NEW YORK (Reuters) - The dollar slipped against the yen on Monday, as U.S. stocks fell, with investors growing nervous about more hedge fund failures related to rising U.S. subprime mortgage defaults.
On Wall Street, U.S. stock indexes, which turned negative in late trading after posting gains earlier, were also weighed down by a recovery in oil futures, analysts said. U.S. crude oil futures traded on the New York Mercantile Exchange rebounded from early lows to close slightly above $69 per barrel.
"The fall in dollar/yen was pretty much due to the drop in stocks and there has been a very high correlation between the two," said Brian Dolan, chief currency strategist, at Forex.com in Bedminster, New Jersey.
"It's general jitters and people are hearing a fair amount of scuttlebutt around about other hedge fund failures waiting in the wings. People tend to buy the yen and sell the dollar when there's general uncertainty around," he added.
In times of increased risk aversion, investors tend to sell high-yielding but risky assets funded by the low-yielding yen.
In late New York trading, the dollar slipped 0.2 percent against the yen to 123.59 yen, down from Friday's peak of 124.16 yen, which was the highest since December 2002.
The euro also fell in tandem, down 0.2 percent at 166.49 yen, having reached a record high of 166.94 yen the previous session according to electronic trading platform EBS.
The euro was flat against the dollar at $1.3469, while sterling traded almost unchanged at $1.9981, having popped above the $2 mark for the first time in almost two months.
The Swiss franc, another low-yielding currency with interest rates of 2.5 percent, also drew some bids, pushing the dollar 0.1 percent lower at 1.2274 francs. The euro likewise eased 0.1 percent to 1.6536 francs.
Analysts said a Merrill Lynch report on Monday suggesting Bear Stearns Cos. Inc. may have to bail out a second troubled hedge fund it manages that invested in risky subprime mortgages, fueled nervousness in the currency and stock markets.
The investment bank earlier said it had provided up to $3.2 billion in secured financing to a fund it manages that was down about 5 percent through the four months ended April 30.
Foreign exchange trading was generally quiet, with currencies moving in narrow ranges ahead of a two-day Federal Reserve policy meeting. Investors will look to this meeting for clues on where benchmark U.S. interest rates are headed.
Investors also face a lot of fresh U.S. economic data this week and will pay particular attention to durable goods orders figures for May on Wednesday as well as May core personal consumption expenditures data on Friday.
"Investors are marking time and consolidating ahead of the Fed," said Alex Beuzelin, a senior market analyst at Ruesch International in Washington.
The Fed is expected to leave its benchmark interest rate unchanged at 5.25 percent when it concludes a two-day monetary policy meeting on Thursday.
On Monday, however, short-term rate futures had priced in a 44 percent implied chance the Fed will cut rates in 2007, up from 32 percent on Friday and 2 percent a week ago. Perceived prospects for a rate cut by the end of September are now at 22 percent.
Source http://www.forex.com/07-06-25.html
7/03/2007
Forex e-book has everything you need
This book shows you everything you need to know to start trading Forex. It addresses the reader at eye level, in a friendly and simple manner. Yet, it provides a professional study of the most popular techniques implemented today by Forex traders worldwide. This book offers useful and valuable background, including technical methods, trading tips, Forex glossary, chart reading, and financial indicators used in Fundamental Analysis.
Dollar Mixed After Housing Report
NEW YORK (MarketWatch) -- The dollar fell from a four-and-a-half year high against the yen but traded higher against the euro Tuesday, after broadly in-line housing figures did little to alter market expectations that the Federal Reserve will keep interest rates steady for some time.
The euro slightly trimmed its losses against the dollar following mixed housing starts and building permits data. Earlier, the euro came under some pressure after a report showed German business sentiment fell much more than expected in June.
"The buck just dodged a bullet as housing data came in...slightly better than expected," said Brian Dolan, chief currency strategist at Forex.com, a division of Gain Capital. "The market had been bracing for a softer number...so the weak housing market remains in the picture, but [there was] no immediate sign of a further deterioration in May's data."
In New York trading, the dollar was quoted at 123.35 yen, compared with 123.62 yen late Monday. The euro stood at $1.3405, compared with $1.3408.
The British pound stood at $1.9883, compared with $1.9830. The dollar changed hands at 1.2404 Swiss francs, compared with 1.2419 francs.
The euro was at 165.41 yen, compared with 165.76 yen, after touching an all-time high at 166.09 yen.
Housing starts
Starts of new homes in the United States fell by 2.1% to 1.47 million in May, as building permits for new construction rose 3% to 1.50 million, the Commerce Department said Tuesday.
The figures were slightly stronger than expected in a survey of economists by MarketWatch. Both starts and permits had been forecast to fall to 1.46 million.
The report comes a day after the National Association of Home Builders said its housing market index fell to its lowest level in 16 years.
"Today's report does not alter the mixed picture of U.S. housing and sends the focus to next week's reports of new and existing home sales," said Ashraf Laidi, chief foreign-exchange analyst at CMC Markets in New York.
German business sentiment
Elsewhere, the euro came under pressure after a report showed the Zew indicator of German economic expectations pulled back to 20.3 in June, down from 24.0 in May.
Economists had been expecting a reading of 29. The Zew current conditions indicator inched up to 88.7 in June, from 88.0 in May.
The drop in the ZEW index is "an ominous reminder that the German recovery is still skating on thin ice," said David Brown, chief European economist at Bear Stearns, in a note.
"This is another piece in the jigsaw that suggests the [European Central Bank] needs to tread carefully on rates ahead and that a target of 4.25% ... is more appropriate than the 4.50% or higher that the market is now looking for," he said.
Source http://www.forex.com/07-06-19.html
The euro slightly trimmed its losses against the dollar following mixed housing starts and building permits data. Earlier, the euro came under some pressure after a report showed German business sentiment fell much more than expected in June.
"The buck just dodged a bullet as housing data came in...slightly better than expected," said Brian Dolan, chief currency strategist at Forex.com, a division of Gain Capital. "The market had been bracing for a softer number...so the weak housing market remains in the picture, but [there was] no immediate sign of a further deterioration in May's data."
In New York trading, the dollar was quoted at 123.35 yen, compared with 123.62 yen late Monday. The euro stood at $1.3405, compared with $1.3408.
The British pound stood at $1.9883, compared with $1.9830. The dollar changed hands at 1.2404 Swiss francs, compared with 1.2419 francs.
The euro was at 165.41 yen, compared with 165.76 yen, after touching an all-time high at 166.09 yen.
Housing starts
Starts of new homes in the United States fell by 2.1% to 1.47 million in May, as building permits for new construction rose 3% to 1.50 million, the Commerce Department said Tuesday.
The figures were slightly stronger than expected in a survey of economists by MarketWatch. Both starts and permits had been forecast to fall to 1.46 million.
The report comes a day after the National Association of Home Builders said its housing market index fell to its lowest level in 16 years.
"Today's report does not alter the mixed picture of U.S. housing and sends the focus to next week's reports of new and existing home sales," said Ashraf Laidi, chief foreign-exchange analyst at CMC Markets in New York.
German business sentiment
Elsewhere, the euro came under pressure after a report showed the Zew indicator of German economic expectations pulled back to 20.3 in June, down from 24.0 in May.
Economists had been expecting a reading of 29. The Zew current conditions indicator inched up to 88.7 in June, from 88.0 in May.
The drop in the ZEW index is "an ominous reminder that the German recovery is still skating on thin ice," said David Brown, chief European economist at Bear Stearns, in a note.
"This is another piece in the jigsaw that suggests the [European Central Bank] needs to tread carefully on rates ahead and that a target of 4.25% ... is more appropriate than the 4.50% or higher that the market is now looking for," he said.
Source http://www.forex.com/07-06-19.html
6/27/2007
Forex Broker: Choosing the right Forex Broker
Sometimes it's hard to make a decision on which Forex broker to open our trading account, there are just too many of them. Most of them have different features, capabilities, weaknesses and advantages, for this reason I have created a checklist that can help you decide the broker to use in your Forex adventure.
1. Is it regulated?
The first question you have to ask yourself is: is the broker I want to use Regulated ? There must be no doubt about this first point. All regulated brokers must submit financial reports to regulatory authorities, and when they fail to do it, authorities have the right to fine them or terminate their membership. This enforces Forex brokers to keep transparent financial reports.
The brokers must be regulated by their local regulatory authorities, for instance, for brokers based in the US , they must be regulated by the NFA (National Futures Association) and CFTC (Commodity Futures Trading Commission), Swiss based brokers must be regulated by the FDF (Swiss Federal Department of Finance) and so on.
Also when a Forex broker is regulated allows investors to dispute any resolution, increasing the investor protection.
2. Trading Conditions
This point refers to the features of the trading platform and the trading conditions with the chosen broker. Amongst the most important factors are:
Spread - Obviously the smaller the spread on currency pairs the better the conditions are for investors and traders.
Platform execution - Trading execution refers to how fast and consistent are the execution of trades. Some brokers guarantee fast and transparent executions during normal market conditions.
Fractional trading – Some brokers allow investors and traders to trade on a fractional basis, instead of trading full lots “100,000 units” or “300,000 units”, they allow you to trade “163,345 units” or “325,911 units”. This is very helpful for trades risking certain percentage of their balance on each trade.
Safety of funds – We need to make sure our trading funds are kept in a segregated account or at least insured.
- Forex Blog
- Forex Resources
- Course Demo
- Compare Courses
- Free Course
- New to Forex?
- Affiliates
Trading platform – Easy to use and understand platform, is it reliable during fast moving markets? And what extra features it offers such as: one click buying/selling, trading directly from a chart, supports mobile devices, trailing stops, etc.)
Minimum investment – What is the minimum amount of money required to open a trading account? This aspect is very useful because before trading your full account, you need to test the waters and see how well you perform with an account with limited funds (after trading a demo account).
Margin (leverage) – What kind of leverage can be used with the chosen broker? Just to make sure our leverage requirements by our Forex strategy and methodology (leverage above 100:1 is not advisable).
Commissions – Some brokers charge commission, it is ok if they do if the spread is smaller than other brokers.
3. Diligence
Hopefully you have eliminated most brokers at this point. You should have 3 or 4 finalists. In this step do your diligences on forums, ask other traders about their experiences using their brokers, and so forth.
Some forums where you can ask for broker information are: ForexFactory, MoneyTec, ForexNews.
If brokers are registered by their local regulatory authorities, you can visit the regulator website and you will find plenty of information about Forex brokers. Some of them publish resolutions regarding Forex brokers.
Amongst the aspects you should ask and get informed are:
Customer service – This aspect is the most important of them all, are they rude to customers? Are they willingly to help customers? These are the questions you should ask in forums and fellow traders.
Slippage – Slippage is the difference between the price where the trade was executed and actual value of it. Do they honor stop loss and take profit levels? Do they guarantee it? If any one had any discrepancies, did their broker revert the result?
Manual execution – Some brokers don't like scalpers, if they catch someone doing it, they will put this trader into manual execution, so a dealer (human) must accept all transactions made by this trader. Do they do this?
Re-quotes – a re-quote happens when you click the buy/sell button and the platform doesn't accept our price, so it will give us another quote for that particular trade.
4. Testing
In this phase we should test our Forex broker, first on a demo account to see how it works, also test your system to see how it performs. If you are satisfied with the results, then try the same platform with limited funds to see how it performs on real trades. If you are satisfied again then open your full trading account with the chosen broker.
I hope this checklist help you all traders to take the right decision when choosing brokers.
http://www.straightforex.com/forexbrokers.html
1. Is it regulated?
The first question you have to ask yourself is: is the broker I want to use Regulated ? There must be no doubt about this first point. All regulated brokers must submit financial reports to regulatory authorities, and when they fail to do it, authorities have the right to fine them or terminate their membership. This enforces Forex brokers to keep transparent financial reports.
The brokers must be regulated by their local regulatory authorities, for instance, for brokers based in the US , they must be regulated by the NFA (National Futures Association) and CFTC (Commodity Futures Trading Commission), Swiss based brokers must be regulated by the FDF (Swiss Federal Department of Finance) and so on.
Also when a Forex broker is regulated allows investors to dispute any resolution, increasing the investor protection.
2. Trading Conditions
This point refers to the features of the trading platform and the trading conditions with the chosen broker. Amongst the most important factors are:
Spread - Obviously the smaller the spread on currency pairs the better the conditions are for investors and traders.
Platform execution - Trading execution refers to how fast and consistent are the execution of trades. Some brokers guarantee fast and transparent executions during normal market conditions.
Fractional trading – Some brokers allow investors and traders to trade on a fractional basis, instead of trading full lots “100,000 units” or “300,000 units”, they allow you to trade “163,345 units” or “325,911 units”. This is very helpful for trades risking certain percentage of their balance on each trade.
Safety of funds – We need to make sure our trading funds are kept in a segregated account or at least insured.
- Forex Blog
- Forex Resources
- Course Demo
- Compare Courses
- Free Course
- New to Forex?
- Affiliates
Trading platform – Easy to use and understand platform, is it reliable during fast moving markets? And what extra features it offers such as: one click buying/selling, trading directly from a chart, supports mobile devices, trailing stops, etc.)
Minimum investment – What is the minimum amount of money required to open a trading account? This aspect is very useful because before trading your full account, you need to test the waters and see how well you perform with an account with limited funds (after trading a demo account).
Margin (leverage) – What kind of leverage can be used with the chosen broker? Just to make sure our leverage requirements by our Forex strategy and methodology (leverage above 100:1 is not advisable).
Commissions – Some brokers charge commission, it is ok if they do if the spread is smaller than other brokers.
3. Diligence
Hopefully you have eliminated most brokers at this point. You should have 3 or 4 finalists. In this step do your diligences on forums, ask other traders about their experiences using their brokers, and so forth.
Some forums where you can ask for broker information are: ForexFactory, MoneyTec, ForexNews.
If brokers are registered by their local regulatory authorities, you can visit the regulator website and you will find plenty of information about Forex brokers. Some of them publish resolutions regarding Forex brokers.
Amongst the aspects you should ask and get informed are:
Customer service – This aspect is the most important of them all, are they rude to customers? Are they willingly to help customers? These are the questions you should ask in forums and fellow traders.
Slippage – Slippage is the difference between the price where the trade was executed and actual value of it. Do they honor stop loss and take profit levels? Do they guarantee it? If any one had any discrepancies, did their broker revert the result?
Manual execution – Some brokers don't like scalpers, if they catch someone doing it, they will put this trader into manual execution, so a dealer (human) must accept all transactions made by this trader. Do they do this?
Re-quotes – a re-quote happens when you click the buy/sell button and the platform doesn't accept our price, so it will give us another quote for that particular trade.
4. Testing
In this phase we should test our Forex broker, first on a demo account to see how it works, also test your system to see how it performs. If you are satisfied with the results, then try the same platform with limited funds to see how it performs on real trades. If you are satisfied again then open your full trading account with the chosen broker.
I hope this checklist help you all traders to take the right decision when choosing brokers.
http://www.straightforex.com/forexbrokers.html
Forex Trading Moving Average Convergence/Divergence (MACD)
Forex trading Moving average convergence divergence (MACD), is one of the most popular technical analysis indicators available for traders.
One of the biggest advantages of this indicator is that it can be used either as a trend or as a momentum indicator. The MACD calculates the difference between the 26th day and the 12th day exponential moving average indicator(EMA). The 12-day EMA is the faster indicator and the 26-day is the slower one. These measures use the closing prices of the period that is measured.
The 9th day EMA is also used for MACD, in order to calculate triggers for buy and sell orders. One of the reasons for EMA's popularity is its wide use in global forex trading, relative to its ease and friendliness of use.
A bullish signal is generated when the MACD gets above the 9th day EMA.
The MACD sends a sell sign when it moves below its 9-day EMA.
