make money online with forex without invest instaforex guide by instaforexmoney

How to Register InstaForex India Forum And Link This To Your Instaforex Trading Account

2014-10-26T09:26:00.003-07:00

To Register In InstaForex Nigeria Forum CLICK HERE

Did you know? that do not have the capital to trade! Instaforex Best Broker providing free capital for trading. Each time you do a post on the forum MT5 will be paid 30 cents. Within a month of the forum members can earn $ 200 - $ 500.

Immediately sign up to get a free capital for trading. Remember, this is an easy way to make money and no risk. And it's easy to get BONUSfrom InstaForex and MT5! Just follow the steps:

Go to Instaforex Forum Posting Area
For Traders → Open Account
Now follow the below screenshot do as said

You must put portalforum in the affiliate box otherwise you will not get bonus in your trading account
Now create account. You will get your account information in your email as well.
Now go to Indian Forex

Join under my referral code (75550) so that you can contact me through indian forex

Register for the forum. Then start posting.
Now attach your instaforex account to MT5 forum, Klik My Profile

For any thread or posting you will get 0.30$ and 0.10$ per referral post
Please do not spam else you will be banned. Do not create multiple ID as you will be banned
They will deposit your bonus to your instaforex after 7th day of the next month

Proof of payment from the forum $72.74

Trading using the capital bonus of forum

The withdrawal from the trade $300

Money into the account liberty Reserve $300 (fee $2.99)

Proof of payment from the forum Mt5 India $219.44

If you have any questions, please use the comment box below.

How to Register InstaForex Nigeria Forum And Link This To Your Instaforex Trading Account

2014-10-26T09:08:00.000-07:00

01. To Register In InstaForex Nigeria Forum CLICK HERE

02. After click Register we will get similar to this page as well as follow no-2 image

03. At final follow no-3 image. Must fill all margin correctly

Conditions:
1. Marketing threads aren’t honored.
3. Articles should be accurate in further to pithy.
3. Inundating in further to off-top threads aren’t honored.
5. Don’t grow meaningless or maybe inessential threads.
5. Lenght of any post should be for about 3 lines.
6. Signup bonuses might be cancelled or maybe not paid with out surveying reasons, since of outstanding campaign’s policies or maybe participant’s grant by a selling campaign.

How To repel my Forum Dollars?

To get a reward we need to open a trade account in InstaForex Company as well as insert it to your forum account. The bonuses we amassed during a month have been credited during a initial week of a subsequent month.

How to we will insert Inata Forex Account to Nigeria forum account?

At initial login to your Nigeria forum as well as click to My Profile similar to subsequent image. And follow subsequent images.

Click upon a picture for removing transparent image

After it we will get page that is similar to no-2 image. Click upon “Bonus for post” as well as follow subsequent image

At final we will get no-3 picture as well as follow a image

And Its Done Enjoy........ADMIN

Linking Instaforex Account with MT5 Forum

2014-10-26T08:52:00.000-07:00

Hello Dear Viewers,

Today I am going to share you the way which with you can link your previous or newly created instaforex for withdrawing your mt5 forum earnings directly to your trading account. And then you can earn profit with the earnings of mt5 forum by trading on instaforex broker.

After adding or linking your instaforex account with your mt5 forum account, you will be eligible to withdraw your money at every month and you can change your instaforex account from the forum at every 3 month after.

So let’s go and add your instaforex account with your mt5 forum account.

Firstly you have to open a new forex trading account with the real value. And then you can add that account. For doing that, follow the step of bellow.
Go to forum portal/posting area of instaforex
Now open a real and live trading account as a trader
Now follow the step for opening account by seeing the screenshot bellow.

You must should use portalforum on the affiliate Code box for getting the mt5 bonus. If you do not use the affiliate code then you will not get the bonus on your instaforex account.
Then you will get all of your account information on your email address shortly.
Now go to MT5 Forum and Login to your account with your username and password.
Now click on My profile.

Now click on “Bonus For Post” and then Click on the attach icon (+)

Now fill those options with your instaforex username and instaforex password and then click on “Attach account” button.

That’s all. You have done it. Now you will get your forum posting bonus to your trading account every month from 1st to 7th date.

How To Verify Instaforex Trading Account Every Country Verification Details

2014-10-24T09:29:00.000-07:00

The documents submitting and verification is important because they are essentially required when you withdraw your funds. You need to submit the following documents:

Your debit card (Both sides copies with your secret number hidden)

A utility or phone / mobile bill to verify your address

And a passport (or an English version of your CNIC)

Please note that the brooker can demand other documents according to their requirements; however the requirements listed above are in general the complete requirements.
In case of other forex platforms, they send you an email and you send them your documents as a reply to their email address, however in Instaforex this system is automated. Just go to the main website www.instaforex.com and click on the client area, after logging in go to the “verify” and upload your scanned copies of debit card. Then wait for a few days, when they are done with their verification of your debit card then upload your utility bill or any other supporting documents that contains your address. After 3-5 working days, you will see that your documents have been shown verified, now you can easily withdraw funds from your forex trading account.

If you strive to access extended services rendered by InstaForex or want to improve the status of your trading account, you may verify your trading account. Complied with Public Offer Agreement, verification is not obligatory.

Apart from access to additional services, trading account verification is aimed at strengthening of company’s confidence in a client.

Trading account verification is quite simple. All that you need is to upload the scanned copy of your passport or any other ID (on this page). After that, the document will be inspected. Within 72 hours after sending the document, you will receive an email confirming a higher status of your trading account or requesting additional documents necessary for the verification.

There are two levels of verification: the first and the second. Note that there are different requirements for every verification level. To get the second level of verification, you need to pass the first verification level. All the details on the account verification procedure you will find in the Verify account section of your Client Cabinet.

Basic requirements for the uploaded documents:

1. The scanned copy must be clear and in colour.
2. The scanned copy must be complete and have two-page spread.
– Both sides of the identity document must be scanned.
– If, according to the rules of the customer’s country of residence, the passport is not changed or renewed upon a certain age but has a new photo pasted into and/or the expiry date extended, the copy of such page must be submitted as well.
– If the customer’s name is in two languages in the passport, but this data is on different pages, the scanned copies of both pages must be provided.
3. No obvious erasures, additions, scratch-outs or other unauthorized manipulations are allowed.
4. The photo must be of high quality.
5. The name(s) on the account must be identical to the one(s) in the document.
6. The address specified in the account must be identical to the one in the document.
7. The document must be valid by the moment of its submission and must contain all the necessary seals and signatures as well as the date of issue and expiration.
8. It is not allowed to upload the same document for both levels of verification.
9. If the account is registered to a legal entity, the certificate of its incorporation must be uploaded.
10. Documents in the national language must be translated into English and notarized. Upon uploading, you should additionally submit the scanned copy of the original.
11. Accepted file types are .png, .bmp, .jpeg, .jpg and .gif. The size of the file must not exceed 2 MB.

Below please check the list of the documents accepted for verification:

Country	ISO 3166-1	Documents acceptable to L1	Documents acceptable to L2
Bangladesh	BGD	Passport of AA series International Driving Permit (IDP) National ID card (NIDC) can be accepted provided that the client uploads a scanned copy of the document (both sides) as well as the photo of a client with a document in his/her hand.	Any of the documents acceptable for the first level (except for the one uploaded for the first level) National passport (pages 1, 2-3 must be provided). If a passport was renewed, a client should provide pages 6 and 7 as well. Page 8 of passport (page proving the client’s address) Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Indonesia	IDN	Passport e-ID card (e-KTP (Kartu Tanda Penduduk)) Driving license (Surat Izin Mengemudi (SIM)) Category A, B1, B2, D	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Class C Document proving the clients address Utility bill (not older than 3 months) Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official)
Pakistan	PAK	Passport (a page with a signature and a fingerprint must be provided). National ID card (NIDC) can be accepted only in case the document is translated, and the translation is attested by a notary officer. In addition to the notarized translation, a client should submit a scanned copy of the ID (both sides) National Identity Card for Overseas Pakistanis (NICOP) SMART National ID card (SNIC)	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Certificate of domicile Driving license Utility bill (not older than 3 months) Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official)
Malaysia	MYS	Passport MyKad MyPR	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Utility bill (not older than 3 months) Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official)
Russia	RUS	Internal Passport International Passport Driving license Seaman Passport Diplomatic Passport	Any of the documents acceptable for the first level (except for the one uploaded for the first level) The latest permanent residence stamp (pages 5-12 of the internal passport) Military ID Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Slovakia	SVK	ID card (Občiansky preuzkaz) Passport (Cestovný pas)	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Nigeria	NGR	Passport ID Seaman’s book	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
India	IND	Passport PAN Card of Income Tax Department	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Passport (the page containing the holder’s address must be provided) Driving license Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Latvia	LVA	Passport (Pase) Seaman’s book (Jūrnieka grāmatiņa) ID card (Identitātes karte) Driving Licence (Vadītāja apliecība) Residence Permit (Uzturēšanās atļauja)	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Certificate of domicile (Izziņa par dzīvesvietu / izziņa par nekustamajā īpašumā deklarētajām personām) Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Lithuania	LTU	Passport (Pasas) Identity card (Asmens tapatybės kortelė) Seaman’s book (Jūrininko knygelė) Residence permit (Leidimas gyventi) Registration card (Užsieniečio registracijos pažymėjimas) Driving license (Vairuotojo pažymėjimas)	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Certificate of domicile (Pažyma apie asmens deklaruotą gyvenamąją vietą/Pažyma apie gyvenamosios patalpos savininkui (bendraturčiams)) Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Slovenia	SVN	Passport (Potna listina) ID card (Osebna izkaznica) Driving license (Vozniško dovoljenje) Biometric residence premit (Biometrično dovoljenje za prebivanje)	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Certificate of domicile
Belarus	BLR	Passport (In case the account holder name is written in Latin alphabet, page 32-33 must be provided); in case the account holder name is written in Belarusian or Russian, page 30-31 must be provided as well) Driving license	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Ukraine	UKR	Internal Passport (Pages 1and 2 – 3 must be provided. In case the passport was renewed as the holder reached the age of 25 and 45, pages 3-6 must be provided as well) International Passport Seaman Passport Diplomatic Passport Driving license	Any of the documents acceptable for the first level (except for the one uploaded for the first level) The latest permanent residence stamp (МІСЦЕ ПРОЖИВАННЯ) pages 11-15 of the internal passport Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Egypt	EGY	ID card Passport Driving license	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Armenia	ARM	Passport ID Card	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Certificate of domicile Military ID Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
China	CHN	Passport ID Card	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Georgia	GEO	Passport ID card	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Moldova	MDA	Passport (Paşaportul cetăţeanul RM, paşaportul apatridului) ID Card (Buletin de identitate al cet. RM, buletin de identitate apatridului) – scanned copies of both sides of the ID must be provided Residence permit (Permis de şedere) Driving license (Permis de conducere)	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Certificate of domicile (Fişă de însoţire (pag. 6 ‘DOMICILIUL’ + pag. 2 ‘Datele de identitate ale titularului)) Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Philippines	PHL	Passport ID card	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Singapore	SGP	Passport ID Card	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Italy	ITA	ID Card (Carta d’Identità Elettronica) Passport	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Saudi Arabia	SAU	National Passport (pages № 1, 2-3, 8-9 must be provided) ID Card	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Kazakhstan	KAZ	ID Card Passport Driving license	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Certificate of domicile (Книга регистрации граждан/Азаматтарды тіркеу кітабы) Current place of residence verification letter (Адресная справка) Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Tunisia	TUN	Passport ID Card	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Algeria	DZA	Passport ID Card	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Colombia	COL	ID Card (Cedula de ciudadanía) Passport	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile (Certificado de Recidencia o Domicilio) Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Thailand	THA	Passport ID Card	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Czech Republic	CZE	Passport (Cestovní pas) ID Card (Občanský průkaz)	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Israel	ISR	Passport ID Card	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Turkey	TUR	ID Card (Kimlik kartı) Passport	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Brunei	BRN	ID Card (kad pengenalan) Passport	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Hungary	HUN	Passport (MAGYAR KÖZTÁRSASÁG) ID Card Driving license	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile (Residence document) Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Uzbekistan	UZB	Passport ID card Driving license	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
United Kingdom	GBR	Passport Driving license	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Vietnam	VNM	ID Card (giay chung minh mhan dan) Passport	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license (giay phep lai xe) Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Jordan	JOR	Passport ID Card	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Yemen	YEM	Passport ID Card	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Portugal	PRT	National ID (Cartão de Cidadão) Passport	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license (carta de conducao) Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Costa Rica	CRI	ID Card (Cédula de identidad) Passport	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Sweden	SWE	ID Card (Nationellt identitetskort) Passport	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Germany	DEU	ID Card (Personalausweis) Passport	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Morocco	MAR	e-ID Card (Carte Nationale d’Identité Électronique (CNIE)) Passport	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Livret d’État Civil Certificate of domicile Residence permit (Certificat de residence) Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Sri Lanka	LKA	Passport ID Card	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Republic of Korea	KOR	Passport ID Card	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Iran	IRN	Passport ID Card	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Romania	ROU	ID Card (Carte de identitate) Passport	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Belgium	BEL	ID Card (Carte d’identité) Passport (Passeport) Driving License (Permis de conduire)	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Japan	JPN	Passport ID card	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Kenya	KEN	Passport ID card	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Estonia	EST	Passport (Pass) ID card (Isikutunnistus)	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile (Elukohatõend) Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Guatemala	GTM	ID Card (Documento Personal de Identificación) Passport	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Bulgaria	BGR	ID Card (Лична карта) Passport (Паспорт) Driving license (Свидетелство за управление МПС) Seaman’s passport (Моряшски паспорт за български граждани)	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Azerbaijan	AZE	ID Card (Vətəndaşının şəxsiyyətini vəsiqəsinin) Passport	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
South Africa	ZAF	South African ID book	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Canada	CAN	Passport NEXUS Card	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
France	FRA	ID Card Passport	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Kyrgyzstan	KGZ	ID Card Passport	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Sudan	SDN	ID Card Passport	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Spain	ESP	ID Card (Documento Nacional de Identidad) Passport	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
New Zealand	NZL	ID Card Passport Driving license	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Mexico	MEX	ID Card Passport Voting Card (Credencial para votar)	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Mongolia	MNG	ID Card Passport	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Laos	LAO	ID Card Passport	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Ghana	GHA	ID Card Passport	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Greece	GRC	ID Card Passport	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Tajikistan	TJK	ID Card Passport	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Poland	POL	ID Card (Dowód osobisty) Passport Driving license (Prawo jazdy)	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
El Salvador	SLV	ID Card Passport	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Venezuela	VEN	ID Card Passport	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Australia	AUS	ID Card Passport	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
UAE	ARE	ID Card Passport	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Cote d’Ivoire	CIV	ID Card Passport	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Democratic Republic of Congo	COD	ID Card Passport	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Cambodia	KHM	ID Card Passport	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Switzerland	CHE	Passport (Passeport) ID Card (Carte d’identité)	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
libya	LBY	Passport Driving license	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Afghanistan	AFG	Passport ID Card Driving license	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)
Iraq	IRQ	ID card Passport	Any of the documents acceptable for the first level (except for the one uploaded for the first level) Driving license Certificate of domicile Bank statement with account holder’s name and address in it (the document must not be older than 3 months and must be signed and sealed by a bank official) Utility bill (not older than 3 months)

How to Verify Insta Forex Account In Pakistan?

As Salam Alaikum...!

Humare kuch members ko yeh shikayat hai ke unka Insta Forex Account Verify Nahin horaha. Isliye mein yahan tafseel se likh raha hun is ke baad aap logon ko asani hojayegi Account Verfication mein.

InstaForex ka Trading Account 2 Steps mein verify hota hai. Aap ko apne documents ki color scan copy upload kerna hogi.

Documents Required for First Level Verification (Initial Verification)

* Passport (First Three Pages of book)
* SMART National ID card (SNIC)
* National ID Card for Overseas Pakistanis (NICOP)
* CNIC Urdu to English Translation Certificate by Notary Public Officer.

Documents Required for Second Level Verification (Full Verification)

* National ID card without Notarized translation.
* Certificate of Domicile
* Driver Licence
* Bank Statement Signed & Sealed by Bank Official (Not older than 3 months)
* Utility bill (Not older than 3 months)

Document Submission Rules.

* Dono verification Levels mein kam se kam aik scanned document upload kerna lazmi hai.
* Scanned document files color quality mein bilkul saaf nazar aana chiaye.
* Ager passport hai tu phir first three pages ko scan ker ke upload kerein.
* ID Card ki dono sides (Front/Back) do alag files mein upload kerein.
* Scanned ki hui picture mein kisi qism ki Editing / Correction / Modification na kerein.
* Scanned document ke borders saaf nazar aana chaiye aur border se thora door se crop kerein.
* Photo achi quality mein hona chaiye.
* Insta Forex Trader Account holder Name Scanned document se match kerna chahiye.
* Insta Forex Trader Account Address Scanned document se match kerna chahiye.
* Ager koi Document 1st Level verification mein upload kia gaya tu woh 2nd level mein upload nahin kersakte.
* Expired Scanned Document upload nahin kersakte.
* Scanned file ki picture resolution kam se kam 1024X768 pixels ya isse ziada ho tu acha hai.
* Scanned ki hui file ko Jpeg (jpg) format mein upload kerein.
* Scanned ki hui file ka size maximum 2mb allow hai.

Ager aap ke documents in rules ko apply kerne ke baad bhi reject hojain tu aap Instaforex Support Team ko apne document email kerdein.

Email: identify@instaforex.com

How to Open InstaForex Trading Online Account

2014-10-24T09:13:00.000-07:00

In order to start Forex Trading, you need to open live account with Best Forex Broker. Follow this 3 simple steps:

Step 1.
Click on link below to get visit the official site.

