Forex Trading Resources

Signals for 27/02/08

2008-02-27T04:44:00.000-08:00

Hwllo, how are you doing, I hope you had a great night rest, now lets get to business.

Let's talk about today.

1. Wednesday, February 27th, 2008 (4:30 a.m. New York Time) UK
At 4:30 a.m. we will have UK GDP q/q coming out. I am going to use 0.1 trigger on this. On the retracement, I would enter pretty close to the pre-release price. If it comes out at 0.7% or higher, you can buy GBP/USD or GBP/JPY; if it comes out at 0.5% or lower, you can sell GBP/USD or GBP/JPY. Either way, expect about 40 pips on GBP/USD and about 60 pips on GBP/JPY.

2. Wednesday, February 27th, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m we will have U.S. Core Durable Goods. It was kind of cold indicator recently but I think it may start moving the market. I would trade about 1.5 deviation on it. It is expected to come out at -1.4%. If it comes out at 0.1% or higher, I would buy USD/JPY. If it comes out at -3.0% or more negative, I would sell USD/JPY. If the trigger is hit, I would expect 25 to 30 pips of a price action on the USD/JPY. It will also depend on the trend right before the report.

3. Wednesday, February 27th, 2008 (10:00 a.m. New York Time) USA
At 10:00 a.m. we will have U.S. New Home Sales coming out. It is expected to come out at 600K. Be careful on USD/JPY on this (watch the video for more details). I think 50K trigger either direction should be sufficient on this. If it comes out at 650K or higher, I would buy USD/JPY and I would expect 30 to 40 pips price movement. If it comes out at 550K or lower, that would be a sell signal on USD/JPY and I would look for 25 to 30 pips of a price action.

That's all for today. I wanna wish you a good luck in your trades.
Have a great day today and always.

Hello Reader

2008-02-27T04:39:00.001-08:00

Hey,
I know you must really be angry with me, I am so sorry, i have been kinda busy these days, you know i am a student and workload just came through that i had to attend to and so i was not able to update you. I am really so sorry about that. I am. Please bear with me, we will soon be back on and running with the signals and strategies i promise.
I hope you are making it really in the forex, really i have been off the markets for a while but not to worry, we are still together partners in the money making business.
I am with you. Have a great day today and always.

Trading Signals for Wednesday, 16th Jan, 2007

2008-01-16T03:42:00.000-08:00

Hello, how are you doing today, I hope you are great.

Let's first review what happened on Tuesday.

On Tuesday we had two reports that were worthy watching and possibly trading.

At 4:30 a.m. we had UK CPI y/y headline coming out. It came out 0.1 higher than expected so it did not let us trade it. Because at the same time the core number was down by 0.1 it was definitely a no trade. The price went up about 20 pips on the headline number and then it retraced completely and went the other way because of the core number. It was a good idea to stay away.

Then we had German ZEW. Nothing really to take about.

Then we had U.S. Retail Sales X Autos coming out. We were looking to sell USD/JPY if it came out -0.6 or lower with -0.1 consensus. Although the trigger was not hit, we did get a negative deviation but I did not think it would be enough to enter the trade. USD/JPY moved about 92 pips in the first hour of the report. However, I personally stayed out as it was a no trade for me. Well, better safe than sorry, there will be plenty other opportunities.

Let's talk about Wednesday.

1. Wednesday, January 16th, 2008 (4:30 a.m. New York Time) UK
At 4:30 a.m. we will have the U.K. Average Earnings + Bonus. I will be trading it with 0.2 trigger. If it comes out at 4.1 or higher, I would buy GBP/USD. If it comes out at 3.7 or lower, I would sell GBP/USD. If there is a conflict with unemployment rate, I would stay out of the trade. Ideally, you want to see unemployment number coming out as expected or coming the opposite direction than the Average Earnings. Last month we had 0.2 deviation and it moved the market about 30 pips in the first couple of minutes.

2. Wednesday, January 16th, 2008 (8:30 a.m. New York Time) USA
Then at 8:30 we will have U.S. Core CPI coming out. I would trade this on EUR/USD. We did not have a lot of deviations on the core CPI but if we get a deviation, I believe the EUR/USD will perform best. Stay away from USD/JPY on this report as it is a quite unpredictable pair on this report. On 0.1 trigger expect about 40 pips price action. If the Core CPI (also known as CPI X Food and Energy) comes out at 0.3% or higher, it would be good for the dollar so I would sell EUR/USD. If it comes out at 0.1 or lower, it is going to be bad for the dollar, and I would buy EUR/USD. As always, keep an eye on y/y and headline numbers. Sometimes when the core number is flat but headline gives a big deviation, you may see a nice move. Also, if you see conflicts, you may want to exit early although the core should be able to take over the headline number.

3. Wednesday, January 16th, 2008 (9:00 a.m. New York Time) USA
At 9:00 a.m. we will have U.S. TIC Index coming out. If it comes out at 20 or lower, I would sell USD/JPY. If it comes out at 120 or higher, I would buy the USD/JPY. This indicator can be traded only if there is a big surprise. If the trigger is hit, expect about 30 pips move.

4. Wednesday, January 16th, 2008 (9:15 a.m. New York Time) USA
Then at 9:15 a.m. we will have U.S. Industrial Production. This is not a big deal although sometimes you can scalp a few pips. Don't worry about this one too much.

5. Wednesday, January 16th, 2008 (4:45 p.m. New York Time) NEW ZEALAND
Then we will have New Zealand CPI quarterly release. It is expected to come out at 1%. With this indicator you can use 0.2 trigger. If it comes out at 1.2% or higher, it would be strong for the New Zealand dollar and you want to buy NZD/USD, looking for 40 to 50 pips or more in the first hour. If it comes out at 0.8% or lower, that would be weak for the New Zealand dollar and you may want to sell NZD/USD and expect 40 to 50 pips or more in the first hour of the report.

6. Wednesday, January 16th, 2008 (7:30 p.m. New York Time) AUSTRALIA
Then we will have Australian Employment Change. It is expected to come out at 20K. You can use 15K trigger on this report. If it comes out at 35K or higher, I would buy AUD/USD, looking for 30 pips or more. If it comes out at 5K or lower, I would sell AUD/USD, looking for 30 pips or more in the first hour of the report.

That's all for Wednesday.

Have a great day.

News Trading With Its Own Risks

2008-01-15T09:34:00.000-08:00

Hello, How are you doing and I hope you are having a great day trading the forex today. I am sorry i could not post the signals here, I was really busy today and if you ask me, I did not go to the market although there were a couple of moves like the USDJPY move and the resultant move on the GBPUSD but I only got there to see it, I did not trade it.

