Thursday, March 19, 2009
Monday, February 16, 2009
FOREX RESEARCH
February 13, 2009 GMT 11:08 EUR/USD Today’s support: - 1.2820, 1.2777 and 1.2754(main), where correction is possible. Break would give 1.2736, where correction also may be. Then follows 1.2714. Break of the latter would result in 1.2678. If a strong impulse, we would see 1.
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Forex - Technical research and Forexyard Daily Forex research by Forexyard Research
Forexyard analysis - G-7 Takes the Task of Rebuilding the World Economy
The G-7's finance ministers and central bankers meet tonight and tomorrow before releasing a statement and talking to reporters at about 2:30 p.m. local time. On the agenda: How to thwart protectionism, overhaul financial oversight and end what the International Monetary Fund calls a depression in advanced economies.
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Thursday, 12 February 2009, 09:32 GMT
Forex - Technical research and Forexyard Daily Forex research by Forexyard Research
Forexyard analysis - Falling Crude Oil Prices and Passage of Stimulus Bill May Push USD Higher
Yesterday's drop in Crude Oil prices lent weight to the notion that traders are expecting the consolidating USD to spike in value versus its major currency pairs in the not-too-distant future. The passage of Barack Obama's stimulus bill yesterday may also lend weight to this notion. Today, traders could see the value of the EUR/USD pair drop towards the 1.
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Thursday, 12 February 2009, 02:59 GMT
Forex - Fundamental research and GCI Forex Research by FX Research Desk
Fundamental Outlook
The euro came off vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.2835 level and was capped around the $1.2995 level. U.S. Treasury Secretary Geithner is traveling to Rome to attend the Group of Seven meeting of central bankers and finance officials from Friday. He is expected to call on his counterparts to enact bold action to lift the global economy from recession and strengthen the regulation of the financial markets.
Read more >
Forex - Technical research and Forexyard Daily Forex research by Forexyard Research
Forexyard analysis - G-7 Takes the Task of Rebuilding the World Economy
The G-7's finance ministers and central bankers meet tonight and tomorrow before releasing a statement and talking to reporters at about 2:30 p.m. local time. On the agenda: How to thwart protectionism, overhaul financial oversight and end what the International Monetary Fund calls a depression in advanced economies.
Read more >
Thursday, 12 February 2009, 09:32 GMT
Forex - Technical research and Forexyard Daily Forex research by Forexyard Research
Forexyard analysis - Falling Crude Oil Prices and Passage of Stimulus Bill May Push USD Higher
Yesterday's drop in Crude Oil prices lent weight to the notion that traders are expecting the consolidating USD to spike in value versus its major currency pairs in the not-too-distant future. The passage of Barack Obama's stimulus bill yesterday may also lend weight to this notion. Today, traders could see the value of the EUR/USD pair drop towards the 1.
Read more >
Thursday, 12 February 2009, 02:59 GMT
Forex - Fundamental research and GCI Forex Research by FX Research Desk
Fundamental Outlook
The euro came off vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.2835 level and was capped around the $1.2995 level. U.S. Treasury Secretary Geithner is traveling to Rome to attend the Group of Seven meeting of central bankers and finance officials from Friday. He is expected to call on his counterparts to enact bold action to lift the global economy from recession and strengthen the regulation of the financial markets.
ONLINE HELP
Online Help
Welcome to the help system of Forex Strategy Builder(FSB)! The FSB software offers free stock, indexes and forex strategy tester, generator and optimizer (screens). This wiki guide provides all the information on how to use FSB to build and test a working trading strategy. A good place to start is the introduction section that explains the basic ideas and functions of the program. We hope that you will find the included articles useful.
If you are looking for a specific topic, you can use the “Search” field. For further and more thorough information on Forex Strategy Builder read the program documentation and the related topics in the support forum.
Contents
Introduction - a quick glance and main features.
User Manual - Forex Strategy Builder installation instructions, user interface, tools description.
Indicators - thorough description of the included technical indicators. Under construction!
Strategies - introduction to forex strategy testing.
Step by step - guides and tutorials for working with the program.
Download
Forex Strategy Builder is available at the Forex Download web page for free.
Kick-start
Load a demo forex strategy (Menu File → Open) and read the strategy overview (Overview button).
Automatically generate a strategy (Generator button) and read the overview.
More Info
If you need additional information about Forex Strategy Builder software or on the process of testing an existing forex strategy, you can use the following links:
Forex Strategy Builder - This is the homepage of the program. Here you can find up-to-date information about FSB, forex articles, sample strategies, historical rates and links to other forex related resources.
Forex Forum - The support forum of Forex Strategy Builder, comments on the technical indicators, user created strategies, etc. This is the best place to discuss any questions related to FSB or the forex market and get advice from experienced users of the program.
Forex Chat - Free Forex chat without banners, ads or registrations. Speak about the current market trend, signals and forex news. Discuss Forex Strategy Builder with other users.
Welcome to the help system of Forex Strategy Builder(FSB)! The FSB software offers free stock, indexes and forex strategy tester, generator and optimizer (screens). This wiki guide provides all the information on how to use FSB to build and test a working trading strategy. A good place to start is the introduction section that explains the basic ideas and functions of the program. We hope that you will find the included articles useful.
If you are looking for a specific topic, you can use the “Search” field. For further and more thorough information on Forex Strategy Builder read the program documentation and the related topics in the support forum.
Contents
Introduction - a quick glance and main features.
User Manual - Forex Strategy Builder installation instructions, user interface, tools description.
Indicators - thorough description of the included technical indicators. Under construction!
Strategies - introduction to forex strategy testing.
