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Effect of Central Bank swap lines on FOREX money pool?
Hello there, I wonder if anyone can help me answer this, since I found no clear answer online. When a central bank initiates currency swap lines with other central banks, does this happen in the general FOREX money pool? Or is this something happening outside of the general money pool? And even if it does not, can such announcements still affect currency pair ratios due to market sentiment?
For Canadian Clients of VantageFX (or Canadian Forex Traders in General)
As you likely already know, VantageFX will no longer service Canadians residents as of Nov 30th. This is unfortunate, since VantageFX has done an excellent job serving Canadian clients with higher leverage account options from a well regulated and trusted broker. Through contacts in the industry, we've been made aware of a new retail account offering at Pacific Union. Pacific Union has a good history of servicing institutional accounts and has only just started taking on retail clients, but they are positioned to service the Canadian clients in the space that VantageFX has left behind. Further, we were made aware of Pacific Union first by contacts at VantageFX, and then this recommendation was backed up by a trusted source who works closely with both companies. Again, to be very clear, this post isn't to give undue attention to some random broker.. we are providing this info because Pacific Union is a proper alternative for Canadian based traders that will no longer be serviced by VantageFX. On that note, I've updated the wiki to include Pacific Union Prime - https://puprime.com: Subreddit's Canadian Brokers Wiki Page The only major difference I have noticed so far is lacking MT5, but the word is that Pacific Union will be reviewing MT5 and other enhancements to their offing next quarter after they get past the launch of their retail offering. Key highlights from my perspective:
Up to 500:1 leverage available for Canadians, and while that much leverage may not be needed, even just 100:1 is decent compared to ~33:1 leverage set by IIROC with onshore brokers.
Client funds are segregated at an Australian bank, so you're getting some overlap of Aussie banking / regulatory rules and that's a huge plus when it comes to safety of funds and the finance side of things
No fee on credit card deposits / withdrawals, and no fee on Visa Debit and MasterCard Debit deposit / withdrawals. Transactions are completed within 30 minutes.
No fee on Interac e-Transfer deposits.
Remember, going offshore means you lose CIPF protection on funds, so a well vetted and properly regulated broker is a must! UPDATE #1: Oct 6th: Took this post off sticky and redacted some info as the connection between VantageFX and Pacific Union Prime was not "official". Pacific Union is still a great alternative / replacement for Canadian clients seeing higher leverage accounts and who are no longer serviced after VantageFX left Canada. UPDATE #2, Oct 8th: Adjusted this thread again to best reflect where Pacific Union Prime fits with VantageFX and former Canadian VantageFX cleints.
Forex Trading: a Beginner's Guide The forex market is the world's largest international currency trading market operating non-stop during the working week. Most forex trading is done by professionals such as bankers. Generally forex trading is done through a forex broker - but there is nothing to stop anyone trading currencies. Forex currency trading allows buyers and sellers to buy the currency they need for their business and sellers who have earned currency to exchange what they have for a more convenient currency. The world's largest banks dominate forex and according to a survey in The Wall Street Journal Europe, the ten most active traders who are engaged in forex trading account for almost 73% of trading volume. However, a sizeable proportion of the remainder of forex trading is speculative with traders building up an investment which they wish to liquidate at some stage for profit. While a currency may increase or decrease in value relative to a wide range of currencies, all forex trading transactions are based upon currency pairs. So, although the Euro may be 'strong' against a basket of currencies, traders will be trading in just one currency pair and may simply concern themselves with the Euro/US Dollar ( EUUSD) ratio. Changes in relative values of currencies may be gradual or triggered by specific events such as are unfolding at the time of writing this - the toxic debt crisis. Because the markets for currencies are global, the volumes traded every day are vast. For the large corporate investors, the great benefits of trading on Forex are:
Enormous liquidity - over $4 trillion per day, that's $4,000,000,000. This means that there's always someone ready to trade with you
Every one of the world's free currencies are traded - this means that you may trade the currency you want at any time
Twenty four - hour trading during the 5-day working week
Operations are global which mean that you can trade with any part of the world at any time
From the point of view of the smaller trader there's lots of benefits too, such as:
A rapidly-changing market - that's one which is always changing and offering the chance to make money
Very well developed mechanisms for controlling risk
Ability to go long or short - this means that you can make money either in rising or falling markets
Leverage trading - meaning that you can benefit from large-volume trading while having a relatively-low capital base
Lots of options for zero-commission trading
