MetisEtrade is looking for 9 more teams to qualify against Team Gabriel on January 3, 2014!

Remember, whoever wins the next monthly finals will have a SECURED SPOT for the Grands Finals on October 2014! 

Registration here for FREE:http://www.metisetrade.com/index.php/competition

Trading Recommendation Dec. 13

Technical Analysis
USDJPY Breached the Year's High May Aim for 104.35. Next: 107 to 114?

Today we are going to take a look at USDJPY for a break of this year high at 103.73 was seen early this morning.An ascending triangle can be seen from the trendline drawn from the highs of 2009 and 2013 lies at 104.25(long-term resistance) and a break higher may put pressure to move further up to the low of November 1,2007 low of 107.25 initially.While the measured move of the triangle may be seen as long term goal at 114.67.

To read the full trading recommendation, please click this link: http://metisetrade.com/index.php/research

Fundamental Analysis
Japan's 2nd Month Growth Forecasts Cut on Weak Capital Expenditure

Economists cut Japan’s economic growth forecast for the second straight month as a slowdown in capital expenditure and lackluster export demand weighs on the outlook for the current fiscal year. The economists stuck with their view that Japan’s growth will slow further next fiscal year due to a planned increase in the sales tax in April. The biggest downside risks to this scenario are a longer-than-expected downturn in consumer spending after an increase in the sales tax, the poll showed, as well as if overseas economies unexpectedly weaken.

To read the full trading recommendation, please click this link: http://metisetrade.com/index.php/research

MetisEtrade's Freeday Friday !

Start the New Year with a first-class meal at Melo's Home of Certified Angus Steak! 



IT'S ON US! 

How to Win?
Simply like facebook.com/MetisEtrade, share this promo with your friends and register at http://www.metisetrade.com/freedayfriday.

Good vibe comes with good food.

Raffle Date: December 13, 2013 during our Happy Trading Hours

Join MetisEtrade's Freeday Friday NOW!

Freeday Friday Winner December 6, 2013

CONGRATULATIONS!!!

FREEDAY FRIDAY WINNER – MS. MARIE MANUEL
December 6, 2013

**********************************************

MS. MARIE MANUEL shows the prize she has won from the Freeday Friday raffle week 3 - 2 Gift Vouchers from Royal Lake Entertainment Center for a Heavenly 60 Min. Body Massage, Eat-All-You-Can Buffet & KTV

YOU CAN STILL JOIN!
Every Friday, we raffle off exclusive prizes including hotel stays, restaurant vouchers or gift certificates. Join us now for FREE!

This is OPEN TO EVERYONE in Metro Manila. Its so easy!

To be eligible, like and share facebook.com/MetisEtrade, then click this link to register http://www.metisetrade.com/freedayfriday

Follow the instructions and a confirmation ticket will be sent to your email. verify your registration by clicking the link provided or replying "Confirm" to the email to become a member of Freeday Friday.

BONUS: Get MetisEtrade’s 3 e-Books for FREE if you register.

Trading Recommendation Dec. 11

Technical Analysis

USDJPY Possibly Forming a Double Top Which Signals Lower Prices Ahead

Looking at the USDJPY chart, we can see that prices have failed to breach the recent previous high of 103.40 and prices have fallen. This is a possible double top move in progress and could mean bearish tendencies for prices in the near term. Entry price would be at 103.05. Stop loss price would be at 103.55 when the former high is breached. Take profits when prices hover down at 101.95. 

To read the full trading recommendation, please click this link: http://metisetrade.com/index.php/research

Fundamental Analysis

US Budget Deal Compromise Ends Risk of Another Government Shutdown in 2014

Congressional negotiators from both Republicans and Democrats unveiled a long-awaited budget framework to fund the government past mid-January and stabilize the government's finances into the near future. The announcement follows a day full of fine-tuning the details of the agreement, which covers the next two fiscal years and set a top-line budget number for each year. The framework would set spending levels above the $967 billion cap established by the sequester; the budget for 2014 would be set at $1.012 trillion, and the budget for 2015 would be $1.014 trillion.

To read the full trading recommendation, please click this link: http://metisetrade.com/index.php/research

The 4 Stages of Loss in Forex

One of the first things that you should learn in forex trading is accepting defeat. Although it is a normal part of the overall trading process, losing is something that many traders–both newbies and pros–have difficult with.

