The presented Forex tools can assist you both in technical analysis and money management which will greatly enhance your trading results. All these online Forex tools are totally free and can be used at no cost:
MT4 Expert Advisors — Download free expert advisors for a Metatrader 4 trading platform. Test and use these EAs to empower your automated Forex trading and also to help the developing of your own Metatrader expert advisor or Forex strategy.
MT4 Forex Indicators — Free downloads of the MetaTrader indicators for a Metatrader 4 trading platform. You can use these indicators to improve your Forex trading strategy or develop your own MetaTrader 4 expert advisors.
Pivot Points Calculator — Four online web based pivot points calculators will help you to generate pivot points for any given time period. Pivot points are used to as the most important market trend points, where trend can meet support or resistance and actually change its course. Floor, Tom Demark's, Woodie's and Camarilla pivot points building rules are available with this free calculator. You don't need to download any software, just fill the form and get instant pivot point, resistance and support levels.
Pip Value Calculator — How much is one pip? How about EUR/CHF or CAD/JPY? With this free and fast online tool you can find out the value of 1 pip in USD for any lot size and any major or cross currency pair. Fill the form and get the pip value in one moment. No need to download any software!
Fibonacci Calculator — The web based Fibonacci retracement calculator will help you to generate basic Fibonacci retracement values for any given trend. These retracement values can be used as the most natural points of support and resistance for a given trend for any currency pair. On the currency trading market, the use of Fibonacci retracement levels to set orders and targets is one of the best ways to organize trader's portfolio.
Risk and Reward Forex Calculator — online calculator that will help you to find out the risks and rewards associated with your possible position's targets and stop-losses based on the Fibonacci retracement levels of the current market wave.
MetaTrader VPS hosting — special dedicated hosting for your MetaTrader (and usually any other) Forex platform and expert advisors. A good way to keep your strategy always active independently on your home or work PC.
Forex and commodity trading is always conducted on "margin". This means that a cash deposit, usually much smaller than the underlying value of the currency or commodity contract, is required in order to trade.
For example, a broker might require only $1,000 in the trader's account in order to trade a $100,000 currency position. The $1,000 is referred to as "margin". This amount is essentially collateral to cover any losses that you might incur. Since nothing is actually being purchased or sold for delivery, the only requirement, and indeed the only real purpose for having funds in your account, is for sufficient margin.
Margin should reflect some rational assessment of potential risk in a position. For example, if a currency is very volatile, a higher margin requirement would normally be justified. One common rule of thumb is a worst-case one day move in the market. So if a $100,000 currency position is unlikely to move by more than 1% (or $1,000) in a 24 hour period, a $1,000 margin requirement is probably reasonable. If, however, the currency or commodity in question is highly volatile and is likely to move by, say, $3,000 or more (or 3%, as is often the case with certain NASDAQ stocks and some commodities) it would put the broker at increased credit risk to require only a $1,000 margin deposit.
Note that margin available in your trading account is based on account equity, not account balance. The equity is the most accurate measure of the value of your account, as it takes into account unrealized gains or losses.
With a GCI forex account, clients can never lose more than their deposited funds. Other brokers may have other policies with respect to satisfying margin requirements.
A "pip" is the smallest increment in any currency pair. In EURUSD, a movement from .8941 to .8942 is one pip, so a pip is .0001. In USDJPY, a movement from 130.45 to 130.46 is one pip, so a pip is .01. How much in dollars is this movement worth, for example, per 10,000 Euros in EURUSD? How much is one pip worth per 10,000 Dollars in USDJPY? We will refer to the size, in this case 10,000 units of the base currency, as the "Notional Amount". The formula for calculating a pip value is therefore:
(one pip, with proper decimal placement/currency exchange rate) x (Notional Amount)
Using USDJPY as an example, this yields:
(.01/130.46) x USD10,000 = $0.77
or 77 cents per pip
Using EURUSD as an example, we have:
(.0001/.8942) x EUR10,000 = EUR 1.1183
But we want the pip value in USD, so we then must multiply EUR1.1183 x (EURUSD exchange rate):
EUR 1.1183 x .8942 = $1.00
This is in fact a phenomenon you will see with any currency in which the currency is quoted first (such as EURUSD, GBPUSP, or AUDUSD): the pip value is always $1.00 per 10,000 currency units. This is why pip (or "tick") values in currency futures, where the currency is quoted first, are always fixed.
