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 :)
I have a habit of backtesting every strategy I find as long as it makes sense. I find it fun, and even if the strategy ends up being underperforming, it gives me a good excuse to gain valuable chart experience that would normally take years to gather. After I backtest something, I compare it to my current methodology, and usually conclude that mine is better either because it has a better performance or the new method requires too much time to manage (Spoiler: until now, I like this better) During the last two days, I have worked on backtesting ParallaxFx strategy, as it seemed promising and it seemed to fit my personality (a lazy fuck who will happily halve his yearly return if it means he can spend 10% less time in front of the screens). My backtesting is preliminary, and I didn't delve very deep in the data gathering. I usually track all sort of stuff, but for this first pass, I sticked to the main indicators of performance over a restricted sample size of markets. Before I share my results with you, I always feel the need to make a preface that I know most people will ignore.
I am words on your screen. You cannot trust me. I could have edited this or literally just typed random numbers on a spreadsheet. Do your own research if you want to trust my conclusion.
Even if you trust me, you need to do backtesting for yourself. The goal of backtesting isn't simply to figure out whether a strategy has an edge: it's a way to get used to how the market flows (valuable experience you will bring on to any other strategy) and how the strategy behaves. You need to see it with your own eyes to allow your subconscious mind to be at ease when it comes time to trade it live: the only way to truly trust your strategy during a period of drawdown, is to have seen it work over hundreds of trades in the past.
Strategy I am not going to go into the strategy in this thread. If you haven't read the series of threads by the guy who shared it, go here. As suggested by my mentioned personality type, I went with the passive management options of ParallaxFx's strategy. After a valid setup forms, I place two orders of half my risk. I add or remove 1 pip from each level to account for spread.
The first at the 23.6 retracement.
The second at the 38.2 retracement.
Both orders have a stop loss at the 78.6 retracement.
Both orders have the same target at the -100.0 extension.
If price moves to the -38.2 extension, I delete any unfilled orders.
I do not scale out, I do not move to breakeven, I place my orders and walk away.
Sample I tested this strategy over the seven major currency pairs: AUDUSD, USDCAD, NZDUSD, GBPUSD, USDJPY, EURUSD, USDCHF. The time period started on January 1th 2018 and ended on July 1th 2020, so a 2.5 years backtest. I tested over the D1 timeframe, and I plan on testing other timeframes. My "protocol" for backtesting is that, if I like what I see during this phase, I will move to the second phase where I'll backtest over 5 years and 28 currency pairs. Units of measure I used R multiples to track my performance. If you don't know what they are, I'm too sleepy to explain right now. This article explains what they are. The gist is that the results you'll see do not take into consideration compounding and they normalize volatility (something pips don't do, and why pips are in my opinion a terrible unit of measure for performance) as well as percentage risk (you can attach variable risk profiles on your R values to optimize position sizing in order to maximize returns and minimize drawdowns, but I won't get into that). Results I am not going to link the spreadsheet directly, because it is in my GDrive folder and that would allow you to see my personal information. I will attach screenshots of both the results and the list of trades. In the latter, I have included the day of entry for each trade, so if you're up to the task, you can cross-reference all the trades I have placed to make sure I am not making things up. Overall results: R Curve and Segmented performance. List of trades: 1, 2, 3, 4, 5, 6, 7. Something to note: I treated every half position as an individual trade for the sake of simplicity. It should not mess with the results, but it simply means you will see huge streaks of wins and losses. This does not matter because I'm half risk in each of them, so a winstreak of 6 trades is just a winstreak of 3 trades. For reference:
Profit Factor: 2.34
Return: 100.47 R
Strike rate: 48.28%
Average win: 2.51 R
Average loss: -1.00 R
Thoughts Nice. I'll keep testing. As of now it is vastly better than my current strategy.
Summarizing some free trading idea resources I've been using
I've been following many free resources on youtube and twitter to generate trading ideas. Some of them are suspicious; some are more like boasting their wining trades but never post any losing trades. I see many people ask about trading ideas/resources, so I want to briefly share some resources I find useful. Twitter resources:
Instrument: Mostly SPX/SPY/ES
Highlights: TicTocTick is amazingly good at levels, spotting sellers and buyers levels. Everyday he posts his plan for the next day of the following format: If open above X, long/short bias, target Y. If open below X, short/long bias, target Z. Intraday he sometimes send "warnings" of potential big sellers / buyers at certain level. His price target and long/short bias is often right in my experience. His levels are useful for day trades IMHO.
Notes: (1) even with his plan, one needs an actionable plan. (2) He sometimes delete his tweets. His day-by-day and intraday tweets are more actionable than his longer term view. (3) he sometimes tweets political and controversial non-stock related things.
Trade transparency: 0/5 (doesn't post any trades)
Live update in-time: 5/5 (updates very frequently)
Actionable trading plan: 1/5 (good at levels and price targets. need your own plan)
Live interaction: 0/5 (no interaction)
Educational: 2/5 (can learn the technique from other resources. TicTock doesn't teach you directly)
Instrument: Mainly SPY/SPX/ES
Technique: candlestick patterns, Fib levels, support and resistance levels etc
Style: only day trading
Highlights: he diligently post daily plan and many educational resources, sometimes intraday updates. Had many good trades.
Notes: I haven't followed him long but so far so good. He also recently has educational youtube videos.
Trade transparency: X/5 (hard to measure)
Live update in-time: 2.5/5 (updates frequently)
Actionable trading plan: 3.5/5
Live interaction: X/5
Educational: 5/5 (youtube videos)
Technique: candlestick patterns, support and resistance levels, trendlines, channels etc
Instrument: SPX/SPY, Forex, Cryptocurrency,, Gold and Silver.
Style: holding for a few hours for SPX/SPY, swing trade for all
Timeframe: 8H for analysis. Lower time frame for entry.
Trading frequency: 1-2 trades per week.
Highlights: For SPX, he rode the big drop down in March; rode the rally up, and rode some pullbacks down in April. Got chopped in May. Now he's positinoning long. He also did well in Gold and Silverthis month. He only uses candle sticks, support and resistance lines, trendlines, and sometimes true trend indicator. He doesn't use volume though.
Youtube style: 2 videos every trading day: (1) live at 9am ET for 1-2 hours and talk about his plan and market analysis. Sometimes he trades during the live session (enter / exit). (2) after market closes he summarizes the day, and talks about plans for the next day. (3) Every weekend he gives out his technical analysis for the next week.
What I like: His levels on the chart are very good. He is also very transparent about his trades no matter whether it's winning or losing. He also explains the general economic environment.
Trade transparency: 4/5 (not knowing trading size; but knowing entry/exit)
Real-time update: 2.5/5 (two times a day)
Actionable trading plan: 5/5
Live interaction: 3.5/5 (some interaction on youtube live; Jordan responses to youtube comments)
Timeframe: all time frames. Mostly 5min, 1H, 1D, 1W, 1M.
Trading frequency: very frequent. multiple trades per day.
Highlights: Justin is very good at seeing through market maker manipulation and highly manipulated stocks. He often explained his plan and his outlook (especially in OPEX days) in his YouTube channel. The stocks on their weekly watchlist tend to do very well. He does live Q&A on youtube as well everyday where one can ask him to look at a chart.
Youtube style: Three videos by his team every trading day: (1) live at 9:30am ET; does 1-2 live scalping trades. Explains what he thinks of the market. (might discontinue) (2) at noon: summarizes what happened and what he sees is happening later in the day. Some of his trading plans. (3) 4:15pm ET: summarizes today and looking forward to the rest of the week. Videos (1) and (2) include live Q&A. I've asked many questions on youtube. Every weekend has two videos talking about plans for the next week.
What I like: The Q&A and Justin's outlook of the market, his team's stock pick.
The scalping trades in the morning is not very suitable for small accounts since they will trade for example 100 shares of BA (~160) to scalp a few dollars per share.
Even though the stocks on their weekly watchlist does well very, one still need to come up with an actionable plan. Very often say they recommend stock A on Sunday, and on Monday it already gaps up big. They sometimes do YOLO options -- big risk big rewards-- options can go to 0.
Besides the free content, everyone can get a free one-week trial for their paid membership, or a 2-week free trial by winning a lottery game on their youtube ( what I did) or knowing someone in their group and get a referral. What I like about the group: (i) very frequently updates each day on SPY and stocks on the watchlist. (ii) all their positions, Profit / Loss are very transparent. I learned a lot about how to manage trades by observing their live trades. (iii) There are many very experienced traders in the group posting their trading ideas, plans, entry/exit, and there are many live discussions. (iv) There's a "helpdesk" in the group where members' questions will be answered in minutes. I often ask about my trading plan, entries/ targets.
Trade transparency: 0/5 (free content: not knowing entry/exit nor position size);5+/5 (membership\*)*
Live update in-time: 3.5/5 (free content: three times a day);5+/5 (membership\*)*
Highlights: I follow their free Shadow trader swing newsletter, where every few days they post some trading ideas and analysis with actionable plan. Their twitter account will also real-time update their entry/exit and trade management.
What I like: I enjoyed learning what they look at to find a good set-up and how to manage a trade. They also have a spreadsheet tracking all their positions and profit/loss. All the winning/losing trades are transparent.
Notes: Because of the current market volatility, during certain weeks the swing trading performance is quite shaky. Profits (per 100K account with no more than 30K invested each time): 2020YTD: +9K, 2019: +6K; 2018: +30K; 2017: +3K; 2016: +2.5K; 2015: -1.8K.
Trade transparency: 5/5
Live update in-time: 5/5 (updates frequently)
Actionable trading plan: 5/5
Live interaction: 0/5 (newsletter and twitter alerts only)
Educational: 4.5/5 (the newsletter explains set-ups, what sectors they are looking at)
I've spent much time looking for free contents, and I like the ones above. Also looking forward to hearing about other good/bad resources. I might also update this post if there are enough interests. NFA
Part IV - Entry Options Hey everyone, you can find Part III of this series here: https://www.reddit.com/Forex/comments/h97sv7/part_iii_my_10_minutesday_trading_strategy/?utm_source=share&utm_medium=ios_app&utm_name=iossmf Welcome to Part IV where I will be discussing various entry options. I’ve said this before, but it is worth repeating here as well: identifying a technical setup is one thing. Making money off of that setup is a whole other thing. This is precisely why most signal services fail. While the quality of the signal provider is one thing to consider, the other thing to take into account is that it is very difficult to blindly trade like somebody else - even if they give you their exact entry and exit points. This is why I really want to focus on figuring out how to make MY strategy work for YOU. I will share with you a few different options for entries based on the strategy’s prototypical setup. But it is 100% on you to figure out what suits your trading style, personality, and lifestyle the best. Part V will cover exit options. Part VI will cover risk allocation & management Let’s get on with it. Basic Notes On Entries: We are assuming that all entries are referring to a setup that forms at 5pm EST. I am using 5pm EST because that is when the most trading opportunities have the potential of occurring based on this strategy. It is also when you will see the spreads widen out as the NY Session comes to a close. Therefore, you will not want to take a market order right at 5pm EST. Usually the spreads start narrowing again by 6pm EST.
Limit order (we will use fibonacci retracements to figure out where to place our limit entry orders)
Stop order (we can set a stop order beyond the setup candle’s high/low. I personally do not recommend this particular method, but I am including it here because one trader that uses this strategy has had success with it and prefers it)
The big difference between the stop order and the other entry types is pretty simple. If you are using a stop order to get into the trade, you will not have as good a risk to reward ratio as a trader that used a limit order to get into the trade. The advantage to using a stop order is that there will be some trades where you do not enter the trade because price never went beyond the high/low point of the setup candle. This means you avoid taking a loss on those trades whereas a trader who used a limit or market order to get into the trade would take a loss. The other advantage is that there may be trade setups where the limit orders don’t get filled but the stop order will. I have NOT statistically tested stop orders vs the other order types. If you want to know what works best for you, it is on you to do the testing. Okay let’s take a deeper look now into the different ways we can enter:
Limit order: We will draw our fibonacci retracement levels over the setup candle (I have updated the Fibonacci levels I use in Part III. Replaced the old screenshot with the new one with up-to-date levels). We will then look to place our limit orders just below (IF a short trade setup) / above (IF a long trade setup) the 23.6% and 38.2% Retracement levels. When I say just below or above, I am referring to the spread amount at minimum. However more above/below you want to go is up to you and your testing. Sometimes your limit orders get filled rather quickly. Sometimes they take longer (hours longer). I cancel unfilled Retracement orders if price has run to a fiboancci extension level without filling me on the trade. The obvious benefit to limit orders is that you can set your orders and then simply walk away from the screens. IF the setup candle closes past its 23.6% Retracement level then you will only take ONE limit order off the 38.2%.
