Forexgen Trading Support: September 2008

Friday, September 26, 2008

Yahoo Currency Converters - Tips to Using | Forexgen

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

What is great about Yahoo is that it is not only search engine, but also an informational portal. One of the features Yahoo is offering is Yahoo Currency Converters.

This section of Yahoo is providing several useful features, among them:

simple currency converter (web form where you pick one currency and find out how much it costs in the items of other currency, by the way - Yahoo has a huge list of currencies to choose from, that is why you will not have problems for checking even the rare world currencies)
trading charts of USD against major currencies (Euro or Yen, by the way the charts are almost real time)
major currency cross rates (USD, Yen, Euro, Can $, UK pound, AU $ and Swiss Franc)

These Yahoo currency converters and other instruments provided by Yahoo can sometimes be a big helper. All Forex traders have currency rates and cross rates provided by the broker, BUT it is very important to point out that brokers are showing the results which can be "slightly different" - if you read your agreement with Forex broker you will find that issue somewhere for sure.

Why? Because Forex brokers have the legal right to provide you with their own currency data - they setup the trading kitchen for you.

Heck? Am I not on the interbank?!!

Most of the traders are not, most probably you are not on the interbank as well. Interbank is the virtual space of real market where the currencies are traded for their real price. And to be on the interbank you need to be at least market maker (this option costs from $50,000 and higher + many papers to sign). In all other cases Forex broker is your gateway to the market. And Forex broker is legally allowed to make profit from this tiny difference between real rates and the rates that they show. Surely this is not the only sorce of the profit for Forex brokers, but still..

ForexGen.com is an online trading service provider supplying a unique and individualized service to Forex traders worldwide. We are dedicated to absolutely provide the best online trading services in the Forex market.

List of Currencies of the World - Links to Top Resources | ForexGen

After having done the post on this blog about Yahoo Currency Converters we have received feedback with suggestions from our blog readers about additional information that they would like to see published here. One of the most frequently asked things was to publish here the list of currencies of the world.

We are always glad to provide our blog readers with more information and have started the research to publish here the list of quality resources with the mentioned information.

ForexGen now has a trading new client called MultiTerminal. The MultiTerminal is intended for simultaneous management of multiple accounts, for which is mostly helpful for those whom manage investors' accounts and for traders working with many accounts simultaneously.

Forex and ForexGen Confirmation

By registering on ForexGen, you create your ForexGen profile and you can go ahead and open as
many Demo accounts , and Live accounts as you need. All accounts can be created online and
managed under your ForexGen profile. You can mix between Mini, Standard, Pro, Premium and
No Dealing Desk accounts in one Profile. Instant Approval.

Day traders need to make fast executions and confirmations of the trade, so you must have a fast internet connection. They also need to receive and deliver quotes, news, and other pertinent market data. A fast internet connection allows you to make your day trading in a timely fashion.

Execution services are available online, and it comes in two types: the internet-based discount brokers and the online systems or the EDAT. The first type varies on how customer orders are executed, and confirmed. This causes delay in completing a trade. The EDAT enables the trader to contact specialists directly. This results to a much faster execution and confirmation of the orders.

Software platforms often used by the more serious ones because real time data are usually provided like stock ticker and quotes, market indices and averages, charting, market stories, and price alerts. Anyway you would need to make monthly payments.

Becoming a day trader is a simple thing. But in any case it requires dedication, time and effort. You will reap profits that you've never imagined, if you are able to put all of these things together.

ForexGen strives to give incomparable professional and individualized trading services.
As a professional online trading service, ForexGen provides several facilities for all kinds of traders

Forex Day Trading Course - How to Succeed in Day Trading | ForexGen

ForexGen provides a unique online trading experience based on our intelligent online Forex trading package, the ForexGen Trading Station, including the best online trading system.

The largest financial market is Forex trading. Day or night - the trade goes on. It offers a lot of opportunities. Why not join the day traders if you think you can do it. Once you decide to start to day trading, don’t expect to learn everything about it in an instant. You need to exert a lot of effort. Forex trading requires a lot of practice.

You can practice through simulated trading before using real money. Here you can incorporate all your trading techniques and see if they actually work. Don’t be a scared to lose a certain amount of money. But it doesn’t mean that you should not limit your losses. Most importantly, you should learn from your past losses.

A good trader should be disciplined. Make discipline a habit, and act in accord with trading systems/strategies. You can do your trade in a consistent and reliable manner this way. Certain situations require an individual to make decisions based on their pre-set criteria and parameters.

