My Money Blog

This article covers a number of useful tips for preventing potential frauds that may be perpetrated by forex brokers on their clients.

The forex market has opened its doors wide to just about anyone with a computer, an Internet connection and some funds to put at risk thanks to the availability of online forex brokers. Nevertheless, this access to a huge and largely-unregulated financial market has led to increasing abuses by some unscrupulous online forex brokers.

It therefore pays to do some serious research into the background, capitalization and operating practices of any forex broker you might be considering opening a funded account with. Some of the ways in which you can protect yourself from forex broker frauds include performing the types of research contained in the following sections before sending any money, especially to a forex broker based outside of your home country.

Read Independent Reviews

Be aware that many online forex broker reviews are written by those who are paid in some way to promote the services of the broker they are reviewing. They might be freelance writers hired by the broker or affiliate marketers who benefit financially from making referrals to the broker.

While these reviews might be informative about the types of services the broker offers, the best reviews generally come from those who are unpaid independent forex traders who have actually used the services of the broker being reviewed.

Scan the Internet for Common Customer Issues

Many disgruntled users of fraudulent forex brokers or those who engage in dishonest business practices have posted their experience on various online discussion forums and websites such as this one that are dedicated to preventing forex frauds and scams.

If comments about a particular broker seem derogatory, review the comments critically to see if they are just coming from sore losers, or whether the complaints actually seem to have a legitimate basis. Then you can also get the other side of the story, perhaps by going to the forex broker themselves and asking what they have to say about such comments.

Review Their Trading Platform for Reliability

Many online forex brokers will allow you to test their trading platforms in a demo or practice trading account before you have to commit any funds to a live trading account. Basically, you will want to see whether the broker’s trading platform is reliable, offers convenient deal execution at good prices, has all of the features you will need and is available during all trading hours.

Does the Broker Have a Reputation for Honest Deal Execution?

Some disreputable online forex brokers have been criticized for failings that generally relate to deal execution. For example, they might not honor deals that were properly entered if a system failure occurs, they might not execute take profit orders that should have been filled by all indications, they might not provide immediate execution at the prices they quote, and they might fill stop-loss orders at levels considerably below where they were set.

To avoid having such a negative experience, read the broker’s terms and conditions carefully to see how they claim they will deal with such problems if they arise and only select a broker that seems to have an upstanding reputation for honesty in deal execution.

Consider the Benefits of Opening a Demo Account First

Opening a demo account for forex trading is not only useful for testing the dealing platform, execution and customer service of a particular online forex broker, but it offers an excellent way to test out whether you like to trade forex and if your trading plan shows promise in terms of consistent profitability.

Continue Reading

By Renee Miller

President/Creative Director

The Miller Group

Bluetooth marketing is becoming one of the most cost-effective ways of delivering messages to a large audience. Simple text (SMS) to more involved audio/video clips are delivered direct to Bluetooth-enabled mobile phones and PDAs within a range of about 30 meters. Below are a few interesting applications:

Trade shows: Bluetooth works great to set you apart from other exhibitors. Use it to drive traffic to your booth by sending short intro videos and information. At a recent trade show, Microsoft delivered daily podcasts on key technologies, recaps of conference highlights, mobile wallpaper and discount vouchers to eight bluecast points. They reported opt-in levels at 37%.

Retail and restaurants: Use proximity to provide new offers, special promotions and discounts to customers.
It’s is a low-cost delivery channel that accurately tracks and provides immediate feedback (so under-performing promotions can be identified and improved). Plus, it’s extremely affordable.

Auto dealers: Send targeted prospects a short video introducing your hottest models. Permission-based Bluetooth typically boasts 30-50% acceptance rates. Plus, customers who accept your content may be more predisposed to buying on the spot. And your video will likely stay on their phone, so they can show off their new car to friends and family, spreading the word about your dealership – something your brochures can’t do.

Shopping Centers: In addition to being a marketing tool, proximity can also generate income when you allow third parties to advertise. If you operate a shopping center, you can use proximity can send willing shoppers everything from film and music clips to barcodes that can be swiped in-store for special offers. You’ll find some tenants very willing to pay for this service.  For more information, contact Renee Miller: renee@millergroup.net or visit:  www.millergroupmarketing.com

Continue Reading

As I wrote in my last post I have started a dofollow blog directory. It’s been time consuming, especially as I found several things I couldn’t live with using the esyndicat directory script. So after installing a new script and creating a template I have finally started adding blogs for real. This ofcourse takes time too, and having sick kids sure makes everything take even longer.

Of course there are still some things that needs to be made like, news and rss feeds It is actually working. I hope I can add about 20+ new blogs a week. If you have a dofollow blog you are welcome to submit it to the directory

Hope you all enjoy the directory: dofollow blogs.net

Continue Reading

It seems lots of people are using do follow blogs to create backlinks to their site, thus increasing their visitors and their placements in search engines. I have decided to create my own Dofollow blog directory, and hopefully using out of date blog lists is now behind us

The site is still under development, but I have added blogs already and will continue to add new blogs dayli. (have around 50+ more blogs to add at the moment).

I hope users will help me maintain it by reporting bad links and those blogs that have turned no-follow.

