WORLD FOREX INFORMATION

Gold prices have taken a break after a sharp rally last week - gold soared from $1,137 oz on November 27 to all time high at $1,1226 on December 4, to retreat after upbeat U.S. employment figures, reaching levels at $1,135 oz low on Monday's European session, the Dollar, meanwhile, has soared across the board shrugging off previous weakness.

EUR/USD which has been rather correlated with Gold prices, reached 1.5141 high November 3, four pips short of 15-month high at 1.5145, and the pair dropped about 260 pips after U.S. NFP figures, reaching a session low at 1.4820, which has been broken today, with the Euro hitting a fresh one-month low at 1.4755.

AUD/USD, another gold-related cross, reached 0.9325 high on December 3, and the pair plunged on U.S. session from right below 0.9300 to 0.9110 low, to extend downwards on early European session, reaching 0.9050 low.

GBP/USD dropped on Friday from 1.6675 high on Friday to 1.6420 low on widespread Dollar strength after U.S. NFP figures were released, and the pair has weakened further on early European session to 1.6330 low.

USDCHF stays in a trading range between 0.9917 and 1.0222. Further rise to test 1.0222 resistance would more likely be seen later today, a break above this level could signal another bounce to 1.0300 zone. Key resistance is located at 1.0338, only break above this level will indicate that the longer term downtrend from 1.1021 (June 24 high) has completed at 0.9917 already.

EURUSD Analysis.
EURUSD continues to trade in range between 1.4801 and 1.5144. Lengthier sideways movement in the range is expected in a couple of days. Support is located at 1.4801, below this level will signal deeper decline to 1.4700 zone.

GBPUSD Analysis.
GBPUSD has formed a short term cycle top at 1.6721 level on 4-hour chart. Deeper decline towards 1.6271 previous low is now in favor. Resistance is at 1.6565, as long as this level holds, downtrend from 1.6721 will continue.

USDJPY Analysis.
After breaking above the falling trend line on 4-hour chart, USDJPY bounced sharply to as high as 90.76 level. Further rally is still possible later today and next target would be at 91.50-92.00 area. Support levels are at 89.25 and 88.85.

TOKYO (Dow Jones)--The dollar fell against the yen in Asia Monday, as Japanese exporters took profits on Friday's sharp rise in the greenback on the back of stronger-than-expected U.S. employment data.

The dollar fell about three-fourths of a yen to an intraday low of Y89.76 Monday, compared with Y90.50 in New York late Friday. At 0450 GMT, the dollar stood at Y89.84.

Traders said the dollar could fall further if Japanese manufacturers keep selling dollars ahead of their planned book-closing at the end of December, or if long-term interest rates in the U.S. increase, hurting the nation's stock markets and economic growth.

"Because many Japanese companies have set their in-house foreign exchange rate at the Y90 mark, there seems persistent dollar-selling pressure around that level," said Yuzo Sakai, a foreign-exchange manager at Tokyo Forex & Ueda Harlow.

Although Friday's U.S. jobs data added to signs that the U.S. economy is improving, Sakai said the dollar could fall to as low as Y89.50 in the near term.

Foreign exchange market participants are also paying close attention to the U.S.'s planned auctions of government securities this week. Weak demand for bonds could lift long-term U.S. rates, which could darken the outlook for the U.S. economy and possibly dent demand for the dollar, dealers said.

"The dollar may come under even stronger selling pressure if the U.S. bond market sees a bad rise in long-term yields due to oversupply concerns," and if such yield gains cause U.S. share prices to fall, said Yuji Saito, head of foreign exchange at Societe Generale.

The U.S. government is slated to auction $40 billion worth of three-year notes on Tuesday, $21 billion in 10-year notes Wednesday and $13 billion in 30-year bonds Thursday. The 10-year U.S. Treasury yield stood at 3.474% as of 0450 GMT.

While most dealers expect the dollar to fall in coming days, some in the market warn that the greenback could get a boost if U.S. Federal Reserve chairman Ben Bernanke sounds optimistic about the nation's economic outlook in his planned speech later in the global day. Bullish remarks from the Fed chairman could fuel speculation that the bank may change its super-easy monetary policy stance, possibly lifting its policy rate by the end of June, those dealers said.

Meanwhile, cross-trading pressure from the dollar's decline against the yen caused the euro to fall against the Japanese currency. The single currency touched an intraday low of Y133.68 compared with Y134.29 late Friday in New York.

However, the common unit was slightly higher against the dollar at $1.4890, compared with $1.4847 in New York.

Interbank Foreign Exchange Rates At 23:50 EST / 0450 GMT
Latest Previous %Chg Daily Daily %Chg
Dollar Rates 2150 GMT High Low 12/31
USD/JPY Yen 89.84-89 90.27-33 -0.48 90.38 89.77 -0.84
EUR/USD Euro 1.4890-94 1.4851-53 +0.26 1.4898 1.4852 +6.52
GBP/USD Sterling 1.6482-86 1.6424-30 +0.35 1.6505 1.6425 +12.69
USD/CHF Swiss Franc 1.0143-47 1.0165-71 -0.22 1.0173 1.0142 -4.93
USD/CAD Canadian Dlr 1.0553-56 1.0562-65 -0.09 1.0578 1.0534 -13.25
AUD/USD Australian Dlr 0.9157-59 0.9132-35 +0.27 0.9171 0.9116 +29.46
NZD/USD New Zealand Dlr 0.7173-78 0.7150-55 +0.32 0.7188 0.7147 +22.93
EUR/JPY Yen 133.79-84 134.05-09 -0.19 134.35 133.68 +5.65

Foreign exchange bankers reacted with alarm yesterday to proposals from Barney Frank, the powerful chairman of the House financial services committee, that would require trades in currency derivatives to be processed through a centralised clearing system.

