Author Bio

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 must have been very hard on my parents in the earlier years.

When I discovered computers and programming, I realized there were entire worlds waiting to be built. Software is a blank slate, and the sky is literally the limit. Unlike working with physical tools and toys such as an Erector set, programmers are only limited by their imaginations and the current state of technology, especially for interacting with people.

Programmers can create games, personal productivity tools, scientific simulations, virtual worlds, or anything else someone needs or wants. Of course, the last decades have also seen the development of a lot of unneeded, unwanted software (mail order dog food, anyone?), but that’s the result of millions of creative types trying to build better mousetraps.

Fifty years ago, at the dawn of the computer revolution, no one could foresee or understand the extent to which computers would become entwined with people’s lives. Early computer scientists believed that computer technology would remain unwieldy and prohibitively expensive, restricting its application to the domains of governments and huge corporations. They never imagined people carrying around miniaturized computers that could understand a person’s physical location, give directions to nearby locations, and provide a way to determine which restaurants were worth visiting. Not to mention being able to call the restaurant and make a reservation. (Science fiction writers certainly imagined this and more, leaving us to wonder which of their yet-to-be-realized visions will come true in the coming decades.)

So computers are now everywhere, for all the good and bad implied by that (it drives me crazy when I’m told by a cashier that I can’t hand them a $20 bill to buy something because “the computers are down” — since when is a computer needed to make change?).

As computers and networks became pervasive, it was inevitable that people would begin using them to connect with other like-minded people. E-commerce was the first wave of this new web world, connecting manufacturers and vendors with people interested in their products. Social networking and user-generated content is the second wave of technology bringing people together outside the purchasing arena — this is why it is called Web 2.0.

It is just and fitting that software has evolved to the purpose of bringing people together — software is first and foremost a people business. I know that to non-programmers software seems as if it’s all about “bits and bytes,” but that’s like saying a bridge is about steel and concrete, not the people who envisioned, designed, built, and maintain it. Good software is designed and built by talented people working together effectively.

In my personal experience, I have never seen good user experience or good software products come from organizations that are uninspired, uncooperative, demotivated, staffed with mediocre people, or dysfunctional in some other way. All the stars of “people, process, and product” have to align to result in excellence, which is why it is so rare in the world of computers and the world in general.

At Currensee, we’re passionate about bringing people together, giving them insight and tools they can’t get elsewhere, and then seeing how far the intelligence and drive of our community can go. We love hearing our members say things like, “This site is fantastic….I have been searching for something like this for a long time!”

I’m very fortunate to lead the Currensee Engineering team, which is stocked with super-talented, self-motivated people who want to make things happen. We “engineer” in the best sense of the term, finding the best, quickest, and most elegant way to achieve our goals.

Since we want to focus on creating new value for our members and not re-inventing the wheel, we leverage best-of-breed open source and commercial software such as the Spring Framework, YUI, amCharts, and more to provide a platform on which we create unique and exciting offerings within the Forex market. We’ll gladly take pre-existing solutions to all the boring parts of building a world-class web site (after all, who really wants to implement a new MVC framework?) so that we can tackle the interesting bits ourselves.

I love showing the Currensee site to users, partners, and others. They are invariably impressed with the breadth of functionality, the quality of the experience, and the clean look and feel. I’m often asked, “How did you accomplish this with so few developers and QA engineers?”

The answer is that our people rock. It’s that simple.

Despite the high level of talent, we have no prima donnas — everyone at Currensee helps cross train others and pitches in on the necessary grunt work so that everyone is successful.

Think you have what it takes to match up to the team we already have? The expectations are high, the work is challenging, but it’s never boring. You will learn from others, you will teach others, and you will see your work used and appreciated greatly by our members. Send us your resume and let’s see…

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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

Looking at the employment data in more detail highlights a conflict between what economic indicators such as the ISM Employment and the Payroll said today. The manufacturing ISM reached its highest level since April 2004, whilst the Non manufacturing posted its best number since August 2008. However, these positives are simply not feeding through into either the Claims or Non farm data. With GDP growth at 5.7% in the last quarter and still no discernible rise in employment, it is clear that this remains a jobless recovery. For the economy, this is a concern and suggests that the consumer will stay under pressure moving forward. The likelihood is that the stock market will feel that pressure as well as the momentum from the 9 month rally dissipates rapidly and threatens a new bear market.

