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Two Blokes Trading | Forex Trading Community
What is Two Blokes Trading? Two Blokes Trading is a fun and informative podcast and website for new and experienced home financial traders. It follows us, Tom and Owen, as we learn to trade profitably and consistently. We interview leading traders and trading industry insiders every week on the Podcast to give our listeners the best chance of becoming profitable traders.
For Canadian Clients of VantageFX (or Canadian Forex Traders in General)
As you likely already know, VantageFX will no longer service Canadians residents as of Nov 30th. This is unfortunate, since VantageFX has done an excellent job serving Canadian clients with higher leverage account options from a well regulated and trusted broker. Through contacts in the industry, we've been made aware of a new retail account offering at Pacific Union. Pacific Union has a good history of servicing institutional accounts and has only just started taking on retail clients, but they are positioned to service the Canadian clients in the space that VantageFX has left behind. Further, we were made aware of Pacific Union first by contacts at VantageFX, and then this recommendation was backed up by a trusted source who works closely with both companies. Again, to be very clear, this post isn't to give undue attention to some random broker.. we are providing this info because Pacific Union is a proper alternative for Canadian based traders that will no longer be serviced by VantageFX. On that note, I've updated the wiki to include Pacific Union Prime - https://puprime.com: Subreddit's Canadian Brokers Wiki Page The only major difference I have noticed so far is lacking MT5, but the word is that Pacific Union will be reviewing MT5 and other enhancements to their offing next quarter after they get past the launch of their retail offering. Key highlights from my perspective:
Up to 500:1 leverage available for Canadians, and while that much leverage may not be needed, even just 100:1 is decent compared to ~33:1 leverage set by IIROC with onshore brokers.
Client funds are segregated at an Australian bank, so you're getting some overlap of Aussie banking / regulatory rules and that's a huge plus when it comes to safety of funds and the finance side of things
No fee on credit card deposits / withdrawals, and no fee on Visa Debit and MasterCard Debit deposit / withdrawals. Transactions are completed within 30 minutes.
No fee on Interac e-Transfer deposits.
Remember, going offshore means you lose CIPF protection on funds, so a well vetted and properly regulated broker is a must! UPDATE #1: Oct 6th: Took this post off sticky and redacted some info as the connection between VantageFX and Pacific Union Prime was not "official". Pacific Union is still a great alternative / replacement for Canadian clients seeing higher leverage accounts and who are no longer serviced after VantageFX left Canada. UPDATE #2, Oct 8th: Adjusted this thread again to best reflect where Pacific Union Prime fits with VantageFX and former Canadian VantageFX cleints.
I’ve been looking for a broker that has an API for index futures and ideally also futures options. I’m looking to use the API to build a customized view of my risk based on balances, positions, and market conditions. Searching the algotrading sub I found many API-related posts, but then when I actually read them and their comments, I found they’re often lacking in real substance. It turns out many brokers or data services that have APIs don’t actually support index futures and options via the API, and instead they focus on equities, forex, or cypto. So here’s the list of what I’ve found so far. This isn’t a review of these brokers or APIs and note that I have a specific application in mind (index futures and futures options). Perhaps you’re looking for an API for equities, or you just want data and not a broker, in which case there may be a few options. Also, I’m based in the US so I didn’t really look for brokers or platforms outside the US. If you have experience with these APIs, please chime in with your thoughts. Also, I may have missed some brokers or platforms. If I did or if you see anything that needs correction please let me know.
Broker with a variety of platforms including CQG, Rithmic, TT, some with APIs
Wow, this list grew longer than I originally thought it would be. If you spot a mistake, please let me know and I’ll correct it. Edit: - added Lightspeed API - updated Dashprime to indicate some of the APIs available - added Medved Trader to table - added marketstack to table
There are a lot of opportunities online for anyone that wants to make a little extra money. From a part-time hustle to an all-out digital career, there are loads of ways that you can make money with an electronic device, and a connection to the internet.
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Sell Unwanted Goods - You can sell your unwanted stuff to people who want it and make your side business a real money maker. There’s plenty of options to use for sales such as Gumtree or Amazon. Don’t forget to do some research and see what assets have recently been sold so you have a target price. If you a business, you can sell other people’s goods as well. Many people don’t have the time or patience to sell goods online, and you can do it for them. If you charge a reasonable percentage of the sales, you can make a solid business out of selling used goods online.
Build a Personal blog/website - Not only can you write for companies to gain income but you’re also able to run your own blog to raise money as well. Set your expectations at a reasonable level because this job requires consistent practice and lots of patience. Bloggers make a profit, often through press coverage, advertising products, and writing sponsored guest posts. You will need to run the blog for a while before you can expect to see any profits, but it is very simple to get started. Check out some of the other ideas on this list for ways to leverage a blog for greater income, like selling drop shipped items.
Legitimate Remote Jobs can Pay Real Money - Many companies are heading to a work-from-home style of business since this type of model helps save money, and eliminates the risk of illnesses. People are completely flexible while working for a company and selecting where they decide to spend their time.CrowdSource, for example, hires remote writers, editors, and other jobs that can be done easily from anywhere. Companies like Fast Chart offer work-from-home options for medical transcriptionists. You can also try seeking opportunities at LiveOps, a call center staff. You might be surprised at how much time and money you save when you work at home. There is no transit, and you can cook for yourself. Think about it!
Become a Dropshipper - Dropshipping is not a strange term, especially when eCommerce is booming. Anyone can be a drop shipper since the work requires low investment at the beginning and also guarantees minimal risk. The system operates by purchasing the stock (goods) from a third party supplier or manufacturer, who then fulfills the customer’s request. You don’t have to shop or handle goods in advance because the product comes directly from the vendors whenever an order is placed by a customer. There are many dropshipping platforms out there, and some are basically free to use. You will need to figure out how to market the goods, which is where a blog or website comes in very handy.
