September 28th, 2009
We’d like to thank those who attended our live webinar last weekend. If you missed it, you can listen to the recording at the LiveConnect web site.
Some of you requested additional information on the features and function of LiveConnect. So, over the past week, we’ve been busy putting together a very comprehensive tour of LiveConnect.
This tour contains….
- A video tour of the various components of LiveConnect
- A Sample Strategy Tutorial
- A Sample Daily Pre-London Analysis
- A Sample Weekly Trade Summary Video
- A Sample LiveTrade Video
We hope this information will give you a feel for how LiveConnect works and how it can be beneficial to your Forex training.
Thank you for your attention,
Vic and Jarratt.
Forexmentor.com
Tags: Forexmentor, LiveConnect, tour, webinar
Posted in Announcements, LiveConnect | No Comments »
September 23rd, 2009
In Forex trading we talk a lot about letting emotions cloud your judgement. It’s all too easy, especially for new traders, to let feelings get in the way of a successful trading plan.
Often traders feel like the market is going against them on every trade. As if there is some force behind the market that reverses price action once you take a trade.
A great thing about the Forex market is that it has such great liquidity, meaning that price action cannot be control by a small number of traders, allowing much more trading to be carried out based purely on technical analysis, as opposed to shares where it’s largely based on news, or fundamental analysis.
But while it is important to suppress those emotions that lead to bad trading decisions, system chasing and consistent losses not consistent profits, it is also true that sometimes you need to trust your instinct.
 Trust your instinct. Pic: Joe Nangle Many new Forex traders don’t know where to start when they look at a price chart. Once this hurdle has been overcome through taking one of the many Forex trading courses out there, a certain ’sixth sense’ will develop about the markets. You’ll start to develop a ‘feeling’ about where price action is likely to go, or whether particular levels of support or resistance are likely to hold.
This is an important aspect of trading and is built up based on your experiences of watching price action. You will find that you will learn to spot, more quickly, previous levels of support and resistance and will make decisions about taking trades that you previously wouldn’t have been aware of.
It’s only with practice that this ‘higher level’ of understanding of price action on the currency pairings comes about and it’s useful if you’re able to get a better understanding by trading alongside others using the same or similar trading styles.
Tags: emotion, Forex, instinct, learning forex, price action
Posted in Psychology | No Comments »
September 20th, 2009
If you missed the webinar recording yesterday, don’t worry! The recording is now available to view online.
You can view the free Forex webinar at the LiveConnect web site.
Tags: Forex, webinar
Posted in LiveConnect | No Comments »
September 18th, 2009
In case you missed it, we will be conducting a free informational webinar on Saturday, Sep. 19 at 11AM EST. This webinar is designed to demonstrate how the Forexmentor LiveConnect/Coach’s Corner community can offer much needed support to Forex traders of all levels. If you are still trading alone and feel you need support, you simply need to attend this webinar.
Last week I interviewed an LC member, Darren Davidse, and this interview should give you a bit of an idea as to the kinds of changes that many people are seeing by staying focused on a solid trading plan, which is what we try to help people do with the LC/CC services. Listen to the short interview online now.
As mentioned, we’ll also be joined by a special guest, Rob Pampling in the webinar, who will give you specific information about the performance of a fund that he is involved with that trades using the basic trading methodology that is shown in the LiveConnect service.
We’ll also be providing you an update of a real account that is run by one of the LiveConnect’s moderators – Chris Mathis, who watches for nothing but MACD divergence trades for the LC members.
Complete details and free webinar registration information can be found on the LiveConnect web site.
There will be a Q&A session following the webinar.
Thanks to all of you, and we hope to see you at our free webinar this Saturday, September 19th at 11 AM Eastern Time.
