Top 10 Best Forex Brokers 2020

8 Ways to Get the Best Forex Deal

8 Ways to Get the Best Forex Deal
I remember the problem which I faced prior to my first international trip – buying foreign currency. I went to the heart of my city to look for a Forex service provider which would sell me the foreign currency I was looking for at a fair price. More than two hours in the market and I had to settle for a rate which left me feeling cheated.
It has been five years since that episode. Today, my least concern before a foreign trip is to get foreign currency. Whether it is for studying abroad, international travel, or working outside the country, we all want to get the best Forex deals for our foreign visitors. Following is a list comprising of eight ways to get the best Forex deal:

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1.Purchase Online –
Do you know the reason why you get more discount on e-commerce websites than in a shopping mall? That’s right. E-commerce websites have online stores, which saves them a lot of money. Being online, not offline, means that they offer their potential customers not only the means to purchase from the comfort of their home, but also help them save time and energy. Tei Forex is the only completely-online Forex service provider company in India.
2. Compare –
It is funny that we tend to compare rates for the smallest of groceries, but refrain from doing the comparison when it comes to Foreign Exchange. Not all Forex vendors offer the best exchange rates. For buying foreign currency, Tei Forex is a premium Forex company which assures the best foreign exchange rates. Simply go through their websites or call them to get the rates and do the comparison. It may take a little extra time, but it can save you thousands.
3. Don’t leave it for the last moment –
Although Tei forex delivers a prepaid Forex card within 24-48 hours (excluding holidays), it is better to order your prepaid travel card at least five days in advance. In case if you speculate that the ordered currency rate will go down, don’t worry. Order your international travel card well in advance with the bare minimum amount. You can later reload it when the rate falls.
4. Look for offers –
Though a majority of vendors simply want to make as much money as possible from their customers, there are a few vendors which belief in customer satisfaction. Tei Forex does not only assure the best currency exchange rates, but also provides two free ATM withdrawals per month. They also provide round-the-clock customer support.
5. Don’t fall for unbelievable offers –
Getting an offer is one thing, but getting an unbelievable offer is another. Rule of thumb tells us that if an offer is too good to be true, it most likely is. Some companies adopt marketing gimmicks or unethical means to woo their customers.
6. Negotiate –
If you ask for something, you will get a ‘yes’ or a ‘no’. If it is a no, it would not really matter, but if it is a yes, good for you. While the banks will not entertain you if you try to negotiate with them, Forex vendors might. If you find a better exchange rate for the currency you are looking for, inform the other Forex vendors. To convert you as their customer, they might as well challenge that price and offer you a better exchange rate.
7. Avoid the Forex vendors at the airports –
Rarely will you find a good Forex rate from the airport currency exchange vendors. Whether you have just arrived or are about to leave, airport Forex vendors are the last place you should consider buying or selling your Forex, as their rates are exorbitant. At the time of arrival, if you don’t have any cash in the local currency, just exchange enough to pay for the hotel transfer. If you are leaving, exchange the excess money before arriving at the airport. Whatever purchases you would want to make at the airport can be done using your Tei Forex prepaid Forex card.
  1. Avoid using your Debit or Credit card –
Using your debit or credit card in a foreign country may seem really convenient, but it can be really costly. Banks are known to charge up to 6.5% as fees on the use of their debit or credit card internationally. And more often than not, the charges are not just levied by your bank, but by the ATM’s bank as well. Banks may even try to lure you by offering you with free insurance or travel discounts. In that case, read point #5 again.
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How we can Exchange INR with Euro online?

How we can Exchange INR with Euro online?
Currency exchange has become an easier task with online currency exchange sites. Bookmyforex.com is one such site that lets INR exchange with Euro in a hassle free way. You can get the best rate and deal in Euro currency exchange from the site. Bookmyforex.com compares rates of hundreds of banks and moneychangers only to provide you with the best rate.
You can freeze a rate for up to 3 days with the site. If the rate is low, it'll benefit you in your exchange. Bookmyforex.com gives you notification alerts for the best rate possible. When you get an alert, you can simply freeze the rate to use it later. Multiple tie-ups with banks ensure that you get the best deal possible.
Banks can provide you with best rates but those rates can fluctuate according to market conditions. Banks also levy fees and other extra costs for the exchange of currency. Even if you get a low rate of exchange, there'll be service charge and transaction fees that you might have to pay.

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Forex cards are also an option and it empowers you when you travel abroad. Forex cards help you to eliminate currency exchange charges by up to 3 to 4%. You can also get a Forex card from Bookmyforex.com for best Forex deals.
If you think that airport kiosks will offer you the best deals in exchange then this is not true. Exchanging money from the airport will cost you more; there are many hidden charges on airport exchange kiosks.
The best way to exchange your currency is through online exchange sites. Bookmyforex.com is the Best Euro exchanger. There are no fee or exchange costs by the site if you exchange online. You can save a lot of money exchanging Euro currency from the site.
Bookmyforex.com provides you with the transparent and live rate for exchange of Euro currency. You can freeze in the rate according to your flexibility. The process of exchange is also easy. Just choose your amount and rate for the transfer and you are sorted. Online exchange of currency is way better than banks and airport kiosks.
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Ways to Get the Best Forex Rates Deal On BookMyForex

Ways to Get the Best Forex Rates Deal On BookMyForex submitted by ankitasharmaa to u/ankitasharmaa [link] [comments]

Best forex website Theme & Plugins for WordPress Sites Dealing With Stocks & Forex

Best forex website Theme & Plugins for WordPress Sites Dealing With Stocks & Forex submitted by WorldofWordPress to WorldofWordPress [link] [comments]

[META] Weekly Writers Thread - May 22, 2020

Please use this thread to advertise your services. This is only for academic writing related posts, and/or for writers with no online portfolio. Make sure you mention your rate in the form of $ or any currency symbol.
Other Hire Me posts, can still make separate posts. A new thread should auto-post every Friday (8 am EST). You can also post general discussion here.
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Dominic Longpre Forex || Best Expertise in Real Estate Deals

Dominic Longpre best real estate consultant in Canada. He has lots of experience in this field. Be updates if you really want to make a bright future in real estate market. Dominic Longpre here to help you. His blogs and videos really inspire people as well as also beware common people before investing in any kind of real estate deal.
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H1 Backtest of ParallaxFX's BBStoch system

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

Background

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

System Details

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

And now for the fun. Results!

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

A Note on Spread

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

Time of Day

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

Moving stops up to breakeven

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

2-Candle vs Confirmation Candle Stops

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

Correlated Trades

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

What I will trade

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

Other Technical Details

Raw Data

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

Insanely detailed spreadsheet notes

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

Pairs

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

TL;DR

Based on the reasonable rules I discovered in this backtest:
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Everything You Always Wanted To Know About Swaps* (*But Were Afraid To Ask)

