Currency Traders

Forex, the largest financial market of the world can fetch you money. And it is possible only when you are pretty sure about your success in trading and know how to counter the odds of currency trading in adverse circumstances. A successful trader of currency trading needs to be awakened and alert about his proceedings and decisions. A little endeavor is made below to find out a few essential traits tagged with a successful trader of currency market.

Well, confidence comes at first. And it derives from learning. If you are new to currency market, make no move until you are confident about the aptness of your trading agreement. Go for some tutorials instead. If possible ask around; preferably the experts having years of expertise in currency trading. You can consider the courses and tutorials on currency trading which are usually designed by professionals. These courses are also available online. It means getting an expert for your currency trading is never a tedious task. No matter whether you are in pajamas or suits, a single click can do it all at the comfort of your own home.

A tutorial or course in currency trading will teach you the market basics, policies, trade secrets, how to opening and managing trade account, increasing profits and many more. These inputs and particulars will surely help you to get confident. Confidence is good but sometimes over confidence may lead you to loss. The mantra of successful forex trading says a trader should be rational not emotional. He should be confident but not above the heads.

Now how a trader could counter the odds of currency trading in adverse circumstances? Well, the answer lies in his experience. The more he trade in the currency market, more he will be able to gain the experience. On the course of getting the experience, he learns about the currencies, economies, trading in pairs, technical and fundamental analysis of currency trading and many more. All these contribute to his development as a perfect trader of currency market.

The forex market is volatile. Along with advantages, the market has certain calculated risks also. Being an awakened trader of currency market, you should have a nose for news regarding everything latest in currency trading. You should able to calculate the risks and counter them with a confident stroke of trading.

Summary: A successful trader of currency trading needs to be awakened and alert about his proceedings and decisions. Being an awakened trader of currency market, you should have a nose for news regarding everything latest in currency trading.

source:http://samples.blogforyou.com/blogs/samples/2007/10/01/currency-trading-in-forex/

Lets Prepare for The Competition

To all Profitable Traders Members

Date: From Monday to Friday only.
Time: 2.00 pm to 6.00 pm and 8.00 pm to 12.00midnight.
Address: 110-1, 1st floor, Jalan Puteri 5/1, Bandar Puteri, Puchong.

Subject:
1. For beginner - The basic forex technical chart analysis.
a. The Candlestick.
b. The Trendline.
c. The Pivot Point.
d. The indicators.

2.For intermediate - Technical chart analysis and Fundamental
analysis.
a. EMA Trading strategy.
b. RSI Trading strategy.
c. Stochastic Oscillators Trading strategy.
d. Parabolic SAR Trading strategy.
e. Pivot point Trading strategy.
f. Fibonacci Trading Strategy.

3.For taking part the FXcast FX competition course.
How to turn your USD 250 to be one of the Winner and take away the USD
5000.00.

All course will charge as below:
For beginner only MYR 70.00(as what other workshop charge > MYR
500.00.
For intermediate - MYR 150.00(as what other workshop charge > MYR
1000.00.
For FX competition - MYR 100.00(50% discount for those who have open
Live Trading account).
100% money back guarantee if you think is not worth it.

What is "Get-Rich-Quick" scheme?

"Get-Rich-Quick" scheme?

A plan which offers high or unrealistic rates of return for a small investment while at the same time promising that such investment is easy and risk -free.

The following "Get-Rich-Quick" schemes are prohibited under the
legislation administered by Bank Negara Malaysia :

Illegal Deposit Taking Activities

Illegal deposit taking is an act of receiving, taking or accepting of deposits (moneys, precious metal, precious stone, any other article etc.) from members of the public that promises a repayment with interest or returns in money or money's worth without a valid license under the Banking and Financial Institutions Act 1989 (BAFIA).

Illegal Foreign Currency Dealings

The following acts tantamount to illegal foreign currency dealings:

- Buying or selling of foreign currency by a person who is not an authorized dealer unless such person has obtained the permission of the Controller of Foreign Exchange under the Exchange Control Act 1953 (ECA).

- Buying or selling of foreign currency by a resident who is not an authorised dealer, with a person outside Malaysia except if the resident has obtained the permission of the Controller of Foreign Exchange under the ECA. CAUTION: Internet Investment Schemes

- Members of the public are cautioned to be on guard against some investment schemes promoted on the internet as these schemes are not licensed or authorized by Bank Negara Malaysia to accept deposits or deal in foreign currency. Such schemes often come in the guise of
attractive investment returns or opportunities involving unrealistic rates of returns with zero to low risk.

- Investors are reminded that they should only place deposits with institutions licensed or deal in foreign currency with institutions authorised by the Bank. Unlicensed operators may cease operating their business resulting in the investors with no means to recover their investments or seek redress against the persons connected with the scheme.

