Forex History | ForexGen

ForexGen customer satisfaction is our major objective. To reach our business goals, we strive to put our client's goals in focus. We highly value our clients and always aim to exceed their expectations and cross the limitations encountered by the sophistication of the Forex trading industry.

The Forex market, established in 1971, was created when floating exchange rates began to materialize. The Forex market is not centralized, like in currency futures or stock markets. Trading occurs over computers and telephones at thousands of locations worldwide.

The Foreign Exchange market, commonly referred as FOREX, is where banks, investors and speculators exchange one currency to another. The largest foreign exchange activity retains the spot exchange (i.e.., immediate) between five major currencies: US Dollar, British Pound, Japanese Yen, Eurodollar and the Swiss Franc. It is also the largest financial market in the world. In comparison, the US stock market may trade $10 billion in one day, whereas the Forex market will trade up to $2 trillion in one single day. The Forex market is an opened 24 hours a day market where the primary market for currencies is the 24-hour Interbank market. This market follows the sun around the world, moving from the major banking centres of the United States to Australia and New Zealand to the Far East, to Europe and finally back to the Unites States.

Until now, professional traders from major international commercial and investment banks have dominated the FX market. Other market participants range from large multinational corporations, global money managers, registered dealers, international money brokers, and futures and options traders, to private speculators.

There are three main reasons to participate in the FX market. One is to facilitate an actual transaction, whereby international corporations convert profits made in foreign currencies into their domestic currency. Corporate treasurers and money managers also enter the FX market in order to hedge against unwanted exposure to future price movements in the currency market. The third and more popular reason is speculation for profit. In fact, today it is estimated that less than 5% of all trading on the FX market is actually facilitating a true commercial transaction.

The FX market is considered an Over The Counter (OTC) or ‘Interbank’ market, due to the fact that transactions are conducted between two counterparts over the telephone or via an electronic network. Trading is not centralized on an exchange, as with the stock and futures markets. A true 24-hour market, Forex trading begins each day in Sydney, and moves around the globe as the business day begins in each financial center, first to Tokyo, London, and New York. Unlike any other financial market, investors can respond to currency fluctuations caused by economic, social and political events at the time they occur - day or night.

Why ForexGen?

1. Lowest spreads in the market with 0-1 pips in 10 pairs, no commissions, no swaps and instant account Activation.
2. Scandinavian quality with Swiss precision, funds secured and local agents in 18+ countries.
3. ForexGen offers Forex trading in the major currency pairs and crosses.
4. Low capital start, with $250 as a minimum account size.
5. Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.
6. ForexGen offers a free trial Forex demo account that allows you to test your skills and practice without risking real money.

Keeps Spreads Tight With ForexGen

ForexGen provides a unique online trading experience based on our intelligent online Forex trading package, the ForexGen Trading Station, including the best online trading system.

This gives you the driving force to enjoy the process. Most succesful traders have true love or

passion about their trading. Ok, they are in for the money, which is the end result, but also they

enjoy reading the charts, designing the trading system, pulling the trigger. What is the point of

being disciplined if you do not enjoy the process.

“ A man is only trully great, when he acts from the passions.” Passion is defined as having great

deal of emotion or feeling. So how do we get passion? The same way we get love & warmth, we

have to decide it and feel it. In the same way, you have to have love for trading. For example my

son says to me, ‘I don’t care how much money I make trading, but what is important is How can

I become greater than Warren Buffet’ , to him that is his driving force, his goal – By having

this passion built in your physiology, the target gets nearer.

Throughout our partnership with the industrial leaders, we are capable of delivering incomparable quality of online currency trading service.
ForexGen services are all controlled by the international banking and financial regulatory standards.
ForexGen is continuously providing the Forex market's safest trading terms & conditions. Providing professional currency trading services that meet our client's expectations is our first priority.

Tighter Forex Spreads With Forexgen

ForexGen.com is an online trading service provider supplying a unique and individualized service to Forex traders worldwide. We are dedicated to absolutely provide the best online trading services in the Forex market.

