Forex Charting

In Forex Trading, when becoming a Forex trader you can definitely use great tools available to you, such as Forex charting. The charts produced by Forex analysis can give you great insight into different aspects of the market, including movements. By using charts in foreign exchange you can study the behavior of the market over a greater amount of time and analyze them and how they affect trading.

Forex charting is a method of providing financial data, in this case the performance of world currency, in the form of different types of charts called currency charts. Currency charts represent a single period in time: a minute, a month, a year, depending on how the charts are packaged.

The forex charts are generated by charting software, which go through historical as well as current data and generate the big picture for the trader. The trader can select the charting software based on his specific needs. Dailyfx offers free forex charts with live FXCM Quotes.

There are many people who are very interested in Online Forex Trading but fear that they may suffer some losses due to lack of experience or knowledge. If this is the case, you should open an online trading account with the appropriate forex charting software. This virtual account enables you to learn about currency trading and the market without investing money and without having to establish a commitment.

Every trader should have to be aware and keep these points in mind:
*Ensure that the charts are as up to the minute and accurate as they claim.
*The charts should give meaningful and significant information at a glance.
*The charts should integrate with the trading platform that the trader is using.
*The trader should be able to view more than one chart at a time to get the fullest possible picture of forex’s current behavior.

[Why ForexGen]


1. Lowest spreads in the market with 0-1 pip spread in 10 pairs, no commissions, no swaps and instant account Activation.
2. Scandinavian quality with Swiss precision, funds secured and local agents in 18+ countries.
3. ForexGen offers Forex trading in the major currency pairs and crosses.
4. Low capital start, with $250 as a minimum account size.
5. Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.
6. [ForexGen] offers a free trial Forex [demo account] that allows you to test your skills and practice without risking real money.

Calculating Profit and Loss

The foreign exchange market is an around-the-clock cash market where the currencies of nations are bought and sold. Forex trading is always done in currency pairs. To understand how the exchange rate can affect the value of your Forex investment, a trader should know how to read a Forex quote.
Most online forex trading platforms like automatically calculate the Profit & Loss of a traders. However, it is useful to understand how the calculation process is.

Let's illustrate how to calculate the P&L:

The current bid/ask price for EUR/USD is 1.2320/23, meaning you can buy 1 euro with 1.2323 US dollars or sell 1 euro for 1.2320 US dollars.
Suppose you decide that the Euro is undervalued against the US dollar. To execute this strategy, you would buy Euros (simultaneously selling dollars), and then wait for the exchange rate to rise.
So you make the trade: to buy 100,000 euros you pay 123,230 dollars (100,000 x 1.2323). Remember, at 1% margin, your initial margin deposit would be $1,232 for this trade.
As you expected, Euro strengthens to 1.2395/98. Now, to realize your profits, you sell 100,000 euros at the current rate of 1.2395, and receive $123,950.
You bought 100k Euros at 1.2323, paying $123,230. You sold 100k Euros at 1.2395, receiving $123,950. That's a difference of 72 pips, or in dollar terms ($123,950 - $123,230 = $720).
So the total profit is US $720
That is how the process of calculation is done. When calculating profit or loss, the trader should consider the spread as well as the interest differential.

[ForexGen Live Accounts Contest]

Trade, Compete, and Win - Begins the 1st of Every Month!
ForexGen has the pleasure to announce the launching of its first monthly Live Accounts contest,
This is NOT a demo contest

this is a live trading [competition] open for all live mini account holders. At the beginning of each month, the slate is wiped clean and traders have a new opportunity to win the monthly prizes.

What makes this contest unique?

All prizes are CASH prizes with no restrictions on withdrawing the prize money! How Do I Enter?
You don't have to pay any fee to enter this contest, all [ForexGen] mini Accounts with a balance of "$1000" and a default leverage of 1:200 are entitled to participate in this contest upon their account holder request by sending an e-mail request on live.contest@forexgen.com

For more information about our current and future promotions, kindly contact one of our customers support agents at promotions@forexgen.com

Demo Trading

DEMO TRADING or paper trading involves normal fx trading activities such as entering into buy (or sell) trades, setting stop orders, and exiting the market. It's basically the same as actual trading except for one crucial difference: You're not trading with real money.

