Trading foreign exchange is exciting and potentially very profitable, but there are also significant risk factors. It is crucially important that you fully understand the implications of margin trading and the particular pitfalls and opportunities that foreign exchange trading offers. On these pages, we offer you a brief introduction to the Forex markets as well as their participants and some strategies that you can apply. However, if you are ever in doubt about any aspect of a trade, you can always discuss the matter in-depth with one of our dealers. They are available 24 hours a day on the Saxo Bank online trading system, SaxoTrader.
The benchmark of its service is efficient execution, concise analysis and expertise – all achieved whilst maintaining an attractive and competitive cost structure. Today, Saxo Bank offers one of Europe's premier all-round services for trading in derivative products and foreign exchange. We count amongst our employees numerous dealers and analysts, each of whom has many years experience and a wide and varied knowledge of the markets – gained both in our home countries and in international financial centres. When trading foreign exchange, futures and other derivative products, we offer 24-hour service, extensive daily analysis, individual access to our Research & Analysis department for specific queries, and immediate execution of trades through our international network of banks and brokers. All at a price considerably lower than that which most companies and private investors normally have access to.
The combination of our strong emphasis on customer service, our strategy and trading recommendations, our strategic and individual hedging programmes, along with the availability to our clients of the latest news and information builds a strong case for trading an individual account through Saxo Bank.
Terms of trading are agreed individually depending on the volume of your transactions, but are generally much lower in cost when compared to banks and brokers. Your margin deposit can be cash or government securities, bank guarantees etc. Large corporate or institutional clients may be offered trading facilities on the strength of their balance sheet. The minimum deposit accepted for an individual trading account depends on the account type. Trade confirmations and real-time account overview are built into SaxoTrader, while further account information can be produced in accordance with your specific requirements.
Wednesday, July 8, 2009
How to Trade Forex?
The global foreign exchange market is the biggest market in the world. The 3.2 trillion USD daily turnover dwarfs the combined turnover of all the world's stock and bond markets.
There are many reasons for the popularity of foreign exchange trading, but among the most important are the leverage available, the high liquidity 24 hours a day and the very low dealing costs associated with trading.
Of course many commercial organisations participate purely due to the currency exposures created by their import and export activities, but the main part of the turnover is accounted for by financial institutions. Investing in foreign exchange remains predominantly the domain of the big professional players in the market - funds, banks and brokers. Nevertheless, any investor with the necessary knowledge of the market's functions can benefit from the advantages stated above.
In the following article, we would like to introduce you to some of the basic concepts of foreign exchange trading. If you would like any further information, we suggest that you sign up for a FREE Membership on this website, where you will be able to exchange views with other Forex traders and get answers to any questions you might have.
There are many reasons for the popularity of foreign exchange trading, but among the most important are the leverage available, the high liquidity 24 hours a day and the very low dealing costs associated with trading.
Of course many commercial organisations participate purely due to the currency exposures created by their import and export activities, but the main part of the turnover is accounted for by financial institutions. Investing in foreign exchange remains predominantly the domain of the big professional players in the market - funds, banks and brokers. Nevertheless, any investor with the necessary knowledge of the market's functions can benefit from the advantages stated above.
In the following article, we would like to introduce you to some of the basic concepts of foreign exchange trading. If you would like any further information, we suggest that you sign up for a FREE Membership on this website, where you will be able to exchange views with other Forex traders and get answers to any questions you might have.
An overview of the Forex market
The Forex market is a non-stop cash market where currencies of nations are traded, typically via brokers. Foreign currencies are constantly and simultaneously bought and sold across local and global markets and traders' investments increase or decrease in value based upon currency movements. Foreign exchange market conditions can change at any time in response to real-time events.
The main enticements of currency dealing to private investors and attractions for short-term Forex trading are:
24-hour trading, 5 days a week with non-stop access to global Forex dealers.
An enormous liquid market making it easy to trade most currencies.
Volatile markets offering profit opportunities.
Standard instruments for controlling risk exposure.
The ability to profit in rising or falling markets.
Leveraged trading with low margin requirements.
Many options for zero commission trading.
Forex tradingThe investor's goal in Forex trading is to profit from foreign currency movements. Forex trading or currency trading is always done in currency pairs. For example, the exchange rate of EUR/USD on Aug 26th, 2003 was 1.0857. This number is also referred to as a "Forex rate" or just "rate" for short. If the investor had bought 1000 euros on that date, he would have paid 1085.70 U.S. dollars. One year later, the Forex rate was 1.2083, which means that the value of the euro (the numerator of the EUR/USD ratio) increased in relation to the U.S. dollar. The investor could now sell the 1000 euros in order to receive 1208.30 dollars. Therefore, the investor would have USD 122.60 more than what he had started one year earlier. However, to know if the investor made a good investment, one needs to compare this investment option to alternative investments. At the very minimum, the return on investment (ROI) should be compared to the return on a "risk-free" investment. One example of a risk-free investment is long-term U.S. government bonds since there is practically no chance for a default, i.e. the U.S. government going bankrupt or being unable or unwilling to pay its debt obligation.
When trading currencies, trade only when you expect the currency you are buying to increase in value relative to the currency you are selling. If the currency you are buying does increase in value, you must sell back the other currency in order to lock in a profit. An open trade (also called an open position) is a trade in which a trader has bought or sold a particular currency pair and has not yet sold or bought back the equivalent amount to close the position.