Trade on dealing spreads as low as 1-2 pips on the most widely traded currency pairs. As always, you pay no commissions at ForexGen, only the bid/offer spread. And with our fractional pips, you gain an extra digit of precision so that you can take advantage of smaller price movements.

Plus, you can enter orders at any price - even inside the spread - and trade around news events, major economic announcements and other times of high market volatility. For traders who prefer to trade in a fixed spreads environment, that option is also available.

By registering on ForexGen, you create your ForexGen profile and you can go ahead and open as
many Demo accounts , and Live accounts as you need. All accounts can be created online and
managed under your ForexGen profile. You can mix between Mini, Standard, Pro, Premium and
No Dealing Desk accounts in one Profile. Instant Approval.

Why ForexGen?

1. Lowest spreads in the market with 0-1 pips in 10 pairs, no commissions, no swaps and instant account Activation.
2. Scandinavian quality with Swiss precision, funds secured and local agents in 18+ countries.
3. ForexGen offers Forex trading in the major currency pairs and crosses.
4. Low capital start, with $250 as a minimum account size.
5. Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.
6. ForexGen offers a free trial Forex demo account that allows you to test your skills and practice without risking real money.

In my opinion, the most important negative mental attitudes or delusional emotions is anger. Anger

is an emotion that destroys more people, relationships and businesses than all the illness in the

world. People seem so angry all the time. Imagine what this does to the trading result. Smile and

the world smiles back at you, learn to be a happy person, this will do wonders for your bottom line.

It must be emphasised that to completely eliminate negative emotions from your mind is a

lengthy psychological process, requiring study, mindfulness, reflection and honest observation of

one’s mind.

To begin with meditation is an ideal way to try and conquer the negative mental attitudes, it will

not only give you insight into what anger is and what happens to oneself when feeling angry, but

it also has a calming effect, tends to relax your mind and body. I always start my day with

prayers and meditation.

If you are unable to control your mental state, then you simply cannot trade profitably. In my

opinion if this applies to you, then you must consider giving up trading until such time as you are

able to control your mental state. You should seek professional guidance in this matter, and

certainly there are few good quality Trader Coaches who specialise in such areas.

Free Forex Strategies and Systems | ForexGen

In this section I have tried to put together a group of FX Trading Strategies for you to try. Most of these free forex trading systems can be used on any size of trading account including micro, mini and standard.

Proven Forex Trading Strategies

They have been tried either by myself or by my trading friends and they have shown to be winning forex strategies. However, as with any forex trading strategy, excellent risk management must be used at all times.

ForexGen customer satisfaction is our major objective. To reach our business goals, we strive to put our client's goals in focus. We highly value our clients and always aim to exceed their expectations and cross the limitations encountered by the sophistication of the Forex trading industry.

Scalping Forex Strategy | ForexGen

There are many forex scalping techniques used when scalping the forex market. Some rely on indicators whilst others rely on support and resistance. One simple scalping strategy I have tried personally is marking major support and resistance points on my chart and putting a limit order at them and try to catch a few pips on the bounce. It’s important not to be greedy with this strategy and just get a quick scalp.

Throughout our partnership with the industrial leaders, we are capable of delivering incomparable quality of online currency trading service.
ForexGen services are all controlled by the international banking and financial regulatory standards.
ForexGen is continuously providing the Forex market's safest trading terms & conditions. Providing professional currency trading services that meet our client's expectations is our first priority.

Super-Low Spreads | ForexGen

The Lowest Spreads With ForexGen , Super-Low Spreads

There are many FX brokers out there nowadays, but many of them are unsuitable for scalping and charge high spreads , Some brokers do not like their clients to scalp the forex market, whilst others have too wide a spread for it to be profitable. One broker that does not seem to have any objections to scalping is ForexGen and their spreads about the lowest around Super-low Spreads. Some ECN Brokers may be suited for currency scalping, ECN brokers often have lower spreads, sometimes much lower, but there is often a commission fee to pay for each trade.

in ForexGen Super-low Spreads

ForexGen provides a unique online trading experience based on our intelligent online Forex trading package, the ForexGen Trading Station, including the best online tradin

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g system.

