Is there a good guide on when to enter and exit for forex trades?
Answers: I work for a bank and I still get quite nervous when entering trades. But I found a new software that is very useful. Forex Killer. It gives the forex signals for entering and exiting trades.
Maybe you can check Forex Killer out. It's not expensive. My office mates also like it.
I'll tell you the right answer, but it's probably not what you want to hear.
No offense, but if you are asking those questions, you should not be trading in Forex. FX is not for beginners, and even advanced traders lose fortunes in FX trading.
If your desire is to hedge the dollar or make money off of currency fluctuations, there are far better options than FX.
i.e., companies that benefit from currency change. Not only will you make money off the currency fluctuation, but you can possibly make additional gains because the company has other strong factors.
Another possibility is a foreign stock. You'll get the gains from the company, and additional gains from the fact that it's a rising currency when you switch back.
Try zorro trading guild
they make 600+ pips in January alone
Email me if you want
http://www.forex.com/learn.html
Link will answer many questions and answers you should know. I have 3 accounts (never put all your money/eggs in one account/basket). You can start with $500 when you can afford to open account. Since you are just starting you will lose money if you don't learn the basics, first. #1 best tip, don't trade your real money until you try trading demo account. When you can trade a demo for about 2-3months daily and make money then if you feel ready slowly start trading real money. So making and/or losing money depends on how well you can trade. For some it very profitable, for many it is not.
Know when and the fundamental news that affects price swings are reported. Stay clear during these volatile times because they can take out your stop in a heartbeat and a few beats later go back the other way. And remember that the news could already be mostly priced into the current price. And don't trade against current trends.
I use Lightning Strikes Trading System for trading in any time frame and it works on forex, stocks, bonds, etf's, mutual funds, etc... They have 3 free training sessions a week and you don't have to buy the software to join in the live chat and text. They focus their training/trading on the Forex markets major currencies. You can even watch some recorded past live sessions. Here are some past charts that I used.
http://f1.grp.yahoofs.com/v1/MB16R0zjjaZ...
http://f1.grp.yahoofs.com/v1/MB16RxjOUQt...
There are 7 indicators (2 short, 2 medium, and 3 long term) and if volume is reported another one is added (on balance volume). Plus whatever time-frame is used the 2 green horizontal lines are the support and resistance for that time frame. So when indicators are all touching the bottom price is at or very, very near support. At top is at or very, very near resistance. Which helps my entry/exits and risk/reward ratio.
http://f1.grp.yahoofs.com/v1/MB16R9Wv-wt...
http://f1.grp.yahoofs.com/v1/MB16R9wSKdV...
http://f1.grp.yahoofs.com/v1/QCt6R2fYIj6...
http://f1.grp.yahoofs.com/v1/QCt6R3R0VQe...
If you can not view charts above or want to see other charts, I can email them.
Try what you learn on demo sites. They can be a very fun but educational way to learn from mistakes. If you pick 75% right with play money then you might be ready to start slowly investing.
http://simulator.investopedia.com/
http://simulator.zacks.com/
http://www.fxcm.com/open-free-100k.jsp
http://www.alpari-idc.com/en/metatrader4...
Or just G00GLE for more.
Best Wishes,
Burt Whitley
Yes. A list of Best Answers to this question are given here:
http://commonsensetrading . G00GLEpages . com
Look for discussions on the "50% retracement rule."
There are plenty of guides, unfortunately most of them don't work.
You can look at reviews websites like http://www.forextopten.com/ so that you know what could work well for you.
How do you variety money from the stock open market when it is going down?
I went to a shareholding course and they said it is possible to put together money while the market is going down. The course be designed by SITM.Answers: There are actually several ways. Truth be told, making money in a undergo market is a full lot faster. Ill just run through a few of the ways to facilitate get your started.
You can short go the stock. Basically you Sell first, then buy support later. For instance, Sell at $10 and if the stock falls to $8, buy it put a bet on. You profited $2.
You can use options, and this carry long.
Buy Put Options: The value of the Put Option rises as the stock attraction falls.
Sell Covered/Naked Call Options: If you own a stock and think that its going to dive in price, you can put on the market calls. This, contrary to belief is closer to short selling stock than buying Put Options is; within that you sell large and buy back low.
Naked Calls is when you supply a covered call minus owning the stock. Very risky and advise you to not use this method.
If you dont know option, I highly suggest educating yourself first.
Last, own companies next to a high dividend earnings out.
I hope this helps. If not, Please contact me.
Christian Nago
CEO & Chief Investment Officer
www.intrepidtradings.com
You can short the stock. Basically you deal in the stock at its current price and buy it back after that. If it goes down you product money, if it goes up afterwards you lose.
You can also use options. By buying a put you achieve the right to sell the stock at a dependable price for a given period of time.
Easy. Short the souk.
You can purchase ETF's that mimic a short position in stocks.
But it's not for the giddy of heart. People lose a ton of money trying to short the market.
Short the stock and examine your $$ grow in bearish open market
Is any one aware of Strategic Day Trading Course. Is it worth paying INR 998 for this course. Is time trading?
is very Risky? What are the risk factor for a beginer?Please advice!!
Answers: Rich get it right. Day Trading is risky and very few empire are good at it. None of the worlds top investors get there by afternoon trading.
Day trading involves technical analysis just, and the trader needs to receive quick decision on what to do.
You are better off investing for longer period of time.
Christian Nago
CEO & Chief Investment Officer
www.intrepidtradings.com
No. Not worth it. If it were that flowing to day trade and form money, everyone would be millionaires.
Invest for the long term. There are heaps great books that you can read to get you started.