Aussie dollar reaches record highs against U.S. dollar
Sydney, Australia (AHN) – The Australian dollar continued to surge higher in currency trading on Thursday reaching an all-time high in value against the U.S. dollar.
Trading saw the Australian dollar reach $1.0764 against the dollar with predictions it will climb to $1.10.
The $1.0764 figure was the highest value against the U.S. dollar that the Australian dollar has reached since it was allowed to float in value in 1983.
Trading has pushed the Australian dollar up 10 cents in currency pair trading against the dollar since mid-March.
In the meantime, the U.S. dollar has fallen in value against most of the world’s major currencies since Wednesday when Standard and Poor’s issued a warning on U.S. government debt being too high.
View full post on Foreign Exchange Market Stories
Australian dollar rises to record highs against US dollar in Asian currency trading
Canberra, Australia (AHN) – Australia’s dollar rose to record highs in Asian currency trading against the U.S. dollar on Wednesday.
The increase in its currency value came from two factors.
One was the rising demand for Australian commodities fueled by fast-growing economies in the developing nations of China and India.
The other was high demand for currency because insurers are paying damage claims for rebuilding and repairing of properties heavily damaged by the December floods in the Queensland region.
Australia’s dollar rose to a 29-year high in value of $1.0318 in currency pair trading. That is the highest since the country allowed its currency to float in value beginning in 1983.
The actual cash rate is now 4.75 percent, which is a good yield.
In addition, Australia’s dollar rose to 85.69 yen against the Japanese yen, up from 75.05 two weeks ago.
View full post on All Stories
SEC probes ETF use in insider trading
The Securities and Exchange Commission is investigating whether Wall Street traders are using exchange-traded funds as a means of disguising insider trading
View full post on UK Business Stories
Wheat leads jump in European crop futures trading
Trading in Paris milling wheat jumped 125% last year, helped by investor and trade interest, and looks set to win extra index fund attention
View full post on Commodities Stories
What Losing Traders Do by Vince Stanzione Multi Millionaire Trader Gives You Some Priceless
What Losing Traders Do by Vince Stanzione – I have been trading futures, options and equities for around 23 years. As well as trading my own money I have traded money for banks and I have been a broker for private clients. Over the years I have been fascinated to discover the difference between winners and losers in this business.
Try to learn from the points I am about to give you: 1. Many traders trade without a plan. They do not define specific risk and profit objectives before trading. Even if they establish a plan, they “second guess” it and don’t stick to it, particularly if the trade is a loss. Consequently, they over trade and use their equity to the limit (are undercapitalised), which puts them in a squeeze and forces them to liquidate positions. Usually, they liquidate the good trades and keep the bad ones; 2. Many traders don’t realise the news they hear and read has, in many cases, already been discounted by the market. Often, new traders jump into a market based on a story in the morning paper; the market many times has already discounted the information; 3. After several profitable trades, many speculators become wild and un-conservative. They base their trades on hunches and long shots, rather than sound fundamental and technical reasoning, or put their money into one deal that “can’t fail; 4. Traders often try to carry too big a position with too little capital, and trade too frequently for the size of the account; 5. They fail to predefine risk, add to a losing position, and fail to use stops; 6. They frequently have a directional bias; for example, always wanting to be long. A good trader should be happy to trade up or down; 7. Lack of experience in the market causes many traders to become emotionally and/or financially committed to one trade, and unwilling or unable to take a loss. They may be unable to admit they have made a mistake; 8. They over trade. Many new traders after opening a Financial Spread betting account are like a child with a new toy. They want to trade anything and everything. The new internet dealing offered by most bookmakers has made it even worse; 9. Many traders can’t (or don’t) take the small losses. They often stick with a losing trade until it really hurts, then take the loss. This is an undisciplined approach…a trader needs to develop and stick with a system. If you are following charts and a trendline or moving average is broken, you must stick to your rules. “All through time, people have basically acted and re-acted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why formations and patterns re-occur on a constant basis.” Jesse Livermore and; 10. Many traders break a cardinal rule: “Cut losses short. Let profits run.” Emotion makes many traders hold a losing trade too long. Many traders don’t discipline themselves to take small losses and big gains.
Vince Stanzione – Forex – Finbets. The above points have been taking from Making Money From Financial Spread Trading 2009 Edition by Vince Stanzione.
Vince Stanzione is a self made multi-millionaire based in Europe. Started at a junior at the age of 16 for Nat West Foreign Exchange in London he worked his way up in before leaving to start up his company. He has been involved in various companies including mobile communications, premium rate telephony, Interactive gaming, publishing and television and financial trading. He now lives most of the year between Spain and Monaco and trades his own funds mainly in currencies and commodities. As well as trading he also teaches a small number of students and produced the best selling course on Financial Spread Betting.
Why Traders Mistake in Stock Market
The answer to the question “why do traders make this Mistake in Stock Market” could probably apply to all of the mistakes.