ForexGen Methodology

Trading Methodology

ForexGen Money management referred to, as “risk management” is absolutely critical to successful

day trading on an ongoing basis. Many traders regard it as the single most important aspect

of trading. Indeed lack of proper money management is a major cause of failure among new traders.

Money management covers the allocation of funds to your trading, i.e. how you will allocate funds

to your trades, size of the trades, and the makeup of your portfolio and how you will diversify

between different investment types. The entry and exit points, stop loss management, risk

reward ratio – if you apply that, or profit to trade and your trading style.

For money management in ForexGen rules to be profitable to the trader, in my opinion entry as well as exit

levels are both important. Most so called gurus tend to put lot of stress on the exit (stops), which

I agree, but have to add that exit would be totally meaningless if the entry itself was not at a

right level. At a Trading seminar I went to some years ago, I recollect a “Trading Guru” telling

his audience – “ it is not entry which is important – it is exit” – I choose to differ. If the entry

price was not the best price, then you will have a quick exit, when your position is stopped out¬

Money management becomes key, after you have pulled the trigger, based on the entry price

which would be according to your trading system (this is covered separately under trading system

and entry methodology)

ForexGen.com is an online trading service provider supplying a unique and individualized service to Forex traders worldwide. We are dedicated to absolutely provide the best online trading services in the Forex market.

What Are The Best Currencies To Trade?| ForexGen Tips

When you”re first starting out it can be fairly difficult to decide which currencies are the best

ones to trade. Do you watch all of them or only concentrate on one or two?

Well in truth there’’s no right and wrong answer. If you have a rigid trading system which produces

consistent profits whatever the currency pair, then you may want to open a window for each pair,

ideally on a multiple monitor set-up, so you can watch for your entry criteria to be met for any of

these pairs.

So for example, let’’s say your trading criteria is a MACD crossover, a Supertrend change of colour,

and RSI in overbought/oversold territory.

In this instance, you would simply create graphs containing this data for every major currency pair,

and wait for a suitable entry for any of them.

That’’s one approach. Another approach, and one favoured by myself, is to only concentrate on the

major pairs. This is because they are the most traded, and therefore charting patterns and technical

indicators are generally more reliable and tradeable.

Another reason why I take this approach is because these pairs have the tightest spreads. This is

extremely important because you really don”t want to be trading pairs that have wide spreads simply

because it limits your profits more and puts added pressure on you to make correct calls.

Over time these wider spreads can really eat into your profits, so I generally stick to three of the

four major currency pairs - GBP/USD, EUR/USD and USD/JPY (USD/CHF is the other but that has a spread

of 4 points with the broker I use).

I can easily watch these three pairs at once and watch for any entry points, but if you”re just

starting out, another approach could be to just concentrate on one pair. You will find that although

most pairs follow technical indicators very well, each pair has it’’s own personality and so by

concentrating on just one pair, and learning how it behaves, you may find this is the most profitable

approach to take.

Another factor is your location and the time at which you are available to trade. For example, the

GBP/USD is most active between around 8.00 GMT and 20.00 GMT, so if you”re based in Australia, for

example, you would miss most of the action if you wanted to trade in the daytime where you are.

So to conclude, there aren”t really any best currencies to trade, each pair is potentially very

profitable. However, the major pairs generally have the tightest spreads and are the most actively

traded, and generally conform very well to technical analysis, so these are the currencies I would

recommend trading.
# Lowest spreads in the market with 0-1 pips in 10 pairs, no commissions, no swaps and instant

account Activation.
# Scandinavian quality with Swiss precision, funds secured and local agents in 18+ countries.
# ForexGen offers Forex trading in the major currency pairs and crosses.
# Low capital start, with $250 as a minimum account size.
# Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with

other financial markets.
# ForexGen offers a free trial Forex demo account that allows you to test your skills and practice

without risking real money.