Affiliate Marketing - Affiliate marketing is a popular method of making money online in South Africa and across the world. You can sell into a variety of markets with this business model, and make money almost anywhere. You can generate revenue from product sales. In other words, affiliate marketers will refer readers to a lot of products and get a small cut from them. Once a customereader buys products, you will earn a commission. A widely known approach is to start creating your own blog in a specific niche and to establish a trustworthy community that can purchase your promotions. Unlike dropshipping, you simply get a commission and have no other responsibilities. So easy! Check out SA’s leading affiliate network – https://www.affiliate.co.za/
Online Business with Etsy - Try selling DIY designs and crafts on Etsy if you’re a skilled maker. An Etsy shop is basically free to operate, and you can make real money with the platform. Once your registration is complete, you can start posting photos of your works, and people can purchase your products. There is really no limit to what can be sold on Etsy, but make sure that you are able to send your goods to other countries, as many buyers are likely to be in the EU or North America. A PayPal account is important to have and also a popular payment choice so that customers can pay you quickly. Take nice pictures of the items to help draw purchasers into a sale. Make sure that you have good customer service as well, or you won’t be selling on the platform for very long!
Forex Trading - You might have heard about trading FOREX or Contract For Difference (CFD) trading. The basics of this online money-making are simple. You will choose a currency pair, and bet on the direction of one currency vs. the other. For example, you could speculate that the EURO will appreciate vs. the RAND (or just about any currency). If you are correct, and then sell the contract, you will make profits. While this might sound easy, most people who do this lose money. In addition to currency, most retail FOREX brokers will allow you to trade in other markets, such as commodities, or shares. If you are looking for a reliable income, this probably isn’t right for you. On the other hand, if you don’t mind taking on risks, trading FOREX can be extremely profitable.
https://preview.redd.it/rrcxrzy8r5y51.jpg?width=1500&format=pjpg&auto=webp&s=476ca9e21c79185dc90a32856deba83465d32986 In researching the FP Trade Overview, we Discovered Prudential Markets (FP Exchange ) is a CFD and retail forex broker, with headquarters in Sydney, in the Construction right next to the Australian Securities Exchange. The business was established in 2005 by Matthew Murphie. On May 12th, 2020, FP Markets was declared as the Forex and CFDs provider with the'Greatest Quality of Trade Execution in 2019.' This announcement was made at the globally recognized Investments Trend 2019 Australia Leverage Trading Report. In 2019, FP Markets received the award for Best Global Forex Value Broker, throughout the Global Forex Award occasion in Limassol, Cyprus. The broker started working after getting a Australian Financial Services License from ASIC (the Australian Securities and Investments Commission). They've a long track record with great testimonials from industry experts and clients alike. FP Markets received their permit from the Cyprus Securities and Exchange Commission in 2018, allowing them to expand the customer base to more nations. Suffice to say our FP Markets review discovered signs of a fresh history and a solid reputation as the best forex broker. Trading with FP Trade is quite safe for the traders that can apply for an account.
https://preview.redd.it/w9npvnbspsx51.jpg?width=980&format=pjpg&auto=webp&s=ed98e1a21d545c1b0fb6be22d288469ced9f1fbc They have a lengthy track record with great reviews from industry experts and clients alike. In Exploring the FP Trade Review, we found Prudential Markets (FP Markets) is a CFD and retail Agent, with headquarters in Sydney, at the Construction right next to the Australian Securities Exchange. The company was established in 2005 by Matthew Murphie. Suffice to say that our FP Markets review discovered signs of a clean track record and a solid reputation as the best forex broker. Trading with FP Markets is quite safe for the traders who can make an application for an account. On May 12th, 2020, FP Exchange was declared as the Forex and CFDs provider with all the'Greatest Quality of Trade Execution in 2019.'This statement was made at the internationally accepted Investments Trend 2019 Australia Leverage Trading Report. In 2019, FP Exchange received the award for the Best Global Forex Value Broker, during the Global Forex Award occasion in Limassol, Cyprus. FP Markets received their permit from the Cyprus Securities and Exchange Commission in 2018, letting them expand the client base to more countries.
Needless to say that there is a lot of information online pertaining to financial markets as well. However, taking financial decisions based on this info can be riskier at times. For instance, if you want to sign up with a broker and are reading their review online, there are chances that many things in that review are manipulated but presented convincingly. Here, there is a risk of you believing in that information and ultimately regret your decision.R There has been no specific solution for this problem of getting authentic information related to best Forex brokers in the market.
This review gives you all you need to know about crypto-forex.club. It also answers this important question; "Is Crypto forex a Scam?" Have you traded/invested with Crypto Forex (crypto-forex.club) and believe you have been scammed by them? The great news is that you have a chance to get your money back. Many unregulated brokers have been found to scam traders. It’s our job to make sure you can fight back and get your money refunded. By simply reading this article, you are on the right path to recovering your money. Image by Icons8_team from Pixabay Is crypto-forex.club a scam or legit? Crypto Forex has been suspected as a scam. We don’t recommend trade with them and if you are trading with Crypto Forex contact them immediately and try to get your fund out. If Crypto Forex has done the following, you have probably a victim of Crypto Forex crypto scam. Reason to suspect a scam is in action:
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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.
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.
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:
I'm using the stop entry version - so I wait for the price to trade beyond the confirmation candle(in the direction of my trade) before entering. I don't have any data to support this decision, but I've always preferred this method over retracement-limit entries. Maybe I just like the feeling of a higher winrate even though there can be greater R:R using a limit entry. Variety is the spice of life.
