Smart and easy steps of debt free life

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Being in debts is not a crime. This is what all consumers should keep in mind before they start taking loans and credits.
But the fact remains that most debtors take loans often going beyond their affordability and fail to make the payments.
What is required is a little awareness on debt related issues along with a planned budget that will help you to resolve your debt problems.
Here are some useful tips to guide you when you are in debts.
5 sure fire tips to resolve your debts problem
Try out various options to repay debts
Accept the fact that you are in debt and you have to pay off your loans. Do not file for bankruptcy without trying out the other options to get rid off your debts.
It is always better to pay off the debt rather than declare a bankruptcy, which will have a negative impact on your credit profile.
So coordinate with your creditors, discuss your situation with them and initiate the negotiation. Some of your creditors may not be cooperative at all.
But then negotiate with those who are willing to cooperate with you.
Professional debt help from credit counselors or online debt consolidation can make it easier to deal with debts.
Do not acquire any more credit
It is a general conception that one can repay previous debts by taking credit from some other creditor.
This may help in some cases but if your income level does not support it then you better not go for this option.
This is because you have already piled up a lot of debts and it may become difficult for to you to deal with so many loans at the same time.
You may also think of converting unsecured debts into secured debt but you may lose your home or car in case you fail to pay off the secured debt.
Moreover, you may not be able to find a suitable debt settlement program, as these programs do not support consolidation of secured debts.
Assign a priority to your debts
Prioritize your debts and try to pay off those accounts first which may lead you to trouble in the near future.
For instance, if you have not paid the power bills, then pay them off first; otherwise, it may lead to termination of the power supply.
Also, go for a tight budget and restrict your expenses to those items which are absolutely necessary.
Look for ways to add on to your income
Look out for a part time job so that you can supplement your primary income with some extra dollars.
This will add on to your budget and help you to repay the debts.
Along with this, also ensure that you are utilizing all the benefits that you are allowed to get.
You may contact the independent Welfare Rights Agency to know about the benefits that you can possibly avail.
For instance, if your income level is low, then you may get a discount on your rental expenses or on the council tax payments.
Also, go for an insurance policy that can help you with payments if you come across an accident.
Seek debt consolidation services
Analyze your situation and then opt for a suitable debt consolidation company.
Know how much their services can help you to recover from bad credit.
Carefully go through the terms and conditions of the company and try to find out if there are any hidden costs involved.
Provide the counselor of the company with all the relevant details of your credit history and financial situation.
This will help him to have a clear idea of how much you can pay towards the repayment of your debts and then he can come up with a suitable repayment plan so that you can get rid off debts within a shorter period of time. But the plan will only work out if you follow it strictly.
For this, you may have to spend as little as possible; but this is nothing against a debt free lifeKnow-how of some useful tips can relieve you from your debt problems as these provide solutions as to how you can manage to pay off debt.
These simple and easy steps will help you to get over your debt problems.
Online debt consolidation could really be a good option.

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Reading a Chart and Acting Effectively

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Technical analysis is a guide that tells you, in simple understandable language, how to choose the right charts, reading these charts correctly, and act effectively in the market from what you see on these charts.
Probably most of you have taken a course or studied the use of charts in the past.
This should add to your knowledge about choosing the right carts and reading these charts correctly.
There are several good charting packages available free.
I use and what I recommend you "Netdania".
Using Charts Effectively
The default number of periods on these charts is 300.
Here are a few good starting points if you are new to charting and technical analysis: Hourly chart that's about 12 days of data, 15 minute chart its 3 days of data, 5-minute chart it's slightly more than 24 hours of data.
You can create multiple "tabs" or "layouts" so that it's easy to quickly switch between charts or sets of charts.
What to Look at First
Firstly, glance at hourly chart to see the big picture.
Note significant support and resistance levels within 2of today's opening rate.
Secondly, study the 15 minute chart in great detail noting the following
* Prevailing trend
*Current price in relation to the 60 period simple moving average.
*High and low since GMT 00:00
*Tops and bottoms during full 3 day time period
How to Use The Information Gathered So Far
Determine The Big Picture (for intraday trading)
Glancing at the hourly chart will give you the big picture - up or down.
If it's not clear immediately then you're in a trading range.
Lets assume the trend is down.
Determine If The 15 Minute Chart Confirms The Downtrend Indicated by Big Picture
Current price on 15-minute chart should be below 60 period moving average and the moving average line should be sloping down.
If this is so then you have established the direction of the prevailing trend to be down.
There are always two trends - a prevailing (major) trend and a minor trend.
The minor trend is a reversal of the main trend, which lasts for a short period of time.
Minor trends are clearly spotted on 5-minute charts.
Determine The Current Trend (major or minor) From The 5 Minute Chart
Current price on 5-minute chart is below 60 period moving average and the moving average line is sloping downward - major trend. Current price on 5-minute chart is above 60 period moving average and the moving average line is sloping upward - minor trend.
At this point you know the following:Direction of the prevailing trend.
Whether we are currently trading in the direction of the prevailing (major) trend or experiencing a minor trend (reaction to major trend).
Possible Trade Scenarios
*Lets assume prevailing (major) trend is down and we are in a minor up-trend. Strategy would be to sell when the current price on 5-minute chart falls below the 60 period moving average and the 60 period moving average line is sloping downward. Why? Because the prevailing trend is reasserting itself and the next move is likely to be down.
Is there more we can do? Yes.
Look for further confirmation.
For example, if the minor trend had stalled for a while and the lows of the past half hour or hour are very close to the 5 minute moving average then selling just below the lows of the past half hour is a better place to enter the market then just below the moving average line.

*Lets assume prevailing (major) trend is down and 5-minute chart confirms downtrend. Strategy would be to wait for a minor (up trend) trend to appear and reverse before entering the market.
The reason for this is that the move is too "mature" at this point and a correction is likely. Since you trade with tight stops you will be stopped out on a reaction.
Exception: If market trades through today's low and/ or low of past three days (these levels will be apparent on the 15 minute chart) further quick downward price action is likely and a short position would be correct.
* A better strategy assuming prevailing trend down, 5-minute chart down, and just above days lows is to BUY with a tight stop below the day's low.
Your risk is limited and defined and the technical condition (overdone?) is in your favor. Confirmation would be if today's low was a bit higher than yesterday's low and the price action indicated a very short-term trading range (1 minute chart) just above today's low.
The thinking here is that buyers are not waiting for a break of today's or yesterday's low to buy cheaper; they are concerned they may not see the level.