Bankers said the proposals would introduce systemic risks into the financial system and that the sheer size of the market would dwarf the risk that could be sustained by any clearing house.

About $3,200bn of currency is traded daily around the world. About two-thirds of that trade is in derivatives that are used frequently by companies during the normal course of business to hedge the risk that currencies move sharply between a deal being struck and completed.

Bankers say that companies would face higher costs for these hedges under centralised clearing and that potentially they could be required to post extra collateral.

However, some large users of currency hedging said yesterday they were unconcerned by the putative change, having calculated that the potential increase in cost would be "marginal" and outweighed by greater security and price transparency.

The proposals was made by Mr Frank, outlined in an interview with Risk magazine, as lawmakers and regulators tussle over the detail of legislative proposals governing the vast over-the-counter derivatives market.

Some companies have shrugged off entreaties from their banks to lobby members of Congress over derivatives reform, concluding that their interests could be better served by the broad shift to central clearing and exchange trading.

Others, such as Caterpillar this week, have argued they face costly margin requirements under some versions of the regulatory reforms now under way.

Mr Frank said that mooted exemptions for foreign exchange trades from the OTC market reforms being considered by US Congress would not be adopted.

"The administration had asked for that amendment, but we are going to take away the exemption for foreign currency [swaps and forwards]," he said. Mr Frank's office confirmed that he would seek to remove the exemptions.

As the Forex Market is so big, there must be room within it for you to make a profit especially as there are so many so-called great trading tools and techniques available.Unfortunately, this is not the case and you need to view this business in a different way to understand why.


As stated, the daily turnover of the Forex Market exceeds well over $3 Trillion dollars. This colossal figure is the total sum of all the transactions traded worldwide on any given day that are initiated by a massive number of participants, each having their own agenda. In addition, some of these Forex traders are large corporations and governments who have substantial budgets at their disposal that may well exceed billions of dollars. They can generate, just on their own, very large movements in currency pairs (spikes) by the sheer size of their transactions and can do so without providing any prior warning to the rest of the market.


How does this affect you? Well, consider this sequence of events as an example. Supposed you have initiated a Forex trade, which after a number of hours of hard work, is proceeding in your intended direction as planned. You decide to take a break and maybe even brag to your partner about your latest success. After 10 minutes or so, you return to your PC station only to discover that a massive reversal has occurred completely obliterating your position including any potential profit. This type of event can happen frequently with no prior warning of any type.


Now suppose you decide to enter the fray with the princely sum of $1000 (one thousand dollars), you would quickly realise that the Forex Market is the equivalent of a hurricane tossing you about like a rustic leaf. One famous Forex advert used to say that if you do not trade Forex then you are leaving someone else to pick up $5 bills of the marketplace floor. In reality and if you had been actively trading in those days, the aforementioned $5 dollar bills would more than likely have been yours.


In fact, after trading for a while, you can quite easily become paranoid developing a feeling that Forex is haunting you personally awaiting to crush your next move without mercy. So, is it possible for an individual with limited resources to make profits trading Forex? Yes, it is but to do so you may need to fundamentally change the way you view the Forex if you have not achieved any success to date.


This article is one of a series comprising a course that is designed to show you how to achieve this task and also how to produce your own successful Forex Trading System. One article a day will be posted on the DailyForex.

A trading system is a set of rules, usually based on technical indicators, that defines when a trader enters and exits trades. In addition to increasing profitability and limiting risk, a trading system removes emotion and subjectivity from trading decisions.

All traders should use a trading system. However, no one system works in all types of market conditions. As a result, the Forex trader needs two or three systems at their disposal and must know when to switch among them.

The main types of trading systems are trend-following, counter-trend or range, breakout or counter-breakout, and pattern recognition.

Trend following systems are the most common type of system that traders use. They can be very profitable because within a strong trend, moves are often large ones. Trend following systems buy high and sell higher as prices move upwards. One example of a trend following system is a moving average (MA) crossover approach. A trader would buy when a faster MA crosses above a slower MA. In this example on the three-hour Euro chart, you can see three buy points as the 20 EMA (in purple) crosses up above the 50 EMA (in red). You also have one sell point where the 20 EMA crossed below the 50 EMA. All these trades would have been profitable had you trailed your stop.

While trend following systems work well within a strong trend, they cause whipsaws when the market is moving sideways. Notice the circled area on the chart in November. Following the system would have resulted in four unprofitable trades.

In a market moving sideways, the trader needs to switch to a range or counter-trend system. Ranges can be horizontal, ascending, or descending, but they all have a definable top and bottom. There’s greater risk in this approach because you’re trying to pick tops and bottoms—in other words, you’re trying to buy-low and sell-high. Counter-trend systems often involve the use of such indicators as RSI, MACD, and the stochastic, looking for overbought and oversold conditions. They can also use divergences between price and indicators, or crossovers in Bollinger Bands.

Look at the Euro chart below. I’ve added Bollinger Bands to the same three-hour chart during the sideways period in November. Here you’d sell when price touched the upper band and buy when it touched the lower one. It looks simple enough. Remember, though, that counter trend trading carries significantly more risk. As a result, you should always look for other, confirming evidence. (Frankly, even with trend following systems I look for additional evidence for entries.) In this case, note the difference in candle behavior on the last trade that failed. Instead of the upper shadows that the prior candles displayed when they touched the top of the bands, you see stronger candles forming with no upper shadows.

Tel Aviv, Israel, December 03, 2009 --(PR.com)-- Forex Explore is a forex portal dedicated to all traders around the world. This site brings a collection of comprehensive forex broker reviews and rating. Recommended forex brokers listed are constantly monitored and broker reviews are updated accordingly.

