EURUSD has formed a cycle top at 1.4535 on 4-hour chart. Further decline would likely be seen later today, and first target would be at the lower border of the price channel. As long as the channel support holds, the fall from 1.4535 is treated as consolidation of uptrend from 1.3837, and one more rise towards 1.4700 is still possible, however, a clear break below the channel support will indicate that the rise from 1.3837 has completed.
By Brian Tracy
Why do some people retire rich and most people retire poor? This question has fascinated philosophers, mystics, and teachers throughout the ages. There have been so many men and women – hundreds or thousands, maybe even millions – who started with nothing and became financially independent that people are naturally curious to know why it happened and if there are common rules or principles that others can apply to become wealthy as well.
The Parable of the Talents is one of the stories told by Jesus to illustrate a moral lesson. The message in this case (from the Gospel of Matthew): “To him that hath, shall more be given, and he shall have abundance. But from him that hath not, even that which he hath shall be taken away.”
What does it mean?
In the modern world, we say it this way: “The rich get richer and the poor get poorer.” The fact is that people who accumulate money tend to accumulate more and more. People who don’t accumulate money seem to lose even that little bit that they have.
Why should this happen?
The great success principle, the single idea that explains human destiny is simple: “You become what you think about most of the time.”
Control Your Thoughts
Whatever you dwell upon grows in your reality. You create your entire world by the things you choose to think about and how you choose to think about them.
It just so happens that wealthy, successful people fill their minds – most of the time – with thoughts, words, pictures, and images of wealth, affluence, success, productivity, and solutions to problems in the marketplace. These thoughts trigger the reticular activating cortex, the part of the brain that makes you more alert and sensitive to things that you have decided are important to you.
For example, if you decide to invest in a mutual fund, you will start to see news and information about mutual funds everywhere. Mentions in newspapers and magazines will jump out at you. These things have always been there, but now you have sensitized your brain to pick them up and draw them to your attention with far greater frequency and vividness. This is the function and power of your reticular cortex.
Think Like Wealthy People Think
Wealthy people, from an early age, think about how much they have, how much they want, and all the different things they can do to acquire and earn the money and things they desire.
On the other hand, what do poor people think about most of the time? Unfortunately, they fill their minds with thoughts of scarcity, lack, poverty, being unable to afford things. They are always thinking and talking about how little money they have, how much things cost, and how they wish they could be better off financially. What they think about most of the time is how little money they have.
Find Out How Rich People Think
Here’s a rule for you. If you want to become successful, find out what failures do and don’t do it. If you want to be wealthy, find out what poor people think about, and avoid thinking that way. Instead, find out how wealthy people think. Find out what they read. Find out how they spend their time. Study their lives, read their stories and autobiographies, and listen to their words when they are interviewed and on tape. The more you find out about what financially successful people think and talk about most of the time – and do the same things – the more rapidly you will enjoy the same rewards that they do.
Here are two things you can do to put The Parable of the Talents into action:
First, make a decision that, starting today, you will think and talk only about the financial success you desire. At the same time, you will refuse to talk about or dwell upon your financial problems.
Second, instead of saying “I can’t afford it,” you will ask the question “How can I afford it?” When you think of something that you want or need that you don’t have the money for at the time, the only question to ask is “How?” How can you get it? What can you do to achieve it? What are your options? How can you get from where you are to where you want to be?
It will change your life.
[Ed. Note: Today, make the decision that you’ll end “poverty thinking.” Instead, find out what the wealthy do and copy it. One “Mentor to Billionaires” can give you dozens of simple strategies that his billionaire colleagues used to transform themselves into master moneymakers. Learn more here.
Maybe you want to set goals for yourself – but don’t know where to start. Now, success expert Brian Tracy will show you a proven way to set and accomplish even your toughest goals. Just follow the step-by-step instructions in his easy-to-use Maximum Achievement Goal Planner workbook. Start on the path to achieving lifelong success and abundance today.]
This article appears courtesy of Early To Rise, a free newsletter dedicated to creating wealth and success through inspiration and practical, proven advice. For a complimentary subscription, visit http://www.earlytorise.com.
