Futures and Forex News and Research
Important Information for Currency and Commodity Traders

Independence Day Trading Calendar

June 30, 2009 00:37 by futsblog

Independence Day Trading Schedule
* All times listed in Central Time


Thursday, July 2

CME Group
Floor: Regular Close

GLOBEX
Regular Close (Includes NYMEX/COMEX contracts traded on Globex)
* Regular evening open
(Exceptions: Commodity, GSCI and Weather products will remain closed until 5:00 pm on Sunday / Grain products will remain closed until 6:00 pm on Sunday / TRAKRS, Dow AIG ER and ETF products will remain closed until their regular scheduled open on Monday)

NYMEX/COMEX
Floor: Regular Close

ICE
3:15 pm Close: Financial and Index products
* All other products regular close

EUREX
Regular Close

OneChicago
Regular Close

NYSE
Regular Close

Friday, July 3

CME Group
Floor: Closed

GLOBEX
Closed
10:30 am Close: Equity products
12:00 pm Close: Interest Rate, Foreign Exchange, Real Estate, Forestry and Financial products
12:30 pm Close: NYMEX/COMEX/DME products
* Regular evening open on Sunday, July 5

NYMEX/COMEX
Floor: Closed

ICE
10:30 am Close: Index Products
12:00 am Close: Finacial Products
Closed: Softs and Open Outcry Products

EUREX
Closed: US and Weather Derivatives

OneChicago
Closed

NYSE
Closed

*All times listed in Central Time

The above calendar is compiled from sources believed to be reliable. PFGBEST assumes no responsibility for any errors or omissions. It is meant as an alert to events that may affect trading strategies and is not necessarily complete. The closing times for certain contracts may have been rescheduled.



Be the first to rate this post

  • Currently 0/5 Stars.
  • 1
  • 2
  • 3
  • 4
  • 5

sunspot chart

June 16, 2009 04:19 by futsblog

Does sunspot activity affect crops?  It certainly increases the odds for reduced crop production due to less than ideal growing conditions.


Be the first to rate this post

  • Currently 0/5 Stars.
  • 1
  • 2
  • 3
  • 4
  • 5
Tags:
Categories:
Actions: E-mail | Permalink | Comments (1) | Comment RSSRSS comment feed

Crops Stressed while temperatures remain cool on average

June 16, 2009 04:15 by futsblog

Crops under stress as temperatures fall

This article was found at the UK telegraph website and I thought it was at the very least thought provoking.

For the second time in little over a year, it looks as though the world may be heading for a serious food crisis, thanks to our old friend "climate change". In many parts of the world recently the weather has not been too brilliant for farmers. After a fearsomely cold winter, June brought heavy snowfall across large parts of western Canada and the northern states of the American Midwest. In Manitoba last week, it was -4ºC. North Dakota had its first June snow for 60 years.

There was midsummer snow not just in Norway and the Cairngorms, but even in Saudi Arabia. At least in the southern hemisphere it is winter, but snowfalls in New Zealand and Australia have been abnormal. There have been frosts in Brazil, elsewhere in South America they have had prolonged droughts, while in China they have had to cope with abnormal rain and freak hailstorms, which in one province killed 20 people.

None of this has given much cheer to farmers. In Canada and northern America summer planting of corn and soybeans has been way behind schedule, with the prospect of reduced yields and lower quality. Grain stocks are predicted to be down 15 per cent next year. US reserves of soya – used in animal feed and in many processed foods – are expected to fall to a 32-year low.

In China, the world's largest wheat grower, they have been battling against the atrocious weather to bring in the harvest. (In one province they even fired chemical shells into the clouds to turn freezing hailstones into rain.) In north-west China drought has devastated crops with a plague of pests and blight. In countries such as Argentina and Brazil droughts have caused such havoc that a veteran US grain expert said last week: "In 43 years I've never seen anything like the decline we're looking at in South America."

In Europe, the weather has been a factor in well-below average predicted crop yields in eastern Europe and Ukraine. In Britain this year's oilseed rape crop is likely to be 30 per cent below its 2008 level. And although it may be too early to predict a repeat of last year's food shortage, which provoked riots from west Africa to Egypt and Yemen, it seems possible that world food stocks may next year again be under severe strain, threatening to repeat the steep rises which, in 2008, saw prices double what they had been two years before.

There are obviously various reasons for this concern as to whether the world can continue to feed itself, but one of them is undoubtedly the downturn in world temperatures, which has brought more cold and snow since 2007 than we have known for decades.

