Forex day trading, most exciting way to make money from home

I started on stock and forex trading about 3 years back, and frankly speaking I wasn’t good on these things at that time. However, I am not a quitter, I know if I did it right I would make some profit, so I keep learning and learning, well it took sometime until then I able to did my first withdrawal and it was so excited. If only I gave up by that time when I thinked that I wasn’t good, surely this exciting feeling won’t even come to my mind. Now, I can smile happy every month with at least 8% – 25% of my capital banked to my account.

Speaking about our stock or forex trading expertise, Wileys Publising, publisher of "For Dummies" series released a very shopisticated book about forex and stock trading, "Day Trading for Dummies" is undoubtedly the most exciting way to make money from home. It’s also the riskiest. Before we begin, we need three things: patience, nerves of steel, and a well-thumbed copy of Day Trading For Dummies—the low-risk way to find out whether day trading is for us.

This plain-English guide shows us how day trading works, identifies its all-too-numerous pitfalls, and get us started with an action plan. From classic and renegade strategies to the nitty-gritty of daily trading practices, it gives us the knowledge and confidence we’ll need to keep a cool head, manage risk, and make decisions instantly as we buy and sell our positions. Learn how to:

• Set up our accounts and our office
• Connect with research and trading services
• Plan and research trades carefully and thoroughly
• Comply with regulations issues and tax requirements
• Leverage limited capital
• Cope with the stress quick-action trading
• Sell short to profit from price drops
• Evaluate our day-trading performance
• Use technical and fundamental analysis
• Find entry and exit points
• Use short-term trading to establish a long-term portfolio

We’ll also find Top-Ten Lists of good reasons to go into day trading, or run from it in terror, as well as lists of the most common (and expensive) mistakes day traders make. Read Day Trading For Dummies and get the tips, guidance, and solid foundation you need to succeed in this thrilling, lucrative and rewarding career.

This book will cost us US$24.99, but if we would buy it from this link, we would save 37%, what a great discount isn’t and if we really-really a newbie or perhaps an intermediate trader but get lost most of the time, then purchasing this book will worth every penny.

Building Your List For Free with AdSwaps

It’s time for a quick update on how well using AdSwaps is working for me in building my newsletter or subscriber “list”, and I’ve got a couple of screen shots which I hope will make it clear just how good a method this is….

I was first introduced to the idea of “adswaps” back in August last year by another marketer called Sean Mize.

He got in touch with me to ask if I would be interested in sending his free offer to my subscribers in return for him sending my free offer to his list.

Now I was used to doing “JV’s” with other marketers where we each send out the other’s paid product offer to our subscribers, and both make some profits in the process, but I’d never done “free swap”, or “adswap” as Sean called it, before, so I was interested in testing it out to see just how well it worked.

I gotta say I was pretty happy with the result.

here’s a snap shot of what happened to my sign up rate in August and September last year when I started doing these swaps: -

At the time I had around 5-6k subscribers on my list and you can see that whenever I did an adswap with a new partner it would result in an extra 100-200 confirmed optins for that day!

You can quite easily spot the spikes in the optin rates in the image above!

and now?

well, I have to admit, sometimes I get lazy and don’t do any adswaps for a week or so, like back at the start of January, but you can see in the image below what happens again when I set up just a few adswaps each week: -

So how can you get in to adswaps?

Easy, go join up for the free IMAdSwaps forum here: -

http://www.imadswaps.com

NOTE: Once you sing up for the forum you will need to open a support ticket on my support desk below and tell me what the profile name you set up is, so that I can approve it. I do this manually to stop spam bots getting in to the forum and posting a load of junk.
http://imtesting.com/images/askmattgdotcomcontact.gif

and if you’d like some “social proof” from other forum members, here’s a testimonial that I received last week that I haven’t got around to putting on the landing page yet: -

“Matt Garrett’s forum is worth at least $2,000 per month for me.
This is the big secret behind how I grew a decent sized list so fast.”

Jason Parker
www.erevenueselect.com

Yup, this is one of those “secret” methods that marketers use to build their lists FAST!!

and the great thing is that you’re actually giving your subscribers good value at the same time as they get some sort of free report or product in the process…

So go get in the forum and start doing adswaps to build your list the quick and FREE way!!!

http://www.imadswaps.com

p.s. there is also a fre report that Sean and I put together for you to help you get started, you can grab it as soon as you’re in the forum.

more information Internet Marketing klick here www.adimerdeka.co.cc

US Dollar Restricted to Narrow Range - What Could Force a Breakout?

written by David Rodriguez, Quantitative Strategist

Impressive rallies in the S&P 500 left the US Dollar lower against all major currencies except the Japanese Yen, but a relative sense of unease across financial markets highlights risks of a major USD bounce.

US Dollar Restricted to Narrow Range – What could Force a Breakout?

Fundamental Outlook for US Dollar: Neutral

- US Dollar falls as Goldman Sachs results boost S&P 500
- US Jobless Claims boost hopes that economy may recover
- US Dollar may react to Federal Reserve’s Ben Bernanke Testimony

Impressive rallies in the S&P 500 left the US Dollar lower against all major currencies except the Japanese Yen, but a relative sense of unease across financial markets highlights risks of a major USD bounce. US and European equity indices finished the week anywhere from 6-8.5 percent above their previous close—good for a 2000-3000% annualized rate of return. Early-week moves came on impressive earnings results from Wall Street titan Goldman Sachs and relatively benign economic data. It is easy to claim, however, that recent developments are unlikely to sustain such an impressive rate of returns. A relatively empty week of economic event risk ostensibly limits volatility expectation in the days ahead, but traders should keep a close watch on several key earnings reports and effects on the S&P 500 and US Dollar.