Vic Noble, Jarratt Davis
Forexmentor.com
Tags: Forex, learning, LiveConnect, training, webinar
Posted in LiveConnect | No Comments »
September 17th, 2009
Trading the Forex markets is something that has to be learned and 95% of those who go through that learning process actually fail. But it’s not their intelligence that’s letting them down, it’s their emotions. Emotion is the fork in the road and choosing left or right will make or break your chances of becoming a profitable trader.
 Pic: Alosh Bennett This simple fact – that 95% of traders fail – has lasted well over the years, despite even more sophisticated tools emerging. There are countless Forex bots around that claim to win every time, numerous systems that guarantee profits. Yet still most traders take the wrong turn and lose it all.
To a certain extent Forex is simply logical. You can apply technical analysis approaches and come up with a straight forward, logical answer to the common question, “when should I buy or sell?” There are those that don’t use a logical approach to trading and lose but far more traders let their feelings influence their trades. It’s human nature.
All Forex traders will always face losses, whatever system, bot or ’secret’ they use. It’s easy to say you’re going to be disciplined about trades, too, but when it comes to crunch time there’s money on the line and no-one likes loosing money. You have to be strong mentally to succeed as a trader.
So how do you get to that point? How do you make yourself disciplined as a trader?
The answer is that you need to learn good risk management and you need to practice consistency. Don’t even think about trading with real money until you have spent a good two months using the same system consistently, without fail. It’s not so much that you need to test the system out, but that you need to prove to yourself that using the same system consistently will bring you the success you desire.
Of course I’m going to tell you that it’s this type of approach that is taught in LiveConnect, but that’s how Jarratt taught me and it worked! If you’re not convinced, check out the webinar this Saturday!
Tags: consistency, discipline, Forex, Jarratt Davis, LiveConnect, logic
Posted in Psychology | No Comments »
September 17th, 2009
Here’s a treat for you all. On Saturday, Vic Noble and Jarratt Davis, who host the LiveConnect service from Forexmentor, will be conducting a live webinar.
Special guest, and LiveConnect member, Rob Pampling will be going through some of the techniques used in the LiveConnect service and demonstrating some real results that they’ve produced. Rob is a fund manager who works with Jarratt so you are sure to get something useful out of the webinar for your own trading skills. You will also be able to ask questions!
The webinar takes place at 3pm GMT (see when this is in your city) and details are available on the LiveConnect site.
Tags: Forexmentor, Jarratt Davis, LiveConnect, Vic Noble, webinar
Posted in Announcements, LiveConnect | No Comments »
September 17th, 2009
Retail Sales
Time: 8:30am GMT
Currency: GBP
Impact: High
Source: National Statistics
Description: The change in the total value of retail sales, adjusted for inflation.
Consumer Inflation Expectations
Time: 8:30am GMT
Currency: GBP
Impact: Medium
Source: Bank of England
Description: The amount that consumers expect prices to change as a percentage.
CBI Industrial Order Expectations
Time: 10:00am GMT
Currency: GBP
Impact: Medium
Source: Confederation of British Industry
Description: A diffusion index level based on a survery of manufacturers.
CPI & Core CPI
Time: 11:00am GMT
Currency: CAD
Impact: High
Source: Statistics Canada
Description: The change in the price of goods and services as purchased by consumers.
Libor Rate
Time: 12:00pm GMT
Currency: CHF
Impact: High
Source: Swiss National Bank
Description: This is the London interest rate for the 3-month Swiss Franc deposits.
SNB Monetary Policy Assessment
Time: 12:00pm GMT
Currency: CHF
Impact: High
Source: Swiss National Bank
Description: The SNB’s decision making about interest rates and clues as to future policy.
Leading Index
Time: 12:30pm GMT
Currency: CAD
Impact: Medium
Source: Statistics Canada
Description: This is the change in the level of a composite index which is based upon 10 economic factors.
Building Permits
Time: 12:30pm GMT
Currency: USD
Impact: High
Source: Census Bureau
Description: The number of new building permits issued in the previous month, represented annually.
