1.Forex Strategy Builder is
Free forex software
Free forex software
Forex Strategy Builder is a visual forex strategy back tester. It uses combinations of technical indicators and logic rules to simulate a trading process employing historical forex rates. An included automatic strategy generator enables you to compose a profitable strategy. An optimizer, an intraday scanner, a bar explorer and an interpolation methods comparator are included to guarantee the maximum quality of your forex strategy development.
Supported Operating Systems:
- Windows 98
- Windows 98 Second Edition
- Windows ME
- Windows 2000 Service Pack 3
- Windows Server 2003
- Windows XP Service Pack 2
- Windows Vista
Download
For USA
http://forexsb.com/downloads/ForexStrategyBuilder.exe
For Europe
http://forexstrategybuilder.com/downloads/ForexStrategyBuilder.exe
2.Forex Market Hours Monitor
Forex Market Hours Monitor is a free software for tracking active Forex market sessions worldwide (London, New York, Sydney, Tokyo). This freeware can be used by all forex traders trading in any time zone.
For USA
http://forexsb.com/downloads/ForexStrategyBuilder.exe
For Europe
http://forexstrategybuilder.com/downloads/ForexStrategyBuilder.exe
2.Forex Market Hours Monitor
Forex Market Hours Monitor is a free software for tracking active Forex market sessions worldwide (London, New York, Sydney, Tokyo). This freeware can be used by all forex traders trading in any time zone.
Prime4x is a new Forex broker that started offering its services on-line in 2008 and its description was added to my site today. Prime4x offers MetaTrader 4 platform, CFD instruments to trade on, deposits via wire transfer and credit cards only and various bonuses. The minimum account size is $100 and all traders receive 10% bonus on their deposit. There is also a free promotional bonus $500 available on every new account, which can’t be withdrawn, but the profit earned from trading this bonus can be. Prime4x is based in Cyprus and although they are not currently regulated by any authority there, they claim to get the regulation by the Cyprus Securities Exchange Commission from the beginning of 2009. Trading is leveraged by 1:500 for mini accounts, 1:400 for standard accounts and 1:100 for institutional accounts. Apart from the retail Forex trading Prime4x offers managed accounts service.
The only problem with this Forex broker is their website. It’s completely unprofessional, features examples of some really awkward spelling and punctuation and also tries to resize the browser window with each page load.
Tags: CFD, Forex broker, MetaTrader
An interesting e-book was written back in 1998 by Sam Y. Cross of the Federal Reserve Bank of New York — All About the Foreign Exchange Market in the United States. In the focus of this e-book is the U. S. Forex market in its common understanding — not the macroeconomic currency indicators. This e-book was written in the pre-euro era, so it contains some archaisms — such as French franc and Deutsche Mark. The research presented in this book would be interesting not only to Forex traders (who can get a lot of useful facts from it) but also to everyone, who is interested in the currency trading market, because it is a part of its history. 10 years ago, the on-line Forex market as it’s currently known to millions of traders, has been only starting to develop and it’s amazing to read about the market’s history and understand what a way the Forex market has came until now. This e-book is now available for a free download from my site.
Tags: Forex book, Forex market
EUR/USD trend: sell.
GBP/USD trend: sell.
USD/JPY trend: sell.
EUR/JPY trend: sell.
| Floor Pivot Points | |||||||
|---|---|---|---|---|---|---|---|
| Pair | 3rd Sup | 2nd Sup | 1st Sup | Pivot | 1st Res | 2nd Res | 3rd Res |
| EUR/USD | 1.1869 | 1.2198 | 1.2457 | 1.2786 | 1.3045 | 1.3374 | 1.3633 |
| GBP/USD | 1.4457 | 1.4996 | 1.5319 | 1.5858 | 1.6181 | 1.6720 | 1.7043 |
| USD/JPY | 92.69 | 94.73 | 96.47 | 98.51 | 100.25 | 102.29 | 104.03 |
| EUR/JPY | 112.77 | 117.63 | 121.26 | 126.12 | 129.75 | 134.61 | 138.24 |
| Woodie’s Pivot Points | |||||
|---|---|---|---|---|---|
| Pair | 2nd Sup | 1st Sup | Pivot | 1st Res | 2nd Res |
| EUR/USD | 1.2181 | 1.2423 | 1.2769 | 1.3011 | 1.3357 |
| GBP/USD | 1.4996 | 1.5319 | 1.5858 | 1.6181 | 1.6720 |
| USD/JPY | 94.73 | 96.47 | 98.51 | 100.25 | 102.29 |
| EUR/JPY | 117.63 | 121.26 | 126.12 | 129.75 | 134.61 |
| Camarilla Pivot Points | ||||||||
|---|---|---|---|---|---|---|---|---|
| Pair | 4th Sup | 3rd Sup | 2nd Sup | 1st Sup | 1st Res | 2nd Res | 3rd Res | 4th Res |
| EUR/USD | 1.2394 | 1.2555 | 1.2609 | 1.2663 | 1.2771 | 1.2825 | 1.2879 | 1.3040 |
| GBP/USD | 1.5168 | 1.5405 | 1.5484 | 1.5563 | 1.5721 | 1.5800 | 1.5879 | 1.6116 |
| USD/JPY | 96.14 | 97.18 | 97.53 | 97.87 | 98.57 | 98.91 | 99.26 | 100.30 |
| EUR/JPY | 120.22 | 122.56 | 123.33 | 124.11 | 125.67 | 126.45 | 127.22 | 129.56 |
