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Misconceptions and Truths about Paper Trading Hello, traders. If you "Follow", you can always get new information quickly. Please click "Boost". Have a nice day today. ------------------------------------- TradingView also supports Paper Trading. For more information, please click the link below. www.tradingview.com More flexibility: change your Paper Trading account currency : www.tradingview.com Even more seamless order design — directly on chart : www.tradingview.com --------------------------------------- Paper Trading is thought to support trading practice for beginners. However, this is a wrong idea. If you lack prior knowledge about trading or have no concept of trading strategy, you should not do paper trading. The reason is that the psychological burden is different. The success or failure of a trade is thought to be the result of trading strategy or response ability, but in reality, it can be said that it is determined by the battle with oneself and psychological state. This means that psychological state has a significant impact on trading. Therefore, paper trading should be considered as a transaction that is conducted to confirm one's trading strategy and response strategy after completing chart analysis. If you have completed some verification of your trading strategy or response strategy, you should continue to conduct actual trading even if you suffer a loss. The reason is that you should not forget that you can only gain know-how in trading through actual trading. Therefore, paper trading should not be used to practice mid- to long-term trading, but should be used to verify trading strategies or response strategies for short-term trading or day trading. In order to do so, you must close the transaction by selling or cutting your loss. ------------------------------------------- For more information on trading orders in paper trading, please refer to the explanation through the link above. - You can proceed with Paper Trading by clicking the Trading Panel at the bottom menu of the TradingView chart. If you connect to a Paper Trading account, you can start with an initial fund of 100,000. If the Buy/Sell button is not activated, activate the chart settings to activate the Buy/Sell button before proceeding with the trade. Right-click on the space in the price candle area to activate the window, and then hover your mouse over the Trade section to check the trading order or trading settings (when you click the Trading menu in the Chart Settings window). - In addition, TradingView is linked to a real exchange and supports real trading. It supports various exchanges, so I recommend you to check if there is an exchange that you are trading on. - Have a good time. Thank you. --------------------------------------------------
Education
by readCrypto
LIVE ACCOUNT or PROP FIRM? A Comprehensive GuideIn this video I discuss the pros and cons of trading with a Live Account or with a Prop Firm Account. Hopefully, this will give you a better idea on what would be more ideal for your situation and style of trading. The FIVE factors I will talk about are: 1. Account Ownership 2. Regulations 3. Profit Potential 4. Financial Risk 5. Trading Rules At the end of the day, as a trader you should ALWAYS manage your money and your risk. Every choice you make is a trade. When you go to work, you trade your time for money. When you drink a bottle of coca cola you trade your health for quick gratification. Everything is a trade. If you go with a prop firm, treat it with the same respect as a live account. If you trade with a live account with a small balance, treat it like it is a large balance. Your wealth is a consequence of who you are as a person and how you live your life. Trade smart, trade safe! - R2F
Education
by Road_2_Funded
INFORMATIONAL : THE UPSURGE OF PROPRIETARY TRADING FIRMS There has been a recent upsurge of CFD prop firms appearing. These prop firms offer traders the opportunity to trade with their capital and earn a percentage of the profits. But are these prop firms better than trading with a broker? And what are the risks and benefits of joining them? In this publication, we will explore these questions and more. 🔹What are CFD Prop Firms? CFD prop firms are different from traditional prop firms in several ways. Traditional prop firms typically employ traders and give them access to proprietary trading tools and tactics as well as training and coaching. Contrarily, CFD prop businesses fund traders once they successfully complete a task or audition rather than hiring them. Typically, the audition entails paying a fee and achieving specific trading goals within a predetermined time span. A profit target, a maximum drawdown limit, a daily loss limit, and other risk management guidelines could be part of the trading objectives. If a trader passes the audition, they will receive a funded account with a certain amount of capital, ranging from $10,000 to $1 million or more depending on the prop firm. The trader can then trade with the prop firm's capital and keep a percentage of the profits, usually between 50% to 80%. The prop firm will also monitor the trader's performance and enforce the same trading objectives as in the audition. If the trader violates any of the rules or loses too much money, they may lose their funded account or have to start over. 🔹Benefits of Joining a CFD Prop Firm Joining a CFD prop firm gives traders access to more capital than they would otherwise not have, which is one of the key advantages. As a result, they may be able to trade more instruments, diversify their portfolio, and boost their earning potential. Another advantage is that the trader's downside risk is diminished because they are just putting their audition fee at danger and nothing more, not their own money. Additionally, certain prop companies provide extra advantages like coaching, education, community support, scaling plans, and bonuses. 🔹Drawbacks and Challenges of Joining a CFD Prop Firm However, joining a CFD prop firm also has some drawbacks and challenges. One of them is that it can be difficult to pass the audition and maintain the funded account, as some of the trading objectives can be very strict and unrealistic. For example, some prop firms require traders to make a 10% profit within 30 days while keeping their drawdown below 5%. This can put a lot of pressure on traders and force them to overtrade or take excessive risks. Some prop companies may not be transparent or reliable and may not actually supply real money to trade with, which is another disadvantage. Instead, they might run a Ponzi scheme or use the audition fees to distribute the earnings. Therefore, before joining any prop firm, traders should exercise due diligence and investigation. The repute of the prop firm, regulation, fees, profit splits, trading products, leverage, platform, customer support, and withdrawal procedures are a few of the variables to take into account. Finally, another challenge is that having more capital does not necessarily mean being a better trader. Trading with more money can also increase the psychological pressure and emotional stress that traders face. Therefore, traders need to have a solid trading plan, strategy, discipline, and risk management skills before joining a prop firm. They also need to be realistic about their expectations and goals, and not rely on prop firms as a shortcut to success. 🔹Conclusion In conclusion, CFD prop firms can be a viable option for traders who want to trade with more capital and earn more profits while limiting their downside risk. However, they also come with some challenges and risks that traders need to be aware of and overcome. Therefore, traders need to weigh the pros and cons of joining a prop firm versus trading with a broker based on their own circumstances and preferences. Trading with a CFD prop firm can be a great opportunity for traders who have a proven track record of profitability and want to leverage their skills to make more money. One of the main issues is that the CFD prop industry is heavily unregulated and lacks transparency and accountability. This means that traders may not have legal protection or recourse in case of disputes or frauds. Moreover, some prop firms may impose strict rules and conditions on their traders, such as high fees, unrealistic targets, or limited withdrawal options. Therefore, before signing up with a CFD prop firm, traders should always conduct their due diligence and research. They should search for reputable and reliable prop companies that have a good track record, transparent terms and conditions, and equitable profit-sharing plans. Additionally, they should contrast various prop businesses and pick the one that best matches their trading preferences, objectives, and style. Additionally, traders should keep in mind that the best option to guarantee complete control and security over their trading activity remains opening their own trading account with a reputable broker.
