Forex Trading Software and How to Pick the Best Ones

By John Eather

If you're on the market to purchase forex software, selecting the right forex trading program is critical. With so many forex trading companies competing for your business, it can be difficult to choose the right forex trading program.

Nearly all of the forex software products out there provide you with platforms for real-time forex trading. So, you'll want to consider other factors that make one type of forex software rise above its competitors.

Before you purchase forex software, you will need to make sure that the software has certain important features. The most important feature is security, so online forex trading software should have 128 bit SSL encryption. This will ensure that hackers are blocked from accessing your important personal and financial data, like account balances and transaction history.

The niftiest forex software should also be supported by a company with around-the-clock technical support and maintenance in the event of a problem. Additionally, you will want to make sure that the software includes day by day backups of vital info, and a security system to forbid unauthorized account access.

In addition to these critical security procedures, some forex trading companies utilize smart cards and fingerprint scanners for their employees. This is an added security measure than ensures that only employees can access their servers.

Another important thing to consider when choosing forex software is to determine the average length and frequency of the company's downtime. You will want to make sure to choose an online forex trading company and forex software that is reliable and always accessible.

Finally, you'll want to ensure that the forex software you choose to facilitate your forex trading has technical support available in case a session is cut off. By making certain the forex software you choose incorporates all of the aforementioned features, you'll maximize your security and success in forex trading. - 23212

About the Author:

Before you start trading forex online, sign up for John Eather's fantastic ecourse and reports about Online Forex Trading. Receivethe most recent information about trading forex online. Go to MoneyMakingFxTrader.com to learn more.

Forex Trading Strategies - Sound Strategies Remain Useful for Decades

By Steve Maenshel

Forex trading strategies are one of the most crucial tools for determining when exactly to buy /sell currency. This most important and decisive moment is also the most difficult to define. Different Forex trading strategies, based on technical analysis, will help a trader to accurately determine the time of purchase / sale, thus providing maximum profits.

The decision often must be taken within a few minutes or hours, using various tools of technical analysis.

The most common Forex trading strategies are:

1. Using Support and Resistance levels

Forex trading strategies, based on the break of a resistance, often give a great signal to buy. Buy and protect your position by the stop-loss order, which should be placed below the level of the occurred break (break level now turns to a new level of support). A new position can also be opened, if in the downward trend the price went up to the line of resistance, or if at the time of a rising trend the price fell to support.

2. Intersection of the trend lines

Looking for the price to cross the trend line is yet another one of common Forex trading strategies. Prices crossing the lines of the trend allow a trader to enter the market or to exit the market early enough, especially when the crossing has occurred on a "proven" trend-line. However, do not forget the other indicators of technical analysis. When using the trend line as the level of Support and Resistance, long positions (Buy) should be opened on the fall of prices to the level of an upward trend, and short positions (Sell) should be opened with the rise in prices to the level of a descending trend-line.

3. Trading in the break

Three Forex trading strategies for trade at the time of breaks:

- Open a position in advance, in the anticipation of a break;

- If you see an unfolding break, open your position at the time of its occurrence;

- Wait until the rollback, which is almost inevitable after a break.

There is also a 4th option for Forex trading strategies based on break - open position in each of the phases described above. One position - before a possible break, second position - immediately after this break and the third position should be traded in the hope of the expected price correction, which is likely to happen.

4. Choosing a suitable time frame

1). Long-term holding of open positions ranging from a few days to several months, these types of positions are maximally effective in the emerging trends and the least effective at the time of flat trends. When working on long-term positions, fundamental analysis is just as important as technical analysis. This is one of the moderately safe Forex trading strategies.

2). Forex trading strategies, based on medium-long positions, i.e., few days. Also analyze short-term scales. Such positions are likely the most stable for profit, but their analysis is a bit trickier. Look, as usual, for the best time for the opening / closing positions. Again, use in addition to technical analysis also the fundamental analysis, which is perfectly suited for longer timescales.

3). Forex trading strategies, based on short positions, i.e., ranging from several minutes to several hours. Fundamental analysis is in fact useless in this case, so you can fully concentrate on the technical analysis. The price will not change unexpectedly at your absence, because you'll be constantly following it. However, risk of losses is very high, making short-term positions more suited to professional traders, and not for beginners. Another drawback is that you'll have to have focus on the prices throughout the whole day. Try to also use the volume indicators, which will help more accurately determine the direction of the market. Also, this type of position is good for trade in breaks, and rollbacks. Generally, these positions are not very suitable for the novice trader; a novice trader is better to stay with medium-term trends.

Forex trading strategies based on technical analysis indicators will help you achieve the best results. Forex trading strategies are especially useful for choosing the right time to enter and exit the trades. - 23212

About the Author:

Author Steve Maenshel has been a professional trader for ten years. He can help you understand forex trading strategies. Fore detailed forex market information, visit his forex resource center.

How to Choose the Right Dealer? (Part I)

By Ahmad Hassam

Almost 90% of the traders in currency markets are speculators. Most of the investors start forex day trading as a speculating venture to make capital gains. Once you have made the positive decision to start currency trading, you need to choose the right forex broker. The right choice will greatly influence the success of the whole enterprise.

These days, the market is overcrowded with companies and banks offering online brokerage services to individual traders and investors to access the currency markets. It is not easy to make the right choice without a certain set of criteria. These criteria will mostly depend on the interests, preferences and means of each individual trader depending on his/her trading strategies and tactics.

You may ask, what is the best way to choose the right broker? You should compose a list of questions to ask the forex broker before making a final decision. The following are some of the suggested questions that you should ask. You should ask these questions before making a final decision.

