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More On Forex Brokers Scams

April 22nd, 2009
by Hass67

You as a retail forex trader need to understand that forex brokers are in the end above all marketing machines. Since more than 90% of the new traders dont survive long and give up trading after losing their hard earned money, forex brokers need a constant flow of new clients.

To entice new traders, vast sums of money are spent on advertising. Just Google, any keyword related to forex and you will find so many ads by forex brokers giving you so many incentives to start trading forex.

Forex brokers want you to trade more. They use many methods as incentives to make you do that. One of the methods is to hold a Forex Trading Contest by announcing cash prizes of $2000, $1000 and $500 for the top three.

In order to win, many small traders get wiped out losing their money. This is just a trick forex brokers use to make you trade more. The more you trade, the more money your broker makes. This trick is similar to a lottery.

There is no check on the forex brokers. They can quote any rate to you. Forex brokers do this by adding 2 3 or even more pips to the interbank market pip spread

Just imagine by acting only as middlemen between the interbank market and retail forex trader, forex brokers make risk free profits of 3 to 4 pips on a round trip trade.

There is a practice used by forex brokers called Price Shading. For example, if the broker is convinced that Euro is on an uptrend and its price is going to rise, the broker will shade his price quote slightly higher to take advantage of the likely increase in Euro price.

If the broker sees that many traders have placed stop orders at a certain price level, he will mount a sudden attack to take out all the stop order by momentarily spiking his price feed.

You cant do anything. It was a momentary spike, so small that it only tripped the stop losses.

Since, there is no central exchange to compare moment by moment prices, your broker can offer any excuse like there was sudden large order in the market or the broker feed is much faster and reflects true interbank rates.

About the Author:
Mr. Ahmad Hassam has done Masters from Harvard University. He is interested in investing, stock and forex trading. Discover a revolutionary new broker buster Forex Robot. Read about Semi Automatic Forex Engine.

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Trading Forex Online Risk Free

April 19th, 2009
by Hass67

Many people want a home based business opportunity that can generate good income for them part time. During the recent stock market crash, many have burned their fingers. So, most of them are afraid of investing in stocks. People dont know that forex trading is the best home based business. Even if they know, they think that it is not them being too difficult.

Learning something new is always an effort and without a little bit of commitment you wont succeed. You will have to learn forex trading with some commitment in the beginning. But once you have learned it, you will be happy to have done so.

Always learn a new thing with commitment. Make a conscientious decision that you are not going to quit until you succeed. With this approach you are surely going to emerge a winning forex trader.

Many people stay away from forex trading thinking that they will have to lose money in the beginning in order to learn forex trading. Now, the best thing is this that you can learn forex trading without losing a single cent of your hard earned money.

Start with selecting a good forex trading course just to educate yourself about the forex markets in general, what is forex trading, forex trading method, how to enter/exit a trade, technical analysis etc,. Buy a course that comes with a money back guarantee. So, that if you dont like the course, you can ask for a refund and go for another course.

Go through the course thoroughly step by step. In my opinion, you should be able to master the material in the course in less than two weeks.

Once you have mastered the forex trading course, open a demo account. You can easily open a demo account online in five minutes. It is as easy as that.

Start practicing the strategies that you have learned in the course. Practice and practice to figure out what works for you and what does not, demo account gives you the opportunity to do so. On the demo account, you trade with fake money or virtual money but the data is real. So you are trading in the real world but using fake money.

As you have been practicing with fake money, you are not losing your real money but you are getting valuable practical experience of trading forex. Since you are no using real money, you are not going to lose even a single cent of your hard earned money but you will be getting valuable experience trading forex. Now many people have stopped trading forex manually. They trade forex on autopilot with a robot.

The development of Metatrader platform by forex brokers opened up the possibility of developing programming scripts known as forex robots that could trade forex on auto.

In the last two years, a number of very good forex trading robots have hit the market. A few of them are very good. Do your research and select one. Buy a forex robot that comes with a money back guarantee. Install it on your Metatrader demo account. Let it run for a few weeks. See its performance.

