November 4, 2008 – 9:54 am
Jobless Claims Report and the Investment Markets
The Forex market, like most investment markets, is heavily influenced by some of the key economic news of the day. Not only do investors closely follow these reports or indexes, but also economists and politicians. In fact, overall economic policy can actually be influenced by positive or negative reports. One such report, the Jobless Claims Report, receives a wide level of attention from just about everyone in the nation.
What does the Jobless Claims report measure?The Jobless Claims Report measures the number of new jobless claims for state jobless benefits per reporting period. That reporting period (and release) is one of the shortest around – one week. The actual results are released every Thursday for the preceding week. Even though the report is extremely timely, it can be highly volatile since the number of claims can change greatly from one week to the next. The Jobless Claims Report that is so often publicized in the news is a four-week average, which gives it a little less volatility.
Why is this report so popular?Unlike a lot of other economic indicator reports, the Jobless Claims Report is fairly easy to understand – an increase in the number of state jobless claims basically means that more people are out of work, while a decrease in the number translates into more people being employed. Since the Jobless Claims Report is so easy to grasp, politicians often use its results to garner support for or against current economic policy.
This index is also popular since it’s closely tied into the overall gross domestic product – a greater number of people employed means higher consumption levels, which leads to a higher GDP. On the flip side, less people employed means lower consumption levels, resulting in a lower GDP.
Negative aspects of the reportBesides the highly volatile nature of the index, the Jobless Claims Report does not take into account any seasonal or summer vacation numbers. For example, the number of jobless claims might decrease during the winter holiday season due to the increase in the number of part-time employees and not due to any strengthening in the economy. In addition, no industry breakdown exists, which can negatively affect the public’s opinion on the economy’s overall performance if just one or two industries have reduced employment needs.
OnlineForex trading system platforms provide real-time trading on the Forex market, day or night.
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October 14, 2008 – 10:37 am
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October 14, 2008 – 10:30 am
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September 15, 2008 – 11:09 am
Managing Risk in the Forex Market
You’re in the market to make money, but you realize there’s some risk involved. Perhaps you even enjoy the thrill of the game – the bigger the risk, the bigger the rush. Unless you have limited funds, though, you won’t be in the forex market for long. So how can you balance your need for the excitement for a big trade versus the need to make some money? Develop a trading plan that addresses both risk and reward, as shown below.
Utilize stop orders
Even before you make that first trade you should clearly define your limits. Don’t wait until you’re sitting down late at night in front of your computer waiting to place trades on your Forex system platform. Jot down on your trade journal (or whatever recording system you use) your limits for both buying and selling different currencies. If you buy USD/EUR at a certain rate, then know when to place your stop order (maximum limit) to sell. Suppose you buy USD/EUR at .6436 and you place a stop order to sell at .6422. What you’ve just done is to remove the “emotion†factor from the equation – you’re pulling yourself out of the market before you even lose more by trying to make up for the loss. Essentially, your pride is taken out of the picture.
Consider OCO (one-cancels-the-other) orders
If you want exercise control on the flip side as well (protecting your profits), then consider using the OCO order. Basically, this type of order keeps you positioned within a pre-defined range. It limits your losses while also protecting your profits. It’s used when you feel less confident in controlling your need to earn bigger and bigger profits. Here’s an example how it works.
Let’s say you buy EUR/USD at 1.5568. You want to limit your losses while at the same time protect your gains so you place the following OCO order: a sell-stop order at 1.5548 (sell euro when it reaches this rate) and a sell-limit order at 1.5589 (sell euro at this upper limit). By placing an OCO order, you’ve kept within your pre-determined guidelines.
Discipline and realistic expectations
It takes time, patience, and discipline to succeed in the Forex market. Unless you’ll really lucky, it won’t happen overnight. Be realistic with your return on investment expectations as well and you’ll have a more enjoyable experience investing in the Forex market.
Invest in the Forex market on one of the many online Forex trading system platforms available on the web today. Placing orders is extremely convenient and most online brokers don’t charge commissions outside the quoted spread.
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My recommended forex broker here at this forex blog can be found via clicking the “AVA” link at http://www.starfxcapital.com There is a variety of pairs plus the new indices plus gold and oil. At $200 for a 200:1 leveraged account well worth a try. The speed of execution and the honesty of quotes FAR supercedes most other brokers offering these kinds of spreads and leverage. So check out http://www.starfxcapital.com and click on the “AVA” icon.
Much to report here, will keep you informed if you are signed up to my newsletter.
Right now I am in China. I have videos of me trading in Starbucks which is bringing me much good luck.
Many pips and love,
Sam
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This forex blog is different to others out there in that I actually trade. Therefore I’m not interested in the theory so much as being able to put it in to practise. That is the real test. Hindsight is only useful if you can translate that hindsight in to real time decisions that make a lot of money, fast, or prevent yourself from losing money, or simply staying out the market.
So what is the procedure then for a forex trader who is a retail investor - different goals to banks and institutions and has to make his or her own analysis up to a point. I’ll outline my procedure which I also teach one to one to my students (see http://www.fasttrackforex.com for details)…
coming soon…
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The EUR/JPY cross pair just took a fall after a surprising rally above stops at 155.80. See the pics below of a 1 minute chart representation of the sell-off of the single currency vs. the yen.
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February 26, 2008 – 8:38 pm
These were the moments of Euro’s recent ALL TIME HIGH (see pics below)
The single currency recently topped it’s 1.4966 high and is trading at 1.4973 as I write this post at 2032 GMT.
It’s been a mountainous climb from the 2000 low at 0.8225.
This means for the uninitiated that at this moment the 1 Euro is valued at 1.4975 dollars US. This is the weakest the dollar has ever been against the Euro - close to 1.5000 and no real signs of stopping.
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February 22, 2008 – 11:51 pm
This forex blog is going into lockdown.
More posts are going to be passworded.
Some will be deleted forever.
And a rule is going to be introduced. Until a post receives at least 5 comments, no new posts will be made. So if you’re a visitor and you want more FREE FOREX INFO, don’t be shy, post a comment. I’m always glad to hear from people making a contribution.
Thanks.
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