When Does the Forex Market Open and Close?

wallstreetbets

Like 4chan found a Bloomberg Terminal
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WallStreetBets

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TreeTrimmingGroup

TreeTrimmingGroup
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H1 Backtest of ParallaxFX's BBStoch system

Disclaimer: None of this is financial advice. I have no idea what I'm doing. Please do your own research or you will certainly lose money. I'm not a statistician, data scientist, well-seasoned trader, or anything else that would qualify me to make statements such as the below with any weight behind them. Take them for the incoherent ramblings that they are.
TL;DR at the bottom for those not interested in the details.
This is a bit of a novel, sorry about that. It was mostly for getting my own thoughts organized, but if even one person reads the whole thing I will feel incredibly accomplished.

Background

For those of you not familiar, please see the various threads on this trading system here. I can't take credit for this system, all glory goes to ParallaxFX!
I wanted to see how effective this system was at H1 for a couple of reasons: 1) My current broker is TD Ameritrade - their Forex minimum is a mini lot, and I don't feel comfortable enough yet with the risk to trade mini lots on the higher timeframes(i.e. wider pip swings) that ParallaxFX's system uses, so I wanted to see if I could scale it down. 2) I'm fairly impatient, so I don't like to wait days and days with my capital tied up just to see if a trade is going to win or lose.
This does mean it requires more active attention since you are checking for setups once an hour instead of once a day or every 4-6 hours, but the upside is that you trade more often this way so you end up winning or losing faster and moving onto the next trade. Spread does eat more of the trade this way, but I'll cover this in my data below - it ends up not being a problem.
I looked at data from 6/11 to 7/3 on all pairs with a reasonable spread(pairs listed at bottom above the TL;DR). So this represents about 3-4 weeks' worth of trading. I used mark(mid) price charts. Spreadsheet link is below for anyone that's interested.

System Details

I'm pretty much using ParallaxFX's system textbook, but since there are a few options in his writeups, I'll include all the discretionary points here:

And now for the fun. Results!

As you can see, a higher target ended up with higher profit despite a much lower winrate. This is partially just how things work out with profit targets in general, but there's an additional point to consider in our case: the spread. Since we are trading on a lower timeframe, there is less overall price movement and thus the spread takes up a much larger percentage of the trade than it would if you were trading H4, Daily or Weekly charts. You can see exactly how much it accounts for each trade in my spreadsheet if you're interested. TDA does not have the best spreads, so you could probably improve these results with another broker.
EDIT: I grabbed typical spreads from other brokers, and turns out while TDA is pretty competitive on majors, their minors/crosses are awful! IG beats them by 20-40% and Oanda beats them 30-60%! Using IG spreads for calculations increased profits considerably (another 5% on top) and Oanda spreads increased profits massively (another 15%!). Definitely going to be considering another broker than TDA for this strategy. Plus that'll allow me to trade micro-lots, so I can be more granular(and thus accurate) with my position sizing and compounding.

A Note on Spread

As you can see in the data, there were scenarios where the spread was 80% of the overall size of the trade(the size of the confirmation candle that you draw your fibonacci retracements over), which would obviously cut heavily into your profits.
Removing any trades where the spread is more than 50% of the trade width improved profits slightly without removing many trades, but this is almost certainly just coincidence on a small sample size. Going below 40% and even down to 30% starts to cut out a lot of trades for the less-common pairs, but doesn't actually change overall profits at all(~1% either way).
However, digging all the way down to 25% starts to really make some movement. Profit at the -161.8% TP level jumps up to 37.94% if you filter out anything with a spread that is more than 25% of the trade width! And this even keeps the sample size fairly large at 187 total trades.
You can get your profits all the way up to 48.43% at the -161.8% TP level if you filter all the way down to only trades where spread is less than 15% of the trade width, however your sample size gets much smaller at that point(108 trades) so I'm not sure I would trust that as being accurate in the long term.
Overall based on this data, I'm going to only take trades where the spread is less than 25% of the trade width. This may bias my trades more towards the majors, which would mean a lot more correlated trades as well(more on correlation below), but I think it is a reasonable precaution regardless.

Time of Day

Time of day had an interesting effect on trades. In a totally predictable fashion, a vast majority of setups occurred during the London and New York sessions: 5am-12pm Eastern. However, there was one outlier where there were many setups on the 11PM bar - and the winrate was about the same as the big hours in the London session. No idea why this hour in particular - anyone have any insight? That's smack in the middle of the Tokyo/Sydney overlap, not at the open or close of either.
On many of the hour slices I have a feeling I'm just dealing with small number statistics here since I didn't have a lot of data when breaking it down by individual hours. But here it is anyway - for all TP levels, these three things showed up(all in Eastern time):
I don't have any reason to think these timeframes would maintain this behavior over the long term. They're almost certainly meaningless. EDIT: When you de-dup highly correlated trades, the number of trades in these timeframes really drops, so from this data there is no reason to think these timeframes would be any different than any others in terms of winrate.
That being said, these time frames work out for me pretty well because I typically sleep 12am-7am Eastern time. So I automatically avoid the 5am-6am timeframe, and I'm awake for the majority of this system's setups.

Moving stops up to breakeven

This section goes against everything I know and have ever heard about trade management. Please someone find something wrong with my data. I'd love for someone to check my formulas, but I realize that's a pretty insane time commitment to ask of a bunch of strangers.
Anyways. What I found was that for these trades moving stops up...basically at all...actually reduced the overall profitability.
One of the data points I collected while charting was where the price retraced back to after hitting a certain milestone. i.e. once the price hit the -61.8% profit level, how far back did it retrace before hitting the -100% profit level(if at all)? And same goes for the -100% profit level - how far back did it retrace before hitting the -161.8% profit level(if at all)?
Well, some complex excel formulas later and here's what the results appear to be. Emphasis on appears because I honestly don't believe it. I must have done something wrong here, but I've gone over it a hundred times and I can't find anything out of place.
Now, you might think exactly what I did when looking at these numbers: oof, the spread killed us there right? Because even when you move your SL to 0%, you still end up paying the spread, so it's not truly "breakeven". And because we are trading on a lower timeframe, the spread can be pretty hefty right?
Well even when I manually modified the data so that the spread wasn't subtracted(i.e. "Breakeven" was truly +/- 0), things don't look a whole lot better, and still way worse than the passive trade management method of leaving your stops in place and letting it run. And that isn't even a realistic scenario because to adjust out the spread you'd have to move your stoploss inside the candle edge by at least the spread amount, meaning it would almost certainly be triggered more often than in the data I collected(which was purely based on the fib levels and mark price). Regardless, here are the numbers for that scenario:
From a literal standpoint, what I see behind this behavior is that 44 of the 69 breakeven trades(65%!) ended up being profitable to -100% after retracing deeply(but not to the original SL level), which greatly helped offset the purely losing trades better than the partial profit taken at -61.8%. And 36 went all the way back to -161.8% after a deep retracement without hitting the original SL. Anyone have any insight into this? Is this a problem with just not enough data? It seems like enough trades that a pattern should emerge, but again I'm no expert.
I also briefly looked at moving stops to other lower levels (78.6%, 61.8%, 50%, 38.2%, 23.6%), but that didn't improve things any. No hard data to share as I only took a quick look - and I still might have done something wrong overall.
The data is there to infer other strategies if anyone would like to dig in deep(more explanation on the spreadsheet below). I didn't do other combinations because the formulas got pretty complicated and I had already answered all the questions I was looking to answer.

2-Candle vs Confirmation Candle Stops

Another interesting point is that the original system has the SL level(for stop entries) just at the outer edge of the 2-candle pattern that makes up the system. Out of pure laziness, I set up my stops just based on the confirmation candle. And as it turns out, that is much a much better way to go about it.
Of the 60 purely losing trades, only 9 of them(15%) would go on to be winners with stops on the 2-candle formation. Certainly not enough to justify the extra loss and/or reduced profits you are exposing yourself to in every single other trade by setting a wider SL.
Oddly, in every single scenario where the wider stop did save the trade, it ended up going all the way to the -161.8% profit level. Still, not nearly worth it.

