Forexgen Trading

Dez 29, 2008 at 00:59 o\clock

US Dollar Consolidation Could Yield Breakouts as Liquidity Returns

by: fxgentrading   Keywords: US, Dollar, forexgen


Fundamental Outlook for US Dollar: Bearish
 
 - US personal spending contracted for the fifth straight month in November as jobless claims held near 26-year highs
- US durable goods order fell less than expected, helped by an increase in defense spending and business investment
- US retail sales tumbled during December despite aggressive discounting, according to SpendingPulse

The US dollar has spent the past week consolidating within thin ranges, as low volumes did little to spark directional trade. This left the greenback down 1 percent against the euro and up roughly 1.5 percent versus the British pound and Japanese yen by Friday’s close. In the coming week, the US markets will be closed on January 1 for New Year’s Day, and low liquidity conditions could persist as scattered financial markets around the globe will also be closed on Wednesday and Thursday. Meanwhile, there will be a bit of event risk on hand, leaving potential open for volatility to pick up a bit.

On Tuesday at 9:00 ET, the S&P Case-Shiller Home Price Index for the month of October is anticipated to fall by a record 17.8 percent from a year earlier, highlighting the extent of the collapse in the US housing sector. At 10:00 ET, the Conference Board’s Consumer Confidence Index for the month of December is expected to edge up to 45.5 from 44.9. This would mark the second improvement in a row, but it’s necessary to keep these figures in perspective, as the record low of 38.8 going back to 1967 was just realized in October, down significantly from the index’s average of more than 100 throughout 2006 and 2007.

Indeed, the outlook for consumption remains bleak, especially as aggressive discounting by retailers was not able to prevent holiday spending from slumping 4 percent in December from a year earlier (excluding gasoline), according to SpendingPulse. On Wednesday, initial and continuing jobless claims are likely to hold near their highest levels since late-1982, boding ill for the January 9 release of US non-farm payrolls. Finally, on Friday, the Institute for Supply Management’s index of manufacturing conditions during December may fall to the lowest levels since 1982, while the record low of 29.4 reached in May 1980 looming close below.

[Why ForexGen]

1. Lowest spreads in the market with 0-1 pips in 10 pairs, no commissions, no swaps and instant account Activation.
2. Scandinavian quality with Swiss precision, funds secured and local agents in 18+ countries.
3. ForexGen offers Forex trading in the major currency pairs and crosses.
4. Low capital start, with $250 as a minimum account size.
5. Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.
6. ForexGen offers a free trial Forex [demo account] that allows you to test your skills and practice without risking real money.

We consider every client as a special case, a VIP and a partner. A client's profit is our success and a client's loss is a significant call of action for us. Customer care is the heart of our business, we know every client on personal bases as we provide 24/7 customer support.
We keep contact with our clients to ensure that we are on the right track. Leading our client relationship to success is our focus.
Let [ForexGen] prove to you that you have taken the right step by choosing our partnership.



Dez 26, 2008 at 04:35 o\clock

All central banks, and the U.S. Federal Reserve System (FRS) as well

by: fxgentrading   Keywords: Federal, Reserve, System, foreign, exchange, markets, exchange


All central banks, and the U.S. Federal Reserve System (FRS) as well,
affect the foreign exchange markets changing discount rates and performing the monetary operations (as interventions and currency purchases).

For the foreign exchange operations most significant are repurchase agreements to sell the same security back at the same price at a predetermined date in the future (usually within 15 days), and at a system.specific rate of interest. This arrangement amounts to a temporary injection of reserves into the banking.

READ THE FULL POST HERE

Dez 26, 2008 at 02:52 o\clock

Short-Term, High-Frequency Day Trading

by: fxgentrading   Keywords: currencies, spreads



Short-term trading in currencies is unlike short-term trading in most other markets. A short-term trade in stocks or commodities usually means holding a position for a day to several days at least.

But because of the liquidity and narrow bid/offer spreads in currencies, prices are constantly fluctuating in small increments. The steady and fluid price action in currencies allows for extremely short-term trading by speculators intent on capturing just a few pips (explained in Chapter 2) on each trade.

Short-term forex trading typically involves holding a position for only a few seconds or minutes and rarely longer than an hour. But the time element is not the defining feature of short term currency trading. Instead, the pip fluctuations are what’s important. Traders who follow a short-term trading style are seeking to profit by repeatedly opening and closing positions.

After gaining just a few pips, frequently as little as 1 or 2 pips. In the interbank market, extremely short-term, in-and-out trading is referred to as jobbing the market; online currency traders call it scalping. (We use the terms interchangeably.) Traders who follow this style have to be among the fastest and most disciplined of traders because they’re out to capture only a few pips on each trade. In terms of speed, rapid reaction and instantaneous decision-making are essential to successfully jobbing the market.

[ForexGen Introducing Brokers]

Introducing Brokers may be individuals or institutions who gain their income from the commissions and/or rebates by introducing customers to ForexGen trading.

WHAT are the advantages of being an INTRODUCING BROKERS with ForexGen?

* Providing the most huge income sharing plan
* Providing several ways for our IB's to charge commission.
* ForexGen IB can also charge commission for each lot the traders execute.
* Moreover, ForexGen IB is able to increase the spread for all or certain clients and have ForexGen Investments rebate the difference.

In case the IB does not increase the spread or charge their clients a commission, ForexGen rebate the IB a minor predefined amount for every client's executed lot.
Commission is paid out every month.

Individualized service

[ForexGen] offers our IB's individualized service created according to the individual needs and specified business situation for each IB.
Our Introducing Broker program provides a highly organized program for individualized services and organizations in order to introduce their clients to the online foreign currency exchange market, moreover they will enjoy the benefits of being a part of the ForexGen family.

