How to trade on the waves Elliott?

How to trade on the waves Elliott?


Ralph Nelson Elliott (1871 - 1948)


"... Even though many things and would seem to us extremely extraordinary and ridiculous, they nonetheless have been introduced and adopted by other great nations."

Rene Descartes, Tractate "Considerations on the method, in 1637.

In its work, "Elliott Wave Principle key to market behavior" Robert Prechter sees an interesting detail: "Elliott has never explained why the shape of the market are five waves in the development and three waves in the braking. He just presented it as an existing fact" .*

Foreign ease wave postulates attracts many beginners to learn the behavior of the market, but they were primarily studying what lies on the surface: the form of waves and their characteristics. Or, more generally, are beginning to examine the first graphic shapes, then the form of waves, and then go to study fractals Bill Williams and Professor. Mandelbrotta. And lose sight of the fact that the wave principle is the use of basic concepts of technical analysis (the momentum and a correction) that may characterize the graphs psychological condition of market participants.

Markets, which can be used for the analysis of the wave theory, can be quite different, but should have a fairly large volume of transactions, a large number of participants and a long history. Forex market from this point of view is, if I may say so, the ideal market.

The complexity of the use of wave postulates is in their flexibility and subjectivity in evaluation of extreme situations on the market, and the "unpredictable" nature of the market. The vast majority of projections based on the graphic forms of identification are not wealthy. For practical trading is not acceptable.

Another point: it is impossible to master this method immediately. In the wave theory of RN Elliott, there are two aspects that do not fit into the classical, which are beginning to explore the principles of the wave, a "step-up 5 - 3 steps down." It is "bad" fifth wave and "wrong" correction (in the second or fourth wave). As shown, the elimination of trade in the fifth wave is justified **. And the use of trade situation, "incorrect" correction is certainly necessary and profitable.

Subjectivism and a lot of variability in the interpretation of the wave of market structures are negative factor for the single investment decision, it is not surprising. The external simplicity and beauty is proportional to wave signs, represented in the graphs, after everything has already happened, that is "post factum", is only the tip of the iceberg, only one of many variations in the interpretation of image patterns. Nevertheless, it should be noted that, as the ability to swim or the ability to ride a bicycle, once osvoennoe the ability to read the market situation in the schedules of ekstremumam (without intermediaries in the form of technical indicators!) Remains for life.

So how about, how to start, how to approach the technical understanding of the market? Or, the trader must leave the interpretation of the market "white noise" to share the financial and media professionals?

You can practice "look" at the market, using "Elwave", with a highlight "of the time" to "the tree of waves (Wave Tree)". Computer programs rely almost everything possible wave signs and possible targets for each option. But ...
Choosing one of many options as a worker, then there is trade, investment decision is to share the user program, which is an investor. We can say only one thing. The choice between different options is desirable to do the wave signs in favor of the option, in which there are harmonious proportional relationship between the pulses and correction at various levels (timeframe) time together. And it is quite difficult, because it is necessary to take into account the entire range of market trends.

Not recommended for beginners to learn the principles of the wave, using their own analytical wave solutions for making investment decisions.

We need some time to:
A) Vosprinyat algorithms wave analysis.
B) No special effort to see on the graphs the difference between the pulses and correct.
B) do so at different levels (timeframe) time.
D) and able to freely use the wave labeling to compare different interpretations of the same schedule and do so at different levels of time.
D) deal on the emerging new extremes schedules at the appropriate levels of time.

Each new extreme supplements and changes the picture on the schedule for the entire previous period and the amount of options, which analysts at Forekse wave of real-time "digest" for the intuitive, subconscious level, sometimes it seems incredible.

You can use a purely technical approach, and through mathematical formulas (indicators) to monitor the wave patterns. Of these formulas of mechanical trading system (MTS), and thus close the question of subektivizme, many variantnosti and responsibility for making investment decisions. Psychologically it is a justifiable approach. But ...

Technical tools for research in this situation are well represented in a computer program of Thomas Joseph "Advanced Gann-Elliott-Trade" *. The program is implemented attempt to duplicate the technical indicators of the development of wave patterns, and in my opinion, as far as possible in principle "to believe algebra harmony", it was done very well in terms of technical analysis.

From the perspective of an investor, this program is a set of technical tools to address the issue: whether to hold the position further in the development of the situation and the trend is over and the market should be close or even deploy. In other words, in my view, the issue: whether the "fifth wave", giving a new extremes in the development of current trends?.

