Now that you have downloaded your broker’s trading platform, you must install it before you can start using it. Navigate to the folder where you downloaded it to and click on the Streamster setup icon:
After installation is complete, you will find the Marketiva icon on the desktop.
Clicking on it launches the platform which asks for a username and password. After entering these, you may have to wait for a short while as a connection to the Streamster server is established and any required software update is made.
Finally you get the Streamster welcome screen:
Note: Yours may look slightly different because the visible tabs on this one have been modified but this is still basically what you’ll see the first time you login.
We will now look at how the Streamster software works and how trades are executed.
April 13, 2011
Install the Streamster trading platform, sign in and start trading
Now that you have downloaded your broker’s trading platform, you must install it before you can start using it. Navigate to the folder where you downloaded it to and click on the Streamster setup icon:
After installation is complete, you will find the Marketiva icon on the desktop.
Clicking on it launches the platform which asks for a username and password. After entering these, you may have to wait for a short while as a connection to the Streamster server is established and any required software update is made.
Finally you get the Streamster welcome screen:
Note: Yours may look slightly different because the visible tabs on this one have been modified but this is still basically what you’ll see the first time you login.
We will now look at how the Streamster software works and how trades are executed.
After installation is complete, you will find the Marketiva icon on the desktop.
Clicking on it launches the platform which asks for a username and password. After entering these, you may have to wait for a short while as a connection to the Streamster server is established and any required software update is made.
Finally you get the Streamster welcome screen:
Note: Yours may look slightly different because the visible tabs on this one have been modified but this is still basically what you’ll see the first time you login.
We will now look at how the Streamster software works and how trades are executed.
A word about Marketiva and the Streamster trading platform
When I first got into Forex, I started out with a broker who uses a web based trading platform which I found out to be unreliable. I later struggled with two other brokers/platforms until someone recommended Marketiva. The first time I used their system, I was so impressed by the serious difference in performance between them and the others which I had already tried. Indeed the difference was so striking that I wondered where they had been all this while.
As it turns out, I have been using Marketiva since December 2006 and so far their performance has been highly commendable and I have not found any reason to complain. The support is great, their commissions reasonable and spread is OK, their trade execution time is very good and they also allow for traders to trade with as little as $1 where other brokers generally would only accept a minimum balance of $250 upwards. They also make it very very easy for international traders who do not have access to US/European credit cards or bank accounts to deposit and withdraw money from their trading accounts.
My recommendation
Marketiva rates as one of the best international-user-friendly Forex brokers around. Their Streamster trading platform is undoubtedly the best that I have used. I therefore strongly recommend them especially for international forex traders (i.e. Forex traders that live outside the US).
Down to business
First I shall guide you in registering with the broker called Marketiva. Next we will download and install their Streamster trading platform and lastly I will explain some points about using the Streamster platform to trade.
As it turns out, I have been using Marketiva since December 2006 and so far their performance has been highly commendable and I have not found any reason to complain. The support is great, their commissions reasonable and spread is OK, their trade execution time is very good and they also allow for traders to trade with as little as $1 where other brokers generally would only accept a minimum balance of $250 upwards. They also make it very very easy for international traders who do not have access to US/European credit cards or bank accounts to deposit and withdraw money from their trading accounts.
My recommendation
Marketiva rates as one of the best international-user-friendly Forex brokers around. Their Streamster trading platform is undoubtedly the best that I have used. I therefore strongly recommend them especially for international forex traders (i.e. Forex traders that live outside the US).
Down to business
First I shall guide you in registering with the broker called Marketiva. Next we will download and install their Streamster trading platform and lastly I will explain some points about using the Streamster platform to trade.
In the past...
In the past, all of this communication was done mostly by phone but with the emergence of Internet technology, it is now possible to perform all of this back and forth communication automatically using software or web based applications. When using these applications, executing trades is very easy because all you have to do is click on buy/sell for that currency pair and your broker is notified immediately and the trade is therefore executed immediately too. All automatic!
