Forex Trading|How to trade foreign currencies
Nov
18
Filed Under (Trading USD-EUR) by admin
There is no assurance for accomplishment where productive is concerned. Taking into account how essential money is in the world, jeopardizing it is filled with peril, and engaging in FOREX trading is unquestionably not without risk. However here are some guidelines that can lend you a hand to make certain you have a rewarding FOREX trading system.
* Get hold of an automated FOREX trading system
While still learning the ropes of the game, getting a hold of an automated trading system is highly recommended. From guiding you, it will also give you the opportunity to learn what works best. FOREX robots as what we popularly address them, runs convoluted statistical algorithms to distinguish the most advantageous moments to make trades. Best part, after configuring them, they automatically run to autopilot.
* Initiate putting your instinct to use
Once you have experienced the gains and losses, you will be able to understand how it all works, not just the numbers, but of how the different currencies fluctuate. Do watch some current events and pay attention. Watchfully put into operation your instinct based on the facts that you have recently gathered.
* Train yourself
FOREX can be exceedingly intricate. Prepare yourself with the precise information sooner than beginning to use your actual cash. Use training accounts presented from most, if not all, broking companies. Continue to study as you go.
* In no way risk much more than you can afford
If you cannot afford to lose it, then you cannot play the game. Losses are pretty normal in FOREX trading, it is expected, but you are capable of minimizing the damage, and bring only the amount that you can afford to lose.
* Trade on popular currency duo
Stick to the specifics: if you are clueless as to whatever you are doing, hunt for advices or hang about with the safe options. By trading on the popular currency duo, you will locate yourself in a reassured zone, in which you can learn and grow. The five most accepted duos are USD/EUR, USD/JPY, USD/GBD, USD/CHF and EUR/JPY.
* Intend for long-term commitment
If you assume that FOREX can bring huge profits in a short span of time, you are very mistaken. The currency changes ever so often. The lows and highs can be massive, or leveled out depending on the event that is happening world wide. Look at it as something that you are interested on committing for a long time, so that you will understand how it will work in various situations and unstableness.
FOREX trading entails a practical concentration span, on details, on understanding of currency markets. You also have to have a plan. Do not involve yourself in FOREX trading lacking a trading system.
By: jason bb han
* Get hold of an automated FOREX trading system
While still learning the ropes of the game, getting a hold of an automated trading system is highly recommended. From guiding you, it will also give you the opportunity to learn what works best. FOREX robots as what we popularly address them, runs convoluted statistical algorithms to distinguish the most advantageous moments to make trades. Best part, after configuring them, they automatically run to autopilot.
* Initiate putting your instinct to use
Once you have experienced the gains and losses, you will be able to understand how it all works, not just the numbers, but of how the different currencies fluctuate. Do watch some current events and pay attention. Watchfully put into operation your instinct based on the facts that you have recently gathered.
* Train yourself
FOREX can be exceedingly intricate. Prepare yourself with the precise information sooner than beginning to use your actual cash. Use training accounts presented from most, if not all, broking companies. Continue to study as you go.
* In no way risk much more than you can afford
If you cannot afford to lose it, then you cannot play the game. Losses are pretty normal in FOREX trading, it is expected, but you are capable of minimizing the damage, and bring only the amount that you can afford to lose.
* Trade on popular currency duo
Stick to the specifics: if you are clueless as to whatever you are doing, hunt for advices or hang about with the safe options. By trading on the popular currency duo, you will locate yourself in a reassured zone, in which you can learn and grow. The five most accepted duos are USD/EUR, USD/JPY, USD/GBD, USD/CHF and EUR/JPY.
* Intend for long-term commitment
If you assume that FOREX can bring huge profits in a short span of time, you are very mistaken. The currency changes ever so often. The lows and highs can be massive, or leveled out depending on the event that is happening world wide. Look at it as something that you are interested on committing for a long time, so that you will understand how it will work in various situations and unstableness.
FOREX trading entails a practical concentration span, on details, on understanding of currency markets. You also have to have a plan. Do not involve yourself in FOREX trading lacking a trading system.
By: jason bb han
Nov
16
Filed Under (Trading USD-EUR) by admin
We all have heard the saying “Old is Gold” and in the recent past when there was boom in every sector it did appear that “Gold” has become “Old”, and there was no point in going for something that old. We had so many sectors to look at where the returns we just fab. Buy today hold for a few weeks and sell it you make a good 15%-20% margin on that. What more do we wanted. I know friends who have made some killing returns on real estate and commodities like this. But…., no body thought in the wildest of their dreams that all that boom period is short lived and there will be a burst.
“Boom” went the economies and now nothing gives any return. Oil which was around $150 is $45. So is copper, corn and what ever you name. Value of currencies is the same. I am not talking about the Zimbabwean Dollar…., I read somewhere that they are introducing a Zimbabwean Dollar Trillion note. Sorry to say but the guys there (authorities) look crazy to me, what are they trying to prove, a Trillion Zimbabwean Dollar note. I have a 100 Billion one which I bought as collection item and that itself looks quite stupid.
Any way, we were talking about the stable currencies, the likes of USD, EUR and GBP. Look at our dear British pound which was 1£= $1.89 and is about 1£ = $1.30 today. Against the Euro it is one-to-one. Reports are saying that the pound might go one-to-one with the dollar.
I live in UK and what does this mean to me. I have to confess here that I am no financial / economic expert but my plain and simple mind says that British economy is heavily dependent on imports, almost all the things which we have are imported from various countries and I am sure that the majority of payments are made in USDs. What would that mean if the pound goes one-to-one to the USD. I think it means super duper expensive products, the veggies, the meat almost everything. It really make me nervous to think that the import costs will be so high if the pound becomes equal to the US dollar.
Now…, I have been reading a lot of articles form various experts about what to do in this time of crises and how to save the money. The devaluation of pound is so rapid that very soon all the fun of going to New York for shopping will be gone (if it has not already) and shopping in UK itself will be tough. Various experts have been suggesting various ways to save money. I have also done my calculations and have the following in mind. The oldest method which has been adopted for centuries by humans to fight inflation has been Gold. People have always found that no matter what comes, Gold always remain the most precious of all and in the time of crises people look at gold as a saviour. I have calculated gold with the sliding pound is mind and have the following…..today the Pound is $1.30 which means that for every pound I get £1.30. Now if I buy gold which is $900 per Troy Ounce I will be spending £692 (900/1.30). Now, lets presume that the pound and US dollar have become equal. What would that mean to Gold which is $900, won’t it be £900 also since a pound will buy an equal amount of dollars.
This in fact means that the value of my Gold becomes to what it will be in Dollars. Supposing the Gold price is still $900. Since pound and dollar are equal wont the Gold price be £900. If this is true what does it mean….the Gold which I bought for £692 will be worth £900 although in the international market the value of the pound has diminished but locally I will be getting more pounds, isn’t it? Even if the Gold prices remain stationary which is highly unlikely to happen, just the sliding pound will give me a good return.
Analysts are saying that the Gold should be touching the four figure per Troy Ounce mark very soon. No wonder there is such a heavy rush in the shops that sell Gold coins, try getting one and you will see what I mean. I have been in touch with a few friends who have bought or are trying to buy gold coins and I am amazed to learn that they just can’t find any. Apparently there is a premium on some !
Therefore friends its time to get a bit worried about the pound and start thinking about where to invest so that we don’t reach a negative equity status. I think in the current scenario we can easily say that “Gold is Gold”, lets get some as an investment.
Hey, by the way, Valentine Day’s around, why not buying a Gold Coin for your loved one. You know we women just love Gold anyway !
By: Emma
“Boom” went the economies and now nothing gives any return. Oil which was around $150 is $45. So is copper, corn and what ever you name. Value of currencies is the same. I am not talking about the Zimbabwean Dollar…., I read somewhere that they are introducing a Zimbabwean Dollar Trillion note. Sorry to say but the guys there (authorities) look crazy to me, what are they trying to prove, a Trillion Zimbabwean Dollar note. I have a 100 Billion one which I bought as collection item and that itself looks quite stupid.
Any way, we were talking about the stable currencies, the likes of USD, EUR and GBP. Look at our dear British pound which was 1£= $1.89 and is about 1£ = $1.30 today. Against the Euro it is one-to-one. Reports are saying that the pound might go one-to-one with the dollar.
