DailyFX Forex Forum | FX Forum - Forex Education and Analysis

Avoid Losing All Your Money in the Forex

Posted 04-27-2009 at 01:06 PM by LearningMarkets.com (Forex Education and Analysis)

It's heart-breaking, but we get an email like this at least once a week: "I tried trading forex because a friend recommended it, but I quickly lost all my money. Now I am trying to learn to trade smartly."

The worst of these emails tell us the money the lost is their "entire savings" or "retirement money."

Sadly, it's very easy to lose all your money trading forex if you aren't prepared and haven't learn solid trading principles.

Here are the most common mistakes, and information to help you avoid them:

Inconsistent Position Sizing

The amount you put in each trade, in actual dollars and as a percentage of your account value, can make a major...

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Forex Futures vs. Spot Forex Accounts

Posted 04-22-2009 at 02:38 PM by LearningMarkets.com (Forex Education and Analysis)

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You will see a lot of marketing materials out there explaining why the spot market is so much better and cheaper than the currency futures market, but how much of it is fact and how much is hype? What are the real differences between these two closely related markets? Is it really cheaper to trade spot forex? Aren’t there also advantages to trading futures? This is an important topic because so many of the differences are related to trading costs, which is often a neglected subject among both new and experienced traders.forex futures

Warning: It is very common to see incorrect or misleading information about futures and the trading costs associated with them in a spot forex dealer’s marketing...

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Finding new support levels on the EUR/USD

Posted 04-20-2009 at 01:13 PM by LearningMarkets.com (Forex Education and Analysis)

Sunday, 19 April 2009
By Ryan Teeples

The descending resistance level on the EUR/USD has been very consistent for the last month or so, while support has remained fairly horizontal over the same time period.

The descending triangle formed by these support and resistance levels was nearing convergence in the consolidation zone last week, and we were watching for the breakout.

Editor's Note: If you aren't familiar with these principles be sure to read Charting with Support and Resistance or Technical Patterns to learn more.

The break from the consolidation zone came a bit earlier than expected, as Friday the pair pushed dramatically through resistance, and now looks to establish...

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The Iraqi Dinar Scam - Part One

Posted 04-15-2009 at 01:05 PM by LearningMarkets.com (Forex Education and Analysis)

by John Jagerson

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The Iraqi dinar "investment" opportunity is a scam that has been around for a few years and has recently been regaining much of its former popularity. The opportunity is pitched as a way to profit from a nearly worthless Iraqi dinar that is "sure" to appreciate in the future. The scammers promise that millions of dollars in profits are virtually guaranteed if you buy the dinars at today's values (about 1,000 dinar to 1 US Dollar) and then exchange the dinars back for dollars at a later date once the dinar exchange rate has improved.

However, there are some fundamental problems with the Iraqi dinar scam that potential buyers should be aware of before...

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Profiting With Forex (PFX) started as the fulfillment of a promise made in the book, Profiting With Forex. There are so many books and sites out there that offer information and education around the forex, but we wanted to make sure traders could take the principles we offered, and apply them in the actual market.

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