Sleeping With the Enemy

Many beginning Forex traders believe that they will be successful because they have read all the books. Not necessarily. Then there are those that foresee their success simply because they have had much practice. Again, not necessarily. The main enemy of the Forex Market for most newbies is not the lack of knowledge; neither is it the lack of practice, there is an even greater enemy of even the most experienced trader. Trust me; I know this for a fact.

Friends of mine, the greatest enemy you will have in Forex trading will be when you are battling against yourself; yes, that's right, yourself. I have discovered that the greatest enemy in Forex is against the inner emotions that every trader experiences from day to day. The worst enemy you are going to face in the very beginning is not going to be found hiding behind the walls of some global currency trading center, neither will it be lurking in some far country - the worst enemy is inside of you!

All experienced Forex traders will tell you that the most dangerous foe is hiding deep inside of you. That enemy is so powerful that you will be amazed how quickly it will wash away all of your carefully considered decision. Those emotional enemies that you need to fight off are Fear, Greed and Hope; these are the names of three beasts that will haunt and rob you of all economic gains in Forex.

The number 1 beast is Fear. He will tell you to sell near the bottom and buy near the top. He is the one that causes trades that don't make any sense whatsoever. His big sister is Greed. She isn't a bad lady, but she is a very domineering woman. She forces you to get out of the market prematurely. Sometimes she even causes you to forget your training altogether. Then there is their cousin, Hope. Hope is really a sweetheart, most times, but she will keep you involved in the trade until you lose everything. Fear, at times, may save you, but Hope may wreck you completely. Greed will NEVER make you rich!

So now that you know, I would like to encourage you to tame your inner emotions before seriously entering the Forex world. My advice is to get a GREAT education and an even better coach. Learn from some experienced trader(s) and be sure to follow their instructions. And above all, stay committed.

Happy trading.

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As always, happy trading. Mr. Brewer, Founder - NBC Exchange. Providing quality reviews, articles and writings on forex online.

What Is A Forward Contract

If you regularly utilise the services of a bank or foreign exchange broker, it is important for your personal or business finances to try to get the best deal on your foreign currency exchange rate. What happens if you find yourself keeping an eye on the markets and the exchange rate for the currency pair you generally trade, is looking favourable now? Wouldn`t it be great if you could ask you bank or broker to give you that exchange rate at some point in the future? Well you can and this is where a 'Forward Contract' comes into play.

How does this work in practice? In effect you are asking your bank or broker to honour the exchange rate at that particular point in time and to save it for you to use at some point in the future.When you advise your bank or broker that you wish to enter into a forward contract, you must stipulate a date when you want to complete the transaction. The benefit to entering into a forward contract is you know exactly what exchange rate you will get on a particular day. If the rate is favourable then this could mean making some significant savings. However, it is important to remember that the markets may fluctuate against you and that you are entering into a financial agreement. If you decide to pull out of the contract then you will be expected to meet the costs to the bank or broker. Furthermore, your bank or broker may ask for a deposit upon agreeing the contract and there may be a limit as to how far in the future the contract can be held open for.

A further type of forward contract is a 'drawdown forward contract'. With a forward draw down contract you can take a portion of funds at intervals throughout the contract. Each withdrawal is termed a 'forward drawdown'. With a forward drawdown you can take as small or large a portion of the funds as you require, however each withdrawal may be subject to a fee. As with the forward contract, there may be a deposit required upon set up.

Many institutions are now developing their own style of forward contracts with various features, however, they are generally variations on the aforementioned forward contract types. The most appropriate type of contract for the individual or business will depend upon their personal requirements.

Visit to see how we can save on your foreign currency exchange. Providing quality reviews, articles and writings on forex online.

Forex Trading and Forex White Label

Forex is a market where in buying and selling of different currencies are involved. Since it is a wide market and competition is high, you need a Forex white label program. This will allow you to build a brand name and maintain your presence in the market. You will have your own brand or logo. This is very essential to maintain your business even if you are in a market where competition is high. By having this kind of partner you can maximize all the functions and administrative support you need in trading.

