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Friday, 29 December 2017

Asian markets end 2017 without a clear direction

5 comments : Posted by Anonymous at 10:22


Asian equity markets were mixed in the last session of 2017 amid low trading activity and an empty economic calendar ahead of the day.

No relevant data was released in Asia.

US top three stock benchmarks ended higher on Thursday, with the Dow Jones Industrial Average pushing to the upside after closing at a fresh record high. IBM and United Health were among the best performing components of the index during the session.

Dow Jones                             63.21               0.26%              24837.51
S&P 500 Index                       4.92                 0.18%              2687.54
NASDAQ Composite             10.82               0.16%              6950.16

The US goods trade balance for November moved to a $69.68 billion deficit from a previous reading of $68.10 billion. The figure came in above an estimated deficit of $67.60 billion.

In other news, the number of people applying for unemployment benefits in the United States was at 245,000, above a forecasted reduction of 5,000 to 240,000.

President Donald Trump warned China on Thursday about continuing to supply oil to North Korea, which breaks with a recent resolution of the United Nations Security Council.

"If they don't help us with North Korea, then I can do what I've always said I want to do," the Republican leader said in an interview with The Times.

Commodities remained on the positive side as the American currency fails to find bullish support for a rebound. The US dollar index was trading lower at 92.28 in early hours on Friday.

On the Comex division of the New York Mercantile Exchange, gold futures were up 0.04 percent at $1.297.70 a troy ounce as of 06:30 GMT.

The US West Texas Intermediate crude contracts were up 0.69 percent to $60.25 per barrel as of 06:30 GMT. Meanwhile, Brent futures eased 0.18 percent to $66.60 a barrel.

<<< Next in Europe >>>

Germany will release its December consumer price index at 09:00 GMT. Analysts are forecasting a 0.5 percent build from a prior month 0.3 percent increase. Inflation in Europe’s first economy will be monitored carefully as it might influence future ECB monetary policy decisions.

<<< Next in the United States >>>

As New Year approaches, most traders have decided to stay out of the market and enjoy the rest of the year without volatility. Commodity traders will be following the release of Baker Hughes’ weekly oil rig count as of 18:00 GMT.

<<< Asian Stock Indexes at 06:30 GMT >>>

Australia ASX S&P                -22.10             -0.36%            6,167.30
Shanghai Composite             +3.21              +0.10%           3,299.60
Hong Kong Hang Seng          +69.94            +0.23%           29,933.65
Japan Nikkei 225                   -19.04             -0.08%            22,764.94

Taiwan TSEC 50 Index          +75.22            +0.71%           10,642.86
Read More

Leverage: a friend or an enemy?

2 comments : Posted by Anonymous at 10:15


Not an uncommon question among new traders and neither among some who have already been trading for a few months. Remember, there is no shame in asking questions.

This is not primary school, we are all here for a single reason: make money. Therefore, it will be a much more enjoyable experience if we could all just help each other a bit, rather than competing for pips. Nonsense. The market is big enough for all of us.

Back to the main question. Oh yes, leverage. Wait, what is leverage?

“Leverage is the investment strategy of using borrowed money: specifically, the use of various financial instruments or borrowed capital to increase the potential return of an investment.” (Source: Investopedia)

In other words, leverage allows us to operate with a small amount to manage a much larger amount of capital, which could result in bigger gains or losses in results.

Is leverage a concept we know? Of course. It is just you don’t call it “leverage”. Think about a mortgage. When buying a property, you are leveraging yourself: you put a small amount of cash and ask the bank for the rest in other to manage a larger amount and fulfill your goals.

In the Forex market, the same tool is used to give people the chance to earn more even if they have a small capital to invest. For instance, if you are using a 1:100 leverage ratio and your account balance is $100, you are allow to trade as if you would have $10,000.

There are different leverage sizes which can vary depending on the broker you’ve chosen and your trading style and risk profile. The most common ratios out there would be 1:10 (conservative), 1:100 (moderate), 1:500 (risky), 1:1000 (highly risky).


To put it simple: once you’ve decided to operate with leverage, all your results will be amplified by the ratio of your choice. Pay attention to the word “results” as we are not only talking about gains, but also about potential losses. Keep that into mind when taking an investment decision.
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Thursday, 28 December 2017

Weekly Outlook: Jan 1 - Jan 5

No comments : Posted by Anonymous at 10:18

Tuesday

Asia: China’s Caixin manufacturing PMI for December is due at 01:45 GMT, with 50.9 points eyed from a previous month 50.8 points.

Europe: Germany, the Eurozone and the United Kingdom will also present their owns PMI indexes as of 08:55 GMT, 09:00 GMT and 09:30 GMT respectively.

United States: Markit will unveil the US manufacturing PMI for December at 14:45 GMT.

Wednesday

Europe: Germany’s unemployment rate is scheduled for release at 09:00 GMT. Economists are not forecasting any changes to the current 5.6 percent. The UK construction PMI for December will be out at 09:30 GMT.

United States: the Institute for Supply Management will present its manufacturing PMI for December at 15:00 GMT, with a 58.1 reading seen.

Thursday

Asia: China’s Caixin services PMI for December is set for publishing at 01:45 GMT.

Europe: the UK Nationwide HPI is scheduled as early as 07:00 GMT, followed by Germany and Eurozone’s services PMIs at 08:55 GMT and 09:00 GMT respectively. The UK will unveil its own half an hour later.

United States: ADP nonfarm employment change is up at 13:15 GMT, with an expected jobs creation of 190,000 for December, equal to the prior month. Markit composite and services PMIs are due at 14:45 GMT.

Friday

Europe: Germany’s retail sales for November will be out at 07:00 GMT, while the Eurozone is set to release its consumer price index for December at 10:00 GMT, with a 1.3 percent eyed.


United States: all attention will be directed to the December employment report by the Labor Department. Nonfarm payrolls, average hourly earnings and the unemployment rate are all expected at 13:30 GMT. Analysts are pointing to a 189,000 jobs increase. Also, factory orders and the ISM non-manufacturing PMI for December will be published as of 15:00 GMT.
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Asian stocks recover despite low trading activity

4 comments : Posted by Anonymous at 10:16

Asian stock markets were mostly higher on Thursday amid low activity ahead of the New Year’s holiday and as a rally in oil prices continued to support energy-related equities.

Oil prices settled higher overnight, adding to previous day gains and trading at levels not seen since mid-2015 as disruptions in Libya and the North Sea continued to support benchmarks.

The American currency remained under pressure as downbeat economic data from the United States failed to offer support, exposing it to further downward pressure across the board.

