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Top 5 Ways the Forex Industry Has Earned a Bad Reputation

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Yes, we’re really going to try to start this conversation. No, this is not why you should avoid Forex or consider the scams as a possible client. This is all about the very real dilemmas that tarnish the image of the industry and diminish the activities that take place. The marginalization of Forex has been a problem for brokers trying to promote their services and a stigma has been applied to traders as well. Who bears the brunt of the responsibility for the downward spiral of the industry? Hint, hint: It’s everybody involved.

5. Brokers Pushing for Deposits in Any Fashion

Yes, the economy is in bad shape and businesses will go the extra mile to make sure money is in their coffers. Does it excuse ridiculously low minimum deposits? Does it excuse sales calls after a few days of using a demo? Does it excuse reckless cash back and leverage propositions?

If it seems like the Forex industry has taken a few tips from the casino gaming industry you are likely rather observant. Casinos and poker sites use rakeback bonuses, comps, and VIP Points to generate loyalty and they use deposit bonuses to get you in the door. Forex firms acting like casinos tarnishes the reputation of the industry and the trades that are taking place. The poor actions of the brokers make the action that takes place on the world’s most liquid and active market look insignificant and silly.

Deposits at ridiculously low levels is also a problem, $1 deposits are silly. Then again, any broker taking deposits under $250 should really leaving you scratching your head. Forex is not a trip to the horse track, racino, slot machines, nor is it the lottery! People should trade an amount that they feel comfortable trading, but would take the trading action seriously.

By acting like casinos, brokers are diminishing the credibility of the foreign exchange market.

4. Signal Pushers Running Wild

The snake oil salespeople of the Forex industry are ready to serve up to you their holy grail developed by “brilliant” minds that have tested trends over the past 15 years that will guarantee you a % profit or winning percentage above a certain point. This is just plain silly, there are no guarantees in the marketplace. Even fixed income securities have to be rated for assurance of being paid back on company/sovereign/municipality debt.

The websites for most of the signal pushers are scummy and they spam the heck out of forums and Twitter. They prey on those that are losing money so that they can buy their services. If their signals were so good, they wouldn’t need to distribute them to the public for all to use at a price.

If anybody had a signal software that worked 80% of the time and locked in 20% gains, would they really go about making the effort of distributing it at a price? No, the user would trade based on this information and do so at leverage levels they felt comfortable and not share this valuable information. They would become wealthy in short period of time and the world would not know of the signal software. Is the signal software as good as the algorithmic trading software developed for banks and hedge funds by quants? Likely far from it. Yes, banks do lose money on trades even with high frequency trading.

There’s no magic elixir, sorry.

3. The current form of demo trading

Do you have $100,000 to throw into trading Forex? Okay, do you have $50,000? Alright, what about $25,000? Well, the Forex brokerages out there – believe you do! Or so it seems… Could it be that these ridiculous demo amounts are put in place to create unrealistic expectations into traders heads so as to get them to trade in a real environment thinking that they can reach such high levels themselves?

Or… Perhaps the brokers think that by offering something up that is so unrealistic that their demo is just for those that are simply interested in learning and experiencing the trading software? Maybe the only realistic brokerage experience that they can provide comes at a cost and it is designed that way.

The other explanation is maybe they do not have many good ideas to drive in and retain clientele.

2. Forex Scams

The unfortunate thing about Forex is that bucket shops, scam artists, boiler rooms, and brokers that trade against their clientele is far more common than you think. These companies and individuals that run these companies are driving the industry into a ditch. Regulations are on the rise and startup firms with alternative visions have to raise huge amounts of capital just to compete in certain markets where driving in clientele is uncertain itself.

Forex scams make the industry seem shady and unseemly, when in reality it is an alternative trading market for those that do not wish to track 5,000 different companies. It is a lot like Las Vegas during the 1950s and it tarnishes all involved. It hurts with outreach to new clientele because they have probably heard a horror story about how someone lost a lot of money or their identity to a Forex scam artist.

Those that run these sketchy operations that are out to rip off or hurt their clientele should close down and give clients their money back.

1. The traders themselves

From pie-in-the-sky dreams of getting rich quick because of exorbitant leverage to not taking the time to choose brokers properly to not being prepared for live trading in the first place. The traders themselves give the industry a bad name because they fail at an outstanding clip of 65.01% (2nd Quarter 2013 in the United States).

The scare tactic used by many is that 95% of traders lose their money, but the facts actually do not support that. The so-called smart traders keep parroting this nonsense as if it was the gospel truth, but the reality is that it is a lie. More traders succeed than what it is spoken about on message boards, forums, and in seminars. 65% failure rate is the average, you’ll see failure rates range from 54% to 78% depending upon the broker. Not so shockingly, brokers that attract users with ridiculously low deposits have higher rates of unprofitability.

The problem is that most traders are completely uninformed and when they communicate with each other and prospective traders they give bad information. This is harmful to the industry.

Continuing to perpetuate the problems that plague the industry will eventually end retail currency trading in most of the world and that would be a shame.

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What is This New Backside Illumination on the New iPhone?

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Recently Apple announced the new iPhone and a number of the hardware changes were targeted at the camera. Thanks to the infamous lost iPhone fiasco we expected the 5 mega-pixel camera and flash, but Jobs announced the camera had backside illumination. That left us puzzled so we did a some research on camera chips.

What is backside illumination?

First stop giggling… OK… I’ll admit I think they could have found a better name. Some of the jokes I saw on Twitter seemed to be especially crude about this feature. Backside illumination is a trick of getting better digital photos by getting more of the available light to where it is measured.