* Generally speaking, the safest place to buy is after a sustained significant decline when the bottoms are getting higher.
Preferably these bottoms will be hours apart.
By the third or forth higher bottom it is clear a bottom is in place and an up-move is coming.
As in the example above your risk is limited and defined - a low lower than the last low.
* The reverse is true in major up-trends.
Other Chart Ideas

There are always two trends to consider - a major trend and a minor trend.
The minor trend is a reversal of the major trend, which generally lasts for a short period of time.
Buying above old tops and selling below old bottoms can be excellent entry levels; assuming the move is not overly mature and a nearby reaction unlikely.
When a strong up move is occurring the market should make both higher tops and higher bottoms.
The reverse is true for down moves- lower bottoms and lower tops.
Reactions (minor reversals) are smaller when a strong move is occurring.
As the reactions begin to increase that is a clear warning signal that the move is losing momentum.
When the last reaction exceeds the prior reaction you can assume the trend has changed, at least temporarily.
Higher bottoms always indicate strength, and an up move usually starts from the third or fourth higher bottom.
Reverse this rule in a rising market; lower tops...
You will always make the most money by following the major trend although to say you will never trade against the trend means that you will miss a lot of opportunities to make big profits. The rule is: When you are trading against the trend wait until you have a definite indication of a selling or buying point near the top or bottom, where you can place a close stop loss order (risk small amount of capital).
The profit target can be a short-term gain to nearby resistance or more.
Consider the normal or average daily range, average price change from open to high and average price change from open to low, in determining your intra-day price targets.
Do not overlook the fact that it requires time for a market to get ready at the bottom before it advances and for selling pressure to work it's way through at top before a decline.
Smaller loses and sideways trading are a sign the trend may be waning in a downtrend. Smaller gains and sideways trading in an up trend.
Fourth time at bottom or top is crucial; next phase of move will soon become clear... Be ready.
Oftentimes, when an important support or resistance level is broken a quick move occurs followed by a reaction back to or slightly above support or below resistance.
This is a great opportunity to play the break on the "rebound".
Your stop can be super tight. For example, EURUSD important resistance 1.0840 is broken and a quick move to 1.0860, followed by a decline to 1.0835. Buy with a 1.0820 stop.
The move back down is natural and takes nothing away from the importance of the breakout.

However, EURUSD should not decline significantly below the breakout (breakout 1.0840; EURUSD should not go below 1.0825.

After a prolonged up move when a top has been made there is usually a trading range, followed by a sharp decline.
After that, a secondary reaction back near the old highs often occurs.
This is because the market gets ahead of itself and a short squeeze occurs.
Selling near the old top with a stop above the old top is the safest place to sell.
The third lower top is also a great place to sell.
The same is true in reverse for down moves.
Be careful not to buy near top or sell near bottom within trading ranges.
Wait for breakaway (huge profit potential) or play the range.
Whether the market is very active or in a trading range, all indications are more accurate and trustworthier when the market is actively trading.

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10 Tips for your success in Forex trading

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1. Implement a trading plan.
“If you fail to plan, you plan to fail”.
A trading plan is especially crucial in Forex trading to stay ‘in-control’ against the emotional stress in speculative situation.
Often, your emotions will blind and lead you to the negative sides: greed causes you to over-ride on a win while fear causes you to cut short in your profits.
Hence, a well organized operation has to be predetermined and strictly followed.
2. Trade within your means
If you cannot afford to lose, you cannot afford to win.
Losing is a not a must but it is the natural in any trading market.
Trading should be always done using excess money in your savings.
Before you start to trade in Forex, we suggest you to put aside some of your income to set up your own investment funds and trade only using that funds.
3. Avoid emotion trading
If you do not have a trading plan, make one. If you have a trading plan, follows it strictly! Never ever attempt to hold your weakened position and hope the market will turn back in your favor direction.
You might end up losing all your capital if you keep holding.
Move on, stay within your trading plan, and admit your mistakes if things do not turn as you want.
4. Ride on a win and cut your losses
Forex trader should always ride till the market turns around whenever a profit is show; while during losing, never hesitate to admit your mistakes and exit the market.
It is human nature to stay long on loses and satisfy with small profits – this is why as we mentioned earlier that a strictly followed trading plan is a must-have.
5. Love the trends
Trends are your friends.
Although currency values fluctuate but from the big picture it normally goes in a steady direction.
If you are not sure on certain moves, the long term trend is always your primary reference.
In long run, trading with the trends improves your odds in the Forex market.
6. Stop looking for leading indicators
There aren't any in the Forex market.
While some firms make a lot of money selling software that predicts the future, the reality is that if those products really worked, they wouldn't be giving the secret away.
7. Avoid trading in a thin market
Trade on popular currency pairs and avoid thin market.
The lack of public participation will cause difficulties in liquidate your positions. If you are beginners, we suggest the big five: USD/EUR, USD/JPY, USD/GBD, USD/CHF, and EUR/JPY.
8. Avoid trading in too many markets
Do not confuse yourself by overtrading in too many markets especially if you are a beginner.
Go for the major currency pairs and drill down your studies in it.
9. Implement a proper trading system
There is hundreds of trading systems available on line.
Pick one that you are most comfortable with and stick with it.
Stay organized in your trades and fully utilized stop-loss or limit functions in your trades.
10. Keep learning
The best investment is always the investment on your brain.
Without a doubt, Forex trading needs much more than just a few guidelines or tips to be successful.
Experience, knowledge, capital, fortitude, and even some help of luck are all crucial in one’s success in the FX market. if you lose in a trade, do not lose the experience in it.
Learn from your mistakes and regain your position in the next trade.

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How does a faulty Forex dealer cheat your money?

