Currency Trader

September 8th, 2009

Forex-trader, producer, promoter, PR-manager, speechwriter are the termes signifying the types of activity or professions, that introduced new ideas in our life during the last 15 – 20 years. We heard about many of them, instinctively felt that such types of activity can exist, about others we have known at first. For example, I doubt whether somebody knew who are forex traders in the USSR times. Perhaps, nobody or just few people did, because you could be deportated for so called “curency operations”. Nowadays it is the prestigious, respected and interesting profession, allowing earn good money and feel yourself maximally independent.

The content of the trader’s job in general is the trading of securities: safety stock, loan securities, futures, options and so on. The curency trader’s job lies in a trading of “valuable stocks” – the currency which can be issued only by the goverment. Forex trader works at the particularized international currency market Forex, trading sessions at which are held 24 hours a day, 5 days a week. The essense of the trader’s job is making profit from rate exchange fluctuations. He/she can either buy one currency, for example US dollar at the lowest course, then sell it at the highest course, or make it inside out, that is to sell the currency at the highest course and buy it when the course is decreased.

On the one hand, all happenning at the internstional foreign exchange market is simple. Rates of exchange (eur/usd, eur/gbp, usd/jen) can move just in two directions – up and down. But to guess a trend of the movement is whole science and skill. And if you mistake, you will punished immidiately – you can loss all funds at you deposited and these can be the whole fortune. At that this money could belong to other people. That is why playful moods of people attended at the market in some way are possible, but decisive significance is belong to the activities of the professionals. While taking a decision about market operations, this kind of people bases on their skills, experience and, certainly, special psychological qualities, without which any diploma, even Harvard Diploma, is just clean paper to be hanged on the wall instead of drawing.

Any formal knowledge about currency trading is relative enough. Trading education, of course, increases competence, insure against the row of the evident mistakes, but does not guarantee anything special. Moreover, currency market is served by lots of analytical agencies, giving daily forecasts about “where the trend will go” – today, tomorrow or in the foreseeable future. They do this work on basis of so called fundamental and technical researches, which let to look at the market from macroeconomic positions and from the point of view of the market prices movement, supposing that market has already taken into account everything by itself. So, Forex forecasts of these agencies also do not guarantee much. And they can allow a bug, which can force a trader leave the market one day after being kicked.

Professional trader differs from amateur in that he does not toy with market, but play, in other words, works for winning. That’s is why being inclined to risk, he nevertheless needs to control his actions and make them (open position, close position, set stops) in the basis of rational decisions, deep enough research and understanding of the market. For getting stable profit he/she should have a well though-out system of regulations of behaving at the market. Overincomes are lot of either dilettante who is lucky today and is not tomorrow, or professional of the high level, deeply understanding the market and even having possibilities to influence on it. However, for the overwhelming majority working at Forex there is no any ability to affect the market, and they can earn only when they reckon on fitting into an intense trend appeared at rate exchange and guessed by them. Such is the trading psychology, that trader’s mastery also concludes in his/her indifferent relation to the market. There are no places at Forex for heat, emotions concerning the winnings or defeats, “blind” opening positions, relying on luck. Forex is not a casino and you should work at it with clear mind, nerves of steel and fast hands.

Article was added by Svetlana Milyushko,

News editor of  InstaForex

The facts about ForexPeaceArmy: the truth!

September 4th, 2009

Nowadays most traders after facing a problem with their brokers turn for help at the wellknown Internet-community ForexPeaceArmy. This project claim themselves defenders of traders’ rights. They create illusion that they fight with scam at the arena of Forex-market. But what do we have in reality?

The so called “fighters for the justice” are nothing more than fraudulent hacker project! Can you find any real name of the project members? Or have you ever seen any real contact of them? No doubt, you can not give positive answers to these questions. Because FPA does not provide traders with contacts except e-mail. ForexPeaceArmy is ABSOLUTELY ANONYMOUS project hiding behind forum nicknames and self-confident accusations in address of brokers.

