Forex Trade History

Foreign trade exchange has been around for a long time but was impacted in 1944 when the Bretton Woods Agreement established the US dollar and fixed it against gold. The value of the dollare 35USD per ounce of gold and all other national currencies were based on the US dollar. The purpose of the Bretton Woods agreement was to establish certain international monetary stability and prevent money from being taken out of one country and into another. This agreement was implemented after world War II, and was made to regulate the international Forex market. Countries tried to keep the value of their currency equivalent within a certain limit to the dollar and to the rate of gold as needed. It was because of this agreement that the dollar became a leading contender and it was used as a reference in fluctuations of other currencies. This also reflected the global economic dominance that the United States now held. At this time countries were not allowed to devalue their currency in order to benefit foreign trade and the fluctuation of currencies could not go under 10%.
Forex Trade Since 1971

In 1971 the Bretton Woods agreement was abandoned as the US dollar could no longer be exchanged into gold, and it was here that the market of supply and demand began to control the foreign currencies.Prices would fluctuate on a daily basis with prices changing at a constant speed and new financial tools, and market deregulations were introduced. When computers came into the financial world in the 80's then there became an even more increased trade in Foreign Exchange including curencies from Asia, Europe and the Americas. The trading increased from $70 billion a day in the early 80's to $1.5 trillion dollars a day today, and all thanks to the ability of online trading.

Today Making Money with Forex Trading is for Everyone

Today anyone can make a nice profit from Forex trading. Forex trading involves changing an investment from one currency to another, and many of these are the strongest currencies in the world, including the Dollar, the British Pound, the Euro, the Swiss Franc, the Yen and others. When you trade you want to buy a currency that is at a lower exchange rate and later exchange it for a currency that is at a higher exchange rate. When doing this there are several factors you will need to look at as these determine the strength or the weakness of a currency. Factors that determine this strenght or weakness are economic growth, decline, employment rates, export of products, etc. To be successful at Forex trading you must learn to watch for these economical developments around the world.

Forex New Trading

If you are just starting out in foreign currency trading then you will almost certainly want to start your hand with a mini Forex trading.
Although it varies from one broker to the next, a Forex trading account can usually be opened with $2,500 or more. However, for those who are new to the world of currency trading then a Forex mini trading account can often be opened for as little as just $250.

A mini Forex trading account operates by allowing you to use leverage in trading so that you are effectively trading with more money than you actually have in your account. The leverage available will vary between brokers, but is typically in the region of 200 to 1.

So, what does this mean?

If we assume that the minimum required to trade a lot is $10,000 then, with a leverage of 200 to 1, you would be able to trade with as little as $60 ($60 X 200 = $12,000) and so, with an initial deposit of $250, you would be able to trade up to 5 lots.

Forex Trading Strategies Are The Key Successful

Before venturing into the world of Forex trading it is vitally important that you stop and think carefully about the trading that you are going to adopt, because Forex trading strategies are the key to success in currency trading.

Some Forex traders choose to use a technical approach when it comes to trading while others are more at home with a fundamental approach. Both approaches are of course sound, but in reality most successful traders use a combination of the two to give them both an overview of the foreign exchange and to permit them to plot specific entry and exit points for each currency trade.

Many traders also rely on what are known as support and resistance levels. Here support refers to a low price which is repeatedly seen as being the bottom of the market and from which there is a tendency for prices to rise. A ‘resistance level is a high price beyond which a currency is rarely traded.

The principle here is that, should a currency break through either its support or resistance level, its price is likely to continue in that direction. So, if the price of a currency rises above its resistance level it is considered to be bullish and the price can frequently be expected continue to rise.

Another commonly used tool in foreign currency trading is that of moving averages. A simple moving average (SMA) shows the average price in a given time period (say 7 or 10 days) when the price is plotted out over a longer time period. Forex traders use moving averages to eliminate short term fluctuations in price and to provide a clearer picture of the movements in currency prices. A SMA can be plotted to indicate when prices are displaying a tendency to rise or fall. Prices which rise above the average will frequently continue to rise and, similarly, prices which fall below the average will often continue to fall.



These are just two of the many trading tools that can be used either in isolation or in combination and it is recommended that traders make use of several trading tools to analyze the market. If you are relying on just a single trading tool then trading can often be risky but, if the results from several different tools show that the market is moving in a particular direction then trading can be conducted with a fair degree of confidence.

In many ways it does not matter what trading strategy you adopt as long as you are happy that it can provide you with clear expectations in the market and indicate to you just where you should be trading and when you should enter and exit individual trades.

