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Forex Trading Signals & Alerts |
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Forex Alerts Forex 24/7 is an alert provider helping you to find a different way to trade the forex market. The forex market, is one of the largest markets in the world. It is not uncommon to have 1.9 trillion dollars a day pass hands in this market. That is a lot of money...no matter who you are! 1.9 trillion! From banks that trade one currency for another, to companies that have to pay their employees that work in different countries; it all adds up to the trading of one currency, for an other type of currency! What about being part of that 1.9 trillion!?
There are so many different ways to trade. Have you found a strategy that is consistent and with good returns? Are you a trader that has yet to bring home one check, because you have a trading strategy that works one time, but the next time it takes the profit you made, back...and then some? Have you tried taken every course you hear about, that has some logic to it or sales pitch, that promises you to turn $1000, into $1,000,000 in less then 6 months? They all sound so good...but they all rely on the market repeating itself, or half a dozen other things going right for you, at the right time. How about we try and change that!!! Come join the other forex traders that are trading one strategy that is consistent and works 24/7! We do not send signals to your email! We do not "ring your phone"! We do not send an instant message! That takes too long to get your attention for our style of trading!!! We are a scalper type of traders! We do not have time to ring bells or send email. All of our trades are done live real time in our chat room.
Our philosophy is to scalp, the forex market to make our living. Scalping 3-15 pip trades done at peak times, with our pair of choice is the aim. Maintaining the trading account is our number one priority. Our minimum of 30 pips a day is for our monthly paycheck. This is a minimum of over 600 pips on an average of 21 trading days a month. We use what we call a DD bank (draw down). How this works, is our nightly goal is a minimum of 30 pips. Everything over the minimum of 30 pips goes into the DD bank. The minimum of 30 pips a night is achieved by scalping trades, that are called "live" in the chat room. After each trade is closed, members that wish to participate, will announce how many pips they have made on the trade. The trade with the least amount of pips received, is then added towards our nightly minimum goal of 30 pips. By posting the trades in this manner, this assures that all members are receiving a minimum of 30 pips a night, whereas if we posted the trades with the most pips, not everyone would make the nightly goal. The pips in the DD bank are calculated, and kept track of every night before the start of trading on our scoreboard from the previous night. That way we have the minimum to put towards our paycheck and we have the extra pips to cover any bad trades. At the end of the month, if there are any pips left in the draw down bank, it is your choice to leave them in your account and build your account, or take a percentage of those pips to add towards your check. This maintains the account and allows you to receive a steady paycheck. At the beginning of the month, the DD bank goes back to zero.
We invite you to our trading/chat room where you get to mingle with other traders like yourself and trade the forex market with us, one on one...so to speak! As a member you will be part of an elite group that meets every night at what we think is the optimum trading time for our alerts and signals. Our easy to follow REAL-TIME alerts are called by audio giving you a signal with more than enough time to place your trade at the same price, or reasonably close to it. We let you know the pair we are trading, the price we entered at, and if we are buying, or selling at the time! Please be aware that when trading the forex market there is risk involved and you as a trader are the only one to decide if you want to place the same trade that we place or not. Likewise, if you do place the same trade, it is up to you when to close the trade or not. So please take the time and read our risk/disclaimer page. |
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What goes on in our Chat room... |
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Forex Alerts are given to you Monday thru Friday! When you sign up and become a member, we send you an email that puts you through orientation on how the site works, along with your user name, and password. This user name and password is good just for the members area, not for the chat room. After you sign in, you will be taken to a new window called the members area. This page has information about the chat room, downloads for (members only), tables for trading recommended lot sizes for the size of your account, and much, much more.
Here is where all the fun starts!!! Monday through Friday at 01:15 am NY time, you click on the "chat room" link, and login to the members area, where you get to register a user name that everyone gets to know you by, (one time only), and password of your choice! In the "Chat Room"" you join all types of traders, from the novelist who does not know what a candlestick is, to the more seasoned traders that have been making a living at trading.
As our professional staff call the forex alerts, you have the right to place the trade with your broker or not. (We highly recommend having a broker that allows you to buy, and sell, on the same pair, at the same time, without closing any of your trades to do so)! All trades are done with market entry orders. We do not place entry orders for the most part.
