2012-03-29
Forex trading
Forex information are listed as bellow. Currency brokers make their profit through these differences of ‘bid & ask’ price and this is how they manage to provide their services to individual investors without charging them commission fees. If you are new to trading it makes sense to deal in the more popular currencies. There are two main reasons for this. Firstly you do not want to be left with a currency where there is little interest and you may have difficulty selling. Secondly the spread between the bid/ask prices is likely to be narrower, making it easier to make a profit.
Trading Gold with the Best Gold Trading Platforms
Gold trading has attracted more and more traders because the price of gold has been constantly increasing (although there are fluctuations in certain period, it does not stop the overall increasing trend) for the past two decades. Many savvy investors use gold as a “safe haven” for offsetting the impact of potential losses in other financial markets such as stock market and futures market.
I have written an article that introduces types of gold trading for people who want to try hands in gold trading; today I’d like to introduce some best gold trading platforms for traders.
Turbo Meta is heavily invested MT4 trading software developed by IKON Group. It is simple, elegant and effective to use. The friendly interface allows traders and investors to navigate effectively around the platform. Gold traders are able to enjoy fast execution, 24 hours live trading, various orders etc.
Best Gold Trading Platforms No.4: IKON Prodigy
IKON Prodigy is a reliable and user friendly platform developed by IKON Group; The unique internal email system, the easy order placement, the real times financial news, and the user friendly interface can make gold trading be a real joy. By the way, IKON provides forex demo account for traders to practice gold trading, which is really beneficial to gold traders.
http://www.ikonfx.com/forexblog/trading-gold-with-the-best-gold-trading-platforms/
2012-03-28
Starting in Forex Trading with Currency Pairs
To start trading on forex, one must first learn how to read forex quotes. Foreign exchange quotes are always listed in pairs (e.g. USD/JPY 109.2): the first listed currency is known as the base currency with a constant value of 1 unit; while the currency listed in the second is known as counter. In our given example, USD/JPY 109.2 means a dollar of United States Dollar is equal to 109.2 Japanese Yen. In other words, the quote shows the relative value of one currency compare to the other. It means the value USD had been increased when USD/JPY quote goes up
Tips Teaching You How to Avoid Forex Scams When Choosing a Forex Trading Broker
If you are an experienced forex trader, you are certain to know the importance of forex trading brokers. Good forex trading brokers are able to provide forex traders with reliable trading environment in which traders’ account information will never be leaked out; they are also able to provide traders with relatively trustable analysis, comprehensive services etc. But it is not that easy to find a reliable forex trading broker. I am sure you have heard of forex scam? So before choosing right forex trading brokers, traders need to learn how to avoid scams when choosing a forex trading broker.
The first and foremost thing when choosing forex trading broker is to find highly regulated brokers. A highly regulated broker like IKON can ensure the security of traders’ funds and provide traders with safe trading environment; thus, choosing a regulated forex broker is an effective way to avoid forex scam.
Most reputable forex trading brokers provide free demo account service to forex traders, which are always reliable to use; but some forex frauds cannot provide free demo account to traders because their goal is cheating money out of forex traders but not to offer forex traders what they want. If a forex trader meets a so-called forex trading broker who urges traders to deposit money into an account without providing favorable service and demo account practice, then forex traders should take a second thought.
Here is the video
2012-03-27
Things you should know in Forex
Forex trading system: Top traders have a Forex trading system. They have the discipline to follow it rigorously, because they know that only the trades that are signaled by their system have a greater rate of success.
Price behavior: They have incorporated price behavior into their trading systems. They know price action has the last word.
Money management: Avoiding the risk of ruin is a primary subject to the best traders. After all, you cannot succeed without funds in your trading account.
Trading psychology: They are aware of every psychological issue that affects the decisions made by traders. They have accepted the fact that every individual trade has two probable outcomes, not just the winning side.
These are, among others, the most important factors that influence the success rate of Forex traders.
Price behavior: They have incorporated price behavior into their trading systems. They know price action has the last word.
Money management: Avoiding the risk of ruin is a primary subject to the best traders. After all, you cannot succeed without funds in your trading account.
Trading psychology: They are aware of every psychological issue that affects the decisions made by traders. They have accepted the fact that every individual trade has two probable outcomes, not just the winning side.