They earn lots of money by advertisement, which is sold due to the popularity of resource, which in its turn is gained due to BLACKMAIL. In that way the vicious circle of this project shows the common structure of its business.

At the given moment, we hold the following information about the founder of ForexPeaceArmy: he is a fraud, earlier he had a pen name Dmitriy Chavkerov, alias Felix Homogratus (nick name “Forex Bastard”). In the Internet there is information that this person is looking for easy gain by means of two lines:
1) blackmailing of respectable Brokers;
2) sale of unprofessional signals.

FPA is blackmailer and the whole world knows that. Search the Internet to have an idea of the character of their activity:
Forex Peace Army link 1
Forex Peace Army link 2
Forex Peace Army link 3
Forex Peace Army link 4
Forex Peace Army link 5
Forex Peace Army link 6
Forex Peace Army link 7

Since swindlers from ForexPeaceArmy directed their activity against InstaForex, having started blackmailing, we officially appeal to everybody, who has any information about these anonymous frauds thoroughly hiding their location, contact our fraud control department by e-mail fraud-control@instaforex.com

It is your choice who you should trust to. But we kindly ask you to weight the information above and make right conclusions. Please, DO NOT LET SWINDLE YOURSELF! BEWARE OF FRAUDS!

Andrey West and NyFxTrade

We have discovered NyFxTrade, claiming themselves as educational forex project and selling signals, is directly relevant to the hacker anonymous project ForexPeaceArmy.The founder of NyFxTrade known as Andrey West also sales doubtful signals and blackmails Forex brokers in the Internet communities. One and a half month ago he started his attack upon InstaForex, spreading blacking materials (but of course invented) at different forums. When we contacted this person by e-mail and asked to name the reason of his activity against our company, he replied nothing, but groundless accusations and threats. When we tried to get in touch with him by Skype, he blocked our account, because he is scared of coming to close quarters with us and because all he’s doing is just SHAMELESS SLANDER. All his messages at forums and blogs touch just InstaForex, but actually he has never ever opened even an account with us!All this testifies Andrey West is hired by ForexPeaceArmy for blacking InstaForex reputation and blackmailing the company.We rely on your help in finding any information about Andrey West and his fraudulent project NyFxTrade.

Fear and greediness on Forex

July 14th, 2009

InstaForex Company warns all traders that work at Forex currency market is not only highprofitable, but also highrisky business. Therefore, we advice every participant of the exchange market to follow the definite psychological canons. If you adhere to them or at least remember them, you will able distinctly decrease risk constituent that will have an affect on your work efficiency.

All emotions inherent in us – fear, greed, hope and etc. – in a fast rhythm of stock trading exert the determinative influence upon trader’s behavior. Weak and self-confident, avid and sluggish – all these people are doomed to become victims of the market. Awareness of your own capabilities and preferences, positive and negative qualities can help you to avoid bankruptcy. If you add to this faculty for appropriate appreciation of mental state and suitable behavior of market crowd, the success is guaranteed to you.

The driving force, which makes us work at speculative financial markets, is greed. If your greed is minor, you will not make a lot of deals, losing many good moments. In this case it is recommended to find another occupation that is more composed. If your greed passes all bounds, you will try hard to make as many bargains as possible, exposing yourself to the risk of unclear outlooks. You should better play in casino; it will be congenial for your nature and cheaper for your wallet. The result of avidity’s action will be motivation to the bargaining.

Revealing of are you playing or not under pressure of the greedy vehemence is possible with the help of the following signals. If a trader asks others: “What do you think about this?” If he tells others about his opened positions. If the trader does not have a plan of work, which is made before bargaining, – all this shows that the trader works most probably under pressure of the vehemence, not the mind. The best vehemence drug is making a plan of deals arranging (the financial activity plan).

Next factor advancing the trader to conclude deals a hope for making profit. Of course, activity goal is to earn money. But when the hope dominates under the calculation, you risk to overestimate your own abilities in the situation analysis and make out a mountain (your dream) of a molehill (the reality). The hope should be under the calculation and greed.

