Here we are going to give you some currency basics and this involves 10 essential tips you must do and 10 tips on common mistakes which you must avoid to enjoy long term currency trading success.
Let's start with 10 common errors you just avoid.
1. Don't Day Trade
It doesn't work because short term volatility is random and prices can and do vary anywhere in a day and you have the odds firmly against you and will lose longer term.
Ever seen a day trader with a long term track record of success? No neither have I, so avoid it and trade longer term trends where you can get the odds on your side.
2. Don't Try and Predict
Predicting is simply hoping and guessing and won't get you far - trade the reality of price change. No one knows the future and your predictions will end up as accurate as your horoscope!
3. Don't use Science
Don't believe anyone who tells you markets move to a scientific formula they don't - if they did we would all know the price in advance and there would be no market.
Trading is a game of odds - not certainties, but you can win if you know and trade the odds. You won't win every trade but over the longer term you can pile up huge FX profits.
4. Don't Trade Scared Money
If you can't afford to lose stay away, forex markets are extremely risky and if you are worried about losing your discipline will break down and you will lose
5. Don't follow a guru blindly
To follow a forex trading system you must have confidence in it and know how it works or you won't be able to follow it with discipline - if you can't follow it with discipline you have no system at all.
6. Don't believe experts
News stories are convincing - but that's all they are stories from journalists and they are normally dead wrong about every major market turning point. Don't believe everything you read!
7. Don't buy low and sell high
Great theory - doesn't work, it means you must predict again where highs or lows will form.
The fact is most major market moves start from new market highs NOT market lows. Learn to buy these breaks as the odds are in your favor and you normally see huge trends develop if, the breakout is from a valid resistance level.
8. Don't complicate your trading system
Simple systems work best, as they are more robust in the face of brutal market conditions - over-complicate your forex trading system and it will have too many inputs - which will break.
9. Acquire Knowledge for the sake of it
You will often hear people say "the more knowledge you have, the better" - but in forex trading you need just the right knowledge.
You don't get paid for work rate you get paid for being right and that's it.
10. Don't overtrade
Most novice traders simply over trade and lose.
They think the more often they trade with their forex trading system, the more chance they have of winning or if they are in the market they are bound to catch a major move - dead wrong.
You don't get a reward for trading often, so don't - only trade high odds set ups, be patient and wait for them.
If you want to learn forex trading correctly and get the right forex education, to enjoy forex success these are all errors to avoid. When developing your forex trading strategy keep the above points firmly in mind, these are the basic errors of currency trading and must be avoided if you want to get on the road to regular profits.
Sunday, January 11, 2009
The Best Hours for Forex Trading
Forex (foreign exchange) is a highly dynamic market with lots of price oscillations in a single minute, this characteristic of the Forex market allows traders to enter the market many times a day and pull some profit from these number of trades. If you want to find an appreciable number of profitable trades you need to enter the forex market at the best period of time, i.e., when the activity, the volume of transactions, is the highest. More information can be found at http://www.1-forex.com
The main timing characteristics of the Forex market are the following:
* The Forex market is a 24 hour market – It starts from Sunday 5.00 pm EST through Friday 4.00 pm EST. Rollover at 5.00 pm EST
* Forex Trading begins in New Zealand, followed by Australia, Asia, the Middle East, Europe, and America
* The US & UK account for more than 50% of the market transactions
* Forex Major markets: London, New York, Tokyo
* Nearly two-thirds of New York activity occurs in the morning hours while European markets are open
* Forex Trading activity is heaviest when major markets overlap.
From this timing facts, it is quite visible that at any given time, somebody somewhere in the world is buying and selling currencies. As one forex market closes, another forex market opens. Business hours overlap, and the exchange continues as day becomes night and night becomes day.
The great liquidity of Forex (foreign exchange), combined with a market that's traded 5.5 days a week around the world, offers you an exceptional independence and choices to trade Forex when you want to and not when the market wants you to do it. Trades always develop with relatively the same frequency, regardless of time. As long as the Forex market is open, there is about the same probability that you will find a trade, whenever your look for it.
During each trading day, the total Forex “volume” is determined by the number of markets that are open and the times each of these markets overlap one another.
Forex market volume of transactions remains high during the whole day, but peaks highest when the Asian market (including Australia & New Zealand), the European market and the U.S. market are open simultaneously. And these are forex trading hours you must target in order to find the highest possible amount of profitable trades.
This is the breakdown of OPEN Market Times for your reference:
* New York Market trade times: 8am-4pm EST
* London Market trade times: 2am-12Noon EST
* Great Britain Market trade times: 3am-11am EST
* Tokyo Market trade times: 8pm-4am EST
* Australia Market trade times: 7pm-3am EST
If you pay attention to the last schedule you will notice that there are two times when two of the major markets overlap during trading hours; between 2am and 4am EST (Asian/European) and between 8am to 12pm EST(European/N. American).
So here you have it, if you want to find a great number of profitable trades, focus on the hours when the markets tend to make their biggest moves, i.e., during these big markets overlaps, which therefore, are usually the Best Times to Trade.
Forex Trading Guide: What are the World Time Zones?
GMT, EST, PST, and CET
GMT (also known as UTC or Coordinated Universal Time) is the time along the Prime Meridian (0 degree longitude) which passes through Greenwich, England. It is the standard time used in the field of astronomy, meteorology and other scientific disciplines around the world, and the standard used to reference market data from all countries around the world participating in the world market.
EST or Eastern Standard Time is five(5) hours late of GMT, while PST or Pacific Standard Time is late by eight(8) hours. Hence, if a market data will be coming out in EST, just add five(5) hours to get the time in GMT. To convert PST to GMT, just add eight(8) hours.
CET or Central European Time is one(1) hour ahead of Greenwich Mean Time (GMT). Note that during summer daylight saving time/summer time is observed, and CEST (Central European Summer Time) is used instead (GMT + 2 Hours).
