How To Become A Currency Trader

If you are anything like me, you probably imagine that it is difficult to become a foreign currency trader. Perhaps there are rules, regulations and other hoops that have to be jumped through. Maybe you need large amounts of cash in order to get started.No.Becoming a Forex currency trader is incredibly simple!Get A Demo AccountAs I beginner I'd suggest you sign up with Oanda. Not only do they

24 Hours A Day 6 Days A Week?

Well, that's true, but not.Apparently the markets are closed from Friday at 4:00pm EST until Sunday at 5:00pm EST. I don't know about you, but that sounds like a 48 hour closure to me. Sure, there is only one day that trading does not occur, but that is semantics.A 48 hour closure means that you can trade 24 hours a day for a period of five days straight.A minor point, but I'm sitting here in

New User Mistake

Well, don't do this!I fell asleep last night before putting a loss limit on my USDCDN position. I could have lost my entire account balance if something disruptive had happened. Bad investor, bad.However, upon dragging my sorry behind to the computer, with much trepidation, I found I was in the positive. So far, FOREX is my friend. I know the shoe will be dropping soon... especially now that

Result Test #3

Result Test #3 :Buy Gbp/Usd at 2.0130, TP at 2.0220, profit = + 90 pipsBuy Gbp/Usd at 2.0175, TP at 2.0220, profit = + 45 pipsTotal = 135 pipsAugust total profit = + 467 pipsWin = 3Loss = 0Happy trading all ^_^

First Use Of Limits

Surprise, surprise, I've been involved in yet another trading session. This time, due to my reading, I decided to add a stop and a limit after completing my purchase. I'd never done this before and wasn't sure how easy it would be to do. One more small step on my road to knowing what I'm doing:B USDCAD @ 1.0565S USDCAD @ 1.0571 (L)While not all that exciting, I should mention that I only

Test #3

Buy limit GBP/USD at 2.0130, TP at 2.0220, SL = 2.0090Buy stop GBP/USD at 2.0175, TP at 2.0220, SL = 2.0035Start from today, I will try to give free signal more frequent so please come to my site everyday at 12.00 am until 4.00 pm (GMT +7)Good luck guys ^_^

Another Trading Session

I've been doing some reading, while waiting for prices to move up and down so I can get in and out of the market, so it's possible that I'll start to use industry terminology within the next few weeks.The best introductory site I've found so far is the Babypips.com offering. As I learned just the other day, a pip is a single movement point in the price of an issue being traded.Anyway, during

Lucky Morning Session

This morning I was quite simply very lucky. I had been having network troubles and was not able to watch my position closely for several hours:B EURUSD @ 1.3625B EURUSD @ 1.3612B EURUSD @ 1.3606B EURUSD @ 1.3603B EURUSD @ 1.3597When I did finally get my network fixed, I was sitting pretty with:S EURUSD @ 1.3650 (x5)Wow, I'd just turned $100.33 into $121.03 in a morning. Can you believe the ~20%

First Evening Trading

While I'm sure it will prove my amateur status as a trader here are some details of my first evening with my new toy:B EURUSD @ 1.3656 S @ 1.3657B EURUSD @ 1.3647 S @ 1.3651B USDCDN @ 1.0620 S @ 1.0619 ***Yeah, big time gains. Approximately $0.33 in my pocket after an evening of anxiously watching the charts.I learned an important lesson on the USDCDN trades. First, the spread, or the

About This Blog

Well, believe it or not, I just signed up for a FOREX account. I plan to blog my experiences (whether gains or losses) and perhaps help introduce some other people to this interesting world.Late last night, on the spur of the moment, I decided to create an account, jump in, and get my feet wet. I'll blog about the details later today, but while a little bleary eyed this morning I was $0.33

Forex day trading - Range of any currency

Forex day trading - Range of any currency pair.After a currency pair has been in a trend for while, it stops for a while and starts range trading. This is applicable for all time frames be it daily, weekly, 15 min or 1 hr or even 5min. Once the currency pair has caught the breath, it starts trending again. The trend can be any direction, however the forex pair mostly goes as per the elliott

Result Test#2

Result Test #2:Buy limit at 1.9990, TP=2.0150, profit=160 pipsBuy stop at 2.0045, TP=2.0150, profit=105 pipsTotal = 265 pipsAugust total profit = 266+66 = 332 pipsWin = 2Loss = 0Happy trading all ^_^

Test #2

Buy limit Gbp/Usd at 1.9990, TP at 2.0150, SL at 1.9950Buy Stop Gbp/Usd at 2.0045, TP at 2.0150, SL at 2.0005Gut luck guys ^_^