I have just opened my trading account and I am trying to decide on buying an autopilot forex trading software.
There’s a new autopilot forex trading software going to be launched and promises to be really sensational. If you want to try autopilot forex trading, go for the latest. It is likely to be sold out very fast.
http://ForexLoophole.info
I am just wondering how safe is our Investment, are there chances that they will go bankrupt or something and we won’t get our money back.
it’s been a disaster for me.
i bought shares, and they lost them. i called them, and they told me i didn’t purchase them. (WTF?) after showing them the confirmation nos., they finally believed me (weeks later).
i never recieved dividends on my securities.
the cash balance on my account was way off (somehow I had $0), so i decided to cancel my account.
i can no longer log in to the website; when i get to the second password screen, i type in my password, and nothing happens. no error message, no nothing. so now i can’t cancel my account!
there hasn’t been much they have done right. their customer support is a disaster. they closed the online support portion of the site probably b/c people were airing their dirty laundry to everyone:
http://www.zecco.com/forums/197/ShowForum.aspx
There are cached google links below of people’s complaints before they removed them from the website.
I get the impression that most trading systems available are based on combinations of indicators. But since indicators of all lagging it has been suggested that price action is a better bet.
By far and away the best info that I have found on price action trading is The James16 Group in the ForexFactory.com forums.
Im very interested in getting a Forex automatic system to trade for me.
I have heard great things about forex robots,but i have no experience with them.
Would you recommend any of them?
Thanks
There is NO forex signal company that can beat the market in the long run. This is from my experience in forex trading for years. Else everyone is rich. Here is a good read about forex signal company: http://www.forex.labuan.net/forex-signal.html
A Forex trader needs to learn and master the necessary skills to be successful in forex trading.
If a government wants to increase the value of it’s currency in foreign exchange market, it can?
Would decreasing the interest rate be a correct answer?
It will appreciate its currency. The increase in interest rate is one of the measure to induce hot money to come in.
Can I ask you, do Hindus and Buddhists participate in the stock market? I sure hope so, as my portfolio is filled with ADR’s from India that are listed in America like ICICI bank. FX is similar to speculating on the stock market. The key word is speculate–not as extreme as gamble, but there certainly is an element of chance involved, as well as the chance of gaining a large amount. And trading is a zero sum game: for you to win, somebody has to lose, be it your broker or another trader.
I’m not Hindu, I was raised Christian by very anti-gambling parents. Yet I speculate on the FX market. I don’t do evil with the money I make, and my conscience lets me sleep at night. I would think, given the number of Indian-Americans that I have met with interest in FX that it is OK, but I cannot speak since I have no idea.
Islam is unique in that you can’t earn money through interest on a loan, which makes bonds very tricky. However, India, a very diverse but religious country, has become a Global economic powerhouse. To me, FX trading is a business, just like owning a software company or a farm. Should I gain money on a trade, it is simply revenue for me. Should I lose, a business expense. If I lose all of my money, then I close up shop. If I share some of my proceeds through charity, but keep the rest to provide for my family, I don’t see the harm.
Does anyone know what license a foreign exchange trader needs… if any? I have a series 7 and 66.. what about Forex?
You can subscribe to trade on line but each country has different guidelines or directives for forex trading, also tax on earning has to be declared base on tax authority/regime in your country, your best option is to find information on what applies to your country. Also You can trade in forex without living your room or office as more trading are now done online. Good luck
If you have a simple forex trading strategy that is very easy to understand kindly share it please. No commercial products.
Asking people for a simple Forex strategy is like asking people if they have a simple method for playing poker that will allow you to win playing poker experts. There is no simple Forex strategy that works.
Forex is what we call a "zero sum" game. You are making a bet with someone else about whether a currency will rise or fall. For every winner there has to be a loser. If you are smarter than the average player, you may make money. If you are dumber than the average player, you are likely to lose money. Most of the people making the "bets" in Forex are highly trained professionals at banks and other institutions. You are unlikely to beat them at this game using a "simple" strategy.
Actually Forex is not quite a zero sum game. It’s a slightly negative sum game as the Forex broker takes a small percentage each time in the spread. It’s a small amount but over a hundred trades, it ends up being a considerable amount of money. So the average player is likely to lose money, and remember the average player is a highly trained professional and probably smarter than you.
There is a lot of luck in Forex, and if you play it, you will have some periods of time where you make money. This is usually because you are having a lucky streak, not because you have suddenly become an expert Forex player. However, most people are unwilling to admit their success is due to luck. They become convinced they have a system that works, and lose a lot of money trying to refine it.
Further complicating the problem is the large number of Forex scams on the internet. Most Forex websites are of questionable honesty. You will find many people on the Internet that claim they made a lot of money using Forex. They are usually liars trying to make money. They will say: "Go to Forexcrap . com/q2347." The "q2347" is a signal to the Forexcrap site that you are being referred to them by "q2347." If they sell something to you, "q2347" gets a kickback. These coded signals can be hidden by different methods in the link. Other people will refer you to their own private website or blog for the purpose of trying to get money off you.
I would recommend not trying to do Forex at all, unless you are a trained professional. It’s like playing poker with people better than you, with the house constantly taking a small percentage from the pot.
I have a decent amount of seed money from playing poker semi-professionally and feel I would do well in currency trading. I have enough for sign-up minimum at most online exchange sites. I need reliable and up to date information on currency trading.
If would be helpful if you post your credentials along with your answers (though no necessary)
The Foreign Exchange Market is an over-the-counter (OTC) market, which means that there is no central exchange and clearing house where orders are matched. With different levels of access, currencies are traded in different market makers:
The Inter-bank Market – Large commercial banks trade with each other through the Electronic Brokerage System (EBS). Banks will make their quotes available in this market only to those banks with which they trade. This market is not directly accessible to retail traders.
The Online Market Maker – Retail traders can access the FX market through online market makers that trade primarily out of the US and the UK. These market makers typically have a relationship with several banks on EBS; the larger the trading volume of the market maker, the more relationships it likely has.
Market Hours
Forex is a market that trades actively as long as there are banks open in one of the major financial centers of the world. This is effectively from the beginning of Monday morning in Tokyo until the afternoon of Friday in New York. In terms of GMT, the trading week occurs from Sunday night until Friday night, or roughly 5 days, 24 hours per day.
Price Reporting Trading Volume
Unlike many other markets, there is no consolidated tape in Forex, and trading prices and volume are not reported. It is, indeed, possible for trades to occur simultaneously at different prices between different parties in the market. Good pricing through a market maker depends on that market maker being closely tied to the larger market. Pricing is usually relatively close between market makers, however, and the main difference between Forex and other markets is that there is no data on the volume that has been traded in any given time frame or at any given price. Open interest and even volume on currency futures can be used as a proxy, but they are by no means perfect.
if you would like to know more about forex system using online platform then try this website
http://www.forexbio.com
When you are dealing with so much potential of risk and money loss why do you want a free service that is unlikely to give you any support or updates?
I’m not saying it can’t be found but the likelihood is there will be strings attached. Free software are always not updated and may have bugs etc and you would have no one to turn to.
The money you spend on proper software is usually quite reasonable compared to your turnover.