Can You Recognize a Forex Scam? by April Mayes

Recognizing Common Forex ScamsOnline Forex trading has no doubt increased financial investment opportunities in recent years, at the same time however, there has also been an increase trading scams. There is a lot of forex trading software tools online available which can make you rich overnight. But how can you tell if what they advertise is actually valid or not? The CFTC (Commodity Futures Trading Commission) urges consumers to be cautious when promoters of foreign currency trading claim that their company account management program will earn high profits with minimal risks. The information in this article will provide you with some helpful tips to help you recognize some of the forex scams that are out there today.Congress created the Commodity Futures Trading Commission (CFTC) in 1974 as an independent agency with the mandate to regulate commodity futures and option markets in the United States. The stated mission of the CFTC is to protect market users and the public from manipulation, fraud and abusive practices related to the sale of commodity and financial futures and options, and to foster open, competitive, and sound financial futures and option markets.CFTC is legally in charge of regulating the foreign exchange market of US. The CFTC works to ensure the integrity of the commodity and financial futures markets. It protects the public and market users from fraud, manipulation, and abusive practices while fostering an open marketplace for trading commodity futures as well as foreign currency. Some of the guidelines suggested by CFTC via its programs to avoid the forex ploys are referenced in this article.You need to be well educated about the future market users and the trends which may influence the forex trading. With the knowledge of this, you will be able to ascertain the credibility of the claims made by the forex product manufactures and thus stay away from the Forex Market Exchange scams. It is highly essential that the unsuspecting individuals involved in the forex trading protect themselves against forex schemes by sufficient legal procedures; which is strongly suggested by CFTC. You need to be suspicious before stepping into any of the next levels in Forex Market Exchange or while purchasing the forex materials until there are enough facts to prove otherwise. There are some manufacturers who target market unsuspecting individuals from a particular area by offering special allowances to them.Keep away from any forex trading involving Interbank Market because it is not very secure as it deals with currency transactions over a loose network. The interbank market is the top-level Forex trade where banks exchange different currencies. Another signal that caution should be taken of possible forex plots is when the concerned persons or companies try to coax you into transferring or sending money to them in a very short notice. Do not encourage unsolicited telephone calls in which companies or brokers claim they can provide you with the only best forex trading assistance available. Understanding more about futures trading will help you stay thoroughly informed about the Forex trade.The only funds that should ever be used to speculate in foreign currency trading, or any type of highly speculative investment, are funds that represent risk capital; in other words, funds you can afford to lose without affecting your financial situation. Forex trading is risky, don't be pressured into an immediate decision and always use your common sense before embarking in any type of trade. Keep away from those brokerage companies who ensure you a huge return and keep in mind that nothing in currency trading is risk free. Never use your hard-earned money, savings or retirement funds to invest in any Forex opportunity that claims you will be rich overnight.

Can You Recognize a Forex Scam? by Crystal Adelson

Scams for the Forex exchange are not as common as you may think, but they do exists. One example of an convicted scammer is Richard Matthews, a former foreign currency trader. It was in 2005 that Mr. Matthews plead guilty to wire fraud for a scheme that netted him more than $30 million. When the forex fraud was discovered, the CFTC (Commodity Futures Trading Commission) sued Matthews and sought restitution of $14.8 million. The information in this article will provide you with some handy tips to help you recognize some of the forex scams that are out there today.Congress created the Commodity Futures Trading Commission (CFTC) in 1974 as an independent agency with the mandate to regulate commodity futures and option markets in the United States. The stated mission of the CFTC is to protect market users and the public from manipulation, fraud and criminal practices related to the sale of commodity and financial futures and options, and to foster open, competitive, and sound financial futures and option markets.CFTC is legally in charge of regulating the foreign exchange market of US. The CFTC works to ensure the integrity of the commodity and financial futures markets. It protects the public and market users from fraud, manipulation, and abusive practices while fostering an open marketplace for trading commodity futures as well as foreign currency. Some of the guidelines suggested by CFTC via its programs to avoid the forex scams are looked at in this article.If you plan on investing in forex, you should be knowledgeable about the future market users and the trends which may influence the forex trading. With the knowledge of this, you will be able to effectively ascertain the integrity of the claims made by the forex product manufactures and thus stay away from the Forex trade scams. It is important that the people involved in the forex trading are protected against forex schemes by sufficient legal proceedings; which is strongly suggested by CFTC. You need to be alert before stepping into any of the next levels in Forex exchange or while purchasing the forex materials until there are enough facts to prove otherwise. There are some manufacturers who target market people from a particular area by offering special concessions to them.Keep away from any forex trading involving Interbank Market because it is not very secure as it deals with currency transactions over a loose network. The interbank market is the top-level Forex market where banks exchange different currencies. Another warning signal of possible forex scams is when the concerned persons or companies try to coax you into transferring or sending money to them in a very short notice. Do not encourage unsolicited telephone calls in which companies or brokers claim they can provide you with the only best forex trading assistance available. Understanding more about futures trading will help you stay knowledgeable about the Forex market.The only funds that should ever be used to speculate in foreign currency trading, or any type of highly speculative investment, are funds that represent risk capital; in other words, funds you can afford to lose without affecting your financial situation. Forex trading is risky, don't be pressured into an immediate decision and always use your common sense before embarking in any type of trade. Keep away from those brokerage companies who ensure you a huge return and keep in mind that nothing in currency trading is risk free. Never use your hard-earned money, savings or retirement funds to invest in any Forex opportunity that claims you will be rich overnight.