ForexGen offers 1 pip spread on 10 pairs with high trading techniques that make [ForexGen]
incomparable to any other rival.


Dez 25, 2008 at 00:06 o\clock

EUR/CAD Day Trend

by: fxgentrading   Keywords: EUR, CAD, ForexGen, Services


You will generally see the trend begin to flatten out and begin to trade within a defined and repeated level of support and resistance. We would like to see this on a Daily and/or 4 hour chart...a range on "minute charts" is not established enough to trade without a greater element of risk.

Ideally, one would want to see at least two tests of support and resistance before declaring a range to be in place.

To trade a range, a trader would go long at support with a stop just below support or short at resistance with a stop just above resistance. The higher probability range trades will be those in the direction of the overall trend on the Daily chart. Also, when price action breaks out of the range, the breakout will likely (although no guarantees) be in the direction of the trend.


[ForexGen Services]

Client Services
  • Customer Support
  • Trading Support
ForexGen Partnership

ForexGen offers three types of business partnerships.

* [Introducing Broker]
* [White Label]
* [Money Manager]

ForexGen Introducing Brokers ,White Label and Money Manager holders are recognized as a strategic business partners. The main focus of our service is to satisfy our partner's needs in order to deal with a qualified service and gain a large income sharing plan.

[ForexGen] provides appropriate services satisfying the needs of all business partner's specified situation and requirements.



Dez 23, 2008 at 20:36 o\clock

USD/CAD: Trading the Canadian GDP Release

by: fxgentrading   Keywords: Canadian, Gross, ForexGen, Services



The Canadian dollar could face increase selling pressures over the next 24 hours of trading as market participants forecast GDP to contract 0.3% in October. Growth prospects for the world’s eighth largest economy have weakened considerably throughout the fourth quarter as firms cutback on employment and reduced spending.

Trading the News: Canadian Gross Domestic Product

What’s Expected

Time of release: 12/24/2008 13:30 GMT, 08:30 EST

Primary Pair Impact : USDCAD

Expected: -0.3%

Previous: 0.1%

Impact the Canadian GDP numbers had on USDCAD over the last 3 Quarters







September 2008 Canadian Gross Domestic Product

The Canadian economy grew 0.1% in September, while the annual rate of growth increased 1.3% amid expectations for a 1.1% rise. The breakdown of the monthly report showed that construction fell another 0.4% following a 0.2% decline in the previous month, while industrial production slipped 0.3% from August. Meanwhile, the Bank of Canada expects economic activity to grow at an annual pace of 0.6% in 2008 and 2009, which is the slowest pace for growth in over a decade, and conditions may only get worse as demands from the global economy falter. Mounting growth fears have already raised speculation that policymakers will continue to lower borrowing costs well into the next year as growth prospects weaken further, and may hold a dovish outlook throughout the coming months as price pressures alleviate.

August 2008 Canadian Gross Domestic Product

Economic activity in Canada contracted 0.3% in August, and conditions are likely to get worse as demands from home and abroad deteriorate. The breakdown of the report showed that wholesaling activity plunged 3.1% from the previous month, which was followed by a 1.1% decline in manufacturing. Weakening fundamentals paired with the spillover effects of the global credit crunch have stoked fears that the world’s eighth largest economy will face a recession as trade conditions deteriorate, which could lead the Bank of Canada to ease policy further over the coming months in order to stave off a severe downturn in the economy. The BoC stated that they expect economic activity to weaken further throughout the rest of the year as the major economies around the world head into a recession, which could stoke increased selling pressures for the loonie going forward.

July 2008 Canadian Gross Domestic Product

The Canadian economy expanded 0.7% in July, to reach its fastest pace of growth since March 2004. The breakdown of the report showed that manufacturing activity increased to 1.3% from the previous month, which was followed by a 3.1% gain in energy production. Despite the bigger than expected rise in GDP, the downturn in the U.S. paired with the spillover effects of the credit crunch has sparked fears of a global recession, which has raised speculation that the Bank of Canada will opt to lower the interest rate as demands from the global economy falter. Moreover, the recent pullback in oil prices has certainly helped to anchor inflation expectations, and only strengthens the argument for the BoC to lower borrowing costs as growth prospects for the major economies around the world deteriorate.

How To Trade This Event Risk

The Canadian dollar could face increase selling pressures over the next 24 hours of trading as market participants forecast GDP to contract 0.3% in October. Growth prospects for the world’s eighth largest economy have weakened considerably throughout the fourth quarter as firms cutback on employment and reduced spending.

The Canadian economy lost 70.6K jobs in November, which was the biggest decline since 1982, and raised the unemployment rate to a two-year high of 6.3% from 6.2% in the previous month. In addition, business spending fell to a record low during the same period as the Ivey PMI slipped to 40.2 from 52.2 in October. The downturn in the domestic economy has certainly dragged on growth as retail spending fell 0.9% in October, and the growth outlook for Canada may weaken further as demands from the global economy deteriorate. Trade conditions for the second consecutive month in October as the trade surplus narrowed to 3.8B from 4.3B, and conditions are likely to get worse over the coming months as the U.S., Canada’s biggest trading partner, heads into its longest recession in over a quarter century. Meanwhile, the Bank of Canada stated that the economy ‘is now entering a recession’ at the December 9th policy meeting, and as a result, policymakers lowered the benchmark interest rate by 75bp to 1.50% - the lowest level since 1958. In addition, the BoC forecasts inflation to fall to 1.6% during the second half of 2009, which could lead the central bank to lower borrowing costs even further as they carry out their dual mandate to ensure price stability while fostering economic growth.

[ForexGen Services]

Client Services
[Customer Support]
[Trading Support]

[ForexGen Partnership]

ForexGen offers three types of business partnerships.

