Forex Trading Basics That You SHould Know

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The foreign exchange, or forex, market is relatively young, having begun in the early 1970s after the United States dropped the gold standard and national currencies started to fluctuate widely.

For about 30 years prior to that, most nations had agreed to keep their currency values stable in relation to the U.S. dollar, making a forex market unnecessary.

Is It Suitable For You To Trade Forex?

Being a forex trader: Is it for you?

Being a forex trader is not for the faint of heart.

The foreign exchange market is a fast-paced world that operates 24 hours a day, 5 and a half days a week.

For some traders, fortunes are made and lost very quickly.

Yet for someone with the right know-how and enough motivation and drive, forex trading can be rewarding both personally and financially.

How many people make their living as forex traders?

It’s hard to say for sure, but we know the number is smaller than the number of stock traders.

Take Part In Forex Contests!

If you want to know how good your trading is, you can always take part in Forex contest help by various websites.

Recently, i took part in a forex contest organized by FX Pro.

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It only take a few minutes to register and every contest will have different time lenght.

Some would last 2 weeks while some goes on for a month.

For example, the one that I am in now goes on for the whole month of May 2013.

So, where can you find these contests?

You can find them in MyFxBook.com

Sign up with an account and you will be able to link MyFxBook to your trading account to see how your trading is fairing up.


At the time of this post, my position is at 304 out of 4234 competitors.

My account is up by 57.65%.
It is a long way behind the top guy who has registered a 7982.6% gain in just over week.

These high flyers are mostly trading Gold and Silver.

I checked them out of course :)

So why enter Forex Contents?

There is a prize money!

For this one, the winner will get $3000 funded into a FX Pro account.
So, to get the money, you need to register as a FX Pro user. Of course, you can trade with the money or withdraw it out after 1 day.

Pretty good huh... You can practice and win money at the same time.

The 2nd place will get a $2000 account and 3rd will win a $1000 account.

So, if you come across any forex contest out there, you can simply join the contest to see how well you perform againts traders from all over the world.

So, wish me luck.

Yours sincerely,




 Check Out my other posts here- My Justinnation

Your Forex Trading Strategy Is Everything

A good forex trading strategy can mean the difference between failure and success.

No sane person would jump into the forex market blindly.

You might as well set your money on fire if that’s what you’re going to do.

Sensible investors study the market carefully first, learn the ins and outs of currency trading -- and even then, before they launch into it, they devise a smart forex trading strategy.

The market is constantly changing and is not always predictable, true.

But you still need a strategy, one that allows for unknowns and surprises.

Your strategy should begin with how much money you can afford to lose.

That may sound like a negative outlook -- after all, the goal is to MAKE money, not lose it -- but common sense tells you that the forex market is a gamble.

There are precautions you can take that will make you less likely to lose your initial investment, but there’s no way to guarantee it.


Your strategy must allow for the possibility that you’ll take a bath, and for that reason you should never invest more than you can afford to lose.

Another good tip for your trading strategy is to avoid putting all your investments in one currency.

What’s the old saying about eggs and baskets? Yeah, don’t put ‘em all in one.

Spreading them out makes it much, much less likely that you’ll be wiped out, the way you would if you relied on one currency and it bottomed out.

As you prepare your trading strategy, make yourself aware of what the market is doing right now.

Is it trending upward, or downward? What’s the general mood among traders? They all have a strategy, too, and are eager to know what others are thinking.

Consider also what your timeline is.


How long do you want to stay in the market before taking your profits and getting out?

Your strategy must also involve learning the timing of the business.

Timing is everything: Too late or too early and your potential profit evaporates. As you learn to gauge the market and make trades at just the right time, your profits will increase.

A good strategy will factor in this learning curve and allow for a few mistakes at first.

Above all, to prepared to accept surprises when it comes to forex trading.

Strategy can only get you so far. The rest is ingenuity and a little bit of luck.


Yours sincerely,




 Check Out my other posts here- My Justinnation

Forex Demo: Always Trade Demo Account Before Trading Live Acount

Before airplane pilots actually fly on their own, they usually practice in simulators that re-create what flying will be like without any actual risk.

Since currency trading is as dangerous financially as flying is physically, it makes sense that there would be a forex demo available, too.

A forex demo is a smart way for a new investor to start.

Reading books and taking online courses can teach you the basics, but the best way to learn anything is to get some hands-on experience.

