How to Read Currency Pairs: Forex Quotes Explained

Questrade or IB as broker with 10K account ? Who is cheap ?

I need your advice, should i move from questrade to IB? I have 10k USD account and i am currently doing 10 to 15 trades a month. I am paying questrade $4.95 to buy + $4.95 to sell and on top of that they charge me live data fee which is about $20. I get rebate for doing certain number of trades. Can you please tell me what will be more beneficial for me based on my number of trade and account size. I trade US stock only in this account.
submitted by zoop123456 to CanadianInvestor [link] [comments]

Former investment bank FX trader: News trading and second order thinking part 2/2

Former investment bank FX trader: News trading and second order thinking part 2/2
Thanks for all the upvotes and comments on the previous pieces:
From the first half of the news trading note we learned some ways to estimate what is priced in by the market. We learned that we are trading any gap in market expectations rather than the result itself. A good result when the market expected a fantastic result is disappointing! We also looked at second order thinking. After all that, I hope the reaction of prices to events is starting to make more sense to you.

Before you understand the core concepts of pricing in and second order thinking, price reactions to events can seem mystifying at times
We'll add one thought-provoking quote. Keynes (that rare economist who also managed institutional money) offered this analogy. He compared selecting investments to a beauty contest in which newspaper readers would write in with their votes and win a prize if their votes most closely matched the six most popularly selected women across all readers:
It is not a case of choosing those (faces) which, to the best of one’s judgment, are really the prettiest, nor even those which average opinions genuinely thinks the prettiest. We have reached the third degree where we devote our intelligences to anticipating what average opinion expects the average opinion to be.
Trading is no different. You are trying to anticipate how other traders will react to news and how that will move prices. Perhaps you disagree with their reaction. Still, if you can anticipate what it will be you would be sensible to act upon it. Don't forget: meanwhile they are also trying to anticipate what you and everyone else will do.

Part II
  • Preparing for quantitative and qualitative releases
  • Data surprise index
  • Using recent events to predict future reactions
  • Buy the rumour, sell the fact
  • The trimming position effect
  • Reversals
  • Some key FX releases

Preparing for quantitative and qualitative releases

The majority of releases are quantitative. All that means is there’s some number. Like unemployment figures or GDP.
Historic results provide interesting context. We are looking below the Australian unemployment rate which is released monthly. If you plot it out a few years back you can spot a clear trend, which got massively reversed. Knowing this trend gives you additional information when the figure is released. In the same way prices can trend so do economic data.

A great resource that's totally free to use
This makes sense: if for example things are getting steadily better in the economy you’d expect to see unemployment steadily going down.
Knowing the trend and how much noise there is in the data gives you an informational edge over lazy traders.
For example, when we see the spike above 6% on the above you’d instantly know it was crazy and a huge trading opportunity since a) the fluctuations month on month are normally tiny and b) it is a huge reversal of the long-term trend.
Would all the other AUDUSD traders know and react proportionately? If not and yet they still trade, their laziness may be an opportunity for more informed traders to make some money.
Tradingeconomics.com offers really high quality analysis. You can see all the major indicators for each country. Clicking them brings up their history as well as an explanation of what they show.
For example, here’s German Consumer Confidence.

Helpful context
There are also qualitative events. Normally these are speeches by Central Bankers.
There are whole blogs dedicated to closely reading such texts and looking for subtle changes in direction or opinion on the economy. Stuff like how often does the phrase "in a good place" come up when the Chair of the Fed speaks. It is pretty dry stuff. Yet these are leading indicators of how each member may vote to set interest rates. Ed Yardeni is the go-to guy on central banks.

Data surprise index

The other thing you might look at is something investment banks produce for their customers. A data surprise index. I am not sure if these are available in retail land - there's no reason they shouldn't be but the economic calendars online are very basic.
You’ll remember we talked about data not being good or bad of itself but good or bad relative to what was expected. These indices measure this difference.
If results are consistently better than analysts expect then you’ll see a positive number. If they are consistently worse than analysts expect a negative number. You can see they tend to swing from positive to negative.

Mean reversion at its best! Data surprise indices measure how much better or worse data came in vs forecast
There are many theories for this but in general people consider that analysts herd around the consensus. They are scared to be outliers and look ‘wrong’ or ‘stupid’ so they instead place estimates close to the pack of their peers.
When economic conditions change they may therefore be slow to update. When they are wrong consistently - say too bearish - they eventually flip the other way and become too bullish.
These charts can be interesting to give you an idea of how the recent data releases have been versus market expectations. You may try to spot the turning points in macroeconomic data that drive long term currency prices and trends.

Using recent events to predict future reactions

The market reaction function is the most important thing on an economic calendar in many ways. It means: what will happen to the price if the data is better or worse than the market expects?
That seems easy to answer but it is not.
Consider the example of consumer confidence we had earlier.
  • Many times the market will shrug and ignore it.
  • But when the economic recovery is predicated on a strong consumer it may move markets a lot.
Or consider the S&P index of US stocks (Wall Street).
  • If you get good economic data that beats analyst estimates surely it should go up? Well, sometimes that is certainly the case.
  • But good economic data might result in the US Central Bank raising interest rates. Raising interest rates will generally make the stock market go down!
So better than expected data could make the S&P go up (“the economy is great”) or down (“the Fed is more likely to raise rates”). It depends. The market can interpret the same data totally differently at different times.
One clue is to look at what happened to the price of risk assets at the last event.
For example, let’s say we looked at unemployment and it came in a lot worse than forecast last month. What happened to the S&P back then?

2% drop last time on a 'worse than expected' number ... so it it is 'better than expected' best guess is we rally 2% higher
So this tells us that - at least for our most recent event - the S&P moved 2% lower on a far worse than expected number. This gives us some guidance as to what it might do next time and the direction. Bad number = lower S&P. For a huge surprise 2% is the size of move we’d expect.
Again - this is a real limitation of online calendars. They should show next to the historic results (expected/actual) the reaction of various instruments.

Buy the rumour, sell the fact

A final example of an unpredictable reaction relates to the old rule of ‘Buy the rumour, sell the fact.’ This captures the tendency for markets to anticipate events and then reverse when they occur.

Buy the rumour, sell the fact
In short: people take profit and close their positions when what they expected to happen is confirmed.
So we have to decide which driver is most important to the market at any point in time. You obviously cannot ask every participant. The best way to do it is to look at what happened recently. Look at the price action during recent releases and you will get a feel for how much the market moves and in which direction.

Trimming or taking off positions

One thing to note is that events sometimes give smart participants information about positioning. This is because many traders take off or reduce positions ahead of big news events for risk management purposes.
Imagine we see GBPUSD rises in the hour before GDP release. That probably indicates the market is short and has taken off / flattened its positions.

The price action before an event can tell you about speculative positioning
If GDP is merely in line with expectations those same people are likely to add back their positions. They avoided a potential banana skin. This is why sometimes the market moves on an event that seemingly was bang on consensus.
But you have learned something. The speculative market is short and may prove vulnerable to a squeeze.

Two kinds of reversals

Fairly often you’ll see the market move in one direction on a release then turn around and go the other way.
These are known as reversals. Traders will often ‘fade’ a move, meaning bet against it and expect it to reverse.

Logical reversals

Sometimes this happens when the data looks good at first glance but the details don’t support it.
For example, say the headline is very bullish on German manufacturing numbers but then a minute later it becomes clear the company who releases the data has changed methodology or believes the number is driven by a one-off event. Or maybe the headline number is positive but buried in the detail there is a very negative revision to previous numbers.
Fading the initial spike is one way to trade news. Try looking at what the price action is one minute after the event and thirty minutes afterwards on historic releases.

Crazy reversals


Some reversals don't make sense
Sometimes a reversal happens for seemingly no fundamental reason. Say you get clearly positive news that is better than anyone expects. There are no caveats to the positive number. Yet the price briefly spikes up and then falls hard. What on earth?
This is a pure supply and demand thing. Even on bullish news the market cannot sustain a rally. The market is telling you it wants to sell this asset. Try not to get in its way.

Some key releases

As we have already discussed, different releases are important at different times. However, we’ll look at some consistently important ones in this final section.

Interest rates decisions

These can sometimes be unscheduled. However, normally the decisions are announced monthly. The exact process varies for each central bank. Typically there’s a headline decision e.g. maintain 0.75% rate.
You may also see “minutes” of the meeting in which the decision was reached and a vote tally e.g. 7 for maintain, 2 for lower rates. These are always top-tier data releases and have capacity to move the currency a lot.
A hawkish central bank (higher rates) will tend to move a currency higher whilst a dovish central bank (lower rates) will tend to move a currency lower.
A central banker speaking is always a big event

Non farm payrolls

These are released once per month. This is another top-tier release that will move all USD pairs as well as equities.
There are three numbers:
  • The headline number of jobs created (bigger is better)
  • The unemployment rate (smaller is better)
  • Average hourly earnings (depends)
Bear in mind these headline numbers are often off by around 75,000. If a report comes in +/- 25,000 of the forecast, that is probably a non event.
In general a positive response should move the USD higher but check recent price action.
Other countries each have their own unemployment data releases but this is the single most important release.

