I am looking for an online forex trader that will let me trade the chinese yuan (CNY), but I've found that they don't seem to list what currencies you can trade through them. Does anybody know how I can find out (via the web) what currencies a forex broker trades? Ideally, I want to find one that trades the major currencies in addition to at least the chinese yuan, and has high leverage (200:1 or 400:1).

Oanda allows you to trade a number of what they call "exotic" currencies including the USD/CNY. The last time I checked though the spread was fairly high.

Good luck.

Paul Upp

I traded options, currency, and foreign stocks last year for the first time. Used TaxCut in the past with success. Can I import data automatically from Scottrade and Interactive Broker?

GainsKeeper is simply the best. They keep track of your trades directly from your broker. and also keep track of short term vs. long term vs wash sales. It's fantastic.

I'd be lost without it!

Need some help to choose a good forex trading system. Suggest a site with good forex reviews on forex trading system, forex trading software or forex robot.

There are many forex trading systems available online. To choose a good forex trading system, forex trading software or forex robot is little difficult. However, refer the below links for a better forex reviews site.

Forex Trading Systems Reviews:

http://www.fxtd.in

You may also refer…
Forex Broker Reviews and Comparisons:

http://online-fx-trading.net/forex-reviews

.)

Hi

I use IG index but have found their spread to be expensive, are there any brokers out there that are cheaper for day trading the Forex and eminis russell 2000 and other index’s?

kind regards

David

Hi David,

The brokerage business is highly competitive and rates are usually subject to negotiation. Unfortunately there are no shortcuts. Use the internet and search for “Futures Broker” or “Forex broker” and compare the prices of 10 brokers. This will give you a feeling for the lower prices possible.

When comparing prices, make sure that they are “all inclusive”, i.e. inclusing exchange and NFA/SEC fees and any other fees that might apply. Sometimes brokers lure you in with “Trade the e-minis for $0.50″ and then you will see that they add all kinds of fees and you end up paying $5 – $6 per round turn.

When trading futures, you can expect to pay $4 – $5 per round turn with a discount broker and $5 – $8 if you need some service. Full service brokers usually charge $10 – $15 per round turn.

Right now you might consider trading the e-mini S&P Midcap. The CME Group and Infinity Futures Brokerage run a promotion until the end of the year: You can trade this contract for $1.50 per round turn ALL INCLUSIVE. I think that’s a heck of a deal.

The e-mini Midcap (Symbol EMD) is comparable to the e-mini Russell (ER).

Regarding Forex: I don’t trade Forex at all. I prefer trading the currencies as futures contracts at the CME. This has there advantages:

1.) Lower spread. The spread is usually 1 tick and not 2-5 pips.
2.) Better leverage: 1 tick in the futures is worth $12.50 and not $10 like in the forex. That’s 25% more!
3.) It’s regulated, and you are trading against other traders and NOT against the house.

Hope that helps.

Markus

PS: Below is the link for the EMD promo I talked about.

Malaysia got alot of company teaching FOREX course but the response from the course is poor, some more got company tecahing FOREX by buying software, I feel very confusing with so many options. I am eagle to learn and earn extra income from FOREX Trading cause is my hobby and my vision become full time Forex trader, but till now I cant very find reliable and professional comapny or mentors who can teach or share with me about FOREX Trading like: FOREX Tool- Chart, FOREX Platform and so on. Lastlly, I hope anyone know about forex can be contact me so I can fullfill my dream. Thank you.

If you can't find a good course to follow where you live, look for an online course. Start from there. Get some good books to read.

I believe a lot in practice and the demo account is the most important as it lets you try it out without risking your money. To do that, you may have to open an account with a forex broker and then download the software to do the paper trades.

Don't let anyone push you into trading when you are not ready. a lot of people have lost money this way.

In order to do technical analysis for day trading I want to have web site that provides real time charts and host of technical indicators to work on. BSE & NSE are not of much use and Yahoo Finance is late by 20 minutes and therfore not of any value for day traders. I dont mind paying if there is no free site but even after payment if I am linked to yahoo finance it is of no use. I am operating from India. I am sure some knowledgable Indian brother trader or investor or professional can understand my problem and help me out.If possible give me the indicators you are working with for intraday trading only. I intend working only in stocks for the time being and not in futures or derivatives or forex or commodities.
Many thanks in anticipation.

go to : www.investopedia.com

About a year ago, I invested couple thousands of dollars in forex market. I have more lose than gain. Overall, I've gained around $7000.00 (my loss is higher than this value). My question is what would the tax rate for this capital gain be for this kind of situation. My regular income is less than $20,0000

This is a CPA question. It depends upon the contract you entered into, whether they were spot, bank accounts, bonds, futures and/or options. In some cases the law requires marking to market whether gains are realized or not. You need to speak with a CPA before the close of the year so that you can elect the proper choices within the tax year itself.

I want to buy it but I hope to heard from anyone who has tested it out. There’s so much hype on this Forex Loophole as an automated forex software. http://ForexLoophole.info

I started as a part time forex trader but now I’ve stopped my job in the bank and I’m semi retired with only forex trading. I was trained in the old school of forex trading under my mentor so initially I was very skeptical about all these new software.

I have tried at least 6 types in the last 6 months and I must say that they do help in forex trading but if it is a totally new comer, it would be not as easy as they claim. Forex Assassin which is produced by the same people as Forex Loophole had some good results for me, both on paper and in real trades.

The fact that they are under $100 should be a welcome thing as I remembered I used to pay a lot for simple charting software that did nothing as complicated. Of course it would be good if they go down to say $40 so that we can try more types.