Tag Archives: Forex Education

Instant Forex Profits

Instant Forex Profits is a high quality forex trading course offered by Kishore M an ex Hedge Fund Manager. In the following Instant Forex Profits review, you will see what is included in the Instant Forex Profits course, what is Instant FX system and the user reviews and ratings.

Instant Forex Profits Review :
Instant Forex Profits course is a complete forex training course designed to make you an expert trader. Please note that iFxProfits in not an automated forex trading robot like Forex BulletProof.
The course is jam packed with information from beginner’s tutorials to advanced currency trading strategies. The Instant FX Profits from Kishore M is the only foreign exchange trading course that is certified by a tertiary instituition (Metropolitan Business School, UK).

Watch iFxProfits Videos   |   Join Instant Fx Profits Course

Watch the videos to see the creator behind iFx Profits course talking on Bloomberg, BBC, Channel News Asia etc.

Currency Day Trading

Forex Day Trading & Scalping For Quick Profits

Forex day trading and forex scalping are ways to make money fast in currency trading, but at the same time it is as risky as any other currency trading method, if not more so. Profits are never guaranteed in the forex market and day trading requires some special attributes. If you are new to forex scalping I suggest you to check out Delphi Scalper system.

Many beginners start with day trading because they like the idea of being in and out of the market quickly. It seems to a beginner that there must be less risk because you are not exposed to danger for so long. But in fact this is not true. The chances of having a trade go against you are just as big.

Of course, it is common for forex day trading strategies to involve a smaller position than longer term trading, or they can have a smaller range in terms of stops and profit targets. So in a sense the risk is lessened, when looking at one trade. But when you consider all of the trades that the system undertakes in a month, it is clear that overall there is no particular safety in day trading.

So does that mean we should not do it? Not necessarily. Just be sure to do it for the right reasons.

Some people consider that day trading systems are less stressful. Again this can be an illusion, but it is true that day trading seems to suit some people better than others. The pace of trading is much faster, with decisions being made on a very tight timescale under more stress. But on the other hand, at the end of the day you can switch off your computer knowing that every trade is closed and nothing is going to happen to your account balance while you sleep, so it can be easier to relax and forget about trading when it is time to take care of the rest of your life.

If you are considering day trade currency systems, be aware that an estimated 80% of day traders are losing money. Of course this may be because so many of them are beginners who do not know what they are doing. However, you want to be sure before you start that you have a good chance of being in the other 20%. This means testing out systems thoroughly in demo mode as well as back testing before ever considering going live in the real market.

Then start small because it is hard to know how the pace is going to affect our decision making powers until we are trading for real. Never assume that because you made money in demo, it is going to be easy when it comes to the real market. Many people make this mistake: you will surely have seen people complaining in forums about some system that worked in demo but not when they went live. They do not seem to understand that this is not likely to be the fault of the forex day trading system!

Good Forex Trading Systems

Why Is It So Hard To Find Good Forex Trading Systems?

Is it possible to make money with forex trading systems? Beginners often wonder why it is so hard to find good forex trading systems. Advertisements all over the internet and on Television draw the average Joe into the lucrative but risky forex trading market with dreams of striking it rich, but he quickly finds that making a lot of money in currency trading is not as easy as he hoped.

Before you even start looking for forex trading systems, you need certain qualities. You need to be comfortable with figures. You need to be cool headed and, in a certain way, ruthless; while you don’t have to deal with other people too much, you do have to face your own fears. You need to be able to take risks without being a gambler who will stake all for a win.

Then if you fit the mold or think you can learn to, it is time to look around for instructions on how to trade. There are a huge number of forex trading systems available and all you need is one that works, so it should not be too difficult … right?

In fact, the idea of a forex system that ‘works’ is misleading. Trading systems do not work all by themselves, unless they are automated, and even then you have to set them up in the right way in order to maximize the potential profits without exposing yourself to too much risk. Manual systems depend even more on the individual who is using them.