First an overview on digital cameras

The key part of all digital cameras is a chip called the CCD (charge coupled device) which senses the light falling on its surface. The light affects the charge a grid of millions of tiny capacitors created on the silicon when the chip is made (making chips is called fabrication and involves a lot of etching and depositing of thin layers and different materials in precisely controlled ways). For simplicity just think about black and white CCD’s where the array of capacitors corresponds to the array of pixels which make up a digital image (color sometimes uses a lot more tricks). The chip has additional circuitry that measures the charge of all of the capacitors which is basically how the light levels of the image are read. To be able to read all of these capacitors there are minutely thin wires running over the top. They’re not actually wires but a thin layer of aluminum or copper that is effectively sprayed on to the chip and then carefully eaten away using acids to leave connecting traces, which are pretty much metal wires bonded to the chip.

Why backside illumination?

All those wires and other parts of the capacitors sit on top of a square silicon tile (called the die) with the capacitors at the bottom. The circuitry and wires don’t obstruct it too much as it works but it does block some light and scatter some in to surrounding capacitors which reduces the quality of image captured especially with limited lighting. Back to that square silicon tile. Silicon is the main ingredient of regular glass (aka silicon dioxide) but the stuff used in making chips is a super pure silicon crystal and transparent. With backside illumination the issues with traditional CCD’s of the capacitors being on the bottom is quite literally turned upside down and now you shine the image on what was the bottom of the silicon tile and let the light shine through the silicon to the capacitors. This way you avoid all the wires and get more light to the capacitors.

With this new camera chip Apple has shown some beautiful looking pictures but they key performance area will be low lighting. Capturing scenes like the last light of a fading sunset. The earlier iPhones (Original and 3G) had very basic fixed focus 2 mega-pixel cameras which struggled in low lighting. The 3GS brought auto focus and auto white balance that improved performance but still struggled with such scenes, often distorting colors. Now with the new camera chip the iPhone should take vastly improved photos, coupled with the in-built flash to handle low lighting indoors.

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WOW Golden Pearl Farming – Fast Way to Make Gold on WOW

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Using the Auction House for making gold on WOW is the fastest way to make it on WOW. But what do you do if you need some fast way to make gold on WOW to begin with?

Many players are trying to farm gold as a fast way to make it on WOW – but that is not the best way, it is not even a good way for making gold on WOW at most cases.

Farming is only good at high level and even then it is not the best way!

This is true especially because when you level up you can make more gold at less time – so you will want to start by leveling up as fast as possible before you start farming in the first place.

But there is an exception to that rule – WOW Golden Pearl Farming!

WOW Golden Pearl Farming is good as they can be sold for a lot of gold at the WOW Auction House most of the time.

There are times that Golden Pearl are sold for 4g-5g, but more often than none you can sell them on the WOW Auction House for a very high prices – that is 80g-100g and even up to 200g per pearl!

This means that if you can get 4-6 Golden Pearls an hour from farming you can make between 500g to 1000g per hour, and you can start farming for Golden Pearl from as low level as 40 while leveling in the same time, or go pearl farming as a fast way to make gold on WOW at a low level as 50.

The secret is not to farm for the pearls themselves but to farm for specific clams that drop them as well as buy them from the WOW Auction House itself.

You see there is a secret for farming those pearls, and you will be amazed how simple it is to get them.

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WoW Best Gold Farming Spots in Wotlk – Wrath of the Lich King

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There is a great need for any player who wishes to survive in the recent expansion to the World of Warcraft (WoW), the Wrath of the Lich King (WotLK). Just like in the real world, living in WoW has become more expensive as new garb and weapons are becoming pricier. Even relaxing at a pub in Dalaran could be worth some amount of gold. This has spurred the emergence of not a few WoW gold guide articles that aim to help the WotLK gamer in farming for gold in Northrend. Most of these articles would tell you where to go to farm WoW gold and the fastest way to make gold in WoW. Even the best WoW gold making guide contains almost the same tips and techniques that you’ll find in these WoW farming for gold articles.

Here are some WoW money making tips that are constantly referred to in these WoW farming guides:

1. Get the right gathering profession. Having the right profession will allow you to be able to build on the right skills to make gold. The best professions are those that are easy to level up and easy to earn gold in. Some of these professions include:

o Mining: Your ores can fetch you lots of gold. If you max your gathering skill level into grand master level, you will be able to mine most ores. You can go to the Burning Steppes and the Un’goro for Mithil and Thorium or the Netherstorm, Terokkar, and Nagrand for Adamantite ore.

o Herbalism: You can find a lot of herbs to sell for gold in the different zones of WoW. You can find some Mana Thistle in the Outlands or some Nightmare Vine drops when you go to Shadowmoon Valley. Other herbs that you can find are Fel Lotus, Ancient Lichen and the Netherbloom.

o Skinning: There is a huge amount of gold that can be made with selling rare leather like those made from cobra scales and wind scales. These can be found at the Shadowmoon Valley, nagrand, and the Blade’s Edge Mountains. You can even be crafty enough to make these into armors and other more useful items to make it worth more gold.

2. Max your crafting profession: Just like your gathering profession, you need to make sure that your crafting profession level is way up before you enter the WotLK. These professions include alchemy, jewelcrafting, and leatherworking. As you would note, these skills can be combined with your gathering professions to be able to increase the gold values of your gathered items.

3. Trade your goods: Watch the auction house. You can make more gold in finding out which ones are selling for less amounts of gold but with potential of selling for higher amounts of gold at a later time. Follow the basic rules of trading which is to buy low and sell high. Watch for things selling at a bargain that could possibly fetch a higher price later on because of an increase in demand.

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