Friday, December 18, 2009
The Forex Robot World Cup
Top 10 FRWC Ranked Robots (Live Trading - Real Money)
All FRWC robots are NON-COMMERCIAL creations
by Independent Developers
** Results are updated every 15 minutes **
Click here to view all rankings and real money, live account statements
WHO IS THE BEST?
Forex trading via automated robots has become very popular in the Forex industry over the past few years.
Thousands of robots have been, and are being, developed by traders from all over the globe with a single objective:
Creating A Profitable, Solid And Reliable Long Term Automated Trading Solution.
For the first time ever, non-commercial Forex robot developers from every corner in the world will have a chance to compete in the biggest and most important automated Forex championship: The Forex Robot World CupTM (FRWC).
FRWC's objective is to allow nature, so to speak, to select the best of the best in an open and transparent challenge.
Equal rights, equal opportunity, equal conditions; Everyone starts at the same point, everyone has an equal chance to receive:
Reference :
http://www.forex-robot-world-cup.com/
Wednesday, December 16, 2009
Expert Advisors
These trading programmes allow you to maintain a particular trading strategy according to a predetermined set of trading parameters.
In simple terms, you can use EAs to monitor movements in the market and perform buy or sell trades automatically according to the strategy that you have chosen.
The use of Expert Advisors is generally limited to the MetaTrader 4 platform however there is an array of other trading systems which work in a similar fashion.
Where can I get an Expert Advisor
If you decide that an EA is a suitable product to use within your investment strategy then there are several ways that you can get your hands on a strategy to suit your needs.
Buy an EA on the Internet
There are hundreds of different EAs available from a host of reputable companies on the internet and whilst ODL Securities does not endorse the use of any in particular, there does seem to be some excellent EAs available at relatively low costs to the end user.
You can buy the programme and install it into your MT4 platform very quickly, meaning you can be trading within minutes.
It is important that you understand what strategy your EA is running and therefore we always recommend that you only use EAs which are in line with your risk profile.
Design your own EA
Although designing your own Expert Advisor is significantly harder than using one from off the shelf, the benefit is that you can customise your own EA to your exact trading requirements.
Creating your EA will be difficult if you do not have a high level of technical knowledge and you will need to understand MetaQuotes Language 4 (MQL 4).
Please refer to http://www.metaquotes.net and http://www.odlmarkets.com/ea/expert-advisors.odl for more information.
Tuesday, December 15, 2009
FOREX FAQ
Frequently Asked Questions | ||
15. How long on average does an "FX trade" last?80% of FX transactions are open for less than 7 days with 40% open for less than 2 days. | ||
16. How does the Trading Day progress around the world?
| ||
Dollar Holding Own After Last Week’s Gains
The US dollar is for the most part flat in early week trading. Continued gains would target 1.4410/50 in the EURUSD.
The big story last week was the decline below 14625 on Friday. A trendline, channel support, and pivot lows (14800 and 14625) have been broken-the evidence supports the larger bearish wave count. The next potential support is 14410/50. Near term structure is somewhat elusive. Immediate trend is bearish under 14780. Above there exposes 14820, 14910, and 14970 as resistance. Listen to additional thoughts regarding the EURUSD.
Monday, December 14, 2009
迪拜消息打乱美元上扬步伐
迪拜消息打乱美元上扬步伐
亚洲股市未能跟随周五美股上扬,为日元提供了支持,尽管日本第四季度短观报告显示经济仍然疲软。
亚市午盘阿布扎比宣布无条件为迪拜政府提供100亿美元的资金,主要用来偿还迪拜世界的债务,迪拜政府通过重组法令,为迪拜世界提供担保以及阿联酋央行准备为本地银行提供支持的消息在市场引发轩然大波:
各主要货币兑美元强劲反弹,并纷纷创出日内新高,美元、日元则成为抛售的对象。
但投资者也许还记得,迪拜债务风波传出的当天各主要货币兑美元全面下挫,但在美国收盘时已经回收了当天的大部分跌幅,
这意味着目前市场对该消息的反应可能有些过度,既然当初问题的暴发都没能在市场引发恐慌,现在的初步解决对于目前金融市场的风险偏好来说只能是锦上添花。
并且从最近汇市与股市的关联性大幅减弱来看,非美反弹可能也难以持久。(贺华明)
亚市重要数据或事件:新西兰10月零售销售月率持平,核心零售销售增长0.5%;日本第四季度大型制造业前景指数升至-18,非制造业指数降至-19,但均好于预期;日本10月工生产修正值月率上升0.5%,年率下降15.1%,与预期一致
欧洲时段重要数据或事件:瑞士11月生产者/进口物价指数,欧元区10月工业生产
相关市场:国际原油下跌0.23%,报69.73美元;伦敦金上涨1.03%,报1126.40美元;道指期货录得年内新高
http://www.dailyfx.com.hk/commentary/afternoon.html
Forex Sharing
I hope you had a good week trading. There was a lot of volatility in the majors this past week, I hope everyone was on the right side of their trades!