I live in UK and what does this mean to me. I have to confess here that I am no financial / economic expert but my plain and simple mind says that British economy is heavily dependent on imports, almost all the things which we have are imported from various countries and I am sure that the majority of payments are made in USDs. What would that mean if the pound goes one-to-one to the USD. I think it means super duper expensive products, the veggies, the meat almost everything. It really make me nervous to think that the import costs will be so high if the pound becomes equal to the US dollar.
Now…, I have been reading a lot of articles form various experts about what to do in this time of crises and how to save the money. The devaluation of pound is so rapid that very soon all the fun of going to New York for shopping will be gone (if it has not already) and shopping in UK itself will be tough. Various experts have been suggesting various ways to save money. I have also done my calculations and have the following in mind. The oldest method which has been adopted for centuries by humans to fight inflation has been Gold. People have always found that no matter what comes, Gold always remain the most precious of all and in the time of crises people look at gold as a saviour. I have calculated gold with the sliding pound is mind and have the following…..today the Pound is $1.30 which means that for every pound I get £1.30. Now if I buy gold which is $900 per Troy Ounce I will be spending £692 (900/1.30). Now, lets presume that the pound and US dollar have become equal. What would that mean to Gold which is $900, won’t it be £900 also since a pound will buy an equal amount of dollars.
This in fact means that the value of my Gold becomes to what it will be in Dollars. Supposing the Gold price is still $900. Since pound and dollar are equal wont the Gold price be £900. If this is true what does it mean….the Gold which I bought for £692 will be worth £900 although in the international market the value of the pound has diminished but locally I will be getting more pounds, isn’t it? Even if the Gold prices remain stationary which is highly unlikely to happen, just the sliding pound will give me a good return.
Analysts are saying that the Gold should be touching the four figure per Troy Ounce mark very soon. No wonder there is such a heavy rush in the shops that sell Gold coins, try getting one and you will see what I mean. I have been in touch with a few friends who have bought or are trying to buy gold coins and I am amazed to learn that they just can’t find any. Apparently there is a premium on some !
Therefore friends its time to get a bit worried about the pound and start thinking about where to invest so that we don’t reach a negative equity status. I think in the current scenario we can easily say that “Gold is Gold”, lets get some as an investment.
Hey, by the way, Valentine Day’s around, why not buying a Gold Coin for your loved one. You know we women just love Gold anyway !
By: Emma
Nov
12
Filed Under (Trading USD-EUR) by admin
Forex market is operating through electronic network of banks, corporate firms and individuals without any central body and central exchange. Money from all over the world is used for trading in the forex market. For example, a broker might buy a pound when the pound to dollar ratio increases, then sell the pounds and buy back American dollars for a profit.
If you are entering to the currency trading it’s really difficult to decide the best currencies to trade with. Choosing the right currency is like wining the half battle. Prices of the currencies are influenced by several factors like political conditions of the issuing country, social and economic conditions. Stability of the market, interest rates, inflation also plays a major role in the price raising or falling.
Each currency playing in the Forex market is given its own three letter code that is used in the Forex quotes. USD (U.S. dollars), GBP (United Kingdom pounds), JPY (Japanese yen), CAD (Canadian dollars), EUR (European euros), AUD (Australian dollars) and CHF (Swiss francs) are the top currencies used in the forex market. The prices of the foreign currency exchanges are specified in pairs by the forex quotes. By using a currency pair of U.S. dollars and Japanese Yens means that the first currency is the base (which is always at 1) and the second currency is the quote. The quote currency or second currency shows how much it costs to buy one unit of the USD, or base currency)
Apart from the above mentioned top currencies there are some other one’s which are not on the top but are able to make some good investments. CNY (China yuan), CZK (Czech koruna), HKD (Hong Kong dollar), HUF (Hungarian Forint), INR (Indian Rupee), KRW (Korean Won), MXN (Mexican Peso), PLN (Polish Zloty), SGD (Singapore dollar), ZAR (South African Rand), and THB (Thai Baht).
Try to concentrate on the major pairs as they are the top traded and therefore charting patterns and technical indicators are generally more reliable. These pairs have the tightest spreads. This is extremely important because you really don’t want to be trading pairs that have wide spreads simply because it limits your profits more and puts added pressure on you to make correct calls.
Another factor to be considered is location and time at which you are available for trading. For example, the GBP/USD is most active between around 8.00 GMT and 20.00 GMT, and if you are based in Australia due to time difference you would miss most of the action if you wanted to trade in the daytime.
It’s generally recommended to stick to three of the four major currency pairs – GBP/USD, EUR/USD and USD/JPY but the emerging currencies can also make profit if traded wisely. Sticking to the right currency and playing with it will let you high in the currency trading game and you will always touch the profit. There aren’t really any best currencies to trade; each pair is potentially very profitable.
By: acmarkets
If you are entering to the currency trading it’s really difficult to decide the best currencies to trade with. Choosing the right currency is like wining the half battle. Prices of the currencies are influenced by several factors like political conditions of the issuing country, social and economic conditions. Stability of the market, interest rates, inflation also plays a major role in the price raising or falling.
Each currency playing in the Forex market is given its own three letter code that is used in the Forex quotes. USD (U.S. dollars), GBP (United Kingdom pounds), JPY (Japanese yen), CAD (Canadian dollars), EUR (European euros), AUD (Australian dollars) and CHF (Swiss francs) are the top currencies used in the forex market. The prices of the foreign currency exchanges are specified in pairs by the forex quotes. By using a currency pair of U.S. dollars and Japanese Yens means that the first currency is the base (which is always at 1) and the second currency is the quote. The quote currency or second currency shows how much it costs to buy one unit of the USD, or base currency)
Apart from the above mentioned top currencies there are some other one’s which are not on the top but are able to make some good investments. CNY (China yuan), CZK (Czech koruna), HKD (Hong Kong dollar), HUF (Hungarian Forint), INR (Indian Rupee), KRW (Korean Won), MXN (Mexican Peso), PLN (Polish Zloty), SGD (Singapore dollar), ZAR (South African Rand), and THB (Thai Baht).
Try to concentrate on the major pairs as they are the top traded and therefore charting patterns and technical indicators are generally more reliable. These pairs have the tightest spreads. This is extremely important because you really don’t want to be trading pairs that have wide spreads simply because it limits your profits more and puts added pressure on you to make correct calls.
Another factor to be considered is location and time at which you are available for trading. For example, the GBP/USD is most active between around 8.00 GMT and 20.00 GMT, and if you are based in Australia due to time difference you would miss most of the action if you wanted to trade in the daytime.
It’s generally recommended to stick to three of the four major currency pairs – GBP/USD, EUR/USD and USD/JPY but the emerging currencies can also make profit if traded wisely. Sticking to the right currency and playing with it will let you high in the currency trading game and you will always touch the profit. There aren’t really any best currencies to trade; each pair is potentially very profitable.
By: acmarkets
Oct
18
Filed Under (Trading USD-EUR) by admin
The Forex (Foreign Exchange Market) exists because multi-national corporations and nations need to buy and sell goods/services from outside sources. To do that, they need to exchange their home currency with that of other nations. As you know, not all currencies have the same buying power so nations, banks, and corporations exchange their money with one another just as tourists do when traveling abroad-same concept, just a LOT bigger scale!
In fact, the Forex is the single largest financial market in the world and upwards of 1.8 trillion dollars are traded every day-between the hours of 5 p.m. EST Sunday thru 4 p.m. EST Friday. Between those hours, the Forex market is open and there are always brokers out there willing to buy and sell positions. However, unlike the NYSE, there is no centralized exchange but rather an informal network of computers supplied by investment houses, central banks, and other large players which help facilitate the trades.
The Forex market actually trades dozens of different currency pairs. The base currency is the first in the pair and was used to set up the trading account. The counter currency is the second in the pair and is sometimes referred to as the “terms” currency. A typical lot is $100,000 and an investor might be interested in the currency pair USD/CAN for instance. That means that the investor would buy $100,000 worth of Canadian dollars with the base currency (USD) at the current exchange rate in order to open a position.
