Dirty Forex Secrets

Archive for January, 2010

Forex Secrets: This 35-Year Trader Was Losing Money Hand Over Fist Until He Discovered This One Weird (But Legal) Trick. CLICK HERE to Learn His Shocking Discovery!

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Forex for Dummies

Ok, here is the bonehead 101 class on Forex trading you’ve been looking for. Forex for dummies is in session. Ok, let’s say you had a some US dollars (USD) in your hand and you wanted to trade it in for one unit of European money which is called  a Euro (EUR). You go to your local bank or currency exhange place at the mall to make your trade. You look at the exchange chart and find out that the current rate of exchange for US Dollars to Euros looks something like this EUR/USD=1.4000. What the heck does that mean? That means that one Euro equals $1.40 in US Dollars. So one Euro would set you back $1.40. So, you cough up the amount and buy yourself a Euro. Congratulations! You just made a foreign currency exchange or “Forex” for short.

Now, let’s say after a little while that the little Euro in your hand went up in value on the Forex chart like this: EUR/USD=1.6000. Now your Euro is worth $1.60 in US Dollars. You can now exchange that Euro back for US Dollars and make yourself a cool 20 cents in profit. Now I’m sure you can imagine if you bought a whole bunch of those Euros and then sold them back for Dollars. Since this is a Forex for Dummies report, I won’t go into too much math. But that’s how international banks have been killing it for years. Only recently due to the internet has that power been handed to you and me.

Now to break down some shop-talk that gets thrown around in the Forex world and let’s do it Forex for dummies style. The EUR/USD example above is what is known as a “currency pair”. It pairs one nation’s currency against another. Other common currency pairs you would see would be the Japanese Yen against the US Dollar or USD/JPY or the US Dollar against the Great British Pound or GPB/USD. The first currency in the pair is the more expensive of the pair and is known as the “base currency”. The following currency is  known as the “counter” or “quote” currency. And of course the five-digit number that follows is how much of the quote currency it takes to trade for the base currency. Each movement in a currency (like when our Euro whent up in value) is known as a “PIP” or Price Interest Point.

Of course, the whole trick in trading Forex is to buy when a currency level is low and sell it when it is high. You just have to be able to spot a good trend, ride it and sell before it goes down again. When you work with a real Forex account through a broker you are actually leveraging more money than you actually have in your account. This makes Forex trading potentially very profitable but also very risky. You could lose everything with a few small movements. That is why you should learn the ropes from a veteran successful trader and then set up a free demo account at a online service like Easy-Forex before you start playing with real money.  So I hope this Forex for Dummies report was helpful and I know you’re not a dummy because you made the smart decision by stopping here. Now, don’t forget to grab your FREE ebook in the upper right hand corner.

Automated Forex System

With the rate at which the Forex market moves, it seems that you have to constantly babysit your Forex account in fear of missing a big trend or taking a huge loss. This can also take a heavy toll on your nerves as you watch the profits and losses go up and down. Plus the Forex market is open 24 hours a day 7 days a week. There is no way you are going to be able to monitor it all the time and your big opportunity or big loss could take place at 3;15 am. Ouch! But of course with the advent of computer technology comes the automated Forex system also known as the Forex robot.

Now to answer the big question: “does an automated Forex system guarantee big profits?” The answer, in a word is no. Even the most skilled Forex trader in the world can’t do that. Trading in the Forex market will always be risky whether you do it manually or use a robot. What an automated Forex system does is makes the trades that a professional trader would make based on back testing. This is the practice of looking at historical data  in the market and seeing how a certain strategy would perform through that time period. The more popular and successful systems back test for several years. For example, the most popular automated Forex system, FAP Turbo has been back tested for ten years. The vast majority of these automated systems are based on back testing. The longer the back testing, the better but systems solely based on back testing can have their drawbacks. More on that later in this article.

