FOREX TRADE ALERT

It is possible to buy and sell money from different countries on the foreign exchange market called Forex. Forex currency traders can profit by taking advantage of the dips and swells in the foreign currency market. Capturing these differentials is easier in Forex currency trading than in other trading because the Forex market is open twenty-four hours a day, except for weekends, and it is global, so there are always buyers and sellers available.

Recently, many people have become interested in forex currency trading online possibly because they heard of the large amounts of money that can be made. As a result, many big companies have now set up online currency trading operations. These websites are certainly of great help to anyone who is actually interested in learning about online Forex currency trading for themselves

For enclosing such an enormous amount of total turnover day after day, FOREX can be considered as a liquid market perfect for foreign currency trading. In contrast to other securities, foreign currency trading does not take place on a fixed exchange rate. In fact, currencies are traded largely between central banks, commercial banks, non-banking international corporations, hedge funds, and private investors and of course, the speculators.

There is one particular site where you can learn about Forex currency trading online. It is the “Forex Online Trading Program” which as been created by the National Futures Association (NFA) at www.nfa.futures.gov. It starts by teaching you the basics of forex currency trading and as you progress through each step, it will provide you with the answers to any questions you may have about forex currency trading.

Foreign currency trading strategies employed by traders in order to trade the market can make a big difference in their results. Forex trading is an extremely competitive area. In order to be successful, individuals need to concentrate on a set of simple Forex trading strategies that they can put into practice without hesitation.

Source: Currency Trading

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written by gage131

Forex Trade Alert for – Symbol EUR/JPY.

  Trade Alert for Wednesday, Jun 25, 2008.

 FOREX UPDATE.

EUR/JPY – SETUP for All Time HIGH !!

 Market is holding above the 164.98 level.On May-13-2008 We Call to BUY currency pair EUR/JPY at 161.50 (+700 pips). 4xgenie Action: ==> Maintain long position. Trailling Stop at 167.05. Wave 3 could rise up to 171.8700 or to 176.9088. NOTE: The width of the Bollinger Bands has started to narrow which indicates that prices are beginning to consolidate. A divergence in the MACD indicator has been found. The current upward trend may soon correct or end. The CCI is above 100. This currency pair is overbought at this time. For a short term trade, we looking to take short position, wave 4, and try to enter long, wave 5.

MONTHLY PIVOT ALERT: Resistance level of 168.2967 was broken today. When the monthly R2 ( resistance level 2 ) is broken – we can look for a possible rise to the monthly R3 ( resistance level 3). This is extremely bullish.

Next Day Trading Ranges for Wednesday Jun 25, 2008.

The 20 day moving average of the daily trading range is 132 pips and the 60 day moving average of the daily trading range is 147 pips. This shows that volatility has decreased in the short term. The percentage of updays when the open/low ratio is less than 25% is 48.73 percent. This means that if this pair does not drop more than 33 from the opening price then there is a 48.73 percent chance that this will be an upday.

The [R3] or the most extreme high trading range is 171.03.

The [R2] or the extreme high trading range is 170.09.

The [R1] or the high trading range is 169.51.

The [P] or pivot point is 168.57.

The [S1] or the low trading range is 167.99.

The [S2] or the extreme low trading range is 167.05.

The [S3] or the most extreme low trading range is 166.47.

Next Day Alternate Stops for Wednesday Jun 25, 2008.

The red line to the right on your chart is an extreme support or resistence level for the next trading day.

A good alternative stop is one which is placed just beyond this extreme support/resistance level.

In this particular case if the price drops below 167.05 then that would show momentum against 4xgenie’s long position and that would be a break out to the downside.

Please Note: These support/resistance levels are calculated by using the previous day’s trading range. Normal volatility may cause a breakout of this value once every 4 or 5 days when prices consolidate.

Current Day Trading Session:

Momentum is continuing upward at the present time.

Next Day Trading Session:

If the next day’s close is below 167.07 then that could be a sign that the current upward momentum is reversing.

4xgenie.com

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STRADDLE EUR/USD

Nice STRADDLE Set-Up for EUR/USD

Place 2 seperate limit orders simultaneously. First order is for buy only, with a stop and limit provided. Second order is for sell only, with a stop and limit provided. Only one order will be executed. Make sure to cancel the other order once you see that the other is executed.

ORDER #1 – LONG EUR/USD

BUY @ 1.5599

STOP @ 1.5569

LIMIT @ 1.5609

ORDER #2 SHORT EUR/USD

SELL @ 1.5539

STOP @ 1.5569

LIMIT @ 1.5529

For more information how I Trade FOREX STRADDLE

http://www.4xgenie.com/Trading%20Strategys.html#Alert%20system%20#4

4xgenie.com

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written by admin \\ tags: straddle

What is the Catch
in this
Dealing Desk vs Non Dealing Desk

Maybe, this is not very correct this a catch, but there is much beyond the choice between dealing desk Forex broker vs no dealing desk Forex broker.

Usually, you will notice that dealing desk brokers are a lot more "friendly" and give you more great perks and bonuses. For example, there dealing desk brokers allow you trading with mini and even micro lots, unlike brokers who require a standard lot of $10,000. This is where you already start thinking "Hmm, why is all that good attitude from dealing desk brokers, compared no dealing desk."

I would not like to tell this about all Forex brokers, but business is business. Usually when they are ready to give away a lot, this means they are sure they will compensate it from some source of income. And for brokers with dealing desk the dealing desk in itself is the source of profits.

When you are trading with dealing desk, this can result in:

• position being closed later then you need (and this gap between actual closing and execution can cost you money)
• during this gap before closing it is possible that some kind of software shows you the "adjusted" rate, with some pips being in the favor of the broker, instead of being in the favor of the Forex trader

Not that much disadvantages, but this is enough to open a huge doorway for the Forex broker for making extra profit and playing against the trader.

Of course, a lot depends upon the reputation of the company. But you saw that a while ago, reputable insurance companies secured absolutely junk value papers from real estate bubble. Come on, it's all about the money in this world. If you have plenty of money and mass media support, you can make most of the people forget about any bad reputation.

That is why in the choice between dealing desk vs non dealing desk, the later is much more fair when it comes down to you - the Forex trader.

Source: Forex Trading

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written by gage131

Forex Trade Alert for – Symbol  USD/CHF.

Forex Trade Alert for Tuesday  Jun 10, 2008.

A buy signal was confirmed when this par closed above 1.0387 on Jun-10-2008. 4xgenie Action: ==> Buy this par at 1.0505. Stop at 1.0141. Wave 3 could rise up to 1.0810 or to 1.1068. Today’s candlestick appears in the yellow shaded area of the chart. This reflects strong consolidation here! The CCI has crossed above -100. Look for rising prices soon.

Source: dollar

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written by gage131