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Where is there a reputable web site to buy foreign currency?

Eric — Thu, 18 Mar 2010 15:36:18 +0000

I am looking to buy foreign currency, but hear there are some not-so reputable companies. I am looking for a reputable site and am curious what the minimum trading amount usually is
I live in the U.S.

i believe you must be talking of trading foreign currency or forex. if so, then you should check your options in this site. it will lead you to a legitimate, trusted, reputable, popular and leading forex broker that has regional offices worldwide including in Chicago and New York, USA. you may start with a mini account for $200 or you can open higher accounts like gold, paltinum or vip. of course, the higher account the better features are available. one very good feature they have is by opening any account, you will be provided a personal account service manager or asm as your mentor and consultant for free so if you are new to forex trading this would be a very good advantage. discussions can be done via phone, email, chat or even personal meeting if you live near any of their regional offices. all the best.

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What is the best Forex trading robot "software" out there?

Eric — Wed, 17 Mar 2010 16:32:32 +0000

I heard and read about forex and wanted to know if these robots really help?. and if they do help, what is the best one out there?. Because I heard about a lot of them (forex killer, forex autopilot, fapturbo). So if you have any comments they would really help.

What is FAP Turbo?
For those of you who don’t know what FAP Turbo is, it’s a Metatrader 4 forex expert advisor (EA). This EA can also be referred to as a forex robot. It’s a piece of plug and play software, you attach it to a chart within Metatrader 4 and leave it to do its business. Its business is to automate all trading for you, opening and closing trades etc. This leaves you the time to do other things.

Is Fapturbo a scam?
You can see the review here
http://fapturbo-review-is-it-a-scam.blogspot.com/

Is there discount for trying Fapturbo?
You can get the best discount here
http://fapturbo-best-discount.blogspot.com/

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What trading platform let me short naked options?

Eric — Mon, 15 Mar 2010 20:11:12 +0000

I want to short calls and puts like I short stocks.I am not interested in selling the calls and puts because I have to own the stock which I do not want to.It is named schort naked options.Thank you.

Almost all options brokers allow writing naked options. The problem really is your risk level assessment. When opening a broker account, you will be asked to fill out some forms surveying your financial strength as well as your options trading experience. If you are a beginner to options trading, you are very unlikely to be approved for naked options writing.

Are you wondering now why they are so strict on options writing? Well, if you have been told that writing options is like the safest way to trade options, you have been fooled. Writing options without the sophistication of an options expert will only land you in bankruptcy as it is an unlimited loss position. See? That is why brokers don’t let you do it without significant experience.

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How does Forex trading work?

Eric — Sat, 13 Mar 2010 17:07:48 +0000

So I’m looking to start forex trading (but first doing some intensive learning) and I’m just trying toi get my head around the basics.

There’s a few things I don’t understand so I’ll just shoot and you can correct me where I am going wrong.

– If I buy say EUR/USD, then I am in effect buying euros in anticipation that the value will increase against the dollar? Does this mean that when I close a deal I am exchanging for Dollars at a better rate?

If so, how does this money get changed back into my own currency the £, surely the exchange rate for that must be taken into consideration?

I think I’m wrong on all counts there, I just need someone to go into silly detail about how currency pairs work, what I am trading, when I buy or sell and how that then comes back into my own account ijn my own currency as a profit..or loss.

1st off your on the right track by educating yourself before jumping into forex. Open a demo account with 1 or several brokers and try them out. there are numerous site available. Buy a book or two and learn all you can. I recommend the "dummies " series. Email me and I’ll tell you which ones I bought.
Don’t be in a big hurry to lose your money. I was just at a conference on forex and a author told us he spent 2 yrs on a demo account before pulling the trigger.
Don’t listen to some idiot on here saying stay away its too risky when they don’t know what there talking about. One of the safest investments you could make, owning Your own home turned out to be to risky for alot of people.
But to answer your question yes. When you buy 1 currency your exchanging your currency for that. ten when you sell it is exchanged back.

