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Saturday, March 5, 2011

Easy Currency Converter Calculator

Use a currency converter to quickly find out what the currency Forex market is doing right now.

A Forex converter, or currency conversion calculator, will give you a quick and easy answer to your question.

Using a Forex calculator can be a good way to get vital information as a Forex trader. This page features a great currency converter calculator that you can use to convert one currency to another.

(Skip straight to the Currency Converter Calculator)

This tool is extremely easy to use and can be very valuable at times. Here are a few things to consider about the currency converter calculator and how it is used.

With this currency converter calculator, you simply have to input the number of units of one currency and choose the other currency that you want to convert it to. At that point, you can click the "go" button and it will automatically do the conversion for you. This is extremely simple and anyone should be able to use this tool effectively.

Even though anyone can input the numbers into a currency converter calculator, this should not necessarily be the most important thing in your Forex trading arsenal. The truth is, there are many factors that go into the value of a country's currency.

It is very easy to plug some numbers into a calculator and either be happy or sad with the numbers that are spit back at us. Many traders allow this to impact their mood and impact the way that they trade.

In reality, you should use a currency converter calculator as only one small part of your arsenal. This is a tool to use and should not be the be-all end-all.

There are many factors that can influence the value of a currency. For example, one of the biggest factors is the political climate of the country. If the political climate of the country is very stable, then the currency of that country will generally be stable as well.

Another factor that can influence the value of the currency is the employment rate. If there is a large amount of unemployment in the country, the economy will not be doing as well. When that happens, the value of the currency will generally fall.Business prosperity is another factor that goes into determining the value of a currency. If businesses are doing well in a particular country, that will positively impact the economy. If businesses are not doing so well, it will have negative effects on the economy.

Economic news announcements are released every week that have a huge impact on the value of one currency against another. If you are going to be a successful Forex trader, you will need to pay attention to these news releases as well as other technical indicators such as a currency converter calculator.

Overall, there are a number of things that you should take into consideration as a Forex trader. You should never rely on a single tool to make your trading decisions for you - including a currency converter calculator.

Use the calculator as part of a bigger repertoire of tools and strategies but make sure that it is in its proper place.

xe.com Universal Currency Converter ®

Convert this amount
of this type of currency
into this type of currency.




enter any amount
Euro EUR United States Dollars USD United Kingdom Pounds GBP Canada Dollars CAD Australia Dollars AUD Japan Yen JPY India Rupees INR New Zealand Dollars NZD Switzerland Francs CHF South Africa Rand ZAR -- Top 85 Currencies: -- Afghanistan Afghanis AFA Albania Leke ALL Algeria Dinars DZD America (United States) Dollars USD Argentina Pesos ARS Australia Dollars AUD Austria Schillings ATS* Bahamas Dollars BSD Bahrain Dinars BHD Bangladesh Taka BDT Barbados Dollars BBD Belgium Francs BEF* Bermuda Dollars BMD Brazil Reais BRL Bulgaria Leva BGN Canada Dollars CAD CFA BCEAO Francs XOF CFA BEAC Francs XAF Chile Pesos CLP China Yuan Renminbi CNY Colombia Pesos COP Comptoirs Français du Pacifique Francs Costa Rica Colones CRC Croatia Kuna HRK Cyprus Pounds CYP Czech Republic Koruny CZK Denmark Kroner DKK Deutsche (Germany) Marks DEM* Dominican Republic Pesos DOP Dutch (Netherlands) Guilders NLG* Eastern Caribbean Dollars XCD Egypt Pounds EGP Estonia Krooni EEK Euro EUR Fiji Dollars FJD Finland Markkaa FIM* France Francs FRF* Germany Deutsche Marks DEM* Gold Ounces XAU Greece Drachmae GRD* Holland (Netherlands) Guilders NLG* Hong Kong Dollars HKD Hungary Forint HUF Iceland Kronur ISK IMF Special Drawing Right XDR India Rupees INR Indonesia Rupiahs IDR Iran Rials IRR Iraq Dinars IQD Ireland Pounds IEP* Israel New Shekels ILS Italy Lire ITL* Jamaica Dollars JMD Japan Yen JPY Jordan Dinars JOD Kenya Shillings KES Korea (South) Won KRW Kuwait Dinars KWD Lebanon Pounds LBP Luxembourg Francs LUF* Malaysia Ringgits MYR Malta Liri MTL Mauritius Rupees MUR Mexico Pesos MXN Morocco Dirhams MAD Netherlands Guilders NLG* New Zealand Dollars NZD Norway Kroner NOK Oman Rials OMR Pakistan Rupees PKR Palladium Ounces XPD Peru Nuevos Soles PEN Philippines Pesos PHP Platinum Ounces XPT Poland Zlotych PLN Portugal Escudos PTE* Qatar Riyals QAR Romania Lei ROL Russia Rubles RUB Saudi Arabia Riyals SAR Silver Ounces XAG Singapore Dollars SGD Slovakia Koruny SKK Slovenia Tolars SIT South Africa Rand ZAR South Korea Won KRW Spain Pesetas ESP* Special Drawing Rights (IMF) XDR Sri Lanka Rupees LKR Sudan Dinars SDD Sweden Kronor SEK Switzerland Francs CHF Taiwan New Dollars TWD Thailand Baht THB Trinidad and Tobago Dollars TTD Tunisia Dinars TND Turkey New Lira TRY Turkey Lira TRL* United Arab Emirates Dirhams AED United Kingdom Pounds GBP United States Dollars USD Venezuela Bolivares VEB Vietnam Dong VND Zambia Kwacha ZMK -- Special Units: -- CFA BEAC Francs XAF CFA BCEAO Francs XOF Comptoirs Français du Pacifique Francs Eastern Caribbean Dollars XCD Euro EUR IMF Special Drawing Rights XDR -- Precious Metals: -- Silver Ounces XDR Gold Ounces XAU Platinum Ounces XPT Palladium Ounces XPD
scroll down to see more currencies
United States Dollars USD Euro EUR United Kingdom Pounds GBP Canada Dollars CAD Australia Dollars AUD Japan Yen JPY India Rupees INR New Zealand Dollars NZD Switzerland Francs CHF South Africa Rand ZAR -- Top 85 Currencies: -- Afghanistan Afghanis AFA Albania Leke ALL Algeria Dinars DZD America (United States) Dollars USD Argentina Pesos ARS Australia Dollars AUD Austria Schillings ATS* Bahamas Dollars BSD Bahrain Dinars BHD Bangladesh Taka BDT Barbados Dollars BBD Belgium Francs BEF* Bermuda Dollars BMD Brazil Reais BRL Bulgaria Leva BGN Canada Dollars CAD CFA BCEAO Francs XOF CFA BEAC Francs XAF Chile Pesos CLP China Yuan Renminbi CNY Colombia Pesos COP Comptoirs Français du Pacifique Francs Costa Rica Colones CRC Croatia Kuna HRK Cyprus Pounds CYP Czech Republic Koruny CZK Denmark Kroner DKK Deutsche (Germany) Marks DEM* Dominican Republic Pesos DOP Dutch (Netherlands) Guilders NLG* Eastern Caribbean Dollars XCD Egypt Pounds EGP Estonia Krooni EEK Euro EUR Fiji Dollars FJD Finland Markkaa FIM* France Francs FRF* Germany Deutsche Marks DEM* Gold Ounces XAU Greece Drachmae GRD* Holland (Netherlands) Guilders NLG* Hong Kong Dollars HKD Hungary Forint HUF Iceland Kronur ISK IMF Special Drawing Right XDR India Rupees INR Indonesia Rupiahs IDR Iran Rials IRR Iraq Dinars IQD Ireland Pounds IEP* Israel New Shekels ILS Italy Lire ITL* Jamaica Dollars JMD Japan Yen JPY Jordan Dinars JOD Kenya Shillings KES Korea (South) Won KRW Kuwait Dinars KWD Lebanon Pounds LBP Luxembourg Francs LUF* Malaysia Ringgits MYR Malta Liri MTL Mauritius Rupees MUR Mexico Pesos MXN Morocco Dirhams MAD Netherlands Guilders NLG* New Zealand Dollars NZD Norway Kroner NOK Oman Rials OMR Pakistan Rupees PKR Palladium Ounces XPD Peru Nuevos Soles PEN Philippines Pesos PHP Platinum Ounces XPT Poland Zlotych PLN Portugal Escudos PTE* Qatar Riyals QAR Romania Lei ROL Russia Rubles RUB Saudi Arabia Riyals SAR Silver Ounces XAG Singapore Dollars SGD Slovakia Koruny SKK Slovenia Tolars SIT South Africa Rand ZAR South Korea Won KRW Spain Pesetas ESP* Special Drawing Rights (IMF) XDR Sri Lanka Rupees LKR Sudan Dinars SDD Sweden Kronor SEK Switzerland Francs CHF Taiwan New Dollars TWD Thailand Baht THB Trinidad and Tobago Dollars TTD Tunisia Dinars TND Turkey New Lira TRY Turkey Lira TRL* United Arab Emirates Dirhams AED United Kingdom Pounds GBP United States Dollars USD Venezuela Bolivares VEB Vietnam Dong VND Zambia Kwacha ZMK -- Special Units: -- CFA BEAC Francs XAF CFA BCEAO Francs XOF Comptoirs Français du Pacifique Francs Eastern Caribbean Dollars XCD Euro EUR IMF Special Drawing Rights XDR -- Precious Metals: -- Silver Ounces XDR Gold Ounces XAU Platinum Ounces XPT Palladium Ounces XPD
scroll down to see more currencies








