2020 Forex Trading Statistics + Industry Guide [Fact Checked]

What is Forex The Foreign Exchange market, also called FOREX or FX, is the global market for currency trading. With a daily volume of more than $5.3 trillion, it is the biggest and most exciting financial market in the world.

What is Forex The Foreign Exchange market, also called FOREX or FX, is the global market for currency trading. With a daily volume of more than $5.3 trillion, it is the biggest and most exciting financial market in the world. submitted by investuniques to u/investuniques [link] [comments]

What is Forex and how it works. The Foreign Exchange market, also called FOREX or FX, is the global market for currency trading. With a daily volume of more than $5.3 trillion, it is the biggest and most exciting financial market in the world.

What is Forex and how it works. The Foreign Exchange market, also called FOREX or FX, is the global market for currency trading. With a daily volume of more than $5.3 trillion, it is the biggest and most exciting financial market in the world. submitted by investuniques to u/investuniques [link] [comments]

Comparing the daily bitcoin trade volume to Forex and stock markets /r/btc

Comparing the daily bitcoin trade volume to Forex and stock markets /btc submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Comparing the daily bitcoin trade volume to Forex and stock markets

I see a daily volume for the last 24 hours of around 125,000 bitcoins right now.
At $436 right now that would be around 54.5 million dollars a day.
In contrast, Forex markets are estimated at $4 trillion a day. And world wide stock markets are placed around $85 billion a day at the same source.
That makes the bitcoin markets volume right now slightly more than 0.001 percent of Forex, and around 0.06 percent of stock market volume.
Clearly there is some space left to grow.
submitted by Karl-Friedrich_Lenz to btc [link] [comments]

People who regurgitate Warren Buffets Long Term Investing strategy over successful day trading are delusional here's why.

It bugs me when people say warren buffets idea of investing which is hold long term and put in sp500 and that you can't beat the 10% returns of the sp500. People don't realize that he is referring to people with HUGE CAPITAL. When you are working with 50k it's different than trading 50 million. I can very well make 15% in a month with 50k but would differently not be able to replicate that with a 50 million account. He even said it himself
"if I was running $1 million today, or $10 million for that matter, I’d be fully invested. Anyone who says that size does not hurt investment performance is selling. The highest rates of return I’ve ever achieved were in the 1950s. I killed the Dow. You ought to see the numbers. But I was investing peanuts then. It’s a huge structural advantage not to have a lot of money. I think I could make you 50% a year on $1 million. No, I know I could. I guarantee that.”
Then when I tell people I make 10% on 50k a month I get the stupid comments
"iF yoU MAke 10% a mOntH YoU wOulD be A BiiLlIonaire iN just 4 YeArS"
But it just doesn't work that way.
The magic of Buffett’s strategy is its ability to scale. When Buffett makes 20%, he can do it on $150 thousand or $150 million or $150 billion. This is not true for ordinary traders! And Defiantly not me.
My end goal is to reach a number in which when get there I would be fully retired because although day trading is definitely more free and rewarding than working a standard job at the end of day you are still working. Once I reach my end goal through real estate and yes Long term investing with sp500 I would be better off getting my 5- 10% annually on my main account than my day trading account 50k and making 7-10k a month until then I will day trade as its the most rewarding way I can make money and currently defiantly more the sp500 can make.
submitted by Greymatter1399 to Forex [link] [comments]

Why does Forex gets such a bad rep?

If you don't know what I am talking about, just type it up. Take 15 seconds of your time, go in google images, and see the difference when you type "Forex lifestyle" and "stock market lifestyle".
Theoretically, Forex trading isn't much different than stock trading. Both are financial markets using charts with candlestick that create the same patterns. Both rely on reports, news and the economy. Also, just like the stock market, banks and big insitutions trade forex too.
In fact, forex is the largest financial market in the world with a daily volume around $6.6 trillion compared to only $200 billions for all the stock markets. Forex is responsible for the exchange of goods between countries. It is literally the foundation of a worldwide economy.
So why is it that when someone asks you what you do for a living or that when you tell someone you're trading forex, you always get that weird suspicious look as if you're a fraud yourself.
Why is it that people don't take seriously what you do and what you love doing, because they have this weird idea of a pyramid scheme created in their head. People are so lost. I mean, how could it even be a scam lmao. No matter what you trade: stocks, options, etf, bonds, forex, name them all... trading is trading.
As long as I am making money and know what I am doing, and couldn't care less about other people's opinion nowdays lol. But lately I've been asking myself this question and I simply wanted to know other people's opinions.
So back to my question: why does Forex gets such a bad rep?
submitted by PappyNova01 to Forex [link] [comments]

Wiseling investment starting at 0.8 daily profit, invest with BTC, ETH or USD


Have you ever heard about Wiseling investing opportunity? I'll take 5 minutes to explain you the potential of Wiseling.
They do offers investments deposit with cryptocurrency as Bitcoin, Ethereum as well as USD.
They are paying between 0.8 and 1.3% DAILY on your deposit, it also does pay much more percentage based on your investment amount.
It is Since more than two months (november 14th now) I've opened a Wiseling account and it's working as promised, i get paid timely and truly i have nothing to complain with.
For instance, If you do an investment of $100 USD in 16 working days your profit will be of $18,8 or if investing $500 for the same investment time the profit will be of about $94.6, or if $2500 is invested in again 16 working days you'll get a profit of about $472
You choose your investments that fits for you, it's starting as low as $50 usd up to $500 000

- 3 investment plans FIAT, CRYPTO and INDUSTRY, 16 working days up to 180 working days term- choose your budget- Smartphone app
- Official Wiseling TELEGRAM channel for live support and also you can talk with more Wiseling investors always active in there.
- referral program available for further profit opportunity
- Mattias Lappo CEO Zoom meetings available and scheduled through the telegram channel
- registered business in the Finland business registration website, please check the following link: https://tietopalvelu.ytj.fi/yritystiedot.aspx?yavain=2933769&tarkiste=44AE99D6CA65349424042CEE2F683610F35372BE&rekhist=True&leihist=false&path=
- The company is insured with Parker and Lawson insurance located in UK for 500 million dollars.
- Wiseling is registered with the European union, check the registration at the following address: https://www.vatcheck.eu/en/check-vat-number Company number: 3138760-7
- DAILY withdrawals available while your investment profit is accruing.
To register or for more info about the company click the link below.

https://wiseling.com/it/?network=7kwAbN

More info about the company:
In the stock market, Wiseling traders pay special attention to the positions of AAPL, SPX, DAX and DJII.
The total daily profit of Wiseling from all exchanges is from 9% to 15% every day
The daily trading volume on the Wiseling stock exchange is 60,000,000-72,000,000 US dollars. This number is growing every day.
Forex Daily Trading Volume - $ 12,000,000
The daily trading volume of the cryptocurrency exchange is between 80,000,000 and 120,000,000 dollars per day.
As a result, the company's finance department has developed a marketing plan that allows partners to pay a minimum percentage of their daily profits from 0.8% to 3.0%.
The referral program was also included in this business plan and bonus costs were included in marketing.
The company also works with stocks quoted by BGNE (stock growth for 2019 is 558.3%).
The growth of NVDA-2019 shares is 530.9%.
The growth of SODA-2019 shares is 530.2%.
The growth of WTW-2019 shares is 453%.
The growth of SGMS-2019 shares is 438.6%.
The growth of NCTR-2019 shares is 438.6%
The growth of CHGG-2019 shares is 395.8%.
Therefore, the company will pay a stable income to all partners in the long term.

Sign up here: https://wiseling.com/it/?network=7kwAbN

bye, have a good investment profit.
submitted by fracazzo1968 to investing_discussion [link] [comments]

Forex Trading Strategies Reddit: What you need to know to start Forex trading.

Forex Trading Strategies Reddit: What you need to know to start Forex trading.

FOREX Strategies

What are FOREX Strategies?
https://preview.redd.it/ihmphstzguv51.jpg?width=960&format=pjpg&auto=webp&s=81f6b73c367d8695605514f8d32aaf3e2aeabc6e
You may have noticed that most of people confuse the terminology and refer to FOREX Strategies in the wrong way. There are methodologies, systems, strategies, and techniques. The most effective methodology is Price Language (Trend Tracking). Combined with a correct reading of mass psychology presented by the charts.
We know that in the Stock Markets there are thousands of strategies. FOREX, like the rest of the markets, presents you with the opportunity to apply similar strategies to win consistently. Taking advantage of repetitive psychological patterns.
First, the Price Language methodology has created great fortunes in FOREX, and the next fortune may be yours. But this methodology must be implemented within a framework of advanced concepts of Markets. Without forgetting the basics. And working hard day by day.
Second, a strategy is a set of parameters and techniques that together give you the advantage to act in any situation. Thus for example in war, generals have attack strategies and counterattack strategies.
FOREX strategies alike are entry strategies and exit strategies. All beginners should know these FOREX strategies for beginners. That way you will get a general idea of ​​the game and understand that trading is a war against the Market and its Specialists. Only applying FOREX strategies revealed by the same Specialists and using their own techniques,
... you can survive in this war.
Do not fall into the trap of the many "systems" and "methods" that are offered on the internet about operating in the FOREX Market. They just don't work in the long run. They are strategies based on indicators for the most part. Using rigid parameters. That if they can work and give profitability during a certain period of time, they will always reach a breaking point when the market changes its dynamics.
Instead, take advantage of your precious time and learn the Language of Price or Price Action.
The Language methodology will allow you to adapt to each new phase of the Market. If you combine this knowledge with the appropriate psychological concepts, you can live comfortably from speculation in FOREX.

Forex Trading Strategies Reddit - Basic FOREX Strategies

You have two basic FOREX strategies, one entry, and one exit. Both follow a general strategy that helps you capitalize on the collective behaviors of the Market. That is, of the total of participating speculators.
This behavior causes the formation of cycles that repeat over and over again. Driven by the basic emotions (uncertainty, greed, and panic) of the speculators involved that can be taken advantage of with the aforementioned FOREX strategies. Specialists identify these emotions in the order flow and capitalize on these events every hour, every day, and every month.
Basic FOREX Strategies - The Price Cycle
These repetitive cycles consist of 4 phases:
  1. Accumulation
  2. Upward trend
  3. Distribution
  4. Downward trend
https://preview.redd.it/6dvk2w0pduv51.png?width=300&format=png&auto=webp&s=a3ab65ca4eab6d20174b3327b862d8b59dcc13b7
The two trends can be easily identified by their notorious breakdown. And the two areas of uncertainty (accumulation and distribution), due to their notorious range trajectories.
This general behavior determines the core of our FOREX strategies.
You buy when the price of a pair has broken and has come out of one of its congestion formations (accumulation or distribution). You implement one of the Forex strategies, in this case, the entry one.
The multi-time technique will help you find the point of least risk when entering your initial buy or sell order. In the same way and using the same strategy but this time to close your position, the multiple timing technique will also show you how to close your operation obtaining the highest possible profit.
The most consistent way to extract profits in the market is by trading the start of trends within a cycle . Once confirmed by their respective breaks from the areas of uncertainty. This is the mother of all FOREX strategies . And in a market that operates 24 hours, we have more frequent cycles and therefore more opportunities.

