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EarnForex.com Monthly Newsletter
*March 4, 2014*
Welcome to the latest issue of EarnForex.com newsletter — March
2014.
In this issue of EarnForex.com newsletter I will remind you about the
most important Forex-related events of the last month and will also
show you the list of the site's latest updates.
*
EDITORIAL: Backtesting Fallacies*
Backtesting is a very important part of a trading process. Every
strategy you employ should be properly backtested.
It is vital not to be misled by any of these common fallacies:
/Any MetaTrader 4 or MetaTrader 5 backtest is equally useful./ Only
90% modeling quality in MT4 and 99% modeling quality in MT5 signal a
good level of backtest results' reliability.
/MetaTrader is the best software for backtesting./ Specialized testing
software is far superior. Examples: ForexTester
<http://www.forextester.com/>
or Kantu System Generator
<http://mechanicalforex.com/kantu-system-generator>
.
/Optimization leads to better trading systems./ Optimization is an
easy road to curve-fitting. By the way, in addition to usual parameter
over-optimization, it is important not to over-optimize with
system-fitting when thousands of systems are applied to get the ones
that work with the current chart.
/One year of backtesting data is enough./ Though it may seem enough
for some short-term trading system. The problem is that 1-year
backtest will miss a lot of important market situations that just may
have been absent during that particular one year.
/Resulting profit is the only important indicator of system's
robustness./ In addition to profit, which is really important, you
have to watch out for drawdowns, symmetry of trades (number of shorts
is about the same as the number of longs), high Sharpe ratio, etc. Our
report analyzer
<http://www.earnforex.com/report-analysis/?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
can help you to analyze your backtesting results more deeply.
In the end, it is necessary to remember that backtesting is just a
step before forward testing of your system on a demo account.
*
Overview of the major currency pairs' performance in February*
*EUR/USD* — rallied upwards in February. It was at the maximum at
1.3824 on February 28, at its minimum at 1.3477 on February 3,
finishing the month at 1.3802.
*GBP/USD* — rallied during the first half of the month and
consolidated during the second half. The highest monthly rate was at
1.6822 on February 17, while the lowest — at 1.6252 on February 5.
GBP/USD finished February trading at 1.6739.
*USD/JPY* — posted an M-pattern with a slight upward tilt. The pair
rose to as high as 102.82 on February 21, reaching a bottom at 100.75
on February 4 and closing the month with the 101.78 rate.
*EUR/JPY* — rose up until the last trading week of the month. The
monthly high was at 141.25 on February 21, the monthly low — at
136.22 on February 4. Trading ended at 140.46 for this currency pair.
*GBP/JPY* — behaved much similarly to GBP/USD. The maximum level for
this pair was 171.86 on February 18, while the minimum — 163.87 on
February 4. The month's trading ended at 170.33 for GBP/JPY.
*
Fundamental background of the past month*
The dollar was soft in February as fundamental reports were bad for
the most part. Nonfarm payrolls demonstrated very small jobs growth
<http://www.topforexnews.com/2014/02/07/nfp-disappoint-yet-dollar-weaker/?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
, hurting the greenback at the beginning of the month, and the
currency retained weakness untill the very end of February
<http://www.topforexnews.com/2014/02/27/domestic-fundamentals-hurt-dollar-yet/?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
.
The euro, on the other hand, fared far better. The shared European
currency started the month a bit weak
<http://www.topforexnews.com/2014/02/08/euro-mixed-week-policy-decisions/?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
, but quickly regained its footing and surged
<http://www.topforexnews.com/2014/02/14/euro-reaches-three-week-high-us-dollar/?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
to a three-week high against the dollar. The euro lost some of its
power
<http://www.topforexnews.com/2014/02/27/euro-drops-speculation-next-weeks-ecb-meeting/?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
on concerns that the European Central Bank may add stimulus on the
March policy meeting, but the currency recovered as the threat of
deflation diminished, allowing the euro to end the month relatively
strong
<http://www.topforexnews.com/2014/03/01/euro-trims-weekly-losses-ahead-ecb-meeting/?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
.
