Wednesday, July 8, 2009
Forex Products Reviews
FOREX trading is exciting but think before you jump into the fire! Try practicing in a simulated FOREX market with FOREX Tester. Testing your strategy with this simulator will prepare you for trading with the big dogs in a manner that will save you both time and money! FOREX Tester allows you to test your trading strategies against historical data in mock trades without risking real money. It comes equipped with built-in indicators or you can create your own indicators using FOREX Tester API. This is a much faster alternative to testing yourself in real time through FOREX demo accounts. FOREX Tester is highly recommended if you are serious about mastering your trading skills! It’s simple to learn and navigate. The only real negative is a fully functional version of the program comes with a price betwee
DailyForex Blog Reviews: TheForexArticles
TheForexArticles:
TheForexArticles is maintained by James Woolley, who trades the market himself, and does not hold anything back when it comes to giving away his secrets to success, a factor that makes the blog an attractive source of information for anybody interested in Forex. Here is the interview I conducted with James: 1. Please tell us a little bit about yourself including your name, your profession, and your location."My name's James Woolley and I'm a full-time forex trader currently living in Somerset, south-west England. I also run a number of websites, including my forex blog, but most of my income comes from forex trading".2. How long have you been involved in the Forex market? "I've been trading UK stocks and the FTSE 100 index since around 2001 but I've only been trading the forex markets for around 4 or 5 years now".3. How long have you been blogging? "I started my forex blog back in October 2007 but actually came close to quitting in January 2008 when I was only getting a handful of visitors a day. However I received an email from someone saying how much they enjoyed reading my posts and asking why I'd stopped posting, so I decided to continue blogging, and I haven't looked back since".4. Who is your primary audience? "The objective of my blog is to help as many people as possible to become profitable traders. Therefore it is targeted towards forex traders of all levels, from rank amateurs to the more experienced traders who are still struggling to make any money".5. Why should someone read your blog? "Well for a start I believe I'm one of the very few traders who gives away their profitable trading strategy for nothing. Plus as well as posting my latest trading results every week, I also provide long-term analysis of various forex pairs and regularly discuss various different technical indicators and the latest forex systems that I'm currently working on".6. In your opinion, what are the main advantages of the Forex market? "Well for me there are several advantages. Firstly you can trade 24 hours a day which means you can trade the hours that suit you, or you can do what I do and that's to keep an eye on the markets all day long and wait for the very best set-ups to occur. Secondly there is also the fact that forex pairs conform extremely well to technical analysis, both on the short-term and long-term charts, so they are much easier to trade than stocks, for instance. Finally because many forex brokers offer leverage, there are very few barriers to entry because anyone can open an account and start trading with just a few hundred dollars if they so wish. Conclusion: Between James' technical analysis, brokers' reviews, Forex strategies, and general product reviews, there really is nothing missing from the site in terms of content. The site is written well and updated frequently, so whether you are a beginner or an experienced trader, there is what to gain from reading TheForexArticles.Advantages:
Updated frequently
Wide variety of topics
High level writing
Useful and practical information Disadvantages:
The site's look can be improved, with such top notch content, the site deserves a better design.
As a result of the lack of a better design, the site's useful information is not easily accessible.
While all traders can benefit from the site, most of the daily content is aimed toward more experienced and knowledgeable Forex traders.Final Words: TheForexArticles is a serious contender for the top Forex blogs with its updated and relevant information. The site offers very helpful analysis, strategies, and even videos from which the average Forex trader can benefit. The main issue with the site, and this is a clear indication of how superior the site really is, would be the lack of a modern and eye catching design. As James stated during our interview, there was a point at which he almost stopped blogging. All we can say is we are happy he decided to continue since he has done a great job in making his site a helpful resource for Forex traders around the globe.
