Monthly Archives: January 2009

Author : James Woolley

Many people here in the UK are turning to currency trading as a potential method of raising extra money at a time when the wider economy is in a huge downfall It can be done at work on the office computer or it can be done on a full-time or part-time basis from the comfort of your own home So how can UK-based traders actually start trading currencies?

Well we are very lucky here in the UK because we have very nice tax laws which enable us to trade tax-free because any gains we make are deemed as being profits made from gambling, which are of course exempt from tax So if you do make any profits you do not have to worry about declaring this income

There is an exemption to this rule and that’s if you trade through a conventional forex broker There are lots of these brokers online and there are some very good ones which offer competitive spreads and excellent charting facilities However it is rather pointless trading through a normal forex broker if you live in the UK, when you can just as easily trade tax-free

This is why the other two options I wish to discuss make more financial sense The first of these isn’t one I would recommend using, although it is an option, and that’s using one of the growing number of online bookmakers that provide betting on financial markets These provide short-term markets throughout the day such as 5 minute, 15 minute and hourly markets as well as markets based on the closing price at certain times of the day such as 12 00 and 16 30

You can place bets as you would normally using either decimal odds or fraction odds based on whether the price of a particular currency pair will finish above or below a certain level Some websites will also offer slightly more advanced markets which involve the use of binary bets However overall I don’t really recommend you bet on the markets through a bookmaker because if you are successful you will inevitably find that either your account is closed or your allowable stakes are reduced to such a small amount that’s it’s not worth your while placing any bets at all

The final option is the best one, in my opinion, and that’s the now well-established spread betting firms These also provide tax-free betting but are much more professional as they offer sophisticated trading instruments on a wide variety of markets and generally include top quality charting software and trading tools and resources you can use

Furthermore if you are successful you will generally find that the spread betting company will not mind at all because they can simply copy your trades and place them elsewhere to cover their liabilities and possibly make a profit as well

So although you are perfectly entitled to use an ordinary bookmaker or a conventional forex broker to trade the markets, the best option is to use a spread betting company in my opinion Most of them offer spreads that are just as tight as a lot of the top forex brokers and you can trade completely free of tax if you reside in the UK

Click here to read a full Tradefair review and to discover lots of free tips and strategies relating to forex currency trading including the exact 4 hour trading strategy that James Woolley uses to trade the markets. Continue reading →

Author : Amit Kheterpal

As we go through our working life we never even think about retirement or other life crippling exigencies that can occur in our life Retirement is one such thing where you will need a good amount of money to sustain yourself as well support your kids in times of their need

As usual nobody gives though to these while working and we always keep it for the day when we will retire That is never easy and by the time you retire you will have nothing to put in the bank and that will cause a whole lot of worries at that time

To make sure that you are free of worries you need to have enough money in your bank account so that you can have the retirement peacefully The secret to that lies in your investing habits as well in your spending habits

Most of us do not think twice before spending because we know that the next pay check is round the corner But not in the retirement time and hence we need to be doubly sure about what and how we spend

We always assume that we can save by ourselves in a disciplined manner but usually does not happen so your best bet is to take the help of a financial planner so that he can help you out by building your portfolio as well as make sure that you have good liquidity at hand when needed He will tell you of the avenues which you will not even know existed

So engage a financial planner and let him guide you through the process Think of him as your beacon of hope and light He will make sure that you have a written down plan and that plan will be your yardstick to measure your success

Saving money is never easy and an expert will make it easy for you as well as make sure that you build a good retirement corpus He will make sure that you the concepts of time value of money and inflation and it is this inflation which can usually play havoc with your savings

Think and act fast and engage the services of an expert and that will give you the peace of mind that in your retirement time you can live as lavishly as you are today and you will not be short of liquid cash

The author writes about beginners forex trading and helps with forex trading strategies Continue reading →

Author : Mary McArthur

Knowing when to exit a forex trade is considered as one of the most difficult aspects of forex trading This topic is going to be discussed below Previous articles in this series on no stop , hedge forex trading have covered, Forex trading without stops, and, Forex trading not caring which way the price moves

How often have you exited a Forex trade positively and then looked on as the price travelled another 100 pips in the same direction? Alternatively how often have you tried to squeeze the last 5 pips out of a good Forex deal and then watched as the price retraced all the way back to your entry or even beyond? We have found this area of knowing when to exit a forex trade, one of the most frustration parts of trading

When you enter a Forex trade all the trading signals are aligned and you can tick all entry criteria on your checklist That is why the entry is the easy part You are entering on your terms When the price takes off in its intended direction it enters a mystery zone where you are dependent of the volatility of the move for the Forex transaction to succeed You very seldom have reference points When to cash in, or not, is always the question on every traders mind The fact that the price likes revisiting previous support or resistance makes this even more challenging

It gets worse on Forex trading deals that go negative You are 30 pips down Do you close the deal at a loss or do you wait for a small retracement to reduce your loss? Surely the price has gone as far as it can go?