Approximate pip values for the major currencies are as follows, per 10,000 units of the base currency:
USD/JPY: 1 pip = $.77; In other words a change from 130.45 to 130.46 is worth about $.77 per $10,000.
EUR/USD: 1 pip = $1.00; .8941 to .8942 is worth $1.00 per 10,000 Euros.
GBP/USD: 1 pip = $1.00; 1.4765 to 1.4766 is worth $1.00 per 10,000 Pounds.
USD/CHF: 1 pip = $.59; 1.6855 to 1.6866 is worth $.59 per $10,000.
KARACHI: State Bank of Pakistan (SBP) bought back 43.03 billion rupees ($534.40 million) of Treasury bills on Saturday under seven-days reverse-repo contracts at13.01 percent to inject liquidity into a tight money market.
WASHINGTON: The US budget deficit accelerated in March to hit a record nearly one trillion dollars just halfway through the current fiscal year, as the government moved to bail out troubled institutions, government data has shown. The deficit for the first six months of the fiscal year which began on October 1 was 956.80 billion dollars, according to the Treasurys monthly statement of receipts and outlays. Receipts during the six-month period to March 2009 were 989.83 billion dollars while outlays amounted to nearly 1.95 trillion dollars, the data showed. The March deficit of 192.27 billion dollars was higher than the 160 billion dollars expected by most analysts, coming on the back of money poured by President Barack Obamas administration to rescue financial institutions. All six months of the fiscal year so far recorded red ink. The last time the United States plunged into a consecutive six month deficit was during the October 2003-March 2004 period, officials said. The nonpartisan Congressional Budget Office (CBO) forecast last month the budget defi
cit could hit 1.845 trillion dollars for the whole year based on Obamas 3.5-trillion-dollar budget plan approved by Congress early this month. The CBO said its budget deficit estimate for fiscal 2009, which ends on September 30, would be four times the 2008 record shortfall and amount to 13.1 percent of the countrys total economic output. The Obama budget forecasts a 1.750 trillion dollar deficit in fiscal 2009, but foresees that figure falling to 1.171 trillion dollars in 2010. The plan sees the deficit soaring to the largest percentage of gross domestic product since World War II, but the president touted a string of cost savings designed to lay new foundations for the US economy. It also includes an optimistic forecast that the struggling US economy will post robust growth next year, projecting a 1.2 percent contraction in calendar 2009 but an expansion of 3.2 percent in 2010. The presidents plan includes investment in renewable energy, education, health care reform and is targeted to cut the deficit in half by the end of his current term in 2013. Republican lawmakers have labeled the plan "a road map to disaster," but Obama said that "by making hard choices and challenging the old ways of doing business, we will cut in half the budget deficit we inherited within four years." The Treasury data Friday showed the administration used 293 billion dollars under the Troubled Asset Relief Program (TARP) to keep financial institutions afloat while another 60 billion dollars was injected into ailing mortgage finance giants Fannie Mae and Freddie Mac. Nearly 120 billion dollars was also spent by the Treasury to purchase home mortgage securities, the data showed. A US home mortgage meltdown triggered financial turmoil stemming from soured mortgage based securities that led to the collapse last year of financial institutions, including US investment banking icon Lehman Brothers, and slammed the brakes on growth. The economy plunged into recession in December 2007.
For traders looking for robust trading tools and up to the second position and account information, FOREXTrader.java allows you to trade and manage your positions in a real time, web-based environment. This flexible platform is designed to run on both PCs and Mac as well as on various web browsers. 
