Forex

currency forex inurl resource trading

2007-12-09T20:15:00.000-08:00

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A Pioneer in Currency Trading Shares his Vast Knowledge in New Coursebook

2007-12-02T20:34:00.000-08:00

pioneer in currency trading shares his vast knowledge
The Forex Trading Course is a practical, hands-on guide to mastering currency trading. This book is designed to build an aspiring trader's knowledge base in a step-by-step manner-with each major section followed by a thorough question-and-answer section to ensure mastery of the material. Written in a straightforward and accessible style, The Forex Trading Course outlines a practical way to integrate fundamental and technical analysis to identify high probability patterns and trades; and reveals how to develop a trading plan and appropriate strategies for different size trading accounts; how to control emotions and use emotional intelligence to improve trading performance; and much more. Filled with in-depth insight and practical advice, The Forex Trading Course will prepare readers for the realities of currency trading, and help them evolve and achieve success in this dynamic market.
The Forex Trading Course is a practical, hands-on guide to mastering currency trading. The workbook is designed to build an aspiring traders knowledge in a step-by-step manner with each major section followed by a thorough question-and-answer section to ensure mastery of the material. The major sections include:
(1) an explanation of the economic forces driving the currency market and how a trader should interpret events to develop a fundamental outlook
(2) how to use technical analysis to time trades
(3) how to master and control emotions that are involved in trading
(4) how to develop a trading plan and appropriate strategies for different sized trading accounts
(5) how to prepare completely for the realities of trading, prior to putting money at risk.
The goal of the book is to give a trader the knowledge and experiences required to be completely prepared to trade.
About the author:
Abe Cofnas has been the forex trading columnist for Futures magazine since 2001. He formed one of the first Web-based interactive training sites devoted to forex trading—in 2001 as well. Cofnas is also the founder of a forex education and entertainment company.
Foreword.
Preface.
Acknowledgments.
About the Author.
Part One. What Drives the Forex Market?
Chapter 1. The Fundamentals of Forex.
Chapter 2. The Role of Inflation.
Chapter 3. Exploiting Information About Economic Growth.
Chapter 4. The China Factor.
Chapter 5. The Commodities Connection.
Chapter 6. How Business Confidence and Consumer Sentiment Affects the Market.
Chapter 7. Fundamental Personalities of Currencies.
Chapter 8. The Personality and Performance of the US Dollar.
Chapter 9. Conducting Your Own Fundamental Analysis.
Part Two. Timing the Trade with Technical Analysis.
Chapter 10. Mapping Price Action.
Chapter 11. Finding Significant Support and Resistance.
Chapter 12. Volatility in Forex and Its Dimensions.
Chapter 13. Chart Formations and Price Patterns You Should Know.
Chapter 14. Trading Styles and Setups.
Chapter 15. Alternative Set Ups and Trading Strategies.
Part Three. Putting It Together.
Chapter 16. The Right Way To Use Simulation Accounts.
Chapter 17. Strategies and Challenges for Different Account Sizes.
Chapter 18. The Path to Success in Forex Trading.
Chapter 19. Test Your Forex IQ.

CORRECTING and REPLACING AB Watley Announces ''Ultimate FX,'' Offered Through FX Solutions

2007-12-02T20:33:00.001-08:00

CORRECTION...AB Watley Group, Inc.
NEW YORK--(BUSINESS WIRE)--Please replace the release with the following corrected version due to multiple revisions.
The corrected release reads:
AB Watley Announces ''Ultimate FX,'' Offered Through FX Solutions
AB Watley Group, Inc. (Pink Sheets: ABWG) is pleased to announce its new "Ultimate FX" trading platform designed for retail and professional currency traders. AB Watley has spent the last few months developing a strategic relationship with FX Solutions LLC of Saddle River, New Jersey. As a result, AB Watley will offer one of the most powerful global Forex trading platforms available. The platform will feature a proprietary price feed, advanced hedging functionality, FLEXI Leverage, FLEXI Contracts, multiple stops and limits, Market News International, multiple charting solutions and sophisticated risk management capability. The "Ultimate FX" trading platform gives foreign exchange traders critically important advantages including One-Click Trading, ten trading screen layouts, a combined margin-pip-premium calculator, and an audible price alarm.
Foreign exchange trading is the simultaneous buying of one currency and selling of another. The foreign exchange market (Forex or FX) is the largest financial market in the world with a daily turnover of over $2.6 trillion. Examples of currency trading pairs are Euro/US Dollar (EUR/USD) and US Dollar/Japanese Yen (USD/JPY). Most currency transactions involve the "Majors" - US Dollar, Euro, Japanese Yen, British Pound, Swiss Franc, Canadian Dollar and Australian Dollar.
Unlike most financial markets, the foreign exchange market has no physical location and no central exchange. The Forex market operates 24 hours a day through an electronic network of banks, corporations and individual traders. Forex trading begins every day in Sydney, then moves to Tokyo, followed by London and then New York. The major market makers, or dealers, consist of the commercial and investment banks, and registered futures commission merchants (FCMs) such as FX Solutions. FX Solutions' dealing desk is open 24-hours a day from Sunday 16:00 to Friday 16:30 Eastern Time.
Clients of AB Watley Group’s broker dealer subsidiary, AB Watley Direct, have been asking for access to the global currency markets. Through its relationship with FX Solutions, AB Watley Direct is proud to be able to offer a world-class capability for FX trading that will compliment the current online trading offerings of Direct. The foreign exchange markets operate round-the-clock during trading days and offer traders and investors buying and selling opportunities in up, down and sideways markets. Interest in such markets is exploding. Inquiries concerning FX should be directed to AB Watley Direct’s customer service at 888-733-9000. Management feels confident that by adding a FOREX trading solution to their product offerings, it will result in positive benefits for AB Watley Direct’s client base, as well as on reported earnings. For more information about the FX platform,
Daniel Darst, executive director at FX Solutions, commented, "We’re delighted to welcome AB Watley Direct on board. Their strong marketplace savvy combined with their deep experience in working with direct clients and self-directed traders should translate into a successful relationship and a great offering to the client.”
About AB Watley Group, Inc.
Headquartered in New York City, A. B. Watley Group Inc. (ABWG.PK) is a provider of online financial services through its wholly owned subsidiary, A.B. Watley Direct, Inc., a broker-dealer registered with the Financial Industry Regulatory Authority, Inc. (FINRA) and a SIPC member. Offering a comprehensive range of services, and developed for the most demanding equities and options traders, ABWG is positioned to attract the most diverse range of investors and traders -- from the average investor to the most sophisticated retail and/or institutional stock trader.
About FX Solutions
FX Solutions, LLC was founded in 2001 by two foreign exchange veterans with over 50 years combined experience. The Company is a leading online foreign exchange (Forex) broker, operating as a market-maker to retail and institutional clients. With its focus on advanced trading technology solutions, the firm serves retail clients, white label partners, institutional trading partners, introducing brokers, fund managers and their clients. Leveraging its proprietary interbank market feed, a custom-built Global Trading System (GTS) and fully-automated customer service, FX Solutions sets high standards for execution speed, price transparency and efficient client management.
Certain matters described in this news release may be forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to, the risk of dependence on market growth, competition and dependence on government agencies and other third parties for funding contract.

overview

2007-11-29T20:56:00.000-08:00

An overview of the Forex marketThe Forex market is a non-stop cash market where currencies of nations are traded, typically via brokers. Foreign currencies are constantly and simultaneously bought and sold across local and global markets and traders' investments increase or decrease in value based upon currency movements. Foreign exchange market conditions can change at any time in response to real-time events.
The main enticements of currency dealing to private investors and attractions for short-term Forex trading are:
24-hour trading, 5 days a week with non-stop access to global Forex dealers.
An enormous liquid market making it easy to trade most currencies.
Volatile markets offering profit opportunities.
Standard instruments for controlling risk exposure.
The ability to profit in rising or falling markets.
Leveraged trading with low margin requirements.
Many options for zero commission trading.
Forex tradingThe investor's goal in Forex trading is to profit from foreign currency movements. Forex trading or currency trading is always done in currency pairs. For example, the exchange rate of EUR/USD on Aug 26th, 2003 was 1.0857. This number is also referred to as a "Forex rate" or just "rate" for short. If the investor had bought 1000 euros on that date, he would have paid 1085.70 U.S. dollars. One year later, the Forex rate was 1.2083, which means that the value of the euro (the numerator of the EUR/USD ratio) increased in relation to the U.S. dollar. The investor could now sell the 1000 euros in order to receive 1208.30 dollars. Therefore, the investor would have USD 122.60 more than what he had started one year earlier. However, to know if the investor made a good investment, one needs to compare this investment option to alternative investments. At the very minimum, the return on investment (ROI) should be compared to the return on a "risk-free" investment. One example of a risk-free investment is long-term U.S. government bonds since there is practically no chance for a default, i.e. the U.S. government going bankrupt or being unable or unwilling to pay its debt obligation.
When trading currencies, trade only when you expect the currency you are buying to increase in value relative to the currency you are selling. If the currency you are buying does increase in value, you must sell back the other currency in order to lock in a profit. An open trade (also called an open position) is a trade in which a trader has bought or sold a particular currency pair and has not yet sold or bought back the equivalent amount to close the position.
However, it is estimated that anywhere from 70%-90% of the FX market is speculative. In other words, the person or institution that bought or sold the currency has no plan to actually take delivery of the currency in the end; rather, they were solely speculating on the movement of that particular currency.

Wining Forex system

2007-11-27T21:31:00.000-08:00

When analyzing a system you should take into consideration several factors. Many times the excitement and anxiousness to get started in a new investment makes people overlook basic things. Some years ago a study revealed that people spent more time shopping for a new TV than to decide which fund to invest in. While choosing the right TV is important, is the correct investment decision which will allow you (or not) to continue shopping for gadgets in the future, so you should not overlook the source.
The most common reasons why systems and strategies fail:
System only works for one currency pair: usually a bad sign. A logic and robust system will work on all or most currency pairs, of course will work better in some and worse in others, but should still work. Working on 1 or 2 currency pairs usually means the system is curve fitted, or is only able to trade in specific currency conditions, as soon as the currency change its behavior it will stop working. Our system trades 6 different pairs with consistent results. We choose the mix based on correlation between the pairs, daily swap paid and historical drawdowns.
Systems with +90% of win rate: is very difficult to obtain those results if not curve fitted or only few samples in the data. While newbies are attracted to this high win rate, usually means that as soon as the rate falls to 70% or 80% the win/loss ratio is not enough for the system to maintain. Our system has a 65%-75% win rate, delivering robust results.
Small sample data backtested: amount of data and trading frequency must be relevant. If you find a system that in the past 3 years produced 20 trades is probably not too relevant from a statistic point of view. The more trades generated means more relevancy. Also 6 or 12 months of data is not enough, you need to test the system against years and years of data to show the consistency in different market conditions. Our system was generated with more than 8 years of past data, and more than 2000 trades in the analysis.
Subjective or emotional criteria involved: very common problem. In the past is always easy to guess what "was" the best action to take, as the old saying reads ...hindsight is always 20/20. However, in real time emotions make it hard to take the right decision. Our system has no emotional or subjective criteria to generate the trades.
Not considering the impact of spreads and swaps: a pip here and there in every trade weights towards the end of year. Spread is where the broker makes it cut, so they must be factored in the system. Swap/Interest plays an important role, use them to your advantage. All our pairs are swap/interest positive, meaning that for every day holding the trades you will receive positive interest. Consider it as a bonus for holding the trades a few days.
Not considering real drawdown: in order to know your capital requirements you must know the system drawdown figure. Always stay in control of your account, that means never overeager it. When you over leverage it you pass the control of your account to the market swings and the broker who may liquidate your account if you margin falls below the requirements. You can trade our with low leverage, adjust the margin to your risk tolerance and depending if you trade more systems at the same time in your account.
We suggest to trade all pairs, since winners and losers will tend to compensate. However, is important to understand each pair characteristic and how they impact the system. We choose to show ALL available performance history, and not just the latest months. As much information as possible help our customers to make better decisions:
Stats for the latest 8 years for the six pairs traded by PipsExpert:
EUR/USD

Number of lots per trade
2
Profit Factor
3.85
Win Rate
77%
Avg Days in Trade
2
Worst drawdown (pips)
419
Comments
One of the most stable, liquid and consistent trading pair for PipsExpert system. If you prefer to start with only one pair then Eur/Usd would be the best choice. While interest/swap received is low, its usually a very stable pair.

GBP/CHF

Number of lots per trade
1
Profit Factor
2.56
Win Rate
81%
Avg Days in Trade
4
Worst drawdown (pips)
780
Comments
Another steady performer and excellent swap/interest paid for holding it. Is more volatile than Eur/Usd but also more profitable. Be aware that this pair, like Gbp/Jpy, is the choice for carry traders. That means when market conditions start to get volatile this pair will move according.

Forex System Trading Formula

2007-11-27T21:29:00.001-08:00

If You Would Like The Secret Forex System Trading Formula That Only A Handful Of Trader's Know About, Then Here's Your Shortcut Guide To Forex Trading Success!

Fact: The Forex is by far the largest & most liquid market in the world. With over 1.4 trillion dollars traded & 100:1 leverage…You need to read this article!

If you already know only a little about Forex System Trading click the link above... If you don't know anything about Forex trading, I recommend you first read the article below:Forex, short for foreign exchange, is trading where the commodity is not stocks or shares, but currency.
Not only does this market trade 24 hours, but the daily volume exceeds $1.4 trillion, making it the largest and most liquid market in the world. Unlike other financial markets, the forex market has no physical location or central exchange. It is an over-the-counter market where buyers and sellers including banks, corporations, and private investors conduct business.
Foreign exchange trading takes place in financial trading centers all over the world, including New York, London, and Tokyo creating one cohesive, international market. The huge number and diversity of players involved make it difficult for even governments to control the direction of the market. The unmatched liquidity and around-the-clock global activity make forex the ideal market for active traders.
In the forex market currencies are always priced in pairs; therefore all trades result in the simultaneous buying of one currency and the selling of another. The trick in the black art that is Forex System Trading is accurately forecasting the direction of the fluctuation between two currencies. So how do you make money withForex System Trading?For example, suppose you had $100 and bought Euros when the exchange rate was two Euros to the dollar. You would then have 200 Euros. If the value of Euros against the US dollar increased then you would sell (exchange) your Euros for dollars and have more dollars than you started with. This scenario, simple as it is, is the nub of Forex trading – buying and selling currency when exchange rates move in the right direction.
Now, all this sound fine and dandy,but what are the risks of Forex System Trading? Surprisingly, compared with other money market trades, the sheer scale of the Forex market ensures greater price stability and better leverage. With built-in protection in the form of automatic limits for buying and selling, safety margins and other risk protection measures the likelihood of ending up in the red even when the Forex market is volatile is infinitely reduced. But all Forex traders should note that the market is one of the most liquid around and subject to strong currency trends. While leverage figures of 100:1 are often times quoted, without adequate risk protection in place the pendulum swing between profit and loss can be stark. Even veteran Forex System traders can be caught out and take large hits from time to time. With this type of investor speculation, the golden rule must be: don’t risk what you can’t afford to lose.

forex trading news

2007-11-25T23:18:00.000-08:00

New Forex Search Engine ForexSearchEngine.net is the first search engine that has been designed to focus on information for forex traders. If you want to learn forex or you want to find a forex cour...

As they say currency markets don't get much sleep and how could they when they have to handle trillion of dollars everyday. Yes, currency trading is by far the biggest and perhaps the most interesting investment market in the world. In the past years, making use of mechanical currency trading systems has really picked up. These currency trading systems actually allow traders to analyze and predict movements in the markets.

This may sound obvious but many traders simply don't know and lose.
Lets find out exactly what moves prices and why and how you can take advantage.
Understand the following equation
Supply and Demand Fundamentals + Trader Psychology = Price movement
Prices are not simply a tug of war between supply and demand. As humans we put a value on the market and this is the unpredictable part of the equation.
When considering trader psychology keep in mind that it is humans that determine the price of anything, based upon how they see the facts.
Why is this important?
It's important because its humans that drive prices, with the emotions of greed and fear to the fore. It is the human element that you need to consider when trading the markets.
So how do you do it?
The obvious answer in FOREX trading is to use a system based upon technical analysis, simply follow charts and let them tell you which way prices will go.
As with today's fundamentals are instantly discounted in the price the news and data wont help you - understanding trader psychology will.
Technical analysis acts as a way of studying the fundamentals, as it assumes that all the fundamentals are discounted by the market and will show up instantly in price action.
Charts do something much more - they show up the long term repetitiveness of human nature.
Unpredictable in the short term, but over the longer term certain reliable chart patterns can be spotted that are a reflection of repetitive human psychology.
Now consider this:
Each trillions of dollars are traded in the markets, by numerous participants and while in the short term these participants can be unpredictable, in the longer term human nature is constant and chart patterns repeat.
How to trade
When trading don't fall for the day trading story.
All short term moves are random and you can prove this by asking any day trader for a long term track record of REAL profits made in trading.
Ask for one and you won't get one.
Many new traders try and trade short term but as you can see above its why they lose.
You need to trade longer term and we would suggest using the weekly chart to spot the long term trend ( currency trends tend to last for months or even years) and then time your entry on the daily chart.
If you understand what we have just discussed you will see that a long term technical approach to trading is the best way to make long term profits from Forex trading.

Japan to watch 'with interest' China's new forex system: MOF

2007-11-25T23:13:00.000-08:00

Japan to watch 'with interest' China's new forex system: MOF

The Japanese government will watch ''with interest'' how China runs its newly adopted managed float system for the yuan, China's currency, a senior Finance Ministry official said Monday.
Vice Finance Minister Koichi Hosokawa said at a news conference China's scrapping of its fixed exchange system Thursday was an ''appropriate measure'' given the country's growing clout in the global economy.
The People's Bank of China said Thursday it scrapped the yuan's 11-year-old peg to the U.S. dollar, allowing the yuan, also known as renminbi, to float against a basket of other currencies.
The yuan was revalued to 8.11 to the dollar from the fixed rate of 8.28.

Critics had said the dollar-peg kept the yuan artificially low, giving Chinese exports an unfair trade advantage.

forex books

2007-11-12T23:23:00.001-08:00

Technical Analysis Applications in the Global Currency Marketsby Cornelius Luca
Now updated and revised with all new charts and key information on the euro. The introduction of the euro and the recent explosion of electronic trading has changed the outlook of the foreign exchange market dramatically. Global currency trading offers staggering rewards for those with the knowledge to capitalize on it.
This updated guide provides an easy-to-follow roadmap for beginners and experienced traders alike on how to use technical analysis-with revised charts and graphs-to cash in on these enormous opportunities.
The only guide of its kind to focus solely on all aspects of technical analysis, Luca explains and illustrates:
* The fundamentals of technical analysis and how it applies to foreign exchange What one must learn about trends and trend patterns* How the major players in foreign exchange analyze their charts* The quantitative methods of analysis-including all types of moving averages, oscillators, and other indicators
This book provides a thorough, yet easy-to-grasp explanation and analysis of point and figure charting, candlestick charting, the Gann methods, and the Elliot Wave principle. Also included is an updated CD-ROM that lets readers test the methods presented and apply them to real trading-and quickly increase proficiency in charting and chart analysis.

An Introduction to Foreign Exchange & Money Marketsby UK London Reuters Limited
A new concept in financial education training - The Reuters Financial Training Series: An Introduction to Foreign Exchange & Money Markets, will guide novices through the intricacies of the world's wealthiest capital exchange markets. This book sets out to give a clear understanding of how and why these markets function, and explains the associated jargon. Readers will be able to take a more detailed look at Money Market and Foreign Exchange instruments and will be able to examine, in particular, the parameters which must be defined in order to place a value on these instruments, together with basic valuation techniques.

