A popular high -end image editor for the Macintosh and windows from Adobe. The original Mac versions were the first to bring affordable image editing down to the personal computer level in the late 1980s. Since then, Photoshop has become the defacto standard in image editing. Although in contains a large variety of images editing features, one of Photoshop's most powerful capabilities is layers, which allows images to read from and convert to a raft of graphics formats, but uses its own native format for layers (.PSD extension). See Photoshop plug-in and Photoshopped.
Layers Are Often Essential
It would be extremely difficult to develop the CD-ROM jewel case cover below without layers. If only one layer were availble, each and every image element would have to be aligned perfectly on top of the existing image. There would be no way to change the placement because each piece becomes merged into a single bitmapped image, replacing what was previously there. Without having all elements in view and being able to move them around in different ways, it would be virtually impossible to derive the most pleasing effect.
Friday, November 5, 2010
WEB - World Wide Web
The world Wide Web (commonly shortened to the web) is a system of interlinked hypertext documents accessed via the internet. With a Web Browser, a user views web pages that may contain text, images,videos,and other multimedia and navigates between them using hyperlinks. The World Wide Web was created in 1989 by Sir Tim Berners-Lee, working at the Erupoean Organization for Nuclear Research(CERN) in Geneva, Switzerland and released in 1992, Since then, Berners-Lee has played an active role in guiding the development of web standards (such as the markup languages in which web pages are composed), and in recent years has advocated his vision of a Semantic Web.
Viewing a Web pages on the World Wid Web normally begins either by typing the URL of the page into a Web browser, or by following a hyperlink to that page or resource. The web browser then initiates a series of communication messages, behind the scenes, in order to fetch and display it.
First, the server-time portion of the URL is resolved into an IP address using the global, distributed internet database known as the domain name system, or DNS. This IP address is necessary to contact and send data packets to the Web server.
The browser then requests the resource by sending an HTTP request to the Web server at that particular address. In the case of a typical Web page, the HTML text of the page is requested first and parsed immediately by the Web browser, which will then make additional requests for images and any other files that form a part of the page. Statistics measuring a website's popularity are usually based on the number of 'pages views' or associated server 'hits', or files requests, which takes place.
Having recieved the required files from the Web server, the browser then renders the page onto the screen as specified by its HTML,CSS, and other web languages. Any images and other resources are incorporated to produce the on-screen Web page that the user sees.
Most Web pages will themselves contain hyperlinks to other related pages and perhaps to downloads, source documents, definitions and other web resources. Such a collection of useful, related resource, interconnected via hypertext links, is what was dubbed a "web" of information. Making it available on the internet created what Tim Berners-Lee first called the WorldWideWeb ( a term written in CamelCase, subsequently discarded) in 1990.
Viewing a Web pages on the World Wid Web normally begins either by typing the URL of the page into a Web browser, or by following a hyperlink to that page or resource. The web browser then initiates a series of communication messages, behind the scenes, in order to fetch and display it.
First, the server-time portion of the URL is resolved into an IP address using the global, distributed internet database known as the domain name system, or DNS. This IP address is necessary to contact and send data packets to the Web server.
The browser then requests the resource by sending an HTTP request to the Web server at that particular address. In the case of a typical Web page, the HTML text of the page is requested first and parsed immediately by the Web browser, which will then make additional requests for images and any other files that form a part of the page. Statistics measuring a website's popularity are usually based on the number of 'pages views' or associated server 'hits', or files requests, which takes place.
Having recieved the required files from the Web server, the browser then renders the page onto the screen as specified by its HTML,CSS, and other web languages. Any images and other resources are incorporated to produce the on-screen Web page that the user sees.
Most Web pages will themselves contain hyperlinks to other related pages and perhaps to downloads, source documents, definitions and other web resources. Such a collection of useful, related resource, interconnected via hypertext links, is what was dubbed a "web" of information. Making it available on the internet created what Tim Berners-Lee first called the WorldWideWeb ( a term written in CamelCase, subsequently discarded) in 1990.
Web hosting
What is Web Hosting
What exactly is web hosting?- in a nutshell, web hosting is a like a folder or directory on your on your computer, except it's on a computer that's connected to the Web 24 hours a day, 7 days a week. And anyone on the web can read what you put in it. To use a web host, you put yourt you r files in your space on the web host. Vistors can find your files by going to your web address (called a URL) When a vistor makes a request to your URL, a web server "hears" that request and gets the files from the disk where your website lives , and shows them to the visitor. If you want to creat a simple web page, or build a massive web store like Amazon's, you need web hosting.You build your pages using a web language like HTML, build your scripts (programs) using a sever language like PERL or C#, and then you upload everything to your web host, tweak some values for your scripts (if you have scripts) and voila...your live.(That's a very, very simplified answer.)