Step by step - guides and tutorials for working with the program.
Download
Forex Strategy Builder is available at the Forex Download web page for free.
Kick-start
Load a demo forex strategy (Menu File → Open) and read the strategy overview (Overview button).
Automatically generate a strategy (Generator button) and read the overview.
More Info
If you need additional information about Forex Strategy Builder software or on the process of testing an existing forex strategy, you can use the following links:
Forex Strategy Builder - This is the homepage of the program. Here you can find up-to-date information about FSB, forex articles, sample strategies, historical rates and links to other forex related resources.
Forex Forum - The support forum of Forex Strategy Builder, comments on the technical indicators, user created strategies, etc. This is the best place to discuss any questions related to FSB or the forex market and get advice from experienced users of the program.
Forex Chat - Free Forex chat without banners, ads or registrations. Speak about the current market trend, signals and forex news. Discuss Forex Strategy Builder with other users.
OUR SERVICES
FX Trading, Corp. is a Financial consultant services company, namely providing foreign exchange financial information; electronic foreign exchange quote services via Internet, e-mail and telephone; consultation services in the field of trading strategies for speculation and hedging; managing, tracking and reporting foreign exchange purchase and sale transactions, providing on-line Internet access to financial exchange information; online global research and analysis of foreign exchange rate calculation services; hedge fund investment services in the nature of financial hedging assistance programs. FX Trading, Corp. is not a Futures Commission Merchant or also known as a Clearing Firm/House. FX Trading, Corp. is also not an Introducing Broker for any United States FCM’s.
WHY THE FOREX MARKET?
Forex is the backbone of all international capital transactions. Compared to the slim profit margins rendered in other areas of commercial banking, huge profits are generally produced in a matter of minutes form minor currency market movements. Some banks generate 60% of their profits from trading currency aggressively.
Trading volume has been growing at a rate of 25% per year since the mid-1980s and therefore it is not difficult to accept the notion that the currency market is one of the world fastest growing industries. What used to require days to accomplish in Europe or Asia now oly takes a few minutes. Needless to say, technology has changed everything and millions of Dollars are moved from one currency into another every second of every day by major banks through computers and for the average investor, with the touch of a computer key.
Foreign exchange is the backbone of all international capital transactions. Compared to the slim profit margins rendered in other areas of commercial banking, huge profits are generally produced in a matter of minutes from minor currency options market movements. Some banks generate up to 60% of their profits from trading currency aggressively.
Trading volume has been growing at a rate of 25% per year since the mid-1980s and therefore it is not difficult to accept the notion that the currency market is one of the world fastest growing industries. What used to require days to accomplish in Europe or Asia now oly takes a few minutes. Needless to say, technology has changed everything and millions of Dollars are moved from one currency into another every second of every day by major banks through computers and for the average investor, with the touch of a computer key.
Foreign exchange is the backbone of all international capital transactions. Compared to the slim profit margins rendered in other areas of commercial banking, huge profits are generally produced in a matter of minutes from minor currency options market movements. Some banks generate up to 60% of their profits from trading currency aggressively.
Saturday, January 17, 2009
Forex Market Update: Dollar Under Selling Pressure on Risk Appetite
Forex Market Update: Dollar Under Selling Pressure on Risk Appetite
Written by DailyFX Research
The dollar came under steady selling pressure as currencies posted steady strong gains in Asia, along with a rise in JPY crosses. Increased risk appetite bolstered the currencies with factors seen fostering the increased risk appetite including the Senate approval of the $350 bln TARP tranche, the House Democrats $825 stimulus package, the positive close on Wall Street and subsequent rally in the Nikkei. The news late in the session of the bail-out support for the BofA Merrill purchase aided sentiment as well as DJIA futures rose on the news, treasury yields extending gains and Asian stocks extending their rally. EUR-USD, which fell to a low of 1.3025 in NY trading, had opened in Asia around 1.3100 and traded as high as 1.3254. USD-JPY, on the back of the cross flows, recovered from the lows of 88.49 on Thursday, to open in Asia around 90.00 and trade to highs of 90.57. Cable traded to highs of 1.4849 on short-covering with strong gains in AUD, CAD and NZD ignoring fairly downbeat commodity developments from overnight trading. Nymex crude remained soft in Asia, at $35.50, gaining only 10 cents. Gold rallied on the back of the weaker USD, rising $13.50 to trade to $820.80. Another sign of renewed risk appetite was the biggest daily gain in the KRW in almost three weeks.
Written by DailyFX Research
The dollar came under steady selling pressure as currencies posted steady strong gains in Asia, along with a rise in JPY crosses. Increased risk appetite bolstered the currencies with factors seen fostering the increased risk appetite including the Senate approval of the $350 bln TARP tranche, the House Democrats $825 stimulus package, the positive close on Wall Street and subsequent rally in the Nikkei. The news late in the session of the bail-out support for the BofA Merrill purchase aided sentiment as well as DJIA futures rose on the news, treasury yields extending gains and Asian stocks extending their rally. EUR-USD, which fell to a low of 1.3025 in NY trading, had opened in Asia around 1.3100 and traded as high as 1.3254. USD-JPY, on the back of the cross flows, recovered from the lows of 88.49 on Thursday, to open in Asia around 90.00 and trade to highs of 90.57. Cable traded to highs of 1.4849 on short-covering with strong gains in AUD, CAD and NZD ignoring fairly downbeat commodity developments from overnight trading. Nymex crude remained soft in Asia, at $35.50, gaining only 10 cents. Gold rallied on the back of the weaker USD, rising $13.50 to trade to $820.80. Another sign of renewed risk appetite was the biggest daily gain in the KRW in almost three weeks.