The US dollar index, which measures the greenback against six major currencies, was trading 0.15 percent lower at 92.47 by the time of this writing.

The Conference Board’s consumer confidence dropped to 122.1 in December from a revised previous month reading of 128.6, below economists' estimate for a reading of 128.

In other news, pending home sales added 0.2 percent month-on-month in November, the National Association of Realtors reported on Wednesday. A 0.4 percent draw was seen.

Dow Jones                             28.09               0.11%              24774.30
S&P 500 Index                       2.12                 0.08%              2682.62
NASDAQ Composite             3.09                 0.04%              6939.34

Tech giant Apple, which plunged by 2.5 percent on Tuesday after a Taiwanese media outlet said iPhone X sales forecasts might be lower-than-expected, added 0.02 percent in the prior session.

<<< Next in Europe >>>

The European Central Bank will present its economic bulletin as of 09:00 GMT.

<<< Next in the United States >>>

Investors will be paying attention to the release of goods trade balance figures for November and initial jobless claims in the United States as of 13:30 GMT.

<<< Asian Stock Indexes at 07:10 GMT >>>

Australia ASX S&P                +19.70            +0.32%           6,189.40
Shanghai Composite             +18.11            +0.55%           3,293.90
Hong Kong Hang Seng          +185.49          +0.63%           29,783.15
Japan Nikkei 225                   -127.23           -0.56%            22,783.98

Taiwan TSEC 50 Index          +80.97            +0.77%           10,567.64
Read More

OIL market

5 comments : Posted by Anonymous at 10:14


Oil futures were trading slightly higher on Thursday amid low trading activity ahead of the New Year holiday and as traders await official inventory data later in the day.
The US West Texas Intermediate crude contracts were up 0.25 percent to $59.79 per barrel as of 06:30 GMT. Meanwhile, Brent futures added 0.24 percent to $66.60 a barrel.
Overnight, the American Petroleum Institute said crude inventories went down by 6 million barrels in the week ended December 22 to a total of 432.8 million barrels.
Today, investors will keep an eye on the official inventory report by the US Energy Information Administration, which is due for release as of 15:00 GMT. API and EIA reports often diverge.
Earlier this week, both crude benchmarks have reached levels not seen since mid-2015. On Wednesday, WTI contracts broke above $60 per barrel, while the Brent stood at $67 a barrel.
Market analysts believe the jump in quotes is related to a continuous support by OPEC-led output cuts, which have been recently extended to cover all of 2018.
Disruptions in crude and gas pipelines in the North Sea and Libya have also been supporting oil prices. However, Ineos said on Wednesday Forties pipeline is expected to gradually recover its 450,000 barrels per day capacity by New Year.
"Ineos continues to make good progress towards the restart of the Forties Pipeline System," the company wrote in a statement.
"Ineos has partially restarted the Kinneil facility. Flows through the pipeline and Kinneil will be increased gradually as we prove the system."
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Wednesday, 27 December 2017

Gold market

2 comments : Posted by Anonymous at 10:38


Gold futures were quiet in early trading hours on Monday, as market players awaited further economic data in the US to see the effects on the dollar, while activity remains low.
 On the Comex division of the New York Mercantile Exchange, gold futures were down 0.02 percent at $1.287.20 a troy ounce as of 05:50 GMT.
 The yellow metal settled slightly higher on Tuesday as a continuous weakening of the US dollar supported demand for bullion.
The US dollar index, which measures the greenback against six major currencies, was trading 0.14 percent higher at 93.00 by the time of this writing.
The American currency remained under pressure in the light of an empty economic agenda and low trading volumes between major holidays (Christmas and New Year).
Gold is sensitive to changes in the US dollar, in which the metal is denominated. A softer base currency makes bullion cheaper and more appealing for investors holding foreign currencies.
Last week, Goldman Sachs said gold prices are expected to meet a $1,200 per troy ounce target in the middle of 2018 and then to spike to $1,375 closer to 2020.
By the end of last week, the US Commodity Futures Trading Commission (CFTC) reported that hedge funds and money managers had risen their net long stance in the precious metal in the week ended December 19 to 113,800, adding 6,700 or 6 .3% from the prior week.
Ahead in the session, traders will keep an eye on UK BBA mortgage approvals at 09:30 GMT, followed by US CB consumer confidence for December as of 15:00 GMT and pending home sales for November at the same time.
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Asian stocks mixed in pre-Christmas trading

1 comment : Posted by Anonymous at 10:37

Asian equity markets were mixed on Wednesday, with energy-related stocks rising overnight as crude futures settled in levels not seen since May 2015.

Japan’s Nikkei 225 index traded near breakeven despite energy names moving higher, such as Japan Petroleum Exploration or Inpex, which added more than three percent in the session.

Australia’s S&P/ASX 200 also remained quiet in the day, with gains by mining components being offset by other sectors. Energy components were also up here.

South Korea’s Kospi headed South on Wednesday, falling under pressure as blue-chip technology companies eased during the session, although losses were capped by manufacturers and financial names.

Meanwhile in China, investors kept an eye on industrial data. According to Reuters, profits by industrial companies increased by 14.9 percent from the previous year. Attention also fell into iPhone X sales forecast, which according to market experts could turn into a big disappointment.

Wall Street top three indexes closed lower on Tuesday, with the Dow Jones Industrial Average standing at 24746.21, down 7.85 points or 0.03 percent and the S&P 500 at 2680.50, easing 2.84 points or            0.11 percent. The NASDAQ Composite was down 0.34 percent at 6936.25.

<<< Next in Europe >>>

Ahead in the session, traders will keep an eye on UK BBA mortgage approvals at 09:30 GMT.

<<< Next in the United States >>>

The Conference Board will present its consumer confidence for December as of 15:00 GMT and pending home sales for November at the same time.

<<< Asian Stock Indexes at 07:45 GMT >>>

Australia ASX S&P                +2.40              +0.04%           6,169.70
Shanghai Composite             -30.34             -0.92%            3,275.78
Hong Kong Hang Seng          -13.57             -0.05%            29,564.44
Japan Nikkei 225                   +18.52            +0.08%           22,911.21

Taiwan TSEC 50 Index          +64.76            +0.62%           10,486.67
Read More

The Bitcoin Crash: 3 Reasons Why Shouldn’t Worry

2 comments : Posted by Anonymous at 10:36

It came out of the blue and now you are feeling terrible. We get it, we really do. Part or even a majority of your crypto gains have vanished only a few days before Christmas and New Year.

But like it or not, the thing is… that is precisely how the cryptocurrency market operates. Volatility is high and there are almost no fundamentals behind price movements.

