Your Question About Forex Trading Charts

Posted November 1st, 2011 by AbleForex and filed in Q & A Forex Trading Strategies

Ken asks…

forex trading charts?

I am looking for some free software. Like you see on tv displaying all the stock market/forex trading figures. e.g. red and green values flashing all the time. Usually with people around shouting buy buy, sell sell kind of thing.

AbleForex answers:

Just sign up for a demo trading account with any forex brokers out there and you can get the charts you wanted.

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Your Question About Margin Fx Trading

Posted November 1st, 2011 by AbleForex and filed in Q & A Forex Trading Strategies

Mary asks…

In your opinion what is a better way to trade currencies for a living; spot-forex or currency options? Also…?

I am 18 years old and I have been practicing spot-forex trading for several months now with FX Club and I am quite good at it and have learned a lot about currency trading from my demo account and some books and internet article sites on currency & options trading. Its become my passion actually.

I also know something that actually is a secret to FX trading success; the trends are usually long term, lasting from several months to several years meaning you are best to trade for the long term on currency pairs to enjoy the ride of making money. You can’t do this with spot-FX because you are trading on margin and if a trading position is left open too long, you will be wiped out within so long.

What I would like to know is if currency options trading is a good way to trade currency by simple vanilla call & put options as I know that spot-FX is essentially a mugs game? Also is there anybody out there who trades currency options for a living at all? Also, what is an easy to use currency options trading brokerage that can be used by a UK based investor? Please help advise. Thanks.

P.S. Sorry my question is too long.

AbleForex answers:

If you want to trade forex, you need to trade futures. If you don’t have enough money you need to save the money while doing something else while learning more about forex and then trade futures. Once you are able to trade futures you could add options on futures if you wanted but you do not need to do that. Generally speaking successful option trading is more difficult than than trading futures or stocks. Options are never simple vanilla.

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Your Question About Forex Trading System

Posted November 1st, 2011 by AbleForex and filed in Q & A Forex Trading Strategies

Lizzie asks…

Resolved Question Show me another » Which is the fast (or fastest) forex trading system? It may be a software?

I want to know that which is the fast (or fastest) forex trading system?

It may be a software or web based system (Please provide links). But, please help me, which broker (or trading system) works faster?

I would be more thankful if you could guide me with your experience.

thanks in advance.

AbleForex answers:

If you are looking for the best forex software, visit this site’s category index.

 

Here you’ll find the best software that can help increase your trading profit and user friendly.

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Your Question About Forex News

Posted October 26th, 2011 by AbleForex and filed in Q & A Forex Trading Strategies

Maria asks…

Forex News Trading – Are you an Active News Trader who Tracks the Fundamental Release?

Do you recommend this strategy in the Asia-Pacific forex markets — Singapore, HK, Japan, Australia & NZ?

AbleForex answers:

No, I don’t trade news stories, nor do I trade with a leverage of more than 1:50

The reason is simple: Broker spreads increase dramatically when a news report comes out. So the chances of manipulation & ‘price spikes’ are much higher.

Besides, the market itself goes into a volatile whipsaw at news time. Your stops can be taken out, trends takes a U-turn, and more often than not, you’ll end up with unwanted losses.

Http://forex.ellsed.com

http://brokernightmare.ellsed.com

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Your Question About Margin Fx Brokers

Posted October 26th, 2011 by AbleForex and filed in Q & A Forex Trading Strategies

Daniel asks…

Buying futures on margin and demanding delivery?

I guess I am missing something, but if this is possible, the only risk remains the market risk – which is not quite a “risk”, considering this case.
What do I mean is this:

Take long position while on performance bond(margin). Do this about a few minutes until the expiration date or hedge, so that to eliminate the market risk(price movements). When the contract comes into power and your long position is open – then demand a physical delivery of the goods. It’s obvious from that point that if for example you have bought in margin 10:1 your profit is more than obvious.
I was thinking for similar case about traditional stocks, CFD, options, spots, swaps – but among such instruments “margin” is always a credit, and not a “deposit on good faith”.
Another thing I noticed is that 90% of the brokers don’t engage into physical delivery. Which means that even if my point is right, then one should find a serious futures broker( or pay 500k for membership at CBOT(Nymex) + all the bureaucracy).
Also, I am not sure if the clearing house will allow you to hedge in case when you intent to keep your position + I am not sure if they won’t require some ridiculous proofs that you are ready to handle the delivery(i.e. pay insurance + storage fee).
But in all honesty, I don’t care of physical goods, buying gold/fx futures will be fine. After all, for 2 years studying economics the only thing I have learned is that the only goal of the trader must be: making money, no matter if the party loses everything(…a more fun note for the weekend – though I am 100% serious saying this :) .

