Forex alerts are a handy way of staying on top of the market

Because currency exchange covers the entire world and all 24 time zones, forex is a 24-hour-a-day market. This is good in that it results in billions upon billions of dollars of transactions per day. But it also means that forex traders have a constant influx of information to keep track of, unlike the stock market, where once trading closes at 5 p.m., that’s it. So how do forex traders stay on top of things? Most of them use forex alerts of some kind.

Forex alerts are available from many online forex brokers and other companies. A forex alert is simply a message sent to the user informing him of the latest developments in the forex market, often recommending action of some kind. These alerts can be sent via e-mail or cell phone text message.

The idea behind them is that no one can follow all the markets all the time. Even if you limit yourself to just the “majors” -- U.S., Eurozone, Great Britain, Australia, Japan and Switzerland -- that’s still 15 currency pairs to keep an eye on. What’s more, sometimes things are steady for long periods of time, while other periods are marked by great activity.

The sites that offer forex alerts go about it in one of two ways. Some simply send out alerts every 24 hours, offering the latest info on the forex market. Others send alerts only when something crucial happens. These systems use formulas of their own to determine what constitutes “something crucial,” and they may charge a lot more for their more specific alerts. And of course it’s still up to the individual trader to act on or disregard the information send to him in the alerts.

Some brokers include forex alerts as part of their service, while others charge for them. Some are part of a wider alert program that also handles your stocks and bonds. You can tailor the type of alerts you get based on whether you’re a conservative or aggressive trader, and how actively you plan to trade.

Serious traders who use forex alerts swear by them. No system is perfect, of course, and a smart trader will always do a little browsing on his own to make sure his latest alert didn’t miss anything. But alerts are an invaluable way for busy investors to go about their daily lives without having to constantly watch the forex rates.

Do you really need a trading strategy?

Hi, it's been awhile since my last post. It has been a busy couple of months catching up on other areas of life, you know what I mean :) but that doesn't I complete go flat out of the trading business.

Well, back to our topic of discussion today....

Do you need a strategy or strategies trading forex? Well, the answer is both yes and no. That's my answer anyway. "Yes", if you are adept with the strategies and all and
"no", if you're not naturally a technical person and do not have a lifetime to spend on polishing up those skills. So, for me the obvious answer is really "no".

If I were to apply strategies to my trading, it would be too much trouble for too little profit unless I'm trading in the lots per trade, which I'm not (not yet, anyway). Even then, I'd rather have my forex robot take my place and let it trade on autopilot or take the buying or selling cues from the signals I receive.

In any case, when you enter a trade there are only about two possibilities - its either a gain or a loss, so you've got a 50 - 50 chance. Now, just by looking at the day's price in your Metatrader4 platform before entering trade, you can increase that chance to 60 - 40 or even more in your favour. The trick of the trade is in exiting when it's still in the money and holding your position when it's not. Do that a few times every hour or so and you're on your way to making a 2 - 5% return everyday very possible.

Try this, it works most of the time.

Forex ForREAL

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Self-traded vs Managed vs Automated Trading

If you have been "around" over the last couple of years you will know that there's been a frenzy over "investment" schemes and scams alike!

Some of these schemes or scams appear in the guise of new multi-level companies selling sugar-coated gold-layered schemes and concepts that promise potentially astronomical returns with virtually no work done by the "investor" and even more out-of-this-world, never-before-seen income potentials. These scammers typically do not last more than a year and a half or just quite long enough for most investors to recover their investments for that is not their intention at all.

Others are disguised as Forex consultancy firms and introducing brokers offering forex account management services and charge a "commission" for every trade they execute on your behalf! Usually you will need to open a live trading account from USD10,000 upwards with a specific Forex dealer who in turns deduct the introducing broker's commission from your account with every trade! They usually promise a 20-50% monthly return on investment depending the size of your investment. The bigger the size of your trading account or investment naturally the bigger the size of your ROI, or so they promise. Of course, once your money is in your live account the profitability of your account depends on the outcome of each trade entered into while for the brokers who manage your account makes a commission on every trade entered into regardless.

Well, enough about scams and what not and managed accounts for now. Lets talk about the advantages and disadvantages of self-traded accounts versus automated trading accounts or trading with FX robots/expert advisors.

When you self-trade you have more control over the amount of investment and risk you would want to subject yourself to in each trade. The only problem is that depends a whole lot on your level of experience as well as your level of success thus far in trading. And even then, there is no guarantee that you would be able to do just that all of the time. The trick then is to be able to do it most of the time.

