ForexGen’s mission is to provide an online Forex trading platform that allows clients to trade the Forex market easily and successfully. On top of dealing with forex .Our online trading platform is unique and traders wishing to buy and sell currencies, options and indices will find it very user-friendly. Whether the value of a currency pair goes up or down, traders may benefit from it. By using our forex trading platform, clients also have access to real-time prices of indices, gold, silver and options.Trading online with ForexGen is easy: clients can register to our platform in 3 easy steps, and within minutes, they have access to the largest financial market in the world – around $3 trillion in overall daily trade volume. Since Forex Trading practically never stops, the ForexGen Forex Trading Platform is available any time of the day. It offers free technical analyses, charts (including Japanese candlesticks), graphs, indicators such as RSI and MA and an up-to-date economic calendarForexGen provides you with all the resources needed to increase your chances of making profit when trading Forex. ForexGen is also one of the rare online trading platforms to offer options trading on the main currency pairs. Once you start trading on the ForexGen Trading Platform – whether via our Standard Account, Mini Account or Demo Account – you will quickly understand why so many investors place their trust in ForexGen when it comes to option, CFD and forex trading read more….
There is one problem that most forex traders fail to come to terms with and lose and its operating in an unstructured environment – this is the major underlying reason traders lose, so lets it explain it and its significance in more detail.In normal society we confirm to rules and laws they govern our lives and those of our fellow citizens, were used to them and we conform to them.When a forex trader trades, he has to operate in an unstructured environment and create his own rules to live and survive by.This sounds easy enough to achieve, however nothing could be further from the truth – it’s very hard and most traders simply can’t achieve it.Let’s take a closer look at the problems associated with operating in an unstructured environment.1. Taking Responsibility For Your Actions.This means taking charge of your destiny and most people simply cannot accept this responsibility.They want the comfort of having someone to hold their hand and blame if thinks go wrong.Problem is if you don’t accept responsibility, you won’t win – no one else will make you rich in Forex trading, you’re all on your own.2. You Have To Create a Set of Rules to SurviveThe market which you confront is all powerful, it moves as and when it wants – it’s always right and you can only be wrong .Again, this causes major psychological problems for traders – we all hate being wrong, but in this instance you have to accept the market is right ALL the time, if you don’t you will run loses and the market will destroy you.
Most traders get frustrated and break their rules, or create a new set as they lose and end up chasing their tail. If you create rules you must have the discipline to apply them and most traders simply lack the mindset to do this read more….
ForexGen, in cooperation with E-market online, a leading online forex learning center, presents a series of online forex courses designed to guide beginners through the competitive world of Forex trading. This comprehensive, step-by-step approach to foreign exchange provides students with in-depth information, proper training, and useful resources – all the tools necessary for profitable trading.
With ForexGen, forex learning comes together with practicing: as students learn more about forex, they will be invited to put their knowledge into practice and put their skills to the test – all with no risk of course. Indeed, there is no better way to enter the forex market than through the ForexGen Demo Platform. As you absorb the information you will have learned, we will teach you how to trade and how to invest smartly on the FX market, in real market conditions. From the basics of forex to advanced trade orders and trading strategies, our learning programs will teach you the skills that make a good trader.
Main topics addressed in our forex courses
- Forex market introduction: Learn the particularities of the foreign exchange market and how forex fits in the greater world of finance.
- Trading strategies and tools: See how you can combine different trades and what trading tools you may use.
- Types of deals: Find out about various forex market orders.
- Fundamental and Technical Analysis: Interpreting graphs and economic data to make market predictions.
- The Fibonacci correction: One of traders’ favorite technical indicators for identifying and predicting market trends.
- Guide to online trading: How to start trading over the Internet.
- Trading psychology: Adrenaline, impulses, and trading profiles – what kind of trader are you?
- Money and Risk Management methods: One of the main aspects of speculation consists in increasing your chances for profit while reducing your chances for loss. Find out how.
- What makes a champion trader: The do’s and don’ts of online trading.
Why such an education is important?
The main appeal of forex trading is that it can become a very lucrative source of profit. There is, however, a downside: it can also lead to substantial losses. Unfortunately, traders who rush into deals without a solid training – and they are numerous – are bound to burn. So why learn the hard way? With ForexGen’s online forex courses, you acquire all the skills that make a successful trader. Forex learning was never so easy!