These are, among others, the most important factors that influence the success rate of Forex traders.
10 Forex Tips Telling You How to Succeed in Forex Trading
Forex trading is popular among investors because it provides potential of making good money to forex traders. But not everybody can make good money in forex trading; forex traders need to know some helpful forex tips in order to get more possibility to succeed in forex trading. Today, I will list some forex tips for your reference.
Forex tip No.1: choose a reliable broker
The first and most important thing for forex traders who want to make money in forex trading is choosing a reliable forex broker. I have mentioned a couple of times that a reliable forex broker like IKON can provide forex traders with reliable and safe trading environment, real time prices and super services etc. Choosing a reputable forex broker is the most important thing in forex trading.
Forex tip No. 2: making a trading plan
Trading without a plan is like a ship sailing without direction. Thus, forex traders need to make a detailed forex trading plan before they trade for real. Of course, it is essential for forex traders to make research before they make forex trading plan.
Forex tip No. 3: know what you want from forex market
Some forex traders trade forex without knowing what they want from forex market, which is not good. Traders should have their own goals in forex trading. A trader trades without goals tends to have no motivations. So making goals for forex trading is important in forex trading.
Read more
2012-03-26
Forex Education
Let’s introduce some Forex information. Chinese premier Wen JIabao said here Sunday that China’s financial institutions have generally increased their strength, profitability and risk-resisting ability, and the financial system as a whole is sound and safe in face of the international financial crisis.
He said that the world economic situation has had dramatic changes this year, the United States’ sub-prime crisis has been deteriorating and is having an increasingly serious negative impact on the world’s financial market and the world economy as a whole.
http://laughforextrade.wordpress.com/2012/03/27/forex-education-4/
Forex Tips Telling You How to Manage Money in Forex Trading
There are phenomena that a certain proportion of forex traders are pretty good at forex trading at first, but they finally lose. There is an important reason: they failed to manage their money properly. Money management is an important factor if Forex traders want to succeed in trading. Without proper money management, traders tend to bear losses. Then here is the question: how to manage money in forex trading in order to get the odds in your favor? There are several tips for your reference.
Tip No.1: trading with affordable funds
Putting funds that traders cannot afford to lose at risk is never wise in forex trading. I have mentioned that traders should not regard forex trading as gambling, so do not risk funds that traders are not affordable. Before forex trading, it is better for forex traders to make a money investment plan first. In this plan, forex traders should list the total amount of money he is able to invest in forex market; how much they can invest in every trade; how much losses he can afford etc.
Tip No.2: learn to minimize losses as much as possible
What I meant is that forex traders should set stop losses in order to avoid unpredictable losses. In forex trading, in order to get profit, traders should first know how to control losses. Some successful forex traders always set stop losses first before every trade in order to minimize the potential losses.
Read more
China’s Financial System “sound and safe”
Let’s introduce some forex information. Under multiple negative factors, both international and domestic, China has reacted actively and properly, made efforts to improve the predictability, pertinence and flexibility of macro-economic control policies, and timely solved outstanding problems in economic development.
As a result, the country’s economy has maintained its momentum of smooth and rapid development, wen said.
Generally speaking, China’s economic foundations have not changed and the economy is developing towards the preset macro control targets, said the Premier.
“we have full confidence to the world when a big country with a population of 1.3 billion is able to maintain a lasting, smooth and fast economic development.” He said.
Simple Steps to Get Started in Forex Online Trading for Forex Beginners
Forex online trading is quite popular among forex traders because it offers great flexibility for Forex traders when they want to participate in the market. For forex beginners who want to rush into this promising market, the first and foremost thing they need to do is getting started in forex online trading. Then is the question: how to get started in forex online trading? As a matter of fact, getting started in forex online trading is not that difficult. Forex beginners should follow several simple steps stated below:
Step No.1 in starting forex online trading: getting the help of a reliable forex broker
Why do I mention that forex traders should choose a reliable broker? If you ask experienced forex traders, they will tell you that a good forex broker is able to provide such things as reliable platforms, helpful tools and super services that can protect Forex traders from scam and provide great security of their fund.
