Investment Strategy: Selective BUY

Market Outlook: Choppy in range but overall sentiment still positive Overall sentiment remains positive on the external front while other factors are little changed. In the absence of fresh cues, we believe there is a lack of ammunition for a sustainable rally in the composite SET index. Thai stocks are therefore likely to be range-bound but have an upside bias while the market is waiting for fresh catalysts to play on. This week, focus will turn to US economic rescue measures, more stimulus measures at home to be proposed to economic ministers for consideration this Wed, and optimism over possible end-of-quarter institutional window-dressing.

Factors affecting the market:
- US stocks plunged 122.42 points last Friday, as the Federal Reserve's plan to rekindle consumer and small business lending fell short of expectations after investors applied for less than 2.5% of the US$200b the Fed pledged to lend through a program considered key to reviving ailing banks, and economic bellwether and Dow component General Electric was hit by analysts' bearish comments, lowering 2009 profit forecasts.
- NYMEX crude settled down 55 cents or 1.07% at US$51.06/barrel last Friday as weaker euro and the stock market seemed to have invited profit taking in the oil markets
- Thailand's Finance Ministry revised down its 2009 GDP growth forecast and expected the economy to contract by 2-3% as global financial losses might double from US$1.1 trillion to US$2.2 trillion.
0/- The Fiscal Policy Office was studying the possibility of an increase in telecom excise tax from the current zero, Thai newspaper Daily News quoted a source at the Finance Ministry saying. Excise tax on mobile phone services might be raised back to the previous levels at 10% of revenues, while excise tax on fixed line services would be 2%.

Daily Forex Forcast Outlook & Webinar

Free Forex Webinar

Who: "Forex Joe", Forex Trading 'Insider' and Expert Trader

What: "How To Master The Forex in Four Easy Steps" webinar

When: Thursday, February 26, 2009 at 9:00 PM EST

Where: Online Click Here to Register

Daily Forex Forecast Outlook February 24, 2009

The March Dollar was lower overnight as it consolidates some of Monday's rally. Stochastics and the RSI have turned bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 86.50 are needed to confirm that the rally off December's low has come to an end. If March renews last week's rally, November's high crossing at 89.74 is the next upside target. First resistance is last Wednesday's high crossing at 88.57. Second resistance is the reaction high crossing at 88.71. First support is the 20-day moving average crossing at 86.50. Second support is Monday's low crossing at 85.81.

The March Euro was higher overnight due to short covering as it consolidated some of Monday's decline. Stochastics and the RSI have turned bullish signaling that a short-term low might be in or is near. Closes above Monday's high crossing at 129.890 are needed to confirm that a short-term low has been posted. If March renews the decline off December's high, November's low crossing at 123.630 is the next downside target. First resistance is the 20-day moving average crossing at 128.515. Second resistance is Monday's high crossing at 129.890. First support is last Wednesday's low crossing at 125.080. Second support is November's low crossing at 123.630.

The March British Pound was higher overnight as it extends Monday's rally above the 20-day moving average crossing at 1.4412. Stochastics and the RSI are turning bullish signaling that a short-term low might be in or is near. Closes above the reaction high crossing at 1.4604 are needed to confirm that a short-term low has been posted. If March renews this month's decline, the reaction low crossing at 1.4044 is the next downside target. First resistance is the reaction high crossing at 1.4604. Second resistance is Monday's high crossing at 1.4660. First support is last Wednesday's low crossing at 1.4090. Second support is the reaction low crossing at 1.4044.

The March Swiss Franc was higher overnight due to short covering as it consolidated some of Monday's decline. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. Closes above Monday's high crossing at .8728 are needed to confirm that a short-term low has been posted. If March renews this year's decline, the 87% retracement level crossing at .8370 is the next downside target. First resistance is Monday's high crossing at .8728. Second resistance is the reaction high crossing at .8778. First support is last Friday's low crossing at .8416. Second support is the 87% retracement level crossing at .8370.

