Using Elliott Wave To Trade Forex Markets

Posted on July 9, 2016 by Anthony Jerdine

Using Elliott Wave To Trade Forex Markets
By Anthony Jerdine

In terms of the total value of all transactions, the forex market has become the largest market in the world. As the economies of countries across the globe become more and more intertwined, the relationship between the currencies of various countries grows in importance. It is this development that continues to drive interest in the forex markets. This article will examine a method to trade forex markets using the Elliott Wave Theory.

The Elliott Wave Theory
The Elliott Wave Theory is a method of analysis developed by Ralph Nelson Elliott (1871-1948) that is based on the theory that, in nature, many things happen in a five-wave pattern. As applied to the financial markets, the assumption is that a given market will advance in a pattern of five waves – three up waves, numbered 1, 3 and 5 – which are separated by two down waves, number 2 and number 4. The theory further holds that each five-wave up-move will be followed by a down-move also consisting of five waves – this time, three down waves, numbered 1, 3 and 5, separated by two up waves numbered two and four.

In addition, the theory holds that each of the countertrend waves – i.e., wave number 2 and number 4 – will unfold in an ABC pattern. In other words, during waves 2 and 4 of a five-wave uptrend, the security in question will retrace part of the wave 1 advance in a pattern consisting of two smaller down waves (labeled A and C) separated by one up wave (labeled B). Likewise, during waves 2 and 4 of a five-wave down-trend, the security in question will retrace part of the wave one decline in a pattern consisting of two smaller up-waves (labeled A and C) separated by one down-wave (labeled B).

In reality, things typically do not unfold in such a neat, clean, and easy to follow five-wave pattern. As a result, many individuals who espouse a belief in Elliott Wave analysis nevertheless end up interpreting the current wave count differently than other adherents. And in fact, it can be argued that the Elliott Wave is as much an art as it is a science, and that various interpretations are to be expected.

As such, one important thing to note is that this article is not so much about how to generate an Elliott Wave count – since so many individuals end up with different interpretations – but rather about how to trade forex markets using the Elliott Wave as the driving force. For the purposes of this article, I will use the Elliott Wave count as generated objectively by ProfitSource source software by Hubb. The software has an automated algorithm for generating and displaying the wave count.

It should be noted that the preferred count can change dramatically from one day to the next based on the built-in algorithm, and that another person or program may arrive at a different interpretation of the wave count and any given point in time. Still the benefit of using this method is that for better or worse, the count is calculated using an objective algorithm and is not open to subjective interpretation.

Laying Out the Steps of a Plan
Before embarking on any trading campaign it is essential to have a plan in place. So let’s set up a straightforward plan for using Elliott Wave as a basis for trading forex markets. Here are the steps that we will employ:

Step 1. Select a method for generating an Elliott Wave count.
This may be based on your own analysis, or via some charting or analysis software. As mentioned, we will use the wave count generated by ProfitSource software by HUBB.
Step 2. Wait for a wave 5 to begin.
In ProfitSource this occurs when a wave marked as “3” changes to a wave marked as “4” (this actually indicates the end of wave 4 and the start of wave 5). Waiting for this to occur can be the toughest part, for this step can require a great deal of patience. A given single forex market may experience the setup that we are looking for only a few times a year.
Step 3. Look for confirmation of the trend using another indicator or indicators.
Long Setup Confirmation: Once a wave 3 above the price bar changes to a wave 4 marked below the price bar we will then assess the following indicators to confirm that a long trade should be made:
90-day Commodity Channel Index (CCI) is positive (i.e., greater than zero)
The three-day relative strength index reverses to upside for one day.
These two confirming actions do not have to take place on the day that the wave number changes from 3 to 4. As long as the both occur at some point prior to the wave count being something other than 4, then a confirmation is considered to be in force and we will enter a long trade.

Short Setup Confirmation: Once a wave 3 below the price bar changes to a wave 4 marked above the price bar we will then assess the following indicators to confirm that a short trade should be made:

90-day CCI is negative (i.e., greater than zero)
The three-day RSI reverses to downside for one day
These two confirming actions do not have to take place on the day that the wave number changes from 3 to 4. As long as the both occur at some point prior to the wave count being something other than 4, then a confirmation is considered to be in force and we will enter a short trade.

