mikeyjerou

The Little Book of Common sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns (Little Books. Big Profits) by John C. Bogle

my first book about markets I ever read, and very interesting. I have few grands in HSBC indice trackers (FTSE, Pacific, Japan, SP500 and British gilts) on iii platform

The Little Book of Currency Trading: How to Make Big Profits in the World of Forex (Little Books. Big Profits) by Kathy Lien

interesting book, easy to read

The Little Book of Commodity Investing (Little Book, Big Profits) by John F. Maudlin and John R. Stephenson

It was very easy to read and interesting book, and gave me a good view on commodity market, which fascinates me but I can't trade on it

The Little Book of Economics: How the Economy Works in the Real World (Little Books. Big Profits) by Mohamed El-Erian and Greg Ip

good to know things ;-)

Currency Trading for Dummies

book has lots of knowledge about forex but is very boring ;-)

Technical Analysis for Dummies

I am reading it now, seems to be interesting so far

The Bogleheads' Guide to Retirement Planning by John C. Bogle, Taylor Larimore, Mel Lindauer and Richard A. Ferri

Interesting book, but with focus on American realities, still worth to read

Trading in the Zone by Mark Douglas

The book is very interesting, and I learned a lot from it, but is a bit too long, after reading half of it it seems like author is repeating same thing over and over again, and the real meaning of the book could be written on few A4 pages, anyway I am glad I could read it

365 Ways to Live Cheap: Your Everyday Guide to Saving Money by Trent Hamm

good book about cheap living, but some of the ideas like how to make own washing powder seemed to be ******

The Simple Dollar: How One Man Wiped Out His Debts and Achieved the Life of His Dreams by Trent A. Hamm

same author but the book more interesting than the one above

Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets by Nassim Nicholas Taleb

I bought this book and was so disappointed with it that I got rid of it. It seemed for me like the main reason to write this book was to show off with oh, ah posh language, lost of words, no content. some people like it, I don't

Market Wizards: Interviews with Top Traders by Jack D. Schwager

good book with nice stories, but after reading half of it I had enough. The stories are different, but seem to be very similar. I stopped when I got to story of a guy that got some shares from his father on 13th birthday, and since then markets were all his life - a bit pathetic for me. I will probably come back to rest of stories, but this one was like reading about somebody's sad life

The Millionaire Next Door: The Surprising Secrets of America's Wealthy by Thomas J. Stanley Ph.D. and William D. Danko

this book changed the way I am looking at life. I know that having average life is better than living like a king, that I don't need to live in palace and drive expensive cars, that life is about something more than money

Trade Your Way to Financial Freedom by Van Tharp

a really good book, it is bit boring but has lot's of knowledge, and will read it again

Super Trader : Make Consistent Profits in Good and Bad Markets by Van K. Tharp

I am reading it now, really good book, that focuses on most important thing in trading - mentality

Jim Cramer's Real Money by James J. Cramer

It is waiting to be read, seems to be interesting

Whoops!: Why everyone owes everyone and no one can pay by John Lanchester

still waiting to be read, but also seems to be interesting

FXstreet.com (Barcelona) - The pair has lost some of the gains made in the previous session and sterling is now retreating by 0.63% against the greenback. The drop follows the release of a series of indicators of the US and UK economies. Wholesale inventories in the US outperformed forecasts, growing by 0.6% in April instead of 0.4%. The trade balance reached -50.6 billion dollars in April, dropping from the previous -52.62 billion.

On the other side of the Atlantic, the UK’s PPI - input and output – came out worse than expected, registering YoY growth rates of 0.1% and 2.8%, respectively.

The pair is currently trading at 1.5432, facing resistance at 1.5610 and 1.5692, according to Fxstreet.com pivot points on technical tools. On the downside, there is support at 1.5348 and 1.5266.

Forexpros - House prices in the U.K. rose broadly in line with market expectations in May, after falling sharply in April, industry data showed on Thursday.

In a report, the Halifax Bank of Scotland said its House Price Index rose by 0.5% in May, in line with market expectations.

April’s figure was revised to a 2.3% drop from a previously reported 2.4% decline.

House prices in the three months to May were 0.8% higher than in the preceding three months, the second successive increase in this measure of the underlying trend in prices following six consecutive falls between October 2011 and March 2012.

Commenting on the report, Halifax housing economist Martin Ellis said, " Whilst there has been a modest improvement in the trend for house prices recently, the current average U.K. price is very similar to the levels both a year ago and at the beginning of this year.”

“We expect this situation to continue with prices likely to still be around today's levels at the end of 2012 as the ongoing tough economic environment constrains housing demand,” Mr. Ellis added.

Following the release of that data, the pound was lower against the U.S. dollar, with GBP/USD shedding 0.38% to trade at 1.5437.

Meanwhile, European stock markets were mildly higher after the open. London’s FTSE 100 added 0.15%, the EURO STOXX 50 eased up 0.1%, France’s CAC 40 rose 0.2%, while Germany's DAX advanced 0.15%.

What kind of trader are you? and Why? :)

looks interesting :)

The spreads during the Asian sessions make scalping difficult.

I think it is better left to the London, and first half of the US session.

Source: Standard Chartered

"EUR-USD losses have accelerated recently but remain relatively modest year-to-date at around 4.38%. Such losses have been limited by three key factors: (1) continued efforts by the Federal Reserve to provide excess liquidity via „Operation Twist‟, (2)the recent weakening of US economic data, and (3) portfolio inflows and repatriation of foreign assets ahead of the EU bank recapitalisation deadline at the end of June. Our expectation, aside from any further escalation of the European debt crisis, is that these sources of support will have been significantly impaired come July" Callum Henderson and Thomas Costerg, Standard Chartered Global Research Analysts.

