Forex Trading Blog

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This is my gbp/usd intraday trading idea based on data from technical analysis resources I mentioned before. I make use the daily pivot data which is written in today’s signal post. However this is different with the free forex signal. So please, don’t confuse both of them. Mizuho technical analysis: Market is sideways. Suggested strategy is [...]

This is my gbp/usd intraday trading idea based on data from technical analysis resources I mentioned before. I make use the daily pivot data which is written in today’s signal post. However this is different with the free forex signal. So please, don’t confuse both of them.

Mizuho technical analysis:
Market is sideways. Suggested strategy is to attempt long at 1.6590 with first profit target at 1.6800.

Danske technical analysis:
Market is sideways. Suggested strategy is to attempt long if price break 1.6730 with first profit target at 1.7235

Ino MarketClub Trend analysis:
A downtrend is underway (score -85)

Sideways market is usually a sign of possibly trend reversal. Based on above data I’m expecting a downtrend.

At the time I write this, gbp/usd price was ranging around 1.6590. It got support at about 1.6674 and resistance at about 1.6514.

My intraday trading idea is to attempt buying (buy stop) at 1.6595 with stop at 1.6514 and profit target at 1.6674 (or probably follow the flow to 1.6800). I will attempt to sell if price breaks 1.6514. The stops will be at 1.6590 and profit target will be at 1.6440 (or probably follow the flow to south).

Please note that this is just a trading idea,  I do not execute  trade solely based on this. I write this in purpose to show you (especially novice traders) about how I make use the free technical analysis data for my intraday trading.

Intraday Trading Idea 30-10-2008

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Forexyard, another forex broker offering micro account. Forexyard name it SuperMini Account, this account type requires as low as US$100 minimum deposit and allow you to trade as low as 0,01 lot (micro lot). The other type of account available on Forexyard is Standard Account which is actually a Mini Account in common sense. Minimum deposit [...]

Forexyard, another forex broker offering micro account. Forexyard name it SuperMini Account, this account type requires as low as US$100 minimum deposit and allow you to trade as low as 0,01 lot (micro lot).

The other type of account available on Forexyard is Standard Account which is actually a Mini Account in common sense. Minimum deposit required for this account type is US$1,000. Well, there is no open statement about this on Forexyard site, I got this information from Forexyard representative. As this is a Mini Account, the minimum trade size available is 0,1 lot (equal to 10,000 contract size).

For both account-types Forexyard offers 3 choices of leverage: “25:1″, “100:1″ and “200:1″. As common, you chose the leverage within the registration process.

I like what this forex broker says about trading with micro account;

The SuperMini account is ideal for Accounts under $1,000

FOREXYARD recommends that all traders with account balances less than $1,000 trade a SuperMini account. This gives you more staying power in the market, and the ability to take advantage of multiple opportunities without over-leveraging your account. If you over-leverage your account you will not give yourself room for error. Even if you are correct on the direction of the market, minor fluctuations can generate a margin call and liquidate a good position.

This forex broker doesn’t provide Metatrader as a choice of trading software. Instead, Forexyard provides their own trading platform; one is Windows platform and the other is Java platform. You can use both of them. Below is captured image from Forexyard windows trading platform:

As of April 2008 Forexyard promote their “100% Cashback” program. Forexyard give new clients additional deposit in a sum equal to their initial deposits. If your initial deposit is USD100, Forexyard will add USD100 into your balance. That’s it, your money doubled. You can get this special promo by registering here.

Forexyard Headquarters

FxYard Limited
Diagorou, 4
Kermia Building, 1st floor, Flat Office 103
P.C. 1097, Nicosia
Cyprus

I have no personal experience with Forexyard. If you have any experience with this fx broker, please kindly share and discuss Forexyard here.

Forexyard

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