Along with full reviews, visitors are able to post their experiences with any forex broker on the site. Specializing in forex exchange market, Forex Explore is the leading resource to answer all trading questions and choose the best forex broker. The site contains information, articles, currency exchange latest news, tools and strategies to help a beginner to get started in the vast world of financial markets.

It turns out that our demo server has been crushed by a bad motherboard and other issues, so all of our trading robots will be on hold for a few more days. We will post our results as soon as we have it back on line.

What else can we say about this Forex trading robot. It is now up 219% and who knows where this robot will go at this point. The settings have been great, giving us great gains when the market is moving in big swings. When you are trading currency pairs like the beast, you always need big movements to have nice gains

We will start monitoring results as of May 4, 2008.
Our setup – Demo Account at InterbankFX
Starting Balance – $10,000
Money Management turned on so our amount of lots trade will increase as we make money and decrease as we hit draw downs.
We are trading 10 currency pairs.
All of our settings will be default.

Our Rules – We will run the robot continuously in a Forex Auto pilot mode and not touch it unless we run into a software problem. The robot will be active during every news event as well. We will update this page as the results come in over the coming months.

Here is a look at the platform on Day 1. We have already entered a few trades. None of them have closed yet

We got off to a fast start setting the robot up only because we know the Metatrader platform. For novices this setup can be pretty complex and it will require patience. Don provides several tutorial videos and write ups to help you get through the initial setup. Once you are all setup there is not much else to do except watch the software in action. Setting this robot up will help you learn the platform as well. With the amount of programming the fee of $199 seems very reasonable. Now all we have to do is make a profit and we can say the $199 is very cheap.

We are pleased to offer you information about the Forex robot software created by Don Steinitz. After many emails with Don, we are excited to share with you, our review and performance of this trading robot. You don’t always know who are dealing with when buying a product, but Don was very open and very responsive to all our questions. We worked out a way so we can share the performance of this trading software and hopefully prove to you that it is one of the best robots on the market.

After reaching new highs with our demo robot, we have taken a step back in this consolidation of the Sterling Yen. We will look to get back on track tomorrow. The $5,000 account which reached highs of 66% is now only up 20%. A lot can happen in a couple of trading days.

Are you looking for a Forex Signal service provider? Not all signal providers are created equal.

Netpicks.com is one of the major players that has been around for a very long time. A lot of signal providers come and go, but Netpicks has stuck it out because there systems are always evolving with the markets.

You will need to try there free trial to be sure if it is for you or not. We will never guarantee you will make money with a signal provider, but you can be sure this is not a Forex scam of some sort. There are plenty of them out there, but Netpicks has great customer service behind it.

Forex Trading Results – Posted April 28, 2008
Last 30 Days = 903pips
Last 90 Days = 1743 pips
Last 180 Days = 3257

The results doesn’t mean you will start receiving the same yourself. We want you to know that they have had positive results in the past. Always do your due diligence. This way you protect your capital for the long run.

Included with their Forex package is a e-mini futures trading signal service that you may be interested in if you are a futures traders. We can’t speak too much about this service since we never used it before. That is why they have a 14-day free trial to help you decide if it is worth paying for.

A stock option gives an individual the right but not the obligation to buy or sell a stock at a pre-determined price. With that said, most people simply trade options for profit rather than buy them to end up owning the stock. Option prices generally move in conjunction with the parent stock.

The beauty of options is that you, as a trader, are able to capitalize on the movement of some of the hottest stocks trading for only a fraction of the price of the stock itself. One of the most exciting things about having your account with Zecco is the trading community. You’ll be there on the cutting edge with thousands of other traders, many of who are more than willing to share the hot picks of the day. This alone makes having an account with Zecco a no-brainer.

We’ve really just scratched the surface when it comes to the advantages you’ll receive with Zecco as your online broker. Why not take a closer look for yourself.

Of course, you’ll have access to every major market in the United States. And while many online brokers have become reluctant to allow clients to trade micro cap issues, also known as penny stocks, Zecco is more than happy to facilitate your trades. Micro caps are often known for their volatility. And it’s volatility that makes the way for profits. Doesn’t it make sense to have yet another tool in your trading arsenal? Trading penny stocks with Zecco just might be the tool that makes the difference for you

The object of trading securities of all types is to buy low and sell high or to sell high and buy back at a lower price. This is also the name of the game with Forex trading. The concept is simple. Forex trades are carried out in pairs. In the simplest of trades an individual might buy one currency while selling another. For example, if you were to buy US dollars when they were rising in value against the Canadian dollar, you would want to later sell those dollars before they begin to drop to realize a profit. Simple.

Zecco offers folks new to currency trading easy-to-follow tutorials. Not only that, but you’ll receive $50,000 in virtual funds to ‘get the hang’ of real time trading. You’ll also receive 24-hour phone and chat support (the Forex market is open 24/7).

Two great days in a row put our demo trading robot up 83% since our inception no so long ago. We have attached our trading sheet since the start to show you the low amount of draw down and positive gains we’ve seen. Our account value is now at $9168 going into the weekend. We will try to go for our goal which is too double our money.

If we see a successful trade on Sunday night going into Monday we will be real close to the 100% mark. The beginning of the week was real tough for us, but when you put two winning trade together in a row, it makes up for it much quicker.

FXCM is a very powerful broker option. Behind this fantastic platform is a company in the forefront of the Forex market. FXCM offers many advantages to it’s traders including great spreads and excellent execution. With fantastic customer service FXCM ranks as one of the best in the business.

Opening a demo account is very easy with just a quick download and install. Once that is done you are ready to start demo trading.

