Forex Trading Times – When Can You Make Profit?

A question many new Forex traders often ask about Forex trading times: When Is The Best Time To Trade Forex? Unlike the other financial markets, the Forex market closes only on weekends. The Forex market opens for trading Sunday night (5 PM EST) and closes for business again on Friday afternoon (4 PM EST). When the Asian market is closing, the European market opens, then the US market until the Asian market opens again.

So this means to you that you as a trader has total freedom on when to trade.

But not all trading times are equally profitable for Forex trading.

The question is ‘When To Trade?’. We are going to try to answer that question.

Asian Session (Tokyo) (7PM : 4AM EST):

The Asian Forex trading session begins at 7 PM EST (12 AM GMT) and closes at 4 AM EST (9 PM GMT). During this session the most often traded Forex are GBP/JPY, GBP/CHF and USD/JPY. These currency crosses can fluctuate 110 pips.

U.S. Session (New York) (8 AM : 5 PM EST):

The US session kicks of at 8 AM EST and closes at 5PM EST. The US sesssion is quite volatile because of the other markets, stocks and bonds, are higly linked to the USD.The commonly traded traded currency pairs during these Forex trading times are this session: GBP/USD, GBP/JPY and USD/JPY which fluctuate around 95 pips. There is also trading in USD/EUR and USD/CAD.

European Session (London) (2 AM : 12 PM EST)

London is the the most important and influential trading center at a market share higher than 30%. The bulk of all Forex trades in the market are executed out during these Forex trading times because of the liquidity and quick efficiency of the market.

All major currency pairs are traded during this session. For risk loving traders the GBP/JPY and GBP/CHF have very high fluctuations of up to and even surpassing 140 pips.



Source by Huey Davis

A Daily Routine For An Affiliate Marketer

People often wonder what is required to run an affiliate marketing business. Are you one of those people who buy into all of that “lazy late start mornings with a laid back breakfast, switch on the computer and check how much money rolled into your bank account whilst you slept?” It’s time to wake up and smell the coffee because the reality is nothing like that.

Now let’s not get off on the wrong foot, affiliate marketing does not have to be difficult or onerous but it does require input, commonly known as work. The work involved however can be very interesting, somewhat tedious at times but certainly one hundred times better than being in a job.

So let’s see exactly how our working day, as an affiliate marketer, should be.

Well the first part is as the guru’s say, you get up and have a leisurely breakfast, after all it’s your business and you are the boss. This, however, is not a justification for rising late and slouching about in your pajamas or nightie and waiting for a kettle or coffee pot to boil.

Try to rise as early as possible, preferably no later than 7am. and get dressed, have breakfast etc. and be ready to get on with the business of the day.

Virtually all highly successful business people, whether online or offline, tend to rise early so they can clear their personal requirements quickly and be able to get on with the business of the day.

As an affiliate marketer you will need to first:

  • Log on.
  • Quickly check business emails (note: – not personal emails)
  • Check web stats i.e. sales, promos, queries etc.
  • Attend to any admin such as banking, emails etc.

Once all the basics have been done, which can usually take up an hour or two, it’s time to move onto the real business of the day, which is getting more business.

It’s common knowledge, amongst the gurus, that virtually all of your time and energy should be spent focusing on bringing in new clients to your funnel either by providing new products, mailing lists, banners, advertising etc.

This means that the rest of your working day will be spent on marketing tasks. How long you spend on these activities is entirely at your discretion, after all it’s your business and you are the boss. Do remember, whilst you may be the boss, there are no real employees and the buck really does stop with you, even if you do use outsource sections of your business.

This is not the best place to go into the nitty-gritty of particular tasks that are required to be done. Needless to say the more skilled you are at a particular task then the less time it will take. All tasks require a certain amount of time and effort and as an affiliate marketer it is up to you to choose the amount of time and effort you want to spend on your business.

The rest of your working day could in theory just be a case of say, updating your blog, chasing affiliate payments or, on the other hand, it could involve numerous hours.

How many hours?

Well, to be perfectly truthful you could be sitting at your computer until the wee small hours and you will find that many a successful online marketer puts in that level of effort. It all depends on how badly you want to succeed.

