Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

stevenann

Online Trading Academy

Recommended Posts

Stay far away from Pacific Trading Academy. No backup & after you finish your on your own. A lot of MONEY. Try a Live trading course. Maybe E-Mini Day Trader. Looks like a reasonable price.

Edited by Soultrader

Share this post


Link to post
Share on other sites
Has anyone ever taken any trading classes or have any information on this trading school?

 

I have not taken any classes from them but I do know someone that has.

 

The thing that I like about their system compared to some others is you actually trade their money (in small dollar abounts) to learn what it is like to be in a trade. Most other companies use a tell show strategy, theirs is tell, show, do!

Share this post


Link to post
Share on other sites

OTA has a lot of different types of classes: options, forex, equities trading, etc.

I took the equities trading 7 day class - Professional Trader I and II. The first time it was horrible. Didn't learn anything. May have written 1/2 page of notes over the entire 7 days! I had more knowledge from books than the instructor who may have been trading for a few years but hadn't taught himself anything!

 

I signed up for a retake and that experience was much better. The instructor was incredibly knowledgeable. I took about 30 pages of notes over the 7 days. If I do another retake, it'll cost me money but luckily I shouldn't need to after this instructor.

 

Bottom line: it is completely dependent on who the instructor is. Some are terrible, some are wonderful, most are medium. I talked with a lot of other students at an alumni event about their instructors. They concur with me.

 

It's a lot of money so think carefully. Read a few books first. The course is an odd mix of very basic information (what is bear/bull market) and technical tools (using Fib. for retracement).

 

OTA does offer a free 1/2 day to sell you on their courses. I think the free 1/2 day is worth your time. You get to know who is running the training center and how sincere they are.

Share this post


Link to post
Share on other sites

I've never taken a trading course, but in my experience, trading is something that you have to do yourself. It seems to me that taking a simple 7 day course won't help you much because trading is just like any other profession--it takes a lot of time and dedication to learn how to succeed. You don't become a doctor without several years of education, right?

 

If you're completely new to trading, a profitable trader could tell you their strategy and everything they know, but you would most likely still lose money in the beginning. This is hard to explain, but knowing someone's strategy and knowing how to make money are two completely different things, and knowing how to make money only comes after you've spent many, many months watching your market every day for as long as you can afford to. Once you feel that you have some kind of grasp over what happens on the screen you're watching, start trading live. Some people will tell you to sim trade, and sim trading is very valuable, but you won't really know a HUGE part of trading until you're traded live, using real money. When your own money is on the line, all the rules you've made for yourself and all of the knowledge you accumulated take a back seat until you learn to trust yourself and the strategy you've created. If you don't have a strategy, you will probably lose money. I could go on and on, but instead I'll give you these links that will probably be much more helpful than any course you might pay for. I advise that you read all of these articles, browse this forum, and watch your selected market as much as you can. It's very important that you take this as seriously as possible--make it your LIFE--and you will have a great advantage over the majority of people who try to trade. Links:

 

http://www.trading-naked.com/Articles_and_Reprints.htm (make sure you read the articles on risk management)

http://www.trading-naked.com/library/Prologue.pdf (this "Trading as a Business" series is pretty good, I recommend that you read all of them)

http://www.traderscalm.com

 

I should add that I discovered those three links on this forum after I had already learned much of what is contained in those links the hard way--that is, through experience, trial and error, and a lot of reading. So I give credit to those who originally posted those websites here. One final piece of advice is that you throw your ego out the window and never look back. If you're new to trading, you have no idea what you're getting into. You might think you have some idea, at least the smallest idea, of what this is all about. You don't. You don't know what you're in for, but prepare yourself for the worst, NEVER even THINK about giving up, and you will probably have a decent chance of "making" it.

 

Keep in mind that I only have a little less than two years of trading experience, so I have a lot to learn myself, I'm sure.

Edited by diablo272

Share this post


Link to post
Share on other sites

Absolutely agree. It's silly to hope than 7 day course will make you succeding trader, but maybe it will give you some instruments that of course you could have found yourself, but it would take more time and efforts, and maybe money. But I'm agree with the idea that personnal market learning is better.

 

P.S. I don't know how to remove angey smiley from the top of the post :)

Share this post


Link to post
Share on other sites

Some people do learn better "hands-on" than by reading a bunch of books and articles. As for the web, how do you know which web sites have accurate information that will work for your style of trading (rhetorical). The course isn't for everyone which is why the free workshop is good to attend first to introduce you to what will be taught in the course. And the course is greatly improved by what the instructor brings to the course, if anything. You are right -- 7 days is only the beginning -- and you will have to keep learning on your own. If you want to day trade, statistics say only 5-7% are successful long-term.

 

At the risk of going off-topic, here are some calculators that may be useful but I'm not intending any new comments on this thread since it is off-topic:

http://traders-anonymous.com/calculators.aspx

Share this post


Link to post
Share on other sites

I agree that trading maybe is more practice than theory. For ex. I have read a lot of literature, but there were no more than 2 books that developed my understanding of what is really goin' on concerning market.

Share this post


Link to post
Share on other sites

I attended an Online Trading Academy seminar years ago in Orange County, CA. The sales pitch was pretty corny, IMO. The owner of the operation started the seminar by priming the audience to the idea that we could be trading at home in our bunny slippers, independent from investment advisors, mutual funds, etc... After an hour or so, their head "trader" casually walked in with his half buttoned shirt, gold chains around his neck and a stubbly face. He proceeded to talk about how he was totally financially independent, how he's traveled the world and charters yachts, blah blah blah...

 

Then, one by one, they called attendees out of the conference room and into separate rooms, where they had associates giving each attendee the hard sell. When it was my turn out of the room and into a one-on-one with a sales associate, I repeatedly declined their 7-days for $3XXX offer as well as declining to buy several of their packaged DVDs for home study around $800. They wouldn't even show me the respect of allowing me time to marinate on the ideas from the day. The sales guy, who identified himself as an OTA franchise owner in Houston, almost seemed hostile and patronizing towards the end of the sales pitch. In truth, I was actually interested in their school up until the interrogation style sales push.

 

Fast forward six years later to now... I'm very glad I didn't buy into OTA. Could they have effectively taught me skills to be a successful trader, I can't know. All I know is that I walked in there with genuine interest and walked out feeling like something was mighty fishy at OTA. It may be enticing to think that a 7 day course will fast track your trading skills, but I don't believe I could have had the same learning experience as I have had if I did join them. The years I've put in of reading, researching what works for me, sharing with other traders and developing my own style is something I highly appreciate.

Share this post


Link to post
Share on other sites

Hey guys, I just came back from a OTA Stock Trading seminar today and it seems like they have a lot to offer. My oppinion on OTA is that yea, it teaches you basics and technical analysis.... where you can get online and learning from experience. But I think what this class really focuses on is discipline, risk managment (how to control your mental stops) Psychology, not getting to greedy, not getting too carried away about your losses (thinking or hoping they will turn),

how to live, breathe, and abide by your strategies religiously and than adjust accordingly. Which I think is key because people get too carried away emotionally. This is a great class if you need some help with your stop limits, knowing when to pull out, and how to control your greed.

The bottom line is, If you are NOT HARD HEADED, than think of it as therapy.

 

Good reference tool, probably the best for people who know nothing about the market (great foundation). But if you've been trading for a while and have a set strategy, do not even bother.

Share this post


Link to post
Share on other sites

There is a lot of truth in what you guys experienced with these academy trainings...All I know is that technical trading (method) is not enough to be successful no matter how much you pay for training and what you learn there...

 

There is mind (discipline and personality, greediness...all kind of emotions..etc.) and money management involved very much in trading...

Someone can make living on MA crosses and other trader will not be successful with latest and greatest indicators and platform...

 

There are a few instructors from OTA having webinars on FxStreet.com: Sam Seiden and Steve Misic. I respect both of them.

Share this post


Link to post
Share on other sites
Hey guys, I just came back from a OTA Stock Trading seminar today and it seems like they have a lot to offer. My oppinion on OTA is that yea, it teaches you basics and technical analysis.... where you can get online and learning from experience. But I think what this class really focuses on is discipline, risk managment (how to control your mental stops) Psychology, not getting to greedy, not getting too carried away about your losses (thinking or hoping they will turn),

how to live, breathe, and abide by your strategies religiously and than adjust accordingly. Which I think is key because people get too carried away emotionally. This is a great class if you need some help with your stop limits, knowing when to pull out, and how to control your greed.

The bottom line is, If you are NOT HARD HEADED, than think of it as therapy.

 

Good reference tool, probably the best for people who know nothing about the market (great foundation). But if you've been trading for a while and have a set strategy, do not even bother.

 

I was talking about same thing in my previous post : discipline, hopes, emotions and I am glad you pointed it as well...Well I need it ...

Share this post


Link to post
Share on other sites

Thanks for the links, they look really interesting.

 

I did go through Online Trading Academy. I was new to trading, so I was glad to have the 7 days and others to talk with. I have done most of their courses and am in their XLT (advanced training) now. It is a lot of money, but traders can loose so much more with losing trades. I think it was worth the $ for me, but I still have a lot to learn.

 

They teach the trading aspect well, especially if you go back and have different teachers. I think they do not cover the psychology of trading well enough at all. They just started a new course on this, which I am sure is a start.

 

I just started offering coaching to traders to work on the discipline (I am a business coach in a past life) since it is the discipline and psychology I find that I am struggling with now.

 

I agree with a post above, that it seems no matter where you are trained it just takes time to learn. You have to preserve your capitol so you don't run out while you are learning!

Share this post


Link to post
Share on other sites

I took the pro trader course, and I do like that you can retake, and ditto to other reviewers as far as worthiness of instructors. While their is only so much you can get out of a book, the only thing I did not like about OTA in retrospect is that they are kind of a power/pressure sales operation. Even while I was taking the pro trader course, at one part of the week, they did a one hour infomercial for their other stuff which kind of annoyed me. Especially if I am already allotting time off a busy schedule. If your brand new to all this, then it is decent.

 

So my review is kinda mixed. Their is nothing that they teach that you cannot get out of a book, and if someone had a perfect trading system, it would be virtually priceless. Would I do it again, knowing what I know now? Not really sure. If anyone has a specific question about it, ask me.

Share this post


Link to post
Share on other sites

I took almost all the OTA classes and I am a 3 XLT member.

In my opinion its worth taking the OTA Pro-Trader class if you are very new to trading. The class gives you good inside about how to read charts, different type of indicators and lots of technical analysis. But don't forget NO one is going to teach you how to make money in trading. OTA classes will introduce you to general education, it up to you how you will interpret and use this info.

Each OTA school is individually operated and owned, its a franchising. I had a good experience at the Northridge, CA location. But its a different story when you talk about the XLT class. Please do your homework before buying the XLT class. Its completely different experience from what they present to you. Don't get me wrong they do have good instructors also but and there are many buts.

Most important is that instead of paying thousands of $ for the XLT class, you can get the same recordings and information for free on the web (NO I am not black market selling the recordings, this is unethical in my book)

Pls e-mail me at market_account@yahoo.com if you like to know about the pros and cons.

Share this post


Link to post
Share on other sites

SCAM! Although not new, Online Trading Academy based out of Irvine, Ca pretends to offer investment/trading education across multiple asset categories like stocks, options, futures, commodities, forex and real estate.

 

The cost is salty beginning at $5,000 for their basic course and up to $10,000 per mentoring class and $65,000 for their passport programs.

 

They have been running informercials on late night tv much like the now defunct Teach Me To Trade. More recently they are using apparently bogus testimonials on the internet posted by apparently paid shills and OTA employees.

 

They even have their own website which implies that it is a 3rd party review site. An obvious clue is the raving five star reviews which all look like they were written by the same person and that other accurate, but not so positive reviews are blocked and deleted.

 

OTA will lure you to their facility to attend a Power Trading Workshop, ostensibly a 1/2 day workshop which really only lasts about 3 hours, time for lunch and registration included.

 

Calling it a workshop is quite a stretch. It is a blatant sales pitch much worse than any time share presentation.

 

The course includes primarily basic t/a which can be found in any inexpensive book or even free on the internet.

 

They claim to offer a one time $2,000 schlorship discount for that day only. This is a lie.

 

They also promise lifetime retakes. But their class room only seats about 20 people and they are constantly pushing for more clients. Where will they put everyone? FACT: Most clients quit in frustration and even though classes and workshops are listed as "sold out", there are more often less than half full and cancelled.

 

And they also promise tuition reimbursement. (Don't you love the way they throw around those educational terms to make them sound like a real school?) Here again, read the fine print and really check them out. You know what they say about when things sound too good to be true.

 

On some websites where complaints have not been deleted, supposed company officials post rebuttals and challenge anyone to contact them at their corporate offices in California. The number is a toll number, not toll free and those who have called find it links to a voice mail and after leaving multiple messages, no one returns the calls. So much for help from corporate.

 

OTA also seems very upset about the increasing number of complaints appearing about them on the internet and are now charging complaintants as being people who work for the competition, frustrated, lazy students who wouldn't take the time to follow their courses, deadbeat clients who defaulted on their loans (18% interest, t hey may be right on this one!) people whose credit cards were denied and disgruntled former employees.

 

Before it was called Online Trading Academy, it was called bloc securties, then momentum securities, then Newport Beach securities. In Orlando, the local office ownership has changed hands five times in a few years and has had massive employee turnover.

 

Many of OTA's offices are located in right to work states which means that employees were probably treated unfairly so there probably are a lot of unhappy ex employees out there for sure.

 

However, one thing that Online Trading Academy doesn't want to admit is that they have a lot of unhappy clients and whatever is showing on the internet pales compared to what goes on in the local offices where clients are many times screaming at Online Trading Academy staff for their wrong doings and high pressure sales tactics.

 

Stay away from these guys!

Share this post


Link to post
Share on other sites

The truth is although i like online trading academy, it's probably the best "trading school", their prices are quite prohibiting for me. In order to reach their XLT level, you might need more than $15.000. I still believe that they offer great information, and I, as a forex trader i have learned a freaking lot from just the free articles of some of their traders/instructors. But still, cmon, $15.000? And that is only for forex, if you want stocks etc, you got to pay these amounts again. Especially for forex, i don't think it is worth it, as you can get all the "supply and demand" stuff that online trading academy teaches and preaches from other sites like advantage signals. Don't know if their signals are any good yet (i don't have enough data, i am still on free trial), but the educational info provided with every signal is quite unique. Anyway, about online trading academy, if i was rich and wanted to learn about forex trading, i think i would give them a shot. But I cant pay for that now anyway :P If you want to buy me a "passport" to their classes for my birthday, then ok!

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • There has never been a better time to start trading futures with NinjaTrader! Open a new Futures account by October 31st and receive up to $200 in commission rebates. Simply fund your account with the account minimum of $400 and start trading! You’ll receive a rebate back on all future trades placed for the remainder of 2020! LEARN MORE Why Trade Futures with NinjaTrader? FREE Platform included with brokerage account Clear savings through discount commissions Low day trading margins including only $50 for Micros 1000s of Apps & Add-Ons to personalize your platform Questions? Contact us at 1.800.496.1683 or brokeragesales@ninjatrader.com. Commission Rebate Requirements: Account must be opened & funded in October 2020 with $400 minimum Trades must be executed on or before December 31st, 2020 Commission rebates will be applied to the account holder’s balance monthly as a credit up to $0.25 per contract if charged commission exceeds $0.25 per contract or equaling the value of the commission charged if under $0.25 per contract Standard exchange, NFA and routing fees still apply Existing NinjaTrader Brokerage account holders are not eligible for this promotion Futures and Forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing one's financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results. View Full Risk Disclosure.
    • Date : 1st October 2020.Brexit headlines driving the markets.The UK currency took a sharp rotation lower on Brexit related developments. Weighing were reports that the EU and UK are struggling on key issues in trade negotiations, and with the European Commission president von de Leyen announcing that the EU has taken the first step in a legal infringement procedure against the UK in relation to the controversial Internal Market Bill. However later on an FT report cited UK officials with inside knowledge saying that the EU and UK have reached a compromise on the state aid issue, contrary to an earlier Reuters article, which had cited EU sources. Fishing rights remains a sticking point, apparently.The EU recovery fund is likely to be delayed just as nearly all European countries are ratcheting up Covid restrictions. And this comes amid the ECB campaign of verbal intervention to keep a lid on the Euro. Similar messaging from other central banks, including the BoE and RBA, has also contributed to an overall weakening in the strongly bearish Dollar bias that forex market participants had until recently. The rhetorical interjections countervail the impact of the Fed’s regime shift to a lower-for-longer stance on interest rates.In Europe, positive Covid test results have continued to soar in most countries. Covid hospitalisations and mortality, while bumping higher over the last week in many countries, still remain at basement levels relative to the March/April peak. The ratio between Covid-caused death and flu- and pneumonia-caused death also remains low, again contrasting markedly to the March/April situation. Nonetheless, the trend in most countries in Europe is for tighter restrictions and more localized lockdowns, which should limit the upside scope of the Euro.EURUSD earlier posted a 9-day high at 1.1769. EURJPY gained, too, with both the Dollar and Yen having softened amid a backdrop of mostly higher global stock markets. EURGBP dove about 90 pips in returning to levels around 0.9065-75. Heads of state will bring the issue to a resolution at the October 15th-16th EU summit. The odds for a deal being struck now appear much greater, though how extensive any deal will be remains uncertain, and there is a risk that the UK will see a downward jolt in its terms of trade when it leaves the EU’s single market on January 1.European stock markets have pared early gains. The UK100 outperformed as the Pound sold off and the UK Gilt future is currently down by 0.2%, while the GER30 underperformed and lost most of its early gains amid the rise in local virus case numbers and with Bayer AG under pressure after a profit warning. This comes in contrast to the European final manufacturing PMIs, which confirmed the improvement in sentiment.The UKGilt has had a key downside move that is potentially outlook changing, breaking the 200-Day MA and resuming the 2-month downtrend. The UKGilt is heading towards the support band 135.30/135.00. The rebound from 134.20 to 136.98 last week is now the medium term resistance area. Given the deterioration in momentum we have seen, with RSI into the 40s and MACD lines sustaining a move into negative area, the outlook is becoming increasingly worrying for the bulls. If this 200-Day MA at 136 continues to be seen as a sell zone, the downside pressure will grow. Initial Support, at 50% Retracement level on year’s rally and 50-week SMA, is a key level. If this is breached on a closing basis it would open 132.80-132.00 which is the year’s low area, however a strong obstacle will be the 61.8% fib level at 134.00. How the market reacts around 134.00 would then be the key as to whether this is a near term upswing or something far more bearish.Generally though investor sentiment was boosted by headlines suggesting progress on the next US stimulus package, and US futures are up 0.8 to 1.3%, with the USA100 outperforming. The vote on the Democratic proposal was delayed to give negotiators more time to come up with a compromise deal as Fed officials warn against delaying a new aid deal until next year.Always trade with strict risk management. Your capital is the single most important aspect of your trading business.Please note that times displayed based on local time zone and are from time of writing this report.Click HERE to access the full HotForex Economic calendar.Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • "The politicians are put there to give you the idea that you have freedom of choice. You don’t. You have no choice. You have owners. They own you. They own everything. They own all the important land. They own and control the corporations. They’ve long since bought and paid for the Senate, the Congress, the state houses, the city halls. They got the judges in their back pockets and they own all the big media companies, so they control just about all of the news and information you get to hear. They got you by the balls. They spend billions of dollars every year lobbying. Lobbying to get what they want. Well, we know what they want. They want more for themselves and less for everybody else, but I’ll tell you what they don’t want. They don’t want a population of citizens capable of critical thinking. They don’t want well-informed, well-educated people capable of critical thinking. They’re not interested in that. That doesn’t help them. That’s against their interests. They want obedient workers. Obedient workers, people who are just smart enough to run the machines and do the paperwork…. It’s a big club and you ain't in it. You and I are not in the big club. ...The table is tilted, folks. The game is rigged and nobody seems to notice…. Nobody seems to care. That’s what the owners count on…. It’s called the American Dream, 'cause you have to be asleep to believe it."  George Carlin   see  https://www.rutherford.org/publications_resources/john_whiteheads_commentary/the_election_has_already_been_hijacked_and_the_winner_decided_we_the_people_lose
    • Date : 30th September 2020.ADP, NFP and the change in their correlation.Today ADP reported a 749k sure in private payroll employment in September, almost double the 400k expectation, after an upwardly revised 481k (was 428k) increase in August.There were solid gains across industries. The service sector added another 552k jobs, with the goods sector adding 196k. Manufacturing jobs were up a hefty 130k. In services, trade/transport posted a big 186k gain, while leisure/hospitality jobs increased 92k, and education/health employment was up 90k. Professional/business services added 78k jobs. The ADP gains have massively undershot improvement in BLS payrolls and other labor market indicators since the growth rebound began, suggesting that this could continue despite this month’s solid gain. However please note that during the pandemic year ADP has done an awful job as an indicator of NFP number. In general after since May we have seen the absence of correlation between the ADP employment change figures with Nonfarm Payrolls.The September Nonfarm Payroll gain is seen at 900k, as most measures of output extended their rebounds in September. Initial claims have slowly tightened, and we saw another big -1,912k continuing claims plunge between the August and September BLS survey weeks. The jobless rate is expected to hold steady from 8.4%, alongside a 0.8% September hours-worked increase with a 34.6 workweek and hourly earnings to be unchanged, following August’s 0.4% rise, as the measure gives back more of the 4.7% April pop with the shift in the composition of jobs back toward lower-paid workers. The nonfarm payroll forecast assumes a 1,075k private jobs increase.Seasonal Trends and WeatherFor disruptions to employment from weather as gauged in the household survey, the biggest disruptions occur in the winter months generally with the average peaking in February. There is an additional climb through the late-summer months due to disruptive hurricanes in some years. This September has seen hurricane activity but they’ve been less disruptive than some of the major events in years past, leaving modest upside weather-risk for payrolls. Of course, any weather related disruptions will be eclipsed by COVID-19.Hourly EarningsAs stated above, a flat figure for September average hourly earnings is anticipated, after gains of 0.4% in August and 0.2% in July, but drops of -1.3% in June and -1.1% in May, as we further unwind the 4.7% April surge. Job losses have been skewed toward lower paid retail, leisure and hospitality workers, and this prompted the April spike in average hourly earnings that is now being reversed. A 4.6% y/y increase in September from 4.7% in August is forecasted.Continuing and Initial ClaimsContinuing claims fell -1,912k between the September and August BLS survey weeks, after a drop of -2,459k between August and July, and a -2,280k drop between June and July survey. The economy is unwinding the 24,912k continuing claims peak in the second week of May. Initial claims fell to 866k in the September BLS survey week from 1,104k in the August survey week, and 1,422k in the July survey week. The September initial claims anticipate to average at 870k from 992k in August.ConclusionEmployment should rose further with output in September, despite delayed stimulus and ongoing disruptions in the re-opening process. The September hours-worked is expected to increase of 0.8%, with a 34.6 workweek, while hourly earnings remain flat. The jobless rate should hold steady at 8.4%, leaving the rate below the 9.98% cycle-high from the last recession in October of 2009.Always trade with strict risk management. Your capital is the single most important aspect of your trading business.Please note that times displayed based on local time zone and are from time of writing this report.Click HERE to access the full HotForex Economic calendar.Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Date : 29th September 2020.Time for the first face-off.The first presidential debate is due to take place today, ahead of an election that is turning into a major event risk. At the same time markets are waiting for developments on further US stimulus measures as US Democrats released a USD 2.2 trillion proposal in a bid to break the deadlock in talks with Republicans. The debate is at 01:00 GMT while the focus turns on any potential market fallout especially as it coincides with indications of a possible approval of the fiscal stimulus but crucial with the approach of month- and quarter-end which could exacerbate volatility.Additionally in the US this week, there is also the threat of massive layoffs/furloughs from the airlines come October 1 as the CARES package provisions expire. Data remains thin for now. September consumer confidence headlines Tuesday, and is followed Wednesday with the ADP private payroll report, September ISM, vehicle sales, August income and consumption. Thursday has the high frequency jobless claims