Some trading wisdom, tools and information I picked up along the way that helped me be a better trader. Maybe it can help you too.
Its a bit lengthy and I tried to condense it as much as I can. So take everything at a high level as each subject is has a lot more depth but fundamentally if you distill it down its just taking simple things and applying your experience using them to add nuance and better deploy them. There are exceptions to everything that you will learn with experience or have already learned. If you know something extra or something to add to it to implement it better or more accurately. Then great! However, my intention of this post is just a high level overview. Trading can be far too nuanced to go into in this post and would take forever to type up every exception (not to mention the traders individual personality). If you take the general information as a starting point, hopefully you will learn the edge cases long the way and learn how to use the more effectively if you end up using them. I apologize in advice for any errors or typos. Introduction After reflecting on my fun (cough) trading journey that was more akin to rolling around on broken glass and wondering if brown glass will help me predict market direction better than green glass. Buying a $100 indicator at 2 am when I was acting a fool, looking at it and going at and going "This is a piece of lagging crap, I miss out on a large part of the fundamental move and never using it for even one trade". All while struggling with massive over trading and bad habits because I would get bored watching a single well placed trade on fold for the day. Also, I wanted to get rich quick. On top all of that I had a terminal Stage 4 case of FOMO on every time the price would move up and then down then back up. Just think about all those extra pips I could have trading both directions as it moves across the chart! I can just sell right when it goes down, then buy right before it goes up again. Its so easy right? Well, turns out it was not as easy as I thought and I lost a fair chunk of change and hit my head against the wall a lot until it clicked. Which is how I came up with a mixed bag of things that I now call "Trade the Trade" which helped support how I wanted to trade so I can still trade intra day price action like a rabid money without throwing away all my bananas. Why Make This Post? - Core Topic of Discussion I wish to share a concept I came up with that helped me become a reliable trader. Support the weakness of how I like to trade. Also, explaining what I do helps reinforce my understanding of the information I share as I have to put words to it and not just use internalized processes. I came up with a method that helped me get my head straight when trading intra day. I call it "Trade the Trade" as I am making mini trades inside of a trade setup I make from analysis on a higher timeframe that would take multiple days to unfold or longer. I will share information, principles, techniques I used and learned from others I talked to on the internet (mixed bag of folks from armatures to professionals, and random internet people) that helped me form a trading style that worked for me. Even people who are not good at trading can say something that might make it click in your head so I would absorbed all the information I could get.I will share the details of how I approach the methodology and the tools in my trading belt that I picked up by filtering through many tools, indicators strategies and witchcraft. Hopefully you read something that ends up helping you be a better trader. I learned a lot from people who make community posts so I wanted to give back now that I got my ducks in a row. General Trading Advice If your struggling finding your own trading style, fixing weakness's in it, getting started, being reliably profitable or have no framework to build yourself higher with, hopefully you can use the below advice to help provide some direction or clarity to moving forward to be a better trader.
KEEP IT SIMPLE. Do not throw a million things on your chart from the get go or over analyzing what the market is doing while trying to learn the basics. Tons of stuff on your chart can actually slow your learning by distracting your focus on all your bells and whistles and not the price action.
PRICE ACTION. Learn how to read price action. Not just the common formations, but larger groups of bars that form the market structure. Those formations carry more weight the higher the time frame they form on. If struggle to understand what is going on or what your looking at, move to a higher time frame.
INDICATORS. If you do use them you should try to understand how every indicator you use calculates its values. Many indicators are lagging indicators, understanding how it calculates the values can help you learn how to identify the market structure before the indicator would trigger a signal . This will help you understand why the signal is a lagged signal. If you understand that you can easily learn to look at the price action right before the signal and learn to watch for that price action on top of it almost trigging a signal so you can get in at a better position and assume less downside risk. I recommend using no more than 1-2 indicators for simplicity, but your free to use as many as you think you think you need or works for your strategy/trading style.
PSYCOLOGY. First, FOMO is real, don't feed the beast. When you trade you should always have an entry and exit. If you miss your entry do not chase it, wait for a new entry. At its core trading is gambling and your looking for an edge against the house (the other market participants). With that in mind, treat as such. Do not risk more than you can afford to lose. If you are afraid to lose it will negatively effect your trade decisions. Finally, be honest with your self and bad trading happens. No one is going to play trade cop and keep you in line, that's your job.
TRADE DECISION MARKING: Before you enter any trade you should have an entry and exit area. As you learn price action you will get better entries and better exits. Use a larger zone and stop loss at the start while learning. Then you can tighten it up as you gain experience. If you do not have a area you wish to exit, or you are entering because "the markets looking like its gonna go up". Do not enter the trade. Have a reason for everything you do, if you cannot logically explain why then you probably should not be doing it.
ROBOTS/ALGOS: Loved by some, hated by many who lost it all to one, and surrounded by scams on the internet. If you make your own, find a legit one that works and paid for it or lost it all on a crappy one, more power to ya. I do not use robots because I do not like having a robot in control of my money. There is too many edge cases for me to be ok with it.However, the best piece of advice about algos was that the guy had a algo/robot for each market condition (trending/ranging) and would make personalized versions of each for currency pairs as each one has its own personality and can make the same type of movement along side another currency pair but the price action can look way different or the move can be lagged or leading. So whenever he does his own analysis and he sees a trend, he turns the trend trading robot on. If the trend stops, and it starts to range he turns the range trading robot on. He uses robots to trade the market types that he is bad at trading. For example, I suck at trend trading because I just suck at sitting on my hands and letting my trade do its thing.
Trade the Trade - The Methodology
Base Principles These are the base principles I use behind "Trade the Trade". Its called that because you are technically trading inside your larger high time frame trade as it hopefully goes as you have analyzed with the trade setup. It allows you to scratch that intraday trading itch, while not being blind to the bigger market at play. It can help make sense of why the price respects, rejects or flat out ignores support/resistance/pivots.
Trade Setup: Find a trade setup using high level time frames (daily, 4hr, or 1hr time frames). The trade setup will be used as a base for starting to figure out a bias for the markets direction for that day.
Indicator Data: Check any indicators you use (I use Stochastic RSI and Relative Vigor Index) for any useful information on higher timeframes.
Support Resistance: See if any support/resistance/pivot points are in currently being tested/resisted by the price. Also check for any that are within reach so they might become in play through out the day throughout the day (which can influence your bias at least until the price reaches it if it was already moving that direction from previous days/weeks price action).
Currency Strength/Weakness: I use the TradeVision currency strength/weakness dashboard to see if the strength/weakness supports the narrative of my trade and as an early indicator when to keep a closer eye for signs of the price reversing.Without the tool, the same concept can be someone accomplished with fundamentals and checking for higher level trends and checking cross currency pairs for trends as well to indicate strength/weakness, ranging (and where it is in that range) or try to get some general bias from a higher level chart that may help you out. However, it wont help you intra day unless your monitoring the currency's index or a bunch of charts related to the currency.
Watch For Trading Opportunities: Personally I make a mental short list and alerts on TradingView of currency pairs that are close to key levels and so I get a notification if it reaches there so I can check it out. I am not against trading both directions, I just try to trade my bias before the market tries to commit to a direction. Then if I get out of that trade I will scalp against the trend of the day and hold trades longer that are with it.Then when you see a opportunity assume the directional bias you made up earlier (unless the market solidly confirms with price action the direction while waiting for an entry) by trying to look for additional confirmation via indicators, price action on support/resistances etc on the low level time frame or higher level ones like hourly/4hr as the day goes on when the price reaches key areas or makes new market structures to get a good spot to enter a trade in the direction of your bias.Then enter your trade and use the market structures to determine how much of a stop you need. Once your in the trade just monitor it and watch the price action/indicators/tools you use to see if its at risk of going against you. If you really believe the market wont reach your TP and looks like its going to turn against you, then close the trade. Don't just hold on to it for principle and let it draw down on principle or the hope it does not hit your stop loss.
Trade Duration Hold your trades as long or little as you want that fits your personality and trading style/trade analysis. Personally I do not hold trades past the end of the day (I do in some cases when a strong trend folds) and I do not hold trades over the weekends. My TP targets are always places I think it can reach within the day. Typically I try to be flat before I sleep and trade intra day price movements only. Just depends on the higher level outlook, I have to get in at really good prices for me to want to hold a trade and it has to be going strong. Then I will set a slightly aggressive stop on it before I leave. I do know several people that swing trade and hold trades for a long period of time. That is just not a trading style that works for me.
