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Tuesday, January 31, 2012
Tuesday, January 24, 2012
Big surge of buyers
Yo, how you doing guys :)
A bit update from the last month contest, well, it's been like a whole month since the last contest, which I finish second, well it's a bit sad but it's well expected since I have very slim chance to overcome the odds. But I believe that my anticipation is right about the bull move. I did notice a big surge of buyers, greatest amount of buyers I've seen in last three month and in subsequent days, an even bigger surge of buyers stepped in, which result in almost 400 pips bull move this month so far. Well, not bad if I decide to bet but since I'm on vacation, therefore no trading until very next month, I think.There's no sign of stopping, no stopping volume, no No-Demand, there's still very big demand and I believe there'll be more upmove until the charts say otherwise :)
Here's a little chart, what do you guys think?
A bit update from the last month contest, well, it's been like a whole month since the last contest, which I finish second, well it's a bit sad but it's well expected since I have very slim chance to overcome the odds. But I believe that my anticipation is right about the bull move. I did notice a big surge of buyers, greatest amount of buyers I've seen in last three month and in subsequent days, an even bigger surge of buyers stepped in, which result in almost 400 pips bull move this month so far. Well, not bad if I decide to bet but since I'm on vacation, therefore no trading until very next month, I think.There's no sign of stopping, no stopping volume, no No-Demand, there's still very big demand and I believe there'll be more upmove until the charts say otherwise :)
Here's a little chart, what do you guys think?
Thursday, January 12, 2012
How to Choose a Forex Broker
Babypips.com is where I start learning how to trade Foreign Exchange market and I believe that most aspiring traders should start there since they have an absolutely easy-to-understand, well-formatted forex school for all of trader wannabe. Not only it's easy to understand, the writer also use characters in babypips to make the school a funny place and a pleasant experience before trader step to the biggest challenge- actual trading.
Choosing Forex Broker is probably a kick-start for every wannabe, so choosing a good one is the first thing we have to do, and which's better place than babypips for a guide of "how to choose a good Forex broker".
Here's full article on how to choose a forex broker, full credit for babypips.com team, they've done an excellent work.
_______________________
With so many different choices out there, how does a Forex "newbie" pick a broker? Chances are most new traders have no idea on where to start - and that's okay! We're here to help! We have put together a simple three step process to help you find a broker that YOU think will best suit YOUR needs. You might be thinking now, "Three steps? That's it?" Yesssiirrrr!
In the first step, you will go through some of the main questions you need ask yourself when reviewing different brokers. Then you will take a look at different brokers and their available features. We have put together a comparison guide by taking some of the most frequently asked questions across the internet, and surveyed some of the most frequently asked about brokers out there, so that you don't have to.
With this guide, you can narrow your choices down and take the final step of talking with different brokers and demo trading on different platforms. Simple, right? Let's begin...
Before comparing brokers, do you know what to look for? No? Well, here are a few of the main questions you should ask yourself:
Most demo trading platforms are very similar to their live counterparts, but not exactly the same. There may be a difference in speed of execution, slippage, and platform reliability (most of the time live accounts are more reliable than demo accounts). When you do have your strategy down and you are ready to move to a live account, start off small, test the waters, and see if this particular broker will suit your trading needs.
ECN: Electronic Currency Network. Directs the client straight through the interbank market, usually resulting in tighter spreads. Most ECN's have a fixed commission per roun/turn lot.
Leverage: The use of various financial instruments or borrowed capital, such as margin, to increase the potential return of an investment.
Lot: Pack in which trading units are being sent to the market. There are 3 types of lots: mini and regular. A micro lot consists of 1,000 units units of the base currency. A mini lot consists of 10,000 units of the base currency. A regular lot consists of 100,000 units of the base currency.
Margin: The amount of equity contributed by a customer as a percentage of the current market value of the securities held in a margin account.
Market Maker: Middle-man between the interbank market and the retail user. The interbank liquidity provider charges the market maker a small commission for providing access to tradeable volumes. The market maker also charges commission to its clients (in the form of spread, direct commission or both) to provide them access to tradeable prices in the currencies market.
Pip: The smallest price change that a given exchange rate can make.
Spread: The difference between the bid and the ask price of a security or asset.
STP: Straight Through Processing. It is the complete streamlining and automation of an entire transaction. In other words, as soon as a trade request is made, there's no manual intervention — gone is the to and fro of phone calls and faxes to authorize, confirm and settle trades. No manual intervention also, of course, leaves no room for human error.This allows traders to place orders that match off electronically with a broker's bank feeds without interacting with a “middle man” whose job is to try to make money trading between customers.
