Exploding Now :: Forex School, Trends, Signals

World Finance Award for Most Innovative Trading Platform

Exploding Now — Thu, 09 Dec 2010 20:30:36 +0000

eToro Snags a World Finance Award for Most Innovative Trading Platform 2010

The eToro platform, already a trader favorite, has now received a nod of appreciation from the financial trading industry as a winner of one of World Finance’s prestigious annual awards.

eToro‘s innovative approach to financial trading has been making waves for quite some time now among traders worldwide. The platform’s user friendly graphic interfaces and wide range of ground breaking community tools have captured the attentions of novices and experts alike, who now take part in eToro’s vibrant and active social trading network. With its open and daring approach, eToro has now managed to not only become one of the most popular trading platforms online, but to also receive a seal of approval from an already established financial institution.

“Our vision is to become the first global market place for everyone to trade and invest their funds in a simple and transparent way”, said eToro CEO, Johnathan Assia. “eToro already transformed the way people trade today, and we thank our community of over a million traders for helping us win this award that recognizes eToro’s achievements in the financial trading arena”

World Finance magazine launched its annual World Finance Awards in 2007 with the goal of identifying industry leaders that represent the benchmark of achievement and best practice in the financial and business world. To determine the winners, World Finance magazine used an independent panel of judges headed up by Editor Alexander Redcliffe. The Panel followed up on the countless nominations, suggestions and contributions of World Finance readers to explore and analyze new trends in order to unearth the best and the brightest pioneers in the FX marketplace.

“We couldn’t be more thrilled and honored to win this particular award,” said Assia. “To know that our platform was nominated and then chosen out of the hundreds of nominations is a sign that we must be doing something right. It is especially rewarding to know that our push towards innovation, which has been one of eToro’s core values from the start, hasn’t gone unnoticed. The challenge now is to keep innovating so we can have a shot at next year’s award as well!”

As for eToro’s community, they will certainly be thrilled to know that their platform of choice is leading the way in cutting edge trading technologies, and intends to continue to do so for years to come.

Open a free trading account with eToro to explore the benefits of financial trading.

Steps Required for Becoming a Successful Forex Trader

Exploding Now — Tue, 07 Dec 2010 20:26:01 +0000

Foreign exchange market is on the rise and one can notice this by the revenue generated in this field. Many factors play a vital part in foreign exchange market, but there are some prominent ones such as capital, discipline, money management and method. These factors play vital role in making of a successful trader. Singapore forex trading market involves lots of risks, so becoming a successful trader can turn out to be very tough task for everyone.

Initially, you need to learn how to trade in forex, as this may be a source for you to excel in the forex market. In order to garner knowledge of this field, you need to take assistance of experts, forex trade signals and software. Id you are trading in Singapore forex market, then it is essential for you to decide the type of trading well in advance, as this may be beneficial in longer run. Once you finalize the mode, make sure to stick by it, as any further changes may lead you to utterly confusing and risky state.

Proper money management plays a vital role in the making of a successful trader, so you need to invest sensibly. By investing sensibly, you can avoid risks at large and make successful returns out of your investment. The best way to avoid is to stop placing orders once you notice loss. Do not try to recover the lost money, as this can land you into deep trouble. Additionally, you need to understand the swings and turns of the forex market, as certain places in Singapore are in a flip-flop state such as Chinatown and Santosa, so you need to research the market properly and understand fluctuations as per different terms.

You need to remember that in order to become a successful trader in the forex market, you have to make money on regular basis out of your returns. Even if high capital, you need not be overconfident, as the market is ever changing and millions of money may vanish in a flick of seconds, so be attentive at all times. Forex market allows movement from one currency to another. For instance, you have been investing USD for some time, but if you feel that SGD can offer better returns, then do not hesitate to take the step. In this manner, continue your stride towards becoming a successful forex trader.

Forex Trading by Forex Trading Software

Exploding Now — Tue, 07 Dec 2010 20:22:14 +0000

Over the years, Singaporean investors involved in forex market use different options in order to minimize losses. The advent of forex trading software has been capable of revolutionalizing the forex market, as people now have something on which they can rely and trust. Such software may resemble a robot and this is what people call them, a forex robot. It is obvious that forex market is full of risks and thus, you need to be careful.

Forex trading software plays a vital role in minimizing the job of traders, as it specifies where to invest and where not to. There are innumerable benefits of this software.

No Requirement of Commissions: Generally, investors in Singapore trading market have to pay commissions on regular basis, but in case of forex trading software, one need not pay any sort of commission in the form of brokerage or clearance to anyone.

No Involvement of Middlemen: The best part of forex trading is that there are no intermediaries, which indicates that by the use of this software, you can deal with brokers using an online method of exchange.

