Forex Trading Tips: September 2010

Tuesday, September 28, 2010

Personal Financial Software

Personal financial software is a wonderful comfort and tool when you are trying to keep your personal finances on track. In a world riddled with a debt crisis, job losses and stock markets volatility it is important to stay on top of your financial state. Personal financial software improves your time management efficiency and lowers your personal stress levels. With personal financial software you can plan, maintain and follow personal budgets and goals.

Keep a track of your income, expenses, taxes and your assets and investments. The right software can also be environmentally friendly by syncing online with your bank or other financial institutions. Paperless transactions and reconciliation is quick and saves all that wasted paper. You can automate your bill pay and savings. This saves all those late fees and embarrassments. Every one has different needs and solutions. I review Quicken, Microsoft Money, Mvelopes, Mint, iBank and QuickBooks as some of the popular personal financial software available.

Personal Financial Software

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Website Trading

Fast, convenient access to your forex trading account. Access all the tools, research and resources you need from any computer with an internet connection - no download or installation required.

Get real time quotes, news and research
Use our interactive charting tools to identify trading opportunities
Trade using a full range of single and advanced orders
Check positions and balances, transfer money, access reporting, and more.

Learn about Website Trading.

FOREXTrader PRO

Designed for active traders looking for an edge, this highly customizable trading platform delivers top performance.

Professional charting tools with 70+ technical indicators
Manage positions and orders directly from the charts
Streaming news and commentary; ticker of major market indices
Advanced customization features

Learn more about FOREXTrader PRO.

Mobile Trading

For traders on the go, our mobile trading solutions deliver the FOREX.com trading experience straight to your mobile device for fast, easy access to your account.

View real-time quotes, monitor and manage open positions
Execute market orders or choose from eight available order types
Browse real-time news, research, and streaming commentary
Trade on iPhone, Android, Blackberry, Palm or other mobile devices

Learn more about mobile trading

Sunday, September 26, 2010

A Week-to-Week Personal Budget

It's all about control

The only reason I've ever fallen behind financially was because I wasn't keeping track of what I was doing. I didn't have control of what was going on with my money. In this case, knowledge is control. Knowing how much money you have, and for what, gives you the control you need to stay "in the black". NOT knowing leads to forgetting: forgetting what you've already purchased, forgetting that big trip to Target or Walmart 3 days ago, forgetting how much you've spent over the past 4 days, etc. All this forgetting leads to guessing: guessing how much money you have left, guessing how much you've spent, and assuming that you have enough, when you're not really sure.

All of that forgetting and guessing comes crashing down when your account becomes overdrawn, and when you finally see how much more you've spent than you thought, and when you see how much less is left than you thought. This is when you start to feel the lack of control. It can make you feel angry, like a failure, depressed, stressed, distraught, hopeless, or even resigned (to the "fact" that you'll always be broke).

But it doesn't have to be that way! Getting back that control is not always easy, but it is always worth it!

Personal Financial Software

Personal Financial Software

http://rcm.amazon.com/e/cm/privacy-policy.html?o=1

Thursday, September 23, 2010

OFFSHORE FOREX BROKERS

So, what have we learned about offshore forex trading? It can be just as risky
dangerous, and more likely to be a form of a gamble like any other kind of forex trading. Hiring offshore forex brokers also needs the same utmost caution and care as any domestic forex broker. Technically, they aren’t really that much different from a regular or domestic forex broker. In fact, many people have grown to dislike off shore forex trading, because of the instability that leads to the unreliability of some offshore forex brokers. Many also have bitter experiences in clinging to much to the exaggerated hopes that offshore forex trading apparently could have brought them.

If that’s the case, then why offshore forex brokers would still be chosen over any other kind of forex broker? What conditions would give us the proper reason to hire them for our business? Why would it even be on the main list of different forex brokers to begin with?

Hiring offshore forex brokers apparently has some advantages that go in line with the same advantages of offshore forex trading itself. Take a look at these two substantial advantages:

1. Tax advantage – many people within this industry know very well that offshore, unlike domestic forex, is not chained to a set of trade laws that limit that generally limit the income potential of your forex strategies. By hiring an offshore forex broker, you can potentially get a tax advantage (depending on the location of your offshore forex broker), which can consequently mean increased income given that the correct choices are made.

2. High leverage trading – many laws around the world have already established limitation to the maximum trading limit possible in forex. This is temporarily ignored by collaborating with they, because you are relatively trading well outside your own country. Of course, like our first advantage, you might well have to research a bit on the laws of the offshore forex broker’s location, just in case you don’t want ending up at a worse position than before.

So as we can see here, the exact instability (country-wise) that they have, can be used to your advantage to improve profits. Remember, always trade at your own risk though, as there is still a significant chance that you’ll lose everything that you have invested in one gamble if you’re not well prepared. It acts as a double-edged sword, a heavy one that almost always lands on you if you’re not cautious enough.

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Wednesday, September 22, 2010

WHAT IS FOREX

The Foreign Exchange Market, better known as FOREX, is a worldwide market for buying and selling currencies. It handles a huge volume of transactions 24 hours a day, 5 days a week. Daily exchanges are worth approximately $1.5 trillion (US dollars). In comparison, the United States Treasury Bond market averages $300 billion a day, and American stock markets exchange about $100 billion a day.

The Foreign Exchange Market was established in 1971 when fixed currency exchanges were abolished. Currencies became valued at 'floating' rates determined by supply and demand. The FOREX grew steadily throughout the 1970's, but with the technological advances of the 80's FOREX expanded from trading levels of $70 billion a day to the current level of $1.5 trillion.

Who Trades in FOREX?

The FOREX is made up of about 5,000 trading institutions such as international banks, central government banks (such as the US Federal Reserve), and commercial companies and brokers for all types of foreign currency. There is no centralized location of FOREX; major trading centers are located in New York, Tokyo, London, Hong Kong, Singapore, Paris, and Frankfurt. All trading is done by telephone or Internet. Businesses use the market to buy and sell their products in other countries, but most of the activity on the FOREX is from currency traders who use it to generate profits from small movements in the market.