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Learn all about the basics of Forex Trading. The eBook is for beginners. The digital book about forex trading goes through more basics to forex trading.

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FOREX-US dollar slides to fresh 2009 low vs euro‎- 41 minutes ago
Higher-yielding and commodity-linked currencies such as the Australian and New Zealand dollars gained against the US dollar, benefiting from the equity ...

SigmaForex Provide Traders With Premium Forex Trading Tools that are useful for Advanced, Professional And Beginner Traders. Technical and Fundamental Analysts are working in developing these tools to meet our clients with highest levels of satisfaction.

One of the primary elements when it comes to trading forex currencies is that it necessitates trading in pairs of currencies like EUR/USD in which Euro trades over the US dollars. This is a characteristic pattern of forex currency pairs.

In the instance of the Euro which is the initial currency it is recognized as the base currency whereas the second currency or the dollar is regarded as the counter or quote currency. What it actually means is in case of these two forex currency pairs, if you want to purchase the currency pair, then you have to buy the Euro currency and sell US dollars at the same time.

Forex charts assist the investor by providing a visual representation of exchange rate fluctuations. Many variables affect

Due to restricted time and Internet connection that I have now, I have opted to trading using the daily charts.

Its not as aggressive and thrilling as trading on the shorter time frame but the result is about the same minus the headache. I'm beginning to like daily trading. I need to make decision once in a while and the rest of the time I just hold my position.

On a daily chart, the candlestick is much easier to read and pattern is much clearer. On 13th August I opened 3 position. 2 of which is still holding while 1 has been closed. At the moment all position are in profit.

Daily trading is not for everyone. It took me sometime to adjust on the requirements of daily trading, but once you are there you never look back.

Till next time, good luck everyone

A lot of interest has been generated recently in FOREX trading, hailed by some as the great new investment opportunity. There are even companies running TV infomercials, offering sure fire systems that will bring massive profits in an easy fashion.

So what is forex? Is it something new? The exchange of currencies is said by some to be the world's second oldest profession and as long as there have been two sovereign states that have issued their own currencies, there has been foreign exchange as a facilitator for trade.

Forex, as foreign exchange has been abbreviated to, has been conducted for centuries and has become a global market with a daily turnover according to a recent Bank for International Settlements survey of $1.9 trillion (billion, billion) per day. Essentially it is a global market place with no physical exchange building where all claims on foreign currencies are settled - between governments, corporations, investors and speculators among others. Banks have traditionally been the middlemen who provide the liquidity to this gigantic market, which incidentally is traded on an almost continuous 24-hour basis.

Then came the Internet and suddenly it became possible for everyone to get a piece of the speculative action. Brokers sprouted up with their electronic trading platforms and high 'leverage'. Essentially the brokers lend clients funds to speculate with, 100:1 or in some cases up to 400:1 ratio, or leverage. This means that $10,000 can 'control' up to $4,000,000 in the market. This is far higher than is possible in the stock market.

Many people have been attracted to the possibilities of earning fast profits from forex. There are often sharp movements that can turn your $10,000 to $20,000 in a matter of minutes. You can also get wiped out, but the lure of a fast buck has turned would-be speculators into out-and-out gamblers.
The Internet has also made it possible for the individual to obtain so-called 'charts', that allow them to do 'technical analysis' on their own PCs. The theory is that price movement patterns repeat themselves, so if you have a system of analysis, you can predict a future move in the market.

This may well be the case, but it does not address the problems of the psychology of trading - the fear and greed that drives many to irrational behaviour. People are often taken in by the seller of a system, often paying $5,000 for a piece of software that shows a green light to buy and a red light to sell. However, they don't tell you how to manage your money.

So speculators lose. It has been estimated that 90% of new investors in forex lose their capital in the first year - an appalling figure. What can one do to avoid being a victim? Well, forex is a business like any other business and planning is required. It is also a profession and as such, adequate training is necessary so that you understand fully what forex trading is all about.

What is forex? FOREX or Foreign Exchange market is the world largest financial market, where currency of one country is exchanged with another country through currency exchange rate system. Trader’s purpose is to get the profit as the result of foreign currencies purchase and sale. From latest assessment, Forex trading daily constitution is approximately average from 1.5 trillion to 2.5 trillion. . The free-floating of currencies being in the market turnover are determined by the supply and demand. The currency rate is actually run through telecommunication all over the network of banks 24 hours a day from 00:00 GMT on Monday to 10:00 pm GMT on Friday. Importance of human society event in the sphere of economy strongly influences the currency market. Traders gain the profit from the fluctuations in accordance with an agreed principle “buy cheaper- sell higher” or “sell higher-buy cheaper”. Forex is a continuously changing number financial system which exclusively create high trade turnover to all individual and corporative traders with an ensured liquidity of traded currencies. Due to the high potential profitability, therefore the higher risk should be essentially considered.

