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August 25 2013

Q: Can anyone recommend a website which invests in the forex trade with investors money so I dont have to?

forex broker

Q&A: Can anyone recommend a website which invests in the forex trade with investors money so I dont have to?

I want to trade in forex but would rather get an agent to do this,does this happen? and can anyone recommend a website to do this?…I am not looking for scam HYIP websites

goldsenze.com Answer:

That’s right…. there’s plenty of legit web sites/brokers that trade in Futures & Forex for clients. They are not hyped & to a large degree are “legit”. Most of the traders that are successful & trade for average sized accounts $ 10,000 – $ 500,000 can do well…. at times. Other times they can easily lose 50% or more of an accounts value. This happens especially with the ones with outrageously high returns for a small period of time.

Even though you won’t be trading, you need to understand the market in order to pick the best trader. Read some books. Read some magazines;

http://www.currencytradermag.com/

http://www.futuresmag.com/

You should also understand how even some of the most respected large and small firms blowup and destroy account value (ie: PFG);

http://www.futuresmag.com/2012/08/20/pfg-victims-give-trustee-f-in-communication?ref=hp

PFG Traded customer accounts for Futures and Forex. They were one of the biggest firms out there. Fraud brought them down.

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August 23 2013

FAQ: Is it possible to lose more money than you invest in Forex trading?

Q: Is it possible to lose more money than you invest in Forex trading?

They have those auto pilot programs that have you invest 50 dollars starting. Not a huge investment, and wont spit out a lot of money in the long run, but If you invested 50 dollars in a forex program, is it possible to end up owing more than you invested? Or is it just that you can lose 50 dollars and end up back at 0, and not in the negative? Just curious.

Goldsenze Answer:

i think it is, unlike stock your losses and gains are theoretically unlimited.

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August 20 2013

August 19 2013

Q&A: What is the best Forex trading strategy? – goldsenze

forex trading

Q: What is the best Forex trading strategy?

I want to know your Forex strategy, when to buy, when to sell, when to wait.

www.goldsenze.com Answer:

You’re in for a big, rude surprise….. there is no such thing. Day Trading Forex, Stocks etc can take 3-5 years to master…. assuming you’re not one of the 95% that fail within the first year.

To believe someone could pass this type of information on to you via Yahoo Answers means you’ve got a lot to learn. Trading is an art & a science. Two of the most important factors are psychology and trading money management. Technical Analysis is less than 50% of the “formula”.

Two of the most well known FX Traders wrote a book titled;
Millionaire Traders
This book by Kathy Lein & Boris Schlossberg will be the start of many books you’ll need to read…… Start here… so you at least get a sense of what you’re up against.

http://www.amazon.com/Millionaire-Traders-Everyday-People-Beating/dp/0470452544/ref=sr_1_1?s=books&ie=UTF8&qid=1299186948&sr=1-1

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August 17 2013

No-commission forex trading site with tight spreads?

Q&A: No-commission forex trading site with tight spreads?

I’m looking to get into forex trading, of course first practicing with a practice account first for a while. What’s a good site where I could start with practicing and would later on have no commission trades and tight spreads? Preferably, a site that allows microlots would be great. Any suggestions? Thanks.

Goldsenze Answer:

With OANDA, you can have no commission, tight spread, and lot as low as USD 1.

http://fxtrade.oanda.com/

Forex Trading http://www.tradingcollege.co.uk/fxwebinar Forex Trading is the process of trading within the foreign exchange market (also known as the FX or c…

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August 15 2013

FAQ: What is the best Foreign Exchange (Forex) platform out there?

FAQ: What is the best Foreign Exchange (Forex) platform out there?

I’m thinking of going into the Forex market but I’m doing my research first. Which one do you think is the best and why?

www.goldsenze.com Answer:

It’s not depend on platform its depend on best quotas means not repeat quotas. Platform doesn’t matter the thing matter is price movement where its headed.

look one for that offers low spreads.

If you traded in the Forex market before or if you’re still trading now, you may have heard the term Forex broker a lot of times. However, as an individual t…

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August 14 2013

What is mean by hedging in forex trading. Plz explain?

forex trading

Q: What is mean by hedging in forex trading. Plz explain?

What is mean by hedging in forex trading. Plz explain. thanks

www.goldsenze.com Answer:

Hedging means:

Corporations in which individual investors place their money have exposure to fluctuations in all kinds of financial prices, as a natural by-product of their operations. Financial prices include foreign exchange rates, interest rates, commodity prices and equity prices. The effect of changes in these prices on reported earnings can be overwhelming. Often, you will hear companies say in their financial statements that their income was reduced by falling commodity prices or that they enjoyed a windfall gain in profit attributable to the decline of the Canadian dollar.

