Ramon Ramirez

can you share the email with us mate?

Greece is set to have a new coalition government according to ANA. New Democracy, PASOK and Democratic-Left will form the coalition and Antonis Samaras would be the Prime Minister.

 

Samaras, Venizelos and Kouvelis meet on Tuesday in the New Democracy headquarter as reported by Reuters, with the outcome being of 50% agreed, apparently. Parties will continue discussions at 1pm Greek time on Wednesday.

 

On the other hand, in a news published by CNBC, the European Union would have accepted to renegotiate with Greece the terms of the second financial bailout because the original has become outdated according to Eurozone official.

(fxstreet)

Hi, I got a question about forex: I have a decent sum of money that I want to throw at something that can make that sum bigger. The only thing is I want to set it up and then let it work on its own. Would forex trading with a robot be an efficient way of doing this? Do I throw my money at someone who does this for a living, even if they would get a cut? Thanks and sorry if this has been asked to death.

when we get a lot of profit, we would not need to be mentally prepared, but when we lose a lot of even the entire capital of course we must be mentally prepared to deal with it. some people will do it refreshing to forget the disaster and some may be prayed to God that strengthened the faith. How about you? What do you do?

I try to be a scalper, and it is the hardest thing I ever tried.

 

Hi Andys why you said it was the hardest? can you share some experiences? :) thanks...

Forexpros - Gold prices fell in Asian trading Wednesday as the market viewed a eurozone bailout fund approved for Spain to prop up its banks with increasing skepticism.

On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded down 0.24% at USD1,609.95 a troy ounce.

Gold hit at a low of USD1,608.85 a troy ounce and a high of USD1,613.55 a troy ounce during the session.

Gold futures were likely to test support at USD1,600.55 a troy ounce, the low of June 10, and resistance at USD1,618.65, the high from June 12.

Gold tends to trade inversely from the dollar, often tracking the euro and equities markets in recent months.

Early in Asian trading on Wednesday, the dollar dipped on residual talk the Federal Reserve may not rule out stimulating the economy via quantitative easing, which are bond buybacks from banks designed to jolt the economy and fuel jobs demand, with a weaker greenback as a side effect.

The euro was down on fears that a EUR100 billion bailout arranged by the eurozone for Spain to recapitalize its debts won't do enough to solve Spain's broader economic ills.

Gold rose and fell amid the conflicting data, before finally trading lower with the euro on sentiment that even if the Federal Reserve does move, the European debt crisis will continue to send investors moving to the safety of the U.S. dollar.

Elsewhere on the Comex, silver for July delivery was down 0.45% and trading at USD28.818 a troy ounce, while copper for July delivery was down 0.30% and trading at USD3.341 a pound.

So I have realised the way I trade is scalping...

 

I have spent weeks denying this, because it sounds so risky.

 

However I am able to make 20+ trades a day with 90% or so win rate.

My stop losses are dynamic and generally I am either right or wrong, and if I am wrong I exit with a 1 or 2 pip loss.

 

Sometimes I get greedy and once my stoploss is at breakeven Ill setup a trailing stoploss however still working on rules for that...

 

My main question is, are there professional scalpers and if so when did you realise scalping was for you?

FXstreet.com (Barcelona) - After climbing as high as 1.2522, the single currency has returned to trade back below the 1.2500 mark,, with increasing yields in Spanish debt markets and widening spreads in CDS weighting on sentiment.

The financial aid directed to the Spanish banking system has become just a memory by now, as market participants are closely watching the evolution of the bonds market and the Greek elections on Sunday are growing in importance.

EUR/USD is now up 0.22% at 1.2494, facing the next resistance at 1.2528 ahead of 1.2567 them 1.2610 and 1.2672

On the other hand, support levels lie at 1.2435 followed by 1.2426 then 1.2405 and 1.2386

looks interesting.. :)

A margin call is in fact a safeguard to protect a trader from losing 100% or even more of the money in the trading account. To owe additional funds to the broker is actually the worse case scenario. This uncomfortable position is largely avoided because of the existence of the margin call.

