Forex trading sounds intimidating, doesn’t it? It doesn’t have to be that way if you are truly serious with your approach. With the right broker, platform and tools to use, you can...
FAP turbo 2 is a automated Forex trading robot, designed to be highly beginner friendly. It was created a couple of years ago but this is the 2.0 version and hence a re-release has...
Forex Trading For Beginners – ...1
FAP turbo 2 Review2
Tips for Forex Robots3
Posted by William Avanagh | Comments Off on Forex Trading For Beginners – A Newbie Friendly Guide
Forex trading sounds intimidating, doesn’t it? It doesn’t have to be that way if you are truly serious with your approach. With the right broker, platform and tools to use, you can learn forex trading in no time. Forex trading is one of the most volatile and fastest financial markets when it comes to trading. The money you make can either be lost or made in just a matter of seconds. And at the same time, the currencies can show significant trends that may last for either several days, weeks or even years. The most important thing to know about forex is that it is constantly moving, thus providing access and which is rich in target in the trading environment.
Choosing A Forex Brokerage Firm
You want to work with a broker that has good trading executions. This is one of the keys you need to keep in mind when you evaluate their reliability and speed in trading executions. Are you able to consistently trade with the price you are trying for? And if you a trader tries to sell and that the request of their trade fails followed by an offer of a lower price, this probably means that the trader has been requoted. This means that the trader has been trading in a wider spread compared to what they have bargained for. Think about the price improvement offer of the broker if they are on limit orders. For the case of stop-loss orders, the execution quality of the brokerage firm comes to the number of slippage that has been experienced when the prices have gap or that there are news announcements. The question you need to ask when you expect a bit of slippage on the stop-loss order is how much?
Try to find out how the orders are filed exactly. This is in accordance to your take-profit or stop loss orders. Is the stop-loss sell order going to be filled when its bid price is going to match the stop price? Are the stops going to be guaranteed? If this is the case, are there going to be any exceptions to the guarantees? If there are limited orders, what is the policy for it? Any reputable broker will give a clearly defined execution policies posted in their website, free to read by those who visit.
You do not want to work with a brokerage firm that is not available 24 hours. Since forex is a market that runs in 24 hours 5 days a week, the customer support should be available in the same way. Try to find out whether or not you can access their customer support either through chat, email or phone? Are the representatives of the firm licensed and even knowledgeable? If your a complete beginner check out: the forex trading for beginners course. The quality of the representatives can be different from one firm to another, so it is important that you experience their customer support first hand before you even commit to opening an account with them. Lastly, find out if the firm is regulated and that they have solid financials.Read More
Posted by William Avanagh | Comments Off on FAP turbo 2 Review
FAP turbo 2 is a automated Forex trading robot, designed to be highly beginner friendly. It was created a couple of years ago but this is the 2.0 version and hence a re-release has occurred.
We are currently in the process of testing this robot but if you want some more information and a review quicker, there is another in depth review at: http://eliteforextrading.com/top-fx-trading-robots-review/ so if you’re looking for any more information then head over to elite forex for more info.
If you want to get in touch with us about any questions regarding robots in general, we test multiple robots every month and will be happy to answer any questions and concerns you have.Read More
Posted by William Avanagh | Comments Off on Tips for Forex Robots
A Forex robot can be an effective tool when conducting Forex trading. It’s also referred to as an Expert Advisor (EA). The robot is an automated system that’s designed on the Forex trading platform MetaTrader 4. Over 100 Forex brokers worldwide offer the MT-4 platform for their clients. Here are some tips for the robots:
Tip #1: Robots are usually programmed to conduct trades automatically
This means that the user isn’t required to make any choices about trading. When the robot has been properly programmed, it can manage every aspect of a trader’s operations.
There are a few main reasons why the robots have become popular. One is that they eliminate the main weaknesses that prevent traders from maximizing their profits, such as human emotions. Another key feature is that once the robot has been programmed, it does all the work basically. Of course, the key is that the robot is indeed programmed correctly. Otherwise it won’t be an effective Forex tool.
Tip #2: Choose a robot that best meets your needs
A Forex robot will be selected to turn a profit, but this differs for different people. You might be interested in making $100, $1,000, or $10,000 a week. Always keep your risk tolerance in mind. The greater the reward, the greater the risk.