Step 4. Identify a reasonable stop-loss point.
For a long setup we will subtract three times the three-day average true range from the low established leading up to the trade as our initial stop-loss point. For a short setup we will add three times the three-day average true range to the high established leading up to the trade, and use this as our initial stop-loss point (See example to follow).
Step 5. Enter trade and stop-loss order.
We will assume that a trade is entered at the next day’s open price. The stop-loss order will also be placed. This order is a trailing stop and we be updated each day that the trade is open.
Step 6. Consider taking some profits on first good move and trail a stop for the rest of the position.
Trade Exit Plan
1. If stop-loss order is hit then the entire trade is exited.

2. If the three-day RSI reaches 85 or higher for a long trade, or 15 or lower for a short trade, or if the wave count changes from 4 to 5, we will sell half and adjust our trailing stop as follows:

For a long trade we will use a trailing stop that subtracts one times the three-day average true range from the previous day’s low.
For a short trade we will use a trailing stop that adds one times the three-day average true range to the previous day’s high.
3. If the wave count changes to something other than a wave 5, we will simply exit the trade on the next day.

Example Setup and Trade
In Figure 1 we see the setup for a short trade. On the most recent trading day, the blue number 4 first appeared above the price bar. Prior to the day, a blue number 3 had appeared below each price bar for the past several days. This suggests that a wave 5 decline may be setting up.

Below the bar chart you can see that the three-day RSI ticked lower on the day and that the 90-day CCI is in negative territory. This confirms the setup and constitutes a sell short signal, so we also calculate our stop-loss price by adding three times the average true range over the last three days to the current day’s high price. On the next day the euro/yen cross was sold short at 112.63 and a trailing stop was entered at 117.74.
Figure 1 – A sell short setup for the euro/yen cross is completed.
In Figure 2 you can see that roughly a month later the three-day RSI registered a reading below 15. As a result, on the next day we would have bought back half of our position at 109.50 and also adjusted our trailing stop to only one times (rather than three times) the average true range over the past three days added to the current day’s high, thus generating a much tighter trailing stop (this tighter stop does not appear until Figure 3).
Figure 2 – Three-day RSI signal profit-taking opportunity; half of short position is covered and trailing stop is tightened.
Finally, in Figure 3 you can see that the euro/yen cross worked slightly lower over the next several weeks, but ultimately our trailing stop was hit and the remaining portion of our original short position was closed out at 109.44.
Figure 3 – Trailing top is hit; trade is exited.

Conclusion
There are many ways to interpret an Elliott Wave count. There are also many methods for entering and exiting trades once a signal is deemed to have occurred. This article serves as an example of just one way to go about performing these tasks. Whatever method one ultimately chooses the keys to successful implementation are to:

Develop some objective way to interpret the current Elliott Wave count. Consider employing some sort of filter or filters to ensure a valid trading signal.
Always have a stop-loss point.
Consider taking profits on the first good move in the expected direction and then letting the rest ride with a trailing stop.

Strength Training

Posted on July 4, 2016 by Anthony Jerdine

The rumors aren’t true
I’ve got to warn you. There are false rumors going around about strength training.

The truth is that strength training is one of the absolute best things you can do for your health and appearance.

If you’ve fallen for these 5 myths then you’re missing out on tremendous potential results.

Myth #1 Muscle Turns Into Fat

Why would anyone want to build muscle if it could morph into fat after a span of disuse? Rest assured that this is a myth of the highest order.

Muscle tissue is muscle tissue. Fat tissue is fat tissue. One will never become the other.

Myth #2 Strength Training Doesn’t Burn Fat

On the contrary, muscle mass is your number one ally against fat gains.

A pound of muscle burns 10-20 calories each day, while you’re just living and breathing. Regular strength training helps you increase your muscle mass as well as preserve existing muscle mass, turning you into a fat burning machine.

Myth #3 Lifting Weights Makes Women Bulk Up

Yes, strength training increases the amount of muscle on your body; so many women take this to mean that their body will become body-builder-esque, which is quite the look you’re going for.

