The main idea behind this EA is to draw a hedge like HedgeEA, between two currency pairs, and then draw grid's on top of this hedge. There are many ways of use of this EA, maybe in the future we could automate all this but for now let keep it manual.
Currently the EA has the ability to redraw the grid closer to the price if the Price moves behind the Pip Divergence parameter.
For example:
We use a GBPJPY / CHFJPY with a 10 pips grid Offset and 50 pip divergence.
What this will do:
It put orders for the hedge, the place pending orders for the grid and then imagine that the price drops 60 pips on GBPJPY it will delete the grid for this pair and redraw the grid closer (10 pips) from the price to capture profits quicker. The same can happen on the opposite pair.
It is hard to try to explain this way, but I could try to do best if some of you did not understand the logic behind this.
Regarding the grid, the main idea must be to not allow the grid to have more than one position open without SL. This SL can be set by breakeven or when another position is open.
[ForexGen White Labels] 
Forex White Label partnership allows the trader a quick access to the online foreign currency exchange market.
[ForexGen] provides two types of trading White Label partnerships, a limited and a full solution. ForexGen different types of forex White Label partners are able to access ForexGen's trading platform entirely branded under each partner's unique company image and name. We provide a customizable online trading [platform] for the different types of the two White Label solutions.
Tuesday, January 13, 2009
Grid / Hedge
The Currency Conversion Rates
The foreign exchange market is the hottest and biggest highly liquefies financial market in the entire world. The participants of this market are large banks, governments and big multinational companies and financial institutions. The Currency Exchange market is recently introduced to the public. Any individual can enter into the field of currency conversion trading making use of the foreign exchange broker.
Basically foreign currency conversion market deals with trading between different foreign currencies. In this trading, you buy a currency using a foreign currency of another type. The industry runs purely on speculation. The participants of currency conversion indulge in trading and buy a foreign currency expecting the currency to have more value in the future.
The results of currency conversion trading happening in one country will affect the other countries in the market. The countries will open and close the currency exchange market with different time zones. On the whole the market of foreign currency exchange is open all the time on all 5 weak days.
The market highly depends on the currency conversion rates. The buying and selling of currencies greatly depend on the future value of the currency. The currency conversion rates change everyday. The value of US dollar or practically any currency will not remain the same next day. The rates are continually changing and you have to carefully follow the changes to make profit.
[ForexGen Money Manager]
An individual who is responsible for the entire financial portfolio of another individual or another entity. A money manager receives payment in exchange for choosing and monitoring appropriate investments for the client.
Benefits of being a Money Manager with [ForexGen]:
* Providing three different commission sources.
* Weekly commission plan.
* Easy & fast commission withdrawals.
* Fixed percentage of the profits.
* P = k * D “P=Profit, k=Variable Parameter, D=Deposits”
The money manager gets a fixed percentage of the profit previously agreed upon with the client for managing the client funds as a bonus feature.
The most competitive trading conditions:
* 2 pips spread on six currency pairs.
* Providing online trading services without maintenance margin, margin call and no automatic closing of positions below the initial margin on weekdays for accounts with initial equity of up to $1 million US. The margin level have to be recognized Fridays at 23:00 CET and before public holidays.
* Leverages up to 1:200 for accounts up to $1 million US.
* Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.
Forex Trading
Forex trading has become more profitable and popular over the years as changes in rules and restrictions have allowed traders from all backgrounds and experiences to get involved in the Forex market. In the past only well known, wealthy, companies and experienced traders were able to take part in the Forex market. Now, anyone with Internet access and an automated Forex trading system can participate in 24 hour financial market trading.
There are two ways that individuals can take advantage of Forex trading and these involve the use of automated Forex trading systems. The first type of automated Forex trading system is a Desktop based platform. The other type of system is an Internet based trading system.
A Desktop based Forex system keeps all of your Forex related information on your computers hard drive. Many new traders find this comforting but the downside of this system is that data can be corrupted by computer viruses. More importantly, information can be lost when a user’s computer is damaged or stops working.
Two ways to safely use a desk top Forex system is to always use the best virus protection systems available and to back up all files each day.
Internet based systems are conveniently accessible to anyone that has an Internet connection. They are hosted on extremely secure servers and are usually universally compatible with all computer systems. These systems are usually much more affordable than other types of Forex software.
[ForexGen Demo Accounts Contest]
Win Cash Prizes
Interested clients who wish to participate in this event shall send an e-mail request on demo.contest@forexgen.com including the following information:
- Full name: - Phone number
Also provide us with the following identification document:
" Certified copy of the information pages of account holder current valid passport or government issued photo ID"
After we receive your request we will provide you with further details and with your [demo account] login information which will be used in the trading contest.
By the end of each contest:
1. All participants that manages to open at least 20 lots will be awarded a Live Account with $50 credit 2. All participants that manages to open at least 20 lots and keep their demo account initial balance will be awarded a Live Account with $100 credit 3. The highest 5 accounts with the highest profits (including the floating P/L) will be awarded a Live Account with $250 credit.
