Currency Pairs - Understanding and Reading Forex Quotes

ATO Australian tax treatment for options trades 🇦🇺

I am posting this as I hope it will help other Australian options traders trading in US options with their tax treatment for ATO (Australian Tax Office) purposes. The ATO provides very little guidance on tax treatment for options trading and I had to do a lot of digging to get to this point. I welcome any feedback on this post.

The Deloitte Report from 2011

My initial research led me to this comprehensive Deloitte report from 2011 which is hosted on the ASX website. I've been through this document about 20 times and although it's a great report to understand how different scenarios apply, it's still really hard to find out what's changed since 2011.
I am mainly relating myself to the scenario of being an individual and non-sole trader (no business set up) for my trading. I think this will apply to many others here too. According to that document, there isn't much guidance on what happens when you're an options premium seller and close positions before they expire.
Note that the ATO sometimes uses the term "ETO" (Exchange Traded Option) to discuss what we're talking about here with options trading.
Also note: The ATO discusses the separate Capital Gains Tax ("CGT") events that occur in each scenario in some of their documents. A CGT event will then determine what tax treatment gets applied if you don't know much about capital gains in Australia.

ATO Request for Advice

Since the Deloitte report didn't answer my questions, I eventually ended up contacting the ATO with a request for advice and tried to explain my scenario: I'm an Australian resident for tax purposes, I'm trading with tastyworks in $USD, I'm primarily a premium seller and I don't have it set up with any business/company/trust etc. In effect, I have a rough idea that I'm looking at capital gains tax but I wanted to fully understand how it worked.
Initially the ATO respondent didn't understand what I was talking about when I said that I was selling a position first and buying it to close. According to the laws, there is no example of this given anywhere because it is always assumed in ATO examples that you buy a position and sell it. Why? I have no idea.
I sent a follow up request with even more detail to the ATO. I think (hope) they understood what I meant now after explaining what an options premium seller is!

Currency Gains/Losses

First, I have to consider translating my $USD to Australian dollars. How do we treat that?
FX Translation
If the premium from selling the options contract is received in $USD, do I convert it to $AUD on that day it is received?
ATO response:
Subsection 960-50(6), Item 5 of the Income Tax Assessment Act 1997 (ITAA 1997) states the amount should be translated at the time of the transaction or event for the purposes of the Capital Gains Tax provisions. For the purpose of granting an option to an entity, the time of the event is when you grant the option (subsection 104-20(2) ITAA 1997).
This is a very detailed response which even refers to the level of which section in the law it is coming from. I now know that I need to translate my trades from $USD to $AUD according to the RBA's translation rates for every single trade.
But what about gains or losses on translation?
There is one major rule that overrides FX gains and losses after digging deeper. The ATO has a "$250k balance election". This will probably apply to a lot of people trading in balances below $250k a lot of the FX rules don't apply. It states:
However, the $250,000 balance election broadly enables you to disregard certain foreign currency gains and losses on certain foreign currency denominated bank accounts and credit card accounts (called qualifying forex accounts) with balances below a specified limit.
Therefore, I'm all good disregarding FX gains and losses! I just need to ensure I translate my trades on the day they occurred. It's a bit of extra admin to do unfortunately, but it is what it is.

Credit Trades

This is the scenario where we SELL a position first, collect premium, and close the position by making an opposite BUY order. Selling a naked PUT, for example.
What happens when you open the position? ATO Response:
The option is grantedCGT event D2 happens when a taxpayer grants an option. The time of the event is when the option is granted. The capital gain or loss arising is the difference between the capital proceeds and the expenditure incurred to grant the option.
This seems straight forward. We collect premium and record a capital gain.
What happens when you close the position? ATO Response:
Closing out an optionThe establishment of an ETO contract is referred to as opening a position (ASX Explanatory Booklet 'Understanding Options Trading'). A person who writes (sells) a call or put option may close out their position by taking (buying) an identical call or put option in the same series. This is referred to as the close-out of an option or the closing-out of an opening position.
CGT event C2 happens when a taxpayer's ownership of an intangible CGT asset ends. Paragraph 104-25(1)(a) of the ITAA 1997 provides that ownership of an intangible CGT asset ends by cancellation, surrender, or release or similar means.
CGT event C2 therefore happens to a taxpayer when their position under an ETO is closed out where the close-out results in the cancellation, release or discharge of the ETO.
Under subsection 104-25(3) of the ITAA 1997 you make a capital gain from CGT event C2 if the capital proceeds from the ending are more than the assets cost base. You make a capital loss if those capital proceeds are less than the assets reduced cost base.
Both CGT events (being D2 upon granting the option and C2 upon adopting the close out position) must be accounted for if applicable to a situation.
My take on this is that the BUY position that cancels out your SELL position will most often simply realise a capital loss (the entire portion of your BUY position). In effect, it 'cancels out' your original premium sold, but it's not recorded that way, it's recorded as two separate CGT events - your capital gain from CGT event D2 (SELL position), then, your capital loss from CGT event C2 (BUY position) is also recorded. In effect, they net each other out, but you don't record them as a 'netted out' number - you record them separately.
From what I understand, if you were trading as a sole tradecompany then you would record them as a netted out capital gain or loss, because the trades would be classified as trading stock but not in our case here as an individual person trading options. The example I've written below should hopefully make that clearer.
EXAMPLE:
Trade on 1 July 2020: Open position
Trade on 15 July 2020: Close position
We can see from this simple example that even though you made a gain on those trades, you still have to record the transactions separately, as first a gain, then as a loss. Note that it is not just a matter of netting off the value of the net profit collected and converting the profit to $AUD because the exchange rate will be different on the date of the opening trade and on the date of the closing trade we have to record them separately.

What if you don't close the position and the options are exercised? ATO Response:
The option is granted and then the option is exercisedUnder subsection 104-40(5) of the Income Tax Assessment Act 1997 (ITAA 1997) the capital gain or loss from the CGT event D2 is disregarded if the option is exercised. Subsection 134-1(1), item 1, of the ITAA 1997 refers to the consequences for the grantor of the exercise of the option.
Where the option binds the grantor to dispose of a CGT asset section 116-65 of the ITAA 1997 applies to the transaction.
Subsection 116-65(2) of the ITAA 1997 provides that the capital proceeds from the grant or disposal of the shares (CGT asset) include any payment received for granting the option. The disposal of the shares is a CGT event A1 which occurs under subsection 104-10(3) of the ITAA 1997 when the contract for disposal is entered into.
You would still make a capital gain at the happening of the CGT event D2 in the year the event occurs (the time the option is granted). That capital gain is disregarded when the option is exercised. Where the option is exercised in the subsequent tax year, the CGT event D2 gain is disregarded at that point. An amendment may be necessary to remove the gain previously included in taxable income for the year in which the CGT event D2 occurred.
This scenario is pretty unlikely - for me personally I never hold positions to expiration, but it is nice to know what happens with the tax treatment if it ultimately does come to that.

Debit Trades

What about the scenario when you want to BUY some options first, then SELL that position and close it later? Buying a CALL, for example. This case is what the ATO originally thought my request was about before I clarified with them. They stated:
When you buy an ETO, you acquire an asset (the ETO) for the amount paid for it (that is, the premium) plus any additional costs such as brokerage fees and the Australian Clearing House (ACH) fee. These costs together form the cost base of the ETO (section 109-5 of the ITAA 1997). On the close out of the position, you make a capital gain or loss equal to the difference between the cost base of the ETO and the amount received on its expiry or termination (subsection 104-25(3) of the ITAA 1997). The capital gain or loss is calculated on each parcel of options.
So it seems it is far easier to record debit trades for tax purposes. It is easier for the tax office to see that you open a position by buying it, and close it by selling it. And in that case you net off the total after selling it. This is very similar to a trading shares and the CGT treatment is in effect very similar (the main difference is that it is not coming under CGT event A1 because there is no asset to dispose of, like in a shares or property trade).

Other ATO Info (FYI)

The ATO also referred me to the following documents. They relate to some 'decisions' that they made from super funds but the same principles apply to individuals they said.
The ATO’s Interpretative Decision in relation to the tax treatment of premiums payable and receivable for exchange traded options can be found on the links below. Please note that the interpretative decisions below are in relation to self-managed superannuation funds but the same principles would apply in your situation [as an individual taxpayer, not as a super fund].
Premiums Receivable: ATO ID 2009/110

Some tips

submitted by cheese-mate-chen-c to options [link] [comments]

Forex Trading Strategies Reddit: What you need to know to start Forex trading.

Forex Trading Strategies Reddit: What you need to know to start Forex trading.

