Introduction to Forex

Do you know Forex? Forex trading can help you to earn lot of money. “Forex” is the short form of Forex Exchange. Forex trading can definitely yield high profits. Anyone can do Forex trading via Forex brokers. Forex market mainly consists of currency traders that speculate on fluctuations in exchange

The best Foreign Currency Traders

The versatility and gains attracts many investors to become Forex traders and Forex Brokers. The liquidity of the Foreign Exchange Market is also very attractive for the Forex investor as trades range from 1 to 1.5 trillion dollars on a daily basis. These massive amounts of trades make it extremely difficult for any one trader to affect the market. Also, Forex prices can change at any moment in response to real-time events, such as political unrest or the rate of inflation. Currency market players typically use "Forex analysis" as a means of predicting currency price movements.

Best Forex Trading Broker

Some major Forex advantage lies in its accessibility. One can trade for 24 hours a day, 5 days a week. One can do their entire trading on computer as well. Now, to make it a successful deal, one needs the help of experts who will help understand FX signals. And utilize tools that can present comprehensive market analysis right in front of your eyes. At the same time, it is important the information be updated on a regular basis

Free Online Forex Trading

Foreign Exchange Market has the potential of being extremely lucrative. One can learn to trade by creating an online Forex Account and begin by using a learning account without real funds. This will help you to understand the Forex trading process and how currencies are affected by different things that are happening on a global scale. Remember, the FX market is one that is extremely volatile and extremely hard to read sometimes, with the possibility of more than a few hundred factors working all at one to change exchange rates and price movements

July 24, 2009

Weekly Trading Update - 20-24 July 2009

After the disappointment of last week, it's been a much more profitable week this week. My 4 hour trading system generated three decent set-ups (on the GBP/USD, GBP/JPY and USD/JPY pairs) and thankfully all of them worked out nicely.

The first two trades occurred on the GBP/JPY and USD/JPY pairs at roughly the same time on Tuesday evening. The daily Supertrend was (and still is) red so I was only looking for opportunities to go short and the EMAs did indeed cross downwards on the 4 hour chart for both of these pairs.

I went short on the GBP/JPY at 154.10 and opened a short position at 93.73 on the USD/JPY pair. Unfortunately they didn't move very much straight away so I had to let them run overnight. I set my profit targets at 100 and 40 points respectively. The 100 point target was triggered overnight on the GBP/JPY pair but the USD/JPY trade was still running when I woke up the next morning. However it did move nicely downwards and I managed to close half the position for 40 points and let the other half run, moving my stop loss down to break-even, however this stop loss was later taken out.

The other trade this week was on the GBP/USD pair. This pair is still in an upwards trend according to the Supertrend indicator on the daily chart so I was looking for upwards EMA crossovers on the 4 hour chart. I missed the first one unfortunately, because it happened between Sunday evening and Monday morning, but I did manage to catch the second crossover. This one occurred on Wednesday and I managed to go long at 1.6437.