Forex Blog @ FxBees.com

I just ran lately across a great presentation (if this data looks familiar to you, please let me know, so I can link back!) which also included information about trading ranges of currency pairs in different sessions. As price action  is vital to Forex trading, I decided to give a short overview about this topic to make sure, beginners are using their trading time efficiently.

The following chart shows you the average trading range of currency pairs during the different sessions. As you can see, there can be huge differences. This chart can be helpful in two ways: First, determine the most interesting currency pairs for trading and, second, determine the right time to do so.

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As you probably know, Forex trading is perceived as a dangerous business, where up to 90% of all traders burn their money. But why? The stock market has the same unpredictable moves, but investors are not in danger to burn their account immediately.  So why in Forex?

Operating a Social Forex Network, we do have access to all trading activities of all our members. This gives us the opportunity to analyze, why and how traders fail. Even though we also have a lot of demo traders in our network, we focused our analysis on real-money traders, to provide a realistic picture.

So what is it? Do traders take too big positions sometimes? Happens to some, but its not the major reason. Do they trade exotic currency pairs without knowing them well? New traders are curious about everything and some also suffered losses because of that. But again, not the majority. Our findings revealed that traders fail because of two very simple reasons, which are known quite well, but apparently too much often still disregarded.  So no surprise, but yet another proof about what has to change.

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We are happy to welcome many new members lately at FxBees.com. As you know, FxBees.com is not only about trading and publishing results. Its also about sharing experiences and ideas as well as improving your trading results by learning from the best. To make sure that you get the most out of FxBees.com, we would like to give you some recommendations:

1. Follow other members through your real-time feed
At FxBees.com all trades of  our members are disclosed in real-time. We also use this data to build statistics documenting the individual past performance of every member. What does that mean for you? You can browse through endless trading statistics of every member and identify successful traders at first glance. Once identified, you can follow the activities of interesting members in real-time by clicking the follow button. Your indididual real-time feed will be displayed inside of your trading application, regardless of which solution you use (read more on that later). So you stay up-to-date about trading activities of your favorites, copy their trades and learn from them.

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Last week we talked about the advantages of micro accounts for prospective Forex traders. Since micro accounts involve trading with real money, the learning effect of micro trading is significantly higher than with demo trading. So if you are interested in Forex trading, but still relatively unexperienced, we have the perfect offer for you:

Sign up with FxBees.com and we fund your trading career with real $30 in your micro account!

There are no strings attached, you dont need to deposit any own money. The only requirements are:

1. Register at FxBees.com
2. Pass our Beginner’s Quiz (in case you have difficulties, visit the Forex School first)
3. Open a live micro account with our partner broker CMS International
4. Receive your $30 bonus and start trading with real money!

FxBees.com is the first Forex community that allows you to improve your trading skills in a transparent and real environment: All member’s real trading activities are disclosed in the community in real-time. You can learn from the best by following the trades of successful traders in real-time and exchange information and trading ideas with like-minded peers in the community.

Different than other Forex communities we at FxBees.com think that the key to your success is not determined by 101 technical gimmicks that Forex brokers or other communities provide but rather by an entertaining and playful trading environment, where you can improve your skills with a smile. From beginner to expert level with FxBees.com: Dont study too many boring books, rather join FxBees.com today and let us and our community help you to advance on your way to success!

Find out more about FxBees.com and sign up HERE.

The widely known standard Forex account has a smaller brother called Mini account and – not so well known – an even smaller brother called Micro account. While the reasonable minimum deposit for a standard account is somewhere arround $2,000 one can start trading with $25 in a Micro account.

Beginners who are about testing the waters of Forex trading, have to determine wether to paper trade with a Demo account or to get their feed wet with a Micro account. Before you start trading, you have to have a strategy anyways. As long as you dont have a strategy, dont play with real money! Given you already made your first steps in Forex trading, a Micro account could be the right choice for you. Here is why…

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