first weeks learning. I have some question, please?
Hello: I´m from Portugal. In the past 2 months i start to study information about Forex. I´ve been developing a model that looks quite promising. But i would like to get help in some questions, if you plase; 1) Is there anybody here from Portugal? If so, which broker do you use? Are they a Market Maker ? 2) Metatrader seems to block sometimes my laptop. So what are the alternatives? CTradeRr? 3) A more technical question: I came from SportBetting. In Sporting Betting position size is fundamental. I´ve noticed that risk management with Forex is a lot based on stop loss order. But i´m a believer in bankroll management, so i want to test all possibilities . An example: I have 2000 Euros. My model says to apply 8% of my bankroll. Would this be just a simple conversion to lot size? And if so, does it really make sense, since you are gonna apply a stop loss? Thank you guys.
Real Supply & Demand in FOREX with Precision Part Two
So yesterday I created the first part to the 'post' Today I'll continue it. All markets, equities, cars, widgets, groceries, bonds and even forex are driven by volume. Without volume there is no movement as it's the market maker to entice the trader to aggressively buy or sell based upon their sentiments of direction. So let's first put into perspective market sentiment and what it is for this posts purpose. Sentiment is the psychological pressure of trader expectations in movement. It's visible through intermarket analysis and even some indexes when the indexes are properly cross referenced. But sentiment is visible even when candles stop their climb or when buying pressure supports the prices on an attempt to move lower. What comes after sentiment builds it's pressure is the path of least resistance and that's really what the markets are doing. Following the path of least resistance with volume as the rivers boundaries. Volume in foreign exchange is real. Retail traders think that because the market is decentralized that volume isn't available. Well, the broker you connect to, and the prime broker or bank that they connect to, they source their pricing with risk management modules by analyzing aggregated volume. Aggregation is a grouping of FX liquidity streams (that all include volume levels) into one hub of liquidity housed inside a limit order book. Volume is not made available to you though. It's the playground of the banks and if you're going to have access to a tool that allows the masses to dilute their returns do you think they would let you have it freely? Nope! They would though lobby for laws (Dodd-Frank, FIFO etc etc come to mind here) they all make it more difficult for you to trade!!!! Opacity!!! But volume is very real, it only needs proper aggregation! So how do we find valuable opportunities when studying the charts? First off, if you study the charts alone you're doing yourself a great disservice! EURUSD in any time frame is just a representation of a relationship between two currencies. You need to study the value of the underlying currencies! What that provides you is precision entries. Let's call the entry on Candle 12 (an arbitrary number). On candle 12 you see USDCHF spike higher, that would indicate that EURUSD is going to drop 96% of the time! Oh a little insight! So you take a position short EURUSD on candle 12 in expectation that the relationship between the two currencies is going to go lower because of the strength in the Dollar. But remember, exchange rate fluctuation is the path of least resistance. So at the point where you have found your entry short in EURUSD, there is the opposite consideration. What if I am wrong? What it if goes the other way? At what price would it show me the opposite direction and how long do I have to wait to confirm a reversal? Candle 12 is magical. It tells you what you need. You see, in ALL instances, extremes high or lows of charts are seen by changes in what's called bid/ask bounce. When bid ask bounce is breached it's giving you sentiment, volume and price all shifting directions. If candle 12 is the candle short, then the high immediately prior to candle 12 is your reversal point! I guarantee you this is the intersection of buyers and sellers, and when one defeats the other the market changes direction. This is true for all of the entries here, if price reversed before it reached a profitable exit then the reverse would in fact be at the opposite extreme prior to the entry candle. So we go back and visit the adage buy low/sell high but what happens in between? Proper analysis is an active participation. And just as your analysis says you should buy or sell, your analysis should also tell you how the market is reacting in the middle. If there's no change or breach in bid/ask bounce the trend is still moving. In the attached chart. When an entry signal is confirmed, the immediate high or low prior to that entry becomes the exact reversal point. (I have circled them in yellow) In most of the opportunities shown that stop loss is a mere 2.2 pips away from the entry price and there are no reversals that were required and all signals were profitably identified. No I did not trade them, this is live analysis that runs continually. Of all the signals there is ONE blue X in the center region of the chart that almost gave a sell signal but price pressures remained in tact and thus bullish. The analysis identifies over 100 pips in movement within a range of 35 pips overall. And none of it with lagging analysis. With proper analysis, you can maximize your returns by comprehensively understanding all market conditions. You'll minimize your losing trades to negligible frequencies, your gains will be maximized and you'll see precisely how the market moves, turns, breathes and follows the path of least resistance. Now my purpose here is to develop market transparency for the little guy. Sure my posts attract trolls because the trolls have been burned by their own trading ignorance. So they attack those that strive for and deliver something better, in fact most of them don't know how to trade to save their life and that's their anger. I could show you a few of them who have had accounts with companies I advise or am principal of - but there are privacy rights to respect. Do I do this free? On here of course. Is it a business? I've spent over a million dollars in just research, but when I experienced how expensive it was to obtain true transparency I knew there were benefits to providing this information to retail traders. https://preview.redd.it/367rn2d6p3s51.jpg?width=1345&format=pjpg&auto=webp&s=e99e1604a078b6aa0916f32be91ce16bc5196320
Let's settle this once and for all - IS THE MARKET MAKER REALLY OUT TO GET ME?
I can't stand this anymore. I keep hearing this so much I'll go crazy soon. How in the world do the market makers know who I am, to wait for little ol' me and stop me out. I am no big player, I scalp quickly in and out. Why should I be affraid of some boogie monster? Can this stop or if not, explain to me what does this even mean. And then another thing: Has anyone ever heard of odds and evens? Like, the big players don't like it if you use even numbers. I have to trade 1,3,5 contracts, BUT I AM UNDER NO CIRCUMSTANCES allowed to use 2,4,6... I've heard this from my mentor and some trader who worked for a hedge fund. I am calling all of this bullshit. To me it's like some bedtime stories old forex traders tell the young forex traders.
There are a lot of opportunities online for anyone that wants to make a little extra money. From a part-time hustle to an all-out digital career, there are loads of ways that you can make money with an electronic device, and a connection to the internet.
Paid Surveys - Did you know that thousands of South Africans earn extra income by simply participating in online surveys to help local companies improve their products? Finally, now you have an opportunity to do this as well! You can find a list of the top survey sites for South Africa HERE
Selling Your Photos Online - Selling photos is a wonderful way to make money online if you have an aptitude for photography. Two popular platforms that you can try are Shutterlock and Unsplash. Every platform will have different requirements, but they will all pay you in hard cash. Though the photography market is quite hectic, it’s still a good method of gaining a passive income if you’re persistent and professional. Plus, the opportunity for additional sales is higher when your photos become popular. Many companies need photos of landscapes, and we all know that South Africa has some of the most amazing scenery in the world. In some cases, a smartphone is enough to get started, depending on the stock photo site you choose.
Be a Freelance Content Writer - Freelance writing is a serious online business. The internet enters most areas of our life, and the need for blog articles and various types of content is exploding. There are many kinds of online writing work, and many people need things like product descriptions or simple reviews. Before going further in this direction, you first need to set up a blog or website. This will be an amazing portfolio where you can demonstrate to potential clients or businesses that you can deliver great work. A LinkedIn profile can be created to function as an online portfolio as well. Don’t forget that many writing clients will want to see specialized work, so be sure to consider what area you would like to specialize in. The pay for online writing varies, but with some practice, you should be able to make a decent part-time income.
Sell Unwanted Goods - You can sell your unwanted stuff to people who want it and make your side business a real money maker. There’s plenty of options to use for sales such as Gumtree or Amazon. Don’t forget to do some research and see what assets have recently been sold so you have a target price. If you a business, you can sell other people’s goods as well. Many people don’t have the time or patience to sell goods online, and you can do it for them. If you charge a reasonable percentage of the sales, you can make a solid business out of selling used goods online.
Build a Personal blog/website - Not only can you write for companies to gain income but you’re also able to run your own blog to raise money as well. Set your expectations at a reasonable level because this job requires consistent practice and lots of patience. Bloggers make a profit, often through press coverage, advertising products, and writing sponsored guest posts. You will need to run the blog for a while before you can expect to see any profits, but it is very simple to get started. Check out some of the other ideas on this list for ways to leverage a blog for greater income, like selling drop shipped items.
Legitimate Remote Jobs can Pay Real Money - Many companies are heading to a work-from-home style of business since this type of model helps save money, and eliminates the risk of illnesses. People are completely flexible while working for a company and selecting where they decide to spend their time.CrowdSource, for example, hires remote writers, editors, and other jobs that can be done easily from anywhere. Companies like Fast Chart offer work-from-home options for medical transcriptionists. You can also try seeking opportunities at LiveOps, a call center staff. You might be surprised at how much time and money you save when you work at home. There is no transit, and you can cook for yourself. Think about it!
Become a Dropshipper - Dropshipping is not a strange term, especially when eCommerce is booming. Anyone can be a drop shipper since the work requires low investment at the beginning and also guarantees minimal risk. The system operates by purchasing the stock (goods) from a third party supplier or manufacturer, who then fulfills the customer’s request. You don’t have to shop or handle goods in advance because the product comes directly from the vendors whenever an order is placed by a customer. There are many dropshipping platforms out there, and some are basically free to use. You will need to figure out how to market the goods, which is where a blog or website comes in very handy.