Surveys

There are various types of surveys: consumer confidence; house price expectations; purchasing managers index etc.
Each one basically asks a group of people if they expect to make more purchases or activity in their area of expertise to rise. There are so many we won’t go into each one here.
A really useful tool is the tradingeconomics.com economic indicators for each country. You can see all the major indicators and an explanation of each plus the historic results.

GDP

Gross Domestic Product is another big release. It is a measure of how much a country’s economy is growing.
In general the market focuses more on ‘advance’ GDP forecasts more than ‘final’ numbers, which are often released at the same time.
This is because the final figures are accurate but by the time they come around the market has already seen all the inputs. The advance figure tends to be less accurate but incorporates new information that the market may not have known before the release.
In general a strong GDP number is good for the domestic currency.

Inflation

Countries tend to release measures of inflation (increase in prices) each month. These releases are important mainly because they may influence the future decisions of the central bank, when setting the interest rate.
See the FX fundamentals section for more details.

Industrial data

Things like factory orders or or inventory levels. These can provide a leading indicator of the strength of the economy.
These numbers can be extremely volatile. This is because a one-off large order can drive the numbers well outside usual levels.
Pay careful attention to previous releases so you have a sense of how noisy each release is and what kind of moves might be expected.

Comments

Often there is really good stuff in the comments/replies. Check out 'squitstoomuch' for some excellent observations on why some news sources are noisy but early (think: Twitter, ZeroHedge). The Softbank story is a good recent example: was in ZeroHedge a day before the FT but the market moved on the FT. Also an interesting comment on mistakes, which definitely happen on breaking news, and can cause massive reversals.

submitted by getmrmarket to Forex [link] [comments]

Former investment bank FX trader: news trading and second order thinking

Former investment bank FX trader: news trading and second order thinking
Thanks to everyone who responded to the previous pieces on risk management. We ended up with nearly 2,000 upvotes and I'm delighted so many of you found it useful.
This time we're going to focus on a new area: reacting to and trading around news and fundamental developments.
A lot of people get this totally wrong and the main reason is that they trade the news at face value, without considering what the market had already priced in. If you've ever seen what you consider to be "good" or "better than forecast" news come out and yet been confused as the pair did nothing or moved in the opposite direction to expected, read on...
We are going to do this in two parts.
Part I
  • Introduction
  • Why use an economic calendar
  • How to read the calendar
  • Knowing what's priced in
  • Surveys
  • Rates decisions
  • First order thinking vs second order thinking

Introduction

Knowing how to use and benefit from the economic calendar is key for all traders - not just news traders.
In this chapter we are going to take a practical look at how to use the economic calendar. We are also going to look at how to interpret news using second order thinking.
The key concept is learning what has already been ‘priced in’ by the market so we can estimate how the market price might react to the new information.

Why use an economic calendar

The economic calendar contains all the scheduled economic releases for that day and week. Even if you purely trade based on technical analysis, you still must know what is in store.

https://preview.redd.it/20xdiq6gq4k51.png?width=1200&format=png&auto=webp&s=6cd47186db1039be7df4d7ad6782de36da48f1db
Why? Three main reasons.
Firstly, releases can help provide direction. They create trends. For example if GBPUSD has been fluctuating aimlessly within a range and suddenly the Bank of England starts raising rates you better believe the British Pound will start to move. Big news events often start long-term trends which you can trade around.
Secondly, a lot of the volatility occurs around these events. This is because these events give the market new information. Prior to a big scheduled release like the US Non Farm Payrolls you might find no one wants to take a big position. After it is released the market may move violently and potentially not just in a single direction - often prices may overshoot and come back down. Even without a trend this volatility provides lots of trading opportunities for the day trader.

https://preview.redd.it/u17iwbhiq4k51.png?width=1200&format=png&auto=webp&s=98ea8ed154c9468cb62037668c38e7387f2435af
Finally, these releases can change trends. Going into a huge release because of a technical indicator makes little sense. Everything could reverse and stop you out in a moment. You need to be aware of which events are likely to influence the positions you have on so you can decide whether to keep the positions or flatten exposure before the binary event for which you have no edge.
Most traders will therefore ‘scan’ the calendar for the week ahead, noting what the big events are and when they will occur. Then you can focus on each day at a time.

Reading the economic calendar


Most calendars show events cut by trading day. Helpfully they adjust the time of each release to your own timezone. For example we can see that the Bank of Japan Interest Rate decision is happening at 4am local time for this particular London-based trader.

https://preview.redd.it/lmx0q9qoq4k51.jpg?width=1200&format=pjpg&auto=webp&s=c6e9e1533b1ba236e51296de8db3be55dfa78ba1

Note that some events do not happen at a specific time. Think of a Central Banker’s speech for example - this can go on for an hour. It is not like an economic statistic that gets released at a precise time. Clicking the finger emoji will open up additional information on each event.

Event importance

How do you define importance? Well, some events are always unimportant. With the greatest of respect to Italian farmers, nobody cares about mundane releases like Italian farm productivity figures.
Other events always seem to be important. That means, markets consistently react to them and prices move. Interest rate decisions are an example of consistently high importance events.
So the Medium and High can be thought of as guides to how much each event typically affects markets. They are not perfect guides, however, as different events are more or less important depending on the circumstances.
For example, imagine the UK economy was undergoing a consumer-led recovery. The Central Bank has said it would raise interest rates (making GBPUSD move higher) if they feel the consumer is confident.
Consumer confidence data would suddenly become an extremely important event. At other times, when the Central Bank has not said it is focused on the consumer, this release might be near irrelevant.

Knowing what's priced in

Next to each piece of economic data you can normally see three figures. Actual, Forecast, and Previous.
  • Actual refers to the number as it is released.
  • Forecast refers to the consensus estimate from analysts.
  • Previous is what it was last time.
We are going to look at this in a bit more detail later but what you care about is when numbers are better or worse than expected. Whether a number is ‘good’ or ‘bad’ really does not matter much. Yes, really.

Once you understand that markets move based on the news vs expectations, you will be less confused by price action around events

This is a common misunderstanding. Say everyone is expecting ‘great’ economic data and it comes out as ‘good’. Does the price go up?
You might think it should. After all, the economic data was good. However, everyone expected it to be great and it was just … good. The great release was ‘priced in’ by the market already. Most likely the price will be disappointed and go down.
By priced in we simply mean that the market expected it and already bought or sold. The information was already in the price before the announcement.
Incidentally the official forecasts can be pretty stale and might not accurately capture what active traders in the market expect. See the following example.

An example of pricing in

For example, let’s say the market is focused on the number of Tesla deliveries. Analysts think it’ll be 100,000 this quarter. But Elon Musk tweets something that hints he’s really, really, really looking forward to the analyst call. Tesla’s price ticks higher after the tweet as traders put on positions, reflecting the sentiment that Tesla is likely to massively beat the 100,000. (This example is not a real one - it just serves to illustrate the concept.)

Tesla deliveries are up hugely vs last quarter ... but they are disappointing vs market expectations ... what do you think will happen to the stock?

On the day it turns out Tesla hit 101,000. A better than the officially forecasted result - sure - but only marginally. Way below what readers of Musk's twitter account might have thought. Disappointed traders may sell their longs and close out the positions. The stock might go down on ‘good’ results because the market had priced in something even better. (This example is not a real one - it just serves to illustrate the concept.)

Surveys

It can be a little hard to know what the market really expects. Often the published forecasts are stale and do not reflect what actual traders and investors are looking for.
One of the most effective ways is a simple survey of investors. Something like a Twitter poll like this one from CNBC is freely available and not a bad barometer.
CNBC, Bloomberg and other business TV stations often have polls on their Twitter accounts that let you know what others are expecting

Interest rates decisions

We know that interest rates heavily affect currency prices.
For major interest rate decisions there’s a great tool on the CME’s website that you can use.

See the link for a demo

This gives you a % probability of each interest rate level, implied by traded prices in the bond futures market. For example, in the case above the market thinks there’s a 20% chance the Fed will cut rates to 75-100bp.
Obviously this is far more accurate than analyst estimates because it uses actual bond prices where market participants are directly taking risk and placing bets. It basically looks at what interest rate traders are willing to lend at just before/after the date of the central bank meeting to imply the odds that the market ascribes to a change on that date.
Always try to estimate what the market has priced in. That way you have some context for whether the release really was better or worse than expected.

