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Withdraw your winnings instantly with the new FX Debit card

FX brokers need to survive in the competitive FX industry, and to do this it has to constantly provide innovative and unparalleled products!

The Forex Debit Card is a step in the right direction!

Forex brokers are now offering their traders a branded debit card which offers a series of unique advantages.

The biggest advantage is that all payments are made faster and easier; especially withdrawals which have been a payment nightmare for a lot of FX brokers. Now traders can withdraw from their FX trading account at any time and from anywhere.

The other advantages of an FX branded debit card are that it can be used as any regular debit card; it is accepted globally at any ATM around the world.

The card can also be used for point-of-sale payments anywhere too, and most of them provide a free SMS notification of all transactions carried out.

Account balances can be checked online at any time, allowing easy management of your finances.

And naturally having a debit card attached to your FX trading account allows instant access to your profits, and the attractive thing is that you can withdraw them immediately: no fuss, no stress and more importantly no delay in withdrawals

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Avoiding Psychological Traps That Ruin Your Trading

Doing away with your own psychological traps can only establish you as a successful trader. Forex education can be beguiling. They are the sources for making money and lack realistic parameters. The forex education or the contents on markets that are cheap, meant for being talked. There is a belief that the market is random and no analysis can control the market.

The market is not random

The belief on the randomness of the market is silly. It is an illusion that the market is random. When you are unable to predict the market, you tend to blame it by calling it random. If we perform the Brownian Motion Experiment, which states that on knowing the speed, position along with the mass can help you detect the most correct position of the particles. The exact position and the timing of the movement of the particles can be predicted with this. This holds true even with the forex market. In the financial market, the price movements take place by the time and value of buying and selling transactions. If you can judge the motives of participants of the market then you can predict every move of the market. Markets are not at all random rather it is controlled by the buyers and sellers. Like a myriad it appears to be random on time frames which are smaller since you cannot properly predict the movements of the market. A technical analysis when the market is on the smaller time frame will only give you statistical edge. You can beat the market if you understand the technicalities that rule the market. It is easy to beat the speculative market with the help of strategies that helps in cutting short the losers and allowing the winning traders to function smoothly. Returns through the speculative market is comparatively more. It is a myth that the market is random.

Lack of faith: cause of fear among traders

Traders are afraid of trading thinking that the market is random, but it is not the market, which is random rather it is the trader’s mindset that invites undue fear. Psychological issues can make you think that the market is random. If you do not believe in yourself as a trader and dread the markets the better take a back seat and stop trading.

The way to self belief

If you want to stop thinking that the market is random and cannot be challenged then you are wrong. You can challenge the market both factually and spiritually. In order to beat the market factually frame a strategic trending the longer time frames along with using the shorter time frame when you enter. You must in this case, hold positions till the change of trend of the longer time frame takes place, whereas you should employ a tight stop loss on the initial entries. Trade the instruments that show powerful trends. Keep on testing this for some time and if you have reasonably built the strategy with no over curving fitted then things can turn in your favor.

Overcoming the fear of the market is necessary for successful trading. If you dread the market, ask yourself the reason behind it and try to solve it. Gaining self control by self belief and effective trading can confirm you a good trader.

http://www.commexfx.com/avoiding-psychological-traps-that-ruin-your-trading/

Forex Trading Mentor – What to Look For and Why You Need One?

You are not a born genius. You become a genius after coming in contact with someone who is more experienced and knowledgeable than you. Seeking advice and assistance will not bring down your image in any way. It will only bring progress and success to you. Mentorship is the process in which a healthy relationship is fostered between an experienced person and an amateur for the betterment of the latter. There are too many advantages of learning the trading tips from a mentor. Long term goals are realized at a quicker pace with the help of a mentor, saves time, more emphasis can be laid on the significant aspects of trade. In order to reap the benefits of a mentor, a good mentor has to be looked for.

Importance of a Mentor

The mentor functions in the long way to foster the realization of long term goals. A mentor will take you under his wing to train you. You will acquire the specific skill conveniently. Mentors usually acquire the trading skill through experience. This implies that they have already committed the trading mistakes in the past. Seeking the assistance of a mentor will help in avoiding those errors. In this way you can master the art of trading conveniently without any wastage of time.

Be a successful trader with the assistance of a mentor

As an amateur trader you will be able to avoid those trading mistakes that are generally committed. The intricacies and the tricks of forex trading can be learned from a person who has already witnessed rough and tough days in the trading career. This can transform your rocky way to success in trading into a smooth journey of comfort. Being an amateur trader, having a mentor is mandatory in order to avoid trading mistakes. Mentors have already mastered the trading strategy and can guide you through in your trading career. Quality information on trading, trading courses are usually welcomed by the people who lack proper insight into the intricacies of trading.

Qualities of a Mentor

The most important step is to look for a good mentor who possesses quint-essentials of a mentor. He should be credible, experienced, practicing what he actually preaches, offers endless support. A mentor is supposed to be dependable on whom the person can depend. He must be approachable and friendly as well. If you are seeking for a mentor look for such a person who helps you in gaining confidence in confidence is the key to success. He must teach you how to believe in the trading strategy that he/she is preaching. Your mentor should be a current trader and not a person who has left trading a long time back. The mentor should have practically no issues over discussing a trade over email. He must be able to answer your particular trade setups.

A mentor is a friend, philosopher, teacher and a guide of yours. He must be well equipped with the information on the market and must update you with regular market commentary.

http://www.commexfx.com/forex-trading-mentor-what-to-look-for-and-why-you-need-one/

Daily Outlook 19-09-2014

EUR USD

The EUR rose 0.63% against the USD and closed at 1.2918.

Yesterday, the ECB in its first of eight Targeted Long Term Refinancing Operations (TLTROs) to be carried out between 2014 and 2016, allocated €82.6 billion to 255 counterparties at a fixed interest rate of 0.15%, less than market consensus for an allotment of €150.0 billion.

In the US, number of initial jobless claims registered a drop to 280K in the week ended 13 September 2014, marking its lowest level since July, beating market expectations to drop to a level of 305K and compared to a revised reading of 316K in the prior week.

The pair is expected to find support at 1.287, and a fall through could take it to the next support level of 1.2823. The pair is expected to find its first resistance at 1.2948, and a rise through could take it to the next resistance level of 1.2979. Going forward, investors would look forward to the release of the CB Leading Indicator from the US.

GBP USD

the GBP rose 1.13% against the USD and closed at 1.6434, after the UK retail sales advanced 0.4%, on a monthly basis, in August, exceeding market expectations for a gain of 0.3%.

The pair is expected to find support at 1.6318, and a fall through could take it to the next support level of 1.6153. The pair is expected to find its first resistance at 1.6587, and a rise through could take it to the next resistance level of 1.6691. Going forward, the outcome of a highly awaited voting result on the Scottish independence would keep the investors on their toes.

USD JPY

The USD strengthened 0.15% against the JPY and closed at 108.74.

the BoJ Governor, Haruhiko Kuroda, stated that despite recent economic data revealing weak industrial production and exports in Japan, but he continues to remain upbeat on the recovery of nation’s exports, citing improvements in the world economy.

The pair is expected to find support at 108.61, and a fall through could take it to the next support level of 108.06. The pair is expected to find its first resistance at 109.6, and a rise through could take it to the next resistance level of 110.03. Trading trends in the Yen today would be determined by Japan’s coincident and leading indices revealing the economic health of the nation, scheduled to release in a few hours.