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Forex market is a non-centralized market.
There is no common market place for Forex traders and there is no so-call ‘standard’ in foreign currency exchange price.
Different Forex dealers offer very different deals to their customers.
As an individual FX trader, you depends solely on the dealer to make a transaction in your trades, thus picking up the right dealer is extremely crucial in your risk.
You may wonder how does a faulty dealer can cheat on your money as all investment call have to go thru your decisions.
Well, here's a typical example:
Often a bad dealer is not totally scams.
They are smart persons that trick money from traders that are not well-aware. These dealers, often known as retail market makers, will often encourage their clients to trade on margin and set stop loss orders, which allow the market makers to close out trades almost at will during busy markets at prices they have set. If the market maker does not offset the trader's position, the loss generated when a stop loss is triggered becomes the market maker's gain.
Trade prices are easily skewed one way or the other depending on the retail trader's position, which is known by the market maker.
Traders can be encouraged to take risky positions just before major economic announcements.
If all else fails, the market maker can quote extreme prices (known as spiking) to trigger stop loss orders while the client is at work or asleep.
The vast majority of retail FX traders are not profitable.
For those losing retail speculators, much of the funds they had on deposit will be, in some form or another, transferred to the market maker.

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Understanding the risks in Forex trading

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Forex:
To trade, or not to trade? Many are reluctant to involve in Forex trading because of its ‘risks’. Generally speaking, there are risks everywhere in our life: Factories may malfunction, customer may not walk-in if you open a shop, stock market may crush, and if you are employed you may get fired during company downsizing.
There are risks everywhere! The important issue here is how you learn and maintain your risk. So if you are considering participating in Forex market, you should learn managing the risk involved, instead of being terrified.
Picking up the right Forex dealer
One of the best methods to avoid unnecessary risks is avoid fraud dealer.
Forex is a special trading business with no centralized market.
Thus, unlike regulated futures exchanges, there is no central market place for Forex buyers or sellers therefore the price offered by different Forex dealers may vary a lot.
When you are trading in Forex market, you are totally relying on the dealer’s integrity for a fair deal.
Further more, you need to select a right Forex dealer to avoid scams.
may be Forex dealers that are not regulated legally and there maybe investment scams, especially on the Internet.
very careful on who you are dealing with in Forex and always check cautiously on the investment offer.
Stop loss order
The Forex market could move against you.
No one can predict with certainty which way exchange rates will go, and the Forex market is volatile.
Fluctuations in the foreign exchange rate between the time you place the trade and the time you attempt to liquidate it will affect the price of your Forex contract and the potential profit and losses relating to it.
To avoid losing all of your investment capital, you should have a pre-arrangement on your risk profile.
A solid risk profile will limit the Forex dealer not to overtake risk that you cannot handle.
For example, if you have 100,000 to invest, you can say that you are willing to risk 10,000 of that capital with the potential to gain another 100,000.
This can be easily implemented by a fund manager, so your losses can be limited to 10% or 5% of invested capital.
Avoid too high margin trade
Another way to manage your risks well in Forex market is to trade without overleveraged.
Forex dealers want you to trade with high leverage values as this means more spread income for them.
Also, trading in high leverage may increase your profit or your losing. There are high possibilities that one lose money more than he or she can afford in margin trading.
Forex can be extraordinarily beneficial to a variety of people.
It gives huge leverage rates, it gives incompatible liquidity to your money, it gives convenience to trade on the Internet, and it can definitely give you a lot of money if you trade smartly.
Like any other trading business, if you are new to it, best advice you can get is to learn and practice more before you test your ‘wings’. Seminars, eBooks, Internet, papers, video courses – all these are handy to get yourself ready.
You can also try out your skill on the demo account provided free. After all, Forex trades 24hours a day and there is always money to make in the market, so why not be patience until you are fully ready for it? Another way to manage your risks well in Forex market is to trade without overleveraged.
Forex dealers want you to trade with high leverage values as this means more spread income for them.
Also, trading in high leverage may increase your profit or your losing. There are high possibilities that one lose money more than he or she can afford in margin trading.
Forex can be extraordinarily beneficial to a variety of people.
It gives huge leverage rates, it gives incompatible liquidity to your money, it gives convenience to trade on the Internet, and it can definitely give you a lot of money if you trade smartly. Like any other trading business, if you are new to it, best advice you can get is to learn and practice more before you test your ‘wings’.
Seminars, eBooks, Internet, papers, video courses – all these are handy to get yourself ready.
You can also try out your skill on the demo account provided free. After all, Forex trades 24hours a day and there is always money to make in the market, so why not be patience until you are fully ready for it?

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Forex Trading is booming!

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Currency Trading has experienced phenomenal growth in recent years as many investors are looking for ways to profit from the lucrative 1.5 trillion currency trading marketplace.
And author/professional trader Peter Bain is the ideal authority to help you understand and profit from this complex marketplace.
His Forex Course teaches the same system used by banks, financial institutions and professional Forex traders alike to trade currencies on the foreign exchange. For the first time, Peter's making his "Commercial Forex Trading" system available to the public in the form of a video currency trading course.
Peter Bain’s video course is a complete trading solution.
Let Peter will show you the trading techniques used by the commercial institutions and banks.
To involve in FOREX trading, you must similarly prime your mind to get ideas flowing. The various ideas in your mind are stored in a hierarchical structure.
Information is stored together in a group, depending on its meaning.
It's hard to bring information about that topic into consciousness when you aren't thinking of a particular topic; it depends on their stagnant and hidden.
When you put effort to think carefully about a specific topic, or a closely related topic, and start running througha bunch of possibilities, all kinds of new possibilities become transparent. Various concepts andideas, almost unconsciously are scan through your mind.
This wealth of information combines will create a new. For example, suppose you get an indefinite trading idea about how a set of indicatorsmay forecast the price of a particular stock. Once you get the basic idea in your mind, you can prime your mind to get the creative juices flowing.
For instant, scan a set of charts to back test and find support for your hypothesis.
Once you look through the charts, you will prompt to other related information after seeing at the information. Yet the idea soon will leak out, and you'll make a new discovery as this is a basis for a new trading strategy.
The main point is that you must set your thinking processes to create a new idea.
When you put on a trade, you have the attention to starts on focus, your senses are heightened, and your perspective will change until you see new ideas.
The more ideas you will create new discoveries when the more your mind is active.
It is helpful when knowing about the creative process and how to set it in motion gives you power.
Unable to think creatively is the reason brings some people down.
Actually they can, they just need to know how to do it.
To think creatively, it's vital to be relaxed and free of anxiety.
It is also essential to prime your mind in order to start the process.
When it’s the time to think of a new trading idea, think creatively.
Processing the creative in motion may help you come up with a big idea that will make you huge profits.
As a FOREX trader, you must be able to calculate risk and taking losses, if can’t accept, better don’t trade. Risk means reward, you do like to accept volatility and risk cheerfully.
Drawdowns are a part of trading; FOREX trading fun and highly profitable because of the volatile markets. As you become the well-informed FOREX trader, a drawdown is not something to fear, but something to enjoy.
Volatility makes a big opportunity!

