Can you really make money in Forex?
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You have for certain been looking into how the Forex market works and you have questions like if you can or not make money in Forex. Many web pages assure you that it is very easy to make money in the exchange market and they even tell you that you can make loads of money overnight, but this is not the way things works, allow me to explain:
Forex gives you hundreds of opportunities daily to make small and great amounts of money, but it can only be achieved if you are well instructed and you practice with a demo account before entering the market with real money. Just like any job you have in life, you must prepare in theory and in practice to reach success.
You can make a lot of money in Forex, if you apply strategies and do a technical analysis of every movement of the market, skills you acquire from a specialized education. You probably ask yourself if you need to make a considerable investment to make money, which comes to you do not need a great amount of money; it all depends on your investment capacity, which allows you to open an account that better fits such capacity.
Types of Accounts:
1. Micro Account: Opens with less than $2000. You may operate mini and micro lots.
2. Mini Account: Opens with $2001 to $20000. You may operate mini and micro lots.
3. Standard Account: Opens with more than $20000. You may only operate full lots.
Also, Forex allows you to open accounts and make money through leverage, which means that a broker, with solid finances, lends you money for you to operate in the market and this way get earnings from the differentials in the appreciation or depreciation of the operating currencies. Forex can become a risky activity when the leveraging takes novice traders to over leverage, because they get greedy and they want to make a fortune with little capital at hand. This way, from 2 or 3 operations that end up in losses, the trader loses all of his capital. This is why it is important to know how to manage money, risk and every operation correctly.
You may leverage from:
• 2:1 = give $1 you will get $2
• 10:1= give $1 you will get $10
• 100:1= give $1 you will get $100
• 200:1= give $1 you will get $200
• 400:1 = give $1 you will get $400
So, the amount of money that you can make depends on the number of pips you obtain and the size of the account that you opened. For this reason it is vital to be realistic on how much you can invest at first in relation with what you can make.
Also, the amount to lose depends on the number of pips lost and the size of the account. Remember that from the time an trader enters into a position, he loses because of the spread or differential from the brokers in each pair. But if you use good strategies and correct money and risk management techniques, this will not be a relevant factor.
It is even more important to be able to increase earnings in the winning operations and minimize the amount lost in those in which we lose money. This should be clear. With good money and risk management, a Forex trader can make money even in a strategy where he loses 6 out of 10 times. How? In the remaining 4, his earnings are higher than his losses in the 6 operations that ended up in loss.
The same way, a trader could lose money even winning in 8 out of 10 operations, following the same logic.
For this reason you will notice the first time that you enter the demo account, that when you take a position in the market, immediately it will show a “loss” in your money, which really is not a loss, but rather it is the commission that your broker charges from that moment for each position that you take in the market. In the demo accounts they add this commission for you to always have this in mind when getting a real account.
It is important to realize that you must look for a trustworthy broker, since unfortunately there are people that try to take advantage of others. For this, we recommend you to examine the history and background of the broker. Even though you may be able to select a broker from a variety of countries, you must make sure they are legally established. For example: in the USA, a broker must be registered with the CFTC (Commodities Futures Trading Commission), or be a member of the NFA (National Futures Association). You may also verify this with a Costumer Protection Office, depending on his country of origin and its IT laws.
To make money in Forex, it is important that you know it will not happen overnight, it will take a whole process for you to become an expert trader. In this money making market intervene probability and consistency. Success is measured with profitability, and it does not matter the amount of operations, but also perseverance to reach your set goals in this business. For example, constantly following a strategy and not searching every week or month a better strategy than the one before (a very common mistake among new traders).
You may also get long term or short term earnings, meaning that you may choose to make only 1 or 2 operations in a year to reach your goal, which is possible only if you use the correct strategies and receive constant education. You can make 10 or more operations a day, a week or a month, to reach the same goal and get earnings and vice versa.
The recommendation if you are new at this is to start with few operations, but strong ones, in longer periods of time, like daily.
You can make money in Forex if you:
• Receive the proper education and training.
• Learn to determine in the market when to enter into a position and more importantly when to leave, either with losses or earnings.
• Use the correct leverage offered by brokers and you are realist when thinking of possible earnings.
