FOREX: ForexGen Demo Accounts Contest

Showing posts with label ForexGen Demo Accounts Contest. Show all posts

Monday, January 12, 2009

Short-Term Forex Technical Outlook: EUR/USD

The euro is likely to face increased selling pressures throughout the week as the European Central Bank is widely expected to lower the benchmark interest rate by 50bp to 2.00%.

Currency Pair: EUR/USD

Chart: 60 Min Charts

Short-Term Bias: Bearish

Analysis

The euro is likely to face increased selling pressures throughout the week as the European Central Bank is widely expected to lower the benchmark interest rate by 50bp to 2.00%. After dipping to a low of 1.2329 on 10/28, the pair bounced back to reach a high of 1.4720 on 12/18, but the lack of momentum to end the day higher indicates that investors are bearish against the pair.

We may see the EURUSD continue to work its way lower over the week, but the oversold RSI signal paired with the divergence from the 120 SMA suggests that the pair may pull back towards 1.3500 before working its way to the downside.

[ForexGen Demo Accounts Contest]

Win Cash Prizes

[ForexGen] has the pleasure to announce the launching of the Demo Account contest on the first of every month.

Interested clients who wish to participate in this event shall send an e-mail request on demo.contest@forexgen.com including the following information:
- Full name: - Phone number

Also provide us with the following identification document:

" Certified copy of the information pages of account holder current valid passport or government issued photo ID"

After we receive your request we will provide you with further details and with your [demo account] login information which will be used in the trading contest.

By the end of each contest:

1. All participants that manages to open at least 20 lots will be awarded a Live Account with $50 credit
2. All participants that manages to open at least 20 lots and keep their demo account initial balance will be awarded a Live Account with $100 credit
3. The highest 5 accounts with the highest profits (including the floating P/L) will be awarded a Live Account with $250 credit.

The contest starts on the first Sunday of each month at 10 pm GMT and ends on the last Friday of that month at 10 pm GMT.

Sunday, January 11, 2009

What is the best Strategy?

The best Forex Strategy is one of the things you are searching for
in internet if you are a trader, right ?Have you found the best one
that can make you rich and produce a lot of money ? I don't think so,
WHY ? The reason is simple; there is no best strategy all over the
internet. One strategy might be working for you but can not work for me .

There are a lot of Free Forex Strategy that you can find and they can
work for you as long as they are "suitable" for your attitude,discipline
and emotions.

Lets take examples ; Simple Strategy ( consistig of 3 indicators) and
Complex Strategy( consistingt.of 8 indicators)

A simple one is the one that takes only a few second to decide or to
read the signal, and a complex one is the strategy that need you to
compare one indicators with other indicators and takes time to decide.

If you are kind of trader that can not sit in front of your desktop
for a long time,why you should you use a complex one ? You'd better
choose a simple strategy;quick and straight forward. And on the other
hand, if you are a trader that can observe your monitor all the
time you'd better choose a complex one.

I have used a lot of Forex Strategies; free and paid ones but only
few of them suits me. I really know that most of them work as
publishers advertised but not to all traders.

Six month ago I purchased one strategy and many traders said in
various forum that they can make money from the strategy but one
I used in demo platform I feel that I was just like studying
mathematics at High Scool, because I had to compare and look at
many indicators that used by the strategy. I could not do it and
Iam too old to do that like a school boys. But the funny things is
that I can still see my name in their testimonial.He...he...he...
And I know that the strategy is good but If I continue using it
with the real money I will loose. I could not follow that type.

As a guideline to you; you can try as many strategies as possible
but in demo version, and observe it whether you can relax using
the strategy or just a handicap for your trading.

You should learn how to choose and fit to your attitude. I believe
you will get the best one but for you.

