TurboCharged Income

IvyBot Forex Expert Advisor (Robot)

As with most Meta-Trader 4 expert advisors, IvyBot claims to be a one-of-a-kind robot trader. The Ivy League graduates who developed the system certainly are claiming that. Anyone who is trading in the Forex would be happy to be able to turn $10,000 and $36,000 in three months, that is what the IvyBot claims to do. This is a very bold statement on the part of the developers, and if the statement is only half true anyone would be very happy with the product.

According to the data available from IvyBot these are very realistic claims. With minimal setup and directly out-of-the-box this expert advisor will make very nice returns on your money. If you are serious about getting into the forex I believe the IvyBot could be something that will work for you.

So what do you get when you buy the IvyBot robot? When I got my copy of the IvyBot I was surprised because most Meta- Trigger robots run all currencies on one robot with the IvyBot there were actually 4 different robots, one for each currency pair that the robot trades. Apparently the reason they operate Four separate robots is that each one is optimized for that specific pair. As most of us know if we’ve traded in the forex for any length of time each pair behaves in a unique and special way the IvyBot seems to take this into account, and impressed with that.

What else do you get with your IvyBot system? One important thing whether robot is continued support with the IvyBot to get a lifelong membership so any changes and updates to the IvyBot receives, you will receive. In our view this is a very important feature if you want to use the IvyBot in the long haul.

Overall I think the IvyBot is a good robot. Some people may perceive of 5% daily gain as insignificant, but this is incredible granted if you only have $500 in the market 5% will take a while to grow, but in order to be risk-averse trading at 5% daily increase is phenomenal. That is what IvyBot claims in my opinion if you can do one or 5% a month you can and will build wealth. The IvyBot seems to treat 2 to 6 times per week on average all automated. I would encourage cranking down the aggressiveness of the IvyBot to even less than a quarter percent per day until you can trade with house money.

As with all trading, and forex is no exception, there are risks. Do your due diligence always trading in a practice account until you are comfortable putting real money into the market and even then never put money into the market you cannot afford to risk.

Forex trading is becoming more popular as time goes by. Perhaps you have heard of forex trading, or heard things such as “the dollar fell sharply against the yen”. Not sure what all this means? Here is a basic overview of forex trading.

The foreign currency exchange market (forex) is the largest market in the world. Much larger than the stock market! Some of the reasons for its popularity are that leverage allows maximum usage for your money and there is very high liquidity. The forex market is also open 24 hours a day, although some hours are much better trading times than others.

Forex is traded on margin. This means that you can control a large amount of money for a small bit of cash. With a 1% margin, $1000 in cash would leverage you one hundred thousand in the forex market trading. What this basically means is that your rate of return (or ROI) is going to be 100% for each percentage change upwards. Of course, this means that your loss would be equally as great if the market went against you.

Forex trades are always done in pairs. You always purchase one currency at the same time as you sell another. While there are many pairs in the forex market, there are really four major currency pairs: USD/JPY, USD/GBP, GBP/USD and USD/CHF. These pairs see the most market activity.

When you work with forex trades, you do not pay a commission fee per trade, unlike the stock market. What you do pay is a spread. That is the difference between the asking rate and the bid rate of the currency pair. The spread is determined by the trading company you work with. The spread is how they make their money. Be careful in trading, as some brokers will increase the spread during big news breaks (such as non farm payroll announcements), or during off peak hours.

Since you are buying and selling currencies at the same time, it doesn’t matter whether the market is up or down. You can make money either way. For example, if the GBP/USD is going up, it means the pound is stronger than the dollar. If you think good economic news is coming for the dollar, you may want to sell the GBP/USD and buy USD/GBP.

Price quotes are based on pips – which is the smallest unit that a pair can trade at. It is the very last number on the right of a quote. For example if a currency bid is 1.0345 and the ask is 1.0347 – the difference is equal to 2 pips. This is the spread that was mentioned earlier.

There are two types of forex traders, those that are technical traders and those that are fundamental traders. Technical traders base their trades on a lot of different statistics and parameters. Viewing past patterns the currencies form will give a technical traders strategies on which pairs to buy or sell. Technical traders don’t necessarily take news into consideration and often don’t trade during big news breaks. Fundamental traders work only with news. They have a calendar marked with big market news days, such as job numbers, consumer confidence, retail sales, etc. They then plan their strategy to buy and sell based on what those numbers are predicted to be.