Currency Strategyby Callum Henderson
Currency Strategy develops new techniques and explains classic tools available for predicting, managing, and optimizing fluctuations in the currency markets. Author Callum Henderson shows readers how traditional macroeconomic theory has repeatedly failed in the face of practical experience in these markets and develops a new approach based on experience. He draws on the technical expertise of his bank to develop mathematical models to assist in the prediction of crises and gives practical advice on how to use these and other tools successfully.

Currency Tradingby Philip Gotthelf
The first and last word on trading within currency markets. Expert trading veteran Philip Gotthelf provides the first comprehensive guide to currency speculation aimed toward the average investor. Combining fundamental and technical analysis, this book teaches traders how to take advantage of fluctuations within the currency markets and capture enormous gains. Currency Trading takes the latest developments in the FOREX market and provides readers with a complete trading plan.

forex business

2007-11-12T23:21:00.000-08:00

For the last three decades Foreign Exchange market - briefly Forex or FX, had integrated into the world's biggest financial market. The volume of daily transactions is about 1-3 trillion of US dollars. The trading instruments on this market are the currencies of different countries, so the fluctuation of currency's rates allows to gain a real profit.
Of course monetary assets of different countries exchanged since the term money appeared as well as an idea to obtain profit from currency's rates difference. Now it is not a new idea, but the transformation of foreign exchange market to the modern stage with an opportunity to conduct conversional operations of such volumes arose only after an introduction of floating rates regime by the state-members of IMF. Within this regime's framework the rate of one currency to another is defining only by the supply and demand on the market.
Presently Forex market is a global telecommunication network of banks and different financial organizations. It does not have any fixed trading place and time restrictions - the trade starts on Monday morning in New Zealand and closes on Friday evening in USA
The advantages of Forex market are:
Round-the-clock trading access: the ability to trade for 24 hours a day;
Liquidity: the market works with a huge money and gives the customers complete freedom to open or close their position of different volume;
Leverage: an ability to use leverage. It decreases requirements to the sum of the initial deposit (margin trade). So in case you deposit 10 000 USD into your account you'd have an opportunity to work with 1 000 000 USD (leverage 1:100);
Objectivity: no exterior regulated structures, so the currency's rate is establishing in accordance with current supply and demand on the market;
Globality: everyone can become a market participant irrespective to the living place, as trading requires only your skills and Internet access.
At present mostly all the operations on the market are conducting only to obtain profit. With the development of Internet and other means of communication this sector of the financial markets becomes more accessible and attractive for the investors of different levels.

Euro Zone..

2007-11-06T20:14:00.000-08:00

The Euro Zone:
The Euro Zone comprises the following countries:
Austria
Belgium
Finland
France
Germany
Greece
Ireland
Italy
Luxembourg
Netherlands
Portugal
Slovenia
Spain
Thus 13 of the Member States of the European Internal Market have adopted the Euro.
Monaco, San Marino, and Vatican City also use the Euro, although they are not officially Euro members nor members of the EU. These countries use the Euro by virtue of agreements concluded with EU member states (Italy in the case of San Marino and Vatican City, France in the case of Monaco), on behalf of the European Community.
Conversion rates:
1 Euro= 13.7603 Austrian schillings= 40.3399 Belgian francs= 5.94573 Finnish markka= 6.55957 French francs= 1.95583 German marks= 340.750 Greek drachmas= 0.787564 Irish pounds= 1 936.27 Italian lire= 40.3399 Luxembourg francs= 2.20371 Dutch guilders= 200.482 Portuguese escudos= 239.64 Slovenian tolars= 166.386 Spanish pesetas(The Euro replaced the ECU at the rate of 1 Euro = 1 ECU )

UKForex Foreign Exchange Services

2007-11-06T20:10:00.000-08:00

About UKForex Foreign Exchange Services
UkForex Limited is the UK subsidiary of OzForex, Australia's largest online foreign exchange provider that operates dealing rooms in Sydney and London. Offering seamless 24 hour access to Corporate and Private Client Dealers, UKForex and OzForex complete over 60,000 funds transfers per year on behalf of Clients. The company employs a blend of technology and tailored customer service to bring a better deal to smaller customers. UKForex uses the Internet and technology to provide 'on demand' information and dealing facilities, and focuses on delivering a 'high touch' approach to customer service which makes our service unique in the online financial services industry. OzForex was launched in April 1998 to provide customers with better and more efficient foreign exchange services than offered by the banks. OzForex now operates in the Australian, UK and NZ markets and has become one of the world's leading online foreign exchange services, with over 300,000 visitors per month and more than 11,000 transacting customers globally. UKForex's ever-growing client base includes small and medium-sized businesses that import and export goods, as well as migrants transferring financial assets, expatriates repatriating funds, and individuals investing overseas. OzForex was recently officially recognised as one of Australia's fastest growing companies with a ranking of 6th place in the 2005 BRW Fast 100 awards. OzForex also received 5th place in the recent 2005 Deloitte Technology Fast 50 awards. UKForex Limited holds a certificate of registration for Money Laundering Regulation (MLR). Registration number: 12219180.

JObs in UK

We're Hiring!
UKForex's approach is to deliver the highest level of service by hiring customer focused people and operating innovative and efficient business systems that ensure we can offer customers the best deal in terms of price and service.

Office Assistant (x1)
UKForex is looking for a enthusiastic individual with great communication skills and an eye for detail to join our team in London. As part of the Australian based OzForex group, UKForex are fast becoming the UK’s leading online foreign exchange services provider. As such we now require a fulltime Office Assistant to help support our London based dealing team. An eye for detail, initiative and the ability to form good working relationships are essential. You must also possess a friendly phone manner and be willing to work in a fast paced environment. Previous office experience in not necessary but would be an advantage. For a conscientious employee this role could form the starting point for a career in the finance industry. Salary range: £12-15K
Location: London
Corporate Dealer (x1)
UKForex is looking for a dynamic and efficient individual with superb telephone skills to join our team in London. You will possess a positive manner and be able to work unsupervised. Responsibilities:
Anticipate and meet the needs of customers
Clearly explain UKForex services to new customers
Efficiently handle customer enquires
Respond to written enquiries
Build on our reputation for great customer serviceSkills:
Have integrity and a good work ethic
Excellent written and oral communications skills
Dedicated to customer service
Great process management and multi-tasking abilities
Excellent computer skills
Be a detail orientated person
Knowledge of foreign exchange or banking an advantage
Location: London

forex brokers in usa

2007-10-30T03:59:00.000-07:00

CFOS/FX----

All of the professional brokers at CFOS/FX are licensed by the National Futures Association and are qualified to provide you with the following services: forex broker, forex options broker, commodity futures broker, commodity options on futures broker and forex and futures consulting. CFOS/FX provides both online and telephone brokerage services to clients, and customer satisfaction is our top priority.

OANDA---
OANDA is a leading market-maker for currency trading. OANDA FXTrade Platform comes from 15+ years of foreign exchange market research and analysis.

FX SOLUTIONS,LLC----
24 hr commission-free trading in the majors and crosses, Global Trading System (G.T.S.) with free professional charting package, split-second trade execution from real time, streaming quotes; managed account program; partner services include introducing broker program, white label / co-brand program; back office services for money managers, etc.

Learning Forex trading from the books

2007-10-29T02:11:00.000-07:00

Learning Forex trading from the books----
For traders who keen to learn via the traditional way (books!), here are the list of books we found helpful for traders. A brief intro and reader's review are quoted else where from the Internet for your ease of review. In our opinion, you don't need a lot of books (rather, you need to practice your trade as much as possible with a demo acc) to learn FX trading - instead, you need just one or two good books for the references. Hence, we list out only a few which we think are the best of the best.
Recommended Forex learning books
Forex Conquered: High Probability Systems and Strategies for Active Tradersby John L. Person (Author)
What's in the book?

The "Forex Conquered" offers easy-to-learn trading strategies for profiting from today's FX market.
When to increase lot size? When to move stops? How to use auto trading system to max out the profits, how to use technical tools to guide your trades? How to develop a trading system that suits your financial needs? How to utilize the fundamentals of Candlestick and Elliot Wave charting in the Forex market?
You can find all the detail answers here in John Person's book.
In addition to the valuable information found throughout these pages, this book's companion CD contains a Fibonacci calculator as well as a pivot point calculator, which can assist you in developing a trading plan without having to purchase extra software. Best of all, these calculators may give you an edge in determining longer-term price objectives, such as quarterly or annual price outlooks, which most software cannot do. The CD also includes six separate tutorials totaling more than 40 minutes of one-on-one instruction.
Reader reviews
"In this amazing book, John covers it all. From trading systems to money management to emotions, he explains easily how to pull money consistently from the most complicated financial market in the world. John packs more new, innovative information into this book than I have ever seen in a trading book before."—Rob Booker, independent currency trader
"John Person is one of the few rare talents that are uniquely qualified to help traders understand the process of successful trading. With today's markets becoming increasingly challenging, John has cut right into the essentials and brought forward the much-needed tools of forex trading. This clear and well-organized publication is a major step forward in helping traders gain an edge. I would highly recommend Forex Conquered as a valuable handbook for both aspiring and experienced traders alike." —Sandy Jadeja, Chief Market Analyst and EditorLondon Stock Exchange, London, England
"Forex Conquered is a bold title, but this book delivers the tools needed for successful forex trading. There is no fluff here, just the wisdom of a trading veteran that I have always respected-and followed." —Michael Kahn, Editor, Quick Takes Pro market letter and Columnist, Barron's Online
About the author
John L. Person, CTA (Palm Beach, FL), is President of Nationalfutures.com, a professional advisory service and President of J&B Capital Management. He is a registered Commodity Trading Advisor. With almost thirty years of experience in the trading business—as a broker, trader, and teacher of traders—Person understands what it takes to make it in this fast-paced environment, and with Forex Conquered, he wants to show you how. In 1998, he developed his own proprietary trading system and began publishing ''The Bottom-Line Financial and Futures Report''.'

Adventure Of A Currency Trader: A Fable about Trading, Courage, and Doing the Right Thing by Rob Booker

Feeling bored with the usual trading books serious tones? Now learning Forex trading can be like reading Harry Potter's adventures with Rob Booker's Let author Rob Booker introduce you to Harry Banes. Harry represents every trader. He doesn't start trading with a huge amount of money, and his ambition is larger than his ability. His financial situation and life as a new trader may be difficult, but his determination allows him to prevail in Adventures of a Currency Trader.
What you'll get with this book?
Funny, entertaining, and, above all, educational, Adventures of a Currency Trader demonstrates exactly what it takes to capitalize on today's volatile and potentially profitable foreign exchange markets. Told through the eyes of a fictional character by the name of Harry Banes—an aspiring trader who works as a filing clerk in a busy New York law firm—Adventures of a Currency Trader explains in a powerful and compelling manner how you can implement a consistent trading approach in the foreign currency market and become a financially independent currency trader in the process.
There's a little bit of each of us in Harry Banes, and as the story progresses, you'll discover how to turn the lessons outlined in this book into potentially profitable trades. Harry admits early on that he's a rookie trader, which won't adequately prepare you for how bad he really is. But we'll stand by him as he picks himself up from early disappointments and begins to implement the wise counsel of a veteran trader—Harvey Winklestein—who agrees to mentor him.
From Harry's experiences, you'll learn how to recover from disastrous losses, set yourself up as a full-time trader, and talk to loved ones about what you're doing. But that's not all. Through Harry's numerous journeys, you'll also discover how to create reliable charts, perform the proper type of analysis, and make effective trades. Most importantly, you'll learn how to generate substantial profits—and keep them.
Reader reviews
"Brilliant! Rob's humor and humanity shine through in this parable about trading and life. Filled with wisdom and wit, it's an exhilarating rollercoaster ride through the peaks and valleys of the learning curve, with many valuable lessons learned along the way." —Ed Ponsi, President, FXEducator.com
"Rob's fable of everyman 'Harry Banes' is destined to become a trading classic. This is both the missing piece and the foundation that comes before the strategies and methodologies. The search for the Holy Grail begins and ends in the heart and mind. The journey is authentic and real and if you're willing to take it with Rob, you will be rewarded in the end. Seldom has psychology and wisdom been so entertaining!" —Raghee Horner, trader and author of Forex Trading for Maximum Profit and Days of Forex Trading
"In a series of insightful and entertaining vignettes, Rob Booker teaches both the novice and the experienced trader some hard won truths about the currency market. It's a must read book written by a guy who survived the trenches and went on to prosper in the biggest and most competitive financial market in the world." —Boris Schlossberg, Senior Currency Strategist, Forex Capital Markets LLC, and author of Technical Analysis of the Currency Market
About the Author
Rob Booker is a foreign currency trader and a trainer of traders. His Web site, www.robbooker.com, and blog, www.piptopia.com, are two of the most popular destinations on the Web for traders, and both provide educational and inspirational materials on trading. Booker has the reputation of being one of the best trainers of traders in the foreign exchange industry. Hundreds of people he has trained now trade for a living. Booker's growing popularity is a result of both his success as a trainer and his ability to impart his knowledge in an appealing manner through stories and anecdotes.

Why trade in foreign currency exchange market?

2007-10-29T02:10:00.000-07:00

Why trade in foreign currency exchange market?

Why trade Forex instead of stocks, futures, commodities, or options? Why more and more people nowadays started trading Forex at home? Perhaps the list of advantages in Forex trading has the answer.
Advantages in Forex currency trading
High Leverage Margin
Forex brokers offer trade margin of 50, 100, 150, or even 200 to 1 of trade margin. Forex traders often find themselves controlling a huge sum of money with little cash outlay on the table. For example, a $1,000 in a 150:1 Forex account will gives you the purchase power of $150,000 in the currency market.
While certainly not for everyone, the substantial leverage available from online currency trading firms is a powerful, moneymaking tool. Rather than merely loading up on risk as many people incorrectly assume, leverage is essential in the Forex market. This is because the average daily percentage move of a major currency is less than 1%, whereas a stock can easily have a 10% price move on any given day.
Equal Prospective in Rising or Falling Market Trend
There is no structural bias to the market and there are no restrictions on short selling in FX market. Trading in Forex gives you an equal prospective in rising and falling market. As trades are always done in pair of currency pairs, Forex traders can always find chance to make money in anytime, regardless on the fall or rise period of one single country currency.
Trade Forex 24 hours a day
Forex market never sleeps. In Forex trading, you do not need to wait the market to open, you can always response to world latest movement and news immediately.
Every Sunday 5.00pm in New York, Forex market starts its week from Sydney, followed by Tokyo, Singapore, Hong Kong, London, and New York. In Forex tradng, you can always response to the market trend a lot faster than in any other trading market. Also, with the flexibility of Forex market trading time, you can work on your trade in Forex during your free time. This means you can start small and work as part time trader before going full time on FX trading.
Trade Forex anywhere from the world virtually

A computer with Internet connection plus an active Forex account are sufficient for you to execute a trade in Forex market. Professional Forex traders have the privilege to travel around the world but yet still connected to the market anytime, anywhere. The freedom of this is something you could not get else where by being an employee of a cooperation.
High Liquidity Market
Turnover value in Forex is $1.9 trillion per day. It is the largest trade market in the world and the liquidity of the market is huge. Traders can easily cash in or cash out their capital in Forex market.
Learning and Investing in Forex trading
Wrapping things up, we believe that Forex trading give a whole new option to individual traders to success financially. Learning Forex and listing Forex trading into one of your financial plans is a must.

forex training

2007-10-24T22:24:00.000-07:00

Introduction
Welcome to National Futures Association’s e-learning program for retail off-exchange foreign currency trading. As the industrywide self-regulatory organization for the U.S. futures industry, NFA is committed to providing innovative programs and services that protect investors and ensure market integrity. We’ve always believed that one of the best ways to protect investors is to provide them with the materials they need to make informed trading decisions.

The off-exchange foreign currency, or forex, market is a large, growing and liquid financial market that operates 24 hours a day. It has no central trading location or exchange with many buyers and sellers. Most of the trading is conducted by telephone or through electronic trading networks. Banks, insurance companies, large corporations and other large financial institutions all use the forex markets to manage the risks associated with fluctuations in currency rates. In recent years, however, a number of firms have begun offering forex contracts to individual investors. NFA regulates some, but not all, of these forex firms. Before you open an account with a forex firm, you should ask the firm if NFA regulates its forex activities. If the answer is no, find out who does regulate them.

Like many other investments, forex trading carries a high level of risk and may not be suitable for all investors. Forex trading requires constant monitoring and an understanding of the relationship between currencies, as well as what factors influence the currencies' value. If you are a retail investor considering trading in this market, you need to understand fully the market and some of its unique features.
One final note before we begin. This program does not suggest that you should or should not trade in the retail off-exchange foreign currency market. You should make that decision after consulting with your financial advisor and considering your own financial situation and objectives.
This program should serve as just one element of your due diligence.

Best forex courses

2007-10-23T23:20:00.000-07:00

"Who Else Wants To Trade Inside A Never Ending Bull Market, Open 24 Hours A Day, With High Leverage And Low Transaction Costs?"
It never used to be possible for an average person or small trader to trade the forex market! The big guys just wouldn't let the general public in on this never ending bull market.

Individuals who only wanted to trade the forex market as a hobby or part time weren't allowed to try their hand at trading in foreign exchange (or Forex - which is trading foreign currencies).

Because the minimum transaction sizes and strict financial requirements were so steep, forex trading was mostly left to banks and major currency dealers. They were the only ones who could take advantage of the incredible liquidity and strong trending nature of forex trading.
New technology has allowed foreign exchange market brokers to break down the barriers and let smaller traders have a piece of the action. Now the small forex trader can participate and trade this fast paced market.
AND GUESS WHAT?
You can start trading with as little as $200.00! Or if you only want to trade for fun and don't want to risk any money you can get a demo or practice account with $50,000 play money to trade!
Many forex firms will even provide you with real time charts to watch and trade the forex markets FREE OF CHARGE!!
I should mention that forex trading is not exactly the same as trading in stocks or futures. It is not for everyone, but with some guidance, you can start trading the forex markets with more confidence and learn how to develop your own forex trading plan and have a ball!
"1000's of Real People Worldwide have completed these forex course and or subscribe to these advisories and now trade from the comfort of their own homes. Now there are forex courses everyone can understand."
So to get started on this fun, exciting adventure in forex trading sign up today for our Free Forex Trading Newsletter and get instant access to our Introductory Guide to Forex Trading (Value $49.00) for Free! And don't worry, you can unsubscribe automatically at any time!

Forex Trading Guide
Table of Contents
Introduction
Why Trade FOREX?
Getting Started
Basic FOREX Strategy
Choosing Your StrategyUnderstanding Spreads
Successful Trading Tips
Forex Rules of ThumbDealing with your Losses
Forex Trading ToolsSummary

Strategy follow in forex

2007-10-21T23:01:00.000-07:00

2 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. And Much More!