I was just not gonna allow today to pass by without saying something to my dear readers. You know i was thinking, News Trading really does have its own risks. I have experienced what it feels like to place a trade, you know just before the news, you execute what we call straddles. Okay let me briefly talk about that.

Straddles is a system of trading the news where you place a pending order just before the news release. You put a buy stop at a price above current market price and a sell stop below current market price. The idea is that if news come out, whatever direction the market decides to go, your pending order will be executed and you will make a good money in it. You would have put your take profit as well so that you dont have to be worrying about closing the order. Now that explains straddles and it does sound so easy and cool. Yeah it is.

But the problem now is that most brokers have problem during the news and they kind of fill your order in at a wrong price and if market moves with a spike and it executes your order, but fails to move towards the direction for too long, reverses and you are in a loss already, what happens? You are gonna be closing at a loss. Now that is the risk involved and it could really be painful.

Did you ever watch someone do something on TV, and then they tell you “Don’t try this at home”. Same applies to news trading. Don’t try it at home, if you are new to it, and you don’t know what you are doing. Why? Since trading the news is so lucrative, don’t you think that a lot of traders are trying to do it? Yes, of course, that’s exactly why it’s so lucrative, because there is a lot of volume and price action, and at the same time, that’s exactly why it can be very dangerous. Imagine that it’s 4:29 am, and the price on GBP/USD is at 1.9605. At 4:30 am, we have UK Retail Sales scheduled that are expected to read 0.5%. Imagine, the retail sales read 1.0%, and you feel that it’s good for the pound, so you click on the button to buy GBP/USD at 1.9605, except instead of filling you at 1.9605, your broker slips you and fills you at 1.9645. You got filled at the very top of the spike, you see price retracing now, you get scared, and exit with a loss, and you wonder what happened. Well, what happened is what happens with almost every important news announcement. There is a big spike that happens in the first 5 to 15 seconds, because so many people are trying to go in the same direction. Then traders realize that the market over-reacted, so they close their positions, and the market makes a retracement. Then as it retraces, the price becomes more attractive, so the people either again go long at better prices, or they allow the market to fully retrace and go into the opposite direction. Continuation of the move depends on the timing of the specific report, its importance, and the deviation from expectations and/or revision of previous number. Important price levels, many times known as support and resistance also play a very important role.

So you ask me what do you do in theses cases. What i will say is that, this depends mostly on your broker. If your broker is not a very good one, most of the times those who offer tight spreads, they dont know how to handle slippages and you will really cry for it, but if you deal with brokers who dont really shout about tight spreads and dealing desks, then you might be safer.

I will offer two ways i think you can handle this.

1. Trade straddles with stop losses. How? Now you will place a pending order, with a take profit above and a stop loss just about 10 pips below. This way, if the order goes the negative way against you, at least you will be stopped out from incurring large losses.

2. Follow the market direction. During important releases, you just open your order page and get ready to follow after the market direction. Although most of the times, you would have missed part of the move but at least you are safer and you can still make something out of it. This is completely manual as opposed to straddles which is completely automated.

These are the two ways i think one can minimize the risks involved in news trading. Now these are what i feel you can add yours to it.

I wanna wish you a success in your trades. Happy trading.

Have a great day.

News Trading Signal for Today, 11th January 2007

2008-01-11T01:46:00.000-08:00

Hello Good morning, how are you doing today. How were your trades yesterday, I hope you were able to catch some pips.
Okay, to the business of today but before then, let's first review what happened yesterday.

The UK Trade Balance barely deviated so we had a no trade. As simple as that.

Then the UK kept the rates unchanged at 5.50% as expected by most economists. I said it could give some strengthening to the British pound but it would not be reliable. What happened was there was a 60 pips spike up; however, it last only for 15 minutes before starting retracing and making new lows. You could have made some pips out of it but I think it would be unnecessary risk to take. Nevertheless, if you made money anyway, congratulations.

The Euro Zone also left the rates unchanged so another no trade here.

At 8:30 Trichet did not say anything surprising so it was a yawn speech and also a no trade.

The Initial Jobless Claims was at least quite interesting. The consensus was modified down from 345 K to 340 K. Once I saw that, I corrected it on the daily signals and provided new triggers. If you traded old triggers, it would be a loss; if you used a new set of triggers like we did in Diamonds room, it would be a no trade. We had 12 pips price action up, and then it started going the other way. I hope you either adjusted your trigger or at least had an appropriate stop loss. A good lesson that you might learnt from it is to make sure the consensus did not change right before the report as this text is usually written and send hours or sometimes even days before the report.

The Building Permits in Canada was also very interesting. It came in very negative: -9.9%, completely erasing the surprising gain that happened last month. We were looking to sell at -6.7% or lower. The price moved very quickly so frankly speaking when trading myself I missed a good entry here although it was still possible to make decent pips. To make the long story short, overall it moved 50 pips within 1 hour.

At 1 p.m. Bernanke was scheduled to testify. His comments were leaked at 12:16 p.m. In the first minute or so it moved 8 pips as it was unexpected but as people starting realizing what happened, EUR/USD moved up from 4740 to 4810 so about 70 pips move in the 45 minutes leading up to the report. If you had a news provider and you were aware of this, and in fact you made a trade, good for you. If you, however, showed up at 1 p.m. and looked at comments, you already missed the boat.

Let's now talk about Friday.

At 4:30 a.m. we will have U.K. Industrial Production. It is expected to come out at 0.1%. I recommend trading a 0.4 trigger although a 0.3 deviation sometimes work OK. If there is a 0.4 deviation either way, you can expect 40 pips price action on GBP/USD. So, if it comes out at 0.5% or higher, I would buy GBP/USD or GBP/JPY. On the other hand, if it comes out at -0.3% or more negative, I would sell GBP/USD or GBP/JPY or even GBP/CHF.

At 7 a.m. we will have Canadian Employment Change coming out. This is one of the strongest and most powerful indicators of the month. It is expected to come out at 15 K. If there is a 15 K deviation, I think it is worthy to trade. So, if it comes out at 0 K or negative, I would buy USD/CAD. If it comes out at 30 K or higher, you want to sell USD/CAD. The amount of price action solely depends how big the deviation is. If it is just 15K deviation, I would expect about 45 pips price action on USD/CAD. If it is 30 K or more, you can expect 70 or 100 pips on USD/CAD. What I noticed is over past 15 months we saw a lot of very positive deviations on CAD employment change so you may want to sell a small unit of USD/CAD right before the report and set up an appropriate SL in case it comes out the other way.