==> Click here to visit Instaforex Official Site

Step 2.
Accept the Opening a trading account' terms of agreement

Step 3.
Fill up the Application Form. Then click on "Open Account" button
Note:** If you want trade with swap-Free, please click on the Islamic Account

Well done ! Now you have a real Forex Trading Account. You will received confirmation email from Instaforex.

Then, you can start deposit into your trading account and start your Forex Trading Journey

InstaForex Forex Trading For Beginners Complete Step by Step Guide Free

2014-10-24T09:05:00.000-07:00

The Basics of FOREX Trading for Beginners

What precisely is FOREX trading? Put simply, FOREX trading is the buying and selling of international currencies. Traditionally, participation in the FOREX market was confined to major banking and trading institutions. But in recent years, technological developments have opened up this once exclusive arena to smaller companies and even individuals by allowing them to trade currencies online.

The world's currency rates are not fixed. They follow a floating exchange rate and are always traded in pairs - Euro/Dollar, Dollar/Yen, etc. Most international transactions are exchanges of the world's major currencies.

When it comes to Forex trading, there are a number of major currency pairs. : Euro v. US dollar, US dollar v. Japanese yen, British pound v. US dollar, and US dollar v. Swiss franc. These currency pairs are considered major in comparison to the other currency pairs because of their trading volume.

In the FOREX market, these relationships are shortened: EUR/USD, USD/JPY, GBP/USD, and USD/CHF. They may also be listed as follows (without the slash): EURUSD, USDJPY, GBPUSD, and USDCHF

Below is a chart of 4 currency pairs clearly illustrating forex beginners their relationship to each other.

Forex Trading For Beginners Chart 1.0 Major Currency Pairs - Daily Data

It is also important to remember that there are no dividends paid on currencies. If you are a trader in the FOREX market, you look to see whether one currency's value will appreciate against another currency. When this is the case, you exchange the latter for the first. Ideally, you will be able to exchange the first currency for the other at a later time and collect a profit from the trade.

FOREX transactions are typically conducted by professionals at major banks and brokerage firms. FOREX trading has long been an important feature of the international market. At all hours of the day, currencies are being traded by brokers around the world.

In fact, the FOREX market operates virtually twenty- four hours a day and five days a week with traders at international banking institutions working a number of separate shifts.

The FOREX market is different from the normal stock market in the fact that price shifts are much smoother and do not result in significant gaps. Each day the FOREX market turns over trillions of dollars, allowing traders to enter and exit certain position very easily. As you can see, the FOREX market is a dynamic and continuous system that basically never sleeps. To be sure, even on September 11 in 2001 it was still possible to obtain currency quotes.

Also known as the foreign exchange market, or FX, it is the oldest and most expansive financial market in the world. In comparison, the currency futures market is a mere one percent the size of the FOREX market.

Trades are brokered between major banking groups and circulate around the globe, from America to Australia, to Asia, to Europe, and back to the U.S. For a long time, financial prerequisites and hefty minimum transaction amounts put the FOREX market out of reach of small traders. Consequently, at one time major banks and financial institutions were the only parties that could benefit from participation in the FOREX market's fluidness and strong exchange rates.

Today is a different story. FOREX market dealers can divide large units within the market, allowing smaller corporations and even individuals the ability to trade these smaller units. Even though it is the oldest financial market in the world, the FOREX market has evolved a great deal in a short amount of time. High-speed internet connections and sophisticated online Forex trading platforms has definitely made it easier for individual traders to get involved in Forex trading and possibly be very successful at it. This basic guide is your first step towards a successful future in trading in the extremely lucrative FOREX market.

Why To Trade The FOREX Market

If you asked Forex traders the number one reason they traded Forex most of them would say, “profit potential”

Forex Trading For Beginners Chart 1.1 Daily GBPUSD Data

The chart above shows the daily GBPUSD (British Pound/US Dollar) currency pair. This chart shows the ?BUY? entry where the blue arrow is (the bottom left of the chart). This

represents where a particular Forex trading system went long (bought).

The profit so far in this trade is approximately $24,000 per Forex contract. This is from just one simple trade in the Forex market! So as you can see the profit potential is there and opportunities such as these exist in all Forex currency pairs.

There is a unique and potentially very profitable opportunity offered through cash/spot FOREX markets regardless of the condition of the market.

How To Get Started With Forex Trading

Learning to trade with Forex is not unnecessarily difficult; however, there are definitely a few items you must be aware of and instructions to follow. Before beginning any trading, obviously you need to locate and forge a relationship with a broker to execute the trades. Just as with doctors, lawyers and other professions, there are a multitude of Forex brokers from which you can select.

To help you choose, here are some factors to consider:

Minimal Spreads - Unlike standard stock trading brokers, Forex brokers do not charge any commissions on the trades. They earn their income from what is called a spread. The spread is simply the difference between the buy and sell price of currency at a particular point in time. As you locate and investigate the brokers, you should inquire as to the spreads they charge. The lower the spread, the less it will cost you to trade in Forex. This is the same rule as with traditional brokers. The higher their commission on the trades, the lower your profit at the conclusion of the buy and sell transaction. It is in your best interest to choose a Forex broker offering a low spread.

Compliance and Reputation - Traditional stock trading brokers generally operate through their own brokerage houses. Forex brokers, however, are most often affiliated with a large bank or other financial institution. This is due to the substantial sums of capital required. In addition, you should confirm that the Forex broker you choose is properly licensed and registered. Forex brokers should be registered with the Futures Commission Merchant (FCM). IN addition, they are regulated by the Commodity Futures Trading Commission (CFTC).

You can locate and verify the registration as well as other facts and background information at the CFTC website at http://www.cftc.gov .Without a doubt, you want to retain and trade through a broker who is affiliated with a reputable bank or financial institution.

Available Research Tools and Information - Like traditional stock and commodity brokers, Forex brokers maintain various types of websites, trading platforms and underlying research and information portals. The sites should provide you with real time information, current charts, technical information and comparison ability and other relevant data. A good Forex trader will also sustain the ability to trade on different systems. As with any major financial endeavor of this type, ask for free trials to you can evaluate the Forex broker's various trading platforms. Forex brokers should offer a wide array of information, schedules, tools and other support functions and records.

The bottom line is to locate a broker who will provide you with all the tools and services you require to be successful.

A Variety Of Leverage Options - To succeed in Forex trading you Leverage the price spreads on your trades. The price differentials are minute down to the small percentages of a penny. You are, however, using more than your actual capital borrowed from the broker to make the trades which is how you Leverage larger amounts for your trades than you actually have in cash. This allows you to earn money on the small price deviations. As an example, if you are leveraging at a ration of 100 to 1, this means that for every one of your dollars with which you are trading, you are borrowing 100 from the broker. A wide majority of brokers will allow you to leverage up to a 250 to 1 ratio.

You need to be careful, however, because the leverage ratio is directly related to risk. The higher the ratio, the more you are effectively borrowing from the broker. While you can earn more profit from the trades, you can also lose more if the price fluctuation is not in your favor. This risk reward evaluation is based on your own capital amounts and your tolerance level for profits and losses on the trades. If you are flush with capital, leveraging a higher amount is not as much of a concern. Nevertheless, brokers offer a large number of leveraging ratios and you will certainly find one or more to fit your desires and financial constraints. Even if you have a good amount of capital and can accept a certain amount of risk, you may not want to leverage a high amount if the market becomes volatile such as with exotic currency pairs.

Types of Accounts - You will need to open an account with a broker to execute trades. There are a variety of types of accounts which you can maintain. The lowest account is referred to as a mini account. It has a low minimum opening balance requirement of approximately $300.00. A mini account provides you with the highest ratio of leverage since you are using a small amount of capital with which to execute larger sums in your trades. Aside from the mini account is a standard account. That type of account provides a multitude of various leverage ratios. It has a higher minimum balance to open of approximately $2000.00. Finally, another type of account which brokers offer is a premium account. These require substantially higher minimums to open. They also offer you multiple ratios of leverage as well as give you access to additional platforms, tools and services. As you evaluate and pick a broker, find one that has the right mix of accounts, leverage, information and services for your requirements and financial circumstances.

Stay Away From Disreputable Brokers - Just like in any profession, there are good and bad representatives. Brokers are no different. Some are reputable and others are the ones you just need to avoid, especially as a forex trading beginner. These are the brokers who do not have your best interest in hand and simply buy prematurely or sell near a preset price point to increase their own profits.

These brokers will pick up a fraction of a penny always against on your trades. None of the brokers you evaluate will ever admit to such trading, but there are methods to determine if you are considering a broker who engages in this practice. You can speak with other brokers to get their opinion on the one or more that you are considering. You can ask if they are aware of the brokers trading proclivity in terns of the buying and selling near the price points.

There is no organization that tracks this type of activity. You can try to look on the Internet for discussion boards or messages that might disclose certain brokers and their trading activity.