While there are literally dozens of different currencies exchanged on the Forex, investors are advised to concentrate only on currencies that trade with the USD. The USD backs nearly 90% of all trades on the Forex and it is one of 8 main players in the market, including:
· U.S. Dollar (USD)
· British Pound Sterling (GBP)
· Euro (EUR)
· Canada Dollar (CAN)
· Australian Dollar (AUD)
· Swiss Franc (CHF)
· New Zealand Dollar (NZD)
· Japanese Yen (JPY)
By sheer volume alone, the USD/EUR and USD/GBP are the two most popular currency pairs on the Forex based upon volume. However, this does not necessarily mean that they are always the best investment options at any given time. The currency pairs with the greatest pip movement are also the most volatile and risky. The trick for any investor is to identify the currency pair that has the greatest potential for pip movement with the least volatility. Only analysis of technical data can provide that information but there are brokers out there offering this information as part of their service package so it is a very good idea to see what is offered before signing up with any specific broker.
Again, the most popular currencies are not always going to be the most profitable so be sure to analyze a lot of charts and track price movements between different pairs over the same period of time to help find the best pair for you which will provide the greatest profit potential and the least volatility.
By: Kent Douglas
In fact, the Forex is the single largest financial market in the world and upwards of 1.8 trillion dollars are traded every day-between the hours of 5 p.m. EST Sunday thru 4 p.m. EST Friday. Between those hours, the Forex market is open and there are always brokers out there willing to buy and sell positions. However, unlike the NYSE, there is no centralized exchange but rather an informal network of computers supplied by investment houses, central banks, and other large players which help facilitate the trades.
The Forex market actually trades dozens of different currency pairs. The base currency is the first in the pair and was used to set up the trading account. The counter currency is the second in the pair and is sometimes referred to as the “terms” currency. A typical lot is $100,000 and an investor might be interested in the currency pair USD/CAN for instance. That means that the investor would buy $100,000 worth of Canadian dollars with the base currency (USD) at the current exchange rate in order to open a position.
While there are literally dozens of different currencies exchanged on the Forex, investors are advised to concentrate only on currencies that trade with the USD. The USD backs nearly 90% of all trades on the Forex and it is one of 8 main players in the market, including:
· U.S. Dollar (USD)
· British Pound Sterling (GBP)
· Euro (EUR)
· Canada Dollar (CAN)
· Australian Dollar (AUD)
· Swiss Franc (CHF)
· New Zealand Dollar (NZD)
· Japanese Yen (JPY)
By sheer volume alone, the USD/EUR and USD/GBP are the two most popular currency pairs on the Forex based upon volume. However, this does not necessarily mean that they are always the best investment options at any given time. The currency pairs with the greatest pip movement are also the most volatile and risky. The trick for any investor is to identify the currency pair that has the greatest potential for pip movement with the least volatility. Only analysis of technical data can provide that information but there are brokers out there offering this information as part of their service package so it is a very good idea to see what is offered before signing up with any specific broker.
Again, the most popular currencies are not always going to be the most profitable so be sure to analyze a lot of charts and track price movements between different pairs over the same period of time to help find the best pair for you which will provide the greatest profit potential and the least volatility.
By: Kent Douglas
Oct
12
Filed Under (Trading USD-EUR) by admin
In the Forex market, it is possible to make money by buying and selling currencies. To understand how to make money trading Forex, some basics of the forex market need to be understood. The Forex market is very similar to a stock market; the mechanics involved in Forex trade are very much comparable to those in the stock trading field. The objective of Forex trading is exchanging one currency for another in anticipation that price will raise, so that the currency bought will be at a higher value compared to the currency sold. Every two currencies involved in the trade are known as currency pairs.
It is easy to pick up how to make money trading forex if the investor is already familiar with stock trading. An exchange rate in the Forex trade is the ratio of the value of one currency with respect to another. For instance, USD/JPY exchange rate means how many US dollars can buy one Japanese Yen or vice versa.
It is essential to learn how to read a Forex quote to know how to make money trading forex. Currencies are quoted as pairs like USD/EUR or USD/GBP. This is because every forex transaction involves two currencies – buying one currency while selling another.
If a quote is given as GBP/USD = 1.5:
· The currency given first before the slash (/) is the Base currency
· The one to the right of the slash is the Counter or Quote currency.
One more terminology to understand how to make money trading Forex is Long/ Short. If an investor wants to buy, he has to wait for the base currency value to increase so that it can be sold at a higher price. In Forex trade jargon, it is called taking a ‘long position’. When investor wants to sell, the base currency value has to reduce so that it can be bought back at a lower price. This is known as taking a ‘short position’.
Forex robot is software that acts as a personal expert advisor in Forex trading. Their algorithms are built to pick the best currency pairs to trade and the right time for trading. All the user needs to do is set up a trade account and adjust parameters like currency, profit limit, stop loss limit etc. The Robot can be made to carry on trading 24 hours for five days a week when the Forex market is active.
Want to take the guesswork out of Forex trades? Read this detailed review on the most popular and profitable forex trading robots that are making successful trades on autopilot for their traders at http://automated-forex-software.com/best-forex-trading-software-products.html
By: Allisson Wood
It is easy to pick up how to make money trading forex if the investor is already familiar with stock trading. An exchange rate in the Forex trade is the ratio of the value of one currency with respect to another. For instance, USD/JPY exchange rate means how many US dollars can buy one Japanese Yen or vice versa.
It is essential to learn how to read a Forex quote to know how to make money trading forex. Currencies are quoted as pairs like USD/EUR or USD/GBP. This is because every forex transaction involves two currencies – buying one currency while selling another.
If a quote is given as GBP/USD = 1.5:
· The currency given first before the slash (/) is the Base currency
· The one to the right of the slash is the Counter or Quote currency.
One more terminology to understand how to make money trading Forex is Long/ Short. If an investor wants to buy, he has to wait for the base currency value to increase so that it can be sold at a higher price. In Forex trade jargon, it is called taking a ‘long position’. When investor wants to sell, the base currency value has to reduce so that it can be bought back at a lower price. This is known as taking a ‘short position’.
Forex robot is software that acts as a personal expert advisor in Forex trading. Their algorithms are built to pick the best currency pairs to trade and the right time for trading. All the user needs to do is set up a trade account and adjust parameters like currency, profit limit, stop loss limit etc. The Robot can be made to carry on trading 24 hours for five days a week when the Forex market is active.
Want to take the guesswork out of Forex trades? Read this detailed review on the most popular and profitable forex trading robots that are making successful trades on autopilot for their traders at http://automated-forex-software.com/best-forex-trading-software-products.html
By: Allisson Wood
Oct
12
Filed Under (Trading USD-EUR) by admin
Do you think that forex trading is easy or difficult? If you are like most people, you would feel that forex trading is a risky and difficult financial game.
If you think it this way, how can a game with only two options (buy and sell) be so difficult?
It has lesser commands than your typical Xbox360 game! The reasons why most traders can keep losing money are that they are not following the simple rules that have made the top traders so rich. Now learn to trade forex with these 5 simple and powerful trading rules that the top traders use.
1. Obey the trend or else they will kill you
People say that trends are friends. Well, I would say trends are like wave of tsunami that sweeps anyone away who goes against it. Do not try to trade against trend or you will surely get killed.
Trends are so powerful because they are directed by the majority of the traders. They all have the same opinion where the prices should go. So learn to trade forex by following the trend. It will greatly improve your net profits in the long term.
2. Stick to your trading plan and embed it into your DNA
If trend is like a tsunami wave, a trading plan would be the actions to get you out safety and profitably.
Most traders get confused in the trading market due to the zig zag manner in how the prices move. These are noises in the market and will often interfere with your emotions to trade properly. In this kind of situation, you need to follow your trading plan to keep calm. Learn to trade forex like a robot who only follows the trading plan.
3. Trade with the money you simply do not care
Money is the holy idol of many people. Nothing wrong about that but the temporary loss and gain of it during trading will constantly affect you to trade properly.
If you are having this problem, treat your money as a business inventory instead. It is simply an expendable business inventory that you have to sacrifice to make you more money.In order to do that, you should allocate money that you can afford to lose without any pain. Learn to trade forex without any pain and then you can follow your trading plan faithfully!
4. Trade the currencies that is world is looking
Noise is a killer in forex trading. It causes traders to exit or enter at the wrong time. The noise level in thin currencies is the worse. Big traders can manipulate the currencies easily to hit your stoploss before continuing your intended direction.
