Month: September 2012

By TraderVox.com

Tradervox.com (Dublin) – US Non-Farm Payrolls and ECB’s bond-buying programs were the biggest market influencers last week. With volatility back into the market, investors will be looking at the US for the QE3 program and Germany as the ruling on legality of European Sustainability Mechanism facility. Here is a brief overview of major events this week.

Tuesday 11

The US Trade Balance will be the first major report this week at 1230hrs GMT. Last month data showed that the US trade deficit declined by most in eighteen months in June, shrinking to $42.9 billion from a May figure of $48 billion. Economists are expecting this figure to rise to $44.2 billion for July when this report is released.

Wednesday 12

There will be two major reports on this day, -the UK employment data and the New Zealand Rate Decision. The previous UK employment report showed a decline in the number of people claiming unemployment, dropping by 5,900; this caused a decline in unemployment rate to 8.0 percent. The market is expecting an increase of 100 claims on this report to reach 6,000. The market is expecting the Bank of New Zealand to keep the current interest rate of 2.50 percent.

Thursday 13

There will be five major events on this day. First, at 0730hrs GMT, the SNB Rate Decision will be announced. With the euro strengthening against the franc, the central bank will have little pressure to defend its cap. The market is expecting the rates to remain between 0.0 percent and 0.25 percent. The US PPI data will be released at 1230hrs GMT where the market expects the index to climb to 1.2 percent from 0.3 increase registered in July. The US Unemployment Claims will be released at the same time where a rise to 370,000 is expected. Staying in the US, the US rate decision will be announced at 1630hrs after the FOMC meeting. While the policy makers in FOMC are expected to consider QE3, extending guidance is a more likely outcome from the Fed. The market will be evaluating Fed Chairman Ben Bernanke’s speech after the meeting.

Friday 14

US data will carry the day of Friday with the first report being the US Inflation Data released at 1230hrs together with US Retail Sales. The consumer prices were unchanged in July. The market had predicted a rise of 0.2 percent which was similar to previous four months result. This time round the market is expecting a rise of 0.5 percent while the core CPI is expected to increase by 0.2 percent. The US Retail Sales is expected to increase by 0.7 percent. Third major report on this day will be the US UoM Consumer Sentiment report which will be released at 1355hrs GMT. The report is expected to show an increase to 74.1 from 73.6 registered last month.

Disclaimer
Tradervox.com is not giving advice nor is qualified or licensed to provide financial advice. You must seek guidance from your personal advisors before acting on this information. While we try to ensure that all of the information provided on this website is kept up-to-date and accurate we accept no responsibility for any use made of the information provided. Opinions expressed at Tradervox.com are those of the individual authors and do not necessarily represent the opinion of Tradervox.com or its management. 

Article provided by TraderVox.com
Tradervox.com is a Forex News Portal that provides real-time news and analysis relating to the Currency Markets.
News and analysis are produced throughout the day by our in-house staff.
Follow us on twitter: www.twitter.com/tradervox

Source: ForexYard

The euro reversed some of last week’s gains against the US dollar in overnight trading, but remained close to the four-month high it hit following a worse than expected US Non-Farm Payrolls figure. After reaching a one-month low against the Japanese yen at 78.01 on Friday, the USD was able to stage a slight upward during Asian trading and is currently trading at 78.25. Crude oil and gold saw little movement last night, as hopes that the Fed will soon initiate a new round of quantitative easing kept both near their recent highs.

Main News for Today

With no major economic news scheduled to be released today, traders will want to continue monitoring announcements out of the US which may hint at whether the Fed is planning on initiating a new round of quantitative easing when they meet later this week.

Forex Market Analysis provided by ForexYard.

© 2006 by FxYard Ltd

Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.

By MoneyMorning.com.au

Not too long ago I mentioned that whatever European Central Bank President “Super Mario” Draghi delivers, it had better be big.

Because the only way he could hope to shore up the beleaguered euro, wrest control of interest rates from the modern day financial pirates that dominate credit default swaps and break the impasse between skittish investors was with a monetary “bazooka.”

We certainly got one when he announced an unlimited bond purchase program designed to do exactly this.

The S&P 500 shot up 26.13 points while the Dow and Nasdaq both tacked on 216.01 and 62.80 points respectively.

European markets also moved sharply higher on the news as well while Spanish and Italian yields tumbled at maturities of every length suggesting traders relaxed their risk aversion stance considerably.