It is risky and just as it should be, highly profitable. Therefore, it is an investment for everyone to consider. And even those who had taken some positions on cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, or Ripple, seem not to be fully ready for the roller coaster.

1 - History tells one thing: do not rush.

Last summer, cryptocurrencies went down by half in value and from Jan 17 we’ve seen a tremendous rebound that left me with pockets fully loaded.

Based on the idea of a potentially greater rebound in the near-term future, maybe it is just time to take a breather, stop looking at the charts and enjoy some delicious Christmas punch.


2 - Low liquidity, a key to understand the crash.

The cryptocurrency market is not really well known for being a liquid one, which turns every large scale selling wave into a potential crash.

Last week, the South Korean exchange Youbit was hacked and thieves were able to take nearly 20 percent of its assets, that might be a reason why many rushed to sell. Plus, security is a major concern among cryptocurrency investors, and news of this kind play hard on sentiment.

3 - The market is a two way road: buy or sell

The question is… on which side do you want to be? When it comes to price crashes, most people are selling their assets, cashing out over fear, uncertainty,... you name it.


But there is another side of the story, buyers who are profiting from desperate investors, taking their assets at competitive pricing in order to later speculate on a rebound. Finding the right exposure for your portfolio (meaning position size) is be a key to your future success.
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Friday, 22 December 2017

Asian stocks settle higher in the last trading session before Christmas

1 comment : Posted by Anonymous at 08:55 Labels: Wall Street

Asian equity indexes were mainly higher on Friday, following Wall Street’s optimistic close as investors head to the Christmas holidays.

In South Korea, blue chip companies have risen in the session, pushing the Kospi to the upside. As tensions between Korean and Chinese officials remain in place, THAAD-related stocks continued to trend lower.

In Australia, mining and energy sectors led gains, boosting the S&P/ASX 200. Oil futures settled in green territory on Thursday as market participants following a larger-than-expected reduction in crude stockpiles reported by the US Energy Information Administration.

U.S. stocks finished higher on Thursday after some companies said they would spend the savings stemming from lower corporate taxes on higher wages and new construction.

The Dow Jones industrial average increased 55.64 points to end the session at 24,782.29. The S&P 500 added 0.2 percent to 2,684.57, while the Nasdaq composite was flat at 6,965.36.

The US economy expanded at a 3.2 percent year-over-year rate in the third quarter of this year, data from the Commerce Department showed.

Market analysts had forecasted a 3.3 percent increase in the gross domestic product, above a 3.1 percent seen in the second quarter, which was the fastest build since Q1 2015.

In other news, the Senate approved a stop-gap spending bill that allows the government avoid a shutdown in the upcoming days. This move comes after the passing of a major tax reform meant to reduce taxes for individuals and corporations.

Pres. Donald Trump could sign Republican-backed tax and government funding bills later today.

<<< Next in Europe >>>

Ahead in the day, attention will be directed to the German GfK Consumer Climate index for January, with a 10.8 points reading seen.

Also, market players will be focusing on the releases of UK Q3 business investment, current account and gross domestic product as of 09:30 GMT.

<<< Next in the United States >>>

In the United States, attention will be directed to durable goods orders and personal spending for November as of 13:30 GMT, while Michigan University’s consumer expectations and sentiment will be out at 15:00 GMT. New home sales are up at the same time.

<<< Asian Stock Indexes at 05:30 GMT >>>

Australia ASX S&P                +11.70            +0.19%           6,168.00
Shanghai Composite             +2.69              +0.08%           3,302.75
Hong Kong Hang Seng          +77.39            +0.26%           29,444.45
Japan Nikkei 225                   +30.50            +0.13%           22,896.60

Taiwan TSEC 50 Index          +19.96            +0.19%           10,508.93
Read More

What’s next? – GOLD 22.12.17

170 comments : Posted by Anonymous at 08:51


Gold futures traded lower in early trading hours on Friday, as market participants turned their heads to fresh economic reports as the tax reform has been digested.

On the Comex division of the New York Mercantile Exchange, gold futures were down 0.09 percent at $1.269.40 a troy ounce as of 05:05 GMT.

The yellow metal reached a two-week peak on Thursday, as the dollar extended loses on the back of a smaller-than-expected US economic expansion for the third quarter.

In late trading hours, gold futures for February were nearly 0.08 percent higher at $1,270.60.

The world’s first economy expanded at a 3.2 percent year-over-year rate in the third quarter of this year, data from the Commerce Department showed.

Market analysts had forecasted a 3.3 percent increase in the gross domestic product, above a 3.1 percent seen in the second quarter, which was the fastest build since Q1 2015.

Weaker-than-expected economic data and a mixed sentiment regarding the Republican tax reform bill continued to pressure demand for the American currency.

The US dollar index, which measures the greenback against six major currencies, was trading 0.14 percent higher at 93.00 by the time of this writing.

Despite downbeat data, economists have pointed out that the economy remains on a positive note for the Federal Reserve and the latest report will not weigh on further monetary decisions.

Gold is very sensitive to interest rate moves in the US. Higher rates dampen demand for safe havens as they lift the opportunity cost of holding non-yielding assets.

Earlier this week, Goldman Sachs issued a forecast saying the precious metal would fall back to $1,200 per ounce by mid-2018 as tax changes are made and Fed’s head finally changes.

Ahead in the European session, market players will be focusing on the releases of UK Q3 business investment, current account and gross domestic product as of 09:30 GMT.


In the United States, attention will be directed to durable goods orders and personal spending for November as of 13:30 GMT, while Michigan University’s consumer expectations and sentiment will be out at 15:00 GMT. New home sales are up at the same time.
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What’s next? – DAX 22.12.17

No comments : Posted by Anonymous at 08:50


The German stock index DAX futures were 0.13 percent higher as of 05:05 GMT at 13,068.5 points on Friday, with market players awaiting fresh data, remaining cautious as the political scene in Europe continues to weigh on sentiment.

Ahead in the day, attention will be directed to the German GfK Consumer Climate index for January, with a 10.8 points reading seen.

Also, market players will be focusing on the releases of UK Q3 business investment, current account and gross domestic product as of 09:30 GMT.

The benchmark ended at 13,109.74 points, adding 40.57 points or 0.31 percent, with on Thursday, with the Technology, Basic Resources and Construction sectors contributing to gains.

The best performers were Fresenius, which added 1.60 percent or 1.030 points to 65.590, Bayerische Motoren Werke rising 1.05 percent or 0.910 points to 87.840 and Infineon Technologies increasing 0.98 percent or 0.225 points to 23.080.

