Client's Deposition
Soon after the filing of the law suit the attorney will ask to provide testimony concerning the merits of the case including patient's medical condition and circumstances of exposure.
Trial / Settlement?
The case will either go to trial or a settlement will be agreed to.
Appeals
Should either the client or the defendant not accept the judgment they have the right to appeal. The law firm the patient chooses should include the appeals process as part of the agreement.
Sunday, September 27, 2009
FOREX
Forex simulated trading helps investors practice their forex trading before risking any money. For that reason, taking part in an online forex trading simulation is essential for the long-term success of any trader. The lower the experience level of a trader, the longer that trader should be actively involved in online simulated forex trading.Before using a simulated forex trading system, it is important that the system is a live simulation program that provides lifelike results. The forex trading simulation system should allow the trader to execute practice trades at prevailing market prices using real time, streaming data.Our simulated forex trading program meets all these requirements and more. Before putting real money to day trade currencies, a trader can sign up for a 30-day demo that provides lifelike executions, streaming charts, technical analysis, news, market commentaries and other features. The program could also be used to simulate day trading.The example of the forex trading simulator shows three currency pairs that consist of four of the major foreign currencies: the US Dollar (USD), the Swiss Franc (CHF), the Euro (EUR), and the Japanese Yen (JPY). The real-time, streaming graph shown is a candlestick graph of the Dollar / Yen (USD/JPY) exchange rate in 10-minute periods. The graph is enhanced with a technical analysis study consisting of 10-period and 20-period Simple Moving Averages and a horizontal channel between 120.2906 Yen and 119.9100 Yen.Whether you are an experienced stock day trader or a novice to the trading world, you could benefit from taking our online forex simulated trading program for a test drive. See how good you are at forex trading by using our online currency trading simulation. If you have any questions about simulated forex trading or any other of our services
Saturday, September 26, 2009
asbestos lawyers los angeles
You can activate a FREE 30-day automated forex trading demo account (with play money) and watch as the automated trading platform executes trades on your account 24 hours/day using real forex market prices. Track your results just as you would if you were using real money and progress at your own speed. There's no pressure and no deadlines to meet. If you are not ready for real trading after your 30-day demo expires, simply sign up for another Free 30-day demo account. Demo trading is also an excellent way to get a feel for how our system works, while you learn how to analyze and choose the best trading systems for your portfolio and risk tolerance. It's fun and exciting. And once you're comfortable with the automated trading system, you can open a live account and begin trading with real money.
Mesothelioma Attorneys San Diego
What Do You Need To Know Before Finding A Mesothelioma Attorney in San Diego?
To begin, the attorney must specialize in Mesothelioma cases and that has handled a large number of similar cases. You would also want the attorney to have enough staff to handle the legal process. Thirdly, you want a lawyer that will explain to you step by step the process and exactly what is details, as far as price, time and dedication.
google_protectAndRun
What Is The Full Process?
Fees
The attorney must go through and explain all fees upfront. They should explain if your case should be handled as an individual case or as part of a class action. The attorney must explain if they work on a contingency fee and how much that percentage is. They must also tell you about any other fees entailed.
Steps
Diagnosis
The doctor will ask you, where and when you were exposed to asbestoses. The answer to this question is also critical to the Mesothelioma Attorneys San Diego for investigating the claim. The doctor's diagnosis and treatment plan is also key in determining compensation sufficient to cover the cost of that treatment.
Investigation
The law firm will need to have specialized investigators research the potential sources of the asbestos exposure. The investigators will also research the exposure sites and products, the manufacturers, the distributors and sellers of the asbestoses materials and products responsible for the exposure to asbestos.
The Filing Of The Law Suit
The attorney will then be in a position to file a suit and a claim for damages against the parties responsible for the client's exposure to asbestoses.
Client's Deposition
Soon after the filing of the law suit the attorney will ask to provide testimony concerning the merits of the case including patient's medical condition and circumstances of exposure.
Trial / Settlement?
The case will either go to trial or a settlement will be agreed to.
Appeals
Should either the client or the defendant not accept the judgment they have the right to appeal. The law firm the patient chooses should include the appeals process as part of the agreement.
To begin, the attorney must specialize in Mesothelioma cases and that has handled a large number of similar cases. You would also want the attorney to have enough staff to handle the legal process. Thirdly, you want a lawyer that will explain to you step by step the process and exactly what is details, as far as price, time and dedication.
google_protectAndRun
What Is The Full Process?
Fees
The attorney must go through and explain all fees upfront. They should explain if your case should be handled as an individual case or as part of a class action. The attorney must explain if they work on a contingency fee and how much that percentage is. They must also tell you about any other fees entailed.
Steps
Diagnosis
The doctor will ask you, where and when you were exposed to asbestoses. The answer to this question is also critical to the Mesothelioma Attorneys San Diego for investigating the claim. The doctor's diagnosis and treatment plan is also key in determining compensation sufficient to cover the cost of that treatment.
Investigation
The law firm will need to have specialized investigators research the potential sources of the asbestos exposure. The investigators will also research the exposure sites and products, the manufacturers, the distributors and sellers of the asbestoses materials and products responsible for the exposure to asbestos.
The Filing Of The Law Suit
The attorney will then be in a position to file a suit and a claim for damages against the parties responsible for the client's exposure to asbestoses.
Client's Deposition
Soon after the filing of the law suit the attorney will ask to provide testimony concerning the merits of the case including patient's medical condition and circumstances of exposure.
Trial / Settlement?
The case will either go to trial or a settlement will be agreed to.
Appeals
Should either the client or the defendant not accept the judgment they have the right to appeal. The law firm the patient chooses should include the appeals process as part of the agreement.
mesothelioma attorney tennessee
While Tennessee has not seen the volume of asbestos-related lawsuits that states like Virginia, Texas, Ohio and Pennsylvania have seen, the state courts have dealt with enough asbestos cases to have developed specific statutes and policies for dealing with asbestos-related diseases. For instance, in 1979, the Tennessee legislature passed a bill that accepted asbestosis from a restrictive statute of repose that would have barred most asbestosis lawsuits from being filed.
Often, asbestos and mesothelioma lawsuits are challenged either in pre-trial motions or on appeal with defendants citing errors of procedure as the reason for appeal. The Tennessee courts have frequently ruled in favor of plaintiffs in matters of procedure. In a 1982 case, for instance, the Sixth Circuit Court of Appeals reversed a lower court's jury verdict for the defendant on the grounds that the trial court judge had erred in several matters of procedure. One of the more important errors was the judge's instruction to the jury telling them by mistake that they could only find for the plaintiff if the defendant's products were the sole cause of the decedent's asbestosis. On the contrary, the appeal court stated, the defendant's actions didn't have to be the sole cause of the defendant's injury under Tennessee law. It was enough that the defendant's actions were a "substantial factor in causing them." (Murphree v. Raybestos-Manhattan, Inc)
Determination of Liability
The Tennessee courts follow a system of modified comparative negligence - 50 percent in determining whether or not damages should be awarded. Under the system followed in the Tennessee courts, a plaintiff can only collect damages if their fault in causing the injury is found to be 49 percent or less. If the plaintiff is found partially at fault, but less than 50 percent at fault, any damages determined will be reduced in proportion to their share of the fault. In other words, if the jury decides that the plaintiff is 30 percent at fault in his or her own injury and the damages in the case amount to $100,000, the plaintiff may collect up to $70,000.
In cases with more than one defendant, the Tennessee courts use a pure several liability system. Under that system, each defendant is only responsible for the share of the award that is proportionate to its share of the fault in causing the injury.
A qualified lawyer will be able to provide guidance and assistance with the litigation process. Asbestos.com provides referrals to top attorneys nationwide. Click here for additional information.
Tennessee Asbestos Litigation
Tennessee's court system has been dealing with an asbestos incident involving the U.S. Postal Service. In one of the state's main facilities, asbestos used in the floor tile placed many employees at risk. OSHA and the Postal Service are still looking for the best and safest solution to this problem, and in the meanwhile, employees are being kept safe through a number of preventative measures, including daily mopping.
There are many different grounds under which a mesothelioma lawsuit may be brought against a company or companies. FELA and the Jones Act, for instance, specifically allow railroad and maritime employees who were injured on the job, including those who were injured by occupational exposures like asbestos, to bring suit against their employers for compensation of damages. These account for many Tennessee asbestos suits, along with disputed Workers' Compensation clams. Examples of asbestos-related lawsuits in Tennessee are detailed below:
2006 - Hensley v. CSX Railroad: Thurston Hensley, age 67, sued CSX under the Federal Employees Liability Act (FELA) for damages he sustained as a direct result of being exposed to asbestos in the CSX railroad yards where he worked for 33 years as an electrician. Hensley received $5 million, upheld on appeal in April 2008.
2008 - Satterfield v. Breeding Insulation and ALCOA: In a case decided in February 2008, the Tennessee Supreme Court in Knoxville reinstated a second-hand asbestos case and returned it to the trial court for decision. Amanda Satterfield filed suit against the defendants alleging that her exposure to asbestos carried home on her father's clothing when she was an infant caused her mesothelioma.
Satterfield's father worked for Breeding Insulation and used products made by ALCOA in his work with asbestos. The suit alleged that ALCOA had knowledge as early as the 1960s of workers' families becoming ill from secondhand exposure to asbestos in their products, but failed to warn Satterfield of that danger. Consequently, from the time his daughter Amanda was born prematurely and throughout her childhood, Satterfield returned home in dusty clothing and exposed his daughter to asbestos which eventually caused her mesothelioma.
Amanda Satterfield filed suit in 2003. She died of mesothelioma in 2005 while the suit was still pending, and her father joined the suit as her representative. ALCOA argued that they had no legal duty of care to Amanda Satterfield, and thus there was no cause of action to bring suit against them. The Tennessee trial court agreed and dismissed the case. The Supreme Court of Tennessee disagreed with the judgment that ALCOA had no duty of care to the families of their employees and reversed the decision, returning it to the trial court.
In its decision, the Supreme Court stated that "ALCOA should have understood that the risk of injury to someone like Ms. Satterfield was a reasonably foreseeable probability." The case cements the concept of secondhand household exposure to asbestos as a reasonably foreseeable probability for which the company can be held liable.
Often, asbestos and mesothelioma lawsuits are challenged either in pre-trial motions or on appeal with defendants citing errors of procedure as the reason for appeal. The Tennessee courts have frequently ruled in favor of plaintiffs in matters of procedure. In a 1982 case, for instance, the Sixth Circuit Court of Appeals reversed a lower court's jury verdict for the defendant on the grounds that the trial court judge had erred in several matters of procedure. One of the more important errors was the judge's instruction to the jury telling them by mistake that they could only find for the plaintiff if the defendant's products were the sole cause of the decedent's asbestosis. On the contrary, the appeal court stated, the defendant's actions didn't have to be the sole cause of the defendant's injury under Tennessee law. It was enough that the defendant's actions were a "substantial factor in causing them." (Murphree v. Raybestos-Manhattan, Inc)
Determination of Liability
The Tennessee courts follow a system of modified comparative negligence - 50 percent in determining whether or not damages should be awarded. Under the system followed in the Tennessee courts, a plaintiff can only collect damages if their fault in causing the injury is found to be 49 percent or less. If the plaintiff is found partially at fault, but less than 50 percent at fault, any damages determined will be reduced in proportion to their share of the fault. In other words, if the jury decides that the plaintiff is 30 percent at fault in his or her own injury and the damages in the case amount to $100,000, the plaintiff may collect up to $70,000.
In cases with more than one defendant, the Tennessee courts use a pure several liability system. Under that system, each defendant is only responsible for the share of the award that is proportionate to its share of the fault in causing the injury.
A qualified lawyer will be able to provide guidance and assistance with the litigation process. Asbestos.com provides referrals to top attorneys nationwide. Click here for additional information.
Tennessee Asbestos Litigation
Tennessee's court system has been dealing with an asbestos incident involving the U.S. Postal Service. In one of the state's main facilities, asbestos used in the floor tile placed many employees at risk. OSHA and the Postal Service are still looking for the best and safest solution to this problem, and in the meanwhile, employees are being kept safe through a number of preventative measures, including daily mopping.
There are many different grounds under which a mesothelioma lawsuit may be brought against a company or companies. FELA and the Jones Act, for instance, specifically allow railroad and maritime employees who were injured on the job, including those who were injured by occupational exposures like asbestos, to bring suit against their employers for compensation of damages. These account for many Tennessee asbestos suits, along with disputed Workers' Compensation clams. Examples of asbestos-related lawsuits in Tennessee are detailed below:
2006 - Hensley v. CSX Railroad: Thurston Hensley, age 67, sued CSX under the Federal Employees Liability Act (FELA) for damages he sustained as a direct result of being exposed to asbestos in the CSX railroad yards where he worked for 33 years as an electrician. Hensley received $5 million, upheld on appeal in April 2008.
2008 - Satterfield v. Breeding Insulation and ALCOA: In a case decided in February 2008, the Tennessee Supreme Court in Knoxville reinstated a second-hand asbestos case and returned it to the trial court for decision. Amanda Satterfield filed suit against the defendants alleging that her exposure to asbestos carried home on her father's clothing when she was an infant caused her mesothelioma.