FOREX Strategies

What are FOREX Strategies?
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You may have noticed that most of people confuse the terminology and refer to FOREX Strategies in the wrong way. There are methodologies, systems, strategies, and techniques. The most effective methodology is Price Language (Trend Tracking). Combined with a correct reading of mass psychology presented by the charts.
We know that in the Stock Markets there are thousands of strategies. FOREX, like the rest of the markets, presents you with the opportunity to apply similar strategies to win consistently. Taking advantage of repetitive psychological patterns.
First, the Price Language methodology has created great fortunes in FOREX, and the next fortune may be yours. But this methodology must be implemented within a framework of advanced concepts of Markets. Without forgetting the basics. And working hard day by day.
Second, a strategy is a set of parameters and techniques that together give you the advantage to act in any situation. Thus for example in war, generals have attack strategies and counterattack strategies.
FOREX strategies alike are entry strategies and exit strategies. All beginners should know these FOREX strategies for beginners. That way you will get a general idea of ​​the game and understand that trading is a war against the Market and its Specialists. Only applying FOREX strategies revealed by the same Specialists and using their own techniques,
... you can survive in this war.
Do not fall into the trap of the many "systems" and "methods" that are offered on the internet about operating in the FOREX Market. They just don't work in the long run. They are strategies based on indicators for the most part. Using rigid parameters. That if they can work and give profitability during a certain period of time, they will always reach a breaking point when the market changes its dynamics.
Instead, take advantage of your precious time and learn the Language of Price or Price Action.
The Language methodology will allow you to adapt to each new phase of the Market. If you combine this knowledge with the appropriate psychological concepts, you can live comfortably from speculation in FOREX.

Forex Trading Strategies Reddit - Basic FOREX Strategies

You have two basic FOREX strategies, one entry, and one exit. Both follow a general strategy that helps you capitalize on the collective behaviors of the Market. That is, of the total of participating speculators.
This behavior causes the formation of cycles that repeat over and over again. Driven by the basic emotions (uncertainty, greed, and panic) of the speculators involved that can be taken advantage of with the aforementioned FOREX strategies. Specialists identify these emotions in the order flow and capitalize on these events every hour, every day, and every month.
Basic FOREX Strategies - The Price Cycle
These repetitive cycles consist of 4 phases:
  1. Accumulation
  2. Upward trend
  3. Distribution
  4. Downward trend
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The two trends can be easily identified by their notorious breakdown. And the two areas of uncertainty (accumulation and distribution), due to their notorious range trajectories.
This general behavior determines the core of our FOREX strategies.
You buy when the price of a pair has broken and has come out of one of its congestion formations (accumulation or distribution). You implement one of the Forex strategies, in this case, the entry one.
The multi-time technique will help you find the point of least risk when entering your initial buy or sell order. In the same way and using the same strategy but this time to close your position, the multiple timing technique will also show you how to close your operation obtaining the highest possible profit.
The most consistent way to extract profits in the market is by trading the start of trends within a cycle . Once confirmed by their respective breaks from the areas of uncertainty. This is the mother of all FOREX strategies . And in a market that operates 24 hours, we have more frequent cycles and therefore more opportunities.

Forex Trading Strategies Reddit - Advanced Forex Strategies

There are many advanced FOREX strategies that are generally used by professional speculators working for large financial firms.
Among these firms are banks, Investment Fund managers and Hedge Fund managers. The latter is an investment modality similar to Investment Funds, with the difference that Hedge Funds use more complex investment strategies. Its operations are more oriented to aggressive speculations in the short and medium-term.
Among the most common strategies is hedging (hedging), carry trade, automated systems based on quantum mathematics. And a large number of combinations between the different option strategies.

The Carry Trade

The central idea of ​​Carry Trade is to buy a pair in which the base currency has a considerably higher interest rate than the quoted currency. To earn the difference in rates regardless of whether the price of the pair rises or falls.
Suppose we buy a $ 100,000 lot of AUDJPY, which according to the rates on the chart would turn out to be the ideal instrument in this example to use the Forex carry trade strategy.
As our capital is in US dollars we have to assume for our example, the following quotes necessary to perform the place calculations:
AUD / JPY = 80.00 USD / JPY = 85.00
What happens internally in your broker is this.
  1. By placing as collateral $ 1,000 of your $ 50,000 of capital (assumed for this example), deposited in your account, you have access to $ 100,000 virtual (this is what is known as leverage); that is, you put in $ 1,000 and your broker lends you 99,000.
  2. With those $ 100,000 virtual dollars, your broker borrows on your behalf ¥ 8,500,000 Japanese yen (85 × 100,000) at 0.1% annual interest from a Japanese bank.
  3. With those ¥ 8,500,000 Japanese yen, your broker buys A $ 106,250 Australian dollars (8,500,000 / 80) and deposits it in an Australian bank where it receives 4.5% annual interest on your behalf.
  4. One year later (and regardless of the profit or loss generated by the pair's movement), your profit will be the difference between the AUD rate and the JPY rate, that is:
Profit = (AUD rate) - (JPY rate) - (costs of the 2 currency exchanges) Profit = (4.5%) - (0.1%) - (0.1% to 1%)
The great advantage of carry trade FOREX strategies is that this percentage profit is applied to the $ 100,000 of the standard lot; the broker transfers all of the profit to you, even if you only contributed $ 1,000. On the other hand, if you carry out the inverse of this operation, this benefit of the Forex carry trade becomes a cost (swap), and you assume it completely.
Remember that FOREX carry trade strategies are recommended for pairs with considerable interest rate differences, such as the one we have just seen in our example.
These FOREX strategies should also not be used in isolation. The idea is that through technical analysis you identify when would be the ideal time to enter the market using your carry trade Forex strategy and multiply your profits considerably.

What FOREX Strategies Do Hedge Funds Use?

The FOREX strategies used by large fund managers do not constitute an advantage in terms of percentage results for them, nor do they constitute a competitive disadvantage for you.
The vast majority of them fail because of their big egos. In fact, there was a firm made up of great financial geniuses, including 2 winners of the Nobel Prize in Economics, who developed a strategy based on quantum mathematical calculations.
With an initial base capital of about 3 billion dollars, and after 3 successful years obtaining annual returns of over 40%, the firm Long-Term Capital Management, begins its fourth year with losses. To counteract these losses the geniuses decide to multiply the initial capital several times, while the losses continued.
The year closed with the bankruptcy of the fund, and with a total accumulated loss of 1 trillion dollars, due to the great leverage used. And all for not admitting that the FOREX Strategies of Long Term Capital Management were not in line with the dynamics of the Market.
There are an overwhelming number of opportunities in the stock markets to make money interpreting the Language of Price.
You don't need to use complex "advanced" strategies that have been created to handle hundreds or billions of dollars.
The reasons for using these FOREX strategies are very different from what a "retail trader" pursues with his small speculation business.
As you can see, you should not worry about wanting to integrate any of these advanced strategies into your arsenal. They are only beneficial for managing hundreds or billions of dollars, where the return parameters are very different when you handle small amounts of capital.
Do not worry about collecting hundreds of free FOREX strategies that circulate on the internet, that great accumulation of mediocre information will only serve to confuse you and waste your valuable time.
Spend that time learning Price Action,
… And you will always be one step behind the Specialists, identifying each new Market condition, and anticipating the vast majority of reversals of all prices.
Ironically, the most successful fund managers indicate that their most profitable trades are those based on the basic trend-following strategies of the Price Language. The same ones that you will learn in this Free Course.
Dedicate yourself to perfecting them and believe me you won't need anything else. As long as you have good risk management, taking into consideration the following points ...

Styles of Investments in FOREX

The Investment FOREX long term is not recommended for small investors like you and me. If we take into account the term investing literally as large investors do who buy a financial product today to sell it years later.
We both have a better niche in the short and medium-term.
You may have noticed that the big multi-year trends in the Forex Market do exist. But minor swings within a big trend are usually very wide.
These minor movements allow us to easily double and triple the annual return of the big general trend, motivating most traders to speculate in the short and medium-term.
These minor oscillations or trends that occur within the large multi-year trends owe their occurrence mainly to two reasons.
First, the FOREX Market presents 3 sessions a day each in different cities of the world with different time zones (Asia, Europe, and America). This causes more frequent trend changes than in the rest of the stock markets.
Second, the purpose for which it was created also plays a role. The modern Foreign Exchange Market, since its inception in 1972, was conceived by the global financial system as a tool for speculation. To obtain benefits in the short and medium-term (from several days to 1 year).
These two points are basically the reasons why we observe the immense speed with which the FOREX market changes trends.
For example, for those who live in America, in the early morning (Europe) the EURUSD pair may be on the rise, in the morning or afternoon (America) it may be down, and then finally at night (Asia) it may return to the rise.

Define your Own Style for your FOREX Investments

One of the first decisions you will have to make is to choose your style as a trader or investor.
There are 4 types of well-defined styles.
Most professional traders tend to have multiple styles, although they always identify with one primary style for their FOREX investments. Study the characteristics of the 4 main styles to make your investments in FOREX :
1. Long Term: recommended for anyone who is going to enter the market for the first time and who can dedicate a minimum of one hour per month to their investments in Forex. The period of an open position ranges from 1 year to 5 years.
2. Medium Term: recommended for anyone who is going to enter the market for the first time and who can dedicate a minimum of one hour per week to their investments in Forex. The period of an open position ranges from 1 month to 1 year.
3. Short Term: recommended for anyone who is going to enter the market for the first time, or who already has a certain time operating in the long and medium-term, showing constant profits, and who can dedicate a minimum of one hour per day to your investments in FOREX. The period of an open position ranges from 1 day to 1 month.
4. Intraday : recommended only for people with a fairly solid earnings record in the short term, and with a capital greater than $ 50,000. As we have noted, this option constitutes a full-time job.
People who start investing in FOREX , should start executing short-term (weeks) and medium-term (months) transactions only, and not pay attention to intraday oscillations (day trading).
If you are interested in being an intraday speculator, I recommend that you first exhaust at least a year doing operations in the short and medium-term to assimilate the correct strategies and to develop the necessary mentality to carry out this work.
The second option would be to participate in some kind of intensive training.
I remind you that self-educating is almost impossible in speculation. You are likely to accumulate a lot of knowledge by reading books and attending courses. But you will probably never learn to make money with all the incomplete "systems" circulating on the internet.

