I've seen a number of basic questions recently about Forex trading. I don't claim to be an expert. I haven't even gone live yet. However, I have spent the last 2 months doing full time research into Forex. Since there are so many people interested in learning here are a lot of good resources I've found. We might want to turn this into a sticky
Signal Services - 99% of signals are a scam so BE CAREFUL and always learn the basics first
Collective2 (real time signal monitoring) - http://www.collective2.com/
Forex Trading Service Review - http://www.fx-review.com/
Books
Trading In The Zone, by Mark Douglas (psychological)
Trade Your Way To Financial Freedom, by Van K Tharp (psychological)
Come Into My Trading Room, by Alexander Elder (psychological, processes)
it is indeed EXCELLENT. After you recommended three weeks ago the site to me, I had good experience trading my demo account. Especially good experience was yesterday, when I opened Forum/Chat of www.forexnews.com and started to match ideas flowing in the chat with actions at my demo trade.
Thank you for the referral. Hope to get in live trading one day.
it is indeed EXCELLENT. After you recommended three weeks ago the site to me, I had good experience trading my demo account. Especially good experience was yesterday, when I opened Forum/Chat of www.forexnews.com and started to match ideas flowing in the chat with actions at my demo trade.
Thank you for the referral. Hope to get in live trading one day.
Art
Hi you expert!
I have extra money and the stock have been always very attractive for me, but it is too risky, my best friend lost all his dollars there, so he recommended me the forex market. So I checked it out over the web and I found this forum and some basics. Anyway, is there any way to prove it before enter money? is that metatrader 4 some kind of program to practice? Where can I find it?
Thanks if you can guide me, i have a lot of expectations
Hi you expert!
I have extra money and the stock have been always very attractive for me, but it is too risky, my best friend lost all his dollars there, so he recommended me the forex market. So I checked it out over the web and I found this forum and some basics. Anyway, is there any way to prove it before enter money? is that metatrader 4 some kind of program to practice? Where can I find it?
Thanks if you can guide me, i have a lot of expectations
Here are some simple tips that will help you increase your profit potential prevent you losing money.
1. Select your first broker
When you first decide to trade Forex you will need to locate a reliable broker. It's very important that you familiarize yourself with the software the broker uses for making trades analyzing the market any other features they may offer. Many have a training or tutorial account that will allow you to signup make trades for free. Use this to your advantage before just jumping in tossing your money in.
2. Get simple method you understand
In forex trading many people think that the more complicated a method they use in forex trading the more likely they are to make money. The fact is that is not a truth the simple systems work best. As you know there are two main ways to analysis the currency rate: fundamental technical analysis. Simple systems are more robust easier to trade with discipline as you underst the logic can therefore follow it with confidence when it has a losing period.
3. Trade the big trends not trade frequently
Although short term trading long term trading are both good you have to catch the big long term trends that make the big profits. The big moves in forex trading with optimum risk to reward come just few times a year so don't trade for the sake of trading wait for these moves - These are the that will make you the big profits that's why you're trading.
4. Work smart not hard
Once you have a system your happy with that's it. People go on about working hard in forex trading to educate yourself but once you have your system stick with it. The market doesn't give you extra dollars for effort you get your reward for trading correctly.
Forex trading is risky so you need to manage your money place your stop order far enough away the market action to allow for volatility.
Placing stops too close to entry not taking enough risk dooms most traders to fail.
Also when you have a profit don't move the stop up to quickly be patient give the trade room to breathe.
5. The formula to success
The formula to success in forex trading is to do the following:
Using Simple Method + With Discipline + Control Risks = Forex Trading Success
Here are some simple tips that will help you increase your profit potential prevent you losing money.
1. Select your first broker
2. Get simple method you understand
3. Trade the big trends not trade frequently
4. Work smart not hard
5. The formula to success
The formula to success in forex trading is to do the following:
Using Simple Method + With Discipline + Control Risks = Forex Trading Success
Excellent points. And the simple method should be YOURS not what you have learnt that others do. However, you have to LEARN first very well what others do, but then create YOUR OWN SIMPLE TRADING FORMULA.
Here's a site I've found by our own Phil Dunn. The page does have pop-ups, which are a pain. Could be good reading (haven't gotten there yet): http://www.savefile.com/projects.php?pid=868431
This is over at Money Maker's Group. The author was banned around page 4. Can't imagine why. AlmostRetired took it over. Has lots of great links in it (I read this one about half-way last night): http://www.moneymakergroup.com/index.php?showtopic=8775 (Forex for Dummies)
This was from another thread, and is best over here:
Historical Forex Charts
Quote:
Originally Posted by dxgoldforless
YES they are available. I would suggest you check out http://www.metaquotes.net Grab the metatrader platform. It is one of the best charting platforms that exist.
dxgoldforless
and this option:
Quote:
Originally Posted by Noydermot
Look for a reliable data? - visit www.forexdata.biz
Here you will find a vast data collection. Intraday data for 11 currencies since 1997. EOD data since 1986 are free of charge.
Formats are compatible with most popular trading software. Monthly updates.
Free Forex links, tutorials, etc!
Re: Free Forex links, tutorials, etc!
Hybrid Mode