Which brings me to my topic for this newsletter. One of the most important rules of trading is protecting your principle and using proper risk management tools.
The most critical components of risk management are position sizing, setting stops, setting reward risk ratios, and draw-down control.
One of the biggest mistakes traders make is over-leveraging and taking a big hit on one single trade. Not only does this deplete your account balance, but it also can deliver a gigantic blow to the trader's psyche and mind set. Even though systems can be effective, only a few traders end up profitably following them. For now it is crucial to understand that taking a big loss on any one trade is one of the most detrimental things that can happen to a trader. Traders on a hot streak tend to feel invincible and begin to over-leverage or go for it on one "can't lose" trade and then end up unable to recover their psychological balance and ability trade effectively afterward. One way to deal with this problem that I personally consider the holy grail of risk management is setting the maximum percentage you are willing to lose on a single trade before you even begin trading. I recommend this percentage be below 5%; I personally use 2%. Someone with more guts (or experience) may use 4%-5%. Setting the maximum account risk percentage is vital to being able to retain your capital and continue trading the markets. The calculation is as follows:
Total account size: $100,000
Maximum single trade loss %: 2% {set}
Maximum single trade dollar loss: $2,000
This means that you have to calculate your loss on a single contract, lot or share based on the distance from your entry to your stop and then divide it into your maximum single trade dollar loss to obtain your optimal position size in contracts or shares. This to me is the most critical concept in trading.
Also please keep in mind that during fast market situations (i.e. news releases) stops may not be honored by your broker and you may get a fill past your stop price. As you know, a stop order turns into a market order once the stop price is crossed. This is all the more reason to trade conservatively. Different brokers have different pricing policies so if you plan to trade during these times read the fine print in your trading contract and let your broker know what you plan to do so you know that they can handle your trade size and needs. This prevents later misunderstandings, busted trades, and loss of trading equity. Most brokers reserve the right to "bust" (i.e. take back) a trade at any time for any reason or no reason, but must do so within twenty four hours of the trade occurring.
Example for $100,000 account in Forex contracts:
Entry: 1.1850
Stop: 1.1830
Max $ loss per contract: 20 pips $200
Maximum Single trade dollar loss from above: $2000 (2% of $100k)
Optimal position size: $2000/$200 = 10 contracts
This will keep trades small and emotions under control during the learning curve and eliminate the large losses that can cost you your trading capital and end the trading experience.
I know this is not the most exciting stuff, but it's the cornerstone to any good trading system. We do offer some third party services that teach you basics like this, and best of all they are free to our clients. If you have any questions about this or any interest just let me know.
Alex Nekritin
(P) 1-781-444-6969
(F) 1-781-444-0311
alexn@traderschoicefx.com
www.traderschoicefx.com
Thursday, December 10, 2009
Will Yen Weakness Buoy up the Dollar?
Will Yen Weakness Buoy up the Dollar?
Is there an End to the Yen Trend?
Based on Technical indicators and the relation of the USD/JPY with the 200 SMA, I believe that traders should....
look to short this pair on any rally up to the 89.00 area. The recent USD/JPY rally was soundly rejected at the 90.77 high back on December 3rd. Currently price is hovering in a tight 50 pip range between 87.50 and 88.00.
The USD/JPY is still trading below its 200 SMA on a daily chart which is a bearish sign. However, shorter time frame oscillators are showing that we could get a small USD/JPY rally before dropping to a target area in the 86.00 area.
The FXCM Speculative Sentiment Index reveals that there are nearly three traders long for every trader short the USD/JPY. SSI is a contrarian indicator that tells us that the USD/JPY should move lower.
Use an oscillator like stochastics or RSI on a 4 hour chart to pinpoint a sell entry. Wait for the indicator to cross above its upper reference line and then cross below. Confirm this with a break of the rising 4-hour chart trend line (H4) on market scope.