Under Draghi’s plan, the ECB will be buying unlimited amounts of short-term sovereign debt while also sterilizing that debt – ostensibly to stave off concerns about hyperinflation and further money printing.

Up to now, the ECB has only purchased troubled EU bank bonds as a buyer of last resort. So this is a big change now that Draghi is talking about stepping up as a sovereign debt buyer, albeit also of last resort.

Draghi noted interestingly that the ECB will retain exclusive decision making on when to engage in purchases, the amounts purchased and when to stop. This effectively puts the politicians on notice that further bickering will not be tolerated.

Further, Draghi did not rule out purchases of Greek, Portuguese and Irish bonds when those countries regain practical access to the bond markets.

There are a couple of things that stand out here…

A Cause for Fear, Not Celebration

First, things are so bad that insiders are using euphemisms to describe Draghi’s plan which is officially referred to as a “blueprint” and called “Monetary Outright Transactions.”

I don’t know about you but if it smells like a duck, walks like a duck and quacks like one, too…odds are pretty good it’s a duck.

It doesn’t matter whether you are talking quantitative easing or bond purchasing. The fact that things are so bad that central banks – first the BOJ, then the Fed, now the ECB – have to wade in as lenders of last resort should be a cause for fear rather than celebration.

If not now, than a few years from now, when it all comes back to roost.

Here’s why.

Under Draghi’s blueprint, the ECB is going to be buying bonds from troubled sovereigns. The banks, meanwhile, “sterilize” their debt by investing with the ECB.

The only trouble is that the banks have been borrowing money from the sovereigns all along so the money they are “investing” to sterilize the ECB’s purchases really came from the ECB in the first place.

The money is simply going around in circles – whether that’s like a tornado or a toilet bowl depends on your perspective.

Then there’s the cash itself.

As I understand it, Draghi’s plan presumes that European banks are going to invest it in the ECB as part of the sterilization process. Last time I checked, many European banks are functionally insolvent because they don’t have enough cash to operate let alone invest the excess, especially when it comes to Spanish and Italian banks.

At the same time, banks are deleveraging in order to meet revised capital requirements. They are selling assets and scaling back lending. When you scale back lending you have less credit. And less credit means less growth.

The ECB itself forecasts the economy will expand by 0.5% in 2013 and a deeper economic contraction in 2012 that shows Eurozone GDP dropping 0.4% instead of 0.1%.

In other words, the numbers are already going in the wrong direction – and that’s before any sort of austerity whatsoever. Imagine what happens when somebody actually starts getting serious about spending less.

Second, the plan targets sovereign government bonds with 1-3 year maturities while also including longer dated instruments that have residual maturities within the 1-3 year time frame.

That means there are huge swathes of the credit market that will not be stabilized nor sterilized. It also fails to address corporate and private debt both of which have also reached problematic levels in the EU just like they have here in the United States and Japan.

According to Eurostat long term sovereign debt accounts for between 74.6% and 98.9% of total debt in 23 EU member states. Shorter term levels of less than 5% were recorded in Estonia, Slovenia, Austria, Slovakia and Poland. Only Sweden and Romania presented a significant short term debt ratio which Eurostat defined as greater than 23% according to the latest data.

Click to enlarge

In other words, by addressing the short term debt (in purple), the ECB is potentially leaving the bulk of the long term market (in yellow) out of the picture.

Third, Draghi’s concept of “unlimited” really bothers me. It’s been a common theme so far because policy wonks want to “send a signal” to the markets that they are serious about fixing this problem.

I don’t know about you, but I am tired of signals.

What I would like to see is governments learning to live within their means and the derivatives traders who have fractured the credit markets, making Draghi’s actions necessary, held accountable for having driven the rest of the world to the brink of financial oblivion.

Granted, Draghi did say that nations requesting purchases will have to apply to the ECB and maintain specific behavior to qualify on a periodic basis, but so what.

EU membership supposedly required strict adherence to the Maastricht criteria which formed the basis of the initial economic and monetary union and that’s been effectively ignored or violated six ways to Sunday since it was signed in 1991.

So Now What?

Draghi’s plan is little more than a fresh shot of intoxicants for stimulus addicted markets. I have no doubt that it will create a “rush” that people enjoy.

How big and how long this “rush” lasts really doesn’t matter – two weeks or two years – I don’t know.

