analyst75

USDCHF Breaks Below Its near Term Support Zone on the Level at 0.9926 but Recovers Abruptly USDCHF Price Analysis – October 8 The FX pair breaks below the horizontal zone on the level at 0.9926 but reverses again after recovering from its early selling pressure. The USDCHF was able to find buyers again around the level at 0.9908. Key Levels Resistance Levels: 1.0231, 1.0126, 1.0015 Support Levels: 0.9897, 0.9870, 0.9843 USDCHF Long term Trend: Ranging The price of the pair has moved back towards the moving average of 5 and 13 areas on the level at 0.9950. This area requires to be broken to give buyers more upside potential to move higher. However, the decisive break of the level at 1.0231 is required to indicate bullish resumption. Meanwhile, the medium and longer-term may remain neutral first. USDCHF Short term Trend: Bearish After trending downwards to about 50 pips lower after the open, the forex pair managed to reverse during the session as bulls took control and may exit the day above its opening price. The USDCHF’s pull back from the level at 1.0015 extends lower today but stays well above the lower horizontal zone on the level at 0.9843 support. While still in a long-term uptrend, the short trends have turned bearish already. Source: https://learn2.trade

AUDUSD Discovers Its Potential for the Upside Movement as Buyers Lean on the Key Support Level After discovering its potential for the upside movement, AUDUSD has appreciated against the greenback since the prior trading session. The FX pair had exited the prior session above its opening price after recovering from early selling pressure. Key Levels Resistance Levels: 0.6895, 0.6805, 0.6776 Support Levels: 0.6671, 0.6620, 0.6600 AUDUSD Long term Trend: Bearish Despite trading down to the level at 0.6671 earlier during the previous session, the FX pair had bounced off the horizontal support zone. Meanwhile, its failure to close below the support level might increase the zones’ significance as support going forward. However, if the currency pair breaks the support level, bears could drive the price towards the lower boundary of the horizontal support zone on the level at 0.6620 during the following trading session. AUDUSD Short term Trend: Bearish On the flip side of the 4-hour chart, showing the level at 0.6740 minor resistance intact, it’s intraday bias stays on the downside. And the decisive break of the level at 0.6671 low will resume the larger downtrend. While on the upside, the level at 0.6776 minor resistance is likely to turn bias back to the upside for stronger recovery first, and outlook stays bearish, showing an intact downtrend in the medium and long-term. Source: https://learn2.trade

Lawmakers Pen Down Concerns to the Fed Over National Digital Currency Two United States lawmakers have urged the Federal Reserve to evaluate the possibilities of creating a digital dollar currency. House of Representatives members, French Hill and Bill Foster recently sent a letter to the Federal Reserve Chairman Jerome Powell, expressing the concerns they have on the implications the US dollar would face in a likely scenario where another country or private company develops a widely used digital currency. They asked if the apex bank was exploring ways to develop their version. The details of the letter were first published by Bloomberg Law which recounts how the Fed possesses the right to create and oversee currency policies. The congressmen wrote that the central bank of the United States had it on its jurisdiction to create a national digital currency. They added that they were worried that the importance of the US dollar could be put in a long-term danger by the adoption of digital fiat currencies across the globe. They wrote that the Bank for International Settlements carried out a survey and discovered that 40 countries across the globe have developed or are planning on developing a digital currency. There have been demands for the global financial system to gravitate away from the dollar. Most peculiar of these calls was when the Bank of England governor, Mark Carney proposed that a digital currency supported by a basket of other financial instruments will assist nations in making this change. According to the letter, Foster and Hill wrote that cryptocurrencies are presently used for speculative functions in the United States, but have the potential to function as the traditional currency of the future. Also, they wrote that the country shouldn’t depend on private corporations to create digital currencies. The letter categorically made mention of Facebook’s cryptocurrency project, Libra. They wrote that if this project by Facebook gets implemented, it could eliminate vital aspects of financial administration outside of the United States jurisdiction. The letter went on to cite recent efforts by private corporations like J.P. Morgan and Wells Fargo. Further Suggestions The letter articulates some concerns like what measures is the Fed taking to develop a digital currency, what backup plans the organization were taking if a digital fiat currency gains momentum, what legal or regulatory issues could impede the Fed from assembling a digital currency, what market threats could confront the Fed’s digital currency when it is released and finally, what were the advantages to taking on this project. However, US Reps. Foster and Hill are not the only ones suggesting that the Fed looks into developing a digital currency. In 2018, former Federal Deposit Insurance Corporation Chair, Sheila Bair, likewise suggested that the Fed create its digital currency to prevent disruption from the private sector and other nations. Nonetheless, the Fed is planning on creating a real-time payment system, although it is uncertain if the system is cryptocurrency-based. Source: https://learn2.trade

Hollywood Star Ventures Into Security Tokens As groundbreaking innovations continue to penetrate the finance space, it is almost impossible for this innovation not to spread to other industries. The movie industry is one of such sectors currently experiencing such revolutions. This is due to the invention of distributed technologies like Blockchain, which has brought about the concept of tokenizing everything. Tokenization is the practice of amplifying the liquidity of real-world assets. The idea behind tokenization is the same as stocks or shares, which denotes fractional ownership of stakes in a company. Anything and everything can be tokenized, and many believe it’s only a matter of time before everything is. Daywalker Movie Fund Award-winning actor, director, producer and martial artist Wesley Snipes, is on a bid to capitalize on this advancement with tokenization. The Hollywood actor in collaboration with Liechtenstein Cryptoassets Exchange (LCX), is planning to tokenize $25 million for a movie fund. The project is known as “Daywalker Movie Fund” (DMF) which intends to invest in Wesley Snipes and his production house, Maandi House Studios will create a medium for investors all over the globe to acquire a share in the fund’s production. LCX plans on launching a fully compliant security token offering (STO) with the DMF, which will be represented by the DMF security token, to create a level playing field for both retail investors and Hollywood financiers. Regulatory Perks STOs, like initial coin offerings (ICO), provide value via a digital token. Although, security tokens, unlike ICOs, are developed with a firm foundation of regulatory due diligence. Also, security tokens represent real assets, much like shares in a company or equity in real estate while ICOs offer a token that can be utilized only through specific infrastructure. One major characteristic that gives security tokens its legitimization is it’s time ties to regulatory governance. However, the operational construct of tokenization differs across jurisdictions. In Liechtenstein, where LCX is situated, the regulatory body passed a law dubbed the Blockchain Act. The act virtually provides an explicit legal basis for ownership as well as a safe storage of the security tokens. It also provides strict rules concerning Anti-Money Laundering and Know Your Customer (KYC) requirements. An Increasing Demand For Tokenization Wesley Snipes will not be the first to undertake this journey into movie tokenization. The pioneering body of the concept is tZERO, a Blockchain subsidiary of a U.S. retail company Overstock.com. There is a rising demand for tokenized funding, considering that there is a dire need in the film industry for new avenues for liquidity. Normally, funding in the film industry comes from different revenue streams like hedge funds and individual investors from wealthy individuals. The downside to this in contrast to security tokens is that creates a situation whereby ownership of the finished product is shared with the investor. Source: https://learn2.trade

