British Pound is known to be a stable currency. Great Britain is a strong economy. But, Great Britain was finding it difficult to stay within the tight exchange rate band set by the European Monetary Union (EMU) in the early’90s. One person who made history with options was George Soros who is famously known as the man who broke the Bank of England.

George Soros had this intuition that the Bank of England would be forced to devalue British Pound. So he bought call options on German Marks and put options on British Pound. He made a bet of $10 Billion by leveraging all the assets in his hedge fund.

Bank of England had made a number of public statements regarding its intention of staying within the EMU. However, within a few days of the speculative attack on the British Pound, Bank of England was brought to its knees as it was …

Do you know how to read Point and figure charts? Point and figure trading in many ways is similar to the support and resistance breakout trading on bar or candlestick charts. The main difference is the look and functionality of the price charts themselves!

Bar charts and candlestick charts show the high low open and close price for a given period. Point and figure charts represent price in a radically different manner from the more familiar bar and candlestick charts. Many forex charting platforms provide the option of point and figure charts.

Point and figure charts do not show any timeframe. This may confuse you in the beginning. Point and figure charts are a pure price action play because these charts generally exclude all other elements like time, volume and open/close other than price. Point and figure trading is based exclusively on price action.

Point and figure charts represent clear evidence of such …

The buying and selling of currencies on the foreign exchange market is what is commonly well-known as currency trading. To most people, currency trading is fairly tricky to comprehend in the beginning. Despite this, trading on the forex market is pretty clear-cut on the whole.

The currency exchange market is recognized as the major traded market on the planet. This market sees the exchange of some 2 trillion dollars per day.

The forex market has no central market to call home as it is made up of different worldwide networks. It sees the trade of every single established currency in the world. Trading takes place through many types of platforms depending on the forex broker.

The forex market is open twenty four hours a day for trading. Although it should be noted that trading is not permissible on Saturdays and Sundays.

The price of a country’s currency depends on economic as well as political …

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Friday October 30, 2009

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Too big to fail, is still heavy in the derivative market, and primed for a gigantic collapse.

Congress needs a chimney sweep to clean the soot from the smoke they’ve been blowing. Our do nothing congress; well we can’t really say do nothing, they did bail out the banks, and they have raised more money for themselves this session from Insurance, health care and bank lobbyists than in any other one year period, and the year isn’t even over. Now they are spreading the word, the gospel of Obama, it’s time to

September 15th, 2008, a day that will live in infamy. Famous words, much the same, made in 1941 by our President Franklin D. Roosevelt. As the one year anniversary of the Lehman Brothers collapse approaches, I find myself looking at the economic picture and wondering if we really dodged a bullet or if we traded in our single shot rifle pointed at our head for an semi automatic? Did we really just blow up the asteroid, on a crash collision with Earth, or just shatter it into a million more deadly pieces? Our government, Treasury and Federal Reserve all claim we have averted disaster, apparently the recession is over. I would be thrilled to believe this, I truly would, but let us look at the facts.

As I look over my notes and calculations I find some interesting issues and facts popping up. For instance, would it surprise any of you …

Today’s post is from an old friend, frequent blogger (see previous posts), and trading expert Bill Poulos from Profits Run. With Bill focusing a ton of his time on Forex, and with the Forex market getting so much attention, I wanted to ask Bill to come and give us some of his latest insights into what he’s found. The article below is a great one, and if you have time I’d highly recommend checking out his new “Risk Eraser” technique video!

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You’ve likely heard the term Forex lately — it continues to be the hottest trading trend today. That’s a trend I believe will continue but today, I wanted to take a few moments to point out why as well as how you can best take advantage of trading foreign currencies without being taken advantage of.

Just a couple of years ago, the foreign exchange markets

Foreign Exchange Trading: The Emotional Discipline of Trading Forex

By Dr. Scott Brown, Education Director of Investment U

As we mentioned in Part 2 of our interview with Thomas Fischer, a veteran of inter-bank foreign exchange trading, the most important aspect of trading the highly leveraged Forex markets is discipline - emotional and numerical.

One deals with how much of your cash you put at risk on any trade, and the other with psychology - how you handle that fear and greed with your money on the line.

Thomas has granted us a rare glimpse into the mysterious world of Forex trading he prospered in for 22 years.

Today we are talking about the discipline it takes to become highly profitable.

Onward we go…

Foreign Exchange Trading & Technical Analysis

Dr. Brown: In the first part of this forex trading interview you mentioned that, “When you have a winning trade take

The Forex Markets: A Rare Glimpse Into The World of Forex Trading

By Dr. Scott Brown, Education Director of Investment U

There’s a lot of interest in the Forex markets right now.

But a big problem is that it’s nearly impossible for you to get direct advice from veteran Forex traders since they rarely give interviews and most earn so much they don’t care to teach anyone else.

They move vast sums of money and barely have time to train new MBA graduates - who may or may not succeed - let alone talk to novices trying a go of it over the Internet.

Yet despite the closed culture - the inter-bank foreign exchange market is a very small, tight-knit and elite group of top financial professionals - the Internet has opened these markets to the public for small and average investors.

Veteran inter-bank foreign exchange trader Thomas Fischer, MBA has granted us a

Last week I showed you how to analyze 13 forex cross-rates in less than 11 minutes. I thought it would be fun to go back and look at how this very quick analysis turned out.

Out of all the markets we analyzed in just 11 minutes, only five were in tune with our trade “Triangle Technology.” What this means is that both our daily and weekly “Trade Triangles” were in alignment indicating the direction for that particular cross.

We first looked at the following cross rates on June 18th, 2010. The first number you see below is what that cross rate was trading at when we made the video last week:

USD/CAD was trading at 11335. Trade Triangles said to be long USD short CAD Now trading at 11490, that’s a profit of 155 pips.

USD/NZD was

At MarketClub.com, we cover the Forex markets with real-time streaming data, but trader’s blog members often ask which is better: Day Trading or End of Day Trading the Forex markets. To help answer that question and answer ANY other Forex questions you might have is Bill Poulos. Bill’s developed an amazing Forex Income Engine 2.0 course (goes live at 10am today), and has decided to give us one more post and clear his schedule to answer any and ALL questions you might have for him! Please comment below with your own thoughts on which is better for Forex trading and your own personal experiences!

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Forex traders often ask: “Is it better to trade the Forex markets on an end of day basis (with daily charts) or a day trading basis (with 5, 10, 30, etc minute charts)?”

There is no right answer to this question, as I believe it depends