Author Bio

The CFTC has brought charges against a Northern California Forex money manager for committing fraud against his clients. The money manager claims he had never had a losing year, when his actual trading records revealed consistent losses year over year.  He also seems to have mysteriously misplaced a majority of customers’ deposits, taking a page out of the Bernie Madoff method of creative money management. You can read about it on Forex Magnates.

I hate to be self-serving here, but I must. If his clients required him to register on Currensee (as a free service, I might add), these customers would have seen his real results, including win/loss P&L, trade-by-trade recaps, etc. on a daily basis, along with a detailed comparison of his business against the other traders on the Currensee platform.

This charlatan would have been exposed and some of the $4.3 million might not have been lost.  It is time to demand transparency in Forex from all people that offer to manage your money!!

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results.

Author Bio

Remember last week when some guy made the news because the airline allegedly threw him off the plane because he was too fat to fit in a single coach seat?  Well, whichever side of that story you believe, it’s another clear example that one size does not fit all.  Sadly, they don’t make airplanes with a wide variety of different seats to fit different people, but online and in financial services, it’s a lot easier to give people choices and customize offerings.

At least it’s easier when the regulators let you do it.  The Commodities and Futures Trading Commission (CFTC), the government body that regulates the US Forex industry, is proposing a bunch of new rules that we at Currensee think are not good for retail traders or introducing brokers in this country.  On the other hand, if approved, these rules would probably be a boon to overseas Forex businesses as US traders take their business elsewhere.  That amounts to less choice and we don’t like it.

In short, the CFTC wants to reduce the maximum trading leverage to 10:1 and they want to force all Introducing Brokers (IBs) to associate themselves with one and only one broker.  Traders will lose the benefit of an IB helping them choose the best broker for their own needs.  A lot of people will end up sitting in the wrong size airline seats, if you know what I mean.

Don’t take our word for it.  Read the CFTC’s proposed rules, and if you don’t like them, tell the CFTC what you think.  Here’s a PDF of the rules change, and here’s how to contact the CFTC:

• Email your comments on this rule change to secretary@ftc.gov with the subject line “Regulation of Retail Forex” and the ID number RIN 3038-AC61 in the body of the message
• Fax them at (202) 418-5521
• Send paper mail to David Stawick, Secretary, Commodity Futures Trading Commission, 1155 21st Street NW, Washington, DC 20581

Note that all the comments the CFTC receives will be posted to their website, including any personal information you provide them.

The CFTC is part of the government, and they should be working for us, the people and businesses of this country.  We all have a voice and need to share it.

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results.

Author Bio

2009 has been an amazing year for Currensee and our community. We started the year with a handful of employees, a great vision, funding from our investment partner North Bridge and not much else. We’re entering 2010 with over 20 employees and over 2,000 members of our social trading network many of whom are logging into the platform every week and every day. Hundreds of our members have now made purchases in our new marketplace helping Currensee to continue the support and development of our free collaborative platform.

We’d like to thank you all for being part of what we celebrate as this year closes. From those early adopters who struggled through our first “dashboard” to those who have recently joined and quickly become part of our community – you are all part of our success. We’ve enjoyed speaking with you, listening to you, and integrating your suggestions along the way. We look at the Currensee site today, and although it largely looks like our original vision, we’re excited that it’s incorporated the vision of so many of you as well.

As we look forward to 2010 we’re excited report that we are just at the beginning! So many innovative new developments are in the works; from collaborative charting tools, to creating your own special interest groups inside of Currensee, to the ability to see who the top traders are and follow their trades.

Please keep sharing your feedback with us, telling us what you like, telling us what you’d like to see and helping us to spread the word about Currensee. We are steadfast to our vision to build the largest global social trading network where real traders can meet and collaborate on real trades.

Together we can continue to change the Forex trading world with transparency, authentic information and the fun of trading together!

Happy New Year!

Dave and the whole Currensee team

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results.

Author Bio

Today we announced Forex expert, author and mentor, Shaun Downey, is joining the Currensee trading social network team as our Chief Market Analyst. Shaun brings a wealth of Forex trading experience to us and our trader network and, in addition to being an active member on the Currensee platform including sharing his strategies, discussions and polls, he will be writing market commentaries, trend topics and blog posts to bring Currensee social analysis and data to the outside world.

If you haven’t read Shaun’s bio, it’s pretty impressive. He started trading at the age of 16, accomplished a litany of impressive positions with top-tier firms and shares my passion for boating, which I couldn’t appreciate more.

If you’re a member of Currensee, go ahead and send Shaun an invitation to be trading friends. Not a member of Currensee? What are you waiting for? Go ahead and join the Currensee trader network.

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results.