However, whether or not to spend time on the study of any mechanical, correct, "removing" a problem many variantnosti, methods of wave analysis? In my opinion, this impasse, in this case, "along with the water spills child. The main tool of analysis is that your way of thinking and that he should be trained for many variantnosti wave interpretations.

And if you did use the technical indicators for the overlapping of wave oscillations? For many traders, this approach seems to solve the problem. The technical indicator is the mathematical formula for modifying the visual presentation of exchange rate fluctuations on the charts, that is, in essence it should be for exchange rate fluctuations, and repeats them in a modified form. This makes it possible to build, analyze and make use of new dependencies and patterns relating to technical, computerized analysis using different software. And to create mechanical trading system (MTS), allowing the trader unambiguous trading signals. It is not the wave analysis.

This approach is lost objectivity of the analysis of the market and the willingness of the trader to the alternative development of the situation. In doing so, to adjust the MTS still needs to examine the levels of time and constantly optimize the parameters of technical indicators in the market at the level of "major" waves. Methods of calculating targets also need to examine the use of wave terminology. The desire to simplify the wave analysis (through duplication of wave oscillations of technical indicators) greatly complicates the analytical process and resulting kruzhnoy road to wave analysis again.

I think you need to remember the principle of "simple to the complex."
Quote: "Elliott has never explained why the shape of the market are five waves in the development and three waves in the braking. He just presented it as an existing fact." Indeed, this is simply a fact - in that way and has a momentum of correction. In my opinion, you should use a simple approach to assess the situation on the market (or pulse, or remedial), a simple universal trading algorithm simple Fibonacci ratios. And a simple hierarchy (the Russian dolls) image structures, telling about the behavior of the market at different levels (timeframe) time.

Recommended for beginners to learn the market: at the initial stage, to use someone else's analysis or analytical services, comparing their "opinion" on the market between them and constantly monitor "their" level of time **.

And it is necessary that the wave analysis, the analysis of market opportunities, but not its liabilities. Therefore, the criterion of objective analysis (in the selection of analytical services) can serve as analysts use alternative wave signs on the same schedule.

In my opinion, only the market can provide answers to any questions and need to learn their language. History is made up of markets for their extreme values, which are perceived to be remembered and accounted for all the parties, be it journalists, bankers, private investors or the Head of State. The market tells its stories in the language of the dramatic surge ups and downs or catastrophic correction of long-term consolidation.

The momentum and the correction is "ABC", which takes the market to communicate with his players. The momentum correction and the zigzag is the primary language of the elements of the market. A trend, this is the first word, which hears the market participant of the market is just alternating unidirectional impulses and corrections.

_____________


* Elliott Wave Principle Key to Market Behavior ". Robert Rougelot Prechter, Jr and Alfred John Frost. Published by New Classics Library. 20 Anniversary Edition: May 1998.


** How to sell on the waves of Elliott or time to make money. Igor Malinovsky. Activ E-Book. 2004.

Material provided by: http://www.analystime.ne

Learning to write by experts for MetaTrade. Lesson 4

Learning to write by experts for MetaTrade. Lesson 4.


Hello, dear readers. Today we get acquainted with the operators of cycles. And write a new expert.



3.1. General information about the cycles

The cycle - it is the operator who repeats the fragment program, a prisoner in the body of the cycle until the work is not a condition set by the user. Cycles are often used for working with arrays, arrays vnashem case of quotations or the value of indicators.

(c [0] + c [1] + c [2]) / 3 - is a simple average of the three prices, or simply moving average with a period averaging 3. But things are much harder, if you want to take a simple average of the period 30, it is much easier to use design types:

for i = 0 to 30
(sr = sr + c [i];);
sr = sr/30;

Also, the cycles will allow you to select the desired item from a large array of data. For example, often need to find the maximum or minimum High Low, over the last few bars, to be placed stoplossa.

Find the minimum Low, to install stoplossa to Long. Search will be from the last 10 bars (formed).

MinL = L [1];
For i = 1 to 10
(If L [i] MaxH then MaxH = H [i];);

Now, while it is necessary to address in detail the cycles of vMQLII.



3.2. For Cycle

Cycle For ensures compliance with regulations, prisoners in the body of a user defined cycle, the number of times.

for i = 1 to 10 begin
/ / Body cycle
end;

I - this is a variable, which will increase by one, at each iteration cycle.