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PEPPERSTONE:BTCUSDEducation
by ChristopherDownie
15
How to choose a broker?Hello everyone! We discuss many different topics in our training articles and today we will touch on a very important topic that everyone avoids. Forex trading is becoming increasingly popular among individual traders due to its immense potential for generating profits. However, with hundreds of different brokers available in the market, it can be quite a daunting task for traders to choose the right one. Choosing the right forex broker can be a crucial factor in your success as a trader. Here are some tips on how to select a suitable forex broker: 1. Look for the Reputation : It is important to conduct thorough research into the different brokers before settling on one. The internet provides a wealth of information on a wide range of brokers. Do not just go for the first broker that you come across but read through customer reviews and opinions to get an understanding of their services. This can be invaluable in assessing their level of reliability and trustworthiness. 2. Analyse Regulatory Framework : Many brokers have obtained authorization from governing bodies in their countries. Before signing up with any broker, make sure to check out the broker’s regulations. In this way, you can rest assured that your money will be safe and secure. 3. Consider Trading Costs : It is essential to find out the fees and charges associated with a particular broker before selecting one. The cost of trading can differ from one broker to another, so make sure to compare the various services to determine which is most cost-effective for your needs. 4. Look for Trade Execution and Trading Platforms : The quality of the trading platform can be another critical factor in selecting a suitable broker. It is advisable to select one that offers an easy to use platform with fast trade execution speeds. Furthermore, check the availability of different trading tools such as charting and analysis options. 5. Check the Quality of Support : It is also necessary to determine the quality of the customer service provided by the broker. Contact the support team directly to assess how helpful and efficient they are in addressing your queries. By following the above tips, you can select the right forex broker and benefit from their services. Investing in forex requires thorough research, understanding, and due diligence in order to increase your chances of success. It is recommended to select a broker that offers competitive spreads and fees, a user-friendly platform, and reliable customer support. Doing so will go a long way towards helping you become a successful forex trader. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
OANDA:XAUUSDEducation
by Lingrid
9
Is YOUR Broker Regulated? Find out hereHere is a list of eight of the main financial regulatory agencies that are backed with strict regulatory enforcement in other countries… You’ll need to make sure the broker you choose is approved by one of the below. South Africa (FSCA) - The Financial Sector Conduct Authority USA (SEC) – Securities And Exchange Commission Eurozone (MiFID) – Markets In Financial Instruments Directive UK (FCA) – Financial Conduct Authority Australia (ASIC) – Australian Securities and Investments Commission India (SEBI) – Securities and Exchange Board of India Japan (JSDA) – Japan Securities Dealers Association Switzerland (FINMA) – Swiss Financial Market Supervisory Authority Am I missing any? Let me know in the comments :) Trade well, live free. Timon MATI Trader Financial trader since 2003
JSE:J200Education
by Timonrosso
How to Choose the Right Broker -10 pointsHere’s a list you may follow to help with your decision. My top 10 list to choose the best broker 1. Only choose reputable brokers that are regulated and recognised by the main financial regulatory bodies. (See answer to question two for the list of financial regulated authorities). 2. Find a broker who offer a list of trading instruments that you prefer i.e. shares, CFDs, Spread trading or futures. 3. Make sure their cost fees are low and their withdrawing and depositing structure takes place within three working days. 4. Make sure they are insured and deal with the top banks in the world and don’t run their own finance firm where they can take your money and run. 5. Go onto Google or ‘Hello Peter’ and read as many reviews from REAL people to see their experiences. 6. Browse through their website and read through everything before you decide whether they are for you or not. 7. Avoid any broker who promises any too-good-to-be true returns or are very marketing orientated – most times these are scams… 8. Analyse their portfolio growth they’ve achieved for their clients over the last five years. This will help you see their consistency or even the validity of what they have to offer. 9. Choose a broker who meets your trading needs i.e. trading platform, available markets, trading indicators, economic calendars and even copy-trading plug-ins. 10. Make sure the broker you choose is able to help in terms of customer service needs, trading education, live videos and even trading events for their clients. If you found this useful, let me know in the comments. Trade well, live free. Timon MATI Trader Financial Trader since 2003
JSE:J200Education
by Timonrosso
Choose your Ideal Broker with a 10 Step checklistAre you looking for the right broker in 2023 and beyond but unsure what to look for? With the high competition nowadays, each broker offers different features, instruments and advantages. That’s why choosing one not an easy task for a beginner or even an experienced trader. You’ll need to drill down exactly what suits your trading style, personality and risk profile. I say this because, in the last two decades, I’ve been through a fair share of brokers. So, I know how difficult this decision can be and how it can determine whether you make money or not as a trader. In this article, I’ll share with you an easy-to-follow checklist which you can use to help you choose the right online broker in 2020 and beyond. What is a broker or dealer? A broker is a company or institution that gives a trader access to a live trading account and trading platform which enables them to buy, sell and monitor different instruments and assets. Here’s my checklist to find your ideal broker… Checklist item #1: Make sure the broker or dealer is regulated! This is a must… Whenever you sign up with a broker, make sure they are authorised, regulated and recognised by leading regulation authorities. You will most likely find this stated on the company’s website, in the ‘About Us’ or in their ‘Disclaimer’, along with their license number they hold with that regulator. Countries with dedicated financial regulatory agencies include: South Africa (FSB) – Financial Services Board. USA (SEC) – Securities And Exchange Commission (FINRA) – Financial Industry Regulatory Authority Eurozone (MiFID) – Markets In Financial Instruments Directive UK (FCA) – Financial Conduct Authority Australia (ASIC) – Australian Securities and Investments Commission India (SEBI) – Securities and Exchange Board of India Japan (JSDA) – Japan Securities Dealers Association Switzerland (FINMA) – Swiss Financial Market Supervisory Authority When you sign up with a regulated broker, you’ll at least have the security and assurance that they have met certain standards approved by the regulatory body, such as: Having the right capital to protect the clients’ funds Ensure the firm won’t go bust Confirm they have met certain requirements from the financial