Better Liquidity: Most of the experts opine that the greater amount of flexibility in the market, greater is the possibility of returns. Forex traders in Singaporean cities such as Geyland and Katong work extremely hard in order to generate profits out of their investments, so better liquidity is a boon for these investors.

It Makes Use of High Leverage: Forex brokers allow traders to use very high amount leverage, but its excessive usage can result in huge losses, so traders do not deal much in them. However, the presence of forex trading software changes the scenario of the market, as people can now invest in Singapore forex trading market without any fear of loss. If you use this software judiciously, then you can expect maximum returns with least risks.

Online Access: The best part of using this software is that you can trade from the comforts of your house without any hassles. You just need to learn how to trade forex and leave the rest of things on this software.

User-Friendly: This is another prominent feature of this software. While using this software, it is certain that you may not go through any nerve-wrecking situations, as this software is user-friendly. With this software, you need not search on different search engines by writing, forex for beginners.

Importance of Forex Trading Charts in Forex Market

Exploding Now — Tue, 07 Dec 2010 20:18:55 +0000

We are all aware regarding the amount of risk involved in the forex market, so we take different steps in order to minimize the possibility of losses. Some people take the assistance of experts, while others make use of forex trading signals to get an overview of the market. Such measures can greatly wave off the possible losses and turn the tide in your favor. In recent times, forex traders of Singapore have been constantly using forex trading charts for anticipating the prospective currencies available in the forex market.

Singapore forex trading like any other market functions on the lines of maximum risks resulting to decent returns, but at the same time, if one uses these charts, then there is a possibility of minimizing risks. It is essential for you to understand that such safety measures are for your benefits, so you need to make use of them and get the best results from the market.

Forex trading charts predict the future expectations from the market. The basis of these charts is previous trading sessions of the market and their results. You can utilize forex trading charts and invest without any hesitations in Singapore forex trading market. In this manner, you can take rational decisions and avoid taking wrong trading decisions, which may result in losses. Everything may be in your favor, provided you possess the art of interpreting future results of the market from these charts.

Before getting in Singapore forex trading, you need to learn how to trade forex and then you need to make investments in this market. You can take these charts as a source of assistance, but they are not something, which you can rely on heavily. The fact of the matter is that forex market revolves around various factors and forex trading charts do not consider all those factors while determining the overview of the future of the market.

Some of the factors, which play a pivotal role in forex markets, are current economic scenario of a country, untoward happenings, political changes and decisions of the ruling government. This is the reason one has to perform a survey of the market voluntarily even after going through these charts, as charts can go wrong, but the possibility of a market going wrong is bleak. Singapore traders from cities such as Chinatown and Santosa actively use these signals and charts in order to avoid risks of forex market. Forex for beginners can be tough, but such things can make their task easier.

Usage of Forex Trading Signals for Investing in Forex Market

Exploding Now — Tue, 07 Dec 2010 20:14:47 +0000

In recent times, there has been a considerable amount of increase in the people showing interest in the field of forex trading and we can attribute this fact to the increasing returns that one gets in this market. If you live in Singapore and are craving to make some quick money out of a business, then it is high time, you need to jump into the Singapore forex trading, as it promises to be one of the most revenue generating trades of the world.

Forex trading has become a serious business in Singapore and people now understand its potential. However, since lots of money is on stake, so it is advisable to take advice from experts before investing in forex market. These experts have thorough knowledge of the market, so they can easily be a helping hand for a novice in this field.

A novice can take the assistance of software meant for trading, which plays the role of trading counselors. For a novice involved in Singapore forex market, everything, which goes around him, is nothing less than a nightmare. They are not able to get a hold of trading signals, as they do not have the required experience. The best way you can get a grasp of the market is by surveying it. Such a survey may assist you in understanding different types of signals in the forex market and their importance. Experts term signals given by automated forex trading system as a forex trading signals.

There is usage of algorithms for determining forex-trading signals. Most of the traders in the Singapore rely on this algorithm. In most of the cases, they are accurate, but you need not trust on them blindly. Beginners can learn how to trade in forex by the assistance of these signals.

One can make quick judgments through these signals. Not only people in Singapore, but also investors in other parts of the world are apprehensive while using it, as lots of money is on stake and they can risk it just by depending on these signals. The best possible way is the self-research of the forex market, as this can give you first hand experience of the market. Taking the assistance of forex trading software is a good idea, as it is a reliable trading automation and one can have faith on it.

You need to understand all the pros and cons before making use of signals and software, as they cannot only make you richer, but also poorer by a greater margin.

Tools of Forex Trading

Exploding Now — Tue, 07 Dec 2010 20:09:40 +0000

For a forex trader it is very important to learn the tools of the trade. This is so because in the absence of this knowledge, the trader is like an unarmed soldier, amidst enemies, that have better and more sophisticated weapons. Forex as such is the most volatile of the financial markets and therefore it is very important to understand and trade in forex. Risk is an inherent feature of trading and this applies to forex trading as well.