So one of the reasons that people find it hard to track down good forex trading systems is that they are looking for the ‘one size fits all’ perfect currency trading system, and it does not exist. If you look in forex forums you will not find a single system that has 100% positive reviews. There is always somebody who ‘couldn’t make it work’ for one reason or another. This is because not all the traders will be comfortable with certain trading systems however good the forex trading system may be. For instance traders who are mainly into short term trading may find forex scalping as the best option and will definitely agree that a good scalper system such as the Delphi Scalper system is the right choice. On the other hand traders who would like to take the advantage of 24 hours market may go for automated forex trading robots such as FAP Turbo or Forex Megadroid.

However, you should be able to find a currency trading method that works for you if you have the right attitude when you are looking. That is, search for something that fits your own trading style. If you do not yet know what that is, just try out a few free systems in demo mode to see if you are better suited to day trading or longer term trading, and how much you can handle in terms of technical analysis.

    Recommended Forex Trading Systems:

  • Delphi Scaler: DelphiScalper is highly recommended for forex scalping.
  • Forex Rebellion: This is a simple yet effective mechanical forex trading system.
  • FAP Turbo Robot: The most popular commercial forex expert advisor or automated forex trading robot.

Many people find day trading more stressful but it has the advantage that at the end of your trading hours you have normally closed all of your trades so you can switch off completely and relax. Long term trading involves leaving trades open, and you might find that there is always a little worry at the back of your mind, especially at first. You might be sneaking off to the computer at all times of day or night to see what is happening to the prices. Give yourself a little time with various forex trading systems in demo, and you should soon find one that is righ

Currency Trading for Dummies

You probably know that the “Dummies Books” are famous for the simplicity and plain English in which they explain and teach complex topics. Forex Trading for Dummies or Currency Trading For Dummies is a book by Mark Galant and Brian Dolan that aims to provide a comprehensive introduction to forex trading (also known as foreign exchange trading or FX trading) for beginners. Let’s see what is inside this dummies book.

What in inside Currency Trading For Dummies?
The Currency Trading for Dummies book is 360 pages. It is published by John Wiley & Sons in the ‘For Dummies’ series of reference books whose stated aim is to put complex subjects into plain English for beginners. It is clearly written and should help people who want to get started with currency trading but do not have any background knowledge.

As this is a physical book, there are no video tutorials. You are on your own here. This is reflected in the low price. If you need a currency trading pdf book I suggest you to see Bird Watching In Lion Country book.

Currency Trading for Dummies Level And Coverage
Currency Trading For Dummies is clearly aimed at beginner traders. With some notable exceptions (see below) this gives a well structured introduction to forex trading. Special terms and concepts are well introduced and the language is appropriate for people new to currency trading, although some understanding of the financial markets generally is assumed. Some terms are not explained.

The explanations of the workings of the market and the section on currency pairs are excellent. Fundamental analysis is well covered too. The book is weaker on technical analysis and actually setting up trades. Its strong point is bringing you to an understanding of how the forex market actually works, which many of the more practical, system-based trading books hardly cover at all.

The established forex trader will not find much that is new on the practical level here, although the sections on mindset and attitude are covered well and could be helpful for anybody.

Currency Trading for Dummies Review :
There is quite a lot in this book that is open to criticism. For example, they suggest that you should develop your own trading system and trading plan, which is a worthy goal. However, they do not tell you how to backtest a system, which is a very important step. Testing is vital before you go live with a system. While you can and should do real time testing on paper or in a demo account, backtesting is much quicker and can rule some possible systems out of court very fast. You cannot realistically test 10 or 20 possible variations of a system live; but you can easily backtest them.

Also, there is not much coverage of certain steps which are essential to the beginner, such as choosing a broker. We have seen it suggested that this is a deliberate omission because the authors are allegedly associated with a market maker which prevents them being objective. Certainly, if true, it would be a reason for not pointing up any of the possible disadvantages of going with a market maker, which in our view, beginners should be warned about.

