Top Performers!
By Mike Conlon | March 3, 2010
Forex System Selector (FSS) Top Performers!
When considering any automated forex system providers, not only is it important to have good strategies, but also it is equally important to have a good platform. FSS has you covered on both fronts!
When investors select individual EAs to use, market conditions will determine how effective any one EA will be. If market conditions aren’t ideal, even the greatest strategies can have less-than-desired results.
And that’s the problem with the “one size fits all” approach. You wouldn’t take a sports car four-wheeling, would you? Nor would you want a golf cart on the Autobahn!
Not to worry, the FSS has you covered, as there are over 40 different systems that can excel in a variety of different market conditions. Now you have the power!
Well by now you must be thinking to yourself that, “these systems couldn’t possibly be any good”. Am I right?
Well how does earning 9000 pips in one month with a 95% winning rate sound to you? That’s the type of system you will find in the FSS.
Here’s a look at our top 5 performing systems from last month:
Are you skeptical like I am? Don’t take my word for it. Come see for yourself.
Sign up for a free, FSS demo account here and see what all of the excitement is about.
Say “good-bye” to individual EAs and MT4 and “hello” to FSS, the future of automated forex trading!
Tags: account, blog, demo, demo account, forex, forex trading, forextrading, free, fx, idea, Il, invest, investor, market, pip, pips, rate, ssi
Topics: What To Look At In The Market | 1 Comment »
Yen Strength!
By Mike Conlon | November 25, 2009
As I’m getting ready to take off for Thanksgiving, was just taking a look through some different charts and noticed this one on dollar/yen (USD/JPY): (click chart to enlarge)
This 10-year chart of USD/JPY shows that the dollar is at its weakest against the yen in over 10 years! Remember that when this chart makes new “lows”, it actually means strength for Japanese yen. And you thought I was kidding about dollar weakness in my article below!
To learn more about how to use charts in your analysis, be sure to check out our currency trading courses!
To get started with a demo account, click here.
Happy Thanksgiving to All!
Tags: account, analysis, article, blog, charts, course, currenc, currency, currency trading, demo, demo account, dollar, forex, forextrading, fx, fxedu, Il, Japan, jpy, USD, Yen
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Loonie Tunes!
By Mike Conlon | October 12, 2009
In a continuation of the move that started last week in the Canadian dollar (CAD), this morning it’s the top performer (USD/CAD -.81%), (CAD/JPY +1.24%). A report out of RBC Capital markets advised clients to sell the US dollar and buy the Loonie as the analyst is forecasting that the Canadian government will raise rates sooner and more aggressively than the US.
Considering the unemployment figures they reported last week, this makes sense. However, I still have a concern about whether or not the Fed is going to be forced to take action with regard to it’s ahem “strong dollar policy”- that is the debasement of USD. Should Central Banks start dumping dollars, this could set off a nasty chain of events.
Obama is the “populist” President (see winning Nobel Peace Prize); I wonder at what point he will have to change tactics to prevent a total US dollar collapse.
While this appears to be “the trade”, when everyone and their brother screams sell dollars my natural contrarian disposition is to do the opposite. However, I don’t want to fight the trend (which is clearly down for USD) but I will be keeping close watch for the first signs of a reversal.
So my short-term outlook is dollar negative, but my longer-term thesis is that I’m looking for buying opportunities and signs that Fed may have to step in to support the dollar. Something’s gotta give here, I just hope its not support that send the dollar into free-fall!
To learn more about how government actions affect the various markets, check out our currency courses.
Or sign up for a free demo account if you want to practice your trading and see how the currency market works real-time.
And if you acted responsibly and want to hold on to your life savings and protect it from devaluation, get started with a live account today!
Tags: account, bank, cad, central bank, course, currenc, currency, currency market, demo, demo account, dollar, dow, fed, free, fx, fxedu, jpy, live, Mike Conlon, practice, rate, short, ssi, time, trade, trading, trend, unemployment, USD
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Nothing Big Today– Thankfully!
By Mike Conlon | October 7, 2009
As of 11AM EST, there are no major currency moves to speak of. Thankfully. Volatility has picked up and US dollar weakness has been a major theme. With gold rising to 1050/oz, the doomsday crew and conspiracy theorists are out in full force, suggesting that this could be the end for the US dollar.
It has become apparent to me that the Fed and Bernanke need to do something (raise rates even a token 25 bp) to defend the dollar, even at the risk of a housing price decline. While this move may not be popular here in the US, it would be welcomed by the rest of the world.
