Oops you should think twice about buying a new BlackBerry

In fairness, I haven't had a chance yet to play with the new BlackBerrys. But there are serious business and technology issues that should make you think twice before you buy one of the new ones unveiled today. From an operating system destined for irrelevancy to the continued lack of worthy applications, this latest line of smartphones from RIM may be dead on arrival. If you need to change phones, and your company isn't forcing you to use a BlackBerry, you're better off moving over to the iPhone or an Android smartphone.

 commentary If you're thinking about picking up one of those fancy new BlackBerrys, let me explain for a minute or so why that may not be a very good idea.

i read that cnet.com and you would like to do it to “read more” Research in Motion finally answered the pleas of the BlackBerry faithful for a new device with a promotional blitz today, announcing multiple phones for different carriers around the world. In the U.S., AT&T has committed to selling three BlackBerrys, including a next-generation Torch, the touch-screen version of its smash-hit Bold phone, and a touch-screen-only phone called the Torch 9860. Sprint Nextel said it too will be carrying the Bold and a variant of the all-touch-screen phone called the Torch 9850.
Sounds harsh, but I'm not the only one down on the BlackBerry. According to a survey taken by NPD Connected Intelligence, roughly a third of those asked about their next smartphone said it would be either an Android handset or iPhone. A paltry 8 percent said they were looking for a BlackBerry. It's hard to say that cost is the issue. While pricing isn't available, they will likely be priced competitively with the iPhone and other high-end smartphones.
The latest BlackBerrys run on the newest version of its operating system, BlackBerry OS 7. While an improvement over past operating systems, in reality it represents only a minor update over OS 6, found in the original Torch that debuted a year ago. It was originally known as OS 6.1, but was renamed to 7 because the company claimed the update was so big. A more cynical person would suggest RIM was engaging in overly enthusiastic marketing to better sell its devices.
Big update or not, it's not going to be around for very long. RIM said it is moving to its next-generation operating system, called QNX, next year. The software already powers the PlayBook tablet, which despite getting panned by reviewers, worked smoothly as an operating system.
If customers buy a BlackBerry now, they're left with an operating system that will be out of date halfway through their two-year contract. Nokia is dealing with the same dilemma as it manages its transition to Microsoft's Windows Phone operating system. In the meantime, the company is positioning its older Symbian platform as a mass-market smartphone phone.

There are other issues. Despite many attempts, RIM still hasn't answered the increasing demand for applications. The iPhone and Android devices can do more than the basics of phone calls and Internet browsing, and it's something that RIM continues to neglect. BlackBerry offers only a fraction of the number of applications available to iOS and Android users.

Last month, RIM said its App World had hit 1 billion application downloads, a significant milestone for the company but still behind its rivals. Apple earlier in the month said it had passed the 15 billion download mark, while Google said in May that more than 4.5 billion applications were downloaded through Android Market.

To be fair, RIM has hopefully addressed the hardware issues that have long plagued the devices, giving the new line a boost in specifications such as application processing speed and memory. RIM officials promised much of the same with the original underpowered Torch, but they appear to have delivered with the newest wave of SnapDragon-powered phones.

William Stofega, an analyst at IDC, said that the improved design of the Bold Touch will likely keep some of the BlackBerry faithful in the fold.

"It definitely fills a void in the portfolio that they didn't have with the Storm," he said.

And BlackBerry remains a good platform if all you're interested in is access to e-mail and a higher level of security. It will remain a fixture in government agencies and companies with sensitive security requirements.

But if you're looking to do more than simple e-mail and Web browsing, BlackBerry may not be your best bet.

www.Scottrade Ranks as Top Online Brokerage for Customer Loyalty

www.Scottrade is a leading branch-supported online investing firm, has been named a top firm in the 2011 Brand Keys Customer Loyalty Engagement Index for a seventh time. The index asked customers from seven online brokerage firms to determine how they perceive each brand, compare offerings and ultimately make a buying decision.

“For more than 30 years, Scottrade has offered the tools, investment education and support to help investors make better online investing decisions,” said Scottrade Chief Marketing Officer Kim Wells. “Ranking as a top online brokerage firm for customer loyalty for the seventh time points directly to our investors’ appreciation, which includes local stock brokers they know and trust, as well as our consistently low commissions and variety of products that make Scottrade a reliable resource to help them trade and invest with confidence.”

Investors can visit any of Scottrade’s more than 500 branch offices throughout the country to learn more about investing for retirement or online stock trading. They can also attend one of Scottrade’s Branch Seminars or watch a Live Webinar on the online Knowledge Center to learn how Scottrade’s products can help them make better-informed decisions.

In addition to the Brand Keys recognition, Scottrade recently was named one of FORTUNE magazine’s “100 Best Companies to Work For” in America for the fourth consecutive year and has been chosen three times as one of the Best Places to Work in IT by Computerworld.

The 2011 Brand Keys Customer Loyalty Engagement Index asked customers to rate their relationships with hundreds of brands in more than 75 categories, which ranged from the airline industry to banks to online travel companies.

About Scottrade
Investors who enjoy online stock trading will find value and personalized customer service at online investing firm Scottrade. Founded in 1980, Scottrade enables customers to learn about online trading tools, stock market research and how to buy stocks online, many at just $7 per trade. With more than 500 nationwide branch offices, Scottrade has the largest branch network among online brokerage firms. To learn more about one of FORTUNE magazine’s “100 Best Companies to Work For,” visit about.scottrade.com orwww.scottrade.com and follow us on Facebook, Twitter, YouTube and Flickr. Member FINRA/SIPC.

