Saturday, August 21, 2010
USDJPY may be forming a cycle bottom at 84.72
USDJPY may be forming a cycle bottom at 84.72 level on daily chart. Key resistance is at the falling trend line, a clear break above the trend line resistance could confirm the cycle bottom, then the following upward movement could bring price to 87.00-88.00 area. Support is at 84.72, only …
Forex For Beginners – The Pro’s Don’t Use Forex Robots And Neither Should You
By Mark Slater – Most forex for beginners articles and forums concentrate mainly on automated forex trading robots guaranteeing that you can make huge sums of money without doing anything more than using a simple and cheap software program. Just think about that for a moment – if these programs …
Friday, August 13, 2010
Currency Trading: An Introduction
Forex, foreign exchange and fx trading are all different names for currency trading, where one currency is exchanged for another in the hope of making money when the exchange rates change. These rates are constantly changing due to market news, national events or a knock on effect from changes in the stock exchange.
At the most basic level, imagine you exchanged some US dollars for British pounds. You might give $100 to buy £65. Then the rate changes in your favor so you exchange them back again. Now with the new rate you get $102 for your £65. You just made $2 or 2% of your investment.
Currency traders do this kind of thing all of the time with the aim of increasing their funds through many small trades. They trade on margins so that they can control larger amounts with only a small investment. In the above example, you might only have to hold $10 in your brokerage account to make the purchase even though the amount is $100. The broker covers the rest on the assumption that the market is unlikely to change by more than 10% in a short time.
Forex trading has been around for over 30 years but until the rise of the internet it was almost entirely in the hands of banks and other institutions with large investment funds. These days ordinary people can get involved on their home computers although the financial institutions are still the major players. When I tell you that around US $4 trillion changes hands every day on the currency trading markets you will understand that only a small part of this belongs to ordinary people like you and me.
Foreign exchange is a worldwide market and because of the different time zones around the world you can trade almost any time. Sydney, Australia is the first currency exchange market to open each day, and by the end of the business day in New York the Sydney market is open again for the next day's trading. So for 5 days per week this is truly a 24 hour market. It only closes on weekends.
You are not limited to dealing in your own country's currency so if your national economy is in a very unpredictable state you can switch to trading two other currencies that are a little more stable. While it is true that a volatile situation with big fluctuations can give you big profits in a short time, it is extremely risky to get involved in a currency that is experiencing a crisis.
These days brokers are going all out to attract the new type of home investor who does not have a lot of capital, so you can get started with just a few hundred dollars. They will provide you with software that allows you to make trades on your account, and real time market information including charts to show you the direction of movement of the different currency pairs.
With so much money changing hands every day, foreign exchange is a high liquidity market. This means that your capital will not be tied up for the long term as it might be if you bought certain kinds of stocks.
Apart from some funds to invest, the main things that you need to get started with currency trading are good money management skills, self discipline, a profitable system to follow and perhaps a forex robot to apply your system for you. When you have these in place, currency trading can be fun and quite profitable.Menu
Currency Trading
--------------------------------------------------------------------------------
At the most basic level, imagine you exchanged some US dollars for British pounds. You might give $100 to buy £65. Then the rate changes in your favor so you exchange them back again. Now with the new rate you get $102 for your £65. You just made $2 or 2% of your investment.
Currency traders do this kind of thing all of the time with the aim of increasing their funds through many small trades. They trade on margins so that they can control larger amounts with only a small investment. In the above example, you might only have to hold $10 in your brokerage account to make the purchase even though the amount is $100. The broker covers the rest on the assumption that the market is unlikely to change by more than 10% in a short time.
Forex trading has been around for over 30 years but until the rise of the internet it was almost entirely in the hands of banks and other institutions with large investment funds. These days ordinary people can get involved on their home computers although the financial institutions are still the major players. When I tell you that around US $4 trillion changes hands every day on the currency trading markets you will understand that only a small part of this belongs to ordinary people like you and me.
Foreign exchange is a worldwide market and because of the different time zones around the world you can trade almost any time. Sydney, Australia is the first currency exchange market to open each day, and by the end of the business day in New York the Sydney market is open again for the next day's trading. So for 5 days per week this is truly a 24 hour market. It only closes on weekends.
You are not limited to dealing in your own country's currency so if your national economy is in a very unpredictable state you can switch to trading two other currencies that are a little more stable. While it is true that a volatile situation with big fluctuations can give you big profits in a short time, it is extremely risky to get involved in a currency that is experiencing a crisis.
These days brokers are going all out to attract the new type of home investor who does not have a lot of capital, so you can get started with just a few hundred dollars. They will provide you with software that allows you to make trades on your account, and real time market information including charts to show you the direction of movement of the different currency pairs.
With so much money changing hands every day, foreign exchange is a high liquidity market. This means that your capital will not be tied up for the long term as it might be if you bought certain kinds of stocks.
