Forex Tips and Advice

Learning all you can about bitcoin is an important endeavor before you get started mining for it, using it, or buying it. Without knowledge, you’ll be more likely to fall for a scam or make mistakes due to misunderstanding. Keep learning about this important programmable currency so that you can succeed.

Are Bitcoins Legal?

Because bitcoin has never been made illegal, and more and more businesses are taking bitcoin, it’s considered a legal currency. Because of that, you should be careful not to use it for illegal activities that may end up causing regulation.

What Happens If You Lose Your Wallet?

Losing your wallet means you’ve lost your bitcoins forever. You could lose a lot of money if you do this. There is no recovery and no entity to help you if this happens. Guard your bitcoins carefully.

Do New Bitcoins Get Created?

Every 10 minutes, a new block of coins is solved. At that time a block reward is determined that states the worth of the block. This is the only way that new bitcoins are created. This takes a lot of electricity which is a factor in the value of the bitcoins.

Are Bitcoins Secure?

Some people worry about the security of bitcoin, but the truth is it’s very secure. The important part is to use trusted software, only work with people you trust, and not trust just anyone on the net. That’s why there is a system in place to prove the work.

Is Bitcoin Data Traceable?

The block chain technology is transparent and makes bitcoins very traceable. Block chain acts as a public ledger for every single financial traction on the bitcoin network. However, everyone uses a pseudonym during transactions, and your wallet key is secret and should be known only to you.

Can You Get a Refund from a Bitcoin Transaction?

There is no refund system. Therefore, you can’t get a refund if you accidentally send the wrong amount of money in a bitcoin transaction. Check your math and check your numbers before you complete any transaction.

Who Can You Pay with Bitcoins?

Some schools around the world are taking bitcoin for tuition payments. Schools like Simon Fraser University in Vancouver, Canada, and Mexico’s Universidad de las Americas Puebla and others are taking bitcoin.

Even companies like Dell are taking bitcoin. You can actually pay in bitcoin to over 300K stores and companies around the world.

Do Bitcoins Use Energy?

Using bitcoin takes more energy than a credit card by almost 400 times. That’s a lot of energy and factors into the worth of the bitcoins.

An interesting fact about bitcoin is that Finland exempts bitcoin from value added tax (CAT). This is a tax that is added to goods and services automatically in some countries. Finland has exempted bitcoin from VAT because it is considered a commodity.

Bitcoin is complicated, to say the least. Hopefully, these facts help you think about bitcoin in a new way. The more you learn about bitcoin, the less likely you are to fall prey to a scam and the more likely you are to use it wisely. You can find out a lot about bitcoin from various websites. Try Bitcoin.org, bitcoinmining.com, and Blockgeeks.com.

Let’s talk a bit about bitcoins so that you can ensure that you know what you’re getting into before you start trying to use or buy bitcoins for your transactions. Bitcoins can be quite confusing, so ensure that you truly understand everything before you move forward. Here are eight facts to consider.

1. Bitcoin Is Programmable Money – To have programmable money, you need to have normal money. Normal money today is not backed by anything at all other than someone said it’s worth what it is. For example, a $100 US dollar bill is only worth that amount because someone assigned that amount to that paper. With bitcoin, the value is determined by the buyer and the payer, and the bitcoin is created when both agree terms have been met and the so-called miner verifies the transaction.
2. Bitcoin Is Created Via Mining – Miners use software that finds keys that open wallets or padlocks. Basically, they are transactions that are happening between people, and the miner certifies the transaction.
3. Bitcoin Has Real Value – Bitcoin isn’t fake money. It has real value. The value is determined by the users, both buyers and payers, not an outside entity. There is a protocol that has to be followed and is impossible to change.
4. Bitcoin Lets You Pay Locally and Globally – You can pay in more places than you may think with bitcoin. You can even use bitcoin online at sites like Overstock.com. You may be surprised that some of your local stores are taking bitcoin. You only need to ask.
5. No One Has Control Over Bitcoin – Bitcoin isn’t run by any person or government entity. There are rules, but the users are the only ones to enforce them. As of now, there are over 16 million bitcoins in circulation.
6. Bitcoin, Unlike the Dollar, Is Limited – There are only 21 million bitcoins and no more will ever be created. The value can go up or down, but there will never be more. This is unlike the American dollar, which the government can choose to print more at any time.
7. You Must File Taxes on Bitcoin – Technically since bitcoin has value, you must claim the dollar value on your taxes in the USA. Nearly 1000 people have done so as of 2017 taxes.
8. Don’t Lose Your Wallet – If you aren’t careful, you can lose all your bitcoins by not saving your hard drive. You’re the only one with proof of your transactions, so you must guard it carefully or you can lose it all.