Only buy a forex robot that gives you a money back guarantee. This will help you test it by installing it on your Metatrader demo account and running it for a few weeks. If after a few weeks you find that it has multiplied your money, keep it. If it has not multiplied your money or has given you a loss, simply ask for a refund. Since, you have been using fake money; you are not losing a single cent of your hard earned money.

Dont you like this risk free method of trading forex? Why dont you give it a try? Forex trading is the best home business. Dont miss it! You can start trading forex with $300 or even less so dont hesitate to try it. It may make you rich!

About the Author:
Mr. Ahmad Hassam is a Harvard University Graduate. He is interested in investing, stock trading and forex trading. Discover Forex MegaDroid-A Revolutionary New Forex Robot.

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London Forex Rush Strategy

April 17th, 2009
by Hass67

Forex market is a totally different beast as compared to the stock market. Stock market is open only for a fixed times usually from morning to the evening. After that it closes and trading stops. But forex markets never close. They are open 24 hours a day, 5 days a week except on weekends.

This continuous 24 hour trading makes forex markets somewhat confusing for the beginners. Forex is traded Over the Counter (OTC) and there is essentially no open and close of the market, many new traders find it hard to adjust.

Now, how to provide a open and close session for each day so that you dont have to sit in front of your computer all day getting yourself exhausted. An ingenious way is to divide the day into three eight hour session.

Divide each session into two by using 4 hour charts. Since only three major money centers are responsible for most of the turnover in the forex markets, this will help you to see each regions risk appetite and make your trading day more manageable.

The three major money centers that affect the forex markets everyday are namely: Asia, London and New York. We will call our three trading sessions, the Asian, the London and the New York Session.

Asian Session: Most of the turnover in this market session is handled by Sydney, Tokyo, Hong Kong and Singapore. Main players are the commercial exporters and the respective central banks. Since most of these central banks are in competition with one other, the price action during this session is jumpy and unsustainable.

London Session: London is still the forex capital of the world with deep and highly liquid forex market. Paris, Geneva and Frankfurt also are players in this session. The moves that originate in this session are very important keeping in view the amount of money needed to move a market this deep. These moves give you a lot of information about the market sentiments and positions.

New York Market Session: New York is second to London. Both New York and London overlap in the morning when New York is opening and London is closing. This is the best time of the day for savvy traders to trade as there is a lot of price action during this time.

These timings are important for you to know: 00:00 GMT-Sydney starts trading. 11:00 GMT-London trading starts. 15:00 GMT- London trading becomes very active. 17:00 GMT- London trading is active and New York trading opens. 18:00 GMT- London and European trading closes! 19:00 GMT- New York and Chicago traders getting ready for a close!

The overlap between London and New York is when major price moves take place. London is in fact the trend setter in forex as well as fashion.

About the Author:
Mr. Ahmad Hassam is a Harvard University Graduate. He is interested in Options and Forex Trading. Discover a revolutionary new Forex Robot.

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Fundamental & Technical Analysis for Forex Trading

April 16th, 2009
by Hass67

People are leaving stocks and turning towards forex in droves. Forex trading is the new fad. Many new gurus have appeared who are paddling their forex trading courses to the general public. If these gurus had made their fortunes from trading forex they need not sell courses. These gurus are only making money from the sales of their course.

According to these gurus, forex trading is easy. Buy the course and everything will be explained in an easy and step by step manner. These gurus are only selling their courses. No doubt, internet has made forex trading possible from anywhere in the world. But is it easy.

No guru will ever tell you that only 5% of the new traders ever succeed in the long term. 95% will quit after a few months or within a year. Forex markets are like a battlefield. Only the best survive. There is no room for inexperienced traders. Forex markets are brutal and unforgiving to those who dont know how to swim.

Why 95% of the new traders fail? Simple, because they assume that by reading one or two eBooks, they will understand forex markets. Forex markets are far more complex and complicated to understand in one or two eBooks. You cannot succeed at forex trading until you start living and breathing it.