The primary cause of Mistake #1 is simply the lure Of easy money. The underlying thought seems to be “why Bother wasting a lot of time planning; why not start getting Rich right away?” This is understandable. There is probably not a soul on this earth who works for a living who has never once dreamed of making some huge sum of money quickly and easily and then living a life of spoiled luxury from that day forward. And the fact of the matters that futures trading offers just that possibility (which is exactly what makes futures trading so alluring, yet so dangerous). Consider these success stories: In a trading contest in 1987, Larry Williams ran $10,000 up to $1.1 million dollars in less than a year. Michael Marcus started with a trading account of $30,000 and over a period of years garnered over $80 million in profits. Richard Dennis became a legendary trader in the grain pits in Chicago in the 1970′s. Starting with a reported $400, Dennis ran it up to over $200 million dollars (his father is reported to have made one of the greatest understatements of all time when he said, “Richie did a ratty good job of running up that $400 bucks”).
Let’s face it; these numbers are staggering. Who in their right mind wouldn’t want to achieve the kind of success that these individuals have? Unfortunately in Stock Market, most individuals tend to focus not on the “achieving” part of the process, but rather the “post-achievement” period. In other words, if you asked the question “could you imagine having this much success trading futures,” most people would not begin mentally drawing up plans as to how they would trade soybeans. Quite the opposite. Most people would start drawing up a mental laundry list of all the things they could do with the money. The “doing” part is not nearly as sexy as the “done” part.
Launch of New Exchange For Commodities Trading Uplifted Singapore’s Image as a Financial Hub
Singapore’s financial market landscape will have a new player by the end of August – the Singapore Mercantile Exchange (SMX), the first pan-Asian multi-product exchange. The Monetary Authority of Singapore (MAS) granted ‘Approved Exchange’ (AE) status to SMX on 12 August 2010, the final approval needed to operate as a regulated and licensed exchange.
SMX offers a comprehensive platform for trading a diversified basket of commodities including futures and options contracts on precious metals, base metals, agriculture commodities, currencies and commodity indices. Four derivatives products will initially be on offer at the SMX namely, West Texas Intermediate and Brent crude oil futures, gold futures and euro-US dollar futures. The SMX’s target is to pick up between 3 and 5 percent of the 7 billion derivatives contracts traded in Asian markets. SMX will be offering Singapore’s first gold futures contract with physical delivery at vaults in Singapore.
SMX’s key agenda is to create a viable Asian price discovery and benchmarking system, Asia which has evolved to become the leading producer and consumer of commodities still concurs with the western markets which are the price setters. Being at proximity to the productions centers and the consumption markets it will facilitate transparent price discovery based on demand supply fundamentals. The state-of-the art electronic trading platform allows for multiple connectivity option and enables vibrant commodity trading within the Asian markets during Asian time zone.
Singapore is already the third largest oil trading center after New York and London, the top bunker port in the world, the fifth largest foreign exchange trading center and the eighth largest center for over-the-counter derivatives, and with the SMX coming live on August 31st, it will play a pivotal role in the commodities market drawing international investors and trading houses to its shores. Singapore is well positioned to transit from being a regional hub to a global commodities trading hub.
Welcoming the exchange, Ms. Rebecca Lee, a senior team member at SingaporeSetup.com said “Singapore as an international financial center aims to establish itself as the Asian commodity trading hub. The new generation international commodity and derivative trading platform is no doubt a significant milestone to this effect. In fact, the government had announced tax incentives in 2004 to promote commodities derivative trading sector in Singapore, and last year the incentive scheme was further enhanced by relaxing certain restrictions on CDT companies and by extending the 5% concessionary corporate tax rate to 2013. The pan-Asian exchange will escalate Asia’s role in the commodities trading market. Most of the international trading houses are turning towards the Asian markets to hedge and Asia will continue to be a major engine of growth for the global commodity market. In this scenario Singapore with its comprehensive industry infrastructure and efficient platforms will remain a preferred destination for investment companies, international trading companies and other financial sector players like brokers, analysts and fund managers”.
Share Trading India For One And All
Many people are looking for alternative ways of making money that are capable of supplementing the money that they earn from their present jobs or the business that they may be into. As such Share Trading India is one of the most viable as well as the most favored options preferred by people today. It is one field that has people from all walks of life, from full time traders and investors, to those who are just looking to make a quick buck and also those who are looking for planned long-term investments to help them in their later life.
Today, with technology making in-roads into each and every office and household, Share Trading India too is picking up pace. Online trading has totally redefined the way one looks at the stock markets and equity trading. This is mainly because online trading portals are always live and offer up-to-date research and analytics that leads to a lot of profit booking. Moreover, one can trade online from the comfort of their homes or offices. This makes it a highly viable option today.
Also, as the times have changed so has the speed of making money. Many people invest on either the National Stock Exchange or the Bombay Stock Exchange and make money in a single day or at the most a week. This is one of the main reasons that led to the rapid rise of Share Trading India in the recent years. What’s more, the initial capital required to invest in securities is not very big so even small players can enter the market and earn money.
