Friday, 22 June 2012

PrizeLive Paid PayPal

I have seen PrizeLive, several times already in different PTC ad and in sidebar of some bloggers. Until a friend asked me to sign up and she assisted me on how PrizeLive works.

So here's how it works:
1. Of course, you should have your own account. Click the banner below to sign up:



2. After, clicking the banner you will be redirected to the main page,enter your email address on the upper left corner.



3. Again, you will be redirected to the registration form. Please put on the How did you find us? section "referred by samsoft2012"


4. After hitting the join button, you will receive a confirmation code on your email, check your email and enter the code.


5. Once, verified you can now start earning points, but first, edit your account, and fill up the necessary field. Also fill up the telephone number section to be able to claim your rewards.

6. Download the PrizeBar and you will get 0.25 GC(game credits). Game credits can be used in playing games to earn Points.

7. Go to the forum, and create an introduce yourself thread and gain another 0.25 GC.

8.  Earn points by completing offers, commission from level 1 referrals, owning an offer in the reward section, and by winning in the games we offer. Points can be redeemed in the Rewards section for prizes and gifts. Points can also be converted into Game Credits in order to play Games and to participate in some Contests. 1 point is equal to $1.

9. Log in daily for more offers, more points and GC.

UPDATE: I gained 0.43 points in less than one day.  You can view my profile here. I'll update you how I did it.Click Here to Join.

Wednesday, 20 June 2012

Using Fibonacci Retracement Levels

A popular tool used by many students of technical analysis are Fibonacci retracement levels. These are commonly used to find trade entry points. Unlike pivot points which seek simply to anticipate points of support and resistance, Fibonacci retracement levels calculate where a market is likely to bounce back to (retrace) after a preceding move. After this retracement the market is then expected to resume its original direction.

Fibonacci number Sequence

The Fibonacci sequence is an additive numerical sequence named after Leonardo Fibonacci of Pisa, an Italian mathematician of the late twelfth century. Leonardo analyzed a number of repeatable number formations found within nature to form the Fibonacci number sequence. Fibonacci numbers are formed by adding together the preceding two numbers in a sequence to find the next. For example 1+1=2, 2+1=3, 3+2=5, 5+3=8 etc.
Fibonacci Forex retracement ratios are derived from this numerical sequence. By dividing any number in the sequence by the following number we end up with 61.8. This is referred to as the 'Golden Number.' For example we divide the 3rd number (5) in the above sequence by the 4th number (8) we end up with a ratio of 61.8. This is true of the entire sequence. This is one of the retracement levels that we use in calculating Fibonacci retracement's.
Fibonacci Retracement Levels in Forex
The key to using Fibonacci is in identifying the start and end of major market moves. These two points represent the high and low of the move. In Fibonacci terms, think of these levels as representing 0.0% (the start) and 100.0% (the end) of the move. To confirm the end of a move you can use you use any of your preferred technical indicators or candlestick patterns.
Fibonacci retracement levels occur at defined points of this move: 23.2%, 38.2%, 50.0 % and 61.8% are the most commonly used retracement levels. These levels can easily be calculated by using a Fibonacci calculator. Simply input the high and low of the move into the Fibonacci calculator and click ‘calculate.’
Once the levels are calculated they can then be plotted on your chart and used to find trade entries in one of two ways.
The first way is to trade the retrace or pullback after the initial move. Effectively this is trading a temporary reversal or counter trend move. The second method is to wait for the market to retrace the levels and use this as an entry point to rejoin the original trend.
Below we look at examples of both trading approaches.
Using a Fibonacci Retracement Level To Trade a Pullback
Using Fibonacci to identify and trade pullback scenarios is a common tactic among Fibonacci technical analysis traders.
When trading in this way it is important to locate your stops properly and set realistic targets for taking profit. Th50.0% retracement level is often used as an attainable 'take profit' target and one that works well on the 4 hour chart.
On the EURGBP chart above our initial entry following the high would target the 50.0% Fibonacci retracement level with a stop placed at the limit of the initial move. If the 50.0% retracement target is reached we could then move our stops to break even for a free run at the 61.8% retracement.
In this example, our target at the 50.0% retracement was met although our free run at the 61.8% level was taken out by a market bounce.
A few sessions later we can see that despite efforts to move higher, the pair ends up retracing back to the 61.8% level and subsequently falls to complete a full 100% retracement. It is a common feature of Fibonacci that markets that retrace beyond the 61.8% level, will often tend to retrace the whole of the preceding move.

Using Fibonacci Retracements to re enter a trend


As well as using Fibonacci retracement levels to trade trend consolidations, our next example shows how we can apply a Fibonacci retracement level as a point to re enter prior trends.
We have marked out a move of the 4 hour charts which took the USDCHF from just over 1.06 to 1.0840. The first sign we get of an impending retrace is the long wicked candle on the next four hour bar following the moves high.
In the following hours the market falls back through each of the retracement levels. These limit any additional gains for the duration of the retracement. As we can see from the above example the full 61.8% retracement is just shy of being met.
Failure to break support at the 61.8% level acts provides an entry point to rejoin the prior trend. Here our target would be the previous high recorded by the initial move. This was a particularly profitable move as the market then went on to break the previous high.
Fibonacci technical analysis is like any other technical trading approach in that it provides approximations of market levels rather than absolute targets. Quite why the numbers work is difficult to say. It may well be that the number of traders who watch these levels help to make Fibonacci retracement levels a self fulfilling prophecy. Whatever the reason, Fibonacci retracement levels prove a useful tool addition for every Forex traders toolbox.