Hello, dummies
It's your old pal, Fuzzy.
As I'm sure you've all noticed, a lot of the stuff that gets posted here is - to put it delicately - fucking ridiculous. More backwards-ass shit gets posted to wallstreetbets than you'd see on a Westboro Baptist community message board. I mean, I had a look at the daily thread yesterday and..... yeesh. I know, I know. We all make like the divine Laura Dern circa 1992 on the daily and stick our hands deep into this steaming heap of shit to find the nuggets of valuable and/or hilarious information within (thanks for reading, BTW). I agree. I love it just the way it is too. That's what makes WSB great.
What I'm getting at is that a lot of the stuff that gets posted here - notwithstanding it being funny or interesting - is just... wrong. Like, fucking your cousin wrong. And to be clear, I mean the fucking your *first* cousin kinda wrong, before my Southerners in the back get all het up (simmer down, Billy Ray - I know Mabel's twice removed on your grand-sister's side). Truly, I try to let it slide. I do my bit to try and put you on the right path. Most of the time, I sleep easy no matter how badly I've seen someone explain what a bank liquidity crisis is. But out of all of those tens of thousands of misguided, autistic attempts at understanding the world of high finance, one thing gets so consistently - so *emphatically* - fucked up and misunderstood by you retards that last night I felt obligated at the end of a long work day to pull together this edition of Finance with Fuzzy just for you. It's so serious I'm not even going to make a u/pokimane gag. Have you guessed what it is yet? Here's a clue. It's in the title of the post.
That's right, friends. Today in the neighborhood we're going to talk all about hedging in financial markets - spots, swaps, collars, forwards, CDS, synthetic CDOs, all that fun shit. Don't worry; I'm going to explain what all the scary words mean and how they impact your OTM RH positions along the way.
We're going to break it down like this. (1) "What's a hedge, Fuzzy?" (2) Common Hedging Strategies and (3) All About ISDAs and Credit Default Swaps.
Before we begin. For the nerds and JV traders in the back (and anyone else who needs to hear this up front) - I am simplifying these descriptions for the purposes of this post. I am also obviously not going to try and cover every exotic form of hedge under the sun or give a detailed summation of what caused the financial crisis. If you are interested in something specific ask a question, but don't try and impress me with your Investopedia skills or technical points I didn't cover; I will just be forced to flex my years of IRL experience on you in the comments and you'll look like a big dummy.
TL;DR? Fuck you. There is no TL;DR. You've come this far already. What's a few more paragraphs? Put down the Cheetos and try to concentrate for the next 5-7 minutes. You'll learn something, and I promise I'll be gentle.
Ready? Let's get started.
1. The Tao of Risk: Hedging as a Way of Life
The simplest way to characterize what a hedge 'is' is to imagine every action having a binary outcome. One is bad, one is good. Red lines, green lines; uppie, downie. With me so far? Good. A 'hedge' is simply the employment of a strategy to mitigate the effect of your action having the wrong binary outcome. You wanted X, but you got Z! Frowny face. A hedge strategy introduces a third outcome. If you hedged against the possibility of Z happening, then you can wind up with Y instead. Not as good as X, but not as bad as Z. The technical definition I like to give my idiot juniors is as follows:
Utilization of a defensive strategy to mitigate risk, at a fraction of the cost to capital of the risk itself.
Congratulations. You just finished Hedging 101. "But Fuzzy, that's easy! I just sold a naked call against my 95% OTM put! I'm adequately hedged!". Spoiler alert: you're not (although good work on executing a collar, which I describe below). What I'm talking about here is what would be referred to as a 'perfect hedge'; a binary outcome where downside is totally mitigated by a risk management strategy. That's not how it works IRL. Pay attention; this is the tricky part.
You can't take a single position and conclude that you're adequately hedged because risks are fluid, not static. So you need to constantly adjust your position in order to maximize the value of the hedge and insure your position. You also need to consider exposure to more than one category of risk. There are micro (specific exposure) risks, and macro (trend exposure) risks, and both need to factor into the hedge calculus.
That's why, in the real world, the value of hedging depends entirely on the design of the hedging strategy itself. Here, when we say "value" of the hedge, we're not talking about cash money - we're talking about the intrinsic value of the hedge relative to the the risk profile of your underlying exposure. To achieve this, people hedge dynamically. In wallstreetbets terms, this means that as the value of your position changes, you need to change your hedges too. The idea is to efficiently and continuously distribute and rebalance risk across different states and periods, taking value from states in which the marginal cost of the hedge is low and putting it back into states where marginal cost of the hedge is high, until the shadow value of your underlying exposure is equalized across your positions. The punchline, I guess, is that one static position is a hedge in the same way that the finger paintings you make for your wife's boyfriend are art - it's technically correct, but you're only playing yourself by believing it.
Anyway. Obviously doing this as a small potatoes trader is hard but it's worth taking into account. Enough basic shit. So how does this work in markets?
2. A Hedging Taxonomy
The best place to start here is a practical question. What does a business need to hedge against? Think about the specific risk that an individual business faces. These are legion, so I'm just going to list a few of the key ones that apply to most corporates. (1) You have commodity risk for the shit you buy or the shit you use. (2) You have currency risk for the money you borrow. (3) You have rate risk on the debt you carry. (4) You have offtake risk for the shit you sell. Complicated, right? To help address the many and varied ways that shit can go wrong in a sophisticated market, smart operators like yours truly have devised a whole bundle of different instruments which can help you manage the risk. I might write about some of the more complicated ones in a later post if people are interested (CDO/CLOs, strip/stack hedges and bond swaps with option toggles come to mind) but let's stick to the basics for now.
(i) Swaps
A swap is one of the most common forms of hedge instrument, and they're used by pretty much everyone that can afford them. The language is complicated but the concept isn't, so pay attention and you'll be fine. This is the most important part of this section so it'll be the longest one.
Swaps are derivative contracts with two counterparties (before you ask, you can't trade 'em on an exchange - they're OTC instruments only). They're used to exchange one cash flow for another cash flow of equal expected value; doing this allows you to take speculative positions on certain financial prices or to alter the cash flows of existing assets or liabilities within a business. "Wait, Fuzz; slow down! What do you mean sets of cash flows?". Fear not, little autist. Ol' Fuzz has you covered.
The cash flows I'm talking about are referred to in swap-land as 'legs'. One leg is fixed - a set payment that's the same every time it gets paid - and the other is variable - it fluctuates (typically indexed off the price of the underlying risk that you are speculating on / protecting against). You set it up at the start so that they're notionally equal and the two legs net off; so at open, the swap is a zero NPV instrument. Here's where the fun starts. If the price that you based the variable leg of the swap on changes, the value of the swap will shift; the party on the wrong side of the move ponies up via the variable payment. It's a zero sum game.
I'll give you an example using the most vanilla swap around; an interest rate trade. Here's how it works. You borrow money from a bank, and they charge you a rate of interest. You lock the rate up front, because you're smart like that. But then - quelle surprise! - the rate gets better after you borrow. Now you're bagholding to the tune of, I don't know, 5 bps. Doesn't sound like much but on a billion dollar loan that's a lot of money (a classic example of the kind of 'small, deep hole' that's terrible for profits). Now, if you had a swap contract on the rate before you entered the trade, you're set; if the rate goes down, you get a payment under the swap. If it goes up, whatever payment you're making to the bank is netted off by the fact that you're borrowing at a sub-market rate. Win-win! Or, at least, Lose Less / Lose Less. That's the name of the game in hedging.
There are many different kinds of swaps, some of which are pretty exotic; but they're all different variations on the same theme. If your business has exposure to something which fluctuates in price, you trade swaps to hedge against the fluctuation. The valuation of swaps is also super interesting but I guarantee you that 99% of you won't understand it so I'm not going to try and explain it here although I encourage you to google it if you're interested.
Because they're OTC, none of them are filed publicly. Someeeeeetimes you see an ISDA (dsicussed below) but the confirms themselves (the individual swaps) are not filed. You can usually read about the hedging strategy in a 10-K, though. For what it's worth, most modern credit agreements ban speculative hedging. Top tip: This is occasionally something worth checking in credit agreements when you invest in businesses that are debt issuers - being able to do this increases the risk profile significantly and is particularly important in times of economic volatility (ctrl+f "non-speculative" in the credit agreement to be sure).
(ii) Forwards
A forward is a contract made today for the future delivery of an asset at a pre-agreed price. That's it. "But Fuzzy! That sounds just like a futures contract!". I know. Confusing, right? Just like a futures trade, forwards are generally used in commodity or forex land to protect against price fluctuations. The differences between forwards and futures are small but significant. I'm not going to go into super boring detail because I don't think many of you are commodities traders but it is still an important thing to understand even if you're just an RH jockey, so stick with me.
Just like swaps, forwards are OTC contracts - they're not publicly traded. This is distinct from futures, which are traded on exchanges (see The Ballad Of Big Dick Vick for some more color on this). In a forward, no money changes hands until the maturity date of the contract when delivery and receipt are carried out; price and quantity are locked in from day 1. As you now know having read about BDV, futures are marked to market daily, and normally people close them out with synthetic settlement using an inverse position. They're also liquid, and that makes them easier to unwind or close out in case shit goes sideways.
People use forwards when they absolutely have to get rid of the thing they made (or take delivery of the thing they need). If you're a miner, or a farmer, you use this shit to make sure that at the end of the production cycle, you can get rid of the shit you made (and you won't get fucked by someone taking cash settlement over delivery). If you're a buyer, you use them to guarantee that you'll get whatever the shit is that you'll need at a price agreed in advance. Because they're OTC, you can also exactly tailor them to the requirements of your particular circumstances.
These contracts are incredibly byzantine (and there are even crazier synthetic forwards you can see in money markets for the true degenerate fund managers). In my experience, only Texan oilfield magnates, commodities traders, and the weirdo forex crowd fuck with them. I (i) do not own a 10 gallon hat or a novelty size belt buckle (ii) do not wake up in the middle of the night freaking out about the price of pork fat and (iii) love greenbacks too much to care about other countries' monopoly money, so I don't fuck with them.
(iii) Collars
No, not the kind your wife is encouraging you to wear try out to 'spice things up' in the bedroom during quarantine. Collars are actually the hedging strategy most applicable to WSB. Collars deal with options! Hooray!
To execute a basic collar (also called a wrapper by tea-drinking Brits and people from the Antipodes), you buy an out of the money put while simultaneously writing a covered call on the same equity. The put protects your position against price drops and writing the call produces income that offsets the put premium. Doing this limits your tendies (you can only profit up to the strike price of the call) but also writes down your risk. If you screen large volume trades with a VOL/OI of more than 3 or 4x (and they're not bullshit biotech stocks), you can sometimes see these being constructed in real time as hedge funds protect themselves on their shorts.
(3) All About ISDAs, CDS and Synthetic CDOs
You may have heard about the mythical ISDA. Much like an indenture (discussed in my post on $F), it's a magic legal machine that lets you build swaps via trade confirms with a willing counterparty. They are very complicated legal documents and you need to be a true expert to fuck with them. Fortunately, I am, so I do. They're made of two parts; a Master (which is a form agreement that's always the same) and a Schedule (which amends the Master to include your specific terms). They are also the engine behind just about every major credit crunch of the last 10+ years.
First - a brief explainer. An ISDA is a not in and of itself a hedge - it's an umbrella contract that governs the terms of your swaps, which you use to construct your hedge position. You can trade commodities, forex, rates, whatever, all under the same ISDA.
Let me explain. Remember when we talked about swaps? Right. So. You can trade swaps on just about anything. In the late 90s and early 2000s, people had the smart idea of using other people's debt and or credit ratings as the variable leg of swap documentation. These are called credit default swaps. I was actually starting out at a bank during this time and, I gotta tell you, the only thing I can compare people's enthusiasm for this shit to was that moment in your early teens when you discover jerking off. Except, unlike your bathroom bound shame sessions to Mom's Sears catalogue, every single person you know felt that way too; and they're all doing it at once. It was a fiscal circlejerk of epic proportions, and the financial crisis was the inevitable bukkake finish. WSB autism is absolutely no comparison for the enthusiasm people had during this time for lighting each other's money on fire.
Here's how it works. You pick a company. Any company. Maybe even your own! And then you write a swap. In the swap, you define "Credit Event" with respect to that company's debt as the variable leg . And you write in... whatever you want. A ratings downgrade, default under the docs, failure to meet a leverage ratio or FCCR for a certain testing period... whatever. Now, this started out as a hedge position, just like we discussed above. The purest of intentions, of course. But then people realized - if bad shit happens, you make money. And banks... don't like calling in loans or forcing bankruptcies. Can you smell what the moral hazard is cooking?
Enter synthetic CDOs. CDOs are basically pools of asset backed securities that invest in debt (loans or bonds). They've been around for a minute but they got famous in the 2000s because a shitload of them containing subprime mortgage debt went belly up in 2008. This got a lot of publicity because a lot of sad looking rednecks got foreclosed on and were interviewed on CNBC. "OH!", the people cried. "Look at those big bad bankers buying up subprime loans! They caused this!". Wrong answer, America. The debt wasn't the problem. What a lot of people don't realize is that the real meat of the problem was not in regular way CDOs investing in bundles of shit mortgage debts in synthetic CDOs investing in CDS predicated on that debt. They're synthetic because they don't have a stake in the actual underlying debt; just the instruments riding on the coattails. The reason these are so popular (and remain so) is that smart structured attorneys and bankers like your faithful correspondent realized that an even more profitable and efficient way of building high yield products with limited downside was investing in instruments that profit from failure of debt and in instruments that rely on that debt and then hedging that exposure with other CDS instruments in paired trades, and on and on up the chain. The problem with doing this was that everyone wound up exposed to everybody else's books as a result, and when one went tits up, everybody did. Hence, recession, Basel III, etc. Thanks, Obama.
Heavy investment in CDS can also have a warping effect on the price of debt (something else that happened during the pre-financial crisis years and is starting to happen again now). This happens in three different ways. (1) Investors who previously were long on the debt hedge their position by selling CDS protection on the underlying, putting downward pressure on the debt price. (2) Investors who previously shorted the debt switch to buying CDS protection because the relatively illiquid debt (partic. when its a bond) trades at a discount below par compared to the CDS. The resulting reduction in short selling puts upward pressure on the bond price. (3) The delta in price and actual value of the debt tempts some investors to become NBTs (neg basis traders) who long the debt and purchase CDS protection. If traders can't take leverage, nothing happens to the price of the debt. If basis traders can take leverage (which is nearly always the case because they're holding a hedged position), they can push up or depress the debt price, goosing swap premiums etc. Anyway. Enough technical details.
I could keep going. This is a fascinating topic that is very poorly understood and explained, mainly because the people that caused it all still work on the street and use the same tactics today (it's also terribly taught at business schools because none of the teachers were actually around to see how this played out live). But it relates to the topic of today's lesson, so I thought I'd include it here.
Work depending, I'll be back next week with a covenant breakdown. Most upvoted ticker gets the post.
*EDIT 1\* In a total blowout, $PLAY won. So it's D&B time next week. Post will drop Monday at market open.
submitted by fuzzyblankeet to wallstreetbets [link] [comments]

