The ever increasing forex trade has seen a revolution in the form of online forex trade. And this recently, is the most accepted and comforting forms of minting money. The online forex market is perhaps emerging as the most magnetic money creator.
There are reasons why forex differs from other financial markets which are that it requires very less startup capital. Next is that it is an extremely liquid market. You also have at your disposal, the power of leverage which can help you multiply your trades within less time. Also, when you put your money at different places, there is lesser risk of losing all your money, which is again a benefit, provided by forex. You also have the benefit of not staking money for a certain period of time and this is when you might have faced losses or you feel that certain investment will not prove profit yielding. But one thing that has to be kept in mind is that rules for online forex trading emerge from forex trading in general and are more or less the same.

For an online forex trader, it is very essential to have knowledge of the appropriate forex software for trading and this knowledge will come with years of experience in the market. The advantage that automated forex trading software can give the trader is that it provides day and night trading, i.e. 24*7. This means, that the software will provide you with all the information while you are sleeping, eating or busy with any work. Another advantage is that trading online helps you get rid of emotions from trade.
While trading online, priority is to know the best forex trading software. But with so many programs operating it is difficult to choose the best forex software which also, at the same time proves to be cheap forex trading software. While choosing a system you make sure to pick the one which has maximum ability to customize software settings. This would mean the system that you chose should be able to trade multiple currency pairs at one point of time.
Also the best forex trading software will provide you with coaching, support and forums to get increased speed for you. The accurate forex software is the key to success here. The trader can also download forex trading software. This is in case, the trader has the knowledge of which is the right software for him/her.

Butner, NC, United States (AHN) – Hedge fund trader Bernard Madoff insists that his family was unaware of his fraudulent Ponzi scheme. However, he indicated that banks and hedge funds – whom Madoff did not identify – were part of the scheme.

In the ongoing lawsuits filed by Irving Picard, the Madoff trustee charged that JPMorgan Chase, Madoff’s primary banker, aided and abetted the hedge fund trader’s fraud, but at the same time protected its investments in the BLMIS feeder funds.

Picard cited as proof that JPMorgan only reported Madoff to government officials in October 2008, but the bank did not restrict Madoff’s access to the BLMIS account, which was used to launder money from the Ponzi scheme. The lawyer said JPMorgan ignored its anti-money laundering obligations and repeatedly permitted suspicious transactions in the BLMIS account.

Madoff, now serving a 150-year sentence in North Carolina, stressed in recent interviews that the banks and hedge funds apparently played blind to his businesses. He cited as proof the financial institutions’ failure to examine discrepancies between his regulatory filings and other information he made available.

Madoff’s Ponzi scheme, which lasted 16 years, cost the loss of $20 billion in cash investments and $65 billion in paper wealth. Picard filed the lawsuit against JPMorgan to recover almost $1 billion in profits and $5.4 billion in damage

Picard cited as proof of the bank’s knowledge of Madoff’s scheme internal bank emails that bluntly warned bank executives of speculation that the hedge fund trader was running a Ponzi scheme and financial reports that were clear evidences of fraud.

Because of shame over Madoff’s crimes, his son Mark committed suicide late last year by hanging himself in his New York apartment.

View full post on All Stories

The Best Mechanical Day Trading System I Know

Product Description
The days of costly broker delays and lousy fills are over! How to Get Started in Electronic Day Trading shows you the inside rules and strategies of Electronic Direct Access Trading (E-DAT), the system that lets you use your own personal computer to consistently buy and sell at the best prices the market has to offer. Learn how to open an E-DAT account, take day trading profits from easy-to-spot market inconsistencies, use basic technical analysis to spot moment… More >>

How to Get Started in Electronic Day Trading: Everything You Need to Know to Play Wall Street’s Hottest Game

If you are a forex day trader or considering it, then you need to know the above facts, if you do they will save you a lot of money. Forex day trading is more popular than ever but how do you make profits? Let’s find out.

If you look online you will find more forex day trading courses than any other type of trading methodology and they will all lose you money here’s why:

Let’s start first of all with the vendors who sell courses

1. Why are they selling them?

To make money for themselves! They don’t normally trade their day trading systems because they know they don’t work.

If these systems could produce regular profits they would be to busy making money for themselves and not have the time to bother you for a few hundred dollars they would be to busy making money.

2. The Evidence That day trading doesn’t work

If you ask for a track record of profits from any of these vendors you won’t get one – What you will normally get is a hypothetical track record of huge gains but this is done in hindsight – KNOWING the closing prices.

If I knew tomorrow’s price today, I would be a multi millionaire but of course forex trading is a bit more difficult – you have to work out where prices are going without knowing them in advance!

These vendors use great advertising copy to dupe people but the logic of day trading simply doesn’t work. Why? Because:

3. All short term volatility is random!

Day traders will claim that it’s not – but of course it is!

Volatility can and does, take prices anywhere in a day and daily support and resistance levels are meaningless. When day traders lose, they blame the system or the indicators they use, however if volatility is random, then it is of course the logic of day trading that is at fault – NOT the indicators.

If you think that you can make money day trading go ahead and try but you will learn a very expensive lesson and lose.

I would love a day trader to prove me wrong and produce a real time track record of gains over the longer term (3 years or more), but have the feeling I will be waiting for a long time.

The belief that you can make money day trading, is one of the biggest myths of forex trading and despite the evidence it doesn’t work, traders still think they can win at it – they can’t.

Before you attempt to day trade or buy a day trading system, there are 3 facts that you need to know, as they are critical for your day trading success so let’s look at them.

1. The Logic Of Day Trading Is Flawed

The logic of day trading is flawed and doesn’t work.

Sure you see lots of people claim to make money at forex day trading but they don’t and you will never find a real time track record of gains – we will come back to this point in a moment, for now lets look at why day trading cannot work.

The answer is simple:

FACT:

All short term volatility is random and prices can and do go anywhere in a day, so if this is true – it’s impossible to win.

Of course its common sense, there is no order to the markets in a just a few hours.

Think about it:

Millions of traders trade trillions of dollars and to say that you tell what this mass of people is going to do in a few hours is laughable.

You can never win longer term day trading so let’s look at all those wonderful track records, that tell you to give up the day job and trade for a living..

2. Where is The Track Record?

You will see people present track records in day trading and they all have hypothetical or simulated written on them – which means yep you guessed it there done in hindsight knowing the closing prices – How hard is that?

A child could do it and these track records are not worth the paper their written on.

You never see a real one!

The vendor knows it doesn’t work so he is not going to risk his money trading – he can sell the system to you, make a guaranteed profit and you take the loss in the market. The above is what happens as these vendors trick traders with simulated track records and clever marketing copy.

Scams on the net

The internet has bought lots of great information to forex traders – but also a lot of scams and cons and the biggest con of all is anyone who tells you day trading works – it doesn’t.

Try and find a track record if you dont believe me – you wont find a real one if you do tell me about it, I have been searching for 20 years.

Finally…

If you want to make money forex trading, you need to trade in time frames that mean you can get the odds on your side and this means trading longer term – leave day trading to investors who are naive, lazy or just dreamers. If you want to win – get the odds on your side and do your homework and avoid forex myths such as day trading.