You have a very nice and clean looking platform that gives you all the items you need to execute a trade.You have the option of single click execution, but of course you can set your orders as limits, market orders or just about any standard order entry available today. The charts are fairly basic, but work well for most traders.

See the examples below of our Forex Broker reviews and start trading with confidence.
FXCM Review

FXCM Trading Review
FXCM is a leading dealer in the Forex Industry and there are many reasons why. This regulated broker has all the things you want in a Forex Broker. There platform is made for the institutional traders, but perfect for the small trader as well.

1. Spreads as low as 2 pips
2. No dealing desk platform
3. Top-tier customer service
4. Micro Accounts

When it comes to Forex trading, finding the right Broker could be the difference between success and failure!

How to choose the right Forex broker for you? A practical guide for putting your Forex dealer to work for you instead of against you. Many successful traders have had their accounts frozen at low level bucket shops because they did not perform sufficient due diligence before risking their hard earned money. Here at forexnewstrader.com, with the help of Forex Cash Back, we have done the grunt work for you.We leveraged our 20 years of financial markets experience and put together a special report that will open your eyes to the many intricacies involved when choosing a Forex broker. This report will show you a well hidden secret that will enable you to reduce your spreads by as much as half a pip regardless of the dealing firm that you trade with. Obtain your 30 page guide immediately! This report will show you:

How to receive an instant bonus on your deposits?
Factors to look for to make sure your dealing firm is reputable and safe
How to enhance the safety of your funds?
How to receive volume rebates on your Forex trades?
How to find the right Forex broker for your particular trading style?
How to find a good regulated Forex Broker
And much, much more.
The Form above will get you access to the special report.

You may be asking, what the heck, why am i not receiving a Forex Free Bonus. First you need to figure out even if your broker offers them. Most likely you have to go to an Introducing broker (IB) for these bonuses, but for sign up deposit bonuses, you most likely can go directly to the broker. Just remember, are you the up front kind of trader or are you the type of trader that wants to keep getting paid, win or lose on your actual trading stats with a cash back system.

This has been discussed heavily on the site, but Forex Rebates is going to be the norm whether you are involved or not. The line is forming and the brokers are listening. Traders don’t want to pay full price for their trades anymore. They want to work with an Introducing Broker that offers trade rebates. This is a Forex Broker Bonus that keeps on giving. As you make trades you receive a piece back into your trading account or in other ways people payout, like Paypal or check. This is cushion money and it builds up fast. You make a one standard lot trade and you can be earning $6 – $12 for just opening and closing the trade. This is fantastic and it is a win win for every one, especially the trader. Forex Trading rebates will go a long way and to make sure a Forex broker keeps you on board, this is one of the major tactics that is being explored by more and more people.

What if you were to send someone $100 and they call you the next day and say, hey you just sent me $110, but I thought I was only getting $100. Obviously this person was not only excited, but was also intrigued by this gesture. The point is, what if you received a percentage of free cash into your trading account for only opening a new account with the broker. The brokers gesture is to make you happy of course and to have you stay with them for the long haul. They don’t want to see you leave soon after opening for another firm, they want you to stay for as long as you can. This Forex account bonus can go a long way in this type of trading environment. Usually what will happen as well, is if you were unfortunate to lose most of your trading money, they may send you a message asking you to make another deposit and a long with it another bonus. This is more of a reload bonus then a sign up bonus.

A nice start to the week for our robot. We took one trade last night and it was on the short side. The trade only took a few hours to reach our target profit point. Unfortunately we had to restart our demo robot, but at least we can just start it from scratch. We have only traded a few days with this one, and we are up 11%.

We are still monitoring the breakout robot for the Pound Yen. Today turned out a bit strange due to the closed market for the Easter holiday. I think the robot got a bit confused and used the wrong high/Low for this trade. Although we made over $230 on this trade, we should have had the whole target profit in our account. These things happen sometimes, so we need to monitor it around in the future around holidays.

Using these robots is quite fulfilling when they work out. Here we go again. We took two trades last night, one for a lost and the other reached our target profit. The great thing about it reaching the target point is that it retraced 50% after it hit. Getting all the mileage we needed before a turn around is nice. The trailing stop was there in case we needed it, but in the end we made out well. This demo account is now strolling in the green again. We started with $5000.

The beast was tamed last night for sure. After nine trading days, we finally saw the power of the trading robot and keeping the emotions out of it. We knew once the GBPJPY broke out of it’s tight range, that the system would follow through too the end. The demo account took one trade and never looked back giving us a full target of 185 pips. Our account is now in the green by $1674.49.

We waited several days for this too happen. We were close on several occasions, but with the beast’s latest range, it made it very difficult. During the days or weeks when we are in a range without too many breakouts, you usually find yourself in some rough patches, however we never had too much drawdown with this trading system. We will continue testing this strategy next week to see if we can continue the success. If you would like more information on this strategy please contact us by using the form above or on our contact page.

Why Metatrader is the best way to trade Forex?

Many Forex traders that enter the market are clueless on how to trade. Most, if not all Forex brokers offer demo practice accounts to get you adjusted to their platform. The great thing is a lot of them are Metatrader brokers. This means their core platform comes from a company called Metaquotes. These brokers more or less lease the software and allow the traders to build their trading strategies.

The most powerful thing you can do with this software is create your own trading strategies and program them into an Expert Advisor or EA for short. These EA’s are state of the art and allow you to auto trade the strategies. Auto trading is a phenomenal thing, in that you don’t have to be at your computer for trades to open and close. The stability of the platform is fantastic and the only thing that may carry some worry when you are not present is your Internet connection.

