Monday, May 18, 2015

Forex Trading Tools That Can Enhance Your Experience and Increase Your Profits

To trade like a pro on the Forex exchange, you will either need to be a really savvy investor that is brilliant with trends, economics and market predictions, or you will need high quality tools that will help you to make your trades more effective and lucrative. Some investors trade on the margins which carries a significant amount of risk, while others prefer to play it safe. Either way you go as an investor, Forex trading tools can make the process much easier. You will be trading like a pro in no time with the use of these tools.There are tons of Forex tools available, so for the purpose of this article we will stick to the top tools that are used on the market today by global investors and traders.

The first tool that is invaluable to traders is the RSS feed tool. This tool can be fully customized, so that you get the latest economic developments available as soon as they hit the wires. Nothing is more useful when it comes to trades than real-time information. The City Times Ticker tool is also incredibly beneficial. Currency markets can experience rapid movement, so investors need to be prepared to make their trades in an instant if conditions are right. The City Times Ticker will enable traders to see Forex trading hours in major cities around the world.

If you are a serious investor that wants to build your trading portfolio to new heights, then the Forex economic calendar is a must have tool. The economic calendar releases continual updates on an hourly basis about current economic events in the world. Since economic events are vital in determining whether the currency markets will rise or fall, the economic calendar is a critical tool to have. It will give investors information on previous, forecasted, and actual results. The exchange rate tool is popular among traders as well.

This tool has many customization features to blend in well with all types of websites, and it is designed to allow investors to compare top currencies that are currently traded in the Forex markets. Each trader will prefer different tools, but there are tools available to suit the needs and preferences of every trader. Other great Forex trading tools that are commonly used by huge numbers of traders include the online currency converter, the profit and loss calculator, the real time Forex quotes tool, and the pivot point calculator.

To get further information about Forex trading tools, visit ForexMinute. Our website has tons of great information about trading in the Forex markets.

Should You Use VPS In Forex Trading?

First off, if you are not familiar with or why you would use a Virtual Private Server (VPS), it is considered a leading topic for web hosting but not so much for Forex trading.

That said, a virtual private server could be very useful to a trader depending on whether relying on an automated service and/or a chosen method of trading.

What Is A VPS?

A virtual private server is a very special server that is housed on the same computer along with other virtual private services, i.e., "virtual". Even though they are all on the same computer, they can perform and operate quite independently from each other.

With a VPS, you may install the operating system of your choice, have the ability to reboot and have complete and full control over the VPS, as if it were just a program on your computer. A VPS has its own dedicated power supply, allows flexibility, convenience and stability. You are given a certain amount of RAM, space and transfer allowance each month. What's not to love?

So What Has VPS Got To Do With Forex?

There are some excellent benefits in using VPS for trading instead of trading directly from your own computer:

Trade Anywhere Any Time:

Unless you have a laptop, let's face it, you have got to deal with trading where ever your computer is located. Possibly you just are not interested in mobile devices or maybe your broker doesn't support mobile trading. Some brokers do not have an online trading platform but does require a download. So, if you have a VPS, you may connect to your platform from literally anywhere. As long as you have a network connection, just log onto your VPS and make trades from anywhere - your hotel room or even an internet cafe.

Power's Down - Now What?

If you use automation for trading, you can keep trading even when your power goes down. As long as your automated system performs well without constant monitoring, you will continue to make money until you can get back on line when power is restored.

Any Time Of Day:

OK, so you do not have to be at a particular location, your system can execute trades when you are away or your computer is off. Now you know the system will continue to trade even when you are asleep!

The Best Security Anywhere:

VPS systems are offered by the very best companies in the world and have the very best security in the world! VPS servers are regularly checked to make sure all operations are functioning properly. The majority of these companies guarantee a 99.9% up and running time. You will constantly revive anti- virus and other valuable tools to keep your system from ever becoming vulnerable.

A Great Deal Less Slippage:

Even if you personally prefer to place all your trading entries manually, your VPS will benefit your activities. A VPS can carryout your trades faster than your computer because its transmission of orders is so much faster. You will experience less delays and a great deal less slippage. As I'm sure you know, slippage can cost a great deal of money, this is the best way to reduce losses and any unpredictable occurrences.