Despite the Ongoing Trade Dispute, U.S. Manufacturing Records 5-Month High Headline: As the manufacturing segment put up a silent recuperation in September, demonstrating a level of versatility in the more extensive U.S. economy, the trade dispute keeps on negatively affecting the general business standpoint, as per new IHS Markit information. The latest Purchasing Managers’ Index (PMI) overview from IHS Markit demonstrated that U.S. Manufacturing, which is firmly attached to engineering and industrial production, had hit another five-month high, by recording a superior value to anything expected for September. The manufacturing segment process recorded 51.0—up from 50.3 in August and prevailing over the estimated consensus of 50.4. The Minimal development in the business process demonstrates more versatility in the U.S. economy versus that of Europe, where comparable checks demonstrated that euro-region manufacturing kept on contracting—to a great extent because of Germany’s manufacturing segment recording the most noticeably awful crash since the economic downturn, as services development and employment creation likewise eased back. Notwithstanding the bounce in U.S. industrial production, the exporting records have kept on debilitating and industrial facility conditions are the most noticeably after 2009, declared IHS Markit. The general business process prospects, however “displays uncertainty” because of pressures from trade disputes. The market-inspired lull on the manufacturing additionally overflowed into the service segment, as displayed on IHS Markit’s release. The U.S. services PMI came in at 50.9 for September, up from 50.7 in August, yet at the same time lower than the estimated 51.5. The value is one of the most reduced in the previous three-and-a-half years, one more indication of a slowed employment sector. Key Foundation: Another check estimating U.S. industrial production, is the Institute for Supply Management’s PMI, which has demonstrated that the business process reduced in August. While the manufacturing process tumbled to its absolute bottom in three years a month ago, including the China trade dispute whittling down a large part of the segment. Another round of levies in August, achieving additionally cost demands and decreased net revenues, together negatively affected U.S. businesses, as indicated by the ISM. Essential Statement: The chief business economist in IHS Markit, Chris Williamson, remarked on the PMI information: “The overview demonstrates that organizations keep on battling against the challenges of trade stresses and raised vulnerability over the trend. Even though it’s getting marginally, the general pace of development in September stayed as one of the weakest after 2016.” Source: https://learn2.trade

Despite the Ongoing Trade Dispute, U.S. Manufacturing Records 5-Month High Headline: As the manufacturing segment put up a silent recuperation in September, demonstrating a level of versatility in the more extensive U.S. economy, the trade dispute keeps on negatively affecting the general business standpoint, as per new IHS Markit information. The latest Purchasing Managers’ Index (PMI) overview from IHS Markit demonstrated that U.S. Manufacturing, which is firmly attached to engineering and industrial production, had hit another five-month high, by recording a superior value to anything expected for September. The manufacturing segment process recorded 51.0—up from 50.3 in August and prevailing over the estimated consensus of 50.4. The Minimal development in the business process demonstrates more versatility in the U.S. economy versus that of Europe, where comparable checks demonstrated that euro-region manufacturing kept on contracting—to a great extent because of Germany’s manufacturing segment recording the most noticeably awful crash since the economic downturn, as services development and employment creation likewise eased back. Notwithstanding the bounce in U.S. industrial production, the exporting records have kept on debilitating and industrial facility conditions are the most noticeably after 2009, declared IHS Markit. The general business process prospects, however “displays uncertainty” because of pressures from trade disputes. The market-inspired lull on the manufacturing additionally overflowed into the service segment, as displayed on IHS Markit’s release. The U.S. services PMI came in at 50.9 for September, up from 50.7 in August, yet at the same time lower than the estimated 51.5. The value is one of the most reduced in the previous three-and-a-half years, one more indication of a slowed employment sector. Key Foundation: Another check estimating U.S. industrial production, is the Institute for Supply Management’s PMI, which has demonstrated that the business process reduced in August. While the manufacturing process tumbled to its absolute bottom in three years a month ago, including the China trade dispute whittling down a large part of the segment. Another round of levies in August, achieving additionally cost demands and decreased net revenues, together negatively affected U.S. businesses, as indicated by the ISM. Essential Statement: The chief business economist in IHS Markit, Chris Williamson, remarked on the PMI information: “The overview demonstrates that organizations keep on battling against the challenges of trade stresses and raised vulnerability over the trend. Even though it’s getting marginally, the general pace of development in September stayed as one of the weakest after 2016.” Source: https://learn2.trade

Market-Making Bot: How to Choose, Customize, and Set-Up Crypto trading bots are technologies that allow crypto traders to customize a trading medium where their trading strategies are executed automatically at any time of the day. This technology has become popular in the cryptocurrency market and is dubbed “market-making bots”. Market-Making Market-making is the act of buying and selling of digital assets to make a profit from the disparity between the bid and offer prices. Market-making is usually carried out by banks, brokerages, hedge funds, and other proprietary trading entities. However, crypto trading bots are beginning to facilitate increasing numbers of market-making orders, which is a clear indication that the use of this technology is on the rise. How to Choose a Market-Making Bot When it comes to choosing a crypto trading bot that can carry out market-making tasks, there are some key features you need to look out for which includes a sound reputation, adequate security of the bot, possession of quality features, adequate customizability, and affordable pricing. How to Customize a Market-Making Bot Even though the customization and set up process differs across market-making bots, the steps listed below will assist the user in navigating their market-making bot regardless of the software being used. 1- You need to sign up: Once the user has selected their preferred trading software to build their bot, the user will be required to register and then log on to the platform. 2- Select your currency pair: The user will be required to choose a digital currency pair for which they desire the bot to market-make. 3- Decide on the level of aggressiveness: In the market making context, aggressiveness is the mid-price level the user might prefer their bot to trade. 4- Implement risk management measures: Normally, the trading bot software comes with some risk management criteria, like stop-loss limits and other automatic mechanisms that guarantee the protection of the user in situations of sudden and steep price drops and spikes. 5- Run backtests: a lot of crypto trading bots provide testing options for the user to try out their trading strategies with previous historical prices. 6- Live testing: whether or not the trading bot comes with a backtesting option, the user will still need to try out their strategy in live market conditions to see how their strategy fares. 7- Capitalize the bot: once the user is satisfied with the bot’s performance, there is a need to capitalize on the software to begin the profit-making venture. 8- Go live: obviously, the next thing the user will need to do is to launch the bot software. 9- Monitor the not: Finally, the user has to monitor the performance of the bot. Even after the backtesting process, the user is still expected to observe the bot’s operations to decide whether it needs tweaking or not. Source: https://learn2.trade