Although Forex is active 24/7, not every hour is suitable for scalping.

No scalper wants to sit in front of the monitor for numerous hours bored and disappointed with the “sleeping” price as it literally moves nowhere.

Scalpers hunt for volatile, liquid market. There are 4 major market sessions: London, New York, Sydney and Tokyo session. To trade effectively scalper needs to learn behavior of a chosen currency pair and define most active sessions, even particular hours for this pair to be able to catch good price mo

Although Forex is active 24/7, not every hour is suitable for scalping.

No scalper wants to sit in front of the monitor for numerous hours bored and disappointed with the “sleeping” price as it literally moves nowhere.

Scalpers hunt for volatile, liquid market. There are 4 major market sessions: London, New York, Sydney and Tokyo session. To trade effectively scalper needs to learn behavior of a chosen currency pair and define most active sessions, even particular hours for this pair to be able to catch good price moves.

The only way to trade with high leverage without risking blowing up an entire account in only 10-15 trades is by trading with a tight stop loss. Trading without stop loss will “kill” your investment in no time.

did you Black men are 19% more likely than the average American to monitor stocks and investments online

(Infographics: Insights into the Digital Lives of America’s Black Consumers | Nielsen Wire)

The greenback, measures by the US Dollar Index, is retracing early gains after climbing as high as 82.91 as the crisis in Spain is weighting on sentiment.

The dollar has recovered ground lost after the European Commission announced that the ESM could be used to recapitalize ailing banks, boosting the risk trends, although it later proved to be ephemeral.

All in all, same story as of late for the world’s reserve, as the euro zone crisis remains centre stage against a backdrop of rising borrowing costs in Spanish and Italian debt markets, banking system in Spain desperately waiting for any life-saver and pre-election poll results in Greece playing with traders’ mood.

At the moment: AUD -0.97%, EUR -0.49%, GBP -0.60%, NZD -0.62%, CAD +0.63% CHF +0.49% and JPY -0.70%. Wall St. is retreating 1.10% at 12,433 pts and S&P500 is down 1.16% at 1,314 pts. WTI is losing 2.69% at $88.28/bbl and Gold is down 0.88% at $1,540/oz

The index is advancing 0.49% at 82.89 as of writing, with the next resistance at 83.02, ahead of 83.33 and 83.67

On the flip side, support levels lie at 82.17 followed by 81.86 and then 81.59

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.

Nikkei is citing him saying new easing may not be necessary, domestic demand better than expected. Honda and Sony executives just blew a gasket.

FXstreet.com (San Francisco) - USD/CHF pushed above the 0.9600 mark Tuesday to reach a fresh multi-month high of 0.9636, a level not seen since 16 Feb 2011.

Most of Today’s major news has focused on rumors of a Chinese stimulus package, the Spanish banking sector, an earthquake in Italy and ongoing European uncertainty. In this environment the USD is broadly bid, as market sentiment is driven lower, helped by Egan Jones’ rating downgrade of Spain.

USD/CHF trades at 0.9612 ahead of the closing bell in New York, poised to record a 0.4% gain on the day. On the Swiss fundamental front, UBS's Consumption index for Apr improved to 1.41 from 1.20, but a disorganized breakup of the eurozone remains the single greatest threat to the Swiss economy. Resistance lies at 0.9773 (6 Feb high) while, immediate support is noted at 0.9575.

FXstreet.com (San Francisco) - After three weeks of steady declines in the New Zealand dollar, bulls emerged from the abyss last week to initiate broad-based NZD buying.

NZD buying was the theme of the day on Monday as well, with the NZD/USD having pushed back above the 0.7600 mark to touch a 4-day high of 0.7643 before slight retreat to close the North American session at 0.7610 vs. 0.7540 late Friday in New York.

Technically speaking, as Jamie Saettele, CMT, Sr. Technical Strategist at DailyFX observes, “the strong reaction off of the December low is textbook,” he says. Mr. Saettele suggests that the advance may persist (much like technicals in AUD/USD suggests) and NZD/USD may encounter selling interest near 0.7675 resistance. Support is noted at 0.7580. NZD/USD last trades at 0.7610 as the Asia-Pacific session gets underway.

Forexpros - The U.S. Dollar was higher against the Swiss Franc on Friday.

USD/CHF was trading at 0.9594, up 0.09% at time of writing.

The pair was likely to find support at 0.9368, Monday’s low, and resistance at 0.9606, today’s high.

Meanwhile, the U.S. Dollar was down against the Euro and up against the Japanese Yen, with EUR/USD gaining 0.01% to hit 1.2533 and USD/JPY rising 0.28% to hit 79.82.

FXstreet.com (Barcelona) - After trading overly bearish since the first ticks of May, the EUR/USD was given a strong boost last Friday, venturing on an aggressive upleg to end the week printing a sizeable bullish outside day. On Monday, after a move down towards 1.2725, the spot rate overshot the 1.2800 to currently levitate just around it.

Looking at last week's price action, Chirs Capre, suspects that recent EUR/USD appreciation was, as he notes, "a combination of the market being heavily oversold from selling off 13 of 14 days, but also possibly some predatory stop hunting with the market being massively short and having a very illiquid market to work with on Friday, thus making it an ideal day for a stop run."

Chris adds, "even though there was a strong density of buy orders from 1.2640 – 1.2750, we are suspecting any significant bounce to fade just north into the 1.2860 – 1.2900 sell zone. We simply feel the Euro is just too vulnerable from all sides and the market will be happy to sell any rallies, especially if any more bad news comes out. We will look to sell rallies into the 1.2860-1.2900 sell zone mentioned earlier so watch for price action triggers here."