Mistakes to Avoid When Looking for Your Style

Many people who are new to FOREX investments make the mistake of combining these styles, which is a key to failure.
I recommend that if you are not getting the results you expected by adopting one of these styles, do not try to change it. The problem sure is not in the style, but in your strategies or in your psychology.
A successful investor is able to make a profit in any longer trading time than he is used to. I explain. If you are already a profitable operator in the short term, it is very likely that you will also be profitable in the medium and long term,
… As long as you can interpret the Language of Price or Price Action.
In the opposite case, the same would not happen. If you were a medium-term trader, you would need time to adjust to the intraday. The reality is that long, medium and short term traders have very similar personalities. The intraday trader is completely different.

The Myth of the Intraday in Investments in FOREX

If you are already successful in the short, medium and long term, you will notice that the sacrifice and the hours necessary in front of the computer to operate intraday is much greater. The intraday style will be useful to increase your account if it is less than USD $ 100,000 in a very short time in exchange for 8 to 12 hours a day of hard work but ...
You must first develop the necessary skills to operate the intraday.
The ideal is to combine all the styles to get more out of the Market and carry out more effective transactions and have a diversification in your investments in FOREX.
There are intraday traders that are very successful, but the reality is that there are very few in the world that make a profit year after year. If you want to become an intraday, you just have to prepare yourself properly through intensive training.
Otherwise, I recommend that you don't even think about educating yourself to adopt the intraday style. It is not necessary to go against a probability of failure greater than 99%. Unless
... your ego is greater than your common sense.
The main reason why this style of investments in FOREX is not recommended for the vast majority of us "retail investors" (the official term "retail traders"), is the high operational cost.
The real commissions in this market range between $ 2.0 and $ 2.50 for each lot of 100,000 virtual units. This means that a complete operation (opening and closing) is approximately $ 5.00, for each standard lot traded ($ 100,000 virtual).
Another fundamental reason is the advent of robotic traders (HFT = High-Frequency Trading), which tend to manipulate the market in the shorter intraday swings. Please do not confuse HFTs with automated systems that we find daily on the internet, and that can be purchased for a few hundred dollars and often for free on FOREX forums / groups.
These HFTs to which I refer, they are effective. They cost millions of dollars and have been developed by the large Wall Street financial firms to manage their investments in FOREX.
The reality of the intraday trader is that you execute orders for large lots at the same time, to profit from the smallest movements in the market. It is an activity based on reflexes. The slightest oversight or distraction can turn into a catastrophe for your FOREX investments.
I recommend that you start investing in FOREX using slow time periods such as H4 or Daily. For some reason, all Goldman Sachs intraday FOREX investments are made with algorithms.

Finally…

To choose your style as a trader and manage your investments in FOREX, first determine what your degree of experience is, analyze the points mentioned below and the rest you will discover when you execute your first operations.
The points that will affect your decision are:
  • Capital
  • Time available each day
  • Level of Experience
  • Personality
Discovering your style is a search process. For some it will be a long way to find the right time frame that matches their personality. Don't be put off by the falls. After all, those who continue the path despite the falls are the ones who reach the destination.
And I hope you are one of those who get up over and over again. The next lesson will boost your confidence when you discover the main reason that moves currencies ...

Fundamental Analysis in Forex Trading Reddit

The fundamental analysis in Forex is used mostly by long-term investors. Players as we saw in the styles of operators, start a negotiation today, to close it years later.
I always emphasize the importance that the mass media give to this type of analysis to distract the great mass of participants.
It is all part of a great mass psychological manipulation. For centuries the ignorance of the masses has been organized before the great movements begin.
The important news are the macroeconomic reports published by the Central Banks and other government agencies destined for this work. All reports are made up. 99% of them are corrected months later.
These events are tools to justify fundamental analysis and price cleaning movements. Any silly headline does the job. With this, it is possible to absorb most of the existing liquidity, before the new trend phase is projected.

Reaction!

Except in rare situations, the result of an economic report of the fundamental analysis is generally already assimilated in the graph. In most cases, there are financial institutions that already have access to this information and are organizing and carrying out their operations in advance.
The phrase buy the rumor and sell the news is a very old adage on Wall Street. And its meaning contains what we have just explained. For the investor who can interpret the Language of Price, fundamental analysis is of little importance. Well, in general, their disclosure does not indicate that you have to take any action in your open trades , as long as your entry strategy provides you with a good support cushion.
This reality of fundamental analysis causes a lot of confusion for investors who lack in-depth knowledge of the forex market.

Macroeconomic Data

The data published in these events is irrelevant. Both for speculators and for the people in general. They are false. They lack reliability.
The price can go up or down with the same result of the data. The main ones are:
- Interest Rates - GDP (gross domestic product) - CPI (inflation) - ISM (manufacturing index) - NFP (payroll) - Double Deficits (deficit = fiscal + balance of payments)
If you are initiated, I recommend you avoid operating near these events. It is only a matter of having the time pending. Use the economic calendar for Fundamental Analysis of Forex Factory.
There is a probabilistic advantage in operating these fundamental analysis events. But it takes preparation, experience, and practice. They represent a way of diversifying in the general operation of a speculator.

The Uncertainty of Fundamental Analysis

On many occasions after the disclosure of an economic report, the price movement of the currency pair that is going to be affected tends to move in the opposite direction to the logic of the report.
I show you an example of a fundamental analysis report. Imagine that the EUR / USD pair is trading at 1.2500, and the FED (US Federal Reserve) issues a statement announcing that it has just raised inter-bank interest rates from 0.25 points to 0.75 points. Very positive news for the US dollar that logically implies an appreciation of the currency and consequently an instantaneous collapse of the EUR / USD pair (up the dollar and down the euro)
However, minutes after the release of said fundamental analysis report, the pair after effectively collapsing to 1.2400, returns and returns to its levels prior to the report (1.2500). This situation is very common , but it is not so easy to identify it when it is occurring, but after the damage is done.
Traps like these devour the accounts of beginners who approach the market with little experience, with weak strategies, and especially with very little experience.
That is why I reiterate that you forget the fundamental analysis for now. Just keep in mind when operating, that there is no publication scheduled nearby. Just check the economic calendar for the day and forget about the numbers. Let the economists mess around with the data.

FOREX Market Correlation

The Forex market correlation exists between pairs with similar "base" currencies and not always under the same circumstances. The correlation in the Forex market that is most followed and that has the greatest impact on fundamental analysis is that of the US dollar (USD).
The USD is the most traded monetary unit with a volume greater than 80% with respect to the rest of the currencies. This fact determines why their correlation is the most important, the most followed, and perhaps the only one worth following in the fundamental macro analysis.
The 7 major pairs are usually in sync . These 7 pairs all include the USD and present a fundamental analysis correlation almost 75% of the time. Influencing the rest of the currency pairs.

Advantages of the FOREX Market Correlation

In the fundamental analysis the most basic FOREX correlation is the following. When the USD appreciates, the USD / CAD, USD / CHF, and USD / JPY pairs tend to go up in price. This indicates that the Canadian dollar (CAD), the Swiss franc (CHF), and the Japanese yen (JPY) are losing value against the USD.
We must bear in mind that this correlation does not occur 100% of the time. In fact, the JPY generally tends to move in the opposite direction , since in recent decades this currency has been used as a source of financing to invest in other financial instruments.
On the other side is the FOREX market correlation that generates a movement almost in unison in the other 4 major pairs EUR / USD, GBP / USD, AUD / USD, and NZD / USD. These tend to fall in price, homologous the appreciation of the USD. But not always.
In this case the fundamental analysis correlation works most of the time, between 65 and 85% of the time. Small differences are noted in the extent that each of these pairs experiences.
There is also a correlation in the secondary FOREX market, where the pairs of all currencies that do not include the USD participate, but I recommend you not to waste time on them for now. There are more important things about the Language of Price to know first.

