Foreign Exchange Online Trading

To become a Foreign exchange participant, you should at least read a book, if not take a course. Because real money is involved here, you must proceed with utmost caution.

Many Foreign exchange investors sign up with Foreign exchange related websites to receive newsletters, advice, and to keep up with currency trends. Some investors even sign up to receive trends on their phones and PDA's to stay in the game.

The good news is that you have the opportunity to practice with play money before you put any of your hard-earned cash through the Foreign exchange market. When you sign up with a brokerage firm that offers the option to trade online, you can use play money to test and understand the software.

You can use this valuable opportunity to put your research to the test by trying out different trading methods to see if your predictions and analyses are correct. While the money may not be real, the conditions are, which allow you a stable playground to learn and adapt to the Foreign exchange market.

ForexGen | Euro, British Pound Retrace as Risk Trends Look Uncertain

The Euro and the British Pound pulled back from US session highs in overnight trading as mixed results on Asian stock exchange painted an increasingly uncertain picture of risk sentiment. UK Gross Domestic Product and German CPI are set to offer predictably dour results, with forex traders likely looking past the European calendar to US releases for direction cues.

Key Overnight Developments

• Euro, Pound Pull Back From NY Session Highs

• Risk Trends Murky as Stocks Send Mixed Signals Overnight

Critical Levels




The Euro pulled back below the 1.30 level in overnight trading having reached as high as 1.3080 in during the US session. The British Pound followed suit, edging towards 1.53 having fallen over 200 pips from the high at 1.5534.

Asia Session Highlights




With no market-moving data on the economic calendar, trading in the forex markets took on a corrective tone overnight with the US Dollar recapturing a bit of lost ground after the sharp selloff in the US session. The greenback tumbled as risk appetite rebounded just before the opening bell on Wall St when the Federal Reserve announced it would commit up to $800 billion to boost credit access for consumers, homebuyers, and small businesses. The central bank said it would offer $200 billion in a program to extend lending directly to credit-seekers as well as spend $600 billion on buy up debt issued or backed by government-chartered companies like Fannie Mae and Freddie Mac. US Treasury Secretary Henry Paulson said the direct $200-billion facility was just a “starting point”, stressing that “It’s very important that lending continue to be available” in the absence of private firms’ willingness to dole out loans.

ForexGen White Labels
Forex White Label partnership allows the trader a quick access to the online foreign currency exchange market.

ForexGen provides two types of trading White Label partnerships, a limited and a full solution. ForexGen different types of forex White Label partners are able to access ForexGen's trading platform entirely branded under each partner's unique company image and name. We provide a customizable online trading platform for the different types of the two White Label solutions.

Forex scalping

Forex scalping and day trading are more popular than ever but it's simply the best way to wipe out your equity quickly. Here we will give you the facts about forex scalping and why it is based on unsound logic which will see you lose.

First let me ask you a question:
There are millions of traders all around the world from banks to private traders, trading trillions of dollars all with different methods, motivations and diverse opinions.
How is it possible to tell what this huge diverse mass will do in a few hours?
Know the answer?
Well if you do you can make money at forex scalping - but it's obvious that you can't predict what this vast mass will do in a few hours but forex scalpers try. Here are some of the answers you get form vendors selling systems .
1. Support & Resistance is Valid In a Day and can be Traded
Fact: Its not - volatility is totally random, prices can and do go anywhere and support and resistance levels in daily time frames are not tradable.
2. Markets Move Scientifically
Fact: This is absolute rubbish! If there were a scientific theory that worked, everyone would know the market price in advance and their would be no market! Markets move because they are not certain and while human nature is constant it certainly is not logical and predictable with scientific accuracy.
Anyway, if anyone had found a theory that worked all the time they would be to busy making money to bother anyone else.
You will see lots of forex scalping courses on the net, all promising 50 ticks a day, regular incomes and the ability to predict prices in advance - It's a wonder anyone has to go to work! Buy one of these for $100 odd bucks, sit back and earn money for doing nothing - if only it were that easy.

