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Saturday, 8 February 2014

Japan data – December preliminary machine tool orders +28.0% (vs. prior +15.4%)

A big result for machine tool orders (albeit this is the preliminary release) Up 28% in December (November was +15.4%) Biggest increase since July 2011 This is a positive sign for the administration of PM Abe.
source:http://chicbull.com/japan-data-december-preliminary-machine-tool-orders-28-0-vs-prior-15-4/
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Forex Trading: How to Detect Scammers

Unfortunately, Forex provides a feeding frenzy for the scammer. This is because Forex has a colossal daily turnover of about three trillion dollars which makes many FX novices think that they can readily obtain a slice of the action. In addition, they are further seduced by powerful publicity that convinces them that they will be rich in no time at all.

However, reality quickly crushes their unrealistic expectations once most Forex beginners commence trading. Their resultant despair and frustrations then make them search desperately for any and all quick-fix solutions. As a consequence, an enormous Forex market is generated by this worldwide phenomenon that is a godsend to FX scammers.

A good way to understand the extent of this problem is to imagine the distribution of Forex traders as a very large pyramid with the 5% of successful traders at the top. If you are a novice, then you will form part of the gigantic base of this structure. Forex scammers usually reside between the top 5% and the bottom 10%. As such, the majority of these individuals are just failed Forex traders.

Basically, they have tried to construct their own FX strategies, but were unsuccessful in solving the many complexities inherent in Forex. They may have even achieved some degree of accomplishment by trading profitably albeit for short periods only. They almost certainly would have failed to cope with the problem of optimization, which is created by Forex constantly changing its trading patterns over time. As many Forex scammers produce Forex robots by coding their flawed trading strategies, it is little wonder that most FX bots do not work. How can you protect yourself from the Forex scammer? Here are some ideas that may help you detect their dross:-

1. You can obtain many clues from their advertising literature. For instance, are there any real specifications stated that can actually be verified? If you find yourself reading just a long driveling sales letter supported by a string of autoresponder letters with ludicrous headings, then you are almost certainly dealing with a FX scam.

2. Does their literature state unrealistic performance factors? If you read statements claiming ‘our product can make you 100% return in a matter of days’ or ’we can help you achieve 100% trading success’, then beware. In reality, such specifications are almost impossible to achieve.

3. The Forex scammer will try to attract your attention by using sensationalized advertisements. For instance, they will make great use of words that generate powerful marketing impacts and will deploy them at all possible opportunities. Such a word is ‘secret’. Watch out for titles such as ‘The Five secrets that Expert Traders are not telling you’ and ‘The Shocking Secrets of Forex’. The only secret that FX scammers possess is how they can produce such prolific amounts of gibbering rubbish.

You must always seek sound Forex education in order to provide yourself with realistic Forex objectives and a powerful trading mindset so that you can prevent yourself becoming the Forex scammer’s next victim.

source:http://chicbull.com/forex-trading-how-to-detect-scammers/

Kewords: Forex Currency Trading, Forex Forecast, Forex Learn Trading, Forex Mini, Forex Mini Account, Forex Mini Trading, Forex Trading, Forex Trading Platform, Forex Trading Software, Forex Market, Forex Strategy, Forex Signal, Forex Forum, Forex News, chicbull.com

EUR/USD took a pause before another attack on 1.37

EUR/USD was trying hard to capture the 1.3690/1.37 resistance area, but its attempts to break the round number barrier have failed, and sent the pair to 1.3633 at the moment.

EUR/USD still has the opportunity to come back to 1.37

The pair is confined to narrow 60-pip range from the beginning of the week, not able to find strong another catalyst to break one of the limits. German real GDP growth is the key event of the European session, and it’s widely expected to slow down to 0.5%. Most probably the release will be largely ignored by the market, but there is a little chance of a stronger number, given the high levels of business activity, and industrial output growth in the largest economy of Europe. The recently released euro zone industrial production only supports the idea of gradual recovery – the numbers came out much better than expected (3.0% against expected 1.8%). Thus, the further rise of EUR/USD is not ruled out with initial target at 1.3705 resistance level followed by 1.3728.

What are today’s key EUR/USD levels?