Correlated Trades

As I've said many times now, I'm really not qualified to be doing an analysis like this. This section in particular.
Looking at shared currency among the pairs traded, 74 of the trades are correlated. Quite a large group, but it makes sense considering the sort of moves we're looking for with this system.
This means you are opening yourself up to more risk if you were to trade on every signal since you are technically trading with the same underlying sentiment on each different pair. For example, GBP/USD and AUD/USD moving together almost certainly means it's due to USD moving both pairs, rather than GBP and AUD both moving the same size and direction coincidentally at the same time. So if you were to trade both signals, you would very likely win or lose both trades - meaning you are actually risking double what you'd normally risk(unless you halve both positions which can be a good option, and is discussed in ParallaxFX's posts and in various other places that go over pair correlation. I won't go into detail about those strategies here).
Interestingly though, 17 of those apparently correlated trades ended up with different wins/losses.
Also, looking only at trades that were correlated, winrate is 83%/70%/55% (for the three TP levels).
Does this give some indication that the same signal on multiple pairs means the signal is stronger? That there's some strong underlying sentiment driving it? Or is it just a matter of too small a sample size? The winrate isn't really much higher than the overall winrates, so that makes me doubt it is statistically significant.
One more funny tidbit: EUCAD netted the lowest overall winrate: 30% to even the -61.8% TP level on 10 trades. Seems like that is just a coincidence and not enough data, but dang that's a sucky losing streak.
EDIT: WOW I spent some time removing correlated trades manually and it changed the results quite a bit. Some thoughts on this below the results. These numbers also include the other "What I will trade" filters. I added a new worksheet to my data to show what I ended up picking.
To do this, I removed correlated trades - typically by choosing those whose spread had a lower % of the trade width since that's objective and something I can see ahead of time. Obviously I'd like to only keep the winning trades, but I won't know that during the trade. This did reduce the overall sample size down to a level that I wouldn't otherwise consider to be big enough, but since the results are generally consistent with the overall dataset, I'm not going to worry about it too much.
I may also use more discretionary methods(support/resistance, quality of indecision/confirmation candles, news/sentiment for the pairs involved, etc) to filter out correlated trades in the future. But as I've said before I'm going for a pretty mechanical system.
This brought the 3 TP levels and even the breakeven strategies much closer together in overall profit. It muted the profit from the high R:R strategies and boosted the profit from the low R:R strategies. This tells me pair correlation was skewing my data quite a bit, so I'm glad I dug in a little deeper. Fortunately my original conclusion to use the -161.8 TP level with static stops is still the winner by a good bit, so it doesn't end up changing my actions.
There were a few times where MANY (6-8) correlated pairs all came up at the same time, so it'd be a crapshoot to an extent. And the data showed this - often then won/lost together, but sometimes they did not. As an arbitrary rule, the more correlations, the more trades I did end up taking(and thus risking). For example if there were 3-5 correlations, I might take the 2 "best" trades given my criteria above. 5+ setups and I might take the best 3 trades, even if the pairs are somewhat correlated.
I have no true data to back this up, but to illustrate using one example: if AUD/JPY, AUD/USD, CAD/JPY, USD/CAD all set up at the same time (as they did, along with a few other pairs on 6/19/20 9:00 AM), can you really say that those are all the same underlying movement? There are correlations between the different correlations, and trying to filter for that seems rough. Although maybe this is a known thing, I'm still pretty green to Forex - someone please enlighten me if so! I might have to look into this more statistically, but it would be pretty complex to analyze quantitatively, so for now I'm going with my gut and just taking a few of the "best" trades out of the handful.
Overall, I'm really glad I went further on this. The boosting of the B/E strategies makes me trust my calculations on those more since they aren't so far from the passive management like they were with the raw data, and that really had me wondering what I did wrong.

What I will trade

Putting all this together, I am going to attempt to trade the following(demo for a bit to make sure I have the hang of it, then for keeps):
Looking at the data for these rules, test results are:
I'll be sure to let everyone know how it goes!

Other Technical Details

Raw Data

Here's the spreadsheet for anyone that'd like it. (EDIT: Updated some of the setups from the last few days that have fully played out now. I also noticed a few typos, but nothing major that would change the overall outcomes. Regardless, I am currently reviewing every trade to ensure they are accurate.UPDATE: Finally all done. Very few corrections, no change to results.)
I have some explanatory notes below to help everyone else understand the spiraled labyrinth of a mind that put the spreadsheet together.

Insanely detailed spreadsheet notes

For you real nerds out there. Here's an explanation of what each column means:

Pairs

  1. AUD/CAD
  2. AUD/CHF
  3. AUD/JPY
  4. AUD/NZD
  5. AUD/USD
  6. CAD/CHF
  7. CAD/JPY
  8. CHF/JPY
  9. EUAUD
  10. EUCAD
  11. EUCHF
  12. EUGBP
  13. EUJPY
  14. EUNZD
  15. EUUSD
  16. GBP/AUD
  17. GBP/CAD
  18. GBP/CHF
  19. GBP/JPY
  20. GBP/NZD
  21. GBP/USD
  22. NZD/CAD
  23. NZD/CHF
  24. NZD/JPY
  25. NZD/USD
  26. USD/CAD
  27. USD/CHF
  28. USD/JPY

TL;DR

Based on the reasonable rules I discovered in this backtest:

Demo Trading Results

Since this post, I started demo trading this system assuming a 5k capital base and risking ~1% per trade. I've added the details to my spreadsheet for anyone interested. The results are pretty similar to the backtest when you consider real-life conditions/timing are a bit different. I missed some trades due to life(work, out of the house, etc), so that brought my total # of trades and thus overall profit down, but the winrate is nearly identical. I also closed a few trades early due to various reasons(not liking the price action, seeing support/resistance emerge, etc).
A quick note is that TD's paper trade system fills at the mid price for both stop and limit orders, so I had to subtract the spread from the raw trade values to get the true profit/loss amount for each trade.
I'm heading out of town next week, then after that it'll be time to take this sucker live!

Live Trading Results

I started live-trading this system on 8/10, and almost immediately had a string of losses much longer than either my backtest or demo period. Murphy's law huh? Anyways, that has me spooked so I'm doing a longer backtest before I start risking more real money. It's going to take me a little while due to the volume of trades, but I'll likely make a new post once I feel comfortable with that and start live trading again.
submitted by ForexBorex to Forex [link] [comments]

MT5 international foreign exchange trading platform, recently the foreign exchange gold market is also on the rise

What is the foreign exchange market?Foreign exchange market (FOREx market) refers to the place or network where foreign exchange transactions take place.Mainly between local currency and foreign currency, foreign exchange transactions between different currencies.The foreign exchange market can be divided into two parts, namely the inter-bank foreign exchange market and the retail foreign exchange market.Interbank foreign exchange market can also be acquired as an inter-bank wholesale foreign exchange market, which is the uppermost market in foreign exchange transactions and the market for foreign exchange transactions among Banks, forming a relatively centralized foreign exchange market.In the interbank market, there is no such thing as margin trading.Retail forex market refers to the market between forex trading institutions and their clients. The most basic class in this market is individual traders, characterized by wide and dispersed distribution.
The modern international foreign exchange market is generally distributed in major cities in the world, such as London, New York, Paris, Vertical, Zurich, Wellington, Tokyo, Singapore, Hong Kong and other world-famous financial centers and foreign exchange centers. The interconnections and influence of these centers form a foreign exchange network covering the whole world.Due to time zones and time differences, such a horizontal global market is almost always open and close one after another, forming a circular 24-hour foreign exchange market.In the global market, the UK, the US, Singapore, Hong Kong and Japan accounted for 77% of the global forex trading volume.At present, China's foreign exchange market is a market system centered on the inter-bank market.
In the foreign exchange market, the exchange rate fluctuation refers to the exchange rate of changing currencies. The change in exchange rate is the decrease in the value of one currency and the increase in the value of another currency.A currency does not become a waste of paper, or even a dwindling currency, but it will always represent a certain value, unless the abolition of the currency is declared.You've had negative interest rates, you've had a plunge in stocks, you've had zero futures, you've had real estate, you've had a question mark as an investment hedge, and in many cases rents may not be worth the mortgage index.For domestic investors, the currency market is the most "clean" speculative market with little risk but great opportunity.
Investors need not bother in the performance of each stock, futures long-short don't have to worry about both sides of the insider trading, daily turnover of huge, make any also does not have the dealer's courage, soros, buffett can learn about the information, as well as ordinary investors can learn, global investors and speculators are in the same time looking at the same price and graphics, several thousands of marketmakers network trading platform and the world millions of investors and speculators have together.
submitted by kelly19981001 to investing [link] [comments]

How is Good Academic Records Important?

How I flipped around the conventional model to recover from my school past failures…
Imagine my story as if it was you and what you would have done…

When I was at school, specially from 11 years old to 18, I always hated doing homework. I was very alert and conscious that I am probably living the best years of my life and I didn’t want to pass my time, precious young time, to fulfil my homework duty. Yes! Because I have seen it more like a job not being paid and always told to myself, if it was for me, I would do it, but it is more a society thing, for the parents, the teacher or other people that I didn’t care of. What I wanted to do was only enjoying my young life moments.

