Forex Trading 101

I have some Euro coins and a 100 Danish krones bill. I search all over the Internet, but I couldn’t find anything that I was looking for. Most of the stuff was business related, but I’m not even old enough to drive a car yet. Can you help me with this? Oh, and can I just go to the post office (I live in the US so I’m not sure)?

Look for a "foreign exchange office" in your city. Google and/or phone book.
I doubt they will take coins. 100 Danish Krone bill is worth close to 20 USD,
at the current rate (xe.com) but expect them to take some as comission esp
as it is more than likely not a currency they have much demand for. What you
may want to consider is trying to sell the Euro coins on craigslist and/or ebay.

if you want the banking cartels out of business that literally enslave the people by not allowing enough base money in circulation to pay back the interest all the money loaned out why do liberals not support allowing the market to choose what is money. Today if you use something other than the dollar as currency you will be put in jail. This would immediately put an end to the wealth transfer from the banking cartels and restore the middle class.

You know what would restore the " Middle Class?" Giving us the ability to work and to keep the money that we make. But, noooo, We make up the largest portion of American taxpayers, although we don’t pay the majority of the taxes, we just have more ways for the Government to stick it to us, because we don’t have write offs or tax loop holes.

Yes, well actually it’s not software, but it’s the world’s largest site for Forex strategies, right here: http://tinyurl.com/3tcla4v

I would suggest you follow these steps:

1) Start with a demo account at that site.
2) Follow at least 10 strategies, but I recommend you follow the maximum 20, as this gives you the most diversity and stability. More strategies = more stability.
3) Trade at least 1 or 2 months with profits before you go live.
4) When you go live, don’t put all your money in it. Start with as little as possible, with the smallest micro accounts, but where you do have enough funds to follow all the strategies so you get the diversity benefit.
5) Get a months profit on the small funds before you begin to add more funds. Gradually add funds, waiting a month between each increase. This gradual entry helps avoid any way you could lose all your money simply from an initial miscalculation. You can’t lose money you don’t put in.
6) The key to Forex trading is good strategies (which the above site will give you), and then small lots (don’t over trade), and getting in very carefully. Also be sure to frequently monitor your strategies you are following, and remove any that begin to perform poorly, and replace them with better performing ones. It’s a small amount of work, but I do recommend doing it once a week to keep things optimal.

Remember, the key to the Forex is not getting in, but STAYING in. Not how fast you get your money into it, but how long your money stays in. Patience and small lots are paramount. Feel free to private message me if you have any questions.

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Economist argue that when exchange rate decrease, the inflation increase in local market. I don’t get the link this two factors. can you explain?

There are two possible causes.
1. exports increase so that there are less goods left in the country.The domestic price increases.
2. imports are more expensive, especially oil.If the country’s consumption of oil like this,it is likely not avoidable.

Guys… I had searched many way to get free signal of forex trading. All are driven me to the same point, that is paid one. As a newcomer in this trading, It wud be a huge help to get that guideline.. Any experienced one here in this field..?

try dailyfx and forexfactory sites.

Hi

1. Generally speaking, what are the fundamental factors you look out for when trading a currency pair?
e.g. USD/JPY?

2. Wouldn’t this be generally useless if you’re day-trading? Unless you’re trading at the point in time when the news emerges.

3. Is TA sufficient to do well day-trading?

thanks

The only fundamental things that are powerful enough to move the Forex are things that are calamities that are on CNN 24/7 for several weeks. For example, speaking of USD/JPY, look at it on a daily chart starting when the tsunami hit Japan and thereafter, it went down for a while. But as soon as it was old news and people stopped talking about it, well, it went back up again, from what I remember anyway.

To be successful with the Forex, you need two things strategy-wise…
1) You need a strategy. They are NOT as hard to come by as people suggest, in fact, you can select from a list of 8000 of them right here: http://tinyurl.com/3tcla4v
2) Then you need good money management. Even with the best strategy, if you trade too large of lots, or you do poor money management (aka impatience, greed, etc) you’ll blow your account.

I suggest that you open a demo account at the above link, and add ALL of the top 20 strategies to it, and let the demo run for a month or so. If it does well after a month, you can then weed out any of the strategies that didn’t do so well at that point. I suggest following multiple strategies rather than just one, because more strategies = more stability. Any strategy can go bad at any time, no matter how good it’s done in the past. But following multiple good strategies means that if several go bad, you’re still in the green.

If it does well after a month or two and you are ready to go live, then I highly advise you to NOT put a large amount of money in to start. If you have a lot of money, put it in gradually. Start with around $2000, and then let that go for a month or more. IF it is in the green after a month, then add more money if you wish, and gradually increase the lot sizes as you gradually add more money. Never add money in if it has lost money. In other words, never add money to make up for a loss. If the account has a loss, it must make that loss back on it’s OWN, not by YOU adding your own money in! And that takes a lot of patience because some times it can take it a while to make it back, and during that time, you have to wait. So patience is key. But For example, if you have a hundred thousand dollars to put into the Forex, I would say it should take you 6 months to a year to get it all uploaded into the Forex. Because you start with 2k, then let than run a month. And if it does well, then you double it, and let that run another month. And if that also does well, then you double it again, etc. It’s much safer that way, because if you do some horrible miscalculation, most likely you’ll have the loss early when your account is just $2000, rather than lose your whole $100,000!

Also, be sure to go with a no dealing desk broker, like FXCM. I hope all this info helps. If you have any questions, you are welcome to private message me anytime.

What function does the currency market perform?

The same function as any other market. It is a place where people who want to buy something meet people who want to sell something. In the supermarket you want to buy bread or milk in exchange for dollars and the grocer wants to sell the bread and milk. In the currency market, someone wants to buy Yen or Euros in exchange for dollars, and someone else is willing to sell Yen or Euros. Thus the currency market facilitates international exchange, because you may need euros to buy products from a French or German company, and someone else needs your dollars to buy products from a US company or to pay debts denominated in dollars.

for long term and intraday?

what do you think and how?

Both are ridiculously hard to be successful in. Long or short term. Trade stocks successfully for 3-5 years & then consider these markets.

China has been demanding of the EU to recognize it as a market economy. The same was asked of Brazil and several other countries but none has relented. How does China expect the world to recognize it as a market economy while it keeps manipulating its currency? Not to say of the numerous entry barriers that it has erected for the foreign players in the Chinese market.

The EU should not recognize China as a market economy.