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FXNews - Currency and Market Reports

noreply@blogger.com (Pradeep) — Mon, 9 Jan 2006 20:28:00 -0800

The prevailing theme for the day in the currency market was the strength of the yen, which traders bid to its highest level since October 2005 against both the dollar and the sterling. The sharp advance in the Japanese currency triggered a renewed bout of government jawboning. Japan’s Finance Minister Tanigaki, speaking in New York, reiterated the mantra that currencies should reflect economic fundamentals and fluctuate in a stable manner. Furthermore, in hopes of curtailing further appreciation, he added that government authorities would intervene if deemed necessary.With exception to the yen, the dollar found reprieve against the majors on

Monday, recovering slightly from last week’s steep sell-off. The session was quiet by way of US economic data, with just the release of November consumer credit. There was an unexpected drop of $648.8 mln, adding onto October’s record drop of $8.4 bln. Consensus forecast was calling for a rise of $4.5bln. The Fed noted that it was the first time in 13-yrs consumer credit had posted two consecutive monthly declines.US equities performed well today as the Dow Jones breached the key 11,000-level for the first time since 2001, closing up 52-pts to 11,011.90, marking its fifth consecutive session of gains. The NASDAQ also closed higher, up 13-pts at 2318.69. Fed speeches scrutinized for directionGiven market perception that the Fed may be nearing the end of its tightening cycle, speeches from Fed officials are scrutinized for clues as to when the central bank will rein in its hand. Today’s speakers included Kansas City Fed President Hoenig and Atlanta Fed chief Guynn, both of which echoed a similar message that the current Fed funds rate was near neutral. However, they both acknowledged the potential risk of inflationary pressures to the economy. Hoenig expects the economy to perform well in 2006, but foresees a slowdown in job growth since the economy is moving toward potential output. He also sees core inflation remaining low and stable in the coming year. JPY Posts

Broad-based Advance

The Japanese yen was the biggest mover in the currency market at the start of the week, rallying sharply against the dollar, euro and sterling. Government jawboning was to no avail as traders continued to the bid the currency higher.USDJPY has recovered slightly off its multi-month low at 113.75 and now trades around 114.50. Support starts at 114, followed by 113.75 and 113. Further losses will target 112.70 and 112.20. Resistance is seen at 114.70, backed by 115 and 115.50. Further gains will target 116 and 116.45.The daily chart of the Euro/Yen cross increasingly resembles a head and shoulders reversal formation, with the pair dropping toward the neckline level today at 137.65. The pair has since regained some traction and hovers near 138.40.

Initial resistance starts at 138.70, followed by 139 and 139.50. Additional gains will target 140 and 140.60. Support starts at 138, followed by 137.65 and 137.20. Euro relinquishes gains, eyes of ZEWThe euro fell back beneath the 1.21-level against the dollar, drifting to a session low near 1.2060. Traders will look ahead to Tuesday’s Germany ZEW sentiment survey, which is forecasted to improve from the previous month. The current situation component is seen improving to -38.5 in January, up from -44.4 from December. The economic sentiment is forecasted to jump to 64.0, compared with 61.6 from last month. EURUSD is steady near 1.2080, with interim resistance starting at 1.21, backed by 1.2140 and 1.2180. Support starts at 1.2050, backed by 1.20 and 1.1930.

Daily Forex Commentary

Tuesday, January 10, 2006 - Market Commentary:: Australian Dollar: The Aussie held ground above 75 cents overnight despite weaker than expected Retail Sales figures for the month of November. Yesterday’s release saw a 0.1% drop since Octobers 0.5% rise and economists were predicting a 0.3% increase for the month.

The markets reaction was to sell AUD during local trade yesterday but attempts to break back below 0.7500 failed to gain momentum. Overnight it once again attempted a move below support as the USD strengthened but managed to hold on to its lows at 0.7505 and bounced on the back of another rise in Gold Futures. In late NY trading the February Gold contract traded at levels not seen since 1981; finishing around $550 an ounce and taking the Aussie dollar higher to retest 0.7550 in early morning trading. The market will be looking towards today’s release of the November Trade Balance figures today with expectations of an increase from a $1.3 billion deficit to $2.1 billion. - We expect a range today in the AUD/USD rate of 0.7520 to 0.7570. :: New Zealand Dollar: The NZD has attempted to break below 0.6900 on several occasions over the last 24 hours with another attempt failing overnight at 0.6905.

The initial move lower eventuated after comments from the U.S Atlanta Fed President Guynn talking the USD higher. The rally in the USD was however relatively short lived and the NZD has subsequently rallied to a high of 0.6940 in early morning trading. Rumoured Hedge fund selling of the Kiwi between 0.6950 and 0.7000 is expected to keep a lid on the NZD however a test of this critical resistance seems imminent given the recent USD weakness across the board. The Kiwi continued to bounce against the Japanese Yen after reaching a low of 78.65 last week reaching an overnight high just short of 79.50. - We expect a range today in the NZD/USD rate of 0.6910 to 0.6960. :: Majors: The USD attempted to rally overnight trading marginally higher against the Yen and Euro reaching highs of 114.75 and 1.2055 respectively. The move was inspired by comments from the President of the Federal Reserve Bank of Atlanta Jack Guynn. He attempted to ease the markets fears of an impending downturn in economic activity in a speech to the Rotary Club of Atlanta by re-iterating that the U.S economy is “doing quite well” and that it should continue to grow between 3 and 4%. The comments came after Hedge Fund Guru George Soros said the current interest rate “overshooting” by the Reserve Bank could push the U.S economy into a recession in 2007.

He went on to add that the Fed had to continue to raise rates until the economy started to slowdown but at that point it may be too late. The markets failed to sustain any rally with the Yen strengthening back to 114.40 and the Euro bouncing back towards 1.2100. All eyes will now be on the European Central Bank as it meets to decide on interest rates this Thursday where they are not expected to announce any change. However the markets are pricing in the possibility of a move in European rates in February or March and will be keenly anticipating the accompanying press conference with the ECB President Trichet for guidance. :: Data Releases:
AUD: November Trade Balance & NAB December monthly business survey
JPN: Household Spending
EUR: Economic Sentiment Index
CAN: December Housing Starts & November Building Permits

Wireless Access for FXGame (beta)

If you have access to a WAP enabled phone or mobile device, you can check your account balance, the latest exchange rates and the state of your open trades for your FXGame account.To access these wireless services, type in the URL below into your device:http://fxgame.oanda.com/index.wmland follow the links to login to your account. Use your FXGame username and password to enter the "account information" area.Please note, this is a beta version and we currently do not provide technical support for the Wireless Access to FXGame.

FXGame - Currency Trading Game

FXGame allows you to play the currency market using 'play' money. FXGame accounts are 100% free and will not expire. FXGame is a great way to familiarize yourself with OANDA's FXTrade platform. Just register and your account will be credited with an initial virtual $100,000 USD. You can start playing the currency trading market with real market conditions immediately. You will also have access to news, analysis tools, technical charts and much more.

U.S. Dollar Off Against Major Currencies

noreply@blogger.com (Pradeep) — Wed, 4 Jan 2006 17:28:00 -0800

NEW YORK Jan 4, 2006 — The dollar fell against other major currencies Wednesday after U.S. Federal Reserve minutes released Tuesday suggested to investors that interest-rate increases are nearing an end.

The U.S. currency's drop was triggered early Tuesday, after the Institute for Supply Management's gauge of manufacturing activity came in at an unexpectedly weak 54.2 for December, the lowest reading in seven months, said Paul Jackson, analyst at CMC Markets.
The 12-nation euro rose against the dollar to $1.2122 late Wednesday in New York, compared with $1.2023 in late New York trading Tuesday. The British pound also climbed against the dollar to $1.7581 from $1.7452. The dollar dipped to 115.95 yen from 116.03. The dollar fell to 1.2755 Swiss francs from 1.2890, and to 1.1474 Canadian dollars from 1.1555.

On Tuesday, the Fed released minutes that stated, "Although future action would depend on the incoming data, this characterization of the outlook for policy was seen by most members as indicating that, given the information now in hand, the number of additional firming steps required probably would not be large."

Halting interest-rate hikes would make the dollar less attractive to investors, who had flocked to the U.S. currency in 2005 as the Fed gradually raised interest rates to stave off inflation. In 2005, the euro fell 12.7 percent against the dollar; the British pound dropped 10.6 percent versus the dollar; and the dollar gained 15 percent versus the yen.

"Now, you've got investors who believe they want to have a core short-dollar position in place," said Robert Sinche, head of currency strategy at Bank of America.
Still, analysts said, the dollar's drop was abrupt given the vagueness of the Fed's intentions, which will depend on upcoming U.S. economic data.

"The data that will generate big interest will be the employment data on Friday," said Sinche, who noted the analyst consensus is that employment grew by over 200,000 in December, as it did in November. If that strong data comes through, "it might give some pause to those chasing the dollar lower," he said.

NEW YORK (Reuters) - U.S. stock and bond prices rose for a second day on Wednesday on hopes an end to interest-rate increases was near, a prospect that knocked the dollar to two-month lows against the euro and the Swiss franc.
A weaker dollar lifted gold to a 3-week high, while oil rose on expectations of a decline in U.S. crude inventories.

Equity and fixed income markets extended rallies that began on Tuesday when the Federal Reserve's Open Market Committee said the number of future rate hikes "probably would not be large," according to minutes released from the latest meeting.
"The FOMC minutes provided further affirmation to a bond market that continues to see the glass as half full," said Stephen Stanley, chief economist at RBS Greenwich.

Benchmark 10-year notes climbed 4/32 for a yield of 4.35 percent, retesting two-month lows and down from 4.37 percent on Tuesday.

In the stock market, shares of Google Inc. (GOOG.O: Quote, Profile, Research), the world's most-used Web search engine, rose to a record after Bear Stearns & Co. lifted its rating on the stock, according to MarketWatch.. The brokerage also raised its price target on Google to $550 from $360.

LAS VEGAS (Reuters) - Bill Gates on Wednesday will show an avid tech audience the long-awaited major upgrade to Microsoft Corp.'s (MSFT.O: Quote, Profile, Research) Windows operating system, called Vista, as the electronics industry's biggest U.S. conference kicks off.
Gates, Microsoft's co-founder and chief software architect, speaks later on Wednesday and is a veteran keynote speaker at the Consumer Electronics Show, or CES, held annually in Las Vegas.
A dozen industries are convening in Las Vegas this week for the industry's annual confab to show off the latest electronic gadgets as they angle for a bigger share of a $122 billion industry. In all, the show will include more than 2,500 exhibitors, 130,000 industry participants and 28 football fields of display space.

A central theme this year is portable digital content, taking video and putting it on various devices, from portable players, portable disk storage, and being able to watch it easily and seamlessly.

Wireless broadcast tower operator Crown Castle International Corp. (CCI.N: Quote, Profile, Research) announced plans to launch live television in several top U.S. markets this year and aims to deliver video and audio services to a range of products from cellphones and portable media players to laptop computers and cars.
Microsoft has promised to launch Vista -- formerly code-named Longhorn -- in the second half of this year. The next version of Office, its office productivity software suite, also is slated to launch around that time.

On Wednesday evening, Gates takes the wraps off the operating system's user interface, and his presentation is expected to focus on the consumer-related features of Vista, such as moving video, music, movies and other digital content easily among PCs and devices.
In addition to Gates, chief executives from Sony Corp. (6758.T: Quote, Profile, Research)(SNE.N: Quote, Profile, Research), the world's biggest consumer electronics company; Intel Corp. (INTC.O: Quote, Profile, Research); Google Inc. (GOOG.O: Quote, Profile, Research); and others will be on hand to give speeches.

Palm Inc. (PALM.O: Quote, Profile, Research), for its part, said on Wednesday it had started sales of its Treo mobile phone powered by Microsoft software, a device that could help Palm compete against Research In Motion Ltd.'s (RIM.TO: Quote, Profile, Research) BlackBerry for corporate customers.
Palm's Treo 700w device, introduced at the trade show, will run on the high-speed data network of Verizon Wireless, using the Windows Mobile operating system. Verizon Wireless is a joint venture of Verizon Communications Inc. (VZ.N: Quote, Profile, Research) and Vodafone Group Plc (VOD.L: Quote, Profile, Research).
The new Treo could potentially open up a much bigger corporate market for Palm, due to Microsoft's central role in the desktop computer software and back-office e-mail markets

FOREX-Dollar weakens in thin new year trading

noreply@blogger.com (Pradeep) — Mon, 2 Jan 2006 22:35:00 -0800

SINGAPORE, Jan 3 (Reuters) - The dollar weakened half a percent against the yen and euro on Tuesday in thin trading as some traders bet on an early end to the U.S. Federal Reserve's 1-1/2-year rate-rise cycle.

Trading volumes were low at the start of the new year as holidays in Japan, China and New Zealand kept many operators away and that exaggerated price swings, analysts said. "I wouldn't say this sets the trend for the whole of the month," said James Malcolm, a currency strategist at Deutsche Bank in Singapore.
"People are coming in from holidays today. Maybe some are selling some dollars. But positions are fairly low compared with this time last year."

At 0526 GMT the dollar was at 117.25 yen against Friday's close of 117.96. The euro was at $1.1889 compared with $1.1825.
The dollar ended 2005 with its biggest annual gain against the euro since 1999, when trading in the European currency began, and the sharpest rise against the yen in at least 22 years, confounding analysts who had expected it to fall for the fourth straight year on worries about the U.S. current account deficit. Against a basket of currencies, the dollar had its best year since 1997, rising by 13 percent.

Some analysts said the U.S. currency could gain further ground in the first half of 2006 for the same reason it outperformed rival currencies last year -- a sustained rise in U.S. interest rates as European rates stayed relatively low and monetary policy in Japan remained ultra-loose.
Low rates in Japan should encourage investors to continue with their carry trades, borrowing the yen and exchanging it for higher-yielding assets, such as U.S. dollars.
"The house view is dollar/yen should be higher on carry trades," said Malcolm at Deutsche Bank, which also predicts, contrary to many in the market, that the high-yielding New Zealand dollar will outperform in 2006.

Ashley Davies, a currency strategist at Swiss bank UBS, said in a note he expected the euro/dollar to explore the lower end of the bank's projected $1.16-$1.22 per euro range and forecast the yen would drop towards its one-month target of 122 per dollar.
A string of economic data this week from the United States could set the tone for currencies in the coming weeks, he said.

The Institute for Supply Management's manufacturing index, due at 1500 GMT, is estimated to have slipped in December, according to a Reuters poll of 42 economists, but the index was still expected to show an expanding manufacturing sector.
U.S. non-farm payrolls data for December is due on Friday.
Analysts said robust jobs data, coming after reports that suggest strong sales in the U.S. in the holiday season, could encourage the Federal Reserve to keep raising rates, at least at its next few meetings.
The Federal Open Market Committee (FOMC) next meets on Jan. 31 and is widely expected to endorse its 14th interest rate rise since June 2004, boosting the fed funds rate to 4.5 percent from 4.25 percent. However, there is some debate as to whether this will be the peak in the cycle.

"It's premature to bang the table on how far they'll go," said Malcolm at Deutsche Bank.
The market will be looking at Tuesday's release of the minutes of the FOMC's Dec. 13 meeting to gauge the future direction of interest rates.
"This was the meeting at which the FOMC took the first step in its exit strategy, dropping the reference to accommodative policy," said ANZ Investment Bank strategist Sally Auld. Currency bid prices at 0526GMT. All data taken from Reuters with percent change calculated from the daily U.S. close at 2130GMT.
Last US Close %Chg YTD % 2005 Cls

What is Foreign Exchange (Forex)?

Foreign Exchange (FOREX) is the arena where a nation's currency is exchanged for that of another. The foreign exchange market is the largest financial market in the world, with the equivalent of over $1.9 trillion changing hands daily; more than three times the aggregate amount of the US Equity and Treasury markets combined. Unlike other financial markets, the Forex market has no physical location and no central exchange. It operates through a global network of banks, corporations and individuals trading one currency for another. The lack of a physical exchange enables the Forex market to operate on a 24-hour basis, spanning from one zone to another in all the major financial centers.

Traditionally, retail investors' only means of gaining access to the foreign exchange market was through banks that transacted large amounts of currencies for commercial and investment purposes. Trading volume has increased rapidly over time, especially after exchange rates were allowed to float freely in 1971. Today, importers and exporters, international portfolio managers, multinational corporations, speculators, day traders, long-term holders and hedge funds all use the FOREX market to pay for goods and services, transact in financial assets or to reduce the risk of currency movements by hedging their exposure in other markets. MG Financial Group’s combination of low margin and high leverage has changed the way the Interbank currency market operates. We have done this by opening the doors of Forex to retail investors, giving them the professional tools and services needed to trade effectively in an independent atmosphere.

The Gold Exchange and the Bretton Woods Agreement
In 1967, a Chicago bank refused a college professor by the name of Milton Friedman a loan in pound sterling because he had intended to use the funds to short the British currency. Friedman, who had perceived sterling to be priced too high against the dollar, wanted to sell the currency, then later buy it back to repay the bank after the currency declined, thus pocketing a quick profit. The bank’s refusal to grant the loan was due to the Bretton Woods Agreement, established twenty years earlier, which fixed national currencies against the dollar, and set the dollar at a rate of $35 per ounce of gold.
The Bretton Woods Agreement, set up in 1944, aimed at installing international monetary stability by preventing money from fleeing across nations, and restricting speculation in the world currencies. Prior to the Agreement, the gold exchange standard--prevailing between 1876 and World War I--dominated the international economic system. Under the gold exchange, currencies gained a new phase of stability as they were backed by the price of gold. It abolished the age-old practice used by kings and rulers of arbitrarily debasing money and triggering inflation.