Second order thinking

You have to know what the market expects to try and guess how it’ll react. This is referred to by Howard Marks of Oaktree as second-level thinking. His explanation is so clear I am going to quote extensively.
It really is hard to improve on this clarity of thought:
First-level thinking is simplistic and superficial, and just about everyone can do it (a bad sign for anything involving an attempt at superiority). All the first-level thinker needs is an opinion about the future, as in “The outlook for the company is favorable, meaning the stock will go up.” Second-level thinking is deep, complex and convoluted.
Howard Marks
He explains first-level thinking:
The first-level thinker simply looks for the highest quality company, the best product, the fastest earnings growth or the lowest p/e ratio. He’s ignorant of the very existence of a second level at which to think, and of the need to pursue it.
Howard Marks
The above describes the guy who sees a 101,000 result and buys Tesla stock because - hey, this beat expectations. Marks goes on to describe second-level thinking:
The second-level thinker goes through a much more complex process when thinking about buying an asset. Is it good? Do others think it’s as good as I think it is? Is it really as good as I think it is? Is it as good as others think it is? Is it as good as others think others think it is? How will it change? How do others think it will change? How is it priced given: its current condition; how do I think its conditions will change; how others think it will change; and how others think others think it will change? And that’s just the beginning. No, this isn’t easy.
Howard Marks
In this version of events you are always thinking about the market’s response to Tesla results.
What do you think they’ll announce? What has the market priced in? Is Musk reliable? Are the people who bought because of his tweet likely to hold on if he disappoints or exit immediately? If it goes up at which price will they take profit? How big a number is now considered ‘wow’ by the market?
As Marks says: not easy. However, you need to start getting into the habit of thinking like this if you want to beat the market. You can make gameplans in advance for various scenarios.
Here are some examples from Marks to illustrate the difference between first order and second order thinking.

Some further examples
Trying to react fast to headlines is impossible in today’s market of ultra fast computers. You will never win on speed. Therefore you have to out-think the average participant.

Coming up in part II

Now that we have a basic understanding of concepts such as expectations and what the market has priced in, we can look at some interesting trading techniques and tools.
Part II
  • Preparing for quantitative and qualitative releases
  • Data surprise index
  • Using recent events to predict future reactions
  • Buy the rumour, sell the fact
  • The trimming position effect
  • Reversals
  • Some key FX releases
Hope you enjoyed this note. As always, please reply with any questions/feedback - it is fun to hear from you.
***
Disclaimer:This content is not investment advice and you should not place any reliance on it. The views expressed are the author's own and should not be attributed to any other person, including their employer.
submitted by getmrmarket to Forex [link] [comments]

Price Action Trading- The Greatest System.

When I first started trading, I used to add all indicators on my chart. MACD, RSI, super trend, ATR, ichimoku cloud, Bollinger Bands, everything!
My chart was pretty messy. I understood nothing and my analysis was pretty much just a gamble.
Nothing worked.
DISCLOSURE- I've written this article on another sub reddit, if you've already read it, you make skip this one and come back tomorrow.
Then I learned price action trading. And things started to change. It seemed difficult and unreliable at first.
There's a saying in my country. "Bhav Bhagwan Che" it means "Price Is GOD".
That holds true in the market.
Amos Every indicator you see is based on price. RSI uses open/close price and so does moving average. MACD uses price.
Price is what matters the most.
Everything depends on the price, and then the indicators send a signal.
Price Action trading is trading based on Candlestick patterns and support and resistance. You don't use any indicators (SMA sometimes), use plot trend lines and support and resistance zones, maybe Fibs or Pivot points.
It is not 100% successful, but the win rate is quite high if you know how to analyse it correctly.
How To Learn Price Action Trading?
YouTube channels- 1. Trading with Rayner Teo. 2. Adam Khoo. 3. The Chart Guys. 4. The Trading Channel (and some other channels including regional ones).
Books- 1. Technical Analysis Explained. 2. The trader's book of volume. 3. Trading price action trends. 4. Trading price action reversals. 5. Trading price actions ranges. 6. Naked forex. 7. Technical analysis of the financial markets.
I think this is enough information to help you get started.
Price Action trading includes a few parts.
  1. Candlestick patterns You'll have to be able to spot a bullish engulfing or a bearish engulfing pattern. Or a doji or a morning star.
  2. Chart Patterns. The flag, wedge, channels or triangles. These are often quite helpful in chart analysis without using indicators.
  3. Support or Resistance. I've seen people draw 15 lines of support and resistance, this just makes your chart messy and you don't know where the price will take a support.
You can also you the demand and supply zone concept if you're more comfortable with that.
  1. Volume. There's a quote "Boule precedes price". Volume analysis is a bit hard, but it's totally worth learning. Divergence is also a great concept.
  2. Multiple time frames. To confirm a trend or find the long term support or resistance, you can use a higher time frame. Plus, it is more reliable and divergence is way stronger on it.
You can conclude everything to make a powerful system. Like if there's a divergence (price up volume down) and there's a major resistance on some upper level and a double top is formed,
That's a very reliable strategy to go short. Combinations of various systems work very good imo.
Does this mean that indicators are useless?
No, I use moving averages and RSI quite frequently. Using price action and confirming it through indicators gives me a higher win rate.
"Bhav Bhagwan Che".
-Vikrant C.
submitted by Vikrantc2003 to Daytrading [link] [comments]

APIs offered by brokers and data platforms

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.

Platform Notes
ADM Investor Services No API
Ally Invest Does not support futures instruments
Alpaca Only supports US Equities
Alpha Vantage Does not support futures instruments
AMP Broker with a huge number of platforms available including some with APIs
ApexFutures No API
Arcade Trader No API
AvaTrade Does not support futures instruments
Backtrader Not a data feed; otherwise looks cool but also looks like a one-man shop
Cannon Trading Broker with a variety of platforms, some have API access such as TT
Centerpoint No API
Charles Schwab API does not support futures instruments
Cobra No API
Daniels Trading No API
Discount Trading Broker with a variety of platforms including CQG, Rithmic, TT, some with APIs
Edge Clear Broker with a variety of platforms including CQG, Rithmic, TT, some with APIs
Eroom Now part of Dashprime. Offer a variety of APIs including CQG, TT, CBOE's Silexx, and others via FIX.
ETNA Trader Only supports equities, options (including multi-legs), ETFs, Mutual Funds (Forex with cryptocurrencies coming soon)
ETrade API seems robust but OAuth authorization needs to be refreshed via login once per 24 hours
Futures Online No API
Gain Capital Futures API available, based on .NET; unsure if they are open to retail clients
GFF Brokers Broker with a large number of platforms including some with API access
High Ridge Futures Broker with a variety of platforms including CQG, Rithmic, TT, some with APIs
iBroker API available; contact them for more info
IEX Cloud Looks great but does not support futures instruments
Infinity Futures JSON API available; contact them for more info
Interactive Brokers Client Web API looks promising if clunky
Intrinio Supports futures instruments but is expensive
Koyfin No API
Lightspeed C++ API available
marketstack API for equities available. Does not support futures instruments.
Medved Trader Windows app with a streaming API to various data sources and brokers. See comment below about API beta access.
NinjaTrader Does not support futures options
Norgate Data Not a broker; supports futures data for $270/year
Oanda Forex only; API last updated in 2018
Optimus Futures Broker with a large number of available platforms including some with API access
Phillip Capital Broker with a large number of available platforms including some with API access
polygon.io Expensive but looks slick; does not support futures instruments
Quandl API looks solid; $49/monthly for personal use, does not allow distributing or sharing data; not a broker
Quantconnect Does not expose raw data
Quantopian Does not expose raw data
Quantower Software that connects to multiple brokers and data feeds; API to their software via C# interface
Saxo Markets Broker with extensively documented API
Stage 5 Trading API available through Trading Technologies
Straits Financial Broker with several platforms available including some with APIs such as CQG, R
Sweet Futures Broker with a large number of available platforms including some with API access
TastyWorks There's an unofficial Python API
TenQuant.io Does not support futures instruments
ThinkorSwim Does not support futures instruments via the API
Tiingo Free account tier but does not support futures instruments
TradePro Broker with a number of platforms available; unclear if any are available with API access
Tradier Free developer API account for delayed data but does not support futures instruments
TradeStation Nice looking API docs and supports futures instruments; requires opening an account and a minimum balance of $100k and there’s no trial available
TradeFutures4Less Broker with a variety of platforms including CQG, Rithmic, TT, some with APIs
TradingTechnologies API looks robust; pricing starts at $700/month
TradingView Does not expose data API
Tradovate Technologies API exists, documentation unknown; need to talk to their account team
Wedbush Futures Broker with several platforms offered, a few of which have API access
WEX .NET/COM only; pricing not disclosed on website
Xignite Pricing not disclosed on website but they do support futures instruments
Yahoo Finance API Available through RapidAPI or via direct access; but it’s discontinued and unreliable
Zaner 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
submitted by theloniusmunch to thewallstreet [link] [comments]

Why China is Pumping China Stocks

Why China is Pumping China Stocks
TLDR: China is actively fighting domestic capital outflows. They are incentivising keeping funds on-shore by pumping the equity markets. Buy large China stocks (BABA, JD).
Inb4 pos or ban
The Economics
China has a fixed exchange rate regime. Blah blah RMB internationalization, blah blah offshore RMB (which is actually settled in US dollars). This places it within line C of the policy trilemma (which says, you can't sustainably have all 3). Since 2005 to about 2017, the government was moving towards free capital mobility because of large amounts of exports which fed the national forex reserves. You bet billions of RMB left China, which the government didn't really like at first because that reduced domestic investment and would contribute to a weaker RMB. Basically, China was trying to do all 3 which works for a short while... until your forex reserves run out.

