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Forex Trading

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03-31 08:14 - 'The Best Forex Brokers for 2020 / Forex, or FX, trading is a more advanced type of investment that is best suited for experienced traders. If you’re well versed in day trading or options trading, forex may be a challenge...' by /u/michaelegginton removed from /r/Bitcoin within 0-9min

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The Best Forex Brokers for 2020
Forex, or FX, trading is a more advanced type of investment that is best suited for experienced traders. If you’re well versed in day trading or options trading, forex may be a challenge worth accepting. Forex trading can be another way of diversifying your portfolio,
Due to the Dodd-Frank act, forex brokers operating in the U.S. must be certified with both the National Futures Association (NFA) and the U.S. Commodity Futures Trading Commission (CFTC). These regulations restrict the amount of leverage available to traders. All U.S. brokers can offer a maximum leverage of 50:1 for most currency pairs, with some more risky currencies having a maximum of 20:1. Because of this, many forex brokers no longer offer accounts to U.S.-based traders. This review only considers brokers that allow U.S. accounts. If you’re interested in exploring foreign options, our international forex brokers site may be of help. [link]1
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Author: michaelegginton
1: *ww.*s*rof*acel*rat*d.com/
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What is Forex The Foreign Exchange market, also called FOREX or FX, is the global market for currency trading. With a daily volume of more than $5.3 trillion, it is the biggest and most exciting financial market in the world.

What is Forex The Foreign Exchange market, also called FOREX or FX, is the global market for currency trading. With a daily volume of more than $5.3 trillion, it is the biggest and most exciting financial market in the world. submitted by investuniques to u/investuniques [link] [comments]

What is Forex and how it works. The Foreign Exchange market, also called FOREX or FX, is the global market for currency trading. With a daily volume of more than $5.3 trillion, it is the biggest and most exciting financial market in the world.

What is Forex and how it works. The Foreign Exchange market, also called FOREX or FX, is the global market for currency trading. With a daily volume of more than $5.3 trillion, it is the biggest and most exciting financial market in the world. submitted by investuniques to u/investuniques [link] [comments]

Binary options or forex

Binary options or forex

https://preview.redd.it/vglgo138wwr41.jpg?width=1280&format=pjpg&auto=webp&s=eb102cda596b862bbbd7860d8b20de2f61bd6689
If you're new the planet by trading, you'll be feeling bamboozled by all the terminology and therefore the options hospitable you. There are some ways to trade, but two favorite methods are Forex and binary options. Once you look more closely at what's involved in these sorts of investing it is not as complicated because it might sound.
Forex is predicated on the movement of currencies and is currently the most important trading market within the world. It's commonly referred to as Forex or FX and stands for exchange. Quite you've got to trade on the one currency strengthening correctly while another weakens.
Another popular method is binary trading. Binary options differ significantly from Forex therein, you'll invest in more assets, including things like commodities, stocks and currency. Options are a newer entry and have only become popular within a previous couple of years.
submitted by BacklinksSeo73 to u/BacklinksSeo73 [link] [comments]

Forex Resolut Review - Overhyped Fx Indicator Or Profitable?

submitted by hazeldrew87 to altronix [link] [comments]

Forex Currency Trading Company Facilitates Trades

Another way on how to master the electronic Forex Millennium Review currency trading is by taking formal training, meaning you have to sit in a classroom with other students like yourself who have the same aspiration of making big in the currency business. Generally, the lessons involved in the electronic currency trading classes are really designed to help not only the newbie traders but also the experts who want to sharpen their knowledge when it comes to trading.

Considered as the largest trading market on earth, currency trading is pegged to be trading over USD 2 trillion everyday. This figure greatly dwarfs the performance of the New York Stock Exchange, which gathers an estimated USD 50 billion each day. This comparison alone while help you imagine just how big a business currency trading is. Before anything else, you might be prompted to ask, "What is currency trading?"

Also known as Foreign Exchange, Forex, or FX, currency trading attracts a lot of investors in that it is a very liquid market to invest in. The potential for profit is huge but the risks too, are very high. Unlike the stock exchange, forex accumulates a huge volume of traders. The margins may be low, but the significantly big number of traders makes up for it. In effect, when you profit, and you invested a significant amount, you'd cash in on a very high profit. What is currency trading to some investors who can afford to lose is such a big risk to those who aren't too fluent about the business yet.

A nation's currency has a value in relation to another currency. As one buys and sells currency, one finds out that there are pairs of currencies that get traded 85% of total volume: US Dollar (USD) and Japanese Yen (JPY), Euro (EUR) and USD, USD and Swiss Franc (CHF), USD and Canadian Dollar (CAD), Australian Dollar (AUD) and USD, and British Pound (GBP) and USD.
https://supplementaudit.com/forex-millennium-review/
submitted by monamerlin to u/monamerlin [link] [comments]

FX Farms Review – (2020) Legit Forex MLM or Massive Scam?

submitted by milldrive to u/milldrive [link] [comments]

Forex Algorithmic Trading Strategies: My Experience | Toptal

fintech #trading #algotrading #quantitative #quant #fx #spot #forex #hft

Forex Algorithmic Trading Strategies: My ExperienceAs you may know, the Foreign Exchange (Forex, or FX) market is used for trading between currency pairs. But you might not be aware that it’s the most liquid market in the world.A few years ago, driven by my curiosity, I took my first steps into the world of Forex algorithmic trading by creating a demo account and playing out simulations (with fake money) on the Meta Trader 4 trading platform.After a week of ‘trading’, I’d almost doubled my money. Spurred on by my own successful algorithmic trading, I dug deeper and eventually signed up for a number of FX forums. Soon, I was spending hours reading about algorithmic trading systems (rule sets that determine whether you should buy or sell), custom indicators, market moods, and more.My First ClientAround this time, coincidentally, I heard that someone was trying to find a software developer to automate a simple trading system. This was back in my college days when I was learning about conc..... Continue reading at: https://www.toptal.com/data-science/algorithmic-trading-a-practical-tale-for-engineers
submitted by silahian to quant_hft [link] [comments]

Elite Fin FX Review – Legit Forex MLM or Massive Scam? - DollarCop

Elite Fin FX Review – Legit Forex MLM or Massive Scam? - DollarCop submitted by dollarcop to u/dollarcop [link] [comments]

Elite Fin FX Review - Legit Forex MLM or Massive Scam?

