental analyses are of course not in themselves trading strategies but are the foundation on which you will need to build your trading strategy. Your starting point should be to decide upon the basis on which you are going to analyze the market and thus make your trading decisions. Once this has been done you then need to look carefully at the mechanics of your trading and it is detailing just how you intend to trade that forms your trading strategy.

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My Favorite Mini Auto Trading Forex Accounts

My Favorite Mini Auto Trading  Forex Accounts

An auto trade mini forex account uses the same trading platform as any other regular automated forex trading account. The only major difference is the account size, which is much small than a standard account. You can open up a mini forex trading account with as low as $50. Auto trade mini forex account can be a great option for you if you are a new investor in the forex trading market. Internet based auto trading has revolutionized and intensified the advantages of operating a mini forex account by many fold.

The steps you need to follow for opening an auto trade mini forex account are quite simple. First you have to select a brokerage firm that is offering their services to open an auto trade mini forex account. Fill in some personal details like your name, address, contact number, e-mail address, and the specific type of account you like to open. After filling in this online query form, you can directly open your mini account. Many agencies now accept $50 to open an auto trade forex mini account, but in an extremely volatile market as forex and because of high leverage, it is better to invest at least $2000.

There are quite a few advantages of an auto trade mini forex account. The mini accounts are perfectly suited for those who are new to the forex market. The mini accounts trade in smaller contract sizes, which gives the traders the opportunity to trade with less risk or exposure to the market. This smaller trade size also helps the trader to build confidence. As the trading is completely automated, you can experiment with the features of the trading platform and judge the efficiency of the system.

As the pip value on any mini account is just $1 per pip, you can develop a disciplined trading strategy while handling an auto mini forex account. Moreover, you learn to overcome your tendency of emotional trading, which, at times, leads to irrational trading decisions. You also learn to limit losses and decide your entry and exit points. 

Auto trade mini forex account gives you more staying power in the market. This enables you to take advantages of multiple opportunities without over-leveraging your account. Most of the auto mini forex account provides user-friendly trading software. It has all the interactive and useful features of a standard rapid execution from live, streaming prices. 

In some currency pairs like EUR/USD etc., a one-pip movement in the exchange rate is equal to a one dollar gain or loss in the account value per lot. Usually the auto trade mini forex account offers a spread of 3 or 5 pips on most currencies. So, open an auto mini forex account to master the art of trading before venturing into the market with high volume of investment.

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The Best Mobile Software for Trading the Forex

The Best  Mobile Software for Trading the Forex

Forex Mobile Trading is a unique service that has been developed to allow the investors and traders worldwide to trade and manage their accounts from anywhere in the world using their mobile handsets or PDAs.Forex mobile trading softwareworks with the same efficiency as any other automated forex trading stations.


Forex mobile trading softwareenables investors to:


trade Forex with the same ease as would have done with desktop or laptop computers.
view real time prices, access live charts with technical indicators.
view a real time account summary and historical account information.
have a sound alert notifying them the changes in the market.
receive technical analysis and updates from the market.


The forex mobile trading software includes all necessary components for brokerage services via internet including the operations of the back office and dealing desk. Once the forex mobile trading software is installed on your PDA or communicator, you can get quotes and news in the real-time mode and can perform all usual trade operations. The trader will also be able to control and manage open positions and pending orders.




In order to make trading decisions, you need prompt and reliable information. The forex mobile trading software is the ideal solution as now one can analyze and trade in forex using live real time quotes from anywhere in the world and when ‘on the go’.




Forex mobile trading software needs specific computer operating system and the latest technology based mobile sets. To install the forex mobile trading software, you will have to download it in your PDA or any other bluetooth enabled mobile set. Once installed, the mobile set works exactly as yourdesktop or laptop personal computer. Many companies now offer the software with the facility of free testing period. After that you simply register and start working if you find the software to be satisfactory.




The next step will be to open an account using the forex mobile trading software. For example, you can open a demo accounts or a real account. Demo accounts will enable you to work under training conditions, without real money. But you will be allowed to work and test trading strategy.




With a real account, your forex mobile trading software establishes a connection between the server of the agency and your mobile set. You can manage the trade account and can accesses the market information.




These forex mobile trading software are safe and secured. As the systems work with password protection and necessary firewall techniques, your personal data is protected and safe. The forex mobile trading softwareensures security of trading as well. Advanced security systems based on digital signature algorithm of RSA are even smarter. It provides nearly full proof security system based on electronic digital signatures.




With advanced features of your mobile set, you can even customize the forex mobile trading software and the appearance as well. For efficient and faster operations, you can decide on a suitable number of popup at any point of time. To use the mobile as a phone you can simply disable the forex mobiletrading software and again enable it once the call is over. So the forex mobiletrading software is the perfect mobile solutions for your forex trading in this fast paced mobile life.

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Completely Automated and Managed Forex Accounts

Completely Automated and Managed Forex Accounts



An automated managed forexaccount allows you to trade professionally when your investments are managed by a single or group of experiencedbrokers or automated system with a limited power of attorney agreement.


The automated forex managed account is designed and monitored by professional money managers with many years of trading and market experience. You retain complete access to your account and control over your funds at all times. As the forex market is the most liquid financial market in the world, it provides an excellent opportunity for investing if they are managed professionally.


With the widespread application of internet in forex trading, many vendors now offer their services to manage your forex account professionally, electronically, and automatically. They employ unique mechanical tradingstrategies with layered approach to the markets that is supported with multiple strategies, currency pairs, and time frames to achieve maximum return with the lowest volatility possible.


These managed forex accounts are fully automated in terms of trade generation and execution. But it may have discretion in the monitoring of position sizing and risk management. Although these accounts are automated, they are monitored round the clock by executives to ensure the integrity of the technology and functioning of the trading platform. As the broker agencies have access to rates from multiple banks, it allows them to trade on the narrowest of spreads with a low rate of slippage. Therefore they can pass along this advantage to you, to maximize profitability and minimize losses.


A typical automated managed forex account programs may ask for a minimum deposit of $10000 but it may also have options of lower account sizes. The broker asks for a performance fee, which ranges from 15. A typical automatedmanaged forex account may seek a transaction fee of 1.0 pip.


An automated managed forex account works with low leverage to limit risk while still generating above average results. A typical account is designed as a long-term investment plan. You may hold some positions for days, weeks, or months. With automated managed forex account you receive all the benefitsof trading experience and trading system without the trouble or time of undertaking the trades yourself.


The broker who is managing your automated forex account has limited power of attorney to trade your account. You only have the deposit or withdrawal authorization. You will have access to your account, which will enable you to track your account equity and balance in real-time. You can create account statements online anytime during the day.


The agents manage your forex trading account during open market hours, even during odd market hours and it takes advantage of short-term opportunities in the forex market. Entry and exit trades can be executed faster using automation instead of manual entry. The services can be combined with other managed accounts to add diversification to your entire portfolio. But it can also be used as a standalone managed account.


Few advantages of the automated managed forex trading are:
Low minimum investment
The accounts are created and monitored by experienced money managers
The accounts are managed while the market is open
Accounts offer increased diversification with other investments
Accounts are not tied to traditional financial markets
Investments are short-term in nature 

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