Here's the Easy Way to Make Money With Forex Training Even If You're a Beginner

Forex trading has become one of the hottest growing online business ideas that people become involved. As people discover the large earnings potential of currency trading, the currency markets keep growing.

Just like trading in stocks, in the forex markets you want to buy when it's low and sell when it's high. Here, naturally, you're trading currencies and not company shares. Just like shares, the value of a currency rises and decreases. If you buy a cheap foreign currency - let's say at 58 cents for every unit - and later sell it when the price has increased, you will make some cash. That's how forex trading operates.

Obviously, this doesn't appear to be all that difficult. And it's not, in principle. But there are many things to keep in mind if you wish to earn money through currency trading. One of the immediate things you'll find out is that there are tons of currency types - it's not realistic to follow each of them. Professional traders will focus on just a couple. Of course the million dollar question is, how can you understand when is the appropriate time to purchase or sell?

Thankfully, a quality forex trading computer program will help increase your earnings. These computer programs are programmed by pro currency traders and computer wizards and can monitor the forex markets on their own. The software not only will detect the currencies with the largest money making potential, but it will also analyze trending data to determine just when is the best time to purchase or sell.

And don't worry about these computer programs being hard to utilize - they are very easy to use. They will usually have a demo mode that takes you through the features as you are learning the software. This is important, as you don't want to risk cash through trades while you are still learning to use the program.

It's a wise idea is to seek out a money back promise. When a company believes in their software and knows that it does what it promises, they won't have any issue in offering a promise. The guarantee will let you use the program to make sure you are content with the way it operates.

Obviously it's normal to be a bit timid to jump into the currency markets if you're a beginner. That's exactly why a currency trading program can be so powerful. You can rely on the program to help you make some money as you learn more about the currency markets.

As traders get more educated, they may branch out on their own a bit. But it's still wise to use a currency trading program even once you are beyond the newbie phase. Using a trading program will bring you in extra cash, and it also helps in educating you about the markets.

Using a forex trading program gives you a quick way to profit from the forex markets, especially if you are just learning about the markets

Top 10 currency traders

British Pound to Fall as Data Signals Deepening Recession

Written by Ilya Spivak, Currency Analyst

The British Pound faces substantial downside risks next week as a heavy dollop of negative economic data points to ever-deepening recession.

Fundamental Outlook for British Pound: Bearish

- UK Jobless Claims Rise by Most on Record
- Bank of England Unanimous On Quantitative Easing
- UK House Prices Fall at Record Pace for Second Month in March

The British Pound faces substantial downside risks next week as a heavy dollop of negative economic data points to ever-deepening recession. Last week, we saw sterling come under substantial selling pressure after Jobless Claims jumped much more than expected and the Claimant Count ticked to 4.3% (versus forecasts of 4.0%) in February. Next week’s Retail Sales is very much a part of the same picture: as companies trim jobs, disposable incomes dwindle and consumer spending falters. Expectations call for receipts to add 2.5% in the year to February, down from 3.6% in the preceding month. Private consumption is the largest component of overall economic growth, so weakness here bodes ill for Britain’s ability to climb out of the current downturn. Indeed, the IMF has predicted that this time around the UK will see the worst recession among the G7 nations.

Anemic economic growth is set to bring inflation lower, with growth in consumer prices expected to slow to just 2.6% in the year to February, the lowest in 11 months. Minutes from the last meeting of the Bank of England revealed that policymakers voted unanimously to cut interest rates by 50 basis points and begin quantitative easing, committing to spend 75 billion pounds to buy government bonds fearing that price growth may slip well below the 2% target rate this year. The week aptly closes with the release of the final revision of fourth-quarter GDP figures, with that release set to confirm that the economy shred a whopping 1.5% in the three months to December 2008, the worst in nearly three decades.

The US Dollar Index is showing signs of bouncing higher having found support at a rising trend line established from the lows set last July, hinting that feverish selling of the greenback may have run its course and will not be propping up GBPUSD for much longer. This opens the door for sterling to bear the full brunt of rapidly deteriorating data, suggesting the bears will be out in force in the near-term.

US Dollar Losing Its Economic, Safety And Reserve Advantages

Written by John Kicklighter, Currency Strategist

The US dollar was put through the ringer this past week as market participants were left to wonder where the currency would find strength as its primary, fundamental pillars started to give way. There is no better gauge for the health of the greenback than price action itself. The dollar index suffered a 345 pip decline through Friday’s close – the biggest weekly drop in years.

