/biz/ - Why is forex trading a waste of time. 20 words or ...

New Zealand Forex Traders

Forex trading subreddit - New Zealand
[link]

Now its time to do things properly.

Now its time to do things properly.
Reddit peps, I have a confession. Over the last while I've been kinda fudging results of trades tracked to give the appearance of worse performance than is actually achieved. Here's why.

See, I've wanted for such a long time to bring out the honesty in those who put so much effort into slandering me here on Reddit. To give them the opportunity to track results that are transparent and post them. It'd let them do what they claim, which is to show people the truth of my trading results. They've been very resistant to this.
First I tried to do it in the fairest and most objective way lettting them have demo accounts under their control that I could not manipulate and just copy over trades to them. I offered full access to my accounts and my only condition was that they share the resuts. I tried a few variations of this and it didn't work. So I moved onto less conventional ideas.
I started to set up accounts, link tracking and then bomb them (Or part bomb them and stop updating results and try to recoup some of my losses on the bigger ones). My theory was if I bomb a few accounts, they'll then post the links. These are "hot links" and I can change the accounts attached. So I'd let them post some links and then add some accounts to trade properly.
Then either they can have the links they posted showing the truth (Thier stated goal) or they can delete the links when the trades are shown to be profitable and .. well, we get the truth one way or the other. It's my theory most of the posts making dubious claim about me a) Come from one person. b) Come from someone who would not embrace an honest test. I've positioned to test this.

The other day I got what I was waiting for. They posted the links from one of the more active of the alt accounts they use.

https://preview.redd.it/gf1xvhep18v51.png?width=596&format=png&auto=webp&s=83e48504f5b2b2e5f639265e0680532ac36508d0
Here is the link to this. It is currently up. If it is not there when you click it. "Deleted by user", that's the truth for you. https://www.reddit.com/SPXsignals/comments/ja8mug/rspxsignals_lounge/

Once this step was done I turned back on the comments on my posts. I needed a litte more and for me to get that I needed to get some comments on the go. Predicably enough, along comes an alt. A new one this time. This alt tells me they have nothing to do with the poster in the image above.

https://preview.redd.it/c0fjuxk928v51.png?width=595&format=png&auto=webp&s=759504d263885b30506008c092c454ca8d006057
Then alt 2 made the same post on a thread I made and then everything was set. Time to break cover.
https://preview.redd.it/zcuybvjm68v51.png?width=510&format=png&auto=webp&s=c74a28f1e06fdd547a624baed926331440cfa460

https://preview.redd.it/4s18lnep28v51.png?width=501&format=png&auto=webp&s=3c1ce47556d8c65363243fc4ff9683a0125aa28f
Within 10 seconds of me posting this, the comment was deleted. That's why I took screenshots before I said it.

Then our fresh faced alt steps up with the copy and paste of the exact same post. Link is currently live. I won't delete it, we'll see if it stays there. https://www.reddit.com/use2020sbeacomments/jh7npb/telegram_channels/g9yqq12/?utm_source=reddit&utm_medium=web2x&context=3
https://preview.redd.it/2ft4tai038v51.png?width=567&format=png&auto=webp&s=2fc4866290d4cfe88b99bc0d30bb08f3e696b1eb
I'll let you draw your own conclusions on all of that.

Here were the last updated results of the linked acounts. This was what it took to get them to post the links.


https://preview.redd.it/4c8ng0ng38v51.png?width=843&format=png&auto=webp&s=c071b33d7cf128e34b6d876a3d38bd8590bb0f4c

https://preview.redd.it/002mow8j38v51.png?width=809&format=png&auto=webp&s=6a6125d2e0cafe2cd4361b0ac984e0954726e2a7

https://preview.redd.it/kry2jacq38v51.png?width=820&format=png&auto=webp&s=bfaeef81dc13ddf019dec2c5c2eca79bbb7472c3
https://preview.redd.it/x0eyhh6x38v51.png?width=838&format=png&auto=webp&s=760e067a8ab477207cf0d692eb3e50e3933a5c37
Here are the applicable lnks;


I'll leave these as they are for a little while (About 12 hours from now). If you check the trade history of these accounts vrs my posting history you'll see none of the losses made were from trades I posted. Actually sometimes I inverted the trades I posted to generate losses. You can see this in the "History" tab and of course you know how to see my Reddit posts.
Heading into Monday I will attach new accounts to this and we can then run phase two of the test. I could just upload accounts already running and proftable to this, but I think it's best to do everything in real time and in the open. From now on I will be trading the same positions as I post and tracking the results of these.

You can find these results at the links above as of Monday.

Now I'll trade and track results properly and we get to do a proper experiement into the real motives and nature of everyone involved. I've said it for months, the truth of people will be revealed by their own actions. Just a case of waiting untl the time is right. From now on I'll only trade the things I post in my subs/forum. No messing about. If they bomb this time, I suck. If not, let's see what happens :)
submitted by 2020sbear to u/2020sbear [link] [comments]

Everything You Always Wanted To Know About Swaps* (*But Were Afraid To Ask)

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

(FINAL) Part VIII: My 10 Minutes/Day Trading Strategy

(FINAL) Part VIII: My 10 Minutes/Day Trading Strategy
(FINAL) Part VIII: Checklist & Trade Examples
This concludes the series. If you have any questions, please post them on the thread so everyone else can benefit from getting an answer. I will do follow up posts with my scans of the 5pm EST timeframe. I can't commit to doing this every day, but I will do my best to keep it somewhat regular. At least this way you will see what my eyes are looking for in terms of real-time setups.
You can view the previous parts here:
Part I: https://www.reddit.com/Forex/comments/h0iwbu/part_i_my_10_minuteday_trading_strategy/
Part II: https://www.reddit.com/Forex/comments/h7m1jh/part_ii_10_minuteday_trading_strategy/
Part III: https://www.reddit.com/Forex/comments/h97sv7/part_iii_my_10_minutesday_trading_strategy/
Part IV: https://www.reddit.com/Forex/comments/hcssjp/part_iv_my_10_minutesday_trading_strategy/
Part V: https://www.reddit.com/Forex/comments/hd70rd/part_v_my_10_minutesday_trading_strategy/
Part VI: https://www.reddit.com/Forex/comments/hee2o0/part_vi_my_10_minutesday_trading_strategy/
Part VII: https://www.reddit.com/Forex/comments/hhf2mk/part_vii_my_10_minutesday_trading_strategy/


Checklist for my strategy:

  1. 2-candle setup occurring either at/through the UBB/LBB or as a bounce off the MBB
  2. Indecision candle / weak candle followed by a candle that makes a higher high and higher close (for a bull setup) or a candle that makes a lower low and lower close (for a bear setup).

  1. The setup candle should not close above/below its 38.2% retracement level
  2. For a trade off the UBB, stochastic should be overbought.
  3. For a trade off the LBB, stochastic should be oversold
  4. For a trade off the MBB, stochastic are not as relevant. For the ideal MBB trade, you want the stochs to be crossed in the direction you plan on trading in. This is what I would call a strong guideline, not a fixed rule
  5. Make sure you have as much “open sky” in front of your trade as possible. You don’t want to be selling into support or buying into resistance. One big trick here is to make sure the Bollinger bands are sufficiently widened. Each BB can act as support/resistance.
*I will keep this last section short and sweet. I could go on forever posting examples of good & bad trades.*
GOOD SETUPS:

https://preview.redd.it/t5p5h0ruqw751.png?width=2744&format=png&auto=webp&s=923a7abd2f7c69a8083930a523fba39d560d667e
https://preview.redd.it/s19hw0ruqw751.png?width=2744&format=png&auto=webp&s=9f7bcb906e058f49aaf2c7378ac0b1fdbf16ad63
https://preview.redd.it/x43xqqruqw751.png?width=2744&format=png&auto=webp&s=1c7af838351b8653a8953c1a458ffc6672ac8af8
https://preview.redd.it/wtgcsrruqw751.png?width=2744&format=png&auto=webp&s=a22717ee9026d25023eb2107bc302dc2b676a644
BAD SETUPS:
https://preview.redd.it/bdboo1vvqw751.png?width=2744&format=png&auto=webp&s=26289f65d91de3a911fb986f02c17840227d488a
https://preview.redd.it/n0xxt1vvqw751.png?width=2744&format=png&auto=webp&s=b5a7921f1bee4c176ab6012995692e8cb36215fe
submitted by ParallaxFX to Forex [link] [comments]

H1 Backtest of ParallaxFX's BBStoch system

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

Background

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

System Details

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

And now for the fun. Results!

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

A Note on Spread

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

Time of Day

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

Moving stops up to breakeven

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

2-Candle vs Confirmation Candle Stops

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

Correlated Trades

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

What I will trade

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

Other Technical Details

Raw Data

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

Insanely detailed spreadsheet notes

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

Pairs

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

TL;DR

Based on the reasonable rules I discovered in this backtest:

Demo Trading Results

Since this post, I started demo trading this system assuming a 5k capital base and risking ~1% per trade. I've added the details to my spreadsheet for anyone interested. The results are pretty similar to the backtest when you consider real-life conditions/timing are a bit different. I missed some trades due to life(work, out of the house, etc), so that brought my total # of trades and thus overall profit down, but the winrate is nearly identical. I also closed a few trades early due to various reasons(not liking the price action, seeing support/resistance emerge, etc).
A quick note is that TD's paper trade system fills at the mid price for both stop and limit orders, so I had to subtract the spread from the raw trade values to get the true profit/loss amount for each trade.
I'm heading out of town next week, then after that it'll be time to take this sucker live!