There are many benefits you can get you engage in this kind of trading program. You can use the easy to operate trading technology and you can participate in the trading for 24 hours. It can also minimize the risk you can have. You can also enjoy the online real time reporting and automated trading system.

This program is very ideal for those who want to reach the international audience. The customers for this service are given the convenience of selecting different languages since trading platforms are available in different languages. Aside from this, customers are given a detailed and on time reports and advisories that are very beneficial for the business to succeed. Another thing these partners can offer to its customers is the extensive back office support. Thus, it allows users to concentrate more on increasing their profit and not on the generation of reports.

There are different types of platforms available in the market today and their services may vary. This service is ideal for financial services firms, trading firms and brokers and other companies that are into Forex trading tools and services. It will allow financial firms to operate trading online in a very effective way. This will also allow you to offer wide range of products to your clients conveniently and eventually increase your profit. In order to enjoy all the benefits, you need to use the right solution and service to cater your needs. With this program, users are also given the opportunity to customize trading solutions that will cater to a specific need and criteria such as margin and leverage requirements.

Thus, it allows you to create your own trading business under your own business name using a specific platform. There are different companies offering different types of business partnership services and their service features may vary from each other.

Would you like to know more about the Forex White Label? Visit us here. Providing quality reviews, articles and writings on forex online.

Teach Me Forex, The Carry Trade

Forex is the foreign exchange market and measures the relationship between currencies. A currency can be viewed as economic indicator of a countries economic strength. The forex market reflects the relationship between countries.

Traders all over the world look at these relationships and place trades that hope to capture the price movements between currencies. These traders are either long or are shorting the market. This ability to trade both directions without penalty is attractive for many traders.

Currencies are traded as pairs and each part of the pair represents a country. The USD/CAD currency pair shows the relationship between the US economy and the Canadian economy.

All commodities are bought and sold in US dollars. Because of this relationship the US dollar is the worlds reserve currency. Non reserve currencies will usually move in the opposite direction to the dollar. This inverse relationship can be exploited by currency traders.

Say the dollar devalues through excess money printing. Wealth is transferred from cash to assets that will hold their value. This protects the owners wealth. As the dollar declines the prices of commodities rise in relation to the number of dollars now needed to buy them. This allows you to trade by shorting the US dollar and by keeping your money safe by buying commodities.

Another way forex traders make money is on the difference between interest rates. This is called the "Carry Trade" and involves borrowing money from low interest rate countries and investing this borrowed money in a country with a higher bond yield. The difference between the bond yields are the profits on the trade.

As a private trader you do not have access to credit this cheap. You have to be able to borrow at the Libor, the London Interbank Offered Rate which is currently at 1.07%. This is only accessible by large finance companies. Without this access to cheap money it is should be impossible for the private trader to take advantage of this trade..

The good news is a private trader has a few different ways to capture the difference between bond yields. First you can use an exchange traded fund (ETF). The ETF is a fund that has been divided into shares and these shares are traded on the on the open market.

If you buy an ETF you will be paid a dividend payment for holding the ETF. Which comes from the difference between the bond yields. A trader could also expect capital growth on the ETF as the currencies value changes in relation to each other.

As money moves from the country with the lower bond yield to the higher bond yield country. This starts to increase the value of the currency in the higher bond rate country. This causes a trend in the currency pair.

Another way to take advantage of the difference between bond yields is to use a forex broker. You look at the bond yield charts to see who is paying the highest and lowest interest rates. Choose a currency pair that mirrors the high/low interest rate.

You would buy the currency pair if the first currency in the pair has a higher bond rate, You would sell if the first currency in the pair is the lower interest rate. You would use the 10 year bond yield to work out bond yields.

Example

AUD/JPY
2.72%/0.875% (10 year bond yields)

In the above example you would buy the AUD/JPY because the AUD has the strongest bond yield. If the % rates were the other way around you would sell the trade instead.

By using a forex broker you can earn the difference between the yields. Every time you hold a trade past 12 midnight you are either paid or you have a payment deducted from your trading account. Whether you receive money or not depends on the yields for the currency pair you are trading.