The MACD histogram
The MACD histogram is the representation of the difference between MACD and the 9-day EMA. The histogram is positive when MACD is above its 9-day EMA and negative when MACD is below its 9-day EMA. For rising speed of prices the MACD histogram grows larger. The histogram contracts, on the other hand, for price speed decrease.
Traders use the MACD to evaluate the momentum and the strength of a trend, rather that for estimating trend direction, because it measures price movement speed.
Trading divergence
Sometimes the prices will make a new swing high or swing low, while the MACD will not. This is called a Forex trading divergence. This indicator is not accurate, and should not be relied upon.
http://www.fxinfo.com/macd-indicator.html
One of the biggest advantages of this indicator is that it can be used either as a trend or as a momentum indicator. The MACD calculates the difference between the 26th day and the 12th day exponential moving average indicator(EMA). The 12-day EMA is the faster indicator and the 26-day is the slower one. These measures use the closing prices of the period that is measured.
The 9th day EMA is also used for MACD, in order to calculate triggers for buy and sell orders. One of the reasons for EMA's popularity is its wide use in global forex trading, relative to its ease and friendliness of use.
A bullish signal is generated when the MACD gets above the 9th day EMA.
The MACD sends a sell sign when it moves below its 9-day EMA.
The MACD histogram
The MACD histogram is the representation of the difference between MACD and the 9-day EMA. The histogram is positive when MACD is above its 9-day EMA and negative when MACD is below its 9-day EMA. For rising speed of prices the MACD histogram grows larger. The histogram contracts, on the other hand, for price speed decrease.
Traders use the MACD to evaluate the momentum and the strength of a trend, rather that for estimating trend direction, because it measures price movement speed.
Trading divergence
Sometimes the prices will make a new swing high or swing low, while the MACD will not. This is called a Forex trading divergence. This indicator is not accurate, and should not be relied upon.
http://www.fxinfo.com/macd-indicator.html
Day Trading the Forex Market Profitably
Being a forex day trader can be very lucrative. The currency market is by far the most liquid and volatile market in the world and with this come various opportunities. No matter what type of market you chose to day trade you must know the “personality” of the market you are trading. Every market has it’s own characteristics and it is important to know what they are before attempting to profit from it. The forex market is no different. In this article we will go over very important general day trading principles/rules and then we will see what a day trader has to recognize when specifically day trading the forex market.
As the term implies, day traders are concerned with what happens in the market today. Not tomorrow, not next week and not next month, but today. The day trader’s job is to capture intraday price swings. Depending on the system or trading method employed, this can mean capturing one intraday swing or various intraday swings. The general job of a day trader is (then we will go over the more specific job of the forex day trader):
To control risk
One of the most important jobs as a day trader is to control your risk exposure. Sure, controlling risk is a concept you must use in any type of trading, however in day trading you must look at this issue from a different angle. Since your job is to capture various price swings during the day naturally your profit objectives will be much smaller than that of a swing trader (who places a single trade aiming for a much larger profit objective). So, when placing several trades during the day it can be easy to “drift” away from your pre-determined stop loses. A common (very common actually!) day traders thought is “if I extend my stop loss just a bit I hope the market will turn around”! Hope is one of the trader’s biggest enemies. These little extensions of stop losses add up and suddenly without noticing you are losing more dollars per trade than planed making your risk/reward ratio turn against you.
To be disciplined
This principle is key for any type of trading but particularly for day trading. If I had to name one single aspect of a day trader that can make him or her a winner or a loser it is discipline. You can have a so-so system but still make money if you are disciplined. However, you can have the best trading system in the world but if you are not disciplined I guarantee you will not be a successful trader. So, what is all this discipline everyone talks about when discussing trading? Very simple, it’s respecting and strictly following your trading plan, your trading system, your money management rules, and your commitment to the business. Being disciplined with regard to each and everyone of these components is essential for your success.
It is so easy to deviate from your trading plan, the rules of your trading system or any of the above mentioned components, especially when day trading. Why? Two reasons. First, because the trader is trading very frequent and does not have time to cool down, think, and evaluate. Second, because reality is replaced by hope. Your trading system rules (reality) says: “get our of the trade” hope says “hang in there, maybe it will still be profitable”. Your money management rules (reality) say “risk only 2% of your account on this trade” hope says “since I lost on the last trade I will risk 4% on this next one so I can make up for the loser and also be profitable”. Your trading plan (reality) says “trade each day 4 hours, give yourself Wednesday or Thursday a vacation to rest” hope says “Since I am not doing very well now I don’t need this rest day, and I will also trade 7 hours per day to make up”. I know (not hope!) you now understand the point!
To focus on the appropriate time frame
As a day trader your primary concern is to catch intraday swings. Your trades start and finish the same day. Your world is the day you are trading in. You don’t care what will happen in the market tomorrow or the day after tomorrow. Your objective when trading is focusing on the appropriate time frame chart. My opinion is that day trading should be done on a 1, 5 or 10 minute bar chart. Remember, you are looking to capture several fast moves during the day and hence you must focus on the charts that best illustrate events as they happen in a short period of time. However, the fact that you are day trading on a 1,5 or 10 minute bar chart does not mean you can’t use a larger time frame chart for the purpose of analysis. This however, is very subjective and depends very much on the traders strategies and methods of trading. As an example, many day traders would look at one hour bar charts in order to have a view of how the market has been behaving in the last week. Is it moving sideways (and so maybe I should only place trades between support and resistance areas)? Is it trending (and so maybe I should only be looking at placing trades in the direction of the higher time frame trend)? Are there any major support and/or resistance levels I should be aware of (areas where I should refrain from placing trades since it is uncertain how the market will react when reaching them)? Did the market brake out of a congestion area?
Again, it is very subjective. Some day traders believe that with proper larger time frame analysis they can select better day trades. My personal opinion is that the more you analyze the more conflicts you will have and the more uncertainties will appear (especially if you are new to trading). I like making things simple and I found it very useful when trading (proof of this is that all of the trading systems I use are 100% mechanical). Don’t get me wrong, this is not to say that larger time frames should not be used at all for analysis purposes. But, try to keep it simple and if you see that looking at larger time frame charts interferes with your correct decision process when placing day trades then simply stop.
To trade volatile and liquid markets
Since your job as a day trader is to capture intraday swings it is crucial that the market you are trading has enough movement to allow you to do this. It is also important that the market you are trading has enough liquidity so that order fills do not suffer from excessive slippage. You have to select a market that it’s volatility is permanent and not a temporary occurrence. Since you are basing your trading method on catching intraday price swings you have to know that you are trading in the right place. As a day trader volatility is your allay and you have to know that you can count on it every single day (or at least 90% of the days). Liquid markets will provide you with good order fills. As a day trader this is very important since you are aiming at smaller profit objectives and hence larger slippage will eat away more of your profits. When trading several times a day this adds up and can be the difference between success and failure.
As a forex day trader you have to apply all the above rules and principles plus other criteria that are unique to the forexmarket.
Time of day trading
The forex market is a 24 hour market. Never stops except on weekends. Within this 24 hour period different currencies behave in different manners. As a day trader it is very important to know the “personality” of the currency you are trading. For example, the GBP/USD is more volatile in early to mid European session than any other liquid pair. For a day trader trading in these hours it would be wise to take advantage of the price swings the GBP/USD pair offers instead of trading some other currency pair that constantly shows no movement. The USD/CAD pair is “silent” in the early to mid European session but starts to have more price movement toward the start of the US session. Every time Non Farm Payroll is released most if not all currency pair have a very small price range up to release time. As a day trader it wouldn’t be wise to trade during these pre-announcement hours with strategies that are based on breakouts. It would probably be smarter to use strategies that are based on range support and resistance.
Spread and liquidity
Forex brokers don’t charge you a commission for every trade you make (at least most forex brokers). Instead, they make their profit on the bid/ask spread which is measured in pips. As a forex day trader you are aiming at capturing small price swings sometimes several time per day. Also, your profit objectives are obviously much smaller than the swing trader’s profit objectives. All this means one thing: every pip counts. You cannot afford to trade currency pairs with large spreads, if you do your profit will get eaten up to a point where you will not be trading with an adequate risk/reward ratio. Forex day trading must be done with liquid pairs. Most forex brokers will provide you with a very narrow spread for the most liquid currency pairs. As an example, many brokers are now offering a 2 pip spread for EUR/USD and USD/JPY and a 3 pip spread for USD/CHF and GBP/USD. These are the most liquid pairs and the ones a day trader should focus on.
Volatility
As a day trader volatility is you friend, a friend you cannot afford to trade without. In it’s basic definition, volatility is simply the amount of price change with relation to time. Volatile currency pairs have various price swings (price changes) during a small period of time (one day). These price swings are what a day trader lives on. In the forex market volatility many times comes hand in hand with liquidity. The most liquid pairs are the ones that are the most volatile. The big 4: EUR/USD, GBP/USD, USD/JPY and USD/CHF are the most liquid pairs that provide the best volatility and hence opportunity for the forex day trader. Within these four pairs, the GBP/USD is the most volatile. Although it’s not the most liquid (the EUR/USD is), but it’s the most volatility. This pair, traded with the right broker (one that provides a 3 pip spread) can present many profitable opportunities for the astute day trader.
Specific news announcements
Currency rates are affected by rumors, news, economic indicators and government reports. As a day trader you must always be aware of what economic reports are scheduled on the day you are trading and at what time. Why? Simply because many of these reports can have a strong momentary impact on the market once they hit the news wires. This impact can be of 10 pips or 100 pips depending on the report and it’s difference from the market consensus. The most important and impacting economic indicators and government reports are issued by the US government. They affect every USD/X or X/USD currency pair. Again, always know what are the release times and the importance of the economic report. For example, suppose you are in a EUR/USD trade at 8:25 a.m. You know that an economic report is scheduled for release at 8:30 a.m. You might consider either exiting the trade before the release (in order to avoid unnecessary speculation as to what impact the report will have on the market) or entering your profit objective and stop loss into your deal station (for risk exposure reasons).
In conclusion, the forex day trader has to be prepared not only with the basic day trading rules, skills and principles. His job is to incorporate into his trading the characteristics and uniqueness of the forex market. Remember, every currency pair might present different opportunities and it is your job to always focus on the ones that best fit the purpose and objectives of day trading. I hope to have contributed to your forex trading education and I thank you for taking the time to read this article.
By Avi Frister
To learn more about Avi Frister visit:
http://www.forex-trading-machine.com
As the term implies, day traders are concerned with what happens in the market today. Not tomorrow, not next week and not next month, but today. The day trader’s job is to capture intraday price swings. Depending on the system or trading method employed, this can mean capturing one intraday swing or various intraday swings. The general job of a day trader is (then we will go over the more specific job of the forex day trader):
To control risk
One of the most important jobs as a day trader is to control your risk exposure. Sure, controlling risk is a concept you must use in any type of trading, however in day trading you must look at this issue from a different angle. Since your job is to capture various price swings during the day naturally your profit objectives will be much smaller than that of a swing trader (who places a single trade aiming for a much larger profit objective). So, when placing several trades during the day it can be easy to “drift” away from your pre-determined stop loses. A common (very common actually!) day traders thought is “if I extend my stop loss just a bit I hope the market will turn around”! Hope is one of the trader’s biggest enemies. These little extensions of stop losses add up and suddenly without noticing you are losing more dollars per trade than planed making your risk/reward ratio turn against you.
To be disciplined
This principle is key for any type of trading but particularly for day trading. If I had to name one single aspect of a day trader that can make him or her a winner or a loser it is discipline. You can have a so-so system but still make money if you are disciplined. However, you can have the best trading system in the world but if you are not disciplined I guarantee you will not be a successful trader. So, what is all this discipline everyone talks about when discussing trading? Very simple, it’s respecting and strictly following your trading plan, your trading system, your money management rules, and your commitment to the business. Being disciplined with regard to each and everyone of these components is essential for your success.
It is so easy to deviate from your trading plan, the rules of your trading system or any of the above mentioned components, especially when day trading. Why? Two reasons. First, because the trader is trading very frequent and does not have time to cool down, think, and evaluate. Second, because reality is replaced by hope. Your trading system rules (reality) says: “get our of the trade” hope says “hang in there, maybe it will still be profitable”. Your money management rules (reality) say “risk only 2% of your account on this trade” hope says “since I lost on the last trade I will risk 4% on this next one so I can make up for the loser and also be profitable”. Your trading plan (reality) says “trade each day 4 hours, give yourself Wednesday or Thursday a vacation to rest” hope says “Since I am not doing very well now I don’t need this rest day, and I will also trade 7 hours per day to make up”. I know (not hope!) you now understand the point!
To focus on the appropriate time frame
As a day trader your primary concern is to catch intraday swings. Your trades start and finish the same day. Your world is the day you are trading in. You don’t care what will happen in the market tomorrow or the day after tomorrow. Your objective when trading is focusing on the appropriate time frame chart. My opinion is that day trading should be done on a 1, 5 or 10 minute bar chart. Remember, you are looking to capture several fast moves during the day and hence you must focus on the charts that best illustrate events as they happen in a short period of time. However, the fact that you are day trading on a 1,5 or 10 minute bar chart does not mean you can’t use a larger time frame chart for the purpose of analysis. This however, is very subjective and depends very much on the traders strategies and methods of trading. As an example, many day traders would look at one hour bar charts in order to have a view of how the market has been behaving in the last week. Is it moving sideways (and so maybe I should only place trades between support and resistance areas)? Is it trending (and so maybe I should only be looking at placing trades in the direction of the higher time frame trend)? Are there any major support and/or resistance levels I should be aware of (areas where I should refrain from placing trades since it is uncertain how the market will react when reaching them)? Did the market brake out of a congestion area?
Again, it is very subjective. Some day traders believe that with proper larger time frame analysis they can select better day trades. My personal opinion is that the more you analyze the more conflicts you will have and the more uncertainties will appear (especially if you are new to trading). I like making things simple and I found it very useful when trading (proof of this is that all of the trading systems I use are 100% mechanical). Don’t get me wrong, this is not to say that larger time frames should not be used at all for analysis purposes. But, try to keep it simple and if you see that looking at larger time frame charts interferes with your correct decision process when placing day trades then simply stop.
To trade volatile and liquid markets
Since your job as a day trader is to capture intraday swings it is crucial that the market you are trading has enough movement to allow you to do this. It is also important that the market you are trading has enough liquidity so that order fills do not suffer from excessive slippage. You have to select a market that it’s volatility is permanent and not a temporary occurrence. Since you are basing your trading method on catching intraday price swings you have to know that you are trading in the right place. As a day trader volatility is your allay and you have to know that you can count on it every single day (or at least 90% of the days). Liquid markets will provide you with good order fills. As a day trader this is very important since you are aiming at smaller profit objectives and hence larger slippage will eat away more of your profits. When trading several times a day this adds up and can be the difference between success and failure.
As a forex day trader you have to apply all the above rules and principles plus other criteria that are unique to the forexmarket.
Time of day trading
The forex market is a 24 hour market. Never stops except on weekends. Within this 24 hour period different currencies behave in different manners. As a day trader it is very important to know the “personality” of the currency you are trading. For example, the GBP/USD is more volatile in early to mid European session than any other liquid pair. For a day trader trading in these hours it would be wise to take advantage of the price swings the GBP/USD pair offers instead of trading some other currency pair that constantly shows no movement. The USD/CAD pair is “silent” in the early to mid European session but starts to have more price movement toward the start of the US session. Every time Non Farm Payroll is released most if not all currency pair have a very small price range up to release time. As a day trader it wouldn’t be wise to trade during these pre-announcement hours with strategies that are based on breakouts. It would probably be smarter to use strategies that are based on range support and resistance.