Read more: DailyFX - The Trend of the Day - USD/JPY http://www.dailyfx.com/forex/education/trading_tips/trend_of_the_day/2009-12-09-1913-The_Trend_of_the_Day.html#ixzz0ZFNQlYCN
Friday, December 4, 2009
Inside the mind of Singapore's Youngest Millionaire
cid:1.2025868166@web54203.mail.re2.yahoo.com
Adam Khoo
Inside the mind of Singapore's Youngest Millionaire ………….By Adam Khoo
Some of you may already know that I travel around the region pretty frequently, having to visit and conduct seminars at my offices in Malaysia, Indonesia, Thailand and Suzhou (China). I am in the airport almost every other week so I get to bump into many people who have attended my seminars or have read my books.
Recently, someone came up to me on a plane to KL and looked rather shocked.. He asked, 'How come a millionaire like you is travelling economy?' My reply was, 'That's why I am a millionaire. ‘He still looked pretty confused. This again confirms that greatest lie ever told about wealth (which I wrote about in my latest book 'Secrets of Self Made Millionaires’). Many people have been brainwashed to think that millionaires have to wear Gucci, Hugo Boss, Rolex, and sit in first class in air travel. This is why so many people never become rich because the moment that earn more money, they think that it is only natural that they spend more, putting them back to square one.
The truth is that most self-made millionaires are frugal and only spend on what is necessary and of value. That is why they are able to accumulate and multiply their wealth so much faster. Over the last 7 years, I have saved about 80% of my income while today I save only about 60% (because I have my wife, mother in law, 2 maids, 2 kids, etc. to support). Still, it is way above most people who save 10% of their income (if they are lucky). I refuse to buy a first class ticket or to buy a $300 shirt because I think that it is a complete waste of money. However, I happily pay $1,300 to send my 2-year old daughter to Julia Gabriel Speech and Drama without thinking twice.
When I joined the YEO (Young Entrepreneur' s Organization) a few years back (YEO is an exclusive club open to those who are under 40 and make over $1m a year in their own business) I discovered that those who were self-made thought like me. Many of them with net worth's well over $5m, traveled economy class and some even drove Toyotas and Nissans (not Audis, Mercs, BMWs).
I noticed that it was only those who never had to work hard to build their own wealth (there were also a few ministers' and tycoons' sons in the club) who spent like there was no tomorrow. Somehow, when you did not have to build everything from scratch, you do not really value money. This is precisely the reason why a family's wealth
(no matter how much) rarely lasts past the third generation. Thank God my rich dad (oh no! I sound like Kiyosaki) foresaw this terrible possibility and refused to give me a cent to start my business.
Then some people ask me, 'What is the point in making so much money if you don't enjoy it?' The thing is that I don't really find happiness in buying branded clothes, Jewellery or sitting first class. Even if buying something makes me happy it is only for a while, it does not last. Material happiness never lasts, it just gives you a quick fix. After a while you feel lousy again and have to buy the next thing which you think will make you happy. I always think that if you need material things to make you happy, then you live a pretty sad and unfulfilled life.
Instead, what makes ME happy is when I see my children laughing and playing and learning so fast. What makes me happy is when I see my companies and trainers reaching more and more people every year in so many more countries. What makes me really happy is when I read all the emails about how my books and seminars have touched and inspired someone's life. This happiness makes me feel really good for a long time, much much more than what a Rolex would do for me.
I think the point I want to put across is that happiness must come from doing your life's work (be in teaching, building homes, designing, trading, winning tournaments etc.) and the money that comes is only a by-product. If you hate what you are doing and rely on the money you earn to make you happy by buying stuff, then I think that you are living a meaningless life.
--
Cheers!!
Pauline Ng
We want to hear from you what works and what doesn't work, how you made exceptional profits and which Forex Trader Fucked you big time and ran with all your money!
That is what we want to hear, scream out your wins, your losses or your questions regarding Forex!
You can do some ass kicking on the Trader or Broker that lost all your hard earned cash!
You can glorify the Trader or Broker that managed to get you on the Seychelles in no time!
That are the fucking stories we want to hear about!
So let us know what you are thinking!
Wednesday, December 2, 2009
Malaysia Forex Expo Dec 11-12 KLCC
Malaysia Forex Expo is part of the WORLD FOREX EXPO PROJECT - a unique event that is devoted to the development of the Forex market. The WORLD FOREX EXPO includes shows in Moscow, St. Petersburg, Kiev, Riga, Shanghai, Hong Kong, Brunei, Philipines,Singapore, Indonesia, India, Beijing, and Kuala Lumpur.
