Archive for 'Uncategorized'
MyFxBook – Trading Contest
Posted on 21. Jan, 2012 by Jakob.
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.
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EUR/USD and Non Farm Payroll
Posted on 05. Jan, 2012 by Jakob.
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.
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Strong Moves and Lots of News
Posted on 01. Nov, 2011 by Jakob.
After a couple of days relaxing in Barcelona, I am back in the game and we sure did have a crazy start to the week so far. BOJ intervention, MF Global bringing fear into the market, RBA cutting cash rate, NFP coming up on Friday along with a bunch of high impact news releases scheduled for the rest of the week.
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Million Dollar Pips – Update
Posted on 05. Oct, 2011 by Jakob.
As most of you know, I grabbed myself a copy of the EA Million Dollar Pips some days ago (Million Dollar Pips – Live Testing). The first couple of days, it was only active the hours I was in front of my computer. I have never seen so much hype about an EA before, and not only the usual sales tactics but also on forums and prof from traders who have performed live forward tests of Million Dollar Pips; needless to say that things looked impressive, which is why I decided to give it a shot.
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OpenTrader – Yet Another Social Network For Traders
Posted on 05. Oct, 2011 by Jakob.
I stumbled upon the new site OpenTrader yesterday. I went through a couple of their sites and signed up for a free membership. Unfortunately the site is not ready just yet. They plan to launch in mid-October. So I am on the waiting list and as soon as they open the doors, I will definitely spend some more time on this site to see what they can do for me.
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Million Dollar Pips – Live Testing
Posted on 22. Sep, 2011 by Jakob.
I hate the name. I am not a big fan of Expert Advisors. The sales page is as classic as it gets! And yet, I bought into the hype! I am now a Million Dollar Pips owner.
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Pivot Farm – Support & Resistance beyond Imagination
Posted on 21. May, 2011 by Jakob.
Pivot Farm is a commercial service which has been around for some time now. Because of this, it amazes me that this service hasn’t been highlighted in any way similar to new expert advisors or other forex related products and services out there. Compared to the majority of new services and products, Pivot Farm is the real deal!
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ECB Rate Hike – As Expected
Posted on 07. Apr, 2011 by Jakob.
Throughout the day we have seen a fairly resilient market with a lot of range-bound trading. A rate hike from ECB was widely expected and the actual release reflected the forecast with a hike of the key interest rate to 1.25 percent. This resulted in nothing besides a whipsaw on major pairs as an increase of 0.25% already had been priced in. 45 minutes later we had the press conference from Jean-Claude Trichet which was slightly more dovish compared to the previous press conference, which initially pushed EUR/USD down to just around the 1.4240 level. Shortly after US open the pair pushed back up and is currently trading at the 1.4290 level. Trichet did somewhat share the idea of an additional rate hike within the next couple of months but did simultaneously state that they have not decided whether this increase is the first of a series or not! So we have a rate hike which is clearly priced in at the current level, along with Portugal asking for bailout, recent Irish bank stress test which did not come out exactly positive – Needless to say that inflation is not the only concern at the moment. With recent fundamental releases out of US, and the current situation in EU, I favor downside on EUR/USD for the time being. Now for a position solely based on fundamentals, a swing trade is necessary. However, I think a short-term short position could play out nicely as well, due to current price action. Anyhow, for a swing position I would pay close attention to recent highs around 1.4350. I don’t see 1.45 being touched within the next couple of days without another strong fundamental release supporting further upside for now. So if we get a re-test of 1.4350 I would say a short with a 150 pip stop should be a fairly good bet. As always, I would not jump in immediately at a re-test but wait for momentum to take off and pay attention to price action and upcoming releases; this is definitely one setup I will pay attention to. In relation to “buy the rumor sell the news” – this seems pretty much the ideal situation in my opinion. What do you think?
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Weekly Outlook on the FX Market
Posted on 30. Jan, 2011 by Jakob.
I thought I would write an outlook for the upcoming week, and now, a couple of hours later, I am finally done. This sure did take me a bit longer than expected, simply because I was working with some new way to present this. So I emailed all my readers about an hour ago with the newly finished weekly outlook, and emails are starting to drop in with friendly feedback – Thanks guys. So if you are on my list, you should have a copy in your inbox by now. If not, you can grab a copy below, if you simply give me a tweet or facebook link. There should be some really good opportunities in the upcoming week, and all my ideas are posted in the outlook. I hope you guys find it useful. Let me know what you think.
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The Week Ahead
Posted on 22. Jan, 2011 by Jakob.
Another week has passed and in spite of ending this week the first loss of all signals issued since the beginning of 2011, it has still be an exciting week with a lot of indecision in the market. However, we did end the week with the final push on EUR/USD closer towards the 1.37 level which will be a key area for a lot of traders. Now, with the break of recent highs, I assume we are looking at possible further upside on EUR/USD, and in general, probably a bit more downside to the dollar. Fundamentally speaking, I am a bit more indecisive at the moment. Sure the successful bond auctions is EUR strengthening, but besides from the recent disappointing retails sales I still think that dollar strength will be back in the picture within a fairly short period of time, all depending on future news releases obviously. With that being said, let´s take a look at some possible scenarios for the week ahead.
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mt4pips.com – A new Site from the BabyPips family
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Ranko: I prefer FxStat. I use to use myfxbook. However, n...
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Kerry Kormos: Oh and in addition to my last comment....my wife h...
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sree: www.forexpeacearmy.com website is scam site, no he...
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Joel: Hi, i started out great with Million Dollar Pips o...