If ever you see a day trading or forex scalping track record it's a simulation - simply look for this disclaimer or a similar one:
"CFTC RULE 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown".
So there you have it - a vendor can make up any track record he likes in hindsight and of course they do (they have the sense not to trade it themselves) and simply put the above disclaimer on it.
Naïve and greedy traders can't resist it like bees at a honey pot, later they get a sharp lesson in trading reality - a wipeout.
The way To Make Money in FOREX
Is to forget day trading and forex scalping and trade time frames where you can get the odds in your favor and that means forex swing trading or forex trend following. The former looks for trends of a few days to about a week and the latter for weeks or months. Which you choose is up to you but with both methods ,the data is long enough for you to calculate the odds and enjoy currency trading success which is more than can be said for forex scalping.
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Wherever you look on the net

you will say adverts for forex scalping and day trading systems which promise regular profits that can make you rich but there is a problem, none of them work, because forex scalping is based on logic that simply is not correct...
The problem of course is prices are determined by humans and I such short time spans as a day you have no way of knowing which way prices are going to go.
Millions of traders all using different methods and governed by the emotions of greed and fear cannot be predicted in such short time spans. This means that daily volatility is random, prices can and do go anywhere in a day and support and resistance is meaningless.

You will always see track records that make huge profits presented but they are all done knowing the closing prices! Let's face it if a track record looks to good to be true it normally is and this applies to forex scalping and day trading systems.
You can simply look for a disclaimer and you will normally find this one or similar on any track record.
"CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN".

Of course if we all knew today's prices in advance, we would all be rich but we don't.
Forex trading is harder - you have to trade going forward not backwards.
Vendors who sell these systems simply use hyped copy and a simulated track record to appeal to naïve or greedy traders - they know the system doesn't work, so they don't bother trading it - they simply make up a track record.
Despite the hype, forex scalping doesn't work and you need to trade the odds to win and that simply is not possible in short time frames.
There are two ways to make money in forex trading, you can either swing trade which takes advantage of trends that last for a few days to a few weeks, or long term trend follow which takes advantage of moves that last for weeks or months.
If you want to enjoy currency trading success, you need to trade the odds - to do this you must have valid data and data within a day or less is not valid.
Forex trading is not easy and you wouldn't expect it to be with the rewards on offer but if you learn forex trading the right way and spend some time on your forex education, you can make big profits and for the effort you put in no other business offers you more in terms of rewards.
So forget forex scalping systems and look to trade the odds, using valid data and this will lead you to currency trading success.
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Trade, Compete, and Win - Begins the 1st of Every Month!

ForexGen has the pleasure to announce the launching of its first monthly Live Accounts contest,
This is NOT a demo contest
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ForexGen | a Simple Route to Forex Profits

If you want to get started in currency trading, currency swing trading is ideal. Here is a simple, easy to understand swing trading system to help you trade currencies for profit.

Swing trading is based on sound logic, unlike forex scalping or day trading which is the route a huge amount of traders go and lose.

Forex day trading and scalping doesn't work, because volatility in short term time frames is random, so you can never get the odds on your side.

Currency swing trading though involves using valid data of around 2 - 7 days which is valid and is based on the following logic.

Markets move to the following equation.

Fundamentals + Trader Perception of = Price

It's not the facts that are important; it's how traders perceive them that is.

Traders will always push prices to far away from the fundamentals, when greed and fear take hold.

Prices then become overbought and oversold in the short term and by executing trading signals against these overbought and oversold levels, the trader can make a profit, as prices return to more realistic levels which are in line with the fundamentals.

These price spikes are easy to see on a forex chart.

The trader can use the following method to take advantage of opportunities.

1. Look for a price spike
You are looking for price spikes, that make the market overbought or oversold in the short term and look for a level you think will hold.

2. Use Momentum Oscillators

These will show you when short term prices are overbought or oversold.

We have discussed them fully in our other articles. Some excellent ones to use are - the stochastic, RSI, ADX AND MACD.

These are visual indicators and you don't need to know the calculation, just look at the visual set up.

When currencies become over bought or oversold, you look for a price change in the opposite direction, supported by momentum changing in the direction you wish to trade.

3. Stop and Target

When you get the chance to execute your trading signal, put your stop behind the area of support or resistance you are trading into.

You then need to look to take your profit early if the price moves your way and do it, just before it reaches an important level in the other direction.

You should always take your profit early, before other traders do, as this keeps the odds in your favour.

The above is simple to do and can make big profits.

Currency swing trading is ideal for novices, as it's easy to understand, you get plenty of action and of course, it can be very profitable.

ForexGen Trading

The Foreign Exchange currency market is known as FX. It is the simultaneous buying of one currency and selling another, currencies are traded and exchanged in pairs. Traders are all unified on one goal, making profit. Profits are produced when the prices move in the trader direction.

In the past, Forex markets were accessed only by larger financial institutes, investment banks, large multinational companies, global money managers, international currency dealers, and liquidity providers. Lately, online trading is offering trading platforms for each individual who wants to trade currencies in order to gain profit.