By James Woolley
New people enter the forex trading industry every single day, often as individual traders who attempt to generate profits all by themselves. The trouble is that even highly experienced traders often find it difficult to turn a profit, so the novice trader has very little chance of making money in the long run.
There are always some exceptions. I know several traders in the UK who earn either a full-time or a part-time income from trading the currency markets. However as forex firms can themselves testify, the majority of traders end up losing money in the end.
It is for this very reason that more and more people are giving control of their money to other more experienced traders, in the hope that they will make a better fist of it than they can. This sounds like a risky strategy but right now in 2012 it can be a viable way to generate consistent returns if you know what you are doing.
Unless you have the privilege of knowing a profitable trader yourself, you can go down this path by making use of third party signal providers. These come in a few different forms.
There are the old fashioned providers who operate on a subscription basis. In other words you pay a monthly fee, and in return they will send you signals to open and close positions (hopefully for a profit) in real time. The drawback is that you still have to actually place the trades yourself, which can be quite an inconvenience if you are in full-time employment.
The other option is to hand over complete control to another trader (or group of traders) and let them enter and exit positions on your behalf based on their own signals. Many people are choosing this option right now because there are now some very good websites that have made all this possible.
They work by bringing together signal providers and signal subscribers, and both groups of people (along with the host website) have the potential to make some excellent returns.
It all depends on the ability of the signal providers of course, but if you manage to choose the right ones after doing lots of research, there is no reason why you cannot make long term profits from third party forex traders.
It is certainly a lot easier to do your research based on past results and pick out the genuinely profitable traders who generate solid returns without taking adverse risks, than it is to try and make money using your own strategies. Many people try doing this but ultimately fail, which is why third party signal providers are only going to become more and more popular in the coming years.
James Woolley is the owner of theforexarticles.com. Here you will find Marketclub reviews, as well as a full review of the Zulutrade signals website at http://theforexarticles.com/zulutrade-review/.
Article Source: http://EzineArticles.com/?expert=James_Woolley
http://EzineArticles.com/?Why-Forex-Traders-Often-Switch-To-Third-Party-Signal-Providers&id=7253657
Hi, Welcome to FXKnight. I am here to share some great information for anyone want to participate in the FX market.
Tuesday, 13 November 2012
Monday, 12 November 2012
Linked Forex Trading Broker Accounts to Good Forex Traders: Financial and Risk Factors
By Alex Du Plooy
These days many busy Forex traders are linking their Forex broker accounts to Forex accounts traded by good Forex traders. They are often too busy to trade themselves and therefore would rather have the experts trade their account. These linked Forex accounts can be done in many ways such as using a formal account linking organisation such as Zulutrade or by using a VPS account linking service. Before linking your Forex trading broker account you need to do some financial feasibility and risk investigations before committing to such a service.
Firstly evaluate the costs compared to the balance of your account. If you are paying eighty dollars a month for signals and twenty dollars a month for the linking fee your total monthly cost is one hundred dollars. If however you are only using an account of one thousand dollar it means that you will have to make a return of ten percent per month to breakeven. This is clearly this has low financial feasibility. If your account balance is ten thousand dollars you would only have to make a return of one percent to breakeven. This is much more acceptable.
Many linked Forex trading broker accounts opportunities allow you to set the amount or percentage risked per trade. From a financial risk perspective you should risk very small amounts or percentages initially until you are happy about the performance generated. Once you are happy about the Forex trading of your successful traders you can gradually increase the percentage risked over time.
The percentage drawdown calculation is one very often overlooked by investors. This is the maximum loss incurred during the biggest losing streak as a percentage of the capital prior to the losing streak. This will give you an idea of the risks involved and guide you as to what a safe percentage to risk per trade should be. The success rate achieved by good Forex traders is often a statistic used and abused in the marketing process and misunderstood by investors. A high success rate is not a guarantee of financial success if a trader has a ninety percent success rate and financially losses more the ten percent of the time when loses are made. Therefore be very aware of the size of losses incurred or potential size of losses that can be incurred.
You should take your time and be thorough when evaluating potential Forex account linking opportunities.
Alex du Plooy is a partner and trader at at the online Forex trading company Expert4x.com. He provides articles, videos, free and paid forex course and tools, live trading and training webinars. details of these can be found at his Blog at Expert-4x or at on the website at Forex Trading Alerts
Article Source: http://EzineArticles.com/?expert=Alex_Du_Plooy
http://EzineArticles.com/?Linked-Forex-Trading-Broker-Accounts-to-Good-Forex-Traders:-Financial-and-Risk-Factors&id=6625336
These days many busy Forex traders are linking their Forex broker accounts to Forex accounts traded by good Forex traders. They are often too busy to trade themselves and therefore would rather have the experts trade their account. These linked Forex accounts can be done in many ways such as using a formal account linking organisation such as Zulutrade or by using a VPS account linking service. Before linking your Forex trading broker account you need to do some financial feasibility and risk investigations before committing to such a service.
Firstly evaluate the costs compared to the balance of your account. If you are paying eighty dollars a month for signals and twenty dollars a month for the linking fee your total monthly cost is one hundred dollars. If however you are only using an account of one thousand dollar it means that you will have to make a return of ten percent per month to breakeven. This is clearly this has low financial feasibility. If your account balance is ten thousand dollars you would only have to make a return of one percent to breakeven. This is much more acceptable.
Many linked Forex trading broker accounts opportunities allow you to set the amount or percentage risked per trade. From a financial risk perspective you should risk very small amounts or percentages initially until you are happy about the performance generated. Once you are happy about the Forex trading of your successful traders you can gradually increase the percentage risked over time.
The percentage drawdown calculation is one very often overlooked by investors. This is the maximum loss incurred during the biggest losing streak as a percentage of the capital prior to the losing streak. This will give you an idea of the risks involved and guide you as to what a safe percentage to risk per trade should be. The success rate achieved by good Forex traders is often a statistic used and abused in the marketing process and misunderstood by investors. A high success rate is not a guarantee of financial success if a trader has a ninety percent success rate and financially losses more the ten percent of the time when loses are made. Therefore be very aware of the size of losses incurred or potential size of losses that can be incurred.
You should take your time and be thorough when evaluating potential Forex account linking opportunities.
Alex du Plooy is a partner and trader at at the online Forex trading company Expert4x.com. He provides articles, videos, free and paid forex course and tools, live trading and training webinars. details of these can be found at his Blog at Expert-4x or at on the website at Forex Trading Alerts
Article Source: http://EzineArticles.com/?expert=Alex_Du_Plooy
http://EzineArticles.com/?Linked-Forex-Trading-Broker-Accounts-to-Good-Forex-Traders:-Financial-and-Risk-Factors&id=6625336
Sunday, 11 November 2012
Auto-Trading Using Zulu Trade - The Merits and Demerits You Must Know
By Matthew John
ZuluTrade is developed to allow automatic execution of Forex trades signals. Its trade robot handles the execution of various trade signals that are offered by different Forex signal providers in the market. ZuluTrade was founded in 2007 and has significantly grown with operations in different parts of the world. It is currently headquartered in Athens, Greece and has other branch offices in Hong Kong, New York, and Shanghai. Currently it has more than 15,000 trading clients registered with its online trading network and is executing trades in approximately 183. Using ZuluTrade auto-trade is simple and free.
Merits Of Using ZuluTrade Auto-Trade
1. Automated Forex Trading
ZuluTrade is developed to effectively combine online Forex trading with other social aspects that allows the trader to easily trade trades and success rates. The auto-trade also allows the online currency trader to automatically mimic preferred trades so that they easily take advantage of other experts' strategies from 60 Forex brokers worldwide. The auto-trader has a chance to choose by himself which signal providers or experts to follow. ZuluTrade auto-executes transactions for free once the trader has selected the provider signal.
2. User Interface
ZuluTrade provide the best trading interface. They provide a page where their registered auto-traders can formulate and compile their portfolio. The auto-trader can add multiple signal providers to auto-trade their Forex account. You can also configure many aspects on the user interface including portfolio and various other parameters from the signal providers selected. These including setting risk limits, different multipliers, stop loss targets etc.
