So, what exactly is Me2Everyone?
Me2everyone will be a social networking site intertwined in a game like atmosphere, sort of a mix between the Myspace.com and Facebook realms and that of Secondlife. The rapid growth of the site will be attributed to the share program they are offering. Currently the members who register at Me2everyone.com will receive 250 shares of the company. Each referral they get will give them an additional 500 shares. The company claims that they will be trying to go public sometime in 2012, and has a goal of 0.58 pounds per share at the public launch. Thats about $650 pounds per referral if all go as planned. You are probably asking yourself why are they giving shares - By December 2012 they want at least 100,000,000 registered members and so they want your help to start spreading the word now. Of course anything can happen in 3 years, and startups like Me2everyone are not always easy to attract attention or turn a profit. After saying this, thus far I am rather pleased with the way things look.
We have been promised a few things that seem to make Me2Everyone an exciting venture for us all:
1. Membership owned
2. Very engaging User Experience
3. Engaging in site business proposals
4. There is the social networking side, business promotion, dating, gaming, shopping and virtually anything...
5. Presents real world value to everyone.
6. Fun and exciting, as well as addicting set up once it launches
If you are still interested after reading this you can use this link to register at Me2Everyone.com
Good luck and I will continue researching the site and adding to this blog post should I find out any more details.
Key Overnight Developments
• Australian Trade Surplus Widens in January as Imports Plunge
• Euro, British Pound Pull Back Ahead of Interest Rate Announcements
The Euro lost as much as -0.6% against the US Dollar in overnight trading, testing below the 1.26 level. The British Pound also saw selling pressure, testing as low as 1.4133. For complete analysis of all the major currency pairs, please see the latest weekly technical outlook report.
Asia Session Highlights
Australia’s Trade Balance issued a narrower surplus than expected in January, printing at A$970 million versus forecasts of a A$1.1 billion result. Still, the reading marks an improvement over a revised A$414 million surplus registered in the previous month as a drop in imports (-7.3%) outpaced the decline in exports (-5.0%). Consumer spending is likely to remain sluggish in the near to medium term as falling consumer confidence and a rising unemployment rate trim demand, opening the door for continued improvement in trading terms. On balance, the current trajectory sets the stage for strength in the long term outlook for the Australian Dollar against currencies corresponding to countries/regions where the external balance is expected to continue to deteriorate, such as the Euro and the Yen.
Euro Session: What to Expect
Signs of deepening recession will be on full display ahead of the pivotal interest rate announcement from the European Central Bank: German Retail Sales are expected to have decline -0.7% in the year to January, the third consecutive contraction; French Producer Prices are set to issue the first negative print in over 6 years, falling -0.4% in January from a year before; finally, the overall Euro Zone Gross Domestic Product is likely to show that the regional economy shrank -1.5% through the fourth quarter and -1.2% from the three months ending December 2007, the worst performance since the introduction of the single currency.
Against this backdrop, ECB president Jean-Claude Trichet is expected to announce a 50 basis point rate cut to bring the benchmark borrowing costs to 1.50%. Overnight index swaps suggest the reduction has already been priced in by the market, but also reveal that traders expect the central bank to shift to neutral going forward. Such as decision would take as given that economic activity will at worst find a stable bottom through this year, averting a slide into deflation. If the downturn lasts longer than currently expected however, the ECB may find itself forced to play catch-up having been noticeably less aggressive than other major central banks in easing monetary conditions. Indeed, while the European Commission expects the collective Euro Zone economy will shrink -1.9%, a survey of economists conducted by Bloomberg calls for a bleaker outcome at -2.2%. The implications for the Euro are decidedly bearish: the ECB has diligently built up expectations that rates will stabilize at 1.50%; an unexpected dovish shift in the commentary accompanying today’s release is likely to put significant selling pressure on the currency as traders scramble to price in the new yield outlook.
Considerable uncertainly also hangs over the interest rate announcement from the Bank of England. Economists’ forecasts call for a 50 basis point reduction to bring borrowing costs to a new historic low of 0.50%. Importantly, the market looks unconvinced for now as overnight index swaps show traders pricing in a neutral outlook for the next 12 months. This is not without reason: minutes from the last policy meeting revealed a reluctance to take rates lower for fear that this would hurt bank profitability. Rather, the MPC voted unanimously to seek government approval for quantitative easing. On the other hand, a pair of statements from BOE officials last week bolstered a dovish bias: Andrew Sentance warned of deflation and said there is “a strong case for providing additional stimulus” while David Blanchflower called monetary policy "overly restrictive". All told, British Pound volatility is the one thing that can be reasonably expected as the multitude of conflicting leads ahead of the BOE announcement is sure to catch at least some market participants off-guard.