When we close the trade, (also up to you as a trader when to close the trade or not), we then ask you as a member to give us an idea how many pips you made on that trade. (optional) We take the lowest score for that trade and add it to our score board to put towards our nightly goal of 30 pips. We use the lowest scores offered in order to reflect the worst trade made in the room so that everyone makes the same minimum amount of pips for the night!
That gives us a minimum goal of 600 pips a month!!! We post the results of all the closed trades, good or bad, when the session is done. If a trade is placed today, and closes a different day, it will be posted on the day it was closed, not the day it opened!!! We do not post the results of open trades, because we do not know the out come of those trades yet. When they close, we then post them. |
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FOREX 24/7 MANAGED ACCOUNTS & PROFIT SHARING |
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Forex 24/7 Managed accounts
Forex 24/7 now offers managed accounts. We offer two types of managed accounts.
- Profit Sharing: With as little as $500 or more as a buy-in, you can be part of this program. Every month, buy-ins are collected from the 1st of the month to the 23rd of the month and wired to a trading account at FX Pro.Com. The following month, these buy-ins are traded and at the end of the month, all profits, if any, are distributed via PayPal. Our monthly goal is 20%. The first Monday of every month, the profits, if any, are wired back to the bank account. At that time each member is paid their portion of the profits, if any. This is a way to help traders that do not have the funds or the time to trade the larger accounts, and to put extra money in their pocket at the same time. Please remember that any type of trading involves risk. Nothing is a guarantee. Please read disclaimer page.
- Personal Accounts: With a starting balance of $5,000 or more and a trading account opened through this link at FX Pro.Com, (click here) you can be part of this program. Each account is traded individually. The fee is 20% of net profit. If there is no profit, there is no fee. If there are any open trades at the end of the month, the fees are postponed until all trades are closed. Fees are collected via PayPal. Please remember that any type of trading involves risk. Nothing is a guarantee. Please read disclaimer page.
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Trading Strategy |
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Our time tested forex trading strategy has proven itself over and over again. The performance results shown are from our own account that we trade with members every night. We do not reveal our strategy!!!! Please do not ask for it. Using a finely tuned chart combination of three different time frames, each with a different set-up to provide a road map of the market. Working with five monitors and two high performance computers we try very hard to make a difference in your forex results!!!
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Forex Trading Methodlogy |
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Forex Trading, there are lots of different types of trading styles. From the "flip a coin" to swing trading. The day trader, to the scalper. Resistance/Support, to correlation. The list is endless. Over the years we have become specialists at our type of trading. The mix of correlation at support and resistance points and scalping would best cover our type of trading! We do NOT "flip a coin"....LOL!!!
It is very important to be able to use all the tools available to a trader to make it in forex. One of the biggest tools you have is your broker! It is our opinion that you should be with a broker that allows you to buy and sell on the same pair at the same time, without having to close a trade to do so. If you are not, then think of getting a different broker! What happens if you sell and the market goes up? After all, you make money in the market if the market is going down, or up! Just food for thought!!!
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Testimonials |
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Even though you do not qualify yourself as an instructor I am learning alot from my experiences with you in the chat room. In the beginnig I was expecting a teacher student relashionship but then very quickly you set that nonsense straight. Your outwardly impression for the room is that you are just a signal provider and not an instructor . In only a couple of short weeks you have taught me more than I could ever imagine. Like I said I was originally looking for a "system" to fall back on. In your freindly methodical approach to day trading or actually scalping you have taught me what I needed the very most.
I have a stategy of my own that is very similar to yours as the signals are almost the same I don't know what your signals are but they seem to be close to the same buy and sell signals that i have developed and tested with some success. I found that my signals worked for a while but eventually killed my account more than once. Rick what you have taught me is way more important than great signals What you have taught me is a controlled approach to a session of trading or in other words two things that I have lacked right from the beginning. 1) a real trading plan and 2) most importantly discipline.
As we have talked about earlier there have been a couple of problems that have been ironed out. Most importantly you have given me of your valuable free time to answer my questions very promptly which I really appreciate.
