The Congress of El Salvador approved, early this Wednesday, the 9th of the law that classifies bitcoin as a legal tender in the country.The decision makes El Salvador is the first country to adopt bitcoin as its official currency.
Salvadoran President Nayib Bukele announced the plan last weekend and is expected to enact the law this Wednesday morning. The idea, according to him, is to increase the dynamism of the economy and make the country more attractive to investors.
“The ‘Bitcoin Law’ was recently passed by the Legislative Assembly with a qualified majority. 62 out of 84 people voted! It’s all in the past! “, the president exulted. “This is a legislation that will place El Salvador on the map, and we’ll be more appealing to global business,” said Congressman Romeo Auerbach, a Bukele supporter.
Anabel Belloso, from the opposition, who voted against the project, lamented that the law “has not been discussed with specialists, nor with patience”: “The law has many implications in the economic sphere and not everyone knows how this will work, leading to considering that cryptocurrencies are volatile in the market, they are unstable,” he said.
With the new law, bitcoin must be accepted as a form of payment by “any economic agent” in the country, excluding those who “It is a well-known truth that they do not have access to the tools that allow them to conduct bitcoin transactions.” Part of country’s population is excited for El Salvador is the first country to adopt bitcoin as its official currency .
For accounting purposes, the US dollar, the official currency of El Salvador, will be used as a reference, but the text states that the bitcoin exchange rate “will be freely established by the market” and that the State will provide alternatives for “automatic and instantaneous conversion between the bitcoin and the dollar” for those who prefer it that way.
According to Bukele, giving bitcoin the status of legal tender in the country aims to generate jobs and increase “financial inclusion for thousands of people outside the formal economy” – according to the president, 70% of the population of El Salvador is currently unbanked.
In addition, the Salvadoran president also said that bitcoin could make it easier for Salvadorans living abroad to send money to friends and family in the country.
Currently, El Salvador’s economy is heavily dependent on remittances sent from other parts of the world, which represent more than 20% of GDP. Data show that more than two million Salvadorans living abroad send around 5 billion dollars each year to their home country, that is the first country to adopt bitcoin as its official currency.
Providers of this type of service charge high fees and operations take days to be carried out. With bitcoin, the cost and timeframe for these transactions would be reduced considerably: “This will improve the lives and futures of millions,” predicts Bukele.
When Bitcoin price is rising, gaining over 40 per cent in value in just over three weeks our cryptocurrency expert Bob Loukas, has provided a key trading tips. As the founder of Bitcoin.Live, the educational cryptocurrency platform for traders, Bob believes that this might be the end crypto distrust, and invites traders to utilize this spike and give trading a go.
1. Trade the Trend
“The trend is your friend” may be the most widely used truism in investing…and it’s directly applicable to the study of Cycles. With Cycles, we attempt to identify significant Lows that mark the start of new trends. If you always trade with the trend and never trade against it, you’ll significantly increase your odds of trading success. The most important of all trading tips.
Trading a trend with Cycles is fairly straightforward in concept – if a longer-term Cycle is moving up, buy the troughs of a shorter Cycle; if a longer-term Cycle is moving down; sell the tops of a shorter Cycle.
2. Work for Optimal Trade Entries
Optimal trade entries are those that occur when the underlying asset is finding its Investor Cycle Low. These lows occur 2-3 times per year, generally after frightening drops, and most often in concert with major, trend-changing events. Trade entries at these lows typically have strong risk/reward profiles.
3. Stop Losses
Another trading tip: each position must have a stop loss. Know when to cut your losses and never be afraid of missing a rally. If the position is going against you, get out and regroup. Leaving a trade with a small loss is easy but allowing a small loss to balloon into a large one is inexcusable and sets the scene for a catastrophic loss in a portfolio. Too many investors stubbornly hold onto losing positions rather than admit that price did not move as they thought it would.
4. Protect Capital First…Then Worry about Winning Trades
A natural extension of #3, protecting capital is the single most important step in wealth management. All the winning trades and associated gains are worthless if you give them all back through a few lousy portfolio-busting trades.
Avoiding losses is about letting go of the idea that each trade must be a winner. Once you understand that you won’t, can’t and don’t need to win every trade – and that missing a rally is just fine – you’ll be able to exit trades without regret while losses are still small. And if you ensure that your losses are small, you can be successful with only modest winning trades.
5. Position Sizing
Keep your positions in check relative to your overall portfolio size. Learn to fully understand each trade, especially its setup and probability of success. Since no two trades are alike, you should adjust your position size according to the risk/reward profile of each trade. Also, be sure to track your trading results – when you’re doing well you can be more aggressive and when results have been mixed, you should trade more modestly.
6. Leverage and Options
Unless you’re a true expert, avoid significant leverage. The only times you should consider leverage or options are at the beginning of new Secular or Investor Cycles. This is because the odds of success are the greatest at these key Cycle Lows. Plus, a nearby Cycle low offers a tight stop.
7. Investing with a Plan
Trading without a plan is a proven losing strategy. Whether you follow the Market Cycles via The Financial Tap or some other system, you must always have a plan in place which includes trade size, conditions for entering a trade, and reasons for exiting a trade. Think through them all in advance so that, no matter the market conditions, you’ll know how to respond. Also make sure to ask yourself some key questions: “Why am I buying/selling here? Does this fit my plan/strategy? Am I likely to question the trade (for non-plan compliance) in the future?”
Trades go against investors all the time, even when the trades were entered via a well-defined strategy and according to a preset plan. Losing trades are normal – they are the price of trading. Losses provide you with the opportunity to tweak your strategy and improve your plan.
8. Treat Investing Like a Business
One of the most important trading tips is that. In order to be successful, one must approach trading and investing as a business and not as a hobby. Investing should be one of the most important aspects of your life, right after spirituality, family, relationships, and personal healthcare. You’ve likely spent years working to earn your wealth; you need to treat your wealth with the respect it deserves.
Understand what you’re investing in, why you’re investing, and what your expectations should be. Never solely rely on an online service, advisor, index fund, or wealth manager. Take control of your personal financial future, get educated, and understand where every dollar of your wealth is invested.
9.Don’t Force a Trade – Wait For an Optimal Trade Setup
Even the most experienced investors have to fight the urge to trade unnecessarily. For a variety of reasons, investors generally overtrade…and thereby greatly diminish their overall returns. That’s why this trading tip is so important.
It’s better to wait for an optimal trade setup – one that fits your trading plan; These trades have much greater probability of success than trades taken impulsively. Over time, taking higher probability trades will provide a much higher winning percentage and far greater portfolio returns.
10. Trade within Your Means
Trading is as much about avoiding significant losses as it is making gains. Significant losses are difficult to overcome and can directly affect your quality of life. There are NO shortcuts to financial success and the freedom it affords. Success in the markets must be earned. Only trade with money that you can comfortably lose. Never trade with borrowed money (credit cards/line of equity/margin), have patience, and be realistic with your expectations. Hope you have enjoyed those trading tips.
