Forex iPhone, Forex iPhone

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Forex iPhone

Best ForexApp iPhone and Mobile Traders


The Best iPhone and Mobile Phone App for Forex Traders




If you are a serious forex trader you will have soon realized that there are times in your busy life when you simply can't be in front of your computer. You can lug around a laptop when you are away from your trading desk but that can become tiresome. Luckily Forexyard have created an iPhone and mobile phone app just for Forex Traders!
They have made an app that is for your iPhone as well as an adaptation made for both BlackBerry as well as Nokia and Windows Mobile. Forexyard realized that in the world of traders today that they aren't always staying in their offices in order to make their trades and more and more traders are starting to be a lot more mobile and on the go than they use to be. So this is why they created their new forex trading app.
This is a great mobile trading app that is quite intuitive and is an easily accessible trading platform that will deliver some of the fastest and probably some of the most convenient trading service to all traders who download it onto their phones. The platform is offered in 16 different languages as well and it will tie right into your trading platform that you have on your home or office computer. There is no need to sync it either cutting down on all kinds of problems.
This app will let traders trade with their state of the art forex trading system with comfort, ease and speed of the traders smartphone. All live account holders can easily do all the things they would normally do when they are in front of their computer and it's all done through a very friendly interface and has all the backing of Forexyard's charts. Below are some of the things this app can do for someone who is a forex trader:
  • View their account information and see what their current status is while on the go.
  • Market Orders where they can buy and sell any kind of stock at any time of the day.
  • Entry Orders where they can place their orders directly over their phone.
  • Stop and Limit Orders lets them make sure to manage their risks as they go.
  • Change and Remove Orders if there is a need to modify their positions with an order they made.
  • Real Time quotes.
  • Full Functional Charts that can be used in helping to make trading decisions with trends.
  • Charting Indicator that will validate the different moves going on in the market.
Those who own an iPhone can easily download this particular app at the iTunes app store by searching for Forexyard's Trading App.

Article Source: http://EzineArticles.com/6322839
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Pyramid Positions in Forex


Pyramid Positions in Forex

Buying and selling the Forex market is one of the most exciting, fast paced trading decisions you will ever make. Currency prices are well known for swinging wildly in a particular direction by 100 to 200 pips, at a moment's notice, sometimes for no exact reason in particular.
So how do you capitalize on this type of market? How do you ensure that you are following the proper trading ideals - i.e. maximizing profits whilst minimizing losses? We have some solutions which might help to achieve just this.

Building on Winning Trades

There is literally nothing better than buying a particular currency, and then within minutes seeing the pair surge upwards on a wave of optimism. You know that you had the right idea at the right moment, and the decision you took to buy that currency was the right one.
This is where we should mention the "trend". It is a statistical fact that when a currency moves in one direction, it is more likely that at any given point, it will continue to move in that direction rather than reversing. This is why people who try to pick bottoms and tops often fail miserably in their trading.
So - if you are sitting on a winner, what is the logical thing to do? One of the ideas might be to add to your existing position, and hope that the currency continues on the positive course.
Here is an example of how such a trade might pan out:
  • You buy EUR/USD at 1.3200 and it rises to 1.3300 shortly after the trade.
  • Instead of closing the trade for a 100 pip profit, you buy another 2 lots of the currency.
  • Because of the trend, EUR/USD continues to rise to 1.3350.
  • You close your position at this point.
  • Your profit is the 150 pips on initial position + 50 pips on both secondary positions.
Here, you have clearly benefited from the prevailing trend in the market and have capitalized on a position where the intuitive feeling may have been to just take the profit at 100 pips.

Building on Losing Trades

It should be noted that building a pyramid strategy for losing trades is absolutely not the same as the above. Staggering your entries should only be used by people who are experts in the field - and for position traders who want to balance and average out their average cost at a "better" price.
Remember, whilst pyramid trading can be hugely beneficial to profits, it also magnifies any losses if the market was to reverse - so careful monitoring needs to be done at all times to ensure that the position is safe and guarded.

Pyramid Positions in Forex



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Trading Forex in a Tight Market


Trading Forex in a Tight Market

Unlike most other markets out there, Forex is a 24/5 operation - meaning that from Monday to Friday, you can trade at any time of the day or night. This is perfect if you are one of those people wanting complete flexibility as to the times you trade. However, it can also be a bit of a nightmare for those who are followers of the news.
Fundamental trading strategies (or news trading) is basically the basis on which people use the news to base their trading decisions. For example, any of the following events might trigger a trade if someone was carefully following the news:
  • Surprise interest rate increase or decrease.
  • Surprise economic data.
  • News that a currency is being artificially tampered with by authorities.
This is just a selection of the possible news stories which could turn a relaxed, off duty Forex trader in to a raging financial mogul in a matter of seconds.

Why the Forex Market Gets Tight

When we talk about a "tight Forex market" we are usually referring to a lack of trading on a particular currency pair, and therefore a very small amount of price movement over a given period.
For example, if we said that the USD/JPY was trading "tightly", it would imply that the daily range of the currency pair was extremely small - perhaps a matter of 30 to 50 pips.
There are other times when we would say that the market is tight also. In some cases, we might refer to the entire market as being "tight". This usually happens on a select few occasions at about the same time each year - with one of these periods of course being: summer.

Summer Trading is Tight Trading

Even though the Forex market is still open each week day during summer, because many finance companies and banks choose to send their employees on holiday during these times - the liquidity of the entire market is often low. In other words, it's not just one single currency pair which is affected, but all the currency pairs.
If you are trading during summer or if the American summer happens to be your winter - you need to adjust your trading strategy to incorporate this decrease in liquidity. Perhaps consider more position trades, rather than swing or scalp trades, to attempt to mitigate the additional risk of the low liquidity during the major holiday breaks.

Trading Forex in a Tight Market



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Forex Trading Styles - Position Trading,iphone forex,iphone forex app


Forex Trading Styles - Position Trading

In Forex, the term "position trading" is somewhat misleading. That's because both of the terms involved are the total opposite of each other. Traditionally, "position" investments are those which are held for the longer term. Traders wait for the market to move significantly before closing out their "position".
On the other hand, trading is often the quick movement of money. In Forex, a "trade" could be a buy and sell executed on the same currency pair within about 20 minutes of each other. In other words, "traders" are cyclically trading in and out of different currencies in order to scalp as many pips as they possibly can, as quickly as possible.
Benefits of Position Trading
Position trading often sets the trader up for significant profits, and a greater chance of realizing a winning trade. This is because short term market moves are completely disregarded, with the overall sentiment of the market in the long run being the only focus.
To illustrate this, let's give an example of a position trading strategy:
  • Trader believes that EUR/USD will appreciate in the long run.
  • Based on a weekly chart, the trader goes LONG the EUR/USD.
  • Within 2 months, the pair has reached the target (after many other short term moves).
  • The trade is closed based on a signal from the weekly chart.

The concept is simple. Many people will have heard of "buy and hold" strategies. Position trading is essentially the same, except for the fact that you can "sell and hold" also.
Effects of Overnight Interest
One of the concerns for position traders is whether they are on the positive or negative side of the trade. Overnight interest is the cost of holding an open Forex position after the close of trade - i.e. the financing cost of that position.
Therefore, before entering a position trade, it is important that you calculate the costs of carry (overnight interest) - to ensure that this won't eat in to your long term profits. The last thing you want it to have a profitable trade which is completely disintegrated by the overnight financing costs after 2 months of holding the trade open.
Most brokers are open and transparent in this respect, so check with them to see whether you will be receiving or paying interest on open positions in your chosen currency pair. 

Forex Trading Styles - Position Trading



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