Bearish Momentum Returns on the EURUSD Just as Worse Than Expected News Release Halt Its Recovery EURUSD Price Analysis – September 23 The eurozone keeps on battling, thus resulting in selling pressure on the EURUSD pair, as fragile worldwide conditions and the U.S-China trade dispute have negatively affected the manufacturing sector in Germany and the remainder of the alliance. On the off chance that the U.K. leaves Brexit without a bargain, the EU economy will likewise be influenced and this could dampen sentiment. Key Levels Resistance Levels: 1.1412, 1.1210, 1.1162 Support Levels: 1.0955, 1.0926, 1.0339 EURUSD Long term Trend: Bearish In the daily picture, the downtrend from the level at 1.1412 (high) is still in progress. Likewise, the prior rejection of the horizontal resistance zone from the trendline also maintained its bearishness. Meanwhile, a further fall should be seen to the level at 1.0926 low and a decisive break there will target the low on the level at 1.0339. Towards the upside, a break of the level at 1.1412 resistance is needed to indicate medium term bottoming. Otherwise, its trend will stay bearish in case of rebound. EURUSD Short term Trend: Ranging The intraday bias in EURUSD remains neutral as consolidation from the level at 1.0926 continues. Its trends stay bearish with the level at 1.1162 resistance intact and further fall is expected. However, on the downside, the sustained break of the level at 1.0926 will resume a larger downtrend from 1.1210 past the low on the level at 1.0926. Source: https://learn2.trade

China’s New Cryptocurrency China plans to release a new digital currency which would bear some similarities to Facebook’s Libra coin. It would be usable across several platforms like WeChat and Alipay. In a recent interview with the Shanghai Security News on the 6th of September, the deputy director of the People’s Bank of China, Mu Changchun, stated the purposes and the need for the new digital currency. He stated that the central bank needed to evolve from the use of traditional paper currency and delve into electronic payment methods which are making strong advances around the world. He said that the digital currency would be a realistic way to protect monetary sovereignty and legal currency status, stating that this digital currency initiative was a way of planning for a rainy day. He also mentioned that digital currency would be as safe as the traditional central bank-issued paper notes and that it could even be used without requiring an internet connection. This offline feature is one of its major selling points as monetary transactions can still be carried out even in the face of communication breakdowns resulting from natural disasters like earthquakes, tsunamis and so on. In 2014, the Chinese central bank set up a research party to explore the possibilities of a China-based digital currency to reduce the costs of producing and circulating paper money, which in turn would boost policymakers’ control over the supply of money. Information about the development of this new digital currency was unknown to the public until last month when Mu announced that the innovation was almost ready. US-based financial magazine Forbes has made claims that the currency would be ready by November 11. Analysts are saying that the announcement made by social media giants, Facebook on the release of its digital coin, Libra, is the reason for the acceleration of the push towards digital currency by the PBoC. Mu made mention of how the new digital currency would strike a balance between allowing anonymous payments and preventing money-laundering as compared to Libra. Although the Chinese digital currency may bear some resemblances with Libra, it would possess characteristics that even Libra didn’t have. Facebook’s Libra Facebook’s Libra has sparked a lot of worries among global regulators that it could become the predominant digital payment format and could become a medium for money laundering considering the social media’s wide reach. Libra is said to be a digital currency that would be backed by several real-world assets, including bank deposits and government securities, and it will be held by a network of stewards. The structure of Libra is predicated on promoting trust and to stabilize its price. Finally, Mu further discussed the superiority of the digital currency over altcoins was that others could go bankrupt and cause its users huge losses. Thus he said, can never be the case of PBoC’s new currency. Source: https://learn2.trade

Facebook’s Libra To Apply For Licence In Switzerland Swiss financial regulators have signaled that Facebook’s cryptocurrency, Libra is mandated to meet up to extra requirements besides acquiring a payment system license before they can begin operations in the region. In a recent press release, the Swiss Market Supervisory Authority (FINMA) explained that the diverse services projected by Libra have created the need for adding the requirements being imposed. They stated that due to the issuance of payment tokens by Libra, the operations planned by Libra would clearly exceed those of a pure payment system and therefore should be subjected to such extra requirements. The Extra Regulatory Requirements According to FINMA, the extra requirements would be targeted specifically at liquidity, risk concentration and capital allocation. The financial regulators of Switzerland have also noted that the management of Libra is another element necessitating the demand for Facebook to meet extra requirements concerning its cryptocurrency initiative. In the launch of the Libra white paper in June, Facebook noted that the reserve would be controlled by a web of custodians who would be spread across different geographies. The so-called custodians will be mandated to possess an investment-grade credit rating. Also, Facebook noted that the real assets used to back the Libra cryptocurrency would be a selection of low-risk assets such as bank deposits and government securities. What Form Will these Extra Libra requirements take? According to FINMA, the extra regulatory requirements that Libra would have to meet would be nothing different from what other participants in the financial markets have to adhere to. For example, Libra would be expected to be exposed to certain bank-like rules such as a large simultaneous number of withdrawals of Libra coin by users would have to be palliated by the application of certain bank-like regulatory requirements. This means that Facebook would be required to obtain a banking license. This idea has been pushed for in the past by U.S. President, Donald Trump. FINMA also mentioned that Libra’s international range will mandate a globally coordinated approach. This new development would drastically delay the launch of the cryptocurrency. U.S. Pressures Switzerland over Libra Cryptocurrency Switzerland is under intense pressure from the United States to ensure that its cryptocurrency regulations are not prone to misuse. Facebook chose the Central European nation as its hub because of the country’s progressiveness towards FinTech. According to a report by the Wall Street Journal, officials from Switzerland and U.S. Held a meeting in Switzerland earlier this week, where they discussed matters surrounding the new cryptocurrencies regulations. The U.S Undersecretary of the Treasury for Terrorism and Financial Intelligence, Sigal Mandelker, emphasized his concerns over the need to have regulations strong enough to fend off bad actors. He mandated that the Swiss handle these concerns with all importance. Source: https://learn2.trade

