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Another outbreak? Experts warn of flu scams Reuters - Susan Heavey By Susan Heavey WASHINGTON, May 1 (Reuters) - Health officials are warning the public about another, less serious outbreak: a rise in flu-related scams, including a growing number of hoaxes. Video: H1N1 Virus WTNH Putting Swine Flu in Perspective WebMD The Associated Press - Chicago Tribune - Xinhua - Detroit Free Press all 3,038 news articles

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I thought it was highly interesting the correlations between the Forex Market and this recent outbreak of Swine flu.  It seems that though Mexico was hit hardest by this latest epidemic of flu, the Mexican peso was largely unphased.  I even tried to demo a trade of USD/MXN and it just went against me almost 500 points in a few minutes! Completely unbearable and unpredictable especially considering the spread on that pair is over 100 pips for me!   So, if anyone has any strategy for trading the Peso versus the USD I’d love to hear it.

Stay safe from the Swine Flu Blues everyone!  :)

EURUSD - Euro Forecast Bullish Against US Dollar USDJPY - Japanese Yen Outlook Shifts on Major Price Moves GBPUSD - Forex Trading Systems Indecisive on British Pound USDCHF - Swiss Franc Expected to Rally Versus US Dollar USDCAD - Canadian Dollar Forecast Bullish Against US Dollar

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It’s interesting to see that the Canadian dollar is doing well in the current environment considering the central bank of Canada just cut the key target interest rate to 0.25% this week.  Even though this matches the USD, I’m surprised to see the CAD not experience a huge selloff like in years past.

This question has haunted me ever since I first heard of Forex AutoPilot, does FAPS really work or is FAPS just another elaborate marketing scheme set up by people who know more about selling products than trading Forex? I had come to learn that making an Expert Advisor was not very difficult. You can actually open up and edit EA’s to see how these EA’s are made exactly. Based on this revelation, I then thought it would be quite easy to “hype up” this EA you had just created touting its amazing abilities and prove it by showing you backtests. But does FAPS work with real money? Does it trade effectively on auto pilot with real money in a broker, trading live? It’s a question I can now help everyone answer, because I have just become the owner of Forex Auto Pilot Turbo. FAPS, the predecessor to FAPS Turbo is available for free almost anywhere you look, Torrents, Rapidshares, Many file downloading sites… but FAPS Turbo I actually had to buy because its available nowhere for free.

I forget where I first heard of FAPS Turbo but I truly have been interested ever since that moment in testing out the amzingly profitable Forex Bot myself. There have been oh so many sites “reviewing” FAPS Turbo but what is their motivation for doing so? I can tell you, I just want to see if it works half as well as “people” say it do.

Right out of the box I added the EX4 to EURUSD, EURJPY, GBPUSD, and AUDUSD charts and will let this run on a $1,000,000 Demo Forex account at FXDD. I will be testing out Faps Turbo on two EURUSD charts, once with the default settings of 500pip stop loss and a slight modification of 100 Pips Take Profit level. 

The second setting I will FAPS Turbo with a setting of 50Pips Take Profit and 50Pips stop loss and a 20pip trailing stop. Part of me just cringes at any system “needing” a 500Pip stop loss for any reason, unless you have millions covering your account, I just don’t see how its plausible. Maybe one can correct me on this. I believe the default settings for FAPS Turbo needs to include a trailing stop. With other bots and EA’s I’ve experienced amzingly high winning trades only to see the same trades result in losses because there was no trailing stop employed in the settings. Alternatively you can add your own trailing stop by right clicking on a chart in MT4 and selecting the trailing stop you’d like to set.

At any rate, I hope to return some good news to you all by tomorrow evening about Forex Auto Pilot being an awesome forex system. I do fret, however, that the FAPS Turbo bot will be another smelling pile of poo. Not to be too judgemental, but the only people I see giving it good reviews are those who have a vested interest in seeing a positive light be cast upon the bot. These people namely being other clickbank members (beside myself) who are earning $50 for referring you to them. Hell, I won’t turn down free money and would also refer you to FAPS Turbo, ONLY IF IT WORKS FOR ME. I give you this much.

Very interesting article I thought I should share with you all about Forex Brokers and Leverage.  Basically the entire gist of the article from Forbes alludes to the idea you shouldn’t be bedazzled by offers of high max leverage in forex trading. Consequently High Leverage benefits your broker more than you.  Always remember that your broker makes money even if you do not.  

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This is the best deal I’ve seen come accross from the folks over at Investtech, makers of Pip Boxer and Grid Boxer EA’s for Mt4.  These EA’s help identify logical ranges based on statistical volatility.  You can buy these EA’s for one currency at a time, OR, buy the complete package.  Well, until March 15, 2009, you can receive the entire package of both GridBoxer and PipBoxer at 63% off the original price.