Today I implemented your style of trading with my entry statagy and achieved 296.8 pips in about 5 hours of trading during the New York session. I know this is not the norm but I do also know that this kind of day tradiing "scalping" is very possible to be profitable. To put icing on the cake you have given me seriously the ultimate traders present CONFIDECE
Looking forward with anticipation to the chat room tonight along with many other nights. I believe you have me got hooked by your kind, professional, cheery attitude that confonts all of us every morning of the trading week. You will have a hard time counting me in as absent to any more of your sessions. I am assuming that it will take me 5 years or better to achieve being a real trader and I am looking forword every day to one day at a time to our success.
I am no longer a drinking man but heres a toast to our health and sccessful long term partnership
Your truly pippiedken
23:59:50 {chris63} Rick, where did you get that prediction ?
00:00:21 {chris63} how did you work it out
00:01:26 {chris63} so yousaw that possible price from your charts
00:01:37 {chris63} kewl
00:01:50 {chris63} no
00:01:55 {chris63} I would ratherv pay he subs... ha
00:02:16 {chris63} ok
00:03:38 {chris63} 43
00:03:48 {chris63} out at 93
00:03:56 {whitsong} 39
00:04:38 {tachyon} n
00:04:57 {whitsong} <>
00:05:17 {whitsong} but dopn't call it a night.. ok?
00:05:44 {whitsong} sometimes you do.
00:06:15 {tachyon} 40 pips
00:07:28 {tachyon} 5 it is
00:07:37 {chris63} 5
00:08:03 {whitsong} 7
00:08:19 {SharkPips} in at 7
00:13:01 {chris63} not sure if I am allowed to post a call from someone else
00:13:41 {chris63} Here is a place a trade call and dont have to watch. Buy stop GU 1.5755, tp 1.6000, sl 1.5630. Move sl to BE at 1.5800
00:16:00 {tachyon} 29
00:16:01 {SharkPips} +51
00:16:05 {whitsong} 9
00:16:09 {chris63} 36
00:16:53 {whitsong} 59
00:17:11 {whitsong} nice mistake
00:17:27 {chris63} nice one Rick
00:17:47 {tachyon} at what point do we hedge the long if necessry?
00:17:36 {SharkPips} Thank You !
00:17:40 {whitsong} Thank You !
00:17:44 {whitsong} Yes great night.
00:18:55 {tachyon} 100 pips
00:19:32 {chris63} double?
00:19:44 {chris63} yes
00:19:45 {tachyon} and if it goes up then u will send an email for the tp
00:19:51 {chris63} got it
00:20:14 {tachyon} very clear. thanks
00:20:40 {whitsong} yes I got it.
00:20:46 {whitsong} wrote it down...
00:20:52 {chris63} bye
00:20:54 {Rick_K} <>
00:20:55 {whitsong} good night....
00:20:55 {SharkPips} Disconnected 10/28/2008.
00:20:58 {whitsong} Disconnected 10/28/2008.
00:21:04 {chris63} Disconnected 10/28/2008.
00:21:04 {Rick_K} <>
00:36:18 {tachyon} rick are u there?
02:31:16 {tachyon} Disconnected 10/28/2008.
Hey Rick,
I scalped 5 times on this trade, 4+ trades, 1 neg. Net gain 67 pips. Thanks for the email!!!!!!!!!
Jack G.
Rick,
Since I came aboard forex 24/7 in February 08 I have more than doubled the equity on my account. It's very satisfying to see my account grow week after week. I truly see at the end of each week I am reaching my trading goals with ease and grace using your system. Your system is not for everyone, I would say it is for those who have a genuine desire to grow their account over time. Those who don't mind nick ling and dimming their way to financial freedom. Thanks alot!! - Pipstar in Los Angeles
Rick,
I’m very fortunate to be a part of your chat room. A year ago I started FOREX trading and kept losing money in my demo account despite the endless number of free web-based classes offered by the broker. I never got to the point where I could trade my live account. So, I gave up.
Then, last month I happened across your website. I’ve just completed my 6th week trading my live account with you. The results have been ridiculously incredible. Here are my weekly ROI stats: week 1 = 39%, week 2 = 36%, week 3 = 28%, week 4 = 42%, week 5 = 20%, and week 6 = 56%. Needless to say the pips have been out the roof.
Without you, FOREX trading was just a dream. Now, it is a reality.
Thank you sincerely,
Randy (drxfx)
This is the best experience I had in trading Forex and making money. Hope that you will always be around.
