Archive for January 23rd, 2010

A technical analysis course will teach you that if you can survive and live through several years of commodity trading you’ll see all the price patterns out there ( look at that again ). All the rest of repetition of those patterns . An interesting part of about being involved in commoditiesis that as you watch markets move up , while others are at the bottom, (the end of bear markets) you can tell yourself “O.K. is it their turn to move up next .” Of course, Without doubt, the cycle is begun once again, from the top to the bottom and the bottom to the top . All markets will one day cease to move down in price they move from side to side for awhile and then their price will go up . Bear markets always end in commodities, and there’s an end for the bull markets as well.

What I’ve just talked about represents a philosophical long term approach to the analysis of market prices . Basically , if market prices have come down the last year or two , the end of the bear market is in sight , and sometime the commodities will begin rising once again. You don’t even need a chart to realize this . But in analyzing the chart using a technical analysis course, it’s easy to see the bear market coming to an end and a position can be taken by the trader .

It is impossible to trade on the assumption that by noticing prices and their general movements by reading this in the news or just thinking about those movements, that it will allow you over time to figure out the way prices will move . Usually such an approach will not restrict the limits on losses once you enter the market , due to movements in price that are adverse or after profits have been accumulated. Most people in an up market that don’t use charting , for example, are taken by surprise by a bear trend or a bear crack . Chart analysis is so important for the protection against losses and protection of profits !  Enroll in a technical analysis course first before you put your money on the line .

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Rating: 4 out of 5 stars

Reviewing: UMOO Fantasy Trading

UMOO is an enjoyable way to play the financial markets especially if you are looking for fantasy trading rather than investments. Traders choose to compete in fantasy trading tournaments against other users or the financial market on UMOO for cash prizes. There are tournaments that are free to play and those where a a funded account is necessary. Tournaments requiring a funded account have increased prizes. The fantasy trading competition could be as brief as ten minutes or as long as a market period. There are fantasy trading games with stocks, forex, and commodities. All matches use real-time market data and no software installation is necessary.

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There are two varieties of fantasy tradingcontests playable on UMOO: Trading Tournaments and PIX games. In a Trading Tournament players start by choosing a tournament of interest to them. The tournaments are assembled around three popular indexes: the S&P 500, the Dow Jones Industrials, and the Straits Times index of Singapore. The Trading Tournaments require players to select stocks from the index and strive to create the highest percentage return possible with a pool of virtual cash. In an S&P 500 game for example contestants construct a portfolio of stocks in the S&P 500. Once the match has begun players may adjust their portfolio to increase performance. All games are day trades because none extend into the next trading period. During the tournament users can check their fantasy trading portfolios to see how they are performing and compare their performance in contrast to the “benchmark”.

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The “benchmark” informs the player whether they are “in the money” or “out of the money”. “In the money” is defined as if the tournament ended at that moment they would receive a reward and “out of the money” means they would lose. The “benchmark” also displays the quantity of prizes being awarded in the tournament. One significant note however is that users cannot be awarded prizes in the free tournaments unless they have a funded account with UMOO. Tournaments that are not free require “fees”. These “fees” are usually a portion of what rewards could be rewarded such as a five dollar competition will usually have a ten to twenty dollar prize.

The alternative variety of match is called a PIX game. PIX tournaments are only ten to thirty minutes in duration and necessitate the player to choose the one, two, or three best performing symbols from a specific list. For example, in a Forex PIX match the contestant may have to choose the best performing currency from a list of three. UMOO may make available USD/CHF, EUR/USD, and USD/JPY with a beginning time and ending time. The player can win if they choose the currency pair with the maximum return during those ten minutes. In a PIX competition traders compete exclusively against the market versus a tournament where they compete against other traders. All PIX games have fees and the risk reward ratio is about 2 to 1.

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Bottom Line: If you are seeking fun with trading financial tickers and limited risk, fantasy trading on UMOO can be fun and financially rewarding.

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