Most forex brokers do not charge commissions. GFT Forex Brokers, like other forex brokers, are compensated by revenues from their activities as currency dealers, including proceeds from buying, selling, converting and holding currencies, interest on deposited funds, and rollover fees.
Many may wonder how brokers work without commissions. The forex dealer is like a middleman. Let's consider the case of a bread middleman. He buys bread at a “wholesale” price and he sells it at a “retail” price. So if one is a baker, he can ask the middleman how much he would buy his bread for. Let's say the middleman quotes $1, so he's willing to pay $1 per loaf.
On the other side of the equation, let's say you just finished his last slice of bread, and you needs a new loaf. So you call up the local middleman, and ask him how much he's willing to sell you (a customer) a loaf of bread for. And he quotes the baker $1.25. That sounds reasonable, so you tell him to drop one off for you.
In this example, the bread middleman didn't charge you a commission to either the baker or you, the customer. Instead he bought at one price and sold at another. He will let you buy from him at $1.25, and let you sell to him at $1. So every time the baker has bread to sell, he checks the middleman's sell price. And when you want to buy a loaf of bread, you check the buy price.
In trading, this is known as the “bid” and “ask”. The bid is the price you can sell at, and the ask is the price you can buy at.
Considering forex broker commissions, the forex dealer will let the trader buy from him at 1.1971 and will let the trader sell to him at 1.1967. The difference 0.0004 is known as the spread. And this spread is where the forex “middleman” makes his money.
If the trader were to buy at 1.1971, then the instant the trader buys, he is “down” 0.0004, because if the trader wanted out of the trade, the best price he could sell it for is 1.1967. So as the forex dealer takes varying trades from people, each buying or selling, he can make money from this price gap. Each minimum increment, 0.0001 is referred to as a “pip”. So the spread in this example is 4 pips. In terms of dollars, for a forex contract of $100,000,
Monday, September 21, 2009
Tuesday, September 15, 2009
FOREX CURRENCY TRADING
FX, Forex or Foreign Exchange, is all about exchange of currencies from one hand to another at an ongoing price in the market. Forex is all about investing money in foreign currencies, just gain profit by selling at a higher price, the one you hold, just to buy another one at a lower price. Earlier, not many traders were clear about the Forex trading and that Forex is just short for "foreign exchange", as it did not get much publicity through media.
Foreign Exchange market is the biggest financial market in the world, with a potential of fast and great gains and a sizable number of investors. The advent of internet technology is what made Forex trading grow considerably popular as well as accessible with various types of investors
Foreign Exchange market is the biggest financial market in the world, with a potential of fast and great gains and a sizable number of investors. The advent of internet technology is what made Forex trading grow considerably popular as well as accessible with various types of investors
Monday, September 14, 2009
What is Forex Currency Trading?
The term 'Forex' or 'FX' is short for 'foreign exchange'. What is being exchanged on this market is not stocks or bonds, but currencies from around the world. In other words, the Forex market is the place where U.S. dollars, Euros, Yen and other major currencies are bought and sold. It represents the largest financial market in the world by volume. Starting with the simplest example of currency exchange that most people are familiar with is that of exchanging one currency for another when traveling overseas.
Sometimes you get more for every dollar you exchange than other times. You will notice that foreign exchange rates never remain the same and are constantly changing. This volatility in exchange rates can enable you to make a lot of money in the forex market with forex currency trading.
Sometimes you get more for every dollar you exchange than other times. You will notice that foreign exchange rates never remain the same and are constantly changing. This volatility in exchange rates can enable you to make a lot of money in the forex market with forex currency trading.
Forex Runner
Learn how to day trade the forex market and consistently nail $200, $300 or $400 trades over and over again. Forex Runner is simply one of the best day trading systems I have ever traded. And, being one of my unique PDFT strategies, you will not use any tools or indicators to trade it, the ONLY thing you will need is the price of the currency pair.Forex Runner let's you trade 100% emotion-free since it is completely mechanical. It's rules are incredibly easy to understand, it will not take you more than one hour to learn how to trade it.
One of the amazing characteristics of Forex Runner is that it let's you trade when ever you have time. Since the forex market is a 24 hour market, you have the luxury to decide exactly when it is best for you to put Forex Runner to work.
If you have been around for some time in the trading business you know how hard it is to find a consistently profitable day trading strategy. Forex Runner was built to be consistent. Small stop losses, large profit objectives and a large percentage of winning trades makes Forex Runner one of the top performing forex trading systems.Here are some of the many benefits Forex Runner traders have:A revolutionary Price Driven Forex Trading (PDFT) strategy.
You will not use any type of indicators, identify any vague patterns, or use support or resistance levels etc. You will only use the price of the currency pair to identify, enter and profit from the trade.You will learn how to exploit the daily range of the major currency pairs.How to enter "hit and run" trades; i.e. Identify fast, enter fast and profit fast!Fully disclosed system: no need to buy, rent or subscribe to any service. You control your trading, you decide when to trade, you decide how much to trade.
So easy to learn that most of my traders (many who are completely new to forex trading) put Forex Runner to work only 1 day after learning it.
No stress, no emotions: Since Forex Runner is 100% mechanical you will only follow strict rules to identify, enter and exit trades. No interpretation or judgment what so ever (if you trade already, you most likely know the value of 100% mechanical trading)!Cheat most daytradres! While 90% of traders will identify trades only after the market started moving (and trust me, most enter as the move is ending!), you will have already identified and entered trades BEFORE the market started moving.
Be your own boss, chose when to trade. Since the forex market is active 24 hours a day, no matter what part of the world you live in you can put Forex Runner to work for you!Profit objective is pre-set. This means you do not have to think and speculate where to place it. Once you enter the trade you will simply enter a "take profit" order and forget about it.
One of the amazing characteristics of Forex Runner is that it let's you trade when ever you have time. Since the forex market is a 24 hour market, you have the luxury to decide exactly when it is best for you to put Forex Runner to work.
If you have been around for some time in the trading business you know how hard it is to find a consistently profitable day trading strategy. Forex Runner was built to be consistent. Small stop losses, large profit objectives and a large percentage of winning trades makes Forex Runner one of the top performing forex trading systems.Here are some of the many benefits Forex Runner traders have:A revolutionary Price Driven Forex Trading (PDFT) strategy.
You will not use any type of indicators, identify any vague patterns, or use support or resistance levels etc. You will only use the price of the currency pair to identify, enter and profit from the trade.You will learn how to exploit the daily range of the major currency pairs.How to enter "hit and run" trades; i.e. Identify fast, enter fast and profit fast!Fully disclosed system: no need to buy, rent or subscribe to any service. You control your trading, you decide when to trade, you decide how much to trade.
So easy to learn that most of my traders (many who are completely new to forex trading) put Forex Runner to work only 1 day after learning it.
