TradeProfits

MyFxBook – Trading Contest

Posted on 21. Jan, 2012 by Jakob.

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MyFxBook is once again, hosting a forex trading competition, where you can participate completely free of change and win a live funded account. The sponsor for this competition is Vantage FX, and the one who takes the first place will win a live account from Vantage FX with an account balance of $2,500, second place $1,000 and third place $500. Read more... (168 words, estimated 40 secs reading time)

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FXCM – Improved MT4 Technology

Posted on 21. Jan, 2012 by Jakob.

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FXCM, the world’s largest FX broker, have released a new version of MT4 with improved features. You can now trade micro lots (0.01 lots) which is a great addition for clients with a small account balance, as they will be in a better position to use proper risk management. Another feature with the lower lot sizes is the option to close orders partially. The new version of MT4 also allows you to set a Max Deviation when you enter trades; this basically allows you to control slippage on normal market orders, and because of this also enables you to place stop loss and take profit levels at the execution of the order. If you trade the news (spike trading), having this feature is of paramount importance. They have also added additional pairs to the platform, and most interestingly is the removal of the bridge software; Read more... (274 words, estimated 1:06 mins reading time)

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Trading Forex – EUR/USD Ready for Further Downside

Posted on 20. Jan, 2012 by Jakob.

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Trading Forex – Market Outlook for January 20th 2012. EUR/USD has been trading higher all week long. It has surged from a low around 1.2620 on Monday to a new high today around the 1.2970 level. This is a move of more than 300 pips to the upside which without a doubt will make a lot of trades question new lows in a near future. There has been a lot of buzz that traders should now start to look for long positions on this particular pair. I think the move up we have seen this week is nothing more than a pullback due to profit taking. Since the end of October 2011, the pair has plummeted by more than 1500 pips so a pullback is only a natural reaction to such a massive move. Read more... (864 words, 1 image, estimated 3:27 mins reading time)

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EUR/USD and Non Farm Payroll

Posted on 05. Jan, 2012 by Jakob.

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Going through the different time zones on a chart can be a really healthy choice every now and then; this is specially true if you have been starring at the 5-minute chart all day long. Yesterday we have had a really good move down on EUR/USD and today we will get the first Non Farm Payroll numbers for 2012 which could cause some volatile moves in the market, so make sure to play it safe. Read more... (279 words, 1 image, estimated 1:07 mins reading time)

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