And perhaps the answer to that would be to engage a forex robot for automated trading. The risks are definitely very real, letting a robot manage your funds online while sleep, eat, work and go about your daily life. However, with calculated risks and informed choices, you can make the best of the right forex robots by putting to risk a limited amount of funds in your forex account and let the robots go to work. After, all depending on what your appetite level is, a limited amount of money is all you need to get started on a forex account at various levels - mini, micro and standard lots.

If you are willing to risk USD5000 for example, you may choose to have 5 different accounts of USD1000 each using different robots trading at mini lots. Everytime you se your money doubling, or tripling, make a withdrawal so that your initial capital is back in your pockets. This way you get to test the reliability of different robots and/or their settings, if any as well as limit your financial risks while opening a whole new world of possibilities in terms of your investment returns.

This is definitely a better route to take than going through the frustrations of playing on your own with limited resources experiencing an emotional rollercoaster everytime the market moves. Don't you agree?

Why Forex? Why not Stocks, Real Estate or just plain old any Business?

The largest traded market in the world is not the Dow Jones, Nikkei or the London Stock Exchange. It's in fact the Forex market and it's bigger than all of the world's stock markets combined, many times over. Over 2 trillion dollars, and that's USD2,000,000,000,000.00 just in case any of us are in doubt as to the magnitude of this market, change hands everyday in this largest, most liquid, crodd-border market! So make sure you get a piece of the pie, yeah?

Unparalelled Liquidity
Forex offers you unparalelled liquidity not available anywhere else in the world! It is estimated that more than $3.2 trillion worth of trades exchange hands everyday. It is the only true 24-hour round the clock market as it stays open anytime of the day or night or any time in between. Trades are conducted just about every minute of the day from early Mondays through late Fridays!

The stock market, by comparison, is only open 8:00am through 5:00pm every Monday through Friday and so do most businesses. Without a central market, real estate faces an additional challenge of meeting willing buyer and willing seller.

Uncomparable Leverage
The Forex market allows for uncomparable leverage ranging from a low of 100:1 or 1%to as high as 400:1 or just 0.25% thus enabling traders to effect trades worth upto $400,000 with a capital investment of just $1,000! So doubling your capital with a single trade is indeed very possible. (A word of warning! Higher leverage could also lead to higher risk if not well-managed)

In the stock market, you usually need to pay up your trades' worth within the next 3 + 3 days unless you are able to sell off your stocks or unless you are prepared to incur losses when prices head south. In Real Estate, at least, you'd be able to secure a deal with a downpayment of 10% or more PROVIDED you can get a bank to finance the rest of your purchase. In business, this get less rosy as your investments are not entirely capital where operational costs can eat into your investments sooner than you can carve out a profit!

Commission-free
In Forex, you can be assured to almost never be charged any commission or fee on trades you make. There are brokerages that charge a commission with every trade but that is far from being the norm. In any case, you can always choose to ignore them and stick with those that are commission-free. Your only cost is the paper-thin bid and ask spread.

You typically pay your stock brokers 2.5% for every trade you enter into or exit. Your Real Estate agent gets paid 2% for concluding a deal. If you have invested in trust funds then you would know that there is a roughly 5% spread which you incur when you enter into or exit a trade. By comparison, the Bid/Ask spread in Forex is often negligible as in the case of GBP/USD at 1.4424/1.4428 which is only 0.03% both ways.

Low Risk, Low Entry Requirement

You can open a live trading account from as low as USD250 and get straight down into business. Now try to top that in any other business or investments! I know many of us have heard of people investing in foreclosures with no money down but even then you've got to be prepared to fork out a handsome sum in refurbishing the homes. Then, and only then, do you start to find your buyers. Of course, if you're looking to make big money a higher investment is not only necessary but prudent to protect your trades and plan your strategies.

Havng said this, Forex is not without risks and the higher leverage you put on your investment capital obviously the higher the risk you're exposing yourself to. However, your risk is limited by the amount of capital in your live trading account.

Makes Money both ways
In Forex it doesn't matter if a market is going up or goind down as you can opt for either a long or short position. So, you make money both ways.

When you buy a stock you better pray it heads north as any southward movement will translate into losses. Unless you short-sell a stock which, by the way, is illegal. And, I bet you've never heard of anyone who's made money when property prices goes down.

Ready Market
In Forex, you are essentially selling and buying currencies of nations at the same time. And because of this you can rest assured that you will always always have a willing buyer willing seller situation at prevailing market prices, especially if and when you are trading major currencies.

When you trade stocks of a company, it may not be so easy to find a willing buyer or seller at a price that both you and the other party are willing to trade. The same goes for real estate or any given business. Even finding buyers for products may prove quite a challenge during a down economy.

Forex forREAL