FXCM

King of the Micro

Trading Contest

Note: Contest Temporarily Discontinued after July

July 2012 Winners

1st Place - 956%

2nd Place - 873%

3rd Place - 494%

More Information

June 2012 Winners

1st Place - 1,809 %

2nd Place - 1,111 %

3rd Place - 953 %

More Information

Note: Above Returns Typically Entail EXTREMELY Aggressive HIGH RISK, HIGH LEVERAGE Trading

Past Winner Result Archive

Our mission is to help you learn or perfect a unique way to earn an independent living harvesting net profits from daily up and down price movements within the global currency markets -- the world's most profitable trading markets.

Many people have never heard of the Global Interbank Currency Market (known among professionals as "Forex"). Yet it is the world's largest financial market, with an estimated average daily turnover of more than $1.5 trillion. Participation in this market has expanded steadily over the past several decades, fueled by increasing levels of international trade and tourism. An increasing number of banks, investment companies and individual traders are choosing to participate in this electronic marketplace -- some banks are now making 40 to 60 percent of their total profits trading currencies.

Thanks to leading, regulated forex marketmakers in the US and UK you can individually harvest profits from the daily price movements within the Global Interbank Currency Market -- up AND down -- of the Euro, Japanese Yen, British Pound, and/or Swiss Franc in relation to the U.S. Dollar from anywhere within the expanding reach of the Internet.

Day trading is being pursued in a variety of financial markets, including the NASDAQ stock exchange. For good day traders, the forex market is clearly the most lucrative market to trade in. Because of the high degree of leverage available in the forex market, day trading in foreign currencies is a high risk business activity, and cannot be pursued on a casual basis.

However, there are a number of major risks associated with most other entrepreneurial activities that you will not face as a day trader! These include the substantial risks associated with having to find, sell to, please or collect money from clients or customers. With foreign currency trading via Internet, it's just you, your analytic tools, your broker and a massive financial market that operates 24mhours a day around the world whether you decide to participate or not. It is a full-time occupation, although during the trading day it does not necessarily require your full attention if you are good at "keeping an eye" on one activity while conducting others.

It is the high degree of leverage available to forex traders that enables them to pursue truly outstanding potential profits. With margin requirements of 1 percent, a trader with a $5,000 opening balance in his or her trading account can easily have positions worth $100,000 open at any given moment while maintaining necessary reserves for price fluctuation. This leverage makes it possible to earn a return on working capital of 50-100 percent or more each month. But you must master basic skills and disciplines before you put real money at risk, since this high degree of leverage also means that you could rapidly lose money.

You can develop your skills in 3 stages:

1. Using a demo account, with no real money involved, you can practice and test the skills that the books recommended below can help you learn - prove to yourself whether you can make money or not before putting your money at risk. For more about demo account trading, click here.
2. Using a micro account, with only a small amount of money at risk, extensively test your psychological ability to withstand the routine losses and gains associated with day trading. For more information about micro account trading, click here.
3. Once you have gained the necessary experience of trading real money over time - we recommend at least a year of micro account trading - graduate to an account large enough to support yourself as a professional day trader.
   

If you can master the skills and disciplines required to be a successful forex trader, you will enjoy an unprecedented degree of personal freedom. You can live and earn a substantial income anywhere within the reach of the Internet since all of your trading can be done via the Internet. You will also never have to work for anyone ever again -- no bosses and no customers to please!

Books featured below can provide a wealth of information that can give you a good foundation for developing your trading skills. If you need a personal trading trainer and coach to work with, we know of none better than Jimmy Young of eurusdtrader.com.

Jimmy has acquired nearly 30 years of experience in foreign exchange trading, including key executive positions, from some of the most prestigious world financial institutions such as Société Générale, Fuji Bank, Manufacturers Hanover, and Paribas. Jimmy offers the best foreign exchange training in the industry by providing a unique and personalized learning environment. Unlike all too many trading seminar programs, Jimmy's eurusdtrader.com is not a fly-by-night operation that will only teach you a few concepts. Jimmy offers a highly dedicated learning environment geared to make you succeed in FX trading. This is achieved by Jimmy’s personal dedication, drive, and perseverance in teaching his students backed by decades of know-how of the foreign exchange markets.

Featured Books

Day Trading the Currency Market: Technical and Fundamental Strategies To Profit from Market Swings -- Order Now via Amazon.com

Written by Kathy Lien — chief strategist for the number one online currency broker in the world — Day Trading the Currency Market reveals a variety of technical and fundamental profit-making strategies for trading the currency market, and provides a detailed look at how this market actually works. It contains actionable information and strategies, which can help you enter this highly competitive arena with confidence and exit with profits.

Day Trading and Swing Trading the Currency Market: Technical and Fundamental Strategies to Profit from Market Moves -- Order Now via Amazon.com

Discover a variety of technical and fundamental profit-making strategies for trading the currency market with the Second Edition of Day Trading and Swing Trading the Currency Market. In this book, Kathy Lien–Director of Currency Research for one of the most popular Forex providers in the world–describes everything from time-tested technical and fundamental strategies you can use to compete with bank traders to a host of more fundamentally-oriented strategies involving intermarket relationships, interest rate differentials, option volatility, news events, and central bank intervention.

Forex Patterns & Probabilities: Trading Strategies for Trending & Range-Bound Markets -- Order Now via Amazon.com

While most books on trading deal with general concepts and shy away from specifics, Forex Patterns and Probabilities provides you with real-world strategies and a rare sense of clarity about the specific mechanics of currency trading. Leading trading educator Ed Ponsi will explain the driving forces in the currency markets and will provide strategies to enter, exit, and manage successful trades. Dozens of chart examples and explanations will guide you each step of the way and allow the reader to "look over the shoulder" of a professional trader hard at work at his craft. This book provides traders with step-by-step methodologies that are based on real market tendencies. The strategies in this book are presented clearly and in detail, so that anyone who wishes to can learn how to trade like a professional. It is written in a style that is easy to understand, so that the reader can quickly learn and use the techniques provided.