[Source: babypips.com]
Choosing Forex Broker is probably a kick-start for every wannabe, so choosing a good one is the first thing we have to do, and which's better place than babypips for a guide of "how to choose a good Forex broker".
Here's full article on how to choose a forex broker, full credit for babypips.com team, they've done an excellent work.
_______________________
With so many different choices out there, how does a Forex "newbie" pick a broker? Chances are most new traders have no idea on where to start - and that's okay! We're here to help! We have put together a simple three step process to help you find a broker that YOU think will best suit YOUR needs. You might be thinking now, "Three steps? That's it?" Yesssiirrrr!
In the first step, you will go through some of the main questions you need ask yourself when reviewing different brokers. Then you will take a look at different brokers and their available features. We have put together a comparison guide by taking some of the most frequently asked questions across the internet, and surveyed some of the most frequently asked about brokers out there, so that you don't have to.
With this guide, you can narrow your choices down and take the final step of talking with different brokers and demo trading on different platforms. Simple, right? Let's begin...
Step 1: Do your research
Before comparing brokers, do you know what to look for? No? Well, here are a few of the main questions you should ask yourself:
- Is this broker registered with any regulating authorities? Check to see if your broker of choice is registered with the National Futures Association (NFA) or Commodity Futures Trading Commission (CFTC) if they're based in the US. If the broker is based in the United Kingdom, check with the Financial Service Authority (FSA). If the broker isn't registered with any of these or any other recognized regulating firm, then you may want to think twice before signing up with them.
- Dealing Desk or Non-Dealing Desk broker? Does the broker offer fixed or non-fixed spreads? How wide are the spreads? These questions are more significant to those traders who like to take quick profits on a few pips. Large and/or variable spreads can cut into the profits of this type of trading strategy.
- How much or how little leverage will a broker give you? We highly recommend you review "Leverage the Killer"before deciding on how much leverage would be suitable for your trading style. The phrase, "Less is More," can save every newbie
- Of course, you’re not going to start trading with real money right away, right? Well, when you do having a winning strategy and you are ready to trade live; knowing how much risk capital you have to start with makes a big difference. If you have $2000 or less to start with then you probably want to start trading "micro" lots. Not every broker has this feature.
- Does this broker credit or debit daily rollover interest? Some brokers either do both, deduct interest, or neither. This information is important to traders who hold positions overnight.
- Does this broker over premium services such as charting, news feeds, and market commentary? How important are premium services to my trading?
Step 2: Compare brokers
Let's not beat around the bush, now you need go to Broker Comparison Guide.
Step 3: Open demo accounts and ask questions.
Pick at least two brokers that fits most of your criteria and open up demo accounts. Trade in different market environments. Learn all the different features of each trading platform. If you have questions, don't be afraid to ask. Many brokers have excellent customer service support and would be happy to answer your questions.
Most demo trading platforms are very similar to their live counterparts, but not exactly the same. There may be a difference in speed of execution, slippage, and platform reliability (most of the time live accounts are more reliable than demo accounts). When you do have your strategy down and you are ready to move to a live account, start off small, test the waters, and see if this particular broker will suit your trading needs.
Glossary
Broker: Common name used to define, generally, firms that act as the middle-man in the financial markets. There are two types of brokers, market makers (dealing desk) or ECNs (non-dealing desk).ECN: Electronic Currency Network. Directs the client straight through the interbank market, usually resulting in tighter spreads. Most ECN's have a fixed commission per roun/turn lot.
Leverage: The use of various financial instruments or borrowed capital, such as margin, to increase the potential return of an investment.
Lot: Pack in which trading units are being sent to the market. There are 3 types of lots: mini and regular. A micro lot consists of 1,000 units units of the base currency. A mini lot consists of 10,000 units of the base currency. A regular lot consists of 100,000 units of the base currency.
Margin: The amount of equity contributed by a customer as a percentage of the current market value of the securities held in a margin account.
Market Maker: Middle-man between the interbank market and the retail user. The interbank liquidity provider charges the market maker a small commission for providing access to tradeable volumes. The market maker also charges commission to its clients (in the form of spread, direct commission or both) to provide them access to tradeable prices in the currencies market.
Pip: The smallest price change that a given exchange rate can make.
Spread: The difference between the bid and the ask price of a security or asset.
STP: Straight Through Processing. It is the complete streamlining and automation of an entire transaction. In other words, as soon as a trade request is made, there's no manual intervention — gone is the to and fro of phone calls and faxes to authorize, confirm and settle trades. No manual intervention also, of course, leaves no room for human error.This allows traders to place orders that match off electronically with a broker's bank feeds without interacting with a “middle man” whose job is to try to make money trading between customers.
[Source: babypips.com]
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