3. Risk Management
Another benefit of ZuluTrade free auto-trade is that they offer useful functions for money management and risk control. ZuluTrade has developed a tool known as "Margin-Call-o-Meter" to protect their registered clients from margin call effects. This is a very important tool that you should not neglect. Clients who avoid this tool taking up much leverage ends up making losses. Such auto-traders end up making huge sums of money.
4. AAAFX - ZuluTrade Integrated Broker
ZuluTrade integrates with AAAFX that offers many advantages to Forex their auto-traders. First, AAAFX offers the lowest possible slippage amongst other signal providers. Always they are among the top 3 brokers offering lowest slippage. This allows you to closely mirror the performance of your trades. Less slippage also allows you to have more pips in your pocket which you can take advantage of any time.
5. Free Accounts Management
ZuluTrade offers free account management. The auto-trader is only required to select a signal provider. The ZuluTrade will actually execute all the transactions on behalf of the trader free of charge. They offer this service to trader who matches the signal provider's activity irrespective of the brokerage which holds the trader's account. In addition, ZuluTrade require no third-party wire transfers and no minimum capital investments. All funds are held by the trader's brokerage account.
Demerits Of Using ZuluTrade Auto-Trade
1. Riding On Someone Else's Trading Skills
Of course this is the greatest ZuluTrade strength which also turns out to be its greatest weakness. ZuluTrade is developed to help the trader ride on experts' skills. This is a big risk when you consider that anyone can become a signal provider. This can lead to poor quality trading system on the website making traders abandon many trading systems.
2. No System In Place To Filter Signal Providers
ZuluTrade relies on several signal providers some of which are inactive. Unfortunately, there is no method in place to filter out inactive and abandoned signal providers. They remain littering the site for nothing. Even some profitable signal providers do crash and burn due to high-risk strategy thus need to be removed from the website.
3. Inconsistent Opening And Closing Operations
Many ZuluTrade auto-trade clients complain of inconstant operations in opening and closing orders especially in America. This is due to the new regulation being enforced by NFA FIFO. The new regulation prevents the trader from closing the second open operation when the first one is still open.
Conclusion
Despite these few demerits, ZuluTrade still remains the best that you can use to execute your trades even when asleep. I would say no broker is perfect and everyone has their own weaknesses. There are plenty of outstanding trading opportunities that ZuluTrade provides. By being careful with signal provider selection and practicing due diligence, you can make loads of cash while asleep using ZuluTrade free auto-trade account.
Utilizing ZuluTrade could be beneficial if used correctly with the right broker. See the details of one of the best brokers that registered in ZuluTrade at AAAFx review. If you rather having EA as your auto-trading means, I'd suggest you check out the recommended ones at best forex robot.
Article Source: http://EzineArticles.com/?expert=Matthew_John
http://EzineArticles.com/?Auto-Trading-Using-Zulu-Trade---The-Merits-and-Demerits-You-Must-Know&id=6611355
ZuluTrade is developed to allow automatic execution of Forex trades signals. Its trade robot handles the execution of various trade signals that are offered by different Forex signal providers in the market. ZuluTrade was founded in 2007 and has significantly grown with operations in different parts of the world. It is currently headquartered in Athens, Greece and has other branch offices in Hong Kong, New York, and Shanghai. Currently it has more than 15,000 trading clients registered with its online trading network and is executing trades in approximately 183. Using ZuluTrade auto-trade is simple and free.
Merits Of Using ZuluTrade Auto-Trade
1. Automated Forex Trading
ZuluTrade is developed to effectively combine online Forex trading with other social aspects that allows the trader to easily trade trades and success rates. The auto-trade also allows the online currency trader to automatically mimic preferred trades so that they easily take advantage of other experts' strategies from 60 Forex brokers worldwide. The auto-trader has a chance to choose by himself which signal providers or experts to follow. ZuluTrade auto-executes transactions for free once the trader has selected the provider signal.
2. User Interface
ZuluTrade provide the best trading interface. They provide a page where their registered auto-traders can formulate and compile their portfolio. The auto-trader can add multiple signal providers to auto-trade their Forex account. You can also configure many aspects on the user interface including portfolio and various other parameters from the signal providers selected. These including setting risk limits, different multipliers, stop loss targets etc.
3. Risk Management
Another benefit of ZuluTrade free auto-trade is that they offer useful functions for money management and risk control. ZuluTrade has developed a tool known as "Margin-Call-o-Meter" to protect their registered clients from margin call effects. This is a very important tool that you should not neglect. Clients who avoid this tool taking up much leverage ends up making losses. Such auto-traders end up making huge sums of money.
4. AAAFX - ZuluTrade Integrated Broker
ZuluTrade integrates with AAAFX that offers many advantages to Forex their auto-traders. First, AAAFX offers the lowest possible slippage amongst other signal providers. Always they are among the top 3 brokers offering lowest slippage. This allows you to closely mirror the performance of your trades. Less slippage also allows you to have more pips in your pocket which you can take advantage of any time.
5. Free Accounts Management
ZuluTrade offers free account management. The auto-trader is only required to select a signal provider. The ZuluTrade will actually execute all the transactions on behalf of the trader free of charge. They offer this service to trader who matches the signal provider's activity irrespective of the brokerage which holds the trader's account. In addition, ZuluTrade require no third-party wire transfers and no minimum capital investments. All funds are held by the trader's brokerage account.
Demerits Of Using ZuluTrade Auto-Trade
1. Riding On Someone Else's Trading Skills
Of course this is the greatest ZuluTrade strength which also turns out to be its greatest weakness. ZuluTrade is developed to help the trader ride on experts' skills. This is a big risk when you consider that anyone can become a signal provider. This can lead to poor quality trading system on the website making traders abandon many trading systems.
2. No System In Place To Filter Signal Providers
ZuluTrade relies on several signal providers some of which are inactive. Unfortunately, there is no method in place to filter out inactive and abandoned signal providers. They remain littering the site for nothing. Even some profitable signal providers do crash and burn due to high-risk strategy thus need to be removed from the website.
3. Inconsistent Opening And Closing Operations
Many ZuluTrade auto-trade clients complain of inconstant operations in opening and closing orders especially in America. This is due to the new regulation being enforced by NFA FIFO. The new regulation prevents the trader from closing the second open operation when the first one is still open.
Conclusion
Despite these few demerits, ZuluTrade still remains the best that you can use to execute your trades even when asleep. I would say no broker is perfect and everyone has their own weaknesses. There are plenty of outstanding trading opportunities that ZuluTrade provides. By being careful with signal provider selection and practicing due diligence, you can make loads of cash while asleep using ZuluTrade free auto-trade account.
Utilizing ZuluTrade could be beneficial if used correctly with the right broker. See the details of one of the best brokers that registered in ZuluTrade at AAAFx review. If you rather having EA as your auto-trading means, I'd suggest you check out the recommended ones at best forex robot.
Article Source: http://EzineArticles.com/?expert=Matthew_John
http://EzineArticles.com/?Auto-Trading-Using-Zulu-Trade---The-Merits-and-Demerits-You-Must-Know&id=6611355
Friday, 9 November 2012
Teach Me Forex - Peer To Peer Trading - What Is ZuluTrade?
By Dean Watt
ZuluTrade is an online system to connect people who trade Forex with others who want to learn to make money in Forex. It works by using a signal provider and signal follower system. This means Forex traders can sign up to the service and offer their skills to others. Signal followers are free to choose any signals.
It is free to use any system on ZuluTrade and the provider of this system earns money from broker commissions. For every trade the provider makes a broker will pay them a commission for the signal followers business. In this way the good trader is able to attract a good following and make substantial money. To follow a signal follower you need a Forex broker and It is easy to join a broker from ZuluTrade itself.
How it works?
ZuluTrade ranks all of the signal providers from 1 to over a 1000+. The lower the number the better the system provider has performed. If the provider reach the top rankings they can earn a very decent living.