We do not want to put ourselves in difficult spot so we only trade the major currencies. These currencies are traded by most the forex traders in the world and thus they follow a steady trend.
Learn to trade forex using the big 5 currencies only: USD/EUR, USD/JPY, USD/GBD, USD/CHF, and EUR/JPY. They have high liquidity as they are traded by the majority of the traders.
5. Make Forex dull and professional
Make forex trading another dull routine of yours. Every day you simply fulfill this routine by following your trading plan.
Excitement and any kind of emotions do not make you any money. They are merely making you ineffective in trading. If you are trading with the money you can lose without any pain, there is absolutely nothing in forex trading that can cause your emotions to go wild.
Once you learn to trade forex without any emotions, the sky is the limit to how wealthy you can be.
By: Mike
If you think it this way, how can a game with only two options (buy and sell) be so difficult?
It has lesser commands than your typical Xbox360 game! The reasons why most traders can keep losing money are that they are not following the simple rules that have made the top traders so rich. Now learn to trade forex with these 5 simple and powerful trading rules that the top traders use.
1. Obey the trend or else they will kill you
People say that trends are friends. Well, I would say trends are like wave of tsunami that sweeps anyone away who goes against it. Do not try to trade against trend or you will surely get killed.
Trends are so powerful because they are directed by the majority of the traders. They all have the same opinion where the prices should go. So learn to trade forex by following the trend. It will greatly improve your net profits in the long term.
2. Stick to your trading plan and embed it into your DNA
If trend is like a tsunami wave, a trading plan would be the actions to get you out safety and profitably.
Most traders get confused in the trading market due to the zig zag manner in how the prices move. These are noises in the market and will often interfere with your emotions to trade properly. In this kind of situation, you need to follow your trading plan to keep calm. Learn to trade forex like a robot who only follows the trading plan.
3. Trade with the money you simply do not care
Money is the holy idol of many people. Nothing wrong about that but the temporary loss and gain of it during trading will constantly affect you to trade properly.
If you are having this problem, treat your money as a business inventory instead. It is simply an expendable business inventory that you have to sacrifice to make you more money.In order to do that, you should allocate money that you can afford to lose without any pain. Learn to trade forex without any pain and then you can follow your trading plan faithfully!
4. Trade the currencies that is world is looking
Noise is a killer in forex trading. It causes traders to exit or enter at the wrong time. The noise level in thin currencies is the worse. Big traders can manipulate the currencies easily to hit your stoploss before continuing your intended direction.
We do not want to put ourselves in difficult spot so we only trade the major currencies. These currencies are traded by most the forex traders in the world and thus they follow a steady trend.
Learn to trade forex using the big 5 currencies only: USD/EUR, USD/JPY, USD/GBD, USD/CHF, and EUR/JPY. They have high liquidity as they are traded by the majority of the traders.
5. Make Forex dull and professional
Make forex trading another dull routine of yours. Every day you simply fulfill this routine by following your trading plan.
Excitement and any kind of emotions do not make you any money. They are merely making you ineffective in trading. If you are trading with the money you can lose without any pain, there is absolutely nothing in forex trading that can cause your emotions to go wild.
Once you learn to trade forex without any emotions, the sky is the limit to how wealthy you can be.
By: Mike
Oct
09
Filed Under (Trading USD-EUR) by admin
8 EASY STEPS TO FOREX TRADING SUCCESS
1) There are basic steps to master when first beginning Forex Trading. Many different issues come into play when implementing successful Forex Trading strategies.
2) Of course, conducting your very own Forex Trading program can be very lucrative and is the best home-based business there is.
3) Now, let’s explore some of the important parts of a solid Forex Trading Simplified plan.
Here you will learn what Forex is and what it will do for you. To begin, you need to understand the meaning of the term “Forex”. It means FOReign EXchange market. This is the international foreign currency exchange market where all types of currencies are bought and sold. The Forex market started in the late 1960’s when floating currencies and free exchange rates were first introduced worldwide. At that time, the Forex market traders were the only players in the market. They alone decided on the value of one type of currency against another. All solely based upon a particular currency’s supply and demand.
The Forex market is very different for several reasons. This is one of the very few markets that is free from any external controls and cannot be manipulated. It also requires little or no trading qualifications. There is no doubt it is the largest worldwide financial market. In 2007 worldwide trading reached 2 trillion US$. The money moves around so fast it is not possible for a single trader to make any major change that would affect the price of any international currency. Also, unlike Stocks, Forex traders are able to open and close their positions all within seconds. This is due to the fact that there is always a large number of willing and eager buyers and sellers.
STEP 1 FINDING A FOREX TRADING STRATEGY THAT WORKS WITH MINIMUM OR NO LOSSES
To be really successful in Forex Trading you must use your own trading strategy. Some traders rely only on technical analysis; others will prefer a more fundamental approach. It should be noted here that most successful traders use some form of available and automated trading software to maximize trading opportunities and minimize excessive time in front of a monitor.
It is necessary to have a trading strategy that gives you an “edge” in your trading the market, discipline to use it, and solid money management. See if you can answer below questions:
1. Do you have a special trading advantage/skill..?? What is it..?? If you don’t know, then you don’t have an advantage or special knowledge.
2. Consider your discipline……do you really follow your trading strategy without fail, even after two successive losing trades..?? Or, do you simply drop the strategy and move on to the next one..??
3. Consider your money management: are you allocating an appropriate fund amount and also controlling the amount of risk on each trade..??
Almost all traders fail because they cannot answer “Yes” to all three questions. The secret to obtaining the discipline needed to be a winner is to have a strategy that provides a winning edge, includes sound money management practices and is simple to use.
Any trading programs that you use should be completely automated, not require extensive technical knowledge, and NOT require sitting in front of a PC monitor all day as most software programs do. I have found a few, very few, software trading programs out there that meet this requirement and really do work.
STEP 2 TRENDS
You must understand that Forex market prices always move by trends. In fact, there are certain movements that have been studied over several years to identify these trend patterns. Such trends must be understood in order to have a good trading strategy. For any account of US$ 20,000 and under, trading with a specific trend understanding will maximize your odds of making a profit. A lot of new traders seek to trade in all different directions at the same time when they should be focusing on more simple trend patterns.
STEP 3 TRADING ACCOUNT SIZE TO USE
There is not one single right answer to this question. To start with, you should only use trade funds that you can afford to lose. Forex brokers allow you to trade standard and/or mini lots. The margin depends on the pair you are trading. For a standard lot it is around $1,000 and for a mini lot it is around $200. Technically, you could open an account with $400 and trade 2 mini lots. Obviously, you would be violating your basic risk management rules and most likely would end up losing your “grubstake”.
You must never risk more than 2% of your account size on any one trade. Therefore, if you take out 1 mini lot and risk 50 pips, that would be approx $50 of trade risk (assuming a US dollar counter currency pair). In other words, you must have an account size of at least $2,500 ($2,500 x 2% = $50) to take out that specific trade without violating your risk management rules.
STEP 4 TOP FOREX PAIRS TO TRADE
Not all Forex pairs are suitable for trading. We need to find liquid markets that have enough price movement to make a trade worthwhile.
The following pairs are the most universally traded, are the most liquid pairs, and the only ones that I would even consider trading. They are not listed in any particular order:
GBP/USD – British Pound Sterling/US$ EUR/USD – Euro/US$ USD/JPY – US$/Japan Yen USD/CAD – US$/Canadian Dollar USD/CHF – US$/Swiss Franc
In fact, to further ease your Forex trading, you should limit your trading to the two most liquid and widely traded pairs: GBP/USD EUR/USD Following this recommendation alone will really reduce demands on your trading time without giving away any profit potential.
STEP 5 BROKER ACCOUNT OPENING
To open a Forex account, you simply fill out a broker application and provide the necessary ID. The application likely will include a margin agreement stating that the broker will be allowed to intervene in any trade which appears to be risky.
This agreement is made to protect the broker’s margin interests since trading is done with the broker’s funds. However, it is strongly advised that you establish an account and fund it 100% and never use any margin provisions.
STEP 6 HAVE TWO ACCOUNTS
For new Forex traders it is highly recommended to have two accounts; One as a demo account and another as your “live account. Use the demo account to learn the trading game and to test the best alternative market moves. Also, use a demo account to follow your “live” account trades so you can determine if you need to make any corrections or trade changes.