Elite Fin FX Review - Legit Forex MLM or Massive Scam? submitted by milldrive to u/milldrive [link] [comments]

In HFT, are strategies (e.g. optimal execution, market making) purely mathematical or do they mainly rely on the technology (e.g. speed, collocation)? #fintech #trading #algotrading #quantitative #quant #quants #forex #fx #banks #hedgefunds #hft

In HFT, are strategies (e.g. optimal execution, market making) purely mathematical or do they mainly rely on the technology (e.g. speed, collocation)? #fintech #trading #algotrading #quantitative #quant #quants #forex #fx #banks #hedgefunds #hft submitted by silahian to quant_hft [link] [comments]

2.5 years and 145 backtested trades later

I have a habit of backtesting every strategy I find as long as it makes sense. I find it fun, and even if the strategy ends up being underperforming, it gives me a good excuse to gain valuable chart experience that would normally take years to gather. After I backtest something, I compare it to my current methodology, and usually conclude that mine is better either because it has a better performance or the new method requires too much time to manage (Spoiler: until now, I like this better)
During the last two days, I have worked on backtesting ParallaxFx strategy, as it seemed promising and it seemed to fit my personality (a lazy fuck who will happily halve his yearly return if it means he can spend 10% less time in front of the screens). My backtesting is preliminary, and I didn't delve very deep in the data gathering. I usually track all sort of stuff, but for this first pass, I sticked to the main indicators of performance over a restricted sample size of markets.
Before I share my results with you, I always feel the need to make a preface that I know most people will ignore.
Strategy
I am not going to go into the strategy in this thread. If you haven't read the series of threads by the guy who shared it, go here.
As suggested by my mentioned personality type, I went with the passive management options of ParallaxFx's strategy. After a valid setup forms, I place two orders of half my risk. I add or remove 1 pip from each level to account for spread.
Sample
I tested this strategy over the seven major currency pairs: AUDUSD, USDCAD, NZDUSD, GBPUSD, USDJPY, EURUSD, USDCHF. The time period started on January 1th 2018 and ended on July 1th 2020, so a 2.5 years backtest. I tested over the D1 timeframe, and I plan on testing other timeframes.
My "protocol" for backtesting is that, if I like what I see during this phase, I will move to the second phase where I'll backtest over 5 years and 28 currency pairs.
Units of measure
I used R multiples to track my performance. If you don't know what they are, I'm too sleepy to explain right now. This article explains what they are. The gist is that the results you'll see do not take into consideration compounding and they normalize volatility (something pips don't do, and why pips are in my opinion a terrible unit of measure for performance) as well as percentage risk (you can attach variable risk profiles on your R values to optimize position sizing in order to maximize returns and minimize drawdowns, but I won't get into that).
Results
I am not going to link the spreadsheet directly, because it is in my GDrive folder and that would allow you to see my personal information. I will attach screenshots of both the results and the list of trades. In the latter, I have included the day of entry for each trade, so if you're up to the task, you can cross-reference all the trades I have placed to make sure I am not making things up.
Overall results: R Curve and Segmented performance.
List of trades: 1, 2, 3, 4, 5, 6, 7. Something to note: I treated every half position as an individual trade for the sake of simplicity. It should not mess with the results, but it simply means you will see huge streaks of wins and losses. This does not matter because I'm half risk in each of them, so a winstreak of 6 trades is just a winstreak of 3 trades.
For reference:
Thoughts
Nice. I'll keep testing. As of now it is vastly better than my current strategy.
submitted by Vanguer to Forex [link] [comments]

Forex Trading in Kenya.