* [Introducing Broker]
* [White Label]
* [Money Manager]

ForexGen Introducing Brokers ,White Label and Money Manager holders are recognized as a strategic business partners. The main focus of our service is to satisfy our partner's needs in order to deal with a qualified service and gain a large income sharing plan.
[ForexGen] provides appropriate services satisfying the needs of all business partner's specified situation and requirements.

ForexGen offers 1 pip spread on 10 pairs with high trading techniques that make ForexGen
incomparable to any other rival.



Dez 23, 2008 at 01:55 o\clock

NZDUSD Pares Gains, Offers Range Trade Opportunities

by: fxgentrading   Keywords: Money, Manager, NZDUSD, Pares

As liquidity drops in the currency market through the last two weeks of the year, the likelihood of a NZDUSD breakout is minimal. With volume steadily falling, volatility is likely to increase throughout the market, but the lack of momentum behind previous trends paired with risk aversion should hold the pair within range throughout the coming weeks.

Why Would NZDUSD Hold a Range?

·Levels to Watch:

-Range Top: 0.6100 (Trend, SMA)
-Range Bottom: 0.5200 (Double Bottom)

·Amid an eventful US calendar, liquidity tends to drop significantly during the last two weeks of the year as traders round-trip their open positions ahead of the holiday weekend. As trading volume tapers over the next two weeks, a major breakout is highly unlikely, and the NZDUSD should hold its broad range through thin markets.

· The NZDUSD snapped back last week to cross above the 21.4% Fib and the 50 Day SMA, but the lack of momentum to push higher has held the pair in a downward trend. On 12/18, we saw the NZDUSD surge to an intraday high of 0.6086, but failed to hold its gains as the pair ended the session lower, which suggests that forex traders remain bearish against the pair.

Suggested Strategy

·Short: Half sized entry orders will be set at 0.5650 – the 50 Day SMA

·Stop: An initial stop at 0.5790 is sufficient as trading volume plummets. To secure profit, move the stop on the second lot to breakeven when the first target hits.

·Target: The first objective equals risk (140) at 0.5510. The second target will be 0.5350.

Trading Tip – As liquidity drops in the currency market through the last two weeks of the year, the likelihood of a NZDUSD breakout is minimal. With volume steadily falling, volatility is likely to increase throughout the market, but the lack of momentum behind previous trends paired with risk aversion should hold the pair within range throughout the coming weeks. Moreover, as the interest rate outlook for the New Zealand dollar dwindles, the probability for an upside surprise is negligible. The strategy discussed holds in line with the dominant bear trend, and takes into consideration the impact of the fundamental event risks scheduled for the week. We will cancel open orders before the New Year or should spot hit 0.6000 before we initial a trade.

Event Risk New Zealand and US

New Zealand – The third quarter GDP reading scheduled for Monday will play a key role for our short NZDUSD trade as economic activity is expected to contract further throughout the second half of the year. As growth prospects deteriorate at a rapid pace paired with easing price pressures, the interest rate outlook for the New Zealand dollar is likely to weaken further as the $128B economy faces its worst recession in 18 years. Meanwhile, the M3 money supply release has had little or no impact the past, nevertheless traders may react to the release as the global economic calendar remains fairly light for the week beginning December 29th.

US – The event risks scheduled for the US is likely to spark volatility throughout the forex market as the economic docket is filled with tier-one data. The final 3Q GDP reading scheduled for Tuesday will kick-off the slew of market moving data for the week, and a remarkable revision in any of the more important component readings could certainly weigh on the dollar as growth prospects deteriorate.

Also due that day is a trio of housing indicators. Housing prices, new home sales and existing home sales will give a broad reading on the original catalyst for the economic downturn. The likelihood for an enhanced reading remains bleak as credit conditions remain far from normal. Meanwhile, as investors continue to curb their appetite for risk, the greenback could benefit from its safe haven status as the flight to quality continues.

[ForexGen Money Manager]

An individual who is responsible for the entire financial portfolio of another individual or another entity. A money manager receives payment in exchange for choosing and monitoring appropriate investments for the client.

Benefits of being a Money Manager with [ForexGen]:

* Providing three different commission sources.
* Weekly commission plan.
* Easy & fast commission withdrawals.
* Fixed percentage of the profits.
* P = k * D “P=Profit, k=Variable Parameter, D=Deposits”

The money manager gets a fixed percentage of the profit previously agreed upon with the client for managing the client funds as a bonus feature.

The most competitive trading conditions:

* 2 pips spread on six currency pairs.
* Providing online trading services without maintenance margin, margin call and no automatic closing of positions below the initial margin on weekdays for accounts with initial equity of up to $1 million US. The margin level have to be recognized Fridays at 23:00 CET and before public holidays.
* Leverages up to 1:200 for accounts up to $1 million US.
* Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.


Dez 22, 2008 at 02:48 o\clock

Irish Bargain-Hunters Invade Northern Ireland

by: fxgentrading   Keywords: Irish, recession, Money, Manager



Irish recession, record-strong euro means Christmas boom for Northern Ireland shops

Northern Ireland (AP) -- Recession fears across Europe have consumers spending less and retailers fearful of the future. But one Northern Ireland border town is enjoying the biggest shopping spree in its history.
A record-strong euro and deepening recession in the neighboring Republic of Ireland have turned Newry in recent months into the most intensively shopped spot in Ireland -- if not the continent. The 5-mile (8-km) traffic jams and patience-shattering hunts for a parking spot are already the talk of the island.
The phenomenon could reach its peak this weekend before Christmas as tens of thousands travel from up to 12 hours' drive away to cash in on Northern Ireland shops pricing goods in record-cheap British pounds.