• Are patient. Patience to practice, as well as for waiting the correct settings to enter into a position, as well as waiting to see for the right time to reach your goal for earnings.
• Do not get obsessed with reaching your earnings goal in the first week.
• Accept losses as part of the “investment game”.
• Properly manage your emotions and the psychological aspect of trading.
The Forex University specializes in courses for beginners and more advanced traders, and teaches how to obtain earnings in a constant manner, managing Forex as a business. For more information, you may go to the following link:
http://www.udeforex.com/Cursos/Cursos-de-Forex.html
In short, it is possible to make money in Forex, but do not forget it requires: consistency, discipline, constant growth of our account, effort, time and study. Of course you will not become rich overnight; you will only be able to make enough money in the long run to considerably improve your quality of life. Remember that the reliability that you obtain monthly from your capital, you may not be able to find in any other type of investment.
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Advantages and disadvantages of operating in the foreign exchange market: Forex
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If you are thinking of investing your money in the Forex market is essential to know about the pros and cons of it. One of the main advantages and reasons why hundreds of people worldwide rely on this market is because it’s considered “the most liquid market in the world. This is because the market can absorb many large operations, compared with those who can absorb any other financial market. Proof of this is that daily movements are more than 3 trillion dollars in the Forex market.
Another very important factor is that due to the global economic crisis, the Forex market is in its best time to invest because they so clearly by the volatility in the foreign exchange crisis, leads to better profits for traders. These would be the 2 main advantages of investing in this market, but the greater risk that a trader can take in Forex, is to operate without knowing what they are doing, without receiving special education and believe this is a gambling game. But here are we are going to show many other market advantages and disadvantages, as ForexandPips.com believe it is important to be clear and honest with the traders and users before investing.
Advantages of Forex:
• It’s a liquid market: as I mentioned, Forex is a liquid market for the many large operations that are performed daily. More than a Trillion dollars are operated daily in the Forex Market.
• Access all day: It is available to operate 24 hours a day. From Monday to Friday.
• Easy accessibility: I can operate from anywhere in the world and in any location. It only needs an Internet connection. In other financial markets a physical location or person is needed to operate.
• No high fees or additional expenses: Here is a detailed explanation of this point: Transaction costs are much lower than other investment markets, so you should consider commissions to broker or intermediary companies to manage their capital, if appropriate. There are no fees for services. There are no additional costs of operating time, but you should know that if you want to be a successful trader, you must spend on your education and on a specialized course in Forex strategies.
• It is a transparent market: Due to the multi-day market movement, it is virtually impossible for market manipulation.
• There are no forced deadlines: Traders of other financial markets are constrained by having to comply with a particular extension in time. In the FOREX market, however, a position can remain open as long as the trader-investor deems necessary.
• It is a leveraged market: That is, you can take leverage when investing your money, which means that a broker with solid finances lends money for you investment so you can generate bigger profits. The leverage allows the trader to enter the FOREX market with only one hundredth of what he has invested.
Leverage is from:
• 2:1 = For $1 you get $2
• 10:1 = For $1 you get $10
• 100:1 = For $1 you get $100
• 200:1 = For $1 you get $200
• 400:1 = For $1 you get $400
• There are lots of free and paid courses to get educated: There are many experts’ traders on the web, which provide specialized education and even video demonstrations for learning to trade. You can also open a demo account for you to start operations before opening a Rea account with real money. In ForexandPips.com we strive to provide adequate education. We have free courses, forums, articles, virtual classrooms and other services for you to be a skilled trader to operate properly and getting steady gains. For more information please visit the following link:
http://forexandpips.com/products-services/fundamental-course
Disadvantages of Forex:
• The risk of choosing a inexperienced broker: On the web there are many unscrupulous people who are dedicated to defraud honest people. It is important when investing your money to have the support of a trusted broker; they usually must be properly registered, including some requests that the brokerage firms have made at least 100 successful operations. Also do not forget that in the United States, the broker must be registered with the CFTC, which means by its acronym in English (Commodities Futures Trading Commission – Committee on Trade in Goods Fixed Term) or become members of the NFA (National Futures Association – National Futures Association). You can also check with Consumer Protection Office, depending on your country of origin and cyber laws thereof.