3 Forex and Go
You already know that the forex market is a 24 hour market. But did you know that every currency pair has it's own special behavior (sort of "personality"!) throughout this 24 hour period? Well, professional traders sure know this and they exploit this characteristic of the forex market to pull in incredible profits day after day.
Now, with Forex Flip & Go (another of my PDFT day trading strategies), you can take advantage of a certain EXPLOSIVE characteristic of the EUR/USD pair (the most liquid of all currency pairs) which produces HIGH PROBABILITY/LOW RISK trades over and over again.
The EUR/USD's daily range is about 80-100 pips ($800-$1,000). As daytraders we want to catch a big portion of this daily move and we want to do it with as little risk as possible. Here is where this beautiful strategy comes to our help! The strength of the Forex Flip & Go strategy is that it catches a large part of these $1,000 swings right at the beginning of the move.Let's look at some examples so you can see exactly what I mean when I say that Forex Flip & Go catches large swings at the very beginning of the move and impressively limits risk:

Complete trading solution
As you can now see, Forex Trading Methods is not just a trading course, it is a complete trading solution!No matter what type of trader you are (beginner, veteran, daytrader, swing trader etc.), Forex Trading Methods is for you. You will be equipped with unique and revolutionary strategies to profitably trade your account. And remember, all these strategies are based on my proprietary PDFT (Price Driven Forex Trading) method, meaning you will be trading with strategies that 99.99% of traders do not even know exist!
Here are some of the frequent asked questions people have about Forex Trading Methods :
Q : I have never traded the forex market, is Forex Trading Methods for me? A : ABSOLUTELY! Forex Trading Machine is a +180 page e-book designed for beginners as well as seasoned traders. Beginners will learn everything they need to know about the forex market, from A to Z. Seasoned traders can jump directly to advanced chapters which teach step by step with detailed charts how to trade the 3 PDFT strategies: Forex Cash Cow, Forex Runner and Forex Flip & Go. Q : What is the difference between Forex Trading Methods and other forex trading courses? A : Simple. First, Forex Trading Methods teaches 100% mechanical forex trading systems that requires absolutely no discretion, judgment, or interpretation. It seems that many forex trading courses today concentrate in teaching simple technical trading techniques such as pivots, chart formation, patterns etc. These techniques require total discretion and judgment from the trader using them and this is why most people don't succeed when trading them.
Second, Forex Trading Methods is not just a trading course, it is a complete trading SOLUTION. You will be equipped with 3 explosive forex trading strategies so you can attack the forex market from every angle. Each strategy is different and takes advantage of different opportunities. Q : Some of the digital trading courses I purchased are only 50-60 pages long, why is Forex Trading Methods a +150 page eBook? A : Many people are completely new to the forex market and so the +150 page e-book will provide them all the necessary tools they need to be successful traders. From trader's psychology, unique money management formulas, to calculating currency values and reading a currency chart Forex Trading Methods is a complete learning tool for even the most inexperienced trader. Also, it is important to understand why these mechanical PDFT systems you will learn work as they do, the logic behind them. After reading Forex Trading Methods you will not only learn to trade these amazing strategies but you will know exactly why they work. Q : Will I learn to swing trade or daytrade? A : You will learn BOTH, 1 swing trading system and 2 daytrading systems. The swing trading system, Forex Cash Cow, is designed to take advantage of a unique swing trading opportunity (lasting 1 to 2 days) that occurs several times each month. The strength of this system is accuracy. To achieve high levels of accuracy it is necessary to take advantage of trading opportunities that do not occur every single day. The daytrading systems, Forex Runner and Forex Flip & Go, are designed to take advantage of certain market opportunities that occur every day in several currency pairs. Each of these trading systems exploit completely different opportunities. Q : What types of indicators are used to trade the 3 systems you teach? A : None! No moving averages, pivot points, oscillators, volume analysis, trend lines, Fibonacci or Gann analysis, news, support or resistance, reversal bars, patterns such as: head and shoulders, double bottoms/tops, pennants, triangle formations, or price channels.Forex Trading Methods is a truly revolutionary method of trading the forex market (using my proprietary PDFT method) never revealed before! Q : Is it hard to learn and implement the trading strategies you teach? A: Most people that purchase Forex Trading Methods start trading the 3 strategies taught in the course the next day after they read it.
As someone that has been around for a long time in this business I know that it is truly a traders dream to find a complete trading solution that is accurate, easy to use and at the same time profitable. Designing trading systems that can fulfill these three elements is hard work. As a trader and system designer I can tell you that it takes countless hours (and years of experience) of testing, designing, and thinking to achieve this objective but this is what Iv'e done with Forex Trading Methods. I passionately believe in this product and I am convinced that it's the best forex trading solution on the market today.But don't take my word for it! You have read throughout the website satisfied customers reviews and testimonials that are living the dream of trading forex profitably the Forex Trading Methods way. Some are seasoned traders, others only beginners but all have one thing in common: Forex Trading Methods works for them!
Be part of the small percentage of traders to have access to my revolutionary approach to forex trading: Price Driven Forex Trading (PDFT). I guarantee that with Forex Trading Methods you will be in the top 1% group of traders, the elite.
I am offering you the chance to not just purchase a trading course, but a complete forex trading solution. You will be equipped with an arsenal of top notch trading strategies that exploit the forex market from every angle.
If you are like me and have been in the trading industry for some time you know one important thing: rare, innovative and original trading methods are :
A) extremely hard to come across, and
B) : what every trader looks for but rarely finds!
The "Trading Non-Farm Payroll Profitably" Machanical System
BONUS FOR FREE": THE 10 FOREX SECRETS TO GET MORE PIPS PER DAY
The FX market is many times dominated by important economic reports release. These government issued reports can sometimes cause 150-200 pip (USD $1,500-USD $2,000) moves in certain currency pairs within a few hours. The biggest of all these reports is called Non Farm Payroll and is issued by the US government. The moves it creates in the market are IMPRESIVE!
Here are some of the key benefits of the "Trading Non-Farm Payroll (NFP) Profitably" System: 100% mechanical system. Like with all the other systems in "Forex Trading Machine", you will not use any type of discretion or judgment. Follow simple rules, if A=B than do C! Impressive profit potential per Non-Farm Payroll trade.
Unique system: 95% of traders guess were the market will go previous to the NFP release. Not with the Non Farm Payroll system! The system takes advantage of a very special pattern that occurs after the report release.
No indicators! Like all the 3 other systems in "Forex Trading Methods", this system is price driven. Profit objective and stop loss are pre-set. No guessing as to were the best place to put your stop loss and profit objective should be. You will know exactly were to place them before you enter the trade. Extremely simple to learn like all other systems in the course.
No Stress, No emotions. Again, because the system is 100% mechanical it can be traded emotion-free. A very important element for successful trading.
So, the price. Let me ask you this:
Would you pay $300 for the best forex trading course available (sorry, not only the best forex trading course, BUT the best forex trading solution available in today's market)?
Would Forex Trading Methods be worth $300 if you knew that you could make an average of $2,000 per week? I suppose the answer would be no only if you simply could not afford to.Otherwise, the logical answer to this is YES. Before I started marketing Forex Trading Methods I thought to sell each of the PDFT strategies (Forex Cash Cow, Forex Runner, and Forex Flip & Go) separately. It seemed logical. Each of these strategies are unique and profitable. Selling each one for $100 (all three for $300) would be a great offer. Not only a great offer, but considering that many forex trading courses cost that much AND MORE and don't perform anywhere close to each of these three systems, it would be more than a great offer.The problem of selling each of the three trading strategies you will find in Forex Trading Methods separately (and not as a complete package as it is now being sold) is simple:
I wouldn't be providing a complete trading solution.

forex information

2007-10-21T22:59:00.000-07:00

PDFT (Price Driven Forex Trading)
"Learn to profit consistently and systematically trading the Forex market with my 3 top PDFT (Price Driven Forex Trading) strategies." You will not find a better and more profitable income opportunity in today's marketplace. Forex Trading Machine traders are generating incredible wealth day after day from the comfort of their home. Give me 5 minutes of your time and I will prove to you that this is an offer you cannot miss!
Dear Friend, My name is David Frisher, creator of the revolutionary Price Driven Forex Trading (PDFT) method. I make my living as a full time professional Forex trader and educator. I have been trading several types of markets for over 11 years. Throughout my trading career I have tried and tested more then 150 trading indicators, methods, strategies and systems. Yes, you read correctly, 150! Trading is my passion and that is how I treat it. Eleven years of trading experience have taught me countless important lessons about this business. However, one lesson stands out above everything else I have learned:

You MUST be Innovative, Different and Original in this business.
Read the above line as many times as you need to because that is your path to making a killing trading the forex market! Using trading strategies that 99% of traders use will not make you successful, I GUARANTEE that. It is using strategies that ONLY 1% of traders use that will make you more successful in the Forex trading business than you have ever dreamed of.
My objective as a trader is ALWAYS being in that top 1% group of traders and this is why I developed Price Driven Forex Trading. PDFT is the outcome of 11 years of trading, learning, testing, creating and designing and now a select group of traders can have access to this amazing Forex trading method. Price Driven Forex Trading (PDFT) is a method of trading the forex market without using any type of indicators, support or resistance levels, moving averages, pivots, oscillators, fibonacci, trend lines or ANY other trading tool you can think of. PDFT only uses the price of the currency pair and a time element. Thats it! As some of my customers best put it after purchasing Forex Trading Methods:

Forex Cash Cow Strategy
The Forex Cash Cow strategy is truly amazing. I consider it by far my best PDFT swing trading strategy. This incredible system is 100% mechanical, this means it requires ABSOLUTELY NO discretion, interpretention, or judgment. You will simply learn to follow strict rules: if A = B then do C!Since it is a PDFT strategy you will not use ANY type of indicators, the only thing you will need to know is the price of the currency pair you are trading.
It truly takes 1 minute per week to implement this strategy, making it perfect for people who do not have the necessary time to monitor the market. In fact, I constantly get emails from Forex Cash Cow traders who say they are making more money trading this system than at their current day jobs! Let's look at how easy it is to trade the Forex Cash Cow strategy:

STEP 1 : Every day after the end of the trading day the trader checks to see if condition one of the system has been met. No interpretation or judgment, it is either yes or no, black or white! This step takes exactly 10 seconds. If condition one has not been met, nothing happens. If met it means there could be an entry signal the next trading day (the trader already knows to what direction, long or short) and step 2 comes into play.
STEP 2 : The next day the trader simply enters three types of orders with his or her broker: a limit order for initiating the trade, a stop loss order to limit risk and a profit objective. All these three numbers are exact pre-set numbers that you will learn how to calculate in less then 10 seconds. Again, no interpretation or judgment, just follow exact rules.
STEP 3 : Wait for results !

As traders say, a chart is worth 1000 words! Let's look at several examples of Forex Cash Cow trades. Simply click on the below chart images, chart will open in new window.NOTE: REMEMBER TO ALSO SCROLL DOWN THIS PAGE AND LOOK AT TRADE EXAMPLES OF THE TWO OTHER STRATEGIES TAUGHT IN Forex Trading Methods!
One of the true strength of Forex Cash Cow (and of the other 2 systems I teach in my course) is the fact that it is 100% mechanical. Traders who have been around for some time know the incredible benefits a mechanical system has over non-mechanical trading strategies. Let's look at some of the amazing benefits of the Forex Cash Cow strategy: No interpretation or judgment required. Since this is a 100% mechanical trading strategy you will be trading completely stress free. This is key with ANY trading strategy. Human emotions is what ultimately breaks traders. With Forex Cash Cow you are guaranteed to not have this problem.
Easy to follow rules. As simple as if A = B do C! Works the same for everyone who follow the exact rules (unlike non-mechanical trading methods that work for the very few, and most of the time not even that) Impressively easy to learn. Most Forex Cash Cow traders can put this amazing strategy to work the next day after learning it. Know today if tomorrow there will be a trade. Yes! You will know a day ahead if a trade is going to be triggered or not.
No monitoring the market. Many people want to trade the forex market but simply don't have the necessary time. Now, with Forex Cash Cow you can trade even if you have a day job! It simply takes 1 minute per week to implement it.
The forex market is known for it's large price swings that when properly traded result in amazing profits. Forex Cash Cow not only trades these price swings with great success BUT it identifies only the best of the best swings, the top percent.
No more buying "black box" systems or subscribing to signal providers. All the strategies rules are 100% disclosed and explained. You will have complete control over your trading.
A unique PDFT (Price Driven Forex Trading) strategy. No indicators, no vague chart patterns, no pivots, no support and resistance, no anything you have seen or read until now.
And much more....!

why forex?

2007-10-17T23:38:00.000-07:00

The effective utilization of the capital
The principle of the margin trade provides an opportunity to trade in the FOREX market in the volumes considerably exceeding your deposit. Traders have an opportunity of trading for profit on both up, and downturn trends.
Thus, in order to complete a transaction it is not necessity to have the full amount of the transaction. That is, for the conclusion of a transaction you borrow the missing amount, therefore giving some leverage to the initial amount.
Opportunity to operate risks
FOREX is not only fascinating, but does bear certain risks. It is possible to come out of the game as a winner, but there is also a risk of losing money. Fortunately, modern FOREX allows traders to operate risks by means of the fundamental and technical analysis, In addition, the use of "stop loss" and "take profit" orders allows the trader to control profit and losses.
Wide range of trading tools
FOREX Market has a wide spectrum of trading opportunities: the basic currency pairs, cross-country by rates, and even exotic currencies. Traders can trade for just one day or open long-term positions if they can see the benefits and prospects of their positions
Fundamental trading opportunities
The trade in FOREX market is a game based on a macro of both fundamental economic news and trends.
Technical trading opportunities
Trends in FOREX market are usually steadier, than in other markets, and render and are ideally suitable for use with technical trading models.
No commissions
There are no commissions; you pay only a difference between by the seller (ask) and the buyer (bid) price in the bilateral quotation.
Round the clock
The Market works round the clock, transactions are made through the Internet or by a telephone system. Traders can open or close positions at any time.

fundamental analysis:

News about the condition of an economy is the basis of trading. Economic health of the country practically is always reflected in the price of currency.
There are two basic ways of the analysis of a situation in the market - fundamental and technical. In this section we will examine the first one. The fundamental analysis is established from an estimation of a situation from the point of view of political, economic and financial-credit policy. Traders judge economic well-being on certain fundamental indicators.
The most important indicators
1. Unemployment (Non Farm Payrolls - in the US)
Unemployment measures the condition of the market of workplaces. One of the ways by which analysts measure the health of an economy is the quantity of the new workplaces created in non agricultural branches of economy for 1 month. The increase in this parameter characterizes increase in employment and leads to increase of a dollar exchange rate. On supervision, the increase in its value on 200 000 in a month is equated to increase in gross national product at 3.0 %. It is published, as a rule, on the first Friday of each month at 08:30 EST.
2. The decisions under interest rates (FOMC)
The Federal Open Market Committee of Federal reserve system of the USA establishes interest rates during sessions. There are 8 sessions planned per year. Their date is known in advance.
3. The Trade balance
The Trade balance defines a difference between the imported and exported goods and services. When a trading surplus results, the national economy experiences proficiency, at lack - deficiency.
The data on trade balance is published in the middle of the second month after the accounting period.
4. The consumer price index (CPI)
The given parameter reflects the price of the fixed quantity of the goods, therefore is the key indicator of inflation. Higher prices are considered as a negative result for the economy. However the Central Banks often answer inflation by an increase of interest rates, and currencies in turn react positively to messages on growth of the inflation.
CPI leaves monthly about 13-th of each month at 8:30 AM EST.
5. Retail Sales
The Index of retail sales measures the total of the goods sold in retail shops. It is used as a parameter for purchasing activity and defines influence on growth of economic activity. It is published monthly about 11th of each month at 8:30 AM EST.
Influence of fundamental factors on change of a rate of national currency
Data
Change of the data
Change of a rate of the national currency
Trade deficit
Growth
Decrease
Payment deficit
Growth
Decrease
Consumer price index, Producer price index
Growth
Decrease
Official stock-taking rates
Growth
Growth
Gross domestic product GDP
Growth
Growth
Retail sales
Growth
Growth
Housing starts
Growth
Growth
Producer price index
Growth
Decrease
Industrial production
Growth
Growth

Better than forex

2007-10-17T23:35:00.000-07:00

"WARNING: Do Not Read This Unless You Are Already Rich!"
... Or Curious About The First Commercially Available Stock Trading "Robot" Which Earns $346.77 Per Week (Managing $1000 Capital).(Or Live Near ) -->
Article by: Tom Hunter
What I am about to share with you, is a very unusual story.
Unusual... because it is about 2 "geeks", named Michael and Carl. Who developed the first commercially available stock picking "robot". Michael (the programmer) named the robot "Marl".
Above: Carl and Michael Programming "Marl"
Marl came about after Michael developed the famous "Global Alpha" computer stock trading model, while contracted to Goldman Sachs.
A piece of software which most years is responsible for...
$4,000,000,000+ Annual Trading Profit
With this software project completed, Michael looked for a new way to line his pockets. Unfortunately he had signed a Non Compete and NDA agreement with Goldman Sachs, forbidding him to create software which trades derivatives and similar financial instruments (like Global Alpha).
After 3 weeks of being temporarily unemployed, Michael who was very wealthy and very bored... Decided to start a new project.
You' see Goldman Sachs and most other large investment funds are at a major disadvantage. They often manage portfolios of up to $10,000,000,000 (ten billion dollars) - and because of this when they invest in stocks their scope is limited to just a few of the worlds largest firms (Coca-Cola, Google).
This problem is widespread amongst fund managers whom manage large amounts of capital. In fact Warren Buffet (Whom manages $53 billion) has the exact same problem.
How to Find Stocks Which Will Double...
In Your Inbox, in 20 Seconds...
Just enter your name & email address below and I will instantly email you 2 simple rules (you must strictly follow) in order to discover hot and profitable trades which will double within 23 minutes of the market opening...
Your Name:
Your E-Mail:

Michael knew he could take advantage of this. By developing software which can run on any home computer, and manage funds between $100 and $500,000.
With managing such a small comparative amount, Michael's software could yield much higher returns. In fact it is designed to trade in the volatile penny stock market where stocks can increase 400% in a matter of minutes.
Michael worked with fund manager Carl Williamson to create the bot. "Marl" works by analysing each stock using "technical analysis". Which means analysing a stocks past price movements to predict the stocks future direction.
Below is an example stock chart. For all it looks like something NASA would be proud of... it is merely showing the stocks changes in price against time.
The various changes in price (when made into a chart) form what traders call "chart patterns" and it is exactly these price patterns Marl is looking for.

When first activated, Marl will use its own database to perform a scan of stocks trading on the OTC and Pink sheet exchanges. During this time Marl is looking for companies whom are forming bullish trading patterns.(stocks about to increase)
Carl helped Michael program the bot to identify (in split second timing) distinct trading patterns from a vast range of 6578, held in Marl's internal database.
If Marl identifies a clean, uncongested chart pattern, that is proven to yield a good risk/reward - Then the stock will be added to Marl's "Watch List". All of these "watched stocks" will be forming bullish patterns (indicating the stock is about to rise).
This watch list has two distinct advantages. The first and most obvious is that Marl can easily monitor hundreds of stocks at the same time. The second is that Marl is programmed on an "evolutionary framework". What this means, is that as Marl is watching hundreds of stock patterns it actually learns the most likely direction of stock prices under thousands of situations.
Because of this. The longer Marl is allowed to run on a computer...
The More Advanced He Becomes!
What's more by scrutinising the miniscule movements in price of hundreds of stocks... Marl becomes familiar... even intimate... With each individual stock.
Developing what professional traders call a "sixth sense". A sort of "feel" for how the stock will behave in any given situation.
While monitoring hundreds of stocks in the watch list... Marl may notice that a stock has been hitting resistance at $0.50 all week (not being able to rise above 50 cents a share). And if the stock breaks that level (meaning there is a good chance it will "breakout" and run much higher) the bot will start analyzing the stock in more detail... looking at its longer term weekly trading pattern and applying its vast range of criteria.
Any stocks that reach this stage have been under close scrutiny and passed a variety of complex tests. Marl will then analyze the charts looking for the best entry point (to buy the stock at) with the lowest risk to potential reward.
Watch Marl in Action...