service provider Checklist item #2: Check their reviews and testimonials Before you make any decisions, you’ll need to see what others have said and are saying about the broker or the dealer company. You can do this by searching on Google, ‘Hello Peter’, trading forums or go onto their social media pages to read what other unbiased REAL clients have written about them when it comes to reviews, testimonials and ratings. Checklist item #3: Broker minimum requirements There are two minimums to take into account: Minimum balance and minimum deposit per trade. Most brokers require you to start with a certain minimum balance to set up your trading account. Nowadays, with the high competition, you should easily be able to find brokers or dealers who require no more than R1,000 up to R5,000 to open a trading account. If they require any more to open your trading account, just know that there are other brokers out their where you can start with less. As with the minimum deposit to take a trade, you can easily find reputable brokers where the minimum is under R200 per trade. Checklist item #4: Availability: What they can offer you You should have a good idea on what you’d like to trade. This is why before you sign up with the broker, you’ll need to see the availability and range of trading instruments the company has to offer. What assets do you want to trade? Shares, CFDs, Options, Futures, Spread Betting etc… What markets do you want to trade? Stocks, currencies, commodities, indices, bonds, ETFs or crypto-currencies… Where do you want to trade? Via phone, mobile or computer. What times would you like to trade? Morning, noon or night? What gearing and leverage would you like to trade? Whether you’re a Forex trader or a stock trader you’ll need to find out what gearing the broker has to offer. Such as 5:1 – 20:1 (for stocks) and 50:1 up to 200:1 (for Forex). E.g. With gearing (or leverage) of 50:1 this means if you deposit R1,000 into a trade you can hold a position exposed and valued up to R50,000. REMEMBER: the higher the leverage offered, the higher the reward but also the potential risk. Do they offer a demo account or a trial period? You should never rush into trading with real money, before getting to know your broker and your trading platform. That’s why you should ask your broker if they have a demo trading platform or account that you can use to test out what they have to offer with your strategies Checklist item #5: Do they offer trading education and training? A good and genuine broker should want you to be successful as a trader. And to do this, they should offer you a whole range of free education, training sources and tools such as: Training guides Glossary Trading videos, podcasts, forums Written articles Step-by-step trading tutorials Support staff Opinion-based resources Live trading events and webinars Trading calculators, tools and calendars Checklist item #6: The trading platform itself Majority of your analyses, preparation and the execution of trades are going to take place on the trading platform itself. This is why you’ll need to try it out, test it and learn how to use it, to see if it will suit your trading. Here is a list of items to watch out for with your trading platform: Item #1: Chart types: E.g. Line chart and candle sticks Item #2: Time frame options of: E.g. 1 hour, 4 hour, daily, weekly & monthly Item #3: Trading indicators and oscillators: E.g. RSI, Stochastics, MACD, OBV, ADX, Bollinger Bands etc… Item #4: Real time charts: E.g. Not having to refresh your screen every 15 minutes or download anything unnecessarily. Item #5: Live streaming data: E.g. News feed, live speeches & announcements, and SENS (Stock Exchange News Service). Item #6: Customized watch lists: Make sure there is a functionality to create, modify and monitor a watchlist with the markets you’ll be trading. Item #7: Trading order variety: E.g. Market, buy, sell, limit, stops, trailing stop loss and guaranteed stop losses Item #8: Trading journal: E.g. Portfolio profit & loss summary of open, closed and historical trades. Item #9: Trading order box: Where you’ll place your entry, stop loss, take profit, margin requirements, order quantity, gain potential, risk potential and risk to reward. Item #10: Reliability: When you’re testing the trading platform, this is where you can ensure it’s reliable in a way that: It runs smoothly It saves your layout, charts and profile It doesn’t crash The speed is good The features all work as they should The web-based (java) or desktop application works great The mobile app is easy-to-use and handle NOTE: TradingView connects a amazing and reliable brokers. Checklist item #7: Customer support It’s important to find out where you can contact your broker, in case you need help due to some technical or trading reason. Which mediums can you contact them through? • Phone • Email • Online live chat • WhatsApp • Skype • Forums Also when you give the representative a call, make sure they sound knowledgeable and confident in what they tell you. Think about how they respond to your questions, how quickly do they solve your queries, are they friendly and approachable? The contact support will also confirm their quality, efficiency, reliability and credibility for what the company already portrays and offers. Checklist item #8: Costs and fees You will never be able to avoid costs and fees completely, but you can minimize them by choosing the right broker. You’ll need to do a bit of research to compare the costs of buying, selling and holding trades. Make sure you look at the following: Spreads (Fixed or variable) Note: The spreads should be low for high volume traded markets Commissions (When you enter and when you exit) Margin interest Service charges Minimum charge per trade e.g. R100 Checklist item #9: Ease of deposits and withdrawals This is an important one… Each broker or dealer has their own measures and policies when it comes to their clients depositing into their trading accounts or withdrawing back into their bank accounts. Ask your broker how you can make a deposit whether it be via: EFT Credit Card PayPal Wire transfer Then confirm with your broker to send you their policies and costs on how you can withdraw your money and how long it will take whether it be: Via email to ask for a withdraw which will take under 3 trading days. Via the trading platform where you can withdraw through an authentication process. Via the broker who can only proceed with a withdrawal on the phone which will take three working days. Note: A withdrawal and deposit with a reputable and regulated broker should NEVER take more than three working days or warning bells should ring. Checklist item #10: Safety, security and legitimacy There are a few ways to check if the broker is safe and secure including: Their website starts with HTTPS: and not HTTP: They are insured and deal with top banks around the world. They have secured encryption processes. They have proven to show growth for their clients over the last five years. They have won broker awards or are listed in the top brokers in the country you’re looking at. Final Words You now have an idea on how to find the most ideal broker for you. Take your time to do the research and go through each line item one by one. Never rush into choosing a broker as this can be a significant decision for your financial future. If you enjoyed this piece then follow more daily tips and lessons on TradingView. I've been in the markets since 2003 and happy to share what I've learnt along the way. Trade well, live free. Timon MATI Trader PS: Connect with my few socials below.