Universal Currency Converter under license from XE.com. Terms of Use













Leave Currency Converter Calculator and return to Forex Trading Beginner Homepage


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What's This?

Find this page useful? Please pay it forward. Here's how...

Would you prefer to share this page with others by linking to it?
Click on the HTML link code below.Copy and paste it, adding a note of your own, into your blog, a Web page, forums, a blog comment, your Facebook account, or anywhere that someone would find this page valuable.Currency Converter Calculator, Currency Conversion Calculator, Forex Converter

Easy Currency Converter Calculator

Use a currency converter to quickly find out what the currency Forex market is doing right now.

A Forex converter, or currency conversion calculator, will give you a quick and easy answer to your question.

Using a Forex calculator can be a good way to get vital information as a Forex trader. This page features a great currency converter calculator that you can use to convert one currency to another.

(Skip straight to the Currency Converter Calculator)

This tool is extremely easy to use and can be very valuable at times. Here are a few things to consider about the currency converter calculator and how it is used.

With this currency converter calculator, you simply have to input the number of units of one currency and choose the other currency that you want to convert it to. At that point, you can click the "go" button and it will automatically do the conversion for you. This is extremely simple and anyone should be able to use this tool effectively.

Even though anyone can input the numbers into a currency converter calculator, this should not necessarily be the most important thing in your Forex trading arsenal. The truth is, there are many factors that go into the value of a country's currency.

It is very easy to plug some numbers into a calculator and either be happy or sad with the numbers that are spit back at us. Many traders allow this to impact their mood and impact the way that they trade.

In reality, you should use a currency converter calculator as only one small part of your arsenal. This is a tool to use and should not be the be-all end-all.

There are many factors that can influence the value of a currency. For example, one of the biggest factors is the political climate of the country. If the political climate of the country is very stable, then the currency of that country will generally be stable as well.

Another factor that can influence the value of the currency is the employment rate. If there is a large amount of unemployment in the country, the economy will not be doing as well. When that happens, the value of the currency will generally fall.Business prosperity is another factor that goes into determining the value of a currency. If businesses are doing well in a particular country, that will positively impact the economy. If businesses are not doing so well, it will have negative effects on the economy.

Economic news announcements are released every week that have a huge impact on the value of one currency against another. If you are going to be a successful Forex trader, you will need to pay attention to these news releases as well as other technical indicators such as a currency converter calculator.