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The average professional stock trader can analyze one stock chart around every 8-10 seconds... when looking for an opportunity. On the other hand Marl can analyze 7 charts every second.
Why Does That Matter?
Above: One of the Magazines Featuring Marl
-->
It means that Marl can be extremely selective, waiting until all the correct criteria line up until a trade recommendation is made.
Often Marl will disregard profitable trades... In favour of a potentially more profitable trade occurring at the same time.
After creating Marl to version 1.0... The two input a trading capital of $1000 and set it running. Marl spent 13 hours analysing over 6,000 small capitalisation firms. After those 13 hours Marl made his first ever stock recommendation...
LPTC.OB Trading at $0.74 Per Share
Carl placed the trade in his online brokerage account with $1000 invested, as the market closed for the night. The following morning (a Tuesday) the stock climbed to $1.05 within the first 3 hours (a 42% increase).
Something ‘magical’ had just happened. In Carl Williamson’s dark, damp basement the first ever profitable stock robot was created.
Computer Science Universities around the country had attempted this feat for years with no avail. They lacked one crucial thing, these students only had a basic grasp of stock trading - Let alone the complex thinking and analysis involved.
Carl Williamson was vital to Marl's success and so on that day. The 16th of January 2007. Michael and Carl signed a legally binding contract. Both swore themselves to "secrecy". No one would know about Marl. Not Carl's trading partners... Not Michael's old Global Alpha colleagues... Not anyone.
Within the next few days Carl and Michael rented a commercial lock-up where their new business was to be stationed. They drove to the nearest PC World and bought 12 brand new laptops.
Back at the lock-up Michael set-up a wireless network and configured each laptop. They spent the first night setting up each laptop v1.1 of Marl the trading robot. Yes you guessed it...
Carl & Michael Were Setting Up A Lockup To House Marl...Marl Was To Analyse the Markets... 24 Hours a Day!
By setting up Marl on a network, with 12 versions of "himself" running at the same time - His internal database of chart trading patterns was able to grow at a much faster rate.
Each bot was linked to one central database, held on a separate server, and hosted online.
Carl & Michael Were Set For Riches!

The second day after 12 sets of Marl analysed over 17,000 small cap firms... Marl made
It's Second Stock Recommendation...
Marl recommended another stock named NSMG.OB. Carl once again placed the trade online, this time investing $1380 using the profits made on the last trade.
Within 3 days time the stock had rocketed from $1.12 per share to $3.42. In total a 205% increase in just a matter of days.
In fact by this point the two were so excited they slept on the floor in the lockup. Watching as Marl analysed hundreds of thousands more stocks.
Michael (the programmer) has insisted I include some technical details pertaining to his ‘masterpiece’ in this article, here they are:
Marl can process 1,986,832 mathematical calculations per second.
As explained the more Marl is used the better his skills will become; every situation it analyses is fed back to an online "master database" which also gauges the performance of its actual stock picks. The result is a bot which is constantly perfecting its trading formula.
Marl doesn't just compare each trade to past situations. It also looks at volume traded, Support and resistance levels, Trend reversals patterns, Consolidation patterns and Channels a stock trades in. - Marl takes all of this into account before even watching a certain stock.
Carl went on to explain that Marl is a simple bot. And unlike the computer science universities currently trying to create programs like Marl. Michael and Carl were adamant their stock robot would be extremely simple. It is simple in design and simple in programming. For the end user this means there are virtually no errors or bugs, which could prove financially fatal.
Below is a Screenshot of Carl's online Brokerage account after using Marl for 9 days:

Now as explained above, Marl is the first "Commercially available" stock trading robot. And since its introduction in early 2007, Marl has been responsible for creating 86 millionaires and 13 multi-millionaires.
And because of this a license to use Marl is no "cheap date".
In fact it costs...
$28,000 Per License!
And each person who purchases a license is invited to Michael's home for a week of personal training.
Now Michael did go on to tell me something very interesting. Stay with me on this because I'm about to tell you how anybody can benefit from Marl... Without shelling out $28,000.
You' see Michael and Carl know that not many people have $28,000 to "risk" on buying a Stock Trading Robot. And so they thought for days about how they could prove Marl is everything I have explained, without giving him away on some sort of "trial basis".
So they created a weekly newsletter, named "Doubling Stocks". Each week every reader of that newsletter would receive one Penny Stock pick chosen by Marl.
And so far since the newsletter was started 4 months ago... Each pick has made an...
Average 105.28% Increase,Usually Within 3 Hours of the Market Opening!
Just take a look at the impressive results "Doubling Stocks" subscribers have experienced since early this year:
Stock
Recommended Buy Price
Recommended Sell Price
Percentage Change
CorVu Corp. (CRVU.OB)
$0.38 (November 2006)
$0.26(February 2007)
-31%
1-900 Jackpot, Inc. (ONJP.OB)
$8.10 (November 2006)
$39.42 (March 2007)
+386%
Metwood Inc. (MTWD.OB)
$0.42 (November 2006)
$0.85 (December 2006)
+102%
Calpine Corp. (CPNLQ.PK)
$0.89 (December 2006)
$1.42 (December 2006)
+59%
Crown Crafts Inc. (CRWS)
$3.61 (December 2006)
$6.08 (February 2007)
+68%
CIC HOLDING COMPANY (CICG.PK)
$2.93(December 2006)
$1.36(December 2006)
-53%
Recyclenet Corp. (GARM.OB)
$0.02 (December 2006)
$0.05 (March 2007)
+150%
360 Global Wine Company (TSIX.OB)
$3.64 (January 2007)
$3.34 (February 2007)
-8%
Nova Biosource Fuels, Inc. (NVBF.OB)
$2.35 (January 2007)
$3.00 (February 2007)
+27%
Tasker Products Corp. (TKER.OB)
$0.12 (January 2007)
$0.19(April 2007)
+58%
InfoLogix, Inc. (IFLG.OB)
$5.20 (January 2007)
$4.15 (February 2007)
-20%
Le@p Technology Inc. (LPTC.OB)
$0.31 (January 2007)
$1.09 (January 2007)
+251%
President Casinos Inc. (PREZQ.OB)
$0.25 ( February 2007)
$0.40 (March 2007)
+60%
FirstFlight, Inc. (FFLT.OB)
$0.41 (March 2007)
$0.49 (March 2007)
+19%
Hydron Technologies Inc. (HTEC.OB)
$0.10 (February 2007)
$0.17 (April 2007)
+70%
CLEAN POWER TECHNOLG (CPWE.OB)
$0.71(February 2007)
$1.88(February 2007)
+164%
Optionable Inc. (OPBL.OB)
$8.89 (February 2007)
$5.02 (March 2007)
-43%
Regal One Corp. (RONE.OB)
$0.07 (March 2007)
$0.19 (March 2007)
+171%
Transbotics Corp. (TNSB.OB)
$0.47(March 2007)
$0.68(April 2007)
+44%
PAETEC Holding Corp. (PAET)
$9.80 (March 2007)
$19.25 (March 2007)
+96%
BioStem Inc. (BTEM.OB)
$0.46 (March 2007)
$2.34 (March 2007)
+408%
LANTIS LASER INC (LLSR.PK)
$0.49(April 2007)
$0.42(May 2007)
-14%
SUPERCLICK INC (SPCK.OB)
$0.11(May 2007)
$0.24(June 2007)
+118%
DHANOA MINERALS LTD (DHNA.OB)
$1.00(May 2007)
$1.55(May 2007)
+55%
Now here's where it gets most interesting.
Because when Michael and Carl were telling me about this new newsletter, I was expecting them to mention a price in the thousands of dollars...
$5000, $6000 or More
They went on to tell me they were offering a membership to this newsletter at just a token fee of $47.00! And better yet this token fee of $47.00 will allow you to trade Marl's picks for the lifetime of the newsletter.
Why?
Because Carl told me:
"This newsletter is the best kind of advertising available. Thousands of people read the email each week and witness returns consistently averaging 80%+"
"And we priced the newsletter at $47.00 simply to ensure those who join are serious about investing in each stock pick".
And because of this $47 newsletter, Marl has already been featured in Business Week and the Wall Street Journal.
Just take a look at these stock graphs. Just a few of the trades Marl has picked in the past 5 months:
Above: One of Michael's Personal Favourites!
Above: In total Michael's subscribers earned an estimated $192,392 from this pick.
Above: Michael told me this one was quite risky, but it certainly paid off.
In fact, Carl tells me 3.2% of members of this newsletter, end up buying Marl outright.
Why would they pay such a large amount to buy their own Marl when they can simply follow the newsletter?
Because Marl usually predicts at least 2 good stocks per day. And owners of the software can make 10 or more investments per week, unlike members of the newsletter.
There is one more caveat. Members of the newsletter are expected to report back to Michael and Carl details of their entry point, exit point and profit/loss (if they decide to trade that week).
This data is further used to aid development of Marl.
6 Case Studies of Newsletter Members:
"Altogether I've made $623.56"
Hi,
My name's Ethan, I must admit I was pretty skeptical when reading about DoublingStocks.
Although after reading about the guarantee. I took the plunge, and boy am I glad I did so.
I've now received 4 of the recommended stock trades from Michael. And the average increase has been 84.56%.
Altogether I've made $623.56 with an innitial investment of $150.
And the best part is I started this venture knowing absolutely nothing about trading stocks.
But If you want to email me about doubling stocks I'd be more than happy to talk.
Just send off an email to ethan.paymer@gmail.com
Bye for now

- Ethan Paymerethan.paymer@gmail.com
"Altogether I,ve made $1089"

- MartinNo email Address
"Made 164% With CPWE.OB"

Hey Michael,
This is Jeff Wells. Last week I paid for a subscription to Doubling Stocks. I've read your book The Penny Stock Bible -- And I must say it has cut the learning curve dramatically.
Now on the stock newsletter front, I've only received one pick so far. And that was CPWE.OB, this stock has risen 164% and netted me $1246.00 in clear profit.
Anyway, feel free to stick this video on your website. I'm looking forward to being quasi famous.
Bye for now

- Jeff Wellswellsy@bigstring.com
"My goal by June 2007 is $13K a month"
Hey Michael,
Just emailing to say... I've just made $2533.56 minus commissions on your last trade cttd.
Within days of you recommending it, the price tripled. I got out early, as it went up another 89.24% -- But I couldn't be happier.
My goal by June 2007 is $13K a month (A 6 figure salery). With your stock picks continuing to flood my inbox... This is going to be EASY!!!
I don't usually kiss butt, but seriously? Thank you Michael. You really went all out on this course and me, my wife and our 8 month old son really appreciate your dedication to excellence.
Thanks!

- George Barmpaliasno email provided
"The next best thing besides Warren Buffet"

Thanks to Michael, my friends now believe I'm the next best thing besides Warren Buffet.
In the last 4 months I've made enough money to buy a BMW 3 Series. Actually I'll be honest I already had enough but the earnings from Michael's newsletter eased my girlfriend onto the idea.
I paid $52,250 for the car. And $38,689.00 of that was directly from penny stocks.
Here's the car:
Now what can I say Michael, other than look at the car I have, because of you. You'll be happy to know I call the car Michael, after you!

- David no email provided
What you have just read so far, is an overview of what I believe, and obviously what others believe, is the most amazing, exciting and definitely one of the most profitable methods of making money online.
When writing this web article, I initially was simply writing an interesting article about "The First Stock Robot". Although after hearing about Michael and Carls newsletter I thought it was such a great deal I asked to offer the chance to join, straight from this web page.
Michael and Carl did however specify that there was a strict limit on the amount of people I am allowed to let join "Doubling Stocks". And said they had just 486 newsletter spaces left.
If you quickly scroll to the bottom of this page, you'll see a large black number. That number is a countdown of the amount of newsletter subscriber spaces left.
At the time of writing I do not know the current amount, although if it says 0 - Please contact me with your name and email address and I will add you to the waiting list.52-Week Return on Capital Estimator:
52-Week Return on Capital Estimator:
function compute(form)
{

var i;
i = (form.members.value/100)*9000;
form.tot.value=Math.round (i);
}

Starting Capital:

$

-->

For each sale, how many more sales will result according to the compensation plan (3 is average):

-->
This is your estimated return within 1 year:
$

Michael provided me with the above profit estimator. If you type in the amount of capital you have available to start trading using Marl's picks. It will estimate the amount of money this will have turned into after 52 weeks (1 year).
This is of course, assuming no profit is taken during this time. In addition Michael specified a $100 minimum capital is recommended.
-->
But I must also make clear:
This Offer Is NOT For Everybody
In fact, Michael isn't even allowing most people to sign up.
Why?
Because some people cannot cope with any type of loss whatsoever. And, even though Marl gains an average of 105.28% per weekly trade. The bot gets it wrong sometimes. And when it does, people lose money.
Some people think they will never lose when they follow Marl's predictions. But the truth is, occasionally they will lose money. If you trade penny stocks on a... continuing basis, it is 100% certain you will experience losing trades every now and again.
So, if you're the kind of person who is not emotionally stable enough to handle a loss. Then you are not allowed to be a subscriber to Marl's newsletter.
How to Find Stocks Which Will Double...
In Your Inbox, in 20 Seconds...
Just enter your name & email address below and I will instantly email you 2 simple rules (you must strictly follow) in order to discover hot and profitable trades which will double within 23 minutes of the market opening...
Your Name:
Your E-Mail:

On the other hand, if you have the required amount of courage pumping through your veins... and... you are the kind of person who likes to take scientifically analyzed and carefully calculated risks. Then the "Doubling Stocks" newsletter is exactly what you're looking for.
Another thing to remember is, when you trade penny stocks, it's impossible to lose a penny more than your initial investment.
OK, let's get down to "brass tacks". I already told you, "Doubling Stocks" costs a token amount of $47.00. This subscription will last for as long as the newsletter keeps going (years and years). And this is a one off subscription price, you will never again be rebilled.
Will Michael's newsletter help you? Will his stock picks continue to generate an average of 105.28% profit? Here's how you can find out without risking a single penny...
...Try Michael's Newsletter "Doubling Stocks",Absolutely FREE For 8 Weeks!
If you decide to pay via check. Michael insists you postdate your check for 8 weeks in advance. Or if you decide to pay with credit card... At any point up to 8 weeks after joining you may email "support [at] doublingstocks.com" for a full refund (including processing fees).
As soon as Michael receives your order, He will immediately contact you by email and send your "welcome package". The very next Sunday you will receive your first stock trade.
After that, you've still got 7-1/2 more weeks... to place the trade and see for yourself if it is as profitable as I say it is.
If it isn't, you can simply stop payment on your check or, call Michael... and... He will be happy to send back your uncashed check or refund your full joining fee. This way...
You Will Have Lost... Nothing!
Have you ever heard of anything like that before? There are just too many times in life when people are NOT willing to hold themselves accountable for their own services.
How many people have a stock broker who will guarantee he will make you money... or... he will refund your investment? Is there an attorney who will guarantee he will win your case... or... he will refund your money? Michael is thoroughly willing to make such a statement... and... more than willing to back it up.
In Summary...
From what I have described above. You have a 8 week risk free trial where you may test Michael's newsletter. Within those 8 weeks, one email to "support [at] doublingstocks.com" and he will refund your joining fee (including credit card processing fees).
Furthermore after receiving your joining fee Michael will email you “The Penny Stock Bible”. This is a 68 page guide which will allow anyone (even someone whom has never traded before) to use Marl’s picks. And even if you decide to request a refund, Michael will let you keep the “Penny Stock Bible” (worth ($29.95).
That way, whatever the outcome of this...
...You Will Profit!
Above: Michaels Office in Seattle
If I'm wrong about all of this, you've lost only a couple of minutes of your time. But what if I'm right?
Oh and by the way Michael's company "Global Marketing Corporation Ltd" is located at 93 S. Jackson Street #56595, Seattle, WASHINGTON 98104-2818, UNITED STATES. That's right across from City Hall and exactly opposite the Public Library. If you have any questions, you can open a support ticket at his help desk () or call him on (44)7835400828.
If you'd like to stop by at Michael's office, you can drive straight to Seattle. His office (pictured, left) is the building right on the corner. Michael invites all of his subscribers to pop by anytime they are in the area. Monday to Friday, normal working hours.

Try Doubling Stocks With the....8 Week Free Trial:
Try Michael's Newsletter Without Risk...
14 Places Left to Trial Michael's Newsletter!$47.00 One Off Subscription AmountIncluding an 8 Week Free Trial...

There is a true limit on the number of newsletter subscribers Michael can accept. If all 14 places are gone at the time of your order -- We will kindly reverse the transaction and email you if a space becomes available.
This is 100% Risk Free...

10/18/2007

10/18/2007

10/18/2007
-->
P.S: Just think, had you put $5000 on each of Marl's recommended trades over the last 4 months– You would now have $387,684 clear profit sitting in your bank account.
P.S.#2: Remember there is absolutely no reason for you to leave this page empty handed! You can at least take advantage of the 8 week free trial and start earning without any risk - If you're not earning a substantial income within 8 weeks email me (you don't even need an excuse) just tell me you weren't satisfied and you won't be charged a single dime!
© 2006 DoublingStocks.com, All Rights Reserved,

forex techniques

2007-10-16T20:56:00.001-07:00

Planning Forex trading strategies
Forex trading strategies are based on fundamental and technical types of analysis. This article gives you a better understanding of both types and ways of implementing them into your Forex trading strategies.
FUNDAMENTAL ANALYSIS
Political and economic changes are the basis here as they frequently affect currency prices. Traders relying on this analysis gather information about unemployment forecasts, political ideologies, economic policies, inflation and growth rates from news sources. Most traders combine Forex trading strategies to plot actual entrance and exit points and double-check the information.
Forex trading strategies consider that just like most markets the market is controlled by supply and demand. The two most critical affecting factors for them are interest rates and the strength of the economy that is affected by changes in the GDP, trade balances and the amount of foreign investment.
There are many indicators released by government and academic sources on a weekly or monthly basis. The most important and commonly followed are: interest rates, international trade, CPI, durable goods orders, PPI, PMI and retail orders. These are pretty reliable measures of economic health and are closely followed by all traders that rely on fundamental analysis while mapping out their Forex trading strategies.
Interest rates can strengthen or weaken the currency. In some cases high interest rates attract foreign money, however high interest rates frequently cause stock market investors to sell off their portfolios. They do so believing that the higher cost of borrowing money will adversely affect many companies. If enough investors sell off their holdings it can cause a downturn in the market and negatively affect the economy. Which of these two effects will take place, depends on many complex factors. Usually economic observers agree on how the current change in interest rates will affect the general economy and currency prices.
International Trade. If there is a trade deficit, it is usually considered a negative indicator, as more money is leaving the country than entering it. This can have a devaluing effect on the currency, but usually trade imbalances are already factored into the market consideration. If a country normally operates with a trade deficit, currency price should be unaffected. It will change if the deficit is greater than expected.
The cost of living (CPI) and the cost of producing goods (PPI) are important indicators as well. You should also watch the GDP (the value of all the goods produced in the country) and the M2 Money Supply which measures the total amount of currency for a country.
In the US alone there are 28 major indicators that have a strong effect on the financial market and should be closely watched. This information can be found on the Internet and is provided by many brokers. Use it for working out your Forex trading strategies.
TECHNICAL ANALYSIS
It is based on the following assumptions:
1. Combined market forces (political events, economic conditions, seasonal fluctuations, supply and demand) cause currency price movements considered in Forex trading strategies.
2. Currency prices on the Forex market follow trends. Predictable consequences have been linked with many recognized market patterns.
3. Forex trading strategies can rely on historical trends to predict current price movements. Forex market data has been collected for the last 100 years, over that time certain patterns have become emergent. Human psychology and the way people react to certain circumstances are the basis of these patterns.
Most traders consider technical analysis to be of critical importance even though they may also use fundamental analysis to support and confirm their Forex trading strategies. Unlike fundamental analysis, technical analysis can be applied to many currencies and markets at the same time. Since fundamental analysis requires detailed knowledge of the economic and political conditions of a certain country, it is nearly impossible for any single trader to perform it properly on more than a few countries.
Forex beginners may consider the complexities of technical analysis overwhelming and even unnecessary but if you wish to ensure the success of your Forex trading strategies do not ignore both analysis types.
Any quality online Forex broker should be able to supply you with a large variety of online charts for technical analysis. Working out your Forex trading strategies, you can purchase in-depth professional charts, there is usually a monthly fee involved in gaining access to this information. There is also free software available to help you with charting. Good charts are updated in real time.
Mapping out your Forex trading strategies, you should learn the market and study trends before you begin active trading. Most brokers will provide you with a practice account where you can place "paper trades" - practice trades where no real money is made or lost. But they act just like a real trade, so you can see exactly how your trade would have turned out if you had placed it for real. This allows you to become familiar with your broker's system as well as learning about the market without risking any money.
The second part of this article explores various charts and indicators you need to use while planning your unique Forex trading strategies.
READING FOREX CHARTS
Price charts can be simple line, bar or even candlestick graphs. They show prices during specified time intervals that can be anywhere from minutes to years.
Line charts are the easiest to read, they give a broad overview of price movement. They only show the closing price for the specified interval and make it easy to pick out patterns and trends.
With a bar chart the length of a line displays the price spread during the time interval. The larger the bar, the greater the price difference between the high and low price for that interval. It is easy to tell at a glance if the price rose or fell, because the left tab shows the opening price and the right tab the closing price. Then the bar will give you the price variation.Pprinted bar charts can be difficult to read but most software charts have a zoom function so you can easily read even closely spaced bars while mapping out your Forex trading strategies.
Candlestick charts are very similar to bar charts - they both show high, low, open and closed prices for indicated time periods. Originally developed in Japan for analyzing candlestick contracts, they are very useful for analyzing Forex prices and are therefore a handy "tool" in Forex trading strategy planning. However the color coding makes it easier to read the chart, green candlestick indicates the rising price and the red - the falling price. [(I DON'T UNDERSTAND THE LOGIC OF THIS LAST SENTENCE. WHY HOWEVER? SHOULD IT BE "EASIER TO READ THAN:"?]
The actual candlestick shape in reference to the candlesticks around it will tell you a lot about the price movement and will greatly aid your analysis. Depending on the price spread various patterns will be formed by the candlesticks. Many of the shapes have exotic names, but once you learn the patterns, they are easy to pick out, analyze and use while working out your Forex trading strategies.
Price charts are not usually used alone. To get the full effect, you need to combine them with some technical indicators: trend, strength, volatility and cycle indicators. The most commonly used indicators are:

Average Directional Movement Index (ADX) helps indicate if the market is moving in a trend in either direction and how strong the trend is. If a trend has readings in excess of 25 then it is considered a stronger trend. Effective "tool" when planning your Forex trading strategies.
The Moving Average Convergence/Divergence (MACD) shows the relationship between the moving averages which allows you to determine the momentum of the market. Any time that the signal line is crossed by the MACD it is considered to be a strong market.
The Stochastic Oscillator compares the closing price to the price range over a specific time frame to determine the strength or weakness of the market. If a currency has a stochastic of greater than 80 it is considered overbought. However, if the stochastic is under 20 then the currency is considered undersold.
The Relative Strength Indicator (RSI) is a scale from 1 to 100 that compares the high and low prices over time. If the RSI rises above 70 it is considered overbought where as anything below 30 is considered oversold.
The Moving Average is created by comparing the average price for a time period to the average price of other time periods.
Feel free to use these indicators to map out successful Forex trading strategies.

forex trading account types

2007-10-16T20:50:00.000-07:00

LiteForex offers revolutionary trading technology for beginner traders, and lets you start trading in the Forex market depositing just ONE DOLLAR! Your deposit appears in US cents on the Lite group accounts, so you feel like you are trading the same amount in US Dollars. This new technology allows Forex beginners to learn Forex in a REAL life situation with minimal investment!
LiteForex also offers competitive trading conditions for Forex professionals all around the world, and provides a dedicated Forex trading server and experienced customer support as well as analysis of Forex market and a professional affiliate program.
With more than 75,000 serviced users, 23,000 unique and live Forex trading accounts, 100 new traders every day, and more than 600,000 live orders every month, LiteForex is one of the most popular and fastest growing Forex companies in the world.
Take your first step to financial freedom Enter the Forex world!
LiteForex is a service mark and division of Straighthold Investment Group, Inc. - an independent market maker based on a MetaTrader 4, a very powerful and popular Forex trading platform, known throughout the world.
Join the very experienced Forex trader community learn how to use the MetaTrader 4 platform!

Straighthold Investment Group, Inc. has developed 4 main steps for working professionally on the Forex market. There are 4 account types available to our clients, so each trader can choose to manage the Forex account he/she likes best:
MINILite The MINILite account group has been developed for beginners above all, but can also be used by traders who wish to test their mechanical trading systems. The main advantage of the MINILite managed Forex account is that you only need a starting deposit of 1 US dollar. After you open the MINILite managed Forex account you can trade through our company on the same terms as other traders, who work on other account groups. The only difference is the operating amount.*
100KLite The 100KLite account group has been designed to help with the psychological aspect of trading during the period of transition from virtual or mini-trading to live trading. This managed Forex account can be used as an intermediate stage while transitioning from virtual trading or the MINILite account trading to the MINIForex or 100KForex* professional managed Forex accounts.
MINIForex MINIForex is the most popular type of managed Forex account among traders of Straighthold Investment Group as it offers wide and versatile opportunities to start getting stable incomes.
100KForex This account group is particularly intended for Forex professionals who have sufficient experience working with large sums. After you study the comparison characteristics of the account groups below, you can make your choice:
* Lot size is indicated in the base currency units ** Margin requirement and locked margin are indicated for 1:100 leverage *** Margin to enter into a position and to preserve two locked positions on one instrument (+1.0 and -1.0) comprises[locked margin] х 2 **** Interest rate (annual) on the account balance, non-involved into trading, is calculated monthly.
Regardless of the type of your managed Forex account, Straighthold Investment Group, Inc. offers a wide selection of trading instruments as well as competitive spreads and swaps

forex enterprise

2007-10-15T21:17:00.000-07:00

“Here Is A Way To Make Money That Has Never Yet Failed”
Dear Friend,
Just 4 years ago I was in your position.
I was desperate and broke. I tried running my own business. In fact I spent 4 months trying to create a living for myself online.
I eventually gave up. I had made $56.78 in 4 months of sweat and sometimes tears.
I thought I’d give up. Get a job as a postal worker, and instead of running a successful business I’d derive pleasure from my family or hobbies.
It seemed like a plan...
And so I eventually found myself walking to the mail depot around 4 miles from my home. I asked the lady at the desk for an application form, only to be told the jobs were so thin on the ground I’d be wasting my time.
Besides she told me, they’d run out of application forms that morning.
...I Couldn’t Even Get a Job As a Mailman!
That was it. I was sick and tired.
Life at that point sucked... I was getting tired of stealing food and bumming other people’s cigarettes and not having the rent money. It was no fun shinning down a drainpipe to ensure I avoid meeting my landlady in the hall.
I started working on a system for making money.
I had done this before, but there was a distinct difference. You’ see this time I was 3 months late on my rent, another 8 days and it was to become 4.
My then girlfriend (now wife) was pregnant and expecting the baby within 3 months.
I started thinking. I called this “Gun to Head” thinking, because that’s almost literally what it was.
If I couldn’t come up with the money we’d be thrown out, and the first glimpse my daughter would have of this world would be in “comfortable poverty”.
I left my morals on the wayside for this one...
Because what I came up with involved...
Stealing!
It wasn’t illegal. You’ see I wasn’t stealing anything of physical value.
I was “stealing” other people’s online incomes. In fact I was halfway to Robin Hood. I’d steal from the rich, but I hadn’t got round to giving to the poor.
My methods involved a discovery of how I could accurately estimate the revenue a website was generating, to within $200.
I’d then “Steal” there idea. I’d recreate their website, and all I needed to invest was around $20 in each of “my ideas”.
Within months I was almost earning too much money. I was averaging $256 per day in income.
Take a look at my house and cars:
Above: Me and my 2 cars, notice the Forex Enterprise sign!
Now putting that picture above may seem braggadocios, but I think it’s necessary.
And the point is to show you that I am not a fake or a phony. I started with nothing and now make $4256.37 on average every day.
I’m not guaranteeing you that kind of success. But by following my exact system, even if you earn 2% of what I managed. That’s $85.12 every day.
And I’m certainly not any cleverer than you. Mr Armstrong from Hampton high school would tell you that.
Now, I realise that the picture above is not enough proof that I am rich. Hell let’s be honest, I could have hired that car for under $200, and taken a picture outside a rich friend’s house.
But I didn’t and so here is the ultimate proof.
You’ll see many sites promising to teach you how to make money. But never will you see what I am about to show you.
Because I’m about to log into my own PayPal accounts. I’m about to log into my own credit card merchant account. All live on video.
I’ll show you undeniable proof that I truly earn $4256.37 (give or take $1000) everyday, which by the way... works out at $177.34 per hour and close to $1600 while I sleep!
It would be almost impossible for me to falsify what you are about to witness:
Have you ever seen proof like that before?
Or how about this. My story was featured in the local Newspaper Business Magazine; check out this cutting promoting the article:

So, what does this “system” involve?
Well one night I was bored watching TV, I sat and wrote on a piece of paper the things I consider to be critically important for a website to be immensely profitable.
FYI: When I say “immensely profitable” – I mean earning over $80/day on Autopilot.
Now, would you believe it I came up with only four things – and all so simple an 8 year old could master them in less than 30 minutes.
All you need is a little investment money, as little as $20 – And if you follow these 4 simple rules (strictly!) then...
You Can Take Part in a Money Making System
That Has Never Yet Failed!
Now let’s talk about what this system requires:
It doesn’t require “education”. I’m a high school graduate.
It doesn’t require “capital”. When I started out I was so deep in debt, my bank manager advised bankruptcy as the only way out. He was wrong.
It doesn’t require “luck”. I’ve had more than my fair share, although there is not one person who has put my system into practice and failed.
It doesn’t require “talent”. Just enough brains to follow 4 simple rules.
It doesn’t require you to live in a certain country. Some of my members are making money from Europe, Others from Africa or Asia.
What does it require? Belief. Enough to take a chance. Enough to learn the 4 simple rules. Enough to copy my system. If you do just that – no more, no less – Your bank account will “fatten” at an incredible rate.
The bottom line is that the internet is neither prejudice, nor racist, nor sexist – No matter who you are... if you can follow 4 rules you can make almost too much money.
Now I know that you’re probably very sceptical. After all everything I’ve said goes against you’ve been told. By your parents, your friends, your teachers and your colleagues.
But let me ask you this.
How many of them are millionaires?
Now, I don’t want you to take my word on all of this. My system has helped many thousands of people to make hundreds of dollars each day... In fact I have never received an email from someone who has truly tried putting the 4 rules into practice and failed.

forex news

2007-10-15T21:15:00.000-07:00

India's Forex Reserves Top $250 Billion
Among the so-called BRIC developing countries (Brazil, Russia, India, China), India is probably the second hottest economy at the moment, after China of course. And following in the footsteps of other developing countries, it is quickly building a massive stock of foreign exchange reserves in order to hold down inflation. Previously, I resisted covering India, because its reserves were small compared to those of China and Japan and hence its potential impact on the Dollar was limited. However, having set another record, India's forex reserves now top $250 Billion, which rank the country among the highest in the world in this regard. In fact, India is accumulating reserves at the blistering rate of $3 Billion/week! The breakdown of the reserves (in terms of foreign currency) is unclear, but it seems reasonable to believe that it is dominated by Dollar assets.
UK Pound Nears Plateau
The UK Pound has been on a tear recently, both against the USD and more surprisingly, against the Euro. The currency has been given a boost by the Bank of England’s reluctance to cut its benchmark interest rate, which at 5.75%, remains the highest among the world’s major currencies. However, many economists feel the case for a rate cut is growing stronger every month, whether or not the Bank of England is willing to acknowledge it. Inflation is only moderately high, while the fall in housing prices-exacerbated by a prolonged period of tight money-threatens to drag down the entire economy. The markets are still pricing in a rate cut by year-end, which would surely drag down the Pound should it obtain. Dow Jones Newswires reports:
“We strongly suspect that market pessimism in this respect will continue to grow, in reverse proportions to its expectations of a further hike in U.K. interest rates,” said…a senior currency strategist.
Bank of Japan Leaves Rates Alone
As expected, the Bank of Japan left its benchmark interest rate unchanged at its latest meeting. The current rate of .5% remains the lowest in the industrialized world and thus will continue to fuel the Japanese carry trade. The Bank fended off the criticism of several European Ministers, wary of the Yen’s continued appreciation against the Euro, including a 5% increase in the last month alone. The EU has insisted that Japan should hike rates immediately both to avoid global economic imbalances and to prevent its own economy from overheating. Japan defended its decision by pointing to certain small business indicators, which suggest the sector is still underperforming. Carry traders, rest easy. Bloomberg News reports:
“The Bank of Japan will probably need to put off a hike at least until December to nail down its assessment of global growth as well as the performance of small companies,” said Masaaki Kanno, a former central bank official.
Europe Asks China to Revalue Yuan
Evidently frustrated by the Euro’s appreciation against the USD, a group of EU ministers has turned its attention to China, calling on it to allow the Yuan to appreciate against the Euro. While the Yuan has appreciated nearly 10% against the USD over the last two years, it has actually decreased in value against the Euro. As a result, the EU trade deficit has set a fresh record nearly every month. Unfortunately, the Yuan basically remains pegged to the USD, and since the USD is depreciating faster against the Euro than against the Chinese Yuan, the law of triangular arbitrage dictates the Euro must be appreciating against the Yuan. It appears China’s hands are tied. Bloomberg News reports:
“I can assure you China will continue to adopt a reform oriented policy on its exchange-rate mechanism,” said a Chinese Foreign Ministry spokesman. “But these adjustments have to be done gradually and in line with the market.”
How to Profit from a Falling Dollar
The Dollar has been sliding steadily for close to a year, and Wall Street has been rushing to introduce a spate of new investment products to help investors profit accordingly. For those who do not want to trade currencies directly, Exchange Traded Funds (ETF’s), probably represent the best alternative. The typical currency ETF tracks a basket of currencies and most ETFs are characterized by low fees. In fact, over $2.7 Billion is currently invested in such ETF’s, which have risen from virtually nothing over the last 7 years. Another option is to buy CDs or other money market instruments denominated in other currencies. Online banks such as Everbank offer such products. Yet another option is to buy shares in mutual funds that aim to mimic the returns offered by investing directly in foreign money market instruments. Finally, one can simply buy shares in foreign companies or in American multinational companies that do significant business abroad.
IMF Comments on Currencies
Rodrigo Rato, outgoing president of the International Monetary Fund ("IMF") recently offered his two cents on developments in the forex markets. He began by cautioning against "excessive volatility," or the rapid fluctuations which have recently afflicted many of the world's major currencies. Next, he suggested that the Dollar has moved from being massively overvalued to being massively undervalued. In other words, it is his assessment that the Dollar has depreciated far too rapidly over the last few years. Finally, he suggested that a tightening of Japanese monetary policy would be in the best interest of global economic stability. As Rato is no doubt aware, higher Japanese interest rates would put an end to the carry trade, and drive the Yen upwards in value. The Financial Times reports:
The outgoing IMF chief also hints at unease about Japan's yen, which remains weak in part because of ultra-low interest rates. “Normalisation of monetary policy in Japan is an important medium-term objective.”
Japanese Forex Reserves Near $1 Trillion
Japan's Central Bank now controls over $950 Billion in foreign exchange reserves, second only to those of China. While Japan is not accumulating significant new reserves, its existing reserves have appreciated in value due to the Euro's recent ascent. Analysts are keeping a close eye on the reserves of both countries, which represent close to 50% of the world's foreign exchange reserves. In addition, analysts will be watching China, which may take a cue from Japan and diversify some of its reserves into Euro-denominated assets in order to offset the effect of the declining Dollar. AFX News Limited reports:
Japan's reserves are closely watched for evidence of how the country is managing its foreign currency holdings. Its actions are seen as having a significant impact on exchange rates and bond markets around the world, particularly the US government bond market.

forex for dummies

2007-10-14T10:51:00.000-07:00

Forex for Dummies

Forex Basics

If you've already read our What is Forex? section then you should know what Forex market is and what it is all about. If not, please, do so. There are five essential aspects of foreign currency market a beginner trader (and an old one as well) should be aware of:
Forex Fundamental Analysis
Forex Technical Analysis
Money Management
Forex Trading Psychology
Forex Brokerage

Understanding and mastering these sides of trading are crucial to organize your Forex trading experience.

Forex Fundamental Analysis

Fundamental analysis is the process of market analysis which is done regarding only "real" events and macroeconomic data which is related to the traded currencies. Fundamental analysis is used not only in Forex but can be a part of any financial planning or forecasting. Concepts that are part of Forex fundamental analysis: overnight interest rates, central banks meetings and decisions, any macroeconomic news, global industrial, economical, political and weather news. Fundamental analysis is the most natural way of making Forex market forecasts. In theory, it alone should work perfectly, but in practice it is often used in pair with technical analysis. Recommended e-books on Forex fundamental analysis:
Forex Technical Analysis

Technical analysis is the process of market analysis that relies only on market data numbers - quotes, charts, simple and complex indicators, volume of supply and demand, past market data, etc. The main idea behind Forex technical analysis is the postulate of functional dependence of the future market technical data on the past market technical data. As well as with fundamental analysis, technical analysis is believed to be self-sufficient and you can use only it to successfully trade Forex. In practice, both analysis methods are used. Recommended e-books on Forex fundamental analysis are:
The Law Of Charts
Candlesticks For Support And Resistance
Trend Determination

Money Management in Forex

Even if you master every possible method of market analysis and will make very accurate predictions for future Forex market behavior, you won't make any money without a proper money management strategy. Money management in Forex (as well as in other financial markets) is a complex set of rules which you develop to fit your own trading style and amount of money you have for trading. Money management play very important role in getting profits out of Forex, do not underestimate it. To get more information on money management you can read these books:
Risk Control and Money Management
Money Management (A chapter from The Mathematics of Gambling)

Forex Trading Psychology

While learning a lot about market analysis and money management is an obvious and necessary steps to be a successful Forex traders, you need to master your emotions to keep your trading performance under strict control of mind and intuition. Controlling your emotions in Forex trading is often a balancing between greed and cautiousness. Almost any known psychology practices and techniques can work for Forex traders to help them keep to their trading strategies rather to their spontaneous emotions. Problems you'll have to deal while being a professional Forex trader:
Greed
Overtrading
Lack of discipline
Lack of confidence
Blind following others' forecasts

These are very professional books on psychology written specially for financial traders:
Calming The Mind So That Body Can Perform
Emotion Free Trading
The Miracle of Discipline

Forex Brokerage

Every Forex trader like any other professional needs tools to trade. One of these tools, which is vital to be in market, is a Forex broker and specifically for Internet - on-line Forex broker - a company which will provide real-time market information to trader and bring his orders to Forex market. While choosing a right Forex broker things to look for are the following:
Being a professional company you can trust
Provide you with real-time quotes
Execute your orders fast and accurately
Don't take a lot of commissions
Support the withdraw/deposit methods you use

For beginning Forex traders I recommend these three broker companies, which are probably best Forex brokers to start with:
LiteForex - broker that supports MetaTrader 4 Forex trading platform and doesn't require a lot of money to start with.
FXcast - good because you can start trading Forex with as little as 1$. They have easy-to-use trading platform (FXcast Swing) along with a Metatrader 4 platform, while you can deposit and withdraw money via e-gold, WebMoney and many other ways.
ForexYard - Java based trading platform available, while you can deposit and withdraw money via e-gold.

mni forex

2007-10-14T10:48:00.000-07:00

Mini Forex Trading

GCI is widely recognized as one of the premier providers of online foreign exchange dealing services. In addition to its Standard Forex Account, GCI offers a Mini Forex Account which offers a smaller contract size and lower margin requirements. Benefits include:

Rapid and fair trade execution. Market orders are confirmed within seconds at prices clicked on or accepted by the client. Furthermore, GCI has a "zero slippage guarantee" for all Forex Stop and Entry Stop orders that are placed at least one minute before the market reaches your specified price.