The worst performers were RWE, which dropped 1.56 percent or 0.265 points to 16.715, followed by Vonovia with a 0.82 percent loss or 0.34 points at 40.70 and E.ON eased 0.79 percent or 0.073 points to 9.164.


European stocks started Thursday under pressure in the light of rising uncertainty over elections in Catalonia, Spain. However, German utilities were able to help the DAX capped losses. 
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Friday, 8 December 2017

Asian equities mostly higher; US NFP eyed

No comments : Posted by Anonymous at 15:58 Labels: Wall Street

Asian equities traded mainly higher on Friday following a strong lead from the American session as traders continued to speculate over a massive tax reform being passed in the upcoming days, while keeping an eye on incoming economic data.

Japan’s current account came in at 2.176 trillion yen for October, above an estimated 1.930 trillion seen, but down from a previous month 2.271 trillion.

In other news, Japan’s third-quarter gross domestic production was revised upwards to 0.6 percent quarter-over-quarter and 2.5 percent year-over-year. In both cases, data outperformed economists’ predictions of 0.4 percent and 1.5 percent respectively.

Earlier today, Chinese dollar-denominated exports terms rose 12.3 percent in November year-over-year, more than doubling economists’ forecast. On the other hand, imports added an incredible 17.7 percent last month, compared to an estimated 11.3 percent build seen.

The Dow Jones industrial average was up 70.57 points by the end of the session at 24,211.48. The S&P 500 rose 0.3 percent to end at 2,636.98. The Nasdaq composite added 0.5 percent to close at 6,812.84, helped by rising shares of Facebook and Amazon.

The US Labor Department said initial jobless claims stood at 236,000 last week, below an estimated 240,000 and a previous week 238,000.

On Thursday, a Republican leader hinted that the GOP tax reform resolution was meant to further changes before being handed to President Donald Trump for a final approval.

<<< Cryptocurrencies >>>

Bitcoin once again was in focus, as the world’s most popular cryptocurrency rose to nearly $19,000 on Thursday, although it later adjusted around 20 percent downwards. Speculation is high on this market. The currency has started 2017 around $1,000.

<<< Next in Europe >>>

Ahead in today’s session, Germany will release trade balance figures for October at 07:00 GMT, with a 21.8-billion-euro superavit seen.

<<< Next in the United States >>>

Ahead in today’s session, focus will be at fresh labor market data, including the unemployment rate, average hourly earnings and most importantly, nonfarm payrolls for November.

<<< Asian Stock Indexes at 07:15 GMT >>>

Australia ASX S&P +16.60 +0.27% 6,077.40

Shanghai Composite +17.84 +0.55% 3,289.89

Hong Kong Hang Seng +353.67 +1.25% 28,656.86

Japan Nikkei 225 +313.05 +1.39% 22,811.08

Taiwan TSEC 50 Index +42.86 +0.41% 10,398.62

Fort Financial Services

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What’s next? – USDJPY 08.12.17

No comments : Posted by Anonymous at 15:56 Labels: what’s next

The dollar was trading 0.31 percent higher vs the Japanese yen at 113.44 as of 06:50 GMT on Friday, despite better-than-expected economic data in Japan boosting the yen.

Japan’s current account came in at 2.176 trillion yen for October, above an estimated 1.930 trillion seen, but down from a previous month 2.271 trillion.

In other news, Japan’s third-quarter gross domestic production was revised upwards to 0.6 percent quarter-over-quarter and 2.5 percent year-over-year. In both cases, data outperformed economists’ predictions of 0.4 percent and 1.5 percent respectively.

The American currency remains supported by rising speculation that the US Senate and House of Representatives will soon agree on a joint resolution over a massive tax reform.

The US dollar index, which measures the greenback against six major currencies, was trading at 93.86 by the time of this writing, up 0.10 percent.

According to the Trump administration, cutting taxes will allow citizens to have more cash in their pockets, boosting consumption and inflation, and also attract companies to relocate profits.

Also supporting the greenback were reports on a deal between Senate and House Republicans to pass a bill that would allow to skip a government shutdown in the upcoming days.

On the data front, the US Labor Department said initial jobless claims stood at 236,000 last week, below an estimated 240,000 and a previous week 238,000.

Ahead in today’s session, focus will be at fresh labor market data, including the unemployment rate, average hourly earnings and most importantly, nonfarm payrolls for November.

Fed funds tracked by CME Group’s FedWatch tool show participants weighing in a nearly 100 percent chance of a 25 basis points rate hike at the December 13 monetary meeting.

Fort Financial Services

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What’s next? – DAX 08.12.17

No comments : Posted by Anonymous at 15:54 Labels: what’s next

The German stock index DAX futures were 0.78 percent higher as of 06:50 GMT at 13,103.0 points on Friday, with market players looking ahead to fresh data later in the day.

The German benchmark ended at 13,045.15 points on Thursday, adding 46.30 points or 0.36 percent, with Telecoms, Pharmaceuticals & Healthcare and Transportation & Logistics supported gains, while Consumer & Cyclical, Chemicals and Insurance turned to the downside.

The best performers of the session were Prosiebensat 1 Media, which added 3.06 percent or 0.850 points to 28.590. Commerzbank increased 2.32 percent or 0.280 points to 12.370 and RWE posted a 2.30 percent or 0.450 points gain at 20.015.

The worst performers of the session were BASF, which dropped 0.87 percent or 0.820 points to 93.070. Bayer was down 0.67 percent or 0.70 points at 104.15 and Muench. Rueckvers. declined 0.59 percent or 1.10 points to 184.00.

On the data front, German industrial production for October eased by 1.4 percent compared to an initially estimated increase of 1.0 percent.

In other news, the Eurozone’s third-quarter gross domestic product came in at 0.6 percent, in line with expectations. On annual basis, the GDP showed a 2.6 percent growth rate.

On Thursday, attention was also directed to a speech by ECB President Mario Draghi, who delivered remarks in a press conference by the Bank for International Settlements.

“When the next crisis will be is hard to foresee. But the present system is much more resilient than the one we saw before the crisis,” said Draghi.

Ahead in today’s session, Germany will release trade balance figures for October at 07:00 GMT, with a 21.8-billion-euro superavit seen.

Fort Financial Services

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What’s next? – GOLD, OIL 08.12.17

No comments : Posted by Anonymous at 15:53 Labels: what’s next

GOLD

Gold futures were lower in early trading hours on Friday as investors turned to official labor data scheduled for release later in the day in the US session.

On the Comex division of the New York Mercantile Exchange, gold futures were down 0.17 percent at $1.251.90 a troy ounce as of 06:50 GMT.