Affiliate Marketing - Affiliate marketing is a popular method of making money online in South Africa and across the world. You can sell into a variety of markets with this business model, and make money almost anywhere. You can generate revenue from product sales. In other words, affiliate marketers will refer readers to a lot of products and get a small cut from them. Once a customereader buys products, you will earn a commission. A widely known approach is to start creating your own blog in a specific niche and to establish a trustworthy community that can purchase your promotions. Unlike dropshipping, you simply get a commission and have no other responsibilities. So easy! Check out SA’s leading affiliate network – https://www.affiliate.co.za/
Online Business with Etsy - Try selling DIY designs and crafts on Etsy if you’re a skilled maker. An Etsy shop is basically free to operate, and you can make real money with the platform. Once your registration is complete, you can start posting photos of your works, and people can purchase your products. There is really no limit to what can be sold on Etsy, but make sure that you are able to send your goods to other countries, as many buyers are likely to be in the EU or North America. A PayPal account is important to have and also a popular payment choice so that customers can pay you quickly. Take nice pictures of the items to help draw purchasers into a sale. Make sure that you have good customer service as well, or you won’t be selling on the platform for very long!
Forex Trading - You might have heard about trading FOREX or Contract For Difference (CFD) trading. The basics of this online money-making are simple. You will choose a currency pair, and bet on the direction of one currency vs. the other. For example, you could speculate that the EURO will appreciate vs. the RAND (or just about any currency). If you are correct, and then sell the contract, you will make profits. While this might sound easy, most people who do this lose money. In addition to currency, most retail FOREX brokers will allow you to trade in other markets, such as commodities, or shares. If you are looking for a reliable income, this probably isn’t right for you. On the other hand, if you don’t mind taking on risks, trading FOREX can be extremely profitable.
When one typically hears the phrase “forex scam” one automatically assumes that it is being perpetrated by an unlicensed or unregulated forex broker. For the most part, that assumption is correct. All you have to do is a quick google search and you will find numerous articles detailing reprehensible acts committed by unregulated forex and binary options brokers. However, there have been numerous instances of regulated forex brokers skirting the rules.
Not all regulated brokers are trustworthy
Unfortunately, there are numerous regulated forex brokers that have defrauded unsuspecting clientele as well. Last year on the CFTC slapped a $7 million fine on Forex Capital Markets (FXCM) in a civil monetary penalty for engaging in fraudulent and misleading solicitations, spanning from September 4, 2009, through at least 2014. Additionally, the CFTC emphasized that FXCM had misrepresented that its ‘No Dealing Desk’ trading platform had no conflicts of interest with its clientele. Instead of running a true ECN execution platform where trades are performed directly in the interbank market, their clientele’s trades would be redirected to a Effex Capital LLC, which was originally designated to be an independent market maker but was, in reality, an extension of FXCM. Effex Capital would take very aggressive forex trades against the investors in order that they would lose and in return, FXCM would be the beneficiary of some very high kickbacks, which they received under the table from FXCM.
FXCM barred from the U.S.
Because of their duplicitous practices, the CFTC withdrew their regulation and FXCM was no longer allowed to service U.S. customers. Additionally, FXCM was caught by the FCA in yet another forex scam. They took away their investors’ positive swaps, causing them to only receive negative swaps. Surprisingly, the FCA did not remove their regulation.
Beware of OTCapital
OTCapital, forex broker regulated by ASIC has been swindling numerous investors. Broker Complaint Registry has received numerous complaints from those who have been victimized by their reprehensible practices. Complaints have ranged from not allowing clients to withdraw their earnings to never receiving a call back after they had deposited. Unfortunately, ASIC has not taken any action against OTCapital.
Protect yourself from a forex scam
Before you deposit money with a broker you must first make sure that the broker is regulated by an entity such as the CFTC, FCA, ASIC or the IIROC. Remember not all regulatory bodies are created equal. For example, if the broker that you are interested in has only a CySEC (Cyprus) regulation it would be wise to steer clear. Although they have gotten tougher on rulebreakers, CySEC is still lax in numerous areas. Additionally, do your research. This means reading reviews, looking at various forums, and so on. It is not enough that the broker you are interested in has a regulation. You must vet them. If you have fallen victim to a cryptocurrency scam, send a complaint to at [[email protected]](mailto:[email protected]), and we will do our very best to get into contact with you as soon as we can to initiate your funds recovery process. Visit www.fundsrecovery247.com for more information or Contact - [email protected] com.
I’m asking this because I hear different speculations about the way of lost money. 1 It goes to the traders with winning trades .(sounds like sport betting even if is not that) 2 The bank gets the money (of loosing traders).This means the banks always wins . 3 The money disappears (It sounds the most logical option but I don’t think that is real. if it would be like that the banks would not give their equity to retail traders. Even if they recover the loss from the traders balance. Where would be their profit come from.?They only make money from the 10% percent of winning traders?) 4 Describe the 4th option, plz.... Please guys, could you explain it to me in a really accurate way with examples? I’m wondering where the banks win because the Brokers win from commissions. Thank you and have a nice day. Sry if there is any typos . My English is not so accurate.
DeFi: como escapar del peso (y de la AFIP). Capítulo 3
Capítulos anteriores: IntroducciónLending Capítulo 3: Derivados Aplica mismo disclaimer que el capítulo 1 En esta oportunidad vamos a analizar oportunidades de inversión en activos físicos a través de tokens en Ethereum. Synthetix Synthetix es un protocolo que permite comprar y vender "activos sintéticos" o dicho de otra manera, lograr exposición a activos del "mundo real" mediante el trading de Synths. Todo on-chain, sin intermediarios o terceros que controlen las operaciones. Los Synths son tokens basados en Ethereum que proveen exposición a activos como el oro, plata, monedas (USD, GBP), commodities, índices de stock markets y próximamente incluso a acciones individuales. Estos tokens cotizan como el activo que representan y van siguiendo el precio según el mercado real de ese activo. Aunque lejos esta de ser lo mismo, sería como un ETF tipo GLD que "sigue" el precio del oro físico. Algunos de los Synths que hoy están disponibles son:
sBTC/ETH/BNB y otros, que siguen la cotización de esas y otras cryptos
sXAU representa una onza de oro
sXAG lo mismo pero de plata
sUSD/EUJPY/GBP y otras, para las monedas fiat
sNIKKEI el índice Nikkei 225 de Japón
sFTSE el índice FTSE 100 de UK
y ya están anunciados el lanzamiento de commodities como el barril de petróleo Brent (sBZ) o acciones individuales (sAAPL, sTSLA, etc.) De esta manera uno puede, con sus USDC o DAI, comprar por ejemplo sXAU y de esa manera tener un criptoactivo que representa una onza de oro, generando exposición a su fluctuación de precio. O diversificarse en varias monedas y armar una cartera con Euros, Libras y Francos Suizos para no estar únicamente expuesto al Dólar. Siempre con la posibilidad de hacerlo en fracciones (0.045 sXAU) y sin restricciones, reglamentaciones, trabas, burocracia y todo el listado que venimos repitiendo en estas guías. La cotización de sXAU con respecto al dólar (sUSD) en el último mes En poco tiempo, a medida que se vayan lanzando nuevos synths, uno podría armarse una cartera de inversiones de la misma manera que lo hace en un broker tradicional con acciones de diferentes empresas o ETFs compuestos de mercados enteros como el S&P500. Para empezar a usar Synthetix no hace falta nada más que un wallet y tener disponibles sUSD, que puede comprarse en varios exchanges o en la misma plataforma de Synthetix. Luego ingresar al exchange e intercambiar por el Synth que se quiera. Ese Synth se puede vender en cualquier momento en el mismo exchange por sUSD, que luego podrá ser intercambiado por la crypto que se quiera (o mantener en sUSD que representa al dólar, al igual que USDC o DAI). Hoy cada Synth sigue al precio de su activo mediante un Oracle, que es un servicio centralizado que informa el precio. Ese es hoy el "punto débil" del sistema, ya que ese Oracle podría ser hackeado o intervenido, pero ya se está trabajando en utilizar ChainLink (otra blockchain descentralizada) para informar los precios y poder deshacerse de los Oracles. El proyecto y todos los synths están garantizados por el token SNX que es guardado como collateral, aportado por gente que por bloquear ("staking") sus SNX en la plataforma recibe a cambio ingresos por los trading fees del exchange. Hoy el proyecto está sobrecolateralizado en un 820%. Synthetix es uno de los proyectos más innovadores en el espacio y el segundo en volumen de operación después de Maker DAO (donde se crean los DAI). Hoy todavía es limitado en la diversidad de Activos o Synths que se pueden comprar, pero de a poco van agregando más cantidad y variedad (acciones, commodities, forex). La promesa de la plataforma es llegar a un momento donde una persona pueda invertir on-chain y de manera descentralizada con exactamente las mismas posibilidades y oportunidades que en un broker tradicional. Leer más: AMA con el fundador de Synthetix, Kain Warwick y su CTO Justin Moses (en inglés) RealT Otro proyecto interesante para participar de la economía real vía blockchain es RealT. Antes que nada es importante aclarar la diferencia con Synthetix: esta plataforma tiene un nivel de centralización muchísimo mayor, depende de un administrador central que gestiona la inversión mediante diferentes vehículos legales en USA, consiste en la inversión en activos físicos y varias cuestiones más que la convierten en un híbrido que igualmente me parece que es interesante evaluar. RealT permite participar de manera fraccionada de un negocio inmobiliario real en USA (por ahora, en Detroit), a través de tokens en Ethereum. Está apuntado a pequeños inversores internacionales, permitiendo de una manera muy sencilla y con poca inversión ser parte de la compra de una propiedad y luego de sus ingresos por el alquiler. Sería algo asi como una réplica digital de invertir en un REIT en el mercado tradicional (como siempre aclaro, con sus obvias diferencias). RealT ofrece distintas propiedades fraccionadas en partes de aproximadamente 0.1% de su valor. Hoy por ejemplo se puede comprar por $53.13 un token de una propiedad de $74.389, que va a generar $5.88 por año de ingresos por el alquiler (después de fees), rindiendo un 11.06%. Se pueden comprar cuantas tokens se deseen, y se puede participar de varias propiedades para diversificar. Lo interesante de todo esto es que la participación implica la compra de un token en Ethereum (RealToken), y a partir de ahi quien tenga ese token recibirá los dividendos en forma diaria en DAI. Esto quiere decir que también existe un mercado secundario, ya que los RealTokens pueden luego transferirse y venderse, ya sea a través de su sitio o en Uniswap. Para participar en una compra es necesario registrarse en el sitio y pasar por el proceso KYC presentando documentación, y las direcciones ETH adonde se transfiere el token deben ser whitelisteadas con la comprobación de identidad (los puristas de la descentralización se están arrancando los ojos al leer esto) Es posible ver la actividad de cada propiedad en el blockchain (ejemplo), con sus transferencias, pagos, etc. Desde el lado legal, para cada propiedad se crea una LLC, donde los dueños son los tenedores del token, y estas LLC son independientes de la quien las administra (RealT). Sin dudas es el proyecto más riesgoso de los que venimos comentando por su alto nivel de centralización, pero por otro lado ofrece un rendimiento anual muy alto y la posibilidad de diversificar en un negocio distinto y atado a la economía real. Próximo capítulo: robots de inversión
ECN Brokers - How Does Forex Trading through ECN Work?