STEP 7 CHART REVIEWS
This is critical. always review the One Hour – Four Hour – and Daily charts that pertain to your specific trade setup to determine actual status and any movements. Some traders also trade at 15 and 30 minute time intervals. However, this requires some experience and is not recommended for new Forex traders.
STEP 8 FINALLY UNCOVER THE BIG MONEY OPPORTUNITIES WITH FOREX TRADING
In most cases, Forex markets are just like any other liquid markets such as stocks, bonds, or commodities. However, there is one major difference with the Forex markets. That is the trends are stronger and longer lasting and occur much more frequently than do trends in other markets.
It is quite common for a Forex pair to begin a new trend that will last for many weeks and sometimes months. I refer to these events as the “Forex Major Event”. When you combine these Major Event trends along with the ability to leverage a small account, this is where you can find the favorable opportunities trading Forex. Major Event trends have been known to often give 300 to 800 pip ranges. Now, those are really and truly BIG money opportunities.
In conclusion, Forex Trading success requires an understanding of: trading strategy, trends, account size to use, best Forex pairs to trade, etc. To ensure your trading success it is critical that you stay with a trading plan and treat it as a business. You need to always track your results and make necessary changes and improvements as you progress.
It should be noted that several additional and important Forex issues have been finally uncovered, however, they could not be covered in the short space given here.
By: Dr Tom Moyer
1) There are basic steps to master when first beginning Forex Trading. Many different issues come into play when implementing successful Forex Trading strategies.
2) Of course, conducting your very own Forex Trading program can be very lucrative and is the best home-based business there is.
3) Now, let’s explore some of the important parts of a solid Forex Trading Simplified plan.
Here you will learn what Forex is and what it will do for you. To begin, you need to understand the meaning of the term “Forex”. It means FOReign EXchange market. This is the international foreign currency exchange market where all types of currencies are bought and sold. The Forex market started in the late 1960’s when floating currencies and free exchange rates were first introduced worldwide. At that time, the Forex market traders were the only players in the market. They alone decided on the value of one type of currency against another. All solely based upon a particular currency’s supply and demand.
The Forex market is very different for several reasons. This is one of the very few markets that is free from any external controls and cannot be manipulated. It also requires little or no trading qualifications. There is no doubt it is the largest worldwide financial market. In 2007 worldwide trading reached 2 trillion US$. The money moves around so fast it is not possible for a single trader to make any major change that would affect the price of any international currency. Also, unlike Stocks, Forex traders are able to open and close their positions all within seconds. This is due to the fact that there is always a large number of willing and eager buyers and sellers.
STEP 1 FINDING A FOREX TRADING STRATEGY THAT WORKS WITH MINIMUM OR NO LOSSES
To be really successful in Forex Trading you must use your own trading strategy. Some traders rely only on technical analysis; others will prefer a more fundamental approach. It should be noted here that most successful traders use some form of available and automated trading software to maximize trading opportunities and minimize excessive time in front of a monitor.
It is necessary to have a trading strategy that gives you an “edge” in your trading the market, discipline to use it, and solid money management. See if you can answer below questions:
1. Do you have a special trading advantage/skill..?? What is it..?? If you don’t know, then you don’t have an advantage or special knowledge.
2. Consider your discipline……do you really follow your trading strategy without fail, even after two successive losing trades..?? Or, do you simply drop the strategy and move on to the next one..??
3. Consider your money management: are you allocating an appropriate fund amount and also controlling the amount of risk on each trade..??
Almost all traders fail because they cannot answer “Yes” to all three questions. The secret to obtaining the discipline needed to be a winner is to have a strategy that provides a winning edge, includes sound money management practices and is simple to use.
Any trading programs that you use should be completely automated, not require extensive technical knowledge, and NOT require sitting in front of a PC monitor all day as most software programs do. I have found a few, very few, software trading programs out there that meet this requirement and really do work.
STEP 2 TRENDS
You must understand that Forex market prices always move by trends. In fact, there are certain movements that have been studied over several years to identify these trend patterns. Such trends must be understood in order to have a good trading strategy. For any account of US$ 20,000 and under, trading with a specific trend understanding will maximize your odds of making a profit. A lot of new traders seek to trade in all different directions at the same time when they should be focusing on more simple trend patterns.
STEP 3 TRADING ACCOUNT SIZE TO USE
There is not one single right answer to this question. To start with, you should only use trade funds that you can afford to lose. Forex brokers allow you to trade standard and/or mini lots. The margin depends on the pair you are trading. For a standard lot it is around $1,000 and for a mini lot it is around $200. Technically, you could open an account with $400 and trade 2 mini lots. Obviously, you would be violating your basic risk management rules and most likely would end up losing your “grubstake”.
You must never risk more than 2% of your account size on any one trade. Therefore, if you take out 1 mini lot and risk 50 pips, that would be approx $50 of trade risk (assuming a US dollar counter currency pair). In other words, you must have an account size of at least $2,500 ($2,500 x 2% = $50) to take out that specific trade without violating your risk management rules.
STEP 4 TOP FOREX PAIRS TO TRADE
Not all Forex pairs are suitable for trading. We need to find liquid markets that have enough price movement to make a trade worthwhile.
The following pairs are the most universally traded, are the most liquid pairs, and the only ones that I would even consider trading. They are not listed in any particular order:
GBP/USD – British Pound Sterling/US$ EUR/USD – Euro/US$ USD/JPY – US$/Japan Yen USD/CAD – US$/Canadian Dollar USD/CHF – US$/Swiss Franc
In fact, to further ease your Forex trading, you should limit your trading to the two most liquid and widely traded pairs: GBP/USD EUR/USD Following this recommendation alone will really reduce demands on your trading time without giving away any profit potential.
STEP 5 BROKER ACCOUNT OPENING
To open a Forex account, you simply fill out a broker application and provide the necessary ID. The application likely will include a margin agreement stating that the broker will be allowed to intervene in any trade which appears to be risky.
This agreement is made to protect the broker’s margin interests since trading is done with the broker’s funds. However, it is strongly advised that you establish an account and fund it 100% and never use any margin provisions.
STEP 6 HAVE TWO ACCOUNTS
For new Forex traders it is highly recommended to have two accounts; One as a demo account and another as your “live account. Use the demo account to learn the trading game and to test the best alternative market moves. Also, use a demo account to follow your “live” account trades so you can determine if you need to make any corrections or trade changes.
STEP 7 CHART REVIEWS
This is critical. always review the One Hour – Four Hour – and Daily charts that pertain to your specific trade setup to determine actual status and any movements. Some traders also trade at 15 and 30 minute time intervals. However, this requires some experience and is not recommended for new Forex traders.
STEP 8 FINALLY UNCOVER THE BIG MONEY OPPORTUNITIES WITH FOREX TRADING
In most cases, Forex markets are just like any other liquid markets such as stocks, bonds, or commodities. However, there is one major difference with the Forex markets. That is the trends are stronger and longer lasting and occur much more frequently than do trends in other markets.
It is quite common for a Forex pair to begin a new trend that will last for many weeks and sometimes months. I refer to these events as the “Forex Major Event”. When you combine these Major Event trends along with the ability to leverage a small account, this is where you can find the favorable opportunities trading Forex. Major Event trends have been known to often give 300 to 800 pip ranges. Now, those are really and truly BIG money opportunities.
In conclusion, Forex Trading success requires an understanding of: trading strategy, trends, account size to use, best Forex pairs to trade, etc. To ensure your trading success it is critical that you stay with a trading plan and treat it as a business. You need to always track your results and make necessary changes and improvements as you progress.
It should be noted that several additional and important Forex issues have been finally uncovered, however, they could not be covered in the short space given here.
By: Dr Tom Moyer
Oct
09
Filed Under (Trading USD-EUR) by admin
To many web users, PayPal is not the kind of pal they had envisioned when starting their online business. Long on track history but overwhelmingly unpopular among merchants and buyers one is left to wonder why PayPal has continued to grow.
Ignorance and lack of knowledge has a lot to do with PayPal’s growth. Many merchants are not aware of the potential problems they can encounter depending solely on PayPal for their online payment processing. That is, until they encounter potential customers that won’t use PayPal to purchase their products or services. Or worse, they have their PayPal merchant account suspended and funds frozen without notice, effectively shutting down their business.