Using bitcoins without losing your money can be a great way to invest and earn more money. But, before you get started it’s imperative that you learn everything you can. You can learn a lot by going to the Bitcoin.org website and reading everything you can about it. Also, find a mentor to help you navigate the new terms and money system.

Bitcoin is a type of cryptocurrency or digital currency in which units are generated via encryption techniques. It’s a type of peer-to-peer transfer called mining. It’s not backed by the government or any regulatory body.

It’s ripe for scams since there is no real regulation on it, and in some people’s mind bitcoin is a huge scam in and of itself. But, if you want to get involved with the cryptocurrency trend, be aware of these common bitcoin scams.

1. Fake Bitcoin – The way this scam works is that someone offers to pay you for something with bitcoins, but you don’t know how to use bitcoin and they know it. They attempt to teach you how it works, assuring you that it’s legitimate. But in the end, they get your merchandise and you end up with fake bitcoins that are worthless.
2. Ponzi Schemes – In this scam, someone offers you an investment deal. You will give them money or bitcoins in exchange for getting a big return on investment. Sometimes these scams are very elaborate, and you’ll even be able to see your account grow until you try to cash out. Only then will you know it’s a scam because you won’t get the money.
3. IRS Scam – This scam works the same as most IRS scams. A convincing person claiming to work with the IRS calls you and says you owe a lot of money. They tell you to go to a certain website to purchase bitcoins and to pay them with the bitcoins. The truth is, you’re not really buying bitcoins and they’re not really letting you pay your IRS bill with bitcoins. Instead, they’re taking your money.
4. Switch Scam – In this scam, they want you to buy their new cryptocurrency with your bitcoins, but their currency doesn’t even exist. They claim it’s the next best thing and that it’ll out-earn bitcoin overnight. They may even have records that look like proof but it’s all fabricated.
5. Malware – You stumble on a fake site where you think you’re buying bitcoins when you’re not. You’re just infecting your computer with malware that will “mine” your computer for bitcoin units and your computer will be messed up. Plus, you’ll give them actual money.
6. The Celebrity Scam – If you’re online and see any celebrity offering “free bitcoins” or a good deal on bitcoins, it’s a scam. No one is going to give away extra bitcoins; it doesn’t make sense. If Tom Cruise says they want to give you bitcoins for a low price, you know it’s not true. Why would they do that?
7. Ransomware Attacks – If your computer gets hijacked with a threat to pay them in bitcoins to release your computer, this is a common way to get money. Obviously, it’s a scam but it’s a very easy scam to fall into. If your computer is locked up, you will be tempted to buy your way out. Don’t do it.
8. Fake Wallets – To spot a fake wallet, it’s important to ask around on social media to ensure that the wallet is real. Install the right anti-virus software on your computer to avoid any malware. Use a good wallet application yourself so that you can have multiple wallets, thereby avoiding having problems if one is compromised.

To avoid scams, it’s best to find someone you really trust who already understands bitcoin fully. They can be your mentor or guide to help you avoid a problem. Because if a mistake is made, there is no one who can help you out or give you a refund. You’re just out of the money.

The Internet is one of the most useful tools that you can take advantage of today. With the advancement of communications technology, you can send and receive data to and from the Internet for free or at a very cheap price.

Since the development of the Internet and introduction to the public, people have been using it to communicate with family and friends. With the Internet, you can chat for free even though the person you are talking to is half way around the world.

Today, because of the advancement of the Internet, and the availability of a cheap broadband Internet connection, it is now possible for people to start an online business, work online, and even trade in the financial market.

Trading in the financial market online has a lot of advantages. You no longer need to be inside the market floor to trade. All you need is a computer with a high-speed Internet connection, and trading software and you’re ready. If you are thinking of trading in the financial market, you might want to consider trading in Forex.

In the past, because the Internet was still in its infancy and the Forex market have strict sanctions and policies, regular people, such as yourself were not allowed to trade in the Forex market. Only multinational companies and financial institutions were allowed and it also required huge amounts of investment capital to start trading in this financial market.

The Forex market is the largest and the most liquid financial market in the world. It operates 24 hours a day and generates currency exchanges that amount up to 2 trillion dollars each day. With this kind of feature, people would really want to trade in the Forex market.

With the advancement in the Internet technology, it is now possible for people to trade in the Forex market. The Forex market also opened up its doors to individual traders and brokers.

Forex trading is considered to be a great money making tool that you can take advantage of. With the right skills and knowledge, you can really be successful in the Forex market and earn that money you have always wanted.