Market order: Since we will not be taking a market order trade right at 5pm EST, this leaves us with options. Because a market order does not guarantee us a fill price, we do have some flexibility vs taking strict limit orders. The risk you run with using limit orders is that if your price is not met, you do not get filled. So for example, let’s say it is 6pm EST and the spreads begin to narrow once more and price just so happens to trade right around the 23.6% Fibonacci Retracement area. This is a great opportunity to simply take a market order and get into the trade. Let’s say, however, that price never retraced back into the setup candle and it looks like the trade may simply run to its profit target. What do you do? Well, you can still take a market order to get into the trade… OR you can wait to see if price will retrace back into the candle later on… OR you can write the trade off because price has already run to a fibonacci extension level. The bottom line is that if you have flexibility and you have options. **NOTE: On setups that occur outside the 5pm hour, you can obviously take market orders as soon as the setup bar closes without worrying about unusual spreads)**
Stop order: Stop orders are similar to limit orders in that you can set the orders and then walk away from the screens. If you are using stop orders you will not split your order into several parts. You will simply take one order. You will set the stop order just beyond the high/low of the setup candle.
My preferred method of entry: I like to combine the market and limit entry options myself. Again - assuming a 5pm EST setup here is what I do:
Set limit orders at 38.2 and 61.8% Retracement levels and walk away. If I get a notification that my 23.6% order got triggered, I don’t have to come back to my screens. If I don’t get a notification that my 23.6% order got triggered by 6pm EST, I’ll come back to the trade setup and execute a market order and then delete the 23.6% order. I leave the 38.2% limit order as is. Hopefully it triggers, but if it doesn’t then at least I have half my position on. IF it is a situation where the setup candle closes past its 23.6% Retracement then I will only take 1 order, whether it is the market or the limit.
ATTENTION, week old reddit account who’s about to post a screenshot of your first dozen winning trades!
Hey there, thanks for stopping by before you almost posted that inexperienced humble brag. You just saved yourself a lot of suffering. So you’ve finished for first week/month of trading and you’ve seen pretty much nothing but green! Congratulations. When you’re completely new to something and you see a small bit of success, you have no perspective of fear or self doubt. When you have no inhibition and loads of confidence, it really does allow you to self actualize results for a solid stretch. That stretch eventually ends. You’ll learn the fear after the market bites a larger chunk out of you than expected and start you’ll closing winning trades early while letting losing trades run. Before that happens you’re inexperienced, but have confidence. Afterwards, you have no confidence and no experience. That’s a much harder scenario to perform in. I highly encourage you to briefly read into the Dunning Kruger effect, chances are you’re an unwitting victim at the peak of the aptly named “mount stupid.” You believe you can outperform billions of dollars of institutional order flow by using nothing but some lines and an indicator on its default setting, which, I was not immune to believing when I first started trading as well. It feels damn good to briefly outperform all those “so called experts.” So why am I making this post? Since I started frequently browsing this subreddit while babysitting my trades, I have seen literally dozens of the aforementioned posts. A screenshot of maybe a dozen trades from a completely green trader with a week old reddit account, typically followed by a meagerly explained chart and a very “strong” prediction. “Ah, well I’ve won those previous trades, if I had used five times as much leverage on them I would have made SO much money! I’ll just increase my leverage on the next trade since I’ve got such a strong winning streak!” I cannot recall of a single instance where an author of these kinds of posts lasted more than a week or two. The account is deleted, and someone invariably posts “hey, what happened to insert username here?” It’s probable they liquidated their position. If you still intend to make this kind of post, I wish I could purchase a contract that’d pay me out if you liquidate your account within the month. Hell, I’d prefer to just buy those contracts over actually trading. The probabilities are way better. So what’s the alternative?
Immediately reduce your account size to 1/10th of its current size and don’t increase it until you’ve completed over 200 trades. You need a large sample size to actually gauge profitability. Backtesting isn’t good enough. The human element (you) can be the flaw in a winning strategy.
Read books. Bollinger on Bollinger bands, Macro to micro and Volatility Illuminated are all must reads.
Never risk more than 1% of your account on any given trade. If you’re on 2x leverage and are using 100% of your account on the trade, you can use a 0.5% stop loss. If you’re on 10x leverage and utilizing half of your account, you can use a 0.2% stop loss. And so on. This ensures your account never goes to zero.
Learn the math and reasoning behind your indicator. Why does it work? Not how to use it, by WHY does it work. “It’s a proven standard, everyone else uses it, it’s the golden rule, or it’s worked in the past so it will work again” are all appeal to authority fallacies. A compass doesn’t work because of the aforementioned reasons right? Not knowing why it works means you won’t be able to recognize the conditions where the indicator will fail.
For the love of god, when you hit that losing streak don’t increase your position size. “My account is in the red, all I need to do is make it all back in one or two trades then I can go back to my strategy!” Nope. Don’t do it. That’s how you get a margin call. If an open position feels like it’s put a hole in your chest, close it. You’ll quickly learn it’s not sustainable for your account OR your emotional health. You are valuable and capable of great things. Capable is the key word, you are unrealized potential. The status quo in forex trading is slowly bleeding funds over months and years from the deceptive comfort of the dogma of your strategy and undeserved confidence. Rise above the lowest common denominator. Thanks for reading, I had fun typing this. I’ve been trading for just under four and a half years now and have been going full time for a year and a half. I’d be happy to answer any questions or provide resources. Edit: Since this has been well received, if you see someone make the “peak of mount stupid screenshot” post, link this rant in the comments!
You have a chart in front of you, a buy and sell button respectively, this basically gives you 50% of probability that if you open a buy or sell at any time your action will end up making money after sometime. "Sometime" adds new variables to the game and makes it more complicated: is knowing the direction for sometime, the market needs to move to increase profit or increase loss. You then go into the volatility reports for lets say EURUSD, and you see that during London session and New York session, it's the time where price statistically moves more, so there is where you want to be if you want to day trade (open and close trades in the same day), this can be also noticed if you zoom out for example M5 of almost any pairs, volume will be bigger in this two sessions. Ok so you have statistics of at what times it may move big, you also know that it may not move or it may range the whole day, but definitely there is going to be big moves. If you analyse the past, with only for example a 30 MA, you will see the 50/50. What else do you need? To be in most of the times you are humanly able following the trend, if price is averaging over any average you want and see useful to add, why would you bet that is not going to average oveunder it for some more time? Add a 1000 MA, what if you waited for each cross and traded it trend following? Here then comes a "must": money management = risk = stay in the game for long = you can lose multiple times and long term it's hard that you even lose 10% of your account. Start with the minimum risk, demo in 0.01. Why? If you can consistently win with 0.01 it's just a matter of optimizing the statistics your demo trading over time has thrown, money will come, lots of it, the amount your confidence as a trader can bear and ultimately because trading is so big and involves almost all of the aspects of your life and personality, your confidence as a human being can bear. But this is skipping to psychology. So, volatility, an average of some x periods to get the trend (not of the market but of the x periods in relation to the market and time, x is important, x can't be 2000 in M5), money management and time to play. What else? When will you close the trades? There are multiple ways each one with pros and cons, price crossing the average (too slow sometimes), price hitting fibos (gotta have a method for plotting fibos the same time each time, check the "Do it yourself" section, 61.8 a.k.a 0.618 and 61.8, god made numbers), being this last one the one I like. Price plays with these levels, nothing magical about it, is just "nature", a forgotten and violated term these days IMHO. There it is, when to open with probability, when to close methodically, how to play your money so you last as long as you don't fail too much repeatedly. This results after studying Ralph Elliot's, W Gann's, Wykcoff's, Pesavento's, Gartley's, Carney's and some others WAY TO LOOK AT THE MARKET. They all found structure in price actions over time, they all understood natural patterns that occur, they all sat in front of some charts, used or created tools for handling those charts, in the end everything is so simple and easy that our minds, past, maybe present, the t.v, Instagram won't lets us succeed. Why? Your mind is your biggest enemy of what you want to do in life. How? Your past in someway defines you, defines what you are looking for in life. Psychology, establishment and relativity. Mark Douglas introduced me (in his videos) to a new way of thinking towards trading. He speaks about beliefs, how they drives us in each decision we make each day from as simple as making coffee, having a bath, dressing nice or dressing in the first place. Beliefs are what makes your past define you today and tomorrow if you keep believing them. A wrong belief of yourself, a wrong belief of the world outside your eyes, a wrong belief of the market (you keep trusting other people about the market, in the end after loosing you trust no one), this leads to what lot's of gurus outside the financial world, will say: trust in yourself. Forex gurus tell you to trust them, pay them so they'll unveil the secrets. No money can change your wrong mindset, that feeling in your chest each time you think about possibilities with Forex (euphoria, dangerous as f not only in forex), that belief that some magical indicator will come, some hidden code of some pro advanced indi if you are more realist, some guy with the answer. You are very alone in this world my friend, money will tear countries apart, cities apart, families apart. People will sell their face for some money, their name, in the end corrupt politicians that don't get caught will enjoy their feasts everyday, with their innocent childs, who see their daddy as their hero, this is not a fair world, what's fair in the first place? A human creation so we can live together in peace, but that's not reality we all know. We are evoluted chimps, we still feel what the cheetah feel's in front of his prey, we share 90% of DNA with most of mammals, as intelligent as we like to think we are, we can't delete our nature, our hunger, our fear, our needs, our instinct (the one rushes adrenaline when you know you are losing too much), because deep inside we all know whats right or wrong, the difference between people is whether you hear that voice, or you shut it with a nicer version. 90% of people in forex (not real statistics, the real number varies from broker hmmm brokers another shady topic), prefers the nice version long term, which results not profitable basically. It's your version (you + all gurus you've seen) not the version the market shows and the deep-you tries to alert. I headed far from an important topic: gurus telling to trust them, a killer market killing you, lots of misinformation around the WWW and you not believing in yourself. What else do you have to face the markets? You are in a triangle: broker (not so hard to get a nice one), market and yourself. Everything else is a lie until the person who is in any way selling you stuff, shows you his profitable record of more than 6 months in any financial instrument, that you look at yourself in the mirror and you can say I trust him, not I want to trust him (even if it's some of each, but hey everything involves risk). LOOK AT THE CHARTS. Want to have "fast money" (intraday), look M1 to M30, even H1 for a bird's view, optimize your profitable and consistent demo results to that market; want to look charts once a day, trade D1, I'd say you don't even have to look at something bigger as it is big enough and you can go to H4 or H1 for finesse entries (can become a vicious circle, how much finesse is finesse?). It's all about trust, confidence and a good plan. Psychology of yourself is so vast, and so unique to each person that I would dare to say that if you are looking for the answer outside of you, you better befriend a trader who is today making money and pray that he literally gifts you his confidence (not his knowledge even if it can help, hi will be sharing his confidence). Your social mind will spawn the hype, the euphoria, you will succeed for a while, market will kill you sooner or later, you will help the market to kill your account. Why? Because your confidence wasn't real, it may be that that day, that week the market moved nicely, or you felt strong and super. How many gurus go live and say "hey today, as a human being, I don't feel great, I would not trade today?" none. They say market is not right ATM, cherry picking, they totally exploit that you can't go inside their screens and really know them, here comes the version you want to believe, you will tell yourself anything, you will tell anyone anything. Here to finish, I'll say that consistency in anything in life starts from yourself. If you can't be consistent everyday with yourself for a long period of time, you will find temporary jobs, temporary stuff, you will keep jumping from gurus, from strategies, you will create better versions on your head, just imagine what version a guru must have created to go and sell forex related stuff instead of searching for how to kill the markets, he may be doing both, in the end none of that will give you anything, you will end up being the stair to the gurus goals. Try to comprehend how human we are, how arrogant we are from a farmers perspective, how or evolution results in our minds plays us tricks, to think the government is real, to think there's order, justice, to think that we can achieve huge things with the help of YouTube videos or paying another human being, the market is flow, manipulation is real (why call it manipulation when you would be doing the same in their shoes(big boys)) is part of the nature of anything you plot with Y and X axis (look for a graph of population changes, harmonics, double bottoms, double tops, in a population changes graph? how can that be?), it may be a cliche but is aaaaaaall an illusion guys, the truth is not good business for the other side of the trades. See you on the other side. "I'll be a big noise with all the big boys"
Hi all! Recently we had a bunch of great questions that were asked in the Reddit, right over here: https://www.reddit.com/genesisvision/comments/bbtolk/straight_questions_to_the_gv_team_ten_so_fa We took some time to prepare a reply and here it is! Hello. I am Ruslan Kamenskiy, the person responsible for the GV products in our team. Thank you for the many questions. I will try to answer them as fully as possible, but before answering, I would like to make a small introduction so that members of the community understand more why things are happening anyway. - Development of any project is always a series of trade-offs. Resources are always limited and the need to choose where to send them is always present. Our task is to distribute our resources optimally considering short-term missions and long-term objectives. - We have a very active and large community. It consists of many different representatives. Everyone has their own needs, expectations, problems and pains. And often in some decisions, you need to look for a middle ground, and you can not please everyone. Investors want maximum security, minimum commissions and maximum profits. Managers want huge investments, minimum responsibility and maximum opportunities. Brokers and exchanges want maximum trading volumes from us. And many requirements of different market participants contradict each other. Therefore, we must always look for optimal solutions. - As I said, we have a vast and active community. And as a result, we have a tremendous amount of feedback and suggestions. Every day they come to us from all channels (feedback portal, social networks, Reddit, support mail, and even private messages in telegram). Right now in our task tracker in backlog 160 feedbacks are hanging for implementation. We appreciate the feedback of our users, but unfortunately, due to limited resources, we cannot implement everything at the same time, so we prioritise requests and suggestions. It is excruciating for us to receive messages from our users stating "I suggested this a month ago, but this has not been implemented yet," but we hope for understanding. We are trying. - Investors want the maximum possible profit with minimal risk. But this is impossible. If we go the route of the maximum of investors' safety (for example, we prohibit trading with leverage, we make maximum stop-outs, etc.), this will minimise the potential investor's profit and make the platform uninteresting for managers. We try to find the right balance between protecting investors from rogue managers and allowing investors to make informed on their decisions based on the analytical tools we provide to create transparency in the managers’ trading strategies. However, we do not believe that restricting managers too much is the best path forward for the ecosystem. We view our job as creating a fully transparent system that allows participants to make highly educated decisions => it is then up to them to take ownership of said decision. - Almost every day we get the questions "When exactly this will be." We have internal deadlines for the implementation of various functions, but to make public statements about the exact date of the implementation of some functionality is not always the best idea, because there are many factors affecting the real state of affairs. And the delay, even for a couple of hours, is always perceived by the community as extremely negative. But we do not refuse to share information about our current work and immediate plans. Why do you allow numerous programs by the same manager? Do you intend to curtail it to a limited number? If yes, how many? When will you implement? Allowing managers to have several programs is necessary for the following reasons:
A trader may have several different trading strategies.
