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thalestrader

The Race

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MM, have you ever read Gerald Loeb's The Battle for Investment Survival? Or Darvas's How I made 2,000,000 in the Stock Market? How about William O'Neils's How to Make Money in Stocks, or Bernard Baruch's My Own Story. You seem to own a line on what is and is not possible, and your mind has been closed to the possibility that you're line is crooked and leads you in the wrong direction.

 

The 5K to 100K using common stocks would actually be a much more interesting project to me. Perhaps once The Race concludes...

 

Best Wishes,

 

Thales

 

Have you heard of the 'Pattern Day Trading Rule' ?

 

.

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MM, have you ever read Gerald Loeb's The Battle for Investment Survival? Or Darvas's How I made 2,000,000 in the Stock Market? How about William O'Neils's How to Make Money in Stocks, or Bernard Baruch's My Own Story. You seem to own a line on what is and is not possible, and your mind has been closed to the possibility that you're line is crooked and leads you in the wrong direction.

 

The 5K to 100K using common stocks would actually be a much more interesting project to me. Perhaps once The Race concludes...

 

Best Wishes,

 

Thales

 

Thales,

 

My mind is such that when I have a string of awesome trades, I know that luck plays a major part in my achieving those results. I can only hope that I continue to be be in the right time at the right place for my next trade. Is this a crooked line?

 

I look at the returns of CTAs. The better ones seem to be able to achieve 20% returns on average. I use that as a guide to compare my results. And, I might be wrong, but i think that the best of the group, were more fortunate than the rest of the bunch to be in the right place at the right time. Is this a crooked line?

 

Am I on a crooked line because I don't think like everyone else? I guess so. I am making money so I'll just continue doing things the wrong way.

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MM, in life, and ESPECIALLY in trading, doing what works for one, and at the same time letting others do what works for them, is the greatness in people, as opposed to claiming that "my truth is the only truth in the world".

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15% per year is an awesome return and would put you in the top .1% of all traders. If the prospects of making "only" 15% does not seem lucrative to you, then you should probably find something else to do. It could certainly be a lot worse than 15% too and it is for most.

 

IMO, the returns from daytrading have absolutely nothing to do with the returns one could expect from an investment in a portfolio of stocks/bonds.

 

Trading is about finding an edge and applying that over and over.

 

You obviously have no edge in your trading style and so you can not understand what the traders in theis Race are trying to demonstrate. If you did have an edge - you would realize that your beliefs are misplaced when applied to the traders in this race.

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MM, in life, and ESPECIALLY in trading, doing what works for one, and at the same time letting others do what works for them, is the greatness in people, as opposed to claiming that "my truth is the only truth in the world".

 

The nice guy in me wants to help an individual who is being lead astray. But, in the end, trading lessons cost real money.

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Turning 5K into 100k in anything less than 20-25 years is without doubt a result of extraordinary luck.

 

Luck has a lot to do with achieving an unequal distribution of high positive returns. Embrace it. Don't reject it because you are going to need it.

 

I wonder if you fully understand compounding? The wonderful thing is that you can compound less aggressively as time goes by, and so reduce your risk whilst still achieving geometric growth (as opposed to arithmetic growth). This is what the race is all about.

 

Even if you had a tiny edge and risked a minuscule amount on each trade you would be very hard pushed to take that long. Of course if you have no edge or are prone to risk too much the outcome will be consistent and much quicker than 20 years!

 

The only place luck enters the equation is in 'streakiness' of results. As time goes on you can be more resilient to streaks by decreasing your risk a little.

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Thales,

 

look at the returns of CTAs. The better ones seem to be able to achieve 20% returns on average.

 

"average" is the operative word. This thread is not about "average". Yes there is an element of luck in everything we do. Kindly respect Thalestrader's thread opening statement and leave us to our foolishness. There are Lots of people that lose lots more from larger accounts all the time. We are talking 3k and under here.. is we lose it so be it.

 

Resembling an ET thread in a hurry.

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Thanks MM for making this a lively thread. I'll chime in after today's trading.

----

 

Lost my internet yesterday within the first hour of stock market. [See. MM is right. Luck does strike ya.]

 

But, speaking in New Age style, "I attracted it" ... because I wanted to know how fast does the Emergency TradeDesk respond.

[So. Ed Seykota is also right. Everybody gets what they want from the markets.]

 

Honestly, I was delighted with the service. Now, I can trade even more peacefully. :D

 

Attached is the statement for 06/21. Breakeven yet.

