Saturday, January 9, 2010

80% chance UK looses AAA credit rating

UK more at risk than ever of losing AAA rating, top investor Neil Woodford warns


Of prime concern is UK deficit and clear plans of handling the deficit, which if not addressed will likely lead to a downgrade and have an effect on forex markets.

Tuesday, January 5, 2010

eur/usd

unable to break into a bull mode. support down at 1.4280. I would say there's at least 70% chance that it test that level. Investors still on the shaky side to kickoff the new year and there should continue to be alot of questions in the 1st quarter after the worst recessionary period since the great depression. Question is have we seen the worst and that's what some investors are wondering - if there's going to be a second round our is the recovery underway. Without confirming data long term investors will stay on the cautious side, particularly with the data coming out of the US. Pending home sales index plunges 16%
Not a good way to start the economic calendar for the year.

Friday, January 1, 2010

tips to finding a forex broker

When searching for a forex broker it is important that your money is safe so you want a broker that is regulated / held responsible in some way for your money that is deposited and that you will get it back when requested. There are many other considerations when choosing the correct forex broker such as minimum deposit required, leverage, what pairs can be traded, the spread ie cost to execute a trade, deposit / withdrawal methods, ease of opening an account, time in business and reputation. Have a look at my broker comparison chart to help you choose. You might even want to change brokers. Make sure you understand their differences and even consider opening a forex demo account. Most have demo accounts you can trade on but of course you can't make any money that way but the good news is you can't loose any money either. But time is money so be sure you know what your looking for and seize the opportunity. Everyday there are opportunities to make or loose money if your not careful. Many times traders loose because of being under-capitalized so be sure you understand you know what your getting into and the capital requirements to trade these instruments. You don't want to get kicked out of a good long term trade because of being under-capitalized so try to use a smaller account like a mini forex or even micro forex account before trying to go into full lot sizes.