Starting Your Forex Trading Education With ForexGen

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There is so much to learn for those who wish to trade in the forex market. A good place to start your forex trading education is with the study of support and resistance.

The concepts of support and resistance are often viewed as complex by the beginning trader. They are definitely two of the most widely discussed facets of technical analysis. A complete study of this subject is not possible in one article, but we’ll simplify the subject by focusing on the very basics of what beginning traders need to know.

When you view a forex trading chart, you’ll see that price doesn’t usually move in a straight line. A price will go up, then down, then up again, giving the appearance of a zigzaged line.

When you draw a line connecting the lowest price points, that is your support line. To draw a resistance line, you would connect the highest price points. This is only a very basic idea to provide a picture; there is more to determining which bottom points and which top points need to be considered.

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Support is a level which tends to act as a floor by preventing the price from being pushed downward. It is represented on a chart as a line that connects specific low points. Prices are more likely to bounce off this level rather than break through it, but once the price has broken this support level, it is likely to continue dropping until it reaches another support level.

A resistance level is the opposite of a support level. This is where the price tends to find resistance as it pushes upward. And as with support, the price is more likely to bounce off this level rather than break through it. However, once the price has passed this level, even by a small amount, it is likely that it will continue rising until it finds another resistance level.

If a price breaks past a support level, that support level often becomes a new resistance level. The opposite is true as well, if price breaks thru a resistance level, it will often find support at that level in the future.

Many technical traders will use the support and resistance levels they’ve identified to choose strategic entry/exit prices because these areas often represent the prices that are the most influential to a currency pair’s direction.

At first the concept and explanation behind identifying these levels seems easy, but as you’ll find out, support and resistance can come in various forms and it is much more difficult to master than it first appears.

Hundreds of price patterns can be identified using only support and resistance, and they can be found in any time frame charts. Entire trading strategies can be based solely on support and resistance levels. It is very possible for a trader to make a good living trading forex once these concepts are mastered. So if you’re looking to get up and running as quickly as possible, we urge you to start your forex trading education by mastering the concepts of support and resistance.

ForexGen provides a unique online trading experience based on our intelligent online Forex trading package, the ForexGen Trading Station, including the best online trading system.

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ForexGen.com is an online trading service provider supplying a unique and individualized service to Forex traders worldwide. We are dedicated to absolutely provide the best online trading services in the Forex market.

Automated forex trading systems have resulted in this type of trading becoming commonplace. What was once the sole domain of banks and other such large investors, financial and otherwise, is now luring small and mid level investors. At this market currencies are traded from various countries of the world. Transactions worth trillions of dollars take place here every day without a break; no wonder then that this is one of the largest and most alive financial markets.

Now that there is internet and advanced computer technology in place, any one with an internet connection, a forex trading account and good brokering knowledge can trade in forex. However to remain on top, it requires constant monitoring as global markets are open round the clock. Well with these systems you can choose a currency, its asking and selling price in advance. Your buy and sell orders can get instantly executed so all you need is your seed money and a broker to help you.

You do not have to be a professional to earn profits from this trade because the automated forex trading software take care of all the work for you. The trading program acts like a human expert and manages the trading for you. Therefore automated systems help you save time as you do not handle the trading yourself. A reliable trading platform would let you manage a number of accounts at the same time which is impossible in manual trading. The biggest advantage of these programs is that you are allowed trading many systems in many markets.

With these forex trading systems that operate automatically, you can trade any time of the day or night and you do not have to be present. Even if you are physically absent from your computer, you need not miss a single profitable trade. It is then easy to operate on different systems and deploy several forex strategies. Each system is designed to be activated by some specific trade factors so you can spread your investment and get maximum returns with minimum risk accordingly.

The best part about these automated forex trading software is that it does not take into consideration any human factors which often stand in the way of making rational trading decisions. You can now have the capacity to manage several currencies and monitor and trade them too.

While you may use an automated forex trading system, if you want to provide an income derived from this well into the future, you cannot expect the system to do it alone; a certain amount of study is still required. Several factors and variables influence the forex market so just using an automated system can not guarantee you long term success in this venture. The automated forex trading system allows you the flexibility of customizing it to suit you.

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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 now has a trading new client called MultiTerminal. The MultiTerminal is intended for simultaneous management of multiple accounts, for which is mostly helpful for those whom manage investors' accounts and for traders working with many accounts simultaneously.

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.
If you are an experienced ‘FOREX’ Trader or just a beginner looking for the opportunities offered in the ‘FOREX’ market, Forexgen has created ForexGen Academy to give you the chance to get a ‘FOREX’ education and improve your trading skills.
No hard expressions, no buzz words, and no rocket science language are used throughout these lessons.

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Gaining Forex pips is what forex trading is all about. If a trade is closed for a plus number of pip, it will usually be a profitable trade.

However, a trader can end a trading month in positive forex pips and still have post a negative percentage for the month. Let’s look at how this can be.

Let’s say that your favorite trading pairs are GBP/JPY (Geppy) and USD/JPY. Most of know the GBP/USD typically moves a lot more pips than USD/JPY. This can often mean it is highly advisable to trade considerably smaller lots on GBP/JPY trades than on USD/JPY trades.

Lets say that for the month, all of the traders GBP/JPY trades were for 5 mini lots or half a full lot. This would be 50,000GBP on each trade. In this scenario each pip value will be worth 500 yens.

If all of the trades on GBP/JPY at the end of the month are +500 pips. That would net a profit of 250,000 yens.

Now let’s say the trader uses 1 full 100,000 lot on his USD/JPY trades. This would mean each pip value is worth 1,000 yens. And lets say his USD/JPY trades don’t go very well and they end up -300 for the month.

In this above scenario the trader ends up +200 pips. This is the +500 – 300.

However, the GBP/JPY trades end up netting 250,000 yens as menioned above.

But due to the higher pip values the USD/JPY trades end up losing 300,000 yen. So there is a net loss of 50,000 yens.

So as you can see in this example, positive pip values that include more than a single trade, do not necessarily mean positive returns!

The pip values in dollar terms in this example will fluctuate constantly depending on the USD/JPY exchange rate.