As a signal follower you need to open your ZuluTrade account. If you are new to Forex trading choose a demo account to start with. You will then be able to select who you want to follow. Have a look at the system providers pages and see who you like.
At the beginning just chose one signal provider. When you get more familiar with the system you can add more. Once you have selected your provider you are faced with a choice of how you wish to trade. You have 2 choices automatic and custom.
Automatic means you set your risk and the ZuluTrade terminal sets your lot sizes for you. It is better to select a low risk settings. It is tempting to set the risk high as you can see the potential to make a killing. However with high risk setting you are more likely to lose your money rather than make it.
Custom setting means you can manually select the lot sizes, number of trades taken, stop losses and take profits. This requires more skills than the automatic system but if you can learn how to use it, it provides great control over ZuluTrade.
For people who are new to Forex trading you should select automatic. You can then start to learn how to use the functionality of ZuluTrade. This means you can start to understand how trades happen and how this can effect you emotionally.
For those who are more adventurous and/or experienced use the custom setting. One of the best things about the custom setting is the backtest facility. This allows you to add in the lot size, take profits etc. Looking at these results show you how your account would have performed if you had used the signal provider with those settings.
By using the back testing feature you can learn about lot sizing and stop losses. This will help you chose the correct settings for your accounts.
ZuluTrade offers a hands free way of trading and ZuluTrade offers a gateway for many people who wish to make money in forex.
Now that we know that a platform like zulutrade can make us money. Whats the catch?
A little knowledge is a dangerous thing. When we follow a signal provider blindly we are at their mercy. Set the wrong lot size and risk profile and you can say goodbye to your account. It's not a matter of IF... but WHEN!!!!!!
However there is a way of keeping ourselves safe. This is through using a risk management system that controls how we trade our signal providers. This simple system will keep us safe and ensures that we can make money from Zulutrade.
Come and visit me to learn how you can avoid losing all your money.
Article Source: http://EzineArticles.com/?expert=Dean_Watt
http://EzineArticles.com/?Teach-Me-Forex---Peer-To-Peer-Trading---What-Is-ZuluTrade?&id=7148625
ZuluTrade is an online system to connect people who trade Forex with others who want to learn to make money in Forex. It works by using a signal provider and signal follower system. This means Forex traders can sign up to the service and offer their skills to others. Signal followers are free to choose any signals.
It is free to use any system on ZuluTrade and the provider of this system earns money from broker commissions. For every trade the provider makes a broker will pay them a commission for the signal followers business. In this way the good trader is able to attract a good following and make substantial money. To follow a signal follower you need a Forex broker and It is easy to join a broker from ZuluTrade itself.
How it works?
ZuluTrade ranks all of the signal providers from 1 to over a 1000+. The lower the number the better the system provider has performed. If the provider reach the top rankings they can earn a very decent living.
As a signal follower you need to open your ZuluTrade account. If you are new to Forex trading choose a demo account to start with. You will then be able to select who you want to follow. Have a look at the system providers pages and see who you like.
At the beginning just chose one signal provider. When you get more familiar with the system you can add more. Once you have selected your provider you are faced with a choice of how you wish to trade. You have 2 choices automatic and custom.
Automatic means you set your risk and the ZuluTrade terminal sets your lot sizes for you. It is better to select a low risk settings. It is tempting to set the risk high as you can see the potential to make a killing. However with high risk setting you are more likely to lose your money rather than make it.
Custom setting means you can manually select the lot sizes, number of trades taken, stop losses and take profits. This requires more skills than the automatic system but if you can learn how to use it, it provides great control over ZuluTrade.
For people who are new to Forex trading you should select automatic. You can then start to learn how to use the functionality of ZuluTrade. This means you can start to understand how trades happen and how this can effect you emotionally.
For those who are more adventurous and/or experienced use the custom setting. One of the best things about the custom setting is the backtest facility. This allows you to add in the lot size, take profits etc. Looking at these results show you how your account would have performed if you had used the signal provider with those settings.
By using the back testing feature you can learn about lot sizing and stop losses. This will help you chose the correct settings for your accounts.
ZuluTrade offers a hands free way of trading and ZuluTrade offers a gateway for many people who wish to make money in forex.
Now that we know that a platform like zulutrade can make us money. Whats the catch?
A little knowledge is a dangerous thing. When we follow a signal provider blindly we are at their mercy. Set the wrong lot size and risk profile and you can say goodbye to your account. It's not a matter of IF... but WHEN!!!!!!
However there is a way of keeping ourselves safe. This is through using a risk management system that controls how we trade our signal providers. This simple system will keep us safe and ensures that we can make money from Zulutrade.
Come and visit me to learn how you can avoid losing all your money.
Article Source: http://EzineArticles.com/?expert=Dean_Watt
http://EzineArticles.com/?Teach-Me-Forex---Peer-To-Peer-Trading---What-Is-ZuluTrade?&id=7148625
Wednesday, 7 November 2012
Why Automatic Forex Trading Software Is The Best Tool For Forex Traders
By Shawn Sofo James
Technological advancements have led to great strides in every sector of human life. That applies to Forex trading too, which has become almost fully automated. There now exists software programs, trading systems and platforms that automatically and successfully trade Forex without any direct intervention of the trader. This has opened up an avenue where traders can profitably engage in Forex without having to spend so much time on research, trend-following, and studying. The Forex trading software offers the following advantages:
Take Emotion Out Of the Trading Equation
The most prevalent mistake in Forex trading is emotional trading. This is especially true among novices and new traders. When emotions and gut feelings come into play, many traders find that they are quitting wins too early when there are much more gains to be made, or exiting losses too late and holding on to non-performing trades. Automated Forex trading ensures that the trader sticks to the strategy and keeps emotions out of the trading equation.
Trading On Multiple Positions
It is difficult and very risky to manually trade from multiple positions at the same time. Automated trading makes it possible to safely and profitably enter into multiple, simultaneous trades. Additionally, the software enables and enhances mirror trading regardless of the timeframes or the diversity of the multiple markets involved.
Consistency
One factor that leads to failure by Forex traders is the lack of consistency. The ability to stick to a chosen strategy greatly affects the gains one may make. Automated trading provides consistency and, therefore, maximizes gains made while greatly eliminating risks and minimizing losses.
Trade Speeds
It goes without saying that trading software greatly improves and enhances speed of entry and exit into and from a trade. The software reacts instantly to even the smallest changes to the trading environment and makes changes that best improve the profit margin of the trader. And the best thing about this is that the changes can be implemented across multiple positions in an instant.
Backtesting
It is important for the trader to review the history of trades to gauge performances and chart the future. Backtesting refers to the review of historical data to determine the viability of the strategy used. The use of automated Forex trading software has made it so much easier for even novices to determine whether their expectations are being met and to make changes and adjustments for better future performance.
Shawn Sofo James has 7 years experience in the Financial Markets, for PRO Investment Bank as an Investment Analyst, before becoming a Forex trading expert in zForex, UK broker.
Tip: Be updated with the Latest Forex News if you want become a successful trader.
Article Source: http://EzineArticles.com/?expert=Shawn_Sofo_James
http://EzineArticles.com/?Why-Automatic-Forex-Trading-Software-Is-The-Best-Tool-For-Forex-Traders&id=7359055
Technological advancements have led to great strides in every sector of human life. That applies to Forex trading too, which has become almost fully automated. There now exists software programs, trading systems and platforms that automatically and successfully trade Forex without any direct intervention of the trader. This has opened up an avenue where traders can profitably engage in Forex without having to spend so much time on research, trend-following, and studying. The Forex trading software offers the following advantages:
Take Emotion Out Of the Trading Equation
The most prevalent mistake in Forex trading is emotional trading. This is especially true among novices and new traders. When emotions and gut feelings come into play, many traders find that they are quitting wins too early when there are much more gains to be made, or exiting losses too late and holding on to non-performing trades. Automated Forex trading ensures that the trader sticks to the strategy and keeps emotions out of the trading equation.