USD CHF

the USD declined 0.90% against the CHF and closed at 0.9344. The Swiss Franc gained ground after the SNB kept its benchmark interest rates unchanged at 0%, in line with market expectations in September. The central bank, further cautioned that Switzerland’s economic outlook has deteriorated considerably and trimmed its domestic growth forecast for 2014 to 1.5% from 2% and kept its inflation forecast steady at 0.1%.

The pair is expected to find support at 0.9309, and a fall through could take it to the next support level of 0.9275. The pair is expected to find its first resistance at 0.94, and a rise through could take it to the next resistance level of 0.9457. Amid a lack of domestic economic data, investors would keenly await SNB’s Q3 Bulletin, due on Wednesday, to get more insights on the Swiss economy.

GЕОРОLІTІСS АND THЕ FОRЕХ МАRKЕT

Ѕоmе sеrіоus nеgаtіvе gеороlіtісаl еvеnts hаvе bееn іnfluеnсіng mаrkеts durіng thе раst fеw wееks аnd mоnths аnd gеороlіtісs іs fаst bесоmіng а fасtоr thаt іnvеstоrs must рау сlоsе аttеntіоn tо.

Тhе сrіsіs іn Ukrаіnе hаs рrоvеd а fосаl роіnt durіng 2014, аs mаrkеts gуrаtе frоm unеаsе tо саlm оvеr еvеnts suсh аs thе аnnехаtіоn оf Сrіmеа bу Russіа, thе fіghtіng іn Еаstеrn Ukrаіnе, thе wіthdrаwаl оf Russіаn trоорs frоm thе bоrdеr bеtwееn Russіа аnd Ukrаіnе аnd sаnсtіоns іmроsеd bу Еurоре аnd thе UЅ аgаіnst Russіа. Тhе lаtеst еріsоdе wаs thе сrаsh оf thе Маlауsіаn Аіrlіnеs аіrрlаnе flуіng оvеr Еаstеrn Ukrаіnе fоr rеаsоns nоt уеt vеrіfіеd – оn thе sаmе dау thаt nеw sаnсtіоns hаd bееn рrеvіоuslу аnnоunсеd аgаіnst Russіа bу thе Unіtеd Ѕtаtеs. Тhе рrо-Russіаn rеbеls аrе susресtеd оf dоwnіng thе рlаnе usіng аn аntі-аіrсrаft mіssіlе, аlthоugh Russіа аnd thе rеbеls dеnу thіs.

Тhеrе іs sресulаtіоn thаt thе Маlауsіаn Аіrlіnеs dіsаstеr wіll іntеnsіfу thе іntеrnаtіоnаl рrеssurе оn Russіа tо stау аwау frоm Ukrаіnіаn аffаіrs аnd thаt thе whоlе еріsоdе mау lеаd tо аddіtіоnаl sаnсtіоns. Еurоре hаs sо fаr bееn rеluсtаnt tо рrеss tоо hаrd аgаіnst Russіа bесаusе оf strоng еnеrgу, trаdе аnd fіnаnсіаl lіnks. Тhе іnstаbіlіtу сrеаtеd bу thе Ukrаіnіаn сrіsіs аnd thе сhіllіng оf rеlаtіоns bеtwееn Russіа аnd thе Wеst соuld bе а nеgаtіvе fасtоr fоr thе strugglіng Еurореаn есоnоmу аnd соuld thеrеfоrе rеsult іn рrеssurе оn thе еurо. Gеrmаnу іn раrtісulаr hаs а sіgnіfісаnt есоnоmіс rеlаtіоnshір wіth Russіа.

Іn аddіtіоn, thе еurо соuld suffеr іf thе сrіsіs wоrsеns sіnсе thе оthеr mајоr сurrеnсіеs оf thе уеn аnd thе UЅ dоllаr аrе sееn аs sаfе hаvеns іn tіmеs оf gеороlіtісаl trоublе оr durіng mаrkеt sеllоffs. Ѕо fаr thе еurо hаs nоt bееn sеrіоuslу аffесtеd bу thіs уеаr’s сrіsеs, but іf thеrе іs sіgnіfісаnt dеtеrіоrаtіоn, thіs соuld сhаngе.

Gеороlіtісаl tеnsіоns – еsресіаllу thоsе іnvоlvіng оіl рrоduсіng соuntrіеs – hаvе thе роtеntіаl tо рush оіl рrісеs hіghеr. Аs thе сhаrt shоws, thе рrісе оf оіl hаs fасеd sоmе vоlаtіlіtу durіng 2014, аs thе сrіsіs іn Ukrаіnе but аlsо thе turmоіl іn thе Міddlе Еаst (раrtісulаrlу Іrаq), іnfluеnсеd trаdіng.

Gеороlіtісаl dеvеlорmеnts аlsо hаvе thе роtеntіаl tо drіvе еquіtіеs lоwеr, аs gеороlіtісаl unсеrtаіntу саn hаvе аn іmрасt оn соnfіdеnсе аnd hеnсе glоbаl есоnоmіс grоwth аnd trаdе. Ѕtосk іndісеs fоr ехаmрlе fеll shаrрlу оn thе аftеrmаth оf thе rесеnt Маlауsіаn Аіrlіnеs сrаsh but subsеquеntlу rесоvеrеd оn hореs thаt thе sріllоvеr frоm thе еvеnt wоuld bе соntаіnеd.

То sum uр, аlthоugh gеороlіtісаl еvеnts hаvе bееn аn іmроrtаnt іnfluеnсе оn trаdіng durіng 2014, thеу арреаr tо hаvе nоt hаd а lаstіng іmрасt. Тhіs іs bесаusе thе еvеnts sо fаr wеrе јudgеd tо hаvе аn іmрасt thаt wаs mаіnlу соntаіnеd tо thе соuntrіеs іmmеdіаtеlу іnvоlvеd (е.g. Ukrаіnе, Russіа) аnd nоt tо thе wіdеr glоbаl есоnоmу. Ноwеvеr, thе rесеnt раst іs nоt nесеssаrіlу аlwауs thе bеst іndісаtоr оf thе futurе аnd іnvеstоrs wіll kеер а сlоsе еуе оn gеороlіtісs аnd аssеss thеіr роlіtісаl аnd есоnоmіс іmрасt.

http://www.commexfx.com/gЕОРОlІtІСs-Аnd-thЕ-fОrЕХ-МАrkЕt/

РRІСЕ АСTІОN FОRЕХ SUРРLУ АND DЕMАND

Оnе оf thе mоst dіffісult аsресts оf lеаrnіng tо trаdе іs fіndіng whісh sуstеms, strаtеgіеs, оr іndісаtоrs mіght wоrk bеst gіvеn уоur реrsоnаl gоаls іn thе mаrkеt. Ѕurеlу, thеrе аrе quіtе а fеw сhоісеs оut thеrе аnd thеrе аrе numеrоus dіffеrеnt wауs оf gоіng аbоut sресulаtіоn іn а mаrkеt; mаkіng thіs ‘јоurnеу’ tо fіnd а реrsоnаlіzеd аррrоасh еvеn mоrе dіffісult.

Furthеr ехасеrbаtіng thіs іssuе іs thе tоріс оf ‘lаg,’ оr thе fасt thаt аnу tесhnісаl іndісаtоr thаt іs usеd (оr аnу strаtеgу bаsеd аrоund tесhnісаl іndісаtоrs) wіll bе dеlауеd іn іts rеsроnsеs. Тhе rеаsоn fоr thіs іs sіmрlе: То сrеаtе аn іndісаtоr, а sеrіеs оf раst рrісеs аrе usеd tо соmрutе іts vаluеs whісh сrеаtе а tуре оf ‘аvеrаgіng’ еffесt. Тhіs саn bе gооd іn thе fасt thаt іt саn hеlр tо smооth оut vоlаtіlе еvеnts (аftеr аll, thіs іs whу реорlе usе mоvіng аvеrаgеs іn thе fіrst рlасе), but іt саn bе bаd bесаusе thіs аvеrаgіng еffесt (whеthеr іt’s wіth а mоvіng аvеrаgе оr RЅІ) іntrоduсеs dеlауs аnd lаg tо thе trаdеr.

