Monday, March 31, 2008

Free Forex Signals 31-03-2008

If you are relatively new to this blog, you might want to read these first:

Below is previous (28-03-2008)Trade and it's result
GBP/USD
Stop/Limit/Market Order

sell @2.0076
Result : + 20 pip profits

Today (31-03-2008) Forex Signals
Best time to place this order: 8.00 (GMT+3) or 5.00 GMT

GBP/USD
Stop/Limit/Market Order

sell @ 1.9951

Stop Loss @ -30pip
Set Profit Target @ 20 pip

Daily Pivot: 1.9971
To make an adjustment, please read this:

Friday, March 28, 2008

Free Forex Signals 28-03-2008

If you are relatively new to this blog, you might want to read these first:

Below is previous (27-03-2008)Trade and it's result
GBP/USD
Stop/Limit/Market Order

buy @2.0060
Result : + 20 pip profits

Today (28-03-2008) Forex Signals
Best time to place this order: 8.00 (GMT+3) or 5.00 GMT

GBP/USD
Stop/Limit/Market Order

sell @ 2.0076

Stop Loss @ -30pip
Set Profit Target @ 20 pip

Daily Pivot: 2.0096
To make an adjustment, please read this:

Thursday, March 27, 2008

Free Forex Signals 27-03-2008

If you are relatively new to this blog, you might want to read these first:

Below is previous (26-03-2008)Trade and it's result
GBP/USD
Stop/Limit/Market Order

buy @2.0031
Result : + 20 pip profits

Today (27-03-2008) Forex Signals
Best time to place this order: 8.00 (GMT+3) or 5.00 GMT

GBP/USD
Stop/Limit/Market Order

buy @ 2.0060

Stop Loss @ -30pip
Set Profit Target @ 20 pip

Daily Pivot: 2.0040
To make an adjustment, please read this:

Wednesday, March 26, 2008

Free Forex Signals 26-03-2008

If you are relatively new to this blog, you might want to read these first:

Below is previous (26-03-2008)Trade and it's result
GBP/USD
Stop/Limit/Market Order

buy @1.9850
Result : No Trade

Today (25-03-2008) Forex Signals
Best time to place this order: 8.00 (GMT+3) or 5.00 GMT

GBP/USD
Stop/Limit/Market Order

buy @ 2.0031

Stop Loss @ -30pip
Set Profit Target @ 20 pip

Daily Pivot: 1.9991
To make an adjustment, please read this:

Tuesday, March 25, 2008

Free Forex Signals 25-03-2008

If you are relatively new to this blog, you might want to read these first:

Below is previous (20-03-2008)Trade and it's result
GBP/USD
Stop/Limit/Market Order

sell @1.9892
Result : No Trade

Today (25-03-2008) Forex Signals
Best time to place this order: 8.00 (GMT+3) or 5.00 GMT

GBP/USD
Stop/Limit/Market Order

buy @1.9850

Stop Loss @ -30pip
Set Profit Target @ 20 pip

Daily Pivot: 1.9830
To make an adjustment, please read this:

Monday, March 24, 2008

Does Your Forex Broker Monitor Your Trades?

The question probably has ever come into your mind. If you ever wonder about it, the article below is quite interesting. I don't say that I trust what it say, but it is worth to read.
---------

Do you have any idea as to how much your Forex Broker knows about you and your trading habits? Your Broker will know a lot more about you and your trading habits than you may realize, especially if they run their own Dealing Desk rather than routing your order straight through to the Inter-bank. A Dealing Desk will be looking to match your Order with another client that is trading the same Pair, but in the opposite direction. That way the trade stays in-house, no Inter-bank commission is paid and your Order never leaves the Broker's door.

At a base level your Broker will not be reviewing each and every trade that comes through the door, but they will be monitoring their internal order flows to ensure that they are in-line with both the Interbank prices, and the next tier down, at the EBS (or Level II). The decision to route Orders to the market, or not, is Automated and mainly dependent on volume levels, but your pattern of trade will also add to that decision as your account balance grows.

