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Tasuki

Tradestation Vs Multicharts

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Tradestation has given me notice that they won't be supporting my favorite version of their software, the old version 8.7 (later versions suck). So, I'm considering where to go, and I heard somewhere that I might be able to import my Tradestation indicators into Multicharts. Is this true? If anyone knows, please gimme some advice here. How similar is Multicharts to Tradestation? Are there any major disadvantages to Multicharts?

Thanks,

Tasuki

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Tradestation has given me notice that they won't be supporting my favorite version of their software, the old version 8.7 (later versions suck). So, I'm considering where to go, and I heard somewhere that I might be able to import my Tradestation indicators into Multicharts. Is this true? If anyone knows, please gimme some advice here. How similar is Multicharts to Tradestation? Are there any major disadvantages to Multicharts?

Thanks,

Tasuki

 

you can import most of the Tradestation indicators into MultiCharts.

 

"most" means not 100%.

 

it is easier to import TS indicators into MC than the other way around,

because MC has added a host of new keywords that are not available in TS.

eg. sub-minute analysis keywords.

 

some indicators might need minor adjustments.

eg. if the indicator has multiple plots, MC would place plot1 at the lowest layer, while TS would place plot1 at the highest layer.

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Tradestation has given me notice that they won't be supporting my favorite version of their software, the old version 8.7 (later versions suck). So, I'm considering where to go, and I heard somewhere that I might be able to import my Tradestation indicators into Multicharts. Is this true? If anyone knows, please gimme some advice here. How similar is Multicharts to Tradestation? Are there any major disadvantages to Multicharts?

Thanks,

Tasuki

 

The newer versions of TS include very useful object oriented programming. I am very curious to know what you can do in 8.7 that you can not do in 9.1, or what 8.7 does different from 9.1.

 

The new versions are faster, have made moves towards multi-threading and as far as I know contain all the features of the older versions plus some powerful new features - could you please be more specific in why you say the newer versions "suck."

 

UB

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The newer versions of TS include very useful object oriented programming. I am very curious to know what you can do in 8.7 that you can not do in 9.1, or what 8.7 does different from 9.1.

 

The new versions are faster, have made moves towards multi-threading and as far as I know contain all the features of the older versions plus some powerful new features - could you please be more specific in why you say the newer versions "suck."

 

UB

 

UB,

 

The problem with the newer versions of TS is that they try to be all things to all people. There's a stock scanner which I don't need, and an options platform I don't need, and a Forex platform I don't need, and even an order entry form I don't need [smart scalpers never use TS for order entry], and heaven knows what other crap they've tacked onto their already-massive program. With all of these "appendages" to their charting software, it's quite understandable that their charting software crashes alot. Admittedly, with 12 monitors, 15 workspaces, dozens of charts and more than a hundred indicators, I do push Tradestation more than most people. So, if TS works for you, then great---you're not pushing it, but the older version, 8.7, works just fine, no matter how hard you push it. I'm not the only one---lots of people have complained about the later versions of Tradestation.

Here's a link:

https://community.tradestation.com/Discussions/Topic.aspx?Topic_ID=98851&PAGE=3򔫺

Not sure if you can use that link, but if you can, it takes you to a thread within Tradestation's forum in which users are complaining about TS 8.8 (and 9.0 and 9.1) crashing so hard that it locks up their computer. As a result, Tradestation engineers created a "killscript" (a batch file) to manually shut down Tradestation. That is a stupid way to put a bandaid over the problem (and the killscript doesn't actually work, either). What they SHOULD have done is to take the advice of many users (myself included) and create multiple versions of the software, including one version for futures traders which is "stripped down", meaning that the scanner, the options garbage, the forex garbage and all that nonsense is removed. If Tradestation were really on the ball, they'd create customized versions for options traders, forex traders, stock traders, and futures traders, but they're not that bright, apparently.

 

So, the bottom line is that the newer versions, anything beyond 8.7, suck because they crash, and crash hard. When 9.1 came out, I thought maybe they'd finally gotten their act together, so I installed it, only to find that it crashed hard (froze my computer) within 2 days of using it. I called tech support, and the poor, exhausted tech on the phone said that he'd received so many complaints about 9.1 that he recommended just deleting it and going back to 8.7. I did so, and about a week later I got this message that Tradestation was discontinuing 8.7, hence my desire to find a different charting package.