Web hosting comes in different shapes and sizes.Which flavor is best for you depends on what you are trying to do; on what your "application" is. The major categories are :Shared Web Hosting, Virtual private Hosting and Dedicated Hosting.
What exactly is web hosting?- in a nutshell, web hosting is a like a folder or directory on your on your computer, except it's on a computer that's connected to the Web 24 hours a day, 7 days a week. And anyone on the web can read what you put in it. To use a web host, you put yourt you r files in your space on the web host. Vistors can find your files by going to your web address (called a URL) When a vistor makes a request to your URL, a web server "hears" that request and gets the files from the disk where your website lives , and shows them to the visitor. If you want to creat a simple web page, or build a massive web store like Amazon's, you need web hosting.You build your pages using a web language like HTML, build your scripts (programs) using a sever language like PERL or C#, and then you upload everything to your web host, tweak some values for your scripts (if you have scripts) and voila...your live.(That's a very, very simplified answer.)
Web hosting comes in different shapes and sizes.Which flavor is best for you depends on what you are trying to do; on what your "application" is. The major categories are :Shared Web Hosting, Virtual private Hosting and Dedicated Hosting.
Team viewer
This is Remote Desktop sharing - Remote Access-Support
TeamViewer establishes connections to any PC or server all around the world within just a few seconds.You can remote controle your partner's PC as if you were sitting right in front of it. Find out why more than 15.000.000users trust TeamViewer!
Simple-fast-secure. The one-stop solution for desktop sharing
TeamViewer is the fast, simple and friendly solution for remote access over the Internet - all applications in one single, very affordable module:
Remote access to PCs and server via Internet
Instantly take control over a computer anywhere on the internet,even through firewalls.No installation required, just use it fast and secure.
Training, sales teamwork
TeamViewer can also be used to present your desktop to a partner on the Internet - great for team collaboration, trainings and sales presentations.
Files transfer, chat and more
Share your files,chat,switch the direction during a teamwork session, and a lot more is included in TeamViewer.
TeamViewer establishes connections to any PC or server all around the world within just a few seconds.You can remote controle your partner's PC as if you were sitting right in front of it. Find out why more than 15.000.000users trust TeamViewer!
Simple-fast-secure. The one-stop solution for desktop sharing
TeamViewer is the fast, simple and friendly solution for remote access over the Internet - all applications in one single, very affordable module:
Remote access to PCs and server via Internet
Instantly take control over a computer anywhere on the internet,even through firewalls.No installation required, just use it fast and secure.
Training, sales teamwork
TeamViewer can also be used to present your desktop to a partner on the Internet - great for team collaboration, trainings and sales presentations.
Files transfer, chat and more
Share your files,chat,switch the direction during a teamwork session, and a lot more is included in TeamViewer.
W3 schools
W3 Schools - Valuable WebSite to help learn different computing languages .
The w3schools website was created in 1989 when the company Refsnes Data made the decision to quit their jobs and start an internet Developers Portal. The main idea that was at the basis of this portal was that the services provided will be completely free. The team is still doing their best to keep it that way. This website provides anyone with very useful information about web site programming. The information on this web site is one of the most accurate on the internet concerning this feild, this being proven by all the good reviews that the website recieves on its forum. The free tutorials that w3schools provide include HTML tutorials, XML tutorials, Browser scripting, server scripting, NET tutorials, Multimedia and Web Building information.
The money needed to cover the expenses of runing this site, such as writing the tutorials, is covered by sponsors. However, the goal of the Refsnes team is not to cover you up in advertisements and that is why they always thry to keep the number of ads as low as possible. The team's mission is to develop throughly organized and easy to understand tutorials that are based on the W3C web standards. However, Refsnes Data is a company that cares a lot about its members work and that is why everyone should understand that all pages and graphics found on the web site are strictly in the company's property. Thus , it is very important to note that the reprodution in any shape or form of pages, codes or other information from w3schoola is a violation of copyright laws. How to link to 23schools.com? it is possible for any web site to link to any of the pages of w3schools and in order to have the right embed pages in a frame it is required that you have the written permission of Refsnes Data.