Trading On Multiple Positions
It is difficult and very risky to manually trade from multiple positions at the same time. Automated trading makes it possible to safely and profitably enter into multiple, simultaneous trades. Additionally, the software enables and enhances mirror trading regardless of the timeframes or the diversity of the multiple markets involved.
Consistency
One factor that leads to failure by Forex traders is the lack of consistency. The ability to stick to a chosen strategy greatly affects the gains one may make. Automated trading provides consistency and, therefore, maximizes gains made while greatly eliminating risks and minimizing losses.
Trade Speeds
It goes without saying that trading software greatly improves and enhances speed of entry and exit into and from a trade. The software reacts instantly to even the smallest changes to the trading environment and makes changes that best improve the profit margin of the trader. And the best thing about this is that the changes can be implemented across multiple positions in an instant.
Backtesting
It is important for the trader to review the history of trades to gauge performances and chart the future. Backtesting refers to the review of historical data to determine the viability of the strategy used. The use of automated Forex trading software has made it so much easier for even novices to determine whether their expectations are being met and to make changes and adjustments for better future performance.
Shawn Sofo James has 7 years experience in the Financial Markets, for PRO Investment Bank as an Investment Analyst, before becoming a Forex trading expert in zForex, UK broker.
Tip: Be updated with the Latest Forex News if you want become a successful trader.
Article Source: http://EzineArticles.com/?expert=Shawn_Sofo_James
http://EzineArticles.com/?Why-Automatic-Forex-Trading-Software-Is-The-Best-Tool-For-Forex-Traders&id=7359055
Tuesday, 6 November 2012
What Is EasyLanguage?
By Tim Spears
EasyLanguage, created more than 20 years ago by TradeStation Securities, is a programming language used for trading stocks, EFTs and similar such products. The language is used to create custom indicators for financial charts and to create algorithmic trading strategies for various markets.
EasyLanguage has several advantages over other similar programming languages. Unlike other languages used in the financial market trading sectors, such as FORTRAN, this language is easy to learn having been designed for use by traders without specialized computer and programming knowledge. Commands in the language are simple enough that someone not trained in computer programming would be able to figure out the purpose and function of a line of code with minimal training and perhaps only a reference book to use as a guide. The use of simple English instead of code means that companies using the language have to spend less time and resources on training their traders, which translates in the long run into greater profit.
Although the language was designed by TradeStation, other trading platforms quickly picked up on the language and began to support scripts written in it and to increase compatibility with scripts written by TradeStation. Other proprietary high-end automated trading platforms have even, to varying degrees, incorporated language elements similar to TradeStation's.
While it is possible for one to define one's own, unique functions within the language, it is not expected that most people will do this. In this way, the language functions as a logical programming language as opposed to a functional programming language.
Because it is so simple to learn, the language enjoys a fair amount of popularity among traders. As a result, a quick search on the internet will show that a multitude of tutorials and script depositories are available to those interested in learning how to use the language. In addition there are many communities and forums dedicated to the language, so help is never far away if one gets stuck trying to get the language to perform a needed function. There are also several books available to help those developers who often go into great detail with the language.
Another advantage that the language has is its longevity and compatibility. Because it has been around for over 20 years, the language is trusted within the financial community and has shown that it isn't going anywhere anytime soon. As a result, it has become widespread and many competitor languages, such as MultiCharts' own proprietary language PowerLanguage, have taken steps to make sure that it has some compatibility and the ability to interact with the venerable language.
Although the language is powerful, it has its flaws. Because the language was designed to be used by end-users that are not necessarily programmers, it can sometimes be difficult to get the language to perform tasks outside of its normal operating parameters. This can be overcome in some ways by various scripting techniques, but it is not a general programming language. In this way, the language's strength is also its own weakness.
As an avid article writer and also TradeStation trading enthusiast, Tim Spears has got an incomparable appreciation for the subtleties inside of changing financial market segments. Should you wish to discover how to recognize the very best TradeStation indicator options.
Article Source: http://EzineArticles.com/?expert=Tim_Spears
http://EzineArticles.com/?What-Is-EasyLanguage?&id=7246171
EasyLanguage, created more than 20 years ago by TradeStation Securities, is a programming language used for trading stocks, EFTs and similar such products. The language is used to create custom indicators for financial charts and to create algorithmic trading strategies for various markets.
EasyLanguage has several advantages over other similar programming languages. Unlike other languages used in the financial market trading sectors, such as FORTRAN, this language is easy to learn having been designed for use by traders without specialized computer and programming knowledge. Commands in the language are simple enough that someone not trained in computer programming would be able to figure out the purpose and function of a line of code with minimal training and perhaps only a reference book to use as a guide. The use of simple English instead of code means that companies using the language have to spend less time and resources on training their traders, which translates in the long run into greater profit.
Although the language was designed by TradeStation, other trading platforms quickly picked up on the language and began to support scripts written in it and to increase compatibility with scripts written by TradeStation. Other proprietary high-end automated trading platforms have even, to varying degrees, incorporated language elements similar to TradeStation's.
While it is possible for one to define one's own, unique functions within the language, it is not expected that most people will do this. In this way, the language functions as a logical programming language as opposed to a functional programming language.
Because it is so simple to learn, the language enjoys a fair amount of popularity among traders. As a result, a quick search on the internet will show that a multitude of tutorials and script depositories are available to those interested in learning how to use the language. In addition there are many communities and forums dedicated to the language, so help is never far away if one gets stuck trying to get the language to perform a needed function. There are also several books available to help those developers who often go into great detail with the language.
Another advantage that the language has is its longevity and compatibility. Because it has been around for over 20 years, the language is trusted within the financial community and has shown that it isn't going anywhere anytime soon. As a result, it has become widespread and many competitor languages, such as MultiCharts' own proprietary language PowerLanguage, have taken steps to make sure that it has some compatibility and the ability to interact with the venerable language.
Although the language is powerful, it has its flaws. Because the language was designed to be used by end-users that are not necessarily programmers, it can sometimes be difficult to get the language to perform tasks outside of its normal operating parameters. This can be overcome in some ways by various scripting techniques, but it is not a general programming language. In this way, the language's strength is also its own weakness.
As an avid article writer and also TradeStation trading enthusiast, Tim Spears has got an incomparable appreciation for the subtleties inside of changing financial market segments. Should you wish to discover how to recognize the very best TradeStation indicator options.
Article Source: http://EzineArticles.com/?expert=Tim_Spears
http://EzineArticles.com/?What-Is-EasyLanguage?&id=7246171
Sunday, 4 November 2012
Essential Forex Trading Lessons You Must Know
By Rimantas Petrauskas
There is no doubt that experience can be the best source of learning, where your own mistakes make you learn your craft and you eventually succeed. Forex trading is not as simple and easy as it seems, except for those who spend the necessary time doing the extensive research necessary and then abide by their trading discipline every time they trade. If reading books were the key to success in Forex, 90% of traders would be in profit rather than suffering the loss of much of the money they started off with.
Based on trading experience in the Forex market, there are some lessons that every trader must be aware of in order to curb his losses and let the flow of profits be more consistent.
1 - Always keep calm and never get overwhelmed by your emotions while trading, especially greed and fear, because they will most likely cause you to end up facing losses. The market always favors those who are patient, so do not close out your trades just after the market starts moving in the opposite direction or sit idly by waiting for the right price to enter your position.
2 - Avoid overtrading. You might overtrade just to recover the loss you recently incurred. Greed might entice you to trade to earn more if you enjoyed some profitable trades earlier. The consequences could be harsh if you keep on a losing streak and lose the money you already earned, thus leaving you frustrated and less-confident.
3 - Trading style varies from trader to trader, but trading in the U.S session can make you a decent profit in that the market moves in the same direction 80% of the time. Huge trading volume is the reason behind this as the European session and the U.S session merge, hence resulting in high volume and less choppiness.