Enhance Your Success Rate Below is information I picked up over the years that helped me enhance my success rate with not only guessing intra day market bias (even if it has not broken into the trend for the day yet (aka pre London open when the end of Asia likes to act funny sometimes), but also with trading price action intra day. People always say "When you enter a trade have an entry and exits. I am of the belief that most people do not have problem with the entry, its the exit. They either hold too long, or don't hold long enough. With the below tools, drawings, or instruments, hopefully you can increase your individual probability of a successful trade. **P.S.*\* Your mileage will vary depending on your ability to correctly draw, implement and interpret the below items. They take time and practice to implement with a high degree of proficiency. If you have any questions about how to do that with anything listed, comment below and I will reply as I can. I don't want to answer the same question a million times in a pm. Tools and Methods Used This is just a high level overview of what I use. Each one of the actions I could go way more in-depth on but I would be here for a week typing something up of I did that. So take the information as a base level understanding of how I use the method or tool. There is always nuance and edge cases that you learn from experience.
I keep a general high level Macro outlook for currencies. I dont get too deep into Fundamentals and just keep an eye out for news. If I am already in a trade I will hold it if its far enough away from my entry. However, I wont enter right before/during news as it can invalidate your setup.
I started with the basics of learning the standard price action formations/patterns and candles. You can find tons of free info on that online, google is your friend. Then I stared at charts and said "why did the price do that or do this etc" then after a while I started to understand what's happening without having to think about it and I can see the market structure without having to look as closely as I did in the past.
After many many hours of staring at 5 min charts for 15 hours a day 5 days a week I learned how to look at 5 min charts and be like "Oh that's a hammer on the 15 min etc. If you keep track of time you can do the same for hourly candles as well and you will start to see market structure naturally. However I typically trade in a two chart panel window so I have a 15 min and 5 min chart up when trading intra day so I dont have to think too hard about it.
Draw support resistance lines on Daily/4hr timeframes. I prefer to use body of the candle instead of the wick for support/resistance.
You can find support/resistance liquidity levels through out the day as well and trade those if the price retraces back through levels its already been through that same day.
It would be a bit length to explain exactly the best place to draw them. If your unsure there is plenty of free resources on the internet. Just try to use your head and look for price levels where the price was "Supported" or it "Resisted" that price level then slap a line on it. Draw as few or as many lines as you feel helps you and your style. I tend to lean on the side of fewer. I typically do about 6 lines main support/resistances (3 of each).
Draw two Fibonacci Extensions. One on the daily timeframe, and then one on the 4hr time frame. Then you can trade the Fibonacci levels and use them for TP targets or entry zones if price action respects the level. Also you can use it along with support/resistance and pivots if they happen to line up or are very close.
I cannot really figure out how to put it into words how to draw a Fib if you dont know how. I will have to make a picture to demonstrate it. If your interested post below and I will draw one up and post a link. Probably the easiest way to understand. Just keep in mind the Fib you draw on the 4hr time frame will be inside the daily timeframe one.
The TradeVision2020 dashboard that I use just helps me keep a tab on the current market post plus any swing strength/momentum a currency might have on higher time frames. Helps me look for shifts in the market or confirmation that the bias it already has in momentum is continuing. I have found that often currencies when they get really/weak or strong might continue for several days or even longer like a full week or more. We recently had what felt like 1 week or so of flat out Yen weakness which was making some things wonky. All it does is allow me to look at the dashboard instead of a million other charts.
I use two that work well for my intra day style. The Stochastic RSI is just like a RSI but its faster. The second is the Relative Vigor Index which I use to detect swings in momentum and divergences in bullish/bearish momentum. I have used many others in the past, but as I have grown and got better as a trader I have found making my analysis simpler has improved my trading.I dont like the whole idea of have 43 different indicators on 32 different time frames light up a dashboard to be green for me to enter a trade. With how I do it now, I have a clear understanding of what I expect to happen and why. That way when it does happen I understand the move and dont get freaked out if the market moves funny after I am in the trade.
Conclusion I use the above tools/indicators/resources/philosophy's to trade intra day price action that sometimes ends up as noise in the grand scheme of the markets movement.use that method until the price action for the day proves the bias assumption wrong. Also you can couple that with things like Stoch RSI + Relative Vigor Index to find divergences which can increase the probability of your targeted guesses. Trade Example from Yesterday This is an example of a trade I took today and why I took it. I used the following core areas to make my trade decision.
Fundamental Bias: I already had a bullish fundamental outlook on EUUSD with expecting the markets to price in future similes due a higher an higher chance of Biden winning on paper as the election closed in and a "Blue wave" coming which would lead to a weaker dollar. Also, the Euro Zone is getting hammered with COVID pretty hard plus Brexit drama so I had a strong Euro bias.NOTE: As frame of reference, all the other pairs I trade I traded as if they were ranging and trade a range. Markets are messed up right now.
Currency Strength/Weakness: I use a tool that gives me a currency strength/weakness dashboard called TradeVision2020. Helps me track individual currency strength/weakness intra day. Took me about a month to get used to it, but helps me keep track of intra day strength/weakness that can add a bias to trade direction as the day unfolds. Like "Will this run have a 2nd or 3rd push higher" or "I should look to TP at the first sign of weakness in the push" type bias data. You still got to use your brain and figure out the best decision. It wont make choices for you, its only a guide.NOTE: I am not trying to adverse the tool (if providing the code is against sub rules let me know), its just a tool I use every day that helps me with directional bias calls. I am sharing the coupon code that was given to me when I found out about the tool in the TradingView forex chatroom and the guy gave me the code to use when I signed up. I dont want someone to read the name and want to try it out then overpay for no reason. The coupon will give you 40% off. Coupon Code: 3F7A0T5T
Higher Timeframe Analysis: Detected some early signs of Bearish Divergence on the 1hr chart using a on a higher time frame using a Stochastic RSI. Then I saw more confirmation on 5 min charts using Relative Vigor Index to help time my entry mid session.
Pivot Points: I treat pivot points like support/resistance and trade them as such using price action to give me some idea how its being treated by the market. Pretty straight forward.
It may seem like a lot of stuff to process on the fly while trying to figure out live price action but, for the fundamental bias for a pair should already baked in your mindset for any currency pair you trade. For the currency strength/weakness I stare at the dashboard 12-15 hours a day so I am always trying to keep a pulse on what's going or shifts so that's not really a factor when I want to enter as I would not look to enter if I felt the market was shifting against me. Then the higher timeframe analysis had already happened when I woke up, so it was a game of "Stare at the 5 min chart until the price does something interesting" Trade Example: Today , I went long EUUSD long bias when I first looked at the chart after waking up around 9-10pm Eastern. Fortunately, the first large drop had already happened so I had a easy baseline price movement to work with. I then used tool for currency strength/weakness monitoring, Pivot Points, and bearish divergence detected using Stochastic RSI and Relative Vigor Index. I first noticed Bearish Divergence on the 1hr time frame using the Stochastic RSI and got confirmation intra day on the 5 min time frame with the Relative Vigor Index. I ended up buying the second mini dip around midnight Eastern because it was already dancing along the pivot point that the price had been dancing along since the big drop below the pivot point and dipped below it and then shortly closed back above it. I put a stop loss below the first large dip. With a TP goal of the middle point pivot line Then I waited for confirmation or invalidation of my trade. I ended up getting confirmation with Bearish Divergence from the second large dip so I tightened up my stop to below that smaller drip and waited for the London open. Not only was it not a lower low, I could see the divergence with the Relative Vigor Index. It then ran into London and kept going with tons of momentum. Blew past my TP target so I let it run to see where the momentum stopped. Ended up TP'ing at the Pivot Point support/resistance above the middle pivot line. Random Note: The Asian session has its own unique price action characteristics that happen regularly enough that you can easily trade them when they happen with high degrees of success. It takes time to learn them all and confidently trade them as its happening. If you trade Asia you should learn to recognize them as they can fake you out if you do not understand what's going on. TL;DR At the end of the day there is no magic solution that just works. You have to find out what works for you and then what people say works for them. Test it out and see if it works for you or if you can adapt it to work for you. If it does not work or your just not interested then ignore it. At the end of the day, you have to use your brain to make correct trading decisions. Blindly following indicators may work sometimes in certain market conditions, but trading with information you don't understand can burn you just as easily as help you. Its like playing with fire. So, get out there and grind it out. It will either click or it wont. Not everyone has the mindset or is capable of changing to be a successful trader. Trading is gambling, you do all this work to get a edge on the house. Trading without the edge or an edge you understand how to use will only leave your broker happy in the end.
