Forex Trading Guide | ForexGen

Forex trading (or FX - foreign exchange trading) offers excellent opportunities for you to profit from movements in global foreign exchange markets starting with a small capital investment.

Forex Trading Guide is a series of FREE beginning forex trading tutorials to introduce you to the global forex markets, and help you become a successful and profitable forex trader. Along the way, you will gain an understanding of how foreign exchange prices move, how to develop your own trading system, and learn the mental attitude required to become a winning forex trader.We have recently added a collection of articles on automated forex trading, including many Metatrader 4 Expert Advisor Scripts (also known as MT4 EA scripts).There are also many new free forex eBooks with useful content. There is also a list of possible forex trading strategies for you to test out. You can either use these ones or modify them to suit your own trading style!

ForexGen customer satisfaction is our major objective. To reach our business goals, we strive to put our client's goals in focus. We highly value our clients and always aim to exceed their expectations and cross the limitations encountered by the sophistication of the Forex trading industry.

Offshore Forex Trading | ForexGen

Offshore forex trading is an option. There are many offshore forex brokers out there. However, one needs to be very careful in regards to the risk of fraud. Many offshore brokers have no regulation at all so in theory they are potentially unsafe.

The big question I hear you ask is: What happens of my offshore forex broker goes bankrupt?. In many cases you will actually end up losing your money. This is certainly not a risk you would want to take. Forex trading in itself is risky enough without having additional risk of broker fraud.

So what can we do to minimize the risk of offshore broker fraud?

There are many things we can do to reduce the risk. Firstly, An important thing to look at is the length of time the broker has been in operation in it’s current form. If an offshore broker has been around for over a decade, this would suggest that the broker is making a consistent broker. However, if a broker is only two months old, then they will have all the risks associated with setting up a forex broker and may be more likely to fail.

Another thing we can do to minmize the risk is to look online for comments and reviews on a broker. If you do this, be sure to look at many different sources because it is not uncommon for competitors to intentionally write bad reviews about a broker in order to try and steal business.

Below are a list of some offshore brokers. Please note that these are provided for informational purposes only and by no means recommended

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Forex Trend – Why it is your friend | ForexGen

The forex market is one of the best trending financial markets. This makes it an ideal choice for trend trader or momentum trades. However, some pairs clearly have trended a lot better than others in the past few years.

Perhaps the best forex trend pair in recent years has been EUR/USD or fiber. There has been a clear trend to the upside since 2001. In this period the pair has risen from around the 0.81 mark all the way upto 1.6. Around a 100% increase. Now that would have been a nice trend to ride.

Many of the Yen Carry pairs did very well in recent years, but many of those have fallen down in recent months due to all the problems in the global stock markets due to high oil prices and the credit crunch. Historically, the Yen carry trades have had considerable correlation to the global stock markets.

Another fantastic trending pair is USD/CHF, otherwise known as “swissy”. This pair has essentially been in a very long down trend since 1985. Back in 1985 the pair made a high just shy of 3 swiss francs to one. Today the pair stands around parity, but it did make a low around the 0.96 mark in 2008.

When it comes to the forex trend, it is important to remember that they cannot last forever. It is often the case at some point of “What goes up, must come down” and vice versa. This is not always true, but often. It is certainly often not a good idea to buy pairs when they are making new highs or sell when they are making new lows. This is often to late and can be very risky.

One strategy that some traders use is to identify a strong trending pair. Then draw Fibonacci retracement lines for a desired time frame and then wait for a 50% retracement of the trend, the buy or sell the currency

What is a Forex Pivot point? | ForexGen

This article looks at exactly what a forex pivot point is and how to calculate one.

Forex pivot points can be calculated using this simple formula:

(Previous high + previous low + previous close) / 3

So for example if on the daily forex chart for GBP/USD the follow was true:

High 2

Low 1.98

close 1.99

The pivot point would be (2+1.98+1.99)/3

In the instance the pivot point would be 1.98.

Pivot points can be worked out from any time period. You just need to use the previous candle for the calculation.

Pivot points can be very important in forex trading because some traders place there stop losses and take profit points at them. As a result they can act as support and resistance and the market will often “bounce” at them.

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