Places To Get a Great Forex Trading System
September 7, 2008 by Trader Rich
It’s very important that if you’re exploring forex trading or already trading that you have a trading system. One aspect of that trading system are the actual setup rules which usually contain entry and exit techniques. Traders put a lot of time and effort in developing these setup rules too often neglecting other aspects such as position sizing or relative size of your profits compared to losses. Therefore it’s important to find a comprehensive forex trading system.
Where can you find a comprehensive forex trading system? Throughout the last three years, I’ve been through many trading systems obtained mostly from books, forums, or other websites. I’ve found that almost every time, I’ll mold that system into something totally different than the original incarnation, something that fits my personality and style of trading. Many times, the original system will also need to be expanded to include things that were neglected or forgotten. Those of you searching for the perfect system may find this method of modifying existing forex trading systems desirable. There are places where you can find the whole package without any need for modification.
This brings me to the question, "where did you get your forex trading system?" I think there are four main ways of getting a trading system.
1. Buy it. There are tons for sale out there on the net but heed caution. Many were just copied from forums, books, or other websites. Sometimes when you buy forex education, part of the package will include a trading system. For instance, Rob Booker provides his Arizona rules as part of his mentoring program.
2. Get a free one. There are many free systems that can be found in books, forums, or other websites. I guess one can question whether a system found is a book is free since you paid for the book.
3. Create an original system yourself. My main trading system is an original creation. There may be other systems out there that are similar to it since it’s a culmination of years of exposure to other systems and experiences.
4. Modify someone else’s system and make it your own. As I stated above, I have done this many times.
Friday, February 12, 2010
Domain name for Forex Sites
If you are going to become an affiliate in the Forex world, you will have to pick a domain name. As a beginner, you might want to start with just one domain. Later on, as your experience grows, you can expand and manage couple of domains at the same time. How to pick up the right domain name? Where and how to register your domain? Is it possible to get a free domain for your Forex site?
Choosing domain requires some serious thinking and searching. First of all, decide what your Forex website will be about: Forex brokers reviews, Forex forum, Forex blog, Forex education, Forex software, Forex trading platforms etc. Once you have figured out your website theme, choose the domain name with the theme keywords. In fact, brainstorm with 5 top keywords, pair them up, add prefixes and/or suffixes to come up with a good domain ideas. For example, if you decide to make Forex education, a good domain may sound like:
LearnForex.com, or StartForexTrading.com, or ForexTradingGuide.com
Here are couple of more things you should know while choosing a domain for you Forex website:
1. Domain Endings - nothing better than .com
You have probably already noticed the variety of domain endings, such as .net, .org, .tv, however there is nothing better than com. Don't fall for cheaper domains because of the endings other then .com. It is just not worth it.
2. Amount of Words - The Less, the Better
First of all, since your website is about Forex, the domain name must have "Forex" in it somewhere, preferably in the beginning. Don't go overboard by using more than 3 words in the domain.
3. Hyphens and Numbers are Bad
If you can avoid numbers and hyphens in the domain name - perfect! Hyphens might look better for a human eye, but for Google and other search engine they are just obstacles.
4. Don't Look for Misspelling
I completely understand the need to be unique and have an image of a genius over the net; however, don't use difficult words in the domain name because it will only lead to misspelling. The words for your Forex website should be short, easy-to-spell and memorable. Avoid words, such as ecstasy, millennium, irresistible, sacrilegious etc. in your Forex domain!
Now it is time to register the domain for your Forex site. Before buying a domain name via Go Daddy or similar domain registrars, check whether your hosting provider gives away free domain with the hosting plan. Some hosting providers offer free the domain upon the purchase of the plan.
Search to see if the domain name you have come up with is available (there is a domain search with every registrar). Don't be too disappointed to find that all of the wanted domain names for your Forex sites are already taken by someone else. In the worst case scenario add hyphen between words, or try to brainstorm some more with words related to your Forex website topic.
Once you have found the available domain, click through, make the payment (unless you get a domain for free from your hosting provider), and you are all done! You are an official owner of a domain!