However, it is estimated that anywhere from 70%-90% of the FX market is speculative. In other words, the person or institution that bought or sold the currency has no plan to actually take delivery of the currency in the end; rather, they were solely speculating on the movement of that particular currency.
The main enticements of currency dealing to private investors and attractions for short-term Forex trading are:
24-hour trading, 5 days a week with non-stop access to global Forex dealers.
An enormous liquid market making it easy to trade most currencies.
Volatile markets offering profit opportunities.
Standard instruments for controlling risk exposure.
The ability to profit in rising or falling markets.
Leveraged trading with low margin requirements.
Many options for zero commission trading.
Forex tradingThe investor's goal in Forex trading is to profit from foreign currency movements. Forex trading or currency trading is always done in currency pairs. For example, the exchange rate of EUR/USD on Aug 26th, 2003 was 1.0857. This number is also referred to as a "Forex rate" or just "rate" for short. If the investor had bought 1000 euros on that date, he would have paid 1085.70 U.S. dollars. One year later, the Forex rate was 1.2083, which means that the value of the euro (the numerator of the EUR/USD ratio) increased in relation to the U.S. dollar. The investor could now sell the 1000 euros in order to receive 1208.30 dollars. Therefore, the investor would have USD 122.60 more than what he had started one year earlier. However, to know if the investor made a good investment, one needs to compare this investment option to alternative investments. At the very minimum, the return on investment (ROI) should be compared to the return on a "risk-free" investment. One example of a risk-free investment is long-term U.S. government bonds since there is practically no chance for a default, i.e. the U.S. government going bankrupt or being unable or unwilling to pay its debt obligation.
When trading currencies, trade only when you expect the currency you are buying to increase in value relative to the currency you are selling. If the currency you are buying does increase in value, you must sell back the other currency in order to lock in a profit. An open trade (also called an open position) is a trade in which a trader has bought or sold a particular currency pair and has not yet sold or bought back the equivalent amount to close the position.
However, it is estimated that anywhere from 70%-90% of the FX market is speculative. In other words, the person or institution that bought or sold the currency has no plan to actually take delivery of the currency in the end; rather, they were solely speculating on the movement of that particular currency.
Women in Forex and Poker from Chart888.com
Japanese Housewife Online Traders
by Antonia McLaughlin
Currency Markets: A Popular Option for Amateur e-Traders
The Japanese housewife is an iconic and integral part of the Japanese populace. She holds much domestic power, often autonomously, while her husband is working all hours of the day and night. She also holds the purse strings of her husband’s salary which, according to some analysts, is an estimated ¥12.5 trillion in household savings.
The Japanese housewife has recently taken on a whole new level of meaning, and is redefining the very concept of domestic housework in the form of online currency trading. With Japan’s interest rates so low which is discouraging households to save, the freshly lucrative, seemingly straightforward and accessible world of online markets and international currency trading are appearing much more favorable for those interested in making a bit of money on the side.
However, many of these Japanese housewives are doing much more than that. This year there have been scores of reported cases where women have already had large successes on the world currency market, blithely flipping off the Japanese yen in exchange for much higher interest rates from a multitude of currencies ranging from the Turkish lira to the Omani riyal. For a lot of these housewives, and other young single working women, the advent of currency trading online is one that is approached in a mostly fun and lighthearted fashion.
But for many others it is a serious business to the tune of an estimated ¥9.1 billion a day (www.bloggingstocks.com), so much so that back in July even Kiyohiko Nishimura, a board member of Japan’s equivalent of the US Federal Reserve, admitted that Japanese housewife traders were a stabilizing force in the currency markets: this comment made it clear that women were a major player, and were making a significant difference.
So why is it that Japanese housewives are suddenly and so successfully triumphing such gains in a financial world once reserved solely for the slick professional? Foreign currency exchange (FX) trading was trumpeted by one observer as “The new ‘Wild Western Frontier’ of finance,” and it is one of the most fluid markets in the world, largely free of regulations or constraints placed on it by governing factions. It is relatively easy to get into trading online and easy to find a trader to help you with the processes—endless websites offer advice and self–study tutorials with free ‘trial runs.’
One housewife put it succinctly, saying that “from the rise of the information economy women have a distinctive advantage. They are the ones that pay the minutest of attention to the most meager and slight shifts in fashion, the latest hotels and restaurants to go to, popular culture and so on.” It is this natural skill of constant and careful monitoring that she says has helped them work the currency trading market.
Ms Kei has been trading online since 1999
Another such housewife, Ms Kei, got involved in the stock and currency markets in 1999 when online trading was still relatively new. She started off in stocks and then dabbled in currency, trading between the Japanese and US currencies, which, in quite an incestuous way, have the lowest commission required as payment when trading between the two. By Ms Kei’s own admission of “chickening out,” she sold her modest ¥100,000 in US currency after only a few months in 2005 as the US dollar at that time was devaluing. Incidentally, according to Bloomberg, as of November 27 in New York, the yen was at its highest against the US dollar since 2005 at 107.23.
Perhaps the majority of these ‘dabblers’ like Ms Kei are trading lowkey and are not moving huge amounts, but there have been some who have been very successful on the currency markets, fashioning a new breed of celebrity housewife, financially independent and self-determined. One such success case is that of Mayumi Torii, as reported by The New York Times back in September, who after making US$150,000 in online margin currency trading created her own group for her fellow savvy housewife traders in Tokyo, the FX Beauties Club, which at that time had 40 members. She has also made appearances on television, written books giving other housewives advice and has her own blog.