Think about it. Losing in a game where nothing is at stake is tough enough, what more when there is actual money that you have worked for very hard is involved?

The main reason behind the difficulty in coping with losses lies with the lack of understanding rather than actual psychological problems. People who are experiencing loses misunderstand the negative emotions that are attached with them, which can cause anguish and despair. This eventually makes them quit trading forex altogether. People who cannot deal with the psychology of losing end up exiting the forex trading business quickly.

In this article, I’d like to address that lack of knowledge with losses. In the next several paragraphs, I’m going to talk about the 4 stages of loss in forex, namely, denial, rationalizing, depression, and acceptance.

Do the terms sound familiar? They should, because they’re similar to the 4 stages of grief. Do note, however, that they are applied differently in forex. My desire is that by getting to know the 4 stages, you are better suited to handle the losses that come with trading.

Stage 1: Denial

The first stage of loss enables you to deal with the losing trade. In this phase, you deny to yourself and to others that your trading idea was wrong, and that the loss wasn’t your fault. Reasons like “I was stop hunted” and “I didn’t really care for that trade” are normally used. There’s nothing wrong feeling this way, especially if you’re new. It’s a way to ease the blow to your ego, survive the loss, and move on.

Stage 2: Rationalization

After the denial stage, you move on to rationalizing your trade setup. This is the point in time where you point out everything that’s right about your trade idea and do not even think about what you did wrong. You cite the appropriateness of your trading plan, profit target, stop loss, and entry point but totally disregard that you actually did lose the trade and made a mistake somewhere.

Stage 3: Depression

At this point, you have already looked at all the possible external reasons for your loss. You then turn inward and consider the idea that the loss was completely caused by your own doing.

Although it's reasonable to take responsibility for your loss, blaming yourself too much can be damaging to your forex career if you consistently doubt yourself. You might ask yourself questions like "Is forex trading really for me?" and "Why go on at all?" You could even wind up withdrawing yourself from the business altogether if you can't find enough reasons to keep pushing forward.

Those who have experienced this kind of self-doubt can attest that the longer the losing streak is, the more the intense the feeling of depression. In some cases, you could even see yourself thinking of pursuing other business ventures out there and giving up on forex trading.

Stage 4: Acceptance

In this stage, you begin to realize that it's unhealthy to blame yourself for everything that went wrong. Even though you've accepted that the loss was partly your fault, you are also mindful of the fact that the forex market is a wild untamed beast and that there are plenty of market factors beyond your control.

Let me clarify though that acceptance isn't simply about feeling okay about the loss. In truth, acceptance is more like aligning yourself with reality and realizing that the loss cannot be undone.

When you reach this stage, you accept that you have made some mistakes on your part but that there are also things you are unable to control. Some even say that acceptance is a mix of rationalization and depression, as you combine the two before you are able to move on.

At the end of the day, it's important to remind yourself that you can never truly reverse what has been lost but that you can make up for it. One obvious way to do this is to have a winning trade and recover financially, but you can work on rebounding mentally as well.

You can come up with improvements for your trading strategy, exercise better risk management, or just figure out how to handle your losses better. Instead of simply denying the loss, you have to move on, adapt, and grow.

Happy Trading Hours New Defending Champion !

"If you want something bad enough, you must be willing to take a risk. BUT If you really REALLY want something bad enough, you must be willing to RISK EVERYTHING.. It is true that people will never succeed in life unless they are willing to die for it. Always remember success is very intentional and deliberate and it NEVER happens by CHANCE."  - Gabriel Vergara 

Congratulations to our new Defending Champion!

Everyone put up a good fight and traded to their last trading second. 

On our next monthly finals, Gab's team will defend their trophy against December finalists. So stay tuned here with our #HappyTradingHours!

Trading Recommendation Forex Nov. 29

Fundamental Analysis

Nikkei Surges to 6-year Closing High 

Today we are going to take a look at the Japanese stock market. Yes we do provide research mostly for Foreign Exchange pairs; but in this case the Japanese stock market is always a good indicator of Yen movement. Since Japan is an export-oriented country; Yen weakness gives Japanese companies higher profits thus positive equity prices. 

To read the full trading recommendation, please click this link: http://metisetrade.com/index.php/research

Technical Analysis

AUDCHF Nearing Support;Buy at a Bounce! 