If you are interested in learning more about forex, there are many website with free training available, or you can purchase courses to learn. Take the opportunity to open a free ‘game’ account, such as at oanda.com – and practice trading whichever strategy you want to follow until it becomes second nature. This is a great tool before you actually put real money into the market!

How To Make Money From Forex Trends

There are dozens of ways to profit in the forex markets. Forex trends are a popular method of using the market to your benefit. An over simplified explanation is that you identify a market trend and jump on for the the ride.

When looking at forex charts it’s very easy to see the trends in hindsight, but the key is to identify them before they are completed so you can take advantage of them, and ride the trend to profit in your pocket.

With a pencil, you can draw a line on a chart above the low point of the candlestick shadows when the trend is upward. You will see the up sloping trend in doing this. The opposite would be true if you draw a line above the high points of the shadows to see a downward trending market.

Every once in a while there are also sideways or flat trends. This is when prices tend to trend a predictable band and don’t breakout. When these trends are in play the lines that you draw will be almost horizontal.

When there is a sideways trend, it’s good to be on the watch for a breakout of the current trend. Some smart traders set up orders to enter the market when the rate breaks out to a certain level.

Still other smart traders observe a sideways trend for a upward movement. This may indicate resistance that could be used to advantage. You could surmise that the upper trend line is some resistance and a rate decrees might be imminent.

Be cautious though. The forex market is not to be treated lightly. Whatever you do, test, test and test your system again and again. The nice thing about trading the forex is that there are software tools that allow you to back test your system. Then you can also trade in a demo account as further testing. When you are confident that you have the bugs worked out of your method then, you may trade in a live account.

Trend lines can be a very effective way to do technical analysis of a currency. I remember when I first started trading over a decade ago, I would print charts out by the dozen, and with my ruler and pen in hand draw trend lines. You can learn a lot doing just that.

Whatever you do, keep you emotions in check though. Resist the temptation to enter the market too early – before your decided upon entry point is presented. Also, be careful not to fool yourself. It can be easy to fudge a little bit and draw the trend lines to where you would like them to be. This will not change where the currencies rate will go, but it could determine where your money will go.

Candlestick Charts – Amazing Analysis Tool

There is a charting way developed by a 16th century Japanese commodities trader of some fame.  That is why many of the patterns in candlestick charting are called by Japanese names.  When you first look at candlestick charts they may look odd to you and you can see how there is much information that can be articulated in a small area, and that is one reason that they have become so well-liked.  There have been many books and papers written on using candlestick charting, and with good reason, it is a very strong tool.

Many of us have seen and used simple line charts, but if you want much more information, you may find that candlesticks will give you what you are looking for.  It is not self explanatory to read a candlestick chart.  As a matter of fact you will most likely need to do some diligent reading or learn how to use them effectively.   The data that can be conveyed efficiently in a candlestick chart is more than you can imagine, really.

Candlestick charts first made their way to the U.S. About 100 years ago and have since spread worldwide. The Dow-Jone Company, founder of the Wall Street Journal was instrumental in candlestick charting gaining wider acceptance.

Candlestick Formation

The candlestick indicator is made up of a fat body that resemble a stick candle with a wick like indicator on the top and bottom of the fatter part.  Each of the components is an indicator of some importance.  Of course, like other charting methods, the chart can be drawn in diverse time frames, such as 15 minute, 1 hour, day, week, month and year.

The top of the top wick is the highest price reached during the time period and the lowest point of the lower wick is the low. The top and bottom of the body or fat part are the opening and closing prices. If price rose during the period, the body will have a certain color.  The bottom of the body marks the opening price and its top marks the close. If the price fell during the period the prices are the other way around and to show this at a glance the body will be another color.

How Can You Use Candlestick Charts In Forex Trading?

Some like to use a 5 or 15 minute chart to view the market over a several hour period of time to indicate certain patterns, or see if a trend is developing.  As an example, if the body is white or green and higher than the candle before it, that may indicate that the the buyers are bullish on that currency.  On the other hand if the candle is black or read it could indicate that the buyers are bearish.

