Question by : What place or country is best to trade forex, sorted by the lesser taxes you pay?
Which country or region taxation, is the best for forex traders?
Best answer:
Answer by MarcThyme Taxes are owed on earnings both in the nations whose currencies you trade and in the country you have a Taxpayer ID in....
What Is Forex?Forex refers to foreign Exchange (currency) and currency exchange takes place at Forex markets. Forex transactions involve sale of one currency by one party in exchange of another currency paid by other party.
Why Trade Forex?The Forex market has become more beneficial in last ten years because of some major changes involved. Seasoned investors prefer it over the trading stocks, options, equity and commodities. Even traders with small capital base have tremendous opportunities to earn millions if they make use of realistic and best currency trading strategies. Though thousand of traders are reaping the profits by trading in Forex markets, there are several others who are still pondering
Question by William M: How many times a day should I make a trade when trading forex?
I am going to turn 18 tomorrow and I've had a practice account for several months and have been experimenting with it all that time, trying different strategies and techniques and have found a way to keep on making small consistent profits. What I'd like to know is for when the time comes tomorrow to put in real money, what would be a recommended number of times I place a trade every day I trade forex to make small consistent profits? Good answers would be much appreciated. Thanks.
Best answer:
Answer by bluenightsky87 Hi William, well that depends on your trading strategy, if it's a long/short term strategy or scalping.
Profits depend on you only. Sometimes it's better to do one trade only a day with a good profit instead of ten or twenty with a very small profit.
I suggest you to join the broker I told you in the last answer, Marketiva, that gives you 5$ to start trading for real and you can use them to start practising. They have also virtual desks to trade using virtual money and there you can develop your trading strategies day by day.
They have also support in different languages, good spreads, no overnight interest and a very nice and easy to use trading platform.
Here is the link: http://www.marketiva.com/index.ncre?gid=3371
Know better? Leave your own answer in the comments!
Question by garryh41: When forex tradeing why cant I trade both sides and use a stop loss?
When forex tradeing why cant I trade both sides and use a stop loss? It seems like it would work if the market moved enough.
I know that I have the cost of the spread, but it seems like this would work, why doesnt it, if the trailing stop loss is active. Both going short and long.
Best answer:
Answer by Inspector Clouseau Do you mean by trading 'both sides' that you would be long the Eur/Usd and short the Eur/Usd at the same time? If so you wouldn't be making or losing any money (except for the spread in opening and terminating the trades).
Question by William M: What should I trade out of stocks or forex that would be easiest to trade and make the most money out of?
I am going to be 18 in 26 days and I want to become a millionaire quickly by trading either stocks or forex. I want to know in your opinion which of them would make the best vehicle to trade to make the easiest, quickest path to wealth? Also, when I say easy, I don't mean that it would be easy to do, but easy in terms of currencies and stocks to choose from and the least complicated to research out of the two. Good, reasonable answers would be much appreciated. Thanks!
Best answer:
Answer by Invest Wisely forex is the hardest of all...
you need to go to university to learn forex trading
You can look for myfxfunds in google/yahoo search engine
My Managed Account has grown to 40% in 3 months.
and this week my account has profit 5.3%
By the way my capital is 100K but you can start with minimum 2000 to test.
Know better? Leave your own answer in the comments!
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Question by mellie delano: Do I need a license to trade forex for others using my software hosted outside Singapore? ?
I am planning to run an automated forex trading platform hosted on a server outside Singapore. Client's trading platform will be hosted on the server and trades will be executed on their behalf. Do I need a license and how do I obtain the license?
Best answer:
Answer by hope If you are trading for others, you may need a license based on your countries rules about being an advisor sort of speak. You may want to contact some of your local officals You should be okay if the funds remain in your account. If you are looking for the best forex software, visit this site
Question by lupita nabors: To trade in the Forex Market professionally do you need to be registered with the NFA?
I have different sources tell me yes and no. I know a lot of new bylaws have been passed to govern the Forex market and the people who trade in it. But for the ordinary person that trades for forex for friends and family do you need to be registered? Are IB and Money Managers the same thing?
Best answer:
Answer by rubye Hi,
Different countries have different laws.
Generally speaking, if you're just trading for your friends and relatives, you probably don't need to be registered.
However, if you're looking to trade professionally (on behalf with clients), then it's a more complicated matter.
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Before embarking upon a career in Forex business keep one thing in mind that successful Forex trading does not take place overnight. It happens only through diligent training, consistent skills and fortitude. a Forex software is not enough to help you to break in the market. The harder and longer a trader works in the forex market, the better he becomes at handling the intricacies of currency trading business; his perception improves and he is enabled to take sound decision wile weighing up his business opportunities.If a Forex trader does not let himself get carried away and stays vigilant he can judge for himself the validity of claim made by different software developers. He can himself determine the suitability of a forex software system, which he is considering.If a Forex trader is posed with the dilemma of choice regarding Forex Software, then he must realize that all the flashy stuff presented on the websites of these software programs has only one name-marketing tactics. Yes these people want to sell their product so they would promise you heaven for this bargain. It is up to a trader or any other intended buyer to distinguish between the fluff and substance.Before opting for any package an intended buyer must do some background search, study reviews, ask questions in forums raise queries and check up the free trials, if available, before actually buying any software. Remember ultimately it's your money and your business, which is going to be affected by the choice and purchase of the software, so there is no such thing as digging too much around the hype to reach in the real stuff down there.Basically there are three major categories of forex programs and they have a varying array both in price and performance options. An intended buyer should carefully evaluate his budget and his own degree of expertise and skill with respect of the functions, which he requires that software to perform, before selecting any package.Types of Forex Software Trading Platform - is an all in one solution; generally it is an innate working program of most brokers' Forex system, It generates an endless stream of information and provides fundamental tools to execute the trade. But it operates without supplying much detailed guidance to a novice. It is a good choice for those who can handle trade without much spoon feeding; but a novice may feel bewildered by all that information without a clue on how to utilize this information for maximum advantage.Signal Software - high level of expertise and clear comprehension of Forex market and trading strategies is the first requisite of this software; therefore, it is not much suitable for a beginner. To utilize this package a Forex investor has to get more involved in process of drawing information, using it adequately and making appropriate trading decisions. Signal software facilitates a trader to observe spread changes and make decisions based on those variances.Charting Applications - hardly suitable for newcomers, this package is primarily good at trend analyses and predictions; Data streams and features generate alerts pertaining to buy and sell recommendations. Forex charting application software has the capacity for automated trading as well. Utilizing this forex software entails a great deal of foresight and understanding of Forex business to be used to its optimum capacity.Forex Trading Robot or Forex Robots - have been created and developed to reduce psychological impediment while trading Forex. Forex robots are basically software programs, which apply different ranks and levels of algorithms to calculate or prompt buy and sell transactions. But it should be kept in mind that despite lofty claims of software developers there is no such software that is empowered enough to work flawlessly while currency trading. There is a widespread belief among Forex fraternity that large financial institutions have some highly advanced trading algorithms or 'black box' for forex trading, which are kept in high secrecy.One thing, which an interested buyer should remember is that their requirements, will keep on changing with their level of understanding and skill. Besides, if a trader can afford it then there is no harm in using two or more software programs simultaneously because each one offers some thing exclusive.Forex software availability is possible in many forms: CDs, downloads, and interactive, Web-based programs. Just be sure that the testimonials props the claims of your chosen program. Forex software has to be more than just functional. It must eventually fulfill the reasonable expectations associated with its faculties.
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