| Tom DeMark’s Pivot Points | ||||
|---|---|---|---|---|
| Pair | EUR/USD | GBP/USD | USD/JPY | EUR/JPY |
| Resistance | 1.2916 | 1.6020 | 99.38 | 127.94 |
| Support | 1.2328 | 1.5158 | 95.60 | 119.45 |
| Fibonacci Retracement Levels | ||||
|---|---|---|---|---|
| Pairs | EUR/USD | GBP/USD | USD/JPY | EUR/JPY |
| 100.0% | 1.3114 | 1.6397 | 100.54 | 130.98 |
| 61.8% | 1.2889 | 1.6068 | 99.10 | 127.74 |
| 50.0% | 1.2820 | 1.5966 | 98.65 | 126.74 |
| 38.2% | 1.2751 | 1.5864 | 98.20 | 125.73 |
| 23.6% | 1.2665 | 1.5738 | 97.65 | 124.49 |
| 0.0% | 1.2526 | 1.5535 | 96.76 | 122.49 |
The Japanese candlesticks is a nice tool of trading for any chart-trader. Some Forex traders prefer to trade on the bare charts without adding any indicators. The candlestick patterns are used as the entry and exit symbols in many cases. But it’s not an easy task to constantly recognize those Shooting Stars, various Dojis, Hammers, etc. Pattern Recognition Master is a nice tool to help the chart-traders to automatically recognize candlestick patterns, leaving the traders only with the choices of the actual trading. You can download this MetaTrader indicator from my site for free. It was created by Jason Robinson, Carl Sanders and Hartono Setiono.
When you attach it to your MT4 chart each candle that represents some candlestick pattern will be marked with the symbol. A legend for the symbols is located in the top left corner of the chart and you can easily find out which patter is represented by the specific symbol. Now, all you have to do is to buy after the strong bullish patterns and sell on the strong bearish patterns.
EUR/USD declined today after the U.S. elections were over and the next president’s name became known fast and without any troubles. Barack Obama may create all necessary conditions for the dollar to grow further, but it will take him a lot of effort to do so. When the euphoria around the elections disappeared, EUR/USD began to rise on Forex. The macroeconomic background in U.S. is very poor now and it will press on the dollar too. EUR/USD is currently trading near 1.3032.
ADP employment report for October showed a 157,000 decline in the non-farm private sector jobs. The September’s 8,000 drop was also revised — down to 26,000 lost jobs. The median forecast by the market analysis for October drop was 102,000.
Non-manufacturing ISM index also decreased in October — from 50.2% to 44.4%, while a drop to only 47.8% was expected by the market participants. There is a chance though that the month of October was the worst in the current crisis and the reports that will show November indicators will be more optimistic.
EUR/USD trend: sell.
GBP/USD trend: sell.
USD/JPY trend: sell.
EUR/JPY trend: sell.
| Floor Pivot Points | |||||||
|---|---|---|---|---|---|---|---|
| Pair | 3rd Sup | 2nd Sup | 1st Sup | Pivot | 1st Res | 2nd Res | 3rd Res |
| EUR/USD | 1.1317 | 1.1824 | 1.2275 | 1.2782 | 1.3233 | 1.3740 | 1.4191 |
| GBP/USD | 1.3952 | 1.4615 | 1.5345 | 1.6008 | 1.6738 | 1.7401 | 1.8131 |
| USD/JPY | 86.15 | 89.10 | 93.78 | 96.73 | 101.41 | 104.36 | 109.04 |
| EUR/JPY | 98.23 | 105.93 | 115.62 | 123.32 | 133.01 | 140.71 | 150.40 |
| Woodie’s Pivot Points | |||||
|---|---|---|---|---|---|
| Pair | 2nd Sup | 1st Sup | Pivot | 1st Res | 2nd Res |
| EUR/USD | 1.1810 | 1.2248 | 1.2768 | 1.3206 | 1.3726 |
| GBP/USD | 1.4615 | 1.5345 | 1.6008 | 1.6738 | 1.7401 |
| USD/JPY | 89.10 | 93.78 | 96.73 | 101.41 | 104.36 |
| EUR/JPY | 105.93 | 115.62 | 123.32 | 133.01 | 140.71 |
| Camarilla Pivot Points | ||||||||
|---|---|---|---|---|---|---|---|---|
| Pair | 4th Sup | 3rd Sup | 2nd Sup | 1st Sup | 1st Res | 2nd Res | 3rd Res | 4th Res |
| EUR/USD | 1.2200 | 1.2464 | 1.2551 | 1.2639 | 1.2815 | 1.2903 | 1.2990 | 1.3254 |
| GBP/USD | 1.5309 | 1.5692 | 1.5820 | 1.5947 | 1.6203 | 1.6330 | 1.6458 | 1.6841 |
| USD/JPY | 94.26 | 96.36 | 97.06 | 97.76 | 99.16 | 99.86 | 100.56 | 102.66 |
| EUR/JPY | 115.74 | 120.52 | 122.11 | 123.71 | 126.89 | 128.49 | 130.08 | 134.86 |
| Tom DeMark’s Pivot Points | ||||
|---|---|---|---|---|
| Pair | EUR/USD | GBP/USD | USD/JPY | EUR/JPY |
| Resistance | 1.3008 | 1.6373 | 102.89 | 128.17 |
| Support | 1.2050 | 1.4980 | 95.26 | 110.78 |
| Fibonacci Retracement Levels | ||||
|---|---|---|---|---|
| Pairs | EUR/USD | GBP/USD | USD/JPY | EUR/JPY |
| 100.0% | 1.3288 | 1.6671 | 99.68 | 131.03 |
| 61.8% | 1.2922 | 1.6139 | 96.77 | 124.39 |
| 50.0% | 1.2809 | 1.5975 | 95.87 | 122.34 |
| 38.2% | 1.2696 | 1.5810 | 94.96 | 120.28 |
| 23.6% | 1.2556 | 1.5607 | 93.85 | 117.74 |
| 0.0% | 1.2330 | 1.5278 | 92.05 | 113.64 |
EUR/USD went down today after rising to 1.2897 early today. A bit of optimism brought by the positive Asian trading dissolved fast after European stock markets failed to continue the rally. EUR/USD is currently trading near 1.2776 after housing and manufacturing data releases in U.S.