Forex Trading Strategies Reddit - Advanced Forex Strategies

There are many advanced FOREX strategies that are generally used by professional speculators working for large financial firms.
Among these firms are banks, Investment Fund managers and Hedge Fund managers. The latter is an investment modality similar to Investment Funds, with the difference that Hedge Funds use more complex investment strategies. Its operations are more oriented to aggressive speculations in the short and medium-term.
Among the most common strategies is hedging (hedging), carry trade, automated systems based on quantum mathematics. And a large number of combinations between the different option strategies.

The Carry Trade

The central idea of ​​Carry Trade is to buy a pair in which the base currency has a considerably higher interest rate than the quoted currency. To earn the difference in rates regardless of whether the price of the pair rises or falls.
Suppose we buy a $ 100,000 lot of AUDJPY, which according to the rates on the chart would turn out to be the ideal instrument in this example to use the Forex carry trade strategy.
As our capital is in US dollars we have to assume for our example, the following quotes necessary to perform the place calculations:
AUD / JPY = 80.00 USD / JPY = 85.00
What happens internally in your broker is this.
  1. By placing as collateral $ 1,000 of your $ 50,000 of capital (assumed for this example), deposited in your account, you have access to $ 100,000 virtual (this is what is known as leverage); that is, you put in $ 1,000 and your broker lends you 99,000.
  2. With those $ 100,000 virtual dollars, your broker borrows on your behalf ¥ 8,500,000 Japanese yen (85 × 100,000) at 0.1% annual interest from a Japanese bank.
  3. With those ¥ 8,500,000 Japanese yen, your broker buys A $ 106,250 Australian dollars (8,500,000 / 80) and deposits it in an Australian bank where it receives 4.5% annual interest on your behalf.
  4. One year later (and regardless of the profit or loss generated by the pair's movement), your profit will be the difference between the AUD rate and the JPY rate, that is:
Profit = (AUD rate) - (JPY rate) - (costs of the 2 currency exchanges) Profit = (4.5%) - (0.1%) - (0.1% to 1%)
The great advantage of carry trade FOREX strategies is that this percentage profit is applied to the $ 100,000 of the standard lot; the broker transfers all of the profit to you, even if you only contributed $ 1,000. On the other hand, if you carry out the inverse of this operation, this benefit of the Forex carry trade becomes a cost (swap), and you assume it completely.
Remember that FOREX carry trade strategies are recommended for pairs with considerable interest rate differences, such as the one we have just seen in our example.
These FOREX strategies should also not be used in isolation. The idea is that through technical analysis you identify when would be the ideal time to enter the market using your carry trade Forex strategy and multiply your profits considerably.

What FOREX Strategies Do Hedge Funds Use?

The FOREX strategies used by large fund managers do not constitute an advantage in terms of percentage results for them, nor do they constitute a competitive disadvantage for you.
The vast majority of them fail because of their big egos. In fact, there was a firm made up of great financial geniuses, including 2 winners of the Nobel Prize in Economics, who developed a strategy based on quantum mathematical calculations.
With an initial base capital of about 3 billion dollars, and after 3 successful years obtaining annual returns of over 40%, the firm Long-Term Capital Management, begins its fourth year with losses. To counteract these losses the geniuses decide to multiply the initial capital several times, while the losses continued.
The year closed with the bankruptcy of the fund, and with a total accumulated loss of 1 trillion dollars, due to the great leverage used. And all for not admitting that the FOREX Strategies of Long Term Capital Management were not in line with the dynamics of the Market.
There are an overwhelming number of opportunities in the stock markets to make money interpreting the Language of Price.
You don't need to use complex "advanced" strategies that have been created to handle hundreds or billions of dollars.
The reasons for using these FOREX strategies are very different from what a "retail trader" pursues with his small speculation business.
As you can see, you should not worry about wanting to integrate any of these advanced strategies into your arsenal. They are only beneficial for managing hundreds or billions of dollars, where the return parameters are very different when you handle small amounts of capital.
Do not worry about collecting hundreds of free FOREX strategies that circulate on the internet, that great accumulation of mediocre information will only serve to confuse you and waste your valuable time.
Spend that time learning Price Action,
… And you will always be one step behind the Specialists, identifying each new Market condition, and anticipating the vast majority of reversals of all prices.
Ironically, the most successful fund managers indicate that their most profitable trades are those based on the basic trend-following strategies of the Price Language. The same ones that you will learn in this Free Course.
Dedicate yourself to perfecting them and believe me you won't need anything else. As long as you have good risk management, taking into consideration the following points ...

Styles of Investments in FOREX

The Investment FOREX long term is not recommended for small investors like you and me. If we take into account the term investing literally as large investors do who buy a financial product today to sell it years later.
We both have a better niche in the short and medium-term.
You may have noticed that the big multi-year trends in the Forex Market do exist. But minor swings within a big trend are usually very wide.
These minor movements allow us to easily double and triple the annual return of the big general trend, motivating most traders to speculate in the short and medium-term.
These minor oscillations or trends that occur within the large multi-year trends owe their occurrence mainly to two reasons.
First, the FOREX Market presents 3 sessions a day each in different cities of the world with different time zones (Asia, Europe, and America). This causes more frequent trend changes than in the rest of the stock markets.
Second, the purpose for which it was created also plays a role. The modern Foreign Exchange Market, since its inception in 1972, was conceived by the global financial system as a tool for speculation. To obtain benefits in the short and medium-term (from several days to 1 year).
These two points are basically the reasons why we observe the immense speed with which the FOREX market changes trends.
For example, for those who live in America, in the early morning (Europe) the EURUSD pair may be on the rise, in the morning or afternoon (America) it may be down, and then finally at night (Asia) it may return to the rise.

Define your Own Style for your FOREX Investments

One of the first decisions you will have to make is to choose your style as a trader or investor.
There are 4 types of well-defined styles.
Most professional traders tend to have multiple styles, although they always identify with one primary style for their FOREX investments. Study the characteristics of the 4 main styles to make your investments in FOREX :
1. Long Term: recommended for anyone who is going to enter the market for the first time and who can dedicate a minimum of one hour per month to their investments in Forex. The period of an open position ranges from 1 year to 5 years.
2. Medium Term: recommended for anyone who is going to enter the market for the first time and who can dedicate a minimum of one hour per week to their investments in Forex. The period of an open position ranges from 1 month to 1 year.
3. Short Term: recommended for anyone who is going to enter the market for the first time, or who already has a certain time operating in the long and medium-term, showing constant profits, and who can dedicate a minimum of one hour per day to your investments in FOREX. The period of an open position ranges from 1 day to 1 month.
4. Intraday : recommended only for people with a fairly solid earnings record in the short term, and with a capital greater than $ 50,000. As we have noted, this option constitutes a full-time job.
People who start investing in FOREX , should start executing short-term (weeks) and medium-term (months) transactions only, and not pay attention to intraday oscillations (day trading).
If you are interested in being an intraday speculator, I recommend that you first exhaust at least a year doing operations in the short and medium-term to assimilate the correct strategies and to develop the necessary mentality to carry out this work.
The second option would be to participate in some kind of intensive training.
I remind you that self-educating is almost impossible in speculation. You are likely to accumulate a lot of knowledge by reading books and attending courses. But you will probably never learn to make money with all the incomplete "systems" circulating on the internet.

Mistakes to Avoid When Looking for Your Style

Many people who are new to FOREX investments make the mistake of combining these styles, which is a key to failure.
I recommend that if you are not getting the results you expected by adopting one of these styles, do not try to change it. The problem sure is not in the style, but in your strategies or in your psychology.
A successful investor is able to make a profit in any longer trading time than he is used to. I explain. If you are already a profitable operator in the short term, it is very likely that you will also be profitable in the medium and long term,
… As long as you can interpret the Language of Price or Price Action.
In the opposite case, the same would not happen. If you were a medium-term trader, you would need time to adjust to the intraday. The reality is that long, medium and short term traders have very similar personalities. The intraday trader is completely different.

The Myth of the Intraday in Investments in FOREX

If you are already successful in the short, medium and long term, you will notice that the sacrifice and the hours necessary in front of the computer to operate intraday is much greater. The intraday style will be useful to increase your account if it is less than USD $ 100,000 in a very short time in exchange for 8 to 12 hours a day of hard work but ...
You must first develop the necessary skills to operate the intraday.
The ideal is to combine all the styles to get more out of the Market and carry out more effective transactions and have a diversification in your investments in FOREX.
There are intraday traders that are very successful, but the reality is that there are very few in the world that make a profit year after year. If you want to become an intraday, you just have to prepare yourself properly through intensive training.
Otherwise, I recommend that you don't even think about educating yourself to adopt the intraday style. It is not necessary to go against a probability of failure greater than 99%. Unless
... your ego is greater than your common sense.
The main reason why this style of investments in FOREX is not recommended for the vast majority of us "retail investors" (the official term "retail traders"), is the high operational cost.
The real commissions in this market range between $ 2.0 and $ 2.50 for each lot of 100,000 virtual units. This means that a complete operation (opening and closing) is approximately $ 5.00, for each standard lot traded ($ 100,000 virtual).
Another fundamental reason is the advent of robotic traders (HFT = High-Frequency Trading), which tend to manipulate the market in the shorter intraday swings. Please do not confuse HFTs with automated systems that we find daily on the internet, and that can be purchased for a few hundred dollars and often for free on FOREX forums / groups.
These HFTs to which I refer, they are effective. They cost millions of dollars and have been developed by the large Wall Street financial firms to manage their investments in FOREX.
The reality of the intraday trader is that you execute orders for large lots at the same time, to profit from the smallest movements in the market. It is an activity based on reflexes. The slightest oversight or distraction can turn into a catastrophe for your FOREX investments.
I recommend that you start investing in FOREX using slow time periods such as H4 or Daily. For some reason, all Goldman Sachs intraday FOREX investments are made with algorithms.

Finally…

To choose your style as a trader and manage your investments in FOREX, first determine what your degree of experience is, analyze the points mentioned below and the rest you will discover when you execute your first operations.
The points that will affect your decision are:
  • Capital
  • Time available each day
  • Level of Experience
  • Personality
Discovering your style is a search process. For some it will be a long way to find the right time frame that matches their personality. Don't be put off by the falls. After all, those who continue the path despite the falls are the ones who reach the destination.
And I hope you are one of those who get up over and over again. The next lesson will boost your confidence when you discover the main reason that moves currencies ...