4 - Try closing your open trades before data release of high importance since the market exhibits high volatility during that time and often moves in the opposite direction from where you think it would. It simply deceives traders, so totally relying on data releases might not benefit you.
5 - Don't trade against the trend. Going long in a bullish market will certainly earn you profits but if the price starts moving down, selling is not recommended. In fact you should buy more on dips until and unless the market totally changes its trend. The same holds true when the market is bearish; sell more on bounces and don't trade against the trend.
6 - If you follow candlestick patterns for trading, it's better not to trust them before the release of important data such as speeches and press conferences that can have a substantial impact on the market. Many traders close their positions at this time and it results in making deceiving candlesticks.
7 - If you think you should enter long on a certain currency pair, do not buy a huge lot at the initial point of entering. Making small, stair step buy lot entries with certain gaps in between can be much better as it mitigates the risk when you know that the market is really moving upwards. You could make your buy entries after every 10 points for example.
8 - Always go flat on Friday. Closing all your trades before the market closure on Friday can certainly avoid risks because the market might open with a gap in an unfavorable direction on Monday due to some news or events that comes out on the weekend.
These are some things you might not have known if you are a newbie or have been trading for some time, so try implementing these whenever you trade and you will certainly notice improved results.
You can make your Forex Trading easier with the help of trading software. To learn more please visit us at www.ea-coder.com
Article Source: http://EzineArticles.com/?expert=Rimantas_Petrauskas
http://EzineArticles.com/?Essential-Forex-Trading-Lessons-You-Must-Know&id=7329861
There is no doubt that experience can be the best source of learning, where your own mistakes make you learn your craft and you eventually succeed. Forex trading is not as simple and easy as it seems, except for those who spend the necessary time doing the extensive research necessary and then abide by their trading discipline every time they trade. If reading books were the key to success in Forex, 90% of traders would be in profit rather than suffering the loss of much of the money they started off with.
Based on trading experience in the Forex market, there are some lessons that every trader must be aware of in order to curb his losses and let the flow of profits be more consistent.
1 - Always keep calm and never get overwhelmed by your emotions while trading, especially greed and fear, because they will most likely cause you to end up facing losses. The market always favors those who are patient, so do not close out your trades just after the market starts moving in the opposite direction or sit idly by waiting for the right price to enter your position.
2 - Avoid overtrading. You might overtrade just to recover the loss you recently incurred. Greed might entice you to trade to earn more if you enjoyed some profitable trades earlier. The consequences could be harsh if you keep on a losing streak and lose the money you already earned, thus leaving you frustrated and less-confident.
3 - Trading style varies from trader to trader, but trading in the U.S session can make you a decent profit in that the market moves in the same direction 80% of the time. Huge trading volume is the reason behind this as the European session and the U.S session merge, hence resulting in high volume and less choppiness.
4 - Try closing your open trades before data release of high importance since the market exhibits high volatility during that time and often moves in the opposite direction from where you think it would. It simply deceives traders, so totally relying on data releases might not benefit you.
5 - Don't trade against the trend. Going long in a bullish market will certainly earn you profits but if the price starts moving down, selling is not recommended. In fact you should buy more on dips until and unless the market totally changes its trend. The same holds true when the market is bearish; sell more on bounces and don't trade against the trend.
6 - If you follow candlestick patterns for trading, it's better not to trust them before the release of important data such as speeches and press conferences that can have a substantial impact on the market. Many traders close their positions at this time and it results in making deceiving candlesticks.
7 - If you think you should enter long on a certain currency pair, do not buy a huge lot at the initial point of entering. Making small, stair step buy lot entries with certain gaps in between can be much better as it mitigates the risk when you know that the market is really moving upwards. You could make your buy entries after every 10 points for example.
8 - Always go flat on Friday. Closing all your trades before the market closure on Friday can certainly avoid risks because the market might open with a gap in an unfavorable direction on Monday due to some news or events that comes out on the weekend.
These are some things you might not have known if you are a newbie or have been trading for some time, so try implementing these whenever you trade and you will certainly notice improved results.
You can make your Forex Trading easier with the help of trading software. To learn more please visit us at www.ea-coder.com
Article Source: http://EzineArticles.com/?expert=Rimantas_Petrauskas
http://EzineArticles.com/?Essential-Forex-Trading-Lessons-You-Must-Know&id=7329861
Saturday, 3 November 2012
Forex Account Types
By Jack Seur
When people are talking about forex they are usually referring to electronic foreign exchange trading. The use of home software to trade currencies brought all sort of advantages and the obvious one is that the market is now open for all, financial firms and individuals. But there is a down side, the inexperienced trader is now exposed to this high risk market and the chance of losing money is great.
For that reason it is essential for the beginner trader to be aware of all the different accounts offered to him by the brokers.
Using the proper account can be the line that separates the earning traders from the bankrupt ones.
Demo account
If you want to start and trade forex and you haven't done it before then the demo account can be perfect for you. As a beginner trader you still don't know all the currencies trading features and the risks involved and a demo account is just the thing you need to in order to prevent losing money while getting some experience. A patient trader will wait until he profit some money in the demo and has confident in his trading strategy, only then he will invest money in a live account. Go crazy, make all your experiments and trials and try all sorts of strategies. Waste all your mistakes at the beginning, while it still doesn't cost you anything, that's what the demo account is for.
Don't be Irresponsible, take baby steps, when you feel ready move to the next step.
Micro, Mini or Standard Account
The sorts of account that are stated above usually have the same features but are distinguished in one very important thing and that is the minimum initial deposit. The minimum initial deposit can vary from 1,000$ to just 10$, depends on the broker you're dealing with. The purpose behind the different accounts is pretty much the same as the purpose behind the demo account; it can eliminate the trader's risk to minimum.
You can practice and experience in a mini or micro account, you can apply all of the regular strategies and you can still double your money (or lose it all), but using the mini account will limit your lose to almost nothing.
Polish your trading skills in the mini account and invest money according to your financial ability.
Managed Account
The last option is the manage account that allows you to sit back and relax while an account manager is doing all the work.
If you want someone else to trade for you have three options:
1. Get an account manager from one the many forex brokers and hand him your money for investment.
2. Use a service like ZuluTrade that allows you to choose an expert trader from their list of experts and calibrate your account so that the trades of the expert will be executed in your account as well.
3. Use algo trading. In algo trading you need to program a software to trade according to your trading strategy. Once you did that you can sit back, watch the results and make adjustments when necessary.
These are the accounts available for you at the forex brokers, choose yours carefully and have a safe and successful trading.
Content Editor and Forex Trader Compare BeForex - Track down your most wanted broker http://www.compare-beforex.com/
Article Source: http://EzineArticles.com/?expert=Jack_Seur
http://EzineArticles.com/?Forex-Account-Types&id=7045426
When people are talking about forex they are usually referring to electronic foreign exchange trading. The use of home software to trade currencies brought all sort of advantages and the obvious one is that the market is now open for all, financial firms and individuals. But there is a down side, the inexperienced trader is now exposed to this high risk market and the chance of losing money is great.
For that reason it is essential for the beginner trader to be aware of all the different accounts offered to him by the brokers.
Using the proper account can be the line that separates the earning traders from the bankrupt ones.
Demo account
If you want to start and trade forex and you haven't done it before then the demo account can be perfect for you. As a beginner trader you still don't know all the currencies trading features and the risks involved and a demo account is just the thing you need to in order to prevent losing money while getting some experience. A patient trader will wait until he profit some money in the demo and has confident in his trading strategy, only then he will invest money in a live account. Go crazy, make all your experiments and trials and try all sorts of strategies. Waste all your mistakes at the beginning, while it still doesn't cost you anything, that's what the demo account is for.
Don't be Irresponsible, take baby steps, when you feel ready move to the next step.
Micro, Mini or Standard Account
The sorts of account that are stated above usually have the same features but are distinguished in one very important thing and that is the minimum initial deposit. The minimum initial deposit can vary from 1,000$ to just 10$, depends on the broker you're dealing with. The purpose behind the different accounts is pretty much the same as the purpose behind the demo account; it can eliminate the trader's risk to minimum.