AUDUSD in a Continuous Bearish Market Breaking past Key Technical Support Level at 0.6740 AUDUSD Price Analysis – August 29 The FX pair is moving lower gradually for the 3rd day in a row, during the past 24 hours, the Australian Dollar has depreciated against the US Dollar, and subsequently closing below its opening price while unable to hold early session gains. Key Levels Resistance Levels: 0.7085, 0.6909, 0.6823 Support Levels: 0.6676, 0.6620, 0.6600 AUDUSD Long term Trend: Bearish In the bigger picture, today’s close may mark the lowest recorded closing price since the beginning of the year, with room for more downside. The potential target for bearish traders within the next 24 hours of trading will be on the level at the 0.6676 area. Selling could accelerate should prices move below the close-by swing low on the level at 0.6676 where further sell stops might get activated. The trend is bearish, showing an intact downtrend in the medium and long-term. AUDUSD Short term Trend: Ranging On the flip side, the AUDUSD intraday bias remains neutral for the moment. On the upside, a break of the level at 0.6823 minor resistance will extend the rebound from the level at 0.6676 low. However, the upside should be limited below the level at 0.6909 support turned resistance to bring fall resumption. Otherwise, the AUDUSD currency exchange rate will most likely continue to trade south today.

EURJPY Turns Lower Again After a Bullish Rebound, Now Pushing Through Key Support Level at 117.00 EURJPY Price Analysis – August 30 EURJPY pushes through the key area, past the horizontal line on the level at 117.00 during today’s trading session although on Thursday the common European currency appreciated against the Japanese Yen with almost 59 points to the upside. Key Levels Resistance Levels: 124.03, 121.66, 119.59 Support Levels: 116.59, 116.00, 114.84 EURJPY Long term Trend: Bearish Showing on the daily time frame, sellers have managed to take out the key technical support horizontal line on the level at 117.00 during today’s trading session. EURJPY is staying in consolidation from the level at 116.59. However, in the case of stronger recovery, the upside should be limited by the level at 119.59 resistance to bring fall resumption. The trend is bearish, and it’s showing an intact downtrend in the medium and longterm. EURJPY Short term Trend: Bearish On the 4-hour time frame, given that the currency pair has breached the key technical support horizontal line on the level at 117.00, most likely, bearish traders might dominate the EURJPY pair during the following trading session. As it is, intraday bias remains bearish and on the downside break of the level at 116.59 will resume a larger downtrend to the level at 114.84 medium-term support. Though, a break of the level at 119.59 will indicate short term bottoming and bring stronger rebound. Source: https://learn2.trade

Near Term Outlook Unchanged as AUDUSD Trades Weaker AUDUSD Price Analysis – August 22 The Aussie is holding weaker so far with the yuan softer on the day on a softer note for the equities and treasury yields. However, yuan has a relative effect on USD as the PBOC fixed the yuan weaker again today, reaffirming the notion that they will allow the currency to weaken but not too quickly. Key Levels Resistance Levels: 0.7205, 0.7085, 0.6827 Support Levels: 0.6748, 0.6676, 0.6620 AUDUSD Long term Trend: Bearish But as seen in the daily picture above, the near-term picture in AUDUSD remains unchanged despite the pair slipping to session lows on the level at 0.6748 currently. Both buyers and sellers have more work to do to gain more momentum to push prices out of the downward range since last week. While the forex pair is experiencing a stall, this could just be a correction, as both the medium and long-term trends are still bearish. AUDUSD Short term Trend: Ranging However, AUDUSD needs to break the monthly support zone on the level at 0.6676, which is currently providing support for the momentum on the pair at the level at 0.6748. The currency exchange rate will most likely continue to trade downward and flat for today waiting for the required volatility to change the direction.

Staying Within Previous Boundary EURJPY Continues to Trade Within a Range %2> EURJPY Price Analysis – August 23 In today’s trading session, the common European currency traded sideways against the Japanese Yen. The currency pair was trading below the moving average 5 and 13 since yesterday’s trading session. We may see bearish traders pressurize the currency pair towards the level at 117.50 before the end of today’s trading session. Key Levels Resistance Levels: 123.01, 119.88, 118.33 Support Levels: 117.65, 117.50, 117.00 EURJPY Long term Trend: Bearish In the daily picture, the EURJPY pair may most likely maintain the price range during the next trading session. Alternatively, a breakout may occur downwards. While the exchange rate has been trading within the range of the level at 118.33 and 117.50 since mid-August. The trend is bearish, showing an intact downtrend in the medium and long-term. EURJPY Short term Trend: Bearish Today’s trading range has been going negative and more, and that’s below the last trading month’s daily average range. On the flip side, we may see a change in trend with renewed upward strength. Buying could accelerate should prices move above the close-by swing high towards the level at 118.33 where further buy stops might get activated. Although with the level at 119.88 resistance intact, near term outlook remains bearish.

AUDUSD Market Dragged Lower on Bears Dominance AUDUSD Price Analysis – August 15 The bears were in full control moving the market lower in the prior session, although in the present session we see the pair found buyers around the level at 0.6748 for the 4th day in a row while the pairs bear dominance is evident falling to lowest close since the beginning of the year. Key Levels Resistance Levels: 0.7297, 0.7207, 0.7085 Support Levels: 0.6748, 0.6676, 0.6620 AUDUSD long term Trend: Bearish In the bigger picture of the daily time frame, the decline from the level at 0.7207 (high) is seen as resuming the long term downtrend from 0.7297 (February high). Firm break of the level at 0.6876 (low) should confirm this bearish view. On observation, further fall may be seen to the level at 0.6620 (low) next. On the upside, the break of the level at 0.7085 resistance is needed to be the first sign of medium-term bottoming. Otherwise, outlook will remain bearish even in case of a strong rebound. AUDUSD short term Trend: Ranging On the flip side of the 4-hour chart, the AUDUSD is staying in consolidation from the level at 0.6676 and it’s intraday bias remains neutral first. On the upside, the break of the level at 0.6827 will extend the rebound. But upside should be limited below the level at 0.6909 support turned resistance to bring fall resumption. On the downside, the break of the level at 0.6676 may target 100% projections from the level at 0.7085 to 0.6827 from 0.7085 at 0.6620 level reflecting on the daily chart.

