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Several have asked me what is Forex?  So I’m going back to the basics for those who don’t know but may be looking for a new opportunity.  Forex simply stands for Foreign Exchange and it is the exchange of one countries currency for another countries currency.  Forex is a non-stop cash market open 24 hours a day and 5 days a week.  Currencies constantly change in value and the Forex system allows you to trade the currencies just like you would stocks on the New York Stock Exchange.  One difference for me is the level of excitement that the Forex market can bring.  The prices are constantly changing and volatile markets offer profit opportunities.  Because of the huge liquidity of the market, trades are done on leverage.  This give you much bigger buying power with less money.  Most brokers offer 100:1 leverage, some more than that. The Forex market has been around for some time, its only been recently that its been opened up more to individuals or retail investors to use thanks to the home pc and internet.  The Forex market is one of the main ways our large financial institutes make money.  By taking the money you deposit and trading it, buying and selling currencies as their value increases or decreases.  Like with the stock market, there is risk.  Trading with Forex take practice and skill.  If you have the patients to learn however, it can be a payoff.  I currently have a practice account with FxClub and in some days have made as much as $900.  If your up for something new, that truly does have a winning potential or just want a new challange, give Forex a try, but start with the free practice account first! 

The EUR/USD continued to be a winning pair so far today with it at a new record high.  Annalist believe that its going to keep going up as well.  This position has been a profitable one for me as its up over 230 pips. 

 If you’re new to the Forex market or have no idea what I’m talking about, be sure to check out FxClub if your interested in learning to trade on the Forex market.  It’s free to learn, and gives great flexibility since the market is open 24 hours a day.  Get started learning today!

I’m going to start my blog today by telling you about the perfect car scam that dealerships use everyday in this country and make hundreds of thousands of dollars off unsuspecting customers.  The scam is the promotional sale, the “big event” as its made out to be.  It starts by a dealership teaming up with one of the promotional groups to put on the event.  They print and send out flyers to address in all the surrounding areas.  The flyers make claims of huge savings and deep discounts. Read more…

Well to day was a great day for the EUR/USD on the Forex market.  Right now it is up over 100 pips!  I took a long position this morning a 1.4900.  It is now trading over 1.5000.  This has recently become my favorite pair to trade bcause of its less volatile nature so I was supprised with such a large swing in one day.  Following the advise of another trader, he said pick one pair and become an expert on that pair, this is the pair I trade on most and with the most sucsess.  Over the past month I have made profitable trades on this pair almost every day.  It is one I would recomend for anyone getting started but still be mindfull of the risk.

Thank god is an election year.  I think this has been the longest 7years of America’s life.  I think that the current rule over the United States has taken us so far backwards as a nation that it will takes years to recover.  The current administration seems only to focus on big business and oil.  Our relations with other countries couldn’t be weaker.  We are in a time when the economy is falling apart and the only real winner today is the oil companies who continue to report record quarterly profits.  I have never been affiliated with a political party, however the current times make me sick to think of ever calling myself a republican.  I think I will continue to be non-affiliated but pray that a republican never gets the opportunity to lead our country again.

In the Forex market this has got to be one of the most tempting trading pairs alive.  Its not uncommon at all a couple hundred pip swing in a day, sometimes within minutes.  It is a very volatile pair which cause massive price fluctuations on a daily basis.  One thing to remember though, with the heavy swings in this pair and possibility to make huge profits, is the risk of huge losses as well.  I would recommend this currency pair to the most seasoned Forex trader.   With what little time I have been trading Forex, I have had many successful trades with pairs like EUR/USD, AUD/USD, GBP, USD, but usually every trade on the GBP/JPY was a loosing trade.  There are many annalist that publish daily tips on this pair as well.  I tried following the daily tips of the pros and still found it hard to keep up with this fast moving pair.  Enjoy the opportunity the Forex market offers, but use caution when picking your trading pairs.