Do-It-Yourself Forex Trading

How To Profit With Forex Online Currency Trading

2008-01-06T11:55:00.000+08:00

Lets first get to the introduction of forex. FOREX is an international online currency exchange that was established in 1971. It is now the premier foreign currency exchange market in the world, with an average daily trading volume reaching as high as one and a half trillion. Three types of traders make use of FOREX-banks, individuals, and corporations. When they have needed to exchange currency online, FOREX Online Currency Trading is the number one place to do it.

Mostly people think that why should they do online currency trading with FOREX? The answer is that there are two basic reasons to do your online currency trading with FOREX. First and foremost, FOREX online currency trading is done to make a profit. Depending on the market, a bank, corporation, or individual can make a windfall profit through FOREX online currency trading. Another reason to do currency trading is to get into a secured position by eliminating trading risks arising from foreign exchange rate movement. In other words, FOREX online currency trading can help a bank, corporation, or individual to weather changes in foreign exchange rates by already having the foreign currency they need on hand.

FOREX is unique in terms of trading exchanges. Rather than the typical exchange like Wall Street or the Tokyo Exchange, FOREX is an entirely digital foreign currency exchange system. The rate of foreign exchange changes so quickly those traders must be able to react to market shifts within seconds. Online FOREX currency trading makes this possible by eliminating the classic stock broker. Rather than trading telephone calls and trying to catch a great deal by shouting and waving papers, FOREX trading is accomplished with a touch of a button on the computer.

The ease of online FOREX currency trading appeals to many, both businesses and individuals alike. All the information one needs to get started with FOREX trading is available online. FOREX exchange rates are continually updated on many websites. It is simple to buy one currency when it is low and sell it when it is high. However, what goes up can also come down, and new traders on the FOREX online markets must be prepared for losses. Still, despite the risks, more and more people are participating in online FOREX trading every day.

Keeping updated with the world market is the best way to prevent losses with currency trading. Learning which countries are experiencing economic growth or recession is essential to make the best currency trading decisions. It is always good to invest in currency from nations who are experiencing growth. Likewise, avoiding countries that are historically unstable or are experiencing war or international economic sanctions is only wise. FOREX online currency trading is not for everyone, but with some knowledge and skill, it can be very lucrative.

Article By: John Howard
Source: http://www.tradeforex2000.info/forexarticledirectory

Being a Calculated Risk Speculator or Just a Gambler

2008-01-06T11:50:00.000+08:00

He or she, who is known to gamble on horses, or dogs, or other sporting events etc., is often branded a persona non grata in certain circles.

However, if a person speculates on buying and selling securities, foreign currency, or property, their classification would point to a persona grata.

Both cases are of course a form of gambling dressed in different clothing. In both cases, there is a possibility of risk loss or the possibility of bigger gain. The need to arrive at an opinion without having positive evidence to back it up is equally there. So is the problem that complete facts are hardly ever disclosed, to enable the finding of a certainty.

In spite of these hurdles, in the case of property and foreign currency buying or selling, the chances of getting it right are better as opposed to finding the outcome of a horse or a dog race, or a football game. Getting involved is also less of a worry, because even if you get it wrong, you still have that house or that other currency you bought. The result is over only when you say, since these investments can eventually regain value, and actually show a profit. Backing losers in racing and other forms of gambling can mean that for the serious or occasional gambler, the money is dead and buried.

Of course, some gamblers attach a lot of importance to the thrill effect of their bets. There is no doubt that betting on sport events, cards, or many casino games can be thrilling, but so is the constant movement of the value of currencies. That wheel goes round and round nonstop, but you can get on and off whenever you like. There are many foreign currency exchange companies ready to let you operate, offering very good rates.

Never think of a bookmaker as an enemy whom you have to beat, your selection may be the one he also wants to win. Also, remember your foreign currency exchange office as a friend that makes it possible for you to play at good currency rates. You are putting your wits against a market that has no financial interest in your winnings or losses.

A realtor has equally no interest to see you lose any money. On the contrary, he likes you to be happy with the purchase of your property. Even if the prices should go against you, he knows that in due course things will change.

A speculator in the foreign currency game increases the chances of success by keeping in touch with as much relevant data as possible, which means that there is never a dull moment. The same applies to a property speculator. By having to constantly study the market and world affairs, the person becomes necessarily rather well read and interesting to talk to. Amongst other things, that gambler is a persona grata.

These days, more and more gamblers turn to the forex game. It keeps them amused as well as thrilled. Instead of a horse or a tennis star etc., they are the actual performer. There is little doubt that the well prepared person has the chance to prevail.
The currency market is not a geared slot machine. It has inexhaustible money to hand out if you get things right, and does not care if you keep winning, should you be clever enough.

Who knows, you might be champion material.

Article: Paul Dubsky
Source: http://www.tradeforex2000.info/forexarticledirectory

Dec 31, 2007 - Jan 4, 2007

2008-01-06T11:46:00.000+08:00

Dec 31, 2007 - Jan 4, 2007

Open Trades = 9
Floating gain/(loss) = (88.7000%)
PMTFC2 share = 1.1483 unit value

The Essence Of Online Trading

2008-01-02T20:20:00.000+08:00

Many today prefer to buy stocks online because they don't have the time to get involved in trading decisions during the day and want to take decisions only when they are free, that might even be at midnight. Also online trading service providers offer the individual a whole wealth of information to analyze and internalize before making the investment. Further the commission that these service providers charge on each transaction is much less than what on-floor brokers do. So the investor earns a lot more on every transaction.

While trading online, there are a few things that you should be careful about. We will try here to provide you with some basic indicators.

You must understand that however fast your internet connection is, and whatever software and hardware you are using there will be some time lag between the time you click to place your order and the actual time when your order gets processed and registered. This time lag, depending on how long it is can seriously alter your final gains or losses. What you can do is to see the time-lag is kept to a minimum. That would be possible if you have the best set-up in place and your trading firm provides its subscribers with the best service.

You must get real time updates and stock quotes from your service provider. If it is delayed then you will be placing orders for rates which are long history. And then it will take further time to process your order. What you will finally get is something a lot different from what you were expecting. So the feeds have to be live and real time. There can be no two-ways about it.

to be successful in the field of stocks one is required to have some primary knowledge as to what is what and investing on something will yield how much result. In this article we will briefly try to explain a few fundamental things that any investor on the stock markets should know. And since you will be investing online and there will be no guide for you, knowing these basics will definitely stand you in good stead.

As online trading get increasingly easy many investors drop their guard. That is criminal. You just cannot take it easy on the net. There are a few simple things you should practice while investing on the net like always have all you transactions confirmed by your online brokerage firm, never trade from unprotected computers, regularly update the security features of the software of your computer, never provide your account information to anyone, etc.

source: http://www.tradeforex2000.info/forexarticledirectory

4 Types Of Technical Indicator You Need When Trading Forex

2008-01-02T20:07:00.000+08:00

If you have any experience in using any kind of charting packages to assist you with your forex trading, you will know that there are endless different technical indicators you can use. In this article I'm going to be asking what are all these indicators and which ones do you really need?

As you can guess from the title of this article, there are essentially four different types of technical indicator and they are as follows:

1.Trend indicators.

MACD, Parabolic SAR and the various moving averages are a few examples of trend indicators and they can all be used to identify a trend. It's widely argued that you should only trade with the trend so all of these indicators will help you to take the decision out of your hands, and therefore dictate which way you should be trading. Your only decision now is at what level to enter the trade.

2.Momentum indicators.

These types of indicators are essentially oscillating indicators and are most useful for determining overbought and oversold positions and can be very useful in signalling the start of a new trend. Examples include RSI, Stochastics and CCI.

3.Volume indicators.

As the name suggests, these types of indicators show the volume of trades behind a particualr price movement which can be extremely beneficial because a price movement backed up by high volume is a much stronger signal than a price movement based on low volume. Examples here include Chaikin Money Flow, Force Index, Money Flow Index and Ease Of Movement.

4.Volatility indicators.

Volatility indicators generally use ranges to show the behaviour of the price and the volume behind any movements. This is useful because any dramatic change in behaviour can provide a good entry signal. Common examples include Bollinger Bands, Average True Range and Envelopes.

So there you have the four different types of technical indicators available to you. Which ones you use is entirely up to you, but it's generally advised that you have at least one type of each in order to provide additional confirmation for entering a trade.

