Tuesday, 30 April 2013

Industry User Reviews Contest $3700 in Prizes and 10 Winners!

Forex Razor Industry User Reviews Contest, May 2013
Contest - Starts: Immediately    End: May 9 10:00 AM UTC
Cash Back Forex / Forex Razor is asking for your help in building a collection of helpful industry user reviews and would also like to reward your efforts with some cash payouts / and links to your blog or website, if applicable.

Forex Razor is hosting an 'Industry Review' contest with 10 winners and $3700 in prizes
.

Facebook Excel Markets Tweet Excel Markets Reddit Excel Markets Digg Excel Markets

Monday, 29 April 2013

CFTC COT Report 23 April 2013 - Speculators Add to USD Long

CFTC Commitments of Traders (COT) Report 23 April, published 26 April 2013 - Technical Analysis.  The speculators net long in the USD increased last week  to 328K contracts, up from 300K in the prior week.  Most of the change came from selling in the Australian Dollar versus the USD.  There was also a small reduction in the short yen versus the USD.  Other position changes were minor.

There was a small increase in the size of the euro short position, and this contrasted to the change in the SF.  Since the SF and the euro have been pegged together by the Swiss, these two currencies have usually moved together.  With specs flipping to the  long side of the Swissie, this was not true last week.

Facebook Excel Markets Tweet Excel Markets Reddit Excel Markets Digg Excel Markets

Saturday, 27 April 2013

Notice of Conditions of Trading on Metals

NOTICE TO EXCEL MARKETS TRADERS AND CLIENTS

Due to the low liquidity available on metals between the hours of 5:00 p.m. - 6:00 p.m. (New York) Monday-Friday which has had an adverse effect on available spreads, Excel Markets has decided to close trading on metals between these times in order to protect Clients from widening spreads resulting in stop outs etc.

If you have any questions or concerns regarding this matter please contact support[at]excelmarkets.com.

If you should have any feedback or questions, please don't hesitate to contact us.

Excel Markets support[at]excelmarkets.com

Excel Markets ECN Forex Broker Support
Facebook Excel Markets Tweet Excel Markets Reddit Excel Markets Digg Excel Markets

Building a Forex Position

Ralph Shell, Excel Analyst

Commenting this week on our website, a trader was celebrating because his long GDP/USD, that he had built over the past few weeks, was paying off.   In my opinion, the money you make from building and holding a position over a period of time is money you well deserve.  During the period when you hold the position, traders spend too much time screen-staring, watching the price, and scanning the news. 

Facebook Excel Markets Tweet Excel Markets Reddit Excel Markets Digg Excel Markets

Thursday, 25 April 2013

Euro Strays Away From Fair Value - Briefly

Ralph Shell, Excel Analyst

If you don't like this price, wait, because it will change. 

That is how the euro has been trading today.  Early in today's session, the Euro was working higher, perhaps because Angela Merkel said higher interest rates were good for Germany.  Trade in the euro had been weaker, anticipating a reduced ECB rate, so this was unnerving to the bears.  The EURUSD rallied close to the 1.31 handle and then got whacked, selling off about 100 pips.

Facebook Excel Markets Tweet Excel Markets Reddit Excel Markets Digg Excel Markets

Tuesday, 23 April 2013

Is the Euro Priced Right at 1.30?

Ralph Shell, Excel Analyst

Is the Euro Priced Right at 1.30?Years ago a veteran trader, well into his eighth decade, gave me an order to buy a 100 contracts of Kansas City wheat.  Though grateful for the order, I wanted to make sure this old boy was still lucid because the wheat market had been going nowhere.  So I asked him to confirm the order and tell me his reasoning.  He replied, "Ralph, sometimes when a market cannot go down, it goes up."  He had to hold the trade several months, but he ended up with a big winning trade.

Facebook Excel Markets Tweet Excel Markets Reddit Excel Markets Digg Excel Markets

March 2013 Demo Trading Contest Winners Announced

Congrats to the Top 10 Contest Winners ... and to the many others who came very close!

The winners have been officially declared and you can see the final rankings including the top 10 on the rankings page.  4 contestants were disqualified to get to the top 10; however, one of those was Steven Randolff who is staff here and just competing for fun.  Reasons for disqualification included potential exploitation of near-zero slippage on the demo feed (entering and existing many trades within 1 minute), and having multiple accounts.

Facebook Excel Markets Tweet Excel Markets Reddit Excel Markets Digg Excel Markets

CFTC COT Report 16 April 2013 | Speculative Buying in the Euro

CFTC Commitments of Traders (COT) Report 16 April, published 19 April 2013 - Technical Analysis.  There was aggressive buying in the euro during the latest period.  We suspected the run up to the 1.32 level on the 16th of April was short-covering, and the market has subsequently reversed.  The total euro short came down to 48.2 from 73.1k last week.  The SF, pegged to the euro, can be partially viewed as a proxy for the Euro.  There was also a 16.1K liquidation in the short position of the SF, a large number in a small market.  We are beginning the week with fresh selling in the Euro.