Spread and liquidity
Forex brokers don’t charge you a commission for every trade you make (at least most forex brokers). Instead, they make their profit on the bid/ask spread which is measured in pips. As a forex day trader you are aiming at capturing small price swings sometimes several time per day. Also, your profit objectives are obviously much smaller than the swing trader’s profit objectives. All this means one thing: every pip counts. You cannot afford to trade currency pairs with large spreads, if you do your profit will get eaten up to a point where you will not be trading with an adequate risk/reward ratio. Forex day trading must be done with liquid pairs. Most forex brokers will provide you with a very narrow spread for the most liquid currency pairs. As an example, many brokers are now offering a 2 pip spread for EUR/USD and USD/JPY and a 3 pip spread for USD/CHF and GBP/USD. These are the most liquid pairs and the ones a day trader should focus on.
Volatility
As a day trader volatility is you friend, a friend you cannot afford to trade without. In it’s basic definition, volatility is simply the amount of price change with relation to time. Volatile currency pairs have various price swings (price changes) during a small period of time (one day). These price swings are what a day trader lives on. In the forex market volatility many times comes hand in hand with liquidity. The most liquid pairs are the ones that are the most volatile. The big 4: EUR/USD, GBP/USD, USD/JPY and USD/CHF are the most liquid pairs that provide the best volatility and hence opportunity for the forex day trader. Within these four pairs, the GBP/USD is the most volatile. Although it’s not the most liquid (the EUR/USD is), but it’s the most volatility. This pair, traded with the right broker (one that provides a 3 pip spread) can present many profitable opportunities for the astute day trader.
Specific news announcements
Currency rates are affected by rumors, news, economic indicators and government reports. As a day trader you must always be aware of what economic reports are scheduled on the day you are trading and at what time. Why? Simply because many of these reports can have a strong momentary impact on the market once they hit the news wires. This impact can be of 10 pips or 100 pips depending on the report and it’s difference from the market consensus. The most important and impacting economic indicators and government reports are issued by the US government. They affect every USD/X or X/USD currency pair. Again, always know what are the release times and the importance of the economic report. For example, suppose you are in a EUR/USD trade at 8:25 a.m. You know that an economic report is scheduled for release at 8:30 a.m. You might consider either exiting the trade before the release (in order to avoid unnecessary speculation as to what impact the report will have on the market) or entering your profit objective and stop loss into your deal station (for risk exposure reasons).
In conclusion, the forex day trader has to be prepared not only with the basic day trading rules, skills and principles. His job is to incorporate into his trading the characteristics and uniqueness of the forex market. Remember, every currency pair might present different opportunities and it is your job to always focus on the ones that best fit the purpose and objectives of day trading. I hope to have contributed to your forex trading education and I thank you for taking the time to read this article.
By Avi Frister
To learn more about Avi Frister visit:
http://www.forex-trading-machine.com
Private Loan Consolidations through EdFed
As a college student, you are constantly dishing out thousands of dollars towards various expenses, including tuition, books, fees, housing, food, cell phone bills, utilities, insurance and car payments. The list could go on forever. And, if you are like many students in America, part of your education is probably funded through private student loans.
There has never been a better time to consolidate your private student loans. Though the cost of schooling can cost thousands, EdFed is here to help you save thousands! This is because EdFed offers competitively, low interest rates and fees with our private student loan consolidations. Also, when you consolidate your private student loans through EdFed, you can save almost 50% off of your monthly bill!
Further Reduce Your Interest Rate
To save even more off of our already low interest rates, you can qualify to receive our borrower benefits. When you sign up to pay with our automated debit program you will receive an immediate 0.25% reduction off of your interest rate.
Three Flexible Repayment Options
When you consolidate your private student loans with EdFed, we offer you three repayment options to choose from, enabling you to choose the one that best meets your financial needs. Your interest rate stays the same, no matter which option you choose, and you have the freedom to change your repayment option at any time, should your situation change. Your payment options include:
* Equal Payments
This is the most common repayment option. In an equal payment repayment plan, both the interest and principal of the consolidation loan will be paid equally for the life of the loan. Your monthly payment will stay constant for the entire repayment period.
* Select 2/ Graduated Payments
The Select 2 repayment option enables you to make interest-only payments for the first two years of repayment. After two years, the payments will increase to include equal installments of both the interest and principal for the remaining term of the loan.
* Select 5/ Graduated Payments
The Select 5 payment option enables you to make interest-only payments for the first two years of repayment. During the third through fifth years of the loan, the payments will increase to include only a portion of the principal with the interest. When you enter the sixth year of your loan repayment, your payments will once again increase, this time to include both the principal and interest equally throughout the remainder of the loan.
EdFed Sets the Bar on Customer Service
EdFed's customer service is second to none. When you call EdFed, an eager loan counselor will give you accurate, honest answers to all of your questions. We pride ourselves in our ability to provide the best support and service in the industry for you and your consolidation needs. Also, when you consolidate your private loans with us, we will assign a specific loan specialist to your consolidation. This will enable you to speak to the same specialist each time you call. This specialist will be familiar with you and your loan, so calling in will be more like talking to an old friend, rather than a stranger.
Easy Application Process
Applying for a consolidation loan through EdFed is a short and simple process. When you call to apply, one of our professional advocates will ask you a few simple questions and help you start your private consolidation application. It is that simple. We know how important your time is to you, so starting an application with us takes less than ten minutes.
Save Thousands!
When you consolidate through EdFed, you have the ability to save thousands of dollars to help you take the first step to financial freedom. From our low, reduced interest rates to our flexible repayment options, supported by the best customer service in the industry, EdFed is here for you.
Source : http://www.forexarticlecollection.com/finance/private-loan-consolidations-through-edfed.html
There has never been a better time to consolidate your private student loans. Though the cost of schooling can cost thousands, EdFed is here to help you save thousands! This is because EdFed offers competitively, low interest rates and fees with our private student loan consolidations. Also, when you consolidate your private student loans through EdFed, you can save almost 50% off of your monthly bill!
Further Reduce Your Interest Rate
To save even more off of our already low interest rates, you can qualify to receive our borrower benefits. When you sign up to pay with our automated debit program you will receive an immediate 0.25% reduction off of your interest rate.
Three Flexible Repayment Options
When you consolidate your private student loans with EdFed, we offer you three repayment options to choose from, enabling you to choose the one that best meets your financial needs. Your interest rate stays the same, no matter which option you choose, and you have the freedom to change your repayment option at any time, should your situation change. Your payment options include:
* Equal Payments
This is the most common repayment option. In an equal payment repayment plan, both the interest and principal of the consolidation loan will be paid equally for the life of the loan. Your monthly payment will stay constant for the entire repayment period.
* Select 2/ Graduated Payments
The Select 2 repayment option enables you to make interest-only payments for the first two years of repayment. After two years, the payments will increase to include equal installments of both the interest and principal for the remaining term of the loan.
* Select 5/ Graduated Payments
The Select 5 payment option enables you to make interest-only payments for the first two years of repayment. During the third through fifth years of the loan, the payments will increase to include only a portion of the principal with the interest. When you enter the sixth year of your loan repayment, your payments will once again increase, this time to include both the principal and interest equally throughout the remainder of the loan.
EdFed Sets the Bar on Customer Service
EdFed's customer service is second to none. When you call EdFed, an eager loan counselor will give you accurate, honest answers to all of your questions. We pride ourselves in our ability to provide the best support and service in the industry for you and your consolidation needs. Also, when you consolidate your private loans with us, we will assign a specific loan specialist to your consolidation. This will enable you to speak to the same specialist each time you call. This specialist will be familiar with you and your loan, so calling in will be more like talking to an old friend, rather than a stranger.
Easy Application Process
Applying for a consolidation loan through EdFed is a short and simple process. When you call to apply, one of our professional advocates will ask you a few simple questions and help you start your private consolidation application. It is that simple. We know how important your time is to you, so starting an application with us takes less than ten minutes.
Save Thousands!
When you consolidate through EdFed, you have the ability to save thousands of dollars to help you take the first step to financial freedom. From our low, reduced interest rates to our flexible repayment options, supported by the best customer service in the industry, EdFed is here for you.
Source : http://www.forexarticlecollection.com/finance/private-loan-consolidations-through-edfed.html
Pivot Point Trading by Mark Mc Rae
You are going to love this lesson. Using pivot points as a trading strategy has been around for a long time and was originally used by floor traders. This was a nice simple way for floor traders to have some idea of where the market was heading during the course of the day with only a few simple calculations.
The pivot point is the level at which the market direction changes for the day. Using some simple arithmetic and the previous days high, low and close, a series of points are derived. These points can be critical support and resistance levels. The pivot level, support and resistance levels calculated from that are collectively known as pivot levels.
Every day the market you are following has an open, high, low and a close for the day (some markets like forex are 24 hours but generally use 5pm EST as the open and close). This information basically contains all the data you need to use pivot points.
The reason pivot points are so popular is that they are predictive as opposed to lagging. You use the information of the previous day to calculate potential turning points for the day you are about to trade (present day).
Because so many traders follow pivot points you will often find that the market reacts at these levels. This give you an opportunity to trade.
Before I go into how you calculate pivot points, I just want to point out that I have put an online calculator and a really neat desktop version that you can download for free HERE
If you would rather work the pivot points out by yourself, the formula I use is below:
Resistance 3 = High + 2*(Pivot - Low)
Resistance 2 = Pivot + (R1 - S1)
Resistance 1 = 2 * Pivot - Low
Pivot Point = ( High + Close + Low )/3
Support 1 = 2 * Pivot - High
Support 2 = Pivot - (R1 - S1)
Support 3 = Low - 2*(High - Pivot)
As you can see from the above formula, just by having the previous days high, low and close you eventually finish up with 7 points, 3 resistance levels, 3 support levels and the actual pivot point.
If the market opens above the pivot point then the bias for the day is long trades. If the market opens below the pivot point then the bias for the day is for short trades.
The three most important pivot points are R1, S1 and the actual pivot point.
The general idea behind trading pivot points are to look for a reversal or break of R1 or S1. By the time the market reaches R2,R3 or S2,S3 the market will already be overbought or oversold and these levels should be used for exits rather than entries.
A perfect set would be for the market to open above the pivot level and then stall slightly at R1 then go on to R2. You would enter on a break of R1 with a target of R2 and if the market was really strong close half at R2 and target R3 with the remainder of your position.
Unfortunately life is not that simple and we have to deal with each trading day the best way we can. I have picked a day at random from last week and what follows are some ideas on how you could have traded that day using pivot points.
Visite : http://www.tradejuice.com/forex/pivot-point-trading-mm.htm
The pivot point is the level at which the market direction changes for the day. Using some simple arithmetic and the previous days high, low and close, a series of points are derived. These points can be critical support and resistance levels. The pivot level, support and resistance levels calculated from that are collectively known as pivot levels.
Every day the market you are following has an open, high, low and a close for the day (some markets like forex are 24 hours but generally use 5pm EST as the open and close). This information basically contains all the data you need to use pivot points.
The reason pivot points are so popular is that they are predictive as opposed to lagging. You use the information of the previous day to calculate potential turning points for the day you are about to trade (present day).
Because so many traders follow pivot points you will often find that the market reacts at these levels. This give you an opportunity to trade.
Before I go into how you calculate pivot points, I just want to point out that I have put an online calculator and a really neat desktop version that you can download for free HERE
If you would rather work the pivot points out by yourself, the formula I use is below:
Resistance 3 = High + 2*(Pivot - Low)
Resistance 2 = Pivot + (R1 - S1)
Resistance 1 = 2 * Pivot - Low
Pivot Point = ( High + Close + Low )/3
Support 1 = 2 * Pivot - High
Support 2 = Pivot - (R1 - S1)
Support 3 = Low - 2*(High - Pivot)
As you can see from the above formula, just by having the previous days high, low and close you eventually finish up with 7 points, 3 resistance levels, 3 support levels and the actual pivot point.
If the market opens above the pivot point then the bias for the day is long trades. If the market opens below the pivot point then the bias for the day is for short trades.
The three most important pivot points are R1, S1 and the actual pivot point.
The general idea behind trading pivot points are to look for a reversal or break of R1 or S1. By the time the market reaches R2,R3 or S2,S3 the market will already be overbought or oversold and these levels should be used for exits rather than entries.
A perfect set would be for the market to open above the pivot level and then stall slightly at R1 then go on to R2. You would enter on a break of R1 with a target of R2 and if the market was really strong close half at R2 and target R3 with the remainder of your position.
Unfortunately life is not that simple and we have to deal with each trading day the best way we can. I have picked a day at random from last week and what follows are some ideas on how you could have traded that day using pivot points.
Visite : http://www.tradejuice.com/forex/pivot-point-trading-mm.htm
Five good reasons to start Forex trading
Why should you consider foreign exchange, or forex trading? One compelling reason is that it is a huge business, trading nearly two trillion U.S. dollars on a daily basis. The potential to make money is out there for the well-informed trader. The forex market is the largest in the world. It is larger than the U.S. stock market, and has a daily trading volume larger than all the world's stock markets combined. The following list provides a few reasons why forex trading is a smart move.
It's easy
If the idea of trading on the stock market is intimidating, you're not alone. There is no way that anyone, including professional brokers, can know enough about all the stock options. Therefore, many traders specialize or focus on particular areas of the stock market, and many individuals are left to rely on the opinions of the professionals, who may or may not be good at their craft.
Trading on the forex market, in contrast, is much simpler. The primary currencies traded are the U.S. dollar, the Japanese yen, and the British pound. There is less to keep track of, so conducting research and analysis can be much easier.
You can do it from home
If you're interested in getting involved in forex trading, all you need is a computer and a bit of time. Granted, conducting some research is wise if you want to make the best choices. But once you have an idea of your strategy, you can conduct transactions online for minimal fees and without having to pay a professional to do it for you (although this is an option). There are a number of online options for trading foreign exchange, so you'll need to conduct some research to determine the best choice for you. If you know others who trade this way, ask for their preferences. Conducting a simple Google search on forex trading will yield many results, so review and choose carefully.
The investment is minimal
To get involved in currency trading, you do not need to invest a lot of cash upfront. Many trading options are available for a small investment, some as low as a few hundred dollars. This allows new traders in particular to get involved, learn the process, and risk very little. To trade in the forex market, you need to determine your risk limit, and not invest above that amount. Because the initial investment can be low, many people can get involved that may not be able to invest in other options, such as traditional stocks. Forex trading is a good way to enter the trading market.
You can make money
While trading on the forex market takes some research, skill, and a bit of luck, it is possible to make money. The potential for huge payoffs is at times exaggerated, but there are traders making large amounts of money in this market. The key is to learn what you are doing and make smart choices. This can include determining how much you are able and willing to risk, taking risks when necessary, and learning as much as you can about the market. Trading on the forex market also offers you more leverage than in other markets. You can use smaller amounts of money to your advantage, and the trading process is simpler than in other markets.
It's flexible
Trading on the Foreign Exchange market is a twenty-four hour process, which means that you don't need to wait for the opening and closing of the exchange to know where you stand. You can make trades at any time of the day, which gives you much more control than if you are operating in the traditional stock market. This also allows traders to respond to breaking news immediately. The advantages of real-time trading are advantageous in that traders have a much better understanding of their investments. Conversely, in the traditional stock market, after-hours activities, for example, can affect stock values, but the affects are not immediately available.
Artikel Source : http://www.prime-forex.com/forex-articles/five-good-reasons-to-start-forex-trading.html
It's easy
If the idea of trading on the stock market is intimidating, you're not alone. There is no way that anyone, including professional brokers, can know enough about all the stock options. Therefore, many traders specialize or focus on particular areas of the stock market, and many individuals are left to rely on the opinions of the professionals, who may or may not be good at their craft.
Trading on the forex market, in contrast, is much simpler. The primary currencies traded are the U.S. dollar, the Japanese yen, and the British pound. There is less to keep track of, so conducting research and analysis can be much easier.
