October 8, 2020

Forex4you Technical Analysis 23 May 2013

AUD/USD: Bouncing in Down-Trend

The aussie has resumed its descent and reached close to previous lows at 0.9580 which might be expected to provide support. It has recovered strongly today and climbed back up although it will meet resistance at 0.9765 from the down-sloping trend-line for the move, at which point it could stop and resume its descent. The 0.9387 lows are next in focus although ultimately the target from the recent breakout of the multi-month triangle at 0.8010 provides the eventual endpoint for the move down down.

EUR/USD: Still on Trend-Line Support

The EUR/USD pair is still trading at the level of the July ’12 trend-line having pulled back to it after last Friday’s decisive break proved premature. We have had three days in a row trading around the level of the trend-line but eventually I think it probably will break lower again targeting 1.2580, with a move below the 1.2795 lows confirming. In the event of a bounce I’d want to see a break above the 1.3000 level acting as confirmation for a possible rally up to the 1.3170 highs.

GBP/USD: Bearish Target Reached

The GBP/USD has fallen to the target at 1.5010 generated after the breakdown from the bullish channel on the 10th of May. It is currently consolidating on an old trend-line at the same level and could bounce higher to perhaps the level of the monthly pivot at 1.5190. Eventually we shall probably see a move down to match the 1.4831 lows. From an Elliot-wave perspective the pattern we are presented with from the December ’12 highs is probably an impulse wave with wave 5 unfolding at the moment, and likely to match the end of 3 at the very least.

Analysis By: Joaquin Monfort, Forex4you Analyst

Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether forex trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

Technical Analysis
October 8, 2020

The Secrets of Millionaires

So I hope you like it and begin your financial freedom journey. As always please visit the web site at for more information about investing & trading in Forex. Remember the only way to be a successful trader is education and discipline and Forex Trading Strategies the ebook gives you exactly that. Now you can pay through Clickbank and Alertpay.
By Kristyn Kusek Lewis

They’re just like you. But with lots of money.

When you think “millionaire,” what image comes to mind? For many of us, it’s a flashy Wall Street banker type who flies a private jet, collects cars and lives the kind of decadent lifestyle that would make Donald Trump proud.

But many modern millionaires live in middle-class neighborhoods, work full-time and shop in discount stores like the rest of us. What motivates them isn’t material possessions but the choices that money can bring: “For the rich, it’s not about getting more stuff. It’s about having the freedom to make almost any decision you want,” says T. Harv Eker, author of Secrets of the Millionaire Mind. Wealth means you can send your child to any school or quit a job you don’t like.

According to the Spectrem Wealth Study, an annual survey of America’s wealthy, there are more people living the good life than ever before—the number of millionaires nearly doubled in the last decade. And the rich are getting richer. To make it onto the Forbes 400 list of the richest Americans, a mere billionaire no longer makes the cut. This year you needed a net worth of at least $1.3 billion.

If more people are getting richer than ever, why shouldn’t you be one of them? Here, five people who have at least a million dollars in liquid assets share the secrets that helped them get there.

1. Set your sights on where you’re going
Twenty years ago, Jeff Harris hardly seemed on the road to wealth. He was a college dropout who struggled to support his wife, DeAnn, and three kids, working as a grocery store clerk and at a junkyard where he melted scrap metal alongside convicts. “At times we were so broke that we washed our clothes in the bathtub because we couldn’t afford the Laundromat.” Now he’s a 49-year-old investment advisor and multimillionaire in York, South Carolina.
There was one big reason Jeff pulled ahead of the pack: He always knew he’d be rich. The reality is that 80 percent of Americans worth at least $5 million grew up in middle-class or lesser households, just like Jeff.

Wanting to be wealthy is a crucial first step. Says Eker, “The biggest obstacle to wealth is fear. People are afraid to think big, but if you think small, you’ll only achieve small things.”

It all started for Jeff when he met a stockbroker at a Christmas party. “Talking to him, it felt like discovering fire,” he says. “I started reading books about investing during my breaks at the grocery store, and I began putting $25 a month in a mutual fund.” Next he taught a class at a local community college on investing. His students became his first clients, which led to his investment practice. “There were lots of struggles,” says Jeff, “but what got me through it was believing with all my heart that I would succeed.”