Suddenly that lazy day lifestyle you were sold is nothing but a fantasy, you may well end up working harder and longer than you did when you had a job.

What’s the solution?

In a simple one-word answer, it’s PLANNING.

Plan your day and stick to it rigidly. Stick to it rigidly at first and then when you are comfortable with the routine you can start to ease back. By now you will know what works best for you, where you are able to make the most profit and more essentially you will know how much time and effort you are prepared to put into your business.

Now I bet when you read the title of this article and you started to read it you thought you were going to see a list of specific tasks that you would need to tick off in order to complete your daily effort. If you did then this is the old job mindset kicking in.

Now that you are an entrepreneur, boss or whatever titles you may want to give yourself, you have to think differently. Everything you do in YOUR BUSINESS reflects on your lifestyle, big time. So if you want to have that laid back dream of getting up late, slouching around and checking your bank account then you are going to have to either win the lotto or work hard to set it up.

I hope this article has helped you to understand that running a business, even an affiliate marketing business, requires a new paradigm. To quote a very famous saying which is so relevant, “When you change the way you think you will be able to change your world.”



Source by Terry L Dee

Choosing Your Forex Trading Platform

How to choose a forex trading platform

It can be intimidating to choose a forex trading platform when you first start trading – here are some features that any good forex trading platform should have:

Security

Does the forex broker offer information about the security measures of its platform? Your trading and personal data should be encrypted, so that your money and identity are secure, whether you are paying and being paid through PayPal or online bank transfers.

The forex broker should also offer advice on how to increase your online security – I'd be very suspicious of one that did not because they might be making themselves reasonable if there are any problems.
Also, are there backup systems where your information can be stored in case of an IT problem?

Reliability

When can you use the forex trading platform? As forex is a 24-hour a day market, 5.5 days a week, look for something that you can use constantly. Even when the market is closed, you want to be able to place orders to open when the market does.

The trading platform should also be efficient – if it is slow then the prices at which you are trading might be out of date. A good forex trading platform should update several times a second.

One-click trading

If a forex trading platform is unreliable, slow or prone to interruption, a trader can miss a quick opportunity. A platform that offers one-click trading will allow you to buy or sell forex contract with one click, which means there's no need to deal a ticket, and you will not miss the price you want.

Trading style suitability

Does the trading platform suit your trading style?

Is it easy to understand, or can it only be interpreted by a Wall St retiree? Look for a platform where it is
easy to search for your market, and, if you want to trade more than forex, look for one that also allows you to trade on shares, options and indices.

Where are you trading from? If you use a Mac, can you use the platform on it? Likewise, can the program be accessed using different browsers and different smart-phone handsets.

Basically, does it do what you need? A good forex trading platform should be customisable to suit your trading strategy – it does allow automated trading, and it does allow you to micromanage every trade. The trading platform should be able to alert you to good trading opportunities, as well as accept complex orders, including the various stops and profits that the forex broker offers, so you can easily minimize your risk while maximizing your profits.

Charts

Does the forex trading platform have a separate charting platform, and how easy is it to navigate? And, if you want to trade from your iPhone or Blackberry, can you access these from your handset? And, can you trade directly from the charts, or do you need to deal a ticket?

Depending on your level of experience, you might want a charting package with a pattern recognition tool that will monitor the markets on your behalf, and could even let you know when the chart patterns are indicating trading opportunities.

And, if you want to trade forex throughout the day, it is essential that the charts are updated in real-time.

Market Analysis

Does your forex broker offer market analyzes, and is this available using their trading platform or do you need to visit their website?

A good forex trading platform should include market analysis tools, including news feeds, in-house research and third-party research. As information is power, you want to be able to access as much of it as possible, and to have access to it without crawling the internet for the information you need.

Any trading that offers market analysis should also have historical data available, so you can see how the forex was affected when a similar situation occurred.

Price

Is the platform free? Many online forex trading platforms offered by reputable brokers are free, and your only costs will be if you make a loss.

If forex trading software is not free, or if there is a nominal charge, find out what the added benefits are. And, if it is not free, is there a money-back guarantee if you are not happy with the software?

Price, 2

Does the trading platform offer the same pip spreads as the broker has advertised, or do you need to phone to get the best deal?