:)

2010-06-21.thumb.png.4cae81c3aa3382787ce72cef04c74242.png

Edited by ekshay
Added Seykota

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I wonder if you fully understand compounding? The wonderful thing is that you can compound less aggressively as time goes by, and so reduce your risk whilst still achieving geometric growth (as opposed to arithmetic growth). This is what the race is all about.

 

Even if you had a tiny edge and risked a minuscule amount on each trade you would be very hard pushed to take that long. Of course if you have no edge or are prone to risk too much the outcome will be consistent and much quicker than 20 years!

 

The only place luck enters the equation is in 'streakiness' of results. As time goes on you can be more resilient to streaks by decreasing your risk a little.

 

Blowfish,

 

Luck enters the equation before you place your first trade. Your tiny little edge has to continue to be a tiny little edge in the future. You have zero control over that or anything else that happens in the future. It could be that the edge you found, stops being an edge altogether and it could be that your edge performs even better than you thought. You simply do not have control over that. If you did have control over the performance, the CIA, Mossad, and the Vatican would all want to speak to you.

 

At the end of the day, it is going to take 15% per year compounded annually to turn 5k into 100k. Most successful traders do not peform at that level. I guess 15% sounds too low for most, but it is all relative.

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IMO, the returns from daytrading have absolutely nothing to do with the returns one could expect from an investment in a portfolio of stocks/bonds.

 

Trading is about finding an edge and applying that over and over.

 

You obviously have no edge in your trading style and so you can not understand what the traders in theis Race are trying to demonstrate. If you did have an edge - you would realize that your beliefs are misplaced when applied to the traders in this race.

 

Trading lessons cost money

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Most of the people in this forum are on paper or are trading small account. I do neither, so have a little bit of experience to back me up.

If you can demonstrate the ability to turn 5k into 100k in 20 years, you will get you a top trading job at any of the major investment banking firms or hedge funds. They would kill each other to hire you since most of their traders do not come close to the annual return they would have to consistently do to turn 5k into 100k in 20 years.
Actually, no. That's only 11.51% ROI per year, compounded continuously (which is very close to how compounding works for day traders). We don't compound annually. No one would care for those returns on a $5k account, especially with a sample size of 1. I did a similar run in a little less than two years. Did I benefit from an outlier in returns? Possibly some, but that same run encompasses roughly 900 trades, which is a large enough sample size to reject random fluctuations of luck (in fact, it's large enough to reject anything lower than your 11.51% or 15% ROI with well over 99.9% confidence).

 

I simply could not experience the same returns on a $5mm account (expecting a $100mm account in less than two years). Liquidity would severely hurt performance, even on a "highly liquid instrument" like ES. Also, as capital increases, capital preservation becomes a lot more important. Blowing a $5k account is not the end of the world. Blowing a $5mm account is a pretty big deal.

 

Trading is simply the exploitation of an edge, again and again. The best analogy I've come up with is with blackjack card counting. By default, the casino runs about a 0.5% edge against the player. By counting and changing bet size, the player can do about a 1% edge on the casino. So, his goal is to simply press that edge again and again, as many times as he can. Trading is slightly different, as we never can be completely sure what our edge is exactly. However, with enough testing and experience in different market conditions, we do know confidently that we do have an edge. Once that is established, we run it as many times as we can. Sure, variance plays a large role in returns. However, given a large enough sample size and a positive expectancy edge, you can do quite well.

 

Here is a simulation of 900 trades (sample size 200) with the same average return and standard deviation of returns that I had (this is all per contract, so no compounding). As you see, variance does play a large role in returns (over 100% difference, just based on "luck"). However, you can also see that there is a statistically significant edge here.

jWNeQ.png

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...

If you can demonstrate the ability to turn 5k into 100k in 20 years, you will get you a top trading job at any of the major investment banking firms or hedge funds. They would kill each other to hire you...

 

If you can turn 5k into 100k... you don't need a job.

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If you can turn 5k into 100k... you don't need a job.

 

You do if it takes you 20-25 years...that's an average of $3,800-$4750 per year...and that's average...the trader would start with a substantially smaller income in the beginning of the period.

 

EDIT: Of course, it goes without saying that if you have a much much larger account and could produce the same returns, you'd be all right...

Edited by TMBTC
"edit"

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Most of the people in this forum are on paper or are trading small account. I do neither, so have a little bit of experience to back me up.

Actually, no. That's only 11.51% ROI per year, compounded continuously (which is very close to how compounding works for day traders). We don't compound annually. No one would care for those returns on a $5k account, especially with a sample size of 1. I did a similar run in a little less than two years. Did I benefit from an outlier in returns? Possibly some, but that same run encompasses roughly 900 trades, which is a large enough sample size to reject random fluctuations of luck (in fact, it's large enough to reject anything lower than your 11.51% or 15% ROI with well over 99.9% confidence).

 

I simply could not experience the same returns on a $5mm account (expecting a $100mm account in less than two years). Liquidity would severely hurt performance, even on a "highly liquid instrument" like ES. Also, as capital increases, capital preservation becomes a lot more important. Blowing a $5k account is not the end of the world. Blowing a $5mm account is a pretty big deal.

 

Trading is simply the exploitation of an edge, again and again. The best analogy I've come up with is with blackjack card counting. By default, the casino runs about a 0.5% edge against the player. By counting and changing bet size, the player can do about a 1% edge on the casino. So, his goal is to simply press that edge again and again, as many times as he can. Trading is slightly different, as we never can be completely sure what our edge is exactly. However, with enough testing and experience in different market conditions, we do know confidently that we do have an edge. Once that is established, we run it as many times as we can. Sure, variance plays a large role in returns. However, given a large enough sample size and a positive expectancy edge, you can do quite well.

 

Here is a simulation of 900 trades (sample size 200) with the same average return and standard deviation of returns that I had (this is all per contract, so no compounding). As you see, variance does play a large role in returns (over 100% difference, just based on "luck"). However, you can also see that there is a statistically significant edge here.

jWNeQ.png

 

Looks like a great curve.

 

I assume you are starting with 5k?

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MM, would you recommend then...

 

That if I am lucky enough to make $500 in my $2,500 account (a 20% return) in the next month,

then I would be wise to just withdraw the money, and wait until June 2011.

 

Then in June 2011, if I can make another $600 on my $3,000 account (a 20% return),

then I would be wise to just withdraw the money, and wait until June 2012.

 

This way my performance would not only be better than the average trader, but also the average money manager, fund manager, CTA, etc.

 

That it would be wiser to wait 11 months, and unwise to continue trading through August 2010.

:confused:

 

 

[bTW, I am still breakeven. Getting in the groove yet. Will post the statement when it comes.]

Edited by ekshay

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Hey guys, i'm still alive and will try another or some new strategies.

 

My balance is still $108.17

 

Haven't traded the last 3 weeks.

 

 

Sadly, I'm dead, but Is there anything in the rules that precludes me from entering The Race?

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MM, would you recommend then...

 

That if I am lucky enough to make $500 in my $2,500 account (a 20% return) in the next month,

then I would be wise to just withdraw the money, and wait until June 2011.

 

Then in June 2011, if I can make another $600 on my $3,000 account (a 20% return),

then I would be wise to just withdraw the money, and wait until June 2012.

 

That it would be wiser to wait 11 months, and unwise to continue trading through August 2010.

 

:confused:

 

I was referring to an avg annual return. So, 20%, could be avg of a 25% loss and a 65% gain over 2 years or a 55% gain in the first year and 10% loss in the second year and so on. I didn't suggest that you should stop trading when you hit some predetermined goal, though I suppose you can do that too.

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Blowfish,

 

Luck enters the equation before you place your first trade. Your tiny little edge has to continue to be a tiny little edge in the future. You have zero control over that or anything else that happens in the future. It could be that the edge you found, stops being an edge altogether and it could be that your edge performs even better than you thought. You simply do not have control over that. If you did have control over the performance, the CIA, Mossad, and the Vatican would all want to speak to you.

 

At the end of the day, it is going to take 15% per year compounded annually to turn 5k into 100k. Most successful traders do not peform at that level. I guess 15% sounds too low for most, but it is all relative.

 

We are not compounding annually are we? We are compounding daily. Maybe that is the source of your confusion. If you have an approach that trades a few times a day and averages a point or two a day you will take 5k to 1million+ in about a year without assuming undue risk. (Undue obviously is defined by the individual trader). As another poster pointed out perhaps you dont not have an edge at all? If you are a day trader and not averaging a point or two a day or you have a couple of good weeks followed by a couple of bad weeks then what you think is an edge is probably not. You really are doing yourself a disservice to close your mind to what are not just possibilities but mathematical facts.

 

I did a quick google search for a decent position sizing calculator so you could slot n some figures and see for your self. I came across this blog that is a good 'meta page' for a whole bunch of position sizing resources (links at the end). Position Sizing

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Statement for 06/23.. Fed days usually no good to trade.. By about 2:45 this one was clearly one of those and I was $40 up at the time but lost it and more, trading THE WORST 60 minutes of price movement I have seen in a while.. Some trades were stopped out in less that 5 seconds. The more pages, the more losses.

1.thumb.png.5e156be75b3732beeb45ad2d4ff89683.png

2.thumb.png.f4ea6ca8eb9e0e9aa05e5eafaa50e19f.png

3.png.68b1279efbd63f652db99f0796c60b0d.png

Edited by Attila

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    • Date: 18th April 2024. Market News – Stock markets benefit from Dollar correction. Economic Indicators & Central Banks:   Technical buying, bargain hunting, and risk aversion helped Treasuries rally and unwind recent losses. Yields dropped from the recent 2024 highs. Asian stock markets strengthened, as the US Dollar corrected in the wake of comments from Japan’s currency chief Masato Kanda, who said G7 countries continue to stress that excessive swings and disorderly moves in the foreign exchange market were harmful for economies. US Stockpiles expanded to 10-month high. The data overshadowed the impact of geopolitical tensions in the Middle East as traders await Israel’s response to Iran’s unprecedented recent attack. President Joe Biden called for higher tariffs on imports of Chinese steel and aluminum.   Financial Markets Performance:   The USDIndex stumbled, falling to 105.66 at the end of the day from the intraday high of 106.48. It lost ground against most of its G10 peers. There wasn’t much on the calendar to provide new direction. USDJPY lows retesting the 154 bottom! NOT an intervention yet. BoJ/MoF USDJPY intervention happens when there is more than 100+ pip move in seconds, not 50 pips. USOIL slumped by 3% near $82, as US crude inventories rose by 2.7 million barrels last week, hitting the highest level since last June, while gauges of fuel demand declined. Gold strengthened as the dollar weakened and bullion is trading at $2378.44 per ounce. Market Trends:   Wall Street closed in the red after opening with small corrective gains. The NASDAQ underperformed, slumping -1.15%, with the S&P500 -0.58% lower, while the Dow lost -0.12. The Nikkei closed 0.2% higher, the Hang Seng gained more than 1. European and US futures are finding buyers. A gauge of global chip stocks and AI bellwether Nvidia Corp. have both fallen into a technical correction. The TMSC reported its first profit rise in a year, after strong AI demand revived growth at the world’s biggest contract chipmaker. The main chipmaker to Apple Inc. and Nvidia Corp. recorded a 9% rise in net income, beating estimates. 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 HFM 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 HFMarkets 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: 17th April 2024. Market News – Appetite for risk-taking remains weak. Economic Indicators & Central Banks:   Stocks, Treasury yields and US Dollar stay firmed. Fed Chair Powell added to the recent sell off. His slightly more hawkish tone further priced out chances for any imminent action and the timing of a cut was pushed out further. He suggested if higher inflation does persist, the Fed will hold rates steady “for as long as needed.” Implied Fed Fund: There remains no real chance for a move on May 1 and at their intraday highs the June implied funds rate future showed only 5 bps, while July reflected only 10 bps. And a full 25 bps was not priced in until November, with 38 bps in cuts seen for 2024. US & EU Economies Diverging: Lagarde says ECB is moving toward rate cuts – if there are no major shocks. UK March CPI inflation falls less than expected. Output price inflation has started to nudge higher, despite another decline in input prices. Together with yesterday’s higher than expected wage numbers, the data will add to the arguments of the hawks at the BoE, which remain very reluctant to contemplate rate cuts. Canada CPI rose 0.6% in March, double the 0.3% February increase BUT core eased. The doors are still open for a possible cut at the next BoC meeting on June 5. IMF revised up its global growth forecast for 2024 with inflation easing, in its new World Economic Outlook. This is consistent with a global soft landing, according to the report. Financial Markets Performance:   USDJPY also inched up to 154.67 on expectations the BoJ will remain accommodative and as the market challenges a perceived 155 red line for MoF intervention. USOIL prices slipped -0.15% to $84.20 per barrel. Gold rose 0.24% to $2389.11 per ounce, a new record closing high as geopolitical risks overshadowed the impacts of rising rates and the stronger dollar. Market Trends:   Wall Street waffled either side of unchanged on the day amid dimming rate cut potential, rising yields, and earnings. The major indexes closed mixed with the Dow up 0.17%, while the S&P500 and NASDAQ lost -0.21% and -0.12%, respectively. Asian stock markets mostly corrected again, with Japanese bourses underperforming and the Nikkei down -1.3%. Mainland China bourses were a notable exception and the CSI 300 rallied 1.4%, but the MSCI Asia Pacific index came close to erasing the gains for this 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 HFM 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 HFMarkets 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.vvvvvvv