Elliott Waves Series Part 2 - The Broad Concept

Elliott Waves Series Part 2 - The Broad ConceptYou can find Part 1 here: https://www.reddit.com/Forex/comments/hieuyw/introduction_to_elliott_wave_theory_overview_of/
The primary value that the Wave Principle (from here on out, abbreviated to WP) confers on market analysts is the ability to provide context for market behaviour. Having context is incredibly important. To put it simply, the WP can be thought of as a compass. Whenever you feel lost looking at a chart (ANY chart, ANY market!), the WP will help get you back on track.
Clearing Up Some Misconceptions About Elliott Wave Theory:

  1. R.N. Elliott first discovered the WP in the 1930s using charts of the stock market. Many misinformed people believe that the WP works “best” on stocks and has been adapted for use in other markets. This is simply false. To be clear - Elliott discovered the WP. He did not invent the WP. The WP is based on human social nature and therefore it cannot be invented. It has always existed. What Elliott did was to start codifying rules and guidelines around how human social nature can be charted. Ultimately, Elliott’s objective was to be able to predict future human behaviour using the historical record. The expression of human social nature generates forms and patterns. As these forms and patterns repetitive, they have enormous predictive value.

  1. Another major misconception around the WP is that it requires a lot of discretionary analysis, and more often than not, analysts shoehorn price action to fit the Elliott Wave model. In fact, the WP has very clear rules (these rules are inviolate under any circumstance) and guidelines (these guidelines should be adhered to almost 100% of the time). While there is a discretionary element involved in counting waves, properly trained wave analysts will ultimately arrive at a consensus because following the rules and guidelines narrows the possible wave counts very quickly. Very often Wave analysts will have 2 counts at hand in terms of where they think the market is presently situated. These counts are known as the preferred count and the alternative count. These counts are validated and invalidated using price levels derived from Elliott’s rules and guidelines. The most dissent I expect from two educated Wave analysts is that one analyst’s preferred count could be the other’s alternative count. This dissent quickly resolves itself as the price action develops and validates or invalidates one count or the other. This dissent usually occurs based on wave patterns of one higher degree. It is very rare that I have seen dissent on immediate market movements.

  1. I didn’t know this was a major misconception, but someone brought this up in my first post, “I stated that Elliott Theory has better success when working in consolidations or extreme ranging markets.” This is completely false. The WP doesn’t work better or worse regardless of the market or the market conditions. That would be like saying that breathing air only works occasionally. The WP is NOT a strategy, it is the definitive model for charting human herding behaviour. Human behaviour does not show up only in periods of consolidation or range-bound markets. The markets are themselves driven by human behaviour, therefore the WP is always equally applicable. From a trading perspective, the WP is perfectly suited to capturing trends.

  1. Well, what about news events? What about supply and demand theory? What about fundamentals?! Doesn’t any of this stuff matter?? In short, the answer is no. I have previously stated that I am a macro-based investor. This is certainly true. Much of the research I consume has to do with market fundamentals and global-macro analysis. This research helps me form a view that I can overlay with the WP. From a trading perspective, when it comes to actually pulling triggers and taking positions, my decisions are always guided first and foremost by the WP. Here is a fantastic quotation from Bob Prechter on this topic, “Sometimes the market appears to reflect outside conditions and events, but at other times it is entirely detached from what most people assume are causal conditions. The reason is that the market has a law of its own. It is not propelled by the external causality to which one becomes accustomed in the everyday experiences of life. The path of prices is not a product of news. Nor is the market the cyclically rhythmic machine that some declare it to be. Its movement reflects a repetition of forms that is independent both of presumed causal events and of periodicity.”
The Bottom Line:
Elliott Wave Theory is the best forecasting tool in existence. It has determined that the market’s progression unfolds in waves. Waves can be thought of as patterns that carry the market in a direction. There are a fixed number of the different kinds of patterns these waves can take. If you really boil this down to its essence, successfully applying the WP is as simple as identifying what kind of wave the market is currently in.
I will end this now. The next part will deal with the overriding wave structure that the market is in, the different kinds of waves we will see, and why this wave structure exists in the first place.
submitted by ParallaxFX to Forex [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]

