Forex Crunch

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Trading on a Website or Using Software? Posted: 23 Jul 2009 02:59 AM PDT Some people prefer trading on a web site, while others download a desktop software for making their trades. Each option has advantages and disadvantages. I think the web will take over online forex. Calling the dealer to make a trade is something that still exists, but people rarely use it. Getting on the phone with the dealer takes more time than making the trade via the computer. It’s also prone to errors. Traders do it only when they have no other choice. Online forex is growing, and most trades are done electronically. We’re connected to the Internet almost everywhere. We can see the graphs, account positions and everything via the web. And here comes the question. What is better:  a website or a desktop software? Traditionally, the answer would be a desktop software. They are usually faster and they also allow richer features. Web sites usually respond more slowly, and used to be limited. Nowadays, in the Web 2.0 era, Internet  sites have much richer features. The wide use of AJAX technologies makes, and improved javascript makes sites load fresh data faster, and allow a rich interaction. Since forex trading can be done all the time, the web has another advantage: it’s available everywhere and doesn’t require any installation. Some work places don’t allow installing certain software. Others block the ports which are used by the desktop software to access the data on the brokers’ sites. For forex brokers, a web platform is more convenient as well: they don’t need to ask their clients to install new versions - they just update the website. So, with richer Internet sites, and with forex trading growing, I’m expecting that more and more forex traders will move to the web.

Forex Daily Outlook - July 23rd 2009 Posted: 22 Jul 2009 02:00 PM PDT Busy day today with American Existing Home Sales and Unemployment Claims dominating the scene. Also note the British Retail Sales. And there’s lots more. Let’s see what’s on the menu: In Australia, RBA Assistant Governor  Dr. Guy Debelle will speak also today, and might move the Aussie. European Current Account is predicted to remain negative, but with a smaller deficit - 2.7 billion. Later in Europe, the Belgium NBB Business Climate is expected to show a small improvement, rising from -23.6 to -21.3. Still negative. In Britain, all eyes will look at the monthly Retail Sales. They’re expected to rise by 0.4% after falling last month. This figure is quite volatile. Also in Britain, the important BBA Mortgage Approvals is predicted to keep on the good momentum and rise from 31.2K to 32.3K. For more on GBP/USD, check out the British Pound Outlook. In the US, finally there’s a significant figure and not only words… Unemployment Claims are predicted to rise again, from 522K to 548K, after improving recently. Existing Home Sales are expected to continue rising, as American Housing is off the bottom - from 4.77 million to 4.80 million. Also in the US, Federal Reserve Governor Daniel Tarullo will speak. In Canada, the qaurterly BOC Monetary Policy Report is published today and will give some insight on the Canadian economy and for future interest rate changes. After the release, BOC Governor Mark Carney will hold a press conference, and might receive tough questions. For more on USD/CAD, read the Canadian Dollar Outlook. Happy forex trading!

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