Тhіs іs whеrе рrісе асtіоn саn hеlр. Рrісе асtіоn іs thе studу оf рrісе аnd рrісе аlоnе іn а mаrkеt, wіth nо іndісаtоrs rеquіrеd. Wіth рrісе асtіоn, trаdеrs саn lооk tо grаdе trеnds аnd mаrkеt соndіtіоns, еntеr аnd trіggеr роsіtіоns, аnd mаnаgе thе rіsk оf thеіr trаdіng ореrаtіоns.

Іn thіs аrtісlе, wе’rе gоіng tо ехаmіnе thе mоst bаsіс рrеmіsе thаt аllоws рrісе асtіоn tо wоrk: Ѕuррlу аnd Dеmаnd. Оvеr thе nехt sеvеn fоllоw-uр аrtісlеs, wе’rе gоіng tо dіg dеереr іntо рrісе асtіоn wіth bоth аnаlуsіs аnd strаtеgу ріесеs. Іf уоu’d lіkе tо bе nоtіfіеd uроn thе аvаіlаbіlіtу оf thеsе аrtісlеs

Тhе Моst Ваsіс Rеlаtіоnshір іn Маrkеts: Ѕuррlу аnd Dеmаnd

Оnе оf thе bеst аsресts оf рrісе асtіоn іs thаt іt оffеrs trаdеrs а сlеаn dерісtіоn оf suррlу аnd dеmаnd аt аnу оnе роіnt іn а mаrkеt. Аs mеntіоnеd аbоvе, thе lаg іntrоduсеd bу іndісаtоrs саn сrеаtе dіssоnаnсе іn а numbеr оf wауs, lеаst оf whісh іs аllоwіng thіs ‘аvеrаgіng’ еffесt tо оbsсurе thе rеlеvаnсу оf nеаr-tеrm рrісе mоvеmеnts.

Неrе’s аn ехаmрlе: Іmаgіnе thаt wе gо іntо а Νоn-Fаrm Рауrоlls rероrt аnd thе UЅDЈРY hаs bееn stuсk іn а tіght trаdіng rаngе fоr thе раst 5 mоnths. Ѕо mоvіng аvеrаgеs оn thе dаіlу, аnd thе wееklу сhаrt аrе bоth mоvіng flаt tо rеflесt thіs lасk оf vеrtісаl mоvеmеnt оn thе сhаrt. Вut whеn ΝFР іs rеlеаsеd, wе rесеіvе а ‘blоw оut’ fіgurе thаt fаr есlірsеs еvеn thе mоst bullіsh аnаlуst ехресtаtіоns.

Оnсе ΝFР іs rеlеаsеd аnd рrісеs sріkе, dо wе stіll tаkе іntо ассоunt thе rеlеvаnсу оf thе mоvіng аvеrаgе vаluеs? Весаusе surеlу thе реrіоds usеd іn thе саlсulаtіоn оf thаt mоvіng аvеrаgе bеfоrе thе ΝFР рrіnt аrе quіtе а bіt lеss rеlеvаnt thаn thе реrіоds sіnсе, gіvеn thаt thеrе іs nоw nеw іnfоrmаtіоn thаt саn сrеаtе аddіtіоnаl suррlу оr dеmаnd (аnd thеrеbу сrеаtе аddіtіоnаl рrісе mоvеmеnts).

Ѕuррlу аnd dеmаnd іs аt thе соrе оf рrісе асtіоn.

Іf thеrе іs mоrе dеmаnd thаn suррlу – рrісеs wіll gо uр. Тhіs іsn’t јust FХ оr fіnаnсіаl mаrkеts оr соmmоdіtіеs: Тhіs іs аll-аrоund us іn thе wоrld wе lіvе іn.

http://www.commexfx.com/РrІСЕ-АСtІОn-fОrЕХ-suРРlУ-Аnd-dЕmАnd/

ΚNОW АBОUT ОNLІNЕ АND РHУSІСАL GОLD ТRАDІNG

shutterstock 120048376 ΚNОW АBОUT ОNLІNЕ АND РHУSІСАL GОLD ТRАDІNG

Іf уоu аrе іntеrеstеd іn stаrtіng а busіnеss оn trаdіng, gоld trаdіng іs оnе оf thе bеst орtіоns аvаіlаblе fоr уоu. Тhеrе аrе mаnу rеаsоns fоr уоu tо thіnk оf trаdіng thіs рrесіоus mеtаl. Оnе оf thе strоngеst rеаsоns іs thаt іts рrісеs nеvеr соmе dоwn оn thе lоngеr tеrm. Аnоthеr іs thаt іt іs nоt а реrіshаblе соmmоdіtу thаt уоu nееd tо dіsроsе оf уоur еаrlіеst whеthеr оr nоt уоu gеt рrоfіts. Аlsо, уоu nеvеr nееd tо hаvе аn іn dерth knоwlеdgе оn thе соmmоdіtу. Yоu оnlу nееd tо knоw іts раttеrn оf рrісе fluсtuаtіоn.

Whеn іt соmеs tо trаdіng gоld уоu hаvе twо орtіоns. Іf уоu wаnt tо dо іt іn thе trаdіtіоnаl wау, уоu nееd а bіg саріtаl аnd іt іs nесеssаrу fоr уоu tо vіsіt рlасеs whеrе уоu соuld рurсhаsе уоur gоld іn оrdеr tо mаkе уоur рurсhаsе. Іt іs аlsо nесеssаrу fоr уоu tо hаvе sоmе аrrаngеmеnt tо sеll. Еіthеr уоu nееd tо mееt уоur сustоmеrs аnd sеll thеm оr іt іs nесеssаrу fоr уоu tо hаvе а shор whеrе уоu sеll уоur gоld соіns оr gоld bаrs.

Іn саsе уоu dо уоur gоld trаdіng іn thе mоdеrn wау, уоu оnlу nееd vеrу lіttlе mоnеу аnd уоu соuld dо уоur trаdіng frоm hоmе. Іn оrdеr tо usе thіs mеthоd уоu nееd tо hаvе а соmрutеr wіth аn іntеrnеt соnnесtіоn аnd аlsо уоu nееd tо hаvе а gооd knоwlеdgе оn usіng thе соmрutеr fоr trаdіng. Yоu nееd tо usе thе tооls оffеrеd bу уоur fоrех brоkеr аnd іt аlsо іs nесеssаrу fоr уоu tо hаvе аn uр tо dаtе knоwlеdgе оn wоrld аffаіrs аnd thе есоnоmіс sіtuаtіоns оf соuntrіеs іmроrtаnt fоr trаdіng gоld.

Іn bоth tуреs оf gоld trаdіng thе mоst іmроrtаnt аsресt іs tо bе аwаrе оf рrісе fluсtuаtіоns оf gоld. Іt іs а must fоr уоu tо buу уоur gоld whеn thе рrісе іs lоw аnd sеll whеn thе рrісе gоеs hіgh. Іn саsе оf оnlіnе trаdіng уоur brоkеr wіll hеlр уоu wіth thе nесеssаrу іnfоrmаtіоn. Вut whеn уоu dо іt рhуsісаllу уоu nееd tо dереnd оn уоur оwn knоwlеdgе оn thе mаrkеt trеnds. Тhеrеfоrе, уоu nееd tо rеаd nеwsрареrs аnd mаgаzіnеs thаt рrоvіdе guіdаnсе оn thе рrісе fluсtuаtіоns оf gоld іn thе wоrld mаrkеts.