Best non-airmiles (cash back?) credit card in Singapore

I have always used an airmiles card for Singapore Airlines miles. I might not be flying in the near future so thought about applying for a second credit card, and I thought cashback is the best deal right now. Has anyone researched the best cashback credit cards?
I thought the only ones worth considering are:
- UOB One card - gives you fixed cashback of SGD300 if you spend at least SGD2,000/month for 3 consecutive months (or 5% cashback if you spend exactly SGD2,000/month as you get no cashback for the excess) and fixed cashback of SGD50 or SGD100 if you spend at least SGD500/month or SGD1,000/month, respectively for 3 consecutive months (or 3.3% cashback if you spend exactly the minimum) (but dealing with UOB is the most painful experience on the planet; this is a bank that will send you a SMS that they sent you a physical letter to ask you to send them an e-mail)
- American Express True Cashback - 3% on first SGD5,000 if you spend SGD5,000 within first 6 months; 1.5% otherwise with no minimum (great as a second card if you hit the cap of another card and regularly spend beyond the SGD2,800 spend limit for cashback of the UOB One; also gives you 2.5% cashback on non-SGD spend but you would save by using Transferwise or a similar challenger bank card to pay for lower forex rather than paying an inflated credit card forex rate and getting 1% back)
- HSBC Advance - SGD150 on first SGD800 if you spend SGD800 in first month; 1.5% up to SGD70/month otherwise (2.5% if you are HSBC Advance client); 2.5% for dining, utility and telco bills with SGD2,000/month minimum spend (could be useful as a second card like the Amex True Cashback)
- UOB YOLO - gives you 8% cashback (capped at SGD60/month or cash back on up to SGD750/month spend) on weekend dining, entertainment and Grab (3% on weekdays) with minimum SGD600/month spend (could be useful if you are ordering fancy weekend takeout a lot right now)
- OCBC 365 - gives you 6% cashback (capped at SGD80/month or cash back on up to SGD1,333/month spend) on dining and online food orders, and 3% cash back on grocery, telco and utilities, with minimum SGD800/month spend (could be useful if you are ordering a lot of takeout right now, but OCBC is also harder to deal with)
- DBS Live Fresh - gives 5% cashback capped at SGD60/month but requires minimum spend of SGD600/month; gives actual monthly cashback of up to SGD20 on SGD400 per category for "online", "eligible Visa Contactless", and all other spend (you get up to SGD40/month cashback on SGD800/month spent in two broad categories (online and Visa contactless) but a lot of hassle for up to 3 x SGD20/month and useful only if you spend so much (and still want to squeeze out this SGD60/month of cashback!) that you max the cap on the better cards; again, you might make a loss by forgetting about the card and having to pay late fees, annual renewal fee, etc)
- Maybank Friends and Family - 8% cashback (capped at SGD80/month or cash back on up to SGD1,000/month) on groceries (including online grocery), fastfood (including Deliveroo and Foodpanda), petrol, ride hailing, and telco, with minimum SGD800/month spend to receive 8% rate (useful if you spend closer to SGD1,000/month on groceries but that's not everyone)
Other options (that are nowhere as good as they first seem) would be:
- Citi SMRT - gives 3% cashback on "online" shopping and 5% on selected groceries, McDonalds and other fastfood, Starbucks and other coffee, movie; minimum spend of SGD300/month (plus 2% on ez-Link top up, if you want a couple of dollars more a month!) (looks like a huge hassle because you get "SMRT$" instead of real dollars up front; could be useful as a second card if you max out the caps of the better cards, carefully check if a merchant counts as "online", and if you buy your groceries at Fairprice, Giant or Sheng Shiong)
- Citi Cash Back - gives 8% cashback capped at SGD75/month for dining, grocery and petrol but requires minimum spend of SGD888/month; gives actual monthly cashback of up to SGD25 on SGD312.50 per category for dining, grocery and petrol (a lot of hassle for up to 3 x SGD25/month, you might make a loss by forgetting about the card and having to pay late fees, annual renewal fee, etc)
- POSB Everyday - could be useful if you shop at Sheng Siong and the other places covered by the card
- Bank of China family - gives you 10% cashback on dining of up to SGD25/month on SGD250/month and 3% on online shopping, with minimum SGD800/month spend (if you want to do the accounting acrobatics to keep track of the details...)
- QUESTION - Maybank Visa Infinite - featured in the Straits Times June 14, 2020 edition as being the only card that racks up rewards points for insurance premiums, but I cannot figure out the card based on the Maybank website. It emphasises air miles as its perks and says it has a SGD600 annual fee (waived for SGD60,000 annual spend).
Has anyone else applied for non-airmiles cards? Happy to hear people's thoughts.
UPDATE: I was wondering what the best spending plan is for someone who spends at least SGD2,000-3,000/month. Below that, you should focus on the minimum spend for one card and above that, you would put the excess in a card like the Amex, Standard Chartered or HSBC Advance with a no cap 1.5% cash back.
I was thinking:
DBS Live Fresh - Spend your first SGD800/month of online and Visa contactless on this card (two broad categories) for 5% cash back
UOB Yolo or OCBC 365 - Spend up to SGD 750 or SGD1,333/month on weekend dining or dining and other qualified spend here for 8% or 6% cash back
UOB One - Put your spend that does not go to a higher cash back card here and make sure you hit exactly SGD500, 1,000 or 2,000/month for SGD50, 100 or 300 cash back/quarter (again, you get no cash back for the excess)
American Express True Cash Back - Put your spend here after you hit the monthly target on the UOB One
UPDATE: I tried applying for the UOB One, took UOB two months to process my application, then they say after approval, they need two business days to process the release of the actual credit card then two business days to deliver. I tried HSBC, Amex and DBS and they processed and delivered the actual card on the third business day after application (not after approval but after submission of the application)
submitted by josemartinlopez to singapore [link] [comments]

Farewell Forex Redditors (kind of)

It's been a crazy few months (78 days to be exact) since I resurrected my Forex journey. Through the ups and downs, I've discovered a unique trading approach that works specifically for me. In doing so I reached out to my mentor, who has been monitoring my progress, about how I can take my game to the next level.
He suggested that I pursue the route of getting funded and being able to trade Forex with a much larger balance since I've found a winning strategy that works for me. Needless to say, I started researching prop firms under his guidance and today I was officially approved to trade/manage a $50k account.
This is a huge deal for me and I've come a long way since first learning how to trade Forex back in the summer of 2015. Due to the strict details of my contract with the firm I will stop engaging in posts and discussions regarding Forex trading as it could be a breach of my contract. The best part about this is I only ever made trades based on my own analysis/conclusion anyway, so this will be super easy.
I'm excited to see where this goes. I'm going to devote the rest of the year to successfully trading and building up the account now under my management. If I'm still on Reddit I may just become more active in my hobbies like luxury watch trading, sports card collecting, and sports betting. Other than that, I'm done with the trading sub-reddits.
For the handful of traders that I've been in constant contact with, feel free to DM me for my contact details outside of reddit.
I wish you all the best of luck in the markets.
BK
submitted by Rebel-Wit-A-Bezel to u/Rebel-Wit-A-Bezel [link] [comments]

[Free] The Complete Day Trading Course - YouTube Playlist (New 2020)

Day Trading & Technical Analysis System For Intraday Trading Stocks, Forex, Crypto, Options Trading & Financial Trading
What you'll learn
Learn All The Charting Tools, Trading Strategies And Profitable Hacks For Day Trading With Real World Examples!
Dedicated Support from the Course Instructors and the Learning Community. 100% Questions Answered Within 24 Hours!
How to Build a Solid Strong Foundation For Day Trading
How to Use TradingView For Chart Analysis & Paper Trading
How to Choose The Best Chart Time Frames For Day Trading
How to Use Different Day Trading Order Types
How to Short Sell & Deal With Short Squeezes
How to Avoid Blowing Up Your Account
How to Use Support & Resistance
How to Trade Profitable Technical Indicators & Overlays That Work Well For Day Trading
How to Identify Market Directions Using EMA
How to Identify Market Directions Using MACD
How to Identify Overbought and Oversold Conditions Using RSI
How to Use Bollinger Bands to Buy Low Sell High
How to Trade Profitable Chart Patterns That Work Well For Day Trading
How to Trade Broadening Tops and Bottoms
How to Trade Wedges and Triangles
How to Trade Flags and Pennants
How to Trade Gaps
How to Trade Double Tops and Bottoms
How to Trade Rounding Tops and Bottoms
How to Trade Diamond Tops and Bottoms
How to Trade Cup and Handle
How to Trade Head and Shoulders
How to Trade Dead-Cat Bounces
And a lot more...
Videos
Introduction