The result of that was terrible as I had very bad scores and was almost always close to do a second year. I managed (And I still don’t understand how?!) to get my middle school certification and succeed at the exam. Maybe because I had some interests in science. This strategy had definitely found its limits there since it didn’t work in high school where I followed the scientific path but failed twice (two years in a row) on exit exams.
Why?
· The right mindset wasn’t there.
· The cons of freedom (LoL) gave me the opportunity to do what I wanted
· No real structure at school to face or identify those issues and address them appropriately.

Then went to the army for a year and decided thereafter to go in the job market. My strategy was just to find a job, then evolve in the company. But it wasn’t that easy. I followed an internal training at Disney to become a leader. I gathered most of my experience there, and it is still serving me now. It is one of the best schools of management I ever been to. I would definitely suggest you to start there. The issue was the income, I was performing so well that I was earning the same as my supervisor and wouldn’t get any pay rise in the next 5 years.
Lesson:
· If there is no scope for the next 5 years for you, just move on! X, Z, Millennial … It doesn’t matter, that how it goes today, people don’t want to be hire and stay at the same position until retirement. People evolve or have self-promotions by getting a new job with higher responsibility.

I then decided to sell apartments. It was my first experience has a business director, I was 25 years old and after I one year I wind up the company I have created. It was so tough, so dirty market, the competition was using colluding technics to keep their monopole, this with the sectors notary practices. Anyway…
Lesson:
· Save, save, save money before starting any business because licenses, taxes, insurances, transport, coffees with clients…etc… starts to be a lot when you are not making sales. And, it is not easy to make a sale.
· Get a mentor, learn as much as you can, do some internship and ask a lot of questions to prepare your plan for the future company that you want to create.
· Know your gapes and train yourself or with a professional help to tackle your.
Let me explain why the title is about “Good Academic Records”

I was so bad at languages, I learned Spanish and English for 7 or 8 years. But if you have red the beginning you will understand that I wasn’t also good at it because of my attitude towards school.
I decided to go the Netherland where I found a job opportunity in Amsterdam. After 6 months, I was able to market, write reports, do some accounts payables and support, All in English!

I then went in Spain, one week in Cordoba and another in Barcelona, I stayed with Spanish families who brought my Spanish level to the perfect fluency (some extra trips at Lloret del Mar also. But it’s been a while I didn’t use Spanish; I might need 1 or 2 weeks to regain my level).


Lastly but not the least, I went for a year in Japan and learned Japanese as well, working in English, socialising in Japanese after work. I was working in the Forex market and then I worked for Abercrombie&Fitch helping them to open their first ever store in Japan (Tokyo, Ginza Store).

Then everything changes and started to become interesting…
A friend of mine told me a story about his uncle who wasn’t very good at school and everyone was laughing at him. He arrived to the age of around 35 years old and didn’t say anything to no one and starts studying. He surprised his all family after 7 or 8 years when they knew that he became a doctor. Now he is making more money than anyone else. This story, I didn’t believe it and tested my friend several times in different moment of life and different time. I understood that it is true. I kept it on my mind.
We were unemployed on that time and struggling:
My friend: I have an uncle he is a doctor in the South of France.
Me: Oh! Cool, but why are you talking about him now?
My friend: He’s been a very bad student and stayed unemployed for a while.
Me: Hahahaha, ok! you telling me that because of our situation. Hahahaha
My friend: Everyone was making fun of him, but in his back and he could guess it.
Me: I hate people talking in the back of others.
My friend: But you know what? One day he decided to go to the medicine faculty and secretly started studying. (in France you can study for free or almost).
Me: I can guess what you are going to say, but I don’t believe you hahaha
My friend: NOOoo! I swear! listen! After 8 years struggling, he became a doctor in his mid-40s and now he is super rich. And he is proud and humble.
Me: Popopopo! What a story! It is impossible!
My friend: No, it is possible, I witnessed it. It proves that we can make it…

The power is on your hands story! Game changing for me…
Big meeting with myself to reorganize everything! Same as in the picture below!..or almost (LoL)

In 2013, at 31, I didn’t tell anyone around me and decided to jump into a plane, booked my hotel while flying and went one year in Australia and have seen how the environment was. I never felt like this before. It was just the perfect environment for me to restart everything.
In 2014, I started a Diploma of Management learned many things, but more than everything, it was my first return to the model I hated when I was kid, but this time, it was for myself and to validate all the things I have learned in my working journey around the globe. One year after, in 2015, I graduated with high distinctions.
In 2016, I decide to keep going, I started a Bachelor of Business Accounting. It was even more exiting for me and a big challenge. I managed to finish it in 2 years and half, in 2018. I was first in my promo and had a GPA of 4.6, got the Academic Excellence Award.
Now in 2019, I have created my own business and I am learning, learning and learning! More and more! Always! I learn by doing. It is a test to see how good I will be this time in my business venture compare to the time when I failed in my real estate adventure for example.
Good Academic Records! That was the title! The lesson is to not just give up because we all have different journey in this life. Good academic records are not crucial but can build confidence!
· It is more delicious to enjoy your achievement when it is for the pleasure of learning.
· Good Academic Records didn’t help my friends in general to get a better job but having a good network, Yes!
· If you want to become a doctor you better study while you are still young because the story of my friend’s uncle is super pretty rare and it is time consuming study.
· Nowadays, more and more companies are focusing on work experience rather than academic achievements. The sector of IT is the best example of it.
· Sometimes you don’t achieve anything but some people around you do. Talk about them around you, you might influence the life decisions of your friends in a good way giving them hope and pushing them to do differently and be inspired by your story.
Today I am trying something new that I always wanted to do, open my own store, I don’t think that it requires good academic records to do so as numerous examples proved that timing in life is more important than anything. I just studied at the right moment and had the chance to experience a lot.
What about you? What was your path? Are you also wanting to get out of the conventional road and take risks?
(I asked the question not in Reddit but didn't get anwer yet)
submitted by FunOnlineWorld to NoStupidQuestions [link] [comments]

What Is Forex?

What Is Forex?

A New Era

Although it might seem easy to invest in Forex nowadays, by just logging into an account with a broker, deposit some money and start actively trading; it has not always been like this, as forex industry has rapidly changed in the past three decades.
Before technology and free-floating currencies took over the industry, world currency exchanges were operating under the Bretton Woods System of Money Management. This agreement established rules for commercial and financial relations among top economies, tying their currencies to gold. Hence, a currency note issued by any world government represented a real amount of gold held in a vault by that nation. When in July 1944 delegates from all over the world sign off the pact, the main goal was to reduce lack of cooperation between countries and therefore avoiding currency wars. This process of regulating the foreign exchange brought to the foundation of the international money fund (IMF) and the International Bank of Reconstruction and Development (IBRD), today part of World bank Group.
However, in the early 70s the real-world economics outpaced the system, dollar suffered from severe inflation cutting its value by half. At that time unemployment rate was 6.1% and inflation 5.84%. Finally, in August 1971, U.S. government led by Richard Nixon took away gold standard, creating the first fiat currency and replacing Bretton Woods System with De Facto. Together with this there were other important measures taken by the USA president to combat that high inflation regime:
  1. This decision was driven by many European nations asking to redeem their dollars for gold, till leaving Bretton Woods System. This had an enormous impact on USD which plunged against European currencies. Consequently, USA congress release a report suggesting USD devaluation to protect the currency from foreign gougers. However, dollar dropped again, and Treasury Secretary was directed to suspend the USD convertibility with gold; hence foreign governments could no longer exchange their USD with gold.
  2. The inflation level was skyrocketing and one more action taken by Nixon was to freeze all wages and prices for 90 days, this was the first time since WWII.
  3. Import surcharge of 10% was set up to safeguard American products ensuring no disadvantage in trades.
Today, USD dominates financial markets, accounting together with the EURO, for approximately 50% of all currency exchange transactions in the world.
1971 represents the beginning of a new forex trading era, bringing this market to be the largest and most liquid in the world, with an average of daily trading volume exceeding $5trn. All the world’s combined stock markets don t even come close to this, what does this mean to you?
In an environment which is controlled by free-floating currencies moving constantly, following principles of supply and demand, there are constant and exciting trading opportunities, unavailable when investing in different markets.
In this article are shared main features of what is forex trading today and how can be an incredible new source of income for everyone who is into financial markets.

What Is Forex?