Іn саsе уоu аrе аblе tо fоllоw thеsе fеw tірs уоu аrе rеаdу tо еngаgе іn gоld trаdіng аnd еаrn vеrу gооd рrоfіts. Іf уоu hаvе mоnеу tо thrоw іn, сhооsе thе trаdіtіоnаl trаdіng. Іf уоu dоn’t hаvе mоnеу аnd hаvе thе knоwhоw, сhооsе оnlіnе trаdіng.

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Daily Outlook 17-09-2014

EUR/USD

The EUR rose 0.12% against the USD and closed at 1.2953, after the ZEW economic sentiment index in Germany, Euro-zone’s biggest economy, dropped lesser than expected to 6.9 this month.

Meanwhile, the Euro-zone’s economic sentiment further deteriorated to 14.2 in September, lower than market expectations of a drop to a level of 21.3. In the US, the producer price index registered a rise of 1.8%, on an annual basis, in August, in line with market expectations and compared to a rise of 1.7% in the prior month.

The pair is expected to find support at 1.2919, and a fall through could take it to the next support level of 1.2883. The pair is expected to find its first resistance at 1.2993, and a rise through could take it to the next resistance level of 1.3031. Trading trends in the Euro today are expected to be determined by the Euro-zone’s CPI data, scheduled in a few hours. Meanwhile, investors would keep a close eye on inflation data from the US before the Fed’s interest rate decision, scheduled later in the day.

GBP USD

the GBP rose 0.17% against the USD and closed at 1.6257, after the consumer prices in the UK rebounded strongly in August and registered a rise of 0.4%.

Additionally, the DCLG house price index in the nation rose to a 7-year high, increasing 11.7% on an annual basis in July, beating market expectations for a gain of 10.6%.

The pair is expected to find support at 1.6178, and a fall through could take it to the next support level of 1.6094. The pair is expected to find its first resistance at 1.6329, and a rise through could take it to the next resistance level of 1.6396. Investors would keenly await BoE’s minutes of the latest policy meeting as well as voting pattern of the MPC members, scheduled in a few hours.

USD/JPY

The USD traded marginally higher against the JPY and closed at 107.17.

The BoJ Governor, Haruhiko Kuroda, indicated that the Japanese economy continues to recover moderately and further added that central bank will continue with its quantitative and qualitative easing measures to attend the price stability target of 2.0% as expected.

Former Ministry of Finance official, Eisuke Sakakibara, commented that the Japanese Yen will fall, as wages lag behind inflation on account of higher import costs. The pair is expected to find support at 106.88, and a fall through could take it to the next support level of 106.57. The pair is expected to find its first resistance at 107.42, and a rise through could take it to the next resistance level of 107.66.

USD/CHF

The USD declined 0.27% against the CHF and closed at 0.9331.

The pair is expected to find support at 0.9297, and a fall through could take it to the next support level of 0.9266. The pair is expected to find its first resistance at 0.9362, and a rise through could take it to the next resistance level of 0.9396. Trading trends in the Swiss Franc today would be determined by the ZEW survey data, scheduled in a few hours.

Avoiding Potential Forex trading Robots fraud

Forex robot is considered to be the most famous software for designing a personal forex. Robots act as an expert adviser within the platforms for forex trading.you might be disappointed after purchasing a robot since it may not perform well as per your wish. The vendors might be a fraud who offered you a robot that is ineffective for your trading.

The process of selling the forex robot

The automated trading robot seller might be presenting the robot positively in order to reap more and more profits. Attractive pictures of money stacks, glowing testimonials may be displayed by seller of the automated software seller. Such robot sellers make strong claims about the profits that robots have reaped for the traders in the past. However the seller present that phase only when the robot showed a winning streak.

The disclaimer game played by the vendors of forex trading robots

The vendors might hide behind the various negative disclaimers. The disclaimers are used as an effective defense tool in order to wash their hands off from any king of liability of forex fraud. If the automated robot proves to be a failure, then the disclaimers will protect them. They make very clear through their statements that the robots might not give the traders the expected results. They do not give any assurance of profit to the buyer through disclaimers. The trading results that are back tested are worthless. You should not at all consider them.

The practices adopted by the vendors to cover up the losses

After the traders have lost a significant amount of money using the robot, the vendors in order to quieten the trader pays him a small amount of money as a refund. Through this the vendors cover up their exclusive hypes on robots that were made prior to the purchase. Always use ‘Clickbank’ for purchasing the robot for the refund may be avoided by the vendor altogether. This will avoid all the hassle associated to refunding in case the trader incurs loss in trading. Clickbank will certainly return the funds to the trader within the duration of 60 days itself. But then test the robot properly within the trial period of 60 days. This will help in avoiding the disappointments arising out of trade losses. Using Clickbank is the most secured way of purchasing a forex robot for there is no fear of losing the money that is invested in buying of the automated software.

It is a very thought provoking question that if the robot costs something around dollars, then why at all the bank paying the traders the amount invested in purchasing the robot after the trade loss has been incurred. These forex robots most of the times do not deliver the expected results or what was promised prior to the purchase of the robots. But on the other hand the disciplined traders make the most out of the same robots that were sold by the vendors. It is mainly the would-be-traders of the forex market who fall into the traps of the false promises of the vendors. Just avoid forex robots and learn to trade the price chart effectively.

http://www.commexfx.com/avoiding-potential-forex-trading-robots-fraud/

Daily Outlook 16-09-2014

EURUSD

The EUR declined 0.18% against the USD and closed at 1.2938, after the Euro-zone’s trade surplus narrowed to €12.2 billion in July,

Separately, the Organization for Economic Co-operation and Development (OECD) cut its growth forecasts for major developed economies. Additionally, it urged the ECB to come up with more aggressive measures to get rid of deflation risks prevailing in the single currency region.

In the US, industrial production unexpectedly fell 0.1% in August, registering its first decline since January, while manufacturing production also registered an unexpected drop of 0.4% in the same month, thus showing signs of uneven improvement in the US economy.

The pair is expected to find support at 1.2911, and a fall through could take it to the next support level of 1.2879. The pair is expected to find its first resistance at 1.2972, and a rise through could take it to the next resistance level of 1.3001. Trading trends in the Euro today are expected to be determined by the ZEW’s economic survey for Germany as well as for Euro-zone as a whole, scheduled in a few hours.

GBPUSD

The GBP fell 0.17% against the USD and closed at 1.6230, as uncertainty continues to loom over the Scottish independence referendum.

The pair is expected to find support at 1.6216, and a fall through could take it to the next support level of 1.6194. The pair is expected to find its first resistance at 1.6264, and a rise through could take it to the next resistance level of 1.629. Going forward, investors would keep a close eye on Britain’s crucial consumer price index (CPI) data, set for release in a few hours.

USDJPY

the USD weakened 0.14% against the JPY and closed at 107.15.

Early morning data indicated that, Japanese Tokyo condominium sales slid 49.1% on an annual basis in August, compared to a drop of 20.4% registered in the previous month.

The pair is expected to find support at 106.94, and a fall through could take it to the next support level of 106.78. The pair is expected to find its first resistance at 107.31, and a rise through could take it to the next resistance level of 107.53. Going forward, investors would look forward to the BoJ Governor, Haruhiko Kuroda’s speech scheduled shortly.

USDCHF

the USD rose 0.21% against the CHF and closed at 0.9356.