Before linking to w3schools.com you have to be aware of the fact that this site does not provide warranties of any kind. Thus, there are no guarantees whatsoever that while using this web site you won't be suffering any interruptions. Its is also important to note that all the risks (direct ot indirect) related to the use of the w3schools website are borne entirely by the user. There are also no guarentees that the data provided is completely flawless that is one of the ways the company is trying to keep the site up to date and containing as little errors as possible for a free tutorial web site.
As the website has been designed to be of completely free help for everyone intrested to learn more about computer and internet programming, you have to understand why the company chose to limit the use of the information provided only to those users who choose to be online for the entire duration of information usages.
The w3schools website was created in 1989 when the company Refsnes Data made the decision to quit their jobs and start an internet Developers Portal. The main idea that was at the basis of this portal was that the services provided will be completely free. The team is still doing their best to keep it that way. This website provides anyone with very useful information about web site programming. The information on this web site is one of the most accurate on the internet concerning this feild, this being proven by all the good reviews that the website recieves on its forum. The free tutorials that w3schools provide include HTML tutorials, XML tutorials, Browser scripting, server scripting, NET tutorials, Multimedia and Web Building information.
The money needed to cover the expenses of runing this site, such as writing the tutorials, is covered by sponsors. However, the goal of the Refsnes team is not to cover you up in advertisements and that is why they always thry to keep the number of ads as low as possible. The team's mission is to develop throughly organized and easy to understand tutorials that are based on the W3C web standards. However, Refsnes Data is a company that cares a lot about its members work and that is why everyone should understand that all pages and graphics found on the web site are strictly in the company's property. Thus , it is very important to note that the reprodution in any shape or form of pages, codes or other information from w3schoola is a violation of copyright laws. How to link to 23schools.com? it is possible for any web site to link to any of the pages of w3schools and in order to have the right embed pages in a frame it is required that you have the written permission of Refsnes Data.
Before linking to w3schools.com you have to be aware of the fact that this site does not provide warranties of any kind. Thus, there are no guarantees whatsoever that while using this web site you won't be suffering any interruptions. Its is also important to note that all the risks (direct ot indirect) related to the use of the w3schools website are borne entirely by the user. There are also no guarentees that the data provided is completely flawless that is one of the ways the company is trying to keep the site up to date and containing as little errors as possible for a free tutorial web site.
As the website has been designed to be of completely free help for everyone intrested to learn more about computer and internet programming, you have to understand why the company chose to limit the use of the information provided only to those users who choose to be online for the entire duration of information usages.
Forex trading as a Business
We all have our personality quirks. My quirk is collecting quotes. I have quotes in my trading log, in my success notebook (I will discuss this in another post) and even in my golf bag. One of my favorite quotes is "Act as if" Act as if means that while you are in training to be a successful currency trader (my definition is one that makes consistent profits no matter the lots size being traded) you have to act as if you were already a successful forex trader.
So I began following and speaking with successful retail spot currency traders to gleam some insight into the characteristics of successful forex trading. Unlike those dentist commercial were 9 out of 10 recommends a product, 100% of all the forex traders I have spoken with said treating their forex trading as if it were a business was a key component of there success formula. In addition to merely treating their activities as a business, that their trading was done through a legal business structure. Businesses have plans, projections, profits target and capital spending; and so should your trading. All the FX traders I emulate trade through corporate entities, and now so do I!. If that is the path to success, then I am going down that road also and TRADE as if I were a business with all the planning aspects and legal framework associated with that action.
The tax code in the United States is generally established to collect tax from the employees of businesses and not the business themselves. Case in point, we as individual tax payers pay our taxes THEN expenses with after tax dollars. The business pays for expenses and THEN is taxed on the remaining amount (if any). Forex trading through a business entity makes sense from a tax standpoint; after all it is my business!
I am not a legal or tax professional, but I discovered that of the many structures to becoming a legal entity that there was one that fit the bill of turning my forex trading into a business perfectly; the Limited Liability Company, as a matter of fact I trade with my broker and educational company, FX-TRAINER, as an LLC.
So I began following and speaking with successful retail spot currency traders to gleam some insight into the characteristics of successful forex trading. Unlike those dentist commercial were 9 out of 10 recommends a product, 100% of all the forex traders I have spoken with said treating their forex trading as if it were a business was a key component of there success formula. In addition to merely treating their activities as a business, that their trading was done through a legal business structure. Businesses have plans, projections, profits target and capital spending; and so should your trading. All the FX traders I emulate trade through corporate entities, and now so do I!. If that is the path to success, then I am going down that road also and TRADE as if I were a business with all the planning aspects and legal framework associated with that action.