Forex is the acronym for foreign exchange which intends to be a decentralized or over the counter (OTC) marketplace, where currencies from all over the world are traded 24 hours, five days a week. Main financial centres include New York, Chicago, London, Tokyo and Frankfurt for Eurozone. It is by far the largest market in the world in terms of volume, followed by the credit market. Being highly liquid is an important feature that allows traders to be able to enter and exit their positions very quickly. Nevertheless, while trading forex, an investor should be aware of several components:
Dynamicity – forex is an extremely fast environment, this means that currency rates can move very fast, influenced by price action signals and fundamental factors. Therefore, going into forex trading, one needs to be aware of adopting serious risk and money management strategies in order to be effective, limiting losses.
Zero Sum Game – trading forex is not like investing in the stock market but is known to be a zero-sum game. For example, going into the equity market buying some tech shares, they could both rise or decrease in value. In forex is different because currencies work in pairs; for instance, an investor decides Euro will go up he or she is doing it against another currency. Thus, in this specific marketplace one currency will rise while the other will fall, meaning an investor is buying the currency hoping it will appreciate to the other, or selling the one that will depreciate.
See image below:
Figure 1: Main traded currency pairs
https://preview.redd.it/vu77ziuoyle31.png?width=574&format=png&auto=webp&s=9b1693bf27508fcb142705c309de1fc5b3e8fa19
Currency pairs are composed by a base and a price currency. Main forex trading principle is how much price currency an investor can buy using 1 unit of the base, thus, the base currency, which is the first one in line within the quotation, is always equal to 1.
Because like every financial instrument currency pairs are driven by fundamentals of supply and demand, forex is intensively influenced by geopolitical and macroeconomic factors.
Capital Markets – these are the most visible indicators of a country economic health, where usually the healthier the economy the stronger the currency. For example, a rapid sell-off from a country will show that nation is not economically stable, subsequently investors will think negatively of it depreciating its currency.
Moreover, many countries are sector driven, this means that their currencies are strictly correlated with certain resources. For instance, Canada which is a commodity-based market, CAD is strictly linked to price of Brent and metals, a swing in those will affect the Canadian currency.
Finally, credit market is also connected to forex since also relies heavily on interest rate so, a change in bond yield will have major impact on currency prices. like increase in yield will favour bullish market for USD
International Trade – Trade levels serve as a proxy for relative demand of goods from a nation, a country which goods and services that are in high demand internationally, will experience an appreciation to its currency. This is an effect driven by all other countries converting their currencies into the one of that state to purchase its goods and services. Let’s say a product from USA is in high demand globally, all the other countries must sell their currencies to buy dollars to then see their goods shipped, thus USD will appreciate.
Trade surplus and deficit also indicate a nation competitive standing in international trade. Countries with a large trade deficit are usually importers resulting in more of their currencies being sold to buy goods worldwide, thus they will see their currencies devaluate.
Geopolitics – The political landscape of a nation places a major role in the economic outlook for that country and consequently, the perceived value of its own currency. Beside building up price action strategies, based purely on price levels, forex traders constantly look at economic calendars and news to gauge what could move currencies. A geopolitical event which is having a great impact on GBP, is the election of Boris Johnson as UK prime minister, driving the local currency to 2 years low, yesterday 29th of July 2019. Therefore, when investors observe instability from a nation political environment, there are high chances that the currency of that country will depreciate.

Why Trading Forex

Beside swapping from a gold standard to free-floating, which change the whole forex trading game, technology is another crucial factor that helped this financial sector to spread globally. With the introduction of internet in the 90s forex opened to retail investors giving access to various trading platforms. The introduction of online platforms and retail investments have increased forex market volume by 5%, up to $250bn of its daily turnover. Different traders may have different reasons for selecting forex, however, mostly is because this is a fertile market plenty of daily opportunities to gauge price action and profit from it.

Volatility

How traders profit from trading forex? Basics of trading are rather simple to understand. An investor buys an asset at a certain price hoping to get rid of it for a higher price. The more volatile is the market for that specific financial instrument, the more revenue is possible to make. Therefore, a trader is looking for long up and down moves rather than market fluctuating sideways.
Volatility is great in forex and a trader can expect to regularly see prices oscillating 50-100 pips on major currency pairs almost any day of the week. Yet again, due to this enormous constant fluctuation, potential losses or gains can be very high thus, rigours money management must be applied to avoid major damages and become a profitable trader. To conclude, volatility is the main characteristic investors are looking at and that is why it is one of the main feature traders can take advantage.
See image below:

Figure 2: FDAX Volatility, H4 (30th May 2019, 16:00, 30th July 2019, 16:00)

Accessibility & Technology

While volatility is the most important element out in the market that tell us why forex is the best market to trade, accessibility comes straight after. This market is more accessible than all the others, trading forex requires an online desk position and as little as $100 to start off an account.
In comparison with the other financial markets, forex requires a rather low trading capital. Moreover, trading forex can be easily accessible from your PC, tablet or mobile since most of retail broker firms operate online. Although, accessibility cannot tell the quality of the market by itself, it definitely shows a reason why many investors try their first trading experience on forex.
Also, the rapid introduction of technology since the 90s, made trading much easier. There are every year more advanced online platforms to trade on with many possible updates and that is why trading forex is edging for many global investors.

Forex Players

Before the introduction of free-floating currency and more importantly cutting hedge technology, forex was a market that could have been traded only by institutional investors. Nowadays however, even retail and individual investor can take advantage of the huge volume forex offers every day.
Banks
Interbank market is the major responsible for the high volume registered daily in forex. This is the place where banks exchange currency among each other, facilitating forex transactions for customers and speculate for their trading desks.
  • Clients transactions: in this case banks of all size act as dealer for clients, where the bid-ask spread represents the profit for the institutions.
  • Speculation: currencies are traded to profit from their price fluctuations as well as to increase diversification on their portfolio
Because banking institutions are the biggest players in foreign exchange market, they are able to push up and down the price of currencies giving an extreme advantage and higher volatility to individual traders who are trying to gauge price moves.
Central Banks
Central banks representing their nation’s government, are crucial in forex. They oversee monetary and fiscal policies having massive influence on currency rates. A central bank is responsible for fixing the price level of its native currency on the market, in other words they take care of the regime currencies will float in the open market.
  • Floating: these are the currencies which price floats on the open market based on principles of supply and demand relative to other currencies
  • Pegged (fixed exchange rate): opposite to floating currencies pegged ones are not free-floating in the open market however, their government rather tie them to the value of a stronger foreign currency. Pegged currencies are more seen in developing countries (CYN to USD).
Because central banks manage interest rates in order to increase the competitiveness of their native nation to another.
  • Dovish: these policies will be lowering down interest rates. A central bank which applies dovish conditions aims to give economic stimulus and guard against deflation. Usually a policy intended to give economy stimulus will weakening the currency value.
  • Hawkish: on the other hand, hawkish policies lead to an increase in interest rate. A central bank that uses hawkish measures aims to reduce inflation. Typically, this kind of policies will reinforce the country currency value.
Investment Managers & Hedge Funds
Portfolio managers and hedge funds are the second investors in forex after central and investment banks. They are hired by huge institutions such as pension to manage their assets. However while portfolio managers of pool funds will buy currency to speculate on foreign securities, hedge funds execute speculative trades as part of their strategies.
Corporations
Also international corporation play a big role in forex. Those firms operating globally, buying and selling goods and services are involved in forex transactions daily. Imagine an American company producing pipes that imports Japanese components and sell the finished product to China. After the sale is closed the CYN must be converted back to USD, while the American company must exchange USD into JPY to repay for the components supply.
Moreover, company involved in international trade have an interest in forex in order to hedge the risk associated with currencies fluctuations making several foreign exchange transactions. For instance, the same American company might buy JPY at spot rate, or enter a swap agreement to obtain JPY in advance, overtaking the risk of the Japanese currency to rise in the future. Therefore, forex become crucial to run companies with many subsidiaries and suppliers all over the word.
Individual & Retail Investors
Even though this investor cluster brings to forex a very limited volume compared to financial institutions and corporations, it is rapidly growing in numbers and popularity. These base their trades on a mixture of fundamentals and technical analysis.
Bottom line, main reason why forex is the most traded market in the world is because gives everyone, from top financial institutions to retail and individual trades, opportunities to make returns on capital invested from currencies price fluctuations related to global economy.
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We need crypto currencys...

