The market goes down, but Yalicoo traders returns go up
June 9, 2008
Stocks plunged last Friday after a record surge in unemployment rates and oil prices in addition to continued credit concerns. The government reported that the unemployment rate rose to 5.5% in May from 5.0% in April, marking the biggest one-month spike in over 20 years. Crude oil surged $10 to set a new record of $139 a barrel on the New York Mercantile Exchange. The surge followed a prediction by Morgan Stanley analysts that oil would reach $150 a barrel by July 4.
Despite the markets negative trend at the end of the week, Yalicoo’s traders continue to realize positive returns. Agent (20.50%) is leading the
quarterly competition after having a great week, during which he sold most of his stocks with a positive gain.
Sixpence and wOrStCaSe are still in the race as we are getting closer to the final weeks of the quarter. Thus, while during last week the DOW Jones, S&P and the NASDAQ, all demonstrated a downward trend, Yalicoo’s leaders continued reversing this trend in their own portfolio, enabling the other participants make adjustments to their “real” investments.
While winning the
quarterly competition is profitable, there are also other excellent reasons to participate in this competition. The three leaders usually participate in every quarterly competition, so other participants can learn from their moves every quarter. Remember that trading in Yalicoo is almost exactly as real trading, which means that replicating these trades to your real portfolio could possibly boost your returns. This quarter is about to end and the next quarterly competition will follow. We think that the quarterly competition is one of the best ways to improve your trading skills, so
we are offering you a 50% discount when registering for the next quarterly competition which begins July 1st.
FieldGoals (8.06%), who seems to base his portfolio on energy stocks, is currently leading the
monthly competition.
EM (6.04%) is close behind with most of his current portfolio stocks showing a downward trend and he is, probably waiting for a rebound next week. The volatility of the market makes the competitions much more interesting as the traders need to correctly time their entrance points to the market. As did
fieldGoals, several other traders have chosen to empty their portfolio for a few days from time to time, predicting that the market will shrink its value. By watching other trader's positions and moves, you can figure out their strategy and quite expectedly plan your own next winning move.
How to invest in the FOREX market
The foreign exchange (FOREX or FX) market is the market where currencies of different countries are bought and sold. In other words- FOREX is the simultaneous purchase and sale of one country's currency trading it for the currency of another country. The world currencies do not have a fixed exchange rate and are always fluctuating as they are traded in currency pairs such as Euro/Dollar, Dollar/Yen and others. In case you foresee that one currency will become higher in value than another, you can exchange the second one for the first one and wait for the profit. If you see the trades following your forecast you can make an opposite transaction and exchange currencies back and gain the profit.
The FOREX market is an enormous market with an estimated 2 trillion dollars changing hands every day. Traders in the foreign exchange market make thousands of trades daily by buying and selling currencies while exchanging market information. The FOREX market is a very volatile and risky investment option if you do not have enough knowledge and an appropriate trading strategy; you must have a sound management strategy, know why you enter into a trade, determine a stop loss point (which means deciding when to sell in order to cut losses), and it is frugal to also have a profit taking level. Also, in order to be a better trader, your trading decisions should be free of emotions, such as greed or fear. Thus, in order to become a successful FOREX trader, it is crucial to practice and build a solid trading strategy.
eToro is an interactive and creative approach to online foreign exchange trading which can assist you in practicing FOREX trading while building your solid strategy. It can teach you how to avoid trading mistakes and improve your chances of reaching higher returns in the FOREX market.
Yalicoo’s Happy Thursday (see below) gives you a FREE opportunity to play in the Yalicoo competition and also benefit from eToro’s services to learn and profit from the FOREX market.
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