We also have U.S. and Canadian Trade Balance and U.S. Import Price Index at 8:30 a.m. I would focus on the Canadian Trade Balance. Of course, what happen on Canadian Employment Change may influence this trade but anyway I think 1.0 trigger is sufficient to trade the Canadian Trade Balance. If it comes out at 4.2B or higher, you may want to sell USD/CAD. If it comes out at 3.2 B or lower, you may want to buy USD/CAD. I would look at 30 pips price action on that report. The U.S. Trade Balance and Import Price Index are not big movers. If anything, they may either help a little or if they conflict, they will give you a good price to get in Canadian Trade Balance.

That would be all for Today.

Have a great day.

News Trading Signals for Today, 10th January, 2007.

2008-01-09T23:33:00.000-08:00

Hello good morning today, I hope you enjoyed your day off yesterday and thats if you really took the day off. Well i had a great day. Meanwhile,Let's first review what happened yesterday.

The U.S. Pending Home Sales came out too close to expectations so it was a no trade.

Australian Retail Sales deviated by 0.3 and unfortunately we missed our trigger of 0.4. There was a decent price action but it did not hit our trigger so it was a no trade.

We also had no trades on Wednesday.

Let's now talk about Thursday.

1. Thursday, January 10th, 2008 (4:30 a.m. New York Time,10:30 a.m Nigerian Time) UK
Tomorrow we will have the UK Trade Balance coming out at 4:30 a.m. This indicator used to perform quite well but last 3 times it failed with 700 M or even 900 M trigger as the price action went the other way. If you want to trade this, use 1000 M (1 B) deviation. Therefore, if it comes out at -8200 M or more negative, that would be weakening the pound and I would look to sell GBP/USD and expect 30 pips move price action to the downside on the GBP/USD. On the other hand, if it comes out at -6200 M or less negative, then it would be positive for the U.S. pound and I would expect to see 30 to 40 pips move price action to the upside on the GBP/USD.

2. Thursday, January 10th, 2008 (7:00 a.m. New York Time, 1:00 p.m Nigerian Time) UK
At 7 a.m. we will have UK Interest Statement coming out. It is expected they will hold the rate at 5.5% because they just cut rates recently. There is also 20% to 25% economists expecting them to cut the rate. Here is what I am going to do: if they keep the rates unchanged, I would probably stay away although it can be strengthening the pound a little bit. If they cut the rates, I would sell GBP/USD or GBP/JPY and expect 50 pips or more and 100 pips or more in the first hour, respectively.

3. Thursday, January 10th, 2008 (7:45 a.m. New York Time,1:45 a.m Nigerian Time) EURO ZONE
Then at 7:45 a.m. we will have Euro Zone Interest Rate Statement. It is unanimously expected they will hold the rates at 4.00%. If they hike the rates to 4.25%, you can buy EUR/USD and expect 50 pips or more price action in the first hour. If they cut the rates to 3.75% I would sell EUR/USD and expect 50 to 100 pips or more move to the downside.

4a. Thursday, January 10th, 2008 (8:30 a.m. New York Time,2:30 p.m Nigerian Time) EURO ZONE
At 8:30 a.m. we will have a few things coming out at the same time. We will have Trichet speaking but if you want to trade what he is speaking, you need to be a little bit more advanced trader and be able to listen to his tone. If he uses the "strong vigilance" phrase it is usually very bullish and you want to buy EUR/USD. Selling EUR/USD is a bit more problematic and you really need to be more advanced trader to trade his speeches.

4b. Thursday, January 10th, 2008 (8:30 a.m. New York Time,2:30 p.m Nigerian Time) CANADA
At 8:30 a.m. we will have Canadian Building Permits. It is expected to come out at -1.7%. Recently, building indicators out of several major countries started moving the market so we can try to trade this indicator with 5.0 trigger. Therefore, if it comes out at -6.7% or more negative, I would buy USD/CAD and expect 30 pips pips price action. If it comes out at 3.3% or higher, I would sell USD/CAD, and expect 30 pips price action. Last two months this indicator worked very well so it is time to start focusing on it.

4c. Thursday, January 10th, 2008 (8:30 a.m. New York Time, 2:30 p.m Nigerian Time) USA
At 8:30 a.m. we also have U.S. Unemployment Claims. It is expected to come out at 345 K. Usually, a 20K trigger is sufficient to trade and you can expect 25 pips price action on USD/JPY if the trigger is hit. Therefore, if it comes out at 365 K or higher, it would be bad for the U.S. dollar so I would sell USD/JPY. If it comes out at 325 K or lower, it would be good for the U.S. dollar and I would buy USD/JPY.

5. Thursday, January 10th, 2008 (8:30 a.m. New York Time, 2:30 p.m Nigerian Time) USA
At 1 p.m. we will have Bernanke speech. This also is for more advanced traders so if you are new in trading fundamentals, I would stay away. Keep an eye on some possible interesting price actions at 1 p.m.

I guess thats would be all for Thursday.

Do have a great day.

DAY OFF

2008-01-08T23:39:00.000-08:00

Hello,
There are will be no news worthy of trading today so we can take the day off and do some other things that are of value to us.
Have a great day.

News Signal For Today

2008-01-07T23:09:00.001-08:00

Hello and Good morning, I said yesterday there was nothing worthy of watching so much and so we did not go to the market, we took the day off. Today we have a couple of trades but first lets review what happened on Friday.

On Friday we had Swiss CPI. It did hit our trigger. The pre-release price on USD/CHF was 1.1128, and it traded down to as low as 1.1100 so only about 28 pips. I was expecting more especially with a very large downtrend we have been seeing all week. Unfortunately, that's all what we had. GBP/CHF traded from 2.1937 down to 2.1846 so GBP/CHF had 90 pips price action; however, it was still completely reversed.

Then we had UK Services PMI. We just missed our buy trigger. The price moved 85 pips so I wonder how many pips it would move if it did hit our trigger. GBP/JPY moved about 130 pips. If you took it because it was close to my trigger, you probably made a good money but the fact is it did not hit the trigger so it was a no trade.

Then we had the CPI out of Euro Zone. It came out exactly as it was expected so it was a no trade.

