The Elliott Wave Theory In Forex Trading
by Joel Teo

The Elliott Wave Theory that is used in Forex trading is named after a man by the name of Ralph Nelson Elliott, who was around in the nineteen twenties and thirties. Elliott was the person who discovered that stock markets did not behave in a somewhat chaotic manner, which was previously thought to be the case. He discovered that the stock markets traded in a repetitive cycles that were based on the emotions of investors and traders that are caused by outside influences or the mass psychology that is predominant at that specific time. Elliott also explained about how the up and down swings of the mass psychology always resulted in the exact same repetitive patterns, which he then divided into patterns that he designated waves. To claim this observation made by him, Ralph Elliott came up with the name The Elliott Wave Theory.
The pattern that is shown when a trending market moves is what Mr. Elliott called a five three pattern. The first five wave pattern is called impulse waves, and then the last three wave pattern is called corrective waves. During wave one, the initial upward move is taken. This is caused by a small amount of buyers who purchase, and this causes a rise in the price. In wave two, people who originally bought sell their investment, and this causes the price to dip, however, it will not go as low as the start price before it starts being bought again. Wave three is generally the strongest and longest of all the waves. This wave is when the general public notices the currency and wants to purchase it. This causes a price spike which exceeds the price at wave one. Wave four is when more people start to sell again, so the price dips. Wave five is when most people buy, and this is when the price because too much. At this point the ABC corrective waves come in. The three wave pattern is considerd wave counter trends. Letters are used instead of numbers for this three wave set.
According to The Elliott Wave Theory, the Forex market moves in predictable repetitive patterns called waves. A market that is trending moves in a five three wave pattern, with the first five waves are impulse waves, and the last three waves are corrective waves. By understanding what the waves represent in the Forex market, traders and investors can understand how the market is moving and how to maximize their investment while minimizing their risks in the Forex market.


Tips For Forex Pivot Point Trading
by Joel Teo

Forex pivot point trading is an easy way for traders to utilize the pivot points and predict what is possible in the market. There are some easy to use, follow, and remember tips that will help any Forex market investor use pivot points and the associated support and resistance levels to minimize their risks.
If the price is at the pivot point, a move back to the resistance one or support one level is very possible. If the price is at the resistance one level, you can expect to see a move to the resistance two level or a move back towards the pivot point. If the price of the currency is at the support one levels, expect it to move towards the support two level or to go back towards the pivot point level. If the price is at resistance two levels then it can be expected to move towards the resistance three levels or back towards the resistance one level. If the price is at the support two level, you can expect it to move towards the support three level or a move back towards the support one level.
Any news that is a significant influence to the market will have an effect on prices. If there is no news at all that has a significant influence on the market, the price will generally move from the pivot point to either support or resistance level one. If there is any significant news which has an influence on the market, then market price may go right through the resistance one or support one level, and reach level two, or even three, of the support or resistance levels. Resistance level three and support level three are used by Forex market traders as a general indication of the maximum range for days that are extremely violatile but may occasionally be exceeded. Pivot points work excellently in sideways markets because prices will usually range between the resistance level one and the support level one price fluctuation. In a very strong Forex market trend, the price may blow right through a pivot line and keep moving.
The pivot point is a very important tool used by Forex market traders to analyze market fluctuations. The pivot point is the first place an investor usually enters a trade, because the pivot point is the primary support and resistance level and the biggest price movements generally occur at the pivot point price. By following the tips above, pivot point trading on the Forex market will help a trader anticipate market trends and minimize the risk.


