I was recently asked by a trader who said he’s been trading for about a year now about taking his trading to the next level. He said he found a system that suits his personality and that although he’s made a few mistakes, he’s been able to be profitable for the past three months with a 5%-10% monthly rate of return. As I’m sure you realize, three months isn’t that long and nobody can tell the future. He wanted to know about maintaining his performance and moving up to the next rung on the latter, wondering about the comparison …Continue Reading
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Not everybody can – or would want to – sit in front of a computer all day, so it’s nice to be able to subscribe to a Forex Signal Service and get emails or text messages when trading opportunities arise. For example, here’s a message I got last week from the SpotEuro Signal Service. It came about an hour before the Australian Consumer Price Index announcement with a specific direction on the AUD/USD.
I took the short position around 7:30 that night and despite the temptation to reverse myself when things went a little bit the other way, I let …Continue Reading
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This Friday we’re pleased as punch to be able to host professional trader Alex Kazmarck of SpotEuro for another live Forex trading webinar as the January Non-Farm Payrolls number is announced. This key economic indicator has global implications on the exchange rate of the USD with any other currency. We’ll start at 8am ET and Alex will give some background info, and then at 8:30, when the number is announced, we’ll watch as Alex trades live based on his strategy and experience. We hope you can join us!
Friday, February 5, at 8:00am ET: Trading the Non-Farm Payrolls Data Live …Continue Reading
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In response to demand of traders we’ve just implemented connectivity between Currensee and Twitter allowing traders to automatically Tweet their positions. The way the service works is that once you link your Twitter account you can chose which one of your brokers accounts you’d like to Tweet and we are automatically Tweeting on your behalf whenever you open or close a position. Since Currensee is the only platform that is connected in real time to more than 50 brokers the moment you execute the order we would Tweet on your behalf in real time. For those who are running …Continue Reading
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One of the things that I’ve noticed of late on the “Hot Topic” discussion board on Currensee is the passion and enthusiasm that members of Currensee have towards trading foreign exchange. That is fantastic. To hear people discuss anything with passion, besides sports, now-a-days can be hard to come by.
There are obvious reasons for this as well. Greece, Spain, Italy and others are making headlines because of their budget woes. The unemployment rate for the youth in Spain is 40%! There are just too few young and old people utilizing a craft or a skill out there ‘pounding the …Continue Reading
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Last week’s comment circled around the outlook for the Dollar and saw how various macro events were negative for Canada, Australia and the Euro, whilst being positive for the Dollar and Yen. Pretty much all of this has panned out so far, but what was the key point last week and what is the focus for the coming week? For me, the highlight was the minutes from the FOMC (Federal Open Market Committee) meeting, where inexplicably all reference to the woes of the housing market were completely removed. This, in a week when the stats from Case Shiller Home …Continue Reading
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Forex analyst Tim Mazanec posted yesterday on Forex Crunch about risk and reversal in the EUR/USD. Starting with a dip into commodities (sugar??), Tim quickly moves on to the heart of the matter:
“To me EURUSD is the ultimate gauge of global risk-taking and if stocks are reversing then shouldn’t EURUSD be trading lower as well?”
He points out that the COT (Commitment of Traders) report, while extremely valuable, is also delayed by three days, an eternity in spot Forex. Mazanec shows us how to use Currensee’s Market Watch widget so see investor positioning in real time.
“The beauty of Currensee is …Continue Reading
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We are trying something new this week. We know that every Forex trader has questions. From macroeconomic trends to trading strategies to managing risk, Forex trading can be overwhelming at times. That is why we are here to help.
Starting this week, Forex traders can post their questions to our Facebook Fan Page and Currensee’s own Chief Market Analyst, Shaun Downey, will answer them for you via a video response. We will be doing these Question & Answer sessions on a weekly basis, so anytime you think of a question, be sure to post it to our Facebook Fan Page.
Have questions? Post your questions now…
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In the fast-paced world of Forex trading, information is everything, and timely information is, well, even more than everything, if that’s possible. We’ve been burning the midnight light sweet crude at Currensee towers to bring some free educational webinars to market, and they’re filling up fast, so sign up soon:
The Five Fundamentals of Forex with Jason Alan Jankovsky
Wednesday, January 27, 2010 11:00 AM – 12:00 PM New York Time (8:00 AM San Francisco, 5 PM Brussels)
Everybody knows that focus is a critical factor in trading success, but not everybody knows just what to focus on, especially when starting …Continue Reading
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A fairly momentous week all round as a series of macro economic and political news hit the wires and created turmoil in Equity markets. Basically there were three stories.
1. China cooling down it economy by instructing banks to shut down lending.
2. Governments declaring pay back time on banks with a variety of policy suggestions.
3. Widening of Credit Default Swaps.
All three combined throughout the week to hit various sectors of the equity markets and cause a sharp selloff. Analysis of the S&P shows that only small further falls will see the whole of the rally from November taken out. 80% …Continue Reading
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