Sunday, January 30, 2011

All You Need to Know About Forex Trading

There are literally thousands of people who aspire to make a fortune from currency trading or forex trading. Seeing traders earn thousands of pounds everyday while you slog in a 9 to 5 job to make 1/4th of that amount in the entire month can stir the curiosity of anyone indeed.

Although the lucrative potential in this market is quite evident but how to take a bite of that pie remains a mystery for most traders, hence there are only a few perseverant traders who actually taste success in the forex market.

One of the primary reasons why many people fail to decipher the bright side of the forex market is the insufficient availability of good knowledge (Yes, including what is available on the Internet). And even when you find some resource, it usually uses such technical jargon that beginner level traders find themselves completely lost. What more? If you chance to find any good resource, more often than not you may find yourself having to pay to gain full access to the complete guiding material.

In such a scenario, mere survival in the forex market seems to be a big challenge, let alone earning a living from it. Being a forex enthusiast and a successful trader now, I completely understand your struggle and have thereby set up this resource site to help people solve this mystery of success in the forex market, understand the undercurrents of this vast market, and make the most of the opportunities that forex market throws their way.

From useful information to selecting the right forex brokers, you can gain all the necessary guidance here that any beginner or advanced trader may need, and that too in an easy-to-understand language and all for free.

Naturally so, many of you might be thinking as to why am I so interested in sharing my trading knowledge with you all? It’s simple! Unlike other work environments, there is no competition between the traders in the forex market. So, your gain would never mean my loss. It’s not that we are not humans but this is what the nature of the forex market is.

Traders are never competitors, so we dwell in a healthy, mutually-helpful work environment, where I would never be at loss, even if I assist you in your forex endeavour. So, being passionate about the market, it gives me great joy and satisfaction in helping other forex enthusiasts.
How to Start Forex Trading?

If you have finally made up your mind to take the plunge into the forex waters for additional income, the foremost thing that you would need to begin trading is a good forex broker. You may take a look at some of my tips for choosing a forex broker, or you can take a look at the comparison chart below for the best forex brokers in the market, or directly visit the forex broker reviews page for detailed-reviews.

Although if you are not very confident about your understanding of trading basics and strategies, it is advisable that you browse through the site first and educate yourself before you try out even a demo account with any forex broker.

Best Forex Brokers 2010

Forex Brokers 2010 Minimum Deposit Regulation Free Demo Account Leverage Spread Value Customer Support Apply
#1 Easy Forex

$200 US & EU Approved No 200:1 3-7 pips Excellent
Open to both UK and US traders, Easy Forex is an ideal platform for traders with low budget. The professional yet easy-to-use platform offers a superb value for their great features, ultimate support and unrivalled tools. Every trader is also provided with their personal account manager for any guidance. With regulation from both EU and US, you can be sure that it is the most reputable and secure trading platforms around. More information...
#2 eToro

$50 EU Approved Yes 200:1 2, 4 and 6 pips Good
If staring at complicated graphs and charts bore you to death, be sure to give this innovative forex platform a try. eToro really makes trading fun. You may even feel like you are playing a game while making some serious money. Primarily focused at attracting new traders, the bonus of up to $1000 offered on first deposit is another eToro plus. More information...
#3 Forex Yard

$100 N/A Yes 200:1 3-5 pips Good
In case you passed on Easy Forex and eToro, chances are that you are an experienced broker looking for a highly advanced trading platform. Forex Yard tops the charts when it comes to trading at expert’s level. Though you may get started with a minimum deposit of $100, professional account with a minimum deposit of $1000 is highly recommended for experienced traders. Easy-to-use platform, competitive spreads and leverage, loss protection features, all make Forex Yard a great pick for advanced forex trading. More information...


  1. Hello Everybody,

    I've attached a list of the highest ranking forex brokers:
    1. #1 Forex Broker
    2. eToro - $50 minimum deposit.

    Here is a list of the best forex instruments:
    1. ForexTrendy - Recommended Probability Software.
    2. EA Builder - Custom Strategies Autotrading.
    3. Fast FX Profit - Secret Forex Strategy.

    I hope you find these lists beneficial.

  2. Hey Everybody,

    "Which Forex pair and time frame is best to trade" is the frequently asked question and I want do give you the DEFINITE ANSWER in this comment.

    Are you expecting that I am going to say something like EUR/USD on 10-minute time frame or GBP/USD on weekly...? No, it is not so simple, but SIMPLE ENOUGH we can figure it out!

    The "PROBLEM" is that markets change over time. If GBP/USD was a well trending currency pair a few years ago, today it is another one.

    I actually want to let you know about a SPECIAL INSTRUMENT that I use to find the BEST TRENDING PAIRS among all the Forex pairs.

    CHECK IT OUT: ForexTrendy

    The tool examines 34 Forex pairs on all time frames from minute to monthly. This way you pick the best trending pair and time frame at the current time.

    CHECK IT OUT: ForexTrendy