The top 10 reasons why you should use the Metatrader ( MT4) platform:

1. The Metatrader platform is versatile and very stable.
2. There are plenty of Metatrader brokers to choose from.
3. You can find metatrader expert advisor programmers to create your strategies into EAs if you can’t do it yourself.
4. If you look hard enough you can find free meta trader EA’s.
5. The software is free to demo with for as long as you want.
6. You can create your own Forex Trading Robot.
7. You can create as many Trading templates as you wish.
8. You can manually back test all the strategies you plug into the system.
9. The charts are very clean and very easy to read.
10. The reporting gives you full statements and information without logging into a broker website.

So, why wouldn’t you use Metatrader as your platform for your Forex trading? The only real way to know if this platform is for you is to open a demo account and start practicing with it. Metaquotes

Forex Auto Trading is a fantastic way to trade for people who have too many emotions or can not be in front of their computer all the time. Autotrading will give you the freedom to test as many robots or EA’s as you wish without risking a dime.

We will go over some Auto trading robot’s and find the ones that work.

Trying to figure out which autotrade method will work for you may take some time, so you will need to be very patient and not get discouraged. The creation of demo trading allows us to test as many autotrading methods that are available to us, which is a fantastic thing.

Six Auto trading Methods that come to mind

1. Scalping auto trading
2. Breakout Auto trading
3. Pivot Point trading
4. Fibonacci auto trading
5. News Straddle System
6. Moving average crossover

Which automated Forex trading strategy is the best? We will work as hard as we can to find out. If at any point you have any questions or feedback please let us know so we can find an answer for you. Trading is an art and as traders we want to share our projects with you, whether they are worthless or profitable. You always need to keep in mind that past performance does not mean you will have the same future results.

A lot of Forex Signal providers will send out Forex Alerts using an SMS system that will send the signal to your email, cell phone, or any other device that can receive these types of messages. The one thing you need to consider when signing up with a Forex Alert provider is to know how well the alerts are sent to you. If you are getting the Forex signals too late, what good is it to you and your bankroll. Once you find a signal provider be sure to ask them the appropriate questions on delivery times and guarantees. This is one area that may cost you more money than you want.

Having a good provider is nice and will improve your daily time schedule since you won’t have to sit at your computer all day. Even better is if your Blackberry or Iphone can make trades for you, then you won’t even need a computer at all. This is a huge factor.

Finding the programs out their can be difficult, but make sure your due diligence is involved. Keep the provider in check so ask all the appropriate questions. If you get solid responses then most likely a free trial is well worth it, especially on a demo trading account.

If you find a good alert provider please let us know more and we will let more people know, just fill out the contact form on the contact page

Looking for the perfect Forex trading strategy is a waste of time. No trading strategy is perfect for every trader. You can’t expect to win every trade you take. However, you can lose 99% of the time if the 1% that win are bigger gains than the losing trades combined. No one wants to lose 99% of the time. You need to be realistic with your methods. You need to work through the motions and don’t expect everything to come easy and perfect.

Forex News Trader can provide you with tools to help increase your trading performance over the long run. By using these techniques you will feel more comfortable and confident in your trading going forward.

There are plenty of trades during the week. If you miss a Forex Trade, another will follow shortly. Don’t force trades and don’t let emotions affect your outcome.

Forex trading strategies are a dime a dozen, so choosing the ones you want to use will take some time and effort. The great thing is you will be able to test as many strategies as you want.
Non Farm Payroll Trading Strategy

If you are going to choose a news trade to trade during the month, then the NFP announcement is your best option for movement. If the economic release comes in as expected, you will only see a fair movement on the currency pair you are trading (GBPUSD). If the announcement comes in better or worse than expected you can expect to see some fireworks. What looks to be a dud sometimes can work out to be one of your better trades. You need to watch for more than just the release. NFP Strategies can kick in at any moment. Watching a short term chart as the news comes out, wait until a support level and a resistance level are formed. Once either of these lines are broken, enter the trade looking for as much profit as possible. Once in profit, it is wise to move your stops closer to your opening price.

Remember, to keep the profits going in the right direction for your trading strategy, you need a few things working for you.

1. Having the right broker could be the single most important thing, especially when it comes to trade execution
2. If you want to lower your transactions costs, receiving Forex Rebates is a must. Start earning Forex Trading Rebates now.
3. Keep your emotions out of the trade and trade with a positive attitude.

From the Desk of Dustin Pass, Professional Trader and Forex Funds Manager



Dear Forex Trader,



* Would you like to make more money with a lower risk of loss, in a far less stressful manner, and in a fraction of the time you probably devote to trading now...



* Would you like to get in on one of the most success moneymaking strategies of the big institutions...



* Would you like to avoid years of trial and error and financial heartache and trade like a professional Forex trader today, versus the other 99% of traders that fail and lose big time...



* Finally, would you like to be in and out of your trades in minutes versus hours or
even days...



To receive your FREE Forex "Live-on-the-News" Trade Calls, simply enter your name and email address in the form below...On the US ISM release, you will see the RSS software alerts to a revision / conflicting data which allows me to instantly get out of the trade and NOT LOSE where others may have lost big time.

*Trading Forex Live-on-the-News is actually quite simple when you understand how. You do not need a crystal ball or 15 years on Wall Street to get in on the action...*

All you really need to know is:

� What announcement will move the Forex markets significantly?*

� How to get news releases instantly without delays? *

� Where to find accurate forecasted numbers for the upcoming news?*

� How different the actual numbers must be from the forecasted numbers to move the market?*

� What does the number mean to the country's economy, and how will the currency react to it? *

� When to take your profits and cut your losses...*

There are over 500 Forex data news releases a month, out of those 500 news releases I concentrate on approximately 30. Of the 30 news releases I expect 15 of them to be tradable.