Despite China’s ban on digital asset investment, a news report that crypto trading remains active across the country. Chinese investors have found access to cryptocurrency products through its neighbour Hong Kong and off-shore exchanges, according to specialized site 8btc.com.
Mainland investors, those whom the ban policy affected the most, have relied on their trading enterprises through and “have been able to circumvent a ban on crypto trading through the utilization of VPNs and stable coins such as Tether (USDT), to trade cryptocurrencies on global exchanges,” said Joseph Young reporting a Hong Kong-based publication South China Morning Post released on September 8.
Another source, this time from Shanghai-based cryptocurrency startup InVault CEO Kenneth Xu, confirmed what was published by the SCM and has settled that chinese investors from inland remain active while relying on offshore exchanges and operators, most of them based in Hong Kong, to purchase cryptocurrencies like bitcoin and Ethereum.
Chinese government has been very strict on what can be traded or not within their frontiers and have passed through some severe regulations to stop the growing crypto-trading. In July, the People’s Bank of China (PBoC) appeared buoyant about its ban policy reducing China’s cryptocurrency trading to less than one percent of global volume.
After that, the government started to chase and close exchanges operating within Chinese territories, they even went after those who were settled off-shore. In an interview with SCMP, Hong Kong and Taiwan-based digital asset exchange executive Terence Tsang said that the tightening of regulations by the government was targeted at exchanges that pretended to be based outside of China but were actually operating inside the country, which is very important for chinese investors.
“The latest warning and potentially increased monitoring of foreign platforms is targeted at a batch of smaller exchanges that had claimed to be foreign entities, but are in fact operating in China claiming they have outsourced their operations to a Chinese company,” Tsang said.
To eliminate the possibility of exchanges operating in mainland, the government requested Alipay, the largest fintech network in the world valued at more than $60 billion, to suspend or block accounts suspected to be connected to cryptocurrency exchanges. After that, on August 23, the government reported to have blocked 124 offshore exchanges
The move came the same week as Beijing forbade venues including hotels, shopping malls, and offices from promoting or hosting events supporting cryptocurrency. A separate ban governing eight crypto media outlets has also come into effect, Bitcoinistreported.
According to Shanghai Securities News, central authorities “will also continue to monitor and shut down domestic websites related to cryptocurrency trades and initial coin offerings (ICOs), and ban payment services from accepting cryptocurrencies, including bitcoin.”
Still, the government is struggling to completely ban out trading in offshore markets, especially in Hong Kong. In theory, local financial authorities could engage with commercial banks and evaluate every suspicious wire transfer made from China to neighbouring countries.
The government has made it as uncomfortable and uneasy as possible for investors to allocate their holdings in yuan and other assets into cryptocurrencies. But, it has proven to be difficult to outright ban cryptocurrency trading.
Bitcoin will lose 50 per cent of its cryptocurrency market share to Ethereum within five years, states an influential tech expert and business analyst. For his opinion Ethereum will end up overtaking Bitcoin.
The comments from Ian Mcloed, from Thomas Crown Art, the world’s leading art-tech agency that he established with renowned art dealer, Stephen Howes, comes as Ethereum, the world’s second-largest cryptocurrency by market cap, began a price recovery on Friday after being hit hard with a major sell-off in recent weeks.
Indeed, Ethereum had crashed 85 per cent overall this year.
However, Ethereum is regained ground late last week, jumping almost 14 per cent after its most recent plunge, only find itself trading again 10 per cent lower once more in the past 24 hours.
What is happening? And what does the future hold for Ethereum?
Mr Mcloed observes: “Turbulence is a regular, and sometimes welcome, feature of the crypto sector. Therefore, the Ethereum rebound was, and is, inevitable.
“But not only do we think it will rebound considerably before the end of 2018, I believe that over the longer time it will significantly dent Bitcoin’s dominance.
“In fact, I think we can expect Bitcoin to lose 50 per cent of its cryptocurrency market share to Ethereum, its nearest rival, within five years.”
Why is he so confident?
“Simply, Ethereum offers more uses and solutions than Bitcoin, and it’s backed with superior blockchain technology” says Mr Mcloed.
“This is why we use Ethereum’s blockchain in our art business. It has allowed us to create a system to use artworks as a literal store of value; it becomes a cryptocurrency wallet.
“It also solves authenticity and provenance issues – essential in the world of art. All our works of art are logged on the Ethereum’s blockchain with a unique ‘smart’ contract.”
Last month, Stephen Howes explained: “Using this cutting-edge technology, the art world can eradicate one of its biggest and most expensive problems – forgery – and can protect artists, galleries, and private owners and collectors.”
Ian Mcloed concludes: “Whilst there will continue to be peaks and troughs in the wider cryptocurrency market, due to its inherent strong core values, Ethereum will steadily increase in value in the next few years and beyond.
“Unless Bitcoin does more now to tackle scalability issues, and improves the technology it runs on, we cannot see how it can catch up with Ethereum over the next five years or so, when the crypto market will be even more mainstream.
Again, is means Ethereum will end up overtaking Bitcoin: “Ethereum is already light years ahead of Bitcoin in everything but price – and this gap will become increasingly apparent as more and more investors jump into crypto. ”
We have seen inflation rising in the UK in the past few months. The expectation is that the UK’s inflation will continue.
Market prices are growing at their highest pace since March 2020, when the pandemic began, when they jumped to 1.5 percent from 0.7 percent in March.
According to the Office for National Statistics, the dramatic rise was largely due to a surge in prices from low levels at the onset of the pandemic a year ago.
Higher oil prices have forced up gasoline prices, according to the study.
When oil prices rise, you should expect the price of gas to rise as well. Over time, a $10 raise in oil prices leads to a $0.25 increase in petrol prices. Three forces influence gas and underlying oil prices: supply and demand, commodity brokers, and the valuation of the dollar.
The ONS reports that UK’s inflation increased after lockout controls were lifted and stores reopened on April 12th. Clothing and footwear costs increased in March, after an unexpected drop in February.
Meanwhile, gas and energy rates have risen sharply after a raise in the default tariff ceiling, relative to a cut a year ago.
As lockdown controls relaxed and the economy reopened, PwC economist Hannah Audino predicted that inflation would increase further, enabling customers to “unleash some of their excess savings.”
“New survey data shows that, as the vaccine rollout raises optimism, the share of households planning to invest some of their savings has risen in recent months,” she said.
Economists have expected an increase in UK’s inflation in April, but there are fears that high inflation this year as the global economy recovers from the pandemic would force central banks to lift interest rates.
As the pandemic is affecting most economic sectors, we must wait for the global health situation to stabilize to see how inflation rates will be affected.
After managing to recover part of the losses from Wednesday’s downfall, Bitcoin falls sharply again early Friday afternoon (21) after the State Council of China issued a note on a discussion to crack down on mining and cryptocurrency trading in the country.
At 16:30 (London time), Bitcoin was down 9.8% in the accumulated 24-hour period, quoted at US$ 37,706. The cryptocurrency lost more than US$ 4,000 in value in about half an hour after the news.