I’ve been looking for a broker that has an API for index futures and ideally also futures options. I’m looking to use the API to build a customized view of my risk based on balances, positions, and market conditions. Searching the algotrading sub I found many API-related posts, but then when I actually read them and their comments, I found they’re often lacking in real substance. It turns out many brokers or data services that have APIs don’t actually support index futures and options via the API, and instead they focus on equities, forex, or cypto. So here’s the list of what I’ve found so far. This isn’t a review of these brokers or APIs and note that I have a specific application in mind (index futures and futures options). Perhaps you’re looking for an API for equities, or you just want data and not a broker, in which case there may be a few options. Also, I’m based in the US so I didn’t really look for brokers or platforms outside the US. If you have experience with these APIs, please chime in with your thoughts. Also, I may have missed some brokers or platforms. If I did or if you see anything that needs correction please let me know.
Broker with a variety of platforms including CQG, Rithmic, TT, some with APIs
Wow, this list grew longer than I originally thought it would be. If you spot a mistake, please let me know and I’ll correct it. Edit: - added Lightspeed API - updated Dashprime to indicate some of the APIs available - added Medved Trader to table - added marketstack to table
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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.
The foreign currency market is the largest of all of the trading markets with an almost unbelievable 5 trillion dollars changing hands each day. Until recently Forex trading was consigned to heavy weight traders and brokers who could afford the high minimum trading amounts required. However, the recent appeal of trading online has prompted a further development in the foreign exchange boom. Increased leverages are now not just available for the big scale traders but also for the starter and lower volume speculators. Whereas minimum deposits were at one time in the thousands of dollars range now they are in the hundreds. Nowadays, a trader can enter the foreign exchange with little more than a credit card, a Forex trading account and a laptop or PC. The boom has led to a number of brokers entering the market to meet the demand in online trading, but getting a suitable broker out of so many options can be difficult. Deciding on a Forex broker Take a look at this list of fundamentals to think about when making your selection of a suitable Forex broker: Foreign currencies All Forex brokers provide the "majors" as pairs to trade upon. These principal moneys include the US dollar (USD), the Japanese Yen (JPY) and the British pound (GBP). Further brokerages host platforms that have the alternative to exchange lesser known moneys. The more sluggish Forex currencies or"exotics" encounter even more volatility as opposed to the "majors" which can provide intriguing trading options. If you are planning on trading on one of the weaker, "exotic" currencies make sure that it on the list of currencies to invest with on your broker of choice's platform. In short make sure that you work with currencies that you have an interest in. Trades A lot of currency brokerages have reduced their minimum deposits to as low as $100. Higher leverage sums which were formerly only made accessible for expert traders are currently on hand for the lower end traders. The good thing about this is that with a 50:1 leverage, on a trading account of $1,000 the user can now sustain a place of $50,000. Be careful to remember, however, that leverage is a sort of financial loan, whilst the strength of your account is markedly increased the potential sum to be lost is also boosted. Regulation Each one of the leading Forex firms will have made sure that they are listed by one or more of the main regulatory authorities. For a user to observe that a company is fully regulated shows that the brokerage service is a serious operation devoted to fair market procedures. Signing up for membership with an unregulated broker is not advised, even more so with such a wide choice of regulated brokers out there.. Minimum amounts for deposit Every broker will designate a minimum deposit amount prior to the start of trading. Smaller deposit amounts can be put down using beginner or low volume trading accounts whereas the high roller accounts require higher minimums to begin. As there are such larger numbers of brokers operating the initial deposit amounts can play a significant role as each company pushes for your custom by trying to out compete rival companies with more tempting welcome offers. You will notice that it can be to your gain if you browse a little. Commissions and Spreads Forex brokerages profit though commissions and spreads. The broker's commission can either be set on a per transaction basis or over a set of transactions. The spread refers to the amount between the actual and the bidding prices of a currency or currency pair. Usually the spread is comes in at around 3-5 pips. Margins It is not unconventional for a broker to require that you fund your account with an advanced amount of capital to counter balance any potential losses that may be experienced. This advanced amount is known as a margin or margin requirement. Be sure that the conditions of the margin requirement are suited to your degree of trading. Trading Platforms The most widespread platform in the online Forex market is the Meta trading platform. It is very reliable and can be accessed both on your computer and your mobile device. Some brokers use their own proprietary trading platform as well so it is advisable to take the time to find out how trusted it is and whether there are any interruptions between messaging between their platform and the actual foreign exchange. Support See if you can get as much information as possible about the level of support available with a broker. Good indicators of a broker's level of service can include the trading education materials they have and if there is a live chat option. Together with this, many top companies display documentation, tutorials and eBooks to educate you on how to improve your chances of achieving profitable returns and cutting down minimising the risks. Forex trading involves risks. You can minimise the risks by researching your broker and testing out your trading strategy thoroughly.
Someone posted on here a few days ago asking about forex and forex trading in Kenya, I have gone through the responses and clearly, most people don’t have an idea. It is 3am in the morning and am in a good mood so let me make this post. This will be a comprehensive and lengthy post so grab a pen and paper and sit down. We’ll be here a while. FIRST OF ALL, who am I..? I am a forex trader, in Nairobi, Kenya..i have been actively involved in forex since I found out about it in Feb 2016 when I somehow ended up in a wealth creation seminar (lol) in pride inn Westlands, the one close to Mpaka Rd. Luckily for me, it was not one of those AIM global meetings or I’d be on Facebook selling God knows what those guys sell. I did not take it seriously till August of the same year and I have been active ever since. I don’t teach, mentor or sell a course or signals, I trade my own money. I am also posting from a throwaway account because I don’t want KRA on my ass. What the fuck is forex and forex trading. In simple plain English, forex is like the stock market but for currencies. Stock Market = Shares, forex = currencies. If you want more in-depth explanation, google is your friend. These currencies are pegged on specific countries, united states- dollar, UK- pound, euro zone- euro, Switzerland- Swiss franc, Kenya- Kenya shilling.. you get the point. Now, there are specific events and happenings between these economies that affect the movement and values of the currencies, driving their value (purchasing power up and down). Forex trading exploits these movements to make money. When the value is going up, we buy and vice versa (down –sell) Is forex trading illegal in Kenya? Is it a scam? Illegal, no. scam, no. All the banks in the world do it (KCB made about 4 billion from trading forex in 2019) Have there been scams involving forex in Kenya? Yes. Here is one that happened recently. This one is the most infamous one yet. Best believe that this is not the end of these type of scams because the stupidity, greed and gullibility of human beings is unfathomable. However, by the end of this post, I hope you won’t fall for such silliness. What next how do I make it work..? Am glad you asked. Generally, there are two ways to go about it. One, you teach yourself. This is the equivalent of stealing our dad’s car and hoping that the pedal you hit is the brake and not the accelerator. It is the route I took, it is the most rewarding and a huge ego boost when you finally make it on your own. Typically, this involves scouring the internet for hours upon hours going down rabbit holes, thinking you have made it telling all your friends how you will be a millionaire then losing all your money. Some people do not have the stomach for that. The second route is more practical, structured and smarter. First Learn the basics. There is a free online forex course at www.babypips.com/learn/forex this is merely an introductory course. Basically it is learning the parts of a car before they let you inside the car. Second, start building your strategy. By the time you are done with the babypips, you will have a feel of what the forex market is, what interests you, etc. Tip..Babypips has a lot of garbage. It is good for introductory purposes but not good for much else, pick whatever stick to you or jumps at you the first time. Nonsense like indicators should be ignored. The next step is now the most important. Developing the skill and building your strategy. As a beginner, you want to exhaust your naivety before jumping into the more advanced stuff. Eg can you identify a trend, what is a pair, what is position sizing, what is metatrader 4 and how to operate it, what news is good for a currency, when can I trade, what are the different trading sessions, what is technical analysis, what is market sentiment, what are bullish conditions what is emotion management, how does my psychology affect my trading (more on this later) an I a swing, scalper or day trader etc Mentors and forex courses.. you have probably seen people advertising how they can teach and mentor you on how to trade forex and charging so much money for it. Somehow it seems that these people are focused on the teaching than the trading. Weird, right..? Truth is trading is hard, teaching not quite. A common saying in the industry is “Those who can’t trade, teach” you want to avoid all these gurus on Facebook and Instagram, some are legit but most are not. Sifting the wheat from the chaff is hard but I did that for you. The info is available online on YouTube, telegram channels etc. am not saying not to spend money on a course, if you find a mentor whose style resonates with you and the course is reasonably priced, please, go ahead and buy..it will cut your learning curve in half. People are different. What worked for me might not work for you. Here are some nice YouTube channels to watch. These guys are legit..