They do not give an example of a profitable system that you can use yourself. This is explained on the basis that you should develop your own. While this is undoubtedly the ideal, most beginners will be looking to buy into something that could work for them as a starting point.

Cynics will wonder if the authors really know any profitable trading systems. The book is so much stronger on market information than on practical trading, that it is no surprise to hear that it was authored by people who are on the brokering rather than the trading side of the business.

Summary
This is a useful introduction for beginners interested in forex trading who like to read rather than following video tutorials. It does not set out a trading system to follow, so you will have to look elsewhere for that. It leaves certain things to be desired but on the other hand, it’s not expensive. Let’s face it, you wouldn’t expect to get the perfect trading system for a few dollars. Overall, good value for the price, but it does not contain all that you need to know.

Currency Trading For Dummies is available from Amazon and other online and high street stores.

Easy Forex Trading

How to Make Money Fast and Easy with Forex Trading?
How can I make money with forex trading and is it possible to make money fast with forex trading? These are some of the common questions you can find on any currency trading forum. There are so many advertisements out there that endorse ways to make money. Earn little extra cash from home, make money online, replace your day job or start a home business … whatever you want to do; there seem to be a hundreds of ways to do it. And yet we all know that it not really easy as it sounds. Naturally now the questions arising in your mind should be, is the same thing true of forex trading?

Forex trading is currency or foreign exchange trading which involves anticipating the movement of currency prices around the world. A forex trader exchanges one currency for another because he thinks that the price of one currency will rise and fall relative to the price of the other.

For example, if the US economy is doing well but the Canadian economy is doing badly, you might want to trade the USD/CAD currency pair. You would buy the currency pair which means that you are buying USD. One time when you might want to do this would be if there is a fall in the price of oil. Canada is a big exporter of oil and the USA is a big importer, so the value of the US dollar against the Canadian dollar is likely to rise when oil is cheap. This could be true even if the US dollar is falling against other currencies.

Of course, if you just had a couple hundred dollars in an account that you wanted to invest in this trade and you got 1 for 1 when you bought this currency pair, you would probably not make more than a few cents on the trade. Currencies just do not change in value that much that fast, at least most of the time.

So forex traders use leverage to increase the size of the sums that they can control (lots). Brokers will allow you to open a trade a position that is at least 100 and sometimes 200 times the amount that you are putting up. This means that your $10 controls $1,000 or $2,000 in the market, or your $100 controls $10,000 or $20,000 in the market. Now the profits could be a lot bigger. This is how people make money fast with forex.

From this example you will see that forex is risky. In this it is like all speculative investment. Generally speaking, the risk increases along with the potential returns. There are safe investments like government bonds where you have a guaranteed return, but it’s low. Then there are risky investments like stock or forex trading where you can make money fast and make a lot, but on the other hand you can lose it all. So it is important not to trade with money that you cannot afford to lose.

Fortunately forex brokers provide demo accounts where you can try out your skills and trading systems on a virtual money account until you are profiting on a regular basis. It is necessary to practice in demo mode for a while before you go live, so forex is not something that can turn a complete beginner into a millionaire overnight. The truth is, there is nothing that can do that outside of gambling, which is even more risky.

However, once a person has learned to trade forex steadily and well, it is certainly possible to make money fast with forex. I would suggest you to spend some time and money on forex education. You could reduce the learning curve by utilizing automated forex trading robots like FAP Turbo or Forex Brilliance. However remember that even if you are using a Forex EA you still need to learn the basics.

Euro Trading

Euro USD is one of the most popular currency pair in forex market. Most of the traders when they start out making money with forex trading they go for Euro trading against the dollar. However, unfortunately most of these traders know practically nothing about the Euro trading. The only thing they look for is the euro to dollar conversion or the exchange rate. But when you are doing currency trading in euro there couple of significant facts that you should be aware of.
Unlike other currencies the euro is a very unique currency because it is not the historical currency of any nation. The euro was introduced after the formation of European Union or the European Economic Community. The European country leaders and European bureaucrats realized that it would boost their economic activities if they have a common currency. Today, Euro is the second most traded currency (after the US dollar), in the forex market. Naturally Euro is a very significant power in financial markets.