A pip is a 0.0001 unit of currency, and the pip spread is the difference between the buy and sell price of your contracts – so if the AUD / USD is quoted at 1.0578 / 1.0579, the sell price is 1.0578 and the buy price is 1.0579 . For any spread, the price of the currency needs to make up the difference of the spread before you can make a profit. So, in the example, if you buy at 1.0579, the AUD only needs to rise two pips from 1.0578 to 1.0560 for you to make a profit. If there is a three pip spread, the currency would have to move by 4 pips before you made a profit.

Customer support

Is your forex broker just interested in getting you an account, or do they provide ongoing support for customers using the trading platform?

You should be able to email and / or phone your broker with questions ranging from placing trades to the button on your trading platform that is not doing what you want.

Demo account

No matter how many questions you ask a customer support, it's hard to know how well a forex trading platform will suit you without being able to try it, so get online and see which companies have demo accounts available. The demo account should have all the functionality of the full account, or close to it.

My recommendation

One of the companies I currently trade with, IG Markets, has an excellent trading platform called PureDeal. I've found their customer service, charting packages and market information to be very good and its interface is fairly customizable.

You can also open a free demo account through their website, with $ 20,000 pret money to play with, so why take my word for it? Try it yourself.



Source by Wan Shao

Forex Indicators And What Is It All About?

Selling Forex indicators is a comparatively new business as it could only flourish once personal computers and internet became publicly available and affordable to the wide masses. Yet "new" is not the word to focus on from the previous sentence, but "business".

With its virtual immediate commodity liquidity Forex is as close to the ideal market as possible and it is quite obvious that such a facility would appeal to anyone looking to invest their money against an expected ROI of tens, hundreds and even thousands of per cent per year . It is estimated that almost 200 million people are trading on the Forex market and what is not an estimate here is the average daily turnover of already 7 trillion USD!

Well, that is a market that would attract a lot of attention. Merchants can sell virtually anything to the forex traders – virtual private server accounts, forex brokerage services, rebates, forex robots, expert advisers, forex signals, forex managed accounts and of course – forex indicators.

There is nothing wrong with using these indicators, of course. As long as nobody has convinced you to spend money on a particular indicator promising that this is the "Holly Grail" and it will tell you exactly when to open a trade and when to close it. Such "ultimate" solutions are only possible in a world where a perpetuum mobile exists. If it was possible in the first place it would mean that it was possible to foresee the future! Not guess it, but see into it. Guessing is possible, however it is based on statistical dependencies and as such its results are not 100 per cent correct.

What does a forex indicator generally represent? There are thousands of them, all using different methods to recalculate the price action data and present it in another way to the trader – but they all have something in common, and it is that they all run statistical processing of the price action, which is the bar open, bar close, bar high and bar low. Nothing else. Simply a different way to present to you what you already see on your screen when looking at the currency rate chart.

If you still have doubts about, let us dive into another very simple logical reason of what was said so far here. If a particular Forex indicator was so capable of foreseeing the future, than why did its inventor started selling it? Selling is always for money and with such a powerful weapon he or she would make any amount of money trading themselves.

Trade wisely, buy nothing on the basis of promises, test everything and question your own motivation as well.

Happy trading!



Source by Michael Tangalov

How Profitable is Selling Books Online? A Look at Making Money on Amazon and eBay

If you are new to online book selling or just interested in finding out what the profit potential might be you want to be sure you have a realistic view of the market and its potential. I strive to do just that in this article. For the last five years I have been involved as a third party vendor on Amazon.com, Half.com, and other venues and then as a consultant to online booksellers with my daughter and business partner, Carissa. The aim of this article is to discuss the market potential of online selling.

Before we can answer the burning question of how profitable you can be we need to fill in some basic concepts. I will be covering three different markets for books. We will start with the market for new books fresh from the publisher then discuss the market for secondary books or seconds as they are called and finally the used book market. I will discuss sources, wholesale price (what they will cost you as the bookseller), retail price (what you can sell them for online) and how that relates to the business potential.

New Books

Typically new books can be purchased from a wholesaler starting at half the cover price. If you buy in bulk quantity you can get even better pricing. You can then list the books online for a competitive price to ensure you will sell the inventory you purchased while the book is new and the greatest numbers of people want to buy the book. As time progresses the initial demand is met and fewer people remain who want the book. Depending on how many books were published (and the supply / demand ratio) the price may go down, up, or stay the same.