Sunday, January 11, 2009
The Importance of Forex Trading Courses
Being engaged in any business of some sort is truly rewarding. Man has been involved in this kind of endeavor for many years now, in fact, it has been in existence for as long as any man can remember.
Trading is a very good way to do business. Long ago, people traded goods for other goods. Later on, some goods were traded for services, and vice versa. Forex trading is just one of the many forms of trading. For starters, forex trading is simply the trading of the different currencies in the world. It provides absolute liquidity to most investors; it is also known as the least regulated and the largest financial market in the world.
Although trading may seem very easy, when it comes to forex, it’s quite different. And if you don’t have proper knowledge about it, you will lose a whole lot of money. Doing the trade like the pros can be quite a chore, but if you only know the basics and some advance learning tools, you can do your trade just like them.
There are many forex trading courses that you can choose from. You can attend a forex trading class traditionally (inside the classroom) or you can do it online. Whichever you choose, you will surely learn more and will benefit from it once you do the actual trade. Although it requires additional expenses on your part, the amount that you’ll be spending will be doubled or even tripled once you do your actual forex trade.
Trading courses offered to wannabe forex traders teaches all forex trading aspects. You can find institutions which offer the latest software and tools used in forex trading. Aside from that, you will be taught the difference between equities and forex trading. Pros make use of different instruments when doing the actual trade, and through these courses, they will be able to help you choose the best possible instrument that you can use.
You can actually engage in forex trading twenty four hours a day and six days a week. Imagine how much money you can make in so little time; but this can only be realized if you attend forex trading courses.
Trading is a very good way to do business. Long ago, people traded goods for other goods. Later on, some goods were traded for services, and vice versa. Forex trading is just one of the many forms of trading. For starters, forex trading is simply the trading of the different currencies in the world. It provides absolute liquidity to most investors; it is also known as the least regulated and the largest financial market in the world.
Although trading may seem very easy, when it comes to forex, it’s quite different. And if you don’t have proper knowledge about it, you will lose a whole lot of money. Doing the trade like the pros can be quite a chore, but if you only know the basics and some advance learning tools, you can do your trade just like them.
There are many forex trading courses that you can choose from. You can attend a forex trading class traditionally (inside the classroom) or you can do it online. Whichever you choose, you will surely learn more and will benefit from it once you do the actual trade. Although it requires additional expenses on your part, the amount that you’ll be spending will be doubled or even tripled once you do your actual forex trade.
Trading courses offered to wannabe forex traders teaches all forex trading aspects. You can find institutions which offer the latest software and tools used in forex trading. Aside from that, you will be taught the difference between equities and forex trading. Pros make use of different instruments when doing the actual trade, and through these courses, they will be able to help you choose the best possible instrument that you can use.
You can actually engage in forex trading twenty four hours a day and six days a week. Imagine how much money you can make in so little time; but this can only be realized if you attend forex trading courses.
forex training
If you want to begin trading on the foreign exchange (commonly referred to as "Forex") and you want to profit from this form of investing, then you will have to learn a few techniques and strategies first. It is advisable to take some form of forex training to familiarize yourself with these methods.
You can find a good forex training program online which should teach you valuable methods that you will need before you begin to trade on the foreign exchange.
You can get forex training in various formats:
*One such format is seminars. These are hosted by experts who have been traders for years as well as specialists on the subject. They should explain everything in detail and because it is fully interactive you can ask anything you are unsure about.
*Another training format is online courses. You should take a trading course online that is easy to join and can give you insight into trading strategies, reading charts, and provides you with a demo account. A demo account is structured as if it were a true account with real money, except you are just practicing and will not lose any real money. This form of forex training is usually limited to a certain period of time.
*At Forex they will offer their own forex training which is a self study guide made up of the following key elements which need to be learned in order to successfully trade: You need to understand the elements that drive currency movement and the quoting thereof, you get to practice reading and analyzing currency charts with Forex tools, and you need to learn how to recognize market trends and capitalize on them.
Part of a good forex training program will also ensure that you use your financial leverage effectively when it comes to Forex trading. You will learn about stop loss and other orders to ensure protection and management of any open positions, you will begin to understand how and why world currencies rise and fall, how to anticipate this and capitalize on it, and possibly the most important aspect that you will become skilled at with your forex training, is management techniques to keep your losses low and your gains high.
Forex training will provide you with everything you need to start your trading. Armed with this valuable information you will increase your chances of being successful in the forex and making money doing it.
You can find a good forex training program online which should teach you valuable methods that you will need before you begin to trade on the foreign exchange.
You can get forex training in various formats:
*One such format is seminars. These are hosted by experts who have been traders for years as well as specialists on the subject. They should explain everything in detail and because it is fully interactive you can ask anything you are unsure about.
*Another training format is online courses. You should take a trading course online that is easy to join and can give you insight into trading strategies, reading charts, and provides you with a demo account. A demo account is structured as if it were a true account with real money, except you are just practicing and will not lose any real money. This form of forex training is usually limited to a certain period of time.
*At Forex they will offer their own forex training which is a self study guide made up of the following key elements which need to be learned in order to successfully trade: You need to understand the elements that drive currency movement and the quoting thereof, you get to practice reading and analyzing currency charts with Forex tools, and you need to learn how to recognize market trends and capitalize on them.
Part of a good forex training program will also ensure that you use your financial leverage effectively when it comes to Forex trading. You will learn about stop loss and other orders to ensure protection and management of any open positions, you will begin to understand how and why world currencies rise and fall, how to anticipate this and capitalize on it, and possibly the most important aspect that you will become skilled at with your forex training, is management techniques to keep your losses low and your gains high.