The tax code in the United States is generally established to collect tax from the employees of businesses and not the business themselves. Case in point, we as individual tax payers pay our taxes THEN expenses with after tax dollars. The business pays for expenses and THEN is taxed on the remaining amount (if any). Forex trading through a business entity makes sense from a tax standpoint; after all it is my business!
I am not a legal or tax professional, but I discovered that of the many structures to becoming a legal entity that there was one that fit the bill of turning my forex trading into a business perfectly; the Limited Liability Company, as a matter of fact I trade with my broker and educational company, FX-TRAINER, as an LLC.
Do you have what it takes to become a successful Forex Trader?
Forex trading, or any trading for that matter, is an occupation that requires experience and the accumulation of proficiency not unlike any other highly skilled profession. Whether you are a leading executive at a major publically traded company, a professional golfer or trading from your kitchen table, there are 5 key ingredients that one must possess in order to become successful.
1. You must be Passionate about what you do.
As Forex traders we all face one unique set of circumstances that does not exist in any other profession. We get rewarded for when we succeed and equally punished when we don’t! Could you image a corporate worker one quarter receiving a significant accomplishment bonus and the next quarter actually getting money taken from their paycheck for missing performance targets? Not on your life!
We do as Forex traders and that is why passion for what you do will carry you through the tough times that are part of your trading business. Asked yourself why you trade currencies and would you still do it if Forex were not potentially lucrative? Your answers will be quite revealing. You’ve got to feel your passion for trading!
2. You have to Apply Yourself and work hard at it.
I talk to so many people that enter into Forex trading with the aspiration of getting rich quick. Without putting the time and energy into really getting good at trading I see them jump from strategy to strategy looking for the goose that will lay the golden egg and eventually quitting while blaming everything else, except the true cause.
I got news for you – you are the goose and your Forex education is the golden egg. The magic has always resided with the magician and not some strategy. Work hard at trading and the rewards will eventually come your way. Remember what Tiger Woods said, “Funny, the harder I work the luckier I get.” Apply yourself as a trader and it will be no accident when your account begins to blossom.
3. You must Focus to really get good at what you do.
Now here is the hurdle most Forex traders struggle to get over. You have the passion and you are applying yourself to your trade, now focus and really get good at just at what you are doing. Be the expert to the experts at just that one thing. Become the master of a strategy or risk management methodologies. Really focus on getting good at it.
Stop jumping around or getting pulled from the last “latest and greatest” into the next “latest and greatest” and focus on one aspect of Forex trading and know it inside out. Know it strengths and weakness. Set your sights on becoming expert on just one aspect of trading and watch it spill over in all other aspects for your currency trading. This is the time to fail forward fast, use every setback as a learning opportunity that will propel you 3-steps ahead!
4. You must Push Yourself beyond the point everyone else might have quite.
In Forex Trading this is simple. Assume there is someone on the other side of your trade that is pushing themselves and sharpening their edge. To be successful you must you must do the same thing. Now is the time to examine your mental edge. Do you know the single most critical factor in any currency trade? It is you, the trader! Sharpening you mental edge is the most difficult aspect of trading, but also the most rewarding.
Start with your Forex education and gain the self-awareness necessary to maximize your strengths and suppress your weaknesses. Any expert will tell you that trading is 80% mental. It’s time to sharpen your trading to the razor’s edge and you do this through Forex education. A constant and never ending process that will become the cornerstone of your Forex experience.
5. You must, without wavering, be Determined and Persist to your objective.
You will fail. I can state that emphatically. However, you will not be defeated unless you allow your failures to control your trading. It is the old adage; failure is not falling of your horse, failure is refusing to get back on. Your success depends on your ability to dismiss the criticism, rejection, self-doubt and pressures associated with Forex trading.
Defining what is a winning trade, losing trade and bad trade will go a long way into developing you as a successful trader. Without the determination and persistence in all aspects of your trading life, obstacle will definitely appear closer and larger than they actually are.
Take a moment and assess yourself and your trading. Do you have the key elements to succeed? Which areas are presents development opportunities? When conducting a self-evaluation it is critical to be totally upfront and honest with yourself. After all, you will only be dishonest with yourself. One of the most interesting observations you can make is that all key success factors are interwoven. One factor supports the other. This is why your Forex education is a continuous journey of forex strategy, money management and self-mastery. Set these factors as your Forex education goals and take your currency trading to new heights.
Happy Trading!!!
Trust urself
When you turn on the TV (especially mainstream media) you are inundated with news of the demise of the dollar. Business news, national news and even your local news channels are leading into events with reports of the dollar and the economy. Analysts are featured and opinions are smattered across the airwaves in an attempt to provide an oracle response to current economic events.