I put my stop loss right at the opposite edge of the confirmation candle. NOT at the edge of the 2-candle pattern that makes up the system. I'll get into this more below - not enough trades are saved to justify the wider stops. (Wider stop means less $ per pip won, assuming you still only risk 1%).
All my profit/loss statistics are based on a 1% risk per trade. Because 1 is real easy to multiply.
There are definitely some questionable trades in here, but I tried to make it as mechanical as possible for evaluation purposes. They do fit the definitions of the system, which is why I included them. You could probably improve the winrate by being more discretionary about your trades by looking at support/resistance or other techniques.
I didn't use MBB much for either entering trades, or as support/resistance indicators. Again, trying to be pretty mechanical here just for data collection purposes. Plus, we all make bad trading decisions now and then, so let's call it even.
As stated in the title, this is for H1 only. These results may very well not play out for other time frames - who knows, it may not even work on H1 starting this Monday. Forex is an unpredictable place.
I collected data to show efficacy of taking profit at three different levels: -61.8%, -100% and -161.8% fib levels described in the system using the passive trade management method(set it and forget it). I'll have more below about moving up stops and taking off portions of a position.
And now for the fun. Results!
Total Trades: 241
TP at -61.8%: 177 out of 241: 73.44%
TP at -100%: 156 out of 241: 64.73%
TP at -161.8%: 121 out of 241: 50.20%
Adjusted Proft % (takes spread into account):
TP at -61.8%: 5.22%
TP at -100%: 23.55%
TP at -161.8%: 29.14%
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):
7pm-4am: Fewer setups, but winrate high.
5am-6am: Lots of setups, but but winrate low.
12pm-3pm Medium number of setups, but winrate low.
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.
Moving SL up to 0% when the price hits -61.8%, TP at -100%
Adjusted Proft % (takes spread into account): 5.36%
Taking half position off at -61.8%, moving SL up to 0%, TP remaining half at -100%
Adjusted Proft % (takes spread into account): -1.01% (yes, a net loss)
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:
Moving SL up to 0% when the price hits -61.8%, TP at -100%
Winrate(breakeven doesn't count as a win): 46.4%
Adjusted Proft % (takes spread into account): 17.97%
Taking half position off at -61.8%, moving SL up to 0%, TP remaining half at -100%
Winrate(breakeven doesn't count as a win): 65.97%
Adjusted Proft % (takes spread into account): 11.60%
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.
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.
Total Trades: 75
TP at -61.8%: 84.00%
TP at -100%: 73.33%
TP at -161.8%: 60.00%
Moving SL up to 0% when the price hits -61.8%, TP at -100%: 53.33%
Taking half position off at -61.8%, moving SL up to 0%, TP remaining half at -100%: 53.33% (yes, oddly the exact same winrate. but different trades/profits)
Adjusted Proft % (takes spread into account):
TP at -61.8%: 18.13%
TP at -100%: 26.20%
TP at -161.8%: 34.01%
Moving SL up to 0% when the price hits -61.8%, TP at -100%: 19.20%
Taking half position off at -61.8%, moving SL up to 0%, TP remaining half at -100%: 17.29%
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):
"System Details" I described above.
TP at -161.8%
Static SL at opposite side of confirmation candle - I won't move stops up to breakeven.
Trade only 7am-11am and 4pm-11pm signals.
Nothing where spread is more than 25% of trade width.
Looking at the data for these rules, test results are:
Adjusted Proft % (takes spread into account): 47.43%
I'll be sure to let everyone know how it goes!
Other Technical Details
ATR is only slightly elevated in this date range from historical levels, so this should fairly closely represent reality even after the COVID volatility leaves the scalpers sad and alone.
The sample size is much too small for anything really meaningful when you slice by hour or pair. I wasn't particularly looking to test a specific pair here - just the system overall as if you were going to trade it on all pairs with a reasonable spread.
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.
I'm on the East Coast in the US, so the timestamps are Eastern time.
Time stamp is from the confirmation candle, not the indecision candle. So 7am would mean the indecision candle was 6:00-6:59 and the confirmation candle is 7:00-7:59 and you'd put in your order at 8:00.
I found a couple AM/PM typos as I was reviewing the data, so let me know if a trade doesn't make sense and I'll correct it.
Insanely detailed spreadsheet notes
For you real nerds out there. Here's an explanation of what each column means:
Pair - duh
Date/Time - Eastern time, confirmation candle as stated above
Win to -61.8%? - whether the trade made it to the -61.8% TP level before it hit the original SL.
Win to -100%? - whether the trade made it to the -100% TP level before it hit the original SL.
Win to -161.8%? - whether the trade made it to the -161.8% TP level before it hit the original SL.
Retracement level between -61.8% and -100% - how deep the price retraced after hitting -61.8%, but before hitting -100%. Be careful to look for the negative signs, it's easy to mix them up. Using the fib% levels defined in ParallaxFX's original thread. A plain hyphen "-" means it did not retrace, but rather went straight through -61.8% to -100%. Positive 100 means it hit the original SL.
Retracement level between -100% and -161.8% - how deep the price retraced after hitting -100%, but before hitting -161.8%. Be careful to look for the negative signs, it's easy to mix them up. Using the fib% levels defined in ParallaxFX's original thread. A plain hyphen "-" means it did not retrace, but rather went straight through -100% to -161.8%. Positive 100 means it hit the original SL.
Trade Width(Pips) - the size of the confirmation candle, and thus the "width" of your trade on which to determine position size, draw fib levels, etc.