Unemployment Claims
Time: 12:30pm GMT
Currency: USD
Impact: High
Source: Department of Labor
Description: The number of individuals who have filed for unemployment insurance during the previous week.
Housing Starts
Time: 12:30pm GMT
Currency: USD
Impact: Medium
Source: Census Bureau
Description: The number of new house builds that have begun construction during the previous month.
Philadelphia Federal Reserve Manufacturing Index
Time: 2:00pm GMT
Currency: USD
Impact: Medium
Source: Federal Reserve Bank of Philadelphia
Description: The level of a diffusion index which is based on a survey of manufacturing companies in Philadelphia.
Tags: Bank of England, BoE, Building Permits, CAD, CBI, CBI Industrial Order Expectations, Census Bureau, CHF, Confederation of British Industry, Consumer Inflation Expectations, Core CPI, CPI, Department of Labor, Federal Reserve Bank of Philadelphia, GBP, Housing Starts, Leading Index, Libor Rate, Manufacturing Index, National Statistics, Retail sales, SNB, SNB Monetary Policy Assessment, Statistics Canada, Swiss National Bank, Unemployment Claims
Posted in Economic News | No Comments »
September 16th, 2009
Claimant Count Change
Time: 8:30am GMT
Currency: GBP
Impact: High
Source: National Statistics
Description: The change in the number of people who claimed unemployment-related benefits during the previous month.
Average Earnings Index
Time: 8:30am GMT
Currency: GBP
Impact: Medium
Source: National Statistics
Description: The change in the cost of labour to businesses and Government.
ZEW Economic Expectations
Time: 9:00am GMT
Currency: CHF
Impact: Medium
Source: ZEW
Description: A diffusion index based on a survey of institutional investors and analysts.
CPI & Core CPI
Time: 9:00am GMT
Currency: EUR
Impact: Medium
Source: Eurostat
Description: The change in the price of goods and services purchased by consumers.
Manufacturing Sales
Time: 12:30pm GMT
Currency: CAD
Impact: Medium
Source: Statistics Canada
Description: The change in the value of sales made by Canadian manufacturers.
CPI & Core CPI
Time: 12:30pm GMT
Currency: USD
Impact: High
Source: Bureau of Labor Statistics
Description: The change in the prices of goods and services purchased by American consumers.
Current Account
Time: 12:30pm GMT
Currency: USD
Impact: Medium
Source: Bureau of Economic Analysis
Description: This is the balance of imports and exports as well as income flows and unilateral transfers.
TIC Long-Term Transfers
Time: 1:00pm GMT
Currency: USD
Impact: High
Source: Department of the Treasury
Description: The difference in value between ‘imported’ and ‘exported’ foreign long-term securities.
Capacity Utilization Rate
Time: 1:15pm GMT
Currency: USD
Impact: Medium
Source: Federal Reserve
Description: The percentage of available resources that are actually being used by mines, utilities and manufacturers.
Industrial Production
Time: 1:15pm GMT
Currency: USD
Impact: Medium
Source: Federal Reserve
Description: Change in the total output, adjusted for inflation, from mines, utilities and manufacturers.
Crude Oil Inventories
Time: 2:30pm GMT
Currency: USD
Impact: Medium
Source: Energy Information Administration
Description: The change in the number of barrels of crude oil that commercial firms are holding in inventory.
Tags: Average Earnings Index, Bureau of Economic Analysis, Bureau of Labor Statistics, CAD, Capacity Utilization Rate, CHF, Claimant Count Change, Core CPI, CPI, Crude oil inventories, Current Account, Department of the Treasury, Energy Information Administration, EUR, Eurostat, Federal Reserve, GBP, Industrial Production, Manufacturing Sales, National Statistics, Statistics Canada, TIC Long-Term Transfers, USD, ZEW, ZEW Economic Expectations
Posted in Economic News | No Comments »
September 15th, 2009
Industrial Production
Time: 7:15am GMT
Currency: CHF
Impact: Medium
Source: Federal Statistical Office
Description: This is the change in the total value of inflation-adjusted output from mines, manufacturers and utilities.