The US currency remains in a wide and choppy range against the Euro and other key currencies, and it may take a fairly significant shift in financial market risk sentiment to break the dollar from its trading channel. Had we known a week ago that the S&P 500 would break to fresh 30-day highs, we may have claimed that the EUR/USD would similarly break to fresh medium-term peaks. Yet forex markets clearly had other things in mind—constraining the heavily-traded currency pair to its two-month wedge formation. Consolidation patterns typically lead to noteworthy breakouts, but a continued downtrend in volatility expectations gives little reason to believe such a break will come in the week ahead. Indeed, the DailyFX 1-week currency volatility currently stands near 12-month lows.

The obvious question remains: What could break the US Dollar from its medium-term trading range? In short, there is no real way to know. Our natural suspicion is that it will take a substantial deterioration or improvement in financial market risk appetite to break the EURUSD below 1.3700 or above 1.4300. The rolling correlation between the EURUSD and US S&P 500 continues to trade near record-highs—emphasizing the US Dollar’s sensitivity to the key risk barometer. Equity markets remain similarly linked to the trajectory in commodity markets; the S&P – Reuters CRB Commodities Index correlation likewise trades near all-time highs. Increasingly clear connections across ostensibly unrelated asset classes underline the risk that a tumble in one will lead to sympathetic moves in another.

It remains critical to monitor the trajectory of key financial market health indicators and their effects on the US Dollar. As we continue to argue, noteworthy deterioration in financial market risk sentiment will likely be the spark to force major US Dollar rallies. Absent the correction, the Euro/US Dollar currency pair may continue to trade in a progressively narrower range. – DR

For more timely FX market analysis, visit our newly-launched Forex Stream Service.

Forex Market Offers Opportunity And Information

The forex market is what is called an international exchange currency market, where currencies are exchanged on a daily basis. There are five forex market centers around the world — New York, London, Tokyo, Frankfurt and Zurich. One does not need to be on the trading floor, so to speak to be involved in the forex market. Today, forex trading can be done from home on a computer.

The forex market itself is basically a worldwide connection of traders, who make investment moves based on the price of currencies, or their values relative to other currencies. These traders constantly negotiate prices with other traders resulting in the fluctuation or movement of a currency's value. The value of a currency on the forex market also corresponds with supply. If there is greater demand for the Euro, let's say, then there will be less supply of it on the forex market, which means, in time, it will make a Euro more valuable compared to let's say the dollar. In short, in this forex market situation, one Euro would yield more dollars, subsequently weakening the dollar as well. Analyzing the forex market's fluctuations allows investors to make predictions on how a currency will move in relation to another currency. They then can make predictions and buy and sell currency accordingly.

While some people view the forex market as a place to see what their exchange rate will be when they travel abroad, others view it as an opportunity to make great gains in their financial planning and future.

by Jay Moncliff

Investing in Forex

Investing in foreign currencies is a relatively new avenue of investing. There are considerably fewer people are aware of this market than there are people aware of several other avenues of investing. Trading foreign currency, also known as forex, is the most lucrative investment market that exists. There are several factors that make this true among which, successful forex traders earn realistic profits of one hundred plus percent each month. Compared to some of the better known investment markets such as corporate stocks, this is an unheard of return on investment. It's very necessary to mention here that a person who invests in forex must, without exception, make it a point to learn the detailed, but simple strategies and information surrounding the market. This very fact is what makes the difference between successful forex traders and other traders.

A few additional points, which create such powerful leverage for investors within the forex market are: The amount of capital required to begin investing in the market is only three hundred dollars. For the most part, any other investment market is going to demand thousands of dollars of the investor in the beginning. Also, the market offers opportunities to profit regardless what the direction of the market may be; In most commonly known markets investors sit and wait for the market to begin an up trend before entering a trade. Even then, investors, as a rule must sit and wait some more to be able to exit the trade with a nice profit. Given that the forex market produces several up, down, and sideways trends in a single day, it can easily be seen that forex stands head and shoulders above other markets. Additionally there are trading strategies, which are taught that provide for compounded profits; these are profits on top of profits. In addition, free demo accounts are available within the industry of forex trading, which facilitate the sharpening of skills without the risk losing any capital. And the advantage regarding the time factor in trading foreign currency is a very attractive point for any investor. Compared to one of the most sought after avenues of investing, which often requires forty or more hours each week, namely in the real-estate market, the forex market requires a much smaller demand on the investor's time. Forex trading requires approximately ten to fifteen hours each week to earn a full time income. It's easy to see that the advantages and great leverage that exist in the forex market, make it among the most lucrative, time liberating, and easy to enter by far.

