Wednesday, November 25, 2009

!! NEW !! Forex Training Students







!! NEW !! Forex Training Students Now Get our FX Total View Trader's Cockpit for Joining!


 

 
 
 
 
 
 
 
 
 
 
 
This amazing tool gives you what we feel is a TOTAL VIEW of the entire currency market in under a 30 second glance.

  • Currencies Above/Below Yesterday's High or Low
  • Currencies Above/Below Last Week's High or Low
  • Currencies Above/Below Last Month's High or Low
  • Currencies Above/Below HOURLY chart's moving avg
  • Daily Trend - Which currencies are above 10, 20, 50, and 200 Day Moving Avg or Below them!
  • Total Strength Statistical Trend Tool for scalpers, intermediate term traders, and now long term traders
  • Currencies that meet NR4 and NR7 patterns which tend to lead to big trend days today
  • Counter Trend Traders Dream Come True - Which currencies have been up/down 3, 4, 5+ days in a row as they tend to reverse
Discover Trading Secrets from Forex Traders that Use Them

Let us Prove Our Forex Trading Systems BEFORE You Invest a Penny -- FREE Video Training Course!
Daily Mentoring and Training by our Professional Forex Traders, not trainers.


We are ALWAYS improving our software and that same commitment to excellence is applied to our training. Here;s what's New!


1) Daily Trading Zones - These high probability buy/sell areas are human derived each and every day by looking at multiple time frame charts and using longer term Fibonacci Retracements, Fibonacci Profit Targets, Daily, Weekly, and Monthly Pivot Points, Daily Moving Averages (20, 50 and 200) and also each currencies Average True Range statistics.

We look for STRONG areas of support and resistance at or near each currencies average range. This takes us about an hour to do each night to prepare for the next day's trading. All YOU need to do is add a special indicator to the charts that we give our mentor students, the password will be provided upon joining!





Also Included Trading Zone Audio Alerts - Too busy to watch the Forex markets 24 hours a day? So are we! So we put in Audio, Email AND even Cell Phone Alerts. When the market hits our high probability buy/sell areas you will know and can then take a look to see if its a trade you wish to take.


The chart to the right is an example of what our Trading zones look like. These are actual levels we called out the day before for the GBP/USD. We believe this can help traders spot and locate areas where trends may not continue. We believe these levels make good areas to also do counter trend trades. Many of our traders tell us this is their favorite part of our mentoring!




2) Currency Overview Email - Every mentor student will be provided with our Daily Currency Trading Plan. In this nightly email we setup both what happened today and what we expect is most likely to happen tomorrow. You can see an example from our May 15, 2008 commentary to the right. We let you know IF price is Above a certain level BUY and if below a
level look for shorts. We also provide areas we feel will stall or possibly reverse the current
trend.
Our traders find this incredibly helpful as this gives them a ROADMAP in which to trade!


3) Intraday Currency Update! - We also email out every weekday morning what is going on in the currencies and price levels we are looking to buy or sell them and why! As you will see in the real example on the right, we also let you know what price has to be broken for the current trend to end. In the GBP/USD example on the right its clear you should look for shorts as long as price was below 1.9465. If that level gets broken then look for buys.


This information we've found is invaluable for NEW TRADERS who have no clue how the markets work but through reading our commentary and coming to our classes and watching our training videos over time will learn how to do this analysis for themselves. Our experienced traders also love our commentary as it gives them more confidence in their trades when our opinion matches their own!

Keep in mind most Commentary or Signal Services charge $100 to $500 per month for this information that we give all of our Mentor Students at NO ADDITIONAL CHARGE.

Forex Video Training Course






Forex Video Training Course

Previous 2 Months of Live Classes Archived Here  (Mentor Students Only)



Risk Disclaimer: Trading spot currencies involves substantial risk and there is always the potential for loss. Your trading results may vary. Because the risk factor is high in the foreign exchange market trading, only genuine "risk" funds should be used in such trading. If you do not have the extra capital that you can afford to lose, you should not trade in the foreign exchange market. No "safe" trading system has ever been devised, and no one can guarantee profits or freedom from loss.