U.S. stocks rose on Friday, as investors bought stocks on hopes that Europe will work through its debt problems by financially assisting Spain.

The Dow Jones Industrial Average closed up 0.75% on Friday, the S&P 500 index was up 0.81% while the Nasdaq Composite index finished up 0.97%.

Spain appeared set to ask for assistance to recapitalize its banking sector, and while such news sparked demand for the greenback in foreign-exchange markets, stock markets enjoyed a risk-on session on sentiment that assistance for Spain will bring stability for the eurozone.

Spain has run under financial strain as it seeks to bolster its banking system, while talk regional Spanish governments will need help from Madrid to refinance their debts have also rattled markets lately.

Talk of a bailout fueled relief buying, especially on sentiment that the situation in Europe, the U.S. and in Asia hasn't been as bleak as once predicted.

Meanwhile, Federal Reserve Chairman Ben Bernanke on Thursday gave a rather muted response to lawmakers as to whether the U.S. economy requires monetary stimulus.

"The Federal Reserve remains prepared to take action as needed to protect the U.S. economy in the event that financial stresses escalate," Bernanke told the Joint Economic Committee, which gave investors little guidance but eventually brought in buyers on the notion that silence on the need for stimulus suggested the economy is showing some sign of recovery.

Meanwhile, low oil prices sparked demand for stocks as well.

Oil was trading around USD84.36 a barrel on Friday.

Lackluster data out of Europe's largest economy sent oil prices edging lower and also sent investors buying nicely priced U.S. equities.

In Germany, exports fell 1.7% in April, outpacing analyst’s expectations for a 0.7% decline, which reflects weak demand for products made in Europe's economic engine.

In Italy, industrial output in April contracted 1.9% from a revised 0.6% gain in March, far outpacing expectations for a contraction of 0.5%.

Italian industrial production dropped by an annual rate of 9.2% further fueling fears the European economy is battling major headwinds thanks to the debt crisis.

In the U.S., the Commerce Department reported the country's trade deficit narrowed 4.9% in April to USD50.1 billion compared with market forecasts for USD49.5 billion.

Leading Dow Jones Industrial Average gainers included Wal-Mart Stores, up 3.57%, JPMorgan Chase, up 2.59%, and Home Depot, up 2.11%.

Leading index losers included McDonald's, down 0.74%, Alcoa, down 0.35%, and Procter & Gamble, down 0.06%.

European indices, meanwhile, finished largely down.

After the close of European trade, the EURO STOXX 50 rose 0.04%, France's CAC 40 fell 0.63%, while Germany's DAX 30 finished down 0.22%. Meanwhile, in the U.K. the FTSE 100 closed down 0.23%.

There are two kinds of fear in this world: legitimate fear and illegitimate fear. Legitimate fear is the kind of fear that is based on the fact that there is real danger. Illegitimate fear is based on perceived danger when none actually exists. Illegitimate fear can also co-exist with legitimate fear.

Fear in trading is both legitimate and illegitimate. Illegitimate fear is any fear that is not based on fact. It is fear based on a misunderstanding of the facts, over- exaggeration of the facts, or misperception of what the facts are or are not. The most common source for illegitimate fear is lack of knowledge. Take, for example, my incident with ghost stories. A bunch of us college-age guys sat in a room over a morgue, in the dark, telling ghost and horror stories that we had read. We scared each other so badly that none of us could move until daylight. We were literally frozen in our tracks — I mean complete physical paralysis. It was one of the longest nights of my life. Deep down inside, I knew what we had done, but I allowed my emotions to override any rational thought — actually, any thought whatsoever.

It is amazing how similar fear in trading really can be. For example, have you ever been involved in a trade risking a few hundred dollars where, as soon as it started to go against you, your heart rate increased and your palms became sweaty? Why is that? It is only a few hundred bucks! If you aren't willing to risk a few hundred bucks, why are you trading? It isn't about the few hundred bucks, it is about over-exaggerating the situation. The emotions are given more attention than they deserve.