Today we are going to take a look at AUDCHF. As we can see from the chart the price has been ranging for the past 6 months between 0.8745 and 0.8210. However, at the present we are closing in the bottom of that range. 

To read the full trading recommendation, please click this link: http://metisetrade.com/index.php/research

How to Trade Forex with Ichimoku: The Cloud

Howdy! Forex traders. It’s me again! Though I have been quiet lately, I know that I still have a lot of guides to create for you. I have been busy with life lately, and my positions on the market has been for the longer term (daily, weekly and monthly positions) so I decided not to post about my forex trades until I finished this another guide for ichimoku. But enough about me and lets talk more about the ichimoku indicator.

The Ichimoku cloud is the most noticeable piece of indicator in the Ichimoku chart. The idea behind the ichimoku cloud is that it is the resistance that we should be most aware of. It also tells us where the bias of the trend is and where it is heading.

How Clouds Are Formed?

Ichimoku clouds are formed because of the senkou span lines A and B. When A is above B, it is bullish. When B is above A, it is bearish.

How to Interpret the Ichimoku Cloud

Think of the ichimoku cloud as resistance lines. Only that they are lines with big bodies that vary at different points in time. The larger the body, the greater the resistance. The thinner is the cloud, the easier it is for the price action to break it because it represents a weaker resistance.

On our last post about the 3 lines of ichimoku, we said that the kijun lines is the heavy weight when it comes to the resistance. But the last resistance that the price must break is the cloud. If it wishes to reverse. In other words, the ichimoku cloud is the last resistance for a confirmation of a reversal. It it didn’t bounce back to the normal trend after hitting the cloud, then its probably going to reverse.

Things to remember about the ichimoku cloud

• When the price action is above the cloud, it is a bullish bias
• When the price action is below the cloud, it is a bearish bias
• When the price action is INSIDE the cloud, it is consolidating
• A cloud with a flat line is a strong resistance. The flat line is the resistance line.
• A cloud with a huge body is a strong resistance
• A cloud with a thinner body is a weak resistance

The Future Cloud

The ichimoku cloud or kumo has this idea of “future”. Consider this image.

Look at the last price action. The kumo cloud just below the last price action (yellow cloud) represents the latest price action. But looking a further to the right, there is a green cloud that looks somewhat incomplete. That is the future kumo or future cloud. It tries to predict what the next bias will be and will also try to give you a signal if there is a strong resistance is forming.

The future cloud is very important in giving us the first sign of reversal. I also look at the future cloud for the same reason and to be aware of strong resistance cloud forming. When the cloud changes in color, you are the first to know if the trend is weakening and you can decide on this information.

Conclusion

There’s a lot to take in, when you combine all the lines and the cloud altogether. And this is a good thing. Because the beauty of ichimoku indicator is that, because there are a lot of indicators for it, the lines and the kumo, you can craft a trading strategy that fits only for you. Without deviating from the core that makes it successful.

On the next post, I’ll teach you how you can combine all these indicators to create a trading strategy. And I will teach you the core trading strategy of this indicator that makes it successful.

(C) Forex Philippines

CONGRATULATIONS!!! FREEDAY FRIDAY WINNER !

CONGRATULATIONS!!!

FREEDAY FRIDAY WINNER – MR. WILLIAM SEO
November 22, 2013 

************************************************

MR. WILLIAM SEO shows the prize he has won from the Freeday Friday raffle week 1 - A Samsung DVD player with USB and Karaoke

YOU CAN STILL JOIN!
Every Friday, we raffle off exclusive prizes including hotel stays, restaurant vouchers or gift certificates. Join us now for FREE!

This is OPEN TO EVERYONE in Metro Manila. Its so easy!

To be eligible, like and share facebook.com/MetisEtrade, then click this link to registerhttp://www.metisetrade.com/freedayfriday

Follow the instructions and a confirmation ticket will be sent to your email. verify your registration by clicking the link provided or replying "Confirm" to the email to become a member of Freeday Friday.

BONUS: Get MetisEtrade’s 3 e-Books for FREE if you register.

Trading Recommendation for Nov. 26

Fundamental Analysis
Euro$ Dips on Report of Strong Euro to Cut Growth in EZ in 2014

The Euro dropped to as low as 1.3490 from yesterday's high of 1.3556 per US$ after a report of its strength for the past several months may eventually lead to decline of the region's growth into 2014.