In this example, the initial value of the variable equal to 1, the final 10, that is, the cycle will be 10 times the body to perform the cycle. Initial and final value can be any, but of course there must be more. If you want to be a cycle otschityval variable in the other side (to reduce), instead of the keyword you want to use To Downto.

for i = 10 downto 1 begin
/ / Body cycle
end;

This cycle is also executed 10 times, only variable will be reduced from 10 to 1.


3.3. While Cycle

This cycle is different from the For the fact that the number of iterations is not known in advance. The body of the cycle is done until the condition cycle.

while a> b begin
/ / body cycle
end;

a> b - this is the cycle.



3.4. Instruction Break

Instruction Break prematurely terminates execution cycle For or While. This is true if the cycle is used to search for any item, and it was found. This instruction can only be used in the body of the cycle. If several cycles of investment in each other, it was suspended next cycle (a cycle in which the body of instruction attached directly).

for i = 1 to 100
(If l [i]> l [i +1] and l [i +1] 3.5. Instructions Continue

Instructions Continue prematurely terminates the current iteration and starts doing the cycle again. This instruction applies, for example, is already clear that at this stage of the desired item and no need to go further, not executing some instructions in the body of the cycle.



3.6. Expert

Today we will write an expert for the game at turning candlelight , in the most severe forms, where the opening and closing prices are equal (no body). The algorithm is not complicated. If the bovine movement we have a candle with a long upper shadow and short lower, we will wait the next bear candles and sell its closure. If, after Bear movement we have candle with a long lower shadow and a short top, then we will wait and buy a bull candles.

Stoplossy rasstavlyaem for long tenyam plus the specified number of points.

/ * [[
Name: = Expert3
Author: = Fxtest.ru
Link: = forextimes.ru
Lots: = 1.00
Stop Loss: = 20
Take Profit: = 40
Trailing Stop: = 0
]] * /

defines: tenmax1 (10), tenmin1 (5), telodo1 (5); var: tenmax (0), tenmin (0), telodo (0);

/ / domnozhaem all the variables are not the price of the item
tenmax = tenmax1 * point; / / long shadow
tenmin = tenmin1 * point; / / short shadow
telodo = telodo1 * point; / / body of the bar before turning candles
if TotalTrades = 1 then exit; / / exit if there is an open position

if ((o [4]-c [4])> telodo and (o [3]-c [3])> telodo)) or (o [3]-c [3])> 2 * telodo then (

/ / 2, or an average of 2 times the requirement for the purchase of the existence of nizhodyaschego trend

/ / 2 are not short of candles, or last longer bear

if o [2] = c [2] and (h [2]-o [2]) tenmax ando [1]> c [1] then

(SetOrder (op_buy, 1, ask, 3, l [2]-StopLoss * point, bid + takeprofit * point, green););
);

if ((c [4]-o [4])> telodo and (c [3]-o [3])> telodo) or ((c [3]-o [3])> telodo * 3) then (
/ / condition for the sale of the existence of 2 vozhodyaschego trend is not short of candles, or last long bull

if o [2] = c [2] and (o [2]-l [2]) tenmax ando [1]

Halhalyan Arthur
fxtest.ru artur@fxtest.ru

Agio

Agio


In September, opened the project "Exchange igra.ru", owned by the Swedish company's Global Stock Operations AB. The project is an interactive game on the stock exchange, in which the player, the trader the opportunity to speculate in the securities of well-known brands. The system www.stockgamez.ru traders can trade shares of Russia (MICEX), and U.S. stock markets (NYSE and NASDAQ).

The aim of the founders of the project - to enable everyone to learn to free online trading. The system allows Novice trader to obtain the necessary theoretical knowledge, but also try to practice. Model Exchange games on the site, as close as possible to the real conditions of the trading on the exchange. The players, if desired, may be take part in games with cash rates or play for free. Free games allow beginners traders to take the first steps in the stock market game, not risking their capital. Playing with the rates of more than azartna, as a result of it Traders get a real profit.

«Our project was created for those who want to learn online trading» - says project manager Alexander Pankratov, - «For some of our stock market games - no more than a hobby, an intellectual fascination. Other players come from a more serious purpose - to learn how to play the market so as to subsequently engage in this business and get a permanent income. In order to arrive at the present exchange requires more resources and sufficient experience in trading. «Exchange igra.ru »gives novice traders an opportunity to start virtually from scratch, learn to analyze the situation on the market, develop and validate their strategies into practice, to earn the first profit ».

The project will be of interest to all, for whom the game - this is a unique sport, gymnastics for the brain or simply azartnoe habit.
Stock game will allow players to spend time with interest, to earn profits, as well as learn about the activities of trader.