However, careful planning and research is needed for anyone who wishes to make money by trading shares. The market is a place that is highly volatile. Just as you can make money in a day, you can also become bankrupt in a matter of hours. As is the case with any and every business and investment, there is always a risk factor involved and one has to be patient as well as careful if they wish to make money instead of losing it.
Basic Guide For Understanding Forex Trading
Foreign Exchange or Forex, for short refers to the currency of foreign countries. There is a demand for the currencies of other countries due to reasons like international trade in goods and services, economy strength, and other factors. The demand and supply requirements of the different currencies worldwide is the chief reason which affects their prices vis-a-vis other currencies. To regulate the prices better and centralize market (demand and supply) action, there are Forex exchanges where people can do Forex trading. Majors, Exotics And Crosses The currencies are represented by their symbols as C1/C2, where C1 and C2 are the currencies. For example, USD/EUR will mean the rate of 1 USD in terms of “n” Euros. The pairs of currencies are called by various names like majors, crosses and exotics. “Majors” are the currency pairs of Euro, Yen, Pound, Swiss Franc, Canadian dollar and Australian dollar with US dollar. “Crosses” are those currencies of the developed world which are not pitted against the dollar.
“Exotics” are the currency pairs of developing economies with those of other developing or developed economies. Ask, Bid And Spread In FX trading jargon, the “ask” price is the selling price of the currency by the broker and the “bid” price is the buying rate by that broker. Whenever you go to a bank, you will find two rates of currencies on digital board. The higher one is the selling rate for the bank, meaning that you will be required to pay higher amount for buying that currency. The lower amount is the buying rate, meaning that the bank will buy at a lower rate than selling rate. In currency trading, the spread is the difference between ask and bid rate. Spot, Forward And Contracts For Difference (Cfds) Spot price of a currency is the current Forex trading rate. If you place the spot order, the currency will be bought or sold at the rate prevailing at the time of placing the order. If you think that the currency trading rate will change in the future and you want security against fluctuation, then you fix a rate and promise to buy or sell the currency on a future date at that very price.
This is a forward contract. Forex CFDs are different to buying currencies at a bank, where you don’t physically own the currency you buy. Rather, they anticipate future movements and take a position in CFD trading accordingly so as to make profit from the difference of the current and future exchange rate on their booked position. Apart from the CFDs, there are other derivatives of different types which are meant for hedging or risk covering purposes like the futures and options. These are based on underlying security or assets called derivatives. Forex trading platforms are generally provided online by a number of duly registered and licensed companies using special software. They allow ease and convenience of trading, enlarges the customer base and volume of business and also makes the market more liquid. The customers use a number of charts to analyze the market movements and accordingly take their positions and enter into different types of contracts.
Stock Market Wisdom-learning to Trade Like The Legends, Part 7
Top traders and investors know the most money will be made by following the main trend. Jumping in and out of the market trying to scalp it, is generally not a good idea. The big money is made playing the long swing. The key is to stay with your winning trade, until you get a definite indication the trend has changed. This is called, letting your profits run. I use a weekly chart to determine the main or major trend. It is never a good idea to trade against a major trend. Stay in sync with the market, and always trade in the direction of the major trend.
Diversification is a crutch for ignorance. You are much better off only trading when the odds are strongly in your favor. Gerald Loeb stated, “The greatest safety lies in putting all your eggs in one basket, and watching that basket”. I totally agree. If you want mediocre results, at best, diversify. If you want superior trading results, you must only trade the very best opportunities. Top traders know you are much better off with one great stock, instead of ten average stocks, spread across ten different sectors. It is amazing, listening to some of the so-called experts who preach diversification. They simply do not have a clue on how to attain superior trading results.
Conventional wisdom tends to be a disaster for a trading account. This includes the stock market, and the futures market. The majority of traders blindly follow this way of thinking, and doing things. They are usually not very happy with their trading results. Examples of conventional wisdom include, buying cheap stocks, thinking it is a great deal. Most cheap stocks are cheap for a good reason, and usually just keep getting cheaper and cheaper. A great example is listening to so-called experts like Jim Cramer. The Cramers of the world will lead you on a path, to not only monetary failure, but will strip you of your psychological capital also.
The world’s best traders and investors know that conventional wisdom is mostly hogwash. It is put out there to fool most of the people, most of the time. It works only too well. Elite traders do not follow the crowd. They implement historically proven methods and principles, which are considered unconventional by the vast majority. Elite traders think and act differently. That is why their trading results are superior, and they make vast fortunes trading the various markets.
About Author Hi, I’m Gary E Kerkow, founder of Tradingmarkets4u.com. This site provides information to help traders and investors become successful. I have over 20 years of trading experience including stocks, futures and options. Visit my website at http://www.tradingmarkets4u.com
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