Overall, there are a number of things that you should take into consideration as a Forex trader. You should never rely on a single tool to make your trading decisions for you - including a currency converter calculator.

Use the calculator as part of a bigger repertoire of tools and strategies but make sure that it is in its proper place.

xe.com Universal Currency Converter ®

Convert this amount
of this type of currency
into this type of currency.




enter any amount
Euro EUR United States Dollars USD United Kingdom Pounds GBP Canada Dollars CAD Australia Dollars AUD Japan Yen JPY India Rupees INR New Zealand Dollars NZD Switzerland Francs CHF South Africa Rand ZAR -- Top 85 Currencies: -- Afghanistan Afghanis AFA Albania Leke ALL Algeria Dinars DZD America (United States) Dollars USD Argentina Pesos ARS Australia Dollars AUD Austria Schillings ATS* Bahamas Dollars BSD Bahrain Dinars BHD Bangladesh Taka BDT Barbados Dollars BBD Belgium Francs BEF* Bermuda Dollars BMD Brazil Reais BRL Bulgaria Leva BGN Canada Dollars CAD CFA BCEAO Francs XOF CFA BEAC Francs XAF Chile Pesos CLP China Yuan Renminbi CNY Colombia Pesos COP Comptoirs Français du Pacifique Francs Costa Rica Colones CRC Croatia Kuna HRK Cyprus Pounds CYP Czech Republic Koruny CZK Denmark Kroner DKK Deutsche (Germany) Marks DEM* Dominican Republic Pesos DOP Dutch (Netherlands) Guilders NLG* Eastern Caribbean Dollars XCD Egypt Pounds EGP Estonia Krooni EEK Euro EUR Fiji Dollars FJD Finland Markkaa FIM* France Francs FRF* Germany Deutsche Marks DEM* Gold Ounces XAU Greece Drachmae GRD* Holland (Netherlands) Guilders NLG* Hong Kong Dollars HKD Hungary Forint HUF Iceland Kronur ISK IMF Special Drawing Right XDR India Rupees INR Indonesia Rupiahs IDR Iran Rials IRR Iraq Dinars IQD Ireland Pounds IEP* Israel New Shekels ILS Italy Lire ITL* Jamaica Dollars JMD Japan Yen JPY Jordan Dinars JOD Kenya Shillings KES Korea (South) Won KRW Kuwait Dinars KWD Lebanon Pounds LBP Luxembourg Francs LUF* Malaysia Ringgits MYR Malta Liri MTL Mauritius Rupees MUR Mexico Pesos MXN Morocco Dirhams MAD Netherlands Guilders NLG* New Zealand Dollars NZD Norway Kroner NOK Oman Rials OMR Pakistan Rupees PKR Palladium Ounces XPD Peru Nuevos Soles PEN Philippines Pesos PHP Platinum Ounces XPT Poland Zlotych PLN Portugal Escudos PTE* Qatar Riyals QAR Romania Lei ROL Russia Rubles RUB Saudi Arabia Riyals SAR Silver Ounces XAG Singapore Dollars SGD Slovakia Koruny SKK Slovenia Tolars SIT South Africa Rand ZAR South Korea Won KRW Spain Pesetas ESP* Special Drawing Rights (IMF) XDR Sri Lanka Rupees LKR Sudan Dinars SDD Sweden Kronor SEK Switzerland Francs CHF Taiwan New Dollars TWD Thailand Baht THB Trinidad and Tobago Dollars TTD Tunisia Dinars TND Turkey New Lira TRY Turkey Lira TRL* United Arab Emirates Dirhams AED United Kingdom Pounds GBP United States Dollars USD Venezuela Bolivares VEB Vietnam Dong VND Zambia Kwacha ZMK -- Special Units: -- CFA BEAC Francs XAF CFA BCEAO Francs XOF Comptoirs Français du Pacifique Francs Eastern Caribbean Dollars XCD Euro EUR IMF Special Drawing Rights XDR -- Precious Metals: -- Silver Ounces XDR Gold Ounces XAU Platinum Ounces XPT Palladium Ounces XPD
scroll down to see more currencies
United States Dollars USD Euro EUR United Kingdom Pounds GBP Canada Dollars CAD Australia Dollars AUD Japan Yen JPY India Rupees INR New Zealand Dollars NZD Switzerland Francs CHF South Africa Rand ZAR -- Top 85 Currencies: -- Afghanistan Afghanis AFA Albania Leke ALL Algeria Dinars DZD America (United States) Dollars USD Argentina Pesos ARS Australia Dollars AUD Austria Schillings ATS* Bahamas Dollars BSD Bahrain Dinars BHD Bangladesh Taka BDT Barbados Dollars BBD Belgium Francs BEF* Bermuda Dollars BMD Brazil Reais BRL Bulgaria Leva BGN Canada Dollars CAD CFA BCEAO Francs XOF CFA BEAC Francs XAF Chile Pesos CLP China Yuan Renminbi CNY Colombia Pesos COP Comptoirs Français du Pacifique Francs Costa Rica Colones CRC Croatia Kuna HRK Cyprus Pounds CYP Czech Republic Koruny CZK Denmark Kroner DKK Deutsche (Germany) Marks DEM* Dominican Republic Pesos DOP Dutch (Netherlands) Guilders NLG* Eastern Caribbean Dollars XCD Egypt Pounds EGP Estonia Krooni EEK Euro EUR Fiji Dollars FJD Finland Markkaa FIM* France Francs FRF* Germany Deutsche Marks DEM* Gold Ounces XAU Greece Drachmae GRD* Holland (Netherlands) Guilders NLG* Hong Kong Dollars HKD Hungary Forint HUF Iceland Kronur ISK IMF Special Drawing Right XDR India Rupees INR Indonesia Rupiahs IDR Iran Rials IRR Iraq Dinars IQD Ireland Pounds IEP* Israel New Shekels ILS Italy Lire ITL* Jamaica Dollars JMD Japan Yen JPY Jordan Dinars JOD Kenya Shillings KES Korea (South) Won KRW Kuwait Dinars KWD Lebanon Pounds LBP Luxembourg Francs LUF* Malaysia Ringgits MYR Malta Liri MTL Mauritius Rupees MUR Mexico Pesos MXN Morocco Dirhams MAD Netherlands Guilders NLG* New Zealand Dollars NZD Norway Kroner NOK Oman Rials OMR Pakistan Rupees PKR Palladium Ounces XPD Peru Nuevos Soles PEN Philippines Pesos PHP Platinum Ounces XPT Poland Zlotych PLN Portugal Escudos PTE* Qatar Riyals QAR Romania Lei ROL Russia Rubles RUB Saudi Arabia Riyals SAR Silver Ounces XAG Singapore Dollars SGD Slovakia Koruny SKK Slovenia Tolars SIT South Africa Rand ZAR South Korea Won KRW Spain Pesetas ESP* Special Drawing Rights (IMF) XDR Sri Lanka Rupees LKR Sudan Dinars SDD Sweden Kronor SEK Switzerland Francs CHF Taiwan New Dollars TWD Thailand Baht THB Trinidad and Tobago Dollars TTD Tunisia Dinars TND Turkey New Lira TRY Turkey Lira TRL* United Arab Emirates Dirhams AED United Kingdom Pounds GBP United States Dollars USD Venezuela Bolivares VEB Vietnam Dong VND Zambia Kwacha ZMK -- Special Units: -- CFA BEAC Francs XAF CFA BCEAO Francs XOF Comptoirs Français du Pacifique Francs Eastern Caribbean Dollars XCD Euro EUR IMF Special Drawing Rights XDR -- Precious Metals: -- Silver Ounces XDR Gold Ounces XAU Platinum Ounces XPT Palladium Ounces XPD
scroll down to see more currencies








