- What Is Forex?
- Can I Trade on Forex?
- What Are Experts Advisors?
- What is My4xStore?
- How do I create an account?
- How do I view and manage my stats and details?
- How do I purchase products?
- How to choose the right robot?
- How do I become an affiliate?
- How do I create an affiliate link?
- Why are there two types of affiliate links?
What Is Forex?
The foreign exchange market (Forex or FX) is a global marketplace where currency trading takes place. Currently it is one of the largest and most liquid financial markets in the world and includes trading between banks, currency traders, corporations, governments, and other institutions and individuals. The average daily volume in the global foreign exchange is continuously growing. In 2007 it was reported that over $3.2 trillion were traded daily on the Forex market.
There is no unified or centrally cleared market for the majority of FX trades, and there is very little cross-border regulation. Due to the “over the counter” nature of currency markets, it is rather a number of connected marketplaces, than a single market. That is why there is not a single exchange rate, but a number of different rates. The main trading centers are: London, New York and Tokyo, but Hong Kong and Singapore are also very important. Currency trading takes place continuously throughout the day; when the Asian trading session ends, the European session begins, followed by the North American session and then back to the Asian session. Forex market is open 24 hours a day, 5 days a week, excluding weekends.
On the FX market currencies are traded one against another. Each pair of currencies constitutes a different, unique product. The price of the first currency in the pair is expressed in the second currency in the pair. So if we see EUR/USD and the price 1.6161 it means that the price for 1 euro is 1.6161 dollars. The most frequently traded pairs are those involving dollars, euro, yen and sterling. The most popular pairs are EUR/USD, USD/JPY and GBP/USD.
There are several possible financial instruments on the FX market and those are:
- swap – the most common and most forward transaction type, where two parties exchange currencies for a certain period of time and agree to reverse the transaction at a later date
- spot – a two day delivery transaction the trade represents a direct exchange between two currencies and has the shortest time frame
- forward – one-way transaction, where two parties agree on a transaction on a future date, regardless of what the market prices are by that date
- futures – foreign exchange futures are exchnge traded forward transactions with standard contract sizes and maturity dates
- options – the market where the owner has the right, but not the obligation to exchange money denominated in one currency to another currency at a pre-agreed exchange rate; this is the deepest, largest and most liquid market in the world.
Can I Trade on Forex?
Yes, the Forex market is open to individuals over the age of eighteen. Thanks to telecommunication technological advancement virtually anyone with Internet access anywhere in the world can become a trader. Trading can be conducted anywhere - in the office, at home, even when you are away from the computer. Forex trading can be easily comprehended and understood without prior knowledge in economy or finance. Any person can participate in the market and some brokers allow you to start with as little as US$ 25. Moreover, the leverage offered by brokers lets you control a large enough position to trade from very small market movements.
Trade on Forex is accessible through the Internet with use of special programs - trading terminals or platforms. If you wish to trade on the Forex market, you will need to open an account with the broker of your choice and download a free terminal. It only takes a few moments to set up the program and get it running.
While Forex is open to almost everyone, a successful trader must avoid several common pitfalls, such as:
- trading too frequently or opening too many positions at once
- lack of discipline and consistency in one's trading
- irrational gambling instead of taking only responsible risks
- trading against one's better judgement
- letting emotions like greed or fear take control
To avoid these typically human errors, it is better to use automated trading systems called "Expert Advisors".
What Are Experts Advisors?
An Expert Advisor (EA), is a program that monitors the forex market and automatically trades in your behalf. It analyzes the market looking for specific conditions. When the conditions are met it can open, modify and close your trading orders. An expert advisor runs 24 hours a day, 365 days a year. And you keep all the profits for yourself.
There are several reasons why both beginners and experienced traders can benefit from using Expert Advisors:
- Expert Advisors are consistent. They stick to the plan and the settings you have developed into them no matter how uncertain the market looks or how you may feel about the market at a particular point of time. An EA can eliminate the negative human aspects of trading which include fear, greed and inconsistency in trading.
- Expert Advisors free you up from physically having to watch and analyse the charts to find a signal to enter or exit trades. They do this automatically for you so you don't have to sit in front of your computer all day. Therefore you can spend more time on actually developing your trading strategies, doing back tests etc.
- Expert Advisors can monitor many markets at the same time, giving you access to far more trading opportunities than you can physically find and analyse by yourself.
What is My4xStore?