2. Educate yourself
When Steve Maxwell graduated from college, he had an engineering degree and a high-tech job—but he couldn’t balance his checkbook. “I took one finance class in college but dropped it to go on a ski trip,” says the 45-year-old father of three, who lives in Windsor, Colorado. “I actually had to go to my bank and ask them to teach me how to read my statement.”

One of the biggest obstacles to making money is not understanding it: Thousands of us avoid investing because we just don’t get it. But to make money, you must be financially literate. “It bothered me that I didn’t understand this stuff,” says Steve, “so I read books and magazines about money management and investing, and I asked every financial whiz I knew to explain things to me.”

He and his wife started applying the lessons: They made a point to live below their means. They never bought on impulse, always negotiated better deals (on their cars, cable bills, furniture) and stayed in their home long after they could afford a more expensive one. They also put 20 percent of their annual salary into investments.

Within ten years, they were millionaires, and people were coming to Steve for advice. “Someone would say, ‘I need to refinance my house—what should I do?’ A lot of times, I wouldn’t know the answer, but I’d go find it and learn something in the process,” he says.

In 2003, Steve quit his job to become part owner of a company that holds personal finance seminars for employees of corporations like Wal-Mart. He also started going to real estate investment seminars, and it’s paid off: He now owns $30 million worth of investment properties, including apartment complexes, a shopping mall and a quarry.

“I was an engineer who never thought this life was possible, but all it truly takes is a little self-education,” says Steve. “You can do anything once you understand the basics.”

3. Passion pays off
In 1995, Jill Blashack Strahan and her husband were barely making ends meet. Like so many of us, Jill was eager to discover her purpose, so she splurged on a session with a life coach. “When I told her my goal was to make $30,000 a year, she said I was setting the bar too low. I needed to focus on my passion, not on the paycheck.”

Jill, who lives with her son in Alexandria, Minnesota, owned a gift basket company and earned just $15,000 a year. She noticed when she let potential buyers taste the food items, the baskets sold like crazy. Jill thought, Why not sell the food directly to customers in a fun setting?

With $6,000 in savings, a bank loan and a friend’s investment, Jill started packaging gourmet foods in a backyard shed and selling them at taste-testing parties. It wasn’t easy. “I remember sitting outside one day, thinking we were three months behind on our house payment, I had two employees I couldn’t pay, and I ought to get a real job. But then I thought, No, this is your dream. Recommit and get to work.”

She stuck with it, even after her husband died three years later. “I live by the law of abundance, meaning that even when there are challenges in life, I look for the win-win,” she says.

The positive attitude worked: Jill’s backyard company, Tastefully Simple, is now a direct-sales business, with $120 million in sales last year. And Jill was named one of the top 25 female business owners in North America by Fast Company magazine.

According to research by Thomas J. Stanley, author of The Millionaire Mind, over 80 percent of millionaires say they never would have been successful if their vocation wasn’t something they cared about.

4. Grow your money
Most of us know the never-ending cycle of living paycheck to paycheck. “The fastest way to get out of that pattern is to make extra money for the specific purpose of reinvesting in yourself,” says Loral Langemeier, author of The Millionaire Maker. In other words, earmark some money for the sole purpose of investing it in a place where it will grow dramatically—like a business or real estate.

There are endless ways to make extra money for investing—you just have to be willing to do the work. “Everyone has a marketable skill,” says Langemeier. “When I started out, I had a tutoring business, seeing clients in the morning before work and on my lunch break.”

A little moonlighting cash really can grow into a million. Twenty-five years ago, Rick Sikorski dreamed of owning a personal training business. “I rented a tiny studio where I charged $15 an hour,” he says. When money started trickling in, he squirreled it away instead of spending it, putting it all back into the business. Rick’s 400-square-foot studio is now Fitness Together, a franchise based in Highlands Ranch, Colorado, with more than 360 locations worldwide. And he’s worth over $40 million.

When extra money rolls in, it’s easy to think, Now I can buy that new TV. But if you want to get rich, you need to pay yourself first, by putting money where it will work hard for you—whether that’s in your retirement fund, a side business or investments like real estate.

5. No guts, no glory
Last summer, Dave Lindahl footed the bill for 18 relatives at a fancy mansion in the Adirondacks. One night, his dad looked out at the scenery and joked, “I can’t believe we used to call you the black sheep!”

At 29, Dave was broke, living in a small apartment near Boston and wondering what to do after ten years in a local rock band. “I looked around and thought, If I don’t do something, I’ll be stuck here forever.”