US Dollar Losing Its Economic, Safety And Reserve Advantages

Fundamental Outlook for US Dollar: Bearish

- UN panel and Russia prepared to recommend abandoning the dollar as the world’s reserve currency
- Fed holds rates, announces quantitative easing and a sizable increase to MBS purchases
- Industrial production runs its worst slump since 1975 suggesting the worst of the recession has yet to be seen

The US dollar was put through the ringer this past week as market participants were left to wonder where the currency would find strength as its primary, fundamental pillars started to give way. There is no better gauge for the health of the greenback than price action itself. The dollar index suffered a 345 pip decline through Friday’s close – the biggest weekly drop in years. And, though the retracement of the past two weeks has unwound a significant share of the previous eight months’ of bullish trending; the pull back may not stop there. As fear settles and global policy officials attempt to stabilize the financial and economic crises, the market will grow increasingly critical of the stalwart dollar. With a clear field of view, traders will take weight of the United States position in the recession curve; the unit’s status as a safe haven; and more importantly, its role as the world’s reserve currency.

Of these three critical themes, the threat to the dollar’s standing as the world’s primary store of wealth is the most elemental. One of the primary reasons (aside from being backed by the largest economy in the world) the greenback has dominated as the world’s most liquid and actively traded currency is the fact that nearly ever central bank and financial player transacts through it. With this standardization, the dollar lines reserves, is used to purchase commodities and is used as a benchmark for currency pegs among other things. This is why suggestions that the Commission of Experts on International Financial Reform panel will recommend to the UN that the dollar be abandoned as the world’s currency reserve carry’s so incendiary. This is not the first time an official or group has called for such a move; but the argument has not been made under the level of stress the markets are currently experience. With so many ‘too-big-to-fail’ market structures and participants having succumbed to this crisis, there is little reason why such an out-dated norm will not be reconsidered. In fact, the argument for a basket of currencies taking the place of sole dollar is so persuasive that the topic will also come up at the G-20 summit on April 2nd – where anything official will likely take place.

In the meantime, fundamental traders will focus their attentions on the greenback’s fading appeal as a key safe haven currency. It was the height of the panic back in October that really cemented the currency’s place as a harbor for the world’s money. Fear left investors with one concern; and that was capital preservation. Offering the deepest pool of liquidity and the backing of the world’s largest government, US Treasuries (and by proxy, the dollar) was bought at a furious pace. However, in the months that have past, the market has cooled off. Traders and money managers are still worried about protecting their funds; but they are doing so with a mind for potential return and the long-term viability of their investments. Over the past weeks, the US has had to inflate its balance sheet, take up the reins of quantitative easing, take over two corporate credit unions and battle a deepening recession. This is not the laundry list of a safe, long-term investment.

And, when these two major market dynamics are not in play, dollar traders will fall back on the now-ubiquitous recession contest. Negative growth is universal problem; but there are nonetheless leaders and laggards in this race. After the first, aggressive round of policy action from US officials, market participants were ready to believe that the US was perhaps ahead of the recession curve. However, as the economy nears depression levels and promising alternatives emerged (like Australia), this notion began to fade. This is where next week’s docket comes into play. Final GDP, recent consumer spending and housing data will all add to the debate. - JK

Forex – The Only True Global Market.

Trading, whether it is stocks, commodities, or derivatives (like futures and options) can be a very lucrative business to be in.
With the decision to become a trader, you must also choose what type of market you will focus on and what instruments you will trade. Will it be shares of publicly traded companies, commodity future contracts like oil and gold, or currencies.
Most of the financial markets that exist in the world today are within the framework of a central exchange, and for that reason they are limited in their scope and daily trading volume. Every market except one, which is the foreign exchange currency market.
The foreign exchange (forex) market has no central exchange, and instead it exists only as a highly interconnected web of bank servers and individual brokers. The 'over the counter' type of trading tends to be much larger in scope than trading centered around a central exchange (such as the NYSE), and for the reason the forex market is hands down the largest financial market in the world with daily volume surpassing $2 Trillion USD.
The forex market is the only true global market that exists, as it is not based in one specific country and instead is created by the perpetual buying and selling of banks and financial institutions in every major city, 24 hours per day.
Unlike traditional exchange-based markets which have set times that they are open and closed, the forex market literally follows the span of daylight around the planet.
When you are a forex trader you need to be familiar with the term 'global trading day.' The global trading day begins with the London market open hours (about 3AM New York time) and continues across all the major cities and time zones.
There are three distinct times throughout the global trading day when there is the most trading activity (and consequently the most liquidity). These times are based around the open-hours of the three major cities in the world where the largest volume of forex activity takes place: London, New York, and Tokyo.
So what does this mean for you, the trader? Because the forex is a global market and there are no set open and closed times, it is possible to trade at any time during the day (except on weekends).
It also means that due to the level of daily trading volume, this market is very liquid and it is virtually impossible to get 'stuck' with an open position.
Because of these lucrative trading features, many firms and brokers have sprung up to cater to the large demand of forex market access. Many of these companies offer highly advanced trading platforms that feature very low commission trading and seamless market entry/exit.
All in all, forex trading is by far one of the coolest ways around to make money today, since all you really need is a broadband-enabled laptop and a funded trading account to make money from anywhere in the world.