Forex Affiliate Programs - Quality information on top Forex affiliate programs including reviews and updates.
Article Source: http://EzineArticles.com/?expert=Yana_Makhanov
Choosing domain requires some serious thinking and searching. First of all, decide what your Forex website will be about: Forex brokers reviews, Forex forum, Forex blog, Forex education, Forex software, Forex trading platforms etc. Once you have figured out your website theme, choose the domain name with the theme keywords. In fact, brainstorm with 5 top keywords, pair them up, add prefixes and/or suffixes to come up with a good domain ideas. For example, if you decide to make Forex education, a good domain may sound like:
LearnForex.com, or StartForexTrading.com, or ForexTradingGuide.com
Here are couple of more things you should know while choosing a domain for you Forex website:
1. Domain Endings - nothing better than .com
You have probably already noticed the variety of domain endings, such as .net, .org, .tv, however there is nothing better than com. Don't fall for cheaper domains because of the endings other then .com. It is just not worth it.
2. Amount of Words - The Less, the Better
First of all, since your website is about Forex, the domain name must have "Forex" in it somewhere, preferably in the beginning. Don't go overboard by using more than 3 words in the domain.
3. Hyphens and Numbers are Bad
If you can avoid numbers and hyphens in the domain name - perfect! Hyphens might look better for a human eye, but for Google and other search engine they are just obstacles.
4. Don't Look for Misspelling
I completely understand the need to be unique and have an image of a genius over the net; however, don't use difficult words in the domain name because it will only lead to misspelling. The words for your Forex website should be short, easy-to-spell and memorable. Avoid words, such as ecstasy, millennium, irresistible, sacrilegious etc. in your Forex domain!
Now it is time to register the domain for your Forex site. Before buying a domain name via Go Daddy or similar domain registrars, check whether your hosting provider gives away free domain with the hosting plan. Some hosting providers offer free the domain upon the purchase of the plan.
Search to see if the domain name you have come up with is available (there is a domain search with every registrar). Don't be too disappointed to find that all of the wanted domain names for your Forex sites are already taken by someone else. In the worst case scenario add hyphen between words, or try to brainstorm some more with words related to your Forex website topic.
Once you have found the available domain, click through, make the payment (unless you get a domain for free from your hosting provider), and you are all done! You are an official owner of a domain!
Forex Affiliate Programs - Quality information on top Forex affiliate programs including reviews and updates.
Article Source: http://EzineArticles.com/?expert=Yana_Makhanov
Forex Brokers
Forex Brokers
One of the hardest decisions you face when starting out as a forex trader is which forex broker to go with. If you do a search online you will find hundreds of different forex brokers to choose from. The trouble is that some are better than others, and furthermore there are some that you should avoid like the plague.
So let me give you a list of things you should look out for when choosing a forex broker:
1. Regulation
This is arguably the most important factor because whichever broker you decide to go with, you must make sure that they are fully regulated with the relevant authority. So if they are based in the US, for example, then you should ensure that they are regulated by the NFA (National Futures Association) or the CFTC (Commodity Futures Trading Commission). Similarly if they are a UK-based company, then they should be regulated by the FSA (Financial Services Authority).
If you go with an offshore forex broker that is completely unregulated, for example, then you are taking a huge risk because you may never see your money again.
2. Spreads
If you are a relatively long-term trader and mainly use the 4 hour or daily charts, for instance, then the spreads offered by your chosen forex broker is not so much of an issue. However if you intend to trade the shorter time frames then your points gains per trade will obviously be a lot less, and therefore the spreads will start to eat into your profits. So as a general guide you ideally want to choose a broker that offers spreads of around 2 or 3 pips for the EUR/USD and GBP/USD pairs, and certainly no more than 4.
3. Leverage
The amount of leverage offered by different forex brokers varies greatly. Some may only offer 100:1 leverage while some may offer as much as 400:1. My own personal view is that 100:1 is more than enough, but if you are more of a risk taker then you may want to look for brokers that offer higher leverage.