What is the amount of the interday and overnight margin? What is the corresponding leverage? Many online forex brokers offer margin between 2-5%. They provide leverage ranging from 20:1 to 100:1. Higher margin requirement means lower investment efficiency for you. Margin is the amount the broker sets aside as guarantee against your trading losses.

However, beware of lower margin. It means that most of the time the forex broker will be against you as a trader and will do everything possible to prevent you from winning. You will face many trading problems with such a broker. It will become difficult for you to work under such conditions.

What is the minimum contract size offered? Now days, the standard contract size is a $100,000 lot. This contract size is quite affordable. This contract size also allows small individual investors to participate in currency speculation. It allows for reasonably effective money management with limited capital.

What are the requirements of minimum deposit? The investment and financial means of traders differ. It is common that many new traders dont have sufficient funds to open an account. In my opinion, the optimal minimum amount is $10,000 with 2% margin requirement. I think $10,000 is the required minimum amount corresponding to the forex market conditions.

What are the terms of setting and executing stop and limit orders by the forex broker? The ideal condition should be the execution of the stop and limit orders at the fixed price. This should be regardless of the market conditions, its speed and its direction. Some forex brokers provide this type of execution. Other brokers reserve the right to fulfill an order with slippage under unsteady market conditions mostly defined by the broker themselves.

The amount of slippage depends on the current state of the currency market. It can vary from a few pips to tens of pips. It is practically impossible to arbitrate the prices received from the broker during a currency transaction. The slippage creates favorable conditions for the abuse of an individual trader by the forex broker. - 23212

About the Author:

Mr. Ahmad Hassam is a Harvard University Graduate. He is interested in day trading and swing trading stocks and currencies. Learn Forex Nitty Gritty. Develop your own Forex Trading System.

Pound Terribly Flawed According To Jim Rogers

By Jimmy Rogers

This has been a year in which Jim Rogers has caused much controversy in the United Kingdom when he said "the City of London is finished" and advised investors to "sell any sterling you might have." The comments prompted an open letter from two economists at The Royal Bank of Scotland, in which they criticized his "Armageddon-esque vision of Britain" and described Mr. Rogers' line of argument as "lacking rigour."

It wasnt too long ago Jim Rogers gave his thoughts on the state of the European economy and the British pound. Now, in an interview with Sky News, Jim Rogers reminds our British friends across the pond his gloomy outlook. These comments come a day after Standard and Poors revision of Britains AAA rating to a negative outlook.

Of course its going to come, its going to come in the US as well, Mr. Rogers told Skys Nina de Roy. UK is not alone in the latest commentary by Jim Rogers, the United States is also in deep trouble if you ask Mr. Rogers

Speaking to Reuters back in January, Jim Rogers had the following to say earlier in the year: "I suspect it's going to make new lows - it may take a decade," he told Reuters. "It's got near parity with the dollar before...why not again? There are two big holes developing in the UK's balance of payments -- North Sea oil drying up and the financial industry. I don't see anything replacing those two big holes."

This has been a year in which Jim Rogers has caused much controversy in the United Kingdom when he said "the City of London is finished" and advised investors to "sell any sterling you might have." The comments prompted an open letter from two economists at The Royal Bank of Scotland, in which they criticized his "Armageddon-esque vision of Britain" and described Mr. Rogers' line of argument as "lacking rigour."

Theyre pouring huge amounts of money into the economy which is going to make some things look better for some people for a while, but it wont last.

Crucially, Mr. Rogers believes the famous rating agencies are scared of revealing the dire state of American finances.

Jim Rogers said the pound could approach parity with the dollar in the coming years as the UK's national debt increases and the economy can no longer rely on the City of London's financial centre and North Sea oil supplies for a boost. - 23212

About the Author:

All Things Jim Rogers is a Jim Rogers Blog dedicated to tracking the latest Jim Rogers videos and interviews for the general public to enjoy.

Increase Your Knowledge And Become A Forex Trader

By John Eather

There are many ways of learning how to become a forex trader. Thousands if not millions of other people have managed to do this and become quite successful. Foreign exchange trading is a sound venture to become involved in. But as is the case with any new business venture, knowledge is key to success.

Training in this area of business is tantamount to success. Knowing how the market works means you have to have an awareness of its trends and foibles. As with any business venture, the use of a trainer is a sound practice with which to learn. Trainer's in this industry have made thousands of trades and deals and know what they are doing, however they may come at some considerable cost. Finding an educator who is willing to share his years of knowledge for no cost will be very difficult, unless they stand to gain something from the deal.

Training is able to provide newbies to this business with strategies and insights that they may never be able to uncover in self teaching. However this can be pricy! Any one will tell you that forex trading has its own psychology and you have to be aware of what factors come into play.

With knowledge comes the ability to read the market, see how it is moving and making profitable transactions. Without the correct information, you may succeed on a deal every now and then, but in the long terms will probably find yourself losing. Finding a professional to help you will mean you are receiving a proper currency trading education.

As with virtually every subject matter on this earth, there is ample forex training material available online. Websites which divulge information in this area of expertise, also have training courses available. If you believe you are not capable of self-teaching, then one of these courses would be a good option for you.

Your public library is another valuable source of information to learn about foreign exchange. This information is found in books on the subject matter which are generally well structured. Study courses for forex trading present all their material in a well structured, logical way which will provide a good understanding of this industry. - 23212

About the Author:

Be sure to check out John Eather's informative ecourse and reports about Online Forex Trading. Obtain the latest info concerning forex trading. Go to MoneyMakingFxTrader.com to learn more.