At the end of the day, I’ll take a rally. Right now the world’s investors could use one psychologically and financially. But, get ready for reality.

Once traders and central bankers figure out what unlimited actually means and how expensive Draghi’s bond bazooka will become I have no doubt we’re going to experience the entire doom, gloom and boom cycle all over again.

Keith Fitz-Gerald,
Contributing Editor, Money Morning

From the Archives…

Outright Money Transactions – Why ‘Free’ Money Costs You More
07-09-2012 – Kris Sayce

Spanish Banks are in BIG Trouble
06-09-2012 – Bengt Saelensminde

With Iron Ore Prices Falling Will Fortescue ‘Break the Buck’?
05-09-2012 – Kris Sayce

Brace Your Portfolio for a Hard Landing in China
04-09-2012 – John Stepek

Australian Resources Boom Curse…or Industrial Renaissance?
03-09-2012 – Nick Hubble

Super Mario Draghi’s Bazooka is a Dud

GBPUSD continues its upward movement from 1.5490, and the rise extends to as high as 1.6033. Further rise could be expected after a minor consolidation, and next target would be at 1.6100 area. Key support remains at the upward trend line on 4-hour chart, only a clear break below the trend line support could signal completion of the uptrend.

Forex Signals

By Central Bank News
    The central bank of Mexico left its benchmark interest rate unchanged at 4.5 percent, as widely expected, but warned that it may have to raise rates if inflationary pressures continues to build.
    Banco de Mexico said it still believes the current level of interest rates would ensure that inflation declines towards the bank’s target on a permanent basis, but over the next few months inflation is expected to continue to remain at levels above 4 percent.
     Earlier today, the statistics agency reported that Mexico’s annual inflation rate accelerated to 4.57 percent in August, up from 4.42 percent in July. Inflation has been rising since May due to higher vegetable and fruit prices from drought in northern Mexico and in the United States. An outbreak of avian flu and a recent increase in grain prices has also pushed up prices
    Banco de Mexico targets inflation of 3 percent, plus/minus one percentage point. The bank has left its target for the overnight interbank interest rate unchanged since July 2009.

    The central bank said it still considers the effect of these supply shocks on inflation to be temporary but “given the intensity of the shocks that have affected food prices and the potential remains for further turbulence in international financial markets, it is considered that the risks to inflation in the near term continued to rise.”
    These risks, however, are balanced out by deflationary conditions in most advanced economies and slow growth in most emerging economies, which tends to reduce inflationary pressures, the bank said.
    “Going forward, the Board will continue to monitor developments in all the determinants of inflation, since the behavior of these might make it advisable to adjust upward the benchmark interest rate, Banco de Mexico said in a statement.
    The bank struck a somber tone in its global economic outlook, saying downside risks to global growth have increased due to moderate U.S. growth and uncertainty regarding the fiscal tightening in 2013 along with slowing growth in many emerging markets.
    Slower global growth should lead to lower inflation in 2012 and 2013 compared with 2011 and the bank said there was an underlying deflationary condition in several advanced economies despite the recent rise in some commodities, which is expected to only have a temporary effect on inflation.
     Economic activity in Mexico continues to show a positive trend, the bank said, adding that manufacturing exports and domestic demand continue on an upward trend, which is almost closing the output gap.
    “As for the balance of risks to growth in the Mexican economy, it is considered they continued to deteriorate, reflecting the intensifying downside risks to the global economy and in particular for the U.S. economy,” Banco de Mexico said.
    Mexico’s economy expanded by an annual rate of 4.1 percent in the second quarter, down from 4.5 percent in the first quarter.
    www.CentralBankNews.info

Brokerage services ensure that you are in safe hands if your stock trading skills are not polished. The FX broker must be finalized after analyzing their pros and cons for practical result at the end.

Are you looking for brokerage services in the stream of stock trading to ease the pressure while trading? By the end of this article, your every query would be addressed whether it is in terms of features, advantages, tips, etc. To begin with, trading currencies is becoming very popular among trade aspirants in the cyber world. Most of the times, trade enthusiasts are unable to relate to the online forex trading. This brings forex brokers into the picture for their assistance. In simple words, forex trading involves modern technologies wherein, internet plays a crucial role in lending pragmatic results. Currency pairs are purchased by the stock traders and they sell them when the market conditions seem to be favorable for them.  The positioning of currencies is never static, therefore, being a trader, you are highly recommended to buy or sell currency pairs very carefully. Read on, to explore various factors which ought to be analyzed while selecting forex broker.