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Training your Currency Trading skill for better exposure

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What is your confident level in forex trading?
Have you weaponed yourself before register into the market? Here is a trading tips that you can follow.
When you see the EUR/USD market trend move to a dip bottoms, check the trend history, place the order with stop & limit as ratio 1:4. If its losing, add a position to average the signals.
This will be a good chance for you to maximize for your potential profit.
However, What we want you to"consider" is the trading technique.
Do you notice that there's something goes wrong with the tips above? Look again, what will be the correct way.
If you were fooled by our trick and did not notice the wrong strategy, you are not weaponed yourself and you need this training.
Even if you noted the problem, you must have some reason for having this book in your hands. Perhaps you have had evidence in the past that you do not trade well.
It may be that your brokers have told you that your strategy does not help you make profit.

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Choosing your Forex broker

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Today's Forex trading is well known as a lucrative way to make money online. It became an essential part for investor's portfolio as you can simply gain thousands in minutes by trading currencies at home.
For those who are new to the trade, Forex means Foreign Exchange Market where it involves buying and selling the different currencies of the world.
Profits are made through the difference of selling and buying price - you earn when you buy-low sell-high while lose when buy-high sell-low.
Choosing a suitable Forex broker is the very first step when you are getting started in Forex trading.
As in any trading market, individual trades in Forex market are mostly done via currency brokers.
There are certain issues you must consider when choosing for suitable Forex broker, listed below are a few of the important ones.
----------------------------------------------------
1. Certification of the Forex brokerage firm
Forex trading involves a huge sum of money.
As a trader, I am sure you want your money handle by reliable broker.
This is why certification of the Forex brokerage firm is important. Traders are recommended to deal only with authorized currency traders. If you are trading in United States, make sure your Forex brokerage firm is registered with Futures Commission Merchant (FCM) and regulated by the Commodity Futures Trading Commission (CFTC).
Also, most large brokerage firms are connected in some way to a bank or financial institution. Since the majority of Forex business is based on credit, the partnership with financial institution is crucial to offers their clients better in Forex investment.
2. Low spread trading
Currencies are normally traded in pairs of ask-bid price.
The difference of the selling (bid) and the buying (ask) is known as spread.
For example of EUR/USD 1.2435/1.2440, the Forex quote here means you can buy 1 Euro Dollar with 1.2440 USD or sell 1 Euro 1.2435, and the spread is (1.2440 - 1.2435) = 0.0005. As Forex brokers do not charge commissions on their client trades, they are making money off the spreads.
If the spreads are low, this means they are offering a cheaper service and thus traders have better profit value. Thus, Forex brokerage that offers lower spread is more preferred.
3. Trading tools and tips
Different Forex brokers will offer different trading tips and tools.
When selecting Forex broker, check what kind of trading tools and analysis data they are offering.
Not all brokers offer the same set of tools and data thus careful consideration is necessary.
A good Forex brokerage firm should offers real-time charts, technical analysis tools, real-time trade alerts, and website support.
If you are new to Forex trading, you also look for broker that offers demo account before opening up a real account.
4. Avoid brokers with strict margin rules
Strict Margin Rules - When you are trading with borrowed money, your broker has a say in how much risk you take.
As such, your broker can buy or sell at its discretion, which can be a bad thing for you. Let's say you have a margin account, and your position takes a dive before rebounding to all-time highs. Even if you have enough cash to cover, some brokers will liquidate your position on a margin call at that low.
This action on their part can cost you very much.
Unfortunately, you cannot verify this factor before starting up your account with the broker. The best way to avoid this kind of brokers is to ask more in Forex trading forums or other experienced Forex traders.
5. Leverage level
Some brokers offer 1:50 trade margins and some offer 1:200.
The fact is leverage level might varies a lot for different brokerage firm.
While higher trade margin does not guarantee your profit in Forex market, higher trade margin however will give you a better chance to win big when the opportunity comes.
High leverage level is especially important when you have little capital outlay.

By filtering Forex brokers with the condition listed above, you actually raise your profit chances in Forex trading.

Without a doubt, Forex is gaining its popularity fast against other kind of trading.

No limited market access, no liquidity issues-after market hours, zero commission fees, low capital requirements with high leverage rates, and no restrictions on short selling -- Forex can be very beneficial to a variety of people.

Like any other trading business, if you are new to it, best advice you can get is to learn and practice more before you test your 'wings'.
Seminars, eBooks, Internet, papers, video courses - all these are helpful to raise your confidence level before you trade with your real hard-earn dollars.

Plan your investment wisely by investing first on yourself:

you shall get your reward at the end of the road.

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What beginners need to know about Forex trading?

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Being new to FOREX trading? Don’t worry, getting started in FOREX trading is easy and you can always test your skills first in a demo account before you go ‘live’ with real money.
To get started in FOREX trading, we have to get to know what FOREX is.

FOREX trading involves buying and selling the different currencies of the world.

Buying one currency and selling another at the same time make a FOREX deal.
FOREX market is the largest trading market in the world.

It yields an average turnover of $1.9 trillion daily and the figure is nearly 30 times larger than the total volume of equity trades in United States.