Trading forex using technical analysis is all about probabilities in that when you enter a long position, for example, you want all of your chosen signals to be signalling an upwards movement, therefore indicating a high probability of an upwards movement taking place.

If you use a strict stop loss policy and use these different types of indicators to confirm positions, then over time this high probability trading method should provide you with more winners than losers in the long run.

source: http://www.tradeforex2000.info/forexarticledirectory

Basic Tips in Forex Trading

2008-01-02T19:56:00.000+08:00

Tip 1 – When trading forex, always make sure to trade with a stop order, not because you expect to lose, but to prevent a large loss from an unexpected news event like a currency devaluation, government coup d'etat, terrorist attack, natural disasters, or whatever.

Tip 2 - New traders to the forex can learn to trade with the less volatile pairs and then move to the more volatile pairs later.

Tip 3 - Trade only with the trend and market momentum. As they say, "the trend is your friend." All currency pairs are trending or oscillating in some form at all times. Trending is a directional move up or down, oscillating is up and down movements going sideways within a range. We usually like to trade in trending movements only.

Tip 4 - If you have any currency pair that has moved strongly in your favor you can close out half of your lots. It is better to have the "money in the bag," than waiting for "potential winning" to come later. the market might go back against your trend later.

Tip 5 - Carry trades are great, these are trades where your objective is a combination of high interest income and some capital appreciation and you intend to hold on for a long period of time. But carry trades are usually done by seasoned traders only.

Dollar starts 2008 on a weak footing

2008-01-02T19:53:00.000+08:00

LONDON, Jan 2 (Reuters) - The dollar fell half a percent versus the euro on the first trading day of the new year with investors inclined to bet that coming U.S. economic news would be soft enough to confirm the need for more interest rate cuts.

Although U.S. existing home sales data on Monday was a bit better than expected, it did little to alter the downbeat view on the world's biggest economy cemented by the previous week's soft reports on new home sales and durable goods orders.

On the last trading day of 2007, U.S. short-term rate futures were pricing in as much as 96 percent probability of a Federal Reserve rate cut to 4.00 percent on Jan. 30. That would bring the U.S. benchmark, currently 4.25 percent, into line with euro zone rates, completely erasing the dollar's yield advantage over the euro.

Market activity was expected to slowly pick up as investors return from Christmas and new year holidays although Japan and China remain on holiday until Friday.

For complete article, http://www.reuters.com/article/usDollarRpt/idUSL024375820080102

FOREX-Dollar up vs euro, down vs yen as 2007 closes

2008-01-01T11:41:00.000+08:00

NEW YORK, Dec 31 (Reuters) - The dollar rallied against the euro but slipped against the yen in the final trading day of 2007 on Monday, though dealers resisted making big bets until volume increases after New Year's Day.

The dollar was on track for its biggest annual decline in four years against a basket of major currencies on expectations the Federal Reserve will have to lower interest rates further to stave off a recession.

The Fed already has cut its benchmark federal funds rate by a full percentage point in three moves, beginning at its September meeting, in an effort to ease a credit crunch which began in August.

It was the second straight year of declines for the dollar index.

"It's a funny market right now, and I can't point to any fundamental factor for what we are seeing," said Stephen Malyon, currency strategist at Scotia Capital in Toronto. "We are in holiday trading mode until Wednesday."

For complete article, click here, http://uk.reuters.com/article/usDollarRpt/idUKN3158286920071231

Dec 24-28, 2007 update

2008-01-01T11:27:00.000+08:00

Dec 24-28, 2007

Open Trades = 9
Floating gain/(loss) = (64.2000%)
PMTFC2 share = 1.3017 unit value

Dec 17-21, 2007 update

2007-12-22T08:37:00.000+08:00

Dec 17-21, 2007

Open Trades = 8
Floating gain/(loss) = (49.5904%)
PMTFC2 share = 1.2829 unit value

To temper peso, BSP may further ease forex rules

2007-12-16T15:36:00.000+08:00

MANILA, Philippines--The central bank, Bangko Sentral ng Pilipinas (BSP), may be forced to further ease foreign exchange rules to address the sharp rise of the peso, according to a paper by investment bank DBS.

Exporters and families of overseas Filipino workers (OFWs) -- badly hit by the steep climb of the peso -- have been urging government for so long to temper the strengthening currency.

In its latest assessment of emerging and industrialized economies, DBS noted that the Philippine peso is the strongest Asian currency so far this year, marking a year-to-date appreciation of 19.3 percent. This was far stronger than the average 4-percent appreciation posted by nine other Asian currencies.

For the complete read of this article written by Michelle Remo, click here.

Fed Expected to Cut Rates Again

2007-12-15T07:38:00.000+08:00

Faced with a spreading mortgage crisis, the Federal Reserve is expected to cut interest rates for a third time later and hint that even more rate cuts could be forthcoming.

Fed Chairman Ben Bernanke has clearly signaled this outcome in a speech last month in which he said that the latest bout of financial market turbulence raised greater risks for the economy.

Most economists are expecting a quarter-point cut in the federal funds rate at Tuesday's meeting, which will be the Fed's last rate-setting discussion this year. That would push the federal funds rate down 4.25 percent and send bank's prime lending rate, the benchmark for millions of consumer and business loans, down to 7.25 percent, the lowest level in two years.

The Fed started cutting rates in September with a bolder-than-expected half-point move and then reduced the funds rate by a quarter-point at its Oct. 31 meeting. The central bank was trying to make sure that a severe slump in housing, spreading mortgage defaults and financial market turbulence which hit with force in August did not derail the economy.

In its October announcement, the Fed indicated that its two rate cuts might well be all that would be needed to make sure the country was not pushed into a recession.

But that view has undergone a dramatic about-face in the six weeks since that time, reflecting worsening conditions in financial markets and continued sharp declines in housing as lenders tighten standards in response to rising mortgage defaults.

Many analysts believe the current quarter and the early part of next year will represent the period of maximum danger for a possible recession.

"I think a full blown recession can be avoided but just barely," said David Jones, chief economist at DMJ Advisors. He predicted that the Fed will follow up its expected December rate cut with three more reductions at its first three meetings of 2008.

For all of 2008, a forecasting panel of the Securities Industry and Financial Market Markets Association said Monday it believed overall economic growth, as measured by the gross domestic product, would come in at an anemic 2.1 percent as housing construction and sales continue to fall for most of the year. That would be the weakest GDP growth in six years.

http://truenorth-forex.blogspot.com/

Dec 10 - 14, 2007

2007-12-15T07:37:00.001+08:00

Dec 10 - 14, 2007

Open Trades = 8
Floating gain/(loss) = (38.6939%)
PMTFC2 share = 1.2829 unit value

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Fear the Forex Market

2007-12-12T13:05:00.000+08:00

If you have to catch something that's going around, do whatever you can to make sure it's not the forex trading bug.

Although the offers of easy riches from swapping currencies might be tempting, the vast majority of investors would do well to resist the lure. Not only is this market supremely risky, but there are other, better ways to achieve the same investment goals.

That's not readily apparent to everyone, especially given the feeble performance of the U.S. dollar, which is down around 30% against the euro over the past five years. That has made betting against the greenback look like an appetizing one-way bet.

For the complete article written by By Simon Constable of TheStreet.com Staff Reporter, click here.

Crosses Technical Analysis

2007-12-10T20:48:00.000+08:00

GBP/JPY

The Pound dropped further yesterday against the Yen, as the pair is still showing a downside potential on the short term, though the medium to long term trends remain well to the upside, and the long term target is set to be at the 230.20s level, while the point at 223.90 seems to offer good demand for the pair.

EUR/JPY

The Euro settled against the Yen yesterday, as the pair is yet to gather some momentum that will take it to he upside to progress its upside general trend, targets now are set to be at the 164 level, while the point at 161.89 seems to offer good demand for the pair.

EUR/GBP

The Euro continued to incline against the Pound yesterday, as the pair breached the 0.7200 level again and the short term indicators are still showing more room for an upside wave, the general trend remains well to the upside, and the first target is set to be at the 0.7250s level, while the point at 0.7195 seems to offer good demand for the pair.

http://forexvillage.blogspot.com/

USD Stronger

2007-12-10T17:10:00.000+08:00

The Dollar scaled a one-month peak against a basket of currencies on Wednesday as reports showing robust job growth and productivity gains suggested a milder slowdown in the US economy than many had thought.