I hope this information gives you a clear understanding of how you can turn your investing into a true method of making your money work harder for you.

by Joe Clinton

A Crash Course in Forex Education – What You Need to Know to Get Started

The Forex, or foreign currency exchange, is all about money. Money from all over the world is bought, sold and traded. On the Forex, anyone can buy and sell currency and with possibly come out ahead in the end. When dealing with the foreign currency exchange, it is possible to buy the currency of one country, sell it and make a profit. For example, a broker might buy a Japanese yen when the yen to dollar ratio increases, then sell the yens and buy back American dollars for a profit.

The Forex and the stock market have some similarities, in that it involves buying and selling to make a profit, but there are some differences. Unlike the stock market, the Forex has a much high liquidity. This means, much more money is changing hands everyday. Another key difference when comparing the Forex to the stock market is that the Forex has no place where it is exchanged and it never closes. The Forex involved trading between banks and brokers all over the world and provides twenty-four hour access during the business week.

Another difference between the stock market and the Forex is that Forex trading has much higher leverage that the stock market. When someone decides to invest in the Forex, they can expect much higher profits when they are experienced and understand how it works. There can also be the potential for losing much more money as well.

For those who are just getting started in the Forex, many brokers provide the service of trading using the mini-Forex system. This has a smaller minimum deposit, usually $100. This makes it easier for those learning how to trade on the Forex to have less of a chance of losing a lot of money and to learn how the system works.

There is a lot of terminology when dealing with the Forex. Learning to trade on the Forex can be somewhat complicated for the novice trader. When looking at the names used in the Forex, a symbol is composed of two parts. The first one that is used is one currency and the second half of the symbol is the second currency that is being used. The symbol “usdjpy” means “US dollars” and Japanese yen. It is important to learn what currency symbols mean when learning about the Forex. There are many books and websites dedicated on teaching traders about using the Forex.

For those using the Forex, a broker is usually a good idea. Brokers are professionals when it comes to trading on the Forex and their experience is invaluable, especially to the new trader. When it is time to find a broker, there are several factors to consider. One thing to look for when choosing a Forex broker is to go with someone that offers low spreads. The spread is calculated in pips, or the difference between the price at which currency can be purchased and the price it can be sold at any given time. Because Forex brokers do not charge a commission, they will make their money off of the spreads, or the difference. When choosing a broker, look at this information and compare that with other brokers.

Also, when looking at a Forex broker, look for one that is backed by a well known financial institution. Forex bankers are generally associated with large banks or other types of financial institutions. If a broker is not with a large bank, keep looking. In addition, find a broker that is registered with the Futures Commission Merchant (FCM) and that is regulated by the Commodity Futures Trading Commission (CFTC). Making sure that the broker is properly registered and backed by a large bank or institution ensures that you are getting a reliable broker that is experienced in trading on the Forex.

When looking for a broker, check to be certain that the broker has access to the latest research tools and data. It is important that brokers understand and have access to charts, graphs, news and data that are in real time. This will ensure that the broker is making wise decisions based on accurate Forex forecasting. Also, look for a broker that can offer a wide range of account options. They should offer mini-accounts with a smaller minimum deposits and a standard account. This will give anyone interested in the Forex the opportunity to trade at a level where they feel most comfortable.

Forex Definitions, Terms and Acronyms:

• Strengthening currency - a currency that is appreciating, or becoming more valuable.
• Rocket scientist (slang) - a financial consultant with exceptional mathematical and computer programming skills.
• Pip - the smallest number in a quotation of a currency.

Your Mother Could Make Money In Forex Trading

The question would be not whether she could but rather would she enter the Forex trading market. The Forex day trading arena is a veritable snake pit ripe for scam artists to bilk money out of unwary investors. On the other hand, it is a forum for educated traders with the correct education, tools, and trading strategy to make a handsome income.

Becoming a successful Forex trader basically comes down to four things; 1) attaining the correct education, 2) using Forex tools which 3) use your own personal trading strategy, and 4) finding the correct Forex broker to fulfill your requirements. Let's look at these individually:

Attaining the correct education. Your Mother may not know the difference between a Forex PIP and one of the backup singers for Gladys Knight. So would you send her to one of those infomercial Forex riches classes to find out? We hope not! There are literally hundreds of training courses and materials out there for proper training. Word of mouth recommendations might be the best path to follow here.

Forex tools can also do many things like send trading signals and various buy/sell alerts to your desktop or mobile device based on what your personal trading philosophy dictates. Many of these tools are software based and some are provided via your favorite Forex trading sites. Not all people base decisions based on these signals though and use things like technical and fundamental analysis to determine when to buy or sell.

It also is essential to develop your own personal trading strategy. Your ability to assume certain risks might not exactly be what other traders or your broker recommends. A Forex trading strategy is not something generic and involves your personal game plan.

Before trading Forex you need to set up an account with a Forex broker. You may feel overwhelmed by the number of brokers who offer their services online. Deciding on a broker requires a little bit of research on your part, but the time spent will give you insight into the services that are available and fees charged by various brokers.

One of the most important ways to make the greatest return (and, also carry a greater loss risk) in Forex trading is with the use of a margin account. These accounts may let you trade as much as $100k in currency for as little as $1000. Margin accounts are the lifeblood of Forex trading, so be sure you understand the broker's margin terms before setting up an account. You need to know the margin requirements and how margin is calculated. Does margin change according to the currency traded? Is it the same every day of the week? Some brokers may offer different margins for mini and standard accounts.