Designed for active traders looking for an edge, this Windows-based platform offers a rich user interface in a highly customizable trading environment for maximum performance. Enhanced charting functionality and sophisticated order management tools help you to manage your positions quickly and efficiently.
Decode price charts more effectively and find trading opportunities faster.
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Develop custom trade set-ups to try that match your goals
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Analyze potential trades more efficiently, before you pull the trigger
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Let us help you customize your charting packages
Stay on top of the markets and refine your skills as you trade.
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Benchmark your progress over time for ongoing improvement
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Identify your weaknesses and optimize your strengths - as a trader
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Stay informed on market action and trading opportunities - personalized to your interests
Get familiar with our resources and advance your skills.
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Develop a basic trading plan, tailored to your goals and risk tolerance
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Learn how to get the most out of FOREX.com research and resources
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Get your questions answered by a dedicated professional
Learn forex essentials plus trading strategies, and tips for intelligent risk management. Study on your own online and benefit from access to a dedicated Forex instructor. You'll learn how:
To anticipate and react to major announcements and events.
To recognize trading patterns and detect trading opportunities more effectively using technical tools.
Core risk management concepts and strategies.
This online course is ideal for students who want a quick introduction to forex. Seven web-based lessons will teach you.
Basic terms and concepts, like pips, major and minor currency pairs.
How to develop a personal trading plan using the tools and resources available.
Fast-track your forex skills - free of charge.
Before diving into the world's most traded market, FOREX.com invites you to attend a free 90 minute informational seminar, Getting Started in Forex.
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Led by our seasoned forex traders, these workshops bring you practical insider advice on trading the currency markets. You'll walk away from these sessions with an understanding of:
A primer for getting started in forex trading, a discussion built to introduce the concept of currency trading.
How to use FOREXTrader to test trading strategies through a personalized walkthrough.
Technical tactics to identify trading opportunities using ForexCharts by eSignal, an advanced charting tool.
Reading price charts for key trend formations - and translating them into trading opportunities.
Also, get a preview of Strategies in Forex Trading, FOREX.com's advanced training workshop for current live clients. Drawing on real-world trading experiences, FOREX.com will help you get up to speed quickly and effectively.
Currency Trading For Dummies by Mark Galant and Brian Dolan
Mastering the Trade by John Carter
ForeX Trading for Maximum Profit: The Best Kept Secret Off Wall Street by Raghee Horner
Getting Started in Currency Trading : Winning in Today's Hottest Marketplace by Michael Archer & Jim Bickford
Technical Analysis of the Financial Markets : A Comprehensive Guide... by John Murphy
Come Into My Trading Room: A Complete Guide to Trading by Alexander Elder
Forex Revolution : An Insider's Guide to the Real World of Foreign Exchange Trading by Peter Rosenstreich
A Complete Guide to Technical Trading Tactics : How to Profit Using Pivot Points, Candlesticks & Other Indicators by John L. Person
Japanese Candlestick Charting by Steve Nison
Technical Analysis from A to Z, 2nd Edition by Steven B. Achelis
Hedge - A position or combination of positions that reduces the risk of your primary position."Hit the bid" - Acceptance of purchasing at the offer or selling at the bid.
G7 - The seven leading industrial countries, being US , Germany, Japan, France, UK, Canada, Italy.Going Long - The purchase of a stock, commodity, or currency for investment or speculation. Going Short - The selling of a currency or instrument not owned by the seller. Gold Certificate - A certificate of ownership that gold investors use to purchase and sell the commodity instead of dealing with transfer and storage of the physical gold itself. Gold Contract - The standard unit of trading gold is one contract which is equal to 10 troy ounces.Gross Domestic Product - Total value of a country's output, income or expenditure produced within the country's physical borders. Gross National Product - Gross domestic product plus income earned from investment or work abroad.Good 'Til Cancelled Order (GTC) - An order to buy or sell at a specified price. This order remains open until filled or until the client cancels.