In a statement by Chinese Vice Premier Liu He and the State Council, officials said stricter regulation is needed to protect the financial system. This was the first time that a high government body discussed the matter.
The statement, released on Friday night in China time, said it was necessary to “crack down on mining and bitcoin trading and prevent the transmission of individual risks to the social field”.
Bitcoin falls a day after American authorities promised to be tough on those who use Bitcoin to carry out “illegal activities, including tax evasion”. The Treasury Department has said it will require reports on crypto trades in excess of US$ 10,000, just as it does with cash.
China, on the other hand, shows a concern with several other issues. “It is necessary to keep the stock, debt and foreign exchange markets going smoothly, to severely repress illegal securities activities and to severely punish illegal financial activities,” the statement said.
Chinese officials said stricter regulation is needed to protect the country’s financial system in the face of the fall of Bitcoin
China’s stocks rise and closed higher on Tuesday, led by gains in energy and transportation companies, although Chinese-American tensions have limited further gains.
The CSI300 index, which includes the largest companies listed in Shanghai and Shenzhen, had a positive change of 0.05%, while the Shanghai index increased by 0.32%.
The energy sub-index and the transportation sub-index closed up 2.0% and 2.8%, respectively.
The United States Senate voted 86-11 on Monday to open debate on a measure that would allocate more than $ 110 billion for basic and advanced technology research over five years in the face of increasing competitive pressure from China economy.
In TOKYO, the Nikkei index advanced 2.09% to 28,406 points.
In HONG KONG, the HANG SENG index rose 1.42% to 28,593 points.
In SHANGHAI, the SSEC index gained 0.32% to 3,529 points.
The CSI300 index, which includes the largest companies listed in SHANGHAI and SHENZHEN, increased 0.05%, to 5,187 points.
In Seoul, the KOSPI index appreciated by 1.23%, to 3,173 points.
In TAIWAN, the TAIEX index increased by 5.16%, to 16,145 points.
In SINGAPORE, the STRAITS TIMES index appreciated 2.04%, to 3,142 points.
In SYDNEY, the S&P/ASX 200 index advanced 0.60%, to 7,066 points.
As the Chinese retail sector recovers from COVID-19-induced market caution, China said it will begin a series of promotional events in May, including a new consumer goods expo in southern Hainan province.
The scenario may still be changing during the week and affect the Asian economy which may have an effect on China’s stocks rise
Mark Ward, head of trading at Sanlam UK, said: “What a Bitcoin (and its rivals) is, can be thought of just as virtual money, used to buy and sell items, as you would in a shop with a five pound note – they are simply a means of exchange – it allows barter to occur online, in a virtually fraud-proof way. Whereas a central bank stands behind and stabilises traditional currencies (in the past one could exchange notes for gold should you ask the Bank of England, and UK bank notes still contain a “promise to pay the bearer” from the UK government itself), there is no bank, corporation or government acting as a backbone to Bitcoin. This is why the value of cryptocurrencies are so volatile – its value derives from the confidence in the market that tomorrow, the Bitcoin will not be worthless, and it help us to understand why Bitcoin is a commodity.
“Bitcoin is not truly a currency, at least not yet, and is best thought of perhaps as a commodity. The Dutch Tulip Mania in the 1600’s saw the price of a special type of tulip bulb rise to more than the cost of a house with an acre of land in the Netherlands, yet the intrinsic value and usefulness remained essentially nothing. But, as with cryptocurrencies, if people decide something has value, then it has value, and only time will tell if Bitcoin is another tulip-mania in the digital world, or will deliver on its promise to displace central banks and hard cash as the primary means of exchange in the future.
“One question that we often get asked at Sanlam is – “I don’t know how to mine Bitcoin, I don’t actually want to use it as currency, but I want exposure to it”. The easiest way to gain exposure to Bitcoin would be via an Exchange Traded Fund (ETF). That said we do not recommend Bitcoin as part of an investment strategy, as it has many characteristics of a bubble and something that we view as purely speculative.
“As for the future of crypto-currency, it largely comes down to three factors: whether or not Central Banks and governments release their own versions and make them the only legal tender, on indeed officially endorse a crypto-currency like Bitcoin, whether or not transaction processing speeds up from the current average of four days, and if the price volatility can be stabilised.
“Whether Bitcoin falls to near-zero like the aforementioned tulip, continues to rise like diamonds have over the past century, or simply holds steady once the market finds the level it can tolerate, is anyone’s guess at the moment, but it is certainly one to watch as it becomes better understood by the mainstream.” That opinion show us that Bitcoin is a commodity
Trading quotes to help tu understand this world. Trading requires a strong, clear mind to be able to see the opportunities and also the threats. For that, a good trader not only relies on his trading knowledge, but on his ability to foresee how a market is going to react to any given external stimulus. If he isn’t able to control his impulses, he might end up losing everything or making decisions that will drive him to that point. Skill and mental state have to go hand in hand to be successful in trading.
These trading quotes will surely help a trader to become profitable and understand that hidden mental game that underlies behind any trading endeavour:
1. “The financial markets generally are unpredictable. So that one has to have different scenarios… The idea that you can actually predict what’s going to happen contradicts my way of looking at the market.”
― George Soros, billionaire, trader and investor
2. “The markets are always on the side of exuberance or fear. It’s fear and greed. Right now greed has the better of it, which is rather nice (for investors) as long as it doesn’t get out of hand”
― George Soros, billionaire, trader and investor
3. “It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.”
― George Soros, billionaire, trader and investor
4. “Once we realize that imperfect understanding is the human condition there is no shame in being wrong, only in failing to correct our mistakes.”
― George Soros, billionaire, trader and investor
5. “The worse a situation becomes, the less it takes to turn it around, and the bigger the upside.”
― George Soros, billionaire, trader and investor
6. “If investing is entertaining, if you’re having fun, you’re probably not making any money. Good investing is boring.”
― George Soros, billionaire, trader and investor
7. “I’m only rich because I know when I’m wrong…I basically have survived by recognizing my mistakes.”
― George Soros, billionaire, trader and investor
8. “My approach works not by making valid predictions but by allowing me to correct false ones.”
― George Soros, billionaire, trader and investor
9. “Trading doesn’t just reveal your character, it also builds it if you stay in the game long enough.”
― Yvan Byeajee, Paradigm Shift: How to cultivate equanimity in the face of market uncertainty
10. “Money is just something you need in case you do not die tomorrow. Let this is a reminder for you not to obsess over profits and losses. In whatever you do, strive for enjoyment, focus, contentment, humility, openness… Paradoxically (and as an unintended consequence) your trading performance will improve significantly.”
― Yvan Byeajee, The essence of trading psychology in one skill
11. “The expectation that you bring with you in trading is often the greatest obstacle you will encounter.”
― Yvan Byeajee, Paradigm Shift: How to cultivate equanimity in the face of market uncertainty
12. “Confidence is not “I will profit on this trade.” Confidence is “I will be fine if I don’t profit from this trade.”