After a short period of time, you will be able to sniff out bs teachers with relative ease. You will also discover some of your own and expand the list. Two tips, start with the oldest videos first and whichever of these resonates with you, stick with till the wheels fall off. How long will it take until things start making sense Give yourself time to grow and learn. This is all new to you and you are allowed to make mistakes, to fail and discover yourself. Realistically, depending on the effort you put in, you will not start seeing results until after 6 months. Could take longeshorter so there is no guarantee. Social media, Mentality, Psychology and Books Online, forex trading might not have the best reputation online because it takes hard work and scammers and gurus give it a bad name. However, try to not get sucked into the Instagram trader lifestyle as it is nowhere close to what the reality is. You will not make millions tomorrow or the day after, you might never even make it in this market. But that is the reality of life. Nothing is promised, nothing is guaranteed. Your mentality, beliefs and ego will be challenged in this market. You will learn things that will make you blood boil, you will ask yourself daily, how is this possible, why don’t they teach this in school..bla bla bla..it will be hard but growth is painful, if it wasn’t we’d all be billionaires. Take a break, take a walk, drink a glass of whatever you like or roll one..detox. Chill with your girl (or man) Gradually you will develop mental toughness that will set you up for life. Personally, I sorta ditched religion and picked up stoicism. Whatever works for you. Psychology, this is unfortunately one of the most neglected aspects of your personal development in this journey. Do you believe in yourself? Can you stand by your convictions when everyone is against you? Can you get up every day uncertain of the future? There will be moments where you will question yourself, am I even doing the right thing? the right way? It is normal and essential for your growth. People who played competitive sports have a natural advantage here. Remember the game is first won in your head then on the pitch. Books: ironically, books that helped me the most were the mindset books, Think and grow rich, trading for a living, 4 hour work week, the monk who sold his Ferrari..just google mindset and psychology books, most trading books are garbage. Watch and listen to people who have made it in the investing business. Ray Dalio, warren, Bill Ackman and Carl Icahn. This is turning out to be lengthier than I anticipated so I’ll try to be brief for the remaining parts. Brokers You will need to open up an account with a broker. Get a broker who is regulated. Australian ones (IC Market and Pepperstone) are both legit, reliable and regulated. Do your research. I’d avoid local ones because I’ve heard stories of wide spreads and liquidity problems. International brokers have never failed me. There are plenty brokers, there is no one size fits all recommendation. If it ain’t broke..don’t fix it. Money transfer. All brokers accept wire transfers, you might need to call your bank to authorize that, avoid Equity bank. Stanchart and Stanbic are alright. Large withdrawals $10k+ you will have to call them prior. Get Skrill and Neteller if you don’t like banks like me, set up a Bitcoin wallet for faster withdrawals, (Payoneer and Paypal are accepted by some brokers, just check with them.) How much money can I make..? I hate this question because people have perceived ceilings of income in their minds, eg 1 million ksh is too much to make per month or 10,000ksh is too little. Instead, work backwards. What % return did I make this month/ on this trade. Safaricom made 19.5% last year, if you make 20% you have outperformed them. If you reach of consistency where you can make x% per month on whatever money you have, then there are no limits to how much you can make. How much money do I need to start with..? Zero. You have all the resources above, go forth. There are brokers who provide free bonuses and withdraw-able profits. However, to make a fulltime income you will need some serious cash. Generally, 50,000 kes. You can start lower or higher but if you need say 20k to live comfortably and that is a 10% return per month, then you can do the math on how big your account should be. Of course things like compound interest come into play but that is dependent on your skill level. I have seen people do spectacular things with very little funds. Taxes..? Talk to a lawyer or an accountant. I am neither. Family? Friends? Unfortunately, people will not understand why you spend hundreds of hours watching strangers on the internet so it is best to keep it from them. Eventually you will make it work and they will come to your corner talking about how they always knew you’d make it. The journey will be lonely, make some trading buddies along the way. You’d be surprised at how easy it is when people are united by their circumstances (and stupidity) I have guys who are my bros from South Africa and Lebanon who I have never met but we came up together and are now homies. Join forums, ask questions and grow. That is the only way to learn. Ideally, a group of 5-10 friends committed to learning and growth is the best model. Pushing each other to grow and discovering together. Forex is real and you can do amazing things with it. It is not a get rich quick scheme. If you want a quick guaranteed income, get a job. And now it is 5am, fuck. This is oversimplified and leaves out many many aspects. Happy to answer any questions.
A Forex trader's success is often directly related to the Forex broker he/she chooses to conduct business with. If a trader chooses a broker who is unwise, unethical, and/or a combination of both, the trader could lose a substantial amount of money in the Forex market. It can be very difficult to determine which Forex brokers are reputable until a trader has traded real money with them. However, by this time the trader may have lost the money that he/she has invested. Forex Brokers Reviews Fortunately, there are online sites that provide informative Forex broker reviews to aid you in choosing the right firm for your trading needs. These sites have extensively tested the brokers' Forex platforms and trading conditions using real-money accounts and making real trades. This means that you don't have to invest your own money to determine whether a Forex broker is reputable and effective at handling your trades on the market. Some of the criteria that such sites use in their reviews include the safety of a trader's deposits and the honesty of the broker. The trader can conduct his/her own online research about a specific trader via online forums, ask direct questions to the firm, and seek information from the proper authorities. One of the essential things the trader must learn about the broker is whether the firm is regulated by government authorities. Another is whether the firm uses state-of-the-art measures to ensure that the trader's personal information and account details will remain safe from unauthorized access. Sites that provide Forex broker reviews can quickly give you this vital information. forex broker review A trader should also determine the spreads and commissions that the broker will receive when executing trades on the Forex market. The lower the level of commission the better it is for you. Any commissions over 3-pips in EURUSD trades should necessitate you finding another broker. There are quality firms that only charge 1-pip for EURUSD trades. It's important for you to find out the spreads and commissions that are charged by the brokers before deciding to employ them for your Forex trades. These are usually explained on the firm's website. A trader should look for a broker that only requires a small initial deposit. At the same time, however, the trader should also consider leverage and minimum lot size as well. The trader should also choose a firm that provides many ways to fund his/her deposit, including wire transfers, credit cards, and PayPal transfers. Sites that provide Forex broker reviews will usually list the ways in which you can fund your accounts. Top Rated Forex Brokers The trader should also find the right Forex trading platform to execute his/her trades. The platform should provide a comfortable and familiar interface to the trader and should also provide plenty of customizations options. The best way to find the right platform for you is to take it for a spin via a demo account, which most reputable brokerage firms now offer. Visit Here -Most Trusted forex brokers
[META] Recent scam/spam trends.. Or, a peak inside what it's like to moderate /r/forex
After a few...especially trying...interactions with unhappy ban recipients today, I thought it would be fun to share a little info on what moderators do to keep this place clean. :) The forex industry is full of shady characters. Any industry sitting on the intersection of financial independence, work, and money, is bound to attract them. There are many reasons for this; the lower barrier to entry compared to other markets, the lack of public knowledge on the subject, and greedy human nature to name a few. Moderating a subreddit dedicated to forex (or anything trading realted for that matter,) presents extra challenges beyond your regular sub. Marketers and scammers are super motivated, and MLM / referral marketing is extremely popular right now, which can turn everyday regular users into sources of spam. How we currently tackle this problem involves technology (scripts, bots, and automod,) a mod review workflow, and some smart sleuthing when needed. The mod team and our scripts aren't perfect though... but the few false positives we get are a very, very small fraction of all mod actions taken (~1%.) Unfortunately, that means some otherwise sincere members get handled roughly, and that can really suck.. I wish there was a better way, but the alternative is this place becomes a wild west and starts looking like your gmail spam folder. That said, here's my personal stats for JUST the last 24 hours:
Bans: 14[edit:16 nowbefore day's end, two more responding to a 'where can I learn how to trade' post.]