You can do it from home
If you're interested in getting involved in forex trading, all you need is a computer and a bit of time. Granted, conducting some research is wise if you want to make the best choices. But once you have an idea of your strategy, you can conduct transactions online for minimal fees and without having to pay a professional to do it for you (although this is an option). There are a number of online options for trading foreign exchange, so you'll need to conduct some research to determine the best choice for you. If you know others who trade this way, ask for their preferences. Conducting a simple Google search on forex trading will yield many results, so review and choose carefully.
The investment is minimal
To get involved in currency trading, you do not need to invest a lot of cash upfront. Many trading options are available for a small investment, some as low as a few hundred dollars. This allows new traders in particular to get involved, learn the process, and risk very little. To trade in the forex market, you need to determine your risk limit, and not invest above that amount. Because the initial investment can be low, many people can get involved that may not be able to invest in other options, such as traditional stocks. Forex trading is a good way to enter the trading market.
You can make money
While trading on the forex market takes some research, skill, and a bit of luck, it is possible to make money. The potential for huge payoffs is at times exaggerated, but there are traders making large amounts of money in this market. The key is to learn what you are doing and make smart choices. This can include determining how much you are able and willing to risk, taking risks when necessary, and learning as much as you can about the market. Trading on the forex market also offers you more leverage than in other markets. You can use smaller amounts of money to your advantage, and the trading process is simpler than in other markets.
It's flexible
Trading on the Foreign Exchange market is a twenty-four hour process, which means that you don't need to wait for the opening and closing of the exchange to know where you stand. You can make trades at any time of the day, which gives you much more control than if you are operating in the traditional stock market. This also allows traders to respond to breaking news immediately. The advantages of real-time trading are advantageous in that traders have a much better understanding of their investments. Conversely, in the traditional stock market, after-hours activities, for example, can affect stock values, but the affects are not immediately available.
Artikel Source : http://www.prime-forex.com/forex-articles/five-good-reasons-to-start-forex-trading.html
An introduction to the Forex market
What is Currency Exchange?
Currency exchange is the trading of one currency against another. Professionals refer to this as foreign exchange, but may also use the acronyms Forex or FX.
The Need for Currency Exchange
Currency exchange is necessary in numerous circumstances.
Consumers typically come into contact with currency exchange when they travel. They go to a bank or currency exchange bureau to convert one currency (typically, their "home currency") into another (i.e., the currency of the country they intend to travel to) so they can pay for goods and services in the foreign country. Consumers may also purchase goods in a foreign country or via the Internet with their credit card, in which case they will find that the amount they paid in the foreign currency will have been converted to their home currency on their credit card statement. Although each such currency exchange is a relatively small transaction, the aggregate of all such transactions is significant.
Businesses typically have to convert currencies when they conduct business outside their home country. For example, if they export goods to another country and receive payment in the currency of that foreign country, then the payment must often be converted back to the home currency. Similarly, if they have to import goods or services, then businesses will often have to pay in a foreign currency, requiring them to first convert their home currency into the foreign currency. Large companies convert huge amounts of currency each year; for example, a company such as General Electric (GE) converts tens of billions of dollars each year. The timing of when they convert can have a large affect on their balance sheet and "bottom line.
Investors and speculators require currency exchange whenever they trade in any foreign investment, be that equities, bonds, bank deposits, or real estate. For example, when a Swedish investor buys shares in Sun Microsystems on the NASDAQ, she will have to pay for the shares in U.S. Dollars and likely have to convert Swedish Krona to U.S. Dollars. Similarly, a Japanese real estate investor who sells a New York property may well want to convert the proceeds of the sale in U.S. Dollars to Japanese Yen.
Investors and speculators also trade currencies directly in order to benefit from movements in the currency exchange markets. For example, if an American investor believes that the Japanese economy is strengthening and as a result expects the Japanese Yen to appreciate in value (i.e., go up relative to other currencies), then she may want to buy Japanese Yen and take what is referred to as a long position. Similarly, if an American investor believes that the Euro will go down over time, then she may want to sell Euro to take a short position. Interestingly, investors and speculators can profit equally from currencies becoming stronger (by taking a long position) or from currencies becoming weaker (by taking a short position). Speculators are often day traders, trying to take advantage of market movements in very short time periods; buying a currency and then selling it again may happen within hours or even minutes. They are attracted to currency trading for numerous reasons, including (i) the size and daily volatility of the market, which gives them unparalleled excitement, (ii) the almost perfect liquidity of the currency exchange market, (iii) the fact that the currency exchange market is "open" 24 hours a day market, and (vi) the fact that currencies can be traded with no brokerage charges.
Commercial and Investment Banks trade currencies as a service for their commercial banking, deposit and lending customers. These institutions also generally participate in the currency market for hedging and proprietary trading purposes.
Governments and central banks trade currencies to improve trading conditions or to intervene in an attempt to adjust economic or financial imbalances. Although they do not trade for speculative reasons --- they are a non-profit organization --- they often tend to be profitable, since they generally trade on a long-term basis.
Currency Exchange Rates and Spreads
Currency exchange rates are determined by the currency exchange market. (The currency exchange market is described further below.) A currency exchange rate is always quoted for a currency pair using ISO code abbreviations. For example, EUR/USD refers to the two currencies Euro (the European currency) and U.S. Dollar. The first is referred to as the base currency, while the second as the quote currencyThe EUR/USD exchange rate specifies how many US Dollars you have to pay to buy one Euro, or conversely how many US Dollars you obtain when you sell one Euro. More generally, if buying, an exchange rate specifies how much you have to pay in the quote currency to obtain one unit of the base currency, and if selling, the exchange rate specifies how much you get in the quote currency when selling one unit of the base currency.
A currency exchange rate is typically given as a pair consisting of a bid price and an ask price. The ask price applies when buying a currency pair and represents what has to be paid in the quote currency to obtain one unit of the base currency. The bid price applies when selling and represents what will be obtained in the quote currency when selling one unit of the base currency. The bid price is always lower than the ask price.
In the currency market, the following abbreviation for the currency exchange rate pair is used:
0.8423/28
The first component (before the slash) refers to the bid price (what you obtain in USD when you sell EUR), and in this case includes four digits after the decimal point. The second component (after the slash) is used to obtain the ask price (what you have to pay in USD if you buy EUR). The ask price is obtained by increasing the first component until the last two decimal places are equal to the digits in the second component. In this example, the ask price is 0.8428. As another example, 0.8498/03 refers to a bid price of 0.8498 and an ask price of 0.8503. (Note that for some exchange rates it is customary to quote rates in units of 100, as is the case with USD/JPY.)
The difference between the bid and the ask price is referred to as the spread. When trading large amounts of $1M or higher, the spread obtained in a quote is typically 5 basis points or PIPs, with each basis point referring to 0.0001 (or 0.01 when, say, the Yen is involved). In the example above, the spread is 0.0005 or 5 PIPs. When trading smaller amounts, the spread may be larger; for example, when trading less than $100,000, spreads of 50-200 PIPs are common. Credit card companies typically apply a spread of 200-300 PIPs. Banks and exchange bureaus typically use a spread in the range of 200-1000 PIPs (in addition to charging a commission). For investors and speculators, a lower spread translates into easier profit taking due to movements in exchange rates.
The Currency Exchange Market
The currency exchange market is an inter-bank or inter-dealer market that was established in 1971 when floating exchange rates began to materialize. In addition, it is an Over-The-Counter market, meaning that transactions are conducted between any two counter parties that agree to trade via the telephone or electronic network. Trading is thus not centralized, as is the case with many stock markets (i.e., NYSE, ASE, CME) or as the case for currency futures and currency options, which trade on special exchanges. Dealers often "advertise" exchange rates using a distribution network, such as the one provided by Reuters or Bridge. Dealers then use the information obtained there (or directly) to "agree" to a rate and a trade.
The major dealing centers today are: London, with about 30% of the market, New York, with 20%, Tokyo, with 12%, Zurich, Frankfurt, Hong Kong and Singapore, with about 7% each, followed by Paris and Sydney with 3% each.
In terms of trading volume, the currency exchange market is the worlds largest market, with daily trading volumes in excess of $1.5 trillion US dollars. This is orders of magnitude larger than the bond or stock market. For example, the New York Stock Exchange has a daily trading volume of approximately $60 billion. Thus, the currency exchange market is by far the most liquid market in the world today. Because of the volume in trading, it is impossible for individuals or companies to affect the exchange rates. In fact, even central banks and governments find it increasingly difficult to affect the exchange rates of the most liquid currencies, such as the US dollar, Japanese Yen, Euro, Swiss Frank, Canadian Dollar or Australian Dollar.
The currency exchange market is a true 24-hour market, 5 days a week. There are dealers in every major time zone. Trading begins Monday morning in Sydney (which corresponds to 3pm EST, Sunday) and then daily moves around the globe through the various trading centers until closing Friday evening at 4:30pm EST in New York.
Today, over 85% of all currency exchange transactions involve a few major currencies: the US Dollar (USD), Japanese Yen (JPY), Euro (EUR), Swiss Frank (CHF), British Pound (GBP), Canadian Dollar (CAD), and Australian Dollar (AUD). In the currency exchange market, most of the currencies are traded only against the US Dollar. The term cross rate refers to an exchange rate between two non-dollar currencies. Trading between two non-dollar currencies usually occurs by first trading one against the US Dollar and then trading the US Dollar against the second non-dollar currency. Because of this, the spread in the exchange rate between two non-dollar currencies is often higher. (There are a few non-dollar currencies that are traded directly, such as GBP/EUR or EUR/CHF.) The following directly traded currency pairs make up the vast majority of the trading volume and are thus considered to be the most important ones: EUR/USD, USD/JPY, EUR/JPY, USD/CAD, EUR/GBP, GBP/USD, USD/CHF, AUD/USD, and AUD/JPY.
How currency trading is done traditionally
Currency trading is always done with currency pairs, such as EUR/USD, and so it is useful to consider the currency pair as an instrument, which can be bought or sold.
Buying the currency pair implies buying the first, base currency and selling (short) an equivalent amount of the second, quote currency (to pay for the base currency). (It is not necessary for the trader to own the quote currency prior to selling, as it is sold short.) A speculator buys a currency pair, if she believes the base currency will go up relative to the quote currency, or equivalently that the corresponding exchange rate will go up.
Selling the currency pair implies selling the first, base currency (short), and buying the second, quote currency. A speculator sells a currency pair, if she believes the base currency will go down relative to the quote currency, or equivalently, that the quote currency will go up relative to the base currency.
After buying a currency pair, the trader will have an open position in the currency pair. Right after such a transaction, the value of the position will be close to zero, because the value of the base currency is more or less equal to the value of the equivalent amount of the quote currency. In fact, the value will be slightly negative, because of the spread involved.
In todays currency market, a trade goes through a three-step process:
the trader communicates the currency pair and the amount he/she would like to trade with another dealer.
the dealer responds with a bid and an ask price
the trader responds to the bid and ask price with one of:
buy (by saying "Mine" or "I buy" or "I take")
sell (by saying "yours" or "I give you" or "I sell")
refuse.
The transaction occurs if the final response is either a buy or a sell. The dealer is required to quote a "good" market price, since he does not know whether the trader will buy or sell.
The currency exchange market described above is referred to as the spot market and the transaction described is referred to as a spot deal. A spot deal consists of a bilateral contract between a party delivering a specified amount of a given currency against receiving a specified amount of another currency from a second counter party, based on an agreed exchange rate, within two business days of the deal date, which is referred to as the settlement date. (The settlement date for USD/CAD is one business day after the deal date.) Speculators rarely deliver, however. Instead, they use what is referred to as a rollover swap. The rollover swap is designed to allow the changing of an old deal date to the current date by simultaneously closing an open position for todays date and opening the same position for the next day at a price reflecting the interest rate differential between the two currencies.
When a trader buys or sells a currency pair, the value of the currency pair, as an instrument, initially is close to zero. This is because (in the case of a buy) the quote currency is sold to buy an equivalent amount of the base currency. As the market rates fluctuate, however, the value of the currency pair position held will also fluctuate. Thus, if the rate for the currency pair goes down, the speculators long position will lose in value and become negative. To ensure that the speculator can carry the risk for the case where the position results in a loss, banks or dealers typically require sufficient collateral to cover those losses. This collateral is typically referred to as margin.
To limit down-side risk, traders often specify a Stop-Loss rate for each open trade. The Stop-Loss specifies that the trade should be closed automatically when the currency exchange rate for the currency pair in question reaches a certain threshold. For long positions, the Stop-Loss rate is always lower than the current exchange rate; for short positions, it is always higher. Traders, at times, also specify a Take-Profit rate for their trades in order to lock in a profit when the exchange rate reaches a certain threshold. For long positions, the Take-Profit rate must be above the current rate, while for short positions, it must be below the current rate.
A trader may also leave an order with a bank, broker or dealer. These so called leave orders are orders that a trade should be executed (in the future) when certain market conditions occur. There are three types of leave orders:
entry orders: specifies that a currency pair should be traded when it reaches a certain exchange rate. Entry orders are used when the trade would not offset a current position.
take-profit orders: are used to clear a position by buying (or selling) the currency pair of the position when the exchange rate reaches a specified level.
stop-loss orders: are used to clear a position by buying (or selling) the currency pair of the position when the exchange rate reaches a specified level.
Artikel Source : http://www.prime-forex.com/forex-articles/an-introduction-to-the-forex-market.html
Currency exchange is the trading of one currency against another. Professionals refer to this as foreign exchange, but may also use the acronyms Forex or FX.
The Need for Currency Exchange
Currency exchange is necessary in numerous circumstances.
Consumers typically come into contact with currency exchange when they travel. They go to a bank or currency exchange bureau to convert one currency (typically, their "home currency") into another (i.e., the currency of the country they intend to travel to) so they can pay for goods and services in the foreign country. Consumers may also purchase goods in a foreign country or via the Internet with their credit card, in which case they will find that the amount they paid in the foreign currency will have been converted to their home currency on their credit card statement. Although each such currency exchange is a relatively small transaction, the aggregate of all such transactions is significant.
Businesses typically have to convert currencies when they conduct business outside their home country. For example, if they export goods to another country and receive payment in the currency of that foreign country, then the payment must often be converted back to the home currency. Similarly, if they have to import goods or services, then businesses will often have to pay in a foreign currency, requiring them to first convert their home currency into the foreign currency. Large companies convert huge amounts of currency each year; for example, a company such as General Electric (GE) converts tens of billions of dollars each year. The timing of when they convert can have a large affect on their balance sheet and "bottom line.
Investors and speculators require currency exchange whenever they trade in any foreign investment, be that equities, bonds, bank deposits, or real estate. For example, when a Swedish investor buys shares in Sun Microsystems on the NASDAQ, she will have to pay for the shares in U.S. Dollars and likely have to convert Swedish Krona to U.S. Dollars. Similarly, a Japanese real estate investor who sells a New York property may well want to convert the proceeds of the sale in U.S. Dollars to Japanese Yen.
Investors and speculators also trade currencies directly in order to benefit from movements in the currency exchange markets. For example, if an American investor believes that the Japanese economy is strengthening and as a result expects the Japanese Yen to appreciate in value (i.e., go up relative to other currencies), then she may want to buy Japanese Yen and take what is referred to as a long position. Similarly, if an American investor believes that the Euro will go down over time, then she may want to sell Euro to take a short position. Interestingly, investors and speculators can profit equally from currencies becoming stronger (by taking a long position) or from currencies becoming weaker (by taking a short position). Speculators are often day traders, trying to take advantage of market movements in very short time periods; buying a currency and then selling it again may happen within hours or even minutes. They are attracted to currency trading for numerous reasons, including (i) the size and daily volatility of the market, which gives them unparalleled excitement, (ii) the almost perfect liquidity of the currency exchange market, (iii) the fact that the currency exchange market is "open" 24 hours a day market, and (vi) the fact that currencies can be traded with no brokerage charges.