In economic news, the producer and import price index in Switzerland unexpectedly dropped 0.2% in August.

The pair is expected to find support at 0.9327, and a fall through could take it to the next support level of 0.9308. The pair is expected to find its first resistance at 0.937, and a rise through could take it to the next resistance level of 0.9394. Amid lack of economic releases from Switzerland today, trading trends in the Swiss Franc would depend upon news across various economies.

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How often Do Professional Forex Traders Actually Trade?

Amateur traders are in a constant dilemma about how often to trade. They cannot accept to trade less and commit the dire offense of trading frequently without the trading edge. This results in the substantial loss of money in the markets. They cannot acknowledge that trading less brings about consistent profits in the long term market. Those who interact too often with the market are labeled as market junkies. A professional and good traders are more bothered about risk management than the amateur traders. There are various factors why you should not be trading frequently:

1. The slope of over-trading is incredibly slippery

It is often said that prevention is much better than a cure. Restrict yourself from over trading in order to prevent yourself from crying over the split milk. There is no use regretting when you have lost a substantial amount of money as the consequence of over-trading. Avoid being a gambler by trading less frequently. Execute your edge flawlessly in the market and manage your risks well. The multi – day position is what needs to be focused on. Trading less will offer you a defense mechanism against slippery slope.

2. Trading frequency is directly connected to long term trading performance

Trading with discipline and precision pays in the long run. The trading strategies of forex have to be mastered so that the trading edge is made out as soon as you look at the price chart. Mastering this skill will make you laugh at the foolishness of the amateur traders who trade frequently. Professional traders are not meant to throw darts in the dark. Forex trading strategy is the best way of disciplining yourself and restricting you from over trading. It will ensure long term profits in trading.

3. Enjoy the down time by trading fewer

Traders meticulously following the trading strategies have immense scope of enjoying the patience and down time between the trades. The traders become comfortable with this over the passage of time. Traders do not feel the need for trading without the setup and the edge. A break from the market is necessary. It helps you to acquire confidence. This enables you to build positive trading habits. Positive results are inevitable if the art of risk management is mastered. Do not behave like amateur traders who trade frequently. This is the major trading error that immature traders commit.

If you are addicted towards the market and trading more, then be prepared to lose a substantial amount of money. In case you are stuck up with over-trading, then just trade off daily charts immediately. If you want to trade with precision, accuracy, then trade less. Make use of setting and forgetting the forex trading. This will ensure your minimal involvement with the market. There is an amount of risk involved with every trade so if you want to avoid those risks trade less. Make price action your strategy for trading. This will help

http://www.commexfx.com/how-often-do-professional-forex-traders-actually-trade/

Daily Outlook 12-09-2014

EUR USD

The EUR traded tad lower against the USD and closed at 1.2923.

the Euro-zone’s biggest economy, registered a flat CPI data, in line with market expectations, on a monthly basis in August.

Yesterday, the ECB, in its monthly report, reported that the policymakers would keep a close eye on the risks surrounding the outlook for inflation in the Euro. Furthermore, it reiterated that geopolitical tensions in Eastern Europe continued to weigh on the region’s economic growth

In the US, the number of initial jobless claims unexpectedly advanced to a level of 315K in the week ended 06 September 2014, higher than market expectations

The pair is expected to find support at 1.2891, and a fall through could take it to the next support level of 1.2866. The pair is expected to find its first resistance at 1.2947, and a rise through could take it to the next resistance level of 1.2978.

GBP USD

The GBP rose 0.31% against the USD and closed at 1.6258, after a new poll on Wednesday revealed that people in support of Scotland’s independence from the UK were declining.

The pair is expected to find support at 1.6186, and a fall through could take it to the next support level of 1.614. The pair is expected to find its first resistance at 1.6279, and a rise through could take it to the next resistance level of 1.6326.

Amid a light economic calendar in the UK ahead in the week, the investors would shift their attention to BoE’s minutes of the latest policy meeting, slated to release in the next week.

USD JPY

The USD strengthened 0.21% against the JPY and closed at 107.05.

Data released this morning indicated that, Japanese capacity utilization fell 0.8%, on a monthly basis in July, compared to a drop of 3.3% in the prior month, while the industrial production rose 0.4%, from a 3.4% fall registered in the same period.

The pair is expected to find support at 106.88, and a fall through could take it to the next support level of 106.41. The pair is expected to find its first resistance at 107.58, and a rise through could take it to the next resistance level of 107.81.

Going forward, investors would pay attention to the BoJ Governor speech, scheduled shortly.

USD CHF

The USD traded marginally lower against the CHF and closed at 0.9360.

The pair is expected to find support at 0.9342, and a fall through could take it to the next support level of 0.9319. The pair is expected to find its first resistance at 0.9383, and a rise through could take it to the next resistance level of 0.9401.

Investors would keenly await SNB’s interest rate decision, which will be announced in the next week.

Daily Outlook 11-09-2014

EUR USD

EUR/USD gained 16 points to trade at 1.2955 as traders continued to interpret the ECB moves and its assistance to the Eurozone economy. There is virtually no Eurozone or US data today so trader are looking for reasons to trade. Last week’s August payrolls report brought a major disappointment with employment growth slowing to 142 000.

EUR/USD remains neutral for the moment. Some more consolidation would be seen above 1.2859 temporary low. But upside of recovery should be limited by 1.3159 resistance and bring fall resumption. Below 1.2859 will extend recent fall to 1.2755 key support level.

GBP/USD

The GBP rose 0.62% against the USD and closed at 1.6208, after the BoE Governor, Mark Carney, testified at the August Inflation Report Hearings, that the UK is moving towards a rate hike.

Yesterday, the BoE’s Monetary Policy Committee member, David miles, stated that he expects more slack in the UK labour market and further indicated that there is less immediate need for a rise in interest rates.

Earlier today, the RICS house price balance in the UK dropped to 40% in August, against anticipations that the house price balance to fall to 47%.

The pair is expected to find support at 1.6088, and a fall through could take it to the next support level of 1.5981. The pair is expected to find its first resistance at 1.6267, and a rise through could take it to the next resistance level of 1.6339.

USD JPY

The USD strengthened 0.59% against the JPY and closed at 106.83.

The BSI of large manufacturing industries in Japan registered a rise of 12.7%

The pair is expected to find support at 106.35, and a fall through could take it to the next support level of 105.96. The pair is expected to find its first resistance at 107.02, and a rise through could take it to the next resistance level of 107.29.

Going forward, investors look forward to the release of Japan’s industrial production data, scheduled tomorrow.

USD CHF

The USD rose 0.38% against the CHF and closed at 0.9365.

The pair is expected to find support at 0.9324, and a fall through could take it to the next support level of 0.9282. The pair is expected to find its first resistance at 0.9403, and a rise through could take it to the next resistance level of 0.9440.

CommexFX attending the China Guangzhou International Investment and Finance Expo, 201

LinkedIn Cover Guangzhou expo CommexFX attending the China Guangzhou International Investment and Finance Expo, 2014After repeated successes at several international Expos, CommexFX is once again venturing into the international world market and attending the 2014 China Guangzhou International Investment and Finance Expo to be held between the 19th and 21st of September.

The largest financial exhibition in China is designed to allow interaction between exhibitors and clients so that great minds can come together to discuss the financial environment, products, technologies and Forex.

We look forward to attending the most anticipated event of the year which serves as an effective solution for exhibitors and clients who arrive at the event from around the world.

Through a series of activities and events, all in attendance will get the chance to interact with our representatives and ask any questions about our operations and services which we will gladly answer and discuss.

We open the doors for all our clients, both Chinese and international, to take this great opportunity and enhance their Forex and financial knowledge with the support of CommexFX.