No stress, no emotions: Since Forex Runner is 100% mechanical you will only follow strict rules to identify, enter and exit trades. No interpretation or judgment what so ever (if you trade already, you most likely know the value of 100% mechanical trading)!Cheat most daytradres! While 90% of traders will identify trades only after the market started moving (and trust me, most enter as the move is ending!), you will have already identified and entered trades BEFORE the market started moving.
Be your own boss, chose when to trade. Since the forex market is active 24 hours a day, no matter what part of the world you live in you can put Forex Runner to work for you!Profit objective is pre-set. This means you do not have to think and speculate where to place it. Once you enter the trade you will simply enter a "take profit" order and forget about it.
Friday, September 11, 2009
What Is Day Trading? Forex
We often hear the term ‘day trading’ today but just what is day trading?
In very simple terms a day trader buys and sells with a very short investment horizon which is typically measured in minutes with trading positions being opened and closed within the same trading day. Day trading is particularly suited to high volume, volatile markets such as the Forex but is certainly not limited to currency trading. It is for example very commonly seen in the equity markets, although it tends to be seen on the more volatile exchanges such as the NASDAQ, rather than the NYSE or AMEX.
The principle is simply to spot an opportunity and then profit from it quickly getting in and out of the market with just enough time to make your profit and too little time to risk the market turning against you. For example, you might open a position at 11:00 am and close it out just a few minutes later at 11:07 am to take a small but quick profit and repeat this process as many as a hundred times in a single trading session.
Today this traditional definition has been widened somewhat and we now also refer to the practice of trading from home through an online broker as day trading. And, just to complicate matters, the term ’swing trading’ has also started to appear recently to refer to traders with a slightly longer investment horizon of anywhere from one to five days.
Day trading in its truest form (buying and selling with a very short investment horizon) is a risky business and is not something which you should try unless you know exactly what you are doing as, while it can be very profitable, it can also produce very large losses very quickly.
Although we talk about ‘investment horizons’ it also needs to be understood that day trading is not the same as investing and you will be working to very short time frames during which you will need to be glued to your computer screen jumping onto the wave of a trade as it gains momentum and the jumping off as it crests in order to ride the next wave. Spotting the waves as they roll in and knowing just when to jump on and jump off requires both skill and practice.
For those who enjoy the excitement of the roller coaster ride then day trading can be both exciting and profitable but it is not something for the novice forex trader and should only be contemplated once you have cut your teeth in the world of currency trading and gained a fair amount of experience.
In very simple terms a day trader buys and sells with a very short investment horizon which is typically measured in minutes with trading positions being opened and closed within the same trading day. Day trading is particularly suited to high volume, volatile markets such as the Forex but is certainly not limited to currency trading. It is for example very commonly seen in the equity markets, although it tends to be seen on the more volatile exchanges such as the NASDAQ, rather than the NYSE or AMEX.
The principle is simply to spot an opportunity and then profit from it quickly getting in and out of the market with just enough time to make your profit and too little time to risk the market turning against you. For example, you might open a position at 11:00 am and close it out just a few minutes later at 11:07 am to take a small but quick profit and repeat this process as many as a hundred times in a single trading session.
Today this traditional definition has been widened somewhat and we now also refer to the practice of trading from home through an online broker as day trading. And, just to complicate matters, the term ’swing trading’ has also started to appear recently to refer to traders with a slightly longer investment horizon of anywhere from one to five days.
Day trading in its truest form (buying and selling with a very short investment horizon) is a risky business and is not something which you should try unless you know exactly what you are doing as, while it can be very profitable, it can also produce very large losses very quickly.
Although we talk about ‘investment horizons’ it also needs to be understood that day trading is not the same as investing and you will be working to very short time frames during which you will need to be glued to your computer screen jumping onto the wave of a trade as it gains momentum and the jumping off as it crests in order to ride the next wave. Spotting the waves as they roll in and knowing just when to jump on and jump off requires both skill and practice.
For those who enjoy the excitement of the roller coaster ride then day trading can be both exciting and profitable but it is not something for the novice forex trader and should only be contemplated once you have cut your teeth in the world of currency trading and gained a fair amount of experience.
Wednesday, September 9, 2009
Trader’s Said “Down,” But Volatility Said “Not So ...
The U.S. Dollar Index yesterday touched its highest level in nearly three years. Not since April of 2006 have we seen the buck this strong versus this particular basket of currencies.
Somewhat disconcerting for dollar bulls, however, was the big reversal we saw play out over the course of the trading session yesterday. Not only did the buck finish well below its high point of the day, but it also closed lower than both the open and close of the previous two sessions.
Look at the candlestick chart of the U.S. dollar index below to help understand this:
Dollar Index Hits a Three-Year High
The three-bar pattern I’ve circled does not represent an official bearish reversal pattern – at least as far as general candlestick analysis goes. But the engulfing nature and timing of the third bar in that pattern is cause for attention.
Yesterday’s session alone showed a big time loss for dollar buyers. The sellers emerged strongest on the day. The buyers couldn’t hold the new highs. And they couldn’t hold the highs, closes or even the opens of the two prior sessions either. The sellers dominated the trading day.
This morning, on the other hand, the U.S. dollar is bouncing back relatively quickly. This strength isn’t entirely out of the ordinary, but it’s somewhat surprising considering the overly bearish session yesterday. Why haven’t traders running from the U.S. dollar?Why Aren’t Traders Running from the Buck?
Could be a lot of reasons ... really.
Could be the fact that currency traders are reacting to the risk environment (i.e. stocks are lower and thus pushing up the U.S. dollar).
It could be the fact that the Bank of England and European Central Bank reminded traders that global central banks are converging on Federal Reserve interest rates (i.e. BOE cut to a record low of 0.5%; ECB to 1.5%). It could be that the world is being pressured to “Go Green!”
But on top of all those things, there may have been a clue that today wouldn’t be destined to follow yesterday’s bearish footprints.
After yesterday, when price action was hinting at reversal, a colleague sent us a summary of yesterday’s FX at-the-market options’ volatilities.
Somewhat disconcerting for dollar bulls, however, was the big reversal we saw play out over the course of the trading session yesterday. Not only did the buck finish well below its high point of the day, but it also closed lower than both the open and close of the previous two sessions.
Look at the candlestick chart of the U.S. dollar index below to help understand this:
Dollar Index Hits a Three-Year High
The three-bar pattern I’ve circled does not represent an official bearish reversal pattern – at least as far as general candlestick analysis goes. But the engulfing nature and timing of the third bar in that pattern is cause for attention.
Yesterday’s session alone showed a big time loss for dollar buyers. The sellers emerged strongest on the day. The buyers couldn’t hold the new highs. And they couldn’t hold the highs, closes or even the opens of the two prior sessions either. The sellers dominated the trading day.
This morning, on the other hand, the U.S. dollar is bouncing back relatively quickly. This strength isn’t entirely out of the ordinary, but it’s somewhat surprising considering the overly bearish session yesterday. Why haven’t traders running from the U.S. dollar?Why Aren’t Traders Running from the Buck?
Could be a lot of reasons ... really.