[ForexGen Demo Accounts Contest]

Thursday, January 8, 2009

US Consumer Credit Fails to Support Economy

US Consumer Credit change for November contracted by $7.9B, in sharp contrast to the forecast for no change and previous month’s $2.8B drop. Consumer credit change reached a record contraction with sizeable declines in non-revolving credit and an increase in revolving credit.

The report is showing a preference for revolving credit, which suggests consumers are paying less on balances to maintain their previous standards of living – a dangerous prospect considering the level of default in the market. This is yet another sign that the economy is heading into a deeper recession.

[ForexGen Demo Accounts Contest]

Tuesday, January 6, 2009

Forex Trading Is Driven By Five Top Economic Indicators

Many factors affect Forex trading. It is critical to know and understand the various factors that cause the Forex to fluctuate from day to day. The foreign exchange market will change depending on the economic factors that play a role in the movement of currency.

Economic factors and indicators are released by the government or by private organizations that can look in depth at economic performances. These indicators can be used to analyse economic performances from any country. The economic reports measure a country's economic health, in addition to government policies and current events.

For the most part, a reputable broker can look at economic indicators and know which trades will be best. Reports on these indicators are released at scheduled times and can tell if a certain country is experiencing improvement in the economy or if the country's economy is on the decline. When the prices fluctuate, a great deal one way or the other, the price can be affected.

Current events and the state of the economy in any given nation is one of the top economic indicators used when analyzing the Forex. Factors such as unemployment numbers, housing statistics and the current state of a country's government can all affect changes in the Forex. When a country is feeling optimisitic about the current state of affairs in their country, prices of the Forex will reflect this. When a nation experiences political unrest, large amounts of unemployed workers and inflation, the rate of the currency will be reflected. Sometimes, this indicator tends to be overlooked, but can serve as an important gauge in the fluctuations of the Forex.

The gross domestic product,or GDP,is another economic indicator used when looking at the foreign exchange market. The GDP is considered the widest and broadest measure of the economy in a country. The gross domestic product represents the total market value of all goods and services that are normally produced within any given country. This is usually measured in the time frame of a year, and not in weeks or months. Using a larger time period gives good statistics on the products and services that are produced in the country. This indicator is not used alone when forecasting the Forex. The GDP is considered a lagging indicator, meaning that is a measurable factor that changes after the economy has already began to follow a certain trend.

[ForexGen Demo Accounts Contest]

Monday, January 5, 2009

Why Do You Want to Become a Online Trader

Most people never master trading because it seems difficult to win and they seldom have access to an experienced, successful trader or trading methodology that actually works.

They usually go it alone or attend countless seminars and read even more books. Not that reading books are bad, but in most cases, nearly but not everyone ever reaps excellent results.
How do I know this? Because I have actually been there…

Trading successfully is difficult if you do not know what you are doing. Let me show you how to achieve trading success and shortcut your learning curve dramatically.
If you have a strong desire to succeed, put in a little work and after a bit of practice, it will become easy.

[ForexGen Demo Accounts Contest]

Sunday, January 4, 2009

Trend Following Forex

Simple Steps to Catching Big Profits

If you want to catch the big profits in forex trading you need to trend follow forex trends which are longer term. Here we are going to give you a 3 step simple method which if you use it correctly, will help you catch every major forex trend and lead you to long term currency trading success.

Most novice traders don't bother trying to trend following forex longer term - instead they try forex scalping or day trading. These methods focus the trader on small moves and they hope to catch small profits however as most short term moves are random, this leads to equity wipe out.

The other choices are swing trading and long term forex trend following and this article is all about the latter method.

If you look at any forex chart, you will see long term trends that last for months or years. These moves can and do yield big profits - here we will outline a simple method to catch them.

Breakouts
By far the best way of catching the big moves is to use a forex trading strategy based around breakouts. A breakout is simply a move on a forex chart where a new high or low is made and resistance or support is broken.

It's a fact that most major moves start from new highs or lows.