Satterfield's father worked for Breeding Insulation and used products made by ALCOA in his work with asbestos. The suit alleged that ALCOA had knowledge as early as the 1960s of workers' families becoming ill from secondhand exposure to asbestos in their products, but failed to warn Satterfield of that danger. Consequently, from the time his daughter Amanda was born prematurely and throughout her childhood, Satterfield returned home in dusty clothing and exposed his daughter to asbestos which eventually caused her mesothelioma.
Amanda Satterfield filed suit in 2003. She died of mesothelioma in 2005 while the suit was still pending, and her father joined the suit as her representative. ALCOA argued that they had no legal duty of care to Amanda Satterfield, and thus there was no cause of action to bring suit against them. The Tennessee trial court agreed and dismissed the case. The Supreme Court of Tennessee disagreed with the judgment that ALCOA had no duty of care to the families of their employees and reversed the decision, returning it to the trial court.
In its decision, the Supreme Court stated that "ALCOA should have understood that the risk of injury to someone like Ms. Satterfield was a reasonably foreseeable probability." The case cements the concept of secondhand household exposure to asbestos as a reasonably foreseeable probability for which the company can be held liable.
mesothelioma attorneys washington
Manufacturers of asbestos have known for decades that asbestos causes cancer. These companies’ own internal documents reveal a conspiracy to hide the dangers of asbestos exposure from the public to protect their own profits.The result of this conspiracy is an epidemic of staggering proportions: today asbestos kills thousands more people than skin cancer each year, and nearly the number that are slain in assaults with firearms. The best estimates for asbestos-caused lung cancer deaths over the past two decades range from 5,000 to 10,000 per year (AIA 1980, Nicholson 1982), accounting for between 100,000 and 200,000 fatalities during that time. It is estimated that there will be over 100,000 asbestos related deaths in the next decade.The Seattle, Washington law firm of Paglialunga & Harris, PS strongly believes that workers and their families deserve compensation to help them manage the severe and often fatal health consequences of working with asbestos. Please contact us by phone or online for a free case evaluation.
asbestos attorney illinois
Have you or a loved one been diagnosed with mesothelioma? Contact our Illinois mesothelioma lawyers for a free legal consultation.
Options:
Illinois Mesothelioma Lawyers for Illinois Mesothelioma Victims
Illinois mesothelioma attorneys serving Chicago, Central Illinois, and Southern Illinois.
The mesothelioma lawyers at the Simmons firm represent victims of mesothelioma throughout Illinois. Our Illinois mesothelioma attorneys understand the complexities of mesothelioma and asbestos litigation, and how important it is that you have an experienced attorney on your side.
If you or a loved one have been diagnosed with mesothelioma, contact our mesothelioma lawyers in Illinois today for a free consultation with any mesothelioma questions - medical or legal - you may have. We are one of the nation's leading supporters of the Mesothelioma Applied Research Foundation and have pledged $10 million to support cancer research at the Simmons Firm Cancer Institute at Southern Illinois University.
Illinois Asbestos Exposure
Our Illinois mesothelioma attorneys are experienced working with victims of asbestos exposure. Most people afflicted with mesothelioma are often exposed to the material during the course of their employment. Many of them were exposed while working in Chicago, St. Louis and throughout Illinois. These people, concerned only with making a living to support their families, did the jobs they were asked without questioning their employers and the materials they were asked to handle. At hundreds of job sites across the United States, including Illinois, thousands of workers were exposed to asbestos on a daily basis, putting their health, even their lives, at risk.
Unfortunately, direct exposure is not always necessary to have an increased risk of an asbestos-related disease. Simply working around the dangerous material can be enough to expose someone to a dangerous level of asbestos. Family members of those directly exposed to asbestos are also at risk if they inhale fibers brought home on work clothes. This is called “take-home” or “paraoccupational” exposure and can be just as dangerous as direct exposure.
Illinois Mesothelioma Attorneys with Experience
At the Simmons firm, our Illinois mesothelioma attorneys have been working with clients suffering from diseases associated with asbestos exposure for nearly a decade. In that time, we have represented thousands of individuals from all areas of the United States. Our skill and conviction, along with our dedication to personal client service, have helped us recover over $1 billion in verdicts and settlements for over 10,000 clients.*
If you believe you may have mesothelioma, please contact our Illinois mesothelioma lawyers for a free case evaluation.
Simmons Browder Gianaris Angelides & Barnerd LLC All rights reserved. You may reproduce materials available at this site for your own personal use and for non-commercial distribution. All copies must include the above copyright notice.
ATTORNEY ADVERTISING DISCLAIMER. The contents of this website should not be construed as legal advice on any specific fact or circumstance. Its content was prepared by Simmons Browder Gianaris Angelides & Barnerd LLC (an Illinois law firm organized as a limited liability company with its principal office at 707 Berkshire Blvd., East Alton, IL 62024, Ph 1-866-468-8631) for general information purposes only. Your receipt of such information does not create an attorney-client relationship with Simmons Browder Gianaris Angelides & Barnerd LLC or any of its lawyers. You should not act or rely on any of the information contained here without seeking professional legal advice. Prior results referred to in these materials do not guarantee or suggest a similar result in other matters. Simmons Browder Gianaris Angelides & Barnerd LLC's lawyers are licensed in Illinois and a limited number of other jurisdictions. They and the Firm cannot file actions in all states without associating locally licensed attorneys and/or becoming admitted in that jurisdiction for a limited purpose. Simmons Browder Gianaris Angelides & Barnerd LLC lawyers responsible for the contents of this website are Michael Angelides and Nicholas Angelides.
delaware mesothelioma lawyers
When you approach a mesothelioma lawyer with a case then the lawyer would look into your history and investigate the cause of exposure to asbestos. Once this is done then the lawyer would look into the history of the company to get any previous evidences of lawsuits filed against them. This can be of much help for your case. There are times that the companies that are involved in the asbestos case would try for an out-of-court settlement. However you should not agree to such settlements, as they are less than the amount that you deserve. It is always advised to take the help of a lawyer who can help you out with your mesothelioma lawsuit.
Mesothelioma cases can take anytime from 4 months to one year to get you the compensation. Usually mesothelioma cases are solved fast so that the victim can get the compensation that he or she deserves.
How can the Delaware mesothelioma lawyer help?
The mesothelioma lawyers in Delaware understand the seriousness of the case and work to determine the cause that is responsible for the disease. They would help you get compensation for your medical expenses, future treatments, loss of wages, loss of future earnings, loss of capability of earning, pain and suffering etc.
The mesothelioma lawyer would make you aware of your rights and would fight to protect them. Mesothelioma cases and generally difficult to prove and involve big names. It is hence important that you take the help of a lawyer who is experienced and knows how to deal with such cases. The lawyer whom you choose should have enough sources to fight your case. Finding the right lawyer for your mesothelioma case can make a lot of difference to your case.
Selecting a good Delaware mesothelioma lawyer
google_protectAndRun("ads_core.google_render_ad", google_handleError, google_render_ad);
When selecting a mesothelioma lawyer the first thing that you should make sure is that the lawyer should be qualified in mesothelioma laws in Delaware and should be able to help you understand your case and your rights. The next thing that you should pay importance to is the experience of the lawyer in dealing with mesothelioma cases. You should ask the lawyer how many cases of mesothelioma has he or she handled previously and the maximum amount of compensation that the lawyer has got till date.
You should also make sure about the percentage of practice that the lawyer devotes towards the mesothelioma cases. This would give you an idea about the number of cases that the lawyer handles. You should also ask the lawyer about the fees that he charges and what are charges are included in the fees. Ask the lawyer whether the first consultation is free of cost or not.
Fees charged by the Delaware mesothelioma lawyer
Most of the mesothelioma lawyers in Delaware charge on contingency basis. You are supposed to pay the lawyer only if the lawyer is successful in getting you the compensation.
There are no charges that you are supposed to pay for unless specified by the lawyer in the agreement that you are supposed to sign when you hire the lawyer. It is important that you read this agreement well and understand all the details. In case you do not understand then you should ask the lawyer about it.
Mesothelioma cases can take anytime from 4 months to one year to get you the compensation. Usually mesothelioma cases are solved fast so that the victim can get the compensation that he or she deserves.
How can the Delaware mesothelioma lawyer help?
The mesothelioma lawyers in Delaware understand the seriousness of the case and work to determine the cause that is responsible for the disease. They would help you get compensation for your medical expenses, future treatments, loss of wages, loss of future earnings, loss of capability of earning, pain and suffering etc.
The mesothelioma lawyer would make you aware of your rights and would fight to protect them. Mesothelioma cases and generally difficult to prove and involve big names. It is hence important that you take the help of a lawyer who is experienced and knows how to deal with such cases. The lawyer whom you choose should have enough sources to fight your case. Finding the right lawyer for your mesothelioma case can make a lot of difference to your case.
Selecting a good Delaware mesothelioma lawyer
google_protectAndRun("ads_core.google_render_ad", google_handleError, google_render_ad);
When selecting a mesothelioma lawyer the first thing that you should make sure is that the lawyer should be qualified in mesothelioma laws in Delaware and should be able to help you understand your case and your rights. The next thing that you should pay importance to is the experience of the lawyer in dealing with mesothelioma cases. You should ask the lawyer how many cases of mesothelioma has he or she handled previously and the maximum amount of compensation that the lawyer has got till date.
You should also make sure about the percentage of practice that the lawyer devotes towards the mesothelioma cases. This would give you an idea about the number of cases that the lawyer handles. You should also ask the lawyer about the fees that he charges and what are charges are included in the fees. Ask the lawyer whether the first consultation is free of cost or not.
Fees charged by the Delaware mesothelioma lawyer
Most of the mesothelioma lawyers in Delaware charge on contingency basis. You are supposed to pay the lawyer only if the lawyer is successful in getting you the compensation.
There are no charges that you are supposed to pay for unless specified by the lawyer in the agreement that you are supposed to sign when you hire the lawyer. It is important that you read this agreement well and understand all the details. In case you do not understand then you should ask the lawyer about it.
malignant mesothelioma pleural rate survival
Malignant pleural mesothelioma is the most common type of malignant mesothelioma. Many factors may be involved in determining the survival rate for this aggressive cancer; some are better understood than others. Estimates of median survival time range from one to two years; survival depends on underlying factors such as the type and extent of spread of the mesothelioma. Only seven percent of people with this cancer survive to five years after diagnosis, but this outlook is gradually improving with some promising experimental treatments. Some people live well beyond five years from the time of diagnosis.
In general, younger age at diagnosis, absence of weight loss and limited loss of lung function are associated with chances for increased survival. Stage I mesotheliomas, which have not spread to the lymph nodes or adjacent tissues and organs, also carry the best prognosis. The type of cell the cancer is comprised of can also affect survival. The epithelioid cell type has the best prognosis, the mixed or biphasic cell type the next best prognosis, and the sarcomatoid cell type the worst prognosis. The majority of malignant pleural mesotheliomas are of the epithelioid cell type.
Because this cancer takes so long to manifest, people are usually diagnosed at an older age and with more advanced disease, potentially worsening the prognosis and the treatment options available. The more aggressive the treatment, the better the outcome may be, but in cases with cancer that has spread to other parts of the body, chemotherapy may be the only alternative. New drugs, such as the combination of Alimta with Platinol, have been shown to improve survival in malignant mesothelioma patients whose only option is chemotherapy. A number of experimental treatments, such as immunotherapy and biotherapy, are currently being evaluated in clinical trials.
Malignant Mesothelioma provides detailed information about malignant mesothelioma, diffuse malignant pleural mesothelioma, malignant mesothelioma diagnosis, malignant mesothelioma lawyer and more. Malignant Mesothelioma is the sister site of Peritoneal Mesotheliom Lawyers.
In general, younger age at diagnosis, absence of weight loss and limited loss of lung function are associated with chances for increased survival. Stage I mesotheliomas, which have not spread to the lymph nodes or adjacent tissues and organs, also carry the best prognosis. The type of cell the cancer is comprised of can also affect survival. The epithelioid cell type has the best prognosis, the mixed or biphasic cell type the next best prognosis, and the sarcomatoid cell type the worst prognosis. The majority of malignant pleural mesotheliomas are of the epithelioid cell type.
Because this cancer takes so long to manifest, people are usually diagnosed at an older age and with more advanced disease, potentially worsening the prognosis and the treatment options available. The more aggressive the treatment, the better the outcome may be, but in cases with cancer that has spread to other parts of the body, chemotherapy may be the only alternative. New drugs, such as the combination of Alimta with Platinol, have been shown to improve survival in malignant mesothelioma patients whose only option is chemotherapy. A number of experimental treatments, such as immunotherapy and biotherapy, are currently being evaluated in clinical trials.
Malignant Mesothelioma provides detailed information about malignant mesothelioma, diffuse malignant pleural mesothelioma, malignant mesothelioma diagnosis, malignant mesothelioma lawyer and more. Malignant Mesothelioma is the sister site of Peritoneal Mesotheliom Lawyers.
Mesothelioma Lawyer
In 1966 the first mesothelioma-related asbestos lawsuit was filed in the U.S. This case was lost but a second mesotehlioma suit was filed by a co-worker of the first plaintiff. The second mesothelioma case was won and the plaintiff was awarded $80,000.
