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NooraEid
charletan
Joined: 11 Feb 2010
Posts: 18
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Posted on Wed 17 Feb 2010 19:46 by NooraEid
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Hello Everyone,
I would like to begin by introducing myself. My name is Noora Eid and I am the FXCM MENA Ambassador.
My real name is not Noora Eid, but I am a real person. There may come a time when FXCM MENA may change or replace the person acting as FXCM MENA Ambassador, so it was important to have a fictional name that could be used by several people. However, the picture attached to my profile and the bio details below are all true. The Ambassador information will change according to the person holding the position.
Bio:
I work for FXCM MENA and was part of the team that was trained by FXCM for the opening of our regional office in 2009.
I traded a personal account before at FXCM and I have a Business degree from AUB (American University of Beirut) with a specialization in Finance.
I am based in Beirut, Lebanon.
Please feel free to ask any question related to FXCM, FXCM MENA or Forex trading in general. Depending on the type of question, I might respond publicly or privately. I cannot publicly discuss the details of any clients trading activity, so please privately message with regards to personal issues.
I wish everyone the best in the community, and look forward to connecting with you and helping where I can.
Noora |
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Novice_investor
horse trader
Joined: 17 Oct 2009
Posts: 174
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Posted on Wed 17 Feb 2010 21:49 by Novice_investor
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Hi Noora...
personally i would like to welcome you here... (Sharewadi would do it soon for the entire forum !)...
and ofcourse i have a few questions on FX...
1. Where do you see Euro/USD going in short term... say 1 week to 10 days... by beginning of March ?
2. Where do you see Eur/USD six months down the line... in 2nd half?
3. USD/CHF... having strong resistance at 1.08 and good support at 1.05... do you see it going beyond 1.08 anytime soon... ? where do you see the pair moving in short term... There seems to be momentum gathering again towards 1.08...
Would really appreciate if you could share your views...
regards
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NooraEid
charletan
Joined: 11 Feb 2010
Posts: 18
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Posted on Thu 18 Feb 2010 13:29 by NooraEid
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Hello Novice,
Trying to predict an exact figure long term for currencies is hazardous at best. If you look at the predictions of the top banks of varying time frames, their predictions can vary by vast amounts. The market overall has been very bearish the EUR/USD due to what has been happening in Greece and the problems surrounding their budget deficit. Any time the market thinks that the Greek situation will be resolved, I would look for the EUR/USD to continue moving higher. Anytime there is the possibility for more turmoil to come out of the Euro-Zone I would look for traders to flee the Euro for the US Dollar.
Personally I'm bearish the EUR/USD because of what's happening with Greece. Don't forget that Portugal, Italy, Spain, and Ireland are also running into budget deficits of their own, so other countries are in the same boat. Taking that into account, the magnitude of the EUR/USD movement to the downside has been very large. The EUR/USD has dropped nearly 3 times as fast as it took the uptrend to develop. Some sort of retracement would not be out of the ordinary.
So overall the trend is down; however, we’ve run into some strong support levels and some consolidation may be in order.
Articles have been published on a potential USD retracement. The market moved so fast to the downside that there were too many traders biased towards a short EUR/USD position. In effect these traders were too late to the trade and sold at the bottom.
On your question about USD/CHF, you are correct that 1.08 has turned into strong resistance. The trend is still up; however, there may be some trouble breaking through. The one thing that you have in your favor is the Swiss National Bank continuing to favor a weaker Franc and just last week there were rumors of intervention to weaken the Franc. And any turmoil out of the Euro-zone will continue to help the USD gain in value.
Noora
FXCM MENA |
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sharewadi
moderator
Joined: 19 Aug 2005
Posts: 13362
Location: up the wadi without a paddle
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Posted on Thu 18 Feb 2010 16:20 by sharewadi
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| Novice_investor wrote: |
| personally i would like to welcome you here... (Sharewadi would do it soon for the entire forum !)... |
Yes, welcome to Dubai Share Talk Noora. I don't have much knowledge about currency trading myself but look forward to reading what you have to say, as I'm sure many other members do also  .
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NooraEid
charletan
Joined: 11 Feb 2010
Posts: 18
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Posted on Thu 18 Feb 2010 17:09 by NooraEid
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| sharewadi wrote: |
| Yes, welcome to Dubai Share Talk Noora. I don't have much knowledge about currency trading myself but ... |
Thank you Sharewadi for welcoming me into DubaiShareTalk
Glad to be here, and look forward to answering questions about FXCM MENA or helping in any way possible.