With this carry trade set up you are aiming to be paid the interest every day and also capture capital growth by trading with the trend. Which is trading with the flow of money.

I hope you found this useful and let the forex profits flow.

Learn how to be one of the 10% who make money trading forex with our forex tutorial. Providing quality reviews, articles and writings on forex online.

How to Invest in Managed Forex Accounts?

In the world of Forex investments, there are many ways to start operations in a real account. For example, you can operate his own capital, you can hire special services that provide signals and operate your own only the signals and can even pay a professional because you manage your account without you having direct contact with the market .

Many people prefer the famous managed accounts, since the operator does not fall on all the responsibility and physical or psychological pressure when operating.However, operators must take into account certain aspects to invest in managed accounts to do it correctly and make profits.

What are Forex managed accounts?

Managed accounts are known as managed accounts and Forex Managed Account .This account type is characterized as an account managed by a professional expert in Forex trading. In this case, the company or professional who will lead the account service charges for its offering earnings varies depending on each company. In simpler words, is a professional service where you commit your capital to third parties for surgery instead.

Managed accounts show large benefits, including good management of leverage, an issue that many operators do not yet know well. Using advanced technology and allows customers to engage in other activities without being aware of what happens in the market. Subsequently, the company will deliver its final report with results and will be free to withdraw your winnings at any time.

In these types of accounts offer gains from 4% to 6% per month.

How to open a managed account?

First:  You should investigate the company that you want to hire, make sure that there is a ghost, or a program of high yield investment, not a preferred financial and legally authorized by the entities that regulate them. It is even advisable to investigate several companies at the same time so you can work with more than one and to give security. 

For information about investment programs, high-performance, how to avoid Forex scams, visit the following link: http://whatis-forex.com/forex-education

Second: Determine how to allocate capital is to be managed by professionals.Remember "not putting all your eggs in one basket" so you are advised to divide the capital into parts and distribute it in different companies or different professionals so that they are given.

Third: Contact the company or companies and make sure what the contract agreed. In that conversation should answer all your questions and to clarify the terms of negotiation. As well as on the system should ask to withdraw their money and if there are penalties, fines and additional fees of any kind.

It still clear all your doubts, you must proceed to make the deposit and wait until time expires to start seeing results. These companies usually allow you to make bank deposits, paypal and others, but the most common and safe enough to open the managed account is by credit card. Then they usually your account with the company is linked to a real account bank in your country in your name or name of account holder, where he would withdraw profits and where your money when you want to.

Remember to give your capital to a company that does not know is a sensitive issue, and today there are many unscrupulous people take advantage of this type of business to defraud people. Just as there are inexperienced people who provide this service and who never achieve the results provided. Therefore, the importance of properly investigate whether it is the first time you open an account managed by professionals. It is advisable to search the web, the ranking or level of security that is the company you are thinking of hiring, for example, there are Web pages that show a clear list of which are reliable and which are not.

The operator must analyze, that if you use a managed account, tomorrow, the company could go bankrupt, disappear or have problems of any kind that threaten their money, and this is serious if the client uses the proceeds to pay fixed fees or if the money simply dependent milestone payments.

For this reason Forex University recommends that all those who wish to generate revenue in the Forex, investing in their education and learn to operate their own accounts as a business. After obtaining steady gains could use the services of a company to manage your account, but will their profits and not money that supports his family.

There are people who may not wish to learn not to waste time on that, but have a large economic stability that decide to take a managed account, however this is not the majority of cases.

Finally, do not forget to invest in Forex you should implement a system of diversification, where centralize all his capital in one place, whether it operates on its own account as a managed account.

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The Advantages/Benefits of Zulu Trade Auto-Trade

Zulu Trade's an innovative web-based platform for Forex trading which proposes free auto-trading for all the members who have registered with them. They offer a free platform for auto-trading which one can benefit from for their lives while they look after your dealings even when you are not present. 