Starting in FOREX trading
To start trading on FOREX, one must first learn how to read FOREX quotes. Foreign exchange quotes are always listed in pairs (e.g. USD/JPY 109.2): the first listed currency is known as the base currency with a constant value of 1 unit; while the currency listed in the second is known as counter. In our given example, USD/JPY 109.2 means a dollar of United States Dollar is equal to 109.2 Japanese Yen. In other words, the quote shows the relative value of one currency compare to the other.
It means the value USD had been increased when USD/JPY quote goes up
However, a two-sided quote (e.g. EUR/USD 1.2435/1.2440) consisting of a 'bid' and ‘ask’ is often seen. The ‘bid’ price is the price at which you can sell the base currency; while the ‘ask’ price is where you can buy the base currency. The different of ‘bid & ask’ price is commonly known as ‘spread’.
In the example of EUR/USD 1.2435/1.2440, this means you can buy 1 Euro Dollar with 1.2440 USD or sell 1 Euro 1.2435. Currency brokers make their profit through these differences of ‘bid & ask’ price and this is how they manage to provide their services to individual investors without charging them commission fees.
If you are new to trading it makes sense to deal in the more popular currencies. There are two main reasons for this. Firstly you do not want to be left with a currency where there is little interest and you may have difficulty selling. Secondly the spread between the bid/ask prices is likely to be narrower, making it easier to make a profit.
Major currency traded in FOREX market
There are seven major currencies, the US dollar (USD)
, Euro (EUR), Japanese yen (JPY) British pound (GBP), Swiss Franc (CHF) Canadian dollar (CAD) and Australian dollar (AUD). The US dollar is the most traded currency followed by the Euro and the Yen.
The Euro is the relatively new currency of the European Union although some member states, including the UK, have not changed their currency.
Also, if you live in a country using one of the major currencies, when you first start trading it makes sense to begin with that currency.
Not only are you familiar and comfortable with the currency, but you are in a better position to judge its strength.
The internet has a wealth of information on the financial climate of a country, but if you live there you have access to all newspaper content, as well being in the unique position of experiencing first hand changes at the consumer level.
Major players in FOREX market
Although FOREX trading involves such a big volume of trades nowadays, it is not made available for the publics until year 1998.
In the past, the FOREX market was not offered to small speculators or individual traders due to the large minimum business sizes and extremely strict financial requirements.
At that time, only banks, big multi-national cooperation and major currency dealers were able to take advantage of the currency exchange market's extraordinary liquidity and strong trending nature of world's main currency exchange rates.

In late 90s, FOREX brokers are allowed to break huge sized inter-bank units into smaller units and offer these units to individual traders like you and me. As a fact in FOREX trading, FOREX is mainly traded in large international bank.
According to Wall Street Journal Europe, 73% of the trade volume is covered by the major ten. Deutsche Bank, topping the table, had covered 17% of the total currency trades; followed by UBS in the second and Citi Group in third; taking 12.5% and 7.5% of the market.
Other large financial cooperation in the list is HSBC, Barclays, Merril Lynch, J. P. Morgan Chase, Coldman Sachs, ABN Amro, and Morgan Stanley.
Why should I do FOREX business?
Main Question raised in your mind might be:
Why should you trade FOREX? There are lots of reasons why you should involve in FOREX trading.
FOREX market is truly a global market where it opens 24 hours a day through out the whole week (weekends excluded).
With the ease of Internet access, transaction in FOREX can be done in anytime regardless on your location.
This gives you the convenience to work on any time, anywhere – which in turns gives you the freedom you cannot have in investing other kind of trading.
More over, trading in FOREX gives you an equal prospective in rising and falling market.
As trades are always done in pair of currency pairs, FOREX traders can always find chance to make money in anytime, regardless on the fall or rise period of one single country currency. Also, FOREX trading offers incredibly high leverage rates to the traders.
By trading currency in margin up to 200 to 1, you can start off your FOREX trade with minimum capital and huge ROI.

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Forex VS Stocks Market

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Foreign currency exchange (Forex) market and stocks market work quite differently.

Neither Forex market or stock market is greater than each other but the investing concept in them differs quite a lot.
However, by comparing their differences, we wish to give you a clearer picture on these two markets thus help you to select the market type that suits you the best.
Fact is you might want to get involved in both market to diversify your on hand capital.
Average investment duration
Most investors in Forex market aim for a short-term deal. Individual Forex traders are normally trading Forex in a day-trade basis.
Forex day-traders normally take small daily profits (averaging 10~30 pips), entering and exiting the market in the same day.
Professional Forex traders normally will implement their own trading system in order to partially automate their day-trade process.
While day-traders do exist in stock market, majority of the stock traders are more interested in doing long-term trade nevertheless. Trades in stock exchange might last for months or years where traders will get the profit in one lump sum.
Market trend factors
Due to various limitations in stock markets (for example, restrictions on short selling), stock market trading depends a lot on the market trends.
There are few stock traders who manage to gain in down trend market.
On the other hand, Forex market offers equal earning potential regardless on the rise or fall of a country currency.
There is no structural bias to the market and there are no restrictions on short selling in FX market.
Trades in Forex are always done in pairs; rise or fall of a country currency will only affect its relative value compare to other currency and will not affect the chances of profit in the trades.
Leveraging your money
Forex brokers offer trade margin of 50, 100, 150, or even 200 to 1 of trade margin. Forex traders often find themselves controlling a huge sum of money with little cash outlay on the table. For example, a $1,000 in a 150:1 Forex account will gives you the purchase power of $150,000 in the currency market.
In contrasts, stockbrokers do not offer such kind of high leverage to their clients. The max you can get when trading in stocks might only be 2:1.
Trading on mini account in Forex
One of the advantages in Forex trading is that you can start small always.
With FOREX, you can invest in foreign currencies for as little as a $300 deposit with mini contracts. The smaller trade size enables you to take smaller risks and this is especially handful for beginners who wish to gain their trade experience in FX market.
However, this benefit is not available with stock trading. Most stock brokerages do not allow you to invest in odd lots, but only in blocks of 100 shares at a time.
With many stocks valued at between $20 and $500, which can mean an investment of $2,000 to $50,000 or more.
Fewer accounts to consider
There are thousands of stocks to choose from stocks exchange market but major traded currency in Forex is only seven.
You work less by analyzing fewer accounts in Forex trading.
Further more, countries are often more stable than companies and it's easier to predict their overall economic direction.
These characteristics of Forex market reduce the hassle of selecting and filtering potential accounts.
Decentralized market structure
Forex market and stocks exchange market structure differs a lot.
Stocks are traded in a centralized market.
Forex market is an over-the-counter market where there is no centralized market place for Forex trading.
Stock trading requires buyer and seller to ‘meet’ at a centralized market to do the exchange
(for example, NYSE).
Meaning that, all stock exchanges all trader’s orders are put through same dealer and pass through a single clearing firm.
Stock traders will u get same price on stock worldwide.
On the other hand, Forex trades can be done via different brokerage agents or dealers.
Each agents/ dealer has the ability and the authority to execute trades independently of each other.
This structure is inherently competitive as traders are faced with a choice between varieties of firms with an equal ability to execute their trades.
Currency dealers are in competition with each other, thus currency market price remain transparent and the spreads are kept tight all the time.
This will then give a better market for individual Forex traders to profit from.