How To Spot The Scams?

Illegal deposit taking scam

o The person (an individual, a company or an organisation) receives, takes or accepts deposits from members of the public and is not licensed under section 6(4) of the BAFIA;
o The person promises to repay the deposit, with or without interest or returns, over a period of time in the form of money or money's worth, etc.; and
o The person promises to repay the initial deposit upon demand or at a time or in circumstances agreed by or on behalf of the person making the payment and the person receiving it, with any consideration in money or money's worth (the repayment of initial
deposit is sometimes included in the fixed interest or returns promised).

Warning Signs for Investors

· Illegal deposit taking activities have been disguised and camouflaged in various forms to deceive the public to fall victim to the investment scams, by giving valuable goods as part of the promised returns and camouflaging the deposits as loans to the company;

· Illegal deposit taking activities appear to be able to provide high or unrealistic rates of interest or return over a short period of time as compared to licensed institutions. However, these schemes will not last long;

· The survival of this scheme is dependent upon the recruitment of new depositors, i.e., new funds obtained will be used in paying dividends to the existing depositors. Therefore , the scheme will fail when there is no contribution of funds from new depositors; and

· Initially the depositors may be paid their promised returns. However, the operator would eventually abscond with the moneys collected when he feels that the scheme is about to fail, thus leaving the depositors at the losing end. Illegal foreign currency scam

Foreign currency dealings with a person, other than an authorized
dealer, who has not obtained the permission of the Controller of
Foreign Exchange under the ECA, often:

o Offer investors or members of the public the opportunity to deal in foreign currencies with a principal company (purported to have a valid licence to trade foreign currencies overseas);
o Facilitate the trading of foreign currencies by providing access to the principal company's website and trading facilities via internet;
o Recruit fresh graduates as marketing executives and allure them to get their family members to invest;
o Instruct the investors to deposit the investment moneys into either the principal company's bank account or a third party bank account; and
o Induce the investors to top up their investment ("margin call") or otherwise risk losing their investment.

Warning Signs For Investors

Illegal operators of foreign currency scams will try to entice potential investors with a marketing strategy which promises quick and high returns

· By projecting a professional and reputable image with smart-looking employees, a high-tech office layout and advanced IT facilities where investors are induced to operate their accounts via the internet;
· With tools of the trade, e.g., a news screen showing movements in exchange rates, to give the impression that a professional and legitimate business is being conducted; and
· A business contract is usually entered into between the investors and the company. Such contracts are usually left unsigned by the company. This means no action can be taken by the investors against the company as there is no binding written contract.

How To Protect Yourself From The Scams?

+ Remember the golden rule - if it sounds too good to be true, it's probably a lie;
+ Deal only with licensed financial institutions and authorized dealers;
+ Check with the relevant authority before investing;
+ Don't be pressured or rushed to invest;
+ Be extra careful with investments over the internet;
+ Be skeptical of any investment opportunity that is not in writing; and
+ In case an investment has been made, keep copies of all the investment and communications.

What Should You Do If You Are a Victim of such Scams?

If you have any information pertaining to illegal deposit taking activities or illegal foreign currency dealings or are a victim of such activities or scams you can send details of such information or complaint together with the documents to Bank Negara Malaysia as
follows:

Address:
Unit Penyiasatan Khas
Bank Negara Malaysia
Jalan Dato' Onn
50480 Kuala Lumpur
Fax: 03-26987467
E-mail: upkinfo@bnm.gov.my

We can also be contacted at the following telephone numbers:

Tel.: 03-2691 5090 / 2698 4163 / 2691 0824 / 2692 6482 / 2694 2143

Trading competition

Super Trading Competition

An extraordinary opportunity for you! FXcast will pay 5 000 USD cash for the winner of the Super Trading competition circuit!!!
The biggest profit will be the winner.

What should you do?
Trading of course – and follow these guidelines:
Basics:
• Only Passport or Identity Card or Driver’s license needed as identification.
• Money can be sent with any of our payment options including bank wire.
• Trading starts on 1st of November at 0:00 GMT.
• Trading ends on 30th of November at 23:59 GMT.
• All open positions will be closed then to get the final Equity.
• The price will be paid to the winner on his account and booked to his trading account for immediate withdrawal.
• The winner will be published on our website with picture (if agreed), country and city. A start for your trader career?
• All participants which want to withdraw later on must send complete documents as written in our verification area.
• Trades must follow our trading rules, no scalping and no Expert Advisors allowed.

