As most of us are watching the chaos happen in the markets, especially today, we should ask ourselves what is really going on.  How is the bailout effecting us and what does $700 billion mean anyway?  Here’s an interesting article I came across on Market Watch about what rejecting the rescue plan cost everyone today.  It’s an interesting point this guy makes, all political beliefs aside, he brings up a good point.

Have a look at the article HERE

Anyway, we are in the midst of the financial riot and yet the USD strengthens stll, what does that tell us?  My position on the beloved greenback for this week is LONG… I may eat my words come Friday but so far I’m sticking to it!

Happy trails!

For those of you watching the market today, the movement/volitility has been more than CRAZY!  The Dow has dropped over 700 points, YEHAAAA!!!  I was able to pull a few hundred pips out of the EUR/USD and GBP/JPY last night and early this morning but I think we might be going into some more uncetain movement this week.  Weekends/openings of the market have been great the last few weeks, there always seems to be enough shocking news sunday night to make the market GO!  So, what does this mean to us currency traders?  Be VERYYYYY careful this week with your entries, lets watch the news as regarding the bailout plan, it’s up for revote most likely.  So beware, don’t be scared just be cautious… we’re standing on shaky ground right now and we need to ride things out a little before making any big decisions.  I hate to say this but now is a pretty good time to be attempting to scalp the market, identify immediate levels and play off them… CAREFULLY!!  Keep your entries small and watch everything like a hawk.

Here’s the EUR/USD Trade from this morning,

Hi all, it’s Saturday and that merits celebration (provided most of us made it through the week MOSTLY unscathed!) Anyway, there’s not much to say about this week, the big dogs in the casa blanca (white house for those non-spanish speakers of you) are trying to figure out how to stop a repeat of 1929, hince the markets have NO idea which way to go.  So we have seen very little movement this week and basically ZERO trend!  However, I have been pleasantly surprised to talk to you all and find out that many have been very profitable this week… I feel like a proud parent! ;)  So keep up the good work and lets stay profitable, remember it’s ALL ABOUT PIPS, we become successful in trading ONE PIP AT A TIME!!

As for the ATM this week, we had a good run there too… the market was reacting less to news that wasn’t related to the $700 billion bailout details, but we still have profitable movements.  We say a good movement on the NZD pair and several on the USD/JPY, there is MORE to come as soon as we can get past the worst of this economic situation.  So don’t wait too long, we have a busy week of announcements coming up this week including non farm payrolls, should be exciting!!

Everyone enjoy the weekend and don’t worry too much about the market, it going to make some break outs sooner than later.  In the meantime everyone needs to keep up with financial news, Wall Street Journal, Market Watch and anything else where you can learn about the surrounding conditions.  There’s some exciting/scary things that are about to happen… lets know about them and brace for impact!

Have a great weekend remember, if you’ve had any of these faces it’s normal, it’s been a crazy week!!

Ok everyone, just a quick note about All About Pips being back up and working again.  I think we have figured out the problem and hopefully fixed it for GOOD!  Anyway, the market have been crazy and there’s so much uncertainty that it’s driving me crazy!  But there ARE good trades out there.  Like for example the EUR/USD (and the GBP/USD and USD/JPY) all have similar set ups.  See the pic attached below, the EUR/USD has been down trending for some time now and have finally turned around a bit, it’s in a corrective uptrend right now and there’s some important levels to watch.  Look at the pic, when either the support on the bottom or the small trendline on the top is broken, we’re going to have a nice movement.  Check out the pic…

Ps click on the pic to enlarge

Well the weekend is over and it’s back to work time!

So, quick update on what’s going on in the world of trading.  The dollar is dropping like mad on continued bad economic news, th weekend had lots of secrets that weren’t great for the USD and now everything is coming out.  The US markets haven’t done great today so naturally the Dollar takes a dive!  I’m looking at long positions on EUR/USD, GBP/USD most likely this week.

Also, we had our first run with ATM this morning, it was exciting!  We were watching the CAD retail sales, the number came out basically as expected so it was a no trade.  But i did put a trade on a few minutes after, took a quick 26 pips.