 

For the record, multi-threading would be a good thing if they could actually get it to work. For the record, computer programming in general is a gimic that is useful only for people who don't know how to trade. It will waste your time and it won't help you make money if you don't already know how to trade. It will, however, provide thousands of hours of programming fun, if that's what you really like to do.

 

Tasuki

Edited by Tasuki

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you can import most of the Tradestation indicators into MultiCharts.

 

"most" means not 100%.

 

it is easier to import TS indicators into MC than the other way around,

because MC has added a host of new keywords that are not available in TS.

eg. sub-minute analysis keywords.

 

some indicators might need minor adjustments.

eg. if the indicator has multiple plots, MC would place plot1 at the lowest layer, while TS would place plot1 at the highest layer.

 

 

Thanks, Tams. Sounds "do-able". My indicators are just the basic ones, slightly tweaked but not re-programmed.

The best part of Tradestation (and the reason I've stayed with them this long) is because their architecture of charts within workspaces within desktops, is miles ahead of other charting packages.

*Does Multicharts have a similar architecture?*

Tx,

Tasuki

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Thanks, Tams. Sounds "do-able". My indicators are just the basic ones, slightly tweaked but not re-programmed.

The best part of Tradestation (and the reason I've stayed with them this long) is because their architecture of charts within workspaces within desktops, is miles ahead of other charting packages.

*Does Multicharts have a similar architecture?*

Tx,

Tasuki

 

MC pretty well started as a copy of TS, but have evolved. The charts within workspaces are the same. You can download a 30 days free trial to test out your indicators.

 

You will find MC runs a bit faster, because it uses all the cores of a multi-core CPU, while TS is only multi-threaded.

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I am using TS9.0 with Windows 7, 64 and have experienced none of the "crash" issues you mention. I am a TS add-on developer and easy language specialist, our apps make great demands on TS and we have none of the difficulties you mention.

 

Multi-charts is a TS knock-off done by some of the same Russian developers that worked on TS. They have no object orientated programming without which system automation is primitive at best.

 

The new TS Order, Price Series and Position objects are the first to make a FIX like protocol available to retail traders.

 

All that is not to mention the data. TS offers 6 mos of tick data and decades of data in 1 minute and up time frames which is more than any vendor that supplies MC and the data is cleaner.

 

But then again all of that means nothing when your position is as stated below that programming/software is "in general a gimic."

 

UB,............For the record, computer programming in general is a gimic that is useful only for people who don't know how to trade. ...........

Tasuki

 

LOL - Tell that to those at Goldman and at Renaissance

 

We disagree and believe that "Success in the markets is not about instinct, divine inspiration or spontaneous intellectual combustion. It is about intelligent data processing, sound method and the management of risk and resource that is both effective and adaptive to change."

 

 

 

UrmaBlume

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The latest version of Tradestation uses all cores of a multi-core cpu. It's data transmission protocal has been totaly rewritten and it rocks.

 

Onesmith, if it's so good, how come their tech support is (according to them) inundated with crash reports on 9.1?

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I don't have any information to answer your question in it's specfic sense as it relates to tradestation. My perception of the typical users hardware and software complaints, in general, and unrelated to tradestation ... is the typical person who needs tech support is either easily hepled and easily satisfied or there's no way they can ever be helped or ever be satisfied. And the loudest users are those that are dissatisfied.

 

Onesmith, if it's so good, how come their tech support is (according to them) inundated with crash reports on 9.1?

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The latest version of Tradestation uses all cores of a multi-core cpu.

 

according to their news release, the new TS version is multi-threaded, but not yet multi-cored.

The new multi-thread would make TS run a bit faster than the previous non-multi-thread version.

 

I might be wrong, after all, multi-core is not new, they should have this done a long time ago.

 

I know people have tested it side by side with MultiCharts, and it is still slower than MultiCharts.

You can take a screen shot of the taskmanager, it will show you whether TS is running multi-core or not.

 

 

 

 

It's data transmission protocal has been totaly rewritten and it rocks.

 

Why would they want to do that ???? Tradestation has the better data management system of all the charting software on the market.

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The new version is multi-cored.

 

The data transmission changes are seamless in that it didn't require any effort on my part because it functions the same as previous versions but I know it's an extensive change over what it was. It's awesome. My use of the word protocol wasn't intended to mean there were any changes in the manner in which users access data but rather in the technology that sends and receives the data.