Hence, those that are new to forex and are learning the tools of forex trading must give importance to these tools:

Know the jargon: beginners can be intimidated by the language and jargon used by more experienced traders and market players. Therefore, it is important that as a forex trader, one should be aware of the terms and jargon associated with forex trading.

Fundamental analysis: this tool emphasizes on the usage of the current news regarding political, economic and any other changes, which occur around the world and which have the capability to affect the market. Traders should therefore be abreast with the current happenings and read forex news.

Technical analysis: traders use different techniques and strategies to improve their odds of succeeding with forex trading. In this regard, they use the currency charts, which give an analysis of the performance of the currency in the past and based on this knowledge they predict the activity of the currency in the future. Hence, technical analysis forms an important aspect of forex trading.

Practice your trades: ‘practice makes a man perfect’. This tool is especially applicable for the beginners. It is a good idea to hone your skills at any of the demo accounts provided by the many online trading platforms. These demo accounts help in the practice of strategies and techniques without the worry of losing money.

Risk is inherent: as mentioned, risk is associated with forex trading. Therefore, a forex trader should first study, research and then decide whether forex trading is for him or not. A trader should know his capacity to lose money and accordingly plan his moves. Moreover, forex trading should not be treated as gambling but as an investment vehicle.

The first thing for a trader, who wishes to learn forex trading, is to understand that though forex trading is a highly profitable venture, it is not suitable to all. Therefore, he must first analyze his risk bearing capability and then venture into this field.

Advanced Forex Trading Strategies

Exploding Now — Tue, 07 Dec 2010 20:05:29 +0000

Forex trading, as we know is a complicated process, which is not suited for all type of traders. There are complexities involved, which make it difficult for beginners to understand and trade forex. Therefore, a number of strategies, which can be used by beginners, are explained on various forums and websites. Here we discuss the advanced strategies, which the advanced or the experienced traders use in order to make money with forex. Though there are many advanced strategies, here we discuss only a few.

Trend line trading strategy

As the name suggests, this strategy is based on the theory of following the trend. As a trader, you must be able to spot a main trend and follow it. Though there are times, when a trader may go against the trend, but that is a separate issue. For this strategy, the timeframe should be 30 minutes, 1 hour, 4 hours and daily. You should look for the main trend in the chosen period and place a stop order to sell, 5 pips below the point where the lowest point of the candle intersects or touches the candle. The stop loss can be placed above the recent swing high. The profit target should be placed within the previous swing low level. This is the short entry rule with this strategy and for a long entry; you should do the opposite of what is mentioned.

True and False Trend Line Breakouts

This strategy makes use of the theory that price levels break a trend and a trader can benefit from this price breakout. However, it is to be ascertained whether the breakout is true or false. The most popular and the simplest, method is to wait for some time to see whether the price returns to its position. If the price holds and does not returns, it is confirmed that a breakout has occurred and a trader can enter near the break out point. Another way to judge the breakout trends is to consider the swing highs when the market is in an uptrend and consider swing lows when the market is in the downtrend.

Some of the other advanced strategies are:

Trend lines breakout system

Fibonacci trading

Trading breakouts of the breakouts

Candles strategy

System selection technique

Picking tops and bottoms

Automated simple trading with daily range

THE SWING 15 min TECH

30 min ATR breakout

Early bird Breakout System

Neat entry: RSI + Full Stochastic

Forex Trading Strategies that Work

Exploding Now — Tue, 07 Dec 2010 19:54:59 +0000

There are several strategies, which forex traders use in order to be successful when trading. However, not all are successful, the reason being the difference in trading temperament and style. Moreover, certain strategies work well in given conditions while fail at other times. Therefore, it is important for traders to understand which strategies to use. For this, they ought to know the relevance and use of each of these strategies and the way these can be used to the maximum advantage.

Therefore, certain features, which forex trading strategies should possess, are as follows:

Teaches something useful

Trading strategies do not simply mean signals for entry to and exit from the market. They are much more than that. The trading strategies that work are actually those that give an insight in to the way the price dynamics work and in to the global economic picture. It shows the traders the reason of the present economic picture. Once the trader understands, the concept of the price dynamics, he can effectively interpret and use the concept to his advantage. He would be able to predict the price movement of the currencies more effectively.

Adapt to different timeframes and changing market conditions

The forex is a highly volatile market and therefore there are unprecedented changes. No particular strategy can be used in all conditions. The automated trading systems do not have the ‘gut’ feeling to predict the price changes. This is something, which comes after years of experience and practice. Therefore, a perfect strategy that works is the one, which can adapt to different market conditions and timeframes. One such strategy is the price-action analysis strategy under which the traders do not use any price charts or indicators to analyze or predict the movements in the price. Human discretion is the basis of this strategy and it adapts to changing market conditions and timeframes.