FOREX Commodity Correlation

In this part I will explain to you in a basic way the Correlation Commodities - FOREX of the fundamental analysis.
There are three currencies that have a direct correlation with commodities. They are usually called: "COMDOLLS" which is short for "Commodities Dollars" (Commodities Dollars), since all three obey the dollar denomination. These are:
- The New Zealand Dollar (NZD) - The Australian Dollar (AUD) - The Canadian Dollar (CAD)
These three currencies make up the group of the 8 largest together with the euro, the pound, the yen, the franc and the US dollar. Together, they merge to produce the major pairs traded in the FOREX Foreign Exchange Market.
The FOREX Commodity Correlation has an affinity in most cases greater than 75%. And each of them has its different raw material of correlation. You will notice that the NZD and the AUD are two currencies that act practically in unison. Both present minimal discrepancies in their fluctuations in the short, medium and long term.
This is mainly because their economies are very similar and their economic and fiscal policies are too. Their main production items also show great similarities, despite the fact that the Australian economy is much larger than the New Zealand economy.
The raw materials that follow the movement of the AUD are mainly gold and copper. If you put the history of these three quotes during the last decade of the year 2,000 together on the same chart, you will notice a very similar upward movement between the three quotes. Pure correlation of fundamental analysis.
This strong correlation with commodities in the metals area for the AUD has provided Australia with an economic advantage enviable over the other major powers that have seen their currencies devalue sharply against the AUD. At the same time, they experience a constant decrease in the purchasing power of their citizens.
The NZD maintains a correlation with raw materials related to agriculture and livestock, mainly including milk and its derivatives. It is one of the countries that dominates the world export of these economic items, and also has important exports of metals , although in smaller quantities than Australia.
Finally, you have a correlation with raw materials in the energy area. For historical reasons the CAD, which is not the largest oil producer in the world, but an important supplier to the largest consumer that is the US, has seen its currency oscillate in line with oil prices.
To make long-term investments in the Foreign Exchange Market, it is necessary to take into consideration at least one Commodity Correlation - FOREX in your fundamental analysis.

Forex Technical Analysis Reddit

The technical analysis is the methodology that interprets the movements of the price. Specialists look for liquidity to fund their business. The repetition of the strategies used by the specialists in their work generate repetitive patterns.
If you were an analyst, you would develop the visual ability to identify such patterns on a graph. If you were a programmer you would quantify them mathematically using complex formulas.
And if you could learn to interpret the Language of Price, you would have the ability to anticipate 90% of all movements that occur on a chart. And in this business, anticipating is what will make you money.
Market prices are reflected and framed on a horizontal time axis and a vertical price axis. Prices go up or down according to the aggressiveness of the participating operators. In an efficient or balanced market these oscillations should be imperceptible.
But in reality this is not the case, since the Market works thanks to the digital printing of hundreds of billions of units of paper money systematically distributed by the Central Banks through the banking system. These resources serve as a tool to manipulate 100% of the movements that occur in the FOREX Market.
Are you looking for Technical Indicators? All technical indicators were created from the 70's. How do you think that for more than 200 years the speculators of the past accumulated great wealth?
With the Language of Price. The best timing is given by the price itself. Indicator-generated entry signals usually occur at the wrong time.
The basis of technical analysis is human psychology. Unfortunately, human beings are not perfect and are loaded with emotions that dominate their behavior in similar situations, creating repetitive and highly predictable behavior when it occurs in masses.
The study of technical analysis through indicators and subjective training, originates and shapes the collective thinking on which all the traps that specialists execute every day to maintain their business are designed. If the majority won, the Market would cease to exist.
Although you already know that the patterns are not generated by the masses , but the repetitive behavior of the Specialists in the face of the action response of the masses. It is very easy for speculaists, because they can see everyone's orders in their books.
And they also exert a great influence on the decisions of the masses through the mass media. It is what I call the war between the Egg and the Stone , if you hit me you win and if I hit you also you win.

The Deception of Modern Technical Analysis

Through the centuries thousands of people have been able to extract great benefits from the financial markets by applying the basic strategies of technical analysis and the psychology of the Price Language.
More than 200 years ago when the markets began to operate officially, fundamental analysis predominated, which was only used by large financial institutions. As this analysis tool began to become popular, these institutions began to apply the strategies of technical analysis.
In recent decades and with the massification of internet technology, technical analysis has begun to be handled by anyone who has a computer with internet access. The same financial institutions, which have been present for more than a century and as a result of this overcrowding , establish a strategy to confuse and misinform about the true strategies of technical analysis.
This has been accomplished in the following manner. Currently there are hundreds, if not thousands of technical indicators that have been developed by so-called "gurus" of technical analysis and that sell their magic indicators packed in a "system" or "method" that usually cost thousands of dollars, or simply with the publication of a book with which they generate large profits. Double benefit.
The aim is to confuse the initiates in speculation and create the collective mentality that will originate the same behaviors over and over again. About 95% of these new entrants completely lose all the capital they invest in their early stages as investors.
Leaving them with a negative experience and creating the idea and the image that financial markets are an exclusive area for geniuses with high academic levels and that only they can produce returns in the markets year after year.
The initiate, having lost all his original capital, turns to these “gurus” for help and teachings. You spend more capital on the products they offer you and the cycle repeats itself . Obviously, the vast majority do not relapse and completely forget to re-engage in the stock markets.
I hope you have not been a victim of this drama.
Now I will show you the simplicity of a FOREX technical analysis , without the need to resort to any indicator as a tool to determine an effective entry or exit strategy when planning your operations.

The Price Cycle

Previously you studied in the FOREX strategies lesson, that the typical price cycle when it is reflected in a graph, presents four very specific phases and very easy to identify if you perform a technical analysis with common sense . These are:
  • Accumulation
  • Bullish trend
  • Distribution
  • Bearish trend
Remember also that the most effective way to constantly extract profits in the markets is by taking advantage of phases 2 and 4 (the trends). Combined with a correct reading of the collective behavior of the masses of speculators interpreting the Language of Price.
You will be surprised by the simplicity with which thousands of people around the world and over the centuries have accumulated large sums of money by drawing a few simple lines and applying responsible risk management with their capital.

How to Identify Trends?

Being able to determine the trend phases within the price cycle is the essence of technical analysis since it is these two phases that provide you with the probabilistic advantage you need to operate in the markets and obtain constant returns.
In the most plain and simple language, in the world of technical analysis, there are only two types of formations: trends and ranges.
The trends, in turn, can be bullish if they go up, or bearish if they go down. The ranges, on the other hand, can be accumulation if they are at the beginning of the cycle, or distribution if they are in the high part of the cycle. As I had indicated in the topic of FOREX strategies when describing the price cycle.
This sounds more like a play on words, but I will show you the practical definition to simplify your life and then you will apply these definitions on the graph so that everything makes more sense to you.
  • Bullish trend: a succession of major highs and major lows
  • Bearish trend: a succession of minor highs and minor lows
  • Floor Range: equal highs and varied lows
  • Ceiling Range: equal minimums and varied maximums
https://preview.redd.it/vvmsshf0guv51.png?width=600&format=png&auto=webp&s=c321679a7dcc03f7184778be86379ef442fddf91
Some key points from the graph:
  • The start of this big uptrend was detected when the last high (thick green line) of the previous downtrend was broken to the upside, ending the succession of lower highs, while exiting the lateral floor formation.
  • The succession of major lows in the uptrend (thin blue lines)
  • The succession of major highs in the uptrend (thin green lines)
  • The end of the uptrend was detected when the last low (thick blue line) of the uptrend was broken to the downside, ending the succession of higher lows, while exiting the lateral ceiling formation.
A tool that will help you sharpen your technical eye and identify trends on the chart is the Currency Scanner. This application is very effective and will provide you with a much-needed boost in your operations to identify reliable trends. At first, we are not sure how reliable a trend is. You will receive great help to find opportunities with the Currency Scanner .

The Common Sense, The Less Common of Senses

The central idea of ​​technical analysis consists in determining the price situation of a market, that is, in which phase of the pattern of its cycle it is currently conjugated with the collective thinking of the masses and the possible traps that the market would have prepared to remove. the capital at stake by the public.
To carry out a precise technical analysis, you will use the support and resistance lines, which can be static (horizontal) or dynamic (projecting an angle with respect to the horizontal axis).
Your common sense prevails here.
If you show a 10-year-old a chart, they will be able to tell you if the price is going up or down. You will most likely have no idea how to draw the lines, but you will be able to establish the general trend. Simply using your common sense.
By introducing indicators and other gadgets , the simplicity and effectiveness of the technical analysis created by your common sense evaporates.
The following graph conceptually shows you all the possible situations in which you could draw these lines to carry out your technical analysis of the place. You can clearly observe a downtrend delimited by its dynamic trend line and an uptrend on the right side with its respective dynamic delimitation.
https://preview.redd.it/5iehg0r6guv51.png?width=500&format=png&auto=webp&s=84c265a5d35da7ea970792c4bf40fe20b33bd8bd

Forex Charts Analysis

I want to remind you that the formations or patterns that develop on the charts (triangles, wedges, pennants, boxes, etc.) only work to execute trades that have initially been confirmed by the static support and resistance lines and to read the collective thinking of the masses.
Chart formations work, but you must know the Language of Price to determine when the Specialists will exploit a chartist figure, or when they will allow it to run. In fact, you will learn with the Language that you can operate a chart figure in any direction.
Much of the "mentalization" that the masses receive is to believe that the figures are made to be respected. Which is an inefficient way of working. Simply because you could wait days or months for a perfect chart figure to occur in order to perform a reliable trade. When in fact there are dozens every day.