4. Demo Accounts
If you are relatively inexperienced or if you want to test out a broker's trading platform before deciding whether or not you wish to open a live trading account, then you should choose a broker that provides a free demo account. Most reputable brokers offer demo accounts nowadays so I would always recommend you take advantage of this facility.
5. Account Types
Although all forex brokers cater for the well capitalized traders, not all of them cater for those traders who wish to trade smaller positions. Therefore if you yourself fall into this category, then you should look out for brokers that allow you to trade mini-lots (equivalent to around $1 per pip) or micro-lots ($0.1 per pip).
6. Minimum Deposit
If money is tight or you want to start off small (which is always a good idea), then you will want to choose a forex broker that requires a relatively low minimum deposit when opening a live trading account.
7. Charting Software
Nearly all forex brokers provide some kind of charting software free of charge when you open an account with them. It may be the highly popular Metatrader 4 platform or it may simply be a no-frills charting package. So therefore if you do want to use some of the more advanced charts, then I suggest you go with a broker that provides the Metatrader 4 or ProRealTime platform, for instance, otherwise you will have to fork out some money to access some decent charts elsewhere.
8. Additional Services
As well as charting software, you may also want your broker to provide a range of additional services such as daily commentaries, market analysis, educational materials and the option to deal through your mobile phone.
9. Customer Service
If you are just starting out as a forex trader you will probably have several questions and queries when you first open an account with a broker. So therefore you should try and join a broker that offers a high level of customer service. One way of testing this out is to contact the help desk of the brokers you are considering joining, ask them a particular question, and see how long they take to get back to you.
10. Customer Comments And Reviews
Finally your ultimate choice of forex broker will often be swayed by what other traders have to say about them. There are several websites which contain customer reviews of all of the leading brokers and you will find no shortage of opinions on all of the different forex forums.
However one thing I will say is that you will never come across brokers that have nothing but positive reviews, so don't waste too much time looking for the perfect broker because it simply doesn't exist. Just look for brokers that have a high number of positive comments and you should be fine.
One of the hardest decisions you face when starting out as a forex trader is which forex broker to go with. If you do a search online you will find hundreds of different forex brokers to choose from. The trouble is that some are better than others, and furthermore there are some that you should avoid like the plague.
So let me give you a list of things you should look out for when choosing a forex broker:
1. Regulation
This is arguably the most important factor because whichever broker you decide to go with, you must make sure that they are fully regulated with the relevant authority. So if they are based in the US, for example, then you should ensure that they are regulated by the NFA (National Futures Association) or the CFTC (Commodity Futures Trading Commission). Similarly if they are a UK-based company, then they should be regulated by the FSA (Financial Services Authority).
If you go with an offshore forex broker that is completely unregulated, for example, then you are taking a huge risk because you may never see your money again.
2. Spreads
If you are a relatively long-term trader and mainly use the 4 hour or daily charts, for instance, then the spreads offered by your chosen forex broker is not so much of an issue. However if you intend to trade the shorter time frames then your points gains per trade will obviously be a lot less, and therefore the spreads will start to eat into your profits. So as a general guide you ideally want to choose a broker that offers spreads of around 2 or 3 pips for the EUR/USD and GBP/USD pairs, and certainly no more than 4.
3. Leverage
The amount of leverage offered by different forex brokers varies greatly. Some may only offer 100:1 leverage while some may offer as much as 400:1. My own personal view is that 100:1 is more than enough, but if you are more of a risk taker then you may want to look for brokers that offer higher leverage.
4. Demo Accounts
If you are relatively inexperienced or if you want to test out a broker's trading platform before deciding whether or not you wish to open a live trading account, then you should choose a broker that provides a free demo account. Most reputable brokers offer demo accounts nowadays so I would always recommend you take advantage of this facility.
5. Account Types
Although all forex brokers cater for the well capitalized traders, not all of them cater for those traders who wish to trade smaller positions. Therefore if you yourself fall into this category, then you should look out for brokers that allow you to trade mini-lots (equivalent to around $1 per pip) or micro-lots ($0.1 per pip).
