One thing I don't really do on this blog is talk about the basics of forex trading. I automatically assume most of my readers have a general understanding of how the forex markets work. However if you are looking for an entry level forex trading course, there is one course that I can highly recommend.
It's called Forex Nitty Gritty and despite the dubious name, it's actually a very impressive course.
This course assumes you have no prior knowledge of forex trading and starts right at the beginning. Through a series of online videos you will learn all the basics of forex trading. You will also be taken through out some of the more advanced subjects such as how you can use price patterns, fibonacci techniques and various different technical indicators to trade the markets. In short you are basically given a complete education in forex trading.
Furthermore if that wasn't enough you are also provided with a simple, but very effective trading method that you can use to trade the markets. I use this method quite a lot myself on the intraday time frames and it works very well because it gets you into a trade whenever a currency pair is trending strongly upwards or downwards, so the odds are always stacked in your favour.
Anyway if you would like to find out more about this excellent forex course, you can do so either by visiting the Forex Nitty Gritty website or by clicking here and reading my full Forex Nitty Gritty review.
source:http://theforexarticles.com/forex-course/
Thursday, December 3, 2009
Trading Platforms
Our FOREXTrader platforms combine ease of use, unprecedented flexibility and a full suite of professional charting and order management tools, all on a single screen. Best of all, you can use the same User ID and Password to switch between platforms at will, putting you in total control of your trading experience.
View real-time prices in 37 currency pairs and spot gold
Execute market orders with just one mouse click
Track P&L and open positions in real time
Perform technical analysis with our advanced charting tool
Choose from 8 available order types
Access a full suite of proprietary daily and weekly research reports
View up to the minute news headlines and market commentary
source:http://www.forex.com/uk/forex_platform_advantages.html
View real-time prices in 37 currency pairs and spot gold
Execute market orders with just one mouse click
Track P&L and open positions in real time
Perform technical analysis with our advanced charting tool
Choose from 8 available order types
Access a full suite of proprietary daily and weekly research reports
View up to the minute news headlines and market commentary
source:http://www.forex.com/uk/forex_platform_advantages.html
Learn to trade currencies, spot metals and oil
Whatever your level of experience, you can take advantage of FOREX.com's expertise
to improve your trading skills. From advice on getting the most from our trading platforms,
through to trading strategy ideas, we have a wealth of information to help you become a
successful currency trader.
New to the Forex market?
If you're new to the Forex market our online Forex Guide will take you through the basics: Learn how currencies trade, the importance of leverage and margin, and how to calculate profit and loss. We also explain the basics of technical and fundamental analysis and how to use these indicators to inform your trading decisions
Online forex training courses
Our online training courses are designed to provide novice currency traders with a broad overview of the Forex market. Covering everything from the factors that drive currency movements through to reading and analysing charts, and effectively utilising leverage, the course will prepare you with the skills you need to trade forex.
source:http://www.forex.com/uk/learn.html
to improve your trading skills. From advice on getting the most from our trading platforms,
through to trading strategy ideas, we have a wealth of information to help you become a
successful currency trader.
New to the Forex market?
If you're new to the Forex market our online Forex Guide will take you through the basics: Learn how currencies trade, the importance of leverage and margin, and how to calculate profit and loss. We also explain the basics of technical and fundamental analysis and how to use these indicators to inform your trading decisions
Online forex training courses
Our online training courses are designed to provide novice currency traders with a broad overview of the Forex market. Covering everything from the factors that drive currency movements through to reading and analysing charts, and effectively utilising leverage, the course will prepare you with the skills you need to trade forex.
source:http://www.forex.com/uk/learn.html
Three Little Rules
Three little rules
Jamie’s rules for forex traders:
1.Understand the basics of technical analysis. You don’t need to be a quant-geek to be successful, but understanding the first ten chapters or so of the classic Technical Analysis of the Futures Markets: A Comprehensive Guide to Trading Methods and Applications by John J. Murphy would be a great start.
2.When the fundamental and technical outlooks for a currency differ, always side with the techs.