Sign up for your FREE Forex Trade Calls today... and discover how I have been able to make more money with a lower level of risk, in a far less stressful manner, and in a fraction of the time I used to devote to trading now...

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To Your Trading Success,


Dustin Pass
Professional Trader and Forex Funds Manager

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FXstreet.com (Barcelona) – The Dollar's decline against the Yen from Friday's high at 91.30 has continued during today's session to break MA55 hourly chart level at 90.50 and trade at intra-day lows close to 90.35. Currently the pair is trading around 90.50/60, 0.45% below today's opening price action at 90.95.

Initial support level lies at 90.30/40, and below here, 90.15 and 89.70/90 congestion area. On the upside the Dollar might find resistance at 91.15, and above here, 91.35 (Oct 16, Sept 25 high), and then 91.55/65 (Sept 23 and 24 highs).

Karen Jones, Analyst at Commerzbank, expects the USD/JPY recovering to trade above 92.50 as Commerzbank views the recent low as key turning point: “We look for recovery to 91.75 (the July lows) then 92.55/90 (50% retracement of the sell off from August). The market has recently rebounded just ahead of major support, which extends from 87.60-86.30 and contains this years lows, a 14 year support line and an inter-year pivot line. From a longer term perspective we view the recent low as a key turning point.”

FXstreet.com (Barcelona) - The Pound has weakened somewhat during the day and from Asian session high at 1.6370, the Pound has dipped to 1.6240 to bounce back, reaching levels above 1.6300 at the moment of writing.

On a wider perspective, Valeria Bednarik, collaborator at FXstreet.com sees the Pound consolidating with a slightly bearish perspective: "Pair remains consolidating with a slightly bearish perspective at this point. 20 SMA still flat above current level in the hourly, needs to turn to the downside to support indicators that turned down. 4 hours charts still show upside limited while 1.6200/10 is still the support zone to watch for a break lower."

Support levels, according to Bednarik, lie at 1.6260, 1.6230 and 1.6200. On the upside, resistance levels lie at 1.6350 1.6400 1.6470.

FXstreet.com (Barcelona) - The Euro has shrugged off weakness seen during Asian session and, after bouncing at 1.4825, the pair has reached 1.4950 area, and according to Stoyan Mihaylov, technical analyst at Deltastock.com, targeting 1.5104.

The pair seems ready for its next leg upwards, with main target at 1.5104, says Mihaylov. "Recent low at 1.4827 was a test of the 1.4812 support area and the pair is ready for next leg upwards, to 1.5104 main target. Intraday resistance comes at 1.4967 and crucial is 1.4872."

In a longer term view, Mihaylov observes the Euro in a broad consolidation after bottoming at 1.2331: "EUR/USD is in a broad consolidation, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are neutral, and trading is situated above the 50- and 200-Day SMA, currently projected at 1.4134 and 1.3523."

The beleaguered dollar found no reprieve in the Wednesday session, extending its losses to fresh 14-month lows against the euro and Australian dollar to 1.4934 and 0.9156, respectively. A shift to riskier assets was triggered by a stronger than expected earnings report from JP Morgan Chase, prompting advances in the US equity bourses with the Dow Jones, Nasdaq and S&P 500 all gaining by more than 1.2% by afternoon trading. The Dow Jones edged higher toward the psychologically key 10,000-level, briefly breaching above it on an intra-day basis for the first time in a year.

Written by admin on March 19, 2008 – 7:09 am -


Trading on the Foreign Exchange Market is a rewarding, yet challenging endeavor. A trader can never be too informed or have too many useful insights. Successful traders are always learning and growing.


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Written by Britt Maras on March 16, 2009 – 6:59 pm -


The EUR/USD forecast faces critical support at 1.2918-39 level for a buy entry. If the pair does not fall that low BUT breaks 1.3004 before testing the critical support; FX Traders can buy at 1.3015. If 1.3017/23 rejects, my stop at 1.2977 to 1.2991 could be suspect. If 1.2964-77 holds support and 1.3007 again gets busted north – traders might reenter.

I prefer to see the low-to-mid 1.2930 level to be tested to enter this long position. But as stated above, should the level not be tested, traders may enter at 1.3009 again. Currently the uptrend is in a consolidation pattern with a bullish tone. No need to get excited — but will play the listed levels.

Targets are 1.3093 and 1.3131-71 and 1.3287. Any straight burst of 3200 targets 1.3327. I will be issuing a PMTP Alert that should be good for about 4am tomorrow morning. This means we have a good deal of ranging noise for the next several hours.

Currently the US Dollar Index is mixed with a good hint of hidden bearish divergence to force it lower. Both the GBP and EUR are facing a major decision within the Dollar Index. This Index needs to make a move in order for any bearish Dollar trend to develop. Stay tuned.

Britt Maras

Senior Currency Strategist

Written by Derek Frey on July 8, 2009 – 8:37 am -


This week we have a light report schedule and that is likely to cause the forex market to stagger around. We remain Dollar bulls as it continues to pay off. Stocks continue to pivot around the 900 level on the S&P but downside risk outweighs upside opportunity at this time. Look for dips in Dollars to buy into.

EUR/USD:
Sells taken in the 1.40’s to 1.41’s should be solid entry points as discussed last week. Look for breaks towards the 1.38 level to take profits or at least lock in gains. We could see a much deeper correction but for now we will just look very near term. Same comments as last week as it still applies.

GBP/USD:
The cable remains resilient but offering great opportunities on both sides. We are predominately looking for rallies near 1.63 to sell into this week. We are still looking for this pair to fall back below 1.60 before month end.