Deciding To Go With VPS:

These systems can be rather expensive services even if you only need the very basics such as minimum disk space, so do a little homework first. Look for companies that offer good RAM and adequate transfer allowances.

Read up on reviews given toward various companies, find the best hosting and get in touch with customer service to get further information. Ask how many system resources you would actually need before making any purchases from a company.

As this is a monthly payment plan, why spend more than you really have to?

Not everyone will benefit from a VPS, some will benefit a great deal while others will experience limited benefits including limited slippage.

Ask yourself, if you depend on automated trading, have limited resources for placing trades, such as download software or mobile devices, If you answer yes to these circumstances, VPS could possibly be a good choice for you.

Mean Lion is a reliable web host for virtual private servers. Note: For operating system choose "Windows" NOT "Linux"!

Looking for a Forex Robot? Here you can download RSI Robot for free, a Forex expert advisor. The RSI Robot was created for reliability, safe trading, and consistent returns. It's also super easy to use. There are no settings to adjust or configurations to learn.

How Beginners Can Start Making Money Through Forex

If you are in need of a business to invest your money to get profit, I recommend Forex trading. There are other markets such as futures, treasury bonds and stock that you can invest your money into. But the reason why Forex is far more preferable is due to its liquidity and affordability.

Unlike other markets whereby you are not permitted to withdraw your money since it yields interest gradually, you can withdraw your money in Forex anytime you choose to. In Forex market, you determine how much you make daily depending on how good you are. Forex trading takes place throughout the day and 6 days a week since people from different parts of the world do business in different time zones.

Anyone who wants to trade in the Forex market will have to go through the brokers. Most brokers have almost all the currency pairs, gold, silver, diamond, and other equitable items such as real estate, crude oil etc. The broker provides this service for you and also advices you on the commodity that is best for you trade on.

The good news is that things have been made easy and average individuals can now participate in Forex market. Individuals who do not have enough money can borrow $500 and refund it gradually as they begin to make profit.

Forex traders analyze the market before placing any trade. That's why the Forex market is not a gambling game as many people think. There are two ways to analyze the Forex market. They include the fundamental and the technical analysis. The technical analysis deals with the use of chart and charting indicators to predict the direction of the market. The other one, the fundamental analysis deals with the use of reports from the government to predict the direction of the market.

Traders' opinions are quite different. Some traders rely solely on technical analysis. They believe that the technical analysis gives them all they need. Some traders on the other hand prefer the fundamental analysis while many other traders use both for analyzing the market condition.

The Forex market can be traded anywhere in the world. You only need a laptop, PC or a VPS (Virtual Private Server) to ensure that you are always online. Gone are the days when you need to stay with your computer whenever you place an order. Metatrader has made everything easier. In metatrader, you can place a stop loss or take profit and go anywhere you want. I shall cover that in my next post. Also, in place of VPS, you can monitor your trade with smart phones.

Apart from the client based version, an investor can decide to trade the Forex market by making use of the web-based version. The web-based version is only recommended for the professional traders. The best version for the newbies is the client based version to enable them to trade effectively.

Studies show that over 4 trillion dollars are traded in the Forex market. This makes Forex the largest market in the world. This indicates that anyone with good knowledge of Forex can make thousands of dollars.

An important question to ask by prospective Forex traders is, is the Forex market risky? The answer is definitely yes. Just like all other businesses, Forex trading can be very risky. In fact, due to the volatility of the Forex market, Forex is by far riskier than other businesses. However, with a good knowledge and money management, you will trade successfully and make thousands of dollars. As a newbie, it is advisable to risk little money on each trade you place to prevent exhausting all the money in your account.

Looking for a Forex Robot? Here you can download RSI Robot for free, a Forex expert advisor. The RSI Robot was created for reliability, safe trading, and consistent returns. It's also super easy to use. There are no settings to adjust or configurations to learn.

How To Become Succesful In Forex Online Trading

Forex online trading can be a great way to supplement your income if you are a resident in this country. Whether you work full time or have a part-time job, you can still find time to trade in this market. You can make good profits in the Forex market without putting too much money in your original investment. You however need to know how to predict the direction of the market properly if you want to increase your chances of profitability.