A sound knowledge and understanding of fundamental and technical analysis should be every currency trader’s starting point when it comes to building a Forex trading .

Forex Trading Strategy

Forex News
Trading online without Forex news is a gamble at best. All foreign currency pairs can be volitale at any given point and time. That is why it is very important to use a good software program for receiving alerts and signals.

Automated Forex day trading is for people with too much on their plate or for those that are not comfortable with making their own trades. Automated trading systems are powered by highly sophisticated trading software. This type of trading reduces the need for instant updates and news feeds. Using extremely complicated algorithms, automated forex trading systems determine the best time to buy and sell currencies then initiates the trade.
All this is done automatically. Once the investor opens and funds the forex online trading account, the automated trading account can be activated. Next set the system wide stop loss for all trades and let the automated trading system go to work.

Forex Trading Information

The foreign exchange market – better known as FOREX – is the largest market in the world and over a million people buy and sell in the market every single day from across the globe. In this guide we shall look at what some of the most essential FOREX trading information.

What is the FOREX?

As we said before – the FOREX is the largest financial market in the world – and it handles over $1.3 trillion worth of transactions every single day. The immensity of this can be realized when we notice that the sum of all the American stock exchanges combined only reaches $100 billion a day.

It is because of the huge volumes and quick turnover of transactions that makes the FOREX so liquid. There are always buyers and sellers somewhere in the world to trade with.

Primarily the FOREX is a short term market which very much differs from other markets out there such as the stock market. In many markets people will make long-term investments and the time frame between buying and selling assets can be several weeks, months of even years. However, in the FOREX the majority of traders enters and exit a deal within a 24-hour period – many within a matter of minutes.

Advantages of FOREX Trading

There are numerous advantages to FOREX trading over other markets, some of which we have looked at below.

The FOREX is not based in any one location – it is a global market – and because of this it is open 24 hours a day, five days a week. The FOREX opens in Sydney, Australia on Monday morning (or Sunday afternoon New York time) and closes at on Friday afternoon New York time. This offers traders many more opportunities to invest and profit. Most other stock markets are open just 7 hours per day.

As we mentioned before, it is a highly liquid market – meaning there are always people to trade with. This can be seen as a disadvantage though as fluctuations in currencies can occur within seconds so you have to get in fast and stay alert to all changes in the currency exchange rates.

FOREX trading is generally less risky than trading in other markets as well – as there are several built-in safety nets within the trading system.

Transactions done through the FOREX are also commission-free. Foreign exchange brokers do not take a commission but instead set a spread – which is the difference between what a currency can be bought and sold at. In other markets traders have to pay a commission to the brokers for each futures transaction that they enter into.

How to Trade in the FOREX market

FOREX trading can be very rewarding, yet it is essential that you know what you are doing before you dive in the deep-end. Before beginning FOREX trading it is important that you do your research. The more you know about the currencies and countries that they come from that you want to trade – the higher your chances of success. Some of the factors you should research include: trade and budget deficits; Gross Domestic Product; central-bank interest rates, inflation and growth rate amongst other things.

The majority of people these days trade online – and to do so you must first open a FOREX account which is very simple to do. By doing this you will gain access to a trading platform on which you can choose the two currencies you want to trade between and the amount you wish to trade. The most common and secure currencies to convert are between the U.S. Dollar, Japanese Yen, Swiss Franc, British Pound, Euro, Canadian Dollar and the Australian Dollar. However you have the option to trade in any foreign currency that you wish.

Another way to get involved in FOREX trading – and one of the simplest ways – is to head to the bank and purchase the foreign currency in cash that you wish to trade. You then hold onto that cash until the market has risen in turn making you a profit. It is important that you enter into the trade at a good point to maximize your chances of the market changing in your favor.

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Forex Trading School-Where Knowledge Makes a Difference

Every schoolboy knows that getting started is really the only way to learn. To help you do just that, we’ve set up a forex trading school dedicated entirely to educating young traders on the ins and outs of currency trading.

At our trading school you’ll find a step-by step guide to navigating the world of forex trading. Our comprehensive handbook is specifically designed to cater to the needs of those hoping to make a profit in online currency trading.

We have responsibly consulted with a expert educational staff and, with their advice in mind, have purposely divided our forex trading school into steps for your learning convenience:

• Step 1 Forex Trading Background


• Step 2 Forecasting the Market


• Step 3 Making Skilled Decisions


• Step 4 Opening Your First Forex Trading Account


• Step 5 Placing Your First Order

Whether you are a new trader on your first foray into the world of online forex trading or a seasoned trader looking to refresh his skill, our forex school curriculum is guaranteed to give you the answers you need!

