Forex Blog @ FxBees.com

We can now officially announce, what is probably no surprise anymore: FxBees.com was sold in April and we will continue to focus on our German trading portal Spekunauten.de. Unfortunately we didnt have the manpower to build and develop both pages at the same time – and so we had to decide for the larger and more advanced project Spekunauten.de.

Spekunauten.de has a similar approach, but also covers CFDs as well as commodities and also supports virtual trading. We would like to thank all members for their support and wish everybody much success with your future trading career!

For those of you who speak German. Here is a blog post that explains more in detail what are our future plans for Spekunauten.

As you probably already know, our partner broker CMS Forex was acquired by its competitor Gain Capital.  As a consequence our electronic connection with CMS will not work any more on Monday and your trades will not be displayed in real-time at FxBees.com. However we do work on a solution, to establish the connection as soon as possible. So when FxBees.com does not work on Monday as usual, it doesnt mean we are offline. It just means that the connection with GAIN is still not working. Please be patient, thank you!

By the way: Your account will be transfered automatically, so you dont need to worry about that!

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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