Sunday, August 9, 2009

What is Forex (Foreign Exchange)?

Foreign Exchange (FOREX) is the arena where a nation's currency is exchanged for that of another. The foreign exchange market is the largest financial market in the world, with the equivalent of over $1.9 trillion changing hands daily; more than three times the aggregate amount of the US Equity and Treasury markets combined. Unlike other financial markets, the Forex market has no physical location and no central exchange (off-exchange). It operates through a global network of banks, corporations and individuals trading one currency for another. The lack of a physical exchange enables the Forex market to operate on a 24-hour basis, spanning from one zone to another in all the major financial centers.

Traditionally, retail investors' only means of gaining access to the foreign exchange market was through banks that transacted large amounts of currencies for commercial and investment purposes. Trading volume has increased rapidly over time, especially after exchange rates were allowed to float freely in 1971. Today, importers and exporters, international portfolio managers, multinational corporations, speculators, day traders, long-term holders and hedge funds all use the FOREX market to pay for goods and services, transact in financial assets or to reduce the risk of currency movements by hedging their exposure in other markets.

MG Financial, now operating in over 100 countries, serves all manner of clients, comprising speculators and strategic traders. Whether it’s day-traders looking for short-term gains, or fund managers wanting to hedge their non-US assets, MG's DealStation™ allows them to participate in FOREX trading by providing a combination of live quotes, Real-Time charts, and news and analysis that attracts traders with an orientation towards fundamental and/or technical analysis.

How to Get Started

People are introduced to the exciting world of foreign exchange in many ways: friends, current events, newspapers, television, and many others. For those of you who are new to forex, the following guidelines cover the basics of currency trading.

Step 1: "Practice makes perfect"

Demo trade. The demo account was designed to help traders gain familiarity with the speed and movements of the market. When you are demo trading, you should learn how to: 1) place market orders to enter a trade, 2) place stop-loss orders to protect your positions, and limit orders to take profits, 3) place OCO orders and If Done Orders to execute more advanced strategies.

Step 2: "Study, Study, Study".

Forex traders use fundamental analysis, technical analysis, quantitative analysis and sometimes a combination of all three to make their trading decisions. Fundamental analysis involves the use of economic, financial and political news to determine trading decisions. Technical analysis involves the study of Charts to predict future price movements based on past price patterns and trends. Quantitative analysis consists of the use of preset statistical models and properties in quantifying price formations such as averages, retracements as well as identifying oversold and undersold situations.

In order to help novice and experienced traders alike, MG has developed www.forexnews.com, a leading site on foreign exchange analysis, news and education. Comprehensive previews and summaries updated 4 times per day, insightful editorials covering the latest market developments and an open forum for discussing trading tips and ideas, are just some of the many features of Forexnews.com and MG's commitment to educating and informing Forex participants.

Step 3: Manage your money wisely.

You should always be aware of the amount of money in your account before placing a trade. If you think a long-term trend is developing, then you should consider whether you have enough funds to maintain your margin and withstand any movements against your position(s) that may occur. We encourage everyone who opens an account with us to ask themselves the following questions prior to entering each trade:

1) How much am I willing to risk?
2) What is my upside and downside potential?
3) What are the market conditions? (Is the market volatile or calm?)
4) What is the logic behind entering this trade?
5) When can I conclude if the assumptions/logic behind the trade are/is correct or wrong?

Before entering an order, you should consider both your entry and exit points. One of the mistakes most commonly made by traders, especially new traders, is letting emotions get in the way of their strategy.

Step 4: Stay Connected:

It is impossible to follow the forex market 24 hours day, 7 days a week. For better management of your account, we encourage you to use our Wireless Service and alert!FX™.

Step 5: Open a Live Account.

If you feel ready to trade this market, fill out our application forms and submit them today. Since the emotional factor may be higher than it was when you were demo-trading (as you are now committing real money), it is essential that you develop an effective strategy while demo-trading and plan to abide by it when trading your live account.

We hope you enjoy trading with us and wish you the best of luck!

Why trade in the MG Demo Contest???