Used correctly and together, the above items can lead to a comfortable part or full time income. If you don't use all the information available to you, though, you may as well let Mom take the weekend visit to Vegas with her money to see Gladys Knight. Make sure that she has developed her own Forex trading strategy and has used "paper trades" many times before actually beginning trading for real. Better that ole Mom is equipped to make some real money rather than throwing it away on the gaming tables.

by Wayne Watson

Tips to Make Money Fast in Forex

This is all about making a fortune with Forex. Most traders just go with the flow and make average gains, with this article you will learn what makes some traders stand out and a lot richer than others!

We are going to assume that you know how to trade, and has quite an experience in trading.

With simple changes in your trade selection, money and risk management, and mindset, you can change that average gains into larger ones!

Fast money is in Forex, it is a lifestyle. here is it how its done.

Tip 1 . Embrace Changeability and Risk With a Smile

Forex systems have instability.

If you cannot manage and calculate your risk, then don't ever think about trading in Forex. Many traders back away from forex because of this ( why do you even traded in the first place?). But taking manageable risks has its rewards.

It's just simple, you know what your losing if ever it doesn't work out, yet what you gain is unpredictable but sure is high! That is what I call excitement, my friend.

To a well-educated Forex trader, this is something you shouldn't be afraid of, might as well embrace it.

Tip 2. Trade Less, gain more

Most traders think that if they don't trade, another door has closed, or miss some move. The tendency, they trade frequently. Most of the trades that come big come a few times in a year. Focus on the trades that make the really big gains. Be alert, and informed.

Tip 3. Diversify is a no-no

Most Investors accept the fact that diversification can make money fast - in reality it does exactly the opposite.

Tip 4. Money and Risk Management

This article has been concentrating on the Big gains, because this is your money, so every penny should be controlled, this is where money management kicks in.

Control your risks, but increase your chances of success:

- Give yourself staying power by buying options at or in the money, this prevents you from getting stopped out. Many traders lose not by the market direction, but because they were stopped out by a instable move, and options will give you staying power.

- Keep your stop in its original position - until the move is well in profit, before moving it up.

- Trading fast and selectively - have the courage to trade when you feel it is good. and enjoy the cash.

Tip 5. Compound growth has its benefits

The way to make money fast in forex, is to understand the power of compound growth. For example, if you target 50% a year in your trading, you can grow an initial $20,000 account, to over a million dollars, in under 10 years.

Break the norm, and gain more. Follow some of these tips and make your way into the big gains!

by Ryan Joseph Ferrer

Forex Avenue: The Road to Riches

In my continuing quest to provide visitors of my site with a large amount of options to chose from when considering working from home I have done some research on Forex trading. I first learned of Forex trading while pursuing my MBA program. For those of you who have never heard of this, Forex trading is the exchange of foreign currency.

I know I would have never even know this was an option for making money had I not found out in class. Most of the really big corporations have departments of people that do this for a living because it can be very lucrative if done correctly. The best news I have learned about this process of exchanging currencies is that many of the websites that you can sign up with to do this offer free trial accounts to help you learn before you invest your money into trying it. You won't make any money in the trial accounts if you do well, it is just pretend money essentially but with the real market conditions. If you do well in the trial account you will know if this is something you want to try on your own.

Benefits to Forex trading are that is can be done 24/7 whereas the stock market is a business hours only exchange. It is 24/7 because it is done with countries around the world so clearly there are countries that are awake and working while we sleep. Another benefit is you are in control of the trading on your account. You do not need to hire a licensed broker to make your trades and charge you fees. Along those same lines, anyone who does any investing most likely knows that some funds require you to own then for a certain period of time or pay early withdrawal fees. You do not need to concern yourself with this either. One last benefit that I would like to point out is the fact that Forex is not really subject to the same kinds of swings in the market that stocks are subject to. Of course if you always buy and sell the same currencies then there will be market swings. But, because there are hundreds of currencies out there, there is always going to be something for you to make money on because while one currency is up in value another one is down and vice versa.

There are many resources available to someone interested in becoming involved in this type of training. The Federal Reserve Bank's website is just one example of the information available — http://www.ny.frb.org/markets/foreignex.html. Here is another article that you will find helpful in starting out in this field. http://www.forex.com/pdf/pro2.pdf . I have also included one of the sites that does offer a free lesson.

While there are many benefits to this type of training, as I mentioned above, there are certainly risks involved as well. There are risks with exchange rates, central banks in foreign countries, and risks involving interest rates and credit. Forex is quickly becoming a popular way to help diversify your investment portfolio. If you are good with understanding investing concepts and enjoy doing it this may be the home business opportunity for you. Just do your research and try to find one of the sites offering the free trial account to practice with and you are well on your way down the Road to Riches.

by Scott Bianchi

Moneybookers Forex Brokers

A list of Forex brokers which support Moneybookers payment system as an option for funds deposit/withdrawal. Moneybookers is a popular British electronic payment system that is acceptable world-wide. It is regulated by Financial Services Authority in United Kingdom. Brokers accepting this payment system confirm their valid bank account details and the physical location.