Cesar B. Linares
Your sharing says so much about your generosity. I'm enjoying learning Forex as a retirement hobby and hopefully income supplement. If ever you visit Australia- I'd love to meet you.
Best wishes,
Fran M.
Very interesting!
Will get a chance to take a close look later tomorrow. Will likely not be trading tomorrow.... lots of stuff that just has to be done outside the house. Lips are sealed on this strategy!!! We'll get back to you as soon as we have a chance to really give this a looking over. Thank you so much for sharing!
Dave & Rae
G'day Rick,
Your trading ideas and strategies are true gems especially to a relative newbie like myself!
Thanks a million and God Bless you,
Ann Marie, ( Melbourne , Australia)
Hi Rick,
Thank you so much for the quick response... we really appreciate it! As far as the "elite club" goes, we might not be elite, but we certainly are SOMETHING :-)
Dave & Raylene
Perfectly clear now & great example, thank you!-- the potential is huge. Many thanks again for all of your help!
Jeff
Thanks in advance, i look forward to sharing more
about ideas and eachother in the future.
-Mike F. Philadelphia Pa
Just a quick note to say thanks for your contributions to the Forex.
Jeff N.
Rick you certainly made the 4X real for me. As a result of your efforts and tutelage I now actively trade this market. You were there for some amazingly successful trades.Here’s wishing you great success personally, professionally & in trading the 4X.
Rick L.
I'm that guy that buys every new forex system that comes out, only to be disappointed in its results. I was always looking for that person that could help me to make money in the forex. So with that being said, I really need to thank you Rick for two things. First, for helping me to finally make money in the forex market and secondly for helping me save money. I know your thinking how did you help me to SAVE money. I'm no longer buying every new system that comes out. Since I have started trading with you I no longer need to buy everything that comes out and that has saved me A LOT of money. If only i had found you sooner I could have put all those thousands of dollars into my trading account. Thanks again.
Daniel A.
Indiana
Hi Rick,
You have my OK to post any or all of the following:
My name is John P and I have just finished my three day trail in Rick's chat room
(forex-24-7.com) and to say that I am pleased, would be an understatement. I tried
several rooms before I found Rick and none could compare with his.
He takes time to make sure all the new people in the room are comfortable and
understand how everything works. And as far as the calls, they have been great.
It fits my trading style to a T, and I highly recommend his room to anyone
looking for a "no brainer" way to make money. He tell you when to get in and wend to get out.
John P
PS If you look at his track record (statements)and think you can come close to his record,
you may be wrong. I was able to bet him for the overall on my three days. This may not happen
again, but for the first three days I had better fills than him.
I do want to say thank you for being the person you are.
This will not be long because I am walking dead tired, once I get the time/sleep schedule down I will be fine.
Your room has given me TIME, time for my daughter, time for myself and time to reflect.
I do well with my own trading and was looking at sometime after the first of the year to go fulltime with forex.
There is not a better business to have on the planet then the forex market. 5 days a week no weekends no holidays, work whenever you want with no boss ( been working for myself 22 yrs now) and make as much or a little as you want.
your room will give me the edge to make that move sooner and I thank you for that.
as for the DD, I have that figured out too and the only trades that were in DD, big DD, were ones I myself was unsure of and that hesitation is what I should have listened to and acted on, my trader instinct if you want to call it that. Same thing tonight but I acted when I felt that hesitation and went to do my own scalping the Euro and the monster and have no open trades but a 704 which is your 729. I set TP on that at 709 which is the daily median M3.
I just thought I would share with you how you have changed my life sooner than it would have happened by myself.
one more thought on the room, if it gets too big it will get too crazy and lose the atmosphere it has now, this is your decision and I'm sure you have considered this already. Think of the time to count 50 or 75 peoples pips and divide them and mark on the board and answer questions, all this in a chat room. that's a tall order even for superman
Regards and Thanks
TM
Hi Rick!
My trial ends tomorrow, naturallyl I will be joining, from what I have observed one would be a fool not to......if one want's to earn serious money/living from 4x trading!! like me and alll of you students/members.