Zero commissions for all accounts. Client trading performance is enhanced by eliminating all commissions.

State-of-the-art trading software. The GCI trading software provides real-time prices in 15 major currencies, live charts, and real-time P&L and account equity tracking. We believe that this trading software has set new standards in performance and reliability.

USD or Euro Denominated Trading Accounts. GCI clients can now choose to maintain their account balance and P&L in either USD or Euros. Select the Base Currency you want for your account on the account application.

Tight 3 - 5 pip spreads. Clients can trade on 3 - 5 pip spreads in major currencies and crosses, 24 hours a day.

Broad offering of financial products. In addition to currencies, you can trade mini versions of Dow Jones, Gold, S&P 500, other equity indices from your Mini Forex account. Trading opportunities and profit potential are that much higher. Click here for a full list of products and specifications.

$500 minimum account balance. GCI provides access to spot forex trading for individuals as well as institutions. Margin requirements are $50 per lot.

Risk is limited to deposited funds. GCI's sophisticated margin and dealing procedures mean that clients can never lose more than their funds on deposit.

Hedging Capability. Clients can open positions in the same currency in opposite directions, without the positions offsetting and without using additional margin.

Tools for successful trading. GCI clients benefit from a wide array of resources to improve their trading results, including market analysis and research, real-time charts

Overview of GCI Financial

GCI Financial Ltd ("GCI") is one of the world's largest online foreign exchange and Share CFD brokers, executing billions of dollars per month in foreign exchange transactions alone. In addition to Forex, GCI is a primary market maker in Contracts for Difference ("CFDs") on shares, indices and futures, and offers one of the fastest growing online CFD trading services. GCI has over 10,000 clients worldwide, including individual traders, institutions, and money managers. GCI provides an advanced, secure, and comprehensive online trading system. Client funds are insured and held in a separate customer account. In addition, GCI Financial Ltd maintains Net Capital in excess of minimum regulatory requirements for securities brokers and futures dealers.

why forex is better than othere?

2007-10-11T21:46:00.000-07:00

Commission-free forex trading
Trade on spreads as low as 1-2 pips on the most widely traded currencies. As always, you pay no commissions at FOREX.com, only the bid/offer spread. Our fractional pip pricing is the most precise quoting currently available to forex traders anywhere and is designed to help you take advantage of smaller price movements
Quality executions
Our mission is to provide a fair, efficient trading environment for our clients, which means quoting competitive spreads and ensuring quality executions. Our best execution goal is supported by liquidity relationships with over a dozen of the world's leading FX banks, such as UBS, Barclays and Goldman Sachs. Plus, there are no restrictions on trading in volatile markets or before and after major economic announcements.
Powerful trading tools Spot and seize potential market opportunities with our forex trading platform. We make it easy to put your trading strategy into action with advanced order management tools
24-hour access to licensed representatives Reach our knowledgeable, Series 3 registered reps 24-hours a day during market hours and on Saturdays from 9am-5pm ET.
Market research you can count on Our experienced research team provides robust market analysis you won't find anywhere else, from real-time commentary to essential daily and weekly reports that summarize key market developments with an insightful perspective.
System stability and reliability Our technology infrastructure is designed to support a 24-hour trading environment with 100% uptime. We subject our systems to rigorous testing and maintain multiple connections through several Tier 1 Internet backbones to assure connectivity for our clients around the globe.

What is forex?

2007-10-11T21:43:00.001-07:00

FOREX (FOReign EXchange market) is an international foreign exchange market, where money is sold and bought freely. In its present condition FOREX was launched in the 1970s, when free exchange rates were introduced, and only the participants of the market determine the price of one currency against the other proceeding from supply and demand.
As far as the freedom from any external control and free competition are concerned, FOREX is a perfect market. It is also the biggest liquid financial market. According to various assessments, money masses in the market constitute from 1 to 1.5 trillion US dollars a day. (It is impossible to determine an absolutely exact number because trading is not centralized on an exchange.) Transactions are conducted all over the world via telecommunications 24 hours a day from 00:00 GMT on Monday to 10:00 pm GMT on Friday. Practically in every time zone (that is, in Frankfurt-on-Main, London, New York, Tokyo, Hong Kong, etc.) there are dealers who will quote currencies.
FOREX is a more objective market, because if some of its participants would like to change prices, for some manipulative purpose, they would have to operate with tens of billions dollars. That is why any influence by a single participants in the market is practically out of the question. The superior liquidity allows the traders to open and/or close positions within a few seconds. The time of keeping a position is arbitrary and has no limits: from several seconds to many years. It depends only on your trading strategies. Although the daily fluctuations of currencies are rather insignificant, you may use the credit lines, that are accessible even to currency speculators with small capitals ($ 1,000 - 5,000), where the profit may be impressive. (You can learn more about it in the section:
The idea of marginal trading stems from the fact that in FOREX speculative interests can be satisfied without a real money supply. This decreases overhead expenses for transferring money and gives an opportunity to open positions with a small account in US dollars, buying and selling a lot of other currencies. That is, on can conduct transactions very quickly, getting a big profit, when the exchange rates go up or down. Many speculative transactions in the international financial markets are made on the principles of marginal trading.
Margin trading is trading with a borrowed capital. Marginal trading in an exchange market uses lots. 1 lot equals approximately $100,000, but to open it it is necessary to have only from 0.5% to 4% of the sum.
For example, you have analyzed the situation in the market and come to the conclusion that the pound will go up against the dollar. You open 1 lot for buying the pound (GBP) with the margin 1% (1:1000 leverage) at the price of 1.49889 and wait for the exchange rate to go up. Some time later your expectations become true. You close the position at 1.5050 and earn 61 pips (about $ 405).
Everyday fluctuations of currencies constitute about 100 to 150 pips, giving FX traders an opportunity to make money on these changes.
In FOREX, it's not obligatory to buy some currency first in order to sell it later. It's possible to open positions for buying and selling any currency without actually having it. Usually Internet-brokers establish the minimum deposit such as $ 2000, for working in the FOREX market, and grant a leverage of 1:100. That is, opening the position at $100,000, a trader invests $1,000 and receives $99.000 as a credit. The major currencies traded in FOREX, are Euro (EUR), Japanese yen (JPY), British Pound (GBP), and Swiss Franc (CHF). All of them are traded against the US dollar (USD).
In order to assess the situation in the market a trader has to be able to use fundamental and/or technical analysis, as well as to make decisions in the constantly changing current of information about political and economic character. Most small and medium players in financial markets use technical analysis. Technical analysis presupposes that all the information about the market and its further fluctuations is contained in the price chain. Any factor, that has some influence on the price, be it economic, political or psychological, has already been considered by the market and included in the price. The initial data for a technical analysis are prices: the highest and the lowest prices, the price of opening and closing within a certain period of time, and the volume of transactions.A technical analysis is founded on three suppositions:
Movement of the market considers everything;
Movement of prices is purposeful;
History repeats itself. That is, technical analysis is a statistical and mathematical analysis of previous quotes and a prognosis of coming prices.
A number of technical indicators have been installed into the PRO-CHARTS trading system. Analyzing the indicators one can come to the conclusion about further movements of the quoted currencies. For a more detailed description of the indicators, analyzing price charts and volumes of trading, Fundamental analysis is an analysis of current situations in the country of the currency, such as its economy, political events, and rumors. The country's economy depends on the rate of inflation and unemployment, on the interest rate of its Central Bank, and on tax policy. Political stability also influences the exchange rate. Policy of the Central Bank has a special role, as concentrated interventions or refusal from them greatly influence the exchange rate.
At the same time one should not consider fundamental analysis just as an analysis of the economic situation in the country itself. A far bigger role in the FOREX market belongs to the expectations of the market participants and their assessment of these expectations. Various prognoses and bulletins, issued by the participants, have a strong influence on the expectations. Very often an effect of the so-called self-filfilling prophecy occurs when market players raise or lower the exchange rates according to the prognosis. But a deep and thorough fundamental analysis is available only for big banks with a staff of professional analysts and constant access to a wide field of information.
In spite of these different approaches, both forms of analyses complement one another. Traders who act on the basis of a fundamental analysis, have to consider some technical characteristics of the market (the main rates of support, such as resistance and resale), and supporters of the technical approach to the market must track the main news (interest rates, important political events).The main merits of the FOREX market are:
The biggest number of participants and the largest volumes of transactions;
Superior liquidity and speed of the market: transactions are conducted within a few seconds according to online quotes;
The market works 24 hours a day, every working days;
A trader can open a position for any period of time he wants;
No fees, except for the difference between buying and selling prices;
An opportunity to get a bigger profit that the invested sum;
Qualified work in the FOREX market can become your main professional activity;
You can make deals any time you like.

Foreign exchange reserves

2007-10-10T20:52:00.000-07:00

Foreign exchange reserves (also called Forex reserves) in a strict sense are only the foreign deposits held by central banks and monetary authorities. However, the term foreign exchange reserves in popular usage commonly includes foreign exchange IMF reserve position as this total figure is more readily available, however it is accurately deemed as official reserves or international reserves.
History
Reserves were formerly held only in gold, as official gold. . This effectively made dollars appear as good as gold. The U.S. later abandoned the gold standard, but the dollar has remained relatively stable, and it is still the most significant reserve currency. Central banks now typically hold large amounts of multiple currencies in reserve.

Purpose
The purpose of reserves is to allow central banks an additional means to stabilise the issued currency from excessive , and protect the from shock, such as from currency traders engaged in . Large reserves are often seen as a strength, as it indicates the backing a currency has. Low or falling reserves may be indicative of an imminent on the currency or, such as in a .
Central banks sometimes claim that holding large reserves is a security measure. This is true to the extent that a central bank can prop up its own currency by spending reserves. (This practice is essentially large-scale manipulation of the global currency market. Central banks have sometimes attempted this in the years since the 1971 collapse of the. A few times, multiple central banks have cooperated to attempt to manipulate exchange rates. It is unclear just how effective the practice is.) But often, very large reserves are not a hedge against inflation but rather a direct consequence of the opposite policy: the bank has purchased large amounts of foreign currency in order to keep its own currency relatively cheap.

Changes in reserves
The quantity of foreign exchange reserves can change as a central bank implements monetary policy. A central bank that implements a fixed exchange rate policy may face a situation where supply and demand would tend to push the value of the currency lower or higher (an increase in demand for the currency would tend to push its value higher, and a decrease lower). In a fixed exchange rate regime, these operations occur automatically, with the central bank clearing any excess demand or supply by purchasing or selling the foreign currency. Mixed exchange rate regimes ('dirty floats', target bands or similar variations) may require the use of foreign exchange operations (sterilized or unsterilized) to maintain the targeted exchange rate within the prescribed limits.
Foreign exchange operations that are unsterilized will cause an expansion or contraction in the amount of domestic currency in circulation, and hence directly affect monetary policy and inflation: "An exchange rate target cannot be independent of an inflation target. Countries that do not target a specific exchange rate are said to have a , and allow the market to set the exchange rate; for countries with floating exchange rates, other instruments of monetary policy are generally preferred and they may limit the type and amount of foreign exchange interventions. Even those central banks that stricly limit foreign exchange interventions, however, often recognize that currency markets can be volatile and may intervene to counter disruptive short-term movements.
To maintain the same exchange rate if there is increased demand, the central bank can issue more of the domestic currency and purchase the foreign currency, which will increase the sum of foreign reserves. In this case, the currency's value is being held down; since (if there is no ) the domestic money supply is increasing (money is being 'printed'), this may provoke domestic inflation (the value of the domestic currency falls relative to the value of goods and services).
To maintain the same exchange rate if there is decreased demand, the central bank can purchase the domestic currency using its foreign reserves, effectively removing the domestic currency from circulation; the total foreign exchange reserves will fall. If there is no sterilization, the domestic money supply is also falling, which will tend to restrain domestic inflation (the value of the domestic currency rises relative to the value of goods and services).
Since the amount of foreign reserves available to defend a weak currency (a currency in low demand) is limited, a foreign exchange crisis or could be the end result. For a currency in very high and rising demand, foreign exchange reserves can theoretically be continuously accumulated, although eventually the increased domestic money supply will result in inflation and reduce the demand for the domestic currency (as its value relative to goods and services falls). In practice, "Some central banks, through open market operations aimed at preventing their currency from appreciating, can at the same time build substantial reserves.
In practice, few central banks or currency regimes operate on such a simplistic level, and numerous other factors (domestic demand, production and productivity, imports and exports, relative prices of goods and services, etc) will affect the eventual outcome. As certain impacts (such as inflation) can take many months or even years to become evident, changes in foreign reserves and currency values in the short term may be quite large as different markets react to imperfect data.

Costs and benefits
On one hand, if a country desires to have a government-influenced exchange rate, then holding bigger reserves gives the country a bigger ability to manipulate the currency market. On the other hand, holding reserves does induce opportunity cost. The "quasi-fiscal costs" of holding reserves are the gap between the low-yield assets that returns managers typically hold, and the average cost of government debt in the country. In addition, many governments have suffered huge losses on the management of the reserves portfolio - all of which is ultimately fiscal. When there is a currency crisis and all reserves vanish, this is ultimately a fiscal cost. Even when there is no currency crisis, there can be a fiscal cost, as is taking place in 2005 and 2006 with China, which holds huge USD assets but the has been continually appreciating.

Excess Reserves
Foreign exchange reserves are important indicators of ability to repay foreign debt and for currency defense, and are used to determine credit ratings of nations, however, other government funds that are counted as liquid assets that can be applied to liabilities in times of crisis include .

Levels

Reserves of foreign exchange and gold in 2006

Monetary Authorities with the largest foreign reserves in 2007.
Rank
Country/Monetary Authority
billion USD (end of month)

$117 (August)
Note:China updates its information quarterly.
Russia updates its information weekly and monthly.
India updates its information weekly.
Brazil updates its information Daily.
These few holders account for more than 50% of total world foreign currency reserves. The adequacy of the foreign exchange reserves is more often expressed not as an absolute level, but as a percentage of short-term foreign debt, money supply, or average monthly imports.

Balance of trade

2007-10-10T20:51:00.000-07:00

Balance of trade

The balance of trade encompasses the activity of exports and imports, like the work of this cargo ship going through the
The balance of trade (or net exports, sometimes symbolized as NX) is the difference between the monetary value of in an economy over a certain period of time. A positive balance of trade is known as a trade surplus and consists of exporting more than is imported; a negative balance of trade is known as a trade deficit or, informally, a trade gap. The balance of trade is sometimes divided into a goods and a services balance; especially in the

Definition
The balance of trade forms part of the , which also includes other transactions such as income from the as well as international aid. If the is in surplus, the country's net international asset position increases correspondingly. Equally, a deficit decreases the net international asset position.
The trade balance is identical to the difference between a country's output and its domestic demand (the difference between what goods a country produces and how many goods it buys from abroad; this does not include money re-spent on foreign stocks, nor does it factor the concept of importing goods to produce for the domestic market).
Measuring the balance of payments can be problematic because of problems with recording and collecting data. As an illustration of this problem, when official data for all the world's countries are added up, exports exceed imports by a few percent; it appears the world is running a positive balance of trade with itself. This cannot be true, because all transactions involve an equal in the account of each nation. The discrepancy is widely believed to be explained by transactions intended to launder money or evade taxes, smuggling and other visibility problems. However, especially for developed countries, accuracy is likely to be good.
Factors that can affect the balance of trade figures include:
Prices of goods manufactured at home (influenced by the responsiveness of supply)

Business cycle at home or abroad.
The balance of trade is likely to differ across the business cycle. In export led growth (such as oil and early industrial goods), the balance of trade will improve during an economic expansion. However, with domestic demand led growth (as in the United States and Australia) the trade balance will worsen at the same stage in the business cycle.

Economic impact
Modern economists are split on the economic impact of the trade deficit with some viewing it as a loss in a fixed volume of trade and more radical Neoliberal voices who claim it is a sign of economic strength.
The traditional view opposes long run trade deficits and for the sake of labor arbitrage to obtain cheap labor as an example of which does not produce mutual gain, and not an example of
Neoliberal economists claim that trade deficits are beneficial, noting the correlation between increasing trade deficits and increasing GDP and employment ( An expanding economy means increased demand for domestic and foreign products. This rising demand promotes domestic investment as both foreign and domestic businesses seek to capitalize on the growth in demand. As the rate of growth accelerates foreign credit sources have greater incentives to invest in a growing nation's capital. The greater net inflows from abroad, the greater the trade deficit. Thus, GDP growth can be correlated with a trade deficit. However, these economists seem to ignore the fact that excessive borrowing may artificially inflate GDP.
Strong GDP growth economies such as the United Kingdom, Australia, Hong Kong and the United States run consistent trade deficits.
On the other hand, GDP growth may be due to excess borrowing to fund consumption and not an expansion of the base of an economy. Developed nations such as Canada, Japan, and typically run trade surpluses. China also has a trade surplus. A higher savings rate generally corresponds with a trade surplus. In 2006, the United States has its lowest savings rate since 1933. Correspondingly, the United States has high trade deficits. The general decline of Great Britain is another example of the deleterious effects of long term trade deficits.
Some contend long term effects of the trade deficits are deleterious. Since the of the 1970's, the U.S. economy has been characterized by somewhat slower growth. In 1985, the U.S. began its growing trade deficit with China. In 2006, the primary economic concerns have centered around: high national debt ($9 trillion), high corporate debt ($9 trillion), high mortgage debt ($9 trillion), high unfunded Medicare liability ($30 trillion), high unfunded Social Security liability ($12 trillion), high (amount owed to foreign lenders) and a serious deterioration in the United States (NIIP) (-24% of GDP), high , and a rise in . These issues have raised concerns among and unfunded liabilites were mentioned as a serious problem facing the United States in the President's
Large imbalances may sometimes be a sign of underlying economic problems or rigidities. An example would be a situation where exchange rates have been fixed or pegged for political reasons at levels impeding a correction of a trade imbalance.
The trade deficit must be "financed" by foreign income or transfers, or by a capital account surplus. This includes inward foreign investment and capital purchases (stocks, bonds ect). An increase in net foreign liabilities tends to lead to an increase in the net outflow of income on international investments.
Those in favor of the trade deficit point to this financing as the source of the benefit. Instead of buying goods back, buyers in the receiving country send the money back in the form of capital. A firm in America sends dollars for Chinese toys, and the Chinese receivers use the money to buy stock in an American firm. Although this is a form of financing, it is not a debt on any party in America.
Such payments to foreigners have intergenerational effects: by shifting consumption over time, some generations may gain at the expense of others ). However, a trade deficit may lead to higher consumption in the future if, for example, it is used to finance profitable domestic , which generates returns in excess of that paid on the net foreign liabilities (a situation that might arise if a country experiences an unexpected gain in productivity). Similarly, a surplus on the implies an increase in the net international investment position and the shifting of consumption to future rather than current generations.
However, trade imbalances are not always indicative of the smooth operation of the market given differences in international productivity and intertemporal consumption preferences. Trade deficits have often been associated with a loss of international competitiveness, or unsustainable 'booms' in domestic demand. Similarly, trade surpluses have been associated with policies that inefficiently bias a country's economic activity towards external demand, resulting in lower living standards. An example of an economy which has had a positive balance of payments was Japan in the 1990s. The positive balance was partly the result of protectionist measures that brought excessive profits to Japanese exporters.