It can’t go more negative? Then suddenly (oops) the deal goes even more negative You start thinking: “I’ve lost so much another 20 pips can’t hurt I’ll give it more room” And so on We’ve all gone through that at some time

With Grid trading you don’t have that problem You would divide the expected trading range for a particular currency for the next say 6 months (say 4000 pips) into grid levels with gaps of say 200 pips Now the guesswork of when to cash in your positive deals is taken away Every time the price touches a grid level you cash in your positive deals It is as simple as that As soon as the total of the deals you started with is positive, you close all your deals positively and start again How simple can trading be? No ifs, buts or maybe’s That is why you don’t need charts You trade price levels, with no stops (Because each price level has a buy and sell active) and you don’t care about which direction the price moves

This also answers our question of when to enter a Forex trading transaction You would use the same price levels that you use to exit profitable deals (as determined above) as the entry levels for your no stop, hedged, Forex trading grid system strategy The process of determining the price levels is very important as some trading groups are reporting gains of one thousand percent a year on capital employed using this Forex trading technique

The above way of determining grid levels is an example As you will see in future articles grid levels can be designed to meet the trader’s requirements in many more ways For more information (which is freely available) on this great trading system why not search the web for “no stop Forex trading”

This is article three out of seven articles on the no stop, hedged, Forex trading technique, all of which will be accessible in this article directory on an ongoing basis In order to get the complete picture do not miss any

Learn how you can make money from Forex Trading by tapping into Mary McArthur experience by visiting hedged, grid alerts or grid system . You can get a free monthly forex trading magazine from these sites. Continue reading →

Author : Mary McArthur

Often currency traders battle to find a reliable set and forget forex trading alert services which are convenient, profitable and easy to follow They dream about copying the daily currency recommendations into their Forex broker dealing station and watching their trading account grow into millions of dollars

Recently over 250 online currency trading alert services were reviewed and alert services like the one described above do exist!

The big challenge to the average Forex Trader is firstly, finding currency trading signal services that fit the success mould and then secondly, making sure that the service is above board (credible) This article will address the first question of how to find possible Forex trading alert services to consider

The method mostly used by many currency traders is to search the Web using a good search engine and then to slowly search through the results to find say 20 ones to consider for evaluation This is a good starting point but remember to uses appropriate search terms For instance Forex trading signals, Forex trading alerts and Forex alert service bring up different results This may seem like hard work but always use your trading dreams as a motivator While you are on the search engine results pages do not neglect the paid adverts to further increase your chances of finding great Forex trading signal services You can find some unexpected gems clicking on these

Another good place to search for great Forex trading signal services are Forex service review sites Some of these sites give objective and paid reviews of many Forex trading alert services on the market and allow users to post comments on their own personal experiences Some of them list over a 100 currency trading alert services so your job can be reduced considerably These are probably the best source of good Forex trading alert services, as you get direct user feedback as well We have also found these to be one of the best guides to the creditability of alert services Use search engines to firstly find the review sites Most of the review sites offer direct links to alert services providers

Currency blogs or discussion rooms / forums are again a good source of alert service information Going into discussion forums is a lot more time consuming and your return on effort will be less than the methods already mentioned We use this method to check on the credibility of a service rather than finding a service

Word of mouth is an often overlooked method Use your network of other Forex traders to enquire whether they have had any good experiences with Forex trading alert services

Using the methods above alert services producing 27 000 pips a year and returns of between 200% and 1000% on capital used, have been found Not a bad investment of time and effort but 250 alert services had to be researched to get there You too can benefit from following the process described in this article and well as the articles to follow It is well worthwhile

The recommendations in this article should provide you with between 20 and 50 currency trading alert services to consider How you then water these down to the few that will make you money is the subject of the next articles to be published in the article directory Make sure to watch out for them

Learn how you can make money from great Forex Trading alert services by tapping into the experience that Mary McArthur has in this field by visiting a UK and US hedged service or New York alerts . Here you can subscribe to a free monthly Forex trading magazine. Continue reading →