― Yvan Byeajee, The essence of trading psychology in one skill
13.“The goal of a successful trader is to make the best trades. Money is secondary.”
– Alexander Elder, professional trader and teacher of traders
14. “Events, circumstances, and experiences arise and pass away. Winning trades, losing trades, fear, greed, sadness, happiness, and eventually your own life. Everything is in a constant flux. Learn to go through it with stability of mind. A meditation practice helps a lot.”
― Yvan Byeajee, Zero to Hero: How I went from being a losing trader to a consistently profitable one – a true story!
15. “Losers average losers.”
― Paul Tudor Jones, one of the greatest traders in history
16. “Where you want to be is always in control, never wishing, always trading, and always, first and foremost protecting your butt.”
― Paul Tudor Jones, one of the greatest traders in history
17. “A quiet mind is able to hear intuition over fear.”
― Yvan Byeajee, Zero to Hero: How I Went from Being a Losing Trader to a Consistently Profitable One
18. “All statistics have outliers. Money management, therefore, is key to the process of good trading.”
― Yvan Byeajee, Paradigm Shift: How to cultivate equanimity in the face of market uncertainty
19. “Trading mastery is a state of complete acceptance of probability, not a state of fight it.”
― Yvan Byeajee, Paradigm Shift: How to cultivate equanimity in the face of market uncertainty
20. “Don’t ever make the mistake of believing that market success has to come to you fast. Trade small, stay in the game, persist, and eventually, you’ll reach a satisfying level of proficiency.”
― Yvan Byeajee, Paradigm Shift: How to cultivate equanimity in the face of market uncertainty
21. “Freedom from blind reactivity begins with self-awareness.”
― Yvan Byeajee, The essence of trading psychology in one skill
22. “Money matters, but not as much as you probably think.”
― Yvan Byeajee, The essence of trading psychology in one skill
23. “Win, loss whatever emerges in the short-term, place and manage your next trades untouched, unattached… always keeping your eyes on the long-term picture.”
― Yvan Byeajee, The essence of trading psychology in one skill
24. “When you learn to let go of the need to be right, being wrong gradually lose its power to disturb you.”
― Yvan Byeajee, Paradigm Shift: How to cultivate equanimity in the face of market uncertainty
25. “Focus, patience, wise discernment, non-attachment —the skills you acquire in meditation and the skills you need to thrive in trading are one and the same.”
― Yvan Byeajee, Zero to Hero: How I went from being a losing trader to a consistently profitable one – a true story!
26. “Reaching any goal in trading requires specific domain knowledge and technical skills. But then, after that, it’s all mindset management. Yet most people ignore that —they automatically think they have that last part all figured out, and it’s a mistake.”
― Yvan Byeajee, Paradigm Shift: How to cultivate equanimity in the face of market uncertainty
27. “The process by which one accumulates money is so simple, yet so hard to implement for most.”
― Yvan Byeajee, The essence of trading psychology in one skill
28. “Genuine acceptance that there will be losses on your way to market success will greatly decrease the hurt when they eventually come.”
― yvan Byeajee, The essence of trading psychology in one skill
29. “Ultimately, consistent profitability comes down to choosing between the discomforts you feel when you follow your plan and the urge to let yourself be captures ( and ruled) by your emotions.”
― Yvan Byeajee, The essence of trading psychology in one skill
30. “There are no guarantees in trading. The sooner you accept that you sooner you can release your expectations and focus unconditionally on a proven process.”
― Yvan Byeajee, The essence of trading psychology in one skill
31 “Trading the markets is a totally self-centered activity. Nobody’s life gets better because you trade. Except your broker’s life.”
― Robert Rolih, The Million Dollar Decision: Get Out of the Rigged Game of Investing and Add a Million to Your Net Worth
32. “Always make confident that you are wise with choosing the services for your trading activities. Ensure that you will get the most reliable predictions available today.”
― Pam Sotiropoulos, a professional forex trader
Those are inspiring trading quotes for help us to trading day by day. But consider the following one.
Bonus Trading Quote
One of the most important trading quotes:
“The biggest risk is not taking a risk. In a world that’s changing really quickly, the only strategy that is guaranteed to fail is not taking risks.”
– Mark Zuckerberg, Founder of Facebook
We’ll come with more trading quotes on future articles. Keep following us.
Emerging as a new online currency and a most suitable option for trading, Bitcoin is an anonymous, peer-to-peer, electronic payments system, and it is important to see it in a currency converter. Created in 2009, the Bitcoin network was originally intended to offer a means of payment through a peer-to-peer version of electronic cash. The idea was to enable online payments to be sent directly from one party to another thus bypassing financial institutions altogether. Bitcoin today is a currency trading platform in which digitally signed bitcoins are sold and purchased at a variable price of the currency. Generally 1 BTC is traded between $100 and $260.
Now highly regarded as mainstream due to recent economic woes, even major forex players are getting in on the act. Forex broker OANDA announced yesterday that it has added bitcoin into its currency converter, via a blog posting by VP of Trading, Courtney Gibson. Gibson states “We recently added Bitcoin to the OANDA Currency Converter. We admire it as an interesting experiment in financial innovation and, because we’re financial innovators too, we share the excitement such disruptive technologies can bring to mature industries and markets.”
Oanda states that Bitcoin appealed to their sense of great customer service. ‘Now, anyone who wants to calculate the conversion of currencies (or gold and silver) into Bitcoin can use OANDA’s popular converter as their tool of choice’ So thats the good news. The blog posting was quick to point out that “Despite the increased awareness around the cyber currency, OANDA has no plans at this time to introduce Bitcoin as a tradeable currency to OANDA’s fxTrade platform, or to accept Bitcoin as a method for funding fxTrade accounts. By adding Bitcoin to our Currency Converter, we are acknowledging – in a very real way – the wide-ranging interest Bitcoin has generated as a virtual payment system.”
Thus far, with the exception of of IG’s bitcoin binary product launched last week, major forex brokers have yet to offer major bitcoin offerings due perhaps to uncertainty or monitoring for stability which will only come when trade volume (on the USD/other fiat side) increases, and network infrastructure improvements can be addressed.
QuantConnect – where cloud computing meets open data for Algorithm Trading.
QuantConnect, a radical FinTech open data trading startup was established In 2011 with an ambitious goal: offer open trading data algorithm technology to mainstream audiences. QuantConnect follows the concept of open data philosophies that data should be freely available to use and republish as necessary, without restrictions from copyright, patents or other mechanisms of control. The founders aim to empower the general public with powerful tools to make trading and investment accessible through advanced technology to general audiences.
Jared Broad, QuantConnect co-founder and CEO won a Start Up Chile grant In 2011 and since that was invited to the TEDx Wall Street event and Battle of the Quants in New York (April 2012). In this last conference founded focusing exclusively on the growing quantitative hedge fund community and industry, by the hedge fund visionary Bartt C. Kellerman’s Global Capital Acquisition in 2006, Jared has been displaying his vision of a further advanced trading platform that can push the boundaries of algorithm trading, using the most advanced technologies to offer open data.