Beware the source and follow your system.
In these volatile times it is easy to get caught up in the hype provide by all the news media and analyst. It is natural to want to look for guidance. Remember to trust your system and more important trust yourself. You, after all, are the single largest determinant of your success.
Your approach should remain consistent, almost impervious to the events occurring because you follow your plan with discipline and ruthless detail to executing at optimum performance.
Be disciplined and follow your plan. If market conditions don’t suite your style – sit this one out until conditions provide your with your personal edge!
Happy Trading!!
Beware the source and follow your system.
In these volatile times it is easy to get caught up in the hype provide by all the news media and analyst. It is natural to want to look for guidance. Remember to trust your system and more important trust yourself. You, after all, are the single largest determinant of your success.
Your approach should remain consistent, almost impervious to the events occurring because you follow your plan with discipline and ruthless detail to executing at optimum performance.
Be disciplined and follow your plan. If market conditions don’t suite your style – sit this one out until conditions provide your with your personal edge!
Happy Trading!!
Why the Fed is Such a Lousy Wizard of Oz
Central bankers who "follow the yellow brick road" end up in Jackson Hole, Wyoming, every Labor Day weekend for their annual symposium sponsored by – who else? – the Kansas City Fed. (Who can forget Judy Garland saying to her little dog, "Toto, I've got a feeling we're not in Kansas anymore," in the 1939 movie, The Wizard of Oz?)
The Jackson Hole Resort serves as the Federal Reserve's equivalent of the Emerald City, as Fed governors and presidents meet with central bankers and economists from around the world to discuss economic issues. This year, the symposium focused on housing and monetary policy. Usually, the Fed chairman kicks off the symposium and, this year, the new chairman, Ben S. Bernanke, did the honors. He closed his speech with these words:
"The interaction of housing, housing finance, and economic activity has for years been of central importance for understanding the behavior of the economy, and it will continue to be central to our thinking as we try to anticipate economic and financial developments."
Then came the other speeches. And it seems that some of the guests in Emerald City were waiting for their chance to pull back the curtain and prove that the Wonderful Wizard of Oz isn't such a wizard after all. Bloomberg reported that "Federal Reserve officials, wrestling with a housing recession that jeopardizes U.S. growth, got an earful from critics at a weekend retreat, arguing they should use regulation and interest rates to prevent asset-price bubbles."
Apparently, one academic paper presented at Jackson Hole graded the Fed an 'F' for the way it has handled the repercussions from the rise and fall of the housing market.
Truth be told, these folks are a little late to the table as critics of the Fed. We're glad they're joining us, but here's what they still haven't learned: It isn't because the Federal Reserve messes up by allowing credit, asset and stock bubbles to form that it's not a wizard. The Federal Reserve isn't a wizard for one particular reason that it doesn't want anybody to know – and that is that the Fed doesn't lead the financial markets, it follows them.
People everywhere want to believe in the Fed's wizardry. But all this talk about how the Fed will be able to help the U.S. economy and hold up the markets by cutting rates now is as much hooey as the Wizard of Oz promising Dorothy, the Scarecrow, the Tin Man and the Cowardly Lion that he could give them what they wanted: a return to Kansas, a brain, a heart, and courage. Because when the Fed does do something, it always comes after the markets have already made their moves.
If you don't believe it, you should look at one chart from the most recent Elliott Wave Financial Forecast. It compares the movements in the Fed Funds rate with the movements of the 3-month U.S. Treasury Bill Yield. What does it reveal? That the Fed has followed the T-Bill yield up and down every step of the way since 2000. And the interesting question becomes this: Since the T-bill yield has dropped nearly two points since February, how soon will the Fed cut its rate to follow the market's lead this time?
[Editor's note: You can see this chart and read the Special Section it appears in by accessing the free report,The Unwonderful wizardry of the Fed.]
We've got our own brains, heart and courage here at Elliott Wave International, and we've used them to explain over and over again that putting faith in the Fed to turn around the markets and the economy is blind faith indeed.
"This blind faith in the Fed's power to hold up the economy and stocks epitomizes the following definition of magic offered by Teller of the illusionist and comedy team of Penn and Teller: a 'theatrical linking of a cause with an effect that has no basis in physical reality, but that – in our hearts – ought to be.'" [September 2007, The Elliott Wave Financial Forecast]
Because, you see, what makes the markets move has less to do with what the unwizardry Fed does and more with changes in the mass psychology of all the people investing in those markets. The Elliott wave principle describes how bullish and bearish trends in the financial markets reflect changes in social mood, from positive to negative and back again. To extend the metaphor: The Fed can't affect social mood anymore than the Wonderful Wizard of Oz could change the direction of the wind that brought his hot air balloon to the Land of Oz in the first place.
