HotForex Social Traders Network - forex trading is a business

HotForex Social Traders Network ~ forex trading is a business

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Who is the owner of Forex Market Where - forex trading courses in sri lanka

Who is the owner of Forex Market Where ~ forex trading courses in sri lanka

Forex not owned by anyone in particular. Forex is an interbank market, meaning that its transactions are conducted only between two participants — seller and the buyer. So as long as the current banking system will exist, Forex will be here. Its not connected to any specific country or government organization.

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What do support and resistance levels mean in Forex Market - forex trading courses scotland

What do support and resistance levels mean in Forex Market ~ forex trading courses scotland

Support level is a level lower than the current rate, which could possibly take an upward turn. Resistance level is a level above the current rate, which could possibly take a downward turn. 

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What is Breakout Trading in Forex Market Advantages Disadvantages - forex trading courses perth

What is Breakout Trading in Forex Market Advantages Disadvantages ~ forex trading courses perth

What’s so good about breakout trading? Well, there are several reasons and to list a few:
1. As a breakout trader, you are a market follower. You just go with the flow instead of whining that you bought low or sold high, against the market, while the market was unstoppable.


2. If things go wrong, you can still blame the market instead of blaming yourself, since you are a market follower (see 1. above), right? – I guess this qualifies as a morale booster. It’s always better to blame something/someone else instead of blaming yourself, thus losing confidence in what you’re doing – and you certainly DON’T want to lose confidence in what you’re doing, because knowing your stuff and believing in what you do is what trading is all about.
3. Chances are that you will jump into some violent moves in your favor, as best breakouts usually occur fast, market being driven by tons of stop-loss orders getting filled on its way (we all know most people set their stops above/below recent highs/lows or range tops/bottoms)

And some of the disadvantages:
1. Many times you need a larger stop loss, compared to buying around support or selling at resistance, because you should allow for some corrective movements against the position. Corrections are normal and they occur all the time. A tight stop is easily hit during a corrective phase once a resistance/support is breached and you just jumped into a breakout trade. Keep in mind that market has a habit of re-testing a key level from the opposite side once it’s been breached (i.e.: support becomes resistance and vice-versa). The re-test is what confirms that a change or role occurred, and that’s when you start questioning whether the breakout was real or fake – and tight stops or manual closing/reversing become some of the things to put on the “Don’t Do This” list.
2. Many breakouts fail (doh – playing the Captain Obvious role here). Else, everyone would trade breakouts and know each other because they’d be sharing the same exotic beaches somewhere. Anyway, once you become familiar to these kind of market movements, it should be easier to identify a real breakout when you see it.

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Day Trading Forex Currency - forex trading tax implications uk

Day Trading Forex Currency ~ forex trading tax implications uk

Right, day trading today. People are very interested in the concept of day trading. And i think there are at least few reasons for this. Before i will go into details, lets define day trading, what it really is.

On Forex day traders are guys who make a lot of trades (like over 10) in a single. Each of the trade is closed by the end of trader trading session, on Forex it usually means turning your computer off. Note that this is not the same as scalping. The only similarity between scalping and day trading is that, a lot of traders fail there.

Main resaon for this is that traders are tempted with huge profits, when doing day trading people are almost always using huge lavereages, like 100:1, it means buying 10 Lots with 10 000$. I think you can easily see how much one PIP is worth then, yeah it is 100$. It seems great at first, looks like a quick cash, but consider the fact that you only need 100 PIP move in the wrong direction to meet mr. Margin Call.

In reality when you trade on such high leverage it looks like everything is happening with a speed of light, while in fact it all happens with a normal speed, it is this ridiculous leverage that makes things harder.

Next thing you need to consider when you want to do day trading on forex currencies, is that not every broker will be happy with what you are doing, they may close your account or limi your leverage if ... you will start making money. So chose your broker wiseley checkout Forex forums and read brokers reviews make sure they allow day trading.