Sort by: Order | Minimum Account | Traders' Rating | Name

Forex Broker Name	Min. Account Size	MT4	WebMoney	CFD	Browser-based Platform	Registered with any Regulator	Easy On-line Account Opening	Rating
Ava FX	$100	-	+	+	-	-	+	8.7
InstaForex	$1	+	+	+	-	+	+	3.7
eToro	$50	-	+	-	+	-	+	4.1
FxCompany	$100	+	+	+	-	+	+	7.7
LiteForex	$1	+	+	+	-	-	+	5.2
InvestTechFX	$100	+	-	+	-	+	+	7.6
Finexo	$100	-	-	-	+	+	+	4.1
Forex WebTrader	$25	-	-	-	+	-	+	7.7
IG Markets	$200	-	-	+	+	+	+	5.2
GCI Financial	$2,000	+	+	+	+	+	+	7.2
Forex-Metal	$1	+	+	+	-	+	+	5.7
FX|Clearing	$10	+	-	-	-	+	+	5.7
EMPFX	$300	-	-	+	-	-	+	7.8
BroCo	$10	+	+	+	-	+	-	5.3
Forex Place	$100	+	-	+	-	-	+	6.0
Wall Street Brokers	$10	+	-	+	-	-	+	8.2
FXM Financial Group	$10	+	+	-	-	+	+	6.9
UFXBank	$500	-	+	-	+	-	+	5.9
MoneyRain	$100	+	+	+	-	+	+	5.1

Advantages of the Forex Market

What are the advantages of the Forex Market over other types of investments?

When thinking about various investments, there is one investment vehicle that comes to mind. The Forex or Foreign Currency Market has many advantages over other types of investments. The Forex market is open 24 hrs a day, unlike the regular stock markets. Most investments require a substantial amount of capital before you can take advantage of an investment opportunity. To trade Forex, you only need a small amount of capital. Anyone can enter the market with as little as $300 USD to trade a "mini account", which allows you to trade lots of 10,000 units. One lot of 10,000 units of currency is equal to 1 contract. Each "pip" or move up or down in the currency pair is worth a $1 gain or loss, depending on which side of the market you are on. A standard account gives you control over 100,000 units of currency and a pip is worth $10.

The Forex market is also very liquid. When trading Forex you have full control of your capital.

Many other types of investments require holding your money up for long periods of time. This is a disadvantage because if you need to use the capital it can be difficult to access to it without taking a huge loss. Also, with a small amount of money, you can control

Forex traders can be profitable in bullish or bearish market conditions. Stock market traders need stock prices to rise in order to take a profit. Forex traders can make a profit during up trends and downtrends. Forex Trading can be risky, but with having the ability to have a good system to follow, good money management skills, and possessing self discipline, Forex trading can be a relatively low risk investment.

The Forex market can be traded anytime, anywhere. As long as you have access to a computer, you have the ability to trade the Forex market. An important thing to remember is before jumping into trading currencies, is it wise to practice with "paper money", or "fake money." Most brokers have demo accounts where you can download their trading station and practice real time with fake money. While this is no guarantee of your performance with real money, practicing can give you a huge advantage to become better prepared when you trade with your real, hard earned money. There are also many Forex courses on the internet, just be careful when choosing which ones to purchase.

by Heather Redmond

Currency Pair for 15.07.09 with the prediction for today (16.07.09)

On Wednesday, the European currency demonstrated all its power. With the Asian session opening the pair ticked up, not giving the dollar a chance. Only by the deals closing the pair had lowered from the session highs around 41st big figure. The pair's decrease was connected with the long positions fix-up. The first level at 1.4007 was passed through in one breath. The only thing able to stop the pair for a while was the resistance level at 1.4070, but it wasn't too long. As a result, the trading day maximum was at 1.4134. All in all, the EU currency gained 130 points versus the dollar. The volatility rate reached 171 points.

The main factors, weakening the greenback and strengthening the single currency, was the U.S. fundamental data and reports from the major American corporations and banks.

From the European essential findings worth paying attention to the consumer price index, which fell by -0.10% coming in line with the experts forecasts. The quarterly reports from Intel and Goldman Sachs bank came in better than the preliminary estimates, giving a huge support to the risky currencies. Amid this data release the U.S. dollar dropped to the 2-week low against majors.

The core consumer price index, according to yesterday's datums, remained at 0.20%, although the consumer price index rose to 0.70%, better than the economic predictions of 0.60% growth. This indicator increase is mostly due to the escalation in prices for clothes, automobiles, entertainment and recreation. It's summer time.

Despite the Empire State manufacturing index showed a negative reading at -0.60%, it was much better than the experts' forecasts of -5.30% decline. The industrial production also contracted to -0.40%, but less than the last period result -1.20%.

Yesterday, the U.S. President Barack Obama warned that, possibly, the jobless rate in the USA may rise before moving down. Mostly, it is due to the automotive industry, which is not in the best conditions in the USA. The unemployment rate in America amounts to 9,5%, the highest mark for 26 years.

The technical market pattern is still rather interesting. Yesterday, were broken through the most resistance levels, that allowed the pair to touch the 41st big figure range. The upper line of rising price channel from July 08 was also broken through. Currently, the pair is testing this line again, but this time as a support. The Bollinger bands again signal about steady growing volatility rate in the market and, the zone testing is seen at 1.4174. If the pair ticks below 1.4060, we will touch our channel with the short term target around its bottom bound.