Fundamental Analysis in Forex Trading Reddit

The fundamental analysis in Forex is used mostly by long-term investors. Players as we saw in the styles of operators, start a negotiation today, to close it years later.
I always emphasize the importance that the mass media give to this type of analysis to distract the great mass of participants.
It is all part of a great mass psychological manipulation. For centuries the ignorance of the masses has been organized before the great movements begin.
The important news are the macroeconomic reports published by the Central Banks and other government agencies destined for this work. All reports are made up. 99% of them are corrected months later.
These events are tools to justify fundamental analysis and price cleaning movements. Any silly headline does the job. With this, it is possible to absorb most of the existing liquidity, before the new trend phase is projected.

Reaction!

Except in rare situations, the result of an economic report of the fundamental analysis is generally already assimilated in the graph. In most cases, there are financial institutions that already have access to this information and are organizing and carrying out their operations in advance.
The phrase buy the rumor and sell the news is a very old adage on Wall Street. And its meaning contains what we have just explained. For the investor who can interpret the Language of Price, fundamental analysis is of little importance. Well, in general, their disclosure does not indicate that you have to take any action in your open trades , as long as your entry strategy provides you with a good support cushion.
This reality of fundamental analysis causes a lot of confusion for investors who lack in-depth knowledge of the forex market.

Macroeconomic Data

The data published in these events is irrelevant. Both for speculators and for the people in general. They are false. They lack reliability.
The price can go up or down with the same result of the data. The main ones are:
- Interest Rates - GDP (gross domestic product) - CPI (inflation) - ISM (manufacturing index) - NFP (payroll) - Double Deficits (deficit = fiscal + balance of payments)
If you are initiated, I recommend you avoid operating near these events. It is only a matter of having the time pending. Use the economic calendar for Fundamental Analysis of Forex Factory.
There is a probabilistic advantage in operating these fundamental analysis events. But it takes preparation, experience, and practice. They represent a way of diversifying in the general operation of a speculator.

The Uncertainty of Fundamental Analysis

On many occasions after the disclosure of an economic report, the price movement of the currency pair that is going to be affected tends to move in the opposite direction to the logic of the report.
I show you an example of a fundamental analysis report. Imagine that the EUR / USD pair is trading at 1.2500, and the FED (US Federal Reserve) issues a statement announcing that it has just raised inter-bank interest rates from 0.25 points to 0.75 points. Very positive news for the US dollar that logically implies an appreciation of the currency and consequently an instantaneous collapse of the EUR / USD pair (up the dollar and down the euro)
However, minutes after the release of said fundamental analysis report, the pair after effectively collapsing to 1.2400, returns and returns to its levels prior to the report (1.2500). This situation is very common , but it is not so easy to identify it when it is occurring, but after the damage is done.
Traps like these devour the accounts of beginners who approach the market with little experience, with weak strategies, and especially with very little experience.
That is why I reiterate that you forget the fundamental analysis for now. Just keep in mind when operating, that there is no publication scheduled nearby. Just check the economic calendar for the day and forget about the numbers. Let the economists mess around with the data.

FOREX Market Correlation

The Forex market correlation exists between pairs with similar "base" currencies and not always under the same circumstances. The correlation in the Forex market that is most followed and that has the greatest impact on fundamental analysis is that of the US dollar (USD).
The USD is the most traded monetary unit with a volume greater than 80% with respect to the rest of the currencies. This fact determines why their correlation is the most important, the most followed, and perhaps the only one worth following in the fundamental macro analysis.
The 7 major pairs are usually in sync . These 7 pairs all include the USD and present a fundamental analysis correlation almost 75% of the time. Influencing the rest of the currency pairs.

Advantages of the FOREX Market Correlation

In the fundamental analysis the most basic FOREX correlation is the following. When the USD appreciates, the USD / CAD, USD / CHF, and USD / JPY pairs tend to go up in price. This indicates that the Canadian dollar (CAD), the Swiss franc (CHF), and the Japanese yen (JPY) are losing value against the USD.
We must bear in mind that this correlation does not occur 100% of the time. In fact, the JPY generally tends to move in the opposite direction , since in recent decades this currency has been used as a source of financing to invest in other financial instruments.
On the other side is the FOREX market correlation that generates a movement almost in unison in the other 4 major pairs EUR / USD, GBP / USD, AUD / USD, and NZD / USD. These tend to fall in price, homologous the appreciation of the USD. But not always.
In this case the fundamental analysis correlation works most of the time, between 65 and 85% of the time. Small differences are noted in the extent that each of these pairs experiences.
There is also a correlation in the secondary FOREX market, where the pairs of all currencies that do not include the USD participate, but I recommend you not to waste time on them for now. There are more important things about the Language of Price to know first.

FOREX Commodity Correlation

In this part I will explain to you in a basic way the Correlation Commodities - FOREX of the fundamental analysis.
There are three currencies that have a direct correlation with commodities. They are usually called: "COMDOLLS" which is short for "Commodities Dollars" (Commodities Dollars), since all three obey the dollar denomination. These are:
- The New Zealand Dollar (NZD) - The Australian Dollar (AUD) - The Canadian Dollar (CAD)
These three currencies make up the group of the 8 largest together with the euro, the pound, the yen, the franc and the US dollar. Together, they merge to produce the major pairs traded in the FOREX Foreign Exchange Market.
The FOREX Commodity Correlation has an affinity in most cases greater than 75%. And each of them has its different raw material of correlation. You will notice that the NZD and the AUD are two currencies that act practically in unison. Both present minimal discrepancies in their fluctuations in the short, medium and long term.
This is mainly because their economies are very similar and their economic and fiscal policies are too. Their main production items also show great similarities, despite the fact that the Australian economy is much larger than the New Zealand economy.
The raw materials that follow the movement of the AUD are mainly gold and copper. If you put the history of these three quotes during the last decade of the year 2,000 together on the same chart, you will notice a very similar upward movement between the three quotes. Pure correlation of fundamental analysis.
This strong correlation with commodities in the metals area for the AUD has provided Australia with an economic advantage enviable over the other major powers that have seen their currencies devalue sharply against the AUD. At the same time, they experience a constant decrease in the purchasing power of their citizens.
The NZD maintains a correlation with raw materials related to agriculture and livestock, mainly including milk and its derivatives. It is one of the countries that dominates the world export of these economic items, and also has important exports of metals , although in smaller quantities than Australia.
Finally, you have a correlation with raw materials in the energy area. For historical reasons the CAD, which is not the largest oil producer in the world, but an important supplier to the largest consumer that is the US, has seen its currency oscillate in line with oil prices.
To make long-term investments in the Foreign Exchange Market, it is necessary to take into consideration at least one Commodity Correlation - FOREX in your fundamental analysis.

Forex Technical Analysis Reddit

The technical analysis is the methodology that interprets the movements of the price. Specialists look for liquidity to fund their business. The repetition of the strategies used by the specialists in their work generate repetitive patterns.
If you were an analyst, you would develop the visual ability to identify such patterns on a graph. If you were a programmer you would quantify them mathematically using complex formulas.
And if you could learn to interpret the Language of Price, you would have the ability to anticipate 90% of all movements that occur on a chart. And in this business, anticipating is what will make you money.
Market prices are reflected and framed on a horizontal time axis and a vertical price axis. Prices go up or down according to the aggressiveness of the participating operators. In an efficient or balanced market these oscillations should be imperceptible.
But in reality this is not the case, since the Market works thanks to the digital printing of hundreds of billions of units of paper money systematically distributed by the Central Banks through the banking system. These resources serve as a tool to manipulate 100% of the movements that occur in the FOREX Market.
Are you looking for Technical Indicators? All technical indicators were created from the 70's. How do you think that for more than 200 years the speculators of the past accumulated great wealth?
With the Language of Price. The best timing is given by the price itself. Indicator-generated entry signals usually occur at the wrong time.
The basis of technical analysis is human psychology. Unfortunately, human beings are not perfect and are loaded with emotions that dominate their behavior in similar situations, creating repetitive and highly predictable behavior when it occurs in masses.
The study of technical analysis through indicators and subjective training, originates and shapes the collective thinking on which all the traps that specialists execute every day to maintain their business are designed. If the majority won, the Market would cease to exist.
Although you already know that the patterns are not generated by the masses , but the repetitive behavior of the Specialists in the face of the action response of the masses. It is very easy for speculaists, because they can see everyone's orders in their books.
And they also exert a great influence on the decisions of the masses through the mass media. It is what I call the war between the Egg and the Stone , if you hit me you win and if I hit you also you win.

The Deception of Modern Technical Analysis

Through the centuries thousands of people have been able to extract great benefits from the financial markets by applying the basic strategies of technical analysis and the psychology of the Price Language.
More than 200 years ago when the markets began to operate officially, fundamental analysis predominated, which was only used by large financial institutions. As this analysis tool began to become popular, these institutions began to apply the strategies of technical analysis.
In recent decades and with the massification of internet technology, technical analysis has begun to be handled by anyone who has a computer with internet access. The same financial institutions, which have been present for more than a century and as a result of this overcrowding , establish a strategy to confuse and misinform about the true strategies of technical analysis.
This has been accomplished in the following manner. Currently there are hundreds, if not thousands of technical indicators that have been developed by so-called "gurus" of technical analysis and that sell their magic indicators packed in a "system" or "method" that usually cost thousands of dollars, or simply with the publication of a book with which they generate large profits. Double benefit.
The aim is to confuse the initiates in speculation and create the collective mentality that will originate the same behaviors over and over again. About 95% of these new entrants completely lose all the capital they invest in their early stages as investors.
Leaving them with a negative experience and creating the idea and the image that financial markets are an exclusive area for geniuses with high academic levels and that only they can produce returns in the markets year after year.
The initiate, having lost all his original capital, turns to these “gurus” for help and teachings. You spend more capital on the products they offer you and the cycle repeats itself . Obviously, the vast majority do not relapse and completely forget to re-engage in the stock markets.
I hope you have not been a victim of this drama.
Now I will show you the simplicity of a FOREX technical analysis , without the need to resort to any indicator as a tool to determine an effective entry or exit strategy when planning your operations.

The Price Cycle

Previously you studied in the FOREX strategies lesson, that the typical price cycle when it is reflected in a graph, presents four very specific phases and very easy to identify if you perform a technical analysis with common sense . These are:
  • Accumulation
  • Bullish trend
  • Distribution
  • Bearish trend
Remember also that the most effective way to constantly extract profits in the markets is by taking advantage of phases 2 and 4 (the trends). Combined with a correct reading of the collective behavior of the masses of speculators interpreting the Language of Price.
You will be surprised by the simplicity with which thousands of people around the world and over the centuries have accumulated large sums of money by drawing a few simple lines and applying responsible risk management with their capital.

