Economic Releases

One should probably not use technical strategies to enter trades right around important economic releases such as the employment report.

Key levels of support and resistance will still come into play, after the fundamental data has played itself out in the market - but the short term technicals will hold little relevance.
Among the advantages to the retail fx trader in trading off fundamental data is that the information is readily accessible through sources such as Bloomberg and Reuters, and that the retail trader can actually act faster than the banks and hedge funds.
The impact of major economic news can take some time before it has finished impacting the market, and the day trader can use this to their advantage - benefiting from the momentum generated by the order flow of the bigger players.

The best opportunities are created when the news comes out way off expectation and the market scrambles to correct itself. This can happen quite frequently with releases such as the nonfarm payrolls part of the employment report.
For a good exit to a trade entered based on fundamentals, the trader should look to a significant technical level.

[ForexGen Introducing Brokers]

Introducing Brokers may be individuals or institutions who gain their income from the commissions and/or rebates by introducing customers to ForexGen trading.


WHAT are the advantages of being an INTRODUCING BROKERS with ForexGen?

* Providing the most huge income sharing plan
* Providing several ways for our IB's to charge commission.
* ForexGen IB can also charge commission for each lot the traders execute.
* Moreover, ForexGen IB is able to increase the spread for all or certain clients and have ForexGen Investments rebate the difference.

In case the IB does not increase the spread or charge their clients a commission, ForexGen rebate the IB a minor predefined amount for every client's executed lot.
Commission is paid out every month.

Individualized service

[ForexGen] offers our IB's individualized service created according to the individual needs and specified business situation for each IB.
Our Introducing Broker program provides a highly organized program for individualized services and organizations in order to introduce their clients to the online foreign currency exchange market, moreover they will enjoy the benefits of being a part of the ForexGen family.

ForexGen offers 1 pip spread on 10 pairs with high trading techniques that make ForexGen
incomparable to any other rival.

Inside Day Breakouts

An inside day is one where trading is contained within the trading range of the previous day.

The volatility breakout strategy entails entering a trade on a stop order above or below the range that has been previously trading - with the expectation that since a breakout has occured price will continue to move in that direction.
Volatility breakout systems are based on idea that if the market moves a certain percentage from a previous price level, the market is likely to see follow through in that direction. In this scenario you are looking for a continuation of the move based on momentum.
One should look for a series of inside days to implement this strategy, and the greater the number of inside days that transpire, the higher the probability of a breakout.
Also, the longer the timeframe used, the stronger the breakout opportunity - hourly and daily timeframes are the best to use.
This strategy is also best used with pairs that see tighter ranges - these are typically the crosses - currency pairs that do not have the USD as part of the pairing such as the EUR/GBP and the EUR/CHF.

Inevitably there will be false breakouts, as the interbank dealers try to trigger the stop orders just outside the breakout levels.
In order to avoid being caught in a false breakout situation, enter your trade with a stop order at least 10-15 pips above the breakout level - meaning the levels above or below the trading range depending on whether the market is breaking out to the upside or downside.
(In case you are not clear on this - a stop order is one that is placed above or below where the market is currently trading and becomes a market order when the market touches the price where the stop was entered. A buy stop is placed above the market and a sell stop is placed below.)

Again one can look to the ADX as an indicator to whether the market is still range bound or beginning to trend one way or another.
Stay away from inside day breakout trade if the ADX is below 20 and trending downward.
The breakout strategy is valuable in that it teaches the trader to do something that is normally counter intuitive - that is to buy the high or sell the low. Novice traders are more likely to try to pick tops and bottoms.
Often the breakout will occur in a fast moving market, making decisiveness even harder. However, if your strategy is in place and you have identified the opportunity, you will be ahead of the game.


[ForexGen Money Manager]

An individual who is responsible for the entire financial portfolio of another individual or another entity. A money manager receives payment in exchange for choosing and monitoring appropriate investments for the client.

Benefits of being a Money Manager with [ForexGen]:

* Providing three different commission sources.
* Weekly commission plan.
* Easy & fast commission withdrawals.
* Fixed percentage of the profits.
* P = k * D “P=Profit, k=Variable Parameter, D=Deposits”

The money manager gets a fixed percentage of the profit previously agreed upon with the client for managing the client funds as a bonus feature.

