Forex Justice - The Fair Forex Trading Forum

Foreign exchange currency trading is a risky business with much to lose and much to gain. As a professional forex broker and personal trader, I have realized the fast profits this market can reap, while witnessing the dog-eat-dog nature of the beast, in which buyers lose their shirts every minute. Whether you are a forex trader or just curious about forex currency trading, you owe it to yourself to separate the wheat from the chafe. The Internet is awash in foreign exchange currency trading websites whose sole existences are dependent upon ignorant forex investors. From get-rich-quick forex software schemes to free forex training, forex educational seminars, free forex signals, forex forums, and more, the fraudulence that surrounds the fx trading market is frightening. Forex trading is very different from the U.S. stock market. The major differences include:
Forex has no central exchange
Forex trading can be done around the clock
Forex has no overseeing regulatory commission, such as the SEC
The forex market is a wild, open arena without rules, laws, or a governing body. No one cares if your money is taken. No one will lose any sleep if you’ve been lied to. There are no repercussions if you’re treated unfairly. Investors trade at their own risk and have no legal recourse to enforce justice. I know. I’ve been there. The scammers have burned me more than once. In an attempt to further my own knowledge, I fell for the magical software sales pitches and followed the crooked paths to the stolen treasures, only to be let down ad nauseam.I served my time as a forex broker, which was an eye-opening experience. I heard and saw the manipulation of client profits that was business as usual. It quickly shifted my interest in trading and brokering forex to that of protecting forex traders. I redirected my efforts from studying daily forex signals to researching forex websites. I was determined to devise a resource on which forex investors could rely for honest, fair information exchange.

Forex News and Events:

When the smoke cleared, not much really happened at yesterday's much hyped Central Bank announcement. In fact, we would venture to say that the day's only real fireworks occurred when rumors spread of the resignation of PM Gordon Brown and/or Alistair Darling. The GBPUSD fell from 1.6400 to 1.6090 on the false news. The once untouchable Sterling has now taken on a decidedly bearish tone. Yesterday's aggressive selling highlights the nervousness surrounding the currency. Analysis’ had spun clever tails to rationalize the cables strength, after the S&P downgraded the counties outlook , but in reality perhaps the GBP should be punished along side the USD for fiscal and monetary irresponsibility (just ask Merkel). The EURUSD traded virtually on 1.4200 all night, there seems to be little impetus for a higher EURUSD. The head and shoulders formation we're seeing is setting us up for a reversal trend to at least 1.4050 (next crucial support) and the NFP's could bring the impetus for further dollar gains. The last 24hrs in the FX markets have been quite volatile, while other assets classes have been relatively stable, hinting to further volatility ahead for FX traders. Commodities like copper and crude are now close to or breaking yearly highs, equity markets continue to storm forward and the yield curve carries on steepening. Recapping yesterday's BoE, ECB and BoC rate announcements, all left rate unchanged. The most interesting development was Trichet's attempt to add detail to the ECB eur60bn covered bond purchase program. Perhaps sensing the markets request for an exit strategy (which Bernanke slightly touched on this week), Trichet went out of his way to stress that the ECB would develop one when the economy turned around. We are concerned that in order to appease certain EU politicians the ECB might trample the fragile recovery. Currently the rally in risky assets has stalled in front of the always important NFP release today. The market expects the smallest decline in payrolls since October at -520k vs. -535k prior reading. Interestingly the range of forecast on Bloomberg is tight which will means a surprise in either direction should have significant repercussion in the FX markets. USD trading is still counter intuitive with a US negative number positive for the USD and vise versa..

Forex - A Rewarding Money Potential

Foreign Exchange Market is a market where traders buy and sell currencies with the hope of making a profit when the values of the currencies change in their favor. In other words, buy low, sell high.Forex Market is no doubt a big income potential, if you know how to trade and make it work in your favor. With the growth of the Forex market, it has a big potential for everyone, ranging from large corporate firms to people like you.It is a very exciting trade with a huge money-making potential. before it wasn't even available for small accounts for individuals, but everything changes, right? Grasp the power of forex, and even in few minutes a day you can build tremendous wealth rather than being stuck in a job making someone else rich and working long hours.Truly a very rewarding path to take.

IFX Markets

IFX Markets is a specialist provider of margined Forex, offering 24 hour commission-free trading with tight spreads.
Our electronic trading platform, IFX Direct provides real-time tradeable prices in 48 spot currency pairs including gold and silver and 40 IMM and FINEX EFP contracts.
IFX offers flexible trading solutions combining competitive spreads and low margins from just 1%. You can trade online through IFX Direct, IFX API, telephone* or via Reuters with 24 hour support from our experienced dealers.
We additionally provide a telephone service* to clients interested in trading options on Forex and Bullion in market amounts.
IFX Markets is a division of City Index Ltd, one of the UK's leading providers of retail derivative trading services. To find out more about other services offered by City Index, including CFD trading and financial spread betting, visit

Forex Scalping

Forex Scalping can also be called a quick trading. It is a method where traders allow their positions to last only for a matter of seconds, to a full minute and rarely longer than that.(As a rule if a trader holds to a position for more than a minute or two it is considered no longer a scalping, but rather a regular trading.)
The purpose of scalping is making small profits while exposing a trading account to a very limited risk, which is due to a quick open/close trading mode.
There wouldn’t be any point in scalping for many traders if they weren’t offered to trade with highly leveraged accounts. Only ability to operate with large funds of, actually, still virtual money, empowers traders to profit from even a 2-3 pip move.
How do they do it? Suppose a scalper opens a trading position of 100 000 units with EUR/USD. For each pip he will now earn $10… Closing in with only a 3 pip profit brings it up to $30 — not bad for less than a minute of work…

Forex watching Italy and the Euro

One of Italy’s most well known fashion branded export Benetton has reported a fall of 38% in their quarterly profits on the first quarter of 2009. Benetton is the well known fashion brand that was widely recognised by their unusual and sometimes controversial advertisements. The fall in net profits of over 190 million Euro on the same sales period from last year. Forex investors will watch closely the profit, losses and changes that companies like Benetton make over the coming year. The Forex market relies on the indicators of retail, manufacturers and exports in general especially from key currency markets such as the EU to show overall trends and to gauge changes and fluctuations in the Forex market. The key changes that Benetton have announced is that there will be a delay for when their Autumn Winter collection will hit the sales. They are also reorganising their production in terms of source product, output and shipping . Benetton have stated the ‘unfavourable euro exchange rate with the currencies of emerging countries’ such as the Korean won, the Indian rupee, the Turkish lira and the Russian rouble as having affected their sales and first quarter results.

Forex Money Management

Put two rookie traders in front of the screen, provide them with your best high-probability set-up, and for good measure, have each one take the opposite side of the trade. More than likely, both will wind up losing money. However, if you take two pros and have them trade in the opposite direction of each other, quite frequently both traders will wind up making money - despite the seeming contradiction of the premise. What's the difference? What is the most important factor separating the seasoned traders from the amateurs? The answer is money management.
Like dieting and working out, money management is something that most traders pay lip service to, but few practice in real life. The reason is simple: just like eating healthy and staying fit, money management can seem like a burdensome, unpleasant activity. It forces traders to constantly monitor their positions and to take necessary losses, and few people like to do that. However, as Figure 1 proves, loss-taking is crucial to long-term trading success.