The MG Demo Trading Contest is an on-going competition open to global contestants which allows participants to operate a virtual currency trading account with the following benefits:

* Further prepare traders for live trading.
* Chance to win $1500 or $3000 contest credit to begin live trading ($3000 contest credit applies to the Ultimate Demo Contest participants)
* Receive free access to the Charts & News Software for the length of the contest, a $44.95 per month value.
* Low cost to enter: $44.95 per month for the Monthly Contest or $500 per year for the Ultimate Demo Contest
* Ease of funding by wire transfer, check or credit card from anywhere in the world.
* Trade from anywhere through Internet, your web-enabled PDA or Mobile Phone.

Demo trading terms and conditions:-

Demo trading and the Demo contest serve a demonstrative purpose only. Trading a live account may be significantly more difficult and risky for many reasons including but no limited to the inability or unwillingness of counterparties to honor indicative pricing, illiquidity of a particular currency pair(s), extreme volatility of the currency market(s), as well and the added physical and psychological stress of a real money trade. Although customers are encouraged to use the demo trading account and the demo contest for the purpose of learning and familiarizing themselves with the DealStation platform, trading a demo account may not prepare a customer or potential customer for all the risks associated with live forex trading. Please read the full risk disclaimer to find out about some of the many risk factors involved in forex trading.

Forex trading [ how to trade ].

The investor's goal in Forex trading is to profit from foreign currency movements. Forex trading or currency trading is always done in currency pairs. For example, the exchange rate of EUR/USD on Aug 26th, 2003 was 1.0857. This number is also referred to as a "Forex rate" or just "rate" for short. If the investor had bought 1000 euros on that date, he would have paid 1085.70 U.S. dollars. One year later, the Forex rate was 1.2083, which means that the value of the euro (the numerator of the EUR/USD ratio) increased in relation to the U.S. dollar. The investor could now sell the 1000 euros in order to receive 1208.30 dollars. Therefore, the investor would have USD 122.60 more than what he had started one year earlier. However, to know if the investor made a good investment, one needs to compare this investment option to alternative investments. At the very minimum, the return on investment (ROI) should be compared to the return on a "risk-free" investment. One example of a risk-free investment is long-term U.S. government bonds since there is practically no chance for a default, i.e. the U.S. government going bankrupt or being unable or unwilling to pay its debt obligation.

When trading currencies, trade only when you expect the currency you are buying to increase in value relative to the currency you are selling. If the currency you are buying does increase in value, you must sell back the other currency in order to lock in a profit. An open trade (also called an open position) is a trade in which a trader has bought or sold a particular currency pair and has not yet sold or bought back the equivalent amount to close the position.

However, it is estimated that anywhere from 70%-90% of the FX market is speculative. In other words, the person or institution that bought or sold the currency has no plan to actually take delivery of the currency in the end; rather, they were solely speculating on the movement of that particulalry currency.

Forex Trading.

***What is Learning?

According to wikipedia learning is "the process of acquiring knowledge, skills, attitudes, values through study, experience, or teaching, that causes a change of behavior that is persistent, measurable, and specified or allows an individual to formulate a new mental construct or revise a prior mental construct (conceptual knowledge such as attitudes or values). It is a process that depends on experience and leads to long-term changes in behavior potential. Behavior potential describes the possible behavior of an individual (not actual behavior) in a given situation in order to achieve a goal. But potential is not enough; if individual learning is not periodically reinforced, it becomes shallower and shallower, and eventually is lost in that individual. Learning is sense making that enables manifestation of purpose."
In short we learn to achieve goal, to be able to behave properly in given situation. This means that we are learning constantly to adjust to changing environment. Sentence that we lean whole our lifes in light of whats above and praticulary in trading is a profound truth. Markets are changing constantly pushing traders into continous process of adjusting themselves to new situations. Traders who stops progressing with market changes, who at some point stops learning are quickly eradicated from the market as their methods cease to adjust and become obsolete.