But the gold exchange standard didn’t lack faults. As an economy strengthened, it would import heavily from abroad until it ran down its gold reserves required to back its money; consequently, the money supply would shrink, interest rates rose and economic activity slowed to the extent of recession. Ultimately, prices of goods had hit bottom, appearing attractive to other nations, who would rush into buying sprees that injected the economy with gold until it increased its money supply, and drive down interest rates and recreate wealth into the economy. Such boom-bust patterns prevailed throughout the gold standard until the outbreak of World War I interrupted trade flows and the free movement of gold.
After the Wars, the Bretton Woods Agreement was founded, where participating countries agreed to try and maintain the value of their currency with a narrow margin against the dollar and a corresponding rate of gold as needed. Countries were prohibited from devaluing their currencies to their trade advantage and were only allowed to do so for devaluations of less than 10%. Into the 1950s, the ever-expanding volume of international trade led to massive movements of capital generated by post-war construction. That destabilized foreign exchange rates as setup in Bretton Woods.

The Agreement was finally abandoned in 1971, and the US dollar would no longer be convertible into gold. By 1973, currencies of major industrialized nations floated more freely, as they were controlled mainly by the forces of supply and demand. Prices were floated daily, with volumes, speed and price volatility all increasing throughout the 1970s, giving rise to new financial instruments, market deregulation and trade liberalization.
In the 1980s, cross-border capital movements accelerated with the advent of computers and technology, extending market continuum through Asian, European and American time zones. Transactions in foreign exchange rocketed from about $70 billion a day in the 1980s, to more than $1.5 trillion a day two decades later.
The Explosion of the Euromarket

A major catalyst to the acceleration of Forex trading was the rapid development of the eurodollar market; where US dollars are deposited in banks outside the US. Similarly, Euromarkets are those where assets are deposited outside the currency of origin. The Eurodollar market first came into being in the 1950s when Russia’s oil revenue-- all in dollars -- was deposited outside the US in fear of being frozen by US regulators. That gave rise to a vast offshore pool of dollars outside the control of US authorities. The US government imposed laws to restrict dollar lending to foreigners. Euromarkets were particularly attractive because they had far less regulations and offered higher yields. From the late 1980s onwards, US companies began to borrow offshore, finding Euromarkets a beneficial center for holding excess liquidity, providing short-term loans and financing imports and exports.

London was, and remains the principal offshore market. In the 1980s, it became the key center in the Eurodollar market when British banks began lending dollars as an alternative to pounds in order to maintain their leading position in global finance. London’s convenient geographical location (operating during Asian and American markets) is also instrumental in preserving its dominance in the Euromarket.

About Financial Markets

noreply@blogger.com (Pradeep) — Fri, 23 Dec 2005 11:15:00 -0800

The Bank's roles in the markets

Financial markets consist of markets for money, bonds, equities, derivatives, and foreign exchange. They are one of the three elements of Canada's financial system. It is mainly through the financial markets that the Bank's key policy rate influences interest rates and the exchange rate. This, in turn, helps the Bank achieve its monetary policy objectives.

The Bank is also involved in financial markets through auctions of government securities. On rare occasions, the Bank may also intervene in the foreign exchange market on behalf of the government to promote orderly markets for the Canadian dollar.
The Bank conducts wide-ranging research to strengthen its understanding of the structure of the Canadian financial system and to identify how the Bank can encourage the development and stability of Canadian markets.

About exchange rates

Bank of Canada exchange rates are nominal quotations — not buying or selling rates — and are intended for statistical or analytical purposes. Rates available from financial institutions will differ. Rates are expressed in Canadian dollars, converted from U.S. dollars.
The noon exchange rate for the Canadian dollar against the U.S. dollar is calculated to reflect the trades that take place between 11:59 a.m. and 12:01 p.m. All other Canadian dollar noon exchange rates are derived from the US$/Can$ exchange rate and from indicative wholesale market quotes for a broad array of other currencies. Although obtained from sources believed to be reliable, the data are for informational purposes only, and the Bank of Canada does not guarantee their accuracy or completeness.

The noon rates are updated by about 12:45 p.m. ET at month-end and 12:30 p.m. ET on other business days. The closing rates are based on official parities or market rates and are updated at about 4:30 p.m. ET on the same business day.
Related information

Open Market Operations

The Bank implements monetary policy primarily by conducting temporary and permanent open market operations. By buying and selling government securities, the Bank affects the aggregate level of balances available in the banking system, and thus impacts the federal funds rate.

Open Market Operations: Key Concepts

Temporary open market operations involve repurchase and reverse repurchase agreements that are designed to temporarily add or drain reserves available to the banking system.
Permanent open market operations involve the buying and selling of securities outright to permanently add or drain reserves available to the banking system.
The federal funds rate is the interest rate at which depository institutions lend balances at the Federal Reserve to other depository institutions overnight.

ABOUT THE CANADIAN FOREIGN EXCHANGE COMMITTEE

The Canadian Foreign Exchange Committee (CFEC) was founded in 1989. It is composed of senior officers from financial institutions actively involved in Canada's foreign exchange market and the Canadian dollar market globally. It also includes representatives from the inter-dealer electronic and voice brokers, the Bank of Canada and the Department of Finance.

The president of the Financial Markets Association of Canada (FMAC) and the chair of the Canadian Committee for Professionalism (CCFP) are ex-officio members. The CFEC's objective is to provide a forum for the regular discussion of issues and developments pertinent to the foreign exchange market, including the review of market practices and procedures. More information on the CFEC can be found in its Document of Objectives and Organization. The CFEC is the co-sponsor, with FMAC, of the CCFP. Formed in 1993, the CCFP's objective is to promote a high standard of professionalism and ethical conduct in the Canadian foreign exchange market. Information on the CCFP can be found in its Document of Organization. More recently, the CFEC has formed an Operations Managers Working Group (OMWG), which focuses on operational and back-office issues. The OMWG held their inaugural meeting in September 2003.

TRADING WITH FXCM

noreply@blogger.com (Pradeep) — Tue, 20 Dec 2005 08:16:00 -0800

What is My FXCM?

My FXCM is an interactive website designed exclusively for existing FXCM clients. The site enables you to quickly and easily perform administrative functions, access account information/reports, and receive exclusive market analysis. My FXCM requires no special software and can be accessed on any computer via your Internet browser.

A New Breakthrough in Customer Service

To access My FXCM, go and login using the same username and password as your FXCM trading account. My FXCM represents a new breakthrough in customer service. By giving clients the ability to manage accounts from their personal computer, FXCM provides the most efficient processing available in the FX market today

Why Take the FX Power Course?

Expert Training. The FX Power Course instructors are seasoned traders with years of market experience. Instructors are encouraged to trade forex themselves and put to test what they teach. If you have a question or want personalized feedback, instructors are available around the clock to guide you while you learn to trade!

Interactive instruction and feedback.

The course instructors will issue you a special demo account and give you constructive feedback on your trades. Because the course operates 24 hours a day you can ask questions and receive immediate response, regardless of where you live or when you trade!

Learn from the successes of other traders.

FXCM has serviced over 50,000 accounts and we have seen what works for some traders and what causes others to fail. The FX Power Course teaches the secrets of these profitable traders.

Money Back Guarantee Policy.

have a money back Guarantee Policy. If you are not completely satisfied with the course, you can cancel anytime before half of the course is completed and receive 100% of your money back.

Learn from the failures of other traders.

We also teach you what NOT to do! Bypass costly "beginner" mistakes. We will teach you what to watch out for and what to avoid - before you trade with real money!

Win Cash in the Alumni Trading Contest. FXCM is sponsoring a trading contest exclusively for FX Power Course graduates

Trade Size

On the FXCM trading platform all trades are executed in standard sizes of 10,000 base currency per one lot.Here are some examples:

U.S. Dollar/ Japanese Yen (10,000 U.S. Dollars)
Euro/ U.S. Dollar (10,000 Euros)
Euro/ Great Britain Pound (10,000 Euros)
Euro/ Japanese Yen (10,000 Euros)
Types of Orders

The trading platform provides sophisticated order entry and tracking of market orders, entry orders, stop/limit entry orders, and stop-loss orders. All of the above orders are Good Until Cancelled (GTC), which is valid until the order is executed or cancelled.

Margin

FXCM enables currency trading to be conducted on a highly leveraged basis. Every trader is able to select the degree of leverage or gearing that the trader wishes to employ in trading. Unless the trader specifies otherwise, FXCM sets the leverage level at FXCM's default margin level for the deposited amount. The requirements for leverage vary with account size, and may be changed from time to time at the sole discretion of the dealing desk, based on volume traded and market conditions.

UNDERSTANDING FOREX QUOTES

noreply@blogger.com (Pradeep) — Wed, 7 Dec 2005 06:31:00 -0800

Reading a foreign exchange quote may seem a bit confusing at first. However, it's really quite simple if you remember two things: 1) The first currency listed first is the base currency and 2) the value of the base currency is always 1.

The US dollar is the centerpiece of the Forex market and is normally considered the 'base' currency for quotes. In the "Majors", this includes USD/JPY, USD/CHF and USD/CAD. For these currencies and many others, quotes are expressed as a unit of $1 USD per the second currency quoted in the pair. For example, a quote of USD/JPY 110.01 means that one U.S. dollar is equal to 110.01 Japanese yen.

When the U.S. dollar is the base unit and a currency quote goes up, it means the dollar has appreciated in value and the other currency has weakened. If the USD/JPY quote we previously mentioned increases to 113.01, the dollar is stronger because it will now buy more yen than before.

The three exceptions to this rule are the British pound (GBP), the Australian dollar (AUD) and the Euro (EUR). In these cases, you might see a quote such as GBP/USD 1.7366, meaning that one British pound equals 1.7366 U.S. dollars.

In these three currency pairs, where the U.S. dollar is not the base rate, a rising quote means a weakening dollar, as it now takes more U.S. dollars to equal one pound, euro or Australian dollar.

In other words, if a currency quote goes higher, that increases the value of the base currency. A lower quote means the base currency is weakening.

Currency pairs that do not involve the U.S. dollar are called cross currencies, but the premise is the same. For example, a quote of EUR/JPY 127.95 signifies that one Euro is equal to 127.95 Japanese yen.

When trading forex you will often see a two-sided quote, consisting of a 'bid' and 'offer'. The 'bid' is the price at which you can sell the base currency (at the same time buying the counter currency). The 'ask' is the price at which you can buy the base currency (at the same time selling the counter currency).

Managing a Margin AccountTrading on margin can be a profitable investment strategy, but it's important that you take the time to understand the risks.
You should make sure you fully understand how your margin account works. Be sure to read the margin agreement between you and your clearing firm. Talk to your account representative if you have any questions.

The positions in your account could be partially or totally liquidated should the available margin in your account fall below a predetermined threshold.
You may not receive a margin call before your positions are liquidated.
You should monitor your margin balance on a regular basis and utilize stop-loss orders on every open position to limit downside risk.

Trading currencies on margin lets you increase your buying power. Here's a simplified example: If you have $2,000 cash in a margin account that allows 100:1 leverage, you could purchase up to $200,000 worth of currency-because you only have to post 1% of the purchase price as collateral. Another way of saying this is that you have $200,000 in buying power.
Benefits of MarginWith more buying power, you can increase your total return on investment with less cash outlay. To be sure, trading on margin magnifies your profits AND your losses.

Here's a hypothetical example that demonstrates the upside of trading on margin:

With a US$5,000 balance in your margin account, you decide that the US Dollar (USD) is undervalued against the Swiss Franc (CHF).

To execute this strategy, you must buy Dollars (simultaneously selling Francs), and then wait for the exchange rate to rise.

The current bid/ask price for USD/CHF is 1.2322/1.2327 (meaning you can buy $1 US for 1.2327 Swiss Francs or sell $1 US for 1.2322 francs)

Your available leverage is 100:1 or 1%. You execute the trade, buying a one lot: buying 100,000 US dollars and selling 123,270 Swiss Francs.
At 100:1 leverage, your initial margin deposit for this trade is $1,000. Your account balance is now $4000.

As you expected, USD/CHF rises to 1.2415/20. You can now sell $1 US for 1.2415 Francs or buy $1 US for 1.2420 Francs. Since you're long dollars (and are short francs), you must now sell dollars and buy back the francs to realize any profit.

You close out the position, selling one lot (selling 100,000 US dollars and receiving 124,150 CHF) Since you originally sold (paid) 123,270 CHF, your profit is 880 CHF.
To calculate your P&L in terms of US dollars, simply divide 880 by the current USD/CHF rate of 1.2415. Your profit on this trade is $708.82
SUMMARY
Initial Investment:
$1000
Profit:
$708.82
Return on investment:
70.8%
If you had executed this trade without using leverage, your return on investment would be less than 1%.

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Technical Analysis

noreply@blogger.com (Pradeep) — Wed, 7 Dec 2005 04:19:00 -0800

Technical analysis is the examination of past price movements to forecast future price direction. Technical analysts are sometimes referred to as "chartists" because they rely almost exclusively on charts for their analysis.

Technical analysis is applicable to stocks, indices, commodities, futures or any tradable instrument where the price is influenced by the forces of supply and demand. Price refers to any combination of the open, high, low or close for a given commodity/security over a specific timeframe. The time frame can be based on intraday (tick, 5-minute, 15-minute or hourly), daily, weekly or monthly price data and last a few hours or many years. In addition, some technical analysts include volume and/or open interest figures with their study of price action.

Money managers, traders and investors who find ways to outperform the market must also remain flexible and innovative. A method that works today does not mean it will work tomorrow.

The Beginning of Technical Analysis

At the turn of the century, the Dow Theory laid the foundations for what was later to become modern technical analysis. Dow Theory was not presented as one complete amalgamation, but rather pieced together from the writings of Charles Dow over several years.

Technical analysts believe that the current price fully reflects all information. Because all information is already reflected in the price, it represents the fair value and should form the basis for analysis. After all, the market price reflects the sum knowledge of all participants, including traders, investors, portfolio managers, market strategist, technical analysts, fundamental analysts and many others. It would be folly to disagree with the price set by such an impressive array of people with impeccable credentials. Technical analysis utilizes the information captured by the price to interpret what the market is saying with the purpose of forming a view on the future.

A technician believes that it is possible to identify a trend, and market turning points, invest or trade based on the trend and make money as the trend, or turning points unfolds. Because technical analysis can be applied to many different timeframes, it is possible to spot both short-term and long-term trends.

The IBM chart below illustrates a view on the nature of the trend. The broad trend is up, but it is also interspersed with trading ranges. In between the trading ranges are smaller uptrends within the larger uptrend. The uptrend is renewed when the stock or commodity breaks above the trading range. A downtrend begins when the stock or commodity breaks below the low of the previous trading range.

What is the current price?
What is the history of the price movement?

The price is the end result of the battle between the forces of supply and demand for any particular item. The objective of analysis is to forecast the direction of the future price. By focusing on price and only price, technical analysis represents a direct approach. Fundamentalists are concerned with 'why' the price is what it is. For technicians, the 'why' portion of the equation is too broad and many times the fundamental reasons given are highly suspect. Technicians believe it is best to concentrate on 'what' and never mind why. Why did the price go up? It is simple, more buyers (demand) than sellers (supply). After all, the value of any item is only what someone is willing to pay for it. Who needs to know why? You may never know why.

Many technicians employ a broad-based, longer term, macro, long-term analysis first. The larger parts are then broken down to base the final step on a more focused/micro short-term, perspective. Such an analysis might involve three steps:

Broad market analysis through the major indices such as the S&P 500, Dow Industrials, NASDAQ and NYSE Composite, or Commodity Futures Index, or other broad indexes of various types.
Group analysis to identify the strongest and weakest groups within the broader market groupings, i.e. Indexes, Meats, Grains, Currencies, Metals, Energies, etc.
Individual analysis to identify the strongest and weakest within each group.

The beauty of technical analysis lies in its versatility. Because the principles of technical analysis are universally applicable, each of the analysis steps above can be performed using the same theoretical background. You don't need an economics degree to analyze a market index chart or commodity group. Charts are charts. It does not matter if the timeframe is 2 days or 2 years. It does not matter if it is a, market index, currency or commodity. The technical principles of support, resistance, trend, trading range and other aspects can be applied to any chart. While this may sound easy, technical analysis is by no means easy. Success requires serious study, dedication and an open mind. Technical analysis can be as complex or as simple as you want it.

Overall Trend:

The first step is to identify the overall trend. "The trend is your friend". This can be accomplished with trend lines, or moving averages, or both. A Moving Average (MA) is an average of data for a certain number of time periods. It "moves" because for each calculation, we use the latest "x" number of time periods' data. As long as the price remains above its uptrend line, or selected moving average or previous lows, the trend should be considered bullish. The trend theory holds that an uptrend remains intact as long as each successive intermediate high is higher than those preceding it and each reaction low stops and holds at a higher point than did earlier reaction lows. Conversely, a downtrend prevails when each intermediate decline allows prices to fall below previous lows and rallies fall short of earlier rally highs.