A trader can trade in different markets/exchanges.
A manager's account can not only represent a single person but a whole fund with many traders.
All information on the number and performance of all programs is public and available to investors. Do you intend to pose restrictions on entry and success fees to prevent exploitative fees? If yes, what restrictions and when will you implement? Restrictions on maximum fees are already present. At the same time, this information is available in the program details, which allows the investor to evaluate all the sizes of the commissions before making a decision on investing. Additionally, in order to avoid exploitative fees, the entry fee is charged only for programs that have reached level 3. All this together provides, in our opinion, a fairly transparent system of commissions, in which the investor has all the necessary information to make an educated decision. However, if you have any specific constructive suggestions for improving the system, we are always happy to listen and take them into account. Do you intend to start adopting some form of intervention when a trader goes on downward money losing spiral? Some form of trading floor manager action after x% losses? If yes, how and when? If not, why not? We have introduced the Stop-out functionality, just designed to limit the loss of investors. This is an industry standard solution that helps solve the problem described. Do you intend to impose a cool-down time limit or even fee increase limit to prevent managers to close a program and immediately reopen another one? If yes, what/when will you implement? Managers close and open new programs for various reasons, which is a normal workflow, and we do not want to artificially limit them in this. At the same time, information about the number of manager’s programs, as well as their performance, is public and available to investors for analysis. This information, in our opinion, should be sufficient to determine how honest a particular manager acts. Do you intend to implement some form of deletion? In which way? When? The level system is currently being analyzed and re-thought. At the same time, our community takes an active part in this process. Actual information can be obtained in our telegram (work on this is going right now). Do you intend to return entree fees when a program that is announced for a period of X days terminates the program before the end of the period? When? Entry fee is charged starting from 3rd level programs. This means that this is not a new program, but already having a certain history of successful trading. However, your proposal is absolutely reasonable, and in some situations, returning an entry fee may be a fair decision. We are currently working on this issue and are considering how to improve the current situation. Do you intend to implement a policy so that entry fees only vest if the manager makes more profit, net of success fees, than what was charged in the entry fee? When? If you think about it, then this is quite a delicate issue, and we cannot count everything only by profit. I will give a specific example - in the first case, the investor invests 1 BTC in the Forex program, according to the results of the period, the manager does not show a substantial profit (say, he does not cover the entry fee minus the success fee), but during this time the whole crypto market has fallen by 50% (and we all know that this happens). Formally, the conditions for obtaining the entry fee you described are not met, but the manager has helped the investor save (and even multiply) his BTC holdings. Here’s another situation - the investor invests the same 1 BTC in the ETH program, the manager shows a profit sufficient to pay the entry fee according to your policy, but due to a significant drop in the cost of the ETH, the investor is still in the red. So who of these managers really deserves the entry fee? We believe both. Entry Fee is available to programs only from level 3, which means that the manager has successful trading experience, although even with many programs this value is set to zero. A performance-based fee is a success fee, and the entry fee, taking into account all factors, is wiser to leave unconditional, in order to observe the interests of all categories of users. Do you intend to review the way the GVT token is used in the platform to actually create demand for the token? What are the ideas that you have recently been discussing? When are any of those ideas likely to be implemented? Yes, we are constantly working on this issue. Some ideas have been described in recent blog posts (GVT burning, profit distribution in GVT, payment of a subscription for copying in GVT) Nowadays, while the platform have programs with not too much capital, the amount of GVT required to get a discount does not make economic sense. Would you consider a temporary reduction in the number of GVT one needs to hold to get discounts on fees, in the same vein that Binance had very friendly reduced fees in its first year? We have a discount for GVT holders selling on GM in the same way asBinance has discounts for holding BNB on their exchange. And you need to understand that Binance had very friendly fees during a completely different state of the crypto market. The capitalization of all cryptocurrency grew and was much easier to keep them low then it is now. But we are working in this direction. We already know you are planning a new level system. What are some additional concrete investor protection actions the GV team plans to implement? When can we expect them to be implemented? The system of levels is now being revised with the participation of the community. Actual information can be obtained in our telegram (i.e., work on this is underway right now) Will you rethink the functionality and design of the reinvestment toggle, and add clear labels so that users do not have their money tied up in funds that they do not wish to invest in? If yes, when? The reinvest button has already been renamed to “Reinvest profit” for better understanding. When and how will the UI be revamped (The dashboard, so it is clearer how investments are performing; More filters; Display of overall manager performance across all their programs)? Regarding the question “how”, I can not answer shortly. For the answer, you would need to write a whole article, but you can be sure that we are constantly working on improving the UI based on your feedback. If you have been following the development of the platform for a long time, you might notice that with each major update, the UI changes significantly. This is due to the fact that Genesis Vision is a complex system with a lot of information, so it is often possible to find the right balance between informational content and convenience only through trial and error and only with the active participation of product users. Will there be a way to withdraw everything at the next ending of a period? When/how are you going to implement this? Yes, it is already being worked on, but we cannot point to an exact date at the moment. Could you study a way to enable investors to withdraw invested money before the end of the reporting period, in particular if there is money not currently allocated to a trade? What is your thinking about alternative ways to implement this? This issue is not so obvious. If you withdraw funds during the trading period, this can disrupt the manager's trading strategy. Even if these funds are now free, they can be used to maintain margins when trading with leverage. And if you take the money, then Margin Call will happen (and then Stop out) and all investors will lose money, because funds are not enough to maintain the position.
Apache Tomcat is a web server and servlet container that is used to serve Java applications. Tomcat is an open source implementation of the Java Servlet and JavaServer Pages technologies, released by the Apache Software Foundation. This tutorial covers the basic installation and some configuration of the latest release of Tomcat 8 on your CentOS 7 server.
Before you begin with this guide, you should have a separate, non-root user account set up on your server. You can learn how to do this by completing steps 1-3 in the initial server setup for CentOS 7. We will be using Data Center in Romania created here for the rest of this tutorial.
Tomcat requires that Java is installed on the server, so any Java web application code can be executed. Let’s satisfy that requirement by installing OpenJDK 7 with yum. To install OpenJDK 7 JDK using yum, run this command:
sudo yum install java-1.7.0-openjdk-devel
Answer y at the prompt to continue installing OpenJDK 7. Note that a shortcut to the JAVA_HOME directory, which we will need to configure Tomcat later, can be found at /uslib/jvm/jre . Now that Java is installed, let’s create a tomcat user, which will be used to run the Tomcat service.
Create Tomcat User
For security purposes, Forex VPS in Romania should be run as an unprivileged user (i.e. not root). We will create a new user and group that will run the Tomcat service. First, create a new tomcat group:
sudo groupadd tomcat
Then create a new tomcat user. We’ll make this user a member of the tomcat group, with a home directory of /opt/tomcat (where we will install Tomcat), and with a shell of /bin/false (so nobody can log into the account):
Now that our tomcat user is set up, let’s download and install Tomcat.
The easiest way to install Tomcat 8 at this time is to download the latest binary release then configure Windows remote desktop.
Download Tomcat Binary
Find the latest version of Tomcat 8 at the Tomcat 8 Downloads page. At the time of writing, the latest version is 8.5.37. Under the Binary Distributions section, then under the Core list, copy the link to the “tar.gz”. Let’s download the latest binary distribution to our home directory using wget . First, install wget using the yum package manager:
sudo yum install wget
Then, change to your home directory:
Now, use wget and paste in the link to download the Tomcat 8 archive, like this (your mirror link will probably differ from the example):
Tomcat is not completely set up yet, but you can access the default splash page by going to your domain or IP address followed by :8080 in a web browser:
Open in web browser:http://server_IP_address:8080
You will see the default Tomcat splash page, in addition to other information. Now we will go deeper into the installation of Tomcat.
Configure Tomcat Web Management Interface
In order to use the manager webapp that comes with Tomcat, we must add a login to our Tomcat server. We will do this by editing the tomcat-users.xml file:
sudo vi /opt/tomcat/conf/tomcat-users.xml
This file is filled with comments which describe how to configure the file. You may want to delete all the comments between the following two lines, or you may leave them if you want to reference the examples: tomcat-users.xml excerpt
You will want to add a user who can access the manager-gui and admin-gui (webapps that come with Tomcat). You can do so by defining a user similar to the example below. Be sure to change the username and password to something secure: tomcat-users.xml — Admin User
Save and quit the tomcat-users.xml file. By default, newer versions of Tomcat restrict access to the Manager and Host Manager apps to connections coming from the server itself. Since we are installing on a remote machine, you will probably want to remove or alter this restriction. To change the IP address restrictions on these, open the appropriate context.xml files. For the Manager app, type:
sudo vi /opt/tomcat/webapps/manageMETA-INF/context.xml
For the Host Manager app, type:
sudo vi /opt/tomcat/webapps/host-manageMETA-INF/context.xml
Inside, comment out the IP address restriction to allow connections from anywhere. Alternatively, if you would like to allow access only to connections coming from your own IP address, you can add your public IP address to the list: context.xml files for Tomcat webapps
Save and close the files when you are finished. To put our changes into effect, restart the Tomcat service:
sudo systemctl restart tomcat
Access the Web Interface
Now that Tomcat is up and running, let’s access the web management interface in a web browser. You can do this by accessing the public IP address of the server, on port 8080:
Open in web browser:http://server_IP_address:8080
You will see something like the following image: 📷 As you can see, there are links to the admin webapps that we configured an admin user for. Let’s take a look at the Manager App, accessible via the link or http://server_IP_address:8080/managehtml : 📷 The Web Application Manager is used to manage your Java applications. You can Start, Stop, Reload, Deploy, and Undeploy here. You can also run some diagnostics on your apps (i.e. find memory leaks). Lastly, information about your server is available at the very bottom of this page. Now let’s take a look at the Host Manager, accessible via the link or http://server_IP_address:8080/host-managehtml/ : 📷 From the Virtual Host Manager page, you can add virtual hosts to serve your applications from.