All mod actions (including bans, post and comment removal, etc..): 63
Ban appeals: 2
And I'm just one of the mods. . . So what scammer and marketing trends are we seeing lately?
Content marketing - Infographics with instagram handles watermarked in them, or a blog-like post with a embedded links to their own site.
Personal/direct selling - trying to move the conversation out of public view, usually by taking things to DM, or promoting a 3rd party chatroom where the rules here no longer apply.
Shills - Fake accounts used to boost the credit of another user, or service. It's no coincidence that a user asking about 'ULRA PRO SIGNALZ' will quickly have 5+ replies by low karma, new users, saying how great the service is. [edit:here's an example I just caught..]
Fake P/L Porn - We see this quite often. It's easy to fake MT4 account statements and MT4 Mobile screenshots, and new users can't tell the difference so these posts will get a lot of undeserved attention. When people ask how OP made such mad cash, a sales pitch is usually coming right up.
Honestly, it can be really frustrating at times.. luckily the scripts we have in place make weeding out ~80% of these jokers quite easy and quick. Heck, we had one scammer who blew through 12+ accounts over the last few days trying to scam people but none of their posts ever saw the light of day thanks to the spam triggers I've written. What motivates the mod team to keep this place clean? That's an easy answer: The majority of users here are new to trading. Making sure they aren't food for the wolves is important. But even with all the measures we take, some bad actors still get through. So here's where you can help: Use the report button! Anytime you see something that you think fits the descriptions listed above, or violates our sidebar rules, just report it. Even if you're not 100% sure, don't be afraid to use the report tool.. The worst thing that can happen is the mod team reviews and approves it, but the best outcome is you directly help keep this place clean and humming! :) And the mod team is always looking to improve where it can: I've already talked about what we do to scrub away bad actors, but one place we could do better is education. The plan is to rewrite a good portion of the wiki to include the following sections:
Spotting scams and scammers
How to properly compare brokers and regulatory bodies
The real reason why your old high school friend wants you to sign up to IML, and 10 ways to politely tell him to pound sand
No, that hot instagram model won't sleep with you if you buy her online course
Why all signal services are trash and can die in a fire
(Titles above are a work in progress ;P) Are you a good writer and want to help out with this? Think you can write up a killer wiki article on spotting scam artists? Message the mods and let us know! Finally, a reminder, we are still interested in taking on more moderators and will be revisiting that very shortly. If you'd be interested, read through this post and reply accordingly: https://www.reddit.com/Forex/comments/h7ok6k/seeking_more_mods_recruitment_thread/
With new forex brokers coming online every day, it often requires a lot of research and patience to choose the best forex broker for you. We have identified some of the key things that every trader needs to assess when selecting a broker to save you time and help beginner traders, and we have compiled a list of the best Forex brokers on the market. The Bottom Line: The brokers below represent the best brokers for beginners. Pro Tip: Most of these brokers provide free demo accounts so that you can use virtual money to test the brokers and their platforms. Before using your own cash, give it a try with some game money. Here is a summary of the best novice brokers. Note: Not all Forex brokers accept US clients. For your convenience we specified those that accept US Forex traders as clients.
The FCA (Financial Conduct Authority) finally got around to updating its list of unregulated online trading brokers. This list includes both forex and binary options unregulated brokers. Despite the fact, these brokers supposedly offer numerous services they are located in financial havens such as Seychelles, the Marshall Islands or Vanuatu and provide little to no information as to who they really are, and which parent company operates them. So, without further ado let’s introduce these fraudulent companies
Owned by LOK Marketing Ltd, this forex broker is supposedly located in Vanuatu, a tax haven for any illicit business. Apparently, SolidCFD appears to be forging a path for current forex brokers and others that would like to set up shop in the country, whose major exports are frozen fish and distinct floating edifices. However, upon further inspection, the SolidCFD has two other offices registered on their website. The first is under the name MGNC Marketing Ltd. and it is located in Cyprus. A quick google search tells us all that we need to know. MGNC Marketing LTD (Solid CFD) cold-calls potential investors and offers them unauthorized or prohibited financial services. An additional address is attributed to an area in West London. However, upon further review, there is no real company located there. Unsurprisingly no company is registered in the UK under SolidCFD, LOK marketing or MGNC Marketing, which implies that the broker has no physical presence in the United Kingdom. Furthermore, there is a whole list of negative reviews pertaining to SolidCFD. This includes clients being unable to withdraw their funds, aggressive salesmen and not being able to log back into an account once a withdrawal request is made.
Registered in the Marshal Islands, the company supposedly has an office in North London. However, the address that is provided is used by a company that enables other companies to register their business under their address. This obviously implies that StratX has no workers at its given address. Just by merely glancing at a few of the reviews tells you that StratX Markets is operated by a bunch of con-artists. In fact what is more alarming, a number of former clients are claiming that StratX personnel are operating a fraudulent fund recovery company called Linrow Clarion Solvency that claims they can recover money that was lost to illegitimate brokers like Stratx Markets.
Options Stars Global
Last but not least this “broker” is registered in Samoa, but apparently has some sort of a branch in Cyprus that is regulated by CySEC. That is patently false. Additionally, although the website has a U.K. phone number none of their of operations occur in the country. Not only Are there plenty of negative reviews about them, there is a dedicated Facebook page against them Users of the website report an inability to withdraw funds, threatening salesmen, and pushy brokers who tempt traders into depositing more cash into their accounts. The company has done so badly they even have a Facebook page against 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.
We collect Forex Reviews information based on our personal conception and cumulative opinions from others experienced as well. Forex scams, Ratings, Rank, information provided here about different Forex Reviews which are suitable all over the internet on different websites.
Topfxbrokersreview.com is a top online Forex Broker Review platform and we provide great trading experience for CFD and forex traders across the world. You can browse our Forex Reviews list to learn more about the best and safe Forex Brokers site in the market right now.
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In this review, we are taking a look at a trading platform that is used by traders all around the world. BrokerXP offers a varied range of financial products with competitive fees and an easy-to-use trading interface. With advanced trading tools and charting features. BrokerXP Slogan
If trading fees are important to you, then BrokerXP has you covered. BrokerXP offers low spreads that are available to all customers. For forex traders, BrokerXP has no fees at all, this means that you can maximize profits when trading currency pairs. The broker also offers a guaranteed stop-loss order which Is when clients get their stop-loss order rate guaranteed when setting a risk threshold in their position. BrokerXP also offers a 200:1 leverage ratio, which means that for every $1 in your account, you control $200 in the market. So if you are trading and don’t have much capital, you can still generate significant income as your profits can be multiplied by 200x. However, if you are a beginner then it is not advised that you use leverage on your trades. As profits are multiplied, so are losses. Before leveraging, learn the basics and trade using a demo account as this can stop you from losing too much money when you start trading actual capital.
MT4 and BrokerXP have end-to-end encryption that secures trades and funds that are within the trading account itself. Imagine your trading account like a debit card, you wouldn’t put thousands of dollars in your debit card and leave it on a park bench. So when choosing what trading platform you want to go with, make sure that they take the security of your account and funds are serious as you do. To find more answers please watch this video https://www.youtube.com/watch?v=VyMdFz8Rh18
MetaTrader 4 is seen as the flagship trading platform, used by individual traders at home and large institutional investors alike. The platform is available on iPads, iPhones, Android phones, Android tablets, and just about any other web-enabled device. If you want to use the desktop version, instead of the web-app version, then you can download the desktop version and trade from the version. Once you’ve downloaded or loaded the platform, you can log in using your BrokerXP credentials. You can customize the charting interface, changing between light and dark mode, along with some other interface elements. Like with most online platforms, the security flaws come as a result of the customer not securing their side of things. This means that when you are trading, make sure to use long passwords that are difficult to guess and crack. Also, try and avoid trading on public computers as these can lead to your account being compromised. On MT4 you will notice some phrases on the trading interface, here is some explanation of what they mean. When you see the Symbol tab, this means that you can choose between markets. BrokerXP offers many different trading asset options. You can trade forex, gold, stocks indices, and more. The volume tab is where you decide on your trading size. When you see 1 lot, this is equal to 100,000 units of the base currency. The Type tab is where you decide on your trade execution mode, we advise that you stick to ‘instant execution’ as this will place a trade as soon as your press ‘buy’ or ‘sell’. If you set a ‘pending order’, then the platform will make the trade when the market opens back up. The forex market is open 24/7, so this execution method will rarely be available. Stop-loss is another term that you may see on the MT4 interface, this means that your trades are exited when your profits hit a predetermined point. Depending on what type of trader you are, the platform will offer you a specific set of charting timeframes that best suit you. For example, if you are day trading you may look at charts on a 10-minute timeframe. MT4 offers charting timeframes for 1 minute, 5 minutes, 10 minutes, 15 minutes, 30 minutes, 1 hour, 4 hours, 1 day, and 1 month. You can also set custom timeframes in case the standard ones are not suitable for your trading technique. Along with advanced timeframes, MT4 also offers 30 technical indicators such as the Elliot Wave indicator, Bollinger Bands, and pivot points, along with many more. There are also third-party add-ons that can be integrated with the platform in order to customize your interface further. Add-ons like Stealth Orders and Alarm Manager are two of the most popular addons. The first is an extension, Stealth Orders is designed to anonymize trades, with Alarm Manager helping coordinate alerts and notifications. With MT4, you can also create your own extensions using Java API, which is one of the platforms most advantageous features, as it can make everything unique.