***What is Implicit learning?

It is new approach to answering question how trader gain expertise. Simplest way to describe it is to do it through example.
People learning languages not always can verbalize grammar rules but they know which sentence is correct and which isn't. For example I know nothing about grammar rules in english as it's not my first language. I've learned it from computer games mostly so although I'm pretty proficient in this language, during university times all english grammar tests weren't returning any good results.
Same with trading. Traders are not always able to say why they entered long or short position but it shows to be a good decision. This is because most of time trader is making decisions basing on current price behavior and they almost always make it with very limited information.

***How to learn to trade the market?

Through practice. Keep in mind that many succesful traders become successful after long period of trading practice . It take years to be a good carpenter, more than decade to be an excellent carpenter, how long it will take to be an excellent trader then? Of course it all depends on individual abilities, talents and motivation but even highly talented traders didn't achieve full success right away after sitting before screen and start trading . If you want to be a trader prepare for years of practice and tons of readed materials - it is the only way.

Friday, August 7, 2009

Jem Griffiths (a.k.a. Jem) singer of LOVE ....





Jem Griffiths (a.k.a. Jem) Jem was born in Wales, a misty and oddly shaped UK peninsula also responsible for bringing the world Tom Jones and Shirley Bassey among other things. From the age of thirteen she was singing and writing songs, basic recording equipment was ever-present and she decided that one day she would be a singer. Keeping her dreams of this future career mostly to herself however, after finishing school she headed to Sussex University.

Whilst in Brighton, Jem's great passion for music drew her into the music industry, but at this point it was the behind-the-scenes side that attracted her. She hurled her energies into club and festival promotion, became a DJ agent and finally helped set-up and run the specialist breaks label 'Marine Parade'. After a time however, it became clear something was missing. She realized that she'd been circling her own artistic instincts and it was time to take a leap of faith. But that great leap forward first required a small step back.

In November of 1999 Jem surprised her colleagues by leaving everything behind and retreating to the creatively inspired air of Wales and a lifestyle of sofa surfing. Moving from the limits of her dictaphone, she assembled a mobile studio and got cracking on her songwriting and music production craft. This turned out to be a fruitful time. She completed a strong collection of 4 demos and things began to move quickly from there.

Jem moved to London where she continued her nomadic existence and started collaborating with other writers/producers. Two days into her first writing session with acclaimed electronic producer Guy Sigsworth (Bjork, Frou Frou), the song 'Nothing Fails' was born. This collaboration between Guy, Jem and subsequently Madonna, appears as track 6 on Madonna's 'American Life' album. Her love of beats and bass also lead her to Brooklyn where she teamed up with NY hip-hop producer Ge-ology (Mos Def, Talib Kweli) and in autumn 2002 she met her now co-producer Yoad Nevo. Together they have succeeded in fusing her many musical influences to create a fresh and distinctive new sound. Jem's music is a combination of bright melodies, soul searching lyrics and diverse rhythms that grab you from the first listen. Her seemingly innocent lyrics contain those closely observed details that are as much about optimism as they are about discovery.

The aptly titled song 'Finally Woken' found its way to influential Los Angeles radio station KCRW 89.9 FM. Music Director Nic Harcourt began spinning Jem's demo on the nationally acclaimed program "Morning Becomes Eclectic" and it created a proper stir. “As soon as I heard the demo from this Welsh songstress I had no choice but to put her on our playlist,” said Nic Harcourt, “the beautiful ‘Finally Woken’ first made its way across our airwaves in March 2002 and ‘Flying High’ has become one of my favorites.” With each play causing an assault on the station's telephones, her demo tracks quickly made her one of the most listener-requested artists at the station and landed her in their coveted top 5 played artists, and all prior to any record label being attached.

As fate would have it, A&R Bruce Flohr was one of those listeners and he wooed her to sign onto Dave Matthews' ATO record label, which has enjoyed successes with David Gray, My Morning Jacket and Ben Kweller. Jem's EP 'It All Starts Here...' is released by ATO Records on 14th October 2003 with her full-length debut to follow in 2004. After a long and winding road to becoming a full-fledged and working artist, Jem has finally woken, indeed.

