Friday, May 30, 2008

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How to Trade FOREX Using Automated Signals

It wasn't until recently that the average investor could participate in the foreign exchange market. Over 1.5 trillion dollars are traded on a daily basis in the FOREX market, which makes it very attractive for any investor. The truth is only 95% of FOREX traders ever see a dime when it comes to FOREX trading. Most of the money is absorbed by large investors and central banks.

Whether you are new to the FOREX market or are an established FOREX trader, traders are always in search of new trading techniques and systems. There is always a lot of different opinions when it comes to trading systems offering entry and exit points. A lot of them do not work, but yet at the same time a lot of them do.

Automated FOREX trading happens for a few reasons. One, not everyone is in front of there computer 24 hours a day and able trade at the most critical times. Secondly, anyone new to FOREX who finds it difficult to study the foreign exchange markets may be looking for a way to automate the process so that they do not have to figure out the FOREX market for themselves.

Typically FOREX signals providers send their signals via e-mail, SMS, or through a charting software program. Once the signal is received, if the account is a managed one, the signal will automatically execute the trade, if not a phone call to the trading desk or a click of the mouse from a trading platform will also execute the trade.

What to look for in a proven FOREX trading system.

When searching for a reliable FOREX signals provider, the very first thing to check for is a proven track record of success. If there is no hard data showing their trading success, then there probably isn't much money to be made and there signals aren't worth the money anyhow. A phone number to call for support or to ask questions is always good too. Having a phone number listed shows credibility in the trading system and that they are willing to share with you real results and their experiences.

There are many reliable FOREX trading systems available. Finding the right one can be a challenging task. Make sure there is plenty of support as well as a proven track record. There is nothing more discouraging than using a trading system that does not produce results.

About the Author

Tim Rohrer is an established Forex trader. To learn more about a reliable Forex trading system, visit

Forex, an alternative investment vehicle, Part 2

In the first part of this article I have outlined 10 good reasons why Forex (Foreign Currency Exchange Market) is an excellent investment opportunity for anyone to make money, online, even with very little start-up money available. In this part I will explain how to get started.

If you want to make money with Forex, online, you have to think of it as a business and treat it as such. You have to get serious about it and you need to get organised. Initially, you have to 'go to work' just like you would in a conventional business. Set aside some quite, work hours for yourself, in a quite corner of your house so you can concentrate on your business without any interruptions.

Also, as with any other business or trade, you have to train yourself and hone your skills, continuously. The Forex offers an amazing opportunity to make money, with little effort in record time, however, you have to know what you are doing and you do have to put in some work. Just as you would not allow your 10 year old kid to drive your fancy, expensive car, it would not be a good idea for you to jump into trading the Forex without learning how to drive this 'vehicle'.

If you are a beginner spend some time on reading up on the Forex and perhaps find someone who is already trading successfully. Ask them to mentor you or allow you to look over their shoulder. Once you have some idea on what makes Forex tick, you should open a demo account with one of the many reputable online brokers. This is the best way to learn what happens to your money and your account in the real world without actually risking any of it. You also have to develop good record keeping habits. It's not a hard job to do it, you just have to be disciplined enough to keep up with it. Again, it's no different from a normal business except that the rewards can be much, much higher in relation to the work you have to put in and of course you can do it from anywhere as long as you have access to the Internet.

So, here is a simple list of how to get started:
1) Setup a quite corner for yourself as a work-area,
2) You must have a reliable computer and reliable connection to the Internet, if you can afford a second connection to the Internet with a different service provider than it's even better (I'll explain why in a future article). Also make sure you are comfortable and have plenty of light, a dingy, dark corner will soon dampen you enthusiasm,
3) Set aside some 'quality' time for you business the same time, every day in the beginning, you can spend less time as you get more experienced,
4) Find out more about how the Forex works, train yourself and find a mentor who is already trading successfully,
5) Open a demo account with a reputable online broker,
6) Start keeping a record of everything that you do and why you do it. The easiest way I found to do this is with a simple Excel Sheet(c) or something similar,
7) Analyse the results of your actions and see how they affect the balance of your demo account,
8) Make backups of all your records, I can't emphasis this enough, it's really, really important,
9) Revise your actions and record keeping methods then go back to step 4.

