Well we could have told you that, but we’re glad others are catching on. We just got word Lead411 has named us Boston’s fastest growing financial services companies. Our Forex trading social network was hand-selected based on its revenue growth, funding and website traffic. To toot our own horn a bit, Lead411 looked at 1,250+ companies and chose Currensee as the one to watch.
All the Pips here at Currensee World Headquarters in Boston are excited about the work we do every day, and thrilled to see others taking notice. It’s been a busy last few months – from announcing our Series B funding, to introducing the new features like Tweet My Trades™ and the Currensee Trader Leaderboard™ – and we still have more surprises and features up our sleeves. The thumbs-up from Lead411 is a huge pat on the back, and we’ll try to not let it go to our heads (we said try).
Want to be friends with the latest “hottest gig in town”? Like us, follow us, watch us and don’t miss a thing from the best thing since sliced bread first Forex trading social 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.
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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. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, volatility or other market conditions.
Some people learn by reading books, some by doing, and some by watching or listening. This Thursday, Currensee is presenting another opportunity to learn from a Forex pro by watching and listening to live trading. We’re thrilled to welcome Willie Guevara of YourTradingRoom and the 4XLosAngeles group on Thursday, May 13 at 8:30am New York time for a session called “Momentum Trading Live with Willie Guevara“ It’s $9.95 but there’s a hefty discount for blog readers on that link, and Currensee members can get in free – the link is posted in the community.
I met Willie not too long ago when I presented Currensee to his 4XLA group, and I can attest the he’s a good guy and a great presenter.. In this webinar he’ll show us his breakout strategy and illuminate ways in which the London session is different from the others. And as usual, all registrants will get an exclusive special deal on a YourTradingRoom product via the Currensee marketplace. We hope to see you there!
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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.
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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. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, volatility or other market conditions.
The greatest joy that a trader can experience is buying low and selling high. Selling at the highest valuation point possible before the security reverses would be the ultimate joy (in case of a long position). How often does this really happen though? Hmm, even professional traders would have a hard time claiming that they can do this often. More often than not the security is probably going to continue to move higher, but the desire to take profit (TP) on a trade forces the trader to close their position.
There is certainly no shame in taking profit on any trade. The key here is learning why the security continued to move higher and what impulse had you close your trade early.
Let’s move to the flip side. How often have you bought a security at a low valuation price and watched that security continue to slide lower? To some investors this is now a ‘long-term investment’ but for traders this is not a good trait to have as your trading balance may soon disappear.
Point being, do you take-profit on your trades too early and hold on to your losing trades too long? If so please note that you are far from alone, you are probably in a massive trading group that wants to excel yet just hasn’t’ done so.
I bring this up for two reasons. First on Currensee I was viewing the Community trading statistics, which can be found under the Profile section on Currensee. The ‘Win %’ for the entire Community is over 62%. That is exceptional; especially considering that the total closed trades is in excess of over 200k so we’re dealing with a significant sample size. Yet the accumulated returns are lagging and the ‘% days losing’ is at 64%. There appears to be quite a few impulses to TP on a trade and not let it run to its maximum potential. Given the increased volatility in today’s markets this is worth rectifying as soon as possible.
This Friday there is a trading webinar being presented by SpotEuro and Currensee that is open to both members (free) and non-members ($9.95) of Currensee at very affordable rates. Alex Kazmarck of SpotEuro will be discussing the price action that is taking place around the US Payroll report. He brings over 10 years of market analysis experience and one of his goals is to help develop novice traders. You can sign up here at half price.
Whether you trade the Euro, S&Ps or Gold all markets are intertwined in one way or another and if this webinar can help you understand the NFP price action then you may be one stop closer to maximizing your gains. Right now the consensus forecast for the US NFP is +177k which continues the overall trend of an improving labor market. Many uncertainties do remain for this report though. Initial jobless claims surged at the beginning of April and were 460k, 480k, 459k and 448k respectively for the month. Thus how certain will the markets be for a +177k figure? Usually the less certainty the more volatility.
Let’s not forget that Canada awaits its Employment report, Japan will also have just returned from their Golden Week and Australia, Germany and the UK will be looking forward to important economic releases as well.
These markets are moving; make the most of your trading. Maximize your winners and minimize your losers.
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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.
This report is for your information only and does not constitute investment or business advice or an offer to buy or sell securities.
