Introduction to Forex Trading

Forex refers to the foreign exchange market, where brokerage firms and banks are connected over an electronic network that allows them to convert the currencies of countries around the globe.

The forex market is the largest and most liquid financial market in the world. The daily dollar volume of currencies traded in the currency market exceeds $1.9 trillion, many times larger than the combined volume of all U.S. equities and futures markets.

While forex trading used to be executed exclusively between government central banks and commercial and investment banks, trading forex has become increasingly accessible to private investors thanks to the PC and internet.

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ForexGen provides a unique online trading experience based on our intelligent online Forex trading package, the ForexGen Trading Station, including the best online trading syste

Is Forex Trading Right For You

FOREX is the abbreviated termed used to describe the world's largest foreign currency exchange market where of 1.5 Trillion dollars is traded on a daily basis. This more than 100 times the trading volume that occurs on the NYSE, and is fast becoming the hot spot for individual investors. A market that was once only accessible to large corporations and government entities is now available to individual investors with online trading accounts. Despite the hype and excitement around this market, is it right for you?

ACCESSIBILITY. Unlike most investment markets that open and close with the ring of a bell, the FOREX market is open 24 hours a day, six days a week. Trades can be made anytime the market is open from your home computer through the major trading centers located Sydney, Tokyo, London, Frankfurt and New York. Because of this you can act instantly upon news that may affect the market.

LIQUIDITY. Because of the high volumes that are being traded in this worldwide marketplace, there will always be a buyer or seller available for your trade. The trades occur in the "spot" market so your position closes immediately, avoiding the risks sudden market swings. The liquidity also helps insure price stability and lower spreads.
VOLATILITY. The FOREX market is always moving. Because of the liquidity of the market, you can make money when the market is moving up, down or even sideways. Volatility in other markets is oftentimes equated to risk or loss, but in the FOREX market volatility equates to profit potential.

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How To Get Started In FOREX Trading

The foreign exchange market (FOREX) offers many advantages to investors. But you need to know where to begin. This short guide will give you the FOREX basics, so you can quickly start participating in this fast growing market.

In the past, foreign exchange trading was limited to large players such as national banks and multi-national corporations. In the 1980’s the rules were changed to allow smaller investors to participate using margin accounts. Margin accounts are the reason why FOREX trading has become so popular. With a 100:1 margin account, you can control $100,000 with a $1,000 investment.
A Learning Curve
FOREX is not simple, though, so you’ll need some knowledge to make wise investment decisions. Although it is relatively easy to start trading on the FOREX, there are risks involved. Your first move as a beginner should be to find out as much as possible about the forex market before risking a dime.

Find A Forex Broker
FOREX traders usually require a broker to handle transactions. Most brokers are reputable and are associated with large financial institutions such as banks. A reputable broker will be registered as a Futures Commission Merchant (FCM) with the Commodity Futures Trading Commission (CFTC) as protection against fraud and abusive trade practices.

Open an Account with a forex borker
Opening a FOREX account is as simple as filling out a form and providing the necessary identification. The form includes a margin agreement which states that the broker may interfere with any trade deemed to be too risky. This is to protect the interests of the broker, since most trades are done using the broker’s money.

Once your account has been established, you can fund it and begin trading.
Many brokers offer a variety of accounts to suit the needs of individual investors. Mini accounts allow you to get involved in FOREX trading for as little as $250. Standard accounts may have a minimum deposit of $1000 to $2500, depending on the broker. The amount of leverage (how much borrowed money you can use) varies with account type. High leverage accounts give you more money to trade for a given investment.
Trades are commission-free, meaning that you can make many trades in one day without worrying about incurring high brokerage fees. Brokers make their money on the ’spread’: the difference between bid and ask prices.

Paper Trading Forex Market
Beginning traders are strongly advised get accustomed to FOREX by doing "paper trades" for a period of time. Paper trades are practice transactions that don’t involve real capital. They allow you to see how the system works while learning how to use the various software tools provided by most FOREX brokers.
Most online brokers have demo accounts that allow you to make free paper trades for up to 30 days. Every new FOREX investor should use these demo accounts at least until they are consistently showing profits.

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The Forex Market Trading May Make You Lose

With your own ways in the forex trading, you will have the profit when you have the working edge over others. Real information is what is needed by the trader so that he will be able make use of them in his decisions. You will need more information to decide and predict how the market would go for the day.

The forex market trading may make you lose during some time but you have to study what you have done wrong so that in the next trade, you will be more knowledgeable and you will know how to deal with the situation. This is how you will gain your experience and you will have the necessary things that are needed in your business.

A trader may have a choice to read books about forex trading market, others rely on the Internet articles and e-books but even if the authors are well versed in the business, you cannot simply do what they have done unless you have a good grasp of the way that the market really works. You need to have the right experience so that you will know what to do and how to predict good to earn the right amount of profit.