As our EWI analysts write, "With respect to the timing of the Federal Reserve Board rate cuts, we need to reiterate one key point. The market, not the Fed, sets rates." Being able to understand this information puts you one step closer to clicking your ruby red shoes together and whispering those magic words: "There's no place like home." Once you land back in Kansas, your eyes will open, and you will see that an unwarranted faith in the Fed was just a bad dream.
Susan C. Walker writes for Elliott wave international , a market forecasting and technical analysis company. She has been an associate editor with Inc. magazine, a newspaper writer and editor, an investor relations executive and a speechwriter for the Federal Reserve Bank of Atlanta. Her columns also appear regularly on FoxNews.com.
*********************************
Happy Trading!!!
The Jackson Hole Resort serves as the Federal Reserve's equivalent of the Emerald City, as Fed governors and presidents meet with central bankers and economists from around the world to discuss economic issues. This year, the symposium focused on housing and monetary policy. Usually, the Fed chairman kicks off the symposium and, this year, the new chairman, Ben S. Bernanke, did the honors. He closed his speech with these words:
"The interaction of housing, housing finance, and economic activity has for years been of central importance for understanding the behavior of the economy, and it will continue to be central to our thinking as we try to anticipate economic and financial developments."
Then came the other speeches. And it seems that some of the guests in Emerald City were waiting for their chance to pull back the curtain and prove that the Wonderful Wizard of Oz isn't such a wizard after all. Bloomberg reported that "Federal Reserve officials, wrestling with a housing recession that jeopardizes U.S. growth, got an earful from critics at a weekend retreat, arguing they should use regulation and interest rates to prevent asset-price bubbles."
Apparently, one academic paper presented at Jackson Hole graded the Fed an 'F' for the way it has handled the repercussions from the rise and fall of the housing market.
Truth be told, these folks are a little late to the table as critics of the Fed. We're glad they're joining us, but here's what they still haven't learned: It isn't because the Federal Reserve messes up by allowing credit, asset and stock bubbles to form that it's not a wizard. The Federal Reserve isn't a wizard for one particular reason that it doesn't want anybody to know – and that is that the Fed doesn't lead the financial markets, it follows them.
People everywhere want to believe in the Fed's wizardry. But all this talk about how the Fed will be able to help the U.S. economy and hold up the markets by cutting rates now is as much hooey as the Wizard of Oz promising Dorothy, the Scarecrow, the Tin Man and the Cowardly Lion that he could give them what they wanted: a return to Kansas, a brain, a heart, and courage. Because when the Fed does do something, it always comes after the markets have already made their moves.
If you don't believe it, you should look at one chart from the most recent Elliott Wave Financial Forecast. It compares the movements in the Fed Funds rate with the movements of the 3-month U.S. Treasury Bill Yield. What does it reveal? That the Fed has followed the T-Bill yield up and down every step of the way since 2000. And the interesting question becomes this: Since the T-bill yield has dropped nearly two points since February, how soon will the Fed cut its rate to follow the market's lead this time?
[Editor's note: You can see this chart and read the Special Section it appears in by accessing the free report,The Unwonderful wizardry of the Fed.]
We've got our own brains, heart and courage here at Elliott Wave International, and we've used them to explain over and over again that putting faith in the Fed to turn around the markets and the economy is blind faith indeed.
"This blind faith in the Fed's power to hold up the economy and stocks epitomizes the following definition of magic offered by Teller of the illusionist and comedy team of Penn and Teller: a 'theatrical linking of a cause with an effect that has no basis in physical reality, but that – in our hearts – ought to be.'" [September 2007, The Elliott Wave Financial Forecast]
Because, you see, what makes the markets move has less to do with what the unwizardry Fed does and more with changes in the mass psychology of all the people investing in those markets. The Elliott wave principle describes how bullish and bearish trends in the financial markets reflect changes in social mood, from positive to negative and back again. To extend the metaphor: The Fed can't affect social mood anymore than the Wonderful Wizard of Oz could change the direction of the wind that brought his hot air balloon to the Land of Oz in the first place.