Three factors are vital to crops: the light and warmth of the sun, adequate rainfall and the carbon dioxide they need for photosynthesis. As we are constantly reminded, we still have plenty of that nasty, polluting CO2, which the politicians are so keen to get rid of. But there is not much they can do about the sunshine or the rainfall.

It is now more than 200 years since the great astronomer William Herschel observed a correlation between wheat prices and sunspots. When the latter were few in number, he noted, the climate turned colder and drier, crop yields fell and wheat prices rose. In the past two years, sunspot activity has dropped to its lowest point for a century. One of our biggest worries is that our politicians are so fixated on the idea that CO2 is causing global warming that most of them haven't noticed that the problem may be that the world is not warming but cooling, with all the implications that has for whether we get enough to eat.

It is appropriate that another contributory factor to the world's food shortage should be the millions of acres of farmland now being switched from food crops to biofuels, to stop the world warming, Last year even the experts of the European Commission admitted that, to meet the EU's biofuel targets, we will eventually need almost all the food-growing land in Europe. But that didn't persuade them to change their policy. They would rather we starved than did that. And the EU, we must always remember, is now our government – the one most of us didn't vote for last week.


Be the first to rate this post

  • Currently 0/5 Stars.
  • 1
  • 2
  • 3
  • 4
  • 5
Tags: ,
Categories: Futures
Actions: E-mail | Permalink | Comments (0) | Comment RSSRSS comment feed

PFGBEST MT4 ECN has 28 currency pairs with mini lots

June 16, 2009 01:59 by futsblog
PFGBEST has 28 currency pairs that traders are able to trade mini lots 0.10, half-standard 0.50 and standard lots 1.00 in the same account providing the account has sufficient margin.  Margin is 100:1. The MT4 ECN has 9 major banks providing their best bid and offers on all 28 pairs. The ECN then pulls the best bid and offer in each currency pair and displays this information for the forex trader.  With PFGBEST's proprietary MT4 ECN bridge the banks do not see any pending orders of the forex traders. The bridge acts as a blockade allowing forex traders to trade using EAs or "Robots". For more information visit www.pfgbestdirect.net/mt4.htm

Be the first to rate this post

  • Currently 0/5 Stars.
  • 1
  • 2
  • 3
  • 4
  • 5

MT4 ECN Uses the Forex Heatmap

May 28, 2009 04:24 by futsblog

Step By Step Guide to Using The Forex Heatmap (TM)


This presentation was made at the International Traders Expo in June of 2009.

This is
The Forex Heatmap (tm)

The forex heatmap is the premier entry management system for your spot forex trade entries.

It verifies all of your trade entries on over 20 currency pairs.

It is a real time indicator, tick for tick, and is on all of the time during the market from Sunday night until Friday and the
GMT clock is on top.

Its arranged by parallel and inverse groups. The eight major pair families, USD, CHF, EUR, JPY, GBP, AUD, CAD, and NZD pairs are
grouped together.

There are 20 currency pairs on the forex heatmap, each pair is in two slots for 40 total entries. For example the
EUR/USD is in the EUR group and USD group.

The forex heatmap instantly spot pockets of strength and weakness in the forex market. It is a visual map of the forex and easy to interpret, even for new traders. It consolidates information from 20 currency pairs into a visual map for quick decision making.

You can
refresh the forex heatmap by hitting the F5 button on your keyboard or right clicking on the browser and clicking on "reload".



How To Read The Forex Heatmap
GBP strong CHF weak buy GBP/CHF

GBP weak CHF Strong sell GBP/CHF

Both strong dont trade, both weak dont trade.

Transfer this logic to any pair



Example Heatmap Configurations

USD/CHF buy example.

GBP/JPY buy example.

EUR/JPY buy example.

Mixed Signals example.


Putting The Heatmap Into Context

1. Know the direction of the primary trend of a currency pair

2. Set price alarms at critical support and resistance

3. Monitor the news calendar for volatile news announcements

4. When alarms go off and the volatile news items hit check the heatmap for entry verification



At Forexearlywarning we prepare trading plans that follow steps 1-4 every day across 22 currency pairs, and all of our clients have access to the live heatmap on the web. Our clients love the forex heatmap and they know it is a strong trading tool. At Forexearlywarning we write trading plans based on market trends and we tell you where to set the price alarms. We also have a 30 day free trial.