Scottrade Review

Scottrade is one of the more established discount stock brokers in the industry, but I have to give them another praise after what happened since I wrote a review about them. This article outlines why Scottrade brings customer service to the next level, and what the brokerage firm offers.
What are the Commission Rates

Scottrade has always advertised its pricing of $7 per trade, while options are $7 per trade plus $1.25 per contract. Compared with its direct competitors who offer similar services, they are clearly the heapest option. However, on a strict per trade level, there are others out there.
 

Scottrade’s Different Trading Platforms

Like many of the premium brokers, Scottrade offers multiple platforms that all have their unique advantages. Here’s a brief description of each:
Scottrade Trading Website – The web platform is great if you are paranoid about installing anything on your computer. It’s also comparable to most discount broker platforms and offers the majority of investors’ needs.
Scottrade Mobile – A special mobile application that simplifies the clutter to allow for faster trading on a mobile device. I will never know why you need to make trades on the go, but this option is there if you need it.
Scottrate Elite – The full blown trading application that rivals the hardcore trading platforms of other brokerages. Streaming quotes, customizable and savable sessions as well real time news that is

• 
  pushed to you.
  Scottrade Knowledge Center
  
  In order to help investors, Scottrade put together one of the most comprehensive investment resources online. With nearly 2,000 educational articles and interactive tools, investors can learn about everything from the basics of options to what the yield curve of a bond is.

Scottrade Branches and Customer Service

There are actually more than 400 Scottrade branch offices nationwide, so you can get your questions answered either on the phone or in person. The company is one of the top 100 companies to work for (according to Forbes) and it shows in the attitude of the employees. Everyone I spoke with were genuinely helpful and happy.

Why I’m Seriously Considering Scottrade

I’m beginning to become a Scottrade convert. I wrote a review about two weeks ago, and not only did the company tweeted about it, the PR spokesman of the company also personally emailed me to clarify my concern on their physical locations and offered to answer any questions I had.

At the time of the review, I noted that the local branches didn’t provide much more than what a phone conversation would do. As it turns out, each Scottrade representative can walk you through the whole trading platform in person as well as make trades for you (if you choose, or if the website goes down for whatever reason).

I also learned that within the branches, they are hosting live seminars to teach Scottrade customers how to better invest in these times. This is what they have to say about the seminars.

I’ve repeated said that while it’s better to have good customer support than bad, I seldom use it and therefore it’s low on my list of priorities when looking at a new broker option. However, Scottrade seems to take customer service to the next level (the helpfulness and positive attitude of the employees were very apparent once I spoke with them). In fact, I’m so impressed that I’m thinking of moving my funds over to a Scottrade account. While there are cheaper solutions out there, I’m sure that the customer reps would be glad to help me if problems were to arise.

Is Scottrade Right for You

At the end of the day, this is a personal choice that you have to make. Compared with any other broker that has all the higher end services of Scottrade, this broker is the cheapest (and probably the best). However, there are less expensive alternatives out there if you are looking strictly at per trade cost. Is the few dollars a trade worth the piece of mind of knowing you are in the perfect hands? It’s entirely up to you.

If you decide to go with Scottrade though , click here to get started.

Scottrade

Scottrade is a privately owned American discount retail brokerage firm headquartered in St. Louis, Missouri. Its Founder, President and CEO is Rodger O. Riney. Scottrade has 500 branch offices around the U.S. Scottrade has no international branch offices but does offer special services to its Asian-Pacific customers with a Chinese service center staffing Chinese-speaking stockbrokers.

Scottrade renders both online and branch office services including brokerage services, advisment services, investment education, and offers award-winning online trading platforms, including the Scottrade Trading Web Site, ScottradeELITE Advanced Trading Platform, Scottrader Streaming Quotes, Scottrade OptionsFirst and Scottrade Mobile.
The Scottrade Trading Web Site is Scottrade's standard trading platform with stock screeners; quotes and research; real-time quotes and charting; account monitoring and a knowledge center.

Scottrader Streaming Quotes provides real-time market data and news within a trading platform accessible via the Scottrade Trading Web Site.
ScottradeELITE is an advanced trading platform including news columns from both Comtex and Dow Jones, advanced charts, level two and TotalView quotes, and stock screeners.
OptionsFirst, designed by OptionsHouse in 2008, is a platform allowing complex multi-leg options orders, margin accounts with low minimum deposits, and multiple accounts to the same user. All regular common stock and ETF orders are allowed excluding OTCBB and Pink Sheets.
Scottrade Mobile, launched in 2009, is a trading website accessible from any internet-enabled mobile device.

Competitors in the discount brokerage industry include: E*TRADE, TD Ameritrade, Fidelity Investments, Charles Schwab, Firstrade, and TradeKing.

In 2008, the Securities and Exchange Commission charged the company with making fraudulent misrepresentations to clients. The company settled the dispute by paying a $950,000 fine.

Computer Trade In Program

Looking for a computer trade in program to finally upgrade your PC or laptop to get the most from your online surfing or high speed gaming? Computer trade in programs can be your cash for clunkers program for your computer that is older and less responsive. You need to make the most in any purchase you make, especially in tough economic times, this could be a great new means of bargaining for what you want and getting it at a price you set yourself.