The contest starts on the first Sunday of each month at 10 pm GMT and ends on the last Friday of that month at 10 pm GMT.
For more information about our current and future promotions, kindly contact one of our customers support agents at promotions@forexgen.com
What is a Forex Practice Account?
A Forex practice account is a game or simulation of the market and is a good place to practice without risking real money. These accounts should be free, if your broker is trying to get money out of you for one just say no thanks and find another broker.
For the most part these accounts will last for about a month, some are longer some and some are shorter. It just depends on the broker you choose to open your account. Some brokers will actually let you continue to use the account for a longer time. It just depends on who you talk to.
Why would you want to use one? Well like I said before it’s a good way to practice without losing out on your own money. It’s also a good platform to develop and learn strategies that work for you in the market. In the demo account you can take some risks and see what the outcomes are so when you are in the real market you will know what to expect.
[Why ForexGen]
1. Lowest spreads in the market with 0-1 pips in 10 pairs, no commissions, no swaps and instant account Activation.
2. Scandinavian quality with Swiss precision, funds secured and local agents in 18+ countries.
3. ForexGen offers Forex trading in the major currency pairs and crosses.
4. Low capital start, with $250 as a minimum account size.
5. Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.
6. ForexGen offers a free trial Forex [demo account] that allows you to test your skills and practice without risking real money.
We consider every client as a special case, a VIP and a partner. A client's profit is our success and a client's loss is a significant call of action for us. Customer care is the heart of our business, we know every client on personal bases as we provide 24/7 customer support.
We keep contact with our clients to ensure that we are on the right track. Leading our client relationship to success is our focus.
Let [ForexGen] prove to you that you have taken the right step by choosing our partnership.
Monday, January 12, 2009
Beware Of "Analysis Paralysis"
Forecasting models are both art and science, with so many different approaches that traders can get overloaded. It can be tough to decide when you know enough to pull the trigger on a trade with confidence.
Many traders switch to technical analysis at this point to test their hunches and see when price patterns suggest an entry.
Look For Fundamental Drivers First
The fundamentals include everything that makes a country and its currency tick. From interest rates and central bank policy to natural disasters, the fundamentals are a dynamic mix of distinct plans, erratic behaviors and unforeseen events.
That said, not every development will move a country's currency. Try to start by identifying the most influential contributors to this mix versus following every fundamental out there.
[ForexGen Services]
Client Services
- Customer Support
- Trading Support
ForexGen offers three types of business partnerships.
* [Introducing Broker]
* [White Label]
* [Money Manager]
ForexGen Introducing Brokers ,White Label and Money Manager holders are recognized as a strategic business partners. The main focus of our service is to satisfy our partner's needs in order to deal with a qualified service and gain a large income sharing plan.
[ForexGen] provides appropriate services satisfying the needs of all business partner's specified situation and requirements.
Forecasting Economic Conditions Using Models
Fundamental analysis is very effective at forecasting economic conditions, but not necessarily exact market prices. Studying GDP forecasts or employment reports can give you a fairly clear picture of an economy's health and the forces at work behind it. But you still need a method to translate that into specific trade entry and exit points.
The bridge between fundamental data and a specific trading strategy usually comes from a trader model. These models use current and historical empirical data to estimate future prices and translate those into specific trades.[ForexGen Live Account]
The live/real account is provided to those clients who may have some experience in the online trading.
[Opening an Account Online]
The quickest, easiest and secure way to open a ForexGen trading account is online.
Complete and submit your application online in just a few minutes.
ForexGen.com is an online trading service provider supplying a unique and individualized service to Forex traders worldwide. We are dedicated to absolutely provide the best online trading services in the Forex market.
ForexGen provides a unique online trading experience based on our intelligent online Forex trading package, the ForexGen Trading Station, including the best online trading system.
Are You a Technician or Fundamentalist?
There's a tendency to pigeonhole traders into two distinct schools: fundamental or technical. In fact, most smart traders favor a blended approach versus being a purist of either type.
Fundamentalists need to keep an eye on signals derived from price charts, while few technicians can afford to completely ignore impending economic data, critical political decisions or pressing societal issues that influence price action.
[ForexGen White Labels] Forex White Label partnership allows the trader a quick access to the online foreign currency exchange market.
[ForexGen] provides two types of trading White Label partnerships, a limited and a full solution. ForexGen different types of forex White Label partners are able to access ForexGen's trading platform entirely branded under each partner's unique company image and name. We provide a customizable online trading [platform] for the different types of the two White Label solutions.
Introduction to Fundamental Analysis
Fundamental analysis studies the core underlying elements that influence the economy of a particular entity, like a stock or currency. It attempts to predict price action and trends by analyzing economic indicators, government policy, societal and other factors within a business cycle framework.
If you think of the markets as a big clock, fundamentals are the gears and springs that move the hands around the face. Anyone can tell you what time it is now, but the fundamentalist knows about the inner workings that move the clock's hands towards times (or prices) in the future.
[ForexGen Money Manager]An individual who is responsible for the entire financial portfolio of another individual or another entity. A money manager receives payment in exchange for choosing and monitoring appropriate investments for the client.
