The Importance of Forex Signals to Traders

There are a lot of things that you have to know about when you enter the industry of forex trading. One of these is forex signals, which is also called trade signals or forex exchange

signals. When you are able to comprehend what these signals are all about, it will be easy for you to comprehend other forex details. Generally, trade signals are feeds of information which come from various trading sources. In the late 19th century towards the 60’s, these signals have been usually communicated by way of ticker gadgets which utilize a telegraph. This method is followed by the radio and telephone. Most of the sent data is comprised of price quotes for currencies or stocks for a given time period. The data is limited because of the limitations of their technology.
As technology keeps on advancing, computer networks have been incorporated with the tickers. With this development, there have been different types of data available for forex traders to study, analyze, and use. However, only the traders with enough capital have been able to gain access to these computer networks. But for the past years, small capital traders have been able to access information on trade signals. This is due to the lessened prices and greater accessibility of computer networks. This is paired with the high level of Internet technology for several years now. If you want to obtain forex signals from the most reputable companies, you can look them up through the directory of forex Listing.
Forex Listing is a one-stop website where you can find links to numerous providers and companies. These providers and companies can supply you with various information regarding matters within the forex market, with the inclusion of forex signals. When you avail of the services of a specific organization, you will be supplied with a trading system or model. Either of these is able to indicate the direction of the market trend. On the other hand, you will be provided with constant updates, live price quotes, and free or charged chart analysis. There are some companies which offer intra-day 24 –hour trend charts to its clients. These charts will be given for four primary currency pairs, such as the pairing of the Euro and the dollar. You can receive forex signals through your mobile phone or your pager. This is very convenient if you have other things to do besides wait for possible buy and sell signals.

Forex Listing has links to companies which offer more than forex signals. When you look up its directory, you will be able to search for central banks. These banks belong to categories like international economic organizations, major central banks, reserve banks within the United States, and world central banks. If you want to look for forex brokers, you can widen your search globally. Or else, you can limit it within your country or your continent. Forexlisting.com also provides analysis forecasts and charts. You can even find currency conversion tables and calculators from different providers. What is more, you will be able to avail of education or training if you want to know more about forex trading.

My FOREX Trading Strategy

I ventured into the Forex market a little more than 1 year ago. I have tried and tested many different types of trading techniques and styles. Most were failures and some were successful. From my experience, traders making money in Forex will not reveal their trading system, simply because somebody has to lose money in order for you to make money.
Currently I have two strategies working for me. I started with a demo account a little more than one year ago and used the obvious techniques such as technical analysis and fundamentals. Technical analysis seemed to be the easiest method for an inexperienced trader since it only required looking at charts as opposed to watching the news. I used indicators such as MACD, Fibonacci, and RSI to help assess the market and make a prediction on price movement. Needless to say I was successful in my demo account, however when I went live, fear set in and I could not trade using the same techniques I had developed over 4 months of trading with a demo account.
The stress was too much and like a lot of people, I started looking for a Forex signals provider to minimize the time spent and stress. After some due diligence on quite a few Forex signals providers, I did find a reliable Forex charting software package that provided excellent signals. To my surprise, the signals worked. The only difficult part was to discipline myself to take each signal whether I agreed with it or not. After all, the company I chose had a winning track record for 3 consecutive years.
Now that I had a positive flow of income from a Forex signals provider, I decided to open a second account using my own trading system. This is where I discovered what I feel is a full proof system when it comes to making a fast 30 to 50 pips in Forex.
Trading now for a little more than 1 year, I noticed that the market moved on speculation. Speculation based on fear and news events, such as the CPI and retail sales. I noticed that between the times of 4:30 am eastern and 8:30 am there was a lot of critical news in majors such as the Euro and the British Pound. The market would move at the exact moment these major news events were released. If a news event was due out at 4:30 am on the British Pound, more than likely the market spiked at that exact moment 30 to sometimes 50 pips up or down. What I started to do was trade on these news events. I would wait until that exact moment the news was due out and execute a trade when the market moved more than 7 pips from its current price 15 seconds before the news is released. A stop-loss should be set at 10 pips above or below the current price.
The trick to this method is executing the trade at the right time and discipline yourself to keep your stop-loss very tight, setting it to no more than 10 pips after you got into the trade. The reason being, this works all of the time, but if you click too soon or too late you could fail to predict the direction of the market. However, when you are right, your winning trades will outweigh your losing traders significantly since you are looking to make a gain of 30-50 pips and if you a wrong a loss of only 10 pips. I have used this method for 5 months and it works