What to do now?
1. Become a customer of FXcast
2. Open a special trading account in your membership area
3. Transfer 250 USD to your competition account (Only USD allowed)
4. Start trading and become the winner
5. The Trader with the highest equity after all open positions have been closed will be our No. 1

Start NOW and do not miss this unique chance with FXcast and apply here: http://fxcast.com/contests.php

Earn from Forex Trading & Networking

is a worldwide operating financial services corporation specializing on supporting currency traders of each status of knowledge and experience with high quality online trading services. With a team of dedicated financial specialists and technical support personnel, FXcast operates globally as a market maker and principal counterparty to retail customers and corporate customers and institutional traders. "Providing currency conversion services" is the main concern of FXcast. FXcast has established itself as an industry leader by offering unique trading software which is highly secured and reliable. The range and capabilities of FXcast software fits to everyone's needs and can be operated manually or fully automatic with auto-trade capabilities.

mission is to provide the opportunity for individuals and corporate customers around the world to trade currency markets under the most favourable conditions, such as enjoyed by financial institutes, banks, or brokerage companies. FXcast also offers customers to create and use automated trading systems and strategies to experiment with strategies, improve their trading skills and get acquainted with the system before buying and selling on a live market.

Introducing Brokers Program allows you to refer customers and earn from every trade executed by your referred customers or by customers of SUB-IB Levels referred by you. You can earn up to 1 pip (e.g. standard lot on EUR/USD is 100K, 1pip = $10) on every trade executed by referred customers. You can refer customers through your website or send them a promotion code per e-mail. Some customers execute 10 - 20 Lots with one trade, others make 15 -30 trades a day what is giving you possibilities to earn thousands each month by simply referring customers to FXcast. If you refer other IBs you will get rebates from each trade of their customers too. The more customers and IBs you bring the more commission per trade will be paid to you.

There are 4 levels of IBs:

1. Master IB Level - The highest level for an IB.
   Rebates: 1 pip per traded lot for all customers introduced by yourself or 0.25 pip per traded lot from every customer introduced by any underlying IB, SUB IB, promotion partner;
2. IB Level - The Standard level for an IB.
   Rebates: 0.75 pip per traded lot for all customers introduced by yourself or 0.25 pip per traded lot from any customer introduced by any underlying SUB IB, promotion partner;
3. SUB-IB Level - The second level for an IB.
   Rebates: 0.50 pip per traded lot for all customers introduced by yourself or 0.25 pip per traded lot from any customer introduced by any underlying promotion partner;
4. Promotion Partner Level - Entry level to the IB Program.
   Rebates: 0.10 pip per traded lot from any customer.

It is easy to apply for FXCast IB Program, all you need to do is register as FXCast member (membership is free), open a live trading account (trade for atleast 3 - 5 days) and you could submit your application as IB online.

For more info on FXCast or its IB Program, go to http://fxcast. com/?pr=20179.

Basic Forex Seminar

The seminar is about the basic forex trading and MT 4 Trading Platform's guideline as below:

1. How to use MT 4 - pending order, instant order, limit order, trailing stop. Also include the MT 4 editors, Template, indicators.
2. The basic knowledge of Candlestick chart pattern.
3. The Basic of Trendline Resistance and support.
4. The Basic of Pivot Point application.
5. The basic of Fibonacci theory.
6. The basic of MA, RSI, Stochastic, MACD, Bolinger Band, Momentum, Volume and others.

(approx. 3-4 hours Seminars.)
Speakers: JamesForex
Location : Kuala Lumpur.
Date and time: 20 October 2007 (Saturday).
Seminar Capacity: 50 peoples (Limited Seats)
Fees: MYR 150.00 (Cheapest In Town).
This seminar is STRICTLY for Profitable Traders members and friends only.
100% MoneyBack Guarantee
Interested ??? - Hurry, Booked Your Seat Now!!! email: profitabletraders@yahoo.com
before HariRaya

Legal Disclaimer and risk disclosure.

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubt

Trading Using Moving average convergence divergence (MACD)

Moving average convergence divergence (MACD), invented in 1979 by Gerald Appel, is one of the most popular technical indicators in trading. MACD is appreciated by traders the world over for its simplicity and flexibility because it can be used either as a trend or momentum indicator.

Trading divergence is a popular way to use MACD histogram (which we explain below), but, unfortunately, the divergence trade is not very accurate - it fails more than it succeeds. To explore what may be a more logical method of trading MACD divergence, we look at using the MACD histogram for both trade-entry and trade-exit signals (instead of only entry), and how currency traders are uniquely positioned to take advantage of such a strategy.

MACD: An Overview
The concept behind MACD is fairly straightforward. Essentially it calculates the difference between an instrument's 26-day and 12-day exponential moving average (EMA). Of the two moving averages that make up MACD, the 12-day EMA is obviously the faster and the 26-day is the slower. In the calculation of their value, both moving averages use the closing prices of whatever period is measured. On the MACD chart, a 9-day EMA of MACD itself is plotted as well, and it acts as a trigger for buy and sell decisions. MACD generates a bullish signal when it moves above its own 9-day EMA, and it sends a sell sign when it moves below its 9-day EMA.