Could be the fact that currency traders are reacting to the risk environment (i.e. stocks are lower and thus pushing up the U.S. dollar).
It could be the fact that the Bank of England and European Central Bank reminded traders that global central banks are converging on Federal Reserve interest rates (i.e. BOE cut to a record low of 0.5%; ECB to 1.5%). It could be that the world is being pressured to “Go Green!”
But on top of all those things, there may have been a clue that today wouldn’t be destined to follow yesterday’s bearish footprints.
After yesterday, when price action was hinting at reversal, a colleague sent us a summary of yesterday’s FX at-the-market options’ volatilities.
Tuesday, September 8, 2009
SigmaForex Reveals Factors Involved In Becoming A ...
These days everyone is talking about Forex trading and the great opportunity this activity represents for people willing to break free from the corporate world and start working from home or anywhere else without losing their current lifestyle and even improving it.Forex trading has changed dramatically in the last 10 years thanks to the technological advancements of the internet era. With real-time streaming technology and faster and more efficient computer systems, almost anything, from roses to FX trading, is available at the click of a button.Some of the great reasons why Forex trading is a great way of entering the capital markets is that your trades are all commission-free and it has a low transaction cost. All the best Forex brokers have these characteristics and even Mini FX traders (i.e., traders starting with accounts having a capital as low as $250), who are just starting in this field, can buy and sell currencies online always commission-free.But one thing is to start Forex trading and other very different is becoming a profitable Forex trader. In order to become a profitable trader the new trader will immediately discover the imperative need of having an accurate knowledge of the markets and a good understanding of the Forex technical indicators. Concepts as Moving Averages, Fibonacci levels, Bollinger Bands, etc; are the basic knowledge every trader must have.But having a good knowledge of these concepts is not everything you need. Fear is one of the worst enemies of the Forex trader. In order to become a profitable trader it is essential that the person involved in trading understands that he must leave fear aside and stick to the trading plan he has constructed and arranged before, always understanding that losing trades happen to everyone and they are always part of a profitable trading career. A Forex trader must learn how to profitable use his stops without heavily compromising the capital in his trading account, i.e., he must play safe but realizing that a calculated risk must be undertaken in order to maximize profits.In short knowledge is the key to a successful trading career but it also must go along the proper psychological preparation of the trader in order to be able to tame the markets and become a profitable trader.
Sunday, September 6, 2009
Overflow of information on forex… or, how to find ...
As you might noticed last update to my forex trading site was few months ago… But this is about to change, as I decided to update my forex blog at least once every week! In last months I was not siting idly, but was rather reading and educating myself in art of forex… Yes, I meant art… One of the surest thing I heard in last time with which I agree 100% is an old forex saying: "stairs up, elevators down…" … which references on your currency pair value of course .
Anyhow, I will spare you all the books and trainings I read, and will rather start fresh - from beginning. So in next post, I will cover the Forex basics - Forex 101. The total beginner's guide to Forex. No prerequisites necessary. I will cover everything, from what is forex, to basic strategies, currency pairs, trading itself, and will tell you what I believe is important to do before going to actual live trading for real money… Because, unlike stock trading, in Forex you can lose all, and even more!!! So while 99% of everyone who talks about Forex on line is "sponsored" by brokers, or some sort of forex product authors, they all talk about great benefits and possibilities. But while they are all true, the fact is that more than 90% of all forex rookies - first time traders - finish with empty portfolio, and maybe some debt if they do not use proper actions/safeguards. Therefore it is important to know what you are doing, before you start doing it Salvation is in education I would say.
As for myself I am still far from forex expert, or even intermediate level user, it might be easier for me to write about traps, and all the bumps I came across. I will be happy if you comment and communicate with me, no matter whether you are just beginning or you are experienced trader with years of experience.
At the end, let me tell you, that I still believe that forex is very interesting platform for investor, but there is more than meets the eye here, and you should at least be aware of it, if not know it before you enter Forex…
Anyhow, I will spare you all the books and trainings I read, and will rather start fresh - from beginning. So in next post, I will cover the Forex basics - Forex 101. The total beginner's guide to Forex. No prerequisites necessary. I will cover everything, from what is forex, to basic strategies, currency pairs, trading itself, and will tell you what I believe is important to do before going to actual live trading for real money… Because, unlike stock trading, in Forex you can lose all, and even more!!! So while 99% of everyone who talks about Forex on line is "sponsored" by brokers, or some sort of forex product authors, they all talk about great benefits and possibilities. But while they are all true, the fact is that more than 90% of all forex rookies - first time traders - finish with empty portfolio, and maybe some debt if they do not use proper actions/safeguards. Therefore it is important to know what you are doing, before you start doing it Salvation is in education I would say.
As for myself I am still far from forex expert, or even intermediate level user, it might be easier for me to write about traps, and all the bumps I came across. I will be happy if you comment and communicate with me, no matter whether you are just beginning or you are experienced trader with years of experience.
At the end, let me tell you, that I still believe that forex is very interesting platform for investor, but there is more than meets the eye here, and you should at least be aware of it, if not know it before you enter Forex…
Saturday, September 5, 2009
How Forex Traders Make big Money
Forex traders make up a unique group of investors who are willing to think outside of the box. They are a group of people who understand that with inherent risk comes the possibility for great reward. A person who has mastered the ability to balance that risk with wisdom and patience can make a substantial amount of money trading forex. One important key to success is having the ability to access the most current and the best forex trading information. The development of streaming data on the internet has made this access possible.Forex traders of all skill and experience levels are discovering the value of forex trading simulators. Nearly all of the major trading platforms now offer some sort of simulator that allows the investor to become a student and place forex trades with play money. These games, while fun, provide a valuable training ground where forex traders can try out new strategies and methods. The simulators allow them to track the success or failure of the trades that they have made. Even more important than the successful trades that they make in the simulator are the failures. This is a place where new forex traders can learn from their mistakes without suffering personal financial loss.
Friday, September 4, 2009
How to trust your forex setup?
For a successful start at forex, you have to trust and feel confident about yourself because you alone will be the cause of your success or failure in this business. No one has to go to college to know the ins and outs of trading. Everything needs practice including forex.
However, getting in this business with a lot of money and very little knowledge will lead you to a downfall, even if you try to recover in a few months after your first failure. On wrong move could be following a demo account. This type of “practice tool” can’t really be reliable especially for big players who use millions in trading.
However, getting in this business with a lot of money and very little knowledge will lead you to a downfall, even if you try to recover in a few months after your first failure. On wrong move could be following a demo account. This type of “practice tool” can’t really be reliable especially for big players who use millions in trading.