https://preview.redd.it/g0nwsssoe7f51.png?width=580&format=png&auto=webp&s=0e46b6b2cfa12b351b30ff2c5567c2f9992e99b2

The Current Problem
The trade war has definitely been bad for China. I am going to try and skip politics, but basically foreign exchange reserves have been gapping down (official Chinese data is 100% fake). China is increasingly bellicose as well, which doesn't improve relations with trading partners who also buy with US dollars.
You can't exchange for US dollars anymore. For private citizens, you can only exchange for education purposes or travel . For companies, you need verification of invoices through both SAFE (State Administration of Foreign Exchange) and the tax offices. This used to take 24hrs, but is now taking 2-3 weeks for amounts >$500k. China also has US dollar denominated bank accounts. But unfortunately, you can't take it in cash unless you have the reasons above. Chinese media is also branding holding US dollars as unpatriotic, so I'm afraid my $50k in digital money might be subject to confiscation. If not, it's just fake money (can't take cash or wire out).
China has been brrrrrring to the pace of JPOW. Weapon of choice are muni and local bonds, which have been forced upon local banks. This creates a certain credit problem, but let's not worry about that until later.

https://preview.redd.it/maul8aope7f51.png?width=1200&format=png&auto=webp&s=36dd4665517ec7303b51aa1416517c9e0ea50bef

The Solution
China's pretty smart. All those RMB quotes are fake. You can try to get US dollars, but that is almost impossible now. Anyone who wants to buy RMB, contact me and we'll trade at the current price. So looking at the impossible triangle, free capital mobility has become nonexistent. In order to keep exchange rate stability (to avoid a sudden rush towards the door) and keep printing, free capital mobility needs to be 100% sacrificed.
How do you do that with a population that has seen the west and aspire to get out? You need to keep the money onshore. Thankfully, all Chinese are greedy and the equity markets are full of retailers that pump stocks up or down 10% per day. This is one of the reasons for the early July State Council report calling for everyone to buy stocks. Who's buying? Everyone. And if it drops, the national team takes over.
This creates a powerful incentive to fill the foreign reserves again. Foreigners (funds) would want to get in on the action. They will exchange their dollars for RMB, get those 20% gains, but eventually find out trying to get that money back into USD is impossible.
China has also been strengthening the RMB from 7.10 to 6.96 as of yesterday. Smart, because why would you want to sell an asset that's weakening? This is also a reason why China fears gold rallies - buying gold causes RMB to leave. Happily for the SAFE, some banks have stopped offering their paper gold products.
China will pump its domestic markets. Unless you have a Chinese account, the closest thing you can get to are mega names like Alibaba, JD and Tencent. I would avoid touching too small companies because of LK coffee problems.
Oh yeah the trade war? Well, pussies don't make money.
submitted by 1poundbookingfee to wallstreetbets [link] [comments]

Daily Habits that I use to trade order flow

  1. Record News Articles. Then you read through the news articles and save the key phrases,
paragraphs, quotes, etc, that give you insight into the markets expectations, sentiment, global
macro, etc, and then input these input your currency specific master file.

  1. Record Propriety News Impact Releases Method and input into your currency specific file.

  1. Record impact of any other intraday events which were not on calendar which moved the
market and input into the currency specific file using the news impact release method if possible.

  1. Record any key phrases and information released on IFR, forexlive, etc that gives you insights
into market expectations, sentiment, global macro, etc, and input into currency specific file. The
daily recap of the news articles will give you a very nice overview of what happened. However, I
usually like to quickly view the IFR and scroll through the news to see if there was anything
important that was said by an important official, etc. Or if the daily news articles do not give me
sufficient meaning as to why price did what it did for the day, then I can go to IFR to read some
of their explanations to see if I agree with their story and scenarios for the market. Again, any
important information I record it into my currency master files.
  1. Label the stops and option barrier levels on your chart and set price alerts to the two closest
ones – one to the topside and one for the downside. Then once one of those gets triggered, you
just reset the price alert to the next closest stop/barrier level. Check the stop hunting section to
learn how to locate the stops.
  1. Use your currency master file to perform deep scenario analysis.
  2. Create an order flow generator list and trigger sheet. Bullish and Bearish triggers and
generators for each currency / financial instrument. What is the market pricing in. What will
shatter those expectations. I have provided you Order Flow Generators for each currency in
a separate lesson. There can be similarities between the different currencies.
  1. Prepare for next days news. Use your currency master file which should contain the history of
news impacts that you have recorded in order to determine which reports are important and
which ones are meaningless and you should not spend your time on. See the news trading
section for explanations on how to know which news releases are important.
  1. Prepare a Correlation Analysis / Sensitivity Sheet.
  2. Learn about one new order flow generator and/or scenario per day either from forex, or
bonds, futures, stocks, commodities, etc. Can be super simple or complicated mix of
participants.
submitted by Fox-The-Wise to Forex [link] [comments]

Does anyone have an easy way to comprehend forex quotes?

I wish quotes would be written as 1USD=1.2EUR Bc when i see a fraction in math like 1.2/1 i know that equals 1.2 When you see a quote like EUUSD:1.2000 It makes me think 1.2EUR over 1 USD equals 1.2 EUR. But in reality EUUSD:1.2000 means that 1.2USD is equal to one euro, correct? Can you think of the colon as an equal signs and then multiply both sides by USD to get it to EUR=1.2USD? Has anyone else struggled with this concept?
submitted by WuhanStreetBets to Forex [link] [comments]

Where does forex data come from?

I know forex is decentralized, but where does the price come from? I'm sure it's from many places I was wondering if anyone has a list with where the most volume trades come from.
submitted by befreeearth to Forex [link] [comments]

Ways to Get Your Stolen Bitcoin or Lost Crypto Back

This piece of article shows the reader about the latest techniques on how to get possibly stolen crypto money back – find out what’s been happening in the business of virtual cash transactions. You can also read on how to recover stolen bitcoin cryptocurrency and money lost to binary options forex investment scam.
Most people that use the Internet can attest to the fact that they have heard of crypto-currencies or crypto wallets. Most will not understand exactly how it works but a size-able amount of people have begun to adopt these new trends – it would be that they know it from online purchases or even from online betting like at Navolin-Gratise games or numerous gambling platforms on the World Wide Web.
A complete knowledge about a system is not a prerequisite to joining the crypto-exchange craze. Most of the transactions involved in the world of crypto-currencies is made easy for any user who knows how to navigate a cell phone app. This ease in transacting unfortunately also causes complacency amongst many users, who more often than not, forget that the Internet is a wilderness and their devices are a portal into that wilderness.
Recovering Stolen Bitcoin; How Cryptocurrency gets Lost
When buying a crypto currency or receiving funds through crypto mining, you receive a private key and a public key. To state it simply, a private key allows you and only you to be able to access your account. No bank or service provider will know or have the ability to know the key. It is therefore absolutely imperative that the holder of the key be responsible for the security of that key.
Unfortunately it does happen that people’s private keys get stolen, in which case the thief is then able to send money out of the victim’s wallet. Due to the fact that crypto currencies transcend geographical borders, little or no regulation exists to monitor crime related to the crypto market. So many people who have been victims of crypto theft have been left with very little avenue to report their cases.
According to P. Koskuwski, the CEO of blockchain, an investigative firm Koinfirma is quoted as stating that stolen crypto to date amounts to roughly $10 billion. According to their website, Koinfirma has entered into a partnership with Kroll, an intelligence-, investigations- and advisory services firm that is known for its presence in the global security industry.
Best Way to Recover Lost or Stolen Bitcoin Cryptocurrency
FundsRecovery247.com, which is a well known and one of the best asset recovery firm, has extensive experience in the cyber risk space and is trusted by well established companies and governments around the world. Combining that strength will the Koinfirma’s regulatory technology, we now have a new hope in recovering our stolen crypto.
Because cryptos are generally made so that transactions can be traced, Koinfirma’s initiative with FundsRecovery247, which has been dubbed ‘CryptoRecovery’, seeks to trace the movement of stolen funds and track them as they are moved. Hopefully if the thief is identified and located, measures are taken to recover the lost or stolen bitcoin cryptocurrency.
The process of recovery of the funds begins with you sending your email address and the amount to be claimed. Once your case has been approved, you are then quoted and all you now need to do is wait. It’s a comforting fact that Reclaim Crypto gets a piece of the reclaimed funds because it suggests that you will not be the only person hoping for the return of your crypto.
Recovering your lost or stolen bitcoin cryptocurrency is very simple, just contact Funds Recovery 247 – [email protected].
submitted by jacobserve to u/jacobserve [link] [comments]

KFC6855/环球潮鞋: The Secrets of Replica Sneaker Selling

KFC6855/环球潮鞋: The Secrets of Replica Sneaker Selling
Following a post from u/donjonne about a HUGE Weibo story on how to actually start your own 1:1 repsneaker empire, I figured as a native Mandarin speaker I gave it a shot and translated the entire article, since I myself am pretty damn intrigued what the guy's speaking.Do note this article is written in March 2017, lots of stuff may have been outdated, and I translated word-for-word with some pruned paragraphs that seems like the fella repeating himself. I absolutely hate the weird flowery prose Mandarin always carry when I work on translations, so apologies if the in-jokes or general writing gets a bit dry.
This is my personal tl;dr without the author's boastful claims, so if you're short on time, here's the quick rundown.