The fear appears when you get losses. Some are paralyzed by fear and they can not stop on time and lose everything. Others are forced by the fear to move and sometimes arrange interlocking deals that usually just quicken bankruptcy.

In the critical moment it is better to do something than let the grass grow under your feet and watch how beautiful dreams vanish with the quotations changing. At the same time oppose convulsive actions of a nervous choleric subject to reasonable and systematic steps for overcoming the crisis. Operate right according to the plan made by you before the position opening (accordingly before the fear emerges).

Some traders’ mistakes are unordinary at all. They are based on mental state of the bug. Often a trader, who got a great profit for the certain time frame, leans that all his trades during the passed time period was made at the DEMO-account. The given mistake can also be related to initial fear of real operating.

The article was added by Dmitriy Golynskiy, Clients’
relationship manager of InstaForex

Lucky trader shares the secret of his success

July 13th, 2009

It is an open secret that people of different professions can be successful. We can find lucky steel founders, lucky programmers or even lucky waiters, who gets gratuity exceeding their official salary scale. But success does not make as much profit in any profession, as in trading. Particularly, in the currency market Forex. Admittedly, it wouldn’t be correct to talk just about the naked success. As in other fields, good fortune in trading exists hand-in-hand with such qualities as professionalism, experience and mastery.

We would like to call your attention to the interview with one of undoubtedly successful traders – Hamidi Akazari from Egypt.

IFX: What does help you to achieve such amazing success in trading?
HA: Certainly, I can not give you the unambiguous answer. Or course, I would like to say, that positive trading at Forex is the service of my experience and skills. But it will not be the absolute truth. The high profile in trades belongs to a broker (or dealing center). Namely, the service quality, trading conditions and efficiency in the deals’ execution. Right about orders execution speed I would like to mention. For a long period I am InstaForex client and I can say that execution of all my in the work with any trading instrument is instant. Just at the cost of this I can use my trading style as well as different trading strategies in the first-rate fashion. What about successful criterion, assuredly it is the profitability of trade expressed in per-cents. At the current moment it averages 8-10 % and that is not bad showing. Also the very important success criterion is the stability of trade with positive result.

IFX: How long do you work with InstaForex and did you meet any problem trading with the company?
HA: A year sharp. Before this I worked with some brokers. I think every trader worked not with one dealing center during his/her career. In spite of the market density and the number of offers, experienced trader will easily distinguish one broker from another. Every company has its trading conditions, client servicing style and additional facilities. Work with InstaForex absolutely satisfies me. Among instant execution the company provides the attractive trading conditions, more than professional support, and above all accuracy and timeliness in depositing and withdrawing funds to or from trading account. I never had problems with withdrawal. And even if I had any troubles, they happened through the fault of the e-payment system, as many others attacked by DDOS-hackers. What about InstaForex, some months ago I came into collision with temporary disconnection of the company’s trading server. But again after introduction of the second server in this spring the given problems have gone completely.

IFX: Do you have your favorite support specialist in InstaForex Company?
HA: Yes, I do. It is Alaa Nabil Hanafy. He is also from Egypt. I see the great advantage of InstaForex in this. I am talking about multilanguage support availability. For example, I speak English perfectly, but all the same I prefer talking to support in Arabic. It is all right. And the fact that almost every client of the company can find the support specialist talking his native language is wonderful!

IFX: Thank you for your time and for answering our questions. We wish you good luck in your future trading!

The interview was obtained by Darika Isakova,
interpreter-translator of InstaForex

InstaForex online

July 12th, 2009

Dear customers and all interested in trading with InstaForex,

We invite you to join our growing community and start discussing at the official forum of the company, placed at the following link. Recent news, immediate support and sharing trader’s experience is what is waiting for you at the pages of our new resource.

Start your topic at forum.instaforex.com right now!

Added by Ekaterina Pobedinskaya,
clients´ Chief Manager of InstaForex