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Forex London Network

Posted by on Apr 1, 2014 in Events, Featured, Learning to Trade?, Market News, Uncategorized

Forex London Network

Profit and Loss are a company that specialise in financial markets and business and technology information. They also hold forex events throughout the world and there just so happens to be one in London later this month. Personally, I thoroughly enjoy going to events such as these. Hearing expert opinions while meeting other traders from the Forex London Network is a great way to spend the day. On Wednesday 23rd April 2014 Profit and Loss have secured some fantastic speakers and a great variety of subjects for them to speak about. The sessions are as follows: – Better Execution: Do best execution rules reflect the changing market structure and modern technology available? – FX Options, The Year We Find Out: Is 2014 the year the ‘new’ options market evolves? – Vision of the Future: How do service providers react and adjust? How will the industry build an efficient structure for the next decade? – New Channels, New Challenges: What are the pros and cons of new trading medians and how does the market infrastructure need to adapt to cope? – Think Tank: Lit, Dark or Dusky? The future of the marketing model. The speakers we are most looking forward to are Joanthan Wykes and David Holcombe. Jonathan Wykes is the head of e-FX sales, EMEA and the global head of FX Algo Sales at Bank of America Merrill Lynch. He will be one of the speakers throughout the better execution session. We are keen to hear his experience of when he was a key player in advancing the execution services Algo product from equities into FX. David Holcombe is the senior MD, FX, Nadaq OMX. David will be speaking about the future and challenges of technology and how existing services will evolve. What Forex events are you looking forward to this year? Leave us a comment and let us know or get in touch via Twitter, also follow the event by using the hashtag #ForexNetworkLondon and check out @Profit_and_Loss Twitter...

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Spring arrived this week

Posted by on Mar 10, 2014 in Featured, Market News, Uncategorized

Spring arrived this week

You may have heard that the British spend a lot of time talking about the weather. It’s true. But there is another nation that beats us on this score, the USA. In my view, they spend more time discussing the weather in the USA. They even have a dedicated weather channel on TV. Anyone following the US weather will be aware of their big winter freeze this year with exceptionally low temperatures. In her recent testimony to Congress, even Janet Yellen spoke of the impact of the freezing weather on economic activity in the USA. She mentioned that more data is needed as it is difficult to quantify the impact. When spring arrives, our collective mood improves and we feel more positive. The days are getting lighter, the weather is kinder and plants burst into growth. There is an impact on the economy as we head out and spend more. If people have to dig their way through snow drifts and fight off polar bears at the end of the street, they are hardly likely to be out there spending money and driving the economy forwards. Having said all that, the first green shoots of spring arrived this week. And they came from a surprising source – Europe. In his press conference on Thursday afternoon, Mario Draghi referred to the more positive data coming from Europe. Just the mention of growth caused the Euro to leap in value against the US Dollar. With spring arriving in Europe, it was only a short time to wait for the US figures (NFP) on Friday. Evidence from January and February suggested these figures were going to disappoint and the US economy was running out of steam. The dollar sold off again early on Friday giving a further opportunity to profit ahead of the figures. I was watching a trade in the market some 20 minutes ahead of the figures, I detected some buying of the US Dollar, not what I was expecting. As a trader, I am there to act on evidence though. It was this early buying that led me to close my Euro trade for a profit. At that time, I said to a fellow trader that I felt these figures are going to be better than the market expects. Nice when your gut feeling is right. Come the NFP announcement, the figures were better than expected and the previous month’s figures were revised upwards. Buy the dollar. It was an apt reminder that spring always follows winter. After the severe winter in the US, it was inevitable spring would arrive sooner or later. Following in Europe’s footsteps, the US NFP figures announced that spring arrived this...

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My 5 Favourite Traders

Posted by on Feb 24, 2014 in Featured, Learning to Trade?, Uncategorized

My 5 Favourite Traders

It’s always interesting to see the trades that other people are making and the advice that they are giving. Here are my 5 favourite traders on Twitter at the moment, please note they are in no particular order.   The first is @MWellerFX. Matt Weller is a global market strategist and has been actively trading since 2005. Enthralled by the liquidity and the accessibility of the market, Mr Weller now offers timely updates on a vast range of currency pairs. Follow him now for great guidance.   @break_retrace3. Howard Friend also offers information on his trading activities, giving information about the time he sells and exits the market. Having been in financial markets since 1988 his information on currency pairs is definitely to be taken into consideration.   @forexfortress offers followers information on short and long trades on a number of different currency pairs – always advising users on when to get out. Good luck and good trading! Another of my favourite traders is @optionalpha. Kirk Du Plessis offers a great variety of content not only on the foreign exchange market but also on current affairs. His tweets include relevant blog posts and great quotes. Last but by no means least we have a personal friend of mine @FXTraderPaul. Paul Walas (surprisingly no relation) offers frequent updates on the forex market and stock exchange (mainly gold), when you have a spare 5 minutes take the time to read his great blog too. So there you have it my 5 favourite traders at the moment. Who do you love to follow? Leave me a comment and let me know, or get in touch via Twitter...

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