Benefits of being a Money Manager with [ForexGen]:
* Providing three different commission sources.
* Weekly commission plan.
* Easy & fast commission withdrawals.
* Fixed percentage of the profits.
* P = k * D “P=Profit, k=Variable Parameter, D=Deposits”
The money manager gets a fixed percentage of the profit previously agreed upon with the client for managing the client funds as a bonus feature.
The most competitive trading conditions:
* 2 pips spread on six currency pairs.
* Providing online trading services without maintenance margin, margin call and no automatic closing of positions below the initial margin on weekdays for accounts with initial equity of up to $1 million US. The margin level have to be recognized Fridays at 23:00 CET and before public holidays.
* Leverages up to 1:200 for accounts up to $1 million US.
* Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.
Sunday, January 11, 2009
US Dollar 2009 Forecast
2008 Price Action: It has been an exceptionally active year in the foreign exchange market as currency volatilities hit record highs. In the first half of the year, everyone was worried about how much further the dollar would fall but in the second half of the year the concern became how much further the dollar would rise. More specifically, after hitting a record low against the Euro in the second quarter, the US dollar surged to a 2 year high against the currency in the beginning of the fourth quarter. From trough to peak, the dollar index rose more than 23 percent in 2008.
3 Themes for 2009: The US economy and the dollar's fate in the years ahead could be determined by what happens in 2009. We are focusing on 3 big themes that will impact the US dollar and each of these themes encompasses a lot.
1. U or L Shaped Recovery: The US is in recession and the slowdown is expected to deepen in 2009. Before a recovery is even possible, the economy has to work through more weakness and negative surprises. Non-farm payrolls declined by 533k in November, sending the unemployment rate to a 15 year high of 6.7 percent. With many US corporations forced to tighten their belts, the unemployment rate could rise as high as 8 percent. We expect this to happen because over the past 50 years on average, recessions have boosted the unemployment rate by 2.8 percent. When the current recession started in December, the unemployment rate was 5.0 percent. If you tack on 2.8 percent, that would drive the unemployment rate to at least 7.8 percent.
Therefore non-farm payrolls could double dip, just as it has in past recessions. In this case, we would expect a rebound followed by another sharp loss that rivals November's job cuts. A rise in unemployment spreads into incomes, spending and then usually leads to more layoffs. We need to see this toxic cycle end before we can see a recovery. Consumer spending has already been very weak and the trade deficit is widening as the dollar strengthens. As the 2 primary inputs into GDP, we expect fourth quarter growth to be very weak. The strength of the US dollar in Q3 and for most of Q4 will also take a big bite out of corporate earnings, leading to disappointments for the stock market. This is why we expect more weakness in the US dollar and the US economy in the first quarter of 2009. However towards the middle of the second quarter, we may begin to see the US economy stabilize as it starts to reap the benefits of Quantitative Easing and President Barack Obama's fiscal stimulus plan. New Administrations usually hit the ground running and as such we fully expect the rest of the TARP funds to be tapped shortly after his inauguration. The shape of the US recovery will have a big impact on the price action of the US dollar and the path to a stronger dollar will be through a weaker one.
2. Safety vs. Yield: The dollar's rally in the second half of 2008 has been largely driven by risk aversion, deleveraging and repatriation. In other words, despite the next to nothing yield offered by dollar denominated investments, a flight safety into US dollars and government bonds has kept the US dollar from collapsing against currencies like the British pound, Canadian and Australian dollars. The concern for safety was so high that investors were willing to take negative yields just to park their money with the US government. A bubble is brewing in the Treasury market and any improvement in risk appetite will take the market's focus away from safety and back to return on money at which time ultra low interest rates could become a detriment for the US dollar. The dollar's performance against other currencies would be contingent upon growth in the rest of the world. For example, if the UK economy is in the process of recovering, demand for yield and the prospect of return could send the GBP/USD higher, but if the recession in the Eurozone deepens, then the Euro may no longer be the flavor of the month.
3. Compression in Interest Rates and Volatility: Volatility in the currency market hit a record high in 2008 but in 2009 we expect the volatility to compress as interest rates around the world converge. Much of the volatility this past year has been spurred by speculation about how much various central banks would cut interest rates. As they run out of room to ease, we may stop seeing monetary policy surprises which can eventually lead to stabilization for carry trades. Don't expect this to happen in the first quarter however as many central banks are still expected to cut interest rates. The Fed's rate cuts have long been a big driver of market volatility and now that risk is off the table. When the monetary and fiscal stimulus start to impact the US economy, the market may actually start talking about a rate hike in the US. Interest rates cannot remain at zero forever, especially if inflation starts creeping higher in the second half of the year.