Support and Resistance Areas:

Support and resistance levels are unquestionably among the most important of all technical considerations. They are areas, which prices are expected to have difficulty moving above and beyond (resistance and support), and they therefore deserve especially careful considerations in buying and selling decisions. Support areas are areas of price congestion or previous lows, below the current price, which mark support levels. A break below support would be considered bearish. Resistance areas are areas of congestion or previous highs above the current price which mark resistance levels. A break above resistance would be considered bullish. The basic idea behind resistance and support theory is simply that price levels that were significant in the past will have significant impact on price action in the future.

Random Walk Theory:

The basic "random walk premise" is that price movements are totally random. Prices move at random and adjust to new information as it comes available. The adjustment to this new information is so fast that it is virtually impossible to profit from it. Furthermore, news and events are also random and trying to predict these (fundamental analysis) is also a lesson in futility. While there are some good points to be gleaned from the random walk theory, it appears to be a bit dated and does not accurately reflect the current investment climate. Random walk theory was introduced over 25 years ago when institutions dominated the market. These institutions had superior access to resources and the individual was at the mercy of the large brokerage houses for quality research. With the advent of online trading, power and influence are shifting from the institutions to the individual. Resources are now widely available to all at minimal cost, if not free. Not only can individuals access information, but the internet ensures that everyone will receive it almost instantaneously. They also have access to real time data and can trade like the pros. With the availability of real time data and almost instant executions, individuals can act on information like never before.

General Chart Analysis:

What Are Charts?

A price chart is a sequence of prices plotted over a specific timeframe. In statistical terms, charts are referred to as time series plots, usually containing the open, high, low, and closing prices.

Chart Patterns:

Much of our understanding of chart patterns can be attributed to the work of Richard Schabacker. His 1932 classic, Technical Analysis and Stock Market Profits, laid the foundations for modern pattern analysis. In Technical Analysis of Stock Trends (1948), Edwards and Magee credit Schabacker for most of the concepts put forth in the first part of their book. We would also like to acknowledge Messrs. Schabacker, Edwards and Magee, and John Murphy as the driving forces behind our understanding of chart patterns.

Pattern analysis may seem straightforward, but it is by no means an easy task. Schabacker states: ?The science of chart reading, however, is not as easy as the mere memorizing of certain patterns and pictures and recalling what they generally forecast. Any general chart is a combination of countless different patterns, some being continuation patterns and some reversal patterns, and its accurate analysis depends upon constant study, long experience and knowledge of all the fine points, both technical and fundamental, and, above all, the ability to weigh opposing indications against each other, to appraise the entire picture in the light of its most minute and composite details as well as in the recognition of any certain and memorized formula.

To name just a few there are; Double tops and bottoms, Head and Shoulder tops and bottoms, Wedges, Flags, Triangles, Channels, Gaps (four types), Key Reversals, Island reversals, and more. There are also Candlestick charts which provide a different way of looking at, and analyzing, the same basic price data, open, high, low, and close.
A few other tools used on charts are Trend Lines, Support and Resistance areas, percentage retracements, Fibonacci retracements, Time cycles, Elliot Wave Theory Analysis, Gann Analysis, and more. Technical Indicator Analysis:

There are many ways to crunch the numbers and endless combinations. Here is a list of some of the more popular Technical Indicators:

Accumulation Distribution
Advance-Decline lines and ratios
Arms Index (TRIN)
Bollinger Bands
Commodity Channel Index
Moving Averages (of various types)
Moving Average Convergence Divergence
McClellan Osc
Momentum
On Balance Volume
Parabolic SAR
Relative Strength Index (RSI)
Stochastic (fast and slow)
Volatility

Markets move on anticipation, and often reverse on realization! A twist on the old stock market adage buys the rumor, sell the news.

Trade the expectation, reverse on the realization!

TRADING WITH FOREX.COM

noreply@blogger.com (Pradeep) — Thu, 17 Nov 2005 05:50:00 -0800

Click and Deal from Real-Time Streaming Quotes - with Instantaneous FillsAt FOREX.com, we've automated fills for ALL market orders. The system performs a real time margin check and instantaneously returns a trade confirmation. Why is this important to you? Automation means there's NO manual dealer intervention & NO requoting.

Many forex firms claim to offer "real time executable prices" or "live dealing rates". What these other firms don't say is that they only allow customers to initiate a trade request from the quote. Their dealers review trade requests manually, giving them the opportunity to reject any deal and requote a new price. Invariably, requotes tend to occur at the most inopportune of times, when you can least afford it. If you are subject to price requotes, the dealer is likely manipulating the price in their favor. Ask yourself, when was the last time you received a requote in your favor?

As a FOREX.com client you won't wait even a few seconds for a fill or have to endure requotes. It's that simple!
No Slippage on Market OrdersAt FOREX.com you will not receive a fill at any price other than the quoted bid or offer. More importantly, we stand behind this guarantee for ALL market orders, whether it's $10,000 or $10,000,000!

Many traders accept slippage as one of the realities of forex trading. It doesn't have to be. Even a few pips now and then add up quickly and eat into your trading profits. At FOREX.com, you can deal directly from our real-time streaming prices, and you'll always receive the current, at the market price on your forex trades.
Guaranteed Fills on Stop Loss and Limit OrdersOur no slippage policy extends to stop loss and limit orders. During FOREX.com's trading hours, all stop and limit orders up to $2 million are guaranteed to be filled at your price.* We understand that stop loss and limit orders are an important part of every trader's risk management strategy, and so we take this policy very seriously.

Fixed Dealing Spreads Under All Market ConditionsAs a division of GAIN Capital Group, FOREX.com clients routinely benefit from the size and strength of one of the world's largest online foreign exchange providers. With access to over $1 billion in liquidity from the world's leading FX banks, such as UBS, Deutsche Bank, Barclays and ABN AMRO, among others, FOREX.com is able to pass along wholesale pricing to our clients.

Clients deal on a fixed spread of 3 pips on EUR/USD and 3-5 pips on other major currency pairs. Bid/Offer spreads remain fixed 100% of the time under all market conditions - which includes times of high market volatility, before and after major economic releases, and following other important news and events.
It is important to remember that quality of execution is every bit as important as tight spreads. In other words, tight spreads are meaningless if you can't get filled at your price. This is a very subtle but important point, and we stand behind our commitment to provide both: competitive dealing spreads AND quality fills.
Limited Risk - No Negative BalancesAt FOREX.com, your risk is only limited to funds on deposit. Our margin policy eliminates concerns about debit balances by guaranteeing that you will never owe more than you have in your account.

Up to 200: 1 LeverageFOREX.com offers a flexible margin policy that allows you to choose the leverage that's right for you - all the way up to 200:1!
The leverage available in forex is one of the main advantages of this market, especially for futures and stock traders. Higher leverage is possible because of unparalleled size of the Forex market - at over $1.2 trillion a day, the volume of the Forex market dwarfs the U.S equity markets by more than 30x. The sheer amount of transactions done every day in the Forex market makes it highly liquid, which in turn causes price stability. These three factors support the use of higher leverage.
The higher the leverage, the more buying power you have. Leverage increases your total return on investment -- with less cash outlay. Of course, trading on margin magnifies both your profits AND your losses. For a more detailed description of trading on margin, click here.
Commission-Free TradingFor many, commission-free trading is one of the most attractive features of FOREX.com.**

Stock and futures traders find this hard to believe, but it's true. That's because stock and futures trading is done through a middleman - the broker - whose sole means of making money is by charging commissions. In contrast, when you deal with FOREX.com, you're dealing directly with a market maker. The cost of trading is built into the bid/ask spread found in all financial products. What's more, there are no exchange fees when dealing forex.
Choice of 3 Robust Trading Platforms for Desktop, Remote and Wireless TradingFOREX.com offers two platforms for desktop trading: FOREXTrader and FOREXTrader.web. Both offer a secure and robust environment in which to trade and manage your account. And with FOREXTrader.wireless, you can also access your account using your web-enabled phone, PDA, or Blackberry.
Best of all, one user ID and password gives you access to all three trading platforms. The result? As a FOREX.com client, you'll benefit from maximum flexibility and full access to your trading account, no matter where you are.

Find out more about the features of FOREX.com's trading platforms.
Superior System Stability and ReliabilityAt FOREX.com, we realize our clients are highly dependant on the availability of our systems. We maintain a powerful and highly fault tolerant server farm that is specifically designed to support our 24-hour trading environment, with 100% uptime. Our systems employ a LIVE-LIVE horizontal redundancy model in their design and execution, and a team of system infrastructure specialists provide round the clock system support. Redundant systems extend beyond just technology; our entire trading floor has been replicated at a disaster recovery site within 10 minutes of our primary site.
24-hour Customer ServiceOur dedicated customer service team provides 24-hour support via phone, email and live chat. We support clients from every time zone and employ a multilingual staff to assist our clients in Spanish, French, Italian, Portuguese, , Russian, Hindi, Cantonese and Mandarin among others.
Registered Futures Commission MerchantFOREX.com is a subsidiary of GAIN Capital Group, a registered Futures Commission Merchant (NFA ID #0339826), regulated by the Commodity Futures Trading Commission (CFTC). As an FCM, GAIN must uphold the highest standards and business practices and is subject to strict financial requirements and reporting. You can visit the NFA web site at any time to review GAIN Capital's unblemished record as an NFA member.

Safety of FundsAt FOREX.com, we realize that safety of funds is a major concern for investors. As a result, we've taken several important measures to ensure the utmost safety of customer deposits.FOREX.com is a division of GAIN Capital Group. GAIN Capital Group's financial footing is strong, with a steadily increasing balance sheet. The firm's Total Net Adjusted Capital, as reported to the CFTC and the NFA, is 60 times more than the minimum net capital requirement of $250,000.*** Net Adjusted Capital represents GAIN Capital Group's own operating funds, not customer funds on deposit. Importantly, all customer funds are strictly segregated from GAIN's operating funds in separate bank accounts.GAIN Capital Group is regulated by the Commodity Futures Trading Commission and is a member of the National Futures Association (NFA). As a registered Futures Commission Merchant (NFA ID #0339826), GAIN Capital Group and its subsidiaries must uphold the highest standards and business practices andare subject to strict financial requirements and reporting.

All FCMs must adhere to strict rules and regulations to protect customer funds, including Minimum Net Capital requirements based on customer's open positions. GAIN Capital Group submits financial data to the CFTC and the NFA on a monthly basis.GAIN's operating and risk management procedures as well as financial statements are audited by the Big Four accounting firm, Deloitte & Touche.Finally, GAIN holds supplemental insurance policies to further protect customer funds against failure of service, dishonesty, forgery, alteration etc. A Financial Institution Bond is held through the National Union Fire Insurance Company and the Bankers Professional Liability policy is held through Lexington Insurance Company (both member companies of American International Group).

SPREADS AND MARGINS

noreply@blogger.com (Pradeep) — Sat, 29 Oct 2005 15:55:00 -0700

Trade Size

On the FXCM trading platform all trades are executed in standard sizes of 100,000 base currency per one lot. There is no maximum trading volume, however, for trading sizes larger than $10,000,000, traders must request a quote over the telephone. Here are some examples:
U.S. Dollar/Japanese Yen (100,000 U.S. Dollars)
Euro/U.S. Dollar (100,000 Euros)
Euro/Great Britain Pound (100,000 Euros)
Euro/Japanese Yen (100,000 Euros) Smaller trade size available via the FXCM Mini account.

FXCM enables currency trading to be conducted on a highly leveraged basis. Every trader is able to select the degree of leverage or gearing that the trader wishes to employ in trading. Unless the trader specifies otherwise, FXCM sets the leverage level at FXCM's default margin level for the deposited amount. The requirements for leverage vary with account size, and may be changed from time to time at the sole discretion of the dealing desk, based on volume traded and market conditions.

Up to 100:1 Leverage

Clients must have approximately 1% of the value of the positions they hold in their account for each lot of currency being traded (approximately 100:1 leverage). This equates to $1000 per lot (100,000 units). This amount does not change after 5:00 PM New York time, which is the rollover cut off, but stays constant at approximately 1% per lot the entire day and overnight.
Margin Watcher

There is also an important safety feature imbedded in this system that prevents clients from losing more money than they have in the account. Should the account equity -- meaning the total floating value of the account -- fall below the margin requirement of approximately 1% per lot, the dealing desk will close all positions. This protects the trader from losing more than the funds deposited into the trading account.
Rollover/Interest Policy

At 5:00 PM New York Time, funds are subtracted or added to accounts with open positions because of the automatic rollover. For accounts that have a margin requirement of 2% or more, funds are added to the account for positions in which the client is long (holding) the currency bearing the higher interest rate. Funds are deducted in the opposite circumstance. For accounts that do not have a 2% margin requirement, the rollover amount is deducted from the account for each position regardless of the account's holdings. This 2% margin requirement is the most generous policy available to traders in the forex industry, as many firms require 3-5% minimum margin before traders can benefit from rollover. Note: On Wednesdays, the amount added or subtracted to an account as a result of rolling over a position tends to be around three times the usual amount. This "3-Day" rollover accounts for settlement of trades through the weekend period. Why does Rollover take place?In the spot forex market, trades must be settled in two business days.

If a trader sells 100,000 euros on Tuesday, the trader must deliver 100,000 euros on Thursday, unless the position is rolled over. As a service to our traders, FXCM automatically rolls over all open positions to the next settlement date at 5:00 PM New York time. Rollover involves exchanging the position being held for a position expiring the following settlement date. The positions being exchanged are usually not valued at the same price. The amount of the difference varies greatly based on the currency pair, the interest rate differential between the two currencies, and fluctuates day to day with the movement of prices.

Types of Orders

The trading platform provides sophisticated order entry and tracking of market orders, entry orders, stop/limit entry orders, and stop-loss orders. All of the above orders are Good Until Cancelled (GTC), which is valid until the order is executed or cancelled.
Deposit Options

In addition to the US dollar, traders have the option of depositing funds and viewing all trading information in EUR, GBP, or JPY. For European and Asian clients in particular, this option will be of great convenience in handling all the administrative duties of trading -- thus allowing traders to focus more of their attention and energy on analyzing and profiting from market movements.

Margin: Managing your Risk in the FX Market

By trading on margin, traders have the ability control positions much larger than there deposit. The margin deposit for leverage is not a down payment on a purchase of equity, as many perceive margins to be in the stock markets. Rather, the margin is a performance bond, or good faith deposit, to ensure against trading losses. This is very useful to short-term day traders who need the enhancement in capital to generate quick returns. However, leverage is a double-edged sword. Without proper risk management, this high degree of leverage can lead to large losses as well as gains. To help manage your risk,

FXCM offers a unique margin watcher feature, which is embedded in the platform. If the equity in your account drops below the margin required to maintain your open positions, the dealing desk will close all open positions. This guarantees limited risk. You also have the ability to track your margin in real time. In the accounts window you will see two columns: used margin and usable margin. The used margin indicates funds currently pledged towards open positions. You can think of usable margin as your "wiggle" room. Once usable margin reaches zero, a margin call will ensue and all open positions will be closed by the dealing desk. To learn more about the margin watcher feature please contact the FXCM staff, which is available 24-hours a day, 7 days a week to walk you through the trading station.

Why Take the FX Power Course?

noreply@blogger.com (Pradeep) — Thu, 15 Sep 2005 08:32:00 -0700

Superior Execution

FXCM guarantees FIXED spreads.*Other brokers claim to offer 3 pip spreads yet widen the spreads up to 10 pips (and more). This frequently occurs during fast moving markets, or thinly traded markets such as the Asian trading session. Even worse is the fact that most brokers only honor their prices when the trader is wrong, and almost never when prices are moving in his/her favor.

At FXCM you receive NO SLIPPAGE on stops and limits REGARDLESS of trade size.**Other brokers claim to guarantee fills on stop orders but if you check the fine print they only back this claim for small trade sizes during normal market conditions. Many brokers routinely execute stops 5 to 15 pips away from the stop price.

FXCM never freezes its prices. FXCM quotes aggressively at all times, giving traders a fair chance to TRADE during MARKET NEWS.Other brokers do not allow you to trade on big market making news -- they freeze their prices or widen their spreads when the market is volatile. 80% of FX volume occurs during the busiest times, thus, it defeats the purpose of tight spreads to have them only during “normal” market conditions.

*FXCM maintains fixed spreads during normal market conditions. ** All stop-loss, limit and entry orders are guaranteed against slippage except in extraordinarily volatile market conditions. All quotes and trades are subject to the terms and conditions of the Client Agreement accessible through this website.
Safety of Funds

FXCM is part of the Refco Group -- a 20 billion dollar company. Traders can be confident that FXCM is here to stay despite increasing volatility, economic adjustments, and an ever-changing business landscape.Other brokers are small and undercapitalized and thus risky to place funds with.

Size matters. The broker you align yourself with is the counterparty to EVERY transaction. FXCM is one of the largest non-bank FCM* in the world that specializes solely in spot FX. Smaller firms have limited access to the Interbank market and hence may not be able to fulfill the obligations of their clients' forex transactions. Small firms also face difficulties modernizing their technology infrastructure as well as keeping it safe and secure.

As a vocal advocate of foreign exchange regulation and increased investor protection, FXCM is the only firm regulated in the United States, Hong Kong and the United Kingdom.FXCM Group is required to meet the strictest regulatory requirements of British and Hong Kong regulators that have been overseeing the retail FX markets for over a decade and have very high capital adequacy and business standards, requirements that most of our competitors could not hope to meet. In addition, FXCM meets all US CFTC mandated requirements. To further ensure the safety of client funds, FXCM has purchased a Financial Institution Bond 14 (FIB 14)
Policy. This policy protects FXCM from various types of fraud, theft, and embezzlement, including from its own employees. This bond does not, however, insure against trading related risk exposure.