3.When the fundamental and technical outlooks for a currency converge, go for it! Take a more aggressive position than normal.
source:http://www.forexlive.com/three-little-rules
Jamie’s rules for forex traders:
1.Understand the basics of technical analysis. You don’t need to be a quant-geek to be successful, but understanding the first ten chapters or so of the classic Technical Analysis of the Futures Markets: A Comprehensive Guide to Trading Methods and Applications by John J. Murphy would be a great start.
2.When the fundamental and technical outlooks for a currency differ, always side with the techs.
3.When the fundamental and technical outlooks for a currency converge, go for it! Take a more aggressive position than normal.
source:http://www.forexlive.com/three-little-rules
Forex Jargon
Markets have a language all their own and within that language, forex has its own dialect. Here are some terms we commonly use in our commentary. If you would like to see additional terms defined, e-mail sem at forexlive.com
Bank for International Settlements (BIS) an international organization which fosters monetary and financial cooperation and serves as a bank for central banks. The BIS often acts as an agent in the forex market, allowing central banks to mask their identity in an attempt to dampen market impact.
Barrier option: A type of “exotic” option that comes into existence or ceases to exist once a certain price is reached. They are often added to a “vanilla” or typical option to make the premium less expensive. For example, a 1.4000 EUR/USD call purchased when spot is at 1.3500 would be cheaper if there were a “knockout” embedded in the option, for example at 1.3300. If 1.3300 trades before the expiration of the options, the whole structure would be “knocked out” and the seller of the option would be able to pocket the entire premium.
source:http://www.forexlive.com/forex-jargon
Bank for International Settlements (BIS) an international organization which fosters monetary and financial cooperation and serves as a bank for central banks. The BIS often acts as an agent in the forex market, allowing central banks to mask their identity in an attempt to dampen market impact.
Barrier option: A type of “exotic” option that comes into existence or ceases to exist once a certain price is reached. They are often added to a “vanilla” or typical option to make the premium less expensive. For example, a 1.4000 EUR/USD call purchased when spot is at 1.3500 would be cheaper if there were a “knockout” embedded in the option, for example at 1.3300. If 1.3300 trades before the expiration of the options, the whole structure would be “knocked out” and the seller of the option would be able to pocket the entire premium.
source:http://www.forexlive.com/forex-jargon
Monday, November 23, 2009
WHY SPREAD BET WITH FXCM?
UK Residents ONLY: FXCM UK LTD offers Spread Betting solely on trading FX currencies. An FXCM Spread Bet account is the same as an FXCM forex account with the added tax benefits. The minimum to open a live account is 300 GBP.
■ No Re-quotes
■ No Capital Gains Taxes for UK Residents*
■ Never Pay Debit Balance as a Result of Trading
Every time you trade a spread bet with FXCM, we will trade in an underlying market to hedge your bet on a one-to-one basis. If you open a long spread bet in EUR/USD, for instance, FXCM will take a corresponding long position in the same currency pair. Therefore, from the time of the trade confirmation, the outcome of your trading has no effect on FXCM's profit or loss.
No Re-quotes from FXCM
For optimum trade execution, Spread Bet accounts use back-to-back execution model, variously called "agency execution" or "No Dealing Desk" execution. After you send FXCM an order, your position is executed as soon as our hedge is established. This means that the order you placed is filled without re-quotes during most market conditions.
Many market makers issue re-quotes, and sometimes for legitimate reasons. But re-quoting carries the potential for conflict of interest between the market maker and the client. If a market-making firm finds it cannot make money on your trades, it may provide you with an aggressive re-quote, regardless of the true market price.
To avoid any conflict, FXCM will never re-quote you another price. Our dealers simply ensure that every client order we receive is hedged. Since all spread bets are hedged real-time in their various underlying markets, FXCM's spread can vary.
source:http://www.fxcm.co.uk/forex-spread-betting.jsp
■ No Re-quotes
■ No Capital Gains Taxes for UK Residents*
■ Never Pay Debit Balance as a Result of Trading
Every time you trade a spread bet with FXCM, we will trade in an underlying market to hedge your bet on a one-to-one basis. If you open a long spread bet in EUR/USD, for instance, FXCM will take a corresponding long position in the same currency pair. Therefore, from the time of the trade confirmation, the outcome of your trading has no effect on FXCM's profit or loss.