Monetary Policy: US interest rates have fallen 400bp from 4.25 percent to 0.25 percent in 2008. For most people, interest rates at 0.25 percent are as unattractive as zero interest rates. With US rates pretty much at zero, the Federal Reserve has informally adopted its own version of Quantitative Easing. Some people may even argue that the Fed has been pursuing this strategy for months now. In conjunction with the Treasury department, the Fed has doubled their balance sheet in the past 3 months to more than $2 trillion. They have done this by purchasing direct equity investments in banks, easing standards on commercial paper purchases, made efforts to relieve institutions of their toxic asset-backed securities and are now considering buying Treasury bonds and agency debt. By buying these assets, they are adding money into the financial system.
Like the Yen, Quantitative Easing exposes the US dollar to significant downside risks because the Federal Reserve is basically printing money and using that money to flood the market with liquidity, eroding the value of the dollar in the process. However it is a step that the central bank needs to take to stabilize the US economy and to prevent a deflationary spiral. The central bank will not be worried about a weak currency and will in fact welcome one because they know that a weaker currency is like an interest rate cut in many ways because it helps to support and stimulate the economy.
Technical Outlook: As indicated in the following chart, the US dollar rallied significantly in the second half of the year. Between June and November, the dollar index rose more than 25 percent. However the rally hit a brick wall in the month of December, when it plunged 12 percent. Since then it has recovered modestly, but it is hovering below stiff resistance. Not only is there the 38.2 percent Fibonacci retracement above current levels, but that also coincides with the 100-day Simple Moving Average. If the dollar index breaks above 81.70, there is scope for a much sharper gain, but the combination of the fact that a head and shoulders pattern could be in formation and there is Fibo as well as Moving Average resistance suggests that the odds are skewed towards more losses than gains in the beginning of 2009.
[ForexGen Demo Accounts Contest]
Win Cash Prizes
Interested clients who wish to participate in this event shall send an e-mail request on demo.contest@forexgen.com including the following information:
- Full name: - Phone number
Also provide us with the following identification document:
" Certified copy of the information pages of account holder current valid passport or government issued photo ID"
After we receive your request we will provide you with further details and with your [demo account] login information which will be used in the trading contest.
By the end of each contest:
1. All participants that manages to open at least 20 lots will be awarded a Live Account with $50 credit 2. All participants that manages to open at least 20 lots and keep their demo account initial balance will be awarded a Live Account with $100 credit 3. The highest 5 accounts with the highest profits (including the floating P/L) will be awarded a Live Account with $250 credit.
The contest starts on the first Sunday of each month at 10 pm GMT and ends on the last Friday of that month at 10 pm GMT.
For more information about our current and future promotions, kindly contact one of our customers support agents at promotions@forexgen.com
U.S. Dollar Forecast
It’s living up to its reputation. The Bar Au Lac hotel is going to run me more than 640 Swiss franc a night. And I scribbled down the prices of what I ate for lunch at the Brasserie Lipp “Salad with Asparagus” (28.50 francs) and “Grilled Beef Filet” (49.50 francs).
In plain English, that means my hotel is over $500 dollars a night and those two lunch selections ended up running over $60 bucks. Ouch!
Wait a minute! Now, before you give me a hard time for spending too much, let me just tell you, this is the way it is in Zurich. I wonder about the U.S. dollar forecast, since the U.S. dollar is worthless here.
While everyone talks of a dollar crash, this trip to Zurich is more evidence that the dollar has already crashed. Europe is outrageously expensive. And some time soon, the exchange rates between Europe and the U.S. will move back in line meaning the euro (and Swiss franc) will fall, and the dollar will rise.
You Can’t Buy Nothin’
Two classic gauges of prices around the world are a cab ride from the airport and high-speed internet access These are not “prized” activities; these are part of everyday international business. And here, yet again, Zurich proves it’s outrageous.
Our 10-minute cab ride from the airport to the Bar Au Lac was $50 bucks. Now again, don’t think I’m living high on the hog - this wasn’t some sort of limo or black car service. It was a dingy (for Swiss standards), small, old white European van (if you’ve been in Europe, you know the little vans I’m talking about). Fifty dollars!
And you won’t believe internet service. I pay about $40 bucks a month at home for high-speed Internet. Here in
Of course, if you sign up for a week’s access, they’ll give you a discount 200 francs for the week. That’s $167 dollars in a week for high-speed internet!
The U.S. Dollar Forecast: Why the Buck Could Strengthen by 20% or More
I track three primary indicators for currencies.
• Interest rates. All things being equal, the country with the higher yields will see its currency rise versus the country with the lower yield (deposits in the U.S. pay nearly 3%, while Swiss ones pay less than 1%).
• Purchasing power. When one developed country’s currency is significantly out of line with another developed country’s currency, it’s like a stretched rubber band - things return to “normal” over time. (A Big Mac in Switzerland, for example, is 82% more expensive than a Big Mac in the States, according to The Economist magazine).
• The underlying trend. Trends in currencies tend to stay in motion for longer than people think. In 2005, the trend in the European currencies has been down versus the dollar, but so far the fall has been minimal and there’s plenty more room on the downside in the euro and the Swiss franc.