There is nothing untoward about this business model, it is nothing new, after all it is what Dealing Desks are there for; they are replicating the Interbank and Level II for their internal uses, and by collating this kind of data are able to generate internal liquidity. So long as your fills are reliable it makes no difference where the Order goes, but knowing what is happening at the Broker's Desk may also help in understanding what actually happens on the occasions when your Order does not get filled.

Pattern of Trade. You create a pattern of trade each day that is easy to follow, and with the help of technology is something that is simple to track and report. If for example you regularly trade the same currency, you use the same Lot size, and you tend to hold the trades for set periods of time, your new Order can be reliably swapped with another that is going the opposite way. Once you have an account balance at a set level, and a set pattern of trade that can be followed, your Orders will not often leave your Broker's doors if they have an active Desk. Your trading footprint can be easily followed and monitored, and there are positives in what your Broker can do with data for you as well in providing liquidity.

Trading Bio. A trading Bio of your habits, your Trends, your Stop areas, your Take Profits, and even the length of time that you are in a trade is a great tool for a Broker to leverage in being able to set the criteria in deciding whether Orders go to the Market or not. If a Broker needs liquidity in a certain Pair, that may tip their hand in that decision as well. Technology and Automation are revealing more about each trader than most would realize, as the Broker works to get you filled at the prices that you see.

Slippage and Spikes. There is nothing underhand with a 'Broker Big Brother' (BBB), and nothing to worry about so long as your Broker does not have 'unusual' looking price spikes, holds off order fills , or creates slippage on a regular basis. Spikes, slippage and failed Orders are a reflection of one thing in general; the fact that there are no Interbank Orders on both sides of the quoted prices, there is no conspiracy in the Interbank to manipulate prices, it is just a time and a price point that for whatever reason does not contain Orders. Spikes will occur until a price point is reached that houses Orders, it is the natural flow of the Market.

If your Broker runs a Dealing Desk they will replicate the Interbank, and your trading habits will then form your Broker's Level II, or EBS, data. So as your account balance grows it may be something to be aware of when placing your trades; maybe by splitting your main account into a number of smaller accounts, and if you do not pay a commission per trade maybe look to split one big Order up into a series of smaller Tickets. That way a lack of liquidity will not impact your Order as much.

Big Brother? No doubt about that all. A Problem? Not really, not as long as we understand the natural flow of the Markets, but it is something that we need to be aware of, especially when placing larger trades.

by: TheLFB Team

via forex factory


Thursday, March 20, 2008

Gamblers Euro/ Usd Trading Systems

Nah, this is a forex trading system which employ no forex indicators, looks pretty neat actually. The original author (Gambler) said that he has tested the system on EUR/USD 15 minute charts and it worked well. Here is the forex trading systems rules that he has used for the past few weeks.


Open buy order when a candle close above the last down bar in a downtrend
Open sell order when a candle close below the last up bar in an uptrend
Take profit when you have earned a few pips or when you get a signal to make an order in the opposite direction.

If the market is moving much up and down Gambler recommend that you use a 5 minute chart instead.

via forex factory

Free Forex Signals 20-03-2008

If you are relatively new to this blog, you might want to read these first:

Below is previous (19-03-2008)Trade and it's result
GBP/USD
Stop/Limit/Market Order

sell @2.0077
Result : -30 pip loss

Today (20-03-2008) Forex Signals
Best time to place this order: 8.00 (GMT+3) or 5.00 GMT

GBP/USD
Stop/Limit/Market Order

sell @1.9892

Stop Loss @ -30pip
Set Profit Target @ 20 pip

Daily Pivot: 1.9932
To make an adjustment, please read this:

Wednesday, March 19, 2008

Free Forex Signals 19-03-2008

If you are relatively new to this blog, you might want to read these first:

Below is previous (18-03-2008)Trade and it's result
GBP/USD
Stop/Limit/Market Order

sell @2.0014
Result : -30 pip loss

Today (19-03-2008) Forex Signals
Best time to place this order: 8.00 (GMT+3) or 5.00 GMT