How the forex Market Works As forex is all about foreign exchange, all transactions are made up from a currency pair - say, for instance, the Euro and the US Dollar. The basic tool for trading forex is the exchange rate which is expressed as a ratio between the values of the two currencies such as EUUSD = 1.4086. This value, which is referred to as the 'forex rate' means that, at that particular time, one Euro would be worth 1.4086 US Dollars. This ratio is always expressed to 4 decimal places which means that you could see a forex rate of EUUSD = 1.4086 or EUUSD = 1.4087 but never EUUSD = 1.40865. The rightmost digit of this ratio is referred to as a 'pip'. So, a change from EUUSD = 1.4086 to EUUSD = 1.4088 would be referred to as a change of 2 pips. One pip, therefore is the smallest unit of trade. With the forex rate at EUUSD = 1.4086, an investor purchasing 1000 Euros using dollars would pay $1,408.60. If the forex rate then changed to EUUSD = 1.5020, the investor could sell their 1000 Euros for $1,502.00 and bank the $93.40 as profit. If this doesn't seem to be large amount to you, you have to put the sum into context. With a rising or falling market, the forex rate does not simply change in a uniform way but oscillates and profits can be taken many times per day as a rate oscillates around a trend. When you're expecting the value EUUSD to fall, you might trade the other way by selling Euros for dollars and buying then back when the forex rate has changed to your advantage. Is forex Risky? When you trade on forex as in any form of currency trading, you're in the business of currency speculation and it is just that - speculation. This means that there is some risk involved in forex currency trading as in any business but you might and should, take steps to minimise this. You can always set a limit to the downside of any trade, that means to define the maximum loss that you are prepared to accept if the market goes against you - and it will on occasions. The best insurance against losing your shirt on the forex market is to set out to understand what you're doing totally. Search the internet for a good forex trading tutorial and study it in detail- a bit of good forex education can go a long way!. When there's bits you don't understand, look for a good forex trading forum and ask lots and lots of questions. Many of the people who habitually answer your queries on this will have a good forex trading blog and this will probably not only give you answers to your questions but also provide lots of links to good sites. Be vigilant, however, watch out for forex trading scams. Don't be too quick to part with your money and investigate anything very well before you shell out any hard-earned! The forex Trading Systems While you may be right in being cautious about any forex trading system that's advertised, there are some good ones around. Most of them either utilise forex charts and by means of these, identify forex trading signals which tell the trader when to buy or sell. These signals will be made up of a particular change in a forex rate or a trend and these will have been devised by a forex trader who has studied long-term trends in the market so as to identify valid signals when they occur. Many of the systems will use forex trading software which identifies such signals from data inputs which are gathered automatically from market information sources. Some utilise automated forex trading software which can trigger trades automatically when the signals tell it to do so. If these sound too good to be true to you, look around for online forex trading systems which will allow you undertake some dummy trading to test them out. by doing this you can get some forex trading training by giving them a spin before you put real money on the table. How Much do you Need to Start off with? This is a bit of a 'How long is a piece of string?' question but there are ways for to be beginner to dip a toe into the water without needing a fortune to start with. The minimum trading size for most trades on forex is usually 100,000 units of any currency and this volume is referred to as a standard "lot". However, there are many firms which offer the facility to purchase in dramatically-smaller lots than this and a bit of internet searching will soon locate these. There's many adverts quoting only a couple of hundred dollars to get going! You will often see the term acciones trading forex and this is just a general term which covers the small guy trading forex. Small-scale trading facilities such as these are often called as forex mini trading. Where do You Start? The single most obvious answer is of course - on the internet! Online forex trading gives you direct access to the forex market and there's lots and lots of companies out there who are in business just to deal with you online. Be vigilant, do spend the time to get some good forex trading education, again this can be provided online and set up your dummy account to trade before you attempt to go live. If you take care and take your time, there's no reason why you shouldn't be successful in forex trading so, have patience and stick at it!
New to forex, pretty basic understanding in general of economics
So im new to forex, I nean its a pretty simple system trade one value for another value. I'm interested in the fundamentals. I wanna start to get to understand the back ends of it all i guess. Personally im interested in possibly joining or creating a discord with only a few individuals that are also interested in learning together or already trade and could lend eachother helping hands through the process to hopefully lead go a higher success rate. Im not looking for classes or a mentor but more or less just some people that are dilgent in what they do and as we go through this process can identify and record things they've encountered along they way that will help lead to success. Not trying to get rich quick but thatd be cool too lol. Looking to building multiple streams of income and learn.