However, with forex, hands-on experience could mean losing your shirt.

Trading Forex Right In The Comforts Of Your Own Home

Trading in financial institutions is one of the best ways to earn money.

 It is also one of the most promising career choices that people make today.

With the opportunity to earn a lot of money, more and more people who are interested in trading in the financial institution have left their jobs to get a piece of the action in the financial market.

Today, the Forex market is the best choice for people who are considering making a career out of trading in the financial market.

Source: reviewsarena.com

Should You Use Automated Forex System

With the improvement of technology, many things are beginning to be automated. The same thing is already happening in the Forex market with Automated Forex Systems.

But before you jump right into the Forex bandwagon, shouldn't you know the reason why more people are trading Forex?

Forex Trading: Double Your Account In A Year!

If you are interested in Forex trading, you may have been informed that forex trading is a high risk high return  type of investment.

You see, most expert traders out there will tell you that they are able to double their account balamce in one year's time.

Is that a high return?

Yes, if you compare it with a conventional type of investment like saving money in the bank.

In my country, a fixed deposit account usually provide just over 3% return in one year.

Compare to this, a 100% return in Forex would be masive.

Now, I am not saying that 100% return in a year is not good. But with the amount of risk that we put in forex, shouldn't the return be much higher?

Ask yourself this question.

For me, a good return in Forex would be doubling my account in every 2-3 months.

That is what i call high return. 

Sounds hard to believe?

Source: www.fxtips.weebly.com

In Forex, one can achieve a 100% return by just making 10 pips a day.

Yes, that is true, I attended a training before and the person giving the training said that.

Just think, if you make 20 pips a day, you will be making 400pips a month.

By using the leverage in the lot sizes, it won't be hard to calculate how much we can really earn.

The answer is simple because there is so much money to be made in Forex.

Simply increase your lot or contract sizes every week will allow you to grow your account like crazy.

All of this is only possible if you have a good trading strategy.

Without it,  everything will be useless.

It doesn't matter if you initial deposit is 100,000.

What matters most is your winning ratio. If you have a 80% win rate, you can turn $1000 to $1000000 in a year.


That is how powerful forex can be.

Yours sincerely,




 Check Out my other posts here- My Justinnation

WHy Use A Forex Simulator?

There are different reasons why many people are trading in the forex.

It includes free demo on real time, leverage of 400:1, or simply getting into the action of trading. 

However, even if traders performed practices on real time trading by testing its services and strategies, they sometimes fail. 

The trading demo is not enough unless the trader know what he is doing.

Source: www.trade2win.com

Forex Trading: Get A Good Forex Program

How you ever thought about doing a trade globally? 

Some people might be a bit hesitant to do such a thing, but the opportunity is just waiting for you out there.

You don’t actually have to travel outside your country, if that's your concern.

With the availability of the Internet, you can actually do forex trading on a global scale even in your own home, at work, and regardless of your location.

The FX market seems complex, especially to new traders, and they find it rather difficult to go about the trade. But nothing is impossible once you've learned the trade.

Forex Trading: How Many Pips You Need To Be Rich?

Winning Pips

If you know about forex, you would probably know what all the traders are focusing on is winning pips. The pips are points that calculate our profits. It comes in different lot sizes or contracts.

In forex, forex traders use make use of leverage in order to trade and make big bucks.

How you ask?

The answer is to win as many pips as possible.

In order to do that, you must know how to trade forex of course.

And this is not easy because there is a lot to learn.

But put that aside.

I am here too share how powerful Forex can be if you can trade consistently with more wins than loss.

How many Pips You Need To Win? 

So how many pips do you need to make big bucks.

This will depend on the lot sizes on your trades.

Say that you can easily make 20 pips a day from the EURUSD.
Your lot size is 1.0 which is $10 per pip.
20 pips would bring you $200.

Easy right?

If you trade 3 currency pairs, you would have been able to make $200 x 3= $600 in a day.

If you take an average trades of 3 trades a week, you  would have made 3 trades per currency pair and a total of 9 trades in a week.

So, your potential profits for that week could be
$200 x 3 x 3 =  $1800

That is  $7200 a month.

 I know that is not much but remember that your lot size is only 1.0.
If you double that the following month to 2.0 per lot.

Your profits will double to $14400 a month.

That is a nice pay rise isn't it?

