Tag Archives: forex Training

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 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.

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.

Forex Investment

If you are interested in investing in forex market it is essential that you know the basics of forex trading and learn how Forex investments can be profitable.

fx investmentFirst let’s see what exactly is, Forex trading. The word Forex is an acronym for FOreign Exchange which is also known as currency trading. In a nutshell, when you invest in forex trading you are going to buy foregn exchange for a low rate and sell it when the rate increases to make profit. Forex investments can be considered similar to stock market in principle with some key differences which makes Forex unique.

Forex Market is open 24 hours for Investment:
Unlike the stock market, forex trading market is open 24 hours a day during the 5 business days in a week. This is because the forex trading market is global. While the stock trading is done through the national stock exchange, forex traders deal globally by exchanging currency of country for another. The traders observe the price movements and enter into a trade when they feel the price point is right, and then they exchange the currency back to close the trade to earn profit.
By the time the forex market in United States close the Asian market is open. Thus it is the foreign exchange market is open somewhere in the world all the time, except on weekends and non-business days. One of the major advantages of forex investments is that you can do trading at just about any time of day or night, according to your convenience. You might also have to take the currency pair and the trading system into consideration while deciding your trading time. You might want to learn more about the best time to trade forex.
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Forex Day Trading

3 Factors You Should Take Into Account while Day Trading

The most common way to earn money with Forex day trading is trading the Foreign exchange news. That is, opening short term trades according to the upcoming forex trading news. Still, as most forex traders know, this is a very risky trading system and it is easy to get trapped into a losing situation. In this article we look at 3 very important things that you have to take into account if you like to benefit from day forex trading based around currency trading news.

1. Market Expectations
Failing to consider market expectations into account is a very common fault in news based day trading. We will explain this with an example. Let’s say there is an forthcoming broadcast of US trade information. As per your prediction this announcement to be good for US dollar, so you open a trade just before the declaration is due.

But you forgot to take into account the fact that the foreign exchange market in general was expecting this report to strengthen the dollar, hence in fact, the price movement was already happening slowly in the days or even weeks before the announcement. When the report is made, there will only be a big price movement if the broadcast is considerably changed from expectations. (Also see fundamental analysis)

That means that your trade will only pay you well if the report is much more encouraging than everyone anticipated. If the report figures are good but not as beneficial as expected, the US dollar might plunge because the market outlook in advance of the announcement was exceedingly high. So you possibly will actually lose out.

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Importance of Forex Training

Forex is a goldmine. People hear about huge potential of forex trading and jump straight into trading without even learning the essentials. If you would like to make money with foreign exchange, you will surely need good training in forex trading. It is true that currency trading is perhaps one of the most lucrative money making opportunity for small individual investor. Forex market attracts more and more people because of its relatively low margins, particular patterns and trends with which you can identify winning trades and of course the enticing opportunity of making loads of money. On the other hand, foreign exchange trading involves big risks and without proper forex training you wouldn’t know how to protect your investment and avoid massive losses.
Of course there are managed forex accounts and automated forex robots available in the market. However you must realize that they are not substitution for good forex training and it is absolutely essential that you get good understanding of the market and the risks involved in forex trading.

In order to make some serious cash with forex trading you must do the trading by yourself. A forex trading robot like FAP Turbo or Ivybot can make you money but nothing compared to what experienced traders are making by doing the trades themselves. To do the trading yourself you need solid forex training which goes much deeper than the basics. You will most likely lose money if you do not get good forex education. Forex Made Easy Hence it is important that you take your time to learn technical analysis especially learn how to read charts and identify winning trades.

On internet, there are numerous websites and expert forex traders offering forex training online. These offers include free informational websites, forums and ebooks to paid ebooks, forex training videos, membership websites that offer personal mentoring and expensive coaching programs and seminars.

Who Offers the Best Forex Training?

A successful forex trader need not be a great teacher and not all great teachers are good at practicing what they teach. However if you are going for the expensive seminars or coaching programs make sure that the mentor got first hand experience in forex trading. If you are absolute newbie at forex trading, you may want to start out with a free site and free forex ebooks. Once you have learned the basics and ready for actual trading buy a good foe guide with simple yet effective trading system. If you have decided to join a mentoring program, then verify that the mentor is well qualified to conduct forex training. Join for a forex mentor program like Pip Mavens which offers monthly payment option. That way at anytime you feel that your forex mentor is unable to help you out of difficult situation, you could leave the forex training program without losing your money. However the mistake that most beginners commit is the lack of patience. Most of the respected traders became successful after years of trading experience.
If you join a forex a training membership site which provides step by step forex training then follow it whole heartedly. Do not lose you patience and skip any steps. Practice what you have learned on a demo account.

What to expect from a good Forex Training program?
A good forex trading training will teach you how the forex market works, what are the risks involved, how to perform technical analysis, how to identify winning trades and how to perform actual trading. Knowing when to enter in a trade and when to close one is really important. The currency trading education should help you to understand the importance of your trading decisions, both when entering and when exiting the market.