The Forex Heatmap comes with a complete learning materials package including videos, an image library and a full tutorial are available.

Acknowledgement


We would like to thank our tradeshow partner, PFGBest. They offer several trading platforms including the Metatrader4 ECN platform that facilitates the use of the free trend indicators we use at Forexearlywarning.

In summary the forex heatmap is a real time visual tool that verifies your spot forex trade entries, it is unique, but simple and it works. After about 30 days of papertrading you should be be able to start with small amounts of of real money. The forex heatmap will dispel alot of myths people have been taught about the forex and it will teach you that there is no indicator better than the forex market itself.



Mark Mc Donnell
Forexearlywarning
The Forex Heatmap


Be the first to rate this post

  • Currently 0/5 Stars.
  • 1
  • 2
  • 3
  • 4
  • 5

PFGBEST Acquires Alaron Customer Assets

May 21, 2009 02:21 by futsblog

PFGBEST Acquires Alaron Customer AssetsCHICAGO, May 21, 2009 – PFGBEST® today announced it is purchasing the customer assets of Alaron. It will be formed into a new division called ATD, a division of PFGBEST.Both companies have been leaders in the futures industry for 20 years, through the evolution of online trading that helped level the playing field for retail futures market participants even as institutional use of futures, options and forex for risk management continued to grow exponentially.PFGBEST will transfer Alaron customer accounts as seamlessly as possible. Financial details of the transaction were not disclosed.“There are so many synergies, and we believe there will be significant benefits to Alaron customers,” said PFGBEST President and Chief Operating Officer Russ Wasendorf, Jr.  He said Alaron and PFGBEST share a timeline as powerhouses in retail futures trading. “Alaron was founded in 1989 and PFGBEST (formerly PFG, Inc.) was incorporated in 1990. This is a marriage of two family businesses that stake their reputation on providing personal, professional and courteous customer service, believe in the need for ongoing education, and offer research and innovation in trading products, systems, and multi-asset-class and alternative investment choices for individual and institutional investors.”Steven Greenberg, CEO, President and Chairman of the Alaron Board of Directors, stated that there are compelling reasons why futures and options customers, brokers, and prospects will see multiple benefits from the joining of the two companies.  “Both Alaron and PFGBEST have been advocating on behalf of retail futures market participants for 20 years. The ability to leverage PFGBEST proprietary online trading systems, free to all customers, is an important win:win for Alaron brokers and customers. Now, multiple electronic trading platforms spanning futures, forex, and options – coupled with a unique suite of managed accounts and managed forex products – enhance opportunities for portfolio diversification for our combined client base.” About PFGBEST:

PFGBEST is the second-largest non-clearing U.S. Futures Commission Merchant, with customers, affiliates and brokerage offices in more than 80 countries. It was incorporated as an FCM in 1990 under the name PFG, Inc.  It offers a range of trading and investor products and services for retail investors as well as for commercial and institutional clients. The company is a leader in sustainable investing through diversified products including managed funds, futures, forex, options, full-service and discount brokerage, trader education, research, and direct online futures trading through its BESTDirect™ platform, and numerous other platforms and applications.  Please visit www.pfgbestdirect.net

 About Alaron:Alaron, founded in 1989 in Chicago, provides electronic and pit-based futures trading and asset management services to institutions and retail clients on five continents. Alaron built upon its core business by integrating global trading systems and analysis techniques used by professional traders. Its suite of products and services spans execution and account management tools, and important proprietary research.  Alaron is synonymous with customer service, investor education, and electronic innovation, including analytics software.
Media contact: Patricia Campbell, 312-775-3411, pcampbell@pfgbest.com

Be the first to rate this post

  • Currently 0/5 Stars.
  • 1
  • 2
  • 3
  • 4
  • 5
Tags:
Categories: Forex | Forex Brokers | Futures
Actions: E-mail | Permalink | Comments (3) | Comment RSSRSS comment feed

Memorial Day Trading Schedule

May 19, 2009 09:07 by futsblog

PFGBEST® Customer Notice
Memorial Day Trading Schedule
* All times listed in Central Time

Friday, May 22
CME Group
Floor:
12:00 pm Close: Foreign Exchange and Interest Rate products
* All other products regular close

GLOBEX
3:15 pm Close: Foreign Exchange, CBOT Financial, CME Interest Rate, GCSI, NYMEX/COMEX/DME products on Globex, GCSI and Forestry products
* All other products regular close