European Commission - Press release Antitrust: Commission fines Barclays, RBS, Citigroup, JPMorgan and MUFG €1.07 billion for participating in foreign exchange spot trading cartel Brussels, 16 May 2019
In two settlement decisions, the European Commission has fined five banks for taking part in two cartels in the Spot Foreign Exchange market for 11 currencies - Euro, British Pound, Japanese Yen, Swiss Franc, US, Canadian, New Zealand and Australian Dollars, and Danish, Swedish and Norwegian crowns.
The first decision (so-called “Forex - Three Way Banana Split” cartel) imposes a total fine of €811 197 000 on Barclays, The Royal Bank of Scotland (RBS), Citigroup and JPMorgan.
The second decision (so-called “Forex- Essex Express” cartel) imposes a total fine of €257 682 000 on Barclays, RBS and MUFG Bank (formerly Bank of Tokyo-Mitsubishi).
UBS is an addressee of both decisions, but was not fined as it revealed the existence of the cartels to the Commission.
Commissioner Margrethe Vestager, in charge of competition policy said:“Companies and people depend on banks to exchange money to carry out transactions in foreign countries. Foreign exchange spot trading activities are one of the largest markets in the world, worth billions of euros every day. Today we have fined Barclays, The Royal Bank of Scotland, Citigroup, JPMorgan and MUFG Bank and these cartel decisions send a clear message that the Commission will not tolerate collusive behaviour in any sector of the financial markets. The behaviour of these banks undermined the integrity of the sector at the expense of the European economy and consumers”.
Foreign Exchange, or “Forex”, refers to the trading of currencies. When companies exchange large amounts of a certain currency against another, they usually do so through a Forex trader. The main customers of Forex traders include asset managers, pension funds, hedge funds, major companies and other banks.
Forex spot order transactions are meant to be executed on the same day at the prevailing exchange rate. The most liquid and traded currencies worldwide (five of which are used in the European Economic Area) are the Euro, British Pound, Japanese Yen, Swiss Franc, US, Canadian, New Zealand and Australian Dollars, and Danish, Swedish and Norwegian crowns.
The Commission's investigation revealed that some individual traders in charge of Forex spot trading of these currencies on behalf of the relevant banks exchanged sensitive information and trading plans, and occasionally coordinated their trading strategies through various online professional chatrooms.
The commercially sensitive information exchanged in these chatrooms related to:
1) outstanding customers' orders (i.e. the amount that a client wanted to exchange and the specific currencies involved, as well as indications on which client was involved in a transaction),
2) bid-ask spreads (i.e. prices) applicable to specific transactions,
3) their open risk positions (the currency they needed to sell or buy in order to convert their portfolios into their bank's currency), and
4) other details of current or planned trading activities.
The information exchanges, following the tacit understanding reached by the participating traders, enabled them to make informed market decisions on whether to sell or buy the currencies they had in their portfolios and when.
Occasionally, these information exchanges also allowed the traders to identify opportunities for coordination, for example through a practice called “standing down” (whereby some traders would temporarily refrain from trading activity to avoid interfering with another trader within the chatroom).
Most of the traders participating in the chatrooms knew each other on a personal basis - for example, one chatroom was called Essex Express ‘n the Jimmy because all the traders but “James” lived in Essex and met on a train to London. Some of the traders created the chatrooms and then invited one another to join, based on their trading activities and personal affinities, creating closed circles of trust.
The traders, who were direct competitors, typically logged in to multilateral chatrooms on Bloomberg terminals for the whole working day, and had extensive conversations about a variety of subjects, including recurring updates on their trading activities.
The Commission's investigation revealed the existence of two separate infringements concerning foreign exchange spot trading:
The following table details the participation and the duration of each company's involvement in each of the two infringements:
Company
Start
End
Three Way Banana Split / Two and a half men/ Only Marge
UBS
Barclays
RBS
Citigroup
JP Morgan
10/10/2011
18/12/2007
18/12/2007
18/12/2007
26/07/2010
31/01/2013
01/08/2012
19/04/2010
31/01/2013
31/01/2013
Essex Express / Semi Grumpy Old men
UBS
Barclays
RBS
Bank of Tokyo-Mitsubishi (now MUFG Bank)
14/12/2009
14/12/2009
14/09/2010
08/09/2010
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Euro’s bounce slows as focus shifts back to economy, ECB policy

FILE PHOTO: Wads of euro banknotes are stacked in a pile at the Money Service Austria company’s headquarters in Vienna, Austria, March 3, 2016. REUTERS/Leonhard FoegerFebruary 19, 2019
By Shinichi Saoshiro
TOKYO (Reuters) – The dollar held steady against its peers on Tuesday, lacking strong direction as U.S. markets were shut for a holiday the previous day, while the euro’s latest bounce slowed as the focus drifted back to the economy and European Central Bank policy.
The dollar index versus a basket of six major currencies was little changed at 96.784 after ending the previous session flat. The U.S. financial markets were closed on Monday for Presidents’ Day.
The euro was little changed at $1.1312 after edging up 0.16 percent overnight, when it pulled away from a three-month low of $1.1234.
The single currency was buoyed by improved investor sentiment as expectations increased for an easing of the U.S.-China trade conflict after both sides reported progress in talks.
The dollar, the world’s most liquid currency, has tended to perform well during bouts of investor nervousness.
“The euro’s latest bounce was not based a positive incentive specific to the currency and the market will likely return to pricing in the potential negatives. The euro will remain on a shaky footing,” said Masafumi Yamamoto, chief forex strategist at Mizuho Securities.
“There is still some way to go before potential negatives are factored into the euro ahead of the March 7 ECB meeting.”
ECB policymakers will next meet on March 7, when the bank’s staff are expected to slash growth and inflation projections as the euro zone suffers its biggest slowdown in half a decade.
The dollar was a shade lower at 110.59 yen after gaining a modest 0.15 percent overnight.
The Australian dollar was flat at $0.7129 after dipping 0.15 percent the previous day.
The immediate focus was on the minutes from the Reserve Bank of Australia’s (RBA) monetary policy meeting held at the start of the month.
Governor Philip Lowe on Feb. 6 opened the door to a possible rate cut by acknowledging growing economic risks, in a remarkable shift from its long-standing tightening bias that sent the Aussie tumbling.
Source: OANN
from MAGA First News https://magafirstnews.com/oan-newsroom/euros-bounce-slows-as-focus-shifts-back-to-economy-ecb-policy/
via IFTTT
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Euro’s bounce slows as focus shifts back to economy, ECB policy

FILE PHOTO: Wads of euro banknotes are stacked in a pile at the Money Service Austria company’s headquarters in Vienna, Austria, March 3, 2016. REUTERS/Leonhard FoegerFebruary 19, 2019
By Shinichi Saoshiro
TOKYO (Reuters) – The dollar held steady against its peers on Tuesday, lacking strong direction as U.S. markets were shut for a holiday the previous day, while the euro’s latest bounce slowed as the focus drifted back to the economy and European Central Bank policy.
The dollar index versus a basket of six major currencies was little changed at 96.784 after ending the previous session flat. The U.S. financial markets were closed on Monday for Presidents’ Day.
The euro was little changed at $1.1312 after edging up 0.16 percent overnight, when it pulled away from a three-month low of $1.1234.
The single currency was buoyed by improved investor sentiment as expectations increased for an easing of the U.S.-China trade conflict after both sides reported progress in talks.
The dollar, the world’s most liquid currency, has tended to perform well during bouts of investor nervousness.
“The euro’s latest bounce was not based a positive incentive specific to the currency and the market will likely return to pricing in the potential negatives. The euro will remain on a shaky footing,” said Masafumi Yamamoto, chief forex strategist at Mizuho Securities.
“There is still some way to go before potential negatives are factored into the euro ahead of the March 7 ECB meeting.”
ECB policymakers will next meet on March 7, when the bank’s staff are expected to slash growth and inflation projections as the euro zone suffers its biggest slowdown in half a decade.
The dollar was a shade lower at 110.59 yen after gaining a modest 0.15 percent overnight.
The Australian dollar was flat at $0.7129 after dipping 0.15 percent the previous day.
The immediate focus was on the minutes from the Reserve Bank of Australia’s (RBA) monetary policy meeting held at the start of the month.
Governor Philip Lowe on Feb. 6 opened the door to a possible rate cut by acknowledging growing economic risks, in a remarkable shift from its long-standing tightening bias that sent the Aussie tumbling.
Source: OANN
from MAGA First News https://magafirstnews.com/oan-newsroom/euros-bounce-slows-as-focus-shifts-back-to-economy-ecb-policy/
via IFTTT
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Euro’s bounce slows as focus shifts back to economy, ECB policy