Just click here to go to my new: dofollow blog directory

Continue Reading

The past couple of weeks I have tested the Fapturbo Robot on a new live account. This post is not about theis forex robot but being back in the forex market made me seek out some fundamental “rules” about forex trading. So here is some of the places I thought was excellent sites that any new traders should have a look at:

1. Dailyfx

Dailyfx.com has a range of vidoes that will teach new forex traders how to spot the market trend, use different tools, money management and more (Go to to dailyfx.com training videos). The videos are fairly simple but holds so much valuable information. Information anyone must know to be successful in the forex trading arena.

The site also has alot more info that surely can be used in everyday trading.

2. Forexfactory (forum)

The subtitle here may suggest that forexfactory.com is a forum. It is a complete website and have a very nice “Todays Forex News page”; but actually I want to mention their forum. Ofcourse the forum has plenty of threads as most forums do, but especially the EUR / USD thread is more than active and you can learn alot just by being a passive reader. They share both ideas tips, chart analyzis and more. I recommend stopping by because there is so much good information in there.

3. Babypips

If you are a brand new forex trader, it is crucial that you attend the babypips school. No you do not need to sign up or join in anyway. The school lets you start in any grade, but I recommend starting in pre-school and work your up. If or when you have learned all about the basics, you can continue to forex-college! This site is exellent and should not be ignored by anyone wanting to learn about forex trading.

I know there are plenty of sites out there that can teach you about forex, but these are the sites that gave me the most info, and I had no problem understanding it. It might not be so for others. If you come across a site that you believe holds good forex learning resources, let me know. I will add it to this post asap.

Happy trading.

Continue Reading

The last couple of posts here has been about some daily updates on the performance of the Fapturbo robot. I have decided not to update these per day but rather per week. Untill I start this update (counting from this Monday this week), let me just give you a short update:

Prevously I had great experience with the Fapturbo robot, but this time it really doesn’t impress me at all. It still does make good trades everyday, earning me around $20 -$40 a day on some trades. However it seems to make at least on or two trades a day that reaches the stop loss and therefor kills whatever is gained. I have managed to grow my forex account tremendously, but only by shutting down fapturbo as trades came close to a stop loss, then waited till the trades went positiv and close them manually.

Especially one trade really got me worried: Fapturbo opened a long position which rapidly became a loss. Although the trade didn’t reach the stop loss the fapturbo robot decided to close it with a loss. I don’t mind taking a loss if I have too, but just 20 seconds later it opened a new long position on the same pair. If the Fapturbo robot believes the pair will go up why close a long position?!

I am considering taking of the fapturbo money management, and run it with my own settings. Also, I will probably interfere from time to time, shutting down the forex robot to prevent it from closing or taking small profit if I feel I can do better myself. I will ofcourse mention this whenever such measures has been taking.

Untill next update: Happy trades!

Continue Reading

Todays fapturbo trading was not impressive at all. As I wrote in my last post, I had an open position which was on the negative side. That position (8804020) ended with a stop loss and a total loss of  $66.11. Although the fapturbo had many positive trades last night, it also had another bad trade that also ended with the pre-defined stop loss (8824861). A loss of $69.02. Both of these trades where a long position on EUR / CHF, so it seems the fapturbo robot made some really bad calls yesterday on that specific pair.

Seeing the profit versus the loses, I am wondering why the default settings are set to take profit after 5-10 pips but stop loss is 50 -80 pips depending on currency pair. Why take such big loses when the robot hasmade a wrong decission shouldn’t it cut the loses instead of hoping for a good result…?

I have decided to try with friday tradings on (default settings are off), so we will see how the robot will perform tonight.

Here are todays results:

Lot size 0.1
Leverage: 400 (high leverage for test purposes. NOT recommendable! More info on lot size and leverage here)

The profit for each trade is the far right column.
Total profit for 3. Feb: $ -102.13

Total profit for this account: $ -51.16

Continue Reading

Another day has past and the forex robot FAPturbo has made some nice trades.

Here are todays results:

Lot size 0.1
Leverage: 400 (high leverage for test purposes. NOT recommendable! More info on lot size and leverage here)

The profit for each trade is the far right column.
Total profit for 3. Feb: $ 33.03

Total profit for this account: $ 50.97

At this momment I have an open position that is on the negative side. The result will ofcourse be uploaded once this position is closed.

Continue Reading

I have thought about setting up a fabturbo forox robot account, for the sole purpose of writing the results here on this blog. Finally, I’ve taken the step and I’m proud to able to put up the first results;)

The trades are all made with newest realease of the fapturbo forex robot scalper stratefy, and all settings are default. I have not changed any settings at all.

Here are todays results:

Lot size 0.1
Leverage: 400 (high leverage for test purposes. NOT recommendable! More info on lot size and leverage here)

The profit for each trade is the far right column.
Total profit for 2. Feb: $ 17.94

Total profit for this account: $ 17.94

Continue Reading

Christmas is just a few days away which means 2009 is comming to an end. This also means this years Forex trading is closing soon. Although the forex market will open again shortly after we have toasted with our friends an family and welcomed the new year, it is not adviseable to jump into the forex market just yet.

The forex market tend to be very unstable the first couple of weeks in the new year, as many people and investors spend this one and only major break in forex trading, to spend time with family and friends. So be carefull with your tradings in the new year.

My suggestion to you as a forex trader is; Just do what the others are doing. Take some time off. Close the laptop, and visit some family or spend time with your kids. The new year will bring plenty of time for trading so minimize your risks and gain a profit on the other things that life has to offer.

Merry Christmas Everyone and Happy New Year
May 2010 bring you happiness and wealth!

Continue Reading