Well folks, it’s the weekend and most of us survived the week and even some of us came out profitable… miracles still do happen.  The market volitility has been astounding to say the least, but it keeps it exciting.  This week is a lesson on how much everyone needs to keep up with the financial news, the economy is going thru craziness and we need to know about it.  Also, it’s a reinforcement on the importance of putting together a trade plan!

Remember, your trade plan should include a few key points;

1. Checklist of market conditions, indicators positions, trends, economic news, etc
2. Weekly goal of how many pips you want to achieve in the market
3. Maximum number of trades allowed to take during the week, (10 or less is good, 15 is a MAX)
4. Money Management!!!!!! This means using stop losses on EVERY TRADE, calculating how much of your account is at risk should you get stopped out (remember 2% is ideal).  Read more…

Read and enjoy… even more importantly, MAKE A TRADE PLAN! Enjoy the weekend, keep up with the news and be ready for another great/fun/exciting/crazy week of trading that is coming right on up.

PS, I’m glad I’m not the only one excited about the weekend!!

Ok so anyone watching ANY kind of chart has seen that market conditions have been nothing short of ABSOLUTE CHAOS!  Lets talk about what’s happing in the markets across the board and see how this will affect the FX market.

• Wednesday Gold shoots through the roof (usually means go SHORT on USD!)
• A week ago the GOV agrees to pump $100 billion into Freddie Mac and Fannie Mae to keep them out of the poor house.
• Last weekend Lehman Bros decides they can’t take it anymore and go into bankruptcy just before deciding to sell to Barclays Bank (big European bank that’s not hurting as bad as most of our investment banks).
• If that’s not enough, Merrill Lynch & Co take the plunge and get bought out by Bank Of America for a mere $50 billion… BIG DEAL BY THE WAY!
• And Finally Uncle Sam cuts AIG an $85 billion dollar check (for an 80% stake), lets hope Sammy is better at running a zillion dollar company then then the previous guys!

Definitely read more about this here, Market Watch Story

Next we have several of the major Central Banks pumping BIG cash into the markets, somewhere around $180 billion (can you imagine seeing that check?).  The US is one of the bigger contributors but Canada, Japan and Switzerland are among the other top contributors.  So major investment banks are going under, the Gov is paying out the wazoo to keep the ENTIRE economy from going under and so on and so forth!

In case anyone is missing the Urgency here, it’s MAJOR!!  What will happen/what should be done?  Who knows!  This is one of those situations that everyone is taking a day at a time, no one is absolutely sure what to do.  But here’s what I see possibly happening, (no offense to any international clients) the world in times of crisis tends to look towards to US for help, maybe because we’re crazy enough to help out regardless of the fact that we’re in more trouble then those we’re helping!

Summary, we’re in trouble but there are some great minds at work here.  Things are going to be ROUGH and VERY uncertain for the next little while but the markets thrive on this.  There will be some major swings in the market but remember it’s not the end, it’s just a little rough patch (by little i mean HUGE) but we’ll get passed it and back into the swing of things.  The markets will settle down and FX trading will continue.  Remember, during this time of uncertainty be careful trading and watch for choppy conditions, don’t be afraid to stay out of the markets if you don’t feel confident about where things are going.

Look at it this way, this is a necessary correction that is happening that all markets need to experience from time to time.  Things have been good for a LONG time and prices have gone up on everything, so we need to keep everything in balance, it’s severe how it’s all going but it’s going… that’s the important thing!

Extra summary, KEEP trading but be extra careful! Staying out of the market for the rest of the week is advisable.  More tomorrow on what patterns are forming on the GBP/USD and EUR/USD along with the USD/JPY.  Wow, lots to talk about!

Hi everyone and WELCOME to All About Pips, your one stop forex trading site!  Many of you are already familiar with the format of this site so this will be quick and easy.  But I’ve put together a short video so you can have a walk thru of the site and how it’s set up.  The video will describe the key features of this site.  Let me know what you all think, comments and feedback are always welcome so let ‘em fly!  Anyway, good luck and enjoy the site!!

What information we collect about you:

We collect the following information during the normal course of business:

• Information gathered from applications, forms and other information that you provide to us.
• Information about your purchases and customer experience with FX education.
• Demographic and other general information we obtain that allows us to better serve you.