At 8:30 we had the U.S. Non-Farm Payroll. It came out at 18K so it did hit our buy signal on GBP/USD. Moreover, the unemployment rate came out at 5.00% with 0.2 deviation which was also pointing towards dollar weakness. They should weaken the dollar very well towards buy GBP/USD or sell USD/JPY. USD/JPY moved 100 pips in a few minutes, and it retraced back. The GBP/USD did not move up that much as it moved about 85 pips but EUR/USD moved a lot better.

Then we had ISM Non-Manufacturing, and it came out very close to expectations so it was a no trade. However, the Canadian Ivey PMI did hit our trigger. This one incredibly overreacted. It moved so quick so I did not get in, and it just kept going from 0.9922 to 1.0090. It was a lot of opportunity to buy USD/CAD on this report.

Let's now talk about Tuesday.

1. Tuesday, January 08th, 2008 (10:00 a.m. New York Time) USA
At 10 a.m. we will have U.S. Pending Home Sales coming out. It is expected to come out at -0.3%. I think we need to be more conservative on this report and use 5.0 trigger. If it comes out at 4.7% or higher, that would be positive for the U.S. dollar, and I would buy USD/JPY, looking for 30 pips move or more. If it comes out at -5.3 or more negative, I would sell USD/JPY and expect a move of 30 pips or more in the first hour of the report.

2. Tuesday, January 08th, 2008 (7:30 p.m. New York Time) AUSTRALIA
Then at 7:30 p.m. we will have Australian Retail Sales m/m coming out. It is expected to come out at 0.5%. I would trade 0.4 trigger on this one. If it comes out at 0.1% or lower, I would sell AUD/USD and expect 30 pips move. If it comes out at 0.9% or higher, that would be very positive for the AUD so you can buy AUD/USD and expect 30 pips move or more. Last month the number really overreacted and we saw 77 pips move on -0.4 deviation but in earlier releases sometimes you got a little more than 20 pips so be careful despite of December release. I think 30 pips is a good expectation - if you get more, great.

Happy tradindg and have a great day.

Taking the Day Off

2008-01-07T14:05:00.000-08:00

Hello fellow traders, how has the day been for you, I hope you are having a good day. I am sorry i did not post anything today, its simply because there is nothing worthy of trading today, if you take a look at the market, you will understand what i am trying to say, hopefully, there will be a couple of good trades on Tuesday. So dont worry about it, I am still here and I dont intend going anywhere. You just sit back and relax.
Thanks for reading what I have to post. It could really be purposeless posting stuffs that no one is reading. I appreciate my readers. You guys have a great day.

News to watch out For Today.

2008-01-03T23:05:00.002-08:00

Hello, how's the day going, I hope you were able to catch some pips yesterday. If you did, then congratulations.Let's talk about Friday, then.

Actually I suggest, if you are not gonna be trading these set of news that you watch placing trades carefully, news is no respecter of persons. Be careful, I wish you good luck today.

1. Friday, January 4th, 2008 (1:45 a.m. New York Time) SWITZERLAND
First, at 1:45 a.m. we will have Swiss CPI coming out. I recommend you to trade y/y number with 0.2 triggers. If the Swiss CPI comes out at 2.00% or higher, then it would be strengthening the Swiss Frank, and I would short either USD/CHF for 30 pips price action, or GBP/CHF for 40 to 50 pips price action. If it comes out at 1.6% or lower, that would be weakening the Swiss Frank, and I would go long on USD/CHF or GBP/CHF, looking for 30 and 40 to 50 pips, respectively. You can make more pips on GBP/CHF but sometimes the spread is too big to take a risk. Choose a pair wisely based on your broker.

2. Friday, January 4th, 2008 (4:30 a.m. New York Time) UK
At 4:30 a.m. New York time we will have UK Services PMI. It is expected to come out at 51.5. I would trade it with 1.0 trigger so if it comes out at 50.5 or lower, I would short GBP/USD, looking for 30 pips price action. On the other hand, if it comes out at 52.5 or higher, then it would be strengthening the pound, and we should see 30 pips or more move up.

3. Friday, January 4th, 2008 (5:00 a.m. New York Time) EURO ZONE
At 5:00 a.m. New York time we will have the ECB Estimate CPI y/y. It is expected to come out at 3.1%. If it comes out at 3.3% or higher, that would be strengthening the Euro so you can go long EUR/USD, looking for 25-30 pips price action, or more. On the other hand, if it comes out at 2.9% or lower, that would be weakening the Euro, and I would go short on EUR/USD.

4a. Friday, January 4th, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. we will have U.S. Non-Farm Payroll and Unemployment Change. It is expected to come out at 70K. This indicator can give a great opportunity but is very risky as well. I would trade this with 50 trigger so 120K or higher would be a strengthening the U.S. dollar and you can go long on USD/JPY or short on GBP/USD - it would depend on the technicals right before the report. GBP/USD should be OK, and I would look for 50 pips price action. If it comes out 20K or lower, that would be weakening the U.S. dollar, and you can go short on USD/JPY or long on GBP/USD. What makes this report risky is the revision to the prior month. If the revision's deviation is greater than the actual deviation and goes the other direction, it can move the price the other way. For example: if the Non-Farm Payroll comes out at 170K it would be a big potential buy signal on USD/JPY, but if at the same time the prior month was revised down by 120K, then you actually are getting a net negative surprise because you are up 100K this month and down 120K last month, and this could actually be dollar weakening. Be careful with this indicator, then.

4b. Friday, January 4th, 2008 (8:30 a.m. New York Time) USA
At 8:30 a.m. there is also the Unemployment Change number. Usually it is not a big deal but if it deviates by 0.1 and especially by 0.2, it can take over the move, especially if the deviation on Non-Farm Payroll is small or none. If it comes out at 5.0%, it would be bad for the dollar and you may want to sell USD/JPY, and if it comes out at 4.6% or lower, you may want to buy USD/JPY.

5a. Friday, January 4th, 2008 (10:00 a.m. New York Time) USA
At 10:00 a.m. we will have the U.S. ISM Non-Manufacturing. It is not that great indicator, and you would be lucky to grab 20 to 25 pips of it. I would say USD/JPY is the best one to trade it; however, if the USD/JPY looks weird, you can shift to EUR/USD or GBP/USD. I would use 2.5 trigger so if it comes out at 51 or lower, that would be bad for the U.S. dollar, and you may want to sell USD/JPY, looking for 20-25 pips. If it comes out at 56.0 or higher, it would be good for the dollar, and you may want to buy USD/JPY, looking for 20-25 pips price action.

