Simple Forex System Trading

All it takes is some crook in a company to make unauthorized trades and bring the company down.

Oct. 21 (Bloomberg) — Citic Pacific Ltd.tumbled the most in 18 years in Hong Kong trading after predicting HK$15.5 billion ($2 billion) in losses from unauthorized currency bets…  The losses are based on an exchange rate of 70 cents to the Australian dollar, $1.35 to the euro and 6.84 yuan to the dollar, it said. The outstanding Australian contracts have a weighted average strike price of 87 U.S. cents to the Australian dollar, it said.

On bloomberg.com

For those who like to look at the big picture and trade currencies in a larger time frame, this is a very good read on PFX Global.  The articles talk about whether fundamental trading systems can be profitable, how to manage risks, how to back-test, and lots more information.

Check out Forex Blog.org.  I just found this article which I think is the most comprehensive list of resources for all Forex traders.  Whether you are so new and you don’t even know what Forex is all about, or you are a seasoned pro and are just looking for a new trading idea, the list may just have what you are looking for.  Some of my favorites on the list are:

Baby pips:  You simply have to visit this website.  It has everything.  It is like a school for heaven’s sake.  And if you like to trade British Pound, you definitely have to read the Cowabunga System.

Money Tec:  Another one you simply must visit.  This site is a forum.  Whether you need Forex 101 or are looking for a trading system, you will find something.  Have patience.  I spent lots of time there digging into who knows how many posts, but I certainly learned a lot.

The U.S. mortgage rate as of February 27, 2008With Bernanke’s comments on the current condition of the US economy and hints of another rate cut, the bond market does not seem to agree with the Fed.  Just about a month ago, the 10-year note was hitting 3.5% which brought the 30-year mortgage rate down to 5.4%.  After the Fed’s aggressive rate cut by 125 points, the bond market price has been falling.  The 10-year note is now pushing towards 4%, and the 30-year mortgage rate is standing at 6.10%.

This is a question everyone’s asking.  We are seeing more layoffs.  Companies are cutting back IT spending and travel budgets.  Are we really facing a full-scale recession?

Saxo Bank’s Head of Strategy, David Karsbøl, believes recession is already upon us.  He used 13 key indicators to gauge the economy.  Here’s why.