Universal Currency Converter under license from XE.com. Terms of Use













Leave Currency Converter Calculator and return to Forex Trading Beginner Homepage


Share this page:

What's This?

Find this page useful? Please pay it forward. Here's how...

Would you prefer to share this page with others by linking to it?
Click on the HTML link code below.Copy and paste it, adding a note of your own, into your blog, a Web page, forums, a blog comment, your Facebook account, or anywhere that someone would find this page valuable.Currency Converter Calculator, Currency Conversion Calculator, Forex Converter

Forex Business In India

The popularity of automated trading in forex market has increased dramatically in the last few years. If you ask a forex expert advisor regarding this trend, he/she will tell you that the fast computers, high speed internet and trading programs are the main reasons for this growing trend. Forex Business In India

The most unfortunate fact is that most of the new traders start without getting adequate knowledge about trading foreign currencies and thus lose money. This gives Forex trading a very bad name in the public. Most of the people make huge sums of money through online forex trading and the below mentioned points will be crucial in becoming a success in the automated forex trading scenario.

Trade set up

The automated trading system, you choose will determine individual trade setups. It should have a particular set of rules to follow. However, the final decision will be yours if you are not into forex auto. Therefore you must know the setup rules and then execute the trade. You must be capable of watching the charts and understand when a trade is set up even before the trading system produces a forex trading signal. If the traders fail to notice this, they may incur huge losses.

Proper attention to charts

You must give ample attention to reading as well as understanding the charts even if you are into forex auto. Understanding the basic rules of chart plotting is a necessity. A proper charting will require various key indicators including resistance and support and multiple time frames. You should have a proper understanding about the types of indicators in the charts used. Forex Business In India

Importance of entry points

While using an automated trading system, the entry points must be part of trade rules of user’s system. However, you must know possible entry points even before the system gives a forex signal. Entry points can be defined as the price levels that will abide by the rules and also have highest probability of success. You cannot succeed in forex trading without having a proper idea about entry points as a proper start is necessary in the long-run.

Protection of profits

The trade should be done with proper knowledge about the stops and profits levels. The main reason why the experts advice people to do is that potential profits and losses when compared will give you an idea whether to trade or not to. Each user will have multiple profit levels and they have the freedom of evaluating the trade while approaching a particular level. Money management gains its importance under such circumstances.

Most of the automated trading systems will have indicators regarding where to stop and what the targets regarding profits are. If the automation is complete, the computer of the user should be programmed accordingly. In most of the cases, these levels are based on existing trade rules. Most of the users expect large profits and this increases the importance of making perfect stops so that the profits can be protected.

The above-mentioned are the reasons why automated forex trading is growing in popularity. Forex Business In India

Forex Business In India

The popularity of automated trading in forex market has increased dramatically in the last few years. If you ask a forex expert advisor regarding this trend, he/she will tell you that the fast computers, high speed internet and trading programs are the main reasons for this growing trend. Forex Business In India

The most unfortunate fact is that most of the new traders start without getting adequate knowledge about trading foreign currencies and thus lose money. This gives Forex trading a very bad name in the public. Most of the people make huge sums of money through online forex trading and the below mentioned points will be crucial in becoming a success in the automated forex trading scenario.

Trade set up

The automated trading system, you choose will determine individual trade setups. It should have a particular set of rules to follow. However, the final decision will be yours if you are not into forex auto. Therefore you must know the setup rules and then execute the trade. You must be capable of watching the charts and understand when a trade is set up even before the trading system produces a forex trading signal. If the traders fail to notice this, they may incur huge losses.

Proper attention to charts

You must give ample attention to reading as well as understanding the charts even if you are into forex auto. Understanding the basic rules of chart plotting is a necessity. A proper charting will require various key indicators including resistance and support and multiple time frames. You should have a proper understanding about the types of indicators in the charts used. Forex Business In India

Importance of entry points

While using an automated trading system, the entry points must be part of trade rules of user’s system. However, you must know possible entry points even before the system gives a forex signal. Entry points can be defined as the price levels that will abide by the rules and also have highest probability of success. You cannot succeed in forex trading without having a proper idea about entry points as a proper start is necessary in the long-run.