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ForexGen Partnership

ForexGen offers three types of business partnerships.

* [Introducing Broker]
* [White Label]
* [Money Manager]

ForexGen Introducing Brokers ,White Label and Money Manager holders are recognized as a strategic business partners. The main focus of our service is to satisfy our partner's needs in order to deal with a qualified service and gain a large income sharing plan.

[ForexGen] provides appropriate services satisfying the needs of all business partner's specified situation and requirements.

Profits with the Right Forex Trading Systems:

Forex offer currencies exchange

From one person to another with a certain price. When investing in Forex, the game is about gaining profit through selling of currencies at higher price and buying currency at a lower price thus earning profit. So far, there are many investors involved in Forex trading as Forex has one of the biggest financial markets worldwide. With the availability of the internet, Forex has gained so much popularity as it provides accessibility to many investors in the convenience of time and place.

Most investors planning to be involved in Forex trading is more involved in Forex Online trading.

One of the advantages is Forex offer that you can access to it anytime and anywhere. This is made possible through Forex Online trading. As long as you have a laptop and have internet connection, you can do Forex online trading. This can be very beneficial especially that Forex trading does not have a day’s closure. You can access to the market at 24 hours a day – no pause, no offs.

There are many sites that forex offer Forex Trading systems. They usually provide valuable tools to be profitable in Forex trading. Supposed to be, the system will guide you for profitability in Forex trading, but most of the time, it doesn’t guarantee an overtime profit. There is a lot of decision making on your part to get the right results in Forex trading. As the common adage says, “Try and try until you succeed.” This is even true in using any Forex Trading Systems.

Forex Trading Systems have entry set-ups and indicators for pricing which you can accept or forex offer to get profit. There are no limits in the systems that you can use for profitability. As much as possible, you need to have basically as many Forex Trading Systems so that you can take advantage of the tools forex offered in every Trading Systems available. The strategies and tools are generally available to help you make the right decision or make necessary entries and exits. So all combined strategies may help you make the right decisions. This is even true especially if you are a beginner in Forex trading. However, there is no guarantee of immediate results. Being profitable in Forex online trading takes the right Forex Trading systems, perseverance, mastery of the right strategies, and constant work.

You can start getting the system of Smart Forex Live for your Forex Trading systems. Forex offer a lot of Forex Trading products. The latest of which is the Forex killer, a Forex Trading system that provides tools for beginners to make it to the world of Forex traders. There are many more Foreign Trading systems but you can try this out first. All you need to do is make the right entries and analysis to get the right price.

Forex Trading Companies:

What Exactly Is Forex?

The word Forex is actually a slang term for "foreign exchange" trading. What Forex traders do is to leverage the exchange rate differences of money that is used throughout the world to make a profit through trading foreign currency. What Forex trading companies do is hire brokers who end up making trades for investors.

Forex For Beginners

If you are a new person to the arena of Forex trading, forex offer to search several elements in a company that does trading that will assist you in acquiring Forex trading experience while not end up losing too much money in the process.

Training Account For Free

for those that are beginners in Forex, you should attempt to locate a Forex trading company that forex offer you to trading of foreign currency without cost. This is accomplished in many places as a 'game account'. They let you play with 'virtual money' for a trial period of training.

Forex Education for Free

it is a good idea to take advantage of the Forex education available for frees that forex offer. Numerous trading companies make available seminars that are online to present to new investors ways in navigating the Forex trading system.

Course for a Fee

forex offer for learning the Forex trading environment is to spend a fee for these courses. The benefit of these types of courses is that you take away an individualized strategy for your Forex trading account.

Recommendations

Based on some criteria such as free training accounts as well as free educational Forex offerings, you might want to do your research and due diligence into some of these; Signals-Forex, CMC Markets, Forex Systems, GFT Forex, FXSolutions, and Pro-Forex. You assume full responsibility in your choice of course.

Daily Forex Technical Report − RBA Cuts 100bps, Yen Consolidates

Action Insight Daily Report

RBA Cuts 100bps, Yen Consolidates

RBA has the deepest rate cut since 1991, cut by 100bps, bringing the OCR down to six year low of 4.25%. Though, Aussie is supported by some speculations that RBA's easing cycle is close to an end, if not over and pares some of yesterday's losses. High yielders also take a breath as the Japanese yen retreats mildly from yesterday's sharp gain. BoJ left overnight call rate unchanged at 0.30% in an unscheduled meeting today and announced money market operation measures to facilitate corporate financing. Nevertheless, overall sentiments remains fragile and another round of yen rally is still expected as the day goes. Dollar index remains firm at around 87 level and rebound from 84.78 is still in favor to extend to retest 88.46 high. Crude oil dives to new low of 47.58 and remains pressured on worry of global recession.