It may sound a lot, however, most of it is common sense and applicable to any and all businesses. It is critical that you keep a record of everything that you do, whether it's changing your chair or the lighting, a new trading platform. Whatever you do make sure you have a record for it and an indication of how, if at all, it has affected your trading ability. I have records of everything I do, not just for Forex, but for all of my other businesses going back 7 years! Now, that's a lot of record keeping but with computers it's real easy.

I think we have covered a lot in this second part. I'll go into more details in future articles. Meanwhile, go through this article and start putting my suggestion in to action. If you have any questions about what I've said above or need information on anything related, just refer to the resources and links at the end of this article.

Wishing you success,

About the Author

Ference is fanatic about currency trading and teaching others about this amazing opportunity. Contact him at or visit his site at

What is Forex Trading?

What is Forex Trading?

FOREX, (FOReign EXchange market) or FX, is an international exchange market where stocks and shares are not traded, but currency. The return for the investor is not in the value of the currency per se, but rather the relative exchange value of one currency against another currency.

Therefore, Forex trading is always expressed in pairs such as Euro/US Dollar (EUR/USD) or US Dollar/Japanese Yen (USD/JPY).

By simultaneously buying and selling pairs of currencies, the investor, or speculator, hopes to profit from a favorable exchange rate change. Unlike the American stock exchanges, the New York Stock Exchange (NYSE) and the National Association of Securities Dealers Automated Quotation System (NASDAQ), Forex trading is more predictable than stocks.

One strategy that the Forex investor uses is a technique that stems from the assumption that all information about the market and a particular currency's future fluctuations is found in the price chain. In other words, an investor simply looks at what has happened to that currency in the recent past, and predicts that the small fluctuations will generally continue just as they have before. Another strategy for the Forex investor is to analyze the country of the currency's economy, political situation, and other possible rumors. The investor can also anticipate such things as political unrest or change that will also have an effect on the market.

Forex is the largest financial market in the world handling between 1.5 and 1.9 trillion US dollars a day. The combination of rather constant but small daily fluctuations in currency prices, create an environment which attracts investors. Because of the the liquidity of the market, unlike some rarely traded stock, traders are able to open and close positions within a few seconds as there are always willing buyers and sellers.

What are the risks?

Because of the sheer scale of the Forex Market, it ensures greater price stability and greater leverage. With built-in protection in the form of automatic limits for buying and selling, safety margins, and other risk protection measures, the likelihood of ending up in the red even when the Forex market is volatile is infinitely reduced. Furthermore, because of its' size, it is near impossible for a single investor to significantly affect the price of a major currency.

However, all Forex traders should note that the market is one of the most liquid around and subject to strong currency trends. While leverage figures of 100:1 are often times quoted, without adequate risk protection in place the pendulum swing between profit and loss can be dramatic. Even veteran Forex traders can be caught out from time to time and take large hits. With this type of investor speculation, the golden rule must be: don't risk more than what you can afford to lose.

About the Author

Richard Stranberg is a contributing author to the Forex Trading Guide. Visit the Forex Trading Guide at

How The Matrix Will Boost Your Forex Profits?

Perhaps you remember one of the most impactful movies of our time, the Matrix?
Morpheus believed totally in Neo to the point where he almost sacrificed his life to save him. Yet Neo did not believe in himself at the beginning, he was most uncertain about whether he was the One or not. So when he went to see the Oracle, she told him that being the One is like being in love, nobody tells you that you are in love, you just know it. The Oracle pointed to a sign hanging on the door: "Know Thyself"...

Still Neo didn't believe in himself but when agent Smith captured Morpheus and a member of his crew suggested to pull the plug so the agents of the Matrix won't get access to Zion, something in Neo changed and he began to believe...

A little further down the path of the One, Neo "accomplished miracles" because he learned how to believe in himself fully and completely. And remember Neo had a mentor who believed in him beyond any doubt and who taught him how to use his mind to defeat the Matrix and its dangerous agents. Neo's mentor, Morpheus, showed him the path and helped him empower his mind, yet Neo walked the path to his own success after he started believing in himself and mastered his own mind.

Perhaps you were wondering, yes and what has this to do with trading the Forex market?