JSE:J200Education
by Timonrosso
Best Brokerage Account 2021Let’s talk about the best brokerage account, and in order to do this, I want to compare five different brokers for you. I’ll be comparing tastyworks, the current broker that I’m currently trading with, Robinhood because many traders are using it, TD Ameritrade because it’s wildly popular, Interactive Brokers because it’s great for international traders, and we will talk about a new broker that I’ve been using for the past couple of months, so I have an account with them. I want to talk about this and compare them to the others and tell you why I really like this new broker and why I’m in the process of switching over all my accounts. The first thing to keep in mind when you’re comparing different brokers, you have to pick criteria that fit your needs. These are my criteria and they might be great for you, or your criteria may be different. So what I’m looking for when finding the best broker. My Criteria For Selecting A Broker So the first thing that I would like to know is how much do I have to pay in commissions per month? I use a certain baseline for this. With my current broker, tastyworks, I looked back over the past three months and I wanted to see how much I spent. From 1/1 through 3/31 I made 150 trades and traded 1,665 contracts. So I use this as my baseline in order to compare these different brokers. I took to see what if I make 150 trades, or 50 trades per month and 500 contracts that I’m trading per month. Again, for you, it might be different, but we need to have somehow a baseline, especially when we are comparing the commissions per month that I’m spending right now, that I would be spending on Robinhood, TD Ameritrade, interactive brokers, and this new broker that I’m trading with. Now, every single broker has some other fees, and you need to see which of these fees are important to you. Here are the ones that are important to me. I want to know if there any wire fees and if so, how much are they? Also, are there any assignment fees? Assignment fees are important to me because I’m trading The Wheel Strategy, and part of this strategy is getting assigned shares, so I want to know how much this will be. Information about their customer support is also important to me. What happens if I need help and I need to call or e-mail them? Do they have an online chat feature? So this is important for me. What about the platform? Every single broker offers a platform for you, so which one best fits your needs? This is where we get a little bit more technical because I want to talk about levels three and four. What does this mean? Well, it means that, especially when you are selling options which you do with The Wheel Strategy, you need certain option trading permissions, so you want to know how easily can you get level three and four if this is important to you. Now, last but not least, I love having live data. I don’t know about you, but I want to make sure that live data available with these brokerages. I also want to know how much it costs if anything. So let’s get started and let’s talk about the first broker here, tastyworks. tastyworks I am currently using tastyworks, and I know exactly how much money I spent on tastyworks. On this particular account, I spent $550 dollars in commissions. For the baseline of 50 trades and 500 contracts per month, I spent around $180 in commissions. Now for tastyworks, how much are wire fees? When I wire money out, which is once a month, it costs me $25. What about the assignment fees? The assignment fees for tastyworks are $5. I want to explain to you exactly how they are charging. So with tastyworks, they charge $1 per contract and they do have a $10 maximum. So you’re never paying more than $10. Even if you’re trading 50 contracts, you will only pay $10. They also have no closing fees and this applies to options trading. For stock trading, these days, trading stocks is free pretty much everywhere. So we want to worry about options here because that’s what I’m mainly trading. What about customer support? I must say their support is good. The experiences that I have had thus far when I contact them by chat are very quick. When contacting them through chat, they usually only have me on hold for three to ten minutes. Now, what I do not like about tastyworks? You cannot call them, and sometimes I would rather speak with someone on the phone, so this is why I’m not labeling it “very good,” I’m just labeling it as “good” because you can’t call them. As for their platform, I think it is pretty good. However, I’m just using a fraction of the platform, so for me, the most important function is actually placing trades. I’m not using any of the complicated curves that you can have and all of the analysis tools, but again, if this is important to you, then you need to make sure that this platform meets all of your needs. For me, it does what I need it to do, which is entering trades. Now level three and four is actually something that is quite easy to obtain with tastyworks. So no problems there, and live data is actually free. Robinhood As for Robinhood, how much would you pay in commissions per month? Well, Robinhood has always advertised you pay zero commissions, and that is true. For options trading, you also pay zero dollars, which is actually pretty cool. Wire fees are a whopping zero dollars with assignment fees being zero dollars. So thus far Robinhood is really good in terms of commissions, right? Well, what about customer support? Now, full disclosure, I do not have an account with Robinhood, so I’ve never contacted them, but based on what I have heard, it is pretty bad. What about based on what I’ve seen? I don’t know if you’ve been following the news, but back when we had the GME craziness, Robinhood restricted trading for several days. I don’t think that was fair. I don’t think that they should have done that, but they did. This makes it seem to me they don’t have their customers in mind. Now, again, full disclosure, I don’t have an account with them and never contacted them. I’ve just heard that customer support is pretty bad. What about the platform? I don’t know first hand, but I’ve heard it’s good. Again, this is where I go from hearsay because I don’t have an account with Robinhood, never had one, & don’t want one. In terms of levels three and four, I heard from traders who have an account with them say it is fairly difficult to obtain levels three and four. If you’re trading The Wheel Strategy, this is super important. As for their live data, it’s free. TD Ameritrade Now on to TD Ameritrade. How much would you spend with TD Ameritrade based on my baseline? You would pay 65 cents per the contract that you trade. So if you’re trading like me, 500 contracts per month, times 65 cents, that comes to $325. What about the wire fee? The wire fees here are also $25, the same as with tastyworks, but assignment fees are zero. Now, what about customer support? Customer support used to be good. Right now I would say it is decent. There was a time when you could call them they would pick right up. These days you are probably on hold for anywhere between 15 minutes and 2 hours because they got bought by Charles Schwab. There seems to be a lot of consolidation going on and because of this, and because of this, it seems that customer support is suffering. What about the platform? ThinkOrSwim is probably one of the most powerful trading platforms out there, and it is fairly complex. For me, I just need to enter simple orders such as buy and sell orders. So for me personally, it is too complex. It took me a long time to learn it. For those of you who have ThinkOrSwim, you either love it or you hate it. Either way, it is so complex, so you probably had to spend hours and hours learning it. Levels three and four are fairly simple to acquire, and also live data here is free. Interactive Brokers Now with Interactive Brokers, I personally do have three accounts. I’ve been using them since 1999. They’re a great choice for international traders. However, Interactive Brokers charges 65 cents per contract. So very similar here to TD Ameritrade. If I would trade on Interactive Brokers I would actually spend $325. The wire fee here is a little bit cheaper, $10. The assignment fees, if you get assigned, are zero. Now their customer support, based on my experience is pretty bad. I’ve tried contacting them