QuantConnect, offering: Equity, FX tick, Earning predictions, and Twitter Sentiment Analysis
Offering US equities tick data going back to January 1998, and updated daily with latest market data QuantConnect displays over 16,000 stocks, in an open library of data provided by QuantQuote. Besides this it offers an impressive FX tick data on 13 major currency pairs going back to April 2007, and updated daily with most recent market provided by FXCM.
With another deal with Estimize QuantConnect provides quarterly earnings predictions generated by a community of 13,000 traders and investors. Through the data from Estimize that goes back early 2011 and covers most stocks QuantConnect manages an impressive better than most of Wall Street’s predictions, such as 69% of the time better performance!
Last but not least through a partnership with StockPulse QuantConnect provides Twitter Sentiment Analysis to identify the most relevant capital market moods, rumors, and market-moving trends with it offering a valuable array of trading ideas and signals on every traded asset in the world.
QuantConnect startup seeded in Chile and New York
QuantConnect is a new trading and investment cloud-based algorithm service and community startup that was seeded between Chile and New York. The company aims to level the playing field for independent traders by providing the right technology tools to design and execute present and future proof trading strategies, and back-test their programs using historical market data.
The project is the brainchild of Jared Broad, serial entrepreneur born in New Zealand, founder of automated trading firm Stocktrack.org, and Shai Rosen, founder of Chilean auction website Ganeselo.com.
The service has been in the beta-testing stage for the past year with programmers including graduate students interested in pursuing a career in quant trading, and computer scientists from leading financial firms. The firm has been working quite hard in its disruptive strategy and has signed up thousand of prospective clients in its community platform and raise its profile at conferences such as Finovate in London and TechCrunch in San Francisco. During the process the firm has been creating an unique space in the algorithm trading industry, including the respect and support of employees of Google and Facebook. Tshe recent partnership with high profile trading global players such as FXCM and tech innovators such as Estimize and StockPulse gives them an unique outstanding spot.
The Plan
Looking further ahead, the firm has plans to set up a hedge fund based around the most successful managers, marketing individual strategies to retail investors via online brokerages, and packaging the best algorithms as an exchange-traded fund.
Although QuantConnect appears to have first-mover advantage in what could be a very lucrative market, they have at least one potential competitor in the form of Quantopian, which is working on a similar offering. The Boston-based technology shop has the backing of VC investor Spark Capital and high-frequency market maker Getco.
The Technical Nitty-Gritty
Unlike MT4, which uses the proprietary MQL4 programming language for its algorithms, Quantconnect uses the C# programming language, a general-purpose object-oriented language derived from the popular C/C+/C++ family of languages. Programmers can design and back-test their strategies for free, using vast cloud computing power leased from Amazon.com, and will only be charged when they want to make trades with their strategies by setting up trading accounts.
Instant access to this massive computing power means that a simulation based on 30 stocks in the Dow Jones Industrial Average could be run in a matter of minutes. By comparison, the same calculations on the average desktop computer would take several days to compute.
Applying principles of openness and transparency in all aspects QuantConnect is creating a spot in a high competitive and disruptive part of the global financial and trading world. For that QuantConnect defines themselves as an innovative company giving any advanced algorithm trader or a complete access to an enormous library of financial and capital markets data, thanks to a generous network of data partners for providing the right resources.
Apple Invests USD 1 Billion in China-Based Ridesharing Company.
In a day where the legendary Warren Buffet invested in Apple there are two things we know now about Apple: First, the company is serious about cars. Second, it’s ready to start looking beyond the iPhone.
Apple and cars
While it has remained mum on just about every rumor about its ambitions to build a proprietary car, Apple made an unprecedented decision to invest $1 billion in the “Uber of China,” Didi Chuxing.
So why would Apple put a billion dollars into a non-tech, non-consumer electronics company? Autonomous vehicles.
China has moved surprisingly rapidly to get autonomous cars on the streets. The country’s government recently released a draft proposal that would allow driverless cars on the country’s highways in 2020 and on city streets by 2025. Since Apple wants to create its own driverless cars, where better to invest than the largest car market on earth, which also happens to be the most progressive market in terms of getting driverless cars on the streets?
Apple’s product slowdown
We’ve said it before. Apple invests and has finally reached a plateau in terms of innovation. Despite releasing several new products and services over the last few years — i.e. Apple Music, Beats Music, Apple Watch, Apple TV etc. — there hasn’t been anything compelling enough to turn into one of the company’s next big things. The trifecta of the iPhone, the iPad and the Mac is no longer what it once was. And the iPhone made up 65% of the company’s revenue during the latest quarter.
Considering Apple has never really invested in startups — if it sees something it likes, it just buys it to add it to its own fold — it sounds like Tim Cook is finally ready to admit that the Apple as we knew it is gone. Now it’s time for Apple to start using its cash to invest and hopefully insulate the company enough in case of an iPhone slowdown too.
Wooing China
Another potential reason for the investment is for Apple to get back on China’s good side. After all, why not just invest in Uber, which recently entered the Chinese market?
Apple has had some challenges in China recently. With smartphone sales for the company shrinking in the country, it lost an iPhone trademark dispute and has had some of its online entertainment services suspended following pressure from the Chinese government.
Of course, Apple’s not the only U.S.-based company struggling to cozy up to Chinese government officials. Dropbox, Google, Twitter and Facebook have all been banned from the country, likely due to the fact that they compete with Chinese tech companies.
Thus, one of Cook’s strategies could show that Apple is willing to get its own skin in the game in favor of China-based companies to show its dedication to the country’s own economic success. Whether that move makes a difference or not, of course, remains to be seen. As we’ve all seen before, the Chinese government is quite arbitrary in its decisions when it comes to U.S.-based tech companies.
One thing is for certain, however: Apple has entered a new frontier.
APPLE Stock last year May 2015 to May 2016, source Yahoo Finance
Zug-based investors CV VC, in collaboration with consultancy PwC Strategy& Switzerland and technology provider inacta, has compiled the first ever list of the top 50 companies in Crypto Valley. It reveals that Blockchain companies employ around 3000 people in Switzerland and Liechtenstein and have a combined market capitalization of US$ 44 billion. Included among the top 50 are five unicorns – startups with a market valuation of over a billion dollars.
The number of companies in Crypto Valley working with blockchain technology is growing rapidly. As of September 30, 2018, a total of over 600 blockchain related companies in Switzerland and Liechtenstein were registered on CV Maps, an online directory of the blockchain industry created and maintained by CV VC. The number is nearly double that recorded in the spring of this year.
CV VC, a blockchain-focused investor and incubator in Zug, has worked with PwC Strategy& Switzerland and the information management firm inacta to identify the top 50 Crypto Valley companies based on CV Maps data.
