Can someone explain in detail how forex trading can be done from home in order to earn some additional income? Too, what is involved or needed? How much is needed as an investment?

I would check out fore forums.
Like babypips etc.
However make sure you understand every aspect of the forex game, because it is hard to earn good money if you don't know what you are doing.
Maybe another option for you is to let someone else manage your account?

Hi everyone!

I am relatively new to forex and have only just found out about all these automated forex robots and such that are supposed to really take a lot of the risk out of forex trading. There are so many though! Can anyone suggest like a good one, based on personal experience?

Thank you!

anav, A good forex system means you need to constantly have high probability trades. You also need to be aware of all the currency pairs in real time. Maybe this blog can help. http://www.whatisforextrading.com/blog/ Remember, no trading will be full proof, so be cautious about the claims some trading systems make.

I just started trading Forex pairs and I need to be able to collect price data for the last 10 time periods (hours, days or weeks) so that I can input this information into my trading platform to give me an idea on where the price of the currency pair will move next.

Can anyone tell me how to get this info into my yahoo finance page so that it updates with the movement of the currency pairs?

Any suggestions will be greatly appreciated.

Thanks in advance!!

Patrick

Hi Patrick,

I haven't seen a solution to capturing and recording actual prices for the past X time periods. You can dowload the data from piptrader.com.

A better solution might be to have a programmer crank out an EA for you that would do that for you. (I am surprised that the solution that you are using didn't think of that as part of their application rather than request you to enter 10 sets of data into a calculator).

I pretty much accomplish the same thing by simply monitoring a couple of moving averages and watching for them to to cross and both maintain a steep angle. This indicates the possible beginning of a reversal.

I would be happy to send you a summary of the moving averages that I use and how I use them. It might be interesting to compare this to the signal that you are getting from your K-F calculator……and it is free.

Paul

I am new to the forex market and am looking for a good trading system that actually works. Can someone point me in the right direction please?

Forex market or Foreign Currency Exchange market is one of the biggest trading market in the world with over USD 1.3 Trillion traded in a day. It is drawing attention ever since it is open to Online trading. Forex trading can be very profitable if you take your time to do a proper research, understanding various options and choose a system that works for you. The most used Forex trading system may not be the most suitable for your needs.

There are many different kinds of Forex Trading Systems and you need to know a few facts as mentioned below, before choosing and funding a system.

1. Testimonials: Is there anyone out there who is trying to sell a system and show you testimonials from the people who actually didn't like the system? Highly unlikely. You should do proper research before indulging into a system that is completely new to you.

2. Impression: Do not be over impressed from high percentage of winning forex trades because a 90-95% winning trades with with average value $10 gets you $900. If you have 10% losing trade and unfortunately average losing trade is $200, then your account is reduced by $2000. This is an explanation that people often tend to ignore while doing Forex Trading or any trading in general.

3. Profit: Do you want to work with a Forex Trading system that breaks even? Why? If you keep the money in your home, you will still break even, then why take all the hassles of setting up an Forex Trading account and do all the work. Really speaking, you should always do some research on how profitable a particular trading system is?

4. Drawdown: The maximum drawdown of trading system is defined as the greatest peak-to-valley drawdown in a trading system’s equity. Maximum drawdown gives us a measure of the survivability of the trading system.

5. Time to profit: The actual time it takes to achieve the results with a particular trading system. You should plan to have a long and profitable relationship with your trading system.

Try to use a trading system that let you open a Demo account so that you can practice and learn about Forex Trading without risking any money.

I have tried many of these systems in my quest to simplify my trading experience. I personally have found FreedomRocks to be the system that has worked for me. I have found no bad information on this system from anybody that has actually used it. I have found many skeptics and bashers but nothing from those that have actually tried at least the free trial they offer.

Below are a couple of links that may that I have found in my travels around the web:

http://www.yourforexinvestor.com

http://www.babypips.com

To your success,
Brandon Wells
bjwells@yourforexinvestor.com
877-773-5345

I currently dabble in the forex market and using a US broker. How will I be taxed on my earnings, and what happeneds if I lose money that year, is it a capital loss? HOw does this work in regards to canadian tax laws with the broker being in the US?