Why enroll in the Euro Trading Strategy Workshop?

The Euro /US Dollar, the world's most traded currency pair has fluctuated over 55% since the beginning of 2002.Would you liked to have bought the Euro/US Dollar at 0.82 and sold at 1.36? The Euro/ US Dollar exchange rate will continue to provide many opportunities, if you have the right trading strategies. Now, for the first time ever, you can learn the favorite euro trading strategies of FXCM's world class research team.

Learn 3 GREAT Euro Trading Strategies developed and tested by FXCM's Research Team
Each Strategy Clearly Explained By Forex Experts In Live Online Workshop Environment
Strategies will help you find trades in ALL market conditions
Be Able To Trade The Strategies ImmediatelyYou will be able to immediately put strategies into effect and trade the Euro.

Why Take the FX Power Course?
Expert Training. The FX Power Course instructors are seasoned traders with years of market experience. Instructors are encouraged to trade forex themselves and put to test what they teach. If you have a question or want personalized feedback, instructors are available around the clock to guide you while you learn to trade!
Interactive instruction and feedback. The course instructors will issue you a special demo account and give you constructive feedback on your trades. Because the course operates 24 hours a day you can ask questions and receive immediate response, regardless of where you live or when you trade!

Learn from the successes of other traders. FXCM has serviced over 50,000 accounts and we have seen what works for some traders and what causes others to fail. The FX Power Course teaches the secrets of these profitable traders.

Money Back Guarantee Policy. have a money back Guarantee Policy. If you are not completely satisfied with the course, you can cancel anytime before half of the course is completed and receive 100% of your money back.

Learn from the failures of other traders. We also teach you what NOT to do! Bypass costly "beginner" mistakes. We will teach you what to watch out for and what to avoid - before you trade with real money!

FOREX TRADING

noreply@blogger.com (Pradeep) — Wed, 14 Sep 2005 04:54:00 -0700

Technical analysis :is a method of forecasting price movements by looking at purely market-generated data. Price data from a particular market is most commonly the type of information analyzed by a technician, though most will also keep a close watch on volume and open interest in futures contracts. The bottom line when utilizing any type of analytical method, technical or otherwise, is to stick to the basics, which are methodologies with a proven track record over a long period. After finding a trading system that works for you, the more esoteric fields of study can then be incorporated into your trading toolbox.

Almost every trader uses some form of technical analysis. Even the most reverent follower of market fundamentals is likely to glance at price charts before executing a trade. At their most basic level, these charts help traders determine ideal entry and exit points for a trade. They provide a visual representation of the historical price action of whatever is being studied. As such, traders caThe Foreign Exchange market, also referred to as the "Forex" or "FX" market is the largest financial market in the world, with a daily average turnover of US$1.9 trillion -- 30 times larger than the combined volume of all U.S. equity markets.
"Foreign Exchange" is the simultaneous buying of one currency and selling of another. Currencies are traded in pairs, for example Euro/US Dollar (EUR/USD) or US Dollar/Japanese Yen (USD/JPY).
There are two reasons to buy and sell currencies. About 5% of daily turnover is from companies and governments that buy or sell products and services in a foreign country or must convert profits made in foreign currencies into their domestic currency. The other 95% is trading for profit, or speculation.
For speculators, the best trading opportunities are with the most commonly traded (and therefore most liquid) currencies, called "the Majors." Today, more than 85% of all daily transactions involve trading of the Majors, which include the US Dollar, Japanese Yen, Euro, British Pound, Swiss Franc, Canadian Dollar and Australian Dollar.
A true 24-hour market, Forex trading begins each day in Sydney, and moves around the globe as the business day begins in each financial center, first to Tokyo, London, and New York. Unlike any other financial market, investors can respond to currency fluctuations caused by economic, social and political events at the time they occur - day or night.
The FX market is considered an Over The Counter (OTC) or 'interbank' market, due to the fact that transactions are conducted between two counterparts over the telephone or via an electronic network. Trading is not centralized on an exchange, as with the stock and futures markets.
More informationFor more background about the Foreign Exchange market, review the Federal Reserve Banks' look at a chart and know if they are buying at a fair price (based on the price history of a particular market), selling at a cyclical top or perhaps throwing their capital into a choppy, sideways market. These are just a few market conditions that charts identify for a trader. Depending on their level of sophistication, charts can also help much more advanced studies of the markets.

On the surface, it might appear that technicians ignore the fundamentals of the market while surrounding themselves with charts and data tables. However, a technical trader will tell you that all of the fundamentals are already represented in the price. They are not so much concerned that a natural disaster or an awful inflation number caused a recent spike in prices as much as how that price action fits into a pattern or trend. And much more to the point, how that pattern can be used to predict future prices.
Technical analysis assumes that:

All market fundamentals are depicted in the actual market data. So the actual market fundamentals and various factors, such as the differing opinions, hopes, fears, and moods of market participants, need not be studied.
History repeats itself and therefore markets move in fairly predictable, or at least quantifiable, patterns. These patterns, generated by price movement, are called signals. The goal in technical analysis is to uncover the signals given off in a current market by examining past market signals.
Prices move in trends. Technicians typically do not believe that price fluctuations are random and unpredictable. Prices can move in one of three directions, up, down or sideways. Once a trend in any of these directions is established, it usually will continue for some period.

The building blocks of any technical analysis system include price charts, volume charts, and a host of other mathematical representations of market patterns and behaviors. Most often called studies, these mathematical manipulations of various types of market data are used to determine the strength and sustainability of a particular trend. So, rather than simply relying on price charts to forecast future market values, technicians will also use a variety of other technical tools before entering a trade.
As in all other aspects of trading, be very disciplined when using technical analysis. Too often, a trader will fail to sell or buy into a market even after it has reached a price that his or her technical studies identified as an entry or exit point. This is because it is hard to screen out the fundamental realities that led to the price movement in the first place.

As an example, let's assume you are long USD vs. euro and have established your stop/loss 30 pips away from your entry point. However, if some unforeseen factor is responsible for pushing the USD through your stop/loss level you might be inclined to hold this position just a bit longer in the hopes that it turns back into a winner. It is very hard to make the decision to cut your losses and even harder to resist the temptation to book profits too early on a winning trade. This is called leaving money on the table. A common mistake is to ride a loser too long in the hopes it comes back and to cut a winner way too early. If you use technical analysis to establish entry and exit levels, be very disciplined in following through on your original trading plan.
Price chartsChart patternsThere are a variety of charts that show price action. The most common are bar charts.

Each bar will represent one period of time and that period can be anything from one minute to one month to several years. These charts will show distinct price patterns that develop over time.
Candlestick patternsLike bar charts patterns, candlestick patterns can be used to forecast the market. Because of their colored bodies, candlesticks provide greater visual detail in their chart patterns than bar charts.
Point & figure patternsPoint and figure patterns are essentially the same patterns found in bar charts but Xs and Os are used to market changes in price direction. In addition, point and figure charts make no use of time scales to indicate the particular day associated with certain price action.

Technical IndicatorsHere are a few of the more common types of indicators used in technical analysis:
Trend indicatorsTrend is a term used to describe the persistence of price movement in one direction over time. Trends move in three directions: up, down and sideways. Trend indicators smooth variable price data to create a composite of market direction. (Example: Moving Averages, Trend lines)
Strength indicatorsMarket strength describes the intensity of market opinion with reference to a price by examining the market positions taken by various market participants. Volume or open interest are the basic ingredients of this indicator. Their signals are coincident or leading the market. (Example: Volume)

Volatility indicatorsVolatility is a general term used to describe the magnitude, or size, of day-to-day price fluctuations independent of their direction. Generally, changes in volatility tend to lead changes in prices. (Example: Bollinger Bands)

Cycle indicatorsA cycle is a term to indicate repeating patterns of market movement, specific to recurrent events, such as seasons, elections, etc. Many markets have a tendency to move in cyclical patterns. Cycle indicators determine the timing of a particular market patterns. (Example: Elliott Wave)
Support/resistance indicatorsSupport and resistance describes the price levels where markets repeatedly rise or fall and then reverse. This phenomenon is attributed to basic supply and demand. (Example: Trend Lines)

Momentum indicatorsMomentum is a general term used to describe the speed at which prices move over a given time period. Momentum indicators determine the strength or weakness of a trend as it progresses over time. Momentum is highest at the beginning of a trend and lowest at trend turning points. Any divergence of directions in price and momentum is a warning of weakness; if price extremes occur with weak momentum, it signals an end of movement in that direction. If momentum is trending strongly and prices are flat, it signals a potential change in price direction. (Example: Stochastic, MACD, RSI)

Click and Deal from Real-Time Streaming Quotes -with Instantaneous FillsAt FOREX.com, we've automated fills for ALL market orders. The system performs a real time margin check and instantaneously returns a trade confirmation. Why is this important to you? Automation means there's NO manual dealer intervention & NO requoting.
Many forex firms claim to offer "real time executable prices" or "live dealing rates". What these other firms don't say is that they only allow customers to initiate a trade request from the quote. Their dealers review trade requests manually, giving them the opportunity to reject any deal and requote a new price. Invariably, requotes tend to occur at the most inopportune of times, when you can least afford it. If you are subject to price requotes, the dealer is likely manipulating the price in their favor. Ask yourself, when was the last time you received a requote in your favor?
As a FOREX.com client you won't wait even a few seconds for a fill or have to endure requotes. It's that simple!
No Slippage on Market OrdersAt FOREX.com you will not receive a fill at any price other than the quoted bid or offer. More importantly, we stand behind this guarantee for ALL market orders, whether it's $10,000 or $10,000,000!
Many traders accept slippage as one of the realities of forex trading. It doesn't have to be. Even a few pips now and then add up quickly and eat into your trading profits. At FOREX.com, you can deal directly from our real-time streaming prices, and you'll always receive the current, at the market price on your forex trades.
Guaranteed Fills on Stop Loss and Limit OrdersOur no slippage policy extends to stop loss and limit orders. During FOREX.com's trading hours, all stop and limit orders up to $2 million are guaranteed to be filled at your price.* We understand that stop loss and limit orders are an important part of every trader's risk management strategy, and so we take this policy very seriously.

Fixed Dealing Spreads Under All Market ConditionsAs a division of GAIN Capital Group, FOREX.com clients routinely benefit from the size and strength of one of the world's largest online foreign exchange providers. With access to over $1 billion in liquidity from the world's top FX banks, FOREX.com is able to pass along bank level pricing to our clients.

FOREX.com offers standard clients a fixed dealing spread of 3 pips on EUR/USD and 3-5 pips on other major currency pairs. FOREX.com will not widen spreads under any market condition - including before and after major economic releases or other important news and events.
It is important to remember that quality of execution is every bit as important as tight spreads. In other words, tight spreads are meaningless if you can't get filled at your price. This is a very subtle but important point, and we stand behind our commitment to provide both: competitive dealing spreads AND quality fills.
Limited Risk - No Negative BalancesAt FOREX.com, your risk is only limited to funds on deposit. Our margin policy eliminates concerns about debit balances by guaranteeing that you will never owe more than you have in your account.

Up to 200: 1 LeverageFOREX.com offers a flexible margin policy that allows you to choose the leverage that's right for you - all the way up to 200:1!
The leverage available in forex is one of the main advantages of this market, especially for futures and stock traders. Higher leverage is possible because of unparalleled size of the Forex market - at over $1.2 trillion a day, the volume of the Forex market dwarfs the U.S equity markets by more than 30x. The sheer amount of transactions done every day in the Forex market makes it highly liquid, which in turn causes price stability. These three factors support the use of higher leverage.

The higher the leverage, the more buying power you have. Leverage increases your total return on investment -- with less cash outlay. Of course, trading on margin magnifies both your profits AND your losses. For a more detailed description of trading on margin
Commission-Free TradingFor many, commission-free trading is one of the most attractive features of FOREX.com.**

Stock and futures traders find this hard to believe, but it's true. That's because stock and futures trading is done through a middleman - the broker - whose sole means of making money is by charging commissions. In contrast, when you deal with FOREX.com, you're dealing directly with a market maker. The cost of trading is built into the bid/ask spread found in all financial products. What's more, there are no exchange fees when dealing forex.
Choice of 3 Robust Trading Platforms for Desktop, Remote and Wireless TradingFOREX.com offers two platforms for desktop trading: FOREXTrader and FOREXTrader.web. Both offer a secure and robust environment in which to trade and manage your account. And with FOREXTrader.wireless, you can also access your account using your web-enabled phone, PDA, or Blackberry.

Best of all, one user ID and password gives you access to all three trading platforms. The result? As a FOREX.com client, you'll benefit from maximum flexibility and full access to your trading account, no matter where you are.
Find out more about the features of FOREX.com's .Superior System Stability and ReliabilityAt FOREX.com, we realize our clients are highly dependant on the availability of our systems. We maintain a powerful and highly fault tolerant server farm that is specifically designed to support our 24-hour trading environment, with 100% uptime. Our systems employ a LIVE-LIVE horizontal redundancy model in their design and execution, and a team of system infrastructure specialists provide round the clock system support. Redundant systems extend beyond just technology; our entire trading floor has been replicated at a disaster recovery site within 10 minutes of our primary site.

24-hour Customer ServiceOur dedicated customer service team provides 24-hour support via phone, email and live chat. We support clients from every time zone and employ a multilingual staff to assist our clients in Cantonese, Japanese, Russian, Hindi and Mandarin among others.
Registered Futures Commission MerchantFOREX.com is a subsidiary of GAIN Capital Group, a registered Futures Commission Merchant (NFA ID #0339826), regulated by the Commodity Futures Trading Commission (CFTC). As an FCM, GAIN must uphold the highest standards and business practices and is subject to strict financial requirements and reporting. You can visit the at any time to review GAIN Capital's unblemished record as an NFA member.

Safety of FundsAt FOREX.com, we realize that safety of funds is a major concern for investors. As a result, we've taken several important measures to ensure the utmost safety of customer deposits.FOREX.com is a division of GAIN Capital Group. GAIN Capital Group's financial footing is strong, with a steadily increasing balance sheet. The firm's Total Net Adjusted Capital, as reported to the CFTC and the NFA, is 60 times more than the minimum net capital requirement of $250,000.*** Net Adjusted Capital represents GAIN Capital Group's own operating funds, not customer funds on deposit. Importantly, all customer funds are strictly segregated from GAIN's operating funds in separate bank accounts.GAIN Capital Group is regulated by the Commodity Futures Trading Commission and is a member of the National Futures Association (NFA). As a registered Futures Commission Merchant (NFA ID #0339826), GAIN Capital Group and its subsidiaries must uphold the highest standards and business practices andare subject to strict financial requirements and reporting. All FCMs must adhere to strict rules and regulations to protect customer funds, including Minimum Net Capital requirements based on customer's open positions. GAIN

Capital Group submits financial data to the CFTC and the NFA on a monthly basis.GAIN's operating and risk management procedures as well as financial statements are audited by the Big Four accounting firm, Deloitte & Touche.Finally, GAIN holds supplemental insurance policies to further protect customer funds against failure of service, dishonesty, forgery, alteration etc. A Financial Institution Bond is held through the National Union Fire Insurance Company and the Bankers Professional Liability policy is held through Lexington Insurance Company (both member companies of American International Group).

The Foreign Exchange market, also referred to as the "Forex" or "FX" market is the largest financial market in the world, with a daily average turnover of US$1.9 trillion -- 30 times larger than the combined volume of all U.S. equity markets.
"Foreign Exchange" is the simultaneous buying of one currency and selling of another. Currencies are traded in pairs, for example Euro/US Dollar (EUR/USD) or US Dollar/Japanese Yen (USD/JPY).
There are two reasons to buy and sell currencies. About 5% of daily turnover is from companies and governments that buy or sell products and services in a foreign country or must convert profits made in foreign currencies into their domestic currency. The other 95% is trading for profit, or speculation.

For speculators, the best trading opportunities are with the most commonly traded (and therefore most liquid) currencies, called "the Majors." Today, more than 85% of all daily transactions involve trading of the Majors, which include the US Dollar, Japanese Yen, Euro, British Pound, Swiss Franc, Canadian Dollar and Australian Dollar.
A true 24-hour market, Forex trading begins each day in Sydney, and moves around the globe as the business day begins in each financial center, first to Tokyo, London, and New York.

Unlike any other financial market, investors can respond to currency fluctuations caused by economic, social and political events at the time they occur - day or night.
The FX market is considered an Over The Counter (OTC) or 'interbank' market, due to the fact that transactions are conducted between two counterparts over the telephone or via an electronic network. Trading is not centralized on an exchange, as with the stock and futures markets.
More informationFor more background about the Foreign Exchange market, review the Federal Reserve Banks' "All About the Foreign Exchange Markets in the United States"

Active FX Traders

noreply@blogger.com (Pradeep) — Thu, 8 Sep 2005 20:55:00 -0700

FOREX-Dollar extends gains as US rates seen rising

TOKYO, Sept 9 (Reuters) - The dollar edged up on Friday, sticking to a week-long recovery path as more investors concluded the Federal Reserve would keep raising interest rates despite the devastation wrought by Hurricane Katrina.

The U.S. currency has recovered about two cents against the euro since it hit a three-month low last Friday, and has regained nearly two yen since marking its lowest level versus the Japanese currency in two and a half months on Monday.