Some weeks everything seems to go your way. It’s true in Forex trading, and it’s true in building the first Forex trading social network. This week at Currensee towers, we’ve been ringing the bell big-time. On Tuesday, we announced our $8M B round of venture financing and the news got picked up all over the media, on Wednesday, our CEO Dave Lemont was on Bloomberg TV, on Thursday we had the biggest daily influx of members in our history, and today we held a webinar with Fox and CNBC guest analyst Bob Iaccino.
Check out our clip from Bloomberg TV’s InsideTrack show with Sara Eisen.
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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.
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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. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, volatility or other market conditions.
Six months later – and six months is a long time in startup years – we’re back at it again, this time at the International Traders Expo in New York’s Times Square (the most Vegasy part of New York) We left the spokesmodels at home and spent the raffle money on rum & diet coke chocolate babka, but we got a lot more attention. People came to our booth already knowing about us or at least having heard about us.
I’m sure I’m missing somebody but here are shout-outs to some new and old friends we met up with: Jamie Coleman of FXLive, Maud Gilson from FXStreet, author Curtis Faith, David Kaplan from FXCM, Marilyn McDonald from IBFX, Betsy Waters from DBFX, Currensee member Brian Johnson from FXIntel, Elissa Fulop from Gain Capital, Ryan Sindelar from NinjaTrader, Currensee member Clair Wyant from IntegraFX, Todd Hanson from Live Trade Signals, Markus Heitkoetter from Rockwell Trading, and our new bestest drinking buddy, Matt Vann from MediaCougar. Don’t worry Matt, those pictures are totally not on our company intranet.
We gave away hundreds of Trade Leader superheros and talked up the Trade Leader program with novices and experts alike.
What seemed like a slightly wacky idea in Vegas – a social network for Forex traders? Traders willingly sharing information?? - was natural and normal in New York. And New York is a much more skeptical town. In fact, people with background in other asset classes seemed to be flocking to the Forex scene. As much as we’d like to, Currensee probably can’t take much credit for an uptick in interest in Forex, but we welcome it and we think we can help make Forex more welcoming to newcomers and more interesting for old-timers.
So where will Currensee be in another six months? I haven’t checked the tradeshow schedule, but I bet we’ll be in a lot more different places than we are today. There’s some good news I can’t talk about yet coming out next week, and lots of growing excitement about both the Forex trading social network and the Trade Leader program, too. Happy trading, everybody!
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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.
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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. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, volatility or other market conditions.
I have to say that I wish I was trading foreign exchange a bit more than I am at the moment. Actually make that a ton more than I am at the moment. These markets are moving and whether you or trading the AUD, CAD or the Yen we’re seeing enough significant moves to get traders excited and hopefully enjoying profitable trades.
One of the beauties of trading forex instead of say equities is that you shouldn’t be concerned on the direction of the moves either. If you are Long USDCAD this may not be hedging or offsetting other trades. In trading equities you may short the SPX but you are likely to be Long equities elsewhere in your portfolio. Liquidity, tight spreads and 24 hour market access are other good reasons to be involved in forex trading.
On Currensee you can see the positions of both the Community and your team members. My team members have over 100 positions on as I write. That is a nice tidy sum and many of those are with a bit of leverage of well. I’ll have a trade on as well the next time I receive a signal from my intra-day model but last week we missed some opportunities when my Expert Advisor failed to generate signals.
As we all know using Expert Advisors has become common place for individuals trading currency. If you can build a strategy and have your code written properly then you have a mighty convenient tool. It seems that we are all lacking time now-a-days and these EA’s seemingly allow you to do two things at once. Unfortunately for yours truly having that code written properly has become a stumbling block. We’re now reaching out to other experts and will hopefully have this rectified in the not too distant future.
Back to the trading environment, one look at the economic calendar, listed on the Research Dashboard on Currensee, shows a far less crowded calendar of events this week. A CGPI (PPI) figure out of Japan, US retail sales and GDP figures out of the Eurozone don’t exactly measure up to the direction that can be provided from NFP, ECB and G7 meetings. This should be viewed as a positive item for traders with winning strategies right now. There will be fewer speed-bumps to derail those trades that have been put on.
This should keep the focus on sovereign debt concerns, benign global interest rates and other hot items impacting markets right now. Following these items is easy enough using the Feeds widget on Currensee. This provides various top economic headlines from around the globe from multiple news organizations. Among the headlines that are Feeding as I write are stories on the Toyota recall, Chinese economic growth and Trichet’s visit to Sydney. More than a few items that traders may want to pay attention this week. Thus if you are looking for trader positioning, economic news releases or live news feeds the place to be is 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.