This year alone has seen eight new investment magazines published in Japan that cater specifically to the housewife trader
This kind of courting can only reflect the true influence that these women hold, and what a large percentage they represent in the market of trading. Ms Torii is a success story, but there are countless others who, after taking huge risks in unstable markets, have lost a lot, if not all, of the family savings. According to a recent Times article, one such elderly Japanese housewife, Yoshie Akai from Kobe, apparently lost a staggering ¥8 million overnight in a market plummet. This is particularly true since mid-summer of this year because of the credit crisis caused by the American mortgage turmoil which still continues to affect markets.
At that time the credit fiasco caused alarm in US hedge funds which in turn drove up the Japanese yen, wiping out many Japanese traders overnight. According to Naoki Hirai at Nomura Securities, foreign exchange trading has become something of an exciting new phenomena in Japan through the very unexpected housewife demographic, young urban female professionals and the elderly alike. However, the very volatility of the market acts as a double-edged sword, creating exciting, fast and seemingly easy returns, while necessitating pedantic and constant daytime monitoring of the exchange rates. It can also bring about huge losses for many, as mentioned previously in relation to the US summer credit crash.
This tumultuous year of trading has brought both exuberant highs and dire lows, for housewives and other traders alike, as is the nature of the trading game. And it will be particularly interesting to monitor this new rise of ‘Domestic Goddess Currency Queens’ in a time when the internet has brought for many the means not just of mere entertainment and trivial surfing, but for ingenious and successful enterprise.
by Antonia McLaughlin
Currency Markets: A Popular Option for Amateur e-Traders
The Japanese housewife is an iconic and integral part of the Japanese populace. She holds much domestic power, often autonomously, while her husband is working all hours of the day and night. She also holds the purse strings of her husband’s salary which, according to some analysts, is an estimated ¥12.5 trillion in household savings.
The Japanese housewife has recently taken on a whole new level of meaning, and is redefining the very concept of domestic housework in the form of online currency trading. With Japan’s interest rates so low which is discouraging households to save, the freshly lucrative, seemingly straightforward and accessible world of online markets and international currency trading are appearing much more favorable for those interested in making a bit of money on the side.
However, many of these Japanese housewives are doing much more than that. This year there have been scores of reported cases where women have already had large successes on the world currency market, blithely flipping off the Japanese yen in exchange for much higher interest rates from a multitude of currencies ranging from the Turkish lira to the Omani riyal. For a lot of these housewives, and other young single working women, the advent of currency trading online is one that is approached in a mostly fun and lighthearted fashion.
But for many others it is a serious business to the tune of an estimated ¥9.1 billion a day (www.bloggingstocks.com), so much so that back in July even Kiyohiko Nishimura, a board member of Japan’s equivalent of the US Federal Reserve, admitted that Japanese housewife traders were a stabilizing force in the currency markets: this comment made it clear that women were a major player, and were making a significant difference.
So why is it that Japanese housewives are suddenly and so successfully triumphing such gains in a financial world once reserved solely for the slick professional? Foreign currency exchange (FX) trading was trumpeted by one observer as “The new ‘Wild Western Frontier’ of finance,” and it is one of the most fluid markets in the world, largely free of regulations or constraints placed on it by governing factions. It is relatively easy to get into trading online and easy to find a trader to help you with the processes—endless websites offer advice and self–study tutorials with free ‘trial runs.’
One housewife put it succinctly, saying that “from the rise of the information economy women have a distinctive advantage. They are the ones that pay the minutest of attention to the most meager and slight shifts in fashion, the latest hotels and restaurants to go to, popular culture and so on.” It is this natural skill of constant and careful monitoring that she says has helped them work the currency trading market.
Ms Kei has been trading online since 1999
Another such housewife, Ms Kei, got involved in the stock and currency markets in 1999 when online trading was still relatively new. She started off in stocks and then dabbled in currency, trading between the Japanese and US currencies, which, in quite an incestuous way, have the lowest commission required as payment when trading between the two. By Ms Kei’s own admission of “chickening out,” she sold her modest ¥100,000 in US currency after only a few months in 2005 as the US dollar at that time was devaluing. Incidentally, according to Bloomberg, as of November 27 in New York, the yen was at its highest against the US dollar since 2005 at 107.23.
Perhaps the majority of these ‘dabblers’ like Ms Kei are trading lowkey and are not moving huge amounts, but there have been some who have been very successful on the currency markets, fashioning a new breed of celebrity housewife, financially independent and self-determined. One such success case is that of Mayumi Torii, as reported by The New York Times back in September, who after making US$150,000 in online margin currency trading created her own group for her fellow savvy housewife traders in Tokyo, the FX Beauties Club, which at that time had 40 members. She has also made appearances on television, written books giving other housewives advice and has her own blog.
This year alone has seen eight new investment magazines published in Japan that cater specifically to the housewife trader
This kind of courting can only reflect the true influence that these women hold, and what a large percentage they represent in the market of trading. Ms Torii is a success story, but there are countless others who, after taking huge risks in unstable markets, have lost a lot, if not all, of the family savings. According to a recent Times article, one such elderly Japanese housewife, Yoshie Akai from Kobe, apparently lost a staggering ¥8 million overnight in a market plummet. This is particularly true since mid-summer of this year because of the credit crisis caused by the American mortgage turmoil which still continues to affect markets.
