8:13 PM Comment0 Comments


If you want to make big profits in forex trading
you need to decide the time frame you wish to tradhere we will compare forex day trader with forex trend following and the clear winner is...

Forex trend following.
It's really a no contest because forex day trader doesn't work. Before we compare the two lets get rid of the forex day traders make money. You have seen all those fantastic track records - but they all have a problem and it's this disclaimer:
Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown".
Let's compare the two methods of trading:

8:12 PM Comment0 Comments


British Pound Technical Outlook

The British Pound has found a short-term base against the US Dollar, holding highly-contested support near the psychologically significant 1.4700 mark. Its recent price formation likewise looks vaguely like an inverse head and shoulders pattern, and a break above 1.5500 would signal that a more medium term reversal is likely.

Shorter-term, the British Pound looks to challenge previous spike-highs at the psychologically significant 1.5000 mark.

Euro Technical Outlook

The Euro has stalled at significant resistance against the US Dollar, and we see further scope for Euro/US Dollar weakness through upcoming trade. After such dramatic US Dollar declines, we would expect to see similarly sharp corrections. A reversal at the pair’s 61.8 percent Fibonacci retracement of its 1.6040-1.2330 decline and 200-day Simple Moving Average signals further dramatic advances are unlikely.

The very short term shows that the Euro/US Dollar has thus far held short-term intraday lows of 1.3825, but a break below signals that a move towards previous lows near 1.3600 is likely.

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8:12 PM Comment0 Comments


ForexGen has the pleasure to announce the launching of its first monthly Live Accounts contest,
This is NOT a demo contest

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8:11 PM Comment0 Comments

A spread is the difference between the bid price and the offer price.
A spread is the difference between the bid price and the offer price.

Most online forex brokers utilize spread-based trading platforms for individual traders. Look at the spread as the compensation the broker receives for being the market-maker and executing your trade. Spreads vary from broker to broker and by currency pairs at each broker as well.

Generally, the more liquid the currency pair, the narrower the spread; the less liquid the currency pair, the wider the spread. This is especially the case for some of the less-traded crosses.

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5. Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.
6. [ForexGen] offers a free trial Forex [demo account] that allows you to test your skills and practice without risking real money.

8:10 PM Comment0 Comments

[ForexGen Academy]

If you are an experienced ‘FOREX’ Trader or just a beginner looking for the opportunities offered in the ‘FOREX’ market, [Forexgen] has created ForexGen Academy to give you the chance to get a ‘FOREX’ education and improve your trading skills. No hard expressions, no buzz words, and no rocket science language are used throughout these lessons.
How to Get Started?

People are introduced to the exciting world of foreign exchange in many ways: friends, current events, newspapers, television, and many others. For those of you who are new to forex, the following guidelines cover the basics of currency trading.

also do you Know ForexGen Lowest spreads in the market with 0-1 pip spread in 10 pairs, no commissions, no swaps and instant account Activation.

8:09 PM Comment0 Comments

Russia's Central Bank lets ruble fall before holiday season

Russia's Central Bank on Monday allowed its plummeting currency to drop further on the last day of trading before the long New Year's holiday, ending a rollercoaster year for the ruble on a historic low.
The ruble slid 1.5 percent on the MICEX foreign currency exchange, to close at 34.9 rubles against the Central Bank's euro-dollar basket.
It hit 29.2 against the dollar -- a level that hasn't been seen since 2005 -- and 41.7 against the euro -- an all-time low. It is the third sharp drop in the national currency in just five days, and the 12th since Nov. 11, when the supervised slide began.

The Central Bank on Tuesday is to set the official foreign currency exchange rates to serve as the holiday benchmark before a 12-day trading break that is set to run through New Year's and Russian Orthodox Christmas on Jan. 7 and end on Jan 11.
Russia's Central Bank normally does not allow the currency to lose more than 1 percent of its value in one day. The ruble has shed more than 20 percent of its value against the dollar since its high of 23.4 against the dollar in early August.
Russian Prime Minister Vladimir Putin for the first time Monday offered an explanation of government policy of incremental devaluation.

8:07 PM Comment0 Comments

What is Forex?

The actual question is what is Forex, and how does it work?

Forex, or the foreign exchange market can be simply explained as the simultaneous buying of one currency and selling of another. It is basically a marketplace where currency trading takes place on a daily basis. The trading of these currencies are facilitated mostly by international banks and some other official institutions. A typical transaction would involve the buying of one currency by providing a certain amount of another currency.

At the moment Forex is one of the largest and most liquid, meaning you can easily buy or sell currencies without disrupting the price too much, financial markets in the world. The main purpose of the Forex market is to facilitate trade and investment.

Ok, so why would you want to do this? Well, it's simply really. The fluctuation of currencies implies that they are not all high or low at the same time. This means that the values of currencies, relative to other currencies, will also fluctuate. What I am getting at is this. It could happen that you buy a currency that is currently not very highly priced, then in a short while you could see an increase in its value. This is when you start thinking of selling and in the process you can make a lot of money.

8:05 PM Comment0 Comments

Forex Profit Code is an automated forex that had never had a losing trades. This system continously and doesn't failed to give trader a sure income. I like this system because of it's uniqueness and simplicity. The system doesn't need any trading experience and most of all it doesn't need any huge capital to start testing the profitability of the system.

Forex Profit Code is not the usual hyped that you can find online. This system depends entirely on the use of scientific criteria to select and choose winning trades. It uses scientific logic that can surely gives you a never ending profit! This system continously and consistently make $1500/day in full profits, making it as the top choice for many expert traders!





You don't have to doubt it's own profitability because Forex Profit Code has been attested and the results were verified by an attorney of law. The system was designed not only for beginners but for every one who wish to start making real money from forex!

8:03 PM Comment0 Comments

Forex Trading

Deals in the forex marketplace rely on international money amongst many countries to create a harmonious marketplace where millions of trades are done on a daily basis. The forex stock market is much like America marketplace, as individuals trade, but the marketplace and the over all effects are much larger. The ones doing transactions in the forex stock market include the UBS, the Deutsche bank, HSBC, and numerous others like Citigroup and Merrill Lynch and even more American financial businesses.

To get your hands dirty in the forex exchange, getting in touch with one of these experienced financial institutions would be your best bet. Sure, anyone can get involved in the forex market, but it requires some education on how the forex market flows and just where you should place your money at any one time.

8:02 PM Comment0 Comments

Find the latest in the world of Foreign Exchange Markets both at TMB, Nationally and Internationally. Get the latest upto date news / report about the forex related information from us. Learn about the interest rate movements as and when they happen right here right now. This can be your one stop forex news point for the latest and upto date news about forex markets.

NRE Term Deposit - Interest Rates revised

Oct1

The NRE Term Deposit Rates are revised with effect from October 01, 2007. Now, you get 4.9% for deposits above one year but below two years. 4.59% for deposits above two years but below three years. 4.64% for deposits of three years upto ten years only. read more >>

RBI revises the interest rates on FCNR (B)

Jan1

Reserve Bank of India has revised the interest rates on FCNR (B) deposits of all maturities contracted effective close of business in India on January 31, 2007 are subject to a ceiling of LIBOR/SWAP rates for the corresponding maturities MINUS 25 basis points (as against should not exceed LIBOR/SWAP rate) prevailing on the last working day of the previous month for relevant maturity and currency.

Interest Rate Ceiling on FCNR(B) Deposits Revised

Mar29

Reserve Bank of India has revised the interest rates on FCNR(B) deposits of all maturities contracted effective close of business in India on March 28, 2006 should not exceed LIBOR/ SWAP rate (as against 25 basis points below the LIBOR/SWAP) prevailing on the last working day of the previous month for relevant maturity and currency. read more >>

NRE Savings Bank Deposits - Interest Revised

Nov18

Interest rate on NRE Savings Bank Deposits with effect from November 18, 2005 is 3.50%

Acceptance of Deposits - Revised Guidelines

Apr24

RBI has prohibited persons other than Authorised Dealers/Authorised Banks to accept deposits from NRIs out of inward remittances from overseas or by debit to NRE/ FCNR (B) Accounts.

8:01 PM Comment0 Comments

Foreign Exchange Market Analysis Report:

International Forex Market Trend / Comments / Information / Report and Rates provided below was last updated in part or full on Thursday, July 30, 2009 - 10:25 am (GMT +05:30:00) - Indian Standard Time.

Live Market Rates (Updated Frequently):

Table showing Live Market Rates updated frequently
CurrencyBidAsk
US Dollar48.350048.3600
Euro67.940068.0400
Pounds79.640079.7400

INR / USD / EURO / GBP

Trend Indicators against INR
- - - - - - - - - - - - - - - - USD-----------------EURO----------GBP
Previous day-----48.2800/48.5100---67.85/68.63 78.69/79.58
Today's opening-48.53/48.54---68.12/68.22 79.38/79.48
Expected range for today
---------------------48.3000/48.7500-------------------------------
& current month-47.5000-49.2500----------------------------------


On Wednesday, Rupee opened lower the trade at 48.33/34. Bearish stock indices on account of fall in Asian Stock indices and month end dollar demand from import corporates weakened the Rupee upto the level of 48.51. However dollar selling at rise by exporters and recovery of stock indices towards the close restricted further depreciation of Rupee and Rupee closed the trade at 48.41/42

8:00 PM Comment0 Comments

The Forex Department at IBD, Chennai is equipped with state of art fully loaded and most modern dealing room with dedicated and experienced financial executives manning the forex services to cater to the ever growing customer base utilizing our forex services.

Forex Services:

  • Competitive exchange rates
  • Export finance
  • Import finance
  • All types of Inward and Outward remittances
  • Foreign Currency TC
  • Exchange rate counseling
  • Derivatives to Hedge forex risks offered
  • Foreign Currency Loans
  • Fast and efficient services
  • Wide correspondent bank network all over the Globe
  • Full fledged state of art fully loaded Modern Dealing Room

Foreign Exchange Dealing Room:

Dealing Room at Intnl. Business Development Division, Chennai

Pictured above is our fully operational and 100% functional international dealing room with highly trained and efficient people in-charge of all our international forex services.

7:59 PM Comment0 Comments

EUR/USD 1.4126 1.4129 1.4065 1.4135
USD/JPY 95.31 95.34 95.25 95.63
GBP/USD 1.6517 1.6521 1.6486 1.6528
USD/CHF 1.0845 1.0848 1.0842 1.0886
CHF/JPY 87.85 87.90 87.68 87.98
GBP/JPY 157.43 157.51 157.29 157.89
EUR/CAD 1.5263 1.5271 1.5231 1.5280
GBP/CHF 1.7914 1.7922 1.7911 1.7960
EUR/CHF 1.5321 1.5325 1.5301 1.5330
AUD/USD 0.8280 0.8284 0.8236 0.8285
USD/CAD 1.0805 1.0810 1.0803 1.0855
EUR/GBP 0.8550 0.8553 0.8524 0.8554
EUR/JPY 134.63 134.67 134.29 134.71
NZD/USD 0.6560 0.6565 0.6511 0.6565
CAD/JPY 88.17 88.24 88.00 88.35
EUR/AUD 1.7054 1.7061 1.7030 1.7087
AUD/CAD 0.8946 0.8954 0.8923 0.8960
AUD/JPY 78.91 78.97 78.64 79.06
DOW JONES 9105 9115 9079 9118
GOLD 937.30 938.20 932.90 938.55
S&P 500 983.65 984.40 980.90 984.40
NASDAQ 1605.2 1613.7 1601.5 1614.0
SILVER 13.61 13.66 13.46 13.69
CRUDE OIL 67.14 67.24 66.42 67.37
MoneyForex Financial Ltd.

7:59 PM Comment0 Comments

Forex vs. Equities and Futures
In our opinion, the trading of foreign exchange provides significant advantages over equities trading and futures trading. In addition to these advantages, the seamless 24 hour nature of the Forex market gives the trader a unique advantages of reacting to news and worldwide developments instantaneously, participating in real-time, in the largest trading market in the world.

Forex Trading
Equities Trading
Futures Trading
Leverage *
Upto 100:1*
2:1
15:1
Liquidity
Volume: $1.5 Trillion Aprox.
Limited Liquidity
Limited Liquidity
Commissions
Lowest Commissions
Commissions and Exchange Fees
Commissions and Exchange Fees
Trading Hours
24 Hour Market
7 Hours with
Limited After Hours

7 Hours with
Limited After Hours

Ability to Trade in Rising or Declining Markets
Unlike equity and fixed income managers, a Forex trader is able to trade under any market conditions by either buying or selling a particular currency in relationship to another. In the Forex market there will always be one currency strengthening against another, unlike stock shares that move only up or down.

Global Diversification
The performance of equity and fixed income investments in one country is quite often, highly correlated with the performance of equity and fixed income investments in other countries. Global portfolios composed solely of equity and fixed income investments lack full diversification, even if they are geographically dispersed. Investing in currencies gives investors access to markets beyond equity and fixed income investments, providing more diversification and increased portfolio risk management.

7:58 PM Comment0 Comments

Below are the benefits of trading the Forex markets:

Minimum Brokerage Commissions
Transacting in the FOREX market does not require much brokerage commission expense. As any experienced trader knows, equity transactions and futures transactions both require brokerage commission that, in some cases, constitute a significant expense. Minimum brokerage commission is an immediate cost saving to the FOREX trader.

Minimum Starting Balances
The minimum starting balance for accounts is $300 thus placing FOREX trading within reach of those individuals who have only a modest amount of risk capital. Furthermore, an operational FOREX policy automatically closes all open positions the moment margin in an account drops below the required level. This helps to ensure that the trader never loses more money than that originally deposited.

Streaming Real-Time Quotes
In the FOREX market, traders execute directly off streaming real-time bid and offer quotes. The bid or ask one sees quoted is typically the price at which one is able to deal. Whilst there may arise discrepancies between the two, it should be noted that in most markets, a trader may face uncertainty with regard to price fills for an order, especially when transactions are executed on an exchange floor to which the trader does not have direct access to.

Open 24 hours a Day
The FOREX market operates continuously from its open at 2pm Sunday afternoon New York time with the Sydney-Auckland market until its close at 5pm Friday in New York. FOREX trading follows the day around the world: from Sydney to Tokyo to London to New York. The seamless 24-hour nature of the FOREX market enables the trader to react to news as it occurs - regardless of the time. It gives the trader the flexibility to set their own hours of the trading day.

7:57 PM Comment0 Comments

At the end of World War II, the major countries of the world set up the International Monetary Fund (IMF). The IMF is an international organization that monitors balance of payments and exchange rate activities. In July 1944, at Bretton Woods, New Hampshire, 44 countries signed the Articles of Agreement of the IMF. At the centerpiece of those agreements was the establishment of a worldwide system of fixed exchange rates between countries. The anchor for this fixed exchange rate system was gold. One-ounce of gold was defined to be worth 35 U.S. dollars. All other currencies were pegged to the U.S. dollar at a fixed exchange rate. For example the Japanese’s Yen was set at 360 yen to a dollar, the British Pound was set at $ 4.80.

Although the fixed exchange system served well during the 1950 and early 1960, it came under increasing strain in the late 1960s and by 1971 the order was almost collapsed. Most economists trace the break up of the fixed exchange rate system to the US macroeconomic policy package of 1965-68 to finance both the Vietnam conflict and its welfare programs, President Johnson backed an increase in US government spending that was not financed by an increase in taxes. Instead, it was financed by an increase in money supply, which in turn, led to rise in price inflation from less then 4 percent in 1966 to close to 9 percent by 1968. With more money in their pockets the American spent more, particularly on imports, from here the US trade balance started to deteriorate rapidly.

The rise in inflation and the worsening of US trade position gave support to the speculation in the foreign exchange market that the dollar would be devalued. Things came to a head on spring 1971, when US trade figures were released, which showed that for the first time since 1945, the United States was importing more then it was exporting. This set off the massive purchases of deutsche marks by the speculators who guessed that the DM would revalue against the dollar. On a single day May, 4, 1971 the Bundesbank had to buy $ 1 billion to hold the dollar/DM rate at its fixed exchange rate given the great demand for DMs. On the morning of May 5, the Bundesbank purchased another $ 1 billion during the first hour of trading. At that point, the Bundesbank faced the inevitable and allowed its currency to float.

7:56 PM Comment0 Comments

"FOREX" and "FX" are simply abbreviations of "foreign exchange" and refer to over-the-counter currency markets. Foreign exchange is the largest and liquid market in the world trading approximately $1.5 trillion every day (that is over 30 times the daily volume of NASDAQ and NYSE combined). The FOREX market are traded directly between banks, foreign currency dealers and forex investors wishing either to diversify, speculate or hedge foreign currency risk. The FOREX market is not a "market" in the traditional sense because there is no centralized location for FX trading activity and, therefore, trades placed in the FOREX market are considered over-the-counter (OTC). FOREX trading provides business opportunities between parties which occurs through computer terminals, exchanges and over telephones at thousands of locations worldwide.

Until recently, the FOREX market was not available to the small speculator, this market was confined to larger traders: major international commercial and investment banks; international corporations; national and mulitnational companies; corporate members, international money brokers; currency traders etc. The large minimum foreign currency transaction sizes and financial requirements left this market in the hands of large FX speculators. Now, with the ability to leverage large positions with a relatively small amount of capital (margin), the online forex trading market is now liquid than ever and available to every one.

7:55 PM Comment0 Comments

When you trade in the forex exchange, you’re engaged with foreign stocks, currency and the goods of these nations. One country’s currency is weighed against the currency from a different country to figure the worth. The final worth of that currency is calculated when trading stocks on the FX markets. Many outside markets will be in control over the adjusted worth their country brings involving the currency, or money. Individuals who are often concerned in the FX market exchange accepts many large businesses, banking institutions international administrations and finance companies.

Forex Currency

What are the things that make the forex exchange so different from the US stock market? A trade on the forex market is one between two countries, and it can take place worldwide. Each country involved should be either 1, that of the investor, and 2, the country the money is being invested in. The greater amount of transactions that occur in the forex market are going to take place through a broker, such as a bank.

What are the ingredients of trading in the forex market? The overseas market is comprised of a mixture of financial exchanges amongst nations. For those invested in the forex exchange generally trade in massive bulk with vast amounts of currency. For those deep into the forex stock market are likely to have companies who are cash businesses or are in the market of buying and selling liquid assets. The US market is massive but it is correct to think of the forex exchange as a giant in comparison than an individual market exchange in any one country. Those involved in the forex market are trading every single hour of every single day and sometimes on the week-ends.

You may be shocked to know the number of people that are involved in forex trading. In 2004, as much as two trillion dollars was the mean forex trading volume This is an immense number of trades for the number of daily dealings at a time. You can imagine how much one trillion dollars might be and multiply that by two, and this figure is the number of financial transactions every day on forex!

10:24 AM Comment0 Comments

Interbank FX, LLC (IBFX), a leading provider of online off exchange retail foreign currency (Forex/FX) trading services, has tapped the extensive global foreign exchange trading experience of Peg Reed who joined the company as Managing Director of Global Sales.

Reed’s responsibilities will include expanding new strategic technology and broker partnerships around the world for IBFX, particularly in the Asian market.

“Peg is a powerhouse in Forex trading,” said Todd Crosland, Interbank FX chairman and president. “We are very excited to have her join the IBFX team, and look forward to a new and emerging initiative that will have great impact on Forex trading throughout the industry.”

Reed has a successful track record of creating, building and managing profitable enterprises. Her experience ranges in Forex from voice dealing to establishing electronic solutions for the marketplace.

She has worked for Bank of America, Standard Charter Bank, Barclays Bank, and the American International Group where she made significant contributions to profitability as a currency trader and global client relationship manger. She also managed large portfolios and oversaw the Forex risk accounts of large multinational corporations, hedge funds, and high net worth individuals. In addition, Reed was instrumental in the development of Hotspot FXi, an electronic communications network for wholesale foreign exchange, and was head of sales for Lava Trading.