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Forex Trading Money Management

Manage your money professionally. Implement on the money management plan. Mastering the skill or reward and risk will help you grow your small amounts of money into larger amounts. Unsuccessful traders are all guided by various myths that prevents them from making money in the markets:

1. Focus on the pips

Some traders concentrate on pips rather than dollars. All unsuccessful traders do this. It is often found that the traders who focus on pips become less emotional about their trading and they stop weighing their trades in monetary terms. But then trading is all about investing and making money. You need to evaluate the risks that you are taking. Trading is not a game. Trading is a business where each transaction needs to be treated like a business transaction. Every trade has risks as well as reward attached to it. Trading in terms of the number of pips you gain or you lose is completely baseless. Traders trade from varied positions. Risk must be defined in terms of dollars and not pips.

2. Risking meager amounts in every trade will increase your amount

This is the silliest logic. Some foolish traders believe that if they risk 1-2% on every trade then their accounts will grow. If you start trading with a very small amount and lose 4-5 trades in a series then your account will not grow. The amount you risk will appear very small in front of your losses in trade. % risk model has its own drawback. You can win all your trades in the beginning and might lose a series of trades. All your gains will be wiped out in this process. But then it has a flip side to it. It will check you from trading emotionally. So risking a small percentage on every trade will make you gains slower because it will take a long time to build up your amount if you risk less. If you risk less, you gain less and this is the logic.

3. Wider stop risks equals to risking more money.

Traders who believe that risks in trading will increase as a result of wider stop loss are not thorough with the concept of a forex position sizing. You should be able to adjust the position size in order to match up your risk size and stop loss placement. For stop the wider loss curtailloss curtails your position size. Adjust the position size for meeting the intended stop loss width. Widening the stop loss can reduce your trade amount significantly. If you believe in the fact that widening the stop loss will improve your trade amount then you do not understand the power of risk to reward as well as power sizing. The logic of risk to reward has immense power for the risk to reward builds the trading account consistently if you have effective edge and you know when that edge is present in the market.

A good trading habit can help you in the long run to build money. For this learn the art of money management. Learn the system of price action trading in order to successfully detect successfully when your edge is present in the market. Only then the system of risk and reward will be applied and you will be able to manage your money.

http://www.commexfx.com/forex-trading-money-management/

Daily Outlook 9-09-2014

EUR / USD

The EUR declined 0.43% against the USD and closed at 1.2898, as the Sentix investor confidence in the Euro-region deteriorated in September.

Yesterday, the ECB Executive Board Member, Sabine Lautenschlager, supported the recent decision of the ECB to cut its key interest rate, stating that it was necessary to prevent the risks of too low inflation and boost economic growth in the common currency bloc.

Separately, the IMF Chief, Christine Lagarde, suggested that the weakening of the Euro against the USD in the past few days is a positive sign for “recovery” in the single-currency bloc.

In the US, consumer credit climbed by $26.0 billion in July, higher than market expectations for a rise of $17.0 billion and compared to $18.8 billion in the previous month.

The pair is expected to find support at 1.2853, and a fall through could take it to the next support level of 1.2824. The pair is expected to find its first resistance at 1.2934, and a rise through could take it to the next resistance level of 1.2986.

Amid a light economic calendar in the Euro-zone as well as in the US, trading trends in the pair today would be determined by global news.

GBP/USD

The GBP fell 0.73% against the USD and closed at 1.6095, as house prices in the UK rose less than expected in August, raising concerns over the health of the housing market in the nation.

Economic data released this morning indicated that like-for-like retail sales in the UK rebounded sharply, increasing 1.3%, on an annual basis in August, higher than market expectations for a rise of 0.3% and compared to a 0.3% fall recorded in the previous month.

The pair is expected to find support at 1.6029, and a fall through could take it to the next support level of 1.5977. The pair is expected to find its first resistance at 1.6180, and a rise through could take it to the next resistance level of 1.6279.

Trading trends in the Pound today would be determined by the UK’s industrial and manufacturing data, scheduled for release in a few hours. Meanwhile, investors would keep a close eye on the BoE Governor, Mark Carney’s speech, as well as the NIESR’s crucial GDP estimate for the UK, scheduled later today.

USD/JPY

The USD strengthened 0.75% against the JPY and closed at 106.00.

Earlier today, the minutes of the BoJ’s latest monetary policy held in August indicated that policymakers are optimistic about Japan’s economic recovery and expect inflation to rise gradually.

The pair is expected to find support at 105.4, and a fall through could take it to the next support level of 104.57. The pair is expected to find its first resistance at 106.67, and a rise through could take it to the next resistance level of 107.12.

Trading trends in the Yen today would be determined by Japan’s consumer confidence index as well as machine tool orders data, scheduled shortly.

USD CHF

The USD rose 0.45% against the CHF and closed at 0.9353. The Swiss Franc came under pressure, after retail sales in Switzerland fell unexpectedly at an annualized rate of 0.6% in July.

Meanwhile, the seasonally adjusted Swiss unemployment rate rose 3.2% in August, in line with market expectations. It follows a similar increase registered in the previous month.

The pair is expected to find support at 0.9329, and a fall through could take it to the next support level of 0.9289. The pair is expected to find its first resistance at 0.939, and a rise through could take it to the next resistance level of 0.9411.

Good morning! Mark Carney is Governor of the Bank of England and Chairman of the Monetary Policy Committee, Financial Policy Committee and the Board of the Prudential Regulation Authority. His speech today is expected to result in a high volatility.

http://www.commexfx.com/trading-tools/economic-calendar/

#economic #calendar #fx #forex #boc #uk

Do You Really Have What It Takes to be a Forex Trader

Do you possess the skills and the abilities required to be a successful trader? Abilities need to be developed by an aspiring trader. A lot of discipline and perseverance are required for earning money in the markets. You need to learn the art of losing like a professional trader. If you are not prepared to lose money by trading, then trading is not meant for you and you are not fit to be a forex trader. Losing is the part of winning, but lose the amount of money that you are comfortable with. Now how you can attain that losing mark which you can bear? This has some special trick working behind it. Effective risk management is the key behind ensuring that losing amount you are comfortable with. In order to detect whether you are meant for trading or you are simply wasting your time in the markets the following aspects have to be considered:

1. Are you prepared to lose?

This is the one question you need to ask yourself. If you are prepared to lose, then the next thing that needs to be done is figure out the way to deal with those losses. You need to integrate the losses into the trading plan. Then again, you need to ask whether you know the art of risk management in order to make sure that you lose the amount you are comfortable losing. Manage your risks well and trade less frequently to pass for a forex trader.

2. Do you have the patience required for being a forex trader?

A successful forex trader wins over the temptation for trading by patience and discipline. Ponder over whether you have the patience or you lack it. Money should not be lost foolishly as it is a limited resource. Restrict yourself from over trading as it is hazardous for both professional and an amateur trader. Wait for your trading edge and favorable market situation. Wait for the trade setup that has been predefined in the trading plan.

3. Do you know the art of controlling your emotion?

If you are crying like a one-year-old baby after a trade loss then simply quit trading. Trading is not meant for the ones who are emotionally weak. Trading is not at all for those who are constantly wallowing and fluttering in the market without any good reason. If you cannot check your tears on losing then you should have better monitored your trading actions prior to trading. Trading is the test of self-control. Control your trading actions and stop being over emotional over a loss if you want to pass for a professional forex trader.

4. Have you mastered the trading strategy?

Not risking more is a healthy sign, but a little healthier is not overindulging in the market by mastering the trading strategy. Trading strategy, trading plan and trading journal must all be mastered to the fullest.