Top ECN Brokers ECN brokers (Electronic Communication Network brokers) are amongst the fastest emerging brokerages in the Forex world. Also, there's no question that brand-new ECN brokers are opening their doors consistently. In short, ECN Forex brokers offer a market where traders and market makers can position competing quotes versus each other. Minimum deposits for ECN accounts are commonly more excellent than they are with standard Forex accounts. Still, there are some substantial benefits offered by the ideal ECN brokers, such as the capability for scalping as well as reduced spreads. With many eye-catching options to choose from, choosing between various ECN broker's List can be surprisingly challenging. Intensifying the decision is the truth that several typical brokers offer ECN Forex brokers and their regular trading accounts, which widens your swimming pool of alternatives. To make your decision simpler, we have compared essential aspects of some of the top ECN brokers to offer you a beginning factor in your look for the best ECN brokers List. FacebookTwitterLinkedin
COSS exchange was taken offline on January 7th 2020 with immediate notice to all users. The plan was to begin migration to a white label platform after proceeding with account-level snapshots. The migration was halted mid-way as COSS entered and finalised acquisition negotiations, followed by audits of the existing technology, user data and wallets. With the audits completed, the new management decided to do away with the old exchange platform and introduce a much more advanced engine for its users. This is the platform which goes online this week with many added features including derivatives with up to 100x leverage, as well as an Exchange Swap Engine for instant conversions.
We apologise for the downtime — unconditionally.
The decision to shut down the exchange was not in our control and we, unfortunately, were handed over a shut exchange. We have done our best to re-enable the exchange for all users quickly and assure you that such missteps will be avoided at all costs in the future. The new COSS is a group of investors, professional traders, and financial technology specialists. Who strongly believes in the original vision of COSS — a one-stop platform for modern digital assets whose success is dependent on and shared with all its users — a unique approach to decentralised finance.
The idea is in line with the original concept of creating a shared ‘digital economy’ instead of mirroring a system where the traditional institutional lenders and service providers benefit while the people pay fees to use and access their own assets.
The investment group has appointed a board of directors and is currently assessing nominations for the role of CEO. The board will leave the day-to-day operations to the CEO and their team with a clear mandate — to restore and build COSS the brand for success. Rune and the previous technology, operations and marketing teams will no longer be involved with COSS. We appreciate their work in the past and wish them all the best for future endeavours. Satyarth will continue to remain on board with us and support the community management, marketing and PR team.
New Technology Partner
The new management has carefully evaluated several options to ensure COSS has a stable, scalable and continuously improving technology platform. We have partnered with XHUB — a financial and trading technology company. The XHUB team has vast experience in working with brokers, hedge funds, and proprietary trading firms. XHUB maintains one of the largest cryptocurrency liquidity and order routing systems in the industry, and a trading platform which has been exclusively and extensively used in-house by large trading firms. The XHUB technology team will extend its support to COSS API consumers and encourage them to keep building trading applications for the community. Consumers will have access to extensive historical and real-time market data which will allow them to create advanced strategies supported by back-testing.
A general roadmap of the board’s vision for the immediate future is included below. We remain focused on ensuring that COSS provides a reliable trading platform for retail and professional traders alike.
COSS will relaunch the exchange platform and enable full trading on supported pairs
Current COSS account holders will be sent new login credentials via email and an invitation to begin trading
COS holders will be allocated 100% of the fees generated by the exchange until the FSA dashboard is completed and launched
Balance transfers from previous exchange platform are initiated by the account login. This begins the final-phase of the account audit.
Withdrawal of audited portfolios / balances will be available within 48 hrs of the account portfolio transfer
REST and Websocket access to market data
REST access to account and trade endpoints
Websocket access to account end points
FIX Engine quote and trade functional release
Mobile Trading App (iOS, Android)
Beta release of the full-featured mobile app
Full public launch of the trading app
Listing Policy Release
Compliant with all regulatory requirements
API Community Development
GitHub community to showcase public projects
Budget allocated for development competitions
Mobile Wallet App (v2) (iOS, Android)
Release of the full-featured wallet/payment and proximity peer to peer payment app
Release full scale derivative trading platform for Windows, iOS and Android
Cryptocurrency arbitrage between popular exchanges
Forex, Commodities and Indices with institutional enterprise grade liquidity
Expert Advisors, MQL5, back testing and bot trading
Leverage trading will be reduced as the final step for licensing
Vendor and Payments API
Release of web and mobile payment processing for merchants
Roadmap will be updated in the first and third quarter every year, and will cover plans for that period. Relaunch FAQ The exchange will be operational on 4th March, 2020. To adhere to existing anti-money laundering, counter-terrorism financing and know your customer regulations, existing users will need to complete level-1 KYC. This can be done with a single government-issued photo identity document. Final phase account audit clearance is subject to KYC approval. COS token trading will be available on the COS_USD pair. More pairs will be added as trading activity improves. Maker and taker fees will be set at 0.05% and 0.1% respectively. Trading fee discount and negative maker fees will be discontinued. An updated COS holding based fee tier system may be introduced in the future. The Fee Split Allocation (FSA) dashboard is under development. However, FSA will be tracked and accrue from day one. COS held in private wallets will need to be re-identified and linked to your new user accounts once the dashboard is launched. We will initiate a delisting procedure for some assets. A complete list of pairs and the withdrawal process for the same will be released at a later date. Crypto deposits will remain at 0 fees. A fee schedule for crypto withdrawals will be published on the website. Fiat deposits will be available via Epay and transfers from Epay wallet to COSS will be at 0 fees. Deposits through credit and debit cards will be introduced at 4% fees. We will add more fiat options including withdrawals in the coming weeks. Thank you for all your support and feedback. We are expecting a rush to access COSS accounts and will complete verification for all applicants as quickly as possible. We apologise for any unforeseen delays during the process. You can reach us on [[email protected]](mailto:[email protected]) in case you require any further assistance.
Global Financial Markets: Habits of Good Traders and Bad Traders [Part 1]
The Internet has created opportunity of easy access to the Global Financial Markets. Everyone who desires to learn and earn can now trade in the Global Financial Markets, irrespective of their location around the world without discrimination. What used to be the secret investment opportunity for the rich and privileged few, has now become an open marketplace through digital platforms made accessible on mobile phones, portable tablets and laptops. Therefore, as Internet connectivity and broadband access continues to penetrate into every remote corners of the globe, the awareness of Global Financial Markets commonly referred to as FOREX TRADING, will continue to soar! According to Ian H. Giddy, Stern School of Business, New York University “The global financial markets include the market for foreign exchange, such as the Eurocurrency and related money markets, the international capital markets, notably the Eurobond and global equity markets, the commodity market and last but not least, the markets for forward contracts, options, swaps and other derivatives”. Simply put, the Global Financial Markets is a virtual platform for online trading of Currencies of countries at the International Foreign Exchange Rate, as it is done real time between Banks, Large Corporations, Investment Firms, Hedge Funds and Private Equity Portfolio managers. These are the big players, usually called the Market Makers. These Market Makers are high value and high volume traders that account for over 90% of the 5 trillion dollars worth of trading done everyday for 24 hours throughout the 5 working days of the week. The participation of Individual Traders called Retail Traders in the Global Financial Markets is only possible through a registered and verified account on the trading platform of licensedand regulated Brokers like in the Stock Exchange industry. While the sound of participating in an open market valued at over 5 trillion dollars per day, sounds attractive and inspiring; very few Individual Traders have successfully earned profits from the Global Financial Markets consistently. In many instances, the odds are usually against the Individual Traders due to the numerous cycles of events and uncertainties that influence Global Economy and Trade relationships between countries of the world which directly or indirectly affect the sentiments of buyers and sellers of the currency of countries against others. While many may assume that making profit in the Global Financial Markets is just as simple as clicking BUY or SELL buttons on the Broker’s trading platform, the few successful traders know that there are a lot more to learn and apply. Like everything in life, learning by doing is the best way to winning the trophy. Fairly enough, all Forex Brokers in the Global Financial Markets provide demo accounts with virtual money to help traders learn and practice before investing their real money. Unfortunately, due to the habit of indiscipline, many traders are usually impatient in learning and often allow greed to push them to rush into live trading without developing the necessary skills and habits that will guarantee consistent profit and successful trading career.