The surprise jump in the ADP employer services report on private sector employment fanned expectations of an above forecast non-farm payrolls report on Friday, prompting the market to trim back chances of a 0.50% interest rate cut by the Federal Reserve next week. private sector added 189,000 private-sector jobs last month, the ADP report showed, helping to ease some market fears about trouble in global credit markets that had weighed on the greenback in recent sessions.

Data on Friday will likely show that US employers, outside the farming sector, added 75,000 jobs last month. Expectations the Bank of England will lower it’s main lending rate to 5.5%. But ECB is expected to hold at 4%.

http://www.mataf.net/en/forex/forex-dollar-was-stronger-against-major-currencies-after-job-and-productivity-reports/327/

Canada Dismisses Dollar Peg

2007-12-09T16:43:00.000+08:00

Unnerved by the tremendous appreciation in its nation’s currency, Canada’s Parliament is officially mulling the possibility of pegging the Loonie to the USD. It’s unclear at what value the two currencies would be linked, perhaps at parity. However, in testifying before Parliament, the future leader of the Bank of Canada argued staunchly against such an exchange rate regime.

Such a relationship, he warned, would cripple Canada’s ability to conduct monetary policy, independent of the US. So long as the Loonie remained fixed to the Dollar, Canada would be forced into mirroring US interest rate movements. Because of several fundamental differences in their respective economies, it seems unlikely that this policy will be implemented.

http://truenorth-forex.blogspot.com/

Lottery Winner

2007-12-08T09:13:00.000+08:00

A man rushes into his house and yells to his wife, "Martha, pack up your things. I just won the California lottery!"

Martha replies, "Shall I pack for warm weather or cold?" The man responds, "I don't care. Just so long as you're out of the house by noon!"

More of these jokes here. You can also contribute your own funny stories.

Interbank FX Honored as Best Foreign Exchange Broker

2007-12-08T09:12:00.001+08:00

Salt Lake City – December 7, 2007 –

Interbank FX (IBFX), an online Futures Commission Merchant (FCM), today announced it has been named Best Foreign Exchange Broker at Shares magazine’s 2007 Shares Awards. The winners were announced Thursday, Nov. 29, 2007, at a gala dinner at the Grosvenor House Hotel in London.

“We are indeed grateful to the readers of Shares for recognizing us in this capacity , ” said company president and CEO Todd Crosland. “This prestigious award mirrors our firm dedication to providing the highest level of technology and customer service to our clients, and illustrates the enduring high regard of IBFX’s services among traders throughout the world,”

Readers of Shares magazine—the fastest growing financial title in the UK—nominated their favorite providers in a variety of areas, including stocks, derivatives, online research and information, software, and fund management. IBFX competed against quality contenders CMC Markets, FXCM, GFT Global Markets, Hargreaves Lansdowne and Saxo Bank in its bid to earn top honors at the annual event.

“We believe that our long-term success is closely tied to the success of our customers,” said Crosland. “Our commitment to excellence is by no means static. We strive to exceed our customers’ expectations by continually adding new technological features and dynamic trading tools. We look forward to being a strong contender for the 2008 awards.”

Being honored by Shares as the Best Foreign Exchange Broker is the crowning achievement of a year already marked by several milestones for IBFX. Some of the 2007 highlights include:

• Todd B. Crosland, 2007 Ernst & Young Entrepreneur of the Year winner

• Utah Best of State award winner 2007 (Financial Services)

• UVEF Winner – Top growth company in Utah under 5 years old

• $40 million minority investment from private equity firm Spectrum Equity

• Monthly trading volume in excess of $70 billion

• Current net capital in excess of $30 million (November 30, 2007)

• Unveiling of industry first Platinum reward Interbank FX credit & debit card program

• Introduction of several pioneering customer trading tools, including popular IBFX-PRS—“Pattern Recognition System”

###

About Shares

Since its launch in 1999, Shares magazine has been the fastest growing financial title in the UK. Its achievements have been recognized by three major industry awards — the Association of Circulation Executives’ prize for the best launch of the year in the newstrade, the Periodical Publishers Assocation title for the most successful subscription launch, and the ProShare award for favorite information product among investment club members. Comment and expert analysis from Shares journalists is now available on a daily basis on MoneyAM, a financial Web site aimed at active private investors.

About IBFX

IBFX ( www.interbankfx.com ) is a Futures Commission Merchant (FCM), registered with the Commodity Futures Trading Commission and a member of the National Futures Associ ation (NFA). IBFX has customers in more than 135 countries and offers individual traders, fund managers and institutional customer's proprietary technology and a revolutionary approach to foreign exchange trading. IBFX customers execute directly from a streaming quote feed, not from a dealing desk that trades against its customers, and also offers one of the only automated trading platforms in the world. Customers can program their own algorithms that will automatically enter and exit trades based on their trading strategy. IBFX Wireless provides customers the flexibility to monitor, modify, execute trades and receive alerts anywhere in the world. Through IBFX's partnership with leading worldwide institutions, traders have access to liquidity from 1,000 to 10,000,000 of the base currency with one click execution. Customers can trade micro, mini and standard lots. IBFX is committed to maintaining a high standard of service that en ables customers to focus on trading opportunities in the Forex market while limiting their margin and liquidity risks. Trading in the off-exchange retail foreign currency market is one of the riskiest forms of investing and should only be attempted by experienced traders.

Dec 3-7, 2007

2007-12-08T07:30:00.000+08:00

Dec 3-7, 2007

Open Trades = 6
Floating gain/(loss) = (39.4532%)
PMTFC2 share = 1.2829 unit value

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The Beauty of Math

2007-12-06T21:06:00.000+08:00

1 x 8 + 1 = 9
12 x 8 + 2 = 98
123 x 8 + 3 = 987
1234 x 8 + 4 = 9876
12345 x 8 + 5 = 98765
123456 x 8 + 6 = 987654
1234567 x 8 + 7 = 9876543
12345678 x 8 + 8 = 98765432
123456789 x 8 + 9 = 987654321

1 x 9 + 2 = 11
12 x 9 + 3 = 111
123 x 9 + 4 = 1111
1234 x 9 + 5 = 11111
12345 x 9 + 6 = 111111
123456 x 9 + 7 = 1111111
1234567 x 9 + 8 = 11111111
12345678 x 9 + 9 = 111111111
123456789 x 9 +10= 1111111111

9 x 9 + 7 = 88
98 x 9 + 6 = 888
987 x 9 + 5 = 8888
9876 x 9 + 4 = 88888
98765 x 9 + 3 = 888888
987654 x 9 + 2 = 8888888
9876543 x 9 + 1 = 88888888
98765432 x 9 + 0 = 888888888

Fed Rate Cut Again Next Month?

2007-12-03T20:12:00.000+08:00

In recent speeches, two high-ranking officials from America’s Federal Reserve Bank gave conflicting indications regarding the likelihood of rate cuts next month. Both officials were deliberately ambiguous in their speeches, though one went so far as to rule out a rate cut while the other hinted at its inevitability. Nonetheless, analysts used the speeches to buttress their conclusion that a rate cut is probable. In fact, the futures market has priced in a 94% chance that rates will be cut by 25 basis points at the next meeting, on December 11. Likewise, it seems a rate cut has already been priced into the USD.

Taken from http://www.truenorth-forex.blogspot.com/

November 26-30, 2007

2007-12-01T07:27:00.000+08:00

Open Trades = 6
Floating gain/(loss) = (30.7701%)
Value of share = 1.2711 unit value

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Mid Term Review

2007-11-30T21:58:00.000+08:00

The EUR/USD has already dropped to key support at 1.4725 and has bounced back up. The pair is most likely going to continue moving in a sideways range between 1.4725 and 1.4875. If some other piece of bullish USD news does happen to come out within the next day or two, the EUR/USD may drop down to support at about 1.4625, but that is where the buck stops.

You will see similar movement with the USD versus the Japanese yen (JPY) and the CHF. Both the USD/JPY and the USD/CHF have risen to key levels of resistance and will most likely turn back around and fall back into sideways trading ranges.

Don't try and chase this bullish USD move just yet. You will find some trading opportunities as these pairs trade in their ranges, but you should keep you time horizon on your trades a little shorter.

Taken from http://www.truenorth-forex.blogspot.com/

USD improving?

2007-11-29T07:55:00.000+08:00

NEW YORK, Nov 28 (Reuters) - The dollar came off highs against the euro on Wednesday after the Federal Reserve's beige book report said the U.S. economy from October to mid-November expanded at a slower pace than in the previous period.

