Online Trading - Stock and Option » Online Foreign Exchange http://onlinetradingstockandoption.net All the info about online trading for stocks and options Tue, 02 Mar 2010 03:19:33 +0000 http://wordpress.org/?v=2.8.4 en hourly 1 Murphy’s Law And Forex Trading: Preparing For The Worst http://onlinetradingstockandoption.net/murphys-law-and-forex-trading-preparing-for-the-worst-2 http://onlinetradingstockandoption.net/murphys-law-and-forex-trading-preparing-for-the-worst-2#comments Mon, 21 Dec 2009 06:14:04 +0000 admin http://onlinetradingstockandoption.net/murphys-law-and-forex-trading-preparing-for-the-worst-2 It is a typical Monday morning and you are up early to trade your favorite currency pair as the financial markets open in New York. But a few hours into your trading you notice that the price data on your trading platform seems to be delayed, and you realize that you cannot close any of your open positions or even see where the current market value is. You look over at your internet router and you see that the indicator light for a live internet connection is off, and it will not come back on.

There have been hundreds of these types of horror stories where someone who needs an active internet connection to monitor their open forex trades suffers from either a power outage or a disconnected communications signal that will not come back on, and suddenly they enter into a near panic because they cannot touch any of their open trades or see what the market is doing. This can be especially stressful if you do not normally trade with reasonable risk management and do not enter in a stop-loss level when you trade.

The best thing that you can do to make sure that this does not happen to you is to establish a good verbal relationship with your forex broker when you open your account. Usually when you open a new account you will get a call from someone at that company that will address any questions or concerns you might have, and it is good to try to form a personal relationship with someone at that company so that if the worst happens you have a number to dial and a name of someone who can help you.

Placing trades over the phone is not something that is very common today since it is much more efficient to use an online trading platform (and with some brokers you can even use a mobile version of their trading software), but it is always good to be able to verbally articulate an exchange rate quote in the event that you must trade over the phone. If you become confused when your broker starts reading off numbers to you about where your open trades have moved to in the market, you might end up unnecessarily losing money by prematurely exiting a position that could have been profitable if it remained open.

On a practical note, if you are trading at home then it is good to purchase a surge protector for your computer that also has a battery backup in case of a power outage. These can usually be had for under $100 at most electronics stores and can be very useful in the event of a power outage. It is also important to have a landline telephone with a cord that can still function if the electricty goes out, and to keep the phone number of your broker handy so that you know who to call.

]]> http://onlinetradingstockandoption.net/murphys-law-and-forex-trading-preparing-for-the-worst-2/feed 0 Murphy’s Law And Forex Trading: Preparing For The Worst http://onlinetradingstockandoption.net/murphys-law-and-forex-trading-preparing-for-the-worst http://onlinetradingstockandoption.net/murphys-law-and-forex-trading-preparing-for-the-worst#comments Sun, 20 Dec 2009 18:18:01 +0000 admin http://onlinetradingstockandoption.net/murphys-law-and-forex-trading-preparing-for-the-worst It is a typical Monday morning and you are up early to trade your favorite currency pair as the financial markets open in New York. But a few hours into your trading you notice that the price data on your trading platform seems to be delayed, and you realize that you cannot close any of your open positions or even see where the current market value is. You look over at your internet router and you see that the indicator light for a live internet connection is off, and it will not come back on.

There have been hundreds of these types of horror stories where someone who needs an active internet connection to monitor their open forex trades suffers from either a power outage or a disconnected communications signal that will not come back on, and suddenly they enter into a near panic because they cannot touch any of their open trades or see what the market is doing. This can be especially stressful if you do not normally trade with reasonable risk management and do not enter in a stop-loss level when you trade.

The best thing that you can do to make sure that this does not happen to you is to establish a good verbal relationship with your forex broker when you open your account. Usually when you open a new account you will get a call from someone at that company that will address any questions or concerns you might have, and it is good to try to form a personal relationship with someone at that company so that if the worst happens you have a number to dial and a name of someone who can help you.

Placing trades over the phone is not something that is very common today since it is much more efficient to use an online trading platform (and with some brokers you can even use a mobile version of their trading software), but it is always good to be able to verbally articulate an exchange rate quote in the event that you must trade over the phone. If you become confused when your broker starts reading off numbers to you about where your open trades have moved to in the market, you might end up unnecessarily losing money by prematurely exiting a position that could have been profitable if it remained open.

On a practical note, if you are trading at home then it is good to purchase a surge protector for your computer that also has a battery backup in case of a power outage. These can usually be had for under $100 at most electronics stores and can be very useful in the event of a power outage. It is also important to have a landline telephone with a cord that can still function if the electricty goes out, and to keep the phone number of your broker handy so that you know who to call.

]]> http://onlinetradingstockandoption.net/murphys-law-and-forex-trading-preparing-for-the-worst/feed 0 Getting Your Forex Online Trading Accounts http://onlinetradingstockandoption.net/getting-your-forex-online-trading-accounts http://onlinetradingstockandoption.net/getting-your-forex-online-trading-accounts#comments Mon, 26 Oct 2009 12:06:29 +0000 admin http://onlinetradingstockandoption.net/getting-your-forex-online-trading-accounts Foreign exchange trading platforms enable transacting parties to trade in real time via an internet connection. The online foreign exchange market is open 24/7, from almost virtually any part of the world. This easy online access enables users to follow and stay updated on the exchange rates that are constantly changing. In fact, this volatile market has currency prices fluctuating by the second!
The currency trading platform operates within price quotes that are not only accurate the moment they are displayed, but also (typically) within the next 10 seconds or less. As currency traders, any small change in price movement can dramatically alter our profit and loss potential, so it’s highly advisable to pay attention to the accurate display of price fluctuations in real time.
The currency exchange market engages the use of dedicated ‘user locks’ on every accessed and closed rate which enables the person transacting to access the same rate at a later stage. The trading platform executes the transactions that are immediately processed. It also enables the user to benefit from up-to-date exchange rates that are known to change very rapidly throughout the day, with the ups and downs literally playing hide and seek with you. The platform also displays the most up-to-date rates for the user calculations of profit and loss potential.
Each Forex trading account is backed by some software which communicate with remote servers by sending in the most current exchange rates. The exchange rates displayed in the Forex trading platform are easily readable and instantly tradable.
While using a dedicated currency exchange platform, the user can choose to lock and trade at a rate displayed at that time of the day. This current ‘freeze rate’ stays valid for as long as it is displayed and the next rate pops up within a few seconds.
Each trading account will also typically include special online accounting software to enable the user to access an account statement whenever he or she needs to analyze the market situation when planning for a trade. When in an open trade position this accounting software will automatically update the account statement based on the fluctuating currency prices.
The trading account works great from the user’s perspective. The account balance calculations are transparent and can provide the latest price quotes at an easy click of the mouse. And all this without even having to refresh the page!
The updated data is always provided within the account status screens. The trading platform created for the currency exchange market enables the immediate ‘Buy’ or ‘Sell’ order as soon as a transaction is executed. The data relevant to any particular transaction is processed with a high level of security and is sent to a defined data server which stores the recorded data and generates a backup in a separate server farm.
This process is designed to ensure the integrity of the data integrity with no possibility of erroneous human intervention. The software thus guarantees the accuracy of all transactions. When trading Forex, always sign up with a reputable financial institution or server. This is to ensure that you would not have to worry about security issues at all.

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