Commercial and Investment Banks trade currencies as a service for their commercial banking, deposit and lending customers. These institutions also generally participate in the currency market for hedging and proprietary trading purposes.
Governments and central banks trade currencies to improve trading conditions or to intervene in an attempt to adjust economic or financial imbalances. Although they do not trade for speculative reasons --- they are a non-profit organization --- they often tend to be profitable, since they generally trade on a long-term basis.
Currency Exchange Rates and Spreads
Currency exchange rates are determined by the currency exchange market. (The currency exchange market is described further below.) A currency exchange rate is always quoted for a currency pair using ISO code abbreviations. For example, EUR/USD refers to the two currencies Euro (the European currency) and U.S. Dollar. The first is referred to as the base currency, while the second as the quote currencyThe EUR/USD exchange rate specifies how many US Dollars you have to pay to buy one Euro, or conversely how many US Dollars you obtain when you sell one Euro. More generally, if buying, an exchange rate specifies how much you have to pay in the quote currency to obtain one unit of the base currency, and if selling, the exchange rate specifies how much you get in the quote currency when selling one unit of the base currency.
A currency exchange rate is typically given as a pair consisting of a bid price and an ask price. The ask price applies when buying a currency pair and represents what has to be paid in the quote currency to obtain one unit of the base currency. The bid price applies when selling and represents what will be obtained in the quote currency when selling one unit of the base currency. The bid price is always lower than the ask price.
In the currency market, the following abbreviation for the currency exchange rate pair is used:
0.8423/28
The first component (before the slash) refers to the bid price (what you obtain in USD when you sell EUR), and in this case includes four digits after the decimal point. The second component (after the slash) is used to obtain the ask price (what you have to pay in USD if you buy EUR). The ask price is obtained by increasing the first component until the last two decimal places are equal to the digits in the second component. In this example, the ask price is 0.8428. As another example, 0.8498/03 refers to a bid price of 0.8498 and an ask price of 0.8503. (Note that for some exchange rates it is customary to quote rates in units of 100, as is the case with USD/JPY.)
The difference between the bid and the ask price is referred to as the spread. When trading large amounts of $1M or higher, the spread obtained in a quote is typically 5 basis points or PIPs, with each basis point referring to 0.0001 (or 0.01 when, say, the Yen is involved). In the example above, the spread is 0.0005 or 5 PIPs. When trading smaller amounts, the spread may be larger; for example, when trading less than $100,000, spreads of 50-200 PIPs are common. Credit card companies typically apply a spread of 200-300 PIPs. Banks and exchange bureaus typically use a spread in the range of 200-1000 PIPs (in addition to charging a commission). For investors and speculators, a lower spread translates into easier profit taking due to movements in exchange rates.
The Currency Exchange Market
The currency exchange market is an inter-bank or inter-dealer market that was established in 1971 when floating exchange rates began to materialize. In addition, it is an Over-The-Counter market, meaning that transactions are conducted between any two counter parties that agree to trade via the telephone or electronic network. Trading is thus not centralized, as is the case with many stock markets (i.e., NYSE, ASE, CME) or as the case for currency futures and currency options, which trade on special exchanges. Dealers often "advertise" exchange rates using a distribution network, such as the one provided by Reuters or Bridge. Dealers then use the information obtained there (or directly) to "agree" to a rate and a trade.
The major dealing centers today are: London, with about 30% of the market, New York, with 20%, Tokyo, with 12%, Zurich, Frankfurt, Hong Kong and Singapore, with about 7% each, followed by Paris and Sydney with 3% each.
In terms of trading volume, the currency exchange market is the worlds largest market, with daily trading volumes in excess of $1.5 trillion US dollars. This is orders of magnitude larger than the bond or stock market. For example, the New York Stock Exchange has a daily trading volume of approximately $60 billion. Thus, the currency exchange market is by far the most liquid market in the world today. Because of the volume in trading, it is impossible for individuals or companies to affect the exchange rates. In fact, even central banks and governments find it increasingly difficult to affect the exchange rates of the most liquid currencies, such as the US dollar, Japanese Yen, Euro, Swiss Frank, Canadian Dollar or Australian Dollar.
The currency exchange market is a true 24-hour market, 5 days a week. There are dealers in every major time zone. Trading begins Monday morning in Sydney (which corresponds to 3pm EST, Sunday) and then daily moves around the globe through the various trading centers until closing Friday evening at 4:30pm EST in New York.
Today, over 85% of all currency exchange transactions involve a few major currencies: the US Dollar (USD), Japanese Yen (JPY), Euro (EUR), Swiss Frank (CHF), British Pound (GBP), Canadian Dollar (CAD), and Australian Dollar (AUD). In the currency exchange market, most of the currencies are traded only against the US Dollar. The term cross rate refers to an exchange rate between two non-dollar currencies. Trading between two non-dollar currencies usually occurs by first trading one against the US Dollar and then trading the US Dollar against the second non-dollar currency. Because of this, the spread in the exchange rate between two non-dollar currencies is often higher. (There are a few non-dollar currencies that are traded directly, such as GBP/EUR or EUR/CHF.) The following directly traded currency pairs make up the vast majority of the trading volume and are thus considered to be the most important ones: EUR/USD, USD/JPY, EUR/JPY, USD/CAD, EUR/GBP, GBP/USD, USD/CHF, AUD/USD, and AUD/JPY.
How currency trading is done traditionally
Currency trading is always done with currency pairs, such as EUR/USD, and so it is useful to consider the currency pair as an instrument, which can be bought or sold.
Buying the currency pair implies buying the first, base currency and selling (short) an equivalent amount of the second, quote currency (to pay for the base currency). (It is not necessary for the trader to own the quote currency prior to selling, as it is sold short.) A speculator buys a currency pair, if she believes the base currency will go up relative to the quote currency, or equivalently that the corresponding exchange rate will go up.
Selling the currency pair implies selling the first, base currency (short), and buying the second, quote currency. A speculator sells a currency pair, if she believes the base currency will go down relative to the quote currency, or equivalently, that the quote currency will go up relative to the base currency.
After buying a currency pair, the trader will have an open position in the currency pair. Right after such a transaction, the value of the position will be close to zero, because the value of the base currency is more or less equal to the value of the equivalent amount of the quote currency. In fact, the value will be slightly negative, because of the spread involved.
In todays currency market, a trade goes through a three-step process:
the trader communicates the currency pair and the amount he/she would like to trade with another dealer.
the dealer responds with a bid and an ask price
the trader responds to the bid and ask price with one of:
buy (by saying "Mine" or "I buy" or "I take")
sell (by saying "yours" or "I give you" or "I sell")
refuse.
The transaction occurs if the final response is either a buy or a sell. The dealer is required to quote a "good" market price, since he does not know whether the trader will buy or sell.
The currency exchange market described above is referred to as the spot market and the transaction described is referred to as a spot deal. A spot deal consists of a bilateral contract between a party delivering a specified amount of a given currency against receiving a specified amount of another currency from a second counter party, based on an agreed exchange rate, within two business days of the deal date, which is referred to as the settlement date. (The settlement date for USD/CAD is one business day after the deal date.) Speculators rarely deliver, however. Instead, they use what is referred to as a rollover swap. The rollover swap is designed to allow the changing of an old deal date to the current date by simultaneously closing an open position for todays date and opening the same position for the next day at a price reflecting the interest rate differential between the two currencies.
When a trader buys or sells a currency pair, the value of the currency pair, as an instrument, initially is close to zero. This is because (in the case of a buy) the quote currency is sold to buy an equivalent amount of the base currency. As the market rates fluctuate, however, the value of the currency pair position held will also fluctuate. Thus, if the rate for the currency pair goes down, the speculators long position will lose in value and become negative. To ensure that the speculator can carry the risk for the case where the position results in a loss, banks or dealers typically require sufficient collateral to cover those losses. This collateral is typically referred to as margin.
To limit down-side risk, traders often specify a Stop-Loss rate for each open trade. The Stop-Loss specifies that the trade should be closed automatically when the currency exchange rate for the currency pair in question reaches a certain threshold. For long positions, the Stop-Loss rate is always lower than the current exchange rate; for short positions, it is always higher. Traders, at times, also specify a Take-Profit rate for their trades in order to lock in a profit when the exchange rate reaches a certain threshold. For long positions, the Take-Profit rate must be above the current rate, while for short positions, it must be below the current rate.
A trader may also leave an order with a bank, broker or dealer. These so called leave orders are orders that a trade should be executed (in the future) when certain market conditions occur. There are three types of leave orders:
entry orders: specifies that a currency pair should be traded when it reaches a certain exchange rate. Entry orders are used when the trade would not offset a current position.
take-profit orders: are used to clear a position by buying (or selling) the currency pair of the position when the exchange rate reaches a specified level.
stop-loss orders: are used to clear a position by buying (or selling) the currency pair of the position when the exchange rate reaches a specified level.
Artikel Source : http://www.prime-forex.com/forex-articles/an-introduction-to-the-forex-market.html
Forex eBook
Are you ready to join the thrill?
Forex trading, the highly attractive marketplace, with a daily volume of 2.5 trillion dollars, has become the largest arena on earth. It’s about time that you, like millions of other individual investors, join this market, which is accessible for everyone worldwide, around the clock, from any computer.
This Forex e-book has everything you need
This book shows you everything you need to know to start trading Forex. It addresses the reader at eye level, in a friendly and simple manner. Yet, it provides a professional study of the most popular techniques implemented today by Forex traders worldwide. This book offers useful and valuable background, including technical methods, trading tips, Forex glossary, chart reading, and financial indicators used in Fundamental Analysis.
A word about this e-book’s approach
This book reflects years of experience in Forex trading and Forex platform operation, parallel to Forex education, including seminars, printed publications and academic studies. Such experience was brought to this book, to provide all levels of traders the training and the essentials of Forex trading.
With the help of this guide, you will soon be ready to start trading Forex. In fact, you can start today, while beginning with small amounts and gradually obtaining the experience you need. We wish you success in your trading, and hope you find this book interesting, helpful and enjoyable.
Visite: http://www.forex.info/?r=google1
Forex trading, the highly attractive marketplace, with a daily volume of 2.5 trillion dollars, has become the largest arena on earth. It’s about time that you, like millions of other individual investors, join this market, which is accessible for everyone worldwide, around the clock, from any computer.
This Forex e-book has everything you need
This book shows you everything you need to know to start trading Forex. It addresses the reader at eye level, in a friendly and simple manner. Yet, it provides a professional study of the most popular techniques implemented today by Forex traders worldwide. This book offers useful and valuable background, including technical methods, trading tips, Forex glossary, chart reading, and financial indicators used in Fundamental Analysis.
A word about this e-book’s approach
This book reflects years of experience in Forex trading and Forex platform operation, parallel to Forex education, including seminars, printed publications and academic studies. Such experience was brought to this book, to provide all levels of traders the training and the essentials of Forex trading.
With the help of this guide, you will soon be ready to start trading Forex. In fact, you can start today, while beginning with small amounts and gradually obtaining the experience you need. We wish you success in your trading, and hope you find this book interesting, helpful and enjoyable.
Visite: http://www.forex.info/?r=google1
E-gold is an electronic currency, issued by e-gold Ltd
What is e-gold?
E-gold is an electronic currency, issued by e-gold Ltd., a Nevis corporation, 100% backed at all times by gold bullion in allocated storage. Full information of it can be found on the e-gold.com website.
How do I fund my e-gold account?
Please open this link for more details.
Who can participate in this program?
We accept investor from all over the world, irrespective of their citizenship or income. Anyone with an e-gold account can become a member of hillcrestct.com.
How do I make investment?
Just click the “Invest” on the main page and follow the on screen directions.
Can I have multiple investments?
Yes. You are welcome to have as many investments as you like. Each new investment has its own investment cycle.
Are there any administrative fees?
No. There are no administrative or hidden fees, including taxes on investment.
How do I withdraw my earnings?
You don't have to do anything. All payments are transferred automatically to your e-gold account.
Can I change my e-gold account number if something goes wrong with my current e-gold account?
Please contact us in this case, and we’ll do our best to help you.
Can I speak with you on the phone or meet you in person?
We’re a private group of investors, caring about our privacy and security. Our anonymity is one of the reasons, allowing us to pay high returns. So most of correspondence with our investors is conducted via e-mail.
More Detail : http://hillcrestct.com/faq.php
E-gold is an electronic currency, issued by e-gold Ltd., a Nevis corporation, 100% backed at all times by gold bullion in allocated storage. Full information of it can be found on the e-gold.com website.
How do I fund my e-gold account?
Please open this link for more details.
Who can participate in this program?
We accept investor from all over the world, irrespective of their citizenship or income. Anyone with an e-gold account can become a member of hillcrestct.com.
How do I make investment?
Just click the “Invest” on the main page and follow the on screen directions.
Can I have multiple investments?
Yes. You are welcome to have as many investments as you like. Each new investment has its own investment cycle.
Are there any administrative fees?
No. There are no administrative or hidden fees, including taxes on investment.
How do I withdraw my earnings?
You don't have to do anything. All payments are transferred automatically to your e-gold account.
Can I change my e-gold account number if something goes wrong with my current e-gold account?
Please contact us in this case, and we’ll do our best to help you.
Can I speak with you on the phone or meet you in person?
We’re a private group of investors, caring about our privacy and security. Our anonymity is one of the reasons, allowing us to pay high returns. So most of correspondence with our investors is conducted via e-mail.
More Detail : http://hillcrestct.com/faq.php
GdViewer Pro OCX - Image and PDF Viewer ActiveX for .net, vb, delphi, vfp, C/C++ etc.
GdViewer Pro OCX is a low cost and royalty free Image and PDF Viewer ActiveX control that supports a lot of image format like bmp, tif, tiff, jpg, wmf, gif, animated gif, ico, png, pdf**... It can be used from any 32-bit Windows development environment that can call ActiveX components (Access, Visual C++, Visual Basic, Realbasic, Visual Foxpro, Delphi, .Net, MS Access, Windev, Xbasic, PowerBuilder etc...) With Gdviewer Pro OCX you can view, zoom, print, rotate, Define Display Area, zoom on area, play animated gif, display multi pages tiff files, display pdf file (optional**), use Defined Zoom in or Zoom out value, use keyboard to scrool image, set antialiasing & smoothing display mode....
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- PDF Viewer (need an IsedQuickPDF License)**
- Multipage Tiff reading, you can change page easly
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- Read binary data types like IStream, IUnknown
- Load image from URL
- Multiple image scaling algorithms (Antialiasing, Bicubic and Nearest Neighbor Interpolation ...)
- Support lzw, ccitt3, ccitt4, rle and Jpeg compression
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- Import image from Clipboard, StdPicture, IPicture, HBitmap, DIB, gdiplus handle...
- Advanced rotations 90, 180, 270, 360, Flip X, Flip Y
- Advanced and optimized printing features: Print range of pages from a multi-page file, Print multi-page images in single print jobs, Fit image to paper size...
- Area processing
- User define display area
- Animated Gif Viewer
- Built in timer with TimerTick event
- Advanced scrollbar and autosize features
- Aspect Ratio Control
- Right click pop up menu, including tools, selection, zoom... *
- Built in tools including hand tool, pan and zoom, rectangle selection
- Move the image manualy with move hand cursor
- Zoom enhance, zoom by height, by width, fit to page...
- User define Zoom and user define area zoom
- Keyboard and Mouse Events
- Change image zoom with mouse whell
- Smooth Scrolling
- Save and restore the specifies position of image (Image MAP system capability)
- GdViewerCnt: Image viewer container class (like a vb picturebox, can contain other controls placed on it)
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(*) Contextual menu of the viewer :
(**) Pdf viewer is an optional part of the GdViewer Pro OCX.