BrokerXP Mobile Trading
The MetaTrader 4 mobile app is designed with the main focus being on ease-of-use. The mobile app is packaged with lots of research tools, advanced charts, and watch lists for scanning, with many more features. When using BrokerXP’s mobile trading app (MT4), the look and feel of the mobile app have the same appearance as the web version. This means that if you know to operate the web-based platform, then the mobile app will be easy for you to grasp. With charting, you are given the same charts that are offered on the web app. However, due to the mobile screen being smaller, carrying out advanced forex analysis may be more difficult on mobile devices. But for making orders, setting stop loss or checking basic tasks, the mobile app is more than capable of doing so. The main benefit of using the mobile app is that you can make trades on the go. You no longer have to be at your computer or office in order to set trades. Let’s say that you make a trade at home then go grocery shopping. Whilst you are out you realize that you didn’t set stop-loss in your rush and your pair is depreciating when you check. Now, you can use your mobile to exit a position immediately, you don’t need to wait until you get home.
BrokerXP Customer Service
BrokerXP has a great dedicated customer service team, they are very professional and offer solutions to all of the problems that you could present them with. If you are a new trader, then you may encounter some problems when trying to get to grips with a new trading platform, so BrokerXP offers extensive educational resources. These educational resources are designed to help people familiarise themselves with the platform and all of the financial assets that are available to be traded on the BrokerXP platform. The MT4 platform also has a customer support team that is able to deal with any questions or issues that you are having on the trading side of things. MT4 also has a community section for traders, where questions about trading can get answered. A community forum is a great place for you to get tips about trading and non-essential things that the customer support team may not need to answer. For customer service, you could read here and on this link. To conclude, BrokerXP is one of the best choices for financial asset trading available. Their low fees and advanced features make it perfect for beginners and pros alike. For more reviews, you should visit official reviews on the website, Trustpilot andSitejabber. We highly suggest visiting also on Patch following links for more info and updated news https://patch.com/california/los-angeles/calendaevent/20200929/898131/brokerxp-reviews-are-happening https://patch.com/california/los-angeles/classifieds/announcements/171418/brokerxp-is-having-own-reviews-in-pacific-palisades
Binary Options Review; Best Binary Options Brokers
Binary Options Review; Best Binary Options Brokers We have compared the best regulated binary options brokers and platforms in May 2020 and created this top list. Every binary options company here has been personally reviewed by us to help you find the best binary options platform for both beginners and experts. The broker comparison list below shows which binary trading sites came out on top based on different criteria. You can put different trading signals into consideration such as using payout (maximum returns), minimum deposit, bonus offers, or if the operator is regulated or not. You can also read full reviews of each broker, helping you make the best choice. This review is to ensure traders don't lose money in their trading account. How to Compare Brokers and Platforms In order to trade binary options, you need to engage the services of a binary options broker that accepts clients from your country e.g. check US trade requirements if you are in the United States. Here at bitcoinbinaryoptionsreview.com, we have provided all the best comparison factors that will help you select which trading broker to open an account with. We have also looked at our most popular or frequently asked questions, and have noted that these are important factors when traders are comparing different brokers:
What is the Minimum Deposit? (These range from $5 or $10 up to $250)
Are they regulated or licensed, and with which regulator?
Can I open a Demo Account?
Is there a signals service, and is it free?
Can I trade on my mobile phone and is there a mobile app?
Is there a Bonus available for new trader accounts? What are the Terms and
Who has the best binary trading platform? Do you need high detail charts with technical analysis indicators?
Which broker has the best asset lists? Do they offer forex, cryptocurrency, commodities, indices, and stocks – and how many of each?
Which broker has the largest range of expiry times (30 seconds, 60 seconds, end of the day, long term, etc?)
How much is the minimum trade size or amount?
What types of options are available? (Touch, Ladder, Boundary, Pairs, etc)
Additional Tools – Like Early closure or Metatrader 4 (Mt4) plugin or integration
Do they operate a Robot or offer automated trading software?
What is Customer Service like? Do they offer telephone, email and live chat customer support – and in which countries? Do they list direct contact details?
Who has the best payouts or maximum returns? Check the markets you will trade.
The Regulated Binary Brokers Regulation and licensing is a key factor when judging the best broker. Unregulated brokers are not always scams, or untrustworthy, but it does mean a trader must do more ‘due diligence’ before trading with them. A regulated broker is the safest option. Regulators - Leading regulatory bodies include:
CySec – The Cyprus Securities and Exchange Commission (Cyprus and the EU)
FCA – Financial Conduct Authority (UK)
CFTC – Commodity Futures Trading Commission (US)
FSB – Financial Services Board (South Africa)
ASIC – Australia Securities and Investment Commission
There are other regulators in addition to the above, and in some cases, brokers will be regulated by more than one organization. This is becoming more common in Europe where binary options are coming under increased scrutiny. Reputable, premier brands will have regulation of some sort. Regulation is there to protect traders, to ensure their money is correctly held and to give them a path to take in the event of a dispute. It should therefore be an important consideration when choosing a trading partner. Bonuses - Both sign up bonuses and demo accounts are used to attract new clients. Bonuses are often a deposit match, a one-off payment, or risk-free trade. Whatever the form of a bonus, there are terms and conditions that need to be read. It is worth taking the time to understand those terms before signing up or clicking accept on a bonus offer. If the terms are not to your liking then the bonus loses any attraction and that broker may not be the best choice. Some bonus terms tie in your initial deposit too. It is worth reading T&Cs before agreeing to any bonus, and worth noting that many brokers will give you the option to ‘opt-out’ of taking a bonus. Using a bonus effectively is harder than it sounds. If considering taking up one of these offers, think about whether, and how, it might affect your trading. One common issue is that turnover requirements within the terms, often cause traders to ‘over-trade’. If the bonus does not suit you, turn it down. How to Find the Right Broker But how do you find a good broker? Well, that’s where BitcoinBinaryOptionsReview.com comes in. We assess and evaluate binary options brokers so that traders know exactly what to expect when signing up with them. Our financial experts have more than 20 years of experience in the financial business and have reviewed dozens of brokers. Being former traders ourselves, we know precisely what you need. That’s why we’ll do our best to provide our readers with the most accurate information. We are one of the leading websites in this area of expertise, with very detailed and thorough analyses of every broker we encounter. You will notice that each aspect of any broker’s offer has a separate article about it, which just goes to show you how seriously we approach each company. This website is your best source of information about binary options brokers and one of your best tools in determining which one of them you want as your link to the binary options market. Why Use a Binary Options Trading Review? So, why is all this relevant? As you may already know, it is difficult to fully control things that take place online. There are people who only pose as binary options brokers in order to scam you and disappear with your money. True, most of the brokers we encounter turn out to be legit, but why take unnecessary risks? Just let us do our job and then check out the results before making any major decisions. All our investigations regarding brokers’ reliability can be seen if you click on our Scam Tab, so give it a go and see how we operate. More detailed scam reports than these are simply impossible to find. However, the most important part of this website can be found if you go to our Brokers Tab. There you can find extensive analyses of numerous binary options brokers irrespective of your trading strategy. Each company is represented with an all-encompassing review and several other articles dealing with various aspects of their offer. A list containing the very best choices will appear on your screen as you enter our website whose intuitive design will allow you to access all the most important information in real-time. We will explain minimum deposits, money withdrawals, bonuses, trading platforms, and many more topics down to the smallest detail. Rest assured, this amount of high-quality content dedicated exclusively to trading cannot be found anywhere else. Therefore, visiting us before making any important decisions regarding this type of trading is the best thing to do. CONCLUSION: Stay ahead of the market, and recover from all kinds of binary options trading loss, including market losses in bitcoin, cryptocurrency, and forex markets too. Send your request via email to - [email protected]
Compare some of the best forex brokers in the world
Best Forex Broker in the World In a market that moves about $4 trillion consistently, finding the best forex brokers in the world is muddled. It is anything but difficult to track down plenty of con artists who need to exploit any individual who should get into the forex business. As you will find in our forex training page, the forex showcase has no focal commercial center. Decentralization makes it simple for individuals to do virtually anything they desire. In making the top forex brokers list, it is necessary to ensure that we have the correct data. In any case, as of late, administrative, social orders stand watchman and attempt as much as possible to ensure that in the quest for the best forex brokers in the world, we have great alternatives. We arranged these rundowns to help any individual who probably won't understand what to do, locate the best forex merchants on the planet. These top forex brokers list help point you as the merchant the correct way so you can identify the proper representative for you. Safety efforts The best forex brokers in the world share stringent safety efforts as a standard component. Security is the main thing we see when making the top e top forex dealers in your nation. We demonstrate the character of the names on the top forex intermediaries rundown to ensure you are not cheated. To check the believability and establish that who you have met is somebody deserving of showing up on the top forex brokers list, go to an administrative organization site on the off chance that you need affirmation. A few administrative offices ensure the best forex representative on the planet observe the standards and guarantee that the clients are secured. A portion of the central matters that we make a point to see when searching for the best forex brokers in the world incorporates;
The exchange costs must be reasonable. All the names on the top forex brokers list have sensible and moderate rates. The exchange expenses are paid through a commission or the spread. We ensure the range is low, and the commission charges are reasonable.