The truth is that the female body simply doesn’t contain high enough levels of testosterone to produce that level of results without a very focused and dedicated effort.

The tighter, toned figure of a recreational female weight lifter is every bit feminine.

Myth #4 Strength Training Is For Young People Only

Ha, that’s a used-up excuse that senior citizens across the globe have shattered.

Assuming that your doctor has given you the OK, you have much to gain from a regular weight lifting routine.

Improved balance and coordination, better strength and flexibility, and a decreased risk of osteoporosis are just the beginning.

Myth #5 Use Light Weight and High Reps To Tone

This myth, popularized in the 90’s, that very high repetitions of very light weights would result in a toned physique, has become outdated. These high repetitions will increase your muscular endurance but will not add strength or tone.

We now know that in order to truly challenge your muscles, heavier weights with lower repetitions are a must. Start with an 8-10 repetition range and push your muscles with each set.

Including strength training as a part of your fitness routine is essential for achieving a fit and toned body.

3 Reasons Million-Dollar Homes Are in a Slump

Posted on May 13, 2016 by Anthony Jerdine

3 Reasons Million-Dollar Homes Are in a Slump
By Anthony Jerdine | May 13, 2016

The average sale price of U.S. luxury homes was down 1.1%, marking the largest decline in more than two years, according to Redfin, a company that provides web-based real estate database and brokerage services for residential markets. This slump marks a significant shift from a few years ago: Following the financial crisis of 2008, the wealthy enjoyed a strong recovery, and luxury housing was the top segment of the real estate market.

Today, home prices for the broader housing market – the other 95% – have risen 4.7% year-over-year, while the top 5% has become one of the weakest real estate segments. “For years, the high end was driving sales and price,” said Nela Richardson, chief economist at Redfin. “Now, the demand is at the middle and lower price range.” Here is a look at three factors that are contributing to the slump.

1. Stock Market Volatility
It’s not unusual for high-end buyers to tap into their investment portfolios to finance luxury home purchases, either by cashing out a few stocks or borrowing against the portfolio using a non-purpose loan – a type of margin loan that uses the investment portfolio as collateral. Historically, high-end housing is hit the hardest by stock market downturns. “As you go up the income quintile, into the top 10%, 5%, 1% by income, their stock exposure increases,” said CoreLogic deputy chief economist Sam Khater. “For the typical family, the bulk of their equity is tied up in home equity, not stock equity. It’s the reverse for high income.”

The first two months of this year tested a lot of nerves on Wall Street as investors feared a repeat of the 2008 financial crash. The volatility has left some would-be luxury buyers cautious, and rather than jumping in now with all the volatility and uncertainty – both here and in overseas financial markets – many luxury buyers have decided to wait and see what happens in the second half of 2016 before making any decisions about entering the real estate market.

2. A Strong U.S. Dollar
Overseas buyers bought $104 billion in U.S. real estate – about 8% of the total existing home sales’ dollar volume – during the one-year period ending March 2015, according to a report from the National Association of Realtors (NAR). Buyers from China, Hong Kong and Taiwan were the top foreign buyers of real estate, accounting for nearly $29 billion in sales.

Now, demand from foreign buyers is weakening in response to a strong U.S. dollar (and the relative weakness of other currencies), coupled with higher home prices for those buyers – a situation that greatly affects the affordability of high-end properties. In January, for example, the median price of existing U.S. homes was 67% higher than a year ago for buyers from Brazil, due to changes in the exchange rate, according to NAR. For Canadian buyers, the price increased 27%, and for Chinese buyers, 14%.

3. Oversupply at the Top
During the first quarter of 2016, the number of luxury homes on the market – defined as the most expensive 5% of homes sold in a quarter – increased from a year prior, according to analysis from Redfin. For homes for sale above $1 million, there was a 3.3% rise in inventory, to 70,962; homes listed above $5 million were up 13.2%. “There is oversupply at the high end, especially in certain pockets and cities,” said Redfin’s Richardson. “They should be flying off the shelves, but these homes are just sitting there.”

Deeper inventory, paired with more nervous luxury buyers, has led to price cuts across the country. In Los Angeles, for example, an $18.8 million home sold for $10 million in the first quarter of this year. A $14 million home in The Woodlands, Texas, sold for half that – $7 million. During the same quarter, the highest-priced sale (outside of New York) was a 2.2-acre estate in North Laguna, Calif. listed for $75 million. It sold for $45 million – a 40% discount.