Beginning Forex Training Lessons for FOREX Traders (FREE)

 
               VIDEO                  DESCRIPTION


NEW: Audio / Email / Cell Phone Alerts!! This video will show you how to setup TopGun Software's audio alerts, configure them, move or remove them and also send them to your email and/or phone! We highly suggest traders set levels they wish to buy/sell using Fibonacci analysis and weekly/monthly pivot points and then wait for the levels to get hit. (Time: 4:55)


NEW: Containment Bands: This amazing new indicator shows you average and MAX volatility at different times of the day and on different time frame charts. The extreme red bands are usually the end to trends and make a great exit for trend trades and high probability counter trend area!    


NEW: FX Multimap: This lesson will show you how to turn around your Forex trading using our new revolutionary tool! This is a new indicator which shows you how strong or weak the market is and the probability of it going up or down AND how much more the trend is likel (Time: 4:33)


Position Sizer: We believe that this critical lesson will show you a secret to Forex Trading, i.e. how many lots do you trade and still maintain low risk per trade. Many new traders can easily have 2, 3 or even 5 losing trades in a row and this tool will help you increase (Time: 6:00)


Andrews Pitchfork: This lesson will show you how to use the brilliant Andrews Pitchfork to find low risk, high probability trend and counter trend trades! We discuss how to apply this drawing tool to your chart and the differences between the Standard Pitchfork  (Time: 5:56)


Lesson 1: Setting Up Charts: We recommend new traders load our Mult TimeFrame.aws or 4star candles 1280x1024.aws workspaces . It has all of our best tools, studies, and trading systems already setup for you. All you need to do is resize and move the charts to fit in your screen (all traders have different number of monitors and resolution).


This setup video will show you how to use our software from setting up your own charts, moving, resizing, using layers, adding/adjusting/removing studies, using quote sheets and our FX Currency Scanner and auto linking quote sheets to charts so you can always buy the strongest pairs and see the weakest to short! (Time: 25:46)

NEW TRADERS WATCH FIRST - Will Save You Time Getting Going!!




Lesson 2: Trade Analyzer: LeverageFX is happy to release a tool that will help you analyze your trades. Find out how you are doing and quickly spot weaknesses in your trading! You can NOT fix a problem until you identify exactly what you are doing wrong. This tool also lets you visually see all your win/loss statistics and plots your equity curve. (Time: 8:22)


Lesson 3: Trade Planner: Our tools were designed to help you develop your own trading style to reach your trading goals. This amazing new tool lets you enter how much money is in your account and lets you see how many pips per day you need or how many lots to trade to reach your financial goals. This program lets you set financial goals and lets you know exactly what you need to accomplish each day to reach them.

We at LeverageFX have noticed an incredible improvement in our traders performance once they set goals. Having trading goals helps keep traders disciplined to have the patience to wait for the very best, low risk, high probability trades and it helps them stay focused on keeping their losses low. For instance if your goal is 10 pips per day and you are up 8 pips after your first trade, you are going to be careful not to lose that profit and you only need 2 more pips to hit today's goal. On good days many traders make 10 to 50 pips and this helps them offset losing days, keeping them on TARGET to reach and exceed their goals. **


Our advice, Set a goal, Write it down, and Stay Disciplined and focus on achieving it! This keeps you on track and gives you confidence. (Time: 5:37)



Lesson 4: Trend Color: THE TREND IS YOUR FRIEND! This lesson discusses how to use a wonderful enhancement of some of the most famous indicators traders use (Stochastics, ADX Trend, MACD, and Forex Cumulative Tick). To save space on your charts you can have a tiny window that shows whether these indicators are pointing up or down  (Time: 2:58)


Lesson 5: Visual Backtesting: This amazing lesson shows you how you can visually test and enhance any of our indicators. For example, suppose you wish to find the best settings for the Bollinger Bands or Keltner Channels. With this major improvement you  (Time: 6:55)/font>


Lesson 6: Using the Balance Point Line: This lesson discusses how to use the balance point line, the price where most traders have positions. It is the most powerful and accurate support & resistance levels. Human behavior is often very predictable. (Time: 10:34)


