Switzerland was once a great place to move your assets to and enjoy the benefits of top of the line banking secrecy. The Swiss economy lives of the banking powerhouse which was created a long time ago and wealthy individuals have flocked to Switzerland from all over Europe, the U.S. and to a lesser degree from Asia. Swiss secrecy protected capitalists and sheltered them from the socialists who made it their personal mission to chase them all over the world. It was a great place to go and conduct business while knowing that your assets and...
There are a lot of new forex traders who pay little attention to the lot sizes they trade other than when they calculate how much money they could earn. Trading the proper lot size is part of effective risk management and not only important to protect your bottom line, but it also improves your overall trading efficiency as well as trading results which translates into better profits. While there is no one correct approach to trading the proper lot size in your forex portfolio, just like there is no one proper percentage level for your...
PaxForex finished the first week in February with 385 pips in net profits as seven open positions were closed; two AUDNZD long position, two EURCAD short positions, one CADJPY short position, one AUDUSD long position as well as one silver long position. We had the following four trading recommendations this week: Monday, February 3rd – GBPJPY Reversal Rally Set-up; First Long @ 173.50; Second Long @ 166.00; Hedge @ 165.25 Tuesday, February 4th – USDJPY Forms Falling Wedge; Pending Order Cancelled; Currency Pair rallied before...
Greece, ground zero of the debt crisis, continues to get slammed around. Greece does not have a lot going for itself right now. Wait, let me rephrase that one; Greece has nothing going for itself right now other than media coverage. You know what they say, bad press is press. After Spain was on investors’ minds due to its looming full bailout which nobody can afford, Italy took the ball and passed it back to Greece rather fast. This time around S&P lowered the ratings outlook on Greece from CCC stable to CCC negative. Keep in mind...
Spain announced its 2013 budget which will go to parliament on Saturday for ratification. Unlike most of its idiotic socialist peers, Prime Minister Rajoy’s government focused on spending cuts rather than tax hikes. It appears that, at least momentarily, Spain’s leadership understands that spending needs to be trimmed in order to get budget back in order. They also understand that revenue is short and that tax hikes decrease tax revenues which is why they try not to touch them. They should cut taxes at least at the same rate they cut...