To read the full trading recommendation, please click this link: http://metisetrade.com/index.php/research

Technical Analysis

Gold Bounce at Downtrend Channel Support Offers Selling Potential

Gold rebounded from its low of $1227.36 to closed at $1252.82 yesterday may be defined as a healthy correction from its slippage last week of $1291. The movement came from its low maybe considered as a normal pull-back reaction since it is still within the confines of the channel with a range of $35 from its resistance and support.


To read the full trading recommendation, please click this link:http://metisetrade.com/index.php/research

Happy Trading Hours: 1 Hour Sprint Demo Challenge by MetisEtrade

Happy Trading Hours will let you experience the excitement of trading foreign exchange, without the risk of losing money

Happy Trading Hours is a weekly trading demo competition held every Friday 8:30pm where participants get a chance to win exciting prizes as well as learn from top foreign exchange practitioners in the country.

“It was a fun experience” – Marc

LIVE TRADING

Happy Trading Hours starts with a seminar on basic forex and a quick commentary on current events and its possible effect on the different currencies. 

Serious traders are serious.

Participants may ask our in-house traders for advice during the competition itself. WE HAVE SNOWFLAKES. 

Place in the top 3 in the weekly competition and be eligible to compete in our monthly finals. WIN MOARRRR PRIZES!

TRADE ONLINE

Join the event from your home using our next level online platform: http://www.metisetrade.com/index.php/competition

Trading and Beer? Yes Please

Happy Trading Hours is the only event of its kind in the country, a fun event where people get to enjoy and experience the world of Foreign Exchange Trading. The Competition is open to everyone and registration is free.

To register: http://www.metisetrade.com/index.php/competition

For Questions: Text 09175786008 or email support@metisetrade.com

Happy Trading Hours: 1 Hour Sprint Demo Challenge by MetisEtrade

(C) When In Manila

How to Trade Forex with Ichimoku: Introduction

Ichimoku Kinko Hyo or Ichimoku for short, is a trend following indicator that has been created by a Japanese named Goichi Hosoda. He made a book about the indicator in 1968. But since the lack of translation to other languages, very few traders knew of its existence and for a long time, it has been treated as one of those “exotic” indicators that never really given the time to shine. Just until recently that this indicator proved to be very powerful.

Why Use Ichimoku?

Ichimoku has been used extensively to trade forex / currencies, commodities, futures and stocks. In other words, it can trade any market with no problem.

The word Ichimoku Kinko Hyo means “Equilibrium chart at a glance”, where the components of ichimoku works with each other that gives the trader a visual representation of the price action. A simple look at the chart with the ichimoku indicator will allow the trader to have an immediate understanding of sentiment, momentum and strength of trend.

5 Basic Components of Ichimoku

The ichimoku indicator has 5 basic components. A trader must know very well what each of these components do to maximize the power of this indicator. Each component is an indicator of its own and a lot of traders turn off the other components for preference. But if you really want to maximize its potential, I recommend to get to know each component and use all of them.

1. Tenkan Sen which means “Turning Line” takes 9 periods
2. Kijun Sen which means “Standard Line” takes 26 periods
3. Chikou Span which means “Lagging Line” takes 26 periods but time-shifted backwards.
4. Senkou Span A, first leading line, time-shifted forwards (into the future) 26 periods.
5. Senkou Span B, second leading line, for the past 52 periods time-shifted forwards (into the future) 26 periods.

I know what you’re thinking. You’re probably thinking this doesn’t make much sense. And I agree with you. The first time I knew about these periods and time shifting thing, I got confused. But trust me for now and it will all be clear later.

We need to memorize the periods so that when you get into a trading platform, you’ll be able to set your ichimoku indicator to default values.

That’s all for now, for the next lesson, we’ll go through each one of this components. If you have any questions, please feel free to comment below.

(C) ForexPhilippines

Trading Recommendation For Nov. 20, 2013

Technical

GBPUSD Looking to Head Back Down After Technical Correction;Pair is Overbought!

Today we are going to take a look at GBPUSD also known as Cable. In the medium term, the pair is trading sideways having a support around the 1.59 area and aresistance around the 1.62 area. Currently its making an attempt to go back up again however based on our stochastics oscillator momentum seems to be slowing down and we believe it will likely go back down again.

