TradeProfits

TradeTheNews is partnering with TradeSight

Posted on 10. Jan, 2010 by Jakob.

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If you like to trade the forex market around news announcements, chances are that you will need to be a member of a service like TradeTheNews. I have written about TradeTheNews before here. A few days ago I got an email from them, telling me that they are now partnering with a service called TradeSight; TradeSight is an educational service which was founded back in 2002 and offers information and education about the U.S. stock and futures markets, individual securities and the forex market. Apparently their main focus is on technical analysis. Hence a partnership with TradeTheNews obviously makes them somewhat more diverse and ready for a larger group of customers. I used TradeTheNews for a short period back in 2009 and I was very pleased with their service. TradeSight on the other hand, is completely new to me, so I will not comment on their service. However, if you are interested in becoming a member of TradeSight they currently run a 50% discount on your first month, due to this new partnership. All you have to do, is use the coupon code “TTN” when you sign up for one of their services.

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Non-Farm Payroll Recap

Posted on 09. Jan, 2010 by Jakob.

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Yesterday the Non-Farm Payroll number came out from US, and things went pretty crazy. The number came out worse than expected, and although it was not nearly as bad as it was a couple of months ago, we still got a strong reaction on the market. In the last couple of month, we have seen that the EUR/USD and the USD/JPY tend to have an initial spike in the same direction, and then after a minute or two the EUR/USD would turn around, whereas the USD/JPY would continue in the same direction. Yesterday was different; the EUR/USD spiked up immediately and the USD/JPY spiked down. This move kept going for about one hour and both the EUR/USD and USD/JPY moved close to 110 pips in this period. The following two hours we got a complete retracement all the way back to pre-release, and then finally it turned and ended up rather close to the top and bottom of the initial spike. Wayne McDonell from FX Bootcamp has recorded a video where he covers all the details of the NFP, and shows you exactly how to post trade the Non-Farm Payroll. If you are new to trading the Non-Farm Payroll, you might want to check it out. The only thing I don’t like about his approach is that he is talking about Fibonacci retracement and double tops on a one minute time frame; to me this seems completely irrelevant. However, it is still worth watching. Read more... (245 words, estimated 59 secs reading time)

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Most Popular on TradeProfits in 2009

Posted on 07. Jan, 2010 by Jakob.

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I thought I would make a small recap of the most popular posts from 2009 here on TradeProfits. So here goes. First of all, the most popular page has been my performance record which you can find here. These are all the trades I took in 2009, all of which was posted for free on twitter. The most popular posts are outlined below: Read more... (150 words, estimated 36 secs reading time)

This is a preview of Most Popular on TradeProfits in 2009. Read the full post (150 words, estimated 36 secs reading time)

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December and 2009 in Review

Posted on 05. Jan, 2010 by Jakob.

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After the first losing month in 2008 (November), December turned out to be a lot better. I had a total of 11 trades during the month of December. 2 of the 11 trades went in to a loss, 4 of them were winners and the remaining 5 trades were closed out at break even. In total I had a return of 20.52% return to my account balance for December, which makes it the best month of 2009. In spite of the large return, my risk management was controlled in the same manner as the previous months. Read more... (338 words, estimated 1:21 mins reading time)

This is a preview of December and 2009 in Review. Read the full post (338 words, estimated 1:21 mins reading time)