I’m looking for guest posts from you, the forex trader. I find that comments and emails submitted to this site are often very helpful so I think it’s a great way to share your experiences to the large audience that visits here daily.
This is what I’m looking for:
- Practical trading tips, experiences, opinions, or anything related to forex trading.
- Posts can be of any length.
- Posts shouldn’t contain a lot of self-promotion. I certainly welcome you to mention what you do and I will have a byline link.
- Posts should contain original content not found anywhere else on the web. I don’t want to be penalized by search engines for having duplicate content.
You can submit your guest post directly to firstname.lastname@example.org in any format you wish (text, Word, html, pdf, etc.)
In my continued effort to produce the best results possible, I’ve added another level of statistics to determine the most visited forex websites at Forex On Top. I’ve added traffic rankings from Quantcast which complement rankings from both Compete.com and Alexa. The total ranking doesn’t reflect the use of Quantcast yet but will upon the next update on Saturday. I can imagine there being a huge change in overall rankings after the update.
Forex On Top was updated today after I skipped a week of updates. Therefore there are a lot of changes in the rankings.
The December 31st, 2007 FCM report was released from the CFTC and processed on http://www.brokerontop.com today. Some notable mid-cap Forex brokers who remain in financial shape based on Excess Net Capital are:
- Oanda’s excess net capital decreased 1.85% from the previous month to 149 million dollars.
- FXCM’s excess net capital decreased marginally from the previous month to 61 million dollars.
- Gain Capital (Forex.com) excess net capital decreased almost 2% from the previous month to just over 44 million dollars.
- Interbank FX excess net capital decreased by over 40% from the previous month to 15.7 million dollars.
- FX Solutions excess net capital decreased by 49% from the previous month to 13 million dollars.
- GFS Forex and Futures increased excess net capital by 248% to just over 9 million dollars.
- CMS Forex increased excess net capital by over 22% to just under 9 million dollars.
- Alpari (US) had excess net capital decrease by over 44% to just over 3 million dollars.
- Easy Forex had excess net capital decrease by over 48% to 2.6 million dollars.
These numbers don’t tell the full story of any FCM’s financial health. Perform your own due diligence to try to determine if a forex firm is financially stable. I prefer the mid-cap brokers but we all know what happened to Refco a couple of years ago so you never know. Even though Refco seemed like they were financially stable, if the company is hiding bad debt and performing creative accounting, your money could be gone forever.
I realized today that I never announced the winners of the "no-prize" trading contest that concluded at the end of January. 16 traders participated, 7 were profitable, 9 were not. The total return for all profitable traders was 70.28% compared to a total loss of 255.85% for the 9 losing traders. Before I announce the top 5 traders, let me define two terms that will be used in the recap and in the trading results on Oanda’s contest page:
Maximum Drawdown: The maximum drawdown of the contestant. The period over which the drawdown is calculated is delimited by the times when contest statistics are computed.
Sharpe ratio: This is often regarded as a measure of risk to reward and attempts to quantify how much risk a user assumes to make their gains. This is measured as the ratio of the average interest free return as compared to the standard deviation of the interest free return. Return periods are delimited by the times when contest statistics are computed.
- Elskid had a return of 23.74% with a very respectable maximum drawdown of -1.60%.
- Davor Babic was close behind the #1 with a return of 21.20% but with a higher maximum drawdown than any other profitable trader at -10.18%.
- RotcaX had a return of 11.80% and a low maximum drawdown of -1.63%.
- Forex Project (me) had a return of 6.86% with a maximum drawdown of -4.00%.
- Uri had a return of 5.37% with a maximum drawdown of -6.16%.
Congratulations to the winners. Sorry there were no prizes to make it a little more eventful…
The February 2008 issue of Currency Trader Magazine was released today. Highlights include:
- Understanding the Fed’s Goal
- The Economy : Thinking through the "R" word
- Aussie Dollar Trend Analysis
- The Dollar and Mutual Funds
- Fundamentals Lead the Chart
Forex on Top was updated today. Check out the latest rankings at http://www.forexontop.com.
For some reason, I can’t get my RSS subscriptions over the century mark. Every time I get close, within one or two, I fall right back down. So if you haven’t subscribed to my full RSS feed, please do so.
Forex On Top was updated this evening. There were an addition of four sites this week. There appear to be a lot of changes everywhere.
Good thing there really isn’t any news to trade….