July 27 (Bloomberg) — Lawrence Haverty, portfolio manager at Gamco Investors Inc., talks about the possibility Apple Inc. will surpass Exxon Mobil Corp. as the world’s most valuable company. Haverty, speaking with Deirdre Bolton on Bloomberg Television’s “InsideTrack,” also discusses Apple’s product pipeline and revenue drivers. (Source: Bloomberg)
By CountingPips.com
Automated trading has become a popular aspect of the online trading world with more and more forex traders testing and utilizing automation in their toolkit. Below, we have put a list together of 10 automated trading resources and services for the forex market that are out there to help you put trading strategies into an automated reality. We caution that this list may be a good starting point to automated trading but just like regular forex trading, do your homework and perform testing before you commit real resources to any automated program.
This trading platform by MetaQuotes Software is extremely popular for online fx traders as it is highly customizable and has been widely adopted by most major forex brokers. The ability to add custom technical indicators, scripts and automated trading in the form of “Expert Advisors” is highly attractive and allows you to implement almost any kind of trading setup imaginable.
Many services on this list involve mirror trading which doesn’t necessarily always mean automated trading but allows a trader to choose another successful (hopefully!) trader’s buy and sell orders and have those executed on their account. The AvaFx Mirror Trader allows you to choose between auto-mirroring, semi-mirroring and manual trading all within the one trading platform. Use the knowledge of experienced traders and select their specific trades from a database of over 1,500 strategies with signals in real time that you can manage and control while showing all information of the strategies and activities of users including detailed statistics. *(Act Trader Algorithmic Trading is also available at AvaFx)
ForexYard offers automated mirror trading through existing trading systems of experienced traders on their Fx-Automate platform. The offered systems have a signal history which has been verified on ForexYard’s trading servers over the last 12 months. You can start autotrading in just three steps with your ForexYard account when you choose your system, set your money management parameters and apply the trades to your account. *(Act Trader Algorithmic Trading is also available at ForexYard)
Thinking Stuff’s Automated Trading Machine was created “to bring automated trading to the masses”. The ATM is free software that allows you to create strategies and backtest them on your computer. The software works with clicks of the mouse and no programming language is required. There is also a paid service available that will help you build your system, test your system and run your system if you should desire.
In their words: “Our revolutionary software runs on your computer, using your trading rules, but none of your emotions. There’s just one requirement – you know how to use a mouse.”
Forex Strategy Builder is a free downloadable and visual software for creating and back-testing trading strategies. Trading strategies are based on different technical indicators and are executed through the MetaTrader Platform. It includes an automatic strategy generator and other analytical tools for fine-tuning your trading algorithm.
In their words: “Forex Strategy Builder incorporates the best practices for developping technical strategies and the most reliable methods for backtesting. Its purpose is to facilitate you in gaining profit on the forex market.”
ZuluTrade is another mirror trading service that was founded in 2006. ZuluTrade allows you to mirror trades from hundreds of different trading systems and signals with an account through their supported brokers. Once you chosen your preferred strategy you can have trades executed automatically in your account.
In their words: “Autotrade the FOREX market like never before! Let ZuluTrade drive trades by specialists into your FX account.”
RentaSignal calls itself the “Forex Signals Marketplace” and is another mirror trading website that allows you to choose and search from numerous signal providers by many different parameters.
In their words: “Autotrade the Forex market by automatically mirroring worldwide FX traders’ trades.”
Collective2 lets you choose any system from a library of over 45,000 trading systems and have trades placed automatically in your brokerage account. Read other trader’s reviews on the trading systems as well as system analytics, system guru recommendations, forums, real-time broker results and a quant grid. Many major brokers supported as well as MetaTrader, NinjaTrader and TradeStation compatibility.
Founded in 2005, the Tradency Mirror Trader offers traders a comprehensive trading workspace, with variety of popular trading tools as well as unique features and personalized options. Features include live signals, sentiments, market charts, oscillators and chart studies as well as the unique Tradency T-Score that indicates the strategies’ stability and momentum. Tradency allows manual trading, semiautomatic mirroring, and automatic mirroring in one platform.
