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Learn To Trade the Forex Markets - The World's Most Exciting Way To Trade!
Forex Trading (or foreign currency trading) is a fast-paced and exciting way to profit from moves in the world financial markets.Smart investors can predict and then take advantage of fluctuations in the value of one currency as it relates to another. With a highly-leveraged account, a trader can start with as little as $300, and control tens of thousands of dollars worth of foreign currency. Even a change in the value of a currency of only half a cent can create profits that total in the thousands of dollars!
Getting started in the world of Forex investing is easy! All you need to do is find a reputable broker and open an account. Then, simply fund the account, learn the basics of trading, and you're on your way.
Of course, you can't expect to make money without a lot of practice. Before you even think about investing your own money, it is essential that you use your broker's demo function to get used to the trading platform, and test out your strategies.
Without years of experience, and loads of data at your fingertips, you can't really expect to create a successful trading strategy on your own. Fortunately, there are several investors who have discovered successful strategies, and they are willing to share them or sell them for a reasonable price.
Forex Forums like Forex Factory and MoneyTec are great resources for beginners.
Books like Simple Forex and Bird Watching In Lion Country layout specific strategies that have proven to be successful and can be traded by anyone willing to employ these strategies.
Recent Forex News
Forex Technical Analysis Reports (ActionForex.com)
Technical analysis reports from selected analysts around the world on forex market. Available in ActionForex.com
Chart Of The Day: NZD/JPY
After breaking down below a rather well-defined inverted pennant formation on the NZD/JPY daily chart, as shown, price action has just approached a significant long-term uptrend support line. This uptrend line is represented on the chart by the long, green line. With at least four separate touches with reversals since...
Daily Forex Outlook: USD/JPY
The chart shows my working count for the movement started from 105.56. The fall is spectacular but I do not think that it is impulsive in nature. I labeled this movement as a corrective combination and if it is already over, one should expect at least 61.8 % retracement. With...
FX Thoughts for the Day
The Aussie is likely to continue to trade sideways between 0.9330-9530 for some more days, possibly for a few more weeks. In the longer term, it is gearing up for a big move of 300-500 points, which could see it either rise towards 1.00 or fall towards 0.90. This might...
Daily Technical Strategist
EUR recovered higher to close the session at 1.5405 Thursday after pushing below its May 02'08/Mar 24'08 lows/.382 Ret (1.4438-1.6018 rally) at 1.5360/41 on intra basis. A follow-through to the upside in early trading today suggests that the said recovery off the 1.5288 low has some more upside to go....
Euro May Enter Fastest Part of Decline
As stated yesterday, we are bearish as long as price is below 1.5594 (red line). An unexpected move above there would cause us to reassess the situation. As it stands now though, we are treating the decline from 1.6018 as a series of 1st and 2nd waves (or A-B-1 and...
Newsfeed display by CaRP
Forex Fundamental Analysis Reports (ActionForex.com)
Fundamental analysis reports from selected analysts around the world on forex market. Available in ActionForex.com
US Dollar: US Retail Sales Could Get A Surprise Boost on Tuesday - Why?
Advance Retail Sales are expected to fall back 0.2 percent after showing a surprising 0.2 percent gain during the month prior, but given the current economic scenario, this figure could prove to be even more disappointing when announced at 8:30 EDT. Indeed, consumer confidence is rapidly deteriorating and energy prices...
US Dollar: Selectivity Remains the Key
The US dollar has satisfied both bulls and bears this week depending upon the currency pair in question. In last Friday's Daily Fundamentals, we said that “although we expect a continual rally in the US dollar, traders need to be careful of what they buy.” We had indicated that the...
US Dollar Consolidates As Oil Tops $126
The US dollar was mixed as raging oil prices above $126/bbl pressed on investors, but led the Canadian dollar to pick up the biggest gains. The Australian and New Zealand dollar however, depreciated the most against the US dollar, sparked by a rise in risk aversion. On the other side...