5b. Friday, January 4th, 2008 (10:00 a.m. New York Time) CANADA
Canadian Ivey PMI comes out at the same time but is usually late by 5 seconds - that's what I noticed from my own experience. It is expected to come out at 51.0 would trade 3.5 trigger on this one. If you get a signal on both report, USD/CAD may move very well. If it comes out at 54.5 or higher, that would be strengthening for the Canadian dollar, and I would sell the USD/CAD or EUR/CAD, looking for 20 pips and 30 pips, respectively. If it comes out at 47.5 or lower, it would be wakening the Canadian dollar, and you may want to buy USD/CAD or EUR/CAD, and look for 20 and 30 pips, respectively.

That would be all for this week.

POSSIBLE TRADE OPPORTUNITES

2008-01-02T18:20:00.001-08:00

Good morning, Let's review what happened yesterday.

The first indicator we had was UK Manufacturing PMI. Since there was some deviation, the price moved about 30 pips but it did not hit our trigger so it was a no trade.

Then we had U.S. ISM Manufacturing which hit a big downside trigger. It came out at 47.7 so it was the lowest reading since sometime in 2003, and it was a big buy signal. EUR/USD traded in the range of 1.4665 to 75 for quite a bit so there was plenty time to get in quite relatively close to the pre-release price. Then, it went up to 1.4750 within 90 minutes so it moved almost 90 pips from that level without much retracement at all. It was awesome trading opportunity, and I hope you made money on this. Due to a huge deviation, even USD/JPY worked very well moving 158 pips although I did not recommend you to trade that pair. GBP/USD did not react too well as pound was much weaker than euro before the report.

Then we had U.S. FOMC Minutes. We got what we were expecting: it was dovish but there were some mixed comments there. I thought it would weaken the dollar but it did not really end up that way. It was just not clear enough to generate decent price actions.

Tomorrow we will have two trades I will be looking at.

1. Thursday, January 3rd, 2008 (8:15 a.m. New York Time) USA
At 8:15 a.m. New York time we will have U.S. ADP Employment Change. That is expected to come out at 47.5 K, and I see 33K expected from another source so that numbers may change as we are approaching to the report. Last month it came out at 189K, and it was a great trade. To be safe, a reading of -20K or more negative would be weakening the U.S. dollar in general. A reading of 100K or higher would be strengthening the U.S. dollar. I would trade this on USD/JPY. I would look to buy USD/JPY on reading of 100K or higher, and sell USD/JPY on a reading of -20K or more negative.

2. Thursday, January 3rd, 2008 (8:30 a.m. New York Time) USA
Then at 8:30 a.m. New York time we will have U.S. Unemployment Claims which is expected to come out at 345K. It is a weekly indicator and recently more people are focused on it. If it comes out at 360K or higher, that should be weakening for the dollar, and it would constitute a sell signal on USD/JPY, good for 15 to 40 pips. If it comes out at 330K or lower, it would be strengthening the U.S. dollar, and it would be a buy signal on USD/JPY, good for 15 to 40 pips.

That would be all for tomorrow

TODAY 2ND JANUARY FORECASTS

2008-01-02T01:42:00.001-08:00

Let's first review what happened on December 31st, 2007.

We had U.S. Existing Home Sales. It was expected to come out at 4.97M but originally when I recorded my signal, it was 5.00M so we were looking at 5.2 M to get into the trade. This trigger was not hit so that was a no trade.

Tomorrow we will have 3 indicators that are worthy watching and possibly trading.

1. Wednesday, January 2nd, 2008 (4:30 a.m. New York Time) UK
First one is UK Manufacturing PMI at 4:30 a.m. New York time. This indicator had gone a little cold towards the end of the year but last month it had a good price action. The deviation was 1.9 (if I remember correctly) and it moved GBP/USD by about 60 pips. Tomorrow it is expected to come out at 53.9. If it comes out at 55 or higher, I would like to buy GBP/USD or GBP/JPY, expecting about 35 and 50 pips or more, respectively. On the other hand, if it comes out at 52.5 or lower, I would like to sell GBP/USD or GBP/JPY, expecting 35 and 50 pips, respectively.

2. Wednesday, January 2nd, 2008 (10:00 a.m. New York Time) USA
At 10:00 a.m. we will have U.S. ISM Manufacturing. It is expected to come out at 50.5. On this indicator I would like to use 1.2 deviation so if it comes out at 51.7 or higher, I would look to sell either EUR/USD or GBP/USD. If it comes out at 49.3 or lower, I would look to buy EUR/USD or GBP/USD. I would expect 30 pips price action on EUR/USD and 40 pips price action on GBP/USD if the trigger is hit. You can also trade USD/CHF (reverse triggers) but I would stay away from USD/JPY as this one behaves kind of weird with this report. Sometimes USD/JPY moves like crazy, some other times it does not move at all on this indicator.

3. Wednesday, January 2nd, 2008 (2:00 p.m. New York Time) USA
At 2:00 p.m. we will have U.S. FOMC Meeting Minutes. On Dec 12th, they voted for a 0.25 cut on U.S. interest rates one of the voters voted for 0.50 cut. If you are interested in trading this report, please watch the video.

That would be all for today.Thank you very much, and good luck with your trades.

HAPPY NEW YEAR

2008-01-01T02:57:00.000-08:00

This is to wish all my readers a very happy new year. May your life be filled with bliss, may your days be filled with joy, may you have every reason to be thankful this year.

I also wish you a successful trading time. Please watch your trades very well before you place them, dont let your money turn to dumb money. There are going to be maximum opportunities for you to trade. Just wait and you will find them. have a lovely new year.

Have a great day too.

Monday, 31st of December

2007-12-31T03:04:00.000-08:00

Today being the last day of the year, it is significant to notice the direction the market is following because this to a large extent will determine the trends followed in the new year. The markets have traded in low volumes in all the currencies due to the festive and the holidays and funnily today, the market came back with higher volumes of trade.

Lets see what a colleague has said.

If you wish to watch the video, just click on it, and then click on "play" icon. My video version is MUCH MORE detailed so I encourage you to watch it.

You can watch it Here

Let's first review the Christmas week.

The first opportunity we had on Wednesday was a housing index indicator at 9.00 a.m. It hit my signal. It was expected to come out at -5.7 million, and it came out at -6.1 million so it was a sell signal on USD/JPY. Unfortunately, USD/JPY was quite choppy but in Diamonds room we decided to trade EUR/USD that worked OK. We made a few pips on initial move and left one quarter for 100 pips profit. USD/JPY gave an opportunity to make 10 pips so I hope you get out at least at break even or took a small loss.