The Secret Formula To Picking A Million Dollar Forex Trading Strategies|ForexGen Tips

All successful traders have forex trading strategies that they follow to make profitable trades.

These forex trading strategies are generally based on a strategy that allows them to find good

trades. And the strategy is based on some form of market analysis. Successful traders need some way

to interpret and even predict the movements of the market.

There are two basic approaches to analysing market movements, in both equity markets and the forex

market. These are technical analysis and fundamental analysis. However, technical analysis is much

more likely to be used by traders. Still, it’’s good to have an understanding of both types of

analysis, so that you can decide which type would work best for your forex trading strategies.

In fundamental analysis, you are basically valuing either a business, for equity markets, or a

country, for forex. If you think it’’s hard enough to value one company, you should try valuing a

whole country. It can be quite difficult to do, but there are indicators that can be studied to give

insight into how the country works. A few indicators you might want to study are: Non farm payrolls,

Purchasing Managers Index, also known as PMI, Consumer Price Index, also known as CPI, Retail Sales,

and Durable Goods.

Most traders in the forex market only use fundamental analysis to predict long term trends. However,

some traders do forex trading strategies that trade short term on the reactions to different news

releases. There are also quite a variety of meetings where you can get quotes and commentary that can

affect markets just as much as any news release or indicator report. These meetings are often

discussing interest rates, inflation, and other issues that have the ability to affect currency

values.

Even changes in how things are worded in statements addressing these types of issues, such as the

Federal Reserve chairman’’s comments on interest rates, can cause volatility in the market. Two

important meetings that you should watch for are the Federal Open Market Committee and the Humphrey

Hawkins Hearings.

Just by reading the reports and examining the commentary, forex trading strategies in fundamental

analyst can get a better understanding of most long term market trends. Keeping up on these

developments will also allow short term traders to profit from extraordinary happenings. If you do

decide to follow forex trading strategies in fundamental analyst, you want to keep an economic

calendar handy at all times so you know when these reports are released. Your broker may also be able

to provide you with real time access to this kind of information.

Just like their counterparts in the equity markets, technical analysts in the forex market analyze

price trends. The only real difference between technical analysis in forex and technical analysis in

equities is the time frame. forex markets are open 24 hours a day.

Because of this, some forms of technical analysis that factor in time have to be modified so that

they can work in the 24 hour forex market. Some of the most common forms of technical analysis used

in forex are: Elliott Waves, Fibonacci studies, Parabolic SAR, and Pivot points.

Many forex trading strategies in technical analysts combine technical indicators to make more

accurate predictions. The most common tendency is to combine Fibonacci studies with Elliott Waves.

Others prefer to create entire trading systems in an effort to repeatedly locate similar buying and

selling conditions.

Whichever form of forex trading strategies in any kind of analysis you choose, it’’s best to make

sure you learn as much as possible about it and your market. Then you will be able to use you

knowledge to create a trading system that will suit your needs, and help you to become a profitable

trader in the forex market.
ForexGen is complying with all applicable international laws and all financial regulations and

procedures governing its industry in order to sustain the security standards in the financial

services world.

Do You Make These Simple Mistakes By Not Picking One Market? | ForexGen Tips

Many traders are overwhelmed by the size and intricacy of the FOREX market, and yet a knowledgeable

trader has the potential to realize profits in this market that is unmatched by any other. There are

a number of aspects of the FOREX market that set it apart from any other market that give it this

potential.

First off, FOREX is a 24-hour market. You don`t need to wait for the opening bell here. Anytime a

trader wants to take advantage of positive market conditions, they can. This 24 hour timeline of

FOREX also means there is very little of the gaping that can occur in other exchanges. Trends, and

trading, progress more smoothly. The FOREX market is also the most liquid market in the world. That

means that a trader can enter or exit the market whenever they want, and there is little chance of

being caught in a position you can`t exit.