I am not saying that you should not trade forex. What I mean is that if you are serious about forex trading then learn it properly first. Try to understand how forex markets work. What are the factors that move the currencies in the markets? How can you predict market movements?

Learn fundamental and technical analysis. Some people say both are exclusive and require different strategies. But I say both supplement each other. Fundamental analysis can help you predict the general trend in the forex market in the medium to long run. Fundamental analysis studies the underlying economic factors that affect the currency markets.

Technical analysis studies the past behavior of prices to predict the future behavior of prices. You need to master technical analysis if you are thinking of becoming a day trader. Technical analysis is ideally suited to forex markets.

Technical analysis uses a number of indictors to predict the movement of currency pairs. Understand how to properly use these indicators to determine whether the market is trending or ranging and what is the best entry/exit.

If you have been previously trading stocks than you can switch to forex trading much faster. But always remember as long as you dont make forex trading passion of your life, you wont succeed at it. Learn everything about forex, make it a passion and you will develop into a winning trader.

About the Author:
Mr. Ahmad Hassam has done Masters from Harvard University. He is interested in investing, futures and forex trading. Read about Forex Profit Accelerator. Know more Forex Strategies.

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Forex Options Trading Strategy

April 14th, 2009
by Hass67

Have you heard about George Soros; The legendary manager of Quantum Hedge Fund who had made a cool $1 Billion profit from a single bet. In the early 1990s, one day he was sitting in his office discussing currency markets with his associate. Both of them were of the opinion that the British pound was overpriced and Bank of England could not sustain its price for long.

Acting on his hunch, he told his associate to purchase $10 Billion put and call options on British Pound and German Mark. It was a huge bet. He was in fact swaggering all the assets under his control on a single bet that may or may not pay off.

George Soros had perfect knowledge of the currency markets. He was sure of his bet and had the conviction that the Bank of England could not prop the overpriced British pound for long. His conviction was shared by other currency speculators. The only difference between him and them was the huge amount of the bet he placed. Bank of England was forced in just of 24 hours to take the British pound out of the European Monetary System and let it float freely. His gamble had paid off.

The value of British pound plunged. George Soros gamble paid off. He is now famously called the Man who broke the Bank of England.

Daily more than $3 trillion are transacted in the currency markets. You as a forex trader can profit from the volatility in the currency markets using a number of methods. Forex options is one of the methods

As a retail forex trader you can trade any of these contracts: spot, futures and options. Forwards and swaps are two contracts that are also traded in the forex interbank market between large institutions like banks, corporations and hedge funds.

What are forex options? Options are derivative instruments that allow you to buy or sell an underlying asset at a price known as exercise price before or on a certain date called strike date. There is no obligation on you to actually buy/sell the currency like that in futures.

Currency is the underlying asset in forex options. You can purchase a forex options on payment of a certain premium. This is the price that you pay for getting the right but not the obligation to buy/sell a certain currency.

You may or may not exercise your right to buy/sell the currency. If the market price of the currency is above/below your strike price, you can buy/sell that currency by exercising your option.

However, in case, the currency market price is below/above the strike price of the forex options; you need not exercise your right to buy/sell. By not exercising the forex options contract, you only lose the premium.

There is a very good forex options strategy that lets you profit from the currency markets in whatever direction it is moving. You can profit regardless of the direction of the market.

This method is guaranteed to give you profits with an ROI of 30-50%. Try this method. It is risk free.

About the Author:
Mr. Ahmad Hassam has done Masters from Harvard University. He is interested in investing, options and forex trading. Read more about Forex Options Non Direction Trading System. Discover a revolutionary new Forex Robot

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Are Great Traders Made?

April 13th, 2009
by Hass67

The question is can anyone become a winning forex trader? Yes anyone can in my opinion. The only thing that is required is a winning trading plan. If you have not developed a good trading plan than dont enter the forex market. First develop one. Forex markets are not going anywhere. These markets will be there next year and after that. Enter only when you are prepared.

