Online Forex Trading System

Many of you have probably noticed that I havn't updated this website for some time now with the latest courses and systems available online. The reason for this is because I am now working on producing a "definative guide" on Trading Systems and methodologies available to trade. After all I have learnt a lot from the courses, systems, and books I have been reading, as well as from operating this website.

If you would like to really stay up to date with my own findings and developments please consider joining my mailing list. I have decided that this is the easiest way to keep you updated. (signup form below)

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I am not sure when I will have completed the "definative guide" I mentioned above, however I will keep you updated on how I am going.

The aim in creating this website is to save you time, money, and effort, in your search for the best forex trading system reviews information, and education available online. Whether you’re interested in learning an already developed trading system, or want to learn how to develop your own system, you should find something of interest here.



It is important that you understand that although a forex trading system may be the most interesting aspect of trading, it is not the only aspect you need to take into account. In fact World-Renowned Trading Coach Dr Van Tharp in an interview said: “I've conducted a study in which you can use a coin flip for entry and still make money if you use the other components effectively.” These “other components” include money management, (which is further discussed on the Developing a Forex Trading System page), as well as trading psychology. Dr. Tharp also offers unique trading courses that cover these often overlooked factors.


The degree to which you understand and properly make use of these factors altogether will determine if you will be one of the elite few (less than 10% of traders) that actually succeed, and make money.


There are also other various educational topics related to forex trading, which can be seen on the navigation bar on the left hand side of your screen, such as, information on some of the most popular forms of technical analysis used in trading the forex market, as well as guidelines on how to choose a reputable forex broker which you will need after you have fully developed or have learnt a forex currency trading system, and know exactly how you will go about trading it.


There is also information on some of the more popular forex trading signal providers available online, should you wish not to spend the time analyzing charts yourself, as well as information on forex trading courses if you’re fairly new to the forex market

Forex Books

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Forex Books

Mon, Nov 19 2007, 11:15 GMT
by FXstreet.com Team

FXstreet.com

Index of contents

* Forex Basics
* Technical Analysis
* Forex Strategies
* Market Psychology
* Education
* Related Topics


FEATURED BOOK

The Ages of Gold

The Ages of Gold book coverTitle: The Ages of Gold
Author: Timothy Green
Synopsis: After tracking modern markets in The World of Gold and The Gold Companion, Timothy Green now reports on gold as money and a symbol of power and wealth over the last 6,000 years. Gold's beauty and unique properties of conductivity, ductility, malleability and resistance to corrosion have meant that each age valued it differently. The book embraces four major periods.[...]




Forex Basics

The Currency Trader's Handbook

The Currency Trader's Handbook book coverTitle: The Currency Trader's Handbook: Strategies for Forex success
Author: Rob Booker
Synopsis: The Currency Trader's Handbook is the first published form of Rob Booker's ebooks on currency trading. Included are money management strategies, trading systems, and other [...]

Hit the Spot

Hit the Spot book coverTitle: Hit the Spot: How to Tame the Currency Market
Author: Reggie Henkart
Synopsis: It provides new and seasoned traders with a revolutionary, new strategy that is changing the Forex industry in over 80 countries.[...]

Millionaire Traders

Millionaire Traders book coverTitle: Millionaire Traders: The Book
Authors: Kathy Lien & Boris Schlossberg
Synopsis: Everyday, millions of people turn on their computers and try to earn a living in the financial markets. Some are successful, most fail, but the possibility of hitting it big never deters them from trying.[...]

Adventures of a Currency Trader

Adventures of a Currency Trader book coverTitle: Adventures of a Currency Trader: A Fable about Trading, Courage, and Doing the Right Thing
Author: Rob Booker
Synopsis: Unlike most of the trading books that I have read, Adventures of a Currency Trader, by Rob Booker, is a work of fiction. However, this doesn't mean that its trading lessons are any less worthwhile. [...]

The Essentials of Trading
The Essentials of Trading book cover

Title: The Essentials of Trading, from the basics to building a winning strategy.
Author: John Forman, Managing Analyst & Chief Trader for Anduril Analytics
Synopsis: The financial markets can be a daunting place for someone just getting started. There are so many things you [...]

