Why forex market?
The Foreign Exchange market is known as the Forex or FX market. It is an international foreign exchange market, where money is sold and bought freely and has become the world's largest financial market, with over $1.5 trillion USD traded daily. Forex is part of the bank-to-bank currency market known as the 24-hour Interbank market. Transactions are conducted all over the world via telecommunications 24 hours a day from 00:00 GMT on Monday to 10:00 pm GMT on Friday. Therefore, it gives the investor the prerogative to open or close a position at will.
What are the advantages of Forex?
- Forex is open 24 hours a day.
- Forex is the most liquid market in world.
- A 100-to-1 leverage reduces the need for large amounts of capital.
- MoneyForex does not charge any commission in executing a forex trading order.
- No restrictions on shorting which allows you to enjoy profit opportunities during any market condition.
- No Pattern Day Trading rule.
- You can day trade with very low account balances.
- You can open a little account.
What Does It Mean Have A 'Long' Or 'Short' Position?
A long position is one in which a forex trader buys a currency at one price and aims to sell it later at a higher price; the investor is benefiting from a rising market. A short position is an investment position that benefits from a decline in market price. The risk of having either long or short position will be the same.
How Do I Manage Risk?
The most common risk management tools in forex online trading are the limit order and the stop loss order. A limit order places restriction on the maximum price to be paid or the minimum price to be received. A stop loss order ensures a particular position is automatically liquidated at a predetermined price in order to limit potential losses should the market move against an investor's position. The liquidity of the Forex market ensures that limit order and stop loss orders can be easily executed.
How long do you hold the positions?
The positions are held a maximum of 1 day closing the positions at 16:59 EST of the following day.
How many open positions do you hold at the same time?
The system has a maximum of one open position per pair; you can open a long or short position in each pair.
How are the trades generated?
We based our system in technical analysis and news with consolidating market or trending market, using both sides of the market.
What Is A Stop Loss Order?
A stop loss order is an order type whereby an open online forex trading position is automatically liquidated at a specific price. For example, if an investor is long EUR/USD at 1.2560, they might wish to put in a stop loss order for 1.2500 to limit the loss. Often used to minimize exposure to losses if the market moves against an investor's position
What is a pip?
The smallest unit of price for any foreign currency. Digits added to or subtracted from the fourth decimal place,( 0.0001) in Eur/Usd and GBP/USD. Also called Points. For example: If the Eur/Usd move from 1.1820 to 1.1821 it is one pip.
Is the spread included in the trades?
Yes, the spread is included in the trades.
You will always buy at ask and sell at bid according to your spread.
There are many brokers and platforms with different spreads.
The best brokers spreads are :
Eur/Usd 1 pip
GBP/JPY 5 pips
GBP/USD 3 pips
USD/JPY 1 pip
You must obtain our same results.
What kind of Stop Losses use DailyForexTrade.com?
We use a maximal Stop Losses of 60 pips in the Gbp/Usd, Usd/Jpy and Eur/Usd and 150 pips in the Gbp/Jpy.
How will I be alerted?
Subscribers of DailyForexTrade.com are alerted in member's page and by email. There are no additional charges for any of these added features. We send daily signals at 17:00 EST.
Do you offer free trial?
Our service does not offer free trial. We offer a very reliable Trading System.
How long does it take to have access to the signals?
You may have instant access to the signals. After the credit card purchase is approved (takes a few seconds) you are forwarded to a screen to select your username and password.
How do I renew the membership?
All orders are made in a recurring basis, in order to cancel your membership you may send us an email.
The order will be cancelled immediately.
Do you offer auto trading?
Autotrading is not currently a service option.
I still have more questions. How do I contact you?
E-mail: info@DailyForexTrade.com
Copyright © 2007, 2008 DailyForexTrade.com All rights reserved. Data and information is provided for informational purposes only. Neither DailyForexTrade.com nor any of its data or content providers shall be liable for any errors or for any actions taken in reliance thereon. Forex trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the forex markets. Don't trade with money you can't afford to lose. DailyForexTrade.com is not a registered broker-dealer and does not endorse or recommend the services of any brokerage company. The brokerage company you select is solely responsible for its services to you, the user. DailyForexTrade.com shall not be liable for any damages or costs of any type arising out of or in any way connected with your use of the services of the brokerage company. All published results are hypothetical gross results without adjustment for trading cost. (commissions, fees & slippage).