"No, never been to the 'black north' before. Never seen any reason to come," said Sean Magee, 35, a short-of-work construction worker from faraway Limerick, southwest Ireland, in the parking lot of Newry's glitziest shopping center, the 55-shop Quays.
Magee bore the broadest of smiles and the fullest of shopping carts. He and his two friends, who had traveled eight hours by work van the night before and slept rough in the back, were pushing similar loads of beer, cider and liquor -- much of it produced in the Irish Republic yet available for less than half the price in Northern Ireland.
"Never bought so much booze in one go before, but you'd be crazy not to. Think I'm good 'til St. Pat's," Magee said, referring to Ireland's national holiday of St. Patrick's Day on March 17. "And this is sure to be a New Year's to remember!"

Then he donned his best Arnold Schwarzenegger-as-Terminator accent and cast a cold eye back on the shopping center. "I'll be back," he said to laughter all around.
Veteran shoppers, store owners and retail experts long have watched the ebb and flow of shoppers across Ireland's border. Different sales-tax policies and the shifting values between the north's British pound versus the euro -- and, before 2002, the old Irish punt -- usually have meant particular goods were cheaper on one side than the other.
But never like this since Ireland's partition in 1921. These days, about the only thing cheaper in the south -- increasingly decried by shoppers as "the Rip-off Republic" -- is the vehicle fuel required to make the trip north.

Several months ago, the pound was worth 50 percent more than the euro, yet many British-priced goods already were cheaper than in the independent south. That reflects the better economies of scale and higher commercial competition in the United Kingdom versus the Irish Republic.
Today, thanks to a perfect storm of cross-border contrasts -- the euro is approaching parity in value with the pound, the British have cut sales tax while the Irish have raised theirs, and British retailers are slashing prices because of recession in Britain rather than boom in Northern Ireland -- savings for north-bound shoppers are at least 30 percent and usually more, depending on what you're buying.
For Fiona O'Mahony, a mother of two from the Dublin suburbs, it's all about the nappies, a.k.a. diapers.
"Pampers are a big part of the household budget these days. It's not festive, but it's reality," said O'Mahony, 32, whose cart was full of diapers, formula and children's clothes.

O'Mahony left behind the kids with hubbie for a cross-border raid with her girlfriends, who traveled up by convoy to ensure they could carry a maximum load back. They had debated whether to fly to New York City for Christmas shopping -- like they did at least annually, cashing in on the weak U.S. dollar during Ireland's Celtic Tiger boom that died last year -- but decided that Ulster was a better fit for newfound recession.
"No more 'Sex and the City' for us," she quipped. Instead, Belfast will substitute for New York as the girls planned deeper excursions into British territory over the weekend, reaching the mecca of many southern explorers -- Ireland's only Ikea, east of Belfast -- on Sunday.
"We'll never make it. We'll never have the room. I'll have to post one of the girls back to Dublin," she said.

The daily battle of Newry begins at dawn, as shoppers leave their hotel rooms -- like gold dust at the moment -- or arrive before 8 a.m. openings in vain hope of beating the build-up of traffic back to the border a few miles (kilometers) away.
Peter Murray has been general manager of Newry's oldest shopping center, the 60-shop Buttercrane, for the past 20 years and seen good times and bad -- and nothing like this.
"Newry is bucking all the doom and gloom thanks to the biting recession down south and the amazing power of the euro," Murray said.
He said the Buttercrane alone was getting about 200,000 shoppers a week -- this in a city with a population under 50,000 -- and shops were reporting 125 percent growth in sales from customers using euros.

[ForexGen Money Manager]

An individual who is responsible for the entire financial portfolio of another individual or another entity. A money manager receives payment in exchange for choosing and monitoring appropriate investments for the client.

Benefits of being a Money Manager with [ForexGen]:

* Providing three different commission sources.
* Weekly commission plan.
* Easy & fast commission withdrawals.
* Fixed percentage of the profits.
* P = k * D “P=Profit, k=Variable Parameter, D=Deposits”

The money manager gets a fixed percentage of the profit previously agreed upon with the client for managing the client funds as a bonus feature.

The most competitive trading conditions:

* 2 pips spread on six currency pairs.
* Providing online trading services without maintenance margin, margin call and no automatic closing of positions below the initial margin on weekdays for accounts with initial equity of up to $1 million US. The margin level have to be recognized Fridays at 23:00 CET and before public holidays.
* Leverages up to 1:200 for accounts up to $1 million US.
* Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.




Dez 22, 2008 at 02:05 o\clock

The Job of the Forex Day Trader

by: fxgentrading   Keywords: day, trading, forex, market, Forex, day, trader


Can be very lucrative. No matter what type of market you chose to day trade you must know the "personality" of the market you are trading. Every market has its own characteristics and it is important to know what they are before attempting to profit from it. The forex market is no different. In this article we will go over very important general day trading principles/rules and then we will see what a day trader has to recognize when specifically day trading the forex market.

As the term implies, day traders are concerned with what happens in the market today. Not tomorrow, not next week and not next month, but today. Forex day trader's job is to capture intraday price swings. Depending on the system or trading method employed, this can mean capturing one intraday swing or various intraday swings.

The general job of a Forex day trader is: To be disciplined.



[ForexGen Customer & Trading Support]

ForexGen Customer Service seeks to achieve the highest level of customer satisfaction.

[ForexGen online trading services] are available 24 hours a day from Sunday at 6:00pm EST to Friday at 2:00pm EST to support and offer the help needed by all ForexGen's clients through answering any questions they may have.
ForexGen provides full time assistances to support clients during the usage of [ForexGen platform], whenever our clients face any problems during downloading or installing the platform ForexGen experienced stuff will help to overcome it.

ForexGen provides clients with full scale demonstrations and help for the technical issues.

Dealing Rooms.

ForexGen dealing desk representatives are available during trading hours - 24/5 from Sunday 6:00pm EST to Friday at 2:00pm EST.