Your installation of Tomcat is complete! Your are now free to deploy your own Java web applications!
Google has released the first stable version of the Android ten operating system for regular users. While it is available only for Google Pixel smartphones. https://preview.redd.it/el0lbusnmrk31.png?width=1920&format=png&auto=webp&s=b43934e3ae18cef4df11c6122b67153c582a737d The company promised that on smartphones from other manufacturers, Android 10 would appear later in 2019. The exact dates and specific partners at Google were not named. Some models of smartphones Huawei, OnePlus, LG, Xiaomi, and other manufacturers participated in testing the beta versions of Android 10. Part of the features that Android 10 received: A dark theme which can be activated both for individual applications and for the entire system. The "smart answer" supports various actions with notifications: for example, the system prompts you to immediately open the link in Chrome, the video on YouTube, the address in the maps application. Updated navigation with gestures: swiping on the screen replaces the "Back" button; by default, when swiping to the right, the system deletes the notification, and when swiping to the left, it opens a new menu. Live Caption - creates subtitles for video and audio clips (for example, podcasts or audio messages) in any application in real-time. Security updates and other vital components of the Android OS are downloaded via Google Play. This way, Google will be able to quickly distribute essential updates without waiting for device manufacturers to download them. Control over track location. For example, a user may restrict tracking for applications to their active use only. The system will warn if an application continues to track location after closing. Focus Mode allows you to temporarily disable applications that distract the user from the main work, including social networks, instant messengers, YouTube, and more. The feature will be available later in 2019. You can find more information about the stock market, commodity market, and FOREX on the ITRADER site. This material is considered a marketing communication and does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments. Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.16% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Legal Information: ITRADER is operated by Hoch Capital Ltd., a Cypriot Investment Firm (CIF), authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under the license no. 198/13, in accordance with the Markets in Financial Instruments Directive (MiFID II).
The Federal Trade Commission has said that YouTube has earned "millions of dollars." Google will pay a fine of $ 170 million for the illegal collection of personal data of children by YouTube video hosting, the US Federal Trade Commission (FTC) said in their statement. https://preview.redd.it/xi92p2u3dsk31.jpg?width=992&format=pjpg&auto=webp&s=33adc0b599a5a5de0d1dd9d4dd03ae867d469aa0 The company has violated the Children's Online Privacy Protection Act, which prohibits Internet companies from using the information of these children under the age of 13 without parental consent. This is the largest fine that the Federal Trade Commission imposed for violating COPPA, the agency said. FTC will receive $ 136 million, another $ 34 million will be paid to the state of New York. Besides, Google is required to implement a system that will allow the identification of content for children on YouTube channels. The company will have to regularly report on data collection practices and provide verifiable parental consent. The prosecution claims that by collecting data on children, YouTube earned "millions of dollars" by showing ads to a target audience of channels with child content. The FTC warned that content creators on YouTube should not use illegally obtained personal data of children for advertising their videos either. Otherwise, they may be fined, and their accounts could get deleted from the platform. You can find more information about the stock market, commodity market, and FOREX on the ITRADER site. This material is considered a marketing communication and does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments. Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.16% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Legal Information: ITRADER is operated by Hoch Capital Ltd., a Cypriot Investment Firm (CIF), authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under the license no. 198/13, in accordance with the Markets in Financial Instruments Directive (MiFID II).
So this is not some good juicy story, I would like to share it rather than keep it to myself. TLDR on the bottom. I'm someone who loves to take risks. So I like to test the waters before I fully commit. So I recently found a good scammer on instagram, I shouldn't probably post their name but oh well... @providentforex ... They market well but do really really bad in actual trading. They offer a few services that already seem odd but hey, no risk no reward? In this case no chance of reward. I joined a copier service (basically they make trades on their side and then it gets copied onto your account) and jeez.. did this thing blow up! Their minimum deposit is 500 GBP and a monthly fee of 149 GBP for the service ( I am fortunate enough to lose this money to see if it is worth it, maybe this should be in forex too?) A bit of info for later: In trading we use risk management to protect our capital and profit made so we don't blow thousands on one bad trade or some other news event, so even during horrible trades you're still safe. They promote they make like a crazy 5% return per day! I mean who doesn't want that? -First week, made 26 GBP still good but not what they promise and they make up a bunch of excuses and the account equity is like 300 from 500 due to over trading and using to much margin, but like I said they just chuck a few clever words to make it seem normal. Week 2, 78 GBP made but the overall equity is still like below 300 GBP, which means if all trades were to close at that moment the balance would be somewhere in die 200's but they still make up some savvy excuses and things move on. Week 3, also today, the account is blown. Due to opening too many trades and too big positions, the broker, THE BROKER decided to manually close trades and 78% of the account is gone! Remember this group has like 140+ people subscribed ( not their telegram chat group : https://t.me/joinchat/Iz2SVg4-iHyVCjBAQ5YDBg ) so a lot of people lost way more than I even put in. About the risk management, they swore high and low they applied best risk management (lie from the start) and accounts won't be blown. RIP 500GBP - 149GBP. They admins keep deleting my messages when I confront them and won't address it even when other clients are asking about it.. How to scam people 101: Good marketing, show how you make a lot of money and BOOM! They fishes are bound to come swimming and you probably reserved a spot in hell. I know it's my own problem and I'm good with that but if I can warn unsuspecting victims then I'm good with losing that money if it means saving other people their own money. TLDR: I take risk in fx related stuff. Found a good marketing fx scammer. Expectations did not reach reality. Lost money and admins ignore the issue otherwise they lose clients. I didn't give away some of their info above. Give you scamming blueprints and be a happy boy to warn others :D
So, long time lurker of this subreddit, but only have posted once before. I'll get to that later. First, I'd like to share my appreciation for this sub as a new beginner getting into trading. There's a lot of crap out there and it’s hard to sift through it. Not saying crap doesn't get posted here, but it's well modded. So thanks for that. This is a decent place to get grounded. Intention of this post is info from one newb to other newbs getting started. The purpose of this post is more for information and factual stuff than advice. As a beginner some times just factual info can be the most help rather than advice. I’ll try to make this quick. Probably won’t be, I’m summarizing a year and 4wks here. How I got started. I was listening to Jim Cramer on Mad Money while at work. Yea don’t laugh. I always wanted to trade stocks, but never really had the capital to do it. The idea of working from home and trading always appealed to me like it has to many others. Also, I was getting frustrated with my job, (still there by the way). Anyways, once I finished paying off all my school loans I started seriously looking in to trading. I’m 26 atm. Quickly learned I still didn’t have the capital to trade stocks the way I wanted to. Living in the U.S. and subject to the pattern day trading rules I would need 25k. Which I don’t. Not sure where I found the info but looking for other ways to trade I discovered spot forex. Hey! And you don’t need 25k to trade like a mad man. Quickly learned from multiple sources, seriously its everywhere, if doing FX you need to go through babypips. So 1 year ago at the beginning of March I started working my way through baby pips. Also, I opened up a practice account with Oanda at the same time of starting babypips. Being in U.S. the broker options are limited. I saw the big 3, Gain, FXCM, and Oanda. Gain had terrible reviews, FXCM already had a sketchy past, so I picked Oanda. But honestly they all have bad reviews, but I wanted to trade. Took me about 2 months to work my way through baby pips course while trying every indicator under the sun on my practice account. Also discovered tradingview during this time. Best analysis center out there honestly. Now around my 3rd month I started to hit this wall ( this is a magical wall that re-appears throughout this endeavor whenever you finally think you’re getting somewhere) . Realizing that with all the crap and indicators on the screen and if I’m being honest with myself I haven’t got a clue what the crap I’m doing. I knew I needed to simplify things and stick with things that stuck out to me (you know what they say, find your edge). For me that was going to be MACD. It’s the one thing I thought I understood. Keyword “thought”. And only in the larger time frames 4hr + charts. I could clearly see divergence and convergence throughout the charts. And I could clearly see a shift in the trend after things like divergence. So my goal was to master the MACD. It was brutal, but in some ways it worked for me. I could clearly see that an up or down trend was dying out on the daily or 4hr. charts. So when I thought the trend was almost over I would start taking reversal trades or what I thought were break outs of the trend. My practice account almost got murdered multiple times. But if I was convinced the trend was turning, I kept buying or selling more positions until it reversed (but sometimes it never turned and I just ended up cutting a huge loss). Now I’m getting close to 6 months of trading. I was up about 40% on my 100k practice account. Believe me, I understand I still didn’t have money management, and it was probably complete luck, and it was stupid trading with such a large practice account, but at this point in my mind I thought I was ready for the “next stage.” Going live, some people suggest not going live until you have your strategy completely mastered. ( I didn’t) So naturally my sympathy’s fell with those who suggest after 3 months of positive trading you should start prepping yourself mentally with a small real account. By this time I had saved up $3k to throw into my live account with Oanda. And I told myself I was mentally prepared to completely lose all 3k (was I really? I don’t’ know). Why did I pick 3k as my start amount? To me it was just large enough that it would hurt if I lost it, and the potential wasn’t too small where if I was successful I would only be able to buy a happy meal from McDonalds. So here I am, 6 months into trading with a live account. It started about as bad as one could expect for someone with no money management. I still didn’t know how to take profit with targets. It’s like I took a stupid pill right before trading live. Cause not only did I not trade divergence all the time, I started taking trades from others on tradingview. Hence my first post on this reddit which I got railed for copying another persons trade. I had to take break for like 2 weeks after that to recoup my mind. I lost about 25% or more of my account. Started taking money management seriously at this point. Started reading up on it, started taking calculated trades with risking only 2% of my account. Those first 2 weeks were necessary for me to grasp money management. Believe me I read all about money management, I even understood it for the most part, but I didn’t really utilize it till I took that hit on my account. Reading is not the same as experiencing. Now things started to work out for me again. I went back to searching for divergent trades, my trades. But I also started looking for others on trading view who traded just divergence. This helped, especially when it came to spotting trades you agreed on. I didn’t just follow the highest rated traders, I followed those who were trading similar to my style. Now, believe me, I still suck at trading at this point, but my money management still allowed me to recover my account, and even gain on it. But I was break-even trader 9-10 months in with my bad trading. Now this is going to be the part that I never thought I would do, especially since its frowned on in general by this group. But I paid for a trading course, well more like to join a permanent trading group who trains you. (I’m not recommending this) I won’t say who or what the group is. This is just factual information. Yes I paid 2.5k to join a group. So don’t ask who the group is. I’m not writing all this just so the mods delete it as a promotion. But through trading view I found someone whose charts I liked a lot and got in contact with him. Our trading styles were similar and he peaked my interest and was nice when I contacted him and I wanted to learn more faster. So like I said, I found someone whose trading style I associated with. Your style maybe completely different and probably is. So finding a group who doesn’t trade like you would be a complete waste of time. And what do I think of my experience in a trading group? I refrained from live trading during these several weeks of training. I wasn’t the only student. In general we had 1 week of lessons, then split into a small groups for 2 weeks of 1 on 1 trading with a senior trader. Rinse and repeat for a couple of weeks that was my training. All in all, it wasn’t all I expected and yet it was more than I could have expected. I did learn new techniques that I believe help me, but I only finished 2 weeks ago. So all in all its been 1 year and 4 wks since I started trading. I haven’t made globs of money in a short time. And I’m still not as good as the senior traders in our group. I still maintain a full time job because it’s necessary for me at this point. I was waking up at 4:30am in the morning just so I could attend these training sessions. And trade before and after work, and have reduced my work hours from 50+hrs a week down to just 40 hrs so I have more time to trade. I hope one day to quit my job so I can trade full time. Anyways that’s my first year of trading in a nutshell. Going into my second year. If you would like me to update again at the beginning of my 3rd year give it a thumbs up. God Bless.