6. Minimum Deposit
If money is tight or you want to start off small (which is always a good idea), then you will want to choose a forex broker that requires a relatively low minimum deposit when opening a live trading account.
7. Charting Software
Nearly all forex brokers provide some kind of charting software free of charge when you open an account with them. It may be the highly popular Metatrader 4 platform or it may simply be a no-frills charting package. So therefore if you do want to use some of the more advanced charts, then I suggest you go with a broker that provides the Metatrader 4 or ProRealTime platform, for instance, otherwise you will have to fork out some money to access some decent charts elsewhere.
8. Additional Services
As well as charting software, you may also want your broker to provide a range of additional services such as daily commentaries, market analysis, educational materials and the option to deal through your mobile phone.
9. Customer Service
If you are just starting out as a forex trader you will probably have several questions and queries when you first open an account with a broker. So therefore you should try and join a broker that offers a high level of customer service. One way of testing this out is to contact the help desk of the brokers you are considering joining, ask them a particular question, and see how long they take to get back to you.
10. Customer Comments And Reviews
Finally your ultimate choice of forex broker will often be swayed by what other traders have to say about them. There are several websites which contain customer reviews of all of the leading brokers and you will find no shortage of opinions on all of the different forex forums.
However one thing I will say is that you will never come across brokers that have nothing but positive reviews, so don't waste too much time looking for the perfect broker because it simply doesn't exist. Just look for brokers that have a high number of positive comments and you should be fine.
Trading For Beginners
At first sight, the means by which to learn Forex trading online can seem a little daunting to the beginner. There are a number of factors to take into account and a whole new set of terminology to master.
But Forex training for beginners is readily available on the internet and can be accessed 24/7 for anyone to learn trading from scratch. The principle is simple - to take advantage in the changing value between two currencies as they trade in the global market. That means taking a position and then managing the exposure to take profits when the movement is in your favour and cutting losses when the movement is against you.
As with any skill, practice will make the trader perform better. Even beginners Forex trading can make as much money as a seasoned professional if they follow the basic rules and stay controlled. Gathering information on Forex trading strategies is also simple. There are numerous broker sites offering trading software and practice accounts for beginners to start getting comfortable with how the markets work. The more the prospective trader learns about how to trade the better armed they will be to make money.
Forex markets are open at all times of the day and all days of the week. If you need this kind of access then choose the right broker system to work with. You'll need to be active and set good stop loss positions to cover whilst you are not online but have open positions.
If you're still unsure about the ins and outs or currency trading and would like help to learn learn forex trading online, there are many helpful currency trading forums out there with seasoned pro traders who are more than happy to answer any questions you may have or you can try the various trading course reviews websites.
Pro Trading Course will teach you everything you need to know to help you learn forex trading via remote forex trading courses and one-to-one mentorship from experienced Traders.
Article Source: http://EzineArticles.com/?expert=Ryan_Owen
But Forex training for beginners is readily available on the internet and can be accessed 24/7 for anyone to learn trading from scratch. The principle is simple - to take advantage in the changing value between two currencies as they trade in the global market. That means taking a position and then managing the exposure to take profits when the movement is in your favour and cutting losses when the movement is against you.
As with any skill, practice will make the trader perform better. Even beginners Forex trading can make as much money as a seasoned professional if they follow the basic rules and stay controlled. Gathering information on Forex trading strategies is also simple. There are numerous broker sites offering trading software and practice accounts for beginners to start getting comfortable with how the markets work. The more the prospective trader learns about how to trade the better armed they will be to make money.
Forex markets are open at all times of the day and all days of the week. If you need this kind of access then choose the right broker system to work with. You'll need to be active and set good stop loss positions to cover whilst you are not online but have open positions.
If you're still unsure about the ins and outs or currency trading and would like help to learn learn forex trading online, there are many helpful currency trading forums out there with seasoned pro traders who are more than happy to answer any questions you may have or you can try the various trading course reviews websites.
Pro Trading Course will teach you everything you need to know to help you learn forex trading via remote forex trading courses and one-to-one mentorship from experienced Traders.
