One was from a rather frustrated gentleman regarding the DXinOne system that is promoted and utilized via the many E-Currency Exchange learning programs on-line. This guy is certain that the DX system is a scam and that the well known e-currency guru with whom he signed on to learn the system, basically jerked him around. I won't use the term he used.... I really felt this guy's frustration, and completely understand it! Many of us just want to find what works, build it, and make some money. The money is, after all, out there to be made! And, E-Currency exchanging makes sense; as the E-Commerce industry is burgeoning globally, so goes E-Currency trading, right?
The spread will always be given in units called pips. A pip represents 1/100th of 1% and is referenced from the fourth decimal place in a currency pair quote. For example, the currency pair EUR/USD is quoted at 1.3387/1.3389 which means that you can buy 1 Euro for 1.3389 US dollars or you can sell 1 Euro for 1.3387 US dollars. The difference between the buy price and the sell price or the ask price and the bid price is 0.0002 which would be expressed as a spread of 2 pips. Pips will also be used as the unit to describe gains or losses with your investments.
It is very unlikely that you can ever get stuck in a Forex trade. Under normal market conditions, one can easily do trades at will with just a simple click of the mouse. And in fact, in forex trading, you can have more freedom to automatically close your position when you have reached your aimed profit level just by setting your online trading platform.
The greatest volume of currency transactions go through during London time, followed by New York and then Tokyo hours. London time therefore is the centre of the currency trading universe.
Doing forex online trading by yourself is not enough. Basic stuff like a computer and a stable Internet connection is needed of course but there's more. You have to have those so-called Forex tools such as robots, signal providers, expert advisors, etc. These things or automated software/systems serve as your ultimate guide and weapon in achieving your goals.
There are numerous software tools available to help you to perform technical analysis on the Forex. You will need to understand charting terms, including support and resistance levels to help you to find successful Forex trades.
When it's your money, it's always important to do your own due diligence in order to make informed decisions. Decide for yourself if E Currency Exchange is right for you. But make sure you're not getting caught up in the hype!