by chat, by phone, by email, and if you’re trying to contact them by chat, you will most likely be on hold for at least 20 minutes. If you try to contact them by phone it is not unusual to wait 30 to 60 minutes until you get connected. Their platform here is actually simple to use, but I find it’s pretty clunky. So just if you want my opinion and again, this is just my opinion. You on the other hand might find this platform blazing fast and think it’s the best trading platform there is. Now, in terms of levels three and four, yes, it is fairly easy to obtain, but they charge you $14.50 for live data, so just keep this in mind. This is a monthly fee so you just need to know what you need. So with the new broker, and I’ll tell you in a moment who that is, but when I saw all this mess going on in February where several brokers restricted trading, I said, “you know what, this is not fair.” When I heard from some of you say, “My broker suddenly raised the margin requirements and I didn’t have a margin problem before and now I have a margin call,” or that you’re on hold forever before you get any customer support, I set out to find a great broker, and here is the new broker that I’m currently using. Tradier The new broker that I’m using is Tradier. I will move all of my accounts over to them because of what they’re offering. The commission per month, it’s a $10 flat fee. $10 no matter how many options you trade. This is a special rate for those of you reading these articles, and following me on YouTube. So I think it is an absolutely cool model because it is a flat fee no matter how many contracts you trade. Now, this, of course, is great if you are trading a lot of contracts like me. You have seen it, 500 contracts per month, with 150 trades, so I’m a very, very active trader. I think it is absolutely cool that instead of paying $180 per month, all I’m paying right now is a $10 flat fee. That is pretty cool. Now the wire fees are a little bit more expensive. The wire fees are $35, but again, I’m using it once a month. So, therefore, if I’m adding this up, all right, and I say, well, that is $205 per month versus $45 a month, and for me, that adds up. Right. It’s only a $10 difference from tastyworks, and I’m not wiring money in and out like crazy. I’m just wiring it out once a month and that is okay. So the assignment fee here is a little bit higher, at $9 as of right now. So over the past three months, I had 3 wires and I had 8 assignments. This is for the year. This means that per month I have 1 wire and approximately 3 assignments. So as you can see, this is why the assignment costs here for me are not that important. Again, these are my numbers, your numbers might be completely different, and that is fine. This is where the cool thing is you have probably your brokerage account statement, so you can take a look at that, and then you know exactly how much you’re paying right now. So the customer support, I must say based on my experience, over the past two months that I’ve been using them, is awesome. What do I mean by awesome? By awesome I mean that I can pick up the phone right now. I can call them, and within two to three rings, somebody picks up. The customer support team is in North Carolina, so I’m not going overseas, they are here in the United States. They have been super responsive by email and by phone. I don’t even know if they offer a chat on the website because I was just so happy that I can finally talk to somebody. Again, I’m coming from tastyworks, and on tastyworks, I’ve never, ever been able to talk to somebody because their business model is that they’re all doing it by chat, so I love this. What about their platform? Their platform is simple, and in my opinion, it is super easy to learn. So you can learn this platform in literally 10 minutes because that’s what they do. They just say, hey, if you want to enter trades, which I want to do, it’s fine. They don’t have all of the bells and whistles that the other platforms have. So I would say it’s more comparable to Robinhood instead of a platform like TD Ameritrade because with Robinhood you just enter the trade and it is good. So it’s simple and easy, does the trick for me. Levels three and four are super easy to get. And live data is free. So this is what this new broker is all about. For our members, we have created in our private community a special discussion group, and in this discussion group, we are here to help you, support you, with this particular brokerage. Which again is called Tradier. So, for example, people have been asking if they open an account for business, an LLC for example? And the answer is yes. So you can ask us if you want to, of course, you can contact them. So this is what we have here. We have a Tradier discussion group. We do have tutorials for you such as videos on how to open an account, how to set up a paper trading account, and that reminds me, they offer paper trading. As you know, I highly recommend that you trade on a paper trading account first. There are also videos on how to fund your Tradier account, how to place a stock entry order for the PowerX Strategy, how to place options order for the PowerX Strategy, entering orders for The Wheel Strategy, how to check your positions. Summary OK. So, again, my promise is to show you the best broker and this is the best broker for my needs. Now, for your needs, it might be different, but I thought that I compare here that the top five brokers that most traders are using right now.
TVC:NDQEducation
by rockwelltrading
How brokers provide zero commission trading? You've probably heard of many zero commission trading platforms being established. Robinhood is probably the most well known one, actually. Historically, brokers have made their money by facilitating trades in the market between buyers and sellers and collected a fee for their extremely hard work... Since markets have become larger, with greater trading volume and more participants, commissions per trade have fallen drastically, and the industry has had to change for your poor broker to earn a living. With the rise of the smartphone, this has led to brokers being able to target a new type of trader... This trader tends to be less informed than a professional... Trading off a phone... A lack of experience... And more of a gambling mentality rather than understanding what is truly driving markets. Firms have realised that. 'Commission free' is a marketing tool, and a very good one. See, what is happening now is that market makers and dealers - and by extension, exchanges - are willing to pay brokers for their uninformed clients' order flow. High frequency trading firms, such as Citadel, Apex, Renaissance, Virtu and DRW conduct market making on extremely low timeframes, providing liquidity to exchanges - that's their primary goal - and exchanges pay them rebates based on volume for doing so - note the chart of the CME Group above. Their share price has increased massively since high frequency trading (market making) has driven 'liquidity' to the exchange. Since their business is focused around volume, they welcome HFTs providing liquidity and therefore do not mind paying them volume based rebates - HFTs are kind of like introducing brokers. But what's a market maker? Market makers are delta neutral. They do not necessarily care about the direction of a market, they simply want to sell higher at the bid and buy at a lower offer, thus capturing the 'spread' (the difference between the bid and the offer). By paying brokers for the uninformed flow, this means that they believe they can capture asset misvaluations, and therefore turn a profit. And it's very lucrative business. Robinhood recently got fined for not routing orders adequately to allow for best execution for clients. The adverse selection that they committed is an example of how a client can be at detriment. However, it isn't necessarily bad to trade with a zero commission broker, since your explicit costs can be low (although implicit - the costs you don't see - could be higher and likely are). What matters massively is their execution policy and whether you are being filled at the bid or offer that the market will allow you, or if you're receiving the price that the broker wishes you to get as part of their routing relationships with market makers. The former is good, the latter is bad! I hope that's cleared up a bit for you...
