A brief introduction to the TrendStuffer.com Trading System. High probability forecast of future price moves.
Duration : 2 min 7 sec
Learn Fx Forex Trading for Profit
A brief introduction to the TrendStuffer.com Trading System. High probability forecast of future price moves.
Duration : 2 min 7 sec
I am trying to buy and hold some foreign currency. I currently only have a checking account and an online savings account, both in US and for US dollar only.
What is the best way (i.e., safe, inexpensive and easy) for me to buy and hold a particular foreign currency (e.g., Japanese Yen)?
I am not looking to trade foreign currency very often. Just buy and hold. Any expert or experienced folk out there?
Is the internet the only way to invest in foreign currencies?
I would try an international bond fund:
http://www.troweprice.com/common/indexFundFacts/0,0,ticker=RPIBX,00.html
But why now? The dollar is at historic lows. Should have done this 3-5 years ago. With the dollar so low now and foreign currencies so expensive, why would you do this now?
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Copyright 2005 Timothy Rohrer
One of the easiest ways to make money online today is to learn
e-currency trading. Many people have spent countless hours
looking for the perfect program that will make them a
millionaire over night. The truth is, these programs do not
exist. Electronic currency exchange allows people to make a
long-term investment that can yield substantial profits in years
to come.
There are a number of courses available online that can help
anyone get started and become successful in the currency
exchange market. These courses offer essential resources and
techniques that will help even the novice user make the most of
their investment.
The first thing one would do if interested in getting started in
e-currency trading is to open a portfolio. After the creation of
their portfolio an initial investment is then made. The
portfolio will receive daily gains of anywhere from 2.% to .4%.
Therefore on a $1,000 investment a user can expect to profit
very close to $5 per day. Over the course of a year it is not
uncommon to turn an initial investment of $1,000 into a $50,000
portfolio where they will realize profits of $200 a day.
The most recent course that I have looked at has been the Mazu
course. The course provides one on one phone support, conference
calls, chat rooms, forums, and a beginner and advanced course on
how to trade in the e-currency exchange market. After having
reviewed the Mazu program it turned out to be a very helpful
legitimate program.
Sure it is, check out Easy Forex:
http://www.easy-forex.com/Gateway.aspx?gid=12846&bid=30
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Best way to learn how to trade is to open a demo trading account.
I would also recommend these books:
- market wizards, jack schwager
- trend following, michael covel
- beyond candlesticks, steve nison
- market maker's edge
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The Euro responds very well to US economic news releases. There is at least one US news release each week when the market moves very fast and is an excellent (although stressful) way to make some quick big pips. One way to capture these large moves is to use ENTRY STOP ORDERS.
Entry stop orders are an excellent way to get into a trade long or short AUTOMATICALLY. Often if the market is moving extremely fast (due to an economic news release or geopolitical event) and you want to get into a trade, it is extremely difficult to get the price you click (live market order) because the exchange rate is moving up or down so fast. It is like trying to jump on a train that is moving at full speed.
An entry stop buy or sell order places an order with the dealing desk of your Forex clearing house to execute your order when the exchange rate touches the level you set the order at.
The only time I wouldn’t set an entry order would be on a Friday afternoon before the market closes for the weekend. When it re-opens on Sunday evening, the price may gap open and miss your entry order.
Nevertheless, we don’t recommend holding a trade open over the weekend anyway….too much can happen on a world level that can affect the price when the market re-opens….and not always in your favor!
The following Yahoo page outlines the economic news releases for the week. I find it very helpful because it rates every release in terms of importance on a grading scale of A-D. A denotes very important down to D with little significance to the markets. It even lists what the market expects to happen with the briefing.com forecast. I take the time on the weekend to make a note of the day and hour of the major US news releases scheduled for the next week.
1. Check the biz.yahoo.com/c/e/html economic Calendar
2. Set your entry stop buy or sell at a key level 15-30 minutes before the announcement is released. Set your stop and limit on your order by right clicking the order when it appears on your VT platform.
3. You can also “straddle” the price movement by placing a long and short entry stop or sell order (and subsequent stops) if you aren’t sure which direction the news release will send the price.
In actuality, “straddling” a trade is the most risk-free and stress-free way of trading the news. You have to practice it in a demo account to get good at it because very quickly, you’ll be closing out the losing leg.
Another trading technique would be to simply wait 5 or 10 minutes before putting on a trade after a major news release. Wait for the smoke to clear and the way to see the direction. The volatility will move the market for 30 minutes to a few hours in one direction. Put on your trade in a fast 5 min chart but then switch to a 15 minute chart to stay in the trend longer without prematurely exiting.
An easy way to trade is to only trade the major US news releases….the rest of the trading week can pretty dull, in comparison!
Remember, under all trade circumstances, trade with a stop. And keep moving it in your trade direction by about 15 pips at a time, to lock in ever-increasing pip profits! This stop trailing technique is taught in our Advanced forex course.
The above report was taken from the Euro Fractal Trading system, written by Erol Bortucene of the Day Trade Forex Team.
This unique approach to day trading the EUR/USD involves using financial Fractals and no other technical indicators, as outlined in the Euro Fractal Trading System.
Byline: Erol Bortucene and Cynthia Macy are co-authors of ‘The Day Trade Forex System: The Ultimate Step-By-Step Guide To Online Currency Trading’.