Zulu Trade's been developed to permit automatic executions of the Forex trade signals. The trade robot takes care of the implementation of different trade signals which are presented by the numerous Forex signal suppliers within the market. Zulu Trade was established in 2007 and since then it has radically amplified its presence worldwide. Zulu Trade is presently headquartered @ Athens, Greece, & has many branch offices, like in New York, Shanghai & Hong Kong. Zulu Trade's registered over fifteen thousand active trading customers by means of their networking and is presently operating in over 183 countries. Furthermore, making use of Zulu Trade's auto-trade is free & simple. 

Benefits of Utilizing Zulu Trade Auto-Trade 

An Automated Forex Trading for Traders- Zulu Trade has been effectively designed to combine Forex trading online with certain social features which allow the trader to execute his/her trade easily. Furthermore, auto-trade permits the currency trader online to automatically copy preferred trades with the intention that he/she can easily benefit from other experts' tactics from the sixty Forex brokers globally. Zulu Trade lets auto-traders choose the desired signal provider and expert to follow. I'd like to mention here that the most excellent feature is that the transactions are auto-executed for free of charge once traders have selected their preferred signal providers.

 

Provides The Most Excellent User Interface- Zulu Trade offers the greatest trading interface. There's a page meant for the auto-traders to prepare & compile their preferred portfolio. Auto-traders can include numerous signal providers for auto-trading their Forex accounts. Also, you can configure several features on this user interface, like portfolio as well as numerous other factors from the selected signal providers. These include setting the risk limits, end loss targets, different multipliers, etc.

 

Risk Management Control For Free- One of the finest benefits of Zulu Trade's free auto-trade happens to be that they give helpful functions for risk control & money management. There is a tool titled "Margin-Call-o-Meter" on Zulu Trade which is well developed and protects an auto-trader from the consequences of a margin call. Tools such as this play a very vital role & therefore must never be ignored. The majority clients who've avoided this tool have landed up making huge loss because of high leverage.

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Successful Forex Trading: What You Need To Know

If you are looking for more information about the forex market, you have come to the right place. This article will give you the best information about the foreign exchange and the rates that it deals with. Don't be confused any longer, this is where you need to be to fulfill your need for knowledge.

Though it is best to begin with one currency pair and learn the market through it, you should plan to diversify as you build your comfort zone. You can get tunnel vision if you follow the same pair too long and feel that you know what it will do. You can easily find yourself in a losing position after an unexpected turn you didn't realize was coming. Begin to branch out so you can keep a wider perspective.

Trade in a consistent manner.  Stay with what you've already learned and know, and don't constantly wonder if there may be something better out there.  Contrary to some beliefs, trading is not about gambling, and you should not ever take uncalculated risks.  Instead, remember to trade methodically to avoid predictable, unnecessary losses.

Keep a detailed forex trading journal. Include the analysis that led you to take a specific position, but also include things like your emotions and actions at the time. This way you can look back and determine what behaviors make you a successful trader and what behaviors could be costing you money.
As a solid tip for the beginning Forex trader out there, never leverage yourself beyond 10:1. Around 7:1 is ideal. Anything beyond this is just too much of a risk for you to assume. Even when you begin to learn the marketplace, the most you should leverage yourself at is 50:1.

When trading with forex, going with the trend can work in your favor. If the trend is up, it's not time to sell. When a trend is down, you don't want to buy. Trends can help you to see what trades are proving successful among the masses. Trading against the trend can work at times, but it takes a lot more time, patience, and nerve.

When learning about Forex, you should not stop at material designed for beginners. This type of information will help you get started and understand the basics. Once you have gone through a sufficient amount of easy to understand material, you should move on to more complex material. Do not think you are ready to start trading after completing an easy course.

You should learn about fundamental analysis: this type of analysis is about about paying attention to the general economic and political situation of a country. This allows you to determine if this country's currency is a safe investment. Many factors influence fundamental analysis and you should have a good understanding of all of them.

If you had been confused about forex or just lacking the information you needed for your business information, this article should have fulfilled your knowledge. Now you can continue and apply this to your needs in the world. This proper education will get you much further than nonsensical information that can be found by any random person.

Get the best Forex Technical Analysis at Forex Trading

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