Forex training will provide you with everything you need to start your trading. Armed with this valuable information you will increase your chances of being successful in the forex and making money doing it.
Monday, January 5, 2009
About Forex Rate
At Forex Rate our aim is to provide as much free Currency trading information as possible on one site. Our pages are geared towards active currency daytraders and include our Forex Forum currency message boards, Online Forex Trading recomendations and information, live forex charts, live forex quotes for most currency cross pairs,daily currency trading news and forex forecasts with our free RSS news feed. We also provide intraday and end of day forex historical data - free for downloading. Forex Rate provides live information for currency trading.Forex Rate - Currency Trading News, contact us at info at forex rate.co.uk
Introduction to Forex Trading
Introduction to Forex Trading
FOREX is the world’s largest and most liquid trading market. In our opinion ,FOREX is one of the best home business you can ever venture in. Even though regular people have had the opportunity to take part in trading foreign currencies for speculations (in the same way banks and large corporations do) since 1998, it is just now becoming the cool, hip, new "thing" to talk about at parties, business events, and other social gatherings.Even though it has been somewhat of a loosely guarded secret, every day more and more investors are turning to the all-electronic world of FOREX trading because of what they perceive as its numerous benefits & advantages over traditional trading vehicles, like stocks, bonds and commodities.But, still, whenever something seems new or is just becoming a part of social conversation, news articles, and water cooler gossip, misconceptions have to be overcome, the mind has to be open and the slate has to be clear for starting out fresh with the CORRECT information.So, in this article, it is my attempt to give you some solid, but not over-detailed, information on just what the heck "FX" (FOREX) means, what it is, and why it exists.Here's an explanation (one I feel you'll appreciate) of what FOREX is and how a bunch of traders, operate in this market
FOREX is the world’s largest and most liquid trading market. In our opinion ,FOREX is one of the best home business you can ever venture in. Even though regular people have had the opportunity to take part in trading foreign currencies for speculations (in the same way banks and large corporations do) since 1998, it is just now becoming the cool, hip, new "thing" to talk about at parties, business events, and other social gatherings.Even though it has been somewhat of a loosely guarded secret, every day more and more investors are turning to the all-electronic world of FOREX trading because of what they perceive as its numerous benefits & advantages over traditional trading vehicles, like stocks, bonds and commodities.But, still, whenever something seems new or is just becoming a part of social conversation, news articles, and water cooler gossip, misconceptions have to be overcome, the mind has to be open and the slate has to be clear for starting out fresh with the CORRECT information.So, in this article, it is my attempt to give you some solid, but not over-detailed, information on just what the heck "FX" (FOREX) means, what it is, and why it exists.Here's an explanation (one I feel you'll appreciate) of what FOREX is and how a bunch of traders, operate in this market
MANAGE YOUR FOREX ACCOUNT
Forex4Asia has specialized team in providing professional Forex investment management account on a discretionary basis wide variety of markets including the worldwide inter-bank foreign exchange (Forex) market. Its programs are technical, trend-following, support & resistance, volatility systems and are speculative in nature. In managed Account you don't need to send money to us its very simple you just have to open an account with your bank nearest to your locality . We will only open your account with FXCM on your request with your name. Managed Account investors are advised to carefully check your account statement weekly, fortnightly and monthly basis. Invest in your future and Trade FOREX with a managed account. Forex4asia team is always ready and vigilant to manage you accounts.
Forex for Asia is Giving Effecient & Different Services
Forex4Asia has very trained and experienced team members. They are doing Currencies business since last 10 years and have gained a lot of experience. Here is a little difference which our Client gain during the previous month on little investment.So Become a Member and get more services to improve your Trading.*“The Views and opinions represented in the provided website links and resources are not controlled by the introducer or the FCM. Further, the introducer and the FCM are not responsible for their availability, content, or delivery of services.”*Note:- These profit/loss are not confirmed these can be increased and these can be convert into loss. Because this is very risky market. Forex4Asia is not responsible for any loss during trading client will loss.
Friday, January 2, 2009
The Good News About Forex Automated Trading
The Good News About Forex Automated Trading
I’ve received positive and negative feedback from a lot of you who have experienced forex automation. I don’t want to talk about the bad news quite yet. So what’s the good? Unfortunately, the good news mostly involves available API’s for developing your system and brokers that support automation. I haven’t heard of many success stories relating to forex automated trading. Here are some recommended API’s and brokers and some comments on whether I will explore them further.
Interactive Brokers has a free C++, Java, and .NET API. The C++ API does not come highly recommended from the one trader I received an email from but the API’s are free. He also goes on to say that, “Interactive Brokers is also good from a fund safety point of view, given they are one of the bigger brokerages. Commission is very cheap and they basically offer anything you can trade.” This seems to be the best option I’ve seen and definitely worth exploring further.
Another trader recommended Varengold Bank for trading via Metatrader. He says that he has “yet to find anything to come close to their service utilizing the Metatrader platform.” Varengold Bank is a German bank and has regulatory oversight by the German Federal Financial Services Supervisory Agency. Unfortunately I don’t have a lot of experience with brokers or regulatory agencies outside of the United States yet this may be worth exploring if Metatrader is the platform of choice.
Interbankfx with Metatrader comes recommended also. A trader who just recently started using IBFX states, “I just started live automated trading this week… They seem to be very EA friendly and come highly recommended.”
MB Trader comes recommended due to their “well documented API and you can develop and test your system on their demo servers for free. MB Trading is a relatively well-known firm inside the United States so this could be yet another option worth exploring.