The key to successful Forex online trading is to specialize in the currency pairs that can be traded when you are available for trading. You will also need to use strategies that do not need constant portfolio monitoring if you want to increase your chances of being successful. The best way to accomplish this will be by using an automated trading system especially if you are still new to the market or you have limited experience.

The Forex market is open 24 hours a day throughout the week, but to increase your chances of making good profits, it is a good idea to trade during peak volume hours to guarantee liquidity. Liquidity simply refers to the ability to sell a position when you are trading in the Forex market. It is much easier to do when the market is most active. For instance, if you have a day job that goes up to 9.00 pm, it means that you will be available to trade either early or late in the day. So, high volume may occur either late at night or early in the morning depending on the currencies that you are trading.

Before you even start Forex online trading, you will need to research different brokerages and choose the best among them. Look for a broker that is experienced if you want to have an easy time when trading in the Forex market. Experience is a sign that the broker knows what they are doing and also knows how to take care of clients. You will also need to make sure that the Forex broker is regulated by a major oversight body. This way, you can be assured of their honesty as well as transparency.

When you are just starting to trade in the Forex market, it is advisable to start small. In fact, you should start with a demo account which allows you to simulate live Forex trading without using real money. Trading with a demo account will give you a sense of what you will be doing when you start trading with a real Forex account. As you get used to the market, it is okay to deposit more money and make your account bigger. But you will need to learn how to manage risks and emotions in order to reduce the mistakes you make when trading, and as a result reduce loses. The Forex market is very volatile, so you need to know what exactly you are doing without letting emotions get into your way.

How to Find Good Forex Expert Advisors

Forex Expert Advisors (Forex EAs or Robots) are program codes specifically tailored for the purpose of reading the price feed from a Forex trader's data provider through their trading platform using algorithms. They are designed to search for pre-programmed price patterns and make decisions on behalf of the trader that follow rules programmed into their decision trees. These decisions carefully assess trading opportunities for Forex traders and provide them with advice which they can use to earn maximized profits from trades. Many FX traders want to find a good Forex EA for them. Well, the following are all the steps one must accomplish in order to find a good FX Robot:

Step 1: Determine what you need

The first step to find a decent Forex Expert Advisor, is to determine what you need. Different Forex Expert Advisors can be programmed to make different decisions. They can run on a multitude of different algorithms, which is why a person needs to first determine what they need from a Forex Expert Advisor before moving to actually finding a good Forex EA to ensure it offers everything they need.

Step 2: Create a list of all the Forex EAs who are capable of providing what you need

Once a person has determined what he needs from a Forex Robot, the next step would be to find each and every single Forex Expert Advisor in existence that offers what they require and create a list. A person should make sure that they enlist every single Forex Robot that offers all the things they require in order for a fool proof process.

Step 3: Check out all the Forex EAs on your list and start eliminating

The next step which a person needs to complete in order to find a good Forex EA, is to check out all of the EAs on their list and start eliminating the EAs that are either subpar or do not offer all of the things they require. It is only through the process of elimination, the process of choosing one Forex Expert Advisor out of the many Forex EAs in existence will be easier for a person. This process will result in a handful of options to choose from.

Step 4: Choose the Forex EA that has the most to offer to you

When a person is left with only a few Robots, which are the best of the best for them? All a person needs to do now is choose one of these EAs. How will a person be able to accomplish such a feat? Well, a person needs to closely examine all of the Forex Expert Advisors that they are left with, determine what each of them has to offer, and then choose the Forex EA that has the most to offer. What a person will choose while accomplishing this step will undoubtedly be a good Forex Expert Advisor for them.

Looking for a Forex Robot? Here you can download RSI Robot for free, a Forex expert advisor. The RSI Robot was created for reliability, safe trading, and consistent returns. It's also super easy to use. There are no settings to adjust or configurations to learn.

Forex Fundamentals Made Easy

We established that in every trading plan the fundamentals of currencies should take the primary seat and we use technicals as a co-driver to boost our probability model. In the following article we are going to show a way to keep on top of the Fundamental analysis and use it in your trading in essence we are going to show you fundamentals made easy.

Fundamentals are easy to keep up with, once we have caught up which what the major global economies, their actions and intentions are we simply follow their outlook from then on. As they change their view on policy for the currencies we simply note that the sentiment of that currency has either changed or remained the same. We pay attention to their statements and watch the economic data that they point to as leading data for their decisions.