USD/CHF:
This pair remains a buy close to the 1.08 level. This pair could see a move back into the low teens before this rally stalls. Same comments as the last few weeks and they still stand. They have paid off nicely the last few weeks and we see similar movements in the weeks ahead.

USD/JPY:
This pair continues to hang around the 95 handle the same way the S&P 500 hangs around 900…coincidence??? I think not. For now we will be patient but still overall looking for major rallies to sell into longer term.

AUD/USD:
We are seeing the .8000 level retested and will again look to sell above it. This is a larger play on a commodities slow down as the global recovery continues to be muted to slow at best.

USD/CAD:
When oil was at 72 I mentioned here we would see 55 before we saw 75. Most of you said I was crazy but now back under 65 all of a sudden a get a number of emails agreeing with me…lol. I continue to expect oil to fall back towards that level but will begin covering shorts near $60.00. If crude does continue to pull back then this pair should see further upside. With that being said the downside risk is starting to outweigh upside opportunity so we will use extra caution here this month.

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

WOULD YOU LIKE DEREK TO COACH YOU THROUGH
THESE TRADES IN REAL-TIME?

Yesterday we bought Dollars on dips as I have consistently suggested in my trading room signal service and newsletter, and once again we saw it pay off. We had what by most standards was a good month, in a single day. We have already followed yesterday up with more profits today. And all of that is after making almost 1000 pips last month. I just wanted to let all of those struggling know that there are some of us able to not only survive, but actually Thrive in the otherwise tumultuous times we are living in.

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It’s tomorrow, so check it out here:

Written by Britt Maras on July 8, 2009 – 5:42 pm -


Forex Traders may consider this Forex Signal for Price Action



July 8th 7:15-7:50 p.m. EDT for 1.75 hours duration moderate-to-strong price action



July 9thth 2:20-2:50 a m. for 2.5 hours duration with strong price action



July 9th 8:15-9:00 a.m. for 3 hours duration with strong price action



Currently primary pairs, eur/usd, gbp/usd, usd/jpy are out of harmony but this will change soon based on a primary directional move within the U.S. Dollar Index. I will be on call pretty much for the next 48 hours in effort to capitalize on what I believe will be a rather handsome profit potential and I look forward to making a solid Trade Alert.



If you followed my signal today we lost 35 pips trading the GBP/USD as I always run tight stops – usually less which offers me a average profit to loss ratio better than 2.5:1; this loss today compares to more than 170 pips profit booked in the last trading week.



This month I anticipate at least 3 Tsunami’s, one of my specialized Trade Alerts – which I anticipate profits exceeding 400 pips. Time will tell but we will look for the best opportunities the next few weeks.



I may author a Forecast later but right now the chaos is mixed. If you desire more information about my exclusive Market Timing Trade Alert Program - please feel free to access the links below.

Written by Britt Maras on July 9, 2009 – 9:08 am -


Britt Maras shares his view on Risk Management and Pro Pip Talk



In today’s market environment risk management is even more important than at any time in history. All of us get bombarded with the new bust-out robot or service which blows the doors out. They read fascinating blogs about how many hundreds of pips were booked in just a few hours and how last quarter thousands of pips were earned with some top-secret forex robot program.



Just the facts Mam! How many currency pairs can a single trader carry open at any one point when following professional risk management rules? One? Three? Five?



They can trade as many as they want and open as many positions as they want as long as they follow typically respected professional ratios like never exposing more than 3% - 5% of your equity in any single/total risk event. That said, where does that leave you?



I was acquainted with a fellow who would send a message and say I just made 1500 pips last week. I’d laugh and say “Oh really, I must have missed that trade.” He’d say, “It was right in front of your eyes stupid!” Okay. Then I’d ask him how many “pips per lot did you make per trade entry/exit/pair”….. He’d say huh? I said again, “how many pips per lot did you make and what pair was it on”?



Of course the fun was just starting….. Then I’d get the earful again from him about how I should expand my horizons and trade more than just say, the eur/usd or the gbp/usd. When he’d get to that, I’d interrupt and ask him, “Should I trade them both at one time?” He’d exclaim, “huh”?



Then I would ask him “how many dog’s are in the lineup at a particular dog track race?” Then of course he’d say “okay Maras, enough already”……..



Is anybody catching on just yet? Let me explain:



If the U.S. Dollar is rising, that can be seen in a few different pairings. If the Sterling is rising, that too can be seen and of course if the Euro is rising - certainly that can be seen in different pairs. Each sovereign currency has its primary relationship to the Dollar then of course it has its own cross pairs. One note on cross pairs, in my opinion, they could be riskier unless you have the “delta” of sovereign interest rates matched in an extremely skewed ratio. For instance, when the Bank of England had a benchmark rate at 5.00 and the Bank of Japan had a benchmark rate at .50 - then indeed the cross currency had a delta worth risking. As seen lately in the FCM’s ‘rollover interest’, now down to pennies, one can clearly see there is not much delta in any pair!



In today’s environment, cross trading might be a greater risk than trading the base pair against the Dollar. So, now back to my friend……



He was the king of trading the Dollar in 4 different places at once……….Get that, eh? He was a real rocket scientist! I’d ask him…….”If you go to the dog track and you have 4 dogs with basically the same odds, will you bet on all four?” (This is when it got fun…)



He’d say, “Well, sure, if I like them all!” (LOL……me laughing, stop already, my tummy hurts!)



Then, I’d ask him, “well, how do you decide how much to put on each one if the odds are pretty much the same (the Dollar will rise or fall, basically) and how much are you willing to bet?”



Then, that’s when he’d say….”Well Maras, obviously I can only bet so much and if I want to bet all 13 races I have to calculate how much I need for the night”……..



