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TheNegotiator

Considerations for a Wannabe Trader...

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Hi C4Warrior!

 

Welcome to TL. Okay so let me give you a few of my thoughts on what you have said.

 

1 - Why

Just try to ensure that when you are trading the focus is on trading well. Money follows trading well not those who are trying to make money.

 

2 - Commitment

Great. Make sure you give yourself ample time to relax and recouperate. Trading can take an awful lot out of you, especially early on in your career.

 

3 - Timeframe/method

I slightly disagree with tradewinds here. Price moves down are often fast and furious. I think you can do well by being good at trading bear markets. But maybe you have to start thinking whether you should have a broader product base for this. I'd agree with TW about not wanting to be just a bear market trader personally though.

 

5 - Money Management

 

I was referring to the money management of your trade and your account. Essentially, risk.

 

6 - Product

 

Doesn't sound like you're a fool. From the amount of time you spend reading by the sounds of it, trading stocks could be the way you succeed. However, an idea about what a particular stock might do is nothing without a thorough trading plan.

 

10 - Computer

 

Overkill perhaps? Lol. Either way, if you are completely inept or just can't be bothered, you have to have a backup and a way to quickly get someone else to fix it. Make sure you can easily get hold of your broker by phone.

 

11 - Internet

 

No idea really. If you have fibre you should be fine though. Check speedtest.net

 

Overall be under no illusions I'd say. You'll likely go through ups and downs like most do, before you really get anywhere. So don't be too dishearted if the cash doesn't just roll in straight away. Be humble or the market will force you to be. Don't fight the market. Use TradersLab every day! Lol.

 

Good luck.

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Can anyone recommend a platform that I should look into for the Emini SP?

 

Thanks!

 

I am looking at Kingsview, but I am sure their are others. Will let you know how it works out, but so far the best for me!

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Hello to everyone here. I've been trading for a little over a year now and finally seeing the light.

I would like to share what I have learned.

 

 

3 - Timeframe/method

If one looks at the Globex market, the moves (trend) are almost perfectly smooth unlike the US markets which can look like a train wreck. If one could stay up all night, one could start trading at midnight (pacific time), I've seen nice moves start then and then pick up speed around 5 and 7 AM, with a final good move before 10:30 to 11, when things get choppy. On occasion a nice reversal starts around 12:30 CT but these are rare. To combat boredom and getting killed by the chop, one should trade only the early morning or after lunch, but the mornings are best.

Simple is better, when trading in real time there is no time to second guess, don't ask me how I know this.

I trade Ichimoku cloud breaks, for the more aggresive trader, looking for candle reversal patterns along with Stochastics (fast line crossing slow) gives an good entry point. Know the target and be prepared to get out. I always use bracket orders and have my broker's number next to me in case my connections drops.

Trade with the longer term trend (1 hour), buy/sell pullbacks and dips. The 20 to 50 day EMAs give good support and resistance.

 

 

5 - Money Management

 

I don't think the often heard 1% or 2% risk on an account is practical, depending on where one enters, it may take more than to not get stopped out, therefore only enter a trade where the stop is as small as possible, on a trend reversal, sometimes easier said than done.

 

6 - Product

 

The Russell 2000 is a lot less choppy than the S&P 500 E-mini, so I trade that. Crude Oil pays even more. I think last week I compared the moves, one trade in crude oil was $2600, Russell was 1400 and ES was 900.

I don't carry my trades overnight since my account is small.

 

7 - Broker

 

My broker is Daniels Trading, i switched to them after being with TradeStation because there is no charge for the platform (from OEC) and no charge for the data feed. The platform is only for Futures. Round trip cost per trade is 5.90 +/-.

Another alternative is Infinity AT, it takes 2700 to start instead of 5K (Daniels Trading and most other brokers). I like and dislike the charting package which is Sierra Charts. You can have separate charts but the toolbars stay with only one chart.

 

10 - Computer

 

I have several computers, all of them old, Pentium 4 with 2 to 4Gb of RAM, two computers I bought for $5 each, so there is no need for thousands of dollars of new equipment, we are looking at charts that don't move like video games. I use three screens, at times I had 5 screens but one should concentrate on only a few markets, preferably not all correlated. Oil seems to precede the ES when it moves. When the ES is not moving up, Oil will go down. So I look at Crude Oil, Russell, Soybeans. Have charts for 5 minutes or less and separate charts for 1 hour or longer to see the bigger picture (support and resistance levels to trade within).