To view pdf file in the GdViewer you need to acquire an isedquick pdf license here: http://www.isedquickpdf.com
You can get an iSEDQuickPDF Evaluation Key here: iSEDQuickPDF Evaluation Key
Supported image file formats:
* BMP, DIB, RLE (standard Windows Bitmap file format).
* ICO (Icone file format).
* EMF (Enhanced Windows Metafile format).
* GIF, ANIMATED GIF (Graphics Interchange file format).
* JPEG, JPG, JPE, JFIF (Joint Photographic Expert Group file format).
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Visite website
Product Features:
- Image viewer (very high quality viewer class with many differents view modes)
- Load and print tif, multipage tiff, ico, jpeg, png, wmf, emf, gif, animated gif, dib, fax image files
- Read EXIF Tags, GPS Tags, Thumbnails Tags...
- PDF Viewer (need an IsedQuickPDF License)**
- Multipage Tiff reading, you can change page easly
- Display big image file
- Read binary data types like IStream, IUnknown
- Load image from URL
- Multiple image scaling algorithms (Antialiasing, Bicubic and Nearest Neighbor Interpolation ...)
- Support lzw, ccitt3, ccitt4, rle and Jpeg compression
- Support for 1bit, 4bits, 8bits, 16bits, 24bits, 32bits, 48bits and 64bits pallets color
- Import image from Clipboard, StdPicture, IPicture, HBitmap, DIB, gdiplus handle...
- Advanced rotations 90, 180, 270, 360, Flip X, Flip Y
- Advanced and optimized printing features: Print range of pages from a multi-page file, Print multi-page images in single print jobs, Fit image to paper size...
- Area processing
- User define display area
- Animated Gif Viewer
- Built in timer with TimerTick event
- Advanced scrollbar and autosize features
- Aspect Ratio Control
- Right click pop up menu, including tools, selection, zoom... *
- Built in tools including hand tool, pan and zoom, rectangle selection
- Move the image manualy with move hand cursor
- Zoom enhance, zoom by height, by width, fit to page...
- User define Zoom and user define area zoom
- Keyboard and Mouse Events
- Change image zoom with mouse whell
- Smooth Scrolling
- Save and restore the specifies position of image (Image MAP system capability)
- GdViewerCnt: Image viewer container class (like a vb picturebox, can contain other controls placed on it)
- Royalty free distribution
- ...
(*) Contextual menu of the viewer :
(**) Pdf viewer is an optional part of the GdViewer Pro OCX.
To view pdf file in the GdViewer you need to acquire an isedquick pdf license here: http://www.isedquickpdf.com
You can get an iSEDQuickPDF Evaluation Key here: iSEDQuickPDF Evaluation Key
Supported image file formats:
* BMP, DIB, RLE (standard Windows Bitmap file format).
* ICO (Icone file format).
* EMF (Enhanced Windows Metafile format).
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Shopping And The Quest For The Holy Grail
Today is Saturday, which means last night was Friday night. Now that I have MSN Messenger working, I took the opportunity to do an extended chat with home. Tommy (he’s 3) and I sent various emoticons (for the uninitiated among you, these are those smiley face icon things you see all over the place) back and forth to each other. I was also able to see him on the webcam, if somewhat blurry.
My wife and I tried a couple of online games, and now I will be able to play Tic Tac Toe and Checkers against Jack (he’s 7), the lover of all games. It's a bit slow on this end, but OK. MSN Messenger also supports voice and video chat, so I decided to look for a microphone and webcam.
I also wanted to test out my foreign tourist look in order to see what would happen. Most of the locals wear dark colours, mostly black. You see lots of suits, ties, long skirts, etc., along with the pointy shoes and the spikey heels on some of the women. Many women also seem to have decided to dye their hair, so you see the occasional blonde, and many very red-heads. I saw one family today - the father was wearing a nice suit, the wife was wearing semi-traditional garb, involving multiple layers, one of which is brightly coloured - red in this case, the kids looked sharp, and the grandmother was even more traditional. What made them stand out is that the wife's hair was as brightly coloured red as her clothing.
Anyway, I put on my blue jeans, my non-dress shoes, and my new bright red coat. It was just bright enough outside for me to want to wear sunglasses, but I resisted, not wanting to look like a thug (so I'm told). Here the thugs tend to come with a Mercedes, so it's not entirely an undesirable look, although mine would certainly have been incomplete.
The thing I can't figure out is why so many people were all bundled up. Hats, scarves, etc. Heck, it was about 10 degrees above zero - I think most Saskatchewan people would have been happy to go naked. I know lots of kids who would easily be wearing shorts here. (That's how it is in Florida this time of year too - the Canadians are frolicking in the surf while the Floridians have their coats on.)
I digress.
Walking up Rudaki (the main drag), I came to the Tsum. It's Dushanbe's version of the big Eaton's stores we got used to across Canada, before the empire collapsed in a heap of dust. If you’re an American, think Macy’s. The Tsum is in a big building, spread over three floors. In a way, it is like a trade fair in the sense that it is divided into sections that seem to be independently operated. Whether this is true or not, I can't be sure, but you could buy just about anything here. Cell phones, shampoo, furniture, flooring, clothing, electronics, traditional decor, clocks, toys, the ubiquitous oil-filled heaters, towels, etc. It was kind of like a discount barn, only better organized and with better music, except that I had been warned that this was the place NOT to buy anything - better prices could be found just about anywhere else.
I had also been told that there were some computer stores in this neck of the woods, so I continued my search. There were lots of places to buy Bruce Willis movies on DVD, presumably dubbed in Russian. I found lots of money changers and cell phone stores. Women's clothing, cafes, cell phones, a barber shop, one-hour photo shops, battery stores, cell phones, telephone centres, and perhaps an Internet cafe or two, more cell phones. Several store fronts were under renovation. I wandered back and and forth, peering in to various establishments.
Eventually, I spotted an HP logo out of the corner of my eye. I wandered in to a disorganized establishment with an ATM smack in the middle of everything. I'm not sure if it worked or if it was under repair. But the HP logo turned out to be laser printer toner cartridges, and the place had some computer stuff. But it seemed like a store with nothing on display.
The thing you notice here is that if they sell complete computer systems, they don't have them on display. The display cases are (full is too strong a word) scattered with miscellaneous computer parts. Perhaps one or two of each thing. They probably have more in the back, but you can't be too sure. Anyway, I bought a Genius brand webcam and some Somic (not Sonic - those were bad sneakers from Sears when I was a kid) headphones with a microphone attached for a total of 102 c, which is about US$33.44, from a young guy who spoke English. I gave him US$40, and he gave me 20 c as change, and he did it all in his head. Calculate it out, and it’s almost dead on.
On the way back, I caught a glimpse of some "Gold" brand food in a store, which caused me to swerve inside. When I arrived, my fridge had been stocked with a litre of 100% Gold Apple Juice, which was really really good. I hadn't found it in my local shop, so I thought they might have some. They did, for 4 c, which is a bit steep, but worth it. They also had some neat candy, and an attached liquor store, where they had gin & tonics in a can, just like a Coke. I don't know much about booze, but I'm sure that's not normal back home.
So I bought the apple juice, and for my first time in a store in Dushanbe, there was a cash register, and I got a receipt right from the till! And she put my litre of apple juice in an Estee Lauder bag! Worth every penny. I also noticed that the 500 mL Coke was 3 c here, compared to the 2.40 c I pay in my local store half a mile south. But they had 1 L and 2 L sizes, which could be useful.
I walked back along Rudaki toward home. Coming across my local neighbourhood grocery strip, I bought more chicken noodle soup, Coke, a Mars bar, and some water and set off home. Coming down my street, I noticed a fancy new house behind big walls, and then when passing a dingy courtyard surrounded by tumble-down buildings, a nice Mercedes CLK coupe in the middle. There's a restaurant near here called Flamingo that has the reputation of being the most expensive in the country. You can pay US$30-40 or more per person pretty easily, so I'm told. This merits investigation someday. Maybe I could wear my sunglasses, even though I will arrive by chauffeur-driven Lada.
The headphones are great, and the microphone tests out nicely too. While I was fiddling with my new toys, I saw a laden woman come toward the building. (Being neither African or European, I could not establish her velocity – that’s for all you Monty Python fans out there.) She carried in her hands a bag containing the Holy Grail - many bottles of Coke. It was Buba, the maid/housekeeper/cook/personal shopper/invisible force. I rushed to the door and let her in. In no time at all, she was russian about (sorry), doing dishes, cooking, filling the fridge, taking my shirts to be ironed. It was like my mother-in-law had just arrived (and I really mean that in the most complimentary way, Mom).
I now have two pots on the stove - one for today, and one for tomorrow (she doesn't come on Sundays), and two salad-like dishes ready to go. And in a flash she was gone (on Prancer, on Donner, on Blitzen). (Memo to self - leave out milk and cookies.) (Memo to self - leave note for Buba to buy milk and cookies.)
By now, I'm sure you are wondering about my tourist experiment. Nada, zilch, nothing. But for my language skills, I may as well have been a local (although I couldn't tell you how the mashrutka (minibus) system works, or how to fix the carburetor of a 1984 Lada). I think I got a couple of looks due to my height, but my experience is that had I been in China, this might have caused a scene. Here, barely a ripple. My self-esteem is shattered, but simultaneously I'm relieved - it means I won't be seen as a goofy foreigner going native when I buy a pair of pointy shoes.
More automotive spottings: Lincoln Town Car x 2, brand new Lexus RX330, big Mercedes with diplomatic plate 001 001, Mazda MPV, Honda Accord, Honda CRV, Ford Taurus.
This article was previously on Ann's Page
I have an affiinity to islands. Perhaps it's due to being born on one. Whatever the reason, they always seem to feature as my favourite holiday destinations. Even so, no one could have prepared me for the impact Sri Lanka would have on me.
I first went to Sri Lanka 10 years ago and had wanted to return ever since. For a long time, the nearest I ever got to it, was keeping in touch with Sunny, the chauffeur guide who'd helped to make the first trip so memorable. Through photos, I watched his two sons, now 11 and 9, growing up. The damage that the Tamil Tigers did to the island worried me whenever I read about it in the British newspapers, not just for the deaths they caused, but because it also hit tourism and thus had a knock on effect on a family I knew and cared about.
The possiblity of a return first cropped up last Spring, but it was all dependent upon finding a cat sitter to look after the boys. That solved (thanks Eileen, I really appreciated it), Jen, who'd spent 10 years hearing tales of my last trip and had no intention of being left out of this one, and I, started planning in earnest.
We made our own arrangements. This meant that, for a while, we had our flights booked, but no firm hotel booking. We looked around for local evening classes on building your own house out of plaited palm leaves, but they seemed to be thin on the ground. We consoled ourselves with the thought that, if we cut ourselves plaiting the palms, or got bitten by anything unmentionable, at least our holiday insurance was in place and we'd get free treatment! Fortunately, the hotel booking came through well before we needed to put any of these plans into action.
So it was that, on the morning of 14th January 2003, I found myself back in Sri Lanka. Sunny was at the airport to pick us up and take us to the Galle Face Hotel in Colombo. This was to be our base for the duration of our stay.
The Galle Face Hotel is unique. On the ocean, but in central Colombo, it's the oldest hotel on the island. Full of character and with a very imposing frontage, it's still a little old fashioned in terms of furnishings and fittings. We were startled to see a gardener valiantly mowing a vast expanse of lawn with a small, rusty, manual lawnmower. I can also still see the horrified look on the face of the Director of Operations when we excused ourselves at the end of a cocktail reception, held by the hotel for its long term and repeat guests. Our reason? To check if the leaks we'd experienced in our suite during the previous tropical storm had returned during the current one! While the hotel might lack some of the modern touches, state of the art living isn't everything. Far more important to us was that The Galle Face Hotel can't be beaten for its atmosphere and friendliness. I especially liked the little homilies that greeted you in the passageways. "Please do not smoke in bed or the ashes we find may be yours." "Please use the stairs, it's only one flight and it will benefit your health." The front of the Galle Face Hotel. It is the oldest hotel in Sri Lanka and the only hotel actually on the beach in Colombo.
The grounds of the hotel. The pool is behind the palm trees. Detail of the gardener mowing the huge lawns.
Devi and Gunny provided a personal touch when we went to the pool area. Gunny, who knew I liked to write when I was there, always did his best to make sure I had my "special" table. (On one occasion this included trying to remove it from a gentleman who was trying to eat his lunch on it.) Devi gave us the breakdown on the spectacular Sri Lankan weddings that were a daily event there.
Devi, in the blue sari, Gunny in the background and Jen
The hotel's currently being refurbished, so next time we stay there (and nowhere else would be the same now), I hope we find that they've succeeded in their aim of retaining the character, but repairing the leaks!
Neither Jen nor I are lovers of "resorts", so a bonus for us was that whenever we left the hotel we stepped straight into everyday life rather than the artificial society that grows up around a tourist centre. Everyday life however, included negotiating crossing busy main roads. If there's a Highway Code in Sri Lanka, no one seems to take any notice of it. If you're a pedestrian, the general idea seems to be close your eyes, stretch out your hand (palm downwards), and hope the traffic weaves its way around you. That we finished the holiday with all our limbs intact is surely due to the helpfulness of the local people, who allowed us to attach ourselves to them, (metaphorically speaking that is) and led us safely over the road. The local supermarket, "The Elephant House", was only a few hundred yards away. It was not generally used by tourists and we were as much of a novelty to the shop as it was to us. On one occasion, when trying to simplify a transaction only resulted in us complicating it, we even gathered a very goodnatured crowd. They laughed, we laughed and the confusion sorted itself out.
Despite being in Colombo, we were still prey to the local tourist scams, but we'd been well briefed by Sunny. The most common one was to be accosted by individuals who explained to us that they were teachers at the local school for deaf and blind children or, alternatively, the local orphanage, culminating in asking us to sign a paper committing us to donate money. Had even half of the supplicants been telling the truth, Sri Lanka would be remarkable for the vast number of special schools there. Not to mention the amount of children who'd had the misfortune to be orphaned.
The value of money is one of the most startling things about a trip to Sri Lanka. I would never describe myself as poor, but here in the UK I spend my life budgeting in order to pay all the bills and still have enough money left over to be able to afford to do all the things I want to do. In Sri Lanka, I suddenly become seriously rich. Many everyday items are a tenth of the UK price. If I lived in Sri Lanka and budgeted the way I do in the UK, I could probably live comfortably on £10 ($15) a week. It's a very strange feeling. On the one hand, it's wonderful not to have to consider the cost of anything at all. To wander in and out of hotels, the British equivalent of which would have me drawing a sharp intake of breath at the cost of even a cup of tea. To plan tours without having to keep a tally of the cost. To go into a shop and buy without needing to ask the price first. On the other hand, it's uncomfortable being aware of the financial differences between me and my Sri Lankan counterparts, which occur purely as a result of the two different economies.
Sunny had lent us an excellent guide book so we were able to explore a lot of Colombo on foot. To see the rest of the island, transport is a must. Coach and mini bus trips are easily bookable, but by far the best way is to travel with a chauffeur/guide. When the chauffeur/guide also happens to be a long standing friend, the tours become really memorable.
Touring in Sri Lanka requires a degree of stamina. How the chauffeur/guides aren't on their knees by the end of the day is beyond me. Sunny just says, "It's my job, it's what I have to do and I'm used to it." Somehow I can't imagine anyone in Britain coming up with such a philosophical approach.
Here's an example of what we covered in a typical tour day. During our second week, we went on a tour of the west coast. Sunny had asked us to be ready for a 6 am start, so we actually got up at 5.15. Sunny, who had a 40 minute drive to reach our hotel must have been up even earlier. After driving for a couple of hours, we stopped at Bentota for a tea break and, in Sunny's case, breakfast. Then on to a turtle hatchery where we heard how the eggs were collected and saw what happened when they were brought to the hatchery.
The turtle hatcheries collect the eggs, keep them buried in the sand, in a safe area, until they hatch and then keep the babies for 3 days before releasing them into the ocean.