Wishing everyone the best with trading!
Noora
FXCM MENA |
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NooraEid
charletan
Joined: 11 Feb 2010
Posts: 18
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Posted on Mon 22 Feb 2010 15:44 by NooraEid
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Hello Everyone,
FXCM MENA is pleased to introduce a 24-hour customer support service during trading hours, beginning on Sunday February 21 2010 at the opening of the Asian markets.
Our offices will be open continuously throughout trading hours from Sunday 10:30pm local time (8:30pm GMT, 3:30 pm EST) until Friday 11:00pm local time (9:00pm GMT, 4:00pm EST).
In addition, our offices will be open on Sundays, from 12:00pm local time (10:00am GMT, 5:00am EST) to 6:00pm local time (4:00pm GMT, 11am EST).
FXCM MENA is looking forward to serving you and other traders in the region
Noora
FXCM MENA |
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NooraEid
charletan
Joined: 11 Feb 2010
Posts: 18
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Posted on Mon 22 Feb 2010 16:27 by NooraEid
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Hi Everybody,
Wanted to inform you that over the past weekend FXCM reduced its minimum margin requirements (MMR) on all EUR and GBP currency pairs.
You can check your trading platform window for the update.
Let me know if you have any questions!
Noora
FXCM MENA |
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NooraEid
charletan
Joined: 11 Feb 2010
Posts: 18
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Posted on Fri 05 Mar 2010 15:32 by NooraEid
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Hello Everyone,
Today at 8:30 EST the US Department of Labor will be releasing the most anticipated news report of the month: the US NFP (Nonfarm Payrolls). The NFP is the number of jobs added or lost in the economy over the last month without including the jobs related to the farming industry.
This report can result in increased volatility and a chance to profit handsomely in a short period of time.
Taking into account that the initial and continuing jobless claims came out better than expected, do you think that the actual number will come out better than expected? How do you think the EUR/USD will be affected?
Share your views 
Noora
FXCM MENA |
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ixtira
horse trader
Joined: 11 May 2009
Posts: 191
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Posted on Sat 06 Mar 2010 01:30 by ixtira
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The US jobless figures were better than expected and yet the dollar went down ... politics and Forex don’t mix
Currency trading is a zero sum game … Overall the market neither makes nor looses money. No value is lost or created, therefore Forex (in it's totality) is not a form of investment.
But this forum is not about Forex (plenty of forums out there for that). The forum is about shares traded on the UAE bourses. |
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sharewadi
moderator
Joined: 19 Aug 2005
Posts: 13362
Location: up the wadi without a paddle
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Posted on Sat 06 Mar 2010 09:47 by sharewadi
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| ixtira wrote: |
| But this forum is not about Forex (plenty of forums out there for that). The forum is about shares traded on the UAE bourses |
Well, er, mostly. But there is a currency trading subforum (added as a result of several requests), and there are also other subforums for shares in other countries, and other investments such as Dubai property etc .
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NooraEid
charletan
Joined: 11 Feb 2010
Posts: 18
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Posted on Tue 09 Mar 2010 14:07 by NooraEid
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| ixtira wrote: |
| Currency trading is a zero sum game … Overall the market neither makes nor looses money. No value is ... |
Thank you Ixtira for your thoughts. I would like to share with you some of mine.
While some people may not relate Forex to politics, some others do.
As a case of example is the dollar's reaction on Friday, which can be interpreted in many ways based on each trader's point of view and how economic news can be translated into an investment decision. There are sources that interpreted the fall of the dollar index on Friday based on the bail out of Greece. In some other trader's opinion, the fall of the dollar index is only a technical correction where the DXY will fall back to 79 support level and pull back up from there to 82 levels.
If economic data was that much correlated to market movements, it would be very easy for every single trader to make free money and just base their decision on the economic releases, which is not the case. I am sure you witnessed a sell off on a stock although the earnings came out better than expected. It is not a rule of thumb to directly correlate economic data to market movements.
