Friday, September 28, 2007

How does one make a living trading forex ? -

I agree with Vik. I think I ve answered this same question a few times already... You can make a living trading forex by buying low and selling back a currency high or the opposite by selling a currency short then buying it back. Have a search of previous questions I ve answered... Try searching for this question because its been asked (and answered) literally hundreds of times on this site...

Forex or stocks in this kind of economy that we#039;re having in uk? -

which would be the more practical thing to get into at this moment in time, considering out economy. Forex, stocks OR SAVINGS. ICICI is offering 7.20% interest. Put up to £50000 in there Put another £2500 in an alliance amp; leicester bank account. (they offering 8.50% up to £2500) Your savings will be protected up to £50000 from October 7th anyway ! :) I d suggest forex simply because of the stability it offers - it s a global market so it isn t just affected by what s going on in a certain country. If you want to see exactly how to get into trading forex, you should take a look at the free beginners guide you can download at This guide is a quot;step-by-stepquot; report which explains everything you need to know about getting into forex trading. Hope this helps?

Is there a website where you can read the terms and language used in the Forex markets? Or a good basic book? -

There is some good info here: try to avoid paying for any information because most of it is scams. Hello, If you are looking for simple easy to understand concepts of forex then visit this. I personally like this page because of its simplicity and to the point concepts. Hope you like it too.... For books, try Forex for dummies. Hope this helps. Jim register to this site and download a Free Ebook. if you want a serious way of learning forex, you may deposit a minimum of $100 which will also form part of your initial capital and they will provide you a personal Account Service Manager (ASM) with whom you can talk live via phone, email or chat to answer all your technical questions. your ASM is actually an expert forex trader and is tasked to be your mentor, adviser, friend and trading partner which means at your request he will trade along with you until you get familiar with their system and can give expert advises, tricks and strategies to become successful in your trading activities. Go to It has articles and ebooks and tools for download. Hi BB, I personally like . ForexFace is a portal for forex trading education, where you will find a free forex course (forex ebook), interesting articles about forex basics, expert advisors, day trading and also a newsletter (they send you an additional forex ebook and tips to learn forex via email). I very much like learning forex at ForexFace - also the website is very easy to use. From this link you can download their free forex ebook: Cheers, Jeff

(1) What is the best time to do forex trading? (2) What are the best curency pairs to trade in? -

1) This site will answer your first question 2) There are only six major currency pairs against the dollar GBP EUR JPY CAD CHF AUD These are the pairs with the highest volume and the lowest spreads. There are six or eight other quot;cross pairsquot; that also have good volume, but the spreads widen to 9 or 10 pips. Depends if you can predict which currency is stronger/weaker rising/falling etc....tricky business to get right....bit like share dealing. Depends on your strategy and rules. Some people like mornings, some like evenings. Really depends on how you like to trade (what strategies and what timeframe). There are 17 pairs that are most popular. Many people like USD/EUR, USD/JPY. Hope that helps! Best Time to Trade ? Check out this site. It has a time chart based on the various cities in the world. @ Best Currency pairs ? Those that are liquid and volatile. Basically the majors USD/JPY EUR/USD GBP/USD CHF/USD Although EUR?GBP is my pet right now. Slow and steady. Generally 2 AM ST to 2 PM EST is the best time since most of the banks are working at that time. Generally USD based currency pairs have high volatility and tight spreads.. Get more info at If there was a quot;bestquot; time and currency to trade in, the opportunity would be arbitraged away as quickly as it came.

How can I make money with domain names and forex? -

I need an answer from someone already doing this You can go to a service like and get a comprehensive list of all domain names that are soon to expire. You can actually sort the list with keywords such as quot;forexquot;. You will get a listing of all soon to be expiring domain names with the word forex in it. You can then place a bid through a number of services such as Then you can simply use, sell or park (and generate income) from your newly acquired name. Good luck, Paul

What is a good profit goal on a forex trade? -

I am starting small with a margin of risk of $12.50. I know the earning potential is pretty unlimited but how to I know when to close the deal and take the profit. I dont want to be greedy. I am thinking $12.50 would be a minimum. What do you thing? When I open a position in the forex market, I have a reason for it--technical or fundamental. When the reason no longer exist, I close that position. I do not use a fixed number or percentage, but let the market tell me when to get off. Hope this helps. - Jim If something doesn t get to your profit goal, what are you going to do? Wait? If something gets to your profit goal, what are you going to do? Close the position with a small profit? This mean that you are closing positions that are moving in your direction while holding your losers. This is a recipe for disaster. Professionals don t use profit targets. They may be wrong 70 - 90 % of the time. Their profits come from riding a few big winners each year. $12.50? On what size, on what time frame and on what pair? Regardless of the situation I think its way too small for anything greater than a 10000 mini lot, but you may be trading less if you your broker allows. A general rule: look at a chart of what you are trading, look at the range of moves you expect to catch. Your stop should be at most one third of the expected profit you want to make and probably more than one fifth depending on the volatility. It doesn t sound as if you have a plan or a system. Read what some of the others here have given you as answers because there is some good information here. I would suggest that you don t use any real money, no matter how small or insignificant it may seem, until you have done more research. Take your time and do your homework because there is not reason to rush into Forex trading. Just remember, it is better to get rich slowly than to get poor quickly. Best of luck to you in your trading endeavors. dear sir, forex is not easy and got high risk.. u must know about calculation win and lost. please trade less than 3% from margin and make sure u know about this.. please set target lost and target win for day trading.. if target win archive just stop your trade and when you lost target reach please stop your trading for that day, and the last tips please compund your profit.. last advice from me.. money management , not greedy and planning when do forex trading is they key success in forex.. if u not follow this rules i confirm all your money will be gone.. tq cheers, http://saving-money-techniques.blogspot.... A good place to take profit is just above your support line or below your resistance line depending if your going short or long. You have a stop loss in place right? So just make your risk reward 3:1 or 4:1, why be greedy ? You do know what I am talking about don t you? if you don t, you shouldn t be trading You seems to have a good beginners knowledge. In forex market I would advise you to be cautious and adventurous at the same time. Draw your boundaries and play with in yourself. Also keep your eyes and ear open for accumulating extra knowledge on how the market move from here.

What is the best EA (max profits, min drawdown) to run automated forex trading with metatrader 4 (mt4)? -

EA is a file that can compute and perform trades in the MT4 application - the forex market, for brokers that support mt4. I think Forex Tracer is the best out there at the moment which works with mt4. The Forex Tracer is USD/EUR pairs. http://www.forextracer.forexrobotreviews... Or if you want USD/JPY pairs then you should be considering Forex Funnel. http://www.forexfunnel.forexrobotreviews... Good luck