Live Trading Results

I started live-trading this system on 8/10, and almost immediately had a string of losses much longer than either my backtest or demo period. Murphy's law huh? Anyways, that has me spooked so I'm doing a longer backtest before I start risking more real money. It's going to take me a little while due to the volume of trades, but I'll likely make a new post once I feel comfortable with that and start live trading again.
submitted by ForexBorex to Forex [link] [comments]

TSM and Me 2020

TSM has been on my radar since I started saving to invest in 2018 because of AMD / GlobalFoundries. Really interesting business model for Semis AMD has.
In 2019, you couldn't get away from heating up of the trade war. Congress began debating SAR for HK around the end of Hong Kong's "2019 Summer of Love" and rumors of what happens in the "re-education" camps / "Where did the Falun Gong practitioners go?" This is important because of the SWIFT system of world banking. HK is how they get dollars.
Then in November of 2019, this happened..
https://en.m.wikipedia.org/wiki/Hong_Kong_Human_Rights_and_Democracy_Act#Related_bill
Arizona plant news is where the tin foil ends and the conviction began for me. The Foundry is basically THE corporation of Taiwan. The Great Cheetoh has been making deals around the world, and technically Taiwan isn't China. We have recent armament deals with Taiwan and Japan to prove it.
https://youtu.be/TLKt9yPb-f0
Why not?? Seemed like the American thing to do and there is a republican in office hell-bent on decoupling US communications tech from the CCP aka ROC.
In Feb / March... Rona. April the economic fallout, news about bad PPE and tests from China being sold to Italy. In May all the US boats in Taiwanese waters and the rhetoric worldwide basically reflecting that the world isn't happy with the CCP.
I had the balance for a RH call and it made more sense than an airline play at the time, so i got in.
Anti CCP rhetoric started heating up and bi-partisan on the YouTube's, by the way, it seems 2020 is the year NBC (Comcast) discovered ad-revenue. Thank you Lester.
At this point morning wood for TSM was a regular thing, so i set my limits on call options for both accounts, and incorporated into the LT DRIP. Thank you Papa Powell. I'm still poor, couldn't have done it without you...
Then it seemed to be heating up at the end of May. Everyone is like WTF 'mate on the "One Belt. One Road." Initiative, both the geographical and digital. People are really starting to report on not-so-great stories out of China, and not just tinfoil or Epoch Times channels.
Lot of shade being thrown on China tech, and things are heating up in S China Sea.
https://youtu.be/6KiLhxgIBys
https://youtu.be/BTgDYhtr-LU
...looks like Chy-na is on everyone's shit list, including Australia. Forex folks know how dope-tied the Aussie's and Kiwis are to CCP trade relations.
The rumor was potential decouple from China. I mean the world is kinda dope-tied to Santa's little elves. I just realized how weird Christmas will be...
I bought my shares for both accounts as per the voodoo ritual of purchasing at least 1 stock of a long term call strategy. Got my hand deep (for me) in the cookie jar May and June.
http://imgur.com/gallery/xb7ptte
http://imgur.com/gallery/ToFdT3z
Third week of July called a bull flag on hourly:
https://www.reddit.com/wallstreetbets/comments/hwz949/daily_discussion_thread_for_july_24_2020/fz4bi1b?utm_medium=android_app&utm_source=share
July 24th, I got filled to the teeth in RH and my now free play in Webull was up 1,600%.
http://imgur.com/gallery/0fB3FEp
THEN July 27th, I closed my "free play" in Webull at $1,250. A little over 3,000% between 2 contracts that cost $75 total.
Along the way, i picked up RH tendies and rebalanced the cash / bought more contracts and shares. They're officially part of the DRIP.
http://imgur.com/gallery/UFKPnOz
Related post I made last week regarding TSM and INTC. Any thoughts on how US semi production will play out for them?
https://www.reddit.com/wallstreetbets/comments/i0jqtu/opinions_on_taiwan_semiconducto?utm_medium=android_app&utm_source=share
Last week, The Fool confirmed many of the LT bias I had been building up on a win for The Foundry since November. All hype, or real talk?
https://www.fool.com/investing/2020/07/31/3-tailwinds-are-lifting-tsmcs-stock-to-new-all-tim.aspx
Financial analysis- This guy is boring af, but he goes through the numbers that no one likes to read, records in mobile, and is cool enough to zoom in on what he is talking about.
https://youtu.be/wVxF7wwuogo
Can anyone see a downside other than "COVID CLAP Trumps all"? Maybe I've been chewing too much YouTube tinfoil on lunch, but the limit orders that are closing 930-4pm are making me think I've hit the Autistic Lottery. Wish I had bought more.
Friday, all I could see was a bull flag on the 4hr and 30min charts. Monday 8/03 it hasn't shit the bed at 11am EST. Maybe thats just the tin foil talking again and this is the ceiling.
http://imgur.com/gallery/nRYKBB5
Still in, and potentially interested in more contracts.
Open positions- http://imgur.com/gallery/naF9dik
submitted by aipipcyborg to wallstreetbets [link] [comments]

The Inaugural ASX_Bets Rivken Cup

Hello you downy shitbirds.
I have decided to take on the role of getting the first, of what will likely be a very short-lived, ASX_Bets competition started. I feel that by 'running' the competition, I might be able to make it less shitty and cringeworthy than some of you.
Firstly, the name. I know Rene Rivken is not exactly the most contemporary reference, and I had considered other names, like the Bradbury Cup (still not super recent, but probably a better predictor of what I see happening with this competition). The reason I went with Rivken is in 2001, Rene Rivken had a meeting with the CEO of Impulse Airlines (I don't remember them either) who told Rivken that Impulse was likely going to merge with QANTAS. Rivken leaves the meeting, and HOURS LATER buys 50,000 QANTAS shares. He is convicted of insider trading, after making $2,664.94 on the trade. This is just a beautiful story, and I think it needs to be memorialised.
Ok, now that we've got that out of the way. The rules are fairly straight forward:
  1. On 18 May (yes, 18 May - you can wait one fucking week) you must purchase no more than AUD$1,000 (including brokerage) worth of any Australian financial product. Evidence must be provided in the form of a screenshot. Just take a screenshot and upload it to imgur and link it. Don't DM me.
  2. I will make a new thread every Friday evening, where EVERYONE MUST POST their weekly trades by Sunday 6.00pm. If you baghold for the week, you can just provide an update on the value.
  3. This is a YOLO competition. Pick one product and roll with it, sell, repeat. I don't actually care about it being a YOLO competition per se, I just don't want to have to keep track of 10 different stocks and the buying and selling. You can hedge outside of the competition if you must.
  4. You lose any value that is not rolled into your next trade. I.e. if your first trade is 1k - 1.2k, your next trade must be worth 1.2k. You can take profits, but that value is lost moving forward. This is because I am not Rain Man and won't keep track of all your leftovers. This is also to prevent the inevitable "I saved $86 in week 1, $47 in week 2, and here is some random penny stock trade that I made with leftovers that went +900% and now I win." - Everything must be on the table in the weekly updates.
  5. The competition will end at 6.01am AEDT Saturday, 27 June. The winner will be the person with the highest total MARKET VALUE at that point. If you are still holding your products, fine. You don't have to sell, but the market value will be used to determine their value. Not your vibe; not what you think they're worth; not what they might be worth at expiry.
  6. The following are all acceptable products to trade:
I'm not sure if we should allow US options. Please discuss (I have ended the competition assuming we are). I think this should be a level playing field competition and many people don't have US Options accounts, so happy to go either way.
Let me know what you all think. Everything is up for debate (including the cup name), but at least now we have a starting point for those discussions.
submitted by Ratty-fish to ASX_Bets [link] [comments]

Surge of New Forex Traders? Read this!