During the succeeding years more mesothelioma lawsuits were filed. A massive fraud was uncovered as a conspiracy began to unravel and employees found out about the dangers of asbestos. Basically, upper management was aware of the connection between asbestos and mesothelioma from the work done in other countries but withheld this from their employees.
A deposition was taken in 1978 from a plant manager who divulged the “Hush, Hush” policy, in which the company would not discuss medical results that would suggest a link between mesothelioma and asbestosis. Fraud and conspiracy were revealed through documents that emerged during this period of time. These documents show that direct efforts were made to hide the hazards of asbestos as early as the 1930’s.
Mesothelioma litigation took on a new perspective due to the exposure of the fraud and conspiracy. Victims of mesothelioma could hope to receive higher monetary awards due to the punitive nature of the verdicts.
As most of the asbestos companies have gone bankrupt, large sums of money were set aside by the courts for those who have suffered due to the conspiracy and fraud that surround mesothelioma
During the succeeding years more mesothelioma lawsuits were filed. A massive fraud was uncovered as a conspiracy began to unravel and employees found out about the dangers of asbestos. Basically, upper management was aware of the connection between asbestos and mesothelioma from the work done in other countries but withheld this from their employees.
A deposition was taken in 1978 from a plant manager who divulged the “Hush, Hush” policy, in which the company would not discuss medical results that would suggest a link between mesothelioma and asbestosis. Fraud and conspiracy were revealed through documents that emerged during this period of time. These documents show that direct efforts were made to hide the hazards of asbestos as early as the 1930’s.
Mesothelioma litigation took on a new perspective due to the exposure of the fraud and conspiracy. Victims of mesothelioma could hope to receive higher monetary awards due to the punitive nature of the verdicts.
As most of the asbestos companies have gone bankrupt, large sums of money were set aside by the courts for those who have suffered due to the conspiracy and fraud that surround mesothelioma
Houston Mesothelioma Attorney
The mesothelioma attorneys at Heard-Robins have been representing victims since 1992 and have handled a wide variety of cases involving Asbestos. One of our main goals is to provide effective and aggressive attorney representation to victims who have been diagnosed with mesothelioma. If you have contracted mesothelioma it is most likely causes of long time exposure to Asbestos and you should contact a Houston mesothelioma lawyer to fight for your rights and get you the compensation you deserve from the responsible parties.
Our Houston mesothelioma lawyers have years of experience handling mesothelioma cases all the way through trial if needed. We have many successful mesothelioma verdicts and settlements obtained by our experienced mesothelioma attorney division. Any mesothelioma lawyer at Heard-Robins strives to achieve the best possible results for their clients regarding their cases. If you call or email The Law Offices of Heard-Robins you will be able to speak directly with a Houston mesothelioma attorney, not an office assistant. Our lawyers personally return any calls or emails themselves to better understand your case and help you get the compensation you deserve.
Highlights of our mesothelioma cases have been seen in The New York Times, The National Law Journal, Lawyers Weekly USA, The Houston Chronicles, The Texas Lawyer, The Wall Street Journal, and in a variety of other publications. The Houston mesothelioma attorneys at Heard-Robins have tried over 100 mesothelioma and asbestos cases in a court of law all the way to a jury verdict. With this many verdicts and settlement you can be sure that the mesotheliom lawyers at Heard & Robins will stop at nothing to provide you with the best results possible towards your mesothelioma case.
A mesothelioma lawyer at Heard-Robins is a vital asset in bringing justice to the responsible parties involved in your mesothelioma case. If you have been diagnoses with mesothelioma please do not hesitate to contact a Houston mesothelioma attorney at Heard-Robins today. Our trained mesothelioma lawyers will cover your expenses during the trial process and work to get you the compensation you deserve. Having a skilled mesothelioma attorney by your side is a critical asset in resolving your mesothelioma case. Contact our Houston Law firm today
Our Houston mesothelioma lawyers have years of experience handling mesothelioma cases all the way through trial if needed. We have many successful mesothelioma verdicts and settlements obtained by our experienced mesothelioma attorney division. Any mesothelioma lawyer at Heard-Robins strives to achieve the best possible results for their clients regarding their cases. If you call or email The Law Offices of Heard-Robins you will be able to speak directly with a Houston mesothelioma attorney, not an office assistant. Our lawyers personally return any calls or emails themselves to better understand your case and help you get the compensation you deserve.
Highlights of our mesothelioma cases have been seen in The New York Times, The National Law Journal, Lawyers Weekly USA, The Houston Chronicles, The Texas Lawyer, The Wall Street Journal, and in a variety of other publications. The Houston mesothelioma attorneys at Heard-Robins have tried over 100 mesothelioma and asbestos cases in a court of law all the way to a jury verdict. With this many verdicts and settlement you can be sure that the mesotheliom lawyers at Heard & Robins will stop at nothing to provide you with the best results possible towards your mesothelioma case.
A mesothelioma lawyer at Heard-Robins is a vital asset in bringing justice to the responsible parties involved in your mesothelioma case. If you have been diagnoses with mesothelioma please do not hesitate to contact a Houston mesothelioma attorney at Heard-Robins today. Our trained mesothelioma lawyers will cover your expenses during the trial process and work to get you the compensation you deserve. Having a skilled mesothelioma attorney by your side is a critical asset in resolving your mesothelioma case. Contact our Houston Law firm today
LAWyERS LICENSE
In some jurisdictions, either the judiciary or the Ministry of Justice directly supervises the admission, licensing, and regulation of lawyers.
Other jurisdictions, by statute, tradition, or court order, have granted such powers to a professional association which all lawyers must belong to. In the U.S., such associations are known as mandatory, integrated, or unified bar associations. In the Commonwealth of Nations, similar organizations are known as Inns of Court, bar councils or law societies. In civil law countries, comparable organizations are known as Orders of Advocates, Chambers of Advocates, Colleges of Advocates, Faculties of Advocates, or similar names. Generally, a nonmember caught practicing law may be liable for the crime of unauthorised practice of law
In common law countries with divided legal professions, barristers traditionally belong to the bar council (or an Inn of Court) and solicitors belong to the law society. In the English-speaking world, the largest mandatory professional association of lawyers is the State Bar of California, with 200,000 members.
Some countries admit and regulate lawyers at the national level, so that a lawyer, once licensed, can argue cases in any court in the land. This is common in small countries like New Zealand, Japan, and Belgium. Others, especially those with federal governments, tend to regulate lawyers at the state or provincial level; this is the case in the United States, Canada, Australia, and Switzerland, to name a few. Brazil is the most well-known federal government that regulates lawyers at the national level.
Some countries, like Italy, regulate lawyers at the regional level, and a few, like Belgium, even regulate them at the local level (that is, they are licensed and regulated by the local equivalent of bar associations but can advocate in courts nationwide).In Germany, lawyers are admitted to regional bars and may appear for clients before all courts nationwide with the exception of the Federal Court of Justice of Germany (Bundesgerichtshof or BGH); oddly, securing admission to the BGH's bar limits a lawyer's practice solely to the supreme federal courts and the Federal Constitutional Court of Germany.
Generally, geographic limitations can be troublesome for a lawyer who discovers that his client's cause requires him to litigate in a court beyond the normal geographic scope of his license. Although most courts have special pro hac vice rules for such occasions, the lawyer will still have to deal with a different set of professional responsibility rules, as well as the possibility of other differences in substantive and procedural law.
Some countries grant licenses to non-resident lawyers, who may then appear regularly on behalf of foreign clients. Others require all lawyers to live in the jurisdiction or to even hold national citizenship as a prerequisite for receiving a license to practice. But the trend in industrialized countries since the 1970s has been to abolish citizenship and residency restrictions. For example, the Supreme Court of Canada struck down a citizenship requirement on equality rights grounds in 1989, and similarly, American citizenship and residency requirements were struck down as unconstitutional by the U.S. Supreme Court in 1973 and 1985, respectively.The European Court of Justice made similar decisions in 1974 and 1977 striking down citizenship restrictions in Belgium and France.
Other jurisdictions, by statute, tradition, or court order, have granted such powers to a professional association which all lawyers must belong to. In the U.S., such associations are known as mandatory, integrated, or unified bar associations. In the Commonwealth of Nations, similar organizations are known as Inns of Court, bar councils or law societies. In civil law countries, comparable organizations are known as Orders of Advocates, Chambers of Advocates, Colleges of Advocates, Faculties of Advocates, or similar names. Generally, a nonmember caught practicing law may be liable for the crime of unauthorised practice of law
In common law countries with divided legal professions, barristers traditionally belong to the bar council (or an Inn of Court) and solicitors belong to the law society. In the English-speaking world, the largest mandatory professional association of lawyers is the State Bar of California, with 200,000 members.
Some countries admit and regulate lawyers at the national level, so that a lawyer, once licensed, can argue cases in any court in the land. This is common in small countries like New Zealand, Japan, and Belgium. Others, especially those with federal governments, tend to regulate lawyers at the state or provincial level; this is the case in the United States, Canada, Australia, and Switzerland, to name a few. Brazil is the most well-known federal government that regulates lawyers at the national level.
Some countries, like Italy, regulate lawyers at the regional level, and a few, like Belgium, even regulate them at the local level (that is, they are licensed and regulated by the local equivalent of bar associations but can advocate in courts nationwide).In Germany, lawyers are admitted to regional bars and may appear for clients before all courts nationwide with the exception of the Federal Court of Justice of Germany (Bundesgerichtshof or BGH); oddly, securing admission to the BGH's bar limits a lawyer's practice solely to the supreme federal courts and the Federal Constitutional Court of Germany.
Generally, geographic limitations can be troublesome for a lawyer who discovers that his client's cause requires him to litigate in a court beyond the normal geographic scope of his license. Although most courts have special pro hac vice rules for such occasions, the lawyer will still have to deal with a different set of professional responsibility rules, as well as the possibility of other differences in substantive and procedural law.
Some countries grant licenses to non-resident lawyers, who may then appear regularly on behalf of foreign clients. Others require all lawyers to live in the jurisdiction or to even hold national citizenship as a prerequisite for receiving a license to practice. But the trend in industrialized countries since the 1970s has been to abolish citizenship and residency restrictions. For example, the Supreme Court of Canada struck down a citizenship requirement on equality rights grounds in 1989, and similarly, American citizenship and residency requirements were struck down as unconstitutional by the U.S. Supreme Court in 1973 and 1985, respectively.The European Court of Justice made similar decisions in 1974 and 1977 striking down citizenship restrictions in Belgium and France.
LAWYERS
A lawyer, according to Black's Law Dictionary, is "a person learned in the law; as an attorney, counsel or solicitor; a person licensed to practice law."Law is the system of rules of conduct established by the sovereign government of a society to correct wrongs, maintain stability, and deliver justice. Working as a lawyer involves the practical application of abstract legal theories and knowledge to solve specific individualized problems, or to advance the interests of those who retain (i.e., hire) lawyers to perform legal services.
The role of the lawyer varies significantly across legal jurisdictions, and so it can be treated here in only the most general terms
TERMINOLOGIES
In practice, legal jurisdictions exercise their right to determine who is recognized as being a lawyer; as a result, the meaning of the term "lawyer" may vary from place to place.
In New Zealand and Australia the word "lawyer" is used to refer to both barristers and solicitors (whether in private practice or practising as corporate in-house counsel).
In Canada, the word "lawyer" only refers to individuals who have been called to the bar or have qualified as civil law notaries in the province of Quebec. Common law lawyers in Canada may also be known as "barristers and solicitors", but should not be referred to as "attorneys", since that term has a different meaning in Canadian usage. However, in Quebec, civil law advocates (or avocats in French) often call themselves "attorney" and sometimes "barrister and solicitor".
In England, "lawyer" is used loosely to refer to a broad variety of law-trained persons. It includes practitioners such as barristers, solicitors, legal executives and licensed conveyancers; and people who are involved with the law but do not practise it on behalf of individual clients, such as judges, court clerks, and drafters of legislation.
In India, the term "lawyer" is often colloquially used, but the official term is "advocate" as prescribed under the Advocates Act, 1961.
In Scotland, the word "lawyer" refers to a more specific group of legally trained people. It specifically includes advocates and solicitors. In a generic sense, it may also include judges and law-trained support staff.
In the United States, the term generally refers to attorneys who may practice law; it is never used to refer to patent agents or paralegals.
Other nations tend to have comparable terms for the analogous concept
RESPONSIBILITIES
In most countries, particularly civil law countries, there has been a tradition of giving many legal tasks to a variety of civil law notaries, clerks, and scriveners. These countries do not have "lawyers" in the American sense, insofar as that term refers to a single type of general-purpose legal services provider; rather, their legal professions consist of a large number of different kinds of law-trained persons, known as jurists, of which only some are advocates who are licensed to practice in the courts. It is difficult to formulate accurate generalizations that cover all the countries with multiple legal professions, because each country has traditionally had its own peculiar method of dividing up legal work among all its different types of legal professionals.