Trading in the Global Currency Markets

Trading in the Global Currency Markets book coverTitle: Trading in the Global Currency Markets
Author: Cornelius Luca
Synopsis: The oldest of the financial markets, foreign exchange is also the newest in the contemporary times. The inherent profitability, the limited credit risk [...]

2006 Foreign Exchange & Treasury Management Handbook

2006 Foreign Exchange & Treasury Management Handbook book coverTitle: 2006 Foreign Exchange & Treasury Management Handbook
Author: Euromoney Yearbooks
Synopsis: Currency has become a highly fashionable topic due to the aggressive weakening of the US dollar in recent years. As the products available from service providers have become varied [...]

Forex Revolution

Forex Revolution book coverTitle: Forex Revolution
Author: Peter Rosenstreich, principle and foreign exchange trader for Rose Stevons & Company
Synopsis: Every day, more than $1.5 trillion in currency trades are executed. That dwarfs the daily volume of the NYSE, NASDAQ [...]

Day Trading the Currency Market

Day Trading the Currency Market book coverTitle: Day Trading the Currency Market
Author: Kathy Lien, Chief Strategist, FXCM
Synopsis: The currency/foreign exchange (FX) market is by far the largest financial market in the world, with trading volumes surpassing $1.9 trillion a day [...]

The Complete Idiot's Guide to Foreign Currency Trading

The Complete Idiot's Guide to Foreign Currency Trading book coverTitle: The Complete Idiot's Guide to Foreign Currency Trading
Authors: Gary Tilkin and Lita Epstein
Synopsis: As the world’s largest financial market, where profits are sought on the differences between global currency exchange rates, many traders [...]

Currency Trading for Dummies

Currency Trading for Dummies book coverTitle: Currency Trading for Dummies: A reference for the rest of us
Authors: Mark Galant and Brian Dolan
Synopsis: This nuts and bolts guide gives you a step-by-step action plan for understanding and trading the Forex market.[...]


Technical Analysis

Ichimoku Charts

Ichimoku Charts book coverTitle: Ichimoku Charts: An Introduction to Ichimoku Kinko Clouds
Author: Nicole Elliott
Synopsis: The book covers the history of candlestick charts - explaining the context in which they developed. It then moves on to explain how in the 1940s and 1950s a journalist, with the pseudonym Ichimoku Sanjin [...]

Technical analysis of the currency market

Technical analysis of the currency market book coverTitle: Technical Analysis of the Currency Market
Author: Boris Schlossberg, Fundamental Analyst at Forex Capital Markets
Synopsis: Global currency markets combine unparalleled leverage, high short-term volatility, low execution costs, and significant long-term trends in an atmosphere of laissez-faire [...]


Forex Strategies

Profiting with Forex

Profiting with Forex book coverTitle: Profiting with Forex
Authors: John Jagerson and S. Wade Hansen
Synopsis: PFX stands for Profiting with Forex, a fun book written by John Jagerson and S. Wade Hansen, with an accompanying website---www.PFXglobal.com.[...]

Opportunities in Calendar Forex Trading Patterns

Opportunities in Calendar Forex Trading Patterns book coverTitle: Opportunities in Calendar Forex Trading Patterns. How knowing when to trade can dramatically improve your foreign exchange profits.
Author: John Forman, Managing Analyst & Chief Trader at Anduril Inc
Synopsis: Learn now what the next few months will bring in forex and profit from it! The foreign exchange market exhibits patterns of price behavior. Opportunities in Calendar Forex [...]

High Probability Trading Setups for the Currency Market

High Probability Trading Setups for the Currency Market book coverTitle: High Probability Trading Setups for the Currency Market
Authors: Kathy Lien and Boris Schlossberg
Synopsis: In this e-book they put together a logical and intelligent approach to currency trading utilizing their latest and best setups. [...]