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UB,

 

The problem with the newer versions of TS is that they try to be all things to all people. There's a stock scanner which I don't need, and an options platform I don't need, and a Forex platform I don't need, and even an order entry form I don't need [smart scalpers never use TS for order entry], and heaven knows what other crap they've tacked onto their already-massive program. With all of these "appendages" to their charting software, it's quite understandable that their charting software crashes alot. Admittedly, with 12 monitors, 15 workspaces, dozens of charts and more than a hundred indicators, I do push Tradestation more than most people.

 

Tasuki

 

You are incorrect in your assessment. I am a far heavier user of TradeStation than you are judging by your stated usage. And My Analysis Techniques usage tax TS to the limits. The key is the computing platform that you're using.

 

If you're truly serious about trading then you'll invest in the best possible platform. The new TS 9.1 takes advantage of it and is quite stable. My minimum system has 16 cores with 16 GB Ram, the fastest processor available with Solid State drives and RAID backup.

 

Admittedly TS 9.1 isn't all it could be, but it is a better charting and automated systems engine than anything else out there in its price class.

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The new version is multi-cored.

 

The data transmission changes are seamless in that it didn't require any effort on my part because it functions the same as previous versions but I know it's an extensive change over what it was. It's awesome. My use of the word protocol wasn't intended to mean there were any changes in the manner in which users access data but rather in the technology that sends and receives the data.

 

Lets clarify this comment as it isn't 100% accurate.

 

TradeStation's charts support multiple cores which allow the workload of each chart to be off loaded on to different cores in a round robin fashion.

 

...but where most people seem to be truly salivating for multicore functionality is in backtesting, and this currently is not multicore.

 

So if you are running 12 monitors and 15 workspaces like the guy that started this thread then the newer version of TS with multicore support probably is of some benefit.

 

But if you are looking to back test all kinds of wild concepts with your new 8 core, Overclocked, Liquid Nitrogen cooled system w/ it's 24GB of Ram & 1TB Raid 0 SSD configuration ...you may be disappointed to see 1 core pegged in your task manager and the other 7 floating around basically at idle.

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Aston01, thank you for correcting that.

 

Tams, he's right about the backtesting still being limited to a single core.

 

 

Lets clarify this comment as it isn't 100% accurate.

 

TradeStation's charts support multiple cores which allow the workload of each chart to be off loaded on to different cores in a round robin fashion.

 

...but where most people seem to be truly salivating for multicore functionality is in backtesting, and this currently is not multicore.

 

So if you are running 12 monitors and 15 workspaces like the guy that started this thread then the newer version of TS with multicore support probably is of some benefit.

 

But if you are looking to back test all kinds of wild concepts with your new 8 core, Overclocked, Liquid Nitrogen cooled system w/ it's 24GB of Ram & 1TB Raid 0 SSD configuration ...you may be disappointed to see 1 core pegged in your task manager and the other 7 floating around basically at idle.

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About three years ago, I considered a move to MultiCharts from Tradestation. Worse experiment I ever made. What a huge gigantic failure. First off, only about 25% of my custom indicators imported. Those with functions had a 100% failure rate, and those without functions was a crap shoot with about 50/50 probability of successful transfer.

 

I kept on trying to work with MultiCharts, but was sorely disappointed in multiple ways. The screen graphics and GUI totally sucked. Other problems arose, but I finally threw in the towel after trying to make it work for about a month.

 

I also resisted the move to Tradestion 9, but glad I finally made the move. Like the other posts pointed out, multithreading has greatly improved. It's fast and stable. I'm running several hundred charts at the same time so I notice these things. I've been with Tradestation since the late 80's and we always stayed one or two releases behind the latest for stability.

 

Anyway, I'm very happy with Tradestation 9. It has a few quarks, but easily over looked or ignored. Tradestation has always had lots of modules, optionstation, radarscreen, etc etc, so I don't understand your beef at this point with all the extras.

 

IMHO, Tradestation will always be the superior platform... by far!!

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About three years ago, I considered a move to MultiCharts from Tradestation. Worse experiment I ever made. What a huge gigantic failure. First off, only about 25% of my custom indicators imported. Those with functions had a 100% failure rate, and those without functions was a crap shoot with about 50/50 probability of successful transfer.

 

I kept on trying to work with MultiCharts, but was sorely disappointed in multiple ways. The screen graphics and GUI totally sucked. Other problems arose, but I finally threw in the towel after trying to make it work for about a month.

