Forex Forum – What’s the Most Popular Forex Forum Used by 4X Traders Online?

Choosing the best Forex Forum can be hard to find. Ideally a Fx forum should include a number of attributes for both beginners and advanced traders. Most traders after a while, once they’ve chosen their platform will stick to the forum of there specific system which enables them to gain an inside view on the most popular currency pairs.

After considerable research it can be deemed that the best 4X forums are found within specific sites which are trading systems themselves. They will include the following.

  • Live Training: Here you will receive one-on-one training with an account service manager. This is normally carried out over the phone or using an online chat system.
  • Free Guidebook. Some Fx systems include a free down-loadable eBook as an introductory guide. This will teach you valuable background skills in technical methods, trading tips, Forex glossary terms, how to read charts and how financial indicators are used in Fundamental Analysis.
  • Video Guides: Now an integral part of Forex training, these should be delivered in a clear and concise manner where the Forex trainee is addressed at eye level through simple training procedures. You will learn how to open, modify and close deals using unique tools like a Trade Controller, and how to manage you SMS alerts.
  • Inside Viewer: Few systems include a Forex visual trading tool, but ones which do will provide you with a unique insight into real time trades of what other currency pairs traders…



Source by Rob R Carmichael

Forex Trading Forecast: US Dollar to Weaken Before Further Rallies.

Summary: Forex traders continue to buy euros, and our forex

positioning data gives us forecasts to expect further EURUSD losses

through the medium term. Yet we…

Forex traders continue to buy euros, and our forex positioning data

gives us forecasts to expect further EURUSD losses through the medium

term. Yet we see that the number of currency traders long the EURUSD

fell precipitously following the forex pair’s noteworthy breakdown

earlier this month, and we have since been arguing that we may see a

short term EURUSD rally before further losses.• EURUSD – Forex

Traders Forecast EURUSD Rallies Before Further Declines •

GBPUSD – British Pound Trading Forecast Further Short-term Bounce Likely

• USDJPY – Currency Traders Accurately Signal Japanese Yen Gains • USDCHF – Forex Traders Remain Bearish, Signal Rallies

• USDCAD – Canadian Dollar Forecast to Rally Against US Dollar

While the SSI is available once a week on DailyFX.com, you can receive

SSI readings twice a day in DailyFX Plus Forex Intraday Analysis The SSI

sought a EURUSD rally since 1.26 and was signaling a reversal around

1.60. Find our more in the DailyFX Forex Forum * Negative ratio

indicates net short Historical Charts of Speculative Positioning EURUSD

– Forex traders continue to buy euros, and our forex positioning data

gives us forecasts to expect further EURUSD losses through the medium

term. Yet we see that the number of currency traders long the EURUSD

fell precipitously following the forex pair’s noteworthy breakdown

earlier this month, and we have since been arguing that we may see a

short term EURUSD rally before further losses. The SSI ratio currently

stands at 1.17, as only 54 percent of forex traders are currently long

the euro. Typically we wait for much more extreme readings, such as SSI

ratios beyond 2.0 or below -2.0 to give clear signal to go long or short

the currency. This is precisely what happened prior to the EURUSD’s

break below 1.50, and we have since seen the SSI ratio become much less

extreme. Our Senior Strategist forecasts that the euro will rally

further through short term trade; tell us what you believe in our forex

forum EURUSD thread. GBPUSD – The ratio of long to short positions in

the GBPUSD stands at 1.29 as nearly 56% of traders are long. British

Pound traders have shown little conviction in buying or selling, and

this effectively gives us unclear forecasts of what to expect for the

GBP. It is subsequently unsurprising to note that the Pound has remained

Rangebound since its previous tumbles, and we predict that the GBPUSD

will continue to range trade through the short-term. We will wait for

more extreme readings in the GBPUSD SSI ratio before stating a firmly

directional bias in the British Pound, but the currently positive ratio

suggests we may expect further medium term declines in the British

currency. Yet our technical specialist predicts that the GBPUSD has

actually set a short-term bottom through recent forex trading. USDJPY –

Our forex positioning data shows that USDJPY traders flipped to net-long

territory for the first time in over a month-accurately signaling a

USDJPY breakdown. The USDJPY SSI Ratio currently stands at 1.15 as 54

percent of currency traders are long, but yesterday morning the ratio

actually stood at -1.37. Long positions in the USDJPY jumped 41 percent

overnight, and a continuation in buying in the USDJPY would clearly

suggest that we may see further weakness in the US dollar against the

Japanese Yen. Indeed, if we see the USDJPY SSI ratio creep back towards

+2.0, it would be a strong signal to sell the forex pair and would

forecast further losses. Discuss your own forecasts for the USDJPY in

our forex forum. USDCHF – Forex positioning in the USDCHF is broadly

unchanged on the week, as the ratio of long to short currency trader

positions in the forex pair currently stands at -1.51. Yesterday, the

ratio was at -1.29 as 56% of open positions were short. In detail, long

positions are 0.8% lower than yesterday and 24.3% weaker since last

week. Short positions are 14.6% higher than yesterday and 4.0% stronger

since last week. Typically when we see that forex traders are short the

USDCHF and continue selling, this gives signal that the US dollar may

rally against the Swiss Franc through short term trading. Keep up to

date on the Swiss Franc in our currency rooms. USDCAD – Since accurately

predicting a sharp breakout in the USDCAD, our forex positioning data

has since flipped its bias and continues to signal short-term losses in

the US dollar against the Canadian dollar. The ratio of long to short

positions in the USDCAD stands at 1.42 as nearly 59% of traders are

long. Yesterday, the ratio was at 1.50 as 60% of open positions were

long. In detail, long positions are 4.3% lower than yesterday and 33.4%

weaker since last week. Short positions are 1.3% higher than yesterday

and 13.6% stronger since last week. Typically when we see that forex

traders are long the USDCAD but have stopped buying, it gives us a

modestly bearish forecast for the USDCAD. A Canadian dollar calendar and

forex technical updates can be seen in our USDCAD currency room. How to

Interpret the SSI? The FXCM SSI is based on proprietary customer flow

information and is designed to recognize price trend breaks and

reversals in the four most popularly traded currency pairs. The absolute

number of the ratio itself represents the amount by which longs exceed

shorts or vice versa. For example if the EURUSD ratio is 2.55, long

customer orders exceed short orders by a ratio of 2.55 to 1.

Conceptually similar to contrarian analyses using the CFTC IMM open

position data or COT Report, the SSI provides an alternative approach

that is both more timely and accurate in forecasting currency price

movement. The SSI is a contrarian indicator that tells you how the

market is weighted and where the trend may head. More long positions

don’t necessary suggest more confidence in the direction of the

current trend. In general, when traders start having adverse movements

against their position, many tend to increase the size of their position

with the purpose to average down their entry price in one last attempt

to recover from previous losses. However, the higher the number of short

orders in a bull market the more dangerous is to take additional shorts

because many of those traders who just entered the markets are also

leaving their protective stop losses just above the current price

action. Have any further questions about the SSI and forex positioning

data? Ask the author David Rodriguez on our forex forum. We love getting

feedback on our reports. Tell us how we’re doing: E-mail the author

of this report at drodriguez@dailyfx.com. For information on an FXCM

Managed Account that takes advantage of the SSI, please review our

Sentiment Program at: http://www.fxcmmanagedaccounts.com/ or call +1

646-432-2968.

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