If you really want to get some idea as to the depth of PayPal’s unpopularity, you need only to do a search on Google. Type in “PayPal Complaints” and click enter and see what happens. Over 335,000 results and still counting. No other online merchant processor comes close to having this many dissatisfied customers.
‘Phishing’ is another reason many customers and potential customers are steering clear of PayPal. Not that PayPal is doing the ‘Phishing’, but they are certainly not making a big enough effort to stop it. And why should they? They are not ‘Phishing’ and they are not losing money. Only the customer is. Virtually 100% of online ‘Phishing’ associated with merchant accounts is done using the PayPal name. And even seasoned web users are being scammed by this technique.
Customers can eliminate most, if not all, of the ‘Phishing’ associated with online purchasing by simply using a different service. It is that simple! And there are plenty of good alternatives to PayPal out there that are hungry for your business. None are as big as PayPal and few have been around as long as PayPal. But they are reputable and offer a wide variety of services. And you most likely will never receive any ‘Phishing’ messages using their names.
So make the change now, before it is too late. Our advice is to avoid PayPal if at all possible. And we also would advise you to offer two different online payment options, with at least one providing you with the ability to accept payments by check.
Following, you will find the most complete listing relating to online payment options. Brief outlines are meant only to give you an idea of what they have to offer. We would suggest taking the time to visit each site. Your customers will thank you. And you will most likely eliminate a lot of headaches in the process.
2CheckOut 2CheckOut has been offering its services since 1999. 2CheckOut charges $49.00 to open an account with transaction fees of 5.5% plus 45 cents. It does not charge an application fee nor does it impose any monthly or statement fees. http://www.2CheckOut.com
BidPay BidPay has been in business since 1999 and offers services intended for those that buy and sell at online auctions. Sellers receive payments directly to their bank or via Western Union® branded money orders. http://www.BidPay.com
BitPass No set-up or maintenance fees for self-installed product. Fees for BitPass Professional range from 15% for items priced $0.01-$5.00 up to 5% + $0.50 for items priced $5.00 and higher. BitPass provides a platform for digital content commerce that bundles authentication, payment, and access control. BitPass enables a la carte and subscription-based purchases at any price point, starting at just one cent. Digital content can be Downloads – Music files, stock photography, games, software, movies, mobile content, crafts; Website Access – Premium website content, Interactive games, subscription sites, online comics, blogs, interactive panoramic photography; Streaming Media – internet radio, concerts, webisodes, movies; and Services – premium database searches, web hosting services, webinars, premium customer support, interactive learning and testing. https://www.bitpass.com
CCNow CCNow is the perfect low cost solution to selling your products online. With CCNow, you’ll avoid the up-front expense and time required to set up e-commerce software, merchant accounts, customer service and more. CCNow is a shopping cart system that will allow you to take all major credit cards without the need of a merchant account. http://www.CCNow.com
ClickBank If you have a unique product or service to sell, and it is deliverable over the Internet itself (via web pages, files, or email) then ClickBank is for you. They have 100,000 affiliates ready to promote your product. There is a one-time set-up fee of $50.00. Transactions are $1.00 plus 7.5%. http://www.ClickBank.com
DigiBuy Using DigiBuy’s ecommerce service, you can quickly and inexpensively build a secure shopping cart to merchandise your products, take orders online, process payments, and distribute digital products over the Internet. Transaction fee is 13.9% with a $3.00 minimum. http://www.DigiBuy.com
Ibill In business since 2002, Ibill is perfect for merchants that sell services and subscriptions. Merchants can accept payments online by credit card, check, and phone. Has numerous fee schedules but the most common is for businesses that sell up to $9,999.00 in a billing cycle. That charge is 15.19%. http://www.ibill.com
Ikobo This is a money transfer service that has been providing services since 2001. No application fee or set-up fees and transaction fees range from $1.99 – $2.99 plus 29 cents. Payments that are received are deposited to your Ikobo Visa Debit Card or your bank account. http://www.IKobo.com
Moneybookers Ltd. Moneybookers enables any business or consumer with an email address to securely and cost-effectively send and receive payments online – in real-time! Moneybookers delivers a product ideally suited for small businesses, online merchants, individuals and others currently underserved by traditional payment mechanisms. Does not charge for set-up or applying and has no monthly fee. Transaction fees range from 2% – 8%, depending on how payments are made. http://moneybookers.com
MonPay Monpay has been doing business since 2003. With it, you can sell products and services on web sites, auctions, and even by email. It does not charge for set-up or applying and has no monthly or hidden fees. Transaction fees for checks or credit cards are 2.95% plus 55 cents. http://www.monpay.com/
PayMate Claims it is the fastest and safest global trading service on the Internet. It has no set-up fees, gateway fees, etc. Has a very high User Satisfaction and continues to add new improvements on a regular basis. Transaction fees for credit card payments are charged at 2.4%. Please visit their web site for more information on transaction fees. http://www.paymate.com.au
PaySat With PaySat you can sell your products/services Online and enjoy such features as: International Merchants Accepted; Instant Application Approval; Product and Recurring Billing; Easy To Use Plug-N-Play Code; Flat Low Rates; No Set-up Fee; Multi domain/brand support; and Intelligent Fraud Detection System. PaySat is only in its 2nd year of operation but has a pretty good reputation. Transaction fees are 5.3% plus 39 cents. http://www.paysat.com
Paystone Great service that started in 2002. Free to open an account with instant approval. Fees to receive payments range from 2.8% + $0.10 for micropayments to 2.8% + $0.30 for transactions over $5.00. There are no set-up or monthly fees. http://www.paystone.com
PaySystems PaySystems Internet Merchant Account Solution is designed to meet the specific needs of Internet and mail/telephone order merchants. Available for U.S. and European-based businesses, the PaySystems Internet Merchant Account Solution allows merchants to expand their payment options, increase sales and focus their management efforts on growing their business. PaySystems has no application fees and no merchant account set-up fees. Offers highly competitive rates on transaction fees but you must contact them using their online form at http://eforms.paysystems.com/ps/info/ for more information. http://www.paysystems.com
ProPay USA With ProPay, merchants can accept payments by credit card on the Internet and by phone. There is no expensive equipment, no statement / gateway fees and no long term contracts to use their service. Annual fees range from $34.95 – $299.95 with transaction fees ranging from 3.50% plus $0.35 to 2.69% plus $0.25, depending on the type of account you desire. http://www.ProPay.com
RegNow RegNow is the software industry’s premier registration commerce provider. RegNow makes running a successful online shareware or software publisher business easy by putting a highly advanced platform, customizable technology and powerful resources right at your fingertips. No charge to apply but there is a one-time account activation fee of$9.95 and transaction fee is 16% with a $2.00 minimum charge. http://www.regnow.com/
RegSoft.com In business since 1998, RegSoft.com provides an easy system for users to pay for software and data licensing fees by providing a variety of payment methods. There is a one-time set-up fee of $50.00 and transactions are processed at 8.9% with a $3 minimum. http://www.regsoft.com
share-it! share-it! is used by over 30,000 Software Publishers for their e-Commerce Solution. share-it! works on a commission basis. In other words, after licensing your program, they retain a service charge of either USD/EUR* 2.95 + 5% (Pricing Model A) or 14.9% but no less than USD/EUR* 2.50 (Pricing Model B) and ) and forward the remaining amount to you. http://www.shareit.com
StormPay A very good service which has been around since 2002. Free to open an account with instant approval. Fees to receive payments are 6.9% plus 69 cents. There are no set-up or monthly fees. https://www.stormpay.com
SWREG SWREG, the oldest online software store in the world, has been in existence since 1987. All their prices include credit card processing on their merchant account. Technically, you sell to SWREG on consignment and they sell on to the end user. SWREG accepts Micro Payments for 69 cents for items to $7 in value. Default discount is $1 + 6% with a minimum fee of $1.50 (2% surcharge for American Express). This account will be charged a $20 monthly fee with the first payment to you each month made with no transmission costs (free wire for instance). Visit http://www.swreg.org/pages/pricing.htm for complete pricing information. http://www.swreg.org
YowCow YowCow is a new company that offers online processing and a 5-level deep affiliate program. No merchant account is needed and you can begin selling today with no monthly fees and a free shopping cart. Has numerous account plans available. Please visit http://www.yowcow.com/yowcow.php?module=pricing for in-depth information. http://www.yowcow.com
Other Options Worth A Look:
Cardservice International at http://www.charge-it-now.com Charge.Com at http://www.charge.com/index.shtml Credit Card Processing Services at http://www.mcvisa.com Free-Merchant.com at http://www.free-merchant.com Free Merchant Source at http://www.freemerchantsource.com e-gold at http://www.e-gold.com GreenZap at http://www.greenzap.com/default.asp IntGold at http://intgold.com Merchant Warehouse at http://www.merchantwarehouse.com Peppercoin at http://corp.peppercoin.com Total Payment Solutions at http://www.totalpaymentsolutions.com VirtualBank at http://www.virtualbank.com
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By: Drew Michael
Ignorance and lack of knowledge has a lot to do with PayPal’s growth. Many merchants are not aware of the potential problems they can encounter depending solely on PayPal for their online payment processing. That is, until they encounter potential customers that won’t use PayPal to purchase their products or services. Or worse, they have their PayPal merchant account suspended and funds frozen without notice, effectively shutting down their business.