Founded in 2006, Strategy Exchange provides investors with the ability to automate trade signals in both the forex and futures realms. Your SE account gives you full control over fully automated execution, a broad range of statistics and detailed data analysis on signals from over 500 forex and futures systems. Supported brokerages do include some major forex brokers and a good number of futures brokers.
Risk Disclaimer: There is a high level of risk in Autotrading and Forex Trading and can result in loss of part or all of your investment. Due to the level of risk and market volatility, Foreign Currency trading may not be suitable for all investors and you should NOT invest or trade with money you cannot afford to lose. All opinions and research materials on this website are provided as general market commentary, and does not constitute investment advice.
I can describe America’s impending decline as a world power in one word — Alvin.
No, not the squeaky chipmunk.
This is no laughing matter. America’s mounting deficits and lack of political leadership have allowed a once-great nation to fall steadily behind China — the country that holds more than $1 trillion of our debt.
And nowhere is this shifting balance of power more apparent than in the global geopolitical showdown over rare earth metals.
You may recall that China controls roughly 97% of all rare earths produced in the world. These metals remain critical for the high-powered magnets essential to U.S. military superiority. Think missile guidance systems.
Rare earths also serve as the backbone for a wide range of civilian technology. We’re talking fiber optics, wind turbines and smartphones. The world is on the verge of what I see as a rare-earth buying panic.
No wonder that at American Wealth Underground, our rare-earth holdings are doing so well. We recently took combined gains of 250% on several positions.
That kind of action is why we recently entered a stake in Europe’s largest rare-earth deposit. We also have a position in the leading publicly traded rare-earth processor. Half its sales come from China.
Meantime, my analysis of the rare earths markets shows that within the next three years China will need all the rare earths it produces.
China has until now used its rare-earth monopoly to good effect. The government has pressured U.S. and other firms to locate factories in China to gain rare-earth access.
More than jobs are at stake as American firms head overseas.
The Chinese have a well-documented history of stealing intellectual property from anybody they can.
Now comes the Alvin. It illustrates how America is losing its technological superiority to China with grave consequences for our future.
Don’t worry if you don’t immediately recall the Alvin.
It’s a craft U.S. scientists used to make a critical undersea discovery in 1979. At that time, the Alvin ruled the deep seas — a submersible that could dive deeper than any other craft.
Our team found vents spewing superheated fluids from the ocean floor off the coast of Mexico. These were no ordinary updrafts. They contained a mixture of important metals: gold, silver, lead, copper and zinc.
Since that time, our nation’s ability to explore the deep oceans for metals has steadily declined. You’ll never guess who is the new deep-sea diving champion…
China, with Japan right on its tail.
Just last week, the Chinese were set to launch a craft known as the Jialong. It can dive to a depth of 16,400 feet — more than three miles.
That puts huge swaths of valuable minerals within the craft’s range.
Here’s where the interplay between China and Japan gets tricky. The Pentagon buys critical components containing rare earths from Japan. In turn that country gets its rare earths directly from China.
Just a few weeks ago, the Japanese made a critical rare-earth find. They discovered a massive deposit at depths of two to 3 3/4 miles below the ocean’s surface.
This was reported in the British journal Nature Geoscience. The publication didn’t delve into global politics.
So allow me.
The Japanese found the deep-sea rare earths near Hawaii, which helps explain why China wants to curtail the U.S. Navy’s Pacific operations.
China has strong international backing for the Jialong’s mission. It can explore the space between Hawaii and the U.S. mainland. All thanks to the International Seabed Authority, a unit of our “friends” at the United Nations.
These developments underscore key themes in what we call the Era of Gold 3.0, the term used to describe how planet Earth has passed the natural resources tipping point.
All the easy, affordable natural resources have been discovered. From here on out it’s tough slogging in remote and expensive regions of the world.
Global population growth and surging technology demand will continue to put pressure on natural resources across the board. Rare earths remain at the top of the list.
Ironically, Alaska’s Arctic region holds vast deposits of oil, gas, precious metals and rare earths. Other nations are investing in the Arctic.