Since the markets are faster now that they ever have been, candlestick charting is a very useful tool in seeing market trends and indicators very fast.  With study and use you will find it to be a very useful tool in your trading arsenal.

How Do You Make Money In Currency Trading?

This question is being asked by investors and potential investors worldwide as they witness the multi-year downturn trend of the US dollar and upswings in other currencies such as the Euro or Canadian Dollar. Only since 1999 have US citizens been allowed to trade foreign currencies at a individual level while investors in other nations have done this for years.

Trading currencies takes place in the foreign exchange (forex) market and is the largest financial market in the world with a $3.2 trillion US dollar a day average turnover according to the Bank of International Settlement in April 2007. With the market open 24 hours a day 6 days a week, it offers more liquidity than the U.S. stock market or treasuries. And thanks to technology and the Internet, individual investors can take advantage of opportunities to earn profits at home, on the road or where ever they may be.

Currencies are traded in pairs such as the Japanese Yen/U.S. Dollar or Canadian Dollar/U.S. Dollar. Those that trade against the U.S. Dollar are most popular, with the U.S. dollar being represented in over 86% of forex trades. Among the top currencies that do so are the Australian Dollar (AUD), Japanese Yen (JPY), British Pound (GBP), Euro (EUR), Canadian Dollar (CAD) and the Swiss Franc (CHF). These particular currencies float freely in value and do fluctuate up and down. Many forces affect their value, such as the economic health of the nation(s) behind a money, interest rates, inflation, news in global stock markets, actions of central banks and so on.

For example, in 2007 major forces weighing on the U.S. dollar are the housing market slowdown and foreclosures, bad debt such as subprime mortgage defaults causing billions of dollars of losses to U.S. businesses, overall bad economic health in America, energy price increases in oil and interest rate cuts by the Federal Reserve. In another example, forces that are pushing the Australian dollar up are climbing commodity prices, a very strong economy, a low unemployment rate and high interest rates with more potential rate increases by the Reserve Bank of Australia in 2008. Fundamental reasons such as these or technical analysis using charts are what motivate investors to get in and out of the forex market, with the goal of making a profit.

Trading in currencies is tracked in movements called “pips”. A pip is the smallest unit of price for all currencies. For example in a EUR/USD (Euro/U.S. Dollar) pair, a purchase price quote of the Euro being 1.4821 to the US dollar, has the smallest unit of price four places to the right of the decimal point. Any change in the price from that position would be the reference point of profit or loss in a transaction. The USD portion of the pair is also known as the quote, which would make each pip movement worth 1/10000 of a US dollar. (There are 10,000 pips in one US dollar making a single pip worth $0.0001.) The EUR portion of the pair is known as the base. If you made a buy of 10,000 Euro base units at 1.4821 and sold at 1.4846, your transaction would have a movement of 25 pips, and your profit would be $25.00 US (10,000 units x .0025 pip movement = $25.00).

When orders are placed through a broker/dealer, they go to an interlinked connection of extremely large commercial banks that buy and sell foreign currencies. There is no centralized exchange or physical location for the foreign exchange market. The forex market, which used to be the domain of banks, now includes multinational corporations, global money managers, dealers, international brokers, futures and options traders and individual investors. Even the governments of nations get involved should intervention be required on their part to provide stabilization of currencies.

Part of becoming profitable in foreign exchange means taking time to do things to insure personal success. Positive steps include making the effort to learn about the forex market before trading, testing trading strategies with a demo account, not being highly leveraged and managing portfolio risk. Investors have made large sums of money in forex, but remember that money can be lost in foreign exchange and one should consider the amount of risk and potential loss involved before starting, and that such trading is not suitable for every person.

Understanding the Basics of Forex Trading: Currency Pairs

The foreign exchange market, or Forex (FX) for short, is said to be the oldest international trade market. It is also the largest of all trade markets. Analysts have estimated the average yearly trading volume on Forex to be over a trillion dollars. The Forex is not an exchange centralized in any one place, and trading on it takes place 24 hours a day and seven days a week without pause.

To trade on this market, you have to understand what is being traded. Forex trading deals with world currencies. A trader buys and sells currencies by exchanging one form of money for another, with the goal of making a profit from the transaction. The market quotations in Forex specify pairs of currencies. They are depicted by showing the base currency followed by a different currency, for example: USD/EUR or GBP/USD.