The stores and withdrawals must be simple. We verify whether the best forex brokers in the world gives numerous strategies for removal and store and if they cost you something. The charges must be non-existent or as low as conceivable, relying upon conditions.
The exchanging stage for the best forex brokers in the world must be easy to understand. This will permit you to be exact in your dealings. Dealers who do forex online need to utilize an exchanging stage like MetaTrader. Search for an ideal alternative that you are most open to using.
Not many pips affect a misfortune and a benefit. The organizations on the top forex brokers list fill you in at or near the market cost.
As you will discover, everything is secured, including client assistance. You have to realize that when there is an issue, there is somebody to converse with. The best forex brokers in the world are recorded here for you to have a single time picking the best.
With Bitcoin Suddenly Surging, Canaan Stock Is Also Going Up Today
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.
I wanted to write a quick post in answer to the people who routinely make claims I have a history of stealing from people in my previous company and base this upon a blog they read. If you would like to discuss this further, please make a post and link it to me to engage on. I will do so as long as we deal with the facts of how a PAMM company really works. I won't engage in circular debates where the essential point is, "I don't believe you". You don't have to - that's not how any of this works. Just fact check.
I want to avoid Google ranking on this post. Although for my personal 'PR' it would be beneficial to aim to rank something answering claims, at some points in this some others involved in the company will not really come over in the best light. I assume it's likely these people are still involved things (Not spoke with them for 5 yrs) - It'd be unfair to rank bad PR on them. The failure of the company was squarely due to me. Anything anyone else did either would not have happened or not have mattered if I'd done better. I do not want anything I do now to further hinder anyone. So I will refer to names by only one letter (or number if applicable).
I found it strange at the time this ended up centred around the ponzi scheme side of things. There was a reasonable question to be asked and answered as to if it was a pyramid scheme. Were people signing up just to sign people up, or was there a core product of fair market value. The services sold I'd previously ran at the same sort of price point direct to market - so I felt on fairly good ground on that. Initially I's actually been a bit excited initially, because I was a reader of the blog in question and I liked the work they'd done on pyramid schemes. I thought I'd be able to either validate I was doing things right, or learn how I should be doing them better. I never thought the ponzi side of it would take any more than a few minutes to clear up. But that was not so ... A ponzi scheme was to all intents and purposes impossible. All of our business was done via three different brokers and all of our results publicly tracked with close to real time updates for marketing purposes. Of the three brokers we were using, two of them had good regulation. An off-shore broker had to be used for US clients, so this is the only one with any sort of question mark. All of our results over all the brokers were almost identical (Some execution/costs variance). The two regulated brokers were under different regulators. Most, if not all, the brokers held clients funds in segregated accounts. All brokers would have to have been fully complicit in the scam - and it costs more to get regulated than there was to steal. Logically, it could not have been so. We were using a PAMM model. This works by the client opening a brokerage account and signing a LPoA to allow trades to be copied onto their account. The LPoA grants the company no access to the funds. Money laundering laws also dictate the funds can only be redeemed to same source they were funded. PAMMs are big business. Protection of all parties is built into it, it's a well trusted model. This should have taken no less than 5 minutes to self verify. It could not have been a ponzi.
That happened. Turns out if you set up a PAMM in the Netherlands and then let a bunch of people refer investment to it this is classed as running a ... I can't remember exactly and even at the time it was in Dutch so I didn't personally read it all. The underlying problem was not the model in any way. We were told at the time we basically jut had to pay £2,000 for each country we did business in. We were global. At this time the company had neither the money to do that, or pay the fine they gave us for not having the money to do that. My mistaken assumption was that since when you run a PAMM you are basically piggybacking off the broker's licence, all was well and good. This was true - but the problem was sourcing. Paying people to refer investment was what we were fined for when you get right down to it.
This was just a headline. In many ways it's misleading. Firstly, nothing was stolen or even taken. It was lost or given away to clients who'd lost in the PAMMs that went bad. All the money lost was lost trying to get enough money to make good all the PAMMs. So it was not stolen, and there is nothing in anyway to imply that's a suitable word to use. In the blog, no explanation of that is offered. What seems to be inferred is that this was commissions due out to clients that the company kept. Even outside the above mentioned this would be wrong. All affiliates were paid. You will not find a single one who says they were not. Further to that, of all the funds invested into the company (We'll call the company '5') somewhere in the 60 - 70% range was sourced directly by me. Other funds were sourced by my co-founder. Investments were made through passive advertising without them being attributed to a refer. All in all, assuming we did not pay the affiliates and we had this much, $18,000 would be the number. Of the $180,000 somewhere a bit over $100,000 would have been mine. I never took that, and could not have "Stolen" it. I don't see the point in getting super technical on everything by going through how, but the number also probably wasn't $180,000. I think this was an overestimate made in a throw away comment by my co-founder (We'll call her 'M') who was (Justifiably) extremely angry at me at the time she came up with the number and added it in a post (Of this multi paragraph post, this one line and one number was taken - if memory servers, all context was left out when the blogger cited this as stolen. Which would make sense. The post was berating me for losing the money. That didn't fit the narrative.
What Backs the Story?
Of all of the claims of wrongdoing (Apart from the fine, which is documented and true) - there is no evidence proposed for any of the claims made. All of it hinges on a story told to the blogger by one person, who was another of my co-founders 'We'll call her 'E'. E was either a late teenager or very early 20s at the time. In the founding of 5, E was essential. Before 5 I'd been running a service selling trading signals and selling them at $5 a week subscription. I was generating a lot of business (Working all day, every day and having fun with it. Like I did here for a while, but at that time I really was marketing). 5 - 10 people a day could be signing up. I knew nothing at all about how to structure an online business. No listing of new clients to send emails. Nothing about making membership sites with password access etc. I was working off a Wix site I made myself with no on-boarding system in place. The volume of people joining was crushing me. I could not process them and was getting a lot of PayPal disputes. I wanted to send them the stuff. Just did not have the process to ensure this was being done. E stepped in and saved me on that. She made original 5 website (On Wordpress, I believe it was later upgraded to something else). Set up memberships payments. Automated listing. Also she suggested changing the name to what the company became. E made the work I was doing work. After that, she had varying performance. Her gripe in the blog is she was not paid for helping to found the company. Left out of this is the fact she was not paid because she was head of marketing and we were not getting enough clients. Almost all of them coming from me hitting the DMs and signing people up the old fashioned way. On results of trading, everything was going well (and this was my area). Things were going so well people legit through it must be a ponzi! But we did not have in-flow of clients. On this I again blame myself. I sort of assumed this would all work itself out and did not put focus on fixing problems before they became problems. There was a lot of pressure on everyone. E got into a new romantic relationship. I think she was heavily influenced by this person (I found E to be good hearted on the whole). E and M started to get along less and less. Then E and M seemed to hate each other. It all seemed to come from nowhere, but it quickly got to the point me and M felt it was not working with E, and she thought the same. Pretty much everything is based upon the story told to the blogger by E. As I've said before I found her to be a good heart overall and believe she was influenced into doing what she did, and would not have done it on her own gumption. Therefore I won't rip into her; but if you're reading, 'E' (Won't be lol) - that was a bit naughty, wasn't it? Little 'Economic with the truth'.