You can practice and experience in a mini or micro account, you can apply all of the regular strategies and you can still double your money (or lose it all), but using the mini account will limit your lose to almost nothing.
Polish your trading skills in the mini account and invest money according to your financial ability.
Managed Account
The last option is the manage account that allows you to sit back and relax while an account manager is doing all the work.
If you want someone else to trade for you have three options:
1. Get an account manager from one the many forex brokers and hand him your money for investment.
2. Use a service like ZuluTrade that allows you to choose an expert trader from their list of experts and calibrate your account so that the trades of the expert will be executed in your account as well.
3. Use algo trading. In algo trading you need to program a software to trade according to your trading strategy. Once you did that you can sit back, watch the results and make adjustments when necessary.
These are the accounts available for you at the forex brokers, choose yours carefully and have a safe and successful trading.
Content Editor and Forex Trader Compare BeForex - Track down your most wanted broker http://www.compare-beforex.com/
Article Source: http://EzineArticles.com/?expert=Jack_Seur
http://EzineArticles.com/?Forex-Account-Types&id=7045426
Friday, 2 November 2012
Truth About Forex Millionaires
By Marian Hlinka
Many people on the Internet these days are on the quest searching for forex millionaires. Other people just think that it is not possible to make millions trading forex market. So where is the truth?
The truth is that there are real forex millionaires in this world. Just one example for all: George Soros. He made not millions but billions on forex market back in 1992. Here is his story:
His career began since the establishment of the Quantum Fund in 1969 on Curacao. During the time of its existence, Quantum Fund conducted a large number of profitable speculative operations at Forex currency market. Just one example: on the spot market in 1996 only, the Quantum Fund received the profit equal to the annual income of McDonald's Corporation. But, the most money-making deal of George Soros is considered to be the currency speculations at the British pound sterling back in 1992, which within one month netted a profit of USD 2 billion. Thanks to such great success and the facts, by which it was caused by, George Soros soon got the reputation of "the man who broke the Bank of England."
But there are also ordinary people these days who can make millions on Forex market.
Good news is that even you can become one of them. But it takes a little time. Yes, there are some forex contest winners who turned 10 thousands into 100 thousand or million in a month or so, but that has nothing to do with real forex trading. They were just lucky, overtrading their demo account, risking all capital in one trade and so on. If they continue like that they would blow their account up very soon. Other question is: would they trade like that with real money or they own money? I do not think so.
There are no shortcuts, there is no holy grail, there are no magic indicators to make you millionaire in a speed of light, but if you employ a sound strategy, great money management, discipline, power of compounding and patience, you can turn even a very small amount of money (like couple of hundreds) to one million or more within 10 years. Or even sooner if you have bigger starting capital.
You do not even need to know how to trade forex market yourself. There is a simple way for you. You can simply auto copy forex trades of experienced traders. Their trades can automatically copy on your broker account and you will be just sitting and watching your account grow.
Are you ready to take 5 easy steps to become a forex millionaire? Read forex millionaire strategy
Article Source: http://EzineArticles.com/?expert=Marian_Hlinka
http://EzineArticles.com/?Truth-About-Forex-Millionaires&id=7319733
Many people on the Internet these days are on the quest searching for forex millionaires. Other people just think that it is not possible to make millions trading forex market. So where is the truth?
The truth is that there are real forex millionaires in this world. Just one example for all: George Soros. He made not millions but billions on forex market back in 1992. Here is his story:
His career began since the establishment of the Quantum Fund in 1969 on Curacao. During the time of its existence, Quantum Fund conducted a large number of profitable speculative operations at Forex currency market. Just one example: on the spot market in 1996 only, the Quantum Fund received the profit equal to the annual income of McDonald's Corporation. But, the most money-making deal of George Soros is considered to be the currency speculations at the British pound sterling back in 1992, which within one month netted a profit of USD 2 billion. Thanks to such great success and the facts, by which it was caused by, George Soros soon got the reputation of "the man who broke the Bank of England."
But there are also ordinary people these days who can make millions on Forex market.
Good news is that even you can become one of them. But it takes a little time. Yes, there are some forex contest winners who turned 10 thousands into 100 thousand or million in a month or so, but that has nothing to do with real forex trading. They were just lucky, overtrading their demo account, risking all capital in one trade and so on. If they continue like that they would blow their account up very soon. Other question is: would they trade like that with real money or they own money? I do not think so.
There are no shortcuts, there is no holy grail, there are no magic indicators to make you millionaire in a speed of light, but if you employ a sound strategy, great money management, discipline, power of compounding and patience, you can turn even a very small amount of money (like couple of hundreds) to one million or more within 10 years. Or even sooner if you have bigger starting capital.
You do not even need to know how to trade forex market yourself. There is a simple way for you. You can simply auto copy forex trades of experienced traders. Their trades can automatically copy on your broker account and you will be just sitting and watching your account grow.
Are you ready to take 5 easy steps to become a forex millionaire? Read forex millionaire strategy
Article Source: http://EzineArticles.com/?expert=Marian_Hlinka
http://EzineArticles.com/?Truth-About-Forex-Millionaires&id=7319733
Thursday, 1 November 2012
3 Things to Check When Trading Forex
By Paul W. Dean
When you trade Forex have you learned to out certain checks in place? There are financial checks that traders should make before entering a trade. By checking them, Forex traders can learn to improve their trading results.
What are these checks:
1. What direction is the currency pair you are trading moving?
2. Where is the overall momentum?
3. What do you use to enter the market?
1. What direction is the currency pair you are trading moving?
Most traders think they do this but they seldom have a list of items to check before entering. For example, if you trade during the US time frame you could check some of the following items: Dow Futures or other equity futures, the economic news that will be revealed during the time you are trading, how the markets were trading in Asia and London the night before and what the market is reacting to at the present. Your trade entry will be affected by all of these. Understanding how to read the market based on when you trade is crucial.
2. Where is the overall momentum?
First, I don't mean for you to add an indicator like RSI or MACD to your charts in order to read momentum. Even though RSI, for example, is considered a leading indicator it does not predict momentum in the next moment. Momentum is created when people with the most money act up on the market. As a Forex trader you need to be able to predict where the momentum in the market will be. You can learn to do this by following a few simple things. You don't need to be an economist but after a while, you will probably know more than most economists.
3. What do you use to enter the market?
If momentum is so important does the Forex trader just enter intuitively? The answer to that question is yes and no. Once you are practiced at reading momentum you will know when to enter and you may not need any indicator(s). However there are indicators that can create signals that give a clear and concise entry point once you have taken #1 and #2 above. One is The RSI Paint Indicator which is an RSI that locates divergence and reversal signals.
Trading Forex and learning about how to become a successful Forex trader is not complicated if you put certain checks in place that make you disciplined. Do these things and watch how you improve in your trading.
To learn Forex Paul Dean, the owner of You Learn Forex has developed a trading indicator using RSI, the Relative Strength Index. The RSI Paint Indicator to locate Reversal and Divergence signals on RSI.
He has written three eBooks: RSI Fundamentals: Beginning to Advanced, RSI Trading Examples Vol. 1, and RSI PRO:The Core Principles.
He has also created The RSI PRO Forex Trading Course and is the originator of The Dow Trade.
Visit the site to read more about trading Forex.
Article Source: http://EzineArticles.com/?expert=Paul_W._Dean
http://EzineArticles.com/?3-Things-to-Check-When-Trading-Forex&id=7233706
When you trade Forex have you learned to out certain checks in place? There are financial checks that traders should make before entering a trade. By checking them, Forex traders can learn to improve their trading results.
What are these checks:
1. What direction is the currency pair you are trading moving?
2. Where is the overall momentum?
3. What do you use to enter the market?
1. What direction is the currency pair you are trading moving?
Most traders think they do this but they seldom have a list of items to check before entering. For example, if you trade during the US time frame you could check some of the following items: Dow Futures or other equity futures, the economic news that will be revealed during the time you are trading, how the markets were trading in Asia and London the night before and what the market is reacting to at the present. Your trade entry will be affected by all of these. Understanding how to read the market based on when you trade is crucial.