How do replica sneakers get sold?

Taobao: Long history with the reputation for being the single biggest online BST hub, with Tmall and Xianyu Second-hands integrated. Lots of fake reviews and seller reputation ratings. The rep game there got outta hand, CEO of Alibaba stepped in and cleaned house, thus everyone moved to...
WeChat: Lots more convoluted, no proper tracking and confirmation like a real shopping app and build quality can vary greatly between sneaker models from the same seller. But through word-of-mouth, standout resellers get recommended more organically, of course you need connections to start with.
Agents: Your best friend if you're overseas, usually ran by freelancers merely collecting orders, reporting back to resellers and have them directly ship your kicks to your doorstep. Agents can be a single person, or a huge operation i.e. Wegobuy and Ytaopal.

How's the quality tho?

Depends. Some will try to bait-and-switch, some will bond genuine friendships for simply being a return customer. Factories often cut corners to save some dough and end up with a worse rep, so like the purpose of this sub, dig into forums and guide yourself to trustworthy sellers. Author also goes on a tangent and revealed the numbers and figures of selling reps, along with the sheer gold rush he's in now. Read below for more info.

Anything of note?

We're getting ripped off. Real hard, if you're a Mainlander chances are you're being sold 1/3 of the prices we see here. Part of the reason is that the multi-level reselling jacks up the price a lot, so unless you're buying in bulk for the purpose of selling them, good luck finding GET-passable OW AJ1's for less than $70. If you get caught selling, it's fines upwards of ¥50,000 and your license revoked, but nothing too serious beyond that. Author promised more novel shoes get made in the future, like Uggs and non-hypebeast dress shoes or sumthin.

With that outta the way, here's the translation for the whole article, hope you'll learn something for it and if there's any mistakes, feel free to point it out in DMs or just in the comments.
EDIT 17/05/2020: punctuation mistakes and missing formatting, also thanks for the kind words repfam
_______________

GOD'S HAND: The Secrets of Replica Sneaker Selling


Having been in the rep game for around 4 to 5 years, it all started out of sheer curiosity. I spent ¥1099 for Air Force 1's some celebrity wore, only to had my buddy show up on me with a fake pair of the same sneaker only costs ¥300.
Not everyone is some rich parents' spoiled brat where a pair of shoes costing a couple grand is considered pocket change, yet everyone has that sense of envy, the need to follow the hype to really stand out from the crowd, so do I honestly. But then again you'd only wear that pair of grails for only a good couple months and it'll be out of the wave, why not I find myself a more wallet-friendly way to do so?
Ever since dipping my toe into the replica community, I'm making connections, meeting new friends and getting scammed in every step I make, keeping contacts of my favorite sellers (looking back yeah they're not the best and cheapest isn't it huh). I'm deep in the rabbit hole now, buying so many pairs I'm starting to be able to tell batches at a glance, and where to hunt down that very best batch at the cheapest price. At this point it's natural that I'm thinking of selling these reps and becoming a middleman with the best of the batches under one roof (which is what's following below).
Anyone who has dealt with middlemen know that actually tracking down the direct factory outlets are nigh impossible, and the multiple stages of middlemen-ception where bigger but more discreet resellers selling to more minor, smaller middlemen can only make one dream of the sheer profit you can make for being on the very top of the pyramid, that idea has only been a mere blip in my mind. There was once in a bar my fam hollered at me with "Yo you remember that John Doe went to Putian for two years? Dude gave up college and has been filthy stinkin' rich by now!" I was like bah it'll never work out for me, but with the summer break I'd worth giving it a shot and have John Doe on the line. And boy howdy, ain't he wildin' right now with his business.
Some say every Nike you see there's 1/3 chance it's straight outta Putian, some say Nike's LC works by handling a pair of dumb shoes to an uninformed factory worker and have him say "fuck kinda shoes are these, looks cool I guess so it's legit?" The only way is to really tear down the whole sneaker and see the markings in UV, and once we're on the point where we can fake inside tags and its barcodes, ask yourself can call out fakes on feet?
A promotion for \"discount\" NB's on Weibo
Ever seen promos like these?
It's what I saw on Weibo today, and you've seen one like it yourself did you? They all look good on the images and you'd be right that they're photos of the real deal, just that of course the shoes you actually get were reps, and for each pair profits are never above ¥100; I sell ya an NB for ¥165, I'd only make ¥50.

REPLICA SNEAKERS: HOW DO THEY GET SOLD?

TAOBAO
Taobao has always been the single biggest hub for BST. Run by the faceless middlemen, sold by the page visits, and reviewed by the bots. And stores with inflated trust scores were used as a front, once costing hundreds of yuan to buy now go for the tens of thousands. As Taobao is taking action to curb counterfeits to make way for legitimate resellers, these fronts are getting more expensive by the day, since then people took it to WeChat later on.
Ask anyone who ran a Taobao store, and they'd tell you "you'll never make a cent unless you're selling fakes". A pair of (fake) shoes take some ¥100 to make, and can be sold as a legit like the thousands of yuan you see on their listings, you'd get away with dozens of fakes sold this way, where you can properly guage and adjust said price to match your profit margins. Once the rep game got popular and the snowball kept rolling, the problem got too big for Ma Yun to not ignore it and he went full banhammer on every rep seller. With every media outlet roasting Taobao's ass, everyone wises up to the knowledge that almost every sneaker you see could be fakes. The stigma lived on, and no one would touch any store where its place of origin writes "Putian".
When life gives you lemons, you make a whole damn lemonade stand and just circumvent the whole damn thing by appearing that you're not from Putian. Problem solved. As you check your shipping details, it always seems to travel from Shangai, Shenzen, Quanzhou or even goddamn Xiamen of all places, even overseas.

Proxy services are very popular due to China's stringent laws
When sneakers are labeled as being shipped from Hong Kong, of course the sellers gonna say "it's from Hong Kong" but in fact it's shipping from Shenzhen, and the seller's excuse is that the sneakers are going through HK's borders from Shenzen then to the buyer's location. Even if you bought fakes in Tmall however, it won't be as bad as the ones sold as legit retails in Taobao. There's just too many of these rip-offs anyway! Had a reseller came to me to buy 10 pairs of sneakers, I make ¥10 each pair, but he sold it as retails and went on to make ¥500 each. Of course I'd panicked a jacked a prices a bit so I could have my own slice of extra profit to ¥20 each pair, said the factories jacked the prices themselves as an excuse.
Hoe's mad I guess

WECHAT
While profit margins are no higher than Taobao, they still range around a dozen yuan on bulk. For all the actual friends I have in WeChat, I'd never believe them not having owned a replica sneaker in their whole life, blah blah blah "factory direct", "wholesale prices" my ass, who really can head to the factories and buy direct these days? Rep resellers buying bulk from those factories are truly the "direct from factory" purchases. Resellers then selling the reps to middlemen and agents, that's another step. Said middlemen then resell these reps to quote-on-quote "middlemen". (NB: may have been the very resellers we see on the sub) And it goes on and on and then, to you, the customer.The so-called A-grade reps you see on WC, let's say we buy it from the factory at ¥200 (for example, the real deal won't be this cheap) and sell to the end-user for ¥400~¥500, it does in fact look decent. Heck, retails may get "called out" in forums and reps may sneak under the radar. Chat and forum opinions aren't good indicatiors for a rep's actual quality. Thus you may wonder why buy retails at this point? No one would really hit the New Balance outlets at their local Wanda mall and ask the teeny-bop promoter lady if their kicks are legit anyway, so wouldn't this been the dream job you've wanted, right?
SMALL-TIME AGENTS
These sort of agents are mostly handling orders from overseas to cater the westerners, mainly Russian, SE-Asian, North/South American countries etc., and will never be some solo project as they always come in groups of a few dozen staff members. These agent groups can also hire decently well-spoken college students to help converse customers in English and pay them good pocket change, which is eerily similar to how Forex scams work before, but this time they're doing legit businesses for a change. Sort of.
FREELANCE AGENTS
The most common agent you may come across can be your close friends, they get instant payouts for attracting their local classmates to collect orders for reps, and this wannabe hustler reports them back to the resellers to ship to school dorms directly.