Loser saved by 2 candle stop? - for all losing trades, whether or not the 2-candle stop loss would have saved the trade and how far it ended up getting if so. "No" means it didn't save it, N/A means it wasn't a losing trade so it's not relevant.
Spread(ThinkorSwim) - these are typical spreads for these pairs on ToS.
Spread % of Width - How big is the spread compared to the trade width? Not used in any calculations, but interesting nonetheless.
True Risk(Trade Width + Spread) - I set my SL at the opposite side of the confirmation candle knowing that I'm actually exposing myself to slightly more risk because of the spread(stop order = market order when submitted, so you pay the spread). So this tells you how many pips you are actually risking despite the Trade Width. I prefer this over setting the stop inside from the edge of the candle because some pairs have a wide spread that would mess with the system overall. But also many, many of these trades retraced very nearly to the edge of the confirmation candle, before ending up nicely profitable. If you keep your risk per trade at 1%, you're talking a true risk of, at most, 1.25% (in worst-case scenarios with the spread being 25% of the trade width as I am going with above).
Win or Loss in %(1% risk) including spread TP -61.8% - not going to go into huge detail, see the spreadsheet for calculations if you want. But, in a nutshell, if the trade was a win to 61.8%, it returns a positive # based on 61.8% of the trade width, minus the spread. Otherwise, it returns the True Risk as a negative. Both normalized to the 1% risk you started with.
Win or Loss in %(1% risk) including spread TP -100% - same as the last, but 100% of Trade Width.
Win or Loss in %(1% risk) including spread TP -161.8% - same as the last, but 161.8% of Trade Width.
Win or Loss in %(1% risk) including spread TP -100%, and move SL to breakeven at 61.8% - uses the retracement level columns to calculate profit/loss the same as the last few columns, but assuming you moved SL to 0% fib level after price hit -61.8%. Then full TP at 100%.
Win or Loss in %(1% risk) including spread take off half of position at -61.8%, move SL to breakeven, TP 100% - uses the retracement level columns to calculate profit/loss the same as the last few columns, but assuming you took of half the position and moved SL to 0% fib level after price hit -61.8%. Then TP the remaining half at 100%.
Overall Growth(-161.8% TP, 1% Risk) - pretty straightforward. Assuming you risked 1% on each trade, what the overall growth level would be chronologically(spreadsheet is sorted by date).
Based on the reasonable rules I discovered in this backtest:
Date range: 6/11-7/3
Adjusted Proft % (takes spread into account): 47.43%
Demo Trading Results
Since this post, I started demo trading this system assuming a 5k capital base and risking ~1% per trade. I've added the details to my spreadsheet for anyone interested. The results are pretty similar to the backtest when you consider real-life conditions/timing are a bit different. I missed some trades due to life(work, out of the house, etc), so that brought my total # of trades and thus overall profit down, but the winrate is nearly identical. I also closed a few trades early due to various reasons(not liking the price action, seeing support/resistance emerge, etc). A quick note is that TD's paper trade system fills at the mid price for both stop and limit orders, so I had to subtract the spread from the raw trade values to get the true profit/loss amount for each trade. I'm heading out of town next week, then after that it'll be time to take this sucker live!
Date range: 7/9-7/30
Adjusted Proft % (takes spread into account): 20.73%
Starting Balance: $5,000
Ending Balance: $6,036.51
Live Trading Results
I started live-trading this system on 8/10, and almost immediately had a string of losses much longer than either my backtest or demo period. Murphy's law huh? Anyways, that has me spooked so I'm doing a longer backtest before I start risking more real money. It's going to take me a little while due to the volume of trades, but I'll likely make a new post once I feel comfortable with that and start live trading again.
A Forex trader's success is often directly related to the Forex broker he/she chooses to conduct business with. If a trader chooses a broker who is unwise, unethical, and/or a combination of both, the trader could lose a substantial amount of money in the Forex market. It can be very difficult to determine which Forex brokers are reputable until a trader has traded real money with them. However, by this time the trader may have lost the money that he/she has invested. Forex Brokers Reviews Fortunately, there are online sites that provide informative Forex broker reviews to aid you in choosing the right firm for your trading needs. These sites have extensively tested the brokers' Forex platforms and trading conditions using real-money accounts and making real trades. This means that you don't have to invest your own money to determine whether a Forex broker is reputable and effective at handling your trades on the market. Some of the criteria that such sites use in their reviews include the safety of a trader's deposits and the honesty of the broker. The trader can conduct his/her own online research about a specific trader via online forums, ask direct questions to the firm, and seek information from the proper authorities. One of the essential things the trader must learn about the broker is whether the firm is regulated by government authorities. Another is whether the firm uses state-of-the-art measures to ensure that the trader's personal information and account details will remain safe from unauthorized access. Sites that provide Forex broker reviews can quickly give you this vital information. forex broker review A trader should also determine the spreads and commissions that the broker will receive when executing trades on the Forex market. The lower the level of commission the better it is for you. Any commissions over 3-pips in EURUSD trades should necessitate you finding another broker. There are quality firms that only charge 1-pip for EURUSD trades. It's important for you to find out the spreads and commissions that are charged by the brokers before deciding to employ them for your Forex trades. These are usually explained on the firm's website. A trader should look for a broker that only requires a small initial deposit. At the same time, however, the trader should also consider leverage and minimum lot size as well. The trader should also choose a firm that provides many ways to fund his/her deposit, including wire transfers, credit cards, and PayPal transfers. Sites that provide Forex broker reviews will usually list the ways in which you can fund your accounts. Top Rated Forex Brokers The trader should also find the right Forex trading platform to execute his/her trades. The platform should provide a comfortable and familiar interface to the trader and should also provide plenty of customizations options. The best way to find the right platform for you is to take it for a spin via a demo account, which most reputable brokerage firms now offer. Visit Here -Most Trusted forex brokers
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[META] Recent scam/spam trends.. Or, a peak inside what it's like to moderate /r/forex
After a few...especially trying...interactions with unhappy ban recipients today, I thought it would be fun to share a little info on what moderators do to keep this place clean. :) The forex industry is full of shady characters. Any industry sitting on the intersection of financial independence, work, and money, is bound to attract them. There are many reasons for this; the lower barrier to entry compared to other markets, the lack of public knowledge on the subject, and greedy human nature to name a few. Moderating a subreddit dedicated to forex (or anything trading realted for that matter,) presents extra challenges beyond your regular sub. Marketers and scammers are super motivated, and MLM / referral marketing is extremely popular right now, which can turn everyday regular users into sources of spam. How we currently tackle this problem involves technology (scripts, bots, and automod,) a mod review workflow, and some smart sleuthing when needed. The mod team and our scripts aren't perfect though... but the few false positives we get are a very, very small fraction of all mod actions taken (~1%.) Unfortunately, that means some otherwise sincere members get handled roughly, and that can really suck.. I wish there was a better way, but the alternative is this place becomes a wild west and starts looking like your gmail spam folder. That said, here's my personal stats for JUST the last 24 hours:
Bans: 14[edit:16 nowbefore day's end, two more responding to a 'where can I learn how to trade' post.]