GBP/USD
Stop/Limit/Market Order

sell @2.0077

Stop Loss @ -30pip
Set Profit Target @ 20 pip

Daily Pivot: 2.0097

To make an adjustment, please read this:

Tuesday, March 18, 2008

Pipologist Daily Strategy

System is very simple, filtered by other indicators, as follows:

- Timeframe: 30M
- 8 EMA (applied to Close) & 13 EMA (applied to Open)
- Trend lines & Regression channels to help spotting intraday breakouts
Filters:
- 8 %R (levels -80 and -20 visible) over 13 RSI (applied to Open)
- MACD (13, 21, 8)

Signal:
1. EMAs cross
2. MACD goes above or bellow 0 level
3. Spot a break of a trendline or regression chan

Rules of entry:
- Always at the close of the candle.
- For long: candles must be above the 2 EMAs (for short: bellow)
- Entry candle must break or be above/bellow the trendline or regression channel.
- %R must be bellow -20 for long and above -80 for short
- Entry must be placed at maximum 4 MACD bars since MACD turned up or down.

I attached a screenshot to understand. This kind of signals are happening everyday.

----------------------------------
If you ever let your position open hopping that the pair will get back on your favor YOU ARE WRONG ! The big guys know the psychology of traders and that the majority think this way and that's why it goes against to eat your stop losses or to get as much as they can from your balance
----------------------------------
Stop loss:
- SL @ 10 pips (+ your broker' spread) above the high of entry candle for short and bellow the low of entry candle for long. I never risk more than 10 pips (above that high - try not to risk more than 20 per total).
----------------------------------
by: pipology

Fibonacci Forex Indicator

Fibonacci has been one of the most popular forex indicator. The name is taken from the name of Italian Mathematician who lived in Pisa in the middle ages. Fibonacci - or to give him his full and correct name Leonardo Pisano.

Amongst his many claims to fame he is credited with calculating "The Golden Ratio" and "The Fibonacci Series" by which the next number of the series is obtained by adding the last two numbers together...... 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, 610, 987, ...

The thing that is quite surprising about the Fibonacci series is that this mathematical sequence naturally occurs so very often in nature, and in so many facets of life. This may have something to do with why it is felt that Fibonacci has a part to play in helping us to trade on the foreign exchange.

Now stay with me here, because we need to take a look at the all important inverse ratio, because it is the use of the inverse ratio that we traders are most interested in. If you divide one of the "Series" of numbers by the previous number in the series you will always get the answer 1.618 and if you divide a "Series" number by a "Series" number two along you will always get the answer 2.618 or put another way the inverse ratios of 0.618 and 0.38916 respectively.

Do you really need to know any of this? Well yes and no. Sometimes it puts things into perspective of you understand how they came to be used and it is of course extremely important to understand as much as possible of what is going on in the minds of the other market participants.

You will, if you have been trading for more than a short while, have come across the retracement levels of 38% and 62%. Guess where they were calculated from. Yes, they are the rounded numbers derived from the Fibonacci series and portrayed as a percentage. Many traders freely state that when a retracement is underway, price will generally "turn" at one of these levels and if it does not, then it is no longer a retracement, it is a reversal.

Over time an extra level has been included which is 50% but as far as I can ascertain this is not a number that is attributed to our friend Leonardo. So what is the truth of all of this? It is true that Leonardo Pisano, was an Italian mathematician who lived in Pisa in the middle ages, and it is likely true that he was the first to document "The Golden Ratio" and "The Fibonacci Series". As to whether the Fibonacci levels will work when used as a trading aid is, I believe, largely dependent upon how popular the Fibonacci trading levels theory is at any given time.

If the price of a currency pairs has reached 1.5670 from a low of 1.5282 and then price starts to retrace, and if the vast majority of traders who are active on this currency pair believe that the Fibonacci levels are a valuable trading aid, then price will most likely bounce at the 38% level of 1.5525 or at the 50% level or at the 62% level.

