Thursday, October 28, 2010

Nasdaq In a Channel, Doubts about the Economy



Currently the Nasdaq100 is flirting with a 1hr uptrend line. The trendline is not correctly drawn to the laws of technical analysis but to show the zones in which NQ100 has traded in. Minus a few whipsaws the trendline has been very accurate. The top trendline has also shown the upside zones of this move. It has steadily traded in this range forming somewhat of a channel in the 1 hr timeframe.

This channel is off course within the upmove and can only be considered as a short term cycle at them moment. The interesting fact however is how many times these price areas have been abided by. At the same time I'm watching a special indicator which is basically a rolling pivot average. It is depicted by the thick yellow line on the chart. The red and blue lines that surround the pivot average are resistance and support lines. This move has been very tight according to my indicator. It has stayed within Resistance 1 (R1) and Support 1 (S1) and not reaching R2 or S2.

What that tells me is we have a market that is very unsure about itself. If you read the news it draws out further uncertainty. Doubts about the economy, doubts about bailouts, doubts about the strength of the dollar, doubts about employment, and doubts about the housing market. This market is filled with too many doubts. For that reason I want to be very cautious.

Current Position - None
Looking to short resistance and perhaps top
of channel but will watch other indicators to
make trade.

Saturday, October 23, 2010

Multi-Monitor Trading


A dream set up may not be as expensive as you think if you are creative.

Forex Trading can be much more enhanced with multi-monitor set-ups. Unfortunately buying a computer that is built for multi-monitors can be quite expensive. A cheap way of doing it is have a motherboard with extra PCI slots and search for cheap Video Card adapters on ebay. I have lots of video cards I've purchased on ebay that have duel monitor capability. Some of my cards were purchased used and some are new but they were all relatively cheap. I've paid as little as $10 for a video card and was able to easily add 2 more monitors to my system in a matter of 15 minutes. Not only that but monitors go like hot-cakes for under $100 on ebay. You can find mounts and stands there as well.

Make sure you get the right PCI card for you expansion. That is the most critical part. You might have PCI or PCI-E slots. Make sure you know the right type of slots are on your motherboard for expansion. Otherwise you will be wasting your money. Then just follow the manufactures directions to install the new video card into the PCI or PCI-E slot.

(For windows xp) After installing the card(s) just right click on your desktop and select settings. Now select the newly installed monitor (there should me more than one monitor identified) and check : "extend Windows desktop onto this monitor". There you have it. Now you have extra monitors. Just repeat the process for each monitor you set up. Make sure you always back up your registry before making any changes and then you can restore the last checkpoint.

To back up your registry. Click: start | help | Pick a task | undo changes to your computer with System Restore. Don't worry your not undoing any changes unless you select to. There's an option to create a restore point from a bullet list. You will select the bullet option to "create a restore point" and fill in the fields to make a new restore. I often do this to tweak my system to increase the security in case the tweak doesn't work. That way any registry changes that were made can be easily undone.

As Metatrader Chartist and Forex Trader we want to have our system tweaked out to give us a maximum advantage against our rivals. Multi-monitors and security tweaks give us more advantages to compete and protect our system in the competitive world of money and trading.

If you already have your monitors set up and want to have metatrader on each monitor there's no way to put an individual chart in each monitor window. But you can stretch the metatrader terminal across each screen by clicking on the re-size (the square box located on the upper right corner) and stretching the terminal so it goes across each screen. You have to click on a side and drag the edge to re-size it. You must not be in full screen to do it that's why you click on the re-size box once before resizing it to go across the other screens.

Wednesday, October 20, 2010

List Of Metatrader Brokers


Unsorted List of Popular Metatrader Brokers for trading Forex, CFD's, or commodities:
ACM
ActivTrades
Admiral Markets
Alpari
Ava FX
DeltaStock
FastBrokers
FIBOGroup
FXCM
FXOpen
FxPro
Forex-Metal
GCI
Global Futures
Hotspot FX
Interbank FX
LiteForex
MB Trading
Neuimex
OANDA
Prime4x
Windsor Brokers

Things to consider when selecting a metatrader broker:
Is there a demo to try first?
Are they a regulated broker?
What kind of reputation do they have?
Minimum account size?
What Funding and Withdrawing from account options do they have?
Spreads?
Type and variety of trading instruments traded (are cfd's, forex, commodities an option)?
What amount of leverage can you use?
Can you set stop losses and automate trade?
Is their customer and technical service good?
Do they have a reliable server with a minimum amount of downtime?
How long have they been established?

Conclusion:
When all is said and done there are many factors in selecting the right broker. One trader might want to have Paypal as a deposit and withdrawal option while another might want to use credit cards or a bank wire. Some traders are most concerned with spreads while others are more concerned about how fast an order is filled. Sometimes delays wipe out spreads so it's important to weigh the benefits with live trading performance.

