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Mysticforex

Traders Laboratory Forex Trading Contest!

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1. Ingot54

2. PWP

3. Youri

4. Obsidian

5.

6.

7.

8..................

HELLO, you can add me,pls :)

i have like contest with money prize

when started this contest and how long will be have this contest?

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Hi Ingot! Hi all!

I am interested also.

Oanda is fine by me.

 

 

 

1. Ingot54

2. PWP

3. Youri

4. Obsidian

5.

6.

7.

8..................

Edited by kuokam

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While it's admittedly a different form of contest, and on a different (if not competing) site, you might also consider surfing over to 100 Fold Challenge -> Interested? TEST yourself @ Forex Factory and having a look at the 100 fold challenge. I note that they provide a mechanism there for having your trades monitored and their results compared to those of others.

 

Just a thought...

 

Regards.

 

dwt

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1. Ingot54

2. PWP

3. Youri

4. Obsidian

5. Xparm

6. MP21

7. UWCFX

8. Koukam

9. Mystic Forex

10.

11.

12.

13.

14. ..................

 

Welcome to those brave enough to have a go - good on you. Keep those entries coming in folks.

 

The next step is to get a demo account established at Oanda ... and spend the rest of the free time you have getting used to trading the platform (position sizing, opening and closing trades ... the usual stuff).

 

You will only need your Oanda account number and your username to enter.

 

Go to OANDA - Forex Trading and Exchange Rates Services | OANDA

and scroll down to "Forex Trading" and select "Forex Demo Account."

Forex Demo Account | OANDA fxTrade

 

Just register, follow the instructions and you are on your way.

 

Later I am sure we will have the contest registered, and a link will be provided for you to click to join.

 

Mystic Forex is the man - he ran the contest seamlessly last year. When we get the numbers, I think he can be coaxed to run it again ... please?

 

Note to Mystic: I am including your name in the list of contestants ... you know you want to do this! :cool:

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Well then, looks like we're a go.

I'll set up the contest over the weekend. Remember, this is for September.

This will give those not familiar with Oanda a month to acquaint themselves with the platform,

FXTrade.

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I know there are a lot of people trading Forex, or just getting into it, who read the Forex threads. I found over 80 people in the Forex threads who have posted in the past year or two, and I believe there are many more who read a lot, but never post.

 

You know who you are - you have been a member of TL for a long time - some of you going back years. Some of you have never posted here, and some of you have only 3, 8 or a dozen posts in those years.

 

No one knows who you are, personally speaking - all of us are just names on a screen. But behind that, we are human beings who are trying to do better - struggling to make the switch from working for wages to getting some regular money from Forex trading.

 

These kinds of competitions can only be for your benefit. Firstly the act of participating exposes you to effort - it makes you get your act together and trade in a situation where you feel you need to do some firm analysis and make trading decisions.

 

Secondly it exposes you to other traders who are not doing too badly, and gives you an opportunity to see what can really be done in this financial field.

 

Thirdly - it gives you an opportunity to put a new strategy to the test, under disciplined conditions. You will only have one month to find a trade, and execute it through all of the steps - position-size it, get it to break-even, and manage it through to its exit.

 

There are other benefits such as meeting other traders and getting to share in their way of trading - most will share either publicly or privately with you, if you ask them. I know many traders want to keep their strategy close to their chest - that's good too, but at the end of the day everyone learns and we become better for the effort.

 

I could keep going like this, but my point here is to simply encourage people who are shy, or not wanting to expose their good or bad trading to the public, to try to put that aside, and take the plunge here.

 

No one s going to care or remember much of who did what in this contest, and certainly no one is going to be exposed to any detriment for not winning. There will be only one winner - the rest of us are hardly going to be ashamed for being a part of it.

 

That's why I urge you, if you are interested, to just have a go. This is one of the best opportunities around to try out trading with people in a decent forum, who can only help you do better.

 

If you have any concerns about how to participate, how to register with Oanda, or anything else to do with getting organised, but don't feel you could ask that here - send me a pm, and I promise I will work with you to get started.

 

I know also that there are hundreds of people who do not consider their English skills to be "good enough" to try this.

