Forex comparison
FX journal
for the Currency Trader
1.Edition, 01.03.2009
News:
* rob hookers postcards-from-the-right-edge-weblog now in hands of Derek Frey
Rob hookers postcards-from-the-right-edge-weblog (http://blogs.fxstreet.com/postcards), sure the funniest forex weblog ever, is now in the hands of Derek Frey. After Hookers new position as Chief Market Strategist at Interbank FX(http://biz.yahoo.com/bw/080916/20080916005206.html?.v=1) Derek Frey of Odom & Frey Futures, FOREX & Options, took over this forex weblog. http://blogs.fxstreet.com/postcards/
Derek Frey is the co-founder and head trader of Odom & Frey Futures & Options, LLC. He has been involved in the Futures, Options, and Forex markets for almost 20 years, working at such well respected financial firms as Merrill Lynch, MetLife, and American Express Financial Advisors before starting O&F. Mr. Frey is regularly quoted by The Wall Street Journal, Bloomberg, The National Post, and Reuters and has written articles for Option Trader Magazine and Pit News Magazine. His newsletters are sought after by traders around the world and he can be heard on etvFUTURES/ForexTV weekly, as well as FxStreet.com's “Derek Frey's Outlook” every Monday and "Live Look at Today's Markets" on Tuesday, Wednesday and Thursday.
He is a popular speaker at many trading conventions around the world. Derek’s approach to the markets is unique, in that he takes a scientific approach to the markets, incorporating facets of chaos theory as well as physics and fractal geometry into his trading.
Rob is a foreign currency trader. He is the author of Adventures of a Currency Trader and the Currency Trader's Handbook, and was featured in Millionaire Traders, the best-selling book about every day traders who are beating the market. His radio show for traders at TraderRadio.net is heard by zillions of home-based investors around the world every day.
Rob 'practiced' law, printed t-shirts, sold magazines, taught Italian, recruited CPAs, started an advertising firm, ran an e-commerce company and roofed houses before he realized that he was better at getting jobs than he was at staying with them.
Okay, since we're all talking in the third person, I'll let you also know that Rob was fired from every job he ever got. Consumed with the question of why he was working at jobs that he didn't like -- and how to move past those jobs into a career that brought him true happiness -- and the ability to play video games, watch movies, and chat with people around the world while attempting to build an empire of wealth beyond any mortal's ability to imagine, Rob talked to people across the country and around the world. When he met a group of successful foreign exchange traders, he learned everything he could, until he started a full-time career trading currency.
Rob now maintains a foreign currency advisory practice close to home. He has been called the "Motley Fool of Foreign Exchange" and the "Prime Minister of Pips". He lives in Wheeling, West Virginia, with his wife Kristine and three children.
photos and text with friendly permission of fxstreet.com, Derek Frey and Rob Hooker © fxstreet.com 2009 * Forex.com released new metatrader platform
Bedminster, NJ - September 25, 2008. GAIN Capital's FOREX.com ads Forex Trading on the MetaTrader 4 Platform. MetaTrader 4 users can sign up for trading services at www.forex.com/metatrader. "Our goal is to provide the MetaTrader community with a level of service and stability that only an established, well-capitalized forex provider like GAIN can offer," said Glenn Stevens, GAIN's chief executive officer. "We believe that FOREX.com's commitment to providing competitive spreads, quality trade executions and excellent service will prove to be a compelling value proposition for anyone who relies on MetaTrader 4 for their
forex trading."
FOREX.com, a division of GAIN Capital Group, is one of the largest regulated forex firms in the United States. GAIN and FOREX.com are registered with the National Futures Association (NFA) in the United States as a Futures Commission Merchant, Forex Dealer Member.
As of July 31, 2008, the firm reported excess net capital of $57.9 million.
MetaTrader 4 is designed around the needs of technical forex traders, and includes support for automated trading. Among the notable features:
* A robust technical analysis package with the ability to create custom indicators
* The ability to program and automate specific trading strategies using a built-in language, MetaQuotes Language 4 * Support for hedging activities
* Audible rate & indicator alerts
Traders using the MetaTrader 4 can benefit from the advantages that FOREX.com provides to its customers, including:
*Dealing spreads as low as 1-2 pips on the most widely traded currencies
*Expert research and analysis, from real-time market commentary to essential daily and weekly reports
*Customer support via licensed representatives seven days a week, including 24-hours a day during market hours
*Advanced educational tools include online training courses, workshops, and interactive webinars
*The availability of the MetaTrader 4 platform at FOREX.com complements the company's own proprietary trading technology, FOREXTrader.
warded 2008 "Best Retail FX Platform" by the readers of Profit & Loss magazine, the FOREXTrader platform offers a highly customizable
trading environment with a full suite of professional charting and order management tools.