At that time the credit fiasco caused alarm in US hedge funds which in turn drove up the Japanese yen, wiping out many Japanese traders overnight. According to Naoki Hirai at Nomura Securities, foreign exchange trading has become something of an exciting new phenomena in Japan through the very unexpected housewife demographic, young urban female professionals and the elderly alike. However, the very volatility of the market acts as a double-edged sword, creating exciting, fast and seemingly easy returns, while necessitating pedantic and constant daytime monitoring of the exchange rates. It can also bring about huge losses for many, as mentioned previously in relation to the US summer credit crash.
This tumultuous year of trading has brought both exuberant highs and dire lows, for housewives and other traders alike, as is the nature of the trading game. And it will be particularly interesting to monitor this new rise of ‘Domestic Goddess Currency Queens’ in a time when the internet has brought for many the means not just of mere entertainment and trivial surfing, but for ingenious and successful enterprise.
Housewife hid $3 million in forex gains
TOKYO (Reuters) - A financially savvy Tokyo housewife who made 400 million yen ($3.44 million) trading in foreign exchange markets was fined Friday for evading tax, a court official said.
Yukiko Ikebe, 60, got a suspended jail sentence and was fined 34 million yen after she used relatives' names to make her gains look smaller and avoid paying tax, public broadcaster NHK said.
"She felt it was unfair to have to pay tax on her gains, when she made losses some years," NHK quoted the judge as saying. "She spent the money on kimonos and jewelry."
Forex trading has become more popular in recent years in Japan, where low interest rates have led retail investors to seek new sources of profit.
Yukiko Ikebe, 60, got a suspended jail sentence and was fined 34 million yen after she used relatives' names to make her gains look smaller and avoid paying tax, public broadcaster NHK said.
"She felt it was unfair to have to pay tax on her gains, when she made losses some years," NHK quoted the judge as saying. "She spent the money on kimonos and jewelry."
Forex trading has become more popular in recent years in Japan, where low interest rates have led retail investors to seek new sources of profit.
Tokyo housewife hides $3 million in forex gains
AlfredSokol said: "Okay, there really must be a lot of money in forex trading. So much, in fact, that a Tokyo housewife [url=http://www.reuters.com/article/oddlyEnoughNews/idUST26245420070824]hid $3 million in gains[/url] in order to pay less on taxes. [quote] A financially savvy Tokyo housewife who made 400 million yen ($3.44 million) trading in foreign exchange markets was fined Friday for evading tax, a court official said. Yukiko Ikebe, 60, got a suspended jail sentence and was fined 34 million yen after she used relatives' names to make her gains look smaller and avoid paying tax, public broadcaster NHK said. "She felt it was unfair to have to pay tax on her gains, when she made losses some years," NHK quoted the judge as saying. "She spent the money on kimonos and jewelry."[/quote] Hard to argue with that logic. It looks like everyone is getting rich trading forex. Are you?"
Pb3190 said: "That would be a nice profit. Too bad it doesn't say how much her losses were in the other years. I would think stuff like that happens in every country that has taxes. I have looked at Forex a little, but it still confuses me. With stocks I have an idea what to look for, not so in Forex. The idea of a 24 hour market and the leverage requiring very little start up capital is tempting though, I'm sure I'll be looking into it some more in the future."
AlfredSokol said: "I'm really in the same boat as you. I have an academic interest in the subject at this point. It's hard to get excited about forex trading because it occurs all over the world everyday anyways and the volume is huge. That said, I suspect that newbies get eaten alive. So I'm currently in the research/talking/scheming stage."
Pb3190 said: "Have you found any good books or websites for Forex? I think I understand the very basics, but as far as what to look for in a trade, I am still lost. I used a free trial for a few days over the Summer and just tried to trade, but it didn't work out well."
lil dickie said: "This place has a [url=http://www.ac-markets.com/trading-software/advanced-trader.aspx]Free trial account[/url]. I'm not sure what the catch is but that might be an interesting way to get started with a fake $100,000 account."
JAP said: "Do you realize how many people are going to get into the forex market after reading that story? The thought process would go something like this: [I]"If a Tokyo housewife can do it, [B]anybody[/B] can!"[/I] :laugh:"
Heather said: "You're right about that, JAP - I'm sure those same people will end up paying a tuition in the learning process. She said she didn't feel like she should have to pay taxes for the money because the govt didn't reimburse her for all the money she lost. Interesting ways of looking at things!"
Pb3190 said: "If that way of thinking gets into the majority of people, we would really have a problem. JAP- Some of the sites I have looked at try to make forex seem really easy, but in my mind it is far from it. It's zero sum, so when you make money, someone loses money. I would think many new people don't do their research end up losing their accounts."
JAP said: "[quote=Pb3190]If that way of thinking gets into the majority of people, we would really have a problem. JAP- Some of the sites I have looked at try to make forex seem really easy, but in my mind it is far from it. It's zero sum, so when you make money, someone loses money. I would think many new people don't do their research end up losing their accounts.[/quote] I hear what your saying Pb. IMO, if people don't do their research and/or get into something they have no clue about, they deserve to lose their money. Sorry if that sounds harsh, but that's reality."
Pb3190 said: "I agree, but I would think many people will try to invest in stocks/forex without doing any prior research. When/if they go broke, they will expect government aid. Or like this woman, try to hide the losses by not paying taxes when they do make money!"
Heather said: "I really doubt that people will suddenly jump into this. Especially if they aren't willing to learn the ropes. They'd be better off playing scratch off lottery tickets."