What does this mean for the Dollar? It was noted in a previous update that both the Euro and the Pound were threatening to begin a new phase of there downtrends. The closes below 1.3840 on the former and 1.5820 on the latter now mean from a technical standpoint that this is now the case. Both have support that is distant which highlights how swift the fall could be. The currency markets find themselves in a perfect scenario to trend as the Euro’s woes from peripheral Government debt problems continue, whilst the U.K. continues to struggle to emerge from recession. There are also three basic Dollar bullish arguments. The first is the potential for further flight to quality buying if stocks continue to slide. The S&P will remain under pressure until it can close above 1071, whilst it has no support until 1017. It would take a close beyond 1104 to make the market bullish once again. The second argument is the huge carry trade that is in the Dollar. This implies a potential binge of short covering if this unwinds and creates a constant underlying bid if the carry continues, if that carry is hedged via the forward rates. Finally and most significantly is the potential for further liquidity issues in the Global banking system. It is somewhat complex to explain, but the crux is the fact that the system is in effect short Dollars. This link from Zero hedge puts some flesh around the concept. http://www.zerohedge.com/article/imminent-round-2-foreign-bank-dollar-funding-crisis-or-eurodollar-squeeze-redux

The Dollar index also is at a pivotal point. In my analysis of Time based support and resistance, 0.8020 is at the point of most time in the previous long standing Dollar downtrend. The current uptrend is now at that point. Closes beyond here and then 0.8140 leave the potential for a swift rally to at least 0.8352.

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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

My last blog post noted the spurious nature of what set off the downtrend, but since then there has been no denying that it has accelerated. So what next? Often when a trend is swift there is a temptation to close the entire position, when in fact the momentum is so strong, that the reality is that some portion of the position should remain and until that trend changes, day trade opportunities must be used to re-enter on any corrective move. These methods will be covered in future blogs and visual detail provided in a future webinar, but for now, what are the future drivers of the trend?

Firstly, while commonly used indicators such as the RSI and Stochastic are oversold, the inherent flaw in using such indicators means that bottom pickers will be active, and if price breaks down again, will simply add to the wave of selling. So what is flawed? It’s obvious when you think about it, but somehow an established mantra becomes law and few players actually question it. Markets are non-linear and the indicators are linear. In other words, while price can go anywhere on the upside and zero on the downside, the indicators are limited between zero and one hundred. Therefore any strong trend that see simply a one or two day correction can cause theses indicators to move disproportionally and encourage players to trade against the trend. If divergence is evident (as nearly all trends with these indicators show) this will simply encourage them further. Today’s positioning at the close of London in Currensee highlights this fact as it is 77% long.

One of my mantras of trading is this…if a runaway truck is hurtling downhill towards you, don’t stand in its way. Far better to wait for it to prove it has some brakes. At the moment for the Eurodollar, the break of 1.4140 and the close below the standardized limit of range at 1.4170 (a close below my 3rd Range Deviation Pivot from chapter 1 of my book Trading Time), is highly bearish. Greece has been at the forefront of the negativity, but I think the next thing to look out for is the fact that Spain’s credit default swap is also widening sharply. It hit its highest level since July last year today, and with Spain being a far bigger economy than Greece, further widening of the spread will begin to exert huge strains on the Euro’s credibility.

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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

Last week it was noted that the Eurodollar currency was trapped, but it was required to stay above 1.4515 to confirm that a new higher trend could develop. It managed to do this for almost the entire week, (although without any much needed acceleration), before the overnight session on Friday saw the original break out point at 1.4440 give way. On waking up Friday morning it was clear that only this currency had shown any real weakness, so it was necessary to look for clues as to what it was. After scouring the wires the conclusion was that a rumour that Angela Merkel would resign was the reason. However, a government spokesman said: ‘Rumours about Angela Merkel’s resignation are just pulled out of thin air.’ The origin of the rumours was unclear. The break actually occurred at 1 a.m. U.K. time when the market is at one of its thinnest moments, when a critical support point was breached.

By the time the main market woke up, the lack of any real reason for the break (for those who don’t believe in Technical’s), led to a somewhat spurious excuse that feeds on itself to explain the move. This type of justification after the price move is a classic example. Another common one is that one major block of players such as funds are coming into a market. Again, in a world far removed from past decades when FX was traded on the phone and by human market makers, and therefore there was a degree of visibility, in the current trading environment, large players go to great lengths to hide there activity via sophisticated automatic trade engines. This has led to such terms as “Dark Pools”, which is a term for hidden liquidity. The question for traders, who are not in the professional market, is whether they are at a disadvantage. This is where Currensee’s social indicators and views of the communities positioning can provide some visibility that is relevant and up to date. It is easy, if discipline is not strict, to feel that the market is conspiring against you and can cause great damage to the ability to trade. Your position is wrong; the reason why seems nonsensical, and hope can easily enter your trading plan. This is nearly always ruinous.