How to Identify Trends?

Being able to determine the trend phases within the price cycle is the essence of technical analysis since it is these two phases that provide you with the probabilistic advantage you need to operate in the markets and obtain constant returns.
In the most plain and simple language, in the world of technical analysis, there are only two types of formations: trends and ranges.
The trends, in turn, can be bullish if they go up, or bearish if they go down. The ranges, on the other hand, can be accumulation if they are at the beginning of the cycle, or distribution if they are in the high part of the cycle. As I had indicated in the topic of FOREX strategies when describing the price cycle.
This sounds more like a play on words, but I will show you the practical definition to simplify your life and then you will apply these definitions on the graph so that everything makes more sense to you.
  • Bullish trend: a succession of major highs and major lows
  • Bearish trend: a succession of minor highs and minor lows
  • Floor Range: equal highs and varied lows
  • Ceiling Range: equal minimums and varied maximums
https://preview.redd.it/vvmsshf0guv51.png?width=600&format=png&auto=webp&s=c321679a7dcc03f7184778be86379ef442fddf91
Some key points from the graph:
  • The start of this big uptrend was detected when the last high (thick green line) of the previous downtrend was broken to the upside, ending the succession of lower highs, while exiting the lateral floor formation.
  • The succession of major lows in the uptrend (thin blue lines)
  • The succession of major highs in the uptrend (thin green lines)
  • The end of the uptrend was detected when the last low (thick blue line) of the uptrend was broken to the downside, ending the succession of higher lows, while exiting the lateral ceiling formation.
A tool that will help you sharpen your technical eye and identify trends on the chart is the Currency Scanner. This application is very effective and will provide you with a much-needed boost in your operations to identify reliable trends. At first, we are not sure how reliable a trend is. You will receive great help to find opportunities with the Currency Scanner .

The Common Sense, The Less Common of Senses

The central idea of ​​technical analysis consists in determining the price situation of a market, that is, in which phase of the pattern of its cycle it is currently conjugated with the collective thinking of the masses and the possible traps that the market would have prepared to remove. the capital at stake by the public.
To carry out a precise technical analysis, you will use the support and resistance lines, which can be static (horizontal) or dynamic (projecting an angle with respect to the horizontal axis).
Your common sense prevails here.
If you show a 10-year-old a chart, they will be able to tell you if the price is going up or down. You will most likely have no idea how to draw the lines, but you will be able to establish the general trend. Simply using your common sense.
By introducing indicators and other gadgets , the simplicity and effectiveness of the technical analysis created by your common sense evaporates.
The following graph conceptually shows you all the possible situations in which you could draw these lines to carry out your technical analysis of the place. You can clearly observe a downtrend delimited by its dynamic trend line and an uptrend on the right side with its respective dynamic delimitation.
https://preview.redd.it/5iehg0r6guv51.png?width=500&format=png&auto=webp&s=84c265a5d35da7ea970792c4bf40fe20b33bd8bd

Forex Charts Analysis

I want to remind you that the formations or patterns that develop on the charts (triangles, wedges, pennants, boxes, etc.) only work to execute trades that have initially been confirmed by the static support and resistance lines and to read the collective thinking of the masses.
Chart formations work, but you must know the Language of Price to determine when the Specialists will exploit a chartist figure, or when they will allow it to run. In fact, you will learn with the Language that you can operate a chart figure in any direction.
Much of the "mentalization" that the masses receive is to believe that the figures are made to be respected. Which is an inefficient way of working. Simply because you could wait days or months for a perfect chart figure to occur in order to perform a reliable trade. When in fact there are dozens every day.

Japanese Candles

Of all the tools you have to carry out technical analysis, perhaps the best known and most popular is the Japanese technique of candles (candlesticks).
Candles are mainly used to identify reversal points on the chart without resorting to confirmation of horizontal trend lines and only using a previous bar or candle breaks.
Its correct use is subject to a multi-time analysis (multiple temporalities) and a general evaluation of the context proposed by the market in general at the time of each scenario.
Later I will show you all the important details to take into account so that you use Japanese candles in a simple and very effective way.
Do not forget ... Trading in your beginnings based on formations (chartism) and candlestick patterns conjugated with hundreds of tools and technical indicators, constitutes the perfect path to your failure. Before using any strategy or technique I recommend you focus on learning the Price Language, which includes 3 basic things:
  • The Price: structure and dynamics
  • Market sentiment: relative strength, external shocks, etc.
  • Psychology: flexible mindset and risk acceptance
After you acquire this solid foundation, I guarantee that you will be able to trade any trading system that exists, any strategy, technique or chart figure in a profitable and consistent manner.
Specialists make money every day at the expense of the collective behavior caused by the use of these strategies and techniques. With which you will only manage to lose your capital and your time by putting the cart in front of the horse.
People who do the opposite, at best become,
... Philosophers of Speculation, or indocile Robot Assistants or Expert Advisors.
To make money in any market condition, range or trend, you must use the technical analysis based on the Price Language and combine it with a correct psychological reading of the price. This knowledge can only be acquired through proper education and lots of supervised practice. Like any other career in life.
I hope you've found this guide helpful!
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Forex Trading Basics Reddit - Forex Glossary Terms For Beginners

Forex Trading Basics Reddit - Forex Glossary Terms For Beginners

What is Forex - Terminology

https://preview.redd.it/pmjpy8sqh1x51.jpg?width=580&format=pjpg&auto=webp&s=b02715d6d6f153592a967f577c18578363ca731c
The FOREX market is the largest financial market in the world. On a daily basis, trillions of dollars are traded in different currencies around the world.
Being FOREX the basis for international capital transactions, its liquidity and volume are much greater than any other financial market. It is estimated that the average volume traded by the world's largest stock exchange, the New York Stock Exchange (NYSE) in a full month, is equal to the volume traded daily in the Forex currency market. In addition, it is estimated that this volume will increase by 25% annually.
80% of transactions are between the US dollar (USD), the euro (EUR), the yen (JPY), the British pound (GBP), the Swiss franc (CHF), and the Australian dollars (AUD) and Canadian (CAD).

What is traded in the Forex market?

We could just say that money. Trading in FOREX simultaneously involves buying one currency (for example euros) and selling another (for example US dollars). These simultaneous purchase and sale operations are carried out through online brokers. Operations are specified in pairs; for example the euro and the dollar (EUR / USD) or the pound sterling and the Yen (GBP / JPY).
These types of transactions can be somewhat confusing at first since nothing is being purchased physically. Basically, each currency is tied to the economy of its respective country and its value is a direct reflection of people's perception of that economy. For example, if there is a perception that the economy in Japan is going to weaken, the Yen is likely to be devalued against other currencies. In other words, people are going to sell Yen and they are going to buy currencies from countries where the economy is or will be better than Japan.
In general, the exchange of one currency for another reflects the condition of the health of the economy of that country with respect to the health of the economy of other countries.
Unlike other financial markets such as the stock market, the currency market does not have a fixed location like the largest exchanges in the world. These types of markets are known as OTC (Over The Counter). Transactions take place independently around the world, mainly over the Internet, and prices can vary from place to place.
Due to its decentralized nature, the foreign exchange market is operated 24 hours a day from Monday to Friday.
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Forex Trading Basics - Basic Forex Terminology

https://preview.redd.it/657dbjqvf1x51.jpg?width=421&format=pjpg&auto=webp&s=bd99eac3d8c68916078b089fc4af5ba14db289fc
As with any new skill that is learned, it is also necessary to learn its terminology. There are certain terms that you must know before you start trading Forex. Here are the main ones.

• Major and minor currencies

The 8 most widely used currencies (USD, EUR, JPY, GBP, CHF, CAD, NZD, and AUD) are known as “ major currencies ”. All other currencies are called " minor currencies ." You don't need to worry about minor currencies, as you probably won't start trading them for now. The USD, EUR, JPY, GBP, and CHF currencies are the most popular and most liquid currencies on the market.

• Base currency

The base currency is the first currency in any currency pair. It shows how much the base currency is worth against the second currency. For example, if the USD / CHF has a rate of 1.6350, it means that 1 USD is worth 1.6350 CHF. In the forex market, the US dollar is in many cases the base currency to make quotes, the quotes are expressed in units of $ 1 on the other currency of the pair.
In some other pairs, the base currency is the British pound, the euro, the Australian dollar, or the New Zealand dollar.

• Quoted currency

The quote currency is the second currency in the currency pair. This is often referred to as a "pip-currency" and any unrealized gains or losses are expressed in this currency.

• Pip

A pip is the smallest unit of the price of any currency. Almost all currencies consist of 5 significant digits and most pairs have the decimal point immediately after the first digit. For example EUR / USD = 1.2538, in this case, a pip is the smallest change in the fourth decimal space, which is, 0.0001.
A notable exception is the USD / JPY pair where the pip equals $ 0.01.

• Purchase price (bid)

The buying price (bid) is the price at which the market is ready to buy a specific currency in the Forex market. At this price, one can sell the base currency. The purchase price is displayed on the left side.
For example, in GBP / USD = 1.88112 / 15, the selling price is 1.8812. This means that you can sell a GPB for $ 1.8812.

• Sale Price (ask)

The asking price is the price at which the market is ready to sell a specific currency pair in the Forex market. At this price, you can buy the base currency. The sale price is displayed on the right-hand side.
For example, at EUR / USD = 1.2812 / 15, the selling price here is 1.2815. This means that you can buy one euro for $ 1.2815. The selling price is also called the bid price.

• Spread

All Forex quotes include two prices, the bid (offer) and the ask (demand).
The bid is the price at which the broker is willing to buy the base currency in exchange for the quoted currency. This means that the bid is the price at which you can sell.
The ask is the price at which the broker is willing to sell the base currency in exchange for the quoted currency. This means that the ask is the price at which you will buy. The difference between the bid and the ask is popularly known as the spread and is the consideration that the online broker receives for its services.

• Transaction costs

The transaction cost, which could be said to be the same as the Spread, is calculated as: Transaction Cost = Ask - Bid. It is the number of pips that are paid when opening a position. The final amount also depends on the size of the operation.
It is important to note that depending on the broker and the volatility, the difference between the ask and the bid can increase, making it more expensive to open a trade. This generally happens when there is a lot of volatility and little liquidity, as happens during the announcement of some relevant economic data.

• Cross currency

A cross-currency is any pair where one of the currencies is the US dollar (USD). These pairs show an erratic price behavior when the operator opens two operations in US dollars. For example, opening a long trade to buy EUR / GPB is equivalent to buying EUR / USD and selling GPB / USD. Cross-currency pairs generally carry a higher transaction cost.