If on the other hand the majority of traders who are active on this currency pair believe that the Fibonacci levels have no trading aid value at all, then price will most likely settle at whatever is the current perceived market value of that pair. Do I use Fibonacci levels? Well to tell the truth, I do watch the levels, but only because so many traders believe that they work, and maybe this belief alone is enough to endorse their use.

by:Martin Bottomley


Free Forex Signals 18-03-2008

If you are relatively new to this blog, you might want to read these first:

Below is previous (17-03-2008)Trade and it's result
GBP/USD
Stop/Limit/Market Order

sell @2.0215
Result : +20 pip profit

Today (18-03-2008) Forex Signals
Best time to place this order: 8.00 (GMT+3) or 5.00 GMT

GBP/USD
Stop/Limit/Market Order

sell @2.0014

Stop Loss @ -30pip
Set Profit Target @ 20 pip

Daily Pivot: 2.0054

To make an adjustment, please read this:

Monday, March 17, 2008

Free Forex Signals 17-03-2008

If you are relatively new to this blog, you might want to read these first:

Below is previous (14-03-2008)Trade and it's result
GBP/USD
Stop/Limit/Market Order

sell @2.0306
Result : +20 pip profit

Today (17-03-2008) Forex Signals
Best time to place this order: 8.00 (GMT+3) or 5.00 GMT

GBP/USD
Stop/Limit/Market Order

sell @2.0215

Stop Loss @ -30pip
Set Profit Target @ 20 pip

Daily Pivot: 2.0255

To make an adjustment, please read this:

Friday, March 14, 2008

Free Forex Signals 14-03-2008

If you are relatively new to this blog, you might want to read these first:

Below is previous (13-03-2008)Trade and it's result
GBP/USD
Stop/Limit/Market Order

buy @2.0242
Result : No Trade

Today (14-03-2008) Forex Signals
Best time to place this order: 8.00 (GMT+3) or 5.00 GMT

GBP/USD
Stop/Limit/Market Order

sell @2.0306

Stop Loss @ -30pip
Set Profit Target @ 20 pip

Daily Pivot: 2.0326

To make an adjustment, please read this:

Thursday, March 13, 2008

Free Forex Signals 13-03-2008

If you are relatively new to this blog, you might want to read these first:

Below is previous (11-03-2008)Trade and it's result
GBP/USD
Stop/Limit/Market Order

sell @2.0084
Result : +20 pip profit

Today (13-03-2008) Forex Signals
Best time to place this order: 8.00 (GMT+3) or 5.00 GMT

GBP/USD
Stop/Limit/Market Order

buy @2.0242

Stop Loss @ -30pip
Set Profit Target @ 20 pip

Daily Pivot: 2.0202

To make an adjustment, please read this:

Wednesday, March 12, 2008

Top Ten Forex Fallacies

The Internet is replete with so-called "expert" advice on just about everything...and the Foreign Exchange Market is no exception. The trouble with all of this is that bad advice is often given and repeated until it becomes accepted wisdom.

Following is our list of the top ten fallacies concerning the Forex Market:

1. You have to predict accurately to win in the Foreign Exchange Market.

This is inherently wrong, as there is no sure-fire method for making absolute predictions. Conditions are fluid. Too many factors are beyond the realm of absolute predictability.

2. Trade the trends.

Closely related to the first fallacy, this is also dangerous, because most people understand this term to mean "follow the trend." Trend-following systems are forever being developed and implemented. The trouble with that thinking is that it does not allow for the inevitable corrections and flats in the market. Trend-followers generally lose more than they gain, because the market takes from them more than it gives.

3. Markets dance to a scientific tune.

Many believe that Markets move to a scientific theory. A little sound reason refutes this idea. Think about it: if the market moved to a scientific formula, such as those propagated by Gann, Fibonacci and Elliot, everyone would know the price in advance, and the market would cease to exist.

4. Tight stops are foolproof.

The trouble with such thinking is that any hard stop of less than 50 pips has no real chance of surviving, due to Market noise.

5. A complicated, complex strategy is the way to go.

Truthfully, simple is more effective. The more indicators you have to monitor, the more elements there are to break down and throw you off your game.