Ninja trader comes recommended and could be a “good option that allows for testing and development for free.” It’s also broker independent supporting Gain Capital, Interactive Brokers, MB Trading, and more. I like options and with the multiple brokerage support, I may look into Ninja Trader further.
Other options include FXCM’s FSS or Forex system selector. Based on what I’ve read though, you really can’t design your own system. You can select from their own designed forex systems. I don’t see the benefit to this at all.
FXTraderLink provides a facility for automatically trading your account based on signals from a portfolio of signal providers. I don’t want to rely on a signal provider to “provide” me with wealth plus I don’t trust them. I’m not a big fan.
I haven’t even begun to explore any of these options yet but I will regardless of the bad news I’ve received from others. Is it possible to make money with forex automation? Unfortunately I cannot answer this. I’ve had a tough enough time making money manually trading but at this point, I’d like to try something else
Interactive Brokers has a free C++, Java, and .NET API. The C++ API does not come highly recommended from the one trader I received an email from but the API’s are free. He also goes on to say that, “Interactive Brokers is also good from a fund safety point of view, given they are one of the bigger brokerages. Commission is very cheap and they basically offer anything you can trade.” This seems to be the best option I’ve seen and definitely worth exploring further.
Another trader recommended Varengold Bank for trading via Metatrader. He says that he has “yet to find anything to come close to their service utilizing the Metatrader platform.” Varengold Bank is a German bank and has regulatory oversight by the German Federal Financial Services Supervisory Agency. Unfortunately I don’t have a lot of experience with brokers or regulatory agencies outside of the United States yet this may be worth exploring if Metatrader is the platform of choice.
Interbankfx with Metatrader comes recommended also. A trader who just recently started using IBFX states, “I just started live automated trading this week… They seem to be very EA friendly and come highly recommended.”
MB Trader comes recommended due to their “well documented API and you can develop and test your system on their demo servers for free. MB Trading is a relatively well-known firm inside the United States so this could be yet another option worth exploring.
Ninja trader comes recommended and could be a “good option that allows for testing and development for free.” It’s also broker independent supporting Gain Capital, Interactive Brokers, MB Trading, and more. I like options and with the multiple brokerage support, I may look into Ninja Trader further.
Other options include FXCM’s FSS or Forex system selector. Based on what I’ve read though, you really can’t design your own system. You can select from their own designed forex systems. I don’t see the benefit to this at all.
FXTraderLink provides a facility for automatically trading your account based on signals from a portfolio of signal providers. I don’t want to rely on a signal provider to “provide” me with wealth plus I don’t trust them. I’m not a big fan.
I haven’t even begun to explore any of these options yet but I will regardless of the bad news I’ve received from others. Is it possible to make money with forex automation? Unfortunately I cannot answer this. I’ve had a tough enough time making money manually trading but at this point, I’d like to try something else
The Bad News About Forex Automated Trading
The Bad News About Forex Automated Trading
I’ve read a lot about how automated forex trading systems just don’t work in the long run but I can’t conclude this from personal experience. I’ve never seriously traded forex using automation. The following is an email from a trader who can conclude this from his experience. I found it totally worth sharing.
I came across your blog this afternoon whilst casually surfing the various forums in lieu of watching rubbish on TV.
I find your search for trading success an interesting one as in many respects it mirrors my own experience in many ways.
I spent well over two years, pretty much full time, searching for automated solutions to trading, having been in the process automation business for 25 years. To summarise, I have concluded it is a futile exercise with the technologies currently open to the average retail trader. I have yet to find any expert that is reliable enough to be left trading on its own and have pretty much concluded that most are really curve fitting solutions. I have seen no strategies posted anywhere that are consistent or reliable and capable of being automated without significant risk. I see some that pertain to be profitable (Artemis would be an example) but it needs constant adjustment and tuning which makes it akin to semi automation, not full automation.
However, there are manual strategies that are available that are profitable; they just do not lend themselves to automation due to the ability of the human braoin to make decisons based on proce movement that are pretty much impossible for any expert to make. So I abandoned my search for full automation solutions a year ago and concluded semi - automation was probably the right route. I trade manually today, with a few automated aids.
Linked with that, money management and certainly trading psychology are massive keys to success, the first to ensure you are alive to trade tomorrow and the latter because it takes time to get your mental state right to be able to trade at all, and that is what takes the time Rich. Sure, you need to understand the basics of trading, but without the right mental state, you’ll never be consistently profitable.
I came across your blog this afternoon whilst casually surfing the various forums in lieu of watching rubbish on TV.
I find your search for trading success an interesting one as in many respects it mirrors my own experience in many ways.
I spent well over two years, pretty much full time, searching for automated solutions to trading, having been in the process automation business for 25 years. To summarise, I have concluded it is a futile exercise with the technologies currently open to the average retail trader. I have yet to find any expert that is reliable enough to be left trading on its own and have pretty much concluded that most are really curve fitting solutions. I have seen no strategies posted anywhere that are consistent or reliable and capable of being automated without significant risk. I see some that pertain to be profitable (Artemis would be an example) but it needs constant adjustment and tuning which makes it akin to semi automation, not full automation.
However, there are manual strategies that are available that are profitable; they just do not lend themselves to automation due to the ability of the human braoin to make decisons based on proce movement that are pretty much impossible for any expert to make. So I abandoned my search for full automation solutions a year ago and concluded semi - automation was probably the right route. I trade manually today, with a few automated aids.
Linked with that, money management and certainly trading psychology are massive keys to success, the first to ensure you are alive to trade tomorrow and the latter because it takes time to get your mental state right to be able to trade at all, and that is what takes the time Rich. Sure, you need to understand the basics of trading, but without the right mental state, you’ll never be consistently profitable.
