As you may have read in the press release, Currensee is one of the charter members of IBcoalition.org, a group of independent Introducing Brokers united to fight a proposed rule change by the CFTC that threatens our businesses and our ability to serve our customers. As CEO Dave Lemont and Co-Founder Asaf Yigal have blogged before, Currensee opposes proposed CFTC regulations that would reduce Forex leverage to 10:1 and force Introducing Brokers (IBs) to align themselves with just one Forex broker. IBcoalition.org is focused on the latter issue:
The IB Coalition recently submitted a 10-page letter to the CFTC and, …Continue Reading
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The team here at Currensee towers was pleased to see John Forman from Thomson Reuters IFR Markets writing on DailyForex this morning about yesterday’s Currensee blog post by Tim Mazanec. Both wrote about volatility in the Forex market. Tim was seeking a way to find a currency pair ready to break out of a narrow range, and he looked to the Community Historical Volatility widget for some clues. John added some thoughts – and some charts – on using Bollinger Bands and Average True Range (ATR) to spot developing trades.
A look at the Historical Volatility widget for NZD/USD shows …Continue Reading
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A new trading week has begun and some great questions are being asked on the ‘Hot Topics’ discussion board on Currensee. Many of the questions allude to ‘ok, US Payroll gave a lift to risk-taking with the Yen being sold off and equities surging on Friday, but what will be the next big move and which currency pair should be traded’. This isn’t just currency traders too as one look at the sideways trade in equities on Monday shows that traders in multiple markets are asking that similar questions.
One thing I did on Monday to try and …Continue Reading
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There is a sense of déjà vu with regard to Payroll this month as exactly the same arguments that I posted last month are true again this. Both the ISM Manufacturing and Non Manufacturing employment numbers were extremely strong, posting even larger gains that the previous all time best levels since 2004 and 2008. Yet, once again this failed to feed through into the Payroll data. This time the widely touted excuse is the poor weather, especially in the North East. For me, this seems a weak argument as I thought only the British economy came to a standstill …Continue Reading
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This is the first in an occasional series of posts featuring the best and the worst in Forex services, services that would help you as a trader or just make it more fun and services that would waste your time. Got a nominee? Drop us a line!
This month’s best service award goes to Olsen Scale.
Olsen Scale was developed by Richard Olsen, the founder of OANDA, is a nice way to look at the global market at a glance and provide a high level view of which currencies are currently in an unstable situation – “Similar to the Richter scale …Continue Reading
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It seems like some of the House Agriculture farm commodities subcommittee including Collin Peterson and Jim Marshall have grilled Gary Gensler, CFTC commissioner regarding the 10:1 leverage reduction. Here are some of the comments that were made to Gary:
“I don’t get what we are trying to accomplish here by lowering this to 10 to 1,” said House Agriculture Chairman Collin Peterson (D., Minn), saying the proposal appears to put investors’ money even more at risk. “Who are you trying to protect here?”
“If our leverage rules are 10-to-1 and leverage rules elsewhere are 100-to-1, the business is going to move …Continue Reading
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While the CFTC is recommending a reduction in the leverage allowed in Forex trading to just 10:1 – a rule change that we at Currensee strongly oppose – I’d like to suggest a more scientific approach as to how calculate the ideal leverage that should be offered in spot Forex. You can read all 50 pages of the CFTC’s proposed rule change in this PDF from their site and make up your own mind. See below for how to let the CFTC know what you think.
The main purpose of the leverage limit is to ensure that customer funds are …Continue Reading
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Today’s guest post is by Brien Wheeler, Currensee’s Director of Engineering. He’s too modest to say it, but he’s awesome and he needs more awesome people on his awesome team. So read his awesome blog post, and if you’re awesome too, read our awesome UI Engineer and Flex/AS/JS Developer job postings and send your awesome resume. Don’t delay, we’re interviewing now.
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I love building things. As a kid, I drove my parents crazy taking apart everything in the house to see how it worked. As I got older, I got better at putting things back together, but it …Continue Reading
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If you happen to be keeping a journal on foreign exchange and are about to label this past February you may only be using one word, Greece. Not many would argue with you either. It seemed that it was a ‘Greece this’ and ‘Greece that’ type of month. The correction in the Euro is because of Greece and any rebound was hope that a neighboring country would come to Greece’s rescue.
There were other events though including the FOMC’s discount rate hike which was followed a week later by Chairman Bernanke promise to have policy remain accommodative …Continue Reading
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I am happy to announce that we’re the first and only social network to have an agreement with OANDA to properly support their traders via direct and real-time API access. We’ve had overwhelming response from OANDA traders who want to join Currensee but couldn’t…until now.
Starting today, OANDA traders can join Currensee for free, link their real Forex trading accounts and enjoy all the benefits that we provide our traders – sharing real positions in real time with other community members, leveraging the strategies to create an electronic trading journal, tweeting trades in real time, using social indicators to make …Continue Reading
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