It allows new traders to familiarize themselves with the brokers' trading platforms - for example, to learn how to place buy and sell orders, as well as how to set stop orders etc. It's a common occurrence for new traders to enter into a buy trade when they want to sell, and vice versa. Without a paper trading account, they'll be paying for such simple errors with real money.
Most says that one of the best ways to check out Forex trading and see if it is truly something that you like and feel that you can make money in is to open a forex demo account. This strategy allows you to view the account online and see how the account would perform if it were a real account.
The vast majority of reputable brokerage houses offering Forex Trading make these accounts available because they know that if you study and learn how to trade effectively you will be comfortable making larger trades, which in turn will make them more money. But of course, there's limit for demo trading.

Like other things, Demo Trading has disadvantages as well which will be tackled in my next post.

[ForexGen Academy]

If you are an experienced ‘FOREX’ Trader or just a beginner looking for the opportunities offered in the ‘FOREX’ market, [Forexgen] has created ForexGen Academy to give you the chance to get a ‘FOREX’ education and improve your trading skills. No hard expressions, no buzz words, and no rocket science language are used throughout these lessons.
How to Get Started?

People are introduced to the exciting world of foreign exchange in many ways: friends, current events, newspapers, television, and many others. For those of you who are new to forex, the following guidelines cover the basics of currency trading.

also do you Know ForexGen Lowest spreads in the market with 0-1 pip spread in 10 pairs, no commissions, no swaps and instant account Activation.

Demo Trading Part II - Disadvantages

In my previous post, we tackled about DEMO TRADING and the importance of it.

It is indeed a great way to get started in forex trading. It is used to be known as "paper trading". It allows you to get a taste for what type of events move markets and how they move. It gives traders who are new to forex a chance to get some 1st hand knowledge of all the nuances of live trading.
So there are many benefits of paper trading most especially to the newbies. Not only that, demo accounts do not cost anything and you can develop and test a system without a risk. But then, there seem to be found some disadvantages of using Demo Accounts.

1. NO UNDERSTANDING OF REAL RISK - The demo account saves you from potentially massive losses while learning, but does not teach you anything about dealing with the emotions you will feel once you lose.

2. DOES NOT INTRODUCE YOU TO FEAR - There is no fear when you are demo trading. If you start losing badly on a demo account - simply start a new one. So it does not teach you how to handle the emotion of fear.

3. NO SOUND MONEY MANAGEMENT - A demo account comes with a large amount of money deposited in it. These large amounts set up a psychological expectation to make large amounts of profit easily. This can encourage excessive risk taking once you switch to a live account with real money. The big difference is, when you have a live account and lose, it’s for real.

4. INTRODUCE YOU TO THE RAPTURE OF GREED - The whole point of trading is to make money and the more money you make - the stronger the pull of your greed becomes. It is intoxicating and can take complete control of you.

Conclusion:

A Demo Account is the only way one get real, in the trench battle experience without getting burned. You start by getting familiarized with the features and interface on the forex platform. That's all!
So try to familiarize everything you have to know and learn by demo trading and then try going live afterwards. You can try micro and mini accounts, so if you lose then it would not a big deal since you are not trading big money.
Demo Account is just for LEARNING PURPOSE. It's also a good way to test a system/method to see if it works before losing your money.
Excessive paper trading is not a good idea. There is a tendency for newbie traders to remain in demo trading for too long. Eventually you'll have to step out of your comfort zone and start trading with real money.

[ForexGen Introducing Brokers]

Introducing Brokers may be individuals or institutions who gain their income from the commissions and/or rebates by introducing customers to ForexGen trading.


WHAT are the advantages of being an INTRODUCING BROKERS with ForexGen?

