Forex Currency Nicknames - Want to Know What a Loonie and a Ninja Is?

By Jon McFarlane

In the world of Forex and Currency trading there are many terms and buzz words associated with the industry. This is so prolific that even many of the Currency pairs themselves actually have nicknames.

Some traders (and non-traders) know some of the most popular nicknames as they are quite obvious however many of them are more obscure. Some of the most popular ones, including our favorite, are listed below:

• AUDUSD - Not only the people from Australia are called Aussies the Currency (and specifically the US Dollar vs the Australian Dollar Currency pair) also carries the same jovial name

• EURGBP - The Chunnel (the Channel tunnel) transport link between the UK and France (Europe) is affectionately used for the Euro/Sterling (EURGBP) Currency pair

• EURJPY - Nothing obvious here for the Euro Yen Currency pair other than Euppy sounds like it looks

• EURUSD - Two reasons on offer here, EURUSD (the Euro US Dollar Currency pair) is known as Fiber for the same reason as GBPUSD is known as Cable but more popular (and the one we prefer) is the fact that the currency is not actually made from paper but fromfibre

• GBPUSD - Probably the most common and well know of all the Currency Nicknames isCable, so named because of the cable running under the Atlantic which is used for speedy communication between the UK (GBP/Sterling) and the US (USD/US Dollar)

• GBPJPY - The Sterling Yen Currency pair is simply known as the Gopher

• NZDUSD - The national bird of New Zealand the Kiwi is the name the currency has also adopted

• USDCAD - The "Loon" is actually a bird which is printed on the Canadian 1 Dollar coin and for this reason the currency is nicknamed the Loonie

• USDCHF - Nothing fancy or imaginative here, as the Swiss Franc is referred to as theSwissy

• USDJPY - Our personal favorite, the Ninja is used for the USDJPY (US Dollar Japanese Yen) Currency pair

The above list is of course not the complete list as it does not include every single Currency pair there is. To seek out and identify all of them would probably take us forever. However, we do believe we have covered the most popular and common ones.

So, now the next time you are discussing Forex or Currency trading and someone mentions the "Loonie" although they may be referring to you - It may not be the case at all.

Jon McFarlane is the founder of Forex Useful, a website which boasts the title "Honest Forex Trading courses and resources for all traders". The site provides free Forex Trading strategies, eBooks, MT4 indicators and articles as well as the Your Useful Forex Weekly Newsletter -http://www.forexuseful.com

Forex Training Courses - The Best Forex Training Course

By Kerry Bailey

Many people are tired of their not-so-paying boring jobs, and there's a pretty high chance you are one of them. Are you looking for an additional income that will only take a fraction of an hour a day to make? The business of foreign exchange (trading currencies) is one of the hottest fastest growing markets. Banks, financial institutions and extremely wealthy people used to be the only ones involved in Forex. But now, with the easy fast internet access, everyone can indulge in the world of Forex, to generate money out of money.

Forex is a tricky serious business. 95% of Forex beginners lose their capital within 90 days. This is mainly because of their wrong presumptions. They either think that Forex is too easy or they assume it's a quick path to a pot of gold. In both cases, they end up over-trading, making hasty not-well-thought investments and losing their money before they know it. Thus, before one enters the world of Forex, he should have the right attitude and mentality to be successful. It is essential that one undergoes enough reliable Forex training to prepare himself.

Forex training is done online. One can enroll in either online courses or individual online courses. In the latter, there is one-on-one contact with the mentor. More attention is given to the learner as he dives deeper into the material given to strengthen his knowledge about Forex. Such courses tend to be more expensive but also more rewarding and specific. The Regular online courses are also not so bad.

One has to be careful before choosing the course, in spite of its category. There are tons of Forex online courses but not all have a good reputation. To identify the best, one has to be involved in financial forums to get direct advice and testimonials from experienced people. Good online courses are also supposed to be certified by a regulatory body or financial institution. The regulatory bodies involved with certifying courses and Forex business vary from one country to another. One should stay away from courses that promise far-fetched results. Phrases like ''guaranteed profits'', ''instant wealth'', and ''impossible losing'' are proof that the course is a scam. Scams are on the rise, so in order to immune oneself against them, one has to read the terms and conditions really carefully. He also has to check for unreasonable promises and unverified certifications.