Kind regards
Tony
(tonysclass)
Hi Rick,
hope this message finds you and yours well. First I’d like to say thank you for the opportunity to try your system at no cost. I set up a demo account prior to starting. I’ve spent thousands of dollars on other systems and software and lost thousands of dollars trying them. My wife and kids keep on saying, dad why don’t you just give it up! At times I think maybe they’re right, and maybe it’s time to pull the plug on this venture. But part of me keeps on trying to get back what I’ve lost and part of me say stop before you lose anymore. Just when I was considering to quit, I came across your website and figured what have I got to lose. At most just a lot of sleep but I’ll make up for that three days later. You see I’m self employed in the construction business and I have to get up at 5:00 a.m. every morning. I get home between 6:30 and 7:30 p.m. every day. So when I tried your trial I got to bed by 10:00 p.m. then would get up at 1:30 a.m. to log on to your chat room. Then by 4:00 a.m. I would go back to bed and get up at 5:30 a.m. then rush out the door because I tried to get an extra half hour rest. After three days I was pretty burnt out, but like I said earlier I knew it was only for three days, and I really wanted to see if I could make a living at this. I’m usually off from Jan. to the end of April which is when I really try to apply myself to trading the markets. I trade mostly futures and I’ve tried Forex in the past with no luck at all. I’ve always said to my kids, you only fail when you quit trying. Well after three days with you, I made a profit every night. I didn’t make what you did mostly because my spreads with my broker are higher. So what I’m planning to do now is to find a new broker between now and Jan. and fund an account. Then I will subscribe and trade with you every night. I have to say also I appreciate your attitude towards helping others. You make us feel that no question is to unintelligent to ask. That truly is where my heart is also. And that is helping others. I’m a church going man and the church talks about tithing ten percent of your income. I feel that I’m going to live off ten and give away ninety. Wouldn’t that be awesome? After all you can’t take any of it with you to the grave. Any way I,m getting ready to start preaching.
p.s. I don’t understand what the $250.00 sign up bonus is. And will it still be available to me in Jan.? Or should I sign up now? I just feel I’ll waste a month subscription because I not set up to trade yet.
Thanks again and God Bless You And Yours…………..
Jim L.
Rick,
You might remember me as Chiantiman in the room last night. I traded a demo account and following your calls, I won all 5 trades with a 53 pip gain. That was even missing the first few trades you made as I didn’t arrive till late. I enjoyed the tone in the room. I tried Forex Diamonds but did not like the environment or the random way that the moderator was trading. As soon as I return from vacation, I shall subscribe and look forward to future success with you and the group.
Best regards and thanks again for the trial Rick.
Rob
Rick,
After a few demo days at the start, I have now traded a live account with you for 5 trading days. Whilst I have also placed my own trades during the sessions with you, during which you usually far exceed (and often double) 30 pips a day, my account is up $ 19,689 after 5 days, trading 2-3 lots (see a/c summary attached). This morning was the best session with you as I bagged 142 pips in 6 hrs. Not only are your calls profitable for me, but they help me decide on additional trades, whilst you spend time answering the chat room members’ questions. I admire your patience in answering every question which comes your way whether it is; “what is your risk management strategy?” to “what is a short?”. Congratulations on being able to help so many traders consistently bank at least 30 pips a day Rick - and thank you again for helping me become more profitable.
Rob (Prague, Czech Republic)
Hi Rick,
Well, I am definitely a “True Blue” believer in your system after seeing all the open trades close! Great trades, great trading room, great group to be a part of!
Thanks again for all that you do!
Desertdan
Hi Rick,
At first i will thank you so much for the 1500 pips in 1,5 month !!!
Every day we make some money in the chatroom. Of course we have
drawdown, but with the right money management, there is no problem.
I have an 35k account and trade with 1 lot. So every day i have an
profit with minimum 300$, most of the time i have more then 500$.
That is realy easy trading and is a easy way to make money!
Thank you rick, this is a great service!!
Helme
Hi rick
This is kevin 73 from the chat room... i wanted to thank you as i am
averaging 100 pips a day since i went live this week!
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Subscribe to Forex-24-7.com Alerts & Signals |
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As many of you know from searching the web, looking for the right site to meet your needs as a forex trader....there are a lot of competitors out there! Each of them are good in their own right. Some offer you the promise of the golden key, some you have no idea what they are offering, until you sign up and find out if this is, or is not for me! There are some alert systems that are better then others, and there are some alerts systems that are not so good!