While the rate cut is larger than "consensus" expectation of 75bps, RBA statement said that monetary policy is now in an "expansionary setting". RBA also noted that "together with the spending measures announced by the government, and a large fall in the Australian dollar exchange rate, significant policy stimulus will be supporting demand over the year ahead." Some economists argue that this part of the statement suggests RBA is near to the end of the easing cycle, if not over. Considering that RBA will not meet again until Feb, it's clear that the bank is adopting a wait and see attitude for the effects of prior cumulative 300bps cut as well as various other stimulus moves on the economy. Nevertheless, note that Stevens didn't shut the door for the further easing yet and the rate outlook will very much depends on the upcoming economic data as well as development in the financial markets. Exchange rate of Aussie would probably remain driven by risk aversion/appetite the picture is cleared.

Also released from Australia earlier today, Australian retail sales surprisingly rose 0.7% mom in November, big improvement from -1.1% in September and better than market expectation of -0.2%. In terms of components, food and other retailing rose 0.4% and 7.6% respectively while others such as clothing and household goods dropped. As most of the gain was brought by 'other retailing' which is volatile in nature, we do not treat the rise as representative. In fact, given the sluggish economic growth and restrained domestic spending, we expect retail sales to be under pressure for some time.

In addition Australia reported a seasonally adjusted current account deficit of A$ 9.736B in 3Q08, better than consensus of a deficit of A$11.1B. The figure for 2Q08 was revised to deficit of A$14.043B from A$12.77B. The current account deficit has been narrowed for the second consecutive quarter and was helped by increase in export of coal and iron ore, especially to China, as well as reduced consumer spending on imported goods such as autos. The situation is expected to persist in the coming quarter. The net income deficit narrowed to A$11.07B in seasonally adjusted terms, the smallest in 3 years while goods and services trade balance recorded a surplus of A$1.43B from a deficit of A$1.26B.

Overnight, National Bureau of Economic Research (NBER) said that the US economy has been in recession since Dec 07. The report from NBER said that "domestic production and employment are the primary conceptual measures of economic activity" and payroll employment "reached a peak in December 2007 and has declined every month since then." Fed Bernanke said the room to lower interests from form the current 1% level is "obviously limited" even though it's still feasible. Fed will dig deeper into the toolkits instead and economists said that this could be the start of a shift to "quantitative easing" that resembles what BoJ did in 2001-2006.

Looking ahead, sharp decline in energy prices since Jul is expected to be reflected in further moderation in inflation in Europe. Swiss CPI is expected to drop from 2.6% yoy to 1.9% yoy in Nov. Eurozone PPI is expected to drop from 7.9% yoy to 7.1% yoy. UK construction PMI is expected to deteriorate further from 35.1 to 33.5 in Nov, signaling deeper contraction in the construction sector.

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Choosing A Forex Broker:

With currency trading becoming ever more popular, the number of forex brokers competition is growing at a rapid rate. What should one look at when deciding which broker to open an account with? These are the important points to consider.

Spread

Because currencies, unlike futures and stocks, are not traded through a central exchange, the spread can be different depending on the forex broker you use, so it's well worth checking a few out before you open an account. Most forex brokers competition publish live or delayed prices on their websites so you can compare spreads, but check if the spread is fixed or variable. A fixed spread means exactly that — it will always be the same no matter what time of day or night it is. Some forex brokers competition use a variable spread, which might appear to be nice and small when the market is quiet, but when things get busy they can widen the spread which means the market must move more in your favor before you start to make a profit. Fixed spreads are generally slightly wider than the variable spreads are when at their narrowest, but over the long term fixed can be safer.

Execution

Some forex brokers competition will show live prices on their trading platform, but will they honor them when it comes to pushing the Buy or Sell button? The best way to find out is to open a demo account and give them a test drive. This will also give you the opportunity to see what the speed of execution is like — when you want to buy, you want to buy now, not sit around waiting for ten minutes whilst your order is confirmed!

Trading Platform

Good trading software will show live prices that you can actually trade at, not just indicative quotes. It will offer Limit and Stop orders, and ideally will let you attach these to your entry order. One-Cancels-Other orders are another useful feature — they mean you can set up your trade and then leave the software to get on with it. And the most important feature of all — can you actually understand the platform? Having all the bells and whistles is of no use if you can't use them, so again, get a demo account and give it a go.

Finally, before opening an account do a little homework and find out about the company. Forex broker's competition is regulated, but that doesn't mean they all have equal backing. If the market collapses, you want to know that they've got the reserves to cope with it and will still be around when you decide to withdraw your cash. If a broker is elusive when it comes to questions about their parentage and financial backing, then steer clear.