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Forex trading is one of the several types of trading happening in the US. If you’re making an investment in the foreign exchange market, you’re getting yourself involved in the foreign currency trading business. Forex has come up as a great way of making fast money especially at this time when the whole world has been facing a deep financial crisis. This article focuses on how you can erase your debts faster through foreign exchange investments. You may go to a credit counselor to find solutions to your debt issues, but there’s no way you’ll ever make your way out of debt unless you have the necessary funds.
The purpose behind Forex investments
It isn’t that Forex trading is all about addressing debt issues. There are lots of other financial goals that people have in mind as they make investments in the foreign exchange market. Making extra cash is one of the many reasons that people go into Forex trading for. Aside from that, people arrange funds to cover expenses for their vacations. Well, out of all the reasons that people choose Forex trading for, erasing debt is the most important. This is because Forex trading brings huge benefits as one seeks his/her way out of debts.
Erasing debt with Forex trading
It’s nothing but adequate availability of funds that’s going to help you repay your debts. With Forex trading, you have a smart source of income as well as a definite way of making sure that you are regular on your debt payments. Since Forex trading is a type of investment, you’ll need to have adequate knowledge to be able to carry on with the trading process successfully. It’s very important that you have an equal amount of practical knowledge so that you can prevent the loss of huge amounts of money in the trade. Additional losses in the trade are going to make your debt situation worse.
The following are some of the reasons why Forex trading has come up as a popular trade all over the world:
Flexibility in investment – You’re free to invest any amount in the Forex market. There are no upper or lower limits as such. Benefits will always be there for you if you have done your homework well.
Easily accessible – Access the Forex market without the time and location constraints. Internet connectivity is all that you’re going to need to link to your Forex trading account irrespective of time and location.
Impressive liquidity – You won’t find any other investment market as liquid as the Forex market. As an investor, you can get money whenever you want.
Low expenses – There is no reason to be worried about the Forex trading expenses. Low transactional costs and zero commissions and brokerages make sure Forex trading continues to remain attractive to investors worldwide.
It is wise to work with an expert if you don’t have adequate practical knowledge in this area. Working tactfully is what matters the most as you seek income through Forex trading.
The Labor Department released unemployment figures this morning and at first blush things look well. The report shows the unemployment rate has dropped to only 7.7%. The reality behind that figure tells a much different story. The labor force participation rate has dropped to levels not seen since 1980 and 1982. Would-be workers have given up on finding jobs. Furthermore the last two months of labor statistics have been revised down by some 49,000 jobs from the numbers they originally reported.
As always, it's good to have perspective about what's really going on behind the scenes when headlines flash great news.
I frequently review the progress of the futures I trade against this hourly chart with a VWAP study applied. Traditional use of VWAP (Volume Weighted Average Price) is for intra-day movement and is often tied into algo trading. For my purposes, I change the study to reflect the Monthly VWAP price along with one and two deviations above and below.
When trading on Wednesday took a decidedly north turn, the target immediately became 1408.5 which was achieved shortly before the closing bell. Overnight action has pushed further north and caused me to watch for another compression/squeeze setup that could easily retest 1408.5 with an opportunity to reach that 1430 level again.
Several of us at New Level Traders have been watching crude oil futures on the daily chart as it is currently in a squeeze. It has recently as of last week found a bit of a lift from divergent prices into the $84 range. Momentum was looking as if this chart would break to the upside but currently it is still compressed. Patients will be required to see how this unfolds.
The recent push in the 1370's on the E-mini S&P was following a recent bullish channel trend. The problem that requires more attention is the fact that price levels during the mid July timeframe had become quite divergent and thus prone to a pullback. This downward pressure started on July 20th and continues still; through Apple and other signifigant earnings.
As a community of traders, New Level Traders is excited to be presenting at the TradersWorld Online Expo. Be sure to join one of our Co-Founders, Brian Potts, as he discusses "Getting Market Internals Right". His session will be held on May 14th at 11:00am EST (10:00am CST) and will be a tutorial on using NinjaTrader to set up the Market Internals that every trader needs. The topics will include a review of some of the basic metrics to more advanced studies that the members of New Level Traders have found helpful. There will be no slide presentations, no selling of anything, just straightforward help.
Be sure to register for the event at: www.TradersWorldOnlineExpo.com
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Three parts of Demark theory working together here. A TD setup fired and completed in February. That was followed by a perfected TD Countdown (13) recently. Importantly, a second TD Sequence completed yesterday where the 9th bar failed to close about the high of the 6th bar; (an import topic in Demark theory). As such, per my discussing in the trading room yesterday, I am expecting the ES to pull back from here. Please note, this does not mean that the market is going to entirely roll over at this point.
Members and Friends,
We just launched the newest feature of our "social network for traders"; a forum component to the website. This has already been well received and some great traders are starting to share their ideas.
It was specifically designed to allow for sharing of trade ideas, education videos, even a Q&A session for those who have questions about New Level Traders. We hope you check it out soon.
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All of us at New Level Traders hope you can meet the industry's top traders and educators in New York at the International Traders Expo at the Marriott Marquis Hotel. With over 200 live sessions to attend, you can learn new strategies from top traders, network and exchange ideas with other traders and get valuable trading education for free. Be sure to stop by and visit NinjaTrader at booth #5509
Crude Futures have been in sharp compression for at least the last week. As of this writing, Friday Feb 17, that compression is resolving to the upside. The frequently leads to a strong move and should be reviewed on your chart setups.
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