There was a time I just could not afford this package let alone a multitude of these EA’s individually.  Now, I can totally afford this, since I made at least 380 pips this month alone, I can afford purchasing Pip Boxer and making even more pips on AUTO PILOT!   It’s sad that the sale ends March 15, so get your copy TODAY before it’s too late.

 I had a chance a year ago to try out Pip Boxer, I paid for a demo, $5 or $10, and it really did work.  My only concern was I didn’t have enough money to actually buy these EA’s individually or in a package.  I could never decide which EA to get for what pair, which is my own personal problem of failing to make a committment, ask my ex-girlfriends.  But in all seriousness, I just have enough to actually purchase PipBoxer and GridBoxer in a package deal for $999 (a savings of over $1700).  

How I plan on using PipBoxer and Gridboxer is to set them up on at least 10 different currencies accross 10 different charts for a few weeks on demo mode.  I would like to see which system works the best with the settings Investtech recommends, then, finely tune it to my own style of trading with respect to money management, logical stops, and pivot points, which the software does not take into account.  PipBoxer isn’t the be all end all system, but it really takes alot of the guesswork out of trying to find out where a good entry and exit is, not where it “might” be.  This EA can help you trade live, or just give you alerts, but this can be considered an automated forex bot/ system.  

You won’t find PipBoxer or Gridboxer free anywhere on any sharing sites, each copy is activated one by one ensuring the integrity of your investment.

PIPBOXER GRIDBOXER DISCOUNT

I did not enter this trade, merely watched it fly into the statosphere, kicking myself after each resumption of the upward trend after each pullback occured. Darn, maybe next time I should have a little more confidence with this pair, even though my spread is 6 pips.

Well, it looks like Non Farm Payroll jobs lost another 800k jobs last month, raising the unemployment rate to over 8% for the first time since the 1980’s.  I This downward spiral of uncertainty led way to a massive USD selloff after the announcement, only to be followed by a massive GBP selloff a few hours later.  I just watched the GBP/USD drop like a rock over 200 pips in an hour.  Something out there really has got traders startled, the sideways action for most of the day really has a lot of traders sitting out the sidelines until confirmation is more apparant.

Hopefully Obama can get more jobs in the hands of Americans posthaste.

In theory, all market data shows areas of support and resistance resulting in more activity in terms of buying and selling around such areas.  Some natural areas of support and resistance are certainly whole numbers on a chart. A whole number on GBP/USD could be considered 1.5000, an area where many traders might think it is a good sell and will set their profit targets there.  This might set off a huge downtrend if trader after trader acts the same way.  So, these points again are not “magical” what makes them work is that a mass of other traders use them too.  This is much like the reasoning why Fib targets work, simply because so many large traders and trading institutions trade off of them in concert.

Specifically support is a point where price moves downward to and rebounds off of, indicating buying of the pair, and even some times reversal of a downtrend.  You might here people say, the pair went down and “found support” at 1.4200, meaning there was much interest in owning GBP at this price.

On the other hand, when price is moving upward and hits a point and rebounds downward, indicating selling of the pair.  This can also stall and reverse an upward trend where traders have set their take profit level.  This is a point where buyers are typically staying out of the trade and sellers have stepped in to make a profit.

I’ve identified a few areas of support and resistance we should add to our charts:
1) Whole Numbers, not always something that will reverse a trend, but almost always becomes an area where traders have set stops and take profit levels, resulting in increased buy/sell activity.
2)  Monthly Pivot
3)  Weekly Pivot
4)  Daily Pivot
5)  Previous Day’s High/Low
6)  Previous Week’s High/Low
7)  Previous Month’s High/Low
8)  Fibonnaci Levels,  this is something you need to constantly draw on your charts, or use a Fibonnacci Expert Adviser, but I tend not to trust Fibs I did not draw myself.  These are levels that are routinely traded off of by major trading institutions and big forex traders.  So to ignore Fib levels is to really be operating without knowing where large traders are looking to get in or out.

Support and Resistance with Top Gun Software

I’m also working on an article enumerating the many Support and Resistance levels that are employed with custom Top Gun Software indicators, unique to only that program.  There are many different indicators that are based on mathematical statistics with respect to price volume and how much a pair has moved statistically over a certain period of time.  My new favorite indicator is the “CONTAINMENT BAND INDICATOR” which purportedly averages how much a pair has moved over the last 20 days and draws a containment band on your chart with a midpoint line that acts as a 60min moving average.  Typically price will touch the outer edge of this band and meet major resistance or support and signals the end of that trend.