 

I also resisted the move to Tradestion 9, but glad I finally made the move. Like the other posts pointed out, multithreading has greatly improved. It's fast and stable. I'm running several hundred charts at the same time so I notice these things. I've been with Tradestation since the late 80's and we always stayed one or two releases behind the latest for stability.

 

Anyway, I'm very happy with Tradestation 9. It has a few quarks, but easily over looked or ignored. Tradestation has always had lots of modules, optionstation, radarscreen, etc etc, so I don't understand your beef at this point with all the extras.

 

IMHO, Tradestation will always be the superior platform... by far!!

 

Thanks, smmatrix,

Now this is news I can use. Sadly, I was hoping to make the move to Multicharts seamlessly, but now I'll have to investigate Multicharts more carefully. Drat it, but thanks for the heads up.

With all the negative feedback I've heard about Tradestation from my trader friends who are users (and mostly former users), I am extremely surprised by the positive comments that we've seen in this thread. Almost makes me wonder if the glowing reviews aren't being posted by TS employees or moles within Traders Lab. Sorry guys if this sounds offensive, but honestly, in my 13+ years of trading I have never heard so many people praise Tradestation so unequivocally. Just a bit odd, and it makes me scratch my head in wonder.

Tasuki

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Thanks, smmatrix,

...Sorry guys if this sounds offensive, but honestly, in my 13+ years of trading I have never heard so many people praise Tradestation so unequivocally. Just a bit odd, and it makes me scratch my head in wonder.

Tasuki

 

It is not unusual for people who cannot turn a profit (losers) to find anything but themselves as the underlying reason for their problems.

 

And I'm sure I'll get blasted for this statement, but the undeniable fact is that 90% of ALL traders lose, 5% break even, and 5% make money. That includes everyone on this board...you know who you are.

 

I used to be a loser and would try to blame everything other than my own ignorance, lack of preparation, no quantifiable or definable edge, and poor discipline. So I speak from experience.

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Thanks, smmatrix,

Now this is news I can use. Sadly, I was hoping to make the move to Multicharts seamlessly, but now I'll have to investigate Multicharts more carefully. Drat it, but thanks for the heads up.

With all the negative feedback I've heard about Tradestation from my trader friends who are users (and mostly former users), I am extremely surprised by the positive comments that we've seen in this thread. Almost makes me wonder if the glowing reviews aren't being posted by TS employees or moles within Traders Lab. Sorry guys if this sounds offensive, but honestly, in my 13+ years of trading I have never heard so many people praise Tradestation so unequivocally. Just a bit odd, and it makes me scratch my head in wonder.

Tasuki

 

Seriously, Tradestation is a superior platform. Personally, I have never liked their brokerage and that may be the complaints you're hearing, because I have never heard anyone complain about Tradestation charting. I have seen and used other platforms such as eSignal, ThinkorSwim, Multicharts, Sierra Charts and none of those hold a candle Tradestations abilities. For example, when I write a new indicator, I often write a a script with it and test probabilities over 10 years of 1-min candles. I believe that is about 11 million total candles. What other platform will allow me to write, test my code to this degree? I'm a statistical trader, so these numbers are important for the way I trade.

 

But, besides backtesting capability, just the look and feel of the Tradestation platform really feels like real trading to me. I'm sorry, but that other stuff, java based charts seems toy'ish to me, but this is probably because I've used the platform since 1989.

 

Regarding Tradestation moles, I don't think you'll find any here. LOL. Tradestation does not allow any of its sales reps to work the forums.

 

Best of trading success to you!

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Seriously, Tradestation is a superior platform. Personally, I have never liked their brokerage and that may be the complaints you're hearing, because I have never heard anyone complain about Tradestation charting. I have seen and used other platforms such as eSignal, ThinkorSwim, Multicharts, Sierra Charts and none of those hold a candle Tradestations abilities...

Best of trading success to you!

 

I too am a statistical trader, using a mean reversion strategy trading futures with Statistical Arbitrage, and I have also tried the same platform as you. I'm compelled to support the other platforms, like Sierra Charts, and ToS, because members of my Trade Room have committed to their platform. But the support I can offer is limited due to the inferior charting and indicator support compared to TS.

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I run both TS and MC, as well as a few other platforms. I was a user of TS since the very early days of the 1990's.

 

MC is much, much faster than TS in Optimisation. TS has historical data, MC needs 3rd party historical data. The newest 64bit MC allows almost unlimited ticks historically. The amount of RAM you have is your limit. I get load failures on TS with complex strategies and trying to optimise over lots of tick data.