"Satoshi Nakamoto" the mysterious creator of Bitcoin is no other than the CIA
Bitcoin has surged to all time highs, Who created Bitcoin, and why? The creator of Bitcoin is officially a name, “Satoshi Nakamoto” – very few people believe that it was a single male from Japan. In the early days of Bitcoin development this name is associated with original key-creation and communications on message boards, and then the project was officially handed over to others at which point this Satoshi character never appeared again (Although from time to time someone will come forward saying they are the real Satoshi Nakamoto, and then have their posts deleted). Bitcoin could very well be the ‘one world currency’ that conspiracy theorists have been talking about for some time. It’s a kill five birds with one stone solution – not only is Bitcoin an ideal one world currency, it allows law enforcement a perfect record of all transactions on the network. It states very clearly on bitcoin.org (the official site) in big letters “Bitcoin is not anonymous” : Some effort is required to protect your privacy with Bitcoin. All Bitcoin transactions are stored publicly and permanently on the network, which means anyone can see the balance and transactions of any Bitcoin address. However, the identity of the user behind an address remains unknown until information is revealed during a purchase or in other circumstances. This is one reason why Bitcoin addresses should only be used once. Another advantage of Bitcoin is the problem of Quantitative Easing – the Fed (and thus, nearly all central banks in the world) have painted themselves in a corner, metaphorically speaking. QE ‘solved’ the credit crisis, but QE itself does not have a solution. Currently all currencies are in a race to zero – competing with who can print more money faster. Central Bankers who are in systemic analysis, their economic advisors, know this. They know that the Fiat money system is doomed, all what you can read online is true (just sensationalized) – it’s a debt based system based on nothing. That system was created, originally in the early 1900’s and refined during Breton Woods followed by the Nixon shock (This is all explained well in Splitting Pennies). In the early 1900’s – there was no internet! It is a very archaic system that needs to be replaced, by something modern, electronic, based on encryption. Bitcoin! It’s a currency based on ‘bits’ – but most importantly, Bitcoin is not the ‘one world currency’ per se, but laying the framework for larger cryptocurrency projects. In the case of central banks, who control the global monetary system, that would manifest in ‘Settlement Coin’ : Two resources available almost exclusively to central banks could soon be opened up to additional users as a result of a new digital currency project designed by a little-known startup and Swiss bank UBS. One of those resources is the real-time gross settlement (RTGS) system used by central banks (it’s typically reserved for high-value transactions that need to be settled instantly), and the other is central bank-issued cash. Using the Utility Settlement Coin (USC) unveiled today, the five-member consortium that has sprung up around the project aims to help central banks open-up access to these tools to more customers. If successful, USC has the potential to create entirely new business models built on instant settling and easy cash transfers. In interview, Robert Sams, founder of London-based Clearmatics, said his firm initially worked with UBS to build the network, and that BNY Mellon, Deutsche Bank, ICAP and Santander are only just the first of many future members. the NSA/CIA often works for big corporate clients, just as it has become a cliche that the Iraq war was about big oil, the lesser known hand in global politics is the banking sector. In other words, Bitcoin may have very well been ‘suggested’ or ‘sponsored’ by a banker, group of banks, or financial services firm. But the NSA (as we surmise) was the company that got the job done. And probably, if it was in fact ‘suggested’ or ‘sponsored’ by a private bank, they would have been waiting in the wings to develop their own Bitcoin related systems or as in the above “Settlement Coin.” So the NSA made Bitcoin – so what? The FX markets currently represent the exchange between ‘major’ and ‘minor’ currencies. In the future, why not too they will include ‘cryptocurrencies’ – we’re already seeing the BTC/EUR pair popup on obscure brokers. When BTC/USD and BTC/EUR are available at major FX banks and brokers, we can say – from a global FX perspective, that Bitcoin has ‘arrived.’ Many of us remember the days when the synthetic “Euro” currency was a new artificial creation that was being adopted, although the Euro project is thousands of degrees larger than the Bitcoin project. But unlike the Euro, Bitcoin is being adopted at a near exponential rate by demand (Many merchants resisted the switch to Euros claiming it was eating into their profit margins and they were right!). And to answer the question as to why Elite E Services is not actively involved in Bitcoin the answer is that previously, you can’t trade Bitcoin. Now we’re starting to see obscure brokers offering BTC/EUR but the liquidity is sparse and spreads are wacky – that will all change. When we can trade BTC/USD just like EUUSD you can bet that EES and a host of other algorithmic FX traders will be all over it! It will be an interesting trade for sure, especially with all the volatility, the cross ‘pairs’ – and new cryptocurrencies. For the record, for brokers- there’s not much difference adding a new symbol (currency pair) in MT4 they just need liquidity, which has been difficult to find. So there’s really nothing revolutionary about Bitcoin, it’s just a logical use of technology in finance considering a plethora of problems faced by any central bank who creates currency. And there are some interesting caveats to Bitcoin as compared to major currencies; Bitcoin is a closed system (there are finite Bitcoin) – this alone could make such currencies ‘anti-inflationary’ and at the least, hold their value (the value of the USD continues to deteriorate slowly over time as new M3 introduced into the system.) But we need to pay Here’s some interesting theories about who or whom is Satoshi: A corporate conglomerate Some researchers proposed that the name ‘Satoshi Nakamoto’ was derived from a combination of tech companies consisting of Samsung, Toshiba, Nakayama, and Motorola. The notion that the name was a pseudonym is clearly true and it is doubtful they reside in Japan given the numerous forum posts with a distinctly English dialect. Craig Steven Wright This Australian entrepreneur claims to be the Bitcoin creator and provided proof. But soon after, his offices were raided by the tax authorities on ‘an unrelated matter’ Soon after these stories were published, authorities in Australia raided the home of Mr Wright. The Australian Taxation Office said the raid was linked to a long-running investigation into tax payments rather than Bitcoin. Questioned about this raid, Mr Wright said he was cooperating fully with the ATO. “We have lawyers negotiating with them over how much I have to pay,” he said. Other potential creators Nick Szabo, and many others, have been suggested as potential Satoshi – but all have denied it: The New Yorker published a piece pointing at two possible Satoshis, one of whom seemed particularly plausible: a cryptography graduate student from Trinity College, Dublin, who had gone on to work in currency-trading software for a bank and published a paper on peer-to-peer technology. The other was a Research Fellow at the Oxford Internet Institute, Vili Lehdonvirta. Both made denials. Fast Company highlighted an encryption patent application filed by three researchers – Charles Bry, Neal King and Vladimir Oksman – and a circumstantial link involving textual analysis of it and the Satoshi paper which found the phrase “…computationally impractical to reverse” in both. Again, it was flatly denied. THE WINNER: It was the NSA The NSA has the capability, the motive, and the operational capacity – they have teams of cryptographers, the biggest fastest supercomputers in the world, and they see the need. Whether instructed by their friends at the Fed, in cooperation with their owners (i.e. Illuminati banking families), or as part of a DARPA project – is not clear and will never be known (unless a whistleblower comes forward). In fact, the NSA employs some of the best mathematicians and cryptographers in the world. Few know about their work because it’s a secret, and this isn’t the kind of job you leave to start your own cryptography company. But the real smoking Gun, aside from the huge amount of circumstantial evidence and lack of a credible alternative, is the 1996 paper authored by NSA “HOW TO MAKE A MINT: THE CRYPTOGRAPHY OF ANONYMOUS ELECTRONIC CASH” The NSA was one of the first organizations to describe a Bitcoin-like system. About twelve years before Satoshi Nakamotopublished his legendary white paper to the Metzdowd.com cryptography mailing list, a group of NSA information security researchers published a paper entitled How to Make a Mint: the Cryptography of Anonymous Electronic Cash in two prominent places, the first being an MIT mailing list and the second being much more prominent, The American Law Review The paper outlines a system very much like Bitcoin in which secure financial transactions are possible through the use of a decentralized network the researchers refer informally to as a Bank. They list four things as indispensable in their proposed network: privacy, user identification (protection against impersonation), message integrity (protection against tampering/substitution of transaction information – that is, protection against double-spending), and nonrepudiation (protection against later denial of a transaction – a blockchain!). It is evident that SHA-256, the algorithm Satoshi used to secure Bitcoin, was not available because it came about in 2001. However, SHA-1 would have been available to them, having been published in 1993. Why would the NSA want to do this? One simple reason: Control. As we explain in Splitting Pennies – Understanding Forex – the primary means the US dominates the world is through economic policy, although backed by bombs. And the critical support of the US Dollar is primarily, the military. The connection between the military and the US Dollar system is intertwined inextricably. There are thousands of great examples only one of them being how Iraq switched to the Euro right before the Army’s invasion. In October 2000 Iraq insisted on dumping the US dollar – ‘the currency of the enemy’ – for the more multilateral euro. The changeover was announced on almost exactly the same day that the euro reached its lowest ebb, buying just $0.82, and the G7 Finance Ministers were forced to bail out the currency. On Friday the euro had reached $1.08, up 30 per cent from that time. Almost all of Iraq’s oil exports under the United Nations oil-for-food programme have been paid in euros since 2001. Around 26 billion euros (£17.4bn) has been paid for 3.3 billion barrels of oil into an escrow account in New York. The Iraqi account, held at BNP Paribas, has also been earning a higher rate of interest in euros than it would have in dollars. The point here is there are a lot of different types of control. The NSA monitors and collects literally all electronic communications; internet, phone calls, everything. They listen in even to encrypted voice calls with high powered microphones, devices like cellphones equipped with recording devices (See original “Clipper” chip). It’s very difficult to communicate on planet Earth in private, without the NSA listening. So it is only logical that they would also want complete control of the financial system, including records of all electronic transactions, which Bitcoin provides. Could there be an ‘additional’ security layer baked into the Blockchain that is undetectable, that allows the NSA to see more information about transactions, such as network location data? It wouldn’t be so far fetched, considering their past work, such as Xerox copy machines that kept a record of all copies made (this is going back to the 70’s, now it’s common). Of course security experts will point to the fact that this layer remains invisible, but if this does exist – of course it would be hidden. More to the point about the success of Bitcoin – its design is very solid, robust, manageable – this is not the work of a student. Of course logically, the NSA employs individuals, and ultimately it is the work of mathematicians, programmers, and cryptographers – but if we deduce the most likely group capable, willing, and motivated to embark on such a project, the NSA is the most likely suspect. Universities, on the other hand, didn’t product white papers like this from 1996. Another question is that if it was the NSA, why didn’t they go through more trouble concealing their identity? I mean, the internet is rife with theories that it was in fact the NSA/CIA and “Satoshi Nakamoto” means in Japanese “Central Intelligence” – well there are a few answers for this, but to be congruent with our argument, it fits their profile. Where could this ‘hidden layer’ be? Many think it could be in the public SHA-256, developed by NSA (which ironically, was the encryption algorithm of choice for Bitcoin – they could have chosen hundreds of others, which arguably are more secure): Claims that the NSA created Bitcoin have actually been flung around for years. People have questioned why it uses the SHA-256 hash function, which was designed by the NSA and published by the National Institute for Standards and Technology (NIST). The fact that the NSA is tied to SHA-256 leads some to assume it’s created a backdoor to the hash function that no one has ever identified, which allows it to spy on Bitcoin users. “If you assume that the NSA did something to SHA-256, which no outside researcher has detected, what you get is the ability, with credible and detectable action, they would be able to forge transactions. The really scary thing is somebody finds a way to find collisions in SHA-256 really fast without brute-forcing it or using lots of hardware and then they take control of the network,” cryptography researcher Matthew D. Green of Johns Hopkins University said in a previous interview. Then there’s the question of “Satoshi Nakamoto” – if it was in fact the NSA, why not just claim ownership of it? Why all the cloak and dagger? And most importantly, if Satoshi Nakamoto is a real person, and not a group that wants to remain secret – WHY NOT come forward and claim your nearly $3 Billion worth of Bitcoin (based on current prices). Did the NSA create Satoshi Nakamoto? The CIA Project, a group dedicated to unearthing all of the government’s