Last Few Months of FOREX Market

EUR/USD at October Levels as Retail Sales Rise
December 11th, 2009
The EUR/USD currency pair dropped to the lowest levels since early October today as the fundamental indicators in U.S. showed that the country is performing better than the traders and the investors expected previously. Although the Wall Street is trading quite mixed, the dollar is performing well against everything on Forex. EUR/USD is now trading near 1.4606.

U.S. export and import prices increased by 0.8% and 1.7% respectively in November. This price growth surpassed the last month’s gains by 0.2% and 0.8% respectively.

Retail sales report was a real surprise today — the sales increased by 1.3% in November after rising by 1.1% in October (revised down from 1.4%), while the median forecast for this indicator pointed at only 0.6% growth. It looks like the consumers are becoming more willing to spend as they feel that the crisis is over.

Business inventories rose by 0.2% in October, following 0.5% drop in September (revised from 0.4% drop) and 0.2% drop forecast for October.

Tags: business inventories, export and import prices, retail sales
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EUR/USD Falls Slowly, Fundamentals Are Pro Dollar
December 10th, 2009
EUR/USD posted little daily volatility compared to the recent trading days today despite some interesting macroeconomic statistics coming out throughout the world. While the weekly jobless wasn’t very favoring for the greenback, the budget and trade balance deficits were better than expected and could help the dollar to grow against the euro. Anyway, EUR/USD dropped slightly today and is now trading near 1.4719 after opening at 1.4738.

Initial jobless claims increased to 474k last week in U.S. — up by 17k from the week before (457k). The forecasts were for a down move to 455k for this weekly employment indicator.

U.S. trade balance deficit declined from $35.7 billion to $32.9 billion in October. The exports grew faster than the imports. The average forecast value for the deficit was at $36.7 billion.

Treasury budget report for November showed a deficit of $120.3 billion — down from $176.4 billion deficit reported for October and also below $125.2 billion deficit reported for November 2008. The market analysts expected a deficit at $135 billion.

Tags: budget deficit, initial jobless claims, trade balance
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Forex Expert Advisor on Customizable Moving Average Cross
December 9th, 2009
Today I’ve finished the tests of both versions of my new MetaTrader expert advisor and uploaded it to the site. It’s called Adjustable MA and is available for MT4 and MT5. It allows a rather deep customization of the moving averages and other parameters of the EA. It’s a rather basic expert advisor that trades on a cross between two moving averages. The interesting part is that you can modify many parameters, making it quite a useful tool for the Forex geeks.

The back-test of this wasn’t very interesting. I’ve optimized it in the MetaTrader strategy tester to find the best parameters, but the back-tests aren’t very reliable for this kind of expert advisors. You can see the balance graph of the 1-year test here (the test was conducted on EUR/USD M5 chart):



I also forward-tested this EA for several days and found that it works fine with more logical parameters and with other currency pairs too.

You can also view the complete testing report. Go directly to Adjustable MA expert advisor page to download this EA or get more information about it. If you don’t like Adjustable MA, you can check other MetaTrader expert advisors.