The typical book will be discounted heavily by the retailers who were the largest purchasers of the book when sales start to wane. Since they paid the least for the book they have a wider margin and can still be profitable while discounting the sales price. The more popular the author and the more anticipated the book the quicker the price drops making it less profitable to the retailer. Large retailers will know they are betting on a sure thing and will buy large quantities and sell the book for a large discount from the first day it is on sale. The last few Harry Potter books fit into this category. For less popular books like text books you can actually get the cover price when the book is new. The best case scenario for new books is doubling your money.

Seconds

A retailer who ordered more books than they can sell places the extras back on the wholesale market as seconds hoping to recoup some of their money. If you purchase seconds you are buying books at a greatly discounted price at a time when the book’s retail price is likely to fall quickly. I have done extremely well with seconds in some limited cases. I have purchased a number of books for two dollars and sold them for fifteen dollars online. This was the exception rather than the rule and I typically only did as well as new books. The other factor is I seldom had over three percent of my sales as seconds. The profitable ones are just that scarce. The best case for seconds in my experience was on average to double your money much like new books.

Used Books

The last market is that of used books. The curious thing to me about this market is the relatively unrecognized value of used books. You see them everywhere in yard sales, thrift shops, flea markets, estate sales, church sales, auctions, and many other places. This was how I got started so many years ago. I went to a yard sale and saw a Masters Level text book on astronautical engineering. It looked brand new so I asked what they wanted for it. I bought it for a dollar and listed it on Amazon as an experiment. I sold it within three days for over forty dollars. I figured if I could buy a product for a dollar and sell it for over forty dollars I was in the game. It wasn’t quite that easy as I later found out but that one experience stayed in my mind. I kept careful statistics for the years we sold books online and I can tell you with certainty I am being conservative here. On average we paid one dollar for each book we listed and sold them for over ten dollars each.

In summary, you can see the used book market has huge potential for profit. The economic situation now is making the cheaper used books even more attractive to a wider market than ever before. Even in cases where someone is looking for a gift quality book, many are still purchasing used with a better condition rating. And for the seller, used books are typically cheaper to buy so it takes less capital to get started and the overhead can be quite small while offering the largest profit margins.

Copyright (c) 2009 Camden Books, Inc



Source by Carissa Camden

Learn Online FOREX Trading – Currency Forex Online Software

In today’s modern society, there are a number of ways to earn money. Gone are the days when people used to travel miles and work in the offices that too under severe pressure from the bosses. Now everything has improved including the style of working.

Most of the new generation wants to have freedom and flexibility in working hours. This demand led to the development of various income generating streams or otherwise called as making money online. Of course, there are different methods to earn money online; each has its own pros and cons.

A new service known as FOREX trading came into existence, here the people trade currency and make money out of it. Earlier, domestic stock trading is considered to be the biggest earner. But this Forex trading has crossed new boundaries. You can make millions of dollars by trading forex online that too within a short time.

Undoubtedly, Forex is the largest financial market that is being operated from all the parts of the world. Thus, the name Online Forex Trading is widely used by the financial advisors. It has a great earning potential and thus many people quit their day jobs and start online forex trading.

As you know where there is a flow of money there exist risks too. Don’t be under the impression that you can simply enter currency forex trading and make millions out of it. First of all, you have to Learn Currency Forex Online Trading and get into it by applying sound strategies.

The theme of the currency forex trading is that you have to buy low and sell high in order to make profits. So you have to get equipped with the right skills to trade the online forex market from the comfort of your home. Equally important is minimizing the risk of losing money.

Thanks to the advanced technology, all these stuff are now handled by the Online Forex Software. They analyze all the market situations and assist you in trading currency forex market. They not only guide you by sending the trading signals, but also guide you when to enter and when to exit out of forex trading.

You don’t have to need special things for the online forex trading software. An internet connected PC will does everything for you. Automate your earnings through Forex Trading Software and minimize the risk of losing money.