Forex Trading for Maximum Profit

Forex Trading for Maximum Profit book coverTitle: Forex Trading for Maximum Profit
Authors: Raghee Horner
Synopsis: Reader off this book will read it for one simple reason: You want to trade Forex successfully, which is to say you want to be a profitable Forex trader. I'm not going to lose sight of this fact. nIn fact, I can tell you why I chose to take on the painstaking effort of writing my book.[...]


Market Psychology

Bird Watching in Lion Country

Opportunities in Calendar Forex Trading Patterns book coverTitle: Bird Watching in Lion Country – Retail Forex Trading Explained (e-book only).
Author: Dirk du Toit, CEO of DayForex Capital Management
Synopsis: There is no “trading system” that can be learnt by wrote and then applied. This is a blindingly obvious fact [...]


Education

Rob Booker recommended reading (Q&A Session Transcript)

Rob Booker recommended readingTitle: Rob Booker recommends what Trading Books you should read.
Author: Rob Booker, Independent Currency Trader of www.Robbooker.com.
Topics: How to pick books that will help you?, How many strategies do you need? The 10 best books on trading and how they can [...]

Automatic Alpha

Automatic Alpha book coverTitle: Automatic Alpha: How to build a winning Trading FOREX system
Author: David J. Lyder, co-founder of iExpertAdvisor
Synopsis: Automatic Alpha is an 80+ page e-book that fully describes the process of developing a winning trading system. After finishing the book, the reader has learned the techniques [...]

The way to Trade Forex

The way to Trade Forex book coverTitle: Forex: The way to Trade Forex, discover the successful and profitable trading strategies
Author: Jay Lakhani
Synopsis: Learn how to trade forex - A step by step guide. This eBook is packed with powerful and effective Forex Trading [...]


Related Topics

Options Trading - The Hidden Reality

Options Trading The Hidden Reality bookTitle: Options Trading: The Hidden Reality, Risk Doctor guide to position adjustment and hedging.
Author: Charles M. Cottle, CEO & Founder of RiskDoctor.com.
Synopsis: The book is written from the market maker perspective and is an expanded revision of "Options: Perception [...]

The Silk Road to Riches

The Silk Road to Riches bookTitle: The Silk Road to Riches: How You Can Profit by Investing in Asia's Newfound Prosperity.
Author: Yiannis G. Mostrous, editor of Growth Engines, KCI Communications, Inc.
Synopsis: Asia is now the world's #1 growth story. Farsighted investors will realize enormous profits by investing in companies [...]

The Tax Guide for Traders

The Tax Guide for Traders book coverTitle: The Tax Guide for Traders: Includes the latest tax law changes. Learn how to deal with the IRS. Lower your taxes legally
Author: Robert A. Green
Synopsis: Taxes play an integral role in trading success, yet no book today clearly and adequately explains the tax issues that are unique to active traders and investors. [...]

Published on Mon, Nov 19 2007, 11:15 GMT

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Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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Market News

Higher sterling money market rates and indications that U.K. inflation isn't backing down as quickly as some hoped. By Nicholas Hastings
LONDON (Dow Jones)--Higher sterling money market rates and indications that U.K. inflation isn't backing down as quickly as some hoped are helping to underpin the pound, especially against the dollar. Nevertheless, sterling is still expected to continue its slide as the U.S. subprime mortgage crisis takes its toll on U.K. financial institutions and the U.K.'s own housing market deteriorates. BNP Paribas is looking for particularly heavy losses against the Swiss franc, taking it down to levels last registered in 2003, as risk aversion continues to rise.
21 November | 0 comments


Weekly review and outlook (video report)
Weekly review and outlook (video report)
Video report by Dennis Carr about the situation on Forex market between Nov 12 - Nov 16 and with an outlook for the week ahead.
19 November | 0 comments


Economic Calendar for this week
Economic Calendar for this week
Nov 19-23
19 November | 0 comments


Are you thinking that rising risk aversion will slow the dollar's decline? Perhaps you should think again. By Nicholas Hastings
Are you thinking that rising risk aversion will slow the dollar's decline? Perhaps you should think again. By Nicholas Hastings
LONDON (Dow Jones)--The standard argument that lower global risk appetite makes riskier assets less attractive and boosts the dollar may no longer hold true. Not only has the dollar become less popular given the spread of the subprime mortgage crisis through the U.S. economy, encouraging a further diversification out of U.S. assets, but data on investor flows from the U.S. Treasury last Friday indicate a reversal in sentiment.
19 November | 0 comm