Protection of profits

The trade should be done with proper knowledge about the stops and profits levels. The main reason why the experts advice people to do is that potential profits and losses when compared will give you an idea whether to trade or not to. Each user will have multiple profit levels and they have the freedom of evaluating the trade while approaching a particular level. Money management gains its importance under such circumstances.

Most of the automated trading systems will have indicators regarding where to stop and what the targets regarding profits are. If the automation is complete, the computer of the user should be programmed accordingly. In most of the cases, these levels are based on existing trade rules. Most of the users expect large profits and this increases the importance of making perfect stops so that the profits can be protected.

The above-mentioned are the reasons why automated forex trading is growing in popularity. Forex Business In India

Forex Trading Software

There are three different types of Forex Platforms, and their functions depend on what level of “work” you want to put into making a trade.

The first type of software is your regular forex trading charts software program, which is the type I use. I use Dealbooks, which is offered by my broker for free. It gives me candlestick charts which I set up to run 4-to-a-page (daily chart, hourly hart, 30 min chart and 15 min chart). This type of forex trading software is perfect for my needs, as I like to do the analysis myself before I enter a trade.

The next type is software where you can program your own forex signals. You basically tell the software “when the market behaves a certain way, let me know because I’ll want to enter”. This allows you the power to decide if you’ll ultimately enter a trade, but saves you the work of identifying signals all day.

The third and last financial software forex trading I’ll cover is the completely automated system, sometimes known as a Forex Robot or Forex Machine… or something else to that effect. This type of software does ALL the work for you – it uses technical analysis on the market to identify the signals to enter and then automatically enters the trade for you. This type of system has it’s advantages in that it takes hardly any of your time, and it removes the emotion out of entering a trade. However, I’m a big believer that no machine is capable of common sense, which is a huge factor in separating successful Forex Traders from mediocre traders.



(C) Image courtesy of thms.nl

Forex Trading Software

There are three different types of Forex Platforms, and their functions depend on what level of “work” you want to put into making a trade.

The first type of software is your regular forex trading charts software program, which is the type I use. I use Dealbooks, which is offered by my broker for free. It gives me candlestick charts which I set up to run 4-to-a-page (daily chart, hourly hart, 30 min chart and 15 min chart). This type of forex trading software is perfect for my needs, as I like to do the analysis myself before I enter a trade.

The next type is software where you can program your own forex signals. You basically tell the software “when the market behaves a certain way, let me know because I’ll want to enter”. This allows you the power to decide if you’ll ultimately enter a trade, but saves you the work of identifying signals all day.

The third and last financial software forex trading I’ll cover is the completely automated system, sometimes known as a Forex Robot or Forex Machine… or something else to that effect. This type of software does ALL the work for you – it uses technical analysis on the market to identify the signals to enter and then automatically enters the trade for you. This type of system has it’s advantages in that it takes hardly any of your time, and it removes the emotion out of entering a trade. However, I’m a big believer that no machine is capable of common sense, which is a huge factor in separating successful Forex Traders from mediocre traders.



(C) Image courtesy of thms.nl

Forex Charting Software and How to Read Forex Charts

This article will cover different types of day trade software to consider when you are learning to trade forex. At the end of this article, you can make up your own mind about forex trading charts.

Charting software for forex comes in three distinct ‘family types’ – manual, semi-automatic and automatic trading systems. Which type of software will suit you best depends on your personality type and trading style.

Manual: This is my favorite way to trade. You read the charts manually, and decide your entry and exit points based on technical analysis. Often brokers will offer this type of software for free – eg. Dealbooks 360 through GFT.

Semi-automatic: You pre-program your own buy and sell signals, then leave the software to read and analyze the charts for you. Dashboard FX Pro is an example of this type of software.

Automatic: This type of software is the easiest, but also the riskiest way to trade the foreign exchange market. It’s a plug and play type of system, which has pre-programmed signals and will analyze the market and enter and exit trades for you. Most of the time, you don’t even need to lift a finger. Software of this type includes FAPTurbo and Forex Megadroid.

Forex Charting Software and How to Read Forex Charts

This article will cover different types of day trade software to consider when you are learning to trade forex. At the end of this article, you can make up your own mind about forex trading charts.

Charting software for forex comes in three distinct ‘family types’ – manual, semi-automatic and automatic trading systems. Which type of software will suit you best depends on your personality type and trading style.

Manual: This is my favorite way to trade. You read the charts manually, and decide your entry and exit points based on technical analysis. Often brokers will offer this type of software for free – eg. Dealbooks 360 through GFT.

Semi-automatic: You pre-program your own buy and sell signals, then leave the software to read and analyze the charts for you. Dashboard FX Pro is an example of this type of software.

Automatic: This type of software is the easiest, but also the riskiest way to trade the foreign exchange market. It’s a plug and play type of system, which has pre-programmed signals and will analyze the market and enter and exit trades for you. Most of the time, you don’t even need to lift a finger. Software of this type includes FAPTurbo and Forex Megadroid.

India Forex Opportunities

This page details the rise and rise of the Forex system in India and what to expect from an Indian Online Forex Broker.

The Forex market in India has radically grown over the last decade and today transacts over 500 billion USD, a significant rise from the 100 billion USD recorded at the end of the last decade. The monthly transactions of the India Forex market is well over ten times the daily takings in India's largest financial market, the Bombay Stock Exchange.

The growth of the India Forex trade started in the early 1990s when a severe crisis in the Foreign exchange and balance of payments forced the government to liberalize the market operations changing a four-decade old rigid exchange system. Since then, the Reserve Bank of India, the overall currency regulatory body, only intervenes to support the Indian currency (the rupee), but the India Forex market is largely free. Today, the market is open and thriving and India is recognized internationally as a high profile hub in the currency trading business.

Currently, any Indian company or resident including financial institutions and banks can participate in the Forex market. This has opened up the opportunities to invest in the India Forex market to as many people as possible. As an over-the-counter and decentralized worldwide system, the possibilities of engaging in the market are unlimited to buyers and sellers around the country.