MetaTrader 4 users can visit www.forex.com/metatrader for more information and to register for a free, 30-day practice account.
text with friendly permission of forex.com © forex.com 2009
* Win a Maserati trading contest by fxdd
Throughout the month of March 2009, every qualifying live account holder is eligible to compete on the FXDD Leaderboard and race to the finish and the stakes are high!
Show the largest dollar gain in the month of March and you drive away a winner in a luxury auto masterpiece, either the sleek and sexy 2009 Maserati Quattroporte or the classic 2009 Mini Cooper.
Take your position at the starting line right now! Contest begins March 1, 2009. Click the link below for contest details: http://www.fxdd.com/en/contest
To be the winner of a 2009 Mini Cooper Hardtop with standard equipment (or $19,700 USD cash equivalent) the opening account equity must be at least $300 and no more than $2,999 as of 5 p.m. on March 1, 2009 and the account(s) must be self directed (no managed accounts).
To get the 2009 Maserati Quttroporte with standard equipment (or $100,000 USD cash equivalent) the opening account equity must be at least $3,000 as of 5 p.m. on March 1, 2009 and the account(s) must be self directed (no managed accounts).
fxdd offers mt4 platform as well as their own fxdd trader, fxdd auto and fxdd power trader platforms. fxdd offer:
Competitive dealing spreads* - 2 pips in EUR/USD
1 click instant execution
Free trading tools & top-rated news
Liquidity from leading global banks
24-hour customer service and trade execution support
Competitive Introducing Brokers (IB) programs with attractive rebates
in addition, from November 5, 2008, FXDD is expanding the choice of platforms for Spot Gold and Silver trading. You can now trade on the MetaTrader 4, MTXtreme and FXDDTrader platforms.
in addition fxdd announced, that they will be extending the 3 % bonus program
text with friendly permission of fxdd.com © fxdd.com 2009
* FXCM give a Free 25 $ Micro Account
For a limited time, FXCM Micro will offer a $25 bonus deposit for opening a new FXCM Micro trading account. To receive the bonus, the trader first has to provide basic qualification informations. If he is qualified, he must then be approved by FCXMs New Accounts department based on the information submitted with the completed Trading Application. Traders are not eligible for the $25 bonus deposit if they have an existing account with FXCM, FXCM Micro or any of its affiliates.
No additional deposit required to open the account. This is not an account-opening BONUS but a funded $25 FXCM Micro Account which can be traded without any deposit from you. This promotion is only available to residents of the United States and Puerto Rico and limited to only one (1) account per household
More informations:
http://www.forexmicrolot.com/tradeshow.jsp?CMP=SFS-70160000000DNsfAAG&keyword=036017
text with friendly permission of fxcm.com © fxcm.com, 2009
* Diamondsroom increases trial membership price
Tim "Sir Pipsalot" Swansons Diamonds forex trading room, focusing on news afterspike releases and more, increases its 14 days trial membership to 39 $ from mid december 2008.
This offer is valid for new customers only. the subsrciption can be done by creditcard or paypal.
address: http://www.forexdiamonds.com/signup.aspx
text with friendly permission of forexdiamonds.com © forexdiamonds.com, 2009
* Forextradersdaily with new forex blog
Forextradersdaily has a new blog with daily comments, trading strategies and forecasts for the active forex trader, from Britt Maras Currency Strategist
http://www.forextradersdaily.com/category/blog/
text with friendly permission of forextradersdaily.com © forextradersdaily.com, 2009
* Dustin pass, founder of RSS News trading group, auto trading system is ready
Its especially designed for traders who may not have the time to trade. To get started, first you must open a trading account using the links on the page posted below. Just for opening an account you will receive a sign on bonus based on the amount you start with. You can see the exact bonus amounts in the signup page listed below. The system requires a minimum balance of $5,000.00 dollars to properly function and any new account with a starting deposit balance over $5,000 will receive a bonus that will almost cover the first month of service.
All accounts will also receive three-tenths of a pip rebate for every lot traded. In fact, based on historical trading a $5,000 account may produce enough in rebates to cover the monthly cost of the subscription. Once your account is open and funded you will receive the information on how to install the auto trading system. Keep in mind that the creators of this system are only taking on 100 new accounts to start with. Once the first 100 accounts are set up and running smoothly they will consider taking on others.
If you have any questions with the account opening process, the folks at http://www.fxdealerselect.com/ are available to help.
The info you need to get started can be found at this link: www.fxdealerselect.com/autotrader.htm.
text with friendly permission of forextradersdaily.com. © forextradersdaily.com, 2009
Additional informations:
* e-toro regulary trading contests
eToro, forex broker located in Cyprus, runs two kinds of championships: A monthly real championship and a weekly practice championship. During the weekend (from Friday 5 pm EST till Sunday 5 pm EST) the market is closed so the real trading accounts are not active. The Demo mode is working with historical rates and the Demo trading is active but the profits / losses that you gain during the weekend will not be included in the calculations for the Demo championship.