The March Canadian Dollar was higher overnight and trading above the 10-day moving average crossing at 79.88. Stochastics and the RSI are turning bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 80.65 would temper the near-term bearish outlook. Closes above the reaction high crossing at 82.48 are needed to confirm that a short-term low has been posted. If March renews this month's decline, January's low crossing at 78.30 is the next downside target. First resistance is the 20-day moving average crossing at 80.65. Second resistance is the reaction high crossing at 8 1.44. First support is last Tuesday's low crossing at 78.88. Second support is January's low crossing at 78.30.

The March Japanese Yen was sharply lower again overnight and is trading below January's low crossing at .10567. Stochastics and the RSI are oversold but remain bearish signaling that sideways to lower prices are possible near-term. If March extends this week's decline, the 50% retracement level of the August-January rally crossing at .10333 is the next downside target. Closes above the 20-day moving average crossing at .10942 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at .10795. Second resistance is the 20-day moving average crossing at .10942. First support is the overnight low crossing at .10446. Second support is the 50% retracement level crossing at .10333.

Major Advantages of Trading in Forex includes

1. Extremely Liquid Market
2. 24 Hour Market
3. Good Trading Opportunity
4. Familiarity
5. Value Of Currency
6. Margin Trading
7. Variety Of Order Types Eases Trading
8. Forex vs Futures
9. Forex vs Equities
1. Extremely Liquid Market

With daily traded volume of up to 2.5 trillion on a single day, Forex market is extremely liquid. Concerns should be only limited to whether your market view is correct. If the price level you wish to trade is the current market rate, you can be assured that your order will be completely filled. No worries on partial fill or market depth, due to the high daily traded volume. Trade the currency at your desired price.

Being the largest financial market, you can be rest assured that there will be no manipulation to the market as no single entity can manipulate the market in any direction.
2. 24 Hour Market

Trade anytime you want to with Forex as its open 24 hours, 5 days a week. No market opening or closing, restricting your momentum in trades.
3. Good Trading Opportunities

For traders keen to leverage on the forex market, a daily range of 50 to 300 pips worth of trading opportunities is available for intraday traders.
4. Familiarity

Forex trading is not something unfamiliar to everyone. All of us do currency conversions at some point in our life. Important factors to understand the behavior of forex are, what constitutes to the strength or weakness of the currency. Is it determined by strength of economy? Demand and supply? So, understanding of the forex market is not something difficult.
5. Value of Currency

Consider the risk of a company’s stocks collapsing vs. the risk of a country’s currency collapsing. It should be obvious that currency is a more stable form of investment for trading.
6. Margin Trading

With margin trading, you can trade $100,000 worth of contracts with only $2,000 to $4,000. Yet, the trading opportunity is based on the actual contract size. With a smaller capital outlay, you can free up your cash for other forms of investments or usage.
7. Good Variety of Order Types

Though some traders are concerned that market will slip away while they are resting, causing sleepless nights, the variety of order types available helps to shorten the hours you need to keep monitoring the market. Use limit, stop loss, OCO orders, with time frame of either day or GTC to help you carry out trade effectively.
8. Forex vs Futures

* Liquidity and Flexibility

The spot Forex market statistically shows in 2006 that the volume traded is a whopping $2.5 trillion daily, making it the largest and most liquid market in the world.
Futures contracts are segregated into different contracts that are exchange traded. Forex contracts on the other hand are OTC. Having greater flexibility ensures higher liquidity to your trades. Your trades will always be done exactly at the number of lots you indicated. They will not be done only partially.

* Delivery/ Tenor of Contracts

The tenor of Futures contract is typically 3 months. Which in practice, buyers of futures contracts are advised to square off their positions at the 1st notice date to enjoy greater liquidity. And if traders wish to continue trading in that particular contract under Futures, they should enter into the next futures contract of 3 months validity. You may need to square off your position at a price level that is not to your advantage.*

Forex trading under Phillip futures, however, provides auto-rollover. This ensures that you only square off your position when you desire, without worrying about contract expiry date.

*Based on all things being equal, you have excess margin to cushion the daily mark to market margin requirements.
9. Forex vs Equities

*

Trading Hours

Foreign exchange trading under Phillip futures provides trading 24hours a day, 5 days a week. The equities market, are relatively less flexible, as trading is at certain time frames, only when the respective markets are open. This provides more liquidity vis a vis the equities market.