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Forex Beginners

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It is believe that more than 50% of Forex traders are losing money long term in the foreign currency exchange market.
Yet, there are still a lot of Forex traders jump in to the market, trade blindly and lost their money.
Trade after trade, its surprising to see that 'normally-losing' traders keep betting (not investing!) their money into Forex market without reviewing their trading strategy.
No matter you are the experienced or the beginners, there are certain 'must-do' when trading Forex to manage the risk wisely and to increase your possibilities in making profits.
'Must-Do 1': Invest in your brain first
If you are serious about investing in Forex market, building up your trading skills and knowledge is the very first step that you must take.
Seminars, workshops, video tutorials, online learning, or even books are handful to help us learn from the professional.
Learn to implement technical charting into your trades; learn using indicators to determine the right time to enter/exit the market; brush up your experience by trading with a demo account… all these are effective to ensure your smooth starts and it will definitely reduce your chances of losing money.
'Must-Do 2': Getting the right trading system
It is wise to research very well and consider all the various brokers' system available to you before making your choice.
By applying certain level of computer automations (such like charting and doing auto trades), trading; a well-designed trading system will reduce your work dramatically. This in turns give you more time to focus on studying the market and plotting your strategy.
Also, using auto-trading system will avoid you from doing emotional-trades.
'Must-Do 3': Have a trading plan
As the old says: “Fail to plan is plan to fail”
. Trading is like sailing boat middle in the sea; you will not be going anywhere without compass and navigator.
What is the detail objective of the trades?
How much profit to expect from the trade?
When to get into the market?
How much to invest?
What price to exit the market?
If things do not work out, when do execute the stop loss order?
How high is the affordable risk?
A good trading plan should at least answers the above questions.
Further more, if your trading plan fails, review and modify your trading plan.
Find out your mistakes and learn from them.
'Must-Do 4': Money management
Money management is controlling your risk through the use of protective stops, while balancing your potential for profit against your potential for loss.
For example, good money management means you know your profit objective and the odds of being right or wrong, and controlling your risk with protective stops.
You are better off with a trade where you might lose $1000 if you are wrong and make $500 if you are right, that would work eight times out of ten, than to take a trade where you would make $1000 if you are right and lose only $500 if you are wrong, but works only one time out of three.
If you are investing using your savings, it's even more important that you manage your money in your trading and in your personal expenses. Chances are high that you miss a good investing chance because of you are lack of capital.
'Must-Do 5': Discipline trading
Trading Forex with discipline is important. Success in Forex trading could not be achieved by plotting out the best trading plan.
It is also depends on implementing the trading plan. Be discipline, trade according to your plan and never trade with your emotion no matter you are losing money or winning.
Greed will stop you from taking profit at predetermined level:
while fear will stop you from making the nice kill in the market.

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How currency exchange (FOREX) market works

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bet you are well aware of the existent of Forex trading nowadays.
Forex market exists wherever one currency is traded for another.
Forex, or Foreign Exchange Market, is generally works as an international currency exchange market.
Investors and speculators are allowed to trade currencies from all around the world thru Forex trading.
Forex is a very unique type of trading where traders are buying and selling 'money' in the same time. The trades are done in pairs, such as Euro/JPY, USD/CHF, and CAD/USD.
It is the world largest trading market where an average of $1.9 trillion trades is done on a daily basis.
The turnover rates in FOREX are nearly 30 times larger than the total volume of equity trades in United States.
Despite its large volume of trades done daily, Forex is relative new to the publics nonetheless. It is only made available to publics in year 1998 where big sized inter-bank units are sliced into smaller pieces and offered to individual traders like you and me. Before that, Forex is a game only for banks, multi national cooperation, and big currency dealers.
Only those with large business size and strong financial background were permitted to trade foreign currencies.
Facts about Forex market
As a matter of fact, large international banks are still the major traders in currency exchange market. Deutsche Bank is one of the top currency traders; along with other major banks like UBS, Citi Group, HSBC, Barclays, J. P. Morgan Chase, Coldman Sachs, ABN Amro, Morgan Stanley, and Merril Lynch; these banks are said to be responsible for more than 70% trades in currency market.
When you are trading Forex with currency dealer, the Forex quotes might look a bit different from our previous example. Often, a two-sided quote, consisting of 'bid' and 'ask' price, is listed when dealing with currency brokers.
For example, EUR/USD 1.2385/1.2390: 1.2385 is known as the 'bid' price while 1.2390 is commonly known as the 'ask' or 'buy' price.
The 'bid' is the price at which you can sell the base currency; while the 'ask' is the price at which you can buy the base currency.
As you study the numbers, you might realize that the two-sided currency price is quoted against you.
Traders are forced to buy the currency in a higher price than the selling one. This is done because FOREX trades are done without any commission chargers. Thru quoting currency 'bid & ask' price differently in this way, the currency brokers are manage to make profit without charging their client commission fees directly.

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Learn Forex Trading Online And Get Ahead Of The Game