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World Foreign Exchange Rates

World Foreign Exchange Rates

Select currency
U.S. Dollar - Major currencies
Last update: 24/11/2007 00:00 GMT
bid ask change % high low
USD EUR 0.6736 0.6741 0.0005 0.0743 0.676 0.6681
USD GBP 0.4845 0.485 -0.0002 -0.0413 0.4871 0.4815
USD JPY 108.31 108.34 -0.19 -0.1751 108.60 107.56
USD CHF 1.1022 1.1026 0.0014 0.1272 1.1044 1.0895
USD CAD 0.9891 0.9896 0.004 0.4061 0.9898 0.9798
USD AUD 1.1396 1.1406 -0.0064 -0.5585 1.1504 1.1377
USD NZD 1.317 1.318 -0.0106 -0.7984 1.3319 1.3159
USD KRW 930.40 931.10 -2.7 -0.2894 935.60 928.50
USD SGD 1.4414 1.4426 -0.0095 -0.6548 1.4511 1.4399
USD NOK 5.401 5.408 0.0005 0.0093 5.4432 5.3475
USD DKK 5.0208 5.0258 0.0031 0.0618 5.0415 4.9787
USD SEK 6.2554 6.2604 -0.016 -0.2551 6.3079 6.2283
USD MXN 10.971 10.976 0.012 0.1095 10.9859 10.9533

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Currencies at a glance

The main resources for your trading pair one click away!
Majors
EUR/USD | 16:22 GMT
Trades around first support level 1.4823
GBP/USD | 16:23 GMT
Trades around first support level 2.0575
USD/CHF | 16:24 GMT
Trades around pivot level 1.1018
USD/JPY | 16:24 GMT
Trades around first support level 108.10
EUR Crosses
EUR/CAD | 16:32 GMT
Moves up above 1.4625 . Fast and slow MA move in mixed direction
EUR/CHF | 16:32 GMT
Moves up above 1.6325 . Fast and slow MA move in mixed direction
EUR/GBP | 16:33 GMT
Trades around 0.7205 . Fast and slow MA move in mixed direction
EUR/JPY | 16:33 GMT
Moves up back above 160.00 . Fast and slow MA move in mixed direction

GBP Crosses
GBP/AUD | 16:35 GMT
Trades below 2.3600 . Fast and slow MA move in mixed direction
GBP/CAD | 16:35 GMT
Moves up above 2.0295 . Fast and slow MA move in mixed direction
GBP/CHF | 16:35 GMT
Moves down below 2.2685 . Fast and slow MA are falling
GBP/JPY | 16:36 GMT
Continues to move down below 222.00 . Fast and slow MA are still falling
JPY Crosses
AUD/JPY | 16:38 GMT
Trades above 94.00 . Fast and slow MA move in mixed direction
CAD/JPY | 16:38 GMT
Moves down below 109.45 . Fast and slow MA are still falling
CHF/JPY | 16:38 GMT
Continues to move down below 98.00 . Fast and slow MA are still falling
NZD/JPY | 16:38 GMT
Continues to move up above 81.25 . Fast and slow MA move in mixed direction

Small Dollars
AUD/USD | 16:25 GMT
Continues to trade around pivot level 0.8727
NZD/USD | 16:26 GMT
Trades around pivot level 0.7524
USD/CAD | 16:27 GMT
Moves up toward first resistant level 0.9899

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world wide currencies

Brazil Continues to Intervene

For nearly two months, the Central Bank of Brazil was content to sit on the sidelines and watch its currency, the Real, appreciate rapidly against the Dollar. Beginning on October 8, however, the Central Bank has intervened in forex markets every day as part of a targeted effort to depress the Real. Its efforts have been relatively straightforward; rather than issue currency stabilization bonds, the Central Bank has opted to purchase massive quantities of Dollar-denominated assets in the open market, bringing its foreign exchange reserves to $168 Billion. Moreover, its efforts have been largely successful, as the Real has fallen slightly against the Dollar during this period of intervention. However, logic (and past experience) dictate that as soon as it stops intervening, the Real will resume its previous (upward) course against the Dollar. Bloomberg News reports:

Foreign flows into Brazilian financial markets and booming commodity exports have made the real the best performer against the dollar this year among the 16 most-actively traded currencies tracked by Bloomberg, gaining 20 percent.