Most of the local Forex traders transact individually or through an online trading system, Forex brokers or registered financial institutions. All of these platforms carry both risks and benefits that the trader will need to evaluate. The good news though is that all trading has to be registered by the RBI to regulate the amount of Foreign currency that enters the country. All Indian Forex brokers are also registered with the regulatory bodies and this reduces the risk exposure.

The Forex market has established itself as the most liquid transactional business in the world and this portends amazing business opportunities for any interested trader. Individuals, private companies, international corporations, banks and even governments engage themselves in the business whose daily turnover is reported to be over 5 trillion US dollars. A Euromoney Poll reported a 41% annual growth in the Forex business for the last 3 years. This growth is what has attracted thousands of individuals and companies in the market who are raking in thousands of US dollars monthly.

India Forex Opportunities

This page details the rise and rise of the Forex system in India and what to expect from an Indian Online Forex Broker.

The Forex market in India has radically grown over the last decade and today transacts over 500 billion USD, a significant rise from the 100 billion USD recorded at the end of the last decade. The monthly transactions of the India Forex market is well over ten times the daily takings in India's largest financial market, the Bombay Stock Exchange.

The growth of the India Forex trade started in the early 1990s when a severe crisis in the Foreign exchange and balance of payments forced the government to liberalize the market operations changing a four-decade old rigid exchange system. Since then, the Reserve Bank of India, the overall currency regulatory body, only intervenes to support the Indian currency (the rupee), but the India Forex market is largely free. Today, the market is open and thriving and India is recognized internationally as a high profile hub in the currency trading business.

Currently, any Indian company or resident including financial institutions and banks can participate in the Forex market. This has opened up the opportunities to invest in the India Forex market to as many people as possible. As an over-the-counter and decentralized worldwide system, the possibilities of engaging in the market are unlimited to buyers and sellers around the country.

Most of the local Forex traders transact individually or through an online trading system, Forex brokers or registered financial institutions. All of these platforms carry both risks and benefits that the trader will need to evaluate. The good news though is that all trading has to be registered by the RBI to regulate the amount of Foreign currency that enters the country. All Indian Forex brokers are also registered with the regulatory bodies and this reduces the risk exposure.

The Forex market has established itself as the most liquid transactional business in the world and this portends amazing business opportunities for any interested trader. Individuals, private companies, international corporations, banks and even governments engage themselves in the business whose daily turnover is reported to be over 5 trillion US dollars. A Euromoney Poll reported a 41% annual growth in the Forex business for the last 3 years. This growth is what has attracted thousands of individuals and companies in the market who are raking in thousands of US dollars monthly.

Who benefits by higher interest rates?

An interesting public debate has started between two economists, Paul Krugman and Raghuram Rajan. The debate being that Krugman wants the interest rates to be kept low whereas Rajan wants them to be raised gradually.

Both Krugman and Rajan are economists of international repute. Rajan was the former chief economist of the Internal Monetary Fund and is currently a professor of economics at the University of Chicago. A native of Bhopal, India, Rajan has a doctorate in economics Massachusetts Institute of Technology and has authored the book Saving Capitalism from the Capitalists.

Krugman is a Nobel Laureate (2008) and currently a professor of economics at Princeton University. An op-ed columnist and a blogger for the New York Times and the author of numerous books, Kurgman’s biggest contribution is making geography relevant to economics again, and explaining the topic without any jargon so that the layperson could follow the economic debate.

So why is that two very brilliant economists have such divergent views about interest rates? There are numerous explanations for this academic fissure in opinions. Rajan belongs to the Chicago school of economics, which has favoured lower taxes and less regulation of the private sector. It also supports efficient market hypothesis, which posits that the financial markets have all the information they need to make decisions. Until the 2008 recession, this hypothesis was considered as real as the law of gravity. However, the recent recession has put some serious dents in this hypothesis.

Krugman is a Keynesian and believes that private sector may not have the perfect information all the time and it may lead to inefficient macroeconomic outcomes. The recent recession, which was brought about primarily by greed where unsecured housing loans were morphed into complex financial derivatives that were sold the world over, suggests that those who bought these products and those who declared these derivatives to be investment grade had no clue of the risks they were taking.

Keynesians argue for more involved government oversight and they also favour lower interest rates in times of recession to encourage businesses to borrow funds at cheaper prices to grow their businesses and create jobs.

Despite their divergent academic roots, their difference in opinion is not merely academic, but cultural as well. Rajan is rooted strictly in the scholastic culture in which an academic usually resides in an isolated intellectual universe and is seldom voted out of the job for offering the wrong advice. Therefore, Rajan advocates raising interest rates without waiting first for the unemployment to decline.

Krugman, on the other hand, is not just an economist, but also a popular columnist and an avid blogger. He is also a political animal and realises that in a very interdependent society, interest rates would impact unemployment, which would eventually determine the electoral outcomes. He knows well that in the past an increase in the interest rates followed an increase in unemployment rates in the United States. Raising interest rates now, when the unemployment is already in double digits in the United States, would have the same lagged effect a couple of years down the road.

Who benefits by higher interest rates?

An interesting public debate has started between two economists, Paul Krugman and Raghuram Rajan. The debate being that Krugman wants the interest rates to be kept low whereas Rajan wants them to be raised gradually.

Both Krugman and Rajan are economists of international repute. Rajan was the former chief economist of the Internal Monetary Fund and is currently a professor of economics at the University of Chicago. A native of Bhopal, India, Rajan has a doctorate in economics Massachusetts Institute of Technology and has authored the book Saving Capitalism from the Capitalists.

Krugman is a Nobel Laureate (2008) and currently a professor of economics at Princeton University. An op-ed columnist and a blogger for the New York Times and the author of numerous books, Kurgman’s biggest contribution is making geography relevant to economics again, and explaining the topic without any jargon so that the layperson could follow the economic debate.