You are encouraged to contact the dealing room by phone ONLY in these situations:

* If you are not able to access the internet.
* Failing to receive a confirmation on an online order.
* Failing to connect to ForexGen server.




Dez 19, 2008 at 03:19 o\clock

Canadian Dollar Forecast Unclear Against US Dollar

by: fxgentrading   Keywords: Canadian, Dollar, Forecast

USD/CAD Ratio: -1.02

Signal: Bullish


USDCAD – The ratio of long to short positions in the USDCAD stands at 1.07 as nearly 52% of traders are long. Yesterday, the ratio was at -1.05 as 51% of open positions were short. In detail, long positions are 1.7% higher than yesterday and 50.6% weaker since last week. Short positions are 8.9% lower than yesterday and 11.1% stronger since last week. Open interest is 3.7% weaker than yesterday and 56.7% below its monthly average. The SSI is a contrarian indicator and signals more USDCAD losses.

[ForexGen Introducing Brokers]

Introducing Brokers may be individuals or institutions who gain their income from the commissions and/or rebates by introducing customers to ForexGen trading.

WHAT are the advantages of being an INTRODUCING BROKERS with ForexGen?

* Providing the most huge income sharing plan
* Providing several ways for our IB's to charge commission.
* ForexGen IB can also charge commission for each lot the traders execute.
* Moreover, ForexGen IB is able to increase the spread for all or certain clients and have ForexGen Investments rebate the difference.

In case the IB does not increase the spread or charge their clients a commission, ForexGen rebate the IB a minor predefined amount for every client's executed lot.
Commission is paid out every month.

Individualized service

[ForexGen] offers our IB's individualized service created according to the individual needs and specified business situation for each IB.
Our Introducing Broker program provides a highly organized program for individualized services and organizations in order to introduce their clients to the online foreign currency exchange market, moreover they will enjoy the benefits of being a part of the ForexGen family.

ForexGen offers 1 pip spread on 10 pairs with high trading techniques that make [ForexGen]
incomparable to any other rival.

Dez 18, 2008 at 01:33 o\clock

When to EXIT a Trade?

by: fxgentrading   Keywords: Trade, Special, Promotion


The best time to exit a trade is when the price crosses back down through all 3 EMA’s on the chart. Notice in the above example that the Dark Blue line—the actual price of USD/CHF on the 20th crossed back down all three indicators where I circled EXIT. If you held this position all week, you could have made a 275 pip profit.

With 1 lot traded on a standard account this would have been approximately $1780.00 in profits. With 2 lots--$3560! A mini account would have profited you $178 and $356 respectively.
If you profited 275 pips with EUR/USD or GBP/USD you would have made approximately $10 per pip, which you would have made $2750 with one lot and $5500 with 2 lots traded. Not bad for one week!

[Claim Your Bonus with ForexGen]

Special Promotion for New Clients


Free cash bonus when you open your new live account withen the next 30 days. You will recieve a FREE cash bonus which will be added to your trading account. The cash bonus depends on the account type you open.

Account Type       Account Type
Mini Account            Standard Account
Free Cash Bonus Free Cash Bonus
10% of your deposit 10% of your deposit
maximum $250         maximum $500

To be able to withdraw your free cash bonus, you need at least to open 20 trading lots in period not exceeds 3 months.For more information about our current and future [ForexGen] promotions, contact one of our customers support agents at promotions@forexgen.com

Dez 17, 2008 at 00:02 o\clock

Moody's downgrades American Axle ratings

by: fxgentrading   Keywords: Motors, Corp


Moody's sends American Axle ratings deeper into junk territory on falling auto production

NEW YORK (AP) -- Moody's Investors Service sent its ratings on auto parts supplier American Axle & Manufacturing Holdings Inc. deeper into junk status on Tuesday, citing falling automobile production levels and the company's heavy reliance on General Motors Corp. for business.


The credit ratings agency lowered its corporate family rating and probability of default rating two notches to "Caa1" from "B2" and is reviewing the new ratings for another possible downgrade.

Moody's also lowered American Axle's unsecured guaranteed notes to "Caa2" from "B2," its unsecured convertible notes to "Caa2" from "B2" and its speculative-grade liquidity rating to "SGL-4" from "SGL-3."

It affirmed its bank credit facilities at "B2."
Moody's attributed the new ratings to widespread production cuts at the Detroit Three automakers. General Motors, Ford Motor Co. and Chrysler LLC have been slashing production recently to cope with the collapse in vehicle sales.
In addition, Moody's said American Axle receives a large portion of its business from GM, which could cause operating disruptions for the company if it or another U.S. automaker files for bankruptcy.
GM and Chrysler have warned that they are rapidly burning through cash and are counting on a rescue from the federal government to keep them alive through the end of the year. The Bush White House has said it is open to tapping money from the $700 billion bailout of Wall Street passed in October to help the automakers, but has not said when the money might be made available.

Shares of American Axle rose 18 cents, or 8 percent, to close at $2.43.

 

  1. Lowest spreads in the market with 0-1 pips in 10 pairs, no commissions, no swaps and instant account Activation.
  2. Scandinavian quality with Swiss precision, funds secured and local agents in 18+ countries.
  3. ForexGen offers Forex trading in the major currency pairs and crosses.
  4. Low capital start, with $250 as a minimum account size.
  5. Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.
  6. ForexGen offers a free trial Forex demo account that allows you to test your skills and practice without risking real money.

Dez 16, 2008 at 21:03 o\clock

Dollar Lower vs Pound in Late Trading

by: fxgentrading   Keywords: ForexGen, Services, dollar, fell


Dollar gives back some gains against the British pound in trading late Monday

The dollar fell against the pound in late New York trading Monday night. The pound rose to $1.5303 from $1.5253 in late afternoon trading on Monday.