But we all know that it is hardly impossible to be correct 100% and there will bound to be some trades that we lose.

That is where your trading system or method comes in.

You don't need a trading method that can win you 100 pips every trade.

Instead, you need a trading method that can let you win 8 out of 10 trades that you make in order to make it in Forex.

Only with that type of accuracy, you will dare to enter trades with big lot sizes.

When you eventually reach 10 lot per trade, you will be making $18000 in a week based on the calculations above.

That is $72000 a month.

And this is only a 20 pip win in all of your trades.

See the power? I certainly did.


Yours sincerely,




 Check Out my other posts here- My Justinnation

You Need Practice In Forex Market

So you want to learn about the Forex market, and trading internationally but you are risking your personal wealth if you jump in before knowing all about how trading takes place.

Online, you will find many games and simulations while learning the methods involved in forex market trading.

The forex markets include countries from around the world, where all countries involved are using different currencies, and when faced against each other are worth more or less than the original valued currencies that are being traded.

The forex markets are used to build wealth in, for governments, banks, and brokers, and for many countries.

To get started in learning about forex trading, you will need to locate the forex trading software, education-learning system you want to use.

As you find the games, as they are called, you will enter information about yourself, about what you are interested in learning and then you will download software to your computer.

In following the 'game', you will learn how to make and lose money in the forex market.

This type of game is going to make you more aware of what happens daily, how the markets open and close, and how different the various countries currencies really are.

You will open an online 'account' using the gaming system.

You will then be able to read the news, find and compare markets, and you will be able to make 'fake' trades so you can watch your money build or be eaten away in losses.

As you learn the system, using it a few times a week, you are going to be more prepared, more educated and you will be ready to use the forex trades to make money.

Of course, you may still need the aid of broker or a company to make your transactions happen but you will better understand the process, what will happen, and what calls you may want to make when you read about the news, the markets, and the currencies in other countries.

The forex market is also referred to as the FX market.

If you are interested in joining the millions who are making money in the forex markets, you want to ensure you are dealing with a reputable banker or company involved in forex trading.

With the spur of interest in the forex markets, there are many types of companies that are popping out on the Internet appearing to be genuine forex trading companies but in reality, they are not.

Forex trading can be completed through a broker, a company that deals in the funds, and from within your own country.

For example, the US has many regulations and laws regarding forex trading and what companies are permitted to work with the public dealing with international trading and markets.

Yours sincerely,




 Check Out my other posts here- My Justinnation

Daily Forex Report- 10 April 2013

Here is today's report on the Forex Market.

Source: www.askmariosingh.com

Importance of Forex Brokers

If you traded in the Forex market before or if you’re still trading now, you may have heard the term Forex broker a lot of times.

However, as an individual trader, you may want to know what is a Forex broker and what they do.

Forex brokers are individuals or companies that assist individual traders and companies when they are trading in the Forex market.

These individuals can really give you that extra edge you need in order to be successful in the Forex market.

Although they will be trading your funded account, all the decisions are still yours to make if you want to.

Forex brokers are there to assist you with your trading needs in exchange for a small commission from what you earn.

Here are some of the services that a Forex broker can give you:

Forex Trading Course: A Must for Forex Beginners

In the world’s largest financial market where exchanges reach up to trillions of dollars each day, many people would really want to participate in this market.

Aside from being the largest financial market in the world, Forex is also the most liquid market in the world where trades are done 24 hours a day.

A lot of traders have become very rich trading in the Forex market.

And, many people who trade in the Forex market everyday have found a great way to replace their day jobs.

Some even became millionaires almost overnight by just trading in this financial market.

Trading in the Forex market can be very attractive.

However, you should also know that there have been people who suffered extreme financial losses in the Forex market.

It is true that the Forex market offers a very good money-making opportunity to a lot of people, but it also has its risks.

It is a fact that people who didn’t have the right knowledge and skills trading in the Forex market suffered huge financial losses and some even went into debt.

So, before you enter the Forex market, it is essential that you should have the necessary knowledge and skills as a Forex trader in order to minimize the risk of losing money and maximize the potential of making money.

Many people who were successful in the Forex market have went through a Forex trading course to get the knowledge and skills needed to successfully trade in this very liquid and very large financial market.