Saturday, 13 August 2011

S&P balks at SEC proposal to reveal rating errors


(Reuters) - Standard & Poor's, whose unprecedented downgrade of U.S. debt triggered a worldwide stocks sell-off, is pushing back against a U.S. government proposal that would require credit raters to disclose "significant errors" in how they calculate their ratings.

S&P, which was accused by the Obama administration of making an error in its calculations leading to Friday's downgrade, raised concern about the proposed new corrections policy and other issues in an 84-page letter to the Securities and Exchange Commission, dated August 8.

The SEC is weighing sweeping new rules designed to improve the quality of ratings after their poor performance in the financial crisis.

The 517-page proposal includes a requirement that ratings agencies post on their websites when a "significant error" is identified in their methodology for a credit rating action.

The letter was sent three days after the U.S. Treasury Department accused S&P of miscalculating -- by some $2 trillion -- the U.S. debt in the next 10 years. That calculation was in a draft press release announcing a downgrade in the government's credit rating from AAA to AA-plus.

S&P vehemently denied it had made an error, but acknowledged that it changed its long-term economic assumptions after discussions with the Treasury Department. It switched to another economic scenario that resulted in a debt load $2 trillion smaller by 2021. But it said that did not affect its decision to downgrade the U.S. debt.

S&P's criticism of the "significant error" proposal is part of a broader concern that the SEC's reforms prompted by the Dodd-Frank financial oversight law could give the U.S. government undue influence over its ratings decisions.

S&P in particular is facing a tense relationship with Washington. Its downgrade sparked a backlash from Administration officials and lawmakers from both sides of the aisle. A Senate Banking Committee aide on Monday said the panel has begun looking into S&P's decision to downgrade the U.S. credit rating.

WHAT'S AN ERROR?

The SEC's proposal, issued in May, contains a wide range of provisions, including requiring credit raters to disclose more about their internal controls, to protect against conflicts of interest, and to reveal more about their rating methods.

But one issue that really rubbed Standard & Poor's the wrong way was the proposed requirement that raters disclose when a "significant error" is identified in a procedure or methodology -- and especially, who should define what that is.

The SEC's proposal asks questions about whether the SEC should define the term "significant error."

"If the commission were to define the term significant error ... we believe it would effectively be substituting its judgment" for the credit-rating agencies, S&P President Deven Sharma said in the letter.

He said S&P's own error correction policy "has proven to be effective and, where errors have occurred, our practice of reacting swiftly and transparently has benefited the market."

Barbara Roper, director of investor protection for the Consumer Federation of America, said that policy has proven inadequate.

"What was their correction policy on their Enron rating? What was their correction policy on their Lehman rating? What was their correction policy on their Bear Stearns rating? They don't have an error correction policy -- they have an error denial policy, and the SEC is absolutely right to step in," Roper said.

McGraw Hill's Standard & Poor identifies numerous issues with the SEC's proposal, including concerns about competition and that rules are consistent globally.

Of the big three raters -- S&P, Moody's Corp and Fimalac SA's Fitch Ratings -- S&P was the only one to raise major concerns in its letter to the SEC about the "significant error" provision.

The measure was tucked into Dodd-Frank after the rating firms gave glowing ratings to toxic subprime mortgage-backed securities and then were slow to downgrade them.

A Senate investigations panel issued a report earlier this year faulting S&P and Moody's for triggering the financial crisis with their flawed ratings and subsequent decision to downgrade them en masse.

The big three ratings agencies have spent well over $1 million lobbying Congress and federal agencies since January as they press for changes to the regulations, according to data from OpenSecrets.org.

Roper said S&P's pushback to the "significant error" proposal underscores the need for tougher reforms.

"If anything, their letter suggests it is absolutely essential that the SEC define it because absent a definition, these guys will obfuscate," she said.

(Reporting by Sarah N. Lynch, with additional reporting by Andrea Shalal-Esa; Editing by Karey Wutkowski, Gary Hill)

Tuesday, 31 March 2009

Forex Expert Advisors - EA

Many forex systems are sold online as mechanical automated trading systems, or in Metatrader language called Expert Advisors. Expert advisors are programmed mechanical forex systems designed to work on certain trading platforms, called Metatrader platforms. The Russian designed trading platform is now the most popular trading software among brokers and traders.

An EA could be as simple as a technical indicator (a small software which shows market conditions, up, down, trends, etc..), or could be a sophisticated program based on complicated mathematical and statistical algorithms and several other pre-designed indicators. The expert advisor, as its name indicates, gives advice to the trader as when to buy, sell or close a position and usually it will also tell the trader what size of trade to take. Also, the EA has the functionality and power, if authorized, to automatically place trading orders, or cancel them, buy, sell, and close forex positions!

1. Market Entry
All expert advisors should advise the trader when to enter or leave the market. It can also place orders at market or at another price automatically. The Expert advisor should collect the relevant information from previous historical chart data, and base the decision on that information. The level of information to be collected depends greatly on the parameters which should be entered manually by the trader.

2. Order direction
The EA will also decide, besides market entry, the direction of trade, either buy or sell.

3. Money Management
If required, the EA can also apply money management to your trades. A good expert advisor should know how much to buy or sell, by applying known money management techniques. Some expert advisor would simply change the size of order according to the equity. Some would use a more complicated algorithm. Some do not apply any money management rules.

4. Stop Losses and Take Profit
Expert advisors also have the ability to place, change, or remove stop losses and take profits orders.

5. Trailing stops
There is nothing better than expert advisor to monitor your open positions and use trailing stops. The EA is there 24 hours monitoring your trades and ready to execute anything relevant to what it was programmed to do.