The report, an anecdotal summary of economic conditions nationwide, also said U.S. housing demand was "quite depressed".

The euro cut losses against the dollar to $1.4812 , from $1.4795 before the report. Against the yen, the dollar trimmed gains to 110.30 , from 110.40 previously. (Reporting by Gertrude Chavez-Dreyfuss; Editing by James Dalgleish)

Get Rich Quick Trading Forex - How to Do It In Simple Steps

2007-11-24T14:21:00.000+08:00

Many people want to get rich trading forex and there is no doubt it offers the potential to do so but most fail. So is it possible to get rich trading forex? Absolutely - but you need to keep the following in mind before you try it.

When you read a lot of the material about forex trading writers almost consider profits as an after thought and stress the risk above all else. Well of course forex trading is risky we know that already but with risk goes reward.

Risk also equals opportunity.

Your aim is to take calculated risks at the right time and profit from them.

Anyone can learn trading and anyone can get rich but the facts state 95% of traders lose money quickly.

In 1983 trading legend Richard Dennis set out to prove anyone could learn to trade and be successful even if they had no experience - in two weeks he taught a group of all ages, both sexes and of varying degrees of intelligence, to trade and then gave them accounts.

The result?

They made Dennis $100 million and went on to become some of the most successful traders of all time.

So how did they do it?

Dennis realized that anyone can learn a method - but you must also be taught to understand why the method works, so you can trade it with confidence and discipline.

A simple equation for this is:

Robust Simple Method + Applied With Discipline = Forex Success

If you want to get rich quick trading forex it's not just your method you need to concentrate on it's also your mindset.

You are responsible and need to have confidence in what you're doing and then have the courage and conviction to take risks at the right time.

Here are some simple points to keep in mind when constructing any trading plan.

1. Get a simple robust forex trading method you can have confidence in

Forget complicated methods simple systems work best as there are fewer elements. to break.

2. Trade lightly

Focus on long term trends the big ones that yield the big gains. These only come around a few times at month at best but profits have nothing to do with the amount of times you trade. You don't get paid for effort in forex trading you get paid for being right.

3. Trade breakouts

Don't bother trying to "buy low or sell high" buy breakouts from new highs or lows it's a fact that the majority of big trends start from market highs NOT market lows.

4. Hit Them Hard

If you see a big opportunity hit it hard and that means risking 10 - 20% of your equity. Forget about the myth that you should only risk 2% if you have a $10,000 account that's just 200 bucks and you won't make much on that. There is nothing wrong with taking calculated risks - if you want to get rich in forex trading it's a must.

5. Don't bank early

Accept that you are going to have to take dips in open equity to catch a big profit.

This means having the discipline to hold and have the courage of your conviction.

Forex trading is essentially simple, anyone can learn the basics - the hard part is knowing when to take calculated risks.

Forex trading is as much mindset as method. You will only make money, if you have courage, conviction, mental discipline and an ability to be cool under pressure.

You can't buy success from anyone else, it's all on your shoulders and how successful you will be, will depend on how you apply yourself and how you deal with risk.

The fact is anyone can get rich in forex trading - but few have the mindset to stand alone and have the guts to take calculated risks and hold long term trends.

If you have the desire to make money, your halfway there - as you're likely to work in the right way, to make forex trading work for you. Forex markets don't defeat you can only defeat yourself.

The opportunity is there but it's up to you to make the opportunity work for you.

By Kelly Price, ArticleClub.com

November 19 - 23, 2007

2007-11-24T14:20:00.000+08:00

Open Trades = 6
Floating gain/(loss) = (52.8571%)
Value of share = 1.2747 unit value

.

Oil Closes at New Record; Nears $100 a Barrel

2007-11-24T05:56:00.000+08:00

NEW YORK (AP) -- Oil futures resumed their march toward $100 a barrel Friday, rising to a new record close in light holiday trading on concerns about tight heating oil supplies while also drawing support from a buoyant stock market.
Story
Tips to Saving Money at the Gas Pump

At the pump, meanwhile, gas prices retreated further from their most recent peak, falling 0.1 cent overnight to a national average of $3.086 a gallon, according to AAA and the Oil Price Information Service. Prices rose sharply from mid-October until last week, but have fallen 2.6 cents since, countering predictions that gas prices were destined to add another 10 to 15 cents a gallon to catch up with skyrocketing crude prices.

Analysts now say gas prices are likely to hold steady or even slide a little unless oil rises beyond $100 a barrel.

Oil prices drew support Friday from heating oil futures, which set new records on concerns about tight supplies heading into the winter heating season. Inventories of distillates, which include heating oil, fell sharply last week, the Energy Department reported on Wednesday.

Light, sweet crude for January delivery rose 89 cents to settle at $98.18 a barrel on the New York Mercantile Exchange, besting the previous settlement record by 15 cents, while December heating oil futures rose 1.68 cents to settle at $2.7042 a gallon after earlier setting a new trading record of $2.7181 a gallon.

Crude prices reached a trading record of $99.29 a barrel on Wednesday, and are within the range of inflation-adjusted highs set in early 1980. Depending on how the adjustment is calculated, $38 a barrel then would be worth $96 to $103 or more today.
Photos
Crude Realities: Oil Production and Politics

Heating oil prices are rising due to falling supplies at home and overseas, analysts said.

"The heating oil market, it's more of a global story," said Andrew Lebow, senior vice president of MF Global Inc. in New York. "Because of refinery problems in Europe, (supplies) are kind of tight."

Energy futures also drew support from Friday's rise in the stock market. Energy investors often view stocks as a proxy for the economy's strength, betting that a stronger economy will use more oil and gasoline.

By JOHN WILEN
AP Business Writer

European Central Bank chief warns of 'brutal' foreign exchange movements

2007-11-24T05:50:00.000+08:00

FRANKFURT (AFP) — European Central Bank president Jean-Claude Trichet said Friday he did not welcome "brutal" exchange rate movements, a few hours after the euro hit another record high against the dollar.

Trichet had used the word "brutal" in 2004 when there was a question of whether the ECB would intervene to stem an earlier rise by the euro against the dollar.

Earlier in Asian trading the euro had struck a new peak of 1.4928 dollars. The ECB chief also said that "abrupt and sharp" movements by foreign currencies did not favour global growth, reiterating comments made early this month when the bank left its main interest rate steady at 4.0 percent.

Trichet added Friday that he would discuss exchange rates during his forthcoming visit to China.

"I have an occasion to discuss with our Chinese counterparts the message we agreed on at the G7 (Group of Seven) on the emerging market currencies," he told reporters on the margins of the European Banking Congress here.

Trichet also said he "enormously appreciated" remarks by US Treasury Secretary Henry Paulson that a strong dollar was in the US economic interest.

Many market observers believe that US officials are in fact content to let the dollar slide against other major currencies because it favours US exports.

Eurozone exports, meanwhile, are suffering from the euro's sharp rise in value against the dollar, yen and Chinese yuan.

Taken from http://afp.google.com/article/ALeqM5izIs8WYqxzLRUmdrKZIiJUc5NMYA

November 12 - 16, 2007

2007-11-17T15:24:00.000+08:00

Open Trades = 6
Floating gain/(loss) = (49.8313%)
Value of share = 1.2747 unit value

.

USD rises on better-than-expected Empire State Manufacturing survey

2007-11-16T10:17:00.000+08:00

LONDON (Thomson Financial) - The dollar strengthened a touch after the New York Federal Reserve Bank's manufacturing survey showed business conditions did not worsen as much as expected in November.

The New York Federal Reserve Bank's Empire State Manufacturing Index was essentially steady in November, showing current conditions dipping only slightly to a 27.37 reading after a revised 28.75 in October, and above expectations for a sharper pullback to 19.00.

Within the survey, the prices paid index rose, to 42.86 from 36.05, it's highest level since 44.26 in August last year.

The strong survey offset a bigger-than-expected increase in jobless claims.

The Labor Department said initial claims for unemployment insurance in the US rose to their highest level in a month, to 339,000 new claims for the week ending Nov 10, an increase of 20,000 from the prior week. Economists were expecting 320,000 new claims.

Source: http://www.hemscott.com/news/latest-news/item.do?newsId=53878217443098

Can China Dump the Dollar?

2007-11-16T10:08:00.000+08:00

In an interview of the Washington Post with Brad W. Setser, the Council on Foreign Relation’s currency expert. One of answers he gave was pretty revealing in terms of what China can and cannot do.