NASDAQ:CMEEducation
by FinkPro
3
Improved Version : How Do "Whales" Trade ? CAUTION : EXPERIMENTAL Hello friends. Whale trading system has been developed and placed on a more reasonable ground. So this publication is an improved version of the educational idea : How do "Whales" Trade? Before Starting In related ideas, you can see the first version and the script I used to create this idea. And there is an intermediate version that shows the logic after separating the bull - bear zones. RULES First of all, there is absolutely no short position to reduce the risk of this system. Negative regions are sales regions. (Not short position) Position sizes are shown in the presentation.We split our capital 100 . (Or you can accept your entire position size 100.) We certainly don't try with all our capital. It can be tested with reasonable capital allocated for instruments. At each change of region, we dispose or purchase all of our position size. And the values in the presentation are our graded position amounts . Now that we've benefited from regional changes, I found 10 levels reasonable. Let's write our position sizes here too : STAKES Pos Size 1 : % 0.4329 Pos Size 2 : % 0.8658 Pos Size 3 : % 1.2987 Pos Size 4 : % 2.1645 Pos Size 5 : % 3.4632 Pos Size 6 : % 5.6277 Pos Size 7 : % 9.1 Pos Size 8 : % 14.719 Pos Size 9 : % 23.81 Pos Size 10 :% 38.52 Note : Position size ratios are formed by coefficients based on gold ratio to provide a logical example. Let us now examine the region from January 22, 2018 to August 26, 2019. I'm doing trade and distributional trades for 1 bar after eye decision and signals to be fair. TRADES AND TRICKS After the sell order arrives on January 22, we wait until distributional buying points arrive. First distributional Buy Signal was on 7 May 2018 (close ) , so it means : Our first Distributional Buy was between 7 - 14 May 2018. Let's start : Distributional Buys : 1.Buy : 8572.5 Position Size : %0.4329 2.Buy : 7847 Position Size : %0.8658 3.Buy : 7456.5 Position Size : %1.2987 4.Buy : 6563.5 Position Size : %2.1645 5.Buy : 6786.5 ==> Rejected , because price is higher than last Buy. 5.Buy : 6507.5 Position Size : % 3.4632 6.Buy : 6396 Position Size : % 5.6277 7.Buy : 5837.5 Position Size : %9.1 8.Buy : 3940 Position Size : %14.719 9.Buy : NET Long Signal : 3493.5 Position Size : The Rest ==> (100 - All) = %62.328 Distributional Sells 1.Sell : 10919 Position Size : %0.4329 (May be higher than the amount of earnings. For example : % 25 Here we are improvising according to obligatory market conditions. I wrote the first rate in order to follow the example rule, but I would sell between 25% and 40% in live trade. Because the profit is too high.) 2.Sell : 10146 Position Size : %0.8658 ( Normally I shouldn't have sold it because it was lower than the first sale. But the profit is still very high, but it is decreasing, so I sell. A much higher quantity can be sold here, as is the same on the top. I'm writing the next rate to keep the rule.) 3. Sell : 11376 Position Size : % 60 ( Now profitability is at its peak , I ignore the stake rules and going to improvise. Instead, the first 3 - distributional sales: 10% - 20% - 40% with values such as making it much more reasonable.) 4.Sell : NET Sell Signal : 9970.5 Position Size : The Rest ==> (100 - All) = %38.8 Note : I could have gone a lot more profitable than my earnings, but to avoid stretching the template, I applied the first 2 ratios. A professional could have been more profitable here: Example: 40 - 60 and close. So I'm going to calculate these rates. CALCULATIONS ( For 100 unit = Full Position Size ) Average Cost : (8572.5 * 0.4329 + 7847 * 0.8658 + 7456.5 * 1.2987 + 6563.5 * 2.1645 + 6507.5 * 3.4632 + 6396 * 5.6277 + 5837.5 * 9.1 + 3940 * 14.719 + 3493.5 * 62.238) / 100 = (3711.04 + 6793.93 + 9683.76 + 14206.7 + 22536.8 + 35994.77 + 53121.25 + 57992.9 + 217428.5 ) / 100 Average Cost = 4215 Average Sell : (10919 * 0.4329 + 10146 * 0.8658 + 11376 * 60 + 9970.5 * 38.8 ) / 100 = (4726.84 + 8784.41 + 682560 + 386855.4) / 100 Average Sell Price = 10829.27 SUMMARY Percentage of net earnings per unit (Full Position Size): ((10829.27 - 4215 ) / 4215) * 100 = %156.92 In doing so, commercials provided liquidity to the markets and did not have the problem of not finding buyers. Stoploss here means emptying the whole position, for me 4 bars means stoploss in all directions. More importantly, increasing rates will not harm us in non-trend areas. Because we start with low rates. Although comments and improvisation are very important, I tried to explain the system outlines by linking them to certain rules. Now we have gone more systematically than the first version !