I've noticed that about 2,000 people have joined the Forex community in the recent weeks. Has anyone else noticed this? I suspect this is because of the lay offs due to the corona virus, and people are frantically looking for ways to supplement their incomes. While I'm glad that people are trying to better themselves and take control of their financial situations, I have to admit that the daily "newbie" questions are getting quite annoying. And it's not because there are new, inexperienced traders asking for help, but it's because the questions are more-less the same questions. I know there is a pinned "New Traders" section at the top of the thread, but it seems it isn't catching much traction.
But first, to the new traders I'd first like to say:

Welcome! This will be a tough journey, but it will pay in dividends (not literally).
A couple tips before we start:
FIRST, see the pinned New Traders section of Forex
SECOND, go to babypips and take their FREE courses where you will learn the basics. I never did because I'm an idiot, and it took me many years of trial and error to succeed in this game. Don't be a lemon like me, go to babypips.
Now my basics;
Always have at least a 1:2 Risk:Reward. Simply put, risk at least $1 for $2.
Always set a stop loss and take profit.
In the beginning, I find it best to give new traders a black or white, go-or-no-go trading strategy. Trade mechanically. While discretionary trading is profitable, you need years of experience and time in the charts to be good at it. It could be something like, "I only trade low volatility break outs on the 4hr. Any candle below x ATR and I will enter via stop order at the high/low of that candle. My sl will be at the high/low of the entry candle, and I will look to make at least 2 reward on that trade. I will risk 1% per trade, even on demo, and I will trade in the direction of a 10 period moving average" This is a VERY crude strategy, one I just pulled out of my ass, so don't go using it and blowing your accounts!
I recommend starting with 1 pair in the beginning, at MOST 3. And I recommend not swapping into different pairs. Keep those 1-3 pairs.
Once babypips is completed, demo trade. Put time in the charts and develop a strategy (mechanically, preferably). Your strategy could be as complex or as simple as you like. Simplicity is genius in my opinion, but you do you. I'm not trying to sound like an ass, but everything you really needed to learn you learned from babypips.
With that said, DO NOT pay for courses from ANYONE. They will often know the same as you, if not less. In my opinion to be really great in this game you don't need a lot of information., and capitalize on every opportunity. You just need to be really good at one style and max that the hell out. For instance, being really good at low volatility breakouts, and having a system based off that. No amount of schooling (high school, college, or courses via Forex gurus) will make you successful. It's one thing to know a strategy, but to implement it in real time with real consequences is daunting. The only way to conquer this is to simply do it. Trade.
Trade with an amount of money you can emotionally and financially afford to lose! I would even recommend starting a live account with $50 and only trading micro lots (0.01) until you become comfortable and your strategy proves successful. This is AFTER demo trading your strategy.
Master yourself before you master the markets. Work out. Feed your brain. Get enough sleep. The money you make or lose isn't worth your health.
Psychology. In my opinion the best psychology you can have while trading is a form of stoicism. You've placed your trade based off your strategy, you managed your trade based off your strategy, and you risked an amount you've told yourself you were comfortable losing with an account you told yourself you were comfortable blowing, so what's the worry? Why the second guessing? Everyone's heard that story, right? Where a man goes to a successful "guru" and says he wants to be successful. The guru says, "Ok. Show up at the beach this time tomorrow." The man shows up at the beach in a suit and tie, ready for success! The guru tells him to get in the water. Once in, the guru holds the mans head under the water, drowning him. At the last second the guru lets him up and says, "once you want success as much you wanted to breathe, you'll be successful. That's what you need to be like. You need to be willing to do what is necessary and put in the work. It's not easy. You're going to lose money, maybe even blow accounts. You may struggle for years without a return, or even lose money over that time. How bad do you want it success, though? And are you willing to drown to attain it?
Best of luck new traders!
Experienced traders, please feel free to add things or tell me I'm a goof in the comments.
submitted by SandfordKing to Forex [link] [comments]

The apex in now in sight. Final preparations for the crash.

I think the market will top in the next five trading days (Final week of May), and in the next 10 trading days volatility will again take centre stage.

The last time I took a pop at a big bold calling of the exact high price and exact day was February 12th, 2020. The market went up a tiny bit more from there. There was a weak uptrend that lasted about a week, and then the market came down. I think we’re now at the same point we were on the 12th of February. In the final days before chaos is unleashed.
At this point I think the high in the market will be made sometime between Friday the 29th of May, 2020 and Tuesday the second of June, 2020. I think the high price on the SPX will be at, or very close to, 3080. I think the drop that follows this will be a bit over 1,920 points. This gives a target price of 1160 (And I’ll take 1225 to front run this).
Over the week ahead I’m going to make a superhuman effort to provide all the things I think are needed to benefit during this. This will include my analysis, generic strategies and my jackpot trades paying over 1:100. Early in the week that follows I’ll talk through positions I am taking expecting the high. From the start of the week after that, I think the market falls.
I think the market will take about a week to get to 2500 area. From there we’ll see a small bullish week back to around 2700. After this the strong market crash will begin. This would imply there being bad news around the 6 - 8th of June and this followed by worse news around the 21st to 23rd of June. Capitulation will start around the 24th - 25th of June. During this there will be some bull days, and we should sell into these bull days.
Once the market starts to fall the time I can allocate to providing free information is going to drop to very close to zero. There’ll be some stuff I copy and paste talking about what I am doing. There may be some end of days (Or weekends) where I can do detailed write ups. I’ll be able to maintain fairly good tracking of swing positions, but not intra-day/week.
When the market starts to move 99.9% of my attention will have to be entirely focused on the management of my own trades and ensuring people who I have as clients are well prepared and fully updated as things develop. Once the market is falling I’ll be accepting no new clients. I won’t be able to be contacted until I think the low has been made.
Please understand this is not rudeness, but when the market is moving - that’s when I do my job. I can talk about things before them and after them, not during them.

Itinerary of content I aim to cover in the week ahead.
(I’ll link these in this post as they’re completed. So bookmark this)
Analysis;
Strategies;
Jackpot trades;
Individual swing trades paying between $70,000 - $150,000 for each $500 - $1,000 risked.

Psychology;
How to keep your mind while everyone around you loses theirs.

Things I’ll setup to track trading plans

Free Stuff:
Discord view only server covering swing trading plans. This will include;

Paid Stuff:
During the fall I’m only going to be able to continue to provide weekly and daily trade plans if people pay for it. The reason for this is, for it to be viable for me, I’m going to have to hire people to do the leg work in managing this. I won’t have time to do it all myself. I’m charging you to cover the costs I’ll incur to give it to you.

I’ll setup a discord server with;

Redacted



To join the paid discord server will cost you only $50, but it is only open to join until the market starts to fall. I’ll accept new people during the next 3 weeks. Once the market starts to fall, I’ll edit this post to remove this section, and will not accept anyone new. If the market does not fall within 8 weeks from today - my plan is not working. I’ll refund all payments/close the server.
There are some people here to call me a scammer. I’d suggest you do not send me the $50 if you’ve not already gotten at least $50 of value out of what I’ve shared. I’m going to keep on doing the same thing. Personally, I think i should be charging over 100* what I am, but I suppose value is very subjective.

I’ll accept payments for this only via Paypal (Much easier if I end up refunding). To join this;
1 - Send $50 to PayPal email: [Redacted. People are more hassle than it's worth to help]
2 - Send payment transaction number via email to the same email address.
Links to join will be sent to you. Please allow for some time, but should usually be within a few hours.


I’m going to do my best to try to get through as many of my messages here as possible over the weekend (Currently seems to be about 50 pending, so no promises). By end of next week I’ll probably not be reading/replying to any messages, and by the week after I’ll probably also not be reading replies to threads/username mentions etc.
I want to make sure everyone fully understands that and is prepared for it. During the week ahead I’ll bombard you with everything I think you need to understand what is happening, and while it is happening I’ll be non-contactable publicly. This will remain the case until I think we’re in at the low - and then I’ll again have time to be chatty.
Relevant links will be added to this post to refer to different things (Plans, strategies and so on). So bookmark this thread and then you can use it as a master thread to find everything (I think) will be important.
I think we have just 10 more trading days until this starts. 10 days where the market is fairly dull and boring, and then months and months of work starts to all come together over a matter of minutes. I’d suggest at this time it would be especially prudent to take actions to protect yourself from any lasting exposure to this. Real world and digital. Put foam on the runway.
submitted by 2020sbear to u/2020sbear [link] [comments]

Weekly Update: $GHOST on ParJar, XIO Labs, SelfKey Loan Marketplace, $GET on Uniswap…– 19 Jun – 25 Jun'20

Weekly Update: $GHOST on ParJar, XIO Labs, SelfKey Loan Marketplace, $GET on Uniswap…– 19 Jun – 25 Jun'20
Hi Parachuters! With this, we come to the last part of our May-June Parachute + partner update series (19 Jun – 25 Jun'20):