003 How to Use Trading View For Chart Analysis

004 How to Choose The Best Chart Time Frames For Day Trading

005 Day Trading Order Types

006 Short Selling Short Squeeze

007 How to Avoid Blowing Up Your Account

008 How to Use Support Resistance

009 How to Identify Market Directions Using EMAs

010 How to Identify Market Directions Using MACD

011 How to Identify Overbought and Oversold Conditions Using RSI

012 How to Use Bollinger Bands to Buy Low Sell High

013 How to Trade Broadening Tops and Bottoms

014 How to Trade Wedges and Triangles

015 How to Trade Flags and Pennants

016 How to Trade Gaps

017 How to Trade Double Tops and Bottoms

018 How to Trade Rounding Tops and Bottoms

019 How to Trade Diamond Tops and Bottoms

020 How to Trade Cup and Handle

021 How to Trade Head and Shoulder

022 How to Trade Dead Cat Bounces
submitted by cardporbudspha to Daytrading [link] [comments]

My timeline of 20 years of trading (good and bad) to profitability

Tips for picking mentors
This is what works for me, and what I would tell my younger self. Don't let anyone tell you who's good or not, and who's helpful or not. Always start with an open mind. I follow Ferrari flashing you tube traders and dry professorial educators who use pen and paper. All that matters is that they help you make money.
I am 41.
16 (1995): Started designing web pages for friends and family and local businesses.
18 (1997): Opened my first account with $10k on parents advise but had little interest. Started a pro-gaming league hosting tournaments around the country for Starcraft.
20: (1999) Had an established client based now (LSU Tigers website and first online auction service, Texas Roadhouse, et al)
Saved $25k now from working. Decided to pay taxes for the first time. Suddenly became very conservative (fiscally) and wanted to know how to make back the money the Government just stole from me (preferably directly from them).
  1. (2001) Became very ill and had to drop out of college and quit my businesses. I slowly lost every friend and contact I had made since childhood.
  2. Spent the last 15 years Warren-Buffetting (buying things I know that seem affordable) my way up and down from 5$k - $35k. I was good enough to be able to take money out to live and had a little family money (from a portion of a family insurance company I provided services for) that I lived comfortably. I blew up a few times a long the way and didn't know what a candlestick was.
  3. Went into liver failure and ICU at Mayo Clinic. Got out a year later weighing 90 pounds.
39-41. Started turning a corner. I started reading Daytrading and met an ex-gambler (gone now) who was posting occasional watch lists of gappers and ran a discord chatroom calling breakout ORB5 setups. I noticed he picked a lot of winners and did not want to copy him but wanted to know HOW he picked them. I joined his room. I think he had started it the day before because there were like 3 of us. He was offering instruction on how to scan for break out long and short possibilies on FinViz. (Long https://bit.ly/2ZV8LQK: Short: https://bit.ly/2O6oo2B )
I was literally like.. "whats a vwap". He was so patient with me and we became friends. He moved on to bigger goals since then but we are still in touch. I was making nearly $2k a day following his alerts. He was a good mentor (luckily) because he never told me entries or exits. he would tell me his thoughts but never specifics - that was up to me. I learned a great deal from him, but once he left I could not pick the winners like he could. I could trade stocks but I could not pick stocks. I wanted to find winners on my own. I ended up paying him about $90 for a an hour "lesson" after we quite some time but I was already profitable and already knew everything he went over but I wanted to support him and be his first paid endoresement. He was so good at picking winners and losers that he was actually offered a lucritive private job and he accepted. He was the first person who changed my trading life.
(I did pay for a couple "indicators and services" and that I ..learned a lot from the lesson in stupidity they gave me but will not mention them by name. I'm sure my timing on things is a little off on details. When I say I bought an "indicator" this means a specific tool used to do something that I cannot do myself or to make up for a weakness I have (counting waves). Not a "green arrow buy and green arrow to sell" indicator.)
I literally googled "how to stop having trades turn against you" and watched a video I would later learn was on Stochstic Divergences from someone named Barry Burns. I researched him and watched about a hundred of his videos and was fascinated. I read one concerning review but then read that the person never took his courses and was just made because he would not provide financial statements as proof he was a profitable trader. (he does not give trade alerts, he's just an instructor so he never does this). I took a webinar on the weekend. He does one weekly at least. He asked for 250 people max and a thousand showed up. He had a chatbox and answered my question personally so after that I felt confident enough to pay him for course. I emailed him and he responded personally with a course outline. I took a beginner course and was dying to learn more. He just happened to have a special for basically every course he's ever done for half the cost. I decided this was a way to trade that spoke to my strengths and I wanted to try to master it so I did it all. Beginner to masterclass, trends, scalps, reversals, fib, cycles, waves, crosses, sector research, futures, options, stocks, forex, minute charts to yearly, tick , heikin ashi, divergences.. it went on and on and I ate it up with a spoon. At the same time I started reading books. We correspond through emails still and sometime's hes busy. I don't know if he even knows who I am but he was the second person who changed my trading life.
I knew a lot but I was losing (often more) money. I was a "doctor" (maybe an high-school nurse) who had read a book on surgery but never done it and said "sure.. I can transplant a heart!"
Rather than focus on my teachings and understanding what I was learning, I got impatient and moved on too quickly. Anything I mention I did find helpful but not always at the time that I found it. I should have mastered each item then added to my already profitable program. I had neither of those things. The course I took from Barry Burns had some custom indicators for some platforms, but none I used. They were not "premium indicators" so to speak of little buy now arrows, but simply auto labeling of waves and cycles, auto drawing of some divergences etc. He teaches counting different from anyone else I've seen so standard Elliot wave theory did not work. I was frustrated. I was wondering if I made a mistake learning something differently than other people. (in the end it was irrelevant. It was an understanding of concepts and theory that mattered. The means by which you learned it is far less important. I would definitely take his courses again as my entry into trading if I did it again)
I knew how to trade I did not know what or when to trade them. I found a man named Robert Payne. He writes custom indicators for thinkorswim, many of which are are only available on other platforms. I had a lot of programming experience so I bought a couple of things from him and started studying his code. He was amazing! His code is top quality and his indicators actually were very good. And they did start helping me find a few setups. But they were expensive and nothing lasted. I would buy a Wolfe Wave indicator and learn to trade it but not understand what it was doing. We e-mailed back and fourth for a little while as he was teaching me how to use his stuff. He introduced me to a number of people (who often were behind the original indicators he was trying to replicate) and for that I am most grateful to him. The first and most influential to me later was Scott Carney.
Scott runs HarmonicTrader.com. He sells a very reasonable (I think its like 20 bucks a month when he does a sale) where you get a morning trade meeting about the market and futures commodities harmonics that are setting up, a harmonic pattern indicator for almost any platform (some are far better than others)) and books and videos all focused on this one thing he has dedicated his life to.
I went to culinary school for a year. My first Chef instructor told our class on day one: "always source from people who specialize in one thing". On dozens of trips to Mexico in my youth we would drive ATC's up dirt roads to these small shacks. The last house on the left was Lupe and she always had a baby in one arm and a ladle in the other where she pour tortilla batter on a griddle press. I doubt it was clean, everything was covered in dirt from the windy sandy landscape - but they were the best damn tortilla's in the world.
Scott Carney is my chubby little Mexican goddess of trading Harmonic patterns and the third person who changed my trading life. (and he would not be happy if I called him that)
At this point I was struggling to find tradable stocks still. I started leaving all my chatrooms and twitter groups and message boards. I limit my twitter to people who trade better than me or up-my-game in some way. I try not to "mingle" with people of my skill level too much. I want to be challenged constantly.
I met a few more mentors but no more paid programs. Instead I pay for services like good websites and platforms that help me make my own decisions. I started associating and following expert technicians and I learn from every day and week in videos charts and tweets.
Now when I see this:
https://chrt.biz/LOVE/12425esmrhl/chart/
This is what I see in my head.
https://chrt.biz/LOVE/12425equ72v/chart/
and when I see this
https://chrt.biz/CCH/12425esm49g/chart/
I see this
https://chrt.biz/CCH/12425eqxxj4
And when I have nothing to trade, I can write my own scan and find my own winner and trade it without outside help.
There was no short cut. I put hours and hours and hour and hours in charting a hundred charts a day. Repetition = learning. Just make sure you are learning something you won't regret.
submitted by UncleRyan79 to UncleRyanAZ [link] [comments]

How to deal with forex brokers | BEST FOREX TRADING SITE

submitted by pushi to reddit.com [link] [comments]