Author:
Alexander Pankratov

Currency non-stop

Currency non-stop


Speculations. Every fourth milliardnoe state of the world's earned in the financial markets. Perhaps the most risky of them, and potentially the most lucrative is the foreign exchange market forex.

Anton Kuzin (www.finansmag.ru)

Maximum speculative profits have investments in asset price fluctuations that occur most often and have the maximum amplitude. In other words, the more "good" and expensive desheveet per unit of time, the more it is suitable for speculators. Today, Russia's individual investor or speculator has access to virtually any financial market, including international. Perhaps the most volatilnym of the most accessible is the futures market, or flash market. Major turnover on fixed-term contracts are currently on the market FORTS, organized stock exchanges RTS and St. Petersburg. " Fluctuations in the prices of certain securities in the most active days may exceed 10%. However, the maximum possible profit of the investor is not restricted.

In trading on the matter of the market can make a transaction, for example, for 100 rubles, making only 15-20% of this amount. That is, if run in turnover of 20 thousand rubles, and contracts to buy 100 thousand, every percentage of increase in their value will increase in 5% of your capital. Accordingly, a 10-percent increase in quotes, you can increase the capital in half.

One per cent - and zero on the account. Market forex - a virtual marketplace where 24-hour operation carried out on the buying and selling currencies. This is the most voluminous and liquid market on the planet. Today, it has access to any Russian, which has a small capital. Unlike the market FORTS currency fluctuations quite small. For example, the maximum daily variation of quotations pair euro / dollar (EUR / USD) this year was recorded on 17 March and amounted to only 2.38%. For the foreign exchange market is a lot. The average daily range for the EUR / USD in 2003 was about 0.9%. This umudritsya catch the "bottom" and "comb" almost unreal. You can take a good result "saddle" half of this wave, that is an average of 0,45% per day. Profit was not serious. However, the forex can be increased, for example, 100 times, using the so-called leverage - borrowed funds from bank customers or broker. In this case, each movement of the market in your side at 1% will double your capital (excluding costs). And some companies may offer a more broad shoulders. " However, the movement of the market against your position (up, if you are playing down the course, or down, if the game is on the increase) at 1% may lead to a complete loss of capital. Therefore, forex, and is the most risky financial market. And yet, potentially very profitable. For example, the pair EUR / USD this year for one day with shoulder-1: 100 theoretically could earn 238% (amateur sensations can translate these figures into annual). But this is only theory. In practice, mindful of the cost of overhead costs, and that the currency market does not always support your idea of an impending rise or fall in a given currency.

Pick a couple. "Tickets" in the community currency speculators can now be purchased at brosovym prices. Some companies agree to serve customers with only a hundred dollars. However, with the amount you can realistically expect to gain only confident in his absolute luck. The most acceptable minimum initial deposit is today considered to be $ 2000, a minimum amount of transactions - 100 thousand units of the base currency. Such conditions make it possible risk in the transaction, only half the amount paid.

As an object of speculation are currency pairs. The most popular are the EUR / USD (euro / dollar), JPY / USD (yen / dollar), GBP / USD (British pound / dollar). At the opening of the so-called long positions on the euro against the dollar, you expect that the rate of the single European currency against the U.S. will grow. In the opposite case, your position will be called short. Suppose you opened a long position in EUR / USD at a price of 1.1000. During the day, very good news came from Europe (or very negative from the U.S.) and the euro rose to 1.1234. Its growth was 2.13%. However, if you invested $ 2000 and made a deal for 100 thousand euros, your daily profit will be 117% - again, without the overhead. The costs for trade in exchange for the forex market today, most companies are expressed in the so-called spreads. Spread - the difference between buying and selling rate of one currency against another, set your broker or bank. In other words, the commission your broker. If you care for your transactions, it simply reduces the price a little bit of buying and selling currencies overcharge. These cost increases are less active than the currency pair traded in the market, that is less than it is liquidity. Spredbrokera on EUR / USD could make with the 3-5 "pips" (the fourth decimal place in the listing, such as 0.03 cents on every dollar) and the GBP / CHF (British pound / Swiss franc) - 10 pips. "