FILE PHOTO: Wads of euro banknotes are stacked in a pile at the Money Service Austria company’s headquarters in Vienna, Austria, March 3, 2016. REUTERS/Leonhard FoegerFebruary 19, 2019
By Shinichi Saoshiro
TOKYO (Reuters) – The dollar held steady against its peers on Tuesday, lacking strong direction as U.S. markets were shut for a holiday the previous day, while the euro’s latest bounce slowed as the focus drifted back to the economy and European Central Bank policy.
The dollar index versus a basket of six major currencies was little changed at 96.784 after ending the previous session flat. The U.S. financial markets were closed on Monday for Presidents’ Day.
The euro was little changed at $1.1312 after edging up 0.16 percent overnight, when it pulled away from a three-month low of $1.1234.
The single currency was buoyed by improved investor sentiment as expectations increased for an easing of the U.S.-China trade conflict after both sides reported progress in talks.
The dollar, the world’s most liquid currency, has tended to perform well during bouts of investor nervousness.
“The euro’s latest bounce was not based a positive incentive specific to the currency and the market will likely return to pricing in the potential negatives. The euro will remain on a shaky footing,” said Masafumi Yamamoto, chief forex strategist at Mizuho Securities.
“There is still some way to go before potential negatives are factored into the euro ahead of the March 7 ECB meeting.”
ECB policymakers will next meet on March 7, when the bank’s staff are expected to slash growth and inflation projections as the euro zone suffers its biggest slowdown in half a decade.
The dollar was a shade lower at 110.59 yen after gaining a modest 0.15 percent overnight.
The Australian dollar was flat at $0.7129 after dipping 0.15 percent the previous day.
The immediate focus was on the minutes from the Reserve Bank of Australia’s (RBA) monetary policy meeting held at the start of the month.
Governor Philip Lowe on Feb. 6 opened the door to a possible rate cut by acknowledging growing economic risks, in a remarkable shift from its long-standing tightening bias that sent the Aussie tumbling.
Source: OANN
from MAGA First News https://magafirstnews.com/oan-newsroom/euros-bounce-slows-as-focus-shifts-back-to-economy-ecb-policy/
via IFTTT
submitted by peterboykin to The_NewDonald [link] [comments]

Euro’s bounce slows as focus shifts back to economy, ECB policy

FILE PHOTO: Wads of euro banknotes are stacked in a pile at the Money Service Austria company’s headquarters in Vienna, Austria, March 3, 2016. REUTERS/Leonhard FoegerFebruary 19, 2019
By Shinichi Saoshiro
TOKYO (Reuters) – The dollar held steady against its peers on Tuesday, lacking strong direction as U.S. markets were shut for a holiday the previous day, while the euro’s latest bounce slowed as the focus drifted back to the economy and European Central Bank policy.
The dollar index versus a basket of six major currencies was little changed at 96.784 after ending the previous session flat. The U.S. financial markets were closed on Monday for Presidents’ Day.
The euro was little changed at $1.1312 after edging up 0.16 percent overnight, when it pulled away from a three-month low of $1.1234.
The single currency was buoyed by improved investor sentiment as expectations increased for an easing of the U.S.-China trade conflict after both sides reported progress in talks.
The dollar, the world’s most liquid currency, has tended to perform well during bouts of investor nervousness.
“The euro’s latest bounce was not based a positive incentive specific to the currency and the market will likely return to pricing in the potential negatives. The euro will remain on a shaky footing,” said Masafumi Yamamoto, chief forex strategist at Mizuho Securities.
“There is still some way to go before potential negatives are factored into the euro ahead of the March 7 ECB meeting.”
ECB policymakers will next meet on March 7, when the bank’s staff are expected to slash growth and inflation projections as the euro zone suffers its biggest slowdown in half a decade.
The dollar was a shade lower at 110.59 yen after gaining a modest 0.15 percent overnight.
The Australian dollar was flat at $0.7129 after dipping 0.15 percent the previous day.
The immediate focus was on the minutes from the Reserve Bank of Australia’s (RBA) monetary policy meeting held at the start of the month.
Governor Philip Lowe on Feb. 6 opened the door to a possible rate cut by acknowledging growing economic risks, in a remarkable shift from its long-standing tightening bias that sent the Aussie tumbling.
Source: OANN
from MAGA First News https://magafirstnews.com/oan-newsroom/euros-bounce-slows-as-focus-shifts-back-to-economy-ecb-policy/
via IFTTT
submitted by peterboykin to The_NewDonald [link] [comments]

Importance of Social Trading in Forex Brokerage

Social Trading Platforms has revolutionized the forex market to a great extent. It has been proven to be quite beneficial for new traders to learn new skills, strategies, and tactics for forex world in a short duration of time. But the question arises, “How are social trading platforms benefiting the forex brokers?”
If you are one of the forex brokers who already know some good strategies to earn good money in forex market, social trading platform might seem non-beneficial for you. But that is not true. A social trading platform is a strong tool from which forex brokers can highly benefit from.
Social Trading platform is a place where there is low risk of losing money in a forex market and therefore, new traders do not hesitate participating in forex market via these platforms. Participation of these new traders opens up a wide range of clients that brokers can acquire by having conversations, building trusts and gaining reliability from new traders. The lifetime of an average trader on social trading platforms are 14% higher than the ones who are not.
People follow experienced brokers on these social trading platforms. By making a good image and building a good relationship with your followers, you can actually retain all the followers. The new traders will build a trust in you and will be comfortable with your brokerage instead of going to a very new broker again.
Social trading platforms connects traders from almost all regions of the world. This can be the biggest platform to make more number of clientele. It will increase your trading activity by more than 50%. One of the reason behind this is traders can be from different time zones and will be active even in your downtime. Another reason for increased trading activity is whenever a broker opens a position, every new trader copying will also open the same position at the same time. When profiting by traders, these traders spend more time on these platforms which eventually increases trading activity and retention.
The attrition rates of social trading platforms are thus very low and it helps in boosting the retention of the traders. As a broker gets more and more followers, they tend to become a big community, attracting more new traders. The cycle thus grows and a forex broker can highly benefit from such social trading platforms, acquiring more and more traders every day.
Here is a list of forex brokers who are earning a big time using social trading platform as a tool.
  1. Jeroen Dekker with a gain percentage of 123.20% and 1905 Copiers.
  2. Fabian Gerspacher with a gain percentage of 47.08% and 1490 Copiers.
  3. Sergejs Kovalonoks with a gain percentage of 41.28% and 1631 Copiers.
There are more like them such as: LaserWinner on Zulu platform who has drawdown about 3 times than the average gains of other traders who do not use social trading platform opening 12 trades at the same time.
The average pip gains on these social trading platforms are at least 11-12 per trade. A broker named as TrendingFund have made over $15000 profit for their live followers. There are various such brokers (Janhne, 4exPirate, Jaynemenis, EdleMetalle, Luck Pound, Berrau, SyConNET, Liam Davies) who are making limitless profit from such social trading platforms.
The fond of social trading platforms are growing more and more in countries like Sydney, Tokyo, Hong-Kong, Bahrain, Zurich, London, Chicago, New York, San Francisco, Los Angeles, and many European and Asian countries as well. It has become the largest financial market in the world and registered a turnaround of more than 1600 billion dollars more and more traders are signing up on these social trading platforms to make a good trade and earn money. As the number of these new traders grows, the opportunities of high-end brokers to make a good client list grows.
How to become a Broker that other’s follow? Make a good record: Do not expect that as soon as you join a trading platform, people will start to follow you. People rely on your track record. So in early stages build a good track record which will encourage others to follow you.
Make sure you followers are also making good money: As soon as your followers will start making profits, it will encourage other traders to follow you. Real money speaks for itself.
Make a clear trading strategy and the same goes with your profile: The better your profile is, the reliable you look to the other traders.
Do not rely on automated systems completely: People rely on brokers who keep on making manual interventions with the change in market.
Set stop levels to manage risk: If you don’t keep a stop level, it will mean unlimited risk for your followers.
Keep check on your draw-down: It acts as a negative quotient for a broker’s account.
Keep a check on your winning percentage: Anything above 85% will portray that you carry a high draw-down risk because it will look like you were holding on to a losing position until it eventually turned positive again.
Communicate with your followers frequently: Keep them updated about your strategy and market. This habit will give your followers a sense that you analyze the market closely and hence you will react and adjust to market change effectively and much sooner.
Followers and traders look closely on how you react and behaved in a bad run: Keeping calm and sticking to your tried and tested principals could be your mantras. Do not start chasing your losses. It creates a bad impression on you followers and other traders.
Keep a track of your risks and traders and gradually you will build a remarkable network with immense profit. Internet in booming these days and so are these social trading platforms. Using these platforms can turn into your best decisions and one of your major income tool.
Reference Link - https://bit.ly/2rE9lli Visit www.simple2trade.com for more information.
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Daily Market Overview 28 September 2018

Daily Market Overview 28 September 2018
USA
Eight of the 11 sectors in the S&P 500 rose as shares slid back after a decline in the last hour of the session on Wednesday. The S&P 500 increased by 8.03 points or 0.28%. The Dow Jones added 54.65 points, or 0.21%, to 26439.93, the Nasdaq closed at 51.60 points, or 0.65%, to 8041.97. The new S&P 500 communication sector grew by 0.8%, and the technology sector by 0.5%.
Oil
Light, sweet oil for delivery in November ended 0.8% higher at 72.12 a barrel on the New York Mercantile Exchange. This is just a shy 11-week closing high of 72.28 per barrel. Brent crude, the global benchmark, rose 0.5% to 81.72 a barrel. The Fed on Wednesday lifted rates on federal funds for the third time this year at a level of 2% to 2.25%.
Forex
While the dollar was more muted during the rate hike session, it climbed higher the day after the ICE U.S index. The dollar rose 0.7% to 94,876. The trade deficit for August rose to 75.8 billion, compared with 70.6 billion, the expected economists surveyed. The euro was weaker, falling to 1.1661 versus 1.1742 late Wednesday in New York.
Asia
Taiwan's Taiex grew by 0.5%. This contrasts with 1% drops in Tokyo and Shenzhen and is reduced by at least 0.5% in India and Hong Kong. Oil rose another 1% in Asian trading. The Japanese Nikkei Stock Average fell 1%, while Hang Seng in Hong Kong fell by 0.4%. Nikkei fell to 23,796.74, finishing the eight-day winning streak.
Read more: https://www.facebook.com/294693984421347/photos/a.295490831008329/328348017722610/
https://preview.redd.it/zfo6v5e0ajp11.png?width=700&format=png&auto=webp&s=7d3a24b3791ced9fcdbe63e4cc3f545a97a12a44
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What is Forex?