BITMEX:BTCUSD.PEducation
by Noldo
4
How Do 'Whales' Trade ? Hey! Now calm down and erase all of your coffee fortune-telling stories, throw the pump and dump signals you've been waiting for! You can only draw trend lines and long-term channels. If you're still not mad at me, we're starting now ! Trade is a relative concept and the buyer meets the seller relatively. Therefore, trendlines and channels can provide little information about trendlines in relatively time-dependent breaks. I am not a licensed broker at first, but I spent a lot of time in the CFTC and COT section, especially in interpreting Commercial positions with all other relative indicators and volume. The so-called concept of the whales in recent times is actually producers and owners of large official capital. They have to divide the amount of sales they find in their sales because the positions they carry are huge. While the price is falling while buying, they have to make gradually while the price is rising. Or they will not find buyers for their goods. Now we will consider a trade cycle with reasonable figures in the figures you see in the picture. We are doing it first bar after signal with average price as real trade : Example Rule : Our position size : Last block * 1.5 Distributional Buy Blocks : 1.Buy point = 1298.3 ( Position size = %1 ) 2.Buy point = 1214.1 (Position size = %1.5 ) 3.Buy point = 1194.5 (Position size = %2.25 ) 4.Buy point = 1193.1 (Position size = %3.375 ) Cost = (1298.3 * 1 + 1214.1 * 1.5 + 1194.5 * 2.25 + 1193.1 * 3.375) / 8.125 = 1210.4 Distributional Sell Blocks : Example Rule : Let's divide our sales into same levels according to our expectations. But in risky places that we think to be a definite negative trend, let's definitely empty our position and not carry a position. If the negative trend came after the first sale, then let's clear it all. All experts draw channels and trends for this. (I started using my high-end system, but channels and trend lines are still important, because I think everything that shows relativity in trade is very important! ) Our buy levels was 4 and sum of ratios = 8.125 1. Sell block = 1 / 8.125 = %12.3 2. Sell block = 1.5/ 8.125 = %18.46 3. Sell block = 2.25 / 8.125 = %27.69 4. Sell block = 100 - (1.sell block + 2.sell block + 3. sell block ) = 41.55 Finally : Sell Points 1. Sell point = 1223.923 (3 consecutive purchases were shortened in one buy , If I had sold 3 times in a row, my wife would have been much higher because the rate would have increased in the hills, but the sample would have been too long.Although I use a very successful system, I divide it into 10 and I empty all of them in the definite negative trend.You may divide by 15 or 20 with distributional buy too or decrease dist ratio.Here you can not sell anywhere in the whole position can be seen when you see the negative signs, I do not prefer only as a stoploss I use this last safety.) 2. Sell point = 1243.57 3. Sell point = 1285.67 4. Sell point = 1310.93 Average sell point : (1223.923 * 12.3 + 1243.57 * 18.46 + 1285.67 * 27.69 + 1310.93 * 41.55 ) / 100 = 1280.798 RESULTS : Net profit = ((1280.798 - 1210.4) / 1210.4) * 100 = 5.816 As a result, our senior investor has already increased per unit 5.8 percent in a short time. In doing so, commercials provided liquidity to the markets and did not have the problem of not finding buyers. Stoploss here means emptying the whole position, for me 4 bars means stoploss in all directions. I will adjust the rates and use it in real ideas and real trade. Stay tuned! Noldo.
OANDA:XAUUSDEducation
by Noldo
7
Financial Market Introduction 101SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Financial Market Introduction 101 a) Market participants Market Participants include those parties that are involved in the operations of investment companies. Their control in the market is necessary and they should be well aware of the changes in the market. 1. Brokers and dealers handle trade activities between the buyers and sellers of currencies by charging a fee. They are the crucial part of the FOREX market, which acts as a medium between buyers and sellers. 2. Investment advisers are individuals who provide investment advice to investors by issuing reports regarding the analysis of investment securities. 3. The investor is one of the main participants of the financial market as funds are allocated to them as a capital to gain financial returns in future. 4. A central bank is one of the monetary authority and it regulates the state's currency, interest rates and money supply. Performance of the commercial banking system is also overviewed by the Central bank of respective countries. b) The Trading Market Trading market is a place where trading of currency and securities are done. The market includes brokers and investment experts who provide active services as traders on the basis of their education and knowledge regarding the market. They take investment decisions on the basis of different trading methodologies and data from past years to determine the most profitable investment. c) The Best Time to Trade Best time during the year Previous yearly records show that October and September are considered as the best months to invest in the FOREX. The main reason is due to the price bumps, which usually arises during the month of November and December, due to the seasonal changes. Best time during the Month The best time of the month to invest in the FOREX is during the first five and last five days of the month. The fact was illustrated in research conducted by Professor Ogden’s, which determines different types of investment return that are paid in the last first few days of the month. This "regularity of payments" can enable the investors to generate profit on their investments. 1. Municipal bonds interest payments are made up to 90% 2. 70% of corporate bonds principal payments 3. Preferred stock dividends are paid up to 65% 4. 45% of all common stock dividends. d) Market Cycles Market cycles are considered as the key to determining the maximum returns. The market cycle can be divided into 4 phases: Accumulation Phase • The accumulation phase arises after the market decline and experienced traders start to buy after figuring that the worst position of the market is ended. • At this time period, currency price valuations are pretty enough that they can play an essential role in profit generation. However, in this stage, prices are flattered and every seller in the market knows that the buyer will get a healthy discount. Mark-up Phase • A Mark-up stage the market stability moves forward towards the higher market moves. During this time media stories usually determine that the worst period of trading is over, however, increase in unemployment can arise during this period. • At the maturity of this phase, investors use bandwagon because of their fear regarding the decrease in market prices. A bandwagon is a group including technicians who analyses the market prices to recognise the changes in market direction and sentiment. The Distribution Phase • Within this time period, sellers dominate the market. The bullish market sentiments can turn the market cycle towards the mixed sentiment. Prices in this phase stay locked, which can last for some weeks and months. • Even the timing models do not flash any signals to buy the currency. This phase can be affected due to the bad economic news or adverse geopolitical event. Mark-Down Phase • This stage can be most painful for the investors, those who still hold their previous FOREX reserve can get huge losses, as they would have to sell them even at the lower prices at which they have bought the currency. • However, this phase determines the buying signals to the early innovators, which can enable them to generate returns in future once the prices got higher. This stage also demonstrates that it is not the good period to sell the FOREX. e) Days of the Week 1. Throughout the whole week, Monday is considered as most the best day to buy FOREX, as the prices usually show a decline. A study conducted on "A Survey of the Monday Effect Literature" reveals that decline in the prices can be the reason of bad news that was released during the weekend. 