The Bottom Line
Across the United States, the average sale price of U.S. luxury homes fell 1.1%, but certain markets have been hit harder than others. In Miami Beach, for example, a surplus of luxury development, combined with fewer foreign buyers, led to a 13.7% drop in luxury home prices. In Austin and Boston – considered hot real estate markets today – prices in the top 5% fell almost 12%, while at the same time, prices for the other 95% of the market rose 5.1% and 6.3%, respectively. Prices for luxury real estate may continue to drop while there’s volatility in the stock market, an oversupply at the top and foreign buyers are skittish.

6 Things to Understand about Human Brain

Posted on April 21, 2016 by Anthony Jerdine

I was reading a good Book on a beautiful Cleveland morning. The author of Riveted explains how you can make your message go viral (it takes real skill, or you will be ignored and forgotten).

Jim Davies says you have to understand 6 things about the human brain to win friends and influence people:

1. We are interested in stories about humans…

2. We pay particular attention to things we hope or fear are true…

3. We delight in finding patterns…

4. We are attracted to incongruity, apparent contradictions, novelty, and puzzles…

5. The nature of our bodies—the nature of our eyes and other sense organs, affects what kinds of things draw us…

6. We have certain psychological traits, many of which are evolved, that make us like and dislike, believe and disbelieve…

So when you speak, write, and interact with other people, make sure you utilize all 6 of these to compel, fascinate, and persuade everyone you meet.

Oil Stocks Jump

Posted on April 13, 2016 by Anthony Jerdine

Oil Stocks Jump on Promised Production Freeze
By Anthony Jerdine April 13, 2016

Shares of offshore driller SeaDrill Limited (SDRL) skyrocketed Tuesday, climbing almost 30% to a high of $3.99, fueled by a 4.5% rise in oil prices. This continues the tug-of-war between the bulls and bears the market has witnessed over the past couple of weeks.
Another Case of “Too Fast, Too Soon?”
On Tuesday the bulls sent oil prices higher on reports that Saudi Arabia and Russia have agreed to a production freeze ahead of the producers meeting in Doha, Qatar on Sunday. This was further driven by a Reuters report suggesting the government expects the U.S. crude output to decline by 560,000 barrels per day in 2017 to 8.04 million barrels per day.

“People are now realizing that this OPEC meeting could be a historic turning point for the market,” Phil Flynn, an analyst at Price Futures Group, told Reuters. “Now, with U.S. production cuts, our sense is that we’re entering a new cycle upwards.”

SDRL shares closed Tuesday at $3.83, rising 24.35%. The company makes money from drilling contracts, supplying drilling services for oil and gas wells. And as oil prices rise, it raises optimism about the company’s potential revenue in the quarters ahead. Not to mention, rising oil improves the prospects for more favorable drilling contracts. But is this another case of “too fast, too soon?”

As it now stands, U.S. oil prices are now at their 2016 highs and well above $40 per barrel – an important near-term psychological benchmark. On Tuesday, Crude oil (West Texas Intermediate) closed at $42.17 per barrel, while Brent crude closed up $1.86, or 4.3% at $44.69, according to CNBC.com. But as we’ve seen in recent weeks, oil can take a sudden negative turn.

Investors should remain vigilant, if not a bit skeptical, that a meeting between members of OPEC (Organization of Petroleum Exporting Countries) Sunday will result in a production freeze.

“The market appears to be taking a lot of support from positive statements. But, this isn’t the first time the Russians have come out and made remarks related to a production freeze being imminent,” said Gene McGillian, a senior analyst at Tradition Energy, according to CNBC.
Despite Tuesday’s massive rise in the share price, SDRL stock has suffered 64% declines over the past twelve months, compared to a 2% decline in the S&P 500 (SPX) index during that same span. Is now the best time to take some profits from SDRL shares? The stock has a consensus sell rating and an average analyst 12-month price target of $1.73, implying a decline of 55% from Tuesday’s close.