 

Let me ask you - when will your language be good enough? And now, let me tell you - if you can read this, then you are already good enough. I have had to learn a foreign language, so I understand the pressure to be understood. But I know TL is a good forum, where people are inclined to understand and help you - please don't worry that your English is not good enough - we will understand you - just try.

 

Participation in this contest could be the best step you could make to finally get your trading moving forward. Most of us here were also beginners at one time, but there certainly were not these opportunities around 8 years ago when I began trading.

 

And there were even fewer people who knew what they were doing, or who wanted to help others.

 

Sorry if I sound patronising - I don't mean to be. I just want people to feel accepted and to try this, knowing they are in good company.

 

Have a go.

 

Kind regards

 

Ivan

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Im trying to for the fun of it but replies under moderation :/

 

1. Ingot54

2. PWP

3. Youri

4. Obsidian

5. Xparm

6. MP21

7. UWCFX

8. Kuokam

9. Mystic Forex

10.Nicoacademia

11.

12.

13.

14.

15. ..................

 

Keep posting Nicoacademia - the delay in your post appearing is an unfortunate side-effect of the influence of spammers on our freedom. I think you need around ten posts from memory to overcome the delay.

Thanks for your entry - it is encouraging.

 

The comp starts with market open on Monday 3rd September, and ends with market close Friday 28th September. Mystic Forex will have more to say about this under the rules to be announced, and it is possible there will be a refinement to the closing hour at the end, to allow for position closure and calculation. It was midnight last time on the last (trading) day of the month.

 

By the way - welcome to Traders Laboratory, and to the contest. In this laboratory you will find a mixed bunch of market scientists indeed!

5aa711222cca8_Workingonit....gif.c0d8c9d061f1ca4a071f70bcdd0466d3.gif

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the interesting thing is that i'm travelling during september. so i guess i will get a position in and see what happens from there.

even on the 28th Sept i would be travelling so i will see how i can close the position. haha.

 

but still i will try my best. :)

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https://fx2.oanda.com/mod_perl/fxcontest/fxcontest.pl?rm=listContestshttps://fx2.oanda.com/mod_perl/fxcontest/fxcontest.pl?rm=listContests

 

 

 

 

Here is the link to join the contest ( after you have an FXTrade practice acct ).

This page, or pages will show all the current contests with starting and ending dates.

Find Sept 2012 Traderslaboratory forex trading contest and select "Join".

 

You will asked to enter the Username and Password you created when you opened your practice acct.

( this or any other information will ever be displayed to anyone else )

 

You then must enter a "Display Name" .This should be the name/handle you use on Traderslaboratory, and the name we will see.

 

If anyone needs help getting setup, drop me a PM.

 

So far the rules will be as follows:

Highest percentage gain at the conclusion of the contest wins.

Anyone exceeding a 5% max Draw Down is eliminated.

You can use any instrument offered on the platform.

 

 

Very Important !

Before the start date of the contest you can add, or subtract imaginary funds as often as you like. If you do this during the contest period you will be eliminated.

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the interesting thing is that i'm travelling during september. so i guess i will get a position in and see what happens from there.

even on the 28th Sept i would be travelling so i will see how i can close the position. haha.

 

but still i will try my best. :)

 

The phone apps they have will work on demo/practice accts. At least the one for Iphone does.

Hope this helps.

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So far the rules will be as follows:

Highest percentage gain at the conclusion of the contest wins.

Anyone exceeding a 5% max Draw Down is eliminated.

You can use any instrument offered on the platform.

 

Very Important !

Before the start date of the contest you can add, or subtract

imaginary funds as often as you like. If you do this during the

contest period you will be eliminated.

 

Mystic ... could you please extrapolate that rule highlighted in red.

 

Does the 5% refer to the combined DD of ALL positions ... or just individual trades?

 

If I set a SL of 5% of trading capital per pair, that would be $2500 risk on each trade

if using a $50k a/c size. 10 simultaneous trades means $25k at risk of DD ... 50% of a/c.

 

On the other hand (there is always another hand) 5% DD means I

could have a max $2500 at risk of DD at any one occasion. Some

traders don't have a lot of DD ... others swim in it!

