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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,

Bot

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.

Markets
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
commentary

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.

Strategy
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.

Euro
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
October 8, 2020

Three Ways to Improve Your Forex Trading

Trading currencies seems to be extremely popular among people who wish to replace or supplement their existing income. Most people end up losing all their money, though, because they have a tendency of being extremely impatient and trying to run before they can crawl. You’ll be glad to know that if done correctly, Forex trading can be lucrative. This article will cover a few suggestions that should help you improve your Forex trading.

The biggest problem most new Forex traders have is that they throw themselves into the market before they learn how to trade properly. They think they can start making a profit right away, with just a few courses and books under their belt. After, they aren’t sure why and how they lost their whole account. Forex trading is not a way to make money overnight and requires quite a bit of hard work and dedication to make a profit. You have to practice trading with a demo account because trading live is completely different to theory and take the time to learn the theory as well. It is essential, for this reason, for you to practice trading on a demo account for a while or, preferably, until you are consistently profitable. Only then should you put your own money into the markets.

Any successful Forex trader needs to know how to conduct technical analysis, which is the study of price movement. Since history has a habit of repeating itself, the idea is that by looking at how price has reacted in the past, it will be easier for a trader to forecast how it will behave in the future. Basically, one presumes that price is likely to behave as it did in the past and traders use price charts to identify potential trading opportunities. However, technical analysis can be highly subjective as two traders are very likely to see completely different things on the same price chart. You need to learn technical analysis, though, if you wish to succeed at this occupation, which means being able to identify chart patterns, being able to apply indicators such as Bollinger bands, MACD and pivot points.

Learning to identify candlestick patterns will benefit your trading greatly. A candlestick is one way of presenting currency value for the timeframe being traded, showing the highs, lows, opening and closing prices. Since you can see the direction of the market at a glance, considering that the bodies of candlesticks are color coded according to whether price is moving up or down, they have become extremely popular with traders. The shape of a candle can signal a change in the direction of the market or the continuation of a trend, and that is what candlestick patterns refers to. A candle with a small body and a long tail, with price closing higher than it opened, is known as a hammer, for example. If it appears after a series of candles where price closed lower than it opened, it usually signifies that the market will change direction. There are plenty of patterns that can also help to determine whether or not the trend will continue.

Forex trading can seem daunting, especially when you realize exactly how many concepts you have to understand. You will have to put quite a bit of work in, but it’s more than worth it. But never put money into the market before you have proven results on a demo account first. This increases the chances of your live account being profitable.

Ways to Improve
October 8, 2020

Forex Factory Simple Trading Strategy

Today I want to show everyone a very simple yet powerful trading strategy that I saw in Forex Factory. For this strategy you don’t need any indicators and all you need is a live forex chart.

This system can generate a daily profit of about 30-50pips 
It is made for the U.S trading session.

Here are the stages for setting up the system:

1. Use the M15 Chart for a USD Major pair, example like EUR/USD.
2. Add a vertical line at 14:00 (EST) time on your Chart.
3. Add a vertical line at 16:00 (EST) time on your Chart.
4. Make a Horizontal line at the low of candles in the range.
5. Make a Horizontal line at the high of candles in the range.

Now you should have a square or a rectangle drawn in your chart which is a typical range. All you need to do to complete the trading system is place sell stop at the low with stop loss at the high and a buy stop at the high with a stop loss at the low.

Ideal Targets: You should aim for about 30-50pips but if you think it will go stronger then just leave it with no targets. You can also use a 15 pip trailing stop if you have that feature.

Trading system was first found in Forex Factory. Please comment if you find the system profitable.

Trading Strategy