Lesson 7a: Using Bank Buying and Selling to Predict Market Direction: This lesson discusses how to use our unique Buy/Sell Pressure (Shows bank buying and selling) and Forex Cumulative Tick (Cumulative Bank Buying and Selling) tools to find low risk buying and selling areas. These
                                              tools also show you when to trade with the trend and when trend is slowing. (Time: 21:40)


* FREE eSignal Data is available to LeverageFX customers at FXDD and FXCM with the following restrictions. You must trade $1 million of currency in and out per month. This is equivalent to 10 regular lots ($100k) or 100 mini ($10k) trades. If you do not do the minimum you will be charged for the eSignal which is currently $100 for that month. eSignal also has a 30 Day Money Back Guarantee and we recommend new traders who wish to test TopGun before trading live, getting their own eSignal data feed initially to get familiar with TopGun and our trading methods before real money is risked! We will happily update you in our database when you switch to live trading.

Forex Latest Videos






EUR-JPY-GBP-AUD-CHF-CAD-Interest Rates              RTT NEWS    The LFB Analysis


Financial: Poland Retail Sales Growth Eases In October 6 mins

(RTTNews) - Poland's retail sales at current prices climbed 2.1% year-on-year in October, slower than a 2.5% rise in the previous month, the Central Statistical Office said Wednes...





Latest News » (View All RTT News)
Latest Video » (View All Videos)



 TheLFB Nov 25 09 European Pre-Market Preview
11/24/09 10:07 PM - TheLFB-Forex.com Global Forex Trader Portal 5400 Pips And Still Rising. New Options Service

Daily Forex News




Dollar Falls Against Yen as U.S. Reports Show Slower Growth

Nov. 24 (Bloomberg) -- The dollar weakened to the lowest level versus the yen in a month after reports showed the U.S. economy expanded at a slower pace in the third quarter than initially estimated and home prices dropped from a year earlier.


Japan’s currency gained against all 16 major counterparts and is set to post its first monthly increase versus the greenback since September. The Federal Reserve is scheduled to release at 2 p.m. today the minutes from the Nov. 4 policy meeting where it lowered the amount of agency debt it plans to purchase by March.

“Any negative data could cause people to shirk the risk- seeking trades,” said Brian Kim, a currency strategist at UBS AG in Stamford, Connecticut. “The minutes are going to be one of the larger focuses.”

The dollar fell 0.5 percent to 88.57 yen at 12 p.m. in New York from 88.97 yesterday, after touching 88.36, the lowest level since Oct. 9. The euro declined 0.2 percent to $1.4938 and slumped 0.6 percent to 132.32 yen.




The euro swung to a loss versus the dollar after a U.S. consumer confidence report showed an unexpected increase in November. The New York-based Conference Board’s index advanced to 49.5 from 48.7 in October and beat economist predictions for a decline to 47.3.

The pound fell against the euro on speculation the U.K. central bank will extend its asset purchase program after Bank of England Governor Mervyn King said the U.K. economy faces “profound challenges.” Sterling fell as much as 0.5 percent to 90.57 pence per euro from 90.10 pence yesterday.


Mexican Peso

Japan’s yen gained against higher-yielding counterparts including the Mexican peso and South African rand as share prices globally slumped. The Standard & Poor’s 500 index fell 0.3 percent and the MSCI World Index of shares slid 0.6 percent. Benchmark rates of 4.5 percent in Mexico and 7 percent in South Africa exceed Japan’s 0.1 percent overnight lending rate.

The yen was the only major currency to rise against Mexico’s peso today after Pacific Investment Management Co. said the Latin American currency is one of the cheapest in emerging markets and may rise as much as 20 percent over the next year. Fitch Ratings cut Mexico’s foreign debt rating yesterday by one level to BBB.

The peso advanced 0.5 percent to 7.4749 per Brazilian real and 1.2 percent to 9.3802 versus the New Zealand dollar. It declined 0.3 percent to 6.846 yen.




“The peso is one of the cheapest currencies in emerging markets,” said Guillermo Osses, who helps oversee about $50 billion in emerging-market assets at Pimco, manager of the world’s biggest bond fund. “External accounts will improve.”

Osses predicts the peso will advance between 10 percent to 20 percent in one to two years as the U.S. economy recovers. He also said Pimco may add to its holdings of Mexican assets.


U.S. Growth

The U.S. government’s revised figures for third-quarter gross domestic product showed the world’s largest economy expanded at a 2.8 percent annual rate, slower than the Commerce Department’s 3.5 percent estimate last month.

“In the current environment a weak U.S. gross domestic product number weighs on sentiment,” said Antje Praefcke, a currency analyst at Commerzbank AG in Frankfurt. “Traders are a little more sensitive to sentiment changes because they want to get out of positions ahead of the long U.S. weekend.”

The Fed said on Nov. 4 that it plans to reduce its purchases of agency debt to $175 billion from the previous $200 billion. Fed Bank of St. Louis President James Bullard said on Nov. 22 that the central bank should maintain the purchase program to give policy makers “the option to react” to future events beyond March.

“It’s going to be interesting to see if there are more ‘Bullardish’ comments” in the Fed’s minutes, said Kim of UBS.


Fed on Hold

The U.S. central bank will probably have to keep rates close to zero until 2011, encouraging investors to send funds abroad to earn higher returns, according to JPMorgan Chase & Co. The dollar will weaken to $1.62 per euro in the second quarter next year, currency strategists led by John Normand in London wrote in the investment bank’s Global FX Outlook 2010.

“Fed policy is a key driver because it determines the dollar’s attractiveness as a funding currency,” Normand said in an interview. Normand said in an interview. “The dollar’s decline is more than a carry trade. Global investors’ preference for non-U.S. equities, rising merger and acquisition outflows from the U.S. and central-bank reserve diversification are compounding the dollar’s decline.”




In carry trades, investors borrow in one currency to invest in others that offer higher yields. Increasing price swings in foreign-exchange markets increase the risk of losses on such strategies by boosting the odds that the funding currency strengthens and makes it more expensive to repay the loan.

The S&P/Case-Shiller home-price index increased 0.27 percent from the prior month, after a 1.13 percent rise in August, the group said. The gauge fell 9.36 percent from September 2008, more than forecast, yet the smallest year-over- year decline since the end of 2007.

Today's Forex News Headlines



Today's traders must keep informed of world events which impact the Foreign Currency Market moment by moment. We have compiled the following continuously-updating worldwide list of Forex Headline News.


A very convenient way to jump directly to this page on a regular basis is from our Gift Screensaver (left menu). With inspiring quotes illustrated by beautiful nature photos, this quality screensaver provides a one-keystroke method for traders to stay up-to-the-minute with all Forex News (Hitting the F1 Key brings you instantly back to this news page, anytime the screensaver is on your screen -- which is not when you are in a trade hopefully).


Forex markets news

OppenheimerFunds....
Sponsored Link Wed Nov 25 11:18:00 UTC+0400 2009

RPT-PRECIOUS-Gold hits record on dollar, India buying talk...
Reuters Wed Nov 25 11:18:00 UTC+0400 2009

Dollar Tree reports improved earnings...
AXcess News Wed Nov 25 11:16:00 UTC+0400 2009


Dollar buoyed by RBA comments...
The Age Wed Nov 25 11:11:00 UTC+0400 2009
 
British Pound Takes Center Stage Ahead of Revised Q3 GDP Results...
Daily FX Wed Nov 25 11:10:00 UTC+0400 2009
 
Gold Hits Another Record; Dollar Slips...
Forbes.com Wed Nov 25 11:09:00 UTC+0400 2009
 
JGB futures hit 7-week high, eyes on equities, yen...
Sharenet Wed Nov 25 11:03:00 UTC+0400 2009

Tuesday, November 24, 2009

Forex Chart - Currencies Performance Comparison

Currencies Performance Charts

Forex Chart - Currencies Performance Comparison


Before choosing which currency pair to trade, it's important to know which one is strong and which is weak, i.e. which currency performs best. The following currencies performance comparison charts shows you currencies performance in 1 year, 3 months and intraday time frame. Just click on the link and you'll get the currencies comparison chart below. For performance comparsion purpose, USD/JPY, USD/CHF, USD/CAD are inverted to JPY/USD, CHF/USD, CAD/USD in the currencies performance comparison chart.


Dollar Majors    1 Year   3 Months   1 Day
Dollar Minors    1 Year   3 Months   1 Day
Euro Crosses   1 Year   3 Months
JPY Crosses     1 Year   3 Months


Monday, November 23, 2009

Forex Trading, Currency Forecast, FX Trading Signal, Forex ...







Action Insight                                                                                                         

Mid-Day Report: Dollar Pressured, Yen Follows on Risk Appetite
Nov 23 14:32 GMT, by ActionForex.com

Dollar is still under much pressure as Gold surges to as high as 1167.8 today and remains firm. Yen also follows dollar lower as European equities are lifted by solid PMI figures. Further pressure is seen in both dollar and yen as US stocks open sharply higher. Commodity currencies reverse last week's losses and rebound on improvement in risk appetite while Sterling is also lifted by strength in U...

              All Market Overview Reports >>   




Special Reports

Nov 19 08:56 GMT, by ActionForex.com


An uneventful meeting expected! The BOJ should continue to keep its policy rate at 0.1% and stated ‘the Bank will maintain the extremely accommodative...
 
Chasm Found between BOE Members Regarding QE Extension
Nov 18 11:19 GMT, by ActionForex.com
 
The BOE minutes for November's meeting indicated that although the MPC members voted unanimously to keep the policy rate at 0.5%, there were 3 differe...
 
All Special Reports >>


Fundamental Analysis                                                                                      
                            Daily and Weekly Fundamental Reports

The BOJ: The Japanese Economy Is 'Picking Up'
Nov 24 07:19 GMT, by ecPulse.com

The Bank of Japan released its monthly report for recent economic and financial developments today. The bank raised its assessment for economic conditions saying that the economy is picking up due to...

Today's Key Points
Nov 24 06:58 GMT, by Danske Bank

In the morning focus will be on the German Ifo survey for November and Euroland new industrial orders for September. Ifo is likely to arrive near consensus, with the expectations index roughly flat an...

Asia Session Recap
Nov 24 06:50 GMT, by Forex.com

Even with Japan back in action after a long three day weekend USD/JPY failed to make any waves today, once again stuck in a stagnant range of about 25 pips. However, the yen crosses were all subjected...

Asian Market Update
Nov 24 06:49 GMT, by Trade The News

In currencies, USD strengthened against European and commodity majors on risk aversion in Asian bourses ahead of the first revision of the Q3 GDP report in the US. EUR/USD retreated from 1.50 for the...

All Daily Forex Fundamental Reports >>




Technical Analysis                                                                                              
                       Daily and Weekly Technical Reports

FX Technical Analysis
Nov 24 07:31 GMT, by Mizuho Corporate Bank

EURUSD Comment: Still well bid and not overbought, though bullish momentum is low. It looks as though we are setting up for a re-test this year's high at 1.5064. Rising trendline and the Ichimoku 'clo...

Daily Technical Outlook
Nov 24 07:14 GMT, by Innerfx

Range-bound trading below the 1.5000 handle, supported by 1.4850 bottom, continues – the euro facing a strong resistance into the 1.5000 region once again, on yesterday. Intra-day sentiment is bearish...

GBPUSD - Reverse Higher, Targets The 1.6674 Level
Nov 24 06:25 GMT, by FXTechstrategy

The pair is starting off the week reversing off its intra day low at 6471 level in early trading today. We will want to see further recovery higher beyond the 1.6674 level, its Nov 20'09 high on a dai...

EURUSD - Higher Recovery Aims At The 1.5014 Level
Nov 24 06:23 GMT, by FXTechstrategy

Rising from its past week losses, EUR was seen rallying strongly today reversing all most of its last week losses and clearing the way for further upside towards the 1.5014 level, its Nov 16'09 high....

Forex and Dow Jones Recommended Levels
Nov 24 06:15 GMT, by FXtechtrade

EUR/USD Today's support: - 1.4888, 1.4870, 1.4852 and 1.4826(main), where correction is possible. Break would give 1.4813, where correction also may be. Then follows 1.4786. Break of the latter would...


All Daily Forex Technical Reports >>

Forex analysis : Daily forex news












Daily Analysis

Dollar Tumbles After Big Day on Wall Street
Tuesday, 24 Nov 2009 06:16:21 GMT


The Dollar decreased dramatically on Monday after a big day on Wall Street led to increased risk taking behavior among investors. An increase in equity and the price of commodities, as well as positive news on existing U.S. home sales had a dramatic effect on trading. Investors dumped their dollars in favor of high yielding currencies such as the EUR, which made impressive gains.


Full article    -   Forex News Archive


New York Close Forex Update

 
Gold Surges to Record Highs
Monday, 23 Nov 2009 21:32:44 GMT
 
The EUR and other higher yielding currencies maintained their gains during Monday's trading as global stocks, Oil and Gold rallied. Demand for the greenback was hurt by earlier comments from a Federal Reserve official. In an interview Sunday, Federal Reserve Bank of St. Louis President James Bullard said he would prefer the central bank to extend its purchases of mortgage-backed securities beyond March to give policy makers more flexibility in directing the economy toward recovery. The statement added to concern the market is being flooded with greenbacks, putting pressure on the currency.


Full article   -  Forex News Archive


Afternoon Forex Update

Gold Soars as the Dollar Weakens
Monday, 23 Nov 2009 12:01:55 GMT


The dollar weakened against most of its major currency counterparts during the morning trading session. The Dollar is currently trading lower against the GBP by nearly 100 pips at 1.6620. It is also trading lower against the EUR and CHF, as investors remain wary of making big bets in favor of the Dollar these days.


Full article   -  Forex News Archive

Forex Jargon - News










Forex Jargon


Markets have a language all their own and within that language, forex has its own dialect. Here are some terms we commonly use in our commentary. If you would like to see additional terms defined, e-mail sem at forexlive.com
 
 



Bank for International Settlements (BIS) an international organization which fosters monetary and financial cooperation and serves as a bank for central banks. The BIS often acts as an agent in the forex market, allowing central banks to mask their identity in an attempt to dampen market impact.

Barrier option: A type of “exotic” option that comes into existence or ceases to exist once a certain price is reached. They are often added to a “vanilla” or typical option to make the premium less expensive. For example, a 1.4000 EUR/USD call purchased when spot is at 1.3500 would be cheaper if there were a “knockout” embedded in the option, for example at 1.3300. If 1.3300 trades before the expiration of the options, the whole structure would be “knocked out” and the seller of the option would be able to pocket the entire premium.

Bid: A buy order placed at or below the market.

Buba: The market nickname for the Bundesbank, Germany’s inflation-obsessed central bank

Cable: Nickname for GBP/USD. Originates from the use of transatlantic cables to transact currency deals years ago. Anyone who uses terms like “Cable-yen” or “euro-cable” is to be dismissed as am amateur.




Corporates: The treasury departments of large multinational corporations. They are responsible for hedging the forex exposures of their firms, which can have dramatic impacts on earnings for firms with large overseas sales. For example, a company like Airbus has massive revenues in dollars but has most of its cost base in euros. They must hedge their currency exposures to try and offset this mis-match.

Custody bank: A bank which holds securities in custody for other financial institutions, does their bookkeeping and settles their trading activity. Examples include Bank of New York Mellon, State Street and Northern Trust Co. Also know as custodians

Delta The ratio comparing the change in the price of the underlying asset to the corresponding change in the price of a derivative. Sometimes referred to as the “hedge ratio”. Thanks to Investopia.com

Double-no-touch (DNT) An options strategy which pays the owner of the structure if prices stay within a pre-defined range during the length of the contract. For instance a 1.30/.35 DNT would pay off if prices do not trade outside that range while the option is in force.

Ecofin: A council consisting of the economy and finance ministers of the European Union. They meet once a month.

Eurogroup: A group of finance ministers of countries who are members of the euro. It’s spokesman is Jean-Claude Junckers, the finance minister of Luxembourg.

Fade: to trade counter to. For instance, to “fade a trend” is to counter the trend. To fade a rumor is to believe it to be untrue and do the opposite of what the rumor would suggest.




Fibonacci retracements: A useful tool for traders as markets correct during trends. Technicians look for support on pullbacks at 38.2% of the uptrend or rebounds in an downtrend, 50% and 61.8%. Derived from the “golden ratio” of Italian mathematician Fibonacci.

Fixing: A preset time of day when bids and offers are aggregated and cleared at a published price. Popular fixings are the “ECB fix” at 12:15 GMT and the London fixing at 16:00 GMT. Fixings are used primarily by asset managers. They have a fiduciary responsibility to get their clients the best possible execution and the thinking is the fixing price is the most transparent of the day. The benchmark price is published by the WM Company.

Funds: Market nickname for the USD/CAD currency pair.

Gamma Concepts in the options markets are expressed in terms of the Greek alphabet. Gamma refers to the rate of change in an option’s delta relative to the price of the underlying asset. A short gamma position will become shorter as the price of the underlying asset increases. As the market rallies, you are effectively selling more and more of the underlying asset as the delta becomes more negative.

Loonie: Nickname for the Canadian dollar. Derives from the picture of a Loon on the $1 coin. What is a $2 coin called? A twonie, of course!

Model fund: Hedge fund which uses some form of quantitative model to initiate and liquidate trades. The most familiar type of funds are trend-followers like J.W. Henry and Co. Many of these funds trade at set times during the day, often at 10 am New York time.

Offer: A sell order places at or above the market price.

“Old Lady”: A nickname for the Bank of England. “The Old Lady of Threadneedle St.”




Outside day key reversal Key reversals are outside days either at trend highs or lows. A key reversal down occurs when a market makes a new high, then reverses down takes out the previous day’s low, and closes lower than the previous day’s close.

Plain vanilla option: The most basic option type with a simple expiration date and strike price with no additional features.

Price keeping operations (PKO) Usually refers to Japanese authorities intervening in equity (and sometimes forex) markets to defend a particular price level.

Prime brokers: Firms which allow clients like hedge funds to use their credit facilities to access financial markets. For example, a hedge fund client of Bank X can trade in the interbank FX market using Bank X’s name in return for a fee.

Quantitative ease: A strategy used by central banks once targeting short-term interest rates becomes ineffective because rates have reached zero (or close to it). The central bank buys assets, typically government bonds, in an effort to inject money into the economy.

Real money; Nickname for “end users” of foreign exchange, who trade to pay for transactions or liquidate proceeds from transactions in other markets like equities, fixed income and commodities. We typically use real money as shorthand for institutional asset managers like pension funds, mutual funds and endowments. Some include corporations in their definition. We do not.




Reflation trade The purchase of asset classes that investors expect to do well in an economic recovery. Commodities, equities and emerging markets are examples. Asset classes to be avoided in a reflationary atmosphere include bonds and low-yielding currencies.

Stop-loss: An order which closes out a market position once a certain price level trades in the market. For example, a sell order placed below the market price to protect against accelerating losses.

Sovereign wealth fund (SWF): A fund set up by a country with large foreign exchange reserves to help manage those reserves. Typically SWFs purchase long-term securities to try and enhance investment returns beyond what central banks typically earn holding government debt. Examples include the Government of Singapore Investment Company and the Abu Dhabi Investment Authority.

Sovereign names: Used interchangeably for sovereign wealth funds or central banks.

Toshin: Japanese investment trusts which invest in non-JPY denominated assets.

Forex Trading News











Swiss names selling EUR/USD
Written by Sean Lee

November 24, 2009 at 05:40 GMT


Very early risers in Zurich by the looks of things. EUR/USD has fallen swiftly from 1.4956 towards its session lows around 40 after some fairly heavy selling from Swiss banks.