 

Could you define the exact meaning - total a/c DD ($2500) ... or per

pair/instrument traded ($2500 DD per position).

 

Thanks ... and thanks for taking this contest forward.

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Mystic ... could you please extrapolate that rule highlighted in red.

 

Does the 5% refer to the combined DD of ALL positions ... or just individual trades?

 

If I set a SL of 5% of trading capital per pair, that would be $2500 risk on each trade

if using a $50k a/c size. 10 simultaneous trades means $25k at risk of DD ... 50% of a/c.

 

On the other hand (there is always another hand) 5% DD means I

could have a max $2500 at risk of DD at any one occasion. Some

traders don't have a lot of DD ... others swim in it!

 

Could you define the exact meaning - total a/c DD ($2500) ... or per

pair/instrument traded ($2500 DD per position).

 

Thanks ... and thanks for taking this contest forward.

 

 

As traders we have to set limits on what is an acceptable loss. We have all heard people say "Never risk more than 2% of your acct" etc etc.

Draw down is unrealized loss. A losing trade that is kept open. Say you have a $10K acct. Keeping a trade open that is more than $500 down, or 5% would be unacceptable in real life ( I hope ).

Having this rule prevents us from becoming cowboys at a rodeo, and to trade like we would in real life ( again, I hope ).

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Well...this sounds like fun :)

 

How long is it? just sept? till the year end? 12 months?

 

Lemme know, and I'll join.

 

and to clarify, we can't let any SINGLE position drawdown 5%...however, if we have 5 seperate positions open in 5 seperate markets, each down 1%, that is acceptable... right?

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Well...this sounds like fun :)

 

How long is it? just sept? till the year end? 12 months?

 

Lemme know, and I'll join.

 

and to clarify, we can't let any SINGLE position drawdown 5%...however, if we have 5 seperate positions open in 5 seperate markets, each down 1%, that is acceptable... right?

 

 

For the month of September. Welcome aboard !

 

No, You can't have more than a total of 5% drawdown.

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IMHO 5% as a combined dd looks if a bit short. You can have that in 2 or 3 three losing trades, or in 1 at certain times with high volatility.

If I could achieve that I would consider myself very good. But maybe it is time to aim at it.

 

 

For the month of September. Welcome aboard !

 

No, You can't have more than a total of 5% drawdown.

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1. Ingot54

2. PWP

3. Youri

4. Obsidian

5. Xparm

6. MP21

7. UWCFX

8. Kuokam

9. Mystic Forex

10.Nicoacademia

11. MadMarketScientist

12. ForexTraderX

13. Nviet

14.

15.

16.

17

18. ..................

 

I am in with you guys ;) add me to the the list please

Welcome to Trading Laboratory Forums Nviet ... and thank you for joining the contest.

 

Well...this sounds like fun :)

How long is it? just sept? till the year end? 12 months?

 

Lemme know, and I'll join.

 

And to clarify, we can't let any SINGLE position draw-down 5%...however, if we have 5 separate positions open in 5 separate markets, each down 1%, that is acceptable... right?

Thanks for stepping up, ForexTraderX ... I have added your name to the list of starters. You can still opt out of course.

 

The comp runs just for the Calendar Month of September, defined by the first and last trading days of that month. We should be able to grow this comp, and have it every month. If there is enough interest, the comp could be run over any period of time the members would like.

 

I like the sound of a quarterly contest personally, because of the TF I trade, and because healthy trades don't have to be closed out prematurely to realise profits that will count towards the final tally.

 

Thanks for your interest.

 

Ivan

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How are we going setting up our trading accounts?

 

We have 24 days left in which to establish our Oanda accounts, and become used to executing trades with it.

 

Anyone having problems can ask here for assistance.

 

Also, more vacancies are waiting to be filled for the contest. If I am going to come last in this thing, I want it known that it took a lot of other traders to beat me!:cool:

 

1. Ingot54

2. PWP

3. Youri

4. Obsidian

5. Xparm

6. MP21

7. UWCFX

8. Kuokam

9. Mystic Forex

10.Nicoacademia

11. MadMarketScientist

12. ForexTraderX

13. Nviet

14.

15.

16.

17

18. ..................

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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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