Jason hosted a flash 1000 $PAR challenge for sharing details on "the silliest reason you tipped someone in real life". Gamerboy, Charlotte, Afful and Peace Love hosted some uber cool quizzes in TTR this week for $PAR prizes. Gian got folks to post music “featuring bands or song titles that have a color in their name” for Two-for-Tuesday this week. As always, Sebastian was kind enough to compile the playlist with everyone’s posts. The English Premier League is back! And with it LordHades’ Fantasy Premier League (FPL) officially reopened as well. James, who you would know from the Parachute Athetics and Running Club, announced the start of a secret challenge for $PAR prizes. Switch-partnered and John McAfee-backed privacy coin $GHOST was listed on ParJar this week. And the swap beta feature is almost ready. Read all about the latest ParJar updates from Cap’s post. Skittish started a channel to track major on-chain $PAR transactions. European crypto exchange Txbit added $PAR as a contender to their latest vote-for-listing contest after a taking public poll. Hope you got a chance to vote. Borna was the winner of this week’s Parena. Congrats!
That was quite the finale this week
To track the latest $AXPR burn, click here. After a brief disruption, 2gether is back to normal shipping of their cards. XIO launched the XIO Labs this week, a decentralised talent pool to help incubate blockchain projects. Zach expanded on the zero-loss membership model vis-à-vis XIO Portals through a detailed video this week. The GHOSTX atomic swap platform by Ghost went live this week. 50% of all fees will go to $ESH holders. The team hosted an AMA with crypto entrepreneur Alex Masmej. You might remember him from his Human IPO – selling shares of himself in the form of tokens. If you missed it, you can catch up from the transcript. Lite Liger made a video tutorial on how to create your own Dex using SwitchDex. John McAfee appeared for an AMA with Wendy O to answer community questions on Ghost. Following this, Wendy posted a tutorial on how to use the McAfeeDex as she promised during the AMA. Fantom published an article on how upcoming token releases and rewards will affect the circulating supply. Uptrennd founder Jeff Kirdeikis sat down with Michael Gu (Box Mining) this week to talk about crypto, altcoins and Uptrennd. For the latest weekly recap and monthly stats, click here and here respectively. $1UP got listed on B One Payment wallet. The latest district weekly and dev update cover a lot of recent news from the District0xverse. Brady also posted a detailed guide for creating a no-code Web 3 compatible loyalty store. As the Hydro team continues to expand, highlights from their recent team meetings were shared with the community. A comprehensive list of top challenger banks was also published. Sentivate founder Thomas Marchi was interviewed by Mr. Backwards. SelfKey’s Loan Marketplace is now live.
Early sneak peek of the XIO mobile dApp
The Constellation team did a coffee talk where they discussed about the road ahead for $DAG. Yazom launched a Toon Cup competition for its community for a chance to win some cool gadgets. As you might already know, the Pynk crowdfunding campaign on Seedrs is now overfunded. Woohoo! COO Rupert Barkdfield gave a project pitch at the Unicorn Battle this week. CyberFM announced a new Black History Music channel and committed to help end systemic racism. Wibson hosted a Data Privacy seminar for their Spanish community. Harmony announced that the number of open validator slots will be doubled to 640 by July 1. The first phase of slot increase happened this week. The team also compiled an FAQ list for Open Staking. Ankr made a node running cheat sheet as well. Huobi announced support for $ONE mainnet. For the latest #pow thread, click here. Did you know that the Harmony dev ecosystem extends to far away as the Himalayas? Amazing! Kucoin’s Pool-X announced support for $ONE staking. Within days of the announcement, the staking pool got filled up to its max cap. If you’re not yield farming yet, here’s a video guide on how to use $ONE to get in on the fun. The team hosted a fireside chat with Dhawal Shah of Frontier wallet and Ganesh Swami of Covalent to talk about DeFi. BitForex listed Intellishare’s $INE token this week. To celebrate the occasion, Intellishare hosted a Pandora Box event to give away 20k $INE as rewards. Sweet! Click here to read how the network fights bad actors. Plus, the significance of mesh networks was expanded upon in an article. The team also announced time offs for next week. GET Protocol clinched a number deals to ticket upcoming events. Click here and here to find out if your favourite artists’ events are there. $GET is now available on Uniswap. COTI crew sat down for an AMA with Indodax this week. CEO Shahaf Bar-Geffen will be sharing more details on Blockchain Dollars in an AMA with Wolf Crypto next week. Stablecoins, wink wink. The team will also be speaking at the Cardano Virtual Summit next week. Another staking campaign on Binance was launched. Read more about it here. The team also put out a detailed roadmap as they move towards MainNet 2.0.

With that, we have to say Bye for this week. Next on my To-Do list: Get to work on the updates of July and August :D. Till then, Ciao!
submitted by abhijoysarkar to ParachuteToken [link] [comments]

Become a financial investor with £300 and make £50 for doing nothing

Good Day! If you are looking for a quick easy way to earn £50 in commission then you are in the right place.
Wether you're a student, full-time/part time worker or unemployed you can do this easily in 30 minutes or less.
Many people are promoting forex programmes that only benefit themselves and probably offer you a book that explains nothing nothing more than you can learn on babypips.com
I offer an educational group on an app called telegram (You can download it off the App Store, Android store or windows store.) And we can help you become traders not by selling worthless signals but by teaching you how to trade independently, a lifetime service for free.
Now all this sounds too good to be true right? And what about that '£50 commission you told me about?'
Well I work with a brokerage that when I get signed up and you trade with them I earn commission, For you doing so I am willing to give back to my team £50 via PayPal, Skrill or BTC, whatever floats your boat as a way of saying, Since you helped me, i'll help you.
Plus I am offering you another investment opportunity in yourself, The way I think about trading on the financial markets is not a 'Get rich quick' scheme, or a 100% Guaranteed profit making strategy. I Just like many other traders have had bad weeks/months on the markets but the way to overcome it is to manage your risk and to make sure your bad weeks or months are nothing compared to your good ones. If you invest £1000 into a savings account and leave it there on say your 0.01% interest rate for a year you now have £1010. Congratulations you bank has now done for you what you could do in a week easily. You can open a trade on the lowest risk possible and make that if you find the right swing in the market, which with the right guidance and mindset and experiment, is not all too hard to do.
Depositing with a broker is like depositing into a bank account. I can 100% guarantee there will be someone reading this thinking this is a scam, they are just going tot take your money and run. Be assured that I never see your money, when you hand over money to deposit cash into your bank account do you see your cashier take it and put it in their wallet/purse and then it not show up into your account? You are simply depositing money into your own account that only you will have access too and it is there for you to do what you would like with, you can be risky and trade big though I wouldn't recommend this, if you want to though I think you shout find the swing that would work the best for it, find every confirmation possible and enter where there is lowest risk to your account. But for most traders actually wanting to make a steady investment on their capital they can trade low risk, find the swings exactly how I just mentioned and grow your account bit by bit.
As I said previously we offer training in the markets and this is exactly what we are trying to achieve. We don't charge a monthly service fee unlike most in this line of work, instead we actually make our living trading and use the commission from the broker as a service charge, basically like a tip to our weekly profits we use for leisure or to take the Mrs out for dinner :)
If you are interested or have any questions drop a message to either me privately or if you think it is beneficial to everyone reading then add it to the bottom of this thread.
We are more than happy to speak to you over telegram 1-1 and if you need to you can voice call over the app too. However you must be 18+ have some sort of ID and credit/debit card to sign up with the broker.
** If you are unsure when signing up with the broker you can research them/call them whatever you like. We only work with brokers that are registered under the FCA (Financial Conduct Authority)
submitted by Will_AFX to u/Will_AFX [link] [comments]

IQ.Cash Cryptocurrency - Way To Generate is good service

IQ.Cash Cryptocurrency - Way To Generate is good service

https://preview.redd.it/09qg35tzgdx41.jpg?width=512&format=pjpg&auto=webp&s=b45ef29b97cea3d317e54c14ee61ea5968ad4830
The IQ.cash project team has already developed for their investors the IQ Masternode network that they use. Also, the IQ coin is presented on such well-known exchanges as HitBTC, BitHumb Glogal, P2PB2B, CoinsBit, BitForex, CREX24 and Mercatox. Therefore, traders can easily trade it! If an investor has more than 3000 IQ on his balance sheet, then he can receive passive income 57% of the block, miners, in turn, receive 43% of the block. We still have 6%, which are reserved for DAO (decentralized autonomous organizations), that is, they are used to invest, for example, in ICO projects, websites, trading bots, and improving the entire IQ ecosystem . cash and so on. All of these unique features can help make the IQ.cash platform popular around the world. You may come to this article to find out about the massive passive income, but worth noting that you should know what it is about. Think about it, investing money to something vague is very risky. Thus, what is IQ cash? To make it brief, this is another cryptocurrency that has quite clear and potential income. Just like bitcoin, this IQcash has a potential fluctuation which increases and give great passive income through the magnificent distribution splits. It is also easy to say that IQ cash is an investment master nodes Cryptocurrency which is open for everyone. In this matter, whether it is for investors, traders, or even miners. Yes, those who are familiar with the world of cryptocurrency are the target of this project. The main task is to provide instant anonymous online payment along with the investing system. The IQ cash platform ecosystem work as DAO (decentralized Autonomous Organization.