It is also a fact that many people who have traded in the Forex market have earned quite a lot of profits. Some even considered it to be a great full time career and decided to leave their regular jobs to trade fulltime in the Forex market.

However, the Forex market also carries an equal risk to traders. There is also a chance for you to lose money when you trade in Forex. It is also a fact that Forex took people in the brink of financial collapse. However, with the right skills, knowledge and strategy, you can minimize the risk and maximize your earning potential when you trade in this very liquid market.

If you are looking for a great fulltime career that you can do in your own home, you can consider the Forex market as one of the best career choices.

The first thing you need to have in order to start trading in the Forex market online is by having a fast computer with a fast internet connection. Fast Internet connection is very necessary in order to let you have access to real time information on what is happening in the market. This will also prevent slippage.

The next thing you need to do is hire a firm that is available online that specializes on Forex trading. The online Forex trading firm will give you access on using their online software that is necessary for you to start trading. For inexperienced Forex traders, it is recommended that you hire a firm in order to have first-hand knowledge on how to trade currency, and also help guide you on your trades.

If you don’t want to hire a firm, there are a lot of software programs in the market that you can use to start trading in the Forex market. The most important thing you have to consider in a trading software program is that it should allow you to gain access to the Forex market instantly. It should also give you the tools you need, such as charts and other indicators that are necessary for you to trade effectively.

Software programs are recommended for experienced traders who don’t want to spend money on Forex trading firms.

These are some of the things you should consider when trading in the world’s largest financial market online. Always remember that there are no guarantees in Forex. You should be prepared to lose money during your first few months of trading. Once you completely understand how Forex works, you can be sure that you can earn a lot of money in no time at all.

Forex trading is one of the growing markets for making money in today’s world economy. If you are part of the forex trading game, you need well thought out and planned strategies. You also need up to the minute information and reliable data to help you along the way. With this said, in order to be successful at forex, you’ll want to invest in high quality products to help you analyze, watch and track the forex market. No little project at all. The good news to you is that there are options out there to help you do just that.

First of all, realize that forex trading is an excellent market to trade in. It has the ability to make you money without a whole lot of investing. And, you can trade with whatever you have, not necessarily millions of dollars. To get into the forex market, it makes sense to pay attention to the numbers for some time. Then, you’ll have a good feel for it long before your dollars are involved.

But, once you do get in, you’ll need up to the minute information. Consider the purchase of and use of valuable forex trading software programs. These programs can help you to track what is happening and in some, it will help you to better analyze the information as well. Of course, this in turn will help you to make the right decisions about your investments.

While market trading is always risky, many find that forex trading, when done right, is one of the most profitable without much start up investment opportunities out there. With the ability that you have to monitor and respond virtually instantly to the world’s market in forex, you are better able to make the right decisions which will then lead to those gains you are seeking.

Have you ever wondered how the Forex market works? Are you curious about becoming a trader, but don’t know how to get started? Well, believe it or not, it’s very easy and you don’t even need any money to get started. Let me introduce you to the world of currency trading.

Forex, or foreign currency exchange, trading can be broken down into several key elements. These include a market, your broker, your broker’s trading software, and yourself. In short, you will make decisions, enter them into trading software, and watch the results. It isn’t necessary for you to know very much else about your broker at this point.

However, the most important thing to know about your broker is that any money you deposit in your account is protected. Find out where each broker you are considering is located and see if they are required to work with local regulatory agencies. Honestly, the best way to scope out brokers is to find a trading forum and ask others for advice.

Once you have found some candidate brokers that meet your trust and regulatory requirements, then it is time to dig a little deeper. Two things you will want to consider are the features found in their trading software and the cost of entering a trade. Simply download their software, generally referred to as a platform, and start trading with a faux money game account.

The cost of entering a trade is known as the pip spread. Without getting technical, the difference between the market buy price and the market sell price is the spread, expressed in points or pips. The larger this spread then the more the market has to move in your favor for you to make a profit. However, it is certainly appropriate to accept a slightly higher pip spread if you find a broker or trading platform that you really like.

Let me summarize this to show you how simple it really is. Find a broker. Download their trading platform. Open up a free game account. Buy and sell currency pairs in order to get familiar with market movements and your trading platform. Continue using a game account for several months until you have witnessed a wide variety of market activities.

That’s it. Now, once you’ve started trading in a game account, it is time to start visiting some online trading forums and reading everything you can. You’ll want to learn about charting, fundamental and technical analysis, stops, limits and plenty of other arcane terms that are actually very simple to learn once you are actively involved in trading.