Daylight Saving Time (DST)
From the last Sunday in October through the last Saturday in March standard time in the United States of America and other European countries is noted as Central Standard Time (CST), (EST), (MST) or (PST). During summer, that is, from the last Sunday in March through the Last Saturday in October, daylight savings time is noted as Central Daylight Time (CDT), (EDT), (MDT) or (PDT) which is one hour added to standard time. So to convert EDT to GMT, just add four(4) hours. Below is a summary of the conversions, this time converting GMT to EST or PST.
GMT (also known as UTC or Coordinated Universal Time) is the time along the Prime Meridian (0 degree longitude) which passes through Greenwich, England. It is the standard time used in the field of astronomy, meteorology and other scientific disciplines around the world, and the standard used to reference market data from all countries around the world participating in the world market.
EST or Eastern Standard Time is five(5) hours late of GMT, while PST or Pacific Standard Time is late by eight(8) hours. Hence, if a market data will be coming out in EST, just add five(5) hours to get the time in GMT. To convert PST to GMT, just add eight(8) hours.
CET or Central European Time is one(1) hour ahead of Greenwich Mean Time (GMT). Note that during summer daylight saving time/summer time is observed, and CEST (Central European Summer Time) is used instead (GMT + 2 Hours).
Daylight Saving Time (DST)
From the last Sunday in October through the last Saturday in March standard time in the United States of America and other European countries is noted as Central Standard Time (CST), (EST), (MST) or (PST). During summer, that is, from the last Sunday in March through the Last Saturday in October, daylight savings time is noted as Central Daylight Time (CDT), (EDT), (MDT) or (PDT) which is one hour added to standard time. So to convert EDT to GMT, just add four(4) hours. Below is a summary of the conversions, this time converting GMT to EST or PST.
Online Forex Trading Can Make You Rich, But Watch Out!
Foreign currency exchange trading (Forex Trading) is creating a lot of buzz in investment circles, because it's making many people very wealthy. Unlike the New York Stock Exchange, the forex trading market is open twenty-four hours a day. You can literally trade from sun up to sun down in the forex market.
The reason why so many people want to learn how to trade forex is because they hear stories about average folks, who have become forex traders, putting some money into a few good trades and making themselves a bundle - we're talking thousands of dollars.
Is this kind of success in currency trading possible for you?
Yes, and no.
Yes, it is absolutely possible for you to learn how to analyze the forex market and pick winning trades. However, this success will not come overnight and will not come without some study and practice on your part.
Was that a buzz kill?
I hope not. It's just a little cold water being splashed in your face. Look, online forex trading can be a little like gambling in Vegas. You've got your cash on hand, you're sitting there at your computer looking at all the forex charts and currencies: dollar, yen, euro, etc.
You're just itching to make some trades and even though you're still green under the gills, you're ready to jump in on that hot tip you got from your fellow forex trading buddy. The rent money's due and you've got bills to pay, but you just know that if you make this one trade - you'll make big bank!
Okay, this is where the excited new forex traders get happy, go all in and then . . . lose lots of money they can't afford.
That's right. While experienced forex traders are making nice profits on that hot tip, the newbies are getting wiped out clean, because they really don't know what they're doing and are betting their hard earned cash based on pure emotions. The first thing you need to learn about trading currencies is that you should NEVER make a trade like a gambler sitting at a roulette table letting it all ride on red.
The best forex traders are the ones that know how to keep their cool.
The best forex traders also learn how to read the forex news and analyze what trades they think are best given certain market conditions. Another golden tip is that you should never invest money that you need to keep a roof over your head, food in the fridge and the lights on at home. People who do this are gamblers and we already know that gamblers lose most of the time.
Successful forex traders have learned to risk no more than 2-3% of their total forex trading account. So, while they may make thousands, these investors have learned how to build on their success. When you have a winning trade, you take that money and invest it again and again.
To be safe, while you are learning how to trade in the forex market, you shouldn't use real money period. You can open a demo forex trading account and make your trades without risking a cent. This way, when you lose, you can study that mistake and try to correct it. While all investors, even successful ones, lose money, you'll be learning how to minimize your losses and increase your winning trades.
The reason why so many people want to learn how to trade forex is because they hear stories about average folks, who have become forex traders, putting some money into a few good trades and making themselves a bundle - we're talking thousands of dollars.
Is this kind of success in currency trading possible for you?
Yes, and no.
Yes, it is absolutely possible for you to learn how to analyze the forex market and pick winning trades. However, this success will not come overnight and will not come without some study and practice on your part.
Was that a buzz kill?
I hope not. It's just a little cold water being splashed in your face. Look, online forex trading can be a little like gambling in Vegas. You've got your cash on hand, you're sitting there at your computer looking at all the forex charts and currencies: dollar, yen, euro, etc.
You're just itching to make some trades and even though you're still green under the gills, you're ready to jump in on that hot tip you got from your fellow forex trading buddy. The rent money's due and you've got bills to pay, but you just know that if you make this one trade - you'll make big bank!
Okay, this is where the excited new forex traders get happy, go all in and then . . . lose lots of money they can't afford.
That's right. While experienced forex traders are making nice profits on that hot tip, the newbies are getting wiped out clean, because they really don't know what they're doing and are betting their hard earned cash based on pure emotions. The first thing you need to learn about trading currencies is that you should NEVER make a trade like a gambler sitting at a roulette table letting it all ride on red.
The best forex traders are the ones that know how to keep their cool.
The best forex traders also learn how to read the forex news and analyze what trades they think are best given certain market conditions. Another golden tip is that you should never invest money that you need to keep a roof over your head, food in the fridge and the lights on at home. People who do this are gamblers and we already know that gamblers lose most of the time.
Successful forex traders have learned to risk no more than 2-3% of their total forex trading account. So, while they may make thousands, these investors have learned how to build on their success. When you have a winning trade, you take that money and invest it again and again.