Tags: download, MetaTrader expert advisors, moving average, MT4, MT5
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EUR/USD Stops Falling Higher Oil
December 9th, 2009
The dollar stopped growing against the euro today as the Forex market reacted on the growth of the oil price with the decrease of the inventories. The rising U.S. stock markets also helped EUR/USD to recover. The currency pair is now trading near 1.4747 after falling as low as 1.4667 intraday.

Wholesale inventories increased by 0.3% in October, following 0.8% drop a month earlier (revised from 0.9% drop). The indicator was expected to decrease by 0.5%.

U.S. crude oil inventories lost 3.8 million barrels last week. During the same week, the total motor gasoline inventories gained 2.2 million barrels. Both are still above the upper limit of the average range for this time of year.

This Monday a report on consumer credit was released for the month of October. Total credit amount decreased by $3.5 billion, which is better than $8.8 billion drop in September (revised positively from $14.8 drop). The average forecast was at $9.4 billion decline.

Tags: consumer credit, crude oil inventories, wholesale inventories
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Otkat Pull-Back EA — Now in MetaTrader 5
December 8th, 2009
I’ve done my first conversion of the MT4 EA to MT5. Although it’s not my first EA written for MT5 (the first one was AUD/JPY Wednesday 15:00), it’s the first one converted. I must say that I was quite pleased with the MQL5 and the whole MetaTrader 5 during this conversion process. The pull-back expert advisor Otkat doesn’t use any hedging or position pyramiding and is quite simple for MT5 to handle. While the resulting code’s size become bigger in the new version, the readability, along with some other things, is much better now. So, here is the list of new features for Otkat:

Better and cleaner code
Description displayed in MT5 when EA is attached
Proper types of the input parameters
Works properly with all timezones (this was also implemented for MT4 version)
No garbage code
Proper work with 5/3-digit quotes
You can get the code of MT5 version or read more info about the expert advisor.

Tags: expert advisors, MT4, MT5
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Unresolved Function in MT5
December 8th, 2009
After the latest update of the MetaTrader 5 terminal beta (to build 228) the new error appeared in the newly recompiled expert advisors. When adding an EA to a chart an ”Unresolved Function” error is displayed in the Experts output tab and the EA isn’t attached (even the input parameters dialog doesn’t appear):



The error appears only for those expert advisors that were compiled after the update to build 228. It looks like the error is caused by the declaration calls of MqlTradeRequest object, which is required to send trading orders/trades to the system. EAs can’t function without such objects. Of course, it’s only a beta testing period for MT5, but with such errors it’s now impossible to test any new MT5 expert advisors or use the updated EAs. The only thing traders and developers can do now is to wait for the new build of MetaTrader 5 platform to be released.

Update: This error was solved the next day in the build 229 release of MT5 beta.

Tags: error, expert advisors, MetaTrader, MT5
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Easy Trend Visualization in MT5
December 6th, 2009
Added an MT5 version of the Easy Trend Visualizer MetaTrader indicator to the site today. It has almost the same functionality as an MT4 version. The conversion process was rather painful with this indicator and it was the first time I really hated new MQL5 and MT5. Not only the code became more bulky after the conversion, but also the MT5 indicator display system wouldn’t allow doing the same things that MT4 allowed to do easily, in sense of the visualization. It resulted in two main disadvantages compared to old indicator version:

More indicator buffers to do the same things
The support/resistance lines have ugly vertical appendages
On the bright side, I’ve finally found out that the order of elements in the indicator buffers can be inverted (to make it the same as in MT4) by simply calling ArraySetAsSeries() function in the OnInit() event handler. That can really help in the indicator development. Despite all the bad, there are two minor advantages in the MT5 version of Easy Trend Visualizer:

Description displayed when adding indicator to chart
Readable code
You can get the code of MT5 version or read more info about the indicator.