After considering this issue, you should also look for a robot that mirrors your trading style. Which factors does it consider when being programmed? This will also help you to choose the best robot.
Tip #3: Consider the cost in terms of time and money
This is another issue to consider when choosing a Forex robot. Robots have various price tags, based on several factors such as the seller, the features available, etc. It’s important to consider this factor when choosing a robot. Another key factor is the amount of time that will be needed to program and maintain the robot. Certain robots will require more time than others, so it’s critical to consider this factor.
Tip #4: Consider the factors of a trending/ranging market
This should be another key issue to consider when choosing a Forex robot. While certain robots might perform well during a trending market, it might be a totally different story during a ranging market. That’s why it’s critical to do some research before you choose a robot, to determine which one is ideal for your Forex trading needs.
Tip #5: A sustainable robot is better
It’s advisable to conduct some backward and forward testing in various market conditions, to determine how sustainable a particular robot is. If the profits are sustained, then it’s a “robust” robot. Also, remember that past results never indicate how the robot will perform in the future. Keep in mind that this testing should be conducted by the vendor, before you conduct your own testing. A Forex broker can demonstrate how to conduct such testing.
If you are pleased with the robot at this point, then it’s time to run it on a “micro account.” Then you’ll verify that you’re risking minimal money by integrating the robot in your Forex trading.Read More
Posted by William Avanagh | Comments Off on Tips for Forex Platforms
Platforms aren’t just something to stand on. In the world of finance, a trading platform is a computer software program that can be used to place orders for Forex currencies, over a network. This allows electronic trading to be conducted by users while they’re at any location, and is contrasted with traditional floor trading. Here are some facts related to choosing a Forex platform:
Fact #1: the platform provides important data to the user
This includes all sorts of data, including quotes, charts, etc. The platform/software can be based locally, meaning that it’s installed on the trader’s computer, and then used in tandem with a standard OS. Another option is to use a web-based platform. These platforms are operated via the web language Java. As expected, both means have their pros and cons. While web-based platforms can be used on any CPU that has Internet access, the service is often free, and often below the capabilities of offline platforms.
Fact #2: An effective platform provides critical data
Whether a Forex platform is local or web-based, what’s critical is that it provides critical information to the user. It should basically serve as a middleman between the Forex trader and Forex broker. The platforms should also provide real-time and historical data, including data that’s needed to trade Forex effectively.
Third-party Forex trading is yet another option that’s often used by traders and brokers. The reason is that broker’s platforms often include an Application Program Interface (API). This allows traders to use third-party software into the platform.
Fact #3: Consider what the Forex platform provides
You’ll be able to choose the best platform for your needs by learning about the nuts and bolts of different platforms available. For example, is a particular platform a paid or free type? If it’s free, can you upgrade to a paid version? What indicators are available through the charting component of the platform? What historical data does the software provide? Does the platform provide historical data to users?
These are all critical questions to ask before choosing a particular platform. There’s no “right” or “wrong” platform per se. What’s important is to choose one that best suits your particular Forex trading needs.
Tip #4: Consider technical issues
This is yet another way to choose the best Forex platform for your needs. The features of a particular platform are certainly critical. However you should also consider various technical aspects of the platform. Is it based on Windows, the Web, Mac, etc.? Is there a Graphical User Interface (GUI) that has a pleasant appearance, or is it too techie? Does the platform include an API that permits extra software or programming? These are all critical issues to consider when choosing a particular platform.
Tip #5: Try out a demo account
Some platform companies offer a demo account during a trial period, before buying a mini account or full account. You should definitely consider this option to determine if a platform is right for your particular Forex needs.Read More
Posted by William Avanagh | Comments Off on Tips for Forex Signals
In the world of Forex trading, forex signals are one of the key components. It’s a suggestion for conducting a trade on a “currency pair” of two Forex countries, usually at a particular price and time. A Forex robot or a human analyst generates the signal. It’s important to note that timing is everything in relation to these signals. For that reason, they are usually sent quickly, through various means such as SMS, Tweets, etc. Here are some helpful tips about the use of the signals:
Tip #1: Know the Forex signals
As always, it’s critical to know the different terminology, in order to give you the best chance at maximizing your profits via Forex. Here are some of the main types of signals that you could receive during trading:
OB/OS: The currency has been oversold/overbought when an indicator hits a certain level
Partial Buy/See: This signal basically informs an investor to buy or sell a particular forex currency. This will minimize the risk of high-risk currency pairs. It is also advising to hold a portion of the currency because the high volatility of the currency pair could skyrocket at any moment. Usually a Volume indicator is paired with it.