Places To Get a Great Forex Trading System
Places To Get a Great Forex Trading System
It’s very important that if you’re exploring forex trading or already trading that you have a trading system. One aspect of that trading system are the actual setup rules which usually contain entry and exit techniques. Traders put a lot of time and effort in developing these setup rules too often neglecting other aspects such as position sizing or relative size of your profits compared to losses. Therefore it’s important to find a comprehensive forex trading system.
Where can you find a comprehensive forex trading system? Throughout the last three years, I’ve been through many trading systems obtained mostly from books, forums, or other websites. I’ve found that almost every time, I’ll mold that system into something totally different than the original incarnation, something that fits my personality and style of trading. Many times, the original system will also need to be expanded to include things that were neglected or forgotten. Those of you searching for the perfect system may find this method of modifying existing forex trading systems desirable. There are places where you can find the whole package without any need for modification.
This brings me to the question, "where did you get your forex trading system?" I think there are four main ways of getting a trading system.
Buy it. There are tons for sale out there on the net but heed caution. Many were just copied from forums, books, or other websites. Sometimes when you buy forex education, part of the package will include a trading system. For instance, Rob Booker provides his Arizona rules as part of his mentoring program.
Get a free one. There are many free systems that can be found in books, forums, or other websites. I guess one can question whether a system found is a book is free since you paid for the book.
Create an original system yourself. My main trading system is an original creation. There may be other systems out there that are similar to it since it’s a culmination of years of exposure to other systems and experiences.
Modify someone else’s system and make it your own. As I stated above, I have done this many times.
I’ve created a poll that asks you this question here. http://www.forexproject.com/forex-polls/
Where can you find a comprehensive forex trading system? Throughout the last three years, I’ve been through many trading systems obtained mostly from books, forums, or other websites. I’ve found that almost every time, I’ll mold that system into something totally different than the original incarnation, something that fits my personality and style of trading. Many times, the original system will also need to be expanded to include things that were neglected or forgotten. Those of you searching for the perfect system may find this method of modifying existing forex trading systems desirable. There are places where you can find the whole package without any need for modification.
This brings me to the question, "where did you get your forex trading system?" I think there are four main ways of getting a trading system.
Buy it. There are tons for sale out there on the net but heed caution. Many were just copied from forums, books, or other websites. Sometimes when you buy forex education, part of the package will include a trading system. For instance, Rob Booker provides his Arizona rules as part of his mentoring program.
Get a free one. There are many free systems that can be found in books, forums, or other websites. I guess one can question whether a system found is a book is free since you paid for the book.
Create an original system yourself. My main trading system is an original creation. There may be other systems out there that are similar to it since it’s a culmination of years of exposure to other systems and experiences.
Modify someone else’s system and make it your own. As I stated above, I have done this many times.
I’ve created a poll that asks you this question here. http://www.forexproject.com/forex-polls/
HISTORY OF FOREX
The origin of FOREX trading traces its history to centuries ago. Different currencies and the need to exchange them had existed since the Babylonians. They are credited with the first use of paper notes and receipts. Speculation hardly ever happened, and certainly the enormous speculative activity in the market today would have been frowned upon.
In those days, the value of goods were expressed in terms of other goods(also called as the Barter System). The obvious limitations of such a system encouraged establishing more generally accepted mediums of exchange. It was important that a common base of value could be established. In some economies, items such as teeth, feathers even stones served this purpose, but soon various metals, in particular gold and silver, established themselves as an accepted means of payment as well as a reliable storage of value. Trade was carried among people of Africa, Asia etc through this system.
Coins were initially minted from the preferred metal and in stable political regimes, the introduction of a paper form of governmental I.O.U. during the Middle Ages also gained acceptance. This type of I.O.U. was introduced more successfully through force than through persuasion and is now the basis of today’s modern currencies.
Before the First World war, most Central banks supported their currencies with convertibility to gold. However, the gold exchange standard had its weaknesses of boom-bust patterns. As an economy strengthened, it would import a great deal from out of the country until it ran down its gold reserves required to support its money; as a result, the money supply would diminish, interest rates escalate and economic activity slowed to the point of recession. Ultimately, prices of commodities had hit bottom, appearing attractive to other nations, who would sprint into buying fury that injected the economy with gold until it increased its money supply, drive down interest rates and restore wealth into the economy.. However, for this type of gold exchange, there was not necessarily a Centrals bank need for full coverage of the government's currency reserves. This did not occur very often, however when a group mindset fostered this disastrous notion of converting back to gold in mass, panic resulted in so-called "Run on banks " The combination of a greater supply of paper money without the gold to cover led to devastating inflation and resulting political instability. The Great Depression and the removal of the gold standard in 1931 created a serious lull in FOREX market activity. From 1931 until 1973, the FOREX market went through a series of changes. These changes greatly affected the global economies at the time and speculation in the FOREX markets during these times was little.
In order to protect local national interests, increased foreign exchange controls were introduced to prevent market forces from punishing monetary irresponsibility.
Near the end of World War II, the Bretton Woods agreement was reached on the initiative of the USA in July 1944. The conference held in Bretton Woods, New Hampshire rejected John Maynard Keynes suggestion for a new world reserve currency in favor of a system built on the US Dollar. International institutions such as the IMF, The World Bank and GATT were created in the same period as the emerging victors of WWII searched for a way to avoid the destabilizing monetary crises leading to the war. The Bretton Woods agreement resulted in a system of fixed exchange rates that reinstated The Gold Standard partly, fixing the USD at $35.00 per ounce of Gold and fixing the other main currencies to the dollar, initially intended to be on a permanent basis.