Source by Cher K Markov

Forex – A Survey Rating Three Top Retail Brokers

Perhaps you are considering or have already decided to enter into the fascinating and potentially lucrative foreign exchange (FOREX) market. You may now be wondering how you should go about choosing one broker over another. As you might guess, each has advantages and disadvantages. This article will help you to explore some of the aspects of doing business with three of the top retail FOREX brokers in the USA.

This author has test-driven the demo platforms provided by these FOREX brokerages. They are Oanda, FX Solutions and InterbankFX. These brokers were chosen for review due primarily to their popularity among retail traders. Some of the basic findings are incorporated into this article. A more extensive coverage of the areas of comparison is beyond the scope of this article. Depending on the individual trader’s preferences, there is, however, enough critical information supplied here to provide a basis for making an intelligent choice from among the several brokers named.

Cost of Entry

A very pertinent area of comparison is the minimum amount required for opening an account at each broker. Opening a trading account at Oanda requires only $1. Risk concerns aside, this theoretically opens up the window of opportunity to virtually anyone, including those well below the poverty line. Of course, a more realistic view for wealth building would require a substantially higher amount. Financial longevity and successful trading is difficult at such a low level of capital investment.

The minimum amount required by both FX Solutions and InterbankFX for opening a live account will set you back $250.00. Although this is substantially higher than what Oanda requires, most investors would probably want to start somewhere near this level, at a minimum. The rationale for needing a higher starting amount has to do with the potential for draw-downs. A draw-down occurs when your trading position is in the negative because the market is trending against the direction of your profit target. Consequently, the lower your capital investment, the quicker it tends to disappear.

Customer Friendliness

As for rating the customer friendliness of each platform, it appears that Oanda’s platform may take the top spot. The trading charts are above average and built directly into the platform. Although all of the platforms have quite a few bells and whistles, ease of navigation must be present to win the top spot. For example, if you trade based on the release of certain economic news events, you will undoubtedly find that it takes less time to set up on Oanda than it does on the other two platforms. Time is of the essence in the fast-paced news trading environment. Depending on the type of trader you are–news trader, short-term, long-term, etc.–you may not need most of the features offered on any of the three platforms.

Leverage Allowed

Beyond the basics of low-cost account setup and customer-friendly platform, Oanda seems to take a backseat to the other two brokers. This is particularly true in the area of leverage. Leverage is the privilege most brokers give you of trading more money than you actually have in your account. Higher levels of leverage have the potential of boosting your profits tremendously. Quiet honestly, your losses can also be enhanced greatly, if you end up on the wrong side of a trade. Leverage is a two-edged sword. The maximum leverage allowed by Oanda is 50:1, while InterbankFX and FX Solutions allow a maximum of 200:1 and 400:1, respectively.

Spread

All Forex brokers must be compensated for the service they offer in allowing you to utilize their platform to place your trades. Rather than earning commissions, the brokers are paid a spread, which is the difference between the ask and the bid price for the currency pair you are trading. The higher the spread, the more the broker gets paid. Consequently, investors will prefer a broker with comparatively low spreads, all other things being equal. Other than at or near the time of an economic news release, Oanda tends to have lower spreads than InterbankFX or FX Solutions. This advantages lessens around news trading time when Oanda’s spreads tend to increase dramatically, as does those of InterbankFX. The distinction here goes to FX Solutions, whose spreads are constant, even during news time, and only slightly higher during calmer market conditions.

Connectivity

Finally, connectivity issues must be taken into consideration.. It appears that the Oanda platform is the most problematic, time-wise and technologically, when new users are attempting to connect. Some users attempting to go at it alone, without the assistance of tech support, find it difficult, if not impossible, to connect before finally being informed by Oanda’s tech support that they needed the latest version of Java to access the platform. Oanda also seemed to have the greatest likelihood of users being disconnected during high-traffic times, such as during major news releases. Of the three, FX Solutions seems to be the most stable, with little or no known instances of major disruption. Past problems with InterbankFX users being disconnected during high traffic conditions seem to have been successfully addressed by the broker.

In the end, the trader must decide which issues are of priority concern and choose accordingly. By the way, there is no law, rule or policy which would prohibit a trader from having accounts at more than one broker. Such an arrangement may allow the trader to take advantage of the various profit opportunities, based on the strengths and weaknesses of each broker.