Of course, Switzerland is an extreme case. With the exception of the dollar’s massive rise in the mid-1980s, Switzerland has always been more expensive than the U.S. - by about 30%. The currency markets seem to like the stable, conflict-free economy with a solid legal system and a country with significant gold reserves.[Why ForexGen]
1. Lowest spreads in the market with 0-1 pips in 10 pairs, no commissions, no swaps and instant account Activation.
2. Scandinavian quality with Swiss precision, funds secured and local agents in 18+ countries.
3. ForexGen offers Forex trading in the major currency pairs and crosses.
4. Low capital start, with $250 as a minimum account size.
5. Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.
6. ForexGen offers a free trial Forex [demo account] that allows you to test your skills and practice without risking real money.
We consider every client as a special case, a VIP and a partner. A client's profit is our success and a client's loss is a significant call of action for us. Customer care is the heart of our business, we know every client on personal bases as we provide 24/7 customer support.
We keep contact with our clients to ensure that we are on the right track. Leading our client relationship to success is our focus.
Let [ForexGen] prove to you that you have taken the right step by choosing our partnership.
Forecast for New Zealand Dollar
The rapid weakening of economic growth outside the United States has been helping the U.S. dollar. Now, with the rest of the world economy slowing down is reasonable to think that the demand for commodities will also dry up. As a result, commodity sensitive currencies like the New Zealand dollar will be particularly vulnerable going forward.
New Zealand Dollar Forecast
The New Zealand dollar has been falling sharply against the world’s most heavily traded currencies on speculation that the Reserve Bank of New Zealand could have to cut interest rates faster than traders had previously expected. Indeed, according to overnight index swaps, which measure interest rate expectations for the next twelve months, traders expect the Reserve Bank of New Zealand to cut rates by 150 bps. Looking ahead, I expect NZD/USD to trade below 0.66 in 3 months and below 0.60 in 1 year.
New Zealand is Facing Its Biggest Challenge in More Than 20 years
The New Zealand economy has been hit by a slowdown in global growth and by rising high energy and food prices. In fact, according to Statistics New Zealand, the economy shrank in the first quarter of 2008, largely due to the impact of higher energy prices, a drought on agriculture and a slowdown in construction and household spending.
[ForexGen Services]
Client Services
- Customer Support
- Trading Support
ForexGen offers three types of business partnerships.
* [Introducing Broker]
* [White Label]
* [Money Manager]
ForexGen Introducing Brokers ,White Label and Money Manager holders are recognized as a strategic business partners. The main focus of our service is to satisfy our partner's needs in order to deal with a qualified service and gain a large income sharing plan.
[ForexGen] provides appropriate services satisfying the needs of all business partner's specified situation and requirements.
How Do I Set My Financial Goals
I’ll tell you upfront – even though I’m not trading yet I know exactly what I want o achieve. And to many my goals might not sounds reasonable at all. Like mentioned in my previous post, I will most likely be day trading on both – stock market and foreign exchange and I expect to get a minimum of 3% ROI per day for 20 days each month. So when you look at it like that....20*3 = 60% ROI per month. And this includes all commissions as well, only tax will go off from this sum.
Actually the total ROI would be even bigger, possibly up to 80% per month if we consider the fact that every day we will have 3% more money to play with.While these percentages might sound utopical and not too real – if you are a winning trader ( meaning you win with 2/3 of your trades, you have proper stop-loss limits etc) I do believe this is possible.
Some of you may now of course ask – If it is possible to earn 3% ROI from your investment each day then why aren’t we all millionaires? Justified question. To answer this there are couple of things you need to think about :
1. Everyone can’t always re-invest all the money he has earned. So lets say you earn ... 30% ROI each month, but you also need money for living...so you might end up just earning you monthly living money without re-investing it.
2. Trading on stock market and foreign exchange is not safe, everyone playing there have a great chance to lose all their money, especially if they don’t have enough knowledge and experiences (that’s what most of us lack). So instead of day trading many you might decide for yearly long investments that might bring you 20% ROI per year ( or lose the same amount ) or invest into 90% sure things where you earn like 5% or 10% per year – mutual funds might be a possibility here.
3. You know how to trade, when to trade, you know all about risk management, portfolio management etc, but you still don’t act upon your knowledge. This is rather common as well.
4. Not everyone are interested in day-to-day trading just like not everyone is interested in owning their own business or travelling a lot or...you get the point.[ForexGen Live Account]
The live/real account is provided to those clients who may have some experience in the online trading.
[Opening an Account Online]
The quickest, easiest and secure way to open a ForexGen trading account is online.
Complete and submit your application online in just a few minutes.
ForexGen.com is an online trading service provider supplying a unique and individualized service to Forex traders worldwide. We are dedicated to absolutely provide the best online trading services in the Forex market.
ForexGen provides a unique online trading experience based on our intelligent online Forex trading package, the ForexGen Trading Station, including the best online trading system.
Basic Introduction To Forex Trading
Forex trading in simple words means trading with currency. Forex, FX, Foreign exchange, it means trading with currency and right now it’s the fastest growing market in the world. Trillions of dollars are traded every day. The main players in this market are banks, investors, hedge funds and regular people who are interested in taking a bite from this trillian dollar market, regular people like me and you.
