Forex Plaza

RSS Feed Homepage

Gold vs Silver (2) : Thoughts From Izzy
2008-04-02 12:44:00
By Israel Friedman (Israel Friedman is a friend and mentor to Theodore Butler. He has followed silver for many decades. He has written articles for us in the past. Investment Rarities does not necessarily endorse these views.) The U.S. mint sold 2,170,000 silver eagles and only 26,000 gold eagles in the month of January. By my calculation 83 times more silver eagles were sold then gold eagles. This is an enormous difference that shows you how much more interest there is in silver. Investors are starting to understand that silver is a better investment then gold. I congratulate Mr. Butler that by his writing about silver, more and more people are buying physical silver. In my opinion, the beauty of silver is that any amount of silver you buy will reward you tremendously. Maybe only 0.5% of the world population has heard about silver and...
More About: Gold , Thoughts , Silver , Izzy

Gold vs Silver (Part 1) : Deep Into The Danger Zone
2008-03-17 11:49:00
TED BUTLER COMMENTARYFebruary 19, 2008(This essay was written by silver analyst Theodore Butler, an independent consultant. Investment Rarities does not necessarily endorse these views, which may or may not prove to be correct.)The extreme market structure in COMEX silver (and gold) continues to get more extreme. In other words, the concentrated net short position held by the largest four and eight traders in COMEX silver continues to grow.The most recent Commitment of Traders Report (COT), for positions held as of Feb. 12, indicates the four largest short traders now hold a record position of 59,564 contracts, or almost 298 million ounces, That?s 170 days of world mine production. The eight largest traders are now net short 73,987 futures contracts, or nearly 370 million ounces, That?s 211 days of equivalent world mine production. Let me repeat, these are all records. Never have there been larger concentrated short positions in silver.Since this data comes directly from the COMEX a...
More About: Gold , Silver , Deep , Danger , Part

Warren Buffet : 1st Richest Man in 2008
2008-03-12 21:18:00
A few weeks ago, I just wrote an article about tips for successful from Warren Buffet . In that article, I wrote that he was 2nd Richest Man. Today I just read from Yahoo! Finance that he is already number 1 right now. That is fantastic, he takes Bill Gates out from his position that already had for a long time. This is the original article from Yahoo! Finance.The World's Billionaires 2008 Wednesday, March 5, 2008 YAHOO.Shortcuts.hasSensitiveText = false; YAHOO.Shortcuts.annotationSet = { "lw_1204760289_0": { "text": "Warren Buffet t Takes Top Spot", "extended": 0, "startchar": 443, "endchar": 471, "start": 443, "end": 471, "extendedFrom": "", "predictedCategory": "", "predictionProbability": "0", "weight": 1, "type": ["shortcuts:/us/instance/identifier/hyper link/http"], "category": ["IDENTIFIER"], "context": "Warren Buffett Takes Top Spot Forbes The number 13 has long been considered unlucky by", "metaData": { "linkHref": "/banking-budgeting/articl...

Here's the New Carry Trade.....
2008-03-12 18:29:00
While most of the world's major economies are either lowering interest rates (or about to do so), Australia remains the ONLY country still in "rate hike" mode.They also have one of the highest interest rates of any industrialized nation 7.25%.Then I got to thinking....okay, who (on the other hand) is lowering interest rates. Because if we "paired these guys up" it would be the only remaining carry trade left standing.The Bank of England has been cutting rates. But as of today, they went "on hold". Plus their rates are still far too high to make a good "funding currency".Then I thought of the U.S....After all, they'll be cutting rates more...but the only problem is that the exchange rate is already at 30 year lows. So if you believe that the USD could fall a lot further, then of course AUD/USD could be your current "carry trade candidate"...and there may be some more room left in that one of course.However, the Bank of Canada is cutting rates like that of the U.S. ..The only differ...
More About: Trade , Carry