On Friday afternoon, the pound was worth $1.4969.

[ForexGen Services]

Client Services
[Customer Support]
[Trading Support]

[ForexGen Partnership]

ForexGen offers three types of business partnerships.

* [Introducing Broker]
* [White Label]
* [Money Manager]

ForexGen Introducing Brokers ,White Label and Money Manager holders are recognized as a strategic business partners. The main focus of our service is to satisfy our partner's needs in order to deal with a qualified service and gain a large income sharing plan.
[ForexGen] provides appropriate services satisfying the needs of all business partner's specified situation and requirements.

ForexGen offers 1 pip spread on 10 pairs with high trading techniques that make ForexGen
incomparable to any other rival.

Dez 16, 2008 at 03:18 o\clock

W.Va. jobless rate rises to 4.2 percent in Nov.

by: fxgentrading   Keywords: trade

West Virginia's unemployment rises to 4.2 percent in November, up slightly from prior month

CHARLESTON, W.Va. (AP) -- West Virginia's unemployment rate increased in November as job losses occurred in construction, manufacturing and several other sectors.

Workforce West Virginia said Monday that November's unemployment rate was 4.2 percent, up 0.3 percent from October.

Construction lost 900 jobs and manufacturing lost 300. Natural resources and mining gained 200 jobs.
In the service-providing sector, trade, transportation and utilities saw a seasonal gain of 1,800 jobs and government added 1,000 jobs. But leisure and hospitality saw a seasonal loss of 1,000 jobs.

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Dez 15, 2008 at 21:13 o\clock

Industrial Output Fell Less Than Expected in Nov.

by: fxgentrading   Keywords: economy, ForexGen


Industrial output fell in November as weakness in autos, other industries depressed activity

Industrial output fell slightly less than expected in November as manufacturers continued to suffer from weakness in autos and many other areas that is not expected to ease anytime soon.

The Federal Reserve reported Monday that industrial activity dropped by 0.6 percent in November. Economists expected a decline of 0.8 percent.

The manufacturing sector is suffering like the rest of the economy from the deepening recession, which has cut consumer demand for many products.

"Manufacturing production tanked in November and the data were even worse than they look," said Joel Naroff, chief economist at Naroff Economic Advisors. "The only industry that posted a gain was aircraft and that was only because Boeing started back up after the strike."

The 0.6 percent drop in November followed a revised 1.5 percent increase in October. However, that gain occurred after a 4.1 percent plunge in September, which represented the biggest one-month drop since a 5 percent decline in February 1946.

For November, manufacturing output was down 1.4 percent, reflecting a 2.8 percent decline in production at auto plants, the third drop in the past four months. Production fell by a huge 11 percent in August and 3.6 percent in October.

Detroit automakers last week got turned down in a bid for a bailout package from Congress when Senate Republicans insisted the auto unions agree to wage cuts. General Motors Corp., Chrysler LLC and Ford Motor Co. all are seeking assistance, but the prospects at GM are considered the most dire.

After a weekend trip to Iraq and Afghanistan, President George W. Bush told reporters on Air Force One on Monday that the administration would provide short-term government assistance, saying "an abrupt bankruptcy for autos would be devastating for the economy."

For November, output at aerospace factories, the category that includes airplane manufacturer Boeing Co., jumped by 12.8 percent after three straight months of declines.

A strike halted production at Boeing's commercial airplane factories for eight weeks before the Machinists union accepted a four-year contract and began returning to work on Nov. 2. The strike cut Boeing's revenues by more than $100 million a day and forced subcontractors worldwide to lay off workers.

Output at the nation's mines, a category that includes oil and gas production, increased by 2.5 percent in November following an even bigger 7.2 percent rise in October. The October gain followed a 9.5 percent plunge in September as production along the Gulf Coast was disrupted by the September hurricanes.

Production at the nation's utilities rose by 1.6 percent in November following a 0.7 percent increase in October.

The Fed said the rebound following the end of the Boeing strike and the hurricanes added almost 1 percentage point to industrial production in November.

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Dez 15, 2008 at 02:46 o\clock

Canadian Dollar Forecasts Remain Gloomy on Shaky Fundamentals

by: fxgentrading   Keywords: currencies, Canadian, economic, US, Dollar


A larger-than-expected Bank of Canada interest rate cut made the Canadian Dollar one of the worst performing G10 currencies on the week, but an outright tumble in the US Dollar left the USD/CAD marginally lower through Friday’s close. BoC officials surprised markets in lowering interest rates by a sizeable 75 basis points—signaling that domestic yields will likely fall harder than previously expected. Dismal economic data out of the US economy likewise dimmed Canadian economic outlook, and the Loonie continues to lose ground against major global counterparts on worsening fundamentals.

[Euro Outlook Remains Bullish on Breakout Versus US Dollar]

The euro posted its best single-week performance in eight years, as an outright tumble in the US dollar left the Euro Zone currency as the prime beneficiary of a turn in market sentiment. Currency traders seemingly lost their patience with the US dollar, opting to sell the American currency on dismal developments out of the US economy. The sharp euro recovery stood the test of continued deterioration in global risk appetite; sharp declines in global equity indices were not enough to sink the previously risk-sensitive European currency. Short-term forecasts remain bullish for the euro, as many expect US Dollar weakness to continue through the coming week’s critical string of US event risk.


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Dez 14, 2008 at 21:20 o\clock

Angry UAW Members Lash Out at Southern Senators

by: fxgentrading   Keywords: ForexGen, Customer, UAW


UAW lashes out at senators in Southern states with foreign car plants after auto aid bill dies

Festering animosity between the United Auto Workers and Southern senators who torpedoed the auto industry bailout bill erupted into full-fledged name calling Friday as union officials accused the lawmakers of trying to break the union on behalf of foreign automakers.