It has been known for a long time that those countries that export heavily to the U.S. do not want to see lots of appreciation in their own currencies because that would make their products less competitive here. Among these exporters, China is the largest.

Setser’s point is that China is already struggling to prevent appreciation of its currency against the dollar. If China dumps dollars, then the dollar might fall and its own currency would probably appreciate versus the dollar, thus exacerbating a problem it already faces. In addition, China does not want to do anything that would help push the U.S. into a recession because when the U.S. economy slows, the rest of the world does too.

In conclusion, it seems unlikely that China would dump dollars. In addition, China will probably have to keep increasing its dollar reserves for some time to come.

Excerpt taken from http://www.fundmasteryblog.com/2007/11/15/can-china-dump-the-dollar/

Dollar drops as U.S. growth fears dog market

2007-11-15T17:45:00.000+08:00

NEW YORK, Nov 14 (Reuters) - The dollar slipped on Wednesday as worries about the struggling U.S. housing sector and lingering credit problems weighed on sentiment, leaving the dollar's long-term downtrend intact.

Data showing U.S. retail sales growth slowed slightly in October, in line with expectations, and flat producer prices sustained investors' decisions to keep pushing the dollar toward record lows against the euro.

"Retail and sales and PPI at the margin support a weaker dollar," said Meg Browne, senior currency strategist at Brown Brothers Harriman in New York. "Retail sales supports the view that growth is slowing."

The euro rose 0.3 percent to $1.4643 , within sight of record highs of $1.4752 reached last week. Against the Swiss franc, the dollar fell to the lowest level since April 1995, at 1.1178 francs before recovering to trade at 1.1243, still down 0.2 percent on the day.

Another prominent theme in the market was the rebound in investors' willingness to take bigger risks for a higher return.

Earlier this week, nervousness about the difficult lending environment caused the yen to surge across the board, rising to an 18-month high against the dollar as investors unwound carry trades, in which a low-yielding currency such as the yen is borrowed to fund purchases of higher-yielding ones.

Written by Nick Olivari, Reuters.uk

News on USD

2007-11-14T11:24:00.000+08:00

Currency trading markets returned to dollar selling through the day’s forex price action, as a general recovery in risk sentiment allowed speculators to re-enter profitable dollar-short positions. Indeed, the overnight Tokyo session saw Hong Kong’s Hang Seng Index recover marginally from the previous day’s rout, while the Dow Jones Industrial Average added an impressive 160 points through time of writing. Whether or not this will risky asset rebound continues will remain key to dollar performance, but tomorrow’s significant event risk may likewise play a part in short-term greenback price action.

A busy international economic calendar left traders with plenty to talk about through previous Tokyo and London forex sessions, but actual price movements on economic data remained relatively limited. Notables included the closely-watched German ZEW report, which fell significantly below consensus forecasts yet was not enough to derail the recent euro rebound. In the UK we saw that domestic CPI printed slightly above official targets through the month of October—solidifying the case for stable interest rates and lending support to the recently oversold British Pound. The US economic calendar was comparatively empty, and the only notable on the ledger is the upcoming Pending Home Sales Report due at 15:00 EST, 20:00 GMT.

Limited event risk left forex speculators to trade off of general risk sentiment, and a sharp rebound in the US stock market allowed traders to continue selling the risk-sensitive dollar. Yet forex market trading was reportedly thin through the later New York hours, and it seems as though traders are increasingly indecisive over the short-term direction for major forex pairs. According to FXCM dealing data, open interest in US dollar positions has fallen across the board after recent market volatility. Given unexpectedly sharp price movements, speculators are increasingly reluctant to open large positions. That said, the FXCM Speculative Sentiment Index reading continues to support US dollar weakness through short-term trade. The contrarian signal shows that the majority of retail forex traders remain long the US dollar against major currency counterparts. Yet we likewise note that the proportion of USD-longs has been shrinking through the past week of trade. Such developments suggest that dollar losses may slow through short-term price action.

Outlook for the dollar will likewise continue to depend on the Dow Jones Industrial Average, which rebounded sharply at +1.3 percent to 13,147 through the New York afternoon. Gains were broadly distributed across the majority of trading sectors, and the S&P 500 added a similar 1.3 percent to 1,457. The recently downtrodden NASDAQ Composite posted the biggest rally on the trading session—adding 1.7 percent to 2,628.

US Treasury market traders returned to their desks after yesterday’s US Veteran’s Day holiday and immediately sold short-term government debt. The 2-year Treasury Note Yield climbed 5 basis points to 3.48 percent. Yet the short-term bond yield remains near recent 2-year lows and will have to post substantive rebounds to recover last week’s losses.

Written by David Rodríguez, Currency Analyst for DailyFX.com

Supermodel Bundchen Joins Hedge Funds Dumping Dollars

2007-11-13T21:21:00.000+08:00

Nov. 5 (Bloomberg) -- Gisele Bundchen wants to remain the world's richest model and is insisting that she be paid in almost any currency but the U.S. dollar.

Like billionaire investors Warren Buffett and Bill Gross, the Brazilian supermodel, who Forbes magazine says earns more than anyone in her industry, is at the top of a growing list of rich people who have concluded that the currency can only depreciate because Americans led by President George W. Bush are living beyond their means.

Even after the dollar lost 34 percent since 2001, the biggest investors and most accurate forecasters say it will weaken further as home sales fall and the Federal Reserve cuts interest rates. The dollar plummeted to its lowest ever last week against the euro, Canadian dollar, Chinese yuan and the cheapest in 26 years against the British pound.

November 4 - 9, 2007 Update

2007-11-11T08:57:00.000+08:00

Open Trades = 6
Floating gain/(loss) = (32.6137%)
Value of share = 1.2745 unit value

Not a good week inforex as USD meltdown continues to haunt the market. The increase in EUR and CHF is not enought to cover the drawdown in the USD.

USD: Another Record Low

2007-11-08T21:11:00.000+08:00

The beleaguered dollar continues to plumb new lows across the board, hitting 2.0904 against the sterling and 1.4570 versus the euro. Sentiment for the greenback remains heavily bearish despite recent US economic not pointing towards the worst-case scenario of an imminent recession.

The latest string of upbeat reports included Q3 GDP, a robust labor market as evident in the October non-farm payrolls and yesterday's stronger than expected non-manufacturing ISM - which suggests another 25-basis point Fed rate cut may not be forthcoming. Deterioration in the housing market and credit concerns continue to be the Achilles heel for the US currency as investor nervousness over banks' balance sheets remain heightened. Uncertainty about the extent of further write-offs stemming from the subprime debacle will likely plague the greenback over the quarter.

Taken from http://www.truenorth-forex.blogspot.com/

October 29 - November 2, 2007

2007-11-04T21:47:00.000+08:00

Open Trades = 6
Floating gain/(loss) = (8.2571%)
Value of share = 1.2745 unit value

October 22-27, 2007

2007-11-02T08:18:00.000+08:00

Open Trades = 4
Floating gain/(loss) = (12.6286%)
Value of share = 1.2645 unit value

October 15-20

2007-10-20T10:46:00.000+08:00

Open Trades = 6
Floating gain/(loss) = (15.9490%)
Value of share = 1.2407 unit value

October 8-12, 2007

2007-10-12T08:28:00.000+08:00

Open Trades = 4
Floating gain/(loss) = (12.71430%)
Value of share = 1.2427 unit value

October 5, 2007 update

2007-10-08T07:52:00.000+08:00

October 1-5 2007

Open Trades = 4
Floating gain/(loss) = (11.5590%)
Value of share = 1.2277 unit value

Off-Topic: DESPERATE HOUSEWIVES' Unconscionable Remark

2007-10-03T12:38:00.001+08:00

DESPERATE HOUSEWIVES' Unconscionable Remark; Lodge Protest, Sign Petition

------------------------------------------------------------------------------

To view the episode, log in to www.abc.com, click on Desperate Housewives, look for the Sept 30 episode.

------------------------------------------------------------------------------

Dear Ambassador Gaa:

Further to my email to you, aside from my recommendation to lodge a formal protest, kindly encourage officials and employees from the different Philippine consulates general, and the Filipino American community, to sign the petition on line, through this link:

http://www.PetitionOnline.com/FilABC/

We need as many signatures as we can gather to show ABC that we have the number, and that "In Unity, There Is Strength," (borrowing from MANILA-U.S. TIMES' slogan).