As a matter of fact, everybody cannot crack the best deal, thus, it is advisable for them to seek guidance. In order to accomplish this task, one can check online database of best forex brokers to finalize the expert of this stream. After you have chosen the FX broker, you can consult with this individual prior to proceeding with the transaction. Secondly, it is worth mentioning that the features offered by the brokers may differ to each other. Hence, it is mandatory for you to check all the facets of brokerage services before actually subscribing for them. In fact, you can compare two or more trading platforms to assess their utility and thereby, draw conclusion which one is best for you!  Besides, you should check for transparency in the services offered by the broker so that, you need not repent later over your decision.  It happens so, many a times
that the users realize after getting subscribed that the selected service provider is not suitable for them.

Thirdly, it is essential for you to understand that the clear and concise definition of top forex broker implicates the trading expert who offers full-fledged services in the sphere of stock trading. In addition, the very broker must be well equipped with the relevant as well as functional trading tools for better experience.  It is often observed that in the wake of rising competition in the market, the FX brokers claim to be the best, but, getting carried away by just reading about them is not justifiable. On a
contrary, a trade enthusiast has to review whether the brokerage services are worth investing on or not. Lastly, with this systematic approach, you can not only
strike the effective deals, but also get maximum exposure to the online trading of currencies. In a course of time, you tend to get prepared for the real time
trade. On a last note, select forex broker wisely after assessing their services and ensuring their profitability in the stock trading market. The whole idea is
to make the most out of brokerage services offered by the selected trading platform.

About Author:

Brown Hazle is an experienced foreign exchange trader and recommends UWCFX.  United World Capital trading platforms are equally suited for top forex brokers.

For more detail about the company:

 Visit: http://www.uwcfx.com/

By Central Bank News
    The past week in monetary policy saw interest rate decisions by 17 central banks, with 3 banks cutting rates (Sweden, Uganda and Kenya), while the remaining 14 (ECB, Australia, Canada, Poland, Thailand, UK, Malaysia, Peru, Serbia, Mexico, Zambia, Fiji, Egypt and West African States) kept rates unchanged.
     The common theme from central banks was of slower global growth, but solid domestic demand in some countries is helping compensate for lower exports. This includes Canada, Peru, Malaysia, Thailand, Fiji and Mexico, which even raised the prospect of higher rates if inflation continues to rise.
    Sweden surprised most economists by cutting its rate to prevent inflation falling further below the central bank’s target as exports and growth take a hit from Europe’s recession.
     But the main event of last week was the European Central Bank’s ambitious plan to buy an unlimited amount of bonds from any euro zone member state that finds itself in serious financial trouble. 
    Like an adolescent that takes time to grow up, the ECB is gradually maturing into a fully-fledged central bank that will draw on all its resources to protect its family, the 17-nation euro zone. 

Saudi Arabia has gone on the offensive against Iran to protect its interests.  Their involvement in Syria is the first battle in what is going to be a long bloody conflict that will know no frontiers or limits.

Ongoing Disorders in the island kingdom of Bahrain since February of 2011 have set off alarm bells in Riyadh.  The Saudis are convinced that Iran is directing the protests and fear that the problems will spill over the twenty-five kilometer long COSWAY into  oil rich Al-Qatif, where The bulk of the two million Shia in the kingdom are concentrated.  So far, the Saudis have not had to deal with demonstrations a serious as those in Bahrain, but success in the island kingdom could encourage the protestors to become more violent.

Protecting the oil is the first concern of the government.  Oil is the sole source of the national wealth and it is managed by the state owned Saudi Aramco Corporation.  The monopoly of political power by the members of the Saud family means that all of the wealth of the kingdom is their personal property.  Saudi Arabia is a company country with the twenty-eight million citizens the responsibility of the Saud Family rulers.

The customary manner of dealing with a problem by the patriarchal regime is to bury it in money.  King Abdullah announced at the height of the Arab Spring that he was increasing the national budget by 130 billion dollars to be spent over the coming five years.  Government salaries and the minimum wage were raised.  New housing and other benefits are to be provided.  At the same time, he plans to expand the security forces by sixty thousand men.