Online Forex Trading - Some Useful Tips by Amit Kothiyal

Have you ever heard about Forex Trading? Are you one of those who are looking to find forex trading tips on how it works? Well, in that case you are not the only who is looking for an answer to come out from this dilemma. There are many who actually think to be more knowledgeable and act as if they are very familiar with Forex trading. In fact most of them think that fx trading has more to do with stocks or bonds. But, in reality it is not just about stocks or bonds. It is a type of trading that generally involves trading of currency pairs. The currencies that are usually chosen for trading are considered above the rest because they are stable and have a greater value than other foreign currencies.
Forex trading can be defined as selling and buying the foreign currencies of different countries. It is very similar to stock trading where the foreign currencies behave like shares of the currency institutions of the countries. As stock prices moves up or down, these also move up and down with time-dependent volatility. So, one has to keep a constant study of the trajectory every particular currency vis-a-vis the other currencies, pair-wise.Key Forex Trading Tips
Trading in Forex market without gaining or having the prime knowledge on how the system works, would be just like playing a game without knowing the rules and objectives beforehand. As a result, you need to understand the primary essentials of fx trading or any other trading before setting a Forex trading system. So if you are one of those newcomers to the forex market, then here are few important tips that can help you achieve paramount success-
Trade currencies with adequate capital - One major mistake that many newcomers make is attempting to trade without sufficient capital. Trading with minimum currencies will actually make you take limited risk capital. Moreover, you will always look to minimize losses beyond the point of realistic trading. As a result you need to have sufficient capital.
Trade in pairs- This is the very vital tip that you must concern seriously. It is just like maintaining any relationship in day to day world. In this currency trading you must have the knowledge of both the currencies, not only one.
Exercise according to strategy - Make sure you have the ability to plan your work and work your plan. A well defined strategy is surely one of the essential "mantras" of the fx trading market. Take your time to research and find one that you feel most comfortable with. Plan your strategy even after you've suffered a series of losses.
Patient and Persistent- As with most business ventures, Forex trading is a rational endeavor. You cannot expect to achieve success in very first trade. Be more patent and allow some sufficient time to achieve success. Besides this, be more persistent and do everything as per the rules of your trading system or method. Follow thoroughly and you will find that after you have taken every trade according to your method, you gained profits. You will enjoy the trading once you start getting profit.
Follow trading rules - Being a newcomer, when you study the examples of past trades, it is much easier to recognize direction, entries, and exits. But in order to be more acquainted with opportunities in real market can be more difficult. Thus in order to develop this important skill, you must pay very close interest to detailed price patterns or the chart positions of technical indicators. Following currency trading rules is no small matter. In addition, never try to ignore the power of technical analysis as it has a good tool to give you buy or sell signals. You get the clue about the market whether it is over extended, long or short.
Maintain a Trading Log - Maintaining a proper log of trades is very similar to taking a snapshot in time. This small yet vital step can help you improve your skills in recognizing strong trade setups. In fx trading it may always be hard to memorize accurately what you saw in the beginning that caused you to enter the market. So by following this simple step, you can easily note about each trade you make and the technical picture you see.
Today, forex trading is easy money. Especially with the introduction of online trading it virtually continue to move upward. The success of Forex trading is just like any other trading and lies in your ability to buy for less and sell for more, but getting more familiar on how to approach and learn will help you to gather all the benefits. It is a profession that definitely requires a learning curve.