Why would the blogger post such big claims with no evidence?
People should ask themselves this on the first read through of the blog, to be fair. If you're a single source reporting on a story - tell how you know it's true. I think this mainly came down to revenge. After the ponzi thing I wrote blog line by line ripping the initial blog to bits. It was written in a very cheeky sort of tone, and what I was saying was right. He then played, "My blog's bigger than your blog" , on which he was right. If you think there is some smoking gun here in any way, just email the blogger and ask them how they know. What evidence were they ever given any money was stolen. There was none.
Money taken from the company:
In it's sad and drawn out end, cash on hand and assets within the company got down to around $10,000 and we were due out over 10* this to clients who I wanted to pay back. I was not bringing in new business (It seemed unethical to do until I fixed old problems - this was a miscalculation. No business was the big problem) and there was the 50K fine. The company was essentially bankrupt. I wanted to use the remaining 10K to have one last ditch effort to re-coup losses, or randomly select clients to pay the 10K to. M didn't. At this time we fell out (Forever). I have no idea what happened to that 10K. I think M probably kept it. At the time I was livid about that - but to be honest, after all the work she did she deserved something. Losing was not her fault. To 'M' if you're reading (Won't be), I'm sorry.
What went wrong?
I was not good enough. When I got ahead I thought I was coasting. I came from a background of having nothing and as soon as I started to make a few grand I assumed I was gliding to being a millionaire. I stopped learning. Stopped improving. I never watered what I planted, and it withered and died. I fail. Turns out you can not coast up a learning curve without ending up on your arse.
European Banks - Where Can I Easily Open a Bank Account?
Choosing a foreign bank to open an account in is a difficult task. Many details must be taken into account so that you don’t run into failure or problems with account operations in the future. Today, we have gathered 7 banks that will easily open an account for you (sometimes even remotely) and will not strictly monitor transactions on it. https://preview.redd.it/s19up259z6951.png?width=3840&format=png&auto=webp&s=0e1b7d2ea22bc9871082ec856f5ab5d7a32d8038 FIO Banka Country: Czech Republic Year of foundation: As an online broker - since 1993, as a bank - since 2010. FIO is the most loyal bank in Europe. There, you can open an account for any type of activity, from FOREX to gambling. There are no extra fees for maintenance or minimum balance and limits. Of course, the FIO does not require documentary evidence of the payments made. Documents required to open an account:
foreign passport and internal passport;
apostille of the Certificate of Incumbency to the corporate director or founder, if the company is older than 6 years;
strictly colored scans of all documents;
account opening term: 2-3 days
Do I need a personal visit to the bank? Yes. After reviewing the documents by the bank, you need to personally visit the department to verify your identity. CSOB Banka Country: Czech Republic Established: 1964 CSOB Banka is the second largest bank in the Czech Republic in terms of capitalization and one of the most influential banks in Europe. There are no restrictions on dollar payments and a minimum deposit. You can manage your account through the online banking. CSOB is loyal to operations via the account, and does not require confirmation by agreement or invoice. Documents required to open an account Personal account:
passport or another identity document.
confirmation of address.
apostilled set of legal documents for the company.
If the company is with a nominee service, remote identification of an individual as a director or shareholder is required. Account opening period: 5-7 days. Do I need a personal visit to the bank? Yes. After reviewing the documents by the bank, you need to personally visit the department to verify your identity. Ceska sporitelna Country: Czech Republic Established: 1825 Ceska Sporitelna is a very loyal bank that does not require confirmation of each payment made. All financial tasks can be quickly solved with the help of Internet banking. Documents required to open an account:
statutory documents for the company (originals);
full extract from the Register without apostille (only for Czech companies);
Certificate of Good Standing with an apostille (for 3+ months companies);
beneficiary's domestic and foreign passport;
certified power of attorney to open an account;
a brief description of the business or website URL for online business;
account opening period: 7-14 days
Do I need a personal visit to the bank? Yes. After reviewing the documents by the bank, you need to personally visit the department to verify your identity. MKB Bank Country: Hungary Established: 1950 MKB Bank is one of the largest banks in Hungary. An account will be opened for free, if necessary, a plastic Visa or MasterCard will be issued. You can open an account for an offshore company, but MKB will refuse this if the company is registered in a country from the OECD black list. Nevertheless, the MKB is quite loyal to the operations carried out on the account.. Documents required to open an account: Personal account:
power of attorney declaration;
Charter and memorandum of association of a company certified by a notary;
Protocol on the appointment of officers;
Certificate of incorporation, certificate of shares and certificate of good condition;
Power of attorney;
Account opening period: 7 days.
Do I need a personal visit to the bank? Yes. After reviewing the MKB package of documents, you must visit Hungary and meet with a bank agent. BOS bank Country: Poland Established: 1991 BOS Bank is a Polish bank. If your company is not older than a year, then account maintenance in the first 18 months will be free. There, you can open an account for offshore companies and any other activities. The bank is loyal to transactions carried out on the account. Documents required to open an account: Personal account:
extract from the registry translated into Polish and notarized;
Account opening period: 14 days.
Do I need a personal visit to the bank? No, the account can be opened remotely. Bank Zachodni WBK Country: Poland Established: 2001 Bank Zachodni WBK is the third largest bank in Poland in terms of assets. The bank is not picky about corporate documents, opens accounts for any kind activities. Documents required to open an account: Personal account:
extract from the registry translated into Polish and notarized;
account opening period: 14-21 days.
Do I need a personal visit to the bank? Yes. After reviewing the documents by the bank, you need to personally visit the department to verify your identity. ING Bank Slaski Country: Poland Established: 1988 ING is the largest bank in Poland. The bank opens accounts for onshore companies and is loyal to non-resident customers in Poland. You can issue a Visa or MasterCard plastic card. Documents required to open an account: Personal account:
Extract from the registry translated into Polish and notarized;
Barclay Stone reviews: Thanks to the pandemic situation the profits of the Swissquote increased up to 120%
Swiss Forex broker drastically improved the prognosis of the half year financial indexes. Swissquote, the Swiss online bank and broker has already joined the whole branch tendency of the later times and improved its own prognosis in terms of the financial indexes in the first half year. These all happened thanks to the pandemic Corona virus situation. "In the circumstances of the total extreme volatility of the financial markets keep on to show a lively interest for all the trading platforms of the Swissquote. During the first months of the year 2020 one could observe a strong volatility at the financial markets, an increased trading activity on the Swissquote trading platform and a massive influx of customers", says the today's release of the Swiss Forex broker. "This caused impressive indexes of the Swissquote in the first six month of the year 2020. The net profit grew up to more than 40% and the profit before paying taxes grew up to 120% in comparison to the very same period of the previous year" is added by the Swissquote. Thus, the net profit of the half year and the re-counted profit exceeds now due to the prognosis of the company SFR 60 millions. The broker would like to remind that due to the previous prognosis which war published on March 17th in this year it is supposed that the trading and profit increase by 10% only. At that times the online broker could already register an impressive interest by the traders for the brands goods and products which shows the customer base itself as well as the volume of the clients facilities of the company accounts. As already said before an extremely high volatility fixed at the financial markets in the very last months added more optimism inside the company themselves. Nevertheless the final indexes of the company activity of the Swissquote (currently registered on the broker list of the Forex Magnets) will be published in the very next half year on the August 11th 2020. Barclay Stone Reviews
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