- U.S. Markets: Yesterday was a predictably docile day for U.S. equities, but stocks still found their way to some decent gains during the short-trading session. All three major U.S. indexes ahead of the Independence Day holiday as traders continued to speculate about more monetary easing.
- Trading volume was the lowest of the year at 3.78 billion shares on the NYSE, Nasdaq and AMEX, according to Reuters data. In economic news, the Commerce Department said factory orders rose 0.7% in May, easily topping the 0.2% increase economists expected. The April reading was revised lower to show a 0.7% decrease.
- In Asian trading, the euro is lower against the dollar as traders are speculating the European Central Bank will lower rates following its meeting Thursday. The pound is slightly stronger against the greenback, though traders are also of the mind the Bank of England, which also meets Thursday, will lower rates to spur the sluggish U.K. economy.
- Gold is slightly higher in electronic trading as well. The yellow metal jumped 1.5% during the U.S. session on easing hopes, but there is more for gold bugs to like, at least as far as one analysts is concerned. In an interview with Bloomberg Television, Ben Davies of Hinde Capital, said if could had a backing of 40% to the monetary base, it would be trading close to $4,500. Davies told Bloomberg gold could go to $6,000 an ounce.
- Barclays Battered, Stimulus Hopes: Shares of British banking giant Barclays (NYSE: BCS) fell 2.1% on volume that was more than double the daily average in U.S. trading on news of the resignation of CEO Bob Diamond amid the LIBOR manipulation scandal. Those glum headlines should keep Barclays as well as rivals such as BNP Paribas and HSBC (NYSE: HBC) in play over the next several days.
Key Highlights for the Trading Day
- 9:30 am GMT – Services PMI
Why traders care: It’s a leading indicator of economic health – businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company’s view of the economy.
Actual > Forecast = Good for GBP.
- 10:00 am GMT – Retail Sales m/m
Why traders care: It’s the primary gauge of consumer spending, which accounts for the majority of overall economic activity. Actual > Forecast = Good for EUR
- All Day – U.S. markets are closed today in observance of the Fourth of July holiday.
Forex day trading is an occupation that never rests. A Forex day trader must constantly find the best tools, best broker, best execution time, best spread, best commissions, and on and on. Because tools, commissions, brokers, are always competing and improving, a Forex day trader finds himself occupied with testing software and opening accounts. All this is very time consuming and our time is better used for trading.
One of the best investments that a Forex trader can make is to use generic tools. These are tools that are not bound to one broker, so they can connect to many possible brokers. One such trading tool is MetaTrader. MetaTrader is one of a small handful of trading platforms that can perform all of the tasks that a Forex trader faces, without being tied to one broker. The big deal about this is that a trader that has spent the good part of a month tweaking and configuring MetaTrader (or any other generic platform), and then decides to change brokers, can still use the same MetaTrader without making any changes to the platform. Any trader who has had to switch brokers and then learn and configure a new trading platform knows how time consuming this can be. Worst of all its distracting. How many trading days did you lose switching to your last platform, until you had everything just the way you like it?
The best example for how cool this aspect of MetaTrader is, lets take a real hot topic these days: Binary Options Binary Options are quickly becoming the latest buzz-word in the Forex community. The main reasons are that within a few minutes you can make 65%-80% profit with a very small trading account (as little as $100 at www.startoptions.com for example). Also your risk is automatically included within the trade, so there is no need to calculate and manage stop orders to manage your risk. That’s why Binary Options are becoming to popular. Currently the only way to trade Binary Options is via web-based trading sites like www.startoptions.com or www.tradesmarter.com
So that’s yet another advantage of MetaTrader: Binary Options. Trading will never be the same again
TradeSmarter Launches its New Binary Options Trading Platform, Bringing with it an Array of Exciting Business Offerings
Online companies can now enter the booming financial gaming world, by taking advantage of TradeSmarter’s new platform and partnership model.
London, UK (PRWEB) August 18, 2009 — Today, TradeSmarter, a leading provider of financial products for the gaming industry launches an innovative Binary Options Trading Platform. The TradeSmarter platform offers a simplified hourly-options trading experience to both the experienced and novice trader, and will enable everyone to speculate on the financial markets.
|We wanted to build a binary options platform that is sophisticated yet simple and fun. In this era of economic uncertainty, why should the hugely beneficial financial markets belong to a limited few?|
After the successful beta launch of its first financial game and recent partnership with an online Australian brand, TradeSmarter is now looking to expand into worldwide partnerships. TradeSmarter will provide a turn-key solution, which includes a fully integrated, branded and customized platform, for any online company, trying to enter the financial gaming industry.
