What is the best software for forex automated trading out there?
There is a really good software for forex trading called MBFX. You can get it at http://vipoptions.info/mbfx
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Currently I dabble in stocks and forex and enjoy trading. I am looking to get into options trading and need a good broker with a nice platform that has a fairly easy learning curve, but still leaves some fun stuff for the advanced user. I am looking for a broker that offers commodities such as gold, silver, platinum. If they offer stocks as well it would be nice, but not necessary.
ThinkOrSwim
Platform is easier than most without being too simple. The tools are extraordinary.
Advanced users rarely "dabble". Good luck. Options can have a steep learning curve.
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There are many courses with many claims, how does one pick the ne best for me?
I would say that nothing can be termed as best course. The trading consists of the following:
1) Understanding of the fundamentals – The broader and overall picture.
2) Understanding of technical analysis – Where to enter and where to exit.
3) Trading psychology and discipline.
In fact most of the times the third point proves to be the most crucial, which can make you or break you. The concepts of the analysis and indicators would remain same in all the training material and what would change is the depth and presentation. There are no thumb rules which can make you succeed because there can’t be. You need to study various material, burn your fingers a few times, learn and unlearn and learn again ana that is the ONLY best course to learn.
For the above mentioned 3 points, you may refer:
Fundamental:http://www.forexabode.com/fundamental-analysis
Technical: http://www.forexabode.com/technical-analysis
Psychology: http://www.forexabode.com/trading-psychology
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Ok, here is the thing.
I am willing to get a managed account with a forex company.
I asked for the ”LPOA”.
1)What are the things that should be stated in there? Is there sth in the contract that could be a trap or bring a financial debt or i should avoid(margin calls, open and close position limits etc..)? What should the contract state to be considered safe?
2)What should i ask from the broker (i think im using IHforex) to be sure that i can withdraw my earning whenever i want without any hassles?
Sorry if i”m asking silly questions..
PLEASE PLASE no FOREX ADVERTISEMENTS.I DONT WANT TO SIGN UP TO YOUR WEBSITE AND I DONT WANT YOUR CHARTS.ONLY answers regarding the issue.
thank u
GEorge
George, get the standard LPOA letter which IHforex uses for their accounts and study its provisions. However, chances are that if you do not sign it "as is", but rather ask for any changes to be made therein, that the company has no interest in opening an account for you, unless you deposit over a million.
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I’m speculating more and more with forex and currency trading and have been trying out the Demos on a few different sites. I’ve come across a few gems but mostly I’m not satisfied with what I’ve found and in some cases relatively disappointed.
It might sound like a lot to ask but does anyone have any ideas for brokers that offer the following four features, or at least three out of four…(I will be starting with a few mini and small deposit accounts with around 10 different firms and then judge the best to follow through with.)
#1 Diversified trading opportunities ~ offering currency pairs, indices, options, futures and a large selection of major stocks. (Its very important to me to be able to operate on all my positions from a single platform or broker. Its confusing and and a hassle to switch between different programs, and can result some extremely costly mishaps with your margin when your funds are split up.)
#2 Decent leverage on both forex and shares.
#3 Reasonable spreads, this means absolutely no more than 2.5 pips on the EURUSD(Unless the broker is outstanding in the other three areas).
#4 Web platform as well as application. When traveling I’m on my macbook air which is incompatible with MT4 and most application platforms and doesn’t pack enough power to run parrells smoothly.
I’m really looking forward to hearing your ideas and Ill provide some feedback after I try them out.
Thanks in advance!
Download NinjaTrader for a free trial and check it out. I’ve been using it for years and it’s a great platform with a simulator and back-testing and programmable with lots of add-ins and additional indicators and strategies available through the forum.
I trade the forex futures through AmpTrading and Ninjatrader. I trade the spot forex also on a different machine, but I get better fills and better commissions and spreads with futures, and the margin rates are only $500 for forex and stock index futures. The futures are regulated by the SEC, whereas the cash market is run by the banks, so there are less shenanigans with forex futures; things are more as you would expect, fewer surprises.
http://www.ampfutures.com/index.php
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I am 28 yrs.old,from imphal.today i like to know more about in trading.Recenty i opened a demo account in one of the leading company hantecfx.com.but after opening a demo account,what next?in this they shown me a graph but i don’t know what this thing is and how it used?after investment what cud be my next step and how it be used?plz.explain me clearly.
To be honest what you mentioned suggests that you think that Forex may be a way to make money overnight. It is not. Forex trading is a business and needs to be treated as a business. And any business needs in-depth understanding of the concepts, pros and cons. Don’t jump into it and I would even say don’t even jump iinto it with even a demo account. Demo accounts can be two way swords. Early success and early failure may taint our decision makings when we are faced with the real thing with real money. The reason is simple that during demo, we do not face one of the most important aspects of trading and that is psychological aspect. Study, study and study first. read a lot.
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Please expalin simply how to use the Forex? I’m a beginner in using the currency exchange on the internet.