Step No.2 in starting forex online trading: figuring out currency pairs forex traders want to trade
In order to find the most suitable currency pairs for forex online trading, forex beginners first should know what currency pairs Forex brokers can provide and which can hep them maximize their profits. There are two currencies involved in one currency pair, which includes one currency you are purchasing and the other you are selling. For example, if a forex trader is trading EUR for USD, then the currency pair is EUR/USD and USD is purchased by the trader and EUR is sold simultaneously. Moreover, there are some most traded currency pairs that are traded in forex market such as USD/CHF, USD/JPY. For forex beginners, it is better for them to trade the most traded currency pairs in forex online trading.
Read more
http://www.ikonfx.com/forexblog/simple-steps-to-get-started-in-forex-online-trading-for-forex-beginners/
2012-03-23
Why Choose a Regulated Forex Broker?
When traders try to decide which Forex broker to choose from, they face many problems. What kinds of execution orders do the trading platforms offer? What trading spreads do the Forex brokers offer? However, the predominant question should be, is the Forex broker regulated or not?
The regulated Forex broker is a member of the regulated financial authority, which means that their corporate activities are checked and they comply with strict rules set out by the regulatory body. A regulated Forex broker needs to meet a minimum set of requirements, including maintaining appropriate financial assets, and adhering to strict working standards and procedures set out by the authority. Most importantly, the regulated Forex brokers are required to maintain transparency in their financial records. Failure to submit financial reports can result in fines or termination of membership.
The Asian Development Bank
Let’s introduce some forex information. Although by definition the bank is a lender to governments and government entities, it also provides direct assistance to private enterprises and has also participated as a liquidity enhancer and best practice enabler in the private sectors of regional member countries. It is conceivable that once all of Asia-Pacific reaches a certain level of living standard, the bank will be wound down or reconfigured to operate as a commercial enterprise.
When traders try to decide which Forex broker to choose from, they face many problems. What kinds of execution orders do the trading platforms offer? What trading spreads do the Forex brokers offer? However, the predominant question should be, is the Forex broker regulated or not?
The regulated Forex broker is a member of the regulated financial authority, which means that their corporate activities are checked and they comply with strict rules set out by the regulatory body. A regulated Forex broker needs to meet a minimum set of requirements, including maintaining appropriate financial assets, and adhering to strict working standards and procedures set out by the authority. Most importantly, the regulated Forex brokers are required to maintain transparency in their financial records. Failure to submit financial reports can result in fines or termination of membership.
2012-03-22
Forex Education
Let’s introduce some forex knowledge. Member states with balance of payment problems, which countries earn and/or are able to borrow from other official lenders and what countries must spend to operate, including to cover the cost of importing basic goods and services. In return, countries are usually required to launch certain reforms. For example, nations with severe budget deficits, rampant inflation, strict price controls, or significantly over-valued or under-valued currencies run the risk of facing balance of payment crisis. Thus, the structural adjustment programs are at least ostensibly intended to ensure that the IMF is actually helping to prevent financial crisis rather than merely funding financial recklessness.
How Many Types of Forex Indicators Forex Traders Use
Forex Indicators, put simply, are used to tell traders how to follow the trend and when to take profits in forex market. Forex indicators try to pinpoint price data and market trend. Using an indicator together with various other market analysis simultaneously is a good way to get profits from forex market as much as possible and avoid unnecessary losses caused by the market volatility. Today, I will list 4 types of forex indicators for reference.
Forex indicator type No.3: overbought/oversold forex indicators
Now that forex traders have confirmed market trend, the next thing they need to decide is if they will trade as soon as they get the market trend or trade after a pullback appears. If they want to trade as quickly as possible, they can enter a trade once the uptrend or downtrend is confirmed; if they want to trade with lower risk, they can try to wait for a pullback. Thus, forex traders need overbought/oversold forex indicators such as 14-day RSI for help. This type of indicator calculates the number of uptrend and downtrend days and also calculates a value that ranges from 0 to 100. If the entire price moves upward, forex indicator will approach 100 and if the entire price moves downwards, forex indicator will approach 0.
Forex indicator type No.4: profit taking forex indicators
forex traders need to decide whento exit trade because the best exit time brings potential of making biggest profits. Thus they need the help of profit taking forex indicators. The above mentioned 14-day RSI is also a profit taking forex indicator, I have mentioned that the indicator calculates a value that ranges from 0 to 100. A trader who holds a long position might consider taking some profit if the 14-day RSI rises to a high level of over 80; a trader who holds a short position might consider taking profit if the three-day RSI falls below 20. A profit taking forex indicator helps traders to decide the proper profit taking time in forex trading.