Carry-Trade Unwinding Supports Yen
The dollar fell against most major currencies on Friday but pared some of its losses after a government report showed the US trade deficit narrowed more than forecast. The yen and Swiss franc benefited from increased risk aversion, as credit-market losses by America international Group Inc. spurred investors to sell...
Decline in March Trade Gap Should Help to Boost Q1 GDP
Broad-based declines in imports, which reflect some statistical payback from strength during the previous month, caused the trade gap to narrow in March. By itself, the revised trade data would boost real GDP growth in the first quarter from 0.6 percent to 1.3 percent.
Newsfeed display by CaRP
Forex Technical Analysis Reports (ActionForex.com)
Technical analysis reports from selected analysts around the world on forex market. Available in ActionForex.com
Chart Of The Day: NZD/JPY
After breaking down below a rather well-defined inverted pennant formation on the NZD/JPY daily chart, as shown, price action has just approached a significant long-term uptrend support line. This uptrend line is represented on the chart by the long, green line. With at least four separate touches with reversals since...
Daily Forex Outlook: USD/JPY
The chart shows my working count for the movement started from 105.56. The fall is spectacular but I do not think that it is impulsive in nature. I labeled this movement as a corrective combination and if it is already over, one should expect at least 61.8 % retracement. With...
FX Thoughts for the Day
The Aussie is likely to continue to trade sideways between 0.9330-9530 for some more days, possibly for a few more weeks. In the longer term, it is gearing up for a big move of 300-500 points, which could see it either rise towards 1.00 or fall towards 0.90. This might...
Daily Technical Strategist
EUR recovered higher to close the session at 1.5405 Thursday after pushing below its May 02'08/Mar 24'08 lows/.382 Ret (1.4438-1.6018 rally) at 1.5360/41 on intra basis. A follow-through to the upside in early trading today suggests that the said recovery off the 1.5288 low has some more upside to go....
Euro May Enter Fastest Part of Decline
As stated yesterday, we are bearish as long as price is below 1.5594 (red line). An unexpected move above there would cause us to reassess the situation. As it stands now though, we are treating the decline from 1.6018 as a series of 1st and 2nd waves (or A-B-1 and...
Newsfeed display by CaRP
Forex Fundamental Analysis Reports (ActionForex.com)
Fundamental analysis reports from selected analysts around the world on forex market. Available in ActionForex.com
US Dollar: US Retail Sales Could Get A Surprise Boost on Tuesday - Why?
Advance Retail Sales are expected to fall back 0.2 percent after showing a surprising 0.2 percent gain during the month prior, but given the current economic scenario, this figure could prove to be even more disappointing when announced at 8:30 EDT. Indeed, consumer confidence is rapidly deteriorating and energy prices...
US Dollar: Selectivity Remains the Key
The US dollar has satisfied both bulls and bears this week depending upon the currency pair in question. In last Friday's Daily Fundamentals, we said that “although we expect a continual rally in the US dollar, traders need to be careful of what they buy.” We had indicated that the...
US Dollar Consolidates As Oil Tops $126
The US dollar was mixed as raging oil prices above $126/bbl pressed on investors, but led the Canadian dollar to pick up the biggest gains. The Australian and New Zealand dollar however, depreciated the most against the US dollar, sparked by a rise in risk aversion. On the other side...
Carry-Trade Unwinding Supports Yen
The dollar fell against most major currencies on Friday but pared some of its losses after a government report showed the US trade deficit narrowed more than forecast. The yen and Swiss franc benefited from increased risk aversion, as credit-market losses by America international Group Inc. spurred investors to sell...
Decline in March Trade Gap Should Help to Boost Q1 GDP
Broad-based declines in imports, which reflect some statistical payback from strength during the previous month, caused the trade gap to narrow in March. By itself, the revised trade data would boost real GDP growth in the first quarter from 0.6 percent to 1.3 percent.
Newsfeed display by CaRP