Japanese Candles

Of all the tools you have to carry out technical analysis, perhaps the best known and most popular is the Japanese technique of candles (candlesticks).
Candles are mainly used to identify reversal points on the chart without resorting to confirmation of horizontal trend lines and only using a previous bar or candle breaks.
Its correct use is subject to a multi-time analysis (multiple temporalities) and a general evaluation of the context proposed by the market in general at the time of each scenario.
Later I will show you all the important details to take into account so that you use Japanese candles in a simple and very effective way.
Do not forget ... Trading in your beginnings based on formations (chartism) and candlestick patterns conjugated with hundreds of tools and technical indicators, constitutes the perfect path to your failure. Before using any strategy or technique I recommend you focus on learning the Price Language, which includes 3 basic things:
  • The Price: structure and dynamics
  • Market sentiment: relative strength, external shocks, etc.
  • Psychology: flexible mindset and risk acceptance
After you acquire this solid foundation, I guarantee that you will be able to trade any trading system that exists, any strategy, technique or chart figure in a profitable and consistent manner.
Specialists make money every day at the expense of the collective behavior caused by the use of these strategies and techniques. With which you will only manage to lose your capital and your time by putting the cart in front of the horse.
People who do the opposite, at best become,
... Philosophers of Speculation, or indocile Robot Assistants or Expert Advisors.
To make money in any market condition, range or trend, you must use the technical analysis based on the Price Language and combine it with a correct psychological reading of the price. This knowledge can only be acquired through proper education and lots of supervised practice. Like any other career in life.
I hope you've found this guide helpful!
submitted by kayakero to makemoneyforexreddit [link] [comments]

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

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

Introduction

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

Why use an economic calendar

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

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

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

Reading the economic calendar


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

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

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

Event importance

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

Knowing what's priced in

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

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

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

An example of pricing in

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

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

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

Surveys

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

Interest rates decisions

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

See the link for a demo

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

Second order thinking

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

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

Coming up in part II

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

Dollar rocks on the waves. Analysis as of 28.10.2020

Dollar rocks on the waves. Analysis as of 28.10.2020

Weekly fundamental forecast for the dollar

The fear of coronavirus makes US stock market bulls retreat, which results in the US dollar’s consolidation. The number of new cases hits a record high in the USA. The US also reported record high hospitalization rates since 19 August, while France recorded the highest daily death toll since April. Emmanuel Macron is rumored to introduce another lockdown. That dropped the EURUSD quotes below the bottom of figure 18. The fall might have been deeper if not for expectations of the Democrats’ victory on 3 November.
According to 75% of 59 Reuters experts, a blue wave will be the best option for the US economy. It will help the fiscal stimulus package worth $1.8 trillion pass easily through Congress. Experts forecast that the US GDP will draw down 4% in 2020 and expand 3.7% and 2.9% in 2021-2022, respectively.

Reuters survey: What will support the US economy?

Source: Reuters.
A blue wave and post-election reduction in political uncertainty suggest that volatility may fall. That’s good news for S&P 500 and bad news for the greenback. The world’s largest financial manager BlackRock, which manages assets worth $7.3 trillion, thinks that the USD will be moderately weak for 1-3 years. The giant joints USD bulls, such as Goldman Sachs and UBS. Its position explains why hedge funds are selling out dollars in the forward market.

USD index and speculative positions in USD


Source: Bloomberg.
Uncertainty feeds the dollar. The markets seem to know already the presidential election’s results. The election factor excluded, the second wave may drop EURUSD quotes significantly. We may face the global economy’s double recession and another collapse of the S&P 500 and the greenback’s hike like it was in March. All the previous achievements will be canceled. Few are those who will remember the housing prices’ growth in the USA and the fifth consecutive month of increase in US durable goods orders.

US durable goods orders


Source: Bloomberg.
At first sight, the second pandemic wave must push the ECB to active actions as early as at the 29 October meeting. However, QE expansion won’t solve the COVID-19 issue. European banks stop crediting, fearing bad debt growth. So, Christine Lagarde’s main task is to calm down financial markets. A hint about an additional stimulus in December may help with that task.

Weekly trading plan for EURUSD

Thus, the pandemic returned to Forex’s forefront and consolidated the USD. However, I think it’s still possible to exploit the factor of Joe Biden’s victory in the short term. The EURUSD’s retracement from support at 1.1745 or return to 1.1815 and higher may be a signal to open long positions for impatient and adventurous traders.
For more information follow the link to the website of the LiteForex
https://www.liteforex.com/blog/analysts-opinions/dollar-rocks-on-the-waves-analysis-as-of-28102020/?uid=285861726&cid=62423
submitted by Maxvelgus to Finance_analytics [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]

Universal Bypass - Changelog

Universal Bypass

Changelog

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13.0 — The Design Update

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submitted by Hakorr to UniversalBypass [link] [comments]

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

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

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


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

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

Things you need to know about MT5

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

Types of DMT5 account

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

Why I Think The Emphasis On "Strategy" Is So Misplaced

This is a recurring theme that's come up in people reaching out to me via DM. I'm getting asked a LOT about my 'strategy' and getting requests to review your strategies / trading plans, so I thought I'd bang out a post here as a sort of catch-all. It got to the point where I was copy / pasting the same reply to a number of people.
Strategy is really important. You definitely need a cohesive strategy or set of strategies that help determine what gets you in and out of trades. I personally run a mechanical trend-following system in addition to my discretionary style of trading. Even my discretionary style of trading however, is viewed through a framework that gives me consistent structure to follow on trade after trade.
Now that I've gotten that point out of the way, here is my next statement:* Strategy is COMPLETELY USELESS without having a thorough and expert understanding of the markets in the first place*
Here's my analogy: let's say you really want to get into the fast food business. Now let's say you're fairly smart and you realize that your best chances for success are to buy into an established franchise (McDonald's, Taco Bell, KFC, whatever). Now here's the kicker, who do you think is more likely to succeed at running this franchise? Someone who has worked within the industry their entire lives and knows it inside and out, versus someone with no industry experience. Okay, okay, that question is completely rhetorical; it's obvious who has the edge here.
Trading is no different, and it's why buying a course or finding a guru has let so many of you down so many times before. You're trying to follow an established plan (one that has in fact quite possibly brought success to whomever is selling you their wisdom), but without an expert understanding of the industry you are participating in.
If you reject my premise that knowing your shit when it comes to the macro side of things is important, that's fine. Let's take what seems to be the dominant retail route of pure technical analysis. If you don't know technical analysis inside and out, you are not setting yourself up for success when you buy a course (or even read through a free one like BabyPips). After doing a rough search for Forex courses, I haven't found any technical ones (maybe apart from Adam Grimes. I like Adam; don't know the guy personally, but know of him through colleagues) that actually teach you about technical analysis and not just are feeding you a strategy.
My entire point here is that if you don't engage with the nuts and bolts of the arena in which you're competing, you are at an inherent disadvantage. For example, I've talked to a trader that had Stochastics, RSI, AND MACD on their chart. What is the point of having 3 momentum indicators apart from enjoying a gratuitous circle jerk of redundant 'confirmation'? But this trader didn't know the math behind the indicators, what makes them similar and different, how they can be applied. If they did, then maybe they could have explained in greater detail how having those 3 gives them a defined edge.
My favourite example of a trader who 'knows their shit' is Thomas Bulkwoski. I don't like his style, but you can't deny he has done his homework. He has dived so deep into chart patterns that from memory he can quote you various failure points and success rates for individual patterns. He has meticulously studied what works and what doesn't, and can explain the WHY behind all of that.
If you don't know your shit, you will eat shit. So know your shit! Once you know your shit, then it becomes far easier to strategize.
End of rant :)
submitted by ParallaxFX to Forex [link] [comments]

Wall Street Week Ahead for the trading week beginning September 23rd, 2019

Good Saturday morning to all of you here on wallstreetbets. I hope everyone on this sub made out pretty nicely in the market this past week, and is ready for the new trading week ahead.
Here is everything you need to know to get you ready for the trading week beginning September 23rd, 2019.

Week ahead: As stocks struggle to break to new highs, markets could be swayed by Fed speakers, trade - (Source)

