Something to read

I was thinking where to upload this news to ... because it is related to the brokers ... but it is really news because it came 3 hours ago only : ForexMinute.com Now Brings Current Forex Broker Reviews for Traders

Link to the reviews: Forex Brokers Reviews | Forex Reviews | Brokers Reviews

ForexMinute.com, world’s premier online Forex portal, now brings updated Forex broker reviews including Easy Forex, for the traders. Traders by using this information can carefully decide and approach the best and suitable Forex broker without any confusion. It will also help them in avoiding huge losses on the market.

The company was established in 2003 by the Forex industry experts. It offers web-based trading software to its clients while letting them trade in any language like English, French, Spanish, German, Polish, Vietnamese, Greek, Russian, Arabic or Chinese. Moreover, the trading platforms are downloadable, non-downloadable and mobile. Furthermore, it also allows users to trade commodities, currencies and world stocks during market hours.

It may be interesting for the traders who are trading USDJPY: Forex - USD/JPY weekly outlook: June 17 - 21 :



Monday, June 17
Japan is to release official data on tertiary industry activity, an important indicator of economic health. Australia is to produce a report on new motor vehicle sales, a leading indicator of consumer confidence.

Tuesday, June 18
The U.S. is to release official data on building permits, housing starts and consumer price inflation. Meanwhile, finance ministers and central bankers from the G8 group are to hold the second day of a two day summit in Northern Ireland.

Wednesday, June 19
Japan is to release official data on the trade balance, the difference in value between imports and exports. Later Wednesday, the Federal Reserve is to announce its federal funds rate and publish its rate statement. The statement is to be followed by a closely watched press conference with Chairman Ben Bernanke. The U.S. central bank is also to release its quarterly report on economic and inflation projections.

Thursday, June 20
The U.S. is to release the weekly government report on initial jobless claims, in addition to data on existing home sales and the Philly Fed manufacturing index.

Friday, June 21
BoJ Governor Haruhiko Kuroda is to speak; his comments will be closely watched for indications of the future direction of monetary policy.

Just for GBPUSD for the coming week: GBP/USD weekly outlook: June 17 - 21



Monday, June 17
The U.S. is to publish the Empire state manufacturing index.
Also Monday, finance ministers and central bankers from the G8 group are to hold the first day of a two day summit in Northern Ireland.

Tuesday, June 18
The U.K. is to release official data on consumer price inflation, which accounts for the majority of overall inflation. Meanwhile, BoE policymakers are to testify on the inflationary and economic outlook before the U.K. Treasury Committee.
The U.S. is to release official data on building permits, housing starts and consumer price inflation.
Meanwhile, finance ministers and central bankers from the G8 group are to hold the second day of a two day summit in Northern Ireland.

Wednesday, June 19
The BoE is to release the minutes of its latest policy meeting, which contain valuable insights into economic conditions from the bank’s perspective.
Later Wednesday, the Federal Reserve is to announce its federal funds rate and publish its rate statement. The statement is to be followed by a closely watched press conference with Chairman Ben Bernanke. The U.S. central bank is also to release its quarterly report on economic and inflation projections.

Thursday, June 20
The U.K. is to release official data on retail sales, the government measure of consumer spending, which accounts for the majority of overall economic activity, as well as private sector data on industrial order expectations.
The U.S. is to release the weekly government report on initial jobless claims, in addition to data on existing home sales and the Philly Fed manufacturing index.

Friday, June 21
The U.K. is to release official data on public sector net borrowing.

Just for EURUSD for the coming week: EUR/USD weekly outlook: June 17 - 21


Monday, June 17
The U.S. is to publish the Empire state manufacturing index.
Also Monday, finance ministers and central bankers from the G8 group are to hold the first day of a two day summit in Northern Ireland.

Tuesday, June 18
The ZEW Institute is to release its closely watched report on German economic sentiment, a leading indicator of economic health, as well as data on economic sentiment in the wider euro zone.
The U.S. is to release official data on building permits, housing starts and consumer price inflation.
Meanwhile, finance ministers and central bankers from the G8 group are to hold the second day of a two day summit in Northern Ireland.

Wednesday, June 19
The Federal Reserve is to announce its federal funds rate and publish its rate statement. The statement is to be followed by a closely watched press conference with Chairman Ben Bernanke. The U.S. central bank is also to release its quarterly report on economic and inflation projections.

Thursday, June 20
The euro zone is to release preliminary data on manufacturing and service sector activity. France and Germany are also to publish individual reports. In addition, Germany is to produce data on producer price inflation.
The U.S. is to release the weekly government report on initial jobless claims, in addition to data on existing home sales and the Philly Fed manufacturing index.

Can you 'get rich quick' from forex trading? :

Trading forex is a relatively new asset class for the general public and has only really become possible for most of us since the late 90's when many of us started getting the internet connected at home.

The bad news for many newbie traders is that just because they can, doesn't mean they should and unfortunately many find that out the hard way. They start trading with no education or experience and lose their cash - quick! These failed traders spread the word that "all traders lose money" and that "trading doesn't work". Just because it didn't work for them, obviously it doesn't work for anyone else right?

The reality of the matter is that trading is like any other profession, it takes practice, discipline, experience and hard work! And many people do succeed.

Out of interest - you may like to see this clip of a young chap called John Key making his living as a forex trader in his early years. Long before the 'Right Honourable' was added to his name.

:

This episode of current affairs show Close Up offers a fascinating portrait of 80s job du jour: foreign exchange dealer. The intrepid reporter heads into "the pit" (trading room) and chronicles the working life of a senior 'forex' dealer, 25-year-old squash-playing accountancy graduate, John Key. The "smiling assassin" (and future Prime Minister) is a now-familiar calm and earnest presence amongst the young cowboys playing for fortunes and Porsches in the heady pre-sharemarket crash world: "they're like addicts who eat, breathe and sleep foreign exchange dealing".

Celebrate Ben Bernanke, Buy A Few Dividend Stocks

Ben Bernanke, who deserves the Nobel prize for helping the U.S. to avoid a deep deflationary depression, cannot catch a break. First, he is demonized for for his quantitative easing program that naysayers predicted would sooner or later destroy the value of the American dollar, as well as the double whammy of creating an horrific hyper-inflation. Unrestrained QE, the magnificent addition of trillions in monetary reserves was supposed to climax with the end of the world.

Then, when the Fed chief is candid enough to send a warning that zero interest rates are not forever, he is charged with triggering a run on fixed income securities that meant paper losses for investors.

Bernanke at Fed ‘Longer Than He Wanted’: Obama

President Barack Obama said Federal Reserve Chairman Ben S. Bernanke has stayed in his post “longer than he wanted,” one of the clearest signals the central bank chief will leave when his current term expires next year.

“Ben Bernanke’s done an outstanding job,” Obama said in an interview with Charlie Rose that aired yesterday, when asked about nominating him for another term subject to Senate approval. “He’s already stayed a lot longer than he wanted or he was supposed to.”

Just something by the end of trading day :


Dollar – Whipping Boy of Fed Watchers

The price action in the FX market today is very similar to what we saw at the beginning of last week. The U.S. dollar is trading strongly against high beta currencies such as the GBP, AUD, NZD and CAD but is weaker against the EUR and CHF. The only outlier is USD/JPY, which extended gains into the North American session. While equity futures are basically unchanged the fact that the U.S. 10 year Treasury yield is closing in on 2.2% indicates that we have a segmented market right now with deleveraging resuming in the comm dollars. It is clear that there is more confusion than clarity on the Federal Reserve intentions because the latest market swings were triggered by articles from Fed watchers speculating on what Bernanke will say on Wednesday.

Meanwhile the euro is performing well this morning thanks to the rise in Eurozone and German investor sentiment. The ZEW survey for the region rose to 30.6 from 27.6 and while investors grew less optimistic about current conditions in Germany, their confidence in future conditions improved. With the European Central Bank taking additional steps to stimulate the economy, investors are looking for a stronger recovery. The strength of the euro contrasts with the weakness of sterling and aussie. UK consumer prices increased more than expected but the GBP was driven lower by EUR/GBP buying. The AUD is the worst performer, down almost 1% against the USD after the Reserve Bank of Australia minutes reminded everyone that the central bank is looking to ease again and their views have not changed because the currency weakened. In fact, they felt the exchange rate could depreciate further over time as the terms of trade declined and a decline in terms of trade is not positive for Australia’s economy.

Originally Posted by newdigital

How to start with Metatrader 5 : summary

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• A very good article to learn how to use this site.
• For a general overview of changements and improvements in MT5 plateform, read MetaTrader 5 - More Than You Can Imagine!
• Probably the biggest revolution is in management of trades : Orders, Positions and Deals in MetaTrader 5
• Vidéo : You can now change your stoploss/takeprofit by mouse directly on the chart.
• What is "trading on closed bar" ?
• About Signals : a mini-faq by newdigital, and some interesting information from his experience.
• Your first EA ? Do you know you can create automated trading without programming ?
• Metaquotes has too his own Cloud network to help optimize your trading strategy. You have also plenty possibilities to backtesting a strategy.
• Vidéo : How to change period (timeframe) of current chart ? MT5 have many more available timeframes. (another method to do it).
• You want to try manual trading, but you don't even an idea how ? A very good system to begin.
• If you are using Linux, it'is possible to use MT5, but with some limitations.
• Who Is Who in MQL5.community?
  

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  For developpers.
• If you want to begin to programming with MT5, here is good step-by-step guide.
• If you come from MQL4, this article is a must.
• A very good and easy to understand article about use of arrays.

Big news with MT5 is possibility to use OOP (Object Oriented Programming), specially we have now a Standard Library : great feature !

Market Condition Evaluation

story/thread was started from here/different thread

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Market condition

• the theory with examples (primary trend, secondary trend) - read staring from this post till this one
• Summary about market condition theory is on this post
• Practical examples about every market condition case by indicators: starting from this page till this one
• trendstrength_v2 indicator is here,
• AbsoluteStrength indicator is here
• AbsoluteStrengthMarket indicator is here to download.
• good feature in Metatrader 5: moving stop loss/take profit by mouse on the chart (video about howto)

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3 Stoch MaFibo trading system for M5 and M1 timeframe

• trading examples
• template to download
• explanation how to trade and more explanation here
• how to install
• 2stochm_v4 EA is on this post.

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PriceChannel ColorPar Ichi system.

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MaksiGen trading system

• indicator to download
• some explanation about the system in general how to use
• Trading examples with MT5 statement, more trading is here.

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Merrill's patterns are on this page.


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Divergence - how to use, explanation and where to read about.

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Scalp_net trading system

• template/indicators and how to use are on this comment.
• scalp_net_v132_tf EA is on this post with optimization results/settings for EURUSD M5 timeframe
• possible settings #1 for this EA for EURUSD M5 timeframe with backtesting results is on this post.

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MTF systems

• Maksigen MTF system

more to follow ...

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Ichimoku

• The theory of the signals
• Ichimoku alert indicator with arrows
• Ichimoku alert indicator improved : warning alert mode was fixed and autosettings feature was added

Just some more about metatrader 5 - All about Calendar tab and Macro Economic Events