secret projects and making them public, hasreleased a video claiming Bitcoin is actually the brainchild of the US National Security Agency. The video entitled CIA Project Bitcoin: Is Bitcoin a CIA or NSA project? claims that there is a lot of compelling evidences that proves that the NSA is behind Bitcoin. One of the main pieces of evidence has to do with the name of the mysterious man, woman or group behind the creation of Bitcoin, “Satoshi Nakamoto”. According to the CIA Project, Satoshi Nakamoto means “Central Intelligence” in Japanese. Doing a quick web search, you’ll find out that Satoshi is usually a name given for baby boys which means “clear thinking, quick witted, wise,” while Nakamoto is a Japanese surname which means ‘central origin’ or ‘(one who lives) in the middle’ as people with this surname are found mostly in the Ryukyu islands which is strongly associated with the Ry?ky? Kingdom, a highly centralized kingdom that originated from the Okinawa Islands. So combining Nakamoto and Satoshi can be loosely interpreted as “Central Intelligence”. Is it so really hard to believe? This is from an organization that until the Snowden leaks, secretly recorded nearly all internet traffic on the network level by splicing fiber optic cables. They even have a deep-sea splicing mission that will cut undersea cables and install intercept devices. Making Bitcoin wouldn’t even be a big priority at NSA. Certainly, anonymity is one of the biggest myths about Bitcoin. In fact, there has never been a more easily traceable method of payment. Every single transaction is recorded and retained permanently in the public “blockchain”. The idea that the NSA would create an anarchic, peer-to-peer crypto-currency in the hope that it would be adopted for nefarious industries and become easy to track would have been a lot more difficult to believe before the recent leaks by Edward Snowden and the revelation that billions of phone calls had been intercepted by the US security services. We are now in a world where we now know that the NSA was tracking the pornography habits of Islamic “radicalisers” in order to discredit them and making deals with some of the world’s largest internet firms to insert backdoors into their systems. And we’re not the only ones who believe this, in Russia they ‘know’ this to be true without sifting through all the evidence. Nonetheless, Svintsov’s remarks count as some of the more extreme to emanate from the discussion. Svintsov told Russian broadcast news agency REGNUM:“All these cryptocurrencies [were] created by US intelligence agencies just to finance terrorism and revolutions.”Svintsov reportedly went on to explain how cryptocurrencies have started to become a payment method for consumer spending, and cited reports that terrorist organisations are seeking to use the technology for illicit means. Let’s elaborate on what is ‘control’ as far as the NSA is concerned. Bitcoin is like the prime mover. All future cryptocurrencies, no matter how snazzy or functional – will never have the same original keys as Bitcoin. It created a self-sustained, self-feeding bubble – and all that followed. It enabled law enforcement to collect a host of criminals on a network called “Silk Road” and who knows what other operations that happened behind the scenes. Because of pesky ‘domestic’ laws, the NSA doesn’t control the internet in foreign countries. But by providing a ‘cool’ currency as a tool, they can collect information from around the globe and like Facebook, users provide this information voluntarily. It’s the same strategy they use like putting the listening device in the chips at the manufacturing level, which saves them the trouble of wiretapping, electronic eavesdropping, and other risky methods that can fail or be blocked. It’s impossible to stop a cellphone from listening to you, for example (well not 100%, but you have to physically rewire the device). Bitcoin is the same strategy on a financial level – by using Bitcoin you’re giving up your private transactional information. By itself, it would not identify you per se (as the blockchain is ‘anonymous’ but the transactions are there in the public register, so combined with other information, which the NSA has a LOT OF – they can triangulate their information more precisely. That’s one problem solved with Bitcoin – another being the economic problem of QE (although with a Bitcoin market cap of $44 Billion, that’s just another day at the Fed buying MBS) – and finally, it squashes the idea of sovereignty although in a very, very, very subtle way. You see, a country IS a currency. Until now, currency has always been tied to national sovereignty (although the Fed is private, USA only has one currency, the US Dollar, which is exclusively American). Bitcoin is a super-national currency, or really – the world’s first one world currency. Of course, this is all great praise for the DOD which seems to have a 50 year plan – but after tens of trillions spent we’d hope that they’d be able to do something better than catching terrorists (which mostly are artificial terrorists)
It's funny they approved my ads in the first place with no problems. Out of nowhere they deleted my ads account for no reason whatsoever. They said nothing particular. I sell a trading indicator used for Forex and stocks. I don't give financial advice or trade peoples money. It's just a piece of software. I did mention on my site you can also use it on Tradingview to get signals for cryptocurrencies, stocks and hundreds of other tradable assets. According to there terms they banned ICO ads and other coin specific ads. They said theirs exemptions if you fill out a form which I wasn never asked to fill out. My ads where approved dozens of times at no point where any of my ads flagged or anything ever. I asked them what exactly did I violate they gave me no explanation specifically just this generic copy and paste response; I had another look at your ad account and unfortunately we won't be able to re-enable it. All ad accounts are evaluated for policy compliance and quality of ad content. When accounts run ads that don't follow our Advertising Policies, they're disabled. There's no further action that you may take here. We don't support ads for your business model. Please consider this decision final. How was your appeals experience? Give us your feedback to help us do better: Thanks! Thanks, Harvey
Huachi's Big Fat Election Week ~~Gambling~~ Trading Thread (6NOV-11NOV)
Ha! Strikethrough doesn't work on titles. So noted. Well, it's here: One of the worst elections in US history, two despicable candidates, outraged anger amongst the populous, and economic turmoil, all right around the corner, just for you, this Tuesday Tuesday Tuesday! Will the market go up? Down? Right? Left??!! Who the hell knows, and that is why we are putting this thread up. So, listen, there have already been a plethora of threads asking for advice on par with Brexit: "Which way will it go if XXXXXXXX wins?" "What about EUR?" "What about MXN?" "What about KPW?" "How do I get rich off of this??!" The answer: you don't. Unless you have stops set, have a plan, or have secret Illuminati knowledge of which candidate is supposed to win, we recommend that you don't "play" the elections. Wait until Wednesday morning and see which way the market is going. Get ready for some chop. New traders especially: This is a rare event that has the capability to move the market in exponential directions, also has the potential for whipsawing markets radically. If you are new, do not gamble. This is not a game: you can lose a significant portion of your account including being stopped out, margin called, or potentially being negative balanced. All traders - Within this thread post what you think the market is going to do, what your plans are, how you plan to trade. The usual criterion: I do my best to delete empty posts. I want to see charts, SL, TP, entry (if any), and reason for the trade. Remember that there are additional margin requirements across most brokers; take this into consideration when doing your maths. Also, watch those spreads! It's probably going to be ridiculous on Tuesday. What is an /Forex denizen to do?
A Forensic Approach to Trading: Examining the FOMC release.
It's a truism in trading that your strategies are worthless unless they pass the test of the market. They either make money in the long run, or they don't. We have a hard, factual standard we can hold matters to. When it comes to theories about what is happening in the market, it's much harder to apply similar standards because many things don't appear on the charts. However, this often means we fail to even try. This is bad practice. We should be willing to challenge our own, and other's theories about the market, as well as investigate out-of-the-box theories, by comparing them to available chart evidence. Edit: squitstoomuch has drawn my attention to the fact that my analysis and understanding of the situation has some serious, if not fatal flaws. Rather than delete the post, I'll leave it up because looking at other people's mistakes is often useful, and it's still a good idea to compare your ideas to the charts and see if the market validates them. Grossly incorrect stuff has strike throughs, the rest still stands. For example, a very common analysis you will hear after the combination of rate decision and Governor press conference is that the overall direction of movement can be accounted for by what was said in the conference. This is something you can assess by looking at the charts. Proposition 1: The USD fell largely due to Yellen's comments implying future rate trajectories Consider: M1 EURUSD http://i.imgur.com/MS7ceQf.png M1 USDJPY http://i.imgur.com/JeHI8qw.png You can see that the majority of the price movement against the USD happens within the first ten minutes after the rate release, and within that, the majority of the move happened within the first minute. Logic dictates that NONE of this movement was related to the content of the speech, simply because the speech had not been given yet. You can also see that although there was movement throughout the speech, it managed to only depress the USD an additional third compared to the rate release. How you choose to interpret this is up to you, but at least you can now frame the 'it was Yellen's speech that did it' theories in the context of some irrefutable evidence. My personal interpretation is that whilst the speech content strongly influences price, and did further depress the USD, it was not the original motivator for the drop. Nor was it the main determinant of the magnitude of the drop in the value of the USD, because both of those happened before she ever opened her mouth. ~~ Let's look at some more propositions. Proposition 2: You should trade what happened last time USDJPY H1 chart from 14th December 2016, the previous time rates were raised. FOMC raises Fed Fund Rate, USD goes: http://i.imgur.com/qL7upT7.png ... up. So if you had simply looked at what happened last time, and then bought this time, you would have lost money. I'm going to strongly recommend that nobody short the USD for the next rate hike just because it went down this time! Proposition 3: You could have just predicted the movement on technicals. Well... http://i.imgur.com/zYOlVmw.png ... as it turns out, one of the most basic, elementary technical strategies (trendline + horizontal resistance) would have gotten you in nicely this time, at least on USDJPY. The EURUSD set-up was a bit more advanced, but still straightforward in the context of the essentially guaranteed rate decision. http://i.imgur.com/L8B7s1K.png Interestingly, pivot points perfectly predicted the extent of the day's price movement this time round. USDJPY (D) http://i.imgur.com/emY42Nn.png EURUSD (H1) http://i.imgur.com/fD8UDss.png (Note the different timeframes. This may just be a case of coincidence, but I will say that ever since I put them on my charts, they've been very useful for exactly this sort of thing: how far the market will go before a pause or a retrace). Proposition 4: the market is irrational and unpredictable I don't have any strong evidence to disprove this, but I will say that the NFP price action was a big red flag that something like this was going to happen on FOMC day, and that there are clear, strongly repeatable analytical approaches that predicted an outcome like this. Many people were not the least bit surprised. . Finally, I'd like to suggest that this is much more than just "pricing in". I don't have the time nor patience to go through my archives and dig out every "priced in" economic release that I've ever tried to trade, so I'll leave the evidence hunt for those more curious. But in my experience, when the market has priced an event in, and that event happens, the usual result is ... nothing. This is what 'pricing in' means, that price is already correct in regards to that information. If anything actually happens, it's usually counter-intuitive, and that means that the big banks are using the event to hustle price about. As a footnote, that's not the only way they hustle price. One thing they also like to use talking heads to influence market sentiment: http://news.forexlive.com/!/goldman-sachs-see-a-second-fed-hike-in-june-20170310 (This bulletin is saying there will be faster rate hikes, ie investors should buy USD. You might wonder why Goldman would risk their reputation by putting their name behind directions they're not trading, and the easy answer is that nobody remembers these bulletins, but everyone remembers the end of year profits of the bank. Bank mouthpieces aren't there to help the clients, they're there to help the bank)