The support levels stood at: 1.4060, 1.4036, 1.4015.
The resistance: 1.4088, 1.4117 (the upper part of our formation), 1.4134 (the yesterday's high) and 1.4174.

We watch out for the USA by the economic calendar. In the first part of the trading session will be released the jobless claims data, a lowering to 525.000 is expected, then the TIC long-term transactions volume is due, which indicates the monthly difference between international foreign and internal purchase of long—term securities. The session will be closed by FRS Philadelfia productivity index issue, which is expected to be at -5.0.

Today I recommend to buy the pair at 1-hour timeframe closing above 1.4093 with the target - T/P 1.4134 and S/L 1.4055.

Sell the pair at 1-hour timeframe closing below 1.4054 with the target – T/P 1.4013 and S/L 1.4094

Best regards,

Analyst: M.A.Magdalinin

Asian Central Banks Acting On dollar Weakness

The recent decline in the dollar’s value has prompt intervention from several central banks in Asia which are worried a weaker dollar would further reduce their export capacity.

The central banks of South Korea, Thailand, Taiwan, Singapore and India are believed to have sold their home currency and in return bought the U.S dollar. This as response to the recent decline in the U.S currency.

A major part of Asia’s economy is relying on exports, and so, with every serious drop in the dollar’s value ( as was the case the last week) comes a serious blow to these Asian economies. Just think about a scenario in which Thailand losses its reputation as a cheep resort for tourists, since the later can now only get 70% of what they used to get for their dollar . Not a favorable scenario for the Thai’s, especially with an economy which is geared strongly toward truism.

Z.Georgi

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This post was written by:

GreenBull - who has written 153 posts on eToro Blog.

Goldman Sachs vs. Intel

The U.S market continued to climb higher yesterday, as additional buyers drove the major indices to a positive close. Apart from economic data, Goldman Sachs and Intel both released their earnings reports, having an impact on the intraday session.

Goldman Sachs beat analyst’s expectations, showing increasing profits for the second quarter. Even though the results were positive, the stock failed to present a dramatic move, finishing the session with a gain of only 0.15%. Please note that the stock is currently trading around major resistance of $150, a level that could lead to selling pressure, should the indices fail to continue their recent rally.

In addition Intel released their results after the closing bell, showing strong numbers. Tuesday evening the company released a promising statement showing that sales had jumped in the second quarter, on increasing demand. The stock jumped by 7% in after-hours trading and is now expected to have an impact on the U.S market’s open later today.

Timothy Geithner also gave the indices a boost, mentioning that the U.S economy does look like it is on the right path to recovery. The Treasury secretary stated that even though further problems in the economy and the financial sector are appearing, the U.S has the ability to deal with the situation. One must note that CIT Group Inc’s stock collapsed over the last couple of days, on speculation that the company could fail. According to Bloomberg news, the company’s failure would be the biggest collapse of a financial institution since September last year.

Dollar gave up some strength

Yesterday’s positive session in the U.S had an effect on all the tradable markets, as investors bought riskier assets. On the Forex market, the Dollar index collapsed throughout the session, allowing individual currencies to regain relative strength. The GBP/USD drifted higher, while the EUR/USD closed the session forming an additional hammer candlestick. During morning hours the EUR/USD rallied and is now trading below trend line resistance.

From a technical point of view the EUR/USD has now formed a wedge pattern and is trading below its break-out line. Even though this trade could potentially hit the 1.43 level, one must note that the risk reward ratio is not overwhelming, especially as the trend is still in range.

Economic news also had an influence on the various currency pairs as Germany’s ZEW investor confidence result unexpectedly dropped for the first time in nine months from 44.8 to only 39.5. Even though certain sectors in the Euro-zone are showing slight improvement, one can see from the result that investors are still skeptical, due to the current situation

Over in the U.K, the yearly CPI figure showed a steady rate, coming out at 1.8%, just off the BOE’s comfort level of 2%. The core rate was unchanged, showing a positive result of 1.6%.

In the U.S the Commerce Department released its June retail sales figures, showing that the sector had improved by 0.6 percent, seasonally adjusted from the previous month but had decreased year-over-year.

Market Data to Watch Out For

Even though sentiment is slightly improving, characterized by an increasing stock market and declining Dollar, currency pairs continue to trade in range. A wave of data is going to be released today, starting with European CPI figures. Analysts are expecting to see a drop in prices as the Euro-zone is still trying to deal with economic contraction. Later on during the session, U.S Data will grab investor’s attention as crude inventories are expected to be released, followed by the FOMC meeting minutes.

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What is Forex?

FOREX - the foreign exchange market or currency market or Forex is the market where one currency is traded for another. It is one of the largest markets in the world.

Some of the participants in this market are simply seeking to exchange a foreign currency for their own, like multinational corporations which must pay wages and other expenses in different nations than they sell products in. However, a large part of the market is made up of currency traders, who speculate on movements in exchange rates, much like others would speculate on movements of stock prices. Currency traders try to take advantage of even small fluctuations in exchange rates.

In the foreign exchange market there is little or no 'inside information'. Exchange rate fluctuations are usually caused by actual monetary flows as well as anticipations on global macroeconomic conditions. Significant news is released publicly so, at least in theory, everyone in the world receives the same news at the same time.