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 business via Twitter we’ve also added the ability to Tweet only when positions are closed and thus attract customers.
One great service that can be along side with Currensee’s functionality is StockTwits and since we see the great value for our traders delivering the transparency we strive to into StockTwits we’ve implemented our Tweets using the same format that will be picked by StockTwits allowing traders for the first time to really Tweet what they do in their live accounts.
Currensee members who link their Twitter account are also going to be awarded 5 Currensee Bucks.
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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.
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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. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, volatility or other market conditions.
The January issue of e-Forex magazine landed on our desks with a satisfying thud last week, and we’re just getting around to reading this article “Social networking helping to get retail FX traders together” in which Heather McLean interviews our own CEO Dave Lemont among others. In case you’re not a subscriber to e-Forex magazine, we’ve pulled a few choice quotes.
The article opens with a quote by Kellie Durazo of FX V-room, “I think there’s always been a desire within forex trading for a community, for a place where you can learn trading techniques, share information with fellow traders andlearn about what’s happening in the industry.” We couldn’t have said it better ourselves.
There’s a lot of good discussion of both sponsored and independent communities, including this quote by Dave:
The forums, such as Forex Factory and FX Street, provide information and education, but it’s difficult for a trader to know who to trust. Currensee provides transparency; traders can see the real trades, performance and strategies of other traders, connect with traders with similar trade strategies and learn new ideas through collaboration. Traders want to understand what makes one trader more succesful than another. This learning can only be discovered through collaboration via real trades and performance data.
It goes without saying that the Currensee team believes strongly in the power of collaboration and transparency – that’s why we built Currensee and our ground-breaking Forex social indicators. We hope that more and more Forex traders take advantage of the plethora of social tools to reach out and engage with the community. The more we interact, the more we can learn to become better traders. Thanks to the team at e-Forex for devoting some ink to this topic.
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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.
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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. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, volatility or other market conditions.
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.
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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. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, volatility or other market conditions.
TechCrunch reported today about an interesting new iPhone app they came across in the App Store. It’s an official app made by the National Association of Securities Dealers Automated Quotations (NASDAQ), the American stock exchange. In the words of TechCrunch writer, MG Siegler, “That itself is interesting, but perhaps even more interesting is a key functionality of the app is to highlight tweets about various NASDAQ stocks.”
The app is called NASDAQ Portfolio Manager and, according to TechCrunch, it’s pretty slick. In addition to providing all the real-time quotes and data you’d expect, it also has some pretty cool charting features and, IMHO, the most interesting part of the whole app is that it has a special view that integrates all the latest tweets about that stock, coming in from StockTwits. If you don’t know about StockTwits and you’re a Forex trader, you need to check it out. The service is organized in “streams” and they recently launched a Forex stream, where you can see all the latest Forex tweets. A Forex tweet is denoted with $Currency pair (i.e. $USDJPY), and what’s even cooler is that you can sort the Forex stream by pair. Say you’re only interested in tweets about USD/JPY, click on the pair and just see that stream. We use StockTwits with our @Currensee Twitter stream to connect with influential Forex traders from around the world. Many new Currensee members find us on Twitter and connect with other Twitter members on Currensee.
This new NASDAQ app shows the innovation that comes when you blend social data with traditional data. The ability to look at a chart and a price and blend that with what other people are doing right now provides unique new insights and gives traders new decision-making tools. It’s reinforcing to see an institution like NASDAQ push the limits on data. I’m happy to be in such good company. :)
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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.
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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. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, volatility or other market conditions.
Currensee is the first social network for forex traders. We bring Forex traders from around the world together to make trading decisions in real time using live trading data.
Free Forex Ebook
Get your free copy of the latest Currensee ebook: The Smarties' Guide to Alternative Investing in the Foreign Exchange Market by John Forman. This informative guide gets you up to speed on the ins and outs of the world's largest market and is yours free. It's time to put the foreign exchange (Forex) market to work for your investment portfolio, just click on the book!
I met Willie not too long ago when I presented Currensee to his 4XLA group, and I can attest the he’s a good guy and a great presenter.. In this webinar he’ll show us his breakout strategy and illuminate ways in which the London session is different from the others. And as usual, all registrants will get an exclusive special deal on a YourTradingRoom product via the Currensee marketplace. 
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