Then on Thursday we had U.S. Durable Goods and Initial Claims. It did not hit our trigger so it was a no trade. Similarly, Tokyo CPI came out as expected so it was a no trade either.

On Friday we had UK Nationwide House Prices m/m at 2.00 a.m. and it did not hit our trigger but at 10.00 a.m. we had U.S. New Home Sales which did hit our trigger. It was expected it would came out at 720K, and we were looking to trade 50K deviation. It hit our sell signal on USD/JPY, and we traded 30 pips to the downside, then we had a retracement, and then it continued to go down for the rest of the day. During the first minute there was a pretty big hesitation so it was easy to get in this trade in most brokers. I hope you made some pips.

Let's now talk about Monday, last day of 2007 year.

1. Monday, December 31st, 2007 (10:00 a.m. New York Time) USA
On Monday we will have only one report that I feel is worthy watching and possibly trading although I am very skeptical about this. It is U.S. Existing Home Sales at 10 a.m. New York time. Usually we use a trigger of 0.2. I am a little bit worried because this is a New Year Eve, and a lot of speculations about how market is going to end this year so this may dominate the price action. However, it still can be tradable but I will be trading only a half of what I would normally trade. I prefer to trade on USD/JPY so if it comes out at 5.2 million or higher, it would be a buy signal on USD/JPY, good for 30 pips or more in the first hour of the report. If it comes out at 4.8 million or lower, it would be a sell signal on USD/JPY, good for 30 pips or more in the first hour of the report. As I said, because this is the last day of 2007 year, it can be a risky report to trade so if you want to skip it, I will not blame you. One more thing: if you see a definite trend right before the news release, don't trade against it - take another pair to trade. In case you want to trade pairs such as EUR/USD or GBP/USD, don't forget to switch triggers so "buy" will be "sell" and "sell" will be "buy" as my trigger is provided for USD/JPY.

That would be all for this year.

All the best for new, 2008 year!

To Our Success! - Courtesy Felix Homogratus

A proper Introduction to the Forex in my own Way

2007-12-30T04:56:00.000-08:00

Hello and I just thought I have to do things the right way. I will be posting strategies and stuffs here about forex and I just gave it a thought, What if i have someone who does not know anything at all about the forex? Then I think we have to introduce someone to the FOREX WORLD. Come along.

The forex market (Forex gotten from the words "FOReign and EXchange) is believed to be the largest market in the world today making a daily turn over of 1.9 - 2. 0 trillion dollars daily! Now i heard you clearing your throat. That is hard to believe but its true. That is about 10 times, or maybe 100 times more than what Canada or USA makes per year. Thats really awesome.

Then you ask me how is the money made? Now the forex market is a virtual market with no office no where, it involves sellers and buyers buying and selling a different sets of currencies. Its just like the normal foreign exchange. You will buy a currency when you think its going to appreciate and sell when you think its going to depreciate. So all you have to do is just sit at your computer, do analysis of events and decided whether you wanna buy the dollar or you wanna sell it. And your decision will let you know how much money you are going home with. Just like that.

Now it may sound so easy but its not easy, you have to really know your stuff before its gonna be like that. You need to do your home work! The forex market opens 24 hours, 5 days a week. And all you need is just your computer and an internet connection on it. If you have that, then you can trade the forex.

So lets summarise what you need to trade the forex:

* A computer
* Internet Connection
* A forex broker e.g Marketiva that allows you to start with as low as 5 dollars in your account.
*The technical and the fundamental know hows.

If you have these, then you are ready to start trading. Thank God there will be discussions here daily talking about the forex market live and you can always come back to learn and ask questions.

The forex market, however, is a very risky place but its worth the risk. You may lose all you put into the market if you do not do your homework very well. Thats why it is always advised not to trade with what you cannot afford to lose. It has advantages that are pretty well over the disadvantages. Lets see the advantages:

* Liquidity - Very High
* Instant execution of Orders - A certainty with most brokers. Chose well
* 24 hours market - So you may as well convert your sleeping time to money time.
* High Leverage - So you dont have to take all the risk alone. Your broker is with you in it.
* Very Low Capital start up - You dont have to rob a bank to start.

So what are you thinking about? Its a worthwhile investment and job opportunity for those of us who hate white collar jobs.

You are free to ask questions or make additions, i might have omitted something or there is something you dont understand, feel free to say it, you are always welcome.

You can subscribe to this feed by RSS and get it on your desktop. Navigate to the right hand side below to do that.

Have a great day.

Simple Stochastics Turnover Strategy

2007-12-30T03:37:00.000-08:00

This is a strategy i bumped upon, it has made me a couple of pips when i tried it. I guess this is a good strategy for new traders who are just curious. This is not a guaranteed system since nothing is black and white in the forex. It is going to be subject to your own modifications. You are free to make additions as well. Happy reading.

Entry rules: When Stochastic has crossed below 20, reached 10, and then crossed back up through 20 – set BUY order.
Entry rules: Sell when Stochastic has crossed above 80, reached 90, and then crossed back down through 80.

Exit rules: close trade when Stochastic lines reaches the opposite side (80 for Buy order, 20 for Sell order).

Blogger: Forex Trading Resources - Edit Post "Simple Stochastics Turnover Strategy"

The stochastic oscillator gives a quite good entry and exit points if well studied but one thing is that it should not be used alone as an indicator. Using it alone may put you in some jeopardy of fake outs. I suggest you use stochastics together with RSI (Period 14). When both tells you the same thing, then you may wanna act. I hope you find this a little bit helpful.

Have a nice day.

Accept Credit Cards Online

2007-12-29T13:50:00.000-08:00

Have you been thinking of taking your services to the next level by accepting credit cards and you are tired of collecting cash on counter? Then this might probably be what you are waiting to read.

Accepting credit cards could help save you a lot of trouble and it could help keep most of your customers coming back to your store. People are tired of having to carry cash around when they can easily hold a plastic card that settles the bills. Accepting credit cards saves you the problem of collecting too much cash and it saves your customer the stress of having to wait for the change.

Apart from deciding to start accepting credit cards, finding the right credit card processing company may be a big pain in the brain. It is not going to be easy moving from one company to another until you find the one that suits you well enough.

Really, to be frank, every business person wants the easiest and most effective way to do things and would readily want to accept the advantages of accepting credit cards but to the "just starting out" ones, the cost may be killing particularly if your business type is classified as "high risk". So what do you do?