The most commonly traded Forex currency pairs are considered to be:

EUR/USD: Euro vs. U.S. Dollar

GBP/USD: British Pound vs. U.S. Dollar

USD/JPY: U.S. Dollar vs. Japanese Yen

USD/CHF: U.S. Dollar vs. Swiss Franc

Here’s how to interpret a typical Forex quotation. The currency that is shown first is generally known as the base currency, but it is known by other terms as well. It can be called the domestic currency or accounting currency or even be termed as the primary currency of a Forex currency pair. The currency that is shown in second place is called the counter or quote currency. The base currency is always equal to a single monetary unit of exchange (for example, 1 USD, 1 EUR, 1 GBP). This is generally implied and not shown. The quote currency is the amount of that currency that is able to purchase a single unit of the base currency. Forex currency pairs normally depict what is termed the “bid” and “ask” price. The bid price refers to the price at which the broker is willing to buy, while the ask price refers to the price at which the broker is willing to sell.

Let’s take a look at a sample quotation. Consider a USD/EUR currency pair that is quoted as USD/EUR = 1.8. If you purchase this currency pair, you will receive 1 USD for every 1.8 euros that you sell. If you sell this currency pair, you will earn 1.5 euros for every 1 USD that you sell.

Let Me Tell You A Little About Myself…

I grew up on a dairy farm in the Midwest, my family were very successful Brown Swiss Cattle breeders and we sold our breeding stock all over the world. When I was in high school I got up at in the morning to work at a local Cheese Factory before going to school all day. I was a very determined kid who had a drive to live life in a large way, to do and see all that I could. At 19, with only what I had in my car I moved 2000 miles to Lake Tahoe, California. I started apprenticing in the floor covering trade. That is when my eyes were opened to what true wealth could be, and do for a person. I saw, met and did work for wealthy and famous people.

forex

At that time, the dollar was very strong in Europe and I was able to import Belgian Wool carpet for very good price and make a tremendous amount of money, especially for a 22 year old kid. But there was something missing as far as building true wealth, you see I was generating income in the S quadrant and it was strictly a linear income. In other words when I wasn’t selling or installing flooring the money stopped. Oh, I tried to have some employees after a while, and boy was that a headache that I never want to revisit.

When I was 23 I met a person who was also my age, he also happened to come from the same area in the Midwest where I grew up. There was a difference though. This person had learned some skills that allowed him to make a great income in just a few minutes a day. My friend had an airplane, a sailboat in the Virgin Islands and all of the other toys that anyone in there early 20’s could want. He also had confided in me that if he and his wife were to spend money full time for the rest of their life, they would not run out. Let me tell you, that got my attention. Unfortunately, the technology was not available for the average guy to do what he was doing.

I always remembered that and kept my eyes open for the opportunity to do something similar. Since then technology has caught up to my desire. About 10 years ago I pursued the same type of income generating system that my friend had and haven’t looked back since. It just gets better every year.

About 2 years ago I had my interest piqued in a way to pursue this with incredible simplicity. The steep learning curve that I had a decade or more ago was gone. The average idiot could actually make this work (I consider myself to be a below average idiot, and I can still do it).

Now, at first when I saw these simplifications I was a little bit skeptical, after all I had to do some algebra, and do a fair amount of work. I wondered, “Could this really be this simple now?” Well, it was simpler and it is a winner. The results are nothing short of impressive, and I couldn’t be happier.

There are many ways to trade forex.  You can of course do it the old fashioned way, strictly by hand, entering and exiting trade manually.  I suppose there are some people doing that, and I suppose there are some people that are doing that successfully, but, to my mind that kinda defeats one of the advantages of forex trading.

You see with so many tools and systems available, much of your trading can be automated, or at least signaled by software algorythms.  This is a great advantage, since the main reason that someone fails in any trading environment is the emotion and judgement factor.  If you take emotion out of trading, your success is much more likely.

I invite you to spend as much time as you like here and see if any of the insights about trading ring true with you.  Then go out an make it happen for you.  trading currencies is a wonderfully fulfilling way to make significant income from the comfort of your home.  I am so glad that I opened my eyes to the possibility and I think you will be too.