True, Forex is a zero sum game. But just like the price of a stock reflects the market cap. of a company, the market rate of a currency reflects the strengths of that currency compared to its peers. In other words, Forex trading is more of a macro investment rather than a micro investment which reflects more equity trading. If the EUR/USD for instance is an upward trend, this means that there is a huge demand on the EU currency, because traders are speculating that the European economy is on its right track and that growth is showing back up. Sometimes, it is inflation that is responsible for price over shooting or deflation in case of a downturn in a currency.
Forex trading is just as a great investment tool as the stock market. The difference between both is the macro versus the micro overview. A lot of traders advise using technical tools and stay away from fundamentals when dealing with currencies. Others are more into fundamental analysis rather than being a technician to have a clear view on the markets.
This is a huge debate whereas it is the trader’s point of view that matters at the end of the day, and what trading tools are used to reflect a good investment decision.
I look forward to share more views on this matter
Noora
FXCM MENA |
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ixtira
horse trader
Joined: 11 May 2009
Posts: 191
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Posted on Tue 09 Mar 2010 15:57 by ixtira
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Some good points raised,
Investing and Trading are fundamentally different approaches. If I believed in the long term strength of the euro then I would move money into a high interest Euro account or more likely buy Euro bonds or gilts. I can’t thing of a reason to store money in a Forex trading account long term.
What sort of interest rate are FXCM paying on their standard euro account? |
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NooraEid
charletan
Joined: 11 Feb 2010
Posts: 18
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Posted on Wed 10 Mar 2010 18:00 by NooraEid
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| ixtira wrote: |
| What sort of interest rate are FXCM paying on their standard euro account?... |
FXCM is a Forex trading company. As all the online Forex firms, FXCM does not give any interest on any of its accounts, since Forex companies provide you with a platform that enables you to invest your funds and profit from rising and falling markets. What the client can benefit from is the differential in the interest rates between two different currencies, which is reflected in the roll over fees that traders can see on their Trading Station i.e. if the client is long AUD/USD meaning he is financing his AUD investment by borrowing USD, he will get paid $14.91 on every 10K invested, knowing that the interest rates, today, on the AUD is 4.00% and the interest rates on the USD is 0.25%.. The client here would be borrowing USD and paying 0.25% interest on them, and buying AUD whereby earning 4.00% of interest on his money. The client will benefit from that spread of interests in both currencies, roll over profit, and earn money on a daily basis for holding that position. The client will keep on earning money as long as the position is opened. Appreciation and devaluation of the currency pair, AUD/USD, will be reflected in profits or losses on that trade and that this is a different issue. If losses occur on the trade, then the client has obviously made a wrong decision i.e. a bad investment. Regardless of the fact if his initial position is gaining or losing money, he will still benefit from the roll over that he is earning on a daily basis. Those roll over profits will be added to the client’s account at 5 pm EST, on a daily basis.
To sum up, FXCM does not give clients interests on the money held in their accounts, since at any point in time this amount of money can be used by the trader for investment purposes, meaning that the amount deposited is not blocked but can be used at any point in time. All financial institutions for the exception of banks, do not offer interest on money deposited by clients.
FXCM’s platform (TS2: Trading Station 2) gets its quotes from 10 of the world's premier banks or financial institutions, which compete to provide FXCM with bid and ask prices. The best bid/ask price is taken and streamed onto the platform. There is a pip-mark up on the spread which is how FXCM makes money. The prices will move to wherever the banks are quoting the best bid/ask so FXCM does not have control over the price movement.
Whenever you place a trade, each order is off-set with a global bank, so FXCM is not taking the other side of your position. The loss on your trade is not FXCM's profit; therefore, there is no incentive to manipulate prices such as stop hunting. It is from here that comes the NDD (No Dealing Desk) concept.
True, there isn’t any interest offered on long term deposits, but the benefits exceed the incentive of earning an interest.
FXCM’s Benefits:
1) Lower Spreads:
a. Euro/U.S. dollar spread is frequently 2 pips, British Pound/dollar 3 pips
b. Trade on rates provided to FXCM by multiple global banks
c. FXCM’s monthly trading volume of over $365 billion drives price com[petition
d. Fractional pip pricing facilitates the tightening of spreads even Further
2) No Dealing Desk Execution
a. No conflict of interest between the broker and trader
b. No dealer intervention
c. Price providers (banks) do not see your stops, limits and entry orders
d. Competition reduces the potential for market manipulation by price providers
3) No Trading Restrictions
a. Trade during breaking news
b. Place entry orders anywhere – even inside the spread
c. Scalp the market
d. Rollover transparency – all amount are displayed in advance
e. Receive positive rolls at all margin levels
I'll be sharing with you in a separate post the difference between Forex and Stock Markets.
