CURRENCY TRADING FOR DUMMIES

FOREX TRADING

My ex-girlfriend Saa-rah got divorced  in 2011, that's just five short years ago.  She had worked for a large banking group as an IT manager in their credit card division for almost 25 years. She earned good money and managed to buy a very beautiful and expensive home in a fairly upmarket golf estate. Unfortunately her marriage was doomed to fail since she married him on the rebound after we parted company, yet through all that time we remained dear friends. Her husband was a lazy opportunist, essentially a bum who never did a stitch of work in his life except swindle people out of their hard earned cash. Her husband essentially screwed her over and she got a really raw deal. The decree of her divorce stipulated equal division of assets and her share of the proceeds after lawyers expenses was a mere R187 844.00, though still a substantial amount of money yet certainly not enough to buy a decent car let alone a small house.    

However, she was money savvy. She sold  her Volkswagen Polo, bought a bike and moved in with her sister who lived in a flat. They shared all their household expenses so that she Saa-rah could start over.  After doing much research on Forex and doing an online course with one of the Forex traders, she invested a total of R200 000.00 in USD. In 2012  the USD/ZAR = 7.2510 and ever since behaved very poorly. The rand slipped several times over the past few years and was especially susceptible to  President Jacob Zuma's political  antics. The most recent one was when Jacob Zuma abruptly fired his finance minister Nhlanhla Nene and replaced him with David Van Rooyen, who was a relatively unknown lawmaker with little experience in government causing the rand to crashed through the R15/$ level. By replacing him with Pravin Gordhan the rand recovered slightly. 

However  two of the three major credit ratings agencies downgraded South Africa to just one notch above “junk” status, citing over-spending, declining business confidence, and weak economic growth as justification. In 2013 the South African rand was ranked as the 18th most-traded currency in the world. Surprisingly, today  South Africa accounts for only 0.3% of the world’s daily foreign exchange market turnover, and accounts for 1.1% of worlds daily currency trading. Be that as it may, just yesterday morning Saa-rah cashed in her chips at USD/ZAR = 14.23.  Believe it or not she sold her USD making R6.979 x 200 000 which amounts to a cool R1,395 800.00. Yes you read right, One cool million three hundred and ninety five thousand, eight hundred rands. Ostensibly she earned herself 6.9 years worth of income based on her current salary and she is contemplating to reinvest.  This is one of the good stories.

Steven Lang ex-principal of Lexington Collage also traded Forex but he wasn't that lucky or intuitive.  He traded EUR/USD over a short term and lost half of his retirement pension in the process. This is one of the sad stories. Forex is not a get rich quick scheme but a strategic money making endeavour. It is reliant on political scandals, turmoil in foreign markets, nuclear project, arms deals, etc. Staying abreast of the issues that affect the currency you trading can spell the difference between making a profit or loss.

A CRASH COURSE IN FOREX TRADING STRATEGIES

 In the forex market, you buy or sell currencies. Placing a trade in the foreign exchange market is simple. An exchange rate is simply the ratio of one currency compared against another currency. The object of forex trading is to exchange one currency for another with the expectation that the price will change, so that the currency you bought will increase in value compared to the one you sold. You would buy the pair if you believe the base currency will appreciate (gain value) relative to the quote currency. You would sell the pair if you think the base currency will depreciate (lose value) relative to the quote currency.

Example:

EUR USD - You purchase 5,000 euros at the EUR/USD exchange rate of 1.1800
Two weeks later, you exchange your 5,000 euros back into U.S. dollar at the exchange rate of 1.2500

EUR 5,000 x 1.18 = US $5,900  
EUR 5,000 x 1.25 = US $6,250
You earn a profit of $350

How to Read a Forex Quote

Currencies are always quoted in pairs, like GBP/USD or USD/JPY. The reason they are quoted in pairs is because in any foreign exchange transaction, you simultaneously buy  one currency and sell  another.  