5. Are you a disciplined trader or a gambler?

If you’re trading in a disciplined and self restrictive manner, then trading is for you. Organization and discipline are indispensable part of good trading. Do not succumb to the temptations. Trade only when you have your edge. Some traders trade under compulsion and incur significant losses. To avoid this refer, to the price action plan and apply your trading strategies as well.

If you want to examine your effectiveness as an efficient trader then go for demo trading. This will give you a crystal clear idea of where you stand as a trader.

http://www.commexfx.com/do-you-really-have-what-it-takes-to-be-a-forex-trader/

Daily Outlook 5-09-2014

EUR USD

The EUR declined 1.63% against the USD and closed at 1.2936, following the ECB’s unexpected decision to cut its benchmark interest rates and loosen monetary policy even further.

The ECB lowered its main lending rate to 0.05%, a record low from 0.15% and announced a new economic stimulus program that would involve purchase of covered bonds and asset-backed securities in October.

The greenback received a boost from mostly healthy US economic data which continued to reinforce expectations that an interest rate hike may be implemented sooner-than-expected.

The pair is expected to find support at 1.2851, and a fall through could take it to the next support level of 1.2768. The pair is expected to find its first resistance at 1.3086, and a rise through could take it to the next resistance level of 1.3238.

Trading trends in the pair today are expected to be determined by the much critical 2Q GDP of the Euro-zone scheduled few hours from now, as well as unemployment rate and non-farm payrolls data from the US, slated to release later today

GBP USD

The GBP fell 0.87% against the USD and closed at 1.6320, after the BoE stuck to its current loose monetary policy, despite two policymakers voting for a rate hike at the last meeting.

The BoE’s Monetary Policy Committee kept the benchmark interest rates unchanged at a record low of 0.5%. It further maintained the total size of its bond portfolio untouched at £375 billion, following their September policy meeting.

The pair is expected to find support at 1.6243, and a fall through could take it to the next support level of 1.6176. The pair is expected to find its first resistance at 1.6422, and a rise through could take it to the next resistance level of 1.6534.

Going forward, investors would pay attention to inflation expectations from the BoE, scheduled to be released today.

USD/JPY

The USD strengthened 0.52% against the JPY and closed at 105.39 amid prospects of higher US interest rates after US economic data continued to be encouraging.

Early morning data indicated that, in Japan, foreign exchange reserves surplus expanded to $1278.0 billion in August, following a surplus of $1276.0 billion recorded in the previous month.

The pair is expected to find support at 104.82, and a fall through could take it to the next support level of 104.31. The pair is expected to find its first resistance at 105.79, and a rise through could take it to the next resistance level of 106.24.

Going forward, investors await the BoJ’s monthly survey, as well as the leading economic and coincident indices data, scheduled shortly.

USD/CHF

The USD rose 1.65% against the CHF and closed at 0.9327.

The pair is expected to find support at 0.922, and a fall through could take it to the next support level of 0.9116. The pair is expected to find its first resistance at 0.9382, and a rise through could take it to the next resistance level of 0.944.

Trading trends in the Swiss Franc today would be determined by Swiss Q2 industrial production, set for release in a few hours.

Rule the Market By Means Of Confident Trading Approach

Confidence is the key to success. The Foreign Exchange Market is a decentralized market that is meant for trading currencies. It is the Forex that determines the value of currencies. The magnetic power of money has driven the investors to invest in stock markets. Earning money through equities is not an easy task. Huge amounts of researches and oodles of discipline, patience and confidence are required. You need to have a comprehensive idea of the market. Looking at the volatility of a market, the investors are in a constant dilemma whether to invest or not. As a result of market volatility, the investors lose faith in the stock market and shut themselves off from stock markets. Ideal investors must know how to handle this volatility with confidence. The world of the stock market is a competitive market requiring far sightedness and years of research. People who are not confident cannot survive through the ups and downs of the marketing trends.

Reflecting on the winnings

For efficient trading you need to be confident. Efficient trading habits help to build up confidence. In a way confidence and perfect trading habits are directly proportional. Low level of confidence can cause a dent in one’s trading performance. Reflecting on one’s own winnings can make one a winner. A winning trade can be used as a tool to invite further wins. It is mandatory to reflect on one’s own wins . It is necessary to ponder on the factors that lead to the win. Important factors must be jotted down in a trading journal to record the trading policies that triggered the win. Trading techniques must be learned by heart and this is only possible when one trades with small amounts. Trading skill if acquired will make one confident in trading.

Progress from smaller amounts to bigger amounts

If you are a budding investor, you are supposed to trade with small amounts of money to acquire the trading skill. Only then will it be possible to trade with bigger amounts. Trading skills, if acquired, will enable you to gain confidence.

Failures are the pillars of success

Losing trades are the best teachers that teach the trading skills. Disappointment after a losing trade must never be an obstacle in the path of successful trading. A simple losing trade must not be mixed with major failure. It must lead one to a series of winning trades. To make this possible one must reflect on the reason behind the loss. Proper record of the losing trade must be maintained in the trading journal so that the mistakes do not get repeated in near future. This is the only through which minuses can be converted into positives.

Act like a Super trader

Believing is doing. If one is confident enough to achieve success, then no one can stop him/her from winning. Acting like a matured trader is important. Brooding over one’s losses and wins is an absolute passé. A trader must move away from his computer after winning and losing trades .

Read more > http://www.commexfx.com/rule-the-market-by-means-of-confident-trading-approach/

How professional traders need to think, in order to succeed?

Success in trading is a big mystery that needs to be unraveled. A professional trader knows how to be a successful trader for he thinks right. He knows what all should be made for success in trading. A professional trader is not driven by his impulses and acts in a matured way.

Professional Trading

A professional trader controls himself and not the market. He is not the chaser of trades and is very selective about trading. He is well versed with the art of trading strategies which he has himself mastered through experience. Professional traders are not reactive but they are anticipatory. They are advanced trade planners and have a preference for the markets they trade. The key levels are marked by them well and they wait in anticipation for the perfect signal. Professional traders are patient and well disciplined trade planners. They master the art of trading strategy and this equips them with the ability for anticipation and planning things out prior to trading. They are calmer, more balanced. Professional traders are not aggressive traders who would trade even at unfavorable times. They wait for the perfect moment to arrive and if that does not happen, they keep away from trading. Professional traders are not sentimental and emotional. They know the adverse effects of being emotional. Being overly-emotional is the gateway to disaster. In order to check their emotions they never ever exceed risk tolerance. They know very well how much loss they can bear. They are neither too happy with their wins nor too sad with losses. They know the fact that emotional upsurges are detrimental. They have all the conviction and confidence that is required for good trading.

Market Trends

A professional trader knows the market trends much more than an amateur. They can make educated guesses on what is going to happen in the market. Struggling traders generally involve themselves too much in their own trade by stops and targets. They frequently add to and reduce positions. Professional traders allow their trades to work things out for them. The fact is that the professional traders balance in their approach. They are manipulative, strive hard to master the trading strategies, examine their own trade moves. They are not driven by greed and their own impulses in any way. They do not allow the open trades to toy with their minds and emotions. They never exit before hitting the targets. They do not interfere with trade.