The vitriol had been near the surface for weeks as senators from states that house the transplant automakers' factories criticized the Detroit Three for management miscues and bloated UAW labor costs that lawmakers said make them uncompetitive.

But the UAW stopped biting its tongue after Republicans sank a House-passed bill Thursday night that would have loaned $14 billion to cash-poor General Motors Corp. and Chrysler LLC to keep them out of bankruptcy protection. The Bush administration later stepped in and said it was ready to make money available to the automakers, likely from the $700 billion Wall Street bailout program.

Still, autoworkers remain angry with the senators who tried to negotiate wage and benefit concessions from the union, then scuttled the House-passed bill that would have granted the loans and set up a "car czar" to oversee the nearly insolvent companies and get concessions from the union and creditors. Their top targets were Senate Minority Leader Mitch McConnell, R-Ky.; Sen. Bob Corker, R-Tenn., who led negotiations on a compromise; and Sen. Richard Shelby, R-Ala., who has been a vocal critic of the loans.

Kentucky, Tennessee and Alabama all house auto assembly plants from foreign automakers, and union officials contend the senators want to drive UAW wages down so there would be no reason for workers at the foreign plants to join the union.

"They thought perhaps they could have a twofer here maybe: Pierce the heart of organized labor while representing the foreign brands," UAW President Ron Gettelfinger said at a Friday morning news conference in Detroit.

Republicans in several Western states -- where unions are often shunned -- joined the Southerners in opposition.

But lawmakers and their spokesmen said the criticism is off base. Jonathan Graffeo, Shelby's spokesman on the Senate Banking Committee, said the senator has consistently opposed taxpayer-funded bailouts.

"He opposed the Chrysler bailout in 1979 when there were no foreign auto manufacturers in Alabama, and he opposed the recent $700 billion bailout of the banking industry," Graffeo said.

"Bailouts generally don't work, and this is a huge proposed bailout, and I fear it's just the down payment on more to come next year," Shelby said on the Senate floor Thursday night. "These companies are either already failed or failing, and that's a shame. These aren't the General Motors, Ford and Chrysler I knew."

Corker said the alternative he tried to develop would have provided federal money in exchange for restructuring the companies' debt and making the UAW more competitive in wages with workers at U.S. plants of Japanese competitors.

"Our members wanted to know that the UAW was willing to be competitive," Corker said.

"I basically pleaded with them to give me some language by some date certain that they were competitive with these other companies," Corker said. "That's where it broke down."

Hourly wages for UAW workers at GM factories already are about equal to those paid by Toyota Motor Corp. at its older U.S. factories, according to the companies. GM says the average UAW laborer makes $29.78 per hour, while Toyota -- generally viewed as the main competitor of the Detroit Three -- says it pays about $30 per hour. But the unionized factories have far higher benefit costs.

The union, GM and Chrysler have contended that the companies have restructured and the UAW has granted concessions that would make them competitive in 2010, but the economy went south this year and forced them into trouble. A third Detroit automaker, Ford Motor Co., asked for loans in case of emergency but says it has enough cash to make it through 2009.

Union officials also accused the senators of retaliating for the UAW's overwhelming support of Democratic candidates in federal races. The union gave $1.9 million to Democrats but only $11,500 to Republicans in the 2008 election cycle.

Many Democrats support the Employee Free Choice Act, which would take away employers' rights to demand a secret ballot on whether workers will join a union. Instead, workers could form unions by getting a majority of employees to sign a card in support of it.

"There's a lot at stake. If Republicans think now they can tarnish labor, it's going to be difficult to pass the Employee Free Choice Act," said Gary Chaison, professor of labor relations at Clark University in Worcester, Mass. "The unions are going to say that a strong labor movement is good for America. One of the things Republicans are trying to show now is that a strong labor movement isn't good for America."

Other union officials joined Gettelfinger to form a chorus of anger and frustration with the senators.

"What this is is the Southern conservative senators trying to destroy the United Auto Workers, trying to destroy unions," said Mike O'Rourke, president of a UAW local at a GM factory in Spring Hill, Tenn., Corker's home state. "It's a sad day in America when the senators turn their back on Main Street."

In an effort to help the auto companies get federal aid, the UAW last week offered to delay company payments into a union-run trust fund that will take over retiree health care costs starting in 2010. It also agreed to end the controversial "jobs bank" program in which laid-off workers get most of their pay and benefits after unemployment pay runs out.

Most Southern U.S. auto plants run by Toyota, Honda Motor Co., Nissan Motor Co., BMW AG, Daimler AG and other manufacturers are nonunion. The UAW has tried numerous times without success to organize workers at the foreign-owned factories.

Spokesmen for Toyota and Nissan declined comment, but Honda spokesman Ed Miller said in a statement the company did not lobby against the bill.

"Honda has been encouraging initiatives that would maintain the short- and long-term viability of the U.S. auto industry, including the hundreds of the shared supplier companies in the United States," he said.

As the Detroit Three have declined and ceded market share to the foreign nameplates, the UAW's membership has plummeted 69 percent, from a peak 1.5 million in 1979 to 465,000 at the end of 2007.


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Dez 12, 2008 at 22:28 o\clock

US Dollar Declines May Continue as US Retail Sales

by: fxgentrading   Keywords: US, Dollar, Declines, forexgen




US Dollar Declines May Continue as US Retail Sales are Expected to Fall for 5th Straight Month


The US dollar was already falling across the majors this morning when the release of US economic data at 8:30 ET suggested that the Federal Reserve will indeed cut rates aggressively next week.