Many traders like to have many trading instruments available to trade with other than forex (such as cfd's and commodities) so their not just stuck trading from a dozen or so choices. There are many options to consider when selecting a broker but the best thing you can do is open a demo and try them out. If your satisfied with their demo performance then you might consider adding some real money trade after doing some selective research.

Also try asking them these questions. If they seem irritated or can't provide adequate answers, find one more suitable. Chances are if their irritated before you sign on with them, they will be worse when you do and they have control of your money.


tip:
When loading metatrader demo for the first time all trading instruments might not be available. To make them available right click on the marketwatch window (you have to open it first) and select show all. After you have selected show all you should be able to see all the trading instruments that are available from that broker.

copyright 2010
http://forexindicators-metrader.blogspot.com/



List of Metatrader Oil Brokers:
ACM
ActivTrades
Alpari
DeltaStock
Easy-Forex
EXNESS

FastBrokers
FIBOGroup
Forex.com
Forex4you
Forex-Metal
FxCompany
FXcast
FXCM
FXOpen
FxPro
FX Solutions
GCI Financial
GOMarkets
Hotspot FX
IncoNeon
InstaForex
Interbank FX
LiteForex
MasterForex
MB Trading
PFG Forex
Prime4x
Real Trade
RoboForex
Tadawul FX
United World Capital
X-Trade Brokers


List of Metatrader Gold Brokers:


List of Metatrader CFD Brokers:



List of Metatrader Demo Account Brokers:

Bloomberg - Silver Fundamentals



Oct. 19 (Bloomberg) -- Silver exports from China, the world’s largest, may drop about 40 percent this year as domestic demand from industry and investors climbs, according to Beijing Antaike Information Development Co.

Shipments may decline from about 3,500 metric tons in 2009, said Feng Juncong, chief analyst at the state-owned Antaike, without providing a specific forecast. Customs data show exports plunged almost 60 percent to 970 tons in the first eight months. Cancellation of an export rebate in 2008 is also hurting shipments, she said.

Reduced exports may bolster prices that are trading near a 30-year high on speculation that governments worldwide will take further steps to stimulate their economies, weakening currencies and increasing demand for assets that are a store of value. China, the third-largest producer after Peru and Mexico, revoked export rebates in August 2008 to curb use of natural resources.

“There is huge demand in China this year and that has affected exports, which were already hurt after the tax rebate was abolished,” said Ng Cheng Thye, head of bullion at Standard Bank Asia. “The demand is coming from all areas, including jewelry, investment and fabrication and this has resulted in a physical market shortage in the Far East.”

The metal for immediate delivery touched $24.92 an ounce on Oct. 14, the highest price since September 1980, and traded at $24.2750 at 2:28 p.m. in Singapore. Industrial applications for silver, including electrical conductors and batteries, represent about half global demand.

Silver Rally

“China may sharply reduce its silver exports this year following the scrapping of the rebate and as domestic demand picked up amid expectations for higher inflation,” Feng said. This year’s 5,100-ton quota is unlikely to be fully used, she said.

Silver has rallied 44 percent this year, outperforming gold and copper. In the short term, prices will be between $20.50 and $25.50, GFMS Chairman Philip Klapwijk said on Oct. 16. “Silver is likely nearing a top now, and that it has more downside in the short term than upside,” he said. “But we remain bullish in the long term.”

China’s silver production, including mined, by-product output and recycled material, grew by an average 14.9 percent every year in the 20 years since 1990 to 10,348 tons in 2009, Feng said. Growth was mainly because of the fast-growing production of lead, zinc and copper, which generates silver as a by-product, Feng said.

Output Drops

The country’s silver output dropped 1.9 percent in the first eight months to 7,445 tons, she said. About 60 percent of China’s silver mined output is in the form of by-product of base metals, according to Antaike estimates.

An expected drop in lead and zinc concentrate supplies will affect domestic smelter production, weighing on China’s silver output growth, she added.

“There are Chinese investors now hoarding silver, along with other resources, amid anticipation of higher inflation,” Feng said. “China is short of resources so these investors believe the metals will be more valuable in the future.”

--Feiwen Rong. With reporting by Glenys Sim in Singapore and Xiao Yu in Xiamen. Editors: Richard Dobson, Jake Lloyd-Smith.

To contact Bloomberg News staff for this story: Feiwen Rong in Beijing at frong2@bloomberg.net

To contact the editor responsible for this story: Jim Poole at jpoole4@bloomberg.net

Tuesday, October 19, 2010

Today's After Market Analysis

Perhaps a bit of profit taking or a trend change? Alot of uncertainties have arisen in the marketplace. Recent rate hike by China shocked the market and in particular gold went down along with the commodity related currencies. A stronger yaun allows China to buy more resouces but it relies on low currency policies to support exports. In other news US earnings releases took center stage. IBM and Apple's report were seen as lackluster by the market but perhaps seemed worse with the surpirse move by China. Another uncertaintcy revolved around what Bernanke will do with his promise to stimulate the economy with QE.

Technically the dow broke below a rolling pivot of 11002 which gives temporary control to the bears while Support of 10908 has held up. Gold also broke below a rolling pivot of 1343 with support below at 1315. Technically speaking this could still be a wipsaw since support has not yet been violated. Brent however broke through it's 1st support of 82.40 and remains well below pivot of 82.45. A sell signal was generated by my trading system at 84.24 and later confirmed at 83.69 and is currently trading at 80.90 as I type this for a pretty nice profit.

Technical analysis was done on Metatrader 4.0 platform on live markets using an advanced trading system and custom indicators. Emphasis is on Forex, commodities, and equities outlook for trading purposes.

The UK will be releasing it's Bank of England Minutes report on Wednesday. It will provide some incite on the direction of the UK economy and the pound.

Why am I selling a trading system if it works?

If your looking for a great metatrader trading system look no further. In each of my charts is an option to purchase the system I personally use to do technical analysis. I'm not selling other peoples systems this is one I have made myself from doing my own research so I know the system very well. You may think why am I selling? Well along time ago when I first started trading I went bankrupt. My goal is to sell my trading system so I can work up to big lots, pay off my debts, and of course make a small profit. Personally I do want to sell my system. I would rather keep my tricks secrete. But until I get out of debt I have to sell a certain amount.

This article is highly recomended:

Why Stronger Euro Is Here to Stay by World Market Pulse

ACM Report - Strong earnings hold up market

The Aussie rallied and briefly broke through 0.9950 levels this morning after the RBA’s meeting minutes showed that the surprising hold at 4.50% from earlier this month had been ‘finely balanced.’ Unsurprisingly, the central bank went on to say that rates would need to be raised at some point in the future which helped the Aussie rally and has markets poised for a possible hike come November. AUDUSD cooled off as the extended Asian session unfolded and the US Dollar has performed in a rather mixed manner; the USDJPY has been ranging between 81.14-81.56, AUDUSD between 0.9844-0.9960 and EURUSD between 1.3897-1.4004 with the equities largely flat. During the US session we saw the Dollar weakening on the back of gains seen in the equity markets which were supported by strong earnings from company’s releasing their Q3 results. The results were enough to keep US stocks higher (Dow closed +0.73%) despite a weaker Industrial production reading from the US which showed a MoM drop to -0.2% from an expected 0.2% / 0.2% previous reading.

Monday, October 18, 2010

ACM Reports:

The US Dollar continued building on its positive closing from this past Friday, gaining against its major counterparts and keeping commodity & equity prices lower during the Asian session. Equities have been flat, with the Nikkei trading -0.02% lower but perhaps the brunt of the selling took place in EURUSD which was -69 points lower and GBPUSD which was -54 pips lower at the time of writing. The Dollar was supported by the hangover of Ben Bernanke’s speech from this past Friday in which the Fed chairman said he saw a case for further action and that inflation was moving downwards. Perhaps his lack of details regarding the size and the time frame for the asset purchase program kept Dollar bulls interested.
Looking ahead, the forex economic calendar is rather light and we look forward to the US industrial production reading at 1315 GMT.

Saturday, October 16, 2010

Deflation? or Inflation?

[BOSTON FED STUDY ON INFLATION] Boston Fed President is clearly in the QE restart camp, expressing concern that inflation is too low and growth too slow for the Fed to meet its dual policy mandate. His worry about disinflationary pressures may reflect research from his economic team presented at the bank's confab. Their study notes the US has very little recent experience with low inflation rates (core CPI up just 0.8% Y/Y now) and their paper examines the behavior of inflation as it drops below 2% and also looks at Japan's experience. Their finding suggests that inflation can be expected to fall further, or at least will not be prevented from doing so over the year ahead. As such, they find this risk "merits serious attention" from policymakers.

Thursday, October 14, 2010

ACM Reports

The US Dollar was under siege this morning, recording losses across the board and numerous currencies posting all time highs against the Greenback. EURUSD, USDSGD, USDJPY, and AUDUSD broke through key levels this morning; EURUSD made a new 8 month high of 1.4094, USDJPY broke through the Oct 11 low of 81.39 after being large range bound in trading yesterday, and the AUDUSD was approaching the promised land of parity, posting an intraday high of 0.9982 (the highest level since the currency began trading freely). USDCAD already hit the magical parity mark, the first time since April this year, when it made a low of 1.0000. The Loonie has prospered on the combo of Dollar weakness and higher commodity prices and has gained 2.5% over the past month against the Greenback.

The star performer of the session was the Singaporean Dollar which surged to its all-time strongest level after it appreciated to 1.2894 against the Greenback. The Monetary Authority of Singapore announced it would ‘seek a modest and gradual appreciation,’ a stance quite opposite to its Asian Tiger counterparts. Commodities & equity markets also rallied hard during the Asian session, with Gold recording another all time high of 1380 and the Nikkei 225 gaining 1.91% on the day, despite a stronger Yen. Looking ahead, we await the weekly jobs numbers & PPI data from the US.