Strong capital base
Companies qualifying for this crypto super-league must meet three criteria: Firstly, blockchain technology has to be part of the company’s core business, secondly, it must employ more than one person in Switzerland or Liechtenstein, and lastly, it should make some contribution to the blockchain ecosystem and the wider Crypto Valley community. There are three additional criteria, at least one of which must be fulfilled: Funding in excess of US$10 million, a valuation of more than U$10 million or the provision of at least 10 full-time positions in Switzerland or Liechtenstein.
CV VC’s report sheds light on the various sub-sectors of the industry, their market capitalization and their headcount.
There are three additional criteria, at least one of which must be fulfilled: Funding in excess of US$10 million, a valuation of more than U$10 million or the provision of at least 10 full-time positions in Switzerland or Liechtenstein
Some highlights at a glance:
At the end of September 2018, CV Maps directory contained over 600 companies working with blockchain technology (directly, or as a service provider, such as specialized consultancies, law firms, blockchain organizations and academic institutions).
According to CV Maps database, Blockchain companies employ around 3000 people in Switzerland. The Top 50 alone counts 443 employees. Most companies employ many more people abroad.
The Top 50 companies together have a market capitalization of around US$ 44 billion, however the consolidated value of the sector overall can only be estimated, as many companies do not publish exact data.
The Top 50 companies have a very strong capital base, especially compared to other startups. Many of them have funding in the tens or hundreds of millions.
Five Blockchain Unicorns are either based in or have originated from the Crypto Valley: Bitmain, Cardano, Dfinity, Ethereum and Xapo.
Crypto Valley contains a large subset of the blockchain industry, from health tech to data analytics to e-government. Two secondary areas feature in the top 50 list: the first is broker, trade & exchange and the second is platform & protocol. Each is represented by 11 companies. Other sub-sectors that include many companies are hardware & middleware as well as community, P2P & loyalty.
In addition to CV Maps’ own databases, data used to compile the Top 50 was drawn from information provided by the companies themselves, from crypto exchanges, media reports and social media such as LinkedIn. Where no information was available, estimates were made and declared as such in the CV VC Report. Estimates of worth were rounded into four categories: $10 million, $25 million, $100 million and $1000 million ($1 billion).
“The Top 50 report shows that Crypto Valley has retained its appeal as a location for blockchain companies from all sectors” said Ralf Glabischnig, founder and managing partner of information management firm inacta, which built the CV Maps database.
The new information provided by CV Maps sheds light on the rapid growth rate of Crypto Valley. At the time of its April 2017 launch, the online directory contained 350 companies, just over half as many as there are today.
The new information provided by CV Maps sheds light on the rapid growth rate of Crypto Valley. At the time of its April 2017 launch, the online directory contained 350 companies, just over half as many as there are today
Partnership with PwC
CV VC’s collaboration with PwC in developing the Top 50 report is part of a long-standing strategic partnership between the consulting firm and CV Labs, the CV VC’s co-working space in the center of Zug.
Daniel Diemers, PwC Strategy& EMEA Blockchain Leader, said: “Crypto Valley has grown enormously in just three short years. Even two or three years ago, there were just 10 to 15 companies in the blockchain industry. PwC was quick to realize the potential of Blockchain and how it is important for companies to understand the technology and to get close to innovative startups in the field“.
“Partnering with CV Labs and CV VC gives our clients this access. From the other direction, we also want to bring startups closer to potential investors and partners“, said Daniel Diemers. PwC has a global team of 2,000 blockchain specialists.
CV Labs, CV VC’s coworking space in the heart of Zug, is home to a growing number of blockchain startups, crypto funds, academic institutions and industry group The Crypto Valley Association since the beginning of 2018. With more than 100 tenants, Crypto Valley Labs has grown fast, opening two new floors of office space in September. “The strategic partnership with PwC shows that established companies are now entering the blockchain industry,” said Mathias Ruch, CEO of CV VC.
Risk reversals reflect the expectation of the market in terms of the direction of an exchange rate. When used in the correct context, risk reversals can be highly useful for generating potentially profitable overbought and oversold signals.
A risk reversal is a combination of a call and a put option on the same currencym withe the same expiry (one month) and the same sensitivity to the underlying exchange rate. They are quoted in terms of the difference in volatility between the call and the put options. Theoretically, these two options should have the same implied volatility, but in practice they often differ, and this difference can be a useful indicator.
Guide to Forex Options Trading Part 9: Risk Reversals
If the number is positive, it shows that the market expects the underlying currency to move upwards in price, and that calls are therefore preferred to puts by the market. Similarly, a negative number shows that puts are preferred to calls, and that the market expects the underlying currency to move downwards in price.
Risk reversals are useful in terms of their ability to poll the market, with a positive risk-reversal number implying that the majority of market participants are voting for a rise in the currency rather than a drop. Therefore, they can be used as a tool for evaluating positions on the forex market.
Although the signals that a risk-reversal system generates are not always completely accurate, they can tell you whether the market is bullish or bearish overall. They convey the most information when they have relatively extreme values. An extreme value could be defined as being one standard deviation beyond the averages of positive and negative values. For negative risk-reversal numbers, you are looking for values of one standard deviation below the average, and for positive numbers you are looking for values one standard deviation above the average.
Risk reversals give contrarian signals when they are at these extreme values. This is because when the entire market is positioned for a rise in a certain currency, it makes it harder for that currency to rise, and much more prone to falling as a result of negative news or market events.
A big positive risk-reversal number implies a situation where the currency is overbought, and conversely a big negative risk-reversal number indicates that it is being oversold. While the buy or sell signals that risk reversals are not perfect, they can at least give you some extra information with which to inform your trades.
If you are new to the world of trading, there is a lot you need to learn before you can start making winning trades. While most of this learning involves trading strategies and tricks, you also need to learn a bit about the trading environment. One of the first things in the trading environment you should get familiar with is the trading room. Knowing what a trading room actually is and what happens in these rooms is important if you want to have control over your trading attempts. So, here is a detailed explanation of what trading rooms entail.
Trading Rooms
In the context of financial markets, a trade room is an office space where buying and selling of financial products is carried out. People working in this trading room, making these sales and purchases, are known as traders. These trading rooms can be found in the buildings of most trading organisations and stock exchanges. In addition to that, you can also find trading rooms in other companies like brokerages and investment banks. Due to the hectic and chaotic nature of trading rooms, they are also often referred to as “the pit” in a company involved in trading activities. The other terms that are often used to describe trading rooms are “front office”, “trading floor” and “dealing room”. These trade rooms are often the first to be equipped with the latest technologies an organisation decides to invest in.
Origin
The trading rooms became popular in the late sixties and early seventies. Before that, capital markets had several split departments located at different sites based on market segments like bond markets, exchange, foreign exchange and money markets. The concept of the trading room was based on the need of a single space where all these different financial products could be traded at the same time. The aim behind bringing these departments to a single site was to make broadcasting of market information more efficient so that traders can react to the latest changes and trends more quickly. The traders also wanted to improve desk coordination to provide a better trading experience to the customers.