TheForexArticles is maintained by James Woolley, who trades the market himself, and does not hold anything back when it comes to giving away his secrets to success, a factor that makes the blog an attractive source of information for anybody interested in Forex. Here is the interview I conducted with James: 1. Please tell us a little bit about yourself including your name, your profession, and your location."My name's James Woolley and I'm a full-time forex trader currently living in Somerset, south-west England. I also run a number of websites, including my forex blog, but most of my income comes from forex trading".2. How long have you been involved in the Forex market? "I've been trading UK stocks and the FTSE 100 index since around 2001 but I've only been trading the forex markets for around 4 or 5 years now".3. How long have you been blogging? "I started my forex blog back in October 2007 but actually came close to quitting in January 2008 when I was only getting a handful of visitors a day. However I received an email from someone saying how much they enjoyed reading my posts and asking why I'd stopped posting, so I decided to continue blogging, and I haven't looked back since".4. Who is your primary audience? "The objective of my blog is to help as many people as possible to become profitable traders. Therefore it is targeted towards forex traders of all levels, from rank amateurs to the more experienced traders who are still struggling to make any money".5. Why should someone read your blog? "Well for a start I believe I'm one of the very few traders who gives away their profitable trading strategy for nothing. Plus as well as posting my latest trading results every week, I also provide long-term analysis of various forex pairs and regularly discuss various different technical indicators and the latest forex systems that I'm currently working on".6. In your opinion, what are the main advantages of the Forex market? "Well for me there are several advantages. Firstly you can trade 24 hours a day which means you can trade the hours that suit you, or you can do what I do and that's to keep an eye on the markets all day long and wait for the very best set-ups to occur. Secondly there is also the fact that forex pairs conform extremely well to technical analysis, both on the short-term and long-term charts, so they are much easier to trade than stocks, for instance. Finally because many forex brokers offer leverage, there are very few barriers to entry because anyone can open an account and start trading with just a few hundred dollars if they so wish. Conclusion: Between James' technical analysis, brokers' reviews, Forex strategies, and general product reviews, there really is nothing missing from the site in terms of content. The site is written well and updated frequently, so whether you are a beginner or an experienced trader, there is what to gain from reading TheForexArticles.Advantages:
Updated frequently
Wide variety of topics
High level writing
Useful and practical information Disadvantages:
The site's look can be improved, with such top notch content, the site deserves a better design.
As a result of the lack of a better design, the site's useful information is not easily accessible.
While all traders can benefit from the site, most of the daily content is aimed toward more experienced and knowledgeable Forex traders.Final Words: TheForexArticles is a serious contender for the top Forex blogs with its updated and relevant information. The site offers very helpful analysis, strategies, and even videos from which the average Forex trader can benefit. The main issue with the site, and this is a clear indication of how superior the site really is, would be the lack of a modern and eye catching design. As James stated during our interview, there was a point at which he almost stopped blogging. All we can say is we are happy he decided to continue since he has done a great job in making his site a helpful resource for Forex traders around the globe.
Dollar, Yen Up As Risk Appetite Falls Further
LONDON (Dow Jones)--Worries about the global economy, falling oil prices as well as unrest in China all took their toll on risk appetite, lifting the safe-haven dollar and yen in Europe Wednesday.
But major currencies remained range bound for the most part with investors reluctant to take large positions ahead of the Group of Eight leading nations meeting in Italy and the start of the second-quarter earnings season later in the day.
See chart at
http://www.dowjoneswebservices.com/chart/view/2386
Although there were a few bright spots in the economic data calendar, including a rise in Australian and U.K. consumer sentiment, the overall picture remains gloomy with the market focusing on figures such as the 3.0% fall in Japan's core machinery orders for May.
This suggests that any improvement in industrial production may be short-lived given the lack of new capital investment.
Developments in China, which is experiencing the worst civic unrest since the Cultural Revolution, are also casting a shadow over sentiment, with Chinese President Hu Jintao having to abandon plans to attend the summit meeting of G8 leaders in Italy starting Wednesday.
Analysts warn that continued unrest could start to have an impact on China's growth expectations.
An even more telling sign of global growth concerns is coming, however, from the sharp slide in crude oil prices, which suggests that energy demand is expected to fall. The price of crude on the New York Mercantile Exchange is down 64 cents from New York's close at $62.29 a barrel.
Disappointment is also expected to come from the second-quarter earnings season which kicks off later in the day with Alcoa's latest results.
Also, markets are being very wary of comments that could come out of the G8 summit. Not only could there be further calls for the dollar to be replaced as a reserve currency, but there could also be unflattering remarks about the state of the global economy.
All this helped to ensure that equity prices continued their recent slide. The Dow Jones Industrial Average tumbled 1.9%, then the Nikkei lost 2.4% before European bourses shaved off another 0.1%-0.4%.
By 0930 GMT, the dollar had fallen to Y94.27 from Y94.82 late Tuesday in New York, according to EBS.
The euro slightly fell to $1.3911 from $1.3912 and to Y131.16 from Y131.91 as an update of the euro zone's second-quarter GDP contraction came in at 2.5%, much as the market had expected.
The dollar was also at CHF1.0898 from CHF1.0897, but the Swiss franc was strengthening against the sinking euro. Although at CHF1.5166, the euro is still trading well above the so-called line in the sand of CHF1.50, the market remains wary of more intervention from the Swiss National Bank to push the franc lower.
The pound, meanwhile, fell to $1.6112 from $1.6128, shrugging off a rise in consumer sentiment to levels last seen in October 2008 and focusing more on negative developments such as the 0.5% fall in Halifax house prices last month.
With risk aversion on the rise, so was the euro against its East European neighbors. The single currency rose to HUF277.76 from HUF275.71 and to PLN4.4236 from PLN4.4007. It was also up at CZK26.075 from CZK25.978.