Stake vs Hatch Fees Explained

--UPDATE--
In light of Christine from Hatch's announcement of a reduction to a flat $3 broker fee, I've updated in a new comment here.
Treat the direct comparison of $ below as incorrect (once Hatch update their pricing).
--Old Text--
I decided to undertake a fees comparison of the two platforms as Stake is launching on Tuesday.
Comparing Hatch and Stake, the long and short of it is:
Most people will do the latter and be DCA in to a lot of smaller companies so Stake will end up being a lot cheaper on the buy-in.
https://imgur.com/a/wkuiIl1
Comparing to US based companies, assuming you use Transferwise to deposit into a US bank account and there is no fee to transfer from the US account to their service, Transferwise appear to get a 0.6% better FOREX rate than Hatch did when I just checked - Transferwise was $0.6067 vs Hatch $0.6029 (I'm assuming the Hatch FOREX rate will be similar to Stake, can't check atm as I don't have a Stake account until Tuesday). So the break-even point for using Transferwise at current FOREX rates is about $250 (below Stake is better, above Transferwise is better), excluding IBKTD Ameritrade fees (TDA have no broker fees currently). Hatch will allow USD transfer but only if you email them so I don't think you can use this as your regular deposit strategy.
One thing to consider with IBKTD Amertrade is they are US companies who are not at all interested in your NZ tax requirements so will not help you at all in the process. Customer support will be harder to get, and using Transferwise is not a trivial process especially if you are doing very regular deposits it can become a PITA for a relatively tiny difference in fees (eg if you deposit $500/fortnight the difference in FX fees is about $3 per transaction, so just don't buy that bag of chips and save yourself the hassle of using Transferwise + foreign based company IMO - and this is coming from someone who even changes power and ISP companies every year chasing better deals!).
Once you want to withdraw money, Hatch is obviously cheaper at 0.5% (edit: despite the $8 withdrawal fee) compared to 1% with Stake (and they have a $2 withdrawl fee that will be pretty negligible if you have a lot of money invested). Hatch will do an off-market transfer of US shares so best strategy might be using Stake for deposits and Hatch for withdrawals.
Another benefit to Hatch is that they are Kiwi owned so I think more likely to be accessible in terms of Tax and customer support than an Aussie based company (Stake). Lastly with Hatch, if a company is less than $400/share then you should buy a series of Fractional share bids unless you are buying more than 2.66 share units, above that the $8 broker fee is better.
Edit: I had a user complaining about the withdrawal fee of $8 through Hatch. This is true if you are regularly buying and selling shares. Typical advice given here is directed to buy and hold strategies (so you only get stung once for a withdrawal after X number of years), if you want day trading advice there are other subs for that. See my comment here.
submitted by kinnadian to PersonalFinanceNZ [link] [comments]

Some tips for Choosing a Mentor

This is what works for me, and what I would tell my younger self. Don't let anyone tell you who's good or not, and who's helpful or not. Always start with an open mind. I follow Ferrari flashing you tube traders and dry professorial educators who use pen and paper. All that matters is that they help you make money.
Top portion are tips. I posted a long outline below of my timeline (shorter version of my first post) and good and bad decisions I made. I'm not always sure what information helps people. I enjoyed posts like this while I was learning.
Tips

My Timeline
  1. Saved $25k from self employment. Decided to pay taxes for the first time. Suddenly became very conservative (fiscally) and wanted to know how to make back the money the Government just took from me (preferably directly from them).
  2. (2001) Became very ill and had to drop out of college and quit my work.
  3. Spent the next 15 years Warren-Buffetting (buying things I know that seem affordable) my way up and down. I was good enough to be able to take money out to live comfortably. I blew up a few times a long the way and didn't know what a candlestick was.
  4. 3-4 years in a health crisis
38-40. Started turning a corner. I started reading Daytrading and met an ex-gambler (gone now) who was posting occasional watch lists of gappers and ran a discord chatroom calling breakout ORB5 setups. I noticed he picked a lot of winners and did not want to copy him but wanted to know HOW he picked them. I joined his room. I think he had started it the day before because there were like 3 of us. He was offering instruction on how to scan for break out long and short possibilies on FinViz. (Long https://bit.ly/2ZV8LQK: Short: https://bit.ly/2O6oo2B )
I was literally like.. "whats a vwap". He was so patient with me and we became friends. He moved on to bigger goals since then but we are still in touch. I was making nearly $2k a day following his alerts. He was a good mentor (luckily) because he never told me entries or exits. he would tell me his thoughts but never specifics - that was up to me. I learned a great deal from him, but once he left I could not pick the winners like he could. I could trade stocks but I could not pick stocks. I wanted to find winners on my own. I ended up paying him about $90 for a an hour "lesson" after we quite some time but I was already profitable and already knew everything he went over but I wanted to support him and be his first paid endoresement. He was so good at picking winners and losers that he was actually offered a lucritive private job and he accepted. He was the first person who changed my trading life.
(I did pay for a couple "indicators and services" and that I ..learned a lot from the lesson in stupidity they gave me but will not mention them by name. I'm sure my timing on things is a little off on details. When I say I bought an "indicator" this means a specific tool used to do something that I cannot do myself or to make up for a weakness I have (counting waves). Not a "green arrow buy and green arrow to sell" indicator.)
I literally googled "how to stop having trades turn against you" and watched a video I would later learn was on Stochstic Divergences from someone named Barry Burns. I researched him and watched about a hundred of his videos and was fascinated. I read one concerning review but then read that the person never took his courses and was just made because he would not provide financial statements as proof he was a profitable trader. (he does not give trade alerts, he's just an instructor so he never does this). I took a webinar on the weekend. He does one weekly at least. He asked for 250 people max and a thousand showed up. He had a chatbox and answered my question personally so after that I felt confident enough to pay him for course. I emailed him and he responded personally with a course outline. I took a beginner course and was dying to learn more. He just happened to have a special for basically every course he's ever done for half the cost. I decided this was a way to trade that spoke to my strengths and I wanted to try to master it so I did it all. Beginner to masterclass, trends, scalps, reversals, fib, cycles, waves, crosses, sector research, futures, options, stocks, forex, minute charts to yearly, tick , heikin ashi, divergences.. it went on and on and I ate it up with a spoon. At the same time I started reading books. We correspond through emails still and sometime's hes busy. I don't know if he even knows who I am but he was the second person who changed my trading life.
I knew a lot but I was losing (often more) money. I was a "doctor" (maybe an high-school nurse) who had read a book on surgery but never done it and said "sure.. I can transplant a heart!"
Rather than focus on my teachings and understanding what I was learning, I got impatient and moved on too quickly. Anything I mention I did find helpful but not always at the time that I found it. I should have mastered each item then added to my already profitable program. I had neither of those things. The course I took from Barry Burns had some custom indicators for some platforms, but none I used. They were not "premium indicators" so to speak of little buy now arrows, but simply auto labeling of waves and cycles, auto drawing of some divergences etc. He teaches counting different from anyone else I've seen so standard Elliot wave theory did not work. I was frustrated. I was wondering if I made a mistake learning something differently than other people. (in the end it was irrelevant. It was an understanding of concepts and theory that mattered. The means by which you learned it is far less important. I would definitely take his courses again as my entry into trading if I did it again)
I knew how to trade I did not know what or when to trade them. I found a man named Robert Payne. He writes custom indicators for thinkorswim, many of which are are only available on other platforms. I had a lot of programming experience so I bought a couple of things from him and started studying his code. He was amazing! His code is top quality and his indicators actually were very good. And they did start helping me find a few setups. But they were expensive and nothing lasted. I would buy a Wolfe Wave indicator and learn to trade it but not understand what it was doing. We e-mailed back and fourth for a little while as he was teaching me how to use his stuff. He introduced me to a number of people (who often were behind the original indicators he was trying to replicate) and for that I am most grateful to him. The first and most influential to me later was Scott Carney.
Scott runs HarmonicTrader.com. He sells a very reasonable (I think its like 20 bucks a month when he does a sale) where you get a morning trade meeting about the market and futures commodities harmonics that are setting up, a harmonic pattern indicator for almost any platform (some are far better than others)) and books and videos all focused on this one thing he has dedicated his life to.
I went to culinary school for a year. My first Chef instructor told our class on day one: "always source from people who specialize in one thing". On dozens of trips to Mexico in my youth we would drive ATC's up dirt roads to these small shacks. The last house on the left was Lupe and she always had a baby in one arm and a ladle in the other where she pour tortilla batter on a griddle press. I doubt it was clean, everything was covered in dirt from the windy sandy landscape - but they were the best damn tortilla's in the world.
Scott Carney is my chubby little Mexican goddess of trading Harmonic patterns and the third person who changed my trading life. (and he would not be happy if I called him that)
At this point I was struggling to find tradable stocks still. I started leaving all my chatrooms and twitter groups and message boards. I limit my twitter to people who trade better than me or up-my-game in some way. I try not to "mingle" with people of my skill level too much. I want to be challenged constantly.
I met a few more mentors but no more paid programs. Instead I pay for services like good websites and platforms that help me make my own decisions. I started associating and following expert technicians and I learn from every day and week in videos charts and tweets.
41 I started studing #thestrat on twitter and following the mentor Rob Smith. He taught me price discovery, time frame continuity and participation groups. He is the fourth person who changed my trading life.
Now when I see this:
https://chrt.biz/LOVE/12425esmrhl/chart/
This is what I see in my head.
https://chrt.biz/LOVE/12425equ72v/chart/
and when I see this
https://chrt.biz/CCH/12425esm49g/chart/
I see this
https://chrt.biz/CCH/12425eqxxj4
And when I have nothing to trade, I can write my own scan and find my own winner and trade it without outside help. They aren't all winners. Plenty of losers. But I do it without help and that was my goal from day one. There were definitely turning points in my journey where the knowledge I learned caught up with the trading I was doing. If I had to do it over again, I don't think I would do anything differently. Even my mistakes were learning opportunities and brought me to where I am today.
There was no short cut. This is the hardest thing I've tried to do in my life and I've had some doozy's. I put hours and hours and hour and hours in charting a hundred charts a day. Repetition = learning for me. Just make sure you are learning something you won't regret. It's almost impossible to unlearn and I spend the majority of my time trying to stick to a rule-set to counteract things I learned incorrectly. I revisited things like Harmonics (that I trade daily now) as I gained more skill and finally things started coming together for me more and more until I just started to see patterns and trends and set ups naturally. Trading is a learnable skill that anyone can accomplish with hard work and focus.