ISM PMI (manufacturing index) fell from 43.5% to 38.9% in October, while the forecast showed a decline to 42% for the last month.
Construction spending declined by 0.3% in September after remaining unchanged in August. A decline by 0.8% was expected by the market.
EUR/USD dropped today for the second day despite the correctional wave that was forming during the last three days. After peaking at 1.3288 yesterday, the currency pair is now trading near 1.2733 as the traders continue to dump other currencies and buy U.S. dollars.
U.S. personal income rose by 0.2% in September, following 0.4% increase in August and slightly above 0.1% forecast. Personal spending decreased faster than the analytics expected — by 0.3% instead of 0.2%. This decline followed the stagnation in August.
Chicago PMI declined at a surprisingly fast pace in October — from 56.7 to 37.8. Market analytics forecasted a drop 48.0.
Michigan Sentiment Index dropped from 70.3 to 57.6 in October, which is slightly above 57.5 forecast value.
A Practical Guide to Swing Trading — Free eBook
September 10th, 2008Now you can download a completely free ebook on the swing trading from my site — it’s «A Practical Guide to Swing Trading» by Larry Swing. Although this book doesn’t deal with the Forex market specifically and was written with the stocks in mind, it still can be applied to the Forex trading, and I must say that even before I read it I’ve been using the strategy described in this book myself with currencies.
Swing trading as it described in this book is a trading where you enter a market in the main trend’s direction, but only after a significant pullback that is followed by a clear signal that the trend will continue occurs. Theoretically, it can be applied to both intraday and daily charts, but the author suggest holding positions for several days before realizing the profit.
Another good thing is that, while this ebook is quite long (74 pages), it reads very easy and fast. If you think that the swing trading is for you, download it.
EUR/USD Grows Little on Flat Pending Home Sales
September 9th, 2008EUR/USD traded today with a great deal of the intraday volatility — it managed to reach its almost two year minimum level at 1.4046 during the early Asian trading and post an upward spike later.After today’s portion of the U.S. macroeconomic statistics came out, the currency pair left its equilibrium point and rose a little. It is now trading close to 1.4126 level.
Pending home sales index fell 3.2% to 86.5 in July. This decline followed 5.8% increase in June (revised up from 5.3%). The estimated decline for July was at 1.3%.
Wholesale inventories continued to grow July — they gained 1.4% after 0.9% growth a month before. Average forecast for this indicator’s growth was 0.6%.
Microtrading with FXCM
September 7th, 2008FXCM broker entered the market with a new micro trading opportunity — FXCM Micro Forex broker. As many new traders prefer to trade with the small amounts of money, such brokers as FXCM can’t fulfill their needs. FXCM Micro looks like a really good opportunity for the low-budget traders. It offers $25 minimum account balance (with a maximum cap at $5,000) with 0.01 lots minimum for the position traded volume. Leverage is fixed at 1:400 level which is nice for the risky players with a little capital, but not many experienced traders would like tolerating the risk connected with such a leverage. 1.5 pips average spread on EUR/USD allows some really interesting short-term trading strategies.
Of course, it’s hardly a good broker choice for the professional traders or those who wish to start out with a big real account capital and a lower risk setting. Deposit and withdrawal can be done only via the credit card with this broker. Anyway, FXCM Micro is one of the few Forex brokers that offer micro Forex accounts and are regulated by the NFA.
Forex Technical Analysis for 09/08—09/12 Week
September 6th, 2008EUR/USD trend: sell.
GBP/USD trend: sell.
USD/JPY trend: hold.
