Feb 15 2010
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FRWC ( Forex Robot World Cup) Insider Report that reveals the true potential of forex robots FREE just now! I've been following everything the FRCW has been doing like a housewife does a soap opera. One thing is for sure, no fly-by-night robot peddler is going to scam any of us anytime soon. From here on out, it's the real deal or NO DEAL. Who else but the Forex Robot World Cup could have Boston Technologies and FXCM, yeah, that's right, FXCM as their sponsor. To top everything, they've just INTERVIEWED FXCM and it's available right now for a very short time!
Here's some of what they discussed with the BIGGEST broker in the world today (FXCM is currently home to over 150,000 live trading accounts)
- Hear from FXCM DIRECTLY on what they think about the FRWC and why they're sponsoring this milestone event in FX!
- FXCM's take on the complete and utter transparency of having live bots with public 15 min updates for 2 whole months - you want proof - this is it!
- There are more differences between live trading and back-testing / demo trading than you think.
- Liquidity - This shocked me - it's something you'll only hear in this interview - you won't look at trading the same after this!
- Why does the FX industry NEED the FRWC? - find out!
- FXCM on MT4 - hear it from the horse's mouth
- No restrictions, no dealing desk execution... how will this impact us? (Essential!)
- Boston Tech and FXCM - partners - hear why this is a HUGE plus for traders.
- Do you Scalp? Hear what FXCM has to say to you!
There's tons more but I don't want to spoil it for you - it's one of the best interviews I've heard in years! To be quite honest, if you're not paying attention to what the FRWC is doing you might as well be obsolete. Every-one I speak to has been talking my ears off about them and for good reason! It's been a long while coming and I say it's high time somebody decided to shake up this business good and proper. This exclusive content is going to disappear soon so please hurry and don't be left out.
Some of the things I heard in this interview made me rethink everything I thought I knew about trading! These FRCW boys have been steamrolling through this industry like a Semi with a busted brake line! It's really been making me re-think everything that I thought I knew about forex. Who else could get a sponsor like FXCM (they currently have over 150,000 live accounts and are officially the largest broker in the world!) and on top of that, conduct a "no holds barred" interview!?
Feb 14 2010
Read the story of Richard Samuels, a post office mailman with a head injury and how he made a fortune with these Neutrino
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FRWC shocking 40 page PDF insider report that reveals all about the forex robots and the potential of automated trading systems. Knowing your broker intimately is very important for you as most of the time the broker might be trading against you without you ever realizing it. Forex is an over the counter unregulated market. This means that there is no central agency like that in the futures markets that can function as a clearing house.
This unregulated nature of the forex market means that most brokers are free to quote currency rates of their own. What many brokers do is add 1-2 pips to the interbank rate that they get. In times of volatility, you will find that the spreads might suddenly widen. All these are forex broker games that you need to be aware of if you want to seriously dabble in the game of forex trading.
Almost all brokers now tell their clients that no commission will be charged like that in the stock trading. What they don't tell you is that commission is being charged in the hidden shape of spreads. 2-3 pips bid/ask spread is your trading cost and the broker's profit.
Now, if you are new to forex trading chances are that you will lose 99% of the time. You lose, your broker wins as the broker has to provide liquidity to the clients and most of the time cannot immediately offset the position in the interbank market as the size of the most transactions are usually small. What this means is that most of the time, your broker is trading against you. The more you lose, the more your broker wins.
Add leverage to this. Your broker will entice you to use a high level of leverage by saying that it will increase your profits. You are new, you don't know how to use leverage. You end up losing. The more you lose, the more your broker will make.
These are all games that your broker is continuously playing with you. Your forex broker can turn your winning trade into a losing trade by using blip or a sudden spike in the price feed. This is also known as stop hunting. Stop hunting is what many brokers continuously do. You suddenly find that your stop loss order has been triggered and your trade is closed. What you don't know is that the spike in the price action was artificially created by the broker. So my friend, if you are really serious about trading forex than know your broker first before you start dabbling in the game of trading forex.
Nov 23 2009
Many individuals are starting to be interested in trading Forex. There are a number of reasons for this, however the main ones are the ease to trade in the market, the opportunity to make the most of markets no matter what direction they're moving in and also the leverage that's obtainable for traders.
These are all good reasons to trade Fx, however a trader should be careful. Leverage for example can be a disadvantage as well as a plus, if a trader does not fully understand the way to manage their risk.
That's why it is important for a trader to have a good trading strategy, before they begin trading within the market.
The other factor they will need to think about, is how to find a very good Forex broker. Sadly, the Forex market is not regulated. This means that many brokers can in reality do as they want, and some choose to act in unscrupulous ways.
Joining up with a goodhigh quality Forex broker means that people will be in a position to avoid things like slippage. Slippage is when a broker can re-quote a price that a trader wants to buy or sell at. This will invariably go on to some degree, particularly throughout fast moving markets, but good brokers will keep this to a minimum.
A top quality brokerage will additionally give traders low spreads. Essentially the spread is the distinction between the bid and ask price, or alternatively, what a currency can be bought and sold for at a particular time.