You may now think, wow day trading is hard. Well in fact it really is harder then you think. I am not saying it cannot be done, i am not saying you cannot earn like 200% a month. I am just saying that success with day trading want happen overnight, if you focus on it and commit to becoming day trading the success will come with time and experience.
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How forex market should operate - forex trading income tax uk

How forex market should operate ~ forex trading income tax uk

Interesting article at Vanguard, author explains how Forex market should operate. Article is based on proposal for a liberalized foreign exchange market in Nigeria and its economic benefits.

Two most interesting sections selected by author are:

• How market will operate
• Payment for import and forex auction

"3.6 HOW THE MARKET WILL OPERATE
The CBN will consolidate the distributable portion of the dollar earnings monthly (or at worst bimonthly) in arrears. The realizable values will be published in appropriate government bulletins monthly.

3.6.1 The CBN would issue warrants denominated in dollars monthly without fail to each beneficiary of federally derived dollar revenue according to constitutional provisions with regard to sharing of such revenue.

3.6.2 The beneficiary of the dollar warrant (strictly not cash) (federal, state, local governments, statutory agencies etc) will approach their separate bankers with their dollar warrants for conversion of all or part of the dollar warrant into naira for its corporate budgetary obligations which cannot be paid in dollars (since the dollar is not legal tender in Nigeria).

3.6.3 All buying and selling of currencies will be carried out through a bank or any other such denominated financial institution.

The local bank officer on receipt of the request would seek current rate confirmation from its head office before concluding a deal."

Read more here: Dollar allocations
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Standard Deviation Channel - forex trading tax in usa

Standard Deviation Channel ~ forex trading tax in usa

I recently read article about, about standard deviation channel, (which as you may already know is one of my favorite indicators), and I was shocked, although author of this article explained what standard deviation channel is in mathematics but it had very little to do with Forex or any other financial market. Furthermore, I read other articles about standard deviation channels and what I found out is that they all were giving useless information to readers, so here is the right way to use standard deviation channel.

First of all, authors suggest that, when price will reach upper line, it is time to take SHORT position and vice versa, when price will reach lower line you should take LONG position because market is oversold.

This is true only if market is trending. It is quite safe to treat then lower line as support line and upper line as resistance line, and more over (depending on your standard deviation channel settings) 95% of price movement will happen between this two lines, as long as market is trending. The obvious question here is how to tell if Forex is trending, but this question is beyond the scope of this article, at least for now J.

What I like about standard deviation is that it allows to easily determine trend, you just need to draw channel over the selected period of time and that’s it, you have detected trend. However to use this indicator efficiently you need some experience, ideally you should see channel on the chart before you draw any lines on it. If you don’t see it, then do not worry it is all about experience.

How to use correctly Standard Deviation Channel

If market is in uptrend, you should take ONLY long positions, when price will reach lower line. Never take SHORT position in uptrend when the price will reach upper line, that do NOT mean that market is overbought, in uptrend price can easily go waaay over upper line and hit STOP LOSS, of trader who was stupid enough to take SHORT position in bull market.

Obviously, the opposite goes for market in downtrend, do not take long positions on lower line, NEVER.

Most importantly, this indicator is called standard deviation channel and you should use it only with CHANNELS not with any random piece of chart, below is the stock market chart with two correctly drawn channels.

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Forex Humanoid Robot 97 Worth ~ forex trading business in the philippines

Forex Humanoid Robot $97 Worth

I Forex Humanoid is about to change the game forever
At last
A superior A.I. at the service of the average Forex trader ready to sky-rocket your income on auto-pilot!
They said it was impossible, but YOU are about to be part of the elite group who?s going to proof them wron .

CLICK HERE TO DOWNLOAD

  

 

 

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Forex Market Hours Monitor ~ forex trading is special business

Forex Market Hours Monitor

Forex Market Hours is a handy freeware program that allows keeping track on active Forex market sessions worldwide.

