caveatFx

We just need right broker. I believe slippage can be horrible and I have faced it recently with ForexMart, as it was horrible for me with their service which made me lose a lot. So, it is absolutely vital that we avoid such broker.

Thanks for sharing could you describe your trading trouble with details, so we won't make same mistakes and improve together

Can you guys give me links on trustful BTC CFD brokers which allow deposits and withdrawals with BTC?

Hotforex, Tickmill these are brokers I tried to trade. Same 1:5 leverage, other conditions are also quite similar. Hotforex also supports BTC in/out, good for you if you don't want to deal with banks, their shitty commissions.

Good luck yo :)

Oil production in Iran will reach 3.8 million barrels per day over the next few days said to Bloomberg Roknoddin Javadi, deputy oil minister and managing director of state-owned National Iranian Oil Company. It is obvious that Iran’s intention to return to pre-sanctions levels of oil production at a rate of about 4 million barrels per day remain quite serious.

After regaining market share, which the country controlled before the introduction of international sanctions, Iran is ready to discuss joint actions in the oil market with other OPEC members added Rokneddin Javadi. As reported by Bloomberg, Iran may join OPEC quota in one or two months after increasing output to pre-sanctions level of oil production and exports.

In April Iran exported an average of 2.1 million barrels of oil per day the deputy minister noted.

Crude futures of Brent and WTI sorts are trading in positive territory on the background of disruption in oil supplies due to forest fires in Canada and the escalation of military clashes in Libya but is moved away from session highs.

The boost of production in Iran is a matter for worries for one of its major export competitors in the Middle East – Saudi Arabia. As it became known yesterday crude output in Saudi Arabia has already reached 10.15 million barrels per day.

The fire which led to the evacuation of all 88,000 dwellers of the oil center – Fort McMurray in Canada and destroyed 1,600 buildings, now threatens local airport and southern part of the city, officials said on Wednesday.

Some areas of the city in the southeast of Alberta, in the heart of Canada’s oil sands region, already lay in ruins.

As we move to the south of the fire, authorities announced a mandatory evacuation of the settlements, located 50 kilometers south of Fort McMurray.

According to officials, there is no victims of the calamity, but it is known of at least one car accident in the course of the evacuation.

A huge cloud of black smoke can be seen at a distance of more than 60 kilometers from the city, the fire can not stop the fire.

“We may lose a significant part of the city”, – said Scott Long, a spokesman for Emergency Management Agency Alberta.

The main oil facilities are located outside the fire spread, however, companies are trying to help and evacuate employees and protect conduits, which led to a cut in production.

Premier of Alberta Rachel Notley said that the Fort McMurray destroyed about 1,600 buildings. The province declared a state of emergency. Canadian Prime Minister Justin Trudeau said that the military could send planes into the city, if necessary. International Airport Fort McMurray suspended all commercial flights.

The consequences for oil production are still unclear, but the Canadian company Suncor Energy said on Wednesday the suspension of work on its core deposit on oil sands may result in a cut of 350,000 barrels/day in output. Production on the rest of oil fields was decreased as well.Oil futures gained about three percents on supply outages from Canada, WTI rose to $45/barrel, while Brent floats near $45.50/barrel.

source : http://*******/1T2wDs2

I would like to start a discussion about Corrfx.com.... They are a specialty broker who also teach their trading methods based on Correlation trading. Usually this involves tracking highly correlated forex pairs but Corrfx takes it even further and tracks highly correlated equity indexes. For example , the SP500 and the Nasdaq (CFD's) usually trade in sync however almost daily they will deviate from each other. Once they deviate beyond what is considered their standard deviation according to the indicators (Corrfx uses their own indicators and shares them with clients once they deposit), a trade signal will be given to take an opposite position in each index, thus looking for a net profit once the two indexes trade back into correlation.:D

 

https://www.facebook.com/corrfx

never heard,and looks like they are the new kid in this industry

let me see , wanna compare it with my provious broker, tickmill and vipromarkets

What is Forex Trading and how it works?