Crawl, Walk, Run. Sen. Clay Davis – The Wire

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Can I Buy Foreign Currency In India and Sell In India like a Trading in Share’s?

Eric — Sat, 13 Mar 2010 17:07:18 +0000

I want to buy the Foreign Currency and Trade in india (daily Buying and selling), Is there any Restriction in that in RBI act or other Specified Act’s?

I do not know about the restriction but it is leagal. I am sure there are some restriction though.

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Where can I learn more about FOREX automated software?

Eric — Fri, 12 Mar 2010 16:19:25 +0000

I am a FOREX trader looking to automate my process. I have seen some ads for automation software. Any recommendations?

I recommend http://www.FOREXStrategyRobot.com . Many FOREX traders have turned to this software to automate their process and identify trends in the market.

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If I make income trading currency on the foreign exchange, must I report this on my federal taxes?

Eric — Tue, 09 Mar 2010 10:22:12 +0000

I want to start trading currency on the foreign exchange but am not sure if I would need to report my returns as income on my federal income tax return. If I do need to report it, how so?

Yes you are supoposed to claim any income tha tyou receive on your taxes.

This advice was prepared based on our understanding of the tax law in effect at the time it was written as sit applies to the facts that you have provided. http://www.hrblock.com/taxes/tax_tips/index.html
http://www.hrblock.com/taxes/tax_calculators/index.html

Christine

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Currency traders, what is the best an least expensive way to buy and sell foreign currencies?

Eric — Sun, 07 Mar 2010 04:11:24 +0000

I would like to try currency trading. Should I contact, say for example, a bank in England to buy Pounds directly, or should I use an intermediary like Scott or Ameritrade?

There are many online forex trading companies you can try but at the same time there are many scam and phishing websites too. BEWARE!

You can install Calling ID in IE for verification. The site below has been verified by Calling ID as safe.

http://www.forex.com/pages/land-international.html

They even have risk free practice account where you can trade with virtual money before starting with real money.

http://www.forex.com/uk/forex_demo_account.html

However need to warn you, forex trading is a very risky investment and highly speculative. It’s really meant for the professional experts. Unless you just want buy certain currency and keep it for mid or long term say 6 months to a few years and not trade daily.

In case you stumble upon this site, eToro, DON’T GO THERE!!!

http://www.etoro.com/

it’s rated as HIGH RISK by Calling ID. Owner hides it’s identity.

One more thing, don’t use too much leverage maybe only 2-3 times will do. Some allow leverage of up to 40 x which means if the currency move against you 1% you will lose 40% of your money. The higher the leverage the higher the risk!!!

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What are the risk of trading currency with Forex trading?

Eric — Fri, 05 Mar 2010 05:24:01 +0000

What are the risk of trading currency with Forex trading? I live in China, but wants to try trading currency with Forex. One of the operator asked me to send the money across to them in USA and start trading in minutes time. I don’t know much about currency trading but they said they will offer me a course to get me started. Do I engage in this business?

Like everyone else has said you need to take your time when deciding to trade the Forex market. That being said, if you are willing to learn how to trade it properly and are patient you can make money even with a small ($500) account.

You will need to set strict money management rules, that is how much to place on each trade, how much you are willing to lose on each trade and how much profit you are happy to take on each trade.

If you want to make money with forex, check out this site

http://make-money-with-forex.org

Here, You’ll find the best forex software that can help to increase your trading profit.

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What FOREX software do you recommend?

Eric — Thu, 04 Mar 2010 06:22:51 +0000

I have been getting into FOREX trading lately. I am looking for some software that will let me track test accounts as well as schedule trades. Any suggestions?
I used the software I found at http://www.FOREXStrategyRobot.com

Thanks!

My favorite one Is IvyBot Automated Robot #1 It has Best Features It trades itself 4 Currency Pairs .
It Takes 24/7 Global Forex Market conditions . It gives 98% Gains so far me .

Here the Honest User Review about IvyBot automated Robot

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