Margin Calls and Requirements - Obviously since leveraging is all about borrowing money from the broker you need to understand exactly how much risk your broker is going to allow you to take on trades. Once you establish that together and discuss it, the broker will know the prices and differentials in the fluctuations within which to trade by buying or selling. This can, however, adversely impact you if the broker has that discretion and trades at losses.

For example, assume you maintain a margin account and your positions dramatically fall before turning around and rising substantially even exceeding the beginning price. Whether or not you have sufficient capital, a broker might have traded out your position during the fall to lessen the broker's risk and potential loss. That trade could have been at or near the bottom of the price fluctuation. That would result in a margin call to you and you could be liable for substantial sums of money even though the price rebounded after the broker liquidated your position.

Opening a Forex account, regardless of the type, is similar to taking out a rotating equity loan or maintaining an equity account. The main thing that separates them from the Forex account is that you are required to execute a margin agreement with relation to your Forex accounts. The margin agreement acknowledges that you are trading with money borrowed from the broker and that the broker can insert itself into your trades as necessary to lower its risk and protect its interest. It also explains your liability relating to any losses. After you execute the agreement and deposit the beginning capital to the account you opened, you are ready to begin trading.

Introduction To A Basic FOREX Strategy for beginners

Technical analysis and fundamental analysis are considered the two main forms of analysis in both the FOREX market as well the equity markets. However, most FOREX traders opt for using technical analysis.

The following is a quick overview of both types of analysis and how they are used in FOREX trading.

Fundamental Analysis for Forex Trading Beginners

Using fundamental analysis in the FOREX market tends to be somewhat difficult and is generally used to forecast long-terms trends. There are, of course, some traders who conduct their trades on a short term basis solely on current news releases. There are many fundamental indicators of currency values that are released at various times so we have provided a list of a few for to be aware of:

Non-farm Payrolls
Purchasing Managers Index or PMI
Consumer Price Index or CPI
Retail Sales • Durable Goods

Of course these are not the only fundamental indicators you need to be aware of. There are also several meetings that can provide you with additional information that may affect a market. These meetings usually focus on interest rates, inflation, and other causes of currency value fluctuation. Sometimes a volatile market is caused by something as simple as the wording of issues such as the Federal Reserve chairman's discussion on interest rates.

The most significant meetings you should be aware of are the Federal Open Market Committee and Humphrey Hawkins Hearings. Simply studying the commentary can

help FOREX fundamental analysts to better understand long-terms market trends and can also help short-term traders capitalize on the market.

Should you opt for the fundamental strategy, you should keep an economic calendar on hand so you know when these reports are available. Your broker should be able to keep you up-to-date on this information as well.

Technical Analysis for forex trading beginners

Technical analysis helps FOREX traders analyze price trends much like their counterparts in the equity market. The only difference is that FOREX markets are open 24 hours every day. In order to work with that 24 hour a day time frame, some types of technical analysis to be changed or modified.

The following is a short list of technical analysis tools that are most commonly used in FOREX:

Moving Averages
Stochastic Oscillator
Channel Breakout
MACD (Moving Average Convergence Divergence)
Candlestick charts
Elliott Waves
Fibonacci Studies
Parabolic SAR
Pivot Points

Introduction To Forex Charts for beginners

No discussion of technical analysis would be complete without an introduction to Forex chart basics. The very first Forex chart we will start with is called a ?bar? chart. It gets its name because of its elongated bar-like shape. The typical bar on a bar chart is composed of 4 components:

Open – Opening price of the time period used High - Highest price of the time period used Low - Lowest price of the time period used Close – Last price of the time period used Below is a typical bar of a bar chart

Forex Trading For Beginners Bar Chart 1.1

Open – Tick on left side of bar

High – Top of bar

Low – Bottom of bar

Close – Tick on Last price of the time period used

The chart below is a monthly chart of the EURUSD (Eurodollar/US Dollar) currency pair. Monthly charts are longer-term charts used to get a feel for the ?big picture? of the market. Many traders start here and then work their way through a series of smaller timeframe charts.

Forex Trading For Beginners Chart 1.2 Monthly EURUSD Data

The weekly chart is the next timeframe available. The weekly chart confirms the EURUSD's upward movement since the beginning of 2009.

Forex Trading For Beginners Chart 1.3 Weekly EURUSD Data

When we focus in on the daily chart we see that the market continues to be in an uptrend.

Traders who are trend followers often take this ?top down? approach to gain perspective on the market's movements and establish the direction of the trend. If a trader using this method feels that the upward trend will continue they will see to find a suitable entry point for a long position in this market.

Figure 1.4 Daily EURUSD Data

Below is a very popular timeframe to use in Forex charting. It is a 4-hour bar chart. The 4-hour chart is an excellent chart to use in trading. It has become increasingly popular with those traders who feel that the smaller timeframes, i.e., 15 minute, 5 minute, etc. move too erratically to base trading decisions on.

Figure 1.5 4-Hour EURUSD Data

The hourly chart is by far one of the most popular. It may be used by longer-term traders to refine their entries and exits. The 1-hour chart is also used by day traders who wish to gauge short-term market direction.

Figure 1.6 1-Hour EURUSD Data

The 5-minute chart is used almost exclusively by day traders.

Figure 1.7 5-Minute EURUSD Data

Another form of Forex chart is the candlestick chart. Candlestick charting originated in Japan and is one of the oldest methods of charting in the world. Candlestick charting has enjoyed increased popularity and is now used by more Forex traders than ever.

Figure 1.8 Daily EURUSD Candlestick Data

The name ?candlesticks? comes from the appearance of the data on the chart. They price data looks like a ?candle? with a ?wick? on each end. In the chart above the solid green and solid read areas are known as the ?real bodies?. The gray lines that are extending from each end are known as ?wicks?. You may also here ?wicks? referred to as ?shadows?

Candlesticks have become so popular because you can look at a candlestick chart and instantly get useful information. For instance, the green candles are called ?bullish candles? because the price moved in an upward direction.. The closing price for a green candle is always higher than the opening price. Red candles are called ?bearish candles? because the price moved in a downward direction. The closing price for a red candle is always lower than the opening price.

The chart below shows a green candle at the start of a strong uptrend (see blue arrow).

Figure 1.9 Daily EURUSD Candlestick Data

The chart below shows a red candle at the start of a strong downtrend (see red arrow).

Figure 1.10 Daily EURUSD Candlestick Data

Consecutive candles of the same color generally indicate the continuation of a trend.

You can see from this brief introduction to candlestick charts that they can be very useful. After our brief introduction to candlestick charts it's time to move to our next topic.

Forex Charts, Technical Indicators, and Forex Trading Systems

Forex charts and technical indicators, also known simply as ?indicators? have become a standard of Forex market analysis. An indicator is a visual element that is placed on the same Forex chart as the currency pair. It gets its name because it ?indicates? something. An indicator can tell a trader when prices are at a favorable level to place a trade such as a buy trade or a sell trade.

Figure 1.11 Daily EURUSD Data

The green line we see below is an example of an indicator. This particular indicator is called a ?simple moving average? or SMA. Arrows have been placed on the chart to represent buy and sell triggers. The ?triggers? in this case are as follows:

When the price closes above the moving average then we have a buy trigger. When the price closes below the moving average we have a sell trigger.

Figure 1.12 Daily EURUSD Data

One question you may ask is, ?When we see a trigger what do we do?? That's a good question. The standard way of using a moving average is to take the trade on the next

bar after the trigger. This means that we would buy on the open of the bar ?after? the trigger bar (blue up arrow bar in this case). The reverse is true of selling.

This is a simple example how you can use a simple Forex indicator to make a trading decision. Notice that this is just an observation and that in order to profit in Forex you will need to analyze the market further.

Why analyze a market? You need to analyze a market in order to make a decision to buy or sell…or do nothing at all. Let's further explore how Forex technical indicators can be used to help us make trading decisions. In fact, we are going to look at how technical indicators can be used to create simple Forex trading systems.

Simply put, a Forex trading system is a set of rules designed to help you trade Forex profitably. A Forex system generates trading signals. These trading signals tell the trader to take a certain action such as BUY or SELL.

The moving average we are using is a 9-period moving average. Since we are working with daily data this we will be using a 9-day moving average.

Date Open High Low Close Avg.

Table 1.1 Daily EURUSD Raw Data with Simple Moving Average

The table above shows the open, high, low, and close prices with the moving average values in green. As you can see the values of the moving averages changes as the prices of the EURUSD changes,. It ?moves? as the price moves, hence the name

moving averages.

This particular moving average is calculated using the last 9 ?closing? prices (listed under Close in the table).

Below is a daily EURUSD chart showing the buy and sell signals generated by using a simple 9-period moving average trading system we created.