The greater the spread the more costly it is to trade. Good brokers give lower spreads. They can also provide the chance for training and education, so that traders will develop market knowledge along with their trading strategies.
It also means they will provide traders with the chance to get up to the minute monetary data, so that they're tuned in to world events and the release of economic numbers, and having the ability to use skilled charting programs, as any other skilled industry trader could.
Brokers both good and bad will also offer a trader the chance to use leverage in a trade. For those unsure what this means, if for instance a trader trades at ten:1 leverage, they will just need to place down one dollar for each ten$ that they buy in the market. twenty:one would be one dollar for each $20 that is traded in the market.
When leverage is employed as part of a trading strategy, where the risk is controlled, then it can give extremely good chances for increasing profits. However, each trader must understand that it can magnify looses extremely quickly and as a result of of that it should be treated with respect, especially by novices.
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Aug 28 2009
As more and more people enter the retail forex market, retail forex traders are doing a booming business. A critical lack of market information has led to the rise of a new forex superstar, “The Forex Analyst.” Learn
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Don’t know how to trade? Don’t worry; we have the people that can teach you. Can’t tell which way the Euro will go. Don’t worry, we have the experts. Retail forex brokers are hiring and promoting the skills of forex analysts in droves in order to offset their client’s fear of the forex market. Who is a Forex Analyst?
Sadly the investing public seems to not have learned any lessons following the internet boom era IPOs. Forex analysts are master peddlers of excuses and explanation as to what did happen. But a forex analyst will never really tell you what will happen.
Just think for a moment, do you think a company hired analysts will give anything but a strong buy to the company’s stock if a company is going public? A similar conflict of interest arises in the retail forex world now full of forex analysts more than willing to share their views on TV, print or chat rooms.
So who are these forex analysts? Are they forex traders? Do they trade their own money? Most of them are not traders. A look at their profile will show you an Ivy League degree full of theoretical knowledge. Is any of this knowledge applicable to day to day forex trading? Of course not!
Trust me if they were smart enough, they would have started their own fund long time ago. So what is the job requirement of a forex analyst? Look good on the TV and write well. They are supposed to know a lot of meaningless forex jargon and economic figures in support of their views.
So what is the exact job of a forex analyst? Since forex brokers only make money the more you trade as a retail forex trader and the more you lose, forex analyst will always be full of great trading ideas to help you trade more. Like any job in the world, the job of a forex analyst is simple to make money for the forex broker company.
If you are wise, you will never trade from the advice of your forex broker. Know this dirty little secret. Some moves just happen in the forex market without any fundamentals or technicals supporting them.
Since most corporate flows happen in the intra day market. These corporate flows make a mess of the intra day forex market. Most of the moves started by these corporate flows have no fundamental or technical reason behind them. Yet no self respecting forex analyst will be caught without a neat explanation at hand.
I would love to host a trading competition between the retail forex analysts and some of the dart throwing monkeys. Rest assured monkeys have a higher chance of winning. So on whom would you bet?
Aug 21 2009
In the past, the forex market was only open to the wealthy individuals and institutional investors. The emergence of sophisticated online forex brokers made forex trading feasible for private individuals like you and me. Compare
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Many forex brokers tend to entice new trades by offering high leveraged margin accounts. Now anyone can open a forex trading account with a retail forex broker and trade currencies with little money upfront.
Market makers set the bid and the ask prices themselves. There are basically two types of forex brokers: 1) Market Makers and 2) Electronic Communications Networks (ECNs).
ECNs consolidate the various bids and ask prices from the different market makers and other participants connected to their platforms and display the best available prices. Market making is a lucrative business for banks and brokers and forms the backbone of market liquidity.
By quoting the bid and ask prices on the screens of electronic brokering platforms or through telephone calls, market makers are essentially providing liquidity and inviting other qualified parties like banks, hedge funds, corporations and retail investors to deal with them.
Some market makers establish credit lines with banks that trade on the interbank market. Market makers must always be prepared to buy or sell from other market participants. They also access the Electronic Brokering Platforms like the EBS and the Reuters for pricing.
The bid/ask spread is the difference between the price at which the market maker will buy (bid) and the price at which the market maker will sell at (ask) from the customer interested in foreign exchange. Market makers make profit from the difference between the bid/ask spread.
During the period of high liquidity in which there is a great deal of trading activity, bid/ask spreads of the actively traded currency pairs are usually kept quite narrow like 1-4 pips.
However, bid/ask spread may widen sometime by a huge margin when the market is quiet with very little trading going on for example prior to New York close on Fridays or during the news releases. Market makers widen the spread when the market activity is low in order to protect themselves against carrying additional risks.
ECNs are highly popular in stock trading as well as futures trading. ECNs are electronic trading platforms that match the buy and sell orders automatically at the specific prices.
An ECN broker gets its currency pricing from several liquidity providers such as banks, market makers or other traders connected to the system. The order is routed to the best available bid or ask price for execution in the system.
ECN brokers usually charge a small commission. However, you can usually get tighter spreads on many currency pairs due to the large liquidity pool available with the ECNs. Risk of trade manipulation is also minimized when using a good ECN broker as compared to the brokers that operate dealing desks.
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