Conversely, there is a very real fear concerning the overall ultimate outcome of any trading venture. The statistics back this up. It is a battle to balance the fear involved with trading against the expectation of making profits. On a single trade, the fear should not exist. But the fear from the probability of long-term success is lingering in the background, and causes many traders to try to change those probabilities one trade at a time. In the process of trying to avoid failure, they bring it on faster.

The first step to overcoming fear is to determine which kind it is. Kids are fearful of many things until they learn to understand that the fear is unfounded. Knowledge is the best weapon to fight the negative affects of fear in your trading. The more you know, the more you understand, the less fear will have a negative affect on your trading.

The knowledge you need can be acquired by experience, mentoring, or both. Experience can be a hard teacher. Many traders and investors (in fact, most) lose money and are defeated long before they can acquire the necessary experience. If you are to become successful in the markets, it may be a lot easier to invest in yourself through proper mentoring than to quickly lose more money than it would ever cost to learn the tricks of the trade from an experienced trader.

One should never attempt to play with money he can't afford to lose.. This is because one becomes emotionally attached with the sum he cant loose and thus lands up making a chain of losses.

Taking help from a professional trader is probably one of the most useful forex trading tips you can get. Many traders attempt to learn how to trade forex on their own, and they end up getting lost in a sea of confusing and contradictory information, this causes “analysis-paralysis” and results in lost money and lost time.

One should never attempt to play with money he can't afford to lose.. This is because one becomes emotionally attached with the sum he cant loose and thus lands up making a chain of losses.

Do you trade using the Charts? :)

The USD tumbled vs. its main currency rivals on Friday, following the release of a worse than expected Non-Farm Payrolls figure which showed that the US only added 69K jobs in May. Analysts had been forecasting the figure to come in around 150K. Turning to this week, traders will want to monitor any US news, including Tuesday's ISM Non-Manufacturing PMI and Friday's Trade Balance figure. Any worse than expected data may lead to fears that the Fed will initiate a new round of quantitative easing, which could result in the dollar extending its recent losses.

(Source:forexyard)

Scalp-trading is very demanding and requires a lot of concentration, constant monitoring of the price and very quick decision making. Also, short time frames used in scalping strategies, require a good grasp of trading complemented with sound technical analysis skills. It is not a place where beginners feel very comfortable as it demands from traders a good chunk of experience.

Here's a chart of the average pip movement per session that may be useful

 

http://i45.tinypic.com/vqrzmf.png

 

 

Thank you :)

The European single currency is set to close the week down around 0.9% against the greenback, as EUR/USD hovers above the 1.2400 figure ahead of the closing bell this Friday in North America, poised to record its fifth consecutive week of losses.

EUR/USD managed to touch a new 23-month low as it trades a broad daily range between 1.2286 and 1.2454; at the time of writing, the pair is moving to the top of the range, last at 1.2435 vs. 1.2364 late Thursday.

Overall though, the USD remains strong as the global growth outlook deteriorates and uncertainty in Europe takes its toll on risk sentiment. As Volatility and uncertainty continues to rise, safe haven yields like German bonds have fallen to record levels.

“Until there is some relief to the uncertainty that surrounds Europe, financial markets are likely to continue removing exposure to Europe,” says Camilla Sutton, CFA, CMT, Chief Currency Strategist at Scotiabank. From a technically perspective, the outlook is bearish as an RSI of 18 pushes EUR/USD well into oversold territory, says Ms. Sutton; “but major signals [remain] in sell territory and [the] downward trend [is] strong. Ignore RSI.”

In the week ahead, more light may be shed on the possibility of the Fed to take more action in the way of QE3 after a disappointing May nonfarm payrolls report earlier today, which showed that the US economy only added 69k jobs on month and rose the unemployment rate to 8.2%.

Another thing to keep in mind is spread which brokers charge for different currencies.

The higher the spread the harder it will be to collect desired pips(because once trading position is opened, trader must cover spread cost – earn pips for broker first – and only then collect own pips).

