One of the major advantages of the forex robots is that they work until they are turned off. That is if one is sleeping or busy doing some other important work he can put the forex robot on work and be free for that work.
The buyer of a forex call option wants the price of the chosen currency pair to rise in the future; the seller either expects that it will not, or is willing to give up some of the upside (profit) from a price rise in return for the premium (paid immediately) and retaining the opportunity to make a gain up to the strike price.
So in a nutshell, it's actually quite safe and very convenient to trade Forex online. It's one of best investment vehicles out there, whether you're after capital gains or extra income because of the greater potential returns. As we all know, the only obstacle in trading is ourselves and getting ourselves to take action is the first step. Usually the best way to start is either paper trading or putting up a few hundred dollars to test the waters.
The most fundamental term is PIP. Most XYZ brokers charge around 3 PIP per deal. Each currency pair has an average daily range of 100 PIP. We all know that the PIP has a variable value that differs with each currency pair. But are you aware that each PIP value also varies with base currency and gearing on your account?
The best way to trade Forex online without risk is by "hedging" a trade with a put option. A put option is a form of insurance where it protects you in the case where the price falls unexpectedly. This is why it's important to get a Forex broker that allows options on Forex trades. The process is simple and requires basic three steps. Firstly, find a currency pair that has been either oversold or overbought. Next, go into the trade and then purchase a put option. The put option should be the same amount value as the actual Forex trade and the strike price should be exactly the same as the open price. This essentially eliminates any potential risk to your trade as it covers you whether the price goes up or down. The only risk is the cost of the insurance. I recommend buying a put option that lasts at least 6 months. Keep in mind, this is method only works for you're doing mid-to-long term trading and not day trading.
A great time to trade is the first 3-5 hours of each opening session mentioned above, especially when your fundamental analysis points on new economic releases. However, the best time to trade is between 3 AM and 11 AM.
There are a number of fatal errors that are made by novice traders and here we will outline a few of the most common ones, that see novice traders lose all their money quickly.