History of Euro:
The European Economic Community or the European Union was formed as a means of lowering trade barriers between nations in Western Europe. Over the years it has extended to include countries in Eastern Europe. However the most important factor for expansion of euro trading is the formation of the European Monetary Union (EMU) and the introduction of the currency euro, which happened during the beginning of this millennium.

Facts You should know while Trading in Euro
The euro is controled by the European Central Bank (ECB). Because of its status as a multinational regulatory bank, its remit is a little different than the US Federal Reserve. The European Central Bank is concerned solely with interest rates and maintaining price stability within the Euro zone, while the Federal Reserve and most other national central banks also have to consider the effects of their decisions on employment levels. Continue reading

Bird Watching In Lion Country 2010

Bird Watching In Lion Country 2010 by Dirk Du Toit’s is an updated version of the revolutionary forex guide. Bird Watching In Lion Country is a wired name for a forex trading book. But despite of the weird name, the original version of this book which was released over 5 years ago has become extremely popular and emerged as one of the best selling currency trading eBooks ever. In this Bird Watching In Lion Country 2010 review, we are going to examine the details of this guide and how it can benefit you to earn money from forex trading.

What is inside?
According to Du Toit the forex market is a dangerous jungle or the lion country. You know that well. Do a search on google for forex trading and you will see hundreds of websites and gurus claiming that they will teach how to make big bucks with forex and how the automated robots can make easy money etc. And you often wonder why can’t they use their system to trade and make money. The fact is that there is no easy money. According to Du Toit’s if you want to go bird watching in lion country like forex market, you must know the dangerous and learn which is the best route and which routes should be avoided to reach your goal.

Is Bird Watching in Lion Country suitable for me?
If you want to do manual trading and make big profits in the long run, then this book is for you. On the other hand if you are looking for a simple forex trading system based on an indicator you might want to consider one of the popular forex robots like FAP Turbo.

What is New in 2010 version?
The guide covers all forex trading essentials quite comprehensively. The new Bird Watching in Lion Country 2010 gives an additional focus to a number of things such as drawdown which were not explained in detail in the first version. As you know drawdown is critical for determining risk and therefore it is an indispensable part of any flexible forex trading system. The new version also consists of case studies of real trading examples.

Download Bird Watching In Lion Country 2010 here…

Limit Order in Forex

When you learn forex trading you might have come across the terms stop/loss and limit order. What are they and how they benefit for you to make money from trading?
limit-orderLimit order and Stop/Loss are conditional orders. We call these conditional orders because they will not come into effect unless certain conditions are met. There are two types of conditional order that you can place while trading forex. They are the stop loss (which is also known as stop/loss) and the limit order.

The Stop/Loss
The stop loss is a familiar order that controls the risk involved in a trade. With a stop loss, you are giving instructions to the broker, “If the price goes this far against me, I want out.” So if you have bought a currency pair expecting an increase in price, but then the price falls, your whole account balance will not get wiped out. The stop loss will be triggered when the loss reached at certain level according to your settings and protect the majority of your funds.

A Limit Order
A limit order is similar but applies to the opposite situation, the condition where you have a winning trade. With a limit order, you are instructing the broker, “If the price reaches this level, that’s enough, I’ll close there and take it.” Once set, the limit order will be activated if your pre arranged price (desired profit level) is reached and the trade will be closed at that price.

Many new forex traders are reluctant to use limit orders when they first start out. For them limit order seems counter intuitive. After all if the market is going your way, why would you want to close the trade? Wouldn’t you want to hold on as long as possible to get the most profit out of it? This is a serious mistake committed by many new traders.
The trouble with that approach is that sooner or later the price will reverse, and often it does it sooner rather than later. If you do not place a limit order, when will you close the trade? How will you know when it has gone as far as it is going? If you wait too long, a sudden reversal could see all of your profits wiped out.