Finally, don’t worry about whether or not you have chosen the best broker, because you’ll have plenty of time to move to another. In fact, by the time you are ready to graduate to a live account, you will surely know whether or not your broker’s platform offers all of the charting or trading capabilities that you desire. Now, get out there and start trading.

The Forex market has changed through the years, growing in volume and expanding across multiple time zones.

Brokerage houses have changed, too, going online with sophisticated software and powerful servers.

Economic indicators and technical analysis have become more sophisticated, too, until the Forex market of today bears little resemblance to what it used to be.

But there’s one thing that hasn’t changed: most traders lose.

Despite all the advances in the Forex marketplace, the ratio of winners to losers remains low. Experts agree that the most hopeful number that can be advanced is a measly 10%, which means that 90% of all traders on any particular day will lose.

Experts also agree that the reason most traders lose is because they allow their emotions to cloud their judgment.

Most people trade on hope and fear, rather than facts. Rather than basing their trades on what the charts and the indicators actually say, these people trade on what they want them to say. They hang onto a losing trade and follow the graph down, hoping the currency pair will turn around. Or they exit a trade too soon, fearing the trend won’t last, and are satisfied with pennies that even the best Forex money management cannot balance against their losses.

Other people lose through greed, by trying to pick the highs and lows too nicely to maximize their profits to the penny. Rather than waiting to place a trade when the indicators confirm the market’s movement, they jump in too soon and are disappointed when the anticipated break-out never occurs.

Remember, there is no magic software or fool-proof trading scheme. If you cannot control your emotions, then you cannot become a winner despite yourself. But there are things you can do to improve your chances of being one of the winners, and the most powerful is to follow these rules of Forex trading:

Prepare a trading plan, using good Forex money management skills and the trading strategy of your choice—then trade your plan. Don’t alter your plan or fudge your criteria if you don’t see a good trade for a few days; wait for the market to fulfill your requirements before risking your money. Remember the law of averages: sooner or later, the market will come around.

Use stops, and trailing stops when possible, to control losses and protect your profits. Remember to set your stops far enough away from the entry price so that you aren’t closed out by normal market jitters.

Paper trade with a demo account until you are efficient and feel comfortable in the market.

When you move on and start trading with real money, it feels different than paper trading! But this is no time to change your plan. To minimize the effects of emotion, set a small, realistic initial goal and trade until you achieve your goal more often than not. Use small sums in micro or mini accounts. Only when you are comfortable risking your cash and sometimes losing it should you attempt to trade with larger sums of money.

Study your trading record and try to figure out what went wrong when you lost. To put it simply, learn from your mistakes. That alone will put you ahead of the crowd!

Trading in financial institutions is one of the best ways to earn money. It is also one of the most promising career choices that people make today. With the opportunity to earn a lot of money, more and more people who are interested in trading in the financial institution have left their jobs to get a piece of the action in the financial market.

Today, the Forex market is the best choice for people who are considering making a career out of trading in the financial market. Besides, who wouldn’t want to trade in the largest and the most liquid market in the planet which involves all the countries in the world?

The Forex market operates 24 hours a day with currency exchanges that can go as high as 2 trillion dollars each trading day. Also, it is the most liquid market in the world which also means that traders can enter the market anytime they want and get their profits easily.

In the past, Forex was limited to large financial institutions and multinational companies. Only banks, central banks and large companies were allowed to participate in the Forex market. However, thanks to modern communications technology and high speed internet and decreased sanctions in the Forex market, ordinary people can now trade and participate in the world’s largest financial market.

Because the Forex market is now open to everyone and because it is a very profitable industry, online Forex brokerage firms began improving their services and accessibility. They now also designed different trading platforms suitable for different Forex traders. Not only has online Forex brokerage firms made their trading platforms accessible, they also began and still continuing to improve their software.

They also allow people to register with a Mini Forex account that can let them trade with a minimum margin of 100 dollars only or even less.

If you are interested in joining the Forex market, you only have to have a few things to get you started.

First, you need a computer with a high-speed internet connection. The high-speed internet connection is very important for an effective trade to work. It will also minimize the risk of slippages that can cause you to lose money. So, if your area doesn’t have any high-speed internet connection available, you should forget about trading in the Forex market online. This will only make you lose a lot of money.

Second, you need to choose which Forex brokerage company you should hire. These companies will provide you with the Forex trading platform that you can easily download and install in your computer. The Forex trading platform is simply a software program that is essential for an online Forex trader.

It is important for you to choose a trading platform that you are comfortable using. You should also make sure that the trading platform you choose provides accurate and up to date real time information, security, and stability.