EUR/JPY trend: hold.
| Floor Pivot Points | |||||||
|---|---|---|---|---|---|---|---|
| Pair | 3rd Sup | 2nd Sup | 1st Sup | Pivot | 1st Res | 2nd Res | 3rd Res |
| EUR/USD | 1.3541 | 1.3868 | 1.4068 | 1.4395 | 1.4595 | 1.4922 | 1.5122 |
| GBP/USD | 1.6854 | 1.7196 | 1.7430 | 1.7772 | 1.8006 | 1.8348 | 1.8582 |
| USD/JPY | 102.12 | 103.82 | 105.78 | 107.48 | 109.44 | 111.14 | 113.10 |
| EUR/JPY | 140.62 | 145.60 | 149.64 | 154.62 | 158.66 | 163.64 | 167.68 |
| Woodie’s Pivot Points | |||||
|---|---|---|---|---|---|
| Pair | 2nd Sup | 1st Sup | Pivot | 1st Res | 2nd Res |
| EUR/USD | 1.3836 | 1.4004 | 1.4363 | 1.4531 | 1.4890 |
| GBP/USD | 1.7196 | 1.7430 | 1.7772 | 1.8006 | 1.8348 |
| USD/JPY | 103.82 | 105.78 | 107.48 | 109.44 | 111.14 |
| EUR/JPY | 145.60 | 149.64 | 154.62 | 158.66 | 163.64 |
| Camarilla Pivot Points | ||||||||
|---|---|---|---|---|---|---|---|---|
| Pair | 4th Sup | 3rd Sup | 2nd Sup | 1st Sup | 1st Res | 2nd Res | 3rd Res | 4th Res |
| EUR/USD | 1.3977 | 1.4122 | 1.4170 | 1.4219 | 1.4315 | 1.4364 | 1.4412 | 1.4557 |
| GBP/USD | 1.7348 | 1.7507 | 1.7559 | 1.7612 | 1.7718 | 1.7771 | 1.7823 | 1.7982 |
| USD/JPY | 105.73 | 106.73 | 107.07 | 107.40 | 108.08 | 108.41 | 108.75 | 109.75 |
| EUR/JPY | 148.71 | 151.19 | 152.02 | 152.84 | 154.50 | 155.32 | 156.15 | 158.63 |
| Tom DeMark’s Pivot Points | ||||
|---|---|---|---|---|
| Pair | EUR/USD | GBP/USD | USD/JPY | EUR/JPY |
| Resistance | 1.4495 | 1.7889 | 108.46 | 156.64 |
| Support | 1.3968 | 1.7313 | 104.80 | 147.62 |
| Fibonacci Retracement Levels | ||||
|---|---|---|---|---|
| Pairs | EUR/USD | GBP/USD | USD/JPY | EUR/JPY |
| 100.0% | 1.4723 | 1.8113 | 109.18 | 159.61 |
| 61.8% | 1.4522 | 1.7893 | 107.78 | 156.16 |
| 50.0% | 1.4460 | 1.7825 | 107.35 | 155.10 |
| 38.2% | 1.4397 | 1.7757 | 106.92 | 154.04 |
| 23.6% | 1.4320 | 1.7673 | 106.38 | 152.72 |
| 0.0% | 1.4196 | 1.7537 | 105.52 | 150.59 |
Forex Technical Analysis for 09/01—09/05 Week
August 30th, 2008EUR/USD trend: sell.
GBP/USD trend: sell.
USD/JPY trend: hold.
EUR/JPY trend: sell.
| Floor Pivot Points | |||||||
|---|---|---|---|---|---|---|---|
| Pair | 3rd Sup | 2nd Sup | 1st Sup | Pivot | 1st Res | 2nd Res | 3rd Res |
| EUR/USD | 1.4322 | 1.4447 | 1.4562 | 1.4687 | 1.4802 | 1.4927 | 1.5042 |
| GBP/USD | 1.7390 | 1.7781 | 1.7996 | 1.8387 | 1.8602 | 1.8993 | 1.9208 |
| USD/JPY | 106.21 | 107.31 | 108.06 | 109.16 | 109.91 | 111.01 | 111.76 |
| EUR/JPY | 154.78 | 156.99 | 158.33 | 160.54 | 161.88 | 164.09 | 165.43 |
| Woodie’s Pivot Points | |||||
|---|---|---|---|---|---|
| Pair | 2nd Sup | 1st Sup | Pivot | 1st Res | 2nd Res |
| EUR/USD | 1.4445 | 1.4558 | 1.4685 | 1.4798 | 1.4925 |
| GBP/USD | 1.7781 | 1.7996 | 1.8387 | 1.8602 | 1.8993 |
| USD/JPY | 107.31 | 108.06 | 109.16 | 109.91 | 111.01 |
| EUR/JPY | 156.99 | 158.33 | 160.54 | 161.88 | 164.09 |
| Camarilla Pivot Points | ||||||||
|---|---|---|---|---|---|---|---|---|
| Pair | 4th Sup | 3rd Sup | 2nd Sup | 1st Sup | 1st Res | 2nd Res | 3rd Res | 4th Res |
| EUR/USD | 1.4546 | 1.4612 | 1.4634 | 1.4656 | 1.4700 | 1.4722 | 1.4744 | 1.4810 |
| GBP/USD | 1.7877 | 1.8043 | 1.8099 | 1.8154 | 1.8266 | 1.8321 | 1.8377 | 1.8543 |
| USD/JPY | 107.78 | 108.29 | 108.46 | 108.63 | 108.97 | 109.14 | 109.31 | 109.82 |
| EUR/JPY | 157.71 | 158.68 | 159.01 | 159.33 | 159.99 | 160.31 | 160.64 | 161.61 |
| Tom DeMark’s Pivot Points | ||||
|---|---|---|---|---|
| Pair | EUR/USD | GBP/USD | USD/JPY | EUR/JPY |
| Resistance | 1.4745 | 1.8549 | 110.46 | 162.99 |
| Support | 1.4505 | 1.8192 | 108.61 | 159.44 |
| Fibonacci Retracement Levels | ||||
|---|---|---|---|---|
| Pairs | EUR/USD | GBP/USD | USD/JPY | EUR/JPY |
| 100.0% | 1.4811 | 1.8779 | 110.27 | 162.76 |
| 61.8% | 1.4719 | 1.8548 | 109.56 | 161.40 |
| 50.0% | 1.4691 | 1.8476 | 109.35 | 160.99 |
| 38.2% | 1.4663 | 1.8404 | 109.13 | 160.57 |
| 23.6% | 1.4628 | 1.8316 | 108.86 | 160.05 |
| 0.0% | 1.4571 | 1.8173 | 108.42 | 159.21 |
Forex Technical Analysis for 08/25—08/29 Week
August 23rd, 2008EUR/USD trend: sell.