London, New York, Sydney, Tokyo - major trading sessions with the biggest volume of trades are depicted in friendly dialog window with active hours tracking tool. Program needs no installation and will graphically show forex trading hours that are currently active. Forex Market Hours Monitor adjusts users current time to Eastern Standard Time and shows active trading sessions in the Forex Market. Program can be used by all forex traders trading in any time zone.

CLICK HERE TO DOWNLOAD

  

 

 

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What is a trailing stop loss in Forex Market - forex trading classes singapore

What is a trailing stop loss in Forex Market ~ forex trading classes singapore

Trailing Stop-loss is a compound stop-loss order where a stop-loss price is set at a fixed rate below the market price. If the market price goes up, the stop loss price will also go up proportionally. If the market price goes down, the stop-loss price remains the same. 

In this way, the trader can set a limit on the maximum possible loss but not limit earnings. This means that trailing stop-loss follows the current price by X pips. Therefore trailing stop-loss is a stop-loss control procedure - "it follows the price to profit." Attention! Trailing stop-losses only work when your trading terminal is connected to the server through the Internet. 

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Do You Like to Make Some Extra Money Before Christmas - forex trading courses in pune

Do You Like to Make Some Extra Money Before Christmas ~ forex trading courses in pune

6 Easy Ways to Make Extra Money Before Christmas

During the holiday shopping season, many of us find ourselves spending more than we expected. As a result, it’s common to look for ways to offset some of that spending by earning a little extra money at this time of year.

While you could get a seasonal job to work on top of your day job, or you could jump through hoops associated with getting a rebate, there are some easier ways to make extra money this holiday season.

Here are 6 easy ways to make extra money before Christmas:

1. Donate Plasma
My brother-in-law goes down to the blood bank and donates plasma twice a week. Depending on where you live, you can receive between $25 and $50 for each donation. You can go twice in a seven day period, as long as there are two days between each donation. This doesn’t take very long, and it can be a quick way to make a few dollars.

If you start now, you can get in about six donations between now and Christmas. That would equate to a total between $150 and $300, depending on what the local rate is. Not to mention the fact that you’ll be giving your karma a boost with the good deed!

2. Sell Some of Your Old Stuff
Go through your attic or basement and look for stuff you aren’t using anymore. We found some old Hallmark holiday ornaments we no longer care for, as well as a number of other items that we never use. You can sell your things on eBay, or you can sell it through the classifieds (local online classifieds work best). Or, if the weather isn’t too bad, you could even hold a yard sale. What you end up with depends on what you sell, but a neighbor recently brought in $350 by selling her unwanted items.

You can also consider selling some of your old jewelry. Just be careful of where you go to sell gold or silver, as you want the best possible price.

3. Fiverr
If you have a few minutes, you can perform relatively simple work for $5 a pop on the website Fiverr. The tasks aren’t too difficult, and it can be a good way to get a little extra cash. It’s not a ton, but it can start to add up if you get enough jobs. Just make sure that you don’t start spending too much of your precious time on these little tasks.

4. Yahoo! Voices
Do you write? While you can make money as a professional blogger, or off your own web site, it takes time to establish yourself and actually start making money. If you’re looking for some quick cash, consider Yahoo! Voices.

After signing up, you can submit your writing. If you submit for immediate payment, you can get between $5 and $25 (or more!) for your posts, depending on the timeliness and quality of your work. Plus, you receive extra payments based on pageviews — so, you could keep getting paid even after you stop writing articles.

5. Mystery Shopping
If you are careful, you can combine your love of shopping with your desire to earn money. My mom and my sister have both had success as mystery shoppers. If you make sure you’re working with a reputable company, and there is work in your area, this can be a good way to earn a couple hundred bucks before Christmas.

6. Forex Trading ;)

Do you have any other easy ways of earning extra money before Christmas?

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