The most competitive trading conditions:

* 2 pips spread on six currency pairs.
* Providing online trading services without maintenance margin, margin call and no automatic closing of positions below the initial margin on weekdays for accounts with initial equity of up to $1 million US. The margin level have to be recognized Fridays at 23:00 CET and before public holidays.
* Leverages up to 1:200 for accounts up to $1 million US.
* Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.

Important Psychological Levels

FX day traders should be able to identify price areas where large order flows will be triggered through the interbank market,

and take advantage of the moves that are created by them.
Such levels include major areas of support and resistance on the daily chart and also round numbers such as double zeros - for example EUR/USD 1.2700.
Careful placement of stop loss and profit target orders enables the trader to execute trades with a strongly positive risk/reward factor.

For example, one might place a stop loss of 15 pips from the level and a profit target of 50 pips on the other side if you are attempting to profit from a bounce at such a level.
One should note that stop loss orders are normally placed somewhat beyond the key round figure numbers and profit taking orders are normally right at the key levels.
Attempting to catch a rebound off a major level is best executed when there are other technical factors supporting the rebound. For example if the market had been trading below its 20 period Simple Moving Average (SMA) prior to reaching the key level, this would support the decision to attempt to catch a rebound at that level.

[ForexGen Services]


Client Services

• Customer Support
• Trading Support

ForexGen Partnership

ForexGen offers three types of business partnerships.

* [Introducing Broker]
* [White Label]
* [Money Manager]

ForexGen Introducing Brokers ,White Label and Money Manager holders are recognized as a strategic business partners. The main focus of our service is to satisfy our partner's needs in order to deal with a qualified service and gain a large income sharing plan.

[ForexGen] provides appropriate services satisfying the needs of all business partner's specified situation and requirements.

US Dollar Index

The US Dollar Index (USDX) is a futures contract offered by the New York Board of Trade.

It is a trade-weighted average of six foreign currencies against the dollar. Currently, the index includes euros (EUR), Japanese yen (JPY), British pounds (GBP), Canadian dollars (CAD), Swedish kronas (SEK) and Swiss francs (CHF).

USDX broadly reflects the dollar's standing compared to the other major currencies of the world. It is widely used to hedge risk in the currency markets or to take a position in the US Dollar without having the risk exposure of a single currency pair.
The US Dollar Index allows the fx trader a feel for what is going on in the FX market globally at a glance. If the Dollar Index is trending lower, then it is likely that a major currency that is a component of it is trading higher.

[ForexGen Customer & Trading Support]

ForexGen Customer Service seeks to achieve the highest level of customer satisfaction.

[ForexGen online trading services] are available 24 hours a day from Sunday at 6:00pm EST to Friday at 2:00pm EST to support and offer the help needed by all ForexGen's clients through answering any questions they may have.
ForexGen provides full time assistances to support clients during the usage of [ForexGen platform], whenever our clients face any problems during downloading or installing the platform ForexGen experienced stuff will help to overcome it.

ForexGen provides clients with full scale demonstrations and help for the technical issues.

Dealing Rooms.

ForexGen dealing desk representatives are available during trading hours - 24/5 from Sunday 6:00pm EST to Friday at 2:00pm EST.

You are encouraged to contact the dealing room by phone ONLY in these situations:

* If you are not able to access the internet.
* Failing to receive a confirmation on an online order.
* Failing to connect to ForexGen server.

Forex Trading Strategies

Successfully trading the forex market on an intraday basis requires precision and a very careful selection of trades.

The enormous scope of the trillion dollar, 24 hour, globe spanning fx market presents a myriad of opportunities for the short term trader - however a day trader in this market must be aware of certain inherent factors to overcome.
Firstly, the bid ask spread in the fx market, normally at least 3 pips, makes trading on the shortest timeframe - in and out within seconds - very difficult.
The daily ranges can be very wide among certain currency pairs, presenting many opportunities for the day trader - however I feel that the intraday forex trader should look for specific technical and fundamental conditions before entering trades.

Secondly, due to the fact that there is currently no centralized exchange in the forex market, traders lack data on volume and open interest (the number of active contracts for a given security over a given time period)- important sources for traders in other markets - which causes a necessary shift in focus to other technical and fundamental factors.
While interbank dealers are able to see the order book and use this to their advantage, the retail fx trader can exploit their ability to react faster, and also with the knowledge that their trades will not move the market, as the trades of the larger institutions will.