Notably, England, the mother of the common law jurisdictions, emerged from the Dark Ages with similar complexity in its legal professions, but then evolved by the 19th century to a single dichotomy between barristers and solicitors. An equivalent dichotomy developed between advocates and procurators in some civil law countries, though these two types did not always monopolize the practice of law as much as barristers and solicitors, in that they always coexisted with civil law notaries.
Several countries that originally had two or more legal professions have since fused or united their professions into a single type of lawyer. Most countries in this category are common law countries, though France, a civil law country, merged together its jurists in 1990 and 1991 in response to Anglo-American competition. In countries with fused professions, a lawyer is usually permitted to carry out all or nearly all the responsibilities
LEGAL ADVICE
Legal advice is the application of abstract principles of law to the concrete facts of the client's case in order to advise the client about what they should do next. In many countries, only a properly licensed lawyer may provide legal advice to clients for good consideration, even if no lawsuit is contemplated or is in progress. Therefore, even conveyancers and corporate in-house counsel must first get a license to practice, though they may actually spend very little of their careers in court. Failure to obey such a rule is the crime of unauthorized practice of law.
In other countries, jurists who hold law degrees are allowed to provide legal advice to individuals or to corporations, and it is irrelevant if they lack a license and cannot appear in court. Some countries go further; in England and Wales, there is no general prohibition on the giving of legal advice. Sometimes civil law notaries are allowed to give legal advice, as in Belgium. In many countries, non-jurist accountants may provide what is technically legal advice in tax and accounting matters
The role of the lawyer varies significantly across legal jurisdictions, and so it can be treated here in only the most general terms
TERMINOLOGIES
In practice, legal jurisdictions exercise their right to determine who is recognized as being a lawyer; as a result, the meaning of the term "lawyer" may vary from place to place.
In New Zealand and Australia the word "lawyer" is used to refer to both barristers and solicitors (whether in private practice or practising as corporate in-house counsel).
In Canada, the word "lawyer" only refers to individuals who have been called to the bar or have qualified as civil law notaries in the province of Quebec. Common law lawyers in Canada may also be known as "barristers and solicitors", but should not be referred to as "attorneys", since that term has a different meaning in Canadian usage. However, in Quebec, civil law advocates (or avocats in French) often call themselves "attorney" and sometimes "barrister and solicitor".
In England, "lawyer" is used loosely to refer to a broad variety of law-trained persons. It includes practitioners such as barristers, solicitors, legal executives and licensed conveyancers; and people who are involved with the law but do not practise it on behalf of individual clients, such as judges, court clerks, and drafters of legislation.
In India, the term "lawyer" is often colloquially used, but the official term is "advocate" as prescribed under the Advocates Act, 1961.
In Scotland, the word "lawyer" refers to a more specific group of legally trained people. It specifically includes advocates and solicitors. In a generic sense, it may also include judges and law-trained support staff.
In the United States, the term generally refers to attorneys who may practice law; it is never used to refer to patent agents or paralegals.
Other nations tend to have comparable terms for the analogous concept
RESPONSIBILITIES
In most countries, particularly civil law countries, there has been a tradition of giving many legal tasks to a variety of civil law notaries, clerks, and scriveners. These countries do not have "lawyers" in the American sense, insofar as that term refers to a single type of general-purpose legal services provider; rather, their legal professions consist of a large number of different kinds of law-trained persons, known as jurists, of which only some are advocates who are licensed to practice in the courts. It is difficult to formulate accurate generalizations that cover all the countries with multiple legal professions, because each country has traditionally had its own peculiar method of dividing up legal work among all its different types of legal professionals.
Notably, England, the mother of the common law jurisdictions, emerged from the Dark Ages with similar complexity in its legal professions, but then evolved by the 19th century to a single dichotomy between barristers and solicitors. An equivalent dichotomy developed between advocates and procurators in some civil law countries, though these two types did not always monopolize the practice of law as much as barristers and solicitors, in that they always coexisted with civil law notaries.
Several countries that originally had two or more legal professions have since fused or united their professions into a single type of lawyer. Most countries in this category are common law countries, though France, a civil law country, merged together its jurists in 1990 and 1991 in response to Anglo-American competition. In countries with fused professions, a lawyer is usually permitted to carry out all or nearly all the responsibilities
LEGAL ADVICE
Legal advice is the application of abstract principles of law to the concrete facts of the client's case in order to advise the client about what they should do next. In many countries, only a properly licensed lawyer may provide legal advice to clients for good consideration, even if no lawsuit is contemplated or is in progress. Therefore, even conveyancers and corporate in-house counsel must first get a license to practice, though they may actually spend very little of their careers in court. Failure to obey such a rule is the crime of unauthorized practice of law.
In other countries, jurists who hold law degrees are allowed to provide legal advice to individuals or to corporations, and it is irrelevant if they lack a license and cannot appear in court. Some countries go further; in England and Wales, there is no general prohibition on the giving of legal advice. Sometimes civil law notaries are allowed to give legal advice, as in Belgium. In many countries, non-jurist accountants may provide what is technically legal advice in tax and accounting matters
Monday, September 21, 2009
Tuesday, September 8, 2009
TRADING BASICS
All currency trades involve the buying of one currency and the selling of another, simultaneously. Currency quotes are given as exchange rates; that is, the value of one currency relative to another. The relative supply and demand of both currencies will determine the value of the exchange rate.When a currency trader places a trade he wants the currency purchased to appreciate in value versus the currency sold. His ability to determine the direction that the exchange rate will move, will dictate his gain or loss in a trade. Let's do an example with a currency quote obtained from the forex trading system.Hypothetical Example of a forex tradeThe current bid-ask price for EUR/USD is 1.0120/1.0126, meaning you can buy 1 euro (EUR) for 1.0126 US dollars (USD).Suppose you feel that the EUR is undervalued against the dollar. To execute this strategy, you would buy Euros (simultaneously selling Dollars) and then wait for the exchange rate to rise.So you make the trade: purchasing 100,000 EUR (1 lot) and selling 101,260 Dollars.(Remember, at 1% margin, your initial margin deposit would be 1,000 Euros.)As you expected, EUR/USD rises to 1.0236/42. Since you bought Euros and sold Dollars in your previous trade, you must now sell Euros for Dollars to realize any profit. You can now sell 1 EUR for 1.0236 Dollars. When you sell the 100,000 Euros at the current EUR/USD rate of 1.0236, you will receive 102,360 USD.Since you originally sold (paid) 101,260 USD, your profit is US $1100 (please note: if the price of the Euro against the US Dollar would have gone down instead of up by the same amount in the example above, there would have been a loss of $1100 instead of a profit. A possibility for profit is always accompanied by a risk of loss).Total profit = US $1100.00
FOREX TRADING ADVANTAGE
Advantages Over Stock TradingIf you are interested in online currency trading, you will find the forex market offers several advantages over stock and futures trading. The advantages of forex trading are as follow:24-hour forex tradingForex is a true 24-hour market.Whether it's 6 PM or 6 AM, somewhere in the world there are buyers and sellers actively trading foreign currencies. Traders involved in forex trading can always respond to breaking news immediately, and profit and loss is not affected by after hours earning reports, analyst conference calls, nor trading stoppages due to "pending news" or announcements.After hours trading for U.S. stocks and futures brings with it several limitations. ECN's (Electronic Communication Networks), also called matching systems, exist to bring together buyers and sellers - when possible. However, there is no guarantee that every trade will be executed, nor at a fair market price. Quite frequently, traders must wait until the market opens the following day in order to receive a tighter spread.Superior liquidityWith a daily trading volume that is 50 times larger than the New York Stock Exchange, there are always broker/dealers willing to buy or sell currencies in the forex markets. The liquidity of the forex market, especially that of the major currencies, helps ensure price stability. Traders can almost always open or close a position at a fair market price. This is a huge advantage of forex trading.Because of the lower trade volume, investors in the stock market and other exchange-traded markets are more vulnerable to liquidity risk, which results in a wider dealing spread or larger price movements in response to any relatively large transaction.100:1 Leverage in forex trading100 to 1 leverage is commonly available from online forex dealers, which substantially exceeds the common 2:1 margin offered by equity brokers, and 15:1 in the futures market. At 100:1, traders post $1000 margin for a $100,000 position, or 1%. Increasing leverage increases risk.While certainly not for everyone, the substantial leverage available from online forex trading firms can multiply both gains and losses. Rather than merely loading up on risk as many people incorrectly assume, leverage is essential in the forex market. This is because the average daily percentage move of a major currency is less than 1%, whereas a stock can easily have a 10% price move on any given day.The most effective way to manage the risk associated with margined forex trading is to diligently follow a disciplined trading style that consistently utilizes stop and limit orders. Devise and adhere to a forex trading system where your controls kick in when emotion might otherwise take over.Lower transaction costsIt is much more cost-efficient to trade forex in terms of both commissions and transaction fees (See the "Commission-Free Trading" section of the disclosure page).Commissions for stock trades in the online discount brokerage world typically range from $7.95-$29.95 per trade, with full service brokers typically charging $100 or more per trade. An average commission on a futures trade is $15 a round turn. Forex brokers offer much lower commission structures. Thus, investors involved in forex trading could limit their cost.Equal profit potential in both rising and falling marketsIn every open forex position, an investor is long in one currency and short the other.A short position is one in which the trader sells the base currency in anticipation that it will depreciate. This means that, in forex trading, potential exists in a rising as well as a falling market.The ability to sell currencies without any limitations is another distinct advantage over equity trading. In the US equity markets, it is much more difficult to establish a short position due to the Zero Uptick rule, which prevents investors from shorting a stock unless the immediately preceding trade was equal to or lower than the price of the short sale. This limitation does not exist in forex trading.
FOREX STIMULATED TRADE
Forex simulated trading helps investors practice their forex trading before risking any money. For that reason, taking part in an online forex trading simulation is essential for the long-term success of any trader. The lower the experience level of a trader, the longer that trader should be actively involved in online simulated forex trading.Before using a simulated forex trading system, it is important that the system is a live simulation program that provides lifelike results. The forex trading simulation system should allow the trader to execute practice trades at prevailing market prices using real time, streaming data.Our simulated forex trading program meets all these requirements and more. Before putting real money to day trade currencies, a trader can sign up for a 30-day demo that provides lifelike executions, streaming charts, technical analysis, news, market commentaries and other features. The program could also be used to simulate day trading.The example of the forex trading simulator shows three currency pairs that consist of four of the major foreign currencies: the US Dollar (USD), the Swiss Franc (CHF), the Euro (EUR), and the Japanese Yen (JPY). The real-time, streaming graph shown is a candlestick graph of the Dollar / Yen (USD/JPY) exchange rate in 10-minute periods. The graph is enhanced with a technical analysis study consisting of 10-period and 20-period Simple Moving Averages and a horizontal channel between 120.2906 Yen and 119.9100 Yen.Whether you are an experienced stock day trader or a novice to the trading world, you could benefit from taking our online forex simulated trading program for a test drive. See how good you are at forex trading by using our online currency trading simulation. If you have any questions about simulated forex trading or any other of our services
FOREX TAXES
This applies to U.S. traders only. Foreign investors that are not residents or citizens of the United States of America do not have to pay any taxes on foreign exchange profits.This information is for educational purposes only and should not be construed as tax or investment advice of any kind. Make sure that you consult with a tax professional about your forex taxes.More and more investors from all over the world are accessing the largest financial markets online through their personal computers. As demand surges for foreign exchange trading, more and more U.S. Traders have to deal with taxation issues at the end of the year.
Forex: Taxed as Futures or Cash?Currency traders involved in the forex spot (cash) market, can choose to be taxed under the same tax rules as regular commodities [IRC (Internal Revenue Code) Section 1256 contracts] or under the special rules of IRC Section 988 (Treatment of Certain Foreign Currency Transactions).
IRC 988 applies to cash forex unless the trader elects to opt out.The Advantage of Section 1256 for Currency TradersUnder Section 1256, forex traders can have a significant advantage over stock traders. By reporting capital gains on IRS Form 6781 (Gains and Losses from Section 1256 Contracts and Straddles), forex traders are allowed to split their capital gains on Schedule D using a 60% / 40% split. This means that 60% of the capital gains are taxed at the lower, long-term capital gains rate (currently 15%) and the remaining 40% at the ordinary or short-term capital gains rate, which depends on the tax bracket the trader falls under (as high as 35%). This results in an average rate of 23%, which is 12% less than the regular (short-term) rate.
If cash forex is subject to the Section 988 rules, how can a trader elect the more beneficial Section 1256 split? Please read on to find out more.To Opt Out or Not to Opt Out of Section 988Companies that profit from the fluctuation in foreign exchange rates as part of their normal course of business, fall under Section 988.
This means their gains and losses from foreign exchange (such as buying and selling of foreign goods) are treated as interest income or expense and get taxed accordingly. Consequently, they do not receive the beneficial 60/40 split.Since forex traders are also exposed to daily exchange rate fluctuations, their trading activity falls under the provisions of Section 988 too - but don't worry. The IRS wants to be nice to you (so far).
Because these daily fluctuations can be considered part of a currency trader's assets in the normal course of his business, the IRS gives the trader the option of rejecting (opting out) of Section 988 and electing that the gains be taxed under the favorable 60/40 split of Section 1256.