GBP/USD = 1.4995  
The first listed currency to the left of the slash (“/”) is known as the base currency (in this example, the British pound), while the second one on the right is called the counter or quote currency (in this example, the U.S. dollar). When buying, the exchange rate tells you how much you have to pay for one unit of the quote currency in order to purchase one unit of the base currency. In the example above, you have to pay 1.4995 U.S. dollars to buy 1 British pound. When selling, the exchange rate tells you how many units of the quote currency you get for selling one unit of the base currency. In the example above, you will receive 1.4995 U.S. dollars when you sell 1 British pound.

The base currency is the “basis” for the buy or the sell. If you buy EUR/USD this simply means that you are buying the base currency and simultaneously selling the quote currency.  


Long/Short

First, you should determine whether you want to buy or sell.
If you want to buy (which actually means buy the base currency and sell the quote currency), you want the base currency to rise in value and then you would sell it back at a higher price. In trader’s talk, this is called “going long” or taking a “long position.” 
Just remember :- long = buy.

If you want to sell (which actually means sell the base currency and buy the quote currency), you want the base currency to fall in value and then you would buy it back at a lower price. This is called “going short” or taking a “short position”. 
Just remember :- short = sell.


What is a currency pair?
How to Make Money Trading Forex
Know When to Buy or Sell a Currency Pair
What is a Pip in Forex?
Forex Trading Tips
Impress Your Date with Forex Lingo
Types of Forex Orders
Forex Trade Your Way to Success
Forex Trading is NOT a Get-Rich-Quick Scheme
How to Make Money with Forex
What is a Lot in Forex?

trading for dummies, day trading for dummies, trader,  traders, fx trade, fx trading, learn forex trading,
learn to trade, exchange rate, exchange rates, forex exchange, forex exchange rate, forex rates, stocks for dummies, stock trading for beginners, forex trading for beginners, forex broker, forex brokers, commodities trading, commodity trading,

NB. Dont forget to follow of like or click on G+1 below

THE SECRET OF MAKING MONEY ONLINE

THE SECRET TO ONLINE MONEY  

Forex is a serious business and so is making money. Virtually everyone I know wants to make loads of money and I can help to achieve this. Like I said before in several of my previous blogs,  "Making money with Forex is Simple",  I also said " Making money with Forex is Easy" and that " Fx is the fastest way to make money with money". However, many people are sceptical about Forex and will not risk their hard earned cash for fear of losing it. I commend them for it, because Forex is not for the faint hearted.  But what is noteworthy, is that  Forex is a proven system for making money with money but it doesn't come without risks.

Be that as it may, I want to let you all into a little secret. In fact its a very well guarded secret on the internet. But if you listen closely or rather read with interest, be assured there is light at the end of the tunnel. Ok, the secret is "There is a way of making money without initially spending any money" but it's not going to be easy or quick. So,  I'm going to show you how, below. If you can be consistent and have sufficient time on your hands and have sufficient  Internet bandwidth, you can earn between $0.0010 to $2.00 or even  €0.0100 to €5.00 every few seconds by just clicking on other peoples adverts. Yes, it's that easy, you actually get paid real money to click on adverts. The faster you click, the more money you'll make. This may not sound like much money but each of these amazing  Money Making Sites will allow you to click on at least 10 adverts or more and compensate you for it. Before this can happen, you need to REGISTER with them first, so that they know who to pay.  Should you not have an online money market account, click on either  Paypal, Egopay, Payza, SolidTrustPay or Ezybonds and create an account. It's quite easy to setup and it only takes a few minutes. Once this is done, you can merrily go CLICK ON THESE REAL MONEY MAKING SITES BELOW.

PTC STAR,      FAMILY CLIX      EARN BIG BUX,  

MILLIONS OF BUX,      CASH 4UBUX,       BUX 4 CLICKS,

BEARLUX     QUICK CASH,     FREE MONEY

Before you leave, please Like me on Facebook or +G1  below  if you think this blog is cool.

Several of these advertisers and adverts  are Forex Traders, Bullion Traders, Cash Merchants, Investment Managers and so many, many others money market vendors. Here you will see videos of other real money making opportunities with testimonials of others who have made it big online. Initially you will only make a few measly cents but after about 20 days you will have made a few dollars but in a month or two you may have earned sufficient to purchase a share or two from your earnings. Thereafter you will start making money exponentially.  Your cents will multiply to dollars which will multiply to tens of dollars then hundreds of dollars per month.  