“Discipline is the ultimate secret of Distinction. What makes the difference between Good and Bad Traders is Self-Discipline!”
So here it is, three more days and October begins, which marks one year of trading for me. I figured I would contribute to the forum and share some of my experience, a little about me, and what I've learned so far. Whoever wants to listen, that's great. This might get long so buckle up.. Three years ago, I was visiting Toronto. I don't get out much, but my roommate at the time travels there occasionally. He asked everyone at our place if we wanted to come along for a weekend. My roommate has an uncle that lives there and we didn't have to worry about a hotel because his uncle owns a small house that's unlived in which we could stay at. I was the only one to go with. Anyways, we walk around the city, seeing the sights and whatnot. My friend says to me "where next?" "I don't know, you're the tour guide" "We can go check out Bay Street" "what's 'Bay Street?'" "It's like the Canadian Wall street! If you haven't seen it you gotta see it!" Walking along Bay, I admire all the nice buildings and architecture, everything seems larger than life to me. I love things like that. The huge granite facades with intricate designs and towering pillars to make you think, How the fuck did they make that? My attention pivots to a man walking on the sidewalk opposite us. His gait stood out among everyone, he walked with such a purpose.. He laughed into the cell phone to his ear. In the elbow-shoving city environment, he moved with a stride that exuded a power which not only commanded respect, but assumed it. I bet HE can get a text back, hell he's probably got girls waiting on him. This dude was dressed to kill, a navy suit that you could just tell from across the street was way out of my budget, it was a nice fucking suit. I want that. His life, across the street, seemed a world a way from my own. I've worn a suit maybe twice in my life. For my first communion, it was too big for me, I was eleven or whatever so who gives a shit, right? I'm positive I looked ridiculous. The other time? I can't remember. I want that. I want the suit. I want the wealth, the independence.I want the respect and power, and I don't give a shit what anyone thinks about it. Cue self doubt. Well, He's probably some rich banker's son. That's a world you're born into. I don't know shit about it. \sigh* keep walking..* A year later, I'm visiting my parents at their house, they live an hour away from my place. My dad is back from Tennessee, his engineering job was laying people off and he got canned... Or he saw the end was near and just left... I don't know, hard to pay attention to the guy honestly because he kind of just drones on and on. ("Wait, so your mom lives in Michigan, but your dad moved to Tennessee... for a job?" Yea man, I don't fucking know, not going to touch on that one.) The whole project was a shit show that was doomed to never get done, the way he tells it. And he's obviously jaded from multiple similar experiences at other life-sucking engineer jobs. My mom is a retired nurse practitioner who no longer works because of her illness. I ask him what he's doing for work now and he tells me he trades stocks from home. I didn't even know you could do that. I didn't know "trading" was a thing. I thought you just invest and hope for the best. "Oh that's cool, how much money do you need to do that?" "Ehh, most say you need at least $25,000 as a minimum" "Oh... guess I can't do that..." Six months later, I get a call and it's my dad. We talk a little about whatever. Off topic, he starts asking if I'm happy doing what I'm doing (I was a painter, commercial and residential) I tell him yes but it's kind of a pain in the ass and I don't see it as a long term thing. Then he gets around to asking if I'd like to come work with him. He basically pitches it to me. I'm not one to be sold on something, I'm always skeptical. So I ask all the questions that any rational person would ask and he just swats them away with reassuring phrases. He was real confident about it. But basically he says for this to work, I have to quit my job and move back home so he can teach me how to trade and be by my side so I don't do anything stupid. "My Name, you can make so much money." I say that I can't raise the $25,000 because I'm not far above just living paycheck to paycheck. "I can help you out with that." Wow, okay, well... let me think about it. My "maybe" very soon turned into a "definitely." So over the next six months, I continue to work my day job painting, and I try to save up what I could for the transition (it wasn't a whole lot, I sucked at saving. I was great at spending though!). My dad gives me a book on day trading (which I will mention later) and I teach myself what I can about the stock market using Investopedia. Also in the meantime, my dad sends me encouraging emails. He tells me to think of an annual income I would like to make as a trader, and used "more than $100,000 but less than a million" as a guideline. He tells me about stocks that he traded that day or just ones that moved and describes the basic price action and the prices to buy and sell at. Basically saying "if you bought X amount of shares here and sold it at X price here, you could make a quick 500 bucks!" I then use a trading sim to trade those symbols and try to emulate what he says. Piece of cake. ;) Wow, that's way more than what I make in a day. He tells me not to tell anyone about my trading because most people just think it's gambling. "Don't tell your Mom either." He says most people who try this fail because they don't know how to stop out and take a loss. He talks about how every day he was in a popular chatroom, some noob would say something like, "Hey guys, I bought at X price (high of day or thereabout), my account is down 80% .. uhh I'm waiting for it to come back to my entry price.. what do I do??" Well shit, I'm not that fucking dumb. If that's all it takes to make it is to buy low, sell high, and always respect a stop then I'll be fantastic. By the end of September, I was very determined. I had been looking forward everyday to quitting my painting job because while it used to be something I loved, it was just sucking the life out of me at this point. Especially working commercial, you just get worked like a dog. I wasn't living up to my potential with that job and I felt awful for it every minute of every day. I knew that I needed a job where I could use my brain instead of slaving my body to fulfill someone else's dream. "Someone's gotta put gas in the boss's boat" That's a line my buddy once said that he probably doesn't know sticks with me to this day. It ain't me. So now it was October 2018, and I'm back living with Mom n' Pops. I was so determined that on my last day of work I gave away all of my painting tools to my buddy like, "here, I don't need this shit." Moving out of my rental was easy because I don't own much, 'can't take it with ya.' Excited for the future I now spend my days bundled up in winter wear in the cold air of our hoarder-like basement with a space heater at my feet. My laptop connected to a TV monitor, I'm looking at stocks next to my dad and his screens in his cluttered corner. Our Trading Dungeon. I don't trade any money, (I wasn't aware of any real-time sim programs) I just watch and learn from my dad. Now you've got to keep in mind, and look at a chart of the S&P, this is right at the beginning of Oct '18, I came in right at the market top. Right at the start of the shit-show. For the next three or four weeks, I watch my dad pretty much scratch on every trade, taking small loss after small loss, and cursing under his breath at the screen. Click. "dammit." Click. "shit." Click. Click. "you fuck." Click. This gets really fucking annoying as time goes on, for weeks, and I get this attitude like ugh, just let me do it. I'll make us some fucking money. So I convince him to let me start trading live. I didn't know anything about brokers so I set up an account using his broker, which was Fidelity. It was a pain and I had to jump through a lot of hoops to be able to day trade with this broker. I actually had to make a joint account with my dad as I couldn't get approved for margin because my credit score is shit (never owned a credit card) and my net worth, not much. Anyways, they straight up discourage day trading and I get all kinds of warning messages with big red letters that made me shit myself like oooaaahhh what the fuck did I do now. Did I forget to close a position?? Did I fat finger an order? Am I now in debt for thousands of dollars to Fidelity?? They're going to come after me like they came after Madoff. Even after you are approved for PDT you still get these warning messages in your account. Some would say if I didn't comply with "whatever rule" they'd even suspend my account for 60 days. It was ridiculous, hard to describe because it doesn't make sense, and it took the support guy on the phone a good 20 minutes to explain it to me. Basically I got the answer "yea it's all good, you did nothing wrong. As long as you have the cash in your account to cover whatever the trade balance was" So I just kept getting these warnings that I had to ignore everyday. I hate Fidelity. My fist day trading, I made a few so-so trades and then I got impatient. I saw YECO breaking out and I chased, soon realized I chased, so I got out. -$500. Shit, I have to make that back, I don't want my dad to see this. Got back in. Shit. -$400. So my first day trading, I lost $900. My dumbass was using market orders so that sure didn't help. I reeled the risk back and traded more proper position size for a while, but the commissions for a round trip are $10, so taking six trades per day, I'm losing $60 at a minimum on top of my losing trades. Quickly I realized I didn't know what the hell I was doing. What about my dad? Does HE know? One day, in the trading dungeon, I was frustrated with the experience I'd been having and just feeling lost overall. I asked him. "So, are you consistently profitable?" "mmm... I do alright." "Yea but like, are you consistently profitable over time?" ......................... "I do alright." Silence. "Do you know any consistently profitable traders?" "Well the one who wrote that book I gave you, Tina Turner.. umm and there's Ross Cameron" ...................... "So you don't know any consistently profitable traders, personally.. People who are not trying to sell you something?" "no." ................... Holy fucking shit, what did this idiot get me into. He can't even say it to my face and admit it. This entire life decision, quitting my job, leaving my rental, moving from my city to back home, giving shit away, it all relied on that. I was supposed to be an apprentice to a consistently profitable day trader who trades for a living. It was so assumed, that I never even thought to ask! Why would you tell your son to quit his job for something that you yourself cannot do? Is this all a scam? Did my dad get sold a DREAM? Did I buy into some kind of ponzi scheme? How many of those winning trades he showed me did he actually take?Are there ANY consistently profitable DAY TRADERS who TRADE FOR A LIVING?Why do 90% fail? Is it because the other 10% are scamming the rest in some way? Completely lost, I just had no clue what was what. If I was going to succeed at this, if it was even possible to succeed at this, it was entirely up to me. I had to figure it out. I still remember the feeling like an overwhelming, crushing weight on me as it all sunk in. This is going to be a big deal.. I'm not the type to give up though. In that moment, I