If you really want to get some idea as to the depth of PayPal’s unpopularity, you need only to do a search on Google. Type in “PayPal Complaints” and click enter and see what happens. Over 335,000 results and still counting. No other online merchant processor comes close to having this many dissatisfied customers.
‘Phishing’ is another reason many customers and potential customers are steering clear of PayPal. Not that PayPal is doing the ‘Phishing’, but they are certainly not making a big enough effort to stop it. And why should they? They are not ‘Phishing’ and they are not losing money. Only the customer is. Virtually 100% of online ‘Phishing’ associated with merchant accounts is done using the PayPal name. And even seasoned web users are being scammed by this technique.
Customers can eliminate most, if not all, of the ‘Phishing’ associated with online purchasing by simply using a different service. It is that simple! And there are plenty of good alternatives to PayPal out there that are hungry for your business. None are as big as PayPal and few have been around as long as PayPal. But they are reputable and offer a wide variety of services. And you most likely will never receive any ‘Phishing’ messages using their names.
So make the change now, before it is too late. Our advice is to avoid PayPal if at all possible. And we also would advise you to offer two different online payment options, with at least one providing you with the ability to accept payments by check.
Following, you will find the most complete listing relating to online payment options. Brief outlines are meant only to give you an idea of what they have to offer. We would suggest taking the time to visit each site. Your customers will thank you. And you will most likely eliminate a lot of headaches in the process.
2CheckOut 2CheckOut has been offering its services since 1999. 2CheckOut charges $49.00 to open an account with transaction fees of 5.5% plus 45 cents. It does not charge an application fee nor does it impose any monthly or statement fees. http://www.2CheckOut.com
BidPay BidPay has been in business since 1999 and offers services intended for those that buy and sell at online auctions. Sellers receive payments directly to their bank or via Western Union® branded money orders. http://www.BidPay.com
BitPass No set-up or maintenance fees for self-installed product. Fees for BitPass Professional range from 15% for items priced $0.01-$5.00 up to 5% + $0.50 for items priced $5.00 and higher. BitPass provides a platform for digital content commerce that bundles authentication, payment, and access control. BitPass enables a la carte and subscription-based purchases at any price point, starting at just one cent. Digital content can be Downloads – Music files, stock photography, games, software, movies, mobile content, crafts; Website Access – Premium website content, Interactive games, subscription sites, online comics, blogs, interactive panoramic photography; Streaming Media – internet radio, concerts, webisodes, movies; and Services – premium database searches, web hosting services, webinars, premium customer support, interactive learning and testing. https://www.bitpass.com
CCNow CCNow is the perfect low cost solution to selling your products online. With CCNow, you’ll avoid the up-front expense and time required to set up e-commerce software, merchant accounts, customer service and more. CCNow is a shopping cart system that will allow you to take all major credit cards without the need of a merchant account. http://www.CCNow.com
ClickBank If you have a unique product or service to sell, and it is deliverable over the Internet itself (via web pages, files, or email) then ClickBank is for you. They have 100,000 affiliates ready to promote your product. There is a one-time set-up fee of $50.00. Transactions are $1.00 plus 7.5%. http://www.ClickBank.com
DigiBuy Using DigiBuy’s ecommerce service, you can quickly and inexpensively build a secure shopping cart to merchandise your products, take orders online, process payments, and distribute digital products over the Internet. Transaction fee is 13.9% with a $3.00 minimum. http://www.DigiBuy.com
Ibill In business since 2002, Ibill is perfect for merchants that sell services and subscriptions. Merchants can accept payments online by credit card, check, and phone. Has numerous fee schedules but the most common is for businesses that sell up to $9,999.00 in a billing cycle. That charge is 15.19%. http://www.ibill.com
Ikobo This is a money transfer service that has been providing services since 2001. No application fee or set-up fees and transaction fees range from $1.99 – $2.99 plus 29 cents. Payments that are received are deposited to your Ikobo Visa Debit Card or your bank account. http://www.IKobo.com
Moneybookers Ltd. Moneybookers enables any business or consumer with an email address to securely and cost-effectively send and receive payments online – in real-time! Moneybookers delivers a product ideally suited for small businesses, online merchants, individuals and others currently underserved by traditional payment mechanisms. Does not charge for set-up or applying and has no monthly fee. Transaction fees range from 2% – 8%, depending on how payments are made. http://moneybookers.com
MonPay Monpay has been doing business since 2003. With it, you can sell products and services on web sites, auctions, and even by email. It does not charge for set-up or applying and has no monthly or hidden fees. Transaction fees for checks or credit cards are 2.95% plus 55 cents. http://www.monpay.com/
PayMate Claims it is the fastest and safest global trading service on the Internet. It has no set-up fees, gateway fees, etc. Has a very high User Satisfaction and continues to add new improvements on a regular basis. Transaction fees for credit card payments are charged at 2.4%. Please visit their web site for more information on transaction fees. http://www.paymate.com.au
PaySat With PaySat you can sell your products/services Online and enjoy such features as: International Merchants Accepted; Instant Application Approval; Product and Recurring Billing; Easy To Use Plug-N-Play Code; Flat Low Rates; No Set-up Fee; Multi domain/brand support; and Intelligent Fraud Detection System. PaySat is only in its 2nd year of operation but has a pretty good reputation. Transaction fees are 5.3% plus 39 cents. http://www.paysat.com
Paystone Great service that started in 2002. Free to open an account with instant approval. Fees to receive payments range from 2.8% + $0.10 for micropayments to 2.8% + $0.30 for transactions over $5.00. There are no set-up or monthly fees. http://www.paystone.com
PaySystems PaySystems Internet Merchant Account Solution is designed to meet the specific needs of Internet and mail/telephone order merchants. Available for U.S. and European-based businesses, the PaySystems Internet Merchant Account Solution allows merchants to expand their payment options, increase sales and focus their management efforts on growing their business. PaySystems has no application fees and no merchant account set-up fees. Offers highly competitive rates on transaction fees but you must contact them using their online form at http://eforms.paysystems.com/ps/info/ for more information. http://www.paysystems.com
ProPay USA With ProPay, merchants can accept payments by credit card on the Internet and by phone. There is no expensive equipment, no statement / gateway fees and no long term contracts to use their service. Annual fees range from $34.95 – $299.95 with transaction fees ranging from 3.50% plus $0.35 to 2.69% plus $0.25, depending on the type of account you desire. http://www.ProPay.com
RegNow RegNow is the software industry’s premier registration commerce provider. RegNow makes running a successful online shareware or software publisher business easy by putting a highly advanced platform, customizable technology and powerful resources right at your fingertips. No charge to apply but there is a one-time account activation fee of$9.95 and transaction fee is 16% with a $2.00 minimum charge. http://www.regnow.com/
RegSoft.com In business since 1998, RegSoft.com provides an easy system for users to pay for software and data licensing fees by providing a variety of payment methods. There is a one-time set-up fee of $50.00 and transactions are processed at 8.9% with a $3 minimum. http://www.regsoft.com
share-it! share-it! is used by over 30,000 Software Publishers for their e-Commerce Solution. share-it! works on a commission basis. In other words, after licensing your program, they retain a service charge of either USD/EUR* 2.95 + 5% (Pricing Model A) or 14.9% but no less than USD/EUR* 2.50 (Pricing Model B) and ) and forward the remaining amount to you. http://www.shareit.com
StormPay A very good service which has been around since 2002. Free to open an account with instant approval. Fees to receive payments are 6.9% plus 69 cents. There are no set-up or monthly fees. https://www.stormpay.com
SWREG SWREG, the oldest online software store in the world, has been in existence since 1987. All their prices include credit card processing on their merchant account. Technically, you sell to SWREG on consignment and they sell on to the end user. SWREG accepts Micro Payments for 69 cents for items to $7 in value. Default discount is $1 + 6% with a minimum fee of $1.50 (2% surcharge for American Express). This account will be charged a $20 monthly fee with the first payment to you each month made with no transmission costs (free wire for instance). Visit http://www.swreg.org/pages/pricing.htm for complete pricing information. http://www.swreg.org
YowCow YowCow is a new company that offers online processing and a 5-level deep affiliate program. No merchant account is needed and you can begin selling today with no monthly fees and a free shopping cart. Has numerous account plans available. Please visit http://www.yowcow.com/yowcow.php?module=pricing for in-depth information. http://www.yowcow.com
Other Options Worth A Look:
Cardservice International at http://www.charge-it-now.com Charge.Com at http://www.charge.com/index.shtml Credit Card Processing Services at http://www.mcvisa.com Free-Merchant.com at http://www.free-merchant.com Free Merchant Source at http://www.freemerchantsource.com e-gold at http://www.e-gold.com GreenZap at http://www.greenzap.com/default.asp IntGold at http://intgold.com Merchant Warehouse at http://www.merchantwarehouse.com Peppercoin at http://corp.peppercoin.com Total Payment Solutions at http://www.totalpaymentsolutions.com VirtualBank at http://www.virtualbank.com
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By: Drew Michael
Sep
16
Filed Under (Trading USD-EUR) by admin
Historically, central banks of just about every country, used to hold gold as national reserves, or some kind of last resort source of funding. That also was a storage of country’s wealth. To some degree it’s still true, but is not practical on a large scale. The role of gold has declined since the gold standard was abandoned 30 some years ago by most economies.
