How to Get Started with FOREX

People are introduced to the exciting world of foreign exchange in many ways: friends, current events, newspapers, television, and many others. For those of you who are new to forex, the following guidelines cover the basics of currency trading.
DealStation Video-Tutorials
The MG DealStation tutorials are designed to serve as audio-visual guides for traders to gain familiarity with the MG DealStation Trading Platform.


Step 1: "Practice makes perfect"
Demo trade. The demo account was designed to help traders gain familiarity with the speed and movements of the market. When you are demo trading, you should learn how to: 1) place market orders to enter a trade, 2) place stop-loss orders to protect your positions, and limit orders to take profits, 3) place OCO orders and If Done Orders to execute more advanced strategies.

Step 2: "Study, Study, Study".
Forex traders use fundamental analysis, technical analysis, quantitative analysis and sometimes a combination of all three to make their trading decisions. Fundamental analysis involves the use of economic, financial and political news to determine trading decisions. Technical analysis involves the study of Charts to predict future price movements based on past price patterns and trends. Quantitative analysis consists of the use of preset statistical models and properties in quantifying price formations such as averages, retracements as well as identifying oversold and undersold situations.

In order to help novice and experienced traders alike, MG has developed www.forexnews.com, a leading site on foreign exchange analysis, news and education. Comprehensive previews and summaries updated 4 times per day, insightful editorials covering the latest market developments and an open forum for discussing trading tips and ideas, are just some of the many features of Forexnews.com and MG's commitment to educating and informing Forex participants.

Step 3: Manage your money wisely.
You should always be aware of the amount of money in your account before placing a trade. If you think a long-term trend is developing, then you should consider whether you have enough funds to maintain your margin and withstand any movements against your position(s) that may occur. We encourage everyone who opens an account with us to ask themselves the following questions prior to entering each trade:

1) How much am I willing to risk?
2) What is my upside and downside potential?
3) What are the market conditions? (Is the market volatile or calm?)
4) What is the logic behind entering this trade?
5) When can I conclude if the assumptions/logic behind the trade are/is correct or wrong?

Before entering an order, you should consider both your entry and exit points. One of the mistakes most commonly made by traders, especially new traders, is letting emotions get in the way of their strategy.

Step 4: Stay Connected:
It is impossible to follow the forex market 24 hours day, 7 days a week. For better management of your account, we encourage you to use our Wireless Service and alert!FX™.

Step 5: Open a Live Account.
If you feel ready to trade this market, fill out our application forms and submit them today. Since the emotional factor may be higher than it was when you were demo-trading (as you are now committing real money), it is essential that you develop an effective strategy while demo-trading and plan to abide by it when trading your live account.

We hope you enjoy trading with us and wish you the best of luck!


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What is Forex (Foreign Exchange)?

Foreign Exchange (FOREX) is the arena where a nation's currency is exchanged for that of another. The foreign exchange market is the largest financial market in the world, with the equivalent of over $1.9 trillion changing hands daily; more than three times the aggregate amount of the US Equity and Treasury markets combined. Unlike other financial markets, the Forex market has no physical location and no central exchange (off-exchange). It operates through a global network of banks, corporations and individuals trading one currency for another. The lack of a physical exchange enables the Forex market to operate on a 24-hour basis, spanning from one zone to another in all the major financial centers.

Traditionally, retail investors' only means of gaining access to the foreign exchange market was through banks that transacted large amounts of currencies for commercial and investment purposes. Trading volume has increased rapidly over time, especially after exchange rates were allowed to float freely in 1971. Today, importers and exporters, international portfolio managers, multinational corporations, speculators, day traders, long-term holders and hedge funds all use the FOREX market to pay for goods and services, transact in financial assets or to reduce the risk of currency movements by hedging their exposure in other markets.

MG Financial, now operating in over 100 countries, serves all manner of clients, comprising speculators and strategic traders. Whether it’s day-traders looking for short-term gains, or fund managers wanting to hedge their non-US assets, MG's DealStation™ allows them to participate in FOREX trading by providing a combination of live quotes, Real-Time charts, and news and analysis that attracts traders with an orientation towards fundamental and/or technical analysis

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Forex Advertising

EarnForex.com receives only high quality and extremely targeted traffic which comes mainly from search engines, online directories and Forex related forums. Visitors are highly interested in everything about Forex and financial trading. Constantly updated content keeps a large part of our auditory revisit EarnForex.com on a regular basis.

The advertising rates are quite moderate, making your Forex advertisements an effective marketing tool. Buying Forex advertisements (banners or text link) will bring you only high quality targeted visitors.

Following types of Forex advertisements are currently available (all placement options are site-wide unless otherwise stated):

Site except Blog part and Russian language part




Banner advertisement rates:

1. Top banner position, 468x60 (just below the title image) — $1600/month or $450/week. Unavailable.
2. Bottom banner position, 468x60 (just above the risk disclaimer) — $900/month or $250/week. Unavailable.
3. Menu banner position, 120x60 (under the site menu) — $450/month or $150/week. Unavailable.

Text link advertisement rates:

4. Bottom text link position (just above the risk disclaimer) — $175/month or $50/week. Available.
5. Menu text link position (under the site menu) — $175/month or $50/week. Available.
6. Featured text link listing on the "Forex Resources" page — $300/year. Featured link is showing in a bold style and appears above all non-featured links. Available.
Blog part

Banner advertisement rates:

1. Top banner position, 468x60 (just below the title) — $700/month or $200/week. Unavailable.
2. Bottom banner position, 468x60 (just below all posts) — $450/month or $150/week. Unavailable.
3. Menu banner position, 120x60 (just above MyBlogLog widget) — $250/month or $80/week. Available.

Text link advertisement rates:

4. Menu text link position (just above MyBlogLog widget) — $150/month or $45/week. Available.

Banner advertisement rates:

1. Top banner position, 468x60 (just below the title image) — $250/month or $75/week. Unavailable.
2. Bottom banner position, 468x60 position (just above the risk disclaimer) — $175/month or $50/week. Unavailable.
3. Menu banner position, 120x60 (under the site menu) — $150/month or $45/week. Available.

Text link advertisement rates:

4. Bottom text link position (just above the risk disclaimer) — $75/month or $25/week. Available.
5. Menu text link position (under the site menu) — $75/month or $25/week. Available.
6. Featured text link listing on the "Forex ресурсы" page — $125/year. Featured link is showing in a bold style and appears above all non-featured links. Available.

Additional information

Discount for 12-month orders — 10%.

Other banner positions and their rates can be negotiated.

Available methods of paying for the Forex advertising:

* Wire transfer
* WebMoney
* Moneybookers


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NEW STRATEGY AND THE RESULT IS

On my last post, I was telling you about a new system. I decided to do forward testing. As usual all testing was done on a demo account. No live account was hurt during the testing period.


The result as you see is superb. There are actually 2 part of testing. The early trades are done on a shorter time frame, 5 minute to be exact. The later part of testing is done on a longer time frame, 1 hour.

I must say the system looks promising on the longer time frame. On the shorter time, I just dont have the time to monitor the trades.

As of now the system is running on my live account. At the moment on 4th June my account is up 40%. Hopefully everything goes well and I will have good profit by end of the month. Will keep you inform on the result later.

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