 

11 - Internet

 

I just have middle of the line cable, 100Mbps.

 

12 - Mentors

 

I would stay away from the many services out there. I followed two for months and it was a waste of time and money. A real trader has no time to be talking, perhaps for longer term trading but not intraday.

There are free resouces like Trade with Precision and icecommentary.

 

___________

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Hi Raul and welcome to TL!

 

A couple of comments.

 

Timeframe/method- Wow. If it works, good for you. Otherwise, try to simplify not complicate your trading. Seriously, it's hard to focus on many different and complicated indicators.

 

Computer- If you run anything other than windows xp sp1 then you'll be getting clogged up with such old systems. OS updates and just background stuff like flash and java will hog resources on a system in which they are already low. If you use such a system, make sure it's clean and very well customised, turning off all unnecessary services etc..

 

Up to you though.

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Hello to everyone here. I've been trading for a little over a year now and finally seeing the light.

I would like to share what I have learned.

 

 

3 - Timeframe/method

If one looks at the Globex market, the moves (trend) are almost perfectly smooth unlike the US markets which can look like a train wreck. If one could stay up all night, one could start trading at midnight (pacific time), I've seen nice moves start then and then pick up speed around 5 and 7 AM, with a final good move before 10:30 to 11, when things get choppy. On occasion a nice reversal starts around 12:30 CT but these are rare. To combat boredom and getting killed by the chop, one should trade only the early morning or after lunch, but the mornings are best.

Simple is better, when trading in real time there is no time to second guess, don't ask me how I know this.

I trade Ichimoku cloud breaks, for the more aggresive trader, looking for candle reversal patterns along with Stochastics (fast line crossing slow) gives an good entry point. Know the target and be prepared to get out. I always use bracket orders and have my broker's number next to me in case my connections drops.

Trade with the longer term trend (1 hour), buy/sell pullbacks and dips. The 20 to 50 day EMAs give good support and resistance.

 

 

5 - Money Management

 

I don't think the often heard 1% or 2% risk on an account is practical, depending on where one enters, it may take more than to not get stopped out, therefore only enter a trade where the stop is as small as possible, on a trend reversal, sometimes easier said than done.

 

6 - Product

 

The Russell 2000 is a lot less choppy than the S&P 500 E-mini, so I trade that. Crude Oil pays even more. I think last week I compared the moves, one trade in crude oil was $2600, Russell was 1400 and ES was 900.

I don't carry my trades overnight since my account is small.

 

7 - Broker

 

My broker is Daniels Trading, i switched to them after being with TradeStation because there is no charge for the platform (from OEC) and no charge for the data feed. The platform is only for Futures. Round trip cost per trade is 5.90 +/-.

Another alternative is Infinity AT, it takes 2700 to start instead of 5K (Daniels Trading and most other brokers). I like and dislike the charting package which is Sierra Charts. You can have separate charts but the toolbars stay with only one chart.

 

10 - Computer

 

I have several computers, all of them old, Pentium 4 with 2 to 4Gb of RAM, two computers I bought for $5 each, so there is no need for thousands of dollars of new equipment, we are looking at charts that don't move like video games. I use three screens, at times I had 5 screens but one should concentrate on only a few markets, preferably not all correlated. Oil seems to precede the ES when it moves. When the ES is not moving up, Oil will go down. So I look at Crude Oil, Russell, Soybeans. Have charts for 5 minutes or less and separate charts for 1 hour or longer to see the bigger picture (support and resistance levels to trade within).

 

11 - Internet

 

I just have middle of the line cable, 100Mbps.

 

12 - Mentors

 

I would stay away from the many services out there. I followed two for months and it was a waste of time and money. A real trader has no time to be talking, perhaps for longer term trading but not intraday.

There are free resouces like Trade with Precision and icecommentary.

 

___________

 

Looks like ya got it all figured out. I would recommend Advantage Futures if you have any problems with Daniels. Ya never know how good your brokerage/FCM is until you need to contact them while the exchanges are down and orders are being cancelled in a busy frenzy. Good Luck

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Timeframe/method- Wow. If it works, good for you. Otherwise, try to simplify not complicate your trading. Seriously, it's hard to focus on many different and complicated indicators.

 

Computer- If you run anything other than windows xp sp1 then you'll be getting clogged up with such old systems. OS updates and just background stuff like flash and java will hog resources on a system in which they are already low. If you use such a system, make sure it's clean and very well customised, turning off all unnecessary services etc..

 

.

 

Yes, I agree that anything older than XP sp1 will be trouble, I have sp3 and so far no problems...I think. One problem I have not been able to figure out is why sometimes I lose my internet connection to the trading platlform and charts, it's only a few seconds and reconnects itself but I am troubled by the potential problem. I questioned my isp and they gave me a new modem but no difference. I asked my broker and they did not have any problems on their end. I've seen this with TradeStation and my present platform. I do not know where the problem is, has anyone else had this problem? I don't think my band width is the problem because the connection is never dropped on other programs.

 

In regards to the time frame/method, maybe I made it sound too complicated, I just have a 1-2 minute chart with Ichimoku clouds and Stochastics below that. On another chart I have an hour chart so I can see the previous support and resistance levels and the larger trend.

 

I hope this helps others. Thank you for this thread.

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I have come to the conclusion that my OEC trading platform is the problem. I have read from other people (in other forums) that also had problems with OEC losing connection or freezing but their comments were from a while back. I am going to follow Jleon's suggestion and look at Advantage Futures. Perhaps other members can suggest who they use and if they have had disconnect problems. Thanks in advance.

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Hello all, I am new to trading and I am finding it very challenging. Maybe it is because I started in July of 2011, and we all know what happened in August of 2011. It is just so hard to find a system that works consistently, and in all kinds of markets.

 

A former colleague of mine told me about a strategy called pairs trading, he said it is a better way to manage risk so you make more money (or, lose less money). Has anyone ever traded pairs? Where can I find out more information about how to do this?

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Hello all, I am new to trading and I am finding it very challenging. Maybe it is because I started in July of 2011, and we all know what happened in August of 2011. It is just so hard to find a system that works consistently, and in all kinds of markets.

 

A former colleague of mine told me about a strategy called pairs trading, he said it is a better way to manage risk so you make more money (or, lose less money). Has anyone ever traded pairs? Where can I find out more information about how to do this?

 

Maybe your colleague is talking about spread-trading.

This site maybe a source of info:

What is Spread Trading?

 

I haven't actually traded this strategy but I'm thinking of trying it, (paper trade), using index futures (eg. ES/NQ).

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Hello all, I am new to trading and I am finding it very challenging. Maybe it is because I started in July of 2011, and we all know what happened in August of 2011. It is just so hard to find a system that works consistently, and in all kinds of markets.

 

A former colleague of mine told me about a strategy called pairs trading, he said it is a better way to manage risk so you make more money (or, lose less money). Has anyone ever traded pairs? Where can I find out more information about how to do this?

 

The trouble is Jennie, most people trade pairs(generally pairs are related stocks) or spreads(like NQ vs ES or 10yr vs 30yr treasuries) in the same way as they trade a single or outright contract. In this way, imho it makes it riskier. You have to get good entries and exits on 2(or more) products, commissions are higher(because you do more trades) and you trade bigger size to account for the smaller profit potential. However, if you trade in a way to take bigger moves over the course of the whole day(or week), then it can be a great way to mitigate risk. The really great spread traders I have known in the past, tend to trade around their spreads constantly improving the average core position. But this takes skill and practise-like everything else in trading!

 

Hope this helps.

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Hello all, I am new to trading and I am finding it very challenging. Maybe it is because I started in July of 2011, and we all know what happened in August of 2011. It is just so hard to find a system that works consistently, and in all kinds of markets.

 

A former colleague of mine told me about a strategy called pairs trading, he said it is a better way to manage risk so you make more money (or, lose less money). Has anyone ever traded pairs? Where can I find out more information about how to do this?

 

Jennie,

No strategy works all the time, there are strategies for trending markets and there are strategies for choppy markets and mixed in there are pullbacks and retracements. When you started trading is not the problem.

You can spread trade Binary Options at Nadex, I am sticking with futures, to me it seems that the risk is smaller and the rewards bigger.

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raul- if you're setup through a router or firewall that could be the problem. You are able to go into screen saver > power settings and modify for energy efficiency vs performance, but that shouldn't effect your Internet connection.

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Thanks Tim,

 

I am not going through a router. My power settings are not the problem, neither is my firewall, that is why I think it is OEC.