Technical analysis is one of the most important parts of any forex training and you can expect it to cover interpreting charts and indicators to identify trends and price movements in the foreign exchange markets. Make sure that you spend enough time and practice yourself to get a thorough understanding about forex technical analysis. Fore education programs will also tech you about fundamental analysis and might advice you to watch out for forex news and signals which should help you to stay away from trading if the market is highly volatile.

You can become a highly successful trader if you have a desire to learn and attain the necessary skills of forex trading. It needs patience, dedication and persistence. Forex trading is not a get rich quick scheme. If you are dedicated to learn forex and apply these qualities to your forex training it will be life changing experience for you.

Pip Mavens

The Pip Mavens Inner Circle is a complete forex training membership site. Inside Pip Mavens inner circle expert trader Chris reveals his secret trade journal where he is sharing his daily trading details, price movement interpretations, and explanation of the exact strategy he is using at that very moment to enter into profitable trades. You might have already come across various forex education membership sites online where the members will be provided forex trading guides and custom indicators etc. So what makes this Pip Mavens inner cirlce better (or worse) in comparison with other online forex training sites? In this Pip Mavens review we will examine these factors in detail.
Pip Mavens is not available for general public now. However you can get into the inner circle by invitation.

Pip Mavens Review

First, let’s see what is Pip Mavens & What is Included in the membership. In a nut shell, inside the Pip Mavens inner circle you will be guided by the famous forex expert Chris Lee to your financial freedom. The membership includes custom forex indicator, advanced forex training home study cource and invaluable trading advice & tips.

Pip Mavens: Pros
Forex expert Chris Lee who is a very friendly person will literally hold your hands and show you exactly what to do to make money in forex trading. Chris Lee is renowned Forex trader and trainer and is the creator of widely popular Forex Candlesticks Made Easy guide.
Chris provides real life trading tips and forex signals on a live trading account for inner circle members. Besides he also provides excellent support and the strategies he used are really simple and straightforward and most importantly easy to understand.
Pip Mavens concentrates on EUR/USD currency pair which is the most widely used pair and the time chart used is based on 4 hour time-frame.
The advanced forex training course contains 7 modules including basic forex education to money management and advanced forex trading strategies.

Pip Mavens: Cons
One of the drawback of Pip Mavens is that Chris the forex expert behind Pip Maven only use EUR/USD currency pair. While the forex training course will definitely help everyone, the custom indicator and trading signals are for EUR/USD pairs only. Hence if you are not trading the EUR/USD, Pip Mavens may not be suitable for you.
Pip Mavens Features… | See Pip Mavens Inner Circle

Forex Trading Tips

Forex market is the largest financial market in the world. Trillions of dollars are being traded on foreign exchange market on every business day. Naturally forex market is attractive to anyone who wishes to make money online. However forex trading involves high risk and if you do not have enough knowledge on currency trading you could suffer heavy losses. The following 6 forex tips are useful for anyone who is starting out in forex trading. So let’s see these essential forex tips.

6 Forex Trading Tips

1. Learn Technical Analysis
Learning technical analysis is the key to become successful at forex trading. Of course following forex news for fundamental analysis is important since you need to know when to stay away from forex market. However the most effective to trade forex is to utilize Forex charts and simply follow the reality of price change as it occurs on the chart. Invest your time to read the charts and identify trends.
If you concentrate on this you can learn technical analysis in few weeks and start making profits.

2. Start with Simple System
Do not go for complicated trading systems in the beginning. You will end up with losses and frustration. When you are starting out in forex follow a simple system which only consist of chart support and resistance and a few confirming forex indicators.

3. Avoid Forex Robots
The idea of making money from automated forex trading is really appealing to everyone. However keep in mind that many of those so called forex robots are just hype and do not work in the way they claim. Of course there are few good forex software programs like FAP turbo robot and Ivybot. However if you want to make real money from trading, it is absolutely essential that you learn technical analysis and do the trading by yourself.

4. Control Your emotions
Occasional losses are inevitable in forex trading. Even the best forex traders in the world make losses. When you lose the money you either lose your courage to trade further or get angry and want to take the revenge. Both are evil emotions as far as a trader is concerned. Make use of stop loss and learn to accept minor losses. This is a business and not gambling.

5. Leverage is not always good.
One of the major attractions of the forex trading market is the high leverage offered by brokers. Many brokers will allow you to trade with 400:1 leverage. While this might seem attractive to new traders who got less money to invest, you should know that if you lose one big trade your account might get liquidated. If you are a new trader never go for more than 20:1 leverage.

6. Discipline the Success Secret
Some of the most successful traders use simple and straight forward system to make money with forex. What is the secret of their success? Discipline. Once you have winning system never deviate from the system. Time to time you will come across people making big claims about their new trading systems. You might get tempted to test them. If you want to test a new forex trading system, test it on a demo account or you can even open a new mini trading account. Dump your existing trading system only if you are 100% confident that the new trading is far better than your existing system.

You can make money in forex. I strongly suggest you to invest some time and money in good forex education. You can read books or join a forex mentor program like Pip Mavens and learn all you need to know about profitable forex trading.