Fundamentals are primary because we would not want to buy a currency that has a monetary policy which indicates weakness. If we do that we simply trade against the professional traders, the largest banks and hedge funds around the world which will surely result in losses. If we take into consideration the fundamental view of the hedge fund managers and large banks then we can trade with confidence that the currency will head in the desired direction overall.

We can keep up with fundamental news and economic data releases when we access central banks' websites and we read their official published statements, then we can head to an economic calendar which are provided through reputable forums and see the economic data releases for each currency in real time. We can always see the previous figures, the forecasted ones and at the given time the actual data that is being released. Bear in mind that just because a data comes out better it doesn't automatically mean that the given currency strengthens. It is important to analyze the whole economy of a country and not solely rely on one data release, because every economic data is linked to another which influences the big picture that is playing out.

Unfortunately it is fact that 95% of retail traders fail to turn a profit month on month in trading; one of the reasons for this comes down to the lack of understanding of the fundamentals of the market. All the brokers will offer free training on the subject of spread betting, however you will find this is technically based. The reason for this is simple; they don't want you to follow the fundamentals and be successful.

Greg Joined BOAFX Trading Signal Solutions as a technical analayst consultant and company trader in 2015. Since trading with the company he has studied the fundamental analysis education courses and boosted his and the companies profits 100%. Greg now resides with BOAFX as a trainer, consultant and full time trader.

Forex Money Management Rules

The money management strategy is very personalized, since it is designed and executed to meet individual requirements of a trader. This strategy varies from one trader to another, because every trader has a different goal, different risk tolerance level, and different amount of capital. Therefore, there is no universal advice to formulate this strategy.

However, following are some tips that can be used by binary options traders to select a reasonable money management strategy that will be useful for them to make profitable trades:

Control the Risk and Achieve Consistency

A trader must be careful in formulating the money management strategy to increase returns. The successful binary options traders with long term plans do not seek to increase their return. Instead, they strive to control the risk, and achieve consistency over a longer period of time. They try to find the techniques that will help them attain consistent outcome with minimal drawdowns, even if it means earning small profits in the process. Therefore, a trader should control his risk, and achieve consistency first, and then accept the returns no matter how small they are.

Try to Achieve Break Even

In the past few years, most traders have adopted a strategy to risk a small portion of their profit. Money management strategy is also known as fixed fractional trading, as it decreases the dollar amount of risk when a trader suffers a loss, and increases the risk level when he earns profits. Therefore, a trader must strive to achieve a breakeven with a proper money management strategy. When traders use this strategy to risk a small portion of their profit, they turn their trading system into a loser. But if their approach involves risking a fixed dollar amount on every trade they place, it will not only improve the system's performance, but will also allow them to hit the break even, and improve profits.

However, this approach has its down side. By adopting it, the recovery of the drawdowns is not as quick as traders expect, and the profits cannot be recovered as fast as they were made by traders.

Periodically Taking out Profits and investing them elsewhere to allow Diversification

In order to get back the profits as quickly as they were made by traders using fixed dollar amount approach, a trader must take some profit out of his account, and invest it elsewhere to allow diversification and reduce the overall risk. Being a trader, you must make it a habit to take a portion of your profit and invest it where it can be best utilized to increase its value.

Although, the account balance may grow at a slower pace with this approach, but it is better to keep on increasing the value of your money than to expose it to risk. This way, a trader will be relieved and stress free by reducing his bet size, in case he faces a series of losses.

Keeping the Focus on Maximizing Returns is not a Wise Approach

Therefore, a successful trading approach with a money management strategy is to keep a certain amount of profit aside, and invest it in something more productive to diversify away the risk. Nowadays, every trader tries to find a formula to maximize the returns, but what they don't realize is that winning big doesn't mean they will not suffer losses. Sometimes, the highly profitable accounts end up losing all of the balance due to lack of understanding.

A trader must always develop a sound trading plan when placing their money in the binary options market, because it is the real money they are trading with. Therefore, they have to adopt reasonable strategies and approaches to trade successfully in the market. Being a trader, if you manage to keep a portion of your profit aside every time you trade, it will improve the overall value of your investment, and boost your confidence.