He started a landscape company, buying his equipment on credit. When business literally froze over that winter, a banker friend asked if he’d like to renovate a foreclosed home. “I’m a terrible carpenter, but I needed the money, so I went to some free seminars at Home Depot and figured it out as I went,” he says.

After a few more renovations, it occurred to him: Why not buy the homes and sell them for profit? He took a risk and bought his first property. Using the proceeds, he bought another, and another. Twelve years later, he owns apartment buildings, worth $143 million, in eight states.

The Biggest Secret? Stop spending.
Every millionaire we spoke to has one thing in common: Not a single one spends needlessly. Real estate investor Dave Lindahl drives a Ford Explorer and says his middle-class neighbors would be shocked to learn how much he’s worth. Fitness mogul Rick Sikorski can’t fathom why anyone would buy bottled water. Steve Maxwell, the finance teacher, looked at a $1.5 million home but decided to buy one for half the price because “a house with double the cost wouldn’t give me double the enjoyment.”

I hope you like it and please remember to always visit pips 911 so you can see economic news and daily graphic analysis.

October 8, 2020

PipsMiner LE Forex Robot performance

Ok everyone, here are the most recent performance data for the PipsMiner LE forex robot.

This is the companion robot for the LE

results are from 12-15-09 thru 2-09-2010

Pips Miner LE

Total trades = 16
win – loss = 15-1
total pips = +275
avg win = +35
avg loss = -250

If you were trading both the LE and SE in combination, you would have a total of 605 pips after 2 months of trading.

Settings Recap:

I did not include leverage settings, because this test was purely to measure pips earned, not account growth. will provide that in a future update.. for now focusing on tracking pips.

Using default settings as is out of box (or download)

Attached is a screen shot of all trades…

…good trades,


LE Forex
October 8, 2020

Markets Lower as Debt Headlines Shift Focus; FTSE Falls through 5330 Support

It is looking like the Congress will be unable to construct a clear majority and a failure to pass this vote will trigger drastic cuts in many essential government programs (potentially limiting growth prospects). This is where the majority of the market’s attention will be focused as we start the week but these events are unlikely to be as jarring as the debt ceiling debacle that was seen over the summer.

In Europe, Spain elected a new government (led by the Popular Party) and this should be mildly encouraging for risk sentiment but the new Prime Minister (Rajoy) continues to make comments about rising funding costs in Spanish debt. The last bond auction in Spain shows that the country is following the same trajectory as Greece and Italy so markets will pay close attention to comments made by the new PM as a way of determining Spain’s next plan of action. The Euro did managed to post gains into the close of last week as on rumors of increased EU loan funds from the IMF but this rally was short-lived and the Euro downtrend has resumed on Monday.

In Japan, we will see the BoJ release the minutes from the October 27th monetary policy meeting, and this will be particularly relevant for currency markets as discussions centered on the bank’s asset purchase increases and the potential negatives of this year’s rally in the Yen. Any mention on additional intervention possibilities will likely see the JPY sell off (mostly against the US Dollar).

Read the rest of this article at our spread betting site where we are covering daily financial analysis to help you with your financial investment. We also covering topics around spread bet companies such as ig index, city index and more.

Debt Headlines
October 8, 2020

Markets Higher on Improvements in Regional Employment Data; S and P 500 Meets 1215 Target

Risk sentiment was higher in the Asian session as macro data from a variety of areas came in higher than expected and analyst comments have suggested that the EU is closer to solving its political stalemates in terms of the latest EFSF votes. The minutes from the September 20-21 FOMC meeting revealed a slightly more dovish tone than was expected, as some voting members were seen as being in favor of expanding their asset purchase program as a means for stimulating the US economy. Weakness in the labor market continues to be the main issue for the Federal Reserve and as long as the macro data fails to show improvement, we will probably continue to see comments like these from central bank members.

Labor figures were released in Australia overnight, and came in at the highest level since the beginning of this year. The unemployment rate for the month of August also improved to 5.2% (5.3% was the previous figure). The data is significant, not only for growth forecasts, but also in terms of the way this will affect the policy stance within the RBA and it looks as though there is less of a chance for a cut in interest rates before then end of 2011. All of these factors, on balance, were supportive of risk sentiment and as long as we do not see more negative headlines relating to EU political voting obstacles, equity markets and high yielding currencies should continue to see some lift after the summer declines.

Read the rest of this article at our spread betting site where we are covering daily market analysis to help you in your financial spread betting business. We also covering many topics around the spread bet companies such as ig index, city index and more.