Article Source: http://EzineArticles.com/?expert=Ryan_Owen
Long Term forex trading
January 25, 2010
Here's A Long-Term Forex Trading System You Can Use
Just before I go on holiday, I thought I would leave you with a long-term forex trading system that you may want to play around with. I came up with it over the weekend and it does seem to be very promising so far. It basically uses four variations of the Supertrend indicator, and seems to be most profitable on the weekly charts (where you start to get the really big trends).
So the indicators you need are as follows:
More on Here's A Long-Term Forex Trading System You Can Use
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January 23, 2010
The USDBOT Robot - A Sneak Preview
I don't normally mention forex robots very much on this blog, but there's been a lot of hype surrounding the upcoming launch of a new robot called USDBOT, so I thought I would bring it to your attention.
You can find out more about the USDBOT robot by clicking here and downloading the free report, but here's a quick run-down of some of the main features of this particular robot:
- Trades EUR/USD and USD/JPY pairs.
- Has built in neural technology that adapts to new market conditions.
- Designed by professionals.
- Completely automated.
- Takes less than 5 minutes to install.
- Live trading results updated every 15 minutes (after product launches).
I don't really have any experience of forex robots at all, so I can't tell you how profitable the USDBOT actually is. However I understand that the free report gives you past results from the last few years, so this should give you some idea of how good it is.
Here's A Long-Term Forex Trading System You Can Use
Just before I go on holiday, I thought I would leave you with a long-term forex trading system that you may want to play around with. I came up with it over the weekend and it does seem to be very promising so far. It basically uses four variations of the Supertrend indicator, and seems to be most profitable on the weekly charts (where you start to get the really big trends).
So the indicators you need are as follows:
More on Here's A Long-Term Forex Trading System You Can Use
Filed under Blog by JamesW
del.icio.us Digg Furl Reddit Ask blogmarks Google Netscape Socializer StumbleUpon
Technorati Windows Live Yahoo! Help
January 23, 2010
The USDBOT Robot - A Sneak Preview
I don't normally mention forex robots very much on this blog, but there's been a lot of hype surrounding the upcoming launch of a new robot called USDBOT, so I thought I would bring it to your attention.
You can find out more about the USDBOT robot by clicking here and downloading the free report, but here's a quick run-down of some of the main features of this particular robot:
- Trades EUR/USD and USD/JPY pairs.
- Has built in neural technology that adapts to new market conditions.
- Designed by professionals.
- Completely automated.
- Takes less than 5 minutes to install.
- Live trading results updated every 15 minutes (after product launches).
I don't really have any experience of forex robots at all, so I can't tell you how profitable the USDBOT actually is. However I understand that the free report gives you past results from the last few years, so this should give you some idea of how good it is.
Forex Trading for beginners
The Web Client Terminal for MetaTrader 4 provides the exact same functionality as the desktop windows downloaded version.
You can run Expert Advisors in it. You can analyze charts. You can place trades. Everything! And you can do so from any iPhone, Mac web-browser, linux web browser or any internet cafe in the world! By using a web client terminal there is no need to download the MT4 Client Terminal anymore on your machine. You can trade just by using any Web Browser that is Java enabled.
Using the Boston Technologies Web Client Terminal for MetaTrader 4 you can trade on:
• Firefox
• Internet Explorer
• Safari
• Chrome
• iPhone
And many other platforms.
The entire Client Terminal functionality is there: Charts, trades, net position — everything!
You can run Expert Advisors in it. You can analyze charts. You can place trades. Everything! And you can do so from any iPhone, Mac web-browser, linux web browser or any internet cafe in the world! By using a web client terminal there is no need to download the MT4 Client Terminal anymore on your machine. You can trade just by using any Web Browser that is Java enabled.
Using the Boston Technologies Web Client Terminal for MetaTrader 4 you can trade on:
• Firefox
• Internet Explorer
• Safari
• Chrome
• iPhone
And many other platforms.
The entire Client Terminal functionality is there: Charts, trades, net position — everything!
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