Those lows were struck amid concerns about the economic impact of Katrina on the U.S. economy and worries that the Fed, after lifting rates 10 straight times, might pause at its next meeting on Sept. 20.

But such concerns have eased amid a chorus of comments from top Fed officials that the best way to help the U.S. economy recover from Katrina is to keep inflation in check.

Still, traders said the market was mindful of soaring oil prices and the expected deterioration to the budget deficit caused by massive reconstruction after the hurricane.

" In broad terms there's two camps fighting over whether we think the dollar's going to benefit or lose ground," said Luke Waddington, head of forex trading at Royal Bank of Scotland in Tokyo.

"This sort of second guessing (in the market) will continue until we actually see what the real impact of the situation is going to be on the U.S."

In early Asian trade, the euro bought around $1.2385, down from $1.2397 in late U.S. trade on Thursday, when it fell 0.2 percent.

The dollar fetched 110.70 yen (JPY=>, up from around 110.50 yen. It rose 0.4 percent against the Japanese currency on Thursday.

The latest Fed official to weigh in on Katrina was San Francisco Fed President Janet Yellen, who said late on Thursday that the best thing the Fed could do was to ensure the stability of the national economy.

She also said monetary policy "has little scope to cushion the immediate economic fallout from such a severe and sudden blow to a region" in the short run, suggesting to some the Fed would continue with its series of rate rises.

Helping to cap the dollar's rise against the yen were expectations the yen could gain next week following a general election at the weekend that will probably result in victory for Japanese Prime Minister Junichiro Koizumi and his reform agenda.

However, some traders said the dollar could get a lift if investors, who had been betting on Koizumi's victory and buying the yen, started to unwind their yen holdings.

RENTOKIL'S TOP INVESTOR SUPPORTS RAPHOE BID

Franklin Templeton, the largest shareholder in beleaguered support services operator Rentokil Initial, has come out in support of an audacious takeover bid for the firm by Sir Gerry Robinson. Franklin Templeton holds 14.75 percent of Rentokil and stated that it considers Robinson's offer, where he would return 630 million pounds to shareholders and install himself as executive chairman for a minimum three years, as "very interesting". However, Robinson does not propose to put any cash in Rentokil through his Raphoe Management investment vehicle, which has said that it may consider making a hostile bid for Rentokil, if its initial offer is rebuffed.

After the Bell - Intel, Delphi shares decline

NEW YORK, Sept 8 (Reuters) - Shares of chip maker Intel Corp fell 34 cents to $25.75 from their Nasdaq close of $26.09 after it narrowed its target range for quarterly revenue.

The company expects revenue to be in the range of $9.8 billion to $10 billion, narrowing a forecast it issued in July calling for revenue of $9.6 billion to $10.2 billion.

Shares of Delphi Corp were down 2.7 percent to $4.37 on the electronic Inet brokerage screen after it scrapped its quarterly dividend.

Trade, Compete, and Win - Begins the 1st of Every Month!

Each month over $4000 will be awarded to the top 5 mini account holders with the highest percentage gain. This is NOT a demo contest- this is a live trading competition open to all live mini account holders. At the beginning of each month, the slate is wiped clean and traders have a new opportunity to win the monthly prizes.What makes this contest unique? All prizes are CASH prizes with no restrictions on withdrawing the prize money! Contest Rules Prior to trading live, FXCM recommends that you open a Mini demo account in order to become familiar with the FX Trading Station. Open a free Mini account
How Does the Contest Work?
The contest begins at 5:00 PM EST on the 1st trading day of each month and ends at 4:59 PM EST on the close of the last trading day of the month. The winners will be determined by calculating the highest percentage gain each month. Percentage gain will be based on ending gross P/L (including floating P/L) as a ledger balance against the beginning balance for the calendar month. Winners will be announced by the 10th of the following month.
How Do I Enter?
There is NO registration form or entry fee required. All live FXCM Mini

Why Take the FX Power Course?
Expert Training. The FX Power Course instructors are seasoned traders with years of market experience. Instructors are encouraged to trade forex themselves and put to test what they teach. If you have a question or want personalized feedback, instructors are available around the clock to guide you while you learn to trade!

Interactive instruction and feedback. The course instructors will issue you a special demo account and give you constructive feedback on your trades. Because the course operates 24 hours a day you can ask questions and receive immediate response, regardless of where you live or when you trade!
Learn from the successes of other traders. FXCM has serviced over 50,000 accounts and we have seen what works for some traders and what causes others to fail. The FX Power Course teaches the secrets of these profitable traders. Learn the secrets to their success!
Money Back Guarantee Policy. Both Courses have a money back Guarantee Policy. If you are not completely satisfied with the course, you can cancel anytime before half of the course is completed and receive 100% of your money back.
Learn from the failures of other traders. We also teach you what NOT to do! Bypass costly "beginner" mistakes. We will teach you what to watch out for and what to avoid - before you trade with real money! Learn More

Superior Execution
FXCM guarantees FIXED spreads.*Other brokers claim to offer 3 pip spreads yet widen the spreads up to 10 pips (and more). This frequently occurs during fast moving markets, or thinly traded markets such as the Asian trading session. Even worse is the fact that most brokers only honor their prices when the trader is wrong, and almost never when prices are moving in his/her favor.
At FXCM you receive NO SLIPPAGE on stops and limits REGARDLESS of trade size.**Other brokers claim to guarantee fills on stop orders but if you check the fine print they only back this claim for small trade sizes during normal market conditions. Many brokers routinely execute stops 5 to 15 pips away from the stop price.
FXCM never freezes its prices. FXCM quotes aggressively at all times, giving traders a fair chance to TRADE during MARKET NEWS.Other brokers do not allow you to trade on big market making news -- they freeze their prices or widen their spreads when the market is volatile. 80% of FX volume occurs during the busiest times, thus, it defeats the purpose of tight spreads to have them only during “normal” market conditions.
*FXCM maintains fixed spreads during normal market conditions. ** All stop-loss, limit and entry orders are guaranteed against slippage except in extraordinarily volatile market conditions. All quotes and trades are subject to the terms and conditions of the Client Agreement accessible through this website.
Safety of Funds
FXCM is part of the Refco Group -- a 20 billion dollar company. Traders can be confident that FXCM is here to stay despite increasing volatility, economic adjustments, and an ever-changing business landscape.Other brokers are small and undercapitalized and thus risky to place funds with.
Size matters. The broker you align yourself with is the counterparty to EVERY transaction. FXCM is one of the largest non-bank FCM* in the world that specializes solely in spot FX. Smaller firms have limited access to the Interbank market and hence may not be able to fulfill the obligations of their clients' forex transactions. Small firms also face difficulties modernizing their technology infrastructure as well as keeping it safe and secure.
As a vocal advocate of foreign exchange regulation and increased investor protection, FXCM is the only firm regulated in the United States, Hong Kong and the United Kingdom.FXCM Group is required to meet the strictest regulatory requirements of British and Hong Kong regulators that have been overseeing the retail FX markets for over a decade and have very high capital adequacy and business standards, requirements that most of our competitors could not hope to meet. In addition, FXCM meets all US CFTC mandated requirements. To further ensure the safety of client funds, FXCM has purchased a Financial Institution Bond 14 (FIB 14) Policy. This policy protects FXCM from various types of fraud, theft, and embezzlement, including from its own employees. This bond does not, however, insure against trading related risk exposure.
*According to the financial information posted by the CFTC at http://www.cftc.gov/tm/tmfcm.htm.
Unparalleled 24/7 Customer Support
FXCM employs over 300 salaried and dedicated FX Professionals with expertise in fields including charts, technical analysis and the fundamentals of trading FX. All employees are salaried, and there are no commission brokers on staff.Other brokers employ commission based salesman that use hard sales tactics and gimmicks to lure in new accounts. We have product specialists to help you choose from over a dozen different and independent charting options and navigate through the hundreds of web based resources available for FX traders on the internet.
FXCM runs 24-hour live support. You can always reach a real person with expertise in dealing, sales, technical support and operations -- even on weekends.Most brokers claim to provide 24-hour support, but actually only run a skeleton crew that is unable to resolve major problems outside regular business hours. FXCM is the only firm with a large in house trader education division as well as support in 15 languages.
Affiliate headquarters in New York, Tokyo, London and Hong Kong create a global infrastructure allowing FXCM to provide exceptional service to traders around the world.New York (Headquarters): Sales, operations, dealing, and research run on a 24-hour basis to enable quick solutions for clients around the world. Hong Kong: 24-hour sales and customer support in Mandarin, Cantonese and English, a Chinese language research department and a fully staffed 24-hour dealing room. Tokyo: 24-hour sales and customer support and a Japanese language research department. London: Sales, operations and customer support during London business hours.

Dollar Euro Currency Exchange

noreply@blogger.com (Pradeep) — Tue, 16 Aug 2005 04:58:00 -0700

This article provides an overview of the factors affecting the the leading currency pair: Euro-Dollar exchange, commonly expressed as EUR/USD.
The Euro to Dollar exchange rate is the price at which the world demand for US Dollar equals the world supply for Euro. Regardless of geographical origin, a rise in the world demand for Euros leads to an appreciation of the Euro.
Factors Affecting Exchange Rates

Four factors are identified as fundamental determinants of the real Euro to Dollar exchange rate:

The international real interest rate differential
Relative prices in the traded and non-traded goods sectors
The real oil price
The relative fiscal position

The nominal bilateral Dollar to Euro exchange is the one exchange rate that attracts most attention. Notwithstanding the comparative importance of Euro to US Dollar bilateral trade links, trade with the UK is to some extent more important for the Euro zone than is trade with the US. The Dollar and the Euro have a strong predisposition to work together in the very short run, but sometimes there can be significant discrepancies. The very strong appreciation of the Dollar against the Euro in 2003 is an example of the discrepancies.

In the long run, the correlation between the bilateral Dollar to Euro exchange rate and different measures of the effective exchange rate of Euroland has been rather high, especially if one looks at the effective real exchange rate. As inflation is at very similar levels in the US and the Euro area, there is no need to adjust the Dollar to Euro rate for inflation differentials, but as the Euro zone also trades intensively with countries that had relative high inflation rates (e.g. some countries in Central and Eastern Europe, Turkey, etc.), it is more important to collapse nominal exchange rate measures by relative price and cost developments

Fall of the Dollar
The significant (though steady and orderly) collapse of the Dollar from early 2002 to early 2004 against the Euro, Australian Dollar, Canadian Dollar and a few other currencies, its trade-weighted average, which is what counts for purposes of trade adjustment, has only fallen by about 10 percent.

There are two reasons why concerns about a free fall of the Dollar should not be worth consideration. The first is that the US external deficit will stay high only if US growth remains vigorous. But if the US continues to grow strongly, it will also retain a strong attraction for foreign capital, which should support the Dollar. The second reason is that the attempts of the monetary authorities in Asia to keep their currencies weak will probably not work.The Basic Theories Underlying the Exchange Rate Dollar to Euro:

Law of One Price: In competitive markets free of transportation costs barriers to trade, identical products sold in different countries must sell at the same price when the prices are conveyed in terms of their same currency.
Interest rate effects: If capital is allowed to flow freely, the exchange rates become stable at a point where equality of interest is established.

The dual forces of demand and supply determine euro vs. dollar exchange rates. Various factors affect these, which in turn affect the exchange rates:

The business environment: Positive indications (in terms of government policy, competitive advantages, market size, etc.) increase the demand of the currency, as more and more divisions want to invest there.

Stock market: The major stock indices also have a correlation with the currency rates.
Political Factors: All exchange rates are susceptible to political instability and anticipations about the new ruling party. For example, political or financial instability in Russia is also a flag for euro to US dollar exchange because of the substantial amount of Germany investment directed to Russia.

Economic Data: Economic data items like labor report (payrolls, unemployment rate and average hourly earnings), Consumer Price Indexes (CPI), Producer Price Index (PPI), Gross Domestic Product (GDP), international trade, productivity, industrial production, consumer confidence etc., also affect the currency exchange rate fluctuations.
Confidence in a currency is the greatest determinant of the real Euro-Dollar exchange rate. Decisions are made keeping in mind the future developments that may affect the currency. A EUR/USD exchange can operate under one of four main types of exchange rate systems:Fully

Fixed Exchange Rates

In a fixed exchange rate system, the government (or the central bank acting on the government's behalf) intervenes in the currency market so that the exchange rate stays close to an exchange rate target with a commitment to a single-fixed exchange rate and fluctuations from the central rate are not permitted.Semi-Fixed Exchange Rates
Currency can move between permitted bands of fluctuation such that the exchange rate is the dominant target of economic policy-making, interest rates are set to meet the target and the exchange rate is given a specific target.Free Floating

Value of the currency is determined solely by market demand for and supply of the currency in the foreign exchange market. Trade flows and capital flows are the main factors affecting the exchange rate. A floating exchange rate system: Monetary system in which exchange rates are allowed to move due to market forces without intervention by country governments. The Bank of England does not actively intervene in the currency markets to achieve a desired exchange rate level. With floating exchange rates, changes in market demand and market supply of a currency cause a change in value. It is rare for pure free floating exchange rates to exist - most governments at one time or another seek to "manage" the value of their currency through changes in interest rates and other controls.Managed Floating

Exchange Rates
Governments normally engage in managed floating if not part of a fixed exchange rate system.Advantages of Fixed Exchange Rates are disadvantages of floating rates:
Fixed rates provide greater certainty for exporters and importers and under normally circumstances there is less speculative activity - although this depends on whether the dealers in the foreign exchange markets regard a given fixed exchange rate as appropriate and credible.Advantages of floating exchange rates

Fluctuations in the exchange rate can provide an automatic adjustment for countries with a large balance of payments deficit. A second key advantage of floating exchange rates is that it gives the government / monetary authorities' flexibility in determining interest rates.

FOREX OVERVIEWS

noreply@blogger.com (Pradeep) — Mon, 25 Jul 2005 12:54:00 -0700

The Forex market is the most compelling market in the world with its long-sustained trends, daily volatility, massive volume ($1.5 trillion per day), and around-the-clock trading opportunities. ProSignal has developed highly sophisticated automated trading formulas designed to identify current trend directions and automatically generate buy/sell signal alerts when it detects optimal points of trade entry. The trading formula for each currency pair is comprised of multiple trading strategies working independently of each other, each designed to identify unique scenarios of high probability in the market. Likewise, each unique strategy has been assigned its own unique stop-loss and profit target to better suit the particular type of trade. With multiple trading strategies working together as one, this gives each currency pair a unique performance, contributing to trade diversification and a smoother equity curve.

EUR/USD and GBP/USD
Please Read Our Risk Disclosure
And All Notes Below Performance Table
Please Read Our Risk Disclosure

Notes on Net Performance Table:

All Returns Are NET: The statistics account for the deduction of the dealer's spread on each trade, but not slippage, interest rollover, and/or trade commissions (if applicable). Three pips have been deducted from each EUR/USD trade, and five pips from each GBP/USD trade. The pip value for EUR/USD and GBP/USD remains a constant $10 per $100k lot.
Back-tested Vs Real-time Past Performance: Since May 1st, 2005 all the results listed in the performance table have occurred under real-time monitoring. Performance numbers prior to April 30th, 2005 were generated by back-testing on historical data.
Performance Chart Reflects a 50% Profit Reduction in Hypothetical returns: Back-testing plays a significant role in helping to validate and design profitable automated trading strategies. A back-tested result is a snapshot of what a trading strategy would have produced over a period of historical data. However, due to the benefit of hindsight, back-tested data often shows more profit than what you may expect in real time. To account for a potential difference between back-tested and real time outcomes, in the performance chart above, we have deducted 203 pips from each month of back-tested data on the EUR/USD and 243 pips from each month of back-tested data on the GBP/USD. These deductions equal 50% of the total Net Profits in hypothetical back-testing. Since May 1st, 2005 the results indicated in the table were produced in real-time and therefore, no deductions were made beyond May 1st, 2005. Using ProSignal's charting software you can back-test all of our automated signals against historical data to review signal accuracy.

Hypothetical Vs Actual Results: The past performance data in the table represent hypothetical results if you had followed every automated signal at the time and price the trading strategy generated it. Actual results will vary from trader to trader depending on trading style and execution strategy. Past performance does not account for potential price slippage, varying leverage and/or other effects of trader discretion.
Percent Returns: In the performance table above, we use 2:1 leverage per currency pair to calculate the % returns. Therefore, on occasion, when both currency pairs are in an open trade position simultaneously, the combined leverage would be a total of 4:1 using our model above. An easy way to determine what the returns would be at higher (or lower) combined leverage, like 20 to 1, you would divide 4 into 20, which is 5, and use that as the multiplier on the total profit/loss results posted above.

Leverage: Determining the leverage you use is the most important factor in managing your risk. Your leverage, at any point in time, equals the total amount of currency you are trading (open positions) as a multiple of the total funds in your trading account (different than margin, which is the amount of collateral held by the bank/broker to guarantee its risk exposure). If you are trading 6 lots of $10,000 for a total of $60,000 in open trades and you have $20,000 on deposit in your account, you would be trading at 3:1 leverage. Most Forex brokers allow you to leverage against your account as high as 100 to 1, meaning they will allow you to trade (borrow) 100 times your account equity. However, we do not recommend using leverage this high due to the extraordinary risk associated with it. Our training program will uncover the common misconceptions and blunders most traders make in managing their risk, providing you with a better understanding of how to establish the appropriate leverage and risk per trade.