Pb3190 said: "With thousands of people addicted to gambling and the lottery, there must be some people investing, or trying to, with no real thought behind it. I do agree though, the very average person won't decide out of the blue to try investing or forex. Some places do try to make everything sound very easy though, making the idea more appealing."
Darren said: "I think the future is pretty rosy for forex trading. This type of story is definitely an ad for it. Like JAP said, if she can do I can do it is an obvious thought."
newinvestor123 said: "[QUOTE=Pb3190]I agree, but I would think many people will try to invest in stocks/forex without doing any prior research. When/if they go broke, they will expect government aid.[/QUOTE] The answer to that: No taxes on capital gains!"
Lukester said: "Recently, there was a housewife (or granny?) in Singapore who took part in a warrants trading competition in Singapore. She beat hundreds of professionals (armed with CFA, MBA etc) to clinch the top prize. She managed to increase her trading account more than the rest of her competitors over a given time frame. Does this story and the one in Japan tell us anything about trading? Do housewives make better traders? Is making money in trading that easy even a housewife can do it? Are we ("non-housewife traders") over complicating our trading strategies - making things harder than it ought to be? Just a thought!"
Rbreb13 said: "[QUOTE=Lukester]Recently, there was a housewife (or granny?) in Singapore who took part in a warrants trading competition in Singapore. She beat hundreds of professionals (armed with CFA, MBA etc) to clinch the top prize. She managed to increase her trading account more than the rest of her competitors over a given time frame. Does this story and the one in Japan tell us anything about trading? Do housewives make better traders? Is making money in trading that easy even a housewife can do it? Are we ("non-housewife traders") over complicating our trading strategies - making things harder than it ought to be? Just a thought![/QUOTE]The winner of the CNBC Million Dollar Portfolio Challenge was a waitress that had never bought or traded a stock in her life."
Pb3190 said: "I think in that CNBC challege though, thousands of people picked random, high risk stocks in the hope they would rocket during the time period. As seen by the results, it can work. What they don't show are the many people who lost, and in real life would have blown out their accounts."
AlfredSokol said: "One problem when making comparisons is taking an anomaly case and assuming it would be the norm. But that's what happens when people go to casinos when they heard someone get rich! Imitation really is the sincerest form of flattery."
Pb3190 said: "Kind of like your casino theory, I won an Ipod at an amusement park game last year. After I won, the line doubled, full of people thinking they had a good chance at winning one as well."
Pb3190 said: "That would be a nice profit. Too bad it doesn't say how much her losses were in the other years. I would think stuff like that happens in every country that has taxes. I have looked at Forex a little, but it still confuses me. With stocks I have an idea what to look for, not so in Forex. The idea of a 24 hour market and the leverage requiring very little start up capital is tempting though, I'm sure I'll be looking into it some more in the future."
AlfredSokol said: "I'm really in the same boat as you. I have an academic interest in the subject at this point. It's hard to get excited about forex trading because it occurs all over the world everyday anyways and the volume is huge. That said, I suspect that newbies get eaten alive. So I'm currently in the research/talking/scheming stage."
Pb3190 said: "Have you found any good books or websites for Forex? I think I understand the very basics, but as far as what to look for in a trade, I am still lost. I used a free trial for a few days over the Summer and just tried to trade, but it didn't work out well."
lil dickie said: "This place has a [url=http://www.ac-markets.com/trading-software/advanced-trader.aspx]Free trial account[/url]. I'm not sure what the catch is but that might be an interesting way to get started with a fake $100,000 account."
JAP said: "Do you realize how many people are going to get into the forex market after reading that story? The thought process would go something like this: [I]"If a Tokyo housewife can do it, [B]anybody[/B] can!"[/I] :laugh:"
Heather said: "You're right about that, JAP - I'm sure those same people will end up paying a tuition in the learning process. She said she didn't feel like she should have to pay taxes for the money because the govt didn't reimburse her for all the money she lost. Interesting ways of looking at things!"
Pb3190 said: "If that way of thinking gets into the majority of people, we would really have a problem. JAP- Some of the sites I have looked at try to make forex seem really easy, but in my mind it is far from it. It's zero sum, so when you make money, someone loses money. I would think many new people don't do their research end up losing their accounts."
JAP said: "[quote=Pb3190]If that way of thinking gets into the majority of people, we would really have a problem. JAP- Some of the sites I have looked at try to make forex seem really easy, but in my mind it is far from it. It's zero sum, so when you make money, someone loses money. I would think many new people don't do their research end up losing their accounts.[/quote] I hear what your saying Pb. IMO, if people don't do their research and/or get into something they have no clue about, they deserve to lose their money. Sorry if that sounds harsh, but that's reality."
Pb3190 said: "I agree, but I would think many people will try to invest in stocks/forex without doing any prior research. When/if they go broke, they will expect government aid. Or like this woman, try to hide the losses by not paying taxes when they do make money!"
Heather said: "I really doubt that people will suddenly jump into this. Especially if they aren't willing to learn the ropes. They'd be better off playing scratch off lottery tickets."
Pb3190 said: "With thousands of people addicted to gambling and the lottery, there must be some people investing, or trying to, with no real thought behind it. I do agree though, the very average person won't decide out of the blue to try investing or forex. Some places do try to make everything sound very easy though, making the idea more appealing."
