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Seasonal Stock Market Trends - The Definitive Guide to Calendar-Based Stock Market Trading

Jay Kaeppel “Seasonal Stock Market Trends - The Definitive Guide to Calendar-Based Stock Market Trading”
January 2009 | English | ISBN-13: 978-0-470-27043-1 | 317 Pages | PDF | 5.45 MB

There is a seasonal bias to the stock market, and by paying attention to the seasonal market tendencies you can gain an edge in the stock market over the long haul. Seasonality offers a practical approach to investing and trading.

What better way to learn how to employ seasonal systems than learning from Jay Kaeppel, a master in the analysis of seasonal trends? Kaeppel walks you through this phenomenon that continues to work consistently, providing you with his ultimate seasonal index to make the calendar work for you. Stock Market Seasonals provides a never-before-seen definitive guide that illustrates how to utilize a combination of four basic seasonal tendencies in order to maximize returns.

Download LINk : RapidShare Link

Forex Revolution

Forex Revolution



Foreign currency exchange-"Forex"-is today's #1 new investment opportunity. Revolutions in technology, regulation, and globalization have made Forex trading accessible to every active investor. Only one thing has been missing: An objective, clear "user's guide" to Forex trading. Now it's here-and it's in your hands.

Simply and clearly, Forex Revolution reveals everything you need to know to trade Forex hands-on-from fundamental and technical trading strategies to the unyielding discipline that's essential to success.

In this book, Peter Rosenstreich brings together insider techniques from all over the industry: Traders, banks, Forex firms, even the National Futures Association. You'll find expert guidance on everything from handling 24/7 markets to profiting from the emergence of China.

Unlike other books, Forex Revolution doesn't require you to subscribe to costly services or purchase expensive tools. Whether you're an individual investor or a money manager new to Forex, this book gives you all you need: Facts, techniques, resources and-above all-the insider's edge.

PDF | 2.96MB

http://uploading.com/files/2U41M1N8/Forex_Revolution.pdf.html

Project Pips

What I've put together is a software program that will serve me - and serve you - until the day that we die.

Possessing it prevents us from ever feeling helpless about having easy access to cash.

Can you imagine financing an exotic vacation to the Bahamas?

All you'd have to do is "work" 5 minutes a day and within a matter of days, or weeks -- bam! -- you have the trip covered...

How about a new car?

And, for long term goals, how about a mortgage-free home?

Can You See The Possibilities?

I'm sure your mind can come up with numerous possibilities for your newfound cash, but I want to reinforce that...

It works seamlessly in ANY country with ANY forex broker...  You can test it out on demo account immediately after downloading...  It's 100% automated -- easy as 1-2-3 system - ideal for 'virgin' traders or grizzled veterans looking for stress-free, steady returns...  You only need $300 to get cracking...  You can use it anywhere at anytime...  You don't have to think or make any nervous decisions...  You can SQUEEZE it into your day whenever it suits you – be it in the morning, noon or evening... it doesn’t matter – one that lets you slip in and out of the markets, snatching up to 416 pips ($4,160) in one day...  NO complex charts, NO fancy jargon, Nothing to interpret. Just allow the system to do all the heavy lifting for you -- and grab your profits...

See how easy it is?

I took every pre-caution to ensure that it serves the needs of a 9 - 5er, because I have a special empathy for people who've been told in their early life that the way to success is to go to school, get good grades and get a PLUSH job.

That is SO old school.

What I've put together is a software program that will serve me - and serve you - until the day that we die.

Possessing it prevents us from ever feeling helpless about having easy access to cash.

Can you imagine financing an exotic vacation to the Bahamas?

All you'd have to do is "work" 5 minutes a day and within a matter of days, or weeks -- bam! -- you have the trip covered...

How about a new car?

And, for long term goals, how about a mortgage-free home?

Can You See The Possibilities?

I'm sure your mind can come up with numerous possibilities for your newfound cash, but I want to reinforce that...

It works seamlessly in ANY country with ANY forex broker...  You can test it out on demo account immediately after downloading...  It's 100% automated -- easy as 1-2-3 system - ideal for 'virgin' traders or grizzled veterans looking for stress-free, steady returns...  You only need $300 to get cracking...  You can use it anywhere at anytime...  You don't have to think or make any nervous decisions...  You can SQUEEZE it into your day whenever it suits you – be it in the morning, noon or evening... it doesn’t matter – one that lets you slip in and out of the markets, snatching up to 416 pips ($4,160) in one day...  NO complex charts, NO fancy jargon, Nothing to interpret. Just allow the system to do all the heavy lifting for you -- and grab your profits...

See how easy it is?

I took every pre-caution to ensure that it serves the needs of a 9 - 5er, because I have a special empathy for people who've been told in their early life that the way to success is to go to school, get good grades and get a PLUSH job.

That is SO old school.

Maybe that's what you've been told. Only to find out that following that advice does NOT guarantee you will have the financial wherewithal to take care of unexpected expenses and acquire the material things you want.

I know a lot of bright people who are broke.

Anyway you take it....

There's No Where You Can Find A Job 
That Pays $1,530.00 For 5 Minutes Work...

And to prove to you how magnificently powerful Project Pips is, I want you to take a look these recent, real-life trade records:

Try The Software Out For Yourself
To Determine If What I Say Is True.

Because I could write forever about the wonders of my system; I could show you a 1001 screenshots... but it wouldn't mean a thing unless you test it yourself.

You know that's true.

So here's the deal:

 Order Project Pips right now for only $77... and open a demo account and play around with it until you're ready...

...OR...

 If you have the cash to spare, risk $500 and...

"If you want to get to the top of the forex market “food chain” you have come to the right place."

In our quest to find the most profitable and at the same time for a "small" trader feasible forex trading system we have tested and analyzed many different forex trading strategies. The strategies that we have tested were ranging from simple combinations of TA indicators to more complex trading systems that were utilizing support/resistance levels, pivot points, chart patterns etc... However in order to reduce the number of systems that were later scrutinized more closely, we have developed our own system selection criteria. Basically the system that we were after had to have following properties: Simplicity, Efficiency and Consistency.

As we all know forex trading strategies are becoming more and more complex and sophisticated. What does it mean for our average independent forex trader? It means that our simplicity factor when developing a trading strategy gains in importance.

What usage could an average person make from a forex strategy that requires or presumes a profound knowledge in mathematics at a PhD level and a computing power beyond that of the newest personal home computer? A type of highly complex strategies commonly used by investment companies are neural networks. A neural network is, in short, a model of interconnected neurons (also known as nodes) that was inspired by the logical neurons in human nerve system. Like the human brain a neural network can acquire, store and utilize experiential knowledge in order to improve its performance day by day. Regrettably, to consistently use a forex strategy based on neural networks one requires the complex knowledge of how to feed a neural network with history data as well as excessively high computing power not affordable to our average forex trader.

Therefore we have set ourselves with a goal of finding a forex strategy that is comparable in its profit potential to the most complex professional trading system and at the same time is feasible and understandable to our average trader.

Simplicity

It has to be, of course. You don't want to have to attempt to understand the sophisticated, complex trading systems employed by the major corporate investors, with their teams of fully-resourced professionals using highly developed automated tracking networks and advanced mathematical formulas spread through several floors of their head office. Neither do you want to have to spend on an expensive, top-of-the-line computer stuffed with proprietary trading software.

Rather, you want a simple strategy which you can understand and quickly implement, and yet gets the same trading results as those coming out from the corporate office tower blocks. Our forex strategy delivers the results, yet is striking in its simplicity and elegance.

Next, our forex strategy is efficient.

Efficiency

That means, it is profitable. This is how various trading strategies are compared, actually. A system that shows more profit during a specific period is said to be more efficient. Our personal experience with this new strategy, and the extensive tests we have run, all show it is ruthlessly efficient. In fact, we have noticed that if a trader will simply follow our forex strategy, they will succeed. Forex strategies just don't get more efficient than that!

"Here are the results recently achieved by our strategy"

Symbol	Type	Open Time	Price	Close Time	Price	Pips
EURUSD	SELL	08/08/08 03:05	1.5166	08/08/08 12:05	1.5054	+112
GBPUSD	SELL	08/11/08 07:30	1.9209	08/11/08 19:55	1.9121	+88
EURUSD	SELL	08/14/08 09:10	1.4895	08/14/08 16:50	1.4824	+71
GBPUSD	SELL	08/17/08 22:00	1.8676	08/17/08 23:55	1.8705	-29
EURUSD	SELL	08/25/08 12:50	1.4781	08/26/08 08:35	1.4615	+166
USDCAD	BUY	08/25/08 11:40	1.0474	08/26/08 08:35	1.0514	+40
GBPUSD	SELL	08/27/08 08:35	1.8447	08/27/08 19:40	1.8360	+87
EURUSD	SELL	08/28/08 03:35	1.4756	08/28/08 07:45	1.4792	-36
GBPUSD	SELL	08/29/08 06:25	1.8277	08/29/08 15:10	1.8211	+66
USDCAD	BUY	09/01/08 08:25	1.0666	09/01/08 05:50	1.0699	+33
GBPUSD	SELL	09/04/08 06:05	1.7813	09/04/08 22:25	1.7576	+237
EURUSD	SELL	09/08/08 02:45	1.4338	09/09/08 02:40	1.4137	+201
GBPUSD	SELL	09/08/08 18:10	1.7541	09/08/08 18:45	1.7585	-44
GBPUSD	SELL	09/10/08 09:25	1.7577	09/10/08 18:50	1.7523	+54
EURUSD	SELL	09/11/08 09:50	1.3900	09/11/08 11:35	1.3934	-34
EURUSD	SELL	09/16/08 09:15	1.4217	09/16/08 14:50	1.4146	+71
GBPUSD	SELL	09/18/08 14:05	1.8191	09/19/08 08:50	1.8101	+90
USDCAD	SELL	09/19/08 08:45	1.0606	09/19/08 14:10	1.0534	+72
EURUSD	BUY	09/24/08 04:30	1.4692	09/24/08 11:50	1.4661	-31
GBPUSD	BUY	09/25/08 14:15	1.8349	09/26/08 01:05	1.8391	+42
EURUSD	BUY	09/29/08 07:45	1.4364	09/29/08 15:55	1.4447	+83
USDCAD	BUY	10/01/08 19:00	1.0632	10/03/08 00:20	1.0758	+126
GBPUSD	SELL	10/03/08 14:30	1.7773	10/05/08 18:30	1.7670	+103
USDCAD	BUY	10/06/08 08:35	1.0901	10/06/08 14:40	1.1038	+137
EURUSD	SELL	10/07/08 10:40	1.3654	10/07/08 23:45	1.3596	+58
USDCAD	BUY	10/08/08 01:35	1.1093	10/08/08 02:50	1.1043	-50
USDCAD	BUY	10/08/08 08:40	1.1071	10/08/08 21:55	1.1245	+174
Totals EURUSD		+661 pips
Totals GBPUSD		+694 pips
Totals CADUSD		+532 pips

To put it in layman's terms, a $5,000 start up capital combined with the power of leverage
grew to $23,429. And that is for the period of only two months!

Here are examples of some of the most recent trades: Example 1: GBP/USD Day Trading Strategy Example 2: EUR/USD Day Trading Strategy Example 3: USD/CAD Short Term Trading Strategy Example 4: GBP/USD Short Term Trading Strategy

But there is something else -- our forex strategy is consistent. It always works. Consistency Again, this is what distinguishes the best strategies because you can only plan for capital draw downs and profit build-ups if you are consistently taking profits. You want to know that your forex strategy will keep returning profit even when the behavior of the market changes with unexpected political or financial crisis, or after major events like September 11. Or even when something small changes, like adopting a hard stop of 45 pips instead of the 50 pip stop that has served you well in the past. You want consistency when the market is suddenly hit by either small or large changes. And actually, you would almost certainly prefer a forex strategy that is efficient and highly consistent, than one that's highly efficient but less consistent. Well, our forex strategy is so consistent you could set your clock by it. It is as safe as money in the bank. In fact, our testing has shown that the chance of losing all your trading capital is so small as to be almost non-existent. So there you are. The safe, simple consistent strategy for the small trader like yourself, and you can test it without having to put up a single penny of trading capital.

"How to leverage your capital in order to multiply your profits."

Many beginning traders don't fully understand the concept of leverage. Basically, if you have a start up trading capital of $5,000 and if you trade on a 1:50 margin you can effectively control a capital of $250,000. However, a two percent move against you and your trading capital is completely wiped out. If you are a beginning forex trader you should not use more than 1:20 margin until you get comfortable and profitable and then and only then you can attempt to use higher margins.

What does 1:20 margin mean? It means that with your $5,000 you will control a capital of $100,000. Let's say you are trading the currency pair EUR/USD and by using our entry strategy you have decided to enter the trade on a long side. That means that you are betting that USD will depreciate against Euro.

Let's say current EUR/USD rate is 1.455. Again, if your trading capital is $5,000 and you are using 1:20 leverage you will effectively be exchanging $100,000 to Euros. If the current rate is 1.455 you will receive 100,000/1.455 = 68,728 Euros.

If the trade goes in your direction margin will work in your favor and 1% decline in USD will mean 20% increase in your start up trading capital. So if EUR/USD rate moves from 1.455 to 1.469 you will be able to exchange your 68,728 Euros back to $101,000 for a profit of $1,000. Since your start up trading capital was $5,000 it is effectively a 20% increase in your account. However, if the trade went against you and USD appreciated 1% vs. Euro your account would be reduced to $4,000.

Forex Armageddon: The Final Crucial Conflict.

Proof 1: EUR/USD - $47,460 profit in 64 days

Forex Armageddon made a 949 pip gain over 64 days. Trading 50 lots on a mini account the profit was $47,460. We entered the trade at 1.4726 and exited at 1.5675

Proof 2: EUR/USD - $137,100 profit in 595 days

Forex Armageddon made a 2742 pip gain over 595 days. Trading 50 lots on a mini account the profit was $137,100. We entered the trade at 1.3095 and the trade is still open!

Apply This Simple Plan And Tear The Hair Out Of Any Competitor Who Stands In The Way Of Your Forex Domination

It's time to assault the opposition ...before they even know you're coming.

Future Forex Market Scalper,

Why do people gripe about Forex System Sellers?

You'll find a ton of people online who bash Professional Forex Traders as a bunch of thieves reaching into your pocket to steal your cash while they bring home the real money.

Those people are completely missing the point.

They bash the Forex System Sellers because they don't know how to use their methods to dominate the markets and rake in profits that'll make them feel like Donald Trump. And when people don't understand something, they badmouth it to make other people think they know what they're talking about.

Well, we're here to tell you that the Forex System Sellers aren't the bad guys.

Claiming the Forex System Sellers are at fault when some ignorant traders lose their shirts on runaway trading methods is like blaming a gun manufacturer when somebody gets shot. Guns don't shoot people—people do!

In the same way, the Forex System Sellers don't steal money from people—they're own ignorance is what costs them. The truth hurts, but we're not going to soften the blow.

So the bad news is that ignorance of how to use Forex Systems can leave you destitute and frustrated. But here's the good news...


i will  Show You How To Use Our Forex Method ToSlaughter Your Opposition And Get Away With It

Trading Forex is a tool, not some magic genie in a bottle.

If you try to use it without knowing how, it'll be like picking up a running chainsaw by the sharp end. Not a smart move.

But if you know what you're doing, you'll be slicing through your competition like a hot knife through butter.

Think about it this way...

Ever seen a movie with somebody who really knows how to use a weapon? We meanreally knows how to use it.

His opponents don't have a prayer. He owns them. They can't run away fast enough, and they certainly can't fight back. It doesn't matter what they do, he's going to eat them for breakfast. He might not even break a sweat.

i m  going to give you the training you need to wield our Forex Armageddon System like a killer blade.

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Currency History - English Currency - Thomas Cook Foreign Exchange 890

A comprehensive forex stockbroker list investment banks with dealing lodgings, commercial with operations, and online that perform a larger flea market. The investment with forex interchange capabilities embrace Morgan Stanley, Merrill Lynch, Goldman Sachs, Salomon Smith Barney, Lehman Brothers, Credit Suisse First Boston, Deutsche Bank, JP Morgan, Prudential Securities and Bear Sterns.
Some of the brokerage filling station are not directly affable for all following. For specimen, inter-bank arcade dealers and in commercial banks handle huge purchaser orders themselves.
The top commercial in the Forex Broker List, having entomb-bank and treasury operations, are JP Morgan Chase Bank, Bank of America, CitiBank, Wachovia Bank, Wells Fargo Bank, Fleet Bank, US Bank, HSBC Bank, Sun Trust Bank, Bank of New York, State Street, Chase Manhattan Bank, Key Bank, Branch Bank, PNC Bank, Lasalle Bank, South Trust Bank, MBNA America Bank, Fifth Third Bank.
The online trader list of lesser forex financial statement sees new entrants almost on a regular starting point.The online agent list includes Forex Capital Markets, MG Financial Group, CMS Forex, Global Forex Trading, GCI Forex Direct, Forex.com, GAIN Capital, Real time Forex SA (Geneva), Global Forex, Commerce Bank and Trust, FX Solutions, Forex MHV, swissDirekt (Swiss), Goetz Financial Forex, NY Broker Borsentermin AG, Act Forex, Online Trader, Shield FX Online Currency Trading, Forex Trade Signals, CMC Group PLC, Foreign Currency Direct Limited (UK), FX Advantage, FXCM, Forex Millenium, ACM REFCO, REFCO Spot, Easy Forex, Online Forex Trading Inc., Lincoln Corporation, Global Trade Waves, Ltd., and CIBC FX Web Dealing.There are many populace who are entranced in forex substitution. But before you start swap in , getting a good online exchange education is important. The forex shop is principally a literal marketplace with its own forex footing and processes so it is important you extent the fundamentals with an online swapping tutoring.
Why Online Forex Trading Education?Most family who want to try transaction are regularly busy with more of life to take care of. They probably do not have the time to attend a strategy on forex trading. Therefore, an online tradeoff training is more suited.
Since itâ�,��"�s online, you can take your time to read and abstract the word at your own pace. Also most of the basics of forex tradeoff can be found online for free. There are tons of websites that make available free exchange courses and tutorials.
There are also free forex trading online available plus well ahead substitution online such as the forexmentor program. While itâ�,��"�s usually not free, the charges are reasonably cheap compared to attending a forex swap course in a classroom.
Another important part of an online forex interchange learning is method. I believe no matter how well you understand swapping or if you result an A in a transaction enterprise, the real deal comes when you actually start exchange.Most forex swapping sites a demo account for new beginners to interchange to gather how to govern their forex trading account. There is no monetary risk, so it is a very good way to understand the ropes.Once you feel you have enough experience, you can open a expected forex substitution account or a mini account. I would highly recommend you open a mini forex account and start transaction in reduced amounts. Forex Trading is the greatest home- business probable offered now, and mayhap even in times gone by. Let me show you why.

We just want to be see-through about who this condition is existence in print for. Anyone looking to foundation a home based business, or business, without a lot of earnings, but who is alacritous to put in the time obligatory to succeed his or her goals.

Forex Trading vs. Real Estate

One of the more in style home business is real plantation.

Let's take a look at some of the more unappealing parts of the real lands business.

Real Estate:

Amount of Money Needed to Begin:

Regardless of what the have to say, it expenses a distinguished deal of bucks to get into the real fortune business. Even the "No Money Down" systems bring to light you to an amazing quantity of risk.

Whether you put affluence down or not, you are answerable to pay for the "product" you are .

If you are incapable to find a way to foodstuffs revenue from your speculation quickly, you will be a mortgage disbursement. It only takes a few of mortgage to turn "No Money Down", to "Some Money Down", to "No Money Left".

Amount of Time Needed to Begin:
Another lie frequent on infomercial after infomercial is that it only takes a few hours a week to launch making coins in the real domain business.

We don't want to chatter for everyone else, but whom do they mull over they are kidding. So, let me get this sorted out...

? looking for a home online
? verbal communication to a realtor
? powerful around your region
? discourse to a mortgage specialist
? and all of the other things you have to do on EACH AND EVERY HOUSE

All of these, combined, will only take me a few a week?

We assume we are to see why such a substantial majority of home based businesses fail. It's misleading to believe a halfhearted attempt will lead to triumph.

Amount of Knowledge Needed to Begin:

In organization to succeed in the real assets business you have to obtain a multiplicity of acquaintance. How do you equitably value a home? How long will it take to fix, and sell, a home? How much had better planks cost? How long does it take to appoint a sink?

Those are the clean . Zoning laws, bond laws, and tax laws are just some of the more complicated topics that you'll need to fathom.

The fact is, we can endure writing about the gen you need for days. Obviously, in regulation for you to succeed in real housing estate you need a mammon of data.

Amount of People Needed to Begin:

unless you are completely used to with all aspects of the real worth business already, you will run into one of a few problems:
1. The volume of time it would take you to become usual with all sides of real holdings.
2. The amount of coinage it would cost you to FAIL at the real property business.
3. Most likely, the expanse of wealth it would cost you to build a team of people who are willing to "share" awareness with you.

Experts don't come cheap, and without them you are feeble. In our attitude, this is one of the greatest shortcomings of the real business park business.

Your attainment, at the end of the day, lies in the hands of . We can't accent this enough...you pecuniary future is dependant on the enactment of a complete outsider.


Forex Trading;

Amount of Money Needed to Begin:

Nothing. Zero. Zilch. Nada. $0.

If done right, you would not risk any bread when education to trade the Forex. Again, we supposition it's only fair for us to enlighten. Without too technical, we want you to be aware of one very important point.

Whether you are swap with $1,000,000 or $0, the figures and technology obtainable to you is identical. You can pick up the skills and erudition compulsory free.

Not only is this uncommon in relationship to other home business, it's also one-off in family member to other tradeoff markets (There will be an perfect critique the benefits of the Forex vs. any of the other markets).

FX Trading Software

If you are ready to buy FX trading software, then there are several things you need to make sure you understand before making that purchase. Not all trading software is created equally, and there are many programs out there that are nothing more than paid advertisements rather than actual software programs. Worse still, other programs are really just stock picking programs disguised as forex trading software programs.

How do you know if what you are buying is a real, legitimate program? There are several things you can look for to help with your decision before you buy FX trading software:

1. Does the program offer case study results for your review? Many programs make claims but do not back them up with any real data, or the data they do show just does not make sense. Make sure you are looking at any case study data, and then verify it with your own market research before you buy FX trading software.

2. Does the software use actual market results or only historical data? Some programs use backward looking data to show what their program would have done in a past market. While that is certainly nice, it also allows the company that is marketing that program to hand pick profitable trades and thus potentially skew the results. A legitimate program will show you real time data and results of the software.


3. Is it really FX trading software, or some other kind of strange stock trading program? This may seem obvious to some, but frankly, there are so many programs out there, it is important to remember. Some services and programs today are actually only stock recommendation programs, and they are typically penny stocks. What is interesting here is that some of them actually are sponsored by the companies they promote! Also, since the price of the penny stock is so low to begin with, the pure volume of trading that occurs if a stock is recommended will artificially inflate that price, which of course is not exactly legal either! Know before you buy FX trading software that you are getting what you want.

4.Do not buy FX trading software if there is a recurring fee involved. Some sites today are actually disguised as membership sites, where you pay an amount month after month. In some months, you may only get the opportunity to make one or two trades, and depending on your bankroll, this may eat up almost all of your profit for that month. Avoid any program that charges these recurring fees. While a legitimate FX trading software platform will not be cheap, it should be a one time payment only.

There are many pitfalls a potential investor can fall into when looking to trade on the foreign exchange markets. As with any investment program, you are always at risk of losses and no program can ever 100% guarantee you will be profitable. You must research and understand the real risk involved before making a decision to buy FX trading software. While a good program will certainly increase your chances of making profit, always only invest what you can afford to lose.If you are ready to buy FX trading software, the top program available today, just released in November of 2008, is the FAP Turbo program. This program contains all the legitimate services and information that are necessary to succeed in trading FX online. For more information on FAP Turbo, visit http://www.TheFapTurbo.info. However, if you want to venture into online investing on your own, be sure you are getting reliable investment analysis from trusted sources.

fx trading

Most countries have their own national currency such as the US dollar, the UK pound, the Japanese yen and the Thailand baht and these are of course necessary for making payments for goods and services within each country's borders. However, in a world where we are traveling more and more and where countries are increasingly trading with one another, foreign currency is required to pay for cross-border sales of goods and services. This means that there must be some mechanism in place to provide access to foreign currencies, so that payments can be made in a form that is acceptable to the seller, and thus the need for a foreign exchange market (or forex market which is simply short for FOReign EXchange).

In its simplest form foreign exchange refers to money which is denominated in a currency other than your own. For example, if an individual exchanges his own currency for the currency of another nation then he acquires foreign exchange. Of course we often think of foreign exchange in terms of tourism and most of us will have traveled abroad either on holiday or for business and exchanged currency on arrival at our destination to pay hotel and restaurant bills and for taxis, sightseeing and shopping. However, foreign exchange is not simply limited to the relatively small sums of money handled by tourists, but applies equally to larger transactions such as the exchange of hundreds of millions of US dollars when a US company buys another company which is based overseas.
Broadly speaking, in the US any money which is denominated in the currency of another nation would be termed as foreign exchange and it is important to remember that we are not necessarily talking here about cash. Foreign exchange can also consist of money which is available through a line of credit (such as a credit card) or that is held in the form of traveler's checks. In other words, we still talk about foreign exchange for any negotiable instrument which is denominated in a currency other than the US dollar.

When we talk however about the foreign exchange market we are not really concerned with the exchange of small sums of currency by tourists, but are looking at foreign currency which is exchanged between an international network of foreign exchange dealers and is normally exchanged in what most of us would see as being very large sums of money. For example, one of main players in foreign currency trading is the major banks and here a US bank might need Japanese yen and thus deposit several million US dollars with a Japanese bank in exchange for Japanese yen.

Today an increasing number of small investors are able to participate in the foreign exchange markets and benefit from the profits to be made as the prices of national currencies rise and fall against one another. In general however the private forex trader does not himself trade in large sums of money but is able to trade by working through brokers who are themselves major players in the market.

broker

A lot of investors in the Forex trading world are among busy professionals. This means they have less time to monitor and analyze the market trends or handling their own Forex trading account by themselves. Most of them resorted to hire a reliable "Forex broker" to go through the details for them. A really reliable broker is needed in any kind of trading what more in the virtual world.

There are numerous Forex brokers booming in the world wide web. It is up to us to make the decision on which one to go for. Most of these brokers normally offer useful services to ease customers. Some of them even provide their customers with attractive trading platforms too. There are those brokers that offer other products to trade besides Forex such as metal, shares, funds and stocks. These brokers also offer various language supports, free demo accounts, mini Forex trading etc, the list goes onSome online Forex trading portal offers the broker program, where one can earn a steady stream of compensations for referrals. These portals mostly offer easy-to-use trading platform, trader education and personalized customer service. This is when any of the new investors like you "play" as the broker for your trading.

Basically, everybody wants to earn more and to get the best out of their Forex trading activities. Thus, at the end of the day, it is up to us to choice what's the best for us. How much we are willing to risk? What are the market conditions? What is our upside and downside potential? What is the logic behind entering this trade? These are the questions that we need to ask ourselves before choosing any Forex platform to trade with. Figure out these details and you are well on your way to prosper as a Forex trader.

online Currency Exchange Converter

Looking for the best and most reliable online currency exchange converter? If the answer is yes, then you have spotted the right page. The internet has now become an indispensable element of every business and anyone looking for any services or product simply relies on Internet. This can also be said for a person who is looking for online currency exchange converter and as a result many websites have now started offering free online currency exchange converter.
This offered online currency exchange converter helps in knowing the exact amount you will be getting if you want a type of currency exchange. Prior to going for online currency exchange it is wise to know what foreign exchange is. Foreign exchange is the encashment of the currency of different country. It is also important that one is aware of the exact rates they will be getting so that there aren’t any problems in the future.
Foreign exchange usually takes place in the foreign exchange market which exists in every country. This foreign exchange market is by far the biggest market in the world. This is in terms of cash value traded which also includes trading between large banks, central banks, currency speculators, multinational corporations, governments, and other financial markets and institutions.
Earlier people were dependent on banks and other financial institutions whilst undergoing currency exchange. But after the emergence of the Internet, people now prefer to go for an online currency exchange converter. The biggest advantage of selecting online currency exchange converter over traidiotnal institutions is that it not only saves time but also money. Moreover, you can do that for various countries’ currencies. Isn’t it a convenient way of doing currency exchange?
Afex is the leading UK based financial company offering free online currency exchange converter on its website. Its online currency exchange converter helps you in knowing the exact amount you will be getting when you undergo a foreign currency exchange. Afex understands that every individual has got different needs and requirements and to cater those diverse needs Afex has taken every possible step. Being the UK’s leading and largest financial company, Afex provides every service one looks for. Afex understands that talking to newstaff members every time is very annoying and can lead to frustration. To avoid this situation Afex assigns a personal account manager to you. This assigned account manager will be there with you from start to finish of your transaction. Afex’s online currency exchange converter is the most reliable tool which gives accurate currency exchange rates. And for your satisfaction you can even compare them with other tools or websites.
For more information on online currency exchange converter, associated foreign exchange, currency converter UK and online currency converter simply visit www.afex-uk.com.

Trading Forex Foreign Currency

The foreign exchange market, that is universally known as Forex, is the planet's biggest and most prolific financial exchange market. It started in 1973. As the largest and most productive currency exchange market, Forex is the platform where a vast mass of Forex trading or foreign currency trading occurs.

For encompassing such an huge quantity of complete yield day after day, Forex may be deemed as a liquid market ideal for foreign currency trading.

In comparison to other security trading, foreign currency trading doesn't happen on a set exchange rate. Indeed, monies are traded mostly among commercial banks, central banks, non-banking international corporations, private investors, hedge funds, and of course, the speculators.

Some time ago, minor investors weren't allowed to take part in this type of trading because a considerable sum of deposit was mandatory. But, in the latest years, with the steady evolution of the Internet and the increasing level of competition, smaller investors may be included in foreign trading because the prerequisite to trade in Forex has been changed.

There are a a small number of causes why foreign trading is starting to attract more and more smaller sized and medium investors. A significant cause is due to the fact that Forex trading runs 24 hours a day, 5 days a week. In comparison to the past years, in which trading was carried out exclusively via telephone, now it can be accomplished easily and constantly among traders all over the world through the use of the Internet. Furthermore, as it is an unpredictable financial market, foreign trading is the ideal spot for income opportunities as the markets throughout the world ebb and flow.

Foreign currency trading tactics utilized by traders in order to trade the market might make a huge diversity in their outcome. Forex trading is an exceptionally cutthroat field. In order to be victorious, persons must focus on a set of uncomplicated Forex trading strategies that they can implement with no uncertainty.

Find out more about forex foreign currency by visiting http://learnforexstocks.com, a popular forex website that offers tips, advice and resources including information on forex trading software, how to practice the forex market, access to a forex calculator, and more.

currency trading

There are literally hundreds of currency trading systems on the market today. As a professional Forex trader, I buy every product related to the market and test them out to determine which ones make money and which ones are dogs. Supra Forex is one of four software systems I employ everyday to make my living.

The other three Forex trading systems I use are Fap Turbo, Forex Funnel and Forex Trend Systems. Fap Turbo is the only automated product that actually makes money for you on autopilot. I use Supra Forex in a semi automatic mode using a Forex strategy I personally developed, called "Triple Header Confirmations."

If you're not aware of this, each one of these systems and for that matter the vast majority of the software products were developed independently of each other. Why is that important, because each mathematical algorithm the systems use to make trading recommendations with is different.

Thus, some of the signals you will get from particular software systems are great and others stink. How are you going to know which ones make recommendations you can make money with and which ones are losers? Your not, unless you do what I have done and test them all out.

Back to Supra Forex now, it is one of the best software products on the market that will send you signals, trading recommendations or investment opportunities that will help you make money. It is as simple as that. Another plus to Supra Forex, is that it is also one of the most inexpensive software products you can buy.

If you are in the market for a currency trading system you could do a lot worse than Supra Forex. In my opinion, it is one of the top four products on the market today. Each and every day the markets are open I invest substantial sums of money based on the information it provides me. It only takes a few minutes to review these products and see what you think. In Supra Forex case, I am sure it would be a good use of your time.

We have researched, tested and reviewed 100's of Forex Trading Systems, Currency Trading Software and Forex Platforms. We kept the best and eliminated the rest for you to examine at Forex Trading Systems.

For the internets MOST comprehensive list of only the finest Currency Courses and Forex Trading Courses that provide the best Forex education online check out Learn Forex Trading at Trading Forex Reviews.Com.

foreign exchange

The vast currency market is a foreign concept to the average individual. However, once it is broken down into simple terms, one can begin to easily understand the foreign exchange market and see what a profitable avenue of income participating in the trading of Forex can be.

Whether or not you are aware, you already play a role in the foreign exchange market, also known as the Forex market. The simple fact that you have money in your pocket makes you an investor of currencies, and more particularly, an investor of U.S Dollars!

The cash in your wallet and money in your savings account are in U.S. Dollars. The value of your mortgage, stocks, bonds, and other investments are expressed in U.S. Dollars. In other words, unless you are among the few Americans who have foreign bank accounts or have bought a modest amount of foreign currencies or securities, you are an investor of U.S. Dollars.

By holding U.S. Dollars, you have basically elected not to hold the currencies of other nations. Your purchase of stocks, bonds, and other investments, along with money deposited into your bank account represent investments that rely heavily on the integrity of the value of the currency in which it is denominated the U.S. Dollar.

Due to the constant increasing and decreasing value of the U.S. Dollar and the resultant fluctuation in exchange rates, your investment portfolio may have experienced changes in value, thus affecting your overall financial status.

With this in mind, it should be no surprise that many shrewd investors have taken advantage of the fluctuation in exchange rates using the volatility of the foreign exchange market to trade currencies and put more money in their pockets.

The foreign exchange market has experienced many changes since its inception. For years, as you learned above, the United States and its allies, under the Bretton Woods Agreement, participated in a system in which exchange rates were tied to the amount of gold reserves belonging to the nation. However in the summer of 1971, President Nixon took the United States off the gold standard, and floating exchange rates began to materialize.

Today, supply and demand for a particular currency, or its relative value, is the driving factor in determining exchange rates. There have been many radical global economic changes over the last decade.

Some of these changes have decreased obstacles and increased opportunities in world trade, such as the fall of communism in the Soviet Union and Eastern Europe, the renewed political reform in South America and the continuing liberalization of the Chinese economy have boosted the worldwide economy by opening up new markets and opportunities. These events have lifted traditional trade barriers resulting in a tremendous increase in foreign investment.

With this increase however, all nations are more interrelated and dependent upon one another. Increasing trade and foreign investment have made the economies of all nations more and more interrelated.

Fluctuations in economic activity in one country are reflected in that country's currency and immediately transmitted to its partners, altering the relative price of products and thus affecting costs and profits, which in turn affect changes in currency values.

Regularly reported economic figures around the world, such as inflation or unemployment levels, as well as unexpected news, such as natural disasters or political instability, alters the desirability of holding a particular currency, thus influencing international supply and demand for that currency.

The U.S. Dollar, therefore, fluctuates constantly against the currencies of the rest of the world. The current web of international trade and the resultant fluctuations in exchange rates have created the world's largest market the foreign exchange market, a market whose vast size makes it the most efficient, fairest, and liquid of all markets.

The Interbank Foreign Exchange Market is an unregulated, decentralized international forum that deals in the various major currencies of the world, with virtually no direct government regulation or interference.

The Interbank Foreign Exchange Market involves trading one nation s currency for the currency of another nation. Foreign exchange, however, is not a "market" in the traditional sense since there is no centralized location for trading activity. It is an electronically linked world-wide network of currency traders dispersed throughout the leading financial centers of the world.

An international community of approximately 400 banks make the daily currency exchanges for buyers and sellers worldwide who conduct business linked by the Internet, phones, computers, fax machines and other means of instant communication.

Trading occurs over the telephone and through computer terminals at thousands of locations worldwide. The direct Interbank market consists of dealers with currency settlement capabilities trading as principals. It is this dealer segment of the market that is responsible for generating a large portion of the overall foreign exchange volumes.

Trading between dealers creates the largest turnover in the market, making foreign exchange the most liquid of all markets. Trading approximately $1.5 trillion every day, the foreign exchange market is the largest financial market in the world. Traditionally, the foreign exchange market has only been available to banks, money managers, and large financial institutions.

Over the years, these institutions, including the U.S. Federal Reserve Bank, have realized large gains via currency trading. This growing market is now linked to a worldwide network of currency traders, including banks, central banks, brokers, and customers, such as importers and exporters.

Today, the foreign exchange market offers opportunities for profit not only to banks and institutions, but to individual investors as well. A great advantage is the size and volume of the Forex Interbank market makes it impossible to manipulate the market for any length of time. Unlike the equity markets, no really effective "insider" interference is possible for any length of time in the Forex market.

As a result Forex is an action based, decentralized international market that allows various major currencies of the world to seek their true value. It operates as the purest form of supply and demand for currencies as a tradable commodity. This is why many analysts refer to it as the most efficient market in the world.

foreign exchange trading

Foreign Exchange Market, or Forex as it is commonly called, is an international exchange market to buy and sell different currencies from around the world. An investor has the ability to buy and sell these currencies in order to create gains from small movements in the value of one currency over another. The Foreign Exchange Market or Forex is open from Monday at 0:00 GMT until Friday at 10:00 GMT. For this reason Forex traders are not limited to the general time constraints of the New York Stock Exchange or NASDAQ.

This versatility attracts many investors to become Forex traders. The liquidity of the Foreign Exchange Market is also very attractive for the Forex investor as trades range from 1 to 1.5 trillion dollars on a daily basis. These massive amounts of trades make it extremely difficult for any one trader to affect the market.

Foreign Exchange Trading is simply the purchase and sales of currency based on the strength of the currency and the fluctuation in the value of that currency. For example, if one were to invest $1,000 against the British pound at 1.49989 with a 1% margin and anticipate the exchange rate to climb. If that occurs and you close the exchange rate at 1.5050 you would earn roughly $400. Forex is giving you a 40% return on your investment.

Forex offers the possibility of huge profits in relatively short periods of time. The stock exchange is very different in that positions are generally maintained over a longer period of time. Although there are day traders, Forex traders have much shorter hold times on positions. Similar to the stock market marginal accounts can be obtained in the Foreign Exchange Market as well.

Forex marginal accounts are very engaging as they allow Forex traders to take large positions without having to make a large deposit. In many circumstances one can fund a marginal account with .05% the necessary funds. In other words, $500 would allow a $100,000 position. In order to trade Forex effectively and profitably, one must have some type of method to follow. There are two methods used in determining what Foreign Exchange trades one should make. There are two methods, fundamental Forex analysis, and technical Forex analysis.

Technical Forex Analysis is the most commonly used practice and uses the assumption that the changes that occur in the Foreign Exchange Market happened for a reason and are accurate. The belief is that if a currency has been trading towards a high then that currency will mostly continue towards that high with the adverse being true as well. The technical Forex view does not try to make long term predictions about the market but instead simply tries to take advantage of what has already been seen in the past.

The fundamental Forex method takes into account all aspects of the country in which the currency is traded. Things such as the economy, the countries prime interest rates, war, poverty level, and other factors are taken into account. If there is a sharp rise in the prime interest rate a Forex trader may take a position based on that information.

Online Forex trading on the Foreign Exchange Market has the potential of being extremely lucrative. One can learn to trade by creating an online Forex Account and begin by using a learning account without real funds. This will help you to understand the Forex trading process and how currencies are affected by different things that are happening on a global scale.

THE SIGNIFICANCE OF PEAKS

The significance of a valid peak/
trough reversal will depend on the
type of trend. The longer the trend,
the greater the significance of the
peak/trough reversal will be. A series
of rallies and reactions that show
up on the hourly charts will be nowhere
near as significant as a reversal in a series of intermediate
peaks and troughs, where the rallies and reactions might
last for several months. If we observe a reversal in a series of
intermediate rallies and reactions, then we would be able to
infer a primary trend, where the expected decline or advance because the low was below the previous low. However, there

was no sign of lower peaks, since the mid-April high was the

high for the move. This is why it does not usually pay to go

with half-signals. It was not until early August that a rally 

peak did not make a new high, and this was confirmed with

a new low, signaling a new bear trend. I cannot say that things

will work out this well every time, because they will not.

However, it is surprising how well this simple tool can help

in improving trading results.

LINES OR CONSOLIDATIONS and WHAT’S A LEGITIMATE PEAK

Sometimes, reactions within a trend develop as a sideways
movement, where the price experiences a trading range.
Figure 4 shows some ranging action following an advance.
(The same could be said in a declining market.) These trading
ranges are also known as lines (as originally referred to in
Dow theory).
Whenever the price experiences a breakout from such a
trading range, it has the same effect as if the range were a rally
or reaction. This means it is possible for a breakout from a
trading range to either act as a peak and trough buy or sell
signal, or a reconfirmation of the prevailing trend. In effect,
when the price breaks out of a line (range), it is violating
Consolidation
takes 1⁄3 – 2⁄3
of the time of
the previous
advance
Consolidation
100% 33 – 66%
Retracement should be
1⁄3 – 2⁄3 of the previous
advance
100%
FIGURE 5: CONSOLIDATION. As a rule, consolidation will take from one-third to two-thirds the time of a
preceding advance or decline. But then —
FIGURE 6: RETRACEMENT. The classic retracement ranges between one-third
and two-thirds of the previous move.
New high!
X
FIGURE 4: HALF-SIGNAL. At X, a lower trough occurs, but subsequently, the high
is taken out and the alert for a downtrend is canceled. Half-signals are not as reliable
as full concordance of peak and trough movement.
several minor turning points that are really
support or resistance areas. Taken together,
they represent the equivalent of more significant
peaks or troughs.
WHAT’S A LEGITIMATE PEAK
AND TROUGH?
Most of the time, the various rallies and
reactions are distinct enough so that it is
relatively easy to identify their turning points
as legitimate peaks and troughs. A reaction
to the prevailing trend should retrace approximately
one-third to two-thirds of the
previous move. Thus, the rally from the
trough low to the subsequent peak in Figure
5 is 100%. The ensuing reaction should then
fall between a one-third to two-thirds correction
or retracement of that move; on
occasion, it can reach to 100%. Technical
analysis is far from precise, but if a corrective
move is less than the minimum one-third, then the peak
or trough in question is suspect.
A line is a fairly controlled period of profit-taking or
digestion of losses, so the depth of the trading range may fall
short of the minimum approximate one-third retracement
requirement (Figure 6). In such instances, the correction
qualifies more on the basis of time than magnitude. It is
important to note that we are dealing with psychology here —
in this case, the bullish psychology associated with the runup
in prices. That sentiment needs to be tempered, either with a
price reaction or with time.
A rule of thumb you might want to use is for the correction to
last between one-third and two-thirds of the time taken to
achieve the previous advance or decline. In Figure 5, the time
length between the low and the high for the move represents
100%. The consolidation prior to the breakout constitutes roughly
two-thirds, or 66% of the time taken to achieve the advance —
ample time to consolidate gains and move on to a new high

HALF-SIGNALS

On occasion, we are left in doubt

whether a trend has reversed. In

Figure 3, we see that at point X

the latest trough breaks below

its predecessor, but not the latest

peak — and only half a signal

has been given. What is now

required is for a fresh rally to

peak below the previous top and

for the price to slip below the

previous low at point Y. This is

a much less timely signal because

the price will have already

fallen from the final high; but by

the same token, the probabilities

of it being a valid reversal

are that much greater. Anyone

not waiting for the signal at Y

would have run the risk of being

left out of a powerful rally such

as the hypothetical one shown

in Figure 4. In that instance,

prices rose and made a new peak,

indicating the trend had never

reversed in the first place. Halfsignals

also appear when a trend

reverses from down to up.

Peak and trough analysis

should be treated as only one

indicator among many in a technical

arsenal. You would not

normally rely solely on a moving

average crossover, oscillator

signal, or trendline violation

to justify entering a trade; similarly,

peak and trough should be

used in conjunction with other

indicators.

The difference with peak and

trough analysis is that indicator

for indicator, it generally offers

a stronger signal than most trendfollowing

techniques. This is

because technical analysis is

very much concerned with the

psychology that underlies price

movements. The fact that a reversal

from a downtrend to an

ANDREW

Peaks And Troughs

The oldest ways of chart analysis had to work in the days

before computers (B.C.). There’s no reason they shouldn’t

work now. Here’s a look at peaks and troughs, a classic form

of chart analysis that worked B.C. and work now.have always thought that, in

general, the simplest techniques

work the best. High up

in this category, and perhaps

the most underrated, is the concept

of peak and trough analysis,

a technique first brought to

our attention as a tenet of Dow

theory. While the theory itself

has lost much of its luster in

recent years, the peak and

trough part of it has not. It is arguably the most important

building block of technical analysis.

When you look at almost any chart, it’s fairly evident that

prices do not go up and down in straight lines, but move in

zigzag patterns instead. During a bull trend, a rally is interrupted

by a correction in which part of the advance is retraced.

This is then followed by another rally, after which a subsequent

correction follows, and so on.

These are the peaks and troughs. As long as a trend

experiences a series of rising peaks and rising troughs, it is

considered to be intact. However, when the series of rising

peaks and troughs is replaced by a series of declining peaks

and troughs, the prevailing trend has reversed.

Figure 1 shows a series of rising peaks and troughs. When

a subsequent rally fails to make a new high for the move (A),

this alerts us the trend may have changed. It is not until the

price slips below the previous bottom (B), however, that the

price action reveals a declining peak and trough. The trend,

according to this technique, is now deemed to be bearish.

In a bear trend, prices continue their downward zigzag

(Figure 2) until the latest trough fails to make a new low for

the move (C). The subsequent rally takes the price above the

previous high (D), and the series of declining peaks and

troughs gives way to a series of rising ones. The actual signal

takes place at E, when it is evident that the price has made a

new high. At that point, we do not know where the next peak

will occur, but we do know it is likely it will be higher than the previous one.As you can see from the price

action at point F, there is nothing

to stop the price from falling

below the trend reversal signal

(E), but pricing will still be consistent

with a rising trend.

CONCLUSION

Finally, another important aspect is the closing tick index reading. I have found that closing tick readings exceeding

+750 are evidence for a potential short-term top. Closing tick readings of +1,000 or more almost always define a

short-term top.

Technically based traders have multiple tools to work with. Some are very complicated while some, such as the tick

index, are simple; some are very well known, while others languish in obscurity. Probably one of the least known is

the tick index - which may be why it works so well.

VARIATIONS

The two reversal patterns discussed do not occur often, so I watch for some variations. First, tops do not necessarily

occur the same day of the extreme high tick reading. If the market is going to make a top, then the day after an

extreme uptick reading is recorded is important. Generally, another high tick reading is recorded following the peak

reading of the previous day. The second day's trading high may exceed the first day's high by more than two and a

half S&P points, and a bearish reversal candlestick pattern (Figure 7) will appear. This condition usually triggers a

short-term sell signal.

In the case of a bottom, after an 800 or higher downtick reading is recorded, the next day the tick reading should

again be at extreme levels. The second day's trading low may exceed the first day's trading low by more than two

and a half points. At that point, watch for a bullish candlestick pattern to appear (Figure 8) for a confirmation of a

buy signal. For bottoms, I noticed that the second downtick reading can be less than or greater than the first bottom

downtick reading. For tops, however, the second top's high uptick reading is less than the first top's.

In runaway markets, the tick index readings will exceed +600 for rallies and -800 for declines for extended periods.

When the difference between the open and closing range for the day exceeds two S&P points, the trend is still intact,

even though tick readings may have reached the upper limits of +600 for tops and -800 for bottoms. This price range

represents the body of a candlestick chart.

No turning point in the market can be anticipated until the difference between the opening and closing price on the

S&P contracts narrows to less than two S&P points, no matter how high the tick readings. In Figure 5, on

November 21, the S&P broke down, ending a consolidation pattern, with a tick reading of -1,070 recorded. No

bottom was anticipated because the body of the candlestick chart for that day was more than two S&P points. The

next day, November 22, a tick reading of -1,340 and the same condition prevailed. On November 23, a -800 tick

reading was recorded and the difference between the opening and closing price was less than two S&P points. This

condition would imply a short-term bottom. You can see on Figure 5 that this is exactly what happened.

HISTORY

Tops in the stock market generally occur with readings of +600 or more. As a rule, the more the tick reading exceeds

+600 intraday, the stronger the top. Some of the highest intraday uptick readings for trading days in 1994 can be

seen in Figure 3. You can compare these tick readings and the price action of the S&P cash index by looking at

Figures 4 and 5

Near significant bottoms, such as the 1994 dates of March 2, April 4, June 24, October 5, November 22 and

December 8, the NYSE tick index readings equaled or exceeded -1,100 intraday (Figure 6). Therefore, when tick

readings exceed -1,100, a buying opportunity may be near. For example, leading up to the April 4th time frame - an

important market bottom - the extreme three-day cumulative average negative tick readings were as follows: On

March 30, a -1,450 tick was recorded; on March 31, a -1,460 tick was witnessed; and the reading for April 4 was a

-1,450 tick. The average downtick reading for those three days was -1,453, which was the highest three-day average

for 1994. You may recall April 4 marked the low of the year.

Extreme tick readings do not necessarily mark significant turning points. Sometimes they appear at the start of a

consolidation pattern instead of a top or a bottom. For example, in Figures 4 and 5, on February 4 and November 4,

-1,380 and -1,140 tick readings were recorded at 468 and 462.50 on the S&P cash index, respectively. February 4

and November 4 were temporary bottoms; the market went sideways for a couple weeks before breaking down to

new lows. Negative tick readings exceeding -1,100 did stop the decline, but the resulting condition was a short-term

bottom that evolved into a consolidation pattern. Thus, when an intraday downtick reading of -1,100 or more

appears, it may be wise to tighten your stops and watch to see if a bullish candlestick pattern develops.

TECHNIQUE

First, a high degree of coincidence appears to exist between bullish tick index signals and bullish candlestick patterns

as well as the bearish combinations. For bullish patterns, I have found tick readings exceeding -800 intraday (the

minus sign indicates 800 more stocks were trading on a downtick than an uptick) appear near short-term market

bottoms.

Second, I look for a classic double bottom on the Standard & Poor's 500 daily chart where the second bottom of the

double bottom does not trade more than two and a half S&P points below the first. The tick index reading on the first

bottom must surpass -800; in fact, readings exceeding -800 are preferable. The tick index reading for the second

bottom can be greater or less than the first but should still reach an extreme level. When the tick index readings

exceed -800, preferably a reading of -1,000 ticks or more, the short-term bottoms are stronger. In addition, when the

second bottom is within five business days of the first, the signal generated is more reliable. Finally, with the buy

signal alert indicated by the tick index, I look for a bullish candlestick pattern before an all-out buy signal is

generated. For a sell signal using the NYSE tick index, I look for a double top on the S&P 500 daily chart where the second top

does not exceed the first by more than two and a half S&P points. The first top must have a tick reading of at least

+600 or more. The second top will usually have fewer uptick readings than the first, but the readings should still be

high. For a sell signal, a bearish candlestick pattern must be present at or near the second top. The best signals occur

when the span between the first peak and the second peak of the double top does not exceed five business days. 

The NYSE Tick Index And Candlesticks

Awealth of information waits to be discovered in the New York Stock Exchange (NYSE) tick index. Its strong

suit is its simple calculation. At any point, this index represents the number of stocks trading on an uptick minus the

number of stocks trading on a downtick. Extreme tick readings of greater than +600 may indicate temporary

exhaustion of buying power, while negative tick readings in the territory of 800 or more can point to a selling climax.

I use these readings throughout the day as an indicator for buy and sell decisions, as well as for recognizing the

continuation of the prevailing trend. The tick index is broadcast throughout the day from most real-time data vendors,

including the stock market tape that can be seen on the bottom of the screen during CNBC's day-time broadcast.

The tick index can be enhanced by using technical price pattern recognition, specifically candlestick charts. (See

sidebar, "The candlestick method.") Although I have used numerous other technical studies, combining the NYSE

tick index and candlestick charting creates a reliable indicator for signaling turning points in the stock market.

CONCLUSION

By using real-body support and resistance levels, we can try to improve our trading and analysis on several levels. In

the short term, we can derive important counteraction trading points and improved longer-term entry levels. In the

longer term, we can use real-body support and resistance to get a jump on market breakouts in a trend-trading

strategy.

Let me reiterate: Candlestick charting should not be used in a vacuum. That applies to the real-body support and

resistance levels as well. You should, however, take the time to try out this methodology. I'm sure you'll find it

worthwhile, and a beneficial addition to your technical toolbox. It just goes to show that by keeping our eyes open,

we just might be able to discover new techniques.

John Forman is a currency analyst for Technical Data, a provider of real-time and day-end market commentary and

trading advice over the Telerate system. He writes mostly from a technical perspective and also has experience in

trading US and Canadian government cash and futures issues, equities and the energy markets.

A REAL-LIFE EXAMPLE

Figure 3, which shows the sterling/Deutschemark cross-rate, contains several excellent examples. You can see how

many times prices either approached or penetrated real-body support and resistance points but were unable to sustain

those levels. Time after time, an attentive trader could have entered positions counter to the prevailing market action

and would have done well. There are two noticeable exceptions, however.The first came in late December 1994, when the market finally broke down out of its range. Two things should have

been noted that might have kept you out of a trade. One is the double top, or tweezers pattern in the candlestick

vernacular, which took place about 10 days prior to the breakdown. That would have been your first indication that

the trend was probably toward lower prices. The second indication came two days before the breakdown in the form

of a shooting-star pattern, followed by a large negative real-body candlestick. This was another signal of lower

prices.

The second exception was in January 1995, when the market again broke down after a consolidation. This, too,

probably could have been avoided. All indications were signaling a bearish trend. That should have kept the careful

trader from trading the doji day just prior to the breakdown. The doji, however, might have caused some confusion.

In addition, look at how taking those positions against the prevailing action is a great way to enter a new longer-term

position. One glaring example of this took place early in January 1995, just before the second breakdown. After

rallying for three days, the market approached, but never broke, real-body resistance. Prices did not stop falling until

they were about 600 points lower, less than a week later.