said to myself, I'm going to fucking win at this. I don't know if this is possible, but I'm going to find out. I cannot say with certainty that I will succeed, but no matter what, I will not give up. I'm going to give all of myself to this. I will find the truth. It was a deep moment for me. I don't like getting on my soapbox, but when I said those things, I meant it. I really, really meant it. I still do, and I still will. Now it might seem like I'm being hard on my dad. He has done a lot for me and I am very grateful for that. We're sarcastic as hell to each other, I love the bastard. Hell, I wouldn't have the opportunity to trade at all if not for him. But maybe you can also understand how overwhelmed I felt at that time. Not on purpose, of course he means well. But I am not a trusting person at all and I was willing to put trust into him after all the convincing and was very disappointed when I witnessed the reality of the situation. I would have structured this transition to trading differently, you don't just quit your job and start trading. Nobody was there to tell me that! I was told quite the opposite. I'm glad it happened anyway, so fuck it. I heard Kevin O'Leary once say, "If I knew in the beginning how difficult starting a business was, I don't know that I ever would've started." This applies very much to my experience. So what did I do? Well like everyone I read and read and Googled and Youtube'd my ass off. I sure as hell didn't pay for a course because I didn't have the money and I'm like 99% sure I would be disappointed by whatever they were teaching as pretty much everything can be found online or in books for cheap or free. Also I discovered Thinkorswim and I used that to sim trade in real-time for three months. This is way the hell different than going on a sim at 5x speed and just clicking a few buy and sell buttons. Lol, useless. When you sim trade in real-time you're forced to have a routine, and you're forced to experience missing trades with no chance to rewind or skip the boring parts. That's a step up because you're "in it". I also traded real money too, made some, lost more than I made. went back to sim. Traded live again, made some but lost more, fell back to PDT. Dad fronted me more cash. This has happened a few times. He's dug me out of some holes because he believes in me. I'm fortunate. Oh yeah, about that book my dad gave me. It's called A Beginner's Guide to Day Trading Online by Toni Turner. This book... is shit. This was supposed to be my framework for how to trade and I swear it's like literally nothing in this book fucking works lol. I could tell this pretty early on, intuitively, just by looking at charts. It's basically a buy-the-breakout type strategy, if you want to call it a strategy. No real methodology to anything just vague crap and showing you cherry-picked charts with entries that are way too late. With experience in the markets you will eventually come to find that MOST BREAKOUTS FAIL. It talks about support/resistance lines and describes them as, "picture throwing a ball down at the floor, it bounces up and then it bounces down off the ceiling, then back up." So many asinine assumptions. These ideas are a text book way of how to trade like dumb money. Don't get me wrong, these trades can work but you need to be able to identify the setups which are more probable and identify reasons not to take others. So I basically had to un-learn all that shit. Present day, I have a routine in place. I'm out of the dungeon and trade by myself in my room. I trade with a discount broker that is catered to day traders and doesn't rape me on commissions. My mornings have a framework for analyzing the news and economic events of the particular day, I journal so that I can recognize what I'm doing right and where I need to improve. I record my screens for later review to improve my tape reading skills. I am actually tracking my trades now and doing backtesting in equities as well as forex. I'm not a fast reader but I do read a lot, as much as I can. So far I have read about 17-18 books on trading and psychology. I've definitely got a lot more skilled at trading. As of yet I am not net profitable. Writing that sounds like selling myself short though, honestly. Because a lot of my trades are very good and are executed well. I have talent. However, lesser quality trades and trades which are inappropriately sized/ attempted too many times bring down that P/L. I'm not the type of trader to ignore a stop, I'm more the trader that just widdles their account down with small losses. I trade live because at this point, sim has lost its value, live trading is the ultimate teacher. So I do trade live but I just don't go big like I did before, I keep it small. I could show you trades that I did great on and make people think I'm killing it but I really just don't need the validation. I don't care, I'm real about it. I just want to get better. I don't need people to think I'm a genius, I'm just trying to make some money. Psychologically, to be honest with you, I currently feel beaten down and exhausted. I put a lot of energy into this, and sometimes I work myself physically sick, it's happened multiple times. About once a week, usually Saturday, I get a headache that lasts all day. My body's stress rebound mechanism you might call it. Getting over one of those sick periods now, which is why I barely even traded this week. I know I missed a lot of volatility this week and some A+ setups but I really just don't give a shit lol. I just currently don't have the mental capital, I think anyone who's been day trading every day for a year or more can understand what I mean by that. I'm still being productive though. Again, I'm not here to present an image of some badass trader, just keeping it real. To give something 100% day after day while receiving so much resistance, it takes a toll on you. So a break is necessary to avoid making bad trading decisions. That being said, I'm progressing more and more and eliminating those lesser quality trades and identifying my bad habits. I take steps to control those habits and strengthen my good habits such as having a solid routine, doing review and market research, taking profits at the right times, etc. So maybe I can give some advice to some that are new to day trading, those who are feeling lost, or just in general thinking "...What the fuck..." I thought that every night for the first 6 months lol. First of all, manage expectations. If you read my story of how I came to be a trader, you can see I had a false impression of trading in many aspects. Give yourself a realistic time horizon to how progress should be made. Do not set a monetary goal for yourself, or any time-based goal that is measured in your P/L. If you tell yourself, "I want to make X per day, X per week, or X per year" you're setting yourself up to feel like shit every single day when it's clear as the blue sky that you won't reach that goal anytime soon. As a matter of fact, it will appear you are moving further AWAY from that goal if you just focus on your P/L, which brings me to my next point. You will lose money. In the beginning, most likely, you will lose money. I did it, you'll do it, the greatest Paul Tudor Jones did it. Trading is a skill that needs to be developed, and it is a process. Just look at it as paying your tuition to the market. Sim is fine but don't assume you have acquired this skill until you are adept at trading real money. So when you do make that leap, just trade small. Just survive. Trade small. get the experience. Protect your capital. To reach break even on your bottom line is a huge accomplishment. In many ways, experience and screen time are the secret sauce. Have a routine. This is very important. I actually will probably make a more in-depth post in the future about this if people want it. When I first started, I was overwhelmed with the feeling "What the fuck am I supposed to DO?" I felt lost. There's no boss to tell you how to be productive or how to find the right stocks, which is mostly a blessing, but a curse for new traders. All that shit you see, don't believe all that bullshit. You know what I'm talking about. The bragposting, the clickbait Youtube videos, the ads preying on you. "I made X amount of money in a day and I'm fucking 19 lolz look at my Lamborghini" It's all a gimmick to sell you the dream. It's designed to poke right at your insecurities, that's marketing at it's finest. As for the bragposting on forums honestly, who cares. And I'm not pointing fingers on this forum, just any trading forum in general. They are never adding anything of value to the community in their posts. They never say this is how I did it. No, they just want you to think they're a genius. I can show you my $900 day trading the shit out of TSLA, but that doesn't tell the whole story. Gamblers never show you when they lose, you might never hear from those guys again because behind the scenes, they over-leveraged themselves and blew up. Some may actually be consistently profitable and the trades are 100% legit. That's fantastic. But again, I don't care, and you shouldn't either. You shouldn't compare yourself to others. "Everyone's a genius in a bull market" Here's the thing.. Markets change. Edges disappear. Trading strategies were made by traders who traded during times when everything they did worked. Buy all the breakouts? Sure! It's the fucking tech bubble! Everything works! I'm sure all those typical setups used to work fantastically at some point in time. But the more people realize them, the less effective they are. SOMEONE has to be losing money on the opposite side of a winning trade, and who's willing to do that when the trade is so obvious? That being said, some things are obvious AND still work. Technical analysis works... sometimes. The caveat to that is, filters. You need to, in some way, filter out certain setups from others. For example, you could say, "I won't take a wedge pattern setup on an intraday chart unless it is in a higher time frame uptrend, without nearby resistance, and trading above average volume with news on that day." Have a plan. If you can't describe your plan, you don't have one. Think in probabilities. You should think entirely in "if, then" scenarios. If X has happens, then Y will probably happen. "If BABA breaks this premarket support level on the open I will look for a pop up to short into." Backtest. Most traders lose mainly because they think they have an edge but they don't. You read these books and all this stuff online telling you "this is a high probability setup" but do you know that for a fact? There's different ways to backtest, but I think the best way for a beginner is manual backtesting with a chart and an excel sheet. This builds up that screen time and pattern recognition faster. This video shows how to do that. Once I saw someone do it, it didn't seem so boring and awful as I thought it was. Intelligence is not enough. You're smarter than most people, that's great, but that alone is not enough to make you money in trading necessarily. Brilliant people try and fail at this all the time, lawyers, doctors, surgeons, engineers.. Why do they fail if they're so smart? It's all a fucking scam. No, a number of reasons, but the biggest is discipline and emotional intelligence. Journal every day.K no thanks, bro. That's fucking gay. That's how I felt when I heard this advice but really that is pride and laziness talking. This is the process you need to do to learn what works for you and what doesn't. Review the trades you took, what your plan was, what actually happened, how you executed. Identify what you did well and what you