Here's what I emailed you earlier:

"Dear Ambassador Gaa:

"The Philippines and the Filipino people have been insulted by some racist remarks in the "Desperate Housewives' TV show" when Susan Mayer Delfino, played by actress Teri Hatcher, stated in its September 30, 2007 broadcast: "Okay, before we go any further, can I check those diplomas? Coz I would just like to make sure they are not from some med school in the Philippines."

"The insult was directly hurled at some med schools in the Philippines, but ultimately, it impacted on every Filipino all over the world.

"I am bringing this to your kind attention so we can officially lodge a formal protest against the Management of the Desperate Housewives TV program for them to apologize publicly to the Filipino people and to the Philippines, and to refrain from making such insulting remarks henceforth.

"Thank you."

New Update

2007-10-02T17:45:00.000+08:00

After a long, long hiatus from blogging my forex activities, I am back again!

Although I stopped posting, I did not stop playing forex. Well, not technically. I have formed a group with some friends, and employ the straight hedging and inverse hedging techniques, and assigned someone from the group to be on top on the daily trading activity. Then, we discuss the results of the trade on a regular basis.

Sometime mid-May, we restarted and reset the portfolio. Pooled our money together and begin our new journey to riches... hahaha! So far, to date, our gain is about 21%, but has a floating loss of about 14%, giving us a running net gain of about 7%. Not spectacular, but definitely better than bank rates!

Also, I have dropped the FreedomRocks subscription, and employ our own version of hedging. So far, the results are encouraging.

Inverse Hedging Trading

2007-04-30T11:11:00.000+08:00

Last week, I have attended a seminar on forex trading that tackles on the technique of Freedom Rocks Hedging style. The main purpose is to time the entry and exit of the trading to optimize the profits.

I thought it was really a "worth the money" seminar, as I can get an online access of the seminar for me to review anytime.

In fact, my latest portfolio entry was based on that. And true enough, within hours, my portfolio turned into positive, wiping out the spread's expense and then I gain some more. Unfortunately, I exited the market a little early last Friday. But just the same, after 3 hours, I have to exit it, according to the charts.

It's very simple, really. And I think any FreedomRocks members can easily understand this seminar. BTW, as I mentioned above, there's also an online recorded webinar that you can enrol, if you are not from Manila. Plus, there's a one-year free email consultation from the author.

You can email me, pinggarcia@gmail.com, and I can give you the email address of the author.

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Portfolio 16

2007-04-30T10:50:00.000+08:00

Portfolio 16

400:1, 10%, 2pairs, mini
EUR/USDm 1.3637
USD/CHFm 1.2010

Opened: April 27, 2007
Closed: April 27, 2007

Portfolio Gain/(Loss): + 3.10%
March MTD Gain/(Loss): + 11.98 %

Portfolio 15

2007-04-25T12:36:00.000+08:00

Portfolio 15

400:1, 20%, 2pairs, mini
EUR/USDm 1.3637
USD/CHFm 1.2010

Opened: April 25, 2007
Closed: April 25, 2007

Portfolio Gain/(Loss): + 0.50%
March MTD Gain/(Loss): + 8.88 %

Portfolio 14

2007-04-23T14:09:00.001+08:00

Portfolio 14

400:1, 8%, 2pairs, mini
EUR/USDm 1.3583
USD/CHFm 1.2077

Opened: April 23, 2007
Closed: April 23, 2007

Portfolio Gain/(Loss): + 0.50%
March MTD Gain/(Loss): + 8.38 %

Portfolio 13

2007-04-18T12:33:00.000+08:00

Portfolio 13

400:1, 20%, 2pairs, mini
EUR/USDm 1.3550
USD/CHFm 1.2127

Opened: April 17, 2007
Closed: April 20, 2007

Portfolio Gain/(Loss): +2.0%
March MTD Gain/(Loss): + 7.88 %

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Portfolio 12

2007-04-13T11:35:00.000+08:00

Portfolio 12

400:1, 5%, 3pairs, mini
EUR/USDm 1.3466
GBP/USDm 1.9781
USD/CHFm 1.2188

Opened: April 12, 2007
Closed: April 16, 2007

Portfolio Gain/(Loss): + 1.03%
March MTD Gain/(Loss): + 5.88 %

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Portfolio 11

2007-04-13T11:24:00.000+08:00

Portfolio 11

400:1, 5%, 3pairs, mini
EUR/USDm 1.3421
GBP/USDm 1.9696
USD/CHFm 1.2204

Opened: April 10, 2007
Closed: April 12, 2007

Portfolio Gain/(Loss): + 2.85%
March MTD Gain/(Loss): + 4.85 %

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FREE US$5 from Marketiva

2007-04-03T10:33:00.000+08:00

Yes, get your ABSOLUTELY FREE US$5 from Marketiva. Just sign up using this link - GET FREE USD$5

That's a nice way to start your forex trading experience. But be sure to arm yourself with enough knowledge before you trade with your own hard-earned money.

Or if you got the money to risk, you can try to trade forex, with ZERO GUESSWORK, by joining FREEDOMROCKS! This is the link, FreedomRocks. Watch the video, get your 15-day free trial, and start trading forex with zero guesswork!

Portfolio 10

2007-04-02T19:34:00.000+08:00

Portfolio 10

400:1, 5%, 4pairs, mini
EUR/USDm 1.3354
GBP/USDm 1.9728
USD/CHFm 1.2147
USD/JPYm 117.79

Opened: April 2, 2007
Closed: April 3, 2007

Portfolio Gain/(Loss): + 2.0%
March MTD Gain/(Loss): + 2.0 %

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Portfolio 9

2007-03-30T21:25:00.000+08:00

Portfolio 9

400:1, 10%, 3pairs, mini
EUR/USDm 1.3313
GBP/USDm 1.9645
USD/CHFm 1.2163

Opened: March 30, 2007
Closed: March 30, 2007

Portfolio Gain/(Loss): + 1.73%
MTD Gain/(Loss): + 1.73%

Learn More, Watch Video - Get 15-day Free Trial
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N.B. - FreedomRocks discourages members to publish our results publicly. If you want more details about my actual returns, you can email me - CLICK HERE!

/eslq-sqq

Update

2007-03-21T09:53:00.000+08:00

I never had the chance to enter trades lately using FreedomRocks, as the market is going down. But in the last few days, the major pairs seems to be on the upswing again. So, I might enter new trades soon.

In the meantime, I am studying traditional forex trading to be used as another "tool" to enchance my timing in opening new trades using FreedomRocks.

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.

February 2007 Summary

2007-03-01T00:01:00.000+08:00

February 2007 Summary

7 portfolios
15.05% gain

Learn More, Watch Video - Get 15-day Free Trial
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N.B. - FreedomRocks discourages members to publish our results publicly. If you want more details about my actual returns, you can email me - CLICK HERE!

/eqq-eekp

Portfolio 8

2007-02-23T23:40:00.000+08:00

Portfolio 8

400:1, 20%, 3pairs, mini
EUR/USDm 1.3126
GBP/USDm 1.9589
USD/CHFm 1.2389

Opened: February 23, 2007
Closed: Floating Loss -75.58%

Portfolio Gain/(Loss): -75.58% Margin Call
March MTD Gain/(Loss): -75.58%

Learn More, Watch Video - Get 15-day Free Trial
Join FreedomRocks - Earn More, be a Representative

N.B. - FreedomRocks discourages members to publish our results publicly. If you want more details about my actual returns, you can email me - CLICK HERE!

/dqgq-egqq

2007-02-19T06:17:00.000+08:00

Interbank FX invites you to attend an online training.

This training will cover the installation and use of the IBFX-Rocks Advisor. This Advisor is used in trading the FreedomRocks system.

Please read the following instructions to prepare you to attend the conference. You may log in to the conference 10-15 minutes before the conference starts. Availability is first come first serve, and is limited to the first 100 logged into the room.

Title: IBFX-Rocks Advisor / Training

Times & Dates:

Tuesday 2/20/2007 8:00 AM PST, 11:00 AM EST

Wednesday 2/21/2007 6:00 PM PST, 9:00 PM EST

You can log into the conference 10-15 minutes early. To Log in go to the link below and follow instructions.

Log-in URL: http://www.instantpresenter.com/interbankfx1 (just log in on the scheduled time and date)

Hints and Tips:

If this is your first time attending an online presentation of this kind, we recommend that you take the system test at http://www.instantpresenter.com/system_test

This will make sure that your computer is ready to go.