FOREX (abbr. from Foreign Exchange) in the broad sense – an aggregate of exchange operations between large banks and other financial institutions like pension funds, insurance companies and transnational corporations. The needs to carry out such exchanges can be different – banks and companies keep reserves in different currencies for their operational needs, hedge funds buy and sell currencies to earn on fluctuations of exchange rates.

The daily volume of transactions on Forex market is incredibly high – about $5.3 trillion per day in April 2013. It greatly exceeds the turnover on stock markets – for example daily trading value of biggest stock exchange NYSE averaged only $169 billions in 2013.

Let’s take a glance on some useful statistics related to Forex market:

http://brokerarena.com/wp-content/uploads/2016/01/Screen-Shot-2016-02-02-at-8.36.36-PM.png

As we can notice, USD and EURO represent most traded currencies in the world with about 3/4 of daily trading volume.

http://brokerarena.com/wp-content/uploads/2016/01/Screen-Shot-2016-02-02-at-8.35.51-PM.png

US and European banks seems to be the biggest currency traders.

http://brokerarena.com/wp-content/uploads/2016/01/Screen-Shot-2016-02-02-at-8.35.03-PM.png

Daily trading volume has been steadily growing throughout the given period with a dip in 2001 caused by financial crisis in 1998.

So, when we hear something like “Euro became weaker against Dollar” or “Japanese Yen appreciated against Australian Dollar” it invites reasonable question: What makes exchange rates fluctuate? To answer this question lets consider the state as a big company and national currency as its share. As logic suggests the better company performance the more value receives its shares. So basically, changes in exchange rates reflect how one company (country) outdo in performance other company (other country).

There are tons of domestic circumstances that leave impact on a country’s economy. By and large we can divide them in two categories: Internal and External. All of them in their underlying principle contain the theory of Supply and Demand. Macroeconomic changes, geopolitical events, natural disasters can be referred to domestic factors, while changes in commodity prices (especially energy), increasing or decreasing supply or demand for certain goods can be considered as external.

Here are two schemes that can help to understand the impact of both internal and external factors on national currency:

For Internal:

Russian Central bank decides to increase interest rate for Ruble => borrowing costs of Ruble increase (money “become more expensive”) => Russians borrow less and spend less, Foreign Investors tend to buy Ruble as it ensures more return => Amount of this currency on forex market decrease (thus the demand for it increase) => the value of Ruble increase.

For external:

China Oil consumption fall => Supply doesn’t change so world market gets oversupplied with Oil=> Price on Oil declines => Oil return for exporters like Russia drops => Russian economy deteriorates => Ruble becomes cheaper.

Of course these two basic examples demonstrate clearly how currencies are affected by certain circumstances and describe fluctuations in their plain way, but given that the number of factors can reach thousands or millions its impossible to predict how the exchange rate will change in next 5 minutes (obviously current computational capacities are not enough to collect and analyze all information that may have impact on certain currency). Its essential to know that important economic and political events form only long-term trends in exchange rates – the wave that can form weeks or months or even years, consisting of numerous smaller waves.

Alright, seems we’ve dealt with a notion of exchange rate fluctuations. Let’s take a look under the hood.

As you may already have guessed, forex market operates 24/5 (banks don’t work during weekends). 24/5 means that exchange rates are continuously floating from Monday to Friday. The continuity is achieved by Trading sessions, which times of operations overlap each other. Look at the picture below to get a clue on how trading sessions work:

London session is considered biggest by trading volume, second is New-York session. Asian and Australian sessions feature with lowered trading activity (amount of transactions). The overlap of London and New-York session is considered to be most active time of trading. In trading terms it means “time of best market liquidity”.

That’s it for today. In next article we’ll get insight into how retail forex trading works and how access to biggest market in the world can be served to any trading newbie.

Source :

http://bit_(dot)_ly/1WfpnM6

Hello,

 

Ive been learning to trade for 4 months now. My manual trading account is up by 14.8% and the one that I use ea's is up by 6%. I think im doing quite well, but what do u, traders, think, is it time for me to open a live account, or I've might just been lucky enough to be profitable?