Forex Currency Trading System-Which one is best? Forex Software choosing tips. by Bob Vanburen

Choosing the right Forex Currency Trading System can be one of the most important thing you do when you are exchanging currency.
Forex Software has become so mainstream it can be very hard to choose one especially if you are new to the whole Forex currency Trading game.
You need some type of a Forex Currency Trading system in order to properly execute a margin call or something where a you might need a broker but one is not available.
This is where the proper Forex Online software comes in. Have you made some bad calls maybe your broker has made some bad calls. He is probably looking at charts from his own Forex Trading System or Software.
What if his software is outdated or does not have the proper data. This could mean his charts and historical data may be off.
You could lose a ton of money if you rely on others to make decisions for you. I found out that using the proper software not only can save you time it also can save a ton of money.
I started to research alot about several Forex currency Trading Systems online. I decided to give 5 tips I found that will lead to picking the right one.
1.Make sure the software can be installed on a Virtual Server.
2.Automated software is a must but you also want to look at demos to see how well it converts Pips to cash historically.
3. You want to view testimonials from several traders who recommend the software.
4. Call local brokers to see what trading system they would recommend.
5. Always test the waters once you get your software and start off with a small sum of money you can afford.
I went through and reviewed a bunch and it came actually down to 2 pieces of Forex trading software.
To see my Top 2 final results Click Below.

Bill and Greg Poulos' Forex Income Engine by Bill Potter

Forex trading Methods Review: Forex Income Engine 2.0Why Currency exchange Revenue Engine 2.0?If you would like the truth, a lot of them are engineered to do one thing for you : remove your money from your wallet.Which leaves you all too often moving from system to system or robot to robot - never actually being in charge of your own trading.The system to make is that in order to trade in the Forex markets, you have to be in control. One be in control. Instead, we push folks toward having a trading system - a guide for a way to identify what's going down the market and a blueprint, so to speak, for how you can capitalize on it. Most fail. To that end, we have energetically tested Currency exchange Revenue Engine 2.0 -- a superior fail. A good trading that we believe any trader can grasp easily and trade with confidence.Forex side of the product of major development to create an easy-to-use, flexible trading program that may be traded in any time period and at any point of the trading day. Average trade durations are 3-6 bars - so one of the TOP reasons we like this method is that you don't have to observe a trade for hours at a time. You will be in a position to move quickly in and will not be compelled to stare at your monitor all day five minute bars to the feedback about most trading strategies out there - and we do - we found reasons we think traders will like MOST in the Foreign exchange Earnings Engine 2.0 course:- watch a complete trading method.Forex Earnings Engine 2.0 teaches the precise setup conditions, actual rules, intial stop rules and different exit strategies for each of the 3 strategies it contains. Traders will adore this because most methods out there don't provide this (although many are now starting to copy it) -- and without each of these elements, setup conditions, entry, exit and stop loss rules, no system should ever be considered complete nor should it be traded.- It contains 3 unique trading methods.Many traders are shocked by this because most courses out there hardly teach forex traders a single system -- and yet, Currency exchange Revenue Engine 2.0 teaches THREE unique methods. The most vital aspect here is that the three methods it teaches give forex traders more opportunity to maximize their profit potential by being able to capitalize on types of trends in the markets.We must confess, Bill is an example of the loudest voices on Risk Management. In his Currency exchange Earnings Engine 2.0 course, not only does he make it straightforward to comprehend and implement his risk management strategies, he also teaches you the way to incorporate it into YOUR trading life - that's education you may own forever! You may never find yourself unprotected on a trade again. Additionally , this coaching is so unique - Bill calls it getting into a 'free trade' situation - you'll be stunned at how easy and effective it is and very pleased with the results it can have on your trading account.Let us share with you additional information on each of the strategies in the course and what you'll get when you take on the course now employed by thousands of traders around the globe.New to Forex? We have got you covered...For those who are new to foreign exchange trading, the Currency exchange Revenue Engine 2.0 incorporates a Trading and Basics course that may be a refreshing, detailed look into the world for foreign exchange trading. Bill covers all the key topics; you'll learn what a forex "pair" is, the way to trade the forex pair, how to master the technical indicators that are employed in the methods, how to manage leverage and margin properly, understanding and idendifying trends, and much, much more.This segment will answer any newbie question about currency exchange and foreign exchange trading and when you're done, you can be in a position to take on the markets!Learning foreign exchange can take a tremendous effort - so in the take on the Forex Income Engine 2.0, Bill lays out exactly what you should be expecting to learn from the course and the path he'll take to get you there. He'll show you the 6 forex pairs that are best suited for trading with the Foreign exchange Income Engine 2.0 strategies and he even jumps right in the water with detailed trading examples -- this instant immersion will surprise you as it shortens your learning curve.Forex Trading Method #1 - Ignition MethodThe Ignition Method is designed to capture pips on short term continuation trends with trades often lasting only 2-6 bars. This method's goal is to capture 10-50 pips per trade and minimize your risk exposure. the method so you can identify the setup conditions, the entry and exit points and where to place initial and ongoing stops.Furthermore, the 2 part profit exit methodology will help you to take advantage of more profit potential than you though possible.Forex Trading Method #2 - Overdrive MethodThe second forex trading method covered in trading technique you the Forex Income Engine 2.0 course is the Overdrive Strategy . Standard trades will again where to set initial and of more profit goals of 25-100 pips. As you can see, if you were learning Forex Income Engine right NOW, you would already have now TWO trading methods with different tactics to attack the markets. So, let's add a third method!This technique identifies trend reversals and works to guard you against false targets, together with plotting the trend' signals. Typical trades are in the 2-6 bar range and target profits of 25-100 pips. You'll learn how to apply how to apply the indicators for this strategy, a way to identify the setup conditions, when to get in and Earnings Engine at the trade, and the way to manage your stop losses to grab to most profit potential.This to identify the Forex Earnings Engine 2.0 course is one of the separate strategies to take on the topic and definitely the most vital. Bill spends a big period of time, more than anyone else I've seen, teaching you on risk management, its significance and the way to incorporate it into your trading plan. If you aren't following risk management rules, you're guaranteed to lose your money faster than those who are. the most vital aspects to look after your account balance and ways to protect each trade you place, and the way to use his concepts to get yourself positioned for a FREE TRADE situation.Bringing it all together - Emotional ControlNext Bill debates the significance of DISCIPLINE and the way to get Emotion out of your trading (because it doesn't belong). His goal is to show you how you can exert more control over yourself to protect your trading activities and to make better calls when trading.Bringing it all together - Cooperative Trading TacticsBill will also share systems for combining ALL THREE trading methods to grab as many potential pips from the market as you can and shows you how the three strategies work cooperatively to maximize your trading opportunities.All in all, I suspect it's the most complete course, that covers all the significant subjects, from Basics to trading strategies to chance management.The Forex Income Engine 2.0 also incorporates Bill's unique foreign exchange Trading Plans . These plans make it super straightforward to plan and place your daily trades. Full Year of Student SupportBill and his team have consistently earned a name for the best student support team in the industry. There's no disagreement on this point : if you have questions, his support staff has answers. They are prompt and exhaustive when responding. That is important in our book, because most 'gurus' pretty much vanish after you have purchased their course. Not Bill. Member's WebsiteBill also provides you with access to an affiliate's only internet site, which is packed with added trading instructions and suggestions to using the course, which helps eliminate even more time from examining charts and focuses your attention straight away on the pairs to consider for trading.We even checked on that through some forex forums and found out people were floored when they got their money back nearly immediately!All together, the Forex Income Engine 2.0 is an example of the most elaborate, complete intra-day trading strategies on the market. Following Bill's step by step instructions is a breeze and gives you total confidence in mastering the 3 different methods.Forex Earnings Engine 2.0 should get your nod for best currency trading Method on the market. Take a look at it for yourself, and make us know if you agree.