And, of course, the lower the spread the easier/faster it is to accumulate pips.

It is wise to decide on the size of the trading lot and exposed risk in advance.

Do a simple math: calculate the worst possible situation, e.g. 10 consecutive losses in a row; then see if your account will survive and if there be something left to move on. And, although 10 losses in a row is a very unlikely scenario, you cannot deny it...

The only way to make small account big in a short period of time is through the use of really high leverage. But wait... do not jump of the cliff right away. Start with reasonable leverage for scalping, for example 20:1 or at most 50:1, then move on as you see scalping skills improve. But even before that do not be lazy to demo trade your scalping system – make sure it will not disappoint you later...

Forexpros - Gold futures came off the lowest levels of the day during U.S. morning trade on Wednesday, following disappointing data on U.S. pending home sales, though lingering fears that the euro zone’s debt crisis is deepening weighed on the precious metal.

On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at USD1,543.85 a troy ounce during early U.S. morning trade, shedding 0.45%.

It earlier fell by as much as 1.15% to trade at USD1,532.55 a troy ounce, the lowest since May 16, when prices fell to a 2012 low of USD1,526.95.

Gold futures were likely to find near-term support at USD1,526.95 a troy ounce, the low from May 16 and resistance at USD1,585.65, the high from May 28.

Gold prices found some support after the National Association of Realtors said its pending home sales index tumbled by 5.5% in April, confounding expectations for a modest 0.1% decline.

The downbeat data renewed expectations that the Federal Reserve could embark on a third round of monetary easing to boost growth in the world’s largest economy.

Gold investors will be closely watching U.S. data in the second quarter for clues as to the likelihood of a fresh round of monetary easing, which could potentially hurt the dollar and support gold.

But prices remained lower as the precious metal tracked movements in the euro. Gold tends to trade together with the euro, so any weakness in the single currency can lead investors to cash in their bullion positions to realize a higher profit in their local currency.

In addition, European investors are also more likely to sell their gold when the euro depreciates against the dollar to earn a higher profit on their currency position by taking profit on their dollar-denominated bullion position.

The single currency came under pressure from concerns over the situation in Spain, where rising bond yields, the growing costs of bank rescues and a recession hit economy fuelled fears that Madrid will be forced to seek an international bailout.

The yield on Spanish 10-year bonds climbed to 6.7% earlier Wednesday, approaching the critical 7% threshold that preceded bailouts in Greece, Ireland and Portugal.

Jitters regarding Spain have worsened in recent sessions, after Bankia, the country’s fourth-largest lender, said last week it needed EUR19 billion in state aid to shield itself from bad loans.

Meanwhile, fears over a Greek exit from the euro zone reemerged after an opinion poll showed anti-austerity party Syriza in the lead ahead of the June 17 election.

The likelihood of Greece leaving the euro has been growing since early May, when anti-bailout political parties deprived pro-austerity parties of a majority at the polls.

Also Wednesday, Italy’s Treasury auctioned EUR5.73 billion of 5-and 10-year bonds in an auction which met with lackluster investor demand, while borrowing costs rose sharply, indicating that concerns over Spain and uncertainty over the outcome of elections in Greece next month are having a negative impact on Italy.

Some market participants noted that heavy losses in stocks and other commodities markets accelerated gold’s sell-off, as traders were forced to sell their gold holdings to raise cash to cover losses elsewhere.

In October 2008, gold prices tumbled 18% as turmoil in global financial markets led to losses in global equity and commodity markets. The precious metal rallied 23% in the next two months.

Gold futures had briefly cut losses after the European Commission said the euro zone must move towards a banking union, consider eurobonds as well as the direct recapitalization of banks from its permanent bailout fund to regain investor confidence.

Elsewhere on the Comex, silver for July delivery fell 0.55% to trade at USD27.63 a troy ounce, while copper for July delivery plunged 2% to trade at USD3.393 a pound.

yes, there is lot of forums you can get useful information one of them is forexforums.com and forexforum.asia