The yellow metal settled to the downside on Thursday near four-month lows as the dollar continued to gain on the back of rising optimism over the long-awaited US tax reform.

The US dollar index, which measures the greenback against six major currencies, was trading at 93.86 by the time of this writing, up 0.10 percent.

Gold extended losses for a third consecutive session as market participants are increasing their bets on a potential tax reform bill meant to reduce tax pressure for individuals and corporations.

According to the Trump administration, cutting taxes will allow citizens to have more cash in their pockets, boosting consumption and inflation, and also attract companies to relocate profits.

Also supporting the greenback were reports on a deal between Senate and House Republicans to pass a bill that would allow to skip a government shutdown in the upcoming days.

The US Labor Department said initial jobless claims stood at 236,000 last week, below an estimated 240,000 and a previous week 238,000.

Dollar-denominated gold is sensitive to interest rate moves. A stronger base currency makes the metal more expensive and less competitive for investors holding other currencies.

Fed funds tracked by CME Group’s FedWatch tool show participants weighing in a nearly 100 percent chance of a 25 basis points rate hike at the December 13 monetary meeting.

Ahead in today’s session, focus will be at fresh labor market data, including the unemployment rate, average hourly earnings and most importantly, nonfarm payrolls for November.

OIL

Oil futures were slightly lower in early trading hours on Friday, as market participants turned their attention to the weekly oil rig count, which is due later in the day.

Oilfield services firm Baker Hughes will release its weekly oil rig count as of 18:00 GMT. Last week, it reported a raise by 2 rigs to a total count of 749 units, the highest level since Sept.

The US West Texas Intermediate crude contracts were down 0.09 percent to $56.64 per barrel as of 06:50 GMT. Meanwhile, Brent futures eased 0.05 percent to $62.17 a barrel.

Sentiment in the oil market continued to be influenced by the same factors: OPEC-led output cuts and speculation on a larger US shale oil production.

Earlier this week, the Energy Information Agency (EIA) said crude stockpiles fell by 5.6 million barrels in the week ended December 2, more than a forecasted 3.4 million barrels drop.

The agency also said gasoline supplies added 6.8 million barrels, above an estimated 1.7 million barrels build. Distillate products grew 1.7 million barrels vs a 967,000-barrel draw seen.

Previously, the American Petroleum Institute had said crude inventories dropped by 5.481 million barrels last week.

Last week, OPEC and its allies agreed to extend its output cuts agreement beyond March 2018 for a nine-month period, with a steady reduction target of 1.8 million barrels per day.

Despite this deal has already supported growth of oil benchmarks in the past few months, traders are moderately skeptical about its ability to counteract rising supply levels.

Fort Financial Services

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Weekly Outlook: Dec 11 - Dec 15

No comments : Posted by Anonymous at 15:46 Labels: weekly outlook

Monday

United States: the JOLTs job openings report for October will be released as of 15:00 GMT.

Tuesday

Asia: Australia’s third-quarter house price index is due at 00:30 GMT, along with the NAB business confidence index for November.

Europe: the United Kingdom kicks off the week with the November edition of its consumer price index and producer price index input as of 09:30 GMT. Analysts are forecasting a 0.2 percent build in consumer prices last month. In Germany, attention will be directed to ZEW current conditions and economic sentiment for December at 10:00 GMT.

United States: a fresh look at the producer price index for November is up at 13:30 GMT. The Federal Budget Balance is scheduled for release at 19:00 GMT.

Wednesday

Europe: Germany’s consumer price index for November is due at 07:00 GMT, followed by the unemployment rate and claimant count change for October and November in the UK at 09:30 GMT. The Eurozone will present its latest industrial production figures at 10:00 GMT.

United States: the consumer price index for November will get out as of 13:30 GMT, with a 0.3 percent month-over-month build seen. And finally, the Federal Reserve will announce its long-awaited interest rate decision for December at 19:00 GMT. Federal Reserve Chairwoman Janet Yellen is set to speak following the official statement at 19:30 GMT.

Thursday

Asia: Australia will present its November employment report at 00:30 GMT, including employment change and the unemployment rate. China is due to release fixed asset investment figures and industrial product for November at 02:00 GMT, while a Japanese look at the latest one is scheduled at 04:30 GMT. The Tankan large manufacturers and non-manufacturers index for the fourth-quarter will be unveiled at 23:50 GMT.

Europe: Markit Economics will present December manufacturing and services PMI indexes for Germany and the Eurozone as of 08:30 GMT and 09:00 GMT respectively. Later on, traders will focus on the Bank of England monetary policy meeting, with announcements set at 12:00 GMT. UK retail sales for November are up at 09:30 GMT. The European Central Bank also gathers and presents its interest rate decision at 12:45 GMT.

United States: retail sales for November, along with the import and export price index are expected at 13:30 GMT. Manufacturing and services PMI indexes for December are up at 14:45 GMT.

Friday

Europe: EU’s trade balance figures for October are due at 10:00 GMT.

United States: the NY Empire States manufacturing index for December will be out at 13:30 GMT. Industrial production for November is due for release at 14:15 GMT.

Fort Financial Services

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Thursday, 7 December 2017

Asian stocks mixed; tax reform sets the tone

No comments : Posted by Anonymous at 12:01 Labels: Wall Street

Asian equity markets traded without a unified direction on Thursday, with some indexes recovering from previous session losses, while investors awaited fresh developments concerning the long-awaited tax reform in the United States and prepared for labor data.

Market players took a breather on Wednesday as several reports said Republican House and Senate will soon pass a bill to avoid a US government shutdown from Dec 8 to Dec 22.

Meanwhile, speculation over the GOP-backed tax reform continued to be a key factor for traders. Now the bill, recently voted in the Senate, enters in a negotiation phase with the House.

In that regard, the US dollar index, which gauges the greenback against six major currencies, was trading at 93.64 by the time of this writing, up 0.06 percent.

On the data front, ADP/Moody's Analytics monthly report showed US private payrolls adding 190,000 jobs in November, above an initially forecasted 185,000.

<<< Politics >>>

On Wednesday, President Donald Trump said the US will now recognize Jerusalem as the capital of Israel, a controversial move that has already been received with strong criticism in the international community, especially among Arab nations.

<<< Cryptocurrencies >>>

Bitcoin, the world’s most popular cryptocurrency, has touched a fresh all-time high of $14,000, less than a day after breaking above the $12,000 milestone.

<<< Next in Europe >>>

Investors will also keep an eye on a speech by the European Central Bank President Mario Draghi due at 16:00 GMT in search for hints on the future of monetary policy in the region.