To read the full trading recommendation, please click this link:http://metisetrade.com/index.php/research

Fundamental

Japanese Exports Soar as a Weaker Yen Boosted Sales of Major Exporters.

Japan's exports rose a stronger-than-expected 18.6 percent in October from a year before, notching up the fastest gain in over three years thanks to the weak yen and a pick-up in overseas demand, data on Wednesday showed. The rise compared with an 11.5 percent increase in September and market expectations in a Reuters poll for a 16.5 percent gain.

To read the full trading recommendation, please click this link:http://metisetrade.com/index.php/research

Trading Recommendation Nov 19, 2013

Fundamental

German's Economic Sentiment Better Expectations ; Japan's Amari Seeing More Stimulus

Today we will be hearing from the German ZEW for their economic sentiment numbers. Wildly touted as the source for German business confidence in the economy and thus have an impact on the Euro as Germany is the Eurozone largest economy. Economists expect today's number would be 54.6.

To read the full trading recommendation, please click this link: http://metisetrade.com/index.php/research


Technical

CADJPY Nearing Support;Anticipate to Buy!

Today we are going to take a look at CADJPY pair. This is somewhat similar to the movement of USDJPY however slightly more tame as the Loonie in general is not a very volatile currency. Base on the charts we could see just like the USDJPY pair, CADJPY has broken out of consolidation.

To read the full trading recommendation, please click this link: http://metisetrade.com/index.php/research

Congratulations to The November 15 Winners of Happy Trading Hours !

CONGRATULATIONS!
NOVEMBER 15 Happy Trading Hours Demo Competition Winners:
1. focused - 17%
2. Jaehyun Lee - 10%
3. Warren Agusen 8%

You WIN:
1. vOffice ELITE card,
2. 2 coupons from Tony Roma's and TGI Fridays
3. MetisEtrade Souvenir
4. Chance to dethrothe monthly champion Robert Escano here in our office on Dec 06

Note
*Send us your pictures (for poster purposes)
*Please prepare your team of 4 for the next monthly finals! December 06

CONGRATULATIONS! 'TIL NEXT WEEK!

Happy Trading Hours Every Friday !

ATTENTION:

Happy Trading Hours Demo Competition 
is from 8:45 PM to 9:45 PM 

Change in time is due to the Daylight Savings Time adjustment in the US. 

We will select 3 qualified winners to compete for the monthly finals on December 9, 2013.

See you online!
REGISTER NOW: www.metisetrade.com/index.php/competition

Technical Reports: USDJPY Above the Triangle Pattern: Buy USD vs.JPY!

Support and Resistance LevelUSDJPY first attempt at 99.50  was faced by massive selling  and retreated to as low as 97.59 last November 7, creating a resistance  at said area. From then on the pair rallied and as of this writing is above 99.50 which now may be considered as the support and coincidentally the level above the triangle pattern shown on the daily chart.

 With the pair hovering above the triangle pattern level of 99.00, that signifies  the resumption of the US$ strength is underway. Bias is on the upside as long as the areas of 99.50-99.10 holds for initial goal at 100.65.

Buying position is recommended at 99.35. Stop loss at 98.90 which is below the triangle line. Take profit at 100.61 or near said resistance.Trend IndicatorsTriangle pattern breach indicated a rally on said pair may continue in the coming days.Buying opportunities call for this pattern.OscillatorsRSI (68.22) trendline break-out shows that the resumption of the USDJPY bull run may continue although it is nearing the 70% area in two-three days.

Fundamental Reports: Gold Continue to Drift Lower: Sell on Upticks

The recent decline of gold from its high of $1361 may be defined as the resumption of a downtrend, which started last August 2013. Several factors can be cited for this move such as:

1. Good economic status of US as shown from its additional jobs created for the last two months and FED speculations of tapering its QE program as soon as December.

2. The recovery of the US$ against major counterparts based mainly on good economic standing and shift of interest rate policy.

3. The central banks policy shifts of major industrialized nations to easing its current rates as compared to hiking in FED.

With the above-mentioned, bias is for gold to resume its decline and may re-test the area of $1251 (October 2013 low) and $1208 ( July 2013 low).