before Friday’s September nonfarm payrolls release.Now in regards to tonight’s debate, the importance of it does not rely solely due to the fact that is the every first debate but mainly because it might present the clear winner especially this year in which the candidates have not been as highly visible with limited campaigns done because of Covid-19.The candidates will be questioned for 90 minutes, without commercial breaks, according to the Commission on Presidential Debates. Ahead of the debate the vulnerable one look to be Trump following a New York time report that the president paid no income tax for 11 years. However is an excellent brutally effective debater so it will interesting to see how he will overcome any attacks. Please note that in some states voting has already started via mail or in person.The debate will take place at Case Western Reserve University and Cleveland Clinic in Cleveland, while the topics selected by Wallace, moderator of the first 2020 presidential debate, are the:   The Trump and Biden Records The Supreme Court Covid-19 The Economy Race and Violence in our Cities The Integrity of the Election Below you can also find the latest national polls prior the debate.Based on UBS research below we enclose the campaign policy platform of each Party:What is the 2020 Republican Party platform?President Trump abandoned the usual practice of endorsing a lengthy campaign policy platform in conjunction with the GOP national nominating convention. Instead, he released an abbreviated written agenda for a planned second term in office. The GOP policy statement is largely aspirational, with fewer details than one is accustomed to seeing from a presidential candidate. The president’s proposed fiscal policies include additional tax cuts for individuals and federal tax credits and deductions for corporations that repatriate jobs to the US from overseas locations. The statement also explicitly supports additional capital gains tax relief through an expansion of the Opportunity Zone program.Numerous provisions from the Tax Cuts and Jobs Act (TCJA) are scheduled to expire at the end of 2025, but the president does not discuss how the resulting tax hikes will be averted. Absent additional congressional action, the individual income tax cuts, an increase in the standard deduction, and the expanded child tax credit will all revert to prior levels in just over five years. Voters are left to assume that the president will be able to convince Congress to make the tax cuts permanent.The policy statement, which was released in conjunction with his acceptance speech, also focuses on the adoption of a more adversarial posture toward China, strict enforcement of immigration laws, and support for law enforcement personnel. While all three are viewed by the GOP as winning campaign strategies, the reference to “ending our reliance on China” suggests that the president is willing to continue to use tariffs as a tool of foreign policy if elected to a second term. He has threatened to selectively impose tariffs upon, and to strip government contracts from, companies that refuse to relocate their operations to the US.Meanwhile, in a rare instance of tacit agreement with his challenger, the president reaffirmed a desire to cut prescription drug prices, lower healthcare insurance premiums, and require coverage of all preexisting conditions. On the whole, the impact of the president’s policies on Treasury receipts (and on the US economy generally) is difficult to calculate. Whether or not this is purposeful is debatable, but the inevitable conclusion is that a second Trump administration would be similar to the first and forced to rely on deficit financing to accomplish its goals.What is the 2020 Democratic Party platform?In contrast to the president’s abridged policy statement, the Democratic Party platform is a protracted recitation of policies as disparate as the need for federal bankruptcy reform, a Green New Deal, and reinvestment in rural America. The Biden campaign has not released a consolidated fiscal plan but instead weaved his call for higher taxes to partially fund a series of spending proposals related to infrastructure investment, climate change, and an expansion of healthcare coverage. At its core, however, the Biden campaign is focused on strengthening the federal regulatory regime, reversing many of the provisions of the Tax Cuts and Jobs Act, and increasing federal funding of long-time Democratic policy priorities.The former vice president advocates an increase in the highest marginal tax rate to 39.6%, and higher payroll taxes for individuals earning more than USD 400,000 a year. He also proposes to tax capital gains at the same rate as ordinary income for taxpayers earning more than USD 1 million. The corporate tax rate is targeted for an increase, albeit less than the rate prevalent before the enactment of the Tax Cuts and Jobs Act. The corporate tax rate would increase from 21% to 28%, and an alternative minimum tax of 15% would be levied on companies that report more than USD 100 million in book income.The Democratic campaign platform also takes aim at the estate tax by recommending a reduction in the exemption to USD 3.5 million and the elimination of the stepped-up basis rule. Tax preferences for the fossil fuel industry would be eliminated, while those for energy efficiency would be increased. With the exception of the payroll tax increase, most of Biden’s fiscal policy platform could be implemented with a majority vote in the Senate through budget reconciliation.The Tax Policy Center has estimated that Biden’s tax proposals would increase federal revenue by about USD 4 trillion between 2021 and 2030, or 1.5% of GDP over a decade.1 Roughly half of the revenue gain would be derived from higher taxes on US households, with the remainder coming from businesses and corporations. The Tax Foundation expects the Biden tax plan to reduce after-tax income for the top 1% of taxpayers by 7.8%. The top 5% would see their after-tax income drop by 1.1%, with diminishing reductions thereafter as income declines.Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.