First, the US import price index fell by the most since record-keeping began in 1989 at a rate of 6.7 percent during November, bringing the annual rate of price growth to a 6-year low of -4.4 percent. The decline wasn't entirely unexpected, given the strength of the US dollar and plunge in commodity prices. In fact, according to the Labor Department, petroleum import prices plummeted 25.8 percent in November alone. Meanwhile, initial and continuing jobless claims surged to the highest levels since 1982, suggesting that the US unemployment rate could climb further from its 15-year highs of 6.7 percent. The National Bureau of Economic Research (NBER) has already declared that the US economy fell into recession in December 2007, but the labor market data only suggests that the recession will continue through the end of the year and into 2009.

Looking ahead to Friday, the Commerce Department’s release of US retail sales at 8:30 ET is forecasted to fall negative for the fifth straight month in November at a rate of -2.0 percent. Such a decline won’t be entirely surprising given the combination of the jump in the unemployment rate to a 15-year high, the continuing collapse in the housing sector, and persistently tight credit conditions. Later in the morning, the preliminary reading of the University of Michigan’s consumer confidence survey is forecasted to fall even further to a 28-year low of 54.8 in December from 55.3. Traders should beware that while this report has a 10:00 ET official release time, it tends to hit the wires a few minutes early, which can sometimes spark a bit of a “surprise” factor in the markets. Overall, disappointing retail sales and sentiment figures could weigh on the US dollar, especially as the Federal Reserve is anticipated to cut rates on December 16 by at least 50 basis points to 0.50 percent.

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Dez 10, 2008 at 22:54 o\clock

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by: fxgentrading   Keywords: broker, trading

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Dez 5, 2008 at 23:45 o\clock

Mexico Wants to Shrink Coins to Save a Few Cents

by: fxgentrading   Keywords: ForexGen, Mexico, Coins


Does it feel like your money is shrinking nowadays? In some countries around the world, it really is getting smaller.


Mexico, following the lead of several countries around the world, has proposed making coins smaller and using cheaper metals to keep cost low amid the financial crisis and volatile metal costs.

The Mexican Senate on Thursday approved President Felipe Calderon's bill to modify the country's coinage. The plan awaits approval from the lower house of Congress, which will vote in February.

"We're being hit hard economically, so we're looking to spend more efficiently," said Enrique Lobato, director of cash programming for Mexico's central bank.

The Mexican economy is running a 1.8 percent budget deficit, the country's first in years, and next year's 3 trillion peso ($224 billion) budget will be tight.

Lobato said under Calderon's proposal, the bank could save around 200 million pesos (US$14.7 million) per year in production costs.

Total production costs on coins this year reached nearly 1 billion pesos (US$73.5 million,) he said. Costs include the price of metals and minting the coins. The bank produces around 1.5 billion coins each year.

Mexico has eight kinds of coins in the following amounts: 5, 10, 20 and 50 cents, and 1, 2, 5 and 10 pesos. The plan, if approved, would shrink the size of the four smaller coins, and reduce the amounts of copper, zinc and nickel alloys in each of the peso coins, as well as in the 20 and 50 cent coins.

In Mexico, the use of coins has grown by about 6 percent annually, the government says. Around 20 billion coins are in circulation.

Many countries have done the same to cut costs in their moneymaking.

Australia and New Zealand recently eliminated their 1 and 5 cent coins, and New Zealand in 2006 significantly reduced the size of its 10, 20 and 50 cent coins.

In the United States, the U.S. Mint is lobbying Congress to make the penny more cost-effective. The 1-cent copper-colored disc now costs 1.2 cents to produce.

Countries often will change coin production when inflation and metal prices alter coins' value and cost-effectiveness, said Francois Velde, a senior economist with the Federal Reserve Bank of Chicago.

"This most likely happens in times of high inflation, of sharp currency devaluation or in times of high commodities prices," he said. "The lowest denominations are typically hit first, because inflation eats away at their real value."

Mexico's annual inflation hit a seven-year high of 6.2 percent in the first two weeks of November, and the peso has tumbled more than 30 percent against the U.S. dollar since Aug. 1.

Base metal prices, including copper and aluminum, had hit record highs this year, but have fallen nearly 60 percent from 2007 levels. Nickel has dropped 80 percent.

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Dez 4, 2008 at 23:28 o\clock

Euro Falls Slightly Against Dollar

by: fxgentrading   Keywords: forexgen, Euro, Dollar




Euro falls slightly against dollar as investors anticipate interest rate cuts

BERLIN (AP) -- The 15-nation euro fell slightly against the U.S. dollar as markets anticipated rate cuts from both the European Central Bank and the Bank of England later Thursday.

In morning European trading the common currency bought $1.2620, down from $1.2655 late Wednesday in New York.


The British pound fell to $1.4599 from $1.4722 yesterday, while the dollar weakened slightly to trade at 93.08 Japanese yen from 93.09 yen in New York.

Both the ECB and the Bank of England are expected to cut their interest rates when they meet Thursday.

Though lower interest rates can jump-start an economy, they often weigh on its currency as traders transfer funds to countries where they can earn higher returns.

"Aggressive cuts are widely expected by both parties and this has been factored into prices so look for volatility initially if we don't see the anticipated 100 point cut in the U.K. and a 50-point cut in the euro zone," said James Hughes at CMC Markets. "However, it's worth bearing in mind that some speculation is circulating that an even softer stance could be adopted and this would certainly end up weighing on the respective currencies if it proves to be the case."

Many observers think the ECB will reduce its benchmark rate by half a percentage point to 2.75 percent -- though some are predicting it will cut it by three quarters of a point.

"Just a 50 basis point rate cut by the ECB should be mildly disappointing for markets, although investors would refrain from selling heavily the euro ahead of a new shocking jobs report in the U.S. tomorrow," said a statement from Milan-based UniCredit.

The Bank of England is expected by many to lower its rate by a whole percentage point to 2.00 percent, which would be equal to its lowest level since the bank was founded in 1694.

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