6. Asset management is as simple as implementing stops.

Placing stops does not equate to managing your money. Such management is more about realizing the relationship of risk to reward, knowing what you have to gain and what you can stand to lose in the pursuit of success.

7. I can prevent future losses entirely by learning from the losses I have already suffered.

Certainly, a person who fails to learn anything from a loss is bound to repeat possible mistakes. However, anyone who trades on the Foreign Exchange Market - or any financial market -- for a substantial period is going to suffer setbacks along the way. It is the big picture, the overall promise of the market that has record numbers of investors flocking to it.

8. "Where there is smoke there is fire."

With the advent of the Internet and the proliferation of websites, blogs, and chat rooms devoted to Forex trading in particular, rumormongering is a way of life. Often, a rumor that has no basis in truth is born of deceit and spread in ignorance. Sometimes, smoke is nothing more than a smokescreen.

Will Rogers' whimsical advice, "Believe half of what you see and none of what you hear," may be extreme, but in the Forex Market, it might be a good approach.

9. You don't need a plan to trade currency.

Someone has said, "No one plans to fail, but many fail to plan, and thus do in fact fail."

The Forex Market has its difficulties, ebbs and flows. To succeed in the long-term, you have to plan your work and then work your plan.

10. Trading is a great way to get rich quickly.

Most short-termers are also short-timers. They lack the stomach and the capital to stay in the game. For the patient, committed, informed investor, Forex is a promising and lucrative Market. Most "wanna-be" traders do not fit the above description, however, and ultimately lose out.

Welcome to the exciting world of Forex trading! Just watch your step, avoid the fallacies, and forge ahead into an exhilarating and profitable venture.

Dustin Pass : Please Visit www.forextradersdaily.com For Further information.


Forex Trading Versus Stock Trading

For a number of reasons, Forex trading appeals to more people than the stock market. One of the reasons is the chance for a much greater return. Foreign currency fluctuations of just one or two percent, occurring on a daily basis, have a chance of returning great rewards to an investor who catches a wave of change and properly plans his entrance and exit strategy. Many people also like the fact that more leverage is available with foreign currency exchange. For example, 10,000 dollars can be leveraged to purchase as much as 100,000 dollars through margins. This allows the chance of great returns, even at only one percent, with less risk than might otherwise be necessary.

The Forex market is open 24 hours a day for trading while the stock market is only open during business hours. A Forex trader can literally work 24 hours a day, moving from the Asian market to the European to the American. Couple this with the leverage opportunities then the chances of large profit with Forex are phenomenal. Also, Forex trading is done without paying commissions, which can amount to significant savings.

Many people who don’t understand Forex and have some experience with the stock market immediately think that it is risky and has low profit margins. They come to this conclusion because less information is available on Forex than other types of trading. Forex requires a trader to educate him or herself. A Forex trader needs to read newsletters and find other ways of self-education rather than just turning on CNN or CNBC.

Stocks have their advantage as people can invest in the stock market without knowing too much and will probably do fine. If an investor buys blue chip stocks they are unlikely to go down in value. For long-term savings stocks are fine, but the short term large gains are definitely to be found with Forex.

Many people don’t realize how large the Forex market is. It is so huge that no single investor can corner the market as has happened in the past with some stocks, and also with some precious metals and commodities.

Some people consider the Forex to be risky. Pension funds rarely invest in Forex. However for the smart investor who has time to become educated, Forex can be the way to go. The billionaire George Soros is a prime example of someone who has done well with forex. He shorted the British pound sterling and made $2 billion in profit at one point. He also makes over 60% returns on the Quantum Fund, which he owns and has over $4 billion under management. Of course, Soros has also lost money, but he says “I simply make a lot of money when I am right…and lose as little money as possible when I am wrong.” Soros admits to being right only about half the time, but does very well when he is right. Soros’s philosophy is to look at a country and its stock market and see if current trends are wrong. If he believes that a current trend is overshot then he goes opposite it, and makes a killing.