CPI
Time: 8:30am GMT
Currency: GBP
Impact: High
Source: National Statistics
Description: The Consumer Price Index is the leading indicator of inflation and is used by the British Government as their primary measure.
RPI
Time: 8:30am GMT
Currency: GBP
Impact: Medium
Source: National Statistics
Description: The Retail Price Index is the change in the price of goods and services purchased by consumers and is a significant indicator of economic health.
Inflation Report Hearings
Time: 8:45am GMT
Currency: GBP
Impact: High
Source: Parliament
Description: The Bank of England Governor and members of the Monetary Policy Committee testify to the Treasury Committee on the state of the economy, including direct references to the money markets. These can last a few hours, producing sustained periods of volatility.
German ZEW Economic Sentiment
Time: 9:00am GMT
Currency: EUR
Impact: High
Source: ZEW
Description: A diffusion index based on a survey of German institutional investors and analysts.
Labor Productivity
Time: 12:30pm GMT
Currency: CAD
Impact: Medium
Source: Statistics Canada
Description: The change in the efficiency of labour when producing goods and services.
Core Retail Sales
Time: 12:30pm GMT
Currency: USD
Impact: High
Source: Census Bureau
Description: The change in the total value of retail sales excluding the automotive industry.
Retail Sales
Time: 12:30pm GMT
Currency: USD
Impact: High
Source: Census Bureau
Description: The change in the total value of retail sales.
PPI
Time: 12:30pm GMT
Currency: USD
Impact: High
Source: Department of Labour
Description: The change in price of goods and services sold by their producers. At the same time, Core PPI is released which excludes food and energy.
Empire State Manufacturing Index
Time: 12:30pm GMT
Currency: USD
Impact: Medium
Source: Federal Reserve Bank of New York
Description: A diffusion index based on a survey of manufacturing companies in New York state.
Governing Council Member Murrary Speaks
Time: 1:15pm GMT
Currency: CAD
Impact: Medium
Source: Bank of Canada
Description: Bank of Canada Deputy Governor, John Murray will deliver a speech on the health of Canada’s economy.
Federal Reserve Chairman Bernanke Speaks
Time: 2:00pm GMT
Currency: USD
Impact: High
Source: Federal Reserve
Description: The Chairman of the Federal Reserve Bank, Ben Bernanke will deliver a speech on the economy.
Business Inventories
Time: 2:00pm GMT
Currency: USD
Impact: Medium
Source: Census Bureau
Description: The change in the total value of inventory held by retailers, manufacturers and wholesalers.
Tags: Bank of Canada, Ben Bernanke, Business Inventories, CAD, Census Bureau, CHF, Core Retail Sales, CPI, Department of Labor, Empire State Manufacturing Index, EUR, Federal Reserve, Federal Reserve Bank of New York, Federal Statistical Office, GBP, German ZEW Economic Sentiment, Governor John Murray, Industrial Production, Inflation Report Hearings, Labor Productivity, National Statistics, Parliament, PPI, Retail sales, RPI, Statistics Canada, USD, ZEW
Posted in Economic News | No Comments »
September 14th, 2009
Industrial Production
Time: 9:00am GMT
Currency: EUR
Impact: Medium
Source: Eurostat
Description: This is the change in the total value of inflation-adjusted output from mines, manufacturers and utilities.
FOMC Member Lacker Speaks
Time: 4:30pm GMT
Currency: USD
Impact: Medium
Source: Federal Reserve Bank of Richmond
Description: President of the Federal Reserval Bank of Richmond, Jeffrey Lacker will give a speech which may include hints on future monetary policy and questions may be taken from the audience also.
Tags: EUR, Eurostat, Federal Reserve Bank of Richmond, FOMC, Industrial Production, Jeffrey Lacker, USD
Posted in Economic News | No Comments »
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