Okay folks, back to the point!



The U.S. Dollar makes the world go’round. It is best seen and traded with unanimous popularity in the eur/usd pairing due to daily majority of transaction in the market: Usually near half of the daily market. Surely I want to trade the pair that is likely to gather the most participation versus trading a pair that might only gather 5% of today’s market participation. The more, the merrier! The fewer players in the crowd the deeper the chance to get hit!



So, let’s get back to pip counts and the reality and see just how many pips per lot can be made trading 3-5% margin of equity, per event, per entry, per currency in any one day or month.



In my example, I am going to use one pair, the eur/usd and since my Trade Alert call profile is about 2.3:1 (profit to loss) and better, and since my average stop loss is under 30 pips and my average loss of equity when hit is usually 2.5% or less of equity; let’s take a $5,000.00 account for example:



I would consider trading 3-5 mini lots per ANY SINGLE TRADE event as I cannot possibly bet on more than ONE dog at once if I am going to cap my margin at 5% with 5 lots on the eur/usd.



Now, let’s say the trade earns 50 pips profit on 5 mini lots, which equals $250.00. My gain in terms of pip count is 50 pips per lot profit, NOT 250 pips!



Let’s get back to my old acquaintance, whom of course is broke now and left Forex about a year ago. He much rather does one of two things: He would enjoy making sure he could nail down 750 pips earning just 50 pips on the trade BUT, trading all 3 currencies

(3 currencies X $250.00 earned = $750.00 mini PIPS profit)…. Huh?



Yes, you see….. He had a choice to make. Does he run 5 mini lots on each of three currencies (15% margin against equity - a REAL black-eye NO-NO) or does he run just 2 mini lots on all three for about the proper exposure I described above?



In either case, the pips profit IS STILL only 50 pips per lot! If he traded all three and capped at 5% margin, then he STILL only made 50 pips per lot and he still only made $250.00. But no…..for some….to them that means they made 150 pips because they did three currencies (50 pips per currency) BUT MAY NOT acknowledge they RAN just 1.5% per trade versus 5% on one trade!! Get it now?



If someone claims they made 300 pips but had to run 1.5% margin on two currencies instead of 3% margin on one currency and they each moved the same amount, the reality is the net profit in dollars is still the same but talking about making 300 pips sounds a heck of a lot better than making JUST 150 pips!!



How many candy apples can you eat at the same time?



You can make the same $250.00 on one dog versus three dogs or you can triple your exposure and risk triple and win triple BUT that is absolutely POOR and undesirable RISK! The point is, ON the event itself with professional management standards, trading the dollar, there was ONLY 50 pips gained on the move, NOT 150 because you traded three pairs.



The next time you make a decision about entertaining the results of any robot signal service ask yourself a few things: Is the service risk balanced or is the service reporting that they traded more than one pair on mostly similar events for a total gross pip count that is really no different than trading one pair with the same level of risk BUT not split up over 5 events. Inflation is SURELY not a good thing, in any business! An overinflated tire usually bursts, or goes flat. Keep kicking the tires - but kick ‘em in the right place!!



Lastly — we at FTD focus on risk management amongst the different style of traders in house here. Some of us may have HUGE pip counts and some smaller but the net gains may be similar when the trade events might be relative. My particular expertise is with intra-session trades that yield solid pips per lot on single maturity events that focus on one event, one entry and an exit. Thanks for being here

Written by Britt Maras on July 10, 2009 – 7:57 am -


Timing the Markets Trade Room offers Small Profit on GBP/USD Sell Signal



Currently we are in stand-down mode as the eur/usd appears oversold and the Cable (GBP/USD) is either in stall mode on the bear front with deeper targets at 1.6113 or it is setting up for a classic Friday stall or, it is forming a basic bull pattern to test 1.6260 -93, 1.6321-59 or up towards 1.6450.



I think we will move our focus to the EUR/USD for now or we may attempt a ‘half-margin’ bear breakout trade if it reloads. This being Friday, could be best to walk away soon as our Trading Room can settle on about net 7% profit on equity for in the week for what was sort of a slow week. We missed an overnight trade on Wednesday for about 70 additional pips – but that’s okay!

Written by Britt Maras on July 12, 2009 – 5:23 pm -


EUR/USD Faces One More Round of Seven Week Old Consolidation



Currently the U.S. Dollar Index has been contained in a very harmonic price action pattern. Its structural formation is much cleaner than any currency pair amongst the top five. If the 80.70 level does not reject on a 1 hour candle (currently 80.24) then indeed the US Dollar is in for a multi-week bullish pattern which is likely to show very aggressively in the EUR/USD and GBP/USDS. The Index is perched on support immediately at 84.20 with key but critical support at 79.50 in view.



I would prefer to see the EUR/USD and GBP/USD make one more blush at higher resistance before developing a potentially aggressive bear pattern. The EUR/USD game is a 3980/3900 yardstick and then we should have a verdict.



Resistances: immediate at 1.3957-77, 1.3997, 1.4008, 4037-55, 1.4079, 1.4103-4149, 1.4200 and then 1.4300



Supports: immediate at 1.3928-14/07, 1.3883-64, 3853, 1.3780, 1.3743, 1.3670 and then 1.3349



We have Forex Market Timing Alerts for price action on:



Monday July 13th 12:40 a.m. – 1:15 a.m. for 3.5 hours duration moderate price action



Monday July 13th 5:50 a.m. - 6:25 a.m. for 2.75 hours with moderate price action



Please feel free to make questions or comments or review the links below:



Meet Forex Trader Britt Maras



Get my Free Forex Signals



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Britt Maras – Senior Currency Strategist