How To Trade Forex?

How To Trade Forex Today, Dec 29th 2008

2009-01-02T04:01:00.000-08:00

EURUSD Outlook

The EURUSD bearish channel on 4h chart has been violated to the upside. On another point of view, the pair also broke the rectangle pattern (ranging market 1.3830 - 1.4125) to the upside. The bias is on the upside in nearest term. A consistent movement above 1.4125 area could trigger further bullish momentum testing 1.4300 resistance level. Immediate support is seen at 1.4100 followed by 1.4050. CCI in overbought area on 4h chart but movement below 100 line is rejected suggesting a potential bullish momentum continuation.

eurusd4hchart7

EURUSD Daily Supports and Resistances:

* S1= 1.4025
* S2= 1.3990
* S3= 1.3944
* R1= 1.4106
* R2= 1.4152
* R3= 1.4187

GBPUSD Outlook

The GBPUSD continued it’s bearish momentum on Friday. The pair bottomed at 1.4650 and closed at 1.4652. We still have bearish price channel on hourly chart. The bias remains bearish. Only a violation of the bearish channel would be a violation to the current bearish scenario. Immediate resistance is seen at 1.4730. A break above that level would change the bias into neutral area. CCI in neutral area on hourly chart.

gbpusdhourly6

GBPUSD Daily Supports and Resistances:

* S1= 1.4603
* S2= 1.4553
* S3= 1.4456
* R1= 1.4750
* R2= 1.4847
* R3= 1.4897

USDJPY Outlook

The USDJPY didn’t make a significant movement on Friday. On hourly chart we can see that after violated the bullish channel, the pair is moving in a rectangle pattern, which is a consolidation/continuation of the current bullish short term trend. The bias remains to the upside. I am expecting a breakout to the upside of the rectangle formation and targeting 91.60 resistance area. Immediate support is seen at 90.20.

usdjpyhourly13

USDJPY Daily Supports and Resistances:

* S1= 90.43
* S2= 90.21
* S3= 90.06
* R1= 90.80
* R2= 90.95
* R3= 91.17

USDCHF Outlook

After breakout to the downside from the descending tringle formation on 4h chart, the USDCHF continued it’s bearish momentum. The bias remains bearish testing 1.0410 area again. Immediate resistance is seen at 1.0687. CCI in oversold area both in hourly and 4h chart suggesting a potential minor upside pressures.

usdchf4hchart4

USDCHF Daily Supports and Resistances:

* S1= 1.0641
* S2= 1.0606
* S3= 1.0543
* R1= 1.0739
* R2= 1.0802
* R3= 1.0837

Have a great day!

My first forex trading

2008-12-10T03:41:00.000-08:00

After my account had been actived in FXOpen and I start to trade in forex trading with real money. Like I have writen in my first deposit in FXOpen, before I trade in forex trading, I check economic calendar to see result that can be momentum to open position and use four indicator as technical analysis in forex trading, like charts in this below

I use moving average( 5 and 6 ), RSI ( 14 ), Stochastic Oscilator ( 5,3,3 ) and volume for my daily forex trading.
In my first forex trading, I had two position and all succesfull. I had close two postion and gained 149 in micro forex and my account be $12.22 from $10.73. Nice start?

My First Deposit In FXOpen

2008-12-07T23:37:00.000-08:00

After I traded with virtual money in forex trading for about 3 months, I start to trade with real money in forex. So I take my Photo ID and National ID to be verified by FXOpen Forex Broker, I upload in Saturday Nov 22th 2008 in FXOpen but for 2 weeks my account had not been verified by FXOpen. After that i submited again in working day, Tuesday and my account had been verified in 2 days. So friends... if you want to verifi your account in FXOpen, submit or upload your ID in working days!. Why I choose FXOpen Forex Broker?, because I believe this Forex Broker and I can deposit with local bank, local deposit and I can trade with micro forex for newbie like me.

After my account has been verified, I can make deposits and withdrawals from my account at FXOpen Forex Broker. I start deposit with local Bank, Bank Central Asia $10 and active in 1 day, so from Wednesday, Dec 3rd 2008 I start traded with my forex strategy and my rule that I was learned. Like I learn and read with expert trader, this will be my daily forex diary, my daily forex note, my daily forex record. So what make me succesfull or fail it will be my experience, and I hope my forex trading will be better.

Marketiva Forex Broker

2008-12-07T22:08:00.000-08:00

Marketiva Corporation is an international forex broker to deal with over-the-counter foreign exchange contracts incorporated in the British Virgin Islands with registration number IBC CAP. 291 Reg. № 646,819. Marketiva Forex broker is under the jurisdiction of the Financial Services Commission (FSC) and conforms with its regulations and internationally accepted supervisory and regulatory standards

With more than 410,000 service users, 240,000 unique and live accounts and more than 3.5 million orders executed online each month, Marketiva is one of the most popular forex broker in the world.

Forex Trading Online in Marketiva!