Read more of it below:

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August 12 2013

Q: How was your Forex trading impacted by the recent market activities? – goldsenze

forex trading

FAQ: How was your Forex trading impacted by the recent market activities?

I am just wondering how different people were impacted by the stock market movements these past few days. Where your Forex accounts impacted as much or less than people with stock and mutual funds accounts?

Answer:

The news affected my long stocks although some have recovered pretty well. One coming up to earnings next week (NTO) gained back everything and a little more. I had opened up 3 shorts on Monday morning (IMGN, PRXI and MEH) that far exceeded my expectations because of the China sell-off. Two longs I also opened on Monday got dumped (OPSW and ACTU)

I’m making a killing on the USDJPY. Sold $ 100k on Sunday when it broke 121, sold another 200k late Monday night when it broke 120 and did another 100k Tuesday morning when it broke 119. Closed out 300k today at 116.73 and am holding the other 100k over the weekend.

Between stocks and Forex, this is one of the best weeks I’ve had in quite a while.

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August 10 2013

Q&A: Forex seems to be more difficult to profit than the stock market? – goldsenze

Q: Forex seems to be more difficult to profit than the stock market?

I trade stocks regularly but was wondering if anyone found Forex more appealing than trading the DOW, NYSE or NASDAQ? Also, has anyone profited more than they thought they would? Please no answers trying to sell me your proven methods. Thanks.
Poloman1690, thank you for your honest answer and the link.

Goldsenze Answer:

Tough question. Pretty much you are just speculating which way the currency will go without any true analysis.

Go ahead and give me the thumbs down but there are no earnings or financial statements to make an educated guess. Sure there will be some who make money at this moment but who knows about the future. Someone could think that selling crack is a great investment but they will get burnt at some point.

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FAQ: Volume indicator for forex markets?

Q: Volume indicator for forex markets?

Hello, i trade forex markets and i want to find an indicator similar to “volume” which i use when i trade commodities because this indicator is very critical in my trading disicions. Can someone help?

goldsenze.com Answer:

Hi buddy,

due to the decentralized nature of forex, there is no real volume. The best volume you can get is only your broker’s.

Do read my article on what forex is at my forex learning blog to understand more.

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August 09 2013

Question: What is the best platform for Forex Trading?

Q&A: What is the best platform for Forex Trading?

I want to invest in forex market.It seems more hopeful in future.which plat form gives the best analysis and free practice account with some bonus.I need real answers!!!!!!!!

www.goldsenze.com Answer:

I suggest you to try Marketiva, they give you 5$ bonus on account opening and there is no need to deposit.

Here you can find more details: http://www.brokers4forex.com/preferred-forex-brokers/marketiva-trade-forex-with-5-free.html

In this site you can also find reviews of other brokers

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August 06 2013

Question: what is the best EA (max profits, min drawdown) to run automated forex trading with metatrader 4 (mt4)?

forex market

FAQ: what is the best EA (max profits, min drawdown) to run automated forex trading with metatrader 4 (mt4)?

EA is a file that can compute and perform trades in the MT4 application – the forex market, for brokers that support mt4.

Answer:

I think Forex Tracer is the best out there at the moment which works with mt4. The Forex Tracer is USD/EUR pairs.

http://www.forextracer.forexrobotreviews.com

Or if you want USD/JPY pairs then you should be considering Forex Funnel.

http://www.forexfunnel.forexrobotreviews.com

Good luck

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August 05 2013

Q&A: which forex brokers allow to withdrawal by other or different payments methods?

Question: which forex brokers allow to withdrawal by other or different payments methods?

for example i want fund by master card then withdrawal my profits by money bookers or perfect money or any other methods.

goldsenze.com Answer:

No legit broker would allow funding by credit card.

Your proposal looks so much like money laundering that it would likely fail KYC (Know Your Customer) rules.

If you think forex is a source of easy profits, you are badly misinformed. It is one of the most challenging markets, and full of scams (robots, EAs, systems, binary options, etc.).

Please read the CFTC (US regulator) warning below.

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July 29 2013

Question: Is Forex trading a good way to make money?

forex market

Question: Is Forex trading a good way to make money?

I need some opinions from experienced people about money trading in Forex. Is it really that risky?

www.goldsenze.com Answer:

It’s with nearly every market trading: If you know the market and know what is most likely to happen, you can’t go wrong with forex trading.

But if you think it’s not risky and you will earn money anyway with forex trading, I would suggest keeping your hands off it.

Just start reading about forex trading and learn what you need to know and see where it takes you.

But I would suggest learning by reading first instead of learning by failing.