Help you to understand key words in Forex (Leverage ect.)
Help you understand how to use various indicators and tools
Help you to read charts/ candles the correct way
Help you understand how to analyse market structure
Help you manage your risk
Help you understand technical and fundamental aspects of Forex
Help you Understand chart patterns
Help you to set price alerts and plan ahead
Help you to enter and exit positions
Help you to avoid terrible and overused technical indicators
Help you turn terrible indicators into highly useful indicators
Help you to trade MY exact strategy (OBV Divergence trading)
Help you create a trading plan that is perfect for YOU and YOUR financial situation
HOW TO SPOT FOREX SCAMMERS/ FAKE FOREX GURUS -
Only posting profits and not losses
Showing expensive cars etc.
Not giving you the material to improve your trading skills and understanding
Promoting a get rich quick mentality
offer Forex signals for payment
TRADING MYTHS -
'Trading is gambling'
'Higher leverage = higher profits'
'More indicators are better for you'
'it's not easy to trade'
'You need a large capital'
DEMO ACCOUNTS -
We will give you assistance on creating a realistic and completely free demo account in order for you to practice, many believe you shouldn't use a demo account for more than 6 months as it does not give you a real understanding of the market as there is no emotional fear of losing money, however, i strongly recommend using the demo account until you are confident and comfortable to trade the real market. (I traded a demo account for 2 years before i felt comfortable enough to live trade, however i did not have good learning material to speed up my progress)
WHEN AM I READY TO TRADE? -
Are you consistent with you profits?
Can you trade without being greedy and scared?
Can you afford to lose money to gain knowledge and money?
Can you manage your risk properly?
are you enthusiastic about trading?
Do you recognise the importance of your trading plan?
Do you have a positive attitude?
The main reason for this Subreddit is to educate you on up to date tips, strategies and advice. Please understand that we are NOT your financial adviser and we are NOT here to tell you when to make trades. All of our trade signals are from correct and professional technical and fundamental analysis. No trading strategy has a 100% win rate and we hold no responsibility for any losses you may encounter. *FOLLOW OUR TRADES AT YOUR OWN RISK* Stocks, Options, Binary options, Forex and Future trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the stock, binary options or futures markets. Don't trade with money you can't afford to lose especially with leveraged instruments such as binary options trading, futures trading or Forex trading. This Subreddit is not an indication to Buy/Sell stocks, futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this Subreddit. The past performance of any trading system or methodology is not necessarily indicative of future results. You could lose all of your money fast due too: poor market trading conditions, mechanical error, emotional induced errors, news surprises and earnings releases just as well as grow your profits incredibly due to the same reasons.
Trading effectively in the Forex advertise is likely one of the most gainful occupations on the planet. Likewise, there is not at all like it. Yet, tragically, very few administrators arrive at that objective. Also, the motivation behind why they don't arrive at their objectives fluctuates. Some are pulled in to the Forex advertise for inappropriate reasons (for example searching for income sans work). Some others go to the market as of now with a losing mindset, so it won't be long until they void their records, and so on. In the event that Forex trading rules are pursued, at that point, these slip-ups can be maintained a strategic distance from. Generally, Forex trading is a fantastic strategy for profiting sagaciously.
Forex Trading Does Not Yield 100% Result:
Some fledgling administrators (and one encountered other) go to the market searching for the sacred goal of trading: the framework that hits every one of the signals. There is no framework that hits 100% of the time. This is one of the most widely recognized trading botches.
Letting Losses Grow To Get Profit After Some Days:
By a wide margin, the most well-known mix-up when putting resources into Forex is to hold losing positions for quite a while and to close winning positions right on time (out of dread). Despite the fact that there is a more noteworthy record of winning positions, the washouts, albeit less, will speak to a more noteworthy measure of cash. The way to restrain misfortunes is to pursue a task plan that thinks about the dangers and consistently utilize a stop misfortune. Nobody will be correct constantly. The sooner you acknowledge that having little misfortunes is a piece of every day, the additional time you should re-center and get winning exchanges.
Working Without a Plan:
Opening a situation without a solid arrangement is a solicitation to the market to take our cash. In the event that the value moves against the position and you don't have an arrangement, you won't know with assurance when to cut the misfortunes. On the off chance that the value moves in support of us, we won't realize when to gather the benefits. Working with an arrangement is maybe the most significant advance that a Forex dealer can perform since it attempts to wipe out the passionate part with regards to settling on trading choices.