Popularity
The trading rooms were first established in the US in 1971 when the NASDAQ index was created. It was between 1982 and 1987 that trading rooms gained popularity across Europe. Two financial market organisation reforms introduced simultaneously in France and the United Kingdom fostered the growth of trading rooms in the continent. Several new trading opportunities arose, and as a result the need for more traders working together emerged, giving rise to the idea of trading rooms.
The Businesses Having Trading Rooms
Two types of businesses that make use of trading rooms are:
Institutional investors, asset management companies and portfolio management companies that are involved with the buying side of the business.
Investment banks, brokers, and other arbitrage and trading businesses that are involved with the selling side of the trade.
Depending on the type of business that is operating a trading room, the technologies, systems and software used in these rooms vary. It was the sell side that was first to establish trading rooms, followed subsequently by buying companies.
How Do These Trading Rooms Work Today?
Today, the structure of trading rooms has changed significantly from what it was a few years back. The introduction of online trading platforms has given rise to the concept of virtual trading rooms where traders don’t gather in a single real space but instead, use a single online platform which is referred to as a trading room. In trade rooms today, trades can be carried out in a number of ways, either electronically or personally. Telephone calls, online platforms and verbal face-to-face communication, all are a part of trading rooms nowadays.
The trading room is covered with a number of television screens that allow the traders to keep up with the latest news and happenings at all times. If you ever visit a live trading room during trading hours, it is one of the liveliest and chaotic places you would come across. With hundreds and thousands of traders involved in continuous trading activities, it is hard to catch a free minute while you are in a trading room. For a trader, this is the room where they can make or break their fortune.
Forex social networks represent a rapidly growing phenomenon in the realm of FX trading. These platforms empower their members to observe the trading activities of other individuals, both on an individual basis and collectively. The primary aim is to enhance their understanding of the market and glean insights into the trading strategies employed by others. In certain instances, these networks even facilitate the replication of trades executed by successful traders, albeit in exchange for a commission.
In virtually any other market, engaging in collaborative trading of this nature would be strongly discouraged. However, the unique dynamics of the retail FX market, which is significantly smaller when juxtaposed with the expansive inter-bank market, mean that the actions of retail traders exert minimal to no impact on the prices of currency pairs.
Remarkably, on the majority of leading forex social networks, approximately 50% of participants realize profits by mirroring the trades of others. This stands in favorable contrast to the broader statistic for the entire retail FX market, which hovers closer to 30%. Presented below are seven of the foremost social media forex platforms currently accessible on the internet.
TradingView stands out as the most recent addition among the Forex social networks highlighted in this discussion. Despite its relative youth, the platform has swiftly become a cornerstone for sharing financial charts within the trading and investment community. Traders on TradingView have the opportunity to convey their insights through intricate charts equipped with a variety of graphical tools, complemented by detailed text descriptions. The interactive nature of the platform allows other traders to subscribe to those who share their analyses and cast votes for the most noteworthy charts.
TradingView has earned acclaim for its chart gems, compelling many to visit the site periodically, even if they are not members or do not intend to become one. Regrettably, as of now, the platform does not provide automated trade-copying functionality. For those interested in chart pattern trading, my TradingView profile is also available for following.
With over 1.75m traders in its network, and more than 200,000 live accounts, eToro can claim to be one of the most popular Forex trading networks on the web, although it caters for commodities traders as well. Users receive $10 every time somebody copies one of their trades, and their trade copy platform has one of the highest success rates around.
This is another very popular FX social network, with a huge community of traders. It does not require users to register in order to track the trades of others, and it does not differentiate between real and demo accounts. While it may not be as slick as some of the other websites on this list, the sheer amount of activity on the site more than makes up for this.
For many years, Forex Factory has been the biggest and most active FX forum on the web. Recently, the site has been overhauled to include many of the features of a Forex social network, such as market sentiment socialisation and trading performance tracking with an in depth analysis. Given the size of the community that already exists on this forum, it shouldn’t be too much of a stretch for them to grab a sizeable chunk of the Forex social networking market over the next few years.
MeetPips, a derivative of the well-known Forex educational platform BabyPips.com, maintains a design coherence with its parent website. Notably, MeetPips distinguishes itself as the most visually attractive site within this compilation. It introduces distinctive features, including the capability to view a consolidated trading journal, trading plan, and trading statistics for each member.
Despite these positive attributes, it’s important to note that the analysis of trading statistics on MeetPips is relatively modest. Furthermore, the platform’s smaller member base and comparatively lower level of activity may diminish its appeal when juxtaposed with some of the more dynamic networks featured in this list.
This website closely resembles MyFXBook but boasts a more polished design and a much more user-friendly interface. However, the primary allure of a social network lies in the size of the community and the level of social activity, and in these aspects, it falls somewhat short compared to MyFXBook. Nevertheless, as a tool for strategy analysis, it can prove to be quite useful.
Education is the key to becoming a successful forex trader. Babypips is a useful tool in this field. While there are many fine further education courses out there for those who are looking to learn the basics of trading and hone their skills, they can be quite expensive. However, if you are self-disciplined enough to study independently, without the need for external pressures to guide your development, then there are many online educational resources that are available free of charge.
One of the leading lights is Babypips, a popular forex education website that combines a range of useful resources for traders of all experience levels, including an online course, analyst blogs, a busy forum, a forex encyclopedia, and tools including an economic calendar, a brokers guide, a currency converter, and various specialised forex calculators.
The Babypips team of experts, known as the ‘FX-Men’
Perhaps the most immediately obvious difference between Babypips and competitors such as Forex Factory and Forex Crunch is the friendly, cartoony tone adopted throughout. The site makes use of cute, comic book-esque graphics throughout, with their analysts being referred to collectively as the ‘FX Men’, with pseudonyms such as Robopip, Forexninja, and Cleopiptra, and are depicted as cartoon characters.
It’s all an effort to make forex trading, traditionally a rather dry world of charts and number-crunching analysts, that little bit more accessible and fun for the beginner. While the constant stream of pip-related puns and jokey asides may not be to everyone’s taste, they certainly mark a departure from the norm for this type of website.
Joking Aside
Despite the air of levity that pervades all the content on the site, the information is as solid and as in-depth as you will find anywhere. In particular, their ‘School of Pipsology’ covers a very comprehensive range of topics from the basics of the forex market and placing trades to sophisticated analysis techniques. It does quite a good job of demystifying some of the more complex topics, and the friendly tone can help to assuage some of the boredom that can set in when discussing technical topics of any nature. It takes the trader on a journey from novice to expert via short, modular lessons that can be ticked off as they are completed so that you can keep track of your progress.
The Babypips.com home page
The blogs section is the main focus of the site aside from the school, and is updated on a daily basis by a team of top analysts from the world of currency trading. Each specialises on a different topic, with Robopip for example covering algorithmic trading techniques, and Pip Surfer covering trading systems. They also post their most recent trades on the website in a similar fashion to social trading websites.