 

Best Regards

if you wanna try live account its fine. so i think its depend of how much amoount that you can afford to lose.

usually i suggest people to open a live account with deposit less than $300

however if only can afford less, like $25 or more and wanna have best trading conditions, i think tickmill or vipromarkets are suitable becaise both of them apllied $25 min deposit with spreads start from 0

http://brokerarena.com/wp-content/uploads/2016/01/Screen-Shot-2016-02-08-at-2.42.34-PM.png

currencies are traded in PAIRS. Not in triads, quartets etc. Symbols like EUR/USD or USD/JPY mean two currencies that “compete” against each other – EUR/USD is EURO vs US Dollar, USD/JPY is US Dollar vs Japanese Yen. When you see a message that EUR/USD fell by 1% it means that EUR value decreased against USD by 1% or USD appreciated against EUR by 1%. It can sound a bit confusing so lets put it simple, considering on the of currencies as a “good”:

http://brokerarena.com/wp-content/uploads/2016/01/Screen-Shot-2016-02-08-at-2.42.34-PM-300x159.png

A currency that comes before “/” is called “base currency” (good), currency that comes after “/” is called “quote currency” (money you pay for the good) and the number in right side is “exchange rate”. In our case EUR/USD=1.10 means that if we buy 1 EUR we pay 1.10 Dollars, if we sell 1 EUR we get 1.10 Dollars.

Consider other examples:

USD/JPY = 118.20 – to buy 1 Dollar we pay 118.20 Japanese Yens, if we sell 1 Dollar we get 118.20 Yens.

EUR/GBP= 0.77 to buy 1 Euro we pay 0.77 pounds.

So what “EUR/USD rose from 1.10 to 1.12” exactly mean? It means that to buy 1 Euro we now need more Dollars (1.12 USD instead 1.10 USD). In other words we need to spend more Dollars to buy Euros or Euro became more expensive that USD.

When exchange rate rise = base currency become more expensive or quote currency become cheaper.

When exchange rate drops = base currency become cheaper or quote currency become more expensive.

Hope its clear. Moving further.

Now we understand which exact changes mean fluctuations in exchange rate. So if we expect that exchange rate of EUR/USD will rise how to profit from it?

The answer is – we should buy EUR/USD. When we make such transaction it means that we buy EUR and pay with USD for it. And vice versa, when we sell EUR/USD it means that we sell EUR and get USD instead.

Here are simplified calculations of what happens when you try to speculate on currencies:

For example you think that exchange rate of EUR/USD will rise from 1.10 to 1.20. You buy 100 000 EUR paying 110 000 USD for it. Then exchange rate rises from 1.10 to 1.20 and you execute reverse transaction: Sell your 100 000 EUR and get 120 000 USD instead. Net profit is 10 000 USD.

But what happens if exchange rate falls short of your expectations and drop from 1.10 to 1.00? You buy 100 000 EUR for 110 000 USD but when making reverse transaction when exchange rate dropped to 1.00 you get back only 100 000 USD. Net loss is 10 000 USD.

Here we have important conclusion: Any trade consists of two transactions, where second transaction is reverse to first.

We already know such currency pairs like EUR/USD, USD/JPY, AUD/USD. But how much pairs there are and what pairs are best to trade? Let me try to answer this questions.

Trading is possible providing that there is a counterparty willing to sell you what you want to buy and buy what you want to sell, i.e. make an exchange with you. When you want to sell EUR/USD there should be a counterparty willing to buy EUR/USD in the same amount. Same for reverse transaction. It is quite logical that the more members willing to exchange the better for every member as they can complete exchanges faster. Its called Liquidity. The bigger is Supply and Demand the better is liquidity. Did you guess which currency pair is most liquid? Of course it is EUR/USD. It means that if you decide to buy 10 000 000 EUR for USD at current exchange rate I’m pretty sure you can do that almost Instantly. But if you try to exchange 10 Million Dollars for example to Mexican Pesos it should take some more time because there’s less Supply of Pesos and probably less demand for such amount of Dollars (less number of market participants). In this case, it is said market has thin liquidity.