• Margin

When you open a new account margin with a Forex broker, you must deposit a minimum amount of money to your broker. This minimum varies depending on each broker and can be as low as € / $ 100 at higher amounts.
Each time a new trade is executed a percentage of your account margin balance will be the initial margin required for a new trade based on the underlying currency pair, current price, and the number of units (or lots) of the trade. .
For example, let's say you open a mini account which gives you a leverage of 1: 200 or a margin of 0.5%. Mini accounts work with mini lots. Suppose a mini lot equals $ 10,000. If you are about to open a mini lot, instead of having to invest $ 10,000, you will only need $ 50 ($ 10,000 x 0.5% = $ 50).

• Leverage

Leverage is the ratio of the capital used in a transaction to the required deposit. It is the ability to control large amounts of dollars with relatively less capital. Leverage varies drastically depending on the broker, it can go from 1: 2 to even 1: 2000. The most common level of leverage in Forex can currently be around 1: 200.

• Margin + leverage = dangerous combination

Trading currencies on margin allows you to increase your buying power. This means that if you have $ 5,000 in account margin that allows you a 1: 100 leverage, you can then buy $ 500,000 in foreign exchange as you only have to invest a percentage of the purchase price. Another way of saying this is that you have $ 500,000 in purchasing power.
With more purchasing power you can greatly increase your potential profits without an outlay of cash. But be careful, working with a high margin increases your profits but also your losses if the trade does not progress in your favor.
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On this spark global limited platform, the goal of annual profit is 800%

Most traders we know have different life sequences, and everyone's trading time zone is also different. There are also some traders whose monthly interest rate is stable at 20-60%. (2010/now January)
In fact, for foreign exchange transactions to be profitable, the deep knowledge of professional operators is not important. You don't have to be a critic who can predict fluctuations.
I use this spark global limited platform to operate. The important thing is to establish my own trading style and continue to implement it on the basis of validating reasonable trading methods and strict investment plans and risk management.
Forex trading does not require theory and self-discipline. It is the result of hard work.
Target of 800% annual profit! !
How do you feel about this topic? Many people feel a lot. If the goal of 20% can be reached every month, this result is achievable. However, it is also true that there are fewer traders who can make stable profits every month than expected. In addition to the curse of 20% monthly interest rate, for most traders, it is also the status quo of [painting cakes to satisfy their hunger].
First of all, get rid of gambling thinking, keep the basics, and realize it with a relaxed investment plan. 200% profit for several months
Eye sales information. It is impossible for a continuously profitable trader to have such profitable results.
Foreign exchange transactions can effectively use the compound interest mechanism. With the increase of account funds, the number of open positions will increase according to plan.
Foreign exchange transactions are considered to be part of the use of funds, and it is possible to achieve the above-mentioned purposes in a planned daily trading operation. Institutional investors and large funds are not suitable for aggressive trading due to their large amount of funds, and their annual profits can only reach dozens of percentage points. Correspondingly, it can achieve hundreds of% of annual profits. This is also because individual investors have ‘small volume and strong liquidity’ and other proud and aggressive traders, who have become powerful weapons!
submitted by TemporaryHungry5991 to u/TemporaryHungry5991 [link] [comments]

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]

Summarizing some free trading idea resources I've been using

I've been following many free resources on youtube and twitter to generate trading ideas. Some of them are suspicious; some are more like boasting their wining trades but never post any losing trades. I see many people ask about trading ideas/resources, so I want to briefly share some resources I find useful.

Twitter resources:
  1. @ TicTocTick


  1. @ tradingwarz


  1. @ traderstewie


Youtube resources:
  1. Conquer trading and investing. https://www.youtube.com/channel/UCN2WmKUchJpIcS1MupY-BuA


  1. Blaze Capital: https://www.youtube.com/channel/UCq0BCGckWWjrnV8YdYO24JA
Other notes:
  1. The scalping trades in the morning is not very suitable for small accounts since they will trade for example 100 shares of BA (~160) to scalp a few dollars per share.
  2. Even though the stocks on their weekly watchlist does well very, one still need to come up with an actionable plan. Very often say they recommend stock A on Sunday, and on Monday it already gaps up big. They sometimes do YOLO options -- big risk big rewards-- options can go to 0.
  3. Besides the free content, everyone can get a free one-week trial for their paid membership, or a 2-week free trial by winning a lottery game on their youtube ( what I did) or knowing someone in their group and get a referral. What I like about the group: (i) very frequently updates each day on SPY and stocks on the watchlist. (ii) all their positions, Profit / Loss are very transparent. I learned a lot about how to manage trades by observing their live trades. (iii) There are many very experienced traders in the group posting their trading ideas, plans, entry/exit, and there are many live discussions. (iv) There's a "helpdesk" in the group where members' questions will be answered in minutes. I often ask about my trading plan, entries/ targets.




Other resources:
  1. Shadow trader free newsletter
https://www.shadowtrader.net/newsletter-category/swing-trade


I've spent much time looking for free contents, and I like the ones above. Also looking forward to hearing about other good/bad resources. I might also update this post if there are enough interests. NFA
submitted by Busy-Valuable to Daytrading [link] [comments]

CMV: Regarding new economic plan that would create an open system of accountability and without increasing the debt.

Currently there are 250,000 people in Las Vegas, NV that will not be able to pay their rent for September. Let's say a total of $125,000 million dollars would take care of their rent situation. I came up with that number by dividing $125,000 by $500. I know rents are higher. This is for illustrative purposes.
This is a very difficult time for just about everyone at the moment. We are looking for answers that we just don’t have. Now is the time to come together as a unit and take part in something bigger than it’s individual parts. I am talking about a new way of financial thinking that creates a win, win, win, situation. Renters make up forty percent of households and thirty eight percent of renters are estimated to be unemployed right now. Eviction notices could be mailed as soon as next month. This is a crisis that will affect the entire country. But there is something that we can do about it, but it takes all of our voices in unity to make it happen. This is a collective action that can be implemented immediately. Now is the time to go beyond thinking out of the box and thinking out of our universe.
Big banks and financial institutions were responsible for the 2007 housing collapse which devastated the entire world economy. In 2008, the Emergency Economic Stabilization Act was signed into law, creating a $700 billion program to purchase devalued assets from banks. This was called the Troubled Asset Relief Program, or TARP. Later, President Obama would direct $75 billion in funds from TARP to help reduce interest payments for homeowners. That means homeowners received around 10% of the direct relief that banks and corporations did, according to Business Insider. It’s now time for the financial institutions to do their share and make up for the last financial debacle.
The financial markets are experiencing all time highs and billionaires got $637 billion dollars richer in the last few months. Somethings definitely out of whack here and I will show you how we fix this. I said we, meaning the millions of people around the world with one voice helping to implement The One Cent More Plan. For any financial movement to be sustainable it must be transparent for all to see where the money is being used and not exploited by a few. That’s why no one organization is responsible for the money involved and each transaction is in the block-chain ledger for all to see at anytime.
This is how it works for renters, landlords and the banks. For the purpose of this example let’s use Cindy as a renter who lives in Las Vegas and lost her job and can’t pay next months rent. She has notified her landlord and he is trying to be as courteous as possible, but he also has a mortgage to pay on his apartment building which has ten units. Some of the other tenants have lost their jobs as well. As you can see this is a common occurrence in Las Vegas at the moment. This is where the bank steps in as the lovable George Bailey types which they will become. I know what you are thinking. Their more like Mr. Potter than George in it’s a Wonderful Life. But you will soon see that it’s in their best interest to be more like George in the long run. If you haven’t seen the movie, I suggest you do. It’s one of my favorites.
I will start with the New York Stock Exchange. The average daily volume for the last three months was 1,123,989,426 shares which equates to a staggering 22,479,788,520 shares per month. What if for each share an additional fee of one cent were added. This would result in $11,239,894.26 dollars per day going into the The One Cent More Plan Fund. You know at the end of each day the total amount that the fund should have simply by looking at the end of day total volume for the market. Multiply that by the number of trading days in the month and it equals 224,797,885.20 dollars. This is just one market. Now let’s say Cindy is a beneficiary of The One Cent More Plan Fund which is setup for the sole purpose of assisting with rent for those who can’t pay. Her rent was 750 dollars she would receive 500 dollars for rent and nothing out of her pocket. But Cindy wouldn’t get a direct payment. She would receive a receipt contract from her bank with a block-chain transaction number which she can look up on the internet to verify that it had been paid. Her landlord would also receive from his bank a receipt contract only because he owes the bank his mortgage payment. If he had no mortgage the payment would go directly to him. His payment would also be on the block-chain. So, Cindy’s rent is paid for the month of September. Her landlord is happy although he doesn’t get his normal amount of 750 dollars, it’s still better than having to go through the hassle of evicting a good tenant and ending up with no rent at all!! And the landlords bank is happy that the mortgage is being paid.
Here is the Ethereum Blockchain Ledger
So how much would it cost to do the same for the other people who can’t pay their rent. This is just one example with one market. As you can see there are no real losers in this equation. A one cent transaction fee on every stock sold is not a lot to fight over. Once Cindy finds a job she would not receive the entire $500 for rent only $300. The remaining $200 would stay in the fund to sustain it. And by the way this is a temporary transaction fee until more people get back to work and the economy starts to recover. It is estimated that $21 trillion dollars is hidden in offshore accounts by the wealthy. Companies in the United States have an estimated $2.1 trillion. If companies just brought back that money and donated the interest alone from it this would have a huge impact on the economy and not increase the national debt at all! When you don’t have customers with money to buy your product it will really begin to feel like 1929 again in a hurry. This could snowball quickly. We don’t have time for negotiations over a stimulus package. Big banks and corporations could really turn their image around and be the true heroes if they wanted to be. The money is there folks we just have to make them accountable with our voices. We have seen how social change can happen all around the world. Let’s not miss this opportunity today right now. I haven’t even spoken about the largest market in the world and that is Forex. If we just took a small portion each day from the six trillion that is traded each day it would help us stop evictions around the world and give people hope.
Banks are already using block-chain technology as we speak. This doesn’t require building brand new infrastructure. As I just showed you this can be done with existing bank accounts. Payments can be made in seconds. I can send my sister money through Zelle in minutes. Their should be no lag time as to when payments can be made. So who is going to foot the bill for making this happen. The banks of course and without any transaction fee whatsoever.
I look forward to all your comments and suggestions with an open mind.

Thanks,,
chronus80
submitted by chronus80 to changemyview [link] [comments]

What is Forex?