In October 1987 the stock market crashed and Soros lost a staggering $200 million in just one day! His reply to this was stoic, "I made a very big mistake, because I expected the crash to come in Japan, and I was prepared for that, and it would have given me an opportunity to prepare for the falloff in this country, and actually it occurred in Wall Street and not in Japan. So I was wrong!" While this mistake cost him a great deal, it wasn’t the end of the world. Soros philosophy is if he is right, he makes a ton of cash, and if he is wrong he pays for his mistake and keeps on moving. A prime example of how good money can be made in Forex by investors who are willing to study, learn, invest and take risks. While not for the weak of heart, the chance of a good return from Forex make it the place for daring entrepreneurs to try their hand.

The Forex market is appealing if you’re willing to learn to educate yourself and trade intelligently.
by David McLauchlan


Trading Trend and Ranges in Forex

Knowing the importance of trading trends and ranges in Forex trading is very important. If you are thinking of trading in the Forex market, be sure you know what these terms mean and their implications.

Trading Trend

When price moves consistently in one direction in the Forex, a trend occurs. When the direction is higher, the trend is often called bullish. When the direction of the price is moving lower, the trend is often called bearish. These terms are relative of course. When you define a trend, you should always remember that price peaks and troughs are in the same direction. When you are dealing with a bearish trend, remember that price highs and lows are moving lower. Likewise when you are dealing with a bullish trend, they are moving higher.

Often when trends occur, it is possible to draw support lines under one that is moving higher (an uptrend). You can also often draw resistant lines above one that is moving lower (a downtrend). Once you see these lines break, it can be assumed that the trend is complete. At this point there is a possibility that the trend will begin to reverse. When it does reverse, you will need to know the pattern of what that entails.

Trend Reversal

When you hear of a trend reversal, it simply means that the direction of market prices is changing. Often you will see trend reversals following a four step pattern. Usually, this includes the market making a new high, the trend line being broken, the market making an intermediate low, and a new rally that does not match the first high. Many times you will see prices break the previous low however. You may come across terms such as Double, Triple Tops, and Bottoms, which are all trend reversal patterns. Head and shoulders patterns are also popular reversal patterns.

Trading Range

The trading range is actually a sideways chart pattern. It is often used to represent a resting period before the original trend is resumed. You may see these when you are charting trends and should know what they imply.

Often trends are very important to investors. Those who engage in trend-following are people who look at major trends and make decisions in the direction of the trend. This can be a good strategy, but you must know a great deal about trends and the market in general in order to use this technique successfully. Beginners are not usually very good at tracking trends and using trend-following techniques. One thing that you should also note is that some price movements are trendless. This means that they have no clear direction, which makes trend-following nearly impossible.

Remember, that in order to fully understand trends, you must be educated in the ways of the market and foreign exchange in general. Beginners should not rely heavily on foreign exchange market trend tracking. Once you get more experience you can begin looking into tracking more and more. However, be aware that different things affect and influence the Forex. These influences can change what people expect trends to be. Therefore, you should be a seasoned trader in order to rely on the trends and ranges alone. Educate yourself on these terms and learn to recognize them in the actual market. After all, learning the terms is one thing and being able to see them in reality is different.

by David McLauchlan

Tuesday, March 11, 2008

Free Forex Signals 11-03-2008

If you are relatively new to this blog, you might want to read these first:

Below is previous (10-03-2008)Trade and it's result
GBP/USD
Stop/Limit/Market Order

buy @2.0164
Result : +20 pip profit

Today (11-03-2008) Forex Signals
Best time to place this order: 8.00 (GMT+3) or 5.00 GMT

GBP/USD
Stop/Limit/Market Order

sell @2.0084

Stop Loss @ -30pip
Set Profit Target @ 20 pip

Daily Pivot: 2.0134

To make an adjustment, please read this:

Monday, March 10, 2008

Forex Trading Currencies

Prices of currency are influenced by a number of factors such as political and economic conditions in the issuing country. Interest rates, inflation and political stability are all factors in the prices of a currency. Governments try to control their currency prices by lowering the price (flooding the market), or by raising the price and buying on a large-scale. Although the volume of Forex is sizable, it’s still impossible to have any control of a market for any length time and because market forces normally prevail in the long run, Forex has become one of the fairest investment opportunities available.