Darren said: "I think the future is pretty rosy for forex trading. This type of story is definitely an ad for it. Like JAP said, if she can do I can do it is an obvious thought."
newinvestor123 said: "[QUOTE=Pb3190]I agree, but I would think many people will try to invest in stocks/forex without doing any prior research. When/if they go broke, they will expect government aid.[/QUOTE] The answer to that: No taxes on capital gains!"
Lukester said: "Recently, there was a housewife (or granny?) in Singapore who took part in a warrants trading competition in Singapore. She beat hundreds of professionals (armed with CFA, MBA etc) to clinch the top prize. She managed to increase her trading account more than the rest of her competitors over a given time frame. Does this story and the one in Japan tell us anything about trading? Do housewives make better traders? Is making money in trading that easy even a housewife can do it? Are we ("non-housewife traders") over complicating our trading strategies - making things harder than it ought to be? Just a thought!"
Rbreb13 said: "[QUOTE=Lukester]Recently, there was a housewife (or granny?) in Singapore who took part in a warrants trading competition in Singapore. She beat hundreds of professionals (armed with CFA, MBA etc) to clinch the top prize. She managed to increase her trading account more than the rest of her competitors over a given time frame. Does this story and the one in Japan tell us anything about trading? Do housewives make better traders? Is making money in trading that easy even a housewife can do it? Are we ("non-housewife traders") over complicating our trading strategies - making things harder than it ought to be? Just a thought![/QUOTE]The winner of the CNBC Million Dollar Portfolio Challenge was a waitress that had never bought or traded a stock in her life."
Pb3190 said: "I think in that CNBC challege though, thousands of people picked random, high risk stocks in the hope they would rocket during the time period. As seen by the results, it can work. What they don't show are the many people who lost, and in real life would have blown out their accounts."
AlfredSokol said: "One problem when making comparisons is taking an anomaly case and assuming it would be the norm. But that's what happens when people go to casinos when they heard someone get rich! Imitation really is the sincerest form of flattery."
Pb3190 said: "Kind of like your casino theory, I won an Ipod at an amusement park game last year. After I won, the line doubled, full of people thinking they had a good chance at winning one as well."
Housewives in a Forex Trading Home Business Revolution
The entry of many housewives into the Forex Trading Home Business profession to earn Residual Income increases daily and is underpinned by the many successes scored. This opportunity is helping to reduce unnecessary home tensions and is consequently indirectly assisting in diminishing doctors and pharmacy bills. Housewives who work from home running an internet Fore Trading home business do this to curtail the home budget shortfalls, but beginner beware. You will need to be very sure you know what and where to go. This article is a classic must read for the housewife aspiring to become another successful Internet Forex Trading Home Business Entrepreneur. It emphasizes the importance of being vigilant to stay out of the clutches of the many scammers on the net. Remember hollow barrels make the most noise. Be shrewd and stay away from hype mongers. The whole setting up process will cost you nothing.
The housewives' multiple roll
The subject of managing a successful Forex Traders Internet Home Business with a big Income has many stories, none as relevant as the housewives who are successfully contributing major shares of the home budgets, new cars and home extensions etc. For the housewife seeking to be an internet business entrepreneur this article is a must read to avoid the many hidden pitfalls, the broad outline of which will be examined here. The excessive hype which surrounds this subject is created by those issues which at the death are of nil and no consequence in the creation of a successful Forex Trading internet home business income. The saying that hollow barrels make most noise is very relevant.
Avoid the internet traps
Let us examine the best way to avoid being snared by one or more of these hype mongers. There is however a lesson to be learned even from the hype mongering on the net, which is that they started where we did and have learned to cope with the vagaries of the profession they have chosen by heeding the right advice instead of taking all the over exuberant internet hype.
Some of the frustrations and expensive pitfalls are not always for a lack of knowledge but can sometimes be due to having learned the wrong habits in the profession. Therefore be watchful of your net associations, every broker is on the net to make money, unfortunately many don't care how they achieve this. Money remains the root of all evil. Don't get snared. Read on and learn. There is no greater blindness in this life than not knowing that you don't know. Read that sentence again and let it sink in. It is about the best bit of philosophy you'll hear for many years. If you recognize your lack of knowledge you are wise enough to ask and learn, but if you don't know that you don't know the Forex Trading home business income Gurus will have a chunk of you, and your wallet.
So what are the first steps to Forex Trading,
1. You need a little computer literacy.
2. You need the will to succeed.
3. Join some forums and read and ask questions.
4. Set up a Demo account
5. Join a no cost tutorial site. Babypips is very good
6. Set out your trading plan and stick to it
7. Trade to a definite system and improve it as you go.
8. Read all you can on the net but buy nothing, all you need now is for free.
9. Learn about technical and fundamental analysis. Big words, could make one feel intimidated,make you think that this is a complicated matter. I in fact it is much easier than you think. You do not have to construct the tools, you only have read them and see how they confirm what trade to make. Reading about anything on Forex Trading strategies improves your knowledge. The more you read the better you will understand when to trade.
10. After you have demo traded for a while and you are confident you will have gained the ability to identify any software you might want to buy which will add value to your Forex Trading Home Business.
Ofcourse the above enumerated factors are only to get your feet wet, when the real money begins to show in your account that is when you truly begin to learn. In the mean time, whilst you are learning you should be earning some money because the debts mount up and the money is not enough. Well, follow me and I'll take you right there and show you how. As a home town tutor I understand your requirements, many of my pupils come to me for the reason that you are reading this. They too had financial duress.
• Knowledge is power.