Another aspect of the FOREX market that creates a favourable trading environment is its high

leverage. Leverage ratios of up to 400 are normal in this market, compared to a leverage ratio of 2

(50% margin requirement) in the equity markets. Of course, this also increases the potential downside

of FOREX trading, something which should always been taken into account when considering a trade. To

offset this there is the FOREX`s low transaction cost. The retail transaction cost (the bid/ask

spread) is actually less than 0.1% (10 pips) under normal market conditions. At larger dealers, the

spread could even be less than 5 pips.

Also consider that at FOREX it`s always a bull market. A trade in the FOREX market means selling or

buying one currency against another. In essence, a bull market or a bear market for a currency is

defined in terms of its outlook for value against other currencies. If the outlook is positive, you

get a bull market for that currency, where a trader profits by buying the first currency against

other currency. However, if the outlook is negative, you have a bull market for other currencies and

the trader profits in the other direction. Whatever way you look at it, there is always a bull market

trading opportunity somewhere.

The FOREX market is so large and has so many participants that no single trader, even a central bank,

can control the market price for an extended period of time. Even when the central banks of large

countries try to intervene in the market, they find that their efforts have little effect on market

prices. What they do have is short-lived. FOREX is so large and liquid that no one can corner the

market.

Just as no one can corner the market, no one can regulate it either. The daily operations of retail

FOREX brokerages are not regulated under any laws or regulations specific to the FOREX market. In

fact, many of these types of establishments in the United States do not even report to the Internal

Revenue Service, though they are regulated under the banking laws of their respective countries.

However, the currency futures and options that are actually traded on exchanges like Chicago

Mercantile Exchange (CME) are under the regulation in the same manner that other exchange-traded

derivatives are regulated.

These characteristics combine to create a market environment that always has a good trading

opportunity somewhere, at any time of the day. It gives us a market that is remarkable liquid, with

high margins and low fees, and it is a market that has very little governmental intervention of any

kind. By this time, it should be clear to you that it is worth investing your time and energy to get

to know the FOREX, so that you can take advantage of this highly profitable market.
ForexGen serves both private and institutional clients. We have a strong commitment to maintain a

long term relationship with our clients.

Unbreakable Forex Trading Rules Guaranteed To Increase Profits|With ForexGen

There are a few important forex trading rules in trading that should never be broken. If you apply

these rules consistently, and with discipline, you will become a profitable trader. Many traders have

learned a diplomatic code of conduct that have been learned the hard way by many traders, through

trial and error, and by making the inevitable mistakes that everyone makes when they start a trading

business. I”ve gone over a couple of these codes of conduct in this article. Learn from them now, so

you won”t have to relearn them later.

As a trader one of the first forex trading rules is this, you need to know what you are trying to

achieve. Without specific forex trading rules in place like goals and objectives, it’’s difficult to

succeed at any enterprise. It amazes me how often we can hit our targets, meet our objectives, and

reach our goals, when we”ve taken the time to write down what we want to achieve.

One of the second forex trading rules is that you need to have measurable, achievable goals. In

trading, the primary objective is obviously to make money, but it is important to have other

objectives that are not strictly cash related. Remember, reward and risk go hand in hand when you are

trading. You can”t achieve high returns without planning and bracing for high risks.

Your objectives and goals have to fit you if they are going to work, but they should also have the

following characteristics to be useful. First, your forex trading rules need to be measurable. If you

can”t measure your results against your goals, how will you ever know if you”ve achieved them?

Secondly your forex trading rules need to be realistic and achievable. Make sure they are worth the

time and effort you are going to put into them. Lastly, these should be positive goals. It’’s easier

to be successful when you are trying to do something, rather than to not do it.

If you know what you are trying to gain in your trading, and when you are trying to achieve it, the

whole of your efforts will be focused on meeting your objectives. It focuses your attention on the

things you really want to achieve with the time and resources that you have available. Having goals

will also give you a way to effectively measure the success and progress of your trading strategy.