2. Where is the overall momentum?
First, I don't mean for you to add an indicator like RSI or MACD to your charts in order to read momentum. Even though RSI, for example, is considered a leading indicator it does not predict momentum in the next moment. Momentum is created when people with the most money act up on the market. As a Forex trader you need to be able to predict where the momentum in the market will be. You can learn to do this by following a few simple things. You don't need to be an economist but after a while, you will probably know more than most economists.
3. What do you use to enter the market?
If momentum is so important does the Forex trader just enter intuitively? The answer to that question is yes and no. Once you are practiced at reading momentum you will know when to enter and you may not need any indicator(s). However there are indicators that can create signals that give a clear and concise entry point once you have taken #1 and #2 above. One is The RSI Paint Indicator which is an RSI that locates divergence and reversal signals.
Trading Forex and learning about how to become a successful Forex trader is not complicated if you put certain checks in place that make you disciplined. Do these things and watch how you improve in your trading.
To learn Forex Paul Dean, the owner of You Learn Forex has developed a trading indicator using RSI, the Relative Strength Index. The RSI Paint Indicator to locate Reversal and Divergence signals on RSI.
He has written three eBooks: RSI Fundamentals: Beginning to Advanced, RSI Trading Examples Vol. 1, and RSI PRO:The Core Principles.
He has also created The RSI PRO Forex Trading Course and is the originator of The Dow Trade.
Visit the site to read more about trading Forex.
Article Source: http://EzineArticles.com/?expert=Paul_W._Dean
http://EzineArticles.com/?3-Things-to-Check-When-Trading-Forex&id=7233706
Wednesday, 31 October 2012
Choosing a Reliable Spread Betting Account
By Jeremy Black
A spread betting account is one of the first things that any trader should think about before entering this form of financial investment. However, it is not an easy selection of account. The task of the traders is to choose an account in wisest way possible. This is because this will be their venue to earn profits. If they will not choose the right one for them, there is a high chance of losing money, rather than earning some.
With the foregoing, traders should think about five (5) things when choosing a reliable spread betting account. These are specifically about their legitimacy, range of markets, costs, as well as platforms and even customer support. This article will explain all of these aspects in the subsequent sections.
Legitimacy matters
The value of checking out several options for a spread betting account lies on the benefit of appreciating their legitimacy. This is because it matters to have an account from a legitimate provider. It is, in fact, a common sense. It is quite illogical to open an account from an illegitimate or dubious provider, which traders know that will only cause them some headaches.
Of course, legitimacy is not something that the account providers can prove though words. Legitimacy is from having a solid reputation and history.
Range of markets
On the other hand, another aspect that traders should ponder on when choosing the right spread betting account is the range of markets that they can play. This is because when a trader opens an account, it comes with a price. Hence, traders will be paying for the services that they can enjoy through the account. In this light, the account should be able to compensate for the cost through having a full range of markets to offer.
Costs of trading
Opening an account comes with a price. It is not free at all. Well, traders can open a trial account, but it has limited functionality and features. If traders are serious about this endeavor, then they do not have a choice, but to spend some money in opening an account. Of course, the cost of opening an account should never exceed the benefits and rewards that the traders are expecting from using it. Otherwise, there is no incentive at all for traders to spend for it.
Platforms and functionality
Fourthly, a reputable and reliable spread betting account offers an excellent platform that is functional. It should not be too complicated, to the point that the traders can no longer use it. Aside from that, traders should also choose the one that has the functions that they want to look.
Support and customer relations
Fifthly, but not the least, traders should also look into the customer relations and support of the spread betting account that they are going to open. This is for them to get the assistance that they want.
Visit IndependentInvestor.co.uk to learn more about spread betting and different accounts.
Article Source: http://EzineArticles.com/?expert=Jeremy_Black
http://EzineArticles.com/?Choosing-a-Reliable-Spread-Betting-Account&id=7327059
A spread betting account is one of the first things that any trader should think about before entering this form of financial investment. However, it is not an easy selection of account. The task of the traders is to choose an account in wisest way possible. This is because this will be their venue to earn profits. If they will not choose the right one for them, there is a high chance of losing money, rather than earning some.
With the foregoing, traders should think about five (5) things when choosing a reliable spread betting account. These are specifically about their legitimacy, range of markets, costs, as well as platforms and even customer support. This article will explain all of these aspects in the subsequent sections.
Legitimacy matters
The value of checking out several options for a spread betting account lies on the benefit of appreciating their legitimacy. This is because it matters to have an account from a legitimate provider. It is, in fact, a common sense. It is quite illogical to open an account from an illegitimate or dubious provider, which traders know that will only cause them some headaches.
Of course, legitimacy is not something that the account providers can prove though words. Legitimacy is from having a solid reputation and history.
Range of markets
On the other hand, another aspect that traders should ponder on when choosing the right spread betting account is the range of markets that they can play. This is because when a trader opens an account, it comes with a price. Hence, traders will be paying for the services that they can enjoy through the account. In this light, the account should be able to compensate for the cost through having a full range of markets to offer.
Costs of trading
Opening an account comes with a price. It is not free at all. Well, traders can open a trial account, but it has limited functionality and features. If traders are serious about this endeavor, then they do not have a choice, but to spend some money in opening an account. Of course, the cost of opening an account should never exceed the benefits and rewards that the traders are expecting from using it. Otherwise, there is no incentive at all for traders to spend for it.
Platforms and functionality
Fourthly, a reputable and reliable spread betting account offers an excellent platform that is functional. It should not be too complicated, to the point that the traders can no longer use it. Aside from that, traders should also choose the one that has the functions that they want to look.
Support and customer relations
Fifthly, but not the least, traders should also look into the customer relations and support of the spread betting account that they are going to open. This is for them to get the assistance that they want.
Visit IndependentInvestor.co.uk to learn more about spread betting and different accounts.
Article Source: http://EzineArticles.com/?expert=Jeremy_Black
http://EzineArticles.com/?Choosing-a-Reliable-Spread-Betting-Account&id=7327059
Tuesday, 30 October 2012
Getting Into the Day Trading Game
By Norman Rimluck
When choosing a path of a Trader, there will be different strategies one can focus on that will produce the best results. The main common schools of thought when deciding a path is should I be a Trader or Investor? Obviously there are different strategies that use different types of strategies and it's best to find one that is best suited towards your personality style.
We know someone choosing trading over being an investor definitely has a different time frame; this time frame is usually known as being much smaller then what a traditional investor looks at when making an investment. When a trader purchases an investment, his purchase is usually referred to as placing a trade as opposed to making an investment. The minor change as we know is such a small change in vocabulary that it's hardly worse even paying attention to, but the returns and how you go about placing a trade are huge. A trader is left with asking what's better. What works? What makes the most profit? Would I be better off with going with a more long-term approach? Isn't this considered day trading, I've heard nothing but negative things about losing all your saving from day trading.
Let us compare the two methods of trading over investing and hopefully we can offer some advice and suggestion to help you choose a strategy that's best suited for you.
There is a distinct difference between someone choosing to go into trading over someone who looks to investing as a better way to approach the market and making money. After all, isn't that we're all after? We want the financial freedom to do what we want when we want, while having the choice of where we choose to live while we go on these adventures of ours? OK, Sorry, I guess that was a tangent... Back to the topic at hand; the main difference over the two is the time frame and methodology used. Investing requires a much longer time frame than trading, anywhere from days, to weeks, even months to years. It's not been unheard of for people to hold their investments as even for an entire span of their life while passing it on into the wills. Trading on the other hand is more a purchase you make that day with the intention of holding onto it no longer until the end of the day. At the very max, a trader might hold it a few days and this is only if he fell that it's extremely profitable.
