Courtesy: Currency Trading Made Easy.

Want to get started in Forex and dont know where to start?

Then you have come to the right place. Ill maintain this section for total newbies who have no idea where to start.

Ill keep a list of Forex books/Articles/videos and other resources that should appeal to a wannabe trader.

If you are an advanced/intermediate Forex trader, and want some great books to munch on, Just check our Forex Books Section and you will definitely find something to your liking !


So lets make a start to this Latest section on 4xpoint!

Books

Forex Made Easy is written by James Dicks. He is the founder of the very popular trading software "4x made easy"

Forex Made Easy is first of its kind. Its the first forex book the focuses on understanding Forex first, rather than jumping in to complex strategies.

The book starts off in a very simple language(Jargon being well avoided esp at the beginning) on simple topics and gradually advances to more complex issues.

The Author James Dicks doesn't beat around the bush and is very straightforward and to the point.

He guides in simple words on how to setup a work station and to how to perform trades electronically.

DOWNLOAD HERE!


This Forex Book is very aptly titled "Getting Started in Currency Trading". It mainly focuses on doing exactly that.

This book will guide you in the following

-->Make You aware of the important points you should keep in mind while currency trading

-->Give you a detailed understanding of money management

-->Tells you where to find more relevant information

In short, perfect for the newbie trader.

Now, you don't need to download it as we posted the entire book on our blog.

READ IT HERE







ARTICLES

The Simplest Introduction to Forex Trading :

I wrote this Introduction to Forex keeping this section in mind. I tried to explain in very simple language what Forex Trading is all about. Hope You guys will like my effort. If you have any questions, do leave a comment.

Why Trade Forex?

There a huge number of business/investment opportunities out there. Then whats so attractive about the Forex Market that has made it the largest financial market in the world.

And why Exactly you must invest in Forex.


A Beginners Guide to Self Trading Forex

The title says it all!

Hey again,

Back after a wee bit of gap. Actually, was down and out with viral fever. Took me some time for recovery. Still not 100% though.

Anyways, In my last post i posted one part of Introduction to Forex by Mark McRae . Instead of posting it in single parts. I just decided Ill let you download this Forex Ebook in One go!

So Download and Enjoy! Its hosted on Rapidshare

DOWNLOAD INTRODUCTION TO FOREX

Will be looking forward to posting some new stuff soon.

If you have been away from all the action that's happening on our blog, don't forget to bookmark this site as your homepage.

Well, once again it is Saturday. There is no trading at all today so I have some time to reflect on wider issues. So, as someone who wants to trade full time for a living, I am feeling the need for the following:A nice large workstation including a comfortable reclining chair. As an active trader I can find myself sitting at the keyboard for many hours at a time so I might as well be

So, I've been practicing my strategy using a micro-account for months, and it's time to up my game and start trading for real.I capitalized my account on Thursday evening and have been playing the AUDJPY with a more serious dollar value for the last two days. Here is a summary of the mistakes I noticed myself making over this period:Discipline breakdown. I broke discipline and acquired too many

It isn't here yet, and that means it may never arrive, but we are currently looking at a potential double top on the AUDJPY.This means that the DOW could also be poised to give up some recent gains.Obviously, the DOW can do what it wants, but if you are seeing gains right now and are thinking of jumping in, be wary.Personally, I'm hoping for the downturn. If it happens according to "my" chart

Courtesy: Currency Trading Made Easy

Hey everyone..

WELL, I hope you guys like our new Forex domain www.4xpoint.info

BTW i also registered www.4xreviews.com

Planning to develop a Forex reviews Site on it or maybe sell it off if i get a decent offer ;)


So well Moving ahead.. The first POST since we changed our domain to www.4xpoint.info

I am planning to post the Ebook "Introduction to Forex" by Mark McRae. This Forex Book is in 9 parts.

SO i will simply post a part each day hopefully.

Here is the first part


INTRODUCTION TO FOREX ( http://forex-trading4you.blogspot.com/ )



The purpose of this ebook is to introduce the forex market to you. As with many markets there are many derivative of the central market such as futures, options and forwards. For the purpose of this book we will only be discussing the main market sometime referred to as the Spot or Cash market.

The word FOREX is derived from Foreign Exchange and is the largest financial market in the world. Unlike many markets the FX market is open 24 hours per day and has an estimated $1.2 Trillion in turnover every day. This tremendous turnover is more than the combined turnover of all the wordls' stock markets on any given day. This tends to lead to a very liquid market and thus a desirable market to trade.

Unlike many other securities (any financial instrument that can be traded) the FX market does not have a fixed exchange. It is primarily traded through banks, brokers, dealers, financial institutions and private individuals. Trades are executed through phone and increasingly through the Internet. It is only in the last few years that the smaller investor has been able to gain access to this market. Previously the large amounts of deposits required precluded the smaller investors. With the advent of the Internet and growing competition it is now easily in the reach of most investors.

You will often hear the term INTERBANK discussed in FX terminology. This originally, as the name implies was simply banks and large institutions exchanging information about the current rate at which their clients or themselves were prepared to buy or sell a currency. INTER meaning between and Bank meaning deposit taking institutions normally made up of banks, large institution, brokers or even the government. The market has moved on to such a degree now that the term interbank now means anybody who is prepared to buy or sell a currency. It could be two individuals or your local travel agent offering to exchange Euros for US Dollars. You will however find that most of the brokers and banks use centralized feeds to insure reliability of quote. The quotes for Bid (buy) and Offer (sell) will all be from reliable sources. These quotes are normally made up of the top 300 or so large institutions. This insures that if they place an order on your behalf that the institutions they have placed the order with is capable of fulfilling the order.

Now although we have spoken about orders being fulfilled, it is estimated that anywhere from 70%-90% of the FX market is speculative. In other words the person or institution that bought or sold the currency has no intention of actually taking delivery of the currency. Instead they were solely speculating on the movement of that particular currency.

Source: Bank For International Settlements http://www.bis.org
Extract From The Triennial Central Bank Survey of Foreign Exchange and Derivatives Market Activity.
Currency 1989 1992 1995 1998 2001
US Dollar 90 82.0 83.3 87.3 90.4
Euro 37.6
Japanese Yen 27 23.4 24.1 20.2 22.7
Pound Sterling 15 13.6 9.4 11.0 13.2
Swiss Franc 10 8.4 7.3 7.1 6.1

As you can see from the above table over 90% of all currencies are traded against the US Dollar. The four next most traded currencies are the Euro (EUR), Japanese Yen (JPY), Pound Sterling (GBP) and Swiss Franc(CHF). As currencies are traded in pairs and exchanged one for the other when traded, the rate at which they are exchanged is called the exchange rate. These four currencies traded against the US Dollar make up the majority of the market and are called major currencies or the majors.



--> Now, I hope you guys Enjoyed the first part.

Will post the second part soon.

You might check out the recent FOREX BOOKS I posted recently

Encyclopedia of Chart Patterns- Thomas Bulkowsky- Wiley Trading- Forex Book

Trading Systems and Methods Perry Kaufman

Encyclopedia of Trading Strategies-Forex Book Download

Day Trading the Currency Market -Kathy Lien

Intermarket Techinical analysis-forex book download

Download Come in to my Trading Room- Forex EBook

This morning I wake up to verify that I've made about 30% of the NAV (net asset value) of my downside trading sub-account. Sweet!How did I do this?I have been charting the AUDJPY for several days. There is a clear down trend and at 7:30pm last night the price touched the top of the trend. From there I'd been able to accumulate short positions, setting protective stop losses before opening up