Figure 1.13 Daily EURUSD Data with Simple Moving Average

One of the greatest advantages of using trading systems is to see how they would have performed on past data. If the results on past data look favorable then we may have a

system that will work on future data as well. So how did our 9 period moving average system perform? Let's take a look:

Test Period: 1/20/2003-1/20/2008 Stop Loss Amount = $1000 (100pips)

We have added a risk control measure in the form of a stop loss. A stop loss is an order designed to ?stop loss? on a trading position. If the market moves in a way that causes your position to lose value the stop loss is designed to limit the amount of that loss.

10 Day Simple Moving Average System Net Profit = ~ - $2,300

So far this doesn't seem to be the type of moving average system that we would like to trade. Fortunately for us we can change the parameters of this indicator and research to find one which best suits our needs.

We have run a few tests and found the following:

42 Day Simple Moving Average System Net Profit = ~ $23,000

That's quite a difference in net profit isn't it? As you can see from this simple example it pays to do your research to find indicator settings that work well.

Note: The above examples and all examples that follow are for the purposes of illustration only. They are not meant to suggest that the displayed settings are to be used.

Introducing The Stochastic Oscillator

The next indicator we will explore is called the stochastic oscillator or stochastics for short. Unlike the simple moving average the stochastic oscillator is not displayed on the same scale as the price. It is typically displayed below the prices as shown below.

The stochastic oscillator is grouped within type of technical indicators called oscillators because its value move or oscillate between two extremes. These extremes range between 0-100.

Figure 1.14 Daily EURUSD Data with 14-period Stochastic

The typical interpretation of the stochastic oscillator is as follows:

When the stochastic is over 80 that indicates that the market is overbought and losing upward momentum. Traders can either look to liquidate their long (buy) positions or look to sell.
When the stochastic is below 20 that indicates that the market is oversold and losing downward momentum. Traders can either look to liquidate their short (sell) positions or look to buy.

- Figure 1.15 Daily EURUSD Data
  
  The above chart shows entries and exits based upon using a 14-day stochastic oscillator.
  
  Test Period: 1/20/2003-1/20/2008 Stop Loss Amount = $1000 (100pips)
  
  14 Day Stochastic Oscillator System Net Profit = ~ - $1,900
  
  So far this doesn't seem to be the type of system that we would like to trade. We have run a few tests and found the following:
  
  6 Day and 46 Day Stochastic Oscillator System Net Profit = ~ $22,000
  
  That's quite a difference in net profit isn't it? In this example you are shown two different parameters for the stochastic oscillator to introduce you to a new concept. In the first test we used a single parameter for both the buy and the sell trades. In the second test we used 6 days for our buy entries and 46 days for our sell entries.
  
  Why does this seem to work so well? Because market may behave differently when moving downward than they do when moving upward so the best parameters for a bull market will not necessarily be the best parameters for a bear market.
  
  Note: The above examples and all examples that follow are for the purposes of illustration only. They are not meant to suggest that the displayed settings are to be used.

In Conclusion

The rules, tips, and techniques laid out in this Forex Trading For Beginners guide are designed to lay the groundwork for you to trade successfully. Some of these are hard and fast rules that you definitely must not ignore. Many of the hard and fast Forex trading rules have to do with discipline and risk control. Without these you simply cannot be successful. Even if you are exceptionally well capitalized you can easily make your account disappear without risk control.

Is Forex Trading is NOT a Get-Rich-Quick Scheme?

2014-10-24T08:26:00.001-07:00

Before we go any further we are going to be 100% honest with you and tell you the following before you consider trading currencies:

All forex traders, and we do mean ALL traders, LOSE money on trades.

Ninety percent of traders lose money, largely due to lack of planning, training, discipline, and having poor money management rulesIf you hate to lose or are a super perfectionist, you’ll also probably have a hard time adjusting to trading because all traders lose a trade at some point or another.

Trading forex is not for the unemployed, those on low incomes, are knee-deep in credit card debt or who can’t afford to pay their electricity bill or afford to eat.
You should have at least $10,000 of trading capital (in a mini account) that you can afford to lose. Don’t expect to start an account with a few hundred dollars and expect to become a gazillionaire.

The forex market is one of the most popular markets for speculation, due to its enormous size, liquidity, and tendency for currencies to move in strong trends. You would think traders all over the world would make a killing, but success has been limited to very small percentage of traders.

The problem is that many traders come with the misguided hope of making a gazillion bucks, but in reality, they lack the discipline required for really learning the art of trading. Most people usually lack the discipline to stick to a diet or to go to the gym three times a week.

If you can’t even do that, how do you think you’re going to succeed one of the most difficult, but financially rewarding, endeavors known to man?

Short term trading IS NOT for amateurs, and it is rarely the path to “get rich quick”. You can’t make gigantic profits without taking gigantic risks.

A trading strategy that involves taking a massive degree of risk means suffering inconsistent trading performance and large losses. A trader who does this probably doesn’t even have a trading strategy – unless you call gambling a trading strategy!

Forex Trading is NOT a Get-Rich-Quick Scheme

Forex trading is a SKILL that takes TIME to learn.

Skilled traders can and do make money in this field. However, like any other occupation or career, success doesn’t just happen overnight.

Forex trading isn’t a piece of cake (as some people would like you to believe).

Think about it, if it was, everyone trading would already be millionaires.

The truth is that even expert traders with years of experience still encounter periodic losses.

Drill this in your head: there are NO shortcuts to forex trading.

It takes lots and lots of PRACTICE and EXPERIENCE to master.

There is no substitute for hard work, deliberate practice, and diligence.

Practice trading on a DEMO ACCOUNT until you find a method that you know inside and out, and can comfortably execute objectively. Basically, find the way that works for you!!!

Demo Trading Is The Way of Success Learn Forex by Demo Trade

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You can open a demo accounts for FREE with most forex brokers. These “pretend” accounts have the full capabilities of a “real” account.

But why is it free?

It’s because the broker wants you to learn the ins and outs of their trading platform, and have a good time trading without risk, so you’ll fall in love with them and deposit real money. The demo account allows you to learn about the forex market and test your trading skills with ZERO risk.

Yes, that’s right, ZERO!

YOU SHOULD DEMO TRADE UNTIL YOU DEVELOP A SOLID, PROFITABLE SYSTEM BEFORE YOU EVEN THINK ABOUT PUTTING REAL MONEY ON THE LINE.

WE REPEAT – YOU SHOULD DEMO TRADE UNTIL YOU DEVELOP A SOLID, PROFITABLE SYSTEM BEFORE YOU EVEN THINK ABOUT PUTTING REAL MONEY ON THE LINE.

“Don’t Lose Your Money” Declaration

Now, place your hand on your heart and say…

“I will demo trade until I develop a solid, profitable system before I trade with real money.”

Now touch your head with your index finger and say…

“I am a smart and patient forex trader!”

Do NOT open a live trading account until you are CONSISTENTLY trading PROFITABLY on a demo account.

If you can’t wait until you’re profitable on a demo account, at least demo trade for two months. Hey, at least you were able to hold off losing all your money for two months right? If you can’t hold out for two months, just donate that money to your favorite charity or cut your hands off.

Concentrate on ONE major currency pair.

It gets far too complicated to keep tabs on more than one currency pair when you first start demo trading. Stick with one of the majors because they are the most liquid which makes their spreads cheap.

You can be a winner at currency trading but, as in all other aspects of life, it will take hard work, dedication, a little luck, a lot of common sense, and a whole lot of good judgment.

Types of Forex Orders Guide

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The term “order” refers to how you will enter or exit a trade. Here we discuss the different types of forex orders that can be placed into the forex market.

Be sure that you know which types of orders your broker accepts. Different brokers accept different types of forex orders.

There are some basic order types that all brokers provide and some others that sound weird.

Forex Order Types

Market order

A market order is an order to buy or sell at the best available price.

For example, the bid price for EUR/USD is currently at 1.2140 and the ask price is at 1.2142. If you wanted to buy EUR/USD at market, then it would be sold to you at the ask price of 1.2142. You would click buy and your trading platform would instantly execute a buy order at that exact price.

If you ever shop on Amazon.com, it’s kinda like using their 1-Click ordering. You like the current price, you click once and it’s yours! The only difference is you are buying or selling one currency against another currency instead of buying a Justin Bieber CD.

Limit Entry Order

A limit entry is an order placed to either buy below the market or sell above the market at a certain price.

For example, EUR/USD is currently trading at 1.2050. You want to go short if the price reaches 1.2070. You can either sit in front of your monitor and wait for it to hit 1.2070 (at which point you would click a sell market order), or you can set a sell limit order at 1.2070 (then you could walk away from your computer to attend your ballroom dancing class).

If the price goes up to 1.2070, your trading platform will automatically execute a sell order at the best available price.

You use this type of entry order when you believe price will reverse upon hitting the price you specified!

Stop-Entry Order

A stop-entry order is an order placed to buy above the market or sell below the market at a certain price.

For example, GBP/USD is currently trading at 1.5050 and is heading upward. You believe that price will continue in this direction if it hits 1.5060. You can do one of the following to play this belief: sit in front of your computer and buy at market when it hits 1.5060 OR set a stop-entry order at 1.5060. You use stop-entry orders when you feel that price will move in one direction!