GBP/USD trend: sell.
USD/JPY trend: hold.
EUR/JPY trend: hold.
| Floor Pivot Points | |||||||
|---|---|---|---|---|---|---|---|
| Pair | 3rd Sup | 2nd Sup | 1st Sup | Pivot | 1st Res | 2nd Res | 3rd Res |
| EUR/USD | 1.4446 | 1.4561 | 1.4677 | 1.4792 | 1.4908 | 1.5023 | 1.5139 |
| GBP/USD | 1.8379 | 1.8442 | 1.8484 | 1.8547 | 1.8589 | 1.8652 | 1.8694 |
| USD/JPY | 106.28 | 107.20 | 108.63 | 109.55 | 110.98 | 111.90 | 113.33 |
| EUR/JPY | 158.08 | 159.13 | 160.98 | 162.03 | 163.88 | 164.93 | 166.78 |
| Woodie’s Pivot Points | |||||
|---|---|---|---|---|---|
| Pair | 2nd Sup | 1st Sup | Pivot | 1st Res | 2nd Res |
| EUR/USD | 1.4561 | 1.4677 | 1.4792 | 1.4908 | 1.5023 |
| GBP/USD | 1.8442 | 1.8484 | 1.8547 | 1.8589 | 1.8652 |
| USD/JPY | 107.20 | 108.63 | 109.55 | 110.98 | 111.90 |
| EUR/JPY | 159.13 | 160.98 | 162.03 | 163.88 | 164.93 |
| Camarilla Pivot Points | ||||||||
|---|---|---|---|---|---|---|---|---|
| Pair | 4th Sup | 3rd Sup | 2nd Sup | 1st Sup | 1st Res | 2nd Res | 3rd Res | 4th Res |
| EUR/USD | 1.4665 | 1.4728 | 1.4750 | 1.4771 | 1.4813 | 1.4834 | 1.4856 | 1.4919 |
| GBP/USD | 1.8468 | 1.8497 | 1.8507 | 1.8516 | 1.8536 | 1.8545 | 1.8555 | 1.8584 |
| USD/JPY | 108.76 | 109.40 | 109.62 | 109.83 | 110.27 | 110.48 | 110.70 | 111.34 |
| EUR/JPY | 161.23 | 162.02 | 162.29 | 162.55 | 163.09 | 163.35 | 163.62 | 164.42 |
| Tom DeMark’s Pivot Points | ||||
|---|---|---|---|---|
| Pair | EUR/USD | GBP/USD | USD/JPY | EUR/JPY |
| Resistance | 1.4990 | 1.8805 | 111.44 | 164.41 |
| Support | 1.4711 | 1.8516 | 109.09 | 161.51 |
| Fibonacci Retracement Levels | ||||
|---|---|---|---|---|
| Pairs | EUR/USD | GBP/USD | USD/JPY | EUR/JPY |
| 100.0% | 1.4908 | 1.8610 | 110.48 | 163.09 |
| 61.8% | 1.4820 | 1.8570 | 109.58 | 161.98 |
| 50.0% | 1.4793 | 1.8558 | 109.31 | 161.64 |
| 38.2% | 1.4765 | 1.8545 | 109.03 | 161.30 |
| 23.6% | 1.4732 | 1.8530 | 108.68 | 160.87 |
| 0.0% | 1.4677 | 1.8505 | 108.13 | 160.19 |
A Six-Part Study Guide to Market Profile — Free eBook
August 22nd, 2008Today I offer you a new free ebook to download from my site — A Six-Part Study Guide to Market Profile. Actually it’s not very new — it was written in 1996 by the Chicago Board of Trade professionals. It thoroughly explains the one of the most innovative but not too popular trading concept — the market profile. First it will help you understand what market profile is and how it can help in your trading. The good thing here that it doesn’t matter if you are a long-term or a short-term trader. And although it was written for the commodity traders, it can still be easily applied in the Forex market. Then it will teach you how to use the market profile to monitor both short-term and long-term trends. This book will also tell you how to relate the daily trading volume with market activity and benefit from it. Carrying out the actual trading decisions relying on the market profile data is described in the last two chapters of this ebook.
The only problem with this book is its size — it’s 346 pages long and it will take a while both to download and to read. Nevertheless, if you are interested in the concept of market profile it will be a helpful addition to your electronic library.