New Capital Requirement for Forex Brokers
When choosing forex boker, it is not all in pips, spreads, commissions and features, andforxe tradin hourse… Especially when you are opening a big account, it is all about asset protection and money management. Therefore you should always do what ever you can to protect your money. This includes choosing a respectable and well standing broker firm. US regulators proposed new net capital minimum requirements for forex brokers, which will probably become effective in next months. So it is wise to choose your broker with this in mind! In mid march cfct released latest net capital data of forex brokers:
Thursday, September 3, 2009
Forex Positioning in the Euro/US Dollar
EURUSD – Forex trading speculators recently began selling the euro against the US dollar, with a flip in the FXCM SSI signaling that short-term gains were likely. The forex trading crowd continues net-short the EURUSD, but increased indecisiveness means that positioning can and has flipped on an intraday basis. The ratio of long to short positions in the EURUSD stands at -1.07 as nearly 52% of traders are short, but open interest is a surprising 28.6 percent below its monthly average—underlining the level of fear across forex trading markets. Traders are unwilling to take on risk during difficult market conditions—especially as volatility reaches historic highs. All the same, the SSI is a contrarian signal and signals further EURUSD gains.
Wednesday, September 2, 2009
How Much Money Do I Need to Trade Forex?
It depends on the Forex dealer. Brokers concentrated in the Forex market can set their own minimum accounts and are allowed to set their own fees and rate schedules. You’ll need to ask your dealer how much money it’s going to cost you initially.Many dealers will require a security deposit (a “margin”) to cover future transaction fees. When you choose a broker, make sure that you look over the fees and schedules carefully before you deposit any money. It is important to understand your broker’s capabilities, as well, before handling any transactions through their firm.These are just a few basic facts about the Forex market to get you started. Trading foreign currencies can be an exhilarating experience when you’ve begun making money, but it is important to get an education before you start out. This website has a wealth of information for the new Forex trader, including tips and strategies. It is highly encouraged that you read up to explore the possibilities of trading in a worldwide environment.
Tuesday, September 1, 2009
How Can Foreign Currencies Be Traded?
Currency exchanges can be handled on three different levels. You will need to use a broker or a brokerage firm that allows trades through one of the following:
The Commodity Futures Trading Commission (CFTC)
Securities and Exchange Commission (SEC)
There is also what is called the off-exchange (over-the-counter) market. An example of this would be that you return from your vacation from Canada and trade your cash in for American dollars. This is only on a retail level or corporate level. Off-exchange trading is subject to very limited regulatory oversight.
The Commodity Futures Trading Commission (CFTC)
Securities and Exchange Commission (SEC)
There is also what is called the off-exchange (over-the-counter) market. An example of this would be that you return from your vacation from Canada and trade your cash in for American dollars. This is only on a retail level or corporate level. Off-exchange trading is subject to very limited regulatory oversight.
Monday, August 31, 2009
F9/Dragon Will Replace the Cargo Transport Functio...
NASA today announced its selection of the SpaceX Falcon 9 launch vehicle and Dragon spacecraft for the International Space Station (ISS) Cargo Resupply Services (CRS) contract award. The contract is for a guaranteed minimum of 20,000 kg to be carried to the International Space Station (ISS). The firm contracted value is $1.6 billion and NASA may elect to order additional missions for a cumulative total contract value of up to $3.1 billion.“The SpaceX team is honored to have been selected by NASA as the winner of the Cargo Resupply Services contract,” said Elon Musk, CEO and CTO, SpaceX. “This is a tremendous responsibility, given the swiftly approaching retirement of the Space Shuttle and the significant future needs of the Space Station. This also demonstrates the success of the NASA COTS program, which has opened a new era for NASA in US Commercial spaceflight.”Under the CRS contract, SpaceX will deliver pressurized and unpressurized cargo to the ISS, and return cargo back to Earth. Cargo may include both NASA and NASA-sponsored payloads requiring a pressurized or unpressurized environment. SpaceX will provide the necessary services, test hardware and software, and mission-specific elements to integrate cargo with the Dragon delivery capsule.In 2006, SpaceX was named a winner under NASA’s Commercial Orbital Transportation Services (COTS) competition. Under the existing COTS agreement, SpaceX will conduct the first flight of its Falcon 9 launch vehicle and Dragon spacecraft in 2009. The final flight, currently scheduled for 2010, will demonstrate Dragon’s ability to berth with the ISS.Falcon 9 flight hardware has already started to arrive at the SpaceX launch site, Space Launch Complex 40 (SLC-40) at Cape Canaveral, in preparation for Falcon 9 going vertical on the pad within a few weeks. Construction of the SLC-40 launch site is proceeding ahead of schedule and is estimated to be completed in early 2009.
A New Type of Investment: Forex Trading
Every new investor thinks of the stock market as the first place to invest. The reasons are undeniable, as the stock market is one of the most successful investments. However, few investors know of a new, emerging type of investment that carries much less risk then the physical stock market. This new investment area is known as the Forex Trading market.The Forex trading market cannot actually be found physically. Instead, the market is a large network of central banks and individual investors all caught up in the process of currency exchange. Because the Forex market deals with countries all over the world, the market must remain open 24 hours a day. The market follows the three markets, the United States of America, Europe, and Asia.This presents a problem to even the more successful investors. It is simply not possible for any human being to stay up 24 hours a day so that they have up to date information of the market. Often the market changes will the investor sleeps or goes about their daily routines. If statistics are not checked often, opportunities to gain profits may be lost. The alternative may be to hire a professional broker, or use a trading program.
Sunday, August 30, 2009
Fed Cuts to Mark Pre-Xmas Trading
Investors head into what for many will be the last full trading week of the year expecting more stimulative U.S. interest rate cuts but rattled by emerging dissent over how governments should boost ailing economies.The price of oil, meanwhile, is likely to be in particular focus with oil-producing nations meeting to discuss supply cuts at a time when lower prices are one of the few areas of easing pressure on monetary authorities.Investors needed no new stress after a year which has seen the global banking model break down, the value of stocks halve, lending freeze up and volatility soar, but the new wrinkle is squabbling among authorities about how to proceed."The problem is that when you have politics involved ... you get a lot of back and forth. It's not like when you watch economic data," said Michala Marcussen, strategy director at Societe Generale Asset Management.Failure by U.S. lawmakers last week to agree a bail out for America's top automakers was a shock to the system for investors who have become used to governments and central banks pledging to do what it takes to build confidence and flood the global economy with money.There was a similar U.S. Congress impasse over a financial bailout package earlier in the year, which ended in a compromise. But the latest fight means there will be no automaker bailout passed this year.
Information And Tips on Forex Markets Worldwide
Forex is also considered by the name foreign market exchange or FX. Those people and business organizations dealing in the foreign markets are normally the largest, most wealthy business organizations and banks from around the world. Their transactions include multiple monies from various countries to produce that balance between those who will gain and those who fall down. The basics of forex are similar to that of most countries, but on a much larger, grander scale. Forex trading involves individuals, monies and transactions from all across the globe in just about any country.
The rates of currency are constantly shifting so what the value of the dollar may be one day could be shifted the next. The trading on the forex market is one that you have to watch closely or if you are investing huge amounts of money, you could be risking all of it. The prime hubs for forex trading are in Tokyo London, and New York and in many other hub spots around the globe.