Consistency is the key to trading. Having a track record that shows that is something you should as a trader take into consideration! Our performance record will give you an idea of how consistent we are. The key is to have a system that works, to following the rules to that system, plus a world of patience! How many times did you execute a trade thinking it was going to go one way and no sooner then your trade is placed it turns on you to go back the other way? Or the market stops and lingers at the price you executed for what seems like hours without going into profit one time! So many times you have executed a trade let it go against you for a reasonable amount of Risk and as soon as you close your trade what happens? It turns and goes to your target as to say...I told you to wait!!!
When I started to build this site, one of the tips I got from a friend is to look at the competition and get an idea what they have to offer, and to see how much they charge for their services! I was very surprised! Some of the offers where so good I almost stopped building this site and joined theirs! Then, there was some sites that took my breath away when I found out how much they are charging a member for the monthly fee! Then I knew I had to build this site!
The prices for some of these site ranged from upwards of $1200, or as little as $14 a month! $1200 seams like a lot of money to pay. What if I sign up and they are no good? But then again, what if they make me $1200 a day? How much are you willing to spend to find out if this is the right system for you, or not? $1200? $800? $400 and I promise to send you a card on your birthday? NOPE, not $400! Am I getting close? I can't offer you membership for $14!
I ask that if you join us, please try us with a demo account for the first few days to get an idea how the site works...become a member today and join your other fellow forex traders who thought being in a forex chat room with other forex traders taking "LIVE" real time trades at the same time of the day every day is the way to trade! Or you can join one of the other sites that uses email alerts and wait for that email that might show up today...tomorrow.....or when ever!? LIVE, real time, audio alerts in a forex chat room! What more could you ask for?
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RISK STATEMENT.....move mouse over the words and it will stop the scrolling |
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Please Read The Following Statement
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THE RISK OF LOSS IN TRADING FUTURES/COMMODITIES CAN BE SUBSTANTIAL. YOU SHOULD THEREFORE CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION.
THE HIGH DEGREE OF LEVERAGE THAT IS OFTEN OBTAINABLE IN FUTURES/COMMODITY TRADING CAN WORK AGAINST YOU AS WELL AS FOR YOU. THE USE OF LEVERAGE CAN LEAD TO LARGE LOSSES AS WELL AS GAINS.
IN SOME CASES, MANAGED FUTURES/COMMODITY ACCOUNTS ARE SUBJECT TO SUBSTANTIAL CHARGES FOR MANAGEMENT AND ADVISORY FEES. IT MAY BE NECESSARY FOR THOSE ACCOUNTS THAT ARE SUBJECT TO THESE CHARGES TO MAKE SUBSTANTIAL TRADING PROFITS TO AVOID DEPLETION OR EXHAUSTION OF THEIR ASSETS. THE DISCLOSURE DOCUMENT CONTAINS A COMPLETE DESCRIPTION OF THE PRINCIPAL RISK FACTORS AND EACH FEE TO BE CHARGED TO YOUR ACCOUNT BY THE COMMODITY TRADING ADVISOR ("CTA'').
THE REGULATIONS OF THE COMMODITY FUTURES TRADING COMMISSION ("CFTC'') REQUIRE THAT PROSPECTIVE CLIENTS OF A CTA RECEIVE A DISCLOSURE DOCUMENT WHEN THEY ARE SOLICITED TO ENTER INTO AN AGREEMENT WHEREBY THE CTA WILL DIRECT OR GUIDE THE CLIENT'S FUTURES/COMMODITY INTEREST TRADING AND THAT CERTAIN RISK FACTORS BE HIGHLIGHTED. THIS DOCUMENT IS READILY ACCESSIBLE AT THIS SITE. THIS BRIEF STATEMENT CANNOT DISCLOSE ALL OF THE RISKS AND OTHER SIGNIFICANT ASPECTS OF THE FUTURES/COMMODITY MARKETS. THEREFORE, YOU SHOULD PROCEED DIRECTLY TO THE DISCLOSURE DOCUMENT AND STUDY IT CAREFULLY TO DETERMINE WHETHER SUCH TRADING IS APPROPRIATE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. YOU ARE ENCOURAGED TO ACCESS THE DISCLOSURE DOCUMENT BY CLICKING BELOW. YOU WILL NOT INCUR ANY ADDITIONAL CHARGES BY ACCESSING THE DISCLOSURE DOCUMENT. YOU MAY ALSO REQUEST DELIVERY OF A HARD COPY OF THE DISCLOSURE DOCUMENT, WHICH ALSO WILL BE PROVIDED TO YOU AT NO COST. THE CFTC HAS NOT PASSED UPON THE MERITS OF PARTICIPATING IN THIS TRADING PROGRAM NOR ON THE ADEQUACY OR ACCURACY OF THE DISCLOSURE DOCUMENT.