What is Forex?
Forex, also identified as foreign exchange, FX or currency trading, is a decentralized global market where the entire world's currencies trade. The forex market is the biggest, liquid market in the world with an average daily trading volume beyond $5 trillion. Not all the world’s combined stock markets even come close to this. However, what does that mean to you? Take a closer look at forex trading and you may find some exciting trading opportunities unavailable with other investments.
Forex transaction: it is all in the exchange
If you have ever toured overseas, you have made a forex transaction. Take a trip to Belgium and you convert your British pounds into Euros. When you do this, the forex exchange rate between the two currencies—based on supply and demand—determines how many euros you get for your British pounds. Moreover, the exchange rate varies endlessly.
A single British pound on Monday could get you 1.19 euros. On Tuesday, 1.20 euros. This tiny change may not seem like a big deal. However, think of it on a bigger scale. A big international company may need to pay overseas employees, Imagine what that could do to the bottom line if, like in the example above, simply exchanging one currency for another costs you more depending on when you do it? These few pennies add up quickly. In both cases, you—as a tourist, traveler or a business owner—may want to hold your money until the forex exchange rate is more favorable.
Example of Forex Company: Spark Global Limited
What is Spark Global LTD?
Spark Global LTD known as SGL is Global Broker is a foreign exchange community that uses the Meta Trader 5 system to provide investors with copy order trading services. The platform integrates transaction data and connects to multiple exchanges, improves distributed CRM through liquidity and execution speed, provides technical support for transaction models, meets various business needs of customers, and allows investors to obtain DIY finance Digital analysis trading solutions. It has competitive spreads, which helps customers reduce transaction costs. This makes Spark Global Limited a platform that investors can trust. As a global veteran in foreign exchange, Spark Global Limited is very strong and has a relatively high brand value. It is an international veteran foreign exchange dealer and an old brand with more than ten years of history. This makes Spark Global Limited a platform that investors can trust. For more details you can follow their official facebook) or visit their official website or text them on [[email protected]](mailto:[email protected],)
submitted by samysgl to u/samysgl [link] [comments]

Everything You Always Wanted To Know About Swaps* (*But Were Afraid To Ask)

Hello, dummies
It's your old pal, Fuzzy.
As I'm sure you've all noticed, a lot of the stuff that gets posted here is - to put it delicately - fucking ridiculous. More backwards-ass shit gets posted to wallstreetbets than you'd see on a Westboro Baptist community message board. I mean, I had a look at the daily thread yesterday and..... yeesh. I know, I know. We all make like the divine Laura Dern circa 1992 on the daily and stick our hands deep into this steaming heap of shit to find the nuggets of valuable and/or hilarious information within (thanks for reading, BTW). I agree. I love it just the way it is too. That's what makes WSB great.
What I'm getting at is that a lot of the stuff that gets posted here - notwithstanding it being funny or interesting - is just... wrong. Like, fucking your cousin wrong. And to be clear, I mean the fucking your *first* cousin kinda wrong, before my Southerners in the back get all het up (simmer down, Billy Ray - I know Mabel's twice removed on your grand-sister's side). Truly, I try to let it slide. I do my bit to try and put you on the right path. Most of the time, I sleep easy no matter how badly I've seen someone explain what a bank liquidity crisis is. But out of all of those tens of thousands of misguided, autistic attempts at understanding the world of high finance, one thing gets so consistently - so *emphatically* - fucked up and misunderstood by you retards that last night I felt obligated at the end of a long work day to pull together this edition of Finance with Fuzzy just for you. It's so serious I'm not even going to make a u/pokimane gag. Have you guessed what it is yet? Here's a clue. It's in the title of the post.
That's right, friends. Today in the neighborhood we're going to talk all about hedging in financial markets - spots, swaps, collars, forwards, CDS, synthetic CDOs, all that fun shit. Don't worry; I'm going to explain what all the scary words mean and how they impact your OTM RH positions along the way.
We're going to break it down like this. (1) "What's a hedge, Fuzzy?" (2) Common Hedging Strategies and (3) All About ISDAs and Credit Default Swaps.
Before we begin. For the nerds and JV traders in the back (and anyone else who needs to hear this up front) - I am simplifying these descriptions for the purposes of this post. I am also obviously not going to try and cover every exotic form of hedge under the sun or give a detailed summation of what caused the financial crisis. If you are interested in something specific ask a question, but don't try and impress me with your Investopedia skills or technical points I didn't cover; I will just be forced to flex my years of IRL experience on you in the comments and you'll look like a big dummy.
TL;DR? Fuck you. There is no TL;DR. You've come this far already. What's a few more paragraphs? Put down the Cheetos and try to concentrate for the next 5-7 minutes. You'll learn something, and I promise I'll be gentle.
Ready? Let's get started.
1. The Tao of Risk: Hedging as a Way of Life
The simplest way to characterize what a hedge 'is' is to imagine every action having a binary outcome. One is bad, one is good. Red lines, green lines; uppie, downie. With me so far? Good. A 'hedge' is simply the employment of a strategy to mitigate the effect of your action having the wrong binary outcome. You wanted X, but you got Z! Frowny face. A hedge strategy introduces a third outcome. If you hedged against the possibility of Z happening, then you can wind up with Y instead. Not as good as X, but not as bad as Z. The technical definition I like to give my idiot juniors is as follows:
Utilization of a defensive strategy to mitigate risk, at a fraction of the cost to capital of the risk itself.
Congratulations. You just finished Hedging 101. "But Fuzzy, that's easy! I just sold a naked call against my 95% OTM put! I'm adequately hedged!". Spoiler alert: you're not (although good work on executing a collar, which I describe below). What I'm talking about here is what would be referred to as a 'perfect hedge'; a binary outcome where downside is totally mitigated by a risk management strategy. That's not how it works IRL. Pay attention; this is the tricky part.
You can't take a single position and conclude that you're adequately hedged because risks are fluid, not static. So you need to constantly adjust your position in order to maximize the value of the hedge and insure your position. You also need to consider exposure to more than one category of risk. There are micro (specific exposure) risks, and macro (trend exposure) risks, and both need to factor into the hedge calculus.
That's why, in the real world, the value of hedging depends entirely on the design of the hedging strategy itself. Here, when we say "value" of the hedge, we're not talking about cash money - we're talking about the intrinsic value of the hedge relative to the the risk profile of your underlying exposure. To achieve this, people hedge dynamically. In wallstreetbets terms, this means that as the value of your position changes, you need to change your hedges too. The idea is to efficiently and continuously distribute and rebalance risk across different states and periods, taking value from states in which the marginal cost of the hedge is low and putting it back into states where marginal cost of the hedge is high, until the shadow value of your underlying exposure is equalized across your positions. The punchline, I guess, is that one static position is a hedge in the same way that the finger paintings you make for your wife's boyfriend are art - it's technically correct, but you're only playing yourself by believing it.
Anyway. Obviously doing this as a small potatoes trader is hard but it's worth taking into account. Enough basic shit. So how does this work in markets?
2. A Hedging Taxonomy
The best place to start here is a practical question. What does a business need to hedge against? Think about the specific risk that an individual business faces. These are legion, so I'm just going to list a few of the key ones that apply to most corporates. (1) You have commodity risk for the shit you buy or the shit you use. (2) You have currency risk for the money you borrow. (3) You have rate risk on the debt you carry. (4) You have offtake risk for the shit you sell. Complicated, right? To help address the many and varied ways that shit can go wrong in a sophisticated market, smart operators like yours truly have devised a whole bundle of different instruments which can help you manage the risk. I might write about some of the more complicated ones in a later post if people are interested (CDO/CLOs, strip/stack hedges and bond swaps with option toggles come to mind) but let's stick to the basics for now.
(i) Swaps
A swap is one of the most common forms of hedge instrument, and they're used by pretty much everyone that can afford them. The language is complicated but the concept isn't, so pay attention and you'll be fine. This is the most important part of this section so it'll be the longest one.
Swaps are derivative contracts with two counterparties (before you ask, you can't trade 'em on an exchange - they're OTC instruments only). They're used to exchange one cash flow for another cash flow of equal expected value; doing this allows you to take speculative positions on certain financial prices or to alter the cash flows of existing assets or liabilities within a business. "Wait, Fuzz; slow down! What do you mean sets of cash flows?". Fear not, little autist. Ol' Fuzz has you covered.
The cash flows I'm talking about are referred to in swap-land as 'legs'. One leg is fixed - a set payment that's the same every time it gets paid - and the other is variable - it fluctuates (typically indexed off the price of the underlying risk that you are speculating on / protecting against). You set it up at the start so that they're notionally equal and the two legs net off; so at open, the swap is a zero NPV instrument. Here's where the fun starts. If the price that you based the variable leg of the swap on changes, the value of the swap will shift; the party on the wrong side of the move ponies up via the variable payment. It's a zero sum game.
I'll give you an example using the most vanilla swap around; an interest rate trade. Here's how it works. You borrow money from a bank, and they charge you a rate of interest. You lock the rate up front, because you're smart like that. But then - quelle surprise! - the rate gets better after you borrow. Now you're bagholding to the tune of, I don't know, 5 bps. Doesn't sound like much but on a billion dollar loan that's a lot of money (a classic example of the kind of 'small, deep hole' that's terrible for profits). Now, if you had a swap contract on the rate before you entered the trade, you're set; if the rate goes down, you get a payment under the swap. If it goes up, whatever payment you're making to the bank is netted off by the fact that you're borrowing at a sub-market rate. Win-win! Or, at least, Lose Less / Lose Less. That's the name of the game in hedging.
There are many different kinds of swaps, some of which are pretty exotic; but they're all different variations on the same theme. If your business has exposure to something which fluctuates in price, you trade swaps to hedge against the fluctuation. The valuation of swaps is also super interesting but I guarantee you that 99% of you won't understand it so I'm not going to try and explain it here although I encourage you to google it if you're interested.
Because they're OTC, none of them are filed publicly. Someeeeeetimes you see an ISDA (dsicussed below) but the confirms themselves (the individual swaps) are not filed. You can usually read about the hedging strategy in a 10-K, though. For what it's worth, most modern credit agreements ban speculative hedging. Top tip: This is occasionally something worth checking in credit agreements when you invest in businesses that are debt issuers - being able to do this increases the risk profile significantly and is particularly important in times of economic volatility (ctrl+f "non-speculative" in the credit agreement to be sure).
(ii) Forwards
A forward is a contract made today for the future delivery of an asset at a pre-agreed price. That's it. "But Fuzzy! That sounds just like a futures contract!". I know. Confusing, right? Just like a futures trade, forwards are generally used in commodity or forex land to protect against price fluctuations. The differences between forwards and futures are small but significant. I'm not going to go into super boring detail because I don't think many of you are commodities traders but it is still an important thing to understand even if you're just an RH jockey, so stick with me.
Just like swaps, forwards are OTC contracts - they're not publicly traded. This is distinct from futures, which are traded on exchanges (see The Ballad Of Big Dick Vick for some more color on this). In a forward, no money changes hands until the maturity date of the contract when delivery and receipt are carried out; price and quantity are locked in from day 1. As you now know having read about BDV, futures are marked to market daily, and normally people close them out with synthetic settlement using an inverse position. They're also liquid, and that makes them easier to unwind or close out in case shit goes sideways.
People use forwards when they absolutely have to get rid of the thing they made (or take delivery of the thing they need). If you're a miner, or a farmer, you use this shit to make sure that at the end of the production cycle, you can get rid of the shit you made (and you won't get fucked by someone taking cash settlement over delivery). If you're a buyer, you use them to guarantee that you'll get whatever the shit is that you'll need at a price agreed in advance. Because they're OTC, you can also exactly tailor them to the requirements of your particular circumstances.
These contracts are incredibly byzantine (and there are even crazier synthetic forwards you can see in money markets for the true degenerate fund managers). In my experience, only Texan oilfield magnates, commodities traders, and the weirdo forex crowd fuck with them. I (i) do not own a 10 gallon hat or a novelty size belt buckle (ii) do not wake up in the middle of the night freaking out about the price of pork fat and (iii) love greenbacks too much to care about other countries' monopoly money, so I don't fuck with them.
(iii) Collars
No, not the kind your wife is encouraging you to wear try out to 'spice things up' in the bedroom during quarantine. Collars are actually the hedging strategy most applicable to WSB. Collars deal with options! Hooray!
To execute a basic collar (also called a wrapper by tea-drinking Brits and people from the Antipodes), you buy an out of the money put while simultaneously writing a covered call on the same equity. The put protects your position against price drops and writing the call produces income that offsets the put premium. Doing this limits your tendies (you can only profit up to the strike price of the call) but also writes down your risk. If you screen large volume trades with a VOL/OI of more than 3 or 4x (and they're not bullshit biotech stocks), you can sometimes see these being constructed in real time as hedge funds protect themselves on their shorts.
(3) All About ISDAs, CDS and Synthetic CDOs
You may have heard about the mythical ISDA. Much like an indenture (discussed in my post on $F), it's a magic legal machine that lets you build swaps via trade confirms with a willing counterparty. They are very complicated legal documents and you need to be a true expert to fuck with them. Fortunately, I am, so I do. They're made of two parts; a Master (which is a form agreement that's always the same) and a Schedule (which amends the Master to include your specific terms). They are also the engine behind just about every major credit crunch of the last 10+ years.
First - a brief explainer. An ISDA is a not in and of itself a hedge - it's an umbrella contract that governs the terms of your swaps, which you use to construct your hedge position. You can trade commodities, forex, rates, whatever, all under the same ISDA.
Let me explain. Remember when we talked about swaps? Right. So. You can trade swaps on just about anything. In the late 90s and early 2000s, people had the smart idea of using other people's debt and or credit ratings as the variable leg of swap documentation. These are called credit default swaps. I was actually starting out at a bank during this time and, I gotta tell you, the only thing I can compare people's enthusiasm for this shit to was that moment in your early teens when you discover jerking off. Except, unlike your bathroom bound shame sessions to Mom's Sears catalogue, every single person you know felt that way too; and they're all doing it at once. It was a fiscal circlejerk of epic proportions, and the financial crisis was the inevitable bukkake finish. WSB autism is absolutely no comparison for the enthusiasm people had during this time for lighting each other's money on fire.
Here's how it works. You pick a company. Any company. Maybe even your own! And then you write a swap. In the swap, you define "Credit Event" with respect to that company's debt as the variable leg . And you write in... whatever you want. A ratings downgrade, default under the docs, failure to meet a leverage ratio or FCCR for a certain testing period... whatever. Now, this started out as a hedge position, just like we discussed above. The purest of intentions, of course. But then people realized - if bad shit happens, you make money. And banks... don't like calling in loans or forcing bankruptcies. Can you smell what the moral hazard is cooking?
Enter synthetic CDOs. CDOs are basically pools of asset backed securities that invest in debt (loans or bonds). They've been around for a minute but they got famous in the 2000s because a shitload of them containing subprime mortgage debt went belly up in 2008. This got a lot of publicity because a lot of sad looking rednecks got foreclosed on and were interviewed on CNBC. "OH!", the people cried. "Look at those big bad bankers buying up subprime loans! They caused this!". Wrong answer, America. The debt wasn't the problem. What a lot of people don't realize is that the real meat of the problem was not in regular way CDOs investing in bundles of shit mortgage debts in synthetic CDOs investing in CDS predicated on that debt. They're synthetic because they don't have a stake in the actual underlying debt; just the instruments riding on the coattails. The reason these are so popular (and remain so) is that smart structured attorneys and bankers like your faithful correspondent realized that an even more profitable and efficient way of building high yield products with limited downside was investing in instruments that profit from failure of debt and in instruments that rely on that debt and then hedging that exposure with other CDS instruments in paired trades, and on and on up the chain. The problem with doing this was that everyone wound up exposed to everybody else's books as a result, and when one went tits up, everybody did. Hence, recession, Basel III, etc. Thanks, Obama.
Heavy investment in CDS can also have a warping effect on the price of debt (something else that happened during the pre-financial crisis years and is starting to happen again now). This happens in three different ways. (1) Investors who previously were long on the debt hedge their position by selling CDS protection on the underlying, putting downward pressure on the debt price. (2) Investors who previously shorted the debt switch to buying CDS protection because the relatively illiquid debt (partic. when its a bond) trades at a discount below par compared to the CDS. The resulting reduction in short selling puts upward pressure on the bond price. (3) The delta in price and actual value of the debt tempts some investors to become NBTs (neg basis traders) who long the debt and purchase CDS protection. If traders can't take leverage, nothing happens to the price of the debt. If basis traders can take leverage (which is nearly always the case because they're holding a hedged position), they can push up or depress the debt price, goosing swap premiums etc. Anyway. Enough technical details.
I could keep going. This is a fascinating topic that is very poorly understood and explained, mainly because the people that caused it all still work on the street and use the same tactics today (it's also terribly taught at business schools because none of the teachers were actually around to see how this played out live). But it relates to the topic of today's lesson, so I thought I'd include it here.
Work depending, I'll be back next week with a covenant breakdown. Most upvoted ticker gets the post.
*EDIT 1\* In a total blowout, $PLAY won. So it's D&B time next week. Post will drop Monday at market open.
submitted by fuzzyblankeet to wallstreetbets [link] [comments]

