Blog – Page 303

September 7
2008

Microtrading with FXCM

FXCM 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 cant 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 […]

September 6
2008

Forex Technical Analysis for 09/08—09/12 Week

EUR/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 […]

August 30
2008

Forex Technical Analysis for 09/01—09/05 Week

EUR/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 […]

August 23
2008

Forex Technical Analysis for 08/25—08/29 Week

EUR/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 […]

August 22
2008

A Six-Part Study Guide to Market Profile Free eBook

Today I offer you a new free ebook to download from my site — A Six-Part Study Guide to Market Profile. Actually its 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. […]

August 21
2008

EUR/USD Rises above the Friday Open Level

Dollar declined today against the euro, allowing EUR/USD currency pair to rise above the last Fridays open level. Currently it is trading near 1.4863 — 58 pips above Fridays 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 — thats below the median forecast 438k. Leading […]

August 20
2008

Statistical Forex System Example MT4 Expert Advisor

After saying so much about the statistical Forex systems, I think its time to give an example of one. But first, I have to warn that this exert advisor «as is» wasnt profitable during tests — it had its losses and gains, but spread losses took over eventually, so I cant 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 DeMarks pivot points calculated […]

August 19
2008

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 Building […]

August 18
2008

Statistical Forex System Complexity of a System

The final part of my introduction into statistical Forex system development is dedicated to the complexity of the resulting expert advisor (or automated program if you want to create such strategy for anything else than MetaTrader platform). When traders think about Forex system, they come to a conclusion that a simple trading system can’t be […]

August 17
2008

Statistical Forex System Decision Making

After statistical Forex systems were introduced in my blog, Ive described the problems of timeframe selection and statistics gathering. Now its time to discuss the decision making problem of such trading systems. When a completed strategy has enough statistical information and a sample from the current market situation it should have some methods of comparing the statistical information with the sample and make the decision regarding […]