1. We recommend using a headset in which the microphone and speakers that have been tested to make sure that they work properly.

2. Turn the headset on before you enter the presentation.

In the rare case that you have any technical difficulties viewing the online presentation, please email support@instantpresenter.com and we will be more than happy to assist you.

Best regards,

Interbank FX Support
www.interbankfx.com
Direct: 866-468-3739

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Live IBFX Accounts

2007-02-15T11:54:00.000+08:00

My request for another IBFX live account have been approved today. Right now, I have with them 2 mini-accounts and 1 standard account.

Like my original plan posted last February 11 here, I plan to use the 2 mini-accounts simulteanously, soon.

Here's the update - some changes, and more detailed plans:

Account 1 - Conservative
BASE ACCOUNT - 75%
2-pair (EURUSD/USDCHF)
400:1 leverage
10% Margin
2%-5% (Trailing Stop at 1%)

Account 2 - Aggressive
SMALL ACCOUNT - 25%
3- or 4- pairs
400:1 leverage
10% Margin
8% and up (Trailing Stop at 2%)

The plan is to open portfolios with a slim 10% margin to avoid the dreaded margin call. Then, if the market moves against our hedging, and went down to about 8%-10%, I will open another similar pairs with the same margin, and try to see if they can average out, and reach my profit target for the portfolio. Special thanks to the experience of "gr8collector" from PMT.

As it is, my monthly target stands at 10% from the beginning of the month, and to be compounded quarterly. Then probably, reset and cash out a little each quarter.

In the meantime, I will still use my mini-account, until it is sufficient enough, then I will use the other mini-account. In less than a year's time, if my mini-accounts will be "BIG" enough, that's the time I will use my standard account!

Wishful thinking? Hope not! With the help of FreedomRocks Hedging Software, and 3 months of intensive personal demo trade experience, I am hopeful everything will go along smoothly as planned.

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Portfolio 7a

2007-02-15T08:46:00.001+08:00

Portfolio 7a

400:1, 20%, 2pairs, mini
EUR/USDm 1.3132
USD/CHFm 1.2395

Opened: February 15, 2007
Closed: February 21, 2007

Portfolio Gain/(Loss): + 0.13%
MTD Gain/(Loss): + 15.05%

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N.B. - FreedomRocks discourages members to publish our results publicly. If you want more details about my actual returns, you can email me - CLICK HERE!

/eslq-sqq

Portfolio 6a

2007-02-13T21:54:00.000+08:00

Portfolio 6a

400:1, 20%, 2pairs, mini
GBP/USDm 1.9430
USD/JPYm 121.48

Opened: February 13, 2007
Closed: February 14, 2007

Portfolio Gain/(Loss): 1.65%
MTD Gain/(Loss): + 10.99%

Learn More, Watch Video - Get 15-day Free Trial
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N.B. - FreedomRocks discourages members to publish our results publicly. If you want more details about my actual returns, you can email me - CLICK HERE!

/esqk-dqq

Portfolio 5a

2007-02-13T21:53:00.000+08:00

Portfolio 5a

400:1, 20%, 3pairs, mini
EUR/USDm 1.2990
GBP/USDm 1.9502
USD/JPYm 121.45

Opened: February 13, 2007
Closed: February 15, 2007

Portfolio Gain/(Loss): 2.61%
MTD Gain/(Loss): + 13.61%

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N.B. - FreedomRocks discourages members to publish our results publicly. If you want more details about my actual returns, you can email me - CLICK HERE!

/esqk-sqq

Portfolio 4a

2007-02-13T14:08:00.000+08:00

Portfolio 4a

400:1, 20%, 2pairs, mini
EUR/USDm 1.2964
USD/JPYm 121.44

Opened: February 13, 2007
Closed: February 13, 2007

Portfolio Gain/(Loss): +2.78%
MTD Gain/(Loss): + 9.34%

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N.B. - FreedomRocks discourages members to publish our results publicly. If you want more details about my actual returns, you can email me - CLICK HERE!

/edtl-dqq

Portfolio 3a

2007-02-12T20:51:00.000+08:00

Portfolio 3a
400:1, 20%, 4pairs, mini

EUR/USDm 1.3019
GBP/USDm 1.9530
USD/CHFm 1.2480
USD/JPYm 121.97

Opened: February 12, 2007
Closed: February 22, 2007

Portfolio Gain/(Loss): + 1.21%
MTD Gain/(Loss): + 14.92%

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N.B. - FreedomRocks discourages members to publish our results publicly. If you want more details about my actual returns, you can email me - CLICK HERE!

/edtl-sqq

Never Go "ALL IN"

2007-02-12T07:45:00.001+08:00

By Charles Delvalle

I see this mistake all the time: A new trader wants to make big money on a "hot" stock, so he lays down a position that is too large. But all it takes is one mistake... and he can lose most of his trading capital.

Let's say you start with $10,000 in your account, and you put all of your trading capital into each of a series of four trades:

You make 20 percent in your first trade, so now you have $12,000.
You make 30 percent on your second trade, so now you have $15,600.
You make another 20 percent on your third trade, so now you're up to a whopping $18,720.
But then, on your fourth trade, you take a big loss. The company you've invested in reports a lawsuit, and the stock tanks 80 percent. Now you're down to $3,744 - $6,256 less than the $10,000 you started with.
My advice to a new trader who doesn't have a lot of start-up capital is to never put more than 20 percent of his trading capital on any one position - no matter how "hot" the stock seems to be. Let me show you how that would work in the example above:

On your first trade, you would make $400.
On your second trade you would make $624.
On your third trade, you would make $440.
And on that fourth - disastrous - trade, you would lose $1,834.
But you would still have $9,630 in your account, instead of a measly $3,744. In other words, by using no more than 20 percent of your trading capital on each position, you could still take a big loss and have the money to trade another day.

This asset allocation works differently if you are an investor with over $100,000. At that point, you should dedicate no more than 4-5 percent to any single trade.

[Ed. Note: Charles Delvalle is a contributing editor to ETR's Investor's Daily Edge newsletter.]
http://earlytorise.com/archive/html/120906-2.html#brief1

Lifted from the post of rma2003 at PMT, http://www.pinoymoneytalk.com/forum/index.php?topic=5083.0

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FreedomRocks Webinars Schedule

2007-02-12T06:19:00.001+08:00

Here's what's happening TODAY, Thursday, February 8th!

2:00 pm EST FreedomRocks Product Presentation (Host: Yo Fujikawa, OR)
6:00 pm EST Secrets of Online Marketing Success (Host: Yo Fujikawa, OR)
7:00 pm EST Compliance Training (Host: Carole Noxon, UT)
8:00 pm EST FreedomRocks Product Presentation (Host: Carole Noxon, UT)
9:00 pm EST FreedomRocks Forex Q&A Call (Host: Mark Vincellette, NV)

This is a CONFERENCE CALL 212-812-2800, code: 3320 7435

Remember, our conference room has just 25 seats available, so please BE PROMPT.

Click HERE to enter our TEAM conference room.

In addition to our TEAM webinars, FreedomRocks offers the following trainings:
Portfolio Allocator Intensive 12:15 pm EST (9:15 am Pacific)
Setting up your Initial Portfolio with GFT 1:00 pm EST (10:00 am Pacific)
Resetting your GFT Portfolio 1:45 pm EST (10:45 am Pacific)
Setting up your Initial Portfolio using MetaTrader 2:30 pm EST (11:30 am Pacific)
Resetting your MetaTrader 4.0 Portfolio 3:15 pm EST (12:15 pm Pacific)

Click HERE to enter the FreedomRocks web conference room.

Disclaimer:Forex trading is a high-risk investment. Past performance is no guarantee of future results. You should only invest "Risk Capital" and never with money you cannot afford to lose.

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Calculating Correlations Yourself

2007-02-11T16:26:00.000+08:00

The best way to keep current on the direction and strength of your correlation pairings is to calculate them yourself. This may sound difficult, but it's actually quite simple.

To calculate a simple correlation, just use a spreadsheet, like Microsoft Excel. Many charting packages (even some free ones) allow you to download historical daily currency prices, which you can then transport into Excel. In Excel, just use the correlation function, which is =CORREL(range 1, range 2). The one-year, six-, three- and one-month trailing readings give the most comprehensive view of the similarities and differences in correlation over time; however, you can decide for yourself which or how many of these readings you want to analyze.