One of the most intriguing markets in the world right now is the Foreign Exchange Market. What people popularly call fx trading, currency trading or forex exchange happens in this market.
In the most simple explanation, the foreign exchange market is where currencies are traded. It is currently the largest and most liquid market in the world. It averages a daily trading volume of almost five trillion dollars. Even if all the stock markets in the world combined, all those markets would still be overshadowed by the immenseness of the forex market.
Fx, foreign exchange or currency exchange is commonly tagged as forex. Large financial institutions, organizations, companies, banks, and rich investors are experts in forex trading. They have found greater trading potentials that other investments cannot cater.
Currencies are very significant. These are medium for exchange and without it, people cannot conduct trades and businesses. If a person who lives in America wants to buy a product in Europe, that person has to pay in euros to conduct a trade. That person has to pay in Euros to purchase that particular product. A tourist traveling in China cannot pay in the dollar to see the Great Wall since the dollar is not the accepted currency in China. Hence, the tourist should first exchange the dollar with the Chinese Yuan before seeing that fantastic landscape.
Currency exchange is essential for businesses and various trades to happen. This is the major reason why the currency exchange market or forex market is the largest market in the globe.
The foreign exchange market has numerous features that attract investors and traders alike. One notable feature of this immense market is that it is a decentralized marketplace — trading transactions don’t happen on one centralized exchange. In the forex market, fx trading is conducted electronically or over-the-counter which means transactions happen electronically.
Another notable feature of the forex market caters is that currencies are traded all around the globe and across almost every time zone. Currencies are traded in cities such as London, New York, Tokyo, Zurich, Frankfurt, Hong Kong, Singapore, Paris, and Sydney — the cities with the major financial institutions of the world. When the market in the U.S. closes, the market in Tokyo and Hong Kong is just about to open. Which means the forex market is open 24/5, 24-hrs a day, five days a week.
There are many ways to trade in forex such as the spot market, forwards market, and the futures market. The most widely-known way to trade in forex is through the spot market. This is the largest market in the foreign exchange world since the forwards and futures markets bases their underlying assets in the spot market.
Before, the futures market was the most popular market in fx trading. But because of the recent technological advancements, it gave birth to electronic trading and numerous forex brokers. Since then, the spot market experienced great growth in activities and has now surpassed the forwards and futures market as the preferred trading grounds for investors and traders.
Due to its popularity and attractiveness to investors, many people brought many names to forex such as fx, fx trading, currency exchange, and foreign currency exchange but those labels are simply referring to one market, the Forex Market.
Learn more about forex here at Millennium-FX.
Read More: https://blog.mlnfx.com/foreign-exchange-market/
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Experienced Traders: help me put my early results in perspective, please?

I'm up almost 20% in one week, without ever risking more than 5-6% of my account balance on any single trade. I'm sure this is unsustainable, but is it possible I could average 5%/week over time?
Background: I have spent much of the last decade playing poker professionally, so I am way more experienced with short-term, high pressure, real-time investment decisions than the average n00b forex trader. I read a book on forex and opened a practice account, which I traded successfully for a month before going live.
The strategy i developed is pretty simple:
-I started with $500 and only trade 10k lots. My plan is to move up to 20k lots when (if?) I hit $1k, 30k lots at $1500 etc.
-I only trade the EUUSD.
-I hold positions for anywhere from a few minutes to a few hours.
-When euusd is moving back and forth within a fairly narrow trading range (10-15 pips), I wait for it to approach the top or bottom of the range and then jump in to catch the rebound.
-If I am right, I cash out quickly and take my 3-5 pips and then wait for the next set-up.
-If I am wrong and find myself sitting between 5 and 10 pips in the negative, I consult longer timeframe charts to decide whether to kill the trade and cut my losses, or risk another 10-15 pips if I think I just entered too soon and will get it back on the rebound.
-If I do choose to hold on once I'm down 10 pips, I cash out as soon as a spike in the right direction gets me even on that trade or just slightly ahead. Sometimes I'll cash out a few pips down if it looks like my rebound is petering out and down a few pips is as close Im gonna get for that trade.
-If I hold on and it keeps moving against me, I cut my losses at 20-25 pips. At that point the premise of my set-up (that we're range-bound) is no longer valid.
-I steadfastly resist the temptation to add a second 10k to a losing position in an attempt to dollar cost average my way back out of the hole (this was the move that got me in trouble my first week of practice trading)
-I close out any short-term positions as the hour when Tokyo, New York, or London begins trading approaches, since this often leads to bigger swings that I cannot predict without better fundmanetals.
-When the market is not moving in a predictable range, I sit out and wait for it to either settle (at which point I start short-term scalping again), or make a big move in one direction.
-When it swings big (30 pips+ in less than an hour, 80 pips+ over a few hours) I wait for the breakout to stall, then jump in to try and catch the rebound. I'll set a limit at around 50% retracement(basically a fibonacci target with a substantial margin of error). I'll set my stop loss at around 30 pips, generally aiming about 5 pips beyond where the charts show the next big resistance level to be located. I'm willing to risk a few extra pips to decrease the chances that I will get stopped out on a spike that tests just at or just beyond the likely resistance point before failing.
I can easily spot a big potential flaw in my approach: my losses are 2-4x the size of my wins, forcing me to be right a big % of the time to stay profitable. Just 2-3 blown trades in a row will eat all the profit of a bunch of wins. That said, I've had 51 winners averaging 4.5 pips against 11 losers averaging 11.4 pips, since I started trading real money. These figures are only slightly better than my averages over 250 practice trades.
I strongly suspect that I am running over variance, and I can easily compute that if I flip only one trade each day from winner to loser, I finish the week up 25 pips instead of 100. But even that average would make me rich in a couple years. Frankly, picking off five pips a day seems way easier than beating poker games.
What am I missing??
TL;DR: Worried I've just had beginner's luck and I am about to get stomped
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Dollar steady, markets take North Korea missile test in stride

This is an automatic summary, original reduced by 68%.
TOKYO The dollar edged higher against a basket of currencies on Monday, moving away from last week's 6-1/2-month lows and shrugging off news of North Korea's latest missile test as investor attention turned to the Federal Reserve's expected interest rate hike next month.
The dollar index, which tracks the U.S. currency against a basket of six major rivals, inched up 0.1 percent to 97.502, holding well above last week's nadir of 96.797, its lowest since Nov. 9.
The U.S. economy was at or near the Federal Reserve's goals of full employment and stable prices, Williams said, adding that the U.S. central bank wanted to ensure markets stayed calm as the Fed slowly returned interest-rate policy to normal.
Gross domestic product grew at an annual 1.2 percent in the first quarter, faster than the 0.7 percent reported last month, though softening business investment and moderate consumer spending might impede an acceleration in the second quarter.
With U.S. and UK markets closed on Monday for the Memorial Day holiday, major currency pairs were likely to tread water, with few incentives to take new positions.
The South African rand rose to a two-month high of 12.6300 per U.S. dollar, after South African President Jacob Zuma defeated a no-confidence motion against him at a meeting of top officials of the ruling African National Congress on Sunday.
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Dollar hits two-week high vs yen on U.S.-Japan summit relief

