Posts Tagged ‘Forex’
Compounding forex winnings to get rich
Many people see forex as a way of getting rich fast. One of the ways they hope to get rich fast is by compounding their winnings. This means they will place a trade, win, and then increase the size of their next bet, using the winnings from the previous bet. This can seem like a great way to make loads of money. After all if your strategy [...]
Forex New Year’s resolutions for 2010
1. Write down my plan for each trade before pressing the buy/sell button. The plan will include the reason for why I am doing the trade, the expected profit, the initial stop loss and the expected duration of the trade. 2. Double-check the order quantity before executing the trade. It is too easy to lose money by buying or selling the wrong [...]
The Expert Advisor advantage
For most people trading in forex is a very manual process. It involves watching charts, indicators, and the news. They then have to work out in their head whether it is a good time to buy or sell. For some strategies this makes a lot of sense. For example if you trade based on news events then you need to be there to interpret how the news will [...]
Five tips for winning at forex trading
1. Exits are more important than entries Forex traders often over think about when they should enter a trade. Huge amounts of time can be spent looking at indicators, reading news, and drawing lines on charts to try and figure out if now is the perfect time to open a trade. Unfortunately for them they should be focusing some of that energy [...]
Book review roundup – Forex, Turtles, LTCM, Stock market and Randomness
I’ve been reading finance and trading books faster that I’ve been able to review them! Here is a roundup of the last five finance and trading related books that I’ve read. Currency Trading for Dummies by Mark Galant and Brian Dolan Mark Galan and Brian Dolan both work at forex.com which is one of the largest forex retail brokers in the [...]
Can trading forex make me rich?
Many people are attracted to the idea of trading in forex (or other financial instruments such as CFDs, shares, or spread betting) because they think it is an easy way to make money. In theory it is very easy. All you have to do is to predict whether a price is going to go up or down. If you are right then you get make money. The degree to [...]
Live vs demo trading account
If you are new to trading then you may be wondering whether to start with a live trading account or a demo (practice) trading account. A live trading account is one which will require real money to be deposited and then risked in each trade. Of course you will also be able to make real money. A demo - or practice account will allow you to [...]
Review of CMC’s CFD and Forex trading platform and service
CMC are a well known CFD, Forex and spread betting company. I signed up to try the service. Signup procedure You have to choose whether you want a CFD, Forex or spread betting account. The spread betting account is web based and the CFD and Forex accounts are run from within a Java application called MarketMaker. There is no need to sign up [...]
Get a Forex MetaTrader demo account for free
I was looking for a free MetaTrader demo account and the one from Alpari fits my needs nicely. The signup procedure is very quick. Just fill in a few basic details, download/install MetaTrader and you are ready to start. You can choose your initial balance when signing up. I haven’t worked out how to add more ‘money’ to the demo account [...]
My first trading mistakes
I first opened a CFD trading account about three months ago. In that time I've already made quite a few mistakes but hopefully I've learnt from them. Here are some of them. Not checking the spread before entering a trade If for example the index is moving in a range of say 10-20 points and you want to do a short term bet then opening a trade [...]