The market for the curious. To achieve success in currency trading is far more complex than completely losing the invested capital. Consolation is that the deposited amount is not more to lose. Therefore, access to forex with money from the sale of a single apartment, car or cottages - inheritance extreme. To get started is to read the literature on the basic elements of trade. Many of the books on this subject written by a "national" language. In addition, BRD-kery now providing services for learning to play the currency market. The two-week courses, including theory and practical exercises, a student at an average cost of about $ 100. After receiving initial knowledge can be trained in the game mode, closest to the "fighting", not using real money. Do not interfere with a clear conscience and play the first real capital, the most valuable experience of the commission and analysis of their own oshibok.Etu amount can be considered as an additional fee for the school. But in the future is already with the new forces and the money more carefully analyze the macroeconomic news from around the world, follow the diagrams and technical indicators, trends in interest rates of central banks, unemployment and inflation, the major transnational mergers and acquisitions transactions, etc. But at the same time Always remember that the currency - not the best asset for investment. And if you're not ready to lose the entire investment, it is better to search a suitable financial instruments.

Play or earn?

Play or earn?


Today, many companies offer services to private individuals cvoi as brokers in the foreign exchange and stock markets. The first question that comes to investors - which make the currency market or the stock, and no less tremulous question of choosing a broker. These and other issues with the vice-president of financial services company "Forex Club" (www.fxclub.org) and vice-rector of the Academy of stock trading Vyacheslav Taran.

What are the roots of the popularity of exchange of instruments of one over the other?
Coglasites, trading on the stock exchange in the first place is associated with securities?

Until now, there are a number of myths and beliefs, which do not allow many people to take a step in the direction of the market "Forex". It is obvious that this is the consequences of past closed exchange transactions from the time when these were only the banks.
Trading on the FOREX market to the average person looks like a kind of mystery, accessible only to professionals with vast sums of money, expertise and special education. However, for most people in the world of buying and selling, for example, shares of corporations that have long been present no problem. Little GM, IBM, Coca Cola or Microsoft can afford to buy a student and a housewife.
But if you look at market rates from another angle - the banknotes, it shares the same states. A gosudarstvo - are the same corporations, large or small, strong or weak. The interior of the device is very similar to the administrative structure of large private companies. Even the titles and functions often coincide. The President and President of the company, the Ministry of Finance and the Finance Department, Ministry of Trade and Commercial Department, police and internal security service, etc.
If the economy are good, and manages the skillful leader - its currency just as shares of private corporations is growing. If the economy is poorly both at home and in the company, this leads to a loss of value of the currency or stock.


There is a widespread view that the market "Forex" very risky compared to stock?

There are many similarities between the stocks of large corporations and the currencies of countries. But there are some differences.
Daily trading volume on the forex market is about 1 trillion U.S. dollars, in 6-8 times the volume of trade on the stock market around the world. It should be obvious conclusion - the market rates simple investor more immune to the action of the major players, with insider information, because at a volume market with a huge number of participants, a very large speculator difficult to play in their game. "
Not a single case in the history of the foreign exchange market when the money would be developed obestsenivalis to absolute zero.
Bankruptcy is the largest corporations in the modern history of everyday business, is to remember the most striking examples of modern times - the company WORLDCOM and ENRON. Then the ordinary equity holders do not receive a penny for their cheap paper in one day.
After the events of 11 September in New York, the vast majority of the shares have not recovered from the losses, which are now the majority of investors make up 10-35% of the capital. On the same currency, this is not possible - all currencies can not be cheaper once or appreciate because They are listed on each other. Obviously, if desheveet USD, EUR expensive and vice versa. Ie always have a choice of currency, which is currently growing.
It's very interesting to see what happened to shares of companies Microsoft Dzhenera Motors, Coca-Cola and AyBiEm (unquestionable "blue chips" American stock market), and with the same "blue chips" currency market - the dollar / franc, the dollar / yen and pound / dollar and euro / dollar.
Consider the year 1998 - the year preceding the introduction of the euro, in this sense, the year is nervous for the currency markets. This year, shares of Coca-Cola first went up by 33%, then fell by 66%, then again went up by 25%.
Shares of General Motors went up by 27%, then fell by 62%, then again went up by 55%. Shares AyBiEm steadily grown throughout the year and grew by 81%. Shares of Microsoft first went up by 84%, then fell by 37%, then went up by 76%.
At the same time, Swiss franc oslabel at 5%, then strengthened by 18%, then again oslabel at 6%. The Japanese yen has weakened by 13%, then matured at 30%. Pound was stable throughout the year, magnitude between the maximum and minimum of the year amounted to only 7%, and by the end of the year the price was different from the price of the beginning of the year Sunday at his 0,6% (!).
Currencies show much greater stability.
Even the celebrated in the history of Forex market drop pounds and strengthen the yen against the backdrop of the shares are fairly light - 39% weakening of the pound in five months in 1992-93 (by the legendary George Soros speculation), and 50% of the strengthening of the yen over five years (1990-95 biennium ).
Year 1998 was another year of relatively stable movement of the U.S. stock market. Began in the fall and subsequent panicheskie ups expectations made the situation even less predictable. In doing so, you need to keep in mind that "leverage" in the stock market is no more than 1 to 4, on the currency market as "shoulder" may vary at will the investor relations from 1 to 1 to 1 to 100. Prone to risk traders can make the price change interest rates in hundreds of percent changes in the deposit, so the forex market as the stock market can meet and desperate speculators and investors cautious.
Yes, in the Forex market the interests huge number of participants. This leads to unpredictable changes in exchange rates in the short term. But here you need to remember that the risk of investment in a specific financial asset is determined not by the difficulty of predicting changes in its value, and so the notion of volatility. It may seem incredible, but on the Forex market rate second only to the market of government bonds in developed countries. In comparison, the volatility of the shares of Russian companies is between 30% to 50%, while the world's major currencies - only about 11%. Courses leading currencies are rarely changed in one day more than 1%.


Well, what with choosing a broker? So, whom to choose? Russian companies or foreign?

Of course, at first glance a foreign company is preferable. And why not? The main argument of many traders - the money will be tselee, and away from our tax. The logic of those words are. Major, what it involves - this is how to distinguish genuine, solid foreign companies from offshore pomoyki established as our fellow citizens.
It is no secret that now anyone can buy American, British, Cypriot, or other similar companies are not more than $ 2.000-5.000, this amount includes the opening of accounts in the normal west bank. Then rent a computer program for trade, a modest (or not so small) office, hired several people staff, and business is ready to work. It is clear that the financial business, these organizations will have no relations.


And how to distinguish a forgery from the original?

Foreign organizations can be divided into two groups - banks and financial companies. Banks have a banking license state, while confirming its existence, is in many public sites on the Internet, in particular at the Central Bank's country-specific. Therefore, if you choose a broker from the bank to check for licenses.
The true financial companies under the supervision of special organs. For example, American companies are controlled by NFA (www.nfa.futures.org), controlled by the UK FSA (www.fsa.gov.uk), Malaysia - LOFSA (www.lofsa.gov.my). If the company complies with the requirements of controlling the organization, it is assigned the appropriate number (ID). Does your potential partner ID, can and should be verified on the official websites of these bodies. Consider the existence of a registration number NFA or FSA test of reliability. By the way, please note that the regulation of the FOREX market in the UK is much stricter than in the United States. In this respect, British companies are preferable to others - the client is protected in an order of magnitude worse than anywhere else. The absence of such registration in the NFA or FSA means that you are faced with an organization that only masquerades under foreign.

Finally the theme of psevdoinostrantsami, I would like to emphasize the main point. There are no problems that the financial business in Russia is forced to resort to all kinds of offshore schemes. Around the world, their legal purpose - minimizing taxes, all the major global brands are subsidiaries anywhere in the Virgin Islands, Panama, Uruguay, and so on. As a living example of the world famous English bank Barclays (www.barclays.co.uk) and its special unit for wealthy clients, registered in the area of tax in the Isle of Man (www.barclaysprivatebanking.co.uk). Or, here at least another major U.S. bank CITIBANK (www.citibank.com) has a "daughter" CITIBANK IPB (www.citibank.com/ipb/europe/global/centres/1.htm) at about strove Jersey. The list goes on, moving in the telephone directory alphabetically otodnogo big name to another. In all this, there is absolutely nothing wrong and reprehensible. If the company openly claims that such a foreign firm is a subsidiary unit under full Russian control, the honor and praise for her candor and openness! In such a situation, the Client has full information to assess their risks, advantages and disadvantages encountered in the process of cooperation with such a partner. There are already in the first place stands clear and tangible reputation of the parent company in the Russian Federation, and any person can easily determine whether imozhet whether he wants to trust their money this organization.


And what about Russian companies?

Legal authority to conduct operations on purchase and sale of foreign currency in our country, only those banks which are licensed currency Central Bank of Russian Federation. The second option is Bookmaker license from GOSKOMSPORTA. Then, the company provides services that are referred to in the West as the "Financial Spread Bettingservice". Many well-known companies, such as SMS (http://www.deal4free.com/spreadbet/benefits_details02.jsp) and IF Markets (http://www.finspreads.com/spread.asp) using this scheme. In any case, it is regulated at the state level, and therefore has legal force.


It is dangerous to "play" on Forekse? What is the probability of losing an attachment?

Forex - it is just normal business, such as, for example, the contents of the restaurant, salon or fitness center. There are interesting statistics of the World Bank refers to the success of small and medium-sized businesses. According to the statistics, not all people can be successful. In the long run, the percentage of successful people become close to the percentage of success in the usual business.

Novikov MS FOREX MAGAZINE

B.CH. Forbes

People-legends. B.CH. Forbes (1880-1954)

The future founder of the publishing empire was one of 10 children tailor in Scotland. To help support the family, B. C. Forbes (BC Forbes) began working at the age of 14, when poorly accepted by 7-year apprenticeship naborschikom in the newspaper for 75 cents a week (he thought it hired writer - by analogy with the school by "essay" (In English pun: compositor - compositor, composition - an essay.)). "I soon found out - he remembered - that I agreed to do, meant to stand in front of boxes with text, day after day, month after month for seven years, by selecting only one and the same metal letters ... I felt a sentence of seven years' imprisonment. " It used to give up, Forbes agreed that "will make them want to make me a reporter." At night he studied shorthand - a mandatory requirement for reporters - and, indeed, was the work of journalists.

It took a woman to break his spirit. Forbes left Scotland after the object of his affection had decided to marry another. "I otryahnul ashes of Scotland with his legs - he says - and sailed into the most remote corner of the world, who could imagine - in South Africa, where just completed Boer War, and where, I believe, can be found quite sharp emotions, to calm my black, black sorrow. " Stayed two years in South Africa, he traveled to the United States. In New York, he started writing for several newspapers, covering the issues of business from the financial market to foreign currencies. When William Randolph Hurst decided they wanted to have better financial pages in The New York American, "he hired Forbes, over time, became the best-known financial commentator Hirst.

In 1917, Forbes magazine has based its name. He was going to call it "the case and their vershiteli" (Doers and Doings), but friends convinced him to change, and they felt that his name is in itself a wonderful marketing tool. Even after Forbes founded his own magazine, Hurst asked him to write a syndicated financial column. Shrewd observer of events, Wall Street agreed. Forbes is not afraid to attack such celebrities Wall Street, as Jay Gould, who has criticized the "narrowness of his views, his unreasonable jealousy, his chronic suspicion, etc." using their experience and the bad, and the characters, it offers a view of the operator of a typical Wall Street in the essay "Millionaires Wall Street."

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The forecast and an analytical review of the FOREX market

The forecast and an analytical review of the FOREX market for the week 1.03.04 - 5.03.04


Last week was marked by market expectations of 2 major events. In the first place - it was a meeting of the European Central Bank on Thursday. Secondly - this Friday on the U.S. labor market. Any of these events can teach surprises, so market participants are trying to prepare, based primarily on technical signals. Thus, the week was a good gift for chartist - rates of major currencies behaved quite precisely in line with the rules of technical analysis.

On Monday, foreign exchange trading took place in a moderate pace, investors seem hesitant observed at the end of last week, is still reflected in the market.

As dealers Forex Club, reducing the activity of the players took place not only within the previous few days, but weeks and wait came mostly on long-term investors. The main reason for that, obviously, was a turning point in the prevailing "bull" trend of evrovalyutam, although such a fundamental change has not yet been confirmed. An important event that day was the promulgation of ISM index in manufacturing the United States. And although the figure has little significance nizheozhidaemogo (61.4), his subindeks characterizing the employment in the industry, has demonstrated impressive growth. Because of this, (! Already!) Can be assumed that the published later in the week, figures on the list of employees in non-agricultural sector will show good growth. That's why the market continued to "discharge" of long positions on evrovalyutam against the dollar. Further strengthening of the dollar against the euro and the yen followed the next day, after Japanese Finance Minister Tanigaki outlined his vision of the market. According to him, one of the reasons for weakening of the yen is the growing confidence in the U.S. economy. In addition, he said that at this point in the market comes a natural correction of short positions on the dollar, which builds up the end of last year. Then the players' attention turned to the statement made by the head of Federal Reserve Alan Greenspan. And although his words were not such that could confirm investors' hopes for an early increase in interest rates in the U.S. dollar vzmyl against major rivals. As reported on information channels, the jump was the hidden reason for the Bank of Japan intervention, supported by trigger stop orders. Later, commenting on what is happening in the market, Alan Greenspan has confirmed this view, but also said that the effect of this large-scale intervention would be short-lived. At the same time, he expressed his concern about the continuous rising dollar reserves, which it believes could become a source of problems for the Japanese economy. Judging by the continued growth of the dollar on Wednesday, traders dismissed the accounts of his criticism, along with fundamentals, preferring to be guided by technical analysis of the signals, and ultimately proved right. A good indicator for the decision once again become a rate USD / JPY, which by noon reached 110.5, heated continuing the Bank of Japan intervention. But, released better than expected value for the price index of industrial production for the euro managed to briefly suspend the strengthening dollar. In January, rose by 0,2% compared with the previous month, and 0,3% compared with the previous year. Next came the index of business activity in the non-sector ISM, and although the value was below the previous reduction had been taken into account the market, so the publication is not followed by a wave of sales of American dollars. Far from it, the dollar continued to strengthen, resulting in a pair of EUR / USD has reached the daily minimum at around 1.2055, while GBP / USD at 1.8155, which is about 250 points below its daily maximum. As a consequence quotes euro turned, turned to the opening levels. According to the chief dealer Forex Club Peter Tatarnikova, investors started to close their short positions on a pair of EUR / USD around 1.21 marks, which corresponds to 38.2% of the rise of the euro / dollar level of 1.0750 to 1.2930. On Thursday, in the chaotic vibrations of the major currencies has been difficult to discern a trend, but the exception was the Japanese yen. Despite recent advances in an attempt to reduce the rate of national currency and criticism of the U.S., the Bank of Japan continues to provide its pressure. On this point, there were discussions under which Japan's Ministry of Finance has set a target placed 115 yen to the dollar, and then finally ceased to influence the rate of USD / JPY, because against the backdrop of sustained economic growth, continued interventions require exorbitant financial costs. The level of interest rates in the UK remained unchanged and amounted to 4%, in line with expectations. However, a small weakening of the pound after the announcement of data, the market was attended by many players, it is expected that rates did rise. Commenting on the event, representatives from Bank of America said that the likelihood of rate increases do have, but only in April. In their view, the causes may be to increase the strengthening of economic growth, consumption growth, house prices and the strengthening of leading indicators. The rates for the euro also remained the same - 2%. The response of the market has become a similar situation with the British pound as investors after the publication started to buy dollars as a result of this, a pair of EUR / USD has reached the daily minimum at around 1.2140. At a press conference held later, the head of the ECB Trichet, the expectations of journalists, not spoken about the prospects of monetary policy in the future, as well as the negative impact of the euro on the economy. Applications for unemployment benefits in the U.S. went a bit better than expected values, however, it did not prevent evrovalyutam stronger after their promulgation.

The biggest surprise for the market Friday yielded data. Despite the fact that all the preliminary indicators signalizirovali improvement in the labor market, the actual figures on the list of employees in non-agricultural sector have been much worse. Market zakladyvalsya still positive data, and this indicator increased by only 21,000 instead of the projected growth of 125,000. Seeing such figures, the market has literally exploded, quotes on the euro and the pound soared up immediately by more than 100 points. This movement is not stopped, and, with a strong charge, the dollar continued to weaken European currencies. Only quotes dollar / yen stood the pressure on the dollar, which felt the impact of the Bank of Japan. On the contrary, prices uderzhalis higher level of 111.00 and then rvanulis point to 112.00.

The forecast for the week of 8 to 12 March.
Given the serious impact of the U.S. labor market, they are very low value is a major application for the cessation of backsliding on the dollar. Low employment growth in fully justifies the reluctance of the representatives of the Fed time to talk about possible rate increases. Therefore, the prospects for rate increases, some economists had expected during the summer, away in time, reducing the attractiveness of the dollar. As noted by Alexei Trifonov, a leading analyst of Forex Club, "these forces are able to ask a similar motion in the medium term. In this connection, we can again see a continued trend Bear on the dollar. However, while that of building large amounts of short positions on the dollar keeps stable behavior dollar against the yen, not without the participation of Japanese financial institutions. In addition, next week, went on U.S. foreign trade (Wednesday), retail sales (Thursday) and consumer confidence (Friday) that the market will pay close attention. Therefore, strong growth These indicators may have to stop the dollar decline, because it will demonstrate the progressive forces of the U.S. economy racing. At the same time, any declines will be negatively perceived by the market, with strong pressure on the dollar. "

Review prepared by the analytical department of Forex Club Financial Company www.fxclub.org