Returning to our main question which pairs are popular in forex and why are they and not some other:

The answer is: most popular pairs are those with best liquidity. They’re split into groups:

Majors:

EUR/USD, USD/JPY, GBP/USD, USD/CHF, AUD/USD, USD/CAD. Why are they? Because United States, European Union, Japan, Switzerland, Canada, Australia are biggest economies in the world thus has biggest Supply and Demand on their national currencies on foreign exchange market.

Next are cross pairs:

EUR/CHF, EUR/JPY, NZD/JPY, EUR/GBP, CAD/JPY. These are just some of them. Why are they called cross pairs? Because these are major currencies but not quoted in Dollar. They are less liquid than majors but enough to trade with large positions (200 000, 500 000 currency units or even more).

And last are minor pairs or so called exotics:

USD/RUB, USD/TRY, USD/NOK, USD/MXN, USD/ZAR, USD/SGD. Most of them has USD as second currency because only with USD they have adequate liquidity to make trading possible.

Okay, now we know that there are three types of currency pairs and they all have different liquidity. But what pair to choose for trading?

Actually the question is incorrect :). Quick glance may suggest that best pair to choose is EUR/USD or other majors. But its not absolutely true. For example USD/MXN may be more preferable for you because you’re living in Mexico and know your national currency – Mexican Peso (MXN) better than international traders. You can get quicker access to local news, events, government decision that may affect currency and thus USD/MXN exchange rate and turn it into your favor. In trading terminology its called “EDGE”. Having an edge means know something that other traders may don’t know and what you can use to predict the moves of certain currency. Trading knowledge, access to information and quick response are three main constituents of consistent profitable trading.

In next lesson we will study what are transactions costs – Spreads and commissions and how they connected to liquidity of a pair. We will also find out what are other expenses you can incur during your trading.

Thanks you for reading this article.

Source : http://brokerarena.com/education/how-currencies-are-traded-in-forex/

Deposit Small amount before NFP

and taking advantages from this volatile news .

Sell USDCHF and CADCHF because in TF H1 already formed continue pattern.

so lets hoping its valid

Finally got margin called

and based on FXBlue statement

My total deposit/WD in Tickmill via skrill or fasapay are :

Deposit : $178.37

WD : $221.34

WD - Deposit = $42,97

so with my total net WD , i can say, i am still losing my money.

But no problem.

I cosider this as my learning experience .

and i learned in hard way, in the next trades, i better do not touch indices , because if i trade with minimum amount i better trade WTI because even WTI used margin is relatively big because it is using 1:100 leverage, but WTI smallest lot is cent pips . so it is better for money management

This journal will be my documentary repot so i can study my mistakes and become a better trader in near futures

and like arnold said in terminator.

" I'll be back"

The End of Part 1

Try To buy NZDCHF

Finaly i am back trading forex, because indices trading is very painful.

For smallest lot in my broker, smallest used margin is in JP225 , it is around $14-$15. not to mention, index have very wild movement.

need bigger balance sigh

and looks like they applied 1:100 leverage in all indices instrument

Sell EURGBP

god, I hate this Inverted Cup and handle Pattern.

Example of Cup and handle Pattern in WTI/CL

today I have a lot of work to do and only now I have time to update my journal

And today , we only have one important USD news

today i do some multiple entries

Buy HK50 (Hanseng )

Reasojn : engulfing on m15

Indices trading have different sensation, although the spreads are small, but we can quickly experience a plus or minus in one single moves

Closed profit +40$

and after that i bought GBPUSD and sold EURGBP

Got tight spread , and closed by my trailing stop

And i now i try another trading instruments provide by Tickmill, which is JPY225 (Nikkei)and EURJPY

Reason : engulfing on MA

I hope NZDUSD can break the upper triangle formed in daily timeframe.

opened NZDUSD trades, got tight spreads, with tight pair movement

-_-

Finally i got Margin Call

Well redeposit my account and looking for signals with another trading instrument provided by my Broker,and i decided to trade the indices

After tried their demo to find out how much margin used for any indices

i decided to trade the US500 index (SPX500 index)

Reason :

1.M pattern

2.Engulfing

3.Their spreads looks lower than another index (40 pips, i think its like 4 pips in forex)