<<< Next in the United States >>>

In the American session, traders will get a new look at the weekly initial jobless claims count as of 13:30 GMT, with an expected increase to 240,000 from a prior week 238,000 reading.

<<< Asian Stock Indexes at 06:45 GMT >>>

Australia ASX S&P +30.90 +0.51% 6,060.80

Shanghai Composite -28.28 -0.86% 3,265.69

Hong Kong Hang Seng +39.27 +0.14% 28,264.07

Japan Nikkei 225 +320.99 +1.45% 22,498.03

Taiwan TSEC 50 Index -38.16 -0.37% 10,355.76

Fort Financial Services

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What’s next? – USDJPY 07.12.17

No comments : Posted by Anonymous at 11:58 Labels: what’s next

The dollar was trading 0.27 percent higher vs the Japanese yen at 112.58 as of 05:35 GMT on Thursday, as the greenback continued to rise on the back of tax reform speculation.

The US dollar index, which gauges the greenback against six major currencies, was trading at 93.64 by the time of this writing, up 0.06 percent.

In the previous session, various reports pointed to a potential deal between GOP leadership in the House of Representatives and Senate to pass a bill and avoid a government shutdown from December 8 to December 22.

On the data front, ADP/Moody's Analytics monthly report showed US private payrolls adding 190,000 jobs in November, above an initially forecasted 185,000.

Ahead today, traders will get a new look at the weekly initial jobless claims count as of 13:30 GMT, with an expected increase to 240,000 from a prior week 238,000 reading.

The pair remains in a tight range as there haven’t been strong catalysts causing relevant moves as for this pair concerns. The 112.0 mark continues to secure the lower side, while the bullish side remains limited by 113.0 and 114.5 in extension.v

Traders are currently looking at official employment figures from the US Labor Department, which are due for release tomorrow Friday at noon.

By the end of this day in the Western world at 23:50 GMT, Japan will release its adjusted current account, third-quarter gross domestic product and trade balance figures.

Fort Financial Services

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What’s next? – DAX 07.12.17

No comments : Posted by Anonymous at 11:57 Labels: what’s next

The German stock index DAX futures were 0.29 percent higher as of 07:25 GMT at 13,038.5 points on Thursday, with players looking ahead to key economic releases later in the day.

Today, attention will be directed to German industrial production figures for October as of 07:00 GMT (Forecast: 1.0%) and a revision of Eurozone’s gross domestic product for the third quarter at 10:00 GMT (Forecast: 0.6% m/m, 2.5% y/y).

Investors will also keep an eye on a speech by the European Central Bank President Mario Draghi due at 16:00 GMT in search for hints on the future of monetary policy in the region.

On Wednesday, ECB member Yves Mersch said the regulator should start planning the end of its bond-buying program as the current level of stimulus seems unnecessary.

“While a too quick end to the buying program could lead to excessive market reactions, we should not forget that the longer the programme lasts, [...] the greater the risks will become,” said Mersch, adding that the central bank should’ve a symmetrical approach to inflation.

The benchmark ended in Frankfurt 0.38 percent or 49.69 points lower at 12,998.85, with Consumer & Cyclical, Transportation & Logistics and Technology dragging it down.

On the data front, German factory orders increased 0.5 percent in October, outperforming an expected decline of 0.3 percent, but below a prior month advance of 1.2 percent.

The best performers of the session were Prosiebensat 1 Media, which added 2.93 percent or 0.790 points to 27.740. Deutsche Boerse rose 1.03 percent or 1.000 points at 97.900 and Adidas was up 1.01 percent or 1.80 points to 179.25.

The worst performers of the session were Volkswagen, which dropped 2.84 percent or 4.85 points to 165.90. Deutsche Post eased 2.70 percent or 1.100 points to 39.600 and Commerzbank was down 2.22 percent or 0.275 points at 12.090.

Fort Financial Services

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What’s next? – GOLD, OIL 07.12.17

No comments : Posted by Anonymous at 11:55 Labels: what’s next

GOLD

Gold futures were lower in early trading hours on Thursday, with market participants looking ahead to fresh economic releases in Europe and the United States later in the day.

On the Comex division of the New York Mercantile Exchange, gold futures were up 0.49 percent at $1.259.90 a troy ounce as of 07:25 GMT.

The yellow metal traded close to six-week lows on Wednesday as the greenback gained support in the light of easing uncertainty over a possible US government shutdown.

In the previous session, various reports pointed to a potential deal between GOP leadership in the House of Representatives and Senate to pass a bill and avoid a government shutdown from December 8 to December 22.

On the data front, ADP/Moody's Analytics monthly report showed US private payrolls adding 190,000 jobs in November, above an initially forecasted 185,000.

The US dollar index, which gauges the greenback against six major currencies, was trading at 93.64 by the time of this writing, up 0.06 percent.

Dollar-denominated gold is sensitive to interest rate moves. A stronger base currency makes the metal more expensive and less competitive for investors holding other currencies.

On Wednesday, President Donald Trump said the US will now recognize Jerusalem as the capital of Israel, a controversial move that has already been received with strong criticism in the international community, especially among Arab nations.

According to some analysts, this announcement could bring some consequences to the administration, possibly weighing on the dollar.

In the American session, traders will get a new look at the weekly initial jobless claims count as of 13:30 GMT, with an expected increase to 240,000 from a prior week 238,000 reading.

OIL

Oil futures were mixed in early trading hours on Thursday, as market participants continued to digest inventory data from the United States, while looking ahead to the weekly oil rig count.

The US West Texas Intermediate crude contracts were down 0.09 percent to $55.91 per barrel as of 07:25 GMT. Meanwhile, Brent futures up 0.08 percent to $61.27 a barrel.

Benchmarks settled in red territory on Wednesday following a third-straight weekly decline in crude stockpiles and a larger-than-expected increase in gasoline reserves.

The Energy Information Agency (EIA) said crude supplies dropped 5.6 million barrels for the week ended December 2, outperforming expectations of a 3.4 million-barrel drop.

The report also showed gasoline stocks growing 6.8 million barrels, above a forecasted 1.7 million barrels build. Distillate products rose 1.7 million barrels vs a 967,000-barrel draw seen.

Some analysts noted that it was not entirely uncommon to see gasoline stockpiles rising at this time of the year, but the build could be related to weak demand levels.

Previously, the American Petroleum Institute had said crude inventories fell by 5.481 million barrels last week.

Oilfield services provider Baker Hughes will release its weekly oil rig count on Friday. Last week, the firm reported a raise in the total oil rig count to 749 units, the highest level since September.