As our EWI analysts write, "With respect to the timing of the Federal Reserve Board rate cuts, we need to reiterate one key point. The market, not the Fed, sets rates." Being able to understand this information puts you one step closer to clicking your ruby red shoes together and whispering those magic words: "There's no place like home." Once you land back in Kansas, your eyes will open, and you will see that an unwarranted faith in the Fed was just a bad dream.
Susan C. Walker writes for Elliott wave international , a market forecasting and technical analysis company. She has been an associate editor with Inc. magazine, a newspaper writer and editor, an investor relations executive and a speechwriter for the Federal Reserve Bank of Atlanta. Her columns also appear regularly on FoxNews.com.
*********************************
Happy Trading!!!
How to adopt the traits of a successful trader
Hey Traders,
Here's a post by Heather Johnson that will serve you well in your trading – Enjoy!
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Not all Forex traders were cut from the same cloth, but the most successful investors do have several things in common. Whether you are a newcomer to trading or you are a seasoned pro who is trying to improve your game plan, the following suggestions may help you out. Below are five ways to evolve into a successful trader:
1. Become a lifelong student – Never stop learning about the business you are in. If you think you know everything about the Forex market, then think again. The successful trader is a lifelong student who constantly absorbs new information about the ever-evolving climate of Forex trading.
2. Be courageous – It's hard to overcome your fears when you are dealing with an unpredictable investment. Even if you are equipped with extensive knowledge about the market, you still have to put your money at risk every day. Reserve a small amount of apprehension (just enough to keep you sensible), but don't hesitate at every turn.
3. Hone your math skills – You are wading through a sea of mathematical information every day when you look over your charts. The most successful traders know how to take that large amount of information and pull out necessary information.
4. Be patient – Become a long-term investor and put all notions of overnight success to rest. You must adopt a stoic attitude, as you make the most informed decisions about your business and leave the rest to fate.
5. Learn to love trading – Maybe you already do love trading and that's why you are involved with Forex. However, many people are either too wrought with anxiety to enjoy it or merely see it as a job. If you don't like trading, don't trade. A great trader will love the roller coaster ride he/she is on.
Are the above suggestions obvious? Perhaps, but many of us take a wrong turn somewhere and need some simple advice to get us back on track. In order to stay on top of your game, you will need to constantly reinvent yourself, as there is no world that calls for flexibility more than the Forex market.
Regret willkill ur forex account
OK, so you just pulled the trigger on a trade and every bone in your body told you not to. You violated the rules dictated in your trade plan and you watched a small profit immediately turn into a major loss.
Sound familiar? What do you do?
You get over it, that’s what you do! Regret over a bad trade will eat your account from the inside out. Regret is a more powerful emotion than most traders recognize. It is like the unwanted guest that keeps living off of your bank account until there is no more left. It takes most traders into a tailspin that they will never recover. It can lead to dangerous psychological results such as failure to pull the trigger over even worse, paralysis by analysis.
“Yeah, but…” (I will save the disempowerment of this statement for another day)
It’s not easy putting those emotions aside when your money is on the line. That’s why they called it trading, folks. In Forex someone is on the other side of the trade controlling their emotions and eventually controlling your account balance. If you want to find consistency you must never let regret live in your trading experience.
Here’s what I do to combat this debilitating emotion … I get over it! How do I do this? I simply perform a post mortem of my bad trades (I still have them every now and then) and keep a detailed journal. Over time I began to recognize my personal triggers and simply tweaked my trade plan to be a more proactive currency trader and avoid the situations that led to the bad trade in the first place, in my instance over-trading or being tired.
What trader do I model my approach after? The answer may surprise you!
The answer is Tiger Woods.
I play golf, so you could imagine I am a huge fan of Tiger Woods. There are a lot of similarities between golf and trading. Both venues offer a look at who we are as a person, raw and uncensored. Both live in the world of risk and reward.
I admire Tiger Woods skill as a golfer, but even more so his mental toughness. Next time you watch Tiger Wood hit a bad shot follow his reaction. His immediate reaction is to get upset, really upset. Then count 5 seconds. His expressions and demeanor will have returned to one of focus and concentration.
And the funny thing is that is doesn’t matter what kind of prize money is online. He takes the same approach to every golf shot, in every tournament.
Let’s translate that to trading. Do you give yourself 5 seconds to get over a bad trade? Do you take the same approach to every trade?
Stop living in the world of regret and only think about the possibilities of wining trades and you will find your experiences trading the Forex market one filled with achievement and success.
Happy Trading!!
Sound familiar? What do you do?