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A fool-proof trading strategy can help you gain profit from day one in the Forex market. If you spend some time to study the market you will find some price patterns that recur consistently. You can substantiate your observations with charts or graphs using a strategy builder software and then finally develop a strategy unique for your trading habits. So developing a sound and effective trading strategy is the important foundation of the trading. You must develop working knowledge of technical analysis as well as knowledge of some of the more popular technical studies before deciding which is going to be the best strategy for you.A trading strategy should optimize your risk with respect to the reward, or vise versa. It should have a disciplined method of limiting the risk and make the most out of favorable market moves. Using Technical Analysis to Build your own Forex Strategy Technical analysis can supplement your trading strategy. Many professionals for example make use of moving averages along with other indicators. This method has an element of risk control (built-in) – where a long position will be stopped out fairly quickly in a falling market generating a stop-and-reverse signal or a sell signal in a rising marketAt the initial stage you should rely on a logical system in having a view of the market. Discipline will be the keyword for establishing yourself as a successful trader. Your trading decisions should not be based on irrational emotions where you continue to experience losses with the hope of regaining the position. Your ability to limit your losses is just as important as determining the entry points read more….
Advantages of trading margined spot and forward foreign exchange:
- Ability to trade on margin. Access to the FX market can be made using small capital outlays by taking advantage of superior leverage
- The FX market is the largest and most liquid in the world
- 24 hour seamless trading. The FX market is open for a continual 5 1/2 day period allowing you to enter and exit the market at any time
- Ability to establish long (opening purchase) and short (opening sale) positions
- Superior market transparency. There are no multiple exchange listings of the same instrument
- No standard trade sizes exist
- No delivery or contract expiry to consider
Advantages of trading FX using technical analysis
- Strong persistent trends
- No directional bias
Advantages of trading FX using fundamental analysis
- Global economic information readily available
- Considerably less complicated than stock investing
- Ability to trade on news and events read more….
The US economy is the largest in the world. That is in the majority of Forex transactions traders involve the US dollar against another currency.The German mark, the Japanese yen, sterling (British pound) and the Swiss franc have been the basic currency of a lot of trading transactions. Each of these markets has very distinct features.The German mark has been replaced by the Euro. The German mark was a tower of strength. The traditional role of the Bundesbank was undermined after unification with the former East Germany and it has now been replaced by the European central bank.The Japanese yen has been highly changible in recent years. In October 1998, the most dramatic currency move in many years was seen as the dollar fell some 15% in just a few days against the Japanese yen.The Swiss franc serves as does the dollar from time to time, as a “safe haven”. This is due to the isolation of the Swiss economy, its independent and neutral political acts and the secrecy of Switzerland’s banking system.The British pound, always a big part of foreign exchange markets and the first currency to be Forex market traded actively against the US dollar via the transatlantic cables (hence the description “cable”), has traditionally weakened against most other currencies. This tendency has been reversed in recent years and the pound will remain an interesting currency as it takes its place as one of the few key European currencies.European CurrenciesEuropean currencies have gained in importance in the last twenty years and have suffered some major crises due to the continued attempt to peg exchange rates to each other. The key to Continental European currencies has been the German mark-French franc Axis that was seen as the backbone of the common currency. The Benelux countries have benefited from long-term stability as well, whereas most Mediterranean and Scandinavian currencies have fluctuated wildly against this European core. The introduction of a common currency in 2001 attracts big changes to foreign exchange trading in Europe. As early as 1998, the participating currencies were fixed against each other and this has forced many European banks to revise many of their trading assets. Overall, however, we do not consider the introduction of the Euro to be particularly detrimental to foreign exchange markets. A feeble Euro has taken the place of the mark and non-participating European currencies will become more inconstant and more exposed to speculative attacks. This will spell a new dawn for sterling trading that will become the main national currency market (together with the Swiss franc) in Europe.Arising marketsSo-called exotic currencies have long offered enormous profit potential as well as very substantial risks. The most noticeable approach has been to single out weak, but fixed currencies for brutal speculative attacks, leading to large devaluations and extensive economic problems for the countries involved. The reason that many emerging currencies are artificially supported to the US dollar or other currencies is normally to force local monetary authorities to act with more discipline and to persuade holders of the currency against the risk of depreciation. Unfortunately, it has proven nearly impossible for most emerging countries to maintain the necessary discipline to justify stable currency levels and the result is nearly always a dramatic devaluation. In leveraged trading, such devaluations offer big profit potential, but in the intermediate periods where the currency is stable, high interest rates will benefit investors with the nerve to hold onto the currency read more….