Facebook Excel Markets Tweet Excel Markets Reddit Excel Markets Digg Excel Markets

Friday, 19 April 2013

Bank of Japan's Kuroda Goes to Washington

Ralph Shell, Excel Analyst

Bank of Japan's Kuroda Goes to WashingtonHow has the rookie Bank of Japan Governor Haruhiko Kuroda been received at his first G20 meeting in Washington this week?  Kuroda was appointed by PM Abe in March at which time he claimed his goal was to end deflation.  Rather, an inflation rate of 2% was to be achieved in two years, a sharp departure from the previous years.  Achieving that goal will involve increasing the balance sheet of the central bank, buying Japanese bonds and other paper.

Facebook Excel Markets Tweet Excel Markets Reddit Excel Markets Digg Excel Markets

Thursday, 18 April 2013

The Euro Takes a Dive

Ralph Shell, Excel Analyst

After chasing out euro shorts Tuesday, running the EURUSD well above the recent recovery to a new high slightly above 1.32, the pair has reversed yesterday.  The euro's behavior had been baffling, considering the weak economy, the arrogant ending to the Cyprus crisis, and the increasing European hostility to the austerity solution as proposed by Chancellor Merkel and her Finance Minister Wolfgang Schauble.

Facebook Excel Markets Tweet Excel Markets Reddit Excel Markets Digg Excel Markets

Wednesday, 17 April 2013

Currency and Commodity Trading in Turbulent Times

Ralph Shell, Excel Analyst

After witnessing on my screen the market's wild fluctuations, then viewing on TV the tragic events in Boston, the word turbulent came to mind. The Reference.com definition is as follows: being in a state of agitation or tumult: disturbed; characterized by, or showing disturbance, disorder; given to acts of violence and aggression.  Between the gold markets plunge and the violence at the Boston marathon it was a very turbulent day indeed. 

Personally, I have never understood the appeal of gold and precious metals.  Often, it seemed the market analysts were more like high pressure sales people, the kind that appear on late-night infomercials.  The story that paper money is merely fiet has become a modern fable.  Only gold represents real value and everyone needs to own gold before the surplus of paper money causes inflation.  Perhaps, but this is an very old story.  It was reported, today, the US CPI Core M/M was up only 0.1% less than expected and only 1.9% for the year.  Bernanke has been creating paper money at record rates, and where is the inflation?

Facebook Excel Markets Tweet Excel Markets Reddit Excel Markets Digg Excel Markets

Monday, 15 April 2013

CFTC COT Report 9 April 2013 - Speculators Reduce USD Long

Excel Markets ECN Forex Broker Demo Account Trading Contest - $10,000 Cash Prizes! - April 2013CFTC Commitments of Traders (COT) Report 09 April, published 13 April 2013 - Technical Analysis.  When all the numbers are tallied, the spec, in the major currencies covered, reduced his USD long position by some 22K contracts.  Considering the total amount of trade in the currency market, this is a minor reduction in the USD long.  The biggest reduction of the USD long came the covering of shorts in the SF, the euro and the yen.

It can be argued that this aggregate total is not a good measurement of the USD strength, but merely a tally of what specs consider the less preferred.  That is certainly correct, but we think it is wrong to summarily dismiss the importance of this tally.  Losers in a beauty pageant can get a lot of second place votes, and thus the winner is elected. 
Facebook Excel Markets Tweet Excel Markets Reddit Excel Markets Digg Excel Markets

Saturday, 13 April 2013

Is Japanese Wealth Heading to Australia?

Ralph Shell, Excel Analyst

Excel Markets ECN Forex Broker Demo Account Trading Contest - $10,000 Cash Prizes! - April 2013By now, Japanese savers have been fairly warned that their savings - the portion not invested in Japanese stocks - had best be parked elsewhere.  The Japanese have trillions of dollars of savings, so where is the accumulated wealth to be allocated while PM Abe and friends flood the markets with newly-printed yen?

Conventional investment banker wisdom touts local equities and commodities.  The run-up in the Nikkei 225 to the top side of 13,500 from under 8600 in mid-November has been good advice. Gold and other commodities are weak, but really, commodities and equities are hardly suitable for the aging Japanese savers.

Facebook Excel Markets Tweet Excel Markets Reddit Excel Markets Digg Excel Markets

Friday, 12 April 2013

How Important Are Your Friday Trades?

Excel Markets ECN Forex Broker Demo Account Trading Contest - $10,000 Cash Prizes! - April 2013Are trades you make on one day of the week more important than another day?  Why should there be any difference, you might ask, when the trading is done online, and the day should not really matter?  The market opens early Monday in the Asian market, which equates to 22h00 or 23h00 Sunday Dublin time, and 17h00 or 18h00 East Coast US time.  The time can vary, depending upon whether daylight saving time is on or off - but why should the day matter?