EURJPY Approached Recent Swing Lows, Likely to Breach the Low of the Year on the Level at 117.50 EURJPY Price Analysis – August 16 The pair depreciated again in value against the Japanese Yen. The currency pair during the mid-week breached both the upper and lower horizontal lines on the moving average 5 and 13 while completing another lap on the low in today’s session towards the low level at 117.50. Key Levels Resistance Levels: 123.01, 121.40, 119.91 Support Levels: 117.50, 117.00, 114.84 EURJPY Long term Trend: Bearish The Daily time frame displays the EURJPY at the low, showing the pair is also testing a swing area on the level at the 117.50 to the level at 118.16 below the moving average 5 areas. The price attempted to dip below the area on August 12 to the low for the year on the level at 117.50, but could not keep the momentum going. The swing area was reestablished as support on August 13 and again today However, buyers are trying to lean against the low level at 117.50, on the retest and hoping for a quick bounce. The trend is showing a bearish outlook in the medium and long term. EURJPY Short term Trend: Ranging On its Intraday, the bias in EURJPY remains neutral for the moment. With the level of 119.91 minor resistance intact, further decline is in favor. Although a break of the level at 117.50 will resume a large downtrend to the level at 114.84 support next. However, on the break of 119.91 resistance will indicate short term bottoming. A stronger rebound should be seen to the horizontal resistance line now at 121.40.

WHEN A CHECK/DRAFT IS PAID INTO YOUR ACCOUNT They say it’s a rule from CBN. When a check/draft is paid into your account, especially from someone using another bank, you will receive a credit alert. The credit alert will be there as an SMS alert, email alert and if you even login to your Internet banking area, you see it there. The name of the sender is not included. THE STATUS OF YOUR CREDIT The reality is that, the credit will never be added to your available balance. The book balance would be different from the available balance and you won’t be able to use it until after 48 hours. This would give your bank the time to confirm the cheek/draft. If it is genuine, the money would be added to your available balance. If it’s fake, the money would be removed from your account. Sadly, most members of the public are not aware of this fact. Once many people see credit alerts from their banks, they believe it’s real money and they fall into traps. And scammers know that most people don’t know. HOW BANKS AID AND ABET SCAMMERS Some banks will send credits alert to you, as soon as a check is deposited into your account. This is wrong, and it’s the loophole that the scammers capitalize on. Why should banks send credits alerts for checks that have not been cleared (checks that have not been confirmed)? It currency takes up to 48 hours to confirm a check or draft and banks should not send alerts to their customers until that is done. So, if the checks are later proven to be forged/spurious, the money would then be removed from your account. Many customers are not aware of this. Sane employees of sane banks, know that it saves a lot of things, when a check/bank draft is confirmed before alerting customers. If the one who pays, or the payee is really in a hurry, then they should look for other ways to transfer money. Yes, there are other and better ways to transfer money… And insisting on draft/check should raise suspicion. A bank that alerts customers without confirming a check is really adding and abetting scammers. SCAMMERS ARE DIFFICULT TO CATCH Yes, scammers are difficult to catch. Be suspicious of anyone who changes their numbers too often. Once they dupe someone and the person is threatening them, they remove the SIM and that person can never reach them again. A scammer can pay one-year house rent and spend only a few months - only to change accommodations. Changing offices is not a big deal to them. They try their best to erase all traces to them and they do their best not to come in your way again, forever. They’re good at forging documents and using fake addresses and fake things. Until you’re convinced that you’ve been duped, they’ll be giving you guarantee that all is well, and no problem and anything going wrong would be corrected. Meanwhile, while they’re fooling you that there’s no problem, they’re packing away from their locations. I can tell you that some (and most of these scammers) are married with children. Some of them are elderly people. Some of them are really gentlemen in society and they still dupe people. They know about the loopholes in Nigerian laws and they know that if you can even catch one of them, you can never catch the rest of them. WHAT NIGERIAN BANKS AND CBN CAN DO CBN should instruct Nigerian banks that they should stop giving alerts to customers until the bank drafts and checks paid into their accounts, are confirmed to be valid. If a customer or those who may think they’re in a hurry, then they should use an electronic method or direct cash deposit to pay. Yes, if they think they cannot wait for 48 hours or you can’t wait for 48 hours, for the bank draft to be cleared, then they should use another means of payment. In this digital/electronics payment age, when banking technology has advanced so much, how can someone insist on using a bank draft or check to pay people? Bank officials that don’t alert customers or put “locked” credits in their accounts until the checks have been cleared, are saving lots of lives. Bank officials that send credits alerts, when checks/drafts have not been cleared, are really not doing the right thing. When banks start to refuse to credit or alert any customers (based on drafts or checks brought in their names), until the checks and the drafts are cleared and confirmed to be genuine, then scammers who forge checks and drafts will go out of the business. That’s the only way. WHAT SCAMMERS DO AND HOW THEY BEHAVE When people want to scam you, they usually pose as honest, dependable and trustworthy people. They do everything in their capacity to prove to you that you’re safe when doing business with them. They’ll always tell you that they’ve been duped in the past, and they don’t want to be duped again. They’ll be asking you to confirm that you’re honest and safe to do things with. They pretend to be very religious. They pose like lawyers, accountants, bishops, imams, etc. They claim to be holding very high positions in society. They claim to have international experience and connections. They “prove” to be close friends with those who’re working at Chevron, Head of Bureau the Change or a senior nurse at LUTH. etc. They put on corporate dresses and use cars to deceive people. They pretend to be who they’re not. They assume titles of the positions you respect. They spend a lot of energy, days and resources (which could have been channeled into other productive things) trying to dupe you. The best way they get you is through someone you know very well. They may be a family member, a church member, a neighbor, a friend, a customer, etc. Someone you think you can trust. They will come to you through that person, as the one who introduces them to you. You won’t know that the person has a money sharing deal with the scammers. The premise is: The person you know, who introduces others to you, usually for business or contracts or projects, is presumed by you, as someone who will not deliberately betray you, because you’ve been dealing together for some time. Some of them may call you through the phone number of the person you know, who introduces you to them. Sometimes, they insist on using drafts or checks only, to pay you, for a flimsy reason. No matter how, they won’t give up on you until they succeed in duping you. You won’t know what people are capable of doing, until you find yourself at their mercy. The best thing is not to fall into their traps in the first place. HOW THE PUBLIC CAN PREVENT THIS SCAM One of the most effective ways to stop these scoundrels from their usual business and from destroying people’s life, is to create awareness and educate the public on how to guard themselves against these people. 1. No matter what they say… No matter what they claim to be… No matter where they come from… No matter how they try to convince you… NEVER NEVER accept bank draft or check payment from anybody or any company or organization. Never allow such a thing to be used to pay money into your account. 2. If no-one can do business with you unless they use a check or a bank draft, please forget about that business, no matter how “safe,” attractive or lucrative it may be. 3. If they cannot pay by cash or electronic money transfer, then they should forget about doing business with you. Or they can use the draft to pay one of their own people, and then the person can pay you with cash or electronic transfer. 4. Prevention is better than cure. It’s better to be safe than to be sorry. It’s better not to make money or not to do business, than to do what you will regret for the rest of your life. 5. If you must accept a bank draft or a check, please disregard any alerts that come to you in any form. Wait for at least, 72 business hours, and then, contact your account officer to confirm if the money from that check has been cleared and added to your available balance. You must ensure that you are able to use that money before you deliver anything to those who used the checks/drafts to pay. Beware of anyone making it seem to be in a hurry to do business with you. If they’re really in a hurry, then they must use another means other than a bank draft or check to pay you. Never release anything or send anything until you’re able to confirm that you’re completely safe. Please save people from penury and financial ruin. Save them from pains and losses. Share this information on websites, social media, WhatsApp, Skype, Telegram and Facebook groups. Forward it to your exchangers and their customers and all those who deal in goods and services in return for payment. You don’t know whether the next person you’ll save is your loved one. Save someone today with this information. Thanks for reading….