EUR/USD Rises above the Friday Open Level
August 21st, 2008Dollar declined today against the euro, allowing EUR/USD currency pair to rise above the last Friday’s open level. Currently it is trading near 1.4863 — 58 pips above Friday’s open. The decline was most probably caused by the investors’ concerns related to the U.S. financial market.
Initial jobless claims decreased from 445k to 432k last week in the United States — that’s below the median forecast 438k.
Leading indicators showed a more than expected declined posting a -0.7% change in July after 0.1% decline in June and 0.3% decline forecast for this month.
Philadelphia Fed index improved in August. It rose from -16.3 back in July to -12.7 this month. This growth exceeds the average estimate according to which the index should have risen to -13.4 only. Despite the growth it still remains at a very low negative level and is signaling a slowdown of the U.S. economy.
Statstical Forex System — Example MT4 Expert Advisor
August 20th, 2008After saying so much about the statistical Forex systems, I think it’s time to give an example of one. But first, I have to warn that this exert advisor «as is» wasn’t profitable during tests — it had its losses and gains, but spread losses took over eventually, so I can’t suggest using it on your real money account. This expert advisor is good only as an example of an actual statistical Forex system. It uses Tom DeMark’s pivot points calculated over the last 5 bars, which are then normalized by subtracting the current Open price. I used it on EUR/USD H1 chart, but I believe that it can be used on any other currency pair and timeframe. It consists of two .mq4 files:
The first file is StatGathererExample.mq4 — as it appears from its name, this MetaTrader EA will only gather statistics. Run it via strategy tester on a 1-2 year history period (it doesn’t have to be a good quality history, because it has nothing to do with price ticks, and uses just your OHLC data from bars; just be sure to have enough bars in your chart). This EA gathers statistics over a period of time and stores it to MapPath file («rl.txt» by default) in your /tester/files/ directory. Copy it to /experts/files/ for further use by the actual expert advisor.
And the second file is StatRunnerExample.mq4 — this EA is used for the actual trading and on-the-fly statistics gathering. This EA uses MapPath file («rl.txt» by default) from your /tester/files/ (for strategy tester) or /experts/files/ (for actual use) to get the initial statistics. It also continues to gather its own statistics and appends it to the initial file, saving it after deinitilizing.
You can freely use these examples to construct your own statistical Forex systems. I am also currently developing a statistical expert advisor that would be profitable and I promise to share it after the testing period.
EUR/USD Continues Falling on High PPI in U.S.
EUR/USD declined today for the fourth day as the producer price index was reported at a higher than expected level in the United States. Even the worsening of the housing market failed to press on the U.S. dollar today.
Building permits were at 937k in July down from 1,138k in June (revised up from 1,091k). They were expected to fall to 959k annual rate. There were 965k housing starts in July in U.S — down from 1,084k in June (revised up from 1,066k) and slightly above the forecast for July — 960k.
Producer price index (PPI) advanced 1.2% in July — below the 1.8% growth in June but twice as much as the average forecast of 0.6% for July.
e-gold
e-gold is an electronic currency, issued by e-gold Ltd., a Nevis corporation, 100% backed at all times by gold bullion in allocated storage.
Other e-metals are also issued: e-silver is 100% backed by silver, e-platinum is 100% backed by platinum, and e-palladium is 100% backed by palladium. However, the most popular e-metal (by an overwhelming margin) is e-gold.
e-gold is integrated into an account based payment system that empowers people to use gold as money. Specifically, the e-gold payment system enables people to spend specified weights of gold to other e-gold accounts. Only the ownership changes - the gold in the treasury grade vault stays put.
In other words, e-gold is an internetional payment system, which allows it's customers to make fast, inexpensive and reliable transactions over the Internet. That's why e-gold is a very recomended method for depositing and withdrawing funds with the FOREX broker companies. Following on-line Forex brokers support e-gold:
To open account with e-gold, please go to http://www.e-gold.com.
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A list of Forex brokers which offer e-gold payment system as an option for funds deposit and withdraw. e-gold Forex brokers provide fast, usually commission free way to transfer money to and from Forex trading account, while keeping these transactions anonymous.
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Click here to open an account with FXOpen
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Click here to open an account with InstaForex
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Click here to open an account with FXcast
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Click here to open an account with MasterForex
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Click here to open an account with Ava FX
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Click here to open an account with Forex WebTrader
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Click here to open an account with Real Trade
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Click here to open an account with MoneyForex
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Click here to open an account with IFC Markets
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Click here to open an account with Neuimex MFN:
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MetaTrader 4 Forex Brokers — a list of Forex brokerage firms which support MetaTrader 4 Forex trading software as their trading platform.
PayPal Forex Brokers — a list of Forex brokers accepting PayPal on-line payment system as a way to deposit/withdraw money to/from customers' accounts.
WebMoney Forex Brokers — a list of Forex brokers that accept WebMoney e-currency system as the fast deposit/witdhrawal method, offering high security combined with the fast transfers.
e-gold Forex Brokers — a list of Forex brokers which accept e-gold payment system as the method of depositing/withdrawing funds to/from the trading accounts.
Muslim Friendly Forex Brokers — a list of Forex brokers which try to be friendly to Muslim Forex traders offering "no-interest" margin accounts.
Forex Brokers with Web Based Platform — a list of Forex brokers which fully support Forex trading without installing any trading software.
Forex Brokers with Advanced Trading Platform — a list of Forex brokers with unique and powerful Forex trading software.