Good Luck. Be Safe.
submitted by UncleRyan79 to UncleRyanAZ [link] [comments]

Forex Trading - Getting Started

Forex Trading: a Beginner's Guide
The forex market is the world's largest international currency trading market operating non-stop during the working week. Most forex trading is done by professionals such as bankers. Generally forex trading is done through a forex broker - but there is nothing to stop anyone trading currencies. Forex currency trading allows buyers and sellers to buy the currency they need for their business and sellers who have earned currency to exchange what they have for a more convenient currency. The world's largest banks dominate forex and according to a survey in The Wall Street Journal Europe, the ten most active traders who are engaged in forex trading account for almost 73% of trading volume.
However, a sizeable proportion of the remainder of forex trading is speculative with traders building up an investment which they wish to liquidate at some stage for profit. While a currency may increase or decrease in value relative to a wide range of currencies, all forex trading transactions are based upon currency pairs. So, although the Euro may be 'strong' against a basket of currencies, traders will be trading in just one currency pair and may simply concern themselves with the Euro/US Dollar ( EUUSD) ratio. Changes in relative values of currencies may be gradual or triggered by specific events such as are unfolding at the time of writing this - the toxic debt crisis.
Because the markets for currencies are global, the volumes traded every day are vast. For the large corporate investors, the great benefits of trading on Forex are:

From the point of view of the smaller trader there's lots of benefits too, such as:

How the forex Market Works
As forex is all about foreign exchange, all transactions are made up from a currency pair - say, for instance, the Euro and the US Dollar. The basic tool for trading forex is the exchange rate which is expressed as a ratio between the values of the two currencies such as EUUSD = 1.4086. This value, which is referred to as the 'forex rate' means that, at that particular time, one Euro would be worth 1.4086 US Dollars. This ratio is always expressed to 4 decimal places which means that you could see a forex rate of EUUSD = 1.4086 or EUUSD = 1.4087 but never EUUSD = 1.40865. The rightmost digit of this ratio is referred to as a 'pip'. So, a change from EUUSD = 1.4086 to EUUSD = 1.4088 would be referred to as a change of 2 pips. One pip, therefore is the smallest unit of trade.
With the forex rate at EUUSD = 1.4086, an investor purchasing 1000 Euros using dollars would pay $1,408.60. If the forex rate then changed to EUUSD = 1.5020, the investor could sell their 1000 Euros for $1,502.00 and bank the $93.40 as profit. If this doesn't seem to be large amount to you, you have to put the sum into context. With a rising or falling market, the forex rate does not simply change in a uniform way but oscillates and profits can be taken many times per day as a rate oscillates around a trend.
When you're expecting the value EUUSD to fall, you might trade the other way by selling Euros for dollars and buying then back when the forex rate has changed to your advantage.
Is forex Risky?
When you trade on forex as in any form of currency trading, you're in the business of currency speculation and it is just that - speculation. This means that there is some risk involved in forex currency trading as in any business but you might and should, take steps to minimise this. You can always set a limit to the downside of any trade, that means to define the maximum loss that you are prepared to accept if the market goes against you - and it will on occasions.
The best insurance against losing your shirt on the forex market is to set out to understand what you're doing totally. Search the internet for a good forex trading tutorial and study it in detail- a bit of good forex education can go a long way!. When there's bits you don't understand, look for a good forex trading forum and ask lots and lots of questions. Many of the people who habitually answer your queries on this will have a good forex trading blog and this will probably not only give you answers to your questions but also provide lots of links to good sites. Be vigilant, however, watch out for forex trading scams. Don't be too quick to part with your money and investigate anything very well before you shell out any hard-earned!
The forex Trading Systems
While you may be right in being cautious about any forex trading system that's advertised, there are some good ones around. Most of them either utilise forex charts and by means of these, identify forex trading signals which tell the trader when to buy or sell. These signals will be made up of a particular change in a forex rate or a trend and these will have been devised by a forex trader who has studied long-term trends in the market so as to identify valid signals when they occur. Many of the systems will use forex trading software which identifies such signals from data inputs which are gathered automatically from market information sources. Some utilise automated forex trading software which can trigger trades automatically when the signals tell it to do so. If these sound too good to be true to you, look around for online forex trading systems which will allow you undertake some dummy trading to test them out. by doing this you can get some forex trading training by giving them a spin before you put real money on the table.
How Much do you Need to Start off with?
This is a bit of a 'How long is a piece of string?' question but there are ways for to be beginner to dip a toe into the water without needing a fortune to start with. The minimum trading size for most trades on forex is usually 100,000 units of any currency and this volume is referred to as a standard "lot". However, there are many firms which offer the facility to purchase in dramatically-smaller lots than this and a bit of internet searching will soon locate these. There's many adverts quoting only a couple of hundred dollars to get going! You will often see the term acciones trading forex and this is just a general term which covers the small guy trading forex. Small-scale trading facilities such as these are often called as forex mini trading.
Where do You Start?
The single most obvious answer is of course - on the internet! Online forex trading gives you direct access to the forex market and there's lots and lots of companies out there who are in business just to deal with you online. Be vigilant, do spend the time to get some good forex trading education, again this can be provided online and set up your dummy account to trade before you attempt to go live. If you take care and take your time, there's no reason why you shouldn't be successful in forex trading so, have patience and stick at it!
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How The Forex Market Really Works?

What Does Forex Duality Have To Offer?
1.The Training Section:
Accelerating Profits System**:-**This module comprises of an understanding manual and a progression of careful, simple, and pleasant recordings that will take you on a stride by step excursion of Forex Trading. By simply perusing the initial scarcely any pages, you will feel sufficiently great to proceed onward to the video arrangement.
At long last, setting out on this excursion, the amateur will figure out how the product functions, the tips, stunts, apparatuses, and procedures to get by in the market, make moment benefits, and abstain from losing any cash.
2.Automated Software:
Since you have taken in the essentials, how about we step into the trillion-dollar exchanging market with the Forex Duality computerized following programming. Try not to freeze, recall this product is intended to assist the supreme fledglings with no earlier exchanging programming to expand benefits and take out misfortunes. By and by, we have you secured since the product will in a consistent way, train you to perceive the best beneficial arrangements out there by examining significant Forex signals continuously!
What Do You Need To Do To Get All Exciting Deals?
Tradeology:- To turn out to be a piece of the Forex Duality people group, all you need is to enroll in the live online course by filling the online structure. (name and email address)You will get an affirmation that will educate you about the time and date for the online course.
Woohoo! It was that basic!
You will likewise get an SMS alert before the online course begins so you don't miss the live meeting.
What's In There For You In The Webinar?
Adrian Jones, the forex exchanging expert will be there to respond to every one of your inquiries. (An intriguing certainty: Adrian Jones helped the large banks make their exchanging procedures. He has exchanged FX at a portion of the world's most esteemed financial establishments and has more than 30 years of worldwide FX Trading experience)
Alongside Adrian Jones and numerous other exchanging specialists, you will have the option to locate the concealed privileged insights of Forex exchanging with the goal that you can ace the tips and devices.
Experts:
You don't need to trust that days will see your benefits expanding.
With Forex Duality, you start to get results rapidly when 60 minutes, and here and there, in practically no time.
It is straightforward and simple to utilize.
You don't have to have a Ph.D. in stock exchanging to utilize this bit of programming.
Forex You won't locate any convoluted stuff here since the product has been intended for individuals with no earlier exchanging experience. In no, time will you wind up having handled over the exchanging bends and charts, and so on.
Not at all like the many exchanging programming out there, Forex Duality won't confuse your life by besieging you with warnings, diagrams, tables, and other irritating factual information.
The exchanging programming has a basic arrangement of outlines and continuous live statements on each tradable FX pair. You can generally organize the diagram yield to coordinate your own style and favored settings.
Coaches are consistently on your side, giving you live recommendations on the best way to expand your cash.
You simply pay once!
This item doesn't concoct the problem of any drawn-out venture.
Accompanies 100% Satisfaction Guaranteed By Tradeology
Still not happy with results? Forex Duality is supported by Clickbank so you can get your cashback if this weren't the outcomes you were seeking after.
We, here at Forex Duality offer you a broad emotionally supportive network.
The way toward adapting never stops. You get an opportunity to go to the customary online courses held by professional specialists to have you refreshed.
A restrictive part region:
Tradeology There is additionally a restrictive part territory where all Forex Duality clients can talk about and upgrade their insight on their excursion of acing forex exchanging.
Regardless of any place ever you are on the planet, you can even now approach access to Forex Duality so you don't pass up the benefits!
Generally safe, High Profit!
It wipes out 90% of the work ordinarily connected with exchanging, leaving you allowed to make a mind-blowing most doing different things you love, while you make large money!
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Forex Duality Review – Tradeology

