Forex Trading - FAQ

May Day and Golden Week

Sat, 29 Apr 2006 08:26:56 -0700

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The first week of May may probably present a lethargic market with Japan and China going on holiday mode to the week they call "Golden Week". Golden week is a holiday in both Japan and China - Japanese financial markets are closed for trade from May 3 to May 5. While in May day (aka Labor day) (1st of May) is celebrated by the USA and UK and other countries.

In Japan, Golden Week refers to the period between April 29th and May 5th when many Japanese take time off work and travel. Initiated to celebrate the birth of Japanese emperor Showa, the series of holidays has been celebrated since 1948. It is called Golden Week because of the strong impact on domestic consumption.

China celebrates three Golden Weeks each year, the next beginning on May 1st and called Labor Day Golden Week. These holidays are intended to increase domestic consumption, an ongoing aim in China these days.

May Day is a name for various holidays celebrated on May 1 (or in the beginning of May), ranging from pagan festivals to International Workers' Day, its most famous action.

Forex - which is the best news site for a fundamental trader?

Wed, 12 Apr 2006 04:55:27 -0700

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Forex - which is the best news site for a fundamental trader?

This is a type of question where you should make your own mind up. The thing is whatever you do, you the retail investor will always be lagging in the speed of the news you receive. In the forex markets,, news travels fast and hence can make the markets very volatile. Fundamental and technical analysis are trying to solve the main problem of : WHAT THE MARKET IS GOING TO DO, FORECASTING PRICES, WHAT THE DIRECTION OF THE MARKET? Be aware that fundamental analysis study the CAUSES OF MARKET MOVEMENT while technical analysis study THE EFFECT.

Be sure that in a graph, everything is already discounted according the theory of CAPITAL ASSET PRICING MODEL, WILLIAM F. SHARPE, NOBEL PRICE OF ECONOMY. Stated in another way, prices tend to lead THE KNOWN FUNDAMENTALS. In other words, the news is inbuilt into the chart. For further readings in technical analysis, see these books by authors, leaders in that field ( John J. Murphy, Martin Pring, Steve Nison, Edwards and Magee, and many others...).

Be careful trading any financial markets, There is huge risk and losses pertaining to forex trading. Be very prepared at what the forex markets can throw at you. Do not pay attention to those who are claiming that you can make a lot of money with their systems. Be wary of them.

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How the retail forex brokers operate and what they do with the client money?

Sun, 02 Apr 2006 05:57:42 -0700

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How the retail forex brokers operate and what they do with the client money?

They hedge themselves on the "real" FX markets - by actually trading the amount of money you dealt with in your trade. As most internet FX trading is all geared, most of the reputable FX dealers are associated or partnered with a back or investment bank that guarantees those "loans" in your leveraged trade.

They keep client money in a trust account, if you are profit and you close out your position, you get paid your profit and your capital returned. If you realise a loss, you pay out the loss out of your capital and more if you aren't protected.

Some brokers trade "naked" but I'd rather stay away from those kinds. That is without hedging their position in the market or by executing the position that their client takes in the market.

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What is the best FOREX course out there? (No B.S.!)?

Sun, 02 Apr 2006 05:54:25 -0700

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What is the best FOREX course out there? (No B.S.!)?

The best forex course out there is no course at all! I came to forex knowing how to read charts from trading stocks. All I had to do was read the material that the forex dealer gave to me on the basic rules of forex, and I applied all the other technical charting stuff I knew before and easy as that I was pulling a good income from forex.

Mind you, you will need to have a trading plan with planned exits to take profits and cut losses.

In short the best forex course is none at all! I learnt forex trading from learning a lot about the basic technical indicators, candlesticks, experience and finally from simple forex articles.

Forex Information

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Please tell me which site gives real-time data of world economic news announcement? e.g GDP, CPI?

Sun, 02 Apr 2006 05:51:34 -0700

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Please tell me which site gives real-time data of world economic news announcement? e.g GDP, CPI?

the spot forex is news driven,which site gives instant world economic news releases? Like unemployment rate, CPI, interest rate, GDP news releases

news.google.com should do it since they aggregate all their news sources.

BUT if you really want to know... you need a reuters box or a bloomberg box - just like what the professionals use.

Has anyone done business with Brian C. Ault, at Forex trading systems?

Sun, 02 Apr 2006 05:51:05 -0700

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Has anyone done business with Brian C. Ault, at Forex trading systems?

I am wanting to trade the forex currency market, but do not want to ge ripped off either. I am wondering if this offer is something that a person can honestly make money with , or is it a scam?

I didn't know who Brian C. Ault was so I did a search... Plenty of sales hype there...

Look, there are some frauds out there so definitely read the primer below.

Trading is a professional business. Forex can be learnt many ways, you can learn it from a book, from trial and error, from a mentor or from one of these programs.

Sometimes these "educational" systems works, sometimes it's a scam.

The way I look at it is this. A lot of these people are in it for the money. They are feeding people's greed.