The most sophisticated automated forex system will not take huge risks for obvious reasons. It will make trades based on small movements to make smaller but steady gains rather then trying to hit a home run and risking your entire account in the process. It will also have some sort of stop/loss system in place to cut your losses in case the market takes a big dip. It will also give you the option of either using it on your own computer or using it on a provided server. the advantage of using the provided server is that you do not have to keep your computer on for the software to work like you would if you used your own machine. An obviously you would want a good support system for any questions or concerns that come up along with a money back guarantee if the system doesn’t perform as well as advertised.

As stated earlier, almost every automated Forex system relies solely on back testing results as proof of their profit-making ability but these systems often fail when applied to a live account. The only automated Forex system that I am aware of that offers live proof of it’s profit potential is FAP Turbo. FAP Turbo displays live results on their web page that is based on a real account (not a demo) with real money. You can see their live results by CLICKING HERE.

Disclaimer: The information provided on this site (dirty forex secrets.com) is presented for entertainment purposes only. It is not professional advice of any kind or a recommendation to act. The owners of this site will not be held responsible for any form of  loss that may result from the use or misuse of any information contained herein. All visitors to this site are solely responsible for their own actions and assume all risks involved.

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Forex Secrets: This 35-Year Trader Was Losing Money Hand Over Fist Until He Discovered This One Weird (But Legal) Trick. CLICK HERE to Learn His Shocking Discovery!

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How to Trade Currency

In order for different countries with different currencies to do business with each other, a foreign exchange market or “Forex market” for short has to exist. That way a business in the US can sell products in Japan and get paid in dollars instead of yen. Trading currency is basically exchanging one nation’s form of money for another. Of course, the currency of each country has a different value so you never get an even exchange. If one country’s currency goes up against another, you can exchange it and make a profit. For example if you were to buy one Euro (EUR) with US Dollars (USD) and the exchange rate of one EUR equals $1.50 in USD and then the value of the EUR went up to $1.60 in USD, you could exchange that Euro back to US Money and make ten cents profit.

Therefore, the key to how to trade currency is to buy a certain currency when it is low and looks like it is going to go up and sell it when it reaches a peak. When you look at a forex chart, you will see the currencies listed in pairs. For example: EUR/USD = 1.5000. The first currency listed in the pair is the higher value of the two and is known as the “base currency”. The second currency listed represents the lower value and is  known as the “counter” or “quote” currency. The five-digit number after the pair shows how much of the counter currency it would take to buy one of the base currency. In this example, one Euro would cost $1.50 in US Dollars. When you go into the Forex market you go in as either a buyer or a seller of a particular currency. If you happen to be the seller the price that is shown is the “ASK” price. If you are a buyer, it is shown as the “BID” price. You can only purchase currency from a seller that has an asking price as same as the bid price.

That’s basically it. That’s how to trade currency. This is what international banks have always done to make billions every year. Only recently has Forex trading been made available to the private citizen. The trick, of course is to be able to spot the trends and buy and sell at the right time. You see, Forex trading can be very lucrative but it can be very risky at the same time. You should never invest any money into it that you can’t afford to lose. The best way to get started is to get quality training on how to trade currency from experienced, knowledgeable and successful traders and then sign up with a Forex trading service that offers a free demo account like Easy Forex so you can practice the techniques that you learn and get a feel for how to trade currency before taking the plunge with your own money.

I hope this article was helpful. To the right of this page there are also some other helpful and free articles that you can get more information on how to trade currency including free Forex news that shows you the condition of the market on a daily basis.

STOP! Avoid devastating mistakes and learn the one weird (but legal) trick this pro-trader learned the hard way in this article—>  Click Here Now!

Try Out A Forex  Trading Demo for Free With No Registration Required by CLICKING HERE! (Opens New Window. Look for The “Forex Trading Simulator” on The Left)

Forex Trading Demo

As a newbie forex trader, you are now doubt experiencing a phenomena known as “information overload”. There is a myriad of books, seminars, learning materials and assorted “gurus” pointing you in one direction or another. Now, Forex trading itself is not exactly rocket science but knowing when, how and why to trade can be a little overwhelming and intimidating especially with the substantial risks involved. Successful Forex trading is a skill and just like any other skill like sports or playing a musical instrument, getting good at it takes practice. This is where the Forex trading demo comes into play.