NYMEX
Floor:
Regular Close

NYMEX Electronic Trading
Regular Close

ICE
12:00 pm Close: Financial Products (open outcry)
3:15 pm Close: Financial and Index products
Regular Close: Soft products

EUREX
Regular Close

OneChicago
Regular Close

NYSE
Regular Close


Sunday, May 24
CME Group
Floor:
Closed

GLOBEX
* Regular evening open (excluding: CME Commodity, GSCI, Weather, CBOT/KCBT/MGEX Grains, CBOT Ethanol, TRAKRS, Dow AIG ER and ETF products)

NYMEX
Floor:
Closed

NYMEX Electronic Trading
* Regular evening open

ICE
* Regular evening open (excluding: Soft products)

EUREX
Regular Close

OneChicago
Closed

NYSE
Closed


Monday, May 25
CME Group
Floor:
Closed

GLOBEX
10:30 am Close: Equity products
12:00 pm Close: Foreign Exchange, CBOT Financial, CME Interest Rate, Real Estate and Forestry products
12:15 pm Close: NYMEX/COMEX/DME products on Globex
* Regular evening open for trading date of Tuesday, May 26 for all GLOBEX products

NYMEX
Floor:
Closed

NYMEX Electronic Trading
Regular Close

ICE
Closed: Soft and open outcry products
10:30 am Close: Index products
12:00 pm Close: Finacial products

EUREX
Closed: US Equity Derivatives

OneChicago
Closed

NYSE
Closed


*All times listed in Central Time
The above calendar is compiled from sources believed to be reliable. PFGBEST assumes no responsibility for any errors or omissions. It is meant as an alert to events that may affect trading strategies and is not necessarily complete. The closing times for certain contracts may have been rescheduled.

 


Be the first to rate this post

  • Currently 0/5 Stars.
  • 1
  • 2
  • 3
  • 4
  • 5

Technical Analysis The Gartley Pattern and Japanese Candlesticks

May 12, 2009 04:01 by futsblog

The Gartley Pattern and Japanese Candlesticks

Last week we discussed how to enter the market once a Gartley pattern is complete. We considered using a X bar reversal method and using the exact Fibonacci retracement level method. This week we will consider entry with Japanese candlesticks.

For those of you that have skill interpreting candlestick charts, candlestick patterns can be used for entry signals when a Gartley pattern completes. At this point we assume that you have at least a basic knowledge of Japanese candlestick charting. If not, have a look on the internet for the many free educational resources to learn about Japanese candlesticks.

An example of a Japanese candlestick pattern would be the two bar Harami pattern. The first candlestick of a bullish Harami pattern is called the mother. The closing price of the mother candlestick is below the opening price. The range between the opening price and the closing price of the candlestick is referred to as the real body and in this case would typically be colored black or red on the chart. The next candlestick of the Harami pattern is referred to as the baby. The opening price of the baby is lower than the closing price and in this case the color of the baby’s real body is white or green. The important point of this pattern is that the real body of the baby is "inside" of the real body of the mother, thus the name Harami! In addition as the range of the market is getting narrower, it is having a "contraction!" In other words the range between the open and the close of the second bar has to be within the range of the open and the close of the bar immediately preceding it. The Harami is just one example of the many candlestick patterns that one could use to enter the market after the completion of a Gartley pattern.

For example, if we were to use a Harami candlestick reversal on a bullish Gartley pattern we would use the following steps…

1) Wait for the market to touch our Fibonacci retracement level.

2) Wait for the completion of a Harami candlestick pattern.

3) Buy one point above the high of the "mother". Place your stop one point below the low of the mother.

If you have a preference for certain Japanese candlestick patterns versus others, make sure that the candlestick patterns that you choose to use for entering the market are clearly identified in your trading plan.

 for more information visit www.gartleytrader.com


Be the first to rate this post

  • Currently 0/5 Stars.
  • 1
  • 2
  • 3
  • 4
  • 5

What is a Forex ECN and why a ECN is better for Forex Scalping

April 23, 2009 06:17 by futsblog

What is a Forex ECN and why a ECN is better for Forex Scalping

 

A Forex trader looking to scalp the markets really needs to have as many factors tilted in his/her favor to have a chance in the long term. In addition to the markets posing its short term obstacles many scalpers also must worry about the firm they are trading with taking the other side or imposing scalping restrictions.  The solution for most of these traders is to look for a Forex ECN provider. Which begs a two part question, what is a Forex ECN? Why is an ECN better for Scalping?