What do you have to do to opt out of Section 988? Even though you don't have to file anything with the IRS to opt out, you are required to do so "internally" before starting to trade; i.e., you must keep records in your own books about the fact that you are opting out of Section 988.
Many currency traders bend the rules by waiting after the year is over to see if they have any gains from their trading activities. If they do, they claim that they elected out of IRC 988 to enjoy the beneficial Section 1256 treatment. On the other hand, if the sum of the trades from cash forex is not positive, they stick with the traditional Section 988. Since (under the current tax law) it becomes very difficult to disprove whether the trader made the election at the beginning or at the end of the year, IRS has not yet begun to crack down on this activity.
What does a Forex Trader do When Tax Time Comes?Forex traders should receive 1099 forms from their US-based broker at the end of the year like stock and futures traders do. No matter in what country your forex broker is based or what tax-related reports they provide, you could pull up reports online from your accounts and seek the help of a tax professional. No matter what you decide to do, don't fall into the temptation of lumping your trades with your section 1256 activity (if any).
Forex transactions need to be separated into Section 988 reporting.Given the fact that the forex market is one of the fastest-growing financial markets around, it might eventually come under closer IRS regulation. In the meantime, traders continue to enjoy tax advantages by trading foreign currencies.
Forex: Taxed as Futures or Cash?Currency traders involved in the forex spot (cash) market, can choose to be taxed under the same tax rules as regular commodities [IRC (Internal Revenue Code) Section 1256 contracts] or under the special rules of IRC Section 988 (Treatment of Certain Foreign Currency Transactions).
IRC 988 applies to cash forex unless the trader elects to opt out.The Advantage of Section 1256 for Currency TradersUnder Section 1256, forex traders can have a significant advantage over stock traders. By reporting capital gains on IRS Form 6781 (Gains and Losses from Section 1256 Contracts and Straddles), forex traders are allowed to split their capital gains on Schedule D using a 60% / 40% split. This means that 60% of the capital gains are taxed at the lower, long-term capital gains rate (currently 15%) and the remaining 40% at the ordinary or short-term capital gains rate, which depends on the tax bracket the trader falls under (as high as 35%). This results in an average rate of 23%, which is 12% less than the regular (short-term) rate.
If cash forex is subject to the Section 988 rules, how can a trader elect the more beneficial Section 1256 split? Please read on to find out more.To Opt Out or Not to Opt Out of Section 988Companies that profit from the fluctuation in foreign exchange rates as part of their normal course of business, fall under Section 988.
This means their gains and losses from foreign exchange (such as buying and selling of foreign goods) are treated as interest income or expense and get taxed accordingly. Consequently, they do not receive the beneficial 60/40 split.Since forex traders are also exposed to daily exchange rate fluctuations, their trading activity falls under the provisions of Section 988 too - but don't worry. The IRS wants to be nice to you (so far).
Because these daily fluctuations can be considered part of a currency trader's assets in the normal course of his business, the IRS gives the trader the option of rejecting (opting out) of Section 988 and electing that the gains be taxed under the favorable 60/40 split of Section 1256.
What do you have to do to opt out of Section 988? Even though you don't have to file anything with the IRS to opt out, you are required to do so "internally" before starting to trade; i.e., you must keep records in your own books about the fact that you are opting out of Section 988.
Many currency traders bend the rules by waiting after the year is over to see if they have any gains from their trading activities. If they do, they claim that they elected out of IRC 988 to enjoy the beneficial Section 1256 treatment. On the other hand, if the sum of the trades from cash forex is not positive, they stick with the traditional Section 988. Since (under the current tax law) it becomes very difficult to disprove whether the trader made the election at the beginning or at the end of the year, IRS has not yet begun to crack down on this activity.
What does a Forex Trader do When Tax Time Comes?Forex traders should receive 1099 forms from their US-based broker at the end of the year like stock and futures traders do. No matter in what country your forex broker is based or what tax-related reports they provide, you could pull up reports online from your accounts and seek the help of a tax professional. No matter what you decide to do, don't fall into the temptation of lumping your trades with your section 1256 activity (if any).
Forex transactions need to be separated into Section 988 reporting.Given the fact that the forex market is one of the fastest-growing financial markets around, it might eventually come under closer IRS regulation. In the meantime, traders continue to enjoy tax advantages by trading foreign currencies.
FOREX GLOSSARY
A-YAppreciation - A currency is said to 'appreciate ' when it strengthens in price in response to market demand.Arbitrage - The purchase or sale of an instrument and simultaneous taking of an equal and opposite position in a related market, in order to take advantage of small price differentials between markets.Around - Dealer jargon used in quoting when the forward premium/discount is near parity. For example, "two-two around" would translate into 2 points to either side of the present spot.Ask Rate - The rate at which a financial instrument if offered for sale (as in bid/ask spread).Asset Allocation - Investment practice that divides funds among different markets to achieve diversification for risk management purposes and/or expected returns consistent with an investor's objectives.Back Office - The departments and processes related to the settlement of financial transactions.Balance of Trade - The value of a country's exports minus its imports.Base Currency - In general terms, the base currency is the currency in which an investor or issuer maintains its book of accounts. In the FX markets, the US Dollar is normally considered the 'base' currency for quotes, meaning that quotes are expressed as a unit of $1 USD per the other currency quoted in the pair. The primary exceptions to this rule are the British Pound, the Euro and the Australian Dollar.Bear Market - A market distinguished by declining prices.Bid/Ask Spread - The difference between the bid and offer price, and the most widely used measure of market liquidity.Big Figure - Dealer expression referring to the first few digits of an exchange rate. These digits rarely change in normal market fluctuations, and therefore are omitted in dealer quotes, especially in times of high market activity. For example, a USD/Yen rate might be 107.30/107.35, but would be quoted verbally without the first three digits i.e. "30/35".Book - In a professional trading environment, a 'book' is the summary of a trader's or desk's total positions.Broker - An individual or firm that acts as an intermediary, putting together buyers and sellers for a fee or commission. In contrast, a 'dealer' commits capital and takes one side of a position, hoping to earn a spread (profit) by closing out the position in a subsequent trade with another party.Bretton Woods Agreement of 1944 - An agreement that established fixed foreign exchange rates for major currencies, provided for central bank intervention in the currency markets, and pegged the price of gold at US $35 per ounce. The agreement lasted until 1971, when President Nixon overturned the Bretton Woods agreement and established a floating exchange rate for the major currencies.Bull Market - A market distinguished by rising prices.Bundesbank - Germany's Central Bank.Cable - Trader jargon referring to the Sterling/US Dollar exchange rate. So called because the rate was originally transmitted via a transatlantic cable beginning in the mid 1800's.Candlestick Chart - A chart that indicates the trading range for the day as well as the opening and closing price.If the open price is higher than the close price, the rectangle between the open and close price is shaded. If the close price is higher than the open price, that area of the chart is not shaded.Central Bank - A government or quasi-governmental organization that manages a country's monetary policy. For example, the US central bank is the Federal Reserve, and the German central bank is the Bundesbank.Chartist - An individual who uses charts and graphs and interprets historical data to find trends and predict future movements. Also referred to as Technical Trader.Clearing - The process of settling a trade.Contagion - The tendency of an economic crisis to spread from one market to another. In 1997, political instability in Indonesia caused high volatility in their domestic currency, the Rupiah.From there, the contagion spread to other Asian emerging currencies, and then to Latin America, and is now referred to as the 'Asian Contagion'.Commission - A transaction fee charged by a broker.Confirmation - A document exchanged by counterparts to a transaction that states the terms of said transaction.Contract - The standard unit of trading,Counterparty - One of the participants in a financial transaction.Country Risk - Risk associated with a cross-border transaction, including but not limited to legal and political conditions.Cross Rate - The exchange rate between any two currencies that are considered non-standard in the country where the currency pair is quoted. For example, in the US, a GBP/JPY quote would be considered a cross rate, whereas in UK or Japan it would be one of the primary currency pairs traded.Currency - Any form of money issued by a government or central bank and used as legal tender and a basis for trade.Currency Risk - the probability of an adverse change in exchange rates.Day Trading - Refers to positions which are opened and closed on the same trading day.Dealer - An individual who acts as a principal or counterpart to a transaction. Principals take one side of a position, hoping to earn a spread (profit) by closing out the position in a subsequent trade with another party. In contrast, a broker is an individual or firm that acts as an intermediary, putting together buyers and sellers for a fee or commission.Deficit - A negative balance of trade or payments.Delivery - An FX trade where both sides make and take actual delivery of the currencies traded.Depreciation - A fall in the value of a currency due to market forces.Derivative - A contract that changes in value in relation to the price movements of a related or underlying security, future or other physical instrument. An Option is the most common derivative instrument.Devaluation - The deliberate downward adjustment of a currency's price, normally by official announcement.Economic Indicator - A government issued statistic that indicates current economic growth and stability. Common indicators include employment rates, Gross Domestic Product (GDP), inflation, retail sales, etc.European Monetary Union (EMU) - The principal goal of the EMU is to establish a single European currency called the Euro, which will officially replace the national currencies of the member EU countries in 2002. On January 1st, 1999 the transitional phase to introduce the Euro began. The Euro now exists as a banking currency and paper financial transactions and foreign exchange are made in Euros. This transition period will last for three years, at which time Euro notes an coins will enter circulation. On July 1,2002, only Euros will be legal tender for EMU participants, the national currencies of the member countries will cease to exist. The current members of the EMU are Germany, France, Belgium, Luxembourg, Austria, Finland, Ireland, the Netherlands, Italy, Spain and Portugal.EURO - the currency of the European Monetary Union (EMU). A replacement for the European Currency Unit (ECU).European Central Bank (ECB) - the Central Bank for the new European Monetary Union.Federal Deposit Insurance Corporation (FDIC ) - The regulatory agency responsible for administering bank depository insurance in the US.Federal Reserve (Fed) - The Central Bank for the United States.Flat/square - Dealer jargon used to describe a position that has been completely reversed, e.g. you bought $500,000 then sold $500,000, thereby creating a neutral (flat) position.Foreign Exchange - (Forex, FX) - the simultaneous buying of one currency and selling of another.Forward - The pre-specified exchange rate for a foreign exchange contract settling at some agreed future date, based upon the interest rate differential between the two currencies involved.Forward points - The pips added to or subtracted from the current exchange rate to calculate a forward price.Fundamental analysis - Analysis of economic and political information with the objective of determining future movements in a financial market.Futures Contract - An obligation to exchange a good or instrument at a set price on a future date. The primary difference between a Future and a Forward is that Futures are typically traded over an exchange (Exchange-Traded Contacts - ETC), versus forwards, which are considered Over The Counter (OTC) contracts. An OTC is any contract NOT traded on an exchange.Good 'Til Cancelled Order (GTC) - An order to buy or sell at a specified price. This order remains open until filled or until the client cancels.Hedge - A position or combination of positions that reduces the risk of your primary position.Inflation - An economic condition whereby prices for consumer goods rise, eroding purchasing power.Initial margin - The initial deposit of collateral required to enter into a position as a guarantee on future performance.Interbank rates - The Foreign Exchange rates at which large international banks quote other large international banks.Leading Indicators - Statistics that are considered to predict future economic activity.LIBOR - The London Inter-Bank Offered Rate. Banks use LIBOR when borrowing from another bank.Limit order - An order with restrictions on the maximum price to be paid or the minimum price to be received. As an example, if the current price of USD/YEN is 102.00/05, then a limit order to buy USD would be at a price below 102. (i.e., 101.50).Liquidity - The ability of a market to accept large transaction with minimal to no impact on price stability.Liquidation - The closing of an existing position through the execution of an offsetting transaction.Long position - A position that appreciates in value if market prices increase.Margin call - A request from a broker or dealer for additional funds or other collateral to guarantee performance on a position that has moved against the customer.Market Maker - A dealer who regularly quotes both bid and ask prices and is ready to make a two-sided market for any financial instrument.Market Risk - Exposure to changes in market prices.Mark-to-Market - Process of reevaluating all open positions with the current market prices. These new values then determine margin requirements.Maturity - The date for settlement or expiration of a financial instrument.Momentum investor - A market participant who increase market exposure when the market is rising and decreases exposure or goes short when the market is declining.Offer - The rate at which a dealer is willing to sell a currency.Offsetting transaction - A trade with which serves to cancel or offset some or all of the market risk of an open position.One Cancels the Other Order (OCO) - A designation for two orders whereby one part of the two orders is executed the other is automatically cancelled.Open order - An order that will be executed when a market moves to its designated price. Normally associated with Good 'til Cancelled Orders.Open position - A deal not yet reversed or settled with a physical payment.Over the Counter (OTC ) - Used to describe any transaction that is not conducted over an exchange.Overnight - A trade that remains open until the next business day.Pips - Digits added to or subtracted from the fourth decimal place, i.e. 0.0001. Also called Points.Political Risk - Exposure to changes in governmental policy which will have an adverse effect on an investor's position.Position - The netted total holdings of a given currency.Premium - In the currency markets, describes the amount by which the forward or futures price exceed the spot price.Price Transparency - Describes quotes to which every market participant has equal accessQuote - An indicative market price, normally used for information purposes only.Rate - The price of one currency in terms of another, typically used for dealing purposes.Resistance - A term used in technical analysis indicating a specific price level at which analysis concludes people will sell.Revaluation - An increase in the exchange rate for a currency as a result of central bank intervention. Opposite of Devaluation.Risk - Exposure to uncertain change, most often used with a negative connotation of adverse change.Risk Management - the employment of financial analysis and trading techniques to reduce and/or control exposure to various types of risk.Roll-Over - Process whereby the settlement of a deal is rolled forward to another value date. The cost of this process is based on the interest rate differential of the two currencies.Settlement - The process by which a trade is entered into the books and records of the counterparts to a transaction. The settlement of currency trades may or may not involve the actual physical exchange of one currency for another.Short Position - An investment position that benefits from a decline in market price.Spot Price - The current market price. Settlement of spot transactions usually occurs within two business days.Spread - The difference between the bid and offer prices.Sterling - slang for British Pound.Stop Loss Order - Order type whereby an open position is automatically liquidated at a specific price. Often used to minimize exposure to losses if the market moves against an investor's position. As an example, if an investor is long USD at 156.27, they might wish to put in a stop loss order for 155.49, which would limit losses should the dollar depreciate, possibly below 155.49.Support Levels - A technique used in technical analysis that indicates a specific price ceiling and floor at which a given exchange rate will automatically correct itself. Opposite of resistance.Swap - A currency swap is the simultaneous sale and purchase of the same amount of a given currency at a forward exchange rate.Swissy - Slang for Swiss Franc.Technical Analysis - An effort to forecast prices by analyzing market data, i.e. historical price trends and averages, volumes, open interest, etc.Tomorrow Next (Tom/Next) - Simultaneous buying and selling of a currency for delivery the following day.Transaction Cost - the cost of buying or selling a financial instrument.Transaction Date - The date on which a trade occurs.Turnover - The total money value of all executed transactions in a given time period; volume.Two-Way Price - When both a bid and offer rate is quoted for a FX transaction.Uptick - a new price quote at a price higher than the preceding quote.Uptick Rule - In the U.S., a regulation whereby a security may not be sold short unless the last trade prior to the short sale was at a price lower than the price at which the short sale is executed.US Prime Rate - The interest rate at which US banks will lend to their prime corporate customers.Value Date - The date on which counterparts to a financial transaction agree to settle their respective obligations, i.e., exchanging payments. For spot currency transactions, the value date is normally two business days forward. Also known as maturity date.Variation Margin - Funds a broker must request from the client to have the required margin deposited. The term usually refers to additional funds that must be deposited as a result of unfavorable price movements.Volatility (Vol) - A statistical measure of a market's price movements over time.Whipsaw - slang for a condition of a highly volatile market where a sharp price movement is quickly followed by a sharp reversal.Yard - Slang for a billion