Someone posted on here a few days ago asking about forex and forex trading in Kenya, I have gone through the responses and clearly, most people don’t have an idea. It is 3am in the morning and am in a good mood so let me make this post. This will be a comprehensive and lengthy post so grab a pen and paper and sit down. We’ll be here a while.
FIRST OF ALL, who am I..?
I am a forex trader, in Nairobi, Kenya..i have been actively involved in forex since I found out about it in Feb 2016 when I somehow ended up in a wealth creation seminar (lol) in pride inn Westlands, the one close to Mpaka Rd. Luckily for me, it was not one of those AIM global meetings or I’d be on Facebook selling God knows what those guys sell. I did not take it seriously till August of the same year and I have been active ever since.
I don’t teach, mentor or sell a course or signals, I trade my own money. I am also posting from a throwaway account because I don’t want KRA on my ass.
What the fuck is forex and forex trading.
In simple plain English, forex is like the stock market but for currencies. Stock Market = Shares, forex = currencies. If you want more in-depth explanation, google is your friend.
These currencies are pegged on specific countries, united states- dollar, UK- pound, euro zone- euro, Switzerland- Swiss franc, Kenya- Kenya shilling.. you get the point. Now, there are specific events and happenings between these economies that affect the movement and values of the currencies, driving their value (purchasing power up and down). Forex trading exploits these movements to make money. When the value is going up, we buy and vice versa (down –sell)
Is forex trading illegal in Kenya? Is it a scam?
Illegal, no. scam, no. All the banks in the world do it (KCB made about 4 billion from trading forex in 2019)
Have there been scams involving forex in Kenya?
Yes. Here is one that happened recently. This one is the most infamous one yet. Best believe that this is not the end of these type of scams because the stupidity, greed and gullibility of human beings is unfathomable.
However, by the end of this post, I hope you won’t fall for such silliness.
What next how do I make it work..?
Am glad you asked. Generally, there are two ways to go about it. One, you teach yourself. This is the equivalent of stealing our dad’s car and hoping that the pedal you hit is the brake and not the accelerator. It is the route I took, it is the most rewarding and a huge ego boost when you finally make it on your own. Typically, this involves scouring the internet for hours upon hours going down rabbit holes, thinking you have made it telling all your friends how you will be a millionaire then losing all your money. Some people do not have the stomach for that.
The second route is more practical, structured and smarter.
First Learn the basics. There is a free online forex course at www.babypips.com/learn/forex this is merely an introductory course. Basically it is learning the parts of a car before they let you inside the car.
Second, start building your strategy. By the time you are done with the babypips, you will have a feel of what the forex market is, what interests you, etc. Tip..Babypips has a lot of garbage. It is good for introductory purposes but not good for much else, pick whatever stick to you or jumps at you the first time. Nonsense like indicators should be ignored.
The next step is now the most important. Developing the skill and building your strategy. As a beginner, you want to exhaust your naivety before jumping into the more advanced stuff. Eg can you identify a trend, what is a pair, what is position sizing, what is metatrader 4 and how to operate it, what news is good for a currency, when can I trade, what are the different trading sessions, what is technical analysis, what is market sentiment, what are bullish conditions what is emotion management, how does my psychology affect my trading (more on this later) an I a swing, scalper or day trader etc
Mentors and forex courses.. you have probably seen people advertising how they can teach and mentor you on how to trade forex and charging so much money for it. Somehow it seems that these people are focused on the teaching than the trading. Weird, right..? Truth is trading is hard, teaching not quite. A common saying in the industry is “Those who can’t trade, teach” you want to avoid all these gurus on Facebook and Instagram, some are legit but most are not. Sifting the wheat from the chaff is hard but I did that for you. The info is available online on YouTube, telegram channels etc. am not saying not to spend money on a course, if you find a mentor whose style resonates with you and the course is reasonably priced, please, go ahead and buy..it will cut your learning curve in half. People are different. What worked for me might not work for you.
Here are some nice YouTube channels to watch. These guys are legit..
  1. Sam sieden
  2. Cuebanks
  3. TheCoinFx
  4. The trading channel
  5. Astro
  6. Forex family
  7. Wicksdontlie
Advanced stuff
  1. ICT
After a short period of time, you will be able to sniff out bs teachers with relative ease. You will also discover some of your own and expand the list. Two tips, start with the oldest videos first and whichever of these resonates with you, stick with till the wheels fall off.
How long will it take until things start making sense
Give yourself time to grow and learn. This is all new to you and you are allowed to make mistakes, to fail and discover yourself. Realistically, depending on the effort you put in, you will not start seeing results until after 6 months. Could take longeshorter so there is no guarantee.
Social media, Mentality, Psychology and Books
Online, forex trading might not have the best reputation online because it takes hard work and scammers and gurus give it a bad name. However, try to not get sucked into the Instagram trader lifestyle as it is nowhere close to what the reality is. You will not make millions tomorrow or the day after, you might never even make it in this market. But that is the reality of life. Nothing is promised, nothing is guaranteed.
Your mentality, beliefs and ego will be challenged in this market. You will learn things that will make you blood boil, you will ask yourself daily, how is this possible, why don’t they teach this in school..bla bla bla..it will be hard but growth is painful, if it wasn’t we’d all be billionaires. Take a break, take a walk, drink a glass of whatever you like or roll one..detox. Chill with your girl (or man) Gradually you will develop mental toughness that will set you up for life. Personally, I sorta ditched religion and picked up stoicism. Whatever works for you.
Psychology, this is unfortunately one of the most neglected aspects of your personal development in this journey. Do you believe in yourself? Can you stand by your convictions when everyone is against you? Can you get up every day uncertain of the future? There will be moments where you will question yourself, am I even doing the right thing? the right way? It is normal and essential for your growth. People who played competitive sports have a natural advantage here. Remember the game is first won in your head then on the pitch.
Books: ironically, books that helped me the most were the mindset books, Think and grow rich, trading for a living, 4 hour work week, the monk who sold his Ferrari..just google mindset and psychology books, most trading books are garbage. Watch and listen to people who have made it in the investing business. Ray Dalio, warren, Bill Ackman and Carl Icahn.
This is turning out to be lengthier than I anticipated so I’ll try to be brief for the remaining parts.
Brokers
You will need to open up an account with a broker. Get a broker who is regulated. Australian ones (IC Market and Pepperstone) are both legit, reliable and regulated. Do your research. I’d avoid local ones because I’ve heard stories of wide spreads and liquidity problems. International brokers have never failed me. There are plenty brokers, there is no one size fits all recommendation. If it ain’t broke..don’t fix it.
Money transfer.
All brokers accept wire transfers, you might need to call your bank to authorize that, avoid Equity bank. Stanchart and Stanbic are alright. Large withdrawals $10k+ you will have to call them prior. Get Skrill and Neteller if you don’t like banks like me, set up a Bitcoin wallet for faster withdrawals, (Payoneer and Paypal are accepted by some brokers, just check with them.)
How much money can I make..?
I hate this question because people have perceived ceilings of income in their minds, eg 1 million ksh is too much to make per month or 10,000ksh is too little. Instead, work backwards. What % return did I make this month/ on this trade. Safaricom made 19.5% last year, if you make 20% you have outperformed them. If you reach of consistency where you can make x% per month on whatever money you have, then there are no limits to how much you can make.
How much money do I need to start with..?
Zero. You have all the resources above, go forth. There are brokers who provide free bonuses and withdraw-able profits. However, to make a fulltime income you will need some serious cash. Generally, 50,000 kes. You can start lower or higher but if you need say 20k to live comfortably and that is a 10% return per month, then you can do the math on how big your account should be. Of course things like compound interest come into play but that is dependent on your skill level. I have seen people do spectacular things with very little funds.
Taxes..?
Talk to a lawyer or an accountant. I am neither.
Family? Friends?
Unfortunately, people will not understand why you spend hundreds of hours watching strangers on the internet so it is best to keep it from them. Eventually you will make it work and they will come to your corner talking about how they always knew you’d make it.
The journey will be lonely, make some trading buddies along the way. You’d be surprised at how easy it is when people are united by their circumstances (and stupidity) I have guys who are my bros from South Africa and Lebanon who I have never met but we came up together and are now homies. Join forums, ask questions and grow. That is the only way to learn. Ideally, a group of 5-10 friends committed to learning and growth is the best model. Pushing each other to grow and discovering together.
Forex is real and you can do amazing things with it. It is not a get rich quick scheme. If you want a quick guaranteed income, get a job.
And now it is 5am, fuck.
This is oversimplified and leaves out many many aspects.
Happy to answer any questions.
submitted by ChaliFlaniwaNairobi to Kenya [link] [comments]