Forex Currency Club, LLC MAY ONLY PROVIDE FUTURES/COMMODITY TRADING ADVISORY SERVICES IN JURISDICTIONS WHERE IN Forex Currency Clu, LLC IS APPROPRIATELY LICENSED AND/OR PERMITTED BY LAW. OTHER DISCLOSURE STATEMENTS ARE REQUIRED TO BE PROVIDED TO YOU BEFORE A COMMODITY ACCOUNT MAY BE OPENED FOR YOU.
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MARKET NEWS |
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DailyFX Fundamentals
Written by Terri Belkas, Currency Strategist of DailyFX.com
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- US Dollar, Japanese Yen Down Ahead of US Non-Farm Payroll (NFP) Report - What to Expect
- Euro Gains as Manufacturing PMI Hits 9-Month High - ECB Expected to Leave Rates Unchanged on Thursday
- British Pound Mixed as Data Suggests UK Contraction Not as Severe in Q2
- Swiss Franc Gains as Swiss Manufacturing Output Jumps
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| US Dollar, Japanese Yen Down Ahead of US Non-Farm Payroll (NFP) Report - What to Expect |
| The US dollar and Japanese yen both ended Wednesday mostly lower as demand for riskier assets rose amidst some surprising US economic releases. ISM manufacturing was better than expected for the month of June, as the index rose to a 10-month high of 44.8 from 42.8. However, this also marks the seventeenth straight month in which the index held below 50, signaling a continuing contraction in business activity... |
EURUSD - Euro Forecast to Decline Further on Shift in Forex Sentiment
GBPUSD - British Pound Outlook Remains Bearish on Sharp Sentiment Shifts
USDJPY - Japanese Yen Outlook Modestly Bullish Against US Dollar
USDCHF - Swiss Franc Looks to Gain Versus US Dollar
USDCAD - Canadian Dollar Forecast Summarily Unclear Versus US Dollar
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SSI Points to Potential for Further EURUSD, GBPUSD Losses
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EURUSD - Extremely choppy Euro/US Dollar price action has made for sharp shifts in our sentiment indicator, and the most recent turn suggests that the EURUSD could continue to decline. The ratio of long to short positions in the EURUSD stands at -1.10 as nearly 52% of traders are short. Yesterday, the ratio was at -1.72 as 63% of open positions were short. In detail, long positions are 29.1% higher than yesterday and 13.3% stronger since last week. Short positions are 17.0% lower than yesterday and 1.5% weaker since last week. The sharp jump in long positions and similar drop in short positions gives us contrarian signal to look for further EURUSD losses.
GBPUSD - Sharp shifts in British Pound/US Dollar sentiment give us signal that the GBPUSD may continue to decline. Indeed, our sentiment-based forex trading strategies remain heavily short the pair on the pair's recent drops. The ratio of long to short positions in the GBPUSD stands at 1.31 as nearly 57% of traders are long. Yesterday, the ratio was at 1.06 as 51% of open positions were long. In detail, long positions are 10.3% higher than yesterday and 28.7% stronger since last week. Short positions are 10.5% lower than yesterday and 9.4% weaker since last week. The clear forex crowd shift towards GBPUSD longs gives us contrarian signal to sell the currency pair.
USDJPY - The jump in forex crowd USDJPY buying gives us contrarian signal to sell into the pair's declines. The ratio of long to short positions in the USDJPY stands at 1.71 as nearly 63% of traders are long. Yesterday, the ratio was at 1.30 as 57% of open positions were long. In detail, long positions are 9.8% higher than yesterday and 4.4% stronger since last week. Short positions are 16.5% lower than yesterday and 10.1% stronger since last week. The clear shift towards USDJPY buying has left our contrarian sentiment forex trading signals heavily short the currency pair.
