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fxeconomist

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Posts posted by fxeconomist


  1. On 3/7/2016 at 4:07 PM, adamsmiths said:

    The forex market is the largest financial market in the world. One need not to do daily trading so as to participate in the market. A person exchanging currencies while travelling overseas is also a part of forex trading.

    The forex market comprises of banks, commercial companies, central banks, investment management firms, hedge funds and retail forex brokers and investors. In a forex market, buying, selling, exchanging and speculation on currencies can be done by the participants.

    One must be aware of some of the basic concepts of the forex market before trading in the market. Some of the basic concepts are discussed below:

    1. Following eight major economies: In a forex market, the participants need to follow eight major economies in the world. The eight major power which dominate the forex market are:

    • United States

    • Eurozone ( Germany, France, Italy and Spain are the main)

    • Japan

    • United Kingdom

    • Switzerland

    • Canada

    • Australia

    • New Zealand

    The economies of the eight major powers have the largest financial market. Daily economic data is released from these countries. This data helps in better assessing the economical health of each country and do the trading accordingly.

     

    2. Yield and Return: Trading in the foreign exchange spot market involves buying and selling two underlying currencies. Quotation of currencies are done in pairs, e.g. if the EUR/USD pair is quoted as 1.3500, then it means that it takes $1.35 to purchase one euro.

    Transaction in foreign exchange involves simultaneous buying of one currency and selling of another one. Moreover, there is an interest rate for every currency as has been set by the central bank of the respective country. The trader, on the one hand, has to pay the interest for the sold currency; while on the other hand, one gets the privilege of earning interest on the currency being bought.

     

    3. Leveraging Returns: Leverage as high as 100:1 is offered by the forex market. But leverage should be used wisely as one can earn huge profits if he is correct, else he has to bear huge loss. Nevertheless using stops can cap the losses. Moreover, protection of margin watcher is offered by most of the brokers. Margin watcher is a type of software which keeps a watch on one’ position 24 hours a day and five days a week. Liquidation is automatically done by the software once margin requirements are contravened.

     

    4. Carry Trades: The dynamic nature of currency values has led to the led to the evolution of one of the most sought-after trading strategies –carry trade. In this strategy, a currency with low interest rate is borrowed by the trader. The trader then utilises the fund o buy a different currency which is giving a higher interest rate.

     

    This article is sponsored by fibo.

    Carry trading is great on USDRUB, I do it at Hotforex and reap good profits when the ruble falls a lot. It is a great opportunity to earn if you have patience.


  2. On 7/13/2018 at 5:14 PM, james_traderguy said:

    So I was wondering, what software do you guys generally like? Trade Station, Ninja Trader, other?
    Personally I'd have to say flowshark, it tells where the buyers and sellers are coming in, it's quite powerful.

    For CFDs MT4 is more than enough, good backtesting capabilities, speed, lots of education material on MQl5


  3. On 6/17/2021 at 4:14 PM, analyst75 said:

    I have been corresponding with a mathematically oriented gentleman who is quite brilliant in his approach to the markets but who is very close to going off the deep end. He wrote me the following email:

     

    "I have given the 45 degree - phenomenon a lot of thought. I pretty much would like to know how you figure out the inner workings.

     

    "What I think is:

     

    "(a) The route of the 45 degree cuts the Elliot 3 pivot and the 4 reverse pivot in half. The retracing swing from 3 to 4 (starting off with what looks like a congestion) is the playing field of the insiders. It quickly develops into a squeeze to the downside before the final 5th wave shoots up.

     

    "(b) Those who know what is happening, take full advantage of the less informed by jumping on their resting orders. The key is the knowledge that the 5th wave lies ahead. Then the load of contracts could be transferred to the public's 'greed-panic.'"

     

    While I would like to agree with what he has stated above, I'm not really sure of what he actually said: Are you? I submitted the following answer:

     

    I know virtually nothing about how to count Elliott waves or the meaning of Elliott wave counts. I have no reason to believe in them and many reasons to believe that they are nothing more than what is stated about Elliott Waves. It is a THEORY. Personally, I want to trade based on facts and the reality of what I'm seeing. My belief that Elliott Waves are virtually worthless comes from the results others have obtained from following them. I am very familiar with these results. I know that Elliott practitioners have been dead wrong about the stock market for multiple years running. Elliott wavers missed the bull market of the 1990s. I know that many times they wrongly predicted the rise and fall of the U.S. dollar. I know that people who follow Elliott Wave Theory were wrong about gold and silver for many years, predicting rises as those metals fell to multi-year lows. It is difficult for me to understand why anyone would want to trade based on a theory when they could trade based on what is plainly seen in the markets.

     

    Author: Joe Ross

     

     

    Profits from games of knowledge: https://www.predictmag.com/    

     

    Agree after testing Elliot Waves for three months I returned to S/R trading with Hotforex using RSI as confirmation signal and trading returns went into green again. This was pricey experiment so stick to your approach if it works, lol


  4. On 9/5/2021 at 4:29 AM, theprophe said:

    Hi, so i trade the usual markets, but have been watching crypto not knowing much.After seeing countless times crypto tokens going over 10x,50x, even 100x i had to take a look.I went from trading bitcoin,etherium, to trading smaller stuff like solana,matic, then i found alt coins!