No Re-quotes from FXCM
For optimum trade execution, Spread Bet accounts use back-to-back execution model, variously called "agency execution" or "No Dealing Desk" execution. After you send FXCM an order, your position is executed as soon as our hedge is established. This means that the order you placed is filled without re-quotes during most market conditions.
Many market makers issue re-quotes, and sometimes for legitimate reasons. But re-quoting carries the potential for conflict of interest between the market maker and the client. If a market-making firm finds it cannot make money on your trades, it may provide you with an aggressive re-quote, regardless of the true market price.
To avoid any conflict, FXCM will never re-quote you another price. Our dealers simply ensure that every client order we receive is hedged. Since all spread bets are hedged real-time in their various underlying markets, FXCM's spread can vary.
source:http://www.fxcm.co.uk/forex-spread-betting.jsp
Sunday, November 22, 2009
Forex Books for Beginners
Here you will find the Forex e-books that provide the basic information on Forex trading. You can learn basic concepts of the Forex market, the technical and fundamental analysis. While all these e-books are recommended for every new Forex trader, they won't be very useful to the very experienced traders.
Almost all Forex e-books are in .pdf format. You'll need Adobe Acrobat Reader to open these e-books. Some of the e-books (those that are in parts) are zipped.
If you are the copyright owner of any of these e-books and don't want me to share them, please, contact me and I will gladly remove them.
Candlesticks For Support And Resistance — The basics of trading with candlesticks charts by John H. Forman.
Online Trading Courses — Course #1 lesson #1 by Jake Bernstein.
Commodity Futures Trading for Beginners — by Bruce Babcock.
Hidden Divergence — by Barbara Star, Ph.D.
Peaks and Troughs — by Martin J. Pring.
Reverse Divergences And Momentum — by Martin J. Pring.
Strategy:10 — Low-risk, high-return forex trading by W. R. Booker & Co.
The NYSE Tick Index And Candlesticks — by Tim Ord.
Trend Determination — A quick, accurate and effective methodology by John Hayden.
The Original Turtle Trading Rules — by OrignalTurtles.org.
Introduction to Forex — by 1st Forex Trading Academy. This trading course intends to provide to all of the students analytical tools on the trading system and methodologies. In this respect, the purpose of the course is to provide an overview of the many strategies that are being used in Forex market and to discuss the steps and tools that are needed in order to use these strategies successfully.
source:http://www.earnforex.com/forex-e-books/beginner-forex-trading/
Almost all Forex e-books are in .pdf format. You'll need Adobe Acrobat Reader to open these e-books. Some of the e-books (those that are in parts) are zipped.
If you are the copyright owner of any of these e-books and don't want me to share them, please, contact me and I will gladly remove them.
Candlesticks For Support And Resistance — The basics of trading with candlesticks charts by John H. Forman.
Online Trading Courses — Course #1 lesson #1 by Jake Bernstein.
Commodity Futures Trading for Beginners — by Bruce Babcock.
Hidden Divergence — by Barbara Star, Ph.D.
Peaks and Troughs — by Martin J. Pring.
Reverse Divergences And Momentum — by Martin J. Pring.
Strategy:10 — Low-risk, high-return forex trading by W. R. Booker & Co.
The NYSE Tick Index And Candlesticks — by Tim Ord.
Trend Determination — A quick, accurate and effective methodology by John Hayden.
The Original Turtle Trading Rules — by OrignalTurtles.org.
Introduction to Forex — by 1st Forex Trading Academy. This trading course intends to provide to all of the students analytical tools on the trading system and methodologies. In this respect, the purpose of the course is to provide an overview of the many strategies that are being used in Forex market and to discuss the steps and tools that are needed in order to use these strategies successfully.
source:http://www.earnforex.com/forex-e-books/beginner-forex-trading/
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