PLATFORM - TFI FX

PLATFORM - TFI FX

The platform boasts a simple and user friendly interface that allows clients to easily monitor their transactions, manage their account and perform a variety of technical analysis. Some of the features include: Coverage of the financial markets. Constantly updated real time prices. Instant execution, order placement, stop-loss and take-profit orders. Large numbers of technical indicators and the ability to script more complex customized indicators through the platform’s own programming language. High security through the strong encryption of information transmitted. Users can define and view unlimited charts. Daily account statement. Multi-lingual platform with up to 20 different languages to choose from. You can program your own trading strategies with the Expert Advisor.

FOREX - FX Market

FOREX - FX Market:

The FX market is the largest global market with daily trading volumes greater than USD 3 trillion! It is currently one of the most efficient and liquid markets accessible.

TFI FX offers its clients the ability to make speculative transactions on FX fluctuations between currencies. Customers can also buy/sell deliverable currency to cover FX obligations.

In the last decade the foreign exchange market has developed and expanded. Originally banks executed FX deals to cover the need of their importing/exporting clients. Today we are in an efficient FX market with a variety of participants ranging from investment firms, asset managers, hedge funds and individuals that cater for trading and speculation requirements.

The FX market is a global over the counter (OTC) market (i.e. no central bank or clearing house acting as an intermediary). Deals are agreed between participants where firm credibility and local regulations ensure the delivery of transactions.

A number of market contributors execute FX deals to finance international business so as to acquire a range of assets and services. Others sell/buy currencies for speculation aiming to profit from price fluctuations. The international demand and supply for currencies is what determines the exchange rates of all currency pairs at any given moment.

Forex Glossary

ASK (Offer) _price of the offer,the price you buy for.

Aussie_ a Forex slang name for the Australian dollar.

Bank Rate _ the percentage rate at which central bank of a country lends money to the country's commercial banks.

Bid_ price of the demand,the price you sell for.

Broken_ the market participating body which serves as the middleman between retail traders and larger commercial institutions.

Cable_ a Forex,traders slang word GBP/USD currency pair.

Carry Trade_ in Forex,holding a position with w positive overnight interest return in hope of gaining profits,without closing the position,just for the central banks interest rates difference.

CFD_ a Contract for Difference_special trading instrument that allows financial speculation on stocks,commodities and other instruments without actually buying.

Commission_broker commissions for operation handling.

CPI_consumer price index the statistical measure of inflation based upon changer of prices of a specified set of goods.

EA (Expert Advisor) _ an automated script which is used by the trading platform software to manage positions and orders automatically without _or with little) manual control.

ECN Broker _ a type of forex brokerage firm that provide its clients direct access to other Forex market participants.ECN brokers dont discourage scalping,dont trade against the client,dont charge spread (low spread is defined by current market prices)but change commissions for every order.

ECB(European Central Bank)_ the main regulatory body of the European Union financial system.

Fed (Federal Reserve)_ the main regulatory body of the United states of America financial system,which division_ FOMC ( Federal Poen Market Committee)_ regulates,among other things,federal interest raets.

Fibonacci Retracements_ the levels with a high probability of trend break or bounce,calculated as the 23.6%,32.8%,50% and 61.8% of the trend range.

Flat (Square) _ neutral state when all your positions are closed.

Fundamental analysis _the analysis based only an news,economic indicators and global events.

GDP(Gross Domestic Product) _ is a measure of the national income and output for the country's economy; it's one of the most important Forex indicators.

Hedging _ maintaining a market position which secures the existing open positions in the opposite direction.

Jobber _ a slang word for a trader which is aimed toward fast but small and short-term profit from an intre-day trading.Jobber rarely leaves open positions overnight.

Kiwi _ a Forex slang name for the New Zealand currency _ New Zealand dollar.

leading Indicators _ a composite index (year 1992 =100%) of the most important macroeconomic indicators that predicts future (6-9 months) economic activity.

Jerry Furst

Name: Jerry Furst

Position: President

Company: Investors Education Network

As Founder and President of Investors Education Network (IEN), Jerry Furst has been conducting and coordinating live training seminars and events for years and is now a frequent speaker at Traders Expos, FXstreet.com Webinars, and an author in well known trading publications and web sites. Jerry is a former Sr. Analyst/ Programmer with IBM and has been a paid consultant and trainer to Fortune 500 companies.

Jerry has been trading his own account since 1987 and primarily trades and invests with Forex currencies, stocks, and equity options for his own accounts. He has found that running a networking group for traders is extremely rewarding as he continues to learn from the experts in the industry and the traders in his group.