• Power is success
• Success is money
All life's efforts are rewarded
Do it and be rid of tensions and hassles. Open your cage and let yourself out. Many before you have made it, and so can you if you will take my advice and heed the warnings about internet hype and scams.
Follow me and you'll be all right. All housewives and mothers are able to make a good income from a home based Forex Trading business. It is a flexi-time business which allows you to tend the family besides earning a good income.
The housewives' multiple roll
The subject of managing a successful Forex Traders Internet Home Business with a big Income has many stories, none as relevant as the housewives who are successfully contributing major shares of the home budgets, new cars and home extensions etc. For the housewife seeking to be an internet business entrepreneur this article is a must read to avoid the many hidden pitfalls, the broad outline of which will be examined here. The excessive hype which surrounds this subject is created by those issues which at the death are of nil and no consequence in the creation of a successful Forex Trading internet home business income. The saying that hollow barrels make most noise is very relevant.
Avoid the internet traps
Let us examine the best way to avoid being snared by one or more of these hype mongers. There is however a lesson to be learned even from the hype mongering on the net, which is that they started where we did and have learned to cope with the vagaries of the profession they have chosen by heeding the right advice instead of taking all the over exuberant internet hype.
Some of the frustrations and expensive pitfalls are not always for a lack of knowledge but can sometimes be due to having learned the wrong habits in the profession. Therefore be watchful of your net associations, every broker is on the net to make money, unfortunately many don't care how they achieve this. Money remains the root of all evil. Don't get snared. Read on and learn. There is no greater blindness in this life than not knowing that you don't know. Read that sentence again and let it sink in. It is about the best bit of philosophy you'll hear for many years. If you recognize your lack of knowledge you are wise enough to ask and learn, but if you don't know that you don't know the Forex Trading home business income Gurus will have a chunk of you, and your wallet.
So what are the first steps to Forex Trading,
1. You need a little computer literacy.
2. You need the will to succeed.
3. Join some forums and read and ask questions.
4. Set up a Demo account
5. Join a no cost tutorial site. Babypips is very good
6. Set out your trading plan and stick to it
7. Trade to a definite system and improve it as you go.
8. Read all you can on the net but buy nothing, all you need now is for free.
9. Learn about technical and fundamental analysis. Big words, could make one feel intimidated,make you think that this is a complicated matter. I in fact it is much easier than you think. You do not have to construct the tools, you only have read them and see how they confirm what trade to make. Reading about anything on Forex Trading strategies improves your knowledge. The more you read the better you will understand when to trade.
10. After you have demo traded for a while and you are confident you will have gained the ability to identify any software you might want to buy which will add value to your Forex Trading Home Business.
Ofcourse the above enumerated factors are only to get your feet wet, when the real money begins to show in your account that is when you truly begin to learn. In the mean time, whilst you are learning you should be earning some money because the debts mount up and the money is not enough. Well, follow me and I'll take you right there and show you how. As a home town tutor I understand your requirements, many of my pupils come to me for the reason that you are reading this. They too had financial duress.
• Knowledge is power.
• Power is success
• Success is money
All life's efforts are rewarded
Do it and be rid of tensions and hassles. Open your cage and let yourself out. Many before you have made it, and so can you if you will take my advice and heed the warnings about internet hype and scams.
Follow me and you'll be all right. All housewives and mothers are able to make a good income from a home based Forex Trading business. It is a flexi-time business which allows you to tend the family besides earning a good income.
Sunday, July 5, 2009
Housewives in a Forex Trading Home Business Revolution
The entry of many housewives into the Forex Trading Home Business profession to earn
Residual Income increases daily and is underpinned by the many successes scored. This opportunity is helping to reduce unnecessary home tensions and is consequently indirectly assisting in diminishing doctors and pharmacy bills. Housewives who work from home running an internet Fore Trading home business do this to curtail the home budget shortfalls, but beginner beware. You will need to be very sure you know what and where to go. This article is a classic must read for the housewife aspiring to become another successful Internet Forex Trading Home Business Entrepreneur. It emphasizes the importance of being vigilant to
stay out of the clutches of the many scammers on the net. Remember hollow barrels make the most noise. Be shrewd and stay away from hype mongers. The whole setting up process will cost you nothing.
The housewives' multiple roll
The subject of managing a successful Forex Traders Internet Home Business with a big Income has many stories, none as relevant as the housewives who are successfully contributing major shares of the home budgets, new cars and home extensions etc. For the housewife seeking to be an internet business entrepreneur this article is a must read to avoid the many hidden pitfalls, the broad outline of which will be examined here. The excessive hype which surrounds this subject is created by those issues which at the death are of nil and no consequence in the creation of a successful Forex Trading internet home business income.
The saying that hollow barrels make most noise is very relevant.
Avoid the internet traps
Let us examine the best way to avoid being snared by one or more of these hype mongers.
There is however a lesson to be learned even from the hype mongering on the net, which is that they started where we did and have learned to cope with the vagaries of the profession they have chosen by heeding the right advice instead of taking all the over exuberant internet hype.
Some of the frustrations and expensive pitfalls are not always for a lack of knowledge but can sometimes be due to having learned the wrong habits in the profession. Therefore be watchful of your net associations, every broker is on the net to make money, unfortunately many don't care how they achieve this. Money remains the root of all evil. Don't get snared. Read on and learn. There is no greater blindness in this life than not knowing that you don't know. Read that sentence again and let it sink in. It is about the best bit of philosophy you'll hear for many years. If you recognize your lack of knowledge you are wise enough to ask and learn, but if you don't know that you don't know the Forex Trading home business income Gurus will have a chunk of you, and your wallet.