2. Conversely, if Monday is considered as the best day to buy FOREX, Friday is determined as the most feasible day to sell it. As it is better to sell the reserve before the weekend due to changes of price decreases which can affect the profitability of investment, in case of selling it at lower prices on Monday. 3. Heading towards Tuesday trading can flourish a little. The reason behind this fact is that opinions are formed by the traders and they have started taking their positions in the market. Therefore, this can make a good day for trading in the market. 4. Wednesday shows the same kind of trend in trading followed by Tuesday or usually depicts bigger price moves and is considered as the second-best day of the week for trading. 5. Thursday, it quickens. Thursday is considered as the days when huge profits can be made by the investors. Investing in the right currency can enable the investor to generate huge profits. f) Hours of the Day Trading in the morning time is not a good idea as market prices and volumes can change roughly. It is assumed by experts that these are considered as volatile hours and several new releases can affect the investment outcomes adversely. However, trading in the middle of the day can be favourable for the investor, as prices mainly remain stable during this time period. Several time frame analysis is utilised by the investor to select the most appropriate time for trading. g) Swing Approach Swing-Traders analyses the swing chart within the day so that they can take advantage of favourable price changes in the marketplace, and this affords them the benefit of not having to watch markets continuously while they are trading. Once they find an opportunity in terms of increase in FOREX prices, they place the currency on sale and then constantly keep a check on the progress of the pricing. The approach has different optimal time frames, which include: • Daily, and Weekly Charts • 4 Hour, and 1 Hour charts...... Please let me know if you would like to know more Happy trading :) "In investing, what is comfortable is rarely profitable" Robert Arnott
FX_IDC:USDWTIEducation
by SMPTrader
Selecting the Right Broker for You Pt. IIPOTENTIAL SCR*W FACTOR 1. Must have a centralised price feed to insure reliability of quote. 1a. There should be no delays, re-quotes, rejections or manipulations of price. 2. Check fine print of contract for any unfair rules they may impose upon you as a trader. 3. Are there conditions in the broker agreement under which profits can be made void and if yes, what are they? 3a. Price latency arbitrage. 3b. Minimum holding time for trades. 3c. Other? 4. Is there an obvious stop loss hunting practise? 5. Must have a clear policy on margin calls. 5a. How much time is there to deposit extra capital in case of a margin call? 5b. Will they close all open positions when the equity in your margin account falls below the required maintenance level? 5c. Or will they close only enough positions to increase the equity, but not all open positions? EXECUTION ENVIRONMENT 1. Must have a mobile app with a user-friendly interface, compatible with your mobile device. 2. Must have a pc app with a user-friendly interface, compatible with your pc. 3. Must have a stable and secure execution environment. 3a. Privacy protection policy. 3b. Data encryption. 3c. Secure authentication protocols. 3d. Backup systems and contingency plans. 4. Does it have a link into a charting platform to facilitate chart trading? CUSTOMER SERVICE 1. Must have a “trade services team” to respond to inquiries / complaints / appeals regarding trades you make. 2. Must have the possibility for immediate access by phone to flatten all of your positions and cancel all orders resting in the market, in case of an emergency. 3. Questions must be handled timely and correctly by customer service. 3a. Is there an immediate channel of communication? 3b. Can you contact them by phone, email and chat? 3c. What hours are they open? Finally, a list of items I personally find irrelevant and do not include in my decision, but I put them here for completeness, as other traders may find them relevant. Does the broker offer: -A newsfeed? -A managed account? -A charting package? -A forum to facilitate a trading community? -Proprietary indicators / analytical tools? -Market analysis? -Education in the form of tutorials, guides, webinars, ebooks or trading courses? -Trade ideas, Signals, EA´s, bots? -A specific language other than English you are looking for? -Start bonuses and promotions? See also "Selecting the Right Broker for You Pt. I". See the link under Related Ideas.
Education
by JazzForex
4
Selecting the Right Broker for You Pt. IBROKER RISK PROFILE 1. Must be regulated by a regulatory authority. 2. Must have a (relatively) clean regulatory record. 3. Must have they been in business for several years. 4. Must have a segregated bank account for holding retail client funds. 5. Must be a member of a compensation fund, which compensates losses (up to a certain amount) in case of insolvency. 6. Must have a negative balance protection policy. 7. Must fulfil capitalization requirements set by the government. 8. Must be a publically traded company. 9. Must have a solid security check in case of withdrawal of capital by customers. SERVICE PROFILE 1. Must provide an account in the base currency of your choosing. 2. Must be a Non Dealing Desk (NDD) broker. 3. Which currency pairs do they offer? 4. What other instruments do they offer for trading (metals, oil, gold, indices, etc)? 5. Do they allow hedging? 6. Do they allow scalping? 7. Do they offer a mini or micro account? 8. Must offer a free demo account to get familiar with their execution environment. 9. Do they have price alerts (by email, SMS or push notification)? 10. What leverage do they provide? 10a. Can I select the leverage I want per trade? 10b. Or is the leverage automatically set based on equity? QUALITY OF SERVICE 1. Speed and ease of deposit and withdrawal of capital. 1a. Do any broker fees apply? 2. Speed and ease to open a live account. 3. What is the policy and track record on fills? 4. Does the broker offer guaranteed stops? 4a. Do they guarantee an absolute limit on the potential loss (read: the full risk of slippage is for the broker)? 4b. Is there an extra cost involved (like an additional spread)? 4c. What conditions hold for these guaranteed stops (can I change them or delete them for open trades)? COSTS OF SERVICE 1. Are the service costs competitive? 1a. Fixed or variable spreads? 1b. How much do spreads widen during news events? 1c. Commissions? 2. What is the roll over during the week and during the weekend? 2a. Are these rates applied to the account weekly or daily? 3. Are there inactivity fees? 4. Do they offer interest on the entire account? To be continued in "Selecting the Right Broker for You Pt. II". See the link under Related Ideas.
Education
by JazzForex
6