Within a year to two you could be making hundreds of dollars per day. Your earnings can be withdrawn at any time or rather transferred from your Paypal, Egopay, Payza, SolidTrustPay or Ezybonds account into your credit card account. Perhaps, after you made a few thousand dollars you may then have the confidence to trade in Forex and join the Forex billionaires Club.  Your could soon drive a Pearl LEXUS, or one of the fastest cars in the world and  live a  huge house like the house in the image above and invest in some diamonds like these below.

Before you leave, please Like me on Facebook or +G1  below  if you think this blog is cool.

NB! I'm currently busy with another money making opportunity site and just for logging-in you will be given R50.00, no questions asked, to spend at the site whenever and on whatever you please. But first you have Click HERE to check when its up and running.

Diamonds are a Girls best friend &
 Diamonds are Forever 

THE COST OF MAKING MONEY ONLINE

MAKING MONEY ONLINE

If you've read by other blog installment called THE SECRET OF MAKING MONEY ONLINE then you will be thrilled by yet another secret of making money online, viz. Blogging. Blogging is fun pastime and a fantastic idea, however, blogging for money is an even greater idea. Blogging essentially revolves around the possibility that 1000's of surfers will spend a few minutes reading your blog. By doing so, you earn a few cents per 1000 visitors (CPM) but you will only earn this  if you are signed-up to Google's Adsense Programe or  Yahoo's Bing Network Contextual Ads. An added benefit is the possibility that your site visitors  find your blog content interesting enough to click on one or more of the ads associated with your website. This may boost you earnings marginally, but very likely at the rate of  about 10 clicks for a single US Dollar.  Below are two more secrets of making money online viz e-Baying and Forexing.

BLOGGING

Blogging is cool, sexy, hip and the in-thing and a sure way of making money online. Attracting  network traffic to your site is an enormous SEO task which can become a bit of a nightmare because there are tens of thousands of new websites starting-out on the internet daily, all of which are vying for pole position in search engines. An alternative to designing and maintaining one website to attract a 1000 visitors, is to have 250 advert displaying websites and expect just four visitors per day and hope to get 1000 hits daily. Maintaining 250 websites is even a greater nightmare, in fact it's a full time job that will earn less than a dollar per day, averaging at  $3 US for about 3000 visits. Meanwhile the cost of making those  few measly dollars will cost you fist full of dollars, considering the cost of your Internet connection, the cost of your time, the cost of electricity, the cost of wear and tear on your computer. I could amount to more than a 100 times more than what you are earning online. However, if you persevere could can make good money, but not as much as you would make with trading in Forex.

E-BAYING

Buying and selling on e-Bay is another fantastic  idea. Been there, tried that and it didn't work that great for me. Not that it won't work for you.  I bought sought after goods, intending to sell them locally at a marginal profit. However, the marginal profit is directly affected by the auction price of your final bid. But it doesn't end there. Your supplier adds packaging and unrealistically inflates the postage. This is to make up his losses on all the other goods  that didn't fetch the price he expected. Normally, it just so happens that the exchange rate for the day is not in your favour when paying with Paypal or with your credit card. Anyway, then it takes a  month before your goods arrive or rather a notification from the postal service arrives notifying you  that a package  needs to be collected at Customs. Customs is a satellite branch of the Internal Revenue Services (IRS) that inspects all imported goods. They then add-on import duty, normally a percentage of the value of the item and then they add value added tax (VAT) to it. Not forgetting the bank charges for the transaction  on the credit card. Suddenly the marginal profit becomes minuscule and in most cases non-existent. Yep, it just takes the wind out of your sales. The cost of making $50 could actually cost you $75.00. E-baying is still a good idea but Forexing is a great idea.