Warren Buffet : 2nd Richest Man
2008-03-01 09:20:00
There was a one hour interview on CNBC recently with Warren Buffet , the second richest man who has donated $31 billion to charity. Here are some very interesting aspects of his life:1. He bought his first share aged 11 and he now regrets that he started too late!2.. He bought a small farm aged 14 with savings from delivering newspapers.3.. He still lives in the same small 3-bedroom house in mid-town Omaha that he bought after he got married 50 years ago. He says that he has everything he needs in that house. His house does not have a wall or a fence.4 . He drives his own car everywhere and does not have a driver or security people around him.5. He never travels by private jet, although he owns the world's largest private jet company.6.. His company, Berkshire Hathaway, owns 63 companies. He writes only one letter each year to the CEOs of these companies, giving them goals for the year. He never holds meetings or calls them on a regular basis.He has given his CEO's only two rules.R...
More About: Warren Buffet

Moving to MyForexStrategy
2007-10-05 12:50:00
Dear readers,I have decided to join Forex-Plaza with my other blog, MyForexStrategy. So, from now I will post my new forex articles at there. Thanks for your visit and I will be glad if we can meet at MFS. See you at MFS...
More About: Moving

Winners Simply Do What Losers Won?t Do
2007-09-26 09:12:00
Thought the forum might enjoy this quote - copied from Van Tharp Sep 28th Letter"Winners Simply Do What Losers Won?t DoAdopting the belief that ?winners? simply do what the ?losers? will not do is very useful in many aspects of life. After all, that is the case in the field of investing and trading. So let?s step into that belief and see what naturally follows.Here are some winner/loser opposites. If you find yourself disturbed by any of these, you may have stumbled across a clue to an area in which you need to spend some time. Use all the tools you have learned from the Peak Performance Course to investigate ways to step beyond and overcome your limitation.============================== ==================== ======1) A winner crafts a detailed business plan which includes on-going reviews and sticks to the plan.A loser thinks a business plan is something he?ll get to one day in the future after he has achieved some success trading.2) A winner designs systems with high positive expect...

10 Tips for Online Forex Traders
2007-09-21 10:58:00
By Abe CofnasWithout a doubt, trading is more than a few quick tips for success. You need experience, fortitude, capital and, above all, a solid trading system. However, for beginners and those who are perhaps losing their focus amid significant drawdowns, keeping things simple can introduce much-needed focus into your trading.To that end, here are 10 tips for trading e-forex that can help you get a handle on these exciting markets.1. For small accounts especially ($25,000 and under), trade with the trend. Many beginners look for trades in any direction. While forex trading easily permits bi-directional trading, trading in the direction of the trend improves your odds over the long run.2. Have two accounts. One real account and the other a demo account. Learning doesn't stop when trading real dollars begins. Keep the demo account and use it to test alternative trades, alternative stops, etc. For example, you can shadow your real trades with identical ones in your demo account, but ...
More About: Tips , Forex , Traders , Online

38 Steps To Becoming A Successful Forex Trader
2007-09-20 15:05:00
1. We accumulate trading information - buying books, going to seminars and researching.2. We begin to trade with our 'new' knowledge.3. We consistently 'donate' and then realize we may need more knowledge or information.4. We accumulate more information.5. We switch the currencies and time frames we are currently following.6. We go back into the market and trade with our 'updated' knowledge.7. We get 'beat up' again and begin to lose some of our confidence. Fear starts setting in.8. We start to listen to 'outside news' & other traders.9. We go back into the market and continue to donate.10. We switch currencies and time frames again.11. We search for more trading information.12. We go back into the market and continue to donate.13. We get 'overconfident' & market humbles us.14. We start to understand that trading success is going to take more time and more knowledge then we anticipated.----------------------------- ---------------------Many Traders Will Give Up At...
More About: Forex , Steps

Trader Level #5
2007-09-18 10:54:00
Level #5. Unconscious CompetenceWhen you reach this level 5, this is the most wanted by all traders in this world. In this level, you can trade naturally, you have skilled everything, can dance with the market. Wherever the market goes, you are in the right position so just watch your profit goes from 2 to 3 digits.This is the top level of a trader, the utopia level, you have skilled your emotion and now you trade with bigger and bigger account day by day for total of your profit.You will be the star in the trading chat room, and people will always hear your words, you know what are their questions, because you were at their position 2 years ago. You will give advise to them, but you know that mostly won't listen because they are still in the first level.You won't have any financial problems again, have ability to buy anything that are sold, can buy islands and do trading from there as long as there is an internet network, you can move to 5 star hotels and stay at there.You have i...
More About: Level 5

