FXCM: Your Online Forex Trading Solution

Written on 13 November 2008 by Staff

If you are actively trading in the New York Stock Exchange, one of the most active exchanges in the world, you should be very thankful. The average of its total daily transactions are approximately at U.S. $50 billion, making it the largest stock exchange in the United States in terms of dollar volume. There are many individuals who want to get their feet wet on the ground of this New York City-based stock exchange.

Yet, you are luckier if you are seriously involved in trading foreign currencies, or commonly known as Forex trading, which is considered to be the most extensive market on the world. Its average daily trading turnover is approximately U.S. $2 trillion, exceeding the combined dimension of all other equity markets, including the New York Stock Exchange. Thus, you are luckier since you have the opportunity of getting more profits out of that $2 trillion traded everyday.

If you are not yet involved in Forex trading, then you are not currently taking advantage of the benefits of trading foreign currencies—24 hour trading time, transactions conducted in real time, extreme liquidity, and others. Thus, you should decide to get a Forex trading account and start trading right away.

However, just like other types of investment, you must be under knowledge of what kind of ground you are stepping into. In other words, before getting a live Forex trading account, you must be properly informed first about the background of Forex trading. You must learn how you will maximize your earning potentials as well as decrease the risk that you are into through practicing with free demo accounts. Moreover, you must have a trading system to follow and the necessary tools that will help you analyze varying conditions of the Forex market to position yourself on the profiting aspect of a certain trade.

Once you know what you are getting into, you are now ready to get your live Forex trading account, web-based trading system and platform, and other tools that you will need for operating throughout your Forex trading career. Most neophyte Forex traders obtain their trading accounts and platforms through a Forex brokerage company or agents. There are many brokerage firms out there and you need to be selective, or otherwise you will suffer the adverse consequences.

If you are not still sure about which Forex trading company you will trust in the early start of your Forex trading career, why not trying FXCM? They probably got what you need and at the same time the key towards the success of your Forex trading career.

FXCM stands for Foreign exchange Capital Markets, a USA-based online Forex trading company that is founded in the city of New York. Since it was founded a while back,  FXCM is now one of the major Forex institutions, particularly in online day trading, with an average trade volume of U.S. $70 billion per month. They offer their clients quick access to the speculative Forex market through online dealing platforms that allows forward and stop trading of 27 pairs of foreign currencies in addition to several precious metals.

If you will open a live Forex trading account with FXCM, you will obtain several benefits such as the following:

• WYCIWYG or “what you click is what you get” advantage. It means that the price you clicked on at the start of the deal will be the price you are executed at, thus no single movement on the foreign currency price.
• NRFQ or “no request for quote”. You can click on any live streaming price list and there are no requirements even on fast markets. Expect that there will be no dealer intervention and timers.
• There will be no commission collected for every transaction that will be completed using the FXCM trading platform. All profits will go to your pockets and no-one else.
• You are allowed to have multiple online trading platforms for maximized trading flexibility.
• With FXCM, your risk is only limited to deposits or funds. Therefore, you will never owe more than what you have invested in your Forex trading account. This means that there are no negative balances, whatsoever.
• You can open a live Forex trading account for as low as U.S. $5,000.
• There are 27 pairs of foreign currencies that you can trade within several clicks.
• You have access to 24-hour foreign currency trading and technical support services also on weekends.
• There are no confirmation delays—only instant and real time trade executions.
• Secured online trading platform.
• Technical analysis and real time charting tools for your better evaluation of the market.

With FXCM, the start of your Forex trading career is as good as a veteran trader. A good jump start and continuous success is waiting for you at FXCM.

Is Forex Trading for You?

Written on 11 November 2008 by Staff

It’s vital to have realistic expectations when you’re starting out with FX trading. Too many people enter into it with the misguided notion that they will become rich overnight. Unfortunately, there are countless operators in the field who can make you believe this and they are only too happy to take your money for the privilege. Forex trading is a complex pursuit that needs to be examined and understood to a high degree before any money is put into it.

No one should ever invest real money in Forex trading without first trialing the system using a free trial account offered by dozens of different brokers which you can find on the Internet. It’s also a great idea to do a course, talk to experienced traders, canvas a few brokers and read up on all the material you can get your hands on. Try the newspapers, financial publications, the Internet and television programs that deal with finance news.

Here are some important considerations you should make before you invest a single unit of currency in the Forex market:

• Be prepared to be bombarded by the neigh-sayers. Trading on the currency markets is rife with volatility, but that’s what makes it so attractive! Speak of your intentions to enter into this field with anyone conservative and you’ll face a barrage of comments such as: “Wouldn’t you rather invest your money more safely?” or “Why would you want to risk throwing your money away like that?” Steel yourself for the comments and arm yourself with the information that matters to do it with caution.

• You could lose every cent you invest! Yes, it’s true. Plunging head first into Forex trading without knowing what it’s all about in advance is a pretty sure way to lose a large sum of money. Educate and inform yourself, and practice with the trial accounts before embarking on real trading. Learn about the methods that will help you apply brakes to your losses before they become significant. Understand the system.

• Expect to feel overwhelmed. When anyone enters into an unknown world, there are always feelings of getting in over one’s head. This can be minimized by learning all you can. Even children starting their first day at school are given plenty of guidance as to what to expect. Nervous mothers teach them about how to get around, where to go, who to ask for advice, and eventually the day comes for walking into the school yard. Regardless of all the motherly advice and preparation, the child will naturally still feel plagued by feelings of doubt and insecurity. As you proceed in Forex trading, you will become more comfortable in the trading environment.

• Don’t expect it to be easy. If Forex trading were a cinch, everyone with a spare $1,000 to spend would be doing it! There’s a lot to learn and situations change many times each day, which can make your head spin!

• Not suitable for every personality type. Forex trading offers highs and lows that can be very unsettling for those who are faint of heart. It’s also not pursuit recommended for people with a highly addictive personality or who are prone to gambling problems. It can be very easy to invest too heavily on a whim and take huge losses as a result. Forex trading suits a more cautious, thoughtful punter, less inclined to act impulsively or recklessly without careful consideration.

Don’t be scared off Forex trading just because you hear words such as ‘volatility’, ‘losses’ or ‘plummeting economy’. The most important message you will ever hear about entering the Forex market is to know what you are doing and know what it’s all about.

Welcome to Forex and Pips

Written on 6 November 2008 by Staff

Hi Readers.

From today on, i will only have one goal.  To help you make money in forex on a consistent basis.  And if you have tried many other sites, you will know by now that everyone is trying to sell you individual parts of the puzzle, and after 7 years in this business I can tell you, you need the whole picture.

And based around this concept of needing the whole picture, I will show you my way of becoming successful trading the forex market. ..The way I have showed thousands of traders around the world:

Treating Forex as a business.

We will be talking about a lot of topics but NEVER forgetting about this main concept.  A strict money management policy and looking at this business as a long term one.

Rgds and welcome to everyone.

Rod