https://preview.redd.it/wgl5icd1hdx41.jpg?width=640&format=pjpg&auto=webp&s=0f0e8a7b032633c2e526f8f01bb1efc2cb659323
One thing that makes this digital money gain quite a lot of participants in the available wallets. Not a real physical wallet, but one to store all your cryptocurrency. In this case, the wallet is available for Windows, Linux, and Mac. You can choose one that fits with the equipment you have. Along with that, you can install the masternode on your home pc or Linux VPS. Your masternode will just do the earning rewards, without all the other extra features. If you want to install, you can use PC running windows Mac or even Linux. However, on VPS you have to use Linux with Ubuntu 16.04 version. Other than that, there are some requirements you have to fulfill. The first one is having a 3000 IQ or more on balance. Even 3001 coin is acceptable. Then, use only one PC for dedicated IP-address and also a 24/7 network connectivity (network loos less than 30 – 60 mins) without any interrupted operating system. Security - it is the most considered aspect of investment, as we know that investing in cyberspace is very risky. Therefore, IQ.Cash presents the security of investor accounts, where all accounts cannot be blocked and, most importantly, account funds can only be accessed by the account holder. Masternodes - how do we know IQ. Cash uses the PoW consensus algorithm that supports the Masternode system. this certainly adds to the intrinsic value of this project, which economically can add a value of approximately 43% and indirectly increases passive income by around 57% for all participants in the masternode. Masternode provides network integrity. Transaction anonymity and transaction speed. Of course, to run a masternode system, everyone can only invest 3000 IQ and then immediately enjoy the results obtained with this IQ.Cash masternode feature. Anonymity of the transaction - this is more about the privacy of the transaction itself. where users can completely trust the system. and you don’t have to worry about data access by irresponsible parties. because the system automatically encrypts data when transferring and receiving assets

https://preview.redd.it/7k0i4s47hdx41.png?width=640&format=png&auto=webp&s=cc9b5ced02917e1549e9b963805785df93b332d2
The IQ.cash platform operates on the basis of the POW consensus with support for a system such as MASTERNODE. And this is very cool, since this system makes the project more interesting and attractive for crypto enthusiasts. Indeed, thanks to the MASTERNODE system, miners receive 43% from mining, and people who own MASTERNODE receive a passive income of 57%. MASTERNODE supports the network, i.e. data privacy, transaction anonymity and speed, and much more. To become the owner of MASTERNODE you need to have more than 3000 IQ on your balance sheet. Anonymity. Transaction anonymity is provided by the PrivateSend algorithm. Users can feel safe and not worry about their assets. Since this system perfectly encrypts data. Therefore, you can safely send and receive any crypto assets. ASIC RESISTANCE. This technology is struggling with such a serious problem as a significant acceleration in the growth of network complexity. IQ network . cash works on the basis of the NeoScrypt algorithm, which is struggling with this problem. High transaction speed. Such an instant transaction speed, because the InstantSend algorithm works. Just think about it, the transaction speed is only about five seconds. Absolute decentralization. Affect both participants and crypto assets of the IQ network . cash no one can. Because everything will be safe, reliable and transparent.
Only requires a transaction speed of only about 5 seconds / transaction. And all transactions are done instantly, so this will provide a very efficient way of working for the users later. more and more projects have started to appear, whose actions are directed to one of the niches of our daily activities. This is excellent, we have been waiting for this for many years, but at the moment, strange as it may seem, projects aimed exclusively at the crypto industry have become a minor order of magnitude. It was simply impossible to take it. And now a project has appeared on the horizon that positions its activities exclusively as a useful product for mining companies, investors and even traders. As it turned out, the team has a work product, whose currency is traded on many major exchanges. That's good luck, I smiled and started to study the IQ.cash project and its capabilities. Go back to the main interface and choose a personal tab (bottom right corner). Then, move to the next phase by choosing the Fee & Payment tab. You will see fee balance, FLS, BTC fee deposit address, and other information. In here, copy the IQ.cash wallet address in the FLS address tab. To move on to the next stages, you should have bought the required number of IQ cash (3000 IQ cash) beforehand. You can buy the IQ cash masternode from the official sites.
Official Resources Website: https://iq.cash/ Discord: https://discord.gg/qekuX6r Github: https://github.com/IQ-Cash/iqcash/releases Youtube: https://www.youtube.com/finexpo ANN thread: https://bitcointalk.org/index.php?topic=4360591 Twitter: https://twitter.com/IQ\_Crypto Telegram: https://t.me/IQ\_cash Wallets: https://iq.cash/ Explorer: https://explorer.iq.cash/
AUTHOR: Lost Stories Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2733279
submitted by TasnuvaTahani to CryptocurrencyICO [link] [comments]

Seeking Perspective - Steps to take for career switch from successful software Sales Engineer to Portfolio Management career track?

Hi, everyone. I've read many posts related to this question recently and decided to start my own thread to see if anyone can give a bit of personalized perspective for my situation. I'm considering a switch into finance with the long-term goal of achieving a Portfolio Manager position (at a quant or quantamental fund), and I would like to know what steps to take or if this is even possible (e.g. MBA/MS Finance/MS Financial Engineering, ==> Analyst position, ???)
Too long - won't read
Personal background
Job history
Where I need to learn
Thanks in advance to anyone who takes the time to answer. After listening to countless episodes of podcast interviews like "Invest Like the Best" and others, and hearing all the traits of successful Portfolio Managers and Investing Firms, I'm starting to get that lingering feeling that this is where I would be most engaged and successful in my career. Investing is the only subject in my life that I can read about and experiment with for 12 hours in a day and still crave more when I wake up again. Whether it's opinion pieces or published studies, I just find it endlessly fascinating.
submitted by ShindigsTX to FinancialCareers [link] [comments]

Discussion, Questions, Solutions, Inputs - AusFinance 2018

Hello everyone,
Hope you have had a good week.
It has been a while (read: ages!) since we had a discussion as a community.
In the past when the members were still below 5,000 this kind of post were always pleasant, includes healthy debates + quality banter, great inputs for the direction of the sub and so on... I hope we can keep this culture alive.
Move forward about 2 years in (a little less than a year ago) we only had 10,000 subscribers and the climate was still calm and warm. Now we have over 25,000 subscribers with 1million+ pageviews in the past month alone (1,088,590 to be exact).
From where I am sitting. The mods are exhausted. The days where we get to sit around and just read the sub's contents casually whilst watching tv and warn rude members is slipping away!. Seems that mods have to put the beers away now and deal with it. There are now:
And so on...
As a result, Members are temporarily and some permanently banned, posts removed without warning, guidance seeked from moderators can be replied without a firm policy and enforcement. It's those nasty stuff.
With the exception of an advice being given to a person and the requirement to have relevance to Australian finance and economy, there has been never been any other iron-clad rule implemented in the sub.
AusFinance has always been supported by its members' quality participation rather than iron-clad policy. And I'd like to keep it that way. Though the recent boom in our pageviews and participants does decreases your influence as a single member to have an impact to the larger community by quality posts and the voting system.
These issues were expected as the sub grows, though I don't think anyone would forecast the boom we have had in the past couple of months. And I think we are at the start of going in the direction where I can no longer visit it with enjoyment. So let's not wait until it's too late!
The below is what I have in mind (not a collective thought of all moderators) on where we might go:
Property is only a single topic out of all possible discussions to be had in the sub. There are micro and macro economy, portfolio management, derivatives, currency exchange, regulatory environment, loans, personal finance, and many more!!!
u/jackimatic initiated the property mega-thread to have some relief on the number of property posts which has exploded recently. This is not sustainable as we single-out a topic to be permanently stickied in this sub.
I've always wanted the sub to have balanced content. Thus, regardless of the fact that Australians are so obsessed with this asset class -- I don't see it happening in this place.
One option is to refer poster to AusProperty and lock the post. This does not mean we ban all posts about property; but to limit property discussion within a broader context, for example: buy vs rent, interest rate impact, portfolio management and economy as a whole. What's out the door?: speculation about property prices, property construction, micro movement in property (i.e. auction results and "look! NSW property price went down by 0.5% last week!) and the likes gets the boot.
There will be no fast and hard rule about it and there will be some human judgement involved. Basically, if you get your posts locked and referred to AusProperty then don't complain.
Some posts about personal finance around here also reflects the person's specific circumstances. Let me reiterate that we cannot provide advice, and when you make such posts -- it is difficult not to do so. What is supported here are the likes of budgeting techniques, academic studies (i.e. we can discuss those of what people study in Financial Planning), or scrutinisation of certain approach as discussed through certain books (most popular being mentioned around here are the barefoot investor. But you know, there are other dozens of quality books with approaches that are proven just the same!).
There is fiaustralia to discuss early retirement (if that is your thing). They're a good sub which specialises in this type, a good addition to AusFinance.
As said above, there are some posts sourced from the media which I sometimes wonder if it is just a personal rant expressed through a news article or just to gain karma.
Thus, all linked articles must be accompanied by OP's insight into the article and how it is relevant and possibly utilised. Failing to do so grants the mod full discretion to remove the post.
Another solution to this, is to only allow text posts within the sub. Though personally, I like the varieties of pictures at the front page :P
The bigger the sub = the higher the requirement for rules and its enforcement = the drier it can get.
I much rather see a small sub with quality posts and discussion rather than a big sub with rants and politics all around. AusFinance will be open to all discussion, though when the need arises a new specialised sub will be promoted.
If this is to be enforced, there are still questions over what the maximum subscriber will be and to keep certain personalities within. In the past, I pulled a number out of my ass and got 25,000. Never I expected that in one year alone we are already over that number at this time.
I've never had the time to get into all the detail of what it can do. I'd still prefer judicious approach by using human judgement, though some classification on posts won't hurt.
If possible, I am thinking to have categories as a requirement for every post. just like askscience
Minimum 1 category, maximum 3 categories (as some subjects may overlap).
If possible, for all categories there will be a wikipage. Then, for all posts to be automatically submitted/posted into the wiki. Categories will be: property, lifestyle, debt/mortgage, news/media, general discussion, AMA, shitpost, career, derivates, tools, books discussions, tax, negative gearing, investing, forex/currency, insurance.
This way, we'll have higher visibilty of what the topics are + Wiki will also be constantly updated.
If there are any expert out there, let me know if the above is possible :P
Let the discussion begin. Questions, solutions and inputs only please. Rants will be removed.
Post will be stickied only for ONE WEEK (okay, maybe two if it has some lengthy quality discussion).
New moderator may be required to help in managing the sub.
submitted by fauziozi to AusFinance [link] [comments]

Help! My mother got scammed via UMarkets.