Here in My4xStore we have gathered a set of carefully selected Expert Advisors, including some newest strategies from the producers of the well known Pips Miner EA. By creating your free account at My4xStore you can conveniently manage your purchases and licenses. All in one place, no more wandering from site to site. In case your file is lost or damaged, you can always download it again from your Account at this website with no additional costs.
If you're a Forex affiliate, My4xStore will provide you with easy ways to manage your affiliate links and campaigns. Just log in to your account and you will find all your sales statistics and promotional materials, presented in a clear, concise manner.
How do I create an account?
Before you start using our website, whether as a customer or an affiliate, you need to register a user's account first. To do this, simply visit our registration page, choose your username, enter your e-mail address and password , and finally read and confirm Terms & Conditions. Please note that your username must be at least 6 characters long, you can use small and big letters, numbers and the following special characters: $ _ + - *. When you are done, click "Proceed".
How do I view and manage my stats and details?
After you log in to your account, you will see seven tabs containing all your customer and affiliate details. Here is a short description of what each of these tabs contains:
Customer - the list of your purchased licenses. Here you can also upgrade your EA trial copies to full versions. In case your file is lost or damaged, you can download it here again at any time with no additional costs.
Transaction history - this tab contains information about all your transactions within the site.
Personal details - here you can update any changes to your contact details, billing address and mailing address. You can also change your password.
Bank details - here you can specify which bank account you would like to withdraw your affiliate earnings to.
Affiliate - under this tab you can check the status of your affiliate commissions and withdraw your earnings.
Campaigns - here you can create, modify and cancel your Affiliate campaigns. To create a new campaign, click on the “Add new campaign” button. Choose a name for your campaign and pick products you want to include in it. When you choose a product, a new affiliate link will be generated.
Statistics - this tab allows you to easily track your affiliate campaigns.
How do I purchase products?
Select a product from our catalogue or click "Buy Now" button on a product's webpage. If you already have an account at My4xStore, you will be asked to log in, otherwise please register a new account. If you have a valid bonus code related to the product that you are about to purchase, please enter the code in the "Bonus code" field. The bonus will be deducted from the item's price.
Then, choose your payment method: Credit/Debit Card, Paypal or Moneybookers. Enter all necessary details, accept the User Agreement and click Next. You will be presented with a summary of your purchase. Check all data and click on the Pay Now button to finalize the transaction.
How to choose the right robot?
The first thing it to determine how much money you want to dedicate to trading. Forex can be a fruitful source of an extra income, but you must not risk your possessions to profit from it. Involve an amount of money that you can afford. Now when you know the size of your trading account, you can start lookin for a decent forex robot.
Please go to oue catalogue and read carefully all the descriptions of the forex advisors to pick up the one that suits you. If you intend to start trading on a mini or micro account, look for a robot that won’t kill your account. If you are going to trade on an account of $100,000, you can go for something involving more risk.
And also remember that a forex robot is not effective forever, because of the constant changes on the market. So if you feel that your robot does not work as it used to or starts losing a lot of money, put it aside for some time or attach it to a demo account and use another robot. And remember – using a robot does not necessarily mean that you should not monitor the market manually or evnt trade manually. It always helps. You are the one who knows the goal and what you would like to achieve.
How do I become an affiliate?
Joining the My4xStore.com affiliate community is as easy as 1,2,3!
All you need to do is go to www.My4xStore.com, locate the login box in the top right corner of the page, and click on the “Register” button. You will get redirected to a web page with the registration form.
Type in the desired username, email address and password. Remember that you need to confirm both your email address and password before you can proceed. To finalize the registration process, click on the “Proceed” button. My4xStore system does not require account activation, so you're ready to use your account!
How do I create an affiliate link?
Watch video tutorial.
Log in to My4xStore and choose the "Campaigns" tab from the navigation bar. Click on the "Add campaign" button located in the top-left corner of the website to add a new campaign.
Name your Campaign and select products you wish to advertise from a dropdown menu. Each time you pick a product, you have to confirm your choice by clicking the “Add” button. As soon as you add a product to your Campaign, you generate an affiliate link which you then can use to advertise our products.
Why there are two types of affiliate links?
Watch video tutorial.
The links that you've generated will lead to a predefined website address. If you add single products to a campaign, your affiliate links will lead to the product's independent website and will generate you a commission only on a purchase of the product you promote with the link.
If you choose to generate a link for an item called “All My4xStore.com Products”, the link will direct all the traffic to the My4xStore.com product catalog and you will get commission from ANY purchase made by your customer in our shop.
If you want to check what commission you can get, click here.