A trade in program for computers, iPods, laptops, cameras can be a great green day project to get the proper disposal of older unused electronics. Several big name electronic and PC specific companies are offering computer trade in programs, so you can actually pit one against another to further your bargaining power.

If you are an online gamer or are wanting to get your own high speed computer to avoid paying to rent time at a local gaming computer shop, then this could be a way to trade in an old computer and get the best price possible for the right PC. Shopping for a computer vendor offering a trade in program is a tool that you can game to your advantage.

Trade your laptop now while offers are available. The value you will get in merely upgrading your older model will more than justify the cost.

Gone is the cash for clunkers program, so will the computer trade in program offers as well, so timing is everything. As soon as you find a trade offer, pursue it quickly and get the deal you're looking for.

Several computer trade in programs are really designed to merely upgrade with a specific brand and you want to know this in advance before you spend time pursuing a trade in proposal with a computer vendor.

To learn more about computer trade in program offers in your area or with which brands are available to trade in or upgrade your old computer for a newer model

Markets trade in a tight range

The Sensex continues to trade in a close range of 50 points with the index paring some of its initial gains. The BSE benchmark index is up 25 points ta 18,321  while the Nifty is trading flat at 5,478.

In the broader markets, the smallcap up 0.5%  and the midcap indices gaining 0.2% too have shed some of its early gains but continues to ouperform the Sensex which is trading flat.

On the sectoral charts, Realty continues to lead with a 0.7% gain. Metal and Oil & gas adding 0.4% each are the other gainers. It down nearly 1% continues to languish at the bottom of the chart. COnsumer Durables, Bankex, Health Care and FMCG too are trading in the negative.

Reliance Infrastructure up 8%, HDFC, Sterlite, Hero Honda, Bharti Airtel, Reliance Communications gaining 1% -2% are the top gainers among the Sensex-30 stocks.

SBI, Infosys, Tat Power, ICICI Bank, ITC and Bajaj Auto down 1% each are the major losers on the Sensex.

The market breadth is positive. 1360  stocks have advanced while 1105  have declined.

Tips on How You Can Learn to Trade Forex

Learning to trade Forex can be a good start in making financial freedom a reality. When you learn to trade Forex, a great financial opportunity is open for you even if you are a seasoned investor or a complete beginner. However, beginners should learn to trade Forex properly and acquire trading skills first before deciding to risk huge amounts of cash. Learn to trade foreign currencies with determination and patience and success will become easier.

Forex trading is simply the exchange or trade of currencies in pairs. People who learn to trade the foreign currency exchange participate in the trade by buying and selling certain currency pairs in the same way as people who invest in stocks. This is the reason why stock traders easily get the feel of the trading even though they are compete beginners. To participate in the financial game, one needs to have a trading account, which can be created easily on the Internet in many FX Trading websites.

Learn to trade by using a forex demo account first. A demo account is similar to that of a real account, but it does not involve real money. Therefore, losing in a demo trade does not have any financial impact on the user. Since the set-up is fake, it provides the user with the ability to learn to trade forex easily and applying it without fear of losing cash.

When you learn to trade in foreign currency, using a demo account provides you with the experience of trading online. Learn to trade currency by understanding how the system works. There are training courses that are provided for free along with the forex demo account. When you are learning to trade in foreign currency, it is best to take advantage of free online courses to save money. When you are well-informed with the basics, keep learning with further training by participating in several workshops, webinars, and forums online and offline. If interested, purchase a professional guide and use it to gain better understanding of the strategies used in successful trades.

When you are confident enough, open a real trading account and start trading with real cash. However, do not trade in large amounts yet until you learn to trade successfully. As long as you learn to trade foreign currencies properly along with its strategies and tactics, then you will definitely taste success eventually.

Some people are sometimes fortunate enough to profit from their trades at the start, but keep in mind that no strategy will ensure successful trades all the time. Take note that in some instances, you will loss. When you learn to exchange currency, keep your losses at minimum while you keep your wins at maximum.

Do not rely heavily on Forex trading software though. Keep in mind that the trends in the market are very unpredictable so make it a point to learn to trade forex including how to interpret the rise and fall of a currency. Buy a currency while it is low and sell it while it is high. Not all strategies work for everybody so it is recommended that you learn to trade currency using other strategies as well.

World Trade Organization

The World Trade Organization (WTO) is an organization that intends to supervise and liberalize international trade. The organization officially commenced on January 1, 1995 under the Marrakech Agreement, replacing the General Agreement on Tariffs and Trade (GATT), which commenced in 1948. The organization deals with regulation of trade between participating countries; it provides a framework for negotiating and formalizing trade agreements, and a dispute resolution process aimed at enforcing participants' adherence to WTO agreements which are signed by representatives of member governments and ratified by their parliaments.[4][5] Most of the issues that the WTO focuses on derive from previous trade negotiations, especially from the Uruguay Round (1986–1994).
The organization is currently endeavoring to persist with a trade negotiation called the Doha Development Agenda (or Doha Round), which was launched in 2001 to enhance equitable participation of poorer countries which represent a majority of the world's population. However, the negotiation has been dogged by "disagreement between exporters of agricultural bulk commodities and countries with large numbers of subsistence farmers on the precise terms of a 'special safeguard measure' to protect farmers from surges in imports. At this time, the future of the Doha Round is uncertain."[6]
The WTO has 153 members,[7] representing more than 97% of total world trade[8] and 30 observers, most seeking membership. The WTO is governed by a ministerial conference, meeting every two years; a general council, which implements the conference's policy decisions and is responsible for day-to-day administration; and a director-general, who is appointed by the ministerial conference. The WTO's headquarters is at the Centre William Rappard, Geneva, Switzerland.