Forex Analyzing Tools

If you are going to take Forex trading seriously, you're going to want to invest your labors looking into nothing but excellent Forex analyzing tools. We’ve gone out and gathered these tools for you, and are here to provide you with tried and true, expert recommended, success proven, analyzing tools.

We have found that there is no single, all-encompassing or best Forex analyzing tool. Rather, different traders favor different tools and find them useful at different times. With that in mind, we’ve take the liberty to provide you with enough tools and indicators to let you choose.

The Value of Trade Balance to Local Economy

The balance of trade also referred as trade balance, which sometimes is symbolized as NX, is the difference of the monetary value of imports and exports in one economy in a given period of time. The balance of trade is considered the biggest part of a country’s balance of payments.

Imports, domestic spending, foreign aid, and investment abroad are called debit items while credit items includes exports, foreign investments in domestic economy and foreign spending in domestic economy.

A trade surplus is a positive balance of trade which is consists of more exporting than importing. A trade deficit is the negative balance of trade or sometimes called a trade gap. The trade balance can sometimes be divided as services balance and goods balance just like in the United Kingdom which they use the terms invisible and visible balance.

The balance of trade is a part of current account which includes transactions that includes income derived from international investment and international aid. Thus, if the current account comes as a surplus then the nation’s international net asset increases also while deficit will decrease the international net asset.

A good trade surplus is achieved when a country exports products more than buying imported goods. A trade deficit is eventually experience as a result of the opposite of a trade surplus. The trade balance is alike to the difference of a country's output and the domestic demand. These factors may affect the trade balance: prices of goods manufactured, taxes and tariffs, trade agreements, business cycle (home or abroad), and exchange rates.

The trade balance is different in many business cycles. For instance, export growth like oil and industrial goods which improves when there is economic expansion.

In developed countries like; Japan, China and Germany usually run at trade surpluses in which they experience a higher savings rate. Around the world there are different natural resources which a country may have for instance, countries from the coastal regions are major producers of fish, Canada can be a major producer of lumber because of its huge forests while in the Middle East, has the most oil reserves.

International trade is important so in order to sustain the balance of trade. A country should be totally self sufficient without international trade. Through international trades, each country will have the opportunity to produce specialize goods efficiently. In relation, when a nation specializes in producing these goods, the total production increases instead of trying to be self sufficient. Nations will benefit from international trades and also meets their needs. Generally, nations will trade to other nations when they gain from the trade. But the gains are not usually equal in terms of benefits and profit

What is a Transaction Cost and How to Calculate It?

In economics, transaction costs are the rate acquired when making an economic exchange. This costs incurred when buying or selling securities or stocks. This is also referred as transaction fees. Transaction costs also comprise of brokers’ commissions ad spreads (difference between the price that the dealer paid for a security and the price it may be sold. This is what the broker or bank produce for being a middleman in a transaction.

For instance, most people when buying or selling a security or stock, pays a commission to their broker and that commission can be considered as the fee or transaction cost for doing that stock deal. When evaluating a potential transaction, it is crucial to think about these costs that might prove significant. Mostly, in financial markets, the initial cost for these transactions is commission which is paid to brokers upon trade execution. This costs becomes increasingly important the shorter the holding time of an investment.

Many market models disregard transactional costs, presumptuous instead those markets are non resistant. While this thought is invalid, for many applications such costs are low enough that they can be disregarded. The lesser the cost for a transaction, the more effective and competent a market is said to be. The Foreign exchange market and stock market have lower costs for such transactions of any major asset class.

It is considered to be much more cost- efficient to trade in Forex in terms of both commissions and transaction fees. An online website for example charges no fees or commissions and at the same time offer traders an access to all relevant market information and trading tools. On the contrary, online stock trade commission ranges from $7.95 - $ 29.95 per trade and up to $100 or more per trade with full service brokers.

Another thing to consider, which is an important point is the width of the bid / ask spread. Regardless of the deal size, foreign exchange dealing spreads are normally or common in 3-4 pips (anyway a pip is .0001 US cents) in the major currencies. Generally, the width of the spread in a foreign exchange market transaction is less than one tenth (1/10) that of a stock transaction, which could contain a .125 or one eight (1/8) wide spread.

Since transaction costs are paid via bid/ask spread, there has to be no charges to trade or hidden fees. There are instances that there would be extra charges asked by good brokers for some non compulsory services or access to particular reports. A smaller spread is visibly better. Since brokers are taking the other side of all the customer trades, brokers gain profit by making the spread between the bid and offer prices. You may find that find spreads vary by broker.