Developments in U.S.-Chinese trade talks and the comments from a host of Fed speakers could be important for markets in the week ahead, as stocks struggle to regain highs.
The Fed in the past week cut interest rates for the second time in two months, but the latest forecasts of Fed officials showed just how divided they are on the need for future rate cuts. Five wanted deeper cuts, five didn’t want any cuts and another seven were happy with the Fed’s action.
“The market seems like it’s pretty jumpy based on what the say. i think it would flip back and forth depending on how the headlines come out,” said Tom Simons, money market economist at Jefferies. Simons said the focus will also be on the Fed’s operations in the short-term funding market, after turbulence in the overnight market in the past week temporarily sent some overnight rates sharply higher.
There are nearly a dozen Fed speakers on the calendar in the coming week, but Fed Chairman Jerome Powell is not scheduled to speak.
Trade developments could continue to cause volatility in markets. Reports Friday that Chinese agriculture officials canceled visits to farms in Montana and Nebraska sent stocks lower, for fear it signaled that talks were not making progress.
Stocks in the past week were lower, with the S&P off about 0.5% to 2,992. The index had been around 1% away from its all-time high for a few weeks.
“Tech that has been out of play and is acting faulty. it’s now turning into a headwind, and that could cause a problem for the bulls,” said Scott Redler, partner with T3Live.com. “I haven’t seen so many mixed signals in the market in quite some time.”
“It’s hard for the market to make new highs without tech. At best, it’s concerning when you see key names, like Amazon and Netflix, not just failing to lead but faltering,” he said. Netflix was down more than 8% for the week, and Amazon was off 2.6%.
Redler said it was a concern that shares of market leader Microsoft gave up its initial gains and turned negative, soon after it announced a buyback and raised its dividend. “Strength was sold instead of embraced,” he said. “That was good news. What are they going to do when bad news happens?”
Following the attacks on Saudi Aramco last week, the United Nations General Assembly in New York and meetings around it take on more importance for markets. U.S. and Saudi Arabian officials have said Iran was behind the attack, which knocked a significant amount of Saudi oil production off line. Iran has denied involvement, and Houthi rebels in Yemen have claimed responsibility.
Iran’ President Hassan Rouhani has been given a visa to travel to New York for the UN. Before the attack on Saudi Arabia last week, President Donald Trump had suggested he would speak to Rouhani but there seems little chance of that now. Oil have been highly volatile, with Brent crude futures up 7% since the attack as Saudi Arabia sought to assure markets that it would be able to bring its operations back on line.
There is some economic data that will also be important to markets. There is manufacturing PMI Monday, important after ISM manufacturing data showed a contraction in August. Durable goods will also be important on Friday, as will personal consumption data, which includes the Fed’s preferred inflation indicator, the core PCE deflator.
“What Powell said in his remarks was inflation was below his target,” said Marc Chandler, chief market strategist at Bannockburn Global Forex. “But even the core PCE deflator is expected to be 1.8, a new high for the year.” The Fed’s target inflation rate is 2%, and other inflation measures have been above that, including core CPI.
The Fed will also be in focus after problems in the overnight funding market, used by banks in need of short term cash. Rates spiked for repo, or repurchase agreements, in a chaotic two-day period Monday and Tuesday. The Fed’s target fed funds rate also moved above its target range, in an unusual move.
The market has since calmed after the Fed carried out open market operations to add liquidity to the market. On Friday, it announced three 14-day operations involving $30 billion as well as continued overnight operations of at least $75 billion each.
“I think the Fed has absolute control over short term rates. It was caught sleeping at the wheel,” said Chandler.
Powell said the Fed would monitor the market and take whatever action is needed. The market is considered the basic plumbing for financial markets, where banks who have a short-term need for cash come to fund themselves. The odd spike in rates was viewed as the result of a cash crunch, not a credit crisis.
Bond market pros have been concerned that the Fed would again see strains in the market at month end, when there’s more activity in the overnight funding market.
“It gets you further past quarter end,” said Jon Hill, rate strategist at BMO. “A 14-day pushes them further into October. I think nerves will have calmed. The fact you’ll see fed funds print clearly in the range will reassert confidence. These operations will serve as a reminder that the Fed can have absolute control the front end if and when it wants to. This is a good thing.”
The funds rate was at 1.90% Thursday, within the target rate range of 1.75% to 2%.
“They’re removing any doubt of their ability to take control of fed funds in the modern framework. They just announced $165 billion over quarter-end , and we may go bigger. They haven’t done a repo injection in 10 years,” said Hill.

This past week saw the following moves in the S&P:

(CLICK HERE FOR THE FULL S&P TREE MAP FOR THE PAST WEEK!)

Major Indices for this past week:

(CLICK HERE FOR THE MAJOR INDICES FOR THE PAST WEEK!)

Major Futures Markets as of Friday's close:

(CLICK HERE FOR THE MAJOR FUTURES INDICES AS OF FRIDAY!)

Economic Calendar for the Week Ahead:

(CLICK HERE FOR THE FULL ECONOMIC CALENDAR FOR THE WEEK AHEAD!)

Sector Performance WTD, MTD, YTD:

(CLICK HERE FOR FRIDAY'S PERFORMANCE!)
(CLICK HERE FOR THE WEEK-TO-DATE PERFORMANCE!)
(CLICK HERE FOR THE MONTH-TO-DATE PERFORMANCE!)
(CLICK HERE FOR THE 3-MONTH PERFORMANCE!)
(CLICK HERE FOR THE YEAR-TO-DATE PERFORMANCE!)
(CLICK HERE FOR THE 52-WEEK PERFORMANCE!)

Percentage Changes for the Major Indices, WTD, MTD, QTD, YTD as of Friday's close:

(CLICK HERE FOR THE CHART!)

S&P Sectors for the Past Week:

(CLICK HERE FOR THE CHART!)

Major Indices Pullback/Correction Levels as of Friday's close:

(CLICK HERE FOR THE CHART!

Major Indices Rally Levels as of Friday's close:

(CLICK HERE FOR THE CHART!)

Most Anticipated Earnings Releases for this week:

(CLICK HERE FOR THE CHART!)

Here are the upcoming IPO's for this week:

(CLICK HERE FOR THE CHART!)

Friday's Stock Analyst Upgrades & Downgrades:

(CLICK HERE FOR THE CHART LINK #1!)
(CLICK HERE FOR THE CHART LINK #2!)
(CLICK HERE FOR THE CHART LINK #3!)

S&P 500 down 23 of 29 during week after September options expiration, average loss 0.95%

The week after September options expiration week, next week, has a dreadful history of declines especially since 1990. The week after September options expiration week has been a nearly constant source of pain with only a few meaningful exceptions over the past 29 years. Substantial and across the board gains have occurred just three times: 1998, 2001, 2010 and 2016 while many more weeks were hit with sizable losses.
Full stats are in the following sea-of-red table. Average losses since 1990 are even worse; DJIA –1.02%, S&P 500 –0.95%, NASDAQ –0.90% and a sizable –1.38% for Russell 2000. End-of-Q3 portfolio restructuring is the most likely explanation for this trend as managers trim summer losers and position for the fourth quarter.
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October Challenging in Pre-Election Years

October often evokes fear on Wall Street as memories are stirred of crashes in 1929, 1987, the 554-point drop on October 27, 1997, back-to-back massacres in 1978 and 1979, Friday the 13th in 1989 and the 733-point drop on October 15, 2008. During the week ending October 10, 2008, Dow lost 1,874.19 points (18.2%), the worst weekly decline in our database going back to 1901, in point and percentage terms. The term “Octoberphobia” has been used to describe the phenomenon of major market drops occurring during the month. Market calamities can become a self-fulfilling prophecy, so stay on the lookout and don’t get whipsawed if it happens.
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Pre-election year Octobers are ranked second from last for DJIA, S&P 500 and NASDAQ while Russell 2000 is dead last with an average loss of 1.9%. Eliminating gruesome 1987 from the calculation provides only a moderate amount of relief. Should a meaningful decline materialize in October it is likely to be an excellent buying opportunity, especially for depressed technology and small-cap shares.

Where’s That September Volatility?

September is historically known as one of the worst for stocks, yet in 2019 the S&P 500 Index is up 2.7% so far amid a sea of scary headlines. Incredibly, the S&P 500 has wavered less than 0.1% from its previous close 6 of the past 10 trading sessions, as it consolidates just beneath all-time highs.
“Over the past two weeks we’ve had the European Central Bank meeting, the Federal Reserve meeting, higher inflation, a historic jump in crude oil, Middle East turmoil, trouble in the repo market, and even multiple NFL quarterbacks sustaining major injuries,” said LPL Financial Senior Market Strategist Ryan Detrick. “Yet, with all of those scary headlines, stocks are actually in the midst of one of the least volatile two-week stretches we’ve seen in years.”
We are quite encouraged by the overall change in market tone we’ve heard recently, with more cyclical names taking the baton and leading, but with the S&P 500 up near our fair value target of 3,000, we would be on the lookout for this sea of tranquility to get rougher at any time. In fact, according to historical calendars, we may need to be on high guard for the second half of September.
As shown in the LPL Chart of the Day, The Second Half of September Can Be Tricky For Stocks, later in the month of September is when we’ve seen seasonal weakness. Things have been going well for equities in the face of some worrisome headlines, but don’t get complacent, as the calendar could be one of the biggest near-term risks.
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The Fed Hits It Down The Middle

“History does not repeat itself, but it rhymes.” Mark Twain
As expected, the Federal Reserve’s (Fed) policy committee cut its policy rate by 25 basis points (.25%) to a target range of 1.75%–2%. This comes on the heels of the first rate cut in more than 10 years at the end of July. This cut is somewhat more controversial, however, because the overall U.S. economic data has been improving, and there’s been a tick higher in inflation.
One of the most important questions heading into this meeting was how many voting Fed members would support additional rate cuts. There were two dissenting voting members at the July rate cut, and once again there were two votes opposed to today’s cut—but unlike last time, there was also one dissenter who favored a larger 50 basis point (.50%) cut. Materials in the economic projections indicated 10 of 17 participants (which includes non-voting members) did not believe additional cuts would be needed over the remainder of the year, although evolving economic conditions could certainly lead to a shift.
As the quote from Mark Twain suggests, by looking back at history we can potentially find clues as to what might happen in the future.
Looking back at the previous two recessions (2001 and 2008), the Fed cut rates 50 basis points (.50%) to kick off the new cycle of rate cuts. We looked back at what the Fed said at the time, and policymakers didn’t foresee a recession; the larger .50% cut might have been their way of showing how worried they really were at the time. In other words, maybe the Fed knew there potentially was trouble under the surface.
Compare this with three consecutive 25 basis point (.25%) cuts in the 1995/1996 and 1998 rate cut cycles, which led to continued equity gains and avoided recessions. Given we foresee one more cut this year, could it be another three cuts of 25 basis points (.25%) and then an economic acceleration?
“Here’s the catch. When the first two cuts in a new cycle of rate cuts are only 25 basis points, this could be the Fed’s way of truly viewing the cuts as insurance,” explained LPL Financial Senior Market Strategist Ryan Detrick. “In fact, the past five cycles of cuts that started with two 25 basis point cuts saw the S&P 500 Index move higher 6 and 12 months later every single time.”
As shown in the LPL Chart of the Day, Stocks Have Historically Done Well If The First Two Fed Rate Cuts Are 25 Basis Points, the S&P 500 was up an average of 9.7% six months after the second of two 25 basis point cuts to kick off a new cycle of rate cuts. Going out a year, the S&P 500 had gained a very impressive average of 16.7%.
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Strong Start for September, but Second Half Could Bring Trouble