To be safe, while you are learning how to trade in the forex market, you shouldn't use real money period. You can open a demo forex trading account and make your trades without risking a cent. This way, when you lose, you can study that mistake and try to correct it. While all investors, even successful ones, lose money, you'll be learning how to minimize your losses and increase your winning trades.
Forex Trading Guide - Tips & Tricks To Success
Looking for tips and tricks to succeed on the Forex market? They say that knowledge and wisdom come from experience and I have to generally agree with this statement. As such, I have gleaned a great deal of this wisdom from those that have gone before me in the Forex market. As a result of gleaning this Forex trading wisdom I have compiled a list of tips and tricks to succeed on the Forex market.
1. FOREX TRADING TIP In the Forex market there will always be bullish and bearish market patterns. It is vital that you find the dominant trends of forex. Never fight the trend. Remember the old adage, "The trend is your friend."
2. FOREX TRADING TIP Buy the rumor and sell the news. This is how to beat the Big money which counts on the small forex trader to be naïve and impulsive.
3. FOREX TRADING TIP If a currency is overbought it is time to get out immediately. Do not fight this as it is almost always a losing position.
4. FOREX TRADING TIP If you find yourself wishing, you will eventually find yourself losing. If you do not have a reason to be in a move, then get out.
5. FOREX TRADING TIP If you are having intense relationship stress or are physically sick wait until a better time to trade in the forex market, as emotionally taxing issues WILL have an impact on your trading.
6. FOREX TRADING TIP If you feel the need to get in a move because it is a "golden opportunity that rarely comes along" you are better off not rushing into it. The truth is that there are always going to be great opportunities available. Be patient.
These are just a few but tried and true tips and tricks for gaining an advantage on the Forex market and after all, we can all use an advantage.
1. FOREX TRADING TIP In the Forex market there will always be bullish and bearish market patterns. It is vital that you find the dominant trends of forex. Never fight the trend. Remember the old adage, "The trend is your friend."
2. FOREX TRADING TIP Buy the rumor and sell the news. This is how to beat the Big money which counts on the small forex trader to be naïve and impulsive.
3. FOREX TRADING TIP If a currency is overbought it is time to get out immediately. Do not fight this as it is almost always a losing position.
4. FOREX TRADING TIP If you find yourself wishing, you will eventually find yourself losing. If you do not have a reason to be in a move, then get out.
5. FOREX TRADING TIP If you are having intense relationship stress or are physically sick wait until a better time to trade in the forex market, as emotionally taxing issues WILL have an impact on your trading.
6. FOREX TRADING TIP If you feel the need to get in a move because it is a "golden opportunity that rarely comes along" you are better off not rushing into it. The truth is that there are always going to be great opportunities available. Be patient.
These are just a few but tried and true tips and tricks for gaining an advantage on the Forex market and after all, we can all use an advantage.
Forex Trading: 3 Key Tips For Huge Forex Profits
Here we are going to look at the 3 key points you must consider if you wish to achieve forex trading success. Fail in any of these areas of forex trading and you will lose.
1. Get the Right Forex Trading Education
To make money at forex trading you don't need to work particularly hard - but you do need to get the right knowledge and learn forex trading. Most forex traders don't and fall victim to common forex trading myths. Here is a list of these common forex trading myths, believe any of them and you are guaranteed to lose.
- You can make money with forex day trading
- You can predict forex prices in advance
- You should buy low and sell high to make money
- You can trade off news stories
- You need a complicated forex trading strategy to win
- You can follow a simulated system from a vendor and make money
- Forex trading is easy
Believe any of the above and you can say goodbye to your equity.
If you want to get the right forex education and knowledge you need to spend some time learning the basics of trading forex and developing a strategy you understand, because this leads onto the next vital ingredient for currency trading success:
2. Confidence
Most novice forex traders simply think they can make money following someone else or trading news stories. They have no idea how and why the markets move and when they hit a few losses, they have no confidence in what they're doing and that's the end of their forex career and their equity.
Now let's look at the vital ingredient all traders need to succeed that flows from confidence:
3. Discipline
If you don't have confidence in what you are doing, then you will never have the discipline to sit through a period of losses and wait for winning trades to return.
One of the biggest myths of forex trading is that you can earn a consistent living and a regular monthly income - its rubbish you can't!
Even the best traders will spend weeks or months in periods of drawdown and you will too. Sure, you can make huge gains over the longer term - but they do not spread evenly across the year.
If you don't have the discipline to take short term periods of drawdown and still keep trading, you don't have a forex trading method at all.
If you want to win at forex trading the good news is:
If you work smart, you can learn to trade in just a few weeks.
If you avoid the myths and get the forex trading knowledge, you will be confident in what you are doing. From this understanding and confidence you will achieve discipline. You need the discipline to stay with your forex trading method through short term losses and stay with your system to achieve longer term success.
95% of traders lose and this group simply do not understand that to make big profits, you need to have a simple robust trading system; you have confidence in and the discipline to follow it.
If you understand the above you will be able to put the 3 building blocks of forex trading together and achieve forex trading success - it really is that simple.
1. Get the Right Forex Trading Education
To make money at forex trading you don't need to work particularly hard - but you do need to get the right knowledge and learn forex trading. Most forex traders don't and fall victim to common forex trading myths. Here is a list of these common forex trading myths, believe any of them and you are guaranteed to lose.
- You can make money with forex day trading
- You can predict forex prices in advance
- You should buy low and sell high to make money
- You can trade off news stories
- You need a complicated forex trading strategy to win
- You can follow a simulated system from a vendor and make money
- Forex trading is easy
Believe any of the above and you can say goodbye to your equity.
If you want to get the right forex education and knowledge you need to spend some time learning the basics of trading forex and developing a strategy you understand, because this leads onto the next vital ingredient for currency trading success:
2. Confidence
Most novice forex traders simply think they can make money following someone else or trading news stories. They have no idea how and why the markets move and when they hit a few losses, they have no confidence in what they're doing and that's the end of their forex career and their equity.