Each currency in the Forex market is given its own three letter code that is used in the Forex quotes. The most common and widely used currencies used in the Forex market are USD (U.S. dollars), GBP (United Kingdom pounds), JPY (Japanese yen), CAD (Canadian dollars), EUR (European euros), AUD (Australian dollars) and CHF (Swiss francs). These currencies are the top foreign currencies to watch in the Forex trading game. The prices of the foreign currency exchanges are specified in pairs by the forex quotes. By using a currency pair of U.S. dollars and European euros in the example below, the first currency is called the base (which is always at 1) and the second currency is called the quote (which shows how much it costs to buy one unit of the USD, or base currency):
USD/EUR = 0.8419. When reversed, this is the cost of USD to buy one euro: EUR/USD = 1.1882.

The base currency is growing stronger when the price of the quote currency goes up, therefore only one unit of the base currency can buy more of the quote currency. However, if the quote currency begins to fall then the base currency will become weaker. All forex quotes are perceived as a “ask” or a “bid” price. The ask price is what sellers will sell the base currency at, while at the same time be buying the quote currency. The bid price is what the buyers will pay for the base currency, also while selling the quote currency.

For example, a symbol bid ask of : USD/CAD 1.2392 1.2397. This shows that you can buy one U.S. dollar for 1.2397 Canadian dollars, or you can also sell one U.S. dollar for 1.2392 Canadian dollars. You can find the exchange rates in cross country charts that list numerous types of currencies with their values against one another. There are also currency conversion calculators, all of which are readily available online.

Along with the U.S. dollar, United Kingdom pound, Japanese yen, Canadian dollars, European euros, Australian dollars and Swiss francs as some of the top currencies to watch in the forex trading game; some new currencies have been emerging. Be sure to keep an eye out on these emerging currencies: CNY (China yuan), CZK (Czech koruna), HKD (Hong Kong dollar), HUF (Hungarian Forint), INR (Indian Rupee), KRW (Korean Won), MXN (Mexican Peso), PLN (Polish Zloty), SGD (Singapore dollar), ZAR (South African Rand), and THB (Thai Baht). These currencies may not be one of the top currencies now, but they can make for some good investments. Taking two examples out of all of the emerging currencies:

The Czech koruna is a convertible, yet free floating currency that has been floating around since May 1997. All foreign investors have unrestricted access to these local markets. London banks continue to be very active in currency trading and accounts for nearly 60% of the daily turnover. This market is liquid for about five years. The Interest Rate Swaps, or the IRS, is mainly driven by offshore banks.

The China yuan is only limited to financial institutions and onshore companies and is not liquid. Currently the USD/CNY rate is about 8.2770 and is being closely managed by the central bank (PBOC). The Chinese government has resisted all calls for them to revalue their currency; but as the Chinese government continues to strengthen their banking systems and make reforms in their economic policies, there is likely to be a possible call for opening spot trading. The interbank money market does not go beyond four months.

by David McLauchlan

How To Trade The FOMC Forex News

This is one of my Forex News Trading Strategy. The Federal Open Market Committee (FOMC) decision on interest rates is one of the most powerful market movers in the forex market and when the markets move traders trading the news have the opportunity to make money. The FOMC sets the discount rate or federal funds rate and because interest rates are set higher to induce foreign investment and therefore fight inflation during times of prosperity and lower to increase spending during recessions they are one of the main factors influencing the strength of the dollar.

Economic indicators play a huge role in the forex trading especially for traders who approach the market through fundamental analysis and trade the news. The Federal Open Market Committee (FOMC) interest rate decision is one of the most influential indicators for the US dollar and you can be sure after the news is released there is going to be volatility in the markets and volatility is what traders thrive on.


I have heard many traders say never to trade the news and especially the FOMC. Although the FOMC interest decision is a news event and can fall under the category of through fundamental analysis I am a technician and I believe that charts always price everything in. However I guarantee the market does not know what exactly the Feds comments and decision will be, therefore it is not priced in yet and this will cause the markets to react when they do find out. This is confirmed by the change in price after the decision and the continuation in the days following.