Currencies are traded against one another. Each pair of currencies thus constitutes an individual product and is traditionally noted XXX/YYY, where YYY is the ISO 4217 international three-letter code of the currency into which the price of one unit of XXX currency is expressed. For instance, EUR/USD is the price of the euro expressed in US dollars, as in 1 euro = 1.2045 dollar.

Unlike stocks and futures exchange, foreign exchange is indeed an interbank, over-the-counter (OTC) market which means there is no single universal exchange for specific currency pair. The foreign exchange market operates 24 hours per day throughout the week between individuals with forex brokers, brokers with banks, and banks with banks. If the European session is ended the Asian session or US session will start, so all world currencies can be continually in trade. Traders can react to news when it breaks, rather than waiting for the market to open, as is the case with most other markets.

Average daily international foreign exchange trading volume was $1.9 trillion in April 2004 according to the BIS study.

Like any market there is a bid/offer spread (difference between buying price and selling price). On major currency crosses, the difference between the price at which a market maker will sell ("ask", or "offer") to a wholesale customer and the price at which the same market-maker will buy ("bid") from the same wholesale customer is minimal, usually only 1 or 2 pips. In the EUR/USD price of 1.4238 a pip would be the '8' at the end. So the bid/ask quote of EUR/USD might be 1.4238/1.4239.

This, of course, does not apply to retail customers. Most individual currency speculators will trade using a broker which will typically have a spread marked up to say 3-20 pips (so in our example 1.4237/1.4239 or 1.423/1.425). The broker will give their clients often huge amounts of margin, thereby facilitating clients spending more money on the bid/ask spread. The brokers are not regulated by the U.S. Securities and Exchange Commission (since they do not sell securities), so they are not bound by the same margin limits as stock brokerages. They do not typically charge margin interest, however since currency trades must be settled in 2 days, they will "resettle" open positions (again collecting the bid/ask spread).

Individual currency speculators can work during the day and trade in the evenings, taking advantage of the market's 24 hours long trading day.

Compiled using Wikipedia materials.

Why Trade the FOREX?

My purpose for writing this article is to demonstrate to you the advantages of trading on the Forex market. However, there is one myth that I want to dispel before I go further. The myth is that there is a difference between trading and investing. To dispel that myth I quote from Al Thomas, President of Williamsburg Investment Company, who wrote "If It Doesn't Go Up, Don't Buy It". He said "Everyone who invests is a trader, only the time period is different." It is a lesson that I took seriously after taking a beating in the stock market in 2000.

So now, let's compare features of currency trading to those of stock and commodity trading.

Liquidity — The Forex market is the most liquid financial market in the world around 1.9 trillion dollars traded everyday. The commodities market trades around 440 billion dollars a day, and the US stock market trades around 200 billion dollars a day. This ensures better trade execution and prevents market manipulation. It also ensures easily executable trading.

Trading Times — The Forex market is open 24 hours a day (except weekends) which means that in the US it opens at 3:00 pm Sunday (EST) and closes Friday at 5:00 (EST), allowing active traders to choose the times they want to trade. Commodities trading hours are all over the board depending on which commodity you are trading. Including extended trading times US stocks can be traded from 8:30 am to 6:30 pm (ET) on weekdays.

Leverage — Depending on your Forex account size, your leverage may be 100:1, although there are Forex brokers that offer leverage of up to 400:1 (not that I would ever recommend that kind of leverage). Leverage in the stock market can be as high as 4:1, and in the commodities market, leverage varies with the commodity traded but it can be quite high. Because the commodity markets are not as liquid as the Forex market, its leverage is inherently riskier. Although I was never shut out of a commodity trade by the day limit, the fear was always in the back of my mind.

Trading costs — Transaction costs in the Forex market is the difference between the buy and sell price of each currency pair. There are no brokerage fees. For both the stock and the commodity markets, there are transaction costs and brokerage fees. Even when you use discount brokers, those fees add up.

Minimum investment — You can open a Forex trading account for as little as $300.00. It took $5,000 for me to open my futures trading account.

Focus — 85% of all trading transactions are made on 7 major currencies. In the US stock market alone there are 40,000 stocks. There are just over 200 commodity markets, although quite a few are so illiquid that they are not traded except by hedgers. As you can see, the fewer number of instruments allows us to study each one more closely.

Trade execution — In the Forex market, trade execution is almost instantaneous. In both the equity and commodity markets, you count on a broker to execute your trades and their results are sometimes inconsistent.

While all of these features make trading the Forex market very attractive, it still requires a lot of education, discipline, commitment and patience. All trading can be risky.

by Susan Walker

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Forex Chart Patterns — EUR/CAD, AUD/USD, EUR/USD and USD/CHF

For this week I’ve found more than last two times on the chart pattern field. EUR/CAD, AUD/USD, EUR/USD and USD/CHF currency pairs show some good setups for those traders that know how to trade on the chart patterns (and there is nothing difficult in that at all). All patterns are still in the phase where entry into a position is still possible. Don’t forget to click the images to get the full-size screenshots of the charts.