https://preview.redd.it/8t2d8ujwzgc11.jpg?width=1024&format=pjpg&auto=webp&s=cd13c50961d8839b7553a489743ea3c8d478306d Dear members, Here is a summary in Q&A format for the impromptu session Paul, Jim and Roy did in an unofficial trade.io supporters group on 26 July 2018 which should allay most if not all fears and questions. Compliance & Documents Needed For Withdrawals: First and foremost, we're not fortune tellers, but from our experience with other regulated companies in similar asset classes to crypto, like FX, CFD's, etc. regulation is coming and in many places already here as we've all seen. We're choosing to get out in front of this, so that when it does happen and the companies that are being completely negligent in their compliance and regulatory duties are getting pinched, we're in a good position. With that said, though, we need to be cognizant of competition and not be too strict so that we can't compete with the cowboy exchanges in the near term. With that said, let's tackle the KYC issue upon withdrawal first. The process for withdrawals is very simple, and currently there is no tiered structure...meaning its the same process regardless if you want to withdrawal 1 satoshi or 1K BTC. This is in place for many reasons, as it will be easier to start onboarding clients once our fiat to crypto module is in place, and also grandfathering people into the LP. When withdrawing you'll need to fill out Form A if you are an individual, and Form A is simply saying the info you're providing is true and accurate and you're not a US citizen. Very standard. Then you provide an ID and Proof of Residence. NOTHING needs to be certified and NOTHING needs to be translated to English, as we have a fully staffed multilingual compliance department. Apologies if the instructions were confusing, as we're in the process of making some tweaks to make it less confusing. KYC/Withdrawal process is the minimum possible but still following regulatory guidelines. Q: R documents provided confidential ? A: 100% and securely stored. Q : Restricted countries? A : Only countries that are restricted are OFAC countries and the dangerous country known as the US. Q: also i wanted to confirm, as u have already partnered with selfkey , will there be a personal wallet for each user at your end??? or a combine wallet ?? will there be any fee the e walllet service A: Selfkey won't take place for some time, so put that to the side for now. Q : So maybe you shall delete current FAQ in profile section? Simply because it's too scary for all. A : We'll def beef it up to make it much clearer. Q: Before moving, Any different form for companies withdrawing ? And kyc A: Yes, good point, company withdrawals have a diff set of docs, that can be found within the guidelines, But still to my knowledge, company docs need not be certified or translated to English either. Q : Any different form for companies withdrawing ? A : Yes, good point, company withdrawals have a diff set of docs, that can be found within the guidelines But still to my knowledge, company docs need not be certified or translated to English either. Q : TIO price A : For better or worse, we all keep an eye on price of TIO. The employees and staff have TIO just like the TIOnauts....so we all have the same interests here. With that in mind, please remember there are nearly 90M TIO in circulation. The volume today (or most days for that matter) is 200K or a quarter of 1% of TIO in circulation. So while its natural to see, say a 5% decrease in price, you can't ignore this is taking place on literally no volume and off of trade.io exchange. The price is being dictated by bulls**t exchanges like BitForex which is complete hocus pocus. In order for TIO to get to the BNB levels we need liquidity and participants. We fully expect once we're up and running in full force on our exchange and TIO is limited to that, we'll be in good shape, in our opinion. Please note this is not a recommendation to buy or sell TIO, but rather pointing out some factual information. You wouldn't be able to sell 25K without cracking the price. In order for TIO to get to the BNB levels you need liquidity and participants. We fully expect once we're up and running in full force on our exchange and TIO is limited to that, we'll be in good shape. Q : Exchange A : It's not perfect, far from it. However, to say its not light years better than the beta which didn't even have working market orders at the time, and a fraction of features that are out now is simply inaccurate. I'll be happy to post what the demo beta looked like at launch. Obviously this isn't something to be proud of, but again, I do want to stick up for our devs just a little bit here as I know they are busting their butts. With that said, any remaining mods are being tended to around the clock and I'm personally updating everyone every 12 hours. For example, there were issues with saving presets, data issues, etc. have been rectified. Next on the list is BCH & USDT. Once bugs are fixed, then enhancements come that we've been tracking and logging. Dev's are tidying up any residual issues from launch, like BCH & USDT. Dev's btw, are more than 14 (as I saw that number somewhere), we now have over 30 devs around the globe. So rest assured there is not 1 dev in the basement making Pinnochio 🙂 On the to immediate do list after the tidying:
Adding additional users, of course
Adding the airdrop tokens
Adding additional tokens & blockchains
So those 3 items are on the the "get it done" list. Also will be working on margin trading as well which is going to be a key initiative (i.e. our friends at Bitmex.) Q : Why do we see trades on inactive assets ? A : We have algos firing in tiny trades to create charts for now. Until there is adequate flow, this is necessary to create clean looking charts. Q : So LP is technically already sort of functioning then? A : Sort of, its a bit more complicated than that. Q : When traded on only one exchange same prob. How can we say it s not being manipulated by the exchange itself Non tionauts might think that way.. A : Manipulate usually conotates a negative, not sure why having TIO only on trade.io would lead to a negative. Q : Won't ppl added in 2 batch miss LP start?] Tied in to this. Some people will surely complain about the 30 day no fee incentive. Claiming (and rightly so) they did not avail themselves of it since they were restricted A : We're def not committed to 30 days only, as you rightly said, it won't be fair, if we only open it up to say 5K people in the first 30 days. Q : when will there be bots placing and filling order book A : Once there is a larger number of users on the platform. Q : Set deadlines, dates for things to get done A : I will refrain from setting deadlines, as we haven't exactly been the greatest at meeting deadlines. Q : Adding additional users A : For adding additional users, its going to be a shoot first ask questions later tactic. So as we add, emails will go out, and we will alert the community. Its in everyones best interest that we allow the 20k+ on the waiting list and open it up to the masses ASAP though for 101 reasons. We're all on the same page there gang. Q : Will you have a public list on which features are being worked on? (Not deadlines, just a list for poeple to know what to expect next) A : I will have them in my twice daily updates (Paul). Q : LP A : As I have said earlier this week, we have been working closely with regulators to modify the LP which will maximize it's utility AND benefit to TIO hodlers. The current structure was based on the regulatory guidelines during our ICO and is expected to change in the very near future. (Roy) We have been working with regulators and jurisdictions with the goal of making the LP TIO only. As alluded to before, things are going well and if they continue this is the direction of the LP. Q : will there be a way to calculate taxes, or is it still soon to have an answer to that? A : Taxes are the responsibility of the LP participant. there are dozens of jurisdictions which have their own unique tax laws and requirements which would be an incredible undertaking to address for all our users. We have been approached with a few technology providers who are working with accounting firms to address this very issue. should we discover a convenient solution for our clients then of course we integrate a solution that is conveinent for all our clients to calculate/estimate their tax liabilities for their respective juridictions. Q : Can you give us estimated revenues on ICO consulting business? A : It is important to understand the ICO Consulting pricing model and revenue structure for this. Our consulting services require a small upfront engagement fee to onboard the client. The majority of the revenue is not collected or recognized until the ICO client has completed their ICO as the pricing model is performanced based much of the time on amount of funds raised and tokens issued. which means, revenue from consulting engagement is delayed 3-4 months until the ICO has ended for that consulting client. Q : Provided tiers remain as is, the price of TIO will most probably plateu at some point (I imagine pretty quickly). What's the plan with the tiers? Will these be dynamic at some point? A : Tiers will change as price of TIO changes, also with regards to TIO price plateauing, pls keep in mind that while the LP is one major utilization of TIO, there are others to keep TIO in demand. The LP will not be the sole dictator of price/demand of TIO. Q : With higher and higher TIO price the likelyhood is that less and less people will be interested to buy as "the train would have left the station" Imagine when TIO is $1, you'd need 2,500$ for every tier. Imagine if it reaches 10$ A : Again, the tier structure will remain "flexible" as to allow for the most participants possible while at the same type not diluting. The original plan to adjust the tier is based on the price and volume of TIO. We are contiuously monitoring this to make the LP fair and benficial to our community. Q : In my opinion, the model of having the LP with multiple currencies (not only TIO) is a much better one, as participants will have multiple diversified assets portofolio A : It's subjective really. I believe TIO only LP will boost the token much better. That's what we believe as well. Having someone contribute 1K BTC and getting profits from the LP doesn't help TIO at all, it only helps their pockets. Q : when do new version of calculator appear? A : Once the terms of service have been finalized and the official announcemnet has been made. Q : Will the daily profits automatically be included in the next (successive) days' calculations? Or will they be deposited in a separate wallet outside the LP A : Profit from today will be put in your wallet pro rata tomorrow, and so on. Q: please tell what will happen to leftover (for the person having teir lvl less than 100) A: trade.io keeps it. If the participants don't maximize their LP contribtutions that is their discretion. we are not forcing the min teir structure to be 25K as this would not be fair. We structured the LP to be fair for the masses and understand that not everyone can maximize their contribution. However, if LP participants do not max out their teir level we are a for profit company and any leftovers will help us spearhead additional initives and partnerships to increase the utility of TIO and benefit the community. There are direct and indirect benefits of the LP here. Q: Will the LP be available before the end of September? A: I refuse to provide a deadline...don't make me....:) We stink at hitting deadlines, its a tough biz in tech. We're busting our butts though to get the LP up and running. Q : well, just imagined that dynamic model and it seems that in that model rich become richer and poor get poorer. Am i wrong? A : With the flexibility for us to change the tiers we can control this better so that doesn't happen. The last thing we want is to go against our core values and placate to the whales. That's not why we created the LP. the LP was created to redistribute wealth in an easy an accessible way to the masses. What benefit does it give our community if only the rich become richer? Q : will there be an auto-reinvest option? A : Yes, 100%, like a money market sweep type mechanism. Q : On window for LP withdrawal A : You can opt out at any time, and it will be automatically removed at the next "roll over" similar to if you have traded FX with swaps. Q : The auto-reinvest will probably hit the tier limit right (unless you're in the top tier which is currently limitless). What happens then? A : You'll be automatically bumped to the next tier Q : will top tier be capped on revenues shared on the start, or this will be a possibility for the future? A : Top tier is capped in terms of % but not in terms of quantity, is that what you're asking? There has always been a cap to the %....its never been open ended. we are potentially paying out 55% of the LP, in actuality, not 50 Q : but we talked earlier that there will be an option to re-invest.. now given that the payouts will be done in other crypto.. will that option be able to convert let's say BTC into TIo and add to the LP automatically ?? if that's the case, then we''ll automatically move to the next tier.. set and forget A : We can have a bot that auto buys TIO, we can add that later to reinvest. A later feature would be the concept of "dust" to do this reinvestment. . Q : Will the daily profits automatically be included in the next (successive) days' calculations? Or will they be deposited in a separate wallet IP plan using dust later? A : They would need to be reinvested to move up. initially, this would have to be a bit manual, but we are planning a DRIP plan using dust later. Q : Non-TIO assets and caps A : For non TIO, there needs to be caps so people dont do 2500 TIO and US$1 million. When and if we allow non-TIO in LP. AND non-TIO will not have same multipliers, but as an enhancement. We are not trying to fuck you or game you in any way. Over time, we want to enable people to make money loaning BTC, ETH, USD, etc so other can go short. Returns on that will not be like TIO. We launch with TIO only, later we present the plan for other assets. On we have something we all like, we can move ahead. Q : LP top tier caps A : There will be a cap on top tier as well, above where our current largest outside investors are. Q : so Jim.. shifting gears a bit here, can you talk to us about the regulatory side of things.. where do we stand? what're the future plans with regulators? will TIO be listed as a utility token or a security? anything you can share with us in terms of regluations would be great.. I know there's a lot of confusion with the SEC right now, but any thoughts or undergoing discussions? A : All cryptos have different classifications in different jurisdictions. We are in Switzerland, where we are a utility. US might treat us diff, as they see everything as a security. Malta has another view. This applies to ALL cryptos, not just TIO, every jurisdiction is different. To say any token is a security or utility is not accurate. Dealing with customers for exchanges is a different regulatory issue. On the exchange regulatory side, we are working on multiple jurisdictions. HK, US, Malta, etc. In Malta, we have co setup already. Just waiting for app process to open. Q : Is there any chance that leverage trading will be added to the exchange? A : yes, on the priority list. Q : Once we lock our TIOs to the LP, adn after a few months we want to remove them (loss or profit does not matter) do we get back teh same ammount of TIOs even if the price of TIO increases? Lest say I put 25,000 TIO, with TIO price of $1, adn wehn I decide to take them off the price of TIO is 2$, do I still take 25,000 TIO back or 12,500 TIO ? A : Yes #TIO in = #TIO out unless the LP has a massive loss that wipes out our blanace sheet and TIO reserve which stands in front of you. Conclusion : We are going back to whipping the slaves in the salt mines.