Sell 1 @ 1917.20

sell 2 @1906.20

Trailing Stop loss @ 1911.20

My worst scenario : i think am only reach BEP

Still hold my Sell EURJPY, move EURJPY stoploss into trailing stop mode

Sell EURGBP , because at M5 , candle broke out the EMA 12,and met major resistance. put 10.0 pips stoploss,

got good spreads on EURGBP, 0.6-0.7 pips for EURGBP , not bad for cross pair

today we have EURO Zone news, perhaps this news could help my trade

Got Drawdown in my ECN Pro Account

but no problem. OverAll i am still in profit T_T

[spoiler=EURJPY]

Sell EURJPY

Reason : Price / buyer, are not too dominant and can't maintain their power above EMA 12

SL Scalping

TP longterm

Yesterday i made +$55 profit and request for Withdrawal

,

 

Request @ 18:12

 

http://s17.postimg.org/le30k0shr/WDrequest.png

 

Processed @ 21:12 GMT+7

 

 

 

Buy CADJPY

Chart CADJPY

 

Because CADJPY spreads are low, i can trade this pair

Reason buy CADJPY : Strong Support area

 

got 1 pip spreads

 

before GBP News, i tried to catch the trend

 

My fokus today is CADJPY, to find out the best price to buy CADJPY

And if we compare USDCAD and CADJPY , why i buy CADJPY because few days ago, USDCAD had strong bearish trend ,

and tonight we have crude oil inventories news and as far as i know , OIL and CAD have strong correlation

i starts my day with opened trades for several pairs

Sell USDCHF @ 0.98823 SL @ 0.99073 TP @0.98190

Sell Stop USDCHF @ 0.98573 SL @ 0.98823 TP @ 0.98190

Sell AUDCAD @ 0.98449 SL @ 0.98849 TP @ 0.97449

Sell stop AUDCAD @ 0.98049 SL @ 0.98449 TP @ 0.97449

Sell EURAUD @ 1.57448 SL @ 1.57848 TP @ 1.54314

Sell stop EURAUD @ 1.56813 SL @ 1.57448 TP @ 1.54314

Reason :

 

Sell USDCHF

1. I saw Tower pattern ,

2.confirmed by engulfing at right leg

3.left leg already formed 2 waves

 

 

 

My reason why i opened Sell AUDCAD is simple , Because ad Daily Timeframe , my EMA will cross, and engulfing it self alreay formed. i just need today confirmation

 

For EUAUD , i use it as hedge instrument against USDCHF and AUDCAD

not bad. got good spreads when i entered this 3 trades

busy all days, and just updated my journal after i finished all my business thing

opened Sell GBPJPY dan Sell GBPUSD

 

 

My reason sell both pairs are they had big engulfing on MA cross (look at magenta rectangle)

and i am positive , when i post issue about Brexit, it may happen in near future.

 

Closed with profit

and after some drawdowns with my account in 8 days, finally i can banking some nice profit into my wallet

now i am Breakeven and in profit

Requested $45 WD +$45 at 20.30 GMT+7

Recieved 20.42 in same day.

my target : to WD $1000 from $50

is it possible?dunno, let us see, how long i can maintain my trading account. and consistantly banking some profits into my wallet

This Week High Impact News

Time using GMT+7

Mon 15 Feb :

21:00 : ECB President Draghi Speaks

 

Tue 16 Feb :

4:45 : NZDRetail Sales q/q

7:30 : AUD Monetary Policy Meeting Minutes

9:00 : NZD Inflation Expectations q/q

Tentative : German Constitutional Court Ruling

16:30 :GBP CPI y/y

17:00 : German ZEW Economic Sentiment

20.30 : Cad Manufacturing Sales m/m

Tentative: NZD GDT Price Index

 

Wed 17Feb 2016 :

16.30 : GBP Average Earnings Index 3m/y

16.30 : GBP Claimant Count Change

20.30 : USD Building Permits

20.30 : USD PPI m/m

 