Facebook Excel Markets Tweet Excel Markets Reddit Excel Markets Digg Excel Markets

Thursday, 11 April 2013

Which Way for the Loonie?

Ralph Shell, Excel Analyst
Excel Marekets ECN Forex Broker Demo Account Trading Contest April 2013
Whether the Canadians like it or not, their economy and that of the US are bound together, though not with a single currency.  The under-performing countries in Europe are locked into a single currency, unable to recovery from a competitive disvantage with a weaker exchange rate.  Considering the recent economic numbers from Stats Canada, this could be the time when Canada will be better served if her currency were to trade at a discount to the US dollar.

Facebook Excel Markets Tweet Excel Markets Reddit Excel Markets Digg Excel Markets

Tuesday, 9 April 2013

Excel Markets Forex Demo Account Trading Contest - $10,000 in Cash Prizes

Excel Markets Forex Demo Account Trading Contest - $10,000 in Cash Prizes - 10 Winners


The Excel Markets trading contest offers $10,000 USD in CASH prizes and utilizes demo accounts so it is risk free. 

Forex Razor will be hosting it's second trading competition beginning April 15, the same day the March contest ends. This time the ante is even larger, sponsored once again by www.excelmarkets.com the prize pool for April's trading contest has grown from $5500 to $10,000 USD Cash! First place walks with a whopping $5000, second with $2000, third with $1000, and 4th and 5th both get $500 with the remaining 5 places getting $200 each. 

Facebook Excel Markets Tweet Excel Markets Reddit Excel Markets Digg Excel Markets

Monday, 8 April 2013

CFTC COT Report 02 April 2013 - Speculators Buy More Dollars

CFTC Commitments of Traders (COT) Report 02 April, published 05 April 2013 - Technical Analysis.  Speculators increased their aggregate net position in the USD to 338,399 contracts, up from 322,132 in the previous week.  Almost all of the increase was caused by additional short selling in the euro, as well as a very minor amount of pound selling. 

The largest speculator position remains a short 120,687 contracts in the yen.  This represents a small reduction - 9331 contracts - from the last report.  The next largest position is a A$ long of 96,324.  As noted below, there has been a lot of A$ buying with only little gratification.

Facebook Excel Markets Tweet Excel Markets Reddit Excel Markets Digg Excel Markets

Sunday, 7 April 2013

US Economic Data Continues to Disappoint - Both USD and Equities Hurt

Ralph Shell, Excel Analyst

Friday's Non Farm Payroll (NFP) Report (05 April 2013) continued a string of US reports that fell short of expectations.  According to this report, only 88K jobs were created in March, far less than the 190K estimated.  They did upwardly adjust the February numbers from 236 to 268, and the Jan number went up from 119K to 148K.  The markets, however, are moved by headlines, not footnotes, so this number put pressure on equities and the USD.

Facebook Excel Markets Tweet Excel Markets Reddit Excel Markets Digg Excel Markets

Friday, 5 April 2013

Markets Busy on Central Bankers' Day

Ralph Shell, Excel Analyst

Yesterday, Thursday, was an especially busy day for the Central Bankers.  At 6.30 a.m., London time, the new BOJ Governor Kuroda gave the first Central Bankers' Day report.  Recently there had been skeptics, fearful the Bank of Japan might revert to the previous timid policies; this, according to a Nikkei report, was untrue:

"We cannot achieve the inflation target as long as we take policy steps in an incremental manner" as the previous BOJ leadership had done, Kuroda said at a press conference after the end of the BOJ's two-day Policy Board meeting.

Facebook Excel Markets Tweet Excel Markets Reddit Excel Markets Digg Excel Markets

Thursday, 4 April 2013

A Forex Trade for End of Week

Recent economic numbers from the US suggests the recovery may not be as rosy as desired.  This string of disappointments began with the US durable goods report, and goes from there to numerous US economic reports that fall short of expectations.  Today, we had the USD ADP Employment Change - at 158K was well short of the anticipated 200K.

Facebook Excel Markets Tweet Excel Markets Reddit Excel Markets Digg Excel Markets

CFTC Commitments of Traders (COT) Report: Big Spec Buying in Australian Dollar

CFTC Commitments of Traders (COT) Report, 29 March 2013 - Technical Analysis. There was big buying in the Australian Dollar in relationship to the USD that reduced the total USD long during the period.  The net USD long position dropped from 344K to 322K during the week.  There was also buying in the New Zealand Dollar.

Speculators hold large short positions in the yen, the pound, the Canadian Dollar against the USD.  They did increase their short in the euro versus the USD but that position is only about 60K contracts.

Facebook Excel Markets Tweet Excel Markets Reddit Excel Markets Digg Excel Markets