So why is that two very brilliant economists have such divergent views about interest rates? There are numerous explanations for this academic fissure in opinions. Rajan belongs to the Chicago school of economics, which has favoured lower taxes and less regulation of the private sector. It also supports efficient market hypothesis, which posits that the financial markets have all the information they need to make decisions. Until the 2008 recession, this hypothesis was considered as real as the law of gravity. However, the recent recession has put some serious dents in this hypothesis.

Krugman is a Keynesian and believes that private sector may not have the perfect information all the time and it may lead to inefficient macroeconomic outcomes. The recent recession, which was brought about primarily by greed where unsecured housing loans were morphed into complex financial derivatives that were sold the world over, suggests that those who bought these products and those who declared these derivatives to be investment grade had no clue of the risks they were taking.

Keynesians argue for more involved government oversight and they also favour lower interest rates in times of recession to encourage businesses to borrow funds at cheaper prices to grow their businesses and create jobs.

Despite their divergent academic roots, their difference in opinion is not merely academic, but cultural as well. Rajan is rooted strictly in the scholastic culture in which an academic usually resides in an isolated intellectual universe and is seldom voted out of the job for offering the wrong advice. Therefore, Rajan advocates raising interest rates without waiting first for the unemployment to decline.

Krugman, on the other hand, is not just an economist, but also a popular columnist and an avid blogger. He is also a political animal and realises that in a very interdependent society, interest rates would impact unemployment, which would eventually determine the electoral outcomes. He knows well that in the past an increase in the interest rates followed an increase in unemployment rates in the United States. Raising interest rates now, when the unemployment is already in double digits in the United States, would have the same lagged effect a couple of years down the road.

How to Start a Forex Business

Forex is the process of simultaneously buying one currency and selling another. If you know the ropes it can be a very profitable business. Starting a trading currency can be a very difficult job for a person with no experience in the forex market.

Unless you are well versed with the tricks of the trade even the most seasoned trader may have to bite the dust. The nuances of the game can leave you confused and discouraged any time. All you need to know is a few simple tips, in order to become a successful forex trader.
Many options are available. In fact some are much better than others.
If you choose a company, go for one institution that is reputed, well-established, and has good working relationship with a bank or other financial institution. Look for a wide range of research tools such as charts, real-time quotes, and professionally written reports. In order to be quickly successful your brokerage should make available as much information as possible to you. Your brokerage must also have a favorable spread. This means there at any given moment the difference between the buying price and the selling price of a currency needs to be fast. This difference in values represents the money one can earn of each trade. A favorable speed means more money in your pocket each time.

One of the best ways of finding a good broker or a brokerage company is to hang out at forex forums and read the broker topics. You’ll learn a lot about which are good, bad and scams.

After choosing the brokerage company, you need to open up a demo account first. The demo account has a pretend balance that will help you play around with all your ideas. This in turn will help you get a general feel for currency trading before dabbling with real money. This is the best way to practice trading and learn the ways to research a currency pair before taking a position. The validity of these demo accounts is about a month, and so you can get plenty of time to gain experience. In the process you also get to learn how the software works. This will help you make informed decisions and lightning-fast trades at the opportune moments. Learn the ropes slowly through this process.

Start Currency Business/Start Foreign Exchange Business
When you begin to use a real account with actual money, you need to start small. Carrying out your trade with minimum amount of currency will be an extension of your learning process. With real money at stake you get to learn how to deal with emotions before they can affect your trading success. You should avoid the tendency to use a lot of leverage right away. You need to take some losses while learning the process. However a margin call right at the beginning can be a probability if you are close to the margin limit and this can spell disaster. You need to trade a lot closer to the cash balance in the account.
Always allow your business to grow with time. This is the hall mark of a professional and well-qualified trader.

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Pakistan s foreign exchange reserves at all time high

KARACHI : The country s foreign exchange reserves have mounted to all time high level of 17. 5 billion dollars because of high inflows of remittance and exports. The State Bank of Pakistan (SBP) on Thursday revealed that the country s liquid foreign exchange reserves have surged by 142. 8 million dollars to 17. 589 billion dollars on February 19, 2011 as compared to 17. 447 billion dollars a week earlier.
Reserves held by SBP have also post some increase and reached new peak level of 14 billion dollars. SBP reserves have mounted by 167 million dollars to 14. 08 billion dollars during last week relative of 13. 912 billion dollars on February 12, 2011. However, reserves held by banks have declined by 24. 6 million dollars to 3. 509 billion dollars during last week.

Pakistan s foreign exchange reserves at all time high

KARACHI : The country s foreign exchange reserves have mounted to all time high level of 17. 5 billion dollars because of high inflows of remittance and exports. The State Bank of Pakistan (SBP) on Thursday revealed that the country s liquid foreign exchange reserves have surged by 142. 8 million dollars to 17. 589 billion dollars on February 19, 2011 as compared to 17. 447 billion dollars a week earlier.
Reserves held by SBP have also post some increase and reached new peak level of 14 billion dollars. SBP reserves have mounted by 167 million dollars to 14. 08 billion dollars during last week relative of 13. 912 billion dollars on February 12, 2011. However, reserves held by banks have declined by 24. 6 million dollars to 3. 509 billion dollars during last week.

Pakistan’s forex reserves rise to record $17.38 bln

Reserves held by the State Bank of Pakistan (SBP) rose to $13.85 billion from $13.74 billion in the week ending Jan. 29, while those held by commercial banks fell to $3.53 billion from $3.56 billion, said the SBP.

Analysts said the rise was due to a rise in remittances from overseas Pakistanis. According to official data, remittances rose 17 percent to $5.3 billion in the first six months of the fiscal year 2010/11 (July-June).

Pakistan’s foreign exchange reserves were boosted last month by more than $633 million from the US for providing military and logistical support to fight Islamist militancy.

In May, Pakistan received $1.13 billion – the fifth tranche of an $11 billion International Monetary Fund bailout programme.

Where to start your Online Forex Trading Business in Pakistan?

