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October 19
2008

Money Management Strategies for Serious Traders

Money Management Strategies for Serious Traders by David Stendahl is a new addition to the money management Forex books listed on my site. The importance of the money management is often underestimated by the traders irrespectively to their proficiency level. What this short ebook is trying to explain, is the necessity of the integration of the money management principles into your trading system. Money management can’t be left unnoticed, the risk/reward ration […]

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October 18
2008

Forex Technical Analysis for 10/20—10/24 Week

EUR/USD trend: hold. GBP/USD trend: hold. 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 1.2823 1.3084 1.3246 1.3507 1.3669 1.3930 1.4092 GBP/USD 1.6233 1.6580 1.6930 1.7277 1.7627 1.7974 1.8324 USD/JPY 95.83 97.55 99.61 101.33 103.39 105.11 107.17 EUR/JPY 124.69 […]

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October 17
2008

Korean Won Recovers from Record Low

The South Korean won rose today against the U.S. dollar, after posting a largest drop in more than 10 years yesterday, as the financial markets showed growth in U.S. and Asia. The country’s central bank said that it will be working with the local banks directly to provide the needed foreign currency liquidity. Analysts believe that the Bank of Korea should guarantee the foreign debts […]

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October 16
2008

EUR/USD Slightly Down after a Series of U.S. Macroeconomic Releases

EUR/USD went down slightly today after several important macroeconomic reports were released in the United States. With the indicator values being more negative for the dollar, the decline of the EUR/USD currency pair was more probably caused by the growth of the risk-aversion among the Forex traders. Consumer price index remained unchanged in September after declining by 0.1% in August. It was expected […]

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October 16
2008

Malaysian Ringgit at 21-Month Low

The Malaysian ringgit declined to the lowest level in more than 21 months today as the concerns about the global economy growth rose and the stock markets tumbled world-wide. This Asian currency fell yesterday and continued to weaken today after the U.S. retail sales were reported with a biggest drop in the last 3 years yesterday. U.S. and European stock markets posted large […]

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October 15
2008

EUR/USD Down a Bit in Sideways Trend

EUR/USD went down slightly today after the bad fundamental data was released in U.S. The currency pair is still trading in a sideways daily trend that started on October 6. Dollar grows despite the poor macroeconomic statistics from U.S., because any bad market information is actually good for dollar in the time of crisis. EUR/USD is currently trading near 1.3613 level. NY Empire State Index that measures […]

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October 15
2008

Australian Dollar Falls on Stock and Oil Drop

The Australian dollar fell today against the Japanese yen after the U.S. stocks failed to demonstrate Monday’s growth and the Japanese Nikkei showed poor dynamics during the earlier Asian trading session. Despite the $3 trillion dollar liquidity injection planned by the global governments, equity and commodity markets fail to return to the stable growth. The concerns that the financial authorities are […]

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October 14
2008

My Expert Advisor Reaching Top 10 in Automated Trading Championship 2008

As I write this post, my MetaTrader expert advisor is at the 9th position of the Automated Trading Championship 2008. Even if it’s a temporary situation, that’s great success for me, considering that my ATC 2007 expert advisor wasn’t even profitable. Currently my championship account equity is at $28,953.88 — up from the initial $10,000 account size. The championship started on October 1st, so it’s only a 10th day of the competition and more than two months left before December […]

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October 14
2008

Yen Loses Ground after European Bailouts

The Japanese currency fell for a third day today after the the investors gained more confidence that the governments of the developed countries will bailout the troubled banks and will pour out liquidity into the financial markets as needed. Australian Prime Minister Kevin Rudd said that the government will spend more than $7 billion to the households to support spendings and […]

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October 13
2008

Bank Guarantees Help Euro to Rise

The European currency rose today at the highest rate in the last three weeks against the U.S. dollar after the European leaders pledged to guarantee bank borrowings. The euro rose with a pretty large gap from the Friday’s close level against the U.S. currency and rose a little during the trading session itself. Euro declined against the pound, which was spurred […]

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