Forex Pivot Point: What It Is And What It Does
by Joel Teo

Forex Pivot points are used by Forex investors and market traders to figure out the entrance and exit points for the Forex trading day. The trading activity for the previous day determines where these pivot points are set. This technique is generally used after you have determined the direction that the trend is going. Pivot points are used alongside some of the other technical analysis tools including MACD crossover, candlestick patterns, and moving average crossovers, to try and maximize investment and minimize loss by predicting the fluctuations of the market. Forex uses pivot points extremely well because of the fact that the majority of the currency pairs generally vary between these levels.
Pivot points are used by Forex market investors and traders to identify any important support and resistance levels. The pivot point and the associated support and resistance levels are specific areas at which the price movement direction can possibly change. Short term traders are the ones who find pivot points the most useful because they are looking to take advantage of any small price variations. However, both range bound traders and breakout traders also use pivot points in the Forex market. Reversal points are identified by pivot points to benefit range bound traders, and this helps them to minimize their risks. Pivot points are used by breakout traders to recognize any key levels which may need to be broken so the move will be classified as a real deal breakout.
To calculate the pivot points and the associated support and resistance levels, traders use the last open, high, low, and close, from the last trading session. The New York closing time of four in the afternoon is used as the close of the previous trading day by most Forex traders, because the Forex market is a twenty four hour a day market. The specific calculation for the pivot point is Pivot Point(PP) = (High + Low + Close) / 3.
Pivot points are an excellent technical analysis tool for Forex market traders and investors because of their simplicity. These pivot points, along with the associated support and resistance levels, are calculated by traders by the previous trading day's session specifics. The formula to calculate pivot points is simple and easy to use, and by utilizing pivot points along with other technical analysis tools, including moving average crossovers and candlestick patters, Forex market traders can predict specific areas of price movement in the market. This allows traders to minimize their risk while maximizing their profits.


Should Refinancing Your Mortgage Be In Your Future?
by Joseph Kenny

Buying the house you wanted brought you a lot of joy. Soon, you moved in and were glad to get settled. You had your mortgage, and you may have gotten a larger house because you were able to get an adjustable rate mortgage. Here are some reasons, though, why you may want to think about refinancing that mortgage.
The Future Is Unpredictable
Adjustable rate mortgages allowed many people to get that larger house simply because it started out with lower payments - initially. However, if it has not started already, the day is coming when the fixed rate portion of your mortgage will soon be over. Once that happens, you can expect a jump in your rates because your payments will get a new interest rate. The new interest rate will be changed regularly - limited only by caps set by law.
You still may expect quite a jump - or it may stay steady, or even decrease - depending on the market. The possibility is there that it could become higher than you might be able to pay. This makes it potentially bad. Besides that, when rates do become higher, it may be too late to refinance. Every mortgage, at that time, will probably become unaffordable for most people.
Get A Better Interest Rate
If you watch the market rates, you will know when you have a good opportunity to get a better interest rate. Lower interest rates will mean that it is a good time to refinance your mortgage. It also means that you could lower your monthly payments and get a much more secure fixed rate mortgage.
It is also possible that if you did not have very good credit when you got your current mortgage, that you could see an even greater reduction in your interest rate. A better credit score results in better terms when you refinance, so you will also want to make sure it is in as good as shape as possible.
Reduce The Length For More Savings
You could save much more money if you are able to keep your payments about the same and shorten the time length on your mortgage. If you currently have 20 years left on your existing mortgage, reduce it to 10 or 15 years when you refinance for tremendous savings - if your can. This simple step will enable you to save tens of thousands of dollars over the remaining life of your new mortgage.
Get Cash From Your Equity
If you have lived in your home for a few years, then you will have some equity built up. Using your equity as a source of cash for whatever need or want you have is a good way to get a low interest loan - with time to pay it back. All you need to do is to add the cash you want to the total amount you need.
Keep in mind, though, that you will need to leave 20% of the value of your house untouched. If you get a loan for more than 80% of the value of your house, you will need to pay for private mortgage insurance.
Take enough time when you are trying to refinance your mortgage to get several quotes and compare them carefully. This will help you see which offers are really good. Do not limit yourself to looking just at the interest rate, but also consider the total amount of fees, as well as the overall cost of refinancing. You also want to make sure that there are no penalties for paying it off early.