Now let's look at the vital ingredient all traders need to succeed that flows from confidence:
3. Discipline
If you don't have confidence in what you are doing, then you will never have the discipline to sit through a period of losses and wait for winning trades to return.
One of the biggest myths of forex trading is that you can earn a consistent living and a regular monthly income - its rubbish you can't!
Even the best traders will spend weeks or months in periods of drawdown and you will too. Sure, you can make huge gains over the longer term - but they do not spread evenly across the year.
If you don't have the discipline to take short term periods of drawdown and still keep trading, you don't have a forex trading method at all.
If you want to win at forex trading the good news is:
If you work smart, you can learn to trade in just a few weeks.
If you avoid the myths and get the forex trading knowledge, you will be confident in what you are doing. From this understanding and confidence you will achieve discipline. You need the discipline to stay with your forex trading method through short term losses and stay with your system to achieve longer term success.
95% of traders lose and this group simply do not understand that to make big profits, you need to have a simple robust trading system; you have confidence in and the discipline to follow it.
If you understand the above you will be able to put the 3 building blocks of forex trading together and achieve forex trading success - it really is that simple.
Forex Trading: How To Make Money Fast With Forex Trading?
So you want to make money fast? Well the good news is the method enclosed gives anyone the potential to not only make a living but build wealth and the even better news is - you don't need much money to get started and its simple - ANYONE can do it.
So what is the method for making money fast?
It is becoming a currency - forex (foreign exchange) trader from home.
Many people think forex trading is complicated or requires a lot of money neither is true. Anyone can learn forex trading, it's a specifically learned skill and today online, you can get started with just a few hundred dollars.
So how can you let alone making a living, make money fast on a few hundred dollars?
The answer is leverage.
Once you open an account online with a forex broker, they will let you trade 200 times your deposit. For example, put down $500.00 and they will let you trade $100,000 (200 x 500). Of course leverage can work for or against you - but if you cut your losses quickly and run your profits, you can start making a living from forex trading and build wealth over time.
Consider these other advantages to:
- You can learn forex trading in a few weeks
- You only need a computer and an internet connection
- You need just 30 minutes a day for trading forex online
- You can take holidays when you wish
- There are always opportunities as one currency rises another must fall
- Currencies are volatile and you can seek profits every day.
If you want to learn forex trading, the best way to trade is simply to study price action on a chart and take advantage of repetitive chart patterns, which can give you high odds set ups to trade. You won't win every trade but you will win more than you lose and build profits and with leverage working for you, you can make money fast with forex trading.
Why do chart patterns repeat?
Quite simply because human nature is constant and this means what has happened in the past, happens again and again.
If you learn to trade with forex charts you are not concerned with why prices move, you are simply going to take advantage of these moves when they do.
Forex trading is one of the few ways for trader's to start with small stakes, earn a living and even build wealth quickly. If you trade with discipline and learn the right knowledge you can soon be trading confidently and profitably, in the world's most exciting business.
If you have never considered making money fast by being a currency - forex trader from home - take a closer look at it and you may be glad you did.
So what is the method for making money fast?
It is becoming a currency - forex (foreign exchange) trader from home.
Many people think forex trading is complicated or requires a lot of money neither is true. Anyone can learn forex trading, it's a specifically learned skill and today online, you can get started with just a few hundred dollars.
So how can you let alone making a living, make money fast on a few hundred dollars?
The answer is leverage.
Once you open an account online with a forex broker, they will let you trade 200 times your deposit. For example, put down $500.00 and they will let you trade $100,000 (200 x 500). Of course leverage can work for or against you - but if you cut your losses quickly and run your profits, you can start making a living from forex trading and build wealth over time.
Consider these other advantages to:
- You can learn forex trading in a few weeks
- You only need a computer and an internet connection
- You need just 30 minutes a day for trading forex online
- You can take holidays when you wish
- There are always opportunities as one currency rises another must fall
- Currencies are volatile and you can seek profits every day.
If you want to learn forex trading, the best way to trade is simply to study price action on a chart and take advantage of repetitive chart patterns, which can give you high odds set ups to trade. You won't win every trade but you will win more than you lose and build profits and with leverage working for you, you can make money fast with forex trading.
Why do chart patterns repeat?
Quite simply because human nature is constant and this means what has happened in the past, happens again and again.
If you learn to trade with forex charts you are not concerned with why prices move, you are simply going to take advantage of these moves when they do.
Forex trading is one of the few ways for trader's to start with small stakes, earn a living and even build wealth quickly. If you trade with discipline and learn the right knowledge you can soon be trading confidently and profitably, in the world's most exciting business.
If you have never considered making money fast by being a currency - forex trader from home - take a closer look at it and you may be glad you did.
Forex Software
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Make Money Fast In FOREX Trading
Here we are going to look at making money fast in currency trading and some tips to do it.
Much of this advice is not conventional but most currency traders don’t make money fast!
Here are your tips
We are going to assume you trade already, and you have a method you are confident in, and can apply with discipline.
With simple changes in trades taken and money management we will show you how to increase your capital gains.
The trading tips below will work well for traders who want to catch the big profits from the big currency trends that last months or years and will help you make money fast in forex trading.
1. Accept Volatility and Risk
All good FOREX traders understand that volatility and risk mean big money making potential.
You can't have a profitable FOREX trading method without taking risk, you need to risk more to gain more. .
Risk though is misunderstood by most currency traders and they try and limit risk so much that they actually have no chance of making any profits.
They always get stopped out.
The perfect example is the day, or intra day trader, trading in one session with a tight stop.
If you are after a big gain give the trade room to breathe and place a stop that takes into account market volatility.
Also don’t trail your stop to quickly leave it far enough behind not to get stopped out by volatile reactions within the long term trend.