The World Bank
More forex information we know, the better performance we would do. The former are made for the support of economic and social development projects, whereas the latter provide quick disbursing finance to support countries’ policy and institutional reforms.
The world bank not only provides financial support to its member states, but also analytical and advisory services to facilitate the implementation of the lasting economic and social improvements that are needed in many under-developed countries, as well as educating members with the knowledge necessary to resolve their development problems while promoting economic growth.
Forex Trading Platform Ranking Help You Choose the Best Forex Platform
Forex platforms are web based tools used to execute trades from traders and all forex traders know what it means to choose a top forex platform in their trading process; however, it is not that easy and they may easily get confused when facing so many choices. Today, I will list top forex trading platform ranking for forex traders.
This top forex platform gives particular edge to serious traders and investors the opportunity to trade with major global exchanges, such as Chicago Mercantile Exchange (CME), Chicago Board of Trade (CBOE). This top forex platform possesses the following advantages:
1. All major order types
2. State-of-the-art futures link system
3. Instantaneous market depth
4. Order routing capabilities
5. Risk management tools
6. Decision support tools: IKON News
7. Dynamic position tracker
8. Back-office suite
Read more
2012-03-20
Regulations of Financial Institution
When we say forex, we should know some other information. Regulations of financial institutions differ from one country to another. The financial institution regulations are delineated by the government authorities of different countries. The principal objective of these government authorities is to regulate the financial activities going on in the country.
The financial regulations are laid out for the purpose of creating a fair and customer-friendly environment in the financial market of a particular country, which is conducive for economic growth. The statutory objectives of the regulatory bodies of financial institutions include the following:
(1) Market confidence: Sustaining confidence in the financial markets is one of the most important objectives of the financial regulatory bodies.
(2) Consumer protection: Ensuring the most suitable level of customer protection.
(3) Public awareness: Encouraging public awareness about the financial market through imparting educational programs.
(4) Eliminating financial crime: The financial regulations are designed for the purpose of reducing financial crimes and frauds.
Best Forex Tips on Forex Day Trading
In forex day trading, traders hold positions for a very short period, usually from minutes to hours; in this way forex traders are able to make numerous trades every day and close positions within the same day. Since Forex day trading is a little bit different from any other kind of trading and has become quite popular among traders who are willing to make profits; herein I am going to summarize some Forex tips that may possibly help you in Forex day trading:
1. Before forex day trading for real, practice in demo account
Forex demo account becomes a favorite of forex traders because traders can practice trading without worrying about losing their money. Nowadays, it is not difficult for forex day traders to open forex demo account in reliable platform provided by reputable forex brokers. Now actually almost all the Forex brokers are able to provide forex demo account, and among them IKON GROUP may be your best choice for its variable distinguish features.
2. When traded with a live account, remember to start small first
Some forex day traders are anxious to make money in forex day trading. So after opening a live account, they invest a lot in forex day tradeing. But the result is that they normally tend to lose due to the lack of experiences. Therefore, forex traders really should start small when they trade first until they have become quite experienced and confident in Forex day trading
2012-03-19
What Changes Forex Rates in Forex Market
Forex rates are exchange rates at which currency pairs can be bought and sold in the forex market. The running of forex market is all around the changes of forex rates. If forex rates are fixed just like the period before the collapse of Bretton Woods System, forex market would not have the amazing trading volume . So we can see that forex rates play an unprecedented role in generating trading volume of forex market. What change forex rates in forex market? I will state it as following:
ntentions to trade a certain currency should watch over news released by related central banks.
Foreign trade is a decisive driver of forex rates
Trade balance of a country affects forex rates greatly. Take China for example; if other countries want to buy products from China, they have to exchange their currencies into RMB in order to purchase the products; then there will be a great demand for RMB. If there is foreign trade surplus in China, RMB will appreciate and the forex rates in forex trading are prone to be changed accordingly.
Speculation is a factor in changing forex rates
We all know that forex speculation takes a larger part in forex market. If speculators expect that a currency will appreciate in value, they would buy the currency, which increases the demand of the currency and of course, will affect forex rates in forex trading.
