TradeProfits

Economic Calendar on MyFxBook

Posted on 30. Sep, 2010 by Jakob.

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MyFxBook now have an economic calendar similar to the one over at ForexFactory with the typical features. Now do we really need more economic calendars? Just a couple of weeks ago, the BabyPips family also launched a new economic calendar and there are a plenty of others ones out there already. However, there is one particular feature on the calendar over at MyFxBook which I would like to point out; not only is the design of the calendar slick and easy to navigate, but they offer to send you an email xx minutes before a particular news release. Now this is not something I would use today, but I have had this feature when I started out in the forex market, I could have save a lot of money on bad trades entered a couple of minutes before fundamental news releases. If you have this problem, well here is your solution. Check it out over at MyFxBook.

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Jacko’s House of Pleasure and Pain – Mostly Pain

Posted on 23. Sep, 2010 by Jakob.

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A couple of days ago, I was over at the forum of ForexFactory and it seems that there is a new scammer in town. Those of you who have been loyal readers over at the ForexFactory forum probably already know a lot more about this than I do, but I still thought that this is an interesting story to bring up. So this thread “Jacko’s House of Pleasure and Pain”, has been around for ages, and was (as far as I remember) rated a 5-star thread and people were highly positive about this guy Jacko. He spent several years building this thread, giving himself a good name in the ForexFactory community. Now I never really followed this guy or his thread but a lot of people did, and apparently he also had a paid membership blog, and some time ago, he started a privat fund which Jacko was supposed to manage. Now due to his reputation over at ForexFactory, I am sure that a lot of people put a lot of money into this fund, and surprise! Jacko is gone along with all the funds. The thread over at ForexFactory has been downgraded (now only 2- stars! Lol) and there are a lot of unhappy paying customers. I really do hope that the people who lost any money in this scam will somehow be able to get their money back but right now things don’t look too good. This is yet another lesson about this industry filled with scammers – No matter how well you think you know a guy, be careful sending him any of your hard-earned money! Check out the thread here.

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New Forex Calendar from BabyPips

Posted on 23. Jul, 2010 by Jakob.

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Forex calendars are useful for traders who want to stay on top with fundamental news releases which affects the currency market. There are a bunch of them out there, and the most popular one is probably the one over at ForexFactory. BabyPips is one of the most popular forex portals and now they have launched their own Economic news calendar. My first impression is that it is very similar to all the other calendars out there, with a few small differences. One thing they have added is the Session view where you can see in which session a specific news event is coming out (NY, Tokyo, London, Sydney). Then obviously it has a different look and you have some other modification options. However there really aren’t a whole lot of different elements here compared to all the other ones. For those of you who like to have everything in one place, BabyPips economic calendar might be a good option but I will stick the ones I am familiar with. Check out BabyPips economic calendar here.

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ForexFactory Market Data is Live

Posted on 24. Feb, 2010 by Jakob.

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ForexFactory has made another addition to their popular forex portal. On the main page, they have added a new market tab, which will take you to a site where you can see currency pair quotes. First of all, you can see all the major currency pairs, and in different time frames, but the innovative element here is that the quotes are aggregated from multiple brokers. This should give you a more reliable quote, so if the quotes on your trading platform highly diverge from the ones shown on ForexFactory, this should make a bell ring. There are many options on ForexFactory’s new market data site, and I suggest you check it out. You can also read more about it here on their blog, or you can go through the user guide here.

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USDBOT Buzz – Another Scam?

Posted on 22. Feb, 2010 by Jakob.

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Some time ago, I wrote about a new EA here on TradeProfits called USDBOT. I spoke to this guy Mark Trenton (if that is his real name), and he promised to help me out with the launch of Forex Hacking, if I put an ad for USDBOT here on TradeProfits. However, after the launch of USDBOT, Mark was gone and I never heard a word from him again. In addition to this, it seems that the USDBOT is an exact copy of another EA, namely a free one which can be downloaded over at the ForexFactory forum called Opto123. USDBOT was sold for $149, apparently with a bunch of upsells. The people behind USDBOT claim that they bought the EA from a developer, but the creator of Opto123 did not authorize this. After all the buzz, USDBOT was changed to a secondary version, which apparently uses a martingale strategy, which is very likely to blow your account. If you did buy the USDBOT, I suggest you ask for a refund and download the free version. Read more details about this over at 4xProject.

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14 Cool Forex Freebies you should Know About

Posted on 24. Jan, 2010 by Jakob.

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I have posted about most of these before, but I thought I would sum it all up in one post. These are great resources for forex traders, and they are free. Check it out and throw a comment. Do you have any additional ones we should know about? Feel free to share your thoughts. Read more... (1065 words, estimated 4:16 mins reading time)

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Central Bank Gadget from ForexFactory

Posted on 19. Apr, 2009 by Jakob.

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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.