Get the Best Tool for Forex Endeavors

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Are you someone who is well-acquainted when it comes to foreign exchange? Do you think that you already have the best tools at your disposal?

Are you a newbie who would like to learn the ropes of foreign exchange hoping that you can bear with it and maybe learn from it? Do you have your hopes up that earning in forex will be possible for you?

If you are any of those mentioned above, you have read the right article. This article will make you think about whether you are really utilizing all the things that are out there or if you have been left behind. First off, you have to know whether your technology is at par with international standards.

The top forex programs are being used by almost everyone nowadays, and so should you. There is no point competing with them when they have the best and you are still doing things manually. The top forex programs will instantly make the tasks easier because of its automatic updates and routine checkups. If you have this at your disposal, you can just sit back and relax while you are earning big money. Buying and selling will not be a problem because the program can give you an insight without doing anything until you approve it.

An optional action that you should do to ensure that your investments will earn is by hiring a virtual assistant that will update you about your stocks. The virtual assistant will be on the lookout while you are out doing more important things. You will get alerts on whether there have been changes in the market that are significant to you.  When you reply, the assistant will then carry out the decisions you have made. Everything is done systematically, so there is no need for you to be stressed out about foreign exchange anymore.

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Automated Forex for the Average Person

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Forex can be both easy and hard. It is hard if you do it the old-fashioned way and rely only on yourself. You are close-minded to the help that others are offering and you refuse to broaden your knowledge about the topic by reading books. You may also devote your time in transacting in forex but to no avail. Meanwhile, forex can be easy if you just take all the tips that are thrown to you and listen to what others have got to share. Even when their comments are negative, you can still learn from them and make sure that you do not commit the same mistakes that they had.

You will also find forex more interesting if you use automated forex software to aid you. The use of automated forex software is utilized by many whose schedules are busy, yet they do not want to give up foreign exchange. Thanks to the developer of the software that can be used by everyone, you can now have the best values of the stocks even when you are not monitoring the stocks all day. You can take your well-earned break or even go on vacation and you will still earn. All you have to do is enable the decision-making in the software and voila! You are good to go.

In case you are having problems understanding the software, reading its application information interface, or API, will help a lot. It is so much easier than reading a lot of reviews about forex itself. With the API, you just have to learn to customize the features of the software according to your own preferences and schedule. You and the software can coordinate in watching the market and earning more money. Now, how hard can that be? Surely it would not be that hard considering that you will earn from it, right?

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Knowing When to Close Your Forex Position

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Investing in Forex can be a bit of a minefield, particularly for the novice trader or investor. There is so much conflicting advice out there about what to trade, when to trade, how long you should hold your position, which technical signals you should look for on the charts, which news items are likely to affect currencies, etc, etc. It can all be quite mind-boggling if you are new to the whole thing.

It can also be pretty scary too. Dipping your toe into the water for the first time when making your first forex trade can be an exhilarating, but also gut-wrenching feeling as you watch the currency exchange rate move either in your favour or against you.

So once you have actually made that move and opened up a position, how do you know when to close it? This is one of the trickiest questions that novice investors face.

The temptation is to close the position as soon as it is showing a small profit so you at least have something tangible to show for your efforts. Equally tempting is to hold on to the position if the price moves against you, in the hope that it will turn around and move back in your favour.

Neither of these approaches is recommended. Any successful trader will tell you that what you should always do is cut your losses and let your profits run, not the other way around. The best way to do this in practice is to enter a stop order immediately after you have opened your position. A stop is an order to sell if the price moves below a certain level (if you are long), or to buy if the price moves above a certain level (if you are short).

By entering a stop order, you are limiting your losses if the price does move against you. If, on the other hand, the price moves in your favour, you can move your stop order in line with the price movement to follow the trend. That way you are letting your profits run until the market turns, at which point your stop will be triggered and you will collect your profits.

So the moral of the story is, if you use stop orders in the right way, you don’t actually need to know when it is time to close your forex position, because the stops will take care of that for you.

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Firms Rise to the Defence of High Frequency Trading

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As the debate about high frequency trading (HFT) continues to go on and on and as the detractors get more and more vocal, more firms are now coming out to defend the controversial practice.

Harvey Pitt has served as a Commissioner of th...
Harvey Pitt has served as a Commissioner of the U.S. Securities and Exchange Commission (SEC) (Photo credit: Wikipedia)

According to the High Frequency Trading Review (www.highfrequencytradingreview.com), in the last few days, a number of high frequency trading firms have pitched in to the debate, arguing that the benefits that HFT brings to the market far outweigh any negative impact.

Chicago-based Wolverine Trading for example, wrote an open letter to the SEC (Securities and Exchange Commission) in response to the regulator’s call for comments in advance of a planned review of the structure of the US equities markets. In the letter, Wolverine argued the high frequency trading had brought down trading costs for retail investors, as well as offering unprecedented access to information.

Wolverine are not the only firm to jump to the defence of high-frequency trading. Similar responses have been received from market-makers Getco and the Dutch firm IMC, amongst others.

IMC made the point that all market participants, including retail and individual investors, benefit from the increased competition high frequency trading has created amongst proprietary trading firms. Citing greater liquidity and market depth, lower short-term volatility and tighter bid/ask spreads, IMC argued in their submission that investors can now trade at more favorable prices that they have ever had access to in the past.

Lending greater weight to the arguments in favor of high frequency trading, it is not just the HFT firms who are rising to the defense of the practice. Submissions have also been received from alternative exchanges like BATS, who argue that bringing about regulation in an attempt to artificially level the playing field would actually do more harm than good.

The SEC are now evaluating all the responses they have received and will no doubt decide upon a suitable course of action to take.

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