Posted this on scams as well but maybe folks around here can help me out. Also, I don't know how to cross post on mobile. Sorry.
TLDR: Our mom lost over $3,000 in a trading app called UMarkets. We suspect it might be a scam so we want to find out if we can recover the funds.
Update: I'd like to thank everyone who commented on this thread. You have all been very helpful. I will try later to reply to each of the comments here. But first, I'd like to clarify a few things. A couple of hours before I made this post yesterday, I finally mustered the courage to ask our mom what she was up to. Months earlier, she had ask one of our sisters to print a highly suspect document about some money she owed in some offshore bank in Belize. That rang off alarm bells among my sisters and me, unfortunately we kept tiptoeing about it.
That Saturday morning, my sister told me about the app that our mom has on her tablet, the UMarkets app. So when she came home from a PTA meeting, I asked her about the document. That's when she told me everything and how she lost her money. It was more of a heart-to-heart talk and I really just offered a listening ear. She just talked freely and truthfully about everything that happened. I warned her that her UMarkets investment might be a scam but I told her that I'll look into it further. I assured her that everything will be alright even if there was no chance of recovering the money she put in.
I guess overall she was glad to be able to get this off her chest. Apparently it's been bothering her since the beginning of this year. I told her not to put any money into the app and to stop contacting Marcus. He was still trying to convince her to buy Netflix stocks or trade other commodities like oil. But anyway, after our conversation, I decided to post here on Reddit to ask around and get any leads.
I really feel sorry for our mom. She really wants to make money on her own so much that it lead her to this. I guess deep down she just wants a bit of control over her life. She's a house-wife and our dad doesn't let her do anything that much. She has kept everything about this a secret from our dad.
This Sunday morning, I told her that after a bit of research, I can say with 100% certainty that the whole UMarkets debacle was a scam and there was no chance of getting the money back. She was still a bit in denial. We told her the only was forward was to block her credit cards, talk to someone in the bank, and try to report the incident to the NBI's cyber crime division.
So that's the end of my update.
Sorry if I sound incoherent. I just only found out about this a few minutes ago when we confronted our mother about suspicious transactions she's making. For some background, we live in the Philippines. My mom isn't fluent in English and she did not finish college. She isn't financially literate and to be honest, I'm not really well-versed in investing as well. She's a stay-at-home wife and my sisters and I still live with her and our dad. Anyway, here's a timeline of the events.
Last year September, our mom might have seen an ad on Facebook or saw a spam comment so she got interested in investing her money. She somehow got in touch with a guy named Marcus Moreno, a guy who introduced himself as a stock broker based in the UK. He's Filipino so my mom and him often chat through Skype in Filipino. From my understanding he's the one who walked our mom through the whole process of buying and selling stocks on UMarkets.
Around September 2018 she made an initial investment of USD 3,750. We don't have that kind of money so she used her credit card and pawned off her jewelry to pay for it. Her stock broker set her up to buy and sell currencies (USD, AUD, JPY if I remember correctly). Her initial investment got wiped out thid January 2019 because, according to Marcus, the yen dipped in value. Her account in UMarkets is blocked for now.
This is where it all goes weird for me. I'm not sure if it's because I find it hard to understand the situation or of our mom is having a hard time explaining it. She says Marcus told her that if she wants her money back, she has to make another deposit of USD 1,000. If she doesn't do anything, the USD 3,750 will be lost forever.
She googled UMarkets scam and managed to contact a website called MyChargeBack.com, which seems to me specializes in dealing with recovering money lost in forex scams, etc. In an email from the website, they want to redirect her to Dispute2.com, which I'll be looking into in a while.
To be honest, I really don't know what to do or who to run to. I just wanna help our mom sort out this mess. I appreciate any help or advise that we can get.
submitted by jcw5000 to phinvest [link] [comments]

WaykiChain/WICC- Helpful Information to Get Started

WaykiChain/WICC- Helpful Information to Get Started
Welcome to WICCProject!
To follow WaykiChain's channels, please check the link under the comment with silver badge.

Catalogue

1. What Is WaykiChain?
2. Where is WaykiChain heading?
3. WaykiChain’s Technology
4. How does WaykiChain work?
5. WaykiChain’s Applications &Dapps
6. What is WICC? How to Buy WICC?
7. What is the use of WICC?
8. What are WaykiChain's advantages as a public chain 3.0?
9. FAQ
10. Contents Expected to Read About WaykiChain

1. What Is WaykiChain?
Born in Jan. 2017, Waykichain is a 3rd generation public chain with DPoS consensus mechanism. The transaction speed can keep above 1000 TPS in actual use. WaykiBet1.0, build on WaykiChain and launched in May 13, 2018 is the first ever prediction DApp based on public chain with over 130,000 downloads. The DApp has now been updated to V2.5.
WaykiChain as a team focuses on blockchain technology development and community related operations. We are committed to building a decentralized, community self-governance big platform and big ecosystem, and we are moving toward it with nearly 1 million community members.

2. Where is WaykiChain Heading?
The future of WaykiChain is a big community-driven public chain ecosystem. WaykiChain aims to build a decentralized application platform that can provide users with complete blockchain-powered smart contract system. Anyone can realize their business ideas on WaykiChain and develop their own DApp, and build their own brands.
WaykiChain takes decentralized prediction, assets trading and forex trading as entry points to expand markets in the early stage. After accumulating plenty of application users and developers, WaykiChain will gradually perfect its upper blockchain applications.
Currently, WaykiChain tech team is focusing on underlying public chain development. WaykiChain will provide friendly development environment to developers with sufficient development templates an interfaces. Besides, WaykiChain team plans to take a part of WICC as reward those developers who have made important contributions to the community. WaykiChain is committed to building an underlying technology platform that truly integrates blockchain application and real business. Along with its development, WaykiChain will gradually grow into a big ecosystem with totally decentralized operations, and brings the convenience of blockchain to every user.

3. WaykiChain’s Technology
  • High Performance and Expandability
WaykiChain is a public blockchain with high concurrent processing capability and generates a new block at a fixed interval of 10 seconds. Through rigorous engineering tests, the average transaction throughput is verified as 1000+ TPS for coin transfer transactions and 100+ TPS for smart contract based transactions.

  • Consensus Mechanism
WaykiChain adopts Delegated Proof of Stake (DPoS) as the blockchain consensus mechanism since it is most energy efficient, offering high transaction throughput while maintaining a certain level of community driven decentralization.
There are in total 11 ledger nodes (i.e. block producers), responsible for validating and packing all network submitted transactions into blocks. During block creation, a ledger node collects reward tokens that are carried within each transaction. The 11 ledeger nodes take turns in block creation by the time interval of 10 seconds and the sequence of whom to do block creation at a specific time slot is randomized to avoid prediction by external observers.
The overall network could experience infrequent hard forks due to network or ledger node performance instability. However, the robust consensus algorithm allows a quick recovery from one or several hard forks by resorting to a unified single longest fork and the network will thence stabilize and perform steadily again.

  • Vote Mechanism
The 11 ledger nodes are elected through a never-ending voting process. Individual coin holders can cast their votes to the candidate ledger nodes. Each vote can be cast for up to 11 candidate ledger nodes. By so doing, the amout of WICC coins which is equal to the the amount of votes will be locked into the network, similar to bank saving activities. By the next voting events (i.e. increase or decrease the votes, vote for new candiates) a certain amount of interest coins will be newly generated and released to the person who previously cast votes to the candidates. The interest rate plan goes as follows: the first year’s interest rate is 5%, it will decrease by 1% annually in following years. Once it reaches 1% as the interest rate, it will stablize as 1% for all the subsequent years.
The top 11 candidates who recieved the top most votes cast by community coin holders automatically becomes the ledger nodes and take turns with certain randomness by a random perturbation algorithm to do the block creation by validing and packing the transactions into a new block.
  • Technology Architecture of WaykiChain Ecosystem
WaykiChain aims to develop its underlying public chain technology into a big ecosystem, so that numerous industries can build their own applications and services based on WaykiChain public chain. WaykiChain has set up the following technology architecture, as shown in the image below
https://preview.redd.it/lcj249b8qr621.png?width=1219&format=png&auto=webp&s=0f6506ba2f57d0b32291c0ba741895a4ddaca735
WaykiChain core technology team is committed to providing the develop-friendly interfaces of each layer and improving the technical documentation to help the community better build the ecosystem.
  • Smart Contracts
WaykiChain's smart contracts are written in Lua scripts and processed within Lua Virtual Machine engine. Lua's various libraries are built in for developers to leverage. Due to the openess and compleness of Lua script and its liabrary provided in WaykiChain software, developers can build many forms of appliations that meet the requirements of Turing-complete computing scenarios. Lua scripting is relatively simple and requires no pre-compilation, and is thus also easier to deploy compared to other smart contract implmentation.