YOUengine

BitForex is a centralized exchange. It supports more than 137 coins and 223 trading pairs. BitForex's daily trade volume is about 200k BTC. The exchange has been launched in the year 2018. BitForex provides its users with two great features: Social Trading Platform and MT5. The last one allows users to trade CFDs on cryptocurrencies, commodities, indexes, and forex currencies. Be part of a good project is a pride that can not be phrased, happy to do something for this project, and will be successful always, because it is supported by a good team and will develop This project deserves your attention.
submitted by saimbro23 to YOUengineFANs [link] [comments]

The Next Crypto Wave: The Rise of Stablecoins and its Entry to the U.S. Dollar Market

The Next Crypto Wave: The Rise of Stablecoins and its Entry to the U.S. Dollar Market

Author: Christian Hsieh, CEO of Tokenomy
This paper examines some explanations for the continual global market demand for the U.S. dollar, the rise of stablecoins, and the utility and opportunities that crypto dollars can offer to both the cryptocurrency and traditional markets.
The U.S. dollar, dominant in world trade since the establishment of the 1944 Bretton Woods System, is unequivocally the world’s most demanded reserve currency. Today, more than 61% of foreign bank reserves and nearly 40% of the entire world’s debt is denominated in U.S. dollars1.
However, there is a massive supply and demand imbalance in the U.S. dollar market. On the supply side, central banks throughout the world have implemented more than a decade-long accommodative monetary policy since the 2008 global financial crisis. The COVID-19 pandemic further exacerbated the need for central banks to provide necessary liquidity and keep staggering economies moving. While the Federal Reserve leads the effort of “money printing” and stimulus programs, the current money supply still cannot meet the constant high demand for the U.S. dollar2. Let us review some of the reasons for this constant dollar demand from a few economic fundamentals.

Demand for U.S. Dollars

Firstly, most of the world’s trade is denominated in U.S. dollars. Chief Economist of the IMF, Gita Gopinath, has compiled data reflecting that the U.S. dollar’s share of invoicing was 4.7 times larger than America’s share of the value of imports, and 3.1 times its share of world exports3. The U.S. dollar is the dominant “invoicing currency” in most developing countries4.

https://preview.redd.it/d4xalwdyz8p51.png?width=535&format=png&auto=webp&s=9f0556c6aa6b29016c9b135f3279e8337dfee2a6

https://preview.redd.it/wucg40kzz8p51.png?width=653&format=png&auto=webp&s=71257fec29b43e0fc0df1bf04363717e3b52478f
This U.S. dollar preference also directly impacts the world’s debt. According to the Bank of International Settlements, there is over $67 trillion in U.S. dollar denominated debt globally, and borrowing outside of the U.S. accounted for $12.5 trillion in Q1 20205. There is an immense demand for U.S. dollars every year just to service these dollar debts. The annual U.S. dollar buying demand is easily over $1 trillion assuming the borrowing cost is at 1.5% (1 year LIBOR + 1%) per year, a conservative estimate.

https://preview.redd.it/6956j6f109p51.png?width=487&format=png&auto=webp&s=ccea257a4e9524c11df25737cac961308b542b69
Secondly, since the U.S. has a much stronger economy compared to its global peers, a higher return on investments draws U.S. dollar demand from everywhere in the world, to invest in companies both in the public and private markets. The U.S. hosts the largest stock markets in the world with more than $33 trillion in public market capitalization (combined both NYSE and NASDAQ)6. For the private market, North America’s total share is well over 60% of the $6.5 trillion global assets under management across private equity, real assets, and private debt investments7. The demand for higher quality investments extends to the fixed income market as well. As countries like Japan and Switzerland currently have negative-yielding interest rates8, fixed income investors’ quest for yield in the developed economies leads them back to the U.S. debt market. As of July 2020, there are $15 trillion worth of negative-yielding debt securities globally (see chart). In comparison, the positive, low-yielding U.S. debt remains a sound fixed income strategy for conservative investors in uncertain market conditions.

Source: Bloomberg
Last, but not least, there are many developing economies experiencing failing monetary policies, where hyperinflation has become a real national disaster. A classic example is Venezuela, where the currency Bolivar became practically worthless as the inflation rate skyrocketed to 10,000,000% in 20199. The recent Beirut port explosion in Lebanon caused a sudden economic meltdown and compounded its already troubled financial market, where inflation has soared to over 112% year on year10. For citizens living in unstable regions such as these, the only reliable store of value is the U.S. dollar. According to the Chainalysis 2020 Geography of Cryptocurrency Report, Venezuela has become one of the most active cryptocurrency trading countries11. The demand for cryptocurrency surges as a flight to safety mentality drives Venezuelans to acquire U.S. dollars to preserve savings that they might otherwise lose. The growth for cryptocurrency activities in those regions is fueled by these desperate citizens using cryptocurrencies as rails to access the U.S. dollar, on top of acquiring actual Bitcoin or other underlying crypto assets.