These days a lot of countries, apart from smaller gold positions, also hold Foreign currencies as part of national reserves. This mainly applies to currencies used in international trade. Mainly USD, EUR, JPY and to a smaller degree GBP, CAD and AUD. Strategic commodities are usually priced in one of these currencies and they are also most accepted form of payments and conversions in international banking.
There are two groups of countries that accumulate a surplus of foreign currencies. China, Japan and India, manufacture and export more finished goods than they import.
Second group comprises of producers of raw commodities like oil and metals. Russia and Saudi Arabia are the most prominent beneficiaries of those.
How much money are we talking about? Publicly available figures vary widely and are not necessarily precise, but both Japan and China hold in the neighborhood of 1 Trillion dollars of foreign currencies, while India and Russia’s hold about 500 Billions each. Other countries have smaller amounts.
Historically most of reserves have been held in US Dollars, or more correctly, US bonds and notes denominated in USD. As the amounts involved grow, it is only natural that the central banks responsible for their management diversify the funds. Every now and then there are announcements coming from official sources that a respective country plans to move certain percentage of the money involved into another currency.
That diversification process is not done overnight, but rather over a course of weeks and months. Perhaps even years. It is not in the interest of anybody involved to create wild swings in exchange rate by sudden conversions of huge amounts of money from one currency into another. Nonetheless, these moves definitely have an impact on Forex market.
Almost certainly current EUR-USD bull market is aided by steady and systematic diversification of “Foreign reserves” by central banks. EUR has proven, so far, to be a viable alternative to USD as a holding instrument. That said, USD is still, and by far,
the most prominent currency in those holdings and is likely to remain a first choice for the foreseeable future.
Official policy announcements from various central banks absolutely demand attention. Buying power behind the staggering amounts involved can not be overstated. What is, however, largely overlooked, is the staying power of these markets participants. They are not interested in quick trades, but rather remaining in a position for a long time. Months and years.
There is a new twist to this orderly, and somewhat predictable, market participation. China has just launched a 200 Billion dollars “super Forex fund”. That is a large chunk of their reserves. This fund is supposed to be more actively managed than a traditional central bank’s holdings. The exact trading formula of this fund is has not been disclosed, so it remains to be seen just how active it is going to be.
Should this new fund set a precedent for more entities of this kind, “Foreign reserves” will become even more important part of news to follow. More money available for active trading means more volatility and more short term movements. For traders of all stripes that is not bad news- more opportunities ahead.
By: Mike P. Kulej
Sep
09
Filed Under (Trading USD-EUR) by admin
For all those who are looking to venture into forex trade, one thing is for sure that currency trade is a highly volatile business that can be unpredictable at time. This unpredictability can mar your trading prospects in stock exchange in case you are not equipped with professional information about stock exchange and its proceedings. For all those who wish to learn the ropes of forex trade, it is essential to get the best information about forex trading system so as to be well versed with currency trading and maximize the profits.
For amateurs and as well as professionals, Connection2Forex is an online trading portal that provides quality forex alerts trading signals to impart genuine currency trading strategy. At Connection2Forex, one gets the best day trading signals without intraday monitor. With Connection2Forex, one hardly requires to install any software. To provide the best forex trading strategy, Connection2Forex provides two groups of currency pairs such as USD/EUR and USD/GBP for days and at night one gets Jpy/GBP and Jpy/USD. This helps both the European and Asian economic regions.
In case you are looking for accurate market analysis and prediction, Connection2Forex has a non conventional program that helps in providing the latest and update news so as to maximize the profit and reducing the risk that is often involved with investments. Forex signal offer safest levels so as to keep you at safe from market volatility.
Connection2Forex is based on genuine mechanical trading algorithms where both price action and volatility are combined so as to give the best result. As a day time trading system, Connection2Forex opens and closes on the same day while trading on both long and short position. As an online portal, Connection2Forex helps you in availing the accurate market details and making the best of investments without losing investments.
Connection2Forex helps you in learning the changing trends of stock market and learning forex signal trade in an easy way. So, in case you are planning to check out some serious forex trading tips, Connection2Forex provides the best currency trading tips and techniques that will help you in minimizing your losses and providing high cash gains.
Whine investing in the stock exchange make sure you are dealing with risk funds where the loss will not have any adverse effect on your finances. For more information about Connection2Forex, log on to www.Connection2forex.com and avail the best investment strategies at stock exchange.
Tags-: forex trading strategy, forex, forex strategy system, forex signal, forex alerts, currency trading, Forex trading signal
By: Maco
For amateurs and as well as professionals, Connection2Forex is an online trading portal that provides quality forex alerts trading signals to impart genuine currency trading strategy. At Connection2Forex, one gets the best day trading signals without intraday monitor. With Connection2Forex, one hardly requires to install any software. To provide the best forex trading strategy, Connection2Forex provides two groups of currency pairs such as USD/EUR and USD/GBP for days and at night one gets Jpy/GBP and Jpy/USD. This helps both the European and Asian economic regions.
In case you are looking for accurate market analysis and prediction, Connection2Forex has a non conventional program that helps in providing the latest and update news so as to maximize the profit and reducing the risk that is often involved with investments. Forex signal offer safest levels so as to keep you at safe from market volatility.
Connection2Forex is based on genuine mechanical trading algorithms where both price action and volatility are combined so as to give the best result. As a day time trading system, Connection2Forex opens and closes on the same day while trading on both long and short position. As an online portal, Connection2Forex helps you in availing the accurate market details and making the best of investments without losing investments.
Connection2Forex helps you in learning the changing trends of stock market and learning forex signal trade in an easy way. So, in case you are planning to check out some serious forex trading tips, Connection2Forex provides the best currency trading tips and techniques that will help you in minimizing your losses and providing high cash gains.
Whine investing in the stock exchange make sure you are dealing with risk funds where the loss will not have any adverse effect on your finances. For more information about Connection2Forex, log on to www.Connection2forex.com and avail the best investment strategies at stock exchange.
Tags-: forex trading strategy, forex, forex strategy system, forex signal, forex alerts, currency trading, Forex trading signal
By: Maco