While the Saudi king seeks to sooth the unrest among the general population by adding more government benefits, he will not grant any concessions to the eight percent of the population that is Shia. He takes seriously the warning by King Abdullah of Jordan back in 2004 of the danger of a Shia Crescent that would extend from the coast of Lebanon to Afghanistan.  Hezbollah in Lebanon, Assad in Syria, and the Shia controlled government of Iraq form the links in the chain.

When the Arab Spring reached Syria, the leaders in Riyadh were given the weapon to break the chain.  Appeals from tribal leaders under attack in Syria to kinsmen in the Gulf States for assistance could not be ignored.  The various blinks between the Gulf States in several Syrian tribes means that Saudi Arabia and its close ally Qatar have connections that include at least three million people out of the Syrian populations of twenty-three million.  To show how deep the bonds go, the leader of the Nijris Tribe in Syria is married to a woman from the Saud Family.

It is no wonder that Saudi Foreign Minister Prince Saud al-Faisal said in February that arming the Syrian rebels was an “excellent idea.”  He was supported by Qatari Prime Minister Hamad bin Jassim al-Thani who said, “We should do whatever necessary to help [the Syrian opposition], including giving them weapons to defend themselves.”  The intervention has the nature of a family and tribal issue that the prominent Saudi cleric Aidh al-Qarni has turned into a Sunni-Shia War by promoting Assad’s death.

The Saudis and their Qatar and United Arab Emirate allies have pledged one hundred million dollars to pay wages to the fighters.  Many of the officers of the Free Syrian Army are from tribes connected to the Gulf.  In effect, the payment of wages is paying members of associated tribes.

Here, the United States is not a welcomed partner, except as a supplier of arms.  Saudi Arabia sees the role of the United States limited to being a wall of steel to protect the oil wealth of the Kingdom and the Gulf States from Iranian aggression. In February of 1945, President Roosevelt at a meeting in Egypt with Abdel Aziz bin Saud, the founder of modern Saudi Arabia, pledged to defend the kingdom in exchange for a steady flow of oil.

Since those long ago days when the U.S. was establishing Pax Americana, the Saudis have lost their trust in the wisdom or the reliability of American policy makers.  The Saudis urged the U.S. not to invade Iraq in 2003 only to have them ignore Saudi interests in maintaining an Iraqi buffer zone against Iran.  The Saudis had asked the U.S. not to leave a Shia dominated government in Baghdad that would threaten the Northern frontier of the Kingdom, only to have the last American soldiers depart in December 2011.  With revolution sweeping across the Middle East, Washington abandoned President Mubarak of Egypt, Saudi Arabia’s favorite non royal leader in the region.

Worried by the possibility of Iranian sponsored insurrections among Shia in the Gulf States, the Saudis are asserting their power in the region while they have the advantage.  For thirty years, they have been engaged in a proxy war with the Islamic Republic of Iran.  Syria is to be the next battlefield, but here, there is a critical difference from what were minor skirmishes in Lebanon, Yemen, and elsewhere.  The Saudis with the aid of Qatar, and the UAE is striking at the core interests of Tehran; and they have through their tribal networks the advantage over an isolated Islamic Republic.

Tribal and kinship relations are being augmented by the infusion of the Salafi vision of Islam that is growing in the Gulf States.  Money from the Gulf States has gone into the development of religious centers to spread the fundamentalist belief.  A critical part of the ideology is to be anti-Shia.

Salafism in Saudi Arabia is promulgated by the Wahhabi School of Islam.  The Wahhabi movement began in the eighteenth century and promoted a return to the fundamentalism of the early followers of the Faith.

The Sauds incorporated the religious movement into their leadership of the tribes.  When the modern state of Saudi Arabia was formed, they were granted control of the educational system and much else in the society in exchange for the endorsement of the authoritarian rule.

When the Kingdom used its growing wealth in the 1970s to extend its interests far from the traditional territory in the battle against the atheistic Soviet Union, the Wahhabi clergy became missionaries in advancing their ideology through religious institutions to oppose the Soviets.  More than two hundred thousand jihadists were sent into Afghanistan to fight the Soviet forces and succeeded in driving them out.