This is an automatic summary, original reduced by 59%.
TOKYO The dollar rose to a two-week high versus the yen on Monday, with the market breathing a sigh of relief as the closely watched two-day U.S.-Japan summit held over the weekend was seen to have ended smoothly.
The dollar index against a basket of major currencies was up 0.15 percent at 100.930.DXY, close to a near two-week high of 101.010 reached on Friday when pledges of "Phenomenal" tax reforms by Trump had boosted the greenback.
The dollar was up 0.65 percent at 113.920 yen JPY=, briefly touching 114.170, the highest since Jan. 30.
"There is relief that the summit ended without confrontation, and that the joint statement did not directly touch upon currency issues," said Masafumi Yamamoto, chief forex strategist at Mizuho Securities.
"While the outcome of the U.S.-Japan summit itself is not a huge dollar boosting factor, the currency continues to receive firm support from expectations towards Trump's 'phenomenal' tax plans," Yamamoto said.
"The RBNZ has clearly knocked the New Zealand dollar lower. However, we still find it difficult to get overly bearish given a still solid economic picture," wrote Philip Borkin, senior economist at ANZ. The Australian dollar was little changed at $0.7671 AUD=D4 after surging 0.7 percent on Friday on upbeat Chinese trade data and an optimistic economic view given by the Reserve Bank of Australia.
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Japan's top currency official rejects Trump devaluation claims

This is an automatic summary, original reduced by 67%.
TOKYO Japanese policymakers hit back at U.S. President Donald Trump's accusation of currency manipulation on Wednesday, stressing that Tokyo was abiding by a Group of 20 agreement to refrain from competitive currency devaluation.
The dollar was on the defensive after Trump and trade adviser Peter Navarro criticized China, Germany and Japan, saying they were devaluing their currencies to the disadvantage of the United States.
Japan would "Seek to communicate closely" with the new U.S. administration on trade, economic and currency matters, Suga added.
"As Bank of Japan Governor Kuroda has said repeatedly, Japan's monetary policy aims to achieve the domestic purpose of ending deflation. It's not aimed at currency rates," Asakawa, vice finance minister for international affairs, told reporters.
Finance Minister Taro Aso will explain Japan's stance on currencies and monetary policy when he joins Abe at next week's meeting with Trump, a senior government source told Reuters.
Japanese policymakers have argued that the BOJ's ultra-easy monetary policy is solely aimed at beating deflation and did not go against a Group of 20 agreement to refrain from using monetary policy for currency devaluation.
Summary Source | FAQ | Theory | Feedback | Top five keywords: Japan#1 currency#2 policy#3 yen#4 Trump#5
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Asia subdued before oil producers' meeting, China GDP taken in stride

This is an automatic summary, original reduced by 67%.
TOKYO Asian stocks were subdued on Friday as caution over a weekend meeting of oil producers tempered risk sentiment, while the region's markets took China's relatively upbeat GDP data in stride as the numbers were in line with expectations.
China's economy grew 6.7 percent in the first quarter from a year earlier, and while this was the slowest since 2009, it met expectations and provided additional evidence that a slowdown there may be bottoming out.
The index has gained about 3.6 percent on the week during which it hit a five-month high, helped by a slight thaw in pessimism over the Chinese economy and an earlier surge in crude oil prices.
"There are a lot who doubt the current market rally at the moment, particularly when the S&P 500 is so close to its all-time highs," wrote Angus Nicholson, market analyst at IG in Melbourne.
U.S. crude oil CLc1 was up 6 cents at $41.56 a barrel, but still off a 4-1/2-month peak above $42 reached mid-week when market hopes were higher that the Doha producers' meeting would result in tighter supply.
The forex market awaited the outcome of a Group of 20 meeting in Washington which was seen likely to discuss currency policies.
Summary Source | FAQ | Theory | Feedback | Top five keywords: percent#1 high#2 market#3 week#4 Chinese#5
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Yen and euro sink as officials ease global nerves

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LONDON The euro and yen weakened 1 percent against the dollar on Monday, with investors reversing the past week's search for traditional safe locations for capital as officials signaled they could do even more to spur the global economy.
With U.S. markets closed for a domestic holiday, Japanese Prime Minister Shinzo Abe led the way by warning Tokyo would take action against "Excessive currency volatility" - read universally as a threat to intervene against the yen.
"Since Draghi started speaking the dollar has extended its gains against the euro," said Piotr Matys, a strategist with Rabobank in London.
The euro EUR= has been a slightly shakier choice as a haven for investors' money in the past week but both it and the yen were down by a full percentage point against the dollar as Draghi spoke in the European parliament.
The Australian and New Zealand dollars, both commodities-linked currencies dependent on optimism over global growth, each gained around half a percent against the dollar.
That broadly reflected a weakening of the dollar against its developed world peers over that period, but not its moves against other emerging Asian currencies.
Summary Source | FAQ | Theory | Feedback | Top five keywords: dollar#1 against#2 percent#3 yen#4 euro#5
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Forex Elite - YouTube Tender and Delicious! Beef Tongue set meal at Tokyo station for a lunch What are the forex sessions - YouTube Mystery Man Who Moves Japanese Markets Made More Than 1 Million Trades FXライブトレード FOREX TRADING ON LIVE STREAM Tokyo Samurai Trading System

The Forex market is a little odd in it’s opening hours. Unlike most financial markets that open around 8:00 am in the morning and close around 6:00 pm in the evening, Forex is open 24 hour per day. Since Forex lacks a central exchange, it moves from country to country during the week. Forex only closes on weekends when most of the worlds ... To work well this trading strategy, you have to identify the time of the correct 1H candle that represents the first hour of the Tokyo session. It varies from broker to broker. Then, mark the three candles prior to this candle. These candles represent the time after the close of the New York session but prior to the Tokyo session. Bracket the ... The Asian session is often called the Tokyo session as well. It begins with the Sydney open (22:00 GMT) and ends with the Tokyo close (08:00 GMT). Japan is the world's third-largest Forex trading center and even though we call it the Tokyo session, not only Japan is involved in trading in this period. There are also Hong Kong, Singapore and ... Use the below Forex Market Clock to check where your current time is in relation to the 4 major forex trading sessions (Sydney, Tokyo, London and New York). You can also select the GMT option to check current GMT time in relation to the sessions. Use GMT Time. It is important to remember that each of the forex session times are approximations as to when trading activity picks up and is ... Does Tokyo Stock Exchange Close For Lunch? The Japan Exchange Group closes for lunch each day at 11:30 AM and reopens for after lunch trading at 12:30 PM. The daily lunch break is 1 hour per day. Most stock markets in Asia close for lunch and a few exchanges in the Middle East do as well. Stock exchanges in most of the rest of the world remain open continuously from the Opening Bell to the ... If you open a position at 9:30 PM (21:30), and close it at 10:30 AM (22:30), your trade goes from one to another Forex day and rollover/swap are applied. If you open a position at 10:30 PM (22:30), and close it next day at 11:00 AM (11:00), your trade is intraday (closed within the same Forex day), and no rollover/swap apply. Forex trading hours: London, New York, Tokyo, Sydney sessions Best trading time in the Forex Market Learn about trading forex during the Asian session. Our guide includes Tokyo forex market hours, top currency pairs to trade and breakout strategies and tips. One thing worth noting is that Japan is the third-largest forex trading center in the world. This shouldn’t be too surprising since the yen is the third most traded currency, partaking in 16.8% of all forex transactions. Overall, around 20% of all forex trading volume takes place during the Asian session. It’s not all coming from just Tokyo ... Tokyo will open at 00 am in Greenwich Mean Time and close at 8 am in Greenwich Mean Time. These are the basic references for GMT, as it is the default setting for identifying forex market times. New York, Sydney, and Tokyo are some of the most popular cities in the forex market. These cities conduct a large volume of forex trades. It is very ...

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Forex Elite - YouTube

@ Members :: This Video would let you know about utilzation of Options Contracts like Buy Put and effective usage of Tokyo Cut ( published at 3 PM Tokyo Timings ) You are most welcome to connect ... Find out why Close. Tender and Delicious! Beef Tongue set meal at Tokyo station for a lunch 2nd Channel / Japanese Forex Trader Kei ... 2nd Channel / Japanese Forex Trader Kei 222 views. 9:09 ... Mystery Man Who Moves Japanese Markets Made More Than 1 Million Trades Tokyo. Japan Stock Market. Little Lesson on the sessions and markets Close. This video is unavailable. Watch Queue Queue. Watch Queue Queue. Remove all; Disconnect ; The next video is starting stop. Loading... Watch Queue Queue. __count__/__total__ YouTube Premium ... Find out why Close. #FX #FOREX #FX ... #FX #FOREX #FX ライブ #FOREXlive ... 3 simple steps & make forex trading profit / Tokyo Box Breakout Strategy - Duration: 10:08. Japanese Forex Trader Kei ... Forex Trading Strategy - Major Updates Released Every Year - Subscribe & enable notifications so you don't miss out.

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