The Best Forex News Sites

News, especially international news, is the lifeblood of every Forex trader. However, not all Forex newThe Best Forex sites offer the best, or the most complete information. And since timing and global market analysis is everything in the Forex world, having the most current and thorough information on global events and market conditions will likely influence investment decisions. As in war, getting critical information is the key to victory.

One of the most widely acknowledged Forex news site is BusinessWeek. It is the website of the same magazine bearing its name, and its main advantage is the efficient organization of its news. The latest events on any part of the globe can be easily pinpointed and accessed by viewing the different sections and through a handy search box. And the news reports carried within these sections are of very good quality, being uploaded continuously throughout the day as it happens. There are plenty of topics on forex and even include free access videos. Another great thing about this site is that there are dedicated sections for small businesses and investing, which contain annual reports and stock information. All of these make the site a veritable goldmine of current business events.

Another well acknowledged site is Reuters. This group is well known for its global and very thorough coverage (facilitated by its staff of 15,000 people scattered over 91 countries), and the quality of their site reflects this dedication. What’s useful to forex traders will be the Investing section, and a page called Reuters Financial Products which seeks to educate investors on various business aspects. Reuters also supports FX trading, and a lot of news about the market is available at the site.

Then there is Bloomberg. It also has global and thorough coverage, but what sets this site apart is its dedication to financial data analysis. As such it has a dedicated portion on its home page which displays FX rates, equity indexes, and a lot of other financial information. There is also a dedicated section tackling stocks, mutual funds and even an economic calculator. There are even investment tools provided on site to further assist the investors in analysis.

These three forex news sites are among the most well-cited by several reviews, which all attest to their usefulness in the financial realm. It is best to see each one individually to determine if they will actually be suitable for one’s specific needs and information requirements.

How to Find the Best Forex Training for Trading Novice

Forex Industry is very hostile and multifaceted, so you must mold yourself accordingly. If you are serious about penetrating the Forex industry then you have to start off on the right foot. This means that you have to educate yourself through the best Forex training for novice like you.

You can stumble upon hundreds of Forex Trading courses online. However it’s not easy to determine which one offers the best Forex trading program, especially if you will not focus and be ardent about it. Different courses about Forex trading offer different promises and encouragements so you must learn how to compare and analyze things. The key here is to slow down; take your time and explore every possibility that you can find. Don’t stop and be hook on the first Forex training program that you will see.

Remember, Forex industry has its own language and profound nature. So, as a newbie you must find the best Forex training that will thoroughly discus the fundamentals of trading Foreign currencies; a training program that is perfectly created for beginners. The best Foreign exchange training program must have different stages. That’s why you have to check if the program being offered to you will discuss important trading data; from the basic to the most complex trading methods, strategies and techniques.

Furthermore, it will be helpful if you asked around and probe deeper before officially signing up into a program. Do some serious research; on the net and within the community. If you know an active day trader, you can also ask for recommendations. After that, you must also verify the information and documents that will be presented to you by the training institution you are eying. You must also consider the cost, location and schedule of the program and weight it against your budget and lifestyle.

Keep in mind that enrolling into a Forex Training program is your first investment for Forex Trading, so you might as well ensure that you are not wasting your hard-earned money and precious time. Therefore, you must choose the best Forex training; with regards to your budget, schedule and the program’s nature most importantly. We all know that different information about Forex trading can be easily found via the internet. However, it is also a fact that learning will be more effective if an expert will explain all the bits and pieces about a particular subject.

Forex Trading Made Easy – MetaTrader Expert Advisor

MetaTrader, the famous forex trading platform

MetaTrader 4 is a free-of-charge program specially designed for online trading in the Forex market. The built-in technical indicators allow you to analyze securities’ quotes, whilst the MQL4 network enables the development and usage of automated trading strategies. In order to trade in the financial market, traders need a program that allows them to analyze quotes, make trades and develop strategies.

MetaTrader 4 is a complete online trading package designed for providing brokerage services to Forex markets. The system has all that is needed for brokerage companies and at present, is considered the best online Forex trading platform. Until now, there are over 200 brokerage companies and banks worldwide that are using the MetaTrader 4.

MetaTrader 4 allows you the possibility of developing and using automated trading programs, known as the Expert Advisors (EA), to do the trading for you.

The Expert Advisor is a small program that you can embed/install into MetaTrader software. It is written in a specific programming language called MetaQuotes Programming Language Version 4 (abbreviated to MQL4). It can be switched on and off to automate your trades. It can analyze the chart as any indicator do plus it can, at specific conditions, open, modify and close trading orders for you.

Why Do Average Forex Traders Lose Money?

According to DailyFX.com, A Premier Site For Forex Trading News, Charts, Signals, & Strategies, most forex traders lost money due to poor money management. A lot of traders just do not seem to follow a simple good money management strategy: Take your profit quickly and cut your losses short. Unfortunately, this strategy is actually harder than it sounds because of a few natural, built-in traits that all humans have. Humans are made greedy, fearful and thus, inconsistent. That is why, according to DailyFX again, most traders would probably lose all their money in one single trade right after winning a few.

Making money by trading forex is all about consistently taking profit, no matter how small it is and consistently cut your losses at losing trades. The BEST forex trading strategy is to do all that, plus consistently look for currency pairs that would give you indication of a winning trade. Has anybody done this? sure. Can just ANYBODY do this? I think not. This is why Expert Advisor is needed.

  • It runs 24/7
  • It consistently look for winning trade
  • It consistently cut loses to minimal
  • It has no greed, no fear and very consistent
  • It does all of the above for all currency pairs simultaneously
  • Most importantly, it has ingrained strategies in its mind and will stick to it no matter what

Again, can a human do this? yes. you would need at least 4 PC monitors and probably a few computers to cover the need of the processing power and you, sitting in front of them for hours and hours. Or, you could save yourself from a lot of trouble by using a profitable expert advisor instead.

How To Select The Best And Most Profitable Expert Advisor

There are 4 things that you would have to look for a money-making expert advisor:

  1. High percentage of winning trades – means the EA would detect a lot more winning trades than losing ones. In other word, the EA that has the least drawdown percentage (losing trades).
  2. The least loss in each trade – means the EA has strict stop-loss policy to ensure minimal losses on losing trades.
  3. Software maker/seller that can show proven, Live forex account results that meets both requirements above on their website.
  4. Have huge customer base – indicating satisfaction of the product usage.