If you have any comments or questions on the above please don't hesitate to share |
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NooraEid
charletan
Joined: 11 Feb 2010
Posts: 18
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Posted on Thu 11 Mar 2010 17:02 by NooraEid
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Hello Everyone,
I have been getting many questions lately on the main difference between FX and Stocks. I wanted to highlight some of the key benefits of the FX market.
The currency trading market is the most traded financial market in the world. Its daily volume surpasses $4 trillion. That is roughly more than three times the volume of the Stocks and Futures markets combined. You can easily see how enormous the Forex market really is.
Unlike other financial markets, the Forex market is neither bound by a physical location nor a central exchange. It is deemed an Over-the-Counter (OTC) or 'Interbank' market, due to the fact that the entire market is continuously run electronically, within a banking network.
FX vs. Stock Market, Benefits:
1. No middlemen! It provides you with a quicker access to the markets at cheaper costs, cutting out the middlemen, saving both time and money.
2. 24 hours trading. It is open around the clock six days a week, enabling traders to act on news and events as they happen.
3. High levels of liquidity where a large trading volume is executed with relatively minor price changes and with banks supplying price feeds/quotes all the time. So there is an instantaneous execution of Market Orders.
4. No commission. The only cost you will encounter is the spread. Combined with a tight and fully transparent spread, Forex trading is cheaper. Essentially, the spread is a market condition. The reason for the spread is a buffer to match the prices of the buyers and sellers.
5. Equities are much more volatile and aggressive than the currencies’ markets. As you all know, based on your experience in equities, we have heard a lot of times that a stock reached its limit down or up, 15% move compared to the previous close. Whereas, FX movements do not breach the 3-4% barrier maximum per day.
6. Traders can position themselves in the FX market in both rising and falling markets. Whereas short-selling a stock takes the trader through the process of actually lending the stock from a buyer.
7. FX trading offers traders a leverage of approximately 200 to 1, i.e. a margin of 0.5%. Whereas Stock market only offers a 5 to 1 leverage, i.e. a 20% margin. Not forgetting the fact that higher leverage can incur higher losses or profits, traders should take advantage of the higher margin offered responsibly or to their own benefits.
8. Demo Accounts allow new traders to test their market strategies and to assimilate to the platform’s functionality. Practice accounts are a risk-free way to enter and understand the FX markets. Also traders can access daily news, charts and analysis to keep track of market movements and predictions. On the equity markets, information/economic data are released either on a monthly basis and most on a quarterly basis: e.g. Earnings Releases. FX markets are subject to daily, weekly and monthly economic releases.
Let me know if you have any question or comment
Noora
FXCM MENA |
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aerojack
profiteer
Joined: 17 Oct 2009
Posts: 53
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Posted on Thu 11 Mar 2010 23:39 by aerojack
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Hi Noora
Thanks for the information related to forex trading,u remind of fayesloan,one more DST Member who is an ardent supporter of Forex over stocks.
now my only question,is how do u join this Trillion dollar club? 
where can u gain knowledge of trading in forex?bcos dont want to burn money like in stocks. |
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NooraEid
charletan
Joined: 11 Feb 2010
Posts: 18
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Posted on Tue 23 Mar 2010 14:53 by NooraEid
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Hello Aerojack,
If you ever need more information on any specific topic related to Forex please let me know.
You can easily join this "Trillion Dollar Club" You can always start off with a practice account. I will send you the link in a personal message since I can't add any links yet. This demo account offered by FXCM MENA is a $50,000 free practice account where you can perfect your techniques. You can check DailyFX for any additional education info and news on upcoming events.
As you go along, please let me know if I can help.
Noora
FXCM MENA |
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sharewadi
moderator
Joined: 19 Aug 2005
Posts: 13362
Location: up the wadi without a paddle
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Posted on Tue 23 Mar 2010 15:17 by sharewadi
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| NooraEid wrote: |
| I will send you the link in a personal message since I can't add any links yet. |
You can't? That's odd. There shouldn't be any restriction on you posting a link as far as I know (as long as it's done within the forum guidelines). What happened when you tried?