These applications are known as Forex Trading platforms and each broker usually provides their own platforms that offer various other features besides the actual trading execution for the convenience of the user which is you the trader.
For this tutorial, we shall be using one of the most popular and reliable brokers in the business: Marketiva. The name of their trading platform is Streamster and it comes with several useful tools and features, a very easy to use interface plus a very friendly introductory offer for first timers that I have not been able to find elsewher.
These applications are known as Forex Trading platforms and each broker usually provides their own platforms that offer various other features besides the actual trading execution for the convenience of the user which is you the trader.
For this tutorial, we shall be using one of the most popular and reliable brokers in the business: Marketiva. The name of their trading platform is Streamster and it comes with several useful tools and features, a very easy to use interface plus a very friendly introductory offer for first timers that I have not been able to find elsewher.
The market, the trading platform, the broker and you
In Forex trading, individuals like you cannot enter the market on their own. There must be a middle man involved, this middle man is known as a Forex broker (similar to a stock broker).
A forex broker is usually a registered company or financial house that accepts trading requests from individuals and then performs these trades on behalf of the individual for a commission.
For example, let us say you, as an individual wish to buy the currency pair (also called instrument) of USD/JPY on the Forex market. This is how it happens: You inform your broker that you wish to buy so and so quantity of USD/JPY, your broker then connects to the main Forex market and executes this trade on your behalf (i.e. buys the currency pair that you specify). When you are now ready to sell this currency pair, again you notify your broker who performs the actual trade on your behalf.
Now I’m sure you are probably wondering how you are expected to communicate with your broker. You may also be wondering if all this back and forth communication between you, the broker and the market is not going to be tedious and time wasting because in Forex trading, a delay of as little as 0.1 second can prove disastrous.
Well, wonder no more because this is where the trading platform comes into play.
A forex broker is usually a registered company or financial house that accepts trading requests from individuals and then performs these trades on behalf of the individual for a commission.
For example, let us say you, as an individual wish to buy the currency pair (also called instrument) of USD/JPY on the Forex market. This is how it happens: You inform your broker that you wish to buy so and so quantity of USD/JPY, your broker then connects to the main Forex market and executes this trade on your behalf (i.e. buys the currency pair that you specify). When you are now ready to sell this currency pair, again you notify your broker who performs the actual trade on your behalf.
Now I’m sure you are probably wondering how you are expected to communicate with your broker. You may also be wondering if all this back and forth communication between you, the broker and the market is not going to be tedious and time wasting because in Forex trading, a delay of as little as 0.1 second can prove disastrous.
Well, wonder no more because this is where the trading platform comes into play.
Notes on signing up
Notes on signing up:
The sign up is made up of 4 stages. On the first page, you are asked to enter your personal information. Your password must be made up of letters and at least one number.
To save time, you can just fill only the questions that have the red asterisks and then click continue.
Next you will see the following screen asking you to choose a template:
On this page, leave User Template as “Standard Setup” and go to the bottom where it says “Recovery Question”, select any of the question options from the dropdown, enter an answer for that question as “Recovery Answer” and then click continue. The recovery answer should be something you can easily remember because in the event that you lose your password, you shall be required to provide this answer.
Next, you get this screen asking you to read and accept the Marketiva terms:
Make sure you read these and if you are OK, click on the checkbox (red circle) and then click “Finish”
The next screen that comes up will show that the account is being created so you will have to wait for a few seconds and if all goes well, a final screen appears after a few seconds with a direction to the download page of the Streamster trading platform
(NOTE: Apparently this platform is only available to Windows users according to this screen):
Click on “StreamsterTM Installation Package” (inside the red circle) to download the Trading platform. Note that your registration is complete even without downloading the platform at this stage, in fact by now a confirmation of your registration should have been sent to your email address.
If you are not ready to download yet, you can close this download page and come back to it at some other time by clicking on the “Get streamster” button on the navigation bar at the top of the website’s pages.