How the Automated BUY & SELL Signal Alerts Work:
ProSignal's Trading System is as easy as BUY and SELL. The Automated Buy/Sell Signal Alerts appear as Red & Blue Arrows on your charts, as in the illustration below. (Blue Arrow = Buy, Red Arrow = Sell). The software keeps each signal as an open trade position until one of the following occurs; 1. profit target is reached, 2. automated stop-loss is triggered, or 3. a reverse buy/sell entry signal is generated (meaning you would close the current position and open a new trade going the other direction). These automated alerts will also sound an audio alarm on your computer and, if you choose, you can set your charts to send these alerts to you by e-mail or cell phone as a text message.

Performance Summary Reports:
ProSignal's charting software has a Performance Summary tool which allows you to quickly analyze the results of the Automated Signal Alerts on historical data, as displayed in the illustration below.

AUTOMATED TRADE EXECUTION (Now Available!)

ProSignal has become a world leader in introducing investors to the Forex Market, providing state-of-the-art Forex charting software, fully automated buy/sell trade signals and effective training materials to build highly successful Forex trading skills. However, one of the difficulties many of our traders face when using the automated trade signals is being able to execute the trades in a regular and timely manner. Now ProSignal offers fully automated trade execution so you will never have to miss another trade or worry about placing trades yourself. The convenience of automated trade execution allows you to sleep, go out for dinner, go sailing, or simply go about your day without having to always keep your eye on the market. In addition, it can do wonders toward limiting the emotions of Fear & Hope from interfering with your trade decisions. ProSignal is one of the few signal providers offering hassle-free Automated Trade Execution to individual traders, staying true to our mission of making successful Forex trading simple, affordable and accessible to anyone.

Two Easy to Use Options:Some traders want to be consistent with the back-tested results by taking every signal, others want to apply their own analysis to the market in an effort to increase the accuracy of the signals in either case we have fully automated solutions. Participating in the automated trade execution is completely optional. Our subscribers may continue to execute all trades manually using their own discretion.
Option 1 Auto-Traded Managed Accounts: This option is fully automated. Every signal generated by our software initiates a market order with no participation from investors or ProSignal. Our specially designed software runs on servers that directly interface with the inter-bank market insuring that every trade hits the market and is applied to your account within 30 seconds of the signal, 24 hours a day 6 days a week. This option completely prevents your emotions from interfering with your trade decisions and allows you to go about your day without ever having to worry about analyzing the market or making a tough trade decision. You will be able to view your account in real time but you will not be able to intervene in the trades.
Option 2 Trade-It-Self Software: If you want to automate your trade execution but still maintain the ability to intervene in the trading you can do so with the Trade-It-Self software and ProSignal charts running on your computer. With this setup you may exit open trades (to take profit) any time you wish, place different stop-losses and profit targets than our software uses, or simply enter trades based on analysis or customized alert formulas that you created yourself. In addition, you will have the ability to choose which types of trades the software should ignore. For example, if the EUR/USD is in an up-trend, you can tell the software to ignore all sell signals and only take buy signals with the trend. You can use this software to trade 10k Mini accounts, as well as Standard 100k accounts, in addition you may use whatever amount of leverage you choose (up to 200:1).

Highlights of ProSignal's Online Training Course:

The ProSignal Trading System is a three-in-one package. Not only do we provide you with professional charting software and automated trade signals, but we also provide you with a complete training course in how to apply Technical Analysis & Money Management to your trading. The Study Manual and Video Tutorial covers many topics & strategies that will consistently put the odds in your favor in any type of market condition. Below is a brief list of what's covered in the ProSignal training course...

� Introduction to Forex
� How to Profit from Automated Buy/Sell Signal Alerts
� How to Back-test the Automated Alert Signals
� How to Receive the Automated Buy/Sell Alerts by e-mail or cell phone.
� How to Analyze the Market through Technical Analysis
� Trends & Trend Lines (Support & Resistance)
� Channels (Support & Resistance)
� How to identify Chart Patterns (Flags, Triangles, Wedges, Double/Triple Tops & Bottoms)
� Using Technical Analysis to Validate Trend-Reversal Signals
� Using Technical Analysis to Validate Signals Within Flags & Triangles
� Day Trading (short term) vs. Position-Trading (long term)
� How to Determine your potential Risk/Reward Ratio before entering a trade
� How to Determine where to place your Profit Target (limit order)
� How to determine where to place your initial Stop-Loss
� How to use a Trailing Stop-Loss to Minimize Risk
� Risk Management
� How to be a Successful Investor
� Fibonacci Analysis
� Using Fibonacci techniques to Determine Future Support & Resistance
� Using Fibonacci Projection to determine how far Price will go during a Large Move

ProSignal's Advanced Forex Charting Features:

� Prosignal Trading System with Automated Buy/Sell Alerts� Customizable price alerts, trend line breakout alerts & indicator cross-over alerts� Export/download data� Local time zones
� Choose from 2 data feed providers (FXCM and S&P Comstock)� 35 Customizable Indicators, Fibonacci Lines, Angles & Circles� Easy one-click Printing� Combine multiple indicators (e.g. apply Slow Stochastics with RSI Indicators)� Over 50 Time scale/Periods, including tick & Historical
� Save your own settings

Risk Disclosure: Past performance is not indicative of future results and individual returns may vary amongst participants. Investments in foreign exchange are subject to risks, such as erratic market conditions and economic and political instability. This is not a solicitation to invest. Please consult your investment advisor and read all risk warnings prior to committing funds. Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under or over-compensated for the impact, if any, of certain market factors such as lack of liquidity. Hypothetical trading programs in general are benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. Substantial risk is involved.

Benefits of Trading with FXDirectDealer

A Tradition of Service, Brokerage and Trading
FXDirectDealer is a Compagnie Financière Tradition company, a world leader in the brokerage and trading of financial and non-financial products. It is the world’s third largest brokerage firm, with offices in 17 countries and servicing over 7,000 clients around the globe. It acts as an intermediary for banks that trade bonds, commodities, currencies, stocks and interest rate products in the wholesale financial markets.
Tradition's history dates to 1959 when it became the first broker of interbank Eurodollar deposits. In 1982, it developed and brokered the first Future Rate Agreement (FRA), which quickly became an essential asset/liability product for banks and financial institutions to hedge their forward interest rate exposure. In 1993, it became the first New York broker to bring buyers and sellers together in LDC currencies.
Company Overview.

Facilitates Trade Via Transparent Real-Time Bid/Offer Pricing
FXDirectDealer's business model is to seamlessly execute - on an STP (straight-through-processing) basis - client deals at our interbank market makers prices.
We do not trade against our clients.
We do not "run" markets in order to execute client pending orders or re-price orders when the client benefits.
We do not look to create an adversarial relationship with our clients, but instead look to foster a cooperative relationship that allows our clients to maximize their trading profits at all times.
This is the business model that Tradition our parent has been utilizing for over 40 years. By adhering to this model, it allows our clients to take the trading risks while we concentrate on facilitating their trades at the best possible prices. It allows us to avoid the conflict of interest whereby we put our trading P/L ahead of our clients. Instead we look to foster a team oriented relationship --clearly separating execution from trading.
For Individuals: You receive transparent pricing that allows you to maximize your trading profits.
For Investment Managers: You receive the best possible pricing for your trading, maximizing your profit potential for your clients.
For Introducing Brokers: We share the same business model. We want our shared clients to trade profitably so that our returns are maximized. We don't look to put your client out of business by manipulating prices to our advantage and to your clients’ disadvantage.

24 Hour Trading Market
Foreign Exchange trading is a 24-hour a day, 5 plus day a week market that trades from time zone to time zone around the globe. From 5:00 PM EST on Sunday to 4:00 PM EST on Friday, FXDD customers have real-time access to live trading prices. Comfort of consistent and constant liquidity gives our clients money-making opportunities and trading flexibility around the clock.

Real-time Price Monitoring via Bloomberg, Reuters or Telerate
For the financial professional or other traders in the corporate environment, FXDirectDealer's real-time live prices can be followed on Bloomberg, Reuters or Telerate. Providing access to the live, real-time market is another way FXDirectDealer proves its professional service and commitment to our clients.
For a glimpse of our Reuters page,
Technical Charting Capability
FXDirectDealer has a full charting package with tic charts, and minute, hourly, daily and weekly charts. Chart types include candlestick, tic and bar charts. Bollinger Bands, Moving Averages, Stochastic, MACD and Momentum can also be added. The charting package also allows for the inclusion of Trend Lines. For more information on FXDD's charting capabilities, click the link below.

Security of Margined Funds
Being associated with a firm like FXDD, one with the backing of a global brokerage operation, gives our customers a peace of mind.

No Commissions or Hidden User Fees
FXDirectDealer does not charge a commission on any of its transactions. The price you deal on is the "all in cost" to you. The cost of trading is built into the bid/offer spread. In addition, there are no hidden setup fees for opening an account. We want to make your FX trading experience as simple as possible.

Redundant and Secure Application
FXDirectDealer is a fully redundant and secure application. The application was built with the latest technology to insure that you can enjoy un-interrupted service 24 hours a day. We also employ a multi-level security scheme that protects your information, maintaining confidentiality.

Multi-Language Capabilities
FXDirectDealer was designed to have multi-language capabilities. This allows Introducing Brokers from around the globe to incorporate the FXDirectDealer technology in the common language of its customers. Please contact an FXDD representative to discuss customizing a customer-friendly dealing platform.

Q.Why FOREX Trading?

A.Forex trading is the ideal profession on the internet. It allows anyone to buy and sell currencies from home, using a personal computer and an internet connection no matter where in the world you happen to live. It allows housewives, people with limited mobility, people who have been downsized, laid off, or people just wanting to quit the rat-race to do their own thing and make money at their own convenience.

Q.When Can I begin learning the ProSignal Trading System?

A.You can begin to study the trading system immediately after your credit card is approved for your first month's subscription fee. Upon credit card approval, you will be given immediate access to ProSignal's Member's Only website where you can watch our Training Videos and view the ProSignal Study Manual online. You will also be sent a Download link so you can download the ProSignal charting software and begin to watch the forex markets in real-time. In our Member's only website, you can sign up for a FREE Demo brokerage account so you can start placing practice trades immediately using the Automated Signal Alerts and Trading Techniques taught in our training Video Tutorial & Study Manual.

Q.How much money do I need to start trading?

A.This depends on the Broker you decide to open your account with. Typically, an account can be opened with as little as $100-$300. ProSignal offers a $20 monthly discount to subscribers who open an FXCM brokerage account through our Member's Only Backroom Website. Therefore, you can get the entire ProSignal Trading System & Charting Service for only $177 per month. FXCM has a minimum $300 deposit requirement to open a brokerage account.

Q.I live in Europe, will your trading approach work here?

A.Although our customer base is primarily North American, the ProSignal trading system and charting software can be accessed and implemented from anywhere in the world as long as you have an internet connection. In addition, our forex brokerage services are also accessible online from anywhere in the world with 24-hour telephone customer support should your internet connection ever fail.

Q.What kind of Internet connection do I need?

A.Although it is possible to successfully trade and monitor your charts using a regular phone line connection, a high-speed connection will allow you to search through your charts for trade signals much more quickly & easily. Three recommended high-speed Internet connection services are Cable, DSL, and ISDN (where available). Call your local TV Cable or Telephone Service Provider for pricing and availability in your area.

Q.Does the course cover both short-term Day Trading and longer-term Position Trading?

A.Yes it does. There are two separate proven strategies covered in the course. Day Trading with our Automated Signal Alerts is designed specifically for active day traders seeking relatively small price moves within a single trading session. Position Trading is tailored to those who don't have time to continually watch the market but would like to take advantage of relatively large long-term price trends which requires looking over the charts about 2 times per day and may only involve few trades per month. All of our Automated Trade Signals are for Day Trading. However, in our course, we teach you how to identify large Trend Reversals and the appropriate exit strategy to use for riding out long-term trends for big profits.

Q.What about the price of the course?

A.Most trading courses are sold for $2,000 - $4,000 up front and do not provide any charting services or Automated Trade Signals. Decent charting software alone (without automated trade signals) can cost $150 - $250 per month.
ProSignal provides everything you need� a complete, superior Automated Trading System AND professional real-time forex charting software, all in one convenient package. Priced as low as $177 per month, it's simply the best investment an aspiring trader can make.

Q.Can I use the ProSignal trading system to trade other markets?

A.No. The ProSignal trading system was specifically designed for trading in the FOREX spot market.

Q.Do I need to have any specific academic background in order to be successful?

A.Not at all. Successful active traders come from many different professions. Very often, people who are very successful at school or at their businesses wrongly believe that their success will be automatically transferred to forex trading. It is usually not the case. Active trading has its own learning pace and our trading course and software will prepare you to enter this exciting field.

Q.How much money can I make?

A.In FOREX trading, you can leverage your trades up to 100 times the equity in your account. Due to this potentially high leverage, FOREX trading can be a high-risk/high-return investment strategy. However, the ProSignal Study Manual will teach you effective techniques to limit your downside risk while letting your profits run wild.

Q.How is FOREX trading different from traditional securities and stock trading?

A.FOREX Trading is a very short-term investment strategy in relation to other investment vehicles. Trades may last a few minutes to several days, or sometimes a few weeks when Position Trading. The goal is to increase daily profits in your FOREX brokerage account, compared to long-term growth investments like stocks, mutual funds, bonds, or long-term notes that may be redeemed at a future date. FOREX traders frequently jump in and out of the market and closely monitor their positions throughout the day.

Q.How high are the risks in FOREX trading?

A.The risks can be high but also controllable. Forex traders around the world are competing against other forex traders, banks, and institutional traders who are seeking the same potential rewards from their own trading activities. Money management, discipline, talent, and a lack of emotion are traits you will want to develop in FOREX trading. One benefit to using our recommended brokerage firm is that they guarantee fills at your Limit and Stop-Loss order prices with no slippage. This means you can have total control over the amount you risk on each trade. But remember, FOREX Trading is speculative and any capital used should be risk capital. In fact, we recommend that you trade on a demo account until you have shown profit for at least three consecutive months before trading real money.

Q.Can I start part-time from my home or office?

A.Yes, this is highly recommended before committing to full time trading.

Q.There are many Forex trading systems. What separates ProSignal from the others?

A.What separates ProSignal from other Forex trading systems is a combination of expertise, technology, extensive back-testing, Automated Signal Alerts to your email or cell phone, and an end product that really does generate a highly profitable trading strategy that you can back-test and verify for yourself. The ProSignal Charting Software has a Back-Test feature which allows you to back-test our automated signal alerts as far back as January 1st, 2003.

Q.Do I need a browser to run the ProSignal Charting Software?

A.No! The charting software is downloaded to your hard-drive and opened from your computer. When you are running the charting software, you are connecting directly with the data-feed server and do not need to connect through web browsers which may slow some applications.

Q.Is there any special experience needed before becoming a Forex Trader?

A.No, but any experience in the market would be advantageous. Familiarity with any kind of trading is helpful. The better your background, the easier it will be to get started.

Q.How Soon Can I Start Trading?

A.The typical timing from the day you begin studying the Trading Manual to the day you actually take your first real trade varies from individual to individual. You can begin trading on the live Demo account the same day, however, you should not begin trading real money until you have completed at least 1-2 profitable months of trading on a demo account. By then, you will have become comfortable with our software and developed a �feel� for the market so you will have the confidence to enter your trades without second guessing.

Q.What Equipment Do I Need?

A.A Pentium 1 Computer or better running Windows 95/98/2000, ME or XP with a 56k bps modem or faster. Right now the charting software does not support Apple* or Linux. You will also require a connection to the Internet, preferably high-speed such as Cable, DSL, or ISDN, however dial up will work. If you want to receive your Automated Alerts by cell phone, you will need a cell phone with Text Messaging service. Check with your cell phone service provider for pricing. (*Some traders have been able to run our software on a Mac using Virtual PC, however it can be problematic and slow)

Q.What Is Live Demo Account Trading?

A.A live demo account looks and acts just like a real trading account except it does not contain any real money. It is set up with �play� money for the purpose of practicing & sharpening your trading skills within real market conditions without risking any of your own real money. ProSignal strongly recommends that you trade on a demo account until you have had at least 3 consecutive profitable months in a row. This is our way of being responsible to you and it's a vital and essential part of the learning process. Instructions for establishing a demo account are detailed in ProSignal's backroom webpage which is accessible through a link in the ProSignal charting software located under �Help�.

Q.What Are My Expected Financial Rewards?

A.Individual results can vary greatly between each trader. There are many factors which may affect a trader's individual performance. Such factors include but are not limited to: the currency pair or pairs traded, the level of aggressiveness and the number of trades taken, the amount of leverage used, the amount of available margin in an account, the style of trading, how you use a trailing stop-loss, the amount a trader risks per trade vs. the amount of attempted profit, the trader's level of understanding and application of the software and study material, a trader's overall experience, skill, emotional control, internet connection, etc.
As you progress in your trading skills, combining our automated signal alerts with the various trading techniques covered in our study manual will help you to acquire the know-how to become progressively more successful as a trader in the forex market.