The Rise of Crypto Dollars

Due to the highly volatile nature of cryptocurrencies, USD stablecoin, a crypto-powered blockchain token that pegs its value to the U.S. dollar, was introduced to provide stable dollar exposure in the crypto trading sphere. Tether is the first of its kind. Issued in 2014 on the bitcoin blockchain (Omni layer protocol), under the token symbol USDT, it attempts to provide crypto traders with a stable settlement currency while they trade in and out of various crypto assets. The reason behind the stablecoin creation was to address the inefficient and burdensome aspects of having to move fiat U.S. dollars between the legacy banking system and crypto exchanges. Because one USDT is theoretically backed by one U.S. dollar, traders can use USDT to trade and settle to fiat dollars. It was not until 2017 that the majority of traders seemed to realize Tether’s intended utility and started using it widely. As of April 2019, USDT trading volume started exceeding the trading volume of bitcoina12, and it now dominates the crypto trading sphere with over $50 billion average daily trading volume13.

https://preview.redd.it/3vq7v1jg09p51.png?width=700&format=png&auto=webp&s=46f11b5f5245a8c335ccc60432873e9bad2eb1e1
An interesting aspect of USDT is that although the claimed 1:1 backing with U.S. dollar collateral is in question, and the Tether company is in reality running fractional reserves through a loose offshore corporate structure, Tether’s trading volume and adoption continues to grow rapidly14. Perhaps in comparison to fiat U.S. dollars, which is not really backed by anything, Tether still has cash equivalents in reserves and crypto traders favor its liquidity and convenience over its lack of legitimacy. For those who are concerned about Tether’s solvency, they can now purchase credit default swaps for downside protection15. On the other hand, USDC, the more compliant contender, takes a distant second spot with total coin circulation of $1.8 billion, versus USDT at $14.5 billion (at the time of publication). It is still too early to tell who is the ultimate leader in the stablecoin arena, as more and more stablecoins are launching to offer various functions and supporting mechanisms. There are three main categories of stablecoin: fiat-backed, crypto-collateralized, and non-collateralized algorithm based stablecoins. Most of these are still at an experimental phase, and readers can learn more about them here. With the continuous innovation of stablecoin development, the utility stablecoins provide in the overall crypto market will become more apparent.

Institutional Developments

In addition to trade settlement, stablecoins can be applied in many other areas. Cross-border payments and remittances is an inefficient market that desperately needs innovation. In 2020, the average cost of sending money across the world is around 7%16, and it takes days to settle. The World Bank aims to reduce remittance fees to 3% by 2030. With the implementation of blockchain technology, this cost could be further reduced close to zero.
J.P. Morgan, the largest bank in the U.S., has created an Interbank Information Network (IIN) with 416 global Institutions to transform the speed of payment flows through its own JPM Coin, another type of crypto dollar17. Although people argue that JPM Coin is not considered a cryptocurrency as it cannot trade openly on a public blockchain, it is by far the largest scale experiment with all the institutional participants trading within the “permissioned” blockchain. It might be more accurate to refer to it as the use of distributed ledger technology (DLT) instead of “blockchain” in this context. Nevertheless, we should keep in mind that as J.P. Morgan currently moves $6 trillion U.S. dollars per day18, the scale of this experiment would create a considerable impact in the international payment and remittance market if it were successful. Potentially the day will come when regulated crypto exchanges become participants of IIN, and the link between public and private crypto assets can be instantly connected, unlocking greater possibilities in blockchain applications.
Many central banks are also in talks about developing their own central bank digital currency (CBDC). Although this idea was not new, the discussion was brought to the forefront due to Facebook’s aggressive Libra project announcement in June 2019 and the public attention that followed. As of July 2020, at least 36 central banks have published some sort of CBDC framework. While each nation has a slightly different motivation behind its currency digitization initiative, ranging from payment safety, transaction efficiency, easy monetary implementation, or financial inclusion, these central banks are committed to deploying a new digital payment infrastructure. When it comes to the technical architectures, research from BIS indicates that most of the current proofs-of-concept tend to be based upon distributed ledger technology (permissioned blockchain)19.

https://preview.redd.it/lgb1f2rw19p51.png?width=700&format=png&auto=webp&s=040bb0deed0499df6bf08a072fd7c4a442a826a0
These institutional experiments are laying an essential foundation for an improved global payment infrastructure, where instant and frictionless cross-border settlements can take place with minimal costs. Of course, the interoperability of private DLT tokens and public blockchain stablecoins has yet to be explored, but the innovation with both public and private blockchain efforts could eventually merge. This was highlighted recently by the Governor of the Bank of England who stated that “stablecoins and CBDC could sit alongside each other20”. One thing for certain is that crypto dollars (or other fiat-linked digital currencies) are going to play a significant role in our future economy.

Future Opportunities

There is never a dull moment in the crypto sector. The industry narratives constantly shift as innovation continues to evolve. Twelve years since its inception, Bitcoin has evolved from an abstract subject to a familiar concept. Its role as a secured, scarce, decentralized digital store of value has continued to gain acceptance, and it is well on its way to becoming an investable asset class as a portfolio hedge against asset price inflation and fiat currency depreciation. Stablecoins have proven to be useful as proxy dollars in the crypto world, similar to how dollars are essential in the traditional world. It is only a matter of time before stablecoins or private digital tokens dominate the cross-border payments and global remittances industry.
There are no shortages of hypes and experiments that draw new participants into the crypto space, such as smart contracts, new blockchains, ICOs, tokenization of things, or the most recent trends on DeFi tokens. These projects highlight the possibilities for a much more robust digital future, but the market also needs time to test and adopt. A reliable digital payment infrastructure must be built first in order to allow these experiments to flourish.
In this paper we examined the historical background and economic reasons for the U.S. dollar’s dominance in the world, and the probable conclusion is that the demand for U.S. dollars will likely continue, especially in the middle of a global pandemic, accompanied by a worldwide economic slowdown. The current monetary system is far from perfect, but there are no better alternatives for replacement at least in the near term. Incremental improvements are being made in both the public and private sectors, and stablecoins have a definite role to play in both the traditional and the new crypto world.
Thank you.

Reference:
[1] How the US dollar became the world’s reserve currency, Investopedia
[2] The dollar is in high demand, prone to dangerous appreciation, The Economist
[3] Dollar dominance in trade and finance, Gita Gopinath
[4] Global trades dependence on dollars, The Economist & IMF working papers
[5] Total credit to non-bank borrowers by currency of denomination, BIS
[6] Biggest stock exchanges in the world, Business Insider
[7] McKinsey Global Private Market Review 2020, McKinsey & Company
[8] Central banks current interest rates, Global Rates
[9] Venezuela hyperinflation hits 10 million percent, CNBC
[10] Lebanon inflation crisis, Reuters
[11] Venezuela cryptocurrency market, Chainalysis
[12] The most used cryptocurrency isn’t Bitcoin, Bloomberg
[13] Trading volume of all crypto assets, coinmarketcap.com
[14] Tether US dollar peg is no longer credible, Forbes
[15] New crypto derivatives let you bet on (or against) Tether’s solvency, Coindesk
[16] Remittance Price Worldwide, The World Bank
[17] Interbank Information Network, J.P. Morgan
[18] Jamie Dimon interview, CBS News
[19] Rise of the central bank digital currency, BIS
[20] Speech by Andrew Bailey, 3 September 2020, Bank of England
submitted by Tokenomy to tokenomyofficial [link] [comments]

Anfänger entdeckt Volumen Trading - Dann geschah das Unfassbare (Forex Daytrading Live) Volume Price Analysis Forex Trading - Easiest Strategy ... Finding Volume In The Forex Market Before It Happens! How to Day Trade Using Volume  Tradingsim.com - YouTube Volume Indicator Trading Part 1 - YouTube Day Trading with Volume Profile Analysis - YouTube

Overall FX trading volume rose from $5.1 trillion to $6.6 trillion per day — a 30% growth in 3 years. Most of the growth happened in non-spot (derivative) transactions; spot market’s share fell from 33% to 30%. The share of trading done with non-financial customers (retail Forex brokers and traders go into this category) fell from 7.5% to 7.2% across all instruments, but gained from 7.1% ... Forex daily volume indicator forecasts a signal arrow to price reversal points. This is a non-repaint indicator. But the arrow doesn’t say definitely price may be reversed. We must filter that signal with our analysis. This system can use any time frame, any currency pairs. This volume system good for This overshadowed a 20 percent increase in spot trading, for which the average daily volume climbed by $325 billion to $1.98 trillion between 2016 and 2019. As such, the share of spot trades in global FX activity fell to 30 percent in 2019, down from 33 percent in 2016. By contrast, FX swaps continued to gain in market share, accounting for 49 percent of total FX market turnover in April 2019 ... What Trading Volume Can Tell Us. Alright, if you don't know anything about volume, then let's take a look at how trading volume in stocks works first, because it is a smaller market and it is easier to explain the concepts. Even though this is not about Forex trading, it will give you a lot of context for the Forex market, later in this post. In 2019, the global foreign exchange (forex) market saw an average daily turnover of approximately 5.1 trillion U.S. dollars. This means that on an average day in 2019, the sum of all transactions ... Forex Trading Statistics. Forex markets had a daily turnover of $6.6 trillion dollars in 2019, up from $5.1 trillion in 2016. The total value of the forex industry increased from $1.934 quadrillion dollars in 2016 to $2.409 in 2019. Forex is the only financial market in the world to operate 24 hours a day. T he foreign exchange market is the most actively traded market in the world. More than $5 trillion are traded on average every day. By comparison, this volume exceeds global equities trading ...

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Anfänger entdeckt Volumen Trading - Dann geschah das Unfassbare (Forex Daytrading Live)

In this Volume Price Analysis Forex Trading video I'll show you a simple trading technique when using volume price analysis it is the easiest trading strateg... Wondering how to include Volume into your trading? With this guide you'll get the three most important components of volume based trading: 1. How is Volume r... Anfänger entdeckt Volumen Trading - Dann geschah das Unfassbare (Forex Daytrading Live) Volumen Trading Softare kostenlos testen*: https://bit.ly/2TLQGAx ... See how volume can help avoid the pitfalls of false breakouts. Learn the 3 simple signals that can keep you on the right side of the market. To learn more about... Curious about my trades If you have questions 🤷‍♂️👨‍💻😉 ask them below! I respond to every question posted on my channel. You're 7 Steps away from Becomin... Best Volume Indicators You Can't Afford To Miss (Volume-Based Trading For Forex & Stock Market) - Duration: 10:09. ... Strategy I use to make $100 per day in the FOREX MARKET - Duration: 29:39 ...

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