The platform itself recently launched its first financial game, ‘Above/Below’. Based upon the selection of a ‘Call’ or ‘Put’ option on any live binary trade option, the game requires the user to simply decide whether the option will close above or below the strike price after one market hour.
“We wanted to build a binary options platform that is sophisticated yet simple and fun. In this era of economic uncertainty, why should the hugely beneficial financial markets belong to a limited few?” stated a TradeSmarter’s CEO Yoni Avital.
This exciting hourly trade option guarantees returns of between 70-75% and the novice trader is never at total risk, with a 10% loss protection across all trades. A variety of trading assets are available to play with; main currency pairs (EUR/USD, USD/JPY, EUR/GBP), important commodities (Silver, Gold, Platinum, Palladium) and popular stocks (such as Apple, Google, Yahoo, Microsoft, Cisco, Jetblue & Citibank).
Trading is currently operating on a virtual basis, to allow the most inexperienced trader the chance to speculate the financial markets freely but soon users will be able to trade and win real currency, at which time virtual currency will remain live on the platform for every trader to enjoy.
Whether a white-label or licensing partnership; TradeSmarter will handle the technology and on-going development, enabling partners to focus their efforts on acquiring new customers. The TradeSmarter platform is therefore an ideal fit for online companies who are looking to take advantage of a booming financial gaming segment at minimum cost.
TradeSmarter Holdings Ltd is a technology and software provider of binary options to the financial trading and financial gaming industries. The company was set up in 2008 by a group of professionals from the gaming, financial and internet industries who wanted to create a new, fun and accessible approach towards binary options and financial trading as a whole.
The evolution: Game of chance -> Skill Games -> Financial Betting aka financial gaming – >binary options.
Here are a few of my own thoughts on the evolving financial betting market and the use of binary options. Our current economic environment has given birth to countless new financial gaming sites. Following on from this, a new segment of financial markets has been born.
Online Financial Gaming Background:
Online gaming is a fast-growing industry. Online gaming gross yields are expected to reach $20 Billion by 2010. Initial online gaming activity began with Online Casino operators, who used digit generators to provide games of chance to the player, but online gaming has since evolved. Now players can play skill-based games against each other on international financial markets and also benefit through payoffs which are determined by movements in various financial instruments. Increasingly, we are seeing the emergence of financial gaming as a new, distinct segment in this market.
From five minute NASDAQ bets offered by online bookmakers to hourly Forex bets traded around the clock, binary options are the latest craze to hit the gaming industry in a new form called “Financial Gaming”. Just like spread betting, binary betting allows you to take a view on whether a market is going to go up or down. The key difference and advantage is that from the outset you know your maximum loss and maximum gain. Binary options tend to be very short-term investment products, and most typically expire during a given trading period.
With such a simplified product, you can bet on movements in an ever-widening range of assets: Individual shares, equity indices, commodities and exchange rates. This simplified approach provides a new and exciting way to trade across the financial markets.
Why trade binary options?
The financial gaming segment is attractive for the gaming industry because:
• The player’s high level of interest in financial markets due to current economic uncertainty
• It utilizes a unique mix of entertainment, skill and knowledge from the player
• Any financial loss is known and limited, unlike in Forex or other leveraged trading
• Financial gaming is culturally accepted more that typical online gaming products
• There are high levels of profitability for the player.
Financial gaming involves prediction on real markets and real events that are happening in real life and all can be valued at some point (at expiry); as opposed to game of chance that is based on randomly-generated numbers.
• Games of Chance: A game of chance is a game whose outcome is strongly influenced by some randomizing device and upon which contestants frequently wager money. Devices used include dice, playing cards, roulette wheels or numbered balls drawn from a container.
• Skill Games: Skill-based games allow users to compete for money however their outcomes are based on skill rather than chance.
• Financial Gaming also called Financial Betting Odds: refers to the wagering on the price development of a financial instrument at some later date relative to the current price or level of the instrument, against odds offered by a bookmaker.
This analysis brought to you by: Jonathan Leon Avital, Chief Executive Officer of TradeSmarter Holdings, a software developer to the global Internet financial trading / gaming market, has developed proprietary binary trading platform with unique algorithms and architecture which allows partners easy integration for both technology licensing and white label solutions.
Binary Options book by Hamish Raw