Archive by Author
Forex Broker Fraud Prevention Tips
Posted on 30. Apr, 2010 by Casper.
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
A little update for previous post – dofollow blogs
Posted on 23. Mar, 2010 by Casper.
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
Dofollow blogs directory.
Posted on 13. Mar, 2010 by Casper.
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
Learning the Basics of Forex Trading
Posted on 20. Feb, 2010 by Casper.
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
Fapturbo Forex Robot Tests
Posted on 16. Feb, 2010 by Casper.
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
Fapturbo Forex Robot Results – Part 3
Posted on 05. Feb, 2010 by Casper.
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
Fapturbo Forex Robot Results – Part 2
Posted on 04. Feb, 2010 by Casper.
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
New forex account for FAPTURBO robot tests- Does it still work?
Posted on 03. Feb, 2010 by Casper.
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 and Forex
Posted on 22. Dec, 2009 by Casper.
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
The Alternative to Buying Business Opportunity Seeker Leads
Posted on 31. Oct, 2009 by Casper.
The most difficult tasks as an online marketer is finding people to talk to about your service or product. There are general two ways for new online marketers to find leads, and these are often the ones that are told to them when they have joined a MLM-business.
Look for friends and family, that would be interested in your product – (not really something I would do)
Buy leads of people seeking online business oppertunities, which can be expensive,
Although the warm market approach works for some people meaning about 1% of all network marketers, it’s generally not a good idea. You are limited in the amount of people you can prospect and there are many reasons why, however it’s not the topic of this article. Instead we’re going to analyze buying expensive business opportunity seeker leads.
Why Buying “Business Opportunity Seeker Leads” Is Not a Good Idea, Your MLM Success Depends On It
Buying these business opportunity leads is unfavorable to the success of your mlm business and here’s why:
MLM Success Secret #1 – Because They’re Expensive and Not Exclusive
Business opportunity leads will often cost well north of a dollar per lead depending on the type of lead you are actually buying. The leads you have paid an expensive amount for aren’t exclusive to you meaning that people in other MLM businesses will have access and be able to purchase the same leads. That’s how these crafty MLM lead brokers make their money, by selling the same lead to multiple network marketers.
Usually by the time you get the lead on the phone they’ve already been contacted by multiple people and more than likely they’re sick and tired of being pitched by every so called great opportunity. These people have already been invited to multiple presentations and are constantly receiving tons of annoying follow-up calls.
By the time you make the call, they’ve got a response already prepared for you. Just in case, I would recommend you be prepared yourself because more than likely you are going to be shot down and be made to feel like a piece of trash right before getting hung up on. Fantastic! You just spent a dollar or more for that? Get ready, because if you keeping buying those type of leads it is exactly what you’ll get, try and see for yourself.
MLM Success Secret #2 – Many Of The Leads You Purchase Are Not Looking For a Business Opportunity.
I can personally tell that I’ve dialed thousands of these kinds of leads and I know for certain that most of the leads you call won’t be looking for a business opportunity. In fact more than 50% won’t have the money required to invest into a business and they’re really looking for a JOB.
For example, lets say you buy 100 leads at $2.00 per lead. This means that you will have spent $100 to speak with people who don’t have a credit card or may be on welfare. This means they can’t join your business or even by your product or service.
It’s truly sad, but most of these people were probably online at 2:00AM and filled out some type of survey to receive some type of FREE offer they were promised for completing the survey. Somewhere along the line they probably clicked a box that said they were interested in starting a home based business without even paying attention to what they were actually clicking on.
The other $100 you bought in leads is a toss-up between you and all the other marketers out there. It depends on who gets to the lead first without getting beat to the punch.
Why Do Network Marketers Buy Leads?
Network marketers buy leads because they don’t know where to begin or how to find leads on their own. Bottom line you’ll get lucky every great once in a while if you stick with it long enough. Eventually you’re bound to find a superstar that will explode your business but you have to ask yourself is it worth the time and expense? NO! Most definitely not!
There Are Better Faster Ways to Find Leads
I have personally found that using the internet to generate my own leads has been the single best way to find leads. If you own the lead that is being generated by you, you have a sense of control over it and your business will be in good shape. I guarantee it.
By generating your own leads, you are the only one who gets it. It’s not resold to other potential marketers. Someone who searches for your product or service finds your website online. Your marketing message is presented and the person that found you online decides to leave their contact information for you and only you.
At this point they are expecting your call so when you do finally get around to it they already have a sense for who you are. This makes the conversation a lot easier as the prospect has expressed an interest in you first, not the other way around.
Grant it there is still a bit of a cost involved but as you already know, running a business from home is going to involve some business expenses, right?
The secret to MLM success on the internet is to learn how to create a website with the right marketing message so that you are speaking to a targeted audience of qualified prospects. It makes your life much easier and not to mention it is a system that will work for you 24/7 while you sleep.
Continue Reading
.gif)