Can I Earn $100,00 in 24 Months with an Auto Traded Forex Account? by Mike

Here is a bold statement: I think it might be possible for an average person, with very little forex trading experience, to set themselves up and earn $100,000 in 24 months.
The world-wide forex markets dwarf all other financial and commodity markets to the tune of 3 Trillion USD traded daily. This is a very liquid and vast ocean of financial activity.
As interesting as all that is, what really appeals to people is the thought of earning some extra money. I can pretty much guarantee however, that if a new person jumps in and starts trading the forex market, they will end up losing money. There are many reasons: Not having a good strategy, lack of understanding of proper money management techniques, greed and fear...especially fear. Fear to enter a trade, fear to exit a trade...etc.
Personally, I think there is a better way.
Let me see if I can use an analogy. I am not an auto-mechanic. I do not have the mechanical skill, aptitude or even the interest to do what an auto-mechanic does. I can change the oil and fill up the gas tank (well, I can also top off the wiper fluid reservoir). That is about the limit of my automotive repair skills. Have I ever needed a mechanic for my car? Sure. Do I have a desire to pick up the skills of a trained and knowledgeable mechanic? Nope, not interested! I am only interested in the results.
You know what, today it is possible to hire a skilled, competent forex trader who will Auto Trade your account (along with many other people) for a nominal fee. Is it me who does this trading? No, not me. I guess I am just kind of lazy. I am not really interested in learning all the minute details about how to successfully trade. (Just like I am also not interested in learning all the inn's and out's of fixing my car). My skill, if you will, is in choosing a competent and skilled forex trader whom I can trust.
Did you know that you can find a talented forex trader with a success rate of better than 90% on a going forward, real time basis, who will Auto Trade your account? Yeah, I know. Someone is going to say that lots of little wins and a couple of big losses can still make you a net loser. No Kidding. I may not have a lot of skills, but I do recognize that basic fact. What I want to see is a month by month consistent increase in my capital.
At any rate, I think I may have found what I have been looking for, we'll see. Over the next 24 months I expect to earn $100,000 through an Auto Traded forex account...starting with around $6,000 of my own money.
Follow along with me if you dare.