[ForexGen Demo Accounts Contest]

Wednesday, December 31, 2008

Cost of Buying Euros is Now at a Record High

The euro hit record highs against the dollar yesterday as the $1.51 level was breached in afternoon trade.

This was on the back of the US Fed’s Chairman indicated more interest rates cuts were on their way in the US. The euro climbed as high as $1.5143 after comments named worries on economic growth outweighed inflation concerns.

Also, investors are getting a sense from European Central Bank officials that they don’t mind a stronger euro and may be encouraging it in the face of higher inflation rates. The single currency also gained over 1 per cent against sterling as the 0.76 level was breached, currently trading at 0.7621.

[ForexGen Demo Accounts Contest]

Win Cash Prizes

[ForexGen] has the pleasure to announce the launching of the Demo Account contest on the first of every month.

Interested clients who wish to participate in this event shall send an e-mail request on demo.contest@forexgen.com including the following information:
- Full name: - Phone number

Also provide us with the following identification document:

" Certified copy of the information pages of account holder current valid passport or government issued photo ID"

After we receive your request we will provide you with further details and with your [demo account] login information which will be used in the trading contest.

By the end of each contest:

1. All participants that manages to open at least 20 lots will be awarded a Live Account with $50 credit 2. All participants that manages to open at least 20 lots and keep their demo account initial balance will be awarded a Live Account with $100 credit 3. The highest 5 accounts with the highest profits (including the floating P/L) will be awarded a Live Account with $250 credit.

The contest starts on the first Sunday of each month at 10 pm GMT and ends on the last Friday of that month at 10 pm GMT.

For more information about our current and future promotions, kindly contact one of our customers support agents at promotions@forexgen.com

Tuesday, December 30, 2008

A Simple Explanation to The Margin Call in The Forex Market

A forex broker will close your open position(s) immediately if the equity in your trading account drops below the margin requirement. This to prevent you from negative account balances.

For example:

Assume you have a trading account with $20,000 and margin requirement is set to 100:1. Without any open positions, your usable margin is $20,000.

Getting a margin call scenario:

You use $15,000 to buy 15 lots of EUR/USD, you now have $5,000 of usable margin left. This means that you are allowed to lose $5,000 on the open postion before you are under the margin requirement.

Formula: Usable Margin = Equity – Used Margin

In the event EUR/USD moves in the opposite direction of what you believed would happen and you don't close your position to prevent you from further losses, the broker will automatically close it when your usable margin is $0.

You would have lost $5,000 on this trade and the EUR/USD only moved 33 pips against you.($5,000 usable margin /(15 lots x $10/pip))!

Conclusion

Leverage is a double-edge sword and can lead to large losses as well as gains, trading big leverage can be fun because it dramatically increases your buying power BUT in the event a trade moves in the opposite direction of what you believed would happen, it can cost you a lot money. Use risk management tools such as limit, and stop-loss orders to prevent you from getting margin calls.

[ForexGen Demo Accounts Contest]

Win Cash Prizes

[ForexGen] has the pleasure to announce the launching of the Demo Account contest on the first of every month.

Interested clients who wish to participate in this event shall send an e-mail request on demo.contest@forexgen.com including the following information:
- Full name: - Phone number

Also provide us with the following identification document:

" Certified copy of the information pages of account holder current valid passport or government issued photo ID"

After we receive your request we will provide you with further details and with your [demo account] login information which will be used in the trading contest.

By the end of each contest:

1. All participants that manages to open at least 20 lots will be awarded a Live Account with $50 credit 2. All participants that manages to open at least 20 lots and keep their demo account initial balance will be awarded a Live Account with $100 credit 3. The highest 5 accounts with the highest profits (including the floating P/L) will be awarded a Live Account with $250 credit.

The contest starts on the first Sunday of each month at 10 pm GMT and ends on the last Friday of that month at 10 pm GMT.

For more information about our current and future promotions, kindly contact one of our customers support agents at promotions@forexgen.com