Law of Attraction

Posted on April 11, 2016 by Anthony Jerdine

The Law Of Attraction is a modern spin on ancient philosophies. Through conceptualization and effort we can draw more positive elements and opportunities to us. If we imagine an opportunity or aspect of reality and focus on it, working towards that goal, we can manifest our desires and wishes.

It’s a simple concept that a lot of people complicate. Below is a checklist of common occurrences that happen as we start to strengthen and broaden our communication with the universe or higher power.

You Always Feel Ready For Change

You aren’t afraid to face your fears and challenges head on, giving everything you’ve got to life. You accept the things you can’t change and are grateful for what you can change. Change is a necessary and unstoppable part of life. By welcoming constantly in flux aspects of life, we ensure that we are in a position to best take advantage of our shifting horizons.

Your Attention Is Kept On The Present Moment

The present moment is the only time frame that we have power over. The past is irreversible and subject to interpretation depending on why we are looking backwards. The future is completely uncertain and full of assumptions and expectations. The best way to manifest a better tomorrow is to keep our present moment in line with our intentions.

You Naturally Turn The Negative Into Positive

You understand that you won’t be successful at everything you do all the time. Besides our own shortcomings sometimes negative aspects pile up at our feet, seeming to limit our options. You use the negative in your life to serve your best interests. Treat negativity like you would fertilizer or manure, use it to strengthen and grow other formations within you. Learn from your mistakes and don’t let them haunt you.

You Feel Happy And Content

Your abilities give you a sense of Zen, regardless of what’s going on in your life. You are confident in your ability to roll with the punches and maximize your harvest of good things in your life. Even when everything seems counter intuitive and wrong you understand these feelings will pass.

Good Things Keep Happening To You

Despite any hiccups or shortcomings, you always seem to come out on top. This is due to the fact that you’re flexible mentality and forward moving momentum help you adapt and maximize any possible benefits. Also, you have learned to be appreciative for what you have, so this celebration attracts more benefits to you.

ChartAdvisor 3/27/16 (SPY,DIA)

Posted on March 27, 2016 by Anthony Jerdine

By Anthony Jerdine| March 27, 2016

The U.S. markets moved lower over the past week, as of Thursday’s close, with the steepest declines coming from small-cap stocks in the Russell 2000. With crude oil prices falling nearly 4%, hopes that the crude market rally could save struggling U.S. oil producers were dashed by record levels of supply build-up. There is also growing concern over the weakening of U.S. manufacturing, particularly amid dovish monetary policy decisions out of the European Central Bank (ECB) and Bank of Japan (BOJ).

International markets were mixed over the past week, as of Thursday’s U.S. close. Japan’s Nikkei 225 rose 1.3%; Germany’s DAX 30 fell 1%; and, Britain’s FTSE 100 fell 1.2%. In Europe, Markit PMI readings picked up in March in a sign that the region avoided a further slowdown in March. In Asia, China has shown some signs of strength during the first quarter of this year, although regulators believe that there’s still a lot of reforms that need to be pushed through to grow.

inRead invented by Teads
The S&P 500 SPDR (ARCA: SPY) fell 0.69% over the past week, as of Thursday’s close. After briefly touching its R2 resistance at 204.98, the index moved lower toward its trend line support. Traders should watch for a breakdown toward the 200-day moving average at 199.58 or a rebound to retest its R2 resistance. Looking at technical indicators, the RSI remains overbought at 63.75, while the MACD could see a bearish crossover over the near-term.

SPY Chart

The Dow Jones Industrial Average SPDR (ARCA: DIA) fell 0.43% over the past week, as of Thursday’s close. After briefly breaking through its R2 resistance at 175.42, the index retreated toward its trend line support. Traders should watch for a breakdown to R1 support at 170.01 or a rebound higher to retest its prior highs just above its R2 resistance. Looking at technical indicators, the RSI is overbought at 68.36, while the MACD could be coming to the end of an uptrend.

DIA Chart

The PowerShares QQQ Trust (NASDAQ: QQQ) fell 0.1% over the past week, as of Thursday’s close. After briefly breaking above its 200-day moving average, the index fell lower toward its R1 support at 106.27. Traders should watch for a rebound toward R2 resistance at 110.35 or a move lower toward its 50-day moving average at 102.81. Looking at technical indicators, the RSI appears modestly overbought, while the MACD may experience a bearish crossover.