Tags: MetaTrader indicators, MT5, trend
2 Comments »

Forex Technical Analysis for 12/07—12/11 Week
December 5th, 2009
EUR/USD trend: hold.
GBP/USD trend: sell.
USD/JPY trend: hold.
EUR/JPY trend: hold.
GBP/JPY trend: sell.
Floor Pivot Points


Ultra-Surprise in Nonfarm Payrolls Pushes EUR/USD Down
December 4th, 2009
EUR/USD is currently showing the biggest daily drop since March 27 this year as the nonfarm payrolls report positively surprised the dollar bulls, giving a lot of confidence in the U.S. currency. The higher dollar sent the commodity and equity markets in the red zone despite the promising fundamental conditions. EUR/USD is now trading near 1.4833 after reaching as high as 1.5090 intraday.

Nonfarm payrolls were reported at -11k in November, following -111k in October (revised considerably from -190k). The median analysts’ forecast for this indicator was at -125k. As you see, the market participants didn’t expect such a drop in the unemployment decline rate. The latest report suggests that the new nonfarm workplaces may start to appear in few months. The overall unemployment rate dropped from 10.2% to 10.0%, while the expectation was that it remains at 10.2%.

U.S. factory orders rose by 0.6% in October, following 1.6% growth in September (revised positively from 0.9%). The consensus forecast for the latest release was at 0%.

Build a Forex Trading Account You Can Be Proud of

How can you increase the size of your Forex trading account and continue to make good profits from trading the Forex market? The following points will help prove this can be done.
The Forex market will move in one of three ways, up, down or sideways. Your challenge is to develop a strategy which covers all eventualities.
If you prefer to scalp for a few pips based on a higher value lot size and trading many times a day, then your Forex trading strategy will be developed to maximise this plan.
If you trade intra-day, then you might only place a handful of trades per day and look for a greater pip gain. This would mean a sideways moving market is not for you and you would make the decision not to trade.
With Forex trading, it is commonly agreed that knowing when not to trade is as important as knowing when to trade!
Go through the motions of building the foundations to your career. Paper trade first until you are consistently successful, comfortable and confident with your strategy. Use a Forex trading demo account next to get to know your Forex broker's trading platform which will be a great help when you start to trade a live account!
Do you know your risk to reward strategy?
This is the amount you are prepared to risk in order to make a gain and is typically based on a 3 to 1 ratio. So if your stop loss was 10 pips below your entry point for a long trade, you would expect your trade to achieve a minimum of 30 pips.
This takes care of the risk management of your trade but what about the risk to your Forex trading account? How can we best protect your hard earned money and trading capital?
Well, we look to use a similar ratio for this too. The thought process is not to risk more than 3 percent of your total Forex trading account size on each open position. So if you had $1000 in your trading account you would only risk a maximum of $30 on each trade. If your stop loss was 10 pips, that would mean you could trade at $3 per pip and if your stop loss was 15 pips your trade would be based on $2 per pip.
Can you see how this strategy means you will be in the market long enough (assuming you activate your stop loss) to learn about trading and how to make profits?
If you keep growing your Forex trading account size in this way, you will achieve a growing trading balance, whilst protecting your capital.
This way you will still be trading having kept your trading account in order - achieving more than 90 percent of all other traders! If you reach this stage, you would have done very well indeed!
So, with Forex trading, by knowing which way the market is moving, you can apply to right strategy to trade, or not. Once you have your trading plan written, you can start paper trading, progressing to opening a demo account with a good Forex broker and finally on to a live account. Make sure you understand the risk strategy and grow your trading account slowly.
This will ensure you build the foundations of your Forex trading account and be proud of what you have achieved!