REPLICA BUILD AND QUALITY

Replicas reach far, far and wide. You could see your neighborhood cleaner aunt wearing 990v4s, motorbike taxi riders wearing Duck Camo AM90's, your kind old uncle next door exercising in Flyknit Racers and so on. NB, Nike, Converse, Ascis, Kappa; any brand you wanted they got it. ¥100 to ¥500 is what the factories charge, but after it hits resellers with a ¥200 hike, the illusion what seems to be a shoe that'll last breaks down as it wears out after a few wears. Bad stitching? Poorly-tumbled faux-leather? Off-moulded shape? I'd believe you but you sure you can tell if the EVA is fake by just looking on it? Is the gluing pattern underneath it visible even? A good deal of local boutiques sell ¥120 replicas at official retail prices like ¥599, a good ¥400 profit.
Putian factories are split into "heavy" and "light" industries. The heavy industries builds the sneaker as a whole from scratch, while the light industries were like CKD vehicles, where parts are purchased and assembled together instead. and quality of each part of the sneaker depends among factories. Lots of them try to cut corners to save every extra cent, which explains the decreasing quality of recent sneakers you see now. Larger factories has always been delivering consistently decent sneakers, as customers who contacted them are much picker and won't slash prices along with quality out of the blue. The stitching (and Nike Air units/Boost soles even!) is close enough to pass off as retails. Some of the more badass factories can make a batch of 100 brand new replicas for you, just hand in a donor retail pair and they'll get to work.The old dogs in Putian has been around for ages, runs most of the resellers you know and love. They buy reps from the factory direct at ¥140, sell to resellers at ¥160 and have the resellers push ¥180, at these prices the shoes are just not enough to satisfy demand. I've gave it an estimate if the factory got his order to 30 dozen pairs of reps, with each pair a ¥20 profit, we're looking at ¥7,000 a day or ¥20,000 a month in gross profit.
Of course, the Sales and Commerce Assoc. will still take a heavy hand on counterfeit sneakers till today, basically a few sellers every month get caught in the counterfeit business. The offenders walk into the office, sit down, had "the talk" yet again and pay a good ¥30k~¥50k fine and had their licenses taken away, for just awhile. Factories themselves get raided very seldom, maybe a every 6 months only a single factory gets caught per year. Putian has become the leading worldwide repsneaker operation for the entire world, and outputs around 50% the actual worldwide sneaker market, an estimated ¥20bn yearly. The Nikes and Adidases you wear now has an "OEM" for that. You may have bought a brand sneaker [in China], but it may very well be a fake regardless, to be fair the quality itself is indistinguishable anyway.

REPSNEAKER GRADES

1) The Standard Putian's cheapest offering, pretty much trash tier and a certain Taobao sells them the most often :^)
2) The GET Batch A huge improvement from the Standards, and the so-called 1:1 batch from the mouths of others. It's really not, some of the materials itself is not as fine or accurate as the real deal. Tmall often sells these batches, but often get sold as retails.
3) The 1:1 The absolute tip of the high-end replicas. Take it to HuPu.com and only the eagle-eyed few would call you out. Not everyone can get their hands on them, regardless of price. [eg: similar situation to UABat's Union AJ1's]
4) The Retail Nuff said, just retails. (But really, reps cost just 1/5 of the retail price, why bother lol?)
A snapshot of KFC6855's wares

HOW TO TELL FAKES

[The author essentially details how to LC NB998's, so this is best skipped as it adds nothing to the article other than repeating the author's point over and over.]

THE REPSNEAKER FUTURE

If you ever think replica sneakers will only remain within the hypebeast sporty trainer radar, oh you'd be surprised. The replica factories are on full steam, churning out Dr. Martens, UGGS, Tod's and a lot more to come. If you're interested, my WeChat: KFC6855 has them on sale right now, guaranteed to keep ya comfy this winter.

With all that said, I hope you learnt something from this, and now that you know if you really wanted a retail pair to sleep well at night, just don't get 'em in online stores. There's no glitz and glamor selling counterfeit sneakers, it's just business after all.
If you know, you know.

submitted by TeddyTheEspurr to Repsneakers [link] [comments]

Four reasons for buying yen. Forecast for 16.09.20

Four reasons for buying yen. Forecast for 16.09.20
Ahead of the Fed’s and Bank of Japan’s meetings, the Japanese yen is certainly worth discussing. Enjoy your popcorn and remember to check out the trading signals and trading plan for USDJPY and EURJPY for the nearest weeks at the end of this article.

Fundamental forecast for yen for today

Yoshihide Suga’s unconditional victory in the party race to become Japan’s next Prime Minister, the US-China trade war’s revival and the upcoming presidential elections in the USA redrew investors’ attention to the yen. USDJPY’s quotes have been falling for three days in a row and got close to the level of 105. Rumour has it that the Bank of Japan may get angry and intervene if that level is broken. The situation around EURJPY is interesting too.
If Shinzo Abe’s dismissal shocked the financial markets, the information about Yoshihide Suga’s appointment calmed them down. Let me remind you that Yoshihide Suga is Abe’s supporter and one of the authors of the “three arrows” strategy. The new Prime Minister isn’t going to put pressure on the BoJ in order to change monetary policy. He believes that there’s no need to raise taxes in the next 10 years, and that economic growth must improve the country’s financial state. He plans to shake up some sectors and bureaucratic mechanisms, but at the beginning of his term, he’ll need to recover GDP.
A clear political context is a boon for a national currency. The fact that Japan chose its PM, while the US has yet to choose its president, is beneficial to USDJPY bears. Still, their main trump is the divergence in the Fed’s and BoJ’s policies: the Fed’s response to recession was so fierce that the fall of the real US bond yields weakened the greenback and would probably continue weakening it.

Dynamics of US bond yields


Source: Wall Street Journal.
The yen is growing on the WTO’s ruling that US tariffs on Chinese imports are illegal. Beijing approved of that. Washington got angry. I doubt that the conflict will escalate before the elections. However, it’s obvious that the trade war is a long-lasting subject no matter who takes the US president’s chair. In 2019, global investors thought it was the main factor in market pricing. In 2020, the trade war dropped to the 4th line: the pandemic, November’s US elections and payment default risks have become the number one priority topics.
I think the trade war subject has been undeservedly neglected. During a pandemic, imports and exports usually reduce proportionally, and the trade balance remains unchanged. It’s true of Canada, Japan, Britain and Germany. Alas, the US foreign trade deficit is growing and the Chinese one is reducing. China’s industrial sectors are recovering faster, and Beijing may face another round of clashes after the US election.

Industrial production dynamics


Source: Bloomberg.

Weekly trading plan for USDJPY and EURJPY

Trading wars were favourable to the yen in 2018-2019, but its fans have other advantages this time too. I don’t think the BoJ will interfere if USDJPY breaks support at 105. So, we can open short positions. Opening shorts in EURJPY at the breakout of 124.6-124.65 looks interesting too.
For more information follow the link to the website of the LiteForex
https://www.liteforex.com/blog/analysts-opinions/four-reasons-for-buying-yen-forecast-as-of-160920/ ?uid=285861726&cid=62423
submitted by Maxvelgus to Finance_analytics [link] [comments]

Another day, Another issue submitting an order on MT4..

So I'm trying to submit a Market Sell order. ping ping ping Won't let me submit an order and on mobile it keeps giving me a requote (I'm using IG). Pair is AUDCAD today.
Nothing else showing up and I can't find info on Google. What in the hell is going on?
Edit: Able to submit same exact order no problem on EagleFX demo
submitted by bushysmalls to Forex [link] [comments]

USD bears beat a retreat after FOMC minutes

Saxo Bank




submitted by Altruistic_Camel to econmonitor [link] [comments]

ECN Brokers - How Does Forex Trading through ECN Work?

ECN Brokers - How Does Forex Trading through ECN Work?

Top ECN Brokers
ECN brokers (Electronic Communication Network brokers) are amongst the fastest emerging brokerages in the Forex world. Also, there's no question that brand-new ECN brokers are opening their doors consistently. In short, ECN Forex brokers offer a market where traders and market makers can position competing quotes versus each other. Minimum deposits for ECN accounts are commonly more excellent than they are with standard Forex accounts. Still, there are some substantial benefits offered by the ideal ECN brokers, such as the capability for scalping as well as reduced spreads.
With many eye-catching options to choose from, choosing between various ECN broker's List can be surprisingly challenging. Intensifying the decision is the truth that several typical brokers offer ECN Forex brokers and their regular trading accounts, which widens your swimming pool of alternatives.
To make your decision simpler, we have compared essential aspects of some of the top ECN brokers to offer you a beginning factor in your look for the best ECN brokers List.
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submitted by ECNBrokers9 to u/ECNBrokers9 [link] [comments]

Off how to put money in the stock market Abreu blocos cost $3.00

Off how to put money in the stock market Abreu blocos cost $3.00
By MATT LEE Updated Mar 7, 2020
Investors can trade almost any currency in the world through foreign exchange (forex). In order to make money in forex, you should be aware that you are taking on a speculative risk. In essence, you are betting that the value of one currency will increase relative to another. The expected return of currency trading is similar to the money market and lower than stocks or bonds. However, it is possible to increase both returns and risk by using leverage. Currency trading is generally more profitable for active traders than passive investors.

KEY TAKEAWAYS

  • It is possible to make money trading money when the prices of foreign currencies rise and fall.
  • Currencies are traded in pairs.
  • Buying and selling currency can be very profitable for active traders because of low trading costs, diverse markets, and the availability of high leverage.
  • Exchanging currency is not a good way for passive investors to make money.
  • It is easy to get started trading money at many large brokerages and specialized forex brokers.