Working Without a Stop-Loss:
Working without a stop misfortune is additionally a catastrophe waiting to happen. This is the manner by which a little and sensible misfortune can wind up exploding a whole record. Utilizing a stop misfortune is a fundamental piece of a well-made arrangement that has explicit and practical desires dependent on past examination and research. The stop misfortune demonstrates when a specific technique is discredited. As per the Forex trading procedure, merchants shouldn't work without a stop-misfortune.
Moving a Stop-Loss:
Moving the stop misfortune to abstain from being removed from the position is nearly equivalent to contributing without a stop misfortune by any means.
Fruitful money merchants do no overinvest. In the event that you have opened situations consistently, you are additionally always presented to advertise dangers. It is smarter to concentrate on finding ideal and solid chances, where the hazard is lower and where a decidedly ready arrangement and methodology can be applied. Having too many open situations simultaneously means that you presumably don't have a decent arrangement of activities and huge numbers of them are opening instinctually without control.
What are your views on Bitcoin as the next best haven to make profits?
It has been over a year since I started trading Bitcoins, and the profits have been spectacular to say the least. I had never ventured into mainstream trading, so it would be okay to call me a novice. But I still want to know how general forex traders (with general, I mean anybody who trades fiats) interpret Bitcoin and its future as a profitable investment. I currently hold around 76.89 BTC, and looking to purchase 100 more, specifically for long term investment. What's your views on making such an investment? Is it too risky?
What do you guys think the pound will say in different UK general election scenarios? [Forex]
I'm positioning for a 10+ seat Tory majority to push the pound up to $1.35. The polls all seem to think the Tories have a comfortable lead and we saw a similar spike when May announced her deal. A hung parliament seems unlikely, and will make the pound very volatile, even if long term it leads to the UK staying in the EU. Still expect a fall coming next year as the UK-EU trade deal deadline looms and a no deal is back on the table. It'd be wise to sell if we see anything above $1.40
I'm 16 have a lot of extra free time and I'll have saved up about $1,000 by the end of this semester. I want a learning experience what are some options?
I've fought with myself back and forth over different ideas about how I can try to make money and learn while doing it (just to highlight a few I've had some like dropshipping, ecomm in general, forex trading, a computer repair store, social media marketting, seo, starting a blog) I know some of those don't fall under entrepreneurship and that is because entrepreneurship isn't the only option I've been looking at so far though, to me, it's the most interesting subject. I dabble in programming and computer science and plan on going to college for computer science and taking a few classes in entrepreneurship because I plan on going the startup self-employed route eventually. ( I choose CompSci because I loved computers and I love solving issues, programming as well fascinates me. And mostly because I enjoy the untaken path, and while CompSci is a very famous popular major it's a less taken route for entrepreneurs in my eyes anyways so I want to give it a try.) And I believe, as do many others, that without-a-doubt the best way to learn the ins and outs of entrepreneurship is trying and just getting out there. So I have a bit of capital I just lack a proper guidance in the best direction I should take. Sure I do want to make money out of this (who doesnt want to make money) but in the end I want an opportunity to learn. (though there's a difference between learning through failure and throwing your money down a drain and I'm making sure to draw a fine line there) Though it may not be a good practice, I'm going to give what I believe is my best idea thus far: I wanted to start a website where college kids can sell and trade textbooks both through shipping and through a filter system where you can only see the listing from people at your college/university and you can schedule a meetup spot at a safe place on that college campus. So it'd be both easier and cheaper to buy and sell your used college textbooks. I don't really know a good starting point for this and it seems a lot to tackle by myself which has turned me away but this seems like something I could do for fairly cheap. (maybe even buy my sister who is in college textbooks off of her and put them up there as the first listings lol)
an easy way for us citizens to become eu citizens and trade under eu regulation (link in text)
http://www.foreignaffairs.com/articles/142825/eric-b-schnuree-stonia-and-the-future-of-the-cyberstate article about how estonia is offering free e-residency/citizenship to anyone interested. a type of state capitalism trying to use the possibilities of the internet to attract capital to the country. found the link in /futurology and thought perhaps it could help us citizens having problems with new margin regulations. i am not sophisticated enough to understand exactly what it means to become an e-resident but could be worthwhile looking into. also if anyone understands better than me the possible positive implications it could have for the general forex trader I would be happy to have some feedback.
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