I'm holding two day old babies in this picture.
From Bentota, we went to Ambalangoda to look around a Mask Factory and Museum and to watch the masks being made. Further down the coast at Hikkaduwa, Jen went for a ride in a glass bottomed boat. By this time it was about 12.30 pm.
The boat owner, Jen and Sunny set off for a trip in a glass bottomed boat.
Right on the southwest tip of the island is Galle, the old Dutch capital. A lot of the fortifications are still in place and we were able to stroll along some of the ramparts. But not for too long as Sunny wanted us to see Weligama, a fishing village where the fishermen are famous for "stilt fishing".
Two stilt fishermen at Weligama
At 3 pm we reached Tangalle and finally stopped for lunch. By this time, we'd been on the road for 9 hours.
Whilst waiting for our lunch, we couldn't resist a paddle
My lunch was a soufflé omelette with bananas and palm treacle.
It was absolutely delicious!
From Tangalle, we headed inland to Bundala, one of the National Parks, as Sunny wanted to take us on a jeep safari. Our safari was around an area known for its birdlife,. Along with Sunny, who was for once a passenger, we were escorted by a guide as well as the jeep driver. It will be a long time before Jen and I forget standing by the edge of a lake to stretch our legs, only to have the guide point out a couple of crocodiles basking in the shallows. We were ready to do a standing jump straight into the back of the jeep at the first sign of one of them coming to life and showing an interest in us, but everyone else was most unconcerned. The jeep safari was the last item on Sunny's agenda and from there he took us to a local hotel where we were to spend the night. By the time we arrived at the hotel, it was 7.15 pm.
This was the view of paddy fields from the balcony
of my hotel room.
However beautiful a country, a visit can be made or broken by the friendliness of the people and sometimes, just the little things that you look back on with a smile or a sigh. In Sri Lanka, all were overwhelming.
I will never forget,
Stopping by the roadside to give some children lollipops and biros and seeing a sturdy 3 year old emerge from the nearby house like a bullet out of a gun, little legs flying like pistons and a frantic look on his face at the thought of being too late.
The dignity and close loving bonds of familes so poor it defies anything we see in the UK. Sunny asking a young, barefoot boy why he wasn't at school and being told it was because his family couldn't afford to buy him shoes.
Being told, completely straightfaced, by a young hotel waiter one morning that the hotel had run out of tea. He managed to maintain his deadpan appearance through my disbelief (Sri Lanka is the world's third largest tea exporter), so that I finally began to think he was telling me the truth. Only then did his face break into a huge grin at the success of his practical joke and we all laughed together.
Buying Sri Lankan scratch cards and sitting in open air rest houses drinking tea with Sunny and attempting to win a tuk tuk, one of the many prizes. We'd agreed on a three way split of any winnings, but this proved to be a little difficult with the prizes of 10 and 20 rupees (3.3p & 6.6p respectively), which were all that we ever won.
Jen and Sunny on one of our many tea breaks. Jen had just hit the jackpot
with a 20 rupee win on a scratchcard!
Having the most hair raising ride of my life in a tuk tuk driven through Columbo streets, heavily congested with traffic, by a driver who clearly thought he was immortal.
The sight of the burnt out shell that was all that was left of the bank in Colombo that was bombed by terrorists a few years ago.
Being invited, by the bride's brother, into her wedding reception at the Galle Face Hotel.
All the monkeys and elephants.
Three monkeys renoving fleas from each other. Three elephants keeping a close guard on an orphaned baby as he's washed by a handler.
The realisation that, despite the completely different cultures, religions and lifestyles, we shared the same opinions on many fundamental things and the same sense of humour.
The many kindnesses and the numerous running gags that are too personal to write about here.
Thank you to everyone who helped to make my holiday in Sri Lanka such a memorable one. I hope to see you all again.
Artikel Source : http://www.catsup.co.uk/srilanka.htm
I first went to Sri Lanka 10 years ago and had wanted to return ever since. For a long time, the nearest I ever got to it, was keeping in touch with Sunny, the chauffeur guide who'd helped to make the first trip so memorable. Through photos, I watched his two sons, now 11 and 9, growing up. The damage that the Tamil Tigers did to the island worried me whenever I read about it in the British newspapers, not just for the deaths they caused, but because it also hit tourism and thus had a knock on effect on a family I knew and cared about.
The possiblity of a return first cropped up last Spring, but it was all dependent upon finding a cat sitter to look after the boys. That solved (thanks Eileen, I really appreciated it), Jen, who'd spent 10 years hearing tales of my last trip and had no intention of being left out of this one, and I, started planning in earnest.
We made our own arrangements. This meant that, for a while, we had our flights booked, but no firm hotel booking. We looked around for local evening classes on building your own house out of plaited palm leaves, but they seemed to be thin on the ground. We consoled ourselves with the thought that, if we cut ourselves plaiting the palms, or got bitten by anything unmentionable, at least our holiday insurance was in place and we'd get free treatment! Fortunately, the hotel booking came through well before we needed to put any of these plans into action.
So it was that, on the morning of 14th January 2003, I found myself back in Sri Lanka. Sunny was at the airport to pick us up and take us to the Galle Face Hotel in Colombo. This was to be our base for the duration of our stay.
The Galle Face Hotel is unique. On the ocean, but in central Colombo, it's the oldest hotel on the island. Full of character and with a very imposing frontage, it's still a little old fashioned in terms of furnishings and fittings. We were startled to see a gardener valiantly mowing a vast expanse of lawn with a small, rusty, manual lawnmower. I can also still see the horrified look on the face of the Director of Operations when we excused ourselves at the end of a cocktail reception, held by the hotel for its long term and repeat guests. Our reason? To check if the leaks we'd experienced in our suite during the previous tropical storm had returned during the current one! While the hotel might lack some of the modern touches, state of the art living isn't everything. Far more important to us was that The Galle Face Hotel can't be beaten for its atmosphere and friendliness. I especially liked the little homilies that greeted you in the passageways. "Please do not smoke in bed or the ashes we find may be yours." "Please use the stairs, it's only one flight and it will benefit your health." The front of the Galle Face Hotel. It is the oldest hotel in Sri Lanka and the only hotel actually on the beach in Colombo.
The grounds of the hotel. The pool is behind the palm trees. Detail of the gardener mowing the huge lawns.
Devi and Gunny provided a personal touch when we went to the pool area. Gunny, who knew I liked to write when I was there, always did his best to make sure I had my "special" table. (On one occasion this included trying to remove it from a gentleman who was trying to eat his lunch on it.) Devi gave us the breakdown on the spectacular Sri Lankan weddings that were a daily event there.
Devi, in the blue sari, Gunny in the background and Jen
The hotel's currently being refurbished, so next time we stay there (and nowhere else would be the same now), I hope we find that they've succeeded in their aim of retaining the character, but repairing the leaks!
Neither Jen nor I are lovers of "resorts", so a bonus for us was that whenever we left the hotel we stepped straight into everyday life rather than the artificial society that grows up around a tourist centre. Everyday life however, included negotiating crossing busy main roads. If there's a Highway Code in Sri Lanka, no one seems to take any notice of it. If you're a pedestrian, the general idea seems to be close your eyes, stretch out your hand (palm downwards), and hope the traffic weaves its way around you. That we finished the holiday with all our limbs intact is surely due to the helpfulness of the local people, who allowed us to attach ourselves to them, (metaphorically speaking that is) and led us safely over the road. The local supermarket, "The Elephant House", was only a few hundred yards away. It was not generally used by tourists and we were as much of a novelty to the shop as it was to us. On one occasion, when trying to simplify a transaction only resulted in us complicating it, we even gathered a very goodnatured crowd. They laughed, we laughed and the confusion sorted itself out.
Despite being in Colombo, we were still prey to the local tourist scams, but we'd been well briefed by Sunny. The most common one was to be accosted by individuals who explained to us that they were teachers at the local school for deaf and blind children or, alternatively, the local orphanage, culminating in asking us to sign a paper committing us to donate money. Had even half of the supplicants been telling the truth, Sri Lanka would be remarkable for the vast number of special schools there. Not to mention the amount of children who'd had the misfortune to be orphaned.
The value of money is one of the most startling things about a trip to Sri Lanka. I would never describe myself as poor, but here in the UK I spend my life budgeting in order to pay all the bills and still have enough money left over to be able to afford to do all the things I want to do. In Sri Lanka, I suddenly become seriously rich. Many everyday items are a tenth of the UK price. If I lived in Sri Lanka and budgeted the way I do in the UK, I could probably live comfortably on £10 ($15) a week. It's a very strange feeling. On the one hand, it's wonderful not to have to consider the cost of anything at all. To wander in and out of hotels, the British equivalent of which would have me drawing a sharp intake of breath at the cost of even a cup of tea. To plan tours without having to keep a tally of the cost. To go into a shop and buy without needing to ask the price first. On the other hand, it's uncomfortable being aware of the financial differences between me and my Sri Lankan counterparts, which occur purely as a result of the two different economies.
Sunny had lent us an excellent guide book so we were able to explore a lot of Colombo on foot. To see the rest of the island, transport is a must. Coach and mini bus trips are easily bookable, but by far the best way is to travel with a chauffeur/guide. When the chauffeur/guide also happens to be a long standing friend, the tours become really memorable.
Touring in Sri Lanka requires a degree of stamina. How the chauffeur/guides aren't on their knees by the end of the day is beyond me. Sunny just says, "It's my job, it's what I have to do and I'm used to it." Somehow I can't imagine anyone in Britain coming up with such a philosophical approach.
Here's an example of what we covered in a typical tour day. During our second week, we went on a tour of the west coast. Sunny had asked us to be ready for a 6 am start, so we actually got up at 5.15. Sunny, who had a 40 minute drive to reach our hotel must have been up even earlier. After driving for a couple of hours, we stopped at Bentota for a tea break and, in Sunny's case, breakfast. Then on to a turtle hatchery where we heard how the eggs were collected and saw what happened when they were brought to the hatchery.
The turtle hatcheries collect the eggs, keep them buried in the sand, in a safe area, until they hatch and then keep the babies for 3 days before releasing them into the ocean.
I'm holding two day old babies in this picture.
From Bentota, we went to Ambalangoda to look around a Mask Factory and Museum and to watch the masks being made. Further down the coast at Hikkaduwa, Jen went for a ride in a glass bottomed boat. By this time it was about 12.30 pm.
The boat owner, Jen and Sunny set off for a trip in a glass bottomed boat.
Right on the southwest tip of the island is Galle, the old Dutch capital. A lot of the fortifications are still in place and we were able to stroll along some of the ramparts. But not for too long as Sunny wanted us to see Weligama, a fishing village where the fishermen are famous for "stilt fishing".
Two stilt fishermen at Weligama
At 3 pm we reached Tangalle and finally stopped for lunch. By this time, we'd been on the road for 9 hours.
Whilst waiting for our lunch, we couldn't resist a paddle
My lunch was a soufflé omelette with bananas and palm treacle.
It was absolutely delicious!
From Tangalle, we headed inland to Bundala, one of the National Parks, as Sunny wanted to take us on a jeep safari. Our safari was around an area known for its birdlife,. Along with Sunny, who was for once a passenger, we were escorted by a guide as well as the jeep driver. It will be a long time before Jen and I forget standing by the edge of a lake to stretch our legs, only to have the guide point out a couple of crocodiles basking in the shallows. We were ready to do a standing jump straight into the back of the jeep at the first sign of one of them coming to life and showing an interest in us, but everyone else was most unconcerned. The jeep safari was the last item on Sunny's agenda and from there he took us to a local hotel where we were to spend the night. By the time we arrived at the hotel, it was 7.15 pm.
This was the view of paddy fields from the balcony
of my hotel room.
However beautiful a country, a visit can be made or broken by the friendliness of the people and sometimes, just the little things that you look back on with a smile or a sigh. In Sri Lanka, all were overwhelming.
I will never forget,
Stopping by the roadside to give some children lollipops and biros and seeing a sturdy 3 year old emerge from the nearby house like a bullet out of a gun, little legs flying like pistons and a frantic look on his face at the thought of being too late.
The dignity and close loving bonds of familes so poor it defies anything we see in the UK. Sunny asking a young, barefoot boy why he wasn't at school and being told it was because his family couldn't afford to buy him shoes.
Being told, completely straightfaced, by a young hotel waiter one morning that the hotel had run out of tea. He managed to maintain his deadpan appearance through my disbelief (Sri Lanka is the world's third largest tea exporter), so that I finally began to think he was telling me the truth. Only then did his face break into a huge grin at the success of his practical joke and we all laughed together.
Buying Sri Lankan scratch cards and sitting in open air rest houses drinking tea with Sunny and attempting to win a tuk tuk, one of the many prizes. We'd agreed on a three way split of any winnings, but this proved to be a little difficult with the prizes of 10 and 20 rupees (3.3p & 6.6p respectively), which were all that we ever won.
Jen and Sunny on one of our many tea breaks. Jen had just hit the jackpot
with a 20 rupee win on a scratchcard!
Having the most hair raising ride of my life in a tuk tuk driven through Columbo streets, heavily congested with traffic, by a driver who clearly thought he was immortal.
The sight of the burnt out shell that was all that was left of the bank in Colombo that was bombed by terrorists a few years ago.
Being invited, by the bride's brother, into her wedding reception at the Galle Face Hotel.
All the monkeys and elephants.
Three monkeys renoving fleas from each other. Three elephants keeping a close guard on an orphaned baby as he's washed by a handler.
The realisation that, despite the completely different cultures, religions and lifestyles, we shared the same opinions on many fundamental things and the same sense of humour.
The many kindnesses and the numerous running gags that are too personal to write about here.
Thank you to everyone who helped to make my holiday in Sri Lanka such a memorable one. I hope to see you all again.
Artikel Source : http://www.catsup.co.uk/srilanka.htm
Travelling the Silk Road: Uzbekistan
We crossed into Uzbekistan at Dashogus and immediately notice the change at our first truck lunch stop. The locals are again eager to chat with us to practice their English. It's not that people in Turkmenistan ran away from in fear from the strange foreigners - and hawkers in the markets were as eager to sell us things as anywhere else on Earth - but reflecting on it, I also realised that no one initiated any unnecessary conversations.
Uzbekistan is quite different and also visited by far more tourists since the cities of Khiva, Bukhara, and Samarkand are jewels of the Silk Road. Both are beautiful and filled with interesting historical monuments, museums, and artisans' workshops. Khiva, or at least it's old center, is more of a museum city while Bukhara continues to have a much more lived in feel to it.
I've gotten to a point where I've seen so much that I can't remember the names and historical details of everything I've been seeing without consulting my guidebooks!
Artikel Source :http://backpacking.gapyear.com/overlanding/the_silk_road_uzbekistan.html
Uzbekistan is quite different and also visited by far more tourists since the cities of Khiva, Bukhara, and Samarkand are jewels of the Silk Road. Both are beautiful and filled with interesting historical monuments, museums, and artisans' workshops. Khiva, or at least it's old center, is more of a museum city while Bukhara continues to have a much more lived in feel to it.
I've gotten to a point where I've seen so much that I can't remember the names and historical details of everything I've been seeing without consulting my guidebooks!
Artikel Source :http://backpacking.gapyear.com/overlanding/the_silk_road_uzbekistan.html
Shooting the rapids in Pagsanjan
The sun was out today which was great since we were on our way to Pagsanjan, Laguna to check out the famous waterfalls. After having to deal with a drizzle yesterday morning, this was good news. The drive down south wasn't much of a hassle since we left after rush hour. It surprised me that the traffic in Calamba and Los Banos wasn't as heavy as I expected in to be.