Because as of right now, it looks like the US dollar could get a whole lot worse. And my experience has taught me that its when things look the bleakest that we should be the most optimistic. So I’m hopeful that the Fed will move soon.
So USD is up marginally today, most probably due to short-covering or what looks like the infamous “dead-cat bounce”.
Also to not is that USD/JPY tested 88 in the over-night session. Many believe that the breach of that level would cause the Japanese to intervene.
Stay tuned– because it looks like the fun is just about to get started!
Wanna get started in currency trading? Take a lesson here.
Think you have what it takes already? Try a free, real-time demo account here.
Tags: account, Bernanke, course, currenc, currency, currency trading, demo, demo account, dollar, fed, free, fx, fxedu, gold, Il, intervene, IRA, Japan, jpy, lot, nfa, rate, short, ssi, time, USD
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Technically trade the best “fundamental” currencies. Which one’s on top?
By Sean Hyman | June 10, 2009
Australia…why? It has the highest interest rate of any major industrialized nation (3%…next highest, New Zealand @ 2.5%). It has the next to highest inflation rate which will help ensure high rates that go higher over time (2.5% year over year (New Zealand is on top, with 3%)). Australia really stands out on this next one…they are the ONLY major industrialized nation to have a positivie year over year GDP (0.8%). All others are negative right now. And they still have one of the lower unemployment rates out there (5.4%).So put all of this together and this gives the Aussie dollar the best overall fundamentals followed by the New Zealand dollar, next. Therefore, you may want to technically trade AUD/USD, AUD/JPY and secondarily NZD/USD and NZD/JPY as your “focus currencies” to trade…no matter what time frame you trade upon.(As an added note, the Aussie consumer sentiment jumped to a +12.7% vs. a -4.3% last time. This is one of the highest readings in a long time.)Also…China just had an acquisition deal go bad that would have netted them a ton of iron ore that they badly need for their expansion. Since that fell through, they will greatly step up their purchases from Australia, which again helps the Aussie dollar, especially vs. the U.S. dollar (buying AUD/USD, in other words).Get a FREE, REAL TIME demo account to trade, here: http://www.fxedu.com/practice-forex-account
Tags: account, AUD, Aussie, Australia, China, currencies, demo, demo account, dollar, forex, free, fundamental, fx, fxedu, Hyman, interest, interest rate, jpy, lower, new zealand, new zealand dollar, nzd, practice, real time, Sean, Sean Hyman, sentiment, ssi, technical, time, trade, U.S., unemployment, USD
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Massive sell signal on USD/CHF today!
By Sean Hyman | May 28, 2009
Want to go against the crowd? Traders are piling in long USD/CHF in a major way. The only problem? USD/CHF is in a downtrend. Therefore, these guys will either get stopped out (which causes selling pressure) or they will freak out and reverse their positions which also adds selling pressure. How do I know they are so “long” USD/CHF? Look at Dailyfx.com ’s SSI reading and you will see: http://www.dailyfx.com/docs_pdfs/research/FXCMSSSI05282009.pdfWant to take advantage of this? Then you can open up a demo account here: http://www.fxedu.com/practice-forex-accountOr a live account here: http://www.fxedu.com/live-forex-accountNeed to learn more about this market first? Go here (http://www.mywealth.com/currency-trading.php)to get started in an inexpensive online course that’s available 24 hours a day…no matter where in the world you’re at…you have live instructors there to answer your questions anytime 24 hours a day Sunday evening through Friday evening. Sean Hyman
www.forextradingblog.com
Tags: account, blog, CHF, course, currency, dailyfx, demo, demo account, dow, downtrend, forex, forextrading, fxcm, fxedu, instruct, instructor, live, market, mywealth, practice, Sean Hyman, ssi, time, trade, trader, USD
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Trading Concept: Inside Trading Days
By Sean Hyman | April 21, 2009
One concept that short term traders look for are “inside days”. What is this? It’s where a completed candle’s high/low of the day is within the range of the previous day’s high/low. See the chart below and I think you will see what I mean. Notice that the current closed candle is within the boundaries of the previous day’s high/low (blue lines).
When there are one or two “inside days” from a previous candle, it means that the volatility is compressing (or coiling up). When this happens, there is a huge chance of a sizable breakout to one side or the other.
The strategy is to put an order on either side of the breakout with a reasonable limit (15-20 pips). When one of the order triggers, cancel the order that would be in the opposite direction to ensure that it doesn’t get hit too.