Even though the time frame is different, the general strategy of choosing the right thing to put your money into remains the same. It's pretty obvious you usually you want to select a good company that will not go bankrupt the next day you purchase it. You will also want to analyze the fundamentals of the companies, make sure it is in good financial health and has a competitive advantage relative to other companies in the industry. While they both may make money over time, a trader can make a lot more money in the long run, because he is taking advantage of the ups and downs, if he is doing it correctly, where the investor is in it for the long term, and rarely gets in and out of the market. Traders use a slight different analysis when choosing their investments that investors usually don't pay too much attention to. Their main tool is referred to as technical analysis. If you've ever been to a arcade and all the kids seem to line up to get their chance to play the big, shinny, noisy game, well a traders arsenal of technical analysis can closely compare.
On the other hand, an investor is one who buys and holds for the long term. People such as Warren Buffett and Peter Lynch are investors. Their stock selection is based more on the company's financial condition rather than the price momentum used by the traders. Investors focus on analyzing companies' balance sheets, income statements, and cash flow to determine if a company is worth investing in. Their main analysis is referred to as fundamental analysis.
Is all this too much to take in? We hope not. We wanted you to just get your toes wet with all the concepts someone going into trading has to be prepared for. In our next article, we'll go into a deeper look of what really separates technical analysis over fundamentals.
Learn more about the various aspects of the market at http://finance.yahoo.com/ and at https://www.fidelity.com/
Norman Rimluck has been an active trader in the markets for over 30 years and holds a MBA in Mechanical Engineering. He worked for over 20 years as an Engineer. He started looking into trading the Market with the use of [http://priceactiondaytrader.com/]Price Action after a good friend of his invited him out and gave him his first trading book. The book 'Trade the Markets,' which made him quit his job 2 years later and never look back. He just started his own website where he discusses various aspects of the market. You can read more by visiting http://priceactiondaytrader.com
Article Source: http://EzineArticles.com/?expert=Norman_Rimluck
http://EzineArticles.com/?Getting-Into-the-Day-Trading-Game&id=7306801
When choosing a path of a Trader, there will be different strategies one can focus on that will produce the best results. The main common schools of thought when deciding a path is should I be a Trader or Investor? Obviously there are different strategies that use different types of strategies and it's best to find one that is best suited towards your personality style.
We know someone choosing trading over being an investor definitely has a different time frame; this time frame is usually known as being much smaller then what a traditional investor looks at when making an investment. When a trader purchases an investment, his purchase is usually referred to as placing a trade as opposed to making an investment. The minor change as we know is such a small change in vocabulary that it's hardly worse even paying attention to, but the returns and how you go about placing a trade are huge. A trader is left with asking what's better. What works? What makes the most profit? Would I be better off with going with a more long-term approach? Isn't this considered day trading, I've heard nothing but negative things about losing all your saving from day trading.
Let us compare the two methods of trading over investing and hopefully we can offer some advice and suggestion to help you choose a strategy that's best suited for you.
There is a distinct difference between someone choosing to go into trading over someone who looks to investing as a better way to approach the market and making money. After all, isn't that we're all after? We want the financial freedom to do what we want when we want, while having the choice of where we choose to live while we go on these adventures of ours? OK, Sorry, I guess that was a tangent... Back to the topic at hand; the main difference over the two is the time frame and methodology used. Investing requires a much longer time frame than trading, anywhere from days, to weeks, even months to years. It's not been unheard of for people to hold their investments as even for an entire span of their life while passing it on into the wills. Trading on the other hand is more a purchase you make that day with the intention of holding onto it no longer until the end of the day. At the very max, a trader might hold it a few days and this is only if he fell that it's extremely profitable.
Even though the time frame is different, the general strategy of choosing the right thing to put your money into remains the same. It's pretty obvious you usually you want to select a good company that will not go bankrupt the next day you purchase it. You will also want to analyze the fundamentals of the companies, make sure it is in good financial health and has a competitive advantage relative to other companies in the industry. While they both may make money over time, a trader can make a lot more money in the long run, because he is taking advantage of the ups and downs, if he is doing it correctly, where the investor is in it for the long term, and rarely gets in and out of the market. Traders use a slight different analysis when choosing their investments that investors usually don't pay too much attention to. Their main tool is referred to as technical analysis. If you've ever been to a arcade and all the kids seem to line up to get their chance to play the big, shinny, noisy game, well a traders arsenal of technical analysis can closely compare.
On the other hand, an investor is one who buys and holds for the long term. People such as Warren Buffett and Peter Lynch are investors. Their stock selection is based more on the company's financial condition rather than the price momentum used by the traders. Investors focus on analyzing companies' balance sheets, income statements, and cash flow to determine if a company is worth investing in. Their main analysis is referred to as fundamental analysis.
Is all this too much to take in? We hope not. We wanted you to just get your toes wet with all the concepts someone going into trading has to be prepared for. In our next article, we'll go into a deeper look of what really separates technical analysis over fundamentals.
Learn more about the various aspects of the market at http://finance.yahoo.com/ and at https://www.fidelity.com/
Norman Rimluck has been an active trader in the markets for over 30 years and holds a MBA in Mechanical Engineering. He worked for over 20 years as an Engineer. He started looking into trading the Market with the use of [http://priceactiondaytrader.com/]Price Action after a good friend of his invited him out and gave him his first trading book. The book 'Trade the Markets,' which made him quit his job 2 years later and never look back. He just started his own website where he discusses various aspects of the market. You can read more by visiting http://priceactiondaytrader.com
Article Source: http://EzineArticles.com/?expert=Norman_Rimluck
http://EzineArticles.com/?Getting-Into-the-Day-Trading-Game&id=7306801
Monday, 29 October 2012
How to Be a Successful Trader in Spread Betting
By Bryan Rollins
Visit IndependentInvestor.co.uk to learn more about spread betting and how to be successful.
Article Source: http://EzineArticles.com/?expert=Bryan_Rollins
http://EzineArticles.com/?How-to-Be-a-Successful-Trader-in-Spread-Betting&id=7329369
There are so many things that traders can do in order to be successful in the world of financial spread betting. However, most of the tips and strategies out there are time-specific. In other words, they might be applicable to a certain instance, while they might also be inappropriate to use on a different case. It is in this light that this article will not talk about these at all. Instead, what this article will discuss are the general things that any trader can employ when trading. These are specifically on four (4) key things, which are about getting the best broker, doing what traders know, as well as having a plan or discipline and even knowing the right timing.
Get the best broker!
The first and foremost thing that any trader should do in order to be successful in this field of the financial spread betting is none other than, to look for the best broker. However, there is a dilemma in achieving this. If traders will look for the best one, then it will be extremely costly. Hence, they need to be ready for its price. After all, it is the best option available.
Nevertheless, it does not mean that traders needs to get the most expensive in order to have the best. As a matter of fact, there are some affordable options that have comparable services with those expensive ones. This means that traders can find accounts that will not compromise their finances. This can be in accordance to the features, functionality, platforms and many more.
Know what you do, do what you know!
Secondly, on the other hand, another rule to be successful in spread betting is for traders to know what they are doing and then do what they know. It is like being aware of what they are currently doing. This requires the presence of mind during the trading day. In other words, they must not lose their focus along the way. Aside from that, it is also about playing on the fields that they only know. It is alright to venture into something new once in a while. However, abruptly entering into something that traders are not familiar with is not advisable at all.
Have a plan and strict discipline!
Thirdly, traders should always have a plan before entering the world of financial spread betting. Aside from being the guide along the trading day, it also inculcates discipline to the traders. This is because whenever there is a plan, it reminds the trader to stick to it and never deviate. This is in order to finish the day with the result that they are expecting.
Enter or exit at the right time!
Fourthly, but not the least, some traders fail in spread betting because they were not able to know the right timing to enter or exit. Knowing this is, in fact, a key element in order to be successful here.
Visit IndependentInvestor.co.uk to learn more about spread betting and how to be successful.
Article Source: http://EzineArticles.com/?expert=Bryan_Rollins
http://EzineArticles.com/?How-to-Be-a-Successful-Trader-in-Spread-Betting&id=7329369