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NooraEid
charletan
Joined: 11 Feb 2010
Posts: 18
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Posted on Tue 23 Mar 2010 16:12 by NooraEid
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| sharewadi wrote: |
| You can't? That's odd. There shouldn't be any restriction on you posting a link as far as I know (as ... |
When i post a reply, the HTML is off and I can't add any link. Only BBCode and Smilies are on.
Thanks for following up
Last edited by NooraEid on Tue 23 Mar 2010 16:33; edited 5 times in total |
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sharewadi
moderator
Joined: 19 Aug 2005
Posts: 13362
Location: up the wadi without a paddle
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Posted on Tue 23 Mar 2010 16:27 by sharewadi
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| NooraEid wrote: |
| When i post a reply, the HTML is off and I can't add any link. |
The HTML is off by default for everyone. That's standard for most forums. It means you cannot post HTML code, but you should still be able to post a link.
When you say you can't post a link, what happened when you tried? Did you get any error message? Or did the post, or link just not appear? Or what happened when you clicked on the submit button?
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NooraEid
charletan
Joined: 11 Feb 2010
Posts: 18
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Posted on Tue 23 Mar 2010 16:35 by NooraEid
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| sharewadi wrote: |
| When you say you can't post a link, what happened when you tried? Did you get any error message? Or did ... |
When I insert a link it doesn't show as a hyperlink (in blue, as a click-able text). It comes out as a plain text. That's why I thought that I can't post any. |
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sharewadi
moderator
Joined: 19 Aug 2005
Posts: 13362
Location: up the wadi without a paddle
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Posted on Tue 23 Mar 2010 16:39 by sharewadi
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| NooraEid wrote: |
| When I insert a link it doesn't show as a hyperlink (in blue, as a click-able text). |
Oh, ok. Yes, that's correct. That's to make the forum less attractive to spammers. But you can still post the link so people can visit the website - they just have to do a copy/paste.
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NooraEid
charletan
Joined: 11 Feb 2010
Posts: 18
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Posted on Tue 23 Mar 2010 16:46 by NooraEid
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| sharewadi wrote: |
| Oh, ok. Yes, that's correct. That's to make the forum less attractive to spammers. But you can still ... |
Oh ok then. I will be posting a reply with the links then.
Thanks Sharewadi |
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NooraEid
charletan
Joined: 11 Feb 2010
Posts: 18
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Posted on Tue 23 Mar 2010 17:11 by NooraEid
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| NooraEid wrote: |
| You can easily join this "Trillion Dollar Club" You can always start off with a practice ... |
Hello Aerojack:
As a follow up of my last post. You can follow this link to try our demo account and practice with $50,000: http://tinyurl.com/fxcmmena-12
You can also check out www.dailyfx.com for some educational info and news on events with daily briefings on the currency market.
If you have any questions please let me know.
Noora
FXCM MENA |
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NooraEid
charletan
Joined: 11 Feb 2010
Posts: 18
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Posted on Fri 02 Apr 2010 14:13 by NooraEid
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Hello Everyone,
FXCM MENA is happy to announce that it is launching its first round of educational seminars in Damascus, Syria. Please refer to the schedule here below:
Introduction to Forex & to FXCM: 2:30pm
Introduction to Forex & to FXCM: 5:30pm
Date: Friday, April 16th, 2010
Venue: Sheraton Damascus Hotel (Omayad Square)
If you are interested in joining us at these seminars, please send an email to marketing at fxcmmena.com specifying at what time you would like to attend so that we can reserve your place (Limited spaces available – reservations will be done on a first come, first served basis).
Please refer to the following link for more information: http://bit.ly/aun7Jk
See you there
Noora
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NooraEid
charletan
Joined: 11 Feb 2010
Posts: 18
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Posted on Tue 13 Apr 2010 13:43 by NooraEid
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| NooraEid wrote: |
| If you are interested in joining us at these seminars, please send an email to marketing at fxcmmena.com ... |
IMPORTANT NOTICE:
The Seminars in Damascus, Syria will not be held at the Sheraton Hotel as previously communicated. They will be held at the FOUR SEASONS Hotel.
Join us on the 16th of April 2010 in the Four Seasons Hotel at 2:30pm or 5:30pm for an introduction to Forex & to FXCM.
For more info: http://bit.ly/aun7Jk
Thank you
Noora
FXCM MENA |
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