It's Die for world trade or Doha

This adds immensely to the pressure to revive, in one last desperate bid, the World Trade Organisation's Doha round.

THE great hope for a new world economic order to emerge from the rubble after the global financial crisis -- the G20 -- is crumbling already.

Peter Sutherland, who was the first director-general of the World Trade Organisation and is now chairman at Goldman Sachs, told The Australian that Canberra, led by Trade Minister Craig Emerson, had a vital role.

"Australia has always played a strong part in world trade, and has never been afraid to voice strong opinions, and now is the time to do it. You can't rely on regionalism as an answer to Aussie prayers," the Irishman said.

"We badly need Australia to speak up, to take the gloves off, and I hear very good things of Trade Minister Emerson."

If the global rules-based system collapses, "the smaller boys -- and that, for this purpose, includes Australia -- will get bounced by the big players".

The top agenda item for last weekend's G20 finance ministers meeting in Paris was to move decisively, in a concerted way, to address the global imbalances that had triggered the crisis and are hampering a full recovery.

Instead, the meeting lamely cobbled together the following paragraph, intended to cover its core priority -- to decide which policies will be outlawed for deepening the imbalances:

"While not targets, these indicative guidelines will be used to assess the following indicators: (i) public debt and fiscal deficits; and private savings rate and private debt (ii) and the external imbalance composed of the trade balance and net investment income flows and transfers, taking due consideration of exchange rate, fiscal, monetary and other policies."

The "indicative guidelines" themselves were left on the table for the next meeting, in Washington in April. The last G20 leaders' meeting, in Seoul, was largely a flop.

But China, the world's second-largest economy and Australia's biggest trading partner, is not about to be browbeaten into conceding anything that may soften the rapid growth that remains crucial to its ruling Communist Party's legitimacy.

Chinese central bank governor Zhou Xiaochuan, underlining this, said in Paris: "External pressure has never been an important factor of consideration, and we have never paid special attention to it."

Such statements do not rule out aligning policies with international requirements -- they just create a distance from the perception of responding to pressure.

Leading economist Peter Drysdale, at the Australian National University, said: "Something has to give. Not all countries can have export-led growth, if that is defined to mean a faster growth rate of exports over imports in all major economies.

"This is what has made the focus on the need for currency re-alignment, and on China as the country that needs to lift its exchange rate, so intense."

Sutherland said the Doha round, which was tantalisingly close to completion, would unleash a fresh wave of international growth. World leaders had to become better informed about the deal, he said.

"Most see it as a quagmire they don't understand. But it's not too complicated. They have to engage," he said. "Failure to reach agreement on the core issues by July at the latest would damage very seriously the whole multilateral trading system, that is already under considerable stress."

Business, he said, had largely switched off the process as it has dragged on for more than 10 years, so "the countervailing lobby to the protectionists is weakening".

At the same time, the alternative, bilateral and regional trade agreements have also failed to produce the gains for which the corporate world had hoped.

"The whole thing has become farcical," he said. "Everyone is fed up to the back teeth with it."

Sutherland has recently written, with leading Indian economist Jagdish Bhagwati, a report on Doha commissioned by the leaders of Germany, Britain, Indonesia and Turkey, on "setting a deadline, defining a final deal".

The report says that the deal, if clinched, "would lock in the liberalisation of the global economy over the last 10 years and lay the framework for another decade of liberalisation".

Sutherland said it was now down to the political leadership of the US, China, India and Brazil.

"I don't see Europe as a major culprit," he said.

In all the previous eight rounds of global trade deals, "nothing was concluded without American leadership", he said.

Is Barack Obama going to seize the day this time? "I simply don't know the answer."

The US President failed even to appoint a WTO representative during the first half of his presidential term -- but has just made an appointment.

The key, Sutherland said, was for the main players "to ask for enough, but not too much". The US had to move away from supporting its agricultural exports, China had to avoid letting its broader arm wrestle with the US "taint" the Doha deal, India had to cut its industry protection, "which is really a tax on developing industry", and Brazil -- the biggest winner from the deal so far -- had to give ground on non-agricultural market access.

"China will be the huge loser if multilateralism doesn't survive", warned Sutherland. That prospect is looming even as the former anti-globalisation forces that drove anti-WTO riots in Seattle are fading.

Nathan Backhouse, director of international trade and investment at Western Australia's Department of State Development, said European trade officials told him on a recent visit that if the financial crisis had been predicted, "everyone would have signed up to Doha".

He said the increase in the membership of the WTO was another factor making agreement harder. Domestically, he said, Australia, including industry, had failed to engender support for Doha because it had not sufficiently quantified, in bottom-line terms, the economic benefits.

Backhouse said industry had also often failed to take advantage of the bilateral and regional trade deals that had been signed since the Doha round languished -- in part because of the complexity of the rules of origin, which Australia policed scrupulously for its own exporters but lacked the resources to scrutinise compliance by imports.

And the big free-trade agreements with Australia's top two trading partners, China and Japan, continue to languish dispiritingly after five years of negotiations.

Most small and medium businesses also lacked the resources, he said, to tap in to the benefits from deals such as the FTA with ASEAN (the Association of Southeast Asian Nations).