You can’t predict volatility in the day so don’t try.
Look longer term take bigger calculated risks and go for bigger profits and trade less.
2. Trade Infrequently
Many traders trade frequently and always like to be in the market, they fear they will miss a move, or that by trading more frequently, they will make money.
There is no correlation between how often you trade and how much money you make, so learn to be patient.
The big moves in FOREX trading, with the best risk to reward, come a few times a year, and you should trade infrequently.
Focus on the trades that make the really big gains and be patient while you wait for them.
3. Don’t Diversify
Diversification is a great way to make money slowly not fast you simply are diluting your gains, if you are trading a small forex account.
Focus only on trades that you are confident can make big money in and don’t hedge or take other trades.
If you think the trade is going to be big back your judgment.
4. Money Management
We are looking at the BIG opportunities that allow us to make big gains, and this is actually, where money management becomes important.
Where taking calculated risks here not just taking risk for the sake of it.
The tips below are a great way of controlling risk
1. Buying options at in or close to the money, they will give you staying power and stop you getting taken out by volatility.
Be careful not to buy out the money options and make sure that you get plenty of time on your side if using this method.
Many traders lose, not because they were wrong about the trend, they simply got stopped out.
Options overcome this problem and will give you staying power.
2. Many traders start trailing their stops to close as we said earlier to lock in a profit, more often than not they get stopped out.
The trade runs on to make thousands more in profit and there not in it!.
Keep your stop in its original position and let the move develop without the temptation to move your stop up.
You’re looking to make money fast, and you’re trading selectively so have the courage of your conviction .
Consider this
The fact is in currency trading or any other venture in life that involves making big gains you have to take a calculated risk at the right time and have the courage to go for it.
I read all the time about risk management in trading and some traders become so obsessed with not losing they will actually never win and lose their equity over time.
Don’t make the same mistake.
Free Forex Trading on Marketiva
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What is Marketiva?
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May I open a test account and try the system first?
Because live and virtual trading desks co-exist within one Marketiva account, you may try our system with a regular account and later use the same account for live trading. In any case, you can open your Marketiva account for free!
How much money do I need to start trading right now?
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Before you can start trading, you need to open an account with us (it is free) and download our trading platform (Streamster). To open your account, please visit:
What is Marketiva?
With more than 410,000 serviced users, 240,000 unique and live trading accounts, and more than 3.5 million live orders executed each month, Marketiva is one of the most popular over-the-counter market makers in the world.
May I open a test account and try the system first?
Because live and virtual trading desks co-exist within one Marketiva account, you may try our system with a regular account and later use the same account for live trading. In any case, you can open your Marketiva account for free!
How much money do I need to start trading right now?
With its flexible quantity specifications and $5 cash reward, Marketiva allows you to start trading with no money down. Due to strict lot specifications, many other over-the-counter market makers require at least $500 to start with.
Where and how do I start?
Before you can start trading, you need to open an account with us (it is free) and download our trading platform (Streamster). To open your account, please visit:
Important!:
1. Please use valid informations such as Real Name, Full Address, Phone Number, Postal Code, City and Country. If you use fake informations, your account will be Automatically Deleted by Marketiva System.
2. You will need to provide Identification Document and Address Confirmation Document. Your Can use National Identity Card, Drivers License, Passport or any other Official Documents with your Name, Photo, and Full Address issued by Government. If your document does not have address, you will need to provide additional Address Confirmation Document. You can use any official document with your Name (at least family name), Full Address, and Official Stamp. Affidavit Letter, Bank Account Statement, Electric, Phone, Gas, or other Utility Bill will be accepted for address confirmation document, remember that all documents have to be in your own name with your full address.
3. Identification documents should be uploaded at:
https://www.marketiva.com/index.ncre?page=identification
1. Please use valid informations such as Real Name, Full Address, Phone Number, Postal Code, City and Country. If you use fake informations, your account will be Automatically Deleted by Marketiva System.
2. You will need to provide Identification Document and Address Confirmation Document. Your Can use National Identity Card, Drivers License, Passport or any other Official Documents with your Name, Photo, and Full Address issued by Government. If your document does not have address, you will need to provide additional Address Confirmation Document. You can use any official document with your Name (at least family name), Full Address, and Official Stamp. Affidavit Letter, Bank Account Statement, Electric, Phone, Gas, or other Utility Bill will be accepted for address confirmation document, remember that all documents have to be in your own name with your full address.
3. Identification documents should be uploaded at:
https://www.marketiva.com/index.ncre?page=identification
Forex Trading Signals Service - Buy and Sell Forex Signals
* Focus on just one time frame each day
* Accurate Buy and Sell Alerts with Entry, Exit and Stop-Loss Points
* Web-based, E-mail & SMS Alerts
* Real-Live Forex Trading Account Log
“This service was strictly designed to help you generate income from the Forex market, regardless of your current knowledge or trading skills.”
This Forex Trading Signals Service gives very valuable information and when used can very will help you to make unbelievable profits in forex trading.
Having accurate, up to date and understandable information goes along way in trading.
* Accurate Buy and Sell Alerts with Entry, Exit and Stop-Loss Points
* Web-based, E-mail & SMS Alerts
* Real-Live Forex Trading Account Log
“This service was strictly designed to help you generate income from the Forex market, regardless of your current knowledge or trading skills.”
This Forex Trading Signals Service gives very valuable information and when used can very will help you to make unbelievable profits in forex trading.
Having accurate, up to date and understandable information goes along way in trading.
Forex Trading Signals
GCI offers its clients free Forex trading signals from ForexSignals.net! If you are not yet a GCI client, you can try a free practice account by submitting the form below. The practice account is a no-risk way to test our trading software and online execution. Visit ForexSignals.net for details on their performance and methodology.
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Live prices in Forex, options, shares, indices, and commodities. Just click on the price to place a trade.
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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.
*
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.