The best VPS will have all the features listed below: The best cloud VPS services are not for everyone. They’re for very important people only. Every VPS Includes: 1. Gigabit Transfer 2. Unlimited Sites 3. Dedicated IP Addresses (multiples IPs) 4. CloudFlare CDN 5. Server Secure Advanced Security 6. Integrated Firewall 7. Local Backups 8. DDos Attack Protection 9. Panel/WHM or Plesk Onyx Available 10. Root Access 11. Easy Scalability (upgrade or downgrade) 12. 100% Network and Power Uptime SLAs All VPS hosting isn’t created equal. ItuGlobal's managed virtual private servers (VPS) provide you with the power of a dedicated server and the flexibility of cloud hosting – and they all include support from the best customer support available to assist 24/7/365 via phone, email, and chat. More info here: https://www.instantforex.com.ng/vps.php

“There’s nothing we love more than helping traders make more money.” Rule-based discretionary traders are among the best traders on this planet. Our CEO (with 12 years of experience) is the one behind the system. The system used for ItuGlobal Forex PainKiller is derived from many years of experience in the Forex markets. It’s a swing cum position trading strategy, which seeks to take advantage of important areas where prices may go out of balance. We use stops, but no take profit targets. A minimum of 5 positions are held at a time, for a minimum of 2 weeks. Some trades are left for one month or more. Over 95% of traders frequently or eventually experience pains of losses. Forex Painkiller is designed to relieve the pains you experience in the markets, using safe position sizing and optimal entry criteria. Be aware that many great trading systems are counter-intuitive —which is why they work. The system completely goes against how many people tend to view and approach the markets. More info here: https://www.instantforex.com.ng/forex_signals.php PROFITABLE TRADING SIGNALS SERVICES – INSANE ACCUARCY

Please send this message to the people you love if you don’t want them to be scammed. Also alert the authorities before they bring more pain and more ruin to innocent Nigerians. They created a WhatsApp group that looks professional and they look for victims by inviting them on social media. They can comment on Facebook post of someone who has thousands of followers or they tag people with many friends so that innocent victims can join their groups, using the WhatsApp Invite link, and telling people they can be rich overnight. What’s their message? “WE WILL DOUBLE YOUR MONEY WITHIN ONE HOUR.” Send a minimum of 10K (there is no maximum) and get 100% within 40 minutes. You can then re-invest the money. They don’t have any websites they can really show. What they give you doesn’t exist, and they claim they don’t allow people to comment so people don’t spam them. This is partly correct. But they also don’t want people to comment that they’re fake. You’re no allowed to comment in the group. Only the 3 admins below can do that. +234 806 642 0723 – the head of the criminals +234 816 427 2418 – a partner in crime +234 816 563 1317 – a partner in crime This is their WhatsApp invite link: https://chat.whatsapp.com/IURDuulYVex4j5rcRZ1emg This is one of their adverts on Facebook: “It's an investment platform were market woman and business men and also a student do invest and they are making it, It's an investment platform were you get 2times of what you invest, We are just using it to assist the citizens of the country for the betterment of life, It's a newly launched and it's really paying, It's very genuine and authentic platform, Like if you invest from 10k up word to 50k you will receive your double payment in the next 1hour you can chat us this Whatsapp Link below https://chat.whatsapp.com/IURDuulYVex4j5rcRZ1emg. Note no scamming of each other and your payment is guaranteed.” – Felix Blessing (apparently one of them). Her Facebook profile is: https://web.facebook.com/felix.blessing.5201 They’ve no legitimate business model. Sometimes, they enable the group to comments, usually for a few minutes. The comments are from those who testify that they have invested and have been paid, giving Glory to God, and promising to invest again. Admin will also reply by congratulating them. The screenshots they show you are really, really forged. And for those who’re real, it’s the screenshots of the alerts from the monies sent by their victims. After a few minutes of testimonies, the group is disabled again so that people cannot comment. Needless to say, those who testify are also part of them. The pictures they use on their WhatsApp profiles are fake. You can only private message them. So if you realize that you’ve been duped, you cannot alert others in the group. You’ll just be blocked privately. Those numbers don’t mean anything to them. If you raise too much dust, they can easily remove the SIMs and start using another lines while looking for more victims. If 10 people leave the group, 30 people will be added, because Nigerians want to get rich quickly. Is that not the type of prayers they offer in the church (riches they don’t work for)? They’ll try their best to persuade you, like saying “You’re in safe hands,” “Calm down.” “I’m a Christian.” Give us a benefit of the doubt.” “You have nothing to fear.” Etc., etc. These 419 people belong to a large network of different players for a common purpose: to get your money. They appear Godly, religious, serious, sincere, convincing, rich, influential, with lots of high-security professions, until you fall into their traps. They may also be using delay tactics after you’re duped. It’s when you begin to threaten them that they block you and remove their SIMs. Really successful people don’t reveal their secrets. If they can really double money every 40 minutes, they don’t need to start looking for people to help. No-one loves you to the extent of persuading you to benefit from the secrets that can make them billionaire. Someone turns 30 USD to 60 USD in 40 minutes. If that can be achieved, the whole money in the world will go to the person in less than one month. But this is a lie. I don’t know when Nigerians will stop being gullible. People like this should not be allowed to live in the society.