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Today's business world is highly complex and it is vital to know your way around. As far as Forex trading in concerned this means knowing the players, the market and the stakes. You have to be familiar with such things as the value of the currency that you are trading, the factors which increase and decrease the value of your currency and trading strategies and market trends.
As a novice this also means that you have to begin with some type of Forex education. A Forex trading course will teach you all about predicting and charting movements of the market together with the best time to purchase or sell a commodity and will introduce you to basic terminology and the trading process.
As Forex trading is done in real time and decisions often must be made quickly, a trader should also be emotionally prepared to cope with the stress, challenges and demands of the marketplace and these too will be included in any good Forex trading course.
So precisely what should you look for when selecting a Forex training course?
All Forex training courses should include the basics on such things as types of orders, leverage and margins which are essential in Forex transactions.
It also needs to teach basic terminologies, analysis and software.
Analysis is fundamental to successful trading and any Forex course must look in reasonable detail at both technical and fundamental analysis including the tools used and the pros and cons of each.
However the basics and theories of foreign currency trading are not enough and good Forex course should also teach you correct money management and the development of a good trading psychology and disposition.
It is far too simple for traders to become too emotionally involved in trading and it is critical to success that traders understand the importance of such things as discipline, patience and commitment.
Possibly the most important part of the best Forex training courses however is the provision of an apprenticeship program allowing you to gain real-life experience.
There is no more effective way to discover how to trade foreign currencies than experience gained in actual trading.
Forex courses should therefore offer the opportunity for simulated trading that is as near as is possible to live trading.
It is also important that students are given the the opportunity to discuss their trading with their fellow students and to get one-to-one feedback as they practice trading.
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For those who want to discover the rules of the game and get a good grip on the market there are several websites offering courses and workshops on Forex trading.
Most of these sites offer courses on software and trading tools, trading strategies, networking, risk and money management, technical analysis, market trends and a great deal more.
Nowadays the Internet not only provides the perfect forum for learning Forex trading but also lets you trade from the comfort of your home and allows corporations and private individuals to play the game and conduct their business in this virtual world.
Online Forex trading has opened up the world of foreign currency trading and provides the opportunity for everyone to make considerable money today.
But, it is critically important to equip yourself with the knowledge you need before you dive in.

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The Importance Of Real Time Forex Charting

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Trading in the foreign exchange market today means having a sound understanding of technical analysis and in particular an ability to keep track of currency pairs by learning the skill of reading live or real time forex charts.

For the novice trader this also means finding a source of good online forex charts and, better still, free forex charts. Even better, if you can find yourself some free chart pattern recognition software for forex and learn how to use it you will be well on your way to trading with a fair degree of confidence.
Online forex charting conveys information about currency prices at specific time intervals ranging from as little as one minute up to several years and prices can be plotted either as simple line charts or as bar or candlestick charts showing price variations at specific time intervals.
Line charts are easy to read and give a broad overview of price movements which often allows you to clearly define patterns in price movements.

By contrast, bar charts are not quite as easy to read but do provide far more information.
In simple terms the length of each bar on a bar chart indicates the price spread for a given period and the longer the bar the larger the variation between high and low prices.

Opening and closing prices are shown on each bar so that you can see at a glance whether the price has risen or fallen and just what the variation in price has been.

Although bar charts can be difficult to read, most chart pattern recognition software packages simplify the process of reading bar charts considerably.
Invented by the Japanese to analyze rice contracts, candlestick charts are similar to bar charts but are far easier to read as they are color-coded. For example, green candlesticks are used to show rising prices while red candlesticks show falling prices.
The beauty of candlestick charts is that the candlestick shapes when viewed in relation to one another form patterns many of which have been given names such as ‘Morning Star’ and ‘Dark Cloud Cover’ and once you learn to recognize these patterns it is an easy matter to identify trends in the market.
Although a real time forex chart can give you a great deal of information about a particular currency pair this is often supplemented using a number of technical indicators including trend, strength, volatility and cycle indicators all of which are used to predict both movements in the market and market volume.
The most commonly used Forex technical indicators include:
Average Directional Movement (ADX). ADX can be used to ascertain whether a market is approaching an upward or downward trend and how strong that trend is likely to be.
Moving Average Convergence/Divergence (MACD). MACD indicates the momentum of a market and the relationship between two moving averages.
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Stochastic Oscillator.

The stochastic oscillator shows the strength or weakness of a market by comparing closing prices to a price range over a period of time.

A high stochastic will indicate that a currency is being overbought while a low stochastic will indicate that a currency is being oversold.
Relative Strength Indicator (RSI). RSI is a 100 point scale which shows the highest and lowest prices over a given time.

When prices move above 70 a currency is considered to be overbought and when prices move below 30 a currency is considered to be oversold.
Moving Average.

The moving average is simply the average price for a set time period when compared to other prices during similar time periods.

For example, the moving average of closing prices over a 14 day time period would be equal to the sum of the 14 closing prices divided by 14.
Bollinger Bands.

A Bollinger band consists of three lines - an upper and lower line indicating the range of price movement and a middle line showing the average price.

When the market is volatile the gap between the upper and lower bands will widen and when a bar or candlestick crosses one of the bands it will indicate a currency which is either being overbought or being oversold.

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How To Make Money In Foreign Exchange

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The foreign exchange, or forex, market is the world's largest trading market in which currencies can be bought and sold and, although it has been around for many years, the foreign exchange market which we see nowadays has been born out of significant changes which took place in the 1970s when floating currencies and free exchange rates came into play.
There is no particular 'home' for the foreign exchange market and trades can be conducted from anywhere in the world, including from your own personal home computer.

The trading market is also effectively open day and night because as trading is closing in one country trading in another country on the other side of the world is just opening.

In other words you can trade at whatever time suits you whether that is during the morning or in the middle of the night. You will find that there is always somebody somewhere who is willing to trade.
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The secret when it comes to making money in forex trading is to begin by learning the ropes of currency trading and this means finding a high quality training course.

It is not difficult to make money with foreign exchange, although you will surely lose your shirt if you do not know what you are doing.

Therefore, you need to take the time to learn the business before you begin and then need to make sure that you spend a little bit of time trading through a dummy trading account before you begin to trade with your own money.
Once you do start trading start slowly and steer clear of day trading until you have a bit of experience as this particular section of the trading market can be very volatile and is influenced by several external factors.

In addition, set yourself firm trading limits and do not go outside them. Essentially, do not trade with money which you cannot afford to lose as, whilst you will definitely make money, you will also have your fair share of losing trades while you are getting the hang of things.
And finally, ensure that you are using the best forex trading software you can afford and do not be afraid to ask for help when you find that your are stuck!

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Where do you start if you want to learn currency trading ?

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Well a good starting point is to look at just what Forex trading is and who the players in this market are. We should also think about just why you should be learning online Forex trading and thinking about starting you own online Forex trading business.