-By Nicholas Hastings, Dow Jones Newswires; 44 20 7842 9493; nick.hastings@dowjones.com
TALK BACK: We invite readers to send us comments on this or other financial news topics. Please email us at TalkBackEurope@dowjones.com. Readers should include their full names, work or home addresses and telephone numbers for verification purposes. We reserve the right to edit and publish your comments along with your name; we reserve the right not to publish reader comments.
But major currencies remained range bound for the most part with investors reluctant to take large positions ahead of the Group of Eight leading nations meeting in Italy and the start of the second-quarter earnings season later in the day.
See chart at
http://www.dowjoneswebservices.com/chart/view/2386
Although there were a few bright spots in the economic data calendar, including a rise in Australian and U.K. consumer sentiment, the overall picture remains gloomy with the market focusing on figures such as the 3.0% fall in Japan's core machinery orders for May.
This suggests that any improvement in industrial production may be short-lived given the lack of new capital investment.
Developments in China, which is experiencing the worst civic unrest since the Cultural Revolution, are also casting a shadow over sentiment, with Chinese President Hu Jintao having to abandon plans to attend the summit meeting of G8 leaders in Italy starting Wednesday.
Analysts warn that continued unrest could start to have an impact on China's growth expectations.
An even more telling sign of global growth concerns is coming, however, from the sharp slide in crude oil prices, which suggests that energy demand is expected to fall. The price of crude on the New York Mercantile Exchange is down 64 cents from New York's close at $62.29 a barrel.
Disappointment is also expected to come from the second-quarter earnings season which kicks off later in the day with Alcoa's latest results.
Also, markets are being very wary of comments that could come out of the G8 summit. Not only could there be further calls for the dollar to be replaced as a reserve currency, but there could also be unflattering remarks about the state of the global economy.
All this helped to ensure that equity prices continued their recent slide. The Dow Jones Industrial Average tumbled 1.9%, then the Nikkei lost 2.4% before European bourses shaved off another 0.1%-0.4%.
By 0930 GMT, the dollar had fallen to Y94.27 from Y94.82 late Tuesday in New York, according to EBS.
The euro slightly fell to $1.3911 from $1.3912 and to Y131.16 from Y131.91 as an update of the euro zone's second-quarter GDP contraction came in at 2.5%, much as the market had expected.
The dollar was also at CHF1.0898 from CHF1.0897, but the Swiss franc was strengthening against the sinking euro. Although at CHF1.5166, the euro is still trading well above the so-called line in the sand of CHF1.50, the market remains wary of more intervention from the Swiss National Bank to push the franc lower.
The pound, meanwhile, fell to $1.6112 from $1.6128, shrugging off a rise in consumer sentiment to levels last seen in October 2008 and focusing more on negative developments such as the 0.5% fall in Halifax house prices last month.
With risk aversion on the rise, so was the euro against its East European neighbors. The single currency rose to HUF277.76 from HUF275.71 and to PLN4.4236 from PLN4.4007. It was also up at CZK26.075 from CZK25.978.
-By Nicholas Hastings, Dow Jones Newswires; 44 20 7842 9493; nick.hastings@dowjones.com
TALK BACK: We invite readers to send us comments on this or other financial news topics. Please email us at TalkBackEurope@dowjones.com. Readers should include their full names, work or home addresses and telephone numbers for verification purposes. We reserve the right to edit and publish your comments along with your name; we reserve the right not to publish reader comments.
French Presidency: G8 Unlikely To Discuss Forex
PARIS (Dow Jones)--The heads of the Group of the Eight leading nations are unlikely to discuss foreign exchange issues during their meeting in L'Aquila, Italy, from Wednesday, an official from the French presidency said Tuesday.
Speaking at a briefing ahead of the meeting, the official said G8 summits of heads of states and government "generally don't discuss foreign exchange matters."
Several countries are increasingly worried about the weakness of the U.S. currency against others, notably in Europe, as U.S. products are then less expensive on the export market than theirs.
During a conference in Aix-en-Provence, southern France, Sunday, European Central Bank President Jean-Claude Trichet said "it is extremely important that the United States of America...has been...saying that a strong dollar is in the interests of the United States of America."
The G8 will have a discussion about oil prices with the aim of defining a "reasonable" price range acceptable to both producing and consuming countries, which would help avoid extreme volatility of crude prices, another official said during the same briefing.
Speaking at a briefing ahead of the meeting, the official said G8 summits of heads of states and government "generally don't discuss foreign exchange matters."
Several countries are increasingly worried about the weakness of the U.S. currency against others, notably in Europe, as U.S. products are then less expensive on the export market than theirs.
During a conference in Aix-en-Provence, southern France, Sunday, European Central Bank President Jean-Claude Trichet said "it is extremely important that the United States of America...has been...saying that a strong dollar is in the interests of the United States of America."
The G8 will have a discussion about oil prices with the aim of defining a "reasonable" price range acceptable to both producing and consuming countries, which would help avoid extreme volatility of crude prices, another official said during the same briefing.
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