The sign up is made up of 4 stages. On the first page, you are asked to enter your personal information. Your password must be made up of letters and at least one number.
To save time, you can just fill only the questions that have the red asterisks and then click continue.
Next you will see the following screen asking you to choose a template:
On this page, leave User Template as “Standard Setup” and go to the bottom where it says “Recovery Question”, select any of the question options from the dropdown, enter an answer for that question as “Recovery Answer” and then click continue. The recovery answer should be something you can easily remember because in the event that you lose your password, you shall be required to provide this answer.
Next, you get this screen asking you to read and accept the Marketiva terms:
Make sure you read these and if you are OK, click on the checkbox (red circle) and then click “Finish”
The next screen that comes up will show that the account is being created so you will have to wait for a few seconds and if all goes well, a final screen appears after a few seconds with a direction to the download page of the Streamster trading platform
(NOTE: Apparently this platform is only available to Windows users according to this screen):
Click on “StreamsterTM Installation Package” (inside the red circle) to download the Trading platform. Note that your registration is complete even without downloading the platform at this stage, in fact by now a confirmation of your registration should have been sent to your email address.
If you are not ready to download yet, you can close this download page and come back to it at some other time by clicking on the “Get streamster” button on the navigation bar at the top of the website’s pages.
April 12, 2011
Part 1: Beginning Forex
Forex trading for individuals like you, as it is today, can mostly be done only on the Internet therefore, first and foremost you need to have access to the Internet. While it is of great importance that the connection is a high speed connection, it does not exactly mean that profitable trading cannot be done with a slow connection (but not too slow!) connection or from a cybercafé. It only reduces your chances of making the maximum profit and increases your chances of missing out on time dependent events.
Personally, I started trading from a cybercafé and was still able to make reasonable progress and raise money from my profits to get a better and more convenient Internet access.
So, with that settled, to begin Forex trading proper, you need to do a couple of things:
1. Register with a broker and Download their trading platform
2. Install the trading platform, sign in and start trading
Before I go ahead, I shall first explain to you what a broker is and what a trading platform is. Then I shall explain the relationship between you, your broker, your broker’s trading platform and the Forex market. Next I will show you how to register for a free account with $5 bonus, download the trading platform and learn how to trade using one of the most popular and possibly the best trading platforms available on the Internet today.
It is called Marketiva Streamster, it is undisputably the most popular trading platform among international forex traders), and it comes highly recommended by me.
Personally, I started trading from a cybercafé and was still able to make reasonable progress and raise money from my profits to get a better and more convenient Internet access.
So, with that settled, to begin Forex trading proper, you need to do a couple of things:
1. Register with a broker and Download their trading platform
2. Install the trading platform, sign in and start trading
Before I go ahead, I shall first explain to you what a broker is and what a trading platform is. Then I shall explain the relationship between you, your broker, your broker’s trading platform and the Forex market. Next I will show you how to register for a free account with $5 bonus, download the trading platform and learn how to trade using one of the most popular and possibly the best trading platforms available on the Internet today.
It is called Marketiva Streamster, it is undisputably the most popular trading platform among international forex traders), and it comes highly recommended by me.
What this tutorial covers
This tutorial only explains certain core aspects of the Marketiva Streamster trading platform. I have assumed that the reader already has a general idea of forex trading actions, terminology, events and trading rudiments.
To begin Forex trading proper, you need to do a couple of things:
1. Register with a broker and download their trading platform
2. Install the trading platform, sign in and start trading
This tutorial will explain what a broker is and show you how to perform the two actions above. It will also describe a very easy way to add funds to your trading account, monitor profits and withdraw money from the account.
And lastly, the tutorial shall offer some advice to first time traders and directions to important resources to get you off your feet in the shortest possible time.
To begin Forex trading proper, you need to do a couple of things:
1. Register with a broker and download their trading platform
2. Install the trading platform, sign in and start trading
This tutorial will explain what a broker is and show you how to perform the two actions above. It will also describe a very easy way to add funds to your trading account, monitor profits and withdraw money from the account.