FOREXING

Trading in Forex is probably the best way of making online money. and making money with Forex is Easy.  It beats blogging and e-baying hands down. You can quite easily and very quickly turn a small investment into a massive profit. In fact thousands of people have turned small investments into remarkable profit with Forex, because it is the quickest and the most secure way to earn additional income online. Trading Forex allows you become a part of the world's largest financial deals which moves in excess of $5 Trillion daily. Signup for and  account, and Forex expert traders will teach you all you need to know, absolutely free of charge. Before you venture your money make absolutely sure you understand how Forex works.  Do not trade, unless you understand the risks involved and always take into account your level of experience. Remember leveraged Forex  products incur a high level of risk and may not be suitable for all investors. Beware that uninformed trading may result in a substantial or complete loss of funds and you should therefore only speculate with money you can afford to lose. Never risk more than you are prepared to lose. However, this warning should not stop you from getting involved. Get a Forex education. Get a practice account. Trade with real money that's not yours until you get the hang of things. In a very short while you could be smiling all the way to the bank.

FOREX VS INTERNET SCAMS

In today’s world, every penny counts. Millions of people are looking for  ways to earn money online since the cost of living is killing them. The Internet is certainly one of the best ways to make money but it has also become a scam artist paradise. It has  become the favorite  platform for selling snake oil and almost everyone I know who tried to make money from the web,  received offers through solicited mail that sounds just  'too good to be true'.  The guru scam artist's pitch is often "How to make quick money online", or "Ways to earn money online" or "How to make money on internet." But... there is an old saying which goes something like this, "if it sounds too good to be true then it probably is".  

Most Internet scams are  flaunting promises of huge wealth and the bigger the money, the bigger  the scam. Just look at MLM with their over priced junk extorting money from you and me, to pay their down-lines who perpetuate the scam. Enter your name and WIN scams that rip you off.  And the Pyramid schemes. PDFs containing BS, selling for large sums of money. The Clickbank " basic qualifying payment criteria scam". Mail order goods costing many times more than the same product in shops. Asian junk that cost as little as $10 but with shipping charges of $50 or more or at five times the price of their products, and the list goes on. Everyone I know is suffering from Internet information overload and loosing money to scam gurus rather than making money online. Yep scams are dime a dozen.

Making money with Forex is quick, legitimate and legal.

Having said that, believe it or not, their are legitimate and legal ways to make money online. There are many ways how to make money but Forex is probably the easiest way to make money. Trading Forex online has become one of the easy ways to make money with money and it is also one of the  best ways to make easy money. But Forex is not for the faint hearted. If you don't want to forex, you can always blog with Adsense selling CPA and earn a minuscule income, in fact a lot less than what you pay for your daily Internet connection. You could also write articles for Hubpages.com,  451Press.com, About.com, DayTipper.com, Helium.com, Squidoo.com or Bukisa.com or so many others but if your writing is not up to their standards, it could take months before you will make $10. Meanwhile  your monthly Internet connection could cost you thrice as times as much. It just isn't financial viable and it is very time consuming.

Forex is the best way to make money online
Trading in Forex is quick and easy, it is not time consuming. It doesn't require you to have a degree in English literature, it doesn't require you to sit in front of a word processor for hours and neither leaves you with the hope that you going to make money. Forex on Metatrader 4 Robot trades whilst you sleep and can make a decent profit over time. With Forex you have to spend money to make money. Restated, you have to speculate to accumulate. You could start-off with as little as $25. There are a myriad of Forex ads abound on the Internet, possible even on this page. Go ahead and create an account but if you don't know anything about Forex or were to start, read my first blog. It covers the basics of Forex and  terms like FX,  Foreign exchange, Megadroid, exchange rate, Forex brokers, Forex Trader and Forex signals, etc...

VW Polo EPC light problem

Wedding food -Whole Roasted Sheep 

FOREX, EXCHANGE RATE CALCULATOR

FX - FOREX TRADING
Currency Converter or Exchange Rate Calculator 

A Forex exchange rate calculator or a foreign currency exchange rate converter, used for making money online, is by far the most important tools for determining the current exchange rate or the "today Forex rate", so that you don't lose money.  It is predominantly used to establish the value of the GBP/USD or the EUR/USD immediate / current exchange rate. Basically, how much money you may have to pay for money in your selected trading currency.  However,  if you don't have a currency exchange rate calculator, don't despair because its quite easy to exchange any foreign currency, or rather determine the foreign exchange rate or rate of exchange of your own money. Just use Google's search engine, its the key to  making money online.