"Know Thyself"

Forex trading or any trading for that matter is a mind game in the first place. Some people spend a lot of time and efforts perfecting certain trading skills and knowledge like reading the charts and data, entry and exit skills but any normally intelligent person can learn these skills, they are the easiest part of the trading game. They are no doubt necessary tools to your Forex success but they don't make the biggest difference between a really successful Forex trader and the one who is not successful. So what does make the difference?

Let's ask the question: what is your goal in trading the Forex? It is to make money. Period!
Surely while you're making the money and great profits you can have fun too and you should but what you need are specific mental attitudes and strengths, that is if you want to be a successful Forex trader. These mental states are an asset that will help you in many other situations and contexts of your life.

As my Forex mentor told me, the major three mental and emotional frames of mind that characterize the majority of successful FOREX traders are:

1.Discipline & Passion
2.Confidence & Courage
3.Patience & Smart Persistence

We'll touch upon all three briefly to make it as clear as crystal to you so you succeed in the Forex market.

Like trading a Pair of Currencies these mental and emotional mindsets go hand in hand.

Discipline & Passion

Discipline, say the most successful Forex traders, is really important! It helps you be more effective in planning your trades and in sticking to the good plans you established before entering the trade. Always have an action plan for stop and limit levels for the trade before you enter it, your analysis should cover up the expected upside and downside.

Passion means commitment and love for what you do. It is your passion for something that keeps you going, improving, constantly learning (willing to buy excellent Forex courses from experienced and successful traders, remember Morpheus mentoring Neo) and persist beyond the ups and downs of the business. You need to know why you are trading the Forex because it is an awesome opportunity that you have to take, so develop a passion for it. Simply do what it takes to be successful, learn from the best.

A word of Caution: Never mistake your "Forex passion" for emotion that you might feel while trading the Forex, when trying to enter a trade without using clear and sound entry/exit indicators and rules.
Have fun, learn, and stay tuned for future developments and grow as a person in strength and character in "your Forex business" while remaining emotionally detached when you get in and out of a trade. If you do, you are bound to incredible success in the Forex trading business.

Confidence & Courage

Successful Forex traders believe in themselves and their abilities to learn and grow, to acquire more competence learning from a mentor.
There is no reality only perception, the Matrix can trick you but you can have your own special Matrix inside your mind that empowers you with an unwavering belief in yourself!

Have the confidence and courage to stick to your plan and stay with your rules even if others are doing the opposite. Keep your vision (end result) that you can make it in the Forex market in your mind until you are successful in it.

If you experience a situation where you know exactly how a currency pair will go and have a sound trading plan, go for it! Sometimes people fail to follow their own good plans because all sorts of emotions get in their way, emotions like greed and fear. Stay calm and act with confidence and courage otherwise your planning, analyzing and information gathering will be totally useless to you.

You become more competent when you educate yourself about the markets and learn from successful traders. Self develop: "Know Thyself", get into the habit of monitoring your emotions and questioning your limiting beliefs so that your mind works for you and not against you. Don't take things too personally, if you make a mistake then consider it to be valuable feedback so you become more successful, never a failure!

Patience & Smart Persistence

An Indian wisdom says: "Life is always right!" we say: "the market knows much better than you do!"

Learn to listen and read the signs the Forex market is giving you. Learn how to wait, observe and only enter a trade when it is the right time to do so, before you can reap the profits.

It can be hard to wait before your Forex trading screen and not jump into action but The successful FOREX trader will enter a trade according to the direction of the prevailing trend or will wait until a new trend shows up and establishes itself. The waiting ranges from a few hours to days or even weeks before a winning trend appears.

even if you day trade and are not a long-term or position trader, you still are well advised to keep impatience from ruining your profit chances.
Also be patient means you stick with winning trades. But be most impatient with losing trades.

Practice "Know Thyself" and continue learning your Forex trading from the best and we are sure you will be a successful Forex trader. You will be on the path of Neo, the One himself!

Karima Begag

P.S. Karima Begag is an Internet Entrepreneur with special interest and "passion" for Forex Trading and Knows it is a Life Time Opportunity to generate income for anyone who is willing to give it a chance. For outstanding Free Forex Information go here:

This is only one of the many profit making lessons and winning tips taught at Forex Profit Secrets. To get instant access to a Free gem of Forex Freedom Course click here now:

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