The main benefit has been in the "head turning effect" of having the government imprimatur for building business relationships with certain countries.

But Emerson said on a visit to India last month: "Global prosperity and security can only be based on a global trading system and a global market.

"Just as was the case in Australia's great reforms of the 1980s and India's of the 1990s, the case for reform is made clearest in the context of a crisis. Once we stare into an abyss, the difficulties of changing our ways seem manageable.

"It is now the time to brush off this complacency, and to get down to the business of finally concluding this next phase of trade liberalisation. It is time we made history once again."

How Top Traders Think

You cannot be a successful trader if you are not willing to have both profits and losses… “It’s like only wanting to breathe in and not wanting to breathe out.” Both are a significant part of the trading process… The other half of the equation is also important (and equally puzzling). You can’t put too much importance in gains. People who value profits too highly, tend to take them quickly. Why? Because if they don’t take them, they are afraid they will get away.
this quate you have to always remember to b a good trader

It’s true that if you continue to work hard on the market, you’d eventually achieve constant survival that you dream of.
Last week, my GBPJPYUSDCAD Hedging strategy experienced some tolerable drawdown – something that would be recovered soon. In addition, I saw about 7 gap trading setups on Monday and I traded accordingly. On Friday, I closed all open positions with roughly 500-pip profit. Yes my clients’ appetite is being whetted in advanced, since they’re ready to become beneficiaries of this effective trading methodology.
Last week, I was again invited by another former trainee of mine. As a financial expert, he served in the federal civil service for 35 years. After retirement, he dabbled into agriculture without expert knowledge – only to lose a lot of money. Can you now see that trading isn’t the only business that entails serious challenges? However, he was lucky enough to have started Forex training on the right path. He practiced rigorously for almost 3 years before deciding to play the market with real money.
When I saw the account he was managing, I was amazed. He’d made over 2600 pips in 4 months! I saw 500+ pips as open profits and they increased to almost 700 pips before I left. I was extremely glad that he’d stuck to the risk management parameters I recommended to him. He was able to survive December and January as well, plus he suffered occasional drawdowns which were recovered eventually. If you feel that 26% returns in 4 months are a small profit, then it’s high time you did something else.
He and the engineer I visited earlier had something in common. This thing would soon be revealed to my clients. Yes my trainees and clients are the direct beneficiaries of my trading methodologies.
How Top Traders Think

Top traders believe in their trading systems (systems that have positive expectancy) and their own ability to remain calm whatever happens on the market. They know that trading is a game of probabilities.
They know that all trading strategies in the world would have periods of losses each, and therefore survival is all about limiting your risk and giving away as little portion of a trading portfolio as possible. Whenever a strategy experiences a drawdown, they know it’s just part of the game – for the strategy would recover in due course. It’s only a matter of time. They know that they don’t need to expect every trade they take to win: what they need to do is trading according to their entry criteria and managing each trade according to their predefined rules. They don’t ignore a trading signal merely out of fear, nor do they increase their risk because of overconfidence. Their main goal is to be more effective in trading, not struggling to force out higher hit rates.
Dr. Van, quoted above, says further: “Most people… want to be right all the time. They want to make money on every trade. Yet that will not happen because losses are a part of the trading process. When you understand the relationship, however, you can come to terms with losses and make them okay. A natural part of the trading process is to have a point at which you must unload a position or trade at a loss in order to preserve your capital. Those losses will happen to most people about half of the time or more. And you must make them okay or neutral. If a loss is not okay, you will not take it. When you’re not willing to take a loss, it usually gets a little bigger. When it rains, it pours. As a result, it becomes even harder to take—much more painful. If you didn’t take it the first time, as it becomes bigger you will be even less likely to take it. What’s likely to happen? It probably will become even bigger. The cycle typically continues until the loss becomes so big that you have to take it. This typically occurs when you get a margin call from your broker.”

For certain people, it may take many years to develop a normal trading mindset; for others, they speed up their personal evolution as traders and survive their learning curve more quickly than imagined. If you can cultivate the kind of the mindset discussed here, you’ll soon see the seed of trading genius germinating within you. The team here at Fxinstructor.com is doing everything in their capacity to help you become the best trader you can be. You’ll do yourself a great favor by capitalizing on the services they offer.

FOREX-Dlr/yen spikes on intervention talk, euro jumps

* Dollar/yen jumps above 85 yen then retreats

* Traders cite intervention talk but no confirmation

* Euro rises on IFO, resilient to sovereign debt problems

(updates prices)

By Anirban Nag

LONDON, Sept 24 (Reuters) - The dollar spiked above 85.00 yen on Friday on talk of intervention by Japanese authorities keen to stem the yen's recent gains, but quickly retreated as doubts emerged about whether they had taken action.

That left investors nervous about more intervention and, with risk aversion hitting markets, traders said the Bank of Japan's task of weakening the yen was becoming even tougher.

The dollar rose as high as 85.40 yen JPY= from about 84.55 before talk of intervention emerged, climbing more than one yen from 84.34 yen. It later retreated to 84.26 yen, a one-week low and down 0.1 percent for the day.

"The price action certainly suggested that the Japanese intervened, but one can't be sure," said Kenneth Broux, markets strategist at Lloyds TSB Financial Markets.

"With stock markets retreating and a general pullback in risk appetite, the yen and the Swiss franc will be supported, making the BoJ's job harder."