Disadvantages of the Automated Forex Trading
In my last post I’ve described the best advantages of the automated Forex trading. But, of course, I understand that the trading using the expert advisors isn’t always something good. Everything has its own pros and cons; so the automated trading has its own disadvantages and I’ll try to describe them in this article:
1. No intuition to help your trading. Computers and programs simply don’t have anything similar to that mystical human feeling. While some traders don’t think that the intuition can be helpful in trading, others rely on it — such traders probably won’t be pleased with the automated trading.
2. Smooth trade execution and uninterrupted run-time of the expert advisors is critical with many trading systems. Unfortunately, it’s something very hard to achieve running EA from your home or work PC. That means that you’d require some dedicated server to run your automated trading.
3. Some types of strategies are simply impossible to implement into the real expert advisors. The chart pattern or wave analysis and fundamental analysis are extremely hard to code in the trading program. At the current level of the AI development these tasks are better performed by he live trader manually.
4. The expert advisors should be made quality or otherwise their trading results will disappoint you. Unfortunately, not all expert advisors handle errors and other unexpected events correctly — sometimes this can lead to the huge losses. Moving your working EA from one broker to another can also be a problem, since broker servers differ and what works perfectly on one broker can stop working on another.
As you see, nothing is perfect in this world and, while being the extremely interesting and popular tool, automated Forex trading has its own problems. The wise decision here, in my opinion, would be using both types of trading to your advantage. The systems that can be easily implemented as the expert advisor and are too hard to be traded manually are better to be automated, while the simple systems that involve chart pattern and fundamental analysis are better left for the manual trading.
1. No intuition to help your trading. Computers and programs simply don’t have anything similar to that mystical human feeling. While some traders don’t think that the intuition can be helpful in trading, others rely on it — such traders probably won’t be pleased with the automated trading.
2. Smooth trade execution and uninterrupted run-time of the expert advisors is critical with many trading systems. Unfortunately, it’s something very hard to achieve running EA from your home or work PC. That means that you’d require some dedicated server to run your automated trading.
3. Some types of strategies are simply impossible to implement into the real expert advisors. The chart pattern or wave analysis and fundamental analysis are extremely hard to code in the trading program. At the current level of the AI development these tasks are better performed by he live trader manually.
4. The expert advisors should be made quality or otherwise their trading results will disappoint you. Unfortunately, not all expert advisors handle errors and other unexpected events correctly — sometimes this can lead to the huge losses. Moving your working EA from one broker to another can also be a problem, since broker servers differ and what works perfectly on one broker can stop working on another.
As you see, nothing is perfect in this world and, while being the extremely interesting and popular tool, automated Forex trading has its own problems. The wise decision here, in my opinion, would be using both types of trading to your advantage. The systems that can be easily implemented as the expert advisor and are too hard to be traded manually are better to be automated, while the simple systems that involve chart pattern and fundamental analysis are better left for the manual trading.
Advantages of the Automated Forex Trading
Trading with the expert advisors is seen by many (especially newbie) traders as the «holy grail» possibility. Such traders expect from each EA they find or buy the fast and risk-free profits. Of course, expert advisors are not the «holy grail» in Forex trading. Automated Forex trading is just another tool that can make the trader’s life a bit easier and sometimes even more profitable. Here is the list of the advantages of trading Forex with expert advisors:
1. With expert advisors you can trade during the time you can’t trade manually. You can set up an expert advisor to trade for you when you are asleep, when you are away or when you are too busy to be involved in the market. Of course, you can hire someone else to trade for you, when you are away, but that’s rather ineffective decision.
2. Strict following the trading system is another advantage of the automated Forex trading. If you have a strategy implemented in the expert advisor it will trade according to that strategy without any deviations. If you find it hard to follow your own system without modifying it constantly, try using an EA that would do all the work.
3. Automated trading excludes any emotions form your market behavior. Computers and programs don’t have any emotions and won’t overtrade if they lose. If you are not very good at holding your emotions down, automated trading will definitely help you.
4. Complicated strategies are not a problem for the expert advisors. For the live trader it’s not an easy task to monitor a dozen of indicators and compare each of them to the entry conditions, whereas expert advisors can do that easily and in no time at all.
5. «Errare humanum est» said the Roman stoic; that means that despite your experience in Forex trading, you’ll make a lot of stupid mistakes through your trading career. Computers are not human, and if programmed without errors, expert advisors won’t make any errors during the trading.
6. There are many things a live trader just can’t do — trading on multiple strategies, timeframes and currency pairs simultaneously is one of them. If you want to use your system on several currency pairs and timeframes — use expert advisor. If you want to test several systems at the same time — also use the expert advisor.
7. The time of reaction, analysis and decision making can be critical in many Forex trading systems. Where manual trader just can’t do it fast enough, automated systems will work fine.
1. With expert advisors you can trade during the time you can’t trade manually. You can set up an expert advisor to trade for you when you are asleep, when you are away or when you are too busy to be involved in the market. Of course, you can hire someone else to trade for you, when you are away, but that’s rather ineffective decision.
2. Strict following the trading system is another advantage of the automated Forex trading. If you have a strategy implemented in the expert advisor it will trade according to that strategy without any deviations. If you find it hard to follow your own system without modifying it constantly, try using an EA that would do all the work.
3. Automated trading excludes any emotions form your market behavior. Computers and programs don’t have any emotions and won’t overtrade if they lose. If you are not very good at holding your emotions down, automated trading will definitely help you.
4. Complicated strategies are not a problem for the expert advisors. For the live trader it’s not an easy task to monitor a dozen of indicators and compare each of them to the entry conditions, whereas expert advisors can do that easily and in no time at all.
5. «Errare humanum est» said the Roman stoic; that means that despite your experience in Forex trading, you’ll make a lot of stupid mistakes through your trading career. Computers are not human, and if programmed without errors, expert advisors won’t make any errors during the trading.