But U.S. leaders are sitting on their hands… as usual.
From here it gets even worse. China will in all likelihood win the rare-earth ocean race. The implications are more profound than I have enumerated so far.
Here’s why.
We have abandoned our Moon program and space exploration. But China’s deep-sea program has enormous space implications.
You see, underwater mining will rely heavily on robotics. So will mining in outer space.
Don’t laugh.
Apollo astronauts brought back lunar soil samples that proved the Moon is chock-full of rare earths.
Scientists also believe thousands of asteroids cheaper to land on than the Moon may also contain rare-earth deposits. Here in the U.S. we lack the political will to connect the dots between the ocean floor and outer space.
But you can bet the Chinese are eager to do it.
Robotic craft operating on the ocean floor face formidable challenges. The same type of hurdles they would face on what are called Near Earth Asteroids.
And to think, the U.S. once held a clear lead in the Space Race.
Now, the Apollo moon program has much in common with the Alvin. They are symbols of China’s rising power and the death of American superiority.
Written by Michael Robinson for Taipan Publishing Group. Additional valuable content can be syndicated via our News RSS feed. Republish without charge. Required: Author attribution, links back to original content or www.taipanpublishinggroup.com.
Note from Managing Editor Sara Nunnally: This debt debacle is starting to get annoying. Scratch that… The government’s bickering over our debt ceiling is starting to get annoying. A friend joked that we would be better off replacing our senators and representatives with their kids and grandkids.
At least they’re learning about conflict resolution in school.
But while you can’t just replace elected officials, there might be a way to change your dollars into something a bit more valuable.
This week’s Smart Investment Strategies article comes from Michael Sankowski, editor of Currency Profits Trader. Michael has been telling his readers that some of the most valuable currencies in today’s market are commodities.
Here’s what he had to share.
You don’t have to look far to find terrifying headlines:
The U.S. government — the most powerful institution in world history — will default on its debt next week unless the debt ceiling is raised.
The eurozone faces a string of potential defaults by its member nations.
Gold prices hit another record high on Monday.
Oil prices seem to have settled in around $95 a barrel.
Talk about currencies and commodities is everywhere you look.
Why are currencies and commodities dominating the news and our financial system? What’s the link between the currency markets and the commodity markets?
Governments are losing control of their money, so commodities like silver, gold and oil are becoming a new form of money. People are waking up to the fact that the commodities of today behave more like currencies than old-school commodities.
To be worth more than the paper it’s printed on, a currency needs to possess a unique quality. The holder needs to be able to do something with this currency that nothing else can do.
For traditional currencies, the ability is easy to uncover. They can pay taxes with that currency — and governments won’t accept anything else.
The U.S. government doesn’t accept gold, houses or boats to pay your taxes. You need U.S. dollars — that’s all the IRS accepts. The unique quality of a U.S. dollar is that you can pay U.S. taxes with it.
If you try to pay your taxes in gold, the U.S. government will sell the gold, and then credit your tax account with the amount of U.S. dollars it received for the gold.
But since governments are not responsible enough to care for their money, people are looking to other sources to become money. So commodities are becoming the currencies of the 21st century.
Commodities like gold and silver have long been considered money — and for good reason.
Gold’s a no-brainer — its scarcity and portability makes it valuable and unique.
But look at oil. We’ve built a huge society around using oil and gasoline. Our economy cannot run unless it has large amounts of oil and gasoline. There are no substitutes for oil and gasoline.
There is the similarity between currencies and commodities — they fill a highly specific demand that cannot be met by anything else.
Our country — and the world — needs massive amounts of gasoline, and nothing else can meet this need. U.S. dollars might be able to buy gasoline, but you cannot put U.S. dollars in your tank.
As the dollar falls out of favor, commodities are becoming the real currency… and nothing will stop this process.
The opportunity for us? Much of the world is fighting this change every step of the way. Most people just don’t want to accept this major change.
This does not mean the price of commodities will go straight up, or that the value of currencies will go straight down. Markets prices never move in straight lines.
This is directly related to the potential for a U.S. government default. Politicians are risking a double-dip recession to score political points over how to control the currency of the United States.