* Nature of Trade

Speculative Trading

If traders are actually looking at trades from a speculative point of view, Forex actually provides more room for speculation. Imagine in the case of equities, you can hold short positions only for 1 month under CFDs. To hold beyond a month, your position will be rolled over with a fee involved. Whereas for Forex trading, you can hold on to your short position for as long you wish, through our free auto rollover, as long as your margin requirements allow. This gives the added flexibility of trading.

Investment Trading

Under shares trading, there is a substantial chance that a company may fold/go belly up. But under Forex trading, if you're looking at currency appreciation, you are basing your investment on the country's fundamentals.

Trading in shares, you're investing in the financial strength and prospect of the company. It entitles you certain percentage of shareholding in the company. Should the company perform badly, your shares become relatively low in value. Trading in forex, you're investing in the economy of the country. It entitles you to money itself. The currency you're investing in is backed up by a whole country's economy. The risk you bear is sovereign risk.

* Margin Trading

Under equities trading, you can do contra (margin trading for 3 days), or CFD (margin trading for a month). Under Forex trading, its margin all the way. Leverage on the margin. Provide only the maintenance margin required for your necessary trades, and free up your cash. From another point of view, leverage trading will allow you to maximize your trading opportunities.

Stock Markets

Nifty Has Resistance At 4083 - 4131: Abhishek Jain, StocksIdea.com


After opening with a gain of 45.66 points, at 13,803.12 on Friday, the Sensex ended the day on a weak note led by oil & gas, power, capital goods and realty stocks.

However, IT stocks managed to trade in the positive terrain.

During the first half, the stocks witnessed a sea-saw trend, and the Sensex hit an intraday high of 13,897.19. Later, the index fell into the negative zone in the second half owing to heavy selling action pressure across index heavyweight and touched a low of 13,418.39 during the low.




Sensex loses 253 pts on domestic concerns

After exhibiting sea-saw movement, the domestic market finally nosedived during final trading hours to close in red terrain.

The weakness in market, mainly witnessed due to severe selling pressure led by concerns over the economy and poor monsoons.

The BSE Sensex closed lower by 253.24 points or (1.84%) at 13,504.22 while NSE Nifty ended down by 77.05 points or (1.89%) at 4,003.90. The BSE Sensex touched intraday high of 13,897.19 and intraday low of 13,418.39.


Thai stocks down 2.74 per cent on profit-taking

Bangkok - Thai shares lost 2.74 per cent in value Friday on a wave of profit-taking, prompted in part by worries about political instability, analysts said.

The Stock Exchange of Thailand (SET) index ended at 566.03, down 15.96 points or 2.74 per cent.

"Institutional investors were selling, which prompted local investors to take profits while they could," Asia Plus Securities analyst Daechakorn Larpudomsuk said.

"Also there are worries about more political instability in coming weeks," he added.



Yen's continued strength sends Tokyo market lower

Tokyo - The Tokyo market saw its eighth-straight day of losses Friday as the yen's strength sent exporters' stocks down.

The Nikkei 225 Stock Average edged down 3.78 points, or 0.04 per cent, to close at 9,287.28.

The broader-based Topix index was also down 1.41 points, or 0.16 per cent, at 872.5.

For the week, the Nikkei fell 5.39 per cent, and the Topix declined 5.23 per cent.


World Market Watch: Nirmal Bang Securities

Most Asian stocks fell, putting the MSCI Asia Pacific Index on course for its second week of declines, as economists Nouriel Roubini and Robert Shiller warned of a prolonged economic slowdown. Mining companies, gained as copper and oil prices climbed in New York.

Leaders of the world's biggest developed and emerging nations avoided a debate over the dollar's role in the global economy as they agreed not to devalue their currencies to promote their exports.

Strengths of the Forex Grid System

Forex trading strategies pressure domicile, you ‘ re ready to returns on the currency markets. Your charts are set up, your indicators and oscillators are pulsating and your trend commodities have decidedly pronounced the street price will hardihood. You enter your trade confident of carving up 20 pips or massed before lunch.

Being is prime.

Adjacent corporeality you comprehend, price has shot garrote significance the reverse direction and any more your cutoff loss is taken out for a hefty loss. You sit masterly stunned and request yourself, ” What pure happened? “.