Your tax reporting for dealing with a US broker is the same as dealing with a cdn broker in that the income reporting and transactions should be translated in Cdn $.

Regarding your quesion whether your loss should be a capital loss depends on whether your "playing" in the fx market constiute an investment or a business. There are no provisions in the Act which specify whether a foreign exchange gain or loss is on account of income or capital. An investment is generally in a situation of buy and hold, while a business is in a situation when you are knowledgeable and maybe with insider information, lots of daily time spent and numerous buys and sells during the day or week, etc.

Please see the CRA’s IT-95R “Foreign Exchange Gains and Losses”. http://www.cra-arc.gc.ca/E/pub/tp/it95r/it95r-e.txt

I have been studying and practicing forex for a while and am thinking of buying this software as I have seen rave reviews about this product.As I am a newbie to forex this systems sounds simple and easy to use but i do not know if it actually works.Has anyone here uses it and does it work.Thanks your comments are much appreciated.

If you use Forex Killer as a full trading system, you'll lose money. I've test it deeply and I found that it simply doesn't work as a trading system.
You can read some reviews about forex killer at http://www.forextopten.com/forexkillerreviews.html .

You'll see some people like it and some people don't like it. For me Forex killer doesn't work and there are much better options on the market.

Good luck on your trading.

I am planning to add funds to my online FOREX account and I am wondering what would be the appropriate amount of money to start off with in the account to where I can generate enough revenue to earn an income off my profits. I know you need at least $1000 just to play in the market but that amount is not enough to make money on. What would I need to have in my account to where I can start compounding the little profits that I make here and there?

You should have at least $100,000.00 in it.

That way you don't have the extreme risk of using their 50 or 100 to one margin where you lose your entire investment if a currency drops only 1 or 2%.

FOREX Margin, just say NO!

Keen on knowing the basic points, tips and systems to get started (and move ahead) with online forex trading.

1. Open a demo account.
2. Practise on it for a month or two.
3. Get thoroughly acquainted with the platform, system and methods.
4. Try different demo acounts with forex companies online.
5. After you've trained with your demo account, move on to a real account for live trading.
6. Choose a good broker (eg InterbankFX) supporting the Meta Trader platform. Ask for one that offers a good leverage. It's your key to profiting from the forex markets.

I am a forex beginner. I've been trying different indicators to help me profit from forex trading, but most are complicated and difficult to understand. I am glad if someone out there can help me with something easy and reliable.

I have two moving averages you can use on my website and they are totally free, this would be in lieu of MACD but its all trend based. Do not apply these to one timeframe, apply these to multiple timefremes and start with the largest trend first to monitor or analyze a pair. There are screenshots there on how to set them up with on a metatrader platform and how to use the free price alarms too to monitor movement.

Go to the website and click on "complimentary trading tools" for full setup instructions.

here are the links

http://www.flickr.com/photos/24224310%40N05/

http://www.forexearlywarning.com/charts.cfm

Good Trading
Mark Mc Donnell
www.forexearlywarning.com

How can one trade forex in a manner that least resembles gambling– over what period of time can one see some logic to a forex trade?

Who are the main players that govern the price levels of currency and what effects do individual traders have?

how do hedge funds trade currencies?

Does technical analysis really work? The idea of of using tech analysis seems so silly–what is the theory behind it?

Any additional information you may have, I'd really appreciate.

The currency pairs move in the direction of the trend, you anayze trends and it will help greatly, expecially the larger trends, short term moves within the trend are based on news items and parallel and inverse analysis.

Here are some technical papers to read:

http://www.articlealley.com/article_152420_19.html

http://users.search-o-rama.com/Article272207.htm

You can also monitor support and resistance with price alarms.

http://www.easyarticles.com/article-62743.htm

Good luck with your forex joyrney.

Mark Mc Donnell

http://www.forexearlywarning.com/index.cfm