ESCORT TO ACHIEVE MILLION GRADE
There is no place in the world like Forex trading market to accomplish success in spawning oodles of money. The Foreign Exchange trading, popularly known as Forex, deals with purchase and sell of foreign currencies and thus, holds unleashed potential equivalent to share trading.How does it WorkForex trading is driven by the fluctuating forces existing in the currency market. These forces are capable of playing with the prices of currencies from different countries. Thus, there is a constant revision of the worth possessed by each currency.Investment in Forex trading is made by converting one currency into another during its deceased value phase on the run.When the prices of new currency climb new heights, the investor has the options to convert it back to the original form or alter it into other another currency.Thus, keeping in mind the fact that nothing remains constant in this universe, one can expect to earn high yields on Forex trading investments. The prospective investors in this market must learn existing trends in Forex trading before making serious investments.Essence of Forex Auto TradingForex auto trading is the latest buzz in the investment market. There are a number of automated software tools, which are taking the Forex investment market by storm. One of the most accepted and appreciated Forex auto trading software is Forex Auto Pilot, popularly known as FAPS.So, why does an investor need to look upon at these efficient software systems for Forex trading?First of all, these systems work beyond the capabilities of humans in exploring the high and low phases of Forex trade market. Thus, these tools are helpful in employing extensive research for your investment to flourish.These tools are capable of keeping the knowledge of each world currency in its database and utilizing this information to bring desired profits for the investors.Being a human, it is impossible for investors to keep their eyes on computer screen for 24 hours a day. However, one may hire these tools to work round-the-clock without asking for a lunch break.The auto Forex trading tools are dedicated to fuel the idea of home-business. Let us keep this point on hold for further discussion later on.These systems are risk-analyzers. Thus, the risk factors, which might be overlooked by human eyes, are analyzed by these systems.These automated tools are considered as connoisseurs in handling the voluminous data associated with Forex market, which may take serious turns in fractions of seconds.Also, one may invest in more than one trade at a given point of time with the help of these automated software systems. More than that, it allows the investor to make investments on different trading platforms.A proficient trader can enhance his or her proficiency level by learning the benefits of Forex trading systems. However, moral of the story is that Forex automated trading software systems have proven their mettle in the world of investments and this has been made possible by thinking minds behind these systems.In the Horde of Forex Trading SystemsEvery new development in a particular field is accompanied by the dawn of service providers to prove their flair in providing maximum benefits associated with it. In case of Forex trading automated systems, a number of products have been launched in the recent times and the number is still going strong. However, it is not in the aptitude of everyone to provide underlying functionality in the form of these automated systems.One celebrated name in this direction is that of Forex Auto Pilot System, as it comes from the bench of a successful Forex trader. The system has been endowed with all capabilities to emerge as a powerful Forex trading tool.
EFFICIENT USAGE OF FOREX TRADING TOOLS
Possessing one of these automatic tools is not enough for a budding investor. It is time to introduce you to newly purchased system and learn the tracks of reaching the peak of investment market.First of all, you must make an effective selection amongst desktop-installed software or Internet-facilitated automated tool for Forex trading. The later one definitely shares more benefits with an investor:First of all, there is no headache of maintaining the software.Also, you may access this software from different corners of the worldMost importantly, it is a more secure system as compared to desktop based application.After making a good selection, one must study the software to its depth. It is always good to know the system, which promises to earn significant money for your investments.One must understand the real meaning of word ‘auto’. These tools are made self-sufficient to work for the investor. Thus, it is not a wise act to interfere in its working.Now, that doesn’t mean that an investor should not possess the know-how of Forex trade market. Keep your knowledge updated to entertain the requirements at any point of time.Having said all, it is time to express the gratitude towards people, who burn their night oils in coming up with these wonderful automated systems. The development of these systems requires the knowledge of two significant aspects. Firstly, there must be updated knowledge of trends existing in Forex trading market to prepare all type of figures and calculative functionality for these systems. Secondly, technical knowledge of computer programming completes the picture of ending up with a dependable tool for trading.Believing our beliefs that it is nice to recommend good things to others, we want to help your search for Forex trading systems to attain meaning. Forex Auto Pilot System is the talk of the town for all good reasons. The system promises most effectual currency trading in the biggest market of world. Thus, there is no fun in wasting the time. Get set to attain what is called the status of a millionaire.
FOREX TRADING
In recent years, there are many people are involved in forex trading. Do you know what forex trading is ? Have you ever saw trading on the stock market? OK, Forex trading is just quite similar with that and in this field we make a deals with trading currencies amongst different countries which is usually done with a financial institution or a broker.At this moment, we can say that Forex becomes the largest market on the planet and it is always changing, worldwide, 24×7. All these aspect is one of the things that makes forex so exciting. With that kind of activity, it is not always accurately predictable, but you need to understand the market so that you can jump on profitable trades and minimize your losses in losing trades, which is all based on the strategy that you utilize.However, before you start to trade, one important things that you need to know and understand forex trading is a gamble, and like the advice offered to those who want to enter this field, never play with money you cannot afford to lose. Keep in mind There are no guarantees in the forex market, which means that you need to utilize all the tools at your disposal to ensure you have considered all factors that will impact a currency’s value, both now and in the future.They are a key player when it comes to forex markets and trading. The central banks are located in New York, Tokyo and London. In fact, these are the areas where the concentration of central banks are the largest. If financial institutions suffer a loss in the forex market, the investors will also feel the loss.If you really want to get serious please take the time to learn the forex market, since the financial rewards are huge, but make sure you also protect yourself by allowing for a potential loss.
PERFECT FOREX TRADING
Trading the Forex market has become very popular in the last few years. But how difficult is it to achieve success in the Forex trading arena? Or let me rephrase this question, how many traders achieve consistent profitable results trading the Forex market? Unfortunately very few, only about 5% of traders achieve this goal. One of the main reasons of this is because Forex traders focus in the wrong information to make their trading decisions and totally forget about the most important factor: Price behaviorWhat to trade in Forex Market?In the forex market, currency trading is always done in currency pairs, such as EUR/USD or GBP/USD. Accordingly, all trades result in the simultaneous buying of one currency and the selling of another. The base currency is the “basis” for the buy or the sell. It is useful to consider the currency pair as an instrument, which can be bought or sold.Understanding Forex quoteBase currency: The first currency in the pair.Counter Currency: The second currency in the pair. Also known as the terms currency.The US dollar is the centerpiece of the Forex market and is normally considered the ’base’ currency for quotes. This includes USD/JPY, USD/CHF and USD/CAD. For these currencies and many others, quotes are expressed as a unit of $1 USD per the second currency quoted in the pair. For example, a quote of USD/CAD 1.1302 means that one U.S. dollar is equal to 1.1302 Canadian dollar.BID and ASK PricesWhen trading forex you will often see a two-sided quote, consisting of a ’bid’ and ’ask’. The ’bid’ is the price at which you can sell the base currency (at the same time buying the counter currency). The ’ask’ is the price at which you can buy the base currency (at the same time selling the counter currency).Commission-free, but with spreadsMost Forex brokers offer commission-free Forex trading. Spread - The difference between the bid and ask price of a currency. Normally 3-5 pips on the Majors.Rollover - What happens to my open positions at the end of the trading day?Process whereby the settlement of a deal is rolled forward to another value date. The cost of this process is based on the interest rate differential of the two currencies. Most brokers will automatically roll over your open positions, allowing you to hold a position for an indefinite period of time.Leverage & MarginThe leverage available in forex trading is one of main attractions for many traders. Leveraged trading, or trading on margin, simply means that you are not required to put up the full value of the position. Forex brokers provide more leverage than stocks or futures. In forex trading, the amount of leverage available can be up to 400 times the value of your account.
REASONS FOR FOREX POPULARITY
Forex or Foreign Exchange is nothing but a market where corporations, nations and retail investors exchange their money to make a profit. Though the smallest increment in the Forex, the pip, has only a value of 0.0001 of a dollar in most cases, its value quickly adds up to huge profits or losses, due to the fact that trillions of dollars are exchanged in the Forex market which is open 24 hours a day, 6 days a week. Added to that, Forex is one of the most exciting, highly volatile and attractive investment markets in the world.However, with careful analysis and using different strategies, charts and trading systems, it is possible for a trader to determine when to enter and exit a position to make a profit. Though it is possible to make unlimited profits, because of the unpredictability of the Forex market, stops are placed on orders to prevent losses. Even if you are a seasoned trader and use a proven system, it is always wise to place stops on each and every order, as the market can swing unexpectedly sweeping away your investment in the blink of an eye.
BENEFIT OF TRADING
Investors and entrepreneurs are moving away from conventional financial markets such as commodities futures, bonds, stocks and other commodities and prefer to invest their money in the Forex market. The reason behind this migration is due the fact that the Forex market has lucrative and far better benefits when compared to any other type of financial market.The power of Forex market is such that even a seasoned Commodities or Stocks trader will find out in a short time the advantages of Forex over their traditional trading avenues. It is possible for you to make up to $3000 by trading in the Forex market for just 30 minutes everyday. When compared to futures market, trading currencies in Forex market involves less risk. It is also far easier and more profitable than trading stocks.Following are some of the benefits of trading in the Forex market.• The most unique feature of Forex market is that it is open 24 hours a day. Unlike trading stocks where you have to wait for an opening bell, you can buy or sell currencies whenever you want in the Forex market. This also gives you the added advantage of choosing the right time to make your transactions.• Forex market has a huge trading volume in the range of about $1.5 trillion. The Forex market is about 30 times larger than all of the U.S equity markets put together.• As far as Forex day trading is concerned, you can make a profit out of a raising market, as well as from a falling market. This is because you have the power to decide whether to buy or sell a currency after carefully analyzing the market trend.• You can trade in the Forex market from anywhere in the world. If you have a computer with an internet connection, you can make your transactions from anywhere.• Forex trading requires considerably less initial investment. You can even start your Forex career with an investment of as low as $300. Once you learn the ropes of the trade and make a success out of your strategy, you can increase your trade up to 200 times your initial investment. Moreover in Forex market you just need to post a meagre 1% margin when compared to a 50% margin in the stock market.• The price movements are easily predictable in the Forex market. Though the price movement themselves are highly volatile, the foreign currency market follows a pattern that is easily predictable with proper technical analysis.• In Forex trading you don’t have to pay any commissions to brokers on transactions.To sum it up, Forex trading has far more advantageous than other trading platforms and gives you more control over the features and freedom to choose. You can make huge profits if you know what you are doing
FOREX DEMO
Practice makes it perfect. Due to the numerous risks that you’re getting yourself into when you join the forex trader, practice became some sort of a pre-requisite for newbie forex traders. Before, a lot of people are really scared to try their luck in the forex market because of how intricate and complicated the market is. Now, due to the existence of forex demo, a lot of people are becoming more confident in trying out their luck in market trading.A demo is a virtual forex account wherein you could put your theories and trading styles into practice. It’s a practice account where you use paper money instead of real money. In a forex demo, you get to be exposed to different investment concepts like charts, opinions, fundamental analysis, and technical analysis. You can visit online forums where you could read the opinions of other traders especially the experienced ones. You can also put your strategies into test by doing your trading activities and see their effects. In this way, you can see how effective your strategies and you can try new ideas. However, in a demo your trading transactions get recorded in a different realm; it doesn’t get recorded into the actual market since there’s no real money involved.Normally, demos are offered by companies that are selling online forex trading softwares or platforms. They let you try the demo for 30-days for free. One of the reasons why companies offer forex demos is to encourage individuals to use their software when they start trading in the real live forex market. The main goal of fore-demos is to make an individual more confident not only with the forex market trading business but also with the trading platform that is being offered by the company so that he could eventually move up to trying the real live forex trading market using the same trading platform.