Earlier this week, benchmarks were supported by bullish sentiment related to the extension of the OPEC-led output cuts agreement for a nine-month period beyond March 2018.

Fort Financial Services

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Differences that matter: demo and trading accounts

9 comments : Posted by Anonymous at 11:52 Labels: success tips

Two days ago we spoke about different ways to understand whether it is time to move from a demo trading account to a real trading account. However, we have not mentioned the differences of these types of accounts in terms of trading psychology. Let’s see:

1 - A real account switches on real emotions

Trying to keep emotions away from your trading terminal might be the right thing to do, but let’s all simply agree on the fact that that is quite unnatural. Emotions, if managed correctly, can actually help you become a better trader.

Staying emotionless in a demo account is rather easy as you operate in a risk-free trading environment. When real money is on stake, emotions become stronger and the game gives a 360 degree turn that could threaten your portfolio.

2 - Development of risk management skills

You have no liquidity problems. In less than 10 minutes, your account has received 10,000 USD for trading. Of course, I am talking about a demo account. As everything moves smoothly, you don’t really think about the size of your trades. Until markets hit you and your balance falls down.

The problem is… there is no “restart” button in a real account. That is why practicing risk management skills EVEN when operating in a demo version will put you a step ahead.

3 - When real bucks are on play, things get serious

Despite the obvious limitations of a demo trading account, you make it more realistic by just changing your attitude and mindset from demo to real.

Build habits of real traders, be consistent, be methodic, be smart. Read the news, analize and do not get lazy. Staying on top of the game is falls entirely on your hands.

Practice risk management as a real pro will do. Set right your stop loss and take profit orders. Do not risk more than 1% of your capital in a single trade.

Fort Financial Services

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Wednesday, 6 December 2017

Asian stock indexes drop following Wall Street’s weak close

No comments : Posted by Anonymous at 11:16 Labels: Wall Street

Equity indexes in Asia were mainly lower in late hours on Wednesday, as investors’ sentiment was affected by a weak close on Wall Street and as Australia missed its Q3 GDP estimation.

The Australian economy expanded by 0.6 percent in the three months leading to September, down from an initially forecasted 0.7 percent build. On yearly basis, the growth rate stood at 2.8 percent, also below an expected 3.0 percent.

In the previous session, the Reserve Bank of Australia (RBA) announced its decision to keep steady its cash rate at a record low of 1.5 percent. Central bank analysts noted that the country’s economy is likely to expand at nearly a 3 percent rate in the next few years.

On the corporate front, Samsung Heavy Industries stocks dropped 28 percent with news agency Reuters saying the company is expected to fill an operating loss of $220 million next year.

Overnight, Wall Street was marked by a red close as technology stocks were unable to sustain optimism among investors as speculation over Trump’s tax reform bill continued to weigh.

The Dow Jones industrial average ended 109.41 points lower at 24,180.64, while the S&P 500 took a 0.4 percent hit to finish at 2,629.57. The Nasdaq was down 0.2 percent at 6,762.21.

The ISM non-manufacturing PMI fell short on expectations at 57.4 in November from a predicted 59.0 reading and a prior month 60.1.

In other news, the Commerce Department said the trade deficit expanded in October from $44.90 billion to $48.70 billion, above an estimated growth to $47.50 billion.

<<< Next in Europe >>>

Ahead in today’s session, Germany’s factory orders for October are due for release at 07:00 GMT, while a speech from ECB member Mersch is scheduled at 10:30 GMT.

<<< Next in the United States >>>

In the US agenda today, focus will be directed to the ADP nonfarm employment change for November, a report that anticipates official NFP on Friday.

<<< Asian Stock Indexes at 06:50 GMT >>>

Australia ASX S&P -27.40 -0.45% 6,029.90

Shanghai Composite -25.23 -0.76% 3,278.45

Hong Kong Hang Seng -483.61 -1.68% 28,359.19

Japan Nikkei 225 -445.34 -1.97% 22,177.04

Taiwan TSEC 50 Index -172.93 -1.64% 10,393.92

Fort Financial Services

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What’s next? – USDJPY 06.12.17

No comments : Posted by Anonymous at 11:14 Labels: what’s next

The dollar was trading 0.37 percent lower vs the Japanese yen at 112.16 as of 05:35 GMT, with investors awaiting for fresh data in search direction.

The US dollar index, which gauges the American currency against six major rivals, was trading at 93.18 by the time of this writing, down 0.16 percent.

In the previous session, the dollar extended gains following the approval of Republican-drafted tax reform bill by the Senate, meant to cut taxes to boost economic growth and inflation levels.

That would push the Federal Reserve to increase interest rates at a faster pace, and maybe even consider ramping up the plan to unwind the regulator’s massive balance sheet.

Reports released in the last few days are suggesting a joint resolution between the Senate and the House of Representatives will be ready before Christmas.

In the US agenda today, focus will be directed to the ADP nonfarm employment change for November, a report that anticipates official NFP on Friday.

Support for the greenback today is easing, specially following downbeat activity data in the services sector. The ISM non-manufacturing PMI fell short on expectations at 57.4 in November from a predicted 59.0 reading and a prior month 60.1.

In other news, the Commerce Department said the trade deficit expanded in October from $44.90 billion to $48.70 billion, above an estimated growth to $47.50 billion.

If the downtrend gains momentum and the 112 mark gets broken, we could see an extension to the 111 level and further, although that one is expected to offer strong support for the pair.

On the contrary, a break above 113 would open the gates to further growth up to 114.5 and 115.0 depending on the intensity of the bullish dynamic.

Fort Financial Services

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What’s next? – DAX 06.12.17

No comments : Posted by Anonymous at 10:35 Labels: what’s next

The German stock index DAX futures were 0.33 percent lower as of 05:55 GMT at 13,006 points on Wednesday, as trading activity remains constricted in the lack of catalysts.

Ahead in today’s session, Germany’s factory orders for October are due for release at 07:00 GMT, while a speech from ECB member Mersch is scheduled at 10:30 GMT.

The German benchmark ended at 13,048.54 on Tuesday in Frankfurt, with a tiny loss of 0.08 percent, with Basic Resources, Food & Beverages and Insurance weighing on the index.

Sectors such as Utilities, Technology and Financial Services contributed to cap losses during the session and keep the benchmark within the current thin range.

On the data front, activity in Germany’s services sector notched down in November to 54.3 from a prior month reading of 54.9. Eurozone’s services PMI came in line with expectations at 56.2.

Also, retail sales in the Eurozone dropped 1.1 percent in October, more than a forecasted decline of 0.7 percent and a previous month 0.8 percent increase.

