Forex PDF

Saturday, October 16, 2010
PDF is the popular file format for the electronic books (or e-books) and Forex traders always search for Forex PDF to read about the currency trading from their own PC without having to buy a physical book or installing some additional software for e-book reading. Of course, there are many strictly proprietary e-books that aren’t available in PDF format, but there are also free e-books that allow reading about Forex in PDF format.

There are several sources of the Forex PDF books on-line. Some of them are great and feature tens of interesting and useful e-books; others aren’t that cool but still allow downloading one or two free Forex PDF books:

  • Forex E-Books from list more than 70 free PDF e-books that can be freely downloaded. All the books are divided into 6 thematic categories.

  • Trading Naked Library — the site isn’t too visitor-friendly but it has ton of Forex PDF and other financial trading e-books.

  • Phildun’s Forex Trading Library is a great source of free Forex PDF books but it lists them without descriptions and the download process isn’t very easy from this website.

  • The Forex Village has four categories of free Forex PDF books with a lot of rather rare strategy descriptions.

  • FX1618 lists a lot of interesting e-books but, unfortunately, only few of them are about the actual Forex trading.

  • — the majority of the listed books are paid but there are also several free ones there (not too great).

  • Forex Newbies Library - 9 carefully picked newbie-friendly Forex PDF books. Nice choice if you don't want to spend a lot of time to go through the dozens of them to find what you really need.

When you set yourself into a Forex trading, it’s very important to have a good level of knowledge in the markets. Downloading and reading at least some of these e-books can be a good start before your open your real money account and buy some real books on trading.

If you know some other good on-line sources of free Forex PDF e-books, please, feel free to mention them in the comments.

Update: One more source added.

5 Reasons to Use Forex VPS

Friday, May 14, 2010
Installing your trading system on a dedicated server with a full-time connection to the trading server and no need to reboot, restart or be turned off is a great advantage that can seriously enhance your profit results. If you trade with MetaTrader expert advisors there is a great selection of VPS services available for you — starting from as little as $9/month they can guarantee you a 99.9% uptime of your trading robot. This is a list of 5 main reasons to use Forex VPS:

  1. Uninterrupted 24/7 run-time of your expert advisor ensures that it uses all the trading signals. You won’t miss any opportunities. Your EA will be also able to close other positions on time and won’t need to store its internal variables in a file to load them after restart — there’s simply no need for it to restart during trading sessions.
  2. No need to run the expert advisor from your home or office PC. Now that your expert advisor is trading on a real account from a VPS, you can stop running your MetaTrader platform all the time. You can also safely reboot your PC and turn it off when you don’t use it. And there is no more stress when suddenly you get some critical software error.
  3. Because VPS is a dedicated server that runs only your trading platform and EA, it can have a much better performance, processing the incoming data and sending orders much faster than your own PC could do. That can really help to get better quotes, deal with the requotes and use scalping systems.
  4. You can choose a VPS, which is located physically close to your Forex broker’s trading server, ensuring even faster connection and order execution. For example, if you trade from New Zealand and your broker is located in United States you’ll always have some network latency due to the distance. But installing your EA on a VPS, which is hosted in U.S., will remove this latency.
  5. Usually, VPS can be accessed anywhere from any computer. So, if you travel a lot you won’t need to move your expert advisor from your PC to your notebook or some mobile device. Your EA will always remain on VPS and you will be able to control and monitor it by logging into your VPS control panel from any place with a connection to internet.

Of course, your EA should be a profitable one and your monthly profit should be high enough to cover the cost of the VPS or otherwise there is no point in using it. You can also use VPS hosting for demo testing your EAs but that’s quite an expensive endeavor. If you have any questions or opinions please, use the commentary form below.

3 Most Important Forex Fundamental Indicators

Sunday, March 14, 2010
There are many fundamental indicators available to the Forex traders today. If you count all of them only for the major currency pairs you’ll get more than a hundred distinct indicators — macroeconomic, monetary, economical, financial, weather-based, etc. For many traders it’s difficult to follow all of them, as it requires time and efforts in addition to the necessity to learn about the effect of all these fundamental indicators on various currency pairs. This article lists 3 most important (in my humble opinion) fundamental indicators that have the highest impact on the currency rates and are quite easy to follow as they are reported not so often.
  • GDP or Gross Domestic Product is the main indicator of the macroeconomic strength of the country. The growth of GDP signals a stronger economy and a more competitive currency because the global investors will have to buy this currency in order to invest in this country, and they will want to invest in it because its economy is growing. GDP reports are usually published quarterly but they have three states of revision (advance, preliminary and final) published with the monthly intervals. GDP strongly affects currency pairs both in short-term and long-term. You’ll have a trading opportunity during the time of the release, as the volatility spikes up, and you’ll be able to adapt your long-term positions to the new data after the release.

  • Interest Rates are set by the world’s central banks and are the main tools of the monetary regulation. Higher interest rates provide more value to the affected currency, while the lower interest rates decrease the value of the currency. Interest rates are usually revised every month or two during the special monetary policy meetings of the central banks. Interest rate decisions greatly depend on the growth of GDP and other macroeconomic indicators. Currency pairs react with the high volatility to the unexpected interest rate changes. It’s important to monitor the trends in the interest rates to forecast the long-term trends of the traded currencies.

  • Unemployment Rates are influential indicators both for currency traders and for the monetary authorities when they set the interest rates. Non-farm payrolls are considered to be the most important of the unemployment indicators in USA and they are released monthly. Major currencies usually react with the short-term tendencies to such releases. Weekly reports on jobless claims can also be considered but they aren’t as influential.

In many cases it’s enough to be up to date with these fundamental indicators to understand the possible market trends in Forex. But, of course, if you wish to get a more detailed picture you shouldn’t limit yourself only with these indicators, especially if you pose yourself as a pure fundamental currency trader.