All mod actions (including bans, post and comment removal, etc..): 63
Ban appeals: 2
And I'm just one of the mods. . . So what scammer and marketing trends are we seeing lately?
Content marketing - Infographics with instagram handles watermarked in them, or a blog-like post with a embedded links to their own site.
Personal/direct selling - trying to move the conversation out of public view, usually by taking things to DM, or promoting a 3rd party chatroom where the rules here no longer apply.
Shills - Fake accounts used to boost the credit of another user, or service. It's no coincidence that a user asking about 'ULRA PRO SIGNALZ' will quickly have 5+ replies by low karma, new users, saying how great the service is. [edit:here's an example I just caught..]
Fake P/L Porn - We see this quite often. It's easy to fake MT4 account statements and MT4 Mobile screenshots, and new users can't tell the difference so these posts will get a lot of undeserved attention. When people ask how OP made such mad cash, a sales pitch is usually coming right up.
Honestly, it can be really frustrating at times.. luckily the scripts we have in place make weeding out ~80% of these jokers quite easy and quick. Heck, we had one scammer who blew through 12+ accounts over the last few days trying to scam people but none of their posts ever saw the light of day thanks to the spam triggers I've written. What motivates the mod team to keep this place clean? That's an easy answer: The majority of users here are new to trading. Making sure they aren't food for the wolves is important. But even with all the measures we take, some bad actors still get through. So here's where you can help: Use the report button! Anytime you see something that you think fits the descriptions listed above, or violates our sidebar rules, just report it. Even if you're not 100% sure, don't be afraid to use the report tool.. The worst thing that can happen is the mod team reviews and approves it, but the best outcome is you directly help keep this place clean and humming! :) And the mod team is always looking to improve where it can: I've already talked about what we do to scrub away bad actors, but one place we could do better is education. The plan is to rewrite a good portion of the wiki to include the following sections:
Spotting scams and scammers
How to properly compare brokers and regulatory bodies
The real reason why your old high school friend wants you to sign up to IML, and 10 ways to politely tell him to pound sand
No, that hot instagram model won't sleep with you if you buy her online course
Why all signal services are trash and can die in a fire
(Titles above are a work in progress ;P) Are you a good writer and want to help out with this? Think you can write up a killer wiki article on spotting scam artists? Message the mods and let us know! Finally, a reminder, we are still interested in taking on more moderators and will be revisiting that very shortly. If you'd be interested, read through this post and reply accordingly: https://www.reddit.com/Forex/comments/h7ok6k/seeking_more_mods_recruitment_thread/
eToro: impressions, doubts and (ignored) lessons from copy trading
(no promotional content, no affiliate links) Hi, exactly four years ago, I started copying eToro investors / traders that I selected using the broker's built-in search engine (profitable in last two years, already being copied by others), followed by manual filtering, to take into account fluctuations in yearly returns, composition of their portfolios etc. With that, I got a list of 10 people whom I started to copy on a demo account: https://drive.google.com/file/d/1u52f0XHfr-LauIscKcFDYF0yGTTUr6VY/view?usp=sharing In the screenshot you can see that in case of the first two of them the amount invested was $10,000, while for the rest it was just $100. This is because I started copying the first two a couple of weeks earlier; eventually I changed this into $100 the same day I made the screenshot and this is when my calculations start - so this thing is irrelevant, I just cannot travel in time to make another screenshot. What I did after that? Well, within the next six weeks my profits oscillated between -$11 and +$9.50 (the biggest profit was on Nov 9, a day after US presidential elections). I found this "boring" and discontinued experimenting with copy trading. Today I looked back at those ten traders. Here is what I found. Firstly, seven of them are not with eToro anymore; investorNo1, Simple-Stock-Mkt, tradingrelax, 4exPirate, primit, Gallojack, xjurokx. The other three traders are:
toppertrader: not being copied by anyone and for a good reason: his loss this year alone is 61.16%!
Jean-marcLenfant: copied by only 67 people; his loss this year is -1.09% but in general he is quite successful, with yearly profits ranging from 3.57% to 7.32%.
Girem2: he has no copiers, his profit this year is 41.45% but in 2018 he experienced a loss of 83.15%!
