With over 3.2 Trillion traded daily OTC (Over The Counter), it's no wonder that Fx online trading has has become so addictive during the recession where a simple trade can deliver leverages as high as 100:1 with sensational returns - and stunning losses.
The first month is make or break time for Fx novices who with little or no experience make the mistake of using money with they shouldn't and lose what savings they had in a blink of an eye.
Of course some get lucky, but discretional trading will not out live mechanical trading as the discipline just isn't there.
If you are brand new to Fx online trading then it is essential that you equip yourself with the following tools when you choose your trading platform:
1) Make sure you are given personal one-on-one training with which ever platform you choose to trade with. This training will be conducted through an online chat system.
2) Make sure you ideally receive a free guide to begin with to familiarize yourself with all the glossary terms and Forex chat.
3) Make sure you have access to a tool which will give you information on which currency pairs are being trading successfully and the aggregate structure of these deals.
4) Make sure you receive SMS alerts so as to keep minute by the minute tabs on any important fluctuations.
5) Make sure you receive daily reports to assess each days progress.
6) Make sure you are advised of signals on all majors, golds and oil.
7) Make sure you have a good affiliation with your personal dealer.
8) Ensure that you receive higher leverages than normal Fx online trading platforms.
9) Request custom made technical reports tailored to your style.
If you are fortunate to have access to all of the above 9 trading tools then this is the fundamental key to being successful at Fx online trading.
In fact there is one Forex company offering these courses for "free" during the credit crunch, plus they are giving away $100 to anyone who registers.
That means, if you sign up for free now, not only are they offering you the following three "Live" One hour Webinars' for free:
1) Learn to trade the FOREX markets with live trading exercises
2) Forex Trading 101
3) Introduction to Technical Analysis
But - they will GIVE you $100 to start trading forex currency pairs on their platform - no string attached. Period.
Click here to activate your account and begin your training now
Article Source: http://EzineArticles.com/?expert=Rob_R_Carmichael
Thursday, June 4, 2009
FX Online Trading Software - Is it Necessary?
Forex or FX online trading software systems include the currency exchange robots or automated forex systems that allow your trading to go ahead on autopilot from your own computer, 24 hours a day. Just about everyone who is trading from home owns one if not more. But do you really need them? What is their purpose?
A robot can do many things that you cannot, in addition to staying online and alert for 24 hours a day. The currency markets, being international, do not sleep from the time they open on Monday morning through to Friday afternoon, so that is important. With software, provided of course that you have the necessary high speed internet connection, you can be active in the markets both day and night, without ever missing a trade that fits your criteria.
Brokers also have forex software which forms a platform on which you handle the trading on your account. This is different from your own robot which runs on an independent platform, often Metatrader 4. This will interact with your brokerage trading platform from a distance.
Some people are nervous about entrusting their trades to a computer program. Indeed it is wise to be cautious when you are starting out. You need to be sure you have understood all of the settings and that the robot will do exactly what you intend. They are very literal minded and everything must be very clear. However, this is not an issue because you will almost certainly be able to use the software in demo mode to test everything out.
Remember that you are always in control of the software. You manage the settings which allow it to run on autopilot, carrying out your wishes in every detail. So once you are sure that everything is in order, your system is profitable and all of your stops are in place, you should have nothing to worry about.
Most FX online trading software will give you the latest currency exchange rates plus historical trends and market analysis. The current exchange rates and charts from the last few minutes or hours are what you will base most of your trades on, but the historical information can be useful too.
You will soon become adept at interpreting trends and patterns. Then you will use all of this data to help you make more profitable trades. Refining your settings can make a big difference to your bottom line. In other words, this is one more way that FX online trading software can help you to make money from forex trading.
Want to make money with forex trading? You will need an fx online trading robot: automated forex trading software that makes the trades for you. FAP Turbo is probably the best forex robot you can get. Read a FREE in depth FAP Turbo review here.
Jason Cline writes on automated forex trading systems and the forex market for several websites. Check out his blog at http://foreignexchangetraining.blogspot.com
Article Source: http://EzineArticles.com/?expert=Jason_Cline
A robot can do many things that you cannot, in addition to staying online and alert for 24 hours a day. The currency markets, being international, do not sleep from the time they open on Monday morning through to Friday afternoon, so that is important. With software, provided of course that you have the necessary high speed internet connection, you can be active in the markets both day and night, without ever missing a trade that fits your criteria.
Brokers also have forex software which forms a platform on which you handle the trading on your account. This is different from your own robot which runs on an independent platform, often Metatrader 4. This will interact with your brokerage trading platform from a distance.
Some people are nervous about entrusting their trades to a computer program. Indeed it is wise to be cautious when you are starting out. You need to be sure you have understood all of the settings and that the robot will do exactly what you intend. They are very literal minded and everything must be very clear. However, this is not an issue because you will almost certainly be able to use the software in demo mode to test everything out.
Remember that you are always in control of the software. You manage the settings which allow it to run on autopilot, carrying out your wishes in every detail. So once you are sure that everything is in order, your system is profitable and all of your stops are in place, you should have nothing to worry about.
Most FX online trading software will give you the latest currency exchange rates plus historical trends and market analysis. The current exchange rates and charts from the last few minutes or hours are what you will base most of your trades on, but the historical information can be useful too.
You will soon become adept at interpreting trends and patterns. Then you will use all of this data to help you make more profitable trades. Refining your settings can make a big difference to your bottom line. In other words, this is one more way that FX online trading software can help you to make money from forex trading.
Want to make money with forex trading? You will need an fx online trading robot: automated forex trading software that makes the trades for you. FAP Turbo is probably the best forex robot you can get. Read a FREE in depth FAP Turbo review here.
Jason Cline writes on automated forex trading systems and the forex market for several websites. Check out his blog at http://foreignexchangetraining.blogspot.com
Article Source: http://EzineArticles.com/?expert=Jason_Cline
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