We could have passed by the town of Pila on the way to Pagsanjan but we didn't have much time since it was nearing lunch. As we got into town, we saw large tarpaulin billboards from the LGU announcing that there was a standard rate for boat rides to the falls which was PHP660 per head. It also warned people to book their rides with resorts and inns. There were actually a lot of boatmen along the road pointing us towards the resorts. While taking photos at the Puerta Real of Pagsanjan, we were approached by several boatmen who pointed us towards a resort. Just like yesterday, they would board and accompany you there.
We paid PHP660 each, which included the boat, life vests, and a toll fee which is shared by the municipalities of Pagsanjan, Lumban and Cavinti. An additional PHP90 per head allowed you to ride a bamboo raft that would take you behind the falls and back. But a "hidden" charge which the LGU should try to curb (or include in the standard rate at the very least) are the "optional" tips for the boatmen which aren't optional at all! I ended up paying PHP200 each after the trip (This was the amount which my friend Rhea told me she paid which served as my basis since the boatmen were saying tourists gave them US$45 each and said they would settle for even just half. Nice try).
Anyway, the ride was fun. I have to give it to the boatmen, rowing the boat up the rapids of the Bumbungan River is indeed an art! It amazed me how the two boat men jumped out of the boat when the rapids came up and hopped from rock to rock pulling the small wooden boat upstream against the strong current. I would later learn that one must be licensed to do the job and a six-month training is needed before one can apply for a license. The trip upstream is about an hour while it takes 45 minutes to get back to Pagsanjan town.
The forest on either side of the Pagsanjan Gorge was surprisingly virgin with so much flora and fauna. You could spot monkeys occasionally high up in the trees. During the rainy season, there are at least nine waterfalls in the gorge. But during the summer months, many dry up and only two are left: Pagsanjan Falls and Talahib Falls which serves as a stopover point and rest area for the boatmen and passengers alike.
After taking a few photos, we were off. Several hundred meters away was the main falls which is more popularly known as Pagsanjan Falls. But its real name is Magdapio Falls. At the same time, it is located in the territorial jurisdiction of Cavinti and not Pagsanjan as most people would think.
We checked out the bamboo rafts and it turned out we were unprepared for the fun! I expected we were going to get wet on the raft. But I didn't expect it was equivalent to taking a cold shower with your clothes on! Had I known, we should have worn beach clothing instead. Anyway, we solved that slight problem and boarded the raft.
Detail...
We could have passed by the town of Pila on the way to Pagsanjan but we didn't have much time since it was nearing lunch. As we got into town, we saw large tarpaulin billboards from the LGU announcing that there was a standard rate for boat rides to the falls which was PHP660 per head. It also warned people to book their rides with resorts and inns. There were actually a lot of boatmen along the road pointing us towards the resorts. While taking photos at the Puerta Real of Pagsanjan, we were approached by several boatmen who pointed us towards a resort. Just like yesterday, they would board and accompany you there.
We paid PHP660 each, which included the boat, life vests, and a toll fee which is shared by the municipalities of Pagsanjan, Lumban and Cavinti. An additional PHP90 per head allowed you to ride a bamboo raft that would take you behind the falls and back. But a "hidden" charge which the LGU should try to curb (or include in the standard rate at the very least) are the "optional" tips for the boatmen which aren't optional at all! I ended up paying PHP200 each after the trip (This was the amount which my friend Rhea told me she paid which served as my basis since the boatmen were saying tourists gave them US$45 each and said they would settle for even just half. Nice try).
Anyway, the ride was fun. I have to give it to the boatmen, rowing the boat up the rapids of the Bumbungan River is indeed an art! It amazed me how the two boat men jumped out of the boat when the rapids came up and hopped from rock to rock pulling the small wooden boat upstream against the strong current. I would later learn that one must be licensed to do the job and a six-month training is needed before one can apply for a license. The trip upstream is about an hour while it takes 45 minutes to get back to Pagsanjan town.
The forest on either side of the Pagsanjan Gorge was surprisingly virgin with so much flora and fauna. You could spot monkeys occasionally high up in the trees. During the rainy season, there are at least nine waterfalls in the gorge. But during the summer months, many dry up and only two are left: Pagsanjan Falls and Talahib Falls which serves as a stopover point and rest area for the boatmen and passengers alike.
After taking a few photos, we were off. Several hundred meters away was the main falls which is more popularly known as Pagsanjan Falls. But its real name is Magdapio Falls. At the same time, it is located in the territorial jurisdiction of Cavinti and not Pagsanjan as most people would think.
We checked out the bamboo rafts and it turned out we were unprepared for the fun! I expected we were going to get wet on the raft. But I didn't expect it was equivalent to taking a cold shower with your clothes on! Had I known, we should have worn beach clothing instead. Anyway, we solved that slight problem and boarded the raft.
Detail...
More fun under the Saipan sun
A trip to Saipan would never be complete if you do not set foot on Managaha Island, which most tourists consider as the most beautiful spot in Saipan. Surrounded by a pristine white sand beach and cobalt blue water, the view of the island and the surrounding ocean was nothing but stunning!
Before visiting the island, we boarded the Submarine Sirena owned by Pacific Subsea. As they say, you can dive into Saipan's beautiful aquamarine lagoon without ever getting your feet wet and explore the wonders of this spectacular tropical underwater paradise from the large viewing ports of the big yellow sub. Indeed, this was another way of exploring the world under the ocean, and in style since you were in an air-conditioned submarine!
It was funny that the color of the submarine was yellow and our group was thus singing, “We all live in a yellow submarine, yellow submarine, yellow submarine…” while going on board. Sirena is the only genuine U.S. Coast Guard approved submarine in the Northern Mariana Islands. Under the water, you'll see coral formations, colorful reef fish, sea turtles, and manta rays. We also got to view the sunken wreck of a Japanese warship from World War II.
After one round in the sub, we boarded a ferry which took us to the island. Excitement levels were high as we neared the island since the view of the water and the islands, and the nearby reefs was so picturesque and postcard perfect. No matter which side of the boat you were on, the panorama was stunning for all 360 degrees.
When we got on the island, we first proceeded to the Tasi Tours area to get our snorkeling gear. The water around the island was shallow and the nearby reefs provide some really great opportunities to meet the marine life. Before we got in the water, we too a short walk on the white sand beach in front of the activity area and took some photos.
It was then time to jump in the water to snorkel. The guys on the island gave us fish food so that we could meet the fish up close. We were swarmed by schools of colorful fish when we released the small pellets. But ooops! I found out it was illegal to feed the fish in CNMI. I wonder why they encourage tourists.
You’ll never go hungry on the island since there is a Managaha Lunch Buffet to keep your stomachs filled. In the afternoon, while waiting for our ferry back to Saipan, we got some lounge chairs and took a quick nap under the shade of coconut trees.
We had dinner at Café at the Park where world cuisine meets the Pacific. Their food is a fusion of world-class recipes made with local ingredients. Our meal consisted of hanger steak and blackened parrot fish fillet with potato crouguet and salsa. And the mango sorbet they served for dessert was simply divine! Again, they had WiFi Internet access. Hehe!
We had to rush to the 9 p.m. cocktail show at SandCastle Saipan at the Hyatt Regency. Indeed it was a great show! Hats off to illusionist David Womach and the rest of the cast. I was especially dumbfounded as I watched the Chinese acrobats bend their bodies in extraordinary shapes I never thought humans were capable of doing.
No doubt, there is so much more to see and do in this island paradise and the other islands of the Northern Marianas. But I am most certain that the five days spent in Saipan was five days utilized to the fullest. And I am looking forward to my next adventure in the Northern Marianas.
I'll be back in the Philippines tomorrow, and back to school and more work. Hehe! Check out my photos at http://ivanhenares.multiply.com.
Photo credits: Karlo de Leon who took most of my photos, Jodi Madridejos and Cheche Lazaro.
Philippines featured
I was delighted to read in the in-flight magazine of Continental Airlines that Manila is one of eight cities featured in the article "The List: Eight great places for a laugh." Seattle tops that list.
The entry for Manila reads: "According to a 2005 global survey. Filipinos - with their care free que sera sera ("bahala na") attitude and lack of words for depression and boredom - are the happiest people in Asia. Shiny Jeepney taxis ride to scores of street parties throughout the city and outskirts for endless revelry, raucous dancing, and crazy costumes. Festivals center around water fights, a parade of enormous lanterns and suckling pigs sitting in chairs, houses dripping in fruits and veggies, water buffalo races, and the best-dressed tuna. Other attractions include the Banaue rice terraces and the unofficial pastime - karaoke."
Funny but most festivals alluded to are in the outskirts of Manila like the Giant Lantern Festival of San Fernando, Pampanga; Parada ng mga Lechon of Balayan, Batangas; Pahiyas Festival of Lucban, Quezon; Carabao Festival of Pulilan, Bulacan; and the Tuna Festival of General Santos City way down south.
Detail...
Before visiting the island, we boarded the Submarine Sirena owned by Pacific Subsea. As they say, you can dive into Saipan's beautiful aquamarine lagoon without ever getting your feet wet and explore the wonders of this spectacular tropical underwater paradise from the large viewing ports of the big yellow sub. Indeed, this was another way of exploring the world under the ocean, and in style since you were in an air-conditioned submarine!
It was funny that the color of the submarine was yellow and our group was thus singing, “We all live in a yellow submarine, yellow submarine, yellow submarine…” while going on board. Sirena is the only genuine U.S. Coast Guard approved submarine in the Northern Mariana Islands. Under the water, you'll see coral formations, colorful reef fish, sea turtles, and manta rays. We also got to view the sunken wreck of a Japanese warship from World War II.
After one round in the sub, we boarded a ferry which took us to the island. Excitement levels were high as we neared the island since the view of the water and the islands, and the nearby reefs was so picturesque and postcard perfect. No matter which side of the boat you were on, the panorama was stunning for all 360 degrees.
When we got on the island, we first proceeded to the Tasi Tours area to get our snorkeling gear. The water around the island was shallow and the nearby reefs provide some really great opportunities to meet the marine life. Before we got in the water, we too a short walk on the white sand beach in front of the activity area and took some photos.
It was then time to jump in the water to snorkel. The guys on the island gave us fish food so that we could meet the fish up close. We were swarmed by schools of colorful fish when we released the small pellets. But ooops! I found out it was illegal to feed the fish in CNMI. I wonder why they encourage tourists.
You’ll never go hungry on the island since there is a Managaha Lunch Buffet to keep your stomachs filled. In the afternoon, while waiting for our ferry back to Saipan, we got some lounge chairs and took a quick nap under the shade of coconut trees.
We had dinner at Café at the Park where world cuisine meets the Pacific. Their food is a fusion of world-class recipes made with local ingredients. Our meal consisted of hanger steak and blackened parrot fish fillet with potato crouguet and salsa. And the mango sorbet they served for dessert was simply divine! Again, they had WiFi Internet access. Hehe!
We had to rush to the 9 p.m. cocktail show at SandCastle Saipan at the Hyatt Regency. Indeed it was a great show! Hats off to illusionist David Womach and the rest of the cast. I was especially dumbfounded as I watched the Chinese acrobats bend their bodies in extraordinary shapes I never thought humans were capable of doing.
No doubt, there is so much more to see and do in this island paradise and the other islands of the Northern Marianas. But I am most certain that the five days spent in Saipan was five days utilized to the fullest. And I am looking forward to my next adventure in the Northern Marianas.
I'll be back in the Philippines tomorrow, and back to school and more work. Hehe! Check out my photos at http://ivanhenares.multiply.com.
Photo credits: Karlo de Leon who took most of my photos, Jodi Madridejos and Cheche Lazaro.
Philippines featured
I was delighted to read in the in-flight magazine of Continental Airlines that Manila is one of eight cities featured in the article "The List: Eight great places for a laugh." Seattle tops that list.
The entry for Manila reads: "According to a 2005 global survey. Filipinos - with their care free que sera sera ("bahala na") attitude and lack of words for depression and boredom - are the happiest people in Asia. Shiny Jeepney taxis ride to scores of street parties throughout the city and outskirts for endless revelry, raucous dancing, and crazy costumes. Festivals center around water fights, a parade of enormous lanterns and suckling pigs sitting in chairs, houses dripping in fruits and veggies, water buffalo races, and the best-dressed tuna. Other attractions include the Banaue rice terraces and the unofficial pastime - karaoke."
Funny but most festivals alluded to are in the outskirts of Manila like the Giant Lantern Festival of San Fernando, Pampanga; Parada ng mga Lechon of Balayan, Batangas; Pahiyas Festival of Lucban, Quezon; Carabao Festival of Pulilan, Bulacan; and the Tuna Festival of General Santos City way down south.
Detail...
Jogja Complete Tour
Jogja Complete tour is a tour designed for people from different ages. Senior people will also be thrilled to join this trip. In this trip you will be taken to see the magnificent Borobudur, a Buddhist temple from the ninth century. Also you will see the bizarre Prambanan, a Hindu temple from the sixth century, the Sultan’s Kraton, traditional bird market, pottery village, batik garment home industry and many more.
Your Itinerary
Day 1: Today is your arrival day. Check in the hotel or homestay of your choice. You can take a rest for awhile. Eat breakfast or lunch depending on your arrival time. Afterwards, we will start our tour by introducing the city of Yogyakarta. You will be taken on a Yogyakarta city tour. Visiting downtown, passing through governor office, Sultan Palace, Kraton, and the art-road Malioboro street. You will have lunch at a local restaurant. At night, you will be taken to see Yogyakarta’s nightlife, and taste the local junk food prepared by the street vendors. Included: (B), (L), (D).
Day 2: After breakfast, you will go to Muntilan, a small village located about 30 km or 20 miles north of Yogyakarta to see the magnificent Borobudur. A Buddhist temple built in the ninth century. It’s one of the seven wonders of the world. Then, you will have lunch at the local restaurant, which serve delicious Javanese cuisine and also international cuisine. After lunch, we will visit the village Kaliurang located at the foot of mount Merapi, a very active volcano. Then returning to Yogyakarta to have dinner. Afterwards you have free time to explore Yogyakarta at night. Included: (B), (L), (D).
Day 3: Today you will go to see Prambanan, a very ancient Hindu temple built at around sixth century. Legend has it that the bizarre architecture was built in one night by elves. Then we will visit the Sultan Kraton. It was a palace for the King of Yogyakarta with the Javanese ancient architecture. After eating “Gudeg” a traditional Javanese cuisine, we will take you to see pottery and if time permit we will visit Batik garment home industry. Included: (B), (L), (D).More
Your Itinerary
Day 1: Today is your arrival day. Check in the hotel or homestay of your choice. You can take a rest for awhile. Eat breakfast or lunch depending on your arrival time. Afterwards, we will start our tour by introducing the city of Yogyakarta. You will be taken on a Yogyakarta city tour. Visiting downtown, passing through governor office, Sultan Palace, Kraton, and the art-road Malioboro street. You will have lunch at a local restaurant. At night, you will be taken to see Yogyakarta’s nightlife, and taste the local junk food prepared by the street vendors. Included: (B), (L), (D).
Day 2: After breakfast, you will go to Muntilan, a small village located about 30 km or 20 miles north of Yogyakarta to see the magnificent Borobudur. A Buddhist temple built in the ninth century. It’s one of the seven wonders of the world. Then, you will have lunch at the local restaurant, which serve delicious Javanese cuisine and also international cuisine. After lunch, we will visit the village Kaliurang located at the foot of mount Merapi, a very active volcano. Then returning to Yogyakarta to have dinner. Afterwards you have free time to explore Yogyakarta at night. Included: (B), (L), (D).
Day 3: Today you will go to see Prambanan, a very ancient Hindu temple built at around sixth century. Legend has it that the bizarre architecture was built in one night by elves. Then we will visit the Sultan Kraton. It was a palace for the King of Yogyakarta with the Javanese ancient architecture. After eating “Gudeg” a traditional Javanese cuisine, we will take you to see pottery and if time permit we will visit Batik garment home industry. Included: (B), (L), (D).More
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