(Don’t forget to sign up for Smart Investing Daily and let regular editors Sara Nunnally and Jared Levy simplify the market for you with our easy-to-understand articles.)
The U.S. debt ceiling crisis is causing serious problems. The value of the U.S. dollar is getting hammered because politicians threaten to default on the U.S. debt.
The currency and commodity markets are going nuts over the U.S. potential default. My favorite currency, the Swiss franc, is up over 4% in just a few days.
Fortunately, at Currency Profits Trader, we’re long the Swiss franc.
I’ve talked to my readers about the safe haven status of the Swiss franc since March. During bad times, the Swiss franc is the safest currency in the world. We’ve made money two times going long the Swiss franc.
We just got long the Swiss franc again this week. This crisis is pushing the smart money into the franc.
But is not just the traditional currencies — the new currencies of oil, gasoline and gold have all rallied higher against the U.S. dollar.
Gasoline prices are back to near $4 per gallon. That’s right; you’re paying more at the pump because they won’t hike the debt ceiling.
To be able to ride out the transition to the new currencies, you have to be aware it’s even happening. You’ll see the new currencies gaining ground on old-school money as governments lose control of their finances.
For now, stay long the Swiss franc. As other opportunities arise, I’ll let you know over at Currency Profits Trader.
Publisher’s Note: When it comes to taking advantage of the ripples spreading throughout the currency markets, Michael is one of the best. His track record proves it. And now, he says, the play of the century is developing right in front of us.
To read a much more in-depth take on how he says our government is hiding secrets and manipulating our money, follow the link.
Article brought to you by Taipan Publishing Group. Additional valuable content can be syndicated via our News RSS feed. Republish without charge. Required: Author attribution, links back to original content or www.taipanpublishinggroup.com.
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July 27 (Bloomberg) — Frederic Neumann, co-head of Asian economic research at HSBC Holdings Plc, talks about the global economy, central banks’ monetary policies, and currencies. Neumann speaks in Hong Kong with Rishaad Salamat, Susan Li, and Phillip Yin on Bloomberg Television’s “Asia Edge.” (Source: Bloomberg)
July 27 (Bloomberg) — Philip Tulk, head of Asian conglomerates and gaming research at Royal Bank of Scotland Group Plc, talks about Asia’s casino stocks. Las Vegas Sands Corp., the U.S. casino company expanding in Asia, reported second-quarter profit that beat analysts’ estimates, on Singapore and Macau growth and a recovery in Las Vegas. Tulk speaks in Hong Kong with Susan Li on Bloomberg Television’s “First Up.” (Source: Bloomberg)
July 26 (Bloomberg) – Business writer Charles Morris talks about billionaire investor George Soros’s investment strategy. Soros is returning money to outside investors in his $25.5 billion firm, ending a career as hedge-fund manager that spanned more than four decades. Morris speaks with Pimm Fox on Bloomberg Television’s “Taking Stock.” (Source: Bloomberg)
The value of the Russian ruble (RUS) was seen climbing in relation to a dollar/euro basket this week. An appreciation of 0.3% on the day has helped the RUS touch an index high not seen since December 2008. Debt concerns across Europe and the United States has helped spurn the value of emerging market currencies, which is lifting the ruble against its counterparts despite internal economic tensions.
Soaring oil prices have also fed the rise of the RUS in recent trading. A hold above $99 a barrel this week was fueling resurgence in ruble values against a basket of primary currencies. Other commodity linked currencies, like the South African rand (ZAR) and Australian dollar (AUD), were also seen in ascent through most of this week.
A report out of the Carnegie Endowment for International Peace (http://www.carnegieendowment.org/2011/07/21/russia-stable-but-critical/419w) has labeled Russia as stable, but critical, noting the investment worries expressed in a variety of reports recently that highlight a lack of investment and reliance on imports and inventory for growth. It also notes that Russian GDP growth has been halved since the financial crisis of 2007/08 and that even domestic investors are reluctant to hold the RUS for very long as part of their portfolio.
Read more forex trading news on our forex blog.