 

I predominantly use MC for my trading.

 

Each has pluses and minuses so choosing what features are dealbrakers for you will help your choice.

 

EL

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MC is much, much faster than TS in Optimisation. TS has historical data, MC needs 3rd party historical data. The newest 64bit MC allows almost unlimited ticks historically. The amount of RAM you have is your limit. I get load failures on TS with complex strategies and trying to optimise over lots of tick data.

EL

 

As I said earlier, you need to have the proper equipment for the job. My minimum workstation has 16 cores (Westmere processor), 16 GB of RAM and 512 GB SSD drives, with 2 terabyte RAID backup. My top end system has 24 virtual cores, liquid cooled, 32 GB RAM SSD and large RAID drives connected via Thunderbolt.

 

By the way, I'm all Macintosh and run TradeStation on Windows 7 using both Parallels and VM Ware. I also do parallel processing with XGrid and can create a compute environment (essentially a supercomputer) with as much resources as I need for specialty tasks.

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Seriously, Tradestation is a superior platform. Personally, I have never liked their brokerage and that may be the complaints you're hearing, because I have never heard anyone complain about Tradestation charting. I have seen and used other platforms such as eSignal, ThinkorSwim, Multicharts, Sierra Charts and none of those hold a candle Tradestations abilities. Best of trading success to you!

 

smmatrix,

While I'm not familiar with Multicharts, the other charting packages you mentioned are just about the bottom of the barrel. No surprise that TS is better. However, had you tried Ninjatrader, Ensign, Neoticker, Realtick, or InvestorRT, you might have had a better experience. In all those cases, however, the move from TS would require a complete re-write of all my indicators, which is why I was inquiring in this thread about Multicharts.

 

If you're a stat trader, you should maybe check out Neoticker. It's not for people like me, but it might be right up your alley. If you listen to them, their backtesting totally beats the hell out of TS, but I can't speak from personal experience. But seriously, you should check out Neoticker.

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I run both TS and MC, as well as a few other platforms. I was a user of TS since the very early days of the 1990's.

 

MC is much, much faster than TS in Optimisation. TS has historical data, MC needs 3rd party historical data. The newest 64bit MC allows almost unlimited ticks historically. The amount of RAM you have is your limit. I get load failures on TS with complex strategies and trying to optimise over lots of tick data.

 

I predominantly use MC for my trading.

 

Each has pluses and minuses so choosing what features are dealbrakers for you will help your choice.

 

EL

 

EL, Finally, somebody who likes MC steps up to the plate. Many thanks for your contribution to the thread. May I ask, what data feed do you recommend for Multicharts?Thanks again!

Tasuki

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There are quite a few things I really do like with Tradestation, but like anything else if you use something frequently enough there are always a couple of things you would like improvement on.

 

1.) Multicore back testing - This can be just an annoying bottle neck that becomes blatantly obvious even if you are testing anything more than a moving average cross on tick data from a very limited time frame.

 

2.) Graphics - Obviously this doesn't effect the functionality which is the main reason for using TS to begin with, but after trialing the new version of eSignal for a month I have to say at first glance I thought I was taking a set backwards in some respects moving to TS. I know there a lot of hard core traders and programmer types out there that don't want to waste the resources on fancy graphics and don't think it matters. I am from the school of thought that thinks presentation is what draws you in and makes you feel comfortable ...functionality is what makes you continue to hang around. In that regard TS is a little behind the ball with their Windows 98 graphic styling .

 

3.) Broker options - There are a lot of positives about using TS as a broker, but with no volume breaks and over simplified commissions unlike IB and some of the other brokers out there it can get a bit annoying .

 

Say I get a wild hair and decide I want to buy some OTM option contacts that are going for $.05 ($5 total) . With TS my commission each way successful or not is $1 ...on that $5 I am paying 40% commission before slippage. IB for example charges a $1 minimum, but after that the commission is $.25 per contract($.15 if you are regularly doing a lot of volume)

To sum it up

 

TradeStation

$5 x 10 (Contracts) = $50

+

$1 Commission x 20 (Round trip commission) = $20

 

= 40% commission (requires a 67% increase just to cover the commission)

 

 

Interactive Brokers

$5 x 10 (Contracts) = $50

+

$.25 Commission x 20 (Round trip commission) = $5

 

= 10% commission ( $3 or 6% if your doing large volume) which only requires an 11% increase to cover

 

 

Everyone is always concerned about draw downs, but such a substantial cost before slippage can really limit certain types of transactions I would consider doing through TS. I may be ignorant at the beginning and not think much of it, but when you start doing volume it almost forces you to leave TS for some things...which kind of makes wonder why they would want to drive you to use someone else as opposed to stay with their monopoly. From this aspect Multicharts does get a thumbs up over TS.

