Is there a good guide on when to enter and exit for forex trades?

I work for a bank and I still get quite nervous when entering trades. But I found a new software that is very useful. Forex Killer. It gives the forex signals for entering and exiting trades.

Maybe you can check Forex Killer out. It's not expensive. My office mates also like it.

There are plenty of guides, unfortunately most of them don't work.
You can look at reviews websites like http://www.forextopten.com/ so that you know what could work well for you.

I'll tell you the right answer, but it's probably not what you want to hear.

No offense, but if you are asking those questions, you should not be trading in Forex. FX is not for beginners, and even advanced traders lose fortunes in FX trading.

If your desire is to hedge the dollar or make money off of currency fluctuations, there are far better options than FX.

i.e., companies that benefit from currency change. Not only will you make money off the currency fluctuation, but you can possibly make additional gains because the company has other strong factors.

Another possibility is a foreign stock. You'll get the gains from the company, and additional gains from the fact that it's a rising currency when you switch back.

Try zorro trading guild
they make 600+ pips in January alone
Email me if you want

Yes. A list of Best Answers to this question are given here:

http://commonsensetrading . googlepages . com

Look for discussions on the "50% retracement rule."

http://www.forex.com/learn.html
Link will answer many questions and answers you should know. I have 3 accounts (never put all your money/eggs in one account/basket). You can start with $500 when you can afford to open account. Since you are just starting you will lose money if you don't learn the basics, first. #1 best tip, don't trade your real money until you try trading demo account. When you can trade a demo for about 2-3months daily and make money then if you feel ready slowly start trading real money. So making and/or losing money depends on how well you can trade. For some it very profitable, for many it is not.

Know when and the fundamental news that affects price swings are reported. Stay clear during these volatile times because they can take out your stop in a heartbeat and a few beats later go back the other way. And remember that the news could already be mostly priced into the current price. And don't trade against current trends.

I use Lightning Strikes Trading System for trading in any time frame and it works on forex, stocks, bonds, etf's, mutual funds, etc... They have 3 free training sessions a week and you don't have to buy the software to join in the live chat and text. They focus their training/trading on the Forex markets major currencies. You can even watch some recorded past live sessions. Here are some past charts that I used.
http://f1.grp.yahoofs.com/v1/MB16R0zjjaZ...
http://f1.grp.yahoofs.com/v1/MB16RxjOUQt...
There are 7 indicators (2 short, 2 medium, and 3 long term) and if volume is reported another one is added (on balance volume). Plus whatever time-frame is used the 2 green horizontal lines are the support and resistance for that time frame. So when indicators are all touching the bottom price is at or very, very near support. At top is at or very, very near resistance. Which helps my entry/exits and risk/reward ratio.
http://f1.grp.yahoofs.com/v1/MB16R9Wv-wt...
http://f1.grp.yahoofs.com/v1/MB16R9wSKdV...
http://f1.grp.yahoofs.com/v1/QCt6R2fYIj6...
http://f1.grp.yahoofs.com/v1/QCt6R3R0VQe...
If you can not view charts above or want to see other charts, I can email them.
Try what you learn on demo sites. They can be a very fun but educational way to learn from mistakes. If you pick 75% right with play money then you might be ready to start slowly investing.
http://simulator.investopedia.com/
http://simulator.zacks.com/
http://www.fxcm.com/open-free-100k.jsp
http://www.alpari-idc.com/en/metatrader4...
Or just google for more.

Best Wishes,
Burt Whitley

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