Mr. Furst is also a mentor and trading coach to select clients. Jerry can be reached at JerryB1st (at) ienweb (dot) com or visit www.InvestorsEducationNetwork.com.

Forex History

The Evolution of FX Markets

The Gold Exchange and the Brett on Woods Agreement

In 1967,a Chicago bank refused a college professor by the name of Milton Friedman a loan in pound sterling because he had intended to use the funds to short the British currency.Friedman,who had perceived sterling to be priced too high against the dollar,wanted to sell the currency,then later buy it back to repay the bank after the currency declined,thus pocketing a quick profit.The bank's refusal to grant the loan was due to the Brett on woods Agreement,established twenty years earlier,which foxed nation currencies against the dollar,and set the dollar at a rate of $35 per ounce of gold.


The Bretton woods Agreement,set up in 1944,aimed at installing international monetary stability by preventing money from fleeing across nations,and restricting speculation in the world currencies.prior to the Agreement,the gold exchange standard--prevailing between 1876 and world war I--dominated the international economic system.under the gold exchange,currencies gained a new phase of stability as they were backed by the price of gold.It abolished the age-old practice used by kings and rulers of arbitrarily debasing money and triggering inflation.

But the gold exchange standard did not lack faults.As an economy strengthened,it would import heavily from abroad until it ran down its gold reserves required to back its money; consequently,the money supply would shrink,interest rates rose and economic activity slowed to the extent of recession.Ultimately,prices of goods had hit bottom,appearing attractive to other nations,who would rush into buying sprees that injected the economy with gold until it increased its money supply,and drive down interest and recreate wealth into the economy,Such boom bust patterns prevailed throughout the gold standard until the outbreak of World War I interrupted trade flows and the free movement of gold.

After the wars,the Bretton Woods Agreement was founded,where participating countries agreed to try and maintain the value of their currency with a narrow margin against the dollar and a corresponding rate of gold as needed.Countries were prohibited from devaluing their currencies to their trade advavtage and were only allowed to do so for devaluations of less than 10%.Into the 1950s,the ever-expanding volume of international trade led to massive massive movements of capital generated by post-war construcation.That destabilized foreign exchange rates as setup in Bretton Woods.


The Agreements was finally abandoned in 1971,and the US dollar would no longer be convertible into gold.By 1973, currencies of major industrialozed nations floated more freely,as they were controlled mainly by the forces of supply and demand.Prices were floated daily,giving rise to new financial instruments,market deregulation and trade.

In the 1980s, cross-border capital movements accelerated with the advent of computers and technology,extending market continuum through Asian,European and American time zones.Transactions in foreign exchange rocketed from about $70 billion a day in the 1980s, to more then $1.5 trillion a day two decades later.

What is Forex(Foreign Exchange)?

Foreigh Exchange(FOREX) is the arena where a nation's currency is exchanged for that of another.The foreign exchange market is the largest financial market in the world,with the equivalent of over $1.9 trillion changing hands daily;more then three times the aggregate amount of the US Equity and Treasury markets combined.Unlike other finacial markets,the Forex market has no physical location and no central exchange(off-exchange).It operates through a golobal network of banks,corporations and individuals trading one currency for another.The lack of a physical exchange enables the Forex market to operate on a 24-hour basis,spanning from one zone to another in all the major financial centers.

Traditionally,retail invertor's only means of gaining access to the foreign exchange market was through banks that transacted large amounts of currencies for commercial and investment purposes.Trading volume has increased rapidly over time,especially after exchange rates were allowedto float freely in 1971.Today,importers and exporters,international portfolio managers, multinational corporations,speculators,day traders,long-term holders and hedge funds all use the FOREX market to pay for goods and services,transact in financial assets or to reduce thr risk of currency movements by hedging their exposure in other markets.

MG Financial,now operating in over 100 cointries,serves all manner of clients,comprising speculators and strategic traders.Whether it's day-traders looking for short-term gains,or fund managers wanting to hedge their non-US assets,MG's DealStation Tm allows them to participate in FOREX trading by providing a combination of live quotes,Real- Time Charts, and news and analysis that attracts traders with an orientation towards fundamental and/or technical analysis.

Forex Trading with GFX

Trade on 2 to 3 pip Spreads.
GFX'S low spreads improve net trading results, especially for active traders. GFX uses its economies of scale and efficient dealing practices to offer the lowest spreads in retail Forex.

Instant order execution.
Orders placed on the GFX software are executed immediately online, up to 100 lots (10 million currency units) at a time. Traders can also place stops, trailing stops, or limits on open positions or have them pre-set on market orders.
Zero Commissions and Fees.
GFX clients always trade with zero commissions and no transaction fees, unless agreed otherwise.
Powerful Trading Software.
GFX "GlobalTrader" software sets new standards in online trading functionality, performance, and ease of use.
Fractional lot sizes.
Trading on GFX's software is not confined to only 1 lot increments. Clients can also trade .5 of a lot, 1.2 lot, or any other amount. Each Lot is equivalent to 100,000 currency units.
Real-time account and margin information. Your account balance, usable margin, and value of open positions are displayed in the trading software in real-time.
Real-time Charts, News and Quotes.
GFX GlobalTrader software has charts, news, and quotes easily accessible from the menus.
Multiple Account Trading.
Trading managers and funds can trade multiple accounts from a single window. The GlobalTrader software allows a block order to be automatically split up among multiple customer accounts as specified by the trader.
"Mini" Trading Capability.
Set the number of Lots to "0.1" to trade a mini position with 1 pip equal to about $1. Margin requirements for these positions are $50.
Hedging capability.
Traders can open positions in the same currency in opposite directions, without the positions offsetting and without using additional margin.
Service and Support.
GFX clients have access to 24 hour technical support, as well as 24 hour trading by telephone or chat.
Lower Margin Requirements.
Trade all currencies on 0.5% margin; equivalent to 200:1 leverage. Lower margin requirements mean more trading flexibility without getting a margin call.
Wide selection of productsTrade.
any of 49 major and exotic currency pairs, plus gold and silver. All products are commission-free with the same low margin requirements.

Limited Risk.

GFX's clients can never lose more than their funds on deposit.
Security of fundsWith GFX, your funds are secure and properly handled by a supervised broker with over CHF 10 million of capital. Client funds are segregated from GFX's own assets, thereby offering security of client funds.

Impact of U.K. Consumer Prices on GBPUSD over the last 3 months

-31September 2008 U.K. Consumer Prices:
Price pressures in the U.K. reached its highest level since recordkeeping began in 1997 as the consumer price index spiked to 5.2% from 4.7% in August. Despite the bigger-than-expected rise in the CPI, falling commodity prices have helped to alleviate price pressures in the U.K., which lead the Bank of England to join the Fed and ECB in a coordinated rate cut on October 8th, and unexpectedly lowered the benchmark mark interest rate by half a percent to 4.50%. The surprising move by the central bank indicates that the MPC has shifted their focus to the downside risks for growth, and suggests that price pressures may fall even lower over the coming months as Europe’s second largest economy heads into a recession. Fading growth prospects paired with cooling inflation suggests that the BoE may lower borrowing costs further as growth fears intensifyAugust 2008 U.K. Consumer Prices

The U.K. consumer price index rose at a record pace in August as it reached 4.7% from 4.4% in July, which was slightly higher than the 4.6% clip expected by economists. Rising prices pressures have been an ongoing concern for the BoE, but the central bank could be forced to switch gears as the U.K. economy teeters on the brink of a recession. Fading growth prospects paired with the slowdown in the global economy has led market participants to raise bets that the central bank will deliver a rate cut in the coming months as the economy failed to grow in the second quarter. Indeed, falling oil prices are anticipated to curb upside price pressures in the following months, which allot the BoE more room to target downside growth risks in the following months.

How To Trade This Event Risk:
Inflation in the U.K. is anticipated to pull back from a record high as economists forecast the consumer price index to fall to 4.8% from 5.2% in September. Falling commodity prices should certainly help to lower price pressures in Great Britain as crude oil prices continue to hold below $60 a barrel, and may lead the Bank of England to hold a dovish outlook over the coming months as economic activity slows at a record pace. Europe’s second largest economy contracted for the first time in 16 years as GDP declined 0.5% in the third quarter, and led the BoE to lower the benchmark interest last month by a whopping 150bp to 3.00% from 4.50%. With the key rate at its lowest level since 1955, market participants expect the extraordinary efforts by the central bank to pass into the real economy, which should help to boost economic activity going forward. However, the MPC noted that inflationary risks have ‘shifted decisively to the downside’ following the policy meeting on November 6th, and highlighted that the larger-than-expected reduction ‘was necessary’ to meet the 2% target’ for inflation. Alleviating prices pressures paired with deteriorating fundamentals suggests that Governor Mervyn King will continue to hold a dovish outlook well into the next year, which could drag the British pound lower over the near-term as market participants expect the BoE to remain focused on the downside risks for growth. Moreover, Credit Suisse overnight index swaps are showing that investors expect the MPC to lower the interest rate by nearly 100bp over the next 12 months as the growth outlook turns increasingly bleak. In addition, as fears of a global recession intensify, buying pressures for the Sterling may remain subdued over the near-term as risks sentiment continues to drive price action for the currency market.
As the Bank of England remains focused on growth, we would need a significant rise in the CPI to consider a possible bullish pound trade following the given event risk. Therefore, a reading above the record high of 5.2% would set the stage for a long GBPUSD trade, and we will look for a green, five-minute candle following the release to confirm entry on two lots of the pound-dollar. We will place our initial stop at the nearby swing low (or reasonable distance), and our initial target will be set equal to this risk. Our second target will be base on discretion, and in order to preserve our profits, we will move the stop on the second lot to breakeven once the first trade reaches its target.
On the other hand, an inline print or an inflation reading below 4.8% would only support the dovish outlook held by the MPC, and may weigh on the British pound over the near-term. As a result, declining price pressures would certainly favor a short GBPUSD trade, and we will follow the same setup for the short as the long trade listed above, just in reverse.

Japanese economy

The Japanese economy has without doubt entered a sharp contraction, although GDP in Q3 declined only 0.1% q/q (Consensus: 0.0%, Danske Bank: -0.1%) after dropping 0.9% q/q in the previous quarter (revised down from earlier reported 0.7% q/q contraction). The Q3 figures were broadly in line with our expectations, with the weakness mostly driven by weaker net exports and corporate capital expenditures, while both private consumption and residential investments showed some resilience (see chart 2). Overall, private consumption was slightly better than expected and corporate capital expenditure slightly worse. Private consumption increased 0.3% q/q (Danske Bank: 0.1% q/q), while private non-residential investments declined sharply by - 1.7% q/q (Danske Bank: -1.0% q/q).

AUSTRALIAN CREDIT/FOREX

AUSTRALIAN CREDIT/FOREX (0100 GMT) SNAPSHOT:

FOREIGN EXCHANGE (against previous Sydney close) 0.6446/51 (0.6471/74)1.1703/25 (1.1697/24) 62.20/26 (62.99/05) 96.49/55 (97.34/36) 0.5110/15 (0.5148/52) 1.2613/17 (1.2567/71)

DEBT FUTURES CASH YIELDS

90-DAY BILL (DEC) 95.650(-0.050) 4.62(4.60)

3-YR BOND (DEC) 96.170(-0.040) 3.82(3.84)

10-YR BOND (DEC) 95.020(-0.005) 4.97(4.95)

3/10 SPREAD +1.150 (+1.170) AUST/US 10-YR SPREAD +131(+122)

S&P/ASX 200 3610.7 (3654.6) US10-YR 3.65(3.73)

________________________________________________________

DATA: Merchandise imports rose 5 pct to A$21.91 billion in

October. Imports on a balance of payments basis rose by 1

percent, with oil up again as the local dollar fell sharply.

_______________________________________________________________

* The Australian dollar eased further on Tuesday as dovish

comments from the country's central bank were taken as leaving

the door open for further sharp cuts in interest rates.

* Minutes of the Reserve Bank of Australia's (RBA) November

meeting showed it was increasingly worried about the impact that

a deteriorating global outlook and the destruction of household

wealth were having on business and consumer confidence.

* The economic outlook dimmed so rapidly that the board chose

to cut by 75 basis points to 5.25 percent when the initial

recommendation just a few days earlier was for a 50 basis-point

move.

* The RBA was also more confident that the economic slowdown

combined with global disinflationary forces would soon see

domestic inflation fall.

* Market still pricing in a cut of at least 75 basis points

at the RBA's December policy meeting and a further easing to

around 3.5 percent by March.

* The minutes also showed the RBA was not intending to defend

a particular level by intervening to buy the Australian dollar,

rather it was adding liquidity when markets became disorderly.

* The Aussie, which had already been under pressure from

falling share prices, dipped to around $0.6445, from $0.6480

before the minutes were released.

* It had bounced from $0.6350/60 support on Monday to reach

as high as $0.6597 before running out of steam as U.S. shares took a late dive.

* The late drop in U.S. equities added to risk aversion and

benefited the safe-haven Japanese yen. The Aussie dipped back to

62.12 yen, from a 64.11 peak on Monday.

* The same focus on safety boosted bonds at first, with

short-term futures reaching record highs, but profit-taking set

in as the day wore on.

* Three-year bond futures eased back 0.050 points to

96.165, while the 10-year contract fell a bare 0.005

points to 95.020.

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   Currency Pairs Monitored by ForexSignal.com
   EURO USD
   USD CAD
   GBP USD
   AUD USD
   USD CHF
   NZD USD
   USD JPY
   EUR JPY