My observations and thoughts are as follows:
Seven out of ten traders are not with eToro anymore, which makes me wonder why. I have no proof but my guess is they simply performed poorly, lost their copiers and closed their accounts. This is already alarming but what if they opened another account? Or, even worse, multiple accounts? They could be investing small money and try different risky approaches, hoping that at least one account will turn out profitable in the long turn, attracting potential copiers. (I'm not claiming that those 7 particular traders did this, it's just my general suspicion regarding some of eToro traders)
I'm unable to calculate what would be my profit if I never stopped copying them, because I cannot check at what day and with what profit those seven traders left eToro. I'm guessing this would be an immense loss. On the other hand, considering the three traders who are still with eToro, I would lose more than a quarter of my assets!
What now? I must be a quite adventurous person or at least an incorrigible optimist, because a month ago (exactly on Aug 26th) I started copying three traders with real money. Here is who they are. rubymza (Heloise Greeff)
invests in stocks, with GOOG, INTC, BLDP, MA, MSFT, AMZN, V, MU, IBM and NXPI making up 50.3% of her portfolio (allocation of each of them is in between 3.02% and 6.85%)
active since 2016 (only the year 2016 ended with a loss)
has 3044 copiers and $2M-$5M of copy assets under management
strategy (her own words): "My investing strategy focusses mostly on US indices, tech and pharma, promising future (5-10years) growth. My trades are based on technical analysis using machine learning to understand patterns and trends in the markets. I prefer to keep a diverse portfolio to spread risk while achieving great returns."
he is a Forex trader, making typically 21 trades per week; his favorite currency pairs are EURCHF (12% of trades), CADCHF and GBPUSD; the trades, however, typically make up below 5% of his portfolio (at least whenever I'm checking it), making most of my funds unused
active since January 2017: surprisingly enough, he has every single month profitable, though monthly profits are in the range of 0.03% to 3.34% only
has 8977 copiers and more than $5M of copy assets under management
strategy (his own words): "I monitor currency pairs all day to find the best entry. There is some management/scaling position for perfect entry. The risk control is a big part of my strategy," (quite vague, to be honest)
commodities compose 76% of his portfolio and his favorite assets are Gold and Oil (at the moment, Gold makes up half of invested amount)
active since July 2016, with the following yearly profits, starting from 2016: 6.56%, 10.05%, 13.09%, 32.26% and -2.03% (the current year)
has 1493 copiers and $1M-$2M of copy assets under management
strategy (his own words): "My system is based on patterns, and a variety of technical analysis tools and some fundamental analysis. I primarily trade in commodities. " (quite vague as well)
own experience: my profit with rayvahey is 2.56%
What was my strategy to hand-pick these particular traders? First I did some basic scanning using eToro's built-in search engine. The most important filter was that the trader was profitable within the last two years: unfortunately, eToro does not allow to reach details of earlier performance automatically. To know how the trader performed before 2019, I had to look at stats in the profile of each of them. I was also taking into account how often they trade (to avoid those who do only a couple of trades yearly), whether they were trading recently and whether they write posts regularly in their feed. With this, I got a list of fifteen candidates to copy:
As you already know, I finally chose three of them. Rubymza seemed to be the most trustworthy stock trader, based on profits, posts feed and regular trading, among other things. Regarding OlivierDanvel, his uniqueness is the ability to record continuous profits with the Forex market. Finally, with rayvahey I wanted to increase my exposure to the commodities market. Wish me good luck! Michael P.S. You might find those copy-trading related readings interesting:
When one typically hears the phrase “forex scam” one automatically assumes that it is being perpetrated by an unlicensed or unregulated forex broker. For the most part, that assumption is correct. All you have to do is a quick google search and you will find numerous articles detailing reprehensible acts committed by unregulated forex and binary options brokers. However, there have been numerous instances of regulated forex brokers skirting the rules.
Not all regulated brokers are trustworthy
Unfortunately, there are numerous regulated forex brokers that have defrauded unsuspecting clientele as well. Last year on the CFTC slapped a $7 million fine on Forex Capital Markets (FXCM) in a civil monetary penalty for engaging in fraudulent and misleading solicitations, spanning from September 4, 2009, through at least 2014. Additionally, the CFTC emphasized that FXCM had misrepresented that its ‘No Dealing Desk’ trading platform had no conflicts of interest with its clientele. Instead of running a true ECN execution platform where trades are performed directly in the interbank market, their clientele’s trades would be redirected to a Effex Capital LLC, which was originally designated to be an independent market maker but was, in reality, an extension of FXCM. Effex Capital would take very aggressive forex trades against the investors in order that they would lose and in return, FXCM would be the beneficiary of some very high kickbacks, which they received under the table from FXCM.
FXCM barred from the U.S.
Because of their duplicitous practices, the CFTC withdrew their regulation and FXCM was no longer allowed to service U.S. customers. Additionally, FXCM was caught by the FCA in yet another forex scam. They took away their investors’ positive swaps, causing them to only receive negative swaps. Surprisingly, the FCA did not remove their regulation.
Beware of OTCapital
OTCapital, forex broker regulated by ASIC has been swindling numerous investors. Broker Complaint Registry has received numerous complaints from those who have been victimized by their reprehensible practices. Complaints have ranged from not allowing clients to withdraw their earnings to never receiving a call back after they had deposited. Unfortunately, ASIC has not taken any action against OTCapital.
