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Sunday, April 24, 2016

DGCX to start currency trading from June 12 - forex trading home based business

DGCX to start currency trading from June 12 ~ forex trading home based business

The Dubai Gold and Commodities Exchange (DGCX) will start currency futures trading in three currency contracts from June 12, said Framroze Pochara, Chief Executive Officer of DGCX yesterday.

With the launch of currency futures, DGCX has entered select league of global derivative exchanges that offer currency derivatives. DGCX already has gold and silver futures and expects to add fuel oil and steel futures in the near future.

Speaking to Khaleej Times yesterday, Pochara said there is a huge spot market for leading international currencies in the UAE. While the futures market will serve as an ideal hedging platform for banks, money exchange houses and trading houses it will also offer investment opportunities for currency investors.

Initially DGCX will trade futures contracts in 3 currencies — Euro-Dollar, Yen-Dollar and Sterling-Dollar with contracts maturing in March, June, September and December each year. These will be deliverable contracts. This will establish DGCX as the first exchange for trading currencies in the Middle East.

The global spot market for currencies exceeds $2 trillion daily turnover while the derivative transactions are several fold larger than the spot market. DGCX expects participation from all leading local, regional and international banks in the currency futures trading. “Currently we have more than 100 broker members on DGCX and all of them are eligible to participate in currency trading from day one. The initial response has been very encouraging and we expect good response from all market participants,” said Arshad Khan, Director of DGCX.

DGCX will follow T+1 trading system in currency trading with National Bank of Dubai and HSBC acting as delivery banks for settlement of DGCX currencies futures contracts.

Sunday, April 3, 2016

CBR has no intention to change structure of forex reserves Ignatiev - forex trading home business

CBR has no intention to change structure of forex reserves Ignatiev ~ forex trading home business

Russia’s Central Bank has no intention of changing the structure of the foreign exchange component of its gold and foreign exchange reserves.

“That component is diversified well enough,” CBR President Sergei Ignatiev told the international banking congress in St. Petersburg on Thursday.

The dollar component constitutes half of the foreign exchange reserves and the euro component, 40 percent. The other currencies are the British pound and the Japanese yen, the latter accounting for less than one percent of the reserves.

Wednesday, March 23, 2016

Forex Candles - become rich trading forex at home

Forex Candles ~ become rich trading forex at home

Lately i sterted to wounder, candles where made for stock market which is open only 8 hours a day, so every daily candle on stock market has its own meaning it is seperated timeframe, on the other hand Forex is never close (except weekends) so what is the value of Forex daily candle?

My doubts became even bigger when i found out that Steve Nison (world class candlesticks expert) has a seminar on diffrences between Forex and Stock Market candles, so there must be something on it.

Anyway I am not Steve Nison but here is my take on it.

1. Diffrent people can have diffrent candles on their monitors, for example when i see doji, someone on the other side of the globe can see "hammer" or any other candle, why? Anserw is simple no one can tell you when one day on forex market has passed, it can be diffrent hour in Europe, diffrent in America and diffrent in Asia, more over traders in one country can have diffrent candle patterns on their charts, it is very subjective, everything comes down to defined hour of the day when new candle is open.
On the other hand there isnt such problem on the Stock Market everyone has got the same daily candle.

2. I said it before but i will reapeat it here, Forex market do not close, actually it do not have such a thing a session (unless you threat time from monday to friday as a session). On Stock Market yesterday candle has got nothing common with todays candle, hard to belive it but this is the way it is and that is why there are so many gaps on stocks charts, dont get me wrong i am not saying that trend do not exists im just saying that daily candles on Stock Market are "self dependent", unlike Forex candles they are almost always close to each other, one cadle close price is next candle open price, it is very common you have to agree.

3. As for gaps, you will hardly see them on Forex, but sometimes they occur, espacially after weekend it looks like "something" had to happen to move open price far away from last close price, on Stock Market it happens daily on Forex weekly, in fact it can be even monthly.

These are my thoughts, but i have got one question for you. What is the point in using candles on 5M charts? They cant even make a simple formation, even if they do it is pointless to use it You proboably saw 5 or more doji in a row on charts less then 5M is there any interpretation for this, each of them means trend reversal? I do not think so.
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