SL/TP: This refers to stop-loss/take-profit. It’s the point at which the prediction system starts a suggestion to stop loses during a trending currency pair that’s moving in a downward direction. It could also be suggested to take the profits that a currency pair in an upward trend is generating.
Volatility: This is a statistical measurement and is usually located on a line graph. It measures the frequency/tendency of a specific currency pair to have high rises/low falls within a short time period. The volatility essentially examines how uncertain a particular Forex exchange pair is.
Tip #2: Nothing in life is 100%
It’s important to remember this fact when conducting Forex trading. In particular, be cautious of any company that offers 100% guarantees for their Forex signal service. Remember that the signals are mere suggestions, so it’s always up to the user to ultimately make the final decision. So the risk is strictly in the hands of the user or trader.
Tip #3: Get and act on signals quickly
Some Forex companies offer signals on a weekly basis, but it’s better to get them daily or weekly. This will give you the best chance at maximizing your profits in the industry, since all of the data is extremely time-sensitive. It is also important to act on a particular forex alert signal ASAP. However, you should also double-check your current charts to verify that the signal is proper. It’s also important that the information that you’re receiving is clear data.
Tip #4: Keep in mind that the signals are suggestions
The Forex signals are not definite instructions, which is something you should keep in mind. After receiving the signals, you have the ability to hold, buy, trade, or sell your stocks based on the data that you have received. Usually the signals are easy to read, which will make your decisions easier.Read More
Posted by William Avanagh | Comments Off on What Is Forex?
Forex trading has become one of the biggest industries in the world of finance. It refers to the FOReign EXchange market, and involves countries around the world, numerous financial establishments, and a daily turnover of $4 trillion USD. For those who are just staring out, it’s important to know some basics about the market. Here are some keys:
Fact #1: Forex is critical for global commerce
Forex is critical on a global scale. It affects the value of a country’s currency, evaluating its worth vs. the currency of other countries. This allows global commerce to be continuous worldwide. For instance, an election can improve or decrease the value of a country’s currency in the Forex market. In another example, a country that has a trade deficit might see its currency decline on the world market. The bottom line is that when a country experiences major damage to its goods and services, the currency in relation to other countries’ currency will drop.
Fact #2: The Forex broker plays a key role
A Forex broker is the middleman between the investor and the “interbank.” An interbank is a network of banks that trade between each other. Usually, a forex broker offers the investor a price from the banks that they work with. Forex brokers often do pricing by using multiple banks, and then offer their clients the best price available. Choosing a particular broker won’t necessarily result in much or little profits from Forex. However, it will certainly increase your chance of maximizing your profits in the Forex industry.
Fact #3: The rates affect international changes
The Forex exchange rates will have an immediate effect on people who travel to foreign countries. This will determine the quantity of goods and services that the person can buy while traveling. However, it should be noted that the effects of a Forex rate can also affect the individual, even if the person remains in his or her country. Changes in the Forex rate can cause the prices of products and services to vary significantly. This requires an individual to make adjustments to their personal budget, due to the higher costs of goods and services.
Fact #4: Forex rates are constantly changes
This is one of the keys to understanding Forex. The rates are very fluid, and are always increasing or decreasing. It’s certainly a benefit for investors. If they’re not pleased with the current Forex rates, there’s a high chance that the rates will change in the near future. It also means being a Forex investor requires some patience if the current rates aren’t favourable.
Fact #5: Forex can be influenced by trade between two nations
In theory, the trade balance between two countries will stay within a range that both countries agree is acceptable. The result would be a forex rate that only differs slightly between periods. Fast changes in the trade balance would cause a drastic change in the Forex rage. This situation could benefit one of the countries, but not both of them.Read More