Regional Employment
October 8, 2020

Markets Calm on Light News Day; AUD/USD Downtrend Tests Parity

As expected, price volatility calmed overnight and ranges in equity and currency markets have tightened relative to what was seen in recent weeks. Currencies are mostly unchanged from yesterday while stock markets saw a slow drift lower. Some of this activity could be explained by the fact that Federal Reserve comments (from New York President Dudley) were supportive of the Euro and made the suggestion that we will not see any of the member countries abandon the currency.

Headlines, though, were mostly inconsequential but there was the Senate confidence vote in Italy, which passed, and showed the government’s approval of the new Prime Minister (Mario Monti). Another vote is scheduled for the lower house (the Chamber of Deputies) but most analysts expect this vote to pass as well. There are still internal disagreements that are being voiced but these mostly relate to taxes on the wealthy so at the moment it appears Italy has a cohesive majority body in the leadership role.

In the US, macro data came in strongly, as housing starts and jobless claims managed to beat market expectations. Other market chatter centered on an interview from Bank of England member Weale who showed support for renewed injections of quantitative easing, in the form of Gilt purchases through 2012 if we continue to see weakness in the economic data. The GBP met some selling overnight as Weale’s comments also suggested that the UK economy might have already entered into recessionary territory.

We did have some UK macro releases, which helped stall some of the pressure on the GBP, as October Retail Sales showed improvements at 0.6% for the monthly figures and 0.9% for the yearly data. The upside impact of the data was limited, however, because of the volatile nature of the report and the fact that we could be seeing some unnatural distortions as consumers make more purchases in anticipation of the Christmas holiday season.

Read the rest of this article at our spread betting site where we are covering daily market analysis to help you with your financial investment. We also have discussion around spread bet companies such as ig index, city index and more.

October 8, 2020

Eur/Usd:Forex Strategy

4Hr Chart Eur/Usd

When trading this Forex Strategy using a trend line break like this it is important to set a solid stop loss above the trend line in case the trade continues in the current upward direction.

The current support level for this pair is 1.2138 look for this level to either hold when it gets tested next or break down for bigger losses. The next level of resistance for this pair is 1.2600 and then
1.3000 those are key levels that we could see a sharp bounce off of
these areas to the downside.

You can expect to get trading advice such as this everyday when you subscribe to our premium trading service.

Thanks for reading and take glance at the recommendations below.

Other Blogs that are writing about Eur/Usd:

Forex Crunch: Has Forex Strategy and Updates
The GeekKnows-Eur/Usd daily

One other tool free trading tool I recommend is Currensee where you can see what other traders are doing and learn a style from them.

October 8, 2020

Euro Under Pressure as Bond Yields Story Remains at Forefront; S&P 500 Support Seen at 1240

The Euro continues to sell off as market focus centers on European bond yields, which are not only reaching record highs in Italy but also rallying in many of the peripheral EU nations as well.  Market speculation of credit downgrades in Austria added to the volatility but things managed to calm down after Moody’s dismissed these rumors.  Other hard-hit areas were France and Denmark, which is essentially indicative of a widespread flight from European bonds, even in the core countries.

Macro data showed that both the German and Eurozone ZEW surveys are identifying renewed economic weakness but some positives were seen in the UK, as BoE comments suggested that inflation will encounter a drastic downward correction through 2012 and reach the central bank’s target level of 2% by the end of next year.  Regional focus today will come with the BoE Quarterly Inflation Report, and if these comments are supported by the data, the GBP likely to extend losses against most of the majors.

US macro data was relatively encouraging (but not enough to push equity markets into positive territory) as retail sales passed expectations at 0.5% and the New York Empire State manufacturing report showing a strong improvement from last month’s numbers (which were well below historical averages).  Inflation at the producer level was also lower than expectations but the core reading remains slightly above the Federal Reserve’s target levels, at 2.8%.

Fed speakers were seen adding to this barrage of economic data, as differing comments from members Fisher and Evans argued the appropriate level of monetary stimulus for the US economy.   Evans actually suggested that additional stimulus is necessary, so it is relatively surprising that equity markets could not manage to push into positive territory given the mostly encouraging economic data that was released yesterday.  From this, we can see what is really driving market activity as traders continue to be fixated by headlines and market speculation.  This type of environment is rarely positive for equity markets so expect stock rallies to be sold into for most of this week.