 

BTW - I know there are a couple of offerings out there like TWSLink that let you utilize other brokers from within TS, but I haven't run across anything yet that seems to be kept up to date enough to feel secure that it is going to work flawlessly in the heat of the moment when you have a large position that you don't want any errors with. If someone has run across something that works well please let me know I would love to find a solution.

Edited by Aston01

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    • 4 months in and Marketsmith has done really NOTHING for me......still waiting for that stock that will make the year worth it and pay for the $1500 dollar price tag......the paper has become virtually useless......especially since I used it for Political mostly political reference with Issues and Insights.......the rest of the paper is mostly geared to Stock advisers.....not the regular guy........way to boring saying nothing but how to treat guys like me.........this could be my last year.
    • Date : 22nd July 2019. MACRO EVENTS & NEWS OF 22nd June 2019.No deal Brexit risks will continue to unsettle markets next week as the two candidates hardened their rhetoric in end stages of the party elections. The ECB however will stand out as the event of the week,with Brexit uncertainty an important part of the overall outlook. Have a look at the most important events of the coming days in our usual weekly publication. Tuesday – 23 July 2019   The announcement of the next Prime Minister of the UK – Event of the week – Original Brexit campaigner Boris Johnson remains the front runner in the race and is widely expected to be confirmed as the new Prime Minister next Tuesday. Housing Data (USD, GMT 14:00) – A steady rate is anticipated for existing home sales in June at the firm 5.340 mln pace seen in May. The median sales price is estimated to ease to $275,000, for a y/y gain of 0.4%, down from 4.8% in May. In Q1, we saw an average sales pace of 5.207 mln. In Q2, a better 5.297 mln pace is expected. Wednesday – 24 July 2019   Services and Manufacturing PMI (EUR, GMT 07:30) – Preliminary Composite PMIs for Eurozone and Germany are expected to fall in July, to 51.8 and 52.5 respectively, while the Manufacturing PMIs are forecasted at 48.0 and 45.4 respectively. Services and Manufacturing PMI (USD, GMT 13:45) – Preliminary Manufacturing and Services PMIs are expected to decline in July, to 50.4 from 50.6 and 51.0 from 51.5 respectively. Thursday – 25 July 2019   German IFO (EUR, GMT 08:00) – German IFO business confidence is expected to slip to 96.7, after it held steady the past 2 months around the 97 barrier. Event of the week – Interest rate Decision and Conference (EUR, GMT 11:45) –The ECB is meeting on July 25, – shortly after the confirmation of the new PM in London and ahead of the Fed, which is widely expected to cut rates again at the end of the month. On balance, markets see more merit in keeping official rates unchanged next week, while moving to an official easing bias and promising that rates will be at “current or lower” levels well into next year. ECB Monetary Policy Statement (EUR, GMT 12:30) -The July meeting will clearly be a “live” one with doves and hawks battling it out over when to deliver the now widely expected easing measures. It is expected that the majority will see more merit in keeping policy settings unchanged, but change the guidance to introduce a clear easing bias. Durable Goods (USD, GMT 12:30) – Durable goods orders are expected to rise 1.0% in June, after a -1.3% figure in May. Transportation orders should rise 2.7%. Boeing orders rose to only 9 from just zero in May, with weakness due to the hit from problems with the Boeing 737 Max that prompted buyers to delay new purchase commitments. Vehicle assemblies should ease to 11.1 mln from an 11.3 mln pace in May. Durable shipments are expected to rise 0.5%, and inventories should rise 0.6%. The I/S ratio is expected to hold steady at 1.67 since April. Friday – 26 July 2019   Gross Domestic Product (USD, GMT 12:30) – Gross Domestic Product is expected to grow 1.8% in Q2, with a sturdy 2.4% growth rate for final sales thanks to solid growth rates of 3.9% for personal consumption and 4.3% for government purchases, alongside a big $27 bln unwind of the Q1 inventory pop. 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.
    • WHEN A CHECK/DRAFT IS PAID INTO YOUR ACCOUNT They say it’s a rule from CBN. When a check/draft is paid into your account, especially from someone using another bank, you will receive a credit alert.   The credit alert will be there as an SMS alert, email alert and if you even login to your Internet banking area, you see it there. The name of the sender is not included.   THE STATUS OF YOUR CREDIT The reality is that, the credit will never be added to your available balance. The book balance would be different from the available balance and you won’t be able to use it until after 48 hours. This would give your bank the time to confirm the cheek/draft. If it is genuine, the money would be added to your available balance. If it’s fake, the money would be removed from your account.   