How to Swing Trade the Forex Market? by Mark Soberman

How to Swing Trade the Forex Market?

While daytrading has its advocates, there are a number of traders who prefer to do swing trading, which takes a longer time horizon. This is particularly suitable if trading is not your full time occupation, as swing trading allows you to access the markets each day and take actions for the following day.
Although swing trading came into popularity trading stocks and shares, the Forex market has an advantage over these, in that it is open 24 hours a day during the week. This means you can not only plan your trades but also make them in the evening when you get back from work. In this way you know exactly what price you can enter the market at, rather than having to leave an out of hours order to your broker.
The successful swing trader usually keeps certain principles in mind in order to stay on the right track. One of the first you may hear is "Let the trend be your friend". While there are countertrend systems, this maxim is generally applicable, and you won't go far wrong if you stick with trading in the general direction of the market.
Of course, it is not always easy to know which way the trend is. That is why you will come across different opinions on how to determine this. Often it will be in the form of saying how many days of a moving average to use -- a long-term moving average, such as an SMA 200, will give a good indication of the overall market direction. A further point to watch is that the market is not always trending up or down, but may be going sideways. This period can be traded, but may require slightly different approach.
The second principle is that you try and catch the price when it is making a run. For swing trading, you want to find a price that develops momentum, and is likely to continue strongly in the same direction. This requires you to look at a much shorter time span, and consider the message being given to you by technical indicators to see if the price is moving in the direction that you would expect.
The final step in swing trading the Forex market is to determine the right points at which to enter and exit your trade. This is a key part of your Forex trading strategy, and you should make sure that your system is designed to give you a clear signal. Many such systems have the crossing of two moving averages or indicators as the signal point, and it is easy to see this coming and when it occurs.
Other traders learn to recognize candlestick patterns which can accurately portray the sentiment of the market. The Doji, the candlestick that has no body, is often a sign of change and indecision, and can signal a reversal of direction if the other indicators support this view. Alternative successful candlestick patterns include the engulfing and star formations, and they are worth studying as part of your Forex trading education.

My Shocking Forex Megadroid Review by Aaron Roberts

What does 'market adapting intelligence' mean and does it amount to a hill of beans when talking about predicting the movements and fluctuations of the currency markets..?
Developers Albert Perrie and John Grace have just recently launched the latest Forex trading software robot and swear that this software will help you make consistent profits with and 95% and better accuracy rate.
This means that out of every 10 trades, you'll lose on the one and gain on the other nine on average.
If you've ever looked at automated trading software before, you'll know that one of the biggest criticisms was that they were so inflexible and unable to cope with any unexpected changes in the patterns of currency market fluctuations.
This new robot Megadroid signals the dawning of a new age in artificial intelligence -- if the makers claims are to be believed. We're not talking long-term predictions here either, rather short term time frames, say 2, 3 or 4 hours at the most.
This new generation of trading robot is supposed to learn from changes in the market patterns and adapt its rules to make better decisions on trades.This is supposed to give you the advantage when the market becomes unusually volatile.
So how does it really perform...?
Forex Megadroid is being heavily tested publically though it's been privately put through its paces for well over 20 years. It seems to be performing pretty well with people reporting over 90% successful transactions on the foreign exchange trading forums. New users are generally reporting a 10 to 20% increase on their live accounts over the space of one month testing.
What were some of the drawbacks of Megadroid...?
Users had at first reported this software made less trades than they were expecting at an average of only three or four per week. This meant that people had to put more money out per trade to see more profit in a shorter time which of course most people wanted to do. So some people were a bit frustrated on this point. The new version has recently been released that shortens the gaps between trades, with most folks reporting 10 or more per week at present.
I think the situation illustrates beautifully the very reason why trading bots may possibly be a better way to trade.The emotions are taken out of the equation.The trades are based on what the situation is at the moment and what the patterns are indicating. The bot doesn't feel stress and pressure and just trades on the rules.