Stop-Loss Order

A stop-loss order is a type of order linked to a trade for the purpose of preventing additional losses if price goes against you. REMEMBER THIS TYPE OF ORDER. A stop-loss order remains in effect until the position is liquidated or you cancel the stop-loss order.

For example, you went long (buy) EUR/USD at 1.2230. To limit your maximum loss, you set a stop-loss order at 1.2200. This means if you were dead wrong and EUR/USD drops to 1.2200 instead of moving up, your trading platform would automatically execute a sell order at 1.2200 the best available price and close out your position for a 30-pip loss (eww!).

Stop-losses are extremely useful if you don’t want to sit in front of your monitor all day worried that you will lose all your money. You can simply set a stop-loss order on any open positions so you won’t miss your basket weaving class or elephant polo game.

Trailing Stop

A trailing stop is a type of stop-loss order attached to a trade that moves as price fluctuates.

Let’s say that you’ve decided to short USD/JPY at 90.80, with a trailing stop of 20 pips. This means that originally, your stop loss is at 91.00. If the price goes down and hits 90.60, your trailing stop would move down to 90.80 (or breakeven).

Just remember though, that your stop will STAY at this new price level. It will not widen if market goes higher against you. Going back to the example, with a trailing stop of 20 pips, if USD/JPY hits 90.40, then your stop would move to 90.60 (or lock in 20 pips profit).

Your trade will remain open as long as price does not move against you by 20 pips. Once the market price hits your trailing stop price, a market order to close your position at the best available price will be sent and your position will be closed.

Weird Forex Orders

“Can I order a Grande extra hot soy with extra foam, extra hot split quad shot with a half squirt of sugar-free white chocolate and a half squirt of sugar-free cinnamon, a half packet of Splenda and put that in a Venti cup and fill up the “room” with extra whipped cream with caramel and chocolate sauce drizzled on top?”

Ooops, wrong weird order.

Good ‘Till Cancelled (GTC)

A GTC order remains active in the market until you decide to cancel it. Your broker will not cancel the order at any time. Therefore, it is your responsibility to remember that you have the order scheduled.

Good for the Day (GFD)

A GFD order remains active in the market until the end of the trading day. Because foreign exchange is a 24-hour market, this usually means 5:00 pm EST since that’s the time U.S. markets close, but we’d recommend you double check with your broker.

One-Cancels-the-Other (OCO)

An OCO order is a mixture of two entry and/or stop-loss orders. Two orders with price and duration variables are placed above and below the current price. When one of the orders is executed the other order is canceled.

Let’s say the price of EUR/USD is 1.2040. You want to either buy at 1.2095 over the resistance level in anticipation of a breakout or initiate a selling position if the price falls below 1.1985. The understanding is that if 1.2095 is reached, your buy order will be triggered and the 1.1985 sell order will be automatically canceled.

One-Triggers-the-Other

An OTO is the opposite of the OCO, as it only puts on orders when the parent order is triggered. You set an OTO order when you want to set profit taking and stop loss levels ahead of time, even before you get in a trade.

For example, USD/CHF is currently trading at 1.2000. You believe that once it hits 1.2100, it will reverse and head downwards but only up to 1.1900. The problem is that you will be gone for an entire week because you have to join a basket weaving competition at the top of Mt. Fuji where there is no internet.

In order to catch the move while you are away, you set a sell limit at 1.2000 and at the same time, place a related buy limit at 1.1900, and just in case, place a stop-loss at 1.2100. As an OTO, both the buy limit and the stop-loss orders will only be placed if your initial sell order at 1.2000 gets triggered.

In conclusion…

The basic forex order types (market, limit entry, stop-entry, stop loss, and trailing stop) are usually all that most traders ever need.

Unless you are a veteran trader (don’t worry, with practice and time you will be), don’t get fancy and design a system of trading requiring a large number of forex orders sandwiched in the market at all times.

Stick with the basic stuff first.

Make sure you fully understand and are comfortable with your broker’s order entry system before executing a trade.

Also, always check with your broker for specific order information and to see if any rollover fees will be applied if a position is held longer than one day. Keeping your ordering rules simple is the best strategy.

DO NOT trade with real money until you have an extremely high comfort level with the trading platform you are using and its order entry system. Erroneous trades are more common than you think!

learn Some Newbie Forex Terms Before Making Your First Trade

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As in any new skill that you learn, you need to learn the lingo… especially if you wish to win your love’s heart. You, the newbie, must know certain terms like the back of your hand before making your first trade. Some of these terms you’ve already learned, but it never hurts to do a little review.

Major and Minor Currencies

The eight most frequently traded currencies (USD, EUR, JPY, GBP, CHF, CAD, NZD, and AUD) are called the major currencies or the “majors.” These are the most liquid and the most sexy. All other currencies are referred to as minor currencies.

Base Currency

The base currency is the first currency in any currency pair. The currency quote shows how much the base currency is worth as measured against the second currency. For example, if the USD/CHF rate equals 1.6350, then one USD is worth CHF 1.6350.

In the forex market, the U.S. dollar is normally considered the “base” currency for quotes, meaning that quotes are expressed as a unit of 1 USD per the other currency quoted in the pair. The primary exceptions to this rule are the British pound, the euro, and the Australian and New Zealand dollar.

Quote Currency

The quote currency is the second currency in any currency pair. This is frequently called the pip currency and any unrealized profit or loss is expressed in this currency.

Pip

A pip is the smallest unit of price for any currency. Nearly all currency pairs consist of five significant digits and most pairs have the decimal point immediately after the first digit, that is, EUR/USD equals 1.2538. In this instance, a single pip equals the smallest change in the fourth decimal place – that is, 0.0001. Therefore, if the quote currency in any pair is USD, then one pip always equal 1/100 of a cent.

Notable exceptions are pairs that include the Japanese yen where a pip equals 0.01.

Pipette

One-tenth of a pip. Some brokers quote fractional pips, or pipettes, for added precision in quoting rates. For example, if EUR/USD moved from 1.32156 to 1.32158, it moved 2 pipettes.

Bid Price

The bid is the price at which the market is prepared to buy a specific currency pair in the forex market. At this price, the trader can sell the base currency. It is shown on the left side of the quotation.

For example, in the quote GBP/USD 1.8812/15, the bid price is 1.8812. This means you sell one British pound for 1.8812 U.S. dollars.

Ask/Offer Price

The ask/offer is the price at which the market is prepared to sell a specific currency pair in the forex market. At this price, you can buy the base currency. It is shown on the right side of the quotation.

For example, in the quote EUR/USD 1.2812/15, the ask price is 1.2815. This means you can buy one euro for 1.2815 U.S. dollars. The ask price is also called the offer price.

Bid/Ask Spread

The spread is the difference between the bid and ask price. The “big figure quote” is the dealer expression referring to the first few digits of an exchange rate. These digits are often omitted in dealer quotes. For example, the USD/JPY rate might be 118.30/118.34, but would be quoted verbally without the first three digits as “30/34.” In this example, USD/JPY has a 4-pip spread.

Quote Convention

Exchange rates in the forex market are expressed using the following format:

Base currency / Quote currency = Bid / Ask

Transaction Cost

The critical characteristic of the bid/ask spread is that it is also the transaction cost for a round-turn trade. Round-turn means a buy (or sell) trade and an offsetting sell (or buy) trade of the same size in the same currency pair. For example, in the case of the EUR/USD rate of 1.2812/15, the transaction cost is three pips.

The formula for calculating the transaction cost is:

Transaction cost (spread) = Ask Price – Bid Price

Cross Currency

A cross currency is any pair in which neither currency is the U.S. dollar. These pairs exhibit erratic price behavior since the trader has, in effect, initiated two USD trades. For example, initiating a long (buy) EUR/GBP is equivalent to buying a EUR/USD currency pair and selling GBP/USD. Cross currency pairs frequently carry a higher transaction cost.

Margin

When you open a new margin account with a forex broker, you must deposit a minimum amount with that broker. This minimum varies from broker to broker and can be as low as $100 to as high as $100,000.

Each time you execute a new trade, a certain percentage of the account balance in the margin account will be set aside as the initial margin requirement for the new trade based upon the underlying currency pair, its current price, and the number of units (or lots) traded. The lot size always refers to the base currency.

For example, let’s say you open a mini account which provides a 200:1 leverage or 0.5% margin. Mini accounts trade mini lots. Let’s say one mini lot equals $10,000. If you were to open one mini-lot, instead of having to provide the full $10,000, you would only need $50 ($10,000 x 0.5% = $50).

Leverage

Leverage is the ratio of the amount capital used in a transaction to the required security deposit (margin). It is the ability to control large dollar amounts of a security with a relatively small amount of capital. Leveraging varies dramatically with different brokers, ranging from 2:1 to 500:1.

Now that you’ve impressed your dates with your forex lingo, how about showing her the different types of trade orders?

