AbleForex.com

AbleForex answers:

Its wishful thinking to imagine someone will give you a profitable strategy for free. No one gives away ways to make money on the market for free.

Even the strategies you pay money for may or may not work.

AbleForex answers:

Your best way to proceed into the Forex market is to be somewhat cautious and get a little knowledge on the mechanics, the risks and the idiosyncracies of the marketplace.

The biggest problem withthe Forex market is that the advent of electronic trading and the potential for attractive profits has made in way to easy for uneducated people to rush into the Forex market and lose their hard earned money before they even knew what happened to them.

The Forex market does involve risk, and one should never invest money that they cannot afford to lose. Fortunately we have the abvility to trade in practice accounts without risking any money until we have properly honed our trading skills.

The Forex currencies move quite quickly and frequently. There are successful traders that have the time, the discipline and the knowledge to be constantly monitoring their positions and make frequent trades throughout the day to capture profits and/or to prevent losses.

There are other Forex traders that inplement strategies that will lessen the risks associated with constant market movements with a hedged position.

These investors take a longer term view on their positions and are comfortable receiving an interest payment everyday, making small additional purchases and sales as the market does it’s dance and generating a comfortable monthly return on their positions.

I recommend to all my Forex colleagues to begin with a conservative approach and then if they want to move into more high frequency trading thay can do that later once they gain a bit more experience. What I find is that once I teach them a couple of conservative strategies they are quite comfortable continuing with this approach.

Good luck to you and I would be happy to send you some additional information.

Paul
pupp50@yahoo.com

AbleForex answers:

I am trading in Forex market in India with http://www.finexo.com/, which is a business partner of Denmark’s Saxo Bank, with its headquarters located in Düsseldorf, Germany with huge US currency and never ever encountered any problem.

Whatever I gain is credited in my Indian bank account through Finexo trading account. The tax is deducted at source and when profit is repatriated here the Indian government deducts it.

AbleForex answers:

Any trading can be profitable if you make the right decisions. Count on losing money starting out until you get the hang of it. From my experience as a day trader (stocks and options), you will have streaks of wins and streaks of losses. So, do not put all of your money on any particular trade. Only play with a portion of your available money. Let’s say that you only trade with 20% of your available funds. Do not use a margin account until you have a track record of making money. You can get into a lot of trouble with a margin account. Good luck.

AbleForex answers:

Some of the better currency trading sites are:

http://www.forex.com

http://www.fxcm.com

http://www.marketiva.com

Most of these companies allow you to start trading with around $250USD however you should probably start out with a free practise account until you learn how to trade profitably.

If you want to trade news, probably look out for interest rate decisions and non-farm payrolls

Hope this helps

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.

AbleForex answers:

I like the choices you provide.

Currencies are highly volatile, but usually trade within a predictable range, which minimizes risk to a point. The amount of margin you are willing to take on can increase both the risk and potential reward. The lack of commissions can be a plus, but the lack of assistance can be a minus.

Options are less risky, but you must balance yourself here. The price you pay is directly tied to the possibility that you will be able to exercise your option in the future. You are able to limit your risk to the price of the options you purchase, but you will likely pay commissions, which can keep you out of the money, even on a profitable trade.

Commodities are one of the fastest ways to lose money consistently. Commissions can be quite high with these, but patience can work to your advantage, if you are not just looking to make a quick strike.

Any of these choices can cause you to lose all of your money. For that reason, I would not recommend that you enter into any of these arenas unless and until you have the rest of your financial house in order. Be debt free, with adequate savings for emergencies, as well as your college funds and retirement funds in place. If you have an extra six figures lying around the house after that, then go for it.

Personally, I prefer a lower risk approach that does not require my constant attention. Having lost $60K in commodities over four months several years ago kind of soured me on high-risk investments. I’ve since learned how to make a large income from my efforts, and I let my money grow at a reasonable pace, sufficient to fund my future.

Good luck!

AbleForex answers:

For me I have tried Forex Killer and I am very impressed. It has made my forex trading so much easier and profitable. Overall the signals are profitable for me after using it for 3 months.

AbleForex answers:

Yes, it’s possible, but not with a couple of hundred dollars of starting capital. Think about it, for many professional traders, having a 50% profit on the year is considered a good year. If you start of with $200, and make 50% profit, you would have $100 profit. Is $100 enough for you to live off of? Not unless you live in a cave.

However, if you start off with $100,000 capital, and make 50% profit for the year, then you would end up with $50,000. Is that enough to live off of? Probably yes.

Yes, I know $100,000 is a lot of money. But you can start up with $5,000 and work your way up. You are still young. I would get a job and start saving, and on the side, continue to trade and research using a micro account. (Notice how I didn’t say demo account because demo accounts success do not translate to real account success). Anyways, once you know you can be profitable with real money, then you wouldn’t hesitate as much to put in $5000, or $10,000 or whatever you have saved up in your account.

Lots of people make great living as day traders. But it takes time and patience to get there. Hope this helps.

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!