From the famous TMC Bullpen leak, this is the one comment of substance that wasn't deleted for doxxing, so I figure it's safe enough to post as a separate entry. Darius JOHNSON (former CCP Sreegs) rants about CCP at length (8 September 2013): The conversation starts
(9:01:57 PM) darius_johnson: (8:53:29 PM) | ubastij: yeah that is a good point, though ccp does seem to prefer broad language for specific issues (9:02:05 PM) darius_johnson: I used broad language because I know what I'm doing (9:02:10 PM) darius_johnson: I"m pretty sure they're just morons
(9:09:59 PM) lockefox: oh, darius_johnson, I did mean to ask... there is a legitimate posting at CCP I was thinking of putting in for (data scientist). Terrible idea or terrible idea? (9:10:26 PM) ubastij: i applied to the multimedia designer position :smith: (9:10:36 PM) Angry Mustache: i thought they had dr. what's his face (9:10:40 PM) darius_johnson: up to you (9:10:43 PM) lockefox: Data team is expanding (9:10:54 PM) darius_johnson: honestly I don't know anyone at ccp who knows what they actually do there (9:11:02 PM) mynnna: eyjog seems to dual-hat as economist and head of the data team, yeah. (9:11:02 PM) darius_johnson: so maybe it's a great department (9:11:05 PM) lockefox: oh, then just like my job now :D (9:11:11 PM) ubastij: that works really well with me, i dont know what i do at my company (9:11:38 PM) darius_johnson: having a research department that works on one product and having nobody on that product having ever seen a deliverable for them is never a good thing
a bit later
(9:12:31 PM) darius_johnson: I have no idea what eyo does at CCP aside from talk to newspapers (9:12:43 PM) lockefox: Have my app all tied up in ribbons tonight.... was going to send it off tomorrow morning. Figured I have braindamage already (I do the work for fun/free already) (9:12:44 PM) darius_johnson: AWESOME (9:13:04 PM) lockefox: and it fits with my current experience professionally so my CL isn't: I <3 gamez! HIRE ME (9:13:28 PM) darius_johnson: Yeah if you want to live in Iceland go for it (9:13:31 PM) darius_johnson: they always seemed busy (9:13:51 PM) Angry Mustache: darius_johnson: botting is so bad on serenity that honest players can plex their accounts (9:14:04 PM) lockefox: if it's anything like my current data-human-centepeede job, I can understand why (9:14:27 PM) darius_johnson: Look I'm pretty sure Eyjo doesn't do a fucking thing at CCP I can't be more clear than that. (9:14:35 PM) darius_johnson: he certainly doesn't know anything about eve (9:14:47 PM) lockefox: figured that from his fanfest talks (9:14:47 PM) darius_johnson: So just keep that in mind (9:14:48 PM) mynnna: p sure you're wrong. (9:14:52 PM) mynnna: about not doing anything, anyway. (9:15:06 PM) ubastij: he gave some presentations at fanfest :colbert: (9:15:07 PM) mynnna: the development of you being wrong may be more recent than your leaving the company tho (9:15:16 PM) darius_johnson: If "sticking his fingers" into everything is "doing something" then ok. (9:15:22 PM) darius_johnson: But economically he was useless (9:15:25 PM) darius_johnson: see: forex (9:15:31 PM) darius_johnson: see: plex
couple of lines later, still about Dr.EyjoG
(9:16:18 PM) darius_johnson: mynnna: Maybe his guys got to work on stuff they wanted to do. He's really good at taking credit for things as well. (9:16:29 PM) mynnna: well why not (9:16:35 PM) mynnna: it works for the_mittani
much later to mynnna, when mynnna defends Dr.EyjoG again
(9:40:15 PM) darius_johnson: I was kind of close to this and MAY know a bit more than you about how CCP works (9:40:28 PM) Angry Mustache: mynnna: i think if you kept quiet, CCP would never notice (9:40:39 PM) darius_johnson: Every time the CSM's iin town Ejo struts around and preens (9:40:44 PM) darius_johnson: or there's a reporter about
(9:19:11 PM) darius_johnson: lockefox: You will be poor and Iceland blows (9:19:19 PM) darius_johnson: If you're married I honestly wouldn't do it (9:19:20 PM) lockefox: that's what I figured (9:19:24 PM) darius_johnson: It's for young people (9:19:36 PM) darius_johnson: There's a reason there's only like 1 American left at CCP (9:19:41 PM) darius_johnson: and very few foreignors (9:19:50 PM) ubastij: darius_johnson: were you in iceland or in the USA when you worked for CCP? (9:19:54 PM) darius_johnson: Iceland (9:20:02 PM) darius_johnson: and it was a terrible mistake (9:20:15 PM) darius_johnson: I mean there was a lot that was great about it (9:20:20 PM) Set's Chaos: I want to go to Iceland for Formula Offroad. (9:20:22 PM) ubastij: i've lived in "worst" countries so v0v (9:20:23 PM) darius_johnson: but nepotism is the culture
aside, on the same topic, later
(9:29:20 PM) darius_johnson: There's also only 2 managers at CCP who aren't icelandic!
aside, on the same topic, much later
(9:43:56 PM) darius_johnson: CCP has an english only policy as well (9:44:05 PM) darius_johnson: it's just gone lax (9:44:09 PM) ubastij: i'm just saying sometimes people don't realize its offputting (9:44:16 PM) ubastij: oh well then (9:44:18 PM) darius_johnson: Mainly because there's so few non icelanders left (9:44:20 PM) ubastij: yeah that sounds odd (9:44:34 PM) darius_johnson: when I got there ops was 75+% foreign (9:44:46 PM) darius_johnson: when I left there was one Canadian and he left like a week later (9:45:19 PM) darius_johnson: hard to have a policy like that in those cases
back to the main thread, later, about Soundwave leaving
(9:26:11 PM) darius_johnson: he hasn't left yet (9:26:17 PM) darius_johnson: it takes 3 months to leave a job in iceland (9:26:27 PM) Angry Mustache: what the fuck do you do in the meanwhile? (9:26:31 PM) Set's Chaos: Some kind of law, or just tradition? (9:26:35 PM) mynnna: like, [Seagull] sets the overall creative direction, but yeah [Soundwave] is lead designer or whatever. (9:26:36 PM) Angry Mustache: drink? (9:26:44 PM) darius_johnson: pretend to work while icelanders passive aggressively cockblock you until you just stop showing up
couple of lines later, still about Soundwave leaving
(9:27:06 PM) mynnna: i'unno, I'd like to hope that the "three months" thing means he continues to stick with things until winter is released. (9:27:22 PM) darius_johnson: CCP will not let that happen (9:27:41 PM) Angry Mustache: so he's marginalized between announcement and plane departing (9:27:49 PM) darius_johnson: I was (9:27:57 PM) darius_johnson: I have to presume it's teh same for everyone (9:28:43 PM) darius_johnson: they really don't take rejection well (9:28:48 PM) darius_johnson: and take every criticism personally
a bit later
(9:32:35 PM) lockefox: thank you for answering all the questions I had with your ranting :D (9:32:46 PM) darius_johnson: np (9:33:02 PM) darius_johnson: In retrospect I don't regret it honestly (9:33:03 PM) lockefox: it is actually helpful (9:33:10 PM) darius_johnson: but I think that has more to do with me than them
The company was started by Mike and Ryan, crypto-enthusiasts who saw problems in the marketplace when dealing in cryptos. They wanted an exchange that had a strong support team, legal visibility, operated somewhere where you could trust your money and had strong security - so in short they built it! We expect really big things for VoS and do indeed intend to be competitive with other exchanges, and yes, that does include building an app - we're currently exploring options in that field but we feel it crucial to take our time in doing that and put security first.
As for Charity we just feel its the right thing to do, I've always been a strong supporter of charities in my daily life and I brought that forward to VoS and the team agreed it made sense to gather up some funds for the Canadian Cancer Society given that April is their big fundraising month. On a grander scale I think it's important for cryptocurrencies to play a positive role in the world, let people know what we are all about, there is a lot of negative stigma about cryptos, some people say it's just kids "printing money", but it's a lot harder to say that when you're positively changing the world!
There's not any more pressure on us now than there was before - in fact I would say the MSB has taken some of the pressure off. We instead hold ourselves to the same laws and scrutiny as any financial institution would have to, and we feel this is best for our users and this sector as a whole. Getting the MSB let us know we had done everything right so far, and being in a new and evolving industry it's not always too clear if you're taking the right steps. The MSB is a checkmark that says "Hey you guys are as legitimate as you say you are" and we'll continue to hold ourselves to what ever rigorous standards we can (even when we don't need too). As far as external entities like Banks and Government - I think they are happy to see we have our MSB, I think it makes them more comfortable with the field in general and more willing to work with us. We recently met with our Member of Provincial Parliament and are setting up meetings with our Member of Parliament, and our Minister of Finance so they can see our operation here! The MPP certainly loved what we've got going!
Oh man if Timmies was a payment I don't think Canada would need cryptocurrencies at all! Timbits everywhere! We love Tim Hortons - we usually start our Monday's with group coffee and donuts! So we are never opposed Timmies if you are dropping by for a visit :P (Compliance disclaimer: Timmies is not a valid payment method, just a staple at all Canadian meetings)
We're always happy to take feedback on our charts, let us know what you want to see! As for Bitcoinwisdom, we've reached out to them multiple times, and added all the API support they need - just waiting on them to hopefully add us!
That's a pretty hard question to answer, and so I can't give you an official Vault of Satoshi answer but I can give you a personal opinion. So please note this is my two cents and nothing VoS official.
Personally I have some experience in day trading and that's the best way to make money in such markets - however that's the kind of situation where you have to take risks, actively watch the market and only ever trade with what you have to lose (not only to avoid loss but also to make sure you are willing to take the level of risk needed to make strong returns.) I'd highly recommend learning about Forex trading before you dive into this.
That being said the Bitcoin community still feels strongly that their currency value will rise, subject to merchant adoption, legal/political landscapes and a number of other factors but I can't really comment on that as it is a real challenge to predict; there is also a great deal of merit to a number of altcoins with unique value - but just make sure you research and make informed decisions. Don't take anyone's advice at face value (mine included) research and invest where you feel comfortable.
As for confidential information, if you have ever made a financial transaction on our website then we are required by law to keep a copy of that information. We take this responsibility very seriously, this information is encrypted and stored securely and is most certainly restricted access!
As for your other question, as Xangelo said, we are working on improving the layout of our coin to coin system to make it less complicated. Being one of the first major exchanges to offer any coin to any coin means there is going to have to be some tweaking while we find out what the marketplace likes! But we're always open to feedback!
If there is anything that years of video game playing has taught me it's always pick the bigger monster over a ton of little ones! A hundred duck sized horses could quite quickly surround and nip and kick from all angles. Where as I feel that whilst a horse-sized duck would be absolutely terrifying my odds are better as I can always keep it in front of me (and perhaps distract it with breadcrumbs)
That being said when we did work with them they were fantastic, very supportive, and loved our business; the local branch went to some great lengths to help with our unique challenges and we certainly hope we can work with them again in the future.
We're currently actually streamlining our financials and will have more announcements on this soon. New partnerships are opening up doors to new payment methods and currencies and we're excited about that.
We are a full reserve exchange. We do have our holdings divided between our hot and cold wallets and top our hot wallet as it gets low. But we do have all the BTC we claim to and are actively working on a Proof of Solvency tool to verify this to users.
Anything that has a unique value proposition and a strong community has the ability to go places but it's pretty hard to gauge these in advanced. We expect great things from the coins we've added/intend to add over the next month, which have all been announced.
Just because you have an account with us, does not mean that you would be barred from applying for a job.
Currently we don't have any openings but when we do we'll be posting them to our website and all current positions would be located at our Brantford office.
Our verification system was designed by our exec team and our compliance officer and aided by our legal team; and our support staff handle the verifications. (Wasn't sure what you meant by "verification team") as for requirements for any opening, we'll be sure to post them with up coming jobs! Thanks for your inquiry though!
The IRS statement actually doesn't change to much for us, FinCEN and other entities still consider it as currency - we're still actively looking into US options and moving forward on some with our legal team.
We have met with our Member of Provincial Parliament, are meeting with our Member of Parliament and are having a meeting with the Minister of Finance arranged to continue to advocate on behalf of cryptocurrency in Canada.
From everything we've been hearing, we're optimistic about Canada's role in the future of Cryptocurrency, people have been very forward thinking and accepting here!
I've actually had the pleasure of talking to some reps from the MintChip program - we kept a careful eye on it but I know that the Mint is selling it off to private enterprise. While it is in a different space from us we are always looking at the evolving landscape of digital money and what can be done to promote that in Canada.
While I don't think there is any direct partnership opportunities at this time it is always something on our radar and I think that MintChip was an interesting hardware development and it was great to see a federal institution being so forward thinking!
We currently do accept USD, we just can't accept it from US citizens or institutions.
That being said we are glad to announce we have identified our US re-entry strategy and are moving forward to launching in a few states first. We have no formal timeline on this yet, but it's a big step in the right direction.
We're actually working on adding an instant online Interac payment system, still no formal timeline but it's in the works. As for email transfers from BMO, BMO has come out and said they aren't working with businesses that operate in cryptocurrencies and so we can't accept funds from them on anything that would require us to have a BMO account or registration there. But, we can accept Pre-authorized debit and wire transfers from accounts there! Also feel free to email me about any concerns you may have about the level 3 account and I'll see if can't reassure you! ([email protected])
Ah yes, that is indeed a side-effect of the patch. While our systems weren't directly effected a load balance server hosted by Amazon would have been so to be better safe than sorry we've got them patching it and we are rolling over to new SSL certs! Always better safe than sorry!
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