What is Lot in Forex Guide

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In the past, spot forex was only traded in specific amounts called lots. The standard size for a lot is 100,000 units. There are also a mini, micro, and nano lot sizes that are 10,000, 1,000, and 100 units respectively.

Lot	Number of Units
Standard	100,000
Mini	10,000
Micro	1,000
Nano	100

As you may already know, the change in currency value relative to another is measured in “pips,” which is a very, very small percentage of a unit of currency’s value. To take advantage of this minute change in value, you need to trade large amounts of a particular currency in order to see any significant profit or loss.

Let’s assume we will be using a 100,000 unit (standard) lot size. We will now recalculate some examples to see how it affects the pip value.

USD/JPY at an exchange rate of 119.80(.01 / 119.80) x 100,000 = $8.34 per pip
USD/CHF at an exchange rate of 1.4555(.0001 / 1.4555) x 100,000 = $6.87 per pip

In cases where the U.S. dollar is not quoted first, the formula is slightly different.

EUR/USD at an exchange rate of 1.1930(.0001 / 1.1930) X 100,000 = 8.38 x 1.1930 = $9.99734 rounded up will be $10 per pip
GBP/USD at an exchange rate or 1.8040(.0001 / 1.8040) x 100,000 = 5.54 x 1.8040 = 9.99416 rounded up will be $10 per pip.

Your broker may have a different convention for calculating pip value relative to lot size but whichever way they do it, they’ll be able to tell you what the pip value is for the currency you are trading is at the particular time. As the market moves, so will the pip value depending on what currency you are currently trading.

What the heck is leverage?

You are probably wondering how a small investor like yourself can trade such large amounts of money. Think of your broker as a bank who basically fronts you $100,000 to buy currencies. All the bank asks from you is that you give it $1,000 as a good faith deposit, which he will hold for you but not necessarily keep. Sounds too good to be true? This is how forex trading using leverage works.

The amount of leverage you use will depend on your broker and what you feel comfortable with.

Typically the broker will require a trade deposit, also known as “account margin” or “initial margin.” Once you have deposited your money you will then be able to trade. The broker will also specify how much they require per position (lot) traded.

For example, if the allowed leverage is 100:1 (or 1% of position required), and you wanted to trade a position worth $100,000, but you only have $5,000 in your account. No problem as your broker would set aside $1,000 as down payment, or the “margin,” and let you “borrow” the rest. Of course, any losses or gains will be deducted or added to the remaining cash balance in your account.

The minimum security (margin) for each lot will vary from broker to broker. In the example above, the broker required a one percent margin. This means that for every $100,000 traded, the broker wants $1,000 as a deposit on the position.

How the heck do I calculate profit and loss?

So now that you know how to calculate pip value and leverage, let’s look at how you calculate your profit or loss.

Let’s buy U.S. dollars and Sell Swiss francs.

The rate you are quoted is 1.4525 / 1.4530. Because you are buying U.S. dollars you will be working on the “ask” price of 1.4530, or the rate at which traders are prepared to sell.
So you buy 1 standard lot (100,000 units) at 1.4530.
A few hours later, the price moves to 1.4550 and you decide to close your trade.
The new quote for USD/CHF is 1.4550 / 1.4555. Since you’re closing your trade and you initially bought to enter the trade, you now sell in order to close the trade so you must take the “bid” price of 1.4550. The price traders are prepared to buy at.
The difference between 1.4530 and 1.4550 is .0020 or 20 pips.
Using our formula from before, we now have (.0001/1.4550) x 100,000 = $6.87 per pip x 20 pips = $137.40

Remember, when you enter or exit a trade, you are subject to the spread in the bid/offer quote. When you buy a currency, you will use the offer or ask price and when you sell, you will use the bid price.

Next up, we’ll give you a roundup of the freshest forex lingos you’ve learned!

What is Pip in Forex Guide

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Here is where we’re going to do a little math. You’ve probably heard of the terms “pips,” “pipettes,” and “lots” thrown around, and here we’re going to explain what they are and show you how their values are calculated.

Take your time with this information, as it is required knowledge for all forex traders. Don’t even think about trading until you are comfortable with pip values and calculating profit and loss.

What the heck is a Pip? What about a Pipette?

The unit of measurement to express the change in value between two currencies is called a “pip.” If EUR/USD moves from 1.2250 to 1.2251, that .0001 USD rise in value is ONE PIP. A pip is usually the last decimal place of a quotation. Most pairs go out to 4 decimal places, but there are some exceptions like Japanese Yen pairs (they go out to two decimal places).

Very Important: There are brokers that quote currency pairs beyond the standard “4 and 2″ decimal places to “5 and 3″ decimal places. They are quoting FRACTIONAL PIPS, also called “pipettes.” For instance, if GBP/USD moves from 1.51542 to 1.51543, that .00001 USD move higher is ONE PIPETTE.

As each currency has its own relative value, it’s necessary to calculate the value of a pip for that particular currency pair. In the following example, we will use a quote with 4 decimal places. For the purpose of better explaining the calculations, exchange rates will be expressed as a ratio (i.e., EUR/USD at 1.2500 will be written as “1 EUR/ 1.2500 USD”)

Example exchange rate ratio: USD/CAD = 1.0200. To be read as 1 USD to 1.0200 CAD (or 1 USD/1.0200 CAD)

(The value change in counter currency) times the exchange rate ratio = pip value (in terms of the base currency)

[.0001 CAD] x [1 USD/1.0200 CAD]

Or Simply

[(.0001 CAD) / (1.0200 CAD)] x 1 USD = 0.00009804 USD per unit traded

Using this example, if we traded 10,000 units of USD/CAD, then a one pip change to the exchange rate would be approximately a 0.98 USD change in the position value (10,000 units x 0.0000984 USD/unit). (We use “approximately” because as the exchange rate changes, so does the value of each pip move)

Here’s another example using a currency pair with the Japanese Yen as the counter currency.

GBP/JPY at 123.00

Notice that this currency pair only goes to two decimal places to measure a 1 pip change in value (most of the other currencies have four decimal places). In this case, a one pip move would be .01 JPY.

(The value change in counter currency) times the exchange rate ratio = pip value (in terms of the base currency)[.01 JPY] x [1 GBP/123.00 JPY]

Or Simply

[(.01 JPY) / (123.00 JPY)] x 1 GBP = 0.0000813 GBP

So, when trading 10,000 units of GBP/JPY, each pip change in value is worth approximately 0.813 GBP.

Finding the Pip Value in your Account Denomination

Now, the final question to ask when figuring out the pip value of your position is, “what is the pip value in terms of my account currency?” After all, it is a global market and not everyone has their account denominated in the same currency. This means that the pip value will have to be translated to whatever currency our account may be traded in.

This calculation is probably the easiest of all; simply multiply/divide the “found pip value” by the exchange rate of your account currency and the currency in question.

If the “found pip value” currency is the same currency as the base currency in the exchange rate quote:

Using the GBP/JPY example above, let’s convert the found pip value of .813 GBP to the pip value in USD by using GBP/USD at 1.5590 as our exchange rate ratio. If the currency you are converting to is the counter currency of the exchange rate, all you have to do is divide the “found pip value” by the corresponding exchange rate ratio:

.813 GBP per pip / (1 GBP/1.5590 USD)Or

[(.813 GBP) / (1 GBP)] x (1.5590 USD) = 1.2674 USD per pip move

So, for every .01 pip move in GBP/JPY, the value of a 10,000 unit position changes by approximately 1.27 USD.

If the currency you are converting to is the base currency of the conversion exchange rate ratio, then multiply the “found pip value” by the conversion exchange rate ratio.

Using our USD/CAD example above, we want to find the pip value of .98 USD in New Zealand Dollars. We’ll use .7900 as our conversion exchange rate ratio:

0.98 USD per pip X (1 NZD/.7900 USD)Or

[(0.98 USD) / (.7900 USD)] x (1 NZD) = 1.2405 NZD per pip move

For every .0001 pip move in USD/CAD from the example above, your 10,000 unit position changes in value by approximately 1.24 NZD.

Even though you’re now a math genius–at least with pip values–you’re probably rolling your eyes back and thinking, “Do I really need to work all this out?” Well, the answer is a big fat NO. Nearly all forex brokers will work all this out for you automatically, but it’s always good for you to know how they work it out.

If your broker doesn’t happen to do this, don’t worry – you can use our Pip Value Calculator! Aren’t we awesome?

In the next section, we will discuss how these seemingly insignificant amounts can add up.

Trading with 5 decimal pricing

Adding 5th decimal to the price quotes requires traders to adjust own pip calculations, such as profit and stop values, trailing stops, limit orders etc.

For example, when trading with 4 decimal quotes, if a trader wants to capture 30 pips of Profit, he sets a Profit target value to 30.

With 5 digit quotes a trader would need to input 300 to be able to exit with 30 pips Profit. The last digit "0" is a fractional pip.

Expert Advisors trading with 5 digit brokers

Be sure to check if your Expert Advisor supports 5 decimal pricing. Not every EA does this, and you can get in trouble, or most likely will be unable to take any trades with such EA.