February was not a bad month for the Great Britain pound either. The
currency also started the month with losses
<http://www.topforexnews.com/2014/02/03/uk-data-misses-forecasts-pound-drops/?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
but became to the best performer
<http://www.topforexnews.com/2014/02/15/uk-pound-top-performer-week/?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
on the Forex market later. The sterling lost its bullish momentum
<http://www.topforexnews.com/2014/02/22/pound-retreats-week-gains/?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
for a time but ended the month on a high note
<http://www.topforexnews.com/2014/03/01/gbp-ends-session-higher-vs-usd-flat-vs-jpy-soft-vs-eur/?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
.
The Japanese yen was attempting to rally
<http://www.topforexnews.com/2014/02/26/yen-rallies-hurts-carry-traders/?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
by the end of February but had been weak
<http://www.topforexnews.com/2014/02/17/yen-drops-economic-growth-misses-forecasts/?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
for the most part of the month.
The Canadian dollar was flat as economic reports were often mixed
<http://www.topforexnews.com/2014/02/28/cad-mixed-confusing-gdp-report/?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
. Australia's dollar was rising with the help of domestic
<http://www.topforexnews.com/2014/02/11/positive-economic-indicators-support-bullish-momentum-aussie/?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
and Chinese
<http://www.topforexnews.com/2014/02/12/aussie-maintains-rally-help-chinese-economic-data/?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
data, but trimmed gains
<http://www.topforexnews.com/2014/02/28/fundamentals-favor-aussie/?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
by the end of the month. The New Zealand dollar was also strong
<http://www.topforexnews.com/2014/02/12/kiwi-follows-growth-related-currencies-gains/?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
.
Gold was very strong too, rising above the $1,300 mark.
<http://www.commodityblog.com/gold-climbs-above-1300-losses-of-oil-limited/?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
*
Advertisement*
*MFX Broker doubles your deposits! 100% Bonus for New Clients!*
*MFX Broker <http://masterforex.com/en/?aid=393307>
increases any start deposit by 100%!*
Only since February, 17 till March, 8! Have time to get double money,
double chances, and double profit!
/The promotion is held for all new clients of the company./
To get the bonus: register in Personal Cabinet
<https://cabinet.masterforex.org/a/?lang=en&aid=393307>
, make a deposit from $5, and make a query for the bonus. *Your trade
begins with presents from MFX Broker!*
*
Interest rate changes in February*
Country
Old Rate
Change
New Rate
*Brazil*
10.50%
+0.25%
10.75%
*Chile*
4.50%
-0.25%
4.25%
*Hungary*
2.85%
-0.15%
2.70%
*Romania*
3.75%
-0.25%
3.50%
*
Top 5 Forex brokers of the last month*
The top 5 Forex brokers, as reviewed by the visitors of EarnForex.com
<http://www.earnforex.com/?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
are the following:
FreshForex
<http://www.earnforex.com/forex-brokers/FreshForex?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
— 10
GAINSY
<http://www.earnforex.com/forex-brokers/GAINSY?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
— 10
Tradenext
<http://www.earnforex.com/forex-brokers/Tradenext?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
— 10
3TG Brokers
<http://www.earnforex.com/forex-brokers/3TGBrokers?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
— 10
AForex
<http://www.earnforex.com/forex-brokers/AForex?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
— 10
To qualify for the position in this list, a Forex broker should have
at least 3 qualified reviews. Do not forget to review your favorite
broker
<http://www.earnforex.com/forex-brokers/?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
if you have not done so already.
*
Forex e-books*
No new Forex books have been published on EarnForex.com since
the last issue of the newsletter, but you can always browse the
previously
uploaded books
<http://www.earnforex.com/forex-e-books/?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
.