You should make it a point to habitually follow your trading system/plan. When you're making trading decisions, don’t let your emotions rule you. A day trader should always be disciplined, and once you attain your objective, leave the market first. Oftentimes people plunge in deeper because they are influenced by greed and fear.

There are also day traders who are quite reluctant to lose money. For instance your stock goes down, and you're still hoping that after some time it will rise again. And to your surprise, the share price goes further down. If only you were not reluctant to lose money, you could have sold it the first time its price went down, and prevent further loss.

ForexGen customer satisfaction is our major objective. To reach our business goals, we strive to put our client's goals in focus. We highly value our clients and always aim to exceed their expectations and cross the limitations encountered by the sophistication of the Forex trading industry.

All Currencies Foreign Exchange Rate Tools | ForexGen

ForexGen Introducing Brokers ,White Label and Money Manager holders are recognized as a strategic business partners. The main focus of our service is to satisfy our partner's needs in order to deal with a qualified service and gain a large income sharing plan.

Surely having a hand on the pulse of the currencies exchange rates is vitally crucial for every Forex trader. Basically this is from what the trader is making the money - from buying a currency at one price and selling it at another price - more profitable for the trader.

Due to this the importance of competent foreign exchange rate tools cannot be overestimated.

This can raise the question - then why using tools like this. One of the criteria was mentioned in the quoted post - your brokers are showing you THEIR currency exchange rates, not the ones that exist on the real internbank. Which means you are looking on the market with their eyes. Whereas it would be better to do that with your own eyes.

Another issue is that when choosing your trading platform now you can be more aware of what surprised to expect and what to ask from the platform provider - what type of data exactly they are showing and what is the gap. Because in some trading strategies when you need to match different sources of financial info the gap between all currencies foreign exchange rates that you get from the broker and another source (that can be another broker) can create the dangers to the success of your trading.

Do not trust recommendations | ForexGen

Even your best friend can be fooled. Scammers have a reserve of money to pay of for 6-12 months. Your friend can try the chance, get paid the percentage for a year (only the promised interest, of course) will recruit you and - bang, the bubble is out.

Recommendations are worth the trust if this company or team of Forex traders are giving profits for 2+ years. Plus if this is said by the person you do not know, this can be a fake guy or gal.

These are not all tips, we prepared more tips about what documents to check and where to do the due diligence on the company you are going to invest into. This info will be published in the next post on this blog. Check our Free Forex Trading Info RSS feed for updates or subscribe to it to get all info automatically.

Never trust profit charts or historical data - all this can be manipulated and/or falsified | ForexGen

You would never like to do investment in Forex trading team that is not successful. But there is a catch that investment Forex online scam gurus are using. They can show you the so called "data based on trading history" which is basically some Forex trading strategy re-interpreted back in time on the historical chart info.

The worst part of it is that this historic data can get "slightly optimized" and even if you are testing their trading strategy and see that it was giving great results - this can be wrong.

Never trust some charts of profits and historical records. They can be true, but they can be falsified. Are you ready to test your luck?

Best Forex Investment - Scam Proof Plan to See Forex Investment Profit | ForexGen

The worst part of it is that this historic data can get "slightly optimized" and even if you are testing their trading strategy and see that it was giving great results - this can be wrong.

Never trust some charts of profits and historical records. They can be true, but they can be falsified. Are you ready to test your luck?

Monday, September 22, 2008

Point-and-Figure Charts: Forex Charts That Show You The Money!|ForexGen Tips

ForexGen customer satisfaction is our major objective. To reach our business goals, we strive to put our client's goals in focus. We highly value our clients and always aim to exceed their expectations and cross the limitations encountered by the sophistication of the Forex trading industry.

Wouldn”t it be great if you could find a charting system that instead of focusing on minutes, half-hours, hours, days, and weeks, actually followed and tracked the value itself? Point-and-figure charts are charts that do precisely that: they follow the money.

Point-and-figure charts are charts that follow changes in prices, and not time. Many charts are set up on a time scale, and comparisons are then made between the price as it varies from hour to hour or day to day.

These charts are very different in that any column from a point-and-figure chart can represent any amount of time. There is no set amount of time for each figure. Movements take place only when the minimum determined price moves. If the value doesn”t change, no new markings appear on the chart.

Point-and-figure charts differ in several ways from other types of popular charting, but there are 3 major differences that set point-and-figure charts apart.
1. They have simple, well-defined trading rules
2. They eliminate the clutter of price reversals that are below a minimum box value
3. There is no time factor.

