Trading Holidays

On Thursday of this week we will be celebrating Thanksgiving here in the U.S. and on days such as that we do not trade. Also, because of the short week, we will not be holding a webinar. If you have requested a webinar invitation, information will be sent to you on Monday of next week.

This guy predicted the Financial Mess

This gentleman, long before almost anyone else, accurately predicted the situation we see playing out in the world economy. Check this out - fascinating.

Some Interesting News

In a time when it seems all economic news is bad, here is some interesting news. The U.S. cost-of-living fell 1% last month, the most in history. However, it is important to remember that news announcements, this one included, don't heavily affect our trading or our system's probability of success/failure.

A Note about Drawdown

When passing through a string of losing trades, it is always good to remember that drawdown is a common occurrence in Forex. It is the reason that Forex is a higher risk investment than many others. No two days in Forex are the same and no system is consistent on a daily or even weekly basis. The reason we share our maximum drawdown target is to remind you of that fact. Your Forex account is your Forex account and you can do with it what you will. At anytime you can withdraw your funds or have trading stopped. However, as many of you know, strings of losing trades are often followed by series of winning trades.

The important thing to know when passing through down periods is that we are disciplined traders. We are not emotionally affected by losing trades just as we are not affected by winning trades. We continue commit to you that we will trade the plan so long as we believe that it is a viable plan and are confident trading that plan with our own money.

Forex Managed Account Webinar

We are having another Forex Managed Account information webinar tomorrow, Thursday, November 13th at 4:00pm Mountain Standard Time (6:00pm EST). If you would like to join, request an invitation by visiting the Echo FX Website.

Japanese Candlesticks

As many of you know, we use Candlestick patterns for determining our exit points on our Mid-Range Trend Finder. I came across a great resource if you are interested in learning about Japanese Candlesticks, their origin, and some great uses for them.

Forex Articles

At our Echo FX Forex Managed Account home page we have included a link to the free Forex education articles we have written. If you would like to learn how to trade Forex these articles provide a good source of information.

"Increased Stability"

Some good news for world markets. The credit freeze that has crippled the financial markets over the last few months appears to be thawing. The Bank of England and the European Central Bank are expected to cut their key rate an additional 50 basis points this week which should further help solve the problem. A stabilization of these markets does not necessarily help or hurt our currency trading systems but does help all of us in our own personal financial situations.