FOREX : Make Money with Currency Trading

For those unfamiliar with the term, Forex (FOReign EXchange market), refers to an international exchange market where currencies are bought and sold. The Foreign Exchange Market that we see today began in the 1970's, when free exchange rates and floating currencies were introduced. In such an environment only participants in the market determine the price of one currency against another, based upon supply and demand for that currency.
Forex is a somewhat unique market for a number of reasons. Firstly, it is one of the few markets in which it can be said with very few qualifications that it is free of external controls and that it cannot be manipulated. It is also the largest liquid financial market, with trade reaching between 1 and 1.5 trillion US dollars a day. With this much money moving this fast, it is clear why a single investor would find it near impossible to significantly affect the price of a major currency. Furthermore, the liquidity of the market means that unlike some rarely traded stock, traders are able to open and close positions within a few seconds as there are always willing buyers and sellers.
Another somewhat unique characteristic of the Forex money market is the variance of its participants. Investors find a number of reasons for entering the market, some as longer term hedge investors, while others utilize massive credit lines to seek large short term gains. Interestingly, unlike blue-chip stocks, which are usually most attractive only to the long term investor, the combination of rather constant but small daily fluctuations in currency prices, create an environment which attracts investors with a broad range of strategies.
How Forex Works
Transactions in foreign currencies are not centralized on an exchange, unlike say the NYSE, and thus take place all over the world via telecommunications. Trade is open 24 hours a day from Sunday afternoon until Friday afternoon (00:00 GMT on Monday to 10:00 pm GMT on Friday). In almost every time zone around the world, there are dealers who will quote all major currencies. After deciding what currency the investor would like to purchase, he or she does so via one of these dealers (some of which can be found online). It is quite common practice for investors to speculate on currency prices by getting a credit line (which are available to those with capital as small as $500), and vastly increase their potential gains and losses. This is called marginal trading.
Marginal Trading
Marginal trading is simply the term used for trading with borrowed capital. It is appealing because of the fact that in Forex investments can be made without a real money supply. This allows investors to invest much more money with fewer money transfer costs, and open bigger positions with a much smaller amount of actual capital. Thus, one can conduct relatively large transactions, very quickly and cheaply, with a small amount of initial capital. Marginal trading in an exchange market is quantified in lots. The term "lot" refers to approximately $100,000, an amount which can be obtained by putting up as little as 0.5% or $500.
EXAMPLE: You believe that signals in the market are indicating that the British Pound will go up against the US Dollar. You open 1 lot for buying the Pound with a 1% margin at the price of 1.49889 and wait for the exchange rate to climb. At some point in the future, your predictions come true and you decide to sell. You close the position at 1.5050 and earn 61 pips or about $405. Thus, on an initial capital investment of $1,000, you have made over 40% in profits. (Just as an example of how exchange rates change in the course of a day, an average daily change of the Euro (in Dollars) is about 70 to 100 pips.)
When you decide to close a position, the deposit sum that you originally made is returned to you and a calculation of your profits or losses is done. This profit or loss is then credited to your account.
Investment Strategies: Technical Analysis and Fundamental Analysis
The two fundamental strategies in investing in Forex are Technical Analysis or Fundamental Analysis. Most small and medium sized investors in financial markets use Technical Analysis. This technique stems from the assumption that all information about the market and a particular currency's future fluctuations is found in the price chain. That is to say, that all factors which have an effect on the price have already been considered by the market and are thus reflected in the price. Essentially then, what this type of investor does is base his/her investments upon three fundamental suppositions. These are: that the movement of the market considers all factors, that the movement of prices is purposeful and directly tied to these events, and that history repeats itself. Someone utilizing technical analysis looks at the highest and lowest prices of a currency, the prices of opening and closing, and the volume of transactions. This investor does not try to outsmart the market, or even predict major long term trends, but simply looks at what has happened to that currency in the recent past, and predicts that the small fluctuations will generally continue just as they have before.
A Fundamental Analysis is one which analyzes the current situations in the country of the currency, including such things as its economy, its political situation, and other related rumors. By the numbers, a country's economy depends on a number of quantifiable measurements such as its Central Bank's interest rate, the national unemployment level, tax policy and the rate of inflation. An investor can also anticipate that less quantifiable occurrences, such as political unrest or transition will also have an effect on the market. Before basing all predictions on the factors alone, however, it is important to remember that investors must also keep in mind the expectations and anticipations of market participants. For just as in any stock market, the value of a currency is also based in large part on perceptions of and anticipations about that currency, not solely on its reality.
Make Money with Currency Trading on Forex
Forex investing is one of the most potentially rewarding types of investments available. While certainly the risk is great, the ability to conduct marginal trading on Forex means that potential profits are enormous relative to initial capital investments. Another benefit of Forex is that its size prevents almost all attempts by others to influence the market for their own gain. So that when investing in foreign currency markets one can feel quite confident that the investment he or she is making has the same opportunity for profit as other investors throughout the world. While investing in Forex short term requires a certain degree of diligence, investors who utilize a technical analysis can feel relatively confident that their own ability to read the daily fluctuations of the currency market are sufficiently adequate to give them the knowledge necessary to make informed investments.