How we use your information:

We use your personal information in the following ways:

• We use your personal information in order to to properly serve you during the normal course of business.
• We may also use personal information for auditing, research and analysis to operate and improve our technologies and services.
• We may share aggregated non-personal information with third parties outside of FX Instructors.
• We may also use personal information to enable affiliates to properly serve you and receive credit for referral.
• We may share information with third parties in limited circumstances, including when complying with legal process, preventing fraud or imminent harm, and ensuring the security of our network and services.

How We Protect Personal Information: We limit access to your personal information to those employees who need to know in order to conduct our business, service your account, and help you accomplish your financial objectives, such as providing you with a broad range of products and services. Our employees are required to maintain and protect the confidentiality of your personal information and must follow established procedures to do so. We maintain physical, electronic, and procedural safeguards to protect your personal information. We do not rent or sell your name or personal information to anyone.

Sharing Information with Our Affiliates: We may share personal information described above with our affiliates for business purposes, such as servicing customer accounts and informing customers about new products and services, and as permitted by applicable law. The information we share with affiliates for marketing purposes may include the information described above, such as name, address and personal information, but will not include other credit information.

Background Affiliation Check One of the first things any investor should do before trading in FX products is conduct a background check on the firms and individuals offering these products. It is also a very good idea to routinely perform a background check on the firms and individuals offering these products.

Hi everyone, it’s been a few days since my last post on here and honestly it’s been because my new website has been “almost done” for several days now so I wanted to have my next post be on there, but alas another one for the blogger it is. Anyway, I spoke with many of you this week during our appointments about getting together a trade plan and the basics of what to include in that plan. If my new website isn’t done by the time I get up for a news trade at 5am Monday morning then I’ll just post those trade plan details on here.

A few words about the new site, it will be in blog form just like this site and I will be posting daily just like i have been doing on this site (except for the last week), you all will be able to leave comments on each article just like on here. As well I have added a bloglog on there so everyone can join, all you do is sign up for a username and password and every time you post a comment it shows who it was and keeps track of everyone. I want to create a trading community for everyone, a SUPER IMPORTANT part of trading and even the difference of becoming successful or falling through the trading cracks is having a network of people that you can trade with. I have been hard at work over here with putting together a few forex products and finishing a few websites and I will release things as they get finished, but I want to create a MASSIVE forex community on an INDIVIDUAL level. This will be accomplished through several mediums, including the blog, trading software, a live trading room where we can all get on and chat about what trades we’re taking and where I will suggest trades that look like winners as well as many more avenues. These things are all in the works but as of now I want to get some good activity on the blog and I absolutely CANNOT do that without the help of all my users.

I want everyone to share their ideas, talk about what things are working well for you, where you’re having successes and where you’re having challenges and what you are doing to overcome those challenges. This is your turn to shine, help others achieve success by learning from what you have done and seen in your time trading. I promise that EVERYONE will become better traders as they teach what they know… I PROMISE!! It’s really amazing, every time I have an appointment with one of you or whenever I talk about a principle in trading I am the one that learns something new. The same will happen with each and everyone of you as you do the same thing. Anyone that is struggling with trading, start teaching something about trading to someone you know, share ideas on my blog about an aspect or principle of trading. Trust me, it will help you in ways you can only imagine!

So the new site will include areas for guest articles from clients and people that are already in my personal trading network,

• they will talk about things that are working for them and share their success stories.

• I’ll have a section about auto trading programs where users can submit programs that are working well for them as well as rate ones they have been using ETC.

• There will be a page about the ATM with videos on how to set it up on various different accounts.

• I will be posting, in video form, my weekly picks and an overall review of what I will be looking for in the market

There will be MUCH MUCH more available on the site, so needless to say that I’m more than excited to get it up and running!! It will be a great training tool for ALL who really participate in all it has to offer as well as it will get everyone included in a trading network which is MORE THAN IMPORTANT!! So keep your eyes out on in and tell your friends about it, the more participation we have, the more success we’ll have!!

Keep an eye out for things and I will keep everyone posted on the developments of things. Until then, watch the market and lets all make some money!

Ciao for now,

Jared J.