Why buy Canadian ETFs if they are consistently outperformed by US ETFs?

I'm curious about whether Canadian ETFs are worthwhile, as they have been a constant drag on my returns for the past 5 years. I consider the S&P 500 to be the benchmark for any stock returns. It feels like Canadian ETFs will crash every time the S&P 500 does, but we will never rise to new all time highs the same way. The S&P TSX composite has roughly stagnated in the last 15 years, but the S&P 500 has shown substantial gains in that time (and in all of its history).
It is true that past results should not be used to justify future returns, and that Canadian ETFs do have some advantages. Off the top of my head:
  1. No need to pay a forex fee or do Norbert's Gambit
  2. Generally higher dividend payout ratios (helps with total returns)
  3. No 15% dividend withholding tax that US ETFs have
Would it be worthwhile to drop Canadian stocks altogether to chase higher potential returns? Some thoughts:
  1. Lesser geographical diversification
  2. Increased currency risk due to USD:CAD FX
  3. I prefer the assets of the S&P 500 over the S&P TSX. VCN has heavy exposure to banks, oil & gas, and Shopify, which wouldn't be my ideal investment focus at this time.
submitted by 4333mhz to PersonalFinanceCanada [link] [comments]

H1 Backtest of ParallaxFX's BBStoch system

Disclaimer: None of this is financial advice. I have no idea what I'm doing. Please do your own research or you will certainly lose money. I'm not a statistician, data scientist, well-seasoned trader, or anything else that would qualify me to make statements such as the below with any weight behind them. Take them for the incoherent ramblings that they are.
TL;DR at the bottom for those not interested in the details.
This is a bit of a novel, sorry about that. It was mostly for getting my own thoughts organized, but if even one person reads the whole thing I will feel incredibly accomplished.

Background

For those of you not familiar, please see the various threads on this trading system here. I can't take credit for this system, all glory goes to ParallaxFX!
I wanted to see how effective this system was at H1 for a couple of reasons: 1) My current broker is TD Ameritrade - their Forex minimum is a mini lot, and I don't feel comfortable enough yet with the risk to trade mini lots on the higher timeframes(i.e. wider pip swings) that ParallaxFX's system uses, so I wanted to see if I could scale it down. 2) I'm fairly impatient, so I don't like to wait days and days with my capital tied up just to see if a trade is going to win or lose.
This does mean it requires more active attention since you are checking for setups once an hour instead of once a day or every 4-6 hours, but the upside is that you trade more often this way so you end up winning or losing faster and moving onto the next trade. Spread does eat more of the trade this way, but I'll cover this in my data below - it ends up not being a problem.
I looked at data from 6/11 to 7/3 on all pairs with a reasonable spread(pairs listed at bottom above the TL;DR). So this represents about 3-4 weeks' worth of trading. I used mark(mid) price charts. Spreadsheet link is below for anyone that's interested.

System Details

I'm pretty much using ParallaxFX's system textbook, but since there are a few options in his writeups, I'll include all the discretionary points here:

And now for the fun. Results!

As you can see, a higher target ended up with higher profit despite a much lower winrate. This is partially just how things work out with profit targets in general, but there's an additional point to consider in our case: the spread. Since we are trading on a lower timeframe, there is less overall price movement and thus the spread takes up a much larger percentage of the trade than it would if you were trading H4, Daily or Weekly charts. You can see exactly how much it accounts for each trade in my spreadsheet if you're interested. TDA does not have the best spreads, so you could probably improve these results with another broker.
EDIT: I grabbed typical spreads from other brokers, and turns out while TDA is pretty competitive on majors, their minors/crosses are awful! IG beats them by 20-40% and Oanda beats them 30-60%! Using IG spreads for calculations increased profits considerably (another 5% on top) and Oanda spreads increased profits massively (another 15%!). Definitely going to be considering another broker than TDA for this strategy. Plus that'll allow me to trade micro-lots, so I can be more granular(and thus accurate) with my position sizing and compounding.