Ca you help me find a way to understand the fibonanci indicators? and how to find a free online book to learn the forex?
Well I would start with babypips.com if you want to learn the basics.
Then, if I was just starting out, I would follow some professional traders (aka Signal Providers). The largest site out there which ranks the top 8000 or so forex strategies is http://comefollowme.zulutrade.com/Performance.aspx
You basically just go there, and click "Add to Portfolio" on any strategy you like. They have historical graphs and user comments and ratings on most of them. Also, backtests are not allowed, and editing / deleting bad trades from historical performance graphs is not allowed, which is great.
Form there you will either set up a demo account (totally free) or a live account (requires money) to trade with. I would start with a demo, and do it for at least two months in a row with profit, before going with real money. That’s for your safety. Be sure your demo account starts out with approximately how much money you plan to start out with in your real account, so you get a "more accurate" estimation of how well you would do with the amount of money you plan to trade with.
If you decide to skip all of this and NOT go with Signal Providers, and you’d rather spend the next 10 years pulling your hair out, then that’s fine, go right ahead. (Forex trading is REALLY hard to master). But in that case, at least get MetaTrader4, because it’s the best trading platform program out there. You’ll want to learn to program in the MetaQuotes4 programming language, though, to get the full benefit of using MetaTrader4.
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So I am thinking if it’s a good business idea to develop and shop to banks/casinos/governments a software system that:
* Authenticates users based on voice/face biometrics.
* The face recognition will be used as an additional layer of security – people will still
use usual password/username + challenge question.
The idea is the bio recognition to substitute traditional ‘hardcore’ measures that have
some known flaws (token can be lost/damaged/sniffed), TAC can be captured/"shouldersurffed".
In addition I will develop other features, such as;
* Virtual keyboard (most US banks do not use virtual keyboard, let alone forex, casino
websites)
* Challenge question that it’s harder to guess (not like mother maiden name or your college,
but rather – favourite hobby, city you spend your honeymoon in, etc.).
* Sophisticated alerts – when a user logs in from a new ip or when the ssl uses weak
encryption or when user changes contact information – the admin + user will receive
email/sms.
* Password + username will be stored in sha512 + salt to greatly decrease decryption.
*.net used against BF, tested vs xss, stored procedure against sql inj., etc. etc.
So anyway – do you think anyone will be interested?? Or rich webowners will simply decide to
pay some skilled indian guy $500 to develop such system whenever they need it? ALso what
price if any will be OK – $500, $5000?
10x for readin!
Well it is being done but if you’ve ever done any work in artificial intelligence you would realize how incredibly difficult face recognition is and how easily subverted it would be. It would be easier and more reliable to identify people by RF signature consisting of the RFID’s in your credit cards, in your money, the RFID’s left by the store in your shoes, your clothes and by the bluetooth of your cell phone (sort’ve of a Space 1999 commlock authentication system). The recognition by cell phone blue tooth pairing has already been done too. The leftover RFID has probably been done but being kept and used secretly. The virtual sessions that follows the user around was the AT&T thin client project in the mid 90′s that produced VNC and Sun expanded to their blade products using a SIM like card to identify the user, Sun actually decentralized their offices to satellite offices and hotel’d workstations with that technology but not very many customers bought into their total work environment makeover concept.
On Star Trek The Next Generation, you would often see La Forge step onto the bridge, walk up to the engineering session and say "Computer, transfer session from Engineering.". That was inspired by the session following ability of VNC developed for the AT&T thin client project. VNC is widely used with Linux. Basically you’re twenty years late on the advantages of ubiquitous computing and about twenty years early on the sophistication of artificial intelligence.
In other words, been done, flopped commercially and you’ll have to fight Oracle for the patent rights. It’ll be a few more years before they can get the costs down and integrated.
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I downloaded some demo programs to start learning how to trade forex,but I look at it and get a migraine. I know nothing about forex trading or anything like it,but i am interested in getting into it,however I want to learn through a program and get some practice before getting into live trading.
Are there any demo programs or free online courses to explain to me how it works and how the programs work?
You may approach Institute of Bankers, London, they may conduct courses on Forex Trading.
Forex Trading involves buying and selling of different country currencies, Forward dealings, handling Imports and Exports etc. The currency dealing requires good perception of mind with ability to decide quickly. After theoretical knowledge a good training is essential.
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I meet a guy at a party who said that’s what he did for a living.
Is it really possible for an individual to trade currencies. How can you compete with the institutions? What software would you use. What type of software do the institutions use?
This sounds really made up. Where can I learn more about trading Currencies?
There are millions of people around the world that make a living from trading the Forex. All you need to do is to get trained on how to do it. When you do, all your questions that you asked will have clear answers.
You should try www.londonstonetrading-fxsuccess.com. They train people worldwide and set them up with software, instant chat room, mentors etc. Also, if you decide it’s not for you, they offer all your money back. Pretty good. Good luck.
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