The CME and Reuters are planning to launch a trading platform for fx in Q1 2007 - using CME trade matching and clearing technology - this will address the issues mentioned above (ie the spread will be tighter, you will be able to see volume etc.) and it will be interesting to see whether they can attract the liquidity and create a successful marketplace.
While both technical and fundamental analysis are important to the forex trader, we will begin with a focus on technicals.

[ForexGen Live Accounts Contest]

Trade, Compete, and Win - Begins the 1st of Every Month!
ForexGen has the pleasure to announce the launching of its first monthly Live Accounts contest,
This is NOT a demo contest

this is a live trading [competition] open for all live mini account holders. At the beginning of each month, the slate is wiped clean and traders have a new opportunity to win the monthly prizes.

What makes this contest unique?

All prizes are CASH prizes with no restrictions on withdrawing the prize money! How Do I Enter?
You don't have to pay any fee to enter this contest, all [ForexGen] mini Accounts with a balance of "$1000" and a default leverage of 1:200 are entitled to participate in this contest upon their account holder request by sending an e-mail request on live.contest@forexgen.com

For more information about our current and future promotions, kindly contact one of our customers support agents at promotions@forexgen.com

Using Fibonacci Retracements in Forex Trading

Retracement is a term used in technical analysis that refers to the likelihood that a currency's price will retrace a large portion of an original move and find support or resistance at the key Fibonacci levels before it continues in the original direction.

These levels are created by drawing a trendline between two extreme points and then dividing the vertical distance by the key Fibonacci ratios of 23.6%, 38.2%, 50%, 61.8% and 100%. Fibonacci retracement is a very popular tool used by many technical FX traders to help identify strategic places for transactions to be placed, target prices or stop losses. The notion of retracement is used in many other indicators such as the Elliott Wave theory, Tirone levels and Gartley patterns, .

[Why ForexGen]


1. Lowest spreads in the market with 0-1 pip spread in 10 pairs, no commissions, no swaps and instant account Activation.
2. Scandinavian quality with Swiss precision, funds secured and local agents in 18+ countries.
3. ForexGen offers Forex trading in the major currency pairs and crosses.
4. Low capital start, with $250 as a minimum account size.
5. Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.
6. [ForexGen] offers a free trial Forex [demo account] that allows you to test your skills and practice without risking real money.

Risk vs Reward

Clearly, there are large amounts of money to be made trading foreign exchange. The forex market is a game in which there are many experienced, well-capitalized, professional traders who do nothing else but trade currencies full time. An inexperienced retail trader has a significant information disadvantage compared to these traders. Retail traders are undercapitalized. In a fair game - one with no information advantages - between two players that continues until one trader goes broke - the player with the lower amount of capital has a highest likelihood of going broke first. Since the retail trader is effectively playing against the market as a whole - which has an almost unlimited supply of capital - he will almost certainly go broke.

The retail trader always pays the bid/ask spread making his odds of winning lower. Additional costs may include margin interest, or if a spot position is kept open for more than one day the trade must be "resettled" each day, costing the full bid/ask spread every day. Even people running the trading shops warn clients against trying to time the market.
The retail brokers encourage individual traders to trade extremely large positions by offering high leverages, sometimes as high as 200:1. This increases the trading volume cleared by the broker, therefore his profits, but increases the risk that the trader will receive a margin call or a closed account. Professional currency dealers - banks, hedge funds et al, rarely use more than 10:1 leverage.

The US government regulating body for the Foreign Exchange Market the “National Futures Association” warns traders in a Forex Training presentation of the risk in trading currency. “As stated at the beginning of this program, off-exchange foreign currency trading carries a high level of risk and may not be suitable for all customers. The only funds that should ever be used to speculate in foreign currency trading, or any type of highly speculative investment, are funds that represent risk capital; in other words, funds you can afford to lose without affecting your financial situation.”

[ForexGen Live Account]

The live/real account is provided to those clients who may have some experience in the online trading.

[Opening an Account Online]

The quickest, easiest and secure way to open a ForexGen trading account is online.
Complete and submit your application online in just a few minutes.

ForexGen.com is an online trading service provider supplying a unique and individualized service to Forex traders worldwide. We are dedicated to absolutely provide the best online trading services in the Forex market.

ForexGen provides a unique online trading experience based on our intelligent online Forex trading package, the ForexGen Trading Station, including the best online trading system.