How Interest Rates Play a Role in the Currency Markets

Interest rates play the foremost important role in moving the prices of currencies in the Forex market. As the institutions that set interest rates, central banks are therefore the most influential factors. Interest rates dictate flows of investment. Since the currencies are representations of a country’s economy, differences in interest rates affect the relative worth of currencies in relation to one another. When central banks change interest rates they cause the Forex market to experience movement and volatility. In the realm of Forex trading, accurate speculation of central banks’ actions can enhance the trader's chances for a successful trade.

An increase in interest rates encourages traders to invest within that market and causes the demand for the currency to rise. As demand rises, the currency becomes scarcer and consequently more valuable. Investors are drawn to the currency, causing it to appreciate, because they will gain a higher yield on their investments, as in the Jane example. In order to purchase the country's assets (stocks or bonds), Jane will have to convert her domestic currency to the target country's currency also increasing demand. Conversely, a fall in interest rates discourage investors from purchasing assets in that particular economy, as the return on their investment is now smaller. The economy's currency will depreciate as a result of the weaker demand.

Dedicated Web Hosting

Dedicated web hosting can alleviate the need to share hardware or software with any other sites or web pages. Webmasters are given the autonomy to decide on applications that are installed on the server to create specific configurations for their web needs, and have the ability to provide a secure environment for their site. As compared to a shared-server environment, dedicated web hosting offers a peace of mind that a site will be delivered in a reliable and secure manner.

5 Tips when choosing multiple domain Hosting

If you have or are planning to have several domains running on the web, then you should consider getting a multiple domain hosting. Multiple domain hosting allows you to host several domains under a single hosting plan. Most web hosting companies call it shared hosting. Setting up your website is easy with user friendly web hosting companies that provide simple tools for web design. how to build a website

Free ASP hosting

A simple search on the Internet will give you a list of service providers that offer free ASP Hosting. If you compare the free ASP Hosting with paid services, you will find that you will get limited features with free ASP Hosting. The limitations vary with the service provider.

Domain Names, Web Hosting and SSL Certificates - Go Daddy

Description: Register & transfer domains for less. Reliable hosting. Easy-to-use site builders. Affordable SSL certificates. eCommerce solutions. ICANN-accredited.

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Quick Start - Domain Registration Setting Up Godaddy (or another) Account

This example is for www.godaddy.com registration (our favorite low price registrant). However, the concepts for domain registration are basically the same. It's really easy to register a domain - there are many registration sites that charge less than $10/year for each domain. However, watch out - because most will try to entice you into a bunch of extra's during registration. And you can quickly get back to the high prices charged by Networksolutions.com and Register.com (i.e. $35 /year for each domain - which is a 'ripe off' IMHO).

However, the BIGGEST tip you'll ever get for domain registration is : DO NOT let your web host register for you. Many will offer to register the domain for free when you sign up. That is an underhanded trick to make sure it'll be more difficult for you change web host in the future. In other words, if you want to change web host - you have to try to get the web host (or web master) to make the NS (DNS) name server changes. And they will then try to convince you to remain with their service (or worst yet - they may drag their feet and not allow you to move your page immediately. And of course, they will want to continue to be the registrant for your domain - but then they will tell you that it's going to cost you $35/year (or they will try to convince you that you have to sign up for 3 years at a discount of $100 (again much more than the $9/year at godaddy and a lot of other domain registrant).

P.S. We offer free domain hosting ONLY because our competitors make this offer. However, we do NOT recommend that you allow ANYONE to purchase your domain name on your behalf, including a web hosting company (Not even us - despite the fact WE will not play use the nasty tricks that other host use) ! In other words, you really should Always register your own domain - even if someone offers to do it for you - for free ! !

The main 5 steps at Godaddy are:

1. Check Domain Name Availability
2. Select Length of Your Registration
3. Create Your Contact Information
4. Select From Hosting Options
5. Confirm Your Registration Details

VIP: With the new registration rules - be sure to check that your domain is locked after you register (it's free). This will keep a 'hacker' from transferring your name without your permission.