As of Friday’s close the market is well above historical average performance in September. DJIA was up nearly 3.1%, S&P 500 was up 2.8%, NASDAQ and Russell 1000 were up 2.7% while Russell 2000 was up 5.6%. Small-caps outperforming large-caps recently is not unusual and they did so again today. However, the second half of September has historically been weaker than the first half. The week after options expiration week can be treacherous with S&P 500 logging 23 weekly losses in 29 years since 1990. End-of-quarter portfolio restructuring, and window dressing can amplify the impacts of any negative headlines.
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Broader Transports Still Outperforming YTD

With shares of FedEx (FDX) on pace for their second worst earnings reaction day since at least 2001, the Dow Transports, an index in which FDX has a weighting of over 8% (after today's decline), is down close to 2%. Historically, the Transports have been considered a leading indicator of the economy, so the weakness in FDX, and by extension, the Dow Transports, is resulting in heightened concerns over the state of the economy. Looking at the chart below, the picture for the Transports doesn't look pretty. The timing of today's decline couldn't have been worse as it came just as the Transports were attempting to break above the highs from July, but now it just looks like the second lower high this year. Following today's declines, the Dow Transports are up 14.7% YTD which is about five percentage points behind the performance of the S&P 500.
(CLICK HERE FOR THE CHART!)
Given the changes in the US economy over time, we've been skeptical of the continued predictive ability of the Transports, but even putting that aside for a moment, a broader look at Transports shows a less pessimistic picture. The chart below shows the performance of the stocks in the S&P 1500 index on an equal-weighted basis so far in 2019. By this measure, today's decline comes after the index made a higher high, and while it's back below those former highs today, with a gain of 20.5% YTD, this broader look at transports is still outperforming the S&P 500 on a YTD basis. It may not be a great picture for this group of transport stocks, but it doesn't really look bad either.
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STOCK MARKET VIDEO: Stock Market Analysis Video for Week Ending September 20th, 2019

(CLICK HERE FOR THE YOUTUBE VIDEO!)

STOCK MARKET VIDEO: ShadowTrader Video Weekly 09.22.19

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Here are the most notable companies (tickers) reporting earnings in this upcoming trading week ahead-
  • $MU
  • $NIO
  • $AZO
  • $KMX
  • $NKE
  • $BB
  • $RAD
  • $CMD
  • $ACN
  • $UXIN
  • $JBL
  • $INFO
  • $CAG
  • $DAVA
  • $MANU
  • $SNX
  • $FDS
  • $KBH
  • $UEPS
  • $ATU
  • $CTAS
  • $MTN
  • $AGTC
  • $WOR
  • $PIR
  • $ISR
  • $DLNG
  • $CAMP
  • $AIR
  • $FUL
  • $PRGS
  • $CMTL
  • $DYNT
  • $RBZ
(CLICK HERE FOR NEXT WEEK'S MOST NOTABLE EARNINGS RELEASES!)
(CLICK HERE FOR NEXT WEEK'S HIGHEST VOLATILITY EARNINGS RELEASES!)
(CLICK HERE FOR MOST ANTICIPATED EARNINGS RELEASES FOR THE NEXT 5 WEEKS!)
Below are some of the notable companies coming out with earnings releases this upcoming trading week ahead which includes the date/time of release & consensus estimates courtesy of Earnings Whispers:

Monday 9.23.19 Before Market Open:

(CLICK HERE FOR MONDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!)

Monday 9.23.19 After Market Close:

([CLICK HERE FOR MONDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES LINK!]())
NONE.

Tuesday 9.24.19 Before Market Open:

(CLICK HERE FOR TUESDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES LINK!)

Tuesday 9.24.19 After Market Close:

(CLICK HERE FOR TUESDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES LINK!)

Wednesday 9.25.19 Before Market Open:

(CLICK HERE FOR WEDNESDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES LINK!)

Wednesday 9.25.19 After Market Close:

(CLICK HERE FOR WEDNESDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES LINK!)

Thursday 9.26.19 Before Market Open:

(CLICK HERE FOR THURSDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES LINK!)

Thursday 9.26.19 After Market Close:

(CLICK HERE FOR THURSDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES LINK!)

Friday 9.27.19 Before Market Open:

([CLICK HERE FOR FRIDAY'S PRE-MARKET EARNINGS TIME & ESTIMATES!]())
NONE.

Friday 9.27.19 After Market Close:

([CLICK HERE FOR FRIDAY'S AFTER-MARKET EARNINGS TIME & ESTIMATES!]())
NONE.

Micron Technology, Inc. $49.16

Micron Technology, Inc. (MU) is confirmed to report earnings at approximately 4:05 PM ET on Thursday, September 26, 2019. The consensus earnings estimate is $0.43 per share on revenue of $4.51 billion and the Earnings Whisper ® number is $0.49 per share. Investor sentiment going into the company's earnings release has 67% expecting an earnings beat The company's guidance was for earnings of $0.38 to $0.52 per share. Consensus estimates are for earnings to decline year-over-year by 87.92% with revenue decreasing by 46.56%. Short interest has decreased by 21.7% since the company's last earnings release while the stock has drifted higher by 37.1% from its open following the earnings release to be 23.2% above its 200 day moving average of $39.90. Overall earnings estimates have been revised lower since the company's last earnings release. On Friday, September 20, 2019 there was some notable buying of 12,865 contracts of the $50.00 put expiring on Friday, September 27, 2019. Option traders are pricing in a 7.5% move on earnings and the stock has averaged a 7.1% move in recent quarters.

(CLICK HERE FOR THE CHART!)

NIO Inc. $3.04

NIO Inc. (NIO) is confirmed to report earnings at approximately 4:30 AM ET on Tuesday, September 24, 2019. Investor sentiment going into the company's earnings release has 51% expecting an earnings beat The company's guidance was for revenue of $169.00 million to $193.00 million. Short interest has increased by 25.8% since the company's last earnings release while the stock has drifted lower by 26.2% from its open following the earnings release to be 39.6% below its 200 day moving average of $5.03. On Wednesday, September 4, 2019 there was some notable buying of 40,590 contracts of the $1.50 put expiring on Friday, November 15, 2019. Option traders are pricing in a 17.1% move on earnings and the stock has averaged a 9.7% move in recent quarters.

(CLICK HERE FOR THE CHART!)

AutoZone, Inc. -

AutoZone, Inc. (AZO) is confirmed to report earnings at approximately 7:00 AM ET on Tuesday, September 24, 2019. The consensus earnings estimate is $21.64 per share on revenue of $3.94 billion and the Earnings Whisper ® number is $21.98 per share. Investor sentiment going into the company's earnings release has 62% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 16.72% with revenue increasing by 10.71%. Short interest has increased by 23.5% since the company's last earnings release while the stock has drifted higher by 15.1% from its open following the earnings release to be 15.6% above its 200 day moving average of $1,003.22. Overall earnings estimates have been revised higher since the company's last earnings release. Option traders are pricing in a 5.8% move on earnings and the stock has averaged a 6.7% move in recent quarters.

(CLICK HERE FOR THE CHART!)

CarMax, Inc. $84.63

CarMax, Inc. (KMX) is confirmed to report earnings at approximately 7:35 AM ET on Tuesday, September 24, 2019. The consensus earnings estimate is $1.33 per share on revenue of $5.03 billion and the Earnings Whisper ® number is $1.38 per share. Investor sentiment going into the company's earnings release has 63% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 7.26% with revenue increasing by 5.54%. Short interest has increased by 0.7% since the company's last earnings release while the stock has drifted lower by 3.6% from its open following the earnings release to be 14.9% above its 200 day moving average of $73.63. Overall earnings estimates have been revised higher since the company's last earnings release. On Friday, September 6, 2019 there was some notable buying of 1,023 contracts of the $92.50 call expiring on Friday, October 18, 2019. Option traders are pricing in a 7.2% move on earnings and the stock has averaged a 6.0% move in recent quarters.

(CLICK HERE FOR THE CHART!)