And lastly, the tutorial shall offer some advice to first time traders and directions to important resources to get you off your feet in the shortest possible time.
Distribution notes
License
I have decided to release this tutorial under my own “license” and to use this document, you must abide to this license..
This tutorial is distributed for free. If it helps you or if you know someone who it might help, do not hesitate to send a copy to them.
This document must be distributed exactly as it is: complete with this license and without any modification. Any requests for permission to modify must be sent to tonyreji @ naijalive . net.
As it so happens (and quite happily too!), the trading platform and fund transaction methods described in this tutorial also run excellent referral programs. Therefore as a sort of compensation for the time and effort I put into creating and distributing this tutorial, I have used my affiliate referral links to these services and I encourage you to show some support by using these links.
Story
This is the very first draft of this tutorial. If it was an application then I would call this particular release beta1 :D I sincerely hope you get the joke).
In the future I plan to develop it into a full blown beginners guide but that would be done in stages.
The current version of this tutorial can be downloaded as a PDF file here :
OR viewed on the web here:
Who is this tutorial for?
This tutorial is meant for those who already know what Foex trading is but do not know exactly how to start the main trading proper.
Because I am Nigerian, I have inserted small bits of information targeted specifically at Nigerians. International readers may ignore these.
I have decided to release this tutorial under my own “license” and to use this document, you must abide to this license..
This tutorial is distributed for free. If it helps you or if you know someone who it might help, do not hesitate to send a copy to them.
This document must be distributed exactly as it is: complete with this license and without any modification. Any requests for permission to modify must be sent to tonyreji @ naijalive . net.
As it so happens (and quite happily too!), the trading platform and fund transaction methods described in this tutorial also run excellent referral programs. Therefore as a sort of compensation for the time and effort I put into creating and distributing this tutorial, I have used my affiliate referral links to these services and I encourage you to show some support by using these links.
Story
This is the very first draft of this tutorial. If it was an application then I would call this particular release beta1 :D I sincerely hope you get the joke).
In the future I plan to develop it into a full blown beginners guide but that would be done in stages.
The current version of this tutorial can be downloaded as a PDF file here :
OR viewed on the web here:
Who is this tutorial for?
This tutorial is meant for those who already know what Foex trading is but do not know exactly how to start the main trading proper.
Because I am Nigerian, I have inserted small bits of information targeted specifically at Nigerians. International readers may ignore these.
Why I wrote this Tutorial
This tutorial was inspired by the experience I had during the period when I first heard about Forex trading and how profitable it could be. The first time I heard about online Forex trading was from a newspaper article that I read. This article raised my curiosity with its promise of the prospects of earning a regular income from online Forex trading. In a country where employment rate ranges in the high 50% and Internet access being not so very far away, Forex seemed like the way out to all my problems.
So I went to the Internet to find out what I could and I was surprised at the sheer amount of information available on the subject. This made me very happy because I knew I could find out everything I needed to know so I started digging.
After a couple of weeks of regular research, I became satisfied with the amount of info that I had been able to gather, at least I now knew what Forex was, it’s history, how it really worked and numerous other tips on trading. At this point, I decided I was ready to begin but then I ran into a new problem which I had not realized before: I did not know exactly where to start.
Granted, I knew everything I needed to know for a beginner and I wanted to start performing the actual live trade and start making money, but I did not know WHERE EXACTLY TO BEGIN.
I kept asking myself:
“Now I know everything but where exactly the hell do I begin?”
“I know I need money to trade but who do I pay the money to? How exactly do I get MY money into the Forex market?”
And finally “When I start making money, how does it get to my hands at the end of the day?”
I searched high and low on the Internet for the answer to these questions but they were nowhere to be found.
This was when I realized that everybody on the Internet talks about Forex trading, making money, pips, trading tips etc but nobody remembers to show the absolute beginners or newbie newbies exactly where and how to start trading. What software to use to connect to the forex market, etc.