The types of currency that are commonly traded are the Swiss franc, the Australian dollar, the British pound, the United States dollar, the Eurozone euro and the Japanese yen. You can cross-trade currencies as well as mixing the trades between currencies to acquire extra money and daily interest.
The times when forex exchange will open at a certain time and then close while other markets are opening. The same variations can be seen in the global markets as some time zones are actioning transactions and trading during different time frames. The results of any forex trading in one country could have results and differences in what happens in additional forex markets as nations run on alternate time zones. Rates of exchange will be different from a forex exchange to another, and brokers and day traders alike will want to know what the rates are on a given day before making any trades.
The rates of currency are constantly shifting so what the value of the dollar may be one day could be shifted the next. The trading on the forex market is one that you have to watch closely or if you are investing huge amounts of money, you could be risking all of it. The prime hubs for forex trading are in Tokyo London, and New York and in many other hub spots around the globe.
The types of currency that are commonly traded are the Swiss franc, the Australian dollar, the British pound, the United States dollar, the Eurozone euro and the Japanese yen. You can cross-trade currencies as well as mixing the trades between currencies to acquire extra money and daily interest.
The times when forex exchange will open at a certain time and then close while other markets are opening. The same variations can be seen in the global markets as some time zones are actioning transactions and trading during different time frames. The results of any forex trading in one country could have results and differences in what happens in additional forex markets as nations run on alternate time zones. Rates of exchange will be different from a forex exchange to another, and brokers and day traders alike will want to know what the rates are on a given day before making any trades.
Saturday, August 29, 2009
Forex Trading Education Articles
Before you take a look at this website that I found, remember to keep an open mind and to not believe everything that you read. The site that I found has a decent list of articles that relate to forex trading education, and it is safe to say that most of the information is valid. However, in this game it is important to do extensive research so that you can make smart decisions with your money. Once you find that certain information is consistent, then you can start to put a little more faith into it.Some of these articles break down forex trading to its basics, while others put more emphasis on certain parts of the game. For example, there are at least three articles that are considered "quick forex guides" while there are some other articles that explain specifics such as choosing a broker, swing trading strategies, mapping time frames, and more.The articles located at this website are great for beginners who have not yet invested any money into the forex market, but would like to educate themselves first. Most veteran traders will already be familiar with the strategies presented in these articles but it still cannot hurt to take a look at them. Visit www.solerinvestments.com/Online-Trading/Currency-Trading-Education.htm and begin the learning process.
Friday, August 28, 2009
Basic Things To Know About Forex Options
Occasionally I will post some things that are intended for those who are getting started in Forex trading, because there are plenty of beginners out there who still need to know the basics.Over at investopedia.com there is a very informative article that will help clarify the difference between traditional forex options and alternative options. The main advantage of trading options is that they limit the amount of risk that one takes and increase the potential for profit.The first type, which is call/put, is an option that gives the buyer the opportunity to purchase with no obligation whatsoever. The only risk involved with this type of option is the loss of the premium (in the case that the forex value drops below the original price).The other type, which is SPOT (single payment options trading), works a little differently. In this case, a trader will create a scenario where a certain currency value will change in a certain amount of time. If the scenario successfully takes place, then the forex option is automatically changed into a cash payout.Check out the article by visiting www.investopedia.com/articles/trading/04/101304.asp. Options are a great way to play the game without risking your entire savings, so be sure to do your research and start enjoying forex options with your fellow traders.
What Is The Forex Investment Association?
There is an important regulatory group that you may want to know about if you
are going to start playing the forex market.The Forex Investment Association is
an organization specifically for those who invest in and play the forex market.
It is a not-for-profit group and it is self-regulating. It is also recognized as
a representative body with carefully considered privileges from the FSB, or the
Financial Services Board. The Forex Investment Association works with the
Financial Services Board in order to properly register and provide licenses to
service providers who have a position in the forex industry.Their basic goal is
to provide an environment where traders can enter the market safely and invest
their money without risk. They also strive to have advisors who are
knowledgeable in their field as well as experienced traders who can help
maintain a stable market.The FIA welcomes new members and invites people to
register with them but unfortunately their website is not capable of doing so
yet. Visit www.forex.org.za to read more about the FIA, and check the site
periodically until they have updated their registration pages.
are going to start playing the forex market.The Forex Investment Association is
an organization specifically for those who invest in and play the forex market.
It is a not-for-profit group and it is self-regulating. It is also recognized as
a representative body with carefully considered privileges from the FSB, or the
Financial Services Board. The Forex Investment Association works with the
Financial Services Board in order to properly register and provide licenses to
service providers who have a position in the forex industry.Their basic goal is
to provide an environment where traders can enter the market safely and invest
their money without risk. They also strive to have advisors who are
knowledgeable in their field as well as experienced traders who can help
maintain a stable market.The FIA welcomes new members and invites people to
register with them but unfortunately their website is not capable of doing so
yet. Visit www.forex.org.za to read more about the FIA, and check the site
periodically until they have updated their registration pages.
Forex Market News: U.S. Dollar Showing A Little St
United States currency boosted a little bit next to other big currencies in Syndey during morning trade today after its overnight drop. Not to mention, this rise occurred despite the Dow dropping almost two percent due to some uneasy issues regarding financial markets & credit.However, the dollar is still weak next to the euro, yen and sterling while the Industrial Average for the Dow Jones decreased by 237.44 points. Unfortunately, this is a result of some not-so-good news coming from Citigroup and HSBC Holdings. Citigroup Inc. is apparently looking at some major losses in regards to credit in the fourth quarter of this fiscal year and as a result there might be a handful of lay-off's that could follow.If you wish to look at things in a more positive light, then keep in mind that early this morning one greenback was buying 107.43 yen, in contrast to last night's New York trade value of 107.32 yen."A drop in U.S. equity markets late in the afternoon prompted a mass liquidation of yen carry trades, knocking all primary crosses lower, and taking US dollar/yen down to fresh session lows into the close," mentioned Peter Whitley. Whitley is an analyst at Thomson International Financial Review.Plenty of tourists are coming across the Atlantic and spending their much-valued Euros around New York City and other surrounding metropolitan areas. This can be great for business-owners and retailers in the United States, but what kind of effect do you think this will have on the forex market in the long run?
Information About Choosing Forex Software
If you are going to jump into the online Forex trading game then make sure that you have software that will not let you down. It is important to have a platform that gives you correct information about prices and makes Foreign exchange trades fast and with ease. The 2 types of Forex software that are available are those that are web-based and those that are client-based.Also be sure that you have a fast Internet connection because this market moves pretty quickly. If you are using a dial-up connection and want to do online forex trading, then think again.Client-based software is just as good as any other but it can only be accessed on the computer that you install it to. The advantage of using web-based software is that you can use it on any computer with the simplicity of logging onto a server. This type of software is also more secure and is less likely to acquire viruses.Always be certain that the software you choose provides quotes in real time and that it has the capability of buying and selling with speed. Also be sure that your software is always up-to-date, because even the smallest change in the program can make a difference in how well you trade.It is recommended that beginners first learn the market and take small risks to become familiar with it. Once you are certain that you want to play the game, then find the software that is right for you and start to get serious. Always remember that it takes money to make money, so do not enter the market with hesitant feelings.