You get over it, that’s what you do! Regret over a bad trade will eat your account from the inside out. Regret is a more powerful emotion than most traders recognize. It is like the unwanted guest that keeps living off of your bank account until there is no more left. It takes most traders into a tailspin that they will never recover. It can lead to dangerous psychological results such as failure to pull the trigger over even worse, paralysis by analysis.
“Yeah, but…” (I will save the disempowerment of this statement for another day)
It’s not easy putting those emotions aside when your money is on the line. That’s why they called it trading, folks. In Forex someone is on the other side of the trade controlling their emotions and eventually controlling your account balance. If you want to find consistency you must never let regret live in your trading experience.
Here’s what I do to combat this debilitating emotion … I get over it! How do I do this? I simply perform a post mortem of my bad trades (I still have them every now and then) and keep a detailed journal. Over time I began to recognize my personal triggers and simply tweaked my trade plan to be a more proactive currency trader and avoid the situations that led to the bad trade in the first place, in my instance over-trading or being tired.
What trader do I model my approach after? The answer may surprise you!
The answer is Tiger Woods.
I play golf, so you could imagine I am a huge fan of Tiger Woods. There are a lot of similarities between golf and trading. Both venues offer a look at who we are as a person, raw and uncensored. Both live in the world of risk and reward.
I admire Tiger Woods skill as a golfer, but even more so his mental toughness. Next time you watch Tiger Wood hit a bad shot follow his reaction. His immediate reaction is to get upset, really upset. Then count 5 seconds. His expressions and demeanor will have returned to one of focus and concentration.
And the funny thing is that is doesn’t matter what kind of prize money is online. He takes the same approach to every golf shot, in every tournament.
Let’s translate that to trading. Do you give yourself 5 seconds to get over a bad trade? Do you take the same approach to every trade?
Stop living in the world of regret and only think about the possibilities of wining trades and you will find your experiences trading the Forex market one filled with achievement and success.
Happy Trading!!
A forex's trader lifestyle
Whether you are a novice Forex trader or a seasoned veteran one aspect you must always take into account is to ensure your lifestyle supports successful trading. Forex trading is no different from any other endeavor in life. Whether you are employee, employer or self-employed you must take the time and effort to ensure your environment is conducive to your success.
Take a look at your surroundings and make sure your lifestyle supports you being a successful Forex trader. Take in all the factors of success (how YOU define success) evaluate your factors to make sure your trading is:
Specific – Do you have specific trading goals and objectives? Do you have a trading plan? Ask yourself is your plan to general?
Measurable – Do you have systems in place to objectively measure your performance? If you don’t know your numbers then do you really have a trading business?
Has a Timeline – Do you have a timeline for which you are measuring your goals and objectives against?
Controllable – There are many aspects in Forex trading you can’t control, ensure that the areas your can control are firmly defined and managed with discipline.
Programmed Into Your Lifestyle – Are your Forex trading activities programmed and congruent with your lifestyle? Balance is important so make sure this passes the test!
Taken in Small Steps - This business is a marathon and not a sprint. Start off with small steps and build. The best practice trading principals do not change with account size.
Accountable – Forex trading (or any trading for that matter) can be such an isolated activity. Find ways to have others participate and hold you accountable for your goals. Make it real and measurable!
True Forex success is built through smart work and dedication. By establishing the trading lifestyle that best supports your personality will guarantee prolonged success. Remember, it is your Forex journey. Be sure you enjoy the ride!
Happy Trading!!
Take a look at your surroundings and make sure your lifestyle supports you being a successful Forex trader. Take in all the factors of success (how YOU define success) evaluate your factors to make sure your trading is:
Specific – Do you have specific trading goals and objectives? Do you have a trading plan? Ask yourself is your plan to general?
Measurable – Do you have systems in place to objectively measure your performance? If you don’t know your numbers then do you really have a trading business?
Has a Timeline – Do you have a timeline for which you are measuring your goals and objectives against?
Controllable – There are many aspects in Forex trading you can’t control, ensure that the areas your can control are firmly defined and managed with discipline.
Programmed Into Your Lifestyle – Are your Forex trading activities programmed and congruent with your lifestyle? Balance is important so make sure this passes the test!
Taken in Small Steps - This business is a marathon and not a sprint. Start off with small steps and build. The best practice trading principals do not change with account size.
Accountable – Forex trading (or any trading for that matter) can be such an isolated activity. Find ways to have others participate and hold you accountable for your goals. Make it real and measurable!
True Forex success is built through smart work and dedication. By establishing the trading lifestyle that best supports your personality will guarantee prolonged success. Remember, it is your Forex journey. Be sure you enjoy the ride!
Happy Trading!!
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