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Go To

Enter Desired Domain Name
Select Extension (com, etc)
Check to see if open

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Domain Taken

Either check out alternate 'extensions'
Or go back and try for another domain name

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Domain Open:

Note: This is Step 1 of 5
Check all 'extensions' required

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Smart Registration (recommended)

Go Down - Use Smart Registration

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New Account Info:

Click 'no' (for no previous account)
Select length of registration
Fill in the *required* info

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Private Info / Auto Renew:

You must decide (but I do public)
Private means all domain 'loads' go thru
Their server (and cost about $9 more)
(Not worth the extra layer n money IMHO
Auto Renewal means credit card info on file :(

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Enter Name Server:

This example shows client with a
Web Host i.e. DNS (name server)
info was already acquired
Most web host instructions provide this info
(the example shown is for one of my services)
VIP: If NS unknown - use 'free parked' option

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Proceed to Checkout:

Check the Domain Agreement (after reading)
(Next are many offers (you don't need :)

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Many Offers (more $$$):

Button Hidden at Bottom - under
A lot of advertisements
For things you probably do not need

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No Thanks:

This "Specials" page - hides
the exit in the 'no thanks' link

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Select Pay Method::

Brainfart: Perhaps if you have .org (non-profit)
with PayPal Donation Button Account
Paypal may be good 'tax' choice :)

Transfer domain names from GoDaddy to our hosting

Overview

This page takes you step by step through the procedure for transferring a domain away from GoDaddy and into an account at Webhost4life.

The transfer process involves the tasks that are described below. Following the transfer tasks, we provide information about tracking the progress of the transfer, and ICANN rules regarding rejections.

Transfer Task 1: Verify that the domain name is eligible for transfer

To make sure your domain name can be transferred, check the following:

• The domain name has been registered for at least 60 days, and has been at GoDaddy for at least 60 days.
• The Registrant contact information has not changed for at least 60 days.
• The domain name is not in "client update prohibited" status.

Transfer Task 2: Update Administrative contact information

Before you can transfer a domain, the Administrative contact information (especially the email address) must be up-to-date at GoDaddy, because the Administrative contact receives the transfer request and okays the transfer.

Note: GoDaddy regards any changes to the Registrant contact information to be an "internal transfer" and will reject any transfer requests for 60 days after changes to the Registrant contact information. We recommend that you leave Registrant contact information as-is at GoDaddy. As long as either the Registrant or Admin email address is correct and you're using the Auto Verification method, you can make any needed changes once the domain name has successfully transferred to Webhost4life.

To update the Administrative contact at GoDaddy:

1. Log on to your account at GoDaddy.com.
2. On the "Domains" menu, click "My domain names".
3. Click the domain name you want to transfer.
4. If the Administrative contact information is incorrect, click the "edit" link next to the Administrative contact at the bottom of the page.
5. Update the Administrative contact information and click "OK".

Transfer Task 3: Obtain the authorization code or retag the domain name

Some TLDs require that you provide an authorization code for your domain name, to provide an extra level of assurance that the transfer request comes from an authorized source.

To transfer a .com, .net, .org, .info, or .biz domain name, obtain the authorization code from GoDaddy:

1. On the "My domain names" page, click the domain you want to transfer.
2. In the "Authorization Code" section, click "Send by email".
3. Click "OK".

To retag a .uk domain name:

• Contact GoDaddy and ask them to retag the domain name to ISP tag Webhost4life.
• Alternatively, you can retag/detag directly through Nominet, for a fee.
• When you transfer a .uk domain name, use the Auto verification transfer method.
• You can submit the transfer requests to Webhost4life and GoDaddy in any order.
• If you submit the transfer request to Webhost4life first, you must submit the request to GoDaddy within a week.
• If you submit the transfer request to GoDaddy first, you must submit the request to Webhost4life by the next 8th day of the calendar month.

Transfers of TLDs other than those named above do not require any codes or tags.

Transfer Task 4: Unlock the domain name

Before you can transfer a domain name away from GoDaddy, it must be unlocked. Locking is a feature most registrars offer to prevent unauthorized transfers (hijacking) of domain names.

To unlock:

1. On the "My domain names" page, click the domain name you want to transfer.
2. In the "Settings" section, next to the "Locked" status, click "Change".
3. Select "Unlock" and click "OK".

Transfer Task 5: Transfer the domain name to Webhost4life

Once you have prepared the domain name at GoDaddy, you're ready to transfer to Webhost4life.

To transfer your domain name to Webhost4life:

1. Log on to your Webhost4life control panel.
2. Navigate to "DOMAINS" > "domain transfer
3. Enter domain name you wish to transfer.
4. If the domain name is transferrable, you would be taken to the next page to fill out the contact information for your domains. Once you click submit, the transfer authorization request email will be sent to your administrative contact email address.
5. Once you receive the transfer request email, you will be able to launch the transfer authorization request email and fill in the authorization code if needed.
6. Click "submit" to finish the transfer authorization request