The answer is that the mart obviously got some latest dossier to revise its expectations. That news could keep come from manifold sources – a predomination economic report, the veiled utterance of a central banker at a press meeting, some now statistics on a country ‘ s exports…

Factors compatible as these have a direct magnetism on the sentiment on marketplace players. These players are the whopper guns of the foreign exchange markets – the banks and trading companies who routinely trade billions of dollars daily.

If you appetite to trade on the side of these players ( and appear as aware that the antithesis side is proclaimed now the ‘ dumb chips ‘ ), you requirement to stack up hush up the corresponding news releases because they see to. Accordingly when the husky boys change, you ‘ re ready to moxie lock up them.

But how discharge you get ready this mislaid being an economics graduate shelter a rabid monetary news feed?

You ‘ ll embody glad to perceive positive ‘ s far simpler than you might assume.

The elementary portion you requisite to sense which among the scores news items released log will significantly turn the forex markets. Various costless forex note websites suggestion this thoughtful of info.

Since you have to recognize when to place your game. Sometimes incarnate ‘ s terrific to part your set head of the scandal. Sometimes heartfelt ‘ s more select to wait since the announcement to shift the marketplace and since enter hole up a trade when the bazaar has hardboiled down into a trend.

The trick is to notice which news releases to handle which projection to. But this is far from being whiz science. Reputation fact present ‘ s something you blame proficient consequence a matter of hours and which importance boost your forex trading contact notably.

Forex Trading Strategies are crowded and varied. Hence if you ‘ ve ring in fx trading hard, regarding into incorporating trading the news into your system. Corporeal might express true the key you ‘ ve been looking for.

Free Forex Trading System – Make Big Profits in 15 Minutes a Day!

Here we will look at a Forex trading which is very simple to understand and easy to make money with. We will give you all you need to know about this system in this article and how you can use it for currency trading success…

The Free Forex trading system we are going to look at only has one rule and was devised by trading legend Richard Donchian. The system takes advantage of a simple 4 week cycle which occurs in currencies – Let’s look at the rule and its this:

Buy any break to a new 4 week high in a currency and hold it. Simply wait for a new 4 week low to be hit and sell it. Keep doing this as 4 week highs and lows are hit and always maintain a position in the market.

It’s incredibly simple but if you test it works and will get you in on all the biggest trends and help you hold them. Breakout trading is logical and always works, as markets always trend in addition, all new trends start and continue from new market highs and lows.

This system has been used by some of the best professional traders and while it’s simple, that’s an advantage in Forex trading as all the best systems are.

Today, you will see a huge amount of Forex robots and Expert Advisors sold online which claim they can make you money but this system, over the long term will beat them all. Even better our Free system has a real track record, while the new trendy robots just have simulations and back tests on paper so before you spend your money on one of these systems, test this great free one.

The system can trade any financial market not just currencies and works best on a spread of currencies and other financial instruments. You can also restrict drawdown, by adding exit filters based on either a one or two week moving averages.

The system doesn’t trade much and it gives you a simple objective signal you follow which will take no more than 15 minutes a day to check. This system is simple, logical, time efficient and can help you enjoy currency trading success.

It’s free of course, so you have nothing to lose by taking a look at it; check it out and see for yourself.

Online Forex Trading Course

If you are interested in forex trading I think it is time for you to start off by getting some good forex course or forex training. Forex Trading Course is a necessity for everybody who interested in this field. As you knew there are a lot of money is involved in this business. If we don’t have some forex trading knowledge or experiences that supposed we got from forex training, I am sure we will lose a lot of money. May be some of us not even know what is forex trading. Forex that stands for foreign exchange is basically exchange of currency between various countries. By doing this we hope gain some profit.

To get forex trading course we can go through online and search from various online forex course. We can also get forex trading course from our local college campus.

Online Trading Academy is well-known as an online services that offering forex trading course. Their online trading course is free and contains with many video tutorial that really helpful both for beginner and professional who want to get more knowledge in forex trading. I think their website is full with tools that we need if we want to involve in forex business. Online Trading Academy is also has every resource that we need whether in forex market, stocks and options. It is hard to find website that provide some kind of source that relatively complete for us.