START FOREX
Forex trading means you will have control on your own money by directing which currencies you want to trade in and what time to trade etc. However, you could lose your money real fast if you don’t have the adequate knowledge to start trading. Here would be a few things that you should know.1. BrokerYou would need a broker to help you execute your orders and of course, to advise you in forex trading. However, you need to do some homework before you get a broker. One way is by looking at the track record and also sees the performance of each broker. It’s important to get a forex broker that you’re comfortable with or you’ll regret every trade made.2. Having a demo accountBefore you make your first life trade, you’ll need adequate experience and one way to do this is by opening a demo account to practice trading. Every broker would have their own trading platform and once you have your own broker, they would usually give you one month trial to use it using demo money. Again, you must be comfortable with the trading platform and how it works as you will use the same thing to trade in live market.3. ChartsNext would be to understand how to read charts. Chart is different depending on the time frame and how it moves in the market. The shorter the time frame is, the easier it would be to see how the market is progressing every minute. Charting software would offer the progress as bars or lines. Take your own time figuring out each style and find one that you are most comfortable with.4. Going liveNow that you’re ready to go into live trade, you have to remember that you’re using real money now. Trading live will make you feel excited, distressed when losing and pressured when risking your money. Try to keep a cool head and remember your practice using demo account. Even when you make a few losses, accept it as part of forex trading and it won’t be long now before you make your first profit. Learning is constant. So learn from your mistakes, gain more experience and become a successful forex trader.
RELIABLE FOREX TRADING
A reliable Forex trading signal will predict the final price by taking into account the favourable and resistant levels, together with the fluctuations between past, actual and any possible alterations to the numbers. That most important factor in this is the timing of the indicator, as a particular variation can have an entirely different impact on the market in different times. Though the technical terms are quite complex and needs training and experience to get familiar with, one can follow a simple method that gives an overall trading strategy of how to interpret the news in regards to stop loss limit and exit and entry points.
BENEFITS OF FOREX
The most unique feature of Forex market is that it is open 24 hours a day. Unlike trading stocks where you have to wait for an opening bell, you can buy or sell currencies whenever you want in the Forex market. This also gives you the added advantage of choosing the right time to make your transactions.
• Forex market has a huge trading volume in the range of about $1.5 trillion. The Forex market is about 30 times larger than all of the U.S equity markets put together.
• As far as Forex day trading is concerned, you can make a profit out of a raising market, as well as from a falling market. This is because you have the power to decide whether to buy or sell a currency after carefully analyzing the market trend.
• You can trade in the Forex market from anywhere in the world. If you have a computer with an internet connection, you can make your transactions from anywhere.
• Forex trading requires considerably less initial investment. You can even start your Forex career with an investment of as low as $300. Once you learn the ropes of the trade and make a success out of your strategy, you can increase your trade up to 200 times your initial investment. Moreover in Forex market you just need to post a meagre 1% margin when compared to a 50% margin in the stock market.
• The price movements are easily predictable in the Forex market. Though the price movement themselves are highly volatile, the foreign currency market follows a pattern that is easily predictable with proper technical analysis.
• In Forex trading you don’t have to pay any commissions to brokers on transactions.
To sum it up, Forex trading has far more advantageous than other trading platforms and gives you more control over the features and freedom to choose. You can make huge profits if you know what you are doing.
• Forex market has a huge trading volume in the range of about $1.5 trillion. The Forex market is about 30 times larger than all of the U.S equity markets put together.
• As far as Forex day trading is concerned, you can make a profit out of a raising market, as well as from a falling market. This is because you have the power to decide whether to buy or sell a currency after carefully analyzing the market trend.
• You can trade in the Forex market from anywhere in the world. If you have a computer with an internet connection, you can make your transactions from anywhere.
• Forex trading requires considerably less initial investment. You can even start your Forex career with an investment of as low as $300. Once you learn the ropes of the trade and make a success out of your strategy, you can increase your trade up to 200 times your initial investment. Moreover in Forex market you just need to post a meagre 1% margin when compared to a 50% margin in the stock market.
• The price movements are easily predictable in the Forex market. Though the price movement themselves are highly volatile, the foreign currency market follows a pattern that is easily predictable with proper technical analysis.
• In Forex trading you don’t have to pay any commissions to brokers on transactions.
To sum it up, Forex trading has far more advantageous than other trading platforms and gives you more control over the features and freedom to choose. You can make huge profits if you know what you are doing.
INSTANT FOREX PROFIT
The Instant Forex Profit System is a signal generating software. This means that you feed market data into it, it runs it's calculations based on its proprietary models, and it gives you an advisory trading strategy. What I mean by advisory is that this software doesn't do any of the actual trading itself. You need to take the signals it produces for you and make the trade yourself. Why is this something you should do? There are a few reasons why a signal generating software like the Instant Forex Profit System is beneficial for any trader:1. It saves a lot of time2. It can help you recognize more trading opportunities and so make more money3. It has a higher success ratio than most traders and so can improve your bottom line.4. It takes out a lot of the uncertainty of the trading game5. It eliminates emotional mistakes which can cost you dearly. Here are some features of the Instant Forex Profit System itself: it is simple to operate, doesn't require any special knowledge, and takes very little time to operate.
FOREX MONEY MANAGEMENT
Money management is a critical point that shows difference between winners and losers. It was proved that if 100 traders start trading using a system with 60% winning odds, only 5 traders will be in profit at the end of the year. In spite of the 60% winning odds 95% of traders will lose because of their poor money management. Money management is the most significant part of any trading system. Most of traders don't understand how important it is.
TRADING SOFTWARE
Automated forex trading software and forex trading robots has been the talk of the town among forex traders in recent years. While automated forex trading software has been available to the large banks and hedgefunds for many years, it’s only with the fast growth in processing power in home computers, that they have become available to the general public. Forex robots have been used by institutional traders for years to crunch numbers and provide signals to traders. These robots used to require stand alone servers and very fast computers, but now, it’s possible to get the same results with automated forex software running on your pc or laptop. The price has gone down considerably as well from several thousand dollars to only a few hundred tops and some are even cheaper.
TRADING BASIS
Forex robot trading is a trading method that uses advanced automated forex trading systems to trade without any involvement from the trader. Many new forex traders are curious about forex robot trading, not least because of the hype surrounding new releases. Every time a new robot is launched, the internet runs wild with hype and everyone is anxious to get their hands on the newest sure thing. Some robots live up to the hype and others does not. But how can you actually make money with forex robot trading?First of all, let’s talk about how you make money form forex trading. Forex trading covers the exchange of currency pairs such as USD/EUR, forex options and forex futures. Every time someone changes one currency into another they participate in the forex market. In essence, forex trading is no different than trading stocks or bonds and in some ways is actually easier to learn. All forex is traded on the Interbank market which is the internal bank market. To trade on the Interbank market, a trader must gain access to it by using a forex broker. Forex brokers are intermediaries between the trader and the market and offer a platform to trade on. The vast majority of forex brokers use a platform called Meta Trader 4 and this is where forex robot trading comes in.
FOREX BASIS
Currency trading or forex trading may seem complicated at first glance, but the currency trading basics are not that difficult to understand. Currency trading is simply the act of exchanging one currency for another on the currency market. Every time a family changes money to go on vacation or a company makes a foreign purchase, a transaction on the forex market is carried out. The currency market exists only when a transaction is made. Unlike other financial markets such as the stock or bond market, there is no forex exchange and neither any regulating body. The market that is commonly referred to as the currency market is the banks internal market called the Interbank market. Because of this, it has traditionally been difficult to trade forex for money, but this all changed when the internet brought unlimited possibilities to connect traders to the exciting world of forex trading.
FOREX SCALPING
Scalping is the art of holding positions for a very short relative time in the market in order to make many small gains over the course of a day. But before we get into the specifics of scalping, let us take a look at some of the fundamentals behind all technical analysis fx trading.The forex market is a highly liquid market, liquid in this regard meaning there is a high number of trades being carried out every day. In fact there are more trades being done n the forex market, both in value and number, than in the stock market and bond market combined. That should tell you something about the enormous size and volatility of the forex market.
THE FORCE WITH YEN
Just when it looked like the carry trade was back for good and all signs pointed to a Yen depreciation, out of nowhere came a series of surprise developments, propping the Yen back up. Spanning finance, economics, and politics – a Forex Trifecta – these developments moved swiftly through the markets, creating optimism for the Yen where before there was only pessimism. Of course, it’s possible that this bump will prove temporary, and a reversal could transpire just as quickly.
The biggest news, by a large margin, was a report that the Japanese economy had returned to growth. Similar in scale and in tenor to stories coming out of other countries, the data showed that Japan grew at an annualized rate of 3.6% in the second quarter of 2009, a sharp reversal from the 11.7% contraction in the previous quarter (which was itself revised upward from -14%).
The sudden sea change was brought about by a combination of government spending and export growth. “New tax breaks and incentives to help sales of energy-efficient cars and household appliances, coupled with lower gas prices and a rebound in share prices, spurred consumer spending. Prime Minister Taro Aso has pledged 25 trillion yen (about $263 billion) in stimulus money, including a cash handout plan and more public spending on programs like quake-proofing the country’s public schools, to revive the economy.” Meanwhile exports grew by a healthy 6.3% from the previous quarter, while imports fell, causing the trade surplus to widen.
The announcement of economic recovery was accompanied by a noteworthy reversal in capital flows, such that Japan’s capital account swung into surprise weekly surplus: “Foreign investors bought 292.9 billion yen ($3.1 billion) more Japanese stocks than they sold during the week ended Aug. 8 and domestic investors were net buyers of 125 billion yen in overseas bonds and notes.” Meanwhile, speculation is mounting that Japanese investors will move to repatriate some of the coupon and redemption payments they receive on their US Treasury investments.
While seemingly unrelated to the economic turnaround (it’s important not to read too much into weekly data), this could be a sign that Japanese investors are growing more optimistic about domestic economic prospects and are moving to invest more at home. It’s worth noting that such a shift could actually be necessary if the recovery is to be sustained, in order to increase the role of (capital) investment, relative to exports and government spending. Ironically, it could instead be a sign of excessive pessimism, if Japanese believe that prospects for US/global growth have been overestimated, in which case risk appetite and the carry trade would be due for a combined correction.
Domestic consumption could also play an increasing role in Japan’s economy going forward, as a result of imminent political changes. “To stimulate consumption at home, the Democrats have pledged to put more money in the hands of consumers by providing child allowances, eliminating highway tolls and making fuel cheaper. That marks a shift away from the long-ruling LDP’s emphasis on steps to help companies.”
Along similar lines, the Democratic Party (which has a wide lead over the incumbent Liberal Democratic Party), has also conveyed its opposition to currency intervention, since such tactics inherently prioritize export growth over domestic consumption. “Japan’s export-led growth is reaching its limits and Tokyo should not intervene in markets to weaken the yen as long as currency moves match fundamentals, the No.2 executive in the main opposition party said on Monday.” Could the carry trade be in trouble?
The biggest news, by a large margin, was a report that the Japanese economy had returned to growth. Similar in scale and in tenor to stories coming out of other countries, the data showed that Japan grew at an annualized rate of 3.6% in the second quarter of 2009, a sharp reversal from the 11.7% contraction in the previous quarter (which was itself revised upward from -14%).
The sudden sea change was brought about by a combination of government spending and export growth. “New tax breaks and incentives to help sales of energy-efficient cars and household appliances, coupled with lower gas prices and a rebound in share prices, spurred consumer spending. Prime Minister Taro Aso has pledged 25 trillion yen (about $263 billion) in stimulus money, including a cash handout plan and more public spending on programs like quake-proofing the country’s public schools, to revive the economy.” Meanwhile exports grew by a healthy 6.3% from the previous quarter, while imports fell, causing the trade surplus to widen.