Trader Level #4
2007-09-17 08:23:00
Level #4. Conscious CompetenceOk, now you only trade if and if only your system give you signals. You cut loss as easy as take profit because you know if your system will give more profit than loss, and your cut loss is business risk about maximum 2% from your account.At this level, you start give target for 20 points per day and after you can do it consistently as long for a several weeks, you will increase your target at 40 points per day. And finally you will be succeeded doing this.You still must do hard work for get it, repair you system, control your emotion, and keep the money management that you plan it.This level usually run about 6 months.From 5% of traders at this level, only about 3% can move to the next level.

Trader Level #3
2007-09-16 06:37:00
Level #3. The EUREKA MomentAt the end of level 2, finally you will realize core of problem is not the system. You will realize taht you will get profit even if just using a simple system like moving average without other indicators, only if you can use your brain and true money management.You begin to read books about psychology trading, and identify with character which explain in the books. And then come the Eureka Moment.This eureka level make your brain realize one important thing that in this world nobody could predict accurately what will happen in the market at the next 30 seconds.You begin to stick with one trading system and modify it with your character and give more profit compared with the original system.You begin to trade if you know the probability of win is bigger that lose, only trade if there are a signal from the system, always use stoploss just because you know that stoploss is the business risk in trading world.If your stop is hit, you won't be mad because you ...

Trader Level #2
2007-09-14 15:21:00
Level #2. Conscious IncompetenceAt this level, you realize that you can't trade and don't have ability to make profitable trading consistently. And you know the solution and realize that at level 1, you was blur by emotion so can't think clearly.At this level, you will look for holy grail system ( system that is perfect, 100% profitable, never loss), start to buy many system from websites, read all forex sites from UK,USA,Australia, Europe until Russia. You read all ebooks, practice all system that you got. You will thirsty like a man in the middle in the desert who are looking for drinking water.At this level, you will read all details about indicators, test every single indicator in Metatrader Platform, or even you will make your own indicator (usually based at 2 or 3 indicators), play with moving average, fibonnacci lines, pivot points, camarilla pivot, deMark, Fractals, Divergence, DMI, ADX, Bollinger Bands, and hundreds of other indicators.You know that market is too compli...

Trader Level #1
2007-09-14 13:42:00
#1. Unconscious IncompetentAs soon as you sign the trading agreement completely, here you are. You become a trader because you heard that a trader's income can beat a CEO's. Beside when was doing simulation, you already got profit 3 times bigger, so what the difficulty?You could get the profit with amazing result about 100 - 200 pips per lots per day, but that was just a beginner's luck. In the beginning, you would believe that depending just 1 indicator is enough, or maybe just using your instinct will gain profit.But unfortunately, market beats you. There is no trader that succeeded with just using luck factor. Loss is coming to you one by one, you just defend yourself until out of margin. Who can survive with too much loss?You don't realize that can't do trading at all, still think that you can do it even all the facts said no. ( did I get profit for this month or last month or this year?)You are still thinking that you are a special person who can getting rich from trading....

10 Most Deadly Thinking in Forex Trading
2007-09-13 18:41:00
10 Thinking that forex traders must not leave in their mindsThinking that they can control the marketUsing indicators are 100% safeFollowing market prediction without analyzingDoubling their lots to replace their lossStop learning and analyzing when already get some profitsHold a loss position in order to wait the price backUnderestimate writing daily journalOpening new position without planThey will never loseBrokers can't lose
More About: Forex , Trading , Forex Trading , Deadly

A Series of Trader's Level
2007-09-13 17:52:00
According to this article, there is a classification for forex traders based at their achievement. Start from today, I will post the level of classification. Hope this is useful to consider your trading level.The trading level of a forex traderLevel #1 : Unconscious IncompetenceLevel #2 : Conscious CompetenceLevel #3: The Eureka MomentLevel #4: Conscious CompetenceLevel #5: Unconscious CompetenceRead them all at my next post!
More About: Series , Serie , Erie