Japanese officials stayed silent on whether they had intervened. Top currency diplomat Rintaro Tamaki declined to comment, Jiji news agency reported, and the Bank of Japan and the government also had no comment. [ID:nTKU106266].

Japan intervened for the first time in six years last week in repeated action that pushed the yen down from a 15-year high of 82.87 per dollar and shunted it above 85.

The dollar stayed above 85.00 yen until the Federal Reserve signalled this week that it might take more quantitative easing steps, putting widespread selling pressure on the greenback and casting doubt over how effective solo intervention can be.

"At these levels, one can expect the Japanese to intervene," said Lee Hardman, currency economist at BTM-UFJ. "Certainly the stronger fundamentals support a stronger yen, but I guess the Japanese authorities will be keen to draw a line in the sand .

Futures Rise Slightly Before Durable Goods Data

There's No Business Like FOX Business
Stock futures pointed to a slightly-positive open on Friday as Wall Street waits for durable goods and new home sales data out this morning.
As of 7:30 a.m. in New York, the Dow Jones Industrial Average futures rose 38 points, or 0.36%, to 10644, the S&P 500 futures rose 4.6 points to 1125.00 and the Nasdaq 100 futures rose 10.75 points to 1992.25.
U.S. investors will get durable goods data at 8:30 a.m. ET followed by new homes sales shortly after the market open at 10 a.m. ET.
Economists are looking for durable goods orders to drop 1.4% for the August report, according to Thomson Reuters, compared with the 0.4% rise reported for July.
New home sales are expected to bounce off the multi-year low of 276,000 annualized units that was reported in the July data and rise to 291,000 units.
Gold remains in rally mode, striking $1,300 a troy ounce earlier this morning before backing off some. Oil was up 0.3% to $75.41 a barrel.
On Thursday, the Dow sank 76.89 points, or 0.72%, to 10662.42, the Standard & Poor's 500 fell 9.45 points, or 0.83%, to 1124.83 and the Nasdaq Composite dropped 7.47 points, or 0.32%, to 2327.08. The FOX 50 dropped 6.40 points, or 0.78%, to 813.71.

Forex Exchange Morning Report

Forex Exchange Morning Report


US equities closed on Friday little changed (S&P500 +0.1%), giving up early gains in the fi rst hour of trading. Solid earnings from Oracle (second largest software producer in the world) contributed to the early boost, a weak US consumer confi dence report and Irish sovereign credit concerns responsible fro the turnaround. The Irish Finance Minister and the IMF both quashed rumours sweeping the market the country may need to seek IMF assistance, while some former Portugese fi nance ministers opined their country was likely to. Government bond yields (10yr) for Ireland rose 26bp to a post-1997 high of 6.29%, and Portugal they rose 13bp, compared to a 5bp fall for Germany. Commodities were modestly higher, oil (-1.2%) a notable exception. US 10yr treasury yields were 2bp at the close



The US dollar index moved inversely with US equities, closing modestly fi rmer. EUR fell from an early session peak of 1.3159 to 1.3020. Safe-haven Swiss franc outperformed, USD/CHF falling from 1.0180 to 1.0070. USD/JPY consolidated between 85.65 and 85.90.



AUD peaked during early Europe at 0.9466 (a fresh high), closing near the low of 0.9354.



NZD similarly peaked at 0.7333 and closed at 0.7251. AUD/NZD drifted off the 1.2955 session peak to 1.2900.



US core CPI fl at in Aug. This is the fourth month of eight so far this year that the core CPI has been fl at or falling – further evidence that very accommodative monetary policy has thus far not aggravated infl ationary pressures. The headline rate rose 0.3% in Aug, mainly due to a 2.3% rise in the energy component; food prices were up just 0.1%. Annual infl ation is 1.1% yr headline and 0.9% yr core.



US UoM consumer sentiment index falls from 68.9 to 66.6 in the preliminary Sep report. The fall to the lowest level for the year so far was driven entirely by the outlook component; the current conditions index edged up marginally.



Euroland current account defi cit €3.8bn in Jul. With the trade balance now in defi cit too, current account defi cits are likely to persist for a while yet. Other data included a fl at producer price index in Germany in Aug, for a 3.2% yr annual pace (down from 3.7% yr in Jul, its fi rst decline since last year).

Buyside uses technology to reconnect with clients

Institutional investors that have embraced the electronic revolution in the financial markets over the past decade are being forced to rely more than ever on technology to find the best returns in the face of a slump in trading volumes.

Despite a surge of activity in May, when equities worth €1.2 trillion were traded in Europe, volumes have fallen for three consecutive months – to €979bn in June, €846bn in July and €763bn last month, according to data provider Thomson Reuters. These figures are well short of the pre-crisis heights of January 2008, when volumes reached €1.5 trillion.



The outlook is grim too. The annual value of trading in UK equities relative to the size of the market is set to hit its lowest level for eight years, according to a report last month by share registrar Equiniti.



This depressed level of trading has brought with it more volatility, making it increasingly important for investors to seek out liquidity from the automated trading venues that have proliferated in Europe.



Rob Goldstein, managing director at asset manager BlackRock, and head of its technology division, BlackRock Solutions, said: “The amount of demand from the buyside for risk and investment platforms is at the greatest I’ve ever known it.



This is largely driven by a much greater awareness among firms that these platforms are incredibly complex to build, expensive to maintain and need to rapidly evolve with market changes.”