United States trade deficit
The United States has posted a, and it has been rapidly increasing since 1997 (see chart below). The US trade deficit hit a record high of 763.6 billion dollars in 2006, up from 716.7 billion dollars in 2005
It is worth noting on the graph that the deficit slackened during recessions and grew during periods of expansion. Also of note, many economists calculate trade deficits and/or current account deficits as a percentage of GDP. The U.S. last had a trade surplus in 1991, a recession year.

Milton Friedman on trade deficits

US exports in 2006
he country as the currency always comes back to the country of origin in some form or another (country A sells to country B, country B sells to country C who buys from country A, but the trade deficit only includes A and B). In fact, in his view, the "worst case scenario" of the currency never returning to the country of origin was actually the best possible outcome: the country actually purchased its goods by exchanging them for pieces of cheaply-made paper. As Friedman put it, this would be the same result as if the exporting country burned the dollars it earned, never returning it to market circulation.
Critics claim that Friedman's argument is equivalent to saying that it doesn't matter if you get indebted, because eventually you will have to pay the money back. The obvious counterargument is that once a significant debt has been accumulated, paying it back may be painful. Friedman's supporters retort that when the money returns, the demand for foreign currency will make the exchange rate better for trade deficit country.
Friedman's view is seen by many as ignoring the intergenerational or long run consequences of deficits, low savings, and borrowing to fund consumption. If country A has a trade deficit because of large imports of consumer goods, other countries accumulate cash from country A. That money can be used to purchase existing investment assets and government bonds within country A. As a result, the return from those assets will accrue not to citizens of country A but to foreigners. The consumption standard of future generations in country A may therefore potentially decline as a result of the deficit. In particular, Americans are increasingly paying taxes to finance the interest on federal bonds held by foreigners. However, a criticism of this argument notes that all transactions are . In the case of foreign investment in American assets, it helps fuel American economic growth and keeps US interest rates low. This argument is more appealing in the case of foreign direct investment, and less obvious when foreigners simply purchase the existing stock of assets.
Friedman also believed that deficits would be corrected by free markets as floating currency rates rise or fall with time to encourage or discourage imports in favor of the exports, reversing again in favor of imports as the currency gains strength. A potential difficulty however is that currency markets in the real world are far from completely free, with government and central banks being major players, and this is unlikely to change within the foreseeable future. Nevertheless, recent developments have shown that the global economy in undergoing a fundamental shift. For many years the U.S. has borrowed and bought while in general, the rest of the world has lent and sold. However, as Friedman predicted, this paradigm appears to be changing.
As of September 2007, the U.S. dollar has grown weaker against the euro, British pound, and many other currencies. For instance, the euro hit $1.39 in September 2007, the strongest it has been since its birth in 1999. Against this backdrop, American exporters are finding quite favorable overseas markets for their products and U.S. consumers are responding to their general housing slowdown by slowing their spendthrift habits. Furthermore, China, the Middle East, central Europe and Africa are absorbing more of the world's imports which in the end may result in a world economy that is more evenly balanced. All of this could well add up to a major readjustment of the U.S. trade deficit, which as a percentage of GDP, began in 1991
Friedman and other economists have also pointed out that a large trade deficit (importation of goods) signals that the country's currency is strong and desirable. To Friedman, a trade deficit simply meant that consumers had opportunity to purchase and enjoy more goods at lower prices; conversely, a trade surplus implied that a country was exporting goods its own citizens did not get to consume or enjoy, while paying high prices for the goods they actually received.
Perhaps most significantly, Friedman contended strongly that the current structure of the balance of payments is misleading. In an interview with Charlie Rose, he stated that "on the books" the US is a net borrower of funds, using those funds to pay for goods and services. He pointed to the income receipts and payments showing that the US pays almost the same amount as it receives: thus, U.S. citizens are paying lower prices than foreigners for capital assets to exchange roughly the same amount of income. The reasons why the U.S. (and UK) appear to earn a higher rate of return on their foreign assets than they pay on their foreign liabilities are not clearly understood. An important contributing factor is that the U.S. has investment primarily in stocks abroad, while foreigners have invested heavily in debt instruments, such as U.S. government bonds

Physical balance of trade
Monetary balance of trade is different from physical balance of trade (which is expressed in amount of raw materials). Developed countries usually import a lot of primary raw materials from developing countries at low prices. Often, these materials are then converted into finished products, and a significant amount of value is added. Although for instance the EU (as well as many other developed countries) has a balanced monetary balance of trade, its physical trade balance (especially with developing countries) is negative, meaning that in terms of materials a lot more is imported than exported. This is part of an economic theory

Forex Trader's Bill of Rights

2007-10-10T20:50:00.000-07:00

The Forex Trader’s Bill of Rights (2005) is a non-fiction book about the foreign currency trading market, published by OANDA_Corporation. It is primarily a call to arms for currency traders to call for greater transparency and accountability within the market. The overleaf provided with the printed version of the book states: “Big banks and confederated brokerages have overcomplicated forex: trading costs are inflated, unnecessary risk abounds, and the system is grossly unfair.” Essentially, the book elaborates on this premise, detailing ways in which traders are being unfairly treated and encouraging them to take action.
OANDA is a company that provides currency trading tools for investors, travelers, and businesses. As such, there is an unavoidable marketing aspect to this publication. However, OANDA is not mentioned throughout the book. There has been a clear effort to maintain a relatively neutral point of view. The back cover does state “OANDA is a leading provider of online currency trading…FXTrade…enables all currency investors to change the way forex trading is done”.
The authors believe currency investors have 10 basic rights which are being violated: each short chapter deals with one of these rights. They are:1. The right to immediate, uncensored access to the marketplace2. The right to trade real spot3. The right to know4. The right to trade whenever you want5. The right to equal treatment6. The right to choose and manage risk7. The right to understand cost8. The right to learn – on your own, or through free exchange with other traders9. The right to full disclosure10. The right to pay and receive interest
1) The right to immediate, uncensored access to the marketplace Chapter one argues that when trading traditionally (with banks etc.,) execution and price are affected by who you are (size of your order/ relationship with your market maker etc.), the amount of greed on the part of the market maker, and manual intervention which can delay the trade. The chapter calls for transparency, fairness, and efficiency for traders from market makers.
2) The right to trade real spotChapter two addresses unnecessary delays in settlement of trades, which according to the authors increase risk for investors.
3) The right to knowThe third chapter states that market makers share information based on who you are: in some cases they share information that should not be shared; in other cases they do not share information that should be publicly available. This leads to an unfair advantage.
4) The right to trade whenever you wantThe chapter asserts that market makers may advertise 24 hour trading but they close the books on Friday. However, world events which affect currency price occur on weekends. The argument continues that since the technology for 24/7 trading is available, it should be offered by all market makers.
5) The right to equal treatmentChapter five argues that every trader should be given the same price and spread, and that market makers should not discriminate between traders.
6) The right to choose and manage riskTraders are encouraged to use a market maker who does not require high minimums, lets them trade any amount, and provides immediate settlement as a way of minimizing risk.
7) The right to understand costIt is reasoned that traders have the right to understand spreads, as well as who gets a “cut” and why. This chapter also includes a profitability calculator.
8) The right to learn – on your own, or through free exchange with other tradersThis chapter covers multiple ways to learn about trading, and test new strategies, including trading games offered by online market makers and other sources of Internet information.
9) The right to full disclosureThe book claims that a lack of transparency in pricing, execution, and after the trade needs to addressed. Market makers should publish statistics regarding real spreads and prices and traders should demand that they do this.
10) The right to pay and receive interestIt is argued that continuous interest should be introduced, which would make for price flows that are less volatile

Oanda.com also offered free currency conversion tools, tables of historical data, and news and analysis through a multilingual interface, as well as non-financial conversion tables likely to be of use to international travellers, estimated a stable base of more than four million users for Oanda.com in June of 2000, and at that time the company reported that its technology had been licensed to more than 13,000 online merchants. Oanda.com was able to claim a minimum of ten million per month by March of 2001.

retail forex

2007-10-10T20:48:00.000-07:00

Retail trading is more structured than the forex market as a whole. While forex has been traded since the beginning of , modern retail trading has only been around since about 1996 . Prior to this time, retail investors were limited in their options for entering the forex market. They could create multiple bank accounts, each one denominated in a different currency, and transfer funds from one account to another in order to profit from fluctuating exchange rate. This was troublesome, however, because the transaction costs incurred were large due to the small quantity of funds being converted relative to the size of the market. This transaction type was at the very bottom of the forex pyramid.
By 1996, new market makers took advantage of developments in web-based technology that made retail forex trading practical. These internet-based market makers would take the other side of retail trader’s trades. The new companies felt that there was enough liquidity in the forex market, and eventually within their own customer base, to guarantee markets under all but the most unusual market conditions. These companies also created online trading platforms that provided a quick and easy way for individuals to buy and sell on the Forex Spot market. In addition, the companies realized that by pooling many retail traders together, they had the size to enter the upper echelons of the forex market, which reduced the size of the spread. As the business grew, the market makers were given better prices, which they then passed on to the customer.
Market makers got around this issue by allowing customers to inflate all movements many times over. In the world of online currency exchange, no transaction actually leads to physical delivery to the client; all positions will eventually be closed. The market makers are therefore able to offer high amounts of . While up to 4:1 leverage is available in equities and 20:1 in Futures, it is common to have 100:1 leverage in currencies; some forex market makers offer up to 400:1. In the typical 100:1 scenario, the client absorbs all risks associated with controlling a position 100 times the capital they are putting up, and, given that the money is only being used for currency exchange and on the market makers’ books, the transaction can proceed.
Current spreads for the most common EUR/USD, is typically 3 pips (3/100th of a percent). An equivalent trade using a bank account would most likely be between 200 and 500 pips, while an equivalent trade using cash at an exchange institution would be around 750 – 2500 pips.
Currencies are quoted in pairs i.e. EUR/USD (Euro vs. United States Dollar). Out of convention, the currency quoted first was the stronger currency at the time of inception.
Top 6 Most Traded Currencies
Key Concepts Behind A Retail Forex Trade

Retail Forex Trading
As previously mentioned, currencies fluctuate relative to other currencies. Take two of the most common currency pairs, the EUR/USD (the price for Euros in US dollars) and the GBP/USD (the price for The Great British Pound in US dollars). If there is positive economic news in the Euro zone and negative economic news in the United Kingdom, it is very conceivable that the EUR/USD would go up in value, meaning it is now more expensive in US dollars to purchase one EUR, and that the GBP/USD would go down in value, meaning it is now cheaper to buy Great British Pounds with US dollars. In this scenario, the US dollar went up in value against one currency and down in relation to another. It is important to understand this idea that currency pairs move mostly independently from one another. Currency pairs with similar currencies on one side (like the USD in the previous example) can be similarly affected by news regarding the common currency, but the crucial concept is that they don’t have to be.

Retail Forex is usually highly leveraged
The idea of margin (leverage) and floating loss is another important trading concept and is perhaps best understood using an example. Most retail Forex market makers permit 100:1 leverage, but also, crucially, require you to have a certain amount of money in your account to protect against a critical loss point. For example, if a $100,000 position is held in Eur/USD on 100:1 leverage, the trader has to put up $1,000 to control the position. However, in the event of a declining value of your positions, Forex market makers, mindful of the fast nature of Forex price swings and the amplifying effect of leverage, typically do not allow their traders to go negative and make up the difference at a later date. In order to make sure the trader does not lose more money than is held in the account, Forex typically employ to close out positions when clients run out of margin (the amount of money in their account not tied to a position). If the trader has $2,000 in his account, and he is buying a $100,000 lot of EUR/USD, he has $1,000 of his $2,000 tied up in margin, with $1,000 left to allow his position to fluctuate downward without being closed out.
Typically a trader's trading platform will show him three important numbers associated with his account: his balance, his equity, and his margin remaining. If trader X has two positions: $100,000 long (buy) in EUR/USD, and $100,000 short (sell) in GBP/USD, and he has $10,000 in his account, his positions would look as follows: Because of the 100:1 leverage, it took him $1,000 to control each position. This means that he has used up $2,000 in his margin, out of a $10,000 account, and thus he has $8,000 of margin still available. With this margin, he can either take more positions or keep the margin relatively high to allow his current positions to be maintained in the event of downturns. If the client chooses to open a new position of $100,000, this will again take another $1,000 of his margin, leaving $7,000. He will have used up $3,000 in among the three positions. The other way margin will decrease is if the positions he currently has open lose money. If his 3 positions of $100,000 decrease by $5,000 in value (not at all an unusual swing), he now has, of his original $7,000 in margin, only $2,000 left. As discussed above, if you have a $10,000 account and only open one $100,000 position, this has committed only $1,000 of your money plus you must maintain $1,000 in margin. While this leaves $9,000 free in your account, it is possible to lose almost all of it if the position dives. On the other hand, if you have 5 positions open in a $10,000 account, you can lose only $5,000 because the other $5,000 is held in margin. However, this does not make it safer to hold more positions. The Forex market fluctuates so rapidly, that with shallow margins, you are much more likely to be closed out of your position and lose it entirely when it might have recovered from a temporary fluctuation if you had had sufficient margin to cover the variation. The more positions open at one time, the more risk the trader is exposed to.

Transaction costs and market makers
Market makers are well compensated for allowing retail clients to enter the Forex market. They take part or all of the spread in all currency pairs traded. In a common example, EUR/USD, the spread is typically 3 pips (3/100 of a percent). Thus prices are quoted with both a Buy and Sell price (e.g., Buy Eur/USD 1.2000, Sell Eur/USD 1.2003). That difference of 3 pips is the spread and can amount to a significant amount of money. (Note: the spread is only taken out at the beginning of the trade; this transaction cost is subtracted only upon entering the trade, not leaving it) Because the typical standard lot is 100,000 units of the base currency, those 3 pips on EUR/USD translate to $30 paid by the client to the market maker. However, a pip is not always $10. A pip is 1/100th of a percent, and the currency pairs are always purchased by buying 100,000 of the base currency, which is also known as the counter currency. For the pair EUR/USD, the base currency is USD; thus, 1/100th of a percent on a pair with USD as the base currency will always have a pip of $10. If, on the other hand, your currency has Swiss Frank (CHF) as a base instead of USD, then 1/100th of a percent is now worth around $8, because you are buying 100,000 worth of Swiss Franks.
If a trader with a $10,000 account on 100:1 leverage felt, after reading reports on the economy, that the USD was going to go up in value against the EUR and the CHF, he would Sell EUR/USD (thus selling EUR and buying USD) and Buy USD/CHF (buying USD and selling CHF). The transaction is all electronic, so the trader doesn’t need to have Euros in his account. On a large scale, the market maker can sell Euros on behalf of the trader, knowing that the position will eventually be closed and converted back to USD. Assume that the client sold 100,000 EUR/USD at 1.2000 and bought 100,000 USD/CHF at 1.2500. Seconds after this transaction, his account would read: Balance: $10,000, Equity $9,946. The loss of $54 is due to the transaction cost taken only at the entry of a position of 3 pips, which translates to $30 for the EUR/USD pair and $24 for the USD/CHF pair. With equity of $9,946 on 100:1 with 2 positions opened, $2,000 is now held in margin, leaving the trader $7,946 in usable margin. Suppose the EUR/USD (sold at 1.2003) starts to move against the trader and goes up in value to 1.2013, while the USD/CHF (bought at 1.2500) starts moving for the client and also goes up in value to 1.2515. His account information will have changed but his balance and margin will remain unchanged at $10,000 and $2,000 respectively. His equity and his usable margin, however, will change to the new market conditions. While for the trader, the platform will this all automatically, it is important to see it step by step.
Beginning SummaryClient Account: XXXBalance $10,000Equity: $ 10,000Usable Margin: $10,000Used Margin: $0
Step 1: Client XXX places two trades.Sells 1 standard lot EUR/USD (100,000 worth of the base currency -- USD)Buys 1 standard lot of USD/CHF (100,000 worth of the base currency – CHF)
Balance remains: $10,000Equity: $9,946 (roughly, due to transaction costs of 3 pips each. $30 – EUR/USD transaction cost $24 USD/CHF transaction cost---the difference is due to difference in pip value)Usable Margin: $7,946Used Margin $2,000
Step 2: Market Conditions Change, with EUR/USD going up 10 pips (a 10 pip decrease in value to the client, since he is short EUR/USD), while the USD/CHF has increased in value by 15 pips.
EUR/USD pair has lost 10 pips, with each pip $10 so it has lost $100USD/CHF has gained 15 pips, with each pip around $8 so it gained $120The difference is now +$20
Balance: $10,000Equity: $9,966Usable Margin: $7966Used Margin: $2000
Step 3: Client closes both positions (by performing the opposite trade – Buying EUR/USD and Selling USD/CHF). He now has no positions in the market, and his money is no longer fluctuating with the market.
Balance: $9,966Equity: $9,966Usable Margin: $9,966Used Margin: $0

Financial Instruments
There are several types of financial instruments commonly used.
: One way to deal with the Forex risk is to engage in a forward transaction. In this transaction, money does not actually change hands until some agreed upon future date. A buyer and seller agree on an exchange rate for any date in the future, and the transaction occurs on that date, regardless of what the market rates are then. The duration of the trade can be a few days, months or years.
: Foreign currency futures are forward transactions with standard contract sizes and maturity dates — for example, 500,000 British pounds for next November at an agreed rate. Futures are standardized and are usually traded on an exchange created for this purpose. The average contract length is roughly 3 months. Futures contracts are usually inclusive of any interest amounts.
The Difference between Spot and Futures in Forex
Before a description of retail trading, it is important to understand the difference between the Spot and Futures markets. Futures are generally based on contracts, with typical durations of 3 months. Spot, on the other hand, is a two-day cash delivery. While the Futures markets was created to hedge out risks and speculate on future market conditions, Spot was created to allow actual cash deliveries. Spot developed a two-day delivery date in order to give those transporting the actual cash a window of time to receive it. While in theory there still is a two-day delivery date imposed after a Forex transaction, this is effectively no longer used. Every day, at 5 pm EST (the predetermined end of the trading day) Spot positions are closed and then reopened. This is done in order to guarantee an unlimited timeline for delivery. For example, if a Spot transaction occurs on a Monday, the delivery date is Wednesday. At 5 pm on Monday, the position is closed and then immediately re-opened; now this is a new position with the close date of Thursday. This daily process allows an investor to hold open a position indefinitely.
Another important difference between Futures and Spot is how interest is credited. Each currency in a Forex transaction has an inherent interest rate attached to it. In the case of the US dollar, this is the Federal Funds Rate. This interest is added every single day whether the market is trading or not. Interest cannot take a vacation; money and its loaning value are still important even if the financial world has stopped dealingThis is important for later discussions and analysis because the transactions examined in this study had interest credited at the end of the business day at exactly 5 pm EST. If a position was held from 5:01 pm on Tuesday and closed at 4:59 pm on Wednesday, no interest would be credited for that day. If, on the other hand, a position was opened Tuesday at 4:59 pm and closed Tuesday 5:01 pm, a full day’s interest would be credited. This has interesting ramifications; traders who work intra-day, or “day traders,” often do not use interest for either gain or loss.

forex scam

2007-10-06T13:57:00.000-07:00

A forex scam is any trading scheme used to defraud individual traders by convincing them that they can expect to gain an unreasonably high profit by trading in the foreign exchange market, which would be a zero-sum game were it not for the fact that there are brokerage commissions, which technically make forex a "negative-sum" game.