 

Will open an account with Mirus Futures, I have not seen a disconnect yet.

 

I am now connecting to OpenDNS and so far I only had one short disconnect.

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Hello all, I am new to trading and I am finding it very challenging. Maybe it is because I started in July of 2011, and we all know what happened in August of 2011. It is just so hard to find a system that works consistently, and in all kinds of markets.

 

A former colleague of mine told me about a strategy called pairs trading, he said it is a better way to manage risk so you make more money (or, lose less money). Has anyone ever traded pairs? Where can I find out more information about how to do this?

 

The broker I use (ThinkOrSwim) has a guy that does some webinars on pairs trading; you can go through his archives here: Pairs Trader Archives

BTW.... if you ever type in the url please note that this is .net not .com ( I've seen some very bad reviews about the folks at the .com domain and I don't want you to mistake the two).

Edited by JSChicago

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Hey JS, are you referring to Shaowtrader (Peter Reznicek). Super great guy and fantastic trader. I learned a lot about market internals from him over the years.

 

Hi Tim, the name sounds familiar (Peter Reznicek) so that's probably correct. I'm not a pairs trader and haven't kept up with their webinars on the subject, but their crew seem like stand-up guys that know their stuff.

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1. Why

I'm 23 years old and was recently told I won't be able to fulfill my lifelong dream of being a pilot in the military. Instead of moping and being stagnant, I decided to get going on another career I've been interested in for many years. So, I guess that means I want to make this a career.

 

2. Commitment

Well, I'm moving to Phoenix in a month, so I'll need to get a job to support myself. But I plan on putting in several hours a day into developing a strategy and system.

 

3. Timeframe and method

I'm brand new to this, so I don't know what a swing trader, scalper, position trader, or news traders are. All I know is that I want to eventually just be dealing with futures, and if I'm successful enough, start a hedge fund.

 

4. Account/Investment size

I'm starting with nothing. I don't expect to be live trading for a few months, so that gives me plenty of time to paper trade and come up with a strategy. Not sure how much I'll have to start with to open an account with a broker. I don't even know what markets are available for futures contracts traders. Like I said, I'm BRAND new to this.

 

5. Money management

Like I said, I'm brand new. But I plan on using the next few months of paper trading to come up with a trading method. I come from a poker background, and I've become pretty disciplined in that I don't let my emotions affect my strategy. Once I developed that discipline I've been able to win at least 90% of all the weekly home games I play with my friends. So I know I have the ability to develop a method that will become profitable.

 

6. Product

Like I mentioned before, I want to stick with futures. The amount of research and speculation involved in stocks is a headache to think about. Futures has a huge amount of risk, but also a massive amount of potential for serious profit. I would like to use my own cash to develop my own portfolio. Not too interested in using other people's money to make money. I would feel a lot better about losing my own 10 grand than losing someone else's. I realize it may take 4 or 5+ years to have enough cash to support myself, but I'm willing to go thru all the bad times to get to the good times.

 

7. Broker

No idea who I'd use, I'll think about that once I have cash and a strategy.

 

8. Platform

I don't know which platform would be best for me. But I can say that when I start live trading I'll be using a Mac, and that I'll be dealing with futures.

 

9. New Source

I suppose news will have an affect on futures, but I'm not sure what I'll do when the time comes.

 

10. Computer

I'll most likely be using a Macbook Pro when the time comes.

 

11. Internet

My internet in Phoenix will be high speed and sufficient.

 

If anyone has any suggestions on where I should start, like what books to read or what websites to look at (especially for futures contracts) It would be much appreciated. I'm currently spending anywhere from 4-8 hours a day of research online, but if I knew where to focus my energy I'd learn a lot quicker. Thank you!

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1. Why

I'm 23 years old and was recently told I won't be able to fulfill my lifelong dream of being a pilot in the military. Instead of moping and being stagnant, I decided to get going on another career I've been interested in for many years. So, I guess that means I want to make this a career.

 

My input would be two specific books, Reminiscences of a Stock Operator by Edwin Lefevre and Pit Bull by Martin "Buzzy" Schwartz. Both are great reads.

 

Btw, I'm also out in Phoenix, well Scottsdale, great place to be this time of you. I use COX Internet.

 

-Tim

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3 choices in trading: give up, give in, or give it your all.” Losses happen, learn from them, and also appreciate & enjoy your winners.