Looking forward, macro releases will be mostly inflation-related, as US and Eurozone CPI will be released along with the UK quarterly inflation report and claimant count.  Additional US data will come in the form of Treasury Inflows (which could get more attention than it normally does) and the monthly Industrial Production figures.  The Fed’s Dahlgren, Rosengren, and Lacker are also scheduled to speak.

Read the rest of this article at our spread betting site where we are covering daily market analysis to help you with your financial investment. We also covering topics on spread bet companies such as ig index, city index and more.

October 8, 2020

Congressional ‘Super Committee’ Fails to Reach Budget Agreement; S&P 500 Pressures Support at 1180

The Euro managed to gain back some of its Monday losses after European Finance Ministers approved the next loan disbursement to Greece (valued at (8 billion Euros), which will be paid out at the end of the month.  This helped equity markets and risk sentiment on the whole but this was tempered by comments from Fitch which suggested that the credit outlook rating in the US might be changed from “stable” to “negative”  despite the fact that the other ratings agencies are not expected to make similar moves.

On balance, markets appear to be looking at these issues favorably but there is also the possibility that the rise in equities and high yielding currencies should be viewed as profit taking on short positions rather than a genuine shift in the underlying bias.  Macro data will come mostly from the US today (as there are no major government or corporate releases scheduled in Europe, Asia or the UK).

US releases will be seen with GDP and Personal Consumption Data, which come with the Richmond Fed Manufacturing Survey and the latest FOMC monetary policy meeting minutes.  US corporate earnings are mostly from second tier companies but Hewlett-Packard was the main story yesterday, losing 2.3 percent in aftermarket trading on weaker expectations for fourth quarter earnings (driven by write-downs and slower PC sales).

Read the rest of this article at our spread betting site where we are covering daily financial analysis to help you with your investment. We also covering topics around ig index, city index and more.

Super Committee
October 8, 2020

Becoming Better at Forex Trading

Thanks to the rise of online trading, everyone now has the potential to enjoy the benefits of Forex trading. To become good at it, though, you will need to do much more than simply setting up an account and loading it with cash. This is a truth few people realize until it’s too late and they’ve lost every penny which is why this article will focus on a few suggestions that will help improve your Forex trading.

There are seven different currency pairs that are referred to as major pairs and a lot of secondary ones. While the diversity offers veteran traders a multitude of trading opportunities, it can be a serious drawback for the novice. Any experienced trader will tell you that you need to learn how to trade one currency pair properly before you move on to another. It might seem ridiculous to give up so many trading opportunities but by focusing on one pair you will soon find it easier to predict its movements because you learn all its quirks. Your ability to accurately predict price movement will also strengthen since your economic understanding of the currencies in question will increase. Focusing on a single pair will translate into greater profits.

When trading, most people think of fundamental and technical analysis. Before entering a trade, however, there is another component that must be studied and that is trader sentiment. Since the market consists of humans who are trading, it is subject to how they feel regarding various issues, including such things as the economy of a country, which will impact price. For example, let’s assume that EUR/USD price charts are showing there’s an opportunity for a profitable trade. The Euro is becoming stronger and the strong trend revealed by your charts makes it clear it’s time to buy. Suddenly, you find yourself fifty pips in the red because the market has slammed the breaks on and changed direction. What you didn’t know was that a major economy in the EU was denied help, for example, which means they will default on their loans. Thus, traders lost faith in the Euro and began to sell like there’s no tomorrow, weakening the Euro. For this reason, understanding and analyzing market sentiment is essential alongside fundamental and technical analysis.

It’s easy to lose your way and become overwhelmed with the hundreds of indicators at your disposal. You could even overlook some excellent trading opportunities because you are attempting to utilize too many indicators at one time and the market never meets all your parameters. This is a good time to go back to the simple things, especially if your chart has so many indicators on it, you can barely see the candles. Price moves quite simply and that’s up and down. If price is making lower lows, then it’s going down, and if it’s making higher highs then it’s going up. In this situation, the trend will likely continue. If price is making a lower high or a higher low, then it’s reasonable to assume it will retrace. You’ll be surprised at how much you can deduce from simply watching the price move. Sometimes, taking the simple approach is much more effective.

When you see how many things you need to master, Forex trading can seem pretty hard. Despite this, the benefits are completely worth the effort and dedication required. You should never create a live account, though, before you are consistently profitable with a demo account. This way you are more likely to make a profit when you switch to a live account.

Better at Trading