So what are the first steps to Forex Trading,
1. You need a little computer literacy.
2. You need the will to succeed.
3. Join some forums and read and ask questions.
4. Set up a Demo account
5. Join a no cost tutorial site. Babypips is very good
6. Set out your trading plan and stick to it
7. Trade to a definite system and improve it as you go.
8. Read all you can on the net but buy nothing, all you need now is for free.
9. Learn about technical and fundamental analysis. Big words, could make one feel
intimidated,make you think that this is a complicated matter. I in fact it is much easier than you think. You do not have to construct the tools, you only have read them and see how they confirm what trade to make. Reading about anything on Forex Trading strategies improves your knowledge. The more you read the better you will understand when to trade.
10. After you have demo traded for a while and you are confident you will have gained the
ability to identify any software you might want to buy which will add value to your Forex
Trading Home Business.
Ofcourse the above enumerated factors are only to get your feet wet, when the real money begins to show in your account that is when you truly begin to learn. In the mean time, whilst you are learning you should be earning some money because the debts mount up and the money is not enough. Well, follow me and I'll take you right there and show you how. As a home town tutor I understand your requirements, many of my pupils come to me for the reason that you are reading this. They too had financial duress.
• Knowledge is power.
• Power is success
• Success is money
All life's efforts are rewarded
Do it and be rid of tensions and hassles. Open your cage and let yourself out. Many before you have made it, and so can you if you will take my advice and heed the warnings about
internet hype and scams.
Follow me and you'll be all right. All housewives and mothers are able to make a good income from a home based Forex Trading business. It is a flexi-time business which allows
you to tend the family besides earning a good income.
Residual Income increases daily and is underpinned by the many successes scored. This opportunity is helping to reduce unnecessary home tensions and is consequently indirectly assisting in diminishing doctors and pharmacy bills. Housewives who work from home running an internet Fore Trading home business do this to curtail the home budget shortfalls, but beginner beware. You will need to be very sure you know what and where to go. This article is a classic must read for the housewife aspiring to become another successful Internet Forex Trading Home Business Entrepreneur. It emphasizes the importance of being vigilant to
stay out of the clutches of the many scammers on the net. Remember hollow barrels make the most noise. Be shrewd and stay away from hype mongers. The whole setting up process will cost you nothing.
The housewives' multiple roll
The subject of managing a successful Forex Traders Internet Home Business with a big Income has many stories, none as relevant as the housewives who are successfully contributing major shares of the home budgets, new cars and home extensions etc. For the housewife seeking to be an internet business entrepreneur this article is a must read to avoid the many hidden pitfalls, the broad outline of which will be examined here. The excessive hype which surrounds this subject is created by those issues which at the death are of nil and no consequence in the creation of a successful Forex Trading internet home business income.
The saying that hollow barrels make most noise is very relevant.
Avoid the internet traps
Let us examine the best way to avoid being snared by one or more of these hype mongers.
There is however a lesson to be learned even from the hype mongering on the net, which is that they started where we did and have learned to cope with the vagaries of the profession they have chosen by heeding the right advice instead of taking all the over exuberant internet hype.
Some of the frustrations and expensive pitfalls are not always for a lack of knowledge but can sometimes be due to having learned the wrong habits in the profession. Therefore be watchful of your net associations, every broker is on the net to make money, unfortunately many don't care how they achieve this. Money remains the root of all evil. Don't get snared. Read on and learn. There is no greater blindness in this life than not knowing that you don't know. Read that sentence again and let it sink in. It is about the best bit of philosophy you'll hear for many years. If you recognize your lack of knowledge you are wise enough to ask and learn, but if you don't know that you don't know the Forex Trading home business income Gurus will have a chunk of you, and your wallet.
So what are the first steps to Forex Trading,
1. You need a little computer literacy.
2. You need the will to succeed.
3. Join some forums and read and ask questions.
4. Set up a Demo account
5. Join a no cost tutorial site. Babypips is very good
6. Set out your trading plan and stick to it
7. Trade to a definite system and improve it as you go.
8. Read all you can on the net but buy nothing, all you need now is for free.
9. Learn about technical and fundamental analysis. Big words, could make one feel
intimidated,make you think that this is a complicated matter. I in fact it is much easier than you think. You do not have to construct the tools, you only have read them and see how they confirm what trade to make. Reading about anything on Forex Trading strategies improves your knowledge. The more you read the better you will understand when to trade.
10. After you have demo traded for a while and you are confident you will have gained the
ability to identify any software you might want to buy which will add value to your Forex
Trading Home Business.
Ofcourse the above enumerated factors are only to get your feet wet, when the real money begins to show in your account that is when you truly begin to learn. In the mean time, whilst you are learning you should be earning some money because the debts mount up and the money is not enough. Well, follow me and I'll take you right there and show you how. As a home town tutor I understand your requirements, many of my pupils come to me for the reason that you are reading this. They too had financial duress.
• Knowledge is power.
• Power is success
• Success is money
All life's efforts are rewarded
Do it and be rid of tensions and hassles. Open your cage and let yourself out. Many before you have made it, and so can you if you will take my advice and heed the warnings about
internet hype and scams.
Follow me and you'll be all right. All housewives and mothers are able to make a good income from a home based Forex Trading business. It is a flexi-time business which allows
you to tend the family besides earning a good income.
Subscribe to:
Posts (Atom)