I will like to introduce you to Ms Merchant Accounts. They have a list of the best of credit card processing companies. When you apply, they find the best company that is tailored to meet your needs whether you are running a high risk or low risk business. Whichever category you are, you are guaranteed to have the best rates available.

Ms Merchant Accounts offers services that covers the following areas of business:

* Retail Processing
* Internet Merchants
* International Merchants
* Travel Agencies
* Lodging Agencies

So whether you are a small retailer or you are an international merchant, you will find just the best of services when you apply for an account at Ms Merchant accounts.

Visit Ms Merchant Accounts today and find out for yourself. I bet you will not regret this. Have a great day.

Discount Click

2007-12-28T10:42:00.000-08:00

You probably would have grabbed the bulk of the message by saying the name of the company. Discount click is an online marketing company that helps drive traffic to your site - simply put. They offer search engine marketing and promotion services and what they actually do to drive traffic to you site is to list your website on the hottest search engines around. For those of us who knows what it is to have a site with stuffs you want people to see, then you will understand the great work being done by marketing companies. Your site will be there endlessly till eternity without anyone visiting it, even though you have the best of things that anyone might need, for as long as your site is not well marketed.

Discount click specializes in marketing and driving traffic to your site all at a very cheap cost of $50 ridiculous dollars per month, thats just about $1.67 dollars per day, that is much less than what most of us spend on candies daily.

Then you will ask me "what makes Discount click different from all other marketing websites?". For God's sake, some sites even give you free services! But the fact that we will not hide from is that these free sites dont promote you the way you want it but its like you are choiceless, thats why you have to settle for less. Discount click takes your site from the lower levels of no traffic to a high level where your site is displayed regularly on big search engines such as Google,Yahoo,Altavista,Ask Jeeves, America Online, Netscape and MSN. So what else could you ask for?

Discount click offers you a wide range of choices, whether you want it little by little or you wanna get there sharply, whatever you want though, results are guaranteed within 2-4 weeks! Thats fair enough, thats what i heard you say. Now the choice is yours, woulnt you rather do business with Discount click?, I bet you should. Go ahead and register for free. Have a great day.

Trend following in FX markets - problems and pitfall

2007-12-27T15:51:00.000-08:00

Topics that will be covered for following discussions are:

What is the trend?
How the psychology of trend description predisposes traders to loss
Inapproporiate emotional anchoring within trends
The confusion between time frames and how this disrupts appropriate signal generation
The failure of traders to understand which trend is in play
Avoiding countertrend confusion
Stepping back and looking at the big picture

Speech Material:

What is the trend?

If there were ever a compelling question that needed to be answered for traders it would be what is the trend. Initially this would seem to be a simple question to answer – you simply look at the chart and say the trend is up or down or whatever your bag of tricks is telling you. However when I ask traders this question the answer I get is actually wrong. It is wrong on two grounds the first is philosophical and the other is mechanical.

The philosophical incorrectness comes from not understanding that the trend you are looking at is in the past. Whilst it might seem somewhat semantic to insist that traders say that the trend up until this point in time has been up, as opposed to the trend is up. It is nonetheless an important psychological and emotional distinction. Since saying that the trend is up implies a degree of moral and certainty that we as traders cannot afford and it also conveys a sense of future predicability.

Granted trends once they are established tend to continue – the emotional dynamics of markets allows this to happen and in turn allows trend following to be a strong trading technique. However by allowing a sense of certainty to enter into your cognitive decision making you are also allowing this certainty to leak into your subconscious. Without realising it you now have an emotional as well as financial investment in the trend continuing in the direction you feel it should. You have dropped your emotional anchor right into the middle of uncertainty without being fully aware of the consequences.

The consequences of such action revolve around the tension that then arises between your degree of certainty and the uncertainty of the market. I feel it is this emotional anchoring that makes it difficult for traders to either stop positions out or to take the next step and stop and reverse a trade if necessary. By simply altering the language you use to describe the market you can change your reflexive approach. Stating that the market up until this point in time has been up automatically loads a caveat that the trend might change – the trend might change five minutes after you have put a trade on or it may continue for months. This aspect is unknown to us but we have prepared ourselves for change and can act accordingly without the distress that comes from having to confront our previous certainty.

The second error is mechanical or technical and arises simply because of a misunderstanding of how the trends work. FX trading seems to be attractive to traders because of the enormous leverage that it affords along with the ability to trade very narrow times frames. For traders seeking entertainment value the FX market is the ultimate tool with its high liquidity and its almost 24/7 access.

It has been my observation that the ability to trade very narrow times frames creates a systematic error that plagues FX traders until they eventually quit the market.

Consider the attached chart of the USD/CAD five minute chart starting at 0600 on 14/03 and proceeding to 17.00 on 14/03. Along the bottom of the chart I have loaded a MACD histogram using the default values of 12/26/9 to act as a trigger.

Traditionally when looking at such a data array traders would look to the MACD and take each signal as it presented itself – this decision making process is often done in isolation of the overall tone of the market. This leads to excessive whipsawing since the movements taken might actually be countertrend trades that lack any form of energy.

Consider the five minute chart in relationship to the one hour chart shown below.

During the same time period price action showed two distinct moves a swing up followed by a swing down. Now view the early MADC signals on the five minute chart in light of this information – the dead crosses in the signal lines are actually false signals since they run counter to the prevailing longer term trend in existence.

Whilst it seems somewhat obvious to state that trades should only be taken in the direction of the prevailing trend it is often hard for traders to define what exactly is the prevailing trend. As we have seen many traders particularly in the embryonic stage of their career believe that there is only one trend and that is the one they are looking at. To some degree traders who opt for such a myopic approach console themselves with the notion that activity equals profitability.

However lets takes a step back from narrow time frames and start to build a bigger picture of what constitutes a set up for a power move. Too often traders look only to take a few ticks within a move – so long as they feel active and entertained they feel as if they should be profitable. Note the qualifier – what should be and what is are often distinctly different things.

Imagine we are trading one hour charts and we see the signal given on 02/03 at 03.00 which we take. However almost immediately we are taken out of the trade by a counter trend signal.

If we refer to the four hourly chart below we can see that the same signal is picked up on 03/03 and that the exit or counter trend signal given on the one hourly chart doesn’t exist in light of the prevailing longer term trend.