Today’s central pivot point can be found at 1.3676, with support below at 1.3653 (S1), 1.3624 (S2) and 1.3601 (S3), with resistance above at 1.3705 (R1), 1.3728 (R2), and 1.3757 (R3). Hourly Moving Averages are largely bearish, with the 200SMA at 1.3630 and the daily 20EMA flat at 1.3665. Hourly RSI is neutral at 32.

EUR/USDJan 15 at 06:31 GMT

1.3636/38 (-0.32%)

H1.3683 L 1.3627

S3	S2	S1	R1	R2	R3
1.3596	1.3630	1.3665	1.3717	1.3751	1.3785

Trend Index	OB/OS Index
Data updated on Jan 15 a 06:15 GMT (15-minute timeframe)
Slightly Bullish	Neutral

source:http://chicbull.com/eurusd-took-a-pause-before-another-attack-on-1-37/

Thursday, 6 February 2014

Nikkei closes on its session highs at 15,808.73

+2.5% +386.33 open 15,649.07 high 15,792.14 low 15,636.57 USDJPY 104.42 Yet another late rally for the index but USDJPY not so keen to go with it suggesting decent resistance at 104.50
source:http://chicbull.com/nikkei-closes-on-its-session-highs-at-15808-73/
Kewords: Forex Currency Trading, Forex Forecast, Forex Learn Trading, Forex Mini, Forex Mini Account, Forex Mini Trading, Forex Trading, Forex Trading Platform, Forex Trading Software, Forex Market, Forex Strategy, Forex Signal, Forex Forum, Forex News, chicbull.com

Self-sustaining recovery has begun in richer economies – World Bank

According to a World Bank report, a ‘self-sustaining recovery’ has begun in richer economies.

In the report it was highlighted that if “taper causes rapid interest rate adjustments, countries with large current account deficits or high debt levels would be most vulnerable.”

As per worries of the QE unwinding, the report sees “likely smooth unwinding from quantitative easing polices in advanced economies.”

The World Bank also announced a cut in the 2014 growth forecast for developing countries to 5.3% (from 5.6 pct in June), while projecting global GDP growth further strengthening to 3.4% in 2015 and 3.5% in 2016.

Lastly, the report has raised 2014 world growth forecast to 3.2% vs 3.0% projected in June, saying, as stated above, that ” a self-sustaining recovery has begun in richer economies.”

source:http://chicbull.com/self-sustaining-recovery-has-begun-in-richer-economies-world-bank/

What is a Hammer?

One of the most important candlestick formations that a trader can learn is without a doubt the “Hammer” or “Shooting Star”. In a nutshell, these candles can show a potential reversal of the trend. They tend to congregate at important inflection points in the markets, and can often predict a sudden move in the other direction.

One of the main reasons they work is that so many people are familiar with them. It is probably the first candlestick a lot of traders learn. While they have different names, they are essentially the same thing: A representation that exhaustion is setting in for the market and it could reverse course soon.

The names are used depending on what direction the market is heading. When the market has been rising, the formation is called a shooting star. When the market has been falling, it is called a hammer, mainly because of the fact that it looks like one. When you see one of these candles, it might be time to get ready to head in the other direction soon. Having said that, let’s take a look at these formations:

As you can see from the “shooting star”, a long wick has formed above a fairly neutral finished. Neither the buyers nor the sellers took control during this candle. However, one important clue has been left behind: the long wick on top. This shows that although the buyers did manage to push prices higher, they failed to hold them up there. This shows what is known as “exhaustion” in the markets, and signifies that buyers are probably going to struggle to continue to move prices higher.

On the “hammer” candle pictured above, you can see very similar facts, except in opposite terms. The sellers did manage to push prices lower, but didn’t hold the market down there. The shows that they may be running out of conviction, and might struggle to take the market lower in the future as well.

The important thing about these candles is that they be positioned at a swing high, in the case of the shooting star, or a swing low, in the case of the hammer. By being at a recent high or low, it shows that the momentum is slowing. This signals a possible change in direction as strength is waning in the recent movement. For example, it price has been climbing for weeks in the market you are trading and a shooting star appears one day, this could be a sign that the strength of the move is failing. (They all do eventually.)