A simple demo test of your robot with 5 digit broker will tell if any adjustments are needed.

When to Buy or Sell a Currency Pair Guide

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In the following examples, we are going to use fundamental analysis to help us decide whether to buy or sell a specific currency pair.

If you always fell asleep during your economics class or just flat out skipped economics class, don’t worry! We will cover fundamental analysis in a later lesson.

But right now, try to pretend you know what’s going on…
EUR/USD

In this example, the euro is the base currency and thus the “basis” for the buy/sell.

If you believe that the U.S. economy will continue to weaken, which is bad for the U.S. dollar, you would execute a BUY EUR/USD order. By doing so, you have bought euros in the expectation that they will rise versus the U.S. dollar.

If you believe that the U.S. economy is strong and the euro will weaken against the U.S. dollar you would execute a SELL EUR/USD order. By doing so you have sold euros in the expectation that they will fall versus the US dollar.
USD/JPY

In this example, the U.S. dollar is the base currency and thus the “basis” for the buy/sell.

If you think that the Japanese government is going to weaken the yen in order to help its export industry, you would execute a BUY USD/JPY order. By doing so you have bought U.S dollars in the expectation that they will rise versus the Japanese yen.

If you believe that Japanese investors are pulling money out of U.S. financial markets and converting all their U.S. dollars back to yen, and this will hurt the U.S. dollar, you would execute a SELL USD/JPY order. By doing so you have sold U.S dollars in the expectation that they will depreciate against the Japanese yen.
GBP/USD

In this example, the pound is the base currency and thus the “basis” for the buy/sell.

If you think the British economy will continue to do better than the U.S. in terms of economic growth, you would execute a BUY GBP/USD order. By doing so you have bought pounds in the expectation that they will rise versus the U.S. dollar.

If you believe the British’s economy is slowing while the United States’ economy remains strong like Jack Bauer, you would execute a SELL GBP/USD order. By doing so you have sold pounds in the expectation that they will depreciate against the U.S. dollar.
USD/CHF

In this example, the U.S. dollar is the base currency and thus the “basis” for the buy/sell.

If you think the Swiss franc is overvalued, you would execute a BUY USD/CHF order. By doing so you have bought U.S. dollars in the expectation that they will appreciate versus the Swiss Franc.

If you believe that the U.S. housing market weakness will hurt future economic growth, which will weaken the dollar, you would execute a SELL USD/CHF order. By doing so you have sold U.S. dollars in the expectation that they will depreciate against the Swiss franc.
Margin Trading

When you go to the grocery store and want to buy an egg, you can’t just buy a single egg; they come in dozens or “lots” of 12.

In forex, it would be just as foolish to buy or sell 1 euro, so they usually come in “lots” of 1,000 units of currency (Micro), 10,000 units (Mini), or 100,000 units (Standard) depending on your broker and the type of account you have (more on “lots” later).

“But I don’t have enough money to buy 10,000 euros! Can I still trade?”

You can with margin trading!

Margin trading is simply the term used for trading with borrowed capital. This is how you’re able to open $1,250 or $50,000 positions with as little as $25 or $1,000. You can conduct relatively large transactions, very quickly and cheaply, with a small amount of initial capital.

Let us explain.

Listen carefully because this is very important!

You believe that signals in the market are indicating that the British pound will go up against the U.S. dollar.
You open one standard lot (100,000 units GBP/USD), buying with the British pound at 2% margin and wait for the exchange rate to climb. When you buy one lot (100,000 units) of GBP/USD at a price of 1.50000, you are buying 100,000 pounds, which is worth US$150,000 (100,000 units of GBP * 1.50000).If the margin requirement was 2%, then US$3,000 would be set aside in your account to open up the trade (US$150,000 * 2%). You now control 100,000 pounds with just US$3,000.We will be discussing margin more in-depth later, but hopefully you’re able to get a basic idea of how it works.
Your predictions come true and you decide to sell. You close the position at 1.50500. You earn about $500.

Your Actions	GBP	USD
You buy 100,000 pounds at the exchange rate of 1.5000	+100,000	-150,000
You blink for two seconds and the GBP/USD exchange rates rises to 1.5050 and you sell.	-100,000	+150,500
You have earned a profit of $500.	0	+500

When you decide to close a position, the deposit that you originally made is returned to you and a calculation of your profits or losses is done.

This profit or loss is then credited to your account.

What’s even better is that, with the development of retail forex trading, there are some brokers who allow traders to have custom lots. This means that you don’t need to trade in micro, mini or standard lots! If 1,542 is your favorite number and that’s how many units you want trade, then you can!

Rollover

No, this is not the same as rollover minutes from your cell phone carrier! For positions open at your broker’s “cut-off time” (usually 5:00 pm EST), there is a daily rollover interest rate that a trader either pays or earns, depending on your established margin and position in the market.

If you do not want to earn or pay interest on your positions, simply make sure they are all closed before 5:00 pm EST, the established end of the market day.

Since every currency trade involves borrowing one currency to buy another, interest rollover charges are part of forex trading. Interest is paid on the currency that is borrowed, and earned on the one that is bought.

If you are buying a currency with a higher interest rate than the one you are borrowing, then the net interest rate differential will be positive (i.e. USD/JPY) and you will earn funds as a result.

Conversely, if the interest rate differential is negative then you will have to pay.

Ask your broker or dealer about specific details regarding rollover.

Also note that many retail brokers do adjust their rollover rates based on different factors (e.g., account leverage, interbank lending rates). Please check with your broker for more information on rollover rates and crediting/debiting procedures.

Here is a chart to help you figure out the interest rate differentials of the major currencies. Accurate as of 07/25/2014.

Benchmark Interest Rates:

Country	Interest Rate
United States	0.25%
Euro zone	0.15%
United Kingdom	0.50%
Japan	0.10%
Canada	1.00%
Australia	2.50%
New Zealand	3.50%
Switzerland	0.00%

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InstaForex Forex Trading For Beginners Complete Step by Step Guide Free

The Basics of FOREX Trading for Beginners

Forex Trading For Beginners Chart 1.1 Daily GBPUSD Data

How To Get Started With Forex Trading

Introduction To A Basic FOREX Strategy for beginners

Technical Analysis for forex trading beginners

Introduction To Forex Charts for beginners

Open – Opening price of the time period used High - Highest price of the time period used Low - Lowest price of the time period used Close – Last price of the time period used Below is a typical bar of a bar chart

Forex Trading For Beginners Bar Chart 1.1

Figure 1.4 Daily EURUSD Data

Figure 1.5 4-Hour EURUSD Data

Figure 1.6 1-Hour EURUSD Data

Figure 1.7 5-Minute EURUSD Data

Figure 1.8 Daily EURUSD Candlestick Data

Figure 1.9 Daily EURUSD Candlestick Data

Figure 1.10 Daily EURUSD Candlestick Data

Forex Charts, Technical Indicators, and Forex Trading Systems

Figure 1.11 Daily EURUSD Data

Figure 1.12 Daily EURUSD Data

Date Open High Low Close Avg.

Table 1.1 Daily EURUSD Raw Data with Simple Moving Average

Figure 1.13 Daily EURUSD Data with Simple Moving Average

Test Period: 1/20/2003-1/20/2008 Stop Loss Amount = $1000 (100pips)

Note: The above examples and all examples that follow are for the purposes of illustration only. They are not meant to suggest that the displayed settings are to be used.

Introducing The Stochastic Oscillator

Figure 1.14 Daily EURUSD Data with 14-period Stochastic

Figure 1.15 Daily EURUSD Data

Test Period: 1/20/2003-1/20/2008 Stop Loss Amount = $1000 (100pips)

Note: The above examples and all examples that follow are for the purposes of illustration only. They are not meant to suggest that the displayed settings are to be used.

Is Forex Trading is NOT a Get-Rich-Quick Scheme?

Forex Trading is NOT a Get-Rich-Quick Scheme

Demo Trading Is The Way of Success Learn Forex by Demo Trade

“Don’t Lose Your Money” Declaration

Concentrate on ONE major currency pair.

Types of Forex Orders Guide

Forex Order Types

Market order

Limit Entry Order

Stop-Entry Order

Stop-Loss Order

Trailing Stop

Weird Forex Orders

Good ‘Till Cancelled (GTC)

Good for the Day (GFD)

One-Cancels-the-Other (OCO)

One-Triggers-the-Other

In conclusion…

learn Some Newbie Forex Terms Before Making Your First Trade

Major and Minor Currencies

Base Currency

Quote Currency

Pip

Pipette

Bid Price

Ask/Offer Price

Bid/Ask Spread

Quote Convention

Transaction Cost

Cross Currency

Margin

Leverage

What is Lot in Forex Guide

What the heck is leverage?

How the heck do I calculate profit and loss?

What is Pip in Forex Guide

Trading with 5 decimal pricing

Expert Advisors trading with 5 digit brokers

When to Buy or Sell a Currency Pair Guide

Benchmark Interest Rates: