Archive for April, 2009
Forex Signals on Twitter
Posted on 20. Apr, 2009 by Jakob.
As I wrote about in this post, I am currently working on sending out forex signal through Twitter. It might be, that I end up doing it another way, but right now, all of this is just in the testing phase. The signals we looked at in the last post were from Wednesday April 15th. We ended that day with a total of – 27 pips. Not the best start. The trades I am about to look at here were taken the following two days. I have just closed the last trades a few minutes ago, so I currently don’t have any open positions, and I thought it was about time, to share the results.
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Get one year with TimAlerts for $197
Posted on 19. Apr, 2009 by Jakob.
Timothy Sykes, a great guy well known for shortening pennystocks and making a good amount of money from it, is currently offering his Alert service at a discounted price, until Tuesday, April 21st. I am not a member but once I get an account up and running, I sure plan on becomming one. Tim offers a wide range of different products, and TimAlerts is, as the name implies, a signal service for (mainly) shortening pennystocks. There are a ton of testimonials over at timothysykes.com and it seems like most of his members are satisfied customers. If you visit his homepage timothysykes.com you will see what I am talking about.
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Central Bank Gadget from ForexFactory
Posted on 19. Apr, 2009 by Jakob.
The people over at ForexFactory have just launched a new gadget called Central Bank Gadget. This will allow you to see the interest rates of the most important countries in the forex market. The gadget shows the current interest rate, how much and which date the interest rate changed last time, the date for the next release, and the source. All the information shown in the central bank gadget, can easily be found elsewhere, but the cool thing about this is obviously that you have all the information assembled in one place. This is particular helpful if you are into carry trading. The gadget can be found at ForexFactory, in the bottom of the news section, on the left side. Sidney, the one who posted about this on the ForexFactory blog, is looking for feedback, in order to improve the gadget. So if you have any ideas, you should visit their blog and throw a comment. I, for one, think that the gadget is in a wrong location. If I didn’t read about it, I probably wouldn’t have found it. Furthermore, I think it would cool if there were some kind of gadget which could be downloaded. Almost similar to this one, just with more information, like a reminder function about upcoming news, alerts when market open and closes, etc. Something which my brother and me are working on. Anyway, The Central Bank Gadget is a nice addition to an already great site. Check it out, and let me know what you think.
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Support & Resistance Lines – Forex4Noobs
Posted on 18. Apr, 2009 by Jakob.
Forex4Noobs is a great place with a lot of different resources. Blogs, chartrooms, reviews, forum, eBooks, etc. All of it for free. I have been a loyal visitor of Forex4Noobs through a long period now. I specially enjoy the chatroom, which is a great place to talk to fellow traders, and pick up a lot of information. Yesterday I got an email from Forex4Noobs, telling me about this new guide they made on support and resistance lines. As I am a huge fan of support and resistance lines, I downloaded this immediately and read it through. I am always applying support and resistance lines into my charts, in order to help me determine good places to enter and exit trades. If you have no idea what support and resistance lines is, or even if you do, you should grab this report, and read it through. It’s an easy to understand, down to the point guide, which will only take a few minutes to get through. Unerstanding S & R lines is an important aspect of technical analysis, and I believe that a lot of practice of implementing these lines into your charts, and analyzing the importance and possible effect from them, can greatly improve your trading skills. How about starting out with this report, and then come into the chat room, to witness how this is applied in live trading sessions.
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100 % Accurate signals – 100% Bullshit
Posted on 16. Apr, 2009 by Jakob.
I came across Forex Ambush today, and oh my! I thought I had seen the worst out there, but no. Apparently there is no limit to the craziness of how everybody can help you to become the best trader in the world! Forex Ambush has got to be the top of the pop, regarding outrageous claims. On the homepage they state that their signals are 100% Accurate (I won’t be surprised if we hear about 110% within a short period). 100%! That sure is one hell of a promise to make! How is this possible? Well, I see two solutions. First, and most likely, is that this is just pure bullshit bulls…! The other solution is to give signals without any stop loss. The thing is that there is always a stop loss, as nobody has an account with unlimited capital. Now the next claim is even better. Produces returns in excess of +1,600% monthly, +20,000% annually!! HA! This got me laughing hard! I am not even going to comment further on this. This is just lame, and obviously not worth a dime! I have not tried this “service”, and I surely don’t intend to do so. I know they have a “60 day 100% money back guarantee!”, but if this is 100% as in 100% accurate, I would also give this statement a second thought, before jumping in! There are a lot of scammers in this industry! You know that if something sounds too good to be true, it probably is. If something sounds very stupid, it probably is! I definitely recommend you to stay away!
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Twitter & Forex Signals
Posted on 16. Apr, 2009 by Jakob.
Yesterday I tried sending some signals through twitter. The great thing about this is that the message directly pops up to all my followers, like instant messaging to a large group. This signal topic is still in a testing phase, but my plan is to make it an integrated part of this blog, with daily signals, and a journal so you can follow my performance. I will keep you guys posted.
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BabyPips starts Reviewing – ReviewPips
Posted on 14. Apr, 2009 by Jakob.
Those of you, who are into forex trading, probably know babypips.com. This is a great site with a lot of information about how to trade the forex market. If you are new to the game, I suggest you get over there now and start reading. For a long time, BabyPips has mostly been known for their forex school section. They also run a forum, a blog, calendar, etc. The site has been running for some years now, and everything is pretty much the same, as the first time I visited the page. However, a few weeks ago they started their new section ReviewPips. I guess they have seen how much ForexPeaceArmy is charging for a small add spot. There is no doubt that there is a great demand for these reviews, and obviously BabyPips would like be a part of this industry. There is still a long way to go, before ReviewPips will be anything close to ForexPeaceArmy, but the page is up and running, and although the amount of reviews is small, it does grow. I guess they will have to do some kind of marketing before the ball really starts rolling, but let’s see. After all, BabyPips have been in this game for a long time, so I guess they know what they are doing. I will be following to see how things work out.
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Follow TradeProfits on Twitter
Posted on 13. Apr, 2009 by Jakob.
The title says it all. TradeProfits is now on twitter. It almost seems like you can survive if you aren’t part of all the social networking game. So why not go ahead, and start following. I have thought about using it, for sending out some trade signals, as this is a quick and easy way to send the message out to a lot of people, but more important, I will have to keep it short. Whenever I start writing a blog post, I always have so many thoughts I want to share. Using twitter, this problem is eliminated. I simply have to keep it short. I look forward to get started with it, and hopefully some of you guys will follow.
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Update on the GBP/USD signal
Posted on 13. Apr, 2009 by Jakob.
A few days ago, I wrote about the GBP/USD trading in a range, and the possibility for a trade, when either the support or resistance line was broken. It did take a while, and to be honest, I didn’t expect it to happen today, due to the holidays. But it did break our resistance line about 5 hours ago. The one hour candle closed shortly after above the resistance line, and I went in long at 1.4805. At this moment the pair is trading around 1.4855, so I am up about 50 pips. I have moved my stop loss to break even, and I will let it ride a bit. I expect it to go higher, but since we are getting close to the psychological 1.5000, I will keep an eye on it. I will probably TP at 1.4870 -75 if it goes that far. I guess I will go higher throughout the week, but I will probably bounce of 1.5000 a couple of times before breaching it. We have not really seen any retrace back to our resistance (now support) line, but if you didn’t get in, you will probably get another shot, within a short period. If you want to be safer, wait for a breach of 1.5000, to go long. That’s it for now. Let me know what your thoughts are.
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Signal for GBP/USD
Posted on 09. Apr, 2009 by Jakob.
Alright people. I will start posting some Forex signals, when I am considering to enter a position. This will be based on different strategies, and most often in a combination of technical and fundamental analysis. However, as I have not really been paying attention to the news today, and I am off on vacation tomorrow, I have not spent any time focusing on upcoming news. So this trade is solely based on a technical analysis. And a rather simple one, I might add. Anyway, I think is has some good potential, if it is played right. Taking a look at the chart below you will see that the GBP/USD pair has been in a range in the last period. This is a 4 hour time frame, and the two red lines seem to line up as pretty good support and resistance lines. At the top we have 1.4779 and the buttom is 1.4581. The pair is currently at 1.4670.
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