Forex training is feasible for anyone no matter how little their initial knowledge of Forex is. Most online courses teach Forex comprehensively from scratch. They teach the simple rules of trading safely and successfully. They also help with setting up the computer for Forex trading and managing the Forex account correctly. The student will also learn how to manage money properly to get maximum profit.

Forex has worked for many people and it can work for you. All it takes is some discipline and patience.

Forex Trading - How to Be a Successful Forex Trader

By Kerry Bailey

There are many different markets that can be traded in to make a profit. The largest of any of them is clearly the foreign currency exchange, also called FOREX. This market trades more than three trillion dollars each day and currency traders can learn how to pull in a share of it. Trading takes place constantly, except for a few hours on the weekend, when all markets are closed.

Many people try the Forex trading, but not everyone becomes a Forex trading Mogul earning massive profits. Some people fail to get the information and education they need to succeed, or they don't get the right Forex systems in place to help them.

Here are the things that separates the best Forex traders from those who give up on a loss.

The Right Attitude

It takes experience to become a truly exceptional Forex trader. This is something you can only get if you approach Forex with the right attitude from the very beginning. You need to be dedicated. At first, in learning the way Forex operates and, subsequently, how you go about making successful trades. If you want to be able to make the most profitable trades you'll need to be patient and follow a disciplined approach. Too many people make rash Forex trading decisions, especially if they think they're on a roll.

Make it a habit to study the financial news so you know what is happening in the currency markets globally. Staying informed can give you an edge, but many beginners neglect this aspect of currency trading.

The right software

While there are some Forex robots that are inefficient and don't keep up to date with the developing market, the most Forex software will work as long as the trader controls the software appropriately, setting the controls to match the market.

Forex Derivative is as self-adapting automated Forex trading software that utilizes advanced mathematical algorithms, string profit protection features and money management strategies. It does not require constant monitoring and can be used on a demo or real account. It is suitable for both novice and expert traders.

By using the Forex Derivative software, one can take away the emotional aspect that often affects trading decisions.

Choosing a legitimate Forex Broker

One of the most critical decisions you will make as a beginning Forex trader will be choosing your Forex broker. The Forex market is a highly volatile market host to many subtle complexities, and a beginning trader may become so overwhelmed that they neglect to research one of the most important aspects of their trading. With hundreds of Forex brokers in existence, it can be difficult to find the legitimate Forex broker. To begin comparing Forex brokers, find out how long they have been in business and how responsive their customer service is.

Many of the wealthiest people in the world made their fortunes by accurately predicting the movement of worldwide Forex markets. Whether the stock market is in a bull market cycle or a bear market cycle, there is always a raging bull market somewhere in the world of Forex trading. Finding those great opportunities is what Forex trading is all about, and with the right tool you can add your own fortune to the big names in currency trading and prediction.

For more information on Forex trading strategies please visit http://www.liveforextradingroom.co.uk

Forex Trading Is Not for Everyone

By Oscar A Short

The situation may turn against you. It is important that the trader must understand the tools of careful trading. You can minimize the risks; however, it is not possible to totally eliminate them. You need to be very careful while choosing this moneymaking option.

Ability to take financial risks:

As a trader you have to deposit a security amount with the Forex dealer to buy or sell an off-exchange forex contract. You can put in a small amount; however still hold a forex position many times bigger than the security deposit. This is known as leverage or gearing. The leverage is greater than the small deposit related to the underlying value of the contract. In non-preferable conditions, high leverage causes big losses in comparison to your first deposit. In this way, even a small move against your position may lead to loss of the whole investment. You may be required to pay extra-losses if it is mentioned in the contract with your dealer. People who cannot take such big risks must stay out of this business. Prepare a solid backup plan, as you never know where this business might lead you.

Finding a reliable broker:

It is common that traders fall victim to frauds or Forex scams. You must verify the credentials of forex broker before investing money. In the US, brokers are required to be registered with the official government agencies such as Commodities Futures Trading Commission or should be a member of the National Futures Association. Check out the details of the broker available with local Consumer Protection Bureau and the Better Business Bureau, before choosing its services. Although you may opt for forex copiers such as MT4 trade copier, you would still need a broker who can work for you. If you cannot find a reliable broker, your risk of losing money will be high.

Capability to analyze the market and its unpredictable mood:

Forex trading is unpredictable. No one can guarantee the stability in exchange rates. Your trading moves are influenced by the price of your Forex contract and this also affects your future profit and losses. As a forex trader, you will decide the execution price. This means you have to be very much proficient in analyzing the moves of the market and making profitable decisions. If you cannot devote sufficient time for studying this market place, forex trading is certainly not for you.

Dealing with emotional trading risks:

Emotional trading is one of the biggest culprits that have led many people towards bankruptcy. If you are someone who gets emotionally involved in forex trading without thinking logically, stay away from forex business. A good trader must be someone who acts logically and all his/her trading decisions are based on solid market facts. If you feel you cannot come up with the right decisions, seek help of an expert. Buy a forex copier and get his/her trading signals but do not jump into this business right away without being prepared. This place is riskier than you ever thought.

If you don't have the above mentioned qualities, forex trading business should not be your choice.

The author of this article is the owner of ea-coder. We are the leaders in Forex Software programming and development; constantly keeping up with an ever changing market and technological advances in the Forex industry

Forex Software Is Getting More and More Popular Among Traders

By Oscar A Short

What is Forex Account Copier?

A Forex Account copier is used to copy the signals from a master account to single or multiple slave accounts. The master account is usually of a successful trader, who is an expert in this industry and makes a lot of profit by trading currencies. Some successful traders sell their strategies to other traders, mostly amateurs, at a certain price or for a percentage of the profit they will make by using the strategy of the professionals. The slave accounts are of the traders who have opted to copy the signals from the master accounts.

Although forex copiers are provided by many companies, the most widely used copier is MT4 trade copier.

Why we need to copy trade signals in the Forex trading?

Forex trading is a risky business and if you are not an expert in this, you may lose everything. Analyzing the market movement is not an easy task. Even if you spend hours studying the details, the chances of loss are still high. Amateurs and busy professionals therefore, need help to identify the profitable trades. Out of all, forex copiers are often loved by people, as these software allow them to copy the trades of experts. By watching their trading moves, you can have a fair idea of what can give you positive results. If you choose a good source, you will certainly have a good fortune in forex trading.

Innovative software such as MT4 trade copier, can work for you 24x7 without your supervision, so you can conveniently do other activities. If you cannot dedicate a good amount of time to forex trading but still want to gain monetary benefits from it, forex copiers are the best solutions. Anyone can buy and operate these software, as they are quite affordable and simple.

How does a forex copier operate?

Its operation involves a main terminal and many other dependent terminals. It runs an expert advisor on the main terminal or master terminal, from where the trade signals are copied on the dependent or slave terminals, which process those signals and makes the same trades for those accounts upon your approval. The copier copies the trading signals automatically and you are just required to analyze them and then approve the deal if you feel you must go ahead with it.

Why are Forex software getting popular?

Ever since the inception of Forex trading business, people have always been on a lookout for ways that can help them minimize their risks and maximize their profits. A forex copier is one of the most cutting-edge technologies that have changed the way amateurs and busy professionals have invested their hard-earned money in forex business. This is the reason behind the soaring popularity of MT4 trade copiers and other similar software.

Forex trading software has become indispensable for anyone who is into this business. Experts opine that they are the future of forex trading and anyone using them will certainly reap good profits, provided you choose a reliable source.

The author of this article is the owner of ea-coder. We are the leaders in Forex Software programming and development; constantly keeping up with an ever changing market and technological advances in the Forex industry.