The Bretton Woods system came under increasing pressure as national economies moved in different directions during the 1960’s. A number of realignments held the system alive for a long time but eventually Bretton Woods collapsed in the early 1970’s following president Nixon's suspension of the gold convertibility in August 1971. The dollar was not any longer suited as the sole international currency at a time when it was under severe pressure from increasing US budget and trade deficits.
The last few decades have seen foreign exchange trading develop into the world’s largest global market. Restrictions on capital flows have been removed in most countries, leaving the market forces free to adjust foreign exchange rates according to their perceived values.
The European Economic Community introduced a new system of fixed exchange rates in 1979, the European Monetary System. The quest continued in Europe for currency stability with the 1991 signing of The Maastricht treaty. This was to not only fix exchange rates but also actually replace many of them with the Euro in 2002. London was, and remains the principal offshore market. In the 1980s, it became the key center in the Eurodollar market when British banks began lending dollars as an alternative to pounds in order to maintain their leading position in global finance.
In Asia, the lack of sustainability of fixed foreign exchange rates has gained new relevance with the events in South East Asia in the latter part of 1997, where currency after currency was devalued against the US dollar, leaving other fixed exchange rates in particular in South America also looking very vulnerable.
While commercial companies have had to face a much more volatile currency environment in recent years, investors and financial institutions have discovered a new playground. The FOREX exchange market initially worked under the central banks and the governmental institutions but later on it accommodated the various institutions, at present it also includes the dot com booms and the world wide web. The size of the FOREX market now dwarfs any other investment market. The foreign exchange market is the largest financial market in the world. Approximately 1.9 trillion dollars are traded daily in the foreign exchange market. It is estimated that more than USD 1,200 Billion are traded every day. It can be said easily that FOREX market is a lucrative opportunity for the
In those days, the value of goods were expressed in terms of other goods(also called as the Barter System). The obvious limitations of such a system encouraged establishing more generally accepted mediums of exchange. It was important that a common base of value could be established. In some economies, items such as teeth, feathers even stones served this purpose, but soon various metals, in particular gold and silver, established themselves as an accepted means of payment as well as a reliable storage of value. Trade was carried among people of Africa, Asia etc through this system.
Coins were initially minted from the preferred metal and in stable political regimes, the introduction of a paper form of governmental I.O.U. during the Middle Ages also gained acceptance. This type of I.O.U. was introduced more successfully through force than through persuasion and is now the basis of today’s modern currencies.
Before the First World war, most Central banks supported their currencies with convertibility to gold. However, the gold exchange standard had its weaknesses of boom-bust patterns. As an economy strengthened, it would import a great deal from out of the country until it ran down its gold reserves required to support its money; as a result, the money supply would diminish, interest rates escalate and economic activity slowed to the point of recession. Ultimately, prices of commodities had hit bottom, appearing attractive to other nations, who would sprint into buying fury that injected the economy with gold until it increased its money supply, drive down interest rates and restore wealth into the economy.. However, for this type of gold exchange, there was not necessarily a Centrals bank need for full coverage of the government's currency reserves. This did not occur very often, however when a group mindset fostered this disastrous notion of converting back to gold in mass, panic resulted in so-called "Run on banks " The combination of a greater supply of paper money without the gold to cover led to devastating inflation and resulting political instability. The Great Depression and the removal of the gold standard in 1931 created a serious lull in FOREX market activity. From 1931 until 1973, the FOREX market went through a series of changes. These changes greatly affected the global economies at the time and speculation in the FOREX markets during these times was little.
In order to protect local national interests, increased foreign exchange controls were introduced to prevent market forces from punishing monetary irresponsibility.
Near the end of World War II, the Bretton Woods agreement was reached on the initiative of the USA in July 1944. The conference held in Bretton Woods, New Hampshire rejected John Maynard Keynes suggestion for a new world reserve currency in favor of a system built on the US Dollar. International institutions such as the IMF, The World Bank and GATT were created in the same period as the emerging victors of WWII searched for a way to avoid the destabilizing monetary crises leading to the war. The Bretton Woods agreement resulted in a system of fixed exchange rates that reinstated The Gold Standard partly, fixing the USD at $35.00 per ounce of Gold and fixing the other main currencies to the dollar, initially intended to be on a permanent basis.
The Bretton Woods system came under increasing pressure as national economies moved in different directions during the 1960’s. A number of realignments held the system alive for a long time but eventually Bretton Woods collapsed in the early 1970’s following president Nixon's suspension of the gold convertibility in August 1971. The dollar was not any longer suited as the sole international currency at a time when it was under severe pressure from increasing US budget and trade deficits.
The last few decades have seen foreign exchange trading develop into the world’s largest global market. Restrictions on capital flows have been removed in most countries, leaving the market forces free to adjust foreign exchange rates according to their perceived values.
The European Economic Community introduced a new system of fixed exchange rates in 1979, the European Monetary System. The quest continued in Europe for currency stability with the 1991 signing of The Maastricht treaty. This was to not only fix exchange rates but also actually replace many of them with the Euro in 2002. London was, and remains the principal offshore market. In the 1980s, it became the key center in the Eurodollar market when British banks began lending dollars as an alternative to pounds in order to maintain their leading position in global finance.
In Asia, the lack of sustainability of fixed foreign exchange rates has gained new relevance with the events in South East Asia in the latter part of 1997, where currency after currency was devalued against the US dollar, leaving other fixed exchange rates in particular in South America also looking very vulnerable.