Today’s Forex market began to develop in 1973; however, foreign currency trading has beenaround since Pharaonic Egypt's advent of coinage, and the ancient Babylonian's usage of papermoney. More relevant to today’s market however, are the post World War II alterations to theinternational exchange rate. World War II left the United States an industrial giant unscathed by thewar, at least in comparison to the European powers. Worldwide confidence in the dollar made it thereserve currency of choice. To prevent a recurrence of the global depression, the Bretton WoodsSystem, ratified by all the major capitalist countries, pegged international currencies to the dollar,which had its value, in turn, fixed in gold. This led to a system of fixed exchange rates, and thedollar's role as de facto reserve currency was formalized.This arrangement lasted for the next three decades.In the early seventies, however, deterioratingconfidence in the strength of the dollar led to market-driven currency values, and a new system offloating exchange rates took hold. The modern Forex market arose from this new arrangement.

Price fields: Technical traders base actions on price and volume analysis.The fields, which define asecurity's price and volume, are explained below.Open: The price of the first trade during the period.Close: The last price that the security traded during the period.High: The highest price that the security traded during the period.Low: The lowest price a security traded during the period.Volume: The number of shares (or contracts) traded during the period.Line chart: A line chart plots single prices for a select period.The daily chart, for instance, generallyillustrates the daily closing prices.The obvious problem with the daily chart is its inability to showintra-daily price activity.

Governments and BanksBusiness FirmsBanks and Financial InstitutionsHedge FundsRetail Forex BrokersThere are numerous online forex trading platforms where you can register and start off with your trading almost immediately after opening an account with them.But, as the availability of the platforms is very high, you have to be cautious while you select the one that meets your Forex trading can be a great source of income for people who are comfortable with the foreign exchange market and know how to make the most of currency movements.However, one must remember that forex trading involves substantial risk, especially if the trader is heavily leveraged.It is up to the trader to ensure that he chooses an appropriate trading platform and exercises adequate caution while trading.

Forex trading can be an excellent source of supplementary income for people who understand the market and are comfortable with forex trading platforms.Foreign exchange market or Forex is the market for buying and selling currencies.Foreign exchange was created not by any special and exclusive design but it started off because bankers, exporters, importers, investors and brokers discovered that there was ample opportunity available for traders in this market.Long back in the early 1970s people saw tremendous trading opportunity when the exchange rate of the US dollar was pegged against the price of gold. That was the beginning of the forex trade and now it is a huge and a vast trading platform having turnover in trillions of dollars.

Traders have no business trading if risk/reward analysis is not at the top of their concerns.If a trader has no idea of the potential profit return on any given trade relative to the initial risk of taking the trade at all, his long-term profitability is in question.Of course, for every trader, the best case scenario would be to minimize the first and maximize the second.But how do you get a handle on the potential reward in any investment and the risk you might be taking on?Technical analysis – what’s popularly called charting – can help traders evaluate both risk and reward.The technical indicators used to read the charts will give you the simplest kind of picture you can get of a currency’s performance.Simply by placing your support and resistance and by looking at the past performance of a currency you can get a record of its closing price over time.Once all of the elements are in place for an analysis, you can calculate your pips difference and verify, depending on the trend of the market, if you will make more profit or loss and if it is after all worth the position.For example, if the market is in a bullish situation, you need to have a higher pips difference between your buy-stop order and your resistance price than between your support price and your buy-stop order so that your reward will be maximize and your risk will be minimize.

They use forex trading robots to automate their trading strategies.Forex robots are nothing more than software that attaches to your existing trading account. You pre-set your forex robot with the particular market conditions you want to see in order to make a profit and then you go and do something else. Your forex robot will place the trade for you through your account once the spread on your particular currency pair has met with your criteria.Knowing that you have the freedom to set your entire trading strategy on autopilot means that your forex robot will place your trades to buy and sell based only when the numbers are right.The forex market is extremely volatile. The value of one currency can change drastically in a day. This kind of market movement can sometimes be enough to send traders into a panic if the market is trending down and can trigger emotions of greed when it's trending up.A robot isn't going to be affected or swept away by the emotion of seeing your money rising and falling in just seconds. It will only invest your money when the conditions are correct.Another great benefit of many forex robots available on the market is that you can set it to watch several different currency pairs at the same time. Many traders who try to trade using their own judgment and research often don't have time to research currencies from other parts of the world - but a forex robot has all the time you need.So if you'd like to set your forex trading strategy on autopilot and know that you can still profit and keep track of the market movements even when you're away from your computer, then perhaps look into the great benefits forex robots can offer you.