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In order to open an Corporate Account with FXDirectDealer, all clients must complete and submit the (Adobe Acrobat Reader required) and fax the appropriate pages to:
Fax Number: 212-937-3845
Alternatively, you can mail the information to:
FXDirectDealer - New Corporate Accounts Department C/O Tradition NA 75 Park Place, 4th Floor New York, New York 10007
If you have any questions or require assistance please call toll free 866-FOR-FXDD or 212-791-FXDD or email at support@fxdd.com
Click below for the:

Forms that must be submitted by ALL Corporate Applicants
1. Corporate Account Application2. Customer Agreement and Risk Disclosure Document3. Certified Corporate Resolution 4. Certificate of Incorporation and Articles of Organization5. IRS Form W-9 if a US entity or W8-BEN if a entity located outside the US6. Two clearly submitted forms of identification for all persons who have trading authority.
Additional information needed from foreign (non-US) entities:
1. A Letter of Authenticity for corporate documents from the US Consulate in the country of origin, OR an apostille from the country of origin,2. A letter from your lawyer (on your lawyer’s stationary) stating that your business will not solicit or conduct business in the United States.
Wire or Mail Initial Deposit
FXDD requires a minimum Initial Deposit requirement of $5,000 to open an account. Funds can be transferred to FXDD either via a bank wire or by mail. Wiring of funds is the preferred and the fastest way of transfer funds. FXDirectDealer does not assume responsibility for funds that are sent via the mail, nor will they consider funds available for trading until they have been deposited, cleared and credited to the Customer's Account.
Wiring Instructions (allow1-2 days business days for the funds to be credited to the customer's account):
Citibank New YorkCity Hall Financial Center250 BroadwayNew York, New York 10007Swift Code: CITI US 33ABA Number: 021000089Account #27656149 For the Account: FXDirectDealer, LLC Control Account
Mailing Instructions (allow 5-10 days to clear and be credited to the customer's account from the date of receipt):
FXDirectDealerTradition, NACustomer Accounts75 Park Place - 4th FloorNew York, New York 10007
Restrictions prohibit FXDirectDealer from accepting cash or cash equivalents such as money orders, cashiers checks, travelers checks or personal checks in the name of an other individual that is different from the account applicant (a third party)

SUPPLEMENTAL FORMS

LIMITED ATTORNEY FORM: All customer who designate an Authorized Trading Agent, defined as any person other than the customer, who is given the ability to control, manage or direct trading decisions in the account (as defined in the LPA Form), must read and agree to the Limited Power of Attorney Form by signing and dating before authorization will be granted by FXDirectDealer.

REVOCTION OF LIMITED ATTORNEY FORM: To revoke the Limited Power of Attorney authorization, Customers are required to fill out and submit via fax or mail, the Revocation of Limited Power of Attorney Form. Once received an FXDD representative will contact the customer to confirm the request. Revocation will be granted upon acceptance by an authorized FXDD representative.

FUNDS REDEMPTION FUNDS: The FXDD Funds Redemption form needs to be filled out and submitted by FAX at 801-880-6545. Federal US law prohibits FXDD from redeeming funds to a bank account or person that is different than the name and account used to initially open the account.
An FXDD representative will contact the applicant when the account is approved and Initial Deposited funds have cleared and been credited to the applicants account.

email: sales@fxdd.com

FOREX FAQ'S

noreply@blogger.com (Pradeep) — Sat, 23 Jul 2005 12:40:00 -0700

What is Foreign Exchange?The Foreign Exchange market, also referred to as the "Forex" market, is the largest financial market in the world, with a daily average turnover of approximately US$1.2 trillion. Foreign Exchange is the simultaneous buying of one currency and selling of another. The world's currencies are on a floating exchange rate and are always traded in pairs, for example Euro/Dollar or Dollar/Yen.

Where is the central location of the FX Market?FX Trading is not centralized on an exchange, as with the stock and futures markets. The FX market is considered an Over the Counter (OTC) or 'Interbank' market, due to the fact that transactions are conducted between two counterparts over the telephone or via an electronic network.

Who are the participants in the FX Market?The Forex market is called an 'Interbank' market due to the fact that historically it has been dominated by banks, including central banks, commercial banks, and investment banks. However, the percentage of other market participants is rapidly growing, and now includes large multinational corporations, global money managers, registered dealers, international money brokers, futures and options traders, and private speculators.

When is the FX market open for trading?A true 24-hour market, Forex trading begins each day in Sydney, and moves around the globe as the business day begins in each financial center, first to Tokyo, then London, and New York. Unlike any other financial market, investors can respond to currency fluctuations caused by economic, social and political events at the time they occur - day or night.

What are the most commonly traded currencies in the FX markets?The most often traded or 'liquid' currencies are those of countries with stable governments, respected central banks, and low inflation. Today, over 85% of all daily transactions involve trading of the major currencies, which include the US Dollar (USD) , Japanese Yen (JPY) , Euro (EUR) , British Pound (GBP), Swiss Franc (CHF) , Canadian Dollar (CAD) and the Australian Dollar (AUD).
Is Forex trading expensive?No. FOREX.com requires a minimum deposit of $250. FOREX.com allows customers to execute margin trades at up to 200:1 leverage. This means that investors can execute trades of $10,000 with an initial margin requirement of $50. However, it is important to remember that while this type of leverage allows investors to maximize their profit potential, the potential for loss is equally great. A more pragmatic margin trade for someone new to the FX markets would be 20:1 but ultimately depends on the investor's appetite for risk.

What is Margin?Margin is essentially collateral for a position. It allows traders to take on leveraged positions with a fraction of the equity necessary to fund the trade. In the equity markets, the usual margin allowed is 50% which means an investor has double the buying power. In the forex market leverage ranges from 1% to 2%, giving investors the high leverage needed to trade actively.
What does it mean have a 'long' or 'short' position?In trading parlance, a long position is one in which a trader buys a currency at one price and aims to sell it later at a higher price. In this scenario, the investor benefits from a rising market. A short position is one in which the trader sells a currency in anticipation that it will depreciate. In this scenario, the investor benefits from a declining market. However, it is important to remember that every FX position requires an investor to go long in one currency and short the other.

What about terms like "bid/ask", "spread", and "rollover"?FOREX.com has an extensive Glossary that provides detailed definitions of all Forex related terms.
What is the difference between an "intraday" and "overnight position"?Intraday positions are all positions opened anytime during the 24 hour period AFTER the close of FOREX.com's normal trading hours at 4:30pm ET. Overnight positions are positions that are still on at the end of normal trading hours (4:30pm ET), which are automatically rolled by FOREX.com at competitive rates (based on the currencies interest rate differentials) to the next day's price.

How are currency prices determined?Currency prices are affected by a variety of economic and political conditions, most importantly interest rates, inflation and political stability. Moreover, governments sometimes participate in the Forex market to influence the value of their currencies, either by flooding the market with their domestic currency in an attempt to lower the price, or conversely buying in order to raise the price. This is known as Central Bank intervention. Any of these factors, as well as large market orders, can cause high volatility in currency prices. However, the size and volume of the Forex market makes it impossible for any one entity to "drive" the market for any length of time.

How do I manage risk?The most common risk management tools in FX trading are the limit order and the stop loss order. A limit order places restriction on the maximum price to be paid or the minimum price to be received. A stop loss order ensures a particular position is automatically liquidated at a predetermined price in order to limit potential losses should the market move against an investor's position. The liquidity of the Forex market ensures that limit order and stop loss orders can be easily executed.

What kind of trading strategy should I use?Currency traders make decisions using both technical factors and economic fundamentals. Technical traders use charts, trend lines, support and resistance levels, and numerous patterns and mathematical analyses to identify trading opportunities, whereas fundamentalists predict price movements by interpreting a wide variety of economic information, including news, government-issued indicators and reports, and even rumor. The most dramatic price movements however, occur when unexpected events happen. The event can range from a Central Bank raising domestic interest rates to the outcome of a political election or even an act of war. Nonetheless, more often it is the expectation of an event that drives the market rather than the event itself.

How often are trades made?Market conditions dictate trading activity on any given day. As a reference, the average small to medium trader might trade as often as 10 times a day. Most importantly, by not charging commission, FOREX.com customers can take positions as often as necessary without worrying about excessive transaction costs.

How long are positions maintained?Approximately 80% of all forex trades last seven days or less, while more than 40% last fewer than two days. As a general rule, a position is kept open until one of the following occurs: 1) realization of sufficient profits from a position; 2) the specified stop-loss is triggered; 3) another position that has a better potential appears and you need these funds.

Tel: 1.877.FOREXGO or 1.908.731.0750 Email: info@FOREX.com ©
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Weekly Market Watch - Monday, July 18, 2005

noreply@blogger.com (Pradeep) — Fri, 22 Jul 2005 06:03:00 -0700

Last Week Recap
The Aussie dollar posted its first weekly gain against the greenback in a month, bolstered by an increase in commodity prices, the strengthening of Asian markets and a strong run of local economic data including retail sales and employment figures. Meanwhile the greenback posted weekly losses against the major currency pairs as the market looked to move its holdings out of Sterling and the US dollar, following terrorist bombings in London, the euro and CHF became the currencies of choice. However the US dollar strengthened broadly on Friday night as another batch of robust economic data underscored US economic strength and underpinned expectations the Federal Reserve will continue to raise interest rates. The A$ closed last week at 0.7531 having started the week at 0.7379. The NZ$ closed last week at 0.6734 having started the week at 0.6708. The Euro closed last week at 1.2041 having started the week at 1.1955. The GBP closed last week at 1.7519 having started the week at 1.7360. US$/JPY closed last week at 112.23 having started the week at 112.18.
The Week AheadUSD:
The direction of the dollar this week will be largely determined by the release of the Treasury International Capital Systems data, where a third month of sub-$50 billion demand for US assets would be viewed as a dollar negative. Federal Reserve Chairman Greenspan’s testimony before Congress will also be important for the dollar. On the data calendar the following is scheduled for release this week: Mon – net foreign security purchase, NAHB housing market index. Tues – housing starts/permits. Wed – Greenspan semi-annual testimony. Thurs – leading index, Philly Fed index, June 30 FOMC minutes.AUD: With little economic data due out locally this week, the Aussie will be driven by events in the US. This could prove negative for the Aussie as the market’s focus will shift to Fed Chairman Greenspan and the continuation of interest rate hikes in the US, further decreasing Australia’s interest-rate advantage over the US. On the data calendar the following is scheduled for release this week: Wed – WBC-MI leading index. Thurs – new motor vehicle sales, RBA monthly bulletin. Fri – Q2 export/import price index.To view live charts follow these links: AUD/USD AUD/EUR AUD/GBP AUD/JPY AUD/NZD
NZD: As for the Aussie, the Kiwi will be influenced by events in the US. The New Zealand dollar edged lower over the weekend as strong data out of the United States continued to drive the greenback higher against most currencies. On the data calendar the following is scheduled for release this week: Thursday's external migration report for June is the only news of note. To view live charts follow these links: NZD/USD
GBP: Sterling will be tested by UK data and the minutes of the BoE meeting. Recent data could have convinced more members to vote for a rate cut. Retail sales, mortgage lending and house price data should also be watched. On the data calendar the following is scheduled for release this week: Mon – RICS house price balance. Wed – BoE MPC meeting minutes, M4 money supply. Thurs – retail sales. Q2 GDP.To view live charts follow these links: GBP/USDEUR: The focus in the euro zone will be on inflation with the final HICP expected to confirm the preliminary reading of 2.1%. The impact of higher oil prices and a weaker euro should also be evident in German advance CPI data for July, which could be released end week. On the data calendar the following is scheduled for release this week: Mon – June CPI final. Tues – industrial production. Wed – trade balance. Thurs – current account.To view live charts follow these links: EUR/USD
JPY: The Yen will primarily be affected by events in the US having benefited last week from softer oil prices and a surge in the Nikkei. On the data calendar the following is scheduled for release this week: Tues – BoJ minutes. Thurs – trade balance. Fri – tertiary activity index.To view live charts follow these links: JPY/USD
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Places in Kathmandu

noreply@blogger.com (Pradeep) — Fri, 15 Jul 2005 07:47:00 -0700

Places to Visit In Kathmandu

Durbar Square Singha Durbar Bhadrakali Temple Narayanhity Durbar Swayambhu Stupa Boudhanath Stupa Balaju Water Garden Budhanilkantha Pashupatinath Temple Gokarna Sankhu Sundarijal Chobhar Changu Narayan Temple Akash Bhairav Temple Kumari Ghar Kirtipur Kasthamandap Jaishi Dewal Dakshinkali
Hanuman Dhoka (Durbar Square)The square is the complex of palaces, courtyards and temples that are built between the 12th and the 18th centuries by the ancient Malla Kings of Nepal. It is the social, religious and urban focal point of the city. Taleju Temple, Kal Bhairab (God of Destruction), Nautalle Durbar, Coronation Nasal Chowk, the Gaddi Baithak, the statue of King Pratap Malla, the Big Bell, Big Drum and the Jagnnath Temple are some of the interesting things to see in this Square.An intriguing piece here is the 17 th century stone inscription that is set into the wall of the palace with writings in 15 languages.It is believed that if anybody deciphers this entire inscription, the milk would flow from the spout, which lies just below the inscripted stone wall. Some people say that the inscription contains coded directions to a treasure King Pratap Malla has buried beneath Mohan chowk of Durbar Square.There are several museums inside the palace building. There is an entrance feeof Rs. 250 for all the foreign visitors to visit all the museums of the palace building.
Singha DurbarA grand imposing palace built on the neo-classical style. It was the private residence of Rana Prime Minister. Now it's the Secretariat of His Majesty's Government of Nepal.
Bhadrakali TempleIt is at the eastern edge of the Tudikhel, near Shahid Gate. This temple is one of the main "Shankta or Shaktipeeth" temples of Kathmandu City.
Narayanhity DurbarIt is the Royal Palace of present King, His Majesty King Birendra Bir Bikram Shahdev of Nepal. The Shah kings moved to this palace from their old palace in the late 18th century. The new edifice was inaugurated in 1970 on the occasion of the wedding of His Majesty king Birendra Bir Bikram Shahdev. The palace takes its name from the Narayanhiti, a famous historic waterspout situated at the southern corner of the Palace. The Palace compound is immense, surrounded by high walls and guarded by soldiers.
Swayambhu StupaThe most ancient and enigmatic of all the Valley's holy shrines lies 2 km west of Kathmandu city, across the Vishnumati river. The golden spire of Swayambhunath stupa crowns a wooded hillock and offers a commanding view of Kathmandu city. On clear days, one can even view a line of Himalayan peaks. The view is splendid at dusk as city lights flicker one by one, and even better when a full moon hangs in the sky. The establishment of Swayambhunath Stupa goes back to the legendary beginning of the Kathmandu Valley.The legend says that when the bodhisattva Manjushri drained the waters of the lake to reveal the Kathmandu valley, the lotus of the lake was transformed into the hillock and the blazing light became the Swayambhu stupa. Swayambhunath stupa is a World Heritage Site.
Boudhanath StupaIt is the biggest stupa in the Valley. The stupa, well known as Khasti, is also known as the World Heritage Site. It looms 36 meters high and presents one of the most fascinating specimens of stupa design. There are more than 45 Buddhist monasteries in the area. It lies about 6 km to the east of downtown Kathmandu. The Bouddha Area Preservation & Development Committee runs an information center.
Balaju Water GardenIt is situated below Nagarjun Hill about five-kilometer northwest of Kathmandu City. The garden is known for its bank of 22 stone waterspouts (hiti) carved in the shape of sea-dragons. It also consists of religious shrines, fishponds and a replica of the statue of Budhanilkantha. . There is also a swimming pool inside the park.
BudhanilkanthaSituated below Shivapuri hill at the northern end of the valley, Buddhanilkantha temple is 9 km from Kathmandu city. The temple consists of a pond in which lies a great stone figure of the Hindu god Vishnu reclining on the coils of a cosmic serpent. The huge statue of sleeping Vishnu is carved from the single block of black stone of a type not found in the valley. It is believed that ages before the two hardworking farmers (husband and wife) discovered the statue when they were ploughing their field.Besides Budhanilkantha temple, there are other two sets of exactly similar, but smaller statues of 'sleeping Vishnu' in the Valley. One set is in the Balaju garden and the other is hidden in the old garden of Hanuman Dhoka Palace of Kathmandu city. A prophetic dream of King Pratap Malla generated the belief that the King of Nepal should never visit Buddhanilkantha temple on threat of death. He then built the similar statue in two places.
Pashupatinath TempleThe temple of Pashupatinath is Nepal's most scared Hindu shrines and one of the subcontinent's greatest Shiva sites, a sprawling collection of temples, ashrams, images and inscriptions raised over the centuries along the banks of the sacred Bagmati river. The richly- ornamented pagoda, houses the sacred linga or phallic symbol of Lord Shiva. Chronicles indicate the temlple's existence prior to 400 A.D, but a shrine may have stood here nearly 1000 years before that. Legend says that Shiva once took the form of an antelope and sported unkown in the forest on Bagmati river's east bank. The gods later caught up with him , and grabbing him by the horn, forced him to resume his divine form. The broken horn was worshipped as a linga and overtime was buried and lost. Centuries later an astonished herdsmen found one of his cows showering the earth with milk. Digging deep at the site, he discovered the divine linga of PashupatinathThe temple complex has been renovated and improved over the centuries. Entrance to the shrine is only restricted to Hindus, however, one can still get the good view of the sacred temple from vantage points across Bagmati river. Across the river, one can also visit the temple of Guhyeshwori and a classic 6th century ekmukhi "one-faced" linga of Shiva.
Gokarna Situated about ten-kilometer northeast of Kathmandu, this lovely Royal Game Sanctuary is also well known as Gokarna Safari Park. Many wild animals like spotted dear can be viewed in the sanctuary from an elephant bank. On the northern side of Gokarna is a pagoda of Gokarneshwor Mahadev.
SankhuIt is a typical Newari town with many fine old buildings and temples. Beyond the village, up a long flight of stone stairs, is Bajra Jogini, a historical temple with a beautiful view of the local area.
SundarijalIt is a famous for its scenic beauty. There are magnificent waterfalls, cataracts and rock formations. It is an ideal place for picnic requiring a short walk after the motorable road.
ChobharSituated nine-kilometer southwest of Kathmandu, this place is famous for its gorge. All the water of the valley drain through it. There is a small but picturesque temple of Adinath on the top of a hill. From this top one can have a panoramic view of snow capped mountain peaks.
Changu Narayan TempleIt lies on a ridge over looking the Valley, about twelve-kilometer to the east of the city. It is dedicated to the Hindu God Vishnu. The scared complex is a World Heritage Site. It has one of the finest and oldest specimens of pagoda architecture that is embellished with exquisite wood and stone carvings.
Akash Bhairav TempleThis is a three-storey temple situated in the main Market Avenue called Indra Chowk. The image of Akash Bhairav is displayed outside for a week during Indra Jatra, the festival of Indra (the God of Indra). The festival of Indra falls on monsoon season of Nepal.
Kumari Ghar (Temple of Kumari)The temple or the residence of Living Goddess, Kumari, is situated in the vicinity of Hanuman Dhoka Palace. The building has beautifully carved wooden balconies and window screens. The Kumari- the living Goddess acknowledges the greetings from her balcony window. Photography is prohibited.
KirtipurIt is a small town, situated on a ridge 6-km southwest of Kathmandu. The ancient township is a natural fortress and has a proud and courageous history. The Chilamchu stupa and the temple of Bagh Bhairav are major sights here. The city offers quaint streets lined with artistic houses and temple squares. The people are known for their skill in building and weaving.
Kasthamandap King Laxmi Narsingha Malla built this temple in the sixteenth century. It is said to be constructed from the wood of single tree. It is located near the temple of Kumari. Indeed the city of Kathmandu derives its name from this temple.Behind Kasthamandap, there is a small but a very important temple of Ashok Vinayak, also known as Kathmandu Ganesh or Maru Ganesh.
Jaishi DewalFive minutes from Kasthmandap the Shiva Temple of Jaishi Dewal is famous for its erotic carvings. It is still one of the main tourist routes of the chariot festivals of Indra Jatra, Gai Jatra and other festivals.
DakshinkaliThe temple of Dakshinkali is situated about two kilometers south of Shekha Narayan. Dakshinkali is regarded as one of the most important Hindu Goddesses. Pilgrims visit this temple to offer their prayer and animal sacrifices to the goddess. Besides, this place has been developed as a popular picnic spot.
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about forex