Yesterday, I noticed that there were two “inside days” on the daily charts. Remember, you have to wait until the candle closes at 5pm EST before you can say it’s closed. EUR/CHF and AUD/NZD were the two pairs. Since AUD/NZD has a much smaller spread to overcome, I’d favor the EUR/CHF pair.
Place an entry order on either side of the pairs previous day high/low by 1 to 2 pips. Also, include a limit order at that time too and a stop. The limit would need to be 10-20 pips (something near term). That way, any real spike could trigger your limit. You’d want a wider stop (you decide…but something wide enough to handle the volatility…maybe 50-60 pips). The thought being that there should be much more of a likelihood of the limit hitting than the stop, therefore making the wider stop worth its distance.
Keep in mind to practice these on a demo account first.
Sean Hyman
www.forextradingblog.com
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Here’s why the Canadian dollar may sink further, pushing USD/CAD through 1.30!
By Sean Hyman | March 12, 2009
Have you ever seen someone make a mistake and not only do they suffer for it but someone else does as a result also? Well, this is exactly what’s happening to
You see, most of last year, you could say that the Canadian dollar was falling because of falling commodity prices. Since
USD/CAD Pushes Towards 1.30 Once Again!
Last Year the Commodities Crash Killed the Canadian dollar. This Year it’s the
So that was what hurt them much of last year. Now we roll into 2009, and they get killed by another dynamic: the increasing slowdown of the
For three months in a row now, the
On top of this, to buffer the blow of the slowdown,
While this is a dynamic that will eventually be good for their economy, it hurts their currency right now for sure.
They also stated that they may implore “Quantitative Easing”. What the heck is that? Well, in simple terms it means that they will print money out of thin air and load up the banks with so much excess cash that they are more likely to lend money and thus spur economic growth.
While that may eventually give their economy a boost, it kills their currency. Why? Look at it this way. Anytime something becomes more abundant, it becomes worth less. Anytime something becomes scarce, it becomes more valuable. (This is why a Corvette in the 1960’s may have gone for $3,000 then and would sell for $30,000 to $60,000 today. These days, they are scarce…yet they weren’t back then).
So when the market is flooded with more money (Canadian dollars), that money gets devalued and is worth less. Therefore it takes more (Canadian) dollars to buy the same amount of goods.
The
Now, you may say but isn’t the
I would say, while I won’t deny that point, the U.S. dollar presently benefits from what is called the “safe haven bid”. What does that mean? It means that investors all over the globe are running to the safety of the U.S. dollar because it’s the world’s reserve currency right now.
In other words, if there’s one currency on the face of the earth that you are most likely to keep and continue to use, it’s the one that most of the goods are priced in all over the world. For example, gold, oil, wheat, soybeans, lumber, etc. are all priced in U.S. dollars.
Therefore in crazy times like this, it enjoys the benefit of being the world’s reserve currency. However, once the global economy finally does return to normal, then this “benefit” will suddenly go away and the dollar will just have to stand on its own fundamentals once again. We all know that once that happens, the buck doesn’t have that much to stand on. Therefore, the “dollar party” may come to an end ONCE the global economy normalizes.
In the mean time,
This really is huge, because the
So when you add all of this up, you come up with the fact that the U.S. dollar has a high probability of continuing to rise against the Canadian dollar. So with that said, I think you may find the USD/CAD rate to break the 1.30 barrier in the coming weeks to months.
Therefore, if you would like to take advantage of this situation and profit from the pressure on the Canadian dollar, then take these three steps:
- Get Educated about Currencies and What Makes them go up and down: You can get your online education here that comes with LIVE instructors that are there to answer your personalized questions AND comes with a money back guarantee if you are not satisfied.
- Get a FREE demo account here that comes with REAL TIME quotes and charts. This way you can learn how to place trades before risking one cent of your money in the currency market.
- Then once you’ve gotten educated over the course of 8-10 days in your course and you are familiar with your demo trading station, then open up your live trading account here. If you start with a micro account, then I would suggest putting in $300 to $2,000 in the account. Start small. If you choose to start with a mini account, then you might fund your live account with $2,000 to $10,000. Start with enough capital to be practical while trading only 1-2 lots per trade at first.
Bonus: See where to invest NOW, even in these tough economic times by clicking here.
Sean Hyman
Tags: 2009, CAD, canada, central bank, commodities, currencies, currency, demo account, dollar, forex, fx, fxedu, interest rates, invest, investor, live, loonie, market, money, mywealth, pair, Sean Hyman, spot, trade, trader, U.S., USD, wealth
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