I got an email over the weekend asking about the correlation if any between gold and the AUD and to be honest I didn’t know if there was any relationship between the two other than the long bow stories generated by economists. So I decided to have look. Whenever you start to look at the relationship between instruments you need to first define what you are looking at. The email I got implied that they looked the same at present therefore this implied some form of relationship. At a glance both instruments at present seemed to be forming some form of broad congestion but this raises the question as to whether this a relevant observation since it would be possible to find hundreds of instruments that currently displaying the same pattern. However, a simple analogy will suffice to put this into context. If you have two cars driving side by side down a road this does not imply that they have either come from the same place or more importantly mean that they are heading towards the same destination. Correlation between instruments is more nuanced than simply observing that they look the same. Correlation can be broken down into two parts, price correlation and returns correlation. Price correlation looks at whether prices move together with any degree of regularity and traders often stop their analysis here because they assume that if they move together then the impact of either an account or trading system will be the same. The issue with this is that it is not representative of the full picture. There is a second arm to correlations and this is the idea that returns between instruments can be correlated. It is important to note that it is possible for an instruments to have very high price correlations – in simple terms they look similar but have very different returns correlations. It is returns that matter to an account not whether something looks the same as something else. When breaking down correlations I like to ask a simple question – what does the value of $1 look like if invested into each instrument since this takes into account their differing historical returns and unpacks any link between these returns. As you can see from the chart the trajectory of $1 invested into either instrument shows at times a wildly diverging path which was exacerbated during gold’s Bull Run from 2008 and this raises the question for traders as to which possible returns would you like to expose your portfolio to. The issue here is not so much whether instruments look the same and have the same set up but rather what potential impact will trading them have upon your account. It is also quite easy to understand the differing nature of these returns by reference to the environment within which instruments exists. Metals such as gold are free from Government interference – they can find their own level. Currencies are not free from such intervention, the fate of the AUD is intimately linked to Government policy and this ultimately puts boundaries around where the currency can go to. For example it is impossible for a currency pair to start its run at $0.75 and for it to be $7.50 three months later – this sort of move is the preserve of equities. So outside of currently looking the same my answer to the question as to whether these two instruments share any meaningful connection for traders I would have to say no. There will also be someone who talks about the narrative behind the relationship between commodities and a given currency but my response to that is that this is an irrelevancy. Traders are not interested in stories or whether things look the same, they are or should be interested in returns. You can view the charts attached to the articles here: https://www.tradinggame.com.au/correlation-between-gold-and-the-aud/ Author: Chris Tate Article reproduced with kind permission of TradingGame.com.au This piece is ended with the 3 quotes below: “The main message I want traders to understand is how important the disciplined execution of a well thought out trading plan is in today's markets.” – Andy Jordan “When you are overconfident, you are ripe for a major setback in the market.” – Joe Ross “Every system begins in drawdown”. – Chris Tate www.tallinex.com wants you to make money from the markets

Weekly Trading Forecasts for Major Pairs (December 17 - 21, 2018) Here’s the market outlook for the week: EURUSD Dominant bias: Bearish This is a bear market, although the bearishness is not that strong. Price has been going downwards gradually, targeting the support lines at 1.1300, 1.1250 and 1.1200. These targets may be reached soon, but price may not go seriously below them as a strong reversal is expected to happen anytime, which will accompany some form of weakness in USD. This is what might bring about a bullish bias. USDCHF Dominant bias: Bullish USDCHF is bullish in the long-term, and neutral in the short-term. Nonetheless, looking more closely, it is revealed that price is a kind of rising gradually, and generating a “buy” signal, which would eventually become significant in case the market continues moving upwards. A meaningful bearish movement cannot be seen unless there is a considerable amount of loss on Greenback stamina. GBPUSD Dominant bias: Bearish There is a Bearish Confirmation Pattern on the Cable as bears continue to frustrate bulls’ effort to reverse the trend and push price upwards. Apart from Brexit and political news surrounding the UK, the US dollar stamina is preventing the market from going upwards. Once bears give way, there may be a significant rise in the market. Right now, the bearish bias remains in place and long positions are not currently recommended. USDJPY Dominant bias: Bullish This currency trading instrument is bullish in the long-term, and neutral in the short-term. The bullishness is not that great as there has not been a significant directional movement in the market. A rise in volatility remains a possibility before the end of this week or next week. Further movement to the upside will result in more emphasis on bullish outlook while a significant drop from here would result in a bearish outlook. EURJPY Dominant bias: Neutral The bias on this cross is generally neutral, as there has not been a significant directional movement for the past several weeks. It is possible that this neutrality would continue until the end of this year because trading activity is expected to thin out (unless there is a breakout between this week or next). For the neutrality to end, price would need to go above the supply zone at 131.00 or below the demand zone at 125.00, and this will no doubt, require a strong bullish momentum. GBPJPY Dominant bias: Bearish There is a confirmed bearishness (Bearish Confirmation Pattern) on this cross, because of the weakness in GBP. This trend will continue until it is clear that things are no longer bearish. That will be this week or next, and before that happens, there could still be at least, a movement of about 200 pips towards the south. This forecast is concluded with the quote below: “However, if a trading strategy has been proven to work over the long run, with a quality risk to reward profile, it needs to be adhered to no matter the way trades play out. Ask yourself a question: is it the trading strategy producing the results or the trader producing the results?” – Sam Evans Source: www.tallinex.com

Technical Reviews for Gold and Silver (December 2018) GOLD (XAUUSD) Dominant Bias: Bullish Gold has been making attempts to go upwards this month. The attempt started on November 13, when price reached the monthly low of 1195.90, and since then, price has gained roughly 5200 pips. This has generated a bullish signal in the market (both in the long-term and the short-term). The bullish signal is supposed to be sustained until the end of the year as price gains another 3000 pips minimum, thereby creating a huge Bullish Confirmation Pattern in the market. Short positions are not currently recommended. SILVER (XAGUSD) Dominant Bias: Neutral Unlike Gold, which has had a sensible bullish signal on it, Silver remains neutral, with no directional movement in the last few weeks. In the long run, the neutrality has been in place since August 2018. Although there seems to be some noticeable bullish effort in the short-term, that is not significant enough to result in a bullish signal, unless price goes above the supply zone at 15.0000, which would require some determined buying pressure in the market. While the current consolidation will probably continue for some time, the trend is expected to end before the end of this year, leading to a breakout that will most probably favor bulls. Source: www.tallinex.com