The Forex market (which is sometimes referred to as the FX market and for which the full title is The Foreign Exchange Market) was established as we know it today in 1971 following the demise of fixed currency exchanges.
Forex currency trading is conducted around the clock, 5 days a week, and daily currency trades are worth in the region of $1.9 trillion US dollars. This means that the Forex the largest market in the world and puts the major stock markets very firmly into second place.
A world-wide market established to facilitate the buying and selling of currency, the Forex market involves large organizations, such as central governments, commercial companies and international commercial banks as well as smaller players such as brokerage houses and individual brokers.
There is no set location for the market (although there are major trading centers around the world in a number of cities such as London, Frankfurt, New York and Tokyo) but it is essentially an 'over-the-counter' market with the vast majority of trading being conducted by telephone and on the internet.
The exchange of currencies is a central element in supporting global trade and, as the major currencies such as the US dollar (USD), the British pound (GBP), the Euro (EUR), the Japanes yen (JPY) and others move against each other and the foreign currency exchange rate for any given pair of currencies changes, there is the opportunity to make money from currency exchanges.
The major players in the market take advantage of this by buying and selling in deals which often run into many millions of dollars, but the smaller players are also extremely active and often trade in deals of as low as one hundred thousand dollars. And, by trading on the back on the smaller players, individuals can get into the market with a lot less than that!
The fact that even small players can join this market means that, as long as you are prepared to take the time to understand the currency markets and to learn the skills of Forex trading, then, with a little bit of capital to invest, it is possible to enjoy an excellent income from online currency trading.
Despite the fact that you cannot trade on your own and will have to use the services of a Forex broker, you certainly don't need a fortune and many Forex brokers will now allow you to open an online Forex mini account with as little as $250.
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The Forex market is a technical market and it does takes a while to come to grips with the basic principles underlying the currency markets, to develop the necessary skills in the use of some of the 'tools of the trade' (like technical and fundamental analysis tools) and to learn Forex currency trading online.
Despite this, you do not have to be an expert in the currency markets to profit from them. As long as you take the time to learn foreign exchange currency trading and put in a bit of effort it is quite easy to gain enough of an understanding to begin making money through Foreign trading online.
Foreign currency trading provides an excellent opportunity for the small investor to make money but learning to trade Forex is essential before heading out into the market.
Through a large and growing collection of articles covering everything from the history of foreign currency trading to fundamental and technical analysis, psychology and strategies, tools and software we aim to help you learn to day trade Forex quickly and easily.

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What?s the .382 Fibonacci Ratio in Forex Trading?

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It was mentioned in a past article that Fibonacci forex trading is the basis of many forex trading systems used around the world by profitable forex traders. These systems are all based on the famous Fibonacci ratios (.236, .50, .382, .618, etc.) and each of them can specialize in a particular ratio along with other minor indicators in order to make the pinpointing of the entry and exit levels as accurate and profitable as possible.
One of the widely used Fibonacci ratios is the 0.382 ratio. As it can be easily seen on any forex chart, currency prices are continually changing and they follow an oscillatory pattern with peaks and valleys. The limit of the peak is usually called a resistance level while the valley is usually called a support.
In order to find the 0.382 ratio level what you do is, first; measure the size of the drop or rise over your time of interest.
Once you have that value you multiply this by 0.382. Now depending on what you are looking at, a rise or a drop on the price of the particular 'currency pair' you are trading, you will add the last value you calculated to the total drop or subtract the value from the total rise.
These operations will give you the 0.382 Fibonacci ratio level, either for a rise or a drop on the chart you are analyzing. Once you have the value you can then start planning the strategy you will follow in order to make a high probability profit from this valuable information.
For the 0.382 ratio level calculated for a recent rise in the 'currency pair' exchange price, your calculated level will be a highly probable support and for the case of a level calculated for a recent drop of the prices your level will be a highly probable resistance.
Knowing this ahead of the market and having the proper secondary indicators, will give you a huge advantage over most forex traders, and that's something any trader would like they could count on.
That's why Fibonacci trading is so widely accepted over the world, and of course, why it's so profitable and successful.

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Interest rates and Forex market

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As I mentioned previously in cyberspace somewhere, I believe currency movements in the medium to long term to be largely dictated by what belief the market has on where interest rates will go.
Often, there is a clear disparity between what the market believes and what really happens, and I'm wondering if this is happening again.
The EUR rise in the last week (though still range trading) has the potential to explode out of it's summer range to the upside, and I believe that any such explosion that would occur in the next few weeks will be premature.
The belief, you see, is that the ECB is "talking tough" on inflation, and that rates are set to go up in December.
I think this is a mistake.
The ECB, Trichet in particular, always talks tough. They use the "Strong Vigilance" phrase when talking about inflation, even though inflation is actually within the ECB's tolerance levels (albeit on the high side of those levels).
The market frequently misreads the ECB president, as it had .
I think the EZ is set to slow, and that it's growth period - what I'd call a short spurt - is done with. It will begin to echo a slowing shown in the U.S., as there always seems to be a slight delay in what happens in the U.S. versus Europe. A higher Euro will offset prices, oil is coming down (though still high) and the recent tightening going on around the globe is beginning to take a bite.

I think the ECB will not hike in December, though they will continue to talk tough.
The market is in for a rude surprise, but this surprise - in my opinion - is not set to come for some time.
During that time, it's all Euro.A similar problem exists in Australia and New Zealand. The market is waiting for next week's hike by the RBA, and calling for next month's meeting to show similar results with the RBZ. With New Zealand, I think this is sheer folly.
Alan Bollard, the RBZ's governor, is perpetually plagued by the thought of a high kiwi placing more stress on NZ than it can handle.
He has repeatedly stated not to expect a hike or a cut "this cycle", yet the market believes he will change his mind.
A higher kiwi (off the low of 60) has helped inflationary pressures, and again, petrol prices have receeded.
I think the market has this one wrong too.
The RBA is a different story, and one I believe that can go either way.
Personally, I am again calling for them to stay put and not hike, though the market is screaming that a hike is "in the bag".
It probably is, though I see the case for staying loud and clear.
It's just that the signs of global slowing have not quite reached the ears of Macfarlane just yet, and as a result, they might think there's room for one more hike to squeeze by.
I think this is a mistake, but then again, I'm not on the board of any Reserve Bank (maybe that's a good thing!). Hiking now is premature, especially since they just hiked. Continuous tightening in the face of potential global slowdown without waiting to see the lagging effects of this type of policy is inherently dangerous, and will result in the long term stress to the economy.

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