A Forex trading demo allows you to make tons of mistakes without risking a dime of your own money. You can usually use these demos for free when you register with a Forex trading service and at least one company (as of this writing), Easy-Forex will let you try out their demo without even registering. The forex trading demo obviously offers some distinct advantages but there is also a downside to using it as well.

One such downside of the forex trading demo is that it models a standard trading account as opposed to a mini account that most beginning traders start out using. The trading strategies are going to be different on a standard account because you are dealing with higher margins which lead to higher profits with less movement. Another thing to consider is the emotional aspect. Losing fake money just doesn’t have the same sting as losing real funds. This can have a significant effect on your trading style when it comes to laying real money on the table. But with all that being said, a Forex trading demo is an excellent way to get your hands dirty and get a feel for how real trading works as long as you keep the above-mentioned considerations in mind.

So what is the next step? If you haven’t done so already you want to get your hands on some sort of learning materials that are put together by experienced successful traders. It is always a good idea to learn from others mistakes before learning them the hard way yourself. A good training course goes hand in hand with a Forex trading demo obviously because you can try out the techniques you are learning in the course and see how they have the potential of panning out in the real world. One such course is offered by a 35-year veteran trader by the name of Bill Poulus who was losing large sums of money until he uncovered some simple but powerful tricks that you can find out more about by CLICKING HERE.

After you have done some good studying and put what you learned into practice on your Forex trading demo, you might want to look into setting up a mini account. The risk is much lower on a mini account and you can usally start one for less than $200. You can get a very reasonable mini account at Easy-Forex where you can also try out a demo account for free. If you haven’t already done so you can check their site out by CLICKING HERE.

A Forex trading demo is an excellent way to get your feet wet in Forex trading before taking the plunge with real money.

Option Trading Software

As you probably already know, option trading can be extremely frustrating. And one of the biggest frustrations lies in not truly knowing whether a particular option has a high or low implied volatility. Because, obviously when you make the wrong guess about that, you lose money. And it is easy to make the wrong guess because the option can appear to be moving in the right direction but the implied volatility can be inflated. You have no way of knowing whether an option is over priced or under priced because it’s not listed anywhere. But imagine if you could find out in seconds the historical volatility of an option and compare it to what it should be trading at. Armed with this information, you would know whether you sould sell or buy that option. With the advancement of new technology, the ability to do just that is finally here with option trading software.

So what exactly can good option trading software do for you?

Simply put, it tells you whether an option is cheap or expensive in relation to implied volatility. It tells you where it actually is trading as opposed to where it should be trading. And this information will instantly let you know whether it is time to buy or sell a particular option which as you know is key.

Now, actually there is only one option trading software application that we found that actually does this. It is called: Volcone Analyzer PRO. This software was put together by the folks at Options University, a group of highly skilled and experienced option traders. What I liked about this software is the simplicity of it. You don’t really even have be familiar with option trading terms. You just look at where a red dot is positioned on a graph that it generates. If the dot is above the volatility lines, it’s over priced. if it is below the lines, it is under priced. It doesn’t get any simpler than that. There is no real learning curve to getting up and running with it. You don’t have to plug your way through some endless training manual or be an expert at reading charts. The software does it all for you and gives you a simple “buy” or “sell” answer.

While not being a silver bullet that’s guaranteed to make you a millionaire overnight, This one-of-a-kind option trading software tool could give you a much needed edge to making profitable trades. But the best way to see what I’m talking about is to check it out for yourself by CLICKING HERE

Forex Secrets: This 35-Year Trader Was Losing Money Hand Over Fist Until He Discovered This One Weird (But Legal) Trick.–> CLICK HERE<– to Learn His Shocking Discovery!
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Free Forex News

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