Protect yourself from a forex scam
Before you deposit money with a broker you must first make sure that the broker is regulated by an entity such as the CFTC, FCA, ASIC or the IIROC. Remember not all regulatory bodies are created equal. For example, if the broker that you are interested in has only a CySEC (Cyprus) regulation it would be wise to steer clear. Although they have gotten tougher on rulebreakers, CySEC is still lax in numerous areas. Additionally, do your research. This means reading reviews, looking at various forums, and so on. It is not enough that the broker you are interested in has a regulation. You must vet them. If you have fallen victim to a cryptocurrency scam, send a complaint to at [[email protected]](mailto:[email protected]), and we will do our very best to get into contact with you as soon as we can to initiate your funds recovery process. Visit www.fundsrecovery247.com for more information or Contact - [email protected] com.
With new forex brokers coming online every day, it often requires a lot of research and patience to choose the best forex broker for you. We have identified some of the key things that every trader needs to assess when selecting a broker to save you time and help beginner traders, and we have compiled a list of the best Forex brokers on the market. The Bottom Line: The brokers below represent the best brokers for beginners. Pro Tip: Most of these brokers provide free demo accounts so that you can use virtual money to test the brokers and their platforms. Before using your own cash, give it a try with some game money. Here is a summary of the best novice brokers. Note: Not all Forex brokers accept US clients. For your convenience we specified those that accept US Forex traders as clients.
The FCA (Financial Conduct Authority) finally got around to updating its list of unregulated online trading brokers. This list includes both forex and binary options unregulated brokers. Despite the fact, these brokers supposedly offer numerous services they are located in financial havens such as Seychelles, the Marshall Islands or Vanuatu and provide little to no information as to who they really are, and which parent company operates them. So, without further ado let’s introduce these fraudulent companies
Owned by LOK Marketing Ltd, this forex broker is supposedly located in Vanuatu, a tax haven for any illicit business. Apparently, SolidCFD appears to be forging a path for current forex brokers and others that would like to set up shop in the country, whose major exports are frozen fish and distinct floating edifices. However, upon further inspection, the SolidCFD has two other offices registered on their website. The first is under the name MGNC Marketing Ltd. and it is located in Cyprus. A quick google search tells us all that we need to know. MGNC Marketing LTD (Solid CFD) cold-calls potential investors and offers them unauthorized or prohibited financial services. An additional address is attributed to an area in West London. However, upon further review, there is no real company located there. Unsurprisingly no company is registered in the UK under SolidCFD, LOK marketing or MGNC Marketing, which implies that the broker has no physical presence in the United Kingdom. Furthermore, there is a whole list of negative reviews pertaining to SolidCFD. This includes clients being unable to withdraw their funds, aggressive salesmen and not being able to log back into an account once a withdrawal request is made.
Registered in the Marshal Islands, the company supposedly has an office in North London. However, the address that is provided is used by a company that enables other companies to register their business under their address. This obviously implies that StratX has no workers at its given address. Just by merely glancing at a few of the reviews tells you that StratX Markets is operated by a bunch of con-artists. In fact what is more alarming, a number of former clients are claiming that StratX personnel are operating a fraudulent fund recovery company called Linrow Clarion Solvency that claims they can recover money that was lost to illegitimate brokers like Stratx Markets.
Options Stars Global
Last but not least this “broker” is registered in Samoa, but apparently has some sort of a branch in Cyprus that is regulated by CySEC. That is patently false. Additionally, although the website has a U.K. phone number none of their of operations occur in the country. Not only Are there plenty of negative reviews about them, there is a dedicated Facebook page against them Users of the website report an inability to withdraw funds, threatening salesmen, and pushy brokers who tempt traders into depositing more cash into their accounts. The company has done so badly they even have a Facebook page against them.
If you have fallen victim to a cryptocurrency scam, send a complaint to at [[email protected]](mailto:[email protected]), and we will do our very best to get into contact with you as soon as we can to initiate your funds recovery process.
Bitcoin Broker Understand the Benefits of CryptoCurrency Trading
Bitcoin is a cryptocurrency, which can be spent, saved, or invested, and it can be stolen too. Trading with Bitcoins was considered to be risky, but the current trends show that it has become a big hit the binary options sector. This decentralized currency is not regulated by any Government, or by any central authority. What determines the price of Bitcoins? Bitcoin's price is determined according to the supply and demand ratio. Price increases when the demand increases, the rates plummet downwards when the demand falls. Bitcoins in circulation are limited, and new ones are created at a very slow rate. Since it does not have enough cash reserve to move the market price, its price can be extremely volatile. Bitcoin trading is popular because of -
Low inflation risk - Inflation is the biggest issue for traders, because all the currencies lose some of their purchasing power when the reserve banks keep printing more currency. With Bitcoin minting system being limited to just 21 million Bitcoins, it hardly gets impacted with inflation.
Low collapse risk - Currencies fluctuations depend on government trade policies, which at times cause hyperinflation, and even lead to the collapse of currency. Bitcoin is a virtual universal currency, which is not regulated by any government.
Simple, safe and cheap - The Bitcoin payments take place between peer-to-peer without any intermediary, which is why it is simple and cheap.
Easy to carry - Bitcoins worth million dollars can be carried in your pocket, in a memory stick. This cannot be done with gold or cash.
Untraceable - Issuance of Bitcoin is not regulated by any government, so the risk of seizure is nil.
Binary options Bitcoin trading platform bitcoin binary options are getting familiar with popularity of these Bitcoins, and its constant fluctuating values. Therefore they are using this opportunity to offer traders with the latest volatile crypto-currency as an additional payment method. Bitcoin brokers providing crypto-currency as trading option include -
One touch option - Bitcoin trading can be done with AnyOption or one-touch option. For example the current popular currency pair is BTC/USD.
SetOption - The latest option available for asset trading is BITCOIN/USD.