1. EUR/CAD, Weekly, Falling Wedge:

2. AUD/USD, Daily, Descending Triangle:

3. EUR/USD, Daily, Symmetrical Triangles:

4. USD/CHF, Daily, Symmetrical Triangles:

If you have any questions or comments regarding these chart patterns, please, feel free to reply below.

source of news http://www.earnforex.com/blog/2009/07/forex-chart-patterns-eurcad-audusd-eurusd-and-usdchf/

May trade deficit unexpectedly drops to $26B

WASHINGTON – The U.S. trade deficit fell to the lowest level in more than nine years in May as exports posted a small gain while the weak American economy pushed imports down for a 10th straight month.

The slight rebound in exports, combined with a slower pace of decline in imports, showed that the nosedive in global activity may be starting to ebb. Delayed revivals overseas likely will hinder a rebound in the U.S., but most analysts still expect the American economy to grow a bit later this year.

The Commerce Department said Friday the deficit narrowed to $26 billion, a drop of 9.8 percent from April and the lowest level since November 1999. Economists expected the deficit to widen to $30.2 billion in May.

So far this year, the deficit is running at an annual rate of $350 billion, about half of the $695.9 billion deficit for all of 2008. Economists believe that trend will continue as weakness in the U.S. depresses demand for imported goods.

"I think this was a very positive report and consistent with the idea that the U.S. recession will come to an end in the next few months," said Mark Zandi, chief economist for Moody's Economy.com.

The dwindling deficit reflects the prolonged U.S. recession, which has sharply reduced American demand for imported goods. U.S. exports also are down from last year's peaks, hurting American manufacturers, but those declines have been smaller than the plunge in imports.

Sal Guatieri, a senior economist at BMO Capital Markets, said the much slower pace of decline in imports showed consumer spending may improve in the coming months. He'll be watching imports of appliances and clothing for early signs of a consumer rebound.

The politically sensitive deficit with China rose 4.4 percent to $17.5 billion in May, but is running 12.6 percent below the record pace of last year. The Chinese government reported earlier this week that its exports and imports fell again in June, but that the declines were less severe than in May, providing further evidence that the world's third-largest economy also was recovering from its slowdown.

America's deficit with Canada, its largest trading partner, dropped to $628 million, the smallest monthly imbalance in 15 years. The deficit with Japan shrank to $1.9 billion, the lowest deficit with that country in more than two decades.

Exports of goods and services rose 1.6 percent to $123.3 billion in May, reflecting increased sales of soybeans, corn and other farm products, along with higher exports of industrial machinery, generators and computers. But even with the May increase, U.S. exports are 25 percent below the record-high set in July 2008.

Imports edged down 0.6 percent to $149.3 billion, the 10th consecutive monthly decline. Imports are 34.9 percent below the all-time high set last July.

The May decline reflected a 3.4 percent drop in petroleum imports to $17.4 billion. The decrease reflected lower volumes as the average price of an imported barrel of crude oil rose to $51.21, from $46.60 in April.

Oil prices pushed above $70 per barrel last week only to retreat Friday to below $60 on renewed worries about global economic weakness.

Imports of foreign cars and auto parts dropped $238 million in May. Imports of civilian aircraft, computers and drilling equipment also dipped.

American manufacturers have been hurt by falling domestic demand and weakness overseas, as the recession that began in the U.S. has spread worldwide. Global weakness is expected to continue to depress export sales for American companies, including Caterpillar Inc., Deere & Co. and Boeing Co.

This week, the 186-nation International Monetary Fund released an updated economic forecast, predicting that the global economy will shrink 1.4 percent this year, the worst performance in the post-World War II period. That forecast was slightly worse than the 1.3 percent decline the IMF predicted in April.

The international lending agency did see prospects improving for next year with global growth forecast to climb to 2.5 percent, up from an April projection of a 1.9 percent increase.

(This version CORRECTS Corrects import total to $149.3 billion in graf 11. Moving on general news and financial services.)

Source of news http://news.yahoo.com

Forex Demo

A Forex demo shows you how Forex Currency Trading works before you start trading with real money.Before airplane pilots start flying on their own, they have to practice in simulators that re-create what flying will be like without taking any actual risks. Currency trading is as dangerous financially as flying is physically, so it makes sense to trade on demo first, too.A Forex demo is a good way to start. You can learn the basics by reading books and taking online courses can, but the best way to learn is by getting some hands-on experience. If you start with Forex, hands-on experience could mean losing lots of money, so a demo gives you real-world training with no actual money being involved. Usually, the demonstration comes courtesy of a brokerage that has an interest in giving you a free demo account.

They hope that once you have tested your skills on the demo, you will get into the trading with the real money and you will take advantage of the paid services the demo provider offers, like Forex signals, managed accounts, automated trading, etc.You should never pay for a demo. There a lots of brokers who offer free demo accounts, so it is absolutely not necessary to pay for it.When you sign up for a Forex demo, you will be given a username and password and shown how to use the demo system. Sometimes it involves downloading a piece of software unique to the company; other times it is simply done over the Internet.

You decide how much imaginary money you want to start with, and off you go!Forex demo allows you to trade as if it was with real trading. You can read the charts, follow the trends, visit online forums to get other traders' opinions, and make trades. The trades are recorded in the Forex demo only and don't go anywhere into the actual market since there's no real money involved. When the market changes, the program determines how much you'd have gained or lost based on the decisions you made. Once you have gained some expertise using the Forex demo, you can move on to the real thing and start making some real trades.
To learn more about Forex go to: http://currencytradingmethod.com