Thu 18 Feb 2016

4:45 : NZD PPI Input q/q

7.30 : AUD Employment Change

7.30 : Unemployment Rate

20.30 : USD Philly Fed Manufacturing Index

20.30 : Unemployment Claims

23.00 : Crude Oil inventories > Spesial , news khusus oil

 

Fri 19Feb 2016

16.30 : GBP Retail Sales m/m

20.30 : CAD Core CPI m/m

20.30 : CAD Core Retail Sales m/m

20.30 : USD CPI m/m

20.30 : Core CPI m/m

opened 2 trades, Sell EURAUD and sell EURNZD

Sell EURAUD

Reasons :

1.Engulfing on MA at H1 timeframe

2. RSI H4 formed Hns, even now, RSI h4 already reach RSI support, but i will waiting next RSI support for exit

Traling stop activated at +100.0 pips

Sell EURNZD

Reason :

1. Engulfing confirmed by inverted hammer which is hanging on MA Cross

2.RSI H4 Formed HNS dan maybe will try to break the RSI support.

Trailing stop at +1

not bad . got 2.5 pips spreads with Sell EURAUD and

Got 3 pips spreads with EURNZD.

Updated my Journal, it is hard to reach master trader level

but i must learn and enjoy this process

still have floating order, Sell EURUSD

 

 

Reason, look at the rectangle. my reason is , Engulfing on MA, plus candle break out EMA 12 at H4, and entered the market and got 0.2 spreads . very nice

 

Closed Buy GBPUSD

 

Entered the market At M5 (and got spreads under 1 pip) because engulfing on MA( look at the rectangle)

and i got good setup for sell at NZDUSD

If NU Closed and stay like this at 12 febuary 2015, 20.00 GMT +7

i will consider to sell NZDUSD

is it me or myfxbook always have errors when i wanna upload my trading history.

Whatever, moved to FXBlue.

http://www.fxblue.com/users/ijak

Got margin called and deposited another $25

Today Open trade

Sell GBPUSD

Sell GBPCHF

Got signals from M5

Reason for Sell GU , Fake confirmations candle on M5, and turn the candle into Continuation signals, RSI break neckline

Reason For sell GBPCHF

Got RSI break signal with m5 , plus confirmations candle pattern

Got around 3-4 pips spread for GBPCHF , and around 1 pips spreads on GBPUSD

Took a peak on news, and whew, china still on New year holiday,

But today , Yellen would have a testimony again , i hope yellen could give us clues about The Feb Policy

Read on some news sections

Lee Hardman, currency analyst at MUFG, expects Brexit risk premium will increase as we move toward a referendum to strengthen the pound weakness and increased volatility.

 

Excerpt important [/ B]

 

"Risk Brexit will increasingly dictate the performance of pounds while driving other underlying such expectations BoE policy will only be the event extra. Time referendum is right yet to be decided but it seems likely to be faster after the draft proposal released this week for" a new resolution for the United Kingdom in the European Union " . Draft and they will be discussed in more detail at a special meeting of the European Council on 18 and February 19.

 

Increased uncertainty regarding the upcoming referendum on the European Union and the downside risks to global growth prospects resulted in view of the more cautious BoE's monetary policy. "

 

 

 

From: FXstreet

Today, Because china celebrating Chineese new year ( happy Lunar new year anyway, i hope you are more prosperous in this fire monkey year)which caused market move in sideways

we need to pay attentionm there is some news that should be on the alert

Buy GU @ 1.44900,reasons, entered an order because long candle in M15 full with buyer

Sell Gold @ 1187.90 SL TP @ @ 1191.9 1177.9

Reason : Gold break EMA 12

I have trading for years and only with Tickmill i can have 10 pips spread for gold.usually another brokers charged 30-70 pips spreads for gold

http://www.myfxbook.com/portfolio/mission-1000/1513053

Update :

open 2 trades EURAUD

Open trade 1 : 0.02 lot @ 1.58761 SL @ 1.59161

Open trade 2 : 0.02 lot @ 1.58861 SL @ 1.59561

TP @ 1.57260

Got good spreads with this crosses , around 2.0 pips. its rare to have broker like tickmill with tight spreads on crosess

nice

Reason : Engulfing on EMA 12