So what is the solution? It may seem obvious, but there are two basic rules. The first is simply to day trade in your time zone, so there is no overnight event risk. Tomorrow is always a new day and opportunity. The second is the placement of stops. Whilst it is true that volume is thin in Asia compared to the other time zones, the FX market remains the area of deepest liquidity among all the asset classes. It is far better to have been taken out of a trade, in order to be able to reassess your analysis when not actively involved. One of my key mental tasks, if a current position is causing me uncertainty, is to go back to my days as a market maker, when often you were forced to have positions you didn’t want.

My question is. If I didn’t have a position, would I get long or short? Again, it seems somewhat simplistic, but in cold analysis, it is often easy to eliminate one side of the market, as it is obvious that it does not coincide with your trading plan and template. If it doesn’t do this, then the answer is that you shouldn’t have a position at all.

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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’s another firestorm sweeping its way through Forex circles. Last spring we had the NFA come down with restrictions against “hedging” and new FIFO accounting rules which forced changes in the way some traders and brokers in the US were operating and accounting for positions. That created a massive uproar, and not a little controversy as at least one broker was reportedly reprimanded for misrepresenting the NFA rules change as making stops and limit orders impossible. A lot of folks screamed and yelled about the not wanting regulators protecting them from themselves, and some folks took the opportunity to move their accounts to overseas jurisdictions.

Back in November a new NFA rule setting a cap of 100:1 as the maximum permissible leverage (for the majors and major crosses) went into effect. There was a lot less of a stink made about that move, most likely because the vast majority of experienced traders don’t go anywhere near that kind of leverage most of the time anyway. It changed some margin requirements, but otherwise didn’t really impact that many folks, so there was less squawking.

Now the US retail forex community has a new gripe. This time it is the prospect of the CFTC cutting the permissible leverage down to 10:1. This comes from a request for comment posted by the regulator on January 13th (the full document of the proposal can be found here.) The concern comes from the line “Leverage in retail forex customer accounts would be subject to a 10-to-1 limitation.” The cries of the end of retail Forex trading in the US are coming already, and in all likelihood a move like that by the CFTC would indeed cripple the industry.

That said, there’s no need to panic and shift your account to a foreign broker.

First of all, with the NFA having only adopted the 100:1 leverage limit in November there hasn’t been enough time for a real judgment on the impact of that rule change. It seems highly unlike the regulators will move without having collected sufficient data on the subject.

Second, this is only a request for opinion. You can be sure that the hue can cry from all participants against such a move will be very loud. The odds of that restriction being included in the final set of rules is very unlikely at this point, especially since it would actually make Forex leverage even less than that available in futures.

So everyone can relax. The odds of 10:1 leverage limits are extremely slim. By all means, though, take the opportunity to let the CFTC know what your thoughts are on the subject to make sure those odds remain low.

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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

During the majority of 2009 the dollar was heavily swayed by the risk aversion/risk acceptance swings in market psychology. That was why we saw stocks and the dollar generally going in opposite directions. When the markets were nervous they sold stocks and sought the safety of the dollar, mostly meaning short-dated Treasury securities. They the markets were feeling better, especially as the economic data improved, the market go out of its hunker down positions and moved into risk assets like stocks and emerging markets. We can see this very clearly when overlaying the dollar index (black plot, right scale) and the S&P 500 (red plot, left scale) on one chart.

We can also see this when overlaying the price of the 10 year Treasury Note futures on the Dollar Index chart. In this case we can see how falling prices (rising yields) from folks exiting the Treasury market matched up with a falling dollar.

Things began to change with the Dollar/T-Note relationship in the latter part of the third quarter, though, and that really showed up in December’s trading when rising rates (falling T-Note prices) came in conjunction with a rising dollar, and for the first time in a long while stocks and the greenback were consistently rising at the same time.

Why did this change? Because the markets are anticipatory things.

The fall in the dollar, as much as it was a lifting of the risk aversion trade, was also linked strongly to the dollar carry trade (borrow cheap dollars and invest them for higher returns elsewhere) and the Fed’s quantitative easing operations (buying Treasuries and mortgages). Both of those are generally things which increase money supply (whenever someone borrows money supply increases). More money means less value for the currency, which is why quantitative easing is considered a negative.

Two things started to happen in the latter part of the year, though. One was that the Treasury market, especially on the longer end, started getting worried about inflation driven by all the Fed operations. That’s a big part of what caused Treasury prices to fall, especially on the longer end. At the same time, the Fed finished up its program of Treasury purchases, so a big buyer left the market. Less demand means lower prices. This all contributed to the big steepening in the yield curve that’s been so much in the market discussion.