Buying and Selling Currency Explained

It is important to note that currencies are traded and priced in pairs. For example, you may have seen a currency quote for a EUUSD pair of 1.1256. In this example, the base currency is the euro. The U.S. dollar is the quote currency.
In all currency quote cases, the base currency is worth one unit. The quoted currency is the amount of currency that one unit of the base currency can buy. Based on our previous example, all that means is that one euro can buy 1.1256 U.S. dollars. An investor can make money in forex by appreciation in the value of the quoted currency or by a decrease in value of the base currency.
https://preview.redd.it/6aqspn49zjj51.jpg?width=589&format=pjpg&auto=webp&s=9ea0ac7404e644c3d74d404a63faca1c20f6ea04
Another perspective on currency trading comes from considering the position an investor is taking on each currency pair. The base currency can be thought of as a short position because you are "selling" the base currency to purchase the quoted currency. In turn, the quoted currency can be seen as a long position on the currency pair.
In our example above, we see that one euro can purchase $1.1256 and vice versa. To buy the euros, the investor must first go short on the U.S. dollar to go long on the euro. To make money on this investment, the investor will have to sell back the euros when their value appreciates relative to the U.S. dollar.
For instance, let's assume the value of the euro appreciates to $1.1266. On a lot of 100,000 euros, the investor would gain $100 ($112,660 - $112,560) if they sold the euros at this exchange rate. Conversely, if the EUUSD exchange rate fell from $1.1256 to $1.1246, then the investor would lose $100 ($112,460 - $112,560).
submitted by SeniorPie3217 to u/SeniorPie3217 [link] [comments]

Off how to put money in the stock market Abreu blocos cost $3.00

By MATT LEE Updated Mar 7, 2020
Investors can trade almost any currency in the world through foreign exchange (forex). In order to make money in forex, you should be aware that you are taking on a speculative risk. In essence, you are betting that the value of one currency will increase relative to another. The expected return of currency trading is similar to the money market and lower than stocks or bonds. However, it is possible to increase both returns and risk by using leverage. Currency trading is generally more profitable for active traders than passive investors.

KEY TAKEAWAYS

Buying and Selling Currency Explained

It is important to note that currencies are traded and priced in pairs. For example, you may have seen a currency quote for a EUUSD pair of 1.1256. In this example, the base currency is the euro. The U.S. dollar is the quote currency.
In all currency quote cases, the base currency is worth one unit. The quoted currency is the amount of currency that one unit of the base currency can buy. Based on our previous example, all that means is that one euro can buy 1.1256 U.S. dollars. An investor can make money in forex by appreciation in the value of the quoted currency or by a decrease in value of the base currency.
Another perspective on currency trading comes from considering the position an investor is taking on each currency pair. The base currency can be thought of as a short position because you are "selling" the base currency to purchase the quoted currency. In turn, the quoted currency can be seen as a long position on the currency pair.
In our example above, we see that one euro can purchase $1.1256 and vice versa. To buy the euros, the investor must first go short on the U.S. dollar to go long on the euro. To make money on this investment, the investor will have to sell back the euros when their value appreciates relative to the U.S. dollar.
For instance, let's assume the value of the euro appreciates to $1.1266. On a lot of 100,000 euros, the investor would gain $100 ($112,660 - $112,560) if they sold the euros at this exchange rate. Conversely, if the EUUSD exchange rate fell from $1.1256 to $1.1246, then the investor would lose $100 ($112,460 - $112,560).
submitted by SeniorPie3217 to u/SeniorPie3217 [link] [comments]

Taking advantage of market inefficiencies - Jubilee Ace

Taking advantage of market inefficiencies - Jubilee Ace
When it comes to economic theory, trading on financial markets is bound by the Efficient Markets Hypothesis. It suggests that markets will process all available information about asset values and prices efficiently and quickly in such a way that there will be little if any room for price discrepancies across markets, and that prices will move soon toward equilibrium levels.
While this theory indeed works, traders have found that markets have not shown themselves to be 100% efficient at all times due to asymmetric information between buyers and sellers.
One such occasion of market inefficiency is when one exchange’s ask price is lower than another exchange’s bid price, also known as a “negative spread.” For instance, this may happen when one exchange quotes a particular amount for a currency, while another exchange is referencing a different price.

Jubilee Ace
“When a situation like this arises, forex traders can make a quick profit by simultaneously executing a purchase from the first exchange and a sale to the other exchange. In essence, the trader begins the trade in a situation of profit, rather than having to wait for a favorable evolution of market trends,” says Tony Jackson, Chief Executive Officer of Jubilee Ace, an arbitrage trading platform.
These situations tend to occur more often in periods of market volatility. They can also arise because of price quote errors, failure to update old quotes (stale quotes) in the trading system or situations where institutional market participants are seeking to cover their clients’ outstanding positions.
“Arbitrage benefits the most when there is high volatility. The volatility enables more opportunities for gaps in asset pricing and thus creating more arbitrage contingencies for traders,” says Jackson. “Arbitrage can help traders increase their profitability even during unstable markets,” he added.
submitted by myaquajubileeace to u/myaquajubileeace [link] [comments]

Global Financial Markets: Habits of Good Traders and Bad Traders [Part 1]

Global Financial Markets: Habits of Good Traders and Bad Traders [Part 1]
The Internet has created opportunity of easy access to the Global Financial Markets. Everyone who desires to learn and earn can now trade in the Global Financial Markets, irrespective of their location around the world without discrimination. What used to be the secret investment opportunity for the rich and privileged few, has now become an open marketplace through digital platforms made accessible on mobile phones, portable tablets and laptops. Therefore, as Internet connectivity and broadband access continues to penetrate into every remote corners of the globe, the awareness of Global Financial Markets commonly referred to as FOREX TRADING, will continue to soar!
According to Ian H. Giddy, Stern School of Business, New York University “The global financial markets include the market for foreign exchange, such as the Eurocurrency and related money markets, the international capital markets, notably the Eurobond and global equity markets, the commodity market and last but not least, the markets for forward contracts, options, swaps and other derivatives”. Simply put, the Global Financial Markets is a virtual platform for online trading of Currencies of countries at the International Foreign Exchange Rate, as it is done real time between Banks, Large Corporations, Investment Firms, Hedge Funds and Private Equity Portfolio managers. These are the big players, usually called the Market Makers. These Market Makers are high value and high volume traders that account for over 90% of the 5 trillion dollars worth of trading done everyday for 24 hours throughout the 5 working days of the week. The participation of Individual Traders called Retail Traders in the Global Financial Markets is only possible through a registered and verified account on the trading platform of licensed and regulated Brokers like in the Stock Exchange industry.
While the sound of participating in an open market valued at over 5 trillion dollars per day, sounds attractive and inspiring; very few Individual Traders have successfully earned profits from the Global Financial Markets consistently. In many instances, the odds are usually against the Individual Traders due to the numerous cycles of events and uncertainties that influence Global Economy and Trade relationships between countries of the world which directly or indirectly affect the sentiments of buyers and sellers of the currency of countries against others.
While many may assume that making profit in the Global Financial Markets is just as simple as clicking BUY or SELL buttons on the Broker’s trading platform, the few successful traders know that there are a lot more to learn and apply. Like everything in life, learning by doing is the best way to winning the trophy. Fairly enough, all Forex Brokers in the Global Financial Markets provide demo accounts with virtual money to help traders learn and practice before investing their real money. Unfortunately, due to the habit of indiscipline, many traders are usually impatient in learning and often allow greed to push them to rush into live trading without developing the necessary skills and habits that will guarantee consistent profit and successful trading career.

“Discipline is the ultimate secret of Distinction. What makes the difference between Good and Bad Traders is Self-Discipline!”


[Image Source: https://trading-education.com/101-inspirational-trading-quotes-and-what-they-mean]
The only Broker that I have personally observed to be committed to helping Individual Traders develop Self-Discipline and Expertise through continuous Education and Enforcement of Self-Discipline is Olymp Trade [www.olymptrade.com]. The Broker enforces self-discipline through an automated Trade Limit which is triggered when an Individual Trader begins to take reckless risks with their hard-earned money in search for dangerous profits. Many inexperienced traders hate this trade limit control, but the good, expert traders openly appreciate Olymp Trade for helping them to develop the Self-Discipline habit.
With the implementation of the Trade Limit rule, Olymp Trade has helped many of her Individual traders to learn the self-discipline habit. This has given a higher percentage of beginners or novice traders the golden opportunity to become an expert trader and earn profit consistently over time, while they avoid the common pitfalls that destroy many who trade with other brokers without the Trade Limit feature on their platform.