So you Want To Trade for a LivingI always enjoy Brett’s books on trading psychology. While impressed by his ongoing sharing about this important subject, I emailed him recently to request an article for aspiring traders who want to trade for a living. This is not an easy feat, but it is not mission impossible. Trading the financial markets is basically trading your belief on the financial markets. It takes a disciplined mindset, proper money management and a good trading system to trade profitably. Most workshops teach you the technical skills, but rarely touch deeply on the subject of trading psychology. Therefore, I recommend you to read “Enhancing Trader Performance” by Brett N. Steenbarger to develope cutting edge of trading psychology. Below is an article he approved to publish at FX Operator:
I receive quite a few emails from aspiring full-time traders. Some hope to land positions with trading firms; others are looking to make a living by trading independently. Here are a few considerations for those thinking of making the leap:
Make sure you’re adequately capitalized – This is, in my experience, the achilles heel of most traders who aspire to make a career of their market participation. If you start with a capital base under $100,000, you have to make a huge annual return on your money year after year to sustain a decent living. That leads traders with small accounts to take outsized risks, and those risks are what eventually blow them up. As a relatively new trader, you’d do *very* well to make 20% on your money per year after costs. If you can’t make an adequate living from 20% returns, you know you’re undercapitalized read more….
Benefits of Forex Trading with ForexGen
Forex offers great investment opportunities for those wishing to diversify their portfolio. Forex benefits and advantages are many. Here are some of the main reasons why more and more corporate and individual investors choose to trade forex:· No Commissions, Small Transaction Costs: This is probably one of the most attractive forex benefits. Indeed, when you trade forex, you are not charged any fees or commissions on your deals. The way it works is that brokerage firms get paid through spreads (the difference between the bid and the ask price). This allows for extremely low transaction costs. Thanks to its large number of clients and to the large volume and capital traded through the platform, ForexGen offers very competitive spreads on the main currency pairs.· Leverage Trading: High Returns with Relatively Small Deposits. this means that even if traders deposit a small amount of money, they can actually trade with a much bigger contract value. ForexGen offers a 200 to 1 leverage. If you make a $100 margin deposit, you can actually trade $20,000 worth of currencies. With a $1,000 margin deposit, you can buy or sell $200,000 worth of currencies. However, you must keep in mind that if leverage allows for substantial profits, it also can lead to equally significant loss. One of the chief forex benefits can thus become a major liability. That’s why you need to figure out your own risk management policy before you start trading.· High Liquidity: This refers to the forex market’s ability to quickly convert or liquidate deals through buying or selling and without causing a significant price movement. The high liquidity of the forex market is mainly due to the large volume of currencies traded around the world. That way, currencies are exchanged instantaneously, 24 hours a day and with minimum loss value, since the next trade is usually executed at the same price as the last one. In the forex market, there are always plenty of ready and willing buyers and sellers.· Open 24 hours a day: The forex market is open ’round the clock, 5 days a week, from Sunday 5 pm EST to Friday afternoon 4 pm EST. This is due to the fact that there is an overlap of different time zones and that there is no physical central exchange that opens and closes at a particular time. Forex works through a global electronic network of corporations, banks and individuals. When you hear that a certain rate closed at particular price, this refers to the price at market close in London or elsewhere. However, unlike securities, currencies are still traded somewhere else in the world. The global scope of currency trading, as well as the high demand for currency, implies that there are always investors somewhere who are willing to buy or sell currencies. This also allows traders to trade on a part-time basis, meaning that they can choose to trade whenever they want.
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24hrOnline Forex Trading With ForexGen
With a volume of $3 trillion traded each day, the foreign exchange market is the largest financial market in the world. While Forex trading was once the exclusive domain of banks and large financial institutions, the rise of Internet technology has made it accessible to all types of investors including individuals with small investment capital. As word of its substantial and quick potential profits is spreading, online forex trading is becoming more popular each day. Through online currency brokers such as ForexGen, traders can now buy and sell currencies in one mouse click and with no commissions or fees. Online forex trading allows you to take advantage of market fluctuations – even small – in various currency rates. At ForexGen, you get free access to topnotch tools which will help you predict market direction and place your orders.
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Lowest Spread with ForexGen
If we take no commissions or fees, then how are we compensated for our brokerage services, might you ask? The answer is: the spread. As you may have noticed, a currency pair quote comes with two displayed rates for instance, GBP/USD 2.025/2.028. Those refer respectively to the bid price (the rate at which you may short sell the pair) and the ask price (the rate at which you may buy the pair). The spread is the difference between those two rates. The tighter the spread, the more advantageous it is for you. ForexGen offers spreads as low as 1 pip on the main currency pairs. ForexGen is able to offer such tight spreads thanks to the huge capital traded by its clients each day and the excellent inter-bank conditions thus negotiated.
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May 30, 2008