As for the Demo account balance, it changes according to your trading profits / losses. contact mail is: support@eToro.com
To clarify, the tournament winners for each week are chosen based on the gains for that week, meaning that it doesn't matter how much the trader has in his balance at the beginning or at the end of the week, but the difference between the two, meaning the winnings. The traders with the highest winnings for the week win the prizes. Thew traders balance isn't modified in any way after each tournament. The contest is indeed on a weekly basis, and winners are chosen every week, regardless of the results of last week's tournament. Winning the tournament does not in any way prevent the trader from participating or winning in the next tournament, and the trader is entered automatically once he starts trading in demo mode.
The championships are reset every week since the prizes are awarded to the traders with the biggest profit that week. The profit doesn't depend on how much virtual money the trader starts out with, only the difference between starting and ending point. Of course, players with more virtual money in their accounts have a better chance of making higher profits, but if you are consistently successful in your trading, the traders profits will increase exponentially and within a short period of time he'll have as good a chance as any to win the prizes.
text with friendly permission of eToro © eToro.com 2009
* forex affiliate programs:
e-toro also offers an affiliate program
or via commission junction (http://www.cj.com/), cj advertiser id 2226687, contact mail: amir@etoro.com
Pick the lucrative affiliate commission plan of your choice:
Revenue Share: Earn 25% of the revenue eToro generates from your referred users, for the entirety of these users' lifetime of trading forex at eToro!
Their former CPA plan, get $100 for each new referred user who makes a deposit at eToro, is replaced in 2009 with a new dynamic CPA commission plan: be rewarded with up to $200 for each new depositing trader you refer to eToro, in this plan your commission is equal to the first deposit amount of the referred user. For example if your trader makes a first deposit of $150 your commission will be $150.
On top of that, as an eToro affiliate you'll automatically receive 20% of the commission earnings for all your sub affiliates, so your referred traffic will keep on generating profits.
Notes:
Regarding the RevShare commission plan, the revenues are calculated based on the pip spreads that eToro collects on the real money trades the user carries out, minus bonuses and charge-backs. The CPA commission plan is not valid for affiliates located in China. Any affiliate located in China who wants to join the CPA commission plan, please contact: partners@etoro.com
Regarding the Sub Affiliates commission plan, the eToro Affiliates will automatically receive20% of the commission made by sub affiliates they refer. For complete details regarding the eToro Partners Program please read their Terms and Conditions. Please remember that Etoro doesn't accept users from the USA market and eToro has the right to cancel any US transaction any time.
text with friendly permission of eToro.com © eToro.com, 2009
Market predictions 2009:
Probably its not possible to avoid market predictions in the beginning of a new trading year, but we would advice extra caution in these market conditions, where every main economy is in trouble and its just a question whose economu is not as bad as the others. This idelaly means range conditions and no clear trend, however we have two market predictions for EUR/USD from two respected forex brokers we dont want to keep for us:
"The market will hear the ECB inflation rhetoric and then see the ECB rate cuts and likely traders will punish the euro for the deception. EMU economic recovery will be delayed by the very late start of the ECB in cutting rates and the paltry economic stimulus programs of the states; the European recession will keep the euro down.
The euro will reach 1.2000 by mid-year and 1.1000 by year end.
If this comes true please write, if not, please forebear."
Joseph Trevisani
FX Solutions, LLC
Chief Market Analyst
text with friendly permission of Joesph Trevisani © fxsolutions.com, 2009
The Euro surged higher in December, adding over 11% to date against the US Dollar. However, the Euro also tops the list when it comes to adverse interest rate change expectations: overnight index swaps suggest the dollar will gain the most in yield against the single currency. Also working against the Euro, it remains highly overvalued as compared to the exchange rate implied by purchasing power parity. Finally, our Speculative Sentiment Index suggests open interest has fallen substantially in recent weeks, alluding to illiquid markets prone to knee-jerk volatility. This puts the significance of the latest down move into question, for even though the market appears to be pricing in a considerably stronger Euro there are far fewer traders behind the move than at the last major turning point in the trend. On balance, while the recent performance in EURUSD is in every way impressive, the valuation outlook remains bearish.
text with friendly permission of fxdaily.com © fxdaily.com, 2009
For contact: fxjournal@freenet.de
Subscription (free) of the journal: subscribe-fxjournal@freenet.de
This is a free information site for forex traders.
http://www.freewebs.com/forexcomparison
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at this journal are those of the individual authors and do not necessarily represent the opinion of forexcomparison or its management. Forexcomparison/fxjournal has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.
Any opinions, news, research, analyses, prices or other information contained on this website, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. forexcomparison/fxjournal will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
© fxjournal 2009 ALL RIGHTS RESERVED