 

Well said. I think you have to give anything you do your all. Know the rules of the game, and what your cutoff point is going into it and then commit to putting in the time and hard work. That's been my approach towards most things in life and it's worked out well.

 

A quitter never wins and a winner never quits.

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Hi All,

 

As a trading beginner, I started using spreadbetguru.com copied the trades the guru was placing and looked at the chart to see if I could see what i was doing...it was tricky at first because you have to be ready to place the trade when you are told to....but ive gotten the

hang of it and i can see what the guru is doing in where he is placing his trades with stoploss profit target etc...what i would say is that you do lose...but end up making money daily. Spreadbetguru I would say is a decent site that helps show you where a trader is placing trades which you will be able to pick up on when looking at charts.

 

Apart from this, I think I will stick with trading Dow Jones, too scared to try any other market now.

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Philadelphia Fed Manufacturing Survey (USD, GMT 12:30) – The Philly Fed index is seen falling to 7.0 from 12.0 in September, versus a 1-year high of 21.8 in July and a 33-month low of -4.1 in February. The late-September producer sentiment surveys deteriorated significantly after firmness in the early-September reports, and the early-October data will be closely scrutinized to see if this pull-back continued. The “soft data” surveys are at risk of a possible impact from the UAW-GM strike, alongside the ongoing headwind from troubles abroad. Fedspeak: Fed Bowman and Fed Williams (USD, GMT 18:00 and 20:20) Friday – 18 October 2019 European Council Summit on Brexit China Gross Domestic Product (CNY, GMT 02:00)- Chinese GDP is projected to see additional moderation to a 6.1% y/y pace in Q3, from 6.2% in Q2. Industrial Production and Retail Sales (CNY, GMT 02:00) – The September industrial production is forecast at 4.5% y/y from 4.4% previously, while September retail sales likely improved to 7.7% y/y from 7.5%. Fedspeak: Fed Kaplan and Fed Clarida (USD, GMT 15:00 and 15:30) 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.
    • This should really be very easy, but I can't find an article or video to walk me through it. I picked 20 ticker symbols where the stocks are in a tight trading range. I got them all into one list I call "Channel". I'd like to add several indicators that apply to all, such as MACD, volume, 3 moving averages. Then I'd like to scroll through the list, adding trendlines, or horizontal lines to mark the top & bottom of the price channel for each. Then set an alarm for a breakout in each direction that indicates a breakout. Could you point me to an article or video that walks me through how to do this? ...or give me the steps? Thank you, RichardV2, Experienced stock trader back before the Internet was invented.😁
    • The Economic Proscription of U.S. Farmers by China Maybe Forever   Similar to a black eye on the face, it’s placing an indelible imprint. The retaliatory levies by China over U.S. commodity producers, such as soybeans, which seem to be forever. The moment such happens for the market it becomes irreversible.   It’s a dread numerous farmers from North Dakota to Mississippi have recognized for as far back as last year. They worry that they’ve put millions in soybean development on account of China. Since Chinese focus is now transferred towards Brazil rather, that market might be gone forever.   Once the confidence merchants have in the U.S. declines as a steady provider because of the trade dispute, the more vital its important for them to support and further broaden other avenues.   The developing danger for American agribusiness presently is that a great part of the piece of the overall industry lost throughout the year will be hard or difficult to win back at any point shortly, the Boston Consulting Group said in a detailed analysis discharged on Wednesday.   This is for the most part because of long term contracts that are regularly recorded among purchasers and sellers, contingent upon the item. The lesson from the analysis shows that U.S. farmers need to turn out to be less reliant on China, and simply trust in the best concerning those customers organizing a rebound sooner or later.   For the time being, China is going to Australia, Brazil, New Zealand, Russia, and also for its domestic producers as an option in contrast to American developed crops and animal proteins.   From the detailed analysis: “The risk that U.S. agribusinesses may for all time lose foreign market share of the overall industry isn’t only hypothetical. In past trade disputes, for example, one with China including beef, the US has not recaptured its lost share. As a result of the increase of U.S. crops and food materials more costly than other choices, high duties bring down the price to merchants who plan to expand. Also, the fewer confidence merchants have in the US as a steady provider, in perspective on the potential for future trade disputes, the more important it progresses toward becoming for them to support and further expand. After some time, merchants could loosen up complex associations with suppliers from the U.S.”   