Why Trade Forex With Japanese Candlesticks ?

Japanese candlesticks have been around awhile but it's still hard to find anybody except the gurus who can converse about the subject with any authority. When it comes to forex trading, finding anything knowledgeable about the subject is even harder. In fact, many forex traders are under the mistaken belief that candlesticks can't be used in the currency markets! Through my years of trading forex it has become apparent to me that Japanese candlestick charts had all I was looking for in a trading system that allowed me the greatest profit potential. However, many forex traders still haven't taken the proper steps to incorporate candlesticks into their trading.
As I said before, candlesticks are nothing new. Their signals have been around for hundreds of years as they where used by Japanese commodity traders centuries ago. They don't involve complicated formulas or extensive calculating processes to master the system. Candlestick charting is so simple in fact that I believe the simplicity is the reason most traders give candlestick trading nothing more than a passing glimpse.
Most technical analysis strategies today are so complicated that it has all but taken the price patterns out of the equation. Well, price patterns are the root of technical analysis and determining the psychology behind them. Candlesticks do this without the need for fancy indicators or complicated systems.
Most forex traders who truly investigate candlestick trading and put forth an honest effort into learning the bullish and bearish signals candlestick charting provide will really see a difference in their trading success. Candlestick signals provide extremely accurate results in all currency pairs and in all time frames.
Buy low and sell high is a common saying among traders, but most traders fail at this goal because they don't know how to find the low. Buy low and sell lower is what many forex traders have found to be the case in their trading. But it doesn't have to be that way! Once mastered, candlestick charting will provide the trader the ability to find trades that are at a bottom or very near to it.
Japanese candlestick charting doesn't take months to master. With practice the patterns can be memorized in a few short weeks and the trader will begin to see these patterns reveal themselves on the charts soon afterward. The most enjoyable aspect of candlestick trading is the patterns begin to stick out like a sore thumb on a currency chart and the trader no longer has to spend as much time analyzing a single pair. The time spent on a single chart is much less so more charts can be studied in a shorter amount of time.
If you haven't tried Japanese candlesticks as a means of analyzing your trades, I urge you to give them an honest try. I believe you'll find them as easy as they are profitable.
B.M. Davis is an active trader and the publisher of the Forex Candlestick System. If you would like more information about candlestick charting the forex market please visit http://www.forexcandlestickcourse.com/
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Does Credit History Follow You Upon Relocation From The United States To Canada?