• Leverage: As mentioned, you can take a leverage, which will allow you to enter the market with a larger capital, if the operations are successful, and use good strategies you can obtain better returns but if the opposite happens, you may lose a lot of your money. Yes, leverage is a double edged sword.
• Requires knowledge and time: If you don´t understand the forex market, you may enter without having the skills to trade and lose lots of money. If you manage to change and train yourself, this ceases to be a disadvantage. Also if you do not have enough time to sit at the computer to monitor market movements, you may end up losing more than you think.
http://forexandpips.com/products-services/signal-service
• You have a complex nature: the technical analysis techniques are complex as so is the implementation of certain strategies requires much training and education. The currency exchange rates are influenced by a variety of factors, which may fluctuate over time.
• Zero Sum Game: For every winner there is always a loser. Unfortunately there is always a loser for every winner. Sadly, most are on the losing side.
Being a bit more specific, there are two ways to invest your money in Forex, both have advantages and disadvantages, so you need to choose which best fits your needs, to avoid failures:
1. Operating one owns capital.
2. Giving capital to a company specialized intermediaries.
1. Operating own capital:
Advantages:
• You can devote yourself to a career as a Forex trader and expert.
• You can get unlimited income within their capabilities, if you use the best strategies.
• You can enter the market with a small investment.
Disadvantages:
• As a novice you can lose all your capital, not having a proper education.
• To become a skilled trader it may take more than 1 year for education to begin showing positive results.
• It requires dedication and time.
• You must invest in education and some capital.
• First operations may have losses.
2. Giving capital to a company specialized in Forex Returns or Funds.
Advantages:
• You do not need special skills and experience.
• The potential losses are lower because their capital is operated by experts in forex.
• You can forget about the management of emotions and psychology of the trader and not directly trade.
• Your capital can make big profits quickly.
Disadvantages:
• There are unscrupulous companies that engage in cheating people. You must be sure the company you trust.
• The company does not provide a guarantee of profits.
• Usually more capital is required to be operated by third parties. Maybe at least US$1,000
Remember that the Forex is a market full of opportunities but also risks, especially for inexperienced traders and those who are not disciplined in receiving education and investing time. It is very complex to traders in this market and currency volatility is very high, so the chances of losing all the money invested is very high for new entrants, but if you use the right strategies and several indicators simultaneously, you can get great profits.
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The Online Forex Trading Broker System Explained December 25th, 2009
Some brokers are highly popular people to their clients, but there are those that are not. Brokers may work for insurance companies, real state, and even companies which provide trading systems. They are well known people which many individuals can rely on whenever that would need help of some kind. But a broker system is different.
The Online forex trading broker system has a principal function of providing clients with trading platforms. Trading platform is known as the place to trade. There are also forex broker systems that offer training and programs which teach clients to invest money and how forex trading is being done.
The trainings provided by these broker systems help a lot of trade investors to lessen risks while maximizing profits. Investors can benefit a lot from these broker systems because they may also be able to accept forex advice, assistance, education, currency analysis, stock, and the future market. Some also provide trading ideas and daily picks from newsletters.
The ultimate objetctive of most forex broker systems is to make an investor successful. And this can only be accomplished with a system having experienced professional teachers and advisors who are able to give directional orientation and forex training.
Newbies of the trade should be acquainted with the fact that forex trading is a high risk investment. The currency market offers a lot of opportunity to gain huge amounts of profits but at the same time coupled with a lot of risks. Currency trading can give you a fortune in minutes, days and hours. But the sad truth is that it can also be lost just at the same time.
Currency speculation is not a simple task to do, and this is why traders should not forget to learn the trade first before making any real trade. An intensive forex trading course can help you learn all the in and outs of trading. The pros can provide you the needed learning experience before entering the real world of forex.
You can find an extensive forex trading course for a reasonable cost either online or in a traditional class. Look around, or you can ask around for a good trading course available.
Many broker systems also offer additional services to draw the attention of prospects and clients. Forex is considered as a complex game, which is why you need a forex broker system.
Get scrolling alerts and news for the typical currency trader. Federal Reserve’s decision about the interest rate is also important for traders, and a broker system is just the perfect place to find it. Professional traders often write newsletters that can be of great use by other forex traders, which will be able to find there information about technical and fundamental analysis. Set up alerts are sometimes provided to give traders certain ideas for them to make more money.