Provides high probability market edge

A forex strategy which provides a high probability edge in a given market condition is considered to be a successful strategy. For this reason, certain strategies like trend trading, moving average bounces, candlesticks, support and resistance levels, and many more have been in the market for long. These strategies have been able to provide an edge and give the trader the ability to pick out opportunities and high probability setups.

Teaches fending for yourself

Successful forex strategies are those that are able to teach the trader the methods of trading and spotting opportunities rather than spoon-feeding him with trading signals. These strategies give an insight into the market and make the trader understand the price dynamics so that he may use it to his advantage.

Simple Forex Strategies that Work

Exploding Now — Tue, 07 Dec 2010 19:52:46 +0000

Whenever there is talk of forex, people assume that it is a very complex structure of trading and is not for everyone. This notion is true to a certain extent, as forex trading cannot be initiated by all since there is high volatility and incredibly fast-paced trades, which do not suit all types of traders. In addition, complexities like technical and fundamental analysis, charting, indicators and such things can confuse a trader and frustrate him. However, despite all these complexities associated with forex trading, there are certain simple strategies that work and can be used by new traders who wish to trade forex.

These simple strategies are as follows:

Trading with the trend

Trading with moving averages

Trading consolidating markets

Trading with the trend

The simplest of the strategies to trade forex is to trade with the trend ongoing in the market. Often traders lose money when they go against the trend. One can always find a currency pair, which is following a trend and therefore the forex trader only needs to spot that currency pair. It is beneficial to trade with the trend rather than go against it. Trend trading is considered the simplest, the most accurate, fun-filled, lucrative and stress-free strategy. To be doubly sure of the trends and its success rate, a trader can combine it with the candlestick trading strategy. However, a trader should understand that no trend is there in the market forever, therefore, he must be ready with a good backup strategy, in case the chosen pair enters into consolidation phase.

Trading with moving averages

Trading with moving averages give the traders the edge of locating support and resistance levels. These averages show the price levels that have been active during a particular time-period. Moving averages are used by traders in several ways. Some use it in trending markets, while others design a system around the moving averages and enter the markets when the price is below or above their preferred moving average. Still some other traders use moving averages when they cross over each other and enter the markets when there is a pull back. The popular of the moving averages are the 8, 21, 50, 150, 200 and 365; however, the usage of these depends upon the trader and his trading style.

Trading consolidating markets

Markets tend to consolidate more often than they trend. For this reason, a simple strategy that works is to learn trading the consolidating markets. In the consolidation phase, the markets become range-bound and move within a range. At this time, it is best to trade off at the levels, which are highlighted by a line drawn across the lows and highs of the consolidating market. When the prices reach the bottom, the trader should buy and when it reaches the highest level, he should sell.

Forex Trading Strategies

Exploding Now — Tue, 07 Dec 2010 19:48:44 +0000

Trading of any form has the inherent feature of being risky. However, with the use of some known and popular strategies, traders aim to minimize the risk and be successful in their trades. The same applies to forex trading. Though there are many strategies, traders use only the ones, with which they are comfortable. It is important to note that not all strategies work for every one. This is because of the difference in the trading style and preference of traders, as no traders trade the same way. Therefore, to be successful, a trader should know which strategy to use and should be proficient at using it.

Forex arbitrage: under this strategy, the profits are made when there are price inefficiencies in multiple currencies. For e.g. 1 USD, buys 1.4 SGD and 1.4 SGD can buy 1.6 EUR. However, 1 USD is trading at 1.4 EUR. An arbitrage trader would buy the SGD, and then with the SGD buy the EUR. After this, he would sell to the USD, the EUR for a profit of .2 EUR.

Forex managed account: this strategy works well for those that are interested in currency trading but do not want to day trade. The strategy is akin to mutual funds, where funds are collected and put in buying positions in the forex market. The advantage with this strategy is that the trader gets the expertise of an expert money manager.

Range Trading: the resistance and support levels of a currency pair are the basis of range trading. When these levels are identified, a trader buys at the support level and sells at the resistance level. For those that are new it is important to understand what does support and resistance levels mean. When the price of the currency pair does not seem to go below a certain level, the price is stated to be the support level. On the contrary, the resistance level is the price, which is the highest price of a currency pair and it seems difficult that the pair would break through this level.

Trend Trading: Somewhat similar to the range trading is the trend trading. Here the trader should be able to identify a trend or range. Under this strategy, a trader continues buying as the price is going up. After a while, he puts trailing stops and gains when the prices are still rising. A complex strategy, trend trading requires experience of the market and an ability to spot the ranges and trends.

All these strategies are for advanced traders as they involve a lot of effort and time. New traders should use them only when they are completely conversant with them.