The length of the wick is important as well. It shows just how far the buyers, in the case of the shooting star, actually managed to push prices – only to fail. So not only does it show the attempt, but it also shows exactly how hard the sellers pushed back! (Vice versa for the hammer.) This is an important clue as is shows that the momentum is swinging in the other direction. In fact, the longer the wick, the better.

source:http://chicbull.com/what-is-a-hammer/

Forex Auto Traders: A Scam or A Gold Mine

the rapid speed at which the Forex market is growing has many consequences, some better than others. On the one hand, there are endless resources online for learning and becoming an expert on the largest most lucrative market in the world. There are also many more people around the world who are spending their days and nights testing out the waters of Forex trading.

Other positive outcomes of Forex growth are more Forex brokers and services from which a trader can choose. On the other hand, the growing popularity of Forex brings with it some problems that require caution on the part of the Forex trader. One of the biggest issues in today’s online Forex community, as well as the general Web community, is spam. When it comes to surfing the web and encountering annoying popups or receiving bogus emails, as annoying as these occurrences are, 99% of the time, they are annoying and nothing more. Of course, there is the occasionalsca online m, but with the widespread use of online communication such as email, messenger, and social media, most people know to stay away from those types of things.

When it comes to Forex spam, however, it is a totally different ball game. There is money to be lost as a result of the different types of Forex spam that traders encounter on a daily basis. The most common type of Forex spam is advertisements for Forex robots or auto trading systems. The big question regarding these auto traders is “Are they all bad? Are there some legitimate ones and are they worth trying”? The answer is that they are NOT all spam and that there is a LOT of money to be made by using auto traders, but for that, you need to do your homework.

An Introduction to Auto Traders

First, let’s try to understand why one would use an auto traderhttp://chicbull.com/forex-auto-traders-a-scam-or-a-gold-mine/ and what are its advantages? As, we have written before, one of the biggest downfalls of the Forex trader is emotion. While being in touch with your emotion will get you far in life, it will set you back in your Forex trading. It is important to set yourself a trading strategy and stick to it, NO MATTER WHAT. This is harder than it sounds. Just imagine you define your trading technique, and for days, all you see are losses. Are you telling me your emotion would not kick in?

Alternatively, if you are seeing constant profits, would you not be swayed by greed to trade more money? This does not make you a bad trader, this makes you human. For this reason exactly, it is a smart tactic to remove the human factor from your trading. The way to do this is to automate your transactions.

There are many auto traders out there that perform technical analysis and decide when to open or close trades, while its primary “concern” is to keep you on the winning side. Unlike Forex brokers, who occasionally profit from your loss, auto traders work for you and not against you. Another reason to use auto traders is that they can trade 24 hours a day, even when you are not near your computer.

Imagine, you can be at a friend’s party and find out that you just made a huge profit, it’s like the feeling you get when finding money in your pocket multiplied by 100. Let the auto trader do all the work while you sit back and enjoy the fruit.

Finally, auto traders can be a great and effective trading tool for any Forex trader, no matter how experienced they are. However, it offers a huge advantage to new traders. They do not need to know the market, how to read the charts, or what a certain currency will do in the market today. Essentially, you do not need to know anything about the Forex market, and you can become a very successful Forex trader.

Choosing An Auto Trader

Now that we have established that Forex auto traders can be a wonderful thing for traders, how do you choose one? There is no one way to decide which auto trader to use. An important and crucial tip in ensuring your auto trader is legitimate and will bring you profits and not losses, is of course to read reviews. You can read professional reviews as well as user reviews, but make sure these are objective opinions and not written by the people who are behind the system that is being reviewed.

Another way to take precautions before buying a Forex auto trader is to look for a few signs when examining the company at hand. Here are a few questions you should ask yourself when choosing a Forex auto trader:

1: Do they offer a money back guarantee? Most reputable auto traders are so confident that their product works, they will offer a money back guarantee ranging anywhere from 30-60 days after the purchase. This means if you buy the software and realize soon after, it is not for you, you can receive a complete refund. This is

source:http://chicbull.com/forex-auto-traders-a-scam-or-a-gold-mine/