 

What is a Forex ECN?  The acronym ECN stands for Electronic Communications Network. A true forex ECN will have multiple liquidity providers giving their best bid and offers on currency pairs. The ECN will aggregate the best bid and offer on a pair for the forex trader. The more liquidity providers the better the spreads will be for the trader. Does this mean it will be the tightest spread? Not necessarily, as most traders are aware of “Teaser” rates which imply a small tight spread but widen as a non true ECN environment deems it necessary, such as off hours or volatile periods. A bona fide Forex ECN will have a better chance of showing tighter spreads during off hours and volatile periods. An ECN will also provide anonymity for the trader. The bridge between the liquidity providers and the traders will allow for pending orders to not be seen by the liquidity providers.  If you are trading in a dealing desk environment the company you are trading at is trading against you. Do you think it is human nature to “peek” and see where orders are? Do you think it is in the dealing desks best interest to make money for them?  

 

This leads us to the 2nd part of our question, why is a Forex ECN is better for scalping? Liquidity = trader friendly spreads. When trading on an ECN and you buy a currency pair, one of the multiple liquidity providers takes the other side of your trade. The other liquidity providers do not have a vested interest on that trade. So when you go to close out that trade, there is a good chance that when you sell the currency pair you were long it most likely will be one of the other liquidity providers taking the other side.  So an ECN with multiple liquidity providers keeps currency pair spreads more favorable for the forex trader.

 

If you are a Forex Trader who scalps then you should look for the answers to the following questions

1)      Does the Forex Broker take the other side of your trades?  (If yes not an ECN)

2)      Does the Forex Broker hedge against your trades? (If yes not a true ECN)

3)      If the Broker has an ECN platform does it have more than 1 liquidity provider (If no then not a true ECN)

4)      How many liquidity providers does the ECN have? (the more the better)

5)      Is the Forex Broker regulated in any capacity (If you have problems it is better for you if the Broker is regulated)

  

J. Peter Slaga is a manager for PFGBEST. PFGBEST is an MT4 ECN Forex Broker with 9+ banks providing liquidity.  You can find out more information by visiting www.pfgbestdirect.net/mt4.htm

 

There is a substantial risk of loss in trading.


Be the first to rate this post

  • Currently 0/5 Stars.
  • 1
  • 2
  • 3
  • 4
  • 5

Technical Analysis -Gartley Pattern

April 22, 2009 02:31 by futsblog

The Gartley pattern, in the context of the original and modern versions, is simply a trend move
followed by a countertrend move. According to Elliott Wave theory, the counter trend move is
made up of overlapping waves, unlike the initial impulse that precedes it. This countertrend
move is what R.N. Elliott identified as the most common corrective wave structure. He referred
to it as the “Simple ABC Zigzag Correction.” What does this look like?
A simple ABC correction is made up of three waves. The first wave labeled A is the initial
counter trend leg that follows and impulsive trend move. The second wave labeled B is a
retracement of the first leg, however this retracement will not exceed the beginning of the ABC
correction. The third leg will take out the end of the wave A and will terminate at Fibonacci
extension level of 100% (where the price range of wave A and the price range of wave C are
equal to each other.) In the original Gartley material, there is no discussion of this type of
correction. This is all that Gartley said, “And when a minor decline, after cancelling a third to a
half of the preceding minor advance (B-C) comes to a halt, with volume drying up again, a real
opportunity is presented to buy stocks, with a stop under the previous low.”
Some Gartley traders have created additional unnecessary rules in regard to the “minor
decline” that Gartley referenced above. Does the end of wave A have to terminate at the 61.8%
Fibonacci retracement? Does the end of wave B have to complete on a Fibonacci retracement?
In my opinion the answer is no. The most important modern improvement of the Gartley
pattern in regard to the corrective section of the pattern is the equality of the price range of
wave a and wave c. This symmetry of the two waves can be seen in many other classical
technical patterns such as flags, pennants and triangles. After a breakout from these patterns,
the market will often run about the same length as the wave that precedes the consolidation
part of the pattern.

www.gartleytrader.com

there is a risk of loss in trading


Be the first to rate this post

  • Currently 0/5 Stars.
  • 1
  • 2
  • 3
  • 4
  • 5
Tags:
Categories: Forex | Futures
Actions: E-mail | Permalink | Comments (0) | Comment RSSRSS comment feed