Written by Ilya Spivak, Currency Analyst
Article Source - Forex Volatility Ahead on ECB, BOE Interest Rate Announcements (Euro Open)
Investment banks, especially, are trying to increase their forex business in order to compensate for a decline in other divisions. Said one representative: ”We have probably made more of an aggressive leapfrog in growing our revenue base, which has virtually doubled in 2008 versus 2007. With the situation that has been developing over the past six months, where banks are clearly re-embarking on a new role leading back to basics, foreign exchange has to be one of the products that tops that list.”
Based on New York data, which generally reflects global forex activity, transactions between the Dollar, Euro, and Yen (i.e. not including outside currencies) now account for more than half of the total.
Contrary to popular belief, however, most foreign exchange transactions involve derivatives, rather than spot trades. In the case of swaps, it is the nominal value of the swap that is reported, which well exceeds the total amount of currency that is exchanged, and thus results in an inflated estimate of total daily turnover.
One would expect that the increase in both liquidity and the role of derivatives in forex markets would result in a corresponding decrease in volatility. Of course, this is quickly belied by the turbulence of the last six months, in which many currency pairs set daily, weekly, and/or monthly records for swings and volatility.
I recently read an article about so-called “predictive markets,” which use a grassroots approach to make forecasts by “by giving people virtual trading accounts that allow them to buy and sell “shares” that correspond to a particular outcome. Shares in an outcome that is considered more likely to occur then trade at a higher price than those that represent a less likely outcome.” Given that the “experts” are almost invariably wrong, I think this idea has tremendous potential to make forex markets even more transparent.
What is Forex?
The foreign exchange market (Currency, Forex, or FX) is where currency trading takes place. It is where banks and other official institutions facilitate the buying and selling of foreign currencies. Forex transactions typically involve one party purchasing a quantity of one currency in exchange for paying a quantity of another. The foreign exchange market that we see today started evolving during the 1970s when world over countries gradually switched to floating exchange rate from their erstwhile exchange rate regime, which remained fixed as per the Bretton Woods system till 1971.
Today, the Forex market is one of the largest and most liquid financial markets in the world, and includes trading between large banks, central banks, currency speculators, corporations, governments, and other institutions. The average daily volume in the global foreign exchange and related markets is continuously growing. Traditional daily turnover was reported to be over US$3.2 trillion in April 2007 by the Bank for International Settlements. Since then, the market has continued to grow. According to Euromoney's annual Forex Poll, volumes grew a further 41% between 2007 and 2008.
Forex used to be a closed market because only the “big boys” because you needed between 10 and 50 million $ to open an account. But today, with the development of internet, online Forex brokers have the possibility to offer their services to “little” traders. All you need to start is a computer, fast internet connection and information which you can find on this page also.
This enormous market is like the dangerous sea where you can meet lots of sharks and dangerous waters but at the same time it is the only one where two weeks of trading can hypothetically bring you $1,000,000 out of $1,000 of initial investment.
This is certainly hypothetically because a lot of newbie traders deal with their trades as gambling, that surely bring them to having nothing in the end. You should always keep the phrase "be careful!" in your mind. This market would give you its profit possibilities only if you learn the basic things hard and make lots of demo trading.
The statistics is that as much as 95% of traders come to losing their money at Forex, 5% have profit and less than 1% of traders make large fortune at Forex. You shouldn't produce, sell or advertise anything trading at Forex. Your assets are your knowledge, experience and a small amount of cash.
This market is a platform for banks, transnational corporations and individual traders to change the currencies they possess into other ones. This is the spot Forex market. At this market you can trade with up to 1:400 leverage which means that you'll get $400 on your account for each dollar invested. So, you can trade with the $400,000 sum having invested $1,000 onto your account.
Why to trade on Forex?
1. There is no commission fee for trading at Forex.
2. There is no intermediary, you can trade directly at Forex.
3. Forex is open 24-hours a day.
4. Nobody can influence the market for a longer period.
5. High liquidity.
6. Free demo accounts, analysis and charts.
7. Small accounts that allow everyone to try out his luck.
Hope this has answered a lot of questions you were asking yourself about Forex and that you can now start trading. Also make sure that you check out other articles on this blog which can help you earn your fortune.
Good luck to everyone!