A Note on Spread

As you can see in the data, there were scenarios where the spread was 80% of the overall size of the trade(the size of the confirmation candle that you draw your fibonacci retracements over), which would obviously cut heavily into your profits.
Removing any trades where the spread is more than 50% of the trade width improved profits slightly without removing many trades, but this is almost certainly just coincidence on a small sample size. Going below 40% and even down to 30% starts to cut out a lot of trades for the less-common pairs, but doesn't actually change overall profits at all(~1% either way).
However, digging all the way down to 25% starts to really make some movement. Profit at the -161.8% TP level jumps up to 37.94% if you filter out anything with a spread that is more than 25% of the trade width! And this even keeps the sample size fairly large at 187 total trades.
You can get your profits all the way up to 48.43% at the -161.8% TP level if you filter all the way down to only trades where spread is less than 15% of the trade width, however your sample size gets much smaller at that point(108 trades) so I'm not sure I would trust that as being accurate in the long term.
Overall based on this data, I'm going to only take trades where the spread is less than 25% of the trade width. This may bias my trades more towards the majors, which would mean a lot more correlated trades as well(more on correlation below), but I think it is a reasonable precaution regardless.

Time of Day

Time of day had an interesting effect on trades. In a totally predictable fashion, a vast majority of setups occurred during the London and New York sessions: 5am-12pm Eastern. However, there was one outlier where there were many setups on the 11PM bar - and the winrate was about the same as the big hours in the London session. No idea why this hour in particular - anyone have any insight? That's smack in the middle of the Tokyo/Sydney overlap, not at the open or close of either.
On many of the hour slices I have a feeling I'm just dealing with small number statistics here since I didn't have a lot of data when breaking it down by individual hours. But here it is anyway - for all TP levels, these three things showed up(all in Eastern time):
I don't have any reason to think these timeframes would maintain this behavior over the long term. They're almost certainly meaningless. EDIT: When you de-dup highly correlated trades, the number of trades in these timeframes really drops, so from this data there is no reason to think these timeframes would be any different than any others in terms of winrate.
That being said, these time frames work out for me pretty well because I typically sleep 12am-7am Eastern time. So I automatically avoid the 5am-6am timeframe, and I'm awake for the majority of this system's setups.

Moving stops up to breakeven

This section goes against everything I know and have ever heard about trade management. Please someone find something wrong with my data. I'd love for someone to check my formulas, but I realize that's a pretty insane time commitment to ask of a bunch of strangers.
Anyways. What I found was that for these trades moving stops up...basically at all...actually reduced the overall profitability.
One of the data points I collected while charting was where the price retraced back to after hitting a certain milestone. i.e. once the price hit the -61.8% profit level, how far back did it retrace before hitting the -100% profit level(if at all)? And same goes for the -100% profit level - how far back did it retrace before hitting the -161.8% profit level(if at all)?
Well, some complex excel formulas later and here's what the results appear to be. Emphasis on appears because I honestly don't believe it. I must have done something wrong here, but I've gone over it a hundred times and I can't find anything out of place.
Now, you might think exactly what I did when looking at these numbers: oof, the spread killed us there right? Because even when you move your SL to 0%, you still end up paying the spread, so it's not truly "breakeven". And because we are trading on a lower timeframe, the spread can be pretty hefty right?
Well even when I manually modified the data so that the spread wasn't subtracted(i.e. "Breakeven" was truly +/- 0), things don't look a whole lot better, and still way worse than the passive trade management method of leaving your stops in place and letting it run. And that isn't even a realistic scenario because to adjust out the spread you'd have to move your stoploss inside the candle edge by at least the spread amount, meaning it would almost certainly be triggered more often than in the data I collected(which was purely based on the fib levels and mark price). Regardless, here are the numbers for that scenario:
From a literal standpoint, what I see behind this behavior is that 44 of the 69 breakeven trades(65%!) ended up being profitable to -100% after retracing deeply(but not to the original SL level), which greatly helped offset the purely losing trades better than the partial profit taken at -61.8%. And 36 went all the way back to -161.8% after a deep retracement without hitting the original SL. Anyone have any insight into this? Is this a problem with just not enough data? It seems like enough trades that a pattern should emerge, but again I'm no expert.
I also briefly looked at moving stops to other lower levels (78.6%, 61.8%, 50%, 38.2%, 23.6%), but that didn't improve things any. No hard data to share as I only took a quick look - and I still might have done something wrong overall.
The data is there to infer other strategies if anyone would like to dig in deep(more explanation on the spreadsheet below). I didn't do other combinations because the formulas got pretty complicated and I had already answered all the questions I was looking to answer.

2-Candle vs Confirmation Candle Stops

Another interesting point is that the original system has the SL level(for stop entries) just at the outer edge of the 2-candle pattern that makes up the system. Out of pure laziness, I set up my stops just based on the confirmation candle. And as it turns out, that is much a much better way to go about it.
Of the 60 purely losing trades, only 9 of them(15%) would go on to be winners with stops on the 2-candle formation. Certainly not enough to justify the extra loss and/or reduced profits you are exposing yourself to in every single other trade by setting a wider SL.
Oddly, in every single scenario where the wider stop did save the trade, it ended up going all the way to the -161.8% profit level. Still, not nearly worth it.