* Providing the most huge income sharing plan
* Providing several ways for our IB's to charge commission.
* ForexGen IB can also charge commission for each lot the traders execute.
* Moreover, ForexGen IB is able to increase the spread for all or certain clients and have ForexGen Investments rebate the difference.

In case the IB does not increase the spread or charge their clients a commission, ForexGen rebate the IB a minor predefined amount for every client's executed lot.
Commission is paid out every month.

Individualized service

[ForexGen] offers our IB's individualized service created according to the individual needs and specified business situation for each IB.
Our Introducing Broker program provides a highly organized program for individualized services and organizations in order to introduce their clients to the online foreign currency exchange market, moreover they will enjoy the benefits of being a part of the ForexGen family.

ForexGen offers 1 pip spread on 10 pairs with high trading techniques that make ForexGen
incomparable to any other rival.

Forex? What is it, anyway?

The market
The currency trading (FOREX) market is the biggest and fastest growing market on earth. Its daily turnover is more than 2.5 trillion dollars. The participants in this market are banks, organizations, investors and private individuals, just like you. (Click here to read full market background by Easy-Forex™).

The goods (merchandise)
Markets are places to trade goods, and the same goes with FOREX. The Forex goods are the currencies of various countries. You buy Euro, paying with US dollars, or you sell Japanese Yens for Canadian dollars. That's all.

How does one profit in Forex?
Obviously, buy cheap and sell for more! The profit potential comes from the fluctuations (changes) in the currency exchange market.
The nice thing about the FOREX market is that regular daily fluctuations, say - around 1%, are multiplied by 100! (In general, Easy-Forex™ offers trading ratios from 1:50 to 1:200).

How risky is Forex trading?
You cannot lose more than your "margin" (your initial investment)! You may profit unlimited amounts, but you never lose more than what you initially risked. However, risk only what you can afford and is not vital for your well-being.

How do I start trading?
Register (Easy-Forex™ offers the simplest and quickest registration process, no obligation); deposit your first trading "margin" amount (credit cards are welcome, only by Easy-Forex™); start trading.

How do I monitor my Forex trading?
Online, from anywhere, anytime. You have full control to monitor status, check scenarios, change some terms in the deal, or close it.
Want to know more? Want to get on-line training? Register here (quick, no obligation), we'll be glad to guide you, every step of the way.

[ForexGen Promotions]

As ForexGen believes that its success depends totally on its client's satisfaction and success, ForexGen is sharing its growth and new site release with wonderful promotion packages.

*[Claim Your Bonus]
* [Live Account Contest]
*[ Demo Account Contest]
* [Refer A Client]
* [Scalping enabled Account]

Losing At Forex? Discover One Entry Technique That Will Change Everything!

I'm sure most people reading this have already spent several hundred if not thousand dollars in their search for the ultimate forex system that is going to stop the losing once and for all.
I grantee you that what I am about to share with you is better than the majority of the forex systems out there charging $100's. In fact I know of many people using this technique to extract profits from the forex market on a regular basis.

First of all you need to get all those crazy ideas of riches and success out of your head, keep your feet on the ground and focus on small achievable goals. Let me set the first goal for you.
Goal #1: Trade for 6 consecutive months with each month ending in profit.
Do this before ever thinking about risking serious money in the market. Ok now on to the trading technique.
This technique only uses daily charts, it only requires 10 minutes a day to look for setups and you do not need to watch open trades all day. Watching 11 pairs gives you around 2-3 setups a week, you can then take only the very best of these for optimal success.
What we are looking for is a pin bar, this is formed by price opening then moving drastically ether up or down and closing in almost the same place as it opened.

This formation alone we can not trade however when this formation happens around strong support/resistance areas with the nose of the pin pointing at the support/resistance area you have a high chance that price is about to take a good move away from that area.
Once a pin bar is formed on the daily chart and it is at a good area of support/resistance we can set our entry order. Price more often than not retraces 50% of the pin bar on the next trading day before taking off in the anticipated direction, this is were we place our entry to minimise risk.