Read More: Brazilian Currency Falls After Central Bank Buys U.S. Dollars

Posted to Central Banks , Emerging Currencies | Permalink

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November 21, 2007
Carry Trade Continues to Suffer

The carry trade is officially unwinding, if not coming to an outright end; the result is that the Yen is belatedly joining the ranks of the rest of the world's major currencies, which have risen tremendously against the Dollar. The reason for the sudden weakness in the carry trade (i.e. Yen strength) is volatility. The US "credit crunch" began to significantly effect US bond and stock market valuations almost four months ago, but the full impact still hasn't been felt. The latest development concerns the quarterly earnings release for Freddie Mac, an American company whose main purpose is to provide liquidity to the US mortgage market, through the buying and selling of mortgage-backed securities. However, Freddie Mac is now bleeding money, and while it is unofficially guaranteed by the federal government, investors are seriously questioning its ability to prop up the ailing market for housing CDOs. And this uncertainty is causing investors to eschew risk, in short, to abandon the carry trade in favor of more traditional forex strategies. Reuters reports:

The low-yielding Japanese currency tends to do well in times of risk aversion because investors unwind carry trades that use cheaply borrowed yen to buy higher-yielding currencies.

Read More: Dollar sinks to 2-year low vs yen, euro hits highs

Posted to Investing & Trading, Japanese Yen | Permalink

November 20, 2007
Swiss Franc Benefits from Volatility

As the Japanese Yen continues to enjoy the carry trade limelight, another currency fulfilling a similar role has been largely overlooked: the Swiss Franc. While not quite as low as rates in Japan, Swiss interest rates are still extremely modest by international standards. As a result, many carry traders have used the Swiss Franc in much the same way as the Japanese Yen, selling it short in favor of higher-yielding currencies. And, just as the Japanese Yen has begun climbing over the last few months, so has the Swiss Franc. The volatility in capital markets caused by the credit crunch is just as prevalent in forex markets, and is leading currency traders to eschew yield (high interest rates) in favor of stability, which benefits currencies like the Franc. The Economic Times reports:

Another trader with a multinational bank said with carry trades now coming under heavy pressure and banks being reluctant to fund investors entering into such trades, risk aversion seems to be taking over the global currency markets.

Read More: Swiss franc safe haven for carry trade

Posted to Investing & Trading, Major Currencies | Permalink

November 19, 2007
Fed to Hold Rates?

In a recent speech, a prominent Federal Reserve Board governor strongly hinted that the Fed would maintain US interest rates at current levels at the Fed's next meeting. The Fed is caught in the delicate position of trying to balance economic growth with the specter of inflation. While technically the Fed is always trying to meditate between these two outcomes, its current position is especially tenuous since the US economy is trending downward while inflation trends upward. Despite the emphatic claims to the contrary, futures markets are still pricing in a rate cut, setting the stage for a showdown with the Fed. As usual, the Dollar's fate hangs in the balance. The Financial Times reports:

Mr Kroszner said that in the near term "the economy will probably go through a rough patch" with falls in house prices, home construction and subdued consumer spending. He did not rule out a future cut in rates.

Read More: Fed and markets set to clash

Posted to Central Banks , US Dollar | Permalink

November 16, 2007
Yen Carry Trade: Going Strong or Coming to an End

Yesterday, the Financial Times ran two stories on the Japanese carry trade, painting a seemingly contradictory picture. The first article profiled the rise in the number of retail forex accounts in Japan, projected to reach 1 million by year-end. More amazing is the fact that many of these traders are actually quite sophisticated, taking long and short positions in multiple currencies, though of course the most popular bet remains the carry trade, which involves going short the Yen and long a higher-yielding currency. Meanwhile, as the second article expounded, the Yen carry trade is under pressure, having appreciated nearly 5% against the US Dollar, Euro and Australian Dollar. The cause is certainly volatility in global capital markets, precipitated by what has been termed a "credit crunch," itself caused by the slump in housing prices. The hoard of Japanese retail investors may have to reverse their positions...