There is no longer a Soviet Union to confront.  Today, the enemy is the Islamic Republic of Iran with what is described by the Wahhabis as a heretical form of Islam and its involvement in the Shia communities across the region.  For thirteen centuries, the Shia have been kept under control.  With the hand of Iran in the form of the Qud Force reaching into restless communities that number as many as one hundred and six million people in what is the heart of the Middle East, the Saudis see a desperate need to crush the foe before it has the means to pull down the privileged position of the Saud Family and the families of the other Gulf State rulers.

The war begins in Syria where we can expect that a successor government to Assad will be declared soon in the Saudi controlled tribal areas even before Assad is defeated.  The territory is likely to adopt the more fundamentalist principals of the Salafists as it serves as a stepping stone to Iran Itself.  It promises to be a bloody protracted war that will recognize no frontier and will know no limits by all of the participants.

Source: http://oilprice.com/Geopolitics/Middle-East/The-Endless-War-Saudi-Arabia-Goes-on-the-Offensive-Against-Iran.html

By. Felix Imonti for Oilprice.com

Reliable internal measures tell a story investors need to know

By Elliott Wave International

Anyone who enjoys eating fruit knows there’s a fine line between ripe and over-ripe.

If it sits in the fruit bowl too long, over-ripe turns rotten.

As experienced investors know, the stock market goes through similar phases. An overbought, or over-ripe, market can spoil quickly.

Take a look at this chart for example (wave labels removed), and ask yourself, is the stock market on the verge of spoiling?

The Aug. 10 Financial Forecast Short Term Update provides commentary to go with the chart.

[An] indicator that has moved to an overbought condition is 10-day NYSE Trin (advance/decline ratio divided by the up/down volume ratio). Wednesday’s close [Aug. 8] was .937, which was the most overbought level since March 26, when 10-day Trin closed at .900 (see gray vertical line). That was five days prior to the April 2 S&P top. It’s certainly possible that Trin becomes even more overbought prior to a market high, but it doesn’t have to. Current levels are the exact opposite of those that attended the August, October and November 2011 lows, as marked on the left side of the chart.

EWI also looks at several other internal measures.

A healthy bull market sports broad participation among different sectors and indexes. Up days are consistently accompanied by high volume; momentum is strong.

The indicators EWI watches suggest this market is indeed overbought and still ripening.

What does the true state of the economy mean for your investments? EWI’s free report, The Economic Rot Beneath, reveals important economic numbers that you are not currently reading in the mainstream headlines – but you should be. For instance, did you know stocks priced in real money (gold) are down 87%? Or that U.S. manufacturing jobs are half of what they were in 1979? Or that housing starts per capita are back to 1922 levels? Learn what’s really going on in the U.S. economy. Download your free report now >>

Once you have decided to become a Forex trader in Singapore, then you need to get ready to work hard during the first months. This is not because you are in Singapore, the country has one of the most free economies of the world making it easier for anyone to have a business, but due to the fact that Forex can be quite difficult to learn and make profits if the trader does not know what he is doing. So, the Singapore trader should be ready to learn Forex trading and if necessary, be ready to put in a lot of hard work so that he can understand what is required to be successful in the Forex trading business. Though it might sound like a lot of hard work for the Singapore Forex trader, it will all be well worth it. When people spend more than 10 years in getting themselves ready for the job that they seek, the Singapore Forex trader should be ready to put in at least 2 years of work so that he can achieve the success in Forex trading that he yearns for.

Once he has achieved noticeable success as a Forex trader, the word about the Singapore trader usually gets around very quickly and he is then likely to be sought by a lot of businesses like banks, hedge funds and companies that undertake hedging
services on behalf of the clients. This throws open a lot of opportunities for a Singapore Forex trader to choose from and this would ultimately mean a lot of benefit for the trader as most of these jobs is very likely to be high paying jobs.

The Singapore trader can choose to train himself on Forex trading or he can approach any of the several Forex training schools that are available in Singapore. After a period of careful consideration of all aspects of the training like duration, timings and cost, the trader can choose to join the school and get to understand the nuances and learn Forex trading from the best of trainers. Once the training is complete, the trader should take time in building his skills and then trying out his skills on a demo account. This helps the Singapore trader to iron out his deficiencies and build confidence in himself and the strategies that he uses. Once he has had a successful demo, the next stage is to move on to a small live account and slowly build the account and also build a good trading record as well. It is important that the trader builds a good trading history for at least a year if he is serious about making a career in trading.

Once he has achieved that, he can then go out and show his trading history to others to seek jobs and funds and thus move to the next level of Forex trading in Singapore.