I have been trading the Fed for eight years now and yes I have been burnt in the past and that is exactly how I have come to learn how to trade it properly. The most common pattern to trade the Fed is the whip-saw. But do not be fearful of it, embrace it. Here is how it happens, first there is a large spike one direction (traders come in and follow that direction)followed by a large spike in the opposite direction (those same traders now sell their first position at a loss and reverse their position - this is when I take a position in the direction of the original move) followed by an extended move back in the direction of the original spike (all the emotional trades are left sick to their stomachs) and I am left holding a very nice position setting myself up to capture a larger than average market move.

If this pattern does not play out exactly as outlined I stand on the sidelines and do not trade at all. Because the markets are moving fast in the period following the FOMC interest rate decision I am watching a very short time frame, mainly the one and five minute charts. Jordan Lindsey is a professional trader who's personal forex trading group 'Conquering The Markets' utilizes his forex trading strategies to trade his forex trading systems with sound money management and together work toward helping people all over the world live better lives.

by : Benicio Brown
www.jcls-forex.com

Free Forex Signals 10-03-2008

If you are relatively new to this blog, you might want to read these first:

Below is previous (07-03-2008)Trade and it's result
GBP/USD
Stop/Limit/Market Order

buy @2.0076
Result : No Trade

Today (10-03-2008) Forex Signals
Best time to place this order: 8.00 (GMT+3) or 5.00 GMT

GBP/USD
Stop/Limit/Market Order

buy @2.0164

Stop Loss @ -30pip
Set Profit Target @ 20 pip

Daily Pivot: 2.0144

To make an adjustment, please read this:

Friday, March 7, 2008

Free Forex Signals 07-03-2008

If you are relatively new to this blog, you might want to read these first:

Below is previous (05-03-2008)Trade and it's result
GBP/USD
Stop/Limit/Market Order

sell @1.9835
Result : + 20 pip profit

Today (07-03-2008) Forex Signal
Best time to place this order: 8.00 (GMT+3) or 5.00 GMT

GBP/USD
Stop/Limit/Market Order

buy @2.0076

Stop Loss @ -30pip
Set Profit Target @ 20 pip

Daily Pivot: 2.0036

To make an adjustment, please read this:

Wednesday, March 5, 2008

Free Forex Signals 05-03-2008

If you are relatively new to this blog, you might want to read these first:

Below is previous (04-03-2008)Trade and it's result
GBP/USD
Stop/Limit/Market Order

sell @1.9844
Result : - 30 pip loss

Today (05-03-2008) Forex Signal
Best time to place this order: 8.00 (GMT+3) or 5.00 GMT

GBP/USD
Stop/Limit/Market Order

sell @1.9835

Stop Loss @ -30pip
Set Profit Target @ 20 pip

Daily Pivot: 1.9855

To make an adjustment, please read this:

Tuesday, March 4, 2008

Free Forex Signals 04-03-2008

If you are relatively new to this blog, you might want to read these first:

Below is previous (03-03-2008)Trade and it's result
GBP/USD
Stop/Limit/Market Order

sell @1.98244
Result : +20 pip profit

Today (04-03-2008) Forex Signal
Best time to place this order: 8.00 (GMT+3) or 5.00 GMT

GBP/USD
Stop/Limit/Market Order

sell @1.9844

Stop Loss @ -30pip
Set Profit Target @ 20 pip

Daily Pivot: 1.9864

To make an adjustment, please read this:

Monday, March 3, 2008

Free Forex Signals 03-03-2008

If you are relatively new to this blog, you might want to read these first:

Below is previous (28-02-2008)Trade and it's result
GBP/USD
Stop/Limit/Market Order

sell @1.9822
Result : +20 pip profit

Today (03-03-2008) Forex Signal
Best time to place this order: 8.00 (GMT+3) or 5.00 GMT

GBP/USD
Stop/Limit/Market Order

sell @1.9845

Stop Loss @ -30pip
Set Profit Target @ 20 pip

Daily Pivot: 1.9865

To make an adjustment, please read this: