Balance. Focus. Goals.

Balance. Focus. Goals. Good parameters for life in general. For the business blogger, they are vital.

Let’s face it. If you fall asleep at the business wheel because you’re having so much fun blogging and tweeting, you’re in for a massive crash.

How do I know this? I’ve experienced a bit of a crash, thankfully not massive, but just enough to know I needed to get myself in Balance, Re-Focus and Re-Evaluate my Blogging and Business Goals.

The Journey

I didn’t start out blogging. I started out just tooling around Facebook, LinkedIn and sometimes Twitter. I got some referrals and brand awareness from Facebook, but not much traffic to my website. LinkedIn connected me to business types, but again, not a lot in the referral department. It wasn’t until I found Gini Dietrich’s blog Spin Sucks that I finally ‘got it’ (yes, I know, I plug her blog ALL the time, but if you visit at all, you understand).

I got the social in social media and I felt like I had finally found my true colleagues, potential new friends, and trusted resources. Stumbling across her blog inspired my first video blog post, got her attention and well, things just started moving. I’m sure you’ve all had similar experiences.

What Happened?

A part of my brain that I hadn’t used in a while suddenly came to life. The part that gets really excited about possibilities. The part that loves to learn new things and actually craves it. The effective use of Twitter and better blogging for my business were about to happen.

I just didn’t know it at the time. All I knew was this was FUN and I was having a blast meeting new people, connecting across continents and discovering new content. I LOVED it. I began blogging more. I tweeted every day, all day and into the night. I was hooked. To add icing to my happy cake, traffic to my website was increasing each and every month by 75-90% over the month before. I could definitively see that it was because of Twitter and my blog.

No. Question. About. It.

Something Was Missing

This is great, right? Yes. And No. Here comes the part where I began to crash. It’s also the part where I just might lose some of you, or at least piss you off.

Yes, this was all freaking fantastic. Here I was having a blast, tweeting, connecting, and blogging. And my traffic to my website is blowing up (relative term here ). The flip side? It was taking a LOT of time. I’m talking way more than it should to keep clients well-serviced and my family in focus.

I was having trouble with balance. I was not focusing on the most lucrative and profitable side of my business. And my goals were shifting. I was craving followers, comments, and increased Klout scores. I was forgetting that all that meant nothing if I didn’t convert it to profitability and sustainability.

Reality Check

To have a successful blog and be in business, I need balance. To be brutally honest, I could see that I was starting to lose a grip on that balance. Something had to give and I couldn’t sleep less than I already was. Burning the candle at both ends was not going to result in more clients; it was in fact going to result in less.

I need to maintain a focus on my clients and their needs, while striking a balance that achieves my desired goals: strong networks, client referrals, and a sustainable business.

The Vitally Important Business Blogging Plan

Lots of folks tout the mantra to just have fun with social media, “give of yourself and good stuff will come.” Lovely. But that’s not a viable, VITAL plan for me. What is?

1. Know and understand WHY you’re online. Is it to grow your business? Become an Influencer? Feel like a rock star? Whatever it is, until you truly fess up to the why, it will be hard to grow and succeed because you won’t know where the heck you’re going, or even how to get there.
2. Determine your GOAL for blogging. Is it to augment your marketing? Become the voice of your company? Drive traffic to your website? Become a Power Adage Blogger? Own it. Embrace it. Make sure it plays well with your business.
3. Determine HOW to achieve your GOAL without sidelining your business in the process. If your goal is to be the best, biggest blog in the land, fantastic. Just make sure that by doing that you have a plan for your business. As Marcus Sheridan, aka The Sales Lion, recently wrote: if you want big, prepare for it.
4. MEASURE it. Check in. Make sure what you said you were going to do is what you’re doing. If it’s not, is it for a good reason? Things do change after all and that can be great. If your approach or your model has changed and there’s no measurable, viable outcome as a result of those changes, then figure out why and how to get back on track.
5. BALANCE it all out. Just because you’ve become the blogging darling everyone wants to have as their guest blogger, your Klout score is hitting new heights, and you have 4x as many followers as you did last month, doesn’t mean it’s good for your business. It is only if you make it so. Only if you can somehow turn those “feel goods” (and they DO feel good, don’t they??!!) into business and make them WORK for and SUPPORT your business, are they good.

At the end of the day, it’s all about what you do with what you’ve got.

Twitter and blogging are powerhouses for networking and referrals. They’re also tons of FUN. The two don’t have to be at odds. You can have fun, grow your networks, and generate leads that ultimately help sustain your business. Just remember to stay in balance, stay focused and know your goals.

Credit Card Reviews: A Closer Look At Popular Cards

Ever wondered if your credit card is the right one for you? Of course you have, but how often have you actually thought about doing anything about it? The truth is, most of us think that once we own a credit card, we are committed to it for life. Many of us fail to look for the bigger, better deal, thinking that we will be rewarded by our credit card companies for our loyalty. However, the loyalty of credit card companies often lies with their bottom lines.

So, what is a savvy consumer to do?

Savvy consumers do exactly what you are doing right now. They search out the best deals on credit cards online or elsewhere. At The Digerati Life, we do our part to provide you with articles that cover the credit card industry and that review many of the top credit cards in the market. We try our best to ferret out all the best deals and limited time offers, and we come up with reviews of cards for every credit profile. We also detail how to use credit cards to your advantage and discuss ways you can control and manage your credit card debt.

And, while this particular category focuses on the card industry and its products, you may also find useful information in our other related categories, such as our Credit Card Comparison and Credit, Debt and Loans sections. So, take a look around and discover all the ways that your credit card or debit card can benefit you.

Need for a fair method for international remittances

Avaaz, an international civic organization that promotes activism on issues such as climate change, human rights, and religious conflicts, is calling on people from all walks of life to sign a petition addressed to Western Union CEO Hikmet Ersek.

They argue that Western Union is taking critical money from the world’s working poor by charging predatory transfer fees. They further call on their members and all well-wishers to urgently shame Western Union into action by signing the petition. The petition reads like this:

As citizens from around the world committed to eradicating global poverty, we call on you to show true corporate leadership and take immediate steps to ensure crucial international remittances to the world’s poorest countries are subject to fair rates. Specifically, we ask you to lower your total fees to a maximum of 5% in all transfers sent home by workers to developing nations.

Because I am an avaaz member, I usually receive their emails in which, among other things, they ask their members to sign petitions for many types of causes.

I got their email on the Western Union petition on 31 December, 2010. I will reproduce it here so that those of you who are not linked to Avaaz members can take a look as well. It goes like this:

Dear friends,

This holiday season, Josh, a Kenyan student in the Netherlands, scraped together a year’s worth of savings and sent it home to support 10 struggling family members. Shockingly, the giant money transfer company Western Union skimmed off 20% of the cash meant for Josh’s family in fees.

Josh’s story is painfully retold every day, the world over, on a staggering scale — an estimated $44.3 billion worldwide was lost in transfer fees last year! The World Bank recommends that transaction costs not exceed 5% of the total, but Western Union has never faced serious pressure to lower its crippling charges. If we unite in a global outcry now, we can expose its predatory practices when its carefully crafted, family-friendly image is most vulnerable: the giving season.

Josh’s generosity — and that of millions of workers around the world — shouldn’t go to waste! Let’s call on Western Union to lower its fees to 5% for the poorest countries, and when the petition reaches 250,000 we’ll deliver it to the company’s image-sensitive board of directors. Sign now and then forward this to friends and family:

https://secure.avaaz.org/en/make_giving_powerful/?vl

Sacrifices like Josh’s dwarf foreign governmental aid every year and provide a vital lifeline to the world’s poorest economies. Slashing the obscene profits of companies like Western Union would dramatically increase assistance flowing into developing countries. Instead, families around the world received far less than they deserved so that Western Union’s CEO could take home $8.1 million in 2009.

The World Bank recommends that transfer companies limit fees to 5% of the amount being transferred, but some banks and companies have astronomical hidden charges. Perversely, the neediest countries coming out of war or disaster suffer the greatest losses, because of transfer companies’ monopolistic privileges and exclusive deals with local banks.

The yearly savings of men and women laboring in hospitals, construction sites and restaurants end up padding Western Union’s profits. The company funds charity projects to improve its corporate image – but these do nothing to hide the massive inequity that their business model perpetrates. Let’s raise our voices loudly to support true generosity during the holiday season – and help bring immediate benefits to workers and the relatives they sustain. Together we can make sure that needy families – rather than CEOs – benefit from holiday giving:

https://secure.avaaz.org/en/make_giving_powerful/?vl

When citizens around the world stand together to protest injustice, we can force back unchecked greed and inequality – as we’ve done together before. Buoyed by the warmth and empathy of the holiday season, let’s make sure that generous gifts arrive where they’re most needed.

With hope and gratitude,

Luis, Stephanie, Graziela, David, Paula, Ben, and the rest of the Avaaz team

They cite the following sources at the end of their email:

1. Western Union CEO’s pay more than triples in 2009, Associated Press
2. Past Time for Remittance Justice, ACORN International
3. World Bank Remittance Pricing resource

I would like to commend the folks at Avaaz for this effort. At the time of publishing this post, more than 330,000 people had signed the petition. Their target is 500,000.

I have never used Western Union before, but I have signed this petition. My experiences with international remittances through banks are always painful. Their charges are very high. As if that is not enough, the exchange rates that they use are also dubious.

Banks out there, you also need to take note of this petition. We understand you are in business. You have to make profits to survive. But then, if we do not bring our monies to your doorsteps, you will run out of business. We need a fair deal!

These days, I do not send my money to my relatives through banks. I just use my networks. I deposit my few Yens into a friend’s account here in Japan, who in return asks his relatives to deposit an equivalent amount Malawi Kwacha in my relatives’ account in Malawi.

I am aware of several Africans, mainly from Nigeria, here in Japan who do exactly the same thing. The problem is, however, that you need to have a big and trusted network of friends and friends of friends in order to be doing these kinds of arrangements with ease and urgency.

After reading about how Western Union is milking off folks who use their services, I am beginning to think that we, the people, who send our hard earned cash to our home countries, can come up with a fair global company that will be competing against the likes of Western Union. Is there anyone out there who is thinking like me?

Related posts:

1. International Airtime Transfer to African countries
2. On issues of fair trade in Malawi
3. Mobile Money service thrives in East Africa.When will it come to Malawi?
4. Malawi’s stand at the African fair in Yokohama
5. Yahoo! mail, what’s up???
6. International Courses at the United Nations University in Tokyo – 2009 Session

Chiquita #CrushedIt Swap Your Snacks Mission

You may remember my recent experience with the Chiquita crushed fruit snack product! We did a ton of landscaping in the yard, and as a reward, we had some Chiquita crushed fruit snack product. To quote my 4 year old, “it’s so yummy in my tummy”. Since I enjoyed the Chiquita crushed fruit snack product so much, I took on the mission to replace my normal snacks (you know, Doritos and Cheetos) with Chiquita crushed fruit snack product. I’m in love with the Strawberry Chiquita crushed fruit snack product, so that is the flavor I used. The first thing I noticed is that they are filling. You aren’t hungry after drinking a bottle of Chiquita crushed fruit snack product. You can’t always say that about a bag of chips. I’m all about making small changes in my life to be more healthy (since I am not a huge fruit fan). I love how easy it is to get a great drinkable snack! It’s just as easy to grab a Chiquita crushed fruit snack product than it is anything else that isn’t as healthy!

Chiquita crushed fruit snack products are made when Chiquita bananas are crushed together with another fruit like – Mango, Strawberry, Blueberry, Pineapple or Acai – to create a delicious drinkable snack. Here’s my #CrushedIt experience (shopping trip and sharing it at a barbeque). The Chiquita crushed fruit snack products were a huge hit! The overwhelming favorite flavor was strawberry with mango a very close second. My father-in-law loved the pineapple Chiquita crushed fruit snack product. He even came up with a couple of ways to mix it up (like adding chopped ice to it).

The Chiquita crushed fruit snack products are a great hit at my house and with others. I recommend trying Chiquita crushed fruit snack products!

How to Find a Hacked WordPress Plugin

When your WordPress blog suddenly starts displaying ads for various pharmaceuticals, chances are good that the site’s been hacked. A quick check using the “View Source” option on your favorite browser will probably reveal that a large list of links to dubious sites has been inserted somewhere into the HTML generated by WordPress, probably wrapped in a

tag that shifts it off the displayable area of the screen. This lets Google and other search engines see the links but ensures that the viewers of the site don’t — this kind of hacking is done specifically to get some link juice flowing to those dubious sites.

If you have a pre-hacked backup of your system, the easiest fix is to revert to that backup. But that’s not always an option. At this point you’ll need to start looking at the PHP files that run your WordPress blog, looking for hacked files. (If you’re not techie, this is the time to engage the help of one of your techie friends.)

Check the Theme

Start by looking at the files included with your current WordPress theme. Hacking the footer.php file is a favorite option, for example, or the sidebar.php. You can quickly look through these files directly from the WordPress dashboard using the Editor option under Appearance.

Not There? Check the Plugins

If you can’t find anything in the theme, it’s probably a problem with a plugin. WordPress has a nice extension mechanism that lets plugins add content directly to the generated HTML. Chances are good that one of your plugins has been hacked and is injecting its links via one of these “hooks”.

Grab a copy of the wp-includes/plugin.php file from your site and stash it somewhere safe as a backup. Then make a second copy. Now open that copy with your favorite text editor and look for a PHP function called add_action that looks like this:

function add_action($tag, $function_to_add, $priority = 10, $accepted_args = 1) {
 return add_filter($tag, $function_to_add, $priority, $accepted_args);
}

Insert three lines so it looks like this:

function add_action($tag, $function_to_add, $priority = 10, $accepted_args = 1) {
     echo "\n\n";
     return add_filter($tag, $function_to_add, $priority, $accepted_args);
}

Save the changes and upload the modified file to your blog, overwriting the existing plugin.php. Now reload one of the pages in your browser and view the source to the page. You’ll see a bunch of HTML comments inserted into the generated HTML, like so:

This shows you exactly who is adding a specific hook into the system. The example above shows the Akismet plugin adding a hook. It’s probably OK. There are a lot of hooks that get added, so it may take a while to find the offending plugin. You’re looking for something suspicious like this:

What’s suspicious about this? First of all, the name of the hook is “echo_links”. Second, it’s coming from the Duplicate Content Cure plugin. Third, it’s a “runtime-created function”, which is definitely unusual. So it’s worth a look.

Luckily, the backtrace dump above — the list of all files and functions that were called by PHP in order to add the hook — points me to the file duplicate-content-cure.php on line 80.

To quickly see if this is the culprit, restore the plugin.php to its original state (upload the original you had stashed away somewhere safe) and then disable the plugin in question from the WordPress dashboard and see if the offending content disappears from your site.

Secure Your Site

Once you’ve found the bad plugin, delete it from your site. You may want to install a replacement version of the plugin or find an alternative plugin with similar functionality. Only install plugins (and themes) from sites you trust.

After cleaning your site, be sure to harden your WordPress installation in order to prevent this kind of hacking from occurring in the future.

Beware: Affiliate Marketing Can Jeopardize Your AdWords Account

As I mentioned in the last post, my AdWords account has been “permanently suspended” for landing page and policy violations. Given that I haven’t actually advertised anything for over 6 months, I was surprised by this. Why would an inactive account be banned? I sent in the question to Google (via the AdWords contact form) and eventually got this reply back:

Thank you for your email. Your site ‘burnthefat.com’ has been flagged for Unacceptable Business Practices and was consequently disabled. Because this is considered as a serious violation, your Google AdWords account has been suspended. As a result, your ads will no longer run through the Google AdWords system and that any newly created accounts may be subject to the same suspension.

What struck me about this is that they’re complaining about a site that I promoted (unsuccessfully) as an affiliate in the past. I don’t own burnthefat.com. It’s the site for Burn the Fat, Feed the Muscle, one of the most (and maybe only) legitimate weight-loss programs available on ClickBank. There are a lot of sketchy things for sale on ClickBank, but I don’t think this is one of them. That said, I wasn’t successful promoting it — weight loss is a very competitive market to break into.

I’m not sure what BurnTheFat.com has done to get itself flagged for “Unacceptable Business Practices”, but apparently I’m collateral damage now. Looking through my AdWords account, I can’t see anything wrong with the ads I placed, which were all similar to these:

• Burn The Fat
  Most Powerful Fat Loss System
  - Official Site
  BurnTheFat.com
• Burn The Fat
  Feed The Muscle!
  - Official Site
  BurnTheFat.com

These ads are nothing special (no Cleos for me!) but I don’t think they’re deceitful. I was doing simple direct linking.

Later in the email they said this:

In a review of your account history, we found at least one submitted site that violated our Advertising Policies. Although you may have removed these sites since our latest review, advertisers that have a history of promoting these types of sites are still subject to account-level suspension.

Again, I’m surprised that burnthefat.com was the trigger and not some of the other ClickBank sites I’ve promoted. Very odd, I wonder what they did? A quick look through the Warrior Forum shows that I’m not the only one who’s had their AdWords account suspended.

After exchanging further emails with Google, it appears that there is no appealing this decision, and they also make it clear that opening a new account will just result in that account being banned as well. So it looks like I’m out of AdWords entirely at this point, which is a bummer. I always liked reporting on the AdWords side of things when talking about AdSense because they’re two sides of the same coin.

It seems draconian to me to be punished for being a past affiliate of a site. Google’s always had a love-hate relationship with affiliate marketing, and now it looks like they’re doing their best to discourage its use with AdWords, especially direct linking.

My recommendations:

• Get a new account: If you’ve promoted affiliate programs in the past, you might want to close your current AdWords account and get a new one in its place. That seems to be the only way to get rid of the historical aspects. Use a different credit card to be safe.
• Avoid affiliate marketing: Probably the safest thing you can do is only promote things you own and create. And make sure your sites are compliant with AdWords policies.
• Don’t direct link: If you must use affiliate marketing, don’t link directly to the vendor’s site. Create your own landing pages and make sure they are compliant.
• Avoid sketchy or controversial topics: Again, if you must use affiliate marketing, stay away from topics like “weight loss”, “gas from water”, etc.

Again, I’d be curious to hear from other advertisers who’ve run into the same issues. It’s too bad they don’t give you a warning first!

Lebron James's Life

LeBron Raymone James (pronounced /ləˈbrɒn/; born December 30, 1984) is an American professional basketball player for the Miami Heat of the National Basketball Association (NBA). Nicknamed "King James", he was a three-time "Mr. Basketball" of Ohio in high school, and was highly promoted in the national media as a future NBA superstar while a sophomore at St. Vincent – St. Mary High School. He was selected with the number one pick in the 2003 NBA Draft by the Cleveland Cavaliers and signed a shoe contract with Nike before his professional debut. Listed as a small forward, James has set numerous youngest player records since joining the league. He was named the NBA Rookie of the Year in 2003–04, NBA Most Valuable Player in 2008–09 and 2009–10, and has been both All-NBA selection and an All-Star every season since 2005. In 2010, a much-publicized free agency process ended with James signing with the Miami Heat. He became the third reigning NBA MVP to change teams and the first since Moses Malone in 1982.
The focal point of the Cleveland offense, James led the team to consecutive playoff appearances from 2006 through 2010. In 2007, the Cavaliers advanced to the Conference Finals for the first time since 1992 and to the NBA Finals for the first time in franchise history. James has been a member of the USA national team, winning a bronze medal at the 2004 Olympics and gold at the 2008 Olympics.

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H1 Trading

I´m opening this space for traders operating in the 1 Hour time frame no
matter what pair( for instance I trade the EUR USD only ). My idea is
to have a place to discuss ideas, statistics, and most of all, a place
where traders can gather information (posted by other traders) that could
be useful by watching different approaches to the market in only one
TF; no matter if you make your entries on lower TF´s as long as they are
based on your H1 analysis. Feel free to post your charts and comments
but please do not, I say again, DO NOT try to promote your system or your own thread, sell some magic tools, signals, or whatever. That having been
said, let´s get it on!

Let´s start some healthy and respectful discussion here.
-------------------------------------------------------


For all the new traders out there: You gotta have at least 1 vouch to post here the meaning of this filter is to keep this thread clean from questions like "should I go long?..." or "hey people what stop loss should I use?" etc...If you still got this kind of questions use the search field on the top of the page, right from the clock...all answers are there for you to see and some are here to be read.

Good Luck to you all.

Red.

Malaysia

I was Shamx77. I created thread Malaysia before but it was banned. Please... behave yourself if you want this thread to last long. To those SPAMMERS or marketing people from any company... this is not the place for promotion. So... get out! The objective of this thread:
1) Help each other
2) Teach each other
3) Share experiences and stories
4) Share trading style & strategy
5) Warn each other about SCAM

p/s: To FF ADMINISTRATOR, please do not move this thread to Members Lounge section. If we move there, those guest / 1st timer will be deprived to join in and will not notice the existence of this thread. Thank you Mr & Mrs Administrator. We love you!

Instruction:

Use ENGLISH LANGUAGE only for discussion. If you wanna use Malay Language... minimize it on your "p/s:"

If the chart you are viewing is not clear enough... LEFT CLICK on the chart. Then a new window will open. LEFT CLICK again on the chart on that new window to ZOOM IN. You'll see... VERY CLEAR... can even read on what time frame I use on that certain chart.

Why Currency Trading Is Not For Everyone?


Trading foreign exchange on margin carries a high level of risk, and may not be suitable for everyone. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. Remember, you could sustain a loss of some or all of your initial investment, which means that you should not invest money that you cannot afford to lose. If you have any doubts, it is advisable to seek advice from an independent financial advisor.

Disclaimer-Please Read

All resources are for Educational Purposes Only.
Investing and Trading involves significant financial risk and is not suitable for everyone. Before deciding to invest or trade you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. Investors and Traders should consult with a professional financial advisor for the effects of active investing.
Any opinions, news, research, analyses, prices, or other information is provided as general market commentary and does not constitute investment advice. No acceptance of liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
Do Your Due Diligence and take responsibility.

T.A.Y.O.R >>> TRADE AT YOUR OWN RISK!

EU Redux General Discussion

Why another EU Thread? Some of the most compelling reasons to do so are…

((Note: This portion has been shortened as time goes by but still contains all the original sentiment))

The original EURUSD thread came into being a little over 6 years ago by a member who started it with his 5th post, never posted in it again, and then disappeared 6 posts later, never to be heard from since.

New Threads now have certain permission privileges granted to the Thread Starter to allow who posts and who doesn't. The original EURUSD thread starter “snprr” has been MIA now for over 6 years and therefore none of those Controls are applicable. I believe it's ultimately more productive to Start New than Fix Old.

The original “EURUSD” thread has steadily deteriorated into what many traders have often found to be counterproductive. Disruptive members seemingly Roam at will and any attempt to reign them in gets the restraining members flamed in response. Meanwhile we All have to deal with their silly issues and the resulting Disruption which can and on occasion has gone on for weeks or even months. Ignore lists get longer and longer, but it doesn't matter cuz they constantly get quoted anyway. New traders have to wade thru yards of Drivel and serious traders get fed up with the Drama while wondering why they’re still hanging a’rd. Several have decided it's not worth it and all but disappear.

So, can this or any other new thread survive in this environment? I hope so, cuz the old one is Broken. It may have a good day here and there, but one glitch and it shows its flaws pretty quick.

What will it take to make this one work then?
Steady Participation from those who Think they have Something to Offer, those who Actually Do have Something To Offer, those who have Nothing to offer but do have Questions, those who want a congenial place to Hang Out and last but least, those who mostly just need a Safe Place to get some assistance while they Cycle in and out of the Forex Blender trying to gain some Traction in their learning curve.

Guidelines as things currently stand:


Rule 0... Don't forget to have some Fun here now and then... it's just pips. Your Life is infinitely more important.

Rules 1 thru 3 …
They’re pretty simple and can be found in the User Guide at the bottom of every web page.

Spammers and Scammers always Welcome!!...

It's always Fun to see who can Boot you the quickest.

Oversize charts that blow up the thread…
Resize them, Delete them or else... This is a Bigger Annoyance than one might possibly imagine. Check out This Link for Info on how to properly post charts and attachments.

Ridicule and Insults…
Repeat offenders will wind up getting Blocked sooner or later, unless said Ridicule and Insults are rendered in Latin, Olde English or one's mother tongue, subject to being Graded and Scored by the Room... and of course anything uttered in a proper Scottish brogue is Inviolate and in a Class by itself. Bemac be da Judge on this... ( Say what?? )

Trolls and Borderline Disruptors who want to fly just under the threshold of actually breaking the rules…
If it’s your intention to just Disrupt, Derail, or Divert whatever the active flows of discussion are according to this definition of a Troll, don't bother unpacking as you won’t be here long.

Noob Posters, Traders, and all other Clueless wanderers…
Relax and Don’t Worry about it... you’ll have to work at convincing us that you’re one of the above class of Foul Cretins and Miscreants and not simply Clueless. Most of us are smart enough to know the difference, while displaying Clueless Tendencies our OwnSelves at times...

We want a Congenial and Productive thread that can contribute to helping someone move forward and assume you do as well.

EUR/USD and related issues are obviously the focus here, but unless something gets really Off The Rails, ain't no sense in getting all bothered about it. We’re Traders, and sometimes we all get bored or someone wants to give a Heads Up on something else… or just have some fun

The Room is the best Judge of that at any given time anyway, so with that…

Trading Made Simple

Is that possible? Yes.

Years ago when I retired I was looking for something to do. I attended a free local presentation about trading FX. My mind said "We can do that and make money too... from the recliner"... so the torture began as happens to all newbies...

I bought one sure fire program for $2,300... saving $1,700 off the normal $4,000 price. Man... I'm on my way I thought. It was so difficult to understand and trade that I never made a dime... in fact I lost most of the time. When I called the companyit was all Greek to me... I thought a lot of good that 19 years of education is doing.

I said this is BS and went on to other systems. I switched to Demo trading for several years while studying old charts. What made them tick? Every method had quite a few rules, indicators...on & on.

I finally got fed up with them all... remembering the thoughts years before of "I can do this". Then why was I getting my butt kicked on a regular basis... so frustrating.

I wanted a method that was simple, worked on all timeframes, simple rules, few indicators.... that when looking at my simple chart it just shouted out what I needed to do and developed a method that is 70-80%+ wins for me on a regular basis. It took over 2 years to develop this method. I worked hard... late nights and weekends to. I was so hungry for success.

I hate trading 5min-15min-30min charts. Why? You have to monitor each trade from beginning to end and hope and pray you made a correct entry. I only trade 1hr charts during the days now and 4hr trades at night. You ever woke in the morning popping on your puter and find you made 150 pips while you slept... guaranteed to put a smile on your face and a skip in your step.

I post a lot of training charts to drive it into your brains what to look for and how easy it can be... Just open your eyes, brain and pay attention and you'll be making pips soon...

You'll learn down the road that most of the stuff you have learned in the past is crap. I did. The list of rules in most methods will keep most dizzy... never building confidence... without confidence in your entries and exits you have nothing worth while.

We have a group of great traders who have been trading this method for 6-8 months already who will help you jumping in to answer your questions too.

I am very protectful of all our members. We don't have a stressful thread... no name calling allowed. I'll delete anyone who starts any problems. If you have a problem PM me and don't post it. If your not happy... please move on quietly. I'd do the same for you. You want Stress Free learning... come join us...

Really can't understand something... PM me your phone number and best time to call and I'll clear it up for you looking at an FXDD Demo chart so we are looking at the same chart.

You will need a MT4 platform to use our progam.

The key to this method is the Traders Dynamic Index indicator for entries and exits. I also use a Stochastics (8,3,3) indicator. It is ONLY used to confirm direction. Nothing else.

We only use Heiken Ashi candles... that's important.

We want you to be an active member asking questions, posting charts and making observations when possible.

Start trading a Demo account until you build your confidence and only then consider switching to a live account...

Disregard template posted below and see updates... Read the complete thread BEFORE ASKING QUESTIONS... YOU WON'T BE SORRY

See post #25 on page 2 for indicators...

how-investors-use-forex-daily-economic-news-updates

Forex daily economic news updates move the market, sometimes radically. Economic news of different countries include reports on employment, productivity, consumer sentiment, manufacturing and trade balances. This is either good for the country and increases the value of their currency or indicates a problem and causes the currency value to go down. Investors in this market know when this is happening and adjust their plans accordingly.

These news releases are scheduled by each country as their government makes a formal announcement on the economic health of that country. Lists of these times are published many places. Investors know exactly when one of these events is going to happen in the currencies they are invested in. Some investors are content to ride out any market change and reaction; other investors exit the market ahead of time and do not reinvest for a certain period of time afterwards.

Forex daily economic news updates can cause dramatic movements. Sometimes this movement starts ahead of the announcement based on rumors or hopes. Many times the movement goes one way then corrects itself and moves in the opposite direction. Some investors have found themselves stopped out of the market at a loss only to watch this market move in the right direction; had they been able to stay in, they would have made a very profitable trade.

Experienced traders sometimes use a limit order to enter the market if the price is right, and a stop loss order to exit the market if the market moves against them. These orders may not work in a fast moving market. The market may gap passed either one causing the order to fail. This market may be moving so fast the order is not filled anywhere near where it was placed. Either way, the investor is not in control of the trade and is at the mercy of the market. A profitable trade at one price may become a losing trade at a different price. Failing to fill a stop loss order or filling it at a much different price drastically reduces an investment account.

Economic news is one of the major movers of the markets and is often looked forward to enthusiastically as an opportunity to make money. Forex daily economic news updates are an important market strategy for investors, either as an alert to watch the market and the market’s reaction or as a warning to exit the market for a period of time.

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Currency Trading Basics: The Seven Basic Elements of Currency Trading

Currency trading, foreign exchange trading, forex trading or Fx trading are just four different titles often given to act of investing in the currency exchange market. If you are interested in investing in the foreign exchange market, then you need to understand the seven currency trading basics:

1) What is currency trading?

Currency trading is simply buying and selling currencies and making a profit from a positive price change between two different currencies involved in a trade. The two currencies involved in a trade are known as the forex pair. The most common currency involved in forex trading is the US dollar which is involved in 85% of all trades.

A forex trader will monitor the financial markets and react to trends in the movement in price between one currency and another. He makes a profit if he buys or opens a trade at a low price and sells or closes at a higher price. The skill is being able to understand what is happening in the market and correctly anticipate the upward or downward movement of currency prices. There are many tools available to help with the analysis of the market – the most common being a variety of charts which show historical trends and patterns. Increasingly, there are new trading software packages entering the market which automates much of this process (visit my blog for monthly reviews of such products).

2) The forex market

The volume in the foreign exchange market is massive, with around trillion dollars being traded every single day. The international banks and financial investment companies are the main players but especially now with the internet and high speed connections, the market has opened up to the small private investors who are entering the market in their droves. The constant fluctuation in price between currencies provide a lucrative market for the shrewd investor.

3) Investment Capital

Just a few hundred dollars is enough to get started. You need to open an account with a broker but generally they do not charge any upfront fees or commission and make their money from the spread in buy and sell prices of the currency and from leveraging (visit my blog for more detail).

4) Trading hours

Because the currency market is Global, it is effectively open 24 hours per day, 5 days per week. It opens in Sydney Australia at 22:00 UTC on Sunday evening and closes at 22:00 UTC on Friday afternoon in New York.

5) Risk

Unfortunately, too many people enter the forex market and expect to get rich quick. Forex trading is not gambling, it’s a skill which can return good profits if you enter with the correct mindset and are prepared to learn the various tricks and techniques. In any form of investment where the potential profit is high, then so too are the potential losses. Even the most skilled and experienced traders will lose money and should not be put off when you do. The important thing is to make more gains than losses, so start small and learn from your mistakes. Always trade with a stop loss, particularly if you are using any form of automated trading software, this will protect you from huge losses if the market should suddenly turn against you.

6) Strategy and Systems

You need a clear strategy and to develop a profitable system within that strategy. Fear and greed are your worst enemies. Work hard at understanding the markets, study the charts and get a feel for the many factors which influence price movement. Persevere and above all be consistent.

7) You are in control

You are in total control of your investment. Unlike most other forms of investment such as stocks and shares, you are not dependent on the performance of a third party. So long as you learn the currency trading basics and learn to recognise the world events which influence currency prices then you are in a strong position to take advantage of positive trends in currency price movements.

Simple Advice On How To Win When 95% Of Traders Lose Money

95% of traders waste income but the paradox is anyone can make finances if they get the correct education and mindset and here, we are able to provide evidence you how to avoid the costing majority and get in the elite 5% who obtain the really big gains. Forex Advice

First I want to outline a famous experiment which shows anyone can win and it was conducted by trading legend Richard Dennis.

He took a group of ordinary people which included a clerk, a boy just out of school and a lady auditor to name just a few and taught them a system in two weeks and these traders were then given trading accounts and they rewarded Dennis’s confidence in them, by making him 0 million dollars in under 4 years. He proved anyone could win and while you may not make as much money as these traders, it shows anyone has the potential to make profits – Forex trading success can be learned.

The first point to understand is you don’t get rich following cheap Forex robots. They claim for a hundred dollars or so you can make huge gains with no effort but none of these cheap systems have an audited track record to support their gains and if they really did work everyone would quit their jobs and trade! Forex Advice

You have to trade a logical system which can make money and never believe in easy money, the rewards are so high in trading, because you have to make an effort but the really good news is for the effort you need to make, the gains can be life changing and even better news is the best Forex trading systems are simple.

Simple systems work best because they are more robust than complicated ones. If a system is to complicated, it will have to many elements to break and if you take Dennis’s system as an example, it was very simple and easy to learn and that’s why the traders mastered it in just two weeks. Forex Advice

While many traders pick the wrong system or use a system based on flawed logic, another group of traders cant even win with a good system! The reason for this is they can’t follow it with discipline, If you want to win you must accept you will have losses. The system Dennis devised had far more losers than winners but it made huge gains because its winners were far bigger than its losers. Living an average life? Always want to have financial freedom? Check out Forex Advice Program. It’ll change your Life Forever!

Discover Practical Ways To Learn Forex Trading

One of the things you should require yourself is to learn forex trading efficiently if you want to become successful in this game of currencies. It is important that you face it with the right attitude and the right learning tools to equip you. These days, there are many ways you can learn forex trading regardless of you being a beginner or a professional. After all, learning never really ends in life and you always have to keep your eyes open for the new things you can pick up. How Beginners Can Learn Forex Trading If you are a newbie in this particular trade, then you should definitely take some time to learn forex trading. It can be easy if you have the right references to break into this business. One thing you need to ask yourself when trying to learn forex trading as a newbie is what inspired you to get into this game in the first place. That will tell you lots of obvious references you can use to inspire you to do more and bring more results into your currency business. If there was a particular person who inspired you to get into forex trading, then you might as well use that person as your model for the time being. Learn as much as you can from that person and surely, he or she will be thrilled to coach you into the world of trading currencies. While books and other written references are important, there are also lots of valuable lessons you can learn from the first-hand experience of someone who’s been into the trade for a long time already. Back up these experiences with some research of your own. Frequent finance sections of book shops and look at free articles online which you can read up on. Professionals Also Learn Forex Trading Whoever said that being into the game for a long time means you no longer need to know more? The more you stay into the forex game, the more you will feel like you need to learn more about forex trading. As you are already beginning to carve your own niche in the market, you will have more access to forex learning tools such as free trainings and product demos from forex software developers. Use these things to your advantage. You can also try looking around forex sites, seeing how they can eventually help you out with some useful buying and selling tips. You can also try free trial versions of forex software products since you don’t run the chance of wasting your investment here anyway. Soon as the trial version expires, then that’s the only time you will have to make your decision on whether you would or would not buy the said product. Getting the right way to learn forex trading need not be an expensive feat. Once you have been in the trade, you will eventually benefit from the actual and theoretical learnings you can get within the forex market. What matters is that when you learn forex trading, you do so in a way that you can really apply it easily on your own business.

Forex Profit Multiplier Review

The Forex Profit Multiplier is a home study trading course developed by Bill Poulos, a well-known trading and investment expert with years of Forex experience under his belt. This new offering, according to Profit Runs, is a result of combining all that Forex customers have been clamoring for in the past decade. This much-anticipated product is the new version of the Forex Education and Training Course.

A comprehensive trading system replete with Bill Poulos’s custom intelligent Trade Alert Software, video training, and live training sessions, the Forex Profit Multiplier was made for those on the go. Its purpose is to make trading possible for those who have very hectic daily schedules and not much time to trade the market efficiently and effectively. Bill Poulos promises that you won’t have to spend a lot of time in front of your computer to be able to work with the methods he proposes. According to him, it won’t take you more than 60 seconds at a time.

The Forex Profit Multiplier makes use of three different trading methods that work on a four-hour time frame. Each method is complete and may be used on its own. To make sure your trading is protected, you get all the setup, entry, and exit rules and guidelines with stringent risk management regulations. As you will be using the four-hour timeframe, the maximum number of times you will have to check out the trading alerts is once every four hours. The alerts will be sent to you via e-mail, RSS or SMS so they won’t require your constant attention.

With this course, you can begin trading almost immediately and fairly rapidly. Those who have trading experience should be able to start trading with the system within a few days. Beginners will take a bit longer, perhaps a few weeks at the most. Of course, this will also depend on how much time you spend studying the course and getting to know the system. It will take some time, as there are loads of instructional materials included and you will have to sit through the training videos and male sure you learn all the techniques. But once you take the time to get familiar with the system, you will reap the reward of Bill Poulos’s promise of a 60-second active trading time.

You need to put in effort to master this home study trading course. It will take some time to be familiarized with the trading methods and the risk management guidelines. This is not a course for those looking for some sort of instant trading system that will do the job for them. It is for people who want to become efficient and independent traders capable of taking risks and making decisions confidently. The Forex Profit Multiplier requires serious learners but it is worth it. It is of topnotch quality, is highly informative, and will quite possibly be very lucrative for you.

Can You Make Money by Forex Day Trading

Forex trading can be a tricky business. There’s a lot of leverage in forex
investing, and there can also be a lot of volatility. As such there is a high risk/
reward associated with forex day trading. Now just like you wouldn’t probably
go to Vegas and gamble on craps every day, you need to have a specific
method or strategy in play when you trade in the foreign exchange market.

Learn the Basics

Before you place your first forex trade you should take some time to
understand how the forex market works, what kind of movement you can
expect to see during the market open, and always make some practice trades
to see how well you can do before putting up real money.

Follow a System

Whether you develop your own system using trial and error (not recommended)
or you follow the advice of a forex professional, make sure to stick to the plan
and don’t let your emotions cloud your judgement. One great thing about
following a system is it helps to take emotion out of the equation. If you just
go by the numbers, you’ll be much more objective and professional with your
trades.

Learn from the Best

The easiest way by far to get good at forex trading is to find a seasoned forex
pro and learn from them. Many have decades of experience in forex and other
markets, so it makes sense to benefit from their vast experience instead of
relying solely on your own. Do your research to find the best forex trading
people and/or software that will get the job done on a consistent basis. Keep an
eye out for proof and testimonials that lend credibility to a particular forex
trading strategy. Once you find a method you’re comfortable with, make those
practice trades and then get crackin with real money.

Is Forex Morning Trade a Scam

There sure are a lot of make money programs under the sun, and not all deliver
on their promises. This article will evaluate if Forex Morning Trade is a scam to
see if it’s worth buying or better left on the shelf. In reviewing any forex trading
software, I always look at four key factors: trading history, testimonials,
customer support, and money-back guarantee.

Trading History

The software is reported to have a successful track record of 2 years and
running. The data on the website indicates a 56% profit for 2009 and 87% for
20010. Granted I can’t verify these numbers directly, but the fact that they’re
available lends some credibility to the program.

Testimonials/ Positive Reviews

The testimonials and reviews I found indicate similar results. They seem
genuine and don’t give ridiculous income claims like scammers often do. You won’t
get rich quick off this software, but steady gains over time can add up to a big
payoff. Aside from the positive reviews, I didn’t find articles in Ripoff Report or
other scam forums like I do when I come across a sketchy program.

Customer Support

Forex trading software is only as good as the quality of its customer support.
People always have questions or concerns that need to be addressed as they use
a program, and they should get a fast response to stay on track. There is no
problem here with Forex Morning Trade, since the creator of the software answers
questions personally. You can hardly ask for better support than that, and the
email address is clearly displayed on the website.

Money-Back Guarantee

One of the best features of this forex program is the 60 Day 100% money back
guarantee. There are no conditions or questions asked, but if you get your money
back you won’t be able to use the software anymore.

Conclusion: Forex Morning Trade is NOT a Scam

Given that you can make money each day with only 5 or 10 minutes of work, this
forex software is a must-have for any serious investor. I recommend you start
with some paper trades first, but once you get comfortable with it, start using real
money and always use proper money management. If you follow the instructions
to a tee, there’s no reason why you can’t make the same profits as the others.

What to Look For in Forex Trading Software

There are a number of things you should look for when evaluating any forex
trading software. Above all else, the program must work consistently in order to
generate stable profits. It should also be easy to work with so that frustration and
mistakes are kept to a minimum. Below we’ll cover the main points in more detail.

Testimonials/ Positive Reviews

The best evidence of a forex program’s success can be found in independent user
reviews. If it doesn’t have any, or if they seem like they were all written by the
same person, odds are the program isn’t everything it’s made out to be. One should
read at least a couple reviews before buying forex trading software.

Customer Support

Another thing to verify is contact information. Software is only as good as its
customer support. If you run into a roadblock you should be able to get a prompt
response so you can continue with the program. An 800 number is always best,
but at the bare minimum there should be a working email address or support
ticket system in place.

Recommended Buy/ Sell Orders

People are prone to error, especially the first time they start something new like
forex day trading, so a software provider should provide crystal clear buy and sell
orders. Entry price, stop loss and target should all be spelled out in order to
remove the guesswork for the user.

Automation

Automation is not a must-have feature for forex trading software but it can be
extremely useful for people who don’t have the time or flexibility to be at their
computer when the forex markets open each day. Automated forex trading fixes
this problem if the software works as well as it does for manual trading. It can even
work better than manual trading since it removes human emotion from the
equation.  The more automation you implement, the better you’ll leverage your
time and the more money you’ll make.

Forex traders are awaiting an expected slow news

Forex traders are awaiting an expected slow news day in the markets. Overall, trading in the Forex markets has been dictated by moves in global equities over the last few days. Sharp losses to US stocks last week have triggered a flight to quality and have led the dollar higher. The move was especially seen in the EURUSD which fell from above 1.4600 last Thursday to around 1.4300 this morning. The move occurred even as the ECB pretty much indicated that would continue with raising interest rates again in July.
EURUSD
As mentioned above, the EURUSD continues to trade on the defensive. The pair, which had formed a short term base around 1.4450 last Friday, crumbled further when that level was breached. Currently, the EURUSD has found support just above 1.4300. Nonetheless, buyers may again move to the sidelines if European equity markets which are about to pen continue their slide.
Support/Resistance 1.4295/1.4450
GBPUSD
After trading in a two week range between 1.6300 and 1.6475, the GBPUSD broke below its support and has been trending towards the 1.6200 figure. Volatility today though may be limited as Forex traders await tomorrow’s UK CPI figures. The Bank of England has been unwilling to raise interest rates even though inflation has remained stubbornly high. As such, another high reading tomorrow could finally tip the scales for a rate hike.

Morning Forex Review - The World's Worst Debt: Greece

Yesterday, ratings agency S&P cut Greece’s sovereign debt to the lowest level in the world. Nonethessl, Forex traders more or less yawned as the EURUSD traded back above 1.4400. All right, bad news yesterday for Greece and the Euro rallies. Last week it dropped on good news from the ECB. So what’s really going on in the Forex markets?
Forex traders are taking it for granted that Greece will need to restructure its debt, and therefore the actual ratings are becoming irrelevant. Unlike Pakistan or Ecuador, whose debt ratings are nearly just as bad, when Greece next taps the markets to raise money, they will do it with assistance from the rest of the EU (most likely Germany) and the IMF. As such, the current driver of momentum in the Forex markets over the last week has been overall risk sentiment. Equities snapped their week long losses yesterday, which caused the dollar to drop. Nonetheless, sharp losses in Oil and Gold prices yesterday showed that riskier assets continue to be vulnerable to selling.
EURUSD
Other than a small drop in early trading, the EURUSD has been forming a nice base just above 1.4400 since yesterday evening. Therefore, if European stock indexes rally on the open, it could trigger a short squeeze and move the EURUSD back towards 1.4500. On downside, Forex traders will be watching intraday support of 1.4370.
Support/Resistance 1.4370/1.4500
GBPUSD
At a current 1.6420, the GBPUSD has risen nearly 200 pips from yesterday’s lows. The move is quite surprising as it came before this morning’s UK CPI figures are released, which could very easily knock the pair back down. As such, the trading action could be revealing that Forex traders are expecting a better than expected figure. Nonetheless, traders should keep in mind that the GBPUSD spiked higher last month when CPI beat forecasts, only to selloff as the day went on.

Bill's Pointers

Watch for US retail sales, factor sector surveys (Empire, Philly), CA manufacturing shipments, a speech by BoC Gov Carney (June 15th), Tuesday’s ECOFIN meeting, UK, EU and Swedish (notably in focus after the production numbers) CPI, NZ retail sales and speeches by RBNZ Governor Bollard and RBA Gov Stevens. On the central bank front, the SNB rate decision is due June 16th. Lastly, ECB president Trichet will speak in NYC.
CAD:
May employment +22,300 (cons: +20,000) and the jobless rate dipped to 7.4% (cons: unch at 7.6%). Full-time jobs +32,900; private sector +37,100. Decent. The numbers helped CAD outperform on key cross rate, but not versus USD. (Note though that the 200-dma at 0.9966 still looms as a barrier to any run to parity.) CAD suffered when US data turned mixed in early March, but might do relatively better if growth concerns sprout elsewhere. Still, we would feel better if CAD were outperforming in an environment of still solid global growth, but with the US gaining traction. We are not there right now, though it is unclear that the backdrop has deteriorating dramatically. Notably even as overall market sentiment has rolled over, the VIX index remains modest and US financial conditions quite slack. Past outbreaks of risk aversion typically featured a spike in VIX and a notable erosion in financial conditions. Not this time.
AUD/NZD:
Though AUD was an underperformer, and though it remains above 1.05, it feels heavier, most notably against NZD. AUD/NZD found support at 1.28, just ahead of support at 1.2781, the 2011 low. Note that though AUD/CAD is off its test of 1.0550, it remains above the 50-dma at 1.0275. As well, watch 1.0207, which was key resistance from November to late April.

Morning Forex Review

The US Dollar on Wednesday rose across the board against a basket of currencies. Since worries about the Greece situation are increasing and the Europe seems unable to solve its sovereign debt problem, investors are looking at the greenback as a safe haven. Yesterday the dollar rose near the 81.06 yen resistance level while it found support at the 80.81 level. Against the Swiss Franc the US dollar rose up to the 0.8549 resistance, rallying after touching a record low at the 0.8324. The Australian dollar also lost ground against the U.S dollar; it fell heavily down to 1.0531 with support level at 1.0522 and resistance at the 1.0590 level.

 EURUSD

The Euro fell broadly to new lows after three weeks, early on Thursday. Euro looks vulnerable to worries that Greece’s debt will get out of control as a new bailout scheme to keep Greece from defaulting is not yet agreed and protestors in Athens against austerity measures are becoming violent. Even if Greece is a small part of the euro zone economy it could affect the whole European financial system if it is considered to be in default. Portuguese and Irish spreads were up to European record high versus the German 10-year bund. The euro early this morning fell down to 1.4120 level continuously penetrating the previous lows, seems like no support level can hold the downtrend, next support level expected to hold the short-term downtrend is at 1.4055 level.

Support/Resistance 1.4055/1.4200

GBPUSD

The cable is getting weaker as investors are putting their money in less risky currencies like the US dollar. Contagion fears of the sovereign debt in Europe are affecting the British economy as well; this is reflected on its currency. The British pound has been losing ground in the last trading sessions and fell down to the 1.6165 support level while the 1.6225 level is expected to hold any bounce up.

Support/Resistance: 1.6165/1.6225

Risk Sentiment Dealt 'Crushing Blow'

Fear steamrolled sentiment. Equities fell 1.0% or more, with EU periphery bourses underperforming. In FX, USD benefited fr om the singular aversion to risk. This overshadowed generally soft US data. 'L et's Hollah for the Dollah!!'. USD gained 2.0% against NOK and SEK, and 1.0% aga inst EUR, NZD CAD, GBP and AUD. USD/CHF was up just below 1.0%. The decline in t he S&P 500 (-1.9%) brings the 200-dma at 1256 into play. As well, that brings trend line support back to the lows of March 2009 into play, and comes at a time when most major equity markets are already below their 200-dma. Adding to the challenges, WTI is 'flirting' with the early May low of$94.63/bbl, whic h turns the focus toward the 200-dma at $92.00, at a time when many other commodity prices are testing or below their own 200-dma. The Rays of Sunshi ne noted in yesterday’s comments were only a brief interruption amid a very challenging episode for the global economy, even though Chinese data provid ed a bit of hope very early on.
EUR: As it’s been for a while, Greece wa s the eye of the periphery storm. Reports of strife in Papandreou’s government added to general unease. News that he’ll form a new government today and seek a vote of confidence did NOT help the EUR. Risk sentiment remained under pressure. EU leaders are watched for solutions, but none seem forthcoming, or are still under intense debate. This also added to general unease. Ratings warnings o n French banks and Portuguese bank subsidiaries, also added to general unease . After smashing the 50-dma at $1.4426, EUR/USD is now testing the 100-dma at 1$.4150, a level last tested in mid-to-late May just below $1.40 and mid-February. Keep watch for the post-press conference May low at $1.3970. Periphery spreads v bunds: Greece 2-year, 2651 bps, 10-year 1478 bps: Portu gal 2-year 1093 bps, 10-year 772 bps: Spain 10-year 259 bps, but still below th e November 2010 high of 283 bps, but still very elevated.
USD: Note that in the 2008 mad scramble for USD funding, DXY rallied from 71 to almost 90. Amid the first EU periphery shockwave (2009/10) DXY rallied from 74 to 88. Even in November 2010, EU periphery issues helped lift DXY from 75 to 81. At present, DXY has rallied from 73 to 76. Subsequent crises have thus had less 'bang for the buck'. Generally poor US data (June Empire -7.79, cons: 12, May IP 0.1%, cons: 0.2 % and June NAHM HMI 13, (cons: 16) might have helped given the risk averse to ne, and did drag CAD back to the crowd after earlier being an outperformer. May CPI was a touch above expected, but had little impact.
GBP/USD also smashed through its 50-dma ($1.6372) and has also pierced the 100-dma at $1.6257. It is also testing t rend line support back to May 2010. EUR/USD and GBP/USD are sitting on some majo r support levels, more so for GBP/USD than EUR/USD, which might surprise you.
SEK is SIK: CAD/SEK has rallied to test the 200-dma (6.60), EUR/SEK, despite EUR’s woes, is now well above the 200-dm a (9.039) and above 9.1501 the 61.8% retracement of the Nov-Feb sell off. USD /SEK pierced 6.4269, the mid-May high, with the 200-dma at 6.5538 in focus. GBP/ SEK is atop the 200-dma at 10.4799. AUD tried to hold its RBA Governor Stevens ’ inspired gains, but it eventually gave way to the overarching risk averse t one. AUD/NZD remains up overnight, but off its highs of 1.3155. Keep watch for t he 200-dma at 1.3196, which was breeched on April 26th, and last tested in ear ly June. While keeping one eye on market tracking screens, also keep watch for AU consumer inflation expectations for June.

What Inflation

Bank of England Governor Mervyn King said policy makers are right to keep the key interest rate at a record low because weak growth in money and wages signal the current bout of above-target inflation will prove 'temporary'."Subdued rates of increase in average earnings, as w ell as remarkably -- some might say disturbingly -- low growth rates of broad m oney have provided strong signals that inflation will fall back in due course," he said in a speech in London on Wednesday.A rate increase "would have meant a weaker recovery, or even further falls in output" and "a risk of inflation falling well below the target in the medium term."
King said interest rates will have to rise to "more normal levels" from the current 0.50%, though the timing is "simply impossible" to know because of uncertainty on the pace of the economy’s rebalancing and the impact of inflation that’s more than twice the bank ’s 2.0% target. The governor, who will chair the first meeting of the new Financial Policy Committee on Thursday, also said banks must have "much higher levels " of capital to protect against potential losses.Lenders are continuing to impro ve balance sheets and reduce leverage, King said. A return in interest margins from "unprecedentedly high levels" will affect the speed at which policy ma kers raise interest rates, he said."The committee is watching extremely carefull y for any signs of a pickup in domestically generated inflation and it will take action as soon as it is appropriate to do so," King said. "When conditions in the banking sector return to something closer to normal, those spreads will contract and the rate at which that takes place will have an important influence on the speed at which bank rate will rise."
Some measures of money supply have shrun k even after the bank completed a £200bn bond-purchase program. M4, which t he central bank uses to assess the effectiveness of its asset purchases, fell 2.0% in the 3 months through April on an annualized basis.Data Tuesday showed th e pickup in inflation to 4.5% in May has NOT yet fed through to salaries. Wag e growth including bonuses weakened to 1.8% in the 3 months through April fro m 2.4% in Q1.The challenge for the MPC is weak growth and faster inflation at a time when the economy "is going through a major rebalancing of demand and output," which will take "several years to complete," King said.
A weaker pound was a "necessary precondi tion" for the economy to rebalance, according to King, who said policy makers hav e had to "look through" its effect on inflation. Sterling has dropped about 25% o n a trade-weighted basis since the start of 2007."We could have raised bank rat e significantly so that inflation today would be closer to the target," King said.But that would not have prevented the squeeze on living standards aris ing from higher oil and commodity prices and the measures necessary to reduce o ur twin deficits."
King also raised concern that the Europe an Commission may weaken capital and liquidity rules for banks agreed by globa l regulators under the Basel III accord. He said that putting in place adequa te resolution procedures had to go hand in hand with ensuring that lenders are sufficiently protected against future crises by holding an adequate level o f common equity. "A crucial part of the new Basel III framework is the recognition that only common equity is a truly loss-absorbing layer of capital," he said. "I am, therefore, concerned that the European Commission will propose a weakening of the Basel standards in that area."
King will present the findings of the FPC’s first meeting on June 24th, and said he will comment on where the panel, cr eated to oversee financial stability, sees risks increasing."The FPC will be both doing and learning," King said. In the wake of such a severe crisis, it is unlikely that excessive credit growth will be the major problem over the ne xt few years. Indeed, the present problem is the reverse."Lawmakers at the UK Parliament’s Treasury Select Committee are examining accountability at th e Bank of England and King today responded to comments by former policy makers on the extent of the powers he will have as chairman of the FPC.