Point-and-figure charting was first credited to Charles Dow, who used them around the turn of the century to make a killing on the stock market. Because the technical aspects of point-and-figure were sound, this strategy was picked up for use in analyzing other markets, as well.

Another major difference between point-and-figure charting and some of its technical counterparts is that it has a relatively strict and simple system of buying and selling, so you don”t need to be a math whiz or rocket scientist to figure out when to do what. A “box” is a measurement of a price movement.

If you see a box of X’’s, the overall value went up. A box of O’’s means the overall value went down. When a box of X’’s has an X one higher than the last box’’s, it’’s time to buy. When a box of O’’s goes one below the last column of O’’s, then it’’s time to sell. There are variations, but that is the base system.

What’’s sometimes bizarre about business is when everyone gets caught up in a new system or trend and they”re so intent on adding to it and perfecting it that an old system that works stops getting used. Where’’s the common sense in that?

If you”re trading, you want to be able to keep track of the money. If there’’s a charting system that let’’s you follow the money, and make a profit, who gives a darn if it’’s trendy or not? Going back to common sense, point-and-figure charting is the one method that shows you the money, because it’’s the charting system that only moves with the money.

Learning Some Important Tips For Forex Trading | ForexGen Tips

For you to become a successful forex trader you need to know what forex trading is and how to successfully trade foreign-exchange. Sufficient knowledge is essential to foreign exchange trading. You can learn some strategies through on-line foreign exchange tutorials.

An on-line foreign exchange tutorial will explain how the foreign exchange market flows and will also explain the types of foreign-exchange orders that are available to you as a foreign exchange trader. It will also let you know about technical indicators and what they mean, the economic indicators you will need to be aware of and the various options and strategies that are available to you as a forex trader.

Joining the forex trading bandwagon with both feet? Here are some must-know tips on foreign exchange trading and mini-forex to help you stay afloat in the Foreign Exchange currency market.

1.Know your foreign-exchange trading market- educate yourself about the currencies that you trade. The more you understand about the country whose currency you are trading in the forex market, the more precisely you will be able to predict which way the money will move.

2.Practice makes perfect-but it’’s not the real world- practice forex trading accounts are ideal for learning how a particular trading account works but they are not the real world. Many experienced traders recommend starting off with a mini foreign exchange account to minimize your losses while you get acclimated.

3.Pick a forex trading system and stick with it- savvy forex traders will tell you that system is everything. It by system lets you automate your trades based on history, following the traditional peaks and valleys. Set up a system and live with it to make the most of your forex trading.

4.Keep your eye on the margin- margin trading is a great way to lose a lot of money quickly. Stay away from forex margin trading until you are sure you know what you are doing.

5.The only win that counts in foreign-exchange trading is the bottom line- in foreign exchange trading, the bottom line is how much money you made at the end of the day. Don”t count won or lost trades only dollars and cents.

The most essential aspect when it comes to forex trading is to educate yourself about it so that you understand how to trade and how to trade efficiently, successfully. The more you educate yourself with foreign exchange trading the more understanding you will have and the more success.

ForexGen serves both private and institutional clients. We have a strong commitment to maintain a long term relationship with our clients.

A Creative Approach to Trading Commodities|ForexGen Tips

To succeed as a futures trader, you need to think creatively about commodities. The story of Sam Brannan, California’’s first millionaire, serves as an excellent example:

At the beginning of the 1848 Gold Rush, Sam Brannan, who owned a general store in Sutter’’s Fort, discovered that John Sutter and James Marshall had discovered gold. Understandably, the discoverers wanted to keep the strike a secret. Brannan agreed, then quietly scoured northern California buying up every shovel, pick and pan he could find until he had cornered the market.

He then went around town yelling, “We found gold!” and the Gold Rush was on. Hundreds of people flocked to northern California, all needing shovels, picks and pans to search for gold. And there was Sam, the only source for hundreds of miles around! Sam Brannan never lifted a shovel, never swung a pick, never shifted a pan in the search for gold, but he became the first millionaire of the Gold Rush — selling shovels.

COMMODITIES PROFITS AND THE INTERNATIONAL APPROACH
There is often more than one way to profit from commodities. Money can be made not only by betting on the need for resources, but on the processing and transporting of those resources. Remember that futures trading is global. Creative thinking requires that you consider the need for resources in one part of the world and probable suppliers and processors who may be located in other parts of the world.

In thinking creatively about commodity futures markets, factor in the following and see where it leads you:
1. Population

We are at the start of what is expected to be the greatest explosion in population growth in human history. The United Nations estimates that world population will increase by 1 billion people per decade for the first five decades of the 21st century. That means that the number of people on our planet will increase from 6.5 billion today to 9 billion by 2050. Population growth has become exponential.