The best performers of the session were Vonovia, which adde 2.25 percent or 0.90 points to 40.66, Infineon Technologies rising 1.99 percent or 0.445 points to 22.815 and Deutsche Boerse up 1.79 percent or 1.700 points to 96.900.

The worst performers of the session were Volkswagen, which dropped 1.50 percent or 2.60 points to 170.75. Thyssenkrupp fell 1.31 percent or 0.300 points to 22.560 and Bayer was down 1.16 percent or 1.25 points at 106.15.

Fort Financial Services

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What’s next? – GOLD, OIL 06.12.17

No comments : Posted by Anonymous at 10:30 Labels: what’s next

GOLD

Gold futures were higher in early hours on Wednesday as market players looked ahead to unofficial employment data later in the day.

On the Comex division of the New York Mercantile Exchange, gold futures were up 0.32 percent at $1.269.20 a troy ounce as of 05:35 GMT.

On Tuesday, the yellow metal traded in red territory as the recent green light to a major US tax reform bill continued to support the American currency across the board.

Gold futures were down about 0.21 percent at $1,275.10 per ounce as of 12:40 GMT.

The dollar recovered following the approval of Republican-drafted tax reform bill by the Senate, which is meant to reduce taxes and therefore, boost economic growth and inflation levels.

Those factors would push the Federal Reserve to increase interest rates at a faster pace, and maybe even consider ramping up the plan to unwind the regulator’s massive balance sheet.

Reports released in the last few days are suggesting a joint resolution between the Senate and the House of Representatives will be ready before Christmas.

The US dollar index, which gauges the American currency against six major rivals, was trading at 93.18 by the time of this writing, down 0.16 percent.

Dollar-denominated gold is sensitive to interest rate moves. A stronger base currency makes the metal more expensive and less competitive for investors holding other currencies.

Ahead in today’s session, German factory orders for October are up at 07:00 GMT, with a 0.3 percent decline seen. In the United States, focus will be directed to the ADP nonfarm employment change for November, a report that anticipates official NFP on Friday.

OIL

Oil futures were lower in Asian trading hours on Wednesday, with market players digesting inventory estimates and preparing for official data later in the day.

The US West Texas Intermediate crude contracts were down 0.38 percent to $57.40 per barrel as of 06:05 GMT. Meanwhile, Brent futures down 0.37 percent to $62.63 a barrel.

Crude benchmarks were mixed on Tuesday as support from the OPEC-led output cuts agreement extension eased and concerns over rising US shale oil production weighed.

Overnight, the American Petroleum Institute said crude inventories dropped by 5.481 million barrels last week, above an estimated decline of 4.1 million barrels.

Ahead in today’s session, investors will be focusing on the release of crude and refined products stockpiles figures by the US Energy Information Administration.

Last week, oilfield services provider Baker Hughes reported a raise in the total oil rig count to 749 units, the highest level since September.

According to recent EIA data, shale oil production in the US has grown nearly 15 percent since a bottom in mid-16 and increasing rigs preview even further advances.

Investors doubt that OPEC and its allies will be able to counteract increasing US production and continue to support prices. Last week, output cuts were extended for nine-months until the end of 2018, although the target reduction remained at 1.8 million barrels a day (bpd).

Fort Financial Services

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Greed: Not Good For Your Account

8 comments : Posted by Anonymous at 10:27 Labels: trading tips

For those who belong to the “Greed Is Good” generation, this is sensitive topic indeed. Just imagine, being raised thinking that greed is the what moves people, countries and literally everything around you.

At some point, you have probably understood there was something wrong with that philosophy as you have met people entirely motivated by things can’t simply be bought with money.

Before moving forward with that idea, it is important we have a unified definition of greed: “A selfish and excessive desire for more of something (such as money) than is needed” (Source: Merriam-Webster).

The key word in this definition is “excessive”, because after all there is nothing wrong with desiring to have some money. Excessive is what drives people into crazy, bad decisions.

Balance is the ideal state of a trader. Why do you think yoga is so popular? Because it helps people to calm down, find balance between all what happens around. In trading, there are two sides that you should avoid: greed and fear. These places are toxic for your portfolio.

While greed pushes to act impulsively in search for higher returns, fear will keep you from taking potentially good opportunities to make money. In both cases, failure is just around the corner.

Instead, try practicing some critical thinking, defining clear and reachable goals that will serve as motivation, not as pressure. Giving yourself time to think and take decisions that last and will bring joy, that’s where you should put your money.

Fighting greed?

Yes, it is possible to overcome greed, but it is not easy. A good place to start is sitting down and breathing deeply, trying to understand what is wrong with your trading right now. What makes you feel out of place? Is it that you are opening too many positions? Risking excessively?

Maybe it’s time to follow a plan consistently, reducing the number of positions opened randomly and yes, working on your risk management skills.

And remember: never is too late for positive change.

Fort Financial Services

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Tuesday, 5 December 2017

FortGold is a daily contest that offers 10 USD for the winner!

718 comments : Posted by Anonymous at 15:21 Labels: Contest

International financial broker FortFS launches an outstanding daily contest “FortGold” for the best gold quotes forecast. As well as in any other similar contest during the day the participants have to leave their forecasts in this blog. The next day the competition results are summarizing according to which the winner receives 10 USD to the real trading account opened in FortFS.

You send us your forecast – we pay you the 10 USD prize!

Common rules for FortGold contest:

  1. Contest is held on weekdays on a daily basis.
  2. The contest will take place only if the total amount of forecasts for the day is 5 or more
  3. Forecast might be applied on forum in “FortGold” topic starting from 03:00 and up to 18:00 (GMT+3).
  4. Each participant is allowed to leave a forecast only once in a day.
  5. To win the prize you shall provide as accurate as possible quotes forecast for XAU/USD contract at the moment of the trading session end.
  6. The difference between the forecasts must be no less than five pips. For example, if there is a forecast on 1.1055 it means that the next one must be set at 1.1060 or 1.1050.
  7. Closing price is determined according to FORT (four digit) account type of “Fort Financial Services” trading platform.
  8. Daily prize pool (prize fund) is 10 USD.
  9. Prize amount and its profit are available for withdrawal as soon as you complete 1 lot of required trading turnover.
  10. Prize is credited to the real trading account that is registered and verified in Fort Financial Services Company.
  11. The winner is selected the next day and the name appears in this topic. To get the prize the winner should send a private message to the company’s official representative on forum specifying the real trading account number.
  12. The prize is credited within the day after receiving of private message.
  13. The contest starts on 5th of December 2017. More info concerning the end date coming soon.

Take a part and get your prize!

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