*
Forex articles*
One new Forex article has been published on EarnForex.com since
the last issue of the newsletter:
Getting Insights with Forex Trading Signals
<http://www.earnforex.com/articles/getting-insights-with-forex-trading-signals?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
You can always browse the previously
uploaded articles
<http://www.earnforex.com/forex-articles?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
.
*
Forex brokers*
One new Forex broker has been added to EarnForex.com since the
last issue of the newsletter:
MXT Global
<http://www.earnforex.com/forex-brokers/MXTGlobal?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
— an Australian Forex broker regulated by ASIC. $100 minimum
account size combined with low spreads and MetaTrader 4 platform.
You can always view our full
list of Forex brokers
<http://www.earnforex.com/forex-brokers/?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
.
*
Forex VPS providers*
No new Forex VPS providers have been added to EarnForex.com
since the last issue of the newsletter, but you can always browse the
previously
added VPS companies
<http://www.earnforex.com/forex-vps-hosting?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
.
*
MetaTrader indicators*
No new MetaTrader indicators have been added to EarnForex.com
since the last issue of the newsletter, but you can always view the
previously
uploaded
Forex indicators
<http://www.earnforex.com/metatrader-indicators?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
.
*
MetaTrader expert advisors*
One new expert advisor has been added to EarnForex.com since
the last newsletter issue:
Weekly Breakout
<http://www.earnforex.com/metatrader-expert-advisors/WeeklyBreakout?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
You can always browse the previously added
MetaTrader EAs
<http://www.earnforex.com/metatrader-expert-advisors/?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
.
*
Forex polls*
Two new polls have been posted in the EarnForex blog
<http://www.earnforex.com/blog/?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
:
Is High-Frequency Trading Good or Bad?
<http://www.earnforex.com/blog/high-frequency-trading-in-forex-good-or-bad//?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
Best Indicator for Divergence Trading?
<http://www.earnforex.com/blog/best-indicator-for-divergence-trading/?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
You can also browse the full list of
Forex polls
<http://www.earnforex.com/blog/tag/forex-poll/?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
from
EarnForex.com.
*
Forex strategies*
No new Forex strategies have been added to EarnForex.com since
the last issue of the newsletter, but you can always browse the
previously added
Forex strategies
<http://www.earnforex.com/forex-strategy/?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
.
*
Forum*
Top 5 hot topics on EarnForex
Forum
<http://www.earnforex.com/forum/?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
started in February:
Daily analysis of market volumes and trading recommendations
<http://www.earnforex.com/forum/f7/daily-analysis-market-volumes-trading-recommendations-16595/?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
Should we return to the gold standard?
<http://www.earnforex.com/forum/f4/should-we-return-gold-standard-16561/?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
What is the best condition for scalping.
<http://www.earnforex.com/forum/f10/what-best-condition-scalping-16569/?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
Are you looking for excuses?
<http://www.earnforex.com/forum/f4/you-looking-excuses-16559/?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
Weekly Breakout
<http://www.earnforex.com/forum/f13/weekly-breakout-16685/?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
*
Forex industry news*
There were the following important Forex industry news since the
last issue of the newsletter:
More brokers embrace the idea of cryptocurrencies and now use Bitcoin
(and similar currencies) both for trading and deposit/withdrawal
methods:
FXOpen
<http://www.earnforex.com/forex-brokers/FXOpen?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
and InstaForex
<http://www.earnforex.com/forex-brokers/InstaForex?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
.
MetaQuotes <http://www.metaquotes.net/>
releases a major update
<http://www.mql5.com/en/forum/53/page15#comment_775753>
of its MetaTrader 5 platform, adding,
among other things, support for in-platform purchases and reading of
Forex-related magazines and books.
*
Until the next newsletter issue!*
That's all for the March issue of the EarnForex.com
newsletter. If you have questions, comments or just want to see
something else
in the next monthly issue, please let us know
<http://www.earnforex.com/contact?utm_source=newsletter&utm_medium=email&utm_campaign=n201403>
.
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