Institutional Forex Brokers — a list of on-line Forex brokers which are backed by strong and respected off-line financial companies.
Forex Brokers with CFD Trading — a list of Forex broker companies that allow their traders to trade not only Forex, but also CFDs (Contracts for Difference).
ECN Forex Brokers — a list of on-line Forex brokers which act as ECNs (Electronic Communication Network) offering Forex traders highly competitive spreads.
A full list of retail Forex broker companies that offer on-line Forex trading services:
WebMoney is an electronic currency system operated by WM Transfer Ltd. There are several e-currencies circulating in this system, with the most popular being - WMZ (equals to $1 U.S.), WME (equals 1 euro) and WMR (equals 1 Russian ruble).
WebMoney utilizes several methods for their customers to access system accounts - WebMoney Keeper Classic (the most secure and fully functional access with highly sophisticated software), WebMoney Keep Lite (less secure, but still protected access - via Internet browser). Other methods are available but are rarely used. WebMoney can boast more than 100 million dollars daily turnaround funds and millions customers around the world. Though, WebMoney started as a Russian payment system, it is now became an internationally popular e-currency system with a large number of representatives in all over the world and the developed deposit/withdrawal system.
WebMoney is a highly secure on-line payment system, offering security through the special protected key-files - even if your password is hacked your funds are still secure. While generic WebMoney accounts are anonymous, money withdrawal transaction involve personal identification. These ways make WebMoney far more secured than e-gold or any other on-line payment system.
WebMoney is a good alternative for those Forex traders which search for fast, secure and easy-to-use method to fund their accounts without the troublesome worries with credit cards or bank wires. Many Forex brokers support WebMoney as the deposit/withdrawal option. Here is a short list of recommended Forex brokers supporting WebMoney.
To open account with WebMoney, please go to http://www.wmtransfer.com.
User reviews of FXOpen are presented here. All reviews represent only their author opinion which is not necessarily based on real facts. If you want more information about this broke
| cynthia grasvik from usa | 08/22/2007 |
| I opened a real account on 8/10/07 as of 8/21/07 my account has not been credited. I sent 3 e-mails with no response. Open a demo account and you will see no automatic rollovers. Avoid these crooks and thieves. Rated as a scam big time! Again, avoid this piece of shit company. Cynthia G. Seattle Wa. | |
| cynthia grasvik from usa | 08/22/2007 |
| Being a muslim friendly broker is a joke. This company goes by at least 5 different names. I opened a real account weeks ago and have yet to have my account credited. All e-mails went unanswered. Avoid this crap company at all costs. Crooks and thieves. Rated as a #1 scam. Cynthia G. Seattle, Wa | |
| FX Open Manager from Lithuana | 08/29/2007 |
| Dear cynthia grasvik, Please provide any evidence about what are you talking about. Also, you can provide your account number and email adress so we can check for your activity ( I am sure that things you are posting never happened). If you have any "real" problems working with us, please post it and we will try to solve it. P.S. Hope Admin of the blog will allow my review. | |
| Preet Kanwaljit Singh from India | 08/29/2007 |
| Opened an account with USD $17,000 on fxopen in July, I have withdrawn to bank twice already and made about 217% of my initial deposit trading GBPJPY pair so far. I love this broker, very friendly and very good. Excellent trade execution and best of all I get excellent trades using my own custom indicators. I strongly recommend this broker to everyone.
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| Jafar Calley from France | 08/29/2007 |
| I don't know what Cynthia's problem is. FXOpen has always been good to me in the 5 months I have been with them. My deposits are instant except for the ones by wire which hit my account with a reasonable 3 days delay. As for Cynthia's claim the broker goes by 5 names, they are all the same broker. Regional partners such as fxfrench.com, fxmalay.com, fxind.com etc.. come with their own support staff for each region which is not such a bad thing. As for having no emails answered, I find that hard to believe. The support is always there and if you think Cynthia is being truthful, just look on the official fxegypt forum for all the thankyous for the rapid and friendly service. There is even a thank you thread started by one of the traders. They are not crooks or thieves. They even work out issues in your favour like one time there was a spike(on the old server. They have recently upgraded) on aud/usd that took out my stop loss. 1/2 hour after my email complaining about it, my money was returned to the account, and the position re-established which eventually rode to my take profit target. In a nutshell, fast service, low spread, fast execution and a good selection of currency pairs and futures to trade makes fxegypt (an FXOpen partner) my choice of broker.