4. How Does WaykiChain Work?
WaykiChain uses a DPoS consensus mechanism with eleven accounting nodes. The annual rate of return is 5% for the first year, with a 1% increase with every year that goes by. Each time a block is created, an accounting node is randomly associated. The accounting node gains all of the transaction fees in its accounting block. Users can earn interest by locking WaykiChain coins. The interest is automatically determined each time the votes for the corresponding user account change.
The terms of betting are triggered by the initiator through smart contract transactions. Users can initiate various betting contract transactions, all of which can be searched and identified in the block browsers. When the betting is over, the bet initiation will publish the final results and the gaining will be then shared accordingly. In short, the betting revenue is automatically issued to the user’s wallet after the betting results are displayed.
The smart contract provided by the platform makes it possible for asset initiations to create dividend sharing rules. These rules are only triggered by various conditions. Hence, the final price of the assets in circulation will be determined by the market’s behavior towards the object in the transaction.

5. WaykiChain’s Applications &Dapps
  • Token System
Waykichain Token, WICC is a token only used and circulated in WaykiChain Wallet on our DApps. WICC itself does not have any FIAT characteristics. By consuming WICC as a kind of fuel, users can use applications on WaykiChain; by locking their WICC for a certain period of time, users can share the revenue from WICC Lock Revenue Sharing Plan; and by voting for effective and stable accounting nodes, users can earn related interest. WICC can be obtained by participating in the lock plan, by accounting, voting, and subscription, or by trading with other holders. This means WICC will be listed on lots of exchanges and traded with other cryptocurrencies, thus WICC also has trade value.

  • Decentralized App- WaykiBet
BACKGROUND- The first smart contract based application delivered by WaykiChain’s team is the WaykiChain decentralized betting application. In this application, the smart contract will assign a time duration in which the user can engage in the betting process. All the conditions related to betting will be given. When a bet is finished, the contract will release the results. The smart contract will then reward the winners.
This DApp was launched in May 2018, attracting over 130,000 users to download and bet and has been upgraded to V2.1 ever since. The latest product WaykiBet DApp V2.5 is planned to launch in November along with a new WaykiChain wallet.
INTRODUCTION- WaykiBet is a DApp developed on WaykiChain that allows strangers to build betting transactions without a trust base. WaykiBet has lowered the barriers for users by using smart contracts to deliver payout automatically, and recording transactions on blockchain with zero handling fee, providing users the best and fairest betting experience.
Everyone Can Build a Bet
More flexible: With smart contract, WaykiBet works like a betting contract exchange and everyone can build their own bets.
Fixed Odds
More interesting: Effectively avoid the fluctuations brought by floating odds in some less popular games.
Betting with Odds Ranking
More intense: Betting builders compete via odds ranking, and users can freely choose odds.
Smart Contract to Deliver Payout
More fairness: Winning of a bet will automatically trigger the blockchain smart contract to deliver the payout, without manual participation in the whole process.
Betting Records on Blockchain
More transparent: All betting transactions are recorded on blockchain and can be traced by everyone, which is totally open and transparent.

  • Decentralized App- WaykiTimes
The new WaykiChain wallet, named as WaykiTimes, will retain the original wallet functions, such as Lock Revenue Sharing and node voting. In addition, WaykiTimes is mainly designed for WaykiChain and cryptocurrency investors, developers and business partners. In addition to its wallet function, WaykiTimes has also added news and community modules. WaykiTimes is the one and only official platform for you to get thorough information of WaykiChain project. In WaykiTimes, you can easily get to know the latest WaykiChain updates, freely post and comment in community, and discuss hot topics with other crypto enthusiasts. At the same time, WaykiTimes also has WICC transfer and lock functions.

  • WaykiChain Block Explorer
WaykiChain official block explorer is a data display system for WaykiChian applications, which displays the WICC transfer and transaction records, account balances, prediction games transactions, and payout results according to application data on the blockchain. All data is open and transparent and inherently irreversible.

6. What is WICC? How to Buy WICC?
WICC is the token launched by WaykiChain. In order to buy WaykiChain (WICC), we recommend you to buy some BTC or ETH (the highest volume trading pairs) from an exchange that accepts them. Then, you will have to find a marketplace that sells WICC in exchange for the aforementioned cryptocurrencies. We recommend you to buy WICC at AEX or Huobi Exchange (AEX and Huobi has already supported WICC mainnet migration). For more information on this matter, you can visit CoinMarketCap.
When it comes to storing your WICC coins, it’s recommended that you use the wallet function on WaykiTimes V2.0 or WaykiBetV2.5. By consuming the tokens, you can also use various applications on WaykiChain.

7. What is the use of WICC?
WICC is a token used and circulated in WaykiChain Wallet on our DApps. WICC itself does not have any FIAT characteristics. By consuming WICC as a kind of fuel, users can use applications on WaykiChain; by locking their WICC for a certain period of time, users can share the revenue from WICC lock plan; and by voting for effective and stable accounting nodes, users can earn related interest. WICC can be obtained by participating in the lock plan, by accounting, voting, and subscription, or by trading with other holders. WICC has been listed on over 100 exchanges and trading with other cryptocurrencies for almost 1 year, thus WICC also has trade value.

8. What are WaykiChain's advantages as a public chain 3.0?
The first one would be the low entry barrier to our eco-system. For developers or Dapp operators they do not need to develop from the chain directly, instead, they only need to develop from the template we published. Even if you are not able to find a team of developers who understand blockchain, you can still deploy the Dapp and run it to make profit. And Waykichain will benefit from all transactions happened since you made this chain active.
The second advantage is the product it-self. WaykiBet2.5 is user-friendly to those who do not understand crypto-currency or blockchain technology.
In WaykiBet, we initiate a stablecoin using the mechanism like BitShare. The Dapp runners or some acceptance dealer need to pledge some WICC to the smart contract and get stablecoin. By doing this, users can directly buy the stable coin in the Dapp with fiat money, instead of going to the crypto exchange.
Moreover, WaykiChain designed a mix of centralized and de-centralized technical structure. By doing this, users don’t need to pay for the gas but the smart contract owner. Moreover, the performance of the entire system can be improved without losing the public creditability. The whole process, being centralized and recorded, can be verified and tracked. Theoretically, this mixed-structure can afford more parrelled transactions at the same time than all other decentralized system.

9. FAQ
  • What is WaykiChain decentralized betting application?
WaykiChain decentralized betting application is the first smart contract application launched by WaykiChain team. Each betting is triggered by the application developer via a smart contract. During the period specified in the contract, the users can initiate betting transaction, and all betting records can be traced on the blockchain browser and can never be tampered with. The smart contract will automatically reward the winners based on the final result. WaykiChain will use smart contract to automatically execute the game rule on its public chain. Instead of relying on trust between people, WaykiChain betting application adopts trust among machines to save credit costs, and guarantees full compliance with the rules setting. Besides WaykiChain Official, the developers of the decentralized applications can be any other third-parties. WaykiChain welcomes all developers to join.

  • What is WaykiChain Address?
WaykiChain address is a 34-bit string consisting of English letters and numbers that may look like digital gibberish. My WaykiChain address WXv6xP8yVW4PkZ3DPvxqfBtfz7Bof1RJHm, as an example, looks like this. All transfer records for each WaykiChain address can be found through the blockchain explorer. The address is a personal WaykiChain account like your bank account number. Anyone can transfer WICC to you via your WaykiChain address. How do I get my own WaykiChain address then? You can download a WaykiChain Wallet on WaykiChain official website, or register one on trading platforms. Each user's WaykiChain address is unique. It should be noted that each WaykiChain wallet can only create one address, therefore the wallet mnemonics must be kept carefully.

  • What is WaykiChain mainnet migration?
WaykiChain (WICC) mainnet migration is the process of replacing the previous Ethereum-based token ERC20 TOKEN with WaykiChain mainnet token. WaykiChain public chain, through several months of testing and rigorous evaluation from the exchange platforms after its release, has been fully proven to operate efficiently and stably. Mainnet migration marks that WaykiChain public chain is actually putting into use. After the mainnet migration, various applications and developments based on WaykiChain can be launched, and the service period of WaykiChain public chain truly starts. The dividend mechanism, voting mechanism, gas consumption, and accounting fees on WaykiChain ecosystem are all completed by the mainnet token. The previous ERC20 tokens do not have these functions.
By the end of June 26th, AEX Exchange, Huobi, CEO Exchange, Bying Wallet etc. and 23 exchanges in total have supported WICC mainnet migration. There will be more exchanges and wallets supporting the migration in the future. Please follow WaykiChain's channels for more details.