Weekly Trading Forecasts for Major Pairs (December 3 - 7, 2018) Here’s the market outlook for the week: EURUSD Dominant bias: Bearish The bias is neutral in the short-term and bearish in the long-term. Last week, price swung upwards and downwards without having a directional movement. That is going to change this week, as a prolonged directional movement is expected, which would most probably favor bulls, as price is approaching major support lines at 1.1250 and 1.1200 (areas where further bearish effort will be rejected). USDCHF Dominant bias: Bullish Although inversely, when compared to the EUR/USD, this pair is neutral in the short-term and bullish in the long-term. The market also moved upwards and downwards last week, without any clear direction. This week, a clear directional movement is anticipated and that would most probably favor bears. This does not mean there cannot be rally attempts, but it would meet a strong hindrance at the resistance levels of 1.0050, 1.0100 and 1.0150. GBPUSD Dominant bias: Bearish This is a bear market – both in the long and the short term. Bullish efforts have proven abortive as the market retains its bearishness. On Friday, price closed at 1.2744, and it may go further downwards towards the accumulation territory at 1.2700, and below that. However, the further southwards the price goes, the higher the probability of a bullish breakout when it does happen, and that will be strong when it happens. USDJPY Dominant bias: Bullish USDJPY is slightly bullish – with a kind of precarious Bullish Confirmation Pattern in the market. Further rally from here will result in a stronger Bullish Confirmation Pattern; while a southwards movement from here will result in nullification of the Bullish Confirmation Pattern, which may harbinger a “sell” signal in the market. Either of the aforementioned scenario will materialize this week, for a rise in momentum is expected. EURJPY Dominant bias: Neutral This is a neutral market, which has been consolidating for the past 3 weeks. The consolidation phase is bounded by the supply zone at 130.00 and the demand zone at 126.00. As long as price is within that supply zone and that demand zone, the consolidation phase will exist. On the other hand, there should be an end to the consolidation phase before the end of the week. It is after that that winners will be determined; either the bull or the bear. GBPJPY Dominant bias: Neutral This is a flat market, which has been particularly flat since the middle of November 2018. There is supposed to be an end to the flatness this week, because a rise in the momentum of the market is expected. The most probable direction would be skywards when a breakout does occur, because there is a high probability that GBP will gain enormous stamina. The supply zones at 146.00, 146.50 and 147.00 might be reached soon. This forecast is concluded with the quote below: “Trading is like playing chess; you can learn a lot about it by reading books but if you really want to get good in it, you actually have to do it on your own. Practice is necessary to becoming successful in many professions; and trading is one of them!” – Andy Jordan Source: www.tallinex.com

THERE IS NO MAGIC “Your trading methodology has to make sense for you even if it’s the opposite of what makes sense for other people. Choices made in developing your approach to trading should suit you personally to minimize internal conflict. Only then will you have the confidence to remain true to its development and its execution during tough times. The long-term advantage of developing your own system from scratch (rather than trading someone else’s system) assures you of high compatibility with your beliefs, personality, edges, and objectives. That compatibility becomes one of your sustainable edges. As Curtis Faith of Turtle fame noted: “It’s not about the system, it’s about the trader’s ability to execute the system.” – (Source: VanTharp.com) LB and I have just wrapped up the final in our series on full time trading. For the most part they have been enjoyable except for one twat who complained that it was unprofessional of LB to not present when she was suffering from severe laryngitis. Presenting for the first time in years is an interesting thing as the expectations of those you present to also change over time. This particular series could be summarised as all the mistakes I have made in trading and the solutions I have found such as they are. One of the things I have learnt over the past few decades is that there is no magic. Trading is a grinding profession where your central tenet is not to go broke waiting for the next big move. I think in part some attendees were waiting for the magic. That point in the seminar where you do a grand reveal of your magic strategy that never has a losing trade which means you can quit your job tomorrow and start trading full time with nothing other than a credit card because CFD providers will now in their wisdom allow you to fund your account with credit and earn frequent flyer points. Regrettably the field of investing has been tainted by endless shonks who have polluted the thinking of people before they even set foot in the market. Before writing this piece, I Googled trading bitcoin for a living and got 35,900,000 returns. Certainly not all of them relate to trading bitcoin or any other crypto full time but if even 10% do then then that’s a staggering 3.5 million sites promising people that they can give up their day job and start trading overnight. The central theme of these sorts of sites and it is not limited to cryptos is that you can trade full time with very limited capital. And you can do this because you will never have a losing trade. Your equity curve will be a linear trajectory that soars from the bottom left hand corner of the chart to infinity without ever breaking stride. I can understand why this sort of thing has permeated the thinking of new traders. Whilst this sounds seductive it ignores many of the key realities of trading the foremost of which is that trading does not produce linear returns. We encounter a feature of equity curves called drawdown. All trading systems generate drawdowns – in a very general sense if you are a trend following you expect to have a drawdown of between 15% to 25% once per year. As an example, consider the equity curve below. This is the equity curve of Dunn Capital a money manager that uses trend following as its basic tool. You see decades of outperformance punctuated by drawdowns. There is an inviolate relationship between performance and drawdown, if you are swinging fr the fences you need to expect to be struck out a lot. Irrespective of the trading system drawdown is a fact of life for traders – it can only be avoided by not trading. If someone tells you that their equity curve never draws down, then they are a liar. It really is that simple. The implication for those seeking to trade full time is that your first drawdown will coincide with your move to full time trading. This is a natural feature of systems, they cut their losses and then let their profits run. There is a timing dislocation between these two events that results in the account value immediately slipping. The problem is that this occurs at a time when you are most economically and emotionally vulnerable, it is also a problem because most new traders are undercapitalised. They simply don’t have enough money because they have not thought their transitions through and they may or may not have been infected by the thinking that you can give up your day job and earn 100k a year on a bank of 50k. It is at this point in a seminar that I can see how people begin to sag because it begins to dawn on them that they need much more than think to survive as a trader. However, I think they are missing the bigger picture since the move to full time trading does not have to be an all-in proposition. The move can occur gradually over time as your capital grows and you acquire more skill. And along the way your life begins to change in small but incremental amounts. You may even reach a point where you stop believe in magic and start believing in your own ability to slowly and inexorably change your own life. Author: Chris Tate Article reproduced with kind permission of the author. Source: https://www.tradinggame.com.au/there-is-no-magic/ I end this piece with the quotes below: “Just coming back from vacation where we’ve been doing a lot of hiking in the mountains, here’s an analogy. You’re standing on a peak of a mountain looking at an even higher peak. But to get there you first have to go down that small valley…no way around it! It's the same in trading, so as long as the size of the drawdown is within your expectations, you can and should relax when you’re in a drawdown. It's just a necessity you have to endure to get those profits. So understanding and accepting Drawdowns as part of this business will make your life as a trader much easier!” – Marco Meyer (Source: Tradingeducators.com) “Having said that drawdowns are still making me uncomfortable. I don't like them at all and each time I'm in a big one I'm having the same doubts and troubles most of you probably have too. But knowing that actually nothing is wrong helps a lot to make it through these times. Without that knowledge and understanding, you not only have the doubts but you allow them to win over, follow them and then probably stop trading at the worst time possible.” – Marco Meyer (Source: Tradingeducators.com) www.tallinex.com wants you to make money from the markets