Two pointers have been made by them. The markers that you will get have achieved some International acclaim, and individuals have incredible regard for it. The designers have made a few recordings that will give you the direction that will assist you in beginning with MT4. The pointers will likewise give a cheat sheet that you can download effectively to utilize it as a convenient reference at whatever point it is required. All the means are referenced, and the highlights are anything but difficult to execute. You will get a bit by bit direction on the best way to make an exchanging section or leave signal.
The manual that you will get has a great deal of specifying alongside some exchanging models. A few games have been made by the organization, and it has likewise said that the Forex Profit Boost is appropriate for various time spans of exchanging.
Forex Duality Exchange Predator is one of those restrictive exchanging frameworks that is increasing a ton of consideration. You will likewise get a few establishment recordings and welcome recordings that will assist you with beginning with the framework marker. After you observe all the video instructional exercises, you will have the option to comprehend MetaTrader 4. The manual has a great deal of itemizing, and as per the organization, this framework has all the possibility to furnish you with ideal exchanging situations.
Both the markers had the option to accomplish some business accomplishments during the hour of dispatch. It is anything but difficult to utilize both the framework and henceforth the creator has planned it appropriately. The best part is on the off chance that you can't get to know the framework, at that point you can benefit from your unconditional promise of 2 months.
After you are buying the Forex Duality, you will be given all the essential exchanging segments and preparing that will assist you with standing as a fruitful member of Forex exchanging. At whatever point you are making some exchange by utilizing the Forex Duality, it will be fruitful, significant, and will happen continuously. The framework contains two prime parts, and it incorporates all the helpful instruments and highlights.
Preparing material
At the point when you will decide on the framework, the absolute first that you will get is the exchanging material. Radiology, who is the cerebrum behind the framework, has made this preparation material astounding in a few fields. Here you will get all that preparation recordings and data that will assist you with getting familiar with the framework and how you can utilize it ideally. The whole course structure is straightforward and applicable, and when you read the manual, everything will be completely clear for you. The preparation recordings are significant and extremely easy to comprehend.
The Tradeology recordings are really useful and will show all of you the exchanging nuts and bolts of Forex. You will likewise be given robotized programming so you will have the option to rehearse how to peruse all the signs and how to keep exchanging by utilizing the framework with certainty. The recordings will likewise show you how to manage online courses and propelled strategies. The best piece of this framework is the expectation to absorb information isn't so steep, so regardless of whether you are an amateur in the exchanging framework or the universe of forex still, it will be basic for you to comprehend. You will get a sufficient measure of data that will guarantee that you are acquiring legitimate aptitudes, and you are getting the possibility of execution of the methodologies gainfully.
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Accelerating Profits System Review 2020

Accelerating Profits System Review 2020

Let me tell you about the best Forex system today.
If yes, answer one of the following questions:
Are you ready to take the earnings of forex trading to a whole new level?
Are you a beginner trader for beginners looking for an easy to understand forex system to help you make profitable deals?
Are you looking to get out of a rat race and want to work from home, earn money online, and enjoy financial freedom?
… So you will benefit from a quick review of the benefits.
Yes, Tradeology is launching an exciting new forex system that will surely have an impact.
This is one of my favorite activities in the game of forex and for good reason.
For those of you who 1) beginner Forex traders or 2) want to make more money in Forex trading, then this is a reading test.
I’m just asking you to spend 5-10 minutes reading the whole message.
More:
Not only will it share the important information you need to know before purchasing it (this system is not for everyone!)
However, we also provide a discount code that you can use to purchase an accelerated earnings system for a limited period of time.
Also, if you wish to purchase this system, be sure to do it as soon as possible.
The company is used to buying its product in a short time …
Usually, nobody notices when they close their systems.
So if you want this system, get it now (until it disappears).
Product: Accelerating Profits
Creators: Tradeology
Product Type: Software (Web-Based Forex System & Downloadable Indicators)
Price:$499 ($449 w/ my 10% discount)
Website:AcceleratingProfit.co
Refund: Full Money-Back Satisfaction Guarantee
Verdict:100% Recommended

Accelerating Profits System Review 2020

This product is the best Forex trading system to date and is required for those who do not yet have six-digit Forex trading.
What does the accelerated benefit include? Like previous trading systems, this product consists of three parts.

1. Vocational training

All Tradeology products include all the training necessary to understand how their systems are used to benefit from Forex trading.
This includes an accelerated result.
Whether you are a beginner or an average Forex trader, the training offered with these systems gives you everything you need to know to use these systems and get the best results.

2. Software and system

The real value of accelerated income is software.
This includes indicators (which can be downloaded at the time of purchase) and the actual trading system (this will follow to make precise trades on the forex market).
The software has been tested and verified with an accuracy of over 90%.
It analyzes the currency pairs for you and gives you entry and exit signals.
All you have to do is do what it tells you to do.
I recommend that you follow the system as planned – don’t try to include your own strategy in the mix.
The software analyzes several currency pairs and markets at the same time. This not only reduces your trading time but also saves you three to five times more money than currently. Analyze a lot more data than people.
(For the sake of clarity, Profit Acceleration is not a forex robot, you always have to do the transactions yourself!)
If you follow the system step by step, you will be successful.
If you have problems understanding the system or installing the software, please contact the technical support in the participant area.

Accelerating Profits System Review 2020


3. Member

Membership is very useful for traders of all levels of difficulty and experience.
Inside you have access to:
Forums Webinars (live and recorded) Video content Access to the Tradeology team technical support
The members’ area will benefit a lot if you are a beginner in Forex trading who still does not earn more than $ 8,000 a month.
#Tradeology #Forex #AcceleratingProfitsSystemReview #AcceleratingProfitsSystem #ForexDuality #ND10X

Accelerating Profits System Review 2020

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Everything about Best Forex Broker in USA 2020 - US Fx Brokers - USA Clients The Best, Biggest, Cleverest Forex trading deal in history The Best Trend Trading Indicator  FREE DOWNLOAD  Value $197 About 9 Best Forex Trading Apps for Android and iOS Phone An Unbiased View of Top 5 Best Forex Managed Accounts for 2020 - MyFinAssets

Best Forex Brokers 2020 Forex is one of the most liquid financial markets that attract more investors year by year. By 2019, the total daily turnover is equivalent to $5 trillion, having grown from $1 trillion twenty years ago. To succeed in the Forex market the investor needs a proven strategy and an expert to teach him how and when to apply the rules . We are proud to provide our clients with an accurate signals based on three strong, proven and profitable strategies that have been established after many researches and tests to suit all market conditions A forex bonus represents an incentive for a retail trader to open an account with that specific broker that is offering it. There are multiple reasons why a broker wants to give you free money in your trading account, and before accepting a forex bonus, one should look for best bonus forex brokers available and chose from that list. The best forex brokers provide a great blend of in-house market analysis as well as tier-1 quality third-party research. Best Forex Trading Apps. While nearly all forex brokers have offered mobile apps for years, the difference in quality between a great app and a mediocre app is vast. In Forex, you cannot buy and buy and buy when the market goes lower, because then you have an immense loss at certain point. Considering the little account, we obviously use a high exposure; hence, if our purpose is to keep a 10% of profits per month, it is normal to accept at least a 15-20% of max Draw Down; however, it may happen that we do

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Everything about Best Forex Broker in USA 2020 - US Fx Brokers - USA Clients

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