Forex News: EUR/USD Surges Continues

Source: www.investing.com

On Thursday Euro/Dollar continued increasing with almost 80 pips. The European currency appreciated from 1.3541 to 1.3619 yesterday, matching the positive money flow sentiment at nearly +24%, closing the day at 1.3574. This morning the Euro surged even further, climbing to 1.3634.
On the 1 hour chart the upward channel has renewed, while on the 3 hour chart the upward channel looks good. Break above the nearest resistance and today's top at 1.3634 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3541, however, would confirm continuation of the bearish trend, towards next objective downwards 1.3427.
Today's focus is on Italy, France, Germany, and EU17 PPI, EU17 Harmonized CPI and Unemployment, and US Nonfarm payrolls, Unemployment, Average hourly earnings and workweek, Michigan sentiment index, ISM Manufacturing PMI, and Construction spending, at 8:45, 8:50, 8:55, 9, 10, 13:30, 14:55 and 15 GMT respectively.

Start trading forex today... with FX Primus... Start HERE 

Forex Daily Forecast 1 Feb 2013

Here is a scoop on today's forecast...

Source: www.investing.com


EUR/USD
Trading range: 1.3600 - 1.3705
Trend: Upward
Buy at 1.3614 SL 1.3582 TP 1.3691

USD/JPY
Trading range: 91.90 - 92.85
Trend: Upward
Buy at 92.03 SL 91.71 TP 92.75

GBP/USD
Trading range: 1.5855 - 1.5965
Trend: Upward
Buy at 1.5865 SL 1.5833 TP 1.5953

USD/CHF
Trading range: 0.9120 - 0.9020
Trend: Downward
Sell at 0.9110 SL 0.9142 TP 0.9026

3 Important tips when trading Forex

Forex trading is a high risk trading medium where individuals can use the power of leverage to achieve great profits. However, it also carries huge risks. That is why all the websites promotion Forex Trading softwares or products will have a huge Disclaimer about Forex trading.

I have been trading Forex for 3 years now and mind you, i am still losing from time to time. Nevertheless, i have been able to achieve consistent 65-70% winning ratio which is enough to get me profits week in week out.

Here are 3 important tips that i always tell myself  everyday.
1. You never know which direction the market will go
2. Always enter the forex  market with solid reasons.
3. We don't have to trade everyday. (most newbies are so excited, they have to trade everyday)

Well, these 3 tips are just basic knowledge in trading but it is often the simplest things where we tend to neglect.

Hope you like the post :),

Happy trading.


Yours sincerely,




 Check Out my other posts here- My Justinnation

FX Primus Named as Most Reliable Broker Asia 2012, and for Best Trade Executions 2012

Once again, FX Primus is making headlines for good reasons. This wonderful broker is

Named as Most Reliable Broker Asia 2012, and for Best Trade Executions 2012

With so many online forex brokes from various countries, it is really difficult for someone to make a choice. Luckily, i was introduced to FX Primus by a close friend who i have known for more than 10 years.. :)
He is my school buddy...

Since then, i have been using FX Primus..

Source: www.finance.yahoo.com 

Leading global foreign exchange brokerage FXPRIMUS has won awards as Most Reliable Broker Asia 2012, and for Best Trade Executions 2012, from Global Banking & Finance Review.
The awards honour companies that stand out in particular areas of expertise in the banking and finance industry. Criteria evaluated by a judging panel of industry analysts, include detailed research on quality, performance and community commitment.
"FXPRIMUS was chosen for its customer financial education excellence and its strong hands-on customer service, an ethical approach to corporate social responsibility and commitment to the local communities in which it operates, and for its transparent corporate governance, financial stability and a consistent balance sheet, said David Cooke, Assistant Editor, Global Banking and Finance Review.
"Each year we endeavour to find the very best in a particular category and FXPRIMUS not only met the criteria but exceeded in most," he added.
"We are delighted to receive these awards from Global Banking & Finance Review," said Terry Thompson, president of FXPRIMUS. "The awards validate our continuing efforts to provide customers with world-class service in terms of safety of funds and customer support. In addition, they enhance our reputation for the highest standards of brokerage and trade execution," he said.
With experience in retail Forex brokerage, banking, hedge fund management and technology development, FXPRIMUS is driven by a focus on unprecedented fund safety, superior trade execution and straight through processing.

If you are happy with your forex broker... then it is good news for you.... but if you are looking for one, you should take a  look at FX Primus.

Happy trading...

Yours sincerely,




 Check Out my other posts here- My Justinnation