Author Bio

It’s another exciting step for us here at Currensee world headquarters in Boston. We announced our public beta last month and, at the same time, released the rewards program and Marketplace in private beta to members-only. We’ve been testing new features, products and services and gaining valuable feedback from our members and we’re now ready to let all of you Forex traders out there know about this rewarding, members-only program.

First off, we are giving back to our members in the form of Currensee Bucks. Think of it as our way to say “thank you” to our members. You can earn Bucks by referring friends, creating discussions and polls and participating in the Currensee trader network. You can also earn recurring Bucks by making Currensee your Introducing Broker and receiving Bucks every time you trade. Now that’s a gift that keeps on giving. The great thing about Currensee Bucks is that you can use them right away to purchase a variety of great Forex products and services in the Currensee Marketplace.

Now, let me tell you a bit about the Currensee Marketplace. I’ve heard from traders on a pretty regular basis that they want a trusted source for Forex products and services. They ask me and other members for recommendations on education, training and are looking for reputable people to buy from. We built the Marketplace to meet this need. Think of it as the one place you can go for unique products and services, discounted pricing and, above all, trustworthy experts in the industry who have great products to sell. Even better, you can use your earned Bucks to buy everything from a trading set-ups newsletter to one-on-one coaching.

As a special promotion for our launch, we are offering any traders who join today through November 30, 2009, 30 Bonus Bucks when they join. You can use your Bonus Bucks to buy a variety of products in the Marketplace – our gift to you for joining the Currensee trader network. Tell your friends and get an additional 25 Bucks when they join! Here’s the link to the special promotion: www.currensee.com/bonusbucks.

We’ll be adding a steady stream of new products and services to the Marketplace. Have ideas or suggestions? Would love to hear from you.

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results.

Author Bio

There has been much discussion in forums lately suggesting that Currensee should support demo accounts and we certainly understand why people are asking for this.  Let me explain why we do not have any short-term plans to do this.

First off, we recognize the value of demo accounts as a valuable tool for learning, experimentation and for testing trading systems and new approaches.  However there is nothing like real trading.  When real money is on the line, what people may really be willing to do may be quite different.  This is one reason why I personally would never take seriously the performance of a trading system that has no real performance, just back-tested performance in a demo account.  You cannot assume that the leverage used or the distance on the stops would reflect the level of drawdown that the trader would be willing to take with his or her real money.

On the other hand we truly want to keep Currensee about real-time trade collaboration.  This is a guiding principle of our Forex Social Trading Network. And today the best way to ensure this is to make sure that our members have real trading accounts and the trades they are sharing are real trades.  This creates a very powerful social dynamic that cannot exist in traditional forums and chat rooms.  As a trader in Currensee when I make a suggestion to the community that there is an opportunity to go long on the GDP/JPY and I never make the trade then I lose social credibility in the community.  But when I do make that trade – whether I win or lose – my trading friends can rely on the fact that I truly believe with my wallet that this is a valid trading idea.  And when I close my position my trading friends can rely on the fact that I believe that my winnings are sufficient or I cannot tolerate any more loss.  Additionally, our social indicators are based on the actual real trading activity of the Currensee community.  These indicators are growing more interesting by the day as the community grows rapidly, and we want to ensure that our members know that the social indicators are based entirely on real trades.

So if you do have a demo account, we suggest you take your time to prepare yourself for real trading and when you are ready just open your real account and securely link it to Currensee.  Our network is ready to welcome you!

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Be sure to read the full risk disclosure before trading Forex.  Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results.

Author Bio

Ring the bell…The Currensee trader network is open for all Forex traders to join!

Today, we announced that our Currensee trader network – the first-ever Forex trading social network – is open to the public. For those of you who have been following our journey, you know that we spent eight months in our invitation-only private beta stage. Here in startup land, eight months seems to fly by more like eight weeks, especially when you are building the types of technology and collaboration features that take mere mortals years to build.

As I thought back to where we started, it seems like forever-ago that we invited 25 brave beta testers to try out our new idea for a trader social network. Our founders, Asaf and Avi, had a strong vision – they wanted to build a place where Forex traders could collaborate based on real trades and real data – but it’s hard to cook up a social network with only 25 people.  So we started inviting more, a few hand-picked Forex traders at a time.  And we started adding features and tuning our performance and analytics. We were lucky to have loyal and vocal members who spoke up when things weren’t working they way they expected or when they had a feature idea or suggestion they wanted to share. The product became more and more robust and more and more traders starting requesting invitations.

The Currensee team kept cranking out new features, programs, promotions, controversial videos and other Forex trader goodies. And, in just eight months, things are very different than they were on that chilly day back in February.  We have almost a thousand people trading together. We have an innovative product that combines the fun of a social network with the unique insights of strategies, performance and sentiment data…all based on the trader network. We started with members from two countries and supporting two brokers. In just eight short months, we have members from over 64 countries and support close to 40 brokers.