By 2006, 96% of buyside firms had adopted front-office trading technology, which includes systems to help execute a deal as opposed to portfolio management or compliance tools, according to a report published by consultancy Tabb Group in May. This figure is expected to reach 100% by the end of this year.



With such a high uptake of automated trading systems, it is not surprising that buyside firms are looking to use this technology more effectively in the face of thinner markets.



Chris Sims, head of investment operations at asset manager Gartmore, said: “We are not currently looking to radically invest in or change our trading technology, but are instead focusing on using the systems that we do have in a more efficient way.”



According to Sébastien Jaouen, head of trading community services in the trading solutions group of technology firm Orange Business Services, this focus on technology is putting pressure on vendors to be more innovative.



He said: “The combination of lower trading volumes and the impact of the financial crisis has resulted in less assets under management at hedge funds and other asset managers. As a result, our customers are looking for solutions that are not off-the-shelf, and that they can easily and quickly integrate with their existing systems.”



These solutions range from systems that allow multi-asset class capability, to algorithmic trading capability, as well as improved information management tools, all in bid to home in on venues offering the most liquidity, the narrowest spreads and the best prices.



Rob McGrath, global head of trading at asset manager Schroders, said: “Whether it is identifying ‘problem’ trades or sectors within a programme, or working out the best venue and way to trade a block, the more information traders have at their disposal the better.”



It is not just market forces that are causing buyside institutions to take stock of their technological capabilities. Firms will also have new legislation to contend with, as the European Commission seeks to overhaul its equity trading rulebook later this year.



The changes are set to include the introduction of a consolidated data feed showing prices across all of Europe’s venues, as well as limits on the amount of activity that can be conducted on dark pools, venues that allow orders to be matched anonymously.



Financial News looks at three areas of trading technology that are capturing the attention of buyside institutions: algorithmic trading, transaction cost analysis, and multi-asset class platforms.



Algorithmic trading



The way in which buyside institutions look to execute their trades is becoming an increasingly pertinent issue, particularly as what little liquidity there is left is fragmented across several venues.



For many, the solution lies in the use of tech-savvy systems that allow orders to be conducted with the click of a mouse.



Miranda Mizen, a principal at Tabb Group, said: “The buyside have turned heavily towards algorithmic trading strategies, and have invested in the time and technology to give them this capability.”



Algorithmic trading is a process whereby computer programmes automatically enter orders on to a venue, within parameters defined by the investor, and these often determine certain aspects of the trade including timing, price and quantity, in a bid to secure the best deal.



It is a method that is particularly favoured by the buyside, as it allows larger orders to be broken down into smaller units to help manage the impact of a trade on the market.



Sims said: “We’ve seen a gradual increase in the use of algorithmic trading strategies and I would imagine that a substantial and growing proportion of our trades are now conducted in this way.”



Goldstein said: “Algorithmic trading is on the up, largely as a result of an increase in the number of automised trading venues and less dealerisation.”



However, not all buyside institutions share the view that algorithmic trading is the only answer, particularly with equity volumes being so thin.



McGrath said that while the use of algorithmic trading techniques was increasing, the rate of adoption was slowing, as firms weighed the costs of different execution methods and lower volumes made certain types of algorithms less effective.



He said: “The rate of change is slowing as the blend between algorithmic trading and traditional broking finds its balance. In this environment the value of blocks increases, both in terms of speed of execution and reduced market impact.”



Block trades allow an institution to quickly and efficiently move into, or out of, a large position, and offer an alternative to breaking up an order into smaller sizes, but anonymity is important when trading in this way.



If a large block is placed on an exchange, negative signals may be sent to the wider market, for example that an asset manager is looking to sell, causing a downward spiral in prices, as traders observe a significant increase in the supply of a stock.



The ability of large institutions to trade large orders, or blocks, has improved with the advent of anonymous electronic trading venues such as Liquidnet and Posit, which aim to directly match corresponding orders away from lit exchanges, preventing adverse price movements.



Jim Conway, head of trading at asset manager Standard Life Investments, agreed that these venues were proving more valuable in the current climate.



Conway said: “Over the past three months we have been using our execution management system less, using capital commitment more and using crossing networks, such as Liquidnet and Posit, whenever possible.”



Transaction cost analysis



The use of technology is also gaining favour among the buyside for its analytical virtues, particularly as investors try to better judge the performance of their brokers.



McGrath said: “With electronic trading the ability to access the market quickly has increased dramatically, but one area where there has been a gap is with the integration of the tools that allow the trader to analyse the trade and therefore make their trading decisions.”



A process known as transaction cost analysis, or TCA, aims to close that void and Conway said it was becoming more important and high-profile across the industry.



TCA is essentially a reconciliation of the difference between two amounts – the first being the value at which a transaction could be executed at the moment a portfolio manager makes a decision to trade, without any additional costs, and the second being the amount realised.



The transaction costs that buyside institutions incur come from several sources. They include commissions from brokers and the fees and taxes paid to exchanges and regulators, as well as expenses that are less easy to define, such as market impact, which is determined by the forces of supply and demand.



The result is that TCA has become integral to the buyside’s trading process, allowing firms to achieve best execution, control trading costs and bring greater efficiencies to their operations.



Sims said: “We’re spending a lot more time on TCA, looking very closely at execution data and having conversations with our brokers in an effort to ensure we’re achieving the best deals.”



This view was shared by Goldstein, who said it was becoming a more effective tool as the quality of data improved. He said: “We are aggressively leveraging our TCA systems across different asset classes.