I find that knowing how to trade generally across many markets - stock markets, local and overseas using various leverage tools has allowed me to also trade the forex markets. Once you can read charts, and know the business of trading, the skillset it easily transferable.

Good Luck.

Forex: Beware of Frauds

Has any one done business with Peter Bain, at Forex Trading Secrets?

Sun, 02 Apr 2006 05:47:25 -0700

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Has any one done business with Peter Bain, at Forex Trading Secrets?

I am wanting to trade the forex currency market, but do not wish to get ripped off either. I am wondering if this system works or is it a scam?

I didn't know who Peter Bain was so I did a search... Plenty of sales hype there...

Look, there are some frauds out there so definitely read the primer below.

Trading is a professional business. Forex can be learnt many ways, you can learn it from a book, from trial and error, from a mentor or from one of these programs.

Sometimes these "educational" systems works, sometimes it's a scam.

The way I look at it is this. A lot of these people are in it for the money. They are feeding people's greed.

Good Luck.
Forex: Beware of Frauds

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Is investing in the Forex market another scam?

Sun, 02 Apr 2006 05:46:10 -0700

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Is investing in the Forex market another scam?

Read this article carefully...

Forex is not a scam. Its like the stock market only forex is currency. It simply offers traders another market to make money from. If you know how to trade other markets, you can also trade forex - although forex moves much faster. If you are talking about software that tells you when to buy or sell curreny, that is a scam.Its like the stock market only forex is currency.

Also, I wouldn't call forex an "investment". Investments are long term - and movements in forex are rapid at times - sometimes moves that take seconds can wipe your account.

The currency exchange market is a very necessary part of the U.S. economy, without it international trade could not be done using currency they would have to barter, exchange goods for goods, which in nearly impossible.

If you want to trade Forex it can be very profitable but very risky, many ways to limit risk one is to invest money in say short term foreigh investments but engague in forwads to guarantee an even higher return by locking in a forward greator than spot.

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Can anybody suggest a uk based online forex company which does not charge much?

Sun, 02 Apr 2006 05:37:39 -0700

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Can anybody suggest a uk based online forex company which does not charge much?

Have a look at www.forextradinghq.com - they may refer you to one.

Forex companies don't "charge" as such - they have a spread across the currency pair.

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Free Forex Recommendations?

Fri, 31 Mar 2006 02:02:49 -0800

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Free Forex Recommendations?

I have completed a online Forex Course from reputed organization in USA.

I want someone to tell me where to find site that gives u free trades e.g buy this at that level and sell at that level.

I don"t want you to list any site that gives intro to Forex .

Thanks in advance.

My preferred currency pair is the AUD/USD: no other reason for picking this currency pair other than that I live in Australia so I'm exposed to news around me that is more relevant to the Aussie Dollar.

In my website, http://www.forextradinghq.com/ I don't give direct recommendations - I prefer the reader to make their own final decision, so they alone are responsible for the trade.

For example, The Aussie just fell 4 cents over the past month. Any old trader could have come by and read a few posts and could have concluded that the Aussie in down in the dumps due to the interest rate differential between the US and Australia decreasing (amongst other reasons).

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Has anyone ever heard of forex enterprises?

Fri, 31 Mar 2006 02:01:45 -0800

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Has anyone ever heard of forex enterprises?

Are you talking about those clubs where the members put in seed capital and someone trades the money in the forex markets and then splits the profit with the members?

Sometimes they are classified as HYIP programs... they are basically high risk high return programs. Not worth the effort unless you are one of the very first who enters in the pyramid.

If you want to trade forex properly, or have exposure to it, I suggest you do it yourself and learn it properly or simply stay away from the risky forex markets.

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FOREX-- Who has system for buying and selling in the Forex market?

Fri, 31 Mar 2006 02:00:47 -0800

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FOREX-- Who has a system for buying and selling in the Forex market?

You can certainly make money from forex. But you can also lose your hat too.

You will need a trading system that you are comfortable with to trade this extremely liquid markets. Most traders tend to formulate their own forex systems and I recommend you do too. Don't take the lazy way out and borrow another person's system. You won't learn anything.

If your new, start small. Learn from your mistakes. There are plenty of losers out there and I hope you don't become one of them.

Good Luck.

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Excel forex book keeping?

Fri, 31 Mar 2006 02:00:30 -0800

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Excel forex book keeping?

to maintain my trading day to day trading

Yes of course you can use Excel for your book keeping needs.

I do too.

Simply organise the information from each of your trades into column headers:
Currency Pair, Entry Price, Long/Short, Exit Price, Profit (pips), $ Profit etc...

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What does the word "forex" mean?

Fri, 31 Mar 2006 01:59:22 -0800

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what does the word "forex" mean?

Is Forex some sort of business term?

Forex is short for FOReign EXchange.

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where do i get free historical forex data?

Fri, 31 Mar 2006 01:57:41 -0800

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where do i get free historical forex data?

Well, you can get free historical forex data from your forex dealer who should provide you with a free charting package.

Or from financial news websites.

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