Archive for the Currency Trading Category

How to Open an Online Forex Trading Account

Thursday, February 16th, 2012 | Permalink

To engage in the Forex market, you’ll engage in online Forex trading. Online Forex trading necessitates the opening of a online Forex account. This is a simple process through which you sign up with a brokerage. The brokerage facilitates your Forex trading, a set up which is required by law.

It is wise when opening an online Forex trading account to look for a broker that keeps things simple. For instance, there are some Forex brokerage houses that have multiple accounts to offer you, and the commission rate they charge will vary dependent upon how much money you have in your account. Do you find it fair to be required to pay more money in commissions on trades just because you choose not to put all of your money into a trading account? Few traders would; yet, that is the situation with many brokerages. You should only have to pay one flat commission rate regardless of whether your account has £50, or £5,000, or £5,000,000. Look for a broker that makes this sort of offer to you. (more…)

Forex Trading Wipe-Outs

Tuesday, January 24th, 2012 | Permalink

If you’ve ever traded in the foreign exchange markets, the chances are most of you have had an account wipe out. You’ve gone into the Forex market with high hopes, with a high expectation of making a lot of money and with low expectations of losing that money, however, most new traders have their low expectations come true and wipe out their entire Forex trading capital within weeks.

It’s a horrible feeling being caught in a bad trade, over leveraged with no pre-determined stop loss. For those of you who haven’t experienced this, the following is an example of what so many have experienced in the Forex; we will use imaginary Joe as an example. (more…)

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