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Develop a habit of reviewing and analyzing

Develop a habit of reviewing and analyzing your good and bad trades. Then you will have a much better sense of what will work best in your future trades.

Trading is always full of emotions

Because trading is always full of emotions, you must have a trading strategy which includes a set of rules you stick to. This will help protect you from yourself.

software which aims at predicting future trends

While there are a lot of companies who make money by selling software which aims at predicting future trends, the reality is that if this software really worked, these companies would not be giving the secret away.

Trade wisely

There are many beginners who make trades in any direction. While there is a possibility to make profits both on the upside and downside of a trade, trading in the direction of the trend will give you the best chances for success

Invest in a good Forex trading education

The market is always changing and it may be hard to understand and keep up with these changes unless you invest in a good Forex trading education

Thursday, 7 March 2013

Most Asian stocks higher after China news; Nikkei up 2.14%

Most Asian bourses are trading higher at this hour, following their U.S. counterparts higher while getting a lift from solid Chinese export data and a weaker yen. 

In Asian trading Friday, Japan’s Nikkei 225 surged after a report showed that Japan’s GDP rose 0.2% in the fourth quarter following an initial reading that showed a contraction of 0.4%. Japanese shares also benefited from a weaker yen with USD/JPY rising 0.56% to the highest levels in nearly four years. The Nikkei is in position for its best weekly performance of 2013. 

Hong Kong’s Hang Seng jumped 1.15%, but the Shanghai Composite fell 0.18% after a report showed hina’s January and February combined exports jumped 23.6%, easily topping analysts’ expectations for a 17.6% increase. 

The Shanghai Composite may be trading lower due to the import data, which rose just 5% last month, well below the 10% increase economists expected. Industrial output data for January and February is expected to show a 10.5% increase when that number is published. 

Australia’s S&P/ASX 200 rose 0.3% while New Zealand’s NZSE 50 added 0.47%, gains that indicate stocks in those countries are benefiting fromAUD/USD and NZD/USD trading lower. Traders are bidding Australian and New Zealand stocks higher despite the Chinese import data. China is the largest trading partner for both Australia and New Zealand. 

South Korea’s Kospi is off 0.09%, arguably do in large part to the weaker yen. South Korean electronics and automobile makers are major competitors to Japanese equivalents and a weaker yen is seen as damaging to South Korean shares. 

Singapore’s Straits Times Index is lower by 0.19%. S&P 500 futures are lower by 0.07% head of the February non-farm payroll report due out from the U.S. Labor Department later today. Economists expect the U.S. economy, the world’s largest, to show the addition of 160,000 jobs last month. 

Forex Analysis: GBP/USD Consolidates after Reaching 1.5000 Downside Target



GBP/USD (daily chart) as of March 6, 2013 has settled just above major support around the 1.5000 handle. This occurs after price dropped down to hit this target late last week. Since the downside price objective was hit, price has consolidated just above it in preparation for the next significant move. The two-month downtrend (starting at the very beginning of the year), has clearly been steep and dramatic, having broken down below multiple previous support levels. The low just below 1.5000 that was hit on Friday established a 31-month low for the pair.
Despite this extreme low and the current consolidation above key 1.5000 support, the bearish trend has shown little indication of relenting. With major resistance up around the previously broken 1.5250 level, any significant breakdown below 1.5000 would confirm a downtrend continuation with a further downside objective around the 1.4800 support level.
James Chen, CMT
Chief Technical Strategist
City Index Group

U.S. stocks edge higher after data, Draghi remarks; Dow Jones up 0.22%

U.S. stocks opened higher on Thursday, after the release of mixed U.S. ecomomic reports, while comments by European Central Bank President Mario Draghi supported sentiment. 

During early U.S. trade, the Dow Jones Industrial Average rose 0.22%, the S&P 500 index added 0.11%, while the Nasdaq Composite index edged up 0.09%. 

The U.S. Department of Labor said the number of individuals filing for initial jobless benefits fell by 7,000 to a seasonally adjusted 340,000 last week, compared to expectations for an increase of 8,000 to 355,000.

A separate report showed that the U.S. trade deficit widened to a seasonally adjusted USD44.5 billion in January from a deficit of USD38.1 billion the previous month. 

Meanwhile, speaking at the ECB’s post-policy meeting press conference, Draghi said monetary policy will remain firmly accommodative and added that confidence was returning to financial markets. 

Among earnings, Smithfield Foods surged 6.05% after the pork producer posted quarterly results that topped market expectations, thanks to higher sales of its packaged products. 

Financial stocks added to gains, as shares in Goldman Sachs climbed 0.47% and JP Morgan rose 0.30%, while Bank of America jumped 0.92%. Citigroup underperformed on the other hand, slipping 0.16%. 

In company news, Bloomberg reported that Time Warner will spin off its magazine business later this year, turning the nine-decade-old publisher of Time, People and Sports Illustrated into a separate publicly held company. 

The report sent Time Warner shares up 1.91%. 

Elsewhere, Johnson Controls rose 0.37% as the auto-parts maker was said to be exploring a potential sale of its automotive electronics business, but has no "current intention" to sell its automotive interiors unit. 

In the retail sector, Costco Wholesale gained 0.76% after posting a 6% rise in comparable sales in February, beating marketexpectations, thanks to higher fuel prices. 

On the downside, Dell shares dipped 0.05%, following reports investor Carl Icahn built a stake of around 100 million shares in the personal computer maker and wants it to conduct a leveraged recapitalization, complicating founder Michael Dell's effort to take the company private. 

Across the Atlantic, European stock markets were higher. The EURO STOXX 50 rose 0.36%, France’s CAC 40 advanced 0.39%, Germany's DAX added 0.19%, while Britain's FTSE 100 gained 0.34%. 

During the Asian trading session, Hong Kong's Hang Seng Index dipped 0.03%, while Japan’s Nikkei 225 Index added 0.3%. 

Forex - EUR/USD hits session highs after Draghi comments

The euro extended gains against the dollar on Thursday to hit session highs after European Central Bank Mario Draghi said monetary policy will remain firmly accommodative and added that confidence was returning to financial markets.

EUR/USD hit 1.3097 during European afternoon trade, the pair’s highest since March 1; the pair subsequently consolidated at 1.3084, gaining 0.90%.

The pair was likely to find support at 1.2965, the session low and a three-month low and resistance at 1.3146, the high of February 27.

Speaking at the ECB’s post-policy meeting press conference, Draghi said that inflation expectations remain firmly anchored but added that there is evidence that economic weakness has extended into the early part of this year.

The ECB kept rates on hold at a record low 0.75% in a widely anticipated decision.

The ECB revised down economic forecasts for 2013, with euro zone gross domestic product now expected to contract by between 0.1% and 0.9% from a previous forecast for growth of between 0.3% and a contraction of 0.9%.

Draghi said policymakers discussed a rate cut but the "prevailing consensus" was to leave interest rates unchanged at 0.75%.

The euro gained ground against the pound and the yen, with EUR/GBPrising 0.54% to 0.8683 and EUR/JPY jumping 1.35% to 123.66.

The Bank of England voted to leave interest rates on hold at a record low 0.5% and keep the size of its asset purchase program unchanged at GBP375 billion earlier Thursday.

Elsewhere Thursday, the Bank of Japan left the size of its asset purchase program on hold at JPY76 trillion at Governor Masaaki Shirakawa’s final meeting before incoming governor Haruhiko Kuroda takes over next month.

In the U.S., the Department of Labor said the number of individuals filing for initial jobless benefits fell by 7,000 to a seasonally adjusted 340,000 last week, compared to expectations for an increase of 8,000 to 355,000.

A separate report showed that the U.S. trade deficit widened to a seasonally adjusted USD44.5 billion in January from a deficit of USD38.1 billion the previous month.

Forex Trading Signals for 7th March 2013



                                                                                


Japan (Tokyo)                               United Kingdon (London)                        USA (New York)


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We are offering to the first 100 people who will subscribe for our Forex signals for one month
Subscription Price: N 5,500 naira,     $40
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BUY on the market: GBP/USD

BUY : 
Entry Point : 1.59961
Take Profit:   1.50400
Stop Loss:    1.59661

 2nd,,

SELL on GBP/USD : 

Entry Point : 1.50585
Take Profit:   1.50000
Stop Loss:    1.50900

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We will BUY on the market: EUR/USD
BUY
Entry Point : 1.29887
Take Profit:   1.30200
Stop Loss:    1.29587

2nd  SELL on the market,,,

SELL: 
Entry Point : 1.29972
Take Profit:   1.29500
Stop Loss:   1.30300

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