[Image Source: https://trading-education.com/101-inspirational-trading-quotes-and-what-they-mean]
In conclusion, while this article emphasized that Self-Discipline is the main difference between good traders and bad traders, there are other habits of good traders that will be explained in subsequent articles coming soon in this series.
Thanks for reading and adding your own comment to this article.
References
Ian H. Giddy: The Global Financial Markets.
[http://people.stern.nyu.edu/igiddy/gfm.htm#:~:text=The%20global%20financial%20markets%20include,options%2C%20swaps%20and%20other%20derivatives]
submitted by MxLawal to u/MxLawal [link] [comments]

Forecast for XAU/USD: Gold churns out records

Forecast for XAU/USD: Gold churns out records

Fundamental forecast for gold for today

Precious metal climbed too high

It’s done! What gold bugs had been dreaming about for decades happened: the price has reached a level of $2,000 per ounce. The weakness of the US dollar, the fall of the 10-year U.S. Bond yield to unbelievable minus 1%, and unstoppable growth of ETF reserves did their work. Meanwhile, gold bugs grew much older: according to JP Morgan’s research, the precious metal is usually bought by aged investors, while young traders prefer Bitcoin or high-tech stocks.
Many may find it surprising that gold is growing amidst the rally of US stock indexes. That often happens during recessions, though: enormous volumes of central banks’ cheap liquidity allow investors to build up long positions in risky and reliable assets. What’s more, the market prefers precious metals when it’s unsure about GDP’s recovery.

S&P 500’s and gold’s evolutions

Source: Trading Economics
Even if gold climbed high, there are still a lot of bullish forecasts: Goldman Sachs believes that the prices may go up to $2300 per ounce because investors are looking for a new reserve currency; RBC Capital Markets projects a level of $3,000.
XAU/USD bulls may have succeeded because the recession didn’t follow the 2007-2009 scenario. Then, the Fed’s monetary stimuli were enough for getting the economy back to the trend; now, it’s unclear. Then, the USD was growing as the US GDP’s recovery rate was faster than its global peers’ one; now, it’s falling amidst the economic divergence of growth. Then, the idea that inflation would speed up amidst increased money supply failed; now, it’s still alive. The difference between then and now allows us to say that gold hasn’t stop rallying yet.
The best scenario for gold would be a W-shape recovery of the US economy. It implies extending monetary and fiscal stimuli, further weakening the USD, and a drop in real US bond yields. However, a V-shape recovery of GDP will allow XAU/USD quotes to grow too. A long-term downtrend of the USD index is doubtless. At the same time, the Fed makes it clear that it’s ready to tolerate high inflation, which will raise the bond market rates.

Gold and expected inflation dynamics

Source: Wall Street Journal
The second coronavirus wave in Europe is the main factor in the development of the bullish scenario for gold. Under this scenario, the euro will fall, the USD index will grow and will probably continue growing as the divergence of economic growth will benefit the USA. That scenario is unlikely to happen. So, hold your long positions formed at $1820-1825 per ounce and build them up during retracements. XAU/USD may correct on the Congress’s approval of a new fiscal relief package and strong stats on the US labor market.
For more information follow the link to the website of the LiteForex
https://www.liteforex.com/blog/analysts-opinions/forecast-for-xauusd-gold-churns-out-records/ ?uid=285861726&cid=79634
submitted by Maxvelgus to Finance_analytics [link] [comments]

Best setup for 500,- account.

Hi, I'm new to daytrading and i have a few questions. I'm from the netherlands btw so not US based. 1. What is the best platform+broker for a +/-500,- account? I really dont want to spend too much on monthly costs and fee's, but i do need a good platform with level 2 quotes, real time america stocks data and customisable charts. If this has already been asked, can someone please send the link to the post?
  1. What is the best way to papertrade on the stock market? (For stocks between 1-10 euro's) I tried some, but some platforms have 15m delay, and not reliable level 2 quotes. And others don't have the data feed i need. For example ninjatrader only has forex or future papertrading data feed. But I do like the platform.
Thanks in advance.
submitted by skinnypenix to Daytrading [link] [comments]

Things you need to know about MT5

Things you need to know about MT5
If you have been involved in online trading for some time, chances are you have used the MT5 software.
Even if you are new to online trading, I am sure you have heard about MT5 from more experienced traders in your network.
But the platform isn’t just popular for no reason. Both traders and brokers find it useful because:
  1. It has impressive functionalities that you can’t get on any other platform
  2. It is openly available to all brokers and traders.
However, that is not all there is to MT5. So this post will be looking at some exciting things about MetaTrader 5, including:
  • Its features
  • The types of account it offers
  • Basic terms every professional trader should know
Before we delve into highlighting the features, let’s look at what MetaTrader 5 really is.
So what is MT5?
MetaTrader is a multi-asset platform that offers traders the tools to trade forex, stocks, and futures.
The first version of the software, MT4, was created in 2005 by MetaQuotes Software Corporation. The second version, MT5, was released in 2010 to offer more functionalities and better trading experience to users and brokers.
With the history out of the way, let’s look at the features that make MT5 the software of choice for most brokers and traders.
5 features of MT5 that make it the market leader
  • Multi-asset trading platform
  • Automated trades to test trading strategies
  • Automated bots by experts
  • Hedging and netting allowed
  • 21 time-frames — from minutes to years
The 3 types of MT5 accounts available on Deriv.com
One of the things that have made MT5 very popular is its open-source nature. This has allowed different brokers to integrate it into their respective trading platform.
But at Deriv.com, we didn’t just integrate MT5 into our platform.
We blended the powerful functionalities of the MT5 with our experience as pioneers in the online trading industry and we call it — DMT5 an all-in-one forex and CFD trading platform.
When you trade with DMT5, you have the option to choose from three different account types, each designed to appeal to traders with varying styles of trading and experience.
The three account types are explained in the images below.

Types of DMT5 account

DMT5 Accounts
It is worthy to note that synthetic indices are only available to Deriv.com traders and can be traded even on weekends.
Another point to note is that while Deriv.com created the synthetic indices algorithm, the market mimics the real-world financial market.
Lastly, let’s look at some of the terms that you should know if you want to succeed in online trading.
Basic terms every professional trader should know
1. Leverage
Leverage gives you the ability to trade a larger position using your existing capital.
2. Order execution
There are two types of order execution: instant execution and market execution.
Instant execution places your order at the price available at that time. Requotes are possible only if the price fluctuates by a lot before the execution of the order is completed.
Market execution allows you to place an order at the broker’s price. The price is agreed upon in advance, there are no requotes.
3. Spread
A ‘spread’ is the difference between the buy and sell prices. A fixed spread is subject to changes at the company’s absolute discretion, whereas a variable spread means that the spread is constantly changing. A fixed spread is not affected by market conditions, a variable spread depends on market conditions.
4. Commission
Brokers usually charge a commission for each trade that is placed. Deriv.com, however, charges no commission across all account types, except cryptocurrencies.
5. Margin call
Your account is placed under margin call when the funds in your account are unable to cover the leverage or margin requirement. To prevent a margin call from escalating to a stop out level, close any open positions, or deposit additional funds into your account.
6. Stop out level
Your account will reach the stop out level where it will be unable to sustain any open positions if it has been under margin call for an extended period of time. This will lead to all pending orders being canceled and open positions being closed forcibly (also known as “forced liquidation”).
7. Cryptocurrency trading
Indicates the availability of cryptocurrency trading on a particular account.
These are the basic things you should know about MT5. If you are new to online trading, we highly recommend you read the following posts:
https://medium.com/@derivdotcom/things-you-need-to-know-about-mt5-961b2665a4fb
submitted by justvisuals to Mt5 [link] [comments]

Exchange Rates (Forex - Direct & Indirect Quotes)  CA ... The ULTIMATE Forex Trading Course for Beginners - YouTube Forex Trading for Beginners - YouTube Key concepts: currencies, quotes, spread Forex Quotes Explained - YouTube

As part of TC2000, FreeStockCharts offers great charts, stock market quotes for US stocks and options, dozens of the most popular indicators, options chains and even free demo account for practice. Unfortunately, real-time stock market quotes and upgraded feeds are available only in the paid version. Free users still get delayed streaming data. Live forex quotes to find out exactly where currencies last traded in the interbank market. Live rates will help you trade the forex market in real-time or exchange currencies in the market place. Trading is a lot like riding a roller coaster. Although it obviously is fun and exciting, there will be times when you feel scared, nervous or even powerless. When these bad times come, it's important to not panic or give up. One excellent thing to do during these troubling times is read some motivational quotes from traders who have been in your shoes and know the path to success. Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price (the quote), it is essential to develop a sound ... Today's Forex Market Overview and popular Cross Rates with free Foreign Exchange Quotes, Forex Rates, Forex Charts.

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Ready to start trading the Forex market? Click this link to see a live trading session: https://goo.gl/MmEasr. If you want to learn more about Forex quotes, ... This video will introduce you to the key concepts of the forex market, such as a currency, quote, and spread. You are going to face these instruments at the initial stages of operating on the ... If you're new to Forex trading, have less than a year of experience, or you want to learn more about Forex markets, then this course is for you. ** FREE TRAD... Forex trading quotes http://need-goods.com/forex Aqui você pessoalmente sem dúvida ser contou sobre top 3 forex trading apps. Adicional aqui agora disponível... We simplify your financial learnings. Subscribe here to learn more of Strategic Financial Management: https://goo.gl/HTY5SN CA Final SFM Fast Track Course:...

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