10:23 AM Comment0 Comments

What happened in Asia After past Wednesday dollar rally, Asian session was mostly corrective for currencies. Supported by comments from China that it isn't about to tighten monetary, global risk appetite returned to markets. Nikkei 225 closed at 10175 points, above previous year high. Anyway, Euro correction was halted just under 1.4100 as the hegemonic currency remained under pressure since past failure attempt to break above 1.4300. Gbp/Usd rebounded strongly at daily 20 SMA that has been

10:21 AM Comment0 Comments

Major Currencies
Currency
Units per USD USD per Unit
Australian Dollar AUD 1.2488 0.8008
Canadian Dollar CAD 1.0903 0.9172
Euro EUR 0.7074 1.4137
Japanese Yen JPY 95.4654 0.0105
Pakistan Rupee PKR 81.11 0.0123
U.A.E Dirham AED 3.6727 0.2723
UK Pound Sterling GBP 0.6179 1.6185
US Dollar USD 1 1
Other Currencies
Currency
Units per USD USD per Unit
Afghanistan Afghanis AFN 50.0901 0.02
Albania Leke ALL 94.0275 0.0106
Algeria Dinars DZD 72.11 0.0139
Argentina Pesos ARS 3.7442 0.2671
Bahamas Dollars BSD 1 1
Bahrain Dinar BHD 0.377 2.6523
Bangladesh Taka BDT 68.95 0.0145
Barbados Dollars BBD 2 0.5
Bermuda Dollars BMD 1 1
Brazil Reais BRL 1.972 0.5071
Bulgaria Leva BGN 1.3832 0.723
CFA BCEAO Francs XOF 464.0141 0.0022
CFA BEAC Francs XAF 464.0141 0.0022
Chile Pesos CLP 563.735 0.0018
China Yuan CNY 6.8293 0.1464
Colombia Pesos COP 2138.5 0.0005
Comptoirs Francais du Pacifique Francs XPF 84.4135 0.0118
Costa Rica Colones CRC 577.3 0.0017
Croatia Kuna HRK 5.202 0.1922
Czech Republic Koruny CZK 19.04 0.0525
Danish Krone DKK 5.2614 0.1901
Dominican Republic Pesos DOP 35.9001 0.0279
East Caribbean Dollars XCD 2.685 0.3724
Egypt Pounds EGP 5.6167 0.178
Estonia Krooni EEK 11.0682 0.0903
Fiji Dollars FJD 2.1272 0.4701
Hong Kong Dollar HKD 7.7525 0.129
Hungary Forint HUF 200.39 0.005
Iceland Kronur ISK 121.695 0.0082
IMF Special Drawing Rights XDR 0.6514 1.5352
Indian Rupee INR 47.12 0.0212
Indonesia Rupiahs IDR 10202.5 0.0001
Iran Rials IRR 9683.5 0.0001
Iraq Dinars IQD 1158.6 0.0009
Israel New Shekels ILS 3.98 0.2513
Jamaica Dollars JMD 88.4806 0.0113
Jordan Dinars JOD 0.709 1.4104
Kenya Shillings KES 78.35 0.0128
Kuwaiti Dinar KWD 0.2872 3.482
Lebanon Pounds LBP 1509.5 0.0007
Malaysian Ringgit MYR 3.485 0.2869
Mauritius Rupees MUR 32.4003 0.0309
Mexico Pesos MXN 13.1225 0.0762
Morocco Dirhams MAD 7.9679 0.1255
NewZealand $ NZD 1.5603 0.6409
Norwegians Krone NOK 6.2891 0.159
Omani Riyal OMR 0.3851 2.597
Peru Nuevos Soles PEN 3.02 0.3311
Philippines Pesos PHP 47.1143 0.0212
Poland Zlotych PLN 3.1877 0.3137
Qatari Riyal QAR 3.6402 0.2747
Romania New Lei RON 2.9634 0.3375
Russia Rubles RUB 30.8535 0.0324
Saudi Riyal S