In the 19th century it took 130 years to add 1 billion lives to the planet. Barely 200 years later in the 21st century, it takes just 13 years. More people means greater demand for natural resources (i.e., commodities). Greater demand means rising commodity prices.

2. Urbanization

People need a place to live and are increasingly being lured to cities where the bulk of the world’’s jobs can be found. The exponential growth in population is being accompanied by the greatest increase in urban development the world has ever seen. In the early 20th century, less than 15 percent of the world’’s population lived in cities, according to United Nations statistics. In 2005, a full one-half of the world’’s population lived in cities. By 2030, the U.N. predicts that 60 percent of the world’’s people will be crowded into cities.

People in urban areas consume more natural resources than those in rural areas where life is more sustainable. As urban areas expand, more natural resources and industrial metals will be needed to provide the necessary infrastructure: houses, roads, buildings, cars, hospitals, schools, etc. Whereas cities may have been initially located near plentiful natural resources, the mega-cities of the future may require resources from across the globe.

3. Industrialization
In the 19th century, the first industrial revolution transformed Western Europe and North America. While industrialization has slowly been creeping across the globe during the past century, we are now poised for a second major industrial revolution in what are called the BRIC countries: Brazil, Russia, India and China. The need for natural resources in these countries is enormous and rising fast, pushing up commodity prices as demand rises.

Over the next few decades, China is expected to become the world’’s largest consumer of commodities. Of total world production in 2004, China used one-half the cement; one-third of the steel; one-quarter of the copper and one-fifth of the aluminum. China was also second only to America in oil consumption.

Forex Trend Trading: The Early Bird Gets the Cash

Trend trading is where the big money is in the Forex market. While there is money to be made in counter-trending markets, there is only so much that can be made when the market is essentially moving sideways.

Trading when the market trends is where there is the opportunity to make (and if you”re on the wrong side without a stop-loss, possibly lose) major money.

A market goes into a trend anytime there are more buyers than sellers or more sellers than buyers over a prolonged period of time. This trend can be with prices going up (more buyers than sellers) or down (more sellers than buyers). There is money to be made regardless of which way the trend goes, since all trading is done with pairs.

Figuring out the best way to trade trends involves knowing extensive technical analysis, so having a proven and profitable trading system helps immensely. Without a prove and profitable trading system, it’’s very unlikely that over the long run, you will profit from Forex trend trading.

While there are all sorts of technical tools for analyzing trades, the simplest way to spot a trend, or what might be the beginning of a trend, is to watch and see if each time period’’s high keeps getting higher, indicating the market is steadily trending up in price, or if each period’’s low continues to get lower, indicating a downward trend in price.

If you decide to use bands to help your trend trading, remember that a basic rule when using bands is to wait and see when the high price penetrates the upper band. This is your signal that an upward trend is about to start. You want to buy when that price penetrates the upper band and go long, with a trailing stop loss. There’’s a good chance the market will make an upward trend that a long position can profit from.

When the price penetrates the lowest band of your corridor, you want to sell and go short, watching the market for any confirmations on any further trends, counter-trends, or pivot points that indicate a trend reversal.

The basic goal of trend trading strategies is always the same. While you don”t want to be the first to test the market, once a market trend reveals itself: join the move early!

Then hold your position, making as much money as possible, until the trend reverses and then get out. This is where using a trailing stop loss can help maximize the profits you earn from any market movement.

Trend trading is where the big money is at, and recognizing and getting in on trends early will make you a very happy (and wealthy) trader in the Forex market.

ForexGen.com is an online trading service provider supplying a unique and individualized service to Forex traders worldwide. We are dedicated to absolutely provide the best online trading services in the Forex market.

Thursday, September 11, 2008

Trade Forex With ForexGen

With ForexGen all of this is done in a clear, simple and concise manner to improve your Forex entries and exits.

ForexGen Academy will take you through the steps to creating high probability FX trades, using Charts, Trend lines, Support & Resistance and combining them so you have a clear picture of price, time, volume and the market expectations.

This Academy assumes you have a basic understanding of Technical Analysis and is specifically aimed at showing you "How To" rather than explanations and definitions. There are four internal "hands-on" demonstration movies.

The fourth is an exercise in the "Hard Right Edge" Decisions you need to make. Whether you are an intraday Trader or a Swing Trader, this course is designed to show you proper use of Technical Analysis without the hype…

You can open live account and Download our platform

Forexgen Trading Support