Read more
Asymmetric information
In forex markets and financial markets, one party often does not know enough about the other party to make accurate decisions. This inequality is called asymmetric information. Lack of information creates problem: adverse selection and moral hazard. Adverse selection is the problem before the transaction occurs. It occurs when the potential borrowers who are the most likely to produce an undesirable outcome- the bad credit risks—are the ones who most actively seek out a loan and are thus most likely to be selected.
Moral hazard is the problem after the transaction occurs. It is the risk that the borrower might engage in activities that are undesirable from the lender’s point of view because they make it less likely that loan will be paid back. Because moral hazard lowers the probability that the loan will be repaid, lenders may decide that they would rather not make a loan.
Forex rates are exchange rates at which currency pairs can be bought and sold in the forex market. The running of forex market is all around the changes of forex rates. If forex rates are fixed just like the period before the collapse of Bretton Woods System, forex market would not have the amazing trading volume . So we can see that forex rates play an unprecedented role in generating trading volume of forex market. What change forex rates in forex market? I will state it as following:
ntentions to trade a certain currency should watch over news released by related central banks.
Foreign trade is a decisive driver of forex rates
Trade balance of a country affects forex rates greatly. Take China for example; if other countries want to buy products from China, they have to exchange their currencies into RMB in order to purchase the products; then there will be a great demand for RMB. If there is foreign trade surplus in China, RMB will appreciate and the forex rates in forex trading are prone to be changed accordingly.
Speculation is a factor in changing forex rates
We all know that forex speculation takes a larger part in forex market. If speculators expect that a currency will appreciate in value, they would buy the currency, which increases the demand of the currency and of course, will affect forex rates in forex trading.
Read more
2012-03-16
Forex Overview ： Financial institution
Many thing we should know about forex trading. I firmly believe that banking institutions on our freedom than the threat of the enemy’s army more serious.
Financial institutions play a key role in a nation’s financial system.
In simple terms, financial institutions facilitate the transfer of funds from those who have funds to those who need funds. In reality, however, they do far more than simply transfer money and securities between borrows and savers- they literally manufacture a variety of financial products, including mortgages. Now accounts, money market mutual funds, and person funds . Such products allow savers to provide fundse to borrowers indirectly , using whichever savings method is most preferred. At the same time, borrowers can raise funds bu using debt instruments created by intermediaries that have characteristics suitable for their needs, including maturity, denomination, and payment structure.
If you want to read more , you can click here to see our blogs:
Learn Forex-How to Make Money by Forex Trading
A large number of forex traders trade forex nowadays because they realize that forex trading brings potential of making big money. But it is not easy to trade forex successfully. Only 5% of forex traders are able to make relatively big money. So if forex traders want to get profit out of forex trading, the first and most important thing is to learn how to trade forex. Today, I will state how to make money by trading forex.
First, forex is traded in forex market, which is an intangible and the hugest financial market worldwide. Forex traders are able to trade in this market without worrying about manipulation. In this market, forex traders are allowed to trade many currencies in the world. In forex trading, foreign currencies are traded in pairs. Let’s take EUR/USD, the mostly traded currency pairs, for example, a currency quote for a EUR/USD pair is 1.3131. In this example, the base currency is the euro and the U.S. dollar is the quote currency. In all currency pairs, the base currency is worth one unit, and the quoted currency is how much one unit of the base currency can buy. So, in this example, one euro can buy 1.3131 U.S. dollars. Forex trading is betting that quoted currency will appreciate in value relative to the base currency in the near future or the base currency will depreciate in value.
Read more
2012-03-15
Swing trading, a Double-edged Sword for Forex Tradersr
Swing trading is a kind of forex trading that makes use of medium time frame charts such as 1H, 4H or daily charts to analyze and make profit. The swing trading can last from one day to a week. With swing trading, forex traders don’t need to trade forex within short time frame like day trading or long time frame like forex position traders do. Swing trader is by far one of the most popular types of forex traders. But as I said before: every coin has two sides; swing trading is not an exception. Swing trading is like a double-edged sword; there are advantages in swing trading; meanwhile drawbacks exist.