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How much money should you have in your FOREX acount in order to earn an income?

FAQ: How much money should you have in your FOREX acount in order to earn an income?

I am planning to add funds to my online FOREX account and I am wondering what would be the appropriate amount of money to start off with in the account to where I can generate enough revenue to earn an income off my profits. I know you need at least $ 1000 just to play in the market but that amount is not enough to make money on. What would I need to have in my account to where I can start compounding the little profits that I make here and there?

Answer:

Earning a living with Forex is dependent on three factors. First, your starting account balance. Second, your actual performance level. And third, your living requirements.

If you are opening an account with $ 500…the answer is no…you will not be able to make a living at Forex. Even $ 1000, $ 5000, $ 10,000 or $ 25,000 would not be enough of an initial account size to make a comfortable living in the Forex market.

The next area of importance is your skill as a Forex trader or the effectiveness of the strategy that you follow. If you are a 50/50 trader and win on half of your trades and lose the other half you cannot make a living at Forex. If you have the time, the patience, the discipline and the knowledge to make at least 20 pips in 4 out of 5 days of daily trading you may have a good shot at making a living from the Forex market.

If you are looking for the best forex software, visit this site

http://the-best-forex-software-in-internet.blogspot.com/

This software is the best software that can help increase your trading profit and user friendly.

Best Wishes,

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July 28 2013

F-1 Visa student wants to trade in Forex market?

forex broker

Q: F-1 Visa student wants to trade in Forex market?

Hi, I have just recently came to US and would like to know if i can trade in forex market on F-1 Visa. My VISA prohibits me from working outside the campus but i am not sure if forex market trading comes under that. Also I can open an account with UK forex broker if possible

Someone please suggest me.

PS – I know forex is very risky business.

Goldsenze Answer:

Open a UK account if you can. US regulations are so stupid, you would be a lot better trading oversea’s. You won’t be reported but if you transfer large amounts to a US bank account, the bank will report the transactions and you will have to explain yourself. Good luck and try not to lose it all in the first week.

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F-1 Visa student wants to trade in Forex market? – goldsenze.com

forex broker

Question: F-1 Visa student wants to trade in Forex market?

Hi, I have just recently came to US and would like to know if i can trade in forex market on F-1 Visa. My VISA prohibits me from working outside the campus but i am not sure if forex market trading comes under that. Also I can open an account with UK forex broker if possible

Someone please suggest me.

PS – I know forex is very risky business.

www.goldsenze.com Answer:

Open a UK account if you can. US regulations are so stupid, you would be a lot better trading oversea’s. You won’t be reported but if you transfer large amounts to a US bank account, the bank will report the transactions and you will have to explain yourself. Good luck and try not to lose it all in the first week.

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July 24 2013

FAQ: A good place to learn forex trading? – goldsenze

forex trading

Q&A: A good place to learn forex trading?

A good website for free training/learning about forex trading? im a newbie in this and is serioudly interested.

Goldsenze Answer:

Something I read in money magazine.
More than 90% of new forex users lose money their first year out.
Careful of scammers.
They know you will lose money and never really invest your money in the first place.
Others scammers can see your moves before you make them (remember they program the software themselves) and play against your moves.
Google:
Forex Scams
Days, if not years worth of reading.

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July 23 2013

Q: Has anyone used Kishore’s system of forex trading? – goldsenze

FAQ: Has anyone used Kishore’s system of forex trading?

Has anyone used Kishore’s system of forex trading? Did you make the money that he advocates? Would a novice manage his sytems? Does he recommend a broker or can I use any broker?

www.goldsenze.com Answer:

None of these forex systems work.

Think it through. Forex is an enormous market where most competitors are experienced professionals. If anyone had a system that generated consistent profits, it would be worth $ millions. The owners of the system would make themselves wealthy by trading. They would not sell the system for small amounts. They certainly would not give it to you.

Read. Study. Take a class. Learn to invest for yourself. Do not foolishly depend on tips.

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July 17 2013

Q&A: How do I know if a stock is on the for-ex market?

Q: How do I know if a stock is on the for-ex market?

Excuse my lack of knowledge, I am just getting started with trading…

How can you tell if a stock is on the foreign ex? I don’t want to be hit with any
surprises by my broker if I happen to buy one of these stocks.
How do I know if it is a foreign stock?

Answer:

The only thing traded on the forex market is currency. That’s why it is called the FOReign EXchange market.

If your broker tries to tell you otherwise, fire him!

Apologies for the quality of the video. ECN brokers list http://www.100forexbrokers.com/stp-ecn-brokers FSA website http://www.fsa.gov.uk/ Exponential Club W…

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