Apart from some funds to invest, the main things that you need to get started with currency trading are good money management skills, self discipline, a profitable system to follow and perhaps a forex robot to apply your system for you. When you have these in place, currency trading can be fun and quite profitable.Menu
Currency Trading
--------------------------------------------------------------------------------
Currency Trading - Crafting a Better Online Forex Trading Experience
At ForexTraders.com, we believe that successful currency trading requires knowledge, experience and a disciplined approach to the market. Every page of this website is dedicated to these three factors in some fashion. The popularity of Forex Trading has grown dramatically in the last five years as globalization swept the planet, raising Online Forex Trading to higher levels of sophistication, complexity and specialization. Time optimization is now extremely critical. Professional support must make every second count. Success in foreign exchange depends now, more than ever before, on wisely guided execution. ForexTraders.com has experienced professionals in your corner providing expert advice, educational tools, forex market commentary, and best practices guidance to ensure more time for your active trading.
Major Currencies
Currency Symbol Units per USD USD per Unit
Australian Dollar AUD 1.1103 0.9007
Canadian Dollar CAD 1.0377 0.9637
Euro EUR 0.7778 1.2857
Japanese Yen JPY 85.956 0.0116
Pakistan Rupee PKR 85.59 0.0117
U.A.E Dirham AED 3.6729 0.2723
UK Pound Sterling GBP 0.6392 1.5646
US Dollar USD 1 1
Australian Dollar AUD 1.1103 0.9007
Canadian Dollar CAD 1.0377 0.9637
Euro EUR 0.7778 1.2857
Japanese Yen JPY 85.956 0.0116
Pakistan Rupee PKR 85.59 0.0117
U.A.E Dirham AED 3.6729 0.2723
UK Pound Sterling GBP 0.6392 1.5646
US Dollar USD 1 1
FOREX RATES
Currency Symbol Bank Buying
TT Clean Bank Selling
TT & OD Charts
Australian Dollar AUD 77.03 77.21
Canadian Dollar CAD 82.29 82.48
Danish Krone DKK 14.77 14.81
Euro EUR 110.08 110.34
Hong Kong Dollar HKD 11.02 11.05
Japanese Yen JPY 0.99 1
Saudi Riyal SAR 22.84 22.89
Singapore Dollar SGD 63.02 63.17
Swedish Korona SEK 11.61 11.64
Swiss Franc CHF 81.64 81.83
U.A.E Dirham AED 23.32 23.37
UK Pound Sterling GBP 133.76 134.08
US Dollar USD 85.65 85.85
open markeets rates international rates
TT Clean Bank Selling
TT & OD Charts
Australian Dollar AUD 77.03 77.21
Canadian Dollar CAD 82.29 82.48
Danish Krone DKK 14.77 14.81
Euro EUR 110.08 110.34
Hong Kong Dollar HKD 11.02 11.05
Japanese Yen JPY 0.99 1
Saudi Riyal SAR 22.84 22.89
Singapore Dollar SGD 63.02 63.17
Swedish Korona SEK 11.61 11.64
Swiss Franc CHF 81.64 81.83
U.A.E Dirham AED 23.32 23.37
UK Pound Sterling GBP 133.76 134.08
US Dollar USD 85.65 85.85
open markeets rates international rates
Saturday, August 7, 2010
US ELFA: New Business Leasing Activity +25% in June
WASHINGTON (MNI) – The following is the text of the Equipment
Leasign and Finance Association’s summary of its monthly leasing and
finance report, published Tuesday:
Equipment Leasing and Finance Association’s Survey of Economic
Activity: Monthly Leasing and Finance Index
Leasign and Finance Association’s summary of its monthly leasing and
finance report, published Tuesday:
Equipment Leasing and Finance Association’s Survey of Economic
Activity: Monthly Leasing and Finance Index
US sells $38 bln 2-year notes at 0.665; bid to cover 3.33
Solid demand, it would appear. Rates are a good deal higher today, so that likely helped demand. We’ve been below 0.60% in recent days.
EUR/JPY testing highs late in trading day
In this, the final hour of the trading data, EUR/JPY is attacking session and range highs in the 114.30 area. I have a sinking suspicion there is options related interest at 114.50 and 115.00, but I can’t prove it That should slow any rally, but as we’ve seen in EUR, …
US Sen.Reid: Hopes to Begin Senate Debate on Energy Bill Soon
–Senate Majority Leader: Want to Finish Work on Small Biz Bill First
–May Also Try to Pass Food Safety Bill Before Energy Debate
–Senate Will Take Up Kagan Nomination Next Week
By John Shaw
WASHINGTON (MNI) – Senate Majority Leader Harry Reid said Tuesday
he will try to begin …
–May Also Try to Pass Food Safety Bill Before Energy Debate
–Senate Will Take Up Kagan Nomination Next Week
By John Shaw
WASHINGTON (MNI) – Senate Majority Leader Harry Reid said Tuesday
he will try to begin …
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