Broker systems are assigned by many individuals to buy and/or sell on their behalf. Make sure that the broker is registered as an FCM with the CFTC. FCM stands for futures commission merchant; and CFTC means commodity futures trading commission.
Before you can set up a broker system, you will need to open an account. You can find a lot of them online, but make sure that you choose one wisely. You must inquire about the fees being charged.
You can find some trusted brokers among friends and co-workers; ask about the broker’s information and the troubles that they encountered, if any.
Online forex broker systems provide diverse services, but they should particularly be quick in buying or selling and automatic execution. The ’spread’ should be clearly determined, whether variable or fixed.
Examine even the littlest thing before signing up for a forex broker system. The margin terms are also of extreme consideration. Ask how margins are calculated and margin requirements.
The broker system should be trustful and its ability as to performance should not be questionable. The trading software used by the trader is vital, that is why you should first see all the available options for you. Take advantage of free demos, this would help test the systems before making a decision.
Check all the policies of the forex broker system. Read particularly those in fine print; oftentimes it is the most important part that the investor fails to read.
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The Online Forex Trading Broker System Explained December 25th, 2009 | email this | digg it Leave your comment Posted by admin Tags:
Some brokers are highly popular people to their clients, but there are those that are not. Brokers may work for insurance companies, real state, and even companies which provide trading systems. They are well known people which many individuals can rely on whenever that would need help of some kind. But a broker system is different.
The Online forex trading broker system has a principal function of providing clients with trading platforms. Trading platform is known as the place to trade. There are also forex broker systems that offer training and programs which teach clients to invest money and how forex trading is being done.
The trainings provided by these broker systems help a lot of trade investors to lessen risks while maximizing profits. Investors can benefit a lot from these broker systems because they may also be able to accept forex advice, assistance, education, currency analysis, stock, and the future market. Some also provide trading ideas and daily picks from newsletters.
The ultimate objetctive of most forex broker systems is to make an investor successful. And this can only be accomplished with a system having experienced professional teachers and advisors who are able to give directional orientation and forex training.
Newbies of the trade should be acquainted with the fact that forex trading is a high risk investment. The currency market offers a lot of opportunity to gain huge amounts of profits but at the same time coupled with a lot of risks. Currency trading can give you a fortune in minutes, days and hours. But the sad truth is that it can also be lost just at the same time.
Currency speculation is not a simple task to do, and this is why traders should not forget to learn the trade first before making any real trade. An intensive forex trading course can help you learn all the in and outs of trading. The pros can provide you the needed learning experience before entering the real world of forex.
You can find an extensive forex trading course for a reasonable cost either online or in a traditional class. Look around, or you can ask around for a good trading course available.
Many broker systems also offer additional services to draw the attention of prospects and clients. Forex is considered as a complex game, which is why you need a forex broker system.
Get scrolling alerts and news for the typical currency trader. Federal Reserve’s decision about the interest rate is also important for traders, and a broker system is just the perfect place to find it. Professional traders often write newsletters that can be of great use by other forex traders, which will be able to find there information about technical and fundamental analysis. Set up alerts are sometimes provided to give traders certain ideas for them to make more money.
Broker systems are assigned by many individuals to buy and/or sell on their behalf. Make sure that the broker is registered as an FCM with the CFTC. FCM stands for futures commission merchant; and CFTC means commodity futures trading commission.
Before you can set up a broker system, you will need to open an account. You can find a lot of them online, but make sure that you choose one wisely. You must inquire about the fees being charged.
You can find some trusted brokers among friends and co-workers; ask about the broker’s information and the troubles that they encountered, if any.
Online forex broker systems provide diverse services, but they should particularly be quick in buying or selling and automatic execution. The ’spread’ should be clearly determined, whether variable or fixed.
Examine even the littlest thing before signing up for a forex broker system. The margin terms are also of extreme consideration. Ask how margins are calculated and margin requirements.
The broker system should be trustful and its ability as to performance should not be questionable. The trading software used by the trader is vital, that is why you should first see all the available options for you. Take advantage of free demos, this would help test the systems before making a decision.
Check all the policies of the forex broker system. Read particularly those in fine print; oftentimes it is the most important part that the investor fails to read.
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