We recently received a very good question from a foreign exchange student whois moving out of the country. He asked if the credit established in the U.Sfollows a person, in this case to Canada. Here is what we found through ourresearch.SSN vs. SINIn the United States, individuals are identified by their social security number(SSN). There is no other person in the United States with an identical SSN. InCanada, people have social insurance numbers (SIN), which serves the samepurpose. Credit bureaus in Canada use the SIN to keep track of individual'scredit reports. Since the U.S and Canada are two different countries, SSN'scannot be tracked in the Canadian systems and SIN's cannot be tracked in the U.Ssystems.Credit BureausIn the United States, there are three major credit bureaus: Experian, TransUnionand Equifax. These three bureaus provide credit reports and scores for allindividuals with a social security number who have opened a line of credit or aloan. Canada's credit bureaus follow the same procedures.In Canada, the three major credit bureaus are Equifax Canada, TransUnion Canadaand Northern Credit Bureaus, Inc.. In several scenarios, people have found thatthe United States TransUnion and the Canada TransUnion share the same data intheir systems. In result, there may be a possibility of a Canadian financialinstitution pulling your U.S credit history. This could be good for people withpositive credit and bad for those with not so good credit. Equifax may do thesame and share their data between countries. We have found that Experian has noeffect in foreign credit because it only conducts reports on U.S residents. Thesame applies for Northern Credit Bureaus and its Canadian residents.Credit ScoresAs far as credit scores go, TransUnion Canada and Equifax Canada have bothimplemented the FICO system from the United States. The only difference being iscredit scores in Canada range between a score of 300 and 900. Scores in theUnited States use a scale of 300-850.Scores closer to 900 are a lower risk for the lenders, which could mean a lowerinterest rate to the borrower. The opposite can be said for scores closer to300. These scores would be a much higher risk for the lender and in result wouldmean a higher interest rate for the borrower.If I do not have an SIN and am a American citizen, how do I apply for credit ifI move to Canada?Just like in the U.S, in Canada it is hard to obtain credit without a credithistory. You can walk inside a Canadian bank and explain your situation to them.Some banks in Canada will ask for some information from your U.S credit report.This will enable them to make an easier and quicker decision to issue credit.Some may offer you a secured credit card which will help you build a credithistory by depositing a certain amount on a pre-paid credit card and then makepayments.Also, as stated above, TransUnion may have the ability to display U.S creditreport information to Canadian financial institutions because of shared databetween TransUnion Canada and the United States TransUnion.What if I want to move to Canada for an extended period of time and then moveback to the United States?If you are not planning on being a long term resident or are not planning onbuying a home, it may be best to stick with United States based internationalcredit cards. Credit card companies with affiliates in the U.S and Canada wouldwork best. These cards will work in both countries but will only report to theU.S credit bureaus.Here is an excerpt from the U.S Department of State: "If you will be abroad foran extended period, you may want to arrange for the delivery of your mail. Somebanks and international credit card companies handle mail for customers at theiroverseas branches. In addition, post offices in many countries will hold mailfor travelers under their General Delivery (Poste Restante) services. U.S.Embassies and Consulates do not handle private mail. Check with the embassy ofyour destination country to see if that will be possible there. A listing offoreign embassies and consulates in the U.S. is available at http://www.state.gov/s/cpr/rls/dpl/32122.htm."A safe bet is that if you owe on a debt in the U.S and move out of the country,you will owe on that debt upon your return, as it will be recorded on yourcredit report. Will creditors try to collect from you in another country? Wellthat is the golden question. The golden response is, they may have a right tocollect. Will that new country consider your U.S credit history? It may.Regardless of where you move, it is best to maintain a positive credit history.If your new country of residence chooses to look at your U.S credit history youwant to make sure it is clear of negative information. However, one cannotassume that a positive U.S credit history will help establish new credit inanother country. http://lforex.blogspot.com/2007/09/does-credit-history-follow-you-upon.html

What Is Forex Trading? Is It Right For Me?

Foreign Currency Exchange (FOREX) Trading is an exhilarating way to tradeforeign currency in a market that runs 24 hours a day, five days a week. TheForex market is also the most volatile financial market in the world. It doesn thave a physical location, trading floor or central exchange like the NYSE orfutures market does, but instead it functions and operates amid a global networkof banks with trades taking place over an electronic network or by phone. Withits nearly nonstop currency market where Forex brokers trade in the currenciesof the world, profits are made or lost depending on how various nationscurrencies increase or decrease relative to each other. Current, real timeevents can influence currency prices and thus Forex trading brokers typicallykeep track of worldwide events on a minute by minute, hour by hour basis eachday.Even though Forex trading is volatile, there are many things to like about it.Since the Forex Trading System is open 24 hours a day, the majority of eachweek, it allows for ample time and numerous trading opportunities around theclock. This means Forex Brokers are not under as much pressure to initiate atrade as quickly as if they were playing the stock market. Also, since worldgovernment currencies are very liquid, they are much easier to trade than othersecurities. As with the stock and option markets, profits can be made eitherway, whether in a rising or falling market. And since Foreign Currency Tradingis volatile by nature, it can afford even more profit opportunities than othermarkets.Of course a person s Forex Trading Strategy should be to profit from themovement in currency values. As with any financial market, the more times aperson gets it right , the more money they will make. In Forex or FX Trading,currency pairs are always used. FX Traders will try to determine, for instance,if the U.S. Dollar will rise in value over the British Pound, or vice versa.This is called a Currency Pair. Another trader may have some Forex informationthat informs them that the Euro will increase in value against the Dollar. Theywould then pay X amount of Dollars for X amount of Euros. As time went on andthe Euro did strengthen against the Dollar then they could sell the Euros foreven more Dollars than they had invested originally. Foreign Currency Exchangeis essentially the simultaneous buying of one currency and the selling ofanother.There is no doubt that the Forex Currency Trading System is unique. It has itsown set of rules and opportunities. It can be as fast moving or slow as a traderwould like. A big advantage is the number of hours in a week that a trader canplace and execute trades. It can be volatile just as with any market. If aperson studies their options and does their homework, a great deal of profitmaking opportunities exists in Foreign Currency Trading. As with any financialmarkets, a good Forex Trading Strategy will go a long way in determining whatkind of profits you will make.

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