The announcement of economic recovery was accompanied by a noteworthy reversal in capital flows, such that Japan’s capital account swung into surprise weekly surplus: “Foreign investors bought 292.9 billion yen ($3.1 billion) more Japanese stocks than they sold during the week ended Aug. 8 and domestic investors were net buyers of 125 billion yen in overseas bonds and notes.” Meanwhile, speculation is mounting that Japanese investors will move to repatriate some of the coupon and redemption payments they receive on their US Treasury investments.
While seemingly unrelated to the economic turnaround (it’s important not to read too much into weekly data), this could be a sign that Japanese investors are growing more optimistic about domestic economic prospects and are moving to invest more at home. It’s worth noting that such a shift could actually be necessary if the recovery is to be sustained, in order to increase the role of (capital) investment, relative to exports and government spending. Ironically, it could instead be a sign of excessive pessimism, if Japanese believe that prospects for US/global growth have been overestimated, in which case risk appetite and the carry trade would be due for a combined correction.
Domestic consumption could also play an increasing role in Japan’s economy going forward, as a result of imminent political changes. “To stimulate consumption at home, the Democrats have pledged to put more money in the hands of consumers by providing child allowances, eliminating highway tolls and making fuel cheaper. That marks a shift away from the long-ruling LDP’s emphasis on steps to help companies.”
Along similar lines, the Democratic Party (which has a wide lead over the incumbent Liberal Democratic Party), has also conveyed its opposition to currency intervention, since such tactics inherently prioritize export growth over domestic consumption. “Japan’s export-led growth is reaching its limits and Tokyo should not intervene in markets to weaken the yen as long as currency moves match fundamentals, the No.2 executive in the main opposition party said on Monday.” Could the carry trade be in trouble?
EURO RETREAT
In forex, timing is everything. If I had written this post a couple weeks ago, the headline would read “Euro Touches 2009 High.” Perhaps if I had waited another week, it would have read, “Euro Approaching 2009 High.” But alas, I chose today to write about the Euro, and the headline I chose is probably the most appropriate under the circumstances.
On August 5, “The euro hit a high for the year against the dollar as stocks trimmed their losses in afternoon trading Wednesday despite a generally cautious tone in currency markets.” Analysts were careful to point out that the markets remained cautious and the Euro eased past – rather than smashed through – its previous high. Technical analysts would and have argued that this paved the way for the subsequently rapid decline: “The euro is testing the base of an ascending channel with daily momentum charts showing a ‘double top in overbought territory.’ ”
This notion might have some merit, considering that fundamentals arguably favor a continued Euro appreciation. “The economy of the 27-country European Union shrank 0.3 percent in the three months ended June 30, for an annual rate of roughly 1.2 percent. The 16 countries that use the euro registered a 0.1 percent decline for the second quarter, or an annual rate of roughly 0.4 percent.” While output remains well below its 2008 levels, the slight contraction represents a tremendous improvement from the first quarter, when GDP shrank by 2.5%.
“Underlying the strong reading were solid performances in France and Germany, each of which grew 0.3 percent in the second quarter, government data showed.” This is helping to offset further contractions in Italy and Spain, which have turned into economic laggards as a result of the housing bust. In addition, exports in Germany grew by 7% last month, and “Investor sentiment improved more than analysts had expected in August to its best level since April 2006.” On an aggregate basis, “the euro zone’s trade balance with the rest of the world rose to 4.6 billion euros ($6.5 billion) in June, compared to a flat balance in the same month last year,”
Still, explorers looking for bad news and/or cracks beneath the surface will have no difficulty finding them. German exports (and output in general remain down year-over-year. In addition, there are still trouble spots in the EU, notably in western Europe. “Already, the euro area’s unemployment rate stands at 9.4 percent, its highest level in 10 years, and the anemic growth of the coming quarters will not be enough to arrest the slide. That, in turn, could drag down consumer confidence or even generate political backlash in Europe, economists said.” Most worrying is perhaps that, “consumer prices in the euro area dropped 0.6 percent in July Deflation is becoming entrenched in the euro area, which would be very bad for the economy Good thing the ECB left some room to lower rates further
On August 5, “The euro hit a high for the year against the dollar as stocks trimmed their losses in afternoon trading Wednesday despite a generally cautious tone in currency markets.” Analysts were careful to point out that the markets remained cautious and the Euro eased past – rather than smashed through – its previous high. Technical analysts would and have argued that this paved the way for the subsequently rapid decline: “The euro is testing the base of an ascending channel with daily momentum charts showing a ‘double top in overbought territory.’ ”
This notion might have some merit, considering that fundamentals arguably favor a continued Euro appreciation. “The economy of the 27-country European Union shrank 0.3 percent in the three months ended June 30, for an annual rate of roughly 1.2 percent. The 16 countries that use the euro registered a 0.1 percent decline for the second quarter, or an annual rate of roughly 0.4 percent.” While output remains well below its 2008 levels, the slight contraction represents a tremendous improvement from the first quarter, when GDP shrank by 2.5%.
“Underlying the strong reading were solid performances in France and Germany, each of which grew 0.3 percent in the second quarter, government data showed.” This is helping to offset further contractions in Italy and Spain, which have turned into economic laggards as a result of the housing bust. In addition, exports in Germany grew by 7% last month, and “Investor sentiment improved more than analysts had expected in August to its best level since April 2006.” On an aggregate basis, “the euro zone’s trade balance with the rest of the world rose to 4.6 billion euros ($6.5 billion) in June, compared to a flat balance in the same month last year,”
Still, explorers looking for bad news and/or cracks beneath the surface will have no difficulty finding them. German exports (and output in general remain down year-over-year. In addition, there are still trouble spots in the EU, notably in western Europe. “Already, the euro area’s unemployment rate stands at 9.4 percent, its highest level in 10 years, and the anemic growth of the coming quarters will not be enough to arrest the slide. That, in turn, could drag down consumer confidence or even generate political backlash in Europe, economists said.” Most worrying is perhaps that, “consumer prices in the euro area dropped 0.6 percent in July Deflation is becoming entrenched in the euro area, which would be very bad for the economy Good thing the ECB left some room to lower rates further
OIL UNDER DOLLAR PRESSURE
NEW YORK (AP) -- Crude prices shot above $70 a barrel Tuesday as a falling dollar pushed investors to seek out commodities such as oil and gold.
Benchmark crude for October delivery gained $3.27 to $71.29 a barrel on the New York Mercantile Exchange. The contract settled at $68.02 on Friday after rising 6 cents.
The dollar fell to a low for the year Tuesday against the euro and several other currencies as gold prices surpassed $1,000 an ounce for the first time since February.
Investors often turn to commodities as a hedge against inflation and dollar weakness, and gold seems to be pulling oil along for the ride, said PFGBest analyst Phil Flynn.
"The move in metals has oil reluctantly rallying higher," Flynn said in his morning report. "Normally crude oil would be worrying about the upcoming OPEC meeting as opposed to worrying about the gold market."
Leaders of the Organization of Petroleum Exporting Countries have signaled they plan to keep output levels unchanged at the group's meeting Wednesday in Vienna. That could send oil prices lower as traders expect OPEC members to increasingly exceed the group's official production quotas.
Saudi Arabian oil minister Ali Naimi said Tuesday that crude markets were "in good shape," boosting expectations OPEC will use its meeting this week to stress compliance with output quotas instead of cutting production.
Naimi, whose country is OPEC's top producer, told reporters in Vienna that crude's current price "is good for everybody: consumers and producers."
Energy markets also got a boost from rising equity markets, as the Dow Jones industrials, the S&P 500, the Nasdaq composite index and most major Asian and European stock indexes all were trading higher.
In other Nymex trading, gasoline for October delivery rose 7.78 cents to $1.8541 a gallon, and heating oil gained 8.24 cents to $1.8029 a gallon. Natural gas rose 10.1 cents to $2.829 per 1,000 cubic feet.
In London, Brent crude was up $3.20 to $70.02 on the ICE Futures exchange.
Benchmark crude for October delivery gained $3.27 to $71.29 a barrel on the New York Mercantile Exchange. The contract settled at $68.02 on Friday after rising 6 cents.
The dollar fell to a low for the year Tuesday against the euro and several other currencies as gold prices surpassed $1,000 an ounce for the first time since February.
Investors often turn to commodities as a hedge against inflation and dollar weakness, and gold seems to be pulling oil along for the ride, said PFGBest analyst Phil Flynn.
"The move in metals has oil reluctantly rallying higher," Flynn said in his morning report. "Normally crude oil would be worrying about the upcoming OPEC meeting as opposed to worrying about the gold market."
Leaders of the Organization of Petroleum Exporting Countries have signaled they plan to keep output levels unchanged at the group's meeting Wednesday in Vienna. That could send oil prices lower as traders expect OPEC members to increasingly exceed the group's official production quotas.
Saudi Arabian oil minister Ali Naimi said Tuesday that crude markets were "in good shape," boosting expectations OPEC will use its meeting this week to stress compliance with output quotas instead of cutting production.
Naimi, whose country is OPEC's top producer, told reporters in Vienna that crude's current price "is good for everybody: consumers and producers."
Energy markets also got a boost from rising equity markets, as the Dow Jones industrials, the S&P 500, the Nasdaq composite index and most major Asian and European stock indexes all were trading higher.
In other Nymex trading, gasoline for October delivery rose 7.78 cents to $1.8541 a gallon, and heating oil gained 8.24 cents to $1.8029 a gallon. Natural gas rose 10.1 cents to $2.829 per 1,000 cubic feet.
In London, Brent crude was up $3.20 to $70.02 on the ICE Futures exchange.
TREASURY AUCTION
Treasuries Gain Prior to Three-Year Note Auction, Fed Meeting Treasuries rose for a second day before a record $37 billion auction of three-year notes and as the Federal Reserve meets to discuss interest rates and its asset purchase program. Ten-year notes gained yesterday for the first time in six days before the first of three debt auctions this week totaling $75 billion, the largest quarterly refunding to date. U.S. stock-index futures declined. The Federal Open Market Committee will keep its key lending rate between zero and 0.25 percent, according to all 45 economists surveyed by Bloomberg. The Fed may also decide whether to extend its $300 billion Treasury purchase plan. “We’ve been able to sustain a bit of a bid today as yields are still attractive,” said Martin Mitchell, head of government-bond trading at the Baltimore unit of Stifel Nicolaus & Co. “There is a general feeling that the refunding will go well, and there are no surprises expected out of the FOMC meeting.” The yield on the 10-year note fell three basis points, or 0.03 percentage point, to 3.75 percent at 9:05 a.m. in New York, according to BGCantor Market Data. The 3.125 percent security maturing in May 2019 rose 7/32, or $2.19 per $1,000 face amount, to 94 31/32. The U.S. government plans to sell $23 billion of 10-year notes tomorrow and $15 billion of 30-year bonds on Aug. 13. President Barack Obama has boosted marketable U.S. debt to a record $6.78 trillion to stimulate the economy and service deficits. Three-Year Notes The three-year notes being sold today yielded 1.84 percent in pre-auction trading. The securities drew a yield of 1.519 percent at the last sale, on July 7, when investors bid for 2.62 times the amount of debt offered, compared with 2.82 at the June auction. Indirect bidders, an investor class includes foreign central banks, bought 54 percent of the notes in July after purchasing 43.8 percent in the prior auction. Ten-year yields surged 37 basis points last week, the most since 2003, as better-than-estimated employment, home-sales and manufacturing data boosted confidence that the U.S. economy is recovering from the worst slump since the Great Depression. Fed policy makers meeting today are likely to discuss the purchases and other quantitative-easing measures, which include buying $1.45 trillion in mortgage-related securities, designed to drag the economy out of the recession. “Policy makers at the FOMC will probably express more optimism about growth and no change to the quantitative easing program,” said Alex Li, an interest-rate strategist in New York at Credit Suisse Securities USA LLC, one of the 18 primary dealers that trade with the Fed. The central bank is scheduled to purchase Treasuries due from August 2026 to May 2039 today. It said in March it would buy as much as $300 billion of government securities over six months to cap consumer borrowing costs. Productivity The productivity of U.S. workers grew at an annual 6.4 percent pace in the second quarter, more than forecast, after a 0.3 percent gain in the prior three months, Labor Department data showed today in Washington. The difference between rates on 10-year notes and Treasury Inflation Protected Securities, or TIPS, which reflects the outlook among traders for consumer prices, widened to 1.95 percentage points, from near zero at the end of 2008. The spread has averaged 2.20 percentage points for the past five years. With the Fed on target to complete the planned purchase of $300 billion of Treasuries in September, the exit of this year’s biggest buyer is unlikely to raise yields by depressing prices, the world’s largest bondholders say. Counterproductive The market for TIPS shows traders expect inflation over the next 10 years to average 1.96 percent, which is 0.74 percentage points less than the past decade’s average and too little to erase the value of bonds’ fixed payments. “At this stage it would probably be counterproductive for the Fed to extend this program,” said Mihir Worah, who oversees the $14 billion Real Return Fund for Pacific Investment Management Co. in Newport Beach, California. “The market does not want it to be continued” because an expansion would renew concerns that money printed to fund it would fuel inflation, he said. Treasuries handed investors a loss of 5 percent this year, while U.S. corporate bonds returned 18 percent, according to Merrill Lynch
Subscribe to:
Posts (Atom)