Forex Trading - what problems ?
I decided to write this squidoo lens because I have seen far too many people who are desperately trying to make money from forex trading , fail miserably , and I thought that maybe this could help some newbies who are coming onto the forex world for the first time thinking it's easily done.I recommend that we cast aside the dream about "financial freedom" first.Let's review the key factors as to why majority of the people did not fulfill this dream in the first place :Here are my analysis of the situation :
many people jump into this market without preparation.
most people will not even bother to educate themselves before investing , because they think this is an easy game.
There are far too many "gurus" out there who plain tell lies, and it's a sad fact that there are only a handful of people trying to trade forex using the power of the internet , who do actually make it a full time living.
Forex trading is not as simple as it sounds. It involves trading psychology - other than just technical and fundamental analysis. Trading psychology is where most people took for granted , and this is where most people fail ...
Forex trading needs skill. Skill comes only after sufficient practice with paper trading. Most people jump straight into live trading , and eventually suffer losses.
many people jump into this market without preparation.
most people will not even bother to educate themselves before investing , because they think this is an easy game.
There are far too many "gurus" out there who plain tell lies, and it's a sad fact that there are only a handful of people trying to trade forex using the power of the internet , who do actually make it a full time living.
Forex trading is not as simple as it sounds. It involves trading psychology - other than just technical and fundamental analysis. Trading psychology is where most people took for granted , and this is where most people fail ...
Forex trading needs skill. Skill comes only after sufficient practice with paper trading. Most people jump straight into live trading , and eventually suffer losses.
Thursday, August 27, 2009
Forex Trading - key considerations
I am a non guru ( read my bio ) and by no means I am in a position to give any professional advice.It is only my pleasure to share with all lens reader here regarding my tough trading journey before I achieve trading success.The followings are my list of recommendations before you consider taking up forex trading :
Ask yourself if you really have the time , passion , and commitment to make forex trading a profession. Do not jump into it just because you are hearing people making lots of money in this area.
Check if you can set aside some funds to get proper education in forex trading. This is one of the most important requirement. It is crucial that you invest in education before you invest in the market.
You next need some capital that you can afford to lose , without impacting your personal life. In the beginning stage you may not attain consistency in trading results yet , so having sufficient capital to start off with is very crucial so as to avoid unnecessary stress during trading.
Ask yourself if you really have the time , passion , and commitment to make forex trading a profession. Do not jump into it just because you are hearing people making lots of money in this area.
Check if you can set aside some funds to get proper education in forex trading. This is one of the most important requirement. It is crucial that you invest in education before you invest in the market.
You next need some capital that you can afford to lose , without impacting your personal life. In the beginning stage you may not attain consistency in trading results yet , so having sufficient capital to start off with is very crucial so as to avoid unnecessary stress during trading.
Wednesday, August 26, 2009
Tips From A Professional Forex Trader
1.Trade only with the money you can afford to lose. Never trade emotionally or when stressed over debt.
2.Start with a Demo Forex account to get practice in the executions and the different software functions necessary to ensure smooth trading.
3.The forex market is not a casino or a lottery! You should never depend on luck, but on sound investment strategies.
4.Analyze both your successes and failures. Keep a dairy of all your transactions. Review it often and learn from your mistakes.
5.Adopt a very strict policy on the limit of losses you are prepared to accept from a trade. These limits should be between 3-10% of the balance of your account.
6.Mistakes and losses are common and necessary when trading in any market. The sooner you learn to how and why you lose, the faster you will be able to earn money. Do not you blame yourself or others, and even less the market.
7.The main enemy of trader is not the market. Accusing the market is like attacking the world. The biggest enemies of traders are greed, impatience, loss of emotional control and lack of self-confidence.
8.Read the opinions of others, but base your decisions solely on your own analysis and your educated feeling of the market.
9.Always follow this immutable rule: Cut your losses as soon as possible and keep your winning positions as long as possible.
10.Try to work with your demo account as if it was your real account. The more quickly you’re convinced that trading on your demo account is equivalent to trading on the real account, the sooner you begin to develop your own technical trading techniques. You must have the same attitude when you work with your demo account that when you’re on your real account, because the techniques that you use at this point are identical to the ones you will use on the real account. Do not think you learn how to be a trader by entering competitions with demo versions. You must enter a competition only after developing your own trading strategies.
2.Start with a Demo Forex account to get practice in the executions and the different software functions necessary to ensure smooth trading.
3.The forex market is not a casino or a lottery! You should never depend on luck, but on sound investment strategies.
4.Analyze both your successes and failures. Keep a dairy of all your transactions. Review it often and learn from your mistakes.
5.Adopt a very strict policy on the limit of losses you are prepared to accept from a trade. These limits should be between 3-10% of the balance of your account.
6.Mistakes and losses are common and necessary when trading in any market. The sooner you learn to how and why you lose, the faster you will be able to earn money. Do not you blame yourself or others, and even less the market.
7.The main enemy of trader is not the market. Accusing the market is like attacking the world. The biggest enemies of traders are greed, impatience, loss of emotional control and lack of self-confidence.
8.Read the opinions of others, but base your decisions solely on your own analysis and your educated feeling of the market.
9.Always follow this immutable rule: Cut your losses as soon as possible and keep your winning positions as long as possible.
10.Try to work with your demo account as if it was your real account. The more quickly you’re convinced that trading on your demo account is equivalent to trading on the real account, the sooner you begin to develop your own technical trading techniques. You must have the same attitude when you work with your demo account that when you’re on your real account, because the techniques that you use at this point are identical to the ones you will use on the real account. Do not think you learn how to be a trader by entering competitions with demo versions. You must enter a competition only after developing your own trading strategies.
Forex Trading System
This is the system that I am currently using to trade forex successfully ...My opinion : No matter what seminars or what learning courses you may sign up for , eventually you still need a Mentor to succeed. This is like "hands holding" .. and trust me - it really short cut a lot of time and effort in your learning process.Next you need a Mastermind Team to keep going ..This team may be your fellow traders or classmates. Idea is to exchange failure or success stories , so as to take action to improve.
Currency Trading
The currency market is one of the most popular markets for speculation due to the enormous size of currency trading and liquidity. Any currency has a value relative to all other currencies in the world.
Currency trading has many real benefits over equity trading like the stock market. There are two reasons the relative value of a currency fluctuates. The first is as outside investors or visitors buy things within a country, they are driven to convert their domestic currency into the currency of the country they are buying within. The second force for currency fluctuation is speculation. This speculation can have extreme consequences on a nation’s currency and consequently on a country’s economy.