  • Are there any requirements or restrictions for developing projects on WaykiChain?
WaykiChain's code is completely open. WaykiChain welcomes third parties worldwide to develop, carry and operate various application products on WaykiChain, and finally form a diversiform public chain community ecology. WaykiChain is happy to provide public chain technology support for any individuals or third parties. Applications developed and operated by third parties, based on WaykiChain public chain, need to comply with local laws and policies. Only after obtaining related licenses, permits or qualifications required by local laws and policies, developers and operators can launch and operate their applications on WaykiChain. Because of blockchain public chain's globality, anonymity, open code, and the limitation of our ability, WaykiChain Official cannot judge the identity of third parties, nor have the ability and right to verify, supervise, control or interfere the third parties. Therefore, third parties should bear responsibility of their own actions.

10. Contents Expected to Read About WaykiChain
It would be great to create a post for everyone by posting what they want to have for future releases of the Waykichain DApp or anything related to using Waykichain. Therefore, please comment under this thread about your interested contents or create a post directly to express your perspective on WaykiChain.

submitted by zcatmew to WICCProject [link] [comments]

What is price action trading methodology? Read this to find out.

MOST RECENT POST 1/16/19
I’d like to make this into a thread for others to learn about what price action trading is. I mainly trade the /es. I sometimes trade forex. I will add as much as possible to this thread in the most organized way possible.

1/15/2019 ENTRY
. WHAT IS A MARKET?
A market is a place where many individuals come together in order to find the best price possible for anything. Anything can be exchanged on a market. You can go to a farmers market nearby and you would ultimately be engaged in a market that is almost the same as buying and selling on the stock market. Everyone is trying to sell something and buy something for the best price possible. In terms of trading, you can buy and sell a variety of stuff. For example, currencies, stocks, futures contracts. You can even buy corn, soy beans, livestock, and oil on the futures market. You’d be surprised with everything that you are able to trade on the market. You are simply trying to buy or sell any given thing at the best price possible.
Why do markets exist?
Once again, markets are trying to find the best price possible. Markets exist in order to avoid being ripped off. Let’s look at some examples.
Example one is that you are trying to buy a house. You will go door-to-door asking people if they will sell you their house. Eventually you will find a house. That person will know that no one else is trying to sell a house. Since they do not feel any competition in selling, they will sell you the house at a very expensive price.
Now let’s look at situation two. You are attempting to sell your house. Imagine that a realtor did not exist. You would have to go door-to-door asking people if they wanted to buy your house. People would know that there is not a demand or a need to buy your house, so they would offer you the cheapest price possible.
In both of these situations, there is a middle man that could help avoid selling at the incorrect price or buying at the incorrect price. In the housing market, this is called a realtor. In trading , this is called a broker.
The job of the realtor is to find people that want to buy a house and people that want to sell a house. This will help with finding the correct house market value for the area where you live.
The job of a broker is to find people that want to buy a stock or sell a stock. The more people that are trying to buy or sell the stock, the closer that the stock will be to fair market value.
Trading markets and brokers solely exist for the reason of finding Many people that want to buy and sell on the market. This will in the end help find the best price possible for whatever you are trying to trade.
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------
1/16/19 ENTRY
Chart types and bar types

Chart types
There are a variety of different ways to graph the way that price moves around while the market is open. Remember the only reason why we are at the market is in order to get the best price possible. A graph has two axis. The X axis, and the Y axis.
Remember this from math class in high school? It's back to haunt you again lol.
The X axis (the horizontal bottom part of the graph can show us time, volume, range, or ticks. You are probably most familiar with time. This is where a bar is formed every X given time interval. For example, if you are looking at a 1 hour chart, the X axis will print a bar every 1 hour. There are also more chats like the tick chart. The tick chart will print a bar every x given ticks. For example, a 1000 tick chart will print a new bar on the chart every 1000 ticks. What is a tick? It is simply a a movement of price. Look at a bar chart on a one minute time frame. During the one minute when a bar is forming, it is moving up and down. Each up and down movement is a tick. a 1000 volume chart will form a new bar when 1000 shares are bought or sold.
The Y-axis (vertical line on the side of the graph), is basically price. Price tends to move in .25 cent intervals for future indices, pipettes in Forex, and .01 cents in stocks. Time charts, volume charts, tick charts, range charts. There are all showing the same y- axis, but the interval on the x-axis changes. None is better than the other. It is all personal preference and risk management. I'll get more into this later. For now, i'd stick to a 1,3, or 5 minute chart if I were to be day trading.

Bar types

There are many different types of bars. A bar can range from a bar, candle, line, to point and figure. I mainly use candles on a 5 minute graph. The benefit of bar and candle is that they show the open high low and close of the time period on the x-axis. The line graph only shows the closing price. There are tons of websites that teach how to read the basics of these bars for free. You should learn how to read their open, high, low, and close. LEARN THIS BEFORE YOU KEEP READING.

Many websites show Japanese candle sticks as having many types of names based on the shape that they make in relation to the bars next to them. This can work for some people, but I personally do not use them. I do not see how naming a pattern that a bar makes will help me get a win in the market.

A bar can be used to its most maximum and basic ability by indicating if its in a trend or range bar. A trend is basically when a market is going up or down with higher highs and lower lows ( more on this later). A range is basically when a market is not going up or not going down. It is just going side ways. (more on this later).

Here are some examples.

Trending bar
This bar is from a 5 minute chart. You can see it opened on its on its high, it then went down and closed on its low. The bar did not have any wicks or tails on it. This is indicating that on a lower time frame (e.g. 1 minute) there is a strong trend down.

Consolidation bar

This bar is from a 5 minute chart. Here you can see that the bar had a small body, and very large wicks. This is a Consolidation bar. On a lower time frame the market simply went sideways. It went up and down for 5 minutes. It then closed close to where it opened.

For me this is all I need to know about bars. I don't memorize bar names or any thing fancy like that. All I care about is if the market is trending or if the market is consolidating.


To wrap up charts, there are a few different types of chart types and bar types. I also introduced you to a basic understanding of consolidating markets, and trending markets. Also how you can see if it is consolidating or trending by just looking at a bar. I like to use candle sticks, and 5 minute charts.


More to come soon! Any feedback?
I DO NOT SELL A COURSE OR HAVE A WEBSITE ONLINE THAT IS ABOUT TRADING. IM AN INDEPENDENT TRADER. THIS POST WILL BE PURELY ALTRUISTIC.
submitted by jcthetrader to Daytrading [link] [comments]

LIVE TRADING MEGA THREAD

Hi everyone! Thanks for joining. This sub is for active traders of crypto and stocks, those looking to make a fat YUGE profit. While all are welcome, we are more geared for traders with a serious mindset. Post your ideas for today here. This is a LIVE TRADING MEGATHREAD, so please set your comment settings to live/newest to show the latest comments up top.
Follow us on StockTwits and chat live on our Discord: trader chat.
Wiki: resources
FINVIZ TODAY'S SUMMARY
FINVIZ HEATMAP - FINVIZ FUTURES - FOREX - NEWS FEED
Fear & Greed Index
Sector Performance
Economic Calendar: Results & More
Ex-Dividend: Calendar
Earnings Results and Reports: Morningstar Earnings Calendar & Results
Earnings Whispers Calendar & Results
PRE-MARKET MOVERS:
FINVIZ TOP GAINERS - FINVIZ TOP LOSERS
ROCKET BOT
Options:
Barchart Options Market Overview
Unusual Activity - Most Active - Highest Implied Volatility
CBOE Most Active & Gainers/Losers
Crypto Watch List:
COIN MARKET CAP - COINDESK NEWS - RISING/FALLING - COIN 360 HEATMAP
Disclaimer: The opinions in this thread and forum are solely the opinions of the individual account holders and contributors. The info should not be regarded as investment advice or as a recommendation of any particular security. All investments entail risks. As with most things in life, caveat emptor.
submitted by theprofitgod to The_Profit [link] [comments]

Algo or manual trading?

I'd like to ask a question I have seen touched on in many threads, but not fully addressed.
Everywhere (e.g. babypips, Naked Forex) and here in this sub, I read a lot about the psychology. How you have to have the discipline to stick with your strategy, how hard that is to do, and how much stress it can create. I get it.
And I have read (here, multiple times) that any trading strategy that can be documented can be coded. As a programmer, I am finding that to be true, at least with the strategies I am looking at.
A trading program doesn't experience stress, and it has no problem with discipline. It can monitor and trade multiple pairs, and it can do it around the clock.
So... isn't that the way to go? I mean, why doesn't everybody code their trading strategy (or work with a programmer to code it) and just let it do all the work?
Isn't everyone's dream to lay on the beach (or I don't know, build houses for homeless people) while their bot makes them money?
I imagine there are subtleties of market conditions an experienced trader can see, and perhaps cannot describe sufficiently to code. If that's the case, I guess the question becomes, are those make-or-break conditions?
submitted by leecallen to Forex [link] [comments]

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