Read More: Pressure grows on yen carry trades and Forex Lures Japanese Investors

Posted to Investing & Trading, Japanese Yen | Permalink

November 15, 2007
Why China Should Not Dump the Dollar

In fact, China may have to increase its exposure to the dollar, according to the comments of Brad Setser of the Council of Foreign Relations: "In my mind, so long as China resists more rapid appreciation of the renminbi versus the dollar, it's rather difficult for China to diversify in any meaningful way against the dollar. If China really started to diversify away from the dollar, I think it's a big enough player that it would put downward additional pressure on the dollar."

And additional downard pressure on the USD should be what China is trying to avoid. China, being the largest exporter to the U.S. does not want to see appreciation of its currency against the USD, as that would make its goods more expensive (and therefore less competitive) in America.

In fact, Setser goes on to say that in order to prevent the USD from sliding even further downward against the RMB, China would have to not only retain its present stock of USD, but in fact buy even more.

Read more: Can China Dump the Dollar?

Posted to Chinese Yuan (RMB), US Dollar | Permalink

Central Banks Prop up Dollar

Yesterday, we posted about the Central Bank of Australia, which intervened on behalf of its currency over the summer. In fact, several Central Banks have either intervened or are in the process of intervening, all with the goal of holding their currencies down (against the US Dollar) rather than lifting them up, as Australia had effected to do. Columbia has already imposed strict rules governing the inflow of foreign capital, intended to discourage speculation, which is driving up the South American nation's currency. Indian regulators have since followed suit with similar rules. South Korea's Central Bank, meanwhile, is using slightly different tactics, undertaking a review of forex forward contracts, which it believes (probably erroneously) are interfering with its ability to hold down the Korean Won. Bloomberg reports:

"Central banks are trying noninterest rate methods to stabilize growth and capital flows. It's something extraordinary. They haven't used these venues for a long time. It's sort of the last resort the central banks would like to tap."

Read More: Currency Controls Return as Central Banks Fight Gains

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Permalink Foreign Currency Trading
. Fraud Advisory from the CFTC: Foreign Currency (Forex) Fraud · CFTC Brochure on Forex Fraud (PDF) CFTC Brochure on Forex Fraud (HTML) ...
. http://www.cftc.gov/enf/enfforex.htm
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Permalink MGFOREX
. MG Financial Group - Forex, FX, Online Forex Trading.
. http://www.mgforex.com/
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Permalink What is Forex
. Foreign Exchange (FOREX) is the arena where a nation's currency is exchanged for that of another. The foreign exchange market is the largest financial ...
. http://www.mgforex.com/eng/new-to-forex/content/what-is-forex.htm
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Permalink Forex Education, Forex Training, Currency Trading, Beginner's ...
. BabyPips.com is a free, funny, and easy-to-understand guide for teaching beginners how to trade the forex foreign currency market.
. http://www.babypips.com/
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Permalink Forex, Online Currency Trading, Forex Trading, Currency Trading ...
. CMS Forex is a leader in online foreign currency trading providing competitive forex trading terms, advanced technology and excellent customer service to ...
. http://www.cmsfx.com/
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Permalink Forex Trading System with Forex Signals and Broker Reviews
. Forex Trading System for you to JOIN UP FOR FREE with Daily Forex Signals, latest Reviews, Forex Traders Forum and more about your Forex Broker.
. http://www.forexbastards.com/
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Permalink Forex | Forex Trading | Currency Trading | GoForex
. Forex currency trading guide and introduction to the forex market from Go Forex.
. http://www.goforex.net/
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Permalink Forex (FX)
. Forex (FX) - Definition of Forex (FX) on Investopedia - The foreign exchange (also known as forex or FX) market is the place where currencies are traded.