Let me tell you about a great experiment in history. This experiment is a perfect example of developing and then implementing a winning trading plan. This experiment was known as Turtle Traders Experiment.

Richard Dennis and Bill Eckhardt were two great traders and partners who were arguing one day on whether great traders are born or made. This was the year 1983. Both were commodities speculators.

Bill was saying that great traders could only be born and not made. Richard had the opinion that great traders could be made through good training. To settle the argument, both agreed to select and then train a few traders to see the trading results after training.

An advertisement was placed in New York Times, Barrons and The Wall Street Journal. 1000 applications were received in response to that advertisement. The Turtle Trading Experiment had started.

Only 13 applicants were selected after shortlisting and interviewing 80. Those selected were known as Turtles.

The turtles were given training and a complete trading plan based on rules on how to apply it. Richard would always emphasize to the turtles that he could give these rules to anyone but these rules were useless unless they were applied consistently.

So, the actual success in trading whether forex, stocks, commodities or futures lies in having a good trading plan; You need to have a trading plan that is exact. In other words is mechanical and ruled based does not depend on your emotions. Learn to control your emotions in trading.

In the end, it is discipline and consistency that will make you a winning forex trader in applying your trading plan. Who says, you cannot become a Great Trader!

About the Author:
Mr. Ahmad Hassam has done Masters from Harvard University. He is interested in Options, Futures and Forex Trading. Download Turtle Trading Rules.

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Internet Marketing Hobby

April 12th, 2009
by Hass67

Many people want to succeed at internet marketing. Everyone knows that making money online is the best method to work from home part time. If you take internet marketing as a hobby, you will enjoy it and also make money. Trust me, internet marketing is fun.

But then why do many people fail at it. Simple, they lose their focus too soon. Start jumping from one bandwagon to another. Never stick with one thing. In the end, lose money and quit, thinking that internet marketing gurus are wrong.

Now, in my opinion if you want to succeed at internet marketing, then in the beginning, you should avoid those programs that ask for membership fees but give no money back guarantee. In the beginning, start with a shoe string budget!

One of the best methods to make money online is through blogging. Yeah, many people blog as a hobby. They write very interesting and informative posts on topics they are passionate. Over time, people start visiting their blog. Number of daily visitors increase.

When people start visiting your blog, you are on your way to making money online. Look for an affiliate program that is relevant to your blog. Disply the offers on your blog. People will click on them. You will start making money.

This is a free method. But many will ask how long it will take? If you are passionate and write at least one post daily, not more than two months! But many people want to succeed in days what to talk of weeks.

When you start your blog, think that you are doing it as a hobby. Write on a topic that you enjoy and makes you passionate. If you are interested in sports, start writing on sports. Talk about your favorite players, major tournaments. With the passage of time, people will start visiting your blog.

Become a Blogger! Yeah, Google loves you to blog. You only have to write. Google will take care of the rest of the things like domains, hosting, content management for free. Isn’t it great!

Google is in love with its Bloggers. Write a post daily, Google will start loving your blog. Your blog will be indexed by Google in minutes. It will get high search engine ranking. You will start getting free traffic from Google. Millions of people visit Google daily. Imagine, how many will visit your blog.

This was the method that I had used to succeed at internet marketing. I used my passions to make money online. I started my blog as a hobby. Wrote on a topic that I enjoyed. In a few months, Google was in love with my blog. I get hundreds of free searches on Google.

Yeah, it took me a few months. But it was a journey of fun. I enjoyed writing every posts. It would give me pleasure to write on a topic that had my passions. I never gave more than 2 hours to my hobby.

In fact, there are many methods to make money online. This is one of the methods. In the end, when you succeed with one method, diversify your income stream by adding new methods to your make money online hobby.

About the Author:
Mr. Ahmad Hassam is a Harvard University graduate. He is interested in internet marketing as a hobby. Discover Maverick Money Makers. Read his blog for more methods on Making Money Online.

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