The purpose of Forex traders is to get profit from buying and selling foreign currencies (also gold and silver). For example you can use Euro to buy US dollar or you can sell Euro for Yen. The exchange rates are constantly changing due to demand and supply, world news, stuff happening in politics.
The main idea is of course, like with any investing objects, to buy cheap and sell high and to take profit in between. Compared to the stock market forex is a 24/7 market.
In order to successfully trade in forex market, you definitely need to know the overall basics of investing and market analysis. You also need to get familiar with the structure of forex, the different mainly traded currencies, how and why the prices changes exactly, what are the main reasons behind the price changes, what affect them; what are the principles behind the price formations; what are the risk levels; how and where can you get the information to minimize your risks; how to analyse the currencies; how to predict price movements. So there is lots of things to know before you can actually start trading.
Forex trades (trading on board internet platforms) are non-delivery trades. This means that currencies are not physically traded. Instead there are currency contracts which are agreed upon and performed.
[ForexGen White Labels] Forex White Label partnership allows the trader a quick access to the online foreign currency exchange market.
[ForexGen] provides two types of trading White Label partnerships, a limited and a full solution. ForexGen different types of forex White Label partners are able to access ForexGen's trading platform entirely branded under each partner's unique company image and name. We provide a customizable online trading [platform] for the different types of the two White Label solutions.
Thursday, January 8, 2009
Canadian Business Activity Falls to Record Low
The Canadian Ivey PMI for December was released at 39.1, beating the survey estimate of 37.5. Even though the actual release was higher than what the market expected, the PMI for November & December have been at an all-time low. A reading of 39.1 is a strong pessimistic view on Canadian consumer spending from managers as any reading below 50 is an indicator of contraction.
A breakdown into the PMI release shows a consistent decline in the “Prices” index to 47.5, which may further encourage BOC to lower their interest rates going forward. Additionally the “Employment” component fell to 41.0, suggesting the economic outlook for the economy will worsen before recovering. Both components have also reached an all-time low with this month’s release.
[ForexGen Money Manager]An individual who is responsible for the entire financial portfolio of another individual or another entity. A money manager receives payment in exchange for choosing and monitoring appropriate investments for the client.
Benefits of being a Money Manager with [ForexGen]:
* Providing three different commission sources.
* Weekly commission plan.
* Easy & fast commission withdrawals.
* Fixed percentage of the profits.
* P = k * D “P=Profit, k=Variable Parameter, D=Deposits”
The money manager gets a fixed percentage of the profit previously agreed upon with the client for managing the client funds as a bonus feature.
The most competitive trading conditions:
* 2 pips spread on six currency pairs.
* Providing online trading services without maintenance margin, margin call and no automatic closing of positions below the initial margin on weekdays for accounts with initial equity of up to $1 million US. The margin level have to be recognized Fridays at 23:00 CET and before public holidays.
* Leverages up to 1:200 for accounts up to $1 million US.
* Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.
Forex Trading Strategies Aggressively
Forex Trading Strategies Aggressively buy Japanese Yen Against US Dollar, British Pound, Swiss Franc, and Australian Dollar
Our forex trading strategies forecast that the Japanese Yen will strengthen against the US Dollar, British Pound, and Swiss franc. A wide range of systems have bought the Japanese currency in the CHF/JPY, USD/JPY, and GBP/JPY pairs—signaling that forex sentiment favors further Yen strength. We highlighted yesterday that a breakdown in the USD/JPY signaled further losses were likely—generating a “Breakout2” trading strategy sell signal.
Our Speculative Sentiment Index-based Momentum2 strategy has since likewise sold the USD/JPY, GBP/JPY, and CHF/JPY. Such trading signals are consistent with our Senior Strategist’s technical forecasts for Japanese Yen cross rates.
[ForexGen Demo Accounts Contest] 
Win Cash Prizes
[ForexGen] has the pleasure to announce the launching of the Demo Account contest on the first of every month.
Interested clients who wish to participate in this event shall send an e-mail request on demo.contest@forexgen.com including the following information:
- Full name: - Phone number
Also provide us with the following identification document:
" Certified copy of the information pages of account holder current valid passport or government issued photo ID"
After we receive your request we will provide you with further details and with your [demo account] login information which will be used in the trading contest.
By the end of each contest:
1. All participants that manages to open at least 20 lots will be awarded a Live Account with $50 credit 2. All participants that manages to open at least 20 lots and keep their demo account initial balance will be awarded a Live Account with $100 credit 3. The highest 5 accounts with the highest profits (including the floating P/L) will be awarded a Live Account with $250 credit.
The contest starts on the first Sunday of each month at 10 pm GMT and ends on the last Friday of that month at 10 pm GMT.
For more information about our current and future promotions, kindly contact one of our customers support agents at promotions@forexgen.com
PFGBEST Announces Winners in BESTDirect Traders Challenge
PFGBEST announced that Les Steinberg is the winner of $50,000 for first place in the company’s BESTDirect Traders Challenge that ran from August 4 through December 19, 2008. Competitors traded futures and/or forex markets on the BESTDirect 8.0 electronic trading platform. Mr. Steinberg recorded an overall trading profit of $103,338.50 in his account at the close of the 20-week competition.