Trading
If you do not have experience in the field of currency trading, you need to at least have knowledge. The attraction to the currency trading market has led many people to look for currency trading courses. These types of course can help prepare you for the exciting world of currency trading. For a deposit of just $2,000 an investor can leverage $100,000 worth of foreign currency or $50 leverage for every $1 invested. The heavy buying and selling in the currency market can drastically impact the value of the currency itself. Trading currency allows traders to earn profits during rising and falling markets. Unlike stocks, there are no restrictions on short selling in foreign currency trading. The “ask” is the price at which a market maker will sell the base currency in exchange for the counter currency in which you can buy. The “bid” is the price at which a market maker is willing to buy the base currency in exchange for the counter currency in which you can sell. The spread is how the market maker and the introducing broker are compensated for their work. The spreads for currency trading are extremely low, making the cost to a trader very low as well. One of the most important differentials in currency trading is timing. As traders feel a given currency will perform strongly or weakly, they will buy or sell accordingly. However, most traders agree that the currency market is no place for beginners. An individual has to take into consideration technical and fundamental data and make an informed decision based on his perception of trading market sentiments and market expectations to become a profitable trader. Every trader has to be aware of the events going on in the market, and also has to understand the subtleties of the market to safely trade.
Currency trading has many real benefits over equity trading like the stock market. There are two reasons the relative value of a currency fluctuates. The first is as outside investors or visitors buy things within a country, they are driven to convert their domestic currency into the currency of the country they are buying within. The second force for currency fluctuation is speculation. This speculation can have extreme consequences on a nation’s currency and consequently on a country’s economy.
Trading
If you do not have experience in the field of currency trading, you need to at least have knowledge. The attraction to the currency trading market has led many people to look for currency trading courses. These types of course can help prepare you for the exciting world of currency trading. For a deposit of just $2,000 an investor can leverage $100,000 worth of foreign currency or $50 leverage for every $1 invested. The heavy buying and selling in the currency market can drastically impact the value of the currency itself. Trading currency allows traders to earn profits during rising and falling markets. Unlike stocks, there are no restrictions on short selling in foreign currency trading. The “ask” is the price at which a market maker will sell the base currency in exchange for the counter currency in which you can buy. The “bid” is the price at which a market maker is willing to buy the base currency in exchange for the counter currency in which you can sell. The spread is how the market maker and the introducing broker are compensated for their work. The spreads for currency trading are extremely low, making the cost to a trader very low as well. One of the most important differentials in currency trading is timing. As traders feel a given currency will perform strongly or weakly, they will buy or sell accordingly. However, most traders agree that the currency market is no place for beginners. An individual has to take into consideration technical and fundamental data and make an informed decision based on his perception of trading market sentiments and market expectations to become a profitable trader. Every trader has to be aware of the events going on in the market, and also has to understand the subtleties of the market to safely trade.
Success in Forex trading: A training course could
If you are constantly surfing the net for the right Forex strategy and do not know which training course to attend to get the best hands-down knowledge abut this business, you are reading the right article for finding the right answers. The first step to get started with Forex trading is to decide on the amount of investing money and then decide on the most cost-effective training program to help you get started.
For people who are in a hurry, online trading training courses could be of help. The next step is to practice the lessons by opening a demo account and trading with virtual money, till you master the art.
There are also home trading courses which offer full customer support. For instance, the Forex Profit is such a trading manual where an specialist and his team can offer support up to 1 year. They help you open demo as well as live accounts.
For people who are in a hurry, online trading training courses could be of help. The next step is to practice the lessons by opening a demo account and trading with virtual money, till you master the art.
There are also home trading courses which offer full customer support. For instance, the Forex Profit is such a trading manual where an specialist and his team can offer support up to 1 year. They help you open demo as well as live accounts.
The Key To Automatic Forex Trading System
Automatic forex system trading is a really sophisticated and complicated piece of software. It is a simple, yet effect system used to trade foreign currency. What it does is it trades the spot foreign currency market with a computerized automated trading system that enters orders for you. Forex trader’s now have a lot of different automated trading programs to put this attitude to work for them.
Automatic forex system trading is good for those who have the patience and perseverance to work it out on their own. Sometimes you just need a forex trading mentor to help you improve the “soft skills” of trading. There are a lot of skeptics out there who believe that forex trading is too big of a risk. It just so happens that with automatic forex system trading, the risk is cut down. I also believe that investing in any other way besides using an automatic forex system trading involves a lot of risk. You simply set up your preferences in the system’s settings and put it on auto-pilot.
Automatic forex system trading is good for those who have the patience and perseverance to work it out on their own. Sometimes you just need a forex trading mentor to help you improve the “soft skills” of trading. There are a lot of skeptics out there who believe that forex trading is too big of a risk. It just so happens that with automatic forex system trading, the risk is cut down. I also believe that investing in any other way besides using an automatic forex system trading involves a lot of risk. You simply set up your preferences in the system’s settings and put it on auto-pilot.
Tuesday, August 25, 2009
Foreign exchange trading Principles ForexGen
Foreign exchangetrading has been growing rapidly among day traders since the 1990s, asday traders have seen the advantages that trading currencies can haveover trading stocks. However, since there are fewer currencies forbeginners to purchase over the large number of stocks available, FXtrading can be much more difficult for a newcomer to learn and master.Still, there are some basic principles that someone new to foreignexchange trading should learn, and these concepts may even be helpfulto the experienced trader.The first principle of FX trading is to understand that trading is aninvestment, not an income. If you are looking to constantly boom in Foreign exchangetrading, then you may need to do a reassessment. FX trading, like otherforms of trading, allows you to make a good return on your initialcapital annually. However, during that year you need to expect some upsand downs in your foreign exchange trading. You could even have severalmonths where you have consecutive losses. It is probably in your bestinterest to have another source of income while you do FX trading.Another area where beginners sometimes find themselves frustrated isthat they try to predict the foreign exchange trading markets.Thousands of traders have influence over the FX trading markets, alongwith politics and economic events, so there is no way to predict whichway the market will move. There are some types of analysis that mayprovide an educated guess into market flow when doing FX trading,but they are not always reliable. Do not be discouraged, though, by thefact that you may lose on more trades that you gain on, as using soundmoney management can help you be successful with foreign exchangetrading.Making money from FX trading means that you need to make enough tocover your losses and gain profit to increase capital. When FX trading,you will need to allow your money-making trades ride while knowing whento cut your losses as soon as possible. foreign exchange trading meanslearning some finesse, as there can be a fine line where you will wantto wait a little for the market to turn in your favor on your losingtrades and also making sure you do not take your profit to soon on yourbetter trades.One way to handle your FX trading is to use a tested system and a money management strategy.There is no room for emotion when foreign exchange trading, so you willneed to use a business-like approach that has been tested on marketdata. Using a tested approach will save you a lot of stress whenforeign exchange trading. Also, using a sound money management strategywill allow you to use your capital in the best way when FX trading sothat you can maximize profit and avoid major losses.