It is also recommended that the trading platform you choose should provide information on at least 16 currency pairs, execute orders with just a click of the mouse, have charting tools to perform technical analysis, and should also have a recording feature that will store your trading history.

With all these features, you can really improve the way you trade in the Forex market and also minimize the risk of losing money.

Look for a Forex trading platform that is simple to use and easy to understand. If you wish to know more about the Forex trading platform that a Forex trading brokerage firm offers, you can consider opening a dummy or practice account. By doing this, you will never risk real money on trades while learning the ropes.

You will also get hands on experience on the Forex trading platform and really determine if the platform is for you or not.

Risk management is also a very important feature that you should look for. If it takes too long to select a risk management order, you should consider looking for another Forex trading platform.

These are some of the things you should look for in a Forex trading platform. With a little practice in the dummy account, you can be sure that you can get the hang of it in no time at all and start making money through online Forex trading with a reliable Forex trading platform.

As a new binary options trader it is imperative to prepare yourself mentally and emotionally for the highs and lows that come along with binary trading. Hopefully you’ve taken the time to select a good binary options trading platform, one that is easy to use and fits your style of trading whether that be forex, stocks, commodities, or index trading. So now it’s time to trade, where should you start. Well you know they say those who fail to plan, plan to fail. You need a solid binary options strategy. So that’s what we have for you outline below.

The Early Hedger Binary Options Strategy

The binary options strategy most newbies use relies on a basic understanding of technical analysis. If you’ve never used any type of technical analysis to read charts, we suggest reading a book on candlestick charting, which seems to be the tool of choice of most binary traders. Incorporating candlestick charting into your binary options strategy will allow you to pick entry and exit points more efficiently. The dynamics of the early hedger binary options strategy can best be summarized as such:

1.    Determine proper entry points for your binary option trade early in the expiration cycle (e.g. 10:00-10:15)
2.    Allow the underlying time to make its move, closely monitoring opportunities to increase the size of the trade or hedge.
3.    Start looking to place a potential second trade roughly 10 minutes prior to the lock out period
4.    If the position is deep in the money your best bet is to probably leave it alone.
5.    If the position is deep out of the money you can leave it alone and move on to the next trade or attempt to place 2 more trades to lock in a profit zone.
6.    If the position is trading right around the initial entry point, you may want to consider placing the opposite binary trade position to limit maximum losses.

Follow these six steps to guide your initial trading actions. This early hedger binary options strategy is a sound way to control the potential risk of an otherwise risky venture. Under this binary options strategy you always give yourself a chance to lock in profits or exit bad positions while maintaining an eye on potential loss. Other popular binary strategies expose traders to substantial risk with no consideration for safety. As a new binary options trader you want to stay in the game for as long as possible so try to follow the guidelines laid out in this simple binary options strategy when starting your trading day.

With many options (no pun intended) for traders to choose from, how should one go about selecting a binary options broker? There are several things you should keep in mind when choosing the most appropriate binary options broker for you, the most important of which we highlighted below:

Types and Amount of Assets Available To Trade

Each binary options broker has a different set of underlying assets available to trade, so you’re going to have to do a little research on your own if you are interested in a specific asset. For example I like to trade Intel. Unfortunately not every binary options broker offers Intel binary options, so that may be the determining factor in selecting one binary options broker over another. But for the most part the most popular, highly traded, underlying assets are represented on most of the broker trading platforms. So whether you prefer trading forex, commodities, indices, or plain equities a leading binary options broker will likely have a variety of individual assets for you to trade. The pure number of the underlying assets will vary by broker, so be sure to do your homework before signing up.

What Expirations Are Available?

Another question you will need to ask yourself is what time frame are you most interested in trading? A quality binary options broker will most assuredly have binary options that expire in one hour so you won’t have to travel very far if that is all you are interested in. However, if you are also interested in trading either shorter than an hour or greater than an hour binary options with your binary options broker then you will have to dig a little harder. We’ve seen broker with expirations of as little as 15 minutes all the way up to one month. Different trades present different time frames and opportunities so binary options broker flexibility will be huge if you don’t just want to focus on hourly expirations.

How Long Is The Lock Out Period?

This may be the most important binary options broker characteristic. The lock out period is essentially the time frame during which you can no longer alter the trade dynamics for a specific expiration. This is the period of time before expiration. A typical binary options broker lock out period is around 10 minutes, with some offering 5 minute lock out periods and others hitting you with a 15 minute lock out period. It is in your best interest to trade with a binary options broker that has a low as possible lock out period. The more control you have in being able to either add to or hedge your position the better your results should be.