Oanda, FX Solutions and Interbankfx are trademarks of the companies by the same name and their affiliated companies.

Sandy Robinson, J.D.

Copyright 2007



Source by Sandy Robinson, J.D.

Earn Money From Home Fast

If you’re looking for ways on how you can earn money from home fast for you to be able to make an additional income without having to give up your current job or spend more time away from your family and loved ones, you should consider the wide range of jobs that you can get online. These jobs will allow you to earn an amount much more than your previous job.

These types of work opportunities that promises to allow you to earn money from home fast could definitely fulfill your lifelong plans and make your dreams come true because you can earn a great deal of money while being with people that matters to your heart the most. But let it be reminded that your income will still depend on the time you spend for work.

One benefit that a person can get from these works at home jobs is the fact that they do not require you to work 5 days a week for at least 8 hours a day. In fact, a lot of these home jobs could be done at your own leisure. You can work even for 3 hours if you wish, just as log as you meet your deadline and you deliver your work in good quality.

Another point why people would rather opt for this kind of job is the fact that they can be paid instantly or after every after a work is finished hence they can get the fruit of their labor all at once. However, this is not always the case since other employers prefer paying twice a month or once a month depending on what is agreed upon.

Imagine earning more than what you even receive from your regular job. Wouldn’t that be so much fun on your part? No need for you to worry about your future because work at home jobs have got that covered for you.



Source by Peter C Davenport

Forex Trading Machine – Avi Frister Review

Forex Trading Machine by Avi Frister is a very popular book based on a mechanical model of trading and therefore uses no pivot points, chart patterns, moving averages, Bollinger bands that require user discretion and judgment.

There seems to be a sudden explosion on the number of forex books bubbling in the market, all supporting a heavy price tag. Warning, most of them are a waste of time. My experience in reviewing them: Big promises, shoddy information. Thankfully Forex Trading Machine is different from the breed and actually delivers what it promises.

Here’s a brief overview of the strategies explained in the forex trading machine:

Cash Cow Strategy is designed with the GBP/USD currency pair. Avi says this pair has been specifically chosen because of its volatility. Using this system you can throw three to four trades a month. The advantage is that you don’t have to stick your eyes to the computer monitor all day.

Flip & Go Strategy is a strategy for day trading .It shows you how to take advantage of a certain characteristic of the EUR/USD pair .

Forex Runner Strategy is another strategy for day trading. It’s purely mechanical and based solely on what price is doing.

Avi also includes a bonus strategy Forex News Trading Strategy.He explains how certain important reports such as the Non Farm Payroll can create moves in the market that can be very significant .

Overall Forex Trading Machine makes a good reading. Avi Frister also has a bonus offer giving Mark Mcrae’s book Trading for beginners absolutely free. Also included is a 56 day money back guarantee.



Source by Mike Lombardy

Forex Vs Stocks

In this article you’ll learn the biggest differences between the stock market and Forex.

1 – Leverage: On stocks, the leverage is usually 2:1 which means that if you have $2.000 in your trading account, you can buy up to $4.000 of a stock. If your account has more than $25.000 it can be considered as a day trader account and in this case, your maximum leverage might be as big as 4:1 for day trading only. On Forex, the maximum leverage is usually up to 200:1. This means that with $2.000 in your Forex account you can purchase up to $400.000 of your favorite currency pair. Some brokers offer even higher leverages that go up to 400:1!

2 – Variety: On the US stock market alone there are over 10.000 stocks. This means you have a lot of opportunities to trade but also a lot of complexity in order to find which stock you’re supposed to trade. On the Forex market, there are only 4 major currency pairs: EUR/USD, GBP/USD, USD/JPY and USD/CHF.

3 – Commission fees: On stocks you usually pay a commission when you buy or sell stocks. This commission can be based on the number of shares you’re purchasing or it can be a fixed commission like for example $10 for unlimited number of shares. On Forex the commissions are free. You don’t pay any commission by buying or selling a currency. The only cost is the spread.

4 – Schedule: The US stock market is open Monday to Friday from 9.30am EST to 4pm EST. The Forex market is open 24 hours a day from Monday to Friday. This brings unlimited opportunities to traders worldwide.



Source by Richard M. Taylor