Here is the correlation-calculation process reviewed step by step:

1. Get the pricing data for your two currency pairs; say they are GBP/USD and USD/JPY
2. Make two individual columns, each labeled with one of these pairs. Then fill in the columns with the past daily prices that occurred for each pair over the time period you are analyzing
3. At the bottom of the one of the columns, in an empty slot, type in =CORREL(
4. Highlight all of the data in one of the pricing columns; you should get a range of cells in the formula box.
5. Type in comma
6. Repeat steps 3-5 for the other currency
7. Close the formula so that it looks like =CORREL(A1:A50,B1:B50)
8. The number that is produced represents the correlation between the two currency pairs.

* source - http://www.investopedia.com/articles/forex/05/051905.asp

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Using Currency Correlation to Your Advantage

2007-02-11T15:33:00.000+08:00

Correlation, in the financial world, is the statistical measure of the relationship between two securities. The correlation coefficient ranges between -1 and +1. A correlation of +1 implies that the two currency pairs will move in the same direction 100% of the time. A correlation of -1 implies the two currency pairs will move in the opposite direction 100% of the time. A correlation of zero implies that the relationship between the currency pairs is completely random.

The reason for the interdependence of currency pairs is easy to see: if you were trading the British pound against the Japanese yen (GBP/JPY pair), for example, you are actually trading a kind of derivative of the GBP/USD and USD/JPY pairs; therefore, GBP/JPY must be somewhat correlated to one if not both of these other currency pairs. However, the interdependence among currencies stems from more than the simple fact that they are in pairs. While some currency pairs will move in tandem, other currency pairs may move in opposite directions, which is in essence the result of more complex forces.

I found a site wherein there is a daily update of the currencies correlation. It might be useful for those who are into traditional forex trading.

The link is http://www.mataf.net/en/analysis-correlation.htm, I have added this in the list of Forex Related Links.

As for me, since I am using FreedomRocks Software, this will also be a good guide maybe, to signal if I am willing to risk if I see the current correlation a little off the usual.

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Another IBFX Mini Account

2007-02-11T14:28:00.000+08:00

I have requested to open another IBFX mini-account. My plan is to open 2 different types of trades with different approaches.

Account 1 - Conservative
BASE ACCOUNT
2- or 3- pairs
400:1 leverage
10%-15% Margin
2%-3% Target Profit

Account 2 - Aggressive
SMALL ACCOUNT
3- or 4- pairs
400:1 leverage
15% - 20% Margin
5% and up Target Profit (depending on my level of greediness during that day)

Of course, with either conservative or aggressive approach, every trade will be guided by my FreedomRocks Portfolio Manager.

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Portfolio 2

2007-02-09T08:16:00.000+08:00

Portfolio 2
400:1, 10%, 3pairs, mini

EUR/USDm 1.3041
GBP/USDm 1.9588
USD/CHFm 1.2462

Opened: February 8, 2007
Closed: February 21, 2007

Portfolio Gain/(Loss): 0.10%
MTD Gain/(Loss): + 13.71%

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N.B. - FreedomRocks discourages members to publish our results publicly. If you want more details about my actual returns, you can email me - CLICK HERE!

/edtl

IBFX Mini Account

2007-02-09T07:13:00.000+08:00

I have requested to change my standard account at InterbankFX, into mini account. I was told the request might take 1-2 business days. In the meantime, I can not open a new portfolio , as this may cause delay in the transfer process.

However, I was told by the LIVE SUPPORT at IBFX, that they have receive my transfer application, and will try to fast track it as soon as possible. Maybe just in time for me to open new positions just before the market closes this weekend.

On another matter, although I have did get any confirmation from FreedomRocks yet, I read that they are discouraging members to publish their trading results publicly. Therefore, I have edited my blog.

However, if you are interested in the details of how my forex trading with FreedomRocks Hedging Software is doing, or have any questions on how FreedomRocks portfolio manager is all about, feel free to email me (click here), and I'll find time to reply to your inquiry as soon as possible.

UPDATE: In less than 12 hours, my mini account has been activated! Kudos to IBFX! I will be opening my Portfolio 2 soon enough.

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Portfolio 1

2007-02-03T00:59:00.000+08:00

Portfolio 1
400:1, 10%, 3pairs, standard

EUR/USD 1.2966
GBP/USD 1.9670
USD/CHF 1.2468

Opened: February 2, 2007
Closed: February 8, 2007

Portfolio Gain/(Loss): + 6.56%
MTD Gain/(Loss): + 6.56%

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N.B. - FreedomRocks discourages members to publish our results publicly. If you want more details about my actual returns, you can email me - CLICK HERE!

/eekp

Forex and FreedomRocks Concept

2007-02-02T08:25:00.000+08:00

The FOREX market trades an astounding TWO TRILLION dollars a day! This is far bigger than the NYSE and the NASDAQ combined. To get a sense of just how big this is, consider that the budget of the United States of America for one year just came in at 2.7 TRILLION dollars.

Instead of trading stocks in a company, the FOREX market trades currencies of different countries.There are many things that can affect the value of a currency including current events, economic announcements, interest rates, and basic supply & demand. Because of these many factors the FOREX market is in constant motion, sometimes with large swings.

This volatility has generally made the FOREX too risky for the small investor, mainly attracting professional investors and large institutions. However, when done properly there are number of advantages to trading in the FOREX:

Open 24 hours/day - Sunday Through Friday
FreedomRocks focuses on just four (4) currency pairs vs. the many THOUSANDS of stocks available.
Free demo (practice) accounts.
Leverage up to 400:1 (control a large amount with a little money)
Because you are trading currencies, with properly optimized FOREX positions you actually have daily interest as an income stream.

FreedomRocks has created a sophisticated yet simple-to-use software package & system that lets you take advantage of these FOREX characteristics. With the structured trading approach of FreedomRocks, you will have recommendations for what to buy & how to optimize your portfolio. Our software can help REDUCE YOUR RISK, while at the same time INCREASE your profit potential - a RARE occurrence in the investment world!

With FreedomRocks structured trading approach, you no longer have to guess what & when to buy! Instead, you follow a planned set of guidelines, and our software's recommended analysis.

Benefits of the FreedomRocks Hedging System:

Requires no prior trading experience;
Requires no research;
No charts or graphs to read;
Analyzes your positions and provides you BUY & SELL points
Practice with live trades in the market, for as long as you like, without risking a penny;
Includes step-by-step instructions and screenshots showing exactly what your trades will look like;
Takes just a few minutes per week to manage a portfolio of any size;
Provides structure to your trading approach, helping you set up a balanced portfolio & suggesting BUY & SELL points for your positions;
Alerts you by text message or email when your trades execute, so there is no need to monitor your progress throughout the day and there is no risk of you missing a trading opportunity;
Allows you to balance your portfolio to earn varying rates of interest on your account.

Disclaimer:Forex trading is a high-risk investment. Past performance is no guarantee of future results. You should only invest "Risk Capital" and never with money you cannot afford to lose.

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My Own Forex Blogsite

2007-01-30T07:36:00.000+08:00

I have created this blog to make a record of my live forex trading. Like most of the average people out there, I am no expert in forex trading. In fact, 2-3 months ago, I have ZERO knowledge on how forex trading works.

After taking down a few notes here and there, forex trading seems to be an interesting stuff. It seems to be profitable, but dangerous!!! Then, I read from PinoyMoneyTalk forum regarding the FreedomRocks trading software. I tested it, and with the help of members/posters at the forum, I get to understand how it works!

The good thing about FR is they will give you a demo account for 15 days to try and see how it works. Combine it with demo trade account at a forex broker of your choice, you'll see how powerful and efficient FR works. It basically makes its profit from carry trading and hedging. Too simple, I call it DO-IT-YOURSELF FOREX TRADING.

You, too, can try on how to trade forex hedging, the easy way - the Freedom Rocks Do-It-Yourself way! Click here for more details on how to get your own free 15-day trial account!

In the next few days, I will be trading live. I am just waiting for my FR code, so I can open a live account at InterbankFX, one of the recommended brokers of FR.

I will keep an update of my live portfolio. I am sure everything will turn out as how my demo did. My plan is to hedge 3 pairs, EUR/USD, GBP/USD, and USD/CHF, 400:1 leverage, 10% margin. Monthly target is 10% return.

UPDATE: After less than 15 hours, my funds was accepted, and I am ready to go live!

Disclaimer:Forex trading is a high-risk investment. Past performance is no guarantee of future results. You should only invest "Risk Capital" and never with money you cannot afford to lose.

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