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fxeconomist

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Posts posted by fxeconomist

  1. Posted

    On 4/30/2025 at 10:34 AM, barako said:

    skrill fees are killing me tbh, skrill withdrawals has fees and additional 4.45% conversion rate to local currency which takes a lot from almost 7% of my profit goes to fees. 

    Then you probably need to convert skrill to crypto, I saw that binance offers p2p service to exchange crypto to skrill and vice versa. This is how I cash out my HFM profits

  2. Posted

    On 4/30/2025 at 10:34 AM, barako said:

    skrill fees are killing me tbh, skrill withdrawals has fees and additional 4.45% conversion rate to local currency which takes a lot from almost 7% of my profit goes to fees. 

    Then you probably need to convert skrill to crypto, I saw that binance offers p2p service to exchange crypto to skrill and vice versa. This is how I cash out my HFM profits

  3. Posted

    On 4/30/2025 at 10:34 AM, barako said:

    skrill fees are killing me tbh, skrill withdrawals has fees and additional 4.45% conversion rate to local currency which takes a lot from almost 7% of my profit goes to fees. 

    Then you probably need to convert skrill to crypto, I saw that binance offers p2p service to exchange crypto to skrill and vice versa. This is how I cash out my HFM profits

  4. Posted

    On 3/28/2025 at 3:01 AM, aimhi said:

    The ewallets can be instant withdrawals like skrill etc or they can also pay through crypto but not tested their crypto withdrawals so far.

    How long does it take to receive HFM's withdrawal via Skrill? less than 24H?

  6. Posted · Edited by fxeconomist

    On 11/4/2024 at 6:24 PM, RJo said:

    I would forget about tinkering with lot sizes in the short-term. I only increase my lot size when it's justified by my growing capital (closed profit). Adjusting lot size on the fly would imply that I somehow know the specific probability of each individual trade succeeding--which I don't. So, I focus on the overall statistical performance of my strategy over every 6 months.

    This doesn't require anything clever. As an example, choose a chart structure (15 minute, 1 hour, Renko, range bar, etc.) where price swings are identifiable to your eye. Load a MACD oscillator onto the chart. Note that there are two MACD's floating around online. The "old" MACD uses a weighted EMA in its calculations while the "new" MACD uses a regular MACD in its calculations. If you're using the old one, focus on the main line crossing the signal line and ignore the zero level. If you're using the new one, focus on the main line crossing the zero level and ignore the signal line. These are your entries.

    Your dynamic exit target is the opposite crossover of whichever MACD lines you're using. Now for the most challenging part... stopouts. You need to determine the number of pips/points/ticks at which price traveled against your entry and did not return in favor of your entry for all trades. These stopout statistics can be collected with pen and paper, which I have arduously done in the past. This is much easier if you can code, backtest, and auto-optimize the stop level.

    The idea is that your dynamic takeprofit is theoretically infinite, and your stop is fixed at a level that is statistically favorable to you.

    Although this isn't really "money managment," it certainly manages your money.

     

    Why not to simply connect you account to myfxbook which will collect all this data automatically for you? The process you described looks tedious and a bit obsolete but may work for you though.

  8. Posted

    On 9/18/2024 at 1:21 AM, aimhi said:

    We should only invest to that extent which we can afford to lose in forex trading however, money management and risk mitigation comes up with spending some time in the live trading markets.

    Yeah agree, that's why I use 1:50 leverage with HFM and pretty tight swaps to keep loss limited as much as possible.

  12. Posted

    On 9/11/2024 at 9:52 PM, aimhi said:

    The key is to learn and trade on a demo account before investing real money into live account. Demo trading helps a lot while they comes up with free virtual funds and real market trading conditions.

    The key reason why traders lose is because they ignore money and risk management practices. If you make mistakes you have to make sure you pay very low price for it. Thanks to HFM webinars I learned for free how to do that

  16. Posted

    Merely a century ago, individuals devoted the majority of their time to securing provisions for sustenance, maintaining clothing, and ensuring the cleanliness and warmth of their homes. Presently, society enjoys ample leisure time and historically unprecedented living standards. However, a prevailing sentiment of discontent persists, often directed at societal structures. The call to action arises from a collective oversight: the realization that our pursuits for achievements or possessions may not inherently lead to greater happiness. In truth, we possess all the elements needed for happiness; a slight shift in perspective is all that is required.

  17. Posted

    On 11/24/2023 at 3:52 PM, barako said:

    I think it was a limitted time only, though the document or the ToS is available online, currently on the website there is only a 20% topup bonus, better yet its a lot safer to contact support directly for clarifications

    Unfortunately yes, such offers don't last for long. But thanks for the recommendation I didn't know about the top-up bonus. Is every deposit eligible for this bonus or only the first one?

  18. Posted

    Indeed, dollar started to feel weak recently as US economy starts to show some some cracks in consumption, investment, labor market strength, etc. Fed is about to achieve terminal level of its restrictive policy stance after which rate cuts should ensue. My view on EURUSD is bullish that's why I keep small long position on Hotforex, hope my forecast is correct. 

  21. Posted

    On 6/1/2022 at 6:27 PM, aimhi said:

    I guess during the news release we can see high volatility depending on the nature of news. Some news are high impact like nfp or fomc which bring more volatility as compared to other low impact news.

    I really like to trade high impact news with Hotforex because volatility offers great short-term opportunities also market imbalances that arise are easier to trade than markets in equilibrium. 

  22. Posted · Edited by fxeconomist

    You can also enjoy a tax advantage when engaging in cryptocurrency speculation through CFDs, like trading with Hotforex. Since no actual cryptocurrency transactions take place, and you simply enter into predictive contracts with your broker, there are no taxable events associated with your activities.

  23. Posted

    Deglobalization can boost commodity prices because it leads to more localized production and trade. When countries focus on self-sufficiency and reduce global supply chains, it can create supply shortages, increasing demand and prices for commodities like oil, metals, and agricultural products. That's why I hold small investment positions in commodities via Hotforex CFDs. Quite cheap and no expiration like in futures 

  25. Posted

    On 7/16/2020 at 6:55 PM, pipsaholic said:

    OK looking for a list of different types of charts some brokers offer.

    Candlesticks, Line, Bar, Renko, Range, Tick, Mountain, Point & Figure, Dots, Invisable (I joke you not), Order flow/Price ladder charts,

    Any others that help you trade?

    Candlesticks are best in my view since many traders use them, which makes it possible to create system based on candlestick patterns. 

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