Correlated Trades

As I've said many times now, I'm really not qualified to be doing an analysis like this. This section in particular.
Looking at shared currency among the pairs traded, 74 of the trades are correlated. Quite a large group, but it makes sense considering the sort of moves we're looking for with this system.
This means you are opening yourself up to more risk if you were to trade on every signal since you are technically trading with the same underlying sentiment on each different pair. For example, GBP/USD and AUD/USD moving together almost certainly means it's due to USD moving both pairs, rather than GBP and AUD both moving the same size and direction coincidentally at the same time. So if you were to trade both signals, you would very likely win or lose both trades - meaning you are actually risking double what you'd normally risk(unless you halve both positions which can be a good option, and is discussed in ParallaxFX's posts and in various other places that go over pair correlation. I won't go into detail about those strategies here).
Interestingly though, 17 of those apparently correlated trades ended up with different wins/losses.
Also, looking only at trades that were correlated, winrate is 83%/70%/55% (for the three TP levels).
Does this give some indication that the same signal on multiple pairs means the signal is stronger? That there's some strong underlying sentiment driving it? Or is it just a matter of too small a sample size? The winrate isn't really much higher than the overall winrates, so that makes me doubt it is statistically significant.
One more funny tidbit: EUCAD netted the lowest overall winrate: 30% to even the -61.8% TP level on 10 trades. Seems like that is just a coincidence and not enough data, but dang that's a sucky losing streak.
EDIT: WOW I spent some time removing correlated trades manually and it changed the results quite a bit. Some thoughts on this below the results. These numbers also include the other "What I will trade" filters. I added a new worksheet to my data to show what I ended up picking.
To do this, I removed correlated trades - typically by choosing those whose spread had a lower % of the trade width since that's objective and something I can see ahead of time. Obviously I'd like to only keep the winning trades, but I won't know that during the trade. This did reduce the overall sample size down to a level that I wouldn't otherwise consider to be big enough, but since the results are generally consistent with the overall dataset, I'm not going to worry about it too much.
I may also use more discretionary methods(support/resistance, quality of indecision/confirmation candles, news/sentiment for the pairs involved, etc) to filter out correlated trades in the future. But as I've said before I'm going for a pretty mechanical system.
This brought the 3 TP levels and even the breakeven strategies much closer together in overall profit. It muted the profit from the high R:R strategies and boosted the profit from the low R:R strategies. This tells me pair correlation was skewing my data quite a bit, so I'm glad I dug in a little deeper. Fortunately my original conclusion to use the -161.8 TP level with static stops is still the winner by a good bit, so it doesn't end up changing my actions.
There were a few times where MANY (6-8) correlated pairs all came up at the same time, so it'd be a crapshoot to an extent. And the data showed this - often then won/lost together, but sometimes they did not. As an arbitrary rule, the more correlations, the more trades I did end up taking(and thus risking). For example if there were 3-5 correlations, I might take the 2 "best" trades given my criteria above. 5+ setups and I might take the best 3 trades, even if the pairs are somewhat correlated.
I have no true data to back this up, but to illustrate using one example: if AUD/JPY, AUD/USD, CAD/JPY, USD/CAD all set up at the same time (as they did, along with a few other pairs on 6/19/20 9:00 AM), can you really say that those are all the same underlying movement? There are correlations between the different correlations, and trying to filter for that seems rough. Although maybe this is a known thing, I'm still pretty green to Forex - someone please enlighten me if so! I might have to look into this more statistically, but it would be pretty complex to analyze quantitatively, so for now I'm going with my gut and just taking a few of the "best" trades out of the handful.
Overall, I'm really glad I went further on this. The boosting of the B/E strategies makes me trust my calculations on those more since they aren't so far from the passive management like they were with the raw data, and that really had me wondering what I did wrong.

What I will trade

Putting all this together, I am going to attempt to trade the following(demo for a bit to make sure I have the hang of it, then for keeps):
Looking at the data for these rules, test results are:
I'll be sure to let everyone know how it goes!

Other Technical Details

Raw Data

Here's the spreadsheet for anyone that'd like it. (EDIT: Updated some of the setups from the last few days that have fully played out now. I also noticed a few typos, but nothing major that would change the overall outcomes. Regardless, I am currently reviewing every trade to ensure they are accurate.UPDATE: Finally all done. Very few corrections, no change to results.)
I have some explanatory notes below to help everyone else understand the spiraled labyrinth of a mind that put the spreadsheet together.

Insanely detailed spreadsheet notes

For you real nerds out there. Here's an explanation of what each column means:

Pairs

  1. AUD/CAD
  2. AUD/CHF
  3. AUD/JPY
  4. AUD/NZD
  5. AUD/USD
  6. CAD/CHF
  7. CAD/JPY
  8. CHF/JPY
  9. EUAUD
  10. EUCAD
  11. EUCHF
  12. EUGBP
  13. EUJPY
  14. EUNZD
  15. EUUSD
  16. GBP/AUD
  17. GBP/CAD
  18. GBP/CHF
  19. GBP/JPY
  20. GBP/NZD
  21. GBP/USD
  22. NZD/CAD
  23. NZD/CHF
  24. NZD/JPY
  25. NZD/USD
  26. USD/CAD
  27. USD/CHF
  28. USD/JPY

TL;DR

Based on the reasonable rules I discovered in this backtest:
submitted by ForexBorex to Forex [link] [comments]

I'm a strategy lover and it's a real problem now

Hi everyone,
I have been learning about Forex for almost 2 years now.
But I have a real problem. I am a strategy lover. I hop from one strategy to another due to various reasons.
How it works: 1. I find a strategy 2. I fall in love with it 3. I learn about it, backtest it, demo trade it, etc. 4. I find something to nitpick 5. Leave the strategy and go back to point 1
In the past 2 years, I must have burned through over 20-30 strategies. I have gone through scalping, swing trading, full discretionary trading, full system based trading, half discretionary and half system based strategies, etc
I just can't seem to stick with a strategy after the honeymoon phase. Either I get tired of the strategy, or backtesting reveals it isnt profitable, or it too discretionary, or it is too system based, etc.
Once again, I left another strategy and am going back to point 1, finding a new strategy. I found a new strategy, which is the one posted by ParallaxFX. Already 2 people have backtested it and it was profitable. But even with this information, I know that I will go through the strategy, I will love it at first, I will test, then ultimately I wont stick with it and then leave it and then go back to point 1.
I like the fact it is mostly a system based strategy and lately I have tested a lot of strategies that are 50% system based and 50% discretionary. The only thing I have learned so far is that I would probably be more comfortable trading a system based strategy rather than a full discretionary one.
This is a big issue for me always and I dont know how to overcome it. It was fine in the beginning because I was a new trader and to go through strategies is just part of trading in the beginning. But now it's been almost 2 years and I have to admit now that I have a real problem that needs to be addressed. Otherwise at this rate, I will still be doing this in 5-10 years.
It seems like most people find a strategy and stick with it, but then struggle with risk management. But I'm stuck at the strategy part and I cant progress.
How do I overcome this? What steps can I take so this doesn't happen? Do I need a mentor at this point?
Any help is welcome!
submitted by forexguyz643 to Forex [link] [comments]