Forex Made Easy for Everyone

Forex made easy is as simple as you would want it to be. The foreign exchange market is a worldwide market and according to some estimates is almost as big as thirty times the turnover of the US Equity markets. That is some figure to chew on. Forex is the commonly used term for foreign exchange. As a person who wants to invest in the forex market, one should understand the basics of how this currency market operates. Forex can be made easier for beginners to understand it and here's how.
Foreign exchange is the buying and the selling of foreign exchange in pairs of currencies. For example you buy US dollars and sell UK Sterling pounds or you sell German Marks and buy Japanese Yen. Why are currencies bought or sold? The answer is simple; Governments and Companies need foreign exchange for their purchase and payments for various commodities and services. This trade constitutes about 5% of all currency transactions, however the other 95% currency transactions are done for speculation and trade. In fact many companies will buy foreign currency when it is being traded at a lower rate to protect their financial investments. Another thing about foreign exchange market is that the rates are varying continuously and on daily basis. Therefore investors and financial managers track the forex rates and the forex market it on a daily basis.
Those who are involved in the forex trade know that almost 85% of the trading is done in only US Dollar, Japanese Yen, Euro, British Pound, Swiss Franc, Canadian Dollar and Australian Dollar. This is because they are the most liquid of foreign currencies (can be easily bought and sold. In fact the US Dollar is most recognizable foreign currency even in countries like Afghanistan, Iraq, Vietnam etc).
Being a truly 24/7 market, the currency trading markets opens in the financial centers of Sydney, Tokyo, London and New York in that sequence. Investors and speculators alike respond to the ever-changing situations and can buy and sell simultaneously the currencies. In fact many operate in two or more currency market using arbitrage to gain profits (buying in one market and selling in another market or vice versa to take advantage of the prices and book profits).
While dealing in forex, one should have a margin account. Quite simply put if you have US$ 1,000 and have a forex margin account which leverages 100:1 then you can buy US$ 100,000 since you only need 1% of the US$100,000 or US$1,000. Therefore it means that with margin account you have US$ 100,000 worth of real purchasing power in your hand.
Since the foreign currency market is fluctuating on a continuous basis, one should be able to understand the factors that affect this currency market. This is done through Technical Analysis and Fundamental Analysis. These two tools of trade are used in a variety of other markets such as equity markets, stock markets, mutual funds markets etc. Technical Analysis refers to reading, summarizing and analyzing data based on the data that is generated by the market. While fundamental Analysis refers to the factors, which influence the market economy, and in turn how it would affect the currency trading. Of course there are other economic and non economic factors which can suddenly affect the trading of the forex markets such as the 9/11 tragedy etc. One needs to have a shrewd acumen and a few number crunching abilities to strike gold in the forex market.