Forecasting in the Forex Trading Market

Forex, also known as the foreign exchange market is the busiest financial market that boasts of over $1.5 trillion worth dealings in a day. Although this market has no physical location, it operates efficiently through an extensive network of banks and corporations. The Forex market is far more volatile than the traditional market and relies heavily on speculation. Forex currency trading can be very lucrative for those who understand the importance of "timing a trade" and are willing to stake long hours in research and market study. As a Forex trader, you should be able to forecast Forex trends for successful trading. Forecasting is one of the most crucial aspects of Forex trading and if you are able to predict market trends well, you can save yourself from financial disasters. For forecasting Forex trends successfully, you need to look into various details such as historical trends, past performances, and market movements.

Financial experts depend on technical and fundamental analysis to study current trends and predict future trends. Existing data and facts can be used to forecast the movement of the economy and the stock market and how this would impact individual securities. Financial analysts apply several methods to forecast the foreign currency market that include the most popular methods namely, technical analysis and fundamental analysis. These methods are commonly used to understand how the foreign currency exchange market operates and how even the slightest fluctuations influence currency rates and subsequently the whole currency trade. Both these methods are entirely different from one another but serve one common purpose – Forecasting Forex trade. As you understand how technical and fundamental analysis can help in forecasting, you will be able to combine the two for better forecast and more lucrative trade.

Technical analysis relies on past performances that are indicated through charts and graphs compiled on the basis of past Forex market movements. These movements are nothing but major events that occurred in the past and how they affected the currency rates. Experienced Forex traders and brokers greatly depend on technical analysis, as it is drawn from actual figures and trends in the Forex market. For effective technical analysis, you need to understand how past performances, current events, and changing currency prices influence the market action and therefore need to take into account the supply and demand as well. Financial experts believe that the price movements generally repeat in a particular pattern over a period of time. As a Forex trader, you need to study and understand these patterns well in order to forecast successfully. When looking at the past performances for technical analysis, you must divide your study into five main categories namely; number theory, indicators, gaps, waves, and trends.

Fundamental analysis is another important method for forecasting in the Forex market and forecast is based on events that have not yet occurred. You can forecast price movements by taking into account number of factors that include environmental factors, political changes and natural disasters. These factors greatly affect supply and demand in the market and eventually influence price of currency. Although the fundamental approach is quite effective, it cannot rely on it alone to predict in the Forex market. Experts combine this analysis with technical analysis to predict accurately and expect changes in the currency exchange trade.

If you are keen on investing your money in the Forex market, a basic understanding of how the Forex currency trading system functions is crucial. This will help you to predict which direction the currency trends will move and how you can use this information to maximize profits. If you are not familiar with the way the Forex market operates, you may consult with an expert Forex broker who can take off the burden and advise you about Forex trading and planning entries and exits effectively.

WORLD FOREX: Dollar Makes Comeback After Two Days Of Losses

By Dan Molinski

OF DOW JONES NEWSWIRES

NEW YORK (Dow Jones)--The dollar is rebounding early Friday in New York after two days of losses that were sparked by the Federal Reserve's aggressive plan to inject liquidity into the system and revive the economy.

The euro dipped to as low as $1.3538 Friday, down from a 10-week high of $1.3739 reached Thursday. Against the yen, the dollar is also performing well, reaching as high as Y95.72 after hitting a nearly one-month low of Y93.55 Thursday.

But analysts chalk up the dollar's gains Friday mostly to profit-taking and say further dollar weakness is expected over the coming days, mostly as a result of the Fed's liquidity-injection efforts. The U.S. central bank noted plans Wednesday pumping up to $1.15 trillion into the system through the purchase of $300 billion in long-term Treasury bonds during the next six months, and other measures.

That announcement sparked a temporary rally in U.S. stock markets, which drove investors away from the dollar, which has been sought out for months as a safe haven. But the stock market rally hasn't persisted and that's helping to give the dollar support again.

There is no major U.S. economic data out Friday, but traders are likely to keep their eye on comments by Fed Chairman Ben Bernanke, who's set to speak about the financial crisis around noon EDT in Phoenix.

Friday morning in New York, the euro was at $1.3597 from $1.3678 late Thursday, and the dollar was at Y95.58 from Y94.41, according to EBS. The euro was at Y129.92 from Y129.14. The U.K. pound was at $1.4446 from $1.4518. The dollar was at CHF1.1248 from CHF1.1228 Thursday.

Meantime, the Canadian dollar is slightly higher early Friday, drawing some strength from the recent resurgence in oil and other commodity prices, but otherwise remaining subject to broader U.S. dollar moves and wavering levels of risk aversion as reflected in equity market developments.

The Canadian currency showed little response to news of a surprise 1.9% jump in Canadian retail sales in January, and is generally seen as headed for a period of consolidation after its recent sharp upward move.

Currency strategist Jacqui Douglas of TD Securities in Toronto said that the U.S.-Canada dollar pair is currently trying "to find some stable footing within the newly established C$1.2200-C$1.2600 range."

Early Friday, the dollar is at C$1.2347, from C$1.2373 late Thursday.