BEWARE OF SCAMMER @jsuffer OR @justinweber

****** EDIT ******* JUSTIN IS NOW OPERATING UNDER @jsleeping_ or @TraderJ AND HAS DELETED TELEGRAM CHANNEL FX SHARKS. PLEASE PLEASE PLEASE BE AWARE AND LOOK OUT FOR THIS MAN!!!!!!!
Please be aware of ‘self proclaimed professional’ forex trader by the name of Justin Weber or JSuffer. Based in Germany.
• He advertises account management in which he uses no RISK MANAGEMENT what so ever, essentially gambling on accounts resulting in substantial loses and blown accounts - taking no responsibility for ANY of his actions. •Once accounts have been blown, he has no intentions of replacing the money and completely ignores ANY attempts of contact that is made.
• He owes large amounts of income to previous and current employees that have worked for his signal/account management businesses. Leaving them without an income for 6 months+, making empty promises that money will be coming through to their bank accounts, never to be seen pushing the blame onto banks, government problems.
****** Previous telegram channels include BlueFX, Wealth By Forex and FX Sharks ****** PLEASE DO NOT TRUST THIS MAN, HE IS A SCAMMER!!!!!
I have multiple screenshots & interchanges of messages proving all this information is 100% TRUTH, of clients having their accounts blown, and multiple screenshots of employees BEGGING for their money after months on end.
Thankyou for your time.
submitted by madzs38 to Daytrading [link] [comments]

Weekly Wrap: This Week In Chainlink July 20 - July 26

Weekly Wrap: This Week In Chainlink July 20 - July 26. What a week! Check out this weekly wrap-up of all that has been accomplished in the Chainlink community.

Announcements and Integrations 🎉

SmartCon will feature the top minds and builders of smart contracts and celebrate our incredible community, thriving ecosystem & cutting-edge research. Experience a mix of keynotes, panel discussions, live demos, developer workshops, and networking with the community. We made registration complimentary so everyone can participate.

We’re thrilled to welcome DeutscheTelekom’s TSystems_MMS IT Services group to Chainlink. Tsystemscom’s world-class infrastructure team secures a large amount of enterprise value today & is now on mainnet helping secure Chainlink’s oracle network.

Top Korean banks: Hana Bank, Shinhan Bank, Nonghyup Bank, and Industrial Bank of Korea select Chainlink and CenterPrime to bring their forex data on-chain, transforming the capabilities of open banking services, fintech and DeFi.

Binance Smart Chain has integrated Chainlink as its oracle live on testnet! Using Chainlink gives devs access to off-chain data (e.g. Binance_DEX), enabling them to build DeFi dApps for derivatives, crypto payments, automated asset management and more.

Reflexer (@MetaCoinProject) has successfully integrated Chainlink's ETH/USD Price Reference Data as the basis for collateralization checks on their first Generalized Ethereum Bond (reflex bond) RAI—a low volatility, trust minimized collateral for DeFi.

Blockchain-based e-document solution @FirmaChain is integrating Chainlink to create more seamless digital contracts. For example, car rental contracts using Chainlink to validate driver licenses within the signature process for better customer experience.

Blockchain platform Elastos blockchain is launching a Chainlink-powered ELA/USD Price Reference Data feed to use for collateralization checks on its upcoming cross-chain stablecoin. This is one of many advanced dApps possible on Elastos using real-world data.

TinyboxesETH is using ChainlinkVRF to create Tiny Boxes, randomized & animated generative art pieces that, from creation to curation, exist fully on-chain for collectors to enjoy. They will also use Chainlink price oracles for minting pieces w/ crypto.

Chainlink's ENJ/ETH Price Reference Feed is live on mainnet! Gaming developers can use this reliable price feed when minting or exchanging Enjin-based digital assets.

Chainlink's REN/ETH Price Reference Feed is live on mainnet. DeFi developers utilizing REN in their dApp now have access to a secure and reliable price oracle. This is just one of many Chainlink oracles available today.

Featured Videos & Educational Pieces 🎥

Join the MCDEX team and Chainlink for a video Q&A is with Gareth the DaoChemist (https://twitter.com/daochemist), Head of Business Development of MCDEX. The discussion will be centered on MCDEX integration with Chainlink and a deep-dive into MCDEX's launch of liquidity mining.

Join the Vite Labs team and Chainlink for a video Q&A is with Richard Yan, the Co-founder, and COO of Vite Labs. The discussion will be centered on 1) Why ViteX has better performance than other DEXs, 2) ViteX's approach to trans and liquidity mining where the coins earned entitle users to proceeds from the exchange, 3) Future plans for ViteX.

Watch this community workshop featuring an AMA with LinkPool’s head of business development, Ian Read. In the video, they discuss the future roadmap for LinkPool, how to become a node operator, and best practices for running a node.

