Hey I’ve recently heard about Forex and it seems legit. Ive noticed that there are lots of bots available to maximize the accuracy, from experience are any of them legit? and If so which do you recommend. And also what types of charts would be best?
Thannks

I came across a site that talked about forex trading to make money & it took me to a site that sells an automated forex trader, skeptical I googled it & it got good reviews. But if I do purchase this forex trading system what else do I have to do to start making money? Do I have to open an account? What exactly do I have to do? I’m completely new to this. (all criticism & unrelated answers will be ignored v_v)

Those of you who activily trade the Forex. What trading software and charting do you, use? Any complaints or comments. I am not yet paper trading, but will soon.. I would like some feed back. Thanks!

Forex market is complicated but still challenging to get cash from there. It’s about how to trade in this market for long term.

Does anyone play the forex market? and what strategies do you have to reading the charts. i can never figure it out. Can someone help me to make a trade based on the current chart situation, and what factors do i need to look for in order to make a successful trade? Thank you in advance.

I am unemployed. I have tried Forex trading but I am just breaking even. Do you have any tips on how to succeed? Thank you!
Thank you all, in particular Suzanne for all the tips and Lucas for the Robot. That robot thing is intriguing. Is it for real? Anybody heard of forexapt.com?

I am dealing here with the forex market. Also I would like to have an idea as to when the ‘big boys’ are making their moves using the 4 hour charts.

How can one trade forex in a manner that least resembles gambling– over what period of time can one see some logic to a forex trade?

Who are the main players that govern the price levels of currency and what effects do individual traders have?

how do hedge funds trade currencies?

Does technical analysis really work? The idea of of using tech analysis seems so silly–what is the theory behind it?

Any additional information you may have, I’d really appreciate.

Just like the stocks are combined into NASDAQ for example, then why can’t you combine the forex pairs and assign them a mathematical value???

Take a look here:

http://www.fxstreet.com/rates-charts/currencies-glance/

Fxstreet lists 34 forex pairs.

Benefits:
- Less risk.More pairs – less risk. Traders will take advantage because the market is open day/night in contrast to the daily trades among the stock market. That said, the forex traders gain several times more action with reduced risk, thanks to the combination of many pairs at once. No surprises anymore:Think about it: The european bank annouces higher rates, but the expectations were for lower rates. So, if you trade EUR/USD you will lose when you have selled. With such important news you will lose perhaps over 50 pips and if you trade on 100:1 leverage buying more than 1 lot…say goodbye to your money. Even without leverage the big players will lose, unless they utilize some industrial espionage to predict the rates that are going to be anoounced. So…if the one pair goes higher with 50 pips, else will go downtrend with 50, which keeps the balance. Of course if the balance is perfect 50/50 the index won’t move and you will not benefit at all , but in case where you have 50/25 you get your 25 or less if your predictions are in the right direction.

There is one drawback, of course, like anything in life : With so many pairs it will be impossible to rely on any news announcements. Your only hope will be the candlestick chart, perhaps combined with some additional mathematical technics(martingales, random walk avoidance, compound interest) and economical such(hedging, options..).
But isn’t the technical data the favourite to the forex traders?

So far, sadly there isn’t a “forex index” to my knowledge??? So the best you can do is simply make your own “portfolio” and assign it a mathematical value.

I plan to create a computer program(…a can do that , to calculate and trace such index value of about 40 forex pairs. If I succeed, I will post it here with link to website to see the index in action .

Thanks.