Share and Enjoy:




More rumours about WestLB
Written by Sean Lee

November 24, 2009 at 05:28 GMT


This article from today’s Frankfurter Allgemeine Zeitung is saying that (if my German translation is accurate) the two main stakeholders in the WestLB are threatening to let the bank go insolvent. Firstly I don’t know if they are in a position to do so, secondly I cannot vouch for the accuracy of the article and thirdly this story has been out in the market for a few hours. Nevertheless, it is Asia and European traders may take a very different view to what Asia has.


Sell a break of 1.4925 with a trailing stop is the way to trade this particular issue I think.

Share and Enjoy:




Asian forex market wrap: don’t be happy, worry!
Written by Sean Lee

November 24, 2009 at 04:56 GMT


Asian markets fell across the board despite a very positive lead-in from Wall Street


The USD rebounded modestly, making gains against all the majors except for the JPY

Australian government and opposition are struggling to reach a compromise on an Emissions Trading Scheme (ETS) and a failure to agree could potentially lead to a general election

Japanese government again stresses the importance of monetary policy in fighting deflation

Chinese think-tank calls for stricter capital controls

Gold has been steady despite the modest recovery in the USD, flat on the session at $1164.50/oz
 
 
USD/JPY is tied in between buy orders from semi-official names at 88.60 and corporate selling interest at 89.20/30. Trailing stops are seen either side of this range. USD/JPY opened at 89.05 but has drifted lower amid some signicant selling in the JPY crosses around the time of the Tokyo fix. Range: 88.82/89.06


AUD/USD opened close to its session highs at .9250 but the weak open on the Nikkei and some decent-sized selling interest in AUD/JPY at the Tokyo fix drove the pair lower, triggering trailing stops below .9210. The prospect of an early general election being called due to failure to reach agreement on an ETS has also encouraged some long positions to book profits. Range: .9196/.9255.

EUR/USD followed a similar trend to the AUD, falling as EUR/JPY selling at the fix dominated proceedings. Solid bids just below 1.4940 from two US banks has stalled the drop but stops are now noted below 25/30. Range: 1.4939/71.

Sterling has relatively quiet also but has once again fallen faster than the EUR with EUR/GBP gaining about 20 pips during the session. There were no major GBP-related announcements. Cable range; 1.6562/1.6618.


Markets: Nikkei -0.8%, HK -0.6%, Kospi -0.4%, Sydney -0.3%. Oil steady at $77.50/bbl.

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German Ifo data to provide for volatility in early European trade
Written by Sean Lee

November 24, 2009 at 04:32 GMT
 
The EUR/USD has been trading between 1.4940/50 for the last few hours but that calm is likely to be disturbed when European trade gets underway. The German Ifo data usually adds some spice to the market and with bids at 1.4935/40 and heavy stops below 25/30, we are expecting a lively start to the session. The release of the Fed’s minutes from the last meeting and the revised numbers for US Q3 GDP should also liven things up later in the day.


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No bounce in AUDUSD
Written by Sam Diakou

November 24, 2009 at 03:33 GMT


Weighed on by unexpectedly weak Asian bourses, the AUDUSD is finding it hard to bounce off its lows. The support at 9180 looks like it maybe tested. If we break below that then its back to the low 91’s we go. It needs to break back above 9280 if we are to see the recent highs again.


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EURUSD: Buyers under 1.4940
Written by Sam Diakou

November 24, 2009 at 03:10 GMT


Hearing there are at least 2 good US names buying under 1.4940. The earlier attempt to push for stops sub 1.4930 failed, running into the buyers sub 40. The 20 pip bounce from the low has seen some weak intraday shorts cut their positions. The longer we hold above 1.4830, the more the chance of a short squeeze into the European session.



Watch 1.4830 on the downside and 1.5020 topside.

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Japan Fujii says cant support demand with just fiscal policy
Written by Sam Diakou

November 24, 2009 at 02:25 GMT
 
Japan’s FinMin, Fujii, has said that the weakness in demand cannot be revived with just fiscal policy alone and that monetary policy is the key to fighting deflation.


Nothing new, no change in USDJPY.

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Sunday, November 22, 2009

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