February 2009 Blog Posts (6)

Daily FX Trends of Major Currencies



USD



Friday saw brokers trading the US Dollar bring it down against the Euro, The British Pound, the Australian and New Zealand Dollars and the Swiss Franc. The drops came after a dismal US jobs report had shown that in January there were roughly 600,000 new applicants for unemployment insurance, a 34 year high, bringing the total number of unemployed since the recession began last February, to 3.8 Million. The US unemployment rate now… Continue

Added by princess Todd on February 10, 2009 at 12:20pm — No Comments

Trading Smart vs. Trading Hard

Have you ever heard that a change is as good as a rest? Have you noticed that you can get more done after having an extra day off, i.e. a vacation or holiday?



There was a study done with some men that were unloading heavy objects from railroad cars. The first group would unload one item then go right back and start on another item. In an 8 hour shift each man could unload 12 items. The other group would unload an item then sit down and take a 15-minute break before starting on the… Continue

Added by Jed Norwood on February 6, 2009 at 9:30am — 1 Comment

So You Want to Be a Trader? Do you have what it takes?

5 things you must have in order to be a Forex Trader.



You must have a trading plan--The old saying if you don't have a plan then you are planning to fail is true. This is necessary for success in any goal you have in life not just trading. Make the decision today to be successful and make a plan. If you are trading without a plan stop get a plan then continue. You can learn more about trading plans in this… Continue

Added by Casey Stubbs on February 5, 2009 at 8:30am — No Comments

Why economic analysis just doesn't cut the mustard...

Yesterday I had an interesting day.



My report was cautious on the Euro and Swissie but I saw a bullish Pound and also Aussie Dollar, Dollar-Canada topping out just above 1.25 and a neutral to bearish Dollar-Yen. Overall a good day’s work.



As you know I published the Euro analysis as the daily free analysis:

Bias: I feel some care needs to be take today with momentum signals and structure conflicting

Losses pushed directly lower to the 1.2705 low. The pullback has… Continue

Added by Ian Copsey on February 4, 2009 at 11:28am — 1 Comment

When Adding Positions Follow These Guidelines

a. Add only to winning positions.

b. Never add to a losing position. One of the most important money management rules that a trader should never break is ‘Never add to a losing trade’.Trades are split into winners and losers, and if a trade is a loser, the chances of it turning right around and becoming a winner are too small to risk more money on. If a trade is a winner but looks like a loser, wait until it shows you what it really is before you add to it.

c. If you do this you will… Continue

Added by Jed Norwood on February 4, 2009 at 9:00am — No Comments

When To Trade With Real Money

When did the training wheels come off the bike? When does the parent let the new driver go solo? When can the new pilot fly solo? When does a trader start to use real money? The answer to these questions will be different for everyone.



One of the first things in each of these examples would be the level of confidence the participants have in themselves. With the bike rider, it might be when he/she does not touch the training wheels any more. With the student driver and pilot, it… Continue

Added by Jed Norwood on February 2, 2009 at 9:30am — 2 Comments

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