The MACD histogram is an elegant visual representation of the difference between MACD and its 9-day EMA. The histogram is positive when MACD is above its 9-day EMA and negative when MACD is below its 9-day EMA. If prices are rising, the histogram grows larger as the speed of the price movement accelerates and contracts as price movement decelerates. The same principle works in reverse as prices are falling. See Figure 1 for a good example of a MACD histogram in action.

Figure 1 - The above is an example of MACD histogram. Note that as price action (top part of the screen) accelerates to the downside, the MACD histogram (in the lower part of the screen) makes new lows and vice versa as prices turn.

As it responds to the speed of price movement, the MACD histogram is the main reason why so many traders rely on this indicator to measure momentum. Indeed, most traders use the MACD indicator more frequently to gauge the strength of the price move than to determine the direction of a trend.

Trading Divergence
As we mentioned earlier, trading divergence is a classic way in which the MACD histogram is used. One of the most common set-ups is to find chart points at which price makes a new swing high or a new swing low but the MACD histogram does not, indicating a divergence between price and momentum. Figure 2 illustrates a typical divergence trade.

Figure 2 - Here is a typical (negative) divergence trade using a MACD histogram. At the right-hand circle on the price chart, the price movements make a new swing high, but at the corresponding circled point on the MACD histogram, the MACD histogram is unable to exceed its previous high of 0.3307. (The histogram reached this high at the point indicated by the lower left-hand circle.) The divergence is a signal that the price is about to reverse at the new high, and as such, it is a signal for the trader to enter into a short position.

Unfortunately, the divergence trade is not very accurate - it fails more times than it succeeds. Prices frequently have several final bursts up or down that trigger stops and force traders out of position just before the move actually makes a sustained turn and the trade becomes profitable. Figure 3 demonstrates a typical divergence fakeout, which has frustrated scores of traders over the years.

Figure 3 - A typical divergence fakeout. Strong divergence is illustrated by the right circle (at the bottom of the chart) by the vertical line, but traders who set their stops at swing highs would have been taken out of the trade before it turned in their direction.

One of the reasons that traders often lose with this set up is they enter a trade on a signal from the MACD indicator but exit it based on the move in price. Since the MACD histogram is a derivative of price and is not price itself, this approach is in effect the trading version of mixing apples and oranges.

Using the MACD Histogram for Both Entry and Exit
To resolve the inconsistency between entry and exit, a trader can use the MACD histogram for both trade-entry and trade-exit signals. To do so, the trader trading the negative divergence takes a partial short position at the initial point of divergence, but instead of setting the stop at the nearest swing high based on price, s/he instead stops out the trade only if the high of the MACD histogram exceeds its previous swing high, indicating that momentum is actually accelerating and the trader is truly wrong on the trade. If, on the other hand, the MACD histogram does not generate a new swing high, the trader then adds to his or her initial position, continually achieving a higher average price for his or her short.




Currency traders are uniquely positioned to take advantage of this strategy because with this strategy, the larger the position, the larger potential gains once the price reverses - and in FX, you can implement this strategy with any size of position and not have to worry about influencing price. (Traders can execute transactions as large as 100,000 units or as little as 1,000 units for the same typical spread of three to five points in the major pairs.)

In effect, this strategy requires the trader to average up as prices temporarily move against him or her. This, however, is typically not considered a good strategy. Many trading books have derisively dubbed such a technique as "adding to your losers". However, in this case the trader has a logical reason for doing so - the MACD histogram has shown divergence, which indicates that momentum is waning and price may soon turn. In effect, the trader is trying to call the bluff between the seeming strength of immediate price action and MACD readings that hint at weakness ahead. Still, a well-prepared trader using the advantages of fixed costs in FX, by properly averaging up the trade, can withstand the temporary drawdowns until price turns in his or her favor. Figure 4 illustrates this strategy in action.

Figure 4 - The chart indicates where price makes successive highs but the MACD histogram does not - foreshadowing the decline that eventually comes. By averaging up his or her short, the trader eventually earns a handsome profit as we see the price making a sustained reversal after the final point of divergence.

Conclusion
Like life, trading is rarely black and white. Some rules that traders agree on blindly, such as never adding to a loser, can be successfully broken to achieve extraordinary profits. However, a logical, methodical approach for violating these important money management rules needs to be established before attempting to capture gains. In the case of the MACD histogram, trading the indicator instead of the price offers a new way to trade an old idea - divergence. Applying this method to the FX market, which allows effortless scaling up of positions, makes this idea even more intriguing to day traders and position traders alike.

By Boris Schlossberg, Senior Currency Strategist, FXCM
Access Boris' Exclusive FREE Report The 5 Things That Move The Market