Monday, August 24, 2009
FOREX PREMIUM ACCOUNT
Premium and special traders have their own way in handling their trade, and thus their offer is meant to be special too. ForexGen premium Accounts are created for Forex traders interested in trading on huge amounts and are able to make profits as well.For the sake of those money hankers, ForexGen donates them with sui generis offer non-existed anywhere else. For Premium traders, they can open ForexGen Premium accounts with $50.000 instead of $100.000. Adding to this, ForexGen has enabled Premium traders with dealing desk enabled and scalping options, features that make ForexGen distinguished among others.
Fx News - ECB cuts interest rate. US Jobless Claim
The European Central Bank cut its interest rate today by 25 basis points to mark a new all-time low rate level for the eurozone. Today’s rate reduction was less than the 50 basis point cut economic forecasts were generally expecting and brought
the rate from 1.50 percent to 1.25 percent. The ECB now has reduced its rate by 300 basis points since October 8th when it participated in coordinated rate reductions with central banks around the world.
Jean-Claude Trichet, the President of the ECB, commented in his press conference today that “today’s decision takes into account the expectation that price pressures will remain subdued, reflecting the substantial past fall in commodity prices and the marked weakening of economic activity in the euro area and globally. The latest economic data and survey information confirm that the world economy, including the euro area, is undergoing a severe downturn. Both global and euro area demand are likely to remain very weak over 2009, before gradually recovering in the course of 2010.”
Trichet also did not rule out further rate reductions and that any “nonstandard” bank measures implemented would be discussed at the next rate meeting in May.US Weekly Jobless Claims rise to highest since early 1980’s.
Weekly U.S. initial jobless claims rose more than expected in the week that ended on March 28th according to the U.S. Labor Department today. Jobless claims totaled 669,000 unemployed workers, an increase of 12,000 from the week prior that had 657,000 initial jobless claims. The jobless increase marked the highest level since 1982 and surpassed forecasts expecting claims to number approximately 650,000. A 4-week moving average of unemployed workers showed an increase of 6,500 from the prior week to 656,750 workers.
Meanwhile, workers seeking continued claims for unemployment benefits for the week ending March 21st grew by 161,000 workers to a total of 5,728,000 unemployed workers. The four week moving average of continuing claims grew by 163,500 workers from the previous week to 5,496,500 workers.
US Dollar falling in forex trading today.
The U.S. dollar has been falling in forex trading today against the major currencies as stock markets have rallied on positive sentiment of the G20 meetings and new flexibility in mark-to-market rules. The Dow Jones Industrial Average has gained by over 250 points at time of writing to pass the 8,000 threshold. The Nasdaq has gained by 50 points while the S&P500 has advanced over 25 points.
The euro has advanced versus the dollar for the second day in a row as the EUR/USD has gone from today’s 1.3272 opening exchange rate at 00:00 GMT to trading at approximately 1.3476 in the US trading session at 1:39pm EST according to currency data by Oanda.
The British pound has increased today versus the American currency as the GBP/USD has gone from 1.4494 to trading at 1.4722 dollars per pound.The USD has declined against the Swiss franc with the USD/CHF falling from the 1.1439 opening to trading at 1.1334. The dollar has also decreased against the Canadian dollar as the USD/CAD dropped from the opening at 1.2549 earlier today to trading at 1.2371 later.
The Australian dollar has traded higher versus the USD as the AUD/USD trades at 0.7168 after opening today at 0.7026 while the New Zealand dollar has gained versus the USD and trades at 0.5806 after opening at 0.5678.
The dollar has advanced against the Japanese yen today as the USD/JPY has gained from its 98.72 opening to trading at 99.33.
the rate from 1.50 percent to 1.25 percent. The ECB now has reduced its rate by 300 basis points since October 8th when it participated in coordinated rate reductions with central banks around the world.
Jean-Claude Trichet, the President of the ECB, commented in his press conference today that “today’s decision takes into account the expectation that price pressures will remain subdued, reflecting the substantial past fall in commodity prices and the marked weakening of economic activity in the euro area and globally. The latest economic data and survey information confirm that the world economy, including the euro area, is undergoing a severe downturn. Both global and euro area demand are likely to remain very weak over 2009, before gradually recovering in the course of 2010.”
Trichet also did not rule out further rate reductions and that any “nonstandard” bank measures implemented would be discussed at the next rate meeting in May.US Weekly Jobless Claims rise to highest since early 1980’s.
Weekly U.S. initial jobless claims rose more than expected in the week that ended on March 28th according to the U.S. Labor Department today. Jobless claims totaled 669,000 unemployed workers, an increase of 12,000 from the week prior that had 657,000 initial jobless claims. The jobless increase marked the highest level since 1982 and surpassed forecasts expecting claims to number approximately 650,000. A 4-week moving average of unemployed workers showed an increase of 6,500 from the prior week to 656,750 workers.
Meanwhile, workers seeking continued claims for unemployment benefits for the week ending March 21st grew by 161,000 workers to a total of 5,728,000 unemployed workers. The four week moving average of continuing claims grew by 163,500 workers from the previous week to 5,496,500 workers.
US Dollar falling in forex trading today.
The U.S. dollar has been falling in forex trading today against the major currencies as stock markets have rallied on positive sentiment of the G20 meetings and new flexibility in mark-to-market rules. The Dow Jones Industrial Average has gained by over 250 points at time of writing to pass the 8,000 threshold. The Nasdaq has gained by 50 points while the S&P500 has advanced over 25 points.
The euro has advanced versus the dollar for the second day in a row as the EUR/USD has gone from today’s 1.3272 opening exchange rate at 00:00 GMT to trading at approximately 1.3476 in the US trading session at 1:39pm EST according to currency data by Oanda.
The British pound has increased today versus the American currency as the GBP/USD has gone from 1.4494 to trading at 1.4722 dollars per pound.The USD has declined against the Swiss franc with the USD/CHF falling from the 1.1439 opening to trading at 1.1334. The dollar has also decreased against the Canadian dollar as the USD/CAD dropped from the opening at 1.2549 earlier today to trading at 1.2371 later.
The Australian dollar has traded higher versus the USD as the AUD/USD trades at 0.7168 after opening today at 0.7026 while the New Zealand dollar has gained versus the USD and trades at 0.5806 after opening at 0.5678.
The dollar has advanced against the Japanese yen today as the USD/JPY has gained from its 98.72 opening to trading at 99.33.
Introduction to Trading Forex
This short introduction explain the basics of trading forex,brief explanation of the markets and the major benefits of trading forex online. There are two scenarios describing the implications of trading in the a bear as well as a bull market to better acquaint you with some of the risk and opportunities of th largest and most liquid market in the world.
As an additional aid for those who are new to forex,there is also a glossary at the button of this text which explain some of the terms used in connection with currency trading.
As an additional aid for those who are new to forex,there is also a glossary at the button of this text which explain some of the terms used in connection with currency trading.
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