Forex Blog

Asian FX traders connect to discuss strategies, common mistakes and broker reviews. It's a fine message board that is very popular in South East Asia, not just in Singapore. Some commercial FX gurus advertise their services and seminars together with other education for making pis for Euro, Yen and Dollar.

Huskins is a Canadian Forex trader offering managed FX accounts on various levels. He also provides signals. His blog is dedicated to the aftermath of his trade plans and he describes the price action during some news and highrisk events such as Central Bank interest rate decisions and economic indicator news releases from various countries.

An alternative way to play Forex is by investing into ETFs - so called Exchange Traded Funds. An ETF is usually a stock based fund, but the Market is developing fast and companies like Proshares provide ETFs as proxies for commodities, precious metals and currencies. One of the most commonly traded ETFs is ULE a double leveraged fund who increases in value when the Euro gains. There are various other Forex ETFs available providing positive or inverse performance gains. The advantage is the lower leverage resulting in smaller risk. Unfortunately, those FX ETF tools can only be traded on the New York Stock Exchange with limited trading hours. Some of the fund allow participation in interest gains. My favorite fund is the Pro Shares Ultra Silver ETF AGQ. I like to trade Silver during liquid market hours as the spread is much more attractive than trading XAGUSD on a FX platform. Nice action for daytrading! ETFs can be purchased over most stock brokers including discount brokerage company Sogotrade.

One of the nicest Forex sites I know. It's a FX forum that goes beyond as they provide quality guidance and test results of various brokers and Forex robots. They expose Forex scams and criminals in public - it's amazing to see how much fraud is committed on inexperienced traders. A must read for people who do research on brokers and platforms imho. Members of the free board may gain access to free Forex signals by Sir Pipsalot, a pretty good guy who gives realistic insights into possible market movements on the next days. It's one of my favorite daily reads and I do consider all recommendations very carefully before I trade, naturally. They also provide a calendar of important news events that could potentially influence currency exchange rates short term.

Let me introduce you to Baby Pips, a fine website dedicated to Forex Currency Trading. It is one of the best websites I know as it describes some of the most important aspects of online trading with very simple words. It's very easy to understand the basics of FX once you read their descriptive articles of Forex School. Very simple and precise introduction to char patterns and various indicators like Fibonacci lines, pivot points, moving averages, Elliott Wave theory and Bollinger Bands to mention just a few grades of their Forex classes. Read one by one to understand the concept of the trade. It won't make a million bucks instantly, but it will teach you the laws of FX gravity.

Hehehe, guys, the world is so cruel. I was making pips constantly over the past 4 months, but two weeks ago the world stopped spinning! Ever since I blew up my Forex investment account. I reloaded more cash and lost almost all of it in addition to my previous gains. I will need to take a creative break from Forex trading and return with a different approach. I have been in this situation a few times before and it bothers me a lot that I brought myself into this shit hole again. I hope I did finally learn my lesson and will be back stronger once I get going again. I read a lot of traders have come to a similar point before so I am not discouraged as much as I should (if I would ask my mother LOL).

Finally, I am starting to make profits again. For the past 3 months I enjoyed good profits on a daily basis, mostly trading EURUSD and EURJPY. Market sentiment has changed and the Euro is no longer coupled to the gains of the exchanges, but range bound with a downward bias. I am also discovering opportunities with GBPJPY. This currency pair is very volatile, but trades within reasonable technical parameters. I hope to be posting more details on my Forex blog soon. I simply haven't had the time to take care of it, but hope to post more often or even daily starting in May 2009 to explain my strategies and Forex trading plans.

I can just assume that my first contact with Forex is similar to many others. I stumbled upon a website with a Forex ad. It promised big profits. First I thought, that can't be as I did know nothing about leverage. I thought you exchange funds from one foreign currency account to another and make 10 to 20% of profit over the course of various years, but little did I know. Finally, I decided to find out about Forex trading and opened a demo account with Saxo Bank. The demo account was loaded with 75k US$ and the game with currencies and spot gold opened my eyes. You could take 1000 Dollars and have the power to trade 100,000 $ worth of a currency cross. I played around and was impressed. I was like a kid in the candy store. I opened a coupe of trades and made nice 5 digit numbers, on other trades I lost. However, I did not pay to much attention to the losses. The gains were thumbing my sight. It is possible to make great gains if you end up on the right side of the market. Of course it's not that easy to figure out where the market is going, but as long as you play with fake money you can be sure that the market will float up and down a bit and hit your profit stop sooner or later. All you need is patience, a good risk management and a stable market. But what happens if the market is not stable? Pretty easy answer: you may lose all the money in your account within a very short time. Gone. History. And that's what happened to me with a couple of demo accounts and real money. However, I never gave up and came back to learn more and more about Forex online trading and today I am able to make a living as a Forex day trader. I don't have a strategy to sell as so many other traders and I don't endorse any particular strategies or FX systems. I just want to use this blog to write about my personal Forex experiences and hope it will help other traders as well as myself to remind me about old mistakes so I don't forget about them to soon. I got a lot of information and advice from various Forex blogs and message boards and I am very thankful for it. Maybe my little Forex blog will help others to find valuable resources or alternative trading platforms. This would make me happy :-)