Jem was born in Wales, a misty and oddly shaped UK peninsula also responsible for bringing the world Tom Jones and Shirley Bassey among other things. From the age of thirteen she was singing and writing songs, basic recording equipment was ever-present and she decided that one day she would be a singer. Keeping her dreams of this future career mostly to herself however, after finishing school she headed to Sussex University.

Whilst in Brighton, Jem's great passion for music drew her into the music industry, but at this point it was the behind-the-scenes side that attracted her. She hurled her energies into club and festival promotion, became a DJ agent and finally helped set-up and run the specialist breaks label 'Marine Parade'. After a time however, it became clear something was missing. She realized that she'd been circling her own artistic instincts and it was time to take a leap of faith. But that great leap forward first required a small step back.

In November of 1999 Jem surprised her colleagues by leaving everything behind and retreating to the creatively inspired air of Wales and a lifestyle of sofa surfing. Moving from the limits of her dictaphone, she assembled a mobile studio and got cracking on her songwriting and music production craft. This turned out to be a fruitful time. She completed a strong collection of 4 demos and things began to move quickly from there.

Jem moved to London where she continued her nomadic existence and started collaborating with other writers/producers. Two days into her first writing session with acclaimed electronic producer Guy Sigsworth (Bjork, Frou Frou), the song 'Nothing Fails' was born. This collaboration between Guy, Jem and subsequently Madonna, appears as track 6 on Madonna's 'American Life' album. Her love of beats and bass also lead her to Brooklyn where she teamed up with NY hip-hop producer Ge-ology (Mos Def, Talib Kweli) and in autumn 2002 she met her now co-producer Yoad Nevo. Together they have succeeded in fusing her many musical influences to create a fresh and distinctive new sound. Jem's music is a combination of bright melodies, soul searching lyrics and diverse rhythms that grab you from the first listen. Her seemingly innocent lyrics contain those closely observed details that are as much about optimism as they are about discovery.

The aptly titled song 'Finally Woken' found its way to influential Los Angeles radio station KCRW 89.9 FM. Music Director Nic Harcourt began spinning Jem's demo on the nationally acclaimed program "Morning Becomes Eclectic" and it created a proper stir. “As soon as I heard the demo from this Welsh songstress I had no choice but to put her on our playlist,” said Nic Harcourt, “the beautiful ‘Finally Woken’ first made its way across our airwaves in March 2002 and ‘Flying High’ has become one of my favorites.” With each play causing an assault on the station's telephones, her demo tracks quickly made her one of the most listener-requested artists at the station and landed her in their coveted top 5 played artists, and all prior to any record label being attached.

As fate would have it, A&R Bruce Flohr was one of those listeners and he wooed her to sign onto Dave Matthews' ATO record label, which has enjoyed successes with David Gray, My Morning Jacket and Ben Kweller. Jem's EP 'It All Starts Here...' is released by ATO Records on 14th October 2003 with her full-length debut to follow in 2004. After a long and winding road to becoming a full-fledged and working artist, Jem has finally woken, indeed.

come and closer - Jem.


Come on closer
I wanna show you
What I'd like to do
You sit back now
Just relax now
I'll take care of you

Hot temptations
Sweet sensations
Infiltrating through
Sweet sensations
Hot temptations
Coming over you

Gonna take it slow babe
Do it my way
Keep your eyes on me
Your reaction
To my action
Is what I want to see

Rhythmic motion
Raw emotion
Infiltrating through
Sweet sensations
Hot temptations
Coming over you

And now you're satisfied
A twinkle in your eye
Go to sleep for ten
And anticipating
I will be waiting
For you to wake again

Hot temptations
Sweet sensations
Infiltrating through
Sweet sensations
Hot temptations
Coming over you

[When you wake up we'll
do it all again]
[When you wake up]
[When you wake up we'll
do it all again]
[When you wake up]

Hour after hour
of sweet pleasure
After this I guarantee
you'll never wanna leave
Shut your eyes and think about
what I'm about to do
Sit back relax I'll take my time
this lovin's all for you


~Jem Griffiths (a.k.a. Jem)~

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