It’’s pretty clear why traders who have well defined objectives are more successful than those that

do not.

Once you have set measurable, achievable goals in your forex trading rules, you need a way to meet

them. Successful traders that have good forex trading rules in place do this by being consistent and

disciplined in their approach to trading. How do they make their approach consistent? By developing

and following a carefully planned trading system. This is a system tailored to their trading style,

as their goals are tailored to their preferences. Once you have your system in place, you need to

follow it. The system will tell you when to enter a trade, where to set your stops, and when to exit.

A good trader follows their system and does what it tells them to.

One of the third set of skills you need in your forex trading rules is that you need to be confident

in your system, to have access to the right kind of technology and information, and to have the

discipline to stick to your plan. Without a plan you will be trading on impulse, guided by emotions.

There is no more reliable way to loose trades than by trading that way.

With a trading system you are prepared for every situation you may face in your trading. This ensures

you”ll be consistent in your trading no matter what happens. To make sure you cover everything, your

system should have:

1. You guidelines for entering, adding to, and getting out of your positions.

2. You need guidelines that have an action plan in case your trading computer, internet connection,

broker, power, telephone etc. break down, or fails to be of any real use.

3. You need a code of conduct that will tell you what you will do if you are unable to trade.

4. You need a standard procedure that will tell you what you will do if you lose a certain percentage

of your account

5. You need formalities that will tell you what you will do if all the markets are closed and you

can”t get out of your current positions.

Unless you have answers for all these scenarios that you need in your forex trading rules, you stand

a good chance of loosing money. With the answers, and discipline you”ll be able to tell if you

trading system needs to be tweaked, or if it’’s just the markets. You will be well on your way to

becoming a successful trader.

ForexGen Analysis of GBP / New Zealand Dollar

Currency - GBP / New Zealand Dollar

ForexGen provides its clients with a full explained market analysis, fundamental or technical. ForexGen news centre could be your guide in making your calculations and forecasts for the coming period, and helps in analyzing fundamentals.

The Reserve Bank of New Zealand (RBNZ) surprised everyone by cutting the cost of lending in New Zealand by 50 basis points rather than the 25 bp that most analysts had forecast. They claimed that this did not alter their expectation of the depth of their interest rate cutting but that they were cutting early to avoid larger cuts later on. As I mentioned yesterday, this was perhaps the only scenario in which the NZ Dollar might weaken after their decision and we started today with the Sterling - NZ Dollar exchange rate a full 8 cents higher than the middle of yesterday’s trade. Those of you who took the opportunity to place automated orders overnight did rather well out of this surprise verdict. You’ll spot them in the street as the ones grinning in a smug kind of way.

Whether the RBNZ is right to cut as aggressively as they did is open to debate and whether they will manage to slow and reverse the economic slowdown sufficiently with just a few additional small cuts is anyone’s guess at this stage but you have to admire their determination to do the right thing. Perhaps Bank of England Governor, Mervyn King will take note. My mortgage says he should but he probably won’t. In the short term, the Pound is likely to slide back after this knee jerk reaction but if we see further signs of a NZ slowdown and therefore more chance of further and perhaps deeper than expected interest rate cuts, then we may well see a test of the NZ$2.75 level. Place your market orders now.

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ForexGen | Candlestick Patterns & Reversal Patterns

What do Candlesticks look like?

Candlestick charts are much more visually appealing than a standard two-dimensional bar chart.

As in a standard bar chart, there are four elements necessary to construct a candlestick chart, the OPEN, HIGH, LOW and CLOSING price for a given time period.

The body of the candlestick is called the real body, and represents the range between the open and closing prices.

A black or filled-in body represents that the close during that time period was lower than the open, (normally considered bearish) and when the body is open or white, that means the close was higher than the open (normally bullish).

The thin vertical line above and/or below the real body is called the upper/lower shadow, representing the high/low price extremes for the period (one period of time measures the duration of selling or buying within the market).