The Trader's Tax Solution -- Order Now via Amazon.com

Serious traders will need to think about tax issues sooner or later. As trading increases in popularity, so too does the tax liability. Ted Tesser, expert tax consultant, arms all traders with the right information to reduce their tax liability and be better prepared once tax preparation time rolls around. This comprehensive guide covers all business planning issues and provides tax-saving strategies, explaining in detail what is deductible and what is not, and what documentation is required. Individual case studies, real-world examples, and model tax returns provide the answers traders need.

More Useful Books

Day Traders' Advantage: How to Move from one Winning Position to the Next by Howard Abell

Learn to triumph over the routine obstacles day traders encounter -- like inconclusive/conflicting market data, debilitating emotions and ambiguous technical indicators. They can destroy gains in a flash -- but with Abell's 25 years of day trading expertise you can learn to make mostly winning moves. He divulges all secrets for mastering self-discipline, self-confidence, self-control and other emotions needed to make your systems work in the fast paced world of day trading 300 pp.

Available from Amazon.com

Currency Forcasting: A Guide to Fundamental and Technical Models of Exchange Rate Determinationby Michael R. Rosenberg

Explains the fundamental and technical forces driving exchange rates over time, and recommends an integrated approach to currency forcasting that combines fundamental-based with technical-based rate models.

Available from Amazon.com

Deciphering the Market: Principles of Chart Reading and Trading Stocks, Commodities, and Currencies by J.M.W. Tadion

With a non-biased, scientific approach to the subject, exposes manyof the cherished myths and preconceptions in the field of technical analysis. Offers an original and empirical approach.

Available from Amazon.com

Education of a Speculator by Victor Niederhoffer

Best-seller by a top-rated commodity trading legend, one of the most successful traders of all time. Niederhoffer has trained some of the top Market Wizards, and advised and invested for financial superstars such as George Soros.

Available from Amazon.com

Electronic Currency Trading for Maximum Profit by Keith Long and Kurt Walter

This bookis essential reading for all aspiring and experienced forex traders. It includes detailed lessons for everything from mastering technical analysis to developing successful strategies.

Available from Amazon.com

Foreign Exchange Handbook: Managing Risk and Opportunity in Global Currency Markets by Paul Bishop and Don Dixon

Describes how professional traders price and trade spot, forward, and currency option markets.

Available from Amazon.com

High Impact Day Trading: Powerful Techniques for Exploiting Short-Term Market Trends by Robert M. Barnes

This renowned system builder fully explains his Mountain Valley system. It's so accurate that it made money in every market and timeframe it has been tested in. While other methods miss out on fast moving trends, this one pinpoints money-making movers, ignoring smaller, riskier ones -- so you only take trades most likely to win. 250 pp.

Available from Amazon.com

How the Foreign Exchange Market Works by Rudy Weisweiller

Details the developments in the world's largest market, including the entrance of new players, their impact, and what instruments they use. Describes choices confronting traders and offers expert advice on the best action to take in specific situations.

Available from Amazon.com

International Financial Markets by J. Orlin Crabbe

Offers a solid framework for exploring financial markets, and delineates the basic rules of the game in each of the three major international financial markets -- foreign exchange, eurocurrencies and international bonds -- and conveys an intuitive feel for market dynamics.

Available from Amazon.com

International Money and Foreign Exchange Markets: An Introduction by Julian Walmsley

Discusses the enormous changes which have occurred during the past few years in foreign exhange markets and the impact they will have on the manner in which international business will be conducted over the next decade.

Available from Amazon.com

Technical Analysis Applications in the Global Currency Markets by Cornelius Luca

This bookprovides an all-inclusive analysis of the various technical forecasting methods used by currency traders, and describes in detail the strengths and weaknesses of each. It also includes a software demonstration program that lets you see what top traders look at, compare systems, and test your understanding of currency charting.

Available from Amazon.com

The Complete Day Trader: Trading Systems, Strategies, Timing Indicators, and Analytic Methods by Jake Bernstein

This book explains and discusses the application of various technical methods for day trading, including using raditional chart analysis to enhance day-trading results; analyzing moving averages, stochastics, gaps, and other vital day-trading tools; using Wilder's RSI, intra-day momentum, and other powerful indicators to your clear advantage; and applying a unique day-trading oscillator to the most active markets.

Available from Amazon.com

The Money Bazaar: Inside the Trillion Dollar World of Currency Trading by Andrew Krieger

Captures all the behind-the-scenes excitement of trading in the fast-paced world of the foreign exhchange markets.

Available from Amazon.com

Trading in Choppy Markets: Breakthrough Techniques for Exploiting Nontrending Markets by Robert M. Barnes

This book analyses the markets and develops trading methods for the most common choppy market scenario. Devotes a chapter to each of 20 proven trading methods, providing guidance for virtually every trading situation.

Available from Amazon.com

Trading in the Global Currency Markets by Cornelius Luca

This book gives traders and indispensible overview of the markets' workings and new technologies, then links this information to developments and case studies drawn from the real world. Both comprehensive and cutting edge, Luca offers the key to mastering today's foreign currency exchange markets!

Available from Amazon.com

Foreign Currency Trading: From the Fundamentals to the Fine Points by Russell F. Wasendorf, Sr. & Russell R. Wasendorf, Jr.

Available from Amazon.com