USDCHF - Recently aggressive USDCHF buying has given our forex trading strategies contrarian signal to go short the currency pair. The ratio of long to short positions in the USDCHF stands at 2.95 as nearly 75% of traders are long. Yesterday, the ratio was at 3.60 as 78% of open positions were long. In detail, long positions are 19.0% lower than yesterday and an incredible 77.3% stronger since last week. Short positions are 1.2% lower than yesterday and 31.7% weaker since last week. The very recent drop in long orders gives us pause in our aggressively bearish bias, but longs continue to outnumber shorts by nearly 3:1-giving us contrarian bias to sell into USDCHF declines.
USDCAD - Sharp shifts in forex sentiment have given us a relatively mixed bias on the US Dollar/Canadian Dollar currency pair. The ratio of long to short positions in the USDCAD stands at 1.06 as nearly 51% of traders are long. Yesterday, the ratio was at 1.19 as 54% of open positions were long. In detail, long positions are 8.9% lower than yesterday and 11.6% stronger since last week. Short positions are 3.1% higher than yesterday and 3.8% weaker since last week. The net-long bias would normally give us a contrarian bias to sell into declines, but the overnight shift leaves us effectively neutral the recently-volatile currency pair.
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| Talking Points |
- Japanese Yen: Consolidating Above 96.50
- Pound: BoE Says Lending To Household Increased
- Euro: Unemployment Reaches Decade High
- US Dollar: Non-Farm Payrolls on Tap
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| Euro Heavy Ahead of ECB Decision As EZ Unemployment Reaches Decade High, PPI Record Low |
The Euro has steadily traded lower reaching below 1.4090 ahead of the ECB rate decision but has started to consolidate despite the Euro-Zone unemployment falling to a decade low of 9.5% in May. Early forecasts were for a rise to 9.4% as companies continue to shed workers as they try and cut costs to survive the current recession. Meanwhile, producer prices dropped to a record low -5.8% in May from -4.6% on a yearly basis. The month saw prices unexpectedly fall 0.2% versus expectations of a 0.1% gain, as costs of intermediate goods dropped 0.3%.
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Forex Options Markets Show US Dollar Sentiment Near Extremes
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Forex options markets show that professional traders remain remarkably indecisive, and the lack of clear-cut sentiment on the US Dollar makes it difficult to set short-term expectations with any sense of certainty. More medium-term to longer-term options broadly favor US Dollar weakness. Yet it is important to point out that the currency recently set a bearish sentiment extreme across a broad swath of indicators, and we will be on the lookout for a turnaround in short-term USD expectations.
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-GBPCHF reverses from near channel resistance / Fibonacci extension
-GBPCAD testing Fibonacci extension as resistance
-GBPAUD and GBPNZD working higher from long term range lows |
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Forex Capital Markets, L.L.C.® assumes no responsibility for errors, inaccuracies or omissions in these materials. Forex Capital Markets, L.L.C.® does not warrant the accuracy or completeness of the information, text, graphics, links or other items contained within these materials. Forex Capital Markets, L.L.C.® shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation losses, lost revenues, or lost profits that may result from these materials. Opinions and estimates constitute our judgment and are subject to change without notice. Past performance is not indicative of future results.
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Support & Resistance, Trendlines & Key Leveals |
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Dollar steady on lower US Consumer Confidence
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News and Events:
Market was volatile on the last day of the quarter and half-year, and analysts said corporate demand to buy and sell the dollar for last-minute book keeping purposes was driving broader currency movements.
The Dollar steadied overnight, holding gains made the previous day after an unexpected fall in U.S. consumer morale cooled optimism about an economic recovery, prompting investors to seek the safety of the greenback. EURUSD has traded even lower this morning on the back of an FT article rehashing the UK’s bad GDP result yesterday. EURUSD traded in a range of 1.4000-1.4054 and USDJPY in a range of 96.17-96.99 as volatility continues to ease.
The Yen edged down against the dollar after the news but the market's reaction was subdued overall as investors decided that it offered no surprise.
As the BOJ's closely watched tankan survey has passed, investors now await the U.S. government's high-profile monthly employment report.
 Read Today's Key Issues and The Risk Today
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