So this is why I decided to write this tutorial.
So I went to the Internet to find out what I could and I was surprised at the sheer amount of information available on the subject. This made me very happy because I knew I could find out everything I needed to know so I started digging.
After a couple of weeks of regular research, I became satisfied with the amount of info that I had been able to gather, at least I now knew what Forex was, it’s history, how it really worked and numerous other tips on trading. At this point, I decided I was ready to begin but then I ran into a new problem which I had not realized before: I did not know exactly where to start.
Granted, I knew everything I needed to know for a beginner and I wanted to start performing the actual live trade and start making money, but I did not know WHERE EXACTLY TO BEGIN.
I kept asking myself:
“Now I know everything but where exactly the hell do I begin?”
“I know I need money to trade but who do I pay the money to? How exactly do I get MY money into the Forex market?”
And finally “When I start making money, how does it get to my hands at the end of the day?”
I searched high and low on the Internet for the answer to these questions but they were nowhere to be found.
This was when I realized that everybody on the Internet talks about Forex trading, making money, pips, trading tips etc but nobody remembers to show the absolute beginners or newbie newbies exactly where and how to start trading. What software to use to connect to the forex market, etc.
So this is why I decided to write this tutorial.
The Process
1. Register with Marketiva.
Read this first:
On signing up, a bonus of $5 real money will be put in your account, plus $50,000 of practice money. With this, you can decide whether to perform trades using the practice $50,000 (demo account) or the real $5 (live account). The only difference between the two is that the live uses real money and the other uses dummy money therefore while the trades are exactly the same, only the profits (or losses) from the Live trades are real. The demo account is only meant for you to have something to practice with before venturing with real money.
When you put money into your account (called funding your account), it reflects in the Live account, similarly when you take out money, it is removed from the Live account. Money in the demo account cannot be withdrawn because it doesn’t actually exist.
It is STRONGLY RECOMMENDED that you start off practicing with your demo account before trying to use live money.
Note also that after registration, you will be required to provide certain documentation showing proof of identity. It is advisable, therefore, to get these ready so that when you get the request for identification, you can attend to it immediately. Failure to provide these documents will cause your account to be suspended until you provide them. For Marketiva, you will need to email them a scanned copy of the photo page of your International passport or driver’s license PLUS a copy of any utility bill like gas bill, electricity bill etc.
The passport/driver’s license is meant to ascertain your face and name, while the utility bill is used to confirm your address, therefore when signing up, make sure that the name you use matches what is on your passport/license and that the address you use matches what is on your utility bill.
Now that we know all this, click here to go to the sign up page and register for a Marketiva account.
Read this first:
On signing up, a bonus of $5 real money will be put in your account, plus $50,000 of practice money. With this, you can decide whether to perform trades using the practice $50,000 (demo account) or the real $5 (live account). The only difference between the two is that the live uses real money and the other uses dummy money therefore while the trades are exactly the same, only the profits (or losses) from the Live trades are real. The demo account is only meant for you to have something to practice with before venturing with real money.
When you put money into your account (called funding your account), it reflects in the Live account, similarly when you take out money, it is removed from the Live account. Money in the demo account cannot be withdrawn because it doesn’t actually exist.
It is STRONGLY RECOMMENDED that you start off practicing with your demo account before trying to use live money.
Note also that after registration, you will be required to provide certain documentation showing proof of identity. It is advisable, therefore, to get these ready so that when you get the request for identification, you can attend to it immediately. Failure to provide these documents will cause your account to be suspended until you provide them. For Marketiva, you will need to email them a scanned copy of the photo page of your International passport or driver’s license PLUS a copy of any utility bill like gas bill, electricity bill etc.
The passport/driver’s license is meant to ascertain your face and name, while the utility bill is used to confirm your address, therefore when signing up, make sure that the name you use matches what is on your passport/license and that the address you use matches what is on your utility bill.
Now that we know all this, click here to go to the sign up page and register for a Marketiva account.
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