Mr. Girindra Sharma took second place, with a trading profit of $58,655.17, and Mr. Song Li placed third, with a trading profit of $28,059.11. Each of the top three contestants also won weekly contests throughout the Challenge duration for having the biggest gain in their trading accounts on a weekly basis. PFGBEST each week made $1,000, $600 and $400 awards to three traders demonstrating the best skills, in addition to the $50,000 at the end of the competition.
”Our company is committed to leadership in sustainable investing practices,” said PFGBEST President and Chief Operating Officer Russell Wasendorf, Jr. “We sponsor this and other Commodity Trading Advisor (CTA) competitions to help identify money managers who outperform average yields. The goal is to foster and showcase emerging talent, to help them further establish their track record, and then to allow us the ability to create and distribute managed futures and managed forex trading products for investors with $5,000 on up to invest in such a strategy,” Wasendorf said.
[Why ForexGen]
1. Lowest spreads in the market with 0-1 pips in 10 pairs, no commissions, no swaps and instant account Activation.
2. Scandinavian quality with Swiss precision, funds secured and local agents in 18+ countries.
3. ForexGen offers Forex trading in the major currency pairs and crosses.
4. Low capital start, with $250 as a minimum account size.
5. Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.
6. ForexGen offers a free trial Forex [demo account] that allows you to test your skills and practice without risking real money.
We consider every client as a special case, a VIP and a partner. A client's profit is our success and a client's loss is a significant call of action for us. Customer care is the heart of our business, we know every client on personal bases as we provide 24/7 customer support.
We keep contact with our clients to ensure that we are on the right track. Leading our client relationship to success is our focus.
Let [ForexGen] prove to you that you have taken the right step by choosing our partnership.
Canadian Dollar Forecast Unclear Against US Dollar
USD/CAD ratio: 1.33 Trading Forecast: Bearish
USDCAD – Outlook for the US Dollar against the Canadian Dollar remains unclear on a sharp drop in trader open interest. The ratio of long to short positions in the USDCAD stands at 1.08 as nearly 52% of traders are long. Yesterday, the ratio was at 1.36 as 58% of open positions were long. In detail, long positions are 8.6% lower than yesterday and 60.6% weaker since last week. Short positions are 15.7% higher than yesterday and 31.9% weaker since last week.
Open interest is 1.7% stronger than yesterday and 62.3% below its monthly average. The SSI is a contrarian indicator and signals more USDCAD losses, but extremely low open interest gives us little confidence in said forecasts.
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ForexGen Introducing Brokers ,White Label and Money Manager holders are recognized as a strategic business partners. The main focus of our service is to satisfy our partner's needs in order to deal with a qualified service and gain a large income sharing plan.
[ForexGen] provides appropriate services satisfying the needs of all business partner's specified situation and requirements.
New Zealand Dollar Technical Outlook
I would still like to see the NZDUSD complete 5 waves up from .5186 but with patterns in the GBPUSD and AUDUSD suggesting weakness, I am not confident that Kiwi will exceed .6090. In any case, a push through would target Fibonacci resistance at .6183, which is combined with former congestion (circled).[ForexGen Live Account]
The live/real account is provided to those clients who may have some experience in the online trading.
[Opening an Account Online]
The quickest, easiest and secure way to open a ForexGen trading account is online.
Complete and submit your application online in just a few minutes.
ForexGen.com is an online trading service provider supplying a unique and individualized service to Forex traders worldwide. We are dedicated to absolutely provide the best online trading services in the Forex market.
ForexGen provides a unique online trading experience based on our intelligent online Forex trading package, the ForexGen Trading Station, including the best online trading system.
Wednesday, January 7, 2009
Different Types of Bars
Bar is a bar with a higher high and higher low than the previous bar. The bars marked off are in an uptrend. Notice how the close is higher than the open until what turns out to be the last bar of the trend where the close is lower than the open. There were more sellers then buyers on the last bar.
Down Bar is a bar with a lower high and lower low than the previous bar. The bars marked off are in a downtrend. Notice how the close is lower than the open until what turns out to be the last bar of the trend where the close is higher than the open. There were more buyers then sellers on the last bar.
Inside Bar, also called a narrow range bar, is a bar with the high that is lower than the previous bar and low that is higher than the previous bar. Some traders do not consider an inside bar that has either an equal high or an equal low as an inside bar, others do. Inside bars usually represent market indecision. As on any bar, the closer the open and close are to each other shows just how undecided the market is as neither the buyers or sellers are in control. Buyers are in control on the inside bar marked on the chart because the close is at the top of the bar.
Outside Bar, also called a Wide Range or Engulfing Bar, is a bar with a high that is higher than the previous bar and with a low that is lower than the previous bar thereby engulfing the previous bar. Since the open and close are close together on the marked bar, neither the buyers or the sellers are in control and the market is undecided which way to go.