On behalf of the Currensee team, I want to thank all of our private beta members that joined before there was even a real product. We could not have come this far so quickly without your help and dedication to making Currensee a special place for Forex traders.

Today we leave the invitation-only private beta behind us and throw the doors open to the world.  We invite you to join our unique trader network and see for yourself what makes Currensee the place to trade together.

When my friends ask me about what makes Currensee so great, I always talk about the open collaboration we bring to the world of Forex. That we’re changing the game by giving all types of Forex traders the ability to connect with one another, see live trades and positions and share strategies, ideas, victories and their losses. We call it transparency and Trading Together is how we make it happen.

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Be sure to read the full risk disclosure before trading Forex.  Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results.

Author Bio

When I would catch my kids in a little white lie like when they borrowed the car without telling me or they stayed out all night and didn’t call, they simply told me that if they had told me the truth I would have said NO!  I really wish I had had the choice…

That is a little bit how I feel when I see the “back tested” in a demo account Forex trading systems I see all over the Internet.  Maybe I am a sucker but when there is a beautiful girl on twitter telling me I can make 1000 a pips a day why do I keep clicking through?  Maybe I am hoping for some transparency – some real honest indication of performance metrics that are real and authentic. So in the interest of transparency Currensee style, here is a chart direct from the Currensee platform that shows my actual performance by Currensee pair over the last month.

What does this chart tell you other than the fact that I should stick to my day job of running social Forex trading networks?  It tells you is that if you are going to buy a trading system or have someone trade for you, or accept anyone’s advice look for charts like this and others like this can be backed up with REAL live trading data from real live trading accounts.  That’s transparency, not the old Forex sleight of hand!

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Be sure to read the full risk disclosure before trading Forex.  Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results.

Author Bio

I wish I had the time to go to my local fishmonger for my Dover sole and the baker for my fresh baguette for dinner this evening.  Instead I need to go to the supermarket and some weeks I have it all delivered so that I can get everything I need for a whole week from one place.  Think of the Currensee dashboards in the same light.  There are three dashboards – one for trading, one for research and one for fun and community. It is one stop shopping for the information, analysis, and real time trade information needed to make the most informed trading decisions every trading day.

The trading dashboard hold all of the key information that Currensee provides to make your trade decisions – your position table that contains all of the detailed trading information of your mates’ trades and the social indicators and price charts that tell you what the rest of the community and the market is doing in real time as well as a friends feeds that is a minute by minute update of trades and posts being made by your friends in the community.

The research dashboard holds all the key financial information in one place so that you do not have to go the baker’s website to learn about what’s heating up on the Euro. News is available from your favorite sources like CNN, the BBC, Reuters, etc., various charts on the correlations you may be interested in on the S&P, gold or other commodities.  RSS feeds of the best commentary you like to read from the most insightful websites right there at  your fingertips

To customize each of these dashboards you can simply pick from  the extensive widget library which is growing all the time to pick and choose and drag and drop to a location on your dashboard that makes the most concise and useful presentation for your daily trading analysis.  And when it is time for a break, the fun and community dashboard has a link to your popular IM tools, Skype for quick conversation with your friends about your positions, or a link to your Facebook page to catch up on all your buddies that are missing out on all the fun of trading on Currensee.

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Be sure to read the full risk disclosure before trading Forex.  Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results.

Author Bio

Remember the old saying “tis better to give than to receive?”  This is the entire basis for how Currensee works.  Strangely, it is a beautiful thing. We are completely dependent on traders sharing their real trades, strategies, and even their performance.  I guess we run into a person now and then who says, “Why should I share? What am I going to get out of this ?” (I guess those traders have figured out how to make money on their own – LOL) but the vast majority of our community just gives and gives and gives.  And they  get quite a bit back.  The more friends they make, the more trading ideas they see in their position table.

All the details –  the pair, entry position, entry time, margin used, stop loss, take profit, the strategy behind the trade and any charts that back up the trade and even if the position is winning or losing. This picture shows only half the information that’s available in the live platform.

The magic is that the more people you invite to share your trading information, the more trades you see and the more people you can collaborate with.  Because if any of these positions change you are immediately notified and that is pretty handy when you have opened a similar position and you are away from your trading platform.  You can talk to the trader you re sharing with via chat or Skype and really work as a team to determine if it’s time to get out or holding on is the right thing to do.

So why are hundreds of traders sharing like this?  Is it because the service is free or we found all the good people in Forex….or is it because we are all social animals?  We need to express ourselves and connect with one another and what better way than thorough a common interest, whether it’s the way we supplement our income or make a  living or with something we just love to do.  So if someone asks you why would you share your trades on Currensee….just smile and ask them what they would like for Christmas or Hanukkah, or Kwanzaa….

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Be sure to read the full risk disclosure before trading Forex.  Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results.