Live Forex Trading Room Proforexroom.com Includes New FX Pairs

April 18, 2010 - PRLog -- Live trading room proforexroom today announced additional currency pairs to its trading room. PFR offers a live trading room for Forex traders and Forex signals service for members. The majority of trades are made in the traditional main currency pairs such as the four majors but we have added additional FX pairs due to popular demand PFR said today.Live trading room proforexroom today announced additional currency pairs to its trading room. PFR offers a live trading room for Forex traders and Forex signals service for members. The majority of trades are made in the traditional main currency pairs such as the four majors but we have added additional FX pairs due to popular demand PFR said today.

"We have tended to shy away from the exotic currency pairs http://www.easy-forex.com/ExoticCurrencies.aspx such as Thai baht or the Czech koruna http://en.wikipedia.org/wiki/Czech_koruna and have focused on the seven most liquid currency pairs in the world, which are the four majors:

EUR/USD (euro/dollar)
USD/JPY (dollar/Japanese yen)
GBP/USD (British pound/dollar)
USD/CHF (dollar/Swiss franc) and the three commodity pairs:
AUD/USD (Australian dollar/dollar)
USD/CAD (dollar/Canadian dollar)
NZD/USD (New Zealand dollar/dollar)

These currency pairs, along with their various combinations (such as EUR/JPY, GBP/JPY and EUR/GBP) account for more than 95% of all speculative trading in FX. " PFR said today.
What is carry?

When asked about carry trading PFR responded "We don't do carry trading in our proforex live trading room or offer carry trading strategies in our signals service". Carry is the most popular trade in the currency market, practiced by both the largest hedge funds and the smallest retail speculators. The carry trade rests on the fact that every currency in the world has an interest rate attached to it. These short-term interest rates are set by the central banks of these countries: the Federal Reserve in the U.S., the Bank of Japan in Japan and the Bank of England in the U.K. http://en.wikipedia.org/wiki/Central_banks ... members tend to like swing trading intraday and daytrading using scalping and hedging strategies."

But, What's the idea behind carry? Wouldnt it be worth offering to members?

PFR responded: "The idea behind the carry is quite straightforward. The trader goes long the currency with a high interest rate and finances that purchase with a currency with a low interest rate. During 2005, one of the best pairings was the NZD/JPY cross. The New Zealand economy, was buoyed by huge commodity demand from China , rising housing market, has seen its rates rise to over 7% and stay there, on the other hand Japanese rates have remained at 0%. A trader going long the NZD/JPY could have harvested 725 basis points in yield alone. On a 10:1 leverage basis, the carry trade in NZD/JPY could have produced a 72.5% annual return from interest rate differentials alone without any contribution from capital appreciation. Now you can understand why the carry trade is so popular! But before you rush out and buy the next high-yield pair, be aware that when the carry trade is unwound, the declines can be rapid and severe. This process is known as carry trade liquidation and occurs when the majority of speculators decide that the carry trade may not have future potential. With every trader seeking to exit his or her position at once, bids disappear and the profits from interest rate differentials are not nearly enough to offset the capital losses. Anticipation is the key to success: the best time to position in the carry is at the beginning of the rate-tightening cycle, allowing the trader to ride the move as interest rate differentials increase... Essentially though our Forex services and education information are based on short term, quick in and out trading strategies"

FX Jargon ... How easy is it for members new to Forex to understand your products say, your live trading room?

"FX Jargon is not that complicated, in fact currency trading is easy to pick up the terminology" PFR said. Cable, sterling, pound - alternative names for the GBPGreenback, buck - nicknames for the U.S. dollarSwissie - nickname for the Swiss francAussie - nickname for the Australian dollarKiwi - nickname for the New Zealand dollarLoonie, the little dollar - nicknames for the Canadian dollarFigure - FX term connoting a round number like 1.2000Yard - a billion units, as in "I sold a couple of yards of sterling. Our trading room will have support if there are any questions from traders about the Forex trading strategies and systems being employed."

PFR went on to further add that the new currency pairs in the trading room pool are being traded from Monday 19th April, 2010.

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Proforexroom http://www.proforexroom.com is a live trading room and Forex signals provider to the retail market. We offer a range of services including automated trading systems for metatrader MT 4 and coding of expert advisors, EA coding and programming, systems design and development. We also offer automated portfolio management and managed accounts, managed account platform as an alternative investment strategy for superannuation funds and 401k accounts. Clients are worldwide from Europe, Italy, UK, Asia, Hong Kong, China, Australia, New Zealand, South Africa and Middle East and trade a variety of instruments including: Forex through the proforexroom, ITFX Capital Management products and services portfolio.