Well, I am even not intending to keep the question open for long time if there is some truth in it…but…

Thanks

AbleForex answers:

I’m not sure how you interpret what you mean when you say that you are going to make a guarenteed profit. How are you making a profit when you buy right before expiration? You leverage up with a margin account but if the price does not go up by expiration you are not going to make a profit (regardless of delivery charges or market timing).

There is not guarenteed profit that way otherwise other people who can take delivery would be doing it all the time!

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Your Question About Currency Trading

Posted October 26th, 2011 by AbleForex and filed in Q & A Forex Trading Strategies

Nancy asks…

Currency Trading?

I currently trade on the stock market but I am interested in currency trading. I would like to know if it is similar to trading stock in which you trade using an online broker and if so what brokers are the best to use with the lowest commission fees?

AbleForex answers:

Hi,

Currency trading is similar to stock trading and all technical and fundamental analysis is approcimately the same. You just have to know that curreny pairs always go up and down.

Usually forex brokers don’t charge comission fees. They gain from spread. You should find brokerage company with smallest spread.

 

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Your Question About Forex Trading Strategies That Work

Posted October 26th, 2011 by AbleForex and filed in Q & A Forex Trading Strategies

Lizzie asks…

Forex intraday Trading; Does anyone care to share his/her forex strategy that is working well in todays clima?

climate? I would like something you can trade on an hourly or ess time frame.

AbleForex answers:

As a 10+ year Forex trader, here is how I trade to make money…

If you want, you can also follow these steps. I’ve dumbed it down to the easiest, yet safest way to win in the Forex.

1) Open a live account at http://www.bmfn.com.au
2) Select AAAFx broker, and open MICRO account with 200:1 leverage.
3) Deposit at least $300 in your account to start.
4) “Add to Portfolio” the top 20 strategies at http://www.bmfn.com.au
5) Don’t add any strategy that makes less than 10 average pips per trade.
6) …when adding strategies, set maximum number of trades to 5, and…
7) …select lot size of 0.1 “mini” lots for each $1000 in your account.
8) It will trade automatically, following all those top 20 strategies.
9) Then sit back, relax and take a vacation as you make easy Forex money.

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Your Questions About Margin Fxcm Micro

Posted October 23rd, 2011 by AbleForex and filed in Q & A Forex Trading Strategies

Mark asks…

Does anyone use FXCM Micro as their forex broker?

I have 2 questions. Is anyone using FXCM Micro and is anyone making a living from trading micro lots ie: are you able to make weekly or monthly withdrawals? Their margin is attractive and would love to get to 250k multiple (currently at 10k) Any thoughts on FXCM Micro would be appreciated. Thanks

AbleForex answers:

I have an FXCM Micro account for demo purposes.

As far as I understand it you can withdraw your money as often as you like but keep in mind that there may be administrative fees associated with each withdrawal. So be mindful of your withdrawal frequency.

I enjoy the Micro account. The platform is intuitive and very easy to use. I would recommend FXCM for anyone looking for a Micro account.

As far as making a living goes I personally don’t withdraw money from my trading account as my trading methods dictate that my profits be “reinvested”.

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Your Question About Forex Trading System

Posted October 23rd, 2011 by AbleForex and filed in Q & A Forex Trading Strategies

David asks…

Which the best forex trading system available out there? and how to compare amongst them?

I want to put forex trading system in my trading, but many brokers offered so many systems and they claimed, their product is the best. Please can anybody help me?

AbleForex answers:

The best way to compare multiple systems is to read review websites like Forex Reviewers or Forex top ten.

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Your Question About Forex Trading Charts

Posted October 23rd, 2011 by AbleForex and filed in Q & A Forex Trading Strategies

William asks…

Why I can’t see live charts of forex trading?

Currently I am with forex.com brokers but since few days I can’t use their platform properly. I just can’t see the charts and already tried to solve it many different ways but nothing helped..Does anyone experienced same problems with any of platforms available?

AbleForex answers:

If you need access to real time charts, DailyFX has 6 free charts available http://www.dailyfx.com/charts/

The Marketscope chart listed on the page is the chart available inside FXCM’s FX Trading Station II platform.

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