noreply@blogger.com (Pradeep) — Wed, 13 Jul 2005 02:04:00 -0700

Here's why traders around the globe choose FOREX.com:
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dog and cat books and pet products

noreply@blogger.com (Pradeep) — Mon, 11 Jul 2005 20:39:00 -0700

'Holidaying with Dogs' 2005-2006
224 pages of over 2000 of dog-friendly places to stay with more properties featured in detail. Includes host farms, B&B’s, cottages, motels, and rental holiday houses, caravan parks, camping grounds, throughout Australia and New Zealand. Treat your best friend to a holiday too!
Price: $18.95

Walkies! in Victoria
Walkies! Every dog's favourite word sounds sweeter still with the promise of new sniffs and new challenges to explore. This updated edition of the popular ‘Life. Be in it’ guides makes finding walks over Victoria quicker and easier than ever. New symbols identify the 1000-plus listings as on-leash or off-leash parks, trails, gardens, beaches, wetlands or river and lake walks. Some favourite dog walks in detail. Also includes Dog sports & Tricks sections by Nicole Beasley.
Price: $19.50

Walkies! in South Australia
This 'Life. Be in it' directory details over 400 places to walk your dog. It includes free-roam and on-leash parks, beaches, and walking paths in South Australia. Other features include stories of favourite walks by selected dogs; hints on responsible dog walking; maps and council phone numbers.
Price: $14.75

'Holidaying with Cats'NEW - Enlarged 2nd edition
Over 500 cat-friendly caravan parks, camping grounds, host farms, B&B's, cottages, motels, and rental holiday houses throughout Australia. Tips on adventure playgrounds and safe and responsible travel for cats, including reminders on eco-friendly cat ownership.
Price: $17.50

Real Food for Dogs
Here is a book to pamper your pooch and to have a lot of fun in the process. A beautifully illustrated and easy to follow cookbook that provides 50 vet- approved recipes that are nutritionally balanced. Sections on Treats, Meaty Meals, Fish & Fowl; Vegetarian ; Special Occasion Meals, Special diets for pups and older, overweight or inactive dogs.
Price: $21.95

Pet First Aid for Cats and Dogs
An essential travel companion to ‘Holidaying with Cats’.This book may save your pet’s life. Don’t leave home without it! An essential book for travelling cat owners, especially if you are no where near a vet. Has easy to follow instructions of what to do in an emergency. It contains all answers and information you need to provide life saving first aid to your pet. Handy for home use as well.
Price: $21.95

Training Your Cat
Teach your cat to sit on command, take tablets happily, to walk on a lead, and even to accept a bath!Dr. Kersti Seksel, an experienced Veterinarian with animal behaviour qualifications tells you how. This beautifully illustrated, full colour book comprehensively covers all areas of cat care, with unique insights into cat psychology. Includes teaching cats to take tablets, how to travel with cats and behavioural observations.
Price: $24.95

Wondercat
An entertaining and informative guide jam-packed full of cat facts and essential moggy maintenance tips is a must for all cat lovers.includes practical benefits for cat ownership, finding your purrfect match with step-by-step instructions for your new arrival, including explainations on how cats can happily coexist with all manner of two and four legged family members.
Price: $24.95

Kitty Kapers
The catalyst for all kinds of furry feline fun! Jam-packed with indoor and outdoor activities that you and your feline pal can enjoy.Lots of new ways to communicate with your pussy.Includes sections on tricks and games, arts and crafts, stories and songs, cooking, “Kitty Kommunication”, and “Kitty Kare.” Also tips on massage, creative catnapping, exercise, nutrition, and safety. Complete with a list of resources available on the web.
Price: $19.95

Dog Problems - The Gentle Modern Cure
Highly recommended by veterinarians and ‘Life. Be in it’ .Features over 120 colour photos to illustrate ways in which you can cure your dog’s problems.Simple solutions to problem dog’s bad habits by two highly experienced and reputable dog trainers.If you have a dog that won’t come when it is called, jumps up, chews, the wrong thing, chases cats, bikes or joggers, pulls too hard on the lead, destroys the washing, digs in the garden, attacks other dogs then this book is for you. Also has a section on Car Sickness which is very useful for those holidaying with dogs.Essential reading for dog owners who want to develop abetter and more rewarding relationship with their best friend.
Price: $26.95

Doggy Days
Hours of fun activities you can enjoy with your dog. Great ideas for individuals, families and kids especially!Here is a book full of inspirational new ways to spend time with your dog. From craft activities such as making doggy paw print cards, through outdoor games to play, then back indoors for doggy massage and meditation. The suggestions in this book will keep you and your dog, or your dog and your children, amused for hours
Price: $19.95

Dog Travel and Throw Rug
Instantly makes any surface dog-friendly. Just the thing for holidaying and travelling with your dog-and beaut for home use as well!Throw it over the car seat, the sofa or even the bed. Light weight, cosy, fleecy blanket with a blanket stitched edge.
Price: $54.00

Moisture Magnet Towel
A 50cm x 70cm chamois type towel.Dries twice as quickly as conventional towels. Actually draws water out of the pets coat.
Price: $13.00

Soft Cloth Towel
A 45 x 70cm soft poly-micro towel made in Sweden.Highly absorbent - dries 3 times more effectively than a cotton towel.
Price: $18.85

Pet Garden Signs
A range of whimsical, beautifully produced small garden signs. Over 40 different signs to choose from. Many are for specific dog and cat breeds.
Price: $7.50

Cat Lead with Collar & Harness
Cats on holiday must be on a lead. This ensures safety for your cat and the environment.Comfortable - lightweight and doesn't pull on cat's neck.
Price: $14.50

Novelty Cute Cats
Black silhouette cats in a variety of typical poses - sitting, stretching, leaping. Average size: 6cm x 3cm.Decorate picture frames, photo frames, windows, mirrors. · A great gift idea for cat lovers.
Price: $10.85

Bags on Board Doggy Pick Up Dispenser Pack
For Dogs' Sake, Pick Up!Bags on Board is the only clean-up product that attaches to any leash!2 rolls of 12 large bags come with a handy dispenser. .The Dispenser Pack comes with container, tie for lead and 24 disposable bagsEnvironmentally Friendly - 100% Biodegradable Bags!
Price: $9.95

Roll of Refill Bags for Bags On Board Dispenser Pack
For Dogs' Sake, Pick Up!3 Rolls of Refill bags to put in your plastic or built-in lead dispenser - 36 bags all up (size: 30x40cm)Environmentally Friendly - 100% Biodegradable Bags!
Price: $8.95

table Leads wBags on Board Retracith Built-in Dispenser
The easy solution to always having pick up bags with you when you go'Walkies! ' with your dog, Sturdy, well designed retractable leads that will give your dog more freedom on a leash, and give you the comfort to know you will always have pick up bags with you.Available for all size dogs in small, medium and large.Red or Blue
Price: $39.99

Happy Yappers Dog Biscuits
A fun pack of healthy, tasty Gourmet Dog Biscuits with 2 bone shaped biscuits featuring your dog's name. Your Dog Will Love them. All Natural ingredients. A Unique Gift Idea. 6 treats per pack.
Price: $7.50

Dog Training - The Gentle, Modern Method
MORE THAN 90,000 COPIES SOLD WORLD-WIDE!96 PP, LARGE FULL-COLOURDavid Weston¹s unique ŒGentle Modern Method¹ gives a simple, quick, step by step guide on how to train your dog quickly and easily. The book continues to sell and sell and sell because dog lovers everywhere say his system of encouragement and rewards WORKS! Over 20 lessons are featured starting with the basics of house training, sit, stay, heel and moving on to more advanced training. All aptly illustrated with more than 80 easy to follow photographs.
Price: $26.95

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Copyright © 'Life. Be in it.' Special Projects PO Box 692 Port Melbourne Vic 3207Email : dogs@life.net.au

Insurance for your pets

noreply@blogger.com (Pradeep) — Sun, 10 Jul 2005 22:34:00 -0700

Pet Insurance
Pet insurance is actually health insurance for your pet.
Some financial planners believe that pet insurance is not worth the cost of the policy. Having owned several cats myself, I'm not so sure. While a healthy pet is a minimal vet expense, if you happen to have a pet who gets into an accident or develops a serious health problem, it can be mighty expensive to get treatment.
However, pet insurance can cost between $2000 and $6000 over the life of your pet. That's a considerable amount of money. Pet insurance companies don't sell pet insurance where the risks are stacked against them. So, the likelihood that you will ever receive benefits which equal the amount of premium you've paid is low. Better deal? Save the money that you would have spent on the pet insurance premium and put it in a savings vehicle. If your pet ever needs treatment, you'll have the money.
But some of us are not good at saving, yes? There's the challenge.
Also, remember that veterinary technology is keeping pace with human medical technology. Your vet will suggest new tests and new treatments - which can all be very expensive. Your pet could even get a transplant now! But the costs are significant.
Typically, if you get pet insurance you will have to keep the same things in mind as you do when you buy your own health insurance:
You will always have to pay something - pet insurance will have deductibles, co-payments and potential caps on the total amount paid out yearly
The pet insurance company will do everything to reduce their risk. Therefore, if you are insuring a German Shepherd expect that hip displasia will be an excluded condition. Also, any pre-existing conditions will likely be excluded from the pet insurance policy - and a vet's visit will be required in order to identify these.
Get pet insurance while your pet is young! Older animals will always be more expensive to insure - if you can get it at all.
Check out insurance tips about: Business Insurance, Travel Insurance, Credit Card Insurance and Pet Insurance.

noreply@blogger.com (Pradeep) — Sun, 10 Jul 2005 12:27:00 -0700

TAILORS MADE TOURS TO THE HEART OF EUROPE

Tours by luxury minibus in a group of up to 6 people with elaborated itinerary and fixed date of departure. These tours are couple and single friendly. Click on Itineraries button to find out more.
Our Tours:Tour No 1: The Varieties of the BalkansTour No 2: The Imperial citiesTour No 3: From Vivaldi to MozartTour No 4: The elegance of the Italian lakes and the delights of SwitzerlandTour No 5: The highlights of Italy

These tours by luxury minibus are convenient for families and small groups of friends. Click on Tailor-made button and find out how to do it.

The taile-mail: or-made tours base on:
Personal approach
Your choice of the itinerary, what to see, where to stop and when to go
Your choice of hotels, when and where to eat
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Safe, comfortable and flexible way of traveling
On and off the beaten tracks to small and big places
No days or long hours lost on boring long-distance drives
No wake-up calls, meeting times, no walks in the line behind the umbrella
No tour-manager speeches but discussions on different topics
Flexible tour-manager available 24 hours per day (organizer, baby-sitter, etc.)

So you have:No need to worry about languageNo need to fuss with mapsNo need to get stressed about driving, finding roads and parking placesNo need to worry where to sleepNo need to carry luggageNo need to wait for other peopleNo need for rigid timetablesNo need for additional money for optional excursionsThe idea is to travel off the motorways, on famous high alpine roads, over charming Tuscany hills, along gorgeous north Italian and scenic Austrian lakes to big places like Rome, Florence, Venice, Munich, Salzburg… but also to small places like St. Moritz, St. Anton, San Gimignano, or Saint Tropez.We can visit current local events, make contacts with the local people and shop where they do. We can barbecue, camp, trek, raft, wine-taste and, of course, party. Possibilities are unlimited
The Wandering Star Aloha d.o.o. Miren 213 5291 Miren Slovenia Tel. / fax: 00 386 530 545 12 or cell phone no. 00 386 31 374 349 e-mail: info@thewanderingstar.com Bank: NovaKBM IBAN: SI56047500001054538 swift: KBMASI2XGOR
e-mail: info@thewanderingstar.com

HOLIDAY

noreply@blogger.com (Pradeep) — Sun, 10 Jul 2005 01:44:00 -0700

Holidaying in Casa Town
- near the town of Cairns, on Great Barrier Reef - Agincourt is a resort style complex of 45 luxury 1 bedroom apartments on a large beachfront site at Clifton Beach considered Cairns most beautiful beach.
Cairns in Tropical North Queensland is renowned as the gateway to Australias Great Barrier Reef and Cape York Peninsula. To the north and south of the city are beautiful sandy beaches fringing the Coral Sea with many palm covered islands and sand cays which are home to an enormous array of coral and marine life. Many cruise boat provide day excursions to these islands and the Great Barrier Reef for diving, snorkelling and sight seeing and you can choose from fast catamarans to leisurely sailing craft offering a wide choice of services and prices.
Facilities
Bedrooms
45 Bedrooms - 39 double + 6 twin.
Wash Rooms
1 Bathroom.
Reception
.
Kitchen
microwave, freezer, iron and board, coffee maker, oven, fridge, toaster.
Leisure
TV, radio.
General
washing machine, air conditioning, telephone, house linen, central heating, tumble dryer, ceiling fans.
Outdoors
balcony, garden, private pool, parking, barbecue, patio/garden furniture.
Excluded
Animals
Local amenities
water skiing - windsurfing - cycling - golf - canoeing - tennis - walking - horse riding - jet ski - go-karting - snorkeling - swimming - flora and fauna - sea fishing - white water rafting - bungy jumping - Scuba Divin#Clifton Beach is located just 20 minutes north of the Cairns CBD, 15 minutes north of the international airport and 5 minutes south of Palm Cove. A must for your stay while at Agincourt is to take the scenic railway to Kuranda - the village in the rainforest, returning on Skyrail, the worlds longest cableway skimming over the rainforest canopy.Just 30 minutes drive to the north along the scenic Captain Cook Highway you will arrive at the beach resort town of Port Douglas then travel further on to the majestic Daintree World Heritage Rainforest, the largest tract of virgin rainforest in Australia.
Rental Tariff
Rental Season
January - December
Oct- 13 to May-30/2004
Beachfront $100/night
Oct- 13 to May-30/2004
Garden $80/night
June-1 to Oct- 12/2004
Beachfront $120/night
June-1 to Oct- 12/2004
Garden $100/night
All stays
2 nights minimum
Booking deposit
One night
Balance to be paid prior to holiday
Day of arrivalSpecial ConsiderationsHire of beach towels available at reception.
Contact Information
For current availability please complete this E-mail form.
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Send your email by pressing the SUBMIT button belowThe property owners supply the content displayed on this site. As a condition of using the CasaHolidays search, you indemnify CasaHolidays from any misrepresentation that may occur.
Property Reference: 3441 Enquiries about this property must be made to the name(s) directly below. Please quote CasaHolidays property ref: 3441 when you make contact.
Craig and Petra Gillard
Australia
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noreply@blogger.com (Pradeep) — Mon, 27 Jun 2005 02:56:00 -0700

Dog breeds

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