QQQ Chart

The iShares Russell 2000 Index ETF (ARCA: IWM) fell 2.23% over the past week, as of Thursday’s close. After nearly reaching its R2 resistance at 110.19, the index fell to its R1 support at 106.03 and has remained near those levels. Traders should watch for a rebound to its R2 resistance or a drop to its trend line support at around 102.50. Looking at technical indicators, the RSI remains neutral at 55.42, but the MACD could see a near-term bearish crossover.

IWM Chart

The Verdict
The major indexes moved lower over the past week, as of Thursday’s close, but many still appear overbought based on their RSI readings. Next week, traders will be closely watching several important economic reports, including crude oil inventories on March 30 and employment data on April 1.

Plastic Water Bottles Safe?

Posted on March 26, 2016 by Anthony Jerdine

It wasn’t that long ago that reusable bottles made of clear, polycarbonate plastic were all the rage — remember the Nalgene bottle every college kid in the country was toting around?

Then the National Toxicology Program released a report about the potential health risks from a chemical in the polycarbonate known as bisphenol A, or BPA — an additive that makes the plastic more shatter-proof.

BPA acts as a faux-estrogen and has been linked to a long list of maladies, including asthma, cancer, infertility, low sperm count, heart disease, liver problems and ADHD. And, in some cases, the effects appear to have been passed down, meaning the chemical reprograms an individual’s genes and causes disease in future generations.

Consumer outrage ensued. In response, manufacturers, including Nalgene, which had become the poster child for this type of plastic, announced they would replace their polycarbonate bottles with a new version that was BPA-free. Problem solved? Not exactly.

THE PROBLEM WITH “BPA-FREE”

CamelBak-brand water bottles on display at an outdoor supply store in Arcadia, Calif., in 2008. The company removed BPA from the plastic in its bottles.
CamelBak-brand water bottles on display at an outdoor supply store in Arcadia, Calif., in 2008. The company removed BPA from the plastic in its bottles.For all intents and purposes, the new co-polyester BPA-free plastic is an almost undistinguishable substitute. Marketed as a safe alternative to polycarbonate, it is just as hard, just as sleek and just as durable But there is one very big caveat — it’s not clear just what the BPA was replaced with, and whether or not that chemical has been tested for estrogenic activity.

As it is, there are more than 80,000 chemicals that are used in commerce in the United States, and only a very small fraction of these have ever been tested for safety. Under the U.S. regulatory system, chemicals are generally presumed safe until proven otherwise. This is how BPA slid under the radar for so long.

But BPA is not the only chemical in plastics that could act like estrogen.

There are two known BPA replacement chemicals: Bisphenol S and F, known as BPS and BPF. These two compounds function very similarly to BPA, helping the plastic achieve a solid and sturdy consistency. Research published last year indicated that BPF and BPS may act as endocrine disruptors messing with hormones — similar to what BPA does. And based on these findings, the authors conclude that these two BPA substitutes are both as “hormonally active as BPA.”

Just how many other chemicals could be cause for consternation? According to George Bittner, professor of neuroscience at the University of Texas at Austin, there are at least a couple hundred other chemicals that are used to make some kinds of plastics that are almost certainly as much a problem as BPA.

In an analysis of 450 BPA-free plastic containers — including baby bottles, sippy cups and water bottles — Bittner and his colleagues found:

“Almost all commercially available plastic products we sampled, independent of the type of resin, product, or retail source, leached chemicals having reliably-detectable estrogenic activity, including those advertised as BPA-free. In some cases, BPA-free products released chemicals having more than BPA-containing products.”

The only problem is that these tests were unable to determine the culprit. But just like BPA, the problematic chemicals used in these plastic products did lead to endocrine disruption, which is associated with higher rates of certain cancers, altered reproductive functions, early puberty, obesity, learning disabilities and behavioral changes.

MAJOR REGULATORY GAPS

As the biological research on the health hazards of plastic products continues to pile up, the obvious question becomes: Why aren’t manufacturers providing more transparency when it comes to the chemicals being used? Well, the short answer (and the frustrating one) is that they simply don’t have to.