Bitcoin brokers provide a simple trading online platform. All you have to do is visit their website, enter your details, and create an account. You can start with demo account to understand the market action. The trading screen is simple.
Pick the price direction (UP/DOWN)
Select the timeframe
Is Bitcoin trading secure? Bitcoin network is possibly the world's vast spread computing project. The most common weakness here is the user errors. Bitcoin wallet files can get lost, stolen, or deleted accidentally just like any other files in the digital form. However, users can use sound security strategies to protect their cash. Alternatively, you could choose the service providers who offer high-level security, as well as insurance against loss or theft. We provide latest information on Bitcoin brokers and online trading platforms on our website. Please visit our website to check out the broker reviews in order to make the right choices.
People today are always looking for the latest forex market news. There are many great portals and outlets that one may be connected to when looking in the right places. This guide is going to help set investors ahead and make a decent amount of money. Pay attention and take notes to seek the right news available. Forex Brokers Reviews Of course the internet will always be the best place for the latest news. People always log on to the top news sites in order to get up to the minute news and breaking coverage. When it comes to the forex market, the internet is going to have the latest news that is needed to stay in touch and keep making money. A forex professional or broker is also a good resource to turn to. These professionals will usually talk over the phone or chat online for a few minutes at a time to get the latest forex news. Take note of what they say, this way you will always be one step ahead and apply what they say to the investments made. forex broker review Various trading sites will help to extend the online search to get better news. Other traders can speak with other traders online as well as get updates through emails whenever they are at their computer. This helps to make trading more convenient and allows traders to break free of computers for a little while. Fxweekly.com is also going to help extend the right kind of forex trading news. Again, these publications may be found online and they may be sent to a valid email address. Sign up for weekly updates or even quarterly updates to stay in tune and know what is going on with the market at all times. Top Rated Forex Brokers The latest forex market news is always just around the corner. As long as the proper outlets and websites are found, the news is going to be quite useful. Get onboard with the best new outlets today and the best investments will be shown to the right traders. Visit Here -Most Trusted forex brokers
Reviews about forex trading have already pop out mostly on review sites especially this time. If you are considering a different forex trading brand, avoid getting caught out by scammers who are using social media offering unrealistic profits. If they could make the money they are claiming, why are they even advertising on social media? Remember, there are plenty legitimate brokers out there. So you better make a research first before biting to the scammers offers. They might be offering to trade on your behalf or use their own managed or automated trades.
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In reviews about degiro I've seen: "The lack of markets and investment types, does mean however, it is better suited to ‘buy and hold’ investors, rather than active day traders." I also heard some people say that degiro "might not be ideal for daytraders". What does this mean in particular? Is the first sentence refering to that you can't trade CFD's and forex? What do "markets" and "investment types" mean in that context? I guess my baseline question would be: Can I just trade options during the day, and take advantage of degiro's relatively low transaction fees, while also holding some stocks/etfs on the side for a bit longer? Or is there a caveat/catch to it (and is this not the best broker for a dutch beginner, like myself)? Because from everything I've researched degiro looks like a damn good option, but these reviews are giving me some doubts. Thanks a lot for reading
FOREX.com are forex brokers. FOREX.com offers the MetaTrader4 and GTX-Forex ECN top forex trading platforms. FOREX.com offers over 40 currency pairs, gold, and silver for your personal investment and trading options. View Closed Brokers: click here Compare forex broker spreads in real time: Forex Broker Spreads The opinions provided are not necessarily those of Myfxbook or its affiliates and should not be viewed as solicitation or recommendation for any signal provider. Research and compare of the worlds top regulated forex brokers in this detailed, Find the best Forex Broker and take your trading to the next level. Our detailed forex broker reviews include live testing commentary, trade platform analysis, spread and trading commission breakdowns, user account features, mobile trading apps, category rankings, high def screenshot galleries, and more FX related data. ForexBrokers.com menu. Guides. Best Forex Brokers 2020 Best Copy Trading Brokers Best MetaTrader Brokers Forex Trading for Beginners; Best ... FOREX.com has not experienced server issues or outages during this time, so a solution may be to clear your browser’s cookies and cache, or trying a different browser. While you specifically mentioned being attracted to our web-based platforms, we wanted to make you aware of our desktop and mobile apps as a way to access your account. Forex Brokers offer well-known and proven payment methods. Capitalize the trading account with electronic methods (credit card, e-wallet, PayPal, crypto) or with the classic way of bank transfer. Electronic methods work in real-time and the money is credited directly to the trading account. Trading can be started immediately. The minimum deposit at the compared brokers is very low. For example ... Forex Peace Army is famous for its largest collection of forex brokers reviews since 2005. Search. Popular brokers accepting US traders . LQDFX.com. Rating 3.324 · 107 reviews . 70+ Currencies Leverage 500:1 Minimum $20 MT4. Coinexx.com. Rating 3.534 · 67 reviews . 60+ Currencies 5+ Cryptos 5+ CFDs Leverage 500:1 Minimum $5 MT4 MT5. LMFX.com. Rating 3.351 · 126 reviews . 45+ Currencies ... List of the best Forex Brokers for 2020 that provide access to foreign exchange markets. Explore Forex Broker reviews, ratings, and trading conditions. FOREX.com delivers an excellent trading experience for forex and CFDs traders across the globe. With competitive pricing, full-feature trading platforms, comprehensive market research, and a robust mobile app, FOREX.com caters to traders of all experience levels. Most forex brokers handle the basic market, stop and limit order types. Nevertheless, some brokers also offer support for OCO (one-cancels-the-other) and trailing stops. If either of these more specialized order types would be suitable for your trading plan, then be sure that your chosen broker supports them and make sure that you fully understand the limitation of these different order types.
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