Nike Inc $86.68

Nike Inc (NKE) is confirmed to report earnings at approximately 4:15 PM ET on Tuesday, September 24, 2019. The consensus earnings estimate is $0.71 per share on revenue of $10.45 billion and the Earnings Whisper ® number is $0.76 per share. Investor sentiment going into the company's earnings release has 65% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 5.97% with revenue increasing by 5.05%. Short interest has increased by 0.4% since the company's last earnings release while the stock has drifted higher by 3.2% from its open following the earnings release to be 5.1% above its 200 day moving average of $82.50. Overall earnings estimates have been revised lower since the company's last earnings release. On Monday, September 16, 2019 there was some notable buying of 4,646 contracts of the $84.00 call expiring on Friday, September 27, 2019. Option traders are pricing in a 5.2% move on earnings and the stock has averaged a 4.5% move in recent quarters.

(CLICK HERE FOR THE CHART!)

BlackBerry Limited $7.54

BlackBerry Limited (BB) is confirmed to report earnings at approximately 7:00 AM ET on Tuesday, September 24, 2019. The consensus estimate is for a loss of $0.01 per share and the Earnings Whisper ® number is $0.01 per share. Investor sentiment going into the company's earnings release has 32% expecting an earnings beat. Consensus estimates are for earnings to decline year-over-year by 150.00% with revenue increasing by 375.71%. Short interest has increased by 1.0% since the company's last earnings release while the stock has drifted lower by 9.2% from its open following the earnings release to be 6.9% below its 200 day moving average of $8.10. Overall earnings estimates have been revised higher since the company's last earnings release. On Tuesday, September 17, 2019 there was some notable buying of 2,012 contracts of the $8.00 call expiring on Friday, September 27, 2019. Option traders are pricing in a 9.9% move on earnings and the stock has averaged a 7.9% move in recent quarters.

(CLICK HERE FOR THE CHART!)

Rite Aid Corp. $7.40

Rite Aid Corp. (RAD) is confirmed to report earnings at approximately 7:00 AM ET on Thursday, September 26, 2019. The consensus earnings estimate is $0.08 per share on revenue of $5.42 billion and the Earnings Whisper ® number is $0.10 per share. Investor sentiment going into the company's earnings release has 50% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 900.00% with revenue decreasing by 0.03%. Short interest has increased by 22.2% since the company's last earnings release while the stock has drifted higher by 5.1% from its open following the earnings release to be 36.4% below its 200 day moving average of $11.64. On Wednesday, September 18, 2019 there was some notable buying of 580 contracts of the $7.00 call expiring on Friday, October 18, 2019. Option traders are pricing in a 20.7% move on earnings and the stock has averaged a 20.5% move in recent quarters.

(CLICK HERE FOR THE CHART!)

Cantel Medical Corp. $85.02

Cantel Medical Corp. (CMD) is confirmed to report earnings at approximately 8:00 AM ET on Monday, September 23, 2019. The consensus earnings estimate is $0.61 per share on revenue of $238.60 million and the Earnings Whisper ® number is $0.61 per share. Investor sentiment going into the company's earnings release has 55% expecting an earnings beat. Consensus estimates are for earnings to decline year-over-year by 1.61% with revenue increasing by 4.26%. Short interest has increased by 47.7% since the company's last earnings release while the stock has drifted higher by 27.5% from its open following the earnings release to be 10.7% above its 200 day moving average of $76.78. Overall earnings estimates have been revised lower since the company's last earnings release. On Friday, September 20, 2019 there was some notable buying of 571 contracts of the $90.00 call expiring on Friday, October 18, 2019. Option traders are pricing in a 7.0% move on earnings and the stock has averaged a 6.9% move in recent quarters.

(CLICK HERE FOR THE CHART!)

Accenture Ltd. $193.09

Accenture Ltd. (ACN) is confirmed to report earnings at approximately 6:50 AM ET on Thursday, September 26, 2019. The consensus earnings estimate is $1.71 per share on revenue of $11.08 billion and the Earnings Whisper ® number is $1.74 per share. Investor sentiment going into the company's earnings release has 67% expecting an earnings beat. Consensus estimates are for year-over-year earnings growth of 8.23% with revenue increasing by 4.11%. Short interest has increased by 23.3% since the company's last earnings release while the stock has drifted higher by 8.0% from its open following the earnings release to be 11.3% above its 200 day moving average of $173.47. Overall earnings estimates have been unchanged since the company's last earnings release. On Friday, September 13, 2019 there was some notable buying of 1,279 contracts of the $115.00 put expiring on Friday, November 15, 2019. Option traders are pricing in a 4.5% move on earnings and the stock has averaged a 4.2% move in recent quarters.

(CLICK HERE FOR THE CHART!)

Uxin Limited $3.26

Uxin Limited (UXIN) is confirmed to report earnings before the market opens on Monday, September 23, 2019. The consensus estimate is for a loss of $0.09 per share. Investor sentiment going into the company's earnings release has 66% expecting an earnings beat The company's guidance was for revenue of $130.00 million to $137.00 million. Consensus estimates are for earnings to decline year-over-year by 200.00% with revenue increasing by 892.95%. The stock has drifted higher by 44.9% from its open following the earnings release to be 4.5% below its 200 day moving average of $3.41. Overall earnings estimates have been revised lower since the company's last earnings release. On Friday, September 20, 2019 there was some notable buying of 509 contracts of the $4.00 call expiring on Friday, October 18, 2019. Option traders are pricing in a 24.5% move on earnings and the stock has averaged a 10.5% move in recent quarters.

(CLICK HERE FOR THE CHART!)

DISCUSS!

What are you all watching for in this upcoming trading week?
I hope you all have a wonderful weekend and a great trading week ahead wallstreetbets.
submitted by bigbear0083 to wallstreetbets [link] [comments]

87. Forex Trading - How to Read a Currency Quote FOREX AND TAXES  WHAT YOU NEED TO KNOW !  FOREX TRADING ... Understanding Forex Quotes Investopedia Videos Not known Details About FOREX TRADING: The Basics ... Financial Management - Forex - Exchange Rate quotes Ten Tips for BEGINNER FOREX TRADERS! - YouTube What are Base and Quote Currencies?  FXTM Learn Forex in ...

Bid and Ask Quotes . There are two parts to a forex quote, a bid and an ask. Here's another forex quote that helps make clear the meaning of these terms in the forex market: EUR/USD = 1.3600/05 Here the bid is 1.3600, and the ask is 1.3605. Since the difference between a bid and an ask price in normal circumstances is a very small fraction ... Know Your Metrics: Forex Quotes Explained. by dave February 7, 2020. written by dave February 7, 2020. As much as I believe in a buck, I didn’t admire the fact that th e Forex market radiates around the US dollar. This even comes to the point where the term “cross rate” doesn’t have its initial meaning. Before a while, in any country, “cross rate” was a currency pair that doesn’t ... When trading Forex, the software doesn’t necessarily measure your trades with quotes. It measures them with lots. A lot is basically a number of currency units. For example, $100,000 is 1 standard lot, $10,000 is one mini lot and etc. When measuring the volume of your trades, you will never see direct quotes used as a unit of measurement. Now that you know how to read Forex quotes, you are one step closer to becoming a real life professional trader. Live Trading With Admiral Markets. If you're aiming to take your trading to the next level, the Admiral Markets live account is the perfect place for you to do that! Trade Forex & CFDs on 80+ currencies, from a range of Forex majors, Forex minors, and exotic currency pairs, with ... It’s actually quite easy to evaluate forex quotes once you get the hang of it, and the fastest way to learn is by considering some examples: EUR/USD 1.2786 . So what does the above quote tell us? What it says is that 1 Euro is able to buy 1.27 units of the US currency. Or, continuing on our previous transaction, we would have to pay. 127 USD for 100 Euros we wanted to buy. But in fact this ... All FX traders starting out should learn how to read forex quotes. Our guide covers the basics of reading currency pairs and what a quote tells traders forex quotes explained. The most traded pairs of currencies in the world are called the Majors. In everyday foreign exchange market trading and news reporting, the currency pairs are often referred to by nicknames rather than their symbolic nomenclature. These are often reminiscent of national or geographic connotations. Currencies are traded in fixed contract sizes, specifically called lot ...

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87. Forex Trading - How to Read a Currency Quote

In forex, currencies are traded in pairs. The first currency is called the base currency and the second currency is called the quote currency. So for example... Loading... Rating is available when the video has been rented. This feature is not available right now. Please try again later. Published on Nov 23, 2013. Loading... Autoplay. When autoplay is ... Forex Trade With Us http://bit.ly/2EYIbgI Email: [email protected] Brokers I use https://bit.ly/35kgYkc P.S MY INSTAGRAM IS GONE NOW SO IF SOMEBODY W... https://bit.ly/2TEdSSR Forex Market is an interesting place. The one good idea about participating in the forex market is that you can trade anytime accordin... Practice reading quotes with a free demo trading account: http://bit.ly/IT-forex-demo3 A lesson on how to read a currency quote for active traders and investors in ... Hey everyone! This is a video that I feel like all beginner forex traders to take into account when starting their forex journey. If you would like to join m... This Video explains the Different currency quotes in foreign Exchange Management in Financial Management. This video will be helpful for CA, CS, CMA Students.

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