Internet Marketing VS Forex Currency Trading

Have you noticed that when someone's trying to sell you something — such as a system for making money — they always make it look far easier than it is?
Let's look at two Internet businesses, almost as diametrically opposed as it's possible to be — Internet Marketing and Forex Currency Trading.
You've probably heard the old Internet adage — build a better website and they will come. Well it ain't true!
You could put up a site advertising dollars for a dime and they still wouldn't come — because they wouldn't know where to look!
Let's look at what you need to have in place in order to build a successful Internet marketing business.
First of all, you need a product. If you've been reading the recent Internet marketing blurb you'll know you need a niche product.
Actually, the new thing is sub-niche but whatever they call it, you need a product for which there is high demand but low supply.
Finding a suitable niche is the hardest part of the whole process but let's say you have a killer product, what else do you need?
The List.
Ask any Internet marketeer and they will say that the most important part of your business is your opt-in list.
For people to join your list you usually have to give them something of value such as a free eBook or report on a subject related to your main product line.
To keep them interested, you need to keep in touch with them offering them additional information, advice and tips.
Website.
To promote your opt-in list you need a website (although there are other ways of promoting your list, too) with features that will encourage people to sign up to your list.
You also need a killer website with killer copy to describe — and sell — your killer product. This may or may not be the same as the one you use for your opt-in list.
Killer copy.
Maybe you're not a good copywriter. There are many eBooks on the subject that can help you or you can pay someone to write copy for you.
You need a domain name, preferably one with some relation to the product but good domain names are becoming increasing difficult to find.
Ads.
To get people to visit your website in the first place you need to register it with the search engines.
SEO (Search Engine Optimisation) is an art in itself. You can mug up on the subject or pay someone to do the job for you (but be aware that not all experts are!).
You might also want to place ads for your list in newsletters and ezines. The better ones will charge you although you might get a free ad in return for an article.
Autoresponder.
To automate your business you need an autoresponder. These clever devices automatically send emails to everyone on your opt-in list at predetermined intervals, and contain predetermined copy.
For example, you could create a series of emails containing, say, five parts of a free course to be sent one a day over the first five days.
Then emails would be sent once a week advertising a different product each time.
Whenever anyone signs up to your list they automatically start at the beginning so everyone gets the full cycle of marketing material.
We haven't even looked at affiliate sales and marketing but I'm sure you get the picture.
The basic idea of selling over the Internet sounds good but there's a lot more to it than most people realise.
Forex Currency Trading
Someone said that trading is the last frontier, the last place where men and women can stand up and pit themselves against the world.
It sounds very Wild Westish but most of it is true! You win or lose entirely by your own efforts and if you win, it's like having your very own bank.
However, even owning a bank is a business and you still have to work hard to put the money there — and to keep it!
Unlike Internet marketing where all your efforts, in one form or another, are geared towards making people join your list and then selling them stuff,
Currency Trading has no customers. That's worth repeating — with currency trading, you don't need customers.
No customers means you don't need any of the associated accoutrements that go with Internet marketing such as:

Products
Web site
Domain name
Opt-in list
Ads
eBooks and reports
Autoresponder
Any other marketing aids
So far so good, but what do you have to do and what do you need? Well, you need to know what currency prices are doing.
You can get a list of prices at the close of each trading day free from many web sites. If you want to trade during the day — intraday trading, you can get real-time prices for a nominal fee from several data suppliers.
In the foreign exchange currency market, commonly called forex, you can get this data and charting software free from many web sites.
Okay, that's the easy bit. In order to trade currencies, you need to analyse the data and determine which way price is heading.
In other words you need a system and this will require study and dedication.
There's lots of other stuff you have to know, too — trading terminology, margin, leverage, money management, order types, trader psychology and more.
But all of this is available in eBooks and courses and on the Net.
You also need some money upfront to fund your trading account. With forex you can begin with as little as $300-500 although you would be advised to start with more.
So while you don't have the ongoing quest for new customers, new products and inventive sales techniques, you do need some sort of education or training before you begin and you need discipline while you're trading.
For more information on getting started with forex currency trading, go to: www.webkept.com
Making money takes work whether it's online or off. Make sure you know what's involved before you start and remember that the more you put into a business, the easier it gets.