When the open is in the bottom quarter/third of the bar and the close is in the top quarter/third of the bar, it is said to be bullish engulfing with the buyers in control. When the open is in the top quarter/third of the bar and the close is in the bottom quarter/third, it is said to be bearish engulfing with the sellers in control.
Another definition used for this bar – especially if candlestick charts are used - is that the open and close have to engulf the previous bars open and close and not just the high and low of the bar. With this definition, the wide range bar or engulfing bar does not need to have a higher high or lower low to qualify. The first definition most probably came about with bar charts where it is harder to notice the open and close.
[ForexGen White Labels] Forex White Label partnership allows the trader a quick access to the online foreign currency exchange market.
[ForexGen] provides two types of trading White Label partnerships, a limited and a full solution. ForexGen different types of forex White Label partners are able to access ForexGen's trading platform entirely branded under each partner's unique company image and name. We provide a customizable online trading [platform] for the different types of the two White Label solutions.
Truths About Forex and Futures Trading
I’m not a self confessed market guru, nor am I an expert when it comes to written communication and education. I am however quite the expert at understanding price action and devising trading systems and methods. I am successful, not only at trading money, but at helping people improve their trading. The sole reason I succeed in the markets is because I am patient and I trade setups that repeat themselves over and over. Trading is a sport, like chess, billiards and poker, trading is a game of skill and strategy.
My analysis and approach is typically very simple. I use nothing more than daily and weekly price charts, not a bunch of fancy indicators, no fancy bells and whistles. Basic Maths and Price Charts are all one needs to make money in today’s markets.
It’s my aim to empower you with simple strategies, and hopefully make a difference to your future trading endeavors. I ask you to open your eyes and see what the market can realistically offer you. If you have $100 in a trading account, you’re not going to make it, $2000 and you have a fighting chance, $10,000, and your chances increase because you have the ability to handle inevitable losses.
I will not be filling these pages with useless trading content, and bore you to tears with basic market theory which is available for free on Google searches. I’m going to go straight into the meat, and divulge to you, not only a successful trading method, but help you understand what will help make you successful in the market.
The Realities of directional trading.
If there’s one thing I’ve learned in the last 5 years, when it comes the topic of wealth creation , weather it be trading share market, the currency market, real estate or even simple business, I find that failure in these fields is mainly due to a lack of discipline or planning. A trader can be given a method to enter traders but the question is, can they stick to the plan and manage the trade properly? Does successful trading depend on your personality or your approach? The short answer is both!
If you’re failing, you are a victim of subconscious inhibitions and mental in-capabilities, which all result in “fear” and “lack of personal discipline”. There’s a reason Ex Marines, Army and Navy personal make money trading, I know 2 ex military personnel that succeed in trading, and they both have the same personalities. They are trained in the art of war and discipline. Based on this information, a novice trader, or failing trader should then revert back to practicing a mechanical method which induces discipline and a step by step plan. Even is that method breaks even, you are starting good habits.
The reason the owner of a McDonalds Franchise makes money is purely because he follows a proven system with rules and restrictions. Successful trading and investing is no doubt similar to franchise in itself. If you use a method to trade with, and stick to it, manage your money correctly whilst maintaining constant discipline in your approach, the chances of your survival is increased 100 fold.
What you really need to know.
I want you to understand that before you trade or use this information, that any trading strategy should be just one part of your trading arsenal. My systems work for many, and can work for you, but you must be realistic. All methods lose money, as well as win money, the best approaches are often conservative and trade less often. You are not going to build Rome overnight with this method, but your most likely going to improve your results significantly over time, if not your discipline alone. As I continue to reiterate, a trading plan and disciplined approach is the true grail of trading.
I have often found that traders are obsessed with getting on “every move”, when all they really should be doing is mastering an approach to make “some of the moves”. My success can be attributed to the understanding that trading is a conservative game of patience and strategy. It’s a game no doubt, with many players, all whom are usually much smarter than the retail trader. As “small fish”, we must develop skills to jump on the back of the ‘larger fish’ (banks), and ride the tide for as long as possible. That in itself is precisely how trading works.
[ForexGen Money Manager]An individual who is responsible for the entire financial portfolio of another individual or another entity. A money manager receives payment in exchange for choosing and monitoring appropriate investments for the client.
Benefits of being a Money Manager with [ForexGen]:
* Providing three different commission sources.
* Weekly commission plan.
* Easy & fast commission withdrawals.
* Fixed percentage of the profits.
* P = k * D “P=Profit, k=Variable Parameter, D=Deposits”
The money manager gets a fixed percentage of the profit previously agreed upon with the client for managing the client funds as a bonus feature.
The most competitive trading conditions:
* 2 pips spread on six currency pairs.
* Providing online trading services without maintenance margin, margin call and no automatic closing of positions below the initial margin on weekdays for accounts with initial equity of up to $1 million US. The margin level have to be recognized Fridays at 23:00 CET and before public holidays.
* Leverages up to 1:200 for accounts up to $1 million US.
* Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.