In the United States, bottled water and tap water are regulated by two different agencies — the U.S. Food and Drug Administration (FDA) regulates bottled water and the U.S. Environmental Protection Agency (EPA) regulates tap water. And the disparity is astonishing.

The Safe Drinking Water Act empowers the EPA to require water testing by certified laboratories and that violations be reported within a specific time frame. Public water systems must also provide reports to customers about their water, noting its source, evidence of contaminants and compliance with regulations.

The FDA, by comparison, regulates bottled water as a packaged food item, and cannot require certified lab testing or violation reporting. The FDA also does not require bottled water companies to disclose where the water came from, how it has been treated or what contaminants it contains.
The University of Iowa Water Confidence Report

The BPA issue did little to influence the FDA’s protocol and mandates. In fact, in February of 2014, a group of FDA scientists published a study finding that low-level exposure to BPA is safe. They touted this study as evidence that the long-standing concerns about the health hazards of BPA were unfounded. That is — the roughly 1,000 published studies which found that low-level exposure to BPA can lead to serious health problems were simply inaccurate.

The plastics industry and the agencies that regulate BPA sided with the FDA’s position.

WHAT YOU CAN DO

While regulators and the plastics industry continue to challenge the science on the real-world harms of plastic water bottles, many scientists are saying the stakes are simply too high, and the alternatives too easy, to ignore.

The bottom line is that most plastics are made from petroleum (oil or natural gas) and can contain a whole host of other chemicals that are never labeled and that can be toxic. And amidst the murky waters of marketing — where we are lead to believe that bottled water is cleaner and more pure, and BPA-free means you are in the clear — arming yourself with knowledge and becoming more cognizant about what you are ingesting is your best defense.

The next time you fill your plastic water bottle up, or purchase a disposable bottle, check the container’s resin identification number — the number found inside the triangle of chasing arrows. While not all plastics labeled “7” — a category that is a general catch-all for plastics than do not fit into categories 1-6 — contain BPA, it’s still a good identifier, as are the letters “PC.” Also take caution that many of the bottles labeled as “BPA-free” also fall into this category.

Plastic bottles with recycling code “3” should also heed caution, as they may contain phthalates. Known as the “everywhere chemical,” phthalates are a group of man-made chemicals that help make plastics more flexible and more difficult to break, and have been shown to leach into bottled water over time. Recent research has linked phthalates to an increased risk of high blood pressure and diabetes in children and adolescents, and a higher risk of miscarriage in women. And still other studies have associated phthalate exposure with reproductive and genital defects, lower testosterone levels in adolescent males, and lower sperm count in adult males.

Plastic #1, or PET, short for polyethylene terephthalate, also warrants a cautious eye. Studies suggest that PET plastics used for water bottles leach antimony, a metalloid element that is a classified carcinogen. In small doses, antimony can cause dizziness and depression. And in larger doses, it can cause nausea, vomiting and death. And while the study does stress that the amounts of antimony were well below official recommended levels, it also discovered that the levels almost doubled when the bottles were stored for three months.

Trade Forex On Herd Instinct

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The herd instinct refers to the tendency to follow an established trend.

Six currency pairs account for two-thirds of all forex​ trading volume. Currency traders closely monitor each and use technical analysis to spot buy and sell signals. Once a key technical sign appears, other traders jump in and reinforce the trend.

You can use the herd instinct to your advantage by trading on the majority view and established trends in global markets.

Currency action over recent years has revealed a few common herd instinct trades.

When the Chinese economy is growing strongly, consider going long on the Canadian and Australian dollar versus the greenback.

When global growth slows, short the Canadian and Australian dollars and go long on the U.S. dollar and Swiss Franc.

Remember that the yen is volatile. Plan your exit even before determining your entry into a yen-based currency carry trade.

Inexperienced forex traders should consider a few additional tips:

1. Stale or long-lived trends can reverse quickly and sharply.
2. Plot your exit strategy in advance.
3. Use stop losses to maintain trading discipline.
4. Remember that being long on one currency means you’re short another. Avoid complacency that turns a profitable position into a losing one.
5. Try not to add to a losing position. 

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