6. There are many things a live trader just can’t do — trading on multiple strategies, timeframes and currency pairs simultaneously is one of them. If you want to use your system on several currency pairs and timeframes — use expert advisor. If you want to test several systems at the same time — also use the expert advisor.
7. The time of reaction, analysis and decision making can be critical in many Forex trading systems. Where manual trader just can’t do it fast enough, automated systems will work fine.
Keeping everything simple is a nice strategy in almost all types of activities. Sometimes, simplicity is the only way to become profitable in the Forex trading. Of course, not everyone likes to keep everything simple and not everyone should do that. But simplifying some basic aspects of the Forex trading will help you to avoid unnecessary problems and complications:
1. Simple trading strategy can be as profitable as some really complex systems. By keeping your strategy simple you make it easier to follow and execute it. Adding complexity in the future can be your next level, but trading with a simple strategy is a very good way to start trading on Forex for real.
2. Try to follow a simple money management system — trading with a fixed percentage of your account equity is easy and effective. Martingale system isn’t simple and leads to losses. So, with money management simple is almost always good.
3. Fundamental analysis is a nice tool, but it’s better to avoid reacting on all fundamental news you hear. Keep it simple — select only really important releases or indicators and monitor them when you trade.
4. One of the best ways to simplify your Forex trading is to hold the open positions for a fixed amount of time. This way, your positions are limited not only with the stop-loss and take-profit levels, but also with the time limit. I prefer limiting them to 30, 60, 360 minutes and 1 week periods, depending on the particular strategy.
5. Try not to trade on currency pairs with the base currency different from the one, in which your account is founded. For example, if you trade USD/JPY, while your account is founded in USD, your profit or loss can’t be adequately measured, because it inversely depends on the USD/JPY rate.
6. Look for a Forex broker with the fixed spreads, because trading with the variable spreads can’t be easy. You can’t rely on your strategy, especially if it’s a short-term strategy, if you don’t know the spreads values for sure.
Some traders adore simple approaches to the market, while others hate everything that’s easily understood by high-school graduate and prefer complexity. If you think that you are the one from the first group, then this list will probably help you. If you know some other ways to simplify Forex trading, please, leave a comment to this post.
1. Simple trading strategy can be as profitable as some really complex systems. By keeping your strategy simple you make it easier to follow and execute it. Adding complexity in the future can be your next level, but trading with a simple strategy is a very good way to start trading on Forex for real.
2. Try to follow a simple money management system — trading with a fixed percentage of your account equity is easy and effective. Martingale system isn’t simple and leads to losses. So, with money management simple is almost always good.
3. Fundamental analysis is a nice tool, but it’s better to avoid reacting on all fundamental news you hear. Keep it simple — select only really important releases or indicators and monitor them when you trade.
4. One of the best ways to simplify your Forex trading is to hold the open positions for a fixed amount of time. This way, your positions are limited not only with the stop-loss and take-profit levels, but also with the time limit. I prefer limiting them to 30, 60, 360 minutes and 1 week periods, depending on the particular strategy.
5. Try not to trade on currency pairs with the base currency different from the one, in which your account is founded. For example, if you trade USD/JPY, while your account is founded in USD, your profit or loss can’t be adequately measured, because it inversely depends on the USD/JPY rate.
6. Look for a Forex broker with the fixed spreads, because trading with the variable spreads can’t be easy. You can’t rely on your strategy, especially if it’s a short-term strategy, if you don’t know the spreads values for sure.
Some traders adore simple approaches to the market, while others hate everything that’s easily understood by high-school graduate and prefer complexity. If you think that you are the one from the first group, then this list will probably help you. If you know some other ways to simplify Forex trading, please, leave a comment to this post.
How Do Forex Brokers Make Money?
Many beginning Forex traders wonder how the Forex brokers earn their money on the common traders, if they are not casinos. Understanding the basic principles of the brokers’ economics will help traders to distinguish real Forex brokers from the «bucket shop» scams and the ethical companies from the unethical. Here is the list of the most common ways for the Forex broker to earn money:
* Currency pair spreads. The largest source of income for the Forex brokers, spread is the difference between the Bid and Ask rates. Broker can execute your orders without a spread or with a minimal spread, earning the money that you lose for the spread.
* Leveraged spreads. Spreads alone would be too small to be a significant earning source for the brokers. So, brokers offer high leverage. Of course it’s a great tool for multiplying your profit (and also losses), but the spreads are also leveraged. With 1:100 leverage, broker earns 100 times more on spreads than it would without the leverage.
* Overnight swap spreads. Brokers pay the overnight swaps to the trader if the difference between the currency’s interest rates is positive in the trader’s position and get paid from the trader’s account if that difference is negative. But those payments are not symmetrical and they are changed so that the Forex broker would always get the advantage. When someone is selling 1 lot of EUR/USD and another trader is buying the same amount of that currency pair, the latter is earning money on overnight swaps, but the first one is losing the amount that is enough to compensate the second one’s earnings and to «feed» the broker.
* Payment processing commission. On-line Forex brokers don’t charge commission per trade (except Islamic accounts) and often advertise that as a feature. But some brokers charge payment processing fees — they are deducted only when you deposit or withdraw money and usually are quite small and fixed in currency units, not percentage points. Of course, such commissions are too small to be a part of the broker’s profit, but they are enough to compensate at least a part of the broker’s expenses.
* Trading against the trader. The most despised and unethical way the Forex broker can make money is to trade against its customers. And that’s the most profitable way too. Avoid the brokers that earn when you lose. If the spreads are too low, the leverage is insignificant, the overnight swaps are fair and there are no commissions (for payment processing and trading) then the broker is certainly trading against you to make money.
* Currency pair spreads. The largest source of income for the Forex brokers, spread is the difference between the Bid and Ask rates. Broker can execute your orders without a spread or with a minimal spread, earning the money that you lose for the spread.