Sadly, most members of the public are not aware of this fact. Once many people see credit alerts from their banks, they believe it’s real money and they fall into traps. And scammers know that most people don’t know.   HOW BANKS AID AND ABET SCAMMERS Some banks will send credits alert to you, as soon as a check is deposited into your account. This is wrong, and it’s the loophole that the scammers capitalize on. Why should banks send credits alerts for checks that have not been cleared (checks that have not been confirmed)?   It currency takes up to 48 hours to confirm a check or draft and banks should not send alerts to their customers until that is done. So, if the checks are later proven to be forged/spurious, the money would then be removed from your account. Many customers are not aware of this.   Sane employees of sane banks, know that it saves a lot of things, when a check/bank draft is confirmed before alerting customers. If the one who pays, or the payee is really in a hurry, then they should look for other ways to transfer money. Yes, there are other and better ways to transfer money… And insisting on draft/check should raise suspicion.   A bank that alerts customers without confirming a check is really adding and abetting scammers.   SCAMMERS ARE DIFFICULT TO CATCH Yes, scammers are difficult to catch. Be suspicious of anyone who changes their numbers too often. Once they dupe someone and the person is threatening them, they remove the SIM and that person can never reach them again.   A scammer can pay one-year house rent and spend only a few months  - only to change accommodations. Changing offices is not a big deal to them. They try their best to erase all traces to them and they do their best not to come in your way again, forever.   They’re good at forging documents and using fake addresses and fake things. Until you’re convinced that you’ve been duped, they’ll be giving you guarantee that all is well, and no problem and anything going wrong would be corrected.   Meanwhile, while they’re fooling you that there’s no problem, they’re packing away from their locations.   I can tell you that some (and most of these scammers) are married with children. Some of them are elderly people. Some of them are really gentlemen in society and they still dupe people.   They know about the loopholes in Nigerian laws and they know that if you can even catch one of them, you can never catch the rest of them.   WHAT NIGERIAN BANKS AND CBN CAN DO CBN should instruct Nigerian banks that they should stop giving alerts to customers until the bank drafts and checks paid into their accounts, are confirmed to be valid. If a customer or those who may think they’re in a hurry, then they should use an electronic method or direct cash deposit to pay.   Yes, if they think they cannot wait for 48 hours or you can’t wait for 48 hours, for the bank draft to be cleared, then they should use another means of payment.   In this digital/electronics payment age, when banking technology has advanced so much, how can someone insist on using a bank draft or check to pay people?   Bank officials that don’t alert customers or put “locked” credits in their accounts until the checks have been cleared, are saving lots of lives. Bank officials that send credits alerts, when checks/drafts have not been cleared, are really not doing the right thing.   When banks start to refuse to credit or alert any customers (based on drafts or checks brought in their names), until the checks and the drafts are cleared and confirmed to be genuine, then scammers who forge checks and drafts will go out of the business. That’s the only way.   WHAT SCAMMERS DO AND HOW THEY BEHAVE When people want to scam you, they usually pose as honest, dependable and trustworthy people. They do everything in their capacity to prove to you that you’re safe when doing business with them.   They’ll always tell you that they’ve been duped in the past, and they don’t want to be duped again. They’ll be asking you to confirm that you’re honest and safe to do things with.   They pretend to be very religious.   They pose like lawyers, accountants, bishops, imams, etc. They claim to be holding very high positions in society. They claim to have international experience and connections. They “prove” to be close friends with those who’re working at Chevron, Head of Bureau the Change or a senior nurse at LUTH. etc.   They put on corporate dresses and use cars to deceive people.   They pretend to be who they’re not. They assume titles of the positions you respect. They spend a lot of energy, days and resources (which could have been channeled into other productive things) trying to dupe you.   The best way they get you is through someone you know very well. They may be a family member, a church member, a neighbor, a friend, a customer, etc. Someone you think you can trust. They will come to you through that person, as the one who introduces them to you. You won’t know that the person has a money sharing deal with the scammers.   The premise is: The person you know, who introduces others to you, usually for business or contracts or projects, is presumed by you, as someone who will not deliberately betray you, because you’ve been dealing together for some time.   