Of course the concern about inflation, combined with an improving economy, has traders starting to think about when the Fed will start raising rates. That wasn’t being asked until late in the year. Now it is, which is why Fed statements and minutes are being so closely monitored for indications. Higher interest rates, especially in the short maturity area, will kill the carry trade and make the dollar more attractive to investors. That is what helped lift it up from the late November lows.

Now consider one more element of all this – the money supply equation. Look at the chart below and make note of the grey M1 and blue M3 lines.

Notice the big growth rates in M1 during the latter part of 2008 and into 2009. That is the result of the Fed’s actions with quantitative easing and its various liquidity programs. The Fed has massively increased the monetary base, which is why you hear about the banks having huge levels of reserves.

Here’s the rub, though. M3 is not only not matching that growth, it’s actually started falling. You can think of M3 as being all the money in the economy, but most notably it includes bank loans. This is the thing people look at when they complain that banks are not lending. If M3 is falling when the monetary base is holding steady or increasing (or rising less than the others) it means that credit is contracting and loans are being paid off.

It is definitely going to be worth tracking money supply in the year to come. It will no doubt be tied closely to when the Fed starts to hike rates and how the dollar performs in general terms. On the one side, if M3 starts to rally quickly the inflation hawks will start screaming for Fed rate hikes and/or other measures to pull liquidity out of the system. Both those things would generally be good for the dollar so long as M3 doesn’t accelerate too fast. At the same time, if M3 keeps falling it will mean fewer dollars in the system. That’s also a positive for the greenback.

Now of course in the forex market it’s about relationships, so what happens with exchange rates will be dictated by more than just what’s happening in the US. Still, the makings are there for 2010 to be a good year for the buck.

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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

Currensee Chief Market Analyst Shaun Downey has a new blog post over at Forex Magnates this week in which he compares the activity in the US stock market to the range of USD pairs in Forex.

…there is no escaping the overwhelming importance of the American stock market and its influence over the Dollars direction. It can sometimes feel like you are trading that and not the Dollar at all…

Last month, guest Forex blogger Tim Mazanec pondered a divergence between stock and Forex traders.

…US equities opened the week on a strong note … Currency traders are well versed though that EUR/USD has only partially kept pace as it continues to trade around the 1.50 level. This begs the question of whether or not we are starting to see a divergence between traders in the stock market and in the currency market?

Whichever way you think the market winds are blowing, it’s interesting to see both Tim and Shaun comparing data from Currensee’s social indicators with their technical and fundamental analysis.  As Shaun writes,

The Currensee social indicators of positioning also provide insight. Last months Unemployment number saw negative sentiment on the Dollar maintained, but this had changed dramatically by last weeks figure. Longs of Dollars against Yen and Canadian where in the 90’s%, which is particularly telling, when taking into the account the latter’s initial bearish move on a very positive Canadian jobs report. Positioning against the Euro and Pound was also positive for the Dollar.

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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

Well equities managed to eke out small gains on Monday which continues their winning performance on Mondays of late but those gains were very much overshadowed by risk-averse events. Of course I’m alluding to Dubai and their debt problems along with the Black Friday shopping analysis. The Dubai news rocked emerging markets and reminded us of prior and potential contagion aftershocks. Black Friday showed an increase in foot-traffic but the actual monies spent were off this year. Let’s not forget that we’re comparing this year to 2008, a year that started off very disappointing after markets rocked investors last year.

Whether or not these events alone change the outlook for the Dollar and equities for the rest of year is to be seen but for now lets assume that they do and contemplate what other markets will cause a change in the forex market.

Normally, at least in the current environment, this would suggest that the USD will strengthen against its European counterparts, especially vs. the Euro and the GBP. Why? The US is an equity surplus country for one, thus as money flows back home to the US from Europe and neighboring emerging markets then the USD will strengthen due to higher demand. This of course necessitates watching the ‘Dow Jones chart for Today’ widget on Currensee. Therefore if global equities reverse course then the dollar should strengthen against its European counterparts.

Right now USD/JPY may be a more interesting story. Against the Yen and other Pac-Rim currencies the USD tends to weaken during times of risk-aversion. After all the original carry trade was with the Yen and not the USD. This has caused Japanese investors to seek yield elsewhere for a few decades now. This tale of two stories for the USD in my opinion is why market participants should focus on either the USD vs. the Euro’s or the Yen and not the Dollar index, but that is for another day.