So unless you have a system that is set up with very precise criteria to tell you when to close a trade, you will probably be better off if you use limit orders.

And where do you set them? Back testing your system can be helpful here. You can check through the last months and years of markets that would trigger a trade under your system and figure out what would have been the optimal setting for the limit order. However remember that past results are not necessarily going to be repeated in the future. Testing your limit order settings in a forex demo account is also useful.

In most cases you will want the limit order to be further from your starting point than your stop loss, even after spread is taken into account. This will mean that you only have to score a 50% success rate to be in profit. Setting the limit order at twice the pips of the stop loss, either before or after spread, might be appropriate. However, this depends on your system. Don’t skip the testing.

Using limit orders has another valuable benefit too. Once you have both stop loss and limit order in place, you can walk away from the computer and get on with your day. Though you won’t get the kind of freedom you can achieve through automated forex trading robots, with limit order and stop/loss in place there is no need to watch every little fluctuation of price until one or the other is triggered. This reduces stress and makes it less likely that you will panic and deviate from your original plan. So using limit orders in forex trades makes for a happier, more profitable trader.
For complete hands-free forex trading I suggest you to get a good automated forex robot like Forex Auto-Pilot Turbo (See FAP Turbo Review) or Forex Megadroid.

How to Use Scalper Expert Advisor

How To Use a Scalper EA to Make Profits

Forex scalping, if it is done correctly can be highly profitable. Using a forex scalper EA (expert advisor) can be a very lucrative way to trade the currency in Fx markets though it also very risky. Some forex traders seem to make a ton of money with scalping while others lose their shirts. So what is the difference and how can you stack the odds in your favor when you are using a forex scalper expert advisor?

1. Choose your broker carefully
It is crucial to get the correct broker when you are using a forex scalping system or a scalper robot. Many brokers do not like scalping strategies and particularly object to the quick profits that can be made with scalper software.

Usually these brokers will be market makers who will carry the risk of a trade themselves until they can match it in the ECN. If your scalper EA moves in and out of the market very fast, they do not have a chance to cover their risk, and so you profit will be their loss. As you can imagine, if you are very successful they will soon decide that they do not want your business.

Brokers who have a place in the ECN and do not have to rely on a third party are more likely to be happy to accept your robot’s scalping strategies. To find an amenable broker either ask the developers of your EA or look for recommendations from other scalping traders in forex forums.

2. Manage your risk
Many people new to forex trading assume that because scalping strategies rely on many small trades, they are less risky than systems relying on a higher profit per trade. This is not true at all. Scalping is just as risky as any other form of forex trading. Risk management is essential if you do not want to be wiped out of the game.

For the same reason it is important not to overstretch in terms of leverage. Certainly, do not choose a broker by looking for the one that gives you the highest leverage, unless you are very sure of the drawdown of your system and that you can cover it.

The problem with a high leverage means that triggering a stop loss will mean a greater loss. Sure, the profits are higher too, but when you go through a bad patch you can run through your funds very quickly. It is important that your account can take the battering. It is much more likely to be able to do that if you have kept your risk and your leverage low.

3. Understand your Scalper EA
It is also important to understand what your scalper expert advisor is doing. This means having realistic expectations about things like the number of times it will trade in a week, how much on average it will make on a successful trade, how much it will lose on an unsuccessful trade, what percentage of trades are successful, etc.

All of this helps you to know what you can expect in terms of your bottom line in the long term and what will be the optimum level of risk. When it comes to risk, by the way, always assume that the worst case scenario is at least twice as bad as the worst patch that you have seen.

You cannot rely on information from the developers or from other users in this respect. This is not a matter of trust, it is just that different variables will apply to each individual. So do your own back testing and demo testing before you start to use a scalper expert advisor live.
I suggest you to check out FAP Turbo or the new Forex Black Panther robot for automated scalping software.