Some of them may call you through the phone number of the person you know, who introduces you to them.   Sometimes, they insist on using drafts or checks only, to pay you, for a flimsy reason. No matter how, they won’t give up on you until they succeed in duping you.   You won’t know what people are capable of doing, until you find yourself at their mercy.   The best thing is not to fall into their traps in the first place.     HOW THE PUBLIC CAN PREVENT THIS SCAM One of the most effective ways to stop these scoundrels from their usual business and from destroying people’s life, is to create awareness and educate the public on how to guard themselves against these people.   1.         No matter what they say… No matter what they claim to be… No matter where they come from… No matter how they try to convince you… NEVER NEVER accept bank draft or check payment from anybody or any company or organization. Never allow such a thing to be used to pay money into your account.   2.         If no-one can do business with you unless they use a check or a bank draft, please forget about that business, no matter how “safe,” attractive or lucrative it may be.   3.         If they cannot pay by cash or electronic money transfer, then they should forget about doing business with you. Or they can use the draft to pay one of their own people, and then the person can pay you with cash or electronic transfer.   4.         Prevention is better than cure. It’s better to be safe than to be sorry. It’s better not to make money or not to do business, than to do what you will regret for the rest of your life.   5.         If you must accept a bank draft or a check, please disregard any alerts that come to you in any form. Wait for at least, 72 business hours, and then, contact your account officer to confirm if the money from that check has been cleared and added to your available balance. You must ensure that you are able to use that money before you deliver anything to those who used the checks/drafts to pay.   Beware of anyone making it seem to be in a hurry to do business with you. If they’re really in a hurry, then they must use another means other than a bank draft or check to pay you. Never release anything or send anything until you’re able to confirm that you’re completely safe.   Please save people from penury and financial ruin. Save them from pains and losses. Share this information on websites, social media, WhatsApp, Skype, Telegram and Facebook groups.   Forward it to your exchangers and their customers and all those who deal in goods and services in return for payment. You don’t know whether the next person you’ll save is your loved one. Save someone today with this information.   Thanks for reading….
    • Hi everyone, The latest Commitments of Traders review is out. Platinum COT Change (52W) / C - 18%, LS – 20% / FTG Score / D -7.4, W -19.4, M -16.1 / The larger than average change in Large Specs and Commercials positions, together with the negative reading from FTG suggest we could see some weakness from platinum in the coming days… Bitcoin (CME) COT Extreme / LS – All Time COT extreme / FTG Score / D 25.0, W 60.3, M 24.5 / We do not have such a history of cot data to be certain that we have cot signal that we can act upon, nevertheless it is interesting to see Large specs continuing to increase their net short positions, seeing Commercials net short and only Small specs taking the long side of the market. The all time extreme signal in LS would be generally considered a bullish signal, small spec net long a bearish FTG scores, especially the weekly show significant support for further rally in the market. Canadian Dollar COT Extreme / C - 72, LS – 68 report COT extreme / FTG Score / D 37.5, W -26.2, M -25.7 / In the past few weeks we have witnessed traders changing their positions towards a more bearish situation. The example from May 2017 to October the same year suggests that we could see this trend continuing for some time before the market dips back down. Daily FTG scores seem to back this, although the weekly and monthly already expect changes happening to the CAD. All the best,  Dunstan COT Charts FOREX Trading Futures Trading
    • Bitcoin Price Prediction: Long-term (BTC) Value Forecast – July 20   BTC/USD Long-term Trend: Ranging Resistance  $10,500, $11,000, $11,500 Support levels: $10,000, $9,500, $9,000   The BTC/USD pair had been trading in the bearish trend zone after facing resistance at the $13,000 overhead resistance level. On July 10, the BTC price reached a high of $13,000 but was resisted. The bears broke the 12-day EMA and the 26-day EMA as the price fell to the bearish trend zone. In the previous resistances, the price fell within the bullish trend zone. On the upside, if the bulls break above the EMAs, the crypto’s price will rise to retest the $13,000 resistance level.   On the other hand, if the bulls fail to break above the EMAs.  the crypto's price  will commence a range bound move below the EMAs,Meanwhile, the MACD line, and the signal line are above the zero line which indicates a buy signal.     The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research   Source:  https://bitcoinexchangeguide.com
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