MAKE MONEY ONLINE
I use Google to make money online. I've found that the easiest way to convert currencies, is directly in Google's search engine.  Alternatively, you could go to a bank, since every bank or foreign exchange currency bureau's have an in-store exchange rate calculator. Some even have a currency converter LED board against there walls showing your relevant  currency exchange rate. But that's going to take forever because remember, Time is Money. Google is quick and easy and gives you an immediate and fairly accurate idea of the day's exchange rate but it isn't up to the minute accurate. Its great for ball park figure exchange rate calculations. See below....

100 Euro to US Dollar Forex rate conversion.

R100 South African to Euro Forex rate conversion.

100 Czech Koruna to US Dollar Forex rate conversion.

Should you need an exchange rate to make money a critical money calculation, there are hundreds if not thousands of Forex trader websites like FXCM, ALPARI and OANDA who specialize in online rate tables and historical exchange rates who can give you a free up to the minute rate conversion.  Here is a list of the 10 most popular currency converter / exchange rate calculators that could help you in make money with forex. 

FOREX TRADER
www.gocurrency.com/
www.google.com/finance/converter
http://coinmill.com/
www.oanda.com/currency/converter/
www.rbcroyalbank.com/
http://www.likeforex.com/
peeplo.com/Exchange+Rate+Calculator
www.likeforex.com/
http://www.x-rates.com/calculator/?from=EUR&to=USD&amount=1
http://www.xe.com/currencyconverter/

By now you should have created a Forex account with a Forex trader or a Metatrader Robot and well on your way to getting a Forex education. Remember making money with forex or FX is quick money and one of the easiest ways to make extra money, or just making money online in general because you make money from home.

Stunning Brides and Wedding Photos

FOREIGN EXCHANGE, HOW TO MAKE QUICK MONEY

FX or Foreign Exchange or just Forex is probably the easiest way to make money online. Making money as an online trader isn't all that simply. As an online entrepreneur you could make money on ebay selling your unwanted goods or you could blog and join Hubpages or Helium or even Google Adsense. But let me assure you, you could become disillusioned very quickly because the dedication, the effort, the time and money expended doesn't justify the paltry return. The alternative is to invest some money into  the exchange market as in trading on the forex market. However, be forewarned that fx foreign exchange, requires a firm knowledge of international currency exchange, else you could lose money.

Currently, forex is the best way to make real money online, since it is linked to the foreign exchange rate. Having said that, almost every international traveler or international business today, must deal with a foreign exchange currency in order to pay for overseas purchases, hotel bills and credit card bills, etc... Normally the amount of  money you need to pay for a US Dollar, a Pound Sterling of a Euro is determined by the exchange rates of the currency exchange on that day. This implies that the losses you make on your currency exchange on that day, is the dividends of some online traders elsewhere in the world.

How to make quick money.
Trading forex in South Africa or rather trading forex in South Africa is a very lucrative business because the South African Rand (ZAR) used to be twice as strong as the US Dollar during the White Apartheid era. Restated, R1.00 was worth $2, but since the instatement of its first black President, the ZAR has constantly and continuously declines to the point that today we have to pay ZAR9.30 to get 1 measly US Dollar. Forex South Africa is plowing Trillions of rands into the trading platform annually which ends up as dividends for other  South Africa traders and forex trader abroad. Buying US Dollars as the Rand diminishes is the key to make quick money. This is just one isolated example of one 3rd world country.

Multiply this by every country in the world and pool all the money and you'll get  more than  $945 000 000 000 000 (945 Trillion USD). How would you like to make some of that? Like I said before, forex is probably the easiest way of making money online. The internet is inundated with Forex Ads, so signup with one of these traders and get yourself a $50,000  account absolutely FREE to try out your hand at Forex trading before you venture a single cent of your own.