* Leveraged spreads. Spreads alone would be too small to be a significant earning source for the brokers. So, brokers offer high leverage. Of course it’s a great tool for multiplying your profit (and also losses), but the spreads are also leveraged. With 1:100 leverage, broker earns 100 times more on spreads than it would without the leverage.
* Overnight swap spreads. Brokers pay the overnight swaps to the trader if the difference between the currency’s interest rates is positive in the trader’s position and get paid from the trader’s account if that difference is negative. But those payments are not symmetrical and they are changed so that the Forex broker would always get the advantage. When someone is selling 1 lot of EUR/USD and another trader is buying the same amount of that currency pair, the latter is earning money on overnight swaps, but the first one is losing the amount that is enough to compensate the second one’s earnings and to «feed» the broker.
* Payment processing commission. On-line Forex brokers don’t charge commission per trade (except Islamic accounts) and often advertise that as a feature. But some brokers charge payment processing fees — they are deducted only when you deposit or withdraw money and usually are quite small and fixed in currency units, not percentage points. Of course, such commissions are too small to be a part of the broker’s profit, but they are enough to compensate at least a part of the broker’s expenses.
* Trading against the trader. The most despised and unethical way the Forex broker can make money is to trade against its customers. And that’s the most profitable way too. Avoid the brokers that earn when you lose. If the spreads are too low, the leverage is insignificant, the overnight swaps are fair and there are no commissions (for payment processing and trading) then the broker is certainly trading against you to make money.
Forex: Tools of Trade
Although, the success in the Forex trading is largely associated with the trading strategies and systems that can be usually bought for money, those are not the real tools of the Forex trader. They can only be considered as the «shortcuts to the riches». Every professional should employ his own tools of trade and the Forex traders should have them too. Independent on the professionalism level of the trader, these tools help to analyze the markets and to calculate all the necessary numbers for money management and position taking:
MetaTrader 4 platform — perhaps the most important of the tools, a successful Forex trader should have. Even if you don’t trade with MetaTrader broker you should still download this free platform and use it for charts and technical analysis. With MetaTrader you can browse charts and the past history of almost all currency pairs, you can apply dozens of standard indicators and use the custom user-tailored indicators, you can back-test strategies using their strategy tester and forward-test your systems and expert advisors on the free demo servers. MetaTrader is your number one tool if you want to go beyond the beginner’s level in Forex.
Risk and reward calculator — a helpful tool if you prefer to know your reward-to-risk ratio before opening a real money position and manage your risks correctly. This risk-to-reward calculator will only for the chart patterns with the distinctive local peak and bottom. It’s based on the Fibonacci retracements.
Pip value calculator — it’s not a trivial task to calculate the value of a pip if you trade exotic currency pairs and/or have your trading account in some exotic currency. Understanding the value of the pip is important to accurately calculate your profits and losses. The on-line pip value calculator tool will help you to determine the pip value with the minimum efforts from your side.
Pivot points calculator — this tool will be useful to you only if you prefer to trade using technical pivot levels. There are many types of pivot calculators available — floor pivots, Tom Demark’s pivots, Camarilla pivots, Woodie’s pivots, etc. I suggest you using the on-line pivot point calculator, which combines the calculation of all the possible pivot point types.
Fibonacci calculator — if you trade via the MetaTrader platform you don’t need a separate Fibonacci calculator because you can use the standard indicator to build Fibonacci retracement levels. But if you use some web-based or some other inferior platform, you’ll enjoy calculating the Fibo levels with the on-line Fibonacci calculator.
MetaTrader 4 platform — perhaps the most important of the tools, a successful Forex trader should have. Even if you don’t trade with MetaTrader broker you should still download this free platform and use it for charts and technical analysis. With MetaTrader you can browse charts and the past history of almost all currency pairs, you can apply dozens of standard indicators and use the custom user-tailored indicators, you can back-test strategies using their strategy tester and forward-test your systems and expert advisors on the free demo servers. MetaTrader is your number one tool if you want to go beyond the beginner’s level in Forex.
Risk and reward calculator — a helpful tool if you prefer to know your reward-to-risk ratio before opening a real money position and manage your risks correctly. This risk-to-reward calculator will only for the chart patterns with the distinctive local peak and bottom. It’s based on the Fibonacci retracements.
Pip value calculator — it’s not a trivial task to calculate the value of a pip if you trade exotic currency pairs and/or have your trading account in some exotic currency. Understanding the value of the pip is important to accurately calculate your profits and losses. The on-line pip value calculator tool will help you to determine the pip value with the minimum efforts from your side.
Pivot points calculator — this tool will be useful to you only if you prefer to trade using technical pivot levels. There are many types of pivot calculators available — floor pivots, Tom Demark’s pivots, Camarilla pivots, Woodie’s pivots, etc. I suggest you using the on-line pivot point calculator, which combines the calculation of all the possible pivot point types.
Fibonacci calculator — if you trade via the MetaTrader platform you don’t need a separate Fibonacci calculator because you can use the standard indicator to build Fibonacci retracement levels. But if you use some web-based or some other inferior platform, you’ll enjoy calculating the Fibo levels with the on-line Fibonacci calculator.
LONG TERM TRADE
Last nite jump was expected but GBPUSD never made it big. Only EURUSD and AUDUSD manage to jump big enough. EURUSD was screaming long from early morning yesterday while AUDUSD make the last minute move.
From a long term perspective. AUDUSD is in a good position for a short position. This is a long term strategy and may require you to have high tolerence toward -ve pips.
So the signal is to short AUDUSD and AUDJPY at the best position as humanly possible. This trade may run up to weeks if not months. So prepare your account for long term holding of post.
Good luck
From a long term perspective. AUDUSD is in a good position for a short position. This is a long term strategy and may require you to have high tolerence toward -ve pips.
So the signal is to short AUDUSD and AUDJPY at the best position as humanly possible. This trade may run up to weeks if not months. So prepare your account for long term holding of post.
Good luck
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