Place your entry at the 50% level of the pin (or half way) and place your stop 5 pips behind the pin point. If you trade is not opened the next trading day then you should close the trade.
If it is opened you should have a good trade setting up with a 75% chance of becoming very profitable.
Stops are usually trailing by the same amount you risked however if you have time to monitor your trades you may wish to use discretion and move stops according to the support and resistance levels.
This setup takes a little time to master but once mastered will reward you will profits and plenty of free time.
Do You Want To Make Consistent Money Trading Forex? Dean Saunders has created the *Ultimate* FREE forex trading system that has helped 100's of Forex Traders become profitable. Click Here and grab your FREE copy of Dean's amazing trading system!

[ForexGen Customer & Trading Support]

ForexGen Customer Service seeks to achieve the highest level of customer satisfaction.

[ForexGen online trading services] are available 24 hours a day from Sunday at 6:00pm EST to Friday at 2:00pm EST to support and offer the help needed by all ForexGen's clients through answering any questions they may have.
ForexGen provides full time assistances to support clients during the usage of [ForexGen platform], whenever our clients face any problems during downloading or installing the platform ForexGen experienced stuff will help to overcome it.

ForexGen provides clients with full scale demonstrations and help for the technical issues.

Dealing Rooms.

ForexGen dealing desk representatives are available during trading hours - 24/5 from Sunday 6:00pm EST to Friday at 2:00pm EST.

You are encouraged to contact the dealing room by phone ONLY in these situations:

* If you are not able to access the internet.
* Failing to receive a confirmation on an online order.
* Failing to connect to ForexGen server.

How To Lose Your Money In The Forex Market

Recently Forex trading has become one of the most widely spread activities for those who want to make money by trading the markets.

The currency markets have many characteristics that make them very attractive to most traders. Mainly, the currency markets are high volume markets with a live trading activity that embraces most of the week and around the clock. Besides most trades are commission free, it offers a huge leverage (100 x 1) and forex is easily accessible by using an internet platform provided by the forex broker you decide to use.

But as simple as it may look when you first approach forex trading, the truth is that becoming profitable in trading is not easy. But before you get scared and decide to forget about forex trading, there is also one more truth: the markets are understandable and with the right knowledge and system you can become a profitable trader. Many people has achieved his goal of gaining a full time income from trading and you can too if you do things right.

There are many ways to lose money in the currency markets. For example you can ignore using “stops” in your trades and take huge risks thinking you have guessed the direction the market will turn next. Reality will show you that the turn of the market may take a long time to come and meanwhile it will cost you dearly. You can also use a “guessing system” to trade. This kind of approach, even with “stops” will result in making you a frustrated trader that will only keep losing more money than what you earn.

There is also a very important factor that can ruin your trades. This factor is “fear”. You can’t approach the markets with fear in your mind. You must be confident about what you are doing and how you will behave as your trade evolves with time. The best thing you can do in order to keep fear out of your trading is to have and understand a good and reliable forex trading system that will show you the way to a profitable trading career.

ForexGen Scalping Enabled Account

Trade and scalp the market [ForexGen] has the pleasure to announce the availability of both Dealing Desk and No Dealing Desk Platforms. No Dealing option provide traders with direct access to the best bid/ask prices through multiple bank access. No re-quotes & No dealer confirmation is the main characteristic of the no dealing option made specifically for “scalpers” and active FX professionals. Absolute freedom to trade during news and economic events. The no dealing desk option allows traders to place entry orders inside the spread! Unlike competing FX firms, [ForexGen offers] traders all the advantage of a “no dealing desk” option.

Advantages of No Dealing Desk Option

* Trade the news without intervention or restrictions * Although spreads may vary in volatile market conditions, they are tried to be kept within the usually limits. * Place scalping orders without intervention or restrictions. * A client-friendly trading environment, No re-quotes. * Ability to place orders inside the spread * Competing rates from multiple banks * Spreads are variable and can move sharply * Ideal for active or professional FX traders

For more information about our current and future promotions, kindly visit this page often or contact one of our customers support agents at promotions@forexgen.com