One of the most important and relevant exhibitions today is the FOREX EXPO in Malaysia. During the show traders can discuss new elements of the financial markets, such as internet trading and informational / analytical products.The show also offers a variety of sessions that allow participants to discuss industry trends, listen to expert views on key issues - and learn about new products and needs.
The event includes seminars and presentations, where each visitor can participate in professional consultations for free.
If you are looking for new clients, you are welcome to FOREX EXPO in Kuala Lumpur!!!
For visitors entrance is free!!!
Want to participate or support?
Write or call:
kimhuat28@yahoo.com
Kevin 016-921 2163
Wednesday, November 25, 2009
How to get started as a forex trader?
Get Started
how to get started as a forex trader
www.dailyfx.com/how_to_trade_forex/learn_forex/
1)The 5 Basics of Making a Forex Trade
What you need to know before placing your first Forex trade.
1. Reading a Forex Quote
2. What is a Pip?
3. Leverage and Margin
4. Rollover
5. Forex Market Hours
2) The 5 Basics of Fundamental Analysis
What you need to know to place a trade using economic news.
1. Trade Flows and Capital Flows
2. Interest Rates
3. Inflation and CPI
4. Geo-Political Events
5. Non-Farm Payrolls
3) The 5 Basics of Technical Analysis
What you need to know to place a trade using charts.
1. Basics of Technical Analysis
2. Determining the Trend
3. Multiple Time Frame Analysis
4. Support and Resistance
5. Stops and Limits
Learn to maximize your trading by using DailyFX. This section provides a set of special guides that give you complete explanations, background, and general tips for making the most out of every article.
Enjoy your learning journey :)
Monday, November 23, 2009
www.forexfactory.com/calendar.php
Nov 22 - Nov 28 | Filter |
Date | 14:10 | Currency | Impact | Detail | Actual | Forecast | Previous | Chart | |
Sun Nov 22 | |||||||||
Mon Nov 23 | 5:45 | NZD | Visitor Arrivals m/m | -0.7% | 3.8% | ||||
All Day | JPY | Bank Holiday | | | |||||
8:30 | AUD | New Motor Vehicle Sales m/m | 3.7% | 3.1% | |||||
16:00 | EUR | French Flash Manufacturing PMI | | 55.5 | 55.6 | ||||
16:00 | EUR | French Flash Services PMI | | 57.7 | 57.7 | ||||
16:30 | EUR | German Flash Manufacturing PMI | | 51.7 | 51.0 | ||||
16:30 | EUR | German Flash Services PMI | | 51.2 | 50.7 | ||||
17:00 | EUR | Flash Manufacturing PMI | | 51.3 | 50.7 | ||||
17:00 | EUR | Flash Services PMI | | 52.7 | 52.6 | ||||
21:00 | EUR | ECB President Trichet Speaks | | | |||||
21:30 | CAD | Core Retail Sales m/m | | 0.4% | 0.5% | ||||
21:30 | CAD | Retail Sales m/m | | 0.6% | 0.8% | ||||
23:00 | USD | Existing Home Sales | | 5.71M | 5.57M | ||||
Tue Nov 24 | 7:00 | AUD | CB Leading Index m/m | | 1.8% | ||||
13:00 | JPY | BOJ Monthly Report | | | |||||
15:00 | CHF | UBS Consumption Indicator | | 0.63 | |||||
15:00 | EUR | German Final GDP q/q | | 0.7% | 0.7% | ||||
15:50 | EUR | French Consumer Spending m/m | | 0.5% | 2.3% | ||||
16:15 | CHF | Employment Level | | 3.96M | 3.95M | ||||
17:00 | EUR | German Ifo Business Climate | | 92.6 | 91.9 | ||||
17:30 | GBP | BBA Mortgage Approvals | | 43.7K | 42.1K | ||||