    • Date: 16th April 2024. Market News – Stocks and currencies sell off; USD up. Economic Indicators & Central Banks:   Stocks and currencies sell off, while the US Dollar picks up haven flows. Treasuries yields spiked again to fresh 2024 peaks before paring losses into the close, post, the stronger than expected retail sales eliciting a broad sell off in the markets. Rates surged as the data pushed rate cut bets further into the future with July now less than a 50-50 chance. Wall Street finished with steep declines led by tech. Stocks opened in the green on a relief trade after Israel repulsed the well advertised attack from Iran on Sunday. But equities turned sharply lower and extended last week’s declines amid the rise in yields. Investor concerns were intensified as Israel threatened retaliation. There’s growing anxiety over earnings even after a big beat from Goldman Sachs. UK labor market data was mixed, as the ILO unemployment rate unexpectedly lifted, while wage growth came in higher than anticipated – The data suggests that the labor market is catching up with the recession. Mixed messages then for the BoE. China grew by 5.3% in Q1 however the numbers are causing a lot of doubts over sustainability of this growth. The bounce came in the first 2 months of the year. In March, growth in retail sales slumped and industrial output decelerated below forecasts, suggesting challenges on the horizon. Today: Germany ZEW, US housing starts & industrial production, Fed Vice Chair Philip Jefferson speech, BOE Bailey speech & IMF outlook. Earnings releases: Morgan Stanley and Bank of America. Financial Markets Performance:   The US Dollar rallied to 106.19 after testing 106.25, gaining against JPY and rising to 154.23, despite intervention risk. Yen traders started to see the 160 mark as the next Resistance level. Gold surged 1.76% to $2386 per ounce amid geopolitical risks and Chinese buying, even as the USD firmed and yields climbed. USOIL is flat at $85 per barrel. Market Trends:   Breaks of key technical levels exacerbated the sell off. Tech was the big loser with the NASDAQ plunging -1.79% to 15,885 while the S&P500 dropped -1.20% to 5061, with the Dow sliding -0.65% to 37,735. The S&P had the biggest 2-day sell off since March 2023. Nikkei and ASX lost -1.9% and -1.8% respectively, and the Hang Seng is down -2.1%. European bourses are down more than -1% and US futures are also in the red. CTA selling tsunami: “Just a few points lower CTAs will for the first time this year start selling in size, to add insult to injury, we are breaking major trend-lines in equities and the gamma stabilizer is totally gone.” Short term CTA threshold levels are kicking in big time according to GS. Medium term is 4873 (most important) while the long term level is at 4605. 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 HFM 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 HFMarkets 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: 15th April 2024. Market News – Negative Reversion; Safe Havens Rally. Trading Leveraged Products is risky Economic Indicators & Central Banks:   Markets weigh risk of retaliation cycle in Middle East. Initially the retaliatory strike from Iran on Israel fostered a haven bid, into bonds, gold and other haven assets, as it threatens a wider regional conflict. However, this morning, Oil and Asian equity markets were muted as traders shrugged off fears of a war escalation in the Middle East. Iran said “the matter can be deemed concluded”, and President Joe Biden has called on Israel to exercise restraint following Iran’s drone and missile strike, as part of Washington’s efforts to ease tensions in the Middle East and minimize the likelihood of a widespread regional conflict. New US and UK sanctions banned deliveries of Russian supplies, i.e. key industrial metals, produced after midnight on Friday. Aluminum jumped 9.4%, nickel rose 8.8%, suggesting brokers are bracing for major supply chain disruption. Financial Markets Performance:   The USDIndex fell back from highs over 106 to currently 105.70. The Yen dip against USD to 153.85. USOIL settled lower at 84.50 per barrel and Gold is trading below session highs at currently $2357.92 per ounce. Copper, more liquid and driven by the global economy over recent weeks, was more subdued this morning. Currently at $4.3180. Market Trends:   Asian stock markets traded mixed, but European and US futures are slightly higher after a tough session on Friday and yields have picked up. Mainland China bourses outperformed overnight, after Beijing offered renewed regulatory support. The PBOC meanwhile left the 1-year MLF rate unchanged, while once again draining funds from the system. Nikkei slipped 1% to 39,114.19. On Friday, NASDAQ slumped -1.62% to 16,175, unwinding most of Thursday’s 1.68% jump to a new all-time high at 16,442. The S&P500 fell -1.46% and the Dow dropped 1.24%. Declines were broadbased with all 11 sectors of the S&P finishing in the red. JPMorgan Chase sank 6.5% despite reporting stronger profit in Q1. The nation’s largest bank gave a forecast for a key source of income this year that fell below Wall Street’s estimate, calling for only modest growth. Apple shipments drop by 10% in Q1. 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 HFM 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 HFMarkets 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.
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