Financial Blog

by Tradingrichmom

Question by maxatkur83: Did you apply trade signals for trading on Forex?
Was it profitable?

Best answer:

Answer by Guided
Yes! Definitely!

If you go to any FOREX site, you would be able to see that most of these sites do offer FREE Technical Analysis Report, Daily Outlook or Trading Strategies. Use them! It works. You just need to ensure you follow this three conditions:

1-Open three different sites and look at the report. If 2 out of 3 or all 3 says Buy or Sell and having the same Enter and Exit targets, use it!

2-Wait for the price to reach or touch the Entry price mentioned in the report for that particular pair!

3-Ensure that the time the report was issued is synchronized with your local time!

You do need some basic understanding of some indicators though. If you can, trade with this FREE signals and why not open another account and trade without these signals! Diversify. You may also opt for automated software. However, this is not for newbies!

Happy posting and making money with the FREE signals! Yes!

Haneef Yusoff
www.forexreviewportal.com

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Question by BOB N: Deduct losses in FOREX?
I have a Forex Account with GFT. I have losses for the 2008 tax year. Are these deductible for ordinary income? And where and how would I deduct these losses?

Best answer:

Answer by hrblockerrolquinn
Dear Bob: FOREX trading is very similar to stock trading in the eyes of the IRS. Unless you are a certified day trader you will report your transactions on Sch. D, and be limited to a capital loss of $ 3000 with the ability of carrying forward any unused losses.
This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provide. Click on my profile to read more.
Errol Quinn Enrolled Agent Master Tax Advisor

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Question by : What is best book and best course to learn FOREX trading?
There are many courses with many claims, how does one pick the ne best for me?

Best answer:

Answer by JonLuc
The best book/system in my opinion is “High Probability Trading Strategies: Entry to Exit Tactics for the Forex, Futures, and Stock Markets” by Robert C. Miner

He details not only the rationale behind his system, but also outlines very practical steps to do so. For those who wish, he also has software that you could buy if you wish.

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Question by toko ~: what is the best way to trade Gold on forex if i live in australia?

Best answer:

Answer by dretg p
Obviously, buy cheap and sell for more! The profit potential comes from the fluctuations (changes) in the currency exchange market.
The nice thing about the FOREX market, is that regular daily fluctuations, say – around 1%, are multiplied by 100!

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by YoTuT

Question by realhatim: How can I get a “forex charts software” that includes “Volume indicator”?
I prefer free or free tial software.

Best answer:

Answer by flying_eagle
As far as I know there is no indicator on the volume of forex charts.

That is why banks and larger institutions have the upper hand on retail investors as they can see and hear about the large orders coming in whereas the retail investor is left out in the cold.

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