17:30 | GBP | Prelim Business Investment q/q | | -3.5% | -10.2% | ||||
17:45 | GBP | Inflation Report Hearings | | | |||||
18:00 | EUR | Industrial New Orders m/m | | 0.7% | 2.0% | ||||
21:30 | USD | Prelim GDP q/q | | 3.0% | 3.5% | ||||
21:30 | USD | Prelim GDP Price Index q/q | | 0.8% | 0.8% | ||||
22:00 | EUR | Belgium NBB Business Climate | | -11.3 | -14.2 | ||||
22:00 | USD | S&P/CS Composite-20 HPI y/y | | -9.1% | -11.3% | ||||
23:00 | USD | CB Consumer Confidence | | 47.6 | 47.7 | ||||
23:00 | USD | HPI m/m | | 0.2% | -0.3% | ||||
23:00 | USD | Richmond Manufacturing Index | | 10 | 7 | ||||
23:35 | GBP | BOE Gov King Speaks | | | |||||
Wed Nov 25 | 1:30 | CHF | SNB Chairman Roth Speaks | | | ||||
3:00 | USD | FOMC Meeting Minutes | | | |||||
6:20 | AUD | RBA Deputy Gov Battellino Speaks | | | |||||
7:50 | JPY | Trade Balance | | 0.31T | 0.06T | ||||
7:50 | JPY | CSPI y/y | | -2.5% | -3.2% | ||||
8:30 | AUD | Construction Work Done q/q | | 0.1% | -0.1% | ||||
15:00 | EUR | GfK German Consumer Climate | | 4.3 | 4.0 | ||||
25th-30th | GBP | Nationwide HPI m/m | | 0.4% | 0.4% | ||||
17:00 | EUR | Italian Retail Sales m/m | | -0.1% | -0.1% | ||||
17:30 | GBP | Revised GDP q/q | | -0.3% | -0.4% | ||||
17:30 | GBP | Index of Services 3m/3m | | 0.0% | -0.1% | ||||
21:30 | CAD | Corporate Profits q/q | | -6.4% | |||||
21:30 | USD | Core Durable Goods Orders m/m | | 0.8% | 1.2% | ||||
21:30 | USD | Unemployment Claims | | 500K | 505K | ||||
21:30 | USD | Core PCE Price Index m/m | | 0.1% | 0.1% | ||||
21:30 | USD | Durable Goods Orders m/m | | 0.5% | 1.4% | ||||
21:30 | USD | Personal Spending m/m | | 0.6% | -0.5% | ||||
21:30 | USD | Personal Income m/m | | 0.2% | 0.0% | ||||
22:55 | USD | Revised UoM Consumer Sentiment | | 67.2 | 66.0 | ||||
22:55 | USD | Revised UoM Inflation Expectations | | 2.8% | |||||
23:00 | USD | New Home Sales | | 408K | 402K | ||||
23:30 | USD | Crude Oil Inventories | | -0.9M | |||||
Thu Nov 26 | 1:00 | USD | Natural Gas Storage | | 20B | ||||
7:50 | JPY | Monetary Policy Meeting Minutes | | | |||||
8:30 | AUD | Private Capital Expenditure q/q | | 1.1% | 3.3% | ||||
10:00 | NZD | NBNZ Business Confidence | | 48.2 | |||||
All Day | EUR | German Prelim CPI m/m | | 0.0% | 0.1% | ||||
17:00 | EUR | M3 Money Supply y/y | | 0.7% | 1.8% | ||||
17:00 | EUR | Private Loans y/y | | -0.4% | -0.3% | ||||
18:15 | EUR | Buba President Weber Speaks | | | |||||
19:00 | GBP | CBI Realized Sales | | 11 | 8 | ||||
All Day | USD | Bank Holiday | | | |||||
Fri Nov 27 | 1:00 | EUR | Buba President Weber Speaks | | | ||||
5:45 | NZD | Trade Balance | | -469M | -424M | ||||
7:30 | JPY | Household Spending y/y | | 0.6% | 1.0% | ||||
7:30 | JPY | Tokyo Core CPI y/y | | -2.0% | -2.2% | ||||
7:30 | JPY | National Core CPI y/y | | -2.2% | -2.3% | ||||
7:30 | JPY | Unemployment Rate | | 5.4% | 5.3% | ||||
7:50 | JPY | Retail Sales y/y | | -1.5% | -1.3% | ||||
10:00 | NZD | Inflation Expectations q/q | | 2.3% | |||||
15:00 | EUR | German Import Prices m/m | | 0.4% | -0.9% | ||||
18:00 | EUR | Consumer Confidence | | -18 | -18 | ||||
18:30 | CHF | KOF Economic Barometer | | 1.85 | 1.45 | ||||
21:30 | CAD | Current Account | | -10.7B | -11.2B | ||||
Sat Nov 28 |
Reference From : http://www.forexfactory.com/calendar.php