can work on. This is how you develop discipline and emotional intelligence, by monitoring yourself. How you feel physically and mentally, and how these states affect your decision-making. Always be learning. Read as much as you can. Good quality books. Here's the best I've read so far; Market Wizards -Jack Schwager One Good Trade -Mike Bellafiore The Daily Trading Coach -Bret Steenbarger Psycho-cybernetics -Maxwell Maltz Why You Win or Lose -Fred Kelly The Art and Science of Technical Analysis -Adam Grimes Dark Pools -Scott Patterson Be nimble. Everyday I do my research on the symbols I'm trading and the fundamental news that's driving them. I might be trading a large cap that's gapping up with a beat on EPS and revenue and positive guidance. But if I see that stock pop up and fail miserably on the open amidst huge selling pressure, and I look and see the broader market tanking, guess what, I'm getting short, and that's just day trading. The movement of the market, on an intraday timeframe, doesn't have to make logical sense. Adapt. In March I used to be able to buy a breakout on a symbol and swing it for the majority of the day. In the summer I was basically scalping on the open and being done for the day. Volatility changes, and so do my profit targets. Be accountable. Be humble. Be honest. I take 100% responsibility for every dime I've lost or made in the market. It's not the market makers fault, it wasn't the HFTs, I pressed the button. I know my bad habits and I know my good habits.. my strengths/ my weaknesses. Protect yourself from toxicity. Stay away from traders and people on forums who just have that negative mindset. That "can't be done" mentality. Day trading is a scam!! It can certainly be done. Prove it, you bastard. I'm posting to this particular forum because I don't see much of that here and apparently the mods to a good job of not tolerating it. As the mod wrote in the rules, they're most likely raging from a loss. Also, the Stocktwits mentality of "AAPL is going to TANK on the open! $180, here we come. $$$" , or the grandiose stories, "I just knew AMZN was going to go up on earnings. I could feel it. I went ALL IN. Options money, baby! ka-ching!$" Lol, that is so toxic to a new trader. Get away from that. How will you be able to remain nimble when this is your thought process? Be good to yourself. Stop beating yourself up. You're an entrepreneur. You're boldly going where no man has gone before. You've got balls. Acknowledge your mistakes, don't identify with them. You are not your mistakes and you are not your bad habits. These are only things that you do, and you can take action necessary to do them less. It doesn't matter what people think. Maybe they think you're a fool, a gambler. You don't need their approval. You don't need to talk to your co-workers and friends about it to satisfy some subconscious plea for guidance; is this a good idea? You don't need anyone's permission to become the person you want to be. They don't believe in you? Fuck 'em. I believe in you.
T3 Newsbeat Live is run by Mark Melnick, a 20-year veteran trader from New York. According to him, he made his first million at the age of 19 during the dot-com boom back in the late 90s. He claims that his trading room is the fastest growing trading room at T3 and also the Wall Street’s #1 trading room. You can see this in the description of his videos on Youtube. He is a big proponent of reaching the highest win rate possible in trading. He openly shares some of his trading strategies in free videos and claims that some of his strategies are batting over 70% or even 80 %. He also often says that some of the members enjoy a win rate over 90% using his strategies. I will let you be the judge of this. Self-Promotion He makes a lot of videos to attract new people into his trading room. His daily videos are uploaded on Facebook and Youtube almost daily even on Weekends (mostly excluding Friday evening & Saturdays). In so many videos you’d hear him talking about how his trading room has an edge over other trading rooms while bashing other trading rooms as a whole. He often talks about how his trading room bought stocks/options at the near bottom or shorted at the near top using his “algorithmic analysis” which can be applied to all markets (stocks, future, forex, crypto). Piques your curiosity, right? In fact, that’s how I got to give his trading room a try. “Who in the hell wouldn’t want to catch the top & bottom in the markets, right?” So, you would think people in his room and himself are making a killing using his algorithmic analysis? Not so fast… (in fact, his algorithmic analysis is just drawing trendlines and identifying the most probable support and resistance) When it works (of course, nothing works 100% of the time), you are able to catch just few cents off the top and bottom when it works if you follow his trade. However, you have no idea how long you’d have to hold your position. Mark doesn’t know either. So, he usually goes for nickels and dimes and rarely holds a position longer than 5 minutes. Even if he’s good at picking bottoms and tops, you’d often risk more than nickels and dimes just to make nickels and dimes. Make sense, right? ……. ……. ……. Also, because he gets out of his positions fast, he misses out on riding some potentially big trades. Oh, how I wish stay in that position a bit longer. He doesn’t say but one can surmise that he often leave too much on the table. Of course, it’s important to take your profit fast when you scalp but you consistently leave too much on the table like he does, one has to wonder if he has any system for taking profits (otherwise, it’s all discretionary guessing). This type of bottom/top picking is not his main strategy, though. The strategy that makes him the most amount of money might surprise you. I will get to this later. How Mark Trades (Mark’s Trading Setups and Strategies) Mainly, he scans the market in the morning for earnings reports, analysts’ upgrades/downgrades and other catalysts that have potential to make moves in the market. He openly shares his mockery or insult of analysts, calling certain analysts “idiots” or “imbeciles”. He puts on his first trade(s) early in the morning (from 9:30AM to 10:00AM Eastern Standard Time) when the market move is the most volatile. Some of his strategies use market order during this period of volatile time using options. You can see why this can be very risky and especially on thinly traded options with side spread. He does point out this but sometimes you hear people in the room stuck in an options position that they can’t get out. Just like his trades from calling the top/bottom of a stock, he gets in and gets out of a position within minutes if not seconds while going for nickels and dimes while staring at 1minute and 5-minutes charts. That applies to most, if not all of his strategies. (Yes, sometimes he does catch bigger moves than nickels and dimes.) When you trade during the most volatile time in the morning, you’re subjected to wild moves in both directions. If you’re overly prudent or inexperienced in trading, your stop (unless very wide), has a very high chance of hitting. A lot of times it might stop you out and go in the direction that you predicted. So, when you’ve been trading during this time, you’d probably don’t set a stoploss order or a hard stop to avoid getting fleeced. You do have to be proactive at cutting your loss as quickly as possible. Otherwise you’d find yourself scrambling to get out your position while the bid keeps dropping. I have to say that Mark is very cautious and he does get out of trades very fast if he has doubt. A lot of times he lets out exhausting, heavy sighs and even murmurs some swear words when things don’t seem to go the way he wants in a trade. Besides calling certain analysts, “imbeciles” and “idiots”, this is quite unprofessional but no one in the room has the gut to point things out like this. The irony is that he is the “head of trading psychology” at T3 and it doesn’t seem like that he doesn’t have much control over his trading psychology and let alone his emotion. People in trading chatrooms, like a herd of sheep, as a whole exhibit herd mentality. Even in an online chatroom, you don’t often see someone ruffling feathers and say what they really want to say. This is probably because of the certain amount of people believing whatever he says without questioning the validity and quality of his comments. He has several strategies and according to him all of them have win rate over %70. However, he also comes up with new strategies as often as every month. He either comes up with new strategy or tweaks his existing strategies. According to him, the reason is that the market is always evolving and you need to constantly adapt yourself to the ever-changing market environment. What do you think? Does this sound like someone with an edge? And for someone who scalps for nickels and dimes, he claims to have the highest Sharpe Ratio that he has ever seen in the industry. I’m NOT making this up. He often utters remarks like “My Sharpe Ratio is one of the highest I’ve seen in my twenty-year trading career.”, “I want to create a of traders with a very high Sharpe Ratio. How can you achieve a high Sharpe Ratio when you scalp all the time? And let’s not even talk about commissions generated from frequent scalping. Who cares about commissions when you can be a scalper with high Sharpe Ratio? Now, I want to talk about something controversial about his most profitable strategy. Chatters According to him, he makes the most amount of money using what he calls “Chatters”. He admits he bets on this kind of trades heavily. His chatter trades are based on the “newsflow” of big funds making a move in certain stocks and piggybacking on the same trade before others catch on. No one knows how he exactly gets his “newsflow” and he doesn’t give a straight answer when asked. Maybe he pays a lot for this kind of information or maybe it’s given to him for free. Who knows? But it makes sense. The name of the room is Newsbeat Live. Without this the name wouldn’t be the same. This is probably the only real edge that he has and it’s understandable that he doesn’t want to reveal how he get this kind of newsflow and from where. By joining his trading room he’ll make a callout on these trades for you to take advantage of. In order to do this kind of trade, you have to be very quick on your trigger finger. Almost always the initial move is done within a couple of minutes, if not seconds. If you get in late, you find yourself a sucker buying at or near the top. Also, because you want to get in as soon as you hear his “chatter” announcements, he advised people to get in within 5 seconds of each chatter announcement and use market order to get in. He said that if he had a small account, he’d bet 100% on this kind of “high-octane” chatter trades and get in and get out fast for “easy” money. This was how chatter trades were done …Until one they when many people got burned badly. Back in September or October of 2019, a lot of people in the room lost a lot money because they market ordered call options contracts on a chatter trade. The spread on that trade was something like BID: 0.5 ASK: 5.00 few seconds after he announced it. I didn’t take that trade. No way, I’m going to buy something that has a spread like that. If you’ve been trading options you know that this kind of spread can happen. Many people that day in the room marketed-in on the trade, taking the offer at ASK. They found themselves buying at $5.0 per contract when someone probably bought the same contract at $0.40 or $0.50 just few seconds ago. Someone walked away with decent profits on that trade. This was the biggest trading chatroom fiasco I’ve ever seen. People in the room grieving and throwing numbers of how much they had just lost. 10K, 20K, 30K and even $60K. Could it be also that someone who lost more and didn’t want to talk about it because it’d hurt too much? And how embarrassing to talk about such a loss. I give credit to people who spoke up about it. People were obviously distressed and what did Mr. Mark Melnick do at this moment? Initially, he didn’t say much. But what he said he was going to walk away from the trading desk to clear his mind. It took a while for him to come back and he mentioned that it hurt him a lot that people lost a lot of money and encouraged people not to hesitate to contact him. I don’t think he ever said anything about that he made a mistake insinuating to load up on chatter trades. No apology since everyone who took the trade did it at their own risk. He advised people to reach out to their broker and do whatever it takes to get their trades annulled because the market makers in that trades were despicable crooks and evil. But let’s get one thing clear. Perhaps the cold hard truth. Since Mark is the one who announces chatter trades. he basically frontruns everyone who gets in on these trades after him. There were times when he doesn’t take his own chatter trades and lets the room have it. But when he does, it’s a guarantee win for him. He has some sycophantic followers in his trading room and these people are always hungry for chatter plays. I can imagine drooling over the idea of next chatter trades. It’s human to naturally seek the least path of resistance and this type of trade requires no skill but having fast trigger finger and a platform that allows fast execution. By taking his chatter trades, you are most likely to make money as long as you act fast to get in and get out. The thing is, you don’t know when it’s exactly the next chatter trade is going to happen. If you take a bathroom break, you just miss it. If you take a phone call or answer a door bell, you just missed it. So, it requires you to be glued to your monitor(s) if you want to make the most of your subscription. So, we went over Mark’s most profitable strategy. But wait we haven’t yet to talk about his overnight swing trades. Mark’s Swing Trades His overnight swing trades jokes. Yes, jokes. A lot of his overnight trades are done just before earnings announcements when implied volatility is at the highest. You’ve ever bought a call option just before earnings, predicted the right direction but only to find out that you still lost money next morning? This is because of the implied volatility crush post earnings. A lot of people new to options don’t know this and get taken advantage by veterans this way. I don’t know if Mark knows or not but I witnessed him buying options this way. I think he understand the concept of implied volatility but why he gets on such trades is a mystery. I haven’t exactly checked the result of all of his swing trades but I wouldn’t be surprised if people lost more money following his swing trades than anything in the room. Final Word Mark offers “free-consultation” on the phone for people who struggle in their trading. He said that he takes a lot of phone calls but often you’d get the feeling that he is distracted, unable to give an undivided attention for his consultation. “How would you like to get on a free consultation with a millionaire scalper who can take your trading to the next level?” Appealing isn’t it? But would you want to get on the phone with someone who is going to give a consultation, even if he or she is distracted? Oh, it’s a free consultation. Ok, why not? What do I got to lose? In his videos, you’d hear him saying that he cares for everyone in his trading room and considers them as part of his family. And he runs the trading room out of his good heart and intention more than making money. Besides he says that he makes more money from his trading than running the room. My suggestion is that you have a look and you’d be the judge. He does hold “open house” for his trading room from time to time. Also, I believe that if you try his trading room for the first time, you try it for a month for about $50. As for me, he’s just another front runner using his trading room to profit with a bad sense of humor and exaggeration that make you cringe.
u/OK-Face made a post with some questions about limits and stop orders. I started to write up a big comment but then figured I’d just create an “Orders 101” post in case other newbies might find it useful. If you don’t like massive walls of text, now is the time to leave! The very basics First you need to know a little about forex market makers. A market maker publishes two prices: the bid price (lower) and the ask price (higher). The market maker will sell you units of a currency pair at the higher ask price, and will buy units of a currency pair back from you at the lower bid price. They make money by buying units at the bid from one user and selling those units at the ask to another user, pocketing the difference. The difference between the bid and the ask is called the spread. A narrow spread is good for users. If you buy at the ask (or sell at the bid) you only need the bid (ask) to move upwards (downwards) a little bit before you can sell (buy) back to the market maker to close the position for a profit. The spread will vary over time; the market maker wants to keep it narrow to compete for customers but wide enough to ensure they make money even when the market moves unexpectedly. When the market is stable the spread will be narrow; when the market is volatile the spread will be wide. When someone refers to the price of a currency pair you can usually infer which price (the bid or the ask) they are referring to from the context. If they’re talking about going long (buying) then they are probably referencing the ask. If they are talking about going short (selling) then they are probably referencing the bid. Broker software usually allows you to plot both at the same time, which visualizes not only the prices by the spread (and thus the market maker’s measure of volatility). The “market price” or “mark” is the midpoint between the bid and ask. It’s sometimes used when charting prices, since it smoothes out changes in the spread. The details of where the bid and ask prices come from, how they differ between market makers and from inter-bank rates, and how they are related to but very different from bid/ask spreads on exchange-traded instruments like stocks are all well beyond the scope of this post. (But you should learn it eventually!) Opening and closing a position First, burn it into your brain that a long position is opened by buying from the market maker at the ask and closed by selling back to the market maker at the bid, while a short position is opened by selling to the market maker at the bid and closed by buying back from the market maker at the ask. (Really a short position is a loan from the market maker that you can satisfy with units of currency pairs bought back from them at a later time. But whatever.) When you open a new position you use one of two types of orders: a market order or a limit order. A market order tells the market maker to fill your order as soon as your order gets to the front of the queue, no matter what the price is. If it’s a market buy to go long on a pair then the order will be filled at the ask price. If it’s a market sell to go short on a pair then the order will be filled at the bid price. The time it takes your order to get to the front of the queue is usually less than a second, but the price could change pretty dramatically in that second. A market order says “I don’t care what happens to the price between now and then, just fill my order as quickly as possible.” A limit order goes through the order queue too, but when it reaches the front it tells the market maker to wait to fill your order until an acceptable (to you) price is available. If it’s a limit buy to go long on a pair then you specify the maximum ask price you are willing to pay. If it’s a limit sell to go short on a pair then you specify the minimum bid price you are willing to accept. If the price is already acceptable then the order is filled immediately just like a market order, otherwise it waits until it’s filled or canceled. When you close a position you can also choose a market order or a limit order. If you have a long position then you can either submit a market sell order or a limit sell order to sell back your units at the bid. If you have a short position then you can either submit a market buy order or a limit buy order to buy back the units you shorted at the ask. These orders work just like orders to open a position, but instead of creating a new position they cancel out your existing position. (Hopefully leaving you with a profit.) It is possible to submit offsetting orders that don’t actually cancel out one another! For example, a market maker may allow you to submit a market buy order to go long one lot of EUUSD and then separately submit a market sell order to go short one lot of EUUSD, and track those two positions separately rather than cancel them out. For this reason an order used to close out a position is sometimes clarified as “to close”, as in “market sell to close”. Most users will close positions by right-clicking the position in their broker’s GUI and click “close” (or something similar); this will automatically submit a market order (buy or sell) to close. Submitting a limit order to close may take more clicks. Conditional orders to close When you create an order you can attach conditional orders to close that are only submitted if the bid or ask price moves past a trigger price. You specify the trigger price and the type of order to be submitted when the trigger hits: market or limit. There are four possible combinations, but only three are commonly used. A conditional market order to close a losing position is called a stop-loss order. A conditional limit order to close a losing position is called a stop-limit order. A conditional market order to close a winning position doesn’t have a name and isn’t commonly used. A conditional limit order to close a winning position is called a take-profit order. Generally the trigger price is compared to the price (bid or ask) that will be used to close the position. For example, a long position is closed by selling at the bid, so the trigger price for a stop-loss on a long position will be compared to the bid. Some market makers will allow you to get fancy and decide which price your trigger is compared to, which may be useful if, for example, your strategy is entirely based on the ask price but you want to use a conditional order to close a long position without worrying about the spread. Let’s look at the three common conditional orders to close, from simplest to confusing. Stop-loss orders A stop-loss order is a conditional market order to close a losing position. The trigger price is set on the losing side of the position. When the bid/ask price passes the trigger price, a new market order is created to close the position. Like any market order, it is filled at whatever the bid/ask price is when the order makes it to the front of the queue. For a long position the trigger price is less than the original ask price at which the currency pair was bought. A long position is closed by selling at the bid, so the trigger price is usually compared to the bid. When the bid price falls down to the trigger price a new market sell (to close) order is submitted. When it reaches the front of the queue it’s filled at the current bid, offsetting the position. For a short position the trigger price is greater than the original bid price at which the currency pair was sold short. A short position is closed by buying at the ask, so the trigger price is usually compared to the ask. When the ask price rises up to the trigger price a new market buy (to close) order is submitted. When it reaches the front of the queue it’s filled at the current ask, offsetting the position. Stop-loss orders are used as a last resort: “If my losses get too big close the position as fast as possible, even if that means closing at a less advantageous price.” It’s not uncommon for the bid/ask price to shoot past the trigger price so quickly that the price at which the position closes is quite a bit worse than the trigger price. On the other hand, it’s also not uncommon for the price to just barely touch the trigger price (triggering the placement of the market order to close) and bounce back, so that the price at which the position closes is better than the target price. (This latter scenario can sometimes make people wonder why the position was closed, since it may appear that the price never reached the trigger.) Take-profit orders A take-profit order is a conditional limit order to close a winning position. The trigger price is set on the winning side of the position. When the bid/ask price passes the trigger price, a new limit order is created to close the position. Like any limit order, it is only filled when the bid/ask price is better for the customer than the specified limit price. The limit price for a take-profit order is usually the same as the trigger price. (Some market makers may allow it to be different.) For a long position the trigger (and limit) price is greater than the original ask price at which the currency pair was bought. A long position is closed by selling at the bid, so the trigger price is usually compared to the bid. When the bid price rises up to the trigger price a new limit buy (to close) order is submitted. When it reaches the front of the queue it waits until the current bid is at least equal to the limit price, then it fills and offsets the position. For a short position the trigger (and limit) price is less than the original bid price at which the currency pair was sold short. A short position is closed by buying at the ask, so the trigger price is usually compared to the ask. When the ask price falls down to the trigger price a new limit sell (to close) order is submitted. When it reaches the front of the queue it waits until the current ask is at most equal to the limit price, then it fills and offsets the position. Since the limit price is usually set equal to the trigger price, and since the bid/ask price doesn’t usually reverse within the short time while the new order (to close) moves through the queue, a take-profit order usually closes almost immediately after being triggered, at a price at or very slightly above the triggelimit price. However it is possible that the bid/ask price just touched the trigger price and immediately reverses, leaving the limit order (to close) pending on the queue until the price moves favorably again. Stop-limit orders Finally we come to the confusing one. A stop-limit order is a conditional limit order to close a losing position. The trigger price is set on the losing side of the position. When the bid/ask price passes the trigger price, a new limit order is created to close the position. Like any limit order, it is only filled when the bid/ask price is better for the customer than the specified limit price. Unlike a take-profit order, the limit price for a stop-limit order is usually not the same as the trigger price. For a long position the trigger (and limit) price is less than the original ask price at which the currency pair was bought. A long position is closed by selling at the bid, so the trigger price is usually compared to the bid. When the bid price falls down to the trigger price a new limit sell (to close) order is submitted. When it reaches the front of the queue it waits until the current bid is at least equal to the limit price, then it fills and offsets the position. For a short position the trigger (and limit) price is greater than the original bid price at which the currency pair was sold short. A short position is closed by buying at the ask, so the trigger price is usually compared to the ask. When the ask price rises up to the trigger price a new limit buy (to close) order is submitted. When it reaches the front of the queue it waits until the current ask is at most equal to the limit price, then it fills and offsets the position. On first blush this appears to be the opposite of a take-profit order, but it behaves quite differently. Take a long position for example, and consider what happens when the bid price moves quickly down past the trigger and continues to fall. The limit sell order (to close) is submitted but suppose the limit is set close to the trigger price. Since the bid is still falling it’s on the wrong side of the limit price (for the customer) so the limit order won’t fill. A stop-limit order says “If I’m losing money and the price moves to X, try to close my position, but don’t accept anything too much worse than X.” Because a rapid price movement may pass both the trigger and the limit, the limit needs to be set carefully to give a little “breathing room” for the limit in case of rapid price movement. Stop-limit orders require careful calculation of triggers and limits to fix risk, or you can end up closing a position early, too late, or not at all! Final thoughts I hope you learned something! At the very least, I hope some newbies see that setting stop-losses, stop-limits, and take-profits involves a lot more math and understanding of the mechanics of the market than thinking “this looks like a good place to limit my losses” and clicking the mouse. Corrections are highly appreciated! I intentionally glossed over a ton of details but if in doing so I omitted something important please let me know!
Retail FX Industry Is About To Change i Over the past few weeks we have received offers to acquire a strategic stake in some of the EU regulated retail FX brokers, some are STP and others are market makers. We are receiving such offers every now and then but usually it is just one company at a time and the contact is initiated by a consultant. This time it is different as there are almost 10 companies on the table and some of the proposals have come directly from the shareholders of these companies. With a few of these offers you could sense some urgency. Since we are not special then I assume that these offers have also been received by other members of the industry. What we have also noticed over the last weeks is that there is an increased activity in the FX related job market (especially in Cyprus and in the UK) and what is strange is that some of the CVs we receive are coming from the mid-level people that have been working for years at quite respectable FX firms. Is the in..... Continue reading at: https://www.linkedin.com/pulse/retail-fx-industry-change-illimar-mattus/?lipi=urn%3Ali%3Apage%3Ad_flagship3_profile_view_base_recent_activity_details_shares%3BKspylzubSBWhnIJVSstiHA%3D%3D
The market makers in the forex community of brokers, at least the vast majority of them, are legitimate and would never do anything like manipulating spreads to their immediate benefit. They are more concerned about pleasing and retaining their clients. Competition is too fierce, and regulators provide much more oversight in this day and age. Like it or not, however, ECNs, the other type of ... Broker vs. Market Maker: An Overview . There are many different players that take part in the market. These include buyers, sellers, dealers, brokers, and market makers.Some help to facilitate ... Market makers are distinct from the other form of retail Forex CFD brokers, known as ECN (Electronic Communication Network) brokers. Instead of making a market and exposing themselves to the trading risk of their clients, ECN brokers act as a middleman between the trader and the members of their networks. Rather than being the counterparty to trades, ECN brokers will match trades against the ... Forex Market Maker Brokers – list / ranking A Market Maker Broker literally makes the market . It creates its own internal trading market by taking the rates from the interbank market and adding appropriate spreads (broker’s earnings) to them. Market Maker vs. ECN Broker: Wer einen Forex Broker sucht, kann mittlerweile aus einer Vielzahl von Anbieter wählen. Obwohl alle Broker zunächst dieselbe Dienstleistung anbieten, gibt es doch deutliche Unterschiede. So stellen einige Anbieter die Kurse selbst festlegen leiten andere die Orders der Kunden direkt an einen Bankenpool weiter. Händler sollten sich vor der Entscheidung genaue ... Market Maker Forex Brokers. About: - Market Makers are generally considered the Forex Brokers that provide the bid and ask prices from their own system. Given that they considered as counterparty for a Forex transaction Market Makers are force to take the opposite transaction of their traders. For example if you buy 1 lot of EURUSD then they must sell 1 lot of EURUSD to you and the vice versa ... Para los brokers Market Makers es posible manipular los precios de las divisas y en general de los instrumentos con que operan para ejecutar los stops de sus clientes o impedir que las operaciones de estos alcancen sus objetivos de toma de ganancias. En algunos casos, los Market Makers en el mercado Forex pueden mover las cotizaciones de los pares de divisas hasta 10-15 pips lejos de los ... This is done through the retail Fx brokers. Usually it is either an ECN, or an STP broker that plays the role of an intermediary between the “average Joe” and the Interbank. Later on we’ll be discussing the difference between the market-makers, but for now let’s focus on the role of the Forex market maker. Market Maker’s Role Best Forex Market Makers Brokers of 2020. Here’s our list of market maker forex brokers. Open an account. 79% of retail investor accounts lose money. Read full review + Add to compare. 1. AvaTrade. AvaTrade was founded and currently has its headquarters in Dublin, Ireland. AvaTrade specializes in forex trading but, like all brokers now, and not just market makers, it also offers a wide range ... Market Making Brokers. Market Making Brokers are the market member companies, which are eligible to provide both sell and buy quotes through their system to the clients.Means, that the company or broker fills all client orders and they are indifferent to the traders’ decisions.
Market Maker, STP Brokers And Spread In Forex Trading Business Tani Special Tutorial in Hindi Urdu
http://www.learncurrencytradingonline.com In this tutorial we look at finding the best ECN Forex brokers for beginners or anyone who is looking to set up a t... 🔴 FOREX Market Maker Broker ফরেক্সে ব্যর্থ হওয়ার কারণ - Part 7 Forex BD - Duration: 11:23. Forex BD 950 views 11:23 Market makers are the guys who make the market in stock market by matching buyers with sellers. Their job is to facilitate the transactions and they get compensated by the spread between the bid ... 🚨🚨Trading Performance 🚨🚨 Improve Your Trading Performance at our Fundamental Trading Academy https://www.toptradersfx.com/academy (Our Academy is 1v1 ... David Cooney, MahiFX CEO, explains how trading with a market maker benefits forex traders. In this tutorial information about Market maker broker and STP Companies in Forex trading business. Benefits of STP brokers and negative points of Market makers brokers. all information about ...