I feel that the lesson here is for traders to establish a base time frame for signal generation but also to have a reference time frame for trend validity. For example if the four hour chart is trending up and you trade one hourly charts then only buy signals within the one hourly chart can be taken. Such a philosophy will keep you in the trend for a lot longer than simply referencing a single time frame – it will also make certain your are oriented in the direction of the true trend and not a counter trend movement.

A similar approach can be used when trading EOD signals.

Consider the chart below of the USD Index, one of the rare things in FX trading is the use of very long-term charts to define what the emotional orientation of the market is. In the period under consideration the USD was in a major downtrend against virtually all major currencies. The question is what does this mean for traders who opt for shorter time frames – the answer is simple only short trades could have been taken against the USD. To go long against such a powerful trend would simply invite disaster.

As a final point in closing I would like to revisit the notion of activity versus profitability and ask you to consider something different in the way you view FX market.

Consider the chart of the AUD/USD below

(chart 6 AUD/USD weekly chart)Click to enlarge:

This is a weekly chart on which I have plotted a simple 10/20 week price oscillator and a 15 week price channel to act as a trailing stop.
The blue vertical lines denote buy signals whereas the red vertical lines are exit signals. This system is only offered as an example.

In an 18 month period this system trades only twice and yields the following results.

Trade one : enter @ 0.5579 exit @ 0.6412

A gain of 833 pips

Trade two: enter @ 0.6787 exit @ 0.7399

A gain of 612 pips

The total gain for the two trades is 1445 pips.

Whilst it is not my intention to try and convert traders away from their existing methodology I have a few summary points that I would like you to consider.

All trading can be more efficient in terms of the dollars gained for a given risk. My feeling is that the easiest way to achieve this is to be in line with the prevailing trend and the prevailing trend may not be what you think it is.
Activity does not equal profitability – it may be entertaining and may impress your friends when you tell them that you are trying to day trade currencies but you need to question whether it is actually as profitable as you think it is and whether you can afford it emotionally.
If you do what everyone else is doing then you will get the same results as everyone else. If you do something different to everyone else then you may just get a different result.

Forex Trading Systems

2007-12-27T15:46:00.000-08:00

* Mechanical vs. Discretionary Systems

There are basically two types of Forex trading systems, mechanical and discretionary systems. The trading signals that come out of mechanical systems are mainly based off technical analysis applied in a systematic way. On the other hand, discretionary systems use experience, intuition or judgment on entries and exits. But which one produces better results? Or more importantly, which one fits better your trading style? These are the answers we will try to answer on this article.

We will first analyze the pros and cons about each system approach.

* Mechanical systems

Advantages

This kind of system can be automated and backtested efficiently.

It has very rigid rules. Either, there is a trade or there isn’t.

Mechanical traders are less susceptible to emotions than discretionary traders.

Disadvantages

Most traders backtest Forex trading systems incorrectly. In order to produce accurate results you need tick data.

The Forex market is always changing. The Forex market (and all markets) has a random component. The market conditions may look similar, but they are never the same.

A system that worked successfully the past year doesn’t necessary mean it will work this year.

Discretionary systems

Advantages

Discretionary systems are easily adaptable to new market conditions.

Trading decisions are based on experience. Traders learn to see which trading signals have higher probability of success.

Disadvantages

They cannot be backtested or automated, since there is always a thought decision to be made.

It takes time to develop the experience required to trade successfully and track trades in a discretionary way. At early stages this can be dangerous.

Conclusion

Now, which approach is better for Forex traders? The one that fits better your personality. For instance, if you are a trader that finds it hard to follow your trading signals, then you are better off using a mechanical system, where your judgment won’t play an important role in your system. You only take the trades that your system signals.

If the psychological barriers that affect every trader (fear, greed, anger, etc.) puts you in unwanted scenarios, you are also better off trading mechanical systems, because you only need to follow what your system is telling you, go short, go long, close a trade. No other decision has to be made.

On the other hand, if you are a disciplined trader, then you are better off using a discretionary system, because discretionary systems adapt to the market conditions and you are able to change your trading conditions as the market changes. For instance, you have a target of 60 pips on a long trade. But the market suddenly starts trending up pretty strongly, then you could move your target to say 100 pips.

Does it mean that trading a discretionary system has no rules? This is absolutely incorrect. Trading discretionary systems means that once a trader finds his/her setup, the trader then decides what to do. But every trader still needs certain rules that need to be followed, such as the size of the position, conditions that have to be met before thinking to get in the market, and so on.

I am a discretionary trader. The main reason I chose a discretionary system is that my trades are based on price behavior, and as you already know, the price behaves similar to the past, but it is never identical, therefore the outcome of every trade is unknown. However, I do have rigid rules on my system, certain conditions have to be met before I even think in getting in a trade. This keeps me out of trouble, once my setup is present and in accordance with the rules I have set, then I closely watch the price behavior and finally decide whether it is a good opportunity or not.

Whether you choose to be a discretionary or a mechanical trader there are some important points you should take in consideration:

You need to make sure the Forex trading system you are using totally fits your personality. Otherwise you will find yourself outguessing your system.
You also need to have some rules and most importantly have the discipline to follow them.
Take your time to build the perfect system for you. It’s not easy and requires time and hard work, but at the end, if done correctly, it will give you consistent profitable results.
Before going live, try it on a demo account or even on a small account (I will go for the second option, since psychological barriers will be present.)

Courtesy Raul Lopez -Straightforex.com

To the Forex Newbies

2007-12-27T09:39:00.000-08:00

The forex market is gradually becoming a household market, nearly if not all the families in the world will have someone that is forex literate these days. It is the largest market presently in the world today making over 1.9 trillion dollars. That is large and this money we are talking about is shared between forex traders both the losses and the gains and the fact is, as some people are losing, some are simultaneously gaining it.

Well, the forex market is large and it does make money. So the question on your mind is, 'How do i make money here too? Well, people say it is easy and some will tell you the frank truth like i will tell you too, it is easy with a large risk. You know nothing good really comes easy, before the George Soros of the stock world became who they are today, they must have lost a lot and must have done enough home work. The only thing is that no one is here to brag about the losses. We can keep shouting about the gains till we drop.

Well, dont be scared though. The forex trading business is easy to go about but you must put your mind in one fact that it is risky. You know its been like a year now i started this business and i have learnt a couple of things.

1. Never trade forex with money you cannot afford to lose.
2. Never trade forex if you consider yourself too emotional.
3. Never trade forex if you are not the persistent type.

If you feel you are qualified to trade or you feel like, let me just give it a shot, then thats why we are here to help in the little way we can

Welcome to my world. I hope the resources you find here are helpful.