The forum on the website might not be as heavily populated as the ubiquitous Forex Factory forum, but it is nonetheless a useful and well-moderated resource with a lot of knowledgeable contributors. The most popular sections, at the time of writing, are Newbie Island, which as the name suggests covers the questions of beginner traders, and Free Forex Trading Systems, where users can view and share systems for trading the forex market.
Tools for Traders
Babypips also hosts a range of useful tools for forex traders, including:
Forex Economic Calendar – a guide to when to expect all the major market-moving news releases, market holidays, and other currency-related events.
Forex Broker’s Guide – everything you need to help you choose a forex broker, including what to look for, a comprehensive list of brokers with all the essential stats, a broker comparison tool that enables you to view detailed information about up to three brokers side-by-side, links to the relevant national regulatory organizations, and a glossary of commonly-used terminology.
Currency Converter – A simple converter for finding out how much one unit of currency will buy you of another at the current bank rates.
Forex Calculators – A range of useful calculators to help you assess and evaluate trades and set up charts, including a Fibonacci Calculator, a Pip Value calculator, a Pivot Point calculator, a Position Size calculator, and a Risk/Reward calculator.
The other main resource on the site is the Forexpedia, a free encyclopedia covering all the forex terminology you are likely to come across, in an easy letter-search format. So if you ever come across a word or phrase, and you’re not sure what it means exactly, then you can look it up here and all will be revealed.
All in all, Babypips is a friendly and welcoming addition to the world of forex trading online, providing an easy route into learning about trading for beginners, but with enough depth of information to keep experienced traders coming back for new ideas and to brush up on their knowledge and skills. In addition to the constantly-updated information on the site, they are also very active on Twitter and Facebook, with regular market updates and links to useful resources.
When it comes to trading platforms, independent traders are literally spoiled for choice with a huge range to choose between. Most brokers offer a range of platform options, often including the ubiquitous MetaTrader 4 or other advanced desktop platforms such as NinjaTrader, social trading platforms such as eToro’s OpenBook and FXCM’s Tradeo, and their own proprietary platforms. These proprietary platforms are either designed in-house or licensed from white-label providers such as Sirix, Currenex, or Saxo Bank, and it is this type of platform we shall be taking a look at today. If we’ve left any out, let us know in the comments box below and we’ll do our best to include them!
Avatrade’s own platform is available in three forms – desktop (for downloading to Windows PCs), web (for Mac, PC, and Java-enabled tablets) and mobile (for smartphones and tablets). It’s an easy-to-learn yet powerful platform that enables you to trade directly from charts, using any of over 30 built-in indicators to inform your trades, and also to test and implement auto-trading routines.
This basic, online-only platform is compatible with Mac and PC, and provides a range of useful features for the online trader. It’s user-friendly and intuitive interface allows for drag & drop customisation, one-click trading, and a range of real-time technical analysis tools. For those that require more advanced features, the platform can be easily integrated with Metatrader 4, and the platform is also available as an app for iPad, Android, and iPhone.
Sirix WebTrader
This is a non-proprietary web-based trading platform that is used by a variety of brokers, including Go Forex and Caesar Trade. Because it’s browser-based, you can access it with virtually any web-connected computer or device, and because it is designed to integrate with MT4, it can be the perfect solution for MT4 users who need to access their accounts when they are not at their own desktop computer. As well as full MT4 integration, it offers a number of advanced features of its own, such as built-in risk management and social trading.
Investment banking giant Citigroup’s CitiFX Pro trading platform comes in desktop, web, and mobile versions, and combines ease of use with advanced functionality. While the interface is indeed slick and intuitive, it is the ability to tap into Citi’s award-winning research that makes this platform stand out. In addition, the platform offers a full range of stop order functionality, advanced charting, and one-click execution of trades.
Like many of the more recent entrants to the online trading arena, One Financial Markets has opted to make their own platform a browser or mobile-based effort that integrates fully with MetaTrader 4. These are nothing out of the ordinary, but they are reliable, intuitive, and work well as an adjunct to the more powerful MT4 for desktop computers.
Definitely this should always be among the most popular trading platforms. This browser-based platform is one of the slickest around, combining ease of use with relatively advanced functionality for a non-software solution. Just about everything you might need to do, from setting trade orders to using technical analysis tools can be achieved just by clicking on the graph. It’s a speedy interface, and there are keyboard shortcuts for every single function to save the trader valuable time.
Currenex is a non-proprietary forex trading platform that is offered alongside MT4 by some brokers, including Hantec Markets and Alpari. There are two versions, Currenex classic, which is aimed at institutional investors, and Currenex Viking, which is designed for the independent investor. Both versions are very powerful indeed, with full implementation of scripts and algorithmic trading, detailed accounting and charting features, and fully integrated Straight-Through Processing (STP). While the browser-based version of the platform is the most widely used, there is also a downloadable desktop version and apps for mobile devices running on Android and iOS.
Trading Station from FXCM is one of the most powerful and full-featured proprietary trading platforms for forex. Perhaps its main selling point is the availability of over 600 custom indicators, including fractal-based support and resistance lines, breakout indicators, and automatic Fibonacci/Gan level indicators. The powerful analysis tools allow for the backtesting of strategies, using historical market data, and strategy optimisation using a dedicated tool. There are also browser-based and mobile versions of the platform, but if you want to make full use of all the features, then you need the desktop version.
This powerful ECN forex platform allows traders to access deep liquidity from some of the world’s biggest banks, including Morgan Stanley and Deutsche Bank, with No Dealing Desk execution. The interface allows charts to be detached, and snapshots can be taken, which allows for a great deal of flexibility and also easy sharing. Traders can access multiple accounts from within the platform, which is available in desktop, web, and mobile versions. As well as being easy to use, the platform also incorporates some advanced features such as algorithmic trading and a full range of technical analysis tools.
This proprietary offering from Forex.com incorporates a number of advanced charting and analysis tools, including Autochartist pattern-recognition, trading signals from eSignal, and a custom-built strategy centre. For those that do not need all the features of the pro version, or are new to forex trading, there is a stripped-down version called FOREXTrader Lite that offers a much simpler interface with fewer features and functions.
TRADE
This platform from Forex.com differs from FOREXTrader PRO in many ways, offering fixed spreads, instant execution at the screen price, guaranteed stops, hedging, and over 300 currency pairs. There is no desktop version, as it is only available within your browser or as a mobile app. For technical analysis, TRADE offers Market DNA pattern-matching functionality, charting, and a strategy builder similar to that seen in FXPro’s cTrader.
As you might expect from a company that provides white-label solutions to some of the biggest names in trading, Saxo Bank’s own trading platform is one of the best in its class. Key features include extensive market analysis, direct communication with Saxo dealers, streaming news, and one-click execution. The layout can be fully customised (on desktop and web versions) and there is also a mobile version for use with smartphones.
Have you ever wondered why some investor seems to get seriously rich, while other investors never seem to accumulate as much?
Either a newbie investor...
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