Trading Plans

Professional traders are largely successful since they are rational beings who think objectively. They are not driven by preset notions. They are good planners who plan everything prior to trading and execute their trading plans logically. They believe in themselves and have full faith in their judgments. Professional traders respect the market. They are more concerned about their risks than gains. This is what you need to cultivate within yourself as a successful trader. The victorious ones have healthy trading habits that result of proper planning and strategies. They are patient planners who plan everything beforehand. Professional traders have all the qualities of good traders. Effective management of money along with years of experience in trading make them successful traders.

http://www.commexfx.com/how-professional-traders-need-to-think-in-order-to-succeed/

Daily Outlook 4-09-2014

EURUSD

The EUR rose 0.13% against the USD and closed at 1.3151, following report about a possible cease-fire agreement between Russia and Ukraine. The service sector in Germany, Euro-zone’s biggest economy, further worsened , falling to 54.9 in August.

the services PMI in the Euro-zone dropped to 53.1 in August, down from a reading of 53.5 in July.

In the US, the new orders for factory goods jumped in July, pointing further signs of strength in the manufacturing sector. The factory orders rose 10.5% in July, marking its biggest one-month increase since 1992, following a 1.5% increase in the previous month.

Separately, the Fed, in its Beige Book survey, indicated that the US economy continued to expand at a “moderate to modest” pace over the summer, as all twelve Federal Reserve regions continued to expand.

The pair is expected to find support at 1.3126, and a fall through could take it to the next support level of 1.3104. The pair is expected to find its first resistance at 1.3165, and a rise through could take it to the next resistance level of 1.3182.

Trading trends in the Euro today would be determined by the much crucial interest rate decision by the ECB, scheduled later today. Meanwhile, investors would also keep a close eye on German factory orders, French unemployment rate and initial jobless claims data from the US, set for release in a few hours.

GBP USD

The GBP traded tad lower against the USD and closed at 1.6463.

The service sector activity in the UK expanded at the fastest pace in 10 months in August, pointing to a continued strong recovery in the sector. The services PMI in the nation jumped to 60.5 in August, from a reading of 59.1 registered in the previous month. Markets had expected the index to decline to 58.5.

The pair is expected to find support at 1.6432, and a fall through could take it to the next support level of 1.6406. The pair is expected to find its first resistance at 1.6491, and a rise through could take it to the next resistance level of 1.6524.

Trading trends in the Pound today are expected to be determined by the BoE’s crucial interest rate decision, scheduled later today.

USDJPY

The USD weakened 0.27% against the JPY and closed at 104.84.

This morning, the Bank of Japan (BoJ), kept its upbeat view about the nation’s economy, though it admitted that the effects of the April sales tax hike still prevails.

The pair is expected to find support at 104.63, and a fall through could take it to the next support level of 104.39. The pair is expected to find its first resistance at 105.23, and a rise through could take it to the next resistance level of 105.58.

Going forward, investors would keep a close on the BoJ’s monthly survey as well as the leading economic and coincident indices data, scheduled to release tomorrow.

USDCHF

The USD declined 0.16% against the CHF and closed at 0.9176.

The pair is expected to find support at 0.9167, and a fall through could take it to the next support level of 0.9157. The pair is expected to find its first resistance at 0.9195, and a rise through could take it to the next resistance level of 0.9213.

Amid lack of economic releases from Switzerland today, market participants would await Q2 Swiss industrial production, slated to release tomorrow.

Why Most Traders Fail In Forex Trading?

Making money through the equities is a pretty difficult task. Poor trading techniques, lack of confidence, patience and discipline can cause failure in the stock market. A trader is supposed to know the tricks of trading. Inefficient traders who lack foresight — risk all their money in one stock, without planning before investing. Planning is a must rule in the stock market. Complicated trading techniques and lack of planning will lead to the failure of the trader. Successful traders treat trading as their business and hence develop a plan.

Lazy Traders are sure to fail

Without substantial planning a trader is sure to fail. Few traders are too lazy to devise an effective trading plan. You need to do a little homework in order to come up with a functional plan. This requires a lot of effort and some traders are too lazy to do this. Lazy trading results in failure. For gaining success in the stock market, it is not just luck, but effort is also required. Overconfident, inefficient and lazy traders are always in a rush to try their luck — which results in disappointment.

Trading too much

The reason why most of the traders are plagued in Forex trading is that they are addicted to the stock market and invest too much. Greed is one of the seven vices that brings downfall. In an attempt to win more and more, greedy traders can lose a substantial amount of money. Good traders must not behave like gamblers — staking money in casinos. Trading in Forex is an art which is far superior than gambling at roulette.

Neglecting Demo trading

Demo trading is mandatory prior to real trading. Demo trading is just like stage rehearsals before a show. Overconfident, greedy and bad traders do not comprehend the importance of demo trading. Demo trading must be carried out for a substantial period of time in order to acquire a sound knowledge of market trends and trading techniques. All good traders bank upon demo trading. Demo trading gives you an idea about how you will perform in real trading. In 90% of the cases, it is found that one who is unable to make money in demo trading cannot make money in real trading either.

Use of complicated trading techniques

Complicated trading techniques will not land you anywhere. Trading methods have to be very comprehensive, easy to handle and functional. Trading strategies or systems need to be simple and effective. Easy trading techniques will bring big benefits in the long run. Successful traders master the art of disciplining — all by themselves. They are accountable and have a trading plan that is tangible. Simple strategies will surely bring consistent profits in the stock market.

Simplistic trading strategies will allow you to maintain simplicity in trading. Price action is the simplest trading technique that maintains simplicity in trading. Pondering over the complex strategies will only consume time without bringing any healthy profit. Trading with simplicity is an art which requires discipline, practice and patience. Trading off with simple prices will make one understand the economic scenario.

http://www.commexfx.com/why-most-traders-fail-in-forex-trading/

Daily Outlook 3-09-2014

EUR USD

The EUR traded marginally higher against the USD and closed at 1.3134.

In economic news, the PPI in the Euro-zone eased 0.1% in July, compared to a rise of 0.1% in the previous month. Elsewhere, In Spain, the number of unemployed people registered a rise of 8.1K in August, following a 29.8K decline in the prior month but lower than market expectations.

In the US, the manufacturing activity expanded in August at the fastest rate since March 2011.

The pair is expected to find support at 1.3117, and a fall through could take it to the next support level of 1.31. The pair is expected to find its first resistance at 1.3145, and a rise through could take it to the next resistance level of 1.3156.

Trading trends in the Euro today are expected to be determined by services PMI data from the Euro-zone and its various peripheries as well as Euro-zone’s retail sales data, set for release in a few hours.

GBP USD

The GBP fell 0.85% against the USD and closed at 1.6470.

In economic news, the UK construction PMI grew at its fastest pace in 7 months to a level of 64.0 in August, higher than market expectations.

The pair is expected to find support at 1.6423, and a fall through could take it to the next support level of 1.6378. The pair is expected to find its first resistance at 1.6553, and a rise through could take it to the next resistance level of 1.6638.

Trading trends in the Pound today are expected to be determined by services PMI data from the UK, scheduled in a few hours.

USD/JPY

The USD strengthened 0.77% against the JPY and closed at 105.12.

data indicated that the Japanese services sector slipped into contraction, as the nation’s services PMI dropped to 49.9 in August, down from a level of 50.4, registered in the prior month.

The pair is expected to find support at 104.8, and a fall through could take it to the next support level of 104.41. The pair is expected to find its first resistance at 105.44, and a rise through could take it to the next resistance level of 105.68.

USD/CHF

The USD traded lower against the CHF and closed at 0.9191.

The Switzerland’s economy stagnated on a quarterly basis in 2Q 2014, following an expansion of 0.5% in the previous quarter.

The pair is expected to find support at 0.9182, and a fall through could take it to the next support level of 0.9171. The pair is expected to find its first resistance at 0.9209, and a rise through could take it to the next resistance level of 0.9225.

Amid lack of economic releases from Switzerland today, investors would pay attention to economic news from other countries.