Of course right now the USD is also a funding currency in the carry trade and any diminished appetite for the carry trade will cause less selling of the beloved ‘greenback’. That said both currencies have near 0% interest rates therefore USDJPY may ignore the carry trade for the remainder of the year.

Still December could turn out to be a trend-correcting month as by my calculations the last 7 years, if not longer, have witnessed a correction of the ongoing autumn trend that begins in early December and continues until month-end. These corrections average just over a 2% alteration of trend.

Traders on Currensee are certainly expecting this scenario to play out in USD/JPY. The Positioning table shows that 96% of traders are Long USD/JPY on Monday afternoon and if you exclude volume then 2/3rds still believe it is time to bottom-fish in this currency pair. This is one area that Currensee has an outright advantage over the Commitment of Traders report (COT). The COT only breaks it down by Yen positions, not by Yen pairs such as USD/JPY, EUR/JPY or AUD/JPY. The data from the COT is also reported with a 3 day lag where as Currensee’s positioning table reflects changes immediately.

The Bank of Japan still remains vocal on currency moves although their concerns seemed to have diminished from years past. Remember that the last Tankan report showed that manufacturers in Japan were expecting USD/JPY to close their fiscal year at 94.08 (end of March ’10). It was also just two weeks ago that BOJ Governor Shirakawa raised concern on US monetary policy. Look for his next comments to be displayed on the Reuters Thomson IFR Squawk Box. Still I’m not so sure that you want to position yourself on speculation that the BOJ may intervene.

To repeat the US is an equity surplus country therefore flows will still head back to the US from Japan if there is an equity correction. Adding these factors up, an equity correction bodes well for the USD but sentiment and the BOJ do not. Interest rates are debatable so to be seen if this is a one-way bet in USD/JPY right now or if it’s more oscillation ahead.

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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

This is a guest post by Tim Mazanec, CMT, a 14 year veteran of the foreign exchange and global markets. Tim combines technical, fundamental and flow analysis to develop his forecasts and Forex trading decisions.

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Another Monday has passed and it provided another solid day of gains in the stock market. I believe that we have seen this story before haven’t we? Yes, in fact it’s the 4th consecutive week that equities have posted gains out of the starting gate. Unfortunately though that optimism has normally faded throughout the week for equity investors and traders alike.

More than understandable at this point is that FX traders have not pushed EURUSD above 1.50 for more than a few sessions. In fact for scalpers it has been a nice opportunity to sell and sell again. How long is this pattern going to last though? Normally a pattern like this one would be occurring during the Europe/US summertime and experienced traders know to use oscillators before the Labor Day break-outs begin. The holiday season usually presents thinner trading conditions that lead to trend continuations, both in developed and emerging market currencies.

Remember back in 2006 when EURUSD went from 1.30 to 1.35 in what seemed to happen in just a few hours. In fact it happened during the US Thanksgiving day break. Of course last year EURUSD went from nearly 1.25 to almost 1.50 in post Thanksgiving trade as well. That took a bit longer but it still happened in an extremely quick fashion. You can also point to moves in the IDR, MXN and THB over the years during this season to witness, or better yet, to take part.

Am I suggesting a similar move in EURUSD or another currency pair is about to happen? No, but is it possible. Absolutely and it seems to happen more and more often now-a-days. No wonder the G7 (or G20 now) leaders want less volatility in the FX markets.

How can you spot potential developments? Well first off logging in to Currensee.com each day is a start. From there its always good to check the overnight market reports delivered by Thomson. For example if Gold goes from 1100 to 1200 to 1300 or vice versa do we think that the AUD, CAD, EUR & ZAR will be sitting still? These markets are interwoven to some degree after all. The Commodities Market widget also gives a quick glimpse of what markets are moving and figuring out which currencies will follow should be fairly straight forward.

Then there is always the MarketWatch widget. If traders are positioned 90% one way (sounds like Gold doesn’t it) then it probably means that they are spot on and riding a beautiful wave or waiting for that wave to crash. Of course the Hot Topic discussion board always provides interesting ideas and subjects. Having traders from around the world adds to the quality of the content. One should never be afraid to start a discussion, chances are that if you are thinking about a subject then there are more than a few others thinking about a similar idea.

2009 has gone from the year that the stock market crashed to a year of opportunity in stocks (and risk-taking assets such as EURUSD). The Dow Jones chart shows how stocks are moving. If stocks had excessive volatility overnight then it should be reflected in the Thomson Market reports.

Is history about to repeat itself? Nobody can say for sure but can you be prepared ahead of time? Yes you can and by logging into Currensee you can better prepare yourself for the trading day.

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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.