     

    Remember how crazy IPO's were back in the late 90's, thats whats happening now. There are these launchpads, like seedify,polkastarter,safelaunch, and many many more. They allow you to buy in at private prices or before the token go public. These are the one that can go 100x from your price. The only thing that sucks with launchers is you have to buy the launchers token, to get allocation or a chance to win a lottery. This can be many $1000 dollars to get a shot. For instance seedify has guaranteed allocation, for  $1000 of seedify token, you got an allocation of $5 of cyptomeda,of course it went up alot like 10x or something, but still.

     

    Which brings me to pools, like OIG or PlanktonSnowCapital, these places, you dont have to hold tokens, they just take a percentage of your investment, i think around 15-20%. So all of your capital can go towards the private purchase of tokens instead of buying the tokens of launchers.Like go to PlanktonSnowCapital webpage and they have a chart showing you what they have brought out, a 5k investment a couple months ago is now 35k or something.

     

    No matter which way you go, launchers or pools, you have to take advatage of this time of the market, which only comes around in a generation.I never thought i would see the bubble of the late 90's again, this time im going to take full advantage of it!

     

    I have a bunch invested with PlanktonSnowCapital, that is listing late september, ill comeback then and let you know how i did :) BloxMove,Defina,Cryptoblades kingdom,Rocosoft,Orion Money, and Privi.

    Most of the projects are scam because they can't generate profit (even if they aim to do that). As some famous economist said crypto is a solution that seeks for a problem. Most often their application is exotic, they still don't have a market, potential buyers of their services, but this domain is full of hype which attracts fraudsters. It means that the chance of adverse selection is high there. 


  5. On 7/30/2021 at 12:05 AM, aimhi said:

    The movement of the bitcoin is similar to the other currency pairs or commodities however since the bitcoin is in fancy it may take some time to compete with the currencies/commodities.

    Yeah I also noticed that's its correlation with other major asset clases is lower so we can use it as a hedge. 


  6. On 7/30/2021 at 12:01 AM, aimhi said:

    Does your python integration is supported for news trading as well, just wondering how it looks like!

    Yeah it works like a charm basically you just setup a parse bot that checks frequently the website around the time of release, like NFP report. Getting the figure and then comparing it with concensus in economic calendar you make decision buy or sell. It is then executed in MT5, thankfully it offers python bridge so you can connect to it python in 10 lines of code. 


  7. On 6/30/2021 at 10:51 PM, CrazyCzarina said:

    If you are looking forward to obtaining success in Forex Trading, you should have more than one source of income and shouldn't totally rely on Forex Trading.

    Agree, we have to eliminate emotional pressure from trading and the biggest source of terrible feeling of a loss is trading with the money you can't afford to lose. 


  8. On 6/19/2021 at 10:26 AM, CrazyCzarina said:

    CFDs are quite attractive to day traders who would be able to utilize leverage for trading assets that would be more costly to buy as well as sell. CFDs could be quite risky due to low industry regulation, potential lack of liquidity, as well as the requirement of maintaining an adequate margin due to leveraged losses.
     

    Can you suggest reliable liquidity provider which offers CFDs on stocks.I know Hotforex but need other brokers to try cross-hedging strategy. 


  9. On 5/22/2021 at 2:36 PM, barako said:
    • yeah i look at tradingmyview, mt4 is okay as well, many offer different charting sofwares most are paid, depends on what kind of trading u are looking at, i do trade hotforex 

    rally nice that we trade the same brokers, we could share ideas and tips how we can make our trading better. 


  10. On 2/8/2021 at 3:43 PM, CrazyCzarina said:

    In forex trades, spot and forward contracts on currencies are not guaranteed by an exchange or clearing house. In spot currency trading, the counterparty risk comes from the solvency of the market maker. During volatile market conditions, the counterparty may be unable or refuse to adhere to contracts.

    What do you think about CFD trading? Is it reliable enough? In my opinion brokers that offer ECN shouldn't have this issue


  11. Great advice. I would also try to try different broker platforms, because comparing conditions you understand what matters for you. More information about which trading conditions are possible - more ideas how to construct some strategy that will have an edge over market. 


  12. On 12/4/2019 at 12:50 PM, Debby_Tompkins said:

    It would be great if it makes someone laugh. At least your blood volume is rising. 

    I am into bitcoin trading and I help people by giving them knowledge regarding how can they earn money through bitcoin without any risk. That's why I mentioned 'Crypto Trader by profession'

    Thanks

    Bitcoin is a great investment and payment tool, but recent volatility proves that it's also perfect for speculative purposes. That's why I switched almost completely to BTC trading on my Hotforex platform, because volatility gives a lot of intraday trading opportunities. 


  13. On 3/1/2016 at 9:22 PM, EasyTrader_I said:

    Hi All,

    For the last Ten years I have been programming, I specialize working with Easylanguage. I have a very comprehensive knowledge of the TradeStation platform.

    I charge a very competitive rate of $30 per hour. I greatly look forward to working with you to help achieve your goals in the financial markets.

     

    I also have some strategies for Futures(@GC, @SI, @CL, @US, @Y and @FDAX). If you are interested , I can send you the performance reports.

     

    My mail id is :- easylanguage.india@gmail.com

    Skype id :- tradestation_programmer

    Thanks,

    Easytrader_i

    Great however MT4 is more popular trading language among newbie traders because majority start from trading with CFD FX brokers which offer Metatrader platform. I would order an EA from you but it need to work on Hotforex MT4

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