These scams might include churning of customer accounts for the purpose of generating commissions, selling software that is supposed to guide the customer to large profits,[1] improperly managed "managed accounts",[2] false advertising,[3] Ponzi schemes and outright fraud.[4] It also refers to any retail forex broker who indicates that trading foreign exchange is a low risk, high profit investment.[5]

The U.S. Commodity Futures Trading Commission (CFTC), which loosely regulates the foreign exchange market in the United States, has noted an increase in the amount of unscrupulous activity in the non-bank foreign exchange industry.[6]

An official of the National Futures Association was quoted[7] as saying, "Retail forex trading has increased dramatically over the past few years. Unfortunately, the amount of forex fraud has also increased dramatically..." Between 2001 and 2006 the U.S. Commodity Futures Trading Commission has prosecuted more than 80 cases involving the defrauding of more than 23,000 customers who lost $300 million, mostly in managed accounts. CNN also quoted Godfried De Vidts, President of the Financial Markets Association, a European body, as saying, "Banks have a duty to protect their customers and they should make sure customers understand what they are doing. Now if people go online, on non-bank portals, how is this control being done?"

The highly technical nature of retail forex industry, the OTC nature of the market, and the loose regulation of the market, leaves retail speculators vulnerable. Defrauded traders and regulatory authorities, can find it very difficult to prove that market manipulation has occurred since there is no central currency market, but rather a number of more or less interconnected marketplaces provided by interbank market makers.Contents [hide]
1 CFTC warnings
2 Why retail speculators shouldn't be able to beat the market
3 The use of high leverage
4 References
5 See also

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CFTC warnings

The CFTC lists 9 warning signs for foreign exchange trading fraud:[5]
1. Stay away from opportunities that seem too good to be true
Always remember that there is no such thing as a "free lunch." Be especially cautious if you have acquired a large sum of cash recently and are looking for a safe investment vehicle. In particular, retirees with access to their retirement funds may be attractive targets for fraudulent operators. Getting your money back once it is gone can be difficult or impossible.
2. Avoid any company that predicts or guarantees large profits
Be extremely wary of companies that guarantee profits, or that tout extremely high performance. In many cases, those claims are false.
The following are examples of statements that either are or most likely are fraudulent:
"Whether the market moves up or down, in the currency market you will make a profit."
"Make $1000 per week, every week"
"We are out-performing domestic investments."
"The main advantage of the forex markets is that there is no bear market."
"We guarantee you will make at least a 30-40% rate of return within two months."
3. Stay Away From Companies That Promise Little or No Financial Risk
Be suspicious of companies that downplay risks or state that written risk disclosure statements are routine formalities imposed by the government.
The currency futures and options markets are volatile and contain substantial risks for unsophisticated customers. The currency futures and options markets are not the place to put any funds that you cannot afford to lose. For example, retirement funds should not be used for currency trading.

g. You can lose most or all of those funds very quickly trading foreign currency futures or options contracts. Therefore, beware of companies that make the following types of statements:
"With a $10,000 deposit, the maximum you can lose is $200 to $250 per day."
"We promise to recover any losses you have."
"Your investment is secure."
4. Don't Trade on Margin Unless You Understand What It Means
Margin trading can make you responsible for losses that greatly exceed the dollar amount you deposited.
Many currency traders ask customers to give them money, which they sometimes refer to as "margin," often sums in the range of $1,000 to $5,000. However, those amounts, which are relatively small in the currency markets, actually control far larger dollar amounts of trading, a fact that often is poorly explained to customers.
Don't trade on margin unless you fully understand what you are doing and are prepared to accept losses that exceed the margin amounts you paid.
5. Question Firms That Claim To Trade in the "Interbank Market"
Be wary of firms that claim that you can or should trade in the "interbank market," or that they will do so on your behalf.
Unregulated, fraudulent currency trading firms often tell retail customers that their funds are traded in the "interbank market," where good prices can be obtained. Firms that trade currencies in the interbank market, however, are most likely to be banks, investment banks and large corporations, since the term "interbank market" refers simply to a loose network of currency transactions negotiated between financial institutions and other large companies.
6. Be Wary of Sending or Transferring Cash on the Internet, By Mail or Otherwise
Be especially alert to the dangers of trading on-line; it is very easy to transfer funds on-line, but often can be impossible to get a refund.
It costs an Internet advertiser just pennies per day to reach a potential audience of millions of persons, and phony currency trading firms have seized upon the Internet as an inexpensive and effective way of reaching a large pool of potential customers.
Companies offering currency trading on-line will usually be located in different legal jurisdictions to you. Even if they display an address or any other information identifying their nationality on their Web site it may be false. Be aware that if you transfer funds to foreign firms it may be very difficult or impossible to recover your funds.
7. Currency Scams Often Target Members of Ethnic Minorities
Some currency trading scams target potential customers in ethnic communities, particularly persons in the Russian, Chinese and Indian immigrant communities, through advertisements in ethnic newspapers and television "infomercials."
Sometimes those advertisements offer so-called "job opportunities" for "account executives" to trade foreign currencies. Be aware that "account executives" that are hired might be expected to use their own money for currency trading, as well as to recruit their family and friends to do likewise. What appears to be a promising job opportunity often is another way many of these companies lure customers into parting with their cash.
8. Be Sure You Get the Company's Performance Track Record
Get as much information as possible about the firm's or individual's performance record on behalf of other clients. You should be aware, however, that It may be difficult or impossible to do so, or to verify the information you receive. While firms and individuals are not required to provide this information, you should be wary of any person who is not willing to do so or who provides you with incomplete information. However, keep in mind, even if you do receive a glossy brochure or sophisticated-looking charts, that the information they contain might be false.
9. Don't Deal With Anyone Who Won't Give You His Background
Plan to do a lot of checking of any information you receive to be sure that the company is and does exactly what it says.
Get the background of the persons running or promoting the company, if possible. Do not rely solely on oral statements or promises from the firm's employees. Ask for all information in written form.
If you cannot satisfy yourself that the persons with whom you are dealing are completely legitimate and above-board, the wisest course of action is to avoid trading foreign currencies through those companies.

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Why retail speculators shouldn't be able to beat the market

The foreign exchange market is a zero sum game in which there are many experienced well-capitalized professional traders (e.g. working for banks) who can devote their attentions full time to trading. An inexperienced retail trader will have a significant information disadvantage compared to these traders.

Retail traders are - almost by definition - undercapitalized. Thus they are subject to the problem of Gambler's Ruin. In a fair game (one with no information advantages) between two players that continues until one trader goes bankrupt, the player with the lower amount of capital has a higher probability of going bankrupt first. Since the retail speculator is effectively playing against the market as a whole - which has nearly infinite capital - he will almost certainly go bankrupt.

The retail trader always pays the bid/ask spread which makes his odds of winning less than those of a fair game. Additional costs may include margin interest, or if a spot position is kept open for more than one day the trade must be "resettled" each day, each time costing the full bid/ask spread.

According to the Wall Street Journal (Currency Markets Draw Speculation, Fraud July 26, 2005) "Even people running the trading shops warn clients against trying to time the market. 'If 15% of day traders are profitable,' says Drew Niv, chief executive of FXCM, 'I'd be surprised.' "

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The use of high leverage

By offering high leverage, the market maker encourages traders to trade extremely large positions. This increases the trading volume cleared by the market maker and increases his profits, but increases the risk that the trader will receive a margin call. While professional currency dealers (banks, hedge funds) never use more than 10:1 leverage, retail clients are generally offered leverage between 50:1 and 200:1, and even up to 400:1

Forex

2007-09-23T10:14:00.000-07:00

The foreign exchange (currency or forex or FX) market exists wherever one is traded for another. It is by far the largest financial market in the world, and includes trading between large banks, and institutions. The average daily trade in the global forex markets currently around 1.9 trillion . Retail traders (individuals) are a small fraction of this market and may only participate indirectly through banks.
Market size and liquidity
The foreign exchange market is unique because of
its trading volume,
the extreme of the market,
the large number of, and variety of, traders in the market,
its geographical dispersion,
its long trading hours: 24 hours a day (except on weekends),
the variety of factors that affect

According to the average daily turnover in traditional foreign exchange markets is estimated at $1,880 billion. Daily averages in April for different years, in billions of US dollars, are presented on the chart below:
This $1.88 trillion in global foreign exchange market "traditional" turnover was broken down as follows:
$621 billion in transactions
$208 billion in
$944 billion in
$107 billion estimated gaps in reporting
In addition to "traditional" turnover, $1.26 trillion was traded in
Exchange-traded forex were introduced in 1972 at the and are actively traded relative to most other futures contracts. Forex futures volume has grown rapidly in recent years, and accounts for about 7% of the total foreign exchange market volume, according to The (5/5/06, p. 20).
Average daily global turnover in traditional foreign exchange market transactions totaled $2.7 trillion in April 2006 according to IFSL estimates based on semi-annual London, New York, Tokyo and Singapore Foreign Exchange Committee data. Overall turnover, including non-traditional foreign exchange derivatives and products traded on exchanges, averaged around $2.9 trillion a day. This was more than ten times the size of the combined daily turnover on all the world’s equity markets. Foreign exchange trading increased by 38% between April 2005 and April 2006 and has more than doubled since 2001. This is largely due to the growing importance of foreign exchange as an asset class and an increase in fund management assets, particularly of hedge funds and pension funds. The diverse selection of execution venues such as internet trading platforms has also made it easier for retail traders to trade in the foreign exchange market.
Because foreign exchange is an market where brokers/dealers negotiate directly with one another, there is no central exchange or clearing house. The biggest geographic trading centre is the UK, primarily London, which according to IFSL estimates has increased its share of global turnover in traditional transactions from 31.3% in April 2004 to 32.4% in April 2006. RPP
The ten most active traders account for almost 73% of trading volume, according to The , (2/9/06 p. 20). These large international banks continually provide the market with both bid (buy) and ask (sell) prices. The is the difference between the price at which a bank or will sell ("ask", or "offer") and the price at which a market-maker will buy ("bid") from a wholesale customer. This spread is minimal for actively traded pairs of currencies, usually 0–3 . For example, the bid/ask quote of EUR/USD might be 1.2200/1.2203. Minimum trading size for most deals is usually $100,000.
These spreads might not apply to retail customers at banks, which will routinely mark up the difference to say 1.2100 / 1.2300 for transfers, or say 1.2000 / 1.2400 for banknotes or travelers' checks. Spot prices at market makers vary, but on EUR/USD are usually no more than 3 pips wide (i.e. 0.0003). Competition has greatly increased with pip spreads shrinking on the major pairs to as little as 1 to 2 pips.

Top 10 Currency Traders
% of overall volume, May 2006

Unlike a stock market, where all participants have access to the same prices, the forex market is divided into levels of access. At the top is the inter-bank market, which is made up of the largest investment banking firms. Within the inter-bank market, spreads, which are the difference between the bid and ask prices, are razor sharp and usually unavailable, and not known to players outside the inner circle. As you descend the levels of access, the difference between the bid and ask prices widens (from 0-1 pip to 1-2 pips only for major currencies like the Euro). This is due to volume. If a trader can guarantee large numbers of transactions for large amounts, they can demand a smaller difference between the bid and ask price, which is referred to as a better spread. The levels of access that make up the forex market are determined by the size of the “line” (the amount of money with which they are trading). The top-tier inter-bank market accounts for 53% of all transactions. After that there are usually smaller investment banks, followed by large multi-national corporations (which need to hedge risk and pay employees in different countries), large hedge funds, and even some of the retail forex market makers. According to Galati and Melvin, “Pension funds, insurance companies, mutual funds, and other institutional investors have played an increasingly important role in financial markets in general, and in FX markets in particular, since the early 2000s.” (2004) In addition, he notes, “Hedge funds have grown markedly over the 2001–2004 period in terms of both number and overall size” Central banks also participate in the forex market to align currencies to their economic needs.

[edit] Banks
The interbank market caters for both the majority of commercial turnover and large amounts of speculative trading every day. A large bank may trade billions of dollars daily. Some of this trading is undertaken on behalf of customers, but much is conducted by proprietary desks, trading for the bank's own account.
Until recently, foreign exchange brokers did large amounts of business, facilitating interbank trading and matching anonymous counterparts for small fees. Today, however, much of this business has moved on to more efficient electronic systems, and TradeBook(R). The broker squawk box lets traders listen in on ongoing interbank trading and is heard in most trading rooms, but turnover is noticeably smaller than just a few years ago.

Commercial companies
An important part of this market comes from the financial activities of companies seeking foreign exchange to pay for goods or services. Commercial companies often trade fairly small amounts compared to those of banks or speculators, and their trades often have little short term impact on market rates. Nevertheless, trade flows are an important factor in the long-term direction of a currency's exchange rate. Some multinational companies can have an unpredictable impact when very large positions are covered due to exposures that are not widely known by other market participants.

Central banks
National central banks play an important role in the foreign exchange markets. They try to control the money supply, inflation, and/or interest rates and often have official or unofficial target rates for their currencies. They can use their often substantial foreign exchange reserves to stabilize the market. argued that the best stabilization strategy would be for central banks to buy when the exchange rate is too low, and to sell when the rate is too high — that is, to trade for a profit based on their more precise information. Nevertheless, the effectiveness of central bank "stabilizing speculation" is doubtful because central banks do not go bankrupt if they make large losses, like other traders would, and there is no convincing evidence that they do make a profit trading.
The mere expectation or rumor of central bank might be enough to stabilize a currency, but aggressive intervention might be used several times each year in countries with a currency regime. Central banks do not always achieve their objectives, however. The combined resources of the market can easily overwhelm any central bank. Several scenarios of this nature were seen in the 1992–93 collapse, and in more recent times in Southeast Asia.

Investment management firms
Investment management firms (who typically manage large accounts on behalf of customers such as pension funds and endowments) use the foreign exchange market to facilitate transactions in foreign securities. For example, an investment manager with an international equity portfolio will need to buy and sell foreign currencies in the spot market in order to pay for purchases of foreign equities. Since the forex transactions are secondary to the actual investment decision, they are not seen as speculative or aimed at profit-maximization.
Some investment management firms also have more speculative specialist operations, which manage clients' currency exposures with the aim of generating profits as well as limiting risk. Whilst the number of this type of specialist firms is quite small, many have a large value of assets under management (AUM), and hence can generate large trades.

Hedge funds
Quantum fund have gained a reputation for aggressive currency speculation since 1990. They control billions of dollars of equity and may borrow billions more, and thus may overwhelm intervention by central banks to support almost any currency, if the economic fundamentals are in the hedge funds' favor.
Retail forex brokers
Trading characteristics
Most traded currencies Currency distribution of reported FX market turnover
Rank

There is no unified or centrally cleared market for the majority of FX trades, and there is very little cross-border regulation. Due to the over-the-counter (OTC) nature of currency markets, there are rather a number of interconnected marketplaces, where different currency instruments are traded. This implies that there is not a single dollar rate but rather a number of different rates (prices), depending on what bank or market maker is trading. In practice the rates are often very close, otherwise they could be exploited by arbitrageurs instantaneously. A joint venture of the Chicago Mercantile Exchange and Reuters, called FXMarketSpace opened in 2007 and aspires to the role of a central market clearing mechanism.
The main trading centers are in London, New York, Tokyo, and Singapore, but banks throughout the world participate. Currency trading happens continuously throughout the day; as the Asian trading session ends, the European session begins, followed by the US session and then back to the Asian session, excluding weekends.
There is little or no 'inside information' in the foreign exchange markets. Exchange rate fluctuations are usually caused by actual monetary flows as well as by expectations of changes in monetary flows caused by changes in GDP growth, inflation, interest rates, budget and trade deficits or surpluses, large cross-border M&A deals and other macroeconomic conditions. Major news is released publicly, often on scheduled dates, so many people have access to the same news at the same time. However, the large banks have an important advantage; they can see their customers' order flow.
Currencies are traded against one another. Each pair of currencies thus constitutes an individual product and is traditionally noted XXX/YYY, where YYY is the ISO 4217 international three-letter code of the currency into which the price of one unit of XXX is expressed. For instance, EUR/USD is the price of the euro expressed in US dollars, as in 1 euro = 1.3045 dollar. Out of convention, the first currency in the pair, the base currency, was the stronger currency at the creation of the pair. The second currency, counter currency, was the weaker currency at the creation of the pair.
The factors affecting XXX will affect both XXX/YYY and XXX/ZZZ. This causes positive currency correlation between XXX/YYY and XXX/ZZZ.
On the spot market, according to the BIS study, the most heavily traded products were:
EUR/USD: 28 %
USD/JPY: 18 %
GBP/USD (also called sterling or cable (foreign exchange)): 14 %
and the US currency was involved in 88.7% of transactions, followed by the euro (37.2%), the yen (20.3%), and the sterling (16.9%) (see table). Note that volume percentages should add up to 200%: 100% for all the sellers and 100% for all the buyers.
Although trading in the euro has grown considerably since the currency's creation in January 1999, the foreign exchange market is thus far still largely dollar-centered. For instance, trading the euro versus a non-European currency ZZZ will usually involve two trades: EUR/USD and USD/ZZZ. The exception to this is EUR/JPY, which is an established traded currency pair in the interbank spot market.

[edit] Factors affecting currency trading
See also: Exchange rates
Although exchange rates are affected by many factors, in the end, currency prices are a result of supply and demand forces. The world's currency markets can be viewed as a huge melting pot: in a large and ever-changing mix of current events, supply and demand factors are constantly shifting, and the price of one currency in relation to another shifts accordingly. No other market encompasses (and distills) as much of what is going on in the world at any given time as foreign exchange.
Supply and demand for any given currency, and thus its value, are not influenced by any single element, but rather by several. These elements generally fall into three categories: and positively to narrowing budget deficits. The impact is reflected in the value of a country's currency.
Balance of trade levels and trends: The trade flow between countries illustrates the demand for goods and services, which in turn indicates demand for a country's currency to conduct trade. Surpluses and deficits in trade of goods and services reflect the competitiveness of a nation's economy. For example, Generally, the more healthy and robust a country's economy, the better its currency will perform, and the more demand for it there will be.

Political conditions
Internal, regional, and international conditions and events can have a profound effect on currency markets.
For instance, political upheaval and instability can have a negative impact on a nation's economy. The rise of a political faction that is perceived to be fiscally responsible can have the opposite effect. Also, events in one country in a region may spur positive or negative interest in a neighboring country and, in the process, affect its currency.

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"Buy the rumor, sell the fact:" This market truism can apply to many currency situations. It is the tendency for the price of a currency to reflect the impact of a particular action before it occurs and, when the anticipated event comes to pass, react in exactly the opposite direction. This may also be referred to as a market being "oversold" or "overbought".

Futures: Foreign currency futures are forward transactions with standard contract sizes and maturity dates — for example, 500,000 British pounds for next November at an agreed rate. Futures are standardized and are usually traded on an exchange created for this purpose. The average contract length is roughly 3 months. Futures contracts are usually inclusive of any interest amounts.