Think like Real Trader
2007-09-13 17:10:00
In principal, trading forex is same as any trading form in this world. The basic strategy is buy at low and sell at high. But why this simple strategy is so hard to do? Because nobody can control the market. High and low are decided by conclusion and psychology level from all traders in this world. The basic economic law about trading is there must be a balance between supply and demand. When a resistant level of price is broken, the balance is changing.Why we must think like a real trader? Because trading forex is same as like any trading form in this world. In real life, real trader acts in same way. If a good is too expensive for him, he would not buy it. He will wait until he feels the price is acceptable and profitable. And of course, when a good is too cheap, he would not sell it because he will lose his money. This very basic formula is also very basic trading psychology for man.Many beginner traders act just like they are professional. They think that they could control the ...
More About: Real

Understanding Fundamental News
2007-09-13 11:02:00
There are many fundamental news that are watched by traders. Among of them, I select several news that have big influence in price movements. I figured that not all of "good news" is good and vice versa. Let's discuss about them one by one sorted from the most important news (remember, the qualification for most important is based at my experience).Interest Rate Statement. The mother of all fundamental news is this one. If a central bank release higher rate, bigger possibility their currency will increase and vice versa.Inflation report (PPI,CPI). Many traders follow the perspective of forex sites but for this one, I choose to follow mine. Usually in many forex sites, if inflation report of a country is going up, they will say that is a bad news. But in my understanding, if inflation is going up then Central Bank has to raise the interest to cooling down the economic growth. So, if inflation is going up then currency will be follow in the same way.Non Farm Payroll (NFP). Since US$ ...
More About: News , Fundamental , Understanding , Amen , Dame

Software : Forex Strategy Builder 2.4.2
2007-09-13 10:00:00
Forex Strategy Builder (FSB) is a complete system for creating and testing of Forex trading strategies. It provides an easy way for building strategies as a combination of technical indicators. Language: English Publisher: Miroslav Popov License: Freeware Category: Business & Finance / Business Finance Price: USD $0.00 Filesize: 1.7 MB ...
More About: Software , Forex , Rate

Maximize Your Profit
2007-09-13 07:53:00
Until now, I still don't find a holy grail forex system that can win 100%. Maybe someday, one of us will find that. But until that day, do we stop trading forex? Personally, I won't wait for the holy grail. No one is perfect just like forex system. So, what can we do to survive at this forex jungle?The answer is simple but hard to do, minimize your loss and maximize your profit. If you want to survive, your profit must be greater than your loss.Ok, let's talk about maximize the profit. There are several ways that I would mention it below. Here they are :Divide your position into several trades. The goal of this system is gaining higher level TP (Take Profit ) and keeping the profit step by step.Use Trailing Stop after position is profit. This could be a good way to eliminate the fear factor and saving a lot of time beside doing by manual.Use some meta scripts to handle your position easier. There are some scripts for MetaTrader Platform that can help to handle position much easier...
More About: Maxi

10 Secrets of Successful Forex Trader
2007-09-12 14:59:00
These are 10 tips that I think must do to become successful forex trader :Learn from your losingFind what factors that made you lostDo not repeat the loss factorsChange your loss factors into winning factorsMake a plan for your tradingDo your plan and stick with themAlways use Money ManagementUse strategy to maximize profitsTake your loss like your profitLearn about market psychologyHope these things can help you to become a successful trader, too.
More About: Forex , Secrets

Trading Forex is Simple or Complicated?
2007-09-09 07:41:00
That is a question for me after doing trading forex for almost a year. I have been looking for the answer for a few moment until I found the answer for myself. Trading forex can be simple or complicated depends on our knowledge about forex itself. Trading forex is same as many kinds of trading terms in this world, what makes it different are the items that being trade and the influence factors.For beginner, there are a lot of things that should to be learn to become successful in trading forex. I think the word "learn" is making it looks complicated (I am a lazy student, LOL). But there are almost no man in this world that become successful without learning. From we born, we have been learning a lot to become like today. Stand up, walking, running, eating, writing, typing, bla.. bla.. bla.. (that I should mention all?) are things that we have learnt until today. So, if you want to become a successful trader, you should LEARN it. There are a lot of site that gives something to learn,...
More About: Forex , Simple , Complicated