“Well Begun is Half Done” by Aristotle

A good begining to your Online Forex Trading business is extremely important for your career in this field which will certainly ensure a better future. It is just like building a solid foundation before you construct your main building. A good starting point in Forex trading business is to learn who are the key players in this market and what are the basic rules of trading.

There should be a solid reason why you should be learning online Forex trading and thinking about starting you own online Forex trading business.

Here, I would like to give you a brief overview of the Forex Market for those readers who missed out reading my first article. The Forex market also refferred as FX market (in short) and “The Foreign Exchange Market” (in full) was established in 1971 after the demise of fixed currency exchanges. As I have already explained in my previous article that Forex currency trading is conducted round the clock, 5 days a week and it is the largest market in the world.

The purpose of establishing a world-wide forex market is to facilitate the buying and selling of currency by not only large organizations, such as central governments, commercial companies and international commercial banks etc but small investors around the globe (even in Pakistan) can also invest in this huge market and make sufficient money online .

The interesting part about this market is that there is no set location, although there are major trading centers worldwide in a number of cities such as London, Frankfurt, New York and Tokyo but it is essentially an ‘over-the-counter’ market with the vast majority of trading being conducted by telephone and through the internet from every part of world. The proportion of online forex trading is increasing dramatically and it is empowering every small and medium-size investors to take part in online trading activities at their convenient timings.

The currency exchange playing a pivotal role in supporting global trade as the world has already become a global village. The major business revolves around the main currencies such as the US dollar (USD), the British pound (GBP), the Euro (EUR), the Japanes yen (JPY) and others. There is always some upward and downward movement of currencies which provide second by second opportunities to make money from currency exchanges.

The larger investors in the FX market take advantage of this by buying and selling in bulk deals which often run into many millions of dollars per trade. The medium sized investors are also very active in the FX Market and often trade in deals of as low as one hundred thousand dollars. And, by trading on the back on the smaller players, individuals can get into the market with a lot less than that amount!

You can also join this market as a small player as long as you are prepared to take the time to understand the fundamentals of currency markets and to learn the skills of Forex trading online. Only then, with a little bit of capital investment, it is possible to earn an excellent income from online currency trading in Pakistan or anywhere else for that matter.

In this forex market as a small player, you are not entitled to trade on your own and you will have to use the services of a Forex broker or an online forex company where you can open your account with a reasonable amount and start your online forex business.

The Forex market is a technical market and it does take time to understand the basic principles of the currency markets, to develop the necessary skills in the use of some of the ‘tools of the trade’ (like technical and fundamental analysis tools) and to learn Forex currency trading online.

Despite of some technical information, you do not have to be an expert in the currency markets to make money. As long as you take the time to learn the basics of FX trading and put in a bit of effort it is quite easy to gain enough of an understanding to begin making money through Foreign trading online.

Foreign currency trading provides an excellent opportunity for the small investor to make money but learning to trade Forex is essential before heading out into the market.

I’ll continue to share my experience here and you are open to ask any question via email or if you are interested to learn more about forex trading you can always contact me

Where to start your Online Forex Trading Business in Pakistan?

“Well Begun is Half Done” by Aristotle

A good begining to your Online Forex Trading business is extremely important for your career in this field which will certainly ensure a better future. It is just like building a solid foundation before you construct your main building. A good starting point in Forex trading business is to learn who are the key players in this market and what are the basic rules of trading.

There should be a solid reason why you should be learning online Forex trading and thinking about starting you own online Forex trading business.

Here, I would like to give you a brief overview of the Forex Market for those readers who missed out reading my first article. The Forex market also refferred as FX market (in short) and “The Foreign Exchange Market” (in full) was established in 1971 after the demise of fixed currency exchanges. As I have already explained in my previous article that Forex currency trading is conducted round the clock, 5 days a week and it is the largest market in the world.

The purpose of establishing a world-wide forex market is to facilitate the buying and selling of currency by not only large organizations, such as central governments, commercial companies and international commercial banks etc but small investors around the globe (even in Pakistan) can also invest in this huge market and make sufficient money online .

The interesting part about this market is that there is no set location, although there are major trading centers worldwide in a number of cities such as London, Frankfurt, New York and Tokyo but it is essentially an ‘over-the-counter’ market with the vast majority of trading being conducted by telephone and through the internet from every part of world. The proportion of online forex trading is increasing dramatically and it is empowering every small and medium-size investors to take part in online trading activities at their convenient timings.

The currency exchange playing a pivotal role in supporting global trade as the world has already become a global village. The major business revolves around the main currencies such as the US dollar (USD), the British pound (GBP), the Euro (EUR), the Japanes yen (JPY) and others. There is always some upward and downward movement of currencies which provide second by second opportunities to make money from currency exchanges.

The larger investors in the FX market take advantage of this by buying and selling in bulk deals which often run into many millions of dollars per trade. The medium sized investors are also very active in the FX Market and often trade in deals of as low as one hundred thousand dollars. And, by trading on the back on the smaller players, individuals can get into the market with a lot less than that amount!

You can also join this market as a small player as long as you are prepared to take the time to understand the fundamentals of currency markets and to learn the skills of Forex trading online. Only then, with a little bit of capital investment, it is possible to earn an excellent income from online currency trading in Pakistan or anywhere else for that matter.

In this forex market as a small player, you are not entitled to trade on your own and you will have to use the services of a Forex broker or an online forex company where you can open your account with a reasonable amount and start your online forex business.

The Forex market is a technical market and it does take time to understand the basic principles of the currency markets, to develop the necessary skills in the use of some of the ‘tools of the trade’ (like technical and fundamental analysis tools) and to learn Forex currency trading online.

Despite of some technical information, you do not have to be an expert in the currency markets to make money. As long as you take the time to learn the basics of FX trading and put in a bit of effort it is quite easy to gain enough of an understanding to begin making money through Foreign trading online.

Foreign currency trading provides an excellent opportunity for the small investor to make money but learning to trade Forex is essential before heading out into the market.

I’ll continue to share my experience here and you are open to ask any question via email or if you are interested to learn more about forex trading you can always contact me
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