Advantages of swing trading:
First of all, swing trading provides much flexibility in trading time because time frame of swing trading can last from one day to a week or even longer. Thus, swing traders do not need to stay still in front of computer for several hours or concentrate themselves on Forex charts and data for a long time. Instead, swing trader can analyze the trade they want to invest, make the trade and then leave. Thus, swing trading provides much flexibility in arranging trading time. Secondly, a swing trader do not need to analyze as much as a day trader, and do not need to build multiple strategies in a single day. So forex traders are less stressful in swing trading compared with day traders. Last but not the least, swing trading uses the medium time frame, therefore, they don’t need to focus on price move all the time, thus, they have free time in learning swing trading.
Read more
Forex Trading Education
Forex trading system: Top traders have a Forex trading system. They have the discipline to follow it rigorously, because they know that only the trades that are signaled by their system have a greater rate of success.
Price behavior: They have incorporated price behavior into their trading systems. They know price action has the last word.
Money management: Avoiding the risk of ruin is a primary subject to the best traders. After all, you cannot succeed without funds in your trading account.
Trading psychology: They are aware of every psychological issue that affects the decisions made by traders. They have accepted the fact that every individual trade has two probable outcomes, not just the winning side.
These are, among others, the most important factors that influence the success rate of Forex traders.
Swing trading is a kind of forex trading that makes use of medium time frame charts such as 1H, 4H or daily charts to analyze and make profit. The swing trading can last from one day to a week. With swing trading, forex traders don’t need to trade forex within short time frame like day trading or long time frame like forex position traders do. Swing trader is by far one of the most popular types of forex traders. But as I said before: every coin has two sides; swing trading is not an exception. Swing trading is like a double-edged sword; there are advantages in swing trading; meanwhile drawbacks exist.
Advantages of swing trading:
First of all, swing trading provides much flexibility in trading time because time frame of swing trading can last from one day to a week or even longer. Thus, swing traders do not need to stay still in front of computer for several hours or concentrate themselves on Forex charts and data for a long time. Instead, swing trader can analyze the trade they want to invest, make the trade and then leave. Thus, swing trading provides much flexibility in arranging trading time. Secondly, a swing trader do not need to analyze as much as a day trader, and do not need to build multiple strategies in a single day. So forex traders are less stressful in swing trading compared with day traders. Last but not the least, swing trading uses the medium time frame, therefore, they don’t need to focus on price move all the time, thus, they have free time in learning swing trading.
Read more
What attitude we should have in forex trading?
Trading in the financial markets is surrounded by a certain amount of mystique because there is no single formula for trading successfully. If we want to success in forex trading, besides the objective reasons, such as the right platform, the entrusted brokers, the analysis you knew or the techniques you learned, there is the other thing you should pay more attention that is the attitude you keep. Attitude in trading means that you develop your mindset to reflect the following four attributes:
• Patience
Once you know what to expect from your system, then have the patience to wait for the price to reach the levels that your system indicates for either the point of entry or exit. If your system indicates an entry at a certain level but the market never reaches it, then move on to the next opportunity. There will always be another trade. In other words, don't chase the bus after it has left the terminal; wait for the next bus. (Learn more in Patience Is A Trader's Virtue.)
• Discipline
Discipline is the ability to be patient – to sit on your hands until your system triggers an action point. Sometimes the price action won't reach your anticipated price point. At this time you must have the discipline to believe in your system and not to second-guess it. Discipline is also the ability to pull the trigger when your system indicates to do so. This is especially true for stop losses.
Types of Forex Traders-Which One Suits You Best
Scalper: scalper is a type of forex trader who usually uses shorter time frame charts such as 1M, 5M to trade for very small profit with rapid entries and exits. Forex scalpers make minor profit from every rapid trade in order to accumulate small profit into huge one. Forex traders who trade scalping needs much patience, attention as well as skills to respond to market changes. Most scalpers are stressful due to the screen time and frequent trading.
News trader: news trader is another type of forex trader who makes decisions based on news announcements. Economic reports and other news tend to have a short impact on forex market. Forex traders who trade on news try to predict the coming market trend to get profit. Normally, trading around news is risky because the market is volatile. Moreover, forex traders trade on news need to get reliable news before other competitors and respond quickly in order to capture profits. So news traders should first weigh risk of forex news trading before they predict the profitability.
Swing trader: swing traders are a kind of forex traders who make use of longer time frame charts such as 1H, 4H or daily charts to make profit. The swing trading can last from one day to several weeks because of the longer time frame used by forex traders.
Read more
Subscribe to:
Posts (Atom)