While commercial companies have had to face a much more volatile currency environment in recent years, investors and financial institutions have discovered a new playground. The FOREX exchange market initially worked under the central banks and the governmental institutions but later on it accommodated the various institutions, at present it also includes the dot com booms and the world wide web. The size of the FOREX market now dwarfs any other investment market. The foreign exchange market is the largest financial market in the world. Approximately 1.9 trillion dollars are traded daily in the foreign exchange market. It is estimated that more than USD 1,200 Billion are traded every day. It can be said easily that FOREX market is a lucrative opportunity for the
Money Management Forex Books
While Forex trading is tightly connected with analysing the charts and the fundamental indicators, knowing where to enter and where to exit a position is not enough. Professional traders manage their risks and devote a lot of their time to learning the techniques of the proper money management. Here you can find some of the best Forex e-books about money management in the financial trading.
Almost all Forex e-books are in .pdf format. You'll need Adobe Acrobat Reader to open these e-books. Some of the e-books (those that are in parts) are zipped.
If you are the copyright owner of any of these e-books and don't want me to share them, please, contact me and I will gladly remove them.
Risk Control and Money Management — by Gibbons Burke.
Money Management — A chapter from The Mathematics of Gambling.
Position-sizing Effects on Trader Performance: An experimental analysis — by Johan Ginyard.
Fine-Tuning Your Money Management System — by Bennett A. McDowel.
Trade Your Way to Financial Freedom — by Van K. Tharp.
Money Management: Controlling Risk and Capturing Profits — by Dave Landry, a short but educative guide to money management for the financial traders.
Money Management in Gambling — an excerpt section of the classic book by Dr. Edward O. Thorp — The Mathematics of Gambling; this chapter deals with the probabilities and money management in risk activities, so it's included here.
Money Management Strategies for Serious Traders — a book by David Stendahl that tries to explain the process by which the traders can develop, evaluate and improve the performance of their trading systems based on the money management strategies.
Almost all Forex e-books are in .pdf format. You'll need Adobe Acrobat Reader to open these e-books. Some of the e-books (those that are in parts) are zipped.
If you are the copyright owner of any of these e-books and don't want me to share them, please, contact me and I will gladly remove them.
Risk Control and Money Management — by Gibbons Burke.
Money Management — A chapter from The Mathematics of Gambling.
Position-sizing Effects on Trader Performance: An experimental analysis — by Johan Ginyard.
Fine-Tuning Your Money Management System — by Bennett A. McDowel.
Trade Your Way to Financial Freedom — by Van K. Tharp.
Money Management: Controlling Risk and Capturing Profits — by Dave Landry, a short but educative guide to money management for the financial traders.
Money Management in Gambling — an excerpt section of the classic book by Dr. Edward O. Thorp — The Mathematics of Gambling; this chapter deals with the probabilities and money management in risk activities, so it's included here.
Money Management Strategies for Serious Traders — a book by David Stendahl that tries to explain the process by which the traders can develop, evaluate and improve the performance of their trading systems based on the money management strategies.
Forex Books for Beginners
Here you will find the Forex e-books that provide the basic information on Forex trading. You can learn basic concepts of the Forex market, the technical and fundamental analysis. While all these e-books are recommended for every new Forex trader, they won't be very useful to the very experienced traders.
Almost all Forex e-books are in .pdf format. You'll need Adobe Acrobat Reader to open these e-books. Some of the e-books (those that are in parts) are zipped.
If you are the copyright owner of any of these e-books and don't want me to share them, please, contact me and I will gladly remove them.
Candlesticks For Support And Resistance — The basics of trading with candlesticks charts by John H. Forman.
Almost all Forex e-books are in .pdf format. You'll need Adobe Acrobat Reader to open these e-books. Some of the e-books (those that are in parts) are zipped.
If you are the copyright owner of any of these e-books and don't want me to share them, please, contact me and I will gladly remove them.
Candlesticks For Support And Resistance — The basics of trading with candlesticks charts by John H. Forman.
EMPFX — Swiss Broker with Custom Platform
EMPFX is a newly listed Forex broker on my site. It’s operated by the Swiss company E-Money Power Ltd and offers its services on-line since 2007. EMPFX has the very low spreads — 1 pip on EUR/USD and some other major currency pairs and a fixed leverage at 1:200. The trading is performed via their custom stand-alone trading platform (unfortunately it’s no MetaTrader 4). The minimum deposit to start trading with this broker is $300 and the methods of funds transfer include Moneybookers, credit card, check and wire transfer. The Muslim-friendly accounts are available for those who don’t want to pay or receive the overnight interest rates on the open positions. For those who prefer to invest rather than to trade, the managed Forex accounts are available.
HMS Markets — Another Forex Broker from Luxembourg
HMS Markets is the second regulated Forex broker from Luxembourg that was added to the list on my site recently. It’s a multi-market broker that offers not only Forex but also CFD, futures and stocks trading services. The platform is custom — HMS Trader 2. The spreads on the Forex currency pairs are variable — but usually higher than 2 pips. The mini-trading is available, but the commission is charged for trades with the volume below 0.5 lot (or 1 lot for some pairs). The only method of the account funding available is the wire transfer. The U. S. citizens are not allowed to open trading accounts with HMS Markets.
PS: Today my server experienced its first DDoS attack, which is, of course, a not very nice thing because many people weren’t able to access my sites, but on the other hand that’s quite nice in my opinion — that means that the site really matters and its content is interesting to someone.
PS: Today my server experienced its first DDoS attack, which is, of course, a not very nice thing because many people weren’t able to access my sites, but on the other hand that’s quite nice in my opinion — that means that the site really matters and its content is interesting to someone.
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