Forex Exchange Info, Tips & Resources

Oguz Z asked:


For stock trading, there’s the virtual stock exchange which is free and damn good. Is there a free, virtual forex trading site?? Any help?

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im_da1_ur_parents_warned_u_about asked:


1. what are the advantages, disadvantages of each, inshort comparison?

2.i m from Pakistan, Arif habib investment is the group i wanna invest in with a SMALL AMOUNT, in mutual funds. He is also the president of Pakistan stock exchange. that i am sure is a plus point.

3.ETFs have to be handled by oneself. on the contrary i am a salaried person have no time to take care of my investment or buisness. so i need managers to look out for me. they have been working for the past 5 years. their minimum is 26% profit, max is 80% in 2002. the charges 1.5%. by long term i mean 5 or 10+ years.

4. how long would should an investment on average take to double in such a mutual fund?

5. can mutual funds in Asia sub-continent really meet inflation rate?

6. Are there other investment opportunities which one u think is best and why, for a person like me, ? i m looking forward to looooooooooooooooooong detailed answers. Thanx

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Joe G asked:


How is the value of currency calculated? I don’t want answers like, (interest rates, or supply/demand). The new york exchange market is calculated by software written by people in the new york exchange market. Since the currency trade is open in many different countries, how is it calculated, does the software that tokyo use, different than in london? ect. Not sure if i asked this right, but I am wondering if there is some type of software that all banks share, and is it written by a european?
Follow up. The new york exchange deals with stocks. What exchange deals with currency?

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westphalia1 asked:


I live in the USA and am interested in investing in Canada. However the TSX listed stocks and options are off limits to USA residents right now. Trying to invest and take advantage of the US/Canadian dollar exchange right and come out ahead. NOT REALLY interested in FOREX. Investment Unit Trusts? Canadian Mutual Funds? Others? Thank you.

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John S asked:


I am going to be paying income tax for the first time on some small earnings I made trading EUR/USD on the Foreign Exchange. I need to know if this type of trading is considered “commodities”, subject to the 60/40 (23%) rate, or if this is considered “futures”, and therefore 35% rate.

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ricks asked:


I want to buy foriegn currencies & already have an idea of which ones. I am not putting in a great deal (maybe $100 sporatically here & there, put in over time). Is it a good idea to go to a currency exchange place downtown & just buy it & let it grow, which it has & all indications show it will, even more & faster.

Most of those Forex (not bashing any trader or broker, thats just the most popular one that I see) type traders tend to have high minimums just like brokers in order to do business, plus fees. I know that exchangers have fees too, but considering that I cant get into the market any other way, what do you think?
Box815:
Thanks for the insight! I know that I would be up against issues like that, but what are the options, if any, other than doing that & not being able to do it at all, using the big currency brokers with high minimums?

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Pilot777 asked:


This paragraph from a website and i want to understand it in street words , please tell me what is saying here in simple words :

“Because you’re not buying anything physical, this kind of trading can be confusing. Think of buying a currency as buying a share in a particular country. When you buy, say, Japanese Yen, you are in effect buying a share in the Japanese economy, as the price of the currency is a direct reflection of what the market thinks about the current and future health of the Japanese economy.

In general, the exchange rate of a currency versus other currencies is a reflection of the condition of that country’s economy, compared to the other countries’ economies. “

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lucstudent asked:


I believe the Dow will hit 12500 today. Considering that not only have all support levels for the Dow has been broken, but there should also be mass volatility coming into the market. I also study the correlation between Forex and the Dow. Central banks have strong control over the rate of exchange between countries. For the pass few days, the JPY has greatly appreciated against the USD and the EUR and GBP has strongly devalued against the USD. During these pass few days is also when the DOW faced heavy correction. As of now, the U.S. markets hasn’t even opened, but EUR has devalued a hundred pips and JPY has appreciated over a 100 pip in a matter of seconds. I’ve never seen a move so powerful before. I think this is a strong indication that the Central banks is EXPECTING another severe drop, and this strong movement explains how the Central bank’s expectations are being factored into the price.
Almost there

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Mr. Money Questions? asked:


I want to get into foreign exchange trading and have been looking into several different expert-advisor autotraders, but was hoping that there would be some people on here that have used one or two and could tell me which ones they have used and liked and which ones to stay away from. Thanks in advance for your posts!
* If you could please leave some details (numbers) about how successful or unsuccessful you were, that would be great… thanks!
** I noticed that Tori retracted her post, well done calling her out on that Ted.
*** Knowledge Base, thank you for the post. I certainly agree that it is imperative to learn about the market prior to buying any automated software. However, I know that some legitimate and extremely successful investors do utilize computer software to aid them leaving me to believe there must be a credible sytem in existence. However as you also noted, if you are in possession of such software, where is the incentive to share it with others.
**** There have been a few different posts that have recommended FapTurbo, does anyone have anything negative to say about this autotrader? I have done some searching myself and have also come across some good reviews for this program, but I’m always hesitant to trust the reviews I see on websites as these people often have deals with the people selling the program. Thank you everyone for your posts so far.

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Wannabe007 asked:


Does anyone know what license a foreign exchange trader needs… if any? I have a series 7 and 66.. what about Forex?

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