Ecosystem & Community Celebrations 👏

Upcoming Events 📅

Are you interested in hosting your own meetup? Apply to become a Chainlink Community Advocate today: https://events.chain.link/advocate

SmartContract is hiring to build Chainlink’s network: Check out these open roles 👩‍💼

View all open roles at https://careers.smartcontract.com
submitted by linkedkeenan to Chainlink [link] [comments]

Funding IB Pro account

I have been depositing USD into my IB Pro account using ANZ.
But they also have an option to deposit NZD and IB will charge a 1% fee (I'm guessing it's the fx conversion fee).But the details are confusing as they provided swift/bic number which is used for International wire transfers.
They route the funds through Citibank.Does this mean we can just use bank transfer instead of international wire transfer which costs $9 and less than ideal forex rates.
Can anyone make sense of these instructions for NZ bank to bank transfer?
Deposit Instructions
Anyone here used xe or similar service to fund their IB account?
submitted by wins0me to PersonalFinanceNZ [link] [comments]

Trading YYY/ZZZ pair with XXX currency (related to question in FAQ)

I am learning alot about forex but I have not found an explicit answer to this question. I am a bit confused about trading a pair of currencies when I do not own either currency. For example, my account is funded with CAD, so if I trade USD/EUR, am I not risking cancelling out potential gains or multiplying losses based on the fluctuation of CAD/USD at the same time? The answer to this question in the FAQ makes it sounds like it is a non issue:
From the FAQ:
" I AM CONFUSED ABOUT THIS - HOW CAN I GET CURRENCY XXX IF I'M TRADING YYY/ZZZ??
This confuses many new traders. When you create your FX account, you will be nominating what the base currency is, this is usually the currency where you live. Live in the United States? USD. Live in Canada? CAD. Live in Tokyo? JPY. Live in The EU? EUR and so on.... That is the currency that all trades will be paid out in.
The pairs that you trade have no bearing on this outcome. It may help to think of it in this way: "I am going long / going short on the asset known as USD/JPY and will be paid out in my base currency." Don't look at the pair you are trading as multiple exchanges, look at it as a single vehicle, this may help you."
From a risk mitigation stand point, would it be best practice to only trade pairs based on CAD/XXX or would it make more sense to convert my CAD funds to USD for the long term and gamble that the exchange rate remains roughly constant?
If there are any resources you know of that address this question, please let me know!
Thanks!
submitted by Xyphota to Forex [link] [comments]

ICT Student Says He's "Ridiculous" - Interview with ICT Student

Hey Forex. First time poster so take it easy on me lol. I was reading a thread here earlier about risk to reward ratios, and it seemed as though the general consensus in the comment section is that the market is random. I don't want to speak in absolutes here, but everything I've learned in the past year seems to suggest otherwise. That the market is not random, and the big players are targetting liquidity on a macro and micro level. Trading with this perception of the market has taken my trading to a whole new level. I was listening to this podcast this morning and I found it funny how AntFX's journey was sort of similar to mine in the sense that he had found ICT's work after trading from a retail perspective with trendlines and indicators and such. He was stuck at a crossroads where retail trading education wasn't helping him profit (or break even) and was having serious doubts about trading. I know we can all relate to that mindset to not knowing whether or not trading is going to work out in our favour. I figured I'd post this to offer anybody who hasn't heard of "smart money concepts" or "institutional trading" a fresh perspective on trading as well as some motivation to keep pushing through. Enjoy your weekend everybody.
submitted by grayjdb to Forex [link] [comments]

Have a MASSIVE list of assets, looking for assets - Last Edited 07/19/20

Hey guys, I'm looking for some assets, was wondering if anyone had them or was willing to trade for something.... I got a good list of things and you can choose something to trade for so we can both benefit from it :)... I'm always flexible and willing to negotiate a deal.

I have THOUSANDS more items that are not listed, if you're looking for something that is not on my lists, I'm probably sorting it out, just ask me because I probably have it either way. The lists gets updated and new items added DAILY.

(Last Edited 07/19/20)


Here are the lists of things I can offer: 

Specifically what I'm looking for: 
Miscellaneous
Courses
Books:
submitted by ElectronicDimension7 to pirating [link] [comments]

Forex Trading for Beginners Things about How good Forex trading is for beginners and how to start What Does Forex Trading Online - Currencies, Futures, FX Markets Mean? All About Forex: Strategies - Best Forex Trading Strategies For High No Nonsense Forex - YouTube

Make Money Trading Forex With Our Capital. Prove you can profit and manage risk, and get funded with up to $500,000 in real forex buying power with 100:1 leverage. Forex Factory is for professional foreign-exchange traders. Its mission is to keep traders connected to the markets, and to each other, in ways that positively influence their trading results. DailyFX is the leading portal for financial market news covering forex, commodities, and indices. Discover our charts, forecasts, analysis and more. FOREX.com is a registered FCM and RFED with the CFTC and member of the National Futures Association (NFA # 0339826). Forex trading involves significant risk of loss and is not suitable for all investors. Full Disclosure. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Forex is simply a financial market that you can profit from by placing trades using your phone or computer. Its a lot like the stock market, where you can buy a stock at a low price, sell it at a high price, and make a profit. In the stock market, you trade stocks, but in forex, you trade currencies.

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Forex Trading for Beginners

I understand that people get excited about trading Forex, making money, living their dreams, etc... But the reality is that, in my opinion, it takes really hard work to become a successful trader. The forex market, or more frequently called forex or FX, is well-known for being among the most interesting markets that exists to this day and age. The forex market is the "location" where ... The Academy of Forex was created so we can learn as a group what Forex indicators work best and which don’t. We will be testing what Forex indicators are the best and building the best Forex ... Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. Try These Out: https://bit.ly/39rEwVW - What Does Forex Trading Online - Currencies, Futures, FX Markets Mean? Forex is a portmanteau of foreign currency and exchange. Foreign exchange is the ...