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| Reynan from Philippines | 09/02/2007 |
| Hi Everyone... I highly recommend this broker. I have been trading for quite while and as i tried this broker i found them very reputable. Spreads are tight and never widen even during news time. On fast moving market you will get requote but that is the reality in fx market which simply means that no widening really is happening. SLs and TPs are guaranteed to be executed. If you want instant answers to your questions go contact their online support and you will have the answers. I am managing more than 20k account with them and executing as high as 8 lots on one single transactions but never encountered any problem. if you want any proof you may email me: mark_ethan27@yahoo.com | |
| DAVID BOONE from USA | 09/09/2007 |
| Hi all! I was very satisfied when i got 1$ to my new micro account as they promised! And i was satisfied even greater when i got pay out to my e-gold account after i made some profit! fxopen - respect! | |
| Mohamed Ahmed from Egypt | 11/12/2007 |
| SCAM COMPANY at 3-10-2007 i traded AUD retail sales news "check attachment" i made more than 2,000$ profit next day fxopen email says: > Hello, > your account 13654 will be closed permanently. You will be able to > withdraw your initial deposit form that account. this is management decision. Your remain money will be processed to you by the method of your deposit | |
| Ty Amani from USA | 12/24/2007 |
| I'm thinking of opening life account with fxopen but...? FX Open Manager from Lithuana please respond to the last posting by Mohamed Ahmed from Egypt. | |
| nik harman hamzi from Malaysia | 01/03/2008 |
| hello, my opinion is fxopen the best broker which i used before. they attracted me by proposing bonus(of course i lost it). but their conditions and execution speed made me to stay with them more. now i tripled my balance:) and this is from september, not bed i think:) fxopen keep your great work!!! | |
| muhammad irwan from Malaysia | 12/28/2007 |
| I have heard from my friends this broker are the best broker but im still in survey to find good and honest broker.But im still not confident with this broker because their website is too simple no address how to contact only juat phone number.This company have many times change their name from Beaverhead to poltek and lastly to belvedre.Is it this company have a licensed and registered? To lithuana please respond to the last posting by Mohamed Ahmed from egypt. | |
| Ahmad from Malaysia | 01/14/2008 |
| Regardless of what people are saying... For me this broker are truly fantastic , I have no problem with this broker , all things are perfect....Thanks... In addition this broker have introduced multiple language option... fxopen (english), fxegypt(arab) , fxmalay(malay) & fxindo(indonesia) ,fxind.com(indonesia) & many more I think.... Thanks, admin... | |
| Javen from Singapore | 01/29/2008 |
| This company is a scam company. after the Non Farm payroll news JAN08, i started trading and had incur losses. after few hours later, there was a CAD news, i have make a profit of $2640USD using 4 lots on that trade. It was my only winning trade. When i was happy that i have recover all my losses + profits. i wanted to make a withdrawal. But the TRADE profit became 0. and i ask the online help, they just divert me to finance@ fxopen etc and i did not even receive any respond or explanation at all.. and i had email them several times. i try going online through the online help but no USE. Calling them but to no avail. once they hear your acc no., they will say they cant hear properly and hang up. What sort of services is this?? Loses i paid... then my Winnings THEY TAKE AWAY!!!!!!! SCAM. Anyway to bring them down.? i even have the black and white. and the statement shows clearly
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| John Nondas from USA | 02/02/2008 |
| I'am using this broker in addition to my main(GFT) as they allow using EA. Very good broker for teting any strategies. WIthdrawal- no problem even fater then in GFT. | |
| Jesse from USA | 02/10/2008 |
| this guys really good. I recomend to everyone. I got 100% during the news time on Friday and in 2 hours my profit was at my e-bullion account! WOW! fxopen the best! | |
| balldrick from Earth | 03/26/2008 |
| Do not enter into any dialogue with these people.They are professional liars and will just twist it all around and make it look like your fault.They are a scam #1 scam they were never a broker the money you see in your account is not real they have kept and spent your money as soon as you sent it to them.Anyone rating them as good are either affiliate customers trying to get you to sign up or it is them.SCAM STAY AWAY 100% | |
| Bob Gever from Concord NH USA | 03/30/2008 |
| Any company not telling you there owners name and phyical addrees is not to be trusted!!! | |
| FXOpen Representative from BLR | 04/28/2008 |
| Hello cynthia grasvik from usa, you can contact FXOpen Manager direct by using SKYPE: fxegypt.com , be sure that FXOpen is not interested to take your money at all. Regards. | |
| Enki from Canada | 05/10/2008 |
| Hi Everybody... Here is a horror story about this broker www.fxopen.info | |
| FXOpen from Lithuania | 05/21/2008 |
| Hello Enki, fxopen.info is a project made by our ex-partners which have no any other ideas just to make "black" piar against FXOpen, which is one of the most fast growing companies on the market. This is busines... | |
| mayank sharma from india | 07/03/2008 |
| search online for any broker. ull find people saying good nd bad things, but normally not many people say -THANK YOU BROKER. its just normal mentality. just imagine ur self writing a review nd imagine how its gonna be. now just look above on the page- ull see many thank u's. whats the conclusion - FXopen writes its own reviws or gets them written. it has to be a scam! | |
| Alain from Canada | 07/04/2008 |
| Well, I've read lots of review here, but not sure either true or not. I want to open a 1$ dollar account and test out. | |
| uciyaya from malaysia | 07/05/2008 |
| i loved this broker so much.ive been 1year with the.if i got any problem they solve my problem.thnaks | |
| FXOpen from LTU | 07/06/2008 |
| Dear mayank sharma from india, We have opened a thread at our forum with the link to earnforex.com website http://forum.fxopen.com/showthread.php?t=16511 so each of our forum users can make a post here (positive or negative). Whats the conclusion? FXopen have many Clients. | |
| Mohammed Sikdar from USA | 07/16/2008 |
| Hello all, I've read so many reviews to choose a broker and I did not find even a single one with out bad and some good comment. The fact is all brokers want to avoid scalpers.So trade yourself and gain experience. I'm going to open an account to taste all above comment. Thank you. P,S- "you can have everything in your life,if you can help enough other people to get what they wants " http:// www.ms2008.ws | |
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