The quality of these systems is dependent on the quality of data, and with trading becoming more standardised and electronic, we have been able to improve our analysis.”



The popularity of TCA has risen in parallel with an increasing demand for execution data from regulators, according to Sims. He said: “I think it is also going to become increasingly important that we keep hold of transaction data, as this is something that will soon be required of us by regulators.”



Multi-asset class capability



As volumes in equities markets have remained thin, investors are seeking to diversify their portfolios into other asset classes, and technology is developing to meet this demand.



Goldstein said: “If we look at the trends across the last few months, we’re spending much more time developing technology solutions by sharing ideas across asset classes – we believe that the market structure evolution seen in equities over the past decade provides a significant amount of intelligence for how fixed income will evolve over the next few years.”



He said algorithmic trading was moving into new products such as foreign exchange and fixed income.

Other asset classes already account for a substantial portion of electronic volume. According to Tabb Group, 53% of buyside firms now trade financial products other than equities through their trading platforms.



Of this group, 29% said they traded futures and options electronically, and 16% of firms said they traded foreign exchange low-touch. Some 12% of firms said they exchanged their fixed-income trades on electronic platforms.



Jaouen said traders “want to be able to trade a whole range of products and trade globally and the onus is on vendors like us to develop these sort of systems”.



James Davies, head of sales and client services at Trayport, a company providing connections to commodities exchanges and which has buyside firms among its clients, said the demand in other asset classes was in its infancy.



“We’re experiencing increased demand and pressure from hedge funds that want to be able to automate their commodities trading.



“Commodities are not quite as developed as the equities market yet in terms of electronic trading, but it’s going down the same road and we very much see it as a market with a big potential for growth,” he said

Govt To Stay Vigilant On Forex: Noda

TOKYO (Nikkei)--Tokyo will maintain a firm stance against foreign exchange market volatility, Finance Minister Yoshihiko Noda said Wednesday after the government and Bank of Japan intervened in the market to weaken the yen.

"(Japanese authorities) will continue to closely watch forex market trends," Noda said during a press conference at the ministry building. "We will take decisive steps, including market intervention, when necessary."

As for communication with U.S. and other overseas financial authorities, "The Japanese government is in close contact with relevant and necessary parties," Noda said.

But Noda declined to comment on how authorities overseas reacted to Japan's unilateral intervention.

Noda said he himself decided to intervene in the market, as such a measure is exclusively under the Finance Ministry's oversight. He told Prime Minister Naoto Kan about the unilateral move beforehand.

At 10:30 a.m., the ministry urged the Bank of Japan to conduct yen-selling, dollar-buying operations.

"I think the central bank had intervened in the market by 10:35 a.m.," Noda said.

Noda said the size of the intervention would be announced later, "once the intervention is complete."

A strong yen weakens the competitiveness of Japanese exporters' products overseas and erodes the exporters' earnings when they are repatriated.

World markets rise as double-dip fears ease

 LONDON — World stock markets advanced modestly Monday as investors rode momentum from Friday, when an upbeat U.S. jobs report eased fears that the global economy could slip back into recession.

With Wall Street closed for a holiday, however, trading was expected to remain light.

Markets took heart after official data last week showed private employers in the U.S. added 67,000 jobs in August, more than analysts expected.

The figure bolstered optimism that the U.S. will maintain a slow but steady recovery from last year's recession and avoid another economic contraction later this year.

By mid-afternoon in Europe, Britain's FTSE 100 index was up 0.3 percent at 5,446.17, Germany's DAX was 0.3 percent higher at 6,153.31 and France's CAC-40 was up 0.3 percent at 3,684.20. Asian indexes closed higher and trading on Wall Street was to remain shut for Labor Day weekend after closing higher on Friday.

With most major governments reining in economic stimulus measures and many pushing through austerity spending cuts to reduce deficits, investors worry the global economy would be pushed into a double dip recession, particularly as the U.S. slows down quickly.

Because the U.S. economy is the world's largest and consumer spending there accounts for a fifth of global economic activity, the stronger-than-expected jobs data on Friday helped calm investors' frayed nerves after weeks of worrying indicators.

"The renewed flight to safety we have witnessed over the past month is overdone and risks an equally large reversal when the worries over a double dip subside," analysts from Rabobank said in a report.

"As the unexciting, steady and below-trend global recovery continues, it's important not to confuse it with a double dip recession."

Japan's benchmark Nikkei 225 stock index climbed 2.1 percent, or 187.19, to 9,301.32 and South Korea's Kospi rose 0.7 percent to 1,792.42.

Hong Kong's Hang Seng index added 1.8 percent to 21,355.77. Australia's S&P/ASX 200 gained 0.8 percent at 4,575.50. Markets in mainland China, Taiwan, India, Indonesia and Singapore were also higher.

The Dow Jones industrial average jumped 1.2 percent to close at 10,447.93 on Friday. The broader Standard & Poor's 500 Index rose 1.3 percent to 1,104.51.

Shares in the U.S. ended the week in the positive, the first time that has happened in a month. The early gains in September mark a stark turnaround from August trade, when shares fell on doubts about the global economic recovery.

The dollar fell to 84.24 yen from 84.27 yen on Friday. The euro was slightly lower at $1.2880 from $1.2895.

Benchmark oil for October delivery was down 40 cents at $74.20 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 42 cents to settle at $74.60 on Friday.