* Buying and selling currency and couples with a click of a mouse
* You can start trading with as little as $ 1!
* Open your free account and get $ 5 cash reward so you can start trading
immediately!
* Differences between the bid and offer prices are more stringent on the FOREX market

Trading on 1% margin

* Trading on margin (1%) lets you trade $ 10,000 with only $ 100 deposit
(guarantee) of your account
* You do not need to start living on the market right now - with your virtual practice money first
* No commissions or fees on exchange of business - you can trade as much as
you like!
* You can even earn interest on your positions

News, chat, alerts and support

* Read real-time economic news and forecasts on the global economy and forex
markets
* Get alerts told aloud before major market events scheduled
* Chat with other traders on the market developments, exchange ideas and exchange
learn
* Get help from our professional support available 24 / 7 support chat channel

Advanced Custom Mapping

* The most sophisticated and easy to use mapping changes with advances in
technical indicators
* You can trade, view and modify open positions - directly on your cards
* Edit technical indicators in real time and see how they appear
immediately
* Build your collection by adding your graphic chart configurations

Simple and powerful

* Easy to use and understand even if you are a beginner
* Streamster ™ trading software gives you the best experience Forex Trading
available!
* Arrange the windows exchange depending on your preference, all the graphics options, use
auto-pilot, and much more ...
* You only need 5 minutes to open your account - and it's free!

To open an account with Marketiva - complete a registration process on here and download a free version trading platform Novativa Streamster™. Then you'll be able to deposit money in your account and enjoy your Forex trading process.

FXOpen Forex Broker

2008-12-07T09:56:00.000-08:00

FXOpen is a major currency trading service providers for operators Islamic, but not limited to Muslims only merchants. Everyone can benefit from their "no interest" system which is rare for MetaTrader 4 broker platform. They also offer training that could be useful in the early traders. Regular competitions and bonus deposit with e-gold and WebMoney payment options FXOpen a player on the market Forex brokers. And for traders from Indonesia can deposit with BANK CENTRAL ASIA
* Spreads - as low as 2 pips on EUR / USD.
* The minimum deposit for micro-account - just $ 1.
* The minimum deposit of the standard account - just $ 25.
* Instant to include executions and handling.
* Margin leverage from 1:1 to 1:500.
* Free unlimited demo accounts available.
* The research techniques and new markets available.
* The experience and support.
* $ 100 bonus on new accounts standard.
Competitions negotiation.
* Price negotiation for new operators.
* MetaTrader platform 4.
* Muslim-friendly trading system.
* Graves company for serious traders.
* E-gold and WebMoney billing options.

To open an account with FXOpen - complete a registration process on here and download a free version MetaTrader 4 trading platform. Then you'll be able to deposit money in your account and enjoy your Forex trading process.

Enjoy Your Trading

What is Forex?

2008-12-07T07:44:00.000-08:00

FOREX - the foreign exchange market or foreign exchange market or Forex is the market where one currency is exchanged for another. He is one of the largest markets in the world.

Some of the participants in this market are simply seeking to exchange foreign currency for their own, such as multinational corporations which must pay wages and other costs in different countries to sell their products in. However, much of the market is composed of currency traders, who speculate on movements in exchange rates, like many others speculate on movements in stock prices. Currency traders try to take advantage of small fluctuations in exchange rates.

In the forex, there is little or no "privileged information". Exchange rate fluctuations are usually caused by cash flow and expectations on global macroeconomic conditions. Important news is made public if, at least in theory, everyone receives the same information simultaneously.

Currencies are traded against each other. Each currency pair is therefore an individual product and is traditionally noted XXX / YYY, where YYY is the ISO 4217 international code of three letters of the currency in which the price of a unit of currency is expressed XXX. For example, EUR / USD is the price of the euro expressed in U.S. dollars, as in 1 euro = 1.2045 dollar.

Unlike stocks and futures, forex is indeed an interbank, over-the-counter (OTC) market which means there is no single universal exchange for specific currency pair. The forex operates 24 hours a day throughout the week between individuals with forex dealers, forex brokers with banks, banks and the banks. If the session is ended the session in Asia and the U.S. session will start, so the currency can be continually in trade. Operators can react to news when it breaks, rather than wait until the market opened, as is the case with most other markets.

Average daily international forex transaction volume was $ 1.9 trillion in April 2004, according to the study of the BIS.

Like any market, it is a bid / offer spread (the difference between purchase price and selling price). Currency on major crosses, the difference between the price at which a market maker will sell ( "request" or "offer") to a major customer and the price at which the market maker will buy ( "bid" ) Of the major customer is minimal, usually only 1 or 2 pips. In the EUR / USD price of 1.4238 is a PIP le'8 'at the end. Thus, the supply / demand estimate of EUR / USD could be 1.4238/1.4239.

This, of course, does not apply to retail clients. Most individual currency speculators will trade through a broker who usually have a difference to Seedless say 3.20 (in our example 1.4237/1.4239 or 1.423/1.425). The broker like marketiva or FXOpen will give their clients often huge amounts of margin, which facilitates customers spend more money on the supply / demand spread. Brokers are not regulated by the U.S. Securities and Exchange Commission (because they do not sell securities), so they are not bound by the same margin limits as stock brokerage. They are generally not support the interest margin, currency, however, since the trades must be settled in 2 days, they will "relocate" open positions (again the collection of bid / ask spread).

Individual currency speculators can work during the day and trade in the evening, taking advantage of the market for 24-hour day.

Here you will find Forex e-book that provide basic information about Forex trading: Introduction to Forex

Forex almost all e-books are in. Pdf. You'll need Adobe Acrobat Reader to view this e-book.

If you are the copyright owner of this e-books and do not want me to share, please contact me and I will be happy to remove them.