China Receives Blames for the Pressure And this is so because China is important to American farmers. China purchased $19.5 billion in U.S. agricultural items as of 2017, representing 14% of exports of farm produce, in light of BCS analysis. In July 2018, China slammed a 25% levy on U.S. agricultural items.   Exports at that point declined by an incredible 53% for the year. While exports to China have declined also for this year, over past years free fall.   There is another motivation behind why some China customers may not come back to the U.S. China is extending its very own crop acreage, particularly for soybeans. After some time, China will turn out to be progressively independent. Except if request increases generously, China will purchase its very own soybeans, regulating export development and under control in any case.   “Individuals in the business were in a condition of cheerfulness, believing that a bargain would soon be reached,” says Michael McAdoo, associate, and related executive for BCS in Montreal. “Our analysis demonstrates that regardless of whether there is a bargain, there is worry that a similar volume won’t return. They need to try different markets,” he declared.   Source: https://learn2.trade 
    • Trade Dispute Responsible for China’s Overwhelming Gold Purchase Rate   China has included more than 100 tons of gold to its stores since it continued purchasing in December, fortifying its position as one of the significant authority collectors as national banks load up on the valuable metal.   The People’s Bank of China grabbed progressively gold a month ago, raising reserves to 62.64 million ounces in September from 62.45 million in August, as per information on its site. In tonnage terms, the most recent inflow sums 5.9 tons and comes in as an expansion of about 99.8 tons over the earlier nine months.   Bullion hit the most noteworthy in over six years in September as more slow development, the trade dispute and rate reductions prodded financial specialist request. National banks have been significant purchasers as well, particularly in developing markets. Administrative demands will probably proceed as protectionist strategies and geopolitical concerns add to the request, as forecasted by Suki Cooper, the valuable metals investigator at Standard Chartered Bank.   “With the stressed partnerships with the U.S., China requires support against its enormous possessions of the dollar, and gold serves that capacity,” said Howie Lee, a financial specialist at Singapore-based Oversea-Chinese Banking Corp. “As China turns into a superpower in its very own right, I anticipate progressively gold-purchases.”   China’s High Gold Appetite The PBOC’s continuos running of bullion-purchasing has come against the difficult setting of the trade dispute with the U.S. furthermore, a stamped lull in development at home. While high-level discussions are set to continue in Washington this week, Chinese authorities are flagging they’re progressively hesitant to consent to an expansive bargain.   Spot gold spiked to as much as 0.4% to $1,511.31 an ounce on Monday and exchanged at $1,505.84 in early London exchange. While the value declined 3.2% in September, they remain high at 17% this year. The PBOC information was discharged at the end of the week. Alongside China, Russia has additionally been including generous amounts of bullion. In the initial half-year, national banks overall got 374.1 tons, supporting the overall gold request to a three-year high, the World Gold Council declared.   While a tenth straight month of amassing, shows an unfaltering purchasing trend for the PBOC, China has in the past gone for significant stretches without uncovering moves for its gold possessions. At the point the national bank declared a 57% bounce in savings to 53.3 million ounces in mid-2015, that was the first update in quite a while.   Source: https://learn2.trade   
    • GBPJPY Reverses Its Sell-Off Around the Level at 130.75  OCTOBER 9, 2019  Azeez Mustapha  No Comments   GBPJPY Price Analysis – October 9 In the prior session, the pair closed lower for the second day in a row, but currently, the GBPJPY displays a weakness further downside of the pair while retaining its wider medium-term outlook by temporal reversal on the level at 130.75.   Key Levels Resistance Levels: 148.66, 137.80, 135.774 Support Levels: 130.75, 128.68, 126.54   GBPJPY Long term Trend: Bearish In the bigger picture, the GBPJPY consolidation structure is still forming from the technical support zone on the level at 126.54 low.   A further upward move may be recorded towards the level at 146.57 and 148.66 in an extension where its resistance is glaring before completing the structure. However, the overall trend remains bearish while displaying an intact downtrend in the medium and